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All Journal Indonesian Journal of Accounting and Governance Jurnal Mahasiswa Entrepreneur
Ardhya Yudistira Adi Nanggala
Universitas Abdurachman Saleh Situbondo
Humanities Economics, Econometrics & Finance Electrical & Electronics Engineering Environmental Science Social Sciences

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Stakeholder Response to Information on Social Responsibility and Income Smoothing Ardhya Yudistira Adi Nanggala
INDONESIAN JOURNAL OF ACCOUNTING AND GOVERNANCE Vol 7, No 2 (2023): DEC
Publisher : Universitas Agung Podomoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36766/ijag.v7i2.365

Abstract

This study aims to examine the response of stakeholder and shareholder to the information submitted by the company. In the discussion of signaling theory, information is a signal and is expected to be responded to by shareholder and stakeholder. The research population is manufacturing companies from 2018 to 2021 in Indonesia, with a purposive sample of 64 companies-years of observation. There are five hypotheses tested using partial least squares. Three hypotheses were successfully accepted and rejected the others. The test results prove that stakeholder respond to CSR as a positive signal for the company but fail to demonstrate the role of income smoothing. Different things are shown that income smoothing is a signal that is responded to by shareholder but is not responded to by stakeholder. The firm value becomes the guideline for the value that stakeholder provides to the company. Testing the mediating role shows that firm value is not an intervening variable because it does not have a direct relationship with growth. Income smoothing affects firm value, and then firm value affects growth. In the development of science, these findings can be used to develop accounting theory. Evidence of stakeholder reactions to signals given by shareholder and management can lead to a process of generalizing and falsifying theories to strengthen financial accounting theory.
PENGARUH DEBT TO EQUIY RATIO (DER), RETURN ON EQUITY (ROE) DAN TOTAL ASSET TURNOVER (TATO) TERHADAP NILAI PERUSAHAAN DENGAN HARGA SAHAM SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN PERTAMBANGAN DI BURSA EFEK INDONESIA PERIODE 2022-2024 Mila Aysah; Ida Subaida; Ardhya Yudistira Adi Nanggala
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 2 (2026): FEBRUARI
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i2.8511

Abstract

This study aims to determine the effect of Debt to Equity Ratio (DER), Return on Equity (ROE), and Total Asset Turnover (TATO) on Company Value through Stock Price as an Intervening Variable in Mining Companies listed on the Indonesia Stock Exchange (IDX) for the period 2022–2024. This study uses a quantitative method with a descriptive approach. The sampling technique used is purposive sampling. The data used are secondary data in the form of financial statements and company annual reports obtained from the official website of the Indonesia Stock Exchange (IDX). Data analysis was carried out using the Structural Equation Modeling (SEM) method with the help of SmartPLS 3.0 software. The results show that Debt to Equity Ratio (DER) has a negative and significant effect on Stock Price, while Return on Equity (ROE) has a positive but insignificant effect on Stock Price. Total Asset Turnover (TATO) has a negative but insignificant effect on Stock Price. Meanwhile, Debt to Equity Ratio (DER) and Return on Equity (ROE) have a positive but insignificant effect on firm value, while Total Asset Turnover (TATO) has a positive and significant effect on firm value. Stock price also has a positive and significant effect on firm value. The results of indirect hypothesis testing indicate that Debt to Equity Ratio (DER) has a negative and significant effect on firm value through stock price, while Return on Equity (ROE) and Total Asset Turnover (TATO) have a positive and negative but insignificant effect on firm value through stock price.
PENGARUH STRUKTUR MODAL, PROFITABILITAS, PERTUMBUHAN PENJUALAN TERHADAP KEBIJAKAN DIVIDEN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI PERIODE 2022-2024 Zilfin Nabela Firdansiyah; Ika Wahyuni; Ardhya Yudistira Adi Nanggala
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 2 (2026): FEBRUARI
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i2.8258

Abstract

The purpose of this study is to determine the effect of capital structure, profitability, sales growth on dividend policy with financial performance as an intervening variable. The object of this study is a pharmaceutical company listed on the Indonesia Stock Exchange in 2022-2024. The results of the direct effect hypothesis test using the Smart PLS 3.0 application, show that capital structure has a significant negative effect on financial performance, profitability has a positive insignificant effect on financial performance, sales growth has a negative insignificant effect on financial performance, capital structure has a significant negative effect on dividend policy, profitability has a negative insignificant effect on dividend policy, sales growth has a positive insignificant effect on dividend policy, financial performance has a positive insignificant effect on financial performance, capital structure has a negative insignificant effect on dividend policy through financial performance, profitability has a positive insignificant effect on dividend policy through financial performance, sales growth has a negative insignificant effect on dividend policy through financial performance.
Co-Authors Ika Wahyuni Mila Aysah Zilfin Nabela Firdansiyah