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CAPITALS STRUCTURE AND INVESTMENT DECISIONS ON FIRM VALUE WITH PROFIFITABILITY AS A MODERATOR Syamsudin, Syamsudin; Setiadi, Iwan; Santoso, Dwi; Setiany, Erna
Riset Akuntansi dan Keuangan Indonesia Vol 5, No 3 (2020): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v5i3.13217

This study aims to examine the effect of capital structure and investment decisions on firm value with profitability as a moderating variable. Capital structure is measured by debt to equity ratio, investment decisions are measured by price earnings ratio, profitability is measured by Return on Assets and firm value is measured by Tobins Q. The analytical tool used is multiple linear regression analysis to test the direct effect between variables and the Moderated Regression Analysis is used to test the effect of moderating variables. The sampling method uses purposive sampling technique. The research sample amounted to 18 LQ45 non-financial sector companies listed on the Indonesia Stock Exchange from 2013 to 2017. The results of the study prove that capital structure, investment decisions and profitability have a significant positive effect on firm value. Profitability is proven to be able to moderate the influence of capital structure and investment decisions on firm value. The implications of this study indicate that profitability has an important role in realizing the dimensions of the company's growth prospects that have an impact with increasing corporate value.

The Effect of Corporate Governance on Cash Holdings Darma, Nasya Saniyah; Lukviarman, Niki; Setiany, Erna
Jurnal Dinamika Akuntansi Vol 13, No 2 (2021): September 2021
Publisher : Department of Accounting, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jda.v13i2.32896

Purpose: This study aims to tests the effect of corporate governance on cash holdings empirically. This study proxies corporate governance into four proxies: family ownership, institutional ownership, size of the board of commissioners, and proportion of independent commissioners. In addition, this research uses five control variables, namely, bank relationship, company size, leverage, return on assets, and cash flows.Method: The samples were chosen based on the purposive sampling technique from consumer goods companies listed in the Indonesian Stock Exchange during 2015-2019, with 77 firm years. In order to test hypotheses, this study performed multiple regression analysis.Finding: The results showed that board independence negatively affect cash holdings, while family ownership, institutional ownership, and board size have not.Novelty: This study extends the limited previous research on the relationship between corporate governance and cash holdings, especially in the consumer goods industry sector listed on the Indonesia Stock Exchange for the period 2015-2019.

Comparative Analysis of Good Corporate Governance Implementation Based on ASEAN Corporate Governance Scorecard from the Indonesian Banking Industry Ramsey Ramli; Erna Setiany
Jurnal Keuangan dan Perbankan Vol 25, No 1 (2021): January 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i1.4779

The phenomenon of Good Corporate Governance (GCG) implementation in Indonesia is still lagging compared to the other countries in the ASEAN region. For the first time, Indonesia only placed 2 (two) issuers from the banking industry as the ASEAN Top 50 publicly listed companies in the event of Awards and Recognition of Top ASEAN Publicly Listed Companies in 2015. This study aims to analyze significant difference of the GGG implementation among the Top 50 and non-Top 50 ranked banks using ASEAN Corporate Governance Scorecard (ACGS) index and its correlation with the human resources (HR) policies. The data analysis of this study uses descriptive and nonparametric comparative analyses with the Mann-Whitney test method. Despite some limitations, the empiric results showed that there are significant differences in the implementation of the GCG among the Top 50 and non-Top 50 ranked banks as proxied by the total score of the ACGS. On the contrary, there are no significant differences in the HR policies as proxied by the ACGS score on the Role of Stakeholders.DOI: https://doi.org/10.26905/jkdp.v25i1.4779

Pengaruh Voluntary Disclosure of Financial Information dan CSR Disclosure terhadap Earning Response Coefficient Hesti Fitriani; Erna Setiany
Jurnal Akuntansi dan Bisnis Vol 14, No 2 (2014)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jab.v14i2.158

The purpose of this study is to determine the effect of voluntary disclosure of financial information and CSR disclosure to earning response coefficient on manufacturing companies listed in Indonesian Stock Exchange in 2010-2012. This study use disclosure index proposed by Setiany (2013) to measure the scope of the voluntary disclosure of financial information. As for the CSR Index, adapted from Sembiring (2005), which measures the scope of CSR disclosure. Earnings response coefficient is measured by cumulative abnormal return regression (CAR) with unexpected earnings (EU) ± 5 (five) days in the period from the date of issuance window annual report. This study uses multiple regression analysis. Samples of this research are 75 companies listed on Indonesia Stock Exchange in 2010-2012. The results indicated that voluntary disclosure of financial information have no significant effect on earnings response coefficient, while CSR disclosure has a positive effect on earnings response coefficients

Pelapor Kecurangan: Persepsi Kerugian Personal, Status Pelanggar, Dukungan dan Perlindungan Organisasi Erna Setiany; Annisa Hakim Zamzami; Sri Wahyu Agustiningsih
Jurnal Akuntansi dan Bisnis Vol 20, No 2 (2020)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

Employee participation as a whistleblower is still low. This is due to various factors that make employees reluctant to report the fraud they have encountered, such as perceptions of personal loss and the status of offenders. On the other hand, there are factors that allow employees to blow the whistle, such as organizational support and protection. Thus, this study examines personal cost factors, offender status, organizational support and protection against internal whistleblowing intentions. Respondents of this study were 112 accounting students who have worked in both the private and government sectors in DKI Jakarta. The results showed that only organizational protection had a significant effect on internal whistleblowing intentions. Meanwhile, personal costs, violator status, and organizational support have no significant effect on internal whistleblowing intentions.Partisipasi karyawan menjadi whistleblower masih tergolong rendah. Hal ini disebabkan oleh berbagai faktor yang membuat karyawan enggan untuk melaporkan kecurangan mereka temui, seperti persepsi kerugian pribadi dan status pelanggar. Dilain sisi terdapat factor yang memungkinkan karyawan untuk melaporkan kecurangan, seperti dukungan dan proteksi organisasi. Dengan demikian penelitian ini menguji faktor persepsi kerugian pribadi, status pelanggar, dukungan dan proteksi organisasi terhadap niat pelaporan kecurangan internal. Responden penelitian ini adalah 112 mahasiswa akuntansi yang sudah bekerja baik sektor swasta maupun pemerintahan di DKI Jakarta menggunakan kuisioner dan dianalisis menggunakan SEM berbasis kovarian dengan Smart PLS 2.0. Hasil penelitian menunjukkan bahwa hanya perlindungan organisasi yang signifikan berpengaruh terhadap niat pelaporan kecurangan internal. Sedangkan spersepsi kerugian pribadi, status pelanggar, dan dukungan organisasi tidak signifikan berpengaruh terhadap niat pelaporan kecurangan internal.

Pengaruh Corporate Governance Terhadap Pengungkapan Forward-Looking Information Irma Novia; Niki Lukviarman; Erna Setiany
Jurnal Akuntansi dan Bisnis Vol 21, No 2 (2021)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

This study investigated the influence of corporate governance on the disclosure of forward looking information The Secondary data for the study collected from annual report of consumer goods industry manufacturing companies that listed in Indonesia Stock Exchange for 2017-2019, by using purposive sampling technique, 122 annual reports were obtained as the research sample. Model Analysis in this research is multiple linear regression analysis models. The results of this study showed that the board size and the frequency of audit committee meetings has a positive and significant effect on disclosure of forward looking information, the proportion of independent audit committees has a negative and significant effect on disclosure of forward looking information and the proportion of board independence, public ownership and audit quality have no significant effect on disclosure of forward looking information.Penelitian ini bertujuan untuk menguji pengaruh corporate governance terhadap pengungkapan forward looking information. Data sekunder yang digunakan dalam penelitian ini yaitu data dari laporan tahunan perusahaan manufaktur sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia pada tahun 2017-2019, dengan teknik purposive sampling didapatkan 122 laporan tahunan sebagai sampel penelitian. Untuk pengujian hipotesis, peneliti menggunakan model analisis regresi linear berganda. Hasil penelitian ini menunjukkan bahwa ukuran dewan komisaris dan frekuensi rapat komite audit berpengaruh positif dan signifikan terhadap pengungkapan forward looking information, proporsi komite audit independen berpengaruh negatif dan signifikan terhadap pengungkapan forward looking information dan proporsi komisaris independen, kepemilikan publik dan kualitas audit tidak berpengaruh signifikan terhadap pengungkapan forward looking information.

CAPITALS STRUCTURE AND INVESTMENT DECISIONS ON FIRM VALUE WITH PROFIFITABILITY AS A MODERATOR Syamsudin Syamsudin; Iwan Setiadi; Dwi Santoso; Erna Setiany
Riset Akuntansi dan Keuangan Indonesia Vol 5, No 3 (2020): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v5i3.13217

This study aims to examine the effect of capital structure and investment decisions on firm value with profitability as a moderating variable. Capital structure is measured by debt to equity ratio, investment decisions are measured by price earnings ratio, profitability is measured by Return on Assets and firm value is measured by Tobins Q. The analytical tool used is multiple linear regression analysis to test the direct effect between variables and the Moderated Regression Analysis is used to test the effect of moderating variables. The sampling method uses purposive sampling technique. The research sample amounted to 18 LQ45 non-financial sector companies listed on the Indonesia Stock Exchange from 2013 to 2017. The results of the study prove that capital structure, investment decisions and profitability have a significant positive effect on firm value. Profitability is proven to be able to moderate the influence of capital structure and investment decisions on firm value. The implications of this study indicate that profitability has an important role in realizing the dimensions of the company's growth prospects that have an impact with increasing corporate value.

Edukasi dan Pelatihan Investasi Keuangan Untuk Pelajar Sebagai Investor Pemula di SMK Al-Ihsan Jakarta Barat Angela Dirman; Annisa Hakim; Erna Setiany
Lamahu: Jurnal Pengabdian Masyarakat Terintegrasi Vol 1, No 2: August 2022
Publisher : Universitas Negeri Gorontalo

There are still many people, especially teenagers who have not realized the importance of having financial management in their personal lives. Now is the right moment for students to start learning to invest. Al-Ihsan Vocational High School West Jakarta is one of the Vocational Schools in the City of Jakarta. As one of the vocational high schools in the city of Jakarta, Al-Ihsan Jakarta Vocational School has the same role as other vocational schools, namely to prepare students to be competent in the chosen field of study. Almost all students at the Al-Ihsan Vocational School in West Jakarta do not understand comprehensively about financial investment, especially mutual fund investment through online. This is what encourages the provision of financial investment education and training. The training is carried out in community service activities in the form of education and training. Financial investment education and training can provide benefits for Al-Ihsan Vocational School students in increasing knowledge and understanding in investing, especially as novice investors with limited funds. Overall, the trainees understood the material presented and were able to try out mutual fund investment applications. The atmosphere of the activity was very conducive and participants were actively discussing. Participants stated that they were very satisfied with the activities held and hoped that similar activities would be held again with different themes.

The Effect of Ownership Structure and Company Transparency on Tax Avoidance with Profitability as Moderating Variables Vicky Firmando; Erna Setiany
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 3 (2022): Budapest International Research and Critics Institute August
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i3.6817

The purpose of this research is to examine the moderating role of institutional ownership and corporate transparency on tax avoidance and profitability among manufacturing firms traded on the Indonesia Stock Exchange throughout the period 2018-2020. The quantitative approach was taken in the planning of this study. Purposive sampling was utilized to collect data from as many as 64 businesses per year. During the study's three-year observation period, 192 participants were served as the overall sample size. As shown by the data, institutional ownership and corporate openness are factors that reduce tax avoidance. Then, Profitability moderates the institutional ownership of Tax Avoidance, but it does not moderate the corporate transparency that results from Tax Avoidance.

The Influence of Corporate Governance Internal Mechanisms and Directors' Remuneration on Performance of the Company (The Case of Banking Industries in Indonesia) Narita Pravitasari; Erna Setiany
Jurnal Keuangan dan Perbankan Vol 26, No 3 (2022): JULY 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i3.7726

This research was conducted with the point of knowing the impact of the corporate governance internal mechanism and the remuneration of directors on performance of the company. This research focuses on the internal mechanism consisting of the board of directors’ size, internal directors, external directors, Audit Committee, Nomination and Remuneration Committee, board meeting frequency, and ownership structure. Corporate performance consists of Return on Assets (ROA) utilized to measure financial performance while Price to Book Value (PBV) is utilized to measure market performance. This research data is derived from secondary data and is sourced from the official annual report of the company. The population used in this survey was from a banking company listed on the Indonesia Stock Exchange (IDX) between 2016 and 2020. This research used purposive sampling technique and obtained a sample of 38 companies. The analysis in this study uses a panel data regression model with the help of the EViews program. The results showed that the Audit Committee had a positive and significant influence on ROA but had no influence on PBV. The board meeting frequency has no influence on ROA, but this variable has a negative and significant influence on PBV. Meanwhile, the size of the board of directors, internal directors, external directors, Nomination and Remuneration Committee, ownership structure, and remuneration of directors have no influence on ROA and PBV.

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