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STRUKTUR KEPEMILIKAN SEBAGAI DETERMINAN NILAI PERUSAHAAN Krismi Budi Sienatra; Sumiati Sumiati; Andarwati Andarwati
Jurnal Akuntansi Multiparadigma Vol 6, No 1 (2015): Jurnal Akuntansi Multiparadigma
Publisher : Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (822.929 KB) | DOI: 10.18202/jamal.2015.04.6010

Abstract

Abstrak: Struktur Kepemilikan sebagai Determinan Nilai Perusahaan. Penelitian ini bertujuan menguji pengaruh struktur kepemilikan, leverage, dan kebijakan dividen terhadap nilai perusahaan. Hubungan struktur kepemilikan, leverage, kebijakan deviden, dan nilai perusahaan didasarkan konflik yang terjadi antara pemilik dengan manajer dan pemilik dengan kreditur. Penelitian dilakukan menggunakan analisis jalur dengan mengambil sampel pada perusahaan manufaktur di Indonesia terutama yang terdaftar di lantai bursa. Hasil penelitian ini menunjukkan kepemilikan manajerial dan institusional, leverage, dan kebijakan deviden mampu memaksimalkan nilai perusahaan.Abstract: Ownership Structure as the Determinant of Firm Value. This study aimed to examine the effect of ownership structure, leverage, and dividend policy on firm value. The relationship of ownership structure, leverage, dividend policy, and the value of the company is based on the conflict between the owners and the managers, and between the owners and the creditors. The study was conducted using path analysis by taking samples of manufacturing company in Indonesia, especially those listed on the stock exchange. The results of this study demonstrate that managerial and institutional ownership, leverage, and dividend policy are able to maximize firm value.
Peran Fleksibilitas Strategi dan Orientasi Pasar pada Peningkatan Inovasi dan Kinerja Usaha Kecil Menengah Sektor Industri Pengolahan Kota Malang Sumiati Sumiati
Jurnal Manajemen Teori dan Terapan | Journal of Theory and Applied Management Vol. 12 No. 3 (2019)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v12i3.15404

Abstract

The processing industry is a growing industry and accounts for around 1/5 of Indonesia's total Gross Domestic Product. This study analyzes the factors that influence the performance of SMEs in the manufacturing industry sector in Malang. Some variables such as internal and external environment, market orientation, are considered as important variables that influence the performance of SMEs, this study aims to examine the effect of market orientation and strategy flexibility on SME innovation and performance. This research is an explanatory study using a sample of 180 managers of processing industry SMEs in Malang. The data collected was analyzed using Structural Equation Modeling (SEM). Strategic flexibility and market orientation are found directly (direct effect) to affect innovation and company performance positively. In addition, proven innovation acts as a mediator in the influence of strategy flexibility and market orientation on company performance. Likewise, company performance has a role as a mediator for each strategy flexibility and market orientation towards innovation.
Improving company value: the role of human capital, structural capital, capital employed, investment decisions, and manager's attitude to risk Sumiati Sumiati; Risna Wijayanti; Pusvita Yuana; Choirul Nikmah
BISMA (Bisnis dan Manajemen) Vol. 14 No. 2 (2022)
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (302.601 KB) | DOI: 10.26740/bisma.v14n2.p110-123

Abstract

Various studies show that companies and organizations have realized that knowledge-based capital is an important company asset. Managing the company's knowledge-based capital is one of the important tasks to encourage companies to compete with other companies. This study aims to identify the knowledge-based capital in human capital, structural capital, and capital employed by companies and its effect on investment decisions that affect company value. Through literature review, this concept also incorporates managers' risk attitude, which is part of ERM (Enterprise Risk Management) to develop the concept of Knowledge-based Risk Management (KBRM). Based on path analysis using AMOS, the result shows direct influence of human capital and capital employed on investment decisions is not significant. Meanwhile, the direct influence is significant. Investment decision does not mediate the relationship between human capital, structural capital, and capital employed on company value. Furthermore, managers' attitude to risk as risk-averse weakens the relationship between investment decisions and company value. Based on that result, companies need to reconsider managers’ behaviour in facing risks so that managers able to take risks when deciding on investments in the future and increase the value of the company.
The Effect of Profitability on Firm Value with Intellectual Capital as an Intervening Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange Elly Lestari; Moeljadi Moeljadi; Sumiati Sumiati; Djumahir Djumahir
Journal of International Conference Proceedings (JICP) Vol 5, No 2 (2022): BEFIC Conference Proceeding
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v5i2.1722

Abstract

The “objective of this study is to investigate the effect of profitability on firm value with intellectual capital as an intervening variable in manufacturing companies listed on the Indonesia Stock Exchange. The population are manufacturing companies that have published Corporate Governance Reports until 2018. However, some companies do not publish regularly during the observation period from 2012 to 2018. This study uses population requirements, companies do not issue Corporate Governance Reports for a maximum of 1 year. In order to obtain a population of 14 companies, all of which were used as research samples (saturated samples) with 98 observations. The analysis method used path analysis. The results demonstrated that profitability has a direct effect on firm value and profitability has an indirect effect on firm value. Intellectual capital acts as a mediating variable in this relationship. The increase in intellectual capital has an impact on increasing the value of the company. In addition, profitability can improve company performance and corporate image internally and externally, thereby increasing investor confidence, and companies have the opportunity to increase intellectual capital. The increase in intellectual capital has an impact on increasing the value of the” company. Keywords: Profitability, Intellectual Capital, Firm Value
Pelatihan Strategi Bisnis Berkelanjutan di Era Pandemi Covid-19 bagi Start-Up Business Sumiati Sumiati; Margono Setiawan; Muhammad Fajrul Islam F
Jurnal KARINOV Vol 5, No 3 (2022): September
Publisher : Institute for Research and Community Service (LP2M), Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17977/um045v5i3p%p

Abstract

Pandemi Covid-19 membawa dampak besar bagi bisnis dan industri dalam dua tahun. Hal ini berdampak pada semua sektor industri tidak peduli kapitalisasi kecil atau besar. Bahkan, tidak sedikit supermarket besar menutup bisnis mereka dan melakukan pemutusan hubungan kerja terhadap karyawan. Industri menghadapi kondisi yang sama seperti 1) kurangnya pengetahuan tentang bagaimana menggunakan strategi pemasaran yang efektif untuk berhubungan dengan konsumen di tengah persaingan yang ketat dan kondisi ekonomi yang merosot, 2) Dampak dari pandemi menyebabkan banyak pegawai yang dirumahkan dan beralih menjadi penjual dadakan sehingga hal ini meningkatkan persaingan usaha 3) Adanya persaingan yang ketat menuntut untuk melakukan inovasi. Berdasarkan permasalahan yang dialami, alternatif solusi permasalahan tersebut adalah dengan mengadakan pelatihan berkelanjutan terkait strategi bisnis dalam bisnis start-up bagi mahasiswa Fakultas Ekonomi dan Bisnis Universitas Brawijaya. Pelatihan ini untuk mempersiapkan mahasiswa agar mampu bertahan di dunia bisnis yang tidak menentu terlebih pada kondisi pandemi Covid-19. Dari hasil pelatihan yang diberikan, para peserta kegiatan memiliki wawasan dan pandangan baru untuk terus berinovasi dalam memaksimalkan pemasaran digital dan fokus pada segmenting, targeting, dan positioning bisnis. Kata kunci— Strategi Bisnis Berkelanjutan, Start-up, Wirausaha Muda, pandemic Covid-19 Abstract Pandemic Covid-19 brings a significant impact on business and industry for two years. It impacts all of the industry sectors, both small and large capitalization. Surprisingly, the huge supermarket closed its business and cut off the employee. The industry faces the same condition, such as 1) a lack of knowledge about how to use effective marketing strategy to engage with the consumer amid intense competition and slumping economic condition, 2) a pandemic brings impact an employee become a seller that makes new competition 3) The existence of intense competition requires innovation. Based on the problems experienced, the alternative solution to the problem is to carry out ongoing training related to business strategies in start-up businesses for students of the Faculty of Economics and Business, Universitas Brawijaya. This training prepares students to survive in the uncertain business world first in the conditions of the Covid-19 pandemic. From the training results provided, the activity participants have new insights and views to continue to innovate in maximizing digital marketing and focus on segmenting, targeting, and positioning business. Keywords— Sustainable Business Strategy, Start-ups, Young Entrepreneurs, Covid-19 pandemic
The Role of Relational Capital in the Relationship between Human Capital and Financial Performance Sumiati Sumiati; Risna Wijayanti; Hanifa Bennu Nur
Journal of International Conference Proceedings Vol 5, No 4 (2022): FEBIC International Conference Proceeding
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v5i4.1941

Abstract

The presence of increasingly fierce competition in the industrial era 4.0 necessitates companies having high and rapid innovation capabilities that can maintain and spur competitiveness. Human capital has been identified as a source of competitive advantage as well as a critical success factor in improving firm performance (Wright and McMahan, 1992; Hall, 1993; Pfeffer, 1994). However, human capital consists not only of the ability to share, combine, and transfer knowledge, but also of the ability to network with various related parties in order to form cross-functional teams. The goal of this research is to discover the relationship between human capital and firm financial performance as mediated by relational capital. The sample for this study consists of 80 manufacturing companies listed on the Indonesia Stock Exchange. Multiple regression analysis was used in this study as an analytical technique. Human capital has no effect on financial performance, and relational capital does not significantly mediate the relationship between human capital and financial performance, according to the findings. The insignificant effect of relational capital could be explained by the availability of information about the company's environment that has not been used optimally to build relational capital in order to improve company performance