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APAKAH LEVERAGE MAMPU MEMODERASI DAMPAK PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP STOCK RETURN? arfian tanjung; Syarif M. Helmi; Khristina Yunita
Jurnal Riset Akuntansi Vol 23 No 1 (2024): Jurnal Riset Akuntansi Aksioma, Juni 2024
Publisher : Jurusan Akuntansi Fakultas Ekonomi Dan Bisnis Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/aksioma.v23i1.304

This study aims to determine the effect of Return on Asset, Operating Profit Margin, Dividend Yield, and Dividend Payout Ratio on stock returns in non-cyclical consumer sector companies on the Indonesia Stock Exchange (IDX) in 2019-2023 and the ability of Leverage to moderate the impact of independent variables. The population in the study included 55 main board type non-cyclical consumer sector issuers on the Indonesia Stock Exchange (IDX). While the sample taken was 28 companies using purposive sampling technique. This study uses multiple linear regression, moderation regression, and hypothesis testing. The results of this study indicate that simultaneously Return on Asset, Operating Profit Margin, Dividend Yield and Dividend Payout have no significant effect on stock return. Partially the Return on Asset variable has a significant positive effect on stock return but the Operating Profit Margin, Dividend Yield, and Dividend Payout variables have an insignificant effect on stock return. Leverage as a moderating variable has not been able to moderate the impact of Return on Asset, Operating Profit Margin, Dividend Yield and Dividend Payout on stock return.

Pengaruh Struktur Modal, Profitabilitas, Ukuran Perusahaan, dan Kepemilikan Manajerial Terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang Terdaftar di BEI Endah Nurcahyati; Syarif M. Helmi; Rusliyawati
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 7 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i7.8079

This study aims to analyze the effect of capital structure, profitability, company size, and managerial ownership on company value, especially in companies included in the automotive sub-sector listed on the Indonesia Stock Exchange (IDX) during the period 2019 to 2023. Company value is an important aspect because it reflects the company's performance and future prospects, as well as being the basis for strategic decision making. Internal factors such as capital structure, level of profitability, company scale, and management ownership are believed to play a role in company value. However, the findings of previous studies still show inconsistencies, especially in the automotive sub-sector after the COVID-19 pandemic. This study uses a quantitative approach with secondary data obtained from the Indonesia Stock Exchange (IDX), in the form of financial reports and annual reports of automotive companies during the study period. The sample was selected using a purposive sampling technique based on certain criteria, so that 55 observation data were obtained. Data analysis was carried out through descriptive statistical tests, classical assumption testing, multiple linear regression, and hypothesis testing. The results of this study indicate that capital structure and profitability have a negative effect on company value, while company size and managerial ownership do not have a significant effect on company value.

Mengungkap Interaksi Profitabilitas dan Kebijakan Hutang Sebagai Penentu Nilai Perusahaan di Sub-Sektor Makanan dan Minuman: Kebijakan Dividen Sebagai Moderasi Ayu Kusuma Cahyaningsih; Tiya Nurfauziah; Syarif M. Helmi
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 7 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i7.8094

The food and beverage industry as part of the non-cyclical consumer sector on the Indonesia Stock Exchange has an important role in supporting the national economy due to its stable growth in the face of economic downturn. However, the weakening of the rupiah exchange rate and the increase in VAT rates pose significant challenges, especially related to the cost of importing raw materials and consumer purchasing interest. This study aims to analyze the effect of profitability and debt policy on firm value, as well as the role of dividend policy as a moderating variable in food and beverage sub-sector companies on the IDX for the 2021–2024 period. The research method used is quantitative. Data analysis techniques use descriptive statistics, classical assumption tests, multiple linear regression analysis, MRA tests, and hypothesis tests to see the relationship between variables. The sample used in this study amounted to 96 data with a period of 4 years of research selected through purposive sampling criteria. The results of the study indicate that profitability as measured by ROE has a positive and significant effect on the value of the company's debt policy as measured by DER has a negative and significant effect. In addition, dividend policy is proven to be unable to moderate the relationship between profitability and debt policy on firm value

Pengaruh Pemahaman Literasi Keuangan dan Risiko Investasi terhadap Minat Investasi Mahasiswa Handika Prima Tarigan; Fera Damayanti; Syarif M. Helmi
AKUA: Jurnal Akuntansi dan Keuangan Vol. 4 No. 4 (2025): Oktober 2025
Publisher : Yayasan Pendidikan Penelitian Pengabdian Algero

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54259/akua.v4i4.5711

Financial literacy and investment risk on the investment interest of students in the Accounting Study Program, Faculty of Economics and Business, Tanjungpura University. The main problem studied is the low level of financial literacy among students, which, based on financial literacy index data, only reaches 56.42%, far below other productive community groups. This is feared to influence students' minimal interest in investing. Using an associative quantitative approach, this study tests hypotheses and analyzes the relationship between variables. The research sample consisted of 77 active sixth-semester students, selected using a purposive sampling technique with the criterion of having taken financial management courses. Data were collected through questionnaires and analyzed using SPSS software. The results of the multiple linear regression test indicate that financial literacy and investment risk partially and simultaneously have a positive and significant influence on students' investment interest. The coefficient of determination (R2) of 67.2% indicates that these two variables are the dominant factors influencing students' investment interest. The conclusion of this study is that understanding financial literacy and awareness of investment risks are very important to encourage students' interest in investing.

Pengaruh Struktur Modal, Profitabilitas, Ukuran Perusahaan, dan Kepemilikan Manajerial Terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang Terdaftar di BEI Endah Nurcahyati; Syarif M. Helmi; Rusliyawati
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 7 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i7.8079

This study aims to analyze the effect of capital structure, profitability, company size, and managerial ownership on company value, especially in companies included in the automotive sub-sector listed on the Indonesia Stock Exchange (IDX) during the period 2019 to 2023. Company value is an important aspect because it reflects the company's performance and future prospects, as well as being the basis for strategic decision making. Internal factors such as capital structure, level of profitability, company scale, and management ownership are believed to play a role in company value. However, the findings of previous studies still show inconsistencies, especially in the automotive sub-sector after the COVID-19 pandemic. This study uses a quantitative approach with secondary data obtained from the Indonesia Stock Exchange (IDX), in the form of financial reports and annual reports of automotive companies during the study period. The sample was selected using a purposive sampling technique based on certain criteria, so that 55 observation data were obtained. Data analysis was carried out through descriptive statistical tests, classical assumption testing, multiple linear regression, and hypothesis testing. The results of this study indicate that capital structure and profitability have a negative effect on company value, while company size and managerial ownership do not have a significant effect on company value.

Mengungkap Interaksi Profitabilitas dan Kebijakan Hutang Sebagai Penentu Nilai Perusahaan di Sub-Sektor Makanan dan Minuman: Kebijakan Dividen Sebagai Moderasi Ayu Kusuma Cahyaningsih; Tiya Nurfauziah; Syarif M. Helmi
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 7 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i7.8094

The food and beverage industry as part of the non-cyclical consumer sector on the Indonesia Stock Exchange has an important role in supporting the national economy due to its stable growth in the face of economic downturn. However, the weakening of the rupiah exchange rate and the increase in VAT rates pose significant challenges, especially related to the cost of importing raw materials and consumer purchasing interest. This study aims to analyze the effect of profitability and debt policy on firm value, as well as the role of dividend policy as a moderating variable in food and beverage sub-sector companies on the IDX for the 2021–2024 period. The research method used is quantitative. Data analysis techniques use descriptive statistics, classical assumption tests, multiple linear regression analysis, MRA tests, and hypothesis tests to see the relationship between variables. The sample used in this study amounted to 96 data with a period of 4 years of research selected through purposive sampling criteria. The results of the study indicate that profitability as measured by ROE has a positive and significant effect on the value of the company's debt policy as measured by DER has a negative and significant effect. In addition, dividend policy is proven to be unable to moderate the relationship between profitability and debt policy on firm value

PENGARUH PENDAPATAN ASLI DAERAH, DANA PERIMBANGAN DAN BELANJA MODAL TERHADAP KINERJA KEUANGAN PEMERINTAH DAERAH KALIMANTAN BARAT Rimenda Tiara Sembiring; Ira Grania Mustika; Syarif M. Helmi
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 9 No 2 (2025): Edisi Mei - Agustus 2025
Publisher : LPPM STIE Muhammadiah Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31955/mea.v9i2.5850

This study aims to investigate how Local Revenue, Balancing Funds, and Capital Expenditures affect the financial condition of the Regional Government in West Kalimantan from 2022-2024. This study uses a quantitative method with secondary data from the Central Statistics Agency (BPS) which is then analyzed using the Eviews 12A application. The data processed includes 42 samples from 14 Regencies/Cities in West Kalimantan. The research findings show that Local Revenue has a significant positive impact on financial performance, while Balancing Funds have a negative impact on financial performance, indicating a potential decrease in the motivation of local governments to optimize local revenue due to dependence on fund transfers. Meanwhile, Capital Expenditures do not show a significant impact on the financial performance of local governments. This study indicates that optimizing Local Revenue is crucial to strengthening regional financial performance. Excessive dependence on Balancing Funds can actually hinder local government efforts to increase Local Revenue. This finding highlights the need for a balance between receiving transfer funds and increasing Local Revenue. The insignificant influence of Capital Expenditures suggests the need to evaluate the effectiveness of regional investment in driving improvements in financial

DETERMINASI FINANCIAL DISTRESS PADA PERUSAHAAN SEKTOR CONSUMER CYCLICALS DI BEI Aurellya Aurellya; Rahma Maulidia; Syarif M. Helmi
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 9 No 2 (2025): Edisi Mei - Agustus 2025
Publisher : LPPM STIE Muhammadiah Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31955/mea.v9i2.5959

Pesatnya perkembangan bisnis dan teknologi memicu persaingan dalam berbagai industri, mengharuskan perusahaan memperkuat manajemen untuk mencegah kebangkrutan. Sebelum mengalami kebangkrutan, perusahaan umumnya mengalami financial distress, di mana kondisi keuangannya memburuk dan mengakibatkan gagal memenuhi kewajiban. Krisis ekonomi global terkait pandemi covid-19 secara khusus berdampak material pada sektor consumer cyclicals di BEI, mengingat sensitivitas sektor ini terhadap fluktuasi ekonomi dan perubahan pola konsumsi. Penelitian ini bertujuan untuk menganalisis tantangan keuangan di sektor consumer cyclicals di Indonesia serta pentingnya analisis laporan keuangan sebagai alat evaluasi risiko investasi. Metodologi penelitian menggunakan pendekatan kuantitatif dengan populasi seluruh perusahaan sektor consumer cyclicals periode 2021-2023 melalui purposive sampling dengan analisis regresi logistik. Ditemukan bahwa likuiditas, profitabilitas dan leverage menunjukkan pengaruh negatif yang signifikan terhadap financial distress.

KEPEMILIKAN DAN STRUKTUR MANAJERIAL : PERAN MEDIASI KOMPLEKSITAS TERHADAP KINERJA PERUSAHAAN MANUFAKTUR KONSUMSI PRIMER INDONESIA Christmasya Amelia; Elok Heniwati; Syarif M. Helmi
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 9 No 2 (2025): Edisi Mei - Agustus 2025
Publisher : LPPM STIE Muhammadiah Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31955/mea.v9i2.6015

This study seeks to evaluate the impact of ownership and managerial structure on the financial performance of primary consumption sector manufacturing firms listed on the Indonesia Stock Exchange (IDX), while also investigating the mediating role of organizational structure complexity. This research employs a quantitative methodology utilizing PLS-SEM analysis tools via SmartPLS 4.0 software. The sample comprises 36 enterprises chosen by purposive sampling from 2021 to 2024. The research findings indicate that both management ownership and managerial structure exert a significantly positive influence on financial success. The complexity of the organizational structure has been shown to adversely mediate the relationship between ownership and managerial structure on financial performance, indicating that increased complexity correlates with a drop in the company's performance. These findings corroborate agency theory and contingency theory, highlighting the significance of congruence between organizational structure and managerial responsibilities in enhancing corporate success. This research enhances the comprehension of internal governance and organizational design's influence on obtaining optimal financial performance.

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