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All Journal International Journal of Management Science and Information Technology (IJMSIT)
Putri Prawitaningrum, Harum
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Evaluation of the Impact of Monetary Policy on the Financial Performance of Manufacturing Companies: Implications of Interest Rates, Inflation and Macroeconomic Stability Arios Tiblola, Fredy; Biay, Agustinus; Putri Prawitaningrum, Harum; K Lakamudi, Rahma
International Journal of Management Science and Information Technology Vol. 4 No. 2 (2024): July - December 2024
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/ijmsit.v4i2.3126

Abstract

This study aims to evaluate the impact of monetary policy on the financial performance of manufacturing companies in Indonesia, emphasising the implications of interest rates, inflation, and macroeconomic stability. Using a quantitative approach through multiple regression analysis, this study analyzes the relationship between monetary policy variables of Bank Indonesia's benchmark interest rate, inflation rate, exchange rate, foreign exchange reserves, and budget deficit with the company's financial performance, as measured using Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM). Secondary data used in this study include the annual financial reports of manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2015-2023. The study results indicate that the benchmark interest rate has a significant negative effect on ROA and ROE. In contrast, the inflation rate shows varying impacts on NPM and other financial performance. In addition, macroeconomic stability is measured through indicators of the rupiah exchange rate against the USD, foreign exchange reserves, and budget deficit, which significantly affect the company's financial performance. These findings emphasize the importance of monetary policy and macroeconomic stability in determining the profitability of manufacturing companies in Indonesia. This study implies that corporate management needs to develop more adaptive strategies to deal with fluctuations in monetary policy and macroeconomic conditions. In addition, policymakers need to consider the long-term impact of monetary policy on the manufacturing sector to create an economic environment conducive to industrial growth. This study contributes significantly to the literature on the impact of monetary policy on corporate financial performance in emerging markets.
Evaluation of the Impact of Monetary Policy on the Financial Performance of Manufacturing Companies: Implications of Interest Rates, Inflation and Macroeconomic Stability Arios Tiblola, Fredy; Biay, Agustinus; Putri Prawitaningrum, Harum; K Lakamudi, Rahma
International Journal of Management Science and Information Technology Vol. 4 No. 2 (2024): July - December 2024
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/ijmsit.v4i2.3126

Abstract

This study aims to evaluate the impact of monetary policy on the financial performance of manufacturing companies in Indonesia, emphasising the implications of interest rates, inflation, and macroeconomic stability. Using a quantitative approach through multiple regression analysis, this study analyzes the relationship between monetary policy variables of Bank Indonesia's benchmark interest rate, inflation rate, exchange rate, foreign exchange reserves, and budget deficit with the company's financial performance, as measured using Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM). Secondary data used in this study include the annual financial reports of manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2015-2023. The study results indicate that the benchmark interest rate has a significant negative effect on ROA and ROE. In contrast, the inflation rate shows varying impacts on NPM and other financial performance. In addition, macroeconomic stability is measured through indicators of the rupiah exchange rate against the USD, foreign exchange reserves, and budget deficit, which significantly affect the company's financial performance. These findings emphasize the importance of monetary policy and macroeconomic stability in determining the profitability of manufacturing companies in Indonesia. This study implies that corporate management needs to develop more adaptive strategies to deal with fluctuations in monetary policy and macroeconomic conditions. In addition, policymakers need to consider the long-term impact of monetary policy on the manufacturing sector to create an economic environment conducive to industrial growth. This study contributes significantly to the literature on the impact of monetary policy on corporate financial performance in emerging markets.
The Influence of Internal and External Factors on Stock Price Fluctuations in Manufacturing Companies Arios Tiblola, Fredy; Nuru, Ferdinant; Putri Prawitaningrum, Harum
International Journal of Management Science and Information Technology Vol. 5 No. 2 (2025): July - December 2025
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/ijmsit.v5i2.5213

Abstract

As far as stock prices are concerned, the consideration of both internal and external factors, is very necessary. In this study, we use financial ratios and interest rates as variables to study from 2019 - 2023 the stock prices of manufacturing firms listed on the Indonesia Stock Exchange (IDX). Internal variables investigated here include Return on Assets (ROA), Debt to Equity Ratio (DER) and Earnings Per Share (EPS); while the external variable to be considered is the benchmark interest interest rate. The data used in this study is from the company's own annual reports and internet sources such as Yahoo Finance. A regression model with a Fixed Effect approach took into account both the differences in company characteristics. These analyses shed light on problems such as whether the ROA and EPS affect stock price positive effects at the expense of DER. Instead, we find a significant negative effect on stock prices by benchmark interest rate. The adjusted R² nugget shows that the model is capable of shedding 0.961 units lighter elsewhere in explaining stock price changes. These results are able to help investors and company managers make their market performance related decisions more intelligently by revealing the factors that influence stock price movements.
Co-Authors Arios Tiblola, Fredy Biay, Agustinus Ferdinant Nuru K Lakamudi, Rahma