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Implikasi Kesulitan Keuangan dan Variabel Makroekonomi terhadap Return Saham dengan Variabel Moderasi Arus Kas Operasi Ikhlasillah, Muhammad; Wiratno, Adi; Rachbini, Widarto
EKOBISMAN : JURNAL EKONOMI BISNIS MANAJEMEN Vol. 3 No. 2 (2018): DESEMBER
Publisher : SEKOLAH PASCASARJANA PRESS

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to examine the implications of the financial distress, interest rate and exchange rate to stock returns on textile and garment companies in Indonesia, which listed on the Indonesia Stock Exchange for the period 2012-2015. The operating cash flow is used as a moderating variable to examine the correlation between financial distress and stock returns. There are 15 companies that are used as samples for the study were selected based on purposive sampling method. Meanwhile, fixed effect model of the data panel linear regression method selected for data analysis. The quantitative data was taken from ICMD and Capital Market Reference Center Indonesia Stock Exchange. By using significance level of 5%, study results showed financial distress as Altman Z-score influence positively but insignificant on stock returns and depreciation of exchange rate influence positively and significant on stock returns. Meanwhile, increasing interest rate impact on stock returns negatively but not significant. The study also summarize that operating cash flow cannot moderate the correlation between financial distress and stock returns and this variable classified as predictor moderator. The study results also showed financial distress, interest rates and exchange rates had significant impact on stock returns simultaneously.
Analisis Kinerja Keuangan Koperasi dari Aspek Likuiditas, Solvabilitas dan Profitabilitas: Studi Kasus Koperasi Cahaya Medika Cilacap Karunia, Dian; Hatmoko, Haryo Wahyu; Wiratno, Adi
Jurnal Akuntansi, Manajemen dan Perbankan Syariah Vol 4 No 5 (2024): Oktober 2024
Publisher : UP2MF Fakultas Ekonomi dan Bisnis, Universitas Sains Al-Qur'an (UNSIQ) Jawa Tengah di Wonosobo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32699/jamasy.v4i5.8431

Abstract

Penelitian ini bertujuan untuk menganalisis kinerja keuangan Koperasi Cahaya Medika Cilacap tahun 2022 sampai 2023. Penelitian ini menggunakan metode penelitian deskriptif dengan pendekatan kuantitaif menggunakan data sekunder berupa dokumentasi laporan keuangan. Teknik analisisi data dalam penelitian ini adalah analisis rasio berdasarkan kinerja keuangan yang melipukti rasio likuiditas (current ratio dan cash ratio), rasio solvabilitas (total asset to debt ratio) dan rasio profitabilitas (return on asset dan return on equity). Hasil penelitian ini menunjukkan kinerja keuangan pada Koperasi Cahaya Medika Cilacap tahun 2022 sampai 2023 berdasarkan rasio likuiditas dan solvabilitas menunjukkan kondisi kinerja keuangan yang tidak sehat. Sedangkan kinerja keuangan Koperasi Cahaya Medika Cilacap tahun 2022 sampai 2023 jika ditinjau dari rasio profitabilitas berdasarkan ROA berada pada kategori sehat. Penelitian ini menganalisis kinerja salah satu koperasi yang berada di jawa tengah.
EVALUASI KINERJA KEUANGAN KOPERASI DARI ASPEK EFEKTIVITAS BERDASARKAN PEDOMAN PEMERINTAH STUDI KASUS KSU PERWIRA PURBALINGGA Aprilia, Dwiani Nursasi; Arruum, Cintia; Nuristiyanti, Nia; Wiratno, Adi
Jurnal Riset Akuntansi Soedirman Vol 2 No 2 (2023): JURNAL RISET AKUNTANSI SOEDIRMAN (JRAS)
Publisher : Jurusan Akuntansi Fakultas Ekonomi dan Bisnis, Universitas Jenderal Soedirman, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jras.2023.2.2.9085

Abstract

This study aims to determine the Financial Performance of PERWIRA Purbalingga's Multi-Business Cooperative (KSU) from a productivity aspect according to Government guidelines in the Regulation of the Minister of Cooperatives and Small and Medium Enterprises of the Republic of Indonesia Number 06/Per/M.KUKM/V/2006. Data collection was carried out through interviews with cooperative management. collect data such as balance sheets, income statements, the history of the establishment of the cooperative, organizational structure, and the articles of association and bylaws of the cooperative. in terms of the development of profitability, Return on Assets, Asset Turn Over (ATO), Net Profit Margin, and total debt to own capital at KSU "PERWIRA" from 2016 to 2022 KSU Perwira is in the very good category. In contrast to the evaluation results on total liabilities to assets which show unfavorable developments.
PENGARUH KINERJA LINGKUNGAN, CARBON EMISSION DISCLOSURE, DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN Fitriana, Desi Amanatul; Wiratno, Adi; Pratiwi, Umi; Ulfah, Permata
Jurnal Riset Akuntansi Soedirman Vol 3 No 1 (2024): JURNAL RISET AKUNTANSI SOEDIRMAN (JRAS)
Publisher : Jurusan Akuntansi Fakultas Ekonomi dan Bisnis, Universitas Jenderal Soedirman, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jras.2024.3.1.12790

Abstract

This study aims to examine the effect of environmental performance, carbon emission disclosure, and financial performance on firm value. The population used in this study are companies in the energy, industrial process and product use (IPPU), agriculture, building, transportation, waste management, and forestry sectors listed on the Indonesia Stock Exchange (IDX) during the 2020-2022 period. The sample of this study was selected using purposive sampling method, namely with 3 predetermined criteria, among others: listed on the SRI-KEHATI Index, participating in KLHK PROPER activities, and mentioning one of the carbon disclosure information in the annual report and sustainability report. The analysis method used in this study is multiple regression analysis techniques using the IBM SPSS 23 program. The multiple linear regression model in this study has an Adjusted R2 value of 24%, which means that the company's value can be explained using environmental performance variables, carbon emission disclosure, and financial performance where the remaining 76% is influenced by other factors. The results of this study indicate that environmental performance has a negative effect on firm value, carbon emission disclosure has a positive effect on firm value, and financial performance has a positive effect on firm value.
Optimasi Penggunaan Agregat Kasar Gabungan Pada Campuran Beton Dengan Tambahan Superplasticizer Layang, Samuel; Wiratno, Wiratno; Perkasa, Petrisly; Hartako, Henra; Rido, Rido
Teras Jurnal : Jurnal Teknik Sipil Vol. 13 No. 1 (2023): Volume 13 No 1, Maret 2023
Publisher : UNIVERSITAS MALIKUSSALEH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29103/tj.v13i1.843

Abstract

Abstrak Penelitian ini bertujuan untuk mendapatkan komposisi agregat kasar gabungan Batu Banjarmasin dan Batu Merak dengan tambahan superplasticizer yang memberikan kuat tekan optimum. Untuk mencapai tujuan tersebut dilakukan penelitian di laboratorium menggunakan benda uji silinder dengan diameter 150 mm dan tinggi 300 mm. Terdapat 2 jenis campuran yaitu campuran beton tanpa superplasticizer dan campuran beton dengan tambahan superplasticizer. Masing-masing campuran tersebut terdiri dari 4 variasi campuran. Berdasarkan hasil pengujian beton tanpa superplasticizer kuat tekan optimum dicapai pada campuran dengan prosentase 50% Batu Banjarmasin-50% Batu Merak sebesar 27,10 MPa. Kuat tekan beton dengan proporsi campuran 60% Batu Banjarmasin-40% Batu Merak, 70% Batu Banjarmasin-30% Batu Merak, 80% Batu Banjarmasin-20% Batu Merak berturut-turut 24,61 MPa; 22,09 MPa dan 19,29 MPa. Kuat tekan optimum beton dengan tambahan superplasticizer dicapai pada campuran dengan prosentase 50% Batu Banjarmasin-50% Batu Merak sebesar 37,18 MPa. Kuat tekan beton dengan proporsi campuran 60% Batu Banjarmasin-40% Batu Merak, 70% Batu Banjarmasin-30% Batu Merak, 80% Batu Banjarmasin-20% Batu Merak berturut-turut 31,51 MPa; 24,25 MPa dan 25,34 MPa. Campuran beton dengan tambahan superplasticizer memberikan hasil kuat tekan yang lebih besar dibanding campuran beton tanpa superplasticizer. Kata kunci: Sifat fisik agregat, agregat kasar, kuat tekan, superplasticizer  Abstract This study aims to obtain the composition of the combined coarse aggregate of Banjarmasin Stone and Merak Stone with the addition of superplasticizer which provides optimum compressive strength. To achieve this goal, research was carried out in the laboratory using cylindrical specimens with a diameter of 150 mm and a height of 300 mm. There are 2 types of mixtures, namely concrete mixtures without superplasticizers and concrete mixtures with the addition of superplasticizers. Each of these mixtures consists of 4 variations of the mixture. Based on the test results of concrete without superplasticizer, the optimum compressive strength was achieved in a mixture with a percentage of 50% Banjarmasin Stone-50% Merak Stone of 27.10 MPa. The compressive strength of concrete with a mixture proportion of 60% Banjarmasin Stone-40% Merak Stone, 70% Banjarmasin Stone-30% Merak Stone, 80% Banjarmasin Stone-20% Merak Stone respectively 24.61 MPa; 22.09 MPa and 19.29 MPa. The optimum compressive strength of concrete with the addition of superplasticizer was achieved in a mixture with a percentage of 50% Banjarmasin Stone-50% Merak Stone of 37.18 MPa. The compressive strength of concrete with a mixture proportion of 60% Banjarmasin Stone-40% Merak Stone, 70% Banjarmasin Stone-30% Merak Stone, 80% Banjarmasin Stone-20% Merak Stone respectively 31.51 MPa; 24.25 MPa and 25.34 MPa. Concrete mixes with the addition of superplasticizers give greater compressive strength results than concrete mixes without superplasticizers. Keywords: aggregate physical properties, coarse aggregate, compressive strenght, superplasticizer
Pemanfaatan Limbah Pasir Sandblasting Sebagai Material Perkerasan Kaku Layang, Samuel; Thathit Suprayogi; Wiratno; Okta Meilawaty; Renna Jessica Sihombing; Frans Putra Ganesa
AGREGAT Vol 10 No 2 (2025)
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/ag.v10i2.27798

Abstract

This study aims to determine the compressive strength and flexural strength of concrete using Sandblasting Sand waste and to determine whether concrete using Sandblasting Sand waste can be used as a rigid pavement material. To achieve these objectives, experimental research was carried out in the laboratory using 10 beam specimens. The coarse aggregate used was a combination of Banjarmasin Gravel and Merak Gravel with a proportion of 50% each. There are two variations of the mixture, namely a concrete mixture using Tangkiling Sand and a concrete mixture using Sandblasting Sand. From the test results, it was obtained that the concrete mixture using Tangkiling Sand had an average compressive strength of 22.57 MPa and a flexural strength (fs) of 36.33 kg/cm2. The concrete mixture using Sandblasting Sand has an average compressive strength of 26.55 MPa and flexural strength (fs) of 39.40 kg/cm2. Concrete mixtures with proportions of 50% Banjarmasin Gravel and 50% Merak Gravel, both using Tangkiling Sand and Sandblasting Sand do not meet the requirements for use as rigid pavement because they do not meet the minimum flexural strength of 45 kg/cm2 as required.
Implementasi Good Corporate Governance pada Koperasi Sumber Agung Kebumen Wiratno, Adi; Lailiyah, Makhrurotul; Muharom, Eko Agus
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 4 (2026): November - January
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i4.4200

Abstract

Good Corporate Governance (GCG) atau tata kelola perusahaan yang baik adalah pedoman yang efektif digunakan oleh koperasi untuk meningkatkan daya saing dan menciptakan pedoman bagi pengelola koperasi dengan mengelola manajemennya yang baik dengan memperhatikan kepentingan stakeholders. Penerapan good GCG pada koperasi dapat meningkatkan kinerja serta nilai koperasi  dengan memperhatikan prinsip-prinsip good corporate governance antara lain transparancy (keterbukaan), accountability (akuntabilitas), responsibility (responsibilitas), independency (kemandirian), dan fairness (kewajaran dan kesetaraan), dibutuhkan untuk tercapai kesinambungan usaha perusahaan. Penelitian dilakukan di Koperasi Sumber Agung Kebumen, dengan metode penelitian kualitatif. Fenomena masalahnya adalah menurunnya jumlah anggota koperasi akibat banyak anggota yang memilih untuk keluar dari keanggotaan koperasi. Hasil penelitian menunjukkan bahwa penerapan prinsip GCG belum berjalan secara optimal. Aspek transparansi belum terpenuhi, responsibilitas belum memenuhi harapan anggota. Prinsip independensi terhambat oleh dominasi anggota ASN lama dan tidak adanya regenerasi anggota baru.. Faktor pendukung implementasi GCG meliputi kekuatan aset koperasi dan adanya upaya diversifikasi usaha, sementara faktor penghambat mencakup penurunan jumlah anggota, lemahnya partisipasi, kredit bermasalah, dan ketidakmampuan koperasi beradaptasi dengan kebutuhan generasi muda. Secara keseluruhan, lemahnya implementasi GCG berdampak pada menurunnya kinerja operasional, melemahnya loyalitas anggota, dan terancamnya keberlanjutan koperasi. Penelitian ini menegaskan perlunya penguatan tata kelola, inovasi layanan, dan strategi regenerasi anggota sebagai langkah utama revitalisasi koperasi.
Improving English Vocabulary Using Gamification of Bamboozle Platform for SMPN 2 Nglegok Grade 8 Nurlia, Ratna; Wiratno; Mulhuda, M. Ali
Journal of Development Research Vol. 9 No. 2 (2025): Volume 9, Number 2, November 2025
Publisher : Lembaga Penelitian dan Pengabdian Masyarakat Universitas Nahdlatul Ulama Blitar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28926/jdr.v9i2.479

Abstract

This research aims to enhance students' vocabulary mastery through gamification on Baamboozle, as traditional teaching methods often fall short in holding students’ attention. The research employs a Classroom Action Research (CAR) methodology, conducted in two cycles, involving planning, action, observation, and reflection stages. It involved 29 eighth-graders at SMPN 2 Nglegok. Pre-tests and post-tests were given to track their vocabulary progress, and also observed their engagement and participation in class. Results indicated a significant improvement in vocabulary mastery, with the percentage of students achieving the Minimum Mastery Criteria (KKM) rising from 17.24% in the pre-test, to 48,28% in the post test of cycle 1, and  to 82.76% in the post-test II. The findings suggest that gamification, through interactive and competitive elements of the Baamboozle platform, effectively increases student motivation and engagement in learning English vocabulary. This study contributes valuable insights into the integration of technology and innovative teaching methods in language education, highlighting the importance of gamification in fostering a more dynamic and enjoyable learning environment to improve vocabularies.
Implementasi Prinsip Good Governance dalam Manajemen Koperasi Syariah Santi, Hani Rafika; Sulistyo, Adib; Wiratno, Adi
Jurnal Riset Akuntansi Soedirman Vol 4 No 2 (2025): JURNAL RISET AKUNTANSI SOEDIRMAN
Publisher : Jurusan Akuntansi Fakultas Ekonomi dan Bisnis, Universitas Jenderal Soedirman, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jras.2025.4.2.18638

Abstract

This study analyzes the implementation of good governance principles comprising transparency, accountability, responsibility, independence, and fairness in the management of KSPPS BMT FEB Universitas Muhammadiyah Purwokerto using a qualitative descriptive approach. Data were collected through in-depth interviews with key informants, non-participant observation, and comprehensive document analysis. The findings show that BMT FEB UMP implements all five good governance principles in its operational practice, though with varying intensity and maturity levels. Responsibility, particularly in the dimension of sharia compliance, shows the strongest and most consistent implementation, followed by transparency and accountability. The presence of an active and competent Sharia Supervisory Board strengthens good governance implementation across all dimensions, providing deeper spiritual and ethical value to organizational governance. Sharia governance functions not merely as an additional control mechanism, but is integral and mutually reinforcing with good governance in creating a coherent and meaningful governance ecosystem. Despite challenges such as regulatory conflicts between conventional cooperative law and sharia principles, human resource limitations, and fluctuating student membership, strong institutional support from the academic community and organizational commitment to sharia principles enable BMT to continuously develop and innovate with product diversification and improved service quality.
Pengaruh Pengungkapan Emisi Karbon, Dewan Komisaris Independen, dan Modal Intelektual terhadap Kinerja Keuangan Ristanti, Roro Ajeng; Wiratno, Adi; Amperaningrum, Izzati
Jurnal Riset Akuntansi Soedirman Vol 4 No 2 (2025): JURNAL RISET AKUNTANSI SOEDIRMAN
Publisher : Jurusan Akuntansi Fakultas Ekonomi dan Bisnis, Universitas Jenderal Soedirman, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jras.2025.4.2.19478

Abstract

This study, entitled "The Effect of Carbon Emission Disclosure, an Independent Board of Commissioners, and Intellectual Capital on Financial Performance," aims to examine and analyze the influence of carbon emission disclosure, an independent board of commissioners, and intellectual capital on financial performance. Signaling and agency theory serve as the foundation for this research. A causal quantitative approach using secondary data from financial reports and sustainability reports was employed. The population of this study was energy sector companies listed on the Indonesia Stock Exchange (IDX) for the 2021-2024 period. A purposive sampling technique was used to select the sample, resulting in 31 companies. The data analysis techniques employed included descriptive statistical analysis, panel data regression models, panel data regression model selection tests, classical assumption tests, panel data regression analysis, model feasibility tests, and hypothesis testing. This study found that: (1) carbon emission disclosure has no effect on financial performance; (2) an independent board of commissioners has no effect on financial performance; and (3) intellectual capital has an effect on financial performance. The implications of this research are that companies are expected to consistently disclose and improve the quality of their carbon emissions disclosures. Companies should ensure that independent boards of commissioners effectively monitor and manage their operations, and they are advised to improve their intellectual capital management. Before investing, investors are advised to consider factors such as carbon emissions disclosure, the presence of an independent board of commissioners, and the company's intellectual capital.
Co-Authors , Alen Setiawan -, Irianing Suparlinah ., Carmidah ., Carmidah Abdul Azis Adhelia Desi Prawestri Alamsyah, Richard Andrea Maraya Salsabila Aprilia, Dwiani Nursasi Ardiansah, Mochamad Ardien Arief, Imam Raditia Zabbar Ariyadi, Firal Arruum, Cintia Atiek Sri Purwati Bimo Aryo Alvi Syahrin Bosin Prabowo Bryan Akmal Cassiophea, Lola DARMANSYAH . Debora Dendy Yuli Setiawan desy wulandari Dinda Keumala Dr, Darmansyah Erna Ridawati, Erna Evani, Elsa Saphira Farhan Aryatama Farida Mukhlisah Fatih, Faiz Al Fitriana, Desi Amanatul Fitriyah, Rizky Frans Putra Ganesa Gautama, Danar Ariangga Windra Grace Garatama M Hartako, Henra Hatmoko, Haryo Wahyu Hefiana, Fera Henra Hartako Hikmawati, Ningsih Huda, M. Alimul I Gede Yudi Arsawan I Wayan Laba Ignatius Pradipa Probondaru Ikhlasillah, Muhammad Indra Yudha Pratama Izzati Amperaningrum, Izzati Januar Mampe Maradona Panjaitan jeki JMV, Mulyadi Karelius, Karelius Karunia, Dian Kasih, Veilla Anggoro Khaerunnisa, Indar Khoiriah Khoiriah, Khoiriah Kurniasari, Wulan Kusuma Wiguna, Muhamad Wisnu Laeli Budiarti Lailiyah, Makhrurotul Lazuardi K, Prasetia Lola Cassiophea Mahardhika, Made Bellisky Mazya, Khairunnisa MIRANTHI, NAMIRA PUTRI Molide Rizal, Molide Muhammad Akrom Fahmi Muhammad Yusuf Muharom, Eko Agus Mulhuda, M. Ali Murdam NAJMUDDIN, MOHAMMAD ILHAM Negina Kencono Putri Nunung Nurjanah Nurfaizah, Izah Nuristiyanti, Nia Nurlia, Ratna Nurmalitasari, Fahmi Nursasi Aprilia, Dwiani Okta Meilawaty Oktaviana, Amelita Pandiangan, Pantur Pasaribu, Naomi Perkasa, Petrisly Permanasuri, Ni Putu Diah Agustin Permata Ulfah, Permata Purnawan, Eldy Indra Putu Deny Darmawan Qotrunnada, Sausan Syifa Qotrunnada, Sausan Syifa Rafly Tri Adi Ramadhani, Bella Mirtha Ramadhani, Wanda Putri Regina Zetia Renna Jessica Sihombing Revianti Coenraad, Revianti Rido Rido, Rido Rio Pradana, Priananda Sanditya Riska Ovany Ristanti, Roro Ajeng Samuel Layang Santi, Hani Rafika Sanupir Kalaeau Setiawati, Anda Sholihah, Siti Mar'atush Sitinjak, Tarita Aprilani Su'Daa, Saniyya Nabila Sugiarto S Sulistyo, Adib Supeno, Saras Supeno, Saras Suyanto Suyanto Tarjunajah, Tarjunajah Taufiqurrachman Nasihun Thathit Suprayogi Umi Pratiwi, Umi Victory, Haura Ayu Wahyu Ningsih Wiyogo Yusriyati Nur Farida Zaidan, Naufal Ali