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All Journal Jurnal Ekonomi MIX : Jurnal Ilmiah Manajemen JASF (Journal of Accounting and Strategic Finance) Jurnal Bakti Masyarakat Indonesia Jurnal Pengabdian kepada Masyarakat Nusantara Jurnal Paradigma Akuntansi Jurnal Kontemporer Akuntansi
Jonnardi
Fakultas Ekonomi Dan Bisnis Universitas Tarumanagara Jakarta
Agriculture, Biological Sciences & Forestry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Social Sciences Other

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PENGARUH PROFITABILITAS, LIKUIDITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DENGAN SUKU BUNGA SEBAGAI VARIABEL MODERASI Eriga Chintya Dewi; Jonnardi Jonnardi
Jurnal Kontemporer Akuntansi Volume 1, No. 2, September 2021
Publisher : Fakultas Ekonomi Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (205.256 KB) | DOI: 10.24912/jka.v1i2.15089

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, likuiditas dan struktur modal terhadap nilai perusahaan dengan suku bunga sebagai variabel moderasi di bursa efek Indonesia (BEI). Profitabilitas diukur dengan  Return on Asset, variabel likuiditas diukur dengan  current ratio, variabel struktur modal diukur dengan DER, suku bunga mengacu kepada suku bunga Bank Indonesia, dan Nilai Perusahaan sendiri diukur dengan PBV Penelitian ini dilakukan menggunakan model regresi berganda dengan sampel sebanyak 194 yang memenuhi kriteria sampel di Bursa Efek Indonesia (BEI) pada periode 2014 - 2018.Teknik pengumpulan data dalam penelitian ini adalah data sekunder dan diolah dengan program Eviews 10. Hasil penelitian menunjukkan bahwa Struktur Modal berpengarruh terhadap nilai perusahaan, sedangkan variabel lain yaitu profitabilitas dan likuiditas tidak memiliki pengaruh terhadap nilai perusahaan
PENGARUH PROFITABILITAS, LIKUIDITAS, STRUKTUR MODAL, DAN SUKU BUNGA TERHADAP NILAI PERUSAHAAN Novita Sari Dewi Tandiawan; Jonnardi Jonnardi
Jurnal Kontemporer Akuntansi Volume 2, No. 1, Maret 2022
Publisher : Fakultas Ekonomi Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jka.v2i1.18121

Abstract

This study aims to determine the effect of profitability, liquidity, and capital structure on the value of the firm with interest rates as a moderating variable in mining sector companies listed on the Indonesia Stock Exchange. The method of determining the sample was by scanning sampling, the number of samples obtained was 34 companies in the mining sector. The random Effect Model was used for this research using Eviews application version 9.0. Research result indicates that liquidity has a significant positive effect on the firm’s value, while profitability and capital structure has no significant effect on the firm’s value, interest rates as a moderating variable also has no proof in moderating the relationship between capital structure and value of the firm.
FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PERUSAHAAN INDUSTRI KONSUMSI YANG TERDAFTAR DI BEI Dewandaru Agung Pramita; Jonnardi Jonnardi
Jurnal Kontemporer Akuntansi Volume 1, No. 1, Maret 2021
Publisher : Fakultas Ekonomi Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (367.239 KB) | DOI: 10.24912/jka.v1i1.15070

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh dari likuiditas, profitabilitas, pertumbuhan penjualan, risiko bisnis dan ukuran perusahaan terhadap struktur modal yang dimoderasi oleh tingkat suku bunga baik secara simultan maupun secara parsial pada perusahaan sektor industri barang konsumsi. Sampel yang digunakan adalah perusahaan sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia tahun 2014 – 2019.  Metode analisis yang digunakan adalah analisis deskriptif dan regresi linear berganda dengan toleransi tingkat kesalahan (alpha) sebesar 5%. Hasil penelitian menyatakan bahwa secara bersama-sama likuiditas, profitabilitas, pertumbuhan penjualan, risiko bisnis dan ukuran perusahaan berpengaruh terhadap struktur modal sebesar 86.32%.  Variabel profitabilitas dan ukuran perusahaan secara parsial berpengaruh positif secara signifikan terhadap struktur modal.  Variabel likuiditas dan pertumbuhan penjualan secara parsial tidak berpengaruh terhadap struktur modal. Sedangkan risiko bisnis berpengaruh negatif secara signifikan terhadap struktur modal.  Tingkat suku bunga justru memperkuat hubungan profitabilitas terhadap struktur modal. Disisi lain, tingkat suku bunga terbukti memperlemah hubungan risiko bisnis terhadap struktur modal.
FAKTOR-FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN PADA PERUSAHAAN YANG TERDAFTAR DI BEI Kevin Muhammad Rizka; Jonnardi Jonnardi
Jurnal Kontemporer Akuntansi Volume 1, No. 2, September 2021
Publisher : Fakultas Ekonomi Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (232.144 KB) | DOI: 10.24912/jka.v1i2.15092

Abstract

Penelitian ini bertujuan untuk membuktikan dan mengkaji secara empiris pengaruh profitabilitas, struktur modal, ukuran perusahaan dan pertumbuhan perusahaan terhadap nilai perusahaan dengan tingkat suku bunga sebagai variabel moderasi pada perusahaan non-bank yang terdaftar di Bursa Efek Indonesia periode 2014 – 2018. Penelitian ini bersifat kuantitatif dengan teknik pengambilan sampel yaitu purposive sampling. Pengolahan data menggunakan Regresi Linear Berganda dan Moderated Regression Analysis (MRA) melalui aplikasi eviews 10. Analisis pengujian hipotesis dilakukan secara parsial dan simultan. Hasil penelitian ini menunjukkan bahwa: (1) Profitabilitas dengan proksi Ln(EBIT) dan ROA, Struktur Modal dengan proksi LTDER berpengaruh secara signifikan dan positif terhadap nilai perusahaan; (2) Ukuran Perusahaan dengan proksi Ln(Total Asset), Pertumbuhan Perusahaan dengan proksi Ln(Net Equity) berpengaruh secara signifikan dan negatif terhadap nilai perusahaan; (3) Struktur Modal dengan proksi LTDFAR, Pertumbuhan Perusahaan dengan proksi Ln(Sales) tidak berpengaruh secara signifikan dan positif terhadap nilai perusahaan; (4) Ukuran Perusahaan dengan proksi Ln(Total Employees) tidak berpengaruh secara signifikan dan negatif terhadap nilai perusahaan; (5) Tingkat suku bunga memperlemah hubungan antara Profitabilitas dengan proksi Ln(EBIT) dan ROA, Struktur Modal dengan proksi LTDER terhahap nilai perusahaan; (6) Tingkat suku bunga memperkuat hubungan antara Struktur Modal dengan proksi LTDFAR terhahap nilai perusahaan.
PENGARUH PROFITABILITAS, LIKUIDITAS, STRUKTUR MODAL, DAN SUKU BUNGA TERHADAP NILAI PERUSAHAAN Novita Sari Dewi Tandiawan; Jonnardi Jonnardi
Jurnal Kontemporer Akuntansi Volume 2, No. 1, Maret 2022
Publisher : Fakultas Ekonomi Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jka.v2i1.18121

Abstract

This study aims to determine the effect of profitability, liquidity, and capital structure on the value of the firm with interest rates as a moderating variable in mining sector companies listed on the Indonesia Stock Exchange. The method of determining the sample was by scanning sampling, the number of samples obtained was 34 companies in the mining sector. The random Effect Model was used for this research using Eviews application version 9.0. Research result indicates that liquidity has a significant positive effect on the firm’s value, while profitability and capital structure has no significant effect on the firm’s value, interest rates as a moderating variable also has no proof in moderating the relationship between capital structure and value of the firm.
Capital Structure Policy: The Moderating Role of Equity Market Timing on Profitability and Growth Opportunity Dessy Adelin; Jonnardi Jonnardi; Sakdiah Binti Md Amin; Primadonna Ratna Mutumanikam
MIX: JURNAL ILMIAH MANAJEMEN Vol. 15 No. 3 (2025): MIX : Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jurnal_mix.2025.v15i3.001

Abstract

Objectives: This research endeavors to investigate how profitability and growth opportunities shape firms’ capital structure decisions, while also elucidating the moderating influence of equity market timing (EMT) within these associations. The inquiry centers on coal mining enterprises—an industry distinguished by capital-intensive operations and pronounced sensitivity to market fluctuations.Methodology: Adopting a quantitative paradigm, this study utilizes panel data drawn from 23 coal mining firms listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period. The sample is determined through purposive selection. Moderated regression analysis serves to assess the interplay between profitability, growth opportunities, and capital structure, with EMT incorporated as a moderating construct. All variables are operationalized through financial ratios and processed using EViews software to ensure analytical rigor.Finding: Empirical evidence discloses a significant inverse nexus between profitability and capital structure, signifying that more profitable entities exhibit a diminished proclivity toward debt financing, favoring internally generated funds instead. Conversely, growth opportunities manifest a positive and significant relationship with leverage, implying that firms with broader expansion prospects are predisposed to augment their indebtedness. Moreover, EMT intensifies these dual tendencies—fortifying the adverse link between profitability and leverage while concurrently amplifying the positive association between growth opportunities and debt usage.Conclusion: Collectively, the findings underscore that capital structure formation is not solely contingent upon internal financial attributes such as profitability and growth potential but is equally sculpted by external capital market conditions. Firms, therefore, appear to recalibrate their financing configurations strategically, navigating between internal performance dynamics and the temporal advantages presented by favorable market valuations.
Interactions of Digitalisation and Sustainable Finance in Shaping Profitability of Indonesian State Banks Jonnardi Jonnardi; Dessy Adelin; Muhammad Azizurrohman
JASF: Journal of Accounting and Strategic Finance Vol. 8 No. 2 (2025): JASF (Journal of Accounting and Strategic Finance) - December 2025
Publisher : Accounting Department, Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jasf.v8i2.671

Abstract

Purpose: This study examines the determinants of financial performance in Indonesian state-owned and regionally owned banks by integrating prudential indicators with developmental, sustainability, and digital transformation variables. It evaluates how digital capability and green lending moderate the effects of credit risk, earning power, and developmental credit on profitability. Method: The analysis uses balanced panel data from six banks over two thousand nineteen to two thousand twenty-three. A fixed effect panel regression model with interaction terms captures both direct determinants and moderating influences. Key predictors include nonperforming loans, net interest margin, developmental credit, and cooperative or village enterprise lending, while moderating variables comprise digital capability and green lending. Findings: Nonperforming loans exert the strongest negative effect on profitability, whereas net interest margin remains the primary driver of return on assets. Developmental credit and lending to local enterprises enhance financial performance. Green lending and environmental, social, and governance performance are positively associated with profitability. Digital capability weakens the adverse influence of credit risk and strengthens the gains from earning power. Green lending amplifies the positive effect of developmental credit. Implications: Profitability in state-aligned banks reflects the combined influence of prudential fundamentals, developmental mandates, sustainable finance initiatives, and digital transformation. Strengthening credit risk management, improving developmental programme mechanisms, expanding green finance, and deepening digital capability are essential for enhancing performance and informing regulatory incentive design. Novelty/Value: This study offers integrated empirical evidence on prudential, developmental, sustainability, and digital determinants of profitability in Indonesian state banking. It demonstrates that digital capability and green lending not only improve financial outcomes but also reinforce the effectiveness of developmental credit, thereby advancing research on development-oriented and sustainable finance models.
DNA Brand sebagai Strategi Branding dan Digitalisasi UMKM Fashion Turah Slamet; Dessy Adelin; Primadonna Ratna Mutumanikam; Nani Sunarni; Jonnardi Jonnardi
Jurnal Pengabdian kepada Masyarakat Nusantara Vol. 7 No. 2 (2026): Edisi Mei - Agustus
Publisher : Lembaga Dongan Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55338/jpkmn.v7i2.8683

Abstract

Pemberdayaan UMKM fashion di Jakarta menghadapi kendala utama berupa rendahnya kemampuan pelaku usaha dalam membangun identitas merek, mengoptimalkan strategi digital, dan mengembangkan inovasi produk berbasis kebutuhan pasar. Kondisi ini berdampak pada lemahnya daya saing di tengah transformasi digital industri kreatif. Kegiatan ini bertujuan meningkatkan kapasitas strategis UMKM melalui implementasi model DNA Brand yang mengintegrasikan pengembangan identitas merek, strategi digital, dan inovasi produk. Mitra kegiatan adalah 38 pelaku UMKM anggota Indonesian Fashion Chamber Jakarta. Metode yang digunakan adalah pendekatan participatory action yang meliputi tahap analisis kebutuhan, pelatihan interaktif, simulasi penyusunan identitas merek dan strategi konten digital, serta evaluasi berbasis pre-test dan post-test. Hasil menunjukkan adanya peningkatan pemahaman peserta pada aspek branding sebesar 37,4%, digital sebesar 41,2%, inovasi produk sebesar 34,8%, positioning sebesar 48,1%, dan strategi konten sebesar 52,6%. Selain itu, peserta mampu menyusun konsep identitas merek dan rencana konten digital secara mandiri. Temuan ini menunjukkan bahwa model DNA Brand efektif sebagai pendekatan integratif dalam meningkatkan kompetensi strategis UMKM fashion. Program ini memberikan kontribusi berupa model intervensi praktis yang dapat direplikasi untuk memperkuat daya saing dan keberlanjutan UMKM sektor kreatif.
Co-Authors Azizurrohman, Muhammad Dessy Adelin Dessy Adelin Dewandaru Agung Pramita Eriga Chintya Dewi Henny Henny Kevin Muhammad Rizka Miharni Tjokrosaputro Nani Sunarni Novita Sari Dewi Tandiawan Primadonna Ratna Mutumanikam Rita Njo Rorlen Rorlen Sakdiah Binti Md Amin Turah Slamet