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Farah Margaretha Leon
Universitas Trisakti, Jakarta, Indonesia
Economics, Econometrics & Finance

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The Influence of Ownership Structure and Liquidity on Dividend Policy in ASEAN Banking Achmad Gibran Fachraesy; Mawjihan Tsakilla; Farah Margaretha Leon
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8148

Abstract

This research seeks to explore and critically assess the influence of ownership structure and liquidity on banking dividend policies in Indonesia, Malaysia, and Thailand. The sample consists of 25 banking companies total of 100 data points were gathered through a purposive sampling approach. The research utilizes secondary data, specifically banking annual reports from the 2020–2023 period, sourced from the Indonesia Stock Exchange, Malaysia Stock Exchange, and Thailand Stock Exchange. The analytical framework applied is multiple linear regression. The findings reveal that foreign ownership, bank performance, and leverage exert a negative influence on dividend policy, whereas institutional ownership, liquidity, and bank age do not demonstrate a statistically significant impact on dividend policy, as reflected in dividend yield and dividend payout ratio . The findings also indicate that institutional ownership negatively affects dividend policy when measured by dividend yield. This research is expected to benefit financial managers and investors in decision-making. For financial managers, insights into the influence of ownership structure on dividend policy can assist in designing financial strategies, managing liquidity, and determining dividend distribution. Meanwhile, for investors, this information serves as a basis for making more informed investment decisions.
Determinants of Stock Prices Infrastructure on the Indonesia Stock Exchange Rizki Malik Fajar; Ardono Sepdantyo Yudo; Farah Margaretha Leon
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8227

Abstract

This study examines the relationship between a company's financial condition and the value of its shares in the market. The focus is on infrastructure sector companies in Indonesia listed on the stock exchange for the last three years (2021-2024). Similar studies use certain common financial variables, but this study tries a new approach by adding two additional variables, namely ROA (which reflects the efficiency of the company in generating profits from its assets) and company size (which describes the scale or size of the company). The aim is to see whether these two variables have a significant influence on the value of shares in the market. Using a quantitative approach and purposive sampling, the research gathered 172 observations from 43 companies. Panel data regression (cross-section and time-series) was applied through statistical software. This study found that several financial indicators such as EPS, NAVPS, and PER support that a significant and positive influence on stock prices. However, ROA in infrastructure companies in this study period, was not statistically proven to significantly affect stock prices. These findings highlight that not all financial indicators equally reflect market perceptions, particularly in capital-intensive and regulation-sensitive sectors like infrastructure. The study advises financial managers to enhance key indicators such as EPS, NAVPS, and PER to attract investors and boost firm value. For investors, the research offers guidance on which financial indicators to prioritize when evaluating stock prospects, while also cautioning that some metrics, like ROA, may not reliably predict price movements.
Digital Transformation and Green Credit: Strategic Implications for Bank Profitability Grecia Alvionita Simanjorang; Febria Nalurita; Farah Margaretha Leon
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study seeks to examine the impact of non-performing loans, the loan-to-deposit ratio, green credit, and digitalisation on the profitability of Indonesia's banking system, while considering bank size and bank age as control factors. This research is distinctive due to its incorporation of green credit and digitalisation in response to the increasing significance of sustainability and technical advancement in the financial sector. This study utilises secondary data obtained from the annual reports of banking firms listed on the Indonesia Stock Exchange (IDX) for the years 2019 to 2024. The sample was chosen by a purposive sampling technique. The investigation utilised imbalanced panel data regression with a fixed effects model, leveraging EViews 9 software. The findings demonstrate that non-performing loans adversely and significantly impact profitability, while the loan-to-deposit ratio positively and significantly influences profitability. Additionally, green credit exerts a positive and significant effect on profitability, and both bank size and bank age as control variables significantly affect profitability. In contrast, digitalisation exerts no substantial influence on profitability. The findings underscore the necessity for banks to adeptly manage credit risk and optimise digital transformation to improve financial performance, alongside the vital role of government in fostering and developing green credit programs.
Co-Authors Achmad Gibran Fachraesy Ardono Sepdantyo Yudo Febria Nalurita Grecia Alvionita Simanjorang Mawjihan Tsakilla Rizki Malik Fajar