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All Journal E-Jurnal Manajemen Universitas Udayana Economic Reviews Journal Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Mohamad Agus Salim Monoarfa
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Agriculture, Biological Sciences & Forestry Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences

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PERAN DIVIDEND POLICY SEBAGAI MODERASI PADA HUBUNGAN FAKTOR KEUANGAN DENGAN RETURN SAHAM Nur Alimah; Mohamad Agus Salim Monoarfa; Meriyana Franssisca Dungga
E-Jurnal Manajemen Vol 14 No 1 (2025)
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJMUNUD.2025.v14.i1.p02

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh faktor keuangan perusahaan, yang diukur melalui Firm size, Profitabilitas, dan Solvabilitas, terhadap Return Saham dengan Dividend policy sebagai variabel moderasi. Objek penelitian adalah perusahaan sektor Consumer goods yang tercatat di Bursa Efek Indonesia (BEI) selama periode 2019-2023. Kriteria sampel mencakup perusahaan yang membagikan dividen dan terdaftar di papan utama BEI. Metode penelitian menggunakan pendekatan kuantitatif dengan analisis regresi moderasi untuk menguji pengaruh langsung maupun interaksi variabel independen dan moderasi terhadap Return Saham. Analisis data dilakukan menggunakan perangkat lunak SPSS versi 25. Variabel independen dalam penelitian ini adalah Firm size, Profitabilitas, dan Solvabilitas, sedangkan Dividend policy berfungsi sebagai variabel moderasi. Hasil penelitian mengungkapkan bahwa Firm size, Profitabilitas, dan Solvabilitas berpengaruh signifikan terhadap Return Saham. Selain itu, Dividend policy terbukti memperkuat hubungan antara ketiga variabel independen dengan Return Saham, menunjukkan peran strategis kebijakan dividen dalam memaksimalkan pengembalian saham. Temuan ini memberikan kontribusi praktis bagi manajemen perusahaan dalam merumuskan kebijakan keuangan, khususnya terkait kebijakan dividen, untuk meningkatkan nilai bagi pemegang saham. Penelitian ini juga memperkaya literatur mengenai pengaruh faktor keuangan terhadap kinerja saham di sektor Consumer goods. This study aims to analyze the influence of corporate financial factors, measured through firm size, profitability, and solvency, on Stock Return with Dividend policy as a moderation variable. The object of the research is companies in the consumer goods sector listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period. The sample criteria include companies that distribute dividends and are listed on the IDX's main board. The research method uses a quantitative approach with moderation regression analysis to test the direct influence and interaction of independent variables and moderation on Stock Returns. Data analysis was carried out using SPSS version 25 software. The independent variables in this study are firm size, profitability, and solvency, while Dividend policy functions as a moderation variable. The results of the study revealed that firm size, profitability, and solvency have a significant effect on Stock Returns. In addition, dividend policy has been proven to strengthen the relationship between the three independent variables and stock returns, demonstrating the strategic role of dividend policy in maximizing stock returns. These findings make a practical contribution to the company's management in formulating financial policies, especially related to dividend policies, to increase value for shareholders.
Analisis Perbedaan Return Saham, Abnormal Return, Harga Saham, dan Volume Perdagangan Saham di Masa Pandemi Covid-19: Studi Kasus pada Perusahaan Sektor Industri Transportasi yang Terdaftar di Bursa Efek Indonesia Periode 2019-2022 Dela Puspita Mantulangi; Mohamad Agus Salim Monoarfa; Meriyana Franssisca Dungga
Economic Reviews Journal Vol. 3 No. 1 (2024): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v3i1.163

Abstract

This study aimed to determine any significant difference between stock returns , abnormal returns , stock prices , and stock trading volumes before and after the COVID - 19 pandemic in transportation sector companies listed on the Indonesia Stock Exchange . This research used secondary data with descriptive analysis and quantitative analysis methods . Data analysis in this study used the Wilcoxon signed - rank test , and the data for this study were collected two years before ( 2019-2020 ) and two years after ( 2021-2022 ) the COVID - 19 pandemic in Indonesia . The results show no significant difference in stock returns and stock prices . However , there is a significant difference in abnormal returns and stock trading volumes before and after the COVID -
Pengaruh Leverage Terhadap Pertumbuhan Laba pada Perusahaan Manufaktur Sektor industri Dasar Kimia yang Terdaftar di Bursa Efek Indonesia Periode 2018-2022 Melda A. Kasira; Srie Isnawaty Pakaya; Mohamad Agus Salim Monoarfa
Economic Reviews Journal Vol. 3 No. 3 (2024): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v3i3.265

Abstract

This research aimed to determine the influence of Debt To Equity Ratio and Debt To Asset Ratio on Profit Growth in the Basic Industry and Chemical Sectors Listed on the Indonesian Stock Exchange in 2018-2022. The research samples were selected through purposive sampling, where 41 companies met the requirements as samples. The analytical test tool used to test this research was multiple linear regression. The data analysis applied the SPSS 27 application. The research findings indicated that the Debt To Equity Ratio (DER) influenced profit growth negatively, and Debt To Asset Ratio (DAR) influenced profit growth positively. In the meantime, simultaneously, the Debt To Equity Ratio (DER) and Debt To Asset Ratio (DAR) influenced profit growth.
Mengukur Kinerja Perusahaan: Peran Firm Size sebagai Variabel Moderasi antara Current Ratio, Total Asset Turnover dan Firm Value Hamdana; Mohamad Agus Salim Monoarfa; Meriyana Franssisca Dungga
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 6 No. 6 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah (in Press)
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i6.2117

Abstract

This research aims to determine how the effect of Current Ratio (CR) and Total Asset Turover (TATO) on Firm Value, in this case the Share Price with Firm Size as a Moderating Variable (Case Study of Food and Beverage Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange for the Period 2018-2022). The samples, that are 20 food and beverage sub-sector manufacturing companies, are determined through purposive sampling,. The data collection technique in this study uses secondary data obtained from financial statement data published by the Food and Beverage sub-sector manufacturing companies on the Indonesia Stock Exchange (IDX). Then, the data are analyzed using Multiple Regression Analysis and Moderation Regression Analysis methods assisted by the SPSS 16 software.The results showed that partially, Current Ratio significantly affects the Share Price, while Total Asset Turnover does not affect the Share Price. Then, Current Ratio and Total Asset Turnover simultaneously significantly affect Share Price.However, Current Ratio does not affect the Share Price moderated by Firm Size and Total Asset Turnover does not affect the Share Price moderated by Firm Size.
Strategi Insentif dan Sanksi dalam Meningkatkan Kinerja Pegawai di Lingkungan Kantor Wilayah Kementerian Hukum dan Hak Asasi Manusia Provinsi Gorontalo Thantri Bakari; Andi Yusniar Mendo; Mohamad Agus Salim Monoarfa
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 6 No. 8 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i8.2201

Abstract

This study examines how reward and punishment affect employee performance in the Regional Office of the Ministry of Law and Human Rights of Gorontalo Province. Data collection techniques in this study used a questionnaire with a population of all Civil Servants (PNS) at the Regional Office of the Ministry of Law and Human Rights Gorontalo, with as many as 121 employees. The sampling used probability sampling, with a sample size of 93 respondents, through the Slovin formula. Data analysis techniques used multiple linear regression analysis model via SPSS 26 application.According to the multiple regression analysis tests, it was found that the simultaneous results of the reward and punishment variables affect performance. This result is evidenced by the percentage of the performance variable of 32,5%, while the remaining 67,5% is affected by other variables not examined and explained in this study.
Co-Authors Andi Yusniar Mendo Dela Puspita Mantulangi Dungga, Meriyana Fransisca Hamdana Melda A. Kasira Nur Alimah Srie Isnawaty Pakaya Thantri Bakari