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All Journal CARADDE: Jurnal Pengabdian Kepada Masyarakat CEMERLANG :Jurnal Manajemen dan Ekonomi Bisnis Sejahtera: Jurnal Inspirasi Mengabdi Untuk Negeri Jurnal Manajemen Riset Inovasi Trending: Jurnal Manajemen dan Ekonomi Jurnal Riset Akuntansi Jurnal Kabar Masyarakat Maeswara: Jurnal Riset Ilmu Manajemen dan Kewirausahaan Dinamika Publik: Jurnal Manajemen dan Administrasi Bisnis Jurnal Akuntansi, Keuangan, Perpajakan dan Tata Kelola Perusahaan Pusat Publikasi Ilmu Manajemen Akuntansi: Jurnal Riset Ilmu Akuntansi Jurnal Pengabdian Masyarakat Nian Tana Anggaran: Jurnal Publikasi Ekonomi dan Akuntansi Indonesian Journal of Economics and Strategic Management International Journal of Economics and Management Sciences International Journal of Economics, Management and Accounting Digital Innovation : International Journal Of Management Green Inflation: International Journal of Management And Strategic Business Leadership
Elia Rossa
Unknown Affiliation
Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences

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The Role of Profitability in Corporate Sustainable Growth: An Empirical Analysis of Indonesian Listed Companies Elia Rossa
Digital Innovation : International Journal of Management Vol. 2 No. 4 (2025): Digital Innovation : International Journal of Management
Publisher : Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/digitalinnovation.v2i4.553

Abstract

In the dynamic and competitive business environment, profitability has been recognized as a fundamental determinant of corporate sustainable growth. However, the complex relationship between profitability and sustainable growth, particularly through the mediating role of firm performance, remains understudied in emerging markets like Indonesia. This study examines the impact of profitability on corporate sustainable growth and investigates the mediating role of firm performance in this relationship among companies listed on the Indonesia Stock Exchange (IDX). Using a quantitative approach with Structural Equation Modelling (SEM), this research analyses panel data from 112 companies listed on the IDX during 2018-2023, resulting in 672 observations. Profitability was measured using Return on Assets (ROA), sustainable growth using Sustainable Growth Rate (SGR), and firm performance using Tobin's Q. Data were analyzed using PLS-SEM to test both direct and mediating relationships. The findings reveal that profitability has a strong positive and significant impact on sustainable growth (β = 0.417, t = 9.328, p < 0.001), representing the highest path coefficient among all financial determinants examined. Firm performance significantly mediates the relationship between profitability and sustainable growth (indirect effect = 0.096, p < 0.001), indicating partial mediation. The model explains 47.9% of the variance in sustainable growth (R² = 0.479). Profitability emerges as the most critical financial determinant of sustainable growth in Indonesian listed companies. The study confirms that profitability influences sustainable growth both directly and indirectly through enhanced firm performance, providing dual pathways for growth enhancement. These findings have significant implications for corporate financial management and investment decision-making.
Penguatan Kapasitas Literasi Keuangan UMKM Kebon Manggis Jakarta Melalui Edukasi Pengelolaan Keuangan Usaha Lailah Fujianti; Nelyumna Rizal; Elia Rossa
CARADDE: Jurnal Pengabdian Kepada Masyarakat Vol. 8 No. 3 (2026): April
Publisher : Ilin Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31960/caradde.v8i3.3311

Abstract

Pengabdian ini bertujuan untuk meningkatkan literasi dan keterampilan pengelolaan keuangan UMKM melalui program edukasi pengelolaan keuangan usaha. Metode yang digunakan berbasis experiential learning yang meliputi pemberian materi, diskusi, studi kasus, serta evaluasi menggunakan pre-test dan post-test. Peserta kegiatan berjumlah 18 pelaku UMKM yang mengikuti pelatihan secara langsung. Hasil evaluasi menunjukkan adanya peningkatan signifikan pada kemampuan pengelolaan keuangan, termasuk kemampuan membedakan kas usaha dan pribadi, menyusun perencanaan kas, serta melakukan pencatatan kas. Nilai rata-rata kemampuan peserta meningkat setelah pelatihan, dan hasil uji Wilcoxon menunjukkan perbedaan signifikan antara sebelum dan sesudah pelatihan. Temuan ini menunjukkan bahwa edukasi pengelolaan keuangan efektif dalam meningkatkan literasi dan keterampilan pengelolaan keuangan pelaku UMKM. Program ini berkontribusi dalam memperkuat kapasitas manajerial UMKM.
Working Capital and Its Influence on Firm Performance and Sustained Growth: Evidence from Consumer Non-Cyclicals Manufacturing Companies on the Indonesia Stock Exchange Elia Rossa; Nurasia Natsir
International Journal of Economics and Management Sciences Vol. 3 No. 2 (2026): May : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v3i2.1218

Abstract

This study examines the effect of working capital on firm performance and sustained growth among consumer non-cyclicals manufacturing companies listed on the Indonesia Stock Exchange (IDX) over the period 2019–2023. Working capital is operationalized through three distinct proxies derived from Akgün and Memiş Karatəs (2021): the Cash Holding Level (CHL), which measures the proportion of cash and cash equivalents relative to total assets; the Cash Interactive Effect (CIE), which captures the efficiency of converting revenue into operating cash flow; and the Gross Working Capital Ratio (GWCR), which reflects the share of current assets within total assets. Firm performance is assessed through Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q, while sustained growth is measured using the model proposed by Gerson et al. (2025), expressed as SG = b × ROE, where b denotes the earnings retention ratio. Panel data regression analysis is applied to 225 firm-year observations drawn from 45 companies. The study employs the Fixed Effect Model (FEM) for ROA and ROE, and the Random Effect Model (REM) for Tobin’s Q, as determined by the Hausman specification test. The findings reveal that CHL and CIE exert significant positive effects on ROA and ROE, while CIE is the only proxy to produce a statistically significant positive effect on Tobin’s Q. With respect to sustained growth, CHL and GWCR demonstrate significant negative effects, whereas CIE shows a significant positive effect, indicating that operational efficiency dimensions of working capital actively support long-term growth sustainability. These results reinforce the liquidity management theory and contribute empirical evidence that the structure and efficiency of working capital are strategic determinants of both short-term financial performance and long-term growth sustainability in Indonesia’s consumer goods manufacturing sector.
Total Risk and Its Impact on Firm Performance and Sustained Growth: Empirical Evidence from Consumer Non-Cyclicals Manufacturing Companies on the Indonesia Stock Exchange Elia Rossa; Nurasia Natsir
Green Inflation: International Journal of Management and Strategic Business Leadership Vol. 3 No. 2 (2026): May: Green Inflation: International Journal of Management and Strategic Busines
Publisher : Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/greeninflation.v3i2.710

Abstract

This study investigates the effect of total risk on firm performance and sustained growth among consumer non-cyclicals manufacturing companies listed on the Indonesia Stock Exchange (IDX) over the period 2019–2023. Total risk is operationalized through the systematic risk proxy (Beta/β), estimated via the Capital Asset Pricing Model (CAPM) framework as the covariance between individual stock returns and the market return divided by the variance of market returns, using the Jakarta Composite Index (JCI) as the market benchmark. Firm performance is measured through Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q, while sustained growth is operationalized following Gerson et al. (2025) as SG = b × ROE, where b denotes the earnings retention ratio. Panel data regression analysis is applied to 225 firm-year observations drawn from 45 companies, with model selection guided by the Chow and Hausman specification tests. The Fixed Effect Model (FEM) is adopted for ROA, ROE, and SG, while the Random Effect Model (REM) is applied for Tobin’s Q. Results indicate that systematic risk exerts a significant negative effect on ROA (β = −0.312; p < 0.01) and ROE (β = −0.278; p < 0.01), but is statistically non-significant for Tobin’s Q, suggesting that capital market pricing in Indonesia does not fully incorporate systematic risk information. Critically, systematic risk exerts the largest and most significant negative effect on sustained growth (β = −0.347; p < 0.01), revealing a dual transmission mechanism through which risk suppresses ROE while simultaneously inducing more conservative dividend policies, both of which constrain long-run growth sustainability. These findings carry important implications for corporate risk management strategy and empirically enrich the literature on risk, performance, and growth in emerging capital markets.
Co-Authors Achmad Zauhar Muqtafi Adler Haymans Manurung Afifah Rohmawati Aisyah Sekar Ningrum Ajeng Putri Wahyuningtyas Aldila Sukaputri Irmadani Alisya Athalia Alvian Nur Khakim Alya Syafikah Rani Amelia Destiyana Anissa Pujiwaty Arinda Dwi Cahyani Azhar Huwaiza Fathoni Cahaya Zulfah Cahyadi Husadha Dara Dinanti Daudy Erickson Dea Maharani Denya Saputri Dina Erliana Dwi Renaldy Putra Elsa Natali Eva Yanis Lafione Fathiyah Alifah Fitriyani Fitri Nur Kaifa Fitri Sabiyla Yassarah Herlina Yuliyanti Imas Mutikartini Putri Inday Hardika Jihan Salsabilah Khofidah Pujilestari Kiran Maharani LAILAH FUJIANTI Lissa Rahmawati Marcella Puspita Marta Marta Muh Farhan Yudamahendra Muhammad Esa Septian Muhammad Faiz Hidayat Muhammad Maulana Hafizh Muhammad Rivki Adrian Mulyadi Mulyadi Mulyadi Mulyadi Nabila Syifaa Azzahra Suwandi Najwa Balqis Nanda Suci Handayani Umagap Nanditya Andini Nelyumna Rizal Nera Marinda Machdar Neyla Safitri Puthree Maria Situmorang Putri Afrilia Nurrochmah Radina Amalia Maharani Raisa Raisa Ryan Zulhariyahya Saefani Nur Hanifah Salsabila Salsabila Sania Sania Shafa Audina Sukmaningrum Sindy Septiani Siska Aprilia Rahmawati Siti Maisa Zahara Sumarno M Vina Hariyati Yosi Ika Putri Yuyun Yuyun