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Magna Devenia Br Manalu; Mohammad Ihsan; Ovie Yanti

Ebisnis Manajemen 2025 Fakultas Ekonomi & Bisnis, Universitas Nusa Nipa

This study aims to analyze the implementation of the Village Information System (SID) in Pematang Gajah Village based on Article 86 of Law No. 6 of 2014 concerning Villages, as well as identify inhibiting and supporting factors in its implementation. Pematang Gajah Village has been developing the Village Website since 2022 as a form of SID implementation. This research uses a qualitative approach with data collection techniques in the form of observation, interviews, and documentation. The results show that even though SID has been equipped with hardware, software, and networks, access to information to the public has not been optimal due to uneven socialization. In addition, SID does not contain data on the development of villages and rural areas, and has not been supported by planning information from local governments. The main inhibiting factors include limited understanding of the community and village apparatus towards technology, incomplete socialization, and unstable internet networks. On the other hand, the existence of village websites, budget allocation, and the availability of technological devices are significant supporting factors. The commitment of village officials in gradually increasing the use of SID is also an important capital in system sustainability. This study recommends increasing human resource capacity, equitable distribution of socialization, and strengthening infrastructure support as strategic steps in optimizing SID at the village level.

Vana Jelita; Antonius Bimo Rentor Luntungan; Putri Gantine Lestari

Prosiding Seminar Nasional Ilmu Manajemen Kewirausahaan dan Bisnis 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The capital market is a place for various investment instruments, ranging from short-term to long-term. Before buying shares in the capital market, investors need to analyze the share prices of selected companies to predict large profits. The higher the share price, the greater the possibility of making a profit. This study aims to determine the factors that influence the stock prices of companies in the hotel, resort, and shipping sub-sectors listed on the IDX for the period 2019–2024. The dependent variable in this study is stock price, while the independent variables are financial performance and sustainability report disclosure. Financial performance variables are proxied by DER, Current Ratio, ROA, and TATO. This is a quantitative study using secondary data obtained from annual reports and sustainability reports taken from the companies' official websites. The number of samples used in this study is 10 companies using classical assumption techniques, multiple linear regression analysis, determination tests, and ending with hypothesis testing. The results show that DER and Current Ratio have a negative effect on stock prices. ROA, TATO, and sustainability report disclosure partially have no effect on stock prices. Meanwhile, financial performance and sustainability report disclosure simultaneously affect stock prices.

Khema Devi; I Nyoman Wijana Asmara Putra

International Journal of Management 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Financial distress refers to a condition where a company experiences financial difficulties and if it is not resolved immediately, it will lead to bankruptcy. Several models can be used to measure financial distress, one of which is the Zmijewski model. This study aims to analyze the influence of financial ratios and macroeconomic factors on financial distress among technology companies listed on the Indonesia Stock Exchange. The research was conducted at technology companies listed on the IDX for the 2020–2024 period, with a sample size of 44 companies selected using a purposive sampling method. The study employed secondary data derived from company financial statements obtained through the official IDX website and analyzed using SPSS version 27. The findings reveal that financial ratios specifically, profitability (ROE) have a significant negative effect on financial distress, while leverage (DER) has a significant positive effect. Meanwhile, macroeconomic factors such as inflation and interest rates have no effect on financial distress.

Aprillia Puspita Sari; Sisya Nirmala Meida; Khairunnisa Ardhana; Al Mujahidatul Adilah; Afia Ananta Izmi +3 more

Jurnal Riset Ilmu Pendidikan, Bahasa dan Budaya 2025 Asosiasi Periset Bahasa Sastra Indonesia

This article analyzes language errors in essays written by high school students and published on the Mojok.co website in the March 2025 edition. It employs a descriptive qualitative approach with purposive sampling. Five essays were selected based on topic relevance and language difficulty levels appropriate for high school students. The analysis reveals language errors in four main categories: spelling, grammar, diction, and punctuation. Spelling errors are the most frequent, involving incorrect word forms that deviate from standard Indonesian spelling conventions, such as improper capitalization and the use of numerals where they are inappropriate. Grammar errors include issues in sentence structure, particularly in the incorrect placement of subjects and predicates. Diction errors often involve the use of inaccurate or informal vocabulary, while punctuation errors are evident in the misuse or misplacement of commas and periods. These findings suggest that students’ language proficiency in essay writing still requires improvement. To enhance their skills, the following recommendations are proposed: increasing students’ understanding of spelling, grammar, diction, and punctuation based on the General Guidelines for Indonesian Spelling; providing structured and continuous writing practice; incorporating technology such as spell checkers and grammar tools; and fostering an understanding of language variations, especially the differences between spoken and written language. Improving students’ writing skills is essential, as language errors can impede effective communication and undermine a writer’s credibility. This article aims to serve as a reference for both teachers and students in recognizing common writing errors and enhancing the overall quality of student essays.

Harlin Nur Afizah; Inara Faridotu Rohmah; Khonitah Nuril Hidayati; Wafa Khoirunnisa; Mustofa Zaen Zakcy +3 more

Jurnal Riset Ilmu Pendidikan, Bahasa dan Budaya 2025 Asosiasi Periset Bahasa Sastra Indonesia

Explanation text is a text that can train critical reading skills, especially for junior high school students. It contains compound sentences that summarize information from several sentences into one sentence. Writing compound sentences that are not quite right will also affect the meaning or meaning that will be conveyed in the explanation text. The purpose of this study was to determine the quality of compound sentences in the explanation text which will later be used as teaching materials for junior high school students. The quality of good compound sentences will later affect students' critical reading skills. The methodology used is a qualitative approach where data collection is carried out first. This technique is carried out using the Listen and Note technique. The Listen technique is done by reading and observing the explanation text on the brainacademy website. The note technique is carried out after reading the entire text recording the existing compound sentences and then re-identifying the results that have been obtained. After analyzing the explanation text, compound sentences of equal value and compound sentences of levels were found in the explanation text. The difference between the two sentences can be seen in the sentence structure and the use of conjunctions. The quality of compound sentences is also analyzed in terms of clarity of meaning, use of appropriate conjunctions, and level of complexity. The results of this study are expected to be a reference for teaching materials and provide insight into the influence of compound sentences that affect the quality of students' critical reading.

Silvia Eka Hariyanti; Fijri Astami Febrianti; Ida Milantika; Alexa Ayu Qurrotul Aini; Iqlima Atqiya’ul Aulia +3 more

Jurnal Ilmu Pendidikan, Bahasa, Sastra dan Budaya 2025 Asosiasi Periset Bahasa Sastra Indonesia

This study examines syntax, a branch of linguistics that investigating the structure and rules for constructing larger components such as words, phrases, clauses, and sentences. The focus of this article is on analyzing sentences found in opinion texts. The primary goal is to evaluate the effectiveness of sentences in opinion articles from the January 2025 edition of "Harian Jogja" as instructional materials for reading comprehension, particularly regarding word choice and punctuation. A qualitative descriptive method is employed, with a syntactic theoretical framework. The data presented is based on the analysis of sentence effectiveness in the opinion texts from the January 2025 edition of "Harian Jogja." Data collection includes listening and note-taking techniques, while the analysis uses the Aghigh technique. The data is informally presented in tables that highlight ineffective sentences along with their corrections. The study of three opinion texts from the "Harian Jogja" website in January 2025 resulted in a total of 147 sentences, with 118 effective and 16 ineffective sentences. Specifically, in the opinion article titled "Ethics and Productivity of Generation Z," 37 sentences were effective and 5 were ineffective; in "The Rise of Online Purchasing Fraud," 55 sentences were effective and 15 were ineffective; and in "Going through Digital Transformation: Recruitment Challenges in Banking," 26 sentences were effective and 9 were ineffective. This study aims to help distinguish between effective and ineffective sentences in texts.

Lailika Adha Mundafa; Ira Fazira; Fitriana Rahmadani Irma Anggraeni; Trima Putri Nur Rahayu; Erna Hidayanti +3 more

Jurnal Ilmu Pendidikan, Bahasa, Sastra dan Budaya 2025 Asosiasi Periset Bahasa Sastra Indonesia

The use of effective sentences in academic communication is essential, especially in essay writing that contains various legal arguments. Essays should employ proper sentence structures to clearly conver ideas and persuade readers. This study aims to analyze ineffective sentence constructions found in the Kumpulan Esai Kritis NACE Competition 2021 published on thr LK2 FHUI website as educational reading material. The research method used is descriptive qualitative and theoretical. Data collection was carried out using observation and note-taking techniques by analyzing various types of errors in the essay texts. The data collection process followed four steps: (1) data collection, (2) data analysis, (3) discussion, and (4) conculusion and recommendation. The results show that many ineffective sentences are still found in the essays, such as punctuation errors, wordiness, inappropriate use of foreign terms, improper word choices, and excessive repetition. These errors negatively impact the clarity and persuasiveness of the messages and arguments within the essays. This research is expected to contribute to improving essay writing quality and the development of more effective academic literacy.

Lailika Adha Mundafa; Ira Fazira; Fitriana Rahmadani Irma Anggraeni; Trima Putri Nur Rahayu; Erna Hidayanti +3 more

Jurnal Ilmu Pendidikan, Bahasa, Sastra dan Budaya 2025 Asosiasi Periset Bahasa Sastra Indonesia

The use of effective sentences in academic communication is essential, especially in essay writing that contains various legal arguments. Essays should employ proper sentence structures to clearly conver ideas and persuade readers. This study aims to analyze ineffective sentence constructions found in the Kumpulan Esai Kritis NACE Competition 2021 published on thr LK2 FHUI website as educational reading material. The research method used is descriptive qualitative and theoretical. Data collection was carried out using observation and note-taking techniques by analyzing various types of errors in the essay texts. The data collection process followed four steps: (1) data collection, (2) data analysis, (3) discussion, and (4) conculusion and recommendation. The results show that many ineffective sentences are still found in the essays, such as punctuation errors, wordiness, inappropriate use of foreign terms, improper word choices, and excessive repetition. These errors negatively impact the clarity and persuasiveness of the messages and arguments within the essays. This research is expected to contribute to improving essay writing quality and the development of more effective academic literacy.

Viyasqi Arsy Putri; Muhammad Rizal Almajid; Meidika Dendra Parameswara; Maulana Adi Saputra; Asep Purwo Yudi Utomo +2 more

Jurnal Riset Ilmu Pendidikan, Bahasa dan Budaya 2025 Asosiasi Periset Bahasa Sastra Indonesia

This study analyzes the quality of content and the ineffectiveness of sentences in opinion texts found on the "Liputan6.com" website in February 2025 as reading material and sources of information for students. This study uses descriptive qualitative research methods and a syntactic approach. Qualitative research and syntactic approaches are used to analyze the quality of content and effective sentences. The research data is the result of identifying ineffective sentences used in opinion texts on the "Liputan6.com" website, February 2025 Edition as reading material and a source of information for students. The data collection technique in this study uses a syntactic approach in the form of listening and note-taking techniques. In this study, data presentation was carried out using informal methods. The data is presented in a table containing several ineffective sentences and their corrections. The results of the analysis of opinion texts found on the February 2025 edition of the "Liputan6.com" website found 263 structured sentences, consisting of 140 effective sentences and 133 ineffective sentences. From this study, ineffective sentences are classified into 5 categories, namely 14 ineffective sentences due to excessive use of words, 19 due to inappropriate word choice, 12 due to use of foreign languages, 5 due to inappropriate use of conjunctions, 9 due to illogical sentences, 6 due to incorrect use of punctuation, 3 due to use of sentences that are too simple. This study can help writers pay attention to how they write opinion texts that are in accordance with linguistic rules and are useful as a guideline for writing effective sentences.

Silvia Eka Hariyanti; Fijri Astami Febrianti; Ida Milantika; Alexa Ayu Qurrotul Aini; Iqlima Atqiya’ul Aulia +3 more

Jurnal Ilmu Pendidikan, Bahasa, Sastra dan Budaya 2025 Asosiasi Periset Bahasa Sastra Indonesia

This study examines syntax, a branch of linguistics that investigating the structure and rules for constructing larger components such as words, phrases, clauses, and sentences. The focus of this article is on analyzing sentences found in opinion texts. The primary goal is to evaluate the effectiveness of sentences in opinion articles from the January 2025 edition of "Harian Jogja" as instructional materials for reading comprehension, particularly regarding word choice and punctuation. A qualitative descriptive method is employed, with a syntactic theoretical framework. The data presented is based on the analysis of sentence effectiveness in the opinion texts from the January 2025 edition of "Harian Jogja." Data collection includes listening and note-taking techniques, while the analysis uses the Aghigh technique. The data is informally presented in tables that highlight ineffective sentences along with their corrections. The study of three opinion texts from the "Harian Jogja" website in January 2025 resulted in a total of 147 sentences, with 118 effective and 16 ineffective sentences. Specifically, in the opinion article titled "Ethics and Productivity of Generation Z," 37 sentences were effective and 5 were ineffective; in "The Rise of Online Purchasing Fraud," 55 sentences were effective and 15 were ineffective; and in "Going through Digital Transformation: Recruitment Challenges in Banking," 26 sentences were effective and 9 were ineffective. This study aims to help distinguish between effective and ineffective sentences in texts.

Fayza, Aura; Buniarto, Edwin Agus; Wahyu K, Brahma

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to analyze the financial health of PT Garuda Indonesia (Persero) Tbk during the 2019–2023 period using eight financial ratios based on the Indonesian Ministry of State-Owned Enterprises (SOEs) Decree No. KEP-100/MBU/2002. The research employed a descriptive quantitative method with secondary data derived from annual financial reports published by the Indonesia Stock Exchange (IDX) and the company’s official website. The findings reveal that Garuda Indonesia’s financial condition fluctuated, categorized as less healthy in 2019, deteriorated into unhealthy during 2020–2021 due to the Covid-19 pandemic, and showed limited recovery in 2022–2023, returning to the less healthy category. The main weaknesses were observed in profitability, liquidity, and solvency, while activity ratios remained relatively sound. This study highlights that Garuda’s financial problems were driven not only by external shocks from the pandemic but also by internal factors such as high debt burden and weak governance. The results are expected to contribute academically by enriching the literature on SOE financial health analysis in the post-pandemic context and provide practical implications for management, policymakers, and investors.

Diwa, Flowrensia Asa; Belawan, Marcelina Bulan; Rachmah, Zahrotul Laila; Hariyanto, Nico; Silintowe, Yunita Budi Rahayu

Adi Widya: Jurnal Pengabdian Masyarakat 2025 Lembaga Penelitian dan Pengabdian Masyarakat

Grobbak Korea merupakan salah satu UMKM yang ada di Kota Salatiga yang membutuhkan pendampingan dalam pemanfaatan media sosial dan platform online untuk meningkatkan pemasaran digitalnya. Permasalahan utama adalah kurangnya pemanfaatan media digital secara optimal, serta tidak adanya strategi konten yang konsisten dan terarah. Kegiatan pendampingan dilakukan pada tanggal 27 April 2025 - 9 Juni 2025. Media sosial yang dikembangkan antara lain melalui Instagram dan TikTok. UMKM Grobbak Korea juga melakukan promosi produk Grobbak Korea melalui Website dan Linktree. Dari kegiatan yang dilakukan terbukti dapat membantu memberikan dampak positif dalam pemasaran UMKM. Aktivitas seperti pengaktifan kembali akun media sosial, pembuatan konten terjadwal, pengunggahan foto produk serta pembuatan Website dan Linktree tersebut mampu meningkatkan interaksi dengan pelanggan. Peningkatan jumlah pengikut Instagram dan video konten di platform TikTok telah menunjukkan bahwa media sosial menjadi solusi efektif pemasaran digital bagi UMKM.

Candrakristawan, Wisnu Aditya; Noventari, Widya; Setyaningsih, Nunung; Utama, Annisa Eka; Famelia, Alina Azka +3 more

Adi Widya: Jurnal Pengabdian Masyarakat 2025 Lembaga Penelitian dan Pengabdian Masyarakat

Era digital membawa tantangan sekaligus peluang dalam pelestarian budaya lokal. Desa Ngaru-Aru, yang kaya akan warisan budaya seperti Tari Topeng Ireng, menghadapi kendala dalam promosi budaya akibat kurangnya dokumentasi dan media digital yang representatif. Program pengabdian masyarakat ini bertujuan mengembangkan website bundaru.com sebagai media edukasi dan promosi seni budaya lokal. Metode yang digunakan meliputi observasi partisipatif, wawancara, dokumentasi, dan FGD dengan pihak-pihak yang terkait. Hasil dari kegiatan ini meliputi peningkatan literasi digital, partisipasi aktif generasi muda, penguatan identitas budaya melalui platform digital dan sarana promosi kebudayaan. Website ini tidak hanya menyajikan informasi tentang sejarah dan filosofi Tari Topeng Ireng, tetapi juga menyediakan galeri, jadwal acara, profil komunitas seni lokal dan kontak dari setiap komunitas atau penggiat seni. Keberhasilan program ini menunjukkan bahwa digitalisasi dapat menjadi strategi efektif dalam pelestarian budaya, sekaligus memperkuat ekosistem sosial dan ekonomi desa berbasis budaya.

Fajar Ramadhan; Rismayanti Rismayanti

Jurnal Riset Rumpun Ilmu Teknik 2025 Pusat riset dan Inovasi Nasional

The rapid development of information technology has had a significant impact on various aspects of life, including the decision-making process that requires precision and objectivity. One of the problems often faced is product selection with various complex criteria, for example in selecting a quality drum. Drums as a percussion instrument have many variations in terms of sound quality, material, design, price, and durability, so a system is needed that can assist users in making a more rational choice. This study aims to develop a website-based Decision Support System (DSS) using the Weighted Product (WP) method to provide recommendations for drum selection. The WP method was chosen because it is able to perform calculations by considering the weight of each criterion so that the recommendation results are more objective. The system implementation is carried out through the design of a user-friendly web-based interface, making it easier for users to access, compare alternatives, and obtain recommendations without having to perform manual assessments that are time-consuming and potentially subjective. System testing was carried out by comparing the results of the system's recommendations with expert assessments, which obtained an accuracy level of 95%. These results indicate that the developed system has a high level of reliability and is suitable for use as an aid in decision-making in selecting quality drums. With this system, it is hoped that users, both beginners and professionals, will find it easier to choose drums that suit their needs and preferences.

Destiani, Fajrin; Gupita Cinantya, Ixsora

Abstrak : Jurnal Kajian Ilmu seni, Media dan Desain 2025 Asosiasi Seni Desain dan Komunikasi Visual Indonesia

The design of the 3:30 Kopi website poster was carried out as an effort to present an effective and modern promotional medium to support information needs and introduce the café’s digital platform to the wider community. In line with the development of the digital era, local SMEs such as 3:30 Kopi are required to remain competitive by utilizing visual media that is both communicative and appealing. This poster functions not only as an information tool but also as a branding strategy to strengthen the café’s identity in the eyes of consumers, particularly in the Ciledug area and its surroundings. The visual concept of the poster was designed with careful consideration of both aesthetics and function. The use of brown and cream tones symbolizes the warm and natural character of coffee, while also creating a friendly and elegant impression. Typography was chosen with a simple yet bold style to ensure information is easy to understand. The main elements, featuring a mockup of the website displayed on both laptop and mobile devices, emphasize the flexibility and responsiveness of the platform, which can be accessed anytime and anywhere. In addition, the inclusion of a QR code provides a modern solution that facilitates quick and practical interaction between the audience and the website. Cultural-inspired ornaments derived from 3:30 Kopi’s signature menu further reinforce its visual identity while adding aesthetic value. Through this poster design, 3:30 Kopi is expected to increase brand awareness, attract new visitors, and strengthen its image as a café that not only offers coffee but also provides a productive social space suited to the needs of modern society.

M. Izzul Azmi; Farihin Lazim; Troubus Gunawan

Merkurius : Jurnal Riset Sistem Informasi dan Teknik Informatika 2025 Asosiasi Riset Teknik Elektro dan Informatika Indonesia

The rapid development of information technology has encouraged government institutions to transform the way they manage data and deliver public services. The Protocol and Leadership Communication Division (Prokopim) of Situbondo Regency plays a strategic role in managing the schedules of regional leaders and documenting each official activity as a form of accountability. Currently, these processes are still managed manually, which causes obstacles in recording, searching, and reporting data. Such limitations reduce efficiency and transparency, indicating the urgency of a structured, accessible, and integrated web-based information system. This research aims to design a web-based system that integrates employee data, leadership agendas, and documentation records into a single platform. The research method combines field observations, interviews with Prokopim staff, and literature studies to analyze user requirements. The system design adopts the Waterfall model, which includes requirement analysis, database design, user interface design, and system modeling using Unified Modeling Language (UML) diagrams such as use case, activity, and sequence diagrams. Database structures are represented through class diagrams, while user interface designs are developed using prototyping. The findings of this study produce a system blueprint that provides a structured framework for digitalizing agenda and documentation processes. The proposed design improves accessibility, accuracy, and efficiency in managing leadership activities. Furthermore, this system can be considered as a practical model for applying digital transformation in government institutions, supporting better accountability and service quality in the public sector.

Situmeang, Ruth Putri Agustina; Indah Aini

Jurnal Rumpun Ilmu Bahasa dan Pendidikan 2025 Asosiasi Periset Bahasa Sastra Indonesia

This study aims to develop an informative website to promote Kampung Ulos Hutaraja as a tourist destination. The background of this study is the lack of comprehensive information about Kampung Ulos Hutaraja on tourism websites, especially in German. The method used is the Richey and Klein development model, which consists of three stages: planning, production, and evaluation. The planning stage was carried out through observation of similar websites and direct visits to Kampung Ulos Hutaraja. In addition, interviews were also conducted with the management of Kampung Ulos Hutaraja, which emphasised the importance of digital information media to support foreign tourists. In the production stage, the website was developed using WordPress and provided in Indonesian and German. The results of the evaluation through material validation and media validation showed that the website scored 95 in the ‘very good’ category for material, while in terms of media it scored 94, which is also in the ‘very good’ category. Thus, the Kampung Ulos Hutaraja website is categorised as a suitable information medium for tourism purposes.

Ashfiyan Ramadhani; Ratna Nur Tiara Shanty; Cempaka Ananggadipa Swastyastu

Router : Jurnal Teknik Informatika dan Terapan 2025 Asosiasi Profesi Telekomunikasi dan Informatika Indonesia

The Student Evaluation of Lecturers (EDOM) at the Faculty of Engineering, Universitas Dr. Soetomo has historically been conducted via Google Forms and processed manually, resulting in slow response times, repetitive recap procedures, and insufficiently documented reporting validity. This study aims to design, build, and evaluate a web-based EDOM system using the Prototype Model (MODEL PROTOTYPE) to improve data collection efficiency, recap accuracy, and the effectiveness of feedback for teaching quality assurance. The development method comprises requirements elicitation with the Quality Assurance Unit through a review of SPMI documents and brief interviews, architectural and interface design (Laravel, MVC pattern, and MySQL), staged prototyping, and rapid iterations based on stakeholder feedback until functional conformity is achieved. The resulting system provides authentication and role-based authorization (Admin, GPM, Lecturer, Student), odd/even period management, a question bank employing a Likert scale, anonymous questionnaire submission, score recap per lecturer and per category (pedagogical, professional, personal, social), dashboard visualizations, and report export to support governance needs. Functional evaluation was conducted through black-box testing on core scenarios (login, period scheduling, submission, recap, and export) and indicated conformance to specifications. User acceptance evaluation employed the Technology Acceptance Model (TAM) to examine perceived usefulness, perceived ease of use, attitude toward use, and behavioral intention; the results indicate positive acceptance and potential for operational adoption. Practically, the prototype approach accelerates requirement alignment, reduces the risk of mis-specification, and facilitates change control, while the Laravel-based implementation supports maintainability, role-based access security, and further feature development. The study is limited to a single faculty; future work may include SSO integration, audit trails, and longitudinal, cross-semester analytics for more comprehensive monitoring of lecturer performance.

Yustina Nona Nadia, Maria; Herdi, Henrikus; Maria Dilliana, Siktania

Jurnal Projemen UNIPA 2025 Universitas Nusa Nipa Maumere

This study aimend to examine the influence of environmental, environmental costs, and enviromental disclosure on profitability in pharmaceutical sub-sector manufacturing companies listed on the indonesia Stock Exchange (IDX). This research employed a quantitative method with purposive sampling techniques. The study used a sample of 11 companies that met the predetermined criteria. The source of data used in this research was secondary data obtained from documents accessed through the official website of the indonesia Stock Exchange (IDX) at www.idx.co.id. The analytical method applied was multiple linear regression analysis. The results indicated that environmental performance (X1) had a negative and significant relationship between PROPER and ROA, environmental costs (X2) had a negative and significant relationship with ROA, and environmental disclosure (X3) had a negative but insignificant relationship with ROA

Rani Yuliandri; Muslimin Muslimin; Ahmad Faisol

Jurnal Ekonomi dan Keuangan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to analyze the effect of dividend policy and profitability on shareholder wealth in companies listed in the High Dividend 20 Index on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. The research adopts a quantitative approach using secondary data obtained from the official IDX website (www.idx.co.id ).The population includes all issuers in the High Dividend 20 Index during the research period, and purposive sampling was applied to select 12 companies as the final sample. Data analysis techniques involved classical assumption testing, multiple linear regression, and hypothesis testing to determine the influence of independent variables on shareholder wealth. The statistical analysis was performed using EViews 12 Student Version software.The findings reveal that the Dividend Payout Ratio (DPR) does not have a significant effect on shareholder wealth, implying that dividend distribution is not the main factor influencing investor value in the observed companies. In contrast, Return on Assets (ROA) demonstrates a significant positive effect, which highlights the importance of profitability in driving shareholder wealth. These results suggest that investors may place greater emphasis on a company’s ability to generate earnings rather than its dividend distribution policy when assessing firm value. The study contributes to the literature on dividend policy and corporate performance by providing evidence from the Indonesian capital market, particularly within firms that consistently distribute high dividends.