Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
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This Author published in this journals
All Journal Journal of Multidisciplinary Science: MIKAILALSYS International Journal of Economics, Business and Innovation Research
Argianov Ramadhan
Unknown Affiliation
Agriculture, Biological Sciences & Forestry Chemical Engineering, Chemistry & Bioengineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Physics Social Sciences Other

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Financial Performance and Company Value: Systematic Literature Review Argianov Ramadhan; Enggar Diah Puspa Asum; Wiralestari
International Journal of Economics, Business and Innovation Research Vol. 4 No. 06 (2025): October- November, International Journal of Economics, Business and Innovation
Publisher : Cita konsultindo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63922/ijebir.v4i06.2580

Abstract

This article aims to conduct a systematic literature review of empirical and theoretical studies in the last five years (2020–2024) which discuss the relationship between financial performance and company value in various countries. This research summarizes the most commonly used financial performance indicators, such as ROA, ROE, EPS, and NPM, and evaluates their contribution to company value. In addition, this article analyzes the consistency and variation of research results based on methodology, geographic location, industry type, and theoretical approaches such as signal, agency, and stakeholder theory. The literature selection process is carried out through leading databases (Scopus, Web of Science, Pro Quest) with certain inclusion criteria. The results of the review show that internal factors such as CSR, ESG, green innovation, and risk management generally have a positive influence on company performance and value, depending on the context in which they are applied. It is hoped that this article will become a critical and useful reference for future researchers in developing similar studies.
The Influence of Government Size, Intergovernmental Transfers, Regional Expenditure, and Audit Findings on Local Government Financial Performance in Indonesia Argianov Ramadhan; Sri Rahayu; Rico Wijaya Z
Journal of Multidisciplinary Science: MIKAILALSYS Vol 4 No 2 (2026): Journal of Multidisciplinary Science: MIKAILALSYS
Publisher : Darul Yasin Al Sys

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58578/mikailalsys.v4i2.10580

Abstract

Local government financial performance is a key indicator for evaluating the success of regional autonomy and the effectiveness of public financial management. However, disparities in financial performance across Indonesian provinces reflect differences in fiscal capacity and the quality of regional financial governance. This study aims to analyze the effects of government size, intergovernmental transfers, regional expenditure, and audit findings on local government financial performance in Indonesia. A quantitative approach was employed using secondary data obtained from the Audit Reports of the Supreme Audit Board of the Republic of Indonesia for the 2022–2024 period. The sample comprised 34 provincial governments selected through purposive sampling, yielding 102 observations. Data were analyzed using panel data regression with EViews 13. The findings reveal that government size and regional expenditure have a significant negative effect on local government financial performance. In contrast, intergovernmental transfers have a significant positive effect, while audit findings have no significant effect. These results indicate that effective resource management and fiscal capacity play a more decisive role in strengthening financial performance than asset magnitude or the number of audit findings. This study contributes to public sector financial management literature by providing empirical evidence on the determinants of provincial financial performance in Indonesia. The practical implications emphasize the need to optimize asset management, utilize intergovernmental transfers effectively, and allocate regional expenditure toward more productive activities to improve financial performance and strengthen local fiscal independence.
Co-Authors Enggar Diah Puspa Asum Rico Wijaya Z SRI RAHAYU Wiralestari