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All Journal Jurnal Ilmiah Manajemen Kesatuan Jurnal Ilmiah Akuntansi Kesatuan
Tyahya Whisnu Hendratni
Universitas Pancasila, Indonesia
Economics, Econometrics & Finance Social Sciences

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The Effect of Financial Management and Investment Decision on Firm Value with Profitability as a Mediating Variable Henny A. Manafe; Tyahya Whisnu Hendratni; Subur Harahap; Ikramina Larasati Hazrati Havidz
Jurnal Ilmiah Manajemen Kesatuan Vol. 14 No. 2 (2026): JIMKES Edisi March 2026
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v14i2.5047

Abstract

Firm value reflects market perceptions of a company’s performance and long-term sustainability. However, empirical evidence regarding the influence of financial management and investment decisions on firm value remains inconsistent, indicating that the underlying internal mechanisms are not fully understood. This study aims to examine the effects of financial management and investment decisions on firm value, incorporating profitability as a mediating variable for companies listed on the Indonesia Stock Exchange. A quantitative approach with a causal research design was employed, utilizing secondary data from annual financial statements covering the 2019–2023 period. Financial management and investment decisions were measured using financial structure and asset growth indicators, while profitability and firm value were assessed using profit performance ratios and market-based ratios. Data analysis was conducted through multiple linear regression, with mediation tested using the Sobel test. The results reveal that financial management and investment decisions do not consistently exert a direct effect on firm value but significantly influence it through enhanced profitability. These findings underscore the critical role of profitability as a mediating mechanism in value creation and provide practical implications for managers in formulating financial and investment policies that enhance profitability and long-term firm value.
Financial Report Digitalization on Transparency and Accuracy in Multinational Companies Tyahya Whisnu Hendratni
Jurnal Ilmiah Akuntansi Kesatuan Vol. 13 No. 4 (2025): JIAKES Edisi Agustus 2025
Publisher : Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jiakes.v13i4.3570

Abstract

The digital transformation of financial reporting has become essential for multinational companies to ensure transparent and accurate financial information in the Industry 4.0 era. This study aims to examine the influence of financial report digitalization on the transparency and accuracy of financial information in multinational companies. A quantitative approach was employed, using Structural Equation Modeling to analyze data from 162 multinational companies selected through purposive sampling. Data were collected via questionnaires distributed to finance division heads and supplemented by annual reports. The findings reveal that digitalization significantly enhances transparency (path coefficient 0.632, p-value less than 0.001) and accuracy (path coefficient 0.571, p-value less than 0.001), driven by technologies such as enterprise resource planning, cloud accounting, blockchain, and artificial intelligence. This study concludes that digitalization strengthens financial governance by improving data accessibility and reliability, though its applicability may be limited to companies with advanced digital infrastructure. These results provide insights for companies to invest in digital technologies and for regulators to develop harmonized reporting standards.
Co-Authors Harahap, Subur Henny Angri Manafe Ikramina Larasati Hazrati Havidz