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Pengaruh Kepemilikan Manajerial, Dewan Direksi, Kebijakan Dividen, dan Ukuran Perusahaan Terhadap Kinerja Keuangan (Studi Kasus Sektor Infastruktur Bumn di BEI Tahun 2020-2024) Tarigan, Liza Zamili; Asnahwati
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): November: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

Financial performance as a determination of certain measures that can measure the success of a company in generating profits The assessment of a company's financial performance must be based on published financial data made in accordance with generally accepted financial accounting principles. The population used in this study is the population of state-owned enterprise infrastructure sub-sector companies that published complete financial reports for the period 2020 - 2024, totaling 8 companies listed on the Indonesia Stock Exchange. The sampling technique used in this study is the purposive sampling method, so the sample used in this study in state-owned enterprise infrastructure sub-sector companies that meet the criteria is 8 companies multiplied by the length of years, namely 5 years, so that the number of observations in this study is 40 observations. Based on the research conducted, partially Managerial Ownership and the Board of Directors do not have a negative and significant effect on financial performance, Dividend Policy, and Company Size have a significant effect on Financial Performance. Based on the results of the simultaneous test, Managerial Ownership (X1), Board of Directors (X2), Dividend Policy (X3) and Company Size (X4) on Financial Performance (Y) have a simultaneous effect.
Pengaruh Working Capital Turnover, Total Asset Turnover, dan Capital Intensity Terhadap Profit Growth Pada Sub Sektor Makanan & Minuman Yang Terdaftar di BEI Tahun (2020-2024) Giawa, Elisabet; Asnahwati
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): November: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

This study aims to analyze the effect of Working Capital Turnover (WCT), Total Asset Turnover (TATO), and Capital Intensity (CI) on profit growth in the food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2020–2024. Profit growth is a crucial indicator of a company’s financial performance and is influenced by various operational and resource efficiency factors. The research employs a quantitative method using multiple linear regression analysis. The data used are secondary data obtained from the annual financial reports of food and beverage sub-sector companies listed on the IDX. Hypotheses were tested both partially (t-test) and simultaneously (F-test) with a significance level of 5%. The results show that Working Capital Turnover (WCT) has a positive and significant partial effect on profit growth. Total Asset Turnover (TATO), however, does not have a positive and significant effect. In contrast, Capital Intensity (CI) has a negative and significant partial effect on profit growth. Simultaneously, all three independent variables have a positive and significant influence on the profit growth of the companies. These findings highlight the importance of efficient working capital management in enhancing profitability, as well as the need to evaluate asset structure and capital investment policies to avoid a decline in financial performance. Therefore, companies are advised to develop integrated financial strategies to support sustainable profit growth.
Pengaruh Investment Opportunity Set, Dividend Payout Ratio, dan Sales Growth Terhadap firm Value Pada Sub Sektor Makanan dan Minuman Yang Terdaftar di Bei Tahun 2020-2024 Febriani, Fanny; Asnahwati
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): November: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

This study aims to analyze the influence of Investment Opportunity Set (IOS), Dividend Payout Ratio, and Sales Growth on Firm Value for companies in the food and beverage subsector listed on the Indonesia Stock Exchange (IDX) during the 2020-2024 period. The research employs a quantitative approach using multiple linear regression. The research sample was selected using a purposive sampling method, and the data used were the companies' annual financial reports. The hypothesis testing results show that, individually, the three independent variables have no significant effect on Firm Value. The partial test (t- test) proved that IOS has no significant influence on firm value. Similarly, the Dividend Payout Ratio and Sales Growth were also not found to have a significant effect. Furthermore, the simultaneous test (F-test) confirmed that, collectively, these three variables also do not have a significant influence on Firm Value. The low Adjusted R-squared value indicates that only a small portion of the variation in firm value can be explained by this model, while the remaining 92.1% is explained by other variables outside the model. This study's conclusion rejects the initial hypotheses and suggests that other factors play a more dominant role in determining firm value within this subsector.
Pengaruh Kualitas Laba, Kebijakan Dividen, dan Cash Holdings Terhadap Kinerja Keuangan Pada Sektor Energi Yang Terdaftar di Bei Tahun 2020-2024 Safira, Diana; Asnahwati
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): November: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

This study analyzes the influence of Profit Quality, Dividend Policy, and Cash Holdings on Financial Performance of energy sector companies. Using a quantitative approach with regression analysis, this research aims to test for partial and simultaneous relationships. The results of the partial tests show significant findings. Profit Quality has a negative and significant effect on Financial Performance (t-statistic = -93.373; sig = 0.000), indicating that lower profit quality can harm performance. Similarly, Dividend Policy has a negative and significant effect (t-statistic = -43.320; sig = 0.000), implying that higher dividend payouts can reduce funds for investment and negatively impact performance. In contrast, Cash Holdings have a positive and significant effect (t-statistic = 94.891; sig = 0.000), demonstrating that higher cash reserves can improve financial performance. Simultaneously, the three variables combined have a significant influence on Financial Performance (sig = 0.000). The research model is considered a good fit, with very high predictive power. This conclusion affirms that Profit Quality, Dividend Policy, and Cash Holdings are crucial factors that collectively influence financial performance in the energy sector.