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All Journal Reviu Akuntansi dan Bisnis Indonesia Media Akuntansi Perpajakan
Tambunan, Rupianna
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Economics, Econometrics & Finance Social Sciences

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Pengaruh Kebijakan Dividen dan Kinerja Keuangan Terhadap Nilai Perusahaan Pada Perusahaan LQ-45 Tahun 2023-2024 Tambunan, Rupianna
Media Akuntansi Perpajakan Vol 10, No 1 (2025): Media Akuntansi Perpajakan
Publisher : Universitas 17 Agustus 1945 Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52447/map.v10i1.8363

Abstract

This study aims to analyze the effect of dividend policy and financial performance on firm value in companies listed on the LQ45 Index of the Indonesia Stock Exchange during the 2023–2024 period. This research employs a quantitative approach using secondary data obtained from financial statements and annual reports of the companies. The sample consists of 36 companies selected from a total population of 90 companies using purposive sampling based on specific criteria relevant to the research objectives. Firm value is measured using the Tobin’s Q ratio, dividend policy is measured using the Dividend Payout Ratio, and financial performance is measured using Return on Equity (ROE). Hypothesis testing is conducted using a panel data linear regression model with the assistance of E-Views version 12 software. The results of the study indicate that dividend policy has a positive and significant effect on firm value, as does financial performance, which also shows a positive and significant effect on firm value. These findings suggest that consistent dividend distribution policies and strong financial performance are important factors in enhancing investor perceptions of firm value in the capital market. This research provides implications for company management and investors in making strategic decisions related to financial and investment policies.
Pengaruh Growth Option dan Green Intellectual Capital Terhadap Sustainability Performance Tambunan, Rupianna
Media Akuntansi Perpajakan Vol 10, No 2 (2025): Media Akuntansi Perpajakan
Publisher : Universitas 17 Agustus 1945 Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52447/map.v10i2.8885

Abstract

This study aims to analyze the influence of Growth Option and Green Intellectual Capital on Sustainability Performance in companies listed in the SRI-KEHATI Index on the Indonesia Stock Exchange. The approach used is quantitative with panel data regression analysis method, and data processing is done using Eviews-12 software. The research sample consists of 25 companies selected through a purposive sampling method with the criteria of companies that are consistently listed in the SRI-KEHATI Index during the observation period. The data used are secondary data obtained from the annual report and sustainability report of each company. The results of the study indicate that Growth Option has no effect on Sustainability Performance, which means that the company's growth opportunities have not been followed by an increase in commitment to sustainability aspects. In contrast, Green Intellectual Capital has a positive and significant effect on Sustainability Performance, which indicates that environmentally oriented management of knowledge, skills, and innovation can improve the company's sustainability performance.
Fleksibilitas Keuangan, Peluang Investasi dan Nilai Perusahaan: Peran Working Capital Management Kholid, Arif Wahyu Nur; Tambunan, Rupianna; Septiyani, Herlin
Reviu Akuntansi dan Bisnis Indonesia Vol. 10 No. 2 (2026): REVIU AKUNTANSI DAN BISNIS INDONESIA
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/rabin.v10i2.33057

Abstract

Latar belakang: Nilai perusahaan dipengaruhi oleh kemampuan perusahaan dalam mengelola sumber pendanaan dan memanfaatkan peluang investasi. Namun, penelitian terdahulu menunjukkan hasil yang belum konsisten mengenai pengaruh fleksibilitas keuangan dan investment opportunity set terhadap nilai perusahaan. Kondisi ini menunjukkan perlunya mempertimbangkan working capital management sebagai mekanisme yang dapat memengaruhi hubungan tersebut. Tujuan: Penelitian ini bertujuan menguji pengaruh fleksibilitas keuangan dan investment opportunity set terhadap nilai perusahaan serta menganalisis peran working capital management dalam memoderasi kedua hubungan tersebut Metode Penelitian: Penelitian menggunakan pendekatan kuantitatif dengan data sekunder perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2021–2024. Sampel ditentukan melalui purposive sampling dan menghasilkan 218 perusahaan dengan 872 observasi. Pengujian dilakukan menggunakan regresi data panel dan moderated regression analysis dengan EViews 14. Hasil uji Chow dan Hausman menetapkan fixed effect model sebagai model estimasi. Hasil Penelitian: Fleksibilitas keuangan yang diproksikan dengan retained earnings terhadap total aset berpengaruh negatif terhadap nilai perusahaan. Investment opportunity dan working capital management tidak berpengaruh langsung secara signifikan terhadap nilai perusahaan. Namun, working capital management mampu memperlemah pengaruh negatif fleksibilitas keuangan dan memperkuat pengaruh investment opportunity terhadap nilai perusahaan pada tingkat signifikansi 10%. Keaslian/Kebaruan Penelitian: Penelitian ini menempatkan working capital management sebagai mekanisme moderasi yang menghubungkan kapasitas pendanaan internal dan peluang investasi dengan nilai perusahaan. Temuan menunjukkan bahwa penciptaan nilai tidak hanya bergantung pada ketersediaan sumber daya dan peluang investasi, tetapi juga pada efisiensi pengelolaan modal kerja yang mendukung pemanfaatan sumber daya tersebut.
Co-Authors Arif Wahyu Nur Kholid Septiyani, Herlin