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Pengaruh Variabel Makro Ekonomi Terhadap Kinerja Reksa Dana Dengan Ihsg Sebagai Variabel Intervening Pandu Prihanantyo, Andika; Akhmadi, Akhmadi; Purwanda, Eka
GEMA EKONOMI Vol 12 No 2 (2023): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Abstract

This study aims to determine whether the influence of macroeconomic variables proxied by bond yields and inflation on the performance of mutual funds with the composite stock price index (JCI) as an intervening variable. The population used in this study was all stock mutual fund products for the 2016-2021 period. The sample of this study amounted to 48 stock mutual fund products out of 389 total population with a sample of 72. The data analysis method used in this study is Path Analysis. By using the program SPSS 26.The results showed that macroeconomics using government bond yield proxies and inflation had a significant negative effect on mutual fund performance. Then, government bond yields and inflation have a significant positive effect on mutual fund performance. Then JCI cannot mediate the relationship between bond yields and mutual fund performance and the relationship between inflation and mutual fund performance.
Pengaruh Kebijakan Hutang Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderating Bakti Nugraha, Alfian; Akhmadi, Akhmadi
GEMA EKONOMI Vol 12 No 5 (2023): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Abstract

This study aims to examine the effect of debt policy on firm value moderated by dividend policy. As an additional analysis, this research will also examine the role of downstream mining and the COVID-19 pandemic in moderating the effect of debt policy on company value. The approach used in this research is a quantitative approach. The research sample consisted of nine mining companies listed on the IDX for the period 2018 - 2022. The research data is secondary data which is then analyzed using the panel regression analysis technique. The results of this study indicate that debt policy has a negative effect on firm value. The results of this study also indicate that dividend policy can weaken the effect of debt policy on firm value. Further analysis in this study regarding the role of mining downstream and the Covid 19 pandemic in moderating the effect of debt policy on company value shows the result that mining downstream can weaken the decline in company value due to high debt policy, while the Covid 19 pandemic can strengthen the influence of debt policy on company value
Pengaruh Kebijakan Dividen Dan Bi Rate Terhadap Nilai Perusahaan Dengan Struktur Modal Sebagai Variabel Intervening Apriana, Ifan; Akhmadi, Akhmadi
GEMA EKONOMI Vol 12 No 5 (2023): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Abstract

This study aims to examine the effect of dividend policy and the BI Rate on firm value with capital structure as an intervening variable in banking sector companies. The approach used in this research is a quantitative approach. The sample in this study were 14 banking sector companies listed on the IDX in the period 2018 - 2022. The research data is secondary data which is then analyzed using the panel regression analysis technique. The results of this study are that the dividend policy and the BI Rate cannot directly affect firm value, the level of dividend policy and the BI rate do not always have an impact on the level of firm value, but indirectly, policy and the BI Rate can affect company value. company through capital structure. Capital structure is a full mediation on the effect of dividend policy and firm value.
Pengaruh Struktur Modal Dan Profitability Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Pemoderasi Dewi, Elawati; Akhmadi, Akhmadi
GEMA EKONOMI Vol 12 No 5 (2023): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Abstract

The purpose of this study is to examine the impact of capital structure and profitability on firm value moderated by dividend policy in industrial sector companies. The approach used in this research is a quantitative approach. The sample in this study were 8 companies in the chemical industry sector that were listed on the IDX in the period 2015 - 2021. The research data is secondary data which is then processed using the panel regression analysis technique. Panel regression results show that capital structure has a positive impact on firm value, profitability has a positive impact on firm value, dividend policy can weaken the impact of capital structure on firm value but dividend policy does not moderate the impact of firm profitability on firm value, companies with the right capital structure will have firm value which is not good if the company implements a large company dividend distribution while on the relationship between company profitability and company value, both companies with low and high dividend policies, the effect of profitability on company value is equally strong
Pengaruh Likuiditas Dan Solvabilitas Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Pemoderasi Ameliani, Findia; Akhmadi, Akhmadi
GEMA EKONOMI Vol 12 No 5 (2023): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Abstract

This study aims to examine the effect of liquidity and solvency on firm value moderated by profitability in the metal and allied product sector companies. The approach used in this research is a quantitative approach. The sample in this study were 13 companies in the metal and allied product sector that were registered on the IDX in the period 2015 - 2021. The research data is secondary data which is then processed using a panel regression analysis technique. The results showed that liquidity did not have a significant effect on the value of companies in the metal and allied product sector, while solvency proved to have a significant effect on the value of companies in that sector. Profitability apart from being a predictor of firm value can also moderate the effect of liquidity and solvency on firm value.
Moderated Mediation of Capital Structure and Company Value by Asset Utilization and Financial Distress Saputro, Tri Hijrah; Akhmadi, Akhmadi; Ichwanudin, Wawan
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 2 (2024): June
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i2.144

Abstract

This study examines the moderated mediation effects between capital structure and company value using asset utilization as the moderating variable and financial stress as the mediating variable. The study uses the Hayes PROCESS macro model 14 with SPSS Statistics 27 version, and it uses a sample size of 40 observations from 8 enterprises listed in the Software and IT Services subsector on IDX between 2019 and 2023. The capital structure has a direct beneficial impact on firm value. There is no mediation of the link between leverage and firm value by asset utilization. The link between asset usage and business value can be moderated by financial distress, but the indirect impact of leverage on firm value through asset use is not much mitigated by financial distress. These results emphasize the dependent impacts of financial crisis on operational efficiency and business valuation while showing the complex function of leverage in boosting corporate value. They also partially align with the trade-off theory and pecking order theory.
Impact of Capital Structure on Firm Value with Profitability as Mediator: Indonesian Coal Companies Study Widigdya, Singgih; Akhmadi, Akhmadi; Ichwanudin, Wawan
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 1 (2024): March
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i1.151

Abstract

Over the past six years, global economic volatility shaped by geopolitical complexities has significantly impacted the coal sector, marked by fluctuating prices influenced by events such as the Ukraine crisis and the COVID-19 pandemic. This study focuses on Indonesian coal companies, examining the relationship between capital structure (DER), firm performance (ROA), and firm value (PBV). Through empirical analysis of 15 listed companies from 2018 to 2023, utilizing Hayes' Process Macro Model 4, the research finds that higher Debt to Equity Ratios (DER) negatively affect Return on Assets (ROA), indicating reduced efficiency in asset utilization. However, DER positively correlates with Price to Book Value (PBV), implying investor optimism regarding future earnings and asset worth. The study underscores the nuanced interplay between financial metrics in shaping corporate value within Indonesia's coal sector, offering insights for strategic financial management amid market uncertainties.
See The Potential of Dividend Policy and Profitability in Increasing Company Value Mutmainah, Mutmainah; Akhmadi, Akhmadi
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 3 (2024): September
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i3.155

Abstract

The purpose of this study is to assess how dividend policy affects the way that profitability and firm value are related. The study focuses on companies in the oil and gas subsector that are listed between 2018 and 2023 on the Indonesia Stock Exchange. Seven companies were selected as a sample using purposive sampling. Descriptive statistics, Moderated Regression Analysis (MRA), and hypothesis testing are used in the analysis. The results imply that company value is not much impacted by profitability alone. On the other hand, when dividends are paid out, the dividend policy serves as a direct moderator, strengthening the positive relationship between profitability and company value. This is in line with the signaling hypothesis, which holds that dividend payments tell investors about the company's financial health and prospects for the future. However, the findings are not broadly applicable as the study is confined to the oil and gas subsector and uses only one proxy for each variable. Future research should broaden the scope to multiple subsectors and incorporate several proxies for each variable.
The Influence of Profitability and Leverage on Firm Value with Firm Size as A Moderation Variable Hardiyanto, Raditya Hanan Naufal; Akhmadi, Akhmadi
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 3 (2024): September
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i3.160

Abstract

This research aims to analyze the effect of profitability and leverage on Firm Value with Firm size as a moderating variable in sector companies with processed food sub-industry listed on the Indonesia Stock Exchange in 2021 - 2023. The sample and population in this study consist of 19 companies Processed Food Sub Industry. The data analysis method used in this research is panel data regression analysis and regression analysis with moderate data processing carried out by this research using SPSS Statistics 27 software. The results of the research show that all variables pass the classical assumption test and are suitable for use as research data. The t test statistic on Firm value shows that profitability has a positive but not significant effect on Firm value, while leverage does not have a significant effect on Firm value. Firm size is able to moderate profitability and leverage on Firm value.
Banking Financial Performance as Influenced by Credit Risk, Liquidity and Bank Size In Conventional Banks Listed On The Indonesian Stock Exchange For The Period 2014 - 2023 Muntaqiah, Kiki; Akhmadi, Akhmadi
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 4 (2024): December
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i4.221

Abstract

This study aims to empirically examine the impact of credit risk, liquidity, and bank size on the financial performance of conventional banks listed on the Indonesia Stock Exchange (IDX) during the period 2014-2023, with a particular focus on the COVID-19 pandemic period. The research variables used include the Non-Performing Loan (NPL) ratio, Loan to Deposit Ratio (LDR), and bank size, while Return on Assets (ROA) is used as a financial performance indicator. This study uses the purposive sampling method to select a sample from 138 banks listed on the IDX, resulting in 9 banks that meet the established criteria. Data analysis was conducted using panel data regression with the Fixed Effect Generalized Least Square (GLS) model to address the issues of autocorrelation and heteroskedasticity found in classical assumptions. The research results show that credit risk (NPL) has a significant negative impact on ROA, while bank size and liquidity (LDR) have a significant positive impact on ROA during the pandemic. These findings highlight the importance of managing credit and liquidity risks as well as optimizing bank size to improve financial performance amid the challenging economic conditions caused by the pandemic. This study also suggests that the financial performance of banks can be more stable if supported by appropriate risk management strategies and good operational efficiency. The limitations of this study include a sample restricted to conventional banks in Indonesia and the specific conditions during the COVID-19 pandemic, which may affect the generalization of the results.
Co-Authors A'inatunnadillah, Ningtias Abdul Rosyid Adam, Chaidir ade jermawinsyah zebua Adhikara, Imam Manggalya Adikusumah, Kreshna Adyarini, Dwita Dyah Agustin, Amalina Batrisyia Agustinus Nur Arief Hapsoro ahmad rizal Ainatunnadillah, Ningtias Al Fauzi Hakim Albetris, Albetris Alexandra, Nabila Alya Aliyah, Ratu Bunga Ameliani, Findia Amir Hasanudin Fauzi Ana Susi Mulyani Ana Susi Mulyani Andarista, Shika Savira Andarwati, Fitriana Andhika Ragil Prasetyo Andiani, Filsa Andreas Rio Adriyanto Anggraeni, Vita Yanti Annisa Rachmawati Apriana, Ifan Araina, Elga Ariandini Ariadini Armandiansa, Armandiansa Armi, Armi Arnanti Primiana Yuniati Arundati, Athayasany Thalita Ashifa, Nyayu Azalia Syahla Athifa Sri Ismiranti Ayyu Sandhi Azizi, Enji Azwar Anas Bagus Firmansyah, Bagus Bakti Nugraha, Alfian Bambang Mahmudi Basuki, Bejo Cahyani, Redyta Dwi Catur Nugroho Clara Novita Anggraini Dewantari, Devia Ayu Dewantari, Tika Nabila Dewi, Elawati Djoko Murdowo Doddy Friestya Asharsinyo Dony Dony Dyah Ayu Wiwid Sintowoko Eka Kurniasari Eka Purwanda Eka Purwanda, Eka Eli Amaliyah Ema Madyaningrum Eni Purwaningsih Enis Khaerunisa Enis Khaerunnisa Ennike Gusti Rahmi Erlana Adli Wismoyo Ernis Chaerunisa Euis Nurus Sofia Fachry Abda El Rahman Fahrina, Ririn Fajarsani Retno Palupi Farid, Dzaki Miftah Farida, Ariesa Fariq, Masrur Fikri Budiman Fitri Handayani Fitri Haryanti fitria ningsih Fitriani, Kiki Liya Fuad, Fadlan Ahmad Gilang Assa Ichwanto Haidar, Muhammad Sayyaf Hambali Wiman, Reza Hana Faza Surya Rusyda Handayaningsih, Anastasia Evi Hanif Azhar Hardianto Nugroho Hardiyanto, Raditya Hanan Naufal Hartanti, Rio Eka Desi Purwandari Hasanah, Nisa Nur Helmi Yazid Hendi Anwar Herniati , Melly Hidayat, Raisya Rahmaniar Hidayat, Robbi Hikmat, Imat Ida Asiah Nurfitriyani Indra Suhendra Inggit Inggit Irwan Sudarisman Irwana Zulfia Budiono Jayawarsa, A.A. Ketut Jermawinsyah Zebua, Ade Juliansyah, Dekrit Kamila, Salma Hasna Kartika Sari Khaerunnisa, Enis Kusuma Putri, Rahmadyah Kusumawati, Ananda Sekar Kuswantoro, Muhammad Lely Lusmilasari, Lely Lismawan, Saraswati Liswara Neneng Mahendra Nur Hadiansyah Mahmudi, Bambang Manayra, Shaffa Alithia Martiyadi Nurhidayat Mei Neni Sitaresmi Meirizka, Fathina miftahussurur, wildan Mina Wati Dewi Mochamad Yudha Febrianta Moh Muksin Monica, Viva Mufti, Nada Setia Mulyani, Ana Susi Muntaqiah, Kiki Musyafa, Faiz Indra Mutmainah Mutmainah Nabila Tsabita Mustarih Najin, Rifqi Muhammad Nanda, Rexha Septine Faril Nauval Noviansyah Nur Sheha Gunawan, Ahmad Nur Sul Yasmi, Eka Nurohman Nurohman Nurohman, Nurohman Nursakti Nursakti Nurul Fitriana Bahri Pancalaksana, Raden Djati Pandu Prihanantyo, Andika Panny, Priscilla Parmawati, Ika Pradipta, Afradilla Hanum Prahyawan, Wawan Prakoso, Riski Wisnu Pratama, Hafidh Ahmad Rizqi Pratiwi, Alissa Nur Pratiwi, Bhekti Prawita, Fat’hah Noor Purwanda, Eka Purwanta Purwanta Putra, Yasjudan Rastrama Putra, Yogi Prigima Putri, Amelya Rahmadani Putri, Anisa Silviana Putri, Meylinda Putri, Nadhilah Rahman, Rahma Azzalia Rahmawati, Rahmawati Rahmawaty, Rosa Ramadani, Adistia Ramadhani, Ridho Ramadhanu, Bardan Randy Joy Vantayen Rasmita, Rasmita Ratu Wardatuddihan Reza Hambali Wilman Abdulhadi Rifa’i, Rifa’i Rifqi Ali Musyaffa Rina F Risnawati, Hani Robiyanto Robiyanto Robiyanto, Robiyanto Rosiana Rosiana Safitri Safitri Salsabila, Yulisa Rifda Sanusi, Fauji Saraswati Lismawan Shinta Zahra Chaerunisa Siregar, Fernando Septony Siti Epa Hardiyanti Siti Epa Hardiyanti Siti Maimunah Sofia, Euis Nurus Soraya, Rena Sri Hartini Subowo Subowo Sujalmo, Puwardi Sulistyowati, Nofi Sultan Sunny Pangestu Sumantri Sumantri Sunartini Sunartini, Sunartini Supriadi Supriadi Suryani, Emma suudin aziz Syamsiar, Syamsiar Syarief, Mikayla Prinsara Taufandas, Maruli Terinza Thahadian, Harik Firman Titin Purnaningsih Tri Hijrah Saputro Tri Kurniasih, Amara Uki Noviana Ully Irma Maulina Hanafiah Uyun Uyun Vika Haristianti Wardani, Aristi Wawan Ichwanuddin Wawan Ichwanudin Wawan Ichwanudin Wawan Ichwanudin Wawan Ichwanudin Widigdya, Singgih Widyaningsih, Andhika Widyawati Widyawati Widyawati, Silvia Wigati, Ayu Ramadianti Retno Wijaya, Nuriman Yulisa Rifda Salsabila