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All Journal EAJ (ECONOMICS AND ACCOUNTING JOURNAL) MASTER: Jurnal Manajemen Strategik Kewirausahaan
Utomo, Kukuh Hadi
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Economics, Econometrics & Finance Education

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Return on Asset sebagai Pemediasi Pertumbuhan Aset dan Net Profit Margin Terhadap Return Saham: Return on Assets as a Mediator for Asset Growth and Net Profit Margin on Share Returns Utomo, Kukuh Hadi; Widhiastuti, Susanti; Andriyani, Meli
MASTER: Jurnal Manajemen Strategik Kewirausahaan Vol. 4 No. 1 (2024): MASTER: Jan 2024
Publisher : LPPM Universitas Pelita Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37366/master.v4i1.1603

Abstract

Penelitian ini bertujuan mengukur pengaruh ROA dalam memediasi Pertumbuhan Aset dan NPM terhadap Return Saham. Data berupa sekunder yang berjumlah 55 data dari 11 laporan keuangan tahunan perusahaan sektor transportasi yang terdaftar di BEI. Jenis metode yang digunakan kuantitatif dengan teknik pengambilan purposive sampling. Uji statistika memakai taraf 5% pengujian yang diolah menggunakan aplikasi SmartPLS3. Hasil penelitiannya diperoleh Pertumbuhan Aset tidak berpengaruh terhadap ROA dan Return Saham. NPM berpengaruh terhadap ROA tetapi tidak berpengaruh terhadap Return Saham. ROA tidak mampu memediasi Pertumbuhan Aset dan NPM terhadap Return Saham. Penelitian ini membuktikan satu hal yang utama yaitu variabel ROA tidak mampu memediasi variabel Pertumbuhan Aset dan NPM terhadap Return Saham. Selain itu, hasil lainnya membuktikan variabel NPM berpengaruh terhadap ROA. Hasil ini hendaknya dijadikan bahan evaluasi perusahaan agar memperhatikan rasio NPM yang dimilikinya karena variabel ini mampu mempengaruhi Return Saham. Para investor juga disarankan untuk menganalisa terlebih dahulu rasio NPM yang dimiliki perusahan sebelum melakukan investasi. This research aims to measure the influence of ROA in mediating Asset Growth and NPM on Stock Returns. The data is secondary, totaling 55 data from 11 annual financial reports of transportation sector companies listed on the IDX. The method used is quantitative with a purposive sampling technique. Statistical tests use a 5% testing level which is processed using the SmartPLS3 application. The research results showed that Asset Growth did not affect ROA and Stock Returns. NPM affects ROA but does not affect Stock Returns. ROA is unable to mediate Asset Growth and NPM on Stock Returns. This research proves one main thing, namely that the ROA variable is unable to mediate the Asset Growth and NPM variables on Stock Returns. Apart from that, other results prove that the NPM variable affects ROA. These results should be used as material for company evaluation so that they pay attention to their NPM ratio because this variable can influence stock returns. Investors are also advised to first analyze the company's NPM ratio before investing.
Dividend Policy as a Moderator of Financial Ambidexterity on Firm Value Utomo, Kukuh Hadi; Widhiastuti, Susanti; Ahmadi, Slamet
EAJ (Economic and Accounting Journal) Vol. 8 No. 3 (2025): EAJ (Economics and Accounting Journal)
Publisher : Universitas Pamulang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32493/eaj.v8i3.y2025.p306-316

Abstract

Tobin's Q, as a measure of firm value, holds significant importance as it encapsulates investor perceptions as well as prevailing conditions within the capital market. It is posited that the implementation of dividend policy may enhance the impact of Financial Ambidexterity on firm value. To substantiate this hypothesis, the present study was designed to analyze both the strengths and weaknesses of this influence. The analysis involved a sample comprising 49 data points collected from 13 companies operating within the banking sector of the financial services sub-sector, specifically covering the period from 2019 to 2023. The method applied is quantitative with purposive sampling technique. Statistical analysis was carried out at a significance level of 5% using the WarpPLS7.0 application. The research results obtained ROI and GPM partially affect the value of the company. ROE partially has no effect on firm value. DPR is unable to moderate the partial effect of ROI, GPM, and ROE on firm value. These results are a concern for companies to maintain the value of their ROI and GPM ratios because they are proven to have an influence.
Co-Authors Meli Andriyani Susanti Widhiastuti