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All Journal IIJSE Majapahit Journal of Islamic Finance dan Management JER
Susy Muchtar
Universitas Trisakti, Jakarta, Indonesia
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Pengaruh Dewan Direksi, Kepemilikan, dan Implementasi SDG terhadap Kinerja Keuangan di Sektor Konsumen Non-Siklikal Indonesia Syntia Feby Berliana; Stefani Dyah Retno Pudyanti; Henny Setyo Lestari; Susy Muchtar
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.v8i3.8396

Abstract

This study aims to analyze the effect of board characteristics, ownership attributes, and SDG implementation on corporate financial performance in Indonesia’s consumer non-cyclical sector. The research uses a quantitative approach with secondary data collected from 41 publicly listed companies between 2022 and 2024. Financial and sustainability reports were used as sources, and the data were analyzed using panel data regression. The findings reveal that female board membership and sales growth have a positive impact on long-term capital efficiency (ROCE), while board independence and institutional ownership negatively affect it. Foreign ownership significantly improves short-term profitability (ROA), while SDG implementation shows a trade-off—reducing ROA but enhancing ROCE. Leverage and firm age positively affect ROA but reduce ROCE, whereas firm size shows the opposite pattern. These results underline that governance mechanisms and corporate characteristics have mixed effects on different dimensions of financial performance. The study provides insights for corporate managers to refine governance strategies and for investors to better evaluate firm fundamentals. Future studies are encouraged to include qualitative approaches and cross-sectoral comparisons to broaden the analysis.
The Influence of Corporate Governance, Audit Quality, and Investment Decisions on Firm Performance in the Chemical Manufacturing Industry Subsector in Indonesia Risa Alex Wibowo; Muhammad Ismi Hizana; Henny Setyo Lestari; Susy Muchtar
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.v8i3.8418

Abstract

This study aimed to analyze the influence of corporate governance, audit quality, and investment decisions on the performance of manufacturing companies in the basic and chemical industries sub-sectors listed on the Indonesia Stock Exchange for the period 2020–2024. The research sample consisted of 23 companies selected using the purposive sampling method. Data were obtained from audited financial statements and annual reports, analyzed using panel data regression (FEM and REM) through the E-views 9 application, and considered the potential for endogeneity in the model. The results showed that the size of the board of directors had no effect on the company's performance, while the participation of women on the board had a significant positive influence on performance (ROA, ROE, and ROS). Board size has no effect on ROA and ROS, but has a significant negative effect on ROE. Audit quality, leverage, liquidity, fixed assets, and intangible assets had no effect on ROA and ROE, while company size had a significant positive influence on all three performance indicators. Investment decisions are proven to have no effect on the company's performance. The implication of this research is the importance of increasing regulation and supervision of corporate governance, especially in strengthening the role of women on the board of directors. The government is advised to continue to encourage good governance practices in this sector as a long-term strategy to maintain the stability and sustainability of corporate financial performance
Factors Affecting Bank Stability in Indonesia Sita Aisha Gemala; Susy Muchtar
Jurnal Economic Resource Vol. 9 No. 1 (2026): October - March
Publisher : Fakultas Ekonomi & Bisnis Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57178/jer.v9i1.1923

Abstract

This research aims to analyze the factors affecting bank stability in Indonesia. The data used in this research is secondary data on the banking sector sourced from the financial reports of companies listed on the Indonesia Stock Exchange (IDX) during the period 2019-2023. The research sample was selected using the purposive sampling method, resulting in 35 companies that are suitable for the research. The data analysis used for hypothesis testing is panel data regression analysis using the Eviews 9 program. The results of the study show that bank size and the economic cycle affect bank stability. This indicates that the larger the bank size, the more stable the bank can be in obtaining income. For the economic cycle variable, if GDP growth contributes to bank stability, it indicates management’s ability to manage risk effectively. Strict supervision and effective risk management are key to the stability of the banking system. Various factors, both internal and external, such as risk management and business strategy, significantly influence bank stability. And external (like economic cycles and government policies). By effectively managing assets and adapting to economic conditions, banks can enhance their stability and contribute to the overall stability of the financial system.
The Effect of Financial Performance on Stock Performance in the Banking Industry Listed on the Indonesia Stock Exchange Muhammad Fauzy Ismail; Susy Muchtar
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 1 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i1.741

Abstract

This research aims to gain insight into the influence of a bank's financial performance on its market performance assuming that the financial performance of an organization is the most important criterion that triggers stock price movements. The data used in this study is secondary data sourced from the annual banking report listed on the Indonesia Stock Exchange (IDX) from 2020 – 2024. The number of research samples was 29 banks with a total of 145 data that met the criteria. This study used multiple linear regression analysis on panel data to evaluate the relationship between independent and dependent variables using e-views software 9. The results of this study show that net non-performing assets and current account savings accounts have a significant negative impact on share price growth. Capital adequacy ratio, net interest margin, and liquid assets total assets have a significant positive impact. Bank size has a significant positive impact. The implications of this research can be useful for managers to evaluate financial performance and strategies that affect market perception and also investors to consider external factors such as economic conditions and market sentiment.
Co-Authors Henny Setyo Lestari Muhammad Fauzy Ismail Muhammad Ismi Hizana Risa Alex Wibowo Sita Aisha Gemala Stefani Dyah Retno Pudyanti Syntia Feby Berliana