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All Journal EL-MUHASABA Journal of Economics and Social Sciences
Rony Wardhana
Universitas Telkom
Agriculture, Biological Sciences & Forestry Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Materials Science & Nanotechnology Social Sciences

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The Effect of Cash Turnover and Receivables Turnover on Profitability in Pharmaceutical Companies Nastiti Rizky Shiyammurti; Jejen Jaenudin; Rony Wardhana; Budi Prasetiyo; Esti Popi Marceline Zai
Journal of Economics and Social Sciences (JESS) Vol. 4 No. 2 (2025): Journal of Economics and Social Sciences (JESS)
Publisher : CV. Civiliza Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59525/jess.v4i2.1206

Abstract

Profitability is measured using Return on Assets (ROA) as an indicator of the company's ability to generate profits from total assets owned. Cash turnover shows how efficiently the company manages cash flow in its operations, while receivables turnover shows the company's ability to collect receivables from customers.This study aims to determine the effect of cash turnover and receivables turnover on profitability in pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during the 2018–2021 period. The research method used is a quantitative method with a descriptive and verification approach. Data were obtained from annual financial reports published by pharmaceutical companies that met the sample criteria. The analysis techniques used include multiple linear regression analysis, classical assumption tests, t-tests for partial testing, and F-tests for simultaneous testing with the help of the SPSS application. The results of the study indicate that cash turnover has a significant effect on profitability, and receivables turnover has a significant effect. Simultaneously, cash turnover and receivables turnover have a significant effect on profitability. This finding confirms the importance of efficient cash and receivables management in supporting the financial performance of pharmaceutical companies.
The Influence of Profitability and Corporate Social Responsibility on Company Value Nastiti Rizky Shiyammurti; Jejen Jaenudin; Budi Prasetiyo; Rony Wardhana; Hera Nurfaidah
Journal of Economics and Social Sciences (JESS) Vol. 4 No. 2 (2025): Journal of Economics and Social Sciences (JESS)
Publisher : CV. Civiliza Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59525/jess.v4i2.1222

Abstract

This study aims to test and analyze the influence of profitability and corporate social responsibility (CSR) on the value of companies in State-Owned Enterprises (SOEs) listed on the Indonesia Stock Exchange (IDX) during the period 2018–2024. Profitability in this study was proxied by Return on Assets (ROA), while corporate social responsibility was measured using the Corporate Social Disclosure Index (CSDI). This study uses a quantitative approach with secondary data obtained from the company's financial statements and annual reports. The research sample consisted of 20 state-owned companies selected through purposive sampling techniques. The analysis method used was multiple linear regression with a significance level of 0.05 and data processing was carried out using the SPSS program. The results of the analysis showed that the value of the determination coefficient (R²) was 40.3%, which means that the variables of profitability and corporate social responsibility were able to explain the variation in company value by 40.3%, while the rest was explained by other variables outside the research model. The results of partial hypothesis testing showed that profitability had a significant effect on company value and corporate social responsibility also had a significant effect on company value. In addition, the results of simultaneous testing showed that profitability and corporate social responsibility together had a significant effect on the corporate value of state-owned companies listed on the Indonesia Stock Exchange, which was indicated by a significance level of less than 0.05.
Determinan Penghindaran Pajak: Moderasi Keterbatasan Keuangan Nia Rifvany Agustin Wulandari; Nadya Fitriyah Nur Aisyah; Fitra Ria Silvida; Rony Wardhana
EL MUHASABA: Jurnal Akuntansi (e-Journal) Vol 17, No 1 (2026): EL MUHASABA
Publisher : Jurusan Akuntansi Fakultas Ekonomi Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/em.v17i1.34396

Abstract

Purpose: This study aims to examine the effect of corporate risk, capital intensity ratio, and family ownership on tax avoidance, by considering financial constraints as a moderating variable. Method: This study uses data of 225 observations from the cen sus technique where all LQ45 companies on the Indonesia Stock Exchange are the research sample. The data were analyzed using the Partial Least Square (PLS) approach with the help of SmartPLS software. Results: The results show that corporate risk and family ownership have a positive and significant effect on tax avoidance. The capital intensity ratio does not show a significant effect. Financial constraints significantly moderate the relationship between family ownership and tax avoidance in a negative direction. Implication: This study enriches tax avoidance literature by highlighting the role of ownership structure and internal financial conditions, offering valuable insights for tax policy and fiscal oversight. Novelty: The study introduces financial constraints as a moderator in the link between family ownership and tax avoidance—an underexplored area in Indonesian public companies—using LQ45 firms to reflect real market dynamics.
Co-Authors Budi Prasetiyo Esti Popi Marceline Zai Fitra Ria Silvida Hera Nurfaidah Jejen Jaenudin Nadya Fitriyah Nur Aisyah Nastiti Rizky Shiyammurti Nia Rifvany Agustin Wulandari