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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 6 Documents
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Search results for , issue "Vol. 4 No. 3 (2026): January - ON PROGRESS" : 6 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 - ON PROGRESS
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 - ON PROGRESS
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 - ON PROGRESS
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 - ON PROGRESS
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 - ON PROGRESS
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 - ON PROGRESS
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.

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