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NAVIGATING FINANCIAL TURBULENCE: HOW DISTRESS AFFECTS STOCK PRICES IN INFRASTRUCTURE, UTILITIES, AND TRANSPORTATION Tiara, Tiara; Munawarah, Munawarah; Yunus Kasim, Muhammad; Fera, Fera
Jurnal Keuangan dan Bisnis Vol. 22 No. 2 (2024): Jurnal Keuangan Dan Bisnis Volume 22, Number 2, October 2024
Publisher : Catholic University Musi Charitas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32524/jkb.v22i2.1205

Abstract

This study investigates the impact of X-Score, Return on Assets (ROA), Debt to Assets Ratio (DAR), and Current Ratio (CR) on the stock prices of companies in the infrastructure, utilities, and transportation sectors listed on the Indonesia Stock Exchange. A quantitative approach with secondary data was employed, using multiple linear regression analysis. The Zmijewski Score model was utilized to assess the likelihood of company survival. The findings reveal that X-Score, ROA, DAR, and CR positively influence stock prices. The analysis demonstrates that ROA significantly impacts stock prices, suggesting that company profitability is a key determinant. Furthermore, effective debt management, as indicated by DAR, enhances market value. However, CR shows no significant relationship with stock prices, indicating that liquidity ratios do not necessarily correlate with market performance.
Pengaruh Adopsi Sistem Pembayaran Hybrid Terhadap Efektivitas Pengelolaan Keuangan UMKM di Kota Palu: Peran Moderasi Literasi Keuangan Apriliani, Sindi; Yunus Kasim, Muhammad; Darman; Samudra, Suryadi
JURNAL MANAJEMEN MOTIVASI Vol 22 No 2 (2026): Jurnal Manajemen Motivasi
Publisher : Universitas Muhammadiyah Pontianak

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29406/jmm.v22i2.9038

Abstract

The increasing use of hybrid payment systems among MSMEs requires evidence of their impact on financial management effectiveness. This study examines the effect of hybrid payment system adoption on the financial management effectiveness of MSMEs in Palu City, with financial literacy as a moderating variable. A quantitative approach was employed using data from 60 MSMEs selected through purposive sampling and analyzed with Moderated Regression Analysis (MRA). The findings indicate that hybrid payment system adoption positively and significantly improves financial management effectiveness, while financial literacy weakens this relationship. These findings highlight the importance of integrating digital payment adoption with financial literacy development to enhance MSME financial management.