Claim Missing Document
Check
Articles

Found 2 Documents
Search
Journal : META - JOURNAL

Fluctuations on Cash Flow Statements of Public Companies in Indonesia. Astuty, Pudji; Priadana, Sidik; Estiningsih, Wening; Yuniarso, Yudi Budi
Maksimal Jurnal : Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Vol 3 No 2 (2025): December
Publisher : Abadi Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59971/meta-journal.v3i2.381

Abstract

This study aims to examine the effect of macroeconomic fluctuations on the cash flow statements of publicly listed companies in Indonesia. Using a panel data approach covering five public companies (AALI, UNVR, TLKM, ASII, and ICBP) over the period 2019–2023, the analysis employs the Common Effect Model (CEM). The independent variables include Gross Domestic Product (GDP), inflation rate, interest rate, and exchange rate, while the dependent variable is operating cash flow (CFO). Prior to estimation, classical assumption tests for multicollinearity and heteroskedasticity were conducted, confirming the validity and reliability of the model. The results indicate that GDP has a positive and significant impact on CFO, whereas inflation, interest rate, and exchange rate exert negative and significant effects. These findings suggest that macroeconomic conditions directly influence corporate liquidity and cash management. Companies need to implement proactive cash management strategies and hedging policies to mitigate risks associated with macroeconomic volatility. Furthermore, regulators should maintain economic stability to support corporate financial resilience. This study contributes to the empirical understanding of how macroeconomic variables affect corporate cash flows in emerging markets, particularly in Indonesia.
The Relationship between Income Inequality and Poverty in Indonesia: A Sustainable Macroeconomic Analysis (Empirical Study of Java Island 2018–2022) Astuty, Pudji; Priadana, Sidik; Saripah, Saripah; Bakti, Ilham Teruna
Maksimal Jurnal : Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Vol 3 No 2 (2025): December
Publisher : Abadi Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59971/meta-journal.v3i2.382

Abstract

This study aims to analyze the influence of income inequality, economic growth, and government expenditure on poverty levels in five provinces across Java Island during the period 2018–2022. A quantitative research approach with a panel data analysis method was employed, using the Fixed Effect Model (FEM) estimated through EViews 12 software. The study utilized secondary data obtained from the Central Bureau of Statistics (BPS) and the Ministry of Finance of the Republic of Indonesia. The results reveal that, partially, income inequality has a negative and significant effect on poverty, indicating that reducing inequality contributes to poverty alleviation. Conversely, economic growth shows a positive and significant relationship with poverty, suggesting that economic growth in Java has not been inclusive (non-pro-poor growth). Meanwhile, government expenditure has a negative and significant impact on poverty, demonstrating that increasing public spending—especially in social and infrastructure sectors—effectively reduces poverty when allocated efficiently. Simultaneously, all independent variables significantly affect poverty, with a Prob(F-statistic) of 0.000004 < 0.05. The coefficient of determination (R²) of 0.7419 indicates that 74.19% of poverty variation is explained by the model. The findings emphasize the importance of inclusive and equitable economic policies to support the achievement of the Sustainable Development Goals (SDGs), particularly Goal 1 (No Poverty) and Goal 10 (Reduced Inequalities).