Muhaswad Dwiyanto
Universitas Pembangunan Nasional Veteran Jakarta

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PENGARUH ARUS KAS OPERASIONAL, ARUS KAS INVESTASI, DAN PROFITABILITAS TERHADAP RETURN SAHAM Syahrafi Zakwan; Sumilir Sumilir; Muhaswad Dwiyanto
Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside Vol. 6 No. 1 (2026): Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside
Publisher : Gapenas Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53363/yud.v6i1.184

Abstract

Fluctuations in stock returns among property and real estate companies highlight the importance of fundamental information as a signal for investors, particularly cash flows and profitability. This study aims to examine the effect of operating cash flow (OCF), investing cash flow (ICF), and profitability (ROA) on stock returns. A quantitative approach is employed using panel data from 38 property and real estate firms listed on the Indonesia Stock Exchange over the 2020–2024 period (190 observations). The analysis is conducted using the Common Effect Model (CEM). The results indicate that OCF and ICF have no significant effect on stock returns, while ROA has a positive and significant effect. In conclusion, the market tends to respond more to profitability than to cash flows; therefore, improving efficiency and earnings quality should be prioritized to strengthen stock performance.
PERAN MEDIASI KEPUASAN KERJA PADA PENGARUH SELF-EFFICACY DAN KOMPETENSI TERHADAP KINERJA KARYAWAN INDUSTRI KREATIF DI JABODETABEK Iwan Kresna Setiadi; Siti Hidayati; Guntur Syahputra Saragih; Muhaswad Dwiyanto
Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside Vol. 6 No. 2 (2026): Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside
Publisher : Gapenas Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53363/yud.v6i2.195

Abstract

This study aims to analyze the influence of self-efficacy and competence on employee performance, with job satisfaction as a mediating variable, in the creative industry in the Greater Jakarta area. The study employs an explanatory quantitative approach. The sample consisted of 385 employees in the creative industry in the Greater Jakarta area, selected using purposive sampling based on the study’s criteria. Data were collected via a Likert-scale questionnaire and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4 software. The analysis included an evaluation of the measurement model and the structural model, as well as testing of direct and indirect effects through bootstrapping procedures. The results indicate that self-efficacy and competence have a positive effect on job satisfaction. Job satisfaction also has a positive effect on employee performance. Conversely, self-efficacy and competence do not have a significant direct effect on performance. Job satisfaction was found to mediate the effects of self-efficacy and competence on performance through an “indirect-only” mediation pattern. The indirect effect of competence is greater than that of self-efficacy. The novelty of this study lies in identifying job satisfaction as an affective mechanism that transforms personal beliefs and actual capacity into performance within the context of the creative industry in the Greater Jakarta area. Implications: Organizations need to integrate competency development, self-efficacy enhancement, job design, rewards, organizational support, and increased job satisfaction to maintain creativity, adaptability, consistent quality, and sustainable employee performance in a dynamic, competitive, collaborative, and project-based work environment