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Analytics

I Wayan Krisna Yudha; I Gde Kajeng Baskara

International Journal of Economics, Management and Accounting 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Firm value reflects investors’ perception of a company’s success, often associated with stock price. An increase in firm value can serve as a positive signal for investors, indicating promising future prospects. This study aims to examine and explain the influence of leverage, company size, and asset structure on the value of mining companies listed on the Indonesia Stock Exchange. The study involves a sample of 77 mining companies for the period 2020–2024. Data was collected using a non-participant observation method. The analytical technique employed is multiple linear regression analysis. The results show that leverage has a positive and significant effect on firm value, company size has a negative and significant effect on firm value, and asset structure has a positive but insignificant effect on firm value.

Rosmiati Rosmiati; Isnaini Khoirunnisa; Henike Sobolim; Bangun Putra Prasetya

Riset Ilmu Manajemen Bisnis dan Akuntansi 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the impact of dividend policy, interest rates, and inflation on the stock prices of financial sector companies in Yogyakarta. The data used are secondary data obtained from company financial reports and macroeconomic indicators over a specific period. The analytical method employed is multiple linear regression to determine the extent to which the independent variables affect stock prices as the dependent variable. The results indicate that dividend policy has a significant positive effect on stock prices, while interest rates and inflation have a negative impact. These findings provide important implications for investors and financial managers in formulating investment strategies and dividend policies, as well as in considering macroeconomic conditions in financial decision-making within the financial sector.

Yuniar Almaidah; Ervita Safitri; Mister Candera

Epsilon : Journal of Management (EJoM) 2025 Lembaga Pengabdian Masyarakat Universitas Ichsan Gorontalo

This article aims to analyze the differences in stock performance before and after mergers and acquisitions in companies listed on the Indonesia Stock Exchange (IDX). The problem focuses on the impact of mergers and acquisitions on stock performance indicators, such as Stock Returns, Price Earnings Ratio (PER), Price to Book Value (PBV), and Earnings Per Share (EPS). In order to approach this problem, theoretical references from financial management and market efficiency theory are used. Data were collected through financial statements of companies undergoing mergers and acquisitions in the 2018-2020 period and analyzed quantitatively using normality tests and significant difference tests with paired sample t-tests. This study concludes that mergers and acquisitions have a significant effect on increasing several stock performance indicators, especially Stock Returns and PBV, although the impact on PER and EPS varies depending on the industry sector and market conditions. The results of this study are expected to provide insight for investors and business actors in assessing the effectiveness of mergers and acquisitions as a company growth strategy.

Putu Cindra Permata Dewi; Anak Agung Gde Putu Widanaputra

International Journal of Economics, Management and Accounting 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Firm value is the company's performance reflected in the stock price, which is determined by the demand and supply in the capital market, representing public perception of the company's performance. This study aims to obtain empirical evidence on the influence of millennial leaders and CSR disclosure on firm value, with firm age as a control variable, in companies listed in the LQ45 Index from 2021 to 2023. The population of this study consists of 45 companies. Sampling was conducted using a non-probability sampling method with a purposive sampling technique, resulting in a total of 16 company samples. The analysis technique employed is multiple linear regression analysis. The results show that millennial leaders positively affect firm value, while CSR disclosure negatively affects firm value. This study provides theoretical implications by offering additional information and empirical evidence regarding the influence of millennial leaders and CSR disclosure on firm value. It also offers practical implications for company leaders to pay more attention to factors that can enhance firm value.

Salsabila Indah Arti Pratama; Chara Pratami T

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to examine the effect of liquidity, profitability, and solvability ratios on investment decisions while also investigating the moderating role of firm size in this relationship. The research focuses on manufacturing companies listed on the Indonesia Stock Exchange for 2019-2023, which are marked by significant economic disruptions, including the COVID-19 pandemic. A quantitative approach was employed, using panel data regression to test the proposed hypotheses. Financial ratios were measured using the current ratio, return on assets, and debt-to-equity ratio, while investment decisions were assessed using the price-earnings ratio. The natural logarithm of total assets measured firm size. The results reveal that liquidity and solvability significantly influence investment decisions, while profitability does not. Firm size was found to moderate the relationship between liquidity and solvability with investment decisions, but not the relationship involving profitability. These findings have practical implications for investors and corporate managers in formulating investment strategies and managing financial performance, highlighting the importance of considering firm size when evaluating the effectiveness of economic indicators. This research also contributes to the empirical literature on investment decision-making in the manufacturing sector.

Elis Rumini; Chika Agustina

Gemawisata: Jurnal Ilmiah Pariwisata 2025 Sekolah Tinggi Ilmu Ekonomi Pariwisata Indonesia

Dumplings are many people's favorite food made from  flour with filling inside. Research conducted on chicken dumplings used bones as dumpling filling. Bones were not very well known in the culinary, with this research it is hoped that it will increase the selling value of  bones as well as increase the variety of dumpling menus. This research aims to determine the level of panelists' preferences based on five quality attributes, for appearance, color, texture, flavour and taste. Apart from that, it is also to find out recipe standards, business analysis, and the shelf life of dumplings. The method used was research and development with five expert panelists from lecturers and 20  panelists from students and consumers of Kedai Rest Area 12. The results of the organoleptic test assessment on average, stated that they liked it very much: appearance 72%, color 84%, texture 92%, flavour 88%, and taste 92%. The standard recipe was: 1kg chicken breast, 500g  bones, 150g eggs, 10g garlic, 25g sago flour, 15g salt, 5g sugar, 5g pepper, 10g mushroom stock, 10g oyster sauce, 10g sesame oil , 5g soy sauce, 50pcs wonton skin, and 10g flavoring. Fried bone chicken dumplings can be stored at room temperature (20-25°C) for one day, but before frying stored in the freezer at (-17)°C can last for more than one week. Calculation results the basic price/pax (50pcs) is IDR 71,000, while the selling price is IDR. 120,000. BEP will be achieved after selling 45 pax, margin targets of IDR. 5,000,000 then must sell 149 pax/month. Suggestions for future researchers are to create various sauces to complement fried dumplings.

Rosyid Rosyid; Siti Asriah Immawati; Jamalus Jamalus

Jurnal Bisnis Inovatif dan Digital 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Financial markets are a crucial component of the global economy, where market volatility is a primary concern for investors. This study aims to analyze the relationship between investor behavior and market volatility, focusing on how sentiment and trading behavior influence stock price dynamics. Understanding this relationship can offer valuable insights for investors and policymakers in managing market fluctuations. The study used primary data from questionnaires distributed to 400 investors. The results indicate that risk perception, investment decisions, and investor experience have a positive and significant effect on the perception of market volatility. In contrast, investor emotions, such as fear and anxiety, negatively affect their perception of volatility. The level of uncertainty investors experience significantly influences their assessment of market fluctuations. A higher perceived risk leads to a stronger tendency to perceive increased market volatility. Furthermore, the actions of investors in the stock market impact their perceptions of price changes. More active investors tend to be more aware and sensitive to market fluctuations, while those influenced by negative emotions may underestimate the extent of market changes, leading to a lower perceived volatility. Investors often ignore important market signals when trying to avoid losses, which can impact their investment decisions. Experienced investors, having encountered various market cycles, are better at handling market fluctuations. Their ability to analyze and interpret market information allows them to manage risks more effectively and optimize long-term investment returns.

Fitroni Nuzula Putri; Mariana Mariana

DHARMA EKONOMI 2025 sekolah Tinggi Ilmu Ekonomi Dharmaputra Semarang

This study aims to analyze the reaction of the Indonesian capital market to the inauguration of President Prabowo-Gibran using the event study method. The important variables in this study are abnormal returns and trading volume activity, with the population of all companies listed in the LQ45 stock index. The observation period was 14 days. The data consists  of daily closing stock  price, daily closing price of LQ45 IHSG, daily trading volume, and the number of shares outstanding. Hypothesis testing was conducted using the non-parametric Wilcoxon Signed Rank Test, as the data is not normally distributed. The results showed that there was no significant difference in  the average abnormal return. However, a significant difference in the average trading volume activity was found between the periods before and after the presidential inauguration event.  

Widya Fatmawati; Liza Alvia

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to analyze and evaluate the impact of the implementation of PSAK No. 69 (Biological Assets) on market performance, with company performance acting as a mediating variable, in agricultural sector companies listed in Indonesia. PSAK No. 69 was adopted to improve transparency and reliability in the financial reporting of biological assets, which are a significant component in the agricultural industry. The research adopts a quantitative approach, utilizing secondary data derived from the annual financial reports of companies and stock price information accessed via the Indonesia Stock Exchange (IDX) and the official websites of relevant companies for the period of 2018–2023.The study investigates the relationship between the intensity of biological assets and company performance, as measured by Return on Equity (ROE), as well as the relationship between company performance and market performance, as measured by Stock Return. The analysis results indicate that the intensity of biological assets has a significant positive impact on ROE. However, the direct effect of biological asset intensity on Stock Return is not statistically significant. Nevertheless, the mediation test reveals that ROE has a significant positive effect on Stock Return, thereby confirming the mediating role of ROE in the relationship between biological asset intensity and Stock Return.These findings imply that the implementation of PSAK No. 69 indirectly affects market performance through its influence on company performance. This highlights the importance of financial performance as a transmission channel in understanding the market implications of accounting regulation changes. The study provides useful insights for investors, regulators, and other stakeholders in evaluating the financial and market consequences of biological asset accounting standards in the agricultural sector.

Febryana Sudarmaka Putri; Nur Rahmanti Ratih; Miladiah Kusumaningarti

Jurnal Akuntan Publik 2025 International Forum of Researchers and Lecturers

The purpose of this study is to determine partially or simultaneously with the variable profitability (which is proxied by ROE), investment decisions (which are proxied by PER), and funding decisions (which are proxied by DER) on firm value (which is proxied by PBV). The population in this study are mining companies in the oil and gas sub-sector which are listed on the Indonesia Stock Exchange for the 2017-2021 period either partially or simultaneously. The sampling technique uses saturated sampling method. From this method, all companies became the research sample during the five-year observation period. The total sample is 11 companies. The analytical method in this test uses multiple regression analysis using the SPSS version 25 test tool. The results show that partially profitability (which is proxied by ROE) has no effect on firm value (which is proxied by PBV, investment decisions (which are proxied by PER) has partially affected on firm value (which is proxied by PBV), and funding decisions (which are proxied by DER) partially have no effect on firm value (which is proxied by PBV), Profitability (which is proxied by ROE), investment decisions (which are proxied by PER), and funding decisions (which are proxied by DER) simultaneously affect firm value (which is proxied by PBV). The Fcount value is greater than the Ftable value (7.338>2.00758) with a significant value of 0.000 which means less than 0.05.

Rusdiah Hasanuddin; Nadya Nurhidayah Nurdin; Nurasia Natsir

International Journal of Economics, Management and Accounting 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study examines the relationship between corporate financial disclosure and investment decisions by shareholders and investors in capital markets. Using a comprehensive dataset of 486 publicly listed companies from multiple stock exchanges over a five-year period (2018-2022), we investigate how the quality, scope, and timing of financial disclosures influence investment behaviors, pricing efficiency, and capital allocation. Through multiple regression analysis, structural equation modeling, and panel data techniques, we find that higher disclosure quality is significantly associated with increased trading volumes (β=0.42, p<0.01), lower bid-ask spreads (β=-0.38, p<0.01), and reduced stock price volatility (β=-0.31, p<0.01). Our analysis reveals that voluntary disclosures beyond regulatory requirements have a stronger impact on institutional investor decisions compared to retail investors. Additionally, the study documents that forward-looking financial information and segment reporting have particularly strong effects on investment decisions during periods of market uncertainty. The findings contribute to disclosure theory and provide empirical evidence for regulators considering disclosure policy reforms, corporate executives formulating communication strategies, and investors developing investment frameworks that incorporate disclosure quality assessment. The study addresses the causality challenge through instrumental variable estimation and difference-in-differences analysis of regulatory changes, enhancing the robustness of the identified relationships.

Laili Muslihah; Ernie Hendrawaty; Ahmad Faisol

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

This study examines the presence of the Monday effect in companies listed in the IDX30 index on the Indonesia Stock Exchange (IDX) from February 2018 to January 2023. The Monday effect is a market anomaly where stock returns on Mondays tend to be systematically different from other trading days. This phenomenon, if proven, challenges the efficient market hypothesis. The main research problem is whether the Monday effect exists in IDX30 stocks during the specified period. The study aims to provide empirical evidence regarding this anomaly in the Indonesian stock market. The research employs a quantitative approach, utilizing secondary data in the form of daily stock closing prices. The sample consists of 15 companies that were consistently listed in the IDX30 index throughout the study period, selected through a purposive sampling method. The analysis is conducted using the One-Way ANOVA test with SPSS 27 statistical software to compare stock returns across different trading days. The findings confirm the presence of the Monday effect in IDX30-listed stocks, indicating that stock returns on Mondays exhibit statistically significant differences compared to other days. These results suggest that behavioral factors and market inefficiencies may influence stock price movements in the IDX30 index. This study contributes to the literature on stock market anomalies and provides insights for investors and policymakers regarding trading strategies and market efficiency in Indonesia.

Susanti Marito Barus; Komang Dharmawan; Luh Putu Ida Harini

International Journal of Applied Mathematics and Computing 2025 Asosiasi Riset Ilmu Matematika dan Sains Indonesia

Determining the price of option contracts is a crucial aspect of financial markets, particularly for investors aiming to manage risk and make informed investment decisions. In this study, the price of an Asian call option is calculated using the Monte Carlo Stratified Sampling method based on the stock price data of Tesla, Inc. (TSLA) from January 2021 to December 2023. This method has been proven to reduce variance compared to the Standard Monte Carlo simulation, leading to faster price convergence and more efficient results. The parameters used in the simulation include the initial stock price  (S_0), number of simulations (N), maturity time  (T)dividend = 0, risk-free rate (r), strike price ( K), and volatility

Tutun Zalsal Bella

Mahkamah : Jurnal Riset Ilmu Hukum 2025 Asosiasi Peneliti dan Pengajar Ilmu Hukum Indonesia

Indonesia, which previously traded carbon through a voluntary market mechanism, has switched its carbon trading implementation through a carbon exchange (IDX Carbon) since September 26, 2023. This means that carbon trading in Indonesia is carried out through the Indonesia Stock Exchange (IDX), and all carbon units are traded as securities or securities, whereas previously carbon transactions in Indonesia were voluntary. The implementation of carbon trading is a form of Indonesia's commitment to implementing the Paris Agreement and the Kyoto Protocol in reducing Greenhouse Gas emissions by 29% in 2030 with its own capabilities and up to 41% with international support. In the implementation of carbon trading in Indonesia, it is carried out through a mandatory market and the Indonesia Stock Exchange has been appointed as the institution organizing carbon trading, but the regulations that form the basis for the implementation of carbon trading do not clearly regulate how to determine carbon prices, the institution authorized to issue Technical Approval for Upper Emission Limits for Business Actors (PTBAE-PU) and Greenhouse Gas Emission Reduction Certificates as units traded on the Carbon Exchange.

Resya Zahrani Yulian; Desy Anggraeni

Jurnal Mutiara Ilmu Akuntansi (JUMIA) 2025 Pusat Riset dan Inovasi Nasional

Firm value represents the value required by investors to make investment decisions, as reflected in the company's market price. It also represents the growth value for shareholders, which is mirrored in the company's stock market price. Firm value signifies the prosperity of shareholders; when the firm's value is high, shareholder prosperity is also high. The objective of this study is to determine the influence of financing decisions, profitability, solvency, and company size on firm value. The population consists of industrial sector companies listed on the Indonesia Stock Exchange (IDX) with financial statements for the 2019–2023 period. The sample was selected using purposive sampling based on specific criteria, resulting in 41 companies. This study utilizes multiple linear regression analysis, facilitated by the SPSS Version 22 program. The results of this study indicate that funding decisions as measured by the debt to equity ratio have a positive and significant effect on firm value, profitability as measured by return on assets has a positive and significant effect on firm value, solvency as measured by the debt to asset ratio has a negative and significant effect on firm value, and firm size as measured by firmsize has no effect on firm value.

Epifanius Oskarino; Didik Trisbiantoro

Mikroba : Jurnal Ilmu Tanaman, Sains Dan Teknologi Pertanian 2025 Asosiasi Riset Ilmu Tanaman Dan Hewani Indonesia

This study aims to analyze the relationship between demand and supply of skipjack tuna at the Fish Auction Place (TPI) Sedati, Sidoarjo Regency. Data were collected through observations, interviews, and literature studies. The research results indicate that fish prices, community income, and supply costs significantly influence the demand and availability of fish at TPI Sedati. Proper stock management is necessary to maintain a balance between demand and supply to improve fishermen's welfare and market efficiency.

Raul Jordan Reevhandy Lau; Apollo Daito

International Journal of Economics, Management and Accounting 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study examines the phenomenon of delays in the delivery of financial reports (audit report lag) which can cause negative reactions from investors and other users of financial reports. This delay is often seen as a bad signal and can indicate stock price fluctuations. Variables studied in this study include financial distress, profitability, and audit quality and their effects on audit report lag. This study uses objects in the form of manufacturing companies listed on Indonesia Stock Exchange (IDX) in period 2018-2022. The study population includes all manufacturing companies, and the sample was selected using a purposive sampling technique, which resulted in 50 companies as samples with a total of 250 observation data. The method used in this study is quantitative analysis with a statistical approach using multiple linear regression run on the SPSS version 25 program. Tests were conducted to determine the effect of financial distress, profitability, and audit quality on audit report lag. The results showed that financial distress has a positive effect on audit report lag, while profitability and audit quality have a negative effect on audit report lag.

Aditya Yunanto; Atri Nodi Maiza Putra

Jurnal Mutiara Ilmu Akuntansi (JUMIA) 2025 Pusat Riset dan Inovasi Nasional

This study analyzes the effect of profitability ratios (Return On Assets/ROA, Return On Equity/ROE) and leverage ratio (Debt to Equity Ratio/DER) on stock prices of mining companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. The study is motivated by stock market uncertainty influenced by companies’ financial performance. This research employs a quantitative approach with a sample of 14 companies selected through purposive sampling. Secondary data were analyzed using regression to examine the relationship between these variables and stock prices. The results show that, partially, ROA, ROE, and DER have no significant effect on stock prices. However, simultaneously, these variables influence stock prices. These findings suggest that companies should improve asset and equity management efficiency to enhance sustainable profitability. Additionally, companies must optimize capital structure to maintain leverage at an ideal level and minimize financial risk. Future research is recommended to expand the sample, extend the analysis period, and consider macroeconomic factors, market sentiment, and government policies that may affect stock prices.

Bela Santia; Mukhzarudfa Mukhzarudfa; Muhammad Ridwan

International Journal of Economics and Accounting 2025 International Forum of Researchers and Lecturers

This study aims to determine the effect of Debt to Equity Ratio (DER), Return On Equity Ratio (ROE), Price Earning Ratio (PER), Earning Per Share (EPS) on Health Sector Companies listed on the Indonesia Stock Exchange in 2020-2023. The population in this study were all health sector companies listed on the IDX. The number of samples collected was 17 companies with 5 years of observation (85 observation data) that met the criteria. The analysis method used was the classical assumption test, multiple linear regression analysis, while hypothesis testing used Simultaneous and Partial tests. The results of this study indicate that DER has a positive and significant to stock prices, ROE is not affects stock prices, PER does not influence on stock prices, EPS has a positive and significant influence on stock prices.  

Fitri Sabiyla Yassarah; Sumarno Manrejo; Bambang Prayogo

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to determine the fair price of shares in determining stock investment decisions in state-owned banking issuers listed on the Indonesia Stock Exchange in 2019-2023. This research method uses a qualitative descriptive approach. There are three companies in the study that are the subjects of the study, namely PT Bank Rakyat Indonesia, PT Bank Negara Indonesia, and PT Bank Mandiri. Using fundamental analysis with stock valuation using the price earning ratio (PER) method. The study uses secondary data. The application of fundamental analysis with stock valuation using the price earning ratio (PER) method shows that in 2019, 2021, 2022 and 2023 BBRI, BBNI, and BMRI shares were undervalued (cheap), while in 2020 BBRI and BBNI shares were overvalued (expensive) and BMRI shares were undervalued (cheap).