Arman Jaya
Department Of Management, Universitas Tanjungpura, Jl. Profesor Dokter H. Hadari Nawawi, Bansir Laut, Kec. Pontianak Tenggara, Pontianak, 78124, Pontianak, Indonesia

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Does corporate social responsibility moderate financial performance and firm size on firm value? Nathania Lauren; Ilzar Daud; Helma Malini; Giriati Giriati; Arman Jaya
International Journal of Applied Finance and Business Studies Vol. 11 No. 3 (2023): December: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v11i3.164

Abstract

The global socio-economic crisis has prompted businesses and stakeholders to consider sustainable development initiatives. Protecting firm value through sustainability initiatives was critical to help firms survive the crisis. This study aimed to investigate the moderating effect of Corporate Social Responsibility (CSR) on the relationship between financial ratios, firm size, and firm value during the post-pandemic era, as this period was the best time to fix the firm’s management strategy. The research focused on manufacturing firms that are publicly traded on the IDX from 2021 to 2022. This research employed a purposive sampling method, resulting in a sample size of 38 firms. This analysis technique employed the Multiple Linear Regression. The findings showed that profitability impacts firm value while liquidity, firm size, and CSR insignificantly affect firm value. CSR, as a moderation reduced the impact of profitability on firm value; however, it does not moderate the effects of firm liquidity and firm size on firm value. During the post-pandemic period, various business sectors are navigating economic challenges by implementing strategies to boost sales and strengthen stock values. Therefore, many businesses deprioritize sustainable development because it might increase costs, reducing profits and firm value
Does dividend policy mediate liquidity and profitability on firm value ? Mariana Oktasia; Wendy Wendy; Anwar Azazi; Yulyanti Fahruna; Arman Jaya
International Journal of Applied Finance and Business Studies Vol. 11 No. 3 (2023): December: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v11i3.182

Abstract

This research aims to analyze the effect of liquidity and profitability on firm value mediated by dividend policy. This research employs the panel data regression analysis method by employing Eviews 12. This research analyzes 19 companies on the LQ45 index during 2018-2022, which were selected using a non-probability purposive sampling method. The data source in this research is secondary data obtained through the Indonesia Stock Exchange (IDX) website and several company websites selected as samples for this research. The findings of this research indicate that liquidity (CR) doesn't have any influence on dividend policy (DPR), profitability (ROE) has a negative effect on dividend policy (DPR), liquidity (CR) and profitability (ROE) have a positive impact on firm value (PBV). However, dividend policy (DPR) doesn't influence firm value (PBV). In addition, the findings of this research also indicate that dividend policy (DPR) can not be a mediator in the interaction between profitability (ROE) and liquidity (CR) with firm value (PBV).
Pengaruh Entrepreneurial Orientation dan Market Orientation Terhadap Marketing Performance Pada UMKM di Indonesia Galang Setiadi; Bintoro Bagus Purmono; Arman Jaya; Nur Afifah; Harry Setiawan
eCo-Buss Vol. 8 No. 1 (2025): eCo-Buss
Publisher : Komunitas Dosen Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32877/eb.v8i1.2607

Abstract

Studi ini menganalisis bagaimana orientasi kewirausahaan dan orientasi pasar berkontribusi terhadap kemampuan pemasaran dan kinerja pemasaran UMKM yang beroperasi di Indonesia. Fenomena yang melatarbelakangi penelitian ini adalah jumlah UMKM di Indonesia sangat besar dibandingkan dengan negara tetangga seperti Thailand dan Malaysia. Hal ini menunjukkan UMKM menyumbang sebagian besar PDB Indonesia. UMKM juga menghadapi berbagai tantangan khas dalam hal inovasi, daya saing, dan pendekatan pemasarannya. Sampel pada penelitian ini berjumlah 258 responden dengan purposive sampling. Data dianalisis dengan menggunakan SmartPLS versi 4 dengan metode PLS-SEM. Hasil penelitian menunjukkan bahwa baik Entrepreneurial Orientation maupun Market Orientation memiliki pengaruh positif dan signifikan terhadap Marketing Capabilities dan Marketing Performance. Selain itu, Marketing Capabilities terbukti secara signifikan memediasi hubungan antara kedua variabel independen tersebut terhadap Marketing Performance. Temuan ini menegaskan bahwa kemampuan UMKM dalam berinovasi, mengambil risiko, memahami pasar, serta membangun strategi pemasaran yang adaptif menjadi kunci dalam meningkatkan kinerja mereka. Secara teoritis, penelitian ini memperkuat perspektif Resource-Based View dan Dynamic Capabilities, sementara secara praktis memberikan rekomendasi bagi pelaku UMKM dan pembuat kebijakan untuk meningkatkan kapabilitas pemasaran melalui penguatan orientasi kewirausahaan dan orientasi pasar. Dengan demikian, UMKM dapat lebih siap bersaing dan berkembang dalam era ekonomi digital.