Article Per Year (5 Year)
p-Index From 2020 - 2025
0.444
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All Journal Journal of Advances in Accounting, Economics, and Management Journal of Environmental Economics and Sustainability
Safitri, Uhti Noer Choliza
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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Comparative Analysis of the Financial Performance of PT Ultrajaya Milk Industry & Trading Company Tbk and PT Diamond Food Indonesia Tbk Period 2019-2023 Aulia, Arti Mirza; Safitri, Uhti Noer Choliza; Hidayati, Cholis
Journal of Advances in Accounting, Economics, and Management Vol. 2 No. 3 (2025): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/aaem.v2i3.576

Abstract

This study analyzes the financial performance of PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) and PT Diamond Food Indonesia Tbk (DMND) during the 2019-2023 period. The research uses a qualitative descriptive approach with the evaluation of financial ratios, such as liquidity (current ratio and quick ratio), solvency (debt to asset ratio and times interest earned), activity (inventory turnover and receivables), and profitability (return on assets and return on equity). Data is obtained from annual financial reports published through the Indonesia Stock Exchange and the company's official website. The results of the analysis show that ULTJ excels in profitability stability with an average profit margin of 0.17 and a consistent dividend distribution policy, reflected in the Dividend Yield of 0.154 and Dividend Payout Ratio of 0.7564. On the other hand, DMND is superior in operational efficiency and asset utilization with an average total asset turnover of 1.08 and fixed asset turnover of 2.97. In addition, DMND recorded a higher Return on Equity (ROE) of 1.27, indicating a better ability to generate profit from equity. However, DMND has not distributed dividends during the analysis period, reflecting a focus on reinvestment for business development. This study concludes that ULTJ is strong in profitability and return to shareholders, while DMND excels in asset management efficiency.
The Impact of Carbon Emission Disclosure on Firm Value Aulia, Arti Mirza; Safitri, Uhti Noer Choliza; Hwihanus, Hwihanus
Journal of Environmental Economics and Sustainability Vol. 1 No. 3 (2024): May
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jees.v1i3.354

Abstract

This study illustrates the importance of corporate disclosure of carbon emissions as a strategy to increase firm value in a global context that is increasingly concerned with sustainability. Through a meta-analysis of five international journals, findings show that carbon emissions disclosure is positively correlated with increased firm value in several Asian countries such as Korea and Taiwan, where this transparency is supported by strict government oversight and media attention to environmental policies. However, challenges arise in China, where a lack of responsiveness to economic transformation and inadequate disclosure practices can negatively impact firm value by hindering access to funding and firms' risk management capabilities. The implementation of international standards such as ISO 14064 in carbon emissions management was also emphasized as key to improving transparency, corporate reputation in terms of sustainability, and attractiveness to investors who are increasingly prioritizing sustainable business practices.
Co-Authors - Hwihanus Aulia, Arti Mirza Cholis Hidayati, Cholis