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All Journal Journal of Business & Banking BAKI (Berkala Akuntansi dan Keuangan Indonesia) Jurnal Manajemen Indonesia Jurnal REKOMEN (Riset Ekonomi Manajemen) JAF- Journal of Accounting and Finance Journal of Research in Business, Economics, and Education Jurnal Ekobis : Ekonomi Bisnis & Manajemen
Devi Wahyu Utami
Universitas Tidar
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences

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 1 
Size, Growth, Profitability and Capital Structure Axel Giovanni; Devi Wahyu Utami; Eka Widiyaningrum
Jurnal REKOMEN (Riset Ekonomi Manajemen) Vol 4, No 1 (2020)
Publisher : Universitas Tidar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31002/rn.v4i1.3142

Abstract

This study aims to provide empirical evidence regarding the role of profitability, firm size and firm growth in explaining the variability of capital structure. The research sample was taken using purposive sampling method. The research sample that met the criteria was 34 companies in the consumer goods industry which were listed on the Indonesia Stock Exchange for the 2015-2018 period. The independent variables consist of profitability, company size and company growth. In this study, hypothesis testing was carried out using linear regression processed through SPSS software. The coefficient of determination is 98.58%, meaning that the variability of the capital structure is influenced by the variables of profitability, company size and company growth. Based on the results of linear regression analysis with a significance level of 5%, the results provide evidence that there is a negative and significant relationship between profitability and capital structure and there is a positive and significant relationship between company growth and capital structure. This study also provides evidence that firm size has no role as a determinant of capital structure.
Konflik Keagenan dalam Perspektif Keuangan Keperilakuan Axel Giovanni; Devi Wahyu Utami; Umi Dwi Astuti; Fania Fania
JAF (Journal of Accounting and Finance) Vol 5 No 1 (2021): JAF- Journal of Accounting and Finance
Publisher : Telkom University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25124/jaf.v5i1.3556

Abstract

Penelitian ini bertujuan untuk memberikan tinjauan teoritis mengenai keterkaitan mental accounting, overconfidence dan konflik keagenan. Konflik keagenan dapat dipicu karena pihak manajemen sebagai agent tidak bertindak sesuai dengan kepentingan pemilik perusahaan. Konflik keagenan dapat dijelaskan melalui perspektif keuangan keperilakuan yakni mental accounting dan overconfidence. Ditinjau dari aspek mental accounting, investor dimungkinkan menunjukkan perilaku yang berbeda pada setiap post atau account. Dalam konteks pendapatan berupa dividen, pemegang saham mengelompokkan dividen sebagai bagian dari akun current income, maka pemegang saham menghendaki dividen dalam besaran atau jumlah yang signifikan serta dibayarkan secara rutin. Sementara, pihak manajemen sebagai agent yang mengasumsikan memiliki informasi lebih akan mengutamakan current income digunakan sebagai sumber pembiayaan internal sesuai dengan perpektif pecking order theory. Dalam perspektif overconfidence, konflik agensi dipicu karena kecenderungan manajemen perusahaan memberikan nilai yang berlebihan atas kemampuannya dalam mencapai tujuan sehingga mengesampingkan probabilitas terjadinya resiko.
PERFORMANCE VARIABILITY OF STATE OWNED ENTERPRISES IN FINANCIAL SECTOR AND FINANCIAL TECHNOLOGY COMPANIES DURING THE COVID-19 PANDEMIC Axel Giovanni; Devi Wahyu Utami; Alifa Jauzaa; Clarisa Alfa Lionora
Berkala Akuntansi dan Keuangan Indonesia Vol. 6 No. 1SP (2021): Berkala Akuntansi dan Keuangan Indonesia Edisi Spesial (2021)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/baki.v6i1SP.26740

Abstract

This study aims to provide empirical evidence related with financialsector performance and the development of fintech lending inIndonesia during the Covid-19 pandemic. The sample consisted of4 State-Owned Enterprises (BUMN) in the financial sector and 149financial technology (fintech) companies registered in the FinancialServices Authority (OJK). This research used descriptive statistics.The results show that during the Covid-19 pandemic, theperformance of State-Owned Enterprises (SOEs) in the financialsector and financial technology companies (fintech) has increased.However, the increase in the performance of State-OwnedEnterprises (SOEs) in the financial sector and financial technology(fintech) companies during pandemic was still below theperformance increase before the Covid-19 pandemic in Indonesia.
Leverage dan Profitabilitas dalam Memprediksi Financial Distress Perusahaan Pertambangan Periode 2016-2018 Axel Giovanni; Devi Wahyu Utami; Thesya Yuzevin
Journal of Business & Banking Vol 10, No 1 (2020): Mei - Oktober 2020
Publisher : STIE Perbanas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jbb.v10i1.2292

Abstract

Financial distress merupakan suatu kondisi di mana sebuah perusahaan mengalami kesulitan keuangan. Adanya fenomena perusahaan yang ter-delisting dari Bursa Efek Indonesia menjadi dasar untuk mengkaji ulang model prediksi kesulitan keuangan yang tepat. Penelitian ini bertujuan untuk memberikan bukti secara empiris mengenai pengaruh leverage dan profitabilitas dalam memprediksi financial distress. Sampel penelitian  diperoleh dengan menggunakan metode purposive sampling. Sampel penelitian yang memenuhi kriteria sebanyak 40 perusahaan sektor pertambangan yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016-2018. Dalam penelitian ini, pengelompokkan perusahaan yang mengalami financial distress menggunakan model Altman Z-score. Pengujian hipotesis dalam penelitian ini menggunakan regresi logistik. Berdasarkan hasil analisis regresi logistik dengan tingkat signifikansi 5%, hasil penelitian ini menunjukkan bahwa leverage memiliki pengaruh negatif dan signifikan terhadap prediksi financial distress serta profitabilitas memiliki pengaruh positif dan signifikan terhadap prediksi financial distress. Penelitian selanjutnya diharapkan mempertimbangkan aspek makroekonomi dalam memprediksi kondisi financial distress perusahaan.
Capital Structure and Financial Distress: Empirical Study of Companies in the Mining Sector and the Infrastructure, Utilities & Transportation Sector Devi Wahyu Utami; Heni Hirawati; Axel Giovanni
Journal of Research in Business, Economics, and Education Vol. 2 No. 6 (2020): December Edition
Publisher : Kusuma Negara Business School

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to provide empirical evidence about the effect of capital structure on financial distress in mining sector companies and the infrastructure, utilities and transportation sectors for the 2014-2018 period. The research sample was 37 companies in the mining sector and 44 companies in the infrastructure, utility and transportation sectors which were obtained through purposive sampling method. The data analysis technique uses logistic regression. The results provide evidence of a negative and significant relationship between capital structure and financial distress in the mining sector as well as a positive and significant relationship between capital structure and financial distress in the infrastructure, utility and transportation sectors.
STRUKTUR MODAL DAN PROFITABILITAS: STUDI EMPIRIS PADA PERUSAHAAN SEKTOR PERTAMBANGAN PERIODE 2014-2018 Devi Wahyu Utami; Heni Hirawati; Axel Giovanni
Jurnal Ekobis : Ekonomi Bisnis & Manajemen Vol 11, No 1 (2021): Jurnal Ekobis: Ekonomi Bisnis dan Manajemen
Publisher : STIE Muhammadiyah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37932/j.e.v11i1.173

Abstract

Penelitian ini bertujuan untuk membuktikan secara empiris pengaruh struktur modal terhadap profitabilitas perusahaan sektor pertambangan yang terdaftar di Bursa Efek Indonesia pada periode 2014-2018. Sampel penelitian terdiri dari 11 perusahaan pertambangan yang memenuhi kriteria penarikan sampel. Variabel independen adalah struktur modal, sedangkan variabel dependen adalah profitabilitas. Teknik pengumpulan data dilakukan dengan teknik dokumentasi, selanjutnya dianalisis dengan menggunakan persamaan regresi linier berganda yang diolah melalui program software SPSS. Hasil dari penelitian memberikan bukti bahwa debt to equity ratio memiliki hubungan negatif signifikan terhadap profitabilitas. Sementara debt to asset ratio serta longterm debt to equity ratio tidak memiliki peran dalam menjelaskan profitabilitas.
Fenomena struktur modal di Indonesia Axel Giovanni; Devi Wahyu Utami; Ibnu Nur Hamzah
Jurnal Manajemen Indonesia Vol 22 No 2 (2022): Jurnal Manajemen Indonesia
Publisher : Fakultas Ekonomi dan Bisnis, Telkom University.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25124/jmi.v22i2.3578

Abstract

This study aims to provide empirical evidence regarding the capital structure phenomenon in non-financial sector companies in Indonesia. The study population was all non-financial companies listed on the Indonesia Stock Exchange for the 2014-2018 period. The research sample of 1,770 companies obtained through the purposive sampling method. This research uses descriptive study method. The result of this study show that the basic industry and chemical sectors have the highest average use of debt than other non-financial sectors in the 2014-2018 period. Meanwhile, the consumer goods industry is the non-financial sector, with the lowest average debt utilization level in the 2014-2018 period. This study sees that, in general, the company's capital structure changes with changes in macroeconomic conditions. Keywords— Capital structure; descriptive study; phenomenon
Co-Authors Alifa Jauzaa Axel Giovanni Clarisa Alfa Lionora Eka Widiyaningrum Fania Fania hirawati, heni Ibnu Nur Hamzah Thesya Yuzevin Umi Dwi Astuti