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All Journal MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN Jurnal Fakultas Ekonomi : OPTIMAL Publisia: Jurnal Ilmu Administrasi Publik Benefit: Jurnal Manajemen dan Bisnis Al Ishlah Jurnal Pendidikan MANAJERIAL IKRA-ITH EKONOMIKA Finansha: Journal of Sharia Financial Management Relevance: Journal of Management and Business Journal of Islamic Economics and Business Gunung Djati Conference Series Journal of Educational Management Research
M Sandi Marta
UIN Sunan Gunung Djati Bandung
Religion Agriculture, Biological Sciences & Forestry Humanities Biochemistry, Genetics & Molecular Biology Chemical Engineering, Chemistry & Bioengineering Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Public Health Social Sciences Other

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Interactive Effect of Capital Structure on Profitability and Earning Per Share of Sharia Bank M Sandi Marta; Ahmad Gunawan; Syti Sarah Maesaroh; Nugraha Nugraha; Syaiful Bahri
Journal of Islamic Economics and Business Vol 2, No 2 (2022): Journal of Islamic Economics and Business
Publisher : Fakultas Ekonomi dan Bisnis Islam

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (318.665 KB) | DOI: 10.15575/jieb.v2i2.21309

Abstract

The purpose of this study was to examine the effect of return on assets (ROA) and return on equity (ROE) on earnings per share (EPS) with a debt to equity ratio (DER) as a moderator in Islamic banking in Indonesia. The data was obtained from Islamic banking which was indexed on the Indonesia Stock Exchange from 2016 to 2020. The data was then analyzed using the Moderated regression analysis (MRA) method to determine the relationship and interaction of each variable studied. The results showed that ROA had a positive effect on EPS and ROE had a negative impact on EPS. Meanwhile, DER weakens the relationship between ROA and ROE to EPS. This study confirms that the use of debt has a negative impact on the relationship between ROA and ROE on increasing Islamic banking profits in Indonesia.
FIQH LEMBAGA INVESTASI SYARIAH (FIQH PASAR MODAL SYARIAH DAN FIQH OBLIGASI SYARIAH) Maudi Nabila Sukawati; Muhammad Bintang Alfarizi; Nailla Alifia Rahmat; M. Sandi Marta; Azmi Fasa
Gunung Djati Conference Series Vol. 42 (2024): Seminar Nasional Ekonomi dan Bisnis Islam
Publisher : UIN Sunan Gunung Djati Bandung

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Abstract

Akad Jual Beli dari Pandangan Fikih dan Praktik di Pasar Modal Indonesia. Perspektif fikih tentang akad jual dibahas dalam artikel ini. Materi diskusi meliputi Sebagai pedoman bagi masyarakat, penting untuk menjelaskan prinsip-prinsip investasi syariah. Latihan usaha secara tegas dan pasti diungkapkan dalam berbagai bagian Al-Quran dan Sunnah Nabi Muhammad SAW. yang pernah menjalankan bisnis dan merupakan kaki tangan pendukung keuangan Mekah pada masanya. Dalam spekulasi, ada Aturan syariah mengenai perjanjian apa yang diperbolehkan, apa yang dilarang, dan bahaya yang muncul sebagai bagian penting dari latihan spekulasi. Singkatnya, untuk memastikan bahwa lembaga investasi syariah dapat beroperasi dengan mengikuti etika dan moral Islam, sangat penting untuk memahami secara menyeluruh Fiqh Pasar Modal Syariah dan Fiqh Obligasi Syariah.
Stock Valuation Using the Discounted Cash Flow Method with the Free Cash Flow to Firm Approach: Implications and Impact on Educational Management Muhammad Athar Maulana; Usep Deden Suherman; Muhammad Sandi Marta
Journal of Educational Management Research Vol. 4 No. 4 (2025)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v4i4.1036

Abstract

This research analyzes the fair value of stock using the Discounted Cash Flow (DCF) method with the Free Cash Flow to Firm (FCFF) approach for the period 2020-2024, with implications for educational management. The study employs a quantitative descriptive methodology utilizing secondary data from financial statements and supporting databases. AMRT demonstrated robust financial performance with Gross Profit Margin increasing from 20.3% to 21.5%, Operating Profit Margin improving from 2.2% to 3.4%, and Net Profit Margin rising from 1.4% to 2.7% during the analyzed period. The valuation model projects a Compound Annual Growth Rate (CAGR) of 8.5% for 2025-2029, supported by strategic expansion of 800 new stores annually and digital transformation initiatives. Using a Weighted Average Cost of Capital (WACC) of 11.27%, cost of equity of 12.11%, and terminal growth rate of 5.50%, the DCF analysis yields an enterprise value of RP 114.87 trillion. After adjusting for the net debt position, the intrinsic value per share is calculated at RP 2,420, compared to the market price of RP 2,330, indicating a 3.9% upside potential. The findings suggest AMRT is slightly undervalued, presenting a modest investment opportunity for value-conscious investors seeking exposure to Indonesia's expanding retail sector. The implications of this analysis extend to educational management by highlighting the importance of financial management practices and investment strategies within educational institutions to ensure long-term sustainability and growth.
PERKEMBANGAN PASAR MODAL SYARIAH: TANTANGAN DAN PELUANG INVESTASI SYARIAH M Sandi Marta; Muhammad Zaky; Agus Alamsyah Perwiranegara; Dewi Kurniasari; Diva Salsabilla Obadiah
Gunung Djati Conference Series Vol. 56 (2025): Seminar Nasional Ekonomi dan Bisnis Islam
Publisher : UIN Sunan Gunung Djati Bandung

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Abstract

Tantangan dan peluang dalam investasi syariah kini menjadi perhatian utama dalam pasar modal global. Kompleksitas pengembangan investasi yang sesuai dengan prinsip syariah Islam tercermin dari dinamika ekonomi, sosial, dan politik yang melingkupinya. Penelitian ini bertujuan untuk mengkaji perkembangan pasar modal syariah dengan menyoroti berbagai tantangan dan peluang investasi syariah di tingkat global. Metodologi yang digunakan adalah pendekatan kualitatif melalui studi pustaka dari berbagai sumber penelitian. Temuan penelitian mengungkapkan bahwa untuk menjawab tantangan yang ada, pelaku pasar dan ahli syariah perlu memiliki pemahaman mendalam terhadap dinamika pasar serta merancang strategi inovatif yang mengintegrasikan kepatuhan terhadap syariah dengan prinsip keberlanjutan ekonomi. Dalam konteks pergeseran global menuju inklusivitas dan tanggung jawab sosial, investasi syariah menawarkan potensi pertumbuhan ekonomi yang lebih inklusif dan berkelanjutan.
Uji Beda Dampak Pandemi Covid 19: Pengaruh Pertumbuhan Aset, Profitabilitas, dan Struktur Modal terhadap Nilai Perusahaan Sub Sektor Restoran, Hotel & Pariwisata Syti Sarah Maesaroh; M Sandi Marta; Nugraha Nugraha; Maya Sari
Optimal: Jurnal Ekonomi dan Kewirausahaan Vol 14 No 2 (2020): Optimal: Jurnal Ekonomi dan Kewirausahaan
Publisher : Fakultas Ekonomi Universitas Islam 45

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33558/optimal.v14i2.3099

Abstract

Value is one of the important indicators in a company. This study aims to determine the faktors that affect firm value and analyze the effect of the Covid-19 pandemic on firm value in the restaurant, hotel, and tourism sub-sectors. Data analysis used multiple regression analysis through a quantitative descriptive approach. The company sample consists of restaurant, hotel, and tourism sub-sector companies listed on the IDX in 2019 and 2020. The variables observed include aset growth, profitability, capital structure, and firm value. Hypothesis testing was conducted to determine the effect of the independent variable on the dependent variable. The different test of the impact of the Covid-19 pandemic is intended to compare conditions before the pandemic and during the pandemic. The results show that aset growth, profitability, and capital structure have a significant simultaneous effect on firm value. However, partially, aset growth shows a negative effect on firm value. The different test shows that the profitability, capital structure, and company value before the pandemic is significantly different when compared to during the pandemic. This indicates that the pandemic has had a huge impact on the company.
Co-Authors Agus Alamsyah Perwiranegara Ahmad Gunawan Ahmad Gunawan Anis Eliyana Ateng Ruhendi Budi Budi Citra Artiara Yuniar Dedeh Kurniasari Dedeh Kurniasari Dewi Kurniasari Dewi Kurniasari, Dewi Diva Salsabilla Obadiah Fasa, Azmi Kamaludin Yusup, Deni Kurniasari, Dedeh Kurniasari, Dedeh Maesaroh, Syti Sarah Maudi Nabila Sukawati Maya Sari Muhammad Athar Maulana Muhammad Bintang Alfarizi Muhammad Zaky Nailla Alifia Rahmat Nugraha Nugraha Puspo Dewi Dirgantari Ratih Hurriyati Suherman, Usep Deden Suryadi Syaiful Bahri