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This study focuses on analyzing the influence of sustainability reports, free cash flow, and sales growth on the financial performance of energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. Financial performance is measured using Return on Assets (ROA) as the main indicator to assess a company's ability to generate profits from its total assets. This study uses a quantitative approach with multiple linear regression analysis to examine the relationship between variables. The data used are documentary data with secondary data sources obtained from financial reports and company sustainability reports. A purposive sampling technique was applied to determine the research sample based on certain criteria, resulting in 95 observational data. The results show that free cash flow and sales growth have a significant influence on financial performance, indicating that the company's ability to generate free cash and increase sales directly contribute to performance improvements. Conversely, sustainability reports were not proven to have a significant effect on financial performance, so sustainability disclosure has not been a determining factor in increasing the ROA of energy sector companies during the study period.

This study is motivated by the importance of financial report transparency in property and real estate companies, particularly regarding earnings management practices that may affect the quality of information for stakeholders. The purpose of this research is to analyze the effect of tax planning, free cash flow, sales growth, and managerial ownership on earnings management in property and real estate companies during the 2020–2023 period. The method employed is a quantitative approach using multiple linear regression analysis with SPSS Version 29. The research sample consists of 21 companies over four years of observation, resulting in 84 financial reports as the research data. The analysis results indicate that sales growth and free cash flow have a positive influence on earnings management, whereas tax planning and managerial ownership show no significant effect. This study confirms that internal factors such as sales performance and cash flow management are more dominant in influencing earnings management compared to ownership aspects or tax strategies. Therefore, companies are advised to focus more on operational efficiency and cash flow management, as well as to enhance governance quality to minimize earnings management practices.

This research is an empirical study that aims to examine the influence of a number of financial indicators on company value in the construction and building subsectors listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. The indicators analyzed include profitability, free cash flow (FCF), and leverage. This study uses a purposive sampling approach involving 9 issuers and produces 45 observation data. The analysis method used is multiple linear regression to test the relationship between independent variables and company value as measured by Price to Book Value (PBV). The results of the study show that the performance of Return on Assets (ROA) as well as the Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER) ratios have a significant effect on increasing the company's value. In contrast, other indicators such as Net Profit Margin (NPM), Free Cash Flow (FCF), and Long-Term Debt to Equity Ratio (LTDtER) did not show a significant influence. These findings indicate that investors prioritize capital utilization efficiency and sound funding structures in assessing the value of a company, compared to free cash flow or net profit margins. This research provides important implications for company management and investors in formulating financial strategies that are oriented towards increasing the company's value in a sustainable manner.

The phenomenon of tax avoidance in Indonesia remains a significant issue, one of which is the case of PT. Adaro Energy Tbk, which practiced tax avoidance through transfer pricing to its subsidiary in Singapore, Coaltrade Service International, from 2009 to 2017. Based on this phenomenon, this study aims to analyze the effect of leverage and profitability on tax avoidance with transfer pricing as a moderating variable in coal subsector energy companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2023 period. This study uses descriptive analysis methods, classical assumption tests, Moderated Regression Analysis (MRA), and hypothesis testing with t-tests. The data processing tool used is SPSS version 23. The study population consisted of 45 companies, and through purposive sampling technique, 12 companies were obtained as samples with a three-year observation period, resulting in a total sample of 36 data. The results show that leverage has a positive effect on tax avoidance, while profitability has no effect on tax avoidance. Meanwhile, transfer pricing has a negative effect on tax avoidance. Interestingly, transfer pricing has been shown to strengthen the relationship between leverage and tax avoidance, as well as the relationship between profitability and tax avoidance. This finding confirms that "transfer pricing can be a significant moderating factor in corporate tax management strategies." Therefore, the results of this study contribute to understanding tax avoidance practices in the coal subsector for companies and regulators, as well as providing policy implications for tax regulations in Indonesia.

This study aims to analyze the influence of leverage (DER), free cash flow (FCF), and operational efficiency using inventory turnover (ITO), and receivables turnover (RTO) on company value, with company size as a control variable, in food and beverage sector companies listed on the Indonesia Stock Exchange for the 2018–2023 period. The method used is panel data regression with the Fixed Effect Model approach. The results of the study show that leverage has a significant negative effect, and inventory turnover has a significant positive effect on the company's value. Meanwhile, FCF and RTO had no significant effect, while company size had a negative effect. Robustness checks with PBV as proxy for alternative values showed relatively consistent results. These findings support the signal theory, that operational efficiency and a well-managed financial structure can strengthen investors' perception of a company's value.

This study aims to analyze the effect of company size, profitability, investment, and free cash flow on dividend payment policy in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2019–2021 period. The research method used is a quantitative approach with multiple linear regression analysis techniques. The sample in this study consisted of 25 manufacturing companies selected through a purposive sampling method based on certain criteria. The results of the study indicate that company size, investment, and free cash flow have a positive and significant effect on dividend payment policy. Meanwhile, profitability has a negative and significant effect on dividend payment policy. This finding indicates that dividend payment policy is more influenced by the financial and liquidity aspects of the company, not solely by the level of profitability. This study implies that companies need to consider internal factors such as size and cash flow in formulating dividend policies, especially in uncertain economic conditions.

This study investigates the impact of cashless payment technologies, specifically e-toll and Garda Total Objek (GTO), on customer satisfaction and travel efficiency on the Tangerang-Merak Toll Road. The research demonstrates that the implementation of these technologies significantly enhances travel time efficiency and overall user satisfaction, providing a more seamless and convenient toll payment experience. Despite these positive outcomes, the study identifies several technical challenges that hinder optimal performance. Notably, there is an 18% transaction failure rate, primarily caused by malfunctions in card reader devices and server disruptions, which negatively affect the customer experience. In addition to technological reliability, the quality of service delivered by field staff and the degree of customer loyalty emerge as critical factors influencing sustained use of the digital payment system and overall satisfaction levels.The study underscores the importance of time efficiency and customer loyalty as key drivers for improving service quality and encouraging the widespread adoption of cashless systems. To address these challenges, the study recommends enhancing the reliability of payment devices and network infrastructure through regular maintenance and upgrades. Furthermore, the adoption of Multi-Lane Free Flow (MLFF) technology is suggested to allow toll transactions without stopping, thereby reducing traffic congestion and waiting times at toll plazas. Continuous staff training is essential to improve service response and technical troubleshooting. Additionally, customer loyalty programs offering incentives like discounts and rewards could increase user engagement. The study also emphasizes the need for increased public education on cashless payment systems and their features to minimize resistance and misunderstandings. Finally, ongoing monitoring and evaluation based on user feedback are critical for promptly addressing issues and sustainably improving customer satisfaction.

This study analyzes the effect of sales growth and capital intensity on operating cash flow at PT Sumber Alfaria Trijaya, Tbk during the 2013–2024 period. The research problem raised is whether sales growth and capital intensity have a significant effect on the company's operating cash flow. The purpose of this study is to prove the relationship between these two independent variables and operating cash flow, thus providing a basis for managerial decision-making in Indonesian retail companies. The data used in this study are secondary data in the form of annual financial statements of PT Sumber Alfaria Trijaya, Tbk over the last eleven years. The method used is a quantitative approach with regression analysis, preceded by classical assumption tests including normality, multicollinearity, heteroscedasticity, and autocorrelation tests to ensure the validity of the regression model. The results show that the residuals are normally distributed, the regression model is free from multicollinearity and heteroscedasticity, but there is positive autocorrelation in the residuals. Simultaneously, sales growth and capital intensity are proven to have a significant effect on the company's operating cash flow. These findings emphasize the importance of efficient management of sales growth and capital intensity in maintaining the stability of operating cash flow.

This research aims to analyze the effect of free cash flow on financial distress through return on assets and debt to assets ratio in the pharmaceutical subsector listed on the Indonesia Stock Exchange (BEI) during the period of 2020-2023. The analytical methods employed include descriptive analysis, correlation analysis, classical assumption testing, multiple linear regression analysis, and path analysis. The tool used for analysis is SPSS Version 25. The population consists of 13 companies, and through purposive sampling, a sample of 10 companies was obtained, resulting in a total of 40 firm observations over the 4-year period. The findings indicate that free cash flow has a negative effect on financial distress. Additionally, free cash flow positively influences both return on assets and debt to assets ratio. Return on assets has been proven to mediate the effect of free cash flow on financial distress, while debt to assets ratio does not demonstrate significant mediating capability. The originality of this research builds upon previous studies by introducing return on assets as a moderating variable and also incorporates debt to assets ratio as a moderating variable in the analysis.

This research aimed to determine empirically the influence of Return On Assets, Free Cash Flow, Firm Size and Price Earnings Ratio on Dividend Payout Ratio on consumer non-cyclicals companies listed on the IDX in 2019 – 2023. This research was conducted using secondary data such as company financial reports. Datas were collected by  purposive sampling technique. In line with that, there were 95 datas from 19 companies which consistently give dividends each year. Additionally, the research used multiple linear regression model which was tested using IBM Statistics Product and Solution (SPSS) version 26. The results of the analysis showed that Return On Assets dan Price Earnings Ratio have positive and significant effect on Dividend Payout Ratio. Free Cash Flow and Firm Size have no significant effect on Dividend Payout Ratio.