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All Journal International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Journal of Economics, Management, Development, and Education
Maulana Majied Sumatrani Saragih
Unknown Affiliation
Economics, Econometrics & Finance Education

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CONTRIBUTION OF WORKING CAPITAL MANAGEMENT AND LEVERAGE TO INCREASING VALUE OF MANUFACTURING COMPANIES AND CONJUNTURE EFFECT FROM PROFITABILITY RATIO MODEL: AN REALITY CASE STUDY IN INDONESIA STOCK EXCHANGE Jerni Duma Sari Rambe; Nova Sari Manullang; Daniel Ortega Tambunan; Mangasi Sinurat; Maulana Majied Sumatrani Saragih
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 3 No. 2 (2023): April
Publisher : CV. Radja Publika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijebas.v3i2.732

Abstract

The company is a group of people who are members of an organization who work to achieve certain goals. One of the most basic company goals is to obtain maximum profit or profit from the business activities carried out by the company. The purpose of establishing a company is not only to achieve maximum profit, but also aims to increase the prosperity of parties related to the company's business activities, such as shareholders and stakeholders so that the value of the company increases.The research method used is quantitative data method. Working Capital Management has a positive and significant effect on Firm Value, Leverage has no significant effect on Firm Value, Working Capital Management and Leverage have no simultaneous significant effect on Firm Value. Company value can be used as the basis for making investment decisions because this aspect measures the ability of the company's assets to generate a return on investment made in the company's asset instruments.
The Impact of BREN and BRMS Stocks' Entry into the MSCI Index on Company Value, Stock Liquidity, and the Attractiveness of the Indonesia Stock Exchange Maulana Majied Sumatrani Saragih; Mardiana Lestary
Journal of Economics, Management, Development, and Education Vol. 1 No. 1 (2026): Journal of Economics, Management, Development, and Education (JEMDE) edisi Febr
Publisher : Journal of Economics, Management, Development, and Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.18690512

Abstract

This study aims to analyze the impact of the inclusion of PT Barito Renewables Energy Tbk (BREN) and PT Bumi Resources Minerals Tbk (BRMS) shares in the MSCI (Morgan Stanley Capital International) index on company value, stock liquidity, and the attractiveness of the Indonesia Stock Exchange (IDX) to global investors. The research method used is a descriptive quantitative study with an event study approach and secondary data analysis in the form of market capitalization, stock prices, returns, trading volume, price-to-book value, and foreign ownership. The results show that the inclusion of BREN and BRMS in the MSCI index significantly increased company value and stock liquidity. BREN showed a more sustainable and premium increase in company value, while BRMS experienced a significant increase that was more influenced by short-term market sentiment. Furthermore, MSCI inclusion increased foreign investment flows and strengthened global market confidence in the stability and credibility of the IDX, as reflected in increased foreign ownership and market liquidity. This study confirms that the inclusion of Indonesian shares in the MSCI index not only provides benefits for companies but also strengthens the position of the domestic capital market in the global arena.
The Effect of Digital Financial Literacy, Fintech Use, and Financial Self- Efficacy on Generation Z Financial Management Behavior in Lhokseumawe Muhammad Multazam; Sutan Febriasyah; Ismuhadi; Yusnidar; Maulana Majied Sumatrani Saragih
Journal of Economics, Management, Development, and Education Vol. 1 No. 2 (2026): Journal of Economics, Management, Development, and Education (JEMDE) edisi Apri
Publisher : Journal of Economics, Management, Development, and Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.20273804

Abstract

This study examines the influence of digital financial literacy, fintech use, and financial self-efficacy on the financial management behavior of Generation Z in Lhokseumawe City. The issue is relevant because young consumers are intensive users of mobile banking, e-wallets, QRIS, paylater, and investment applications, while digital access does not always produce disciplined financial decisions. This research applies a quantitative explanatory design with a survey of Generation Z respondents who live in Lhokseumawe and use at least one fintech service. Data will be collected using a Likert-scale questionnaire and analyzed through validity testing, reliability testing, descriptive statistics, and SEM-PLS. Digital financial literacy is measured through knowledge, security awareness, risk evaluation, and the ability to compare digital financial products. Fintech use is measured through frequency, diversity, perceived usefulness, and transaction habits. Financial self-efficacy is measured through confidence in budgeting, saving, debt control, and resisting impulsive spending. The proposed model expects all independent variables to positively affect financial management behavior. This study contributes to digital financial education and youth financial policy in local urban contexts.
Co-Authors Daniel Ortega Tambunan Ismuhadi Jerni Duma Sari Rambe Mangasi Sinurat Mardiana Lestary Muhammad Multazam Nova Sari Manullang Sutan Febriasyah Yusnidar