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International Journal of Finance Research
Published by Training & Research Institute Jeramba Ilmu Sukses
ISSN : -     EISSN : 2746136X     DOI : 10.47747
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
International Journal of Finance Research (IJFR) is a peer-reviewed journal which publishes original research papers. IJFR has been published since 2020. It is currently published quarterly (March, June, September & December). Areas of research include, but are not limited to Finance and Investment, capital markets, financial institutions, corporate finance & corporate governance. e-ISSN: 2746-136X. The Digital Object Identifier (DOI) is assigned to each published article and the journal is indexed by Crossref, Neliti.Com, Dimensions and Google Scholar.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Keuangan
Articles 131 Documents
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The Effect of Capital Adequacy, Liquidity and Cost Efficiency on Profitability: The Case of Private Banks and Foreign Banks Listed in Indonesian Stock Exchange Sari, Ria Purnama; Djazuli, Abid; Choiriyah, choiriyah
International Journal of Finance Research Vol. 6 No. 2 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i2.2785

Abstract

This study aims to analyze the impact of increasing capital adequacy, high liquidity levels, and enhanced cost efficiency on the profitability of National Private Banks and Foreign Banks listed on the Indonesia Stock Exchange. There are three main problems faced by banks today. First, the management of credit distribution remains inadequate, which has the potential to increase the risk of bad debt. Second, the burden of regulation requires banks to set aside capital for additional bank capital reserves. Third, the entry of foreign banks into Indonesia is increasing, thereby tightening competition. These three problems will impact the condition of banking performance if improvements are not made in managing assets, credit, and costs by taking a sample of specific criteria from 20 banks using data from the period 2017 to 2023. This type of research is Quantitative. The variables used by researchers include Capital Adequacy, Liquidity, Cost Efficiency, and Profitability. The sample in this study is National Private Banks and Foreign Banks Listed on the Indonesia Stock Exchange. The data used in this study are secondary data collected using a documentation data collection method. The data analysis technique used is multiple linear regression. The results of this study show that (1) Capital Adequacy, Liquidity, and Cost Efficiency together have a positive and significant effect on profitability, (2) Capital Adequacy has no significant effect on profitability, Liquidity has no significant effect on profitability, and Cost Efficiency does not have a significant effect on profitability
The Effect of Financial Restructuring, Firm Size and Sales Growth on Firm Performance (Balance Scorecard): The Case of State-Owned Enterprises in Indonesia Ulandari, Melita; Ladewi, Yuhanis; Yamaly, Fadhil
International Journal of Finance Research Vol. 6 No. 2 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i2.2806

Abstract

This study aims to determine and analyze the Effects of Financial Restructuring, Company Size, and Sales Growth on Company Performance (as measured by the Balanced Scorecard) in BUMN Companies throughout Indonesia. The population in this study consisted of 21 BUMN Companies that underwent restructuring. The Sampling Technique used in this study was Purposive Sampling. In this study, the samples consisted of 9 companies that published complete financial reports and performance reports and carried out restructuring from 2018 to 2023. The analysis technique employed was multiple linear regression. The results of this study indicate that financial restructuring, company size, and sales growth together have a significant effect on company performance (balanced scorecard), partially financial restructuring does not affect company performance (balanced scorecard), company size affects company performance (balanced scorecard), and sales growth affects company performance (balanced scorecard). These findings have practical implications for financial restructuring and company performance in the BUMN sector.
Factors Affecting Profitability: The Case of Coal Mining Sector Listed Firms in the Indonesia Stock Exchange (IDX) Berlianti, Wahyuni; Fatimah, Fatimah; Junaidi, Junaidi
International Journal of Finance Research Vol. 6 No. 2 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i2.2816

Abstract

This comprehensive study aims to determine the factors that affect profitability in coal mining companies listed on the Indonesia Stock Exchange (IDX). The data used in this study are secondary. The population in this study consists of coal mining companies listed on the Indonesia Stock Exchange, comprising 34 companies, of which 11 were selected as samples. The data collection technique used is the Library study technique. The research method used is quantitative research. The analysis model used in this study is descriptive. The results show that simultaneously, the current ratio, quick ratio, cash ratio, debt-to-assets ratio, and debt-to-equity ratio have a significant effect on profitability. To some extent, the current ratio has a positive impact on profitability. To some extent, the quick ratio has a positive impact on profitability. To some extent, the cash ratio has a positive impact on profitability. To some extent, the debt-to-assets ratio has a positive impact on profitability. Partially, the debt-to-equity ratio does not affect profitability
The Influence of Capital Adequacy Ratio, Non-Performing Loan, and Loan to Deposit Ratio on Return on Assets : on State-Owned Enterprise Banks is listed on the Indonesia Stock Exchange for the 2015-2024 Period Adhitama, Prayoga Tri; Sumawidjaja, Riyandi Nur
International Journal of Finance Research Vol. 6 No. 2 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i2.2826

Abstract

This study examines how CAR, NPL, and LDR influenced ROA of SOE Bank from 2015 to 2024. The study's secondary data was collected from the websites of each bank's financial reports. Hypothesis testing, correlation coefficient analysis, regression analysis, classical assumption testing, and coefficient of determination analysis are examples of statistical analysis procedures. The findings demonstrated that LDR negatively impacts ROA, NPL negatively and significantly impacts ROA, and CAR positively and significantly impacts ROA. All things considered, the ROA of SOE banks that were listed at the time on the IDX was significantly influenced by these three ratios taken together.
The Effect of Debt to Equity Ratio, Return on Assets, and Inflation Level on Stock Prices: Empirical Study of Manufacturing Firms in the Consumer Good Industry Listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023 Wahyudi, Rahmat; Fatimah, Fatimah; Ladewi, Yuhanis
International Journal of Finance Research Vol. 6 No. 2 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i2.2879

Abstract

This study aims to determine the effect of the debt-to-equity ratio, return on assets, and inflation rate on stock prices using an empirical analysis of manufacturing companies in the consumer goods sub-industry listed on the Indonesia Stock Exchange (IDX). The object of this study is 52 manufacturing companies in the consumer goods sub-industry, spanning the period from 2018 to 2023. The sample in this study was 47 manufacturing companies in the consumer goods sub-industry. The sampling technique used in this study is Purposive Sampling. In this study, the sample consisted of companies that published financial statements and reported losses for the years 2019 -2023.  The results of this study indicate simultaneously and partially (1) debt to equity ratio, return on assets, and inflation rate together have a positive and significant effect on stock prices (2) debt to equity ratio does not affect and is significant on stock prices (3) return on assets does not affect and is significant on stock prices (4) Inflation rate does not affect and is significant on stock prices.
Assessing the Impact of Customer Relationship Management (CRM) on the Overall Productivity of Government-Owned Organizations Goldar, Sufal Chandra
International Journal of Finance Research Vol. 6 No. 3 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i3.2810

Abstract

This analysis investigates the effects of Customer Relationship Management (CRM) on the total productivity of state-operated entities in Bangladesh. As public sector organizations strive to enhance service efficiency, citizen engagement, and accountability, CRM has emerged as a viable digital solution. A systematic questionnaire was used to gather data from 400 personnel across three governmental organizations: Dhaka Electric Supply Company Limited (DESCO), Dhaka Water Supply and Sewerage Authority (WASA), and Bangladesh Telecommunications Company Limited (BTCL). Statistical evaluations, including correlation analysis and multiple regression techniques, were employed to assess five hypotheses regarding CRM implementation, productivity, employee engagement, citizen satisfaction, and the impact of governance and implementation challenges. The results indicate that adopting CRM substantially enhances productivity and citizen satisfaction while improving employee engagement. Nevertheless, the existence of technological and organizational impediments was determined to have an adverse impact on the efficacy of CRM. Furthermore, support from governance—manifested through leadership, policy formulation, and oversight—plays a crucial role in sustaining CRM outcomes. This study concludes that CRM, when executed with strategic foresight and institutional backing, possesses the potential to transform public sector performance within Bangladesh. This investigation provides empirical evidence and insights relevant to policymaking efforts aimed at advancing digital governance in developing nations.
The Influence of Profitability and Environmental Cost on Green Accounting in Energy Sector Companies Amelia, Mike; Fransisca, Septiani
International Journal of Finance Research Vol. 6 No. 3 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i3.2887

Abstract

This study aims to analyze the influence of profitability and environmental costs on green accounting in energy sector companies. The approach used in this study is a quantitative approach with secondary data from annual reports and sustainability reports published on the companies' official websites. The population for this study consists of all energy sector companies listed on the Indonesia Stock Exchange in 2022-2023, totaling 90 companies. The sampling technique used purposive sampling, resulting in 47 companies meeting the criteria. The study period was two years, resulting in a total of 94 research samples. Data analysis was conducted using classical assumption tests, multiple linear regression tests, and hypothesis tests. The results of the tests indicated that profitability and environmental costs significantly influence green accounting
Evaluation of Stock Returns Against Systematic Risk Using the Capital Market Line (CML) Approach: An Empirical Study on LQ45 Stocks: English Suhandi, Ni Putu Mila; Priyanto, Panji
International Journal of Finance Research Vol. 6 No. 3 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i3.2920

Abstract

This study aims to evaluate the performance of LQ45 stocks against systematic risk using the Capital Market Line (CML) approach. The CML, derived from the Capital Asset Pricing Model (CAPM), represents the risk-return relationship between efficient portfolios and the market portfolio, incorporating both the risk-free rate and the total risk (standard deviation). Unlike the Security Market Line (SML), which uses beta as a measure of systematic risk, the CML emphasizes total risk in the context of portfolio efficiency. This research employs a quantitative descriptive method, analyzing secondary data of LQ45 constituents listed on the Indonesia Stock Exchange (IDX) for the period from January 2023 to December 2024. The Sharpe Ratio was calculated to assess the performance of individual stocks, followed by comparison with the CML benchmark. The findings reveal that only a limited number of stocks demonstrate efficiency by lying above CML, while the majority fall below, indicating suboptimal risk-adjusted returns. These results support the theoretical proposition that in efficient markets, only well-diversified portfolios, not individual assets, can consistently align with the CML. This study contributes to the growing literature on asset pricing by emphasizing the role of total risk in portfolio evaluation and provides practical implications for investors in constructing efficient portfolios.
The Effect of Capital Intensity, Profitability, and Leverage on Tax Avoidance in Transportation and Logistics Companies Listed on the Indonesian Stock Exchange khoirunnisa, khoirunnisa; Helmi, Sulaiman; Sartika, Dewi; Gustini, Emilia
International Journal of Finance Research Vol. 6 No. 3 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The purpose of this study is to determine the effect of capital intensity, profitability, and leverage on tax avoidance in transportation and logistics companies listed on the Indonesia Stock Exchange. Tax avoidance is a deliberate approach taken by individuals, organizations, or legal entities to reduce their tax liabilities legally. This study uses secondary financial statement data accessible through the Indonesia Stock Exchange website at www.idx.co.id. The population in this study consists of 84 transportation and logistics companies, and the sample used comprises 28 companies. The sampling method used is purposive sampling, with data analysis techniques employing multiple linear regression through the SmartPLS version 4 program. The results of this study indicate that capital intensity influences tax avoidance. Meanwhile, profitability and leverage do not influence tax avoidance
Navigating Market Volatility: The Role of Gold, Crude Oil, and COVID-19 on the Stock Price Starli, Eudokimos Brian; Fauzi, Fitriya
International Journal of Finance Research Vol. 6 No. 3 (2025): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v6i3.3045

Abstract

This study aims to analyze the influence of global gold prices, crude oil prices, and daily COVID-19 cases on the Indonesian Composite Index (IHSG) before, during, and after the COVID-19 pandemic. The study consists of three independent variables: global gold prices, crude oil prices, and daily COVID-19 cases, with one dependent variable: the IHSG. The data was taken from 2018 to 2023, covering the periods before, during, and after the pandemic. The data processing is divided into four periods: before, during, and after the pandemic, up to the overall period. This paper used the Quantile Regression 0.75 and Generalized Linear Model (GLM) research methods due to the presence of extreme outliers that prevented the data from meeting normality requirements. By using Quantile Regression 0.75 and GLM, data normality can be ruled out. Both research methods showed similar significant results. Gold has a positive effect on the IHSG, and crude oil has a larger coefficient than gold. Meanwhile, COVID-19 has a significant but negative effect, with a small coefficient, suggesting that the daily number of COVID-19 cases has no impact on the IHSG. These findings have practical implications for understanding the dynamics of the IHSG, engaging the reader's interest in the study's relevance.

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