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All Journal Owner : Riset dan Jurnal Akuntansi Al-MIKRAJ: Jurnal studi Islam dan Humaniora Keizai
Arif Mahasin Sondani
Politeknik Negeri Sriwijaya
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences

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Fixed Asset Intensity, Debt Ratio, and Effective Tax Rates: Evidence From Indonesian Energy Companies Bella Putrie Nindyawan; Arif Nadzirul Haq; Arif Mahasin Sondani
Keizai Vol 7, No 1 (2026): Maret-Agustus
Publisher : Universitas Darwan Ali

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56589/keizai.v7i1.568

Abstract

This study evaluates the impact of fixed asset intensity and debt ratio on the effective tax rate (ETR), incorporating firm size as a control variable. The primary focus is to examine tax management strategies through the optimization of asset and financing structures to reduce the real tax burden. Employing a quantitative method with multiple linear regression analysis, this research observes 96 data points from 32 energy sector companies for the 2022–2024 period, selected through purposive sampling. The findings indicate that fixed asset intensity has a significant negative effect on the ETR due to the role of depreciation expenses as a tax shield. Conversely, the debt ratio has no significant effect, suggesting that debt levels are not the primary determinant of the tax burden within this sample. With an Adjusted R-Square value of 30.1%, this model provides insights for management regarding asset administration and for tax authorities concerning the fiscal characteristics of capital-intensive industries.
Pengaruh Pengelolaan Keuangan, Literasi Keuangan Dan Permodalan Terhadap Kinerja Keuangan Umkm Di Kota Pekanbaru Al Putri Oktavia; Liza Ulfiana; Arif Mahasin Sondani
AL-MIKRAJ Jurnal Studi Islam dan Humaniora (E-ISSN 2745-4584) Vol. 6 No. 1: Al-Mikraj, Jurnal Studi Islam dan Humaniora
Publisher : Pascasarjana Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/almikraj.v6i1.9040

Abstract

This study aims to determine the influence of financial management, financial literacy, and capital on the financial performance of MSMEs in Pekanbaru City. The sample size was 98 MSMEs registered with the Cooperatives Office from various sectors. The test instruments used were validity and reliability tests, multiple regression, simultaneous tests, and determination tests.
When ESG Meets Politics: The Role of Political Connections in Enhancing Firm Value in Indonesia Al Putri Oktavia; Armadani Armadani; Liza Ulfiana; Arif Mahasin Sondani
Owner : Riset dan Jurnal Akuntansi Vol. 10 No. 2 (2026): Artikel Research April 2026
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v10i2.3125

Abstract

The purpose of this study is to examine the effect of ESG performance on firm value. Furthermore, this study also empirically analyzes the moderating role of political connections on the relationship between ESG performance and firm value. This study analyzes non-financial companies listed on the Indonesia Stock Exchange from 2016 to 2023, totaling 1,644. The hypotheses are tested using panel data regression. We also conduct several other tests, such as robustness tests and additional analyses, to deepen the study. This study reveals that ESG performance increases firm value. Furthermore, political connections strengthen the positive effect of ESG performance on firm value. Additional tests align with the main findings. Interestingly, when separating large and small firms, only large firms significantly influence both the direct influence of ESG on firm value and the role of political connections in strengthening this relationship. This study fills an important gap by providing large-sample evidence from an emerging market and demonstrating that political connections are not merely direct value drivers, but institutional mechanisms that amplify the market relevance of ESG practices.
Co-Authors Al Putri Oktavia Al Putri Oktavia Arif Nadzirul Haq Armadani Armadani Bella Putrie Nindyawan Liza Ulfiana