ANALISIS PENGARUH PROFITABILITAS, STRUKTUR KEPEMILIKAN, DAN UKURAN PERUSAHAAN TERHADAP KINERJA PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING

Penelitian ini bertujuan untuk menguji pengaruh profitabilitas, struktur kepemilikan, dan ukuran perusahaan terhadap kinerja perusahaan dengan struktur modal sebagai variabel intervening. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2014-2016. Sampel dalam penelitian ini dipilih menggunakan metode purposive sampling, dan diperoleh sebanyak 27 perusahaan. Teknik analisis yang digunakan dalam penelitian ini adalah analisis regresi linier berganda. Hasil analisis menunjukkan bahwa profitabilitas, struktur kepemilikan, dan ukuran perusahaan secara simultan berpengaruh terhadap struktur modal, dan menunjukkan bahwa profitabilitas, struktur kepemilikan, ukuran perusahaan dan struktur modal secara simultan berpengaruh terhadap kinerja perusahaan. Hasil analisis uji parsial menunjukkan bahwa profitabilitas, struktur kepemilikan berpengaruh negatif signifikan terhadap struktur modal, sedangkan ukuran perusahaan berpengaruh positif signifikan terhadap struktur modal. Hasil penelitian ini juga menunjukkan profitabilitas, struktur kepemilikan, ukuran perusahaan dan struktur modal berpengaruh positif signifikan terhadap kinerja perusahaan. Struktur modal dapat memediasi pengaruh variabel profitabilitas, struktur kepemilikan dan ukuran perusahaan terhadap kinerja perusahaan

Board Diversity and Its Effects on Performance and Risk: A Study in Banking Firms in Indonesia

Research aims: This study examines the effect of board diversity on firm performance and risk in Indonesia's banking firms.Design/Methodology/Approach:  The population in this study was the banking industry in Indonesia obtained from the Bloomberg database, OSIRIS database, and company annual reports. The sampling technique used in this study was purposive sampling. The sample in the study consisted of 160 company-years of observation for 40 listed banks in Indonesia. The period of the analysis was from 2014 to 2018.Research findings: The results showed that a woman director had a positive effect on performance. The results also revealed that a woman director had a negative effect on the risk because a woman director could correct bias in important decisions. These results are consistent with resource dependence theory that different types of directors provide additional beneficial resources to the firm. This paper then confirms that in banks, the type of diversity seems to be vital because a more diverse board provides more valuable resources, which should improve firm performance and reduce risk. Otherwise, based on the research data, the small number of foreign directors made their existence not affecting performance and risk.Theoretical contribution /Originality: There is still a lack of previous studies that examined the effect of board diversity on performance and risk, especially regarding the heterogeneity of the directors’ nationality in Indonesia. Based on the explanation, this research is expected to contribute to the knowledge regarding the diversity of directors in Indonesia in managing performance and risk.Practitioner/Policy implication: Based on the empirical evidence, directors' gender diversity had a positive effect on optimizing firm performance and minimizing risk. Thus, the company's policy regarding the diversity of directors can be considered, especially about the existence of a woman director.Research limitation/Implication: This study only took a sample of companies included in the banking industry, so this study's results are not necessarily generalizable to companies with different industry types. This study also looked at the diversity of directors based on the directors' demographic characteristics, namely gender and nationality. Future research may use or add to other types of diversity

Mengelola Sumber Daya Manusia dalam Organisasi yang Luwes dan “Sexy”

Perusahaan-Perusahaan di berbagai sektor perekonomian mengubah cara-carapengelolaan agar bisa tetap kompetitif. Mereka menjalankan usaha dengan jumlahkaryawan lebih sedikit, tingkat manajemen lebih sedikit dan lebih luwes. Praktikmanajemen apa yang diterapkan di organisasi-organisasi ini? Apa yang diharapkan olehtop eksekutif dalam lingkungan baru ini? Organisasi yang luwes, ramping dan datarmemunculkan tantangan bagi manager dan staf sumber daya manusia.Artikel ini mendiskripsikan sejumlah penerapan manajemen yang banyakdilaksanakan dalam Perusahaan-Perusahaan software, jasa keuangan, dan manufakturteknologi tinggi. Meskipun tidak semua Perusahaan memiliki karakteristik yang samadengan jenis Perusahaan tersebut tetapi pada umumnya saat ini banyak Perusahaantelah menerapkan praktik ini dalam meningkatkan fleksibilitas mereka. Beberapa ciriyang dominan dari penerapan manajemen pada Perusahaan yang akan dibahas ditulisan ini adalah adanya Perubahan peran strategi sumber daya manusia, Perubahantanggungjawab staf sumberdaya manusia dalam melaksanakan manajemen yang lebihfleksibel dan Perubahan dalam manajemen fungsi sumberdaya manusia itu sendiri

MICRO AND SMALL ENTERPRISES FINANCING MODEL THROUGH THE REVOLVING FUND MANAGEMENT INSTITUTION IN INDONESIA: AHP APPROACH

The government established a Revolving Fund Management Institution (LPDB) which aims to help capitalize MSMEs by providing loan and financing assistance as needed. This study attempts to analyze effective MSME financing strategies to improve LPDB’s performance using the Analytic Hierarchy Process approach. The results show thatfrom the perspective ofgoals development, an increase in the workforce is considered more priority than a reduction in poverty and inequality. Meanwhile, from the perspective of the criteria for developing LPDB in Indonesia, the success of utilization is the priority compared to other criteria. From an alternative side, the form of a cooperative or Islamic cooperative is preferred over other forms.Keywords: LPDB Sharia, Small medium enterprises, Analytic Hierarchy Proces

Effect of leverage, company growth and operating cash flow on bond ratings with firm size as moderation

This study aims to analyze the effect of leverage, company growth and operating cash flow on bond ratings with firm size as a moderating variable. The type of research used is quantitative. Applies data from financial sector companies listed on the Indonesian Stock Exchange. Data collection method using purposive sampling method. There are 18 company objects during the 2016-2021 period so that 108 samples were obtained. The data analysis method uses interaction analysis, namely moderation regression analysis with the using of SmartPLS 3. The results of this research show that leverage has a negative impact on bond ratings. Company growth and operating cash flow have no impact on bond ratings. Firm size has a positive impact on bond ratings. Firm size can moderate the relationship between leverage and bond ratings. Firm size cannot moderate the relationship between company growth and bond ratings. Firm size cannot moderate the relationship between operating cash flows and bond ratings

The Effect Of Capital Structure, Profitability and Liquidity on Firm Value With Dividend Policy As A Moderating Variable

Goals of this study are to see if there is an effect of capital structure, profitability and liquidity on firm value by including dividend policy as a moderation variable. In this study, a quantitative approach was chosen. This study’s population includes all companies in the LQ45index from periode 2018-2021 and purposive sampling is used in this research sampling techniques. Multiple regression analysis and the absolute difference test were used in this study. According to the findings of this study, capital structure has no effects on firm alue, profitability has positive effects on firm value, and liquidity has positive effects on firm value, dividend policy as moderation is not able to moderate the effect of capital structure on firm value, dividend policy variable as moderation is unable to moderate the effect of profitability on firm value also liquidity on firm value cannot moderate by dividend policy.Penelitian ini bertujuan menguji apakah ada pengaruh struktur modal, profitabilitas serta likuiditas terhadap nilai perusahaan dengan menambah kebijakan dividen sebagai variabel moderasi. Pendekatan kuantitatif dipilih dalam penelitian ini. Seluruh perusahaan yang masuk di dalam indeks LQ45 merupakan populasi dalam penelitian ini dengan periode 2018-2021. Teknik pengambilan teknik sampel penelitian ini menggunakan purposive sampling. Metode analisis yang digunakan dalam penelitian ini adalah analisis regresi berganda dan uji beda mutlak. Hasil dari penelitian membuktikan bahwa variabel struktur modal tidak ada pengaruhnya terhadap nilai perusahaan, profitabilitas memiliki pengaruh positif terhadap nilai perusahaan serta likuiditas memiliki pengaruh positif terhadap nilai perusahaan, kebijakan dividen sebagai pemoderasi tidak mampu memoderasi pengaruh struktur modal terhadap nilai perusahaan, variabel kebijakan dividen sebagai pemoderasi tidak mampu memoderasi pengaruh profitabilitas terhadap nilai perusahaan juga likuiditas terhadap nilai perusahaan yang tidak mampu dimoderasi kebijakan dividen

THE EFFECT OF INTELLECTUAL CAPITAL AND GOOD CORPORATE GOVERNANCE ON FINANCIAL PERFORMANCE IN BANKING SECTOR REGISTERED IN INDONESIA STOCK EXCHANGE WITH COMPETITIVE ADVANTAGE AS INTERVENING VARIABLES FOR 2016-2019

The purpose of this study is to obtain empirical evidence of the role of Competitive Advantage in mediating the relationship between Intellectual Capital and Good Corporate Governance and Financial Performance. The population of this study is the banking sector companies listed on the Indonesia Stock Exchange (BEI) 2016-2019. The method of determining the sample using a purposive sampling technique. The number of samples obtained was 31 companies with a total of 124 observations. Based on the research results, it was found that the variable that had a direct influence on the Competitive Advantage was the Good Corporate Governance variable, while the Intellectual Capital variable did not have a direct effect. Meanwhile, the variables that have a direct influence on financial performance are the variables of Good Corporate Governance and Competitive Advantage. Based on the results of the analysis, it was also found that Competitive Advantage was not able to mediate the relationship between Intellectual Capital and Financial Performance but was able to mediate the relationship between Good Corporate Governance and Financial Performance. Keywords: Intellectual Capital, Good Corporate Governance, Competitive Advantage, Financial Performanc

Factors Affecting Personal Financial Management

Research aims: This study aims to analyze the effect of financial education in the family, financial literacy, peers, and a hedonism lifestyle on personal financial management. Design/Methodology/Approach: Based on Roscoe's calculations, 100 respondents were sampled. The results of the analysis show that financial education in the family do not affect students personal financial management. The population in this study were undergraduate students of the Faculty of Economics and Business, University of Muhammadiyah Purwokerto, Jenderal Soedirman University, and State Islamic University of Saifuddin Zuhri class of 2018-2020. The sample selection in this study used a purposive sampling technique. Research findings: The results of the analysis show that financial education in the family do not affect students personal financial management. Meanwhile, financial literacy, peers, and hedonism lifestyle have a positive effect on students personal financial management. Theoritical contribution/Originality: This study uses the theory of planned behavior, which in this theory states that there are three factors that influence this theory, namely 1) attitude towards behavior, 2) subjective norm, and 3) perceived behavioral control. This study gives contribution to manage personal management.Practitioner/Policy implication: Practically, this research implies the importance of managing personal finances so as to avoid consumptive behavior. Research limitation/Implication: Limitations in this study are the results of R2 of 46%, which means that the variables studied are good enough to influence the personal financial management of students and also this research is only in 1 faculty with a sample of 100

Fintech dalam Keuangan Islam: Teori dan Praktik

Book Chapter terkait fintech, namun untuk memberikan distingsi dengan kajian terdahulu, serta agar tidak terjadi reduplikasi pembahasan, diskursus fintech di sini akan ditinjau dari perspektif keuangan Islam yang holistik yang tersebar dalam 18 (delapan belas) pembahasan