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Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA)
Published by PT. RADJA INTERCONTINENTAL PUBLISHING
ISSN : -     EISSN : 2962973X     DOI : https://doi.org/10.54443/jaruda
Core Subject : Economy,
Economics, Econometrics & Finance
Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA) | ISSN (e): 2962-973X provides a forum for academics and professionals to share the latest developments and advances in knowledge and practice of business management, both theory and methods. It aims to foster the exchange of ideas on a range of essential management subjects and to provide a stimulus for research and the further development of international perspectives.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 17 Documents
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Search results for , issue "Vol. 4 No. 3 (2026): January" : 17 Documents clear
THE EFFECT OF CAPITAL STRUCTURE AND MANAGERIAL OWNERSHIP ON COMPANY VALUE THROUGH FINANCIAL PERFORMANCE IN THE FOOD & BEVERAGE SUB-SECTOR ON THE INDONESIA STOCK EXCHANGE Muhammad Arif; Nisrul Irawati; Syahyunan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.288

Abstract

Abstract The food and beverage industry is a strategic sector that plays an important role in the national economy and attracts considerable attention from investors in the capital market. Firm value reflects market perceptions of a company’s performance and prospects, which are influenced by capital structure, managerial ownership, and financial performance. This study aims to analyze the effect of capital structure and managerial ownership on firm value, the effect of financial performance on firm value, as well as the role of financial performance as an intervening variable in food and beverage sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This research employs a quantitative approach using secondary data from 13 companies with a total of 65 observations, analyzed using the Structural Equation Modeling–Partial Least Squares (SEM-PLS) method. The results show that capital structure has a positive and significant effect on firm value, managerial ownership has a positive and significant effect on firm value, and financial performance has a positive and significant effect on firm value. In addition, capital structure and managerial ownership are found to have a negative and significant effect on financial performance. Furthermore, financial performance is able to mediate the effect of capital structure on firm value as well as the effect of managerial ownership on firm value. These findings indicate that financing decisions and managerial ownership mechanisms not only have a direct impact on firm value but also operate through financial performance as a channel of influence. Therefore, optimal capital structure management and enhanced effectiveness of managerial ownership are important factors in improving firm value in a sustainable manner.
ANALYSIS OF PT ASTRA'S FINANCIAL REPORT INTERNATIONAL TBK Alya Zahwa; Cut Ulya Sabiba; Alya Dhiya Putri Erwin; Lafina Rima Dana; Jariah Abubakar
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.296

Abstract

Study This aim For analyze performance PT Astra International Tbk finance through approach analysis ratio finances which include ratio liquidity , solvency , profitability , activity , and market ratios during 2019–2023 period . Research This motivated by the importance of evaluation performance finance company conglomerate big , especially in face pressure global economy due to COVID-19 pandemic and phases recovery post-pandemic . Research methods used is method descriptive quantitative with using secondary data in the form of report finance PT Astra International Tbk 's annual earnings from report official companies and the Indonesian Stock Exchange . Data analysis techniques were carried out with calculate and interpret various ratio Financial indicators , including Current Ratio, Debt to Equity Ratio (DER), Return on Assets (ROA), Total Asset Turnover (TATO), Price Earnings Ratio (PER), Price to Book Value (PBV), and dividend yield. show that PT Astra International Tbk own level secure liquidity and solvency , resilient profitability , and efficiency relative activity good . In addition , the market ratio shows that share ASII is at a fair valuation with Power pull investment term strong length . Findings This indicates that PT Astra International Tbk have healthy financial fundamentals and be able to guard stability performance in the middle uncertainty economy .
ANALYSIS OF FINANCIAL REPORTS OF PT. BISI INTERNASIONAL TBK IN 2024 Savina Alhidrah; Sri Erdini; Dara Aulia; Afdhalul Ramadhan; ichsan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.299

Abstract

This study aims to analyze the financial performance of PT BISI International Tbk for the year 2024 using financial statement analysis. The research focuses on evaluating the company's financial condition through liquidity, solvency, profitability, activity, and market ratios based on audited consolidated financial statements. The method applied is descriptive quantitative analysis by calculating and interpreting relevant financial ratios, including current ratio, quick ratio, debt to asset ratio, debt to equity ratio, gross profit margin, net profit margin, return on assets, return on equity, total asset turnover, inventory turnover, receivable turnover, earnings per share, price earning ratio, dividend per share, and dividend payout ratio. The results indicate that PT BISI International Tbk has a very strong liquidity position and a conservative capital structure with low financial risk. Profitability ratios show the company's ability to generate stable profits, although efficiency in asset utilization and inventory management still requires improvement. From the market perspective, the company demonstrates positive performance as reflected by favorable earnings per share and a balanced dividend policy. Overall, the analysis shows that PT BISI International Tbk is in a healthy and stable financial condition, making it attractive to investors while still providing opportunities for operational efficiency enhancement.
ANALYSIS RATIO FINANCE COMPANY PT MAYORA BEAUTIFUL TBK PERIOD 2020-2024 Tahara Alsura; Lisa Aulia; Aiyuni Maulia; Uswatun Hasanah; Herman Fithra
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.300

Abstract

This study aims to analyze the financial performance of PT Mayora Indah Tbk based on financial ratio analysis. during period 2020–2024. Method study Which used is method descriptive quantitative using secondary data in the form of the company's annual financial reports. The analysis was conducted using liquidity, solvency, profitability, activity, and market ratios to assess the company's ability to meet financial obligations, generate profits, manage assets, and create value for investors. The research results show that PT Mayora Indah Tbk The company's financial performance remains relatively stable and is trending upwards after experiencing pressure in 2021. Liquidity and solvency ratios are at safe levels, demonstrating the company's ability to maintain financial stability. Profitability ratios improved significantly through 2023, though a correction occurred in 2024, but remained in the good category. Ratio activity show that management receivables walk efficient, although optimization asset utilization Still need improved. Temporary That, ratio market show perception investors Which positive to Company performance and prospects. Overall, the analysis shows that PT Mayora Indah Tbk has a healthy financial condition and good prospects to support future business sustainability
ANALYSIS OF GREEN BANKING PRACTICES USING THE ENVIRONMENTAL RISK INDEX AND ITS IMPACT ON THE FINANCIAL PERFORMANCE OF BANKS LISTED ON THE INDONESIAN STOCK EXCHANGE Amalia Fitri; Chairil Akhyar; Marzuki; Ghazali Syamni
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.301

Abstract

This study analyzes the effect of green banking practices on the financial performance of banks in Indonesia using the Environmental Risk Index (ERI) as a proxy. Panel data from seven banks listed on the Indonesian Stock Exchange for the period 2018-2024 were analyzed using the Entropy Weight Method and panel data regression. The results of the study reveal specific findings: ERI does not have a significant effect on ROA and NIM, but it has a negative and significant effect on ROE. These findings strongly indicate that the implementation of green banking in Indonesia is still in a transitional phase. The short-term costs arising from sustainability initiatives have been statistically proven to burden the rate of return on equity (shareholder's return), although their impact on asset-based profitability (ROA) and interest margin (NIM) has not yet been observed. This study provides important implications for banks and regulators that sustainability strategies need to be optimized to align with value creation for shareholders.
ANALYSIS REPORT FINANCE PT. TELKOM INDONESIA (LIMITED) TBK 2023-2024 PERIOD Dea Amanda; Miftahul Jannah; Nabila Nur Ayuni Balqis; Toha; Aiyub
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.302

Abstract

This study aims to evaluate the financial performance of PT Telkom Indonesia (Persero) Tbk during the 2023-2024 period using financial ratio analysis. As the largest state-owned telecommunications company, Telkom faces the challenges of digital transformation and dynamic market competition. The research method used is descriptive comparative, processing secondary data from the company's annual financial reports, including the balance sheet and income statement. The analysis results show that the company's liquidity has improved, as evidenced by the Current Ratio, which rose from 0.78 to 0.82, although still below the ideal standard. In terms of solvency, the company maintains a healthy capital structure with a Debt to Asset Ratio (DAR) of 46%. However, profitability is under pressure, with a decline in Net Profit Margin (NPM) to 20.5% due to increased operating expenses. The activity ratio also recorded a slowdown in accounts receivable turnover to 12.30 times. Overall, Telkom has strong financial fundamentals but needs to improve operational efficiency and optimize accounts receivable collection to maintain future growth.
THE EFFECT OF PROFITABILITY, LEVERAGE, AND COMPANY SIZE ON TAX AVOIDANCE IN MANUFACTURING COMPANIES LISTED ON THE IDX Intan Ulia; Jummaini; Ghazali Syamni; Wardhiah
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.282

Abstract

This research is to look at the influence of profitability, leverage and company size on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange. 2017-2021 period. Research data can be accessed on the official website www.idx.co.id. The sampling method used purposive sampling and obtained 34 companies. The data analysis technique in this research uses the Panel Data Regression method with the Eviews 10 software tool. This type of research is quantitative research. The data used in this research is secondary data. The data collection technique used in this research using the documentation method was carried out using annual financial report data from manufacturing companies listed on the Indonesian stock exchange. The research results found that the profitability and leverage variables had no effect on tax avoidance, and the company size variable had a positive and significant effect on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange.
THE EFFECT OF FINANCIAL RATIOS ON PROFIT GROWTH IN MINING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE Gembira Marbun
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.287

Abstract

This study investigates the influence of financial ratios on the profit growth of mining companies listed on the Indonesia Stock Exchange (IDX) from 2017 to 2020. Specifically, it examines the impact of four financial ratios: Current Ratio (CR), Debt to Asset Ratio (DAR), Total Asset Turnover (TATO), and Return on Assets (ROA). A multiple linear regression analysis is employed to analyze the data. The findings reveal that each of the ratios significantly influences profit growth, both individually and collectively. The study highlights that CR, DAR, TATO, and ROA are essential indicators for assessing the financial health of mining companies and can predict future profit growth. These results are valuable for investors and creditors in making informed decisions regarding investments in the mining sector. The study contributes to the growing body of literature on financial performance analysis and offers practical insights for both researchers and industry professionals.
ANALYSIS FACTOR RISK GEOPOLITICS AND GLOBAL INFLATION AGAINST MOTIVATION OF INDONESIAN PEOPLE TO INVEST GOLD Rakesh Sitepu; Anis Satu Rofiah; Arif Mustofa; Dwi Jeni Astutie; Erik Aprizal
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.295

Abstract

This study examines the impact of geopolitical risk and global inflation on gold investment motivation am ong Indonesian investors, with perceived uncertainty acting as an intervening variable. Using a quantitative approach, data were collected from 250 respondents and analyzed through Structural Equation Modeling Partial Least Squares (SEM-PLS). The results indicate that geopolitical risk has a significant positive effect on perceived uncertainty, whereas global inflation does not exhibit a significant influence. Furthermore, neither geopolitical risk, global inflation, nor perceived uncertainty directly affect gold investment motivation. Mediation analysis confirms that perceived uncertainty does not significantly transmit the effects of macroeconomic pressures to gold investment motivation. These findings suggest that gold investment behavior in Indonesia is not solely driven by macroeconomic uncertainty but may depend on heterogeneous behavioral patterns. The study contributes to the behavioral finance literature by highlighting the limited direct role of global risk factors in shaping gold investment motivation and offers insights for policymakers and financial institutions in designing adaptive gold investment strategies.
MULTIDIMENSIONAL PERSPECTIVES ON CLIMATE CHANGE MITIGATION AND ADAPTATION: A SYNTHESIS OF ECONOMIC, SOCIAL, AND ENVIRONMENTAL STRATEGIES Tutut Alamin; Pradhita Nurika Ramadani; Rahadian Bayu Riandana; Nadratul Aini; Navy Jihan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i3.297

Abstract

Climate change presents a multifaceted global challenge requiring comprehensive strategies across economic, social, and environmental dimensions. This study aims to synthesize recent research findings regarding climate change mitigation and adaptation strategies, ranging from corporate governance and economic modeling to grassroots agricultural innovations and psychological responses. A comprehensive literature review method was employed to analyze nine recent scholarly articles focusing on diverse aspects of the climate crisis. The synthesis reveals three key themes: (1) The critical role of corporate governance, including board diversity and accounting standards, in managing climate risk; (2) The necessity of technological and policy interventions in agriculture and urban planning to mitigate heat and ensure food security; and (3) The significant impact of psychological and health factors, where emotional responses to climate change drive pro-environmental behavior. The study concludes that effective climate action requires an integrated approach that combines high-level policy frameworks with community-based innovations and psychological engagement .

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