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All Journal Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) MABIS Journal of Management and Business Review Jurnal Ilmiah Ekonomi Islam Jurnal Maneksi (Management Ekonomi Dan Akuntansi) Journal of Information System, Applied, Management, Accounting and Research Jurnal Mantik Al-Kharaj: Journal of Islamic Economic and Business Journal La Bisecoman International Journal of Informatics, Economics, Management and Science Journal of Management and Administration Provision International Journal of Enterprise Modelling Journal of Economics and Management Scienties
Hadi Santoso
Universitas Widya Dharma Pontianak
Biochemistry, Genetics & Molecular Biology Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Earth & Planetary Sciences Economics, Econometrics & Finance Education Energy Engineering Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Library & Information Science Materials Science & Nanotechnology Mathematics Neuroscience Physics Social Sciences Transportation

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Kebijakan Manajemen Leverage dan Pengaruhnya Terhadap KEnaikan Profitabilitad Perusahaan Studi Kasus pada Perusahaan PT Charoen Pokphan Indonesia, Tbk Santoso, Hadi
MABIS Vol 2, No 1: Juli 2011
Publisher : MABIS

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Abstract

The use of leverage in running a company aims to increase its profit. Leverage can be differentiated into two; operating and financial leverage. In the daily operations, the company uses both leverages simultaneously. In other words, the company uses a combined leverage. The aim is to increase the shareholders net income or earnings per share because of the increase in the sales resulted from the use of leverage. This study aims to determine the extent of the influence of using combined leverage to increase return on equity and earnings per share. The study was conducted using case study method. The poultry feed company, PT Charoen Pokphan Indonesia, Tbk (CPIN), became the object of the research. The results show that CPIN used a fairly large leverage in its operation during 2005 to 2008. However, the company management took another policy which was to reduce the use of operational leverage in 2009. The result indicates that the use of leverage did not bring significant impact on improving ROE and EPS. This happened because the cost of the companys operations outside the fixed costs as a result of using leverage was very large. Therefore, CIPN should control its operational costs in the future.
Kajian Penerapan GCG, Kinerja Keuangan dan Kaitannya dengan Nilai Perusahaan Yang Terdaftar di LQ-45 Santoso, Hadi
MABIS Vol 2, No 2: Desember 2011
Publisher : MABIS

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Abstract

This study examines the influence of good corporate governance mechanisms consisting of the number of independent Commisioner members, institutional ownership, the number of audit committee members, the number of board members, return on assets and the price to book value ratio of the selected companies. This study uses as its sample, the 36 companies listed in the LQ-45 from the period August 2008 until January 2010. The data used are taken from the annual reports of the companies from 2008 to 2010. Data are analyzed with classical assumption test and multiple linear regression analysis using SPSS version 16. The normality test shows a normal distribution of data in this study; there is no multicollinearity or heteroscedasticity, and no autocorrelation. Hypothesis testing shows variable X1 (number of independent commisioner members), variable X2 (Institutional Ownership), and variable X3 (number of audit committee) had no significant effect on firm value. However, variable X4 (number of board members) and variable X5 (return on assets) show significant effect on firm value. Simultaneous testing demonstrated a significant effect from the five independent variables on firm value. The analysis indicates that applied good corporate governance will significantly affect company performance and hence will be transferred to company
The Impact of Investment Decision and Funding on Financial Performance and Firm Value Santoso, Hadi
Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 8, No 2 (2019): Jurnal Ekonomi Bisnis dan Kewirausahaan (JEBIK)
Publisher : Fakultas Ekonomi dan Bisnis, UNTAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (242.31 KB) | DOI: 10.26418/jebik.v8i2.31153

Abstract

Managers who are responsible for the management of companies are faced with two important decisions - investment and funding. The right investment decisions and choice of funding sources are important because they affect the company's financial performance. The selection of the types of assets to be invested and the right types of financing sources result in optimal returns for the company. It reflects good company performance and future prospects. In addition, optimal return is a good sign for investors. Companies that perform well experience increase in the value of their firm. This study examined the effect of investment decisions and the selection of appropriate sources of funds on the performance of the company and the consequent impact on the firm value. The study was conducted in two parts. The first part examined the effect of investment decisions on long-term assets with long-term funding on the rate of return and firm value. The second part examined the effect of investment decisions on the company's short-term assets and funding for financial performance and firm value. The case study used in this research is a consumer goods sub-sector company listed on the Indonesia Stock Exchange in the period 2010 to 2017. Path analysis is the data analysis tools that was used. The results of data analysis showed that the asset structure has an effect on financial performance and firm value. The capital structure affects the financial performance but does not affect the firm value of the company. Financial performance was measured by ROI.
Capital Structure Affect Asset Structure, Income Volatility, And Financial Flexibility In islamic Industrial Sector Companies Andre Prasetya; Hadi Santoso
Jurnal Ilmiah Ekonomi Islam Vol 9, No 3 (2023): JIEI : Vol.9, No.3, 2023
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v9i3.10896

Abstract

The capital structure of every company is a critical concern. Capital structure affects a company’s financial status. Financial flexibility, internal company conditions, market conditions, operating leverage, the perspective of lenders and rating agencies, management perspectives, controls,taxes, profitability (lity,afinancialcture, and sales stability) are some of the variables typically taken into account by cperspectivesgement when making decisions about capital structure. The purpose of this study is to ascertain how asset structure, earnings volatility, and financial flexibility impact capitaconsideredmpanies from the consumer products industry sector listed on the Indonesia Stock Exchange. population of this study, and 39 companies were chosen as the sample using a purposive sampling technique. Multiple linear regression analysis utilizing the Eviews program was used in this study. The probability value of the asset structure is 0.0107 0.05, and its positive directional regression coefficient is 0.169937. A positive direction regression coefficient of 0.074237 and a prob value of 0.84246 > 0.05 are both present for earnings volatility. The b-value for financial flexibility is 0.00326 (less than 0.05), and the positive regression coefficient is 0.259236. In conclusion, while earnings volatility has no influence on capital structure, financial flexibility and asset structure variables have beneficial impacts. By examining these aspects, this research is anticipated to help the decision-making process for the growth of a company.
PENGARUH HARGA, KUALITAS DAN IKLAN PRODUK TERHADAP MINAT BELI KEMBALI SKINCARE SCARLETT DI KALANGAN MAHASISWI JAKARTA Dewi, Sita; Andhitiyara, Revan; Manoe, Wahi Silvana; Wennadi, Luky Yunia; Santoso, Hadi
Journal of Information System, Applied, Management, Accounting and Research Vol 8 No 4 (2024): JISAMAR (September-November 2024)
Publisher : Sekolah Tinggi Manajemen Informatika dan Komputer Jayakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52362/jisamar.v8i4.1513

Abstract

Skincare is one of the beauty products used for skin care. Skincare users are mostly women, because women want their skin to always be healthy and well-groomed. Skincare includes cosmetics where the growth of the cosmetics industry has increased. The ease of getting beauty products, especially skincare, relatively affordable prices, good and safe products, and the existence of vigorous promotions in mass media and social media make people all moved to buy skincare beauty products. People will be interested in repurchasing a product if they are satisfied with the product, either from the quality of the product, the price is considered affordable or the promotion is attractive. This study aims to determine the effect of price, product quality and product advertising on the interest in repurchasing Scarlett skincare among Jakarta female students, either partially or simultaneously. The population of this study were Jakarta students who used Scarlett skincare. The sample was 100 Jakarta female students, who were selected by accidental sampling. By using the logistic regression analysis method, the results showed that partially only product quality has a significant effect on the interest in repurchasing Scarlett skincare. While simultaneously, price, product quality, product advertising have a significant effect on the interest in repurchasing Scarlett skincare.
The Impact of Enterprise Risk Management and Sustainability Disclosures on Corporate Value with Corporate Governance as a Moderating Variables Ganishti, Fairly Sekar; Wennadi, Luky Yunia; Santoso, Hadi
International Journal of Informatics, Economics, Management and Science Vol 4 No 1 (2025): IJIEMS (January 2025)
Publisher : Sekolah Tinggi Manajemen Informatika dan Komputer Jayakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52362/ijiems.v4i1.1771

Abstract

Globalization fosters economic growth and intensifies competition within the business sector, highlighting the increasing importance of information transparency as a source of competitive advantage. Risk disclosures and Sustainability Reports play a pivotal role in enhancing stakeholder trust and boosting firm value through transparency. This study investigates the impact of risk disclosure and Sustainability Report disclosures on firm value, while also exploring the moderating role of Corporate Governance. Using purposive sampling, data from 80 companies listed in the Kompas 100 index in 2022 were analyzed using E-Views software. The findings reveal that risk disclosure positively influences firm value, whereas the disclosure of Sustainability Reports does not significantly affect firm value. Additionally, CG moderates the relationship between risk disclosure and firm value, reinforcing its negative impact, while CG strengthens the positive relationship between Sustainability Report disclosure and firm value. These results offer valuable insights into the role of transparency and governance in shaping corporate outcomes in a globalized market.
The Nexus of Ownership Structure, Profitability, Financing and Firm Value: Testing the Moderating Role of Firm Size Eva, Lidwina; Hartono, Hartono; Santoso, Hadi
Journal of Management and Administration Provision Vol. 5 No. 2 (2025): Journal of Management and Administration Provision
Publisher : Pusat Studi Pembangunan dan Pemberdayaan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55885/jmap.v5i2.617

Abstract

This study aims to analyze the influence of managerial ownership, institutional ownership, profitability, and leverage on firm value, with firm size as a moderator. High firm value will send a positive signal to investors. This quantitative study uses 165 observational data obtained from the financial statements of non-cyclical consumer sector companies (2019-2023). This research tests eight hypotheses using panel data regression involving firm size as a moderating variable (Moderated Regression Analysis–MRA). The results show that institutional ownership and leverage (DER) have no effect on firm value. Meanwhile, managerial ownership shows a positive effect on firm value, and profitability (ROE) shows a negative effect on firm value. Furthermore, in testing the moderation model, the firm size variable weakens the effect of institutional ownership on firm value. This interaction effect is not apparent in testing managerial ownership (MAN), profitability (ROE), and leverage (DER) on firm value (PBV). Other findings indicate that firm size in the study does not act as a pure moderator, but rather as a quasi-moderator.
Does ESG Risk Rating Matter for Firm Value in Indonesia? Testing the Interaction Effect of Firm Size: JEL Classification: G30, G32, G34 Natalia, Evy; Santoso, Hadi; Hartono`, Hartono
Journal La Bisecoman Vol. 6 No. 3 (2025): Journal La Bisecoman
Publisher : Newinera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/journallabisecoman.v6i3.2299

Abstract

This study aims to analyze the impact of ESG Risk Rating, profitability, and growth opportunity on firm value. Given the ongoing debates surrounding ESG research in Indonesia, a more in-depth examination is required. The researcher has developed three econometric models to test six hypotheses related to this issue. This research is distinct from previous studies as it proposes an integrated model incorporating firm size as a moderating variable. The estimation model was tested using moderated regression analysis (MRA), with data comprising 240 observations over the period 2019-2024. The analysis results indicate that ESG Risk Rating in Indonesia does not have a significant impact on firm value. However, profitability and growth opportunity exhibit a significant positive effect on firm value. Further, the interaction model analysis reveals that firm size moderates the relationship between growth opportunity and firm value. These findings suggest that, at present, ESG Risk Rating information in Indonesia is not considered relevant by investors in assessing corporate performance.
Investigation of Islamic Social Reporting, Public Ownership, Size and Firm Value: Testing the Mediation Effect of Financial Performance: JEL Classification: G32, G34, M14, Q56, Z12 Rosmiati, Rosmiati; Hartono, Hartono; Santoso, Hadi
Journal La Bisecoman Vol. 6 No. 3 (2025): Journal La Bisecoman
Publisher : Newinera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/journallabisecoman.v6i3.2300

Abstract

This study aims to analyze the influence of Islamic Social Reporting (ISR), public ownership, and firm size on firm value, with financial performance as a mediating variable, focusing on companies listed in the Jakarta Islamic Index (JII) on the Indonesia Stock Exchange (IDX). ISR serves as a crucial indicator for measuring corporate compliance with Sharia principles, encompassing social and environmental aspects. Research combining ISR with public ownership and firm size mediated by financial performance remains relatively rare in Indonesia. The study observes companies included in the JII, utilizing annual financial report data from 2019 to 2023. Path analysis is used to examine the relationships between variables through 10 research hypotheses. The analysis results indicate that ISR and public ownership (KPP) do not influence firm value (Tobin’s Q, TBQ). Meanwhile, firm size (SIZ) negatively affects financial performance (KJK) and TBQ. In the second model test, KJK appears to positively affect TBQ, while ISR shows a negative effect on TBQ. Furthermore, the Sobel test results reveal that KJK can only mediates the effect of SIZ on TBQ. Mediation effects of KJK on TBQ are not observed for ISR and KPP. These findings confirm that ISR directly affects TBQ. The negative impact of ISR needs further investigation, as it is inconsistent with theoretical concepts.
Determinasi Nilai Perusahaan dengan Profitabilitas sebagai Mediasi: Studi Kasus pada Perusahaan Sektor Energi Yolanda, Agusius; Santoso, Hadi
Journal of Economics and Management Scienties Volume 8 No. 1, December 2025
Publisher : SAFE-Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37034/jems.v8i1.242

Abstract

Penelitian ini menganalisis perubahan nilai perusahaan yang terjadi pada sektor energi yang terdaftar di Bursa Efek Indonesia. Penelitian ini menggunakan sampel perusahaan sektor energi pada periode 2020-2024, dengan jumlah 247 observasi yang diuji menggunakan EViews 13. Penelitian ini memiliki tujuan untuk menguji hubungan antara manajemen modal kerja dan struktur modal terhadap nilai perusahaan dengan profitabilitas sebagai variabel mediasi. Hasil pengujian yang telah dilakukan menunjukkan bahwa manajemen modal kerja, struktur modal, dan profitabilitas berpengaruh positif terhadap nilai perusahaan. Temuan ini menunjukkan bahwa perusahaan terbukti mampu mengoptimalkan modal kerja secara optimal, serta menggunakan utang dalam mendukung kegiatan operasional perusahaan dan berdampak pada peningkatan penjualan perusahaan. Hasil pengujian manajemen modal kerja terhadap profitabilitas berpengaruh positif, sedangkan pengujian struktur modal terhadap profitabilitas berpengaruh negatif. Hal ini disebabkan oleh beban bunga yang harus dibebankan perusahaan sehingga mengakibatkan penurunan laba bersih perusahaan. Profitabilitas sebagai variabel mediasi mampu memediasi hubungan antara manajemen modal kerja terhadap nilai perusahaan secara positif, sementara profitabilitas mampu memediasi hubungan antara struktur modal terhadap nilai perusahaan secara negatif. Penelitian ini memberikan kontribusi tambahan terhadap penelitian sebelumnya yang membahas hubungan antara manajemen modal kerja dan struktur modal terhadap nilai perusahaan melalui profitabilitas.
Co-Authors Andhitiyara, Revan Andre Prasetya Anjelika, Anjelika Dewi, Sita Eva, Lidwina Ganishti, Fairly Sekar Hartono Hartono Hartono Hartono Hartono`, Hartono Ineputri, Aprilia Loika Jason Jason Manoe, Wahi Silvana Melly Engely Natalia, Evy Putrandy, Leonardo Rosmiati Rosmiati Valeria Vivi Silvia Wennadi, Luky Yunia Wulan Dari, Ranti Yolanda, Agusius