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Journal of Accounting and Finance Management (JAFM)

JAFM
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Published by Dinasti Research

ISSN : 27213005 EISSN : 27213013 DOI : https://doi.org/10.38035/jafm

Core Subject : Economy,

Economics, Econometrics & Finance

Journal of Accounting and Finance Management (JAFM) is a peer-reviewed journal published by Dinasti Research, Dinasti Foundation, Indonesia six times a year. JAFM aims to publish articles in the fields of accounting, finance, and management that make a significant contribution to the development of accounting practices and the accounting profession in Indonesia and in the world. Consistent with its objectives, JAFM provides insights in accounting and finance for academics, practitioners, researchers, regulators, students, and other parties who are interested in developing accounting practices and the accounting profession. JAFM accepts quantitative or qualitative research texts, written in Indonesian or English. JAFM accepts manuscripts from Indonesian writers and writers from various parts of the world.

Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)

Articles 539 Documents

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PT MD Entertainment Tbk (Film) - PT Net Visi Media Tbk (Netv) Acquisition Deal: Valuation and Financial Due Diligence Nafis Hestopo, Dzakwan; Arif Sumirat, Erman
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1263

This study evaluates the financial and strategic implications of PT MD Entertainment Tbk's (FILM) acquisition of an 80% stake in PT Net Visi Media Tbk (NETV). Indonesia’s creative economy, particularly the film and media sectors, presents significant growth potential, contributing substantially to GDP and employment. However, challenges such as financing constraints and the shift to digital transmission have disrupted traditional media, including NETV, which faces financial struggles. MD Entertainment, a leader in Indonesia’s film industry, pursued this horizontal acquisition to diversify into television broadcasting. This research applied methods such as Discounted Cash Flow (DCF) analysis, financial ratio evaluation, and synergy estimation to determine NETV's fair market value and the potential benefits MD Entertainment might gain. Findings highlight the acquisition’s strategic merit in strengthening MD Entertainment’s market presence and role in the creative economy. However, concerns remain over NETV's weak financial performance and the broader challenges in television advertising revenue, which is under pressure due to global economic trends and increasing competition from digital platforms. This analysis sheds light on key factors influencing mergers and acquisitions in the creative industry, offering valuable insights for stakeholders aiming to achieve financial and strategic objectives.

Valuation and Business Performance Analysis of PT Barito Renewables Energy Tbk. (BREN) Post-IPO Alviandi Taniwidjaja, Davin; Murtaqi, Isrochmani
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1291

This study analyzes the valuation and financial performance of PT Barito Renewable Energy Tbk (BREN), specifically examining its post-IPO performance within Indonesia's renewable energy sector. Employing the Discounted Cash Flow (DCF) method alongside a Free Cash Flow to the Firm (FCFF) approach and Relative Valuation metrics (including Price Earnings Ratio, Price to Book Value, and EV/EBITDA), the findings indicate a significant overvaluation of BREN's stock, with an intrinsic value per share derived from the DCF method estimated at $0.00832, which starkly contrasts with its market price of $0.486. This discrepancy points to a substantial market overvaluation, influenced by speculative trading and heightened investor enthusiasm. Furthermore, BREN's financial profile reveals elevated leverage ratios, such as Debt-to-Equity and Debt-to-EBITDA, in comparison to industry peers, underscoring inherent financial risks despite commendable operational efficiency evidenced by an 84% EBITDA margin. The study emphasizes the necessity of reconciling market expectations with financial fundamentals, providing critical insights into the dynamics of overvaluation among emerging renewable energy firms, and proposing strategies to enhance financial sustainability while supporting Indonesia’s transition toward renewable energy.

Pengaruh Leverage, Ukuran Perusahaan, Struktur Modal Terhadap Kinerja Keuangan Perusahaan (Studi pada Perusahaan Tambang Sub Sektor Batu Bara yang Terdaftar di ISSI Tahun 2020-2023) Ibnu Fajar, Ghani; Budi Santoso, Suryo; Haryanto, Eko; Eko Budi Santoso, Selamet
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1294

Penelitian ini bertujuan untuk menguji dampak leverage, ukuran perusahaan, dan struktur modal terhadap kinerja keuangan. Subjek Penelitian ini adalah perusahaan pertambangan seb sektor batu bara yang terdaftar di IDX ISSI, dengan periode penelitian dari tahun 2020 hingga 2023. Metode yang digunakan dalam penelitian ini adalah pendekatan kuantitatif dengan analisis data menggunakan aplikasi SPSS. Hasil penelitian menunjukkan bahwa hanya ukuran perusahaan yang memiliki pengaruh positif terhadap kinerja keuangan, sementara variabel leverage dan struktur modal tidak menunjukkan dampak signifikan terhadap kinerja keuangan tersebut.

Model Penerimaan QRIS: Studi Pada Mahasiswa di Purwokerto Pernanda Pramestiani, Angelina; Fitriati, Azmi; Budi Santoso, Suryo; Nur Azizah, Siti
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1298

This research aims to analyze the factors that influence the intention to use QRIS. QRIS is type of digital payment that is currently popular in Indonesia. The success of using QRIS is determined by the user’s willingness to use this technology. The population of this study were students in Purwokerto who used QRIS. The samples used was 257. The data collection technique uses accidental sampling. The analysis technique uses the SEM-PLS method. The results of this research indicate that perceived transaction convenience has a positive effect on mobile usefulness. perceived transaction speed has a positive effect on mobile ease of use. Perceptions of mobile ease of use, optimisme and personal innovativeness have a positive effect on behavioral intention. And the perception of mobile usefulness has no influence on behavioral intention. The implication of this research is to analyze students’s intentions towards using QRIS and show how QRIS can increase payment efficiency.

The Role of ESG Component in Shaping Corporate Cost of Debt and Cost of Equity in Indonesia Hanna Pramadhia, Jasmine; Anny Nainggolan, Yunieta
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1241

This study aims to analyze how the ESG combined score and its components affect the cost of debt and equity for listed companies in Indonesia. Otoritas Jasa Keuangan (OJK) has issued regulations to encourage the inclusion of companies' ESG performance in investment decisions. This has resulted in companies getting incentives to improve their ESG performance. However, the actual impact of lower capital costs due to improved ESG performance is still unavailable in Indonesia. This study attempts to fill this gap by considering the impact of the assessment of the components that underlie ESG values: emission reduction, resource use, environmental innovation, workforce, community, human rights, product responsibility, CSR strategy, management, and shareholder rights on the cost of debt and equity. The results show the ESG combined score has no impact on the cost of debt. However, components such as emissions, environmental innovation, and human rights can directly affect the company's debt cost. In addition, the results show that the combined ESG score and almost all components that build the ESG score affect the company's equity cost. However, this study found that the majority had a positive relationship with heavy-polluting companies and a negative relationship with non-heavy-polluting companies.

Proposing a Balance Competency and Cultural Fit Recruitment Strategy in Startup Company (Case: Beta) Farasila, Iraisa; Putra Pratama, Andika
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1265

This study aims to develop a recruitment strategy that balances the assessment of competencies and cultural fit at BETA, an ed-tech startup in Indonesia. The research focuses on recruitment challenges, including lengthy hiring processes and high probationary failure rates due to mismatches in competencies and cultural alignment. A qualitative approach was employed, involving in-depth interviews with six key informants from BETA’s Talent Acquisition team and division leaders. Data analysis was conducted using the Interactive Model Analysis, which includes data collection, condensation, display, and conclusion drawing. The findings reveal that key competencies required include a strong work ethic, a lifelong learning mindset, and innovation, while cultural values prioritized collaboration, commitment to learning, and optimism. The proposed recruitment strategy involves detailed job specifications, competency-based interview guidelines, cultural fit assessments, structured probationary workflows, and clear Key Performance Indicators (KPIs) for objective evaluation. Implementing these strategies is expected to enhance recruitment efficiency, reduce probationary failures, and build a team that is both competent and culturally aligned.

Pengaruh Net Profit Margin, Debt to Equity Ratio dan Sales Growth terhadap Pertumbuhan Laba (Studi pada Perusahaan yang Terdaftar di IDX SHARIAGROWTH) Hening Adisma, Tiara; Budi Santoso, Suryo; Fakhruddin, Iwan; Joko Setyadi, Edi
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1293

Tujuan dari penelitian ini adalah untuk menguji pengaruh Net Profit Margin, Debt to Equity Ratio, dan Sales Growth terhadap Pertumbuhan Laba. Penelitian dilakukan pada perusahaan yang tercatat di IDX Sharia Growth selama periode 2021-2023 dengan menggunakan pendekatan kuantitatif. Sampel yang digunakan berjumlah 30 perusahaan dan menggunakan metode purposive sampling. Data penelitian diolah dan diuji menggunakan aplikasi SPSS. Hasil penelitian menunjukkan bahwa Net Profit Margin dan Sales Growth memiliki pengaruh positif terhadap pertumbuhan laba, sementara Debt to Equity Ratio tidak berpengaruh terhadap pertumbuhan laba.

Company Growth, Komite Audit, Komisaris Independen, Cash Flow dan Dividend Payout Ratio terhadap Konservatisme Akuntansi Nidya Alvira, Lielin; Kusumawati, Eny
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1295

Konservatisme merupakan prinsip kehati-hatian dalam pelaporan keuangan dimana perusahaan tidak segera mengakui dan mengukur aset dan laba tetapi segera mengakui kerugian dan utang yang mungkin terjadi. Penelitian ini bertujuan untuk menganalisis pengaruh company growth, komite audit, komisaris independen, cash flow, dividend payout ratio terhadap konservatisme akuntansi pada perusahaan non keuangan yang terdaftar di bursa efek indonesia periode 2020-2022. Teknik pengambilan sampel yang digunakan pada penelitian ini adalah purposive sampling. Sebanyak 273 perusahaan yang telah memenuhi kriteria sebagai unit observasi. Metode analisis yang digunakan adalah analisis regresi linier berganda. Hasil penelitian memberikan bukti empiris bahwa komite audit, komisaris independen, dan dividend payout ratio berpengaruh terhadap konservatisme akuntansi. Sedangkan company growth dan cash flow tidak berpengaruh terhadap konservatisme akuntansi.

Analisis Pengaruh Dewan Komisaris Independen, Kepemilikan Manajerial dan Ukuran Perusahaan terhadap Kinerja Keuangan Perusahaan Makanan dan Minuman yang Terdaftar di BEI tahun 2021-2023 Nur Hidayat, Taufik; Joko Setyadi, Edi; Hariyanto, Eko; Wibowo, Hardiyanto
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1300

Kinerja keuangan perusahaan adalah gambaran tentang posisi keuangan suatu perusahaan, dianalisis menggunakan alat analisis keuangan, dan mencerminkan kinerja operasionalnya dalam periode tertentu untuk memberikan gambaran tentang seberapa baik atau buruk posisi keuangan suatu perusahaan. Kinerja keuangan perusahaan memberi investor gambaran tentang berapa banyak keuntungan yang akan dihasilkannya di masa depan, atau dalam jangka panjang. Oleh karena itu, penelitian ini bertujuan untuk mengetahui pengaruh dewan komisaris independen, kepemilikan manajerial, dan ukuran perusahaan terhadap kinerja keuangan perusahaan manufaktur. Populasi dalam penelitian ini berjumlah 109 sampel dari perusahaan sub-manufaktur makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Teknik pengambilan sampel dalam hal ini adalah purposive sampling. Berdasarkan kriteria, diperoleh 106 sampel dari 35 perusahaan. Teknik pengumpulan data yang digunakan adalah observasi. Teknik pengumpulan data yang digunakan adalah observasi. Penelitian ini menggunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa variabel dewan komisaris independen dan kepemilikan manajerial berpengaruh negatif dan signifikan terhadap kinerja keuangan, sedangkan ukuran perusahaan tidak mempengaruhi kinerja keuangan perusahaan sub-manufaktur makanan dan minuman yang tercatat di Bursa Efek Indonesia.

The Darkside of Artificial Intelligence to Consumer Behavior: Bibliometric Review Qanita Putri Muslik, Sintara; Mulia Wibawa, Berto; Windharto, Agus
Journal of Accounting and Finance Management Vol. 5 No. 6 (2025): Journal of Accounting and Finance Management (January - February 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v5i6.1286

Artificial Intelligence (AI) is a technology that continues to be developed today. Providing a positive impact on life in facilitating human work, unfortunately AI also has a bad side that causes anxiety. The purpose of this research is to explain the negative impacts associated with AI in the world of business management. This research is expected to provide an understanding of the dark side of AI on consumer behavior and its implications through a systematic literature review and in-depth content analysis. The data used in this study were taken from Scopus and Web of Science using bibliometric methods. Using the help of RStudio and biblioshiny applications to manage data. The results showed that there is a significant correlation between the negative impact of Artificial Intelligence (AI) on consumer behavior, where the negative impact of AI significantly affects consumer behavior. This study provides important new knowledge for researchers and the public who seek information about the relationship between the negative impact of AI and consumer behavior.

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Apollo Daito

Contact Email dinasti.info@gmail.com

Phone +628117404455

Journal Mail Official editor@dinastires.org

Editorial Address Casa Amira Prive Jl. H. Risin No. 64D Pondok Jagung Timur, Serpong Utara, Tangerang Selatan, Indonesia

Location Kota tangerang selatan, Banten INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Apollo Daito

Contact Email
dinasti.info@gmail.com

Phone
+628117404455

Journal Mail Official
editor@dinastires.org

Editorial Address
Casa Amira Prive Jl. H. Risin No. 64D Pondok Jagung Timur, Serpong Utara, Tangerang Selatan, Indonesia

Location
Kota tangerang selatan,

Banten

INDONESIA