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Analysis of the Effect of Good Corporate Governance, Company Size and Liquidity on Dividend Policy and Company Value with Profitability as an Intervening Variable in State-Owned Companies Listed on the IDX 2011 – 2019 Zuhandi; Iskandar Muda; Sirojuzilam
Jurnal Mantik Vol. 5 No. 1 (2021): May: Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

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Abstract

Research aims to analyze the influence of good corporate governance , company size, liquidity and profitability as factors affecting the company's dividend policy and the value of the state-owned enterprises listed on the Indonesia Stock Exchange Period 2011-2019. The type of data used is secondary data and the data analysis technique used is Panel Data Regression Analysis using STATA software. The results of the study with an alpha level of five percent showed that GCG had no significant effect on profitability, while company size had no significant positive effect and liquidity had a significant positive effect on profitability. GCG and company size have a negative and insignificant effect on dividend policy, while liquidity and profitability have a significant positive effect on dividend policy. Furthermore, GCG and liquidity have a negative and insignificant effect on firm value, while company size has a significant negative effect on firm value. positive and significant impact on firm value. The results of path analysis I show that GCG has an indirect negative effect and company size indirectly has a positive effect on dividend policy through profitability, while liquidity does not have an indirect effect on dividend policy through profitability. Path II analysis, company size and liquidity indirectly have a positive effect and GCG indirectly has a negative effect on firm value through profitability
Influence Of Corporate Social Responsibility, Board Of Commissioners, Board Of Director And Audit Committee On Financial Performance With Profit Management As A Moderating Variable In Listed Manufacturing Companies On The Indonesia Stock Exchange ( Idx) Nurul Aulia Sani; Erlina; Sirojuzilam
Jurnal Mantik Vol. 6 No. 2 (2022): August: Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v6i2.2609

Abstract

This study aims to examine and analyze the effect of corporate social responsibility, the board of commissioners, the board of directors, the audit committee on financial performance with earnings management as the moderating variable. The population in this study were 171 manufacturing companies listed on the Indonesian stock exchange for the period 2010-2019, with The sampling technique was purposive sampling so that 35 samples were obtained. The data analysis method used multiple linear regression analysis and interaction test with the help of the Eviews application program. The results show that CSR, the board of commissioners and the audit committee partially have a positive effect on financial performance, while the board of directors partially has no effect on financial performance. Simultaneously CSR, the board of commissioners, the board of directors and the audit committee simultaneously have a significant effect on financial performance Earnings management as a moderating variable is able to moderate the influence of the audit committee simultaneously has a significant effect on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange for the 2010-2019 period . The moderating variable is not able to moderate the influence of CSR, the board of commissioners and the board of directors simultaneously have a significant effect on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange for the 2010-2019 period
Sustainable Ecology: Problems and the Perspective of Ecosystems in Tangkahan Yayuk Yuliana; Endang Sulistya Rini; Sirojuzilam; Syafrizal Helmi Situmorang
Ilomata International Journal of Management Vol 4 No 4 (2023): October 2023
Publisher : Yayasan Ilomata

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52728/ijjm.v4i4.781

Abstract

Tourism is a priority sector. Ecotourism involves the community as one of the main actors and prioritizes resource sustainability. Ecological tourism is a sub-category of sustainable tourism or one of the market segments of natural environment-based tourism. The issue of sustainable development has become an important issue that needs to be disseminated in the midst of society and our country can compete and develop following the era of globalization. Ecotourism provides environmental, cultural and economic benefits to local communities. This article describes the management of sustainable ecotourism destinations for a region in Indonesia. Qualitative method is a descriptive method used in this study to provide an overview of the object under study. The results of the study show that the development of ecotourism in Tangkahan is through ecotourism stakeholders who are involved in ecotourism development which in turn has an impact on ecotourism development. Pandemic- era tourism must be able to be developed properly so that health protocols are still carried out but can still attract visitors. Prepare plans that are in accordance with human needs for tourism but are still aligned with protocols for the health of visitors, managers and the community.
THE INFLUENCE OF THE CONSTRUCTION OF THE SITAKKURAK IRRIGATION DAM ON AREA DEVELOPMENT IN BARUS DISTRICT, CENTRAL TAPANULI DISTRICT Bernardo Sondang H Lumban Gaol; Sirojuzilam; Riadil Akhir Lubis
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 4 No. 1 (2024): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v4i1.1583

Abstract

The Sitakkurak Irrigation Dam project which is being implemented in Barus District, Central Tapanuli Regency is a form of concern for the Central Government for the people. The irrigation project is carried out by the Ministry of Public Works, Directorate General of Water Resources. The objectives of this research are to: 1) Analyze differences in farmer production before and after the construction of the Akkurak irrigation weir, Barus District, Central Tapanuli Regency, and 2) Analyze what factors influence rice farmers' production in the Sitakkurak Irrigation area, Barus District, Central Tapanuli Regency. Research was carried out in Central Tapanuli Regency regarding the Influence of the Construction of the Sitakkurak Irrigation Dam on Regional Development in Barus District, Central Tapanuli Regency. The analytical method used in this research is the t-difference test and multiple regression analysis with a total of 69 respondents. The research results showed that there was a difference in farmers' rice production before and after the Sitakkurak irrigation dam and showed a significant influence because the results of the two paired sample tests were 0.000 < 0.05. The average value of farmers' rice production before the Sitakkurak irrigation dam was 3.77 tons per planting season and the average value of rice production after the Sitakkurak irrigation dam was 4.17 per planting season. These results show that there is a difference of 0.40 per planting season. Simultaneously, the factors of land area, rice seeds, fertilizer, pesticides and number of workers have a significant effect on rice production. Partially, the factors of land area, rice seeds, fertilizer and number of workers have a positive and significant effect on rice production, while the pesticide factor has a positive and insignificant effect on rice production.
THE INFLUENCE OF MACROECONOMIC DYNAMICS ON ECONOMIC GROWTH IN DEVELOPING G20 COUNTRIES M. Wahyu Shihab; Sirojuzilam; M. Syafii
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 6 No. 1 (2026): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v6i1.4731

Abstract

This study investigates the long-run and short-run effects of macroeconomic variables—inflation, interest rates, exchange rates, foreign direct investment (FDI), and government expenditure—on economic growth using annual panel data from nine developing G20 economies over the period 2000–2023. The Panel ARDL model with the Pooled Mean Group (PMG) estimator is applied to capture cross-country heterogeneity while ensuring consistent long-run estimates. Long-run results indicate that inflation (β=0.147; p<0.01), FDI (β=0.191; p<0.01), and government expenditure (β=0.390; p<0.01) positively and significantly affect GDP growth, whereas interest rates exert a negative impact (β=-0.249; p<0.01). Exchange rates show no significant long-run effect. In the short run, FDI (β=0.046; p<0.05) and exchange rate (β=0.876; p<0.01) significantly stimulate growth, while inflation shows marginal significance (β=0.044; p<0.10). The error correction term (β=-0.846; p<0.01) confirms rapid adjustment toward equilibrium. These findings highlight the importance of inflation stability, prudent monetary policy, FDI promotion, and efficient fiscal spending in sustaining economic growth across developing G20 countries.
THE ROLE OF LABOR IN MEDIATING THE EFFECT OF WAGES, INVESTMENT, EDUCATION AND HEALTH ON GROSS REGIONAL DOMESTIC PRODUCT IN INDONESIA Aini Rahma; Sirojuzilam; M. Syafii
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 6 No. 1 (2026): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v6i1.4732

Abstract

Equitable and sustainable economic growth has become an important agenda in Indonesia’s development, especially through the strengthening of the Gross Regional Domestic Product (GRDP). Labor is a main production factor that is suspected to play a mediating role in channeling the influence of various economic determinants on regional performance. This study aims to analyze the role of labor (LFPR) in mediating the influence of wages, domestic investment (PMDN), education, and health on GRDP in 34 provinces in Indonesia during the 2014–2023 period. The analysis was carried out using panel data with a path analysis approach and mediation testing using the Sobel Test. The results of the study show that directly wages, education, health, and investment have a significant effect on GRDP, while the influence of these variables on LFPR shows variations in significance. Indirectly, only wages and education are proven to have a significant effect on GRDP through LFPR as a mediating variable, while investment and health do not show significant mediation effects. These findings emphasize that improving the quality and involvement of labor is an important channel in transmitting the economic impact of wage and education improvements, while the influence of investment and health works more dominantly through direct mechanisms on economic output. This study contributes to strengthening the literature on human-capital-based development and provides more directed policy guidance in encouraging inclusive and sustainable regional economic growth.