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The Role of Capital Structure in Mediating the Effect of Liquidity on Profitability Astina Tinus; Bambang Mahmudi; Enok Nurhayati
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 3 (2024)
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i3.205

Abstract

The objective of this study is to assess the impact of the Current Ratio (CR) on the Net Profit Margin (NPM), with the Debt-to-Equity Ratio (DER) and Debt-to-Asset Ratio (DAR) serving as intervening variables. This research was conducted due to certain business phenomena that became the focal point of investigation, discrepancies between empirical data and existing theories, and gaps in previous studies that prompted the need for further exploration. This study employs a quantitative research approach, utilizing data collection techniques based on company financial reports through documentation methods. The population of this study comprises all companies listed and consistently included in the Business-27 Index on the Indonesia Stock Exchange (IDX) from 2013 to 2022. A total of 6 companies were selected as samples from the 27 companies available, using purposive sampling methods. Path analysis and the Sobel test were utilized as data analysis techniques in this research. The findings of this study indicate that the CR does not have a significant impact on NPM. However, CR has a negative and significant effect on both DER and DAR. Furthermore, DER and DAR do not have a significant influence on NPM. While DER cannot mediate the relationship between CR and NPM, DAR can mediate this relationship.
The Effect of Profitability on Company Value with Dividend Policy as an Intervening Variable Maria Lorensia; Bambang Mahmudi; Enok Nurhayati
Indonesian Journal of Innovation Multidisipliner Research Vol. 3 No. 1 (2025)
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v3i1.326

Abstract

His research aims to determine the effect of return on assets on firm value through the mediation of dividend payout, while controlling for firm size. This study was conducted due to the presence of business phenomena related to the research topic, inconsistencies between empirical data calculations and theoretical reviews, as well as inconsistencies in previous research, which created a research gap. The study uses a quantitative research approach, with data collected through documentation techniques from company financial reports. The population in this research consists of all companies listed and remaining on the SRI-KEHAI Index of the Indonesia Stock Exchange during the 2013-2022 period. The sample size is 9 companies out of a total population of 30, selected using purposive sampling. The data analysis techniques used in this study are path analysis and the Sobel test. The findings of the study show that: Profitability (ROA) affects firm value (PBV), Dividend policy (DPR) does not affect firm value (PBV), Dividend policy (DPR) affects firm value (PBV), Dividend policy (DPR) fails to mediate the relationship between profitability (ROA) and firm value (PBV), and The instability of the results with the control variable of firm size shows no significant impact on the findings.
The Mediating Role of Dividend Policy in the Influence of Profitability on Firm Value Hafidz Izzul Haq; Bambang Mahmudi; Abdul Rosyid
Indonesian Journal of Innovation Multidisipliner Research Vol. 3 No. 1 (2025)
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v3i1.334

Abstract

This study aims to empirically test the effect of profitability on firm value through dividend policy as an intervening variable in raw material sector companies listed on the Indonesia Stock Exchange for the period 2013-2023. The study was conducted because there was a business phenomenon in the research topic, inconsistency of empirical data calculation results with theoretical studies, and inconsistency of previous studies that caused a research gap. The research topic is Firm Value which reflects the present value of expected future income. The dividend policy variable is proxied using the Dividend Payout Ratio (DPR). Profitability is proxied by Return on Assets (ROA), and Firm Value using Price to Book Value (PBV). This research is a type of quantitative research with data collection techniques using documentation techniques derived from the company's financial statements. The research population is a raw material industry sector company with a research period of 11 years. The data analysis technique used in the study is Panel Data Regression and Sobel Test using the Eviews version 12 application with the processed data in the form of panel data. The study shows that profitability does not have a significant effect on firm value, but dividend policy has a negative and significant effect on firm value. The dividend policy variable has a positive and significant effect on firm value. Then, dividend policy is able to mediate the influence of profitability on company value.
The Role of Capital Structure in Mediating the Effect of Liquidity on Profitability Astina Tinus; Bambang Mahmudi; Enok Nurhayati
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 3 (2024)
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i3.205

Abstract

The objective of this study is to assess the impact of the Current Ratio (CR) on the Net Profit Margin (NPM), with the Debt-to-Equity Ratio (DER) and Debt-to-Asset Ratio (DAR) serving as intervening variables. This research was conducted due to certain business phenomena that became the focal point of investigation, discrepancies between empirical data and existing theories, and gaps in previous studies that prompted the need for further exploration. This study employs a quantitative research approach, utilizing data collection techniques based on company financial reports through documentation methods. The population of this study comprises all companies listed and consistently included in the Business-27 Index on the Indonesia Stock Exchange (IDX) from 2013 to 2022. A total of 6 companies were selected as samples from the 27 companies available, using purposive sampling methods. Path analysis and the Sobel test were utilized as data analysis techniques in this research. The findings of this study indicate that the CR does not have a significant impact on NPM. However, CR has a negative and significant effect on both DER and DAR. Furthermore, DER and DAR do not have a significant influence on NPM. While DER cannot mediate the relationship between CR and NPM, DAR can mediate this relationship.
The Effect of Profitability on Company Value with Dividend Policy as an Intervening Variable Maria Lorensia; Bambang Mahmudi; Enok Nurhayati
Indonesian Journal of Innovation Multidisipliner Research Vol. 3 No. 1 (2025)
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v3i1.326

Abstract

His research aims to determine the effect of return on assets on firm value through the mediation of dividend payout, while controlling for firm size. This study was conducted due to the presence of business phenomena related to the research topic, inconsistencies between empirical data calculations and theoretical reviews, as well as inconsistencies in previous research, which created a research gap. The study uses a quantitative research approach, with data collected through documentation techniques from company financial reports. The population in this research consists of all companies listed and remaining on the SRI-KEHAI Index of the Indonesia Stock Exchange during the 2013-2022 period. The sample size is 9 companies out of a total population of 30, selected using purposive sampling. The data analysis techniques used in this study are path analysis and the Sobel test. The findings of the study show that: Profitability (ROA) affects firm value (PBV), Dividend policy (DPR) does not affect firm value (PBV), Dividend policy (DPR) affects firm value (PBV), Dividend policy (DPR) fails to mediate the relationship between profitability (ROA) and firm value (PBV), and The instability of the results with the control variable of firm size shows no significant impact on the findings.
The Mediating Role of Dividend Policy in the Influence of Profitability on Firm Value Hafidz Izzul Haq; Bambang Mahmudi; Abdul Rosyid
Indonesian Journal of Innovation Multidisipliner Research Vol. 3 No. 1 (2025)
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v3i1.334

Abstract

This study aims to empirically test the effect of profitability on firm value through dividend policy as an intervening variable in raw material sector companies listed on the Indonesia Stock Exchange for the period 2013-2023. The study was conducted because there was a business phenomenon in the research topic, inconsistency of empirical data calculation results with theoretical studies, and inconsistency of previous studies that caused a research gap. The research topic is Firm Value which reflects the present value of expected future income. The dividend policy variable is proxied using the Dividend Payout Ratio (DPR). Profitability is proxied by Return on Assets (ROA), and Firm Value using Price to Book Value (PBV). This research is a type of quantitative research with data collection techniques using documentation techniques derived from the company's financial statements. The research population is a raw material industry sector company with a research period of 11 years. The data analysis technique used in the study is Panel Data Regression and Sobel Test using the Eviews version 12 application with the processed data in the form of panel data. The study shows that profitability does not have a significant effect on firm value, but dividend policy has a negative and significant effect on firm value. The dividend policy variable has a positive and significant effect on firm value. Then, dividend policy is able to mediate the influence of profitability on company value.