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Analytics

Hasan Rifa’i; Muhamad Nurhamdi

Maeswara : Jurnal Riset Ilmu Manajemen dan Kewirausahaan 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the financial performance of PT Aviasi Pariwisata Indonesia (Persero), commercially known as Injourney the state-owned enterprise (BUMN) holding company for the aviation and tourism sectors during the 2021-2024 period. Performance is measured using liquidity ratios (Current Ratio, Cash Ratio), solvency ratios (Debt to Asset Ratio, Debt to Equity Ratio), activity ratios (Total Asset Turnover), and profitability ratios (Net Profit Margin, Return on Equity) compared against industry standards. This research employs a descriptive quantitative approach. The data utilized is secondary data sourced from the published financial statements of PT Aviasi Pariwisata Indonesia (Persero). The results indicate varied liquidity performance, with an average Current Ratio of 97.82% (below the 200% benchmark, categorized as poor) and a Cash Ratio of 63.03% (above 50%, categorized as good). Solvency performance is underperformed, with an average DAR of  and DER of, reflecting a high reliance on debt. Activity performance is identified as inefficient with an average TATO of 0.199 times (<2 times), while profitability remains negative on average with an NPM of and ROE of. Despite a significant upward trend in performance improvement, the company's overall financial health is considered suboptimal compared to industry standards. This condition is primarily driven by high debt burdens and low asset efficiency within the company.

Asta Hidayanti; Fitri Kumalasari; Suwarto Suwarto

Maeswara : Jurnal Riset Ilmu Manajemen dan Kewirausahaan 2023 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This research aims to determine: 1) The influence of compensation on job satisfaction of employees at the East Kolaka Regency Tourism and Culture Office. (2) The Influence of Motivation on Job Satisfaction of Employees at the East Kolaka Regency Tourism and Culture Office. This research uses a quantitative method approach. Data collection in this research used observation studies, documentation and questionnaires. The population of this research is all employees who work at the East Kolaka Regency Tourism and Culture Office. Meanwhile, the sample for this research was 34 people, with the sample determined using census techniques. Research instrument testing uses validity and reliability tests with SPSS 25.0. The data analysis technique used in this research is Structural Equation Modeling (SEM) based on Partial Least Square (PLS) through measurement model testing (outer model) and structural model testing (inner model) with Smart PLS 4.0. Based on the research results, it is known that the Compensation Variable has a positive and significant effect on Employee Job Satisfaction, which is shown by a P-Values ​​value of 0.020. And the Motivation Variable has a positive and significant effect on Employee Job Satisfaction, this is shown by a P-Values ​​value of 0.000.