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Ekonomi Digital
Published by PT. Cendekia Sapta Indonesia
ISSN : -     EISSN : 28283740     DOI : https://doi.org/10.55837/ed
Core Subject : Economy,
Economics, Econometrics & Finance
Ekonomi Digital is published by PT. Cendekia Sapta Indonesia as publisher. The editorial receives general writing, advance economies, business, accounting and management areas in which no other media has ever been published and reviews of new economic, business, acounting and management books. Preferred writing is the result of field research or literature review. The evaluation process of papers submitted depends entirely on the "Blind Review" designated by the editor in chief in accordance with the reviewer’s expertise. Ekonomi Digital is published twice a year, precisely February and October. Each issue number is minimum 5 (Five) articles title.
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. 2 (2025): Oktober" : 6 Documents clear
Asimetri Informasi sebagai Pemoderasi Pengaruh Kekuatan Pasar dan Tekanan Keuangan terhadap Real Earnings Management Haq, Aqamal; Murwaningsari, Etty
Ekonomi Digital Vol. 4 No. 2 (2025): Oktober
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/ed.v4i2.177

Abstract

This study investigates the impact of financial distress, market power, and information asymmetry on real earnings management (REM) practices in consumer goods companies in Indonesia. The analysis is based on panel data comprising 184 firm-year observations from the consumer cyclical and non-cyclical sectors listed on the Indonesia Stock Exchange during the 2022–2023 period. REM is measured using abnormal cash flow from operations (Abnormal CFO), which refers to deviations in cash flow from normal operating levels, based on the Roychowdhury (2006) model. Financial distress is assessed through the Altman Z-Score, market power is measured using the Herfindahl-Hirschman Index (HHI), and information asymmetry is proxied by the bid-ask spread. The study further explores the moderating role of information asymmetry in the relationship between financial distress, market power, and REM. Data analysis employs a panel data regression using the Random Effects Model, following classical assumption tests and the Breusch-Pagan Lagrange Multiplier (LM) Test. The results reveal that financial distress (Z-Score), information asymmetry (bid-ask spread), the interaction terms of information asymmetry with financial distress (AI_FINDIS) and market power (AI_MS), and firm size have significant effects on REM. In contrast, market power (HHI) and leverage do not exhibit statistically significant effects. These findings suggest that financially healthier firms tend to exhibit greater flexibility in engaging in REM, while information asymmetry serves as a key contextual factor that can either amplify or attenuate the influence of other variables on REM behavior. This study offers a novel contribution by developing the REM Index Plus, which integrates multiple dimensions of real activity manipulation to improve detection accuracy in REM measurement. The results reveal that financial distress (Z-Score), information asymmetry (bid-ask spread), the interaction terms of information asymmetry with financial distress (AI_FINDIS) and market power (AI_MS), and firm size have significant effects on REM. In contrast, market power (HHI) and leverage do not exhibit statistically significant effects. These findings suggest that financially healthier firms tend to exhibit greater flexibility in engaging in REM, while information asymmetry serves as a key contextual factor that can either amplify or attenuate the influence of other variables on REM behavior. This study contributes to the growing body of literature on earnings management in developing economies, particularly Indonesia, and offers practical implications for regulators, auditors, and investors to consider the presence of information asymmetry when evaluating earnings quality  
Prediktor-Prediktor Kebijakan Dividen: Studi Empiris Perusahaan Real Estat dan Properti Indonesia Ramadhany, Yasika Aulia; Sabe, Celine Catharine; Hartono, Powell Gian
Ekonomi Digital Vol. 4 No. 2 (2025): Oktober
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/ed.v4i2.179

Abstract

Purpose ― Penelitian ini bertujuan untuk menginvestigasi pengaruh profitabilitas, leverage, ukuran perusahaan, dan usia perusahaan terhadap kebijakan dividen pada perusahaan sektor real estat dan properti di Indonesia. Methods ― Studi ini menggunakan pendekatan kuantitatif berbasis data panel pada 20 perusahaan selama periode 2014–2023, dengan estimasi Random Effect Model (REM) berbasis Generalized Least Squares. Findings ― Hasil regresi menunjukkan bahwa profitabilitas dan usia perusahaan berpengaruh positif dan signifikan terhadap kebijakan dividen, sementara ukuran perusahaan berpengaruh negatif. Leverage menunjukkan pengaruh positif namun tidak searah dengan dugaan awal. Temuan ini mengindikasikan bahwa struktur keuangan internal dan kematangan siklus hidup perusahaan lebih dominan dalam memengaruhi kebijakan dividen dibandingkan skala perusahaan. Implication ― Hasil ini merekomendasikan perlunya penguatan kinerja laba dan optimalisasi struktur modal sebagai instrumen pengelolaan reputasi dan stabilitas pasar dalam kebijakan dividen. Originality ― Penelitian ini memberikan kontribusi kontekstual terhadap literatur kebijakan dividen di sektor properti negara berkembang, dengan menyoroti dinamika spesifik sektoral yang belum banyak terungkap dalam studi lintas negara.
Praktik Manajemen Laba pada Sektor Consumer Non-Cyclicals di Indonesia: Peran Free Cash Flow, Financial Distress dan Kualitas Audit Rachmaturrizqi; Mayangsari, Sekar
Ekonomi Digital Vol. 4 No. 2 (2025): Oktober
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/ed.v4i2.182

Abstract

This study aims to examine the effects of free cash flow, financial distress, and audit quality on earnings management. Employing a quantitative approach, the research utilizes secondary data from financial statements of consumer non-cyclical companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. The sample was selected using a purposive sampling method, resulting in 323 observations, which were analyzed using multiple linear regression techniques. The results reveal that both free cash flow and financial distress have a positive and significant effect on earnings management. Meanwhile, audit quality do not affect on earnings management. Among the control variables, firm size negatively affects earnings management, while leverage shows no significant effect. This research contributes to the existing literature by investigating the relationships between free cash flow, financial distress, and audit quality with earnings management, specifically within Indonesia's consumer non-cyclical sector. The study provides valuable insights into both financial and governance factors that drive earnings management practices among Indonesian corporations.
Pengaruh Kesulitan Keuangan, Likuiditas, Pertumbuhan Perusahaan, dan Masa Perikatan Audit Terhadap Pemberian Opini Audit Keberlangsungan Usaha Rani Melvina Pebriyani; Sekar Mayangsari
Ekonomi Digital Vol. 4 No. 2 (2025): Oktober
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/ed.v4i2.183

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh kesulitan keuangan, likuiditas, pertumbuhan perusahaan, dan masa perikatan audit terhadap pemberian opini keberlangsungan usaha. Data yang digunakan merupakan data panel dari 87 perusahaan di sektor healthcare dan infrastruktur yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2021–2023, dengan total 261 observasi yang diperoleh melalui teknik purposive sampling. Penelitian ini menggunakan pendekatan kuantitatif, dan analisis data dilakukan dengan regresi logistik karena variabel dependen, yaitu opini audit keberlangsungan usaha (going concern), bersifat kategorik. Analisis tersebut dibantu menggunakan software SPSS. Hasil pengujian hipotesis dalam penelitian ini menunjukkan bahwa kesulitan keuangan berpengaruh negatif terhadap pemberian opini audit keberlangsungan usaha. Sementara itu, likuiditas, pertumbuhan perusahaan, dan masa perikatan audit tidak berpengaruh terhadap pemberian opini audit keberlangsungan usaha. Temuan ini memberikan kontribusi penting bagi auditor dan pemangku kepentingan dalam menilai risiko keberlanjutan entitas. Kata kunci: Opini Audit Keberlangsungan Usaha; Kesulitan Keuangan; Likuiditas; Masa Perikatan Audit; Pertumbuhan Perusahaan.
Financial Ratios, Firm Size And Board Characteristics' Effect On Indonesia's Consumer Goods Sector Firm Value Uliansyah, Marji; Kristian Chandra; Farah Margaretha Leon
Ekonomi Digital Vol. 4 No. 2 (2025): Oktober
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/ed.v4i2.189

Abstract

This study aims to analyze the effect of leverage, profitability, firm size, liquidity, company growth, asset tangibility, board size, and frequency of board meeting on firm value. The dependent variable analyzed is firm value, while the independent variables include leverage, profitability, firm size, liquidity, company growth, asset tangibility, board size, and frequency of board meeting. The research sample focuses on companies in the primary consumer goods sector, specifically in the processed food, beverage, agricultural food products, and personal care product industries listed on the Indonesia Stock Exchange, with 47 companies selected based on specific characteristics relevant and aligned with the research objectives. Data analysis was conducted using multiple regression on panel data processed with data analysis software. The results show that firm value is negatively and significantly effected by firm size and board size. Meanwhile, profitability, liquidity, and asset tangibility have a positive and significant effect. Leverage, company growth, and frequency of board meeting have a positive correlation but do not significantly affect firm value. This study suggests that management should effectively manage profitability, liquidity, and asset tangibility to enhance firm value. Furthermore, investors are advised to prioritize companies with good profitability and liquidity while critically evaluating firm size and board size, which do not always guarantee higher firm value.
PENGARUH LOKASI DAN KUALITAS PELAYANAN TERHADAP KEPUASAN KONSUMEN PADA KOPI JANJI JIWA Institut Bisnis dan Komunikasi Swadaya (SWINS) Mulyadi; Marthen Asa
Ekonomi Digital Vol. 4 No. 2 (2025): Oktober
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/ed.v4i2.190

Abstract

The Influence of Location and Service Quality on Consumer Satisfaction at Kopi Janji Jiwa. The location of the cafe is an important element that influences how easily customers can visit the cafe. The quality of coffee and food products served in cafes including taste, freshness and menu variety are also significant factors in shaping customer perceptions. The aim of this research is to determine the quality of service on consumer satisfaction at Janji Jiwa coffee. Does service quality influence visitors to Janji Jiwa coffee? This type of research uses a quantitative approach with survey methods. Survey research is research that takes samples from a population and uses questionnaires as a data collection tool. This research was conducted at Jalan Perintis Independen Apartment Oak Apartments. No. Kav. 99 RT/RW 1/1 Pulo Gadung Kec. Pulo Gadung, East Jakarta City, Jakarta Capital City 13260 (1) Location has a significant and positive effect on consumer satisfaction with Kopi Janji Jiwa. (2) Service quality has a significant and positive influence on consumer satisfaction with Kopi Janji Jiwa. (3) Location and service quality simultaneously (together) have a significant effect on consumer satisfaction with Kopi Janji Jiwa. Based on the results of the analysis and testing of the third hypothesis (H3) using the F test (simultaneous) it was found that location and service quality simultaneously (together) had a significant effect on consumer satisfaction with Kopi Janji Jiwa. Multiple linear regression analysis also produces values R Square (R2) of 0.547, which means that the contribution of the influence of location variables and service quality to consumer satisfaction at Kopi Janji Jiwa is 54.7% and the remaining 0.453 (45.3%) is influenced by other variables not studied, such as: price, product quality, the quality of human resources, in this case the abilities/skills of the officers at Kopi Janji Jiwa, and so on. An influence contribution above 50% shows quite a large influence, this indicates that the location and quality of service have quite a large impact on consumer satisfaction, especially for visitors to Kopi Janji Jiwa.

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