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Analisis Rasio Keuangan untuk Menilai Kinerja Keuangan pada Perusahaan Tembakau Tbk di Bursa Efek Indonesia Tahun 2019–2023 Barto Sikona; Johannes Baptista Halik; Claudio Julio Mongan
Jurnal Sains dan Ilmu Terapan Vol. 8 No. 1 (2025): Jurnal Sains dan Ilmu Terapan
Publisher : Politeknik Kampar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59061/jsit.v8i1.956

Abstract

This study analyzes the financial performance of tobacco companies listed on the Indonesia Stock Exchange for the 2019-2023 period using financial ratio analysis. The ratios used include liquidity, solvency, activity, and profitability. The results showed that the liquidity ratio decreased, with the Current Ratio falling to 63.94% in 2023, indicating potential difficulties in meeting short-term obligations. In contrast, the solvency ratio improved, marked by a decrease in the Debt to Equity Ratio (DER) from 80.50% in 2020 to 40.82% in 2023, indicating lower dependence on debt. Activity ratios also showed improved efficiency, with total asset turnover rising to 54% in 2023. In terms of profitability, Return on Assets (ROA) increased to 4.81% and Net Profit Margin (NPM) reached 8.87%, indicating better financial management. Overall, the company experienced fluctuations in financial performance, with challenges on liquidity but improvements on solvency, activity, and profitability. These findings can be taken into consideration for investors and management in financial decision-making.
Investor Risk Behavior Moderation in Financial Literacy on Millennial Investment Decisions Claudio Julio Mongan; Johannes Baptista Halik; Kristian Hoegh Pride Lambe; Irdawati
Jurnal Nusantara Aplikasi Manajemen Bisnis Vol 10 No 2 (2025): Jurnal Nusantara Aplikasi Manajemen Bisnis
Publisher : UNIVERSITAS NUSANTARA PGRI KEDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29407/nusamba.v10i2.24968

Abstract

Research aim : This study examines the moderating role of investor risk behavior in the relationship between financial literacy and investment decisions among millennials. Design/Methode/Approach : A quantitative approach was employed, collecting data from 96 millennial investors through a structured survey. Structural Equation Modeling-Partial Least Squares (SEM-PLS) was utilized to analyze both direct and indirect relationships among variables. Research Finding : The findings indicate that financial literacy does not significantly influence investment decisions. However, financial literacy has a positive and significant impact on investor risk behavior, which, in turn, significantly influences investment decisions. Furthermore, investor risk behavior moderates the relationship between financial literacy and investment decisions in a positive and significant manner. Theoretical contribution/Originality : These results highlight the critical role of risk behavior as both a mediating and moderating mechanism in leveraging financial literacy for improved investment decision-making. Practitioner/Policy implication : The study's practical implications suggest that financial literacy programs should not only focus on enhancing knowledge but also on fostering risk management skills to support informed investment choices. Research limitation : This study is limited by its relatively small sample size and geographic focus on Makassar City, which may restrict the generalizability of the findings to broader populations. Additionally, the cross-sectional design captures only a snapshot of behavior, making it difficult to infer long-term patterns or causal relationships.
Co-Authors Abdul Nasir Rachman Adriana Amir Jaya Andi Widiawati Andryanus Paridi Andryanus Paridy Anita Datu Sanggalangi Aprilia Maya Astrianita Salim Astuty Sumanto, R.R. Eko Widy Baharuddin Baharuddin Baharuddin Baharuddin Bahri Majid Barto Sikona Benyamin Mongan Bima Muttaqin, Elfran Carolus Askikarno Palalangan Claudio Julio Mongan Corvis L Rantererung Daniella Cynthia Sampepajung Dartika, Gabrillea Desi Rapang Eben Haezer Basran Patandean Elsa Balaba Fadhliah M. Alhadar Flora Samosir Golda, Cipta Hermiati Kini Ifah Finatry Latiep Irdawati Irdawati Irdawati Irdawati Jaya, Amir Jerliyen Pramita Londong Jihan Juliansi Sandapang, Ismelly Kamban, Stevani Tandi Kambuno S., Ronaldo Kordiana Sambara Kristian Hoegh Pride Lambe Lambe, Kristian Hoegh Pride Lilik Handayani Linda Setiawati, Linda Lintang, Jane Litha Clara Wattilete Londong, Jerliyen Pramita Ma'na, Petrus Maiercherinra Daud Manda, Katrini Manuel August Todingbua Maria Yessica Halik Maria Yessica Halik Marlinda Waty Mongan, Benyamin Mongan, Claudio Julio Mukhtar Galib Noviantry Ruruk Nurlia Nurlia Nurlia Olga Fiorella Pagiling Paembonan, Rio Panimba, Wirayanti Pareang, Triani Patandean, Eben Haezer Basran Reni Anastasia Roreng, Petrus Peleng Roswiyanti Roswiyanti Rumopa, Michael Salim, Astrianita Sambara, Kordiana Sasabone, Luana Sipi, Afian Dezi Sanda Sita Yubelina Sabandar Tamara, Kirana Lorenza The Tamzil Yusuf Tandioga, Nadia Timar Tiku Sumule Todingbua, Manuel A Todingbua, Manuel A. Untung, Luther Wattilete, Litha Clara Wildayanti, Rista Yemima Yemima Yenni Daud Yuli Rahmini Suci