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Determinan Profitabilitas Perusahaan Properti Dan Real Estate Di Indonesia Istiqomah, Razita Izza; Purwidianti, Wida; Widhiandono, Hengky; Yustina Rahmawati, Ika
Value : Jurnal Manajemen dan Akuntansi Vol. 21 No. 1 (2026): Januari - April 2026
Publisher : Program Studi Manajemen, Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jv.v21i1.8272

Abstract

Fluctuations in the profitability of the property and real estate sector in the 2022-2024 period demand more adaptive financial strategies. This study evaluates the role of operational efficiency and funding structure in determining the financial performance of 46 property and real estate companies listed on the Indonesia Stock Exchange. The novelty of this study lies in the examination of capital structure variables, which provides a new perspective on the effectiveness of debt under dynamic interest rate conditions. The findings indicate that accelerated asset turnover (Total Asset Turnover) and large company scale (Size) are the main drivers of increased profitability. Conversely, high reliance on debt (Capital Structure) actually becomes a financial burden that significantly depresses net income. The level of liquidity (Current Ratio) does not guarantee effective profit generation, indicating that excessive cash management without productive investment does not add value. Overall, this model is able to explain 80.8% of the variation in profitability. These results strengthen the relevance of signaling theory and pecking order theory and provide strategic guidance for management to prioritize asset efficiency over increasing debt burdens to maintain business sustainability.
Impact of Board Diversity and Institutional Ownership on Performance and Risk of LQ45 Firms Febiani, Syarila Asri; Tubastuvi, Naelati; Purwidianti, Wida; Utami, Restu Frida
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 16, No 1 (2026): Maksimum: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.16.1.2026.034-048

Abstract

This study examines the influence of board diversity (gender, nationality, and age) and institutional ownership on company performance and risk among companies listed on the LQ45 index from 2020 to 2023. This study employs a quantitative approach, utilising secondary data collected from company annual reports. The sample comprises 25 companies and 100 observations spanning 4 years. The analysis was conducted using multiple linear regression in StataMP 17 to determine the influence of independent variables on company performance, measured by Return on Assets (ROA), and on company risk, calculated using the Debt-to-Equity Ratio (DER). The results indicate that board diversity has a significant positive effect on ROA, while gender and age diversity do not show a substantial impact on company performance. On the other hand, institutional ownership has a significant adverse effect on ROA, indicating that higher institutional ownership tends to reduce a company's performance. All independent variables also had no significant impact on company risk (DER). These findings suggest that, although board diversity and institutional ownership can theoretically enhance oversight and decision-making, their practical implications remain limited due to the low proportion of female, foreign, and young directors, as well as the lack of active institutional involvement. This study contributes to the corporate governance literature in the Indonesian capital market and suggests that future research should include mediation or moderation variables to gain a more comprehensive understanding.
Financial Inclusion as a Mediator of Financial Literacy, Technology Adoption, and Government Policy on MSME Performance Nur Hamam, Zaki; Purwidianti, Wida; Tubastuvi, Naelati; Yustina Rahmawati, Ika
Airlangga Journal of Innovation Management Vol. 7 No. 1 (2026): Airlangga Journal of Innovation Management
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/ajim.v7i1.82959

Abstract

This study focuses on analyzing the effects of financial literacy, technology adoption, and government policies in influencing Micro, Small, and Medium Enterprises (MSMEs) in Banyumas, with financial inclusion acting as a mediator. This study utilizes a quantitative method through a convenience sampling approach, gathering data from a sample of 200 MSME stakeholders. Data has been processed using Structural Equation Modelling-Pooled Least Squares (SEM-PLS) via SmartPLS Software Version 3.0. The results show a significant positive effect of financial literacy, technology adoption, and government policies on financial inclusion. Financial literacy and technology adoption have a direct positive effect; in contrast, government policies have an insignificant direct effect, although a positive influence, on MSME performance. Financial inclusion has a surprisingly negative effect on MSME performance. However, financial inclusion still has a role as a mediator in MSMEs relating to performance among all financial literacy, technology adoption, and government policies. The observations from this paper provide an implication that financial inclusion plays a crucial role in determining business performance results. In practice, this paper supports promoting adaptive financial literacy, growth in technology adoption in financial services, and the development of policies tailored in accordance with local MSMEs. This study also enriches the literature by confirming the variation in the direction and strength of the relationship between variables in the context of developing countries, especially in non-metropolitan areas.
Pengaruh Program Gratis Ongkos Kirim, Live Streaming, dan Online Customer Review Terhadap Keputusan Pembelian pada Platform E- Commerce Tiktok Shop Suwaji, Florida Mandiriani; Haryanto, Totok; Purwidianti, Wida; Arini Hidayah
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 7 No. 5 (2025): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah 
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v7i5.5918

Abstract

This research aims to analyze the influence of the free shipping program (X1), live streaming (X2), and online customer reviews (X3) on purchasing decisions (Y) on the TikTok Shop e-commerce platform. The method used was quantitative by distributing questionnaires filled in by 110 respondents in the Purwokerto area, but only 103 respondents met the criteria. The results of the analysis show that the three variables The validity and reliability test states that the questionnaire instrument used has a good level of validity and reliability. The coefficient of determination test shows that the three X variables are able to contribute 43.1% to variable Y in the TikTok Shop. The research results are consistent with the theory which states that the free shipping program variables (X1), live streaming (X2), and online customer reviews (X3) are important factors that influence the purchasing decision variable (Y).
Co-Authors Aditya, Yogga Aeni, Nurul Nur Ainun Nizmah, Kemala Akbar, Mochammad Akhmad Darmawan Akhmad Darmawan Alfalisyado Alfalisyado Alfalisyado Alfalisyado Alfalisyado Alfalisyado Alfalisyado, Alfalisyado Alfato Yusnar Kharismasyah Amira, Putri Nur Ani Kusbandiyah Anindita, Kurniasih Setya Annisa Ilma Hartikasari Arini Hidayah Arini Hidayah, Arini Aryoko, Yudhistira Pradhipta Asy-Syifa, Muhammad Rasyid Awalia, Melani Azaria, Muhammad Javier Fausta Azzahara, Cantik Tiara Maharani Bagis, Fatmah Bima Cinintya Pratama Budi Santoso, Suryo Cahyaningsih, Irshania Ayu Damayanti, Dika Dania Febriana Dian Papulasih Dwi Vina Rahmawati Eko Hariyanto Elora Fitri Solihfahmi, Tsabitah Ernawati, Yuniar Erny Rachmawati Fahitaratih, Syafira Maistin Farid Muhammad Rofifudin Fatmah Bagis Fauzan Putra, Evan Febiani, Syarila Asri Febriana Hidayanti Febriansyah, Wivan Febrianti, Fika Febrilianty, Arfannisa Firlian Fikri Egyansyah Fitir Riasi, Fatikhah Fitriati, Azmi Frida Utami, Restu Handayani, Erna Haq, Irdhiana Ilma Haryanto, Totok Hengky Widhiandono, M.Si. S.E. Hermin Endratno Herni Justiana Astuti Ika Yustina Rahmawati Ika Yustina Rahmawati Ines Putri Adna Zein Istiqomah, Razita Izza Iwan Fakhruddin Kharismasyah, Alfato Yusnar Kusuma Dewi, Yonanda Roro Kuswara, Arif Rahman Lahan Adi Purwanto Lahan Adi Purwanto Lestiana, Eli Luthfi Zamakhsyari Maharani, Annisa Dwi Maulida Nurul Innayah Maulidina, Azizah Ma’ruf, Anwar Ma’ruf, Nasir Melliana, Sinta Bella Miftahuddin, Muchammad Agung Miftahudin, Muchamad Agung Mody Nurhidayati Mudjiyanti, Rina Muhammad Faqih Rachman, Faqih Muhammad Rasyid Asy-Syifa Mujirahayu, Tri Septin Mukromiin, Ramadhan Khoerul Naelati Tubastuvi Naelati Tubastuvi Nugroho, Bambang Haryo Nur Ainun, Rania Nur Hamam, Zaki Nurjannah, Afifah Zahroh Pamungkas, Ibnu Pandabandjal, Asmarani Petra, Dany Nofrizal Pragita, Amellia Pramesti, Shasa Pratamasari, Mega Aprillia Pujiati Utami Puput Purwanti Purnadi Purnadi Purnadi, Purnadi Purwita, Eka Yuli Rahmawati, Ika Yustina Randikaparsa, Irawan Refaldy Barry Saputra Restu Frida Utami Retno Dwiyanti Rimellaika, Ardya Riri Ariyanti Rolani, Mita Santhy Hawanti Sekar Laras Ati Selamat Eko Budi Santoso Setiyaningrum, Anggun Shelia Anjarani Silvia, Nadya Agnes Sinta Bella Melliana Sinta Dwi Febriyanti Slamet Budi Santoso Sofwatunnisa, Novi Sri Wahyuni Sri Wahyuni Sri Wahyuni Sri Wahyuni Sungkar, Hani Lutpiah Suryo Budi Santoso Susi Wardhani Suwaji, Florida Mandiriani Suwartono Suwartono Suyoto Suyoto Syahreiza, Muhammad Syifaramadan, Choiruddin Tri Na'imah Tri Septin Muji Rahayu Tri Septin Muji Rahayu, Tri Septin Tri Septin Mujirahayu Trisyanti, Cindy Salawatan Tubagus Zuhdan Azis Tuti Juniarsih Wahid, Dimas Lanang Rizky Watemin, Watemin Wiasih, Dina Retno Widhidanono, Hengky Widyaningtyas, Dian Wulan Ndatika, Utyea Wulandari, Nur Apni Yudi Firmansyah, Difandika Yusnar Kharismasyah, Alfato Yusnar, Alfato Yustina Rahmawati, Ika Zaen, Mudrikah Zaharani, Lisa Cahya Zakaria, Yoga Zain Zamakhsyari, Luthfi Zein, Ines Putri Adna