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All Journal International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA) International Conference on Health Science, Green Economics, Educational Review and Technology (IHERT) Jurnal Intelek Insan Cendikia
Chairil Akhyar
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Religion Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences

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FUNDAMENTAL STOCK INVESTMENT DECISION MAKING WITH PRICE EARNING RATIO (PER) APPROACH IN TECHNOLOGY SUBSECTOR STOCK LISTED ON THE INDONESIA STOCK EXCHANGE Hasvinsa Mahra; Chairil Akhyar; Marzuki; Wardhiah
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.100

Abstract

This study aims to determine fundamental investment decisions with the Price Earning Ratio (PER) approach in technology subsector stocks listed on the Indonesia Stock Exchange for the 2018-2021 period. This study uses secondary data in the form of financial statements of each technology subsector company, where the sample used in this study is as many as 11 technology subsector companies listed on the Indonesia Stock Exchange for the 2018-2021 period. The data analysis method used in this study is fundamental analysis using the Price Earning Ratio (PER) approach with the help of Microsoft Excel 2021 software. The results showed that all technology subsector companies used in this study were correctly valued because the intrinsic value of the stock was equal to the stock market price or experienced price stability so that investors could hold the stock.
ANALYSIS OF COMPARISON OF BANKRUPTCY PREDICTION ABILITY BETWEEN ALTMAN Z-SCORE ANALYSIS AND ZMIJEWSKI X-SCORE ANALYSIS IN FINANCIAL SERVICES COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE 2017-2021 PERIOD Shinta Novitalia; Chairil Akhyar; Adnan; Jumaini
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.101

Abstract

This study aims to determine the comparative analysis of bankruptcy predictive ability between the Altman z-score and Zmijewski x-score analyses of financial services companies listed on the Indonesia Stock Exchange for the 2017-2021 period. This study uses secondary data in the form of financial statements of each financial service company, where the sample used in this study is 41 financial service companies listed on the Indonesia Stock Exchange. The data analysis method used is the Altman z-score and Zmijewski x-score models with the help of Microsoft Excel 2019 software. The results of the study reveal that (1) from the results of the Altman Z-Score, it is obtained that as many as 19 companies are predicted to experience bankruptcy within five years of the study period, while 6 financial services companies are predicted not to go bankrupt during the five years of the study period. (2) Zmijewski's analysis shows that 3 financial service companies are predicted to go bankrupt during the five-year study period, and 29 financial service companies are predicted not to go bankrupt during the five-year study period. (3) The results of calculating the level of accuracy found that the Altman Z-Score model is the best in predicting the bankruptcy of financial services companies with an accuracy rate of 68.78%, while the Zmijewski model only obtains an accuracy rate of 16.09%.
LIQUIDITY, SOLVENCY AND PROFITABILITY ANALYSIS COMPANIES BEFORE AND AFTER ACQUISITION -, Suci Andriani; Marzuki; Chairil Akhyar; Adnan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.107

Abstract

This study aims to analyze the Liquidity, Solvency and Profitability of the company before and after the acquisition. This research uses secondary data in the form of annual financial statements of companies listed on the Indonesia Stock Exchange in 2012-2020. The number of companies in this study is 33 companies with sampling using purposive sampling techniques with certain criteria in accordance with the research objectives. The data analysis methods used in this study are descriptive statistical methods and normality tests. Test the hypothesis in this study using the Wilcoxon Signed Rank Test. The results of this study show that the Liquidity ratio, namely Current Ratio (CR) and Quick Ratio (QR) and Solvency ratio, namely Debt to Equity Ratio (DER) and Debt to Assets Ratio (DAR) show that there is no significant difference before and after the acquisition. Then the Profitability ratio, namely Return on Equity (ROE) and Return on Assets (ROA) shows that there is a significant difference before and after the acquisition, but the difference actually shows a significant decline in the company's financial performance after the acquisition.
DETERMINANTS OF CAPITAL STRUCTURE OF PLANTATION COMPANIES ON THE INDONESIAN STOCK EXCHANGE Chairul Azman; Ristati; Yusniar; Chairil Akhyar
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.109

Abstract

This study aims to determine the determinants of the capital structure of plantation companies on the Indonesia Stock Exchange. The data used in this research is secondary data from 22 plantation companies during the research period from 2017 to 2021 so that the observations in the study totaled 110 observations. The method used to analyze the relationship between the independent variables and the dependent variable is the panel data regression method. The results showed that partially Tangibility had a positive and significant effect on capital structure in Plantation Companies on the Indonesia Stock Exchange, Profitability had a positive and significant effect on capital structure in Plantation Companies on the Indonesia Stock Exchange, and Liquidity had a positive and significant effect on capital structure in Plantation Companies on the Indonesian Stock Exchange.
THE EFFECT OF CASH TURNOVER, INVENTORY TURNOVER AND RECEIVABLES TURNOVER ON PROFITABILITYAT A FOOD AND BEVERAGES COMPANY ON THE INDONESIAN STOCK EXCHANGE Ristati; Sri Wahyuni; Chairil Akhyar; Halida Bahri
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 4 (2024): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i4.144

Abstract

This study aims to examine the Influence of Cash Turnover, Inventory Turnover, and Accounts Receivable Turnover on Profitability in Food and Beverage Companies listed on the Indonesia Stock Exchange. The data used in this study is secondary data from 18 companies over six years. The method used to analyze the relationship between independent variables and dependent variables is the multiple linear regression analysis method. The results show that Cash Turnover has a positive and significant influence on profitability in Food and Beverage Companies listed on the Indonesia Stock Exchange, Inventory Turnover has a positive and significant influence on profitability in Food and Beverage Companies listed on the Indonesia Stock Exchange, and Accounts Receivable Turnover has a positive and significant influence on profitability in Food and Beverage Companies listed on the Indonesia Stock Exchange.
THE EFFECT OF FIRM GROWTH, DIVIDEND POLICY, FIRM SIZE, AND LEVERAGE ON PROFIT QUALITY (Study On Transportation Companies Listed On The Indonesia Stock Exchange) Reza Hendri Yana; Ghazali Syamni; Nurlela; Chairil Akhyar; Sari Yulis Terfiadi
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 4 (2024): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i4.152

Abstract

This study aims to determine how the influence of firm growth, dividend policy, firm size, and leverage on profit quality in transportation companies listed on the Indonesia Stock Exchange for the 2018-2022 period. The quality of profit in this study is measured by comparing the value of operating cash flows with net income, then the firms’s growth is measured using the results of the current year's total assets minus the previous year's total assets and divided by the previous year's total assets. Meanwhile, dividend policy is measured by comparing cash dividends to net income, and firm size is measured using the natural logarithm of total equity, and variable leverage is measured by comparing total debt with total company equity. This study uses secondary data obtained from each financial statement of transportation companies listed on the Indonesia Stock Exchange.The sample used in this study is as many as 20 companies obtained using purposive sampling techniques, where the data analysis method used is a multiple linear regression test using the help of eviews software version 10. The research findings indicate that partial company growth has a non-significant positive effect on earnings quality, whereas dividend policy and company size partially have a significant positive effect on earnings quality. Meanwhile, leverage partially has a significant negative effect on earnings quality in transportation companies listed on the Indonesia Stock Exchange for the period 2018-2022.
Finansial Performance Analysis Of Fund Allocation Management Villages Based On Degree Of Decentralization Ratio, Independence Ratio, Effectiveness Ratio And Ratio Growth In Adang Buom Village Alor Regency, East Nusa Tenggara Province Lily Andari Mukhtar; Chairil Akhyar; Muttaqien; Nurlela
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 4 (2024): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i4.153

Abstract

This research aims to analyze the financial performance of village fund allocation management in terms of the degree of decentralization ratio, independence ratio, effectiveness ratio and growth ratio in Adang Buom Village, Alor Regency, East Nusa Tenggara Province. This research is quantitative research with secondary data sources. The data processed is the financial report of Village Fund Allocation in the Village Revenue and Expenditure budget from 2018 to 2022. The data collection technique used is documentation technique. The data analysis technique used in this research is descriptive statistics with the formula for degree of decentralization ratio, independence ratio, effectiveness ratio and growth ratio. The results of this research show that the ratio of the degree of decentralization and the ratio of independence is not good in managing the financial performance of village fund allocation management. while the effectiveness ratio and growth ratio are very good in managing financial performance in managing village fund allocation.
TESTING OF FINANCIAL PERFORMANCE CHANGES IN NATIONAL FINANCING COMPANIES IN THE PRE AND PAST COVID-19 TIMES (Study on Companies in the Sub-Sector of Financing Institutions Listed on the Indonesia Stock Exchange 2018-2022) Iklil; Rico Nur Ilham; Chairil Akhyar; Zulfan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 2 (2024): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i2.192

Abstract

This research examines the differences in financial performance before and after the COVID-19 pandemic among financial sector enterprises listed on the Indonesia Stock Exchange from 2018 to 2022. The socio-economic impact of COVID-19 has affected various sectors of the economy, including both industrial and service sectors, thereby influencing productivity and subsequent company performance. It is noteworthy that the highest growth in financial performance for financing enterprises occurred in 2022, following declines in 2019 and 2020, with a particularly drastic decrease in 2020. The independent variables in this study include financial performance, financing enterprises, liquidity ratio, solvency, profitability, and dividend payout, with COVID-19 as the dependent variable. Data collection utilized secondary data obtained from the official website of the Indonesia Stock Exchange (IDX) and the Annual Reports of each company. The study encompassed 18 sample enterprises listed on the IDX. This research employed a quantitative method, utilizing descriptive statistics and paired sample t-tests to analyze liquidity, solvency, profitability, and dividend payout using the Eviews 13. Findings indicate no significant differences in liquidity, solvency, profitability, and dividend payout ratios before and after the pandemic. These results contradict previous research findings showing varied impacts of COVID-19 on financial performance. The study concludes that financial enterprises effectively managed their assets during the pandemic. Recommendations for future research include expanding the sample size and considering additional financial performance indicators to further explore the impact of COVID-19 on financial performance.
THE EFFECT OF FINANCIAL PERFORMANCE, CAPITAL STRUCTURE AND MANAGERIAL OWNERSHIP ON COMPANY VALUE IN NON-CYCLICALS CONSUMER SECTOR COMPANIES LISTED ON THE IDX Sultan Fadlullah Nuri; Rico Nur Ilham; Chairil Akhyar; Ristati
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 2 (2024): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i2.203

Abstract

This research aims to analyze the influence of financial performance (NPM), capital structure (DAR), and managerial ownership (KM) on company value as measured by Tobin's Q in the non-cyclical consumer sector listed on the Indonesia Stock Exchange (BEI) for the period 2019-2023 period. The research sample consisted of 10 companies selected based on data available on the official IDX website. The method used for data analysis is panel data regression with the help of the E-Views 12 application. The research results show that financial performance (NPM) has a positive and significant effect on company value (Tobin's Q), which indicates that the higher the company's profit margin, the higher as well as the market value of the company. Apart from that, capital structure as measured by (DAR) also has a positive and significant effect on firm value (Tobin's Q), which shows that the use of debt can increase firm value through the leverage effect. On the other hand, managerial ownership (KM) does not have a significant effect on firm value (Tobin's Q), which shows that even though managers own company shares, this factor is not strong enough to influence the assessment of firm value. Overall, the findings of this research confirm that financial performance and capital structure have a positive and significant influence on company value, while managerial ownership does not have a significant influence in the context of companies in the non-cyclical consumer sector listed on the BEI.
THE EFFECT OF FINANCIAL RATIOS ON PROFIT GROWTH IN CONSUMER INDUSTRY SECTOR COMPANIES LISTED ON THE IDX Ravina; Chairil Akhyar; Darmawati Muchtar; Jummaini
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 2 (2024): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i2.205

Abstract

The rapid development of the consumer goods industrial sector in Indonesia, especially in an economic context driven by high demand for consumer goods, makes this sector very important for national economic growth. This research aims to analyze the influence of financial ratios on profit growth in consumer industry sector companies listed on the Indonesia Stock Exchange (BEI) for the 2018-2023 period. The variables analyzed include profitability, liquidity, solvency and activity. The research method used is quantitative with a purposive sampling technique, with panel data that combines cross-section and time series data. The research results show that profitability (ROA), liquidity (CR), and activity (TATO) have a positive and significant effect on profit growth, while solvency (DAR) has a negative and insignificant effect. This research provides insight into the importance of managing financial ratios to increase company profit growth in the consumer industrial sector.
Co-Authors -, Suci Andriani Adnan Arya Permana Ginting Bahri, Halida Chairul Azman Darmawati Darmawati Muchtar Ferian Ghazali Syamni Hairani Putri Hasvinsa Mahra Hepi Boang Manalu Husaini Husaini Husaini Iklil Isma Putri Agustina Jumaini Jummaini Lily Andari Mukhtar M Albani M. Subhan Marzuki Marzuki Marzuki Matriadi, Faisal Maysarah Maysarah Muliani Muttaqien Nurlela Nurlela Nurlela Ratna Sari Siregar Ravina Reja Azwani Reza Hendri Yana Rico Nur Ilham Ristati Ristati Ristati Sari Yulis Terfiadi Shinta Novitalia Siska Tri Amanda Siti Maimunah Siti Zahara Sri Rizky Sri Wahyuni Sultan Fadlullah Nuri Sumiati Wahyuddin Wahyuddin Wardhiah Wardhiah Wardhiah Widya Hartanti Widya Ningrum Wilda Nafisa Yusniar Zihan Chairunnisa Zulfan