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Manajemen Bisnis dan Keuangan Korporat
Published by Yayasan Widyantara Nawasena Raharja
ISSN : 29886899     EISSN : 29886023     DOI : https://doi.org/10.58784/mbkk
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Manajemen Bisnis dan Keuangan Korporat is a double peer-reviewed journal published by the Yayasan Widyantara Nawasena Raharja. Manajemen Bisnis dan Keuangan Korporat will publish the articles bi-annually. The article submitted to Manajemen Bisnis dan Keuangan Korporat is written in Indonesian and it is not under consideration or published by other publishers.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 119 Documents
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Pengaruh perputaran kas, perputaran persediaan terhadap return on assets pada PT. Unilever Indonesia Tbk periode 2015-2024 Karundeng, Tesalonika Syalomita; Lambey, Robert; Kalalo, Meily Y.B.
Manajemen Bisnis dan Keuangan Korporat Vol. 3 No. 2 (2025)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.422

Abstract

This study investigates the effect of cash turnover and inventory turnover as key indicators of working capital management on Return on Assets (ROA) at PT Unilever Indonesia Tbk during the 2015–2024 period. Employing a quantitative explanatory research design, this study uses quarterly secondary data obtained from the company’s published financial statements, comprising 40 observations. The data are analyzed using multiple linear regression after meeting classical assumption requirements. The results reveal that cash turnover has a positive and statistically significant effect on ROA, indicating that efficient cash utilization enhances corporate profitability. Inventory turnover also exerts a positive and significant influence on ROA, reflecting the importance of inventory efficiency in optimizing asset performance. Furthermore, both variables simultaneously have a significant impact on ROA, demonstrating the critical role of effective working capital management in corporate financial performance. These findings are consistent with signaling theory, where efficient asset management conveys positive signals regarding firm value and operational efficiency to investors. This study provides empirical evidence that strengthening cash and inventory turnover is essential for improving profitability and financial efficiency in large manufacturing firms within the consumer goods sector.
Analisis metode pencatatan dan penilaian persediaan berdasarkan PSAK 14 pada PT. Hasjrat Abadi Manado Simatupang, Yulindah Roma Parsaulian; Saerang, David Paul Elia; Lambey , Robert
Manajemen Bisnis dan Keuangan Korporat Vol. 3 No. 2 (2025)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.425

Abstract

Inventory plays a strategic role as a current asset in trading companies, particularly in the automotive sector where products have high value and are prone to slow turnover. This study aims to analyze the methods of recording and valuation of car inventory at PT. Hasjrat Abadi Manado and to evaluate their compliance with PSAK 14. The research employs a qualitative approach with a case study design. Data were collected through observations, semi-structured interviews, and documentation, and analyzed using descriptive qualitative techniques by comparing company practices with the provisions of PSAK 14. The results show that the company has implemented a perpetual inventory recording method supported by a computerized Dealer Management System (DMS), which is consistent with PSAK 14. In addition, the valuation of car inventory uses the specific identification method, which is appropriate given the unique characteristics of each vehicle unit. However, the study finds that the company has not recognized impairment for slow-moving car inventory, even though its net realizable value has declined due to significant sales discounts. This practice is not fully in accordance with the lower of cost or net realizable value principle as required by PSAK 14. These findings highlight the need for improved inventory valuation policies to enhance the reliability of financial reporting.
Determinan kebijakan dividen dalam perspekif kinerja keuangan Kakiay, Gretalia Firanti; Lintong, Diana Nova
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.426

Abstract

This study investigates the effect of financial performance on dividend policy in property and real estate companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. Financial performance is proxied by profitability (Return on Assets), liquidity (Current Ratio), and leverage (Debt to Equity Ratio), while dividend policy is measured using the Dividend Payout Ratio. Employing a quantitative associative approach, this study analyzes secondary data obtained from annual financial statements of nine firms selected through purposive sampling, resulting in 36 firm-year observations. Multiple linear regression is used to test the proposed relationships. The empirical results indicate that profitability and liquidity do not have a significant effect on dividend policy, whereas leverage has a negative and significant effect. These findings suggest that firms with higher debt levels tend to prioritize debt repayment over dividend distribution. This study contributes to the dividend policy literature by providing empirical evidence from the post-pandemic period and highlighting the dominant role of leverage in dividend decisions within Indonesia’s property and real estate sector.
Pengaruh kinerja keuangan terhadap kebijakan dividen pada perusahaan sektor properti yang terdaftar di Bursa Efek Indonesia periode 2020-2024 Harikatan, Kristianto; Tinangon, Jantje J.; Kalalo, Meily Y. B.
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.427

Abstract

This study examines the effect of financial performance on dividend policy in property sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. Financial performance is proxied by Return on Equity (ROE), Current Ratio (CR), and Debt to Equity Ratio (DER), while dividend policy is measured using the Dividend Payout Ratio (DPR). The property sector is selected due to its capital-intensive characteristics, which make dividend distribution and profit retention critical managerial decisions. The sample consists of 10 property companies selected through purposive sampling, yielding 50 firm-year observations. Secondary data were analyzed using multiple linear regression. The results indicate that ROE has a positive and significant effect on DPR, suggesting that higher profitability increases firms’ capacity to distribute dividends. In contrast, CR and DER exhibit negative and significant effects on DPR, implying that higher liquidity and leverage encourage firms to retain earnings to support internal financing and debt obligations. The coefficient of determination (R²) of 0.923 indicates that the proposed model explains 92.3% of the variation in dividend policy. These findings highlight the trade-off between profitability, liquidity management, and capital structure in shaping dividend policy within capital-intensive industries such as property. The study provides important implications for investors and corporate managers in assessing the sustainability of dividend payments in the Indonesian property sector.
Pengaruh loan to deposit ratio (LDR), dan return on equity (ROE) terhadap harga saham pada perusahaan sektor perbankan yang terdaftar di Bursa Efek Indonesia tahun 2022-2024 Inggo, Regita Frizchila; Pangerapan, Sonny; Tangkuman, Steven J.
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.432

Abstract

Stock prices reflect firm value and serve as a key reference for investors’ decision-making in the capital market. This study examines the effect of the Loan to Deposit Ratio (LDR) and Return on Equity (ROE) on the stock prices of banking companies listed on the Indonesia Stock Exchange during the 2022–2024 period. Using a quantitative approach, the study applies purposive sampling to obtain 41 banking firms, resulting in 123 firm-year observations. Multiple linear regression analysis is employed using IBM SPSS 27. The results indicate that LDR has a positive and statistically significant effect on stock prices, suggesting that banks’ effectiveness in channeling third-party funds into credit acts as a positive signal to investors regarding liquidity management and income generation. Likewise, ROE shows a positive and significant influence on stock prices, indicating that higher profitability enhances investor confidence in management’s ability to generate returns from shareholders’ equity. These findings support signaling theory, which posits that financial performance indicators convey important information to the market and influence investor behavior. The study implies that liquidity and profitability ratios are fundamental considerations for investors in valuing banking stocks and for bank management in maintaining market credibility.
Analisis pengendalian biaya operasional terhadap peningkatan laba pada PT Aquwar Bintang Semesta Kho, Evan Leandro; Sondakh, Jullie J.; Lintong, Diana N.
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.436

Abstract

This study aims to analyze the effectiveness of operating cost control in supporting profit growth at PT Aquwar Bintang Semesta during the 2023–2024 period. The research employs a descriptive quantitative approach using variance analysis and the Operating Expense to Operating Revenue Ratio (BOPO) to evaluate cost efficiency. The data consist of budgeted and actual operating costs, operating revenues, and profit figures obtained from the company’s financial records. The results show that in both 2023 and 2024, total realized operating costs remained below the budgeted amounts, resulting in favorable variances of IDR 119,068,950 and IDR 91,042,900, respectively. Although several cost components experienced unfavorable variances, overall cost control was maintained effectively. The BOPO ratio slightly increased from 72.18% in 2023 to 72.45% in 2024, indicating a marginal decline in efficiency; however, the company still achieved higher profit growth in 2024. These findings suggest that effective operating cost control contributes positively to profit improvement, although continuous monitoring of specific cost components is required to enhance operational efficiency.
Akuntansi pendapatan kontrak pada PT Kumala Motor Cemerlang (Honda KMG Manado) Leonardo Tindige; Claudia W. M. Korompis; Olivia Y. M. Sardjono
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.450

Abstract

This study evaluates the alignment of revenue accounting practices for after-sales services with PSAK 115 (Revenue from Contracts with Customers) at PT Kumala Motor Cemerlang (Honda KMG Manado). As after-sales transactions involve complex service-order cycles, ensuring precise revenue treatment is critical for financial reporting integrity in the automotive sector. Operational and accounting workflows. Data were triangulated through primary interviews with key personnel and a rigorous review of secondary sources, including service contracts, financial statements, and transaction vouchers. The results demonstrate that while the core pillars of revenue recognition and measurement largely adhere to PSAK 115, full compliance has not been achieved. Revenue recognition is appropriately triggered upon the satisfaction of performance obligations (completion of service and vehicle handover). However, a significant compliance gap exists in the disclosure domain. The company fails to provide granular information regarding contract characteristics, specific timing of performance obligation fulfillment, and the financial risks associated with customer payment delays. Additionally, the lack of explicit separation between contract assets and accounts receivable in the financial statements indicates a need for structural reporting refinements. This study underscores the necessity for automotive entities to enhance transparency in their disclosure notes to meet the rigorous demands of PSAK 115. The findings suggest that professional training and system-wide integration of contract-based accounting are essential to mitigate reporting inconsistencies.
Analisis penggunaan anggaran biaya operasional dan pendapatan dalam menilai kinerja keuangan pada PT. Gerbang Nusa Perkasa di Manado Aror, Junike Tesalonika; Saerang, David P. E.; Gerungai, Natalia Y. T.
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.434

Abstract

This study examines the role of operational cost and revenue budgeting in assessing firm performance by integrating budget variance analysis with financial ratio evaluation. Prior studies predominantly rely on financial ratios without explicitly linking them to budget effectiveness, creating a research gap in performance assessment frameworks. Using a case study approach on PT. Gerbang Nusa Perkasa, this research employs a mixed analytical framework combining variance analysis and liquidity, solvency, and profitability ratios. The findings reveal that although the firm demonstrates strong profitability and liquidity, budget variance analysis uncovers inefficiencies in cost planning that are not captured by traditional ratio analysis. This study contributes by proposing a more comprehensive performance evaluation model that links budgeting effectiveness with financial outcomes.
Pengaruh capital structure, firm size dan profitability terhadap firm value pada perusahaan LQ-45 yang terdaftar di Bursa Efek Indonesia tahun 2021-2024 Sengkey, Michael; Wokas, Heince R. N.; Korompis, Claudia W. M.
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.453

Abstract

Firm value reflects the market's perception of corporate performance and prospects, influenced by various financial decisions; however, empirical evidence on the direction and consistency of these effects remains inconclusive, particularly among highly liquid companies. This study aims to examine the effect of capital structure, firm size, and profitability on firm value in LQ-45 index companies listed on the Indonesia Stock Exchange for the 2021–2024 period. A quantitative associative approach was employed using secondary data derived from annual financial reports. Samples were selected through purposive sampling, yielding 26 companies from a population of 45, resulting in 75 valid observations after outlier screening. Data were analyzed using multiple linear regression. The findings indicate that capital structure has a significant positive effect on firm value, firm size has a significant negative effect on firm value, and profitability has a significant positive effect on firm value. Simultaneously, all three variables significantly influence firm value. These findings support signalling theory, suggesting that corporate financial decisions serve as signals to investors, and imply that management must balance asset expansion with improved operational effectiveness to optimize firm value.

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