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Pengaruh Perputaran Modal Kerja dan Struktur Modal terhadap Profitabilitas pada PT Indofod CBP Sukses Makmur Tbk Periode 2014-2023 Agus Suhartono; Iriana Kusuma Dewi; Nani Rusnaeni
SCIENTIFIC JOURNAL OF REFLECTION : Economic, Accounting, Management and Business Vol. 9 No. 1 (2026): SCIENTIFIC JOURNAL OF REFLECTION: Economic, Accounting, Management, & Business
Publisher : Sekolah Menengah Kejuruan (SMK) Pustek

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37481/sjr.v9i1.1314

Abstract

The financial performance of a company is largely determined by its ability to manage working capital efficiently and maintain an optimal capital structure. In the case of manufacturing and consumer goods companies such as PT Indofood CBP Sukses Makmur Tbk, the balance between liquidity and financing decisions plays a crucial role in sustaining profitability and long-term growth. This study aims to determine the effect of working capital turnover and capital structure on profitability, both partially and simultaneously. The research employs a quantitative approach using secondary data obtained from the company’s annual financial statements over a ten-year period. Data analysis techniques include classical assumption testing, multiple regression analysis, autocorrelation testing, coefficient of determination analysis, and hypothesis testing. The results reveal that both working capital turnover and capital structure have a significant positive effect on profitability. This indicates that the more efficiently the company manages its working capital and the more effectively it maintains its capital structure, the higher its profitability will be. The findings highlight the importance of strategic financial management in optimizing operational efficiency and ensuring financial stability. Overall, this study contributes to understanding how internal financial decisions influence company performance and provides practical implications for improving profitability within the manufacturing sector.
Financial performance, capital structure, and firm's value: The moderating role of dividend policy N Rusnaeni; Hari Gursida; Hendro Sasongko; Dani Rahman Hakim
Journal of Business, Social and Technology Vol. 4 No. 1 (2023): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v4i1.77

Abstract

This study examines the effect of financial performance and capital structure on firm value with dividend policy as a moderating variable. The sample in this study was 13 property and real estate sector companies from 2011 to 2020, with a total of 130 observations. This study found that financial performance and capital structure positively affect firm value. Meanwhile, this study finds that dividend policy cannot moderate the effect of financial performance and capital structure on firm value. The results of this study indicate that property and real estate investors still prioritize the firm's financial performance. Investors are relatively more cautious in investing in property and real estate sector companies even though the dividends offered are pretty high. Thus, property and real estate sector companies need to be more creative in improving their financial performance and obtaining resources to develop their business.
Edukasi Literasi Keuangan dan Strategi Pengelolaan Modal Usaha bagi UMKM di Kecamatan Pagedangan Tangerang Agus Suhartono; Nani Rusnaeni; Agus Supriatna; Siti Nur Juliansyah; Syamia Nawal Habibah
Jurnal PKM Manajemen Bisnis Vol. 6 No. 2 (2026): Jurnal PKM Manajemen Bisnis
Publisher : Perhimpunan Sarjana Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37481/pkmb.v6i2.2418

Abstract

Micro, Small, and Medium Enterprises (MSMEs) play an important role in supporting local economic development, yet many business actors still face challenges in managing finances and working capital effectively. Limited financial literacy may lead to poor financial planning, inadequate separation between business and personal finances, and inefficient use of business capital. This community service activity aimed to improve the financial literacy of MSME actors and strengthen their ability to manage business capital effectively and sustainably. The activity was conducted at the GP Ansor Pagedangan Office, Tangerang, on April 4–5, 2026. The activity involved five lecturers and students from the Management Study Program, Universitas Pamulang, and 18 GP Ansor members who work as MSME entrepreneurs. The implementation consisted of three stages: preparation, implementation, and reporting. During the implementation stage, participants received material presentations, practical exercises, discussions, and question-and-answer sessions focusing on basic financial literacy, financial management, business capital planning, and strategies for efficient capital utilization. The results showed increased participant understanding of financial management and business capital allocation. Participants also demonstrated greater awareness of the importance of separating personal and business finances, preparing simple financial records, and planning capital according to business needs. The activity therefore contributed to strengthening participants’ financial management capacity and supporting more sustainable MSME development.
EFFECT OF INVESTMENT DECISION AND DIVIDEND POLICY TO THE VALUE OF PT ASTRA ARGO LESTARI TBK IN 2009-2015 Rukmini Rukmini; Nani Rusnaeni
JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) Vol 4, No 1 (2018): Vol 4, No 1 (2018)
Publisher : Universitas Pakuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34203/jimfe.v4i1.1107

Abstract

The purpose of this research was to know the influence of investment decision (TAG) to company value (PBV) of PT Astra Argo Lestari Tbk, to know the influence of dividend policy to PTVVA value, to know influence of investment decision and dividend policy to PT Astra Argo Lestari Tbk's value from 2009-2015. Script collection method in this final project was using documentation method, research library, and internet research. While the data analysis method used was descriptive statistical analysis, simple linear regression analysis and multiple hypotheses test. The author conducted a study at the Indonesian Capital Market Electronic Library (ICaMEL) located at the Jakarta Stock Exchange building. The object of study in this research is how big influence of decision of investment and policy of dividend to PT Astra Argo Lestari company value. Based on the result of research using SPSS 23, it is found that investment decision influence 17% to company value, dividend policy influence 45% to company value and investment decision and dividend policy together influence 90,8%. Meanwhile 9.2% other variables were not examined in this study.