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Financial Performance Analysis of PT. Tjiwi Kimia Tbk. and PT. Indah Kiat Pulp & Paper Tbk. Ramadhan, Yanuar; Fauzan, Alfian Kurnia; Rosianwar, Ajeng Kusuma; Metyasari, Dewi
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 7 No 3 (2024): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v7i3.5354

Abstract

This research was prepared to obtain an analysis and compare the financial performance of two large issuing companies in the pulp and paper industry, namely PT. Tjiwi Kimia Tbk. and PT. Indah Kiat Pulp & Paper Tbk. by using the 2022 and 2023 financial reports as a data source. The method used is financial ratio analysis which includes liquidity, solvency, and profitability ratios. Based on the results of an in-depth study, it can be stated that PT. Indah Kiat Pulp & Paper Tbk. has better performance in terms of liquidity with a current ratio of 2.65 in 2023, compared to PT. Tjiwi Kimia which has a current ratio of 1.24. However, in terms of solvency, PT. Tjiwi Kimia has a lower debt-to-equity ratio (DER), namely 0.51 times compared to PT Indah Kiat of 0.69 times, indicating that PT Tjiwi Kimia's financial risk is relatively smaller. In terms of profitability, both companies are seen to have proven positive performance. PT Indah Kiat's net profit margin in 2023 will be 11% with an ROE of 14.6%, while PT Tjiwi Kimia posted a net profit margin of 8.7% with an ROE of 13.6%. However, both PT Indah Kiat and PT Tjiwi Kimia still need to improve operational efficiency and manage financial risks prudently, especially regarding debt management.
The Influence of Green Banking Practices on Customer Satisfaction: The Role of Privacy Fauzan, Alfian Kurnia; Safuan, Safuan; Syah, Tantri Yanuar Rahmat; Edastama, Primasatria
Community Engagement and Emergence Journal (CEEJ) Vol. 7 No. 3 (2026): Community Engagement & Emergence Journal (CEEJ)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ceej.v7i3.10482

Abstract

Green banking has become a strategic imperative for financial institutions worldwide, but emerging markets face a unique challenge: balancing sustainability commitments with customer trust in data security. This study examines how privacy protection strengthens the relationship between green banking practices and customer satisfaction in Indonesia's digital banking sector. Using structural equation modeling with 313 users of green banking services in state-owned banks, the study found that privacy acts as a critical mediating factor, amplifying customer satisfaction, which in turn drives customer trust, loyalty, and continued adoption of green financial services. The implications go beyond regulatory compliance to reveal how banks can differentiate themselves competitively through integrated sustainability and privacy governance. This "trust-based" model is increasingly essential for emerging markets facing digital transformation alongside environmental commitments. Our findings suggest that customer satisfaction serves as a key driver of long-term behavioural change towards green finance adoption, indicating that business profitability and societal environmental goals are complementary rather than contradictory objectives for banks in emerging markets.