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All Journal Jurnal Maneksi (Management Ekonomi Dan Akuntansi) INVEST : Jurnal Inovasi Bisnis dan Akuntansi
Bura, Manggalawati Tande
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN Patty, Maria Apriyane; Bura, Manggalawati Tande; Karubaba, Christine Jois
Jurnal Maneksi (Management Ekonomi Dan Akuntansi) Vol. 14 No. 4 (2025): Jurnal Maneksi (Management Ekonomi Dan Akuntansi)
Publisher : Politeknik Negeri Ambon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31959/jm.v14i4.3591

Abstract

Introduction: Firm value serves as a key indicator of a company’s ability to generate wealth for its shareholders and stakeholders. This study aims to analyse the effect of capital structure and profitability on firm value in Indonesian manufacturing companies. Methods: This quantitative research, employing an explanatory design, utilises the library method and panel data regression analysis, with a fixed effects model, on a sample of 85 manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2023 period, resulting in 425 observations. Independent variables include capital structure proxied by the equity ratio, and profitability measured through return on assets and return on equity. In contrast, the dependent variable is firm value, represented by the price-to-book value and Tobin’s Q. Results: Research findings indicate that the equity ratio has a positive and significant effect on firm value, with a coefficient of 0.287 and a p-value of 0.001, supporting the trade-off theory. The return on assets shows a positive and significant effect, with a coefficient of 4.567 and a p-value of 0.000. In contrast, the return on equity demonstrates a positive and significant effect, with a coefficient of 2.145 and a p-value of 0.002. The research model has an R-squared of 0.7234, indicating that 72.34 % of firm value variation can be explained by capital structure and profitability. Conclusion: The findings confirm that capital structure optimisation and profitability enhancement through operational efficiency constitute fundamental strategies for creating firm value for stakeholders in Indonesia's manufacturing sector. Keywords: Capital Structure, Profitability, Firm Value, Manufacturing Companies, Indonesia Stock Exchange
Evaluating the Role of Accounting Information Systems in Enhancing Village Financial Governance: a Study From Jayapura City Siahay, Adolf Z D.; Allolayuk, Theo; Bura, Manggalawati Tande
INVEST : Jurnal Inovasi Bisnis dan Akuntansi Vol. 7 No. 1 (2026): INVEST : Jurnal Inovasi Bisnis dan Akuntansi
Publisher : Lembaga Riset dan Inovasi Al-Matani

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55583/invest.v7i1.2088

Abstract

This study aims to evaluate the role of Accounting Information Systems (AIS) in improving the effectiveness, transparency, and accountability of village financial management in Jayapura City. The main issues raised are the weak financial management of villages, limited human resource capacity, and the uneven implementation of AIS across villages. This study uses a mixed methods approach, combining qualitative interviews with village officials and quantitative analysis of the effectiveness ratio of village expenditure realisation for 2020–2024. Qualitative results show that most villages have implemented SIA based on Siskeudes, which has improved recording accuracy and administrative efficiency, although there are variations due to differences in training, infrastructure, and socio-cultural factors. Quantitative analysis shows that the average expenditure realisation exceeds 90% in most villages, reflecting a high level of financial management effectiveness. However, spending priorities are still dominated by administrative and physical development expenditures, with low allocations for community empowerment. The results of this study emphasise the importance of increasing the capacity of the apparatus, preparing a balanced budget, and providing stronger regulatory support in order to optimise the implementation of the SIA and encourage sustainable village development.
Co-Authors Karubaba, Christine Jois Patty, Maria Apriyane Siahay, Adolf Z D. Theo Allo Layuk