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All Journal JIA (Jurnal Ilmiah Akuntansi) Ekuitas Jurnal Pnedidikan Ekonomi
Henny Rahyuda
Udayana University
Economics, Econometrics & Finance Education

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The Effect of Macroeconomic Indicators on Profitability and Firm Value Made Reina Candradewi; Henny Rahyuda
Ekuitas: Jurnal Pendidikan Ekonomi Vol. 11 No. 2 (2023)
Publisher : Fakultas Ekonomi Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ekuitas.v11i2.68672

Abstract

The objective of this study encompasses an examination of the influence of inflation, gross domestic product, and profitability on the valuation of companies within the Indonesian stock market, with specific emphasis on corporations listed in the LQ45 index on the Indonesia Stock Exchange (IDX). The LQ45 index as it offers a focused and comprehensive view of the Indonesian stock market, allowing them to draw meaningful conclusions about the impact of inflation, GDP, profitability, and other factors on the valuation and performance of these selected companies. The primary aim of this research is to provide valuable insights to corporations regarding the significance of maintaining profitability and firm value while taking into consideration macroeconomic indicators. The research methodology employed in this investigation is of a quantitative nature. The study encompasses the entirety of companies listed within the LQ45 Index on the IDX as the designated population. The technique employed for sample selection is purposive sampling. The selected sample comprises companies that have consistently maintained their listing in the LQ45 Index on the IDX from 2016 to 2022, totaling 31 companies. The outcomes of the goodness-of-fit examination and the robustness assessment of the model utilized within this study unequivocally affirm the model's exceptional effectiveness in aligning with the available dataset. The analysis of the results of the regression analysis and the mediation assessments leads to the definitive conclusion that the Gross Domestic Product variable exerts a remarkably positive and statistically significant influence on Firm Value. Likewise, the Profitability variable significantly and positively impacts firm value. However, it is imperative to acknowledge that profitability does not function as a mediating factor in the relationship between Inflation and Gross Domestic Product in the context of firm value.
Implementation of Catur Purusa Artha in Village Credit Institution’s Financial Management Ida Bagus Anom Purbawangsa; Henny Rahyuda; Ketut Arya Bayu Wicaksana
Jurnal Ilmiah Akuntansi Vol 8 No 2 (2023)
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/jia.v8i2.60466

Abstract

   This study delves into the implementation of Catur Purusa Artha in managing the finances of Village Credits Institutions. Defining Dharma as adherence to rules, Artha as the pursuit of profits, Kama as efforts towards development, and Moksha as endeavors for harmony with stakeholders, the research explores these principles across 40 Village Credit Institutions (LPD). Data, collected through questionnaires and analyzed using frequency distribution techniques, provides insights into the incorporation of these concepts. Triangulation strengthens findings through comparisons with in-depth interviews of two LPD informants outside the sample group. The results reveal that all respondents implement the Catur Purusha Artha concept. However, a nuanced analysis highlights areas for improvement, specifically in lending activities and product development. This study indicates a fusion of traditional and modern management approaches within LPDs, showcasing a dynamic blend of principles that contribute to their financial management. These findings offer valuable insights for enhancing the effectiveness of Village Credit Institutions by addressing specific areas requiring attention and emphasizing the coexistence of traditional and contemporary management practices in LPDs. 
Co-Authors Ida Bagus Anom Purbawangsa Ketut Arya Bayu Wicaksana Made Reina Candradewi