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All Journal Jurnal Ilmiah Manajemen dan Bisnis (JIMB) Syntax Literate: Jurnal Ilmiah Indonesia Distribusi JURNAL PENDIDIKAN TAMBUSAI Neraca Keuangan : Jurnal Ilmiah Akuntansi dan Keuangan Journal of Humanities and Social Studies Business Management Analysis Journal (BMAJ) Business, Economics and Entrepreneurship Community Engagement and Emergence Journal (CEEJ) SOLUSI JPEKA: Jurnal Pendidikan Ekonomi, Manajemen dan Keuangan JEKPEND Jurnal Ekonomi dan Pendidikan Jurnal Eksplorasi Akuntansi (JEA) Journal Economic and Strategy (JES) Jurnal Ilmiah Wahana Pendidikan Jurnal Ilmu Manajemen Advantage Jurnal Manajemen dan Pemasaran Jasa Jurnal Manajemen, Akuntansi, Ekonomi Research Horizon Dirkantara Indonesia IIJSE RESLAJ: Religion Education Social Laa Roiba Journal JER
Susy Muchtar, Susy
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Religion Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Pengaruh Risiko Terhadap Kinerja yang Dimediasi Capital Adequacy Ratio Pada Bank di Indonesia Ardiastama, Okie Setya; Muchtar, Susy
JEKPEND: Jurnal Ekonomi dan Pendidikan Vol 7, No 2 (2024): Juli
Publisher : Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26858/jekpend.v7i2.64886

Abstract

Penelitian ini menganalisis pengaruh risiko terhadap kinerja bank yang dimediasi oleh rasio kecukupan modal. Metode analisis menggunakan regresi data panel dan uji Sobel untuk menguji variabel independen terhadap variabel dependen melalui variabel mediasi. Data diperoleh dari laporan tahunan perbankan di Bursa Efek Indonesia dari tahun 2018 hingga 2022, dengan sampel sebanyak 48 perusahaan. Analisis regresi data panel menunjukkan bahwa risiko operasional dan risiko likuiditas memiliki efek negatif, sedangkan risiko pasar dan manajemen risiko total memiliki efek positif terhadap kinerja bank. Risiko kredit, risiko operasional, dan risiko likuiditas yang dimediasi oleh rasio kecukupan modal juga mempengaruhi kinerja bank. Rasio kecukupan modal memediasi hubungan antara risiko kredit secara negatif dan risiko operasional serta risiko likuiditas secara positif dengan kinerja bank. Namun, risiko kredit dan risiko pasar yang dimediasi oleh rasio kecukupan modal tidak secara signifikan mempengaruhi kinerja bank
The Effect of Dividend Policy and Environmental Social Governance on Company Performance with Moderation of Good Corporate Governance in IDX LQ45 Companies Wicaksono, Henry; Muchtar, Susy
Neraca Keuangan : Jurnal Ilmiah Akuntansi dan Keuangan Vol. 19 No. 2 (2024): AGUSTUS
Publisher : Fakultas Ekonomi dan Bisnis Universitas Ibn Khaldun Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32832/neraca.v19i2.17194

Abstract

This study aims to analyze the effect of dividend policy and environmental social governance (ESG) on company performance as measured by Tobins'q and stock prices with moderation of Good Corporate Governance (GCG) in companies listed on the LQ45 Index of the Indonesia Stock Exchange (IDX) for the period 2019-2023. The research sample using purposive sampling method obtained 20 companies that entered the criteria to be sampled. The results showed that dividend policy has no effect on company performance as measured by tobin's q and stock price, ESG has no effect on company performance as measured by tobin's q and stock price, financial leverage has no effect on company performance as measured by tobin's q, but financial leverage has an influence with a negative relationship direction on company performance as measured by stock price, company size has a negative and significant effect on company performance as measured by tobin's q, but company size has a positive influence on company performance as measured by tobin's q, GCG moderation proves to have no effect between dividend policy on company performance as measured by Tobin's q, but GCG moderation proves to have a negative effect between dividend policy on company performance as measured by stock prices, GCG moderation has a negative effect between ESG on company performance as measured by Tobins' q, but GCG moderation proves to have no effect between ESG on company performance as measured by stock prices. This research has important implications for companies and investors. For companies, it is important to implement an optimal dividend policy and commit to ESG principles to improve company performance. For investors, these findings can help in making investment decisions by considering factors such as dividend policy, ESG, and corporate governance.
The Effect of Corporate Governance on the Financial Performance of State-Owned Enterprises Moderated by The Inflation Rate Situmorang, Herman; Muchtar, Susy
JPEKA: Jurnal Pendidikan Ekonomi, Manajemen dan Keuangan Vol. 8 No. 2 (2024)
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/jpeka.v8n2.p131-158

Abstract

This study aims to analyze the effect of corporate governance on the financial performance of State-Owned Enterprises (SOEs) with the variable of the Inflation rate which is considered to moderate the relationship between corporate governance and SOEs financial performance. This study uses secondary data from the financial and annual reports of SOEs listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. The purposive sampling method was used to collect 23 samples from the company. Analysis of hypothesis testing data using the E-views 9 application. The results of the study indicate that corporate governance proxied by Government Ownership, Institutional Ownership, Board of Directors Size, Independent Board of Commissioners Size has a negative and significant effect on SOEs financial performance as measured by ROA, conversely corporate governance proxied using Audit Committee Size has a positive and significant effect on ROA. Meanwhile, only Government Ownership and Institutional Ownership negatively and significantly affect ROE, while Board of Directors Size, Independent Board of Commissioners Size, and Audit Committee Size do not affect ROE. In addition, with the moderating factor of inflation rate, the research findings show a significant negative relationship between Government Ownership to ROA, Institutional Ownership to ROA and ROE, and Audit Committee Size to ROE. Meanwhile, with the moderating factor of inflation rate, only the size of the Independent Board of Commissioners positively and significantly affects ROE while the Size of the Board of Directors, Independent Board of Commissioners, and Audit Committee do not affect ROA. The same results for Government Ownership and Board of Directors Size also do not affect ROE with the moderating factor of inflation rate. This study provides information to management on how to run every business process in SOEs to implement good corporate governance, so that SOEs can maintain and improve financial performance even in unstable macroeconomic conditions. Good corporate governance practices can increase the liquidity and value of SOEs shares in the capital market. Investors will tend to invest in companies whose shares are liquid and whose value increases over time. Good corporate governance creates a positive perception in the market, which can boost stock prices. SOEs with strong corporate governance tend to have a more stable and reliable dividend policy. Investors seeking a steady income from their investments will be attracted to SOEs that are able to consistently provide dividends, even in uncertain economic conditions due to inflation. The results of this study provide input to the Government to be able to formulate more targeted policies to support the strengthening of corporate governance in SOEs that include stricter regulations, better supervision, and incentives for SOEs that implement good corporate governance. The Government needs to continue to encourage the improvement of corporate governance in SOEs as part of a long-term strategy to ensure stable and sustainable financial performance, even in economic conditions affected by inflation.
DETERMINAN RETURN ON ASSET PADA PERBANKAN KONVENSIONAL YANG TERDAFTAR DI BURSA EFEK INDONESIA Aryesta, Anisa Umania; Muchtar, Susy
Business, Economics dan Entrepreneurship Vol 6 No 1 (2024): Business, Economics and Entrepreneurship
Publisher : Institut Shanti Bhuana, Program Studi Kewirausahaan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46229/b.e.e..v6i1.853

Abstract

Penelitian ini bertujuan untuk mendalami faktor-faktor yang mempengaruhi Return on Asset (ROA) pada bank-bank konvensional di Indonesia yang terdaftar di Bursa Efek Indonesia. Kajian ini secara khusus memfokuskan pada lima variabel utama: Equity Ratio, Deposit Ratio, Loan Ratio, Liquidity Ratio, dan Non Interest Income Ratio. Metode regresi data panel digunakan, dengan sampel yang mencakup 37 bank konvensional selama periode 2018-2022. Dari hasil analisis, ditemukan bahwa Loan Ratio dan Non Interest Income Ratio memiliki pengaruh positif dan signifikan terhadap ROA. Sebaliknya, Equity Ratio, Deposit Ratio, dan Liquidity Ratio tidak menunjukkan pengaruh yang signifikan. Temuan ini menunjukkan pentingnya manajemen Loan Ratio yang efisien dan strategi diversifikasi pendapatan non-bunga dalam meningkatkan profitabilitas bank. Hal ini menjadi panduan berharga bagi manajemen bank dalam merumuskan strategi untuk meningkatkan kinerja keuangan. Penelitian ini memberikan kontribusi penting dalam pemahaman mengenai faktor-faktor yang mempengaruhi profitabilitas bank konvensional di Indonesia. Analisis komprehensif mengenai pengaruh berbagai rasio keuangan terhadap ROA memberikan wawasan penting bagi praktisi perbankan, investor, dan pemangku kepentingan lain dalam mengevaluasi kesehatan keuangan dan potensi pertumbuhan bank. Studi ini diharapkan membuka peluang penelitian lebih lanjut dalam bidang perbankan konvensional, khususnya di konteks pasar keuangan Indonesia, dan berpotensi memberikan dampak positif pada kebijakan dan praktik perbankan di masa depan. Dengan mengeksplorasi lebih jauh faktor-faktor ini, penelitian berupaya memberikan pandangan yang lebih luas dan mendalam tentang dinamika yang memengaruhi profitabilitas bank di Indonesia, memberikan sumbangsih yang berarti bagi literatur di bidang keuangan dan perbankan.
The Effect of Board Diversity on Performance Mediated by Company Risk in Consumer Cyclicals Companies Putri, Fara Ghassani; Muchtar, Susy
Jurnal Ilmiah Manajemen dan Bisnis Vol 10, No 3 (2024): Jurnal Ilmiah Manajemen dan Bisnis
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jimb.v10i3.28518

Abstract

This research aims to analyze the influence gender on board directors and commissioners on company performance. The data used in this research is secondary data sourced from the annual reports of consumer cyclicals companies listed on the Indonesia Stock Exchange (BEI) during the 2019 - 2023 period. The research sample was selected using a purposive sampling method so that 80 companies were sampled. The data analysis used to test the hypothesis is panel data regression analysis using the Eviews 9 program. The research results show that Gender Diversity has no effect on ROA and Share Prices. Board Independence has no effect on ROA and has a negative effect on share prices. Board Size has a positive effect on ROA and Share Prices. Institutional Ownership has a positive effect on ROA and Share Prices. Liquidity has no effect on ROA and share prices. Gender Diversity has a negative effect on the Debt To Assets Ratio. Board Independence has no effect on the Debt To Assets Ratio. Board Size has no effect on the Debt To Assets Ratio. Institutional Ownership has no effect on the Debt To Assets Ratio. Gender Diversity has a negative effect on ROA and Share Prices which is mediated by the Debt To Assets Ratio. Board Independence has no effect on ROA and Share Prices which are mediated by the Debt To Assets Ratio. Board Size has no effect on ROA and Share Prices which are mediated by the Debt To Assets Ratio. Institutional Ownership has no effect on ROA and Share Prices which are mediated by the Debt To Assets Ratio.
Determinan Bank Performance di Indonesia yang Dimediasi Bank Size Paze, Nabilla Dymari; Muchtar, Susy
JEKPEND: Jurnal Ekonomi dan Pendidikan Vol 8, No 1 (2025): Januari
Publisher : Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26858/jekpend.v8i1.65121

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh likuiditas, kompetisi, pengganda ekuitas dan rasio kecukupan modal yang dimediasi oleh ukuran bank terhadap kinerja bank yang diukur dengan return on asset dan return on equity. Penelitian ini menggunakan sampel bank yang terdaftar di Bursa Efek Indonesia (BEI) dari 2019 sampai dengan 2023. Jumlah sampel penelitian sebanyak 39 bank dengan total 195 data yang sesuai kriteria. Analisis data yang digunakan untuk uji hipotesis yaitu analisis data panel dengan menggunakan program software eviews 12. Hasil penelitian yang diperoleh adalah bahwa likuiditas dan rasio kecukupan modal berpengaruh terhadap kinerja bank yang diukur dengan return on asset dan return on equity. Pengganda ekuitas berpengaruh negatif dan signifikan terhadap kinerja bank yang diukur dengan return on asset dan tidak berpengaruh terhadap kinerja bank yang diukur dengan return on equity. Kompetisi yang diukur dengan kekuatan pasar tidak berpengaruh terhadap kinerja bank yang diukur dengan return on asset maupun return on equity. Hasil penelitian ini juga memberikan informasi bahwa kompetisi yang diukur dengan kekuatan pasar, pengganda ekuitas dan rasio kecukupan modal memiliki pengaruh dan mampu dimediasi oleh ukuran bank terhadap kinerja bank, namun hanya likuiditas yang tidak mampu dimediasi oleh ukuran bank terhadap kinerja bank.
Determinants of Profitability in Indonesian Listed Insurance Companies Arazi, Muhammad Ghazi Al-Ghifari; Arip, Syamsul; Muchtar, Susy
Research Horizon Vol. 5 No. 3 (2025): Research Horizon - June 2025
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/rh.5.3.2025.586

Abstract

Insurance companies play a vital role in managing risk and maintaining economic stability. Understanding the factors influencing their profitability is essential for effective decision-making. This study examines the determinants of profitability among 18 insurance companies listed on the Indonesia Stock Exchange during the 2019–2023 period. Using a quantitative research design, the study analyzes 90 observations by applying panel data regression, which combines time series and cross-sectional data, supported by E-Views 9.0 software. The variables tested include company-specific factors such as age, leverage, liquidity, loss ratio, premium growth, asset tangibility, managerial efficiency, and company size, along with macroeconomic indicators like GDP growth and inflation. The regression results reveal that only managerial efficiency has a significant negative impact on profitability, as measured by Return on Assets. This indicates that lower operational efficiency is associated with reduced profitability. In contrast, variables such as company age, leverage, liquidity, loss ratio, premium growth, asset tangibility, company size, GDP growth, and inflation show no significant effect on profitability. The findings highlight the critical role of internal management efficiency over external or structural factors in driving financial performance. This research offers valuable insights for insurance company managers, emphasizing the need to improve operational efficiency to enhance profitability.
The Influence of Corporate Governance Mechanisms on the Performance of Commercial Banks in Indonesia Lumbantoruan, Desi Natalia; Suryatna, Cantika Nasywa; Muchtar, Susy
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 2 (2025): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i2.6221

Abstract

The banking sector has an important role in supporting sustainable economic growth in Indonesia. However, global economic uncertainty and changes in monetary policy require improved corporate governance mechanisms to maintain financial stability and performance. This study aims to analyze the influence of corporate governance mechanisms, which include Board Size, Board Independence, Capital Adequacy Ratio (CAR), and Firm Sizeon the performance of commercial banks in Indonesia, which is proxied by Earnings Per Share (EPS). This study uses a panel data regression method with a sample of commercial banks listed on the Indonesia Stock Exchange (IDX) from 2019-2023. Secondary data was obtained from financial reports and official publications. The study results showed no influence of Board Size, Board Independence, Capital Adequacy Ratio, and Firm Size towards increasing EPS. This study is expected to contribute to understanding the factors that influence bank performance in Indonesia and become a reference for regulators and bank management to improve sustainable corporate governance.
Faktor – Faktor Yang Mempengaruhi Profitabilitas Perbankan Di Indonesia Prayoga, Agung Kusuma; Alfiyanti, Wulan; Muchtar, Susy
JOURNAL ECONOMICS AND STRATEGY Vol 6 No 2 (2025): Edisi Juli 2025 - Desember 2025
Publisher : Fakultas Ekonomi Dan Bisnis Universitas Tjut Nyak Dhien

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36490/jes.v6i2.1963

Abstract

This study explores the impact of entrepreneurship training on the empowerment of rural communities in Margo Mulyo Village, Rantau Pulung Sub-District, East Kutai Regency. The objective of the programme was to enhance community capabilities in managing and developing local economic potential through the application of entrepreneurial knowledge and skills. The training covered topics such as business planning, marketing strategies, digital branding, and basic financial literacy. A participatory approach was used, involving local residents in workshops, simulations, and direct mentoring. The results indicate that participants demonstrated increased confidence, improved understanding of business concepts, and stronger motivation to start or improve small-scale enterprises. Several participantsinitiated product development and established microbusiness ventures after completing the training. Furthermore, the programme fostered collaboration among community members, creating a support system that contributes to sustainable development. Challenges encountered included limited digital access and initial resistance to change, which were mitigated through adaptive facilitation and community engagement. Overall, the findings suggest that entrepreneurship training can be an effective instrument for empowering rural communities, encouraging self-sufficiency, and promoting local economic growth. The study recommends the integration of similar training modules in rural development initiatives, particularly in areas with high economic vulnerability. Future programmes should also consider follow-up assistance and access to markets to maximise long-term outcomes.
Factors That Influence the Level of Banking Profitability in Indonesia Aditya, Erliana; Resnik, Karin; Muchtar, Susy
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 1 (2025): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.6212

Abstract

This study aims to analyze the level of banking profitability in Indonesia using panel data analysis. Profitability is an important indicator reflecting a bank's financial health and is crucial in determining its sustainability and competitive advantage in the sector. This study examines the factors influencing the level of bank profitability in Indonesia. The sample used in this study was 40 conventional banks listed on the Indonesia Stock Exchange for five years (2019-2023). The sampling technique used was purposive sampling, and the analysis method used in this study was panel data regression. The independent variables in this study consisted of liquidity, capital adequacy, bank size, inflation, and bank income, while the dependent variable in this study was the return on assets. The results of the panel data regression in this study indicate that liquidity and bank size have a significant positive effect on the return on assets. Capital adequacy, inflation, and bank income do not affect the return on assets. The results of this study are expected to serve as a reference for conventional banks in increasing bank profitability by improving capital management efficiency, strengthening liquidity, and expanding the asset base. The results of this study are also expected to serve as a reference for investors in selecting banks with high liquidity and large size as indicators of better profit potential.
Co-Authors Aditya, Erliana Alfiyanti, Wulan Alma, Putri Sakti Arazi, Muhammad Ghazi Al-Ghifari Ardiastama, Okie Setya Arip, Syamsul Aryesta, Anisa Umania Baliartati, Beta Oki Berliana, Syntia Feby Catur Rahayu Catur Rahayu Martiningtiyas Chintya Fadila Laksmitaningrum Damayanti, Sisca Elgammal, Mohammed Elgi, Afrizal Gemala, Sita Aisha Gracia Suitella, Maria Henry Wicaksono, Henry Hizana, Muhammad Ismi Jasmine, Gadis Muthia Jessica Novia Joice, Sally Jordy, Michael Kaligis, Villy Frisillia Larasati, Tiara Anindya Leon, Farah Margaretha Lestari, Henny Setyo Lucy Warsindah Lumbantoruan, Desi Natalia Ningsih, Indah Ayu Nurasa, Rifki Tri Nurendra, Oktafian Dwi Paze, Nabilla Dymari Prayoga, Agung Kusuma Pudyanti, Stefani Dyah Retno Putra Pratama Putri, Fara Ghassani Rahmawati, Nur Intan Resnik, Karin Riadi, M Nala Richy Wijaya Rizky, Filda Situmorang, Herman Sukmana, Leidya Meirina Sultanali, Suleiman Suryatna, Cantika Nasywa Tenika, Eiyagina Wibowo, Risa Alex