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All Journal Journal of Economics, Business, & Accountancy Ventura Research of Accounting and Governance Research of Business and Management Journal of Entrepreneurship and Community Innovations Research of Finance and Banking Research of Islamic Economics (RIE) Taxation and Public Finance
Sovi Ismawati Rahayu, Sovi Ismawati
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Humanities Economics, Econometrics & Finance

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Related Party Transactions and Corporate Governance in Business Group: Evidence from Indonesia Santosa, Perdana Wahyu; Rahayu, Sovi Ismawati; Simon, Zainal Zawir; Tambunan, Martua Eliakim
Journal of Economics, Business, and Accountancy Ventura Vol. 25 No. 1 (2022): April - July 2022
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v25i1.2719

Abstract

This paper aims to offer new evidence as to how sub-related party transactions (RPTs) can be related to corporate governance for Indonesia's business group. We address an ongoing theoretical tension and some recent research in the RPTs literature by focusing on revenue, expenses, loans, and receivables. Business groups are classified by size or market capitalization. This paper examines whether RPTs in the business group relate with domestic/foreign shareholders, independent board/commissioner, and firm size as controlling factors. The business groups wereselected through purposive sampling that met the analysis criteria with their typology in the population of business groups listed on IDX. We used panel data analysis for four models. This relationship is more pronounced than some recent research for business group firms and firms with more highly concentrated foreign ownership regarding the effect RPTs on revenue, expenses, loans, and receivables. Related to the controlling variable, firm size shows a significant effect on every sub RPTs. The results may imply that foreign ownership exploits Indonesia with expenses such as cross-border transactions of capital goods, intangible property (royalty), intra-firm services, and the cost of debt. Therefore, there is a need for a balanced interest for government and business in Indonesia via foreign directinvestment with corporate governance implementation and adaptive regulation.
The Influence of Corporate Social Responsibility (CSR) Disclosures, Accounting Conservatism, and Leverage on Earnings Response Coefficient (ERC) Aprilia, Nur Indriyani; Rahayu, Sovi Ismawati
Research of Accounting and Governance Vol. 1 No. 1 (2023): January 2023
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (349.022 KB) | DOI: 10.58777/rag.v1i1.14

Abstract

This study aims to examine the effect of Disclosure of Corporate Social Responsibility (CSR), Accounting Conservatism, Leverage, Earnings Response Coefficient (ERC) partially or simultaneously. The research method used is a quantitative research method and uses secondary data, namely manufacturing companies listed on the Indonesia Stock Exchange. The samples used were 34 companies in 2015-2019 whose acquisitions used the purposive sampling method. The analytical method used is multiple linear regression analysis technique. The results of this study, partially, Disclosure of Corporate Social Responsibility (CSR) and Accounting Conservatism affect the Earnings Response Coefficient (ERC). Meanwhile, Leverage has no effect on the Earnings Response Coefficient (ERC). Simultaneously, Disclosure of Corporate Social Responsibility (CSR), Accounting Conservatism, and Leverage affect the Earnings Response Coefficient (ERC).
Impact of Sharia Stock Prices: A Study on Inflation, Exchange Rate, BI Rate, and Money Supply Subagio, Sidiq; Rahayu, Sovi Ismawati
Research of Islamic Economics Vol. 2 No. 1 (2024): JULY 2024
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i1.274

Abstract

This study aims to examine the effect of inflation, exchange rate, BI Rate, and the amount of money in circulation on Islamic stocks in companies listed on the Jakarta Islamic Index (JII). This study uses a sample of changes in the inflation rate, changes in the exchange rate, changes in the BI rate, changes in the money supply, and Islamic stock prices. This study uses secondary data, namely reports of changes in index obtained from the official website of the Indonesian Stock Exchange and the website of the Central Statistics Agency. With the results obtained in this study, inflation has a significant negative effect on Sharia Stock Prices, Exchange Rates have a significant negative effect on Sharia Stock Prices, amount of money in circulation has a significant positive effect on the price of Sharia shares. Inflation, Exchange Rate, BI Rate, and Money Supply have a simultaneous effect on Sharia Stock Prices in Companies Listed in the Jakarta Islamic Index. Managerial implications, especially for investment managers and fund managers in the Islamic capital market. Knowing the influence of inflation, exchange rates, BI interest rates, and money supply on Islamic stock prices allows managers to make better and more strategic investment decisions.
Do Financial Performance and Corporate Governance Effect on Firm Value: Evidence from Manufacturing Sector Farawansyah, Nur Indah; Rahayu, Sovi Ismawati; Zhafiraah, Nazma Riska
Research of Business and Management Vol. 2 No. 1 (2024): FEBRUARY 2024
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rbm.v2i1.184

Abstract

This study attempts to investigate, either partially or simultaneously, the effects of Financial Performance as determined by Profitability, Solvency, liquidity well, and Good Corporate Governance, as decided by the Audit Committee on Firm Value and the Independent Board of Commissioners. The study approach is quantitative and makes use of secondary data-manufacturing firms registered on the Indonesia Stock Exchange. The population in this study is made up of 143 manufacturing firms. In the interim, the sample for this study was chosen through the technique of purposeful sampling. The analysis method used is multiple linear regression analysis. The Kolmogrof-Smirnof test, multicollinearity test, heteroscedasticity test, t-test, and coefficient of determination test were all employed in this investigation. The study's findings demonstrate that the factors Independent Board of Commissioners, Profitability, Solvency, Liquidity, and Audit Committee each partially positively impact firm value. Managerial implications related to the influence of financial performance and good corporate governance are increased focus on financial performance, increased transparency and disclosure of information, implementation of good corporate governance practices, and risk and compliance management. The valuation of the firm is key in the transfer of business decisions, such as mergers, acquisitions, and stock offerings.
Improving Financial Stability: How Good Corporate Governance Can Prevent Financial Distress Angraini, Fadila; Rahayu, Sovi Ismawati
Research of Accounting and Governance Vol. 3 No. 1 (2025): JANUARY 2025
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v3i1.280

Abstract

This research aims to examine the influence of Good Corporate Governance as proxied by the size of the Board of Directors, Independent Commissioners, Audit Committee and Institutional Ownership on Financial Distress partially or simultaneously. The research method used is quantitative and uses secondary data, namely service firms, one of which is the transportation sector, which is listed on the Indonesia Stock Exchange. The sample used was 7 issuers and the results were obtained using a purposive sampling method. The analytical method used is multiple linear regression analysis techniques. The results of this research show that overall, the size of the Board of Directors, Independent Commissioners, Audit Committee and Institutional Ownership variables partially or simultaneously influence Financial Distress. Managerial Implications for the study on the effect of good corporate governance on financial distress highlight the critical role of robust governance practices in mitigating financial risks and ensuring organizational stability. Implementing strong governance mechanisms such as effective board oversight, transparent financial reporting, and adherence to regulatory requirements can significantly reduce the likelihood of financial distress.
Exploring Key Determinants of Indonesia Bank Profitability: An In-Depth Analysis Choirunnisa, Choirunnisa; Rahayu, Sovi Ismawati
Research of Finance and Banking Vol. 3 No. 1 (2025): April 2025
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rfb.v3i1.371

Abstract

This study aims to examine the effect of Capital Adequacy Ratio (CAR), Non-Performing Financing (NPF), Operating Costs, Operating Income (BOPO), and Financing to Deposit Ratio (FDR) on bank profitability, measured by Return on Assets (ROA). The research originates from the need to evaluate financial performance indicators that influence profitability, especially in state-owned commercial banks listed on the Indonesia Stock Exchange (IDX). These banks play a pivotal role in Indonesia's financial system, making them critical subjects for analysis. The study uses secondary data sourced from the IDX for the 2018–2020 period and applies purposive sampling to select 7 banks, resulting in 21 data samples. Data analysis involves both partial and simultaneous hypothesis testing. The findings indicate that NPF, BOPO, and FDR have a significant effect on profitability, while CAR does not. Simultaneously, all variables significantly influence ROA. Managerial implications highlight the importance of focusing on operational efficiency, managing asset quality, and optimizing credit distribution to enhance profitability. Understanding these financial ratios enables bank managers to formulate more targeted and effective strategies to improve performance and sustain long-term financial health
Enhancing Firm Value: The Role of Managerial Ownership, Independent Commissioners, Audit Quality, and Corporate Social Responsibility Puspitasari, Inggit Dwi; Rahayu, Sovi Ismawati
Taxation and Public Finance Vol. 2 No. 2 (2025): JUNE 2025
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/tpf.v2i2.367

Abstract

This study aims to investigate the impact of managerial ownership, independent commissioners, audit quality, and corporate social responsibility (CSR) on firm value. It employs a quantitative research approach and focuses on a sample of companies within the primary consumer goods sector. The sampling method utilized is purposive sampling, resulting in a total of 23 companies. Secondary data, specifically the financial statements of these companies, were obtained from the official website of the Indonesian Stock Exchange (IDX). The analysis is conducted using multiple linear regression. The findings reveal that managerial ownership, audit quality, and CSR have a significant positive effect on firm value. In contrast, the variable of independent commissioners does not exhibit a significant impact on firm value. This study contributes to the existing literature by providing empirical evidence regarding governance and CSR practices that enhance firm value in emerging markets. It provides valuable insights for stakeholders seeking to enhance corporate governance mechanisms. From a managerial perspective, the results suggest that companies should enhance governance frameworks by increasing managerial ownership and ensuring that independent commissioners play an active role in strategic oversight. Additionally, prioritizing good audit quality is essential for improving transparency and fostering stakeholder trust.
Related Party Transactions and Corporate Governance in Business Group: Evidence from Indonesia Santosa, Perdana Wahyu; Rahayu, Sovi Ismawati; Simon, Zainal Zawir; Tambunan, Martua Eliakim
Journal of Economics, Business, and Accountancy Ventura Vol. 25 No. 1 (2022): April - July 2022
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v25i1.2719

Abstract

This paper aims to offer new evidence as to how sub-related party transactions (RPTs) can be related to corporate governance for Indonesia's business group. We address an ongoing theoretical tension and some recent research in the RPTs literature by focusing on revenue, expenses, loans, and receivables. Business groups are classified by size or market capitalization. This paper examines whether RPTs in the business group relate with domestic/foreign shareholders, independent board/commissioner, and firm size as controlling factors. The business groups wereselected through purposive sampling that met the analysis criteria with their typology in the population of business groups listed on IDX. We used panel data analysis for four models. This relationship is more pronounced than some recent research for business group firms and firms with more highly concentrated foreign ownership regarding the effect RPTs on revenue, expenses, loans, and receivables. Related to the controlling variable, firm size shows a significant effect on every sub RPTs. The results may imply that foreign ownership exploits Indonesia with expenses such as cross-border transactions of capital goods, intangible property (royalty), intra-firm services, and the cost of debt. Therefore, there is a need for a balanced interest for government and business in Indonesia via foreign directinvestment with corporate governance implementation and adaptive regulation.
Pemanfaatan Business Model Canvas sebagai Strategi Peningkatan Kapasitas UMKM di Jakarta Pusat Lily Deviastri; Annisa, Intan Tri; Heriyanto, Toto; Rahayu, Sovi Ismawati
Journal of Entrepreneurship and Community Innovations Vol 3 No 1 (2024): AGUSTUS 2024
Publisher : Lembaga Penelitian Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33476/jeci.v3i1.200

Abstract

Kegiatan ini bertujuan untuk mengidentifikasi dan mengevalusi pengetahuan dan ketrampilan UMKM dalam meningkatkan kapasitas kewirausahaannya dalam mengidentifikasi model bisnis. Berkolaborasi secara pentahelix dengan semua pemangku kepentingan pasca Covid-19 menjadi hal yang penting bagi mereka untuk meningkatkan inovasi serta menyesuaikan diri dengan kondisi yang ada. Kurangnya kemampuan UMKM dalam memahami model bisnisnya menjadi perhatian selama ini. Sehingga pelatihan pemanfaatan Business Model Canvas (BMC) untuk melihat usaha secara holistik menjadi perlu dilakukan. Adapun narasumber internal dari Inkubator Bisnis Universitas YARSI yang terlibat dalam kegiatan ini. Hasilnya peserta mampu mengidentifikasi usahanya dengan menggunakan format BMC
Co-Authors Angraini, Fadila Annisa, Intan Tri Aprilia, Nur Indriyani Choirunnisa Choirunnisa, Choirunnisa Farawansyah, Nur Indah Heriyanto, Toto Lily Deviastri Martua Eliakim Tambunan Perdana Wahyu Santosa Puspitasari, Inggit Dwi Subagio, Sidiq Zainal Zawir Simon, Zainal Zawir Zhafiraah, Nazma Riska