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Veteran Economics, Management & Accounting Review
Published by Universitas Pembangunan Nasional Veteran Jakarta
ISSN : 29639832     EISSN : 29628830     DOI : https://doi.org/10.59664/vemar.v2i1
Core Subject : Economy, Humanities, Science, Education, Social,
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences
Veteran Economics, Management & Accounting Review (VEMAR) seeks to publish both theoretical and empirical papers in the fields of economics, management & accounting in private sector as well as public sector. VEMAR covers but is not limited to: Accounting Area: Financial Accounting Auditing Taxation Public Sector Accounting & Auditing Accounting information systems CSR and Sustainability Corporate Governance Management Accounting Islamic Accounting Accounting Education Management Area: Marketing Management Human Resource Management Production Management Financial Management Management Information System International Business Business Law Entrepreneurship Economics Area: Monetary Fiscal Environment and Natural resource Industrial Organization Regional and Urban Economics Sharia Economics
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 9 Documents
 1 
Search results for , issue "vol 4 no 2 (2026)" : 9 Documents clear
Peran Konflik Russia–Ukraina Terhadap Kinerja Keuangan Perusahaan Tambang yang Terdaftar Di Bursa Efek Indonesia Masripah Masripah; Mochammad Ilham
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.12474

Abstract

This research is a quantitative study that aims to find out about the condition of financial performance of oil, gas, and coal companies in Indonesia that listed on Indonesia Stock Exchange and do some comparation between before the conflict of Russia-Ukraine and after the conflict. This research is using three variables such as, return on asset, debt to equity ratio, and earning per share. There are 19 companies in total on this research that can be used as research sample after applying the purposive sample method. Hypotesis testing was carried out using STATA with Wilcoxon-rank test with level of significance by 5%. The results of the test obtained, 1) there are significant difference between return on asset before the conflict and after the conflict, 2) there are no significant difference between debt to equity ratio before the conflict and after the conflict, and 3) there are significant difference between earning per share before the conflict and after the conflict. Keywords: Russia-Ukraine conflict, return on asset, debt to equity ratio, and earning per share   Abstrak Penelitian ini merupakan studi kuantitatif yang bertujuan untuk mengetahui tentang kondisi kinerja keuangan perusahaan minyak, gas, dan batubara di Indonesia yang terdaftar di Bursa Efek Indonesia dan melakukan beberapa perbandingan antara sebelum konflik Rusia- Ukraina dan setelah atau pada saat terjadinya konflik Rusia-Ukraina. Penelitian ini menggunakan tiga variabel yaitu, return on asset, debt to equity ratio, dan earning per share. Total ada 19 perusahaan pada penelitian ini yang dapat dijadikan sampel penelitian setelah menerapkan metode purposive sample. Pengujian hipotesis dilakukan dengan menggunakan aplikasi statistic STATA dengan uji wilcoxon-rank test dengan tingkat signifikansi sebesar 5%. Hasil pengujian yang diperoleh, 1) terdapat perbedaan yang signifikan antara return on asset sebelum konflik dengan setelah konflik, 2) tidak terdapat perbedaan yang signifikan antara debt to equity ratio sebelum konflik dengan setelah konflik, dan 3) terdapat perbedaan yang signifikan antara earning per share sebelum konflik dengan setelah konflik. Kata Kunci: Konflik Rusia-Ukraina; Return On Asset; Debt To Equity Ratio; Dan Earning Per Share  
Evaluasi Kualitas Layanan Logistik dengan Importance Performance Analysis Javier Mahardika Permadi; Jenji Gunaedi Argo; Rosali Sembiring Colia
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.13652

Abstract

This study aims to test the quality of logistics Anteraja, using SERVQUAL method and Important Performance Analysis using five dimensions of SERVQUAL, namely Tangible, Assurance, Responsiveness, Reliability, and Empathy. This study uses a quantitative approach through a survey of 100 respondents. The results will be collected using a Google form and then will be processed through reliability and validity tests using SPSS and analyzed using SERVQUAL, which is subtracting perception and expectation score and then will be mapped through the Important Performance Analysis quadrant. Based on important performance analysis quadrant, six service atribut were found that need an immediate improvement such as the readiness of courier in delivering packages, the speed of customer service in responding to complaint or problem, the politeness of courier in their interaction with customer, the ability of employee toexplain the service offered, the timeliness of delivery by couriers in accourdance to their service, and the timeliness of pick up in accordance within the time range Keywords: IPA, SERVQUAL, Quality Service, Anteraja   Abstrak Penelitian ini bertujuan untuk menguji kualitas jasa logistik Anteraja menggunakan metode SERVQUAL dan Important Performance Analysis menggunakan lima dimensi SERVQUAL yaitu Tangible, Assurance, Responsiveness, Reliability, dan Empathy. Penelitian ini menggunakan pendekatan kuantitaif melalui survei terhadap 100 responden. Data akan dikumpulkan menggunakan google form lalu akan diolah melalui uji reabilitas dan uji validitas menggunakan SPSS dan dianalisa menggunakan SERVQUAL yaitu penguranganantara nilai persepsi dengan nilai harapan lau dipetakan melalui kuadran Important Performance Analysis. Berdasarkan kuadran Important Performance Analysis ditemukan 6 atribut layanan yang harus ditingkatkan dengan segera antara lain Kesigapan kurir dalammengantarkan paket kepada konsumen, Kecepatan customer service dalam menanggapi keluhanatau kendala konsumen, Kesopanan kurir dalam berinteraksi dengan konsumen, Kemampuan karyawan dalam menjelaskan layanan yang ditawarkan, Ketepatan waktu pengiriman oleh kurir sesuai layanan pengiriman, dan Ketepatan waktu pick up sesuai dengan rentang waktu.Kata Kunci: IPA, SERVQUAL, Kualitas Layanan, Anteraja,
Peta Riset Determinan Minat Karier Mahasiswa Akuntansi di Indonesia Amrie Firmansyah; Andy Setiawan; Dewi Darmastuti
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.13884

Abstract

This study aims to map the development of the literature on career interest among undergraduate accounting students in Indonesia in pursuing careers as accountants. A scoping review approach was employed to identify the characteristics of existing studies, the professional focus of accounting careers, the methodological approaches adopted, and the main thematic patterns that have emerged in the literature. The literature search was conducted using Publish or Perish with Google Scholar as the primary database, covering articles published between 2016 and 2025. Of the 96 articles initially identified, a systematic screening process involving title and abstract review, followed by full-text assessment, was applied using predefined inclusion and exclusion criteria. As a result, 68 articles were deemed eligible and included in the final scoping review. The mapping results indicate that research on accounting students' career interests in Indonesia predominantly uses quantitative survey methods. Thematically, the literature associates students' career interests with six main groups of factors: economic and financial considerations; labour market conditions and career prospects; professional perceptions and professional recognition; work environment; social influences; and individual or psychological factors. This scoping review provides a comprehensive overview of the directions and trends in research on accounting students' career interest in Indonesia and highlights areas that remain underexplored and warrant further investigation in future studies. Keywords: Career Interest; Accounting Students; Accounting Profession; Indonesia   Abstrak Penelitian ini bertujuan untuk memetakan perkembangan literatur mengenai minat karier mahasiswa sarjana dan diploma Akuntansi untuk menjadi akuntan di Indonesia. Penelitian menggunakan pendekatan scoping review untuk mengidentifikasi karakteristik studi, fokus profesi akuntan, pendekatan metodologis, serta tema-tema utama yang berkembang dalam literatur. Penelusuran literatur dilakukan menggunakan perangkat lunak Publish or Perish dengan basis data Google Scholar terhadap artikel yang dipublikasikan dalam rentang waktu 2016-2025. Dari total 96 artikel yang teridentifikasi pada tahap awal, dilakukan proses seleksi melalui screening judul dan abstrak serta penilaian full-text berdasarkan kriteria inklusi dan eksklusi yang telah ditetapkan. Hasil seleksi menunjukkan bahwa sebanyak 68 artikel memenuhi kriteria dan digunakan sebagai dasar pemetaan dalam scoping review ini. Hasil pemetaan menunjukkan bahwa penelitian mengenai minat karier mahasiswa akuntansi di Indonesia didominasi oleh pendekatan kuantitatif berbasis survei. Secara tematik, literatur mengaitkan minat karier mahasiswa dengan enam kelompok faktor utama, yaitu faktor ekonomi dan finansial, pasar kerja dan prospek karier, persepsi profesi dan pengakuan profesional, lingkungan kerja, faktor sosial, serta faktor individual dan psikologis. Pemetaan ini memberikan gambaran komprehensif mengenai arah dan kecenderungan penelitian minat karier mahasiswa akuntansi di Indonesia, sekaligus mengidentifikasi area kajian yang masih relatif terbatas dan berpotensi dikembangkan pada penelitian selanjutnya.                                  Kata Kunci: Minat Karier; Mahasiswa Akuntansi; Profesi Akuntan; Indonesia
Government Fund Placement and BRI Performance: Evidence from a Rp 55 Trillion Mira Rahmi; Tri Siswantini; Subur
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.14800

Abstract

This study examines the impact of government fund placement on the financial performance of PT Bank Rakyat Indonesia (Persero) Tbk (BRI) before and after the implementation of the government liquidity support program. A quantitative comparative approach was employed using monthly financial statement data from January 2025 to April 2026. Financial performance was measured using ROA, ROE, LDR, and BOPO. The observation period consisted of eight months before and eight months after the implementation of the policy in September 2025. Data were analyzed using descriptive statistics and the Wilcoxon Signed Rank Test. The results show that the government fund placement program significantly improved ROA and LDR, indicating enhanced asset profitability and stronger banking intermediation. These findings support Financial Intermediation Theory, which emphasizes the importance of liquidity in strengthening banks’ intermediary functions and improving financial performance. The study contributes to the literature by providing empirical evidence on the effectiveness of government liquidity intervention and offers practical insights for policymakers and bank management in evaluating liquidity support programs. Keywords: BOPO; Financial Performance; Government Fund Placement; LDR; Profitability.   Abstrak Studi ini menguji dampak penempatan dana pemerintah terhadap kinerja keuangan PT Bank Rakyat Indonesia (Persero) Tbk (BRI) sebelum dan sesudah penerapan program dukungan likuiditas pemerintah. Penelitian ini menggunakan pendekatan kuantitatif komparatif dengan memanfaatkan data laporan keuangan bulanan dari Januari 2025 hingga April 2026. Kinerja keuangan diukur menggunakan ROA, ROE, LDR, dan BOPO. Periode pengamatan mencakup delapan bulan sebelum dan delapan bulan sesudah kebijakan diterapkan pada September 2025. Data dianalisis menggunakan statistik deskriptif dan Wilcoxon Signed Rank Test. Hasil penelitian menunjukkan bahwa program penempatan dana pemerintah secara signifikan meningkatkan ROA dan LDR, yang mengindikasikan peningkatan profitabilitas aset dan penguatan fungsi intermediasi perbankan. Temuan ini mendukung Financial Intermediation Theory, yang menekankan pentingnya likuiditas dalam memperkuat fungsi intermediasi bank dan meningkatkan kinerja keuangan. Penelitian ini berkontribusi pada literatur dengan memberikan bukti empiris mengenai efektivitas intervensi likuiditas pemerintah serta memberikan wawasan praktis bagi pembuat kebijakan dan manajemen bank dalam mengevaluasi program dukungan likuiditas.  Kata kunci: BOPO; Dukungan Likuiditas; Kinerja Keuangan; LDR; Penempatan Dana Pemerintah;
Redefinisi Kualitas Layanan Perbankan di Era Transformasi Digital Ratna Arista Dewi; Warsidi; Abdul Aji Kresna Tri Anggara
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.15311

Abstract

This study, employing a PRISMA-based Systematic Literature Review (SLR) approach, aims to identify and categorize the key dimensions of digital service quality in the banking sector amidst the shift in customer preferences from physical to digital services. Out of 56 articles initially identified, a rigorous selection process based on inclusion and exclusion criteria was conducted, resulting 11 high reputable scientific articles (Q1 and Q2) published between 2016 and 2025 as the basis for analysis. The results demonstrate that digital banking service quality can be grouped into three main dimensional categories: the technical and system infrastructure dimension (cybersecurity, system reliability, and operational speed); the emotional and socio-contextual experience dimension (convenience, digital brand image, and the autonomy of artificial intelligence/AI features); and the omnichannel integration dimension. Furthermore, this study indicates a methodological shift in bank service quality assessment, moving from conventional, reactive questionnaires toward the proactive utilization of real-time customer review big data driven by machine learning. Consequently, future research is recommended to conduct empirical quantitative testing on app store reviews, while incorporating moderating variables such as digital financial literacy, age, and cyber fraud risks. Keywords: Customer Satisfaction, Service Quality, Digital Banking. Abstrak Penelitian kualitatif dengan pendekatan Systematic Literature Review (SLR) ini bertujuan untuk mengidentifikasi dan mengategorikan dimensi kualitas layanan digital pada sektor perbankan di tengah pergeseran preferensi nasabah dari layanan fisik ke digital. Dari total 56 artikel yang teridentifikasi pada tahap awal, dilakukan proses seleksi ketat berdasarkan kriteria inklusi dan eksklusi hingga menghasilkan 11 artikel ilmiah utama bereputasi tinggi (Q1 – Q3) yang terpublikasi pada periode 2016-2025 sebagai dasar analisis. Hasil pemetaan menunjukkan bahwa kualitas layanan digital perbankan dikelompokkan ke dalam tiga kategori dimensi utama, yaitu dimensi teknis dan infrastruktur sistem (keamanan siber, keandalan sistem, dan kecepatan operasional), dimensi pengalaman emosional dan sosio-kontekstual (kenyamanan, citra merek digital, dan kemandirian fitur kecerdasan buatan/AI), serta dimensi integrasi saluran (omnichannel integration). Selain itu, penelitian ini juga mengindikasikan adanya perubahan dalam penilaian kualitas layanan bank, darikuesioner konvensional menjadi ke pemanfaatan data massal (big data) ulasan nasabah secara real-time berbasis machine learning. Oleh karena itu, penelitian selanjutnya disarankan untuk melakukan pengujian kuantitatif pada ulasan aplikasi, serta mempertimbangkan variabel moderasi seperti literasi keuangan digital, usia, dan risiko penipuan siber. Kata Kunci: Kepuasan Nasabah, Kualitas Layanan, Perbankan Digital  
Apakah Event Marketing dan Brand Experience mampu meningkatkan Loyalitas Konsumen Coffee Shop? Riki Aksan Aji Ashari; Depy Muhamad Pauzy; Dudu Risana
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.15454

Abstract

This study aims to analyze the simultaneous and partial effects of event marketing and brand experience on consumer loyalty at Kopi NawNaw Tasikmalaya. The study employed a quantitative approach with a causal research design, using purposive sampling to select 100 respondents and questionnaires to collect data, which were analyzed using multiple linear regression. The results indicate that event marketing and brand experience both have positive and significant effects on consumer loyalty, both individually and simultaneously. These findings contribute to marketing management by demonstrating that consumer loyalty in the local coffee shop context is shaped not only by promotional events but also by the overall brand experience. The novelty of this study lies in integrating event marketing and brand experience within the context of a local coffee shop in Tasikmalaya, providing empirical evidence on how experiential marketing strategies can be developed based on the local business context. Keywords: event marketing, brand experience, consumer loyalty.   Abstrak Penelitian ini bertujuan untuk menganalisis pengaruh Event Marketing dan Brand Experience terhadap Loyalitas Konsumen pada Kopi NawNaw Tasikmalaya, baik secara parsial maupun simultan. Penelitian ini menggunakan pendekatan kuantitatif dengan desain kausal dan metode survei terhadap 100 responden yang dipilih menggunakan teknik purposive sampling, dengan data dianalisis menggunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa Event Marketing dan Brand Experience secara parsial maupun simultan berpengaruh positif dan signifikan terhadap Loyalitas Konsumen. Brand Experience menunjukkan pengaruh yang lebih kuat dibandingkan Event Marketing, yang mengindikasikan bahwa pengalaman konsumen secara menyeluruh memiliki peran penting dalam membentuk loyalitas pada konteks coffee shop. Penelitian ini berkontribusi secara praktis dengan menunjukkan bahwa pengelola coffee shop perlu mengintegrasikan aktivitas event dengan penciptaan pengalaman merek yang konsisten, sedangkan secara akademis penelitian ini memperluas kajian loyalitas konsumen melalui pengujian Event Marketing dan Brand Experience secara bersamaan pada konteks lokal Kopi NawNaw Tasikmalaya. Kata Kunci : event marketing, brand experience, loyalitas konsumen.  
Strategi Mitigasi Risiko Pembiayaan untuk Keberlanjutan BMT Al-Fath Neysa Sabita Maheswari; Rafilah Eka Nanda; Siti Nur Alimah; Diva Azka Karimah
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.15525

Abstract

This study aims to analyze the effectiveness of applying the 5C principles (Character, Capacity, Capital, Collateral, Condition) and its impact on the financial sustainability of Baitul Maal wat Tamwil (BMT) Al-Fath Ikmi, Kedaung Branch. This research employs a descriptive qualitative method with a field case study approach. The discussion results indicate that BMT Al-Fath Ikmi emphasizes risk mitigation on the character aspect (through BI checking and social track records), capacity (using a specific Repayment Capacity formulation of 35% of the margin between income and expenses), and collateral through asset valuation, while capital and condition aspects are evaluated adaptively according to customer segmentation. The implementation of these customized 5C principles has proven effective in maintaining cash flow stability and portfolio quality, although mitigation in the condition aspect has not been optimally integrated to face macroeconomic fluctuations. This research contributes by providing a practical framework for Islamic microfinance institutions regarding the effectiveness of customized risk mitigation. The novelty of this study lies in the discovery of a 5C principle adjustment model incorporating local operational wisdom at the micro-level, demonstrating that regulatory adaptation to specific customer characteristics can strengthen institutional sustainability amidst the challenges of non-performing financing. Keywords: 5C Analysis, Baitul Maal wat Tamwil, Financial Sustainability, Islamic Microfinance, Risk Management.   Abstrak Penelitian ini bertujuan untuk menganalisis efektivitas penerapan prinsip 5C (Character, Capacity, Capital, Collateral, Condition) dan dampaknya terhadap keberlanjutan keuangan di Baitul Maal wat Tamwil (BMT) Al-Fath Ikmi Cabang Kedaung. Penelitian ini menggunakan metode kualitatif deskriptif dengan pendekatan studi kasus lapangan. Hasil pembahasan menunjukkan bahwa BMT Al-Fath Ikmi menitikberatkan mitigasi risiko pada aspek karakter (melalui BI checking dan rekam jejak sosial), kapasitas (menggunakan formulasi Repayment Capacity spesifik sebesar 35% dari selisih pendapatan dan pengeluaran), serta jaminan melalui taksasi nilai aset, sementara aspek modal dan kondisi dievaluasi secara adaptif menyesuaikan segmentasi nasabah. Penerapan prinsip 5C yang dikustomisasi ini terbukti efektif menjaga stabilitas arus kas dan mempertahankan kualitas portofolio, meskipun mitigasi pada aspek kondisi (Condition) belum terintegrasi secara optimal untuk menghadapi fluktuasi makro. Penelitian ini berkontribusi dalam memberikan kerangka kerja praktis bagi lembaga keuangan mikro syariah terkait efektivitas kustomisasi mitigasi risiko. Adapun kebaruan (novelty) dari penelitian ini terletak pada temuan model penyesuaian prinsip 5C dengan kearifan operasional lokal pada level mikro, yang membuktikan bahwa adaptasi regulasi terhadap karakteristik spesifik nasabah mampu memperkuat keberlanjutan lembaga di tengah tantangan pembiayaan bermasalah. Kata Kunci: Analisis 5C, Baitul Maal wat Tamwil, Keberlanjutan Finansial, Keuangan Mikro Syariah, Manajemen Risiko.
Peran Environmental Management Accounting Dalam Membangun Kesadaran Ekologis Di Rumah Sakit Khusus Heny Enggaryanti; Ikhsan Budi Riharjo
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.15595

Abstract

This study aims to analyse the mechanism of Environmental Management Accounting (EMA) synergising Physical EMA (PEMA) and Monetary EMA (MEMA) as an awareness tool in fostering ecological consciousness and operational efficiency in a Specialised Hospital in East Java. Employing a qualitative single-case study approach, data were gathered through semi-structured in-depth interviews with six cross-functional key informants (managerial, finance, environmental, HR, medical, and non-medical staff), field observations, and document analysis. The findings demonstrate that PEMA has been effectively integrated through digital physical logging (Festronik), whereas MEMA remains consolidated within general operational expenses without a standalone green ledger. The transparency of physical information and an understanding of the cost consequences of hazardous waste treatment proved to function as a cognitive trigger for point-of-care staff. This manifests in disciplined infectious waste segregation, the adoption of a paperless culture driven by Electronic Medical Records, and the reduction of single-use plastics. This study concludes that EMA acts as a cognitive device that transforms institutional pressures into substantive ecological work behaviour, whilst optimising Triple Bottom Line performance through cost avoidance and environmental protection.  Keywords: Awareness Tool, Environmental Management Accounting, Ecological Consciousness, Monetary EMA, Physical EMA, Specialised Hospital   Abstrak Penelitian ini bertujuan menganalisis mekanisme Environmental Management Accounting (EMA) yang menyinergikan Physical EMA (PEMA) dan Monetary EMA (MEMA) sebagai awareness tool dalam membangun kesadaran ekologis dan efisiensi operasional pada Rumah Sakit Khusus (RSK) Jawa Timur.  Pendekatan kualitatif studi kasus tunggal, data dikumpulkan melalui wawancara mendalam semi-terstruktur terhadap enam informan kunci lintas fungsi (manajerial, keuangan, K3L, SDM, medis, dan non-medis), observasi lapangan, serta analisis dokumen..  Hasil penelitian menunjukkan bahwa PEMA telah terintegrasi dengan baik melalui pencatatan fisik digital (Festronik), sedangkan MEMA masih terkonsolidasi dalam beban operasional umum tanpa akun mandiri (standalone green ledger). Transparansi informasi fisik dan pemahaman konsekuensi biaya pengolahan limbah B3 terbukti berfungsi sebagai pemantik kognitif (cognitive trigger) bagi staf di titik pelayanan (point-of-care). Hal ini terwujud dalam kedisiplinan pemilahan sampah infeksius, adopsi budaya paperless berbasis Rekam Medis Elektronik, dan reduksi plastik sekali pakai.  Penelitian ini menyimpulkan bahwa EMA bertindak sebagai cognitive device yang mentransformasi tekanan institusional menjadi adopsi budaya kerja ekologis yang substantif, sekaligus mengoptimalkan kinerja Triple Bottom Line melalui penghindaran biaya (cost avoidance) dan perlindungan lingkungan. Kata Kunci: Sarana Peningkatan Kesadaran, Akuntansi Manajemen Lingkungan, Kesadaran Ekologis, EMA Moneter, EMA Fisik, Rumah Sakit Khusus
Determinasi Valuasi Saham: Sinergi Mikro dan Makroekonomi Ustman Ustman; Siti Salama Amar; Leily Nur Indah Fitriana; Aisyah Fajrin
Veteran Economics, Management, & Accounting Review Vol 4 No 2 (2026)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/vemar.v4i2.15599

Abstract

Abstract This study aims to examine the effects of macroeconomic factors and firm performance on stock valuation of banking subsector companies listed on the Indonesia Stock Exchange during the 2022–2024 period. The macroeconomic variables include GDP and inflation, while firm performance is proxied by the PER and PBV. This research employs a quantitative approach using documentary data. The sample was selected through purposive sampling. Data analysis was conducted using non-parametric statistical methods, including the Kruskal–Wallis test, Runs test, and Spearman and Kendall correlation tests. The results indicate that GDP and inflation have no significant effect on banking stock valuation. These findings suggest that macroeconomic fluctuations during the observation period do not directly influence investors’ assessment of the fair value of banking stocks. In contrast, PER and PBV have a significant effect on stock valuation, indicating that investors place greater emphasis on internal firm performance, particularly profitability and equity value, when evaluating banking stocks. Keywords: stock valuation, banking sector, GDP, inflation, Price Earning Ratio, Price to Book Value   Abstrak  Penelitian ini bertujuan untuk menganalisis pengaruh faktor makroekonomi dan kinerja perusahaan terhadap valuasi saham perusahaan subsektor perbankan yang terdaftar di Bursa Efek Indonesia selama periode 2022–2024. Variabel makroekonomi yang digunakan meliputi GDP dan inflasi, sedangkan kinerja perusahaan diproksikan dengan ER dan Price to Book Value.Penelitian ini menggunakan pendekatan kuantitatif dengan metode dokumentasi. Sampel penelitian ditentukan menggunakan teknik purposive sampling. Analisis data dilakukan dengan statistik nonparametrik yang meliputi uji Kruskal–Wallis, Runs Test, serta korelasi Spearman dan Kendall. Hasil penelitian menunjukkan bahwa GDP dan inflasi tidak berpengaruh signifikan terhadap valuasi saham perusahaan perbankan. Temuan ini mengindikasikan bahwa perubahan kondisi makroekonomi selama periode pengamatan belum secara langsung memengaruhi penilaian investor terhadap nilai wajar saham sektor perbankan. Sebaliknya, Price Earning Ratio (PER) dan Price to Book Value (PBV) terbukti berpengaruh signifikan terhadap valuasi saham. Hal ini menunjukkan bahwa investor lebih menitikberatkan faktor internal perusahaan, khususnya profitabilitas dan nilai ekuitas, dalam menilai kewajaran harga saham perbankan. Kata kunci: valuasi saham, perbankan, GDP, inflasi, Price Earning Ratio, Price to Book Value.

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