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Mohd. Winario
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mohd.winario@universitaspahlawan.ac.id
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Sharing: Journal Of Islamic Economics, Management And Business
Published by Universitas Pahlawan Tuanku Tambusai
ISSN : 29648645     EISSN : 29853370     DOI : https://doi.org/10.31004/sharing
Core Subject : Economy,
Economics, Econometrics & Finance
Journal title : Sharing: Journal of Islamic Economics, Management and Business Initials : Sharing Frequency : 2 issues per Year P-ISSN : 2964-8645 E-ISSN : 2985-3370 Editor in Chief : Dr. Mohd. Winario Publisher : Department of Islamic Economics, Universitas Pahlawan Tuanku Tambusai
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): Desember 2025" : 6 Documents clear
Analisis Rasio Keuangan Untuk Menilai Kinerja Keuangan Pada PT. Astra Internasional, Tbk isti, Nuristiqamah; Alwi, Alwi; Pratiwi, Aliah
Sharing: Journal of Islamic Economics Management and Business Vol. 4 No. 2 (2025): Desember 2025
Publisher : Program Studi Ekonomi Syariah Fakultas Agama Islam Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/sharing.v4i2.49989

Abstract

This study aims to analyze the financial performance of PT Astra International Tbk using a financial ratio analysis approach. The financial ratios analyzed include liquidity, solvency, activity, and profitability ratios. This research is a descriptive study with a quantitative approach, utilizing annual financial statements of PT Astra International Tbk that are officially published through the Indonesia Stock Exchange. The results of the analysis indicate that the company’s liquidity ratios are in a fairly good category, reflecting its ability to meet short-term obligations. The solvency ratios show that the company’s dependence on debt remains under control, resulting in relatively low financial risk. The activity ratios indicate that the effectiveness of the company in utilizing assets to generate sales is still fluctuating. Meanwhile, the profitability ratios show fairly good performance, although there is a decline in certain periods. Overall, the financial performance of PT Astra International Tbk can be considered fairly stable and sound. However, the company needs to continuously improve the effectiveness of asset management and maintain profitability in order to remain competitive amid market dynamics.
Struktur Modal, Debt to Equity Ratio (DER), Net Profit Margin (NPM), PT Gudang Garam Tbk Junaidin, Junaidin; Nurulrahmatia, Nafisah; Ovriyadin, Ovriyadin
Sharing: Journal of Islamic Economics Management and Business Vol. 4 No. 2 (2025): Desember 2025
Publisher : Program Studi Ekonomi Syariah Fakultas Agama Islam Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/sharing.v4i2.50092

Abstract

This study aims to analyze the effect of capital structure, proxied by the Debt to Equity Ratio (DER), on profitability as measured by the Net Profit Margin (NPM) at PT Gudang Garam Tbk during the 2014–2023 period. Capital structure is one of the fundamental aspects of corporate financial management because it is directly related to funding sources, financial risk, and the cost burden borne by the company. The use of an unoptimal composition of debt and equity may lead to a decline in net profit. The data used in this study are secondary data in the form of annual financial statements obtained from the official websites of the Indonesia Stock Exchange (IDX) and PT Gudang Garam Tbk. The analytical method applied is simple linear regression, using SPSS version 26, which aims to determine the partial effect of DER on NPM. The results indicate that capital structure has a positive and significant effect on Net Profit Margin. These findings suggest that appropriate management of capital structure, through a balance between debt and equity usage, can improve operational efficiency and enhance corporate profitability. Therefore, the management of PT Gudang Garam Tbk is advised to continuously evaluate its capital structure proportions to maintain financial stability and improve sustainable net profit performance.
Analisis Pengaruh Kebijakan Deviden Terhadap Harga Saham Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Berliana, Febi; Munandar, Aris; Muthiah, Hanifah
Sharing: Journal of Islamic Economics Management and Business Vol. 4 No. 2 (2025): Desember 2025
Publisher : Program Studi Ekonomi Syariah Fakultas Agama Islam Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/sharing.v4i2.50161

Abstract

This study aims to analyze the effect of dividend policy on stock prices of manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Dividend policy is considered an important factor in financial management because it can provide positive or negative signals to investors regarding a company’s prospects. This study employs a quantitative approach with a sample of five manufacturing companies in the basic materials sector selected through purposive sampling. The data were obtained from annual financial statements published on the official IDX website. The analytical technique used is panel data regression, preceded by classical assumption tests as prerequisites. The results show that dividend policy, measured by the Dividend Payout Ratio (DPR), has a positive and significant effect on stock prices, which are measured by the Price Earnings Ratio (PER). This is evidenced by a t-test significance value of 0.006 < 0.05 and an R² value of 27.4%, indicating that the dividend policy variable explains 27.4% of the variation in stock prices, while the remaining variation is influenced by other factors. These findings confirm that dividend policy plays an important role in shaping investor perceptions and influencing the market value of a company. This study is expected to provide insights for company management in making profit distribution decisions and for investors in determining more rational investment strategies.
Analisis Pengaruh Biaya Operasional Pendapatan Operasional Dan Net Profit Margin Terhadap Pertumbuhan Laba Pada Bank Mandiri Mantika, Marangga; Alwi, Alwi; Nurulrahmatia, Nafisah
Sharing: Journal of Islamic Economics Management and Business Vol. 4 No. 2 (2025): Desember 2025
Publisher : Program Studi Ekonomi Syariah Fakultas Agama Islam Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/sharing.v4i2.50178

Abstract

This study aims to analyze the effect of operating costs, operating income, and Net Profit Margin (NPM) on profit growth at PT Bank Mandiri (Persero) Tbk. The study uses secondary data in the form of annual financial statements, which are analyzed using a quantitative approach. The analytical methods employed include multiple linear regression, partial testing (t-test), simultaneous testing (F-test), and the coefficient of determination to measure the contribution of each variable to profit growth. The results indicate that operating costs have a negative and significant effect on profit growth, suggesting that an increase in operating costs can reduce the bank’s profitability performance. In contrast, operating income and Net Profit Margin (NPM) have a positive and significant impact on profit growth, indicating that higher operating income and efficient profit management play an important role in improving the company’s financial performance. Simultaneously, operating costs, operating income, and NPM have a significant effect with a substantial contribution to profit growth, while the remaining variation is explained by other factors outside the research model. These findings emphasize the importance of cost efficiency, increasing operating income, and strengthening profit margins to ensure Bank Mandiri remains competitive in the increasingly intense national banking industry.  
Analisis Perkembangan Return On Asset (ROA) Dan Return On Equity (ROE) Untuk Mengukur Kinerja Keuangan Pada PT. Industri Jamu Dan Farmasi Sidomuncul, Tbk. Rahmatullah, Amin; Nurhayati, Nurhayati; Munandar, Aris
Sharing: Journal of Islamic Economics Management and Business Vol. 4 No. 2 (2025): Desember 2025
Publisher : Program Studi Ekonomi Syariah Fakultas Agama Islam Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/sharing.v4i2.50279

Abstract

The purpose of this study is to examine how well Return on Assets (ROA) measures the financial performance of PT Industri Jamu dan Farmasi Sidomuncul, Tbk, and how well Return on Equity (ROE) measures the company’s financial performance. The data analysis technique employed in this study is a quantitative method, involving relevant calculations related to the research problem. Descriptive analysis is conducted on the Return on Assets (ROA) and Return on Equity (ROE) ratios, which are then interpreted by comparing them with the industry average standards for ROA and ROE. In addition, this study applies statistical analysis using a one-sample t-test with the assistance of SPSS version 22. Based on the results and discussion, it can be concluded that the Return on Assets (ROA) used to measure the financial performance of PT Industri Jamu dan Farmasi Sidomuncul, Tbk is greater than or equal to 5.98%, which meets the expected standard and is considered good. Likewise, the Return on Equity (ROE) used to measure the company’s financial performance is greater than or equal to 8.32%, which also meets the expected standard and is considered good.
Apakah BUMD Masih Relevan? (Kajian Literatur) Amdanata, Donal Devi; Annisava, Aulia Rani; Burhan, Burhan
Sharing: Journal of Islamic Economics Management and Business Vol. 4 No. 2 (2025): Desember 2025
Publisher : Program Studi Ekonomi Syariah Fakultas Agama Islam Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/sharing.v4i2.52484

Abstract

This study aims to reassess the relevance of Regional-Owned Enterprises (BUMD) in supporting regional economic development in Indonesia by examining scientific literature that discusses their position, challenges, and effectiveness within the framework of modern governance and regulatory dynamics. Employing a qualitative literature review approach, this research synthesizes findings from primary sources, including national and international journals, that address legal, managerial, financial, governance, and political aspects of BUMD operations. The findings reveal that the current relevance of BUMD is increasingly questioned due to several critical issues, such as regulatory gaps and ambiguities, weak implementation of good corporate governance principles, limited and often non-professional human resources, high levels of political intervention, and the dualism in legal forms and governance structures between Perseroda and Perumda. Moreover, significant differences in oversight mechanisms between BUMD and state-owned enterprises (BUMN) contribute to greater legal uncertainty, heightened risks of criminalizing managerial decisions, and hindered managerial professionalism. Nevertheless, the potential for strengthening BUMD remains open through regulatory harmonization, enhanced oversight systems, management professionalization, and stricter application of governance standards. This study concludes that the sustainability and relevance of BUMD depend heavily on comprehensive reforms in regulation and governance to ensure that BUMD can effectively function as accountable drivers of regional development.

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