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All Journal Journal Research of Social Science, Economics, and Management Jurnal Ar Ro'is Mandalika (Armada)
Murdiawati, Murdiawati
Unknown Affiliation
Religion Education Environmental Science Languange, Linguistic, Communication & Media Mathematics

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The Effect of Capital Structure on the Profitability of Manufacturing Companies in Indonesia Agung, Rina Asmara; Murdiawati, Murdiawati; Guswati, Guswati
Jurnal Ar Ro'is Mandalika (Armada) Vol. 5 No. 3 (2025): JURNAL AR RO'IS MANDALIKA (ARMADA)
Publisher : Institut Penelitian dan Pengembangan Mandalika Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59613/armada.v5i3.5107

Abstract

This qualitative literature review aims to examine the effect of capital structure on the profitability of manufacturing companies in Indonesia. Over recent years, the dynamic relationship between capital structure and financial performance has gained significant attention from researchers and practitioners, particularly within the context of emerging economies like Indonesia. Capital structure decisions, including the proportion of debt and equity financing, are critical as they influence not only the cost of capital but also the firm's ability to generate profits. By analyzing various studies and theories related to capital structure, this review identifies key factors such as the impact of debt levels, equity financing, and the trade-off between risk and return in determining profitability. Manufacturing companies, given their capital-intensive nature, often face unique challenges in managing these financial structures. This study specifically focuses on how these companies in Indonesia navigate such challenges in a highly competitive market. Findings from the reviewed literature suggest that a well-balanced capital structure can enhance profitability by optimizing the cost of capital and increasing the firm's operational efficiency. However, an excessive reliance on debt financing tends to elevate financial risks, potentially diminishing profitability. Moreover, industry-specific factors such as market volatility, regulatory environment, and economic conditions are highlighted as critical elements that mediate the relationship between capital structure and profitability. The contribution of this research lies in offering a comprehensive understanding of how capital structure influences the profitability of manufacturing companies in Indonesia, providing valuable insights for managers, investors, and policymakers. The review also outlines the gaps in existing research and proposes future directions for further empirical studies in this domain.
The Influence of Independence, Integrity, and Professionalism on Audit Quality With Auditor Ethics as A Moderating Variable at BPK RI West Sumatra Murdiawati, Murdiawati; Hamdani, Hamdani
Journal Research of Social Science, Economics, and Management Vol. 4 No. 7 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v4i7.777

Abstract

This study aims to examine the influence of independence, integrity, and professionalism on audit quality, with auditor ethics as a moderating variable. The study adopts a quantitative research design with survey methods. Data were collected through a validated and reliable questionnaire and analyzed using Structural Equation Modeling (SEM) based on Partial Least Squares (PLS). The population consists of 128 auditors at BPK RI, West Sumatra Regional Office, with a final sample of 122 respondents after data filtering. The results indicate that independence, integrity, and professionalism significantly influence audit quality. Furthermore, auditor ethics strengthens the relationship between integrity and audit quality, highlighting the critical role of ethics in enhancing audit outcomes. This study contributes to audit theory development by emphasizing the moderating role of auditor ethics in the relationship between integrity and audit quality. The findings also provide practical insights for BPK RI to improve financial audit quality by reinforcing ethical standards, integrity, and professionalism among auditors.
Co-Authors Agung, Rina Asmara Guswati, Guswati Hamdani Hamdani