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All Journal Media Riset Akuntansi Jurnal Keuangan dan Perbankan JAM : Jurnal Aplikasi Manajemen Jurnal Akuntansi Multiparadigma JURNAL NUSANTARA APLIKASI MANAJEMEN BISNIS Jurnal Bisnis dan Akuntansi Jurnal Ilmiah Akuntansi dan Finansial Indonesia Sawala : Jurnal pengabdian Masyarakat Pembangunan Sosial, Desa dan Masyarakat Sainsbertek Jurnal Ilmiah Sains & Teknologi Jurnal Pemberdayaan: Publikasi Hasil Pengabdian kepada Masyarakat (JPM ITTC ) Khidmat: Journal Community Service Jurnal Akuntansi Kontemporer E-Jurnal Ekonomi dan Bisnis Universitas Udayana
Tarsisius Renald Suganda
Fakultas Ekonomi Dan Bisnis Unversitas Ma Chung Malang
Religion Arts Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Public Health Social Sciences Other

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The Effect of Environmental, Social, and Governance Disclosure on Firm Value Wongso, Devina Andreny; Suganda, Tarsisius Renald; Stephanus, Daniel Sugama
Jurnal Ilmiah Akuntansi dan Finansial Indonesia Vol 9 No 1 (2025): Volume 9. Issue. 1, October 2025
Publisher : Prodi Akuntansi FEBM Universitas Maritim Raja Ali Haji

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31629/ahfn0849

Abstract

This study examines the effect of ESG disclosure on firm value with a shareholder theory approach. This study uses a quantitative analysis of 147 observations of energy sector companies listed on the Indonesia Stock Exchange from 2021-2023. Firm value as the dependent variable is proxied by Tobin’s Q. The analysis shows that social, economic, and governance disclosures significantly adversely affect firm value. Meanwhile, ERM disclosures have a significant positive effect, while environmental disclosures do not affect firm value. These findings support the shareholder theory that assesses non-financial expenditure as a burden or waste of resources if they do not directly impact increasing profits. The study’s novelty lies in partially testing the five ESG aspects in the energy sector that are sensitive to greenwashing practices and market expectations. This research contributes to the development of ESG literature and provides insights for management and investors in emerging markets. 
Implementasi Strategi Trading Cryptocurrency Menggunakan Indikator QMI: Perspektif Sebelas Tahun pada Bitcoin (2013–2024) Swastika, Windra; Suganda, Tarsisius Renald; Cahyadi, Rino Tam
Jurnal Nusantara Aplikasi Manajemen Bisnis Vol 10 No 2 (2025): Jurnal Nusantara Aplikasi Manajemen Bisnis
Publisher : UNIVERSITAS NUSANTARA PGRI KEDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29407/nusamba.v10i2.25032

Abstract

  Research aim : This study aims to develop and test the effectiveness of a Quantitative Market Indicator (QMI)-based trading strategy to optimize Bitcoin investment returns while managing risk through controlled position allocation.. Design/Methode/Approach : The research follows five stages: data preprocessing, market indicator calculation, trading strategy design, performance analysis, and visualization. The QMI integrates three key indicators—Puell Multiple, Golden Fibonacci Index, and Pi Cycle—to identify market cycles and trend reversals. The systematic trading strategy applies buying rules when QMI < 20 and selling when QMI > 80, allocating 3% of capital for each transaction. Research Finding : The QMI strategy generated 1,101 transactions (479 buys, 622 sells), achieving a 12,670.71% return with an initial capital of USD 1,000 growing to USD 127,700.32. The maximum drawdown was 32.4%, the win rate 68.5%, and the Sharpe ratio 2.1, indicating strong performance with controlled risk. Theoretical contribution/Originality : This study introduces the integration of the Fibonacci sequence and the golden ratio in market cycle detection, enhancing prediction accuracy in volatile crypto markets. Practitioner/Policy implication : The QMI model provides a structured decision-making framework for crypto investors, emphasizing disciplined trading and adaptive risk management. Research limitation : Further development should integrate market sentiment and dynamic thresholds to refine model robustness.
DOES DIVIDEND POLICY MEDIATE THE EFFECT OF FINANCIAL PERFORMANCE AND CAPITAL STRUCTURE ON FIRM VALUE? Reza Septiana Wibowo; Tarsisius Renald Suganda; Daniel Sugama Stephanus
E-Jurnal Ekonomi dan Bisnis Universitas Udayana VOLUME.14.NO.10.TAHUN.2025
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EEB.2025.v14.i10.p04

Abstract

A company's dividend policy is a crucial element that influences financial performance and capital structure on firm value. This study builds on earlier research by analyzing the function of dividend policy as a mediator between financial performance, capital structure and firm value, with a focus on stocks included in the ISSI Index. This research aims to examine whether dividend policy serves as a mediating variable in the relationship between financial performance, capital structure and firm value among manufacturing firms listed on the ISSI Index. This quantitative study utilized a sample of 425 observations from manufacturing companies on the ISSI Index during the 2019–2023 period. The PLS-SEM position was employed in regression analysis. Profitability (ROA), liquidity (CR), leverage (DER), and capital structure (DAR) seemed amid the independent variables this were studied. Firm value was measured by Tobin’s Q and PBV as dependent variables, while dividend policy (DPR) served as the mediating variable. It was found that profitability and capital structure contribute positively to firm value, as measured by Tobin’s Q and PBV, whereas liquidity has a negative impact. Leverage only affects firm value when PBV is used as a proxy. Also, this study demonstrates that the relationship between profitability, liquidity, leverage, and capital structure on firm value (Tobin’s Q and PBV) is significantly mediated by dividend policy. By strengthening and extending the bird-in-the-hand theory, this research offers a theoretical contribution by highlighting the importance of dividend payouts in enhancing firm value, particularly for manufacturing companies listed on the ISSI Index.
Pendampingan Kelembagaan Republik Tani Mandiri Kopi Koetjoer Cahyadi, Rino Tam; Suganda, Tarsisius Renald; Kurniawan, Yudhi; Dewany, Amanda Salsa; Sugiarto, Christopher Mael; Chen, Noriko; Sunaryo, Sherly Natalia; Priswanti, Sheril
Sawala : Jurnal pengabdian Masyarakat Pembangunan Sosial, Desa dan Masyarakat Vol 6, No 2 (2025): Sawala : Jurnal pengabdian Masyarakat Pembangunan Sosial, Desa dan Masyarakat
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/sawala.v6i2.68028

Abstract

Republik Tani Mandiri (RTM) Kopi Koetjoer adalah kelompok tani yang berdiri pada 10 November 2019 di Desa Kucur, Kecamatan Dau, Kabupaten Malang. Kopi merupakan salah satu hasil pertanian di Desa Kucur yang terus dibudidayakan oleh masyarakat setempat. RTM hadir tidak hanya untuk sekedar mengangkat perekonomian para petani kopi, tetapi juga mengedukasi para petani mengenai proses produksi kopi. Tim penulis melakukan pendampingan kepada RTM yang berfokus pada sistem pencatatan keuangan yang masih menggunakan cara manual. Sistem pencatan keuangan RTM semula manual, tidak terstruktur, dan hanya bergantung kepada satu orang pencatat, kini dilakukan proses digitalisasi dengan diberikan sebuah aplikasi. Dengan adanya pendampingan ini dapat membantu RTM untuk mempermudah proses pencatatan dan meningkatkan efisiensi, serta megurangi risiko salah pencatatan akibat kurangnya sumber daya manusia. Selain itu, diadakan juga pelatihan manajemen operasional, kepemimpinan kelembagaan koperasi dan pelatihan pemasaran digital untuk penguatan aspek manajemen usahanya.
MARKET REACTION TO THE RATIFICATION OF “RUU IBU KOTA NUSANTARA” Susanto, Ingrid; Munaiseche, Giovanni Christiawan; Suganda, Tarsisius Renald; Cahyadi, Rino Tam
Jurnal Akuntansi Kontemporer Vol. 18 No. 1 (2026): Jurnal Akuntansi Kontemporer
Publisher : Widya Mandala Surabaya Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Research Purposes. This study aims to analyse the Indonesian capital market’s reaction to the ratification of the “RUU Ibu Kota Nusantara” using abnormal return (AR) and trading volume activity (TVA) on IDX30 companies. Research Methods The study applies an event study approach using the market model and a paired-samples t-test to secondary data from 2022, including daily stock prices, the composite index (IHSG), and trading volume. Research Results and Findings. The findings indicate a significant market reaction on the tenth day prior to the event, characterized by positive AR, suggesting the market's positive anticipation of the bill's ratification. However, during other periods, the market reaction was not significant, implying that the announcement's impact was temporary. For TVA, the paired-samples t-test results reveal a significant difference between the pre- and post-enactment periods, indicating an increase in stock trading volume following the announcement. This study concludes that the enactment of the Nusantara Capital City Bill had a temporary impact on market reaction and increased stock trading volume activity. These findings provide empirical evidence for investors and the government to better understand how significant policies influence the capital market and support more informed investment decision-making.
Optimalisasi Pembukuan Koperasi Konsumen Lumbung Berkat Tulang Bawang Melalui Pendampingan Implementasi SAK Entitas Privat (SAK-EP) Soesanto, Catherine Agatha; Fernanda, Rachel Widya; Pratama, Bagas Brian; Cahyadi, Rino Tam; Suganda, Tarsisius Renald; Stephanus, Daniel Sugama
Khidmat: Journal of Community Service Vol 2 No 2 (2025): Agustus, 2025
Publisher : Pusat Studi Kebijakan dan Tata Kelola Maritim, Universitas Maritim Raja Ali Haji

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31629/khidmat.v2i2.7408

Abstract

Koperasi merupakan salah satu bentuk usaha ekonomi yang berperan penting dalam meningkatkan kesejahteraan anggotanya. Namun, banyak koperasi di Indonesia masih menghadapi tantangan dalam penyusunan laporan keuangan, terutama menjelang Rapat Anggota Tahunan (RAT), yang menjadi forum pertanggungjawaban pengurus kepada anggota. Permasalahan umum yang dihadapi adalah keterlambatan serta ketidaksesuaian dalam pencatatan dan pembukuan keuangan, yang berdampak pada rendahnya tingkat transparansi dan akuntabilitas, serta berpotensi mengganggu proses pembagian Sisa Hasil Usaha (SHU). Untuk mengatasi permasalahan ini, dilakukan pendampingan kepada Koperasi Konsumen Lumbung Berkat Tulang Bawang agar mampu melakukan pembukuan dan pencatatan keuangan sesuai dengan Standar Akuntansi Keuangan Entitas Privat (SAK-EP) yang berlaku di Indonesia. Pendampingan dilakukan melalui pendekatan konsultatif dan fasilitasi secara langsung, yang melibatkan pelatihan pemahaman prinsip dasar akuntansi, penerapan sistem pembukuan sederhana dan efektif, serta penyesuaian dalam pencatatan transaksi keuangan menggunakan aplikasi Microsoft Excel. Hasil dari kegiatan ini menunjukkan peningkatan yang signifikan dalam penyusunan laporan keuangan koperasi, baik dari sisi akurasi, akumulasi data pembukuan, maupun kepatuhan terhadap standar akuntansi. Koperasi juga menunjukkan peningkatan kemampuan dalam pengelolaan keuangan, persediaan, serta barang konsinyasi. Kegiatan ini berdampak langsung pada peningkatan transparansi dan akuntabilitas laporan keuangan dalam RAT.
Co-Authors Angelene, Deana Putri Anneth Regina Hariyono AUREL SEPTIAN CHRISTPRATAMA Ayu, Regina Diah Retno Chen, Noriko Christofer Genta Kresnamurti Simatupang Daniel Sugama Stephanus Dewany, Amanda Salsa Fernanda, Rachel Widya Gaybiddinovich, Khorilov Tokhir Halim, Dorothy Srikandi Hartati Hartati Hartono, Patricia Vintya Christi Munaiseche, Giovanni Christiawan Oktariani, Fitri Pratama, Bagas Brian Priswanti, Sheril Reza Septiana Wibowo Rino Tam Cahyadi, Rino Tam Rochmadhona, Bella Nursyarifa Sendy Cahyadi, Sendy Soesanto, Catherine Agatha Sugiarto, Christopher Mael Sunaryo, Sherly Natalia Susanto, Ingrid Tedja, The Wechen Abraham Wicaksono, Rhenaldy Pius Wijaya, Ryan Ariesco Windra Swastika Windra Swastika Wongso, Devina Andreny Yonatan Soetrisno Yudhi Kurniawan