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Analytics

Anggun Fitrah Sari; Ade Widiyanti; Ratna Septiyanti; Sari Indah Oktanti

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The purpose of this study is to examine the effect of Good Corporate Governance (GCG), financial performance, and Earning Per Share (EPS) on firm value. The object of this research consists of state-owned enterprises (SOEs) listed on the Indonesia Stock Exchange during the period of 2021–2024. This study employs a quantitative approach using secondary data in the form of annual financial statements as the primary source. The sample was selected using purposive sampling based on predetermined criteria, ensuring that only companies with complete data and consistent reporting were included in the analysis. The independent variables analyzed include the audit committee, independent commissioners, institutional ownership, Return on Assets (ROA), and Earning Per Share (EPS). Multiple linear regression analysis was used to process the data in this study, allowing the researchers to examine the simultaneous and partial effects of the variables on firm value. The findings indicate that firm value is significantly influenced by financial performance, particularly ROA, highlighting the importance of operational efficiency and profitability in enhancing shareholder wealth. While certain GCG variables such as institutional ownership showed positive influence, other elements like audit committees and independent commissioners produced mixed results, suggesting that governance mechanisms may have varying effects depending on organizational context. Meanwhile, EPS demonstrated inconsistent results in relation to firm value, implying that market perceptions of earnings may not fully capture the impact on overall firm valuation. This study provides insights for policymakers, investors, and corporate managers on the relative importance of governance and financial indicators in value creation for state-owned enterprises.

Hidayat, Nurul; Afuan, Lasmedi; Jannah , Helmi Roichatul

Journal of Computing Theories and Applications 2026 Universitas Dian Nuswantoro

Student dropout in higher education remains a persistent socioeconomic challenge, yet many predictive models reported in the literature are methodologically compromised by randomized cross-validation schemes that introduce temporal data leakage and artificially inflate predictive performance. This study proposes a longitudinal prescriptive learning analytics framework integrating three complementary methodological components: a Leave-One-Cohort-Out (LOCO) temporal validation protocol, a hybrid SMOTE-ENN class balancing strategy, and temporal velocity feature engineering derived from Learning Management System (LMS) behavioral trajectories. The framework was evaluated on a longitudinal dataset comprising 464,739 enrollment records and 77 features. Five predictive algorithms—XGBoost, LightGBM, CatBoost, Random Forest, and Logistic Regression—were comparatively assessed on a strictly isolated blind holdout cohort (2022), with CatBoost emerging as the champion estimator, achieving a PR-AUC of 0.8859, a Macro F1-Score of 0.9143, and the lowest Brier Score (0.0221), thereby demonstrating superior calibration and discriminative capability under severe class imbalance (93:7 ratio). Comprehensive ablation analysis revealed that temporal velocity features function not merely as additive predictors, but as a structural prerequisite enabling Synthetic Minority Oversampling Technique with Edited Nearest Neighbors (SMOTE-ENN) to generate high-quality synthetic boundary instances; removing these features reduced minority-class precision from 0.8302 to 0.6721. To operationalize predictive outputs into actionable intervention pathways, Diverse Counterfactual Explanations (DiCE) were implemented under a three-tier causal constraint architecture on 96 borderline high-risk students, generating 384 feasible intervention scenarios exclusively targeting forward-looking behavioral velocity metrics without constraint violations. Collectively, these findings advance the paradigm of prescriptive learning analytics by providing educational institutions with interpretable risk diagnostics and operationally feasible intervention guidance grounded in empirically validated behavioral and temporal dynamics.

Aditya Angger Wibowo

International Journal of Management 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to investigate the influence of academic qualifications, managerial capabilities, and Perceived Organizational Support (POS) on emotional exhaustion and its implications for employee productivity at Sunan Kudus Islamic Hospital. Using a quantitative approach, data were collected via a questionnaire from 138 respondents. Instrument evaluation procedures were conducted through validity and reliability tests, while hypothesis testing was analyzed using Structural Equation Modeling (SEM). The findings reveal that academic qualifications and POS have a significant negative effect on emotional exhaustion, indicating that increased intellectual competence and strong organizational support are effective in reducing staff emotional exhaustion. Conversely, managerial capabilities were found to have no significant influence on emotional exhaustion. In the context of performance, the analysis results show that academic qualifications, managerial capabilities, and POS have a partial, positive, and significant effect on work productivity. Practically, this study suggests that hospital management prioritize human capital development and the strengthening of a supportive organizational climate to mitigate emotional exhaustion while accelerating operational efficiency in a sustainable manner.

Ananda Celosia; Melinda Kusuma Putri; Kasana Bintang Rajasa; Mochammad Isa Anshori

Jurnal Pemimpin Bisnis Inovatif 2026 Asosiasi Riset Ilmu Manajemen dan Bisnis Indonesia

This research is motivated by the increasing role of Artificial Intelligence (AI) in organizational transformation and the crucial function of leadership in ensuring its successful implementation. The primary objective of this study is to analyze the relationship between leadership, AI integration, and organizational performance, as well as to identify various challenges and supporting factors in the process. This study employs a systematic literature review (SLR) method by examining 30 relevant, reputable scientific articles from the Scopus and Google Scholar databases within the 2020–2026 timeframe through selection, evaluation, and thematic synthesis processes. The results indicate that AI integration significantly contributes to improving operational efficiency, data-driven decision-making quality, and organizational innovation. However, this success heavily depends on the role of adaptive, transformational, and digitally-oriented leadership capable of steering the technological vision. Conversely, major challenges were identified, such as employee resistance, limited digital competencies, and ethical issues surrounding data privacy. This study contributes to strengthening the conceptual understanding of leadership's role as a bridge between technology and organizational performance, while offering practical implications for management in designing effective, inclusive, and sustainable digital transformation strategies.

Sri Yulianty Mozin; Alfiyah Agussalim; Mohamad Rasya Mohi; Nazlih Alhusna Abas; Risnawati R. Itani +3 more

Jurnal Penelitian Komunikasi dan Sosialisasi 2026 Asosiasi Peneliti dan Pengajar Ilmu Sosial Indonesia

This study is motivated by the importance of work effectiveness as a key indicator of organizational success in facing an increasingly complex and competitive work environment. Work discipline is viewed as one of the critical factors that can support the achievement of optimal work effectiveness. This study aims to analyze the relationship between work discipline and work effectiveness and to identify the factors influencing them within an organizational context. The method used is a Systematic Literature Review, which involves examining various relevant scientific articles through the stages of identification, selection, evaluation, and data synthesis. The results of the study indicate that work discipline plays a significant role in enhancing work effectiveness through adherence to rules, punctuality, responsibility, and consistency in task execution. Furthermore, work effectiveness can also foster the development of discipline through structured work systems and clear operational standards. The relationship between these two variables is reciprocal and influenced by factors such as leadership, organizational culture, motivation, human resource competencies, and the utilization of technology. The implications of this research underscore the importance of integrating work discipline and organizational systems to sustainably enhance work effectiveness.

Muhammad Rafi Zaidan Ariq; Igo Febrianto

International Journal of Economics and Management Sciences 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Using Non Performing Financing (NPF) as a moderating variable, this study looks at how profit sharing and profit margin financing affect the effectiveness and stability of Islamic banks in Indonesia. The primary topic discussed is how various Islamic financing arrangements affect the operational effectiveness and financial stability of banks, as well as whether credit risk enhances or diminishes these connections. This study aims to examine the direct impacts of financing modalities as well as the moderating influence of NPF on the performance of Islamic banks. Based on secondary data from eight Islamic banks in Indonesia between 2018-2024, this study employs a quantitative methodology using panel data regression and Moderated Regression Analysis (MRA). The findings indicate that while profit margin financing has no discernible impact on efficiency, profit sharing financing has a favorable and considerable impact. Profit margin financing has a negative and negligible impact on stability, whereas profit sharing financing has a positive but negligible impact. Additionally, by changing the direction of influence, NPF significantly moderates the association between profit sharing financing and both efficiency and stability. However, it does not significantly moderate the effect of profit margin financing on efficiency, but it does on stability. In summary, the effectiveness of Islamic financing is heavily reliant on risk management, especially credit risk control, where NPF is a key factor in evaluating whether financing can improve stability and efficiency in Islamic banks.

Purwanto, Heri; Isnanto, R. Rizal; Soesanto, Qidir Maulana Binu; Nursikuwagus, Agus; Ferdiansyah, Fahmi Reza

Journal of Computing Theories and Applications 2026 Universitas Dian Nuswantoro

The rapid proliferation of learning analytics, business intelligence (BI), artificial intelligence (AI), and generative AI (GenAI) has significantly expanded universities’ ability to collect, integrate, analyze, and operationalize institutional data. However, despite advances in predictive analytics, dashboards, and AI-driven systems, the translation of analytical outputs into consistent and accountable institutional decision-making remains uneven. This systematic literature review synthesizes contemporary research on analytics-enabled decision-making in higher education with the aim of moving beyond dashboard-centric perspectives toward a socio-technical and computing-oriented understanding of how data are transformed into institutional actions and outcomes. Guided by the PRISMA framework, the review synthesizes evidence across four interconnected dimensions: data ecosystems and learning analytics foundations; analytics capability, BI adoption, and digital readiness; AI and advanced analytics for decision support; and human-in-the-loop (HITL) decision routines and institutional outcomes. The findings show that predictive performance and analytical sophistication alone do not guarantee decision value. Instead, effective analytics-enabled decision-making depends on interoperable data ecosystems, organizational analytics capability, governance mechanisms, explainability, and sustained human oversight. Based on these findings, this review contributes a computing-oriented decision-intelligence framework that conceptualizes analytics-enabled decision-making as an end-to-end socio-technical pipeline linking heterogeneous data acquisition, integration, feature construction, analytical modeling, explainability, human validation, governance, and feedback-based refinement. By integrating learning analytics, BI, AI, GenAI, and HITL mechanisms within a unified framework, the review clarifies how universities can move beyond dashboard-based reporting toward accountable, adaptive, and institutionally actionable decision-support infrastructures.

Rahmat Fajar Ramdani

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Mergers and acquisitions have served as a primary strategy for global banking consolidation over the past three decades, including in Indonesia, which is currently undergoing one of its most massive consolidation waves—one notable example being the emergence of Bank Syariah Indonesia. This article aims to provide a narrative review of the literature on the operational impacts of mergers on bank performance, with a particular focus on implications for the Indonesian context. Based on a systematic search of the Scopus database, 52 peer-reviewed articles published between 2000 and 2025 were analyzed using a narrative thematic synthesis approach. Five main themes were identified: cost efficiency, service quality, risk management, human resource and cultural integration, and information systems and technology integration. The key findings indicate that although 73.1% of studies report post-merger improvements in cost efficiency, these benefits are highly contingent upon the quality of post-merger integration especially in the areas of human resources, organizational culture, and information technology with IT integration failure rates reaching as high as 75%. Domestic mergers consistently achieve efficiency gains more rapidly than cross-border mergers, whereas risk implications depend heavily on the type of merger and the quality of integration. Policy implications include the need for the Financial Services Authority (Otoritas Jasa Keuangan) to monitor post-merger integration quality, provide integration guidelines for smaller banks, take into account the specific characteristics of Islamic banks, and ensure a streamlined, non-burdensome licensing process. Further research particularly empirical studies on banking mergers in Indonesia—is urgently needed to test the generalizability of global findings to the local context.

Rohmad Hartono; Titin Hargyatni

International Journal of Management and Strategic Business Leadership 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the influence of work environment and work motivation on the performance of outsourced employees at PT Kinarya Selaras Piranti. Phenomena in the field show the challenges of supervisory dualism and operational constraints, such as a difficult reimbursement system, which is suspected to affect productivity. The research method used was a quantitative approach with a saturated sampling technique (census) of 87 respondents. Data were collected through a digital questionnaire and analyzed using multiple linear regression through SPSS software. The results of the study showed that partially, the work environment had a positive and significant effect on employee performance (Sig. < 0.001). Similarly, work motivation has a positive and partially significant influence (Sig. < 0.001). Simultaneously, these two variables have a significant effect on performance with a determination coefficient value (R2) of 92.7%. This indicates that optimizing physical and non-physical conditions and meeting the psychological needs of employees are crucial factors in increasing work effectiveness in the outsourcing services sector.

Cindi Ida Febrianti; Lathifatul Fikriyah; Rafika Meila Sari

Riset Ilmu Manajemen Bisnis dan Akuntansi 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the relationship between salaries, allowances, and employee productivity on company profitability. Human resources are an important factor in determining organizational success because employee quality and performance directly influence the achievement of company goals. Providing appropriate compensation, including salaries and allowances, can increase employee motivation, job satisfaction, and loyalty, thereby encouraging higher work productivity. High productivity reflects the company’s ability to utilize resources effectively and efficiently in order to produce optimal output. In addition, employee turnover is an important aspect that must be considered because it may affect operational stability and the company’s effectiveness in achieving business targets. Profitability is used as the main indicator to assess the company’s ability to generate profits from its operational activities. This study applies a quantitative method with an approach that examines the relationships among variables to obtain an overview of the influence of compensation and productivity on company profitability. The results of this study are expected to provide insights and recommendations for companies in managing human resources more effectively in order to improve financial performance sustainably.

Tazakka Pribadi, Fadhil; Intan Surya Saputra, Dhanar

Saturnus: Jurnal Teknologi dan Sistem Informasi 2026 Asosiasi Riset Teknik Elektro dan Informatika Indonesia

Libraries play a crucial role in broadening the public's knowledge horizons by improving literacy skills. However, the reality at the Samaturu Library in Jambu Malea Village shows that manual management still dominates, leading to various administrative obstacles such as data irregularities, the risk of losing important information, and inefficiencies in tracking daily activities. This condition demands digital transformation to optimize public services at the village level comprehensively and sustainably. This research focuses on the development of a web-based library information system specifically designed to modernize administrative processes to be more systematic, fast, and organized. Built using the PHP programming language and MySQL database, this platform offers an intuitive interface for both staff and members. Its superior features include book data management, membership, activity agendas, announcements, and digitizing the borrowing and return process. Furthermore, the system is capable of automatically generating periodic reports to facilitate library performance evaluation. Based on the results of comprehensive testing using the Black Box Testing method, all system functionality was proven to operate optimally according to the required specifications. Direct user trials also showed very positive responses regarding aspects of ease of navigation and operational time efficiency. The implementation of this system is expected to improve the effectiveness of internal management, accelerate the quality of services to library users, and become a major catalyst in realizing superior digital literacy governance in rural areas.

Humaira Humaira; Mauliza Mauliza; Noviana Zara

JURNAL ILMIAH KESEHATAN MASYARAKAT DAN SOSIAL 2026 CV. ALIM'SPUBLISHING

The increasing complexity of competition in the healthcare industry requires hospitals to adopt adaptive and strategic management practices to enhance organizational competitiveness. This study aims to analyze the role of strategic management in improving hospital competitiveness through a Systematic Literature Review (SLR) approach. A total of 41 national and international scientific articles published between 2014 and 2025 were reviewed, sourced from Scopus, Web of Science, Google Scholar, and Sinta databases, following the PRISMA guidelines for literature selection. The synthesis of findings indicates that strategic management plays a significant role in strengthening hospital competitiveness through clear strategy formulation, consistent implementation, and continuous performance evaluation. Key factors contributing to competitive advantage include strategic leadership, adaptive organizational culture, effective human resource management, utilization of information technology, and integration between strategic planning and operational processes. The results emphasize that hospitals implementing strategic management comprehensively are better equipped to respond to environmental dynamics, improve service quality, and sustain competitive advantage in the long term. This study highlights the importance of strategic management as a foundational element in modern hospital governance and provides a conceptual basis for future empirical research in healthcare management.

Humaira Humaira; Mauliza Mauliza; Noviana Zara

JURNAL ILMIAH KESEHATAN MASYARAKAT DAN SOSIAL 2026 CV. ALIM'SPUBLISHING

The increasing complexity of competition in the healthcare industry requires hospitals to adopt adaptive and strategic management practices to enhance organizational competitiveness. This study aims to analyze the role of strategic management in improving hospital competitiveness through a Systematic Literature Review (SLR) approach. A total of 41 national and international scientific articles published between 2014 and 2025 were reviewed, sourced from Scopus, Web of Science, Google Scholar, and Sinta databases, following the PRISMA guidelines for literature selection. The synthesis of findings indicates that strategic management plays a significant role in strengthening hospital competitiveness through clear strategy formulation, consistent implementation, and continuous performance evaluation. Key factors contributing to competitive advantage include strategic leadership, adaptive organizational culture, effective human resource management, utilization of information technology, and integration between strategic planning and operational processes. The results emphasize that hospitals implementing strategic management comprehensively are better equipped to respond to environmental dynamics, improve service quality, and sustain competitive advantage in the long term. This study highlights the importance of strategic management as a foundational element in modern hospital governance and provides a conceptual basis for future empirical research in healthcare management.

Arief Fahmi Lubis

Jurnal Riset Rumpun Ilmu Sosial, Politik dan Humaniora 2026 Pusat Riset dan Inovasi Nasional

This article examines the complex interactions between the military and civil society in regions affected by conflict, approached from a sociological-legal perspective. The study seeks to understand how military power influences civil society, the ways in which legal and social legitimacy are established, and how local communities respond to military presence and control. Employing a qualitative case-study methodology, the research utilized in-depth interviews with community members and military personnel, extensive field observations, and detailed analysis of relevant legal documents. The findings reveal that military power structures significantly impact civil rights, security, and social dynamics, with interactions ranging from cooperative engagement to open conflict. Furthermore, the legitimacy of military actions is closely linked to factors such as operational performance, transparency, accountability, and social acceptance by local populations. Based on these insights, the article argues for the importance of improving communication channels between military forces and communities, integrating formal legal frameworks with local norms and practices, and actively involving community members in security and governance programs. These measures are proposed as strategies to enhance the legitimacy of military operations, reduce conflict, and promote long-term social stability. The study contributes to the broader understanding of civil-military relations by highlighting the sociological and legal dimensions of military influence in conflict-affected areas.

Irga loti Rante; I Putu Putrawiyanta; Noveriady Noveriady; Nuansa Mare Apui Ganang; Yunida Iashania

Jurnal Riset Rumpun Ilmu Teknik 2026 Pusat riset dan Inovasi Nasional

This study is motivated by the discrepancy between production targets and actual field performance caused by dynamic operational conditions, such as equipment productivity and effective working time. The objective of this research is to redesign the production target and develop a more realistic mine sequence using a rolling plan approach at Pit Hill16. The method includes analyzing the productivity of loading and hauling equipment based on cycle time data, calculating effective working time, and determining production targets using the rolling plan method. Furthermore, mine sequence design is developed based on the adjusted production targets. The results indicate that the productivity of loading equipment is 241.98 BCM/hour for the EC480DL excavator and 123.27 BCM/hour for the EC210DL excavator, while hauling equipment productivity is 40.24 BCM/hour. The April production target based on the rolling plan is 275,913 BCM, which can be achieved through mine sequence design with a volume of 277,839 BCM, resulting in a difference of +1,926 BCM, still within acceptable planning tolerance. Therefore, the rolling plan approach is proven to produce a more adaptive and realistic mining plan under actual field conditions.

Alvino Oktavierdinand Sodikin; I. B. Ketut Bhayangkara

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

Sustainability accounting plays a very important role for companies, especially in managing the operational impacts on the environment and the surrounding community. Therefore, the implementation of sustainability accounting has a significant impact, particularly in the banking industry sector. This study aims to analyze the effects of implementing sustainability accounting in the banking sector, with Bank Mandiri as a case study. The method used in this research is a qualitative approach, focusing on the paradigm and analyzing the causes and effects of the implementation of sustainability accounting. The results show that the implementation of sustainability accounting affects the operations of Bank Mandiri, especially in efforts to reduce the negative impacts on the environment and society. One of the steps taken by Bank Mandiri is integrating sustainability principles into its operational strategy. Based on these findings, it is recommended that Bank Mandiri continue to strive to improve the company's environmental performance and expand sustainability programs that have a positive impact on society and the environment. In this way, the company can create long-term value not only for internal stakeholders but also for the broader community and the environment.

Maura Rahmawati; Yustinus Hendra Wiryanto; Yos David Inso; Hepryandi Luwyk Djanas Usup; Asri Fridtriyanda

Jurnal Riset Rumpun Ilmu Teknik 2026 Pusat riset dan Inovasi Nasional

This study was conducted at PT. Asmin Bara Bronang, Sepan Uring Village, Kapuas Tengah District, Kapuas Regency, Central Kalimantan Province, with the aim of analyzing the productivity and influencing factors of the PC 300 excavator in coal getting activities to support the achievement of production targets. The objective of this research is to analyze the actual productivity and the factors affecting it in Sector 7 coal getting operations. The research method used field observation with a quantitative descriptive analysis approach. The results show that the productivity of the PC 300 excavator ranges from 127.12 to 224.29 tons/hour, with an average of 173.98 tons/hour. In several conditions, the productivity is still below the company’s target of 180 tons/hour. The analysis indicates that productivity is influenced by material conditions, particularly the Hardgrove Grindability Index (HGI) value of 47, which reflects relatively harder material with coarser particle size, and a moisture content of 22.71%, causing the material to be sticky and cohesive, thereby affecting the bucket filling process. In addition, operational factors such as bottom loading patterns, limited number of tailgate dump trucks, and suboptimal selection of dump truck types also contribute to productivity performance.  Based on the findings, it can be concluded that the productivity of the PC 300 excavator has not consistently met the company’s target. Therefore, improvement efforts are required, including the implementation of top loading methods, increasing the number of tailgate dump trucks, optimizing the selection of hauling equipment, and controlling material conditions that affect the digging process.    

Fara Nesya Ananditya; Dian Dinanti; Mustika Anggraeni

Jurnal Riset Rumpun Ilmu Teknik 2026 Pusat riset dan Inovasi Nasional

Urban waste management has become a complex challenge due to population growth, urbanization, and economic activities contributing to higher waste generation. Effective waste management systems are required to reduce waste disposed at final disposal sites. This study aims to evaluate the effectiveness of waste management at the TPS 3R Pedalangan Bersinar facility in Semarang City by examining waste separation from the source. The research applied a quantitative approach using mass balance analysis to assess the balance between incoming waste, processed waste, and residual waste in the system. Primary data were collected through field observations, interviews, and operational monitoring for six consecutive days, while secondary data were obtained from the Semarang Environmental Agency. Results show community-based waste banks in Pedalangan demonstrate a high level of effectiveness with a recovery factor reaching 100%, indicating optimal recycling performance and strong community participation. Meanwhile, the TPS 3R facility processes an average waste volume of 16.61 m³/day with reduction of 10.32 m³/day and residual waste of 6.29 m³/day, resulting in a recovery factor of approximately 0.62 categorized as moderate effectiveness. Therefore, strengthening household waste separation, improving operational management, and increasing community participation are recommended to enhance waste reduction and support sustainable urban waste management systems.

Muhammad Farhan; Hendri Herman; Mefri Yudi Wisra

Jurnal Manajemen Riset Inovasi 2026 Pusat Riset dan Inovasi Nasional

This study aims to analyze the influence of workforce agility, job satisfaction, and job engagement on employee adaptive performance at PT. MMT Buana Logistik. The dynamic logistics industry requires employees who have high adaptability to technological changes and operational demands. This type of research is quantitative causality with an explanatory approach. The population in this study were all employees of PT. MMT Buana Logistik, totaling 49 people, with the sampling technique used saturated sampling (census). Data were collected through questionnaires with a 5-point Likert scale. Data analysis techniques used included instrument testing (validity and reliability), testing of classical assumptions (normality, multicollinearity, and heteroscedasticity), and multiple linear regression analysis. Hypothesis testing was carried out through t-tests (partial), F-tests (simultaneous) and coefficient of determination (R2). The results showed that workforce agility, job satisfaction, and job engagement partially and simultaneously have a positive and significant influence on employee adaptive performance. These findings imply the importance of managing work flexibility, fulfilling employee satisfaction, and increasing work engagement to build adaptive human resources to support company competitiveness in the logistics industry.  

Alhoi Andrew Jefferson; Darwin Lie; Hendry; Merry Rusida

Jurnal Pemimpin Bisnis Inovatif 2026 Asosiasi Riset Ilmu Manajemen dan Bisnis Indonesia

One of the most actively traded and liquid stock groups in the capital market is the LQ45 index, which consistently attracts investor attention due to its strong market capitalization and transaction volume. This study aims to analyze the influence of financial performance and financial management strategies on firm value among companies listed in the LQ45 index on the Indonesia Stock Exchange during the 2018–2022 period. The study population consisted of 73 LQ45-indexed companies, with purposive sampling used to select 23 companies that met the research criteria. This research employed a quantitative approach using path analysis to examine both direct and indirect relationships among variables. The findings indicate that profitability and leverage have a positive and significant effect on firm value. In addition, profitability and leverage also positively influence firm size, indicating that companies with stronger profitability and effective debt management tend to expand their operational scale. However, firm size does not significantly affect firm value and is unable to mediate the relationship between profitability, leverage, and firm value. These results suggest that investors place greater emphasis on profitability and leverage indicators than company size when evaluating firm value in LQ45 companies. Therefore, effective financial performance remains the primary factor in enhancing corporate value and investor confidence.