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All Journal Shirkah: Journal of Economics and Business Jurnal Mantik Indonesian Journal of Devotion and Empowerment (IJDE) Journal Economic Insights JAS (Jurnal Akuntansi Syariah)
Arum Pujiastuti
Universitas Selamat Sri, Kendal, Indonesia
Computer Science & IT Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Social Sciences

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KECEPATAN PENYESUAIAN STRUKTUR MODAL: STUDI PADA PERUSAHAAN ENERGI DI INDONESIA Arum Pujiastuti
Journal Economic Insights Vol. 1 No. 2 (2022): Journal Economic Insights
Publisher : Fakultas Ekonomika dan Bisnis Universitas Selamat Sri

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (804.286 KB)

Abstract

Penelitian ini berfokus pada perusahaan energi di Indonesia pada periode 2011-2020. Penelitian ini bertujuan untuk menguji adanya penyesuaian struktur modal dan menentukan kecepatan penyesuaiannya. Secara spesifik, penelitian ini menyoroti apakah faktor-faktor seperti ukuran perusahaan, peluang pertumbuhan, dan tingkat profitabilitas mempengaruhi kecepatan penyesuaian struktur modal. Data unbalanced panel yang terdiri dari 46 perusahaan dan 463 sampel diestimasi menggunakan panel dinamis Generalized Method Moment (GMM). Hasil penelitian ini menemukan bahwa terjadi penyesuaian struktur modal pada perusahaan energi di Indonesia sebesar 50,7%. Lebih jauh, kecepatan penyesuaian ini dipengaruhi oleh ukuran perusahaan, peluang pertumbuhan, dan tingkat profitabilitas.
Market Reaction To The Russian Vs Ukrainian War Gilang Kharisma; Arum Pujiastuti; Feri Tristiawan
Jurnal Mantik Vol. 6 No. 2 (2022): August: Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v6i2.2764

Abstract

The purpose of this study is to investigate the impact of the Russian invasion of Ukraine on the Indonesian capital market. The sample employs Index 30 because it represents a group of companies with strong fundamentals and high liquidity. Using the event study research method, t = 0 is determined using the date of Russia's initial invasion of Ukraine, which occurred on February 24, 2022. In addition, this study uses secondary data from Yahoo Finance. Market model approach with an ordinary least square method is used to find abnormal returns in this research. Utilizing statistical testing using SPSS, the results revealed a significant negative reaction at t-3, or three days prior to Russia's invasion of Ukraine. In contrast, there was no significant difference between abnormal returns before and after the occurrence.
Capital Structure Adjustment Speed in Indonesia: Does Sharia Compliance Matter? Arum Pujiastuti; Saefudin Saefudin; Rizki Dini Shandra Yunita; Yuni Astuti
Shirkah: Journal of Economics and Business Vol 7, No 3 (2022)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v7i3.483

Abstract

Leverage Speed of Adjustment (henceforth SOA) has previously been studied by researchers; however, the examination of its connection with sharia law has been overlooked. The majority of the literature currently in circulation comes from the Middle East and North Africa (MENA) region and Malaysian markets, so its implications for businesses in Indonesia may not be applicable given local regulations and cultural norms. This study investigates the distinction in the debt levels and the SOA of firms in Indonesia based on compliance to sharia law. The Two-step Generalized Method of Moment (GMM) model was used to calculate the SOA in the leverage model. We discover that sharia compliance plays a role in stimulating the Indonesian firm’s level of debt and leverage SOA. To put it more precisely, sharia firms use less debt and have a slower SOA than conventional firms. Overall, Indonesian firms implement the dynamic trade-off theory in their leverage framework. Instead of relying on conventional debt, which is only available at certain levels, sharia firms must issue Islamic debt instruments to accelerate the speed of adjustment. Even after a robustness test using various sharia compliance approaches, our results remained consistent.
Kakeibo: A Japanese Family Financial Management to Create An Entrepreneurial Family Arum Pujiastuti; Gilang Kharisma Putra; Shofiatul Mila
Indonesian Journal of Devotion and Empowerment Vol 5 No 1 (2023): June 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/ijde.v5i1.67428

Abstract

The community service activities carried out in fulfilling the Tridharma of Higher Education focused on training in family financial management in Sidorejo Village, Brangsong District, Kendal Regency, with female participants who are members of the PKK. This activity was carried out to improve community welfare through family financial management using the Kakeibo method (household financial record book). Training is carried out through lectures, demonstrations, and budgeting practice. The results of this community service show that participants are very enthusiastic about participating in the training. Furthermore, by carrying out this activity, participants are expected to manage family finances effectively and efficiently in improving their welfare and creating a financially productive family. The limited time in this activity made the material less detailed; hence, it was necessary to carry out further activities to determine the implementation of the participants' training material. Kegiatan pengabdian masyarakat yang dilakukan dalam memenuhi Tridharma Perguruan Tinggi ini berfokus pada pelatihan pengelolaan keuangan keluarga di Desa Sidorejo, Kecamatan Brangsong, Kabupaten Kendal dengan peserta ibu-ibu yang tergabung dalam PKK. Kegiatan ini dilakukan sebagai upaya peningkatan kesejahteraan masyarakat melalui pengelolaan keuangan keluarga dengan metode kakeibo (buku catatan keuangan rumah tangga). Pelatihan dilakukan dengan cara ceramah, demontrasi, dan praktik pembuatan anggaran. Hasil pengabdian ini menunjukkan bahwa peserta sangat antusias mengikuti pelatihan. Lebih lanjut, dengan dilaksanakan kegiatan ini, para ibu diharapkan mampu mengelola keuangan keluarga dengan efektif dan efisien dalam peningkatan kesejahteraan dan mampu menciptakan keluarga yang produktif dalam keuangan. Keterbatasan waktu dalam kegiatan ini membuat kurang tersampainya materi secara detil sehingga perlu adanya kegiatan lanjutan untuk mengetahui penerapan materi pelatihan yang dilakukan oleh peserta.
Struktur Modal dan Leverage Adjustment Selama Krisis: Studi Pada Perusahaan Energi di Indonesia Arum Pujiastuti
Journal Economic Insights Vol. 2 No. 2 (2023): Journal Economic Insights
Publisher : Fakultas Ekonomika dan Bisnis Universitas Selamat Sri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51792/jei.v2i2.73

Abstract

Ketika menghadapi krisis, perusahaan mengalami ketidakpastian yang dapat mempengaruhi perilaku finasial. Oleh karena itu, tujuan dari penelitian ini adalah untuk menganalisis bagaimana perusahaan menyesuaikan struktur modal selama periode krisis. Pendekatan kuantitatif dengan menggunakan uji beda (Mann-Whitney U) dan regresi panel dinamis GMM untuk mengestimasi model. Sampel berasal dari perusahaan energi dari kuartal 1 tahun 2011 sampai dengan kuartal 4 tahun 2021 dengan total 2.186 observasi. Dari hasil analisis mengungkapkan perusahaan cenderung mengurangi utang dalam struktur modalnya selama krisis. Selain itu, kecepatan penyesuaian meningkat selama krisis.
IMPACT OF FINANCIAL PERFORMANCE ON FIRM VALUE IN THE FOOD AND BEVERAGE SECTOR ON THE INDONESIA STOCK EXCHANGE Sulaiman Kurdi; Arum Pujiastuti; Umi Hani
Journal Economic Insights Vol. 2 No. 1 (2023): Journal Economic Insights
Publisher : Fakultas Ekonomika dan Bisnis Universitas Selamat Sri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51792/jei.v2i1.53

Abstract

Investors place a premium on a firm's value when making investments. This study intends to analyze the financial performance of the firm value of the food and beverage sector on the Indonesia Stock Exchange for the period of 2018 to 2021. Profitability, leverage, and liquidity ratios are the financial ratios used to measure financial performance. A total of 24 companies were selected using a method of purposive sampling based on specific criteria. Through the Stata software, a statistical test of data analysis was conducted using linear regression and a static panel approach. The study's findings demonstrate, with a confidence level of 1%, that profitability has a statistically positive impact on the value of a firm. While leverage and liquidity have no influence on a firm.
Accessibility And Competence Toward Zakat Financial Accountability Moderate By Internal Control Aqilla Rahmah; Dwi Astarani Aslindar; Arum Pujiastuti
JAS (Jurnal Akuntansi Syariah) Vol 7 No 2 (2023): JAS (Jurnal Akuntansi Syariah) - December
Publisher : LPPM ISNJ Bengkalis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46367/jas.v7i2.1566

Abstract

This research examines the influence of financial report accessibility and human resource competency on zakat financial accountability with internal control as a moderating variable. This research is quantitative research by processing primary data using a questionnaire. The population of this research is all 268 executive and supervisory agency employees from 35 Lazismu regional offices in Central Java. Sample selection was carried out using a purposive sampling method so that 120 research samples were obtained. The data analysis technique used in this research is the quantitative structural equation modeling-partial least squares (SEM-PLS) analysis method using SmartPLS version 4.0 software. The research results show that the accessibility of financial reports and human resource competency positively affect Zakat's financial accountability. Internal control can strengthen the influence of financial report accessibility on Zakat's financial accountability. However, internal control weakens the influence of human resource competency on Zakat's financial accountability. The results of this research can be used as reference and comparison material for further research. Then, the research results can be used for consideration, input, and thought contribution, especially regarding increasing accountability in zakat financial management.
Co-Authors Aqilla Rahmah Dwi Astarani Aslindar Feri Tristiawan Gilang kharisma Gilang Kharisma Putra Rizki Dini Shandra Yunita Saefudin Shofiatul Mila Sulaiman Kurdi Umi Hani Yuni Astuti