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This study aims to examine the effect of working capital efficiency and leverage on profitability and its implications for firm value in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2025 period. The post-COVID-19 pandemic condition has increased operational risks for manufacturing companies due to fluctuations in interest rates, exchange rates, cash management, inventories, and receivables. Therefore, companies are required to implement more effective financial strategies to maintain competitiveness. Profitability is positioned as an intervening variable because previous studies showed inconsistent results regarding the relationship between working capital efficiency, leverage, profitability, and firm value. This research uses a quantitative approach with path analysis to examine direct and indirect relationships among variables. The population consists of all manufacturing companies listed on the IDX, while the sample includes 45 companies selected from 270 firms using purposive sampling based on specific criteria, such as consistent listing and financial performance. The results indicate that working capital efficiency has a significant positive effect on profitability, leverage has a significant negative effect on profitability, profitability significantly increases firm value, and profitability fully mediates the effect of working capital efficiency and leverage on firm value. These findings provide theoretical and practical implications for managers and investors in financial decision-making.

Taxes play a vital role as the primary source of state revenue and a key instrument for financing national development through the State Budget (APBN). This study aims to analyze the determinants of tax compliance among Micro, Small, and Medium Enterprise (MSME) taxpayers in Semarang City, with a particular focus on the effects of tax policy, subjective norms, and financial performance. A quantitative associative approach was employed, using primary data collected through questionnaires distributed to 100 MSME taxpayers selected via purposive sampling. The data was analyzed using the Partial Least Squares (PLS) method with WarpPLS software. The results indicate that tax policy and subjective norms have a positive and significant effect on MSME tax compliance, while financial performance shows no significant effect. The adjusted R² value reveals that the model explains 87.2% of the variance in taxpayer compliance. To enhance MSME tax compliance, the government should simplify tax regulations, strengthen social norms through education and community engagement, and ensure consistent, transparent, and fair implementation of tax policies

Tax Management refers to a company’s efforts to manage its tax obligations efficiently and legally in order to optimize net income. This study aims to examine the effect of Fixed Asset Intensity and Leverage on Tax Management, with Profitability as a moderating variable, in mining companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period. This research is conducted because tax management practices are considered to potentially influence corporate profitability and financial performance. The study is grounded in Agency Theory and employs a quantitative approach. The sample was selected using purposive sampling, resulting in 28 companies observed over four years, with a total of 112 secondary data observations obtained from annual reports or financial statements. Data analysis was performed using EViews 13 with a Moderated Regression Analysis (MRA) approach. The findings indicate that: (1) Fixed Asset Intensity has no significant effect on Tax Management; (2) Leverage has a significant negative effect on Tax Management; (3) Profitability does not moderate the relationship between Fixed Asset Intensity and Tax Management; and (4) Profitability strengthens the effect of Leverage on Tax Management.

Traditional snack micro, small, and medium enterprises (MSMEs) in Indonesia face increasing market competition and rapidly changing consumer preferences, particularly among younger consumers seeking innovative and symbolic food experiences. This community engagement study aims to strengthen the profitability and sustainability of traditional snack MSMEs by integrating local flavor innovation with simple business governance practices. Using a participatory action research approach under the Merdeka Belajar Kampus Merdeka (MBKM) program in Palangka Raya, this study involved co-creation between students and local entrepreneurs in product development, production standardization, and basic financial management. Qualitative data were collected through participatory observation and stakeholder discussions, while quantitative data were obtained from sales records and simple financial reports. The results demonstrate that local flavor-based innovation, combined with standardized operating procedures and cost control mechanisms, improved product differentiation, operational efficiency, and financial performance. The intervention generated a positive net profit and strengthened the partner’s capacity for independent business management. This study contributes to the literature by positioning traditional food MSMEs as sites of cultural innovation and micro-governance, while supporting Sustainable Development Goals related to inclusive economic growth, cultural preservation, and responsible production.

Green accounting procedures have been adopted by numerous companies in response to the growing global focus on environmental responsibility. Nonetheless, monetary instability is still a major obstacle that can reduce productivity in Indonesia's manufacturing sector. The purpose of this research is to analyze industrial businesses listed on the Indonesia Stock Exchange from 2019 to 2023 and see how green accounting, financial crisis, and earnings management affect financial performance. The population in this study consists of 68 industrial sector companies, with a sample of 7 companies selected through purposive sampling based on 4 criteria. We used EViews software and Moderated Regression Analysis (MRA) for a quantitative approach. First, financial distress has a significant impact on financial performance. Second, green accounting has a significant positive effect on financial performance. Third, earnings management does not moderate the relationship between financial distress and financial performance. Fourth, earnings management does not moderate the relationship between green accounting and financial performance. With an Adjusted R-Square value of 79.73%, the study model has a high level of explanatory power. It may be used to explain the majority of the variation in financial performance. This shows that the constructed model is applicable and fits the empirical data well. Transparent reporting and real sustainability initiatives are still vital for improving company results, according to these results, as profits management methods do not change the impact of environmental and financial variables, which are important drivers of performance.

This study aims to analyze the effect of changes in interest rates, exchange rates, economic growth, and world oil prices on stock returns in the transportation and logistics sector in Indonesia during the period 2006–2024. This sector was chosen because it is highly vulnerable to fluctuations in macroeconomic factors that have a direct impact on companies' operating costs and financial performance. The method used is multiple linear regression with an annual panel data approach, using a sample of transportation and logistics companies listed on the Indonesia Stock Exchange. The independent variables include changes in interest rates, exchange rates, economic growth, and oil prices, while the dependent variable is stock returns. The results show that, partially, only changes in interest rates have a significant negative effect on stock returns. Conversely, exchange rates, economic growth, and oil prices have no statistically significant effect. Simultaneously, these four variables also show no significant effect on stock returns. This study makes a new contribution through the use of a long observation period and a focus on the transportation and logistics sector, thereby providing a deeper understanding of this sector's sensitivity to macroeconomic conditions.

This study aims to analyze the impact of the implementation of the Government Internal Control Sistem (SPIP) on financial performance at the Regional Revenue Agency (Bapenda) of Malang City from 2022 to 2024. SPIP consists of five key components: control environment, risk assessment, control activities, information and communication, and monitoring. Financial performance is measured using indicators from the Government Institution Performance Accountability Sistem (SAKIP), which reflects how well the government institution achieves its financial goals and objectives. This study uses a quantitative approach with an explanatory method, where data was collected through a questionnaire distributed to 34 Bapenda employees in Malang City. The collected data was then analyzed using SPSS version 25 to examine the relationship between SPIP implementation and financial performance. The results indicate that four of the five SPIP components, namely risk assessment, control activities, information and communication, and monitoring, have a positive and significant impact on financial performance. This means that the better the implementation of these components, the better the financial performance achieved by Bapenda Malang City. However, the control environment component does not significantly affect financial performance. This suggests that while the control environment is important, other factors such as operational control and communication play a more dominant role in supporting financial performance. Based on these findings, several recommendations for Bapenda Malang City include strengthening SPIP implementation by conducting regular coaching and outreach programs. Additionally, it is recommended to hold workshops with all work units, provide technical training to develop dashboards, and establish clear Standard Operating Procedures (SOPs) and flowcharts. Setting up a schedule for SOP publication and routine briefings, as well as developing performance indicators and quarterly evaluation checklists, is expected to enhance SPIP implementation and strengthen financial accountability at Bapenda Malang City.

This research explores the influence of customer satisfaction on the financial performance of Perumda Tirtanadi, with a particular focus on the digital service system as a moderating factor. The study is driven by the growing urgency for digital innovation in public service sectors, particularly in the wake of the COVID-19 pandemic, which significantly altered customer engagement patterns. A quantitative method is adopted, employing Partial Least Squares–Structural Equation Modeling (PLS-SEM) using the SmartPLS 4 software to process the collected data. The analysis demonstrates that both customer satisfaction and digital services have independent and significant positive effects on financial outcomes. However, the interaction between these two variables does not show a statistically significant moderating effect. These findings underline the value of digital infrastructure as a strategic internal resource that supports financial growth. Nevertheless, the minimal moderating impact suggests that a portion of customers either lack access or sufficient skills to effectively utilize the available digital platforms. This study adds to the current body of knowledge by examining the interplay between digital transformation and customer satisfaction in shaping financial performance, framed through the Resource-Based View (RBV) theory. The research suggests that improving digital literacy and promoting better adoption of digital tools among customers is essential to fully capitalize on the benefits of technological advancement. Furthermore, it highlights the need for continuous training and support to ensure that all customers can engage with digital services effectively, thereby enhancing overall satisfaction and financial performance. By addressing these gaps, organizations can foster a more inclusive digital environment that benefits both the customers and the service providers.

The purpose of this research is to test and analyze the relationship between Environmental, Social and Governance (ESG) and financial performance. The variables used in this research are Environmental, Social, and Governance as independent variables with the dependent variable being financial performance, which is proxied by ROA, ROE, and ROCE. The sampling technique used was non-probability sampling, purposive sampling so that there were 21 companies registered on Kompas 100 as samples observed from 2017 to 2022. The data analysis method in this research used Spearman correlation. The results of the Spearman correlation test inform that environmental is related to financial performance, which is proxied by ROE, ROA, and ROCE. Social and ROE have a relationship and have no relationship with ROA and ROCE. Governance and ROA are related but not ROE and ROCE. Based on these results, companies must continue to pay attention to and strive to implement ESG so that in the long term they can improve their financial performance.

Profitability, measured by Return on Asset (ROA), is a key indicator for assessing the performance and resilience of the banking sector. During the 2019–2023 period, the Indonesian banking sector faced significant pressure from the COVID-19 pandemic, which impacted asset quality and financial performance. This study aims to analyze the simultaneous and partial effects of Non-Performing Loan (NPL), the BI Rate, inflation, Net Interest Margin (NIM), and Capital Adequacy Ratio (CAR) on the ROA of commercial banks in Indonesia. This research employs a quantitative approach using monthly secondary data from 2019 to 2023. The analysis was conducted using Robust Least Squares (RLS) with M-estimation, a Wald test for simultaneous significance, and a z-statistic for partial tests. The results indicate that, simultaneously, the five independent variables have a significant effect on ROA with a significance value of 0,000 and a coefficient of determination of 67,1 percent. Partially, NPL has a significant negative effect on ROA, while NIM, CAR, and inflation have significant positive effects. The BI Rate shows no significant influence. The implications of these findings highlight the managerial importance of strengthening credit risk management to control NPL, enhancing intermediation efficiency to maintain a healthy NIM, and preserving capital adequacy. From a policy perspective, these results justify the continued strengthening of prudential supervision over banks' internal ratios by financial authorities. Furthermore, the insignificance of the BI Rate suggests that the monetary policy transmission to bank profitability is indirect, necessitating a focus on internal factors to maintain the stability of the banking sector.

Late payment of accounts receivable is a serious challenge that can disrupt the stability of the company's cash flow and financial performance. This study aims to evaluate the role of risk management in minimizing late payment of accounts receivable at PT Alam Mulya, a logistics company in Surabaya. The research method used is descriptive qualitative with a case study approach, through direct observation, interviews, and documentation during the five-month internship period. The results showed that the company has implemented risk management principles, such as customer identification, setting credit limits, monitoring maturity, and implementing active collection. However, the implementation has not been thorough and consistent, especially in the aspects of using digital systems, documenting credit policies, and applying sanctions for late payments. It was also found that decision interventions based on personal relationships hindered the effectiveness of risk control. This study recommends the implementation of an integrated digital system, the establishment of a written credit policy, and staff training related to risk management and collection. By strengthening comprehensive risk management, the company is expected to improve the efficiency of receivables management and maintain optimal cash flow sustainability.

This study aims to determine the effect of leverage on financial performance and the effect of financial distress risk on the relationship between leverage and financial performance. The population in this study is several oil, gas, & coal sub-sector companies listed on the Indonesia Stock Exchange in 2020, 2021, 2022, and 2023. This study uses secondary data. The sampling technique uses the simple purposive sampling method, resulting in 57 companies as samples for 4 years. This study uses Moderated Regression Analysis as the data analysis technique. The results of the study show that leverage has a negative effect on financial performance, and financial distress risk is able to strengthen the relationship between leverage and financial performance.

This study aims to determine how factors like profitability, capital structure, cash management, and company size affect the financial performance of manufacturing companies in the food and beverage subsector that are listed on the Indonesia Stock Exchange (IDX) between 2019 and 2023. Analysis is essential. The Smart PLS technique and secondary data from the financial statements of seven companies selected through purposive selection are used in the quantitative methodology of this study. Financial performance is evaluated using Tobin's Q and EPS, and the independent factors that are looked at include ROE, DER, quick ratio, current ratio, and total assets. The study's findings indicate that while business size has no discernible effect on financial performance, return on investment (ROE) has a strong positive influence. Nevertheless, capital structure (DER) has a negative impact on financial performance while company size has a positive one; neither effect is statistically significant. Additionally, cash management has a little negative impact on financial success, but business size has a positive and significant influence. However, there is a small but favorable correlation between firm size and financial performance.

This research aims to obtain empirical evidence about influence earnings management and financial performance on company value listed on the Indonesian Stock Exchange (BEI) in the 2019-2023 period. The data used in this research is secondary data. Analysis of research data using multiple linear regression with the help of IBM SPSS 25 program. The independent variables in this research are earnings management and financial performance. And, the dependent variable in this research is company value. Using the purposive sampling method as a sampling technique sample, so that a population of 80 companies is obtained. In this research,24 non-financial state-owned companies were used as samples. For know the magnitude of the influence of earnings management and financial performance used regression analysis, correlation analysis F test and t test and coefficient analysis determination. The results of this study indicate that the variables are variable Earnings management does not have a significant effect on company value. meanwhile, financial performance significant positive effect on company value.

This research is motivated by the growth of the Hotel, Resort and Cruise Lines Industry which does not always increase every year. The value of the Hotel, Resort and Cruise Lines Industry shows a decline starting from 2017-2022. This increase and decrease in value can be changed by Corporate Social Responsibility (CSR) and Financial Performance. This research aims to: (1) Find out changes in Corporate Social Responsibility (CSR) towards Industrial Value, (2) Find out changes in Financial Performance towards Industrial Value, and to (3) Find out changes in Corporate Social Responsibility (CSR) and Financial Performance together. the same for the Industrial Value of the Hotel, Resort and Cruise Lines industry listed on the IDX in 2017-2022. The population in this study is the entire Hotel, Resort and Cruise Lines industry listed on the IDX in 2017-2022. Sample selection used purposive sampling technique. The number of samples obtained was 10 industries. The type of data collected is secondary data obtained from the IDX website. The analytical methods used are descriptive analysis, classical assumption test, multiple linear analysis, t test, f test, and analysis of the coefficient of determination (R2). The research results prove that: (1) Corporate Social Responsibility (CSR) has had a significant negative change in Industrial Value, (2) Financial Performance has had a significant positive change in Industrial Value, and (3) Corporate Social Responsibility (CSR) and Financial Performance have simultaneously had a significant change. on Industrial Value.

This study aims to examine the impact of each ESG (environmental, social, governance) aspect on the financial performance of mining companies listed on the Indonesia Stock Exchange, with ownership structure proxied by managerial ownership as a moderating variable. This quantitative research employs purposive sampling, resulting in a sample of 10 mining companies listed on the IDX for the period 2019-2023. Data analysis was conducted using SPSS version 22 with multiple linear regression and Moderate Regression Analysis (MRA) methods. The results show that both partially and simultaneously, all ESG variables affect financial performance, though the social aspect has a negative impact. Additionally, managerial ownership is proven to moderate the relationship between ESG aspects and financial performance.

The aim of this research is to determine the influence of ownership structure on financial performance and the effect of ESG scores moderates the relationship between ownership structure and financial performance. The population in this study was companies listed on the Indonesia Stock Exchange for the 2020-2022 period, resulting in a sample of 183. This study used Eviews 12.0 as an analysis tool. The analytical method used is Multiple Linear Regression with the Fixed Effect Model (FEM) panel data type. The results obtained in this research are that foreign ownership has a significant effect on financial performance and ESG scores can significantly moderates the relationship between foreign ownership and financial performance. Meanwhile institutional ownership, ESG scores does not had a significant affect on financial performance, and ESG scores cannot moderates the relationship between institutional ownership and financial performance.

The purpose of this literature review is to examine the factors that influence dividend policy. This study reviews existing literature on dividend policy and identifies several factors that affect a company's decision to pay dividends. These factors include profitability, liquidity, free cash flow, firm size, leverage, company life cycle, and asset turnover. This study finds that these factors interact with each other and affect a company's ability to pay dividends. The findings of this study provide insights for companies to develop effective dividend policies that balance investor interests and financial performance. This study also highlights the limitations of existing research and suggests avenues for future research.

This study aims to investigate the effect of macro fundamental analysis and ownership structure on firm value in the context of automotive subsector companies listed on the Indonesia Stock Exchange in 2018-2022. This study also identifies capital structure and financial performance as intervening variables that mediate the correlation between the independent variables (macro fundamental analysis and ownership structure) and the dependent variable (firm value). This study utilizes a quantitative approach with secondary data obtained from company financial statements and Indonesian macroeconomic data. The analysis method uses Smart PLS (Partial Least Squares). The results of this study indicate that macro fundamental analysis and ownership structure have a significant influence on firm value through capital structure and financial performance. The implication of this study is the importance of effective management of these factors to increase firm value in the long run.

The research objective is to analyse financial performance as influenced by environmental performance with environmental innovation as a moderating variable in manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2021 period. This research belongs to the quantitative category, utilising secondary data. Data sourced from annual reports and financial reports published by companies on the Indonesia Stock Exchange. This data collection uses purposive sampling technique with company selection criteria as many as 25 companies that are adjusted to the research objectives. The method used in this research is SmartPLS. The results showed that environmental performance can negatively and significantly affect environmental performance, as well as environmental innovation variables able to moderate the relationship between environmental performance and financial performance.