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All Journal Buletin Poltanesa Jurnal Ekonomi dan Manajemen (JEKMA)
Muhammad Fahmi
Tanjungpura University
Agriculture, Biological Sciences & Forestry Computer Science & IT Economics, Econometrics & Finance Education

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DETERMINANTS OF PROFITABILITY AMONG INDONESIAN LISTED FIRMS: THE ROLE OF LEVERAGE, EFFICIENCY, AND MARKET VALUATION Yopi Saputra; Muhammad Fahmi; Vitriyan Espa; Rudy Kurniawan; Sari Rusmita
Jurnal Ekonomi dan Manajemen Vol. 4 No. 3 (2025): Oktober : Jurnal Ekonomi dan Manajemen
Publisher : Asosiasi Dosen Muda Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56127/jekma.v4i3.2340

Abstract

This study investigates the determinants of corporate profitability among publicly listed companies in Indonesia. Using firm-year data from the Indonesia Stock Exchange for the 2020–2024 period, we examine how capital structure, operational efficiency, market valuation, investor expectation, firm size, and liquidity relate to profitability. Profitability is proxied by Return on Assets (ROA) and Return on Equity (ROE). We estimate panel regressions and perform robustness checks using alternative specifications and multicollinearity diagnostics. The results show that operational efficiency (net profit margin) and market valuation (price-to-book) are positively and significantly associated with profitability, while leverage (debt-to-equity) exhibits a negative and economically meaningful effect. Investor expectation (price-to-earnings) is positively related to profitability, although the magnitude varies across model choices and profitability proxies. Firm size contributes positively, whereas excessive liquidity is linked to lower profitability, consistent with agency and idle-cash arguments. The findings highlight the importance of balancing growth signals with prudent capital structure and cost efficiency to enhance shareholder value. Policy implications are discussed for managers, investors, and regulators in emerging markets.
The Influence of PSAK 71 Implementation on Firm Value with Investor Confidence as a Moderating Variable Arief Harjanto; Nella Yantiana; Muhammad Fahmi; Syarif M Helmi; Nina F Dosinta
Poltanesa Vol 26 No 1 (2025): June 2025
Publisher : P3KM Politeknik Pertanian Negeri Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51967/tanesa.v26i1.3286

Abstract

This study aims to analyze the influence of the implementation of the Indonesian Financial Accounting Standards Statement (PSAK) 71 on firm value, with investor confidence as a moderating variable. The research focuses on banking companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. A quantitative approach with a causal-comparative research design was employed. The data were analyzed using SPSS version 25.The results indicate that the Allowance for Impairment Losses (CKPN), as a representation of PSAK 71 implementation, has a significant effect on firm value. This is evidenced by a significance value of 0.000 and a t-statistic of -17.685, which exceeds the critical t-value, thereby supporting the first hypothesis. However, investor confidence does not moderate the relationship between CKPN and firm value, as demonstrated by a t-statistic of -0.435, which is below the critical t-value, and a significance level above 0.05. These findings suggest that although CKPN influences market perceptions of risk and corporate valuation, investor confidence is not yet strong enough to mitigate this effect. This study contributes to the understanding of the dynamics surrounding the application of PSAK 71 and market perceptions of financial stability in the banking sector.
The Role of Audit Quality in Moderating the Relationship Between Corporate Governance, Ownership Structure, and Earnings Management Rahmaniar Wulandari; Syarbini Ikhsan; Syarif M Helmi; Muhammad Fahmi; Nina F Dosinta
Poltanesa Vol 26 No 1 (2025): June 2025
Publisher : P3KM Politeknik Pertanian Negeri Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51967/tanesa.v26i1.3290

Abstract

This study aims to examine the role of audit quality in moderating the relationship between Good Corporate Governance (GCG), ownership structure, and earnings management in banking sector companies listed on the Indonesia Stock Exchange during the period 2019-2023. The method used in this study is quantitative, with data analysis using SPSS 25. The sample used in this study consisted of banking sector companies listed on the Indonesia Stock Exchange, with data obtained from the company's annual report. The results of the study indicate that GCG has a significant effect on earnings management, indicating that good GCG implementation can increase transparency in earnings management. Ownership structure does not have a significant effect on earnings management, indicating that direct control by the owner is not strong enough to influence earnings management in the Indonesian banking sector. Audit quality is proven to moderate the effect of GCG on earnings management, meaning that high audit quality strengthens the relationship between GCG and more transparent earnings management. Audit quality moderates the effect of that good external monitoring can increase the effectiveness of monitoring carried out by owners.
The Effect of Good Corporate Governance on The Value of IDX 30 Companies Listed on The Indonesia Stock Exchange Nida Awvada; Vitriyan Espa; Muhammad Fahmi; Syarif M Helmi; Nina Febriana Dosinta
Poltanesa Vol 26 No 1 (2025): June 2025
Publisher : P3KM Politeknik Pertanian Negeri Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51967/tanesa.v26i1.3310

Abstract

This study aims to examine the influence of Good Corporate Governance (GCG) on firm value in companies listed in the IDX30 index on the Indonesia Stock Exchange. The background of this research stems from the growing importance of GCG implementation, particularly after the 1997 Asian financial crisis, where internal issues such as weak institutional supervision and poor investment decisions were identified. The study adopts a quantitative approach, utilizing secondary data from annual reports and financial statements of IDX30 companies. Analytical methods include classical assumption tests and multiple regression analysis to determine the effect of GCG variables such as board of commissioners, independent commissioners, audit committee, and institutional ownership on firm value. The results show that GCG practices significantly affect firm value. This finding reinforces the notion that good governance practices enhance transparency, accountability, and stakeholder trust, which are critical in boosting the company's market performance and attractiveness to investors.
Analysis of the Influence of Third Party Funds, Capital Adequacy, and Credit Distribution on Banking Profitability with Operational Efficiency as a Moderating Variable Sabri; Muhammad Fahmi; Rudi Kurniawan; Sari Rusmita; Vitriyan Espa
Poltanesa Vol 26 No 1 (2025): June 2025
Publisher : P3KM Politeknik Pertanian Negeri Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51967/tanesa.v26i1.3311

Abstract

This study aims to analyze the effect of Third Party Funds (TPF), Capital Adequacy, and Credit Distribution on banking profitability, with Operational Efficiency as a moderating variable. This study uses a quantitative approach with secondary data from the financial statements of Regional Development Banks (BPD) during the period 2021–2023, namely the post-COVID-19 pandemic period. Data processing was carried out using the SPSS version 25 application. The results of the study showed that TPF did not have a significant effect on profitability, indicating that the amount of funds collected was not necessarily accompanied by the effectiveness of their utilization. On the other hand, Capital Adequacy and Credit Distribution were proven to have a significant effect on bank profitability. Operational Efficiency acts as a moderating variable that strengthens the relationship between Capital Adequacy and profitability, but is unable to moderate the effect of TPF or Credit Distribution. This finding supports the Signaling Theory, which states that capital adequacy and operational efficiency can be positive signals for bank performance, especially in the context of post-pandemic economic recovery.
The Moderating Effect of Corporate Transparency on the Relationship between Audit Quality, Audit Committee, Ownership Structure, and Reporting Quality Rizki Saputra; Umianty Hamzani; Muhammad Fahmi; Syarif Helmi; Nina Febriana Dosinta
Poltanesa Vol 26 No 1 (2025): June 2025
Publisher : P3KM Politeknik Pertanian Negeri Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51967/tanesa.v26i1.3366

Abstract

This study aims to analyze the moderating effect of corporate transparency on the relationship between audit quality, audit committee, and ownership structure on the quality of financial reporting in banking companies listed on the Indonesia Stock Exchange during the 2019–2023 period. The research employs a quantitative method with data analysis conducted using SPSS version 25. The results indicate that audit quality and the audit committee have a significant effect on the quality of financial reporting. On the other hand, ownership structure does not have a significant effect on financial reporting quality. Corporate transparency is proven to moderate the influence of audit quality and the audit committee on financial reporting quality; however, transparency does not moderate the influence of ownership structure on financial reporting quality.
Analysis of Internal Control System of Electronic Resident Id Card Production Service (KTP-EL) at Selimbau District Office Rika Carolina; Umiaty Hamzani; Muhammad Fahmi; Syarif M. Helmi; Nina Febriana Dosinta
Poltanesa Vol 26 No 1 (2025): June 2025
Publisher : P3KM Politeknik Pertanian Negeri Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51967/tanesa.v26i1.3384

Abstract

This study aims to provide an overview and empirical evidence regarding the service system for issuing electronic identity cards (e-KTP), particularly within the institutions responsible for issuing them. The study focuses on internal control systems and the principles of public service delivery that influence the e-KTP issuance system. The type of research used is based on primary data, with the population comprising 28 employees of the Selimbau District Office. Secondary data were collected from books, theses, and journals related to the e-KTP issuance system. The methods used include organizational structure analysis, flowcharts, questionnaires, and compliance tests. The results of this study show that the implementation level of the government's internal control system reached 99.1%, and the implementation of public service principles reached 99.4%. Based on the questionnaire assessment criteria, the Selimbau District Office operates very effectively, with highly satisfactory internal control and public service standards. The effectiveness assessment based on the compliance test achieved a score of 100%, indicating a highly effective criterion. This means that employees have properly implemented the policies and procedures established for the e-KTP issuance process. However, there are still some obstacles, such as a complicated e-KTP issuance procedure, inadequate facilities and locations, inaccurate KTP collection times, frequent data/document inconsistencies, lack of specific guidance for the e-KTP issuance process, and the absence of a flowchart.
Co-Authors Arief Harjanto Nella Yantiana Nida Awvada Nina F Dosinta Nina Febriana Dosinta Rahmaniar Wulandari Rika Carolina Rizki Saputra Rudi Kurniawan Rudy Kurniawan Sabri Sari Rusmita Syarbini Ikhsan Syarif Helmi Syarif M Helmi Syarif M. Helmi Umianty Hamzani Umiaty Hamzani Vitriyan Espa Yopi Saputra