International Journal of Application on Economics and Business
Graduate Program of Universitas Tarumanagara
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge. IJAEB by Graduate Program of Universitas Tarumanagara is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.. Permissions beyond the scope of this license may be available at https://journal.untar.ac.id/index.php/ijaeb
THE ROLE OF ENTREPRENEURIAL ORIENTATION ON THE PERFORMANCE OF FOOD AND BEVERAGE SMEs
Through an empirical analysis, this study aims to determine how innovation (IN), proactiveness (PR) and risk-taking (RT) affect the Small and Medium Enterprises performance (SMEs Perf) venture in West Jakarta's food and beverage sector. Based on the theory of Resource Based Vied (RBV) philosophy, this study examines how organizational resources and capabilities relate to performance results. That 66 SMEs owners were surveyed online using Google Forms, and the data is gathered by using a non-probability technique, and using purposive sampling approach. SmartPLS version 4.1.0.5 software and structural equation modeling (SEM) were used for data analysis. IN has a major influence on SMEs Perf, according to the findings, whereas PR and RT have favorable but statistically minor effects on the SMEs Perf of food and beverage in West Jakarta.
Copyright (c) 2025 International Journal of Application on Economics and Business https://creativecommons.org/licenses/by-nc-sa/4.0
THE EFFECT OF SELF-CONTROL, FINANCIAL LITERACY, AND RISK TOLERANCE TOWARD INVESTMENT DECISIONS AMONG STUDENTS
This study investigates the influence of self-control, financial literacy, and risk tolerance on the investment decisions of university students in Jakarta, Indonesia. The research uses a quantitative methodology to collect primary data through a Google Forms-based questionnaire. The sample comprises 120 students with prior experience in financial investments, such as stocks or mutual funds. Data analysis was conducted using Partial Least Squares - Structural Equation Modeling (PLS-SEM) to evaluate the relationships among the variables. The findings reveal that self-control, financial literacy, and risk tolerance all significantly and positively affect investment decisions. Specifically, self-control fosters disciplined, long-term financial planning, while financial literacy enhances students' ability to assess investment opportunities and make informed choices. Moreover, risk tolerance emerges as a critical factor, with students exhibiting higher risk tolerance being more inclined to engage in investments. The study underscores the role of psychological factors and financial education in shaping students' financial behaviors. It recommends that universities and financial institutions emphasize the development of self-control and financial literacy through targeted educational programs and customized financial products. Additionally, the study calls for future research in diverse geographical and sectoral contexts to enhance the generalizability of the findings.
EXPLORING HOW GENDER MODERATES THE EFFECT OF PERSONALITY TRAITS ON OVERCONFIDENCE BIAS AMONG INVESTORS IN THE INDONESIAN STOCK MARKET
This research aims to explore the impact of investor personality traits towards overconfidence bias in investment behaviors. Additionally, it examines whether gender differences serve as a moderating factor. The study focuses on three main variables: personality traits, gender, and overconfidence bias. Data for the study is gathered through a primary data collection method using an online questionnaire, distributed via Google Forms. This questionnaire incorporates relevant indicators that effectively represent the variables under investigation and is disseminated across social media platforms, including WhatsApp, Facebook, Instagram, Twitter, and Telegram, to broaden respondent reach. The sample consists of individual stock investors in Indonesia, selected through non-probability sampling. For statistical analysis, Structural Equation Modeling is employed using the SmartPLS software, applying the Partial Least Squares (PLS-SEM) approach based on variance. The evaluation includes an Outer Model Assessment (validity and reliability testing) and an Inner Model Assessment, which involves R-square, Q-square, and Goodness of Fit tests, alongside hypothesis testing. According to this study, neuroticism and conscientiousness positively contribute to overconfidence bias in both genders, while openness has a negative effect on this bias among male and female investors alike. The findings of this study imply that understanding investors' personality traits, such as neuroticism, conscientiousness, extraversion, and openness, is essential for tailoring investment strategies and mitigating overconfidence bias. Financial education focusing on self-awareness and emotional management is crucial to helping investors make more rational decisions and avoid unnecessary risks.
THE EFFECT OF PROFITABILITY, LIQUIDITY, COMPANY SIZE, AND SALES GROWTH ON CAPITAL STRUCTURE IN CONSUMER NON-CYCLICALS COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE 2021-2023 PERIOD
The optimal capital structure configuration becomes a crucial determinant in ensuring the survival and long-term growth of a business entity. The study endeavors to furnish empirical substantiation concering the effect of profitability, liquidity, company size, and sales growth on capital structure. The research employs a quantitative approach with a purposive sampling technique, using sample of 34 companies listed on the Indonesia Stock Exchange during the periods of 2021, 2022, and 2023. Data were processed using E-Views version 12 to test the hypotheses. The findings of this study suggest that profitability does not negatively influence the capital structure. Company size and sales growth do not positively influence the capital structure, while liquidity has a negatively influence the capital structure. The implications of this research for companies indicate that they must carefully consider the factors identified in this research when formulating an optimal capital structure, in order to support sustainable growth and effectively manage financial risks. For investors, the findings provide valuable insights into analyzing a company’s capital structure as a foundation for more informed investment decision-making. Furthermore, future research could broaden its scope by exploring other external factors that may influence capital structure decisions.
SOCIAL MEDIA MARKETING AND CELEBRITY ENDORSEMENT IMPACT ON PURCHASE INTENTION MEDIATED BY BRAND AWARENESS
The significant expansion of the cosmetics industry has led to heightened competition, compelling businesses to identify key factors that drive consumers' purchase intentions. This study concentrates on examining the elements influencing the purchase intention for Implora cosmetics. A descriptive research approach was applied, using purposive sampling to obtain responses from 275 participants through questionnaires. The data were examined using PLS-SEM to investigate the connections between these four variables. The results indicated that social media marketing, celebrity endorsements, and brand awareness are able to affect consumers' intention to buy Implora products. Additionally, it was found that brand awareness can acts as a mediator between social media marketing and the intention to purchase, as well as between celebrity endorsement and the intention to purchase Implora products. the influence of social media marketing and celebrity endorsements on the intention to purchase. These results underscore the crucial function of these three factors in improving purchase intentions, suggesting that focusing on social media marketing, celebrity endorsements, and brand awareness can help strengthen competitiveness in the market.
FINANCIAL DISTRESS, AUDIT COMMITTEE, INDEPENDENT COMMISSIONER, AND AUDIT QUALITY'S IMPACT ON BANKING TAX AVOIDANCE
Since both tax avoidance and tax planning use legal means to lower or eliminate tax obligations, tax avoidance is defined as a tax reduction activity. It can range from profitable tax investments (like tax-exempt communal bonds) to aggressive strategies that might not be defended if challenged. In reality, tax evasion is a complicated issue as, while it does not violate any laws, the government opposes tax collectors having the authority to control taxes. As a result, studies on tax evasion across a range of corporate industries and nations yield varying conclusions. The aim of this study is to provide empirical evidence regarding the effects of Independent Commissioners, Audit Committees, and Audit Quality on tax avoidance actions taken by public bank managers. The research methodology is quantitative description utilizing annual report data, and the research sample is the banking industry during the period 2019–2022. The Eviews 12 software program is utilized to support this research. The study's findings demonstrate that financial distress, audit quality, and independent commissioners can all reduce the amount of tax avoidance behavior carried out by banking management. However, the number of audit committees owned by banks cannot both increase or decrease the tax avoidance behavior of banking management. With the goal of lowering potential tax avoidance behavior by management, the contribution to this study gives stakeholders—including shareholders and the government (Directorate General of Taxes)—insight into the significance of the board of commissioners' and audit committee's roles, audit quality, and the financial difficulties that banks face.
DETERMINANTS OF CAPITAL STRUCTURE: EVIDENCE FROM FOOD AND BEVERAGE COMPANIES IN INDONESIA
Capital structure holds a significant role in determining the companies’ financial stability. Managing the combination of debt and equity as funding sources is a strategic decision that management must make in ensuring that the company's financing is used efficiently, supporting operational growth and maintaining financial stability. This study aims to determine the effect of profitability, liquidity, asset structure, and firm size on the capital structure of a company. Observations in this study consisted of 108 data derived from 36 food and beverage subsector companies listed on the Indonesia Stock Exchange (IDX) during 2021-2023. The sample selection technique applied was purposive sampling. Data processing in this study was carried out using EViews 13 software. The hypothesis testing method applied in the study was the multiple linear regression model. Estimation of multiple linear regression models suitable was the Fixed Effect Model (FEM). Capital structure in this study was measured by the Debt on Equity (DER) parameter. The data, after processed, indicated that profitability and liquidity negatively and significantly affect the capital structure, company size positively and significantly affect the capital structure, wile asset structure had no impact on the capital structure. The findings of this study provide insights into how internal factors can affect the decisions of capital structure and the financial stability of the firm. Management can use this result to optimize financing policy, while investors can use this as a guide in assessing the company's capital policy.
THE INFLUENCE OF SALES GROWTH, LEVERAGE, COMPANY SIZE, AND PROFITABILITY ON TAX AVOIDANCE IN CONSUMER NON-CYCLICALS COMPANIES FROM 2021 TO 2023
The purpose of this study is to gather empirical data regarding the effects of sales growth, leverage, company size, and profitability on tax avoidance. Focusing on consumer non-cyclicals companies that listed on the Indonesia Stock Exchange (IDX), the study used a purposive sampling method to select a data set of 124 samples from 52 companies covering the period 2021 to 2023. To analyze the data, SPSS version 25 was employed, and multiple linear regression analysis was applied to examine the relationships among these variables. The findings indicate that sales growth has a positive effect on tax avoidance. Conversely, profitability shows indicates a detrimental effect on tax avoidance. Meanwhile, leverage and company size were found to have no significant effect on tax avoidance within the sample. This study aims to contribute to the literature on tax avoidance by clarifying the role of specific financial factors in influencing tax strategies among consumer non-cyclicals companies in Indonesia. The expectation is to minimize tax avoidance actions that could result in significant losses to the state. The insights provided can serve as valuable references for managers and policymakers, helping them to understand the financial characteristics that drive tax avoidance behavior. Additionally, this research encourages further exploration into other factors that may influence tax avoidance, ultimately supporting a more comprehensive understanding of corporate tax practices.
COMPARATIVE ANALYSIS OF FINANCIAL PERFORMANCE OF PHARMACEUTICAL COMPANIES DURING AND AFTER THE COVID-19 PANDEMIC
The goal of this study is to evaluate the financial performance differences of pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during the COVID-19 pandemic (2020-2021) and after the pandemic (2022-2023). The research focuses on five main financial performance indicators: profitability, leverage, liquidity, efficiency, and company growth. Profitability is measured using Return on Assets (ROA) and Net Profit Margin (NPM), leverage through Debt to Equity Ratio (DER), liquidity through Current Ratio (CR), efficiency using Total Asset Turnover (TATO), and company growth through Sales Growth. The sample consists of 11 pharmaceutical companies listed on the IDX. Financial performance data before and after the pandemic will be analyzed using the paired sample t-test method to assess whether there is a significant difference between the two periods. This study aims to provide insights into the long-term effects of the COVID-19 pandemic on the financial performance of pharmaceutical companies in adapting to changes post-pandemic. The findings show no significant difference in ROA, NPM, CR, TATO, and Sales Growth between the pandemic period (2020-2021) and the post-pandemic period (2022-2023), though there is a difference in DER performance between the two periods.
IMPACT OF ORGANIZATIONAL LEARNING ON JOB SATISFACTION, COMMITMENT, AND PERFORMANCE OF PRIVATE BANK EMPLOYEES
Employee performance serves as a vital measure in projecting future success within organizations. Key factors that influence this performance include organizational learning, job satisfaction, and employee commitment. This research investigates how organizational learning affects job satisfaction, organizational commitment, and employee performance, alongside the impact of job satisfaction and organizational commitment on performance outcomes. A quantitative method was applied through non-probability sampling, specifically convenience sampling. Primary data were obtained via an online survey involving 105 private bank employees in Tangerang, and analyzed using SmartPLS 4. The findings reveal that all proposed variables significantly and positively influence employee performance. Moreover, both job satisfaction and organizational commitment are proven to partially mediate the relationship between organizational learning and employee performance.
THE INFLUENCE OF ENTREPRENEURIAL ORIENTATION, WORK-LIFE BALANCE, AND CAREER CHOICE ON THE ENTREPRENEURIAL INTENTION OF GENERATION Y
Entrepreneurial intentions in Generation Y are influenced by various factors that reflect their preferences and life orientation. Entrepreneurial orientation will form a proactive mindset and dare to take risks. Work-life balance is also an important consideration for Generation Y who crave flexibility and balance between their personal and work lives. Meanwhile, career choice determines the direction of an individual's decision in choosing the career that best suits their aspirations, including the tendency to become an entrepreneur. Therefore, these three factors are seen as interrelated in influencing the entrepreneurial intention of Generation Y. The purpose of this research is to enrich the literature related to the variables of entrepreneurial orientation, work life balance, and career choice on the entrepreneurial intention of Generation Y. The sample amounted to 100 employee respondents in the age range of generation Y.
SOCIAL IDENTITY AS A MODERATOR OF THE INFLUENCE OF ENTREPRENEURIAL SELF-EFFICACY ON ENTREPRENEURIAL INTENTION
Numerous countries have made significant investments in entrepreneurship education and training to foster entrepreneurial activities. This investment is a pivotal element in the efforts of higher education institutions in Indonesia to prepare graduates to become entrepreneurs. The overarching intent of this inquiry is to empirically analyze The ramifications of entrepreneurial self-efficacy (ESE) on entrepreneurial intention (EI) and to evaluate the moderating role of social identity (SI) in this relationship. The study employs a quantitative approach, with the population consisting of students from Tarumanagara University. A purposive sampling method was used, focusing on students majoring in entrepreneurship who enrolled between 2018 and 2022. The research relies on primary data collected directly from participants. The data analysis was executed utilizing Partial Least Squares-Structural Equation Modeling (PLS-SEM). The outcomes demonstrate that ESE exerts a constructive effect on EI, whereas SI does not present a statistically significant moderating role in the relationship between ESE and EI.
THE EQUITY FACTORS THAT INFLUENCE BEHAVIORAL LOYALTY OF GRABFOOD APPLICATION USERS: STUDY OF GEN Z CONSUMERS IN DKI JAKARTA
This study examines the impact of equity factors on behavioral loyalty through attitudinal loyalty among Gen Z consumers of the GrabFood application in DKI Jakarta. Quantitative method was applied in this study through a google form questionnaire with Likert scale. Data was collected from 145 Gen Z consumers who used the GrabFood application at least once in the last 2 months. This study employs a purposive sample strategy in conjunction with the aid of SmartPLS 4.0 software. According to the findings of the Structural Equation Modeling (SEM), attitudinal loyalty is significantly positively impacted by the third component of customer-perceived equity. Moreover, connection equity significantly improves behavioral loyalty, although brand equity and value equity have little influence on the same. Behavioral loyalty is significantly positively impacted by the attitudinal loyalty component as well. The association between brand equity and value equity and behavioral loyalty can be mediated by attitudinal loyalty characteristics, according to mediation tests. However, the relationship between behavioral loyalty and relationship equity cannot be mediated by attitudinal loyalty. The study reveals that it is important for business owners to add value to their brands and build positive relationships with brand customers, as attitudinal loyalty to a brand is determined by value equity, brand equity, and relationship equity. On the other hand, customer behavioral loyalty is often determined by the attitudinal loyalty of the customers which further explains why businesses should increase a positive attitude towards the brand.
DETERMINANTS OF BRAND LOYALTY AT XYZ COFFEE SHOP: A STUDY OF GEN Z IN JAKARTA
This study’s purposes is to analyze the influence of brand experience, brand uniqueness, and perceived quality on brand loyalty of XYZ coffee outlet in Jakarta. The methodology used in this study is descriptive research design with a quantitative process. The sample selection technique used is a non-probability purposive sampling technique. A total of 125 respondents participated in the research through a google form questionnaire. This study utilizes the SmartPLS 4 software to analyse data, in which uses SEM analysis. The results of this study indicated that all of the factors positively and significantly influence brand loyalty. Those factors mentioned are brand experience, brand uniqueness, and perceived quality. This research plays a vital contribution to coffee vendors to further observe their brand uniqueness as a meaningful differentiation value for the customers when contrasted to other brand opposition. The product sold, in this case, must also perceive a great quality in terms of physical excellence and service in which will provide a unique experience for the customers and therefore create a loyalty to the coffee brand.
INTERNAL AND EXTERNAL FACTORS AFFECTING AUDITOR’S ABILITY IN DETECTING FRAUDULANCE FROM THE ACCOUNTING STUDENT’S PERSPECTIVE
In assessing financial information, auditors are required to be able to identify fraud to support the creation of transparency and accountability. Many recent financial statement fraud cases have demonstrated the auditor's failure to spot fraud. From many cases occurred and studies that have not yet provided a definite answer regarding the factors influencing an auditor's ability to detect fraud, this research paper was formed to examine the impact of professional scepticism, auditor competence, and red flags towards the auditor's ability to detect fraud as the dependent variable from the viewpoint of accounting students currently enrolled in college or have studied auditing through questionnaire. The sampling method conducted in this research is the non-parametric sampling method, specifically simple random sampling, which would then be processed using SPSS for descriptive statistics and PLS for model testing. The 197 questionnaires obtained and processed showed that each indicator was able to describe the variables used, the PLS model was able to provide pretty good predictions of the model, and each independent variable was able to provide a significant positive influence on its dependent variable. Therefore, in fraud detection, an auditor must always question the most minor thing in his findings, improve his ability to analyze the possibility of fraud occurring, and catch warning signs that often appear minor.
FINANCIAL DISTRESS AND SUSTAINABILITY REPORT: PERSPECTIVE FROM FOOD AND BEVERAGE INDUSTRY
Stock return serves as a key indicator for investors in assessing the profit potential on their investment. Various factors influence stock return fluctuations, such as financial distress and sustainability reports. This research aims to examine the importance of considering these factors in investment decision-making, with a specific focus on food and beverage companies listed on Indonesia Stock Exchange. Financial distress is measured using Altman Z-Score, while sustainability reports are assessed through Sustainability Reporting Disclosure Index (SRDI). Using a purposive sampling method, this research analyzed 115 data samples from 41 companies over the period of 2021-2023. The research relies on secondary data, including financial statements, sustainability reports, and historical data of stock prices and dividends from each company. Thereafter, the data is processed and evaluated using Microsoft Excel and EViews 12. The findings confirm that financial distress has no significant effect on stock returns, while sustainability reports exert a significant negative impact. These findings provide valuable insights for companies’ stakeholders, as well as academics, to increase their awareness in financial distress and sustainability reports on stock returns performance. This research also offers valuable implications, particularly in enhancing the understanding of how financial distress and sustainability reports affect stock performance in the food and beverage industry.
KEY DRIVERS OF FIRM VALUE IN INDONESIA’S PROPERTY AND REAL ESTATE SECTOR
Maximizing firm values, as shown in the company’s stock prices, represents a long-term goal for companies. The firm value is impacted by various factors such as financial performance, tax avoidance, investment decisions, and funding decisions. The study explores the connection between financial performance, tax avoidance, investment decisions, and funding decisions on firm value in property and real estate companies listed on the IDX from 2019 to 2023. Financial performance is assessed using Return on Assets (ROA), tax avoidance by Cash Effective Tax Ratio (CETR), investment decisions through the Price-to-Earnings Ratio (PER), and funding decisions through the Debt-to-Equity Ratio (DER). The study analyzed 50 data from 13 companies using a purposive sampling technique. The research utilized secondary data from financial statements and annual reports published on the IDX, analyzed through multiple linear regression. The findings show that financial performance has a positive and significant impact on firm value. Investment decisions also have a positive and significant impact on firm value. However, tax avoidance does not have a significant impact on firm value, and funding decisions likewise do not have a significant impact. The results suggest that in order to increase firm value, property and real estate firms should focus on improving their financial performance and making optimal investment decisions.
THE FACTORS EFFECTING FIRM VALUE EVIDENCE FROM INDONESIA
This study aims to measure the simultaneous and partial impact of Earnings Quality, Tangible Assets, and Leverage on Firm Value in real estate and property companies based on the Indonesia Stock Exchange (IDX) 2021-2023 as a limitation field. This study uses a data processing method with the EViews version 12 application. This study employs secondary data, with a sample of 26 companies selected using the purposive sampling method. The results show that Earnings Quality has an insignificant impact on Firm Value, Meanwhile, Tangible Assets and Leverage have a positive but insignificant impact on Firm Value. So, it can be concluded that tangible asset and leverage are accepted and earnings quality is rejected.
THE APPLICATION OF ENTREPRENEURIAL MOTIVATION AND SOCIAL MEDIA USE ON ENTREPRENEURIAL INTEREST AMONG GENERATION Z IN WEST JAKARTA
This research aims to examine the influence of entrepreneurial motivation and social media usage on entrepreneurial interest among Generation Z students at Tarumanagara University. The population of this research consists of Generation Z students enrolled at Tarumanagara University. A total of 100 students were selected as the sample using purposive sampling. Data were collected through a questionnaire distributed online via Google Forms. The data analysis technique employed the SmartPLS version 4 method. The results of the study indicate that entrepreneurial motivation and social media have a positive and significant effect on entrepreneurial interest among Generation Z students at Tarumanagara University.
THE EFFECT OF INTERNAL CONTROL AND INTERNAL AUDIT ON FRAUD PREVENTION IN PROCUREMENT OF GOODS/SERVICES IN THE GOVERNMENT OF ROKAN HULU DISTRICT
Fraud in procurement of goods and services in government institutions is a wrong action and harms state finances and disrupts good procurement principles. This fraud can occur in various phases, starting from the planning, implementation, to supervision stages, and the results actually cause state losses and have a negative impact on society. The purpose of this study is to analyze the impact of internal control and internal audit with inspection to prevent fraud in government procurement of goods and services. This study uses primary data with all respondents of the regional workforce (SKPD). This involves the procurement of goods and services in the government regulated by the Rokan Hulu region. The sample selection technique in this study uses the technique targeted purposive sampling, and SPSS statistical tool for data analysis. The results of this study indicate that internal control and internal audit in fraud prevention affect the procurement of goods and services. The impact of this study is expected to be the basis for improving the internal control system and reducing the risk of irregularities in the procurement of goods and services by conducting internal audits.
CORPORATE SIZE IN MODERATE THE INFLUENCE OF CURRENT RATIO AND DEBT TO EQUITY RATIO ON INCOME SMOOTHING
Net profit information is very important for the sustainability of the corporate's operational activities and investor confidence in investing their funds, so that corporate management practices income smoothing or income smoothing by manipulating the corporate's financial statements. Several previous studies, there are gaps in experiment outcomes from one experimenter to another, so this study tries to re-examine the gaps or gaps found in several studies. This study is a replication study to re-examine several factors that influence income smoothing by using Corporate size as a moderating instrument variable. The addition of this moderation instrument variable aims to increase the depth of analysis and provide a more nuanced understanding of the relationship between the dependent instrument variable and the independent instrument variable. Moderating instrument variables can strengthen the relationship between the two instrument variables. The purpose of this study is to determine the effect of the current ratio and debt to equity ratio on income smoothing with corporate size as a moderating instrument variable in manufacturing corporates listed on the Indonesia Stock Exchange for the period 2020-2022. This study uses a purpose sampling technique with data for three years obtained from the website www.idx.co.id. Data processing in this study used SPSS version 27 and Microsoft Excel 2016 applications. The analysis in this study used logistic regression analysis for the current ratio and debt to equity ratio hypotheses and absolute difference analysis for the current ratio and debt to equity ratio on income smoothing with corporate size as a moderating instrument variable. The outcomes of this study indicate that the current ratio and debt to equity ratio do not affect income smoothing. Corporate size as a moderating instrument variable cannot moderate the current ratio and debt to equity ratio instrument variables on income smoothing.
CORPORATE SIZE IN MODERATE THE INFLUENCE OF CURRENT PERCENTAGE AND DER PERCENTAGE ON INCOME SMOOTHING
Net profit information is very important for the sustainability of the corporate's opepercentagenal activities and investor confidence in investing their funds, so that corporate management practices income smoothing or income smoothing by manipulating the corporate's financial statements. Several previous studies, there are gaps in experiment outcomes from one experimenter to another, so this study tries to re-examine the gaps or gaps found in several studies. This study is a replication study to re-examine several factors that influence income smoothing by using Corporate size as a moderating instrument variable. The addition of this modepercentagen instrument variable aims to increase the depth of analysis and provide a more nuanced understanding of the relationship between the dependent instrument variable and the independent instrument variable. Moderating instrument variables can strengthen the relationship between the two instrument variables. The purpose of this study is to determine the effect of the current percentage and DER percentage on income smoothing with corporate size as a moderating instrument variable in industry corporates listed on the Indonesia Stock Exchange for the period 2020-2022. This study uses a purpose sampling technique with data for three years obtained from the website www.idx.co.id. Data processing in this study used SPSS version 27 and Microsoft Excel 2016 applications. The analysis in this study used logistic regression analysis for the current percentage and DER percentage hypotheses and absolute difference analysis for the current percentage and DER percentage on income smoothing with corporate size as a moderating instrument variable. The outcomes of this study indicate that the current percentage and DERpercentage do not affect income smoothing. Corporate size as a moderating instrument variable cannot moderate the current percentage and DER percentage instrument variables on income smoothing.
THE INFLUENCE OF BANKING HEALTH LEVELS BY USING RGEC METHOD ON BANKING FINANCIAL PERFORMANCE
Financial performance being a sentimental sense of company’s financial to facilitate bank management and investment decisions for mitigate risk and strengthen profitability. This study aim to analyze and to examine the impact of RGEC method on the profit growth of companies listed on IDX in five periods, 2019-2023. Determination of the sample by using the method of purposive sampling. The type of research used is quantitative using secondary data that acquired from company’s annual reports from 2019 to 2023 periode with a total sample selected about 42 banking companies. The tool used is multiple linear regression assisted by eviews13. Results obtained in the research indicate that RGEC significantly impacted companies profit growth in 2019-2023 period. Risk profile proxied with non performing loan and good corporate governance proxied with board of independent commissioners has negative impact on profit growth. On the other side, capital proxied by capital adequacy ratio positively impact on companies profit growth. Whereas earnings proxied by net interest margin does not affect banking profit growth listed on IDX during 2019 and 2023.
THE INFLUENCE OF PERCEIVED EASE OF USE AND PERCEIVED USEFULNESS ON FINTECH USER LOYALTY MODERATED BY TRUST
The rapid growth of financial technology (fintech) in Indonesia has changed the landscape of financial services, particularly among younger generations, with 78% of Millennials and Gen Z using fintech applications daily. However, retaining customer loyalty remains a challenge due to growing competition and concerns about security, privacy, and reliability. This study looks at how perceived ease of use, perceived usefulness, and trust affect Fintech user loyalty in Indonesia. This study examines the influence of perceived ease of use, perceived usefulness, and trust on Fintech user loyalty in Indonesia. A quantitative research method was used, using a structured questionnaire that was distributed online to 121 active Fintech payment services users. SmartPLS 4.0 software was used for Partial Least Squares-Structural Equation Modeling (PLS-SEM) to analyze data. The results show that while perceived usefulness greatly increases loyalty, perceived ease of use has a positive but insignificant effect on Fintech user loyalty. As expected, trust has no moderating effect on the association between these parameters and user loyalty, indicating that loyalty is shaped independently by them. These results highlight the importance of perceived usefulness in fostering Fintech user loyalty and emphasize the need for providers to focus on delivering tangible benefits to enhance user retention. Future studies should broaden the demographic focus and investigate other factors affecting user behavior in order to offer more comprehensive insights into Fintech uptake and loyalty.
FACTORS INFLUENCING PURCHASE INTENTION OF FRENCH FRIES 2000
PT. Siantar Top, Tbk., the company of nationwide product, French Fries 2000, is currently navigating significant challenges in its sales performance, with a reported decline of 3.33% compared to the previous year. Specifically, sales have decreased from Rp4.931.554.000,00 to Rp4.767.207.000,00. This downturn is primarily attributed to a reduction in consumer purchase intention, which appears to be influenced by several critical factors. Among these are product quality, which can affects consumer trust in a brand or company; product availability, which can limit purchasing opportunities on the product; and product safety, as consumers increasingly prioritize health and safety in their purchasing behavior due to the new normal established by Corona viruses. The objective of this study was to examine the influence of product quality, availability of product, and safety of product on intention to purchase French Fries 2000 products. The population in this study consists of 100 consumers who are aware of, have personally purchased, and have consumed French Fries 2000 products in the Jabodetabek area. The convenience sampling method was used by distributing questionnaires both directly and online through Google Forms media which were then analyzed using PLS-SEM. The findings of this study indicate that product quality can affect purchase intention in French Fries 2000 products, product availability can affect purchase intention in French Fries 2000 products and product safety can affect purchase intention in French Fries 2000 products.
UNVEILING THE ROLE IN SHAPING SUSTAINABILITY REPORTING IN THE MINING SECTOR
The social and environmental responsibilities of companies have drawn public attention to their economic, social, and environmental performance. This has an impact on collective survival due to the effects caused by the company's operational activities. Therefore, companies are increasingly focusing on their surrounding environment by implementing CSR, which is reported through Sustainability Reporting Disclosure. This reporting is also influenced by corporate governance principles and the performance achieved. This research was conducted to provide empirical evidence on the influence of governance and corporate performance on sustainability reporting disclosure. The companies selected for the study are those in the mining industry that published sustainability reporting disclosures during the research period from 2019 to 2023. The research sample was chosen using purposive sampling, with a total of 19 companies out of 42 companies. The analysis that is used to test the research hypothesis is linear regression analysis. The results of the study show that the board of directors has a positive and significant influence on Sustainability Reporting Disclosure, while the audit committee, profitability, and leverage have no influence on Sustainability Reporting Disclosure. This research provides information to stakeholders regarding factors that can improve the information in corporate sustainability reports. From these findings, it can be seen that governance and corporate governance do not have a significant impact on sustainability reporting disclosure, suggesting that companies should focus not only on these factors but also consider other factors.
ANALYSIS OF CAPITAL BUFFER, BOARD GENDER DIVERSITY, OWNERSHIP CONCENTRATION, AND INDEPENDENT COMMISSIONERS ON BANK STABILITY
The objective of the research is to examine the impact of capital buffer, board gender diversity, ownership concentration, and independent commissioners on the stability of Indonesian banks. Data was obtained from the Financial Services Authority's (OJK) website, with a particular emphasis on commercial banks from 2019 to 2023. The study encompasses 14 listed commercial banks that are classified as KBMI 3 and KBMI 4, except for Sharia Banks. Z-Score is the dependent variable used to measure bank stability, and the independent variables are capital buffer, ownership concentration, gender diversity on the board, and independent commissioners. The results suggest that the capital buffer has a substantial positive effect on the stability of Indonesian banks. A sufficient capital buffer can echance the confidence of clients and investors in the bank's stability, potentially improving its market value and financial performance. Results show that ownership concentration demonstrates negative and insignificant effects on bank stability. Conversely, board gender diversity and independent commissioners shows a positive and insignificant correlation with bank stability. The study recommends strengthening the role of independent commissioners and advancing gender diversity. Regulators are advised to enforce governance standards and oversee ownership structures. Additionally, the findings support stricter capital requirements to enhance banking sector stability.
THE FACTORS EFFECTING FIRM PERFORMANCE EVIDENCE FROM INDONESIA
This study aims to validate and quantify the simultaneous and partial effects of Intellectual Capital, Firm Size Liquidity, on Financial Performance in real estate and property companies, based on the Indonesia Stock Exchange (IDX) 2021-2023 as a limitation field. This study uses a data processing method with the EViews version 12 application. This research determined 120 observational data that were taken using purposive sampling method with a total of 40 companies. The data used in this research is secondary data, collected through a literature review. The results show that Intellectual capital and Liquidity has a negligible impact on the Financial Performance, while firm size has a positive and substantial impact on the Financial Performance. Therefore, it can be inferred that Firm Size are accepted and Intellectual Capital and Liquidity is rejected.
USING OF THEORY OF ACCEPTANCE AND USE OF TECHNOLOGY IN THE ACCEPTANCE OF MOBILE BANKING APPS
Current technological developments are also felt in personal financial activities. Personal financial activities will be related to banking business services. One of the impacts of implementing technology for personal financial activities is the Mobile Banking Application (Apps -M Banking). The research to analyzes the acceptance of Apps. M-Banking by customers. The analysis uses the Unified Theory of Acceptance and Use of Technology approach. This study is descriptive quantitative using primary data. Data collection using digital questionnaires with convenience and snowball methods. The data collected were 75 respondents. The analysis used Structural Equation Modeling with Performance Expectancy, Efficient Expectancy, Social Influence and Facility Condition as independent variables. The results of this study indicate the Performance Expectancy, Social Environment do not affect the Use Behavior of bank customers in using Apps. M-Banking through Behavioral Intention. While Effort Expectancy and Facility Condition affect Use Behavior using the Mobile Banking application through Behavioral Intention. The conclusion of this study shows that App. Conventional bank M-Banking has not fully met customer expectations so that the social environment does not affect it even though easy use and support facilities already support it. This study provides input for banks to improve the M-Banking App to further improve customer performance.
EXPLORING THE IMPACT OF LEADERSHIP STYLES ON EMPLOYEE JOB PERFORMANCE - A CASE STUDY OF EMPLOYEES IN VIETNAMESE ENTERPRISES
This study explores the impact of leadership styles on employee job performance in Vietnamese enterprises, focusing on authoritarian, democratic, and laissez-faire leadership styles. Through a questionnaire survey, 298 valid responses were collected and analyzed using SPSS 25.0, including descriptive statistics, reliability analysis, t-tests, ANOVA analysis, correlation analysis, and regression analysis.The findings indicate: (1) Authoritarian leadership has a significant negative impact on employee job performance; (2) Democratic leadership has a significant positive impact on employee job performance; (3) Laissez-faire leadership has a significant positive impact on employee job performance. This study emphasizes the flexible use of leadership styles to improve employee performance and suggests the reasonable application of democratic and laissez-faire leadership to foster responsibility and creativity among employees, ultimately enhancing company competitiveness and long-term growth.
CEO BIAS, MORAL HAZARD AND ADVERSE SELECTION: A LITERATURE REVIEW ON RISK DYNAMICS IN DIGITAL BANKING IN INDONESIA, WITH A PITCHING RESEARCH APPROACH
This paper investigates the impact of CEO bias, specifically overconfidence, on the financial sustainability of digital banks and the relationship between these risks. To organize prospective assessment into CEO decision-making within the digital banking industry, the evaluation employs the pitching research methodology (Faff, 2015 and 2024).This study compares and contrasts an array of existing theories and prior academic findings published between 1970 and 2024, categorized into key components such as CEO bias, moral hazard, adverse selection, and fintech solutions, and how each of these interacts with financial sustainability and governance in digital banking. This study indicates that CEO overconfidence plays a critical role in influencing the risk management practices of digital banks, particularly in the context of moral hazard and adverse selection. While fintech innovations such as big data and machine learning have improved banks' ability to assess borrower risk, they cannot fully mitigate the risks posed by information asymmetry, especially when CEO bias skews decision-making. This paper is expected to fill part of a gap in linking the studies of how CEO bias impacts the financial sustainability of digital banks, exposing moral hazard and adverse selection. It provides a practical approach to examining the moderating influence of CEO bias on moral hazard and adverse selection in Indonesia’s digital banking sector, where fintech tools are heavily relied upon. While previous research has focused on the technical risks of fintech solutions, this paper explores how behavioral biases, particularly overconfidence, impact digital banking sustainability.
THE EFFECT OF CORPORATE GOVERNANCE QUALITY, LEVERAGE AND OWNERSHIP STRUCTURE ON FIRM PERFORMANCE
This research was done to collect empirical evidence concerning the effect of corporate governance quality or CGQ (Board Size & Board Independence), leverage (DER) and also ownership structure (OS) on firm performance (ROA) of financial sector companies listed on IDX or the Indonesia Stock Exchange for the 2021-2023 period. 153 data from 51 financial sector companies are valid sample data in this research. EViews 12 was used to process the data in this research. This research adopts a quantitative descriptive research approach with panel data regression to comprehensively investigate 51 financial sector companies listed on the Indonesia Stock Exchange (IDX) between 2021 and 2023. Applying non-probability purposive sampling, the study combines cross-sector and time-series data to comprehensively examine how various factors influence performance over time. The results showed that board size had a significant effect on firm performance, while board independence did not have a significant effect on firm performance. Leverage was shown to have a significant effect on firm performance. However, ownership structure did not show a significant effect on firm performance. These findings provide insight for company managers in improving the quality of corporate governance and leverage management to support better firm performance in the financial sector.
DETERMINANTS OF BUDGET ABSORPTION MODERATED BY WORK PLAN AND ORGANIZATIONAL COMMITMENT
This research aims to examine the influence of budget planning and procurement of goods and services on budget absorption, with work plans and organizational commitment as moderators in the Directorate General of Intellectual Property (DGIP) of the Ministry of Law and Human Rights, Republic of Indonesia. By analyzing the data on budget absorption gathered between 2019 and 2022, it can be noted that the absorption rate has consistently decreased over these years and has not achieved full utilization, remaining below 100% annually. This trend in government budget absorption is prevalent across Indonesia, with a slow start at the beginning and acceleration toward the end of the fiscal year (Oktaliza Y., 2020). The decrease in DGIP's budget absorption has led to a reduction in the provision of intellectual property services to stakeholders. Therefore, it is necessary to examine several variables that influence budget absorption, including budget planning, procurement of goods and services, and organizational commitment, as identified in previous studies. This research adds the variable of work plans as a moderating factor, which has not been explored before. The study employed a questionnaire method administered to 30 selected respondents, comprising officials and employees of DGIP. The sample consisted of individuals involved directly in the processes of work and budget planning, procurement of goods and services, and budget absorption. The data were analyzed using quantitative methods and processed using Statistical Package for the Social Sciences (SPSS) version 27. The findings of this research indicate that budget planning and procurement of goods and services have a positive and significant impact on budget absorption within the DGIP of the Ministry of Law and Human Rights. Additionally, work plans moderate the influence of budget planning and procurement of goods and services on budget absorption. However, organizational commitment does not moderate the impact of budget planning and procurement of goods and services on budget absorption in the DGIP of the Ministry of Law and Human Rights.
THE EFFECT OF LIQUIDITY, SOLVENCY, ACTIVITY, AND PROFITABILITY ON FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES
Indonesia is a country with various economic and business activities. With the development of economic activities, companies that have similar sectors in Indonesia have emerged, creating competition between these companies. The development of the company itself can be assessed from the corporation’s financial performance, if the corporation has financial performance. Financial performance describes ability of a corporation to produces profits effectively and efficiently over a set period by leveraging its assets. This analysis aimed to examine the effect of liquidity, solvency, activity, and profitability on the financial performance of non-cyclical consumer sector companies listed on the Indonesia Stock Exchange (IDX) over period of 2021 to 2023. For this research, purposive sampling was used, resulting in the selection of 120 companies from the non-cyclical consumer sector registered in IDX. Data processing applied in this research was Eviews 12 software. Hypothesis testing method employed was multiple linear regression. The model estimation applied was the Fixed Effects Model (FEM) to ensure alignment with multiple linear regression in analyzing the data. This research utilizes Return on Assets (ROA) to assess the financial performance of company The results obtained in this research indicate that liquidity have significant positive effect on financial performance. Solvency have significant negative effect on financial performance. Activity do not have a negative dan insignificant effect on financial performance. Profitability have significant positive effect on financial performance.
THE ANALYSIS OF FACTORS AFFECTING SUSTAINABILITY REPORT DISCLOSURE AMONG IDX-LISTED HEALTH COMPANIES FOR THE PERIOD OF 2021-2023
This research seeks to examine how profitability, leverage, corporate governance (measured by the percentage of independent commissioners), and firm size influence the disclosures in sustainability reports. The research used purposive sampling, focusing on 33 healthcare companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023, resulting in 57 data observations for analysis. SPSS Statistics 27 software was employed for data analysis. The results indicate that profitability and leverage do not significantly affect sustainability report disclosures. In contrast, corporate governance, represented by the proportion of independent commissioners, has a significantly negative effect on these disclosures, whereas firm size shows a significantly positive impact.
THE IMPACT OF THE BOARD OF DIRECTORS’ EXPERIENCE, EDUCATION, AND COMPENSATION ON INDONESIAN BANKS’ FINANCIAL PERFORMANCE
The company's governance enables it to be regulated and overseen in order to adhere to the law, stakeholder expectations, and relevant business ethics and standards. For the firm to survive and prosper in the long run, the board of directors, which makes the majority of the decisions, chooses the company's strategic course. As a result, in order to motivate the board of directors to enhance financial performance, it is essential to secure their wellbeing by paying them. In addition to salary, the board of directors' expertise and education in business and finance are probably going to be a factor in enhancing Indonesian banks' financial performance. The aim of this study is to demonstrate empirically the relationship between the financial performance of Indonesian banks and the board of directors' experience, business and financial education, and salary. The research sample consists of banking businesses from 2019 to 2023, and the research methodology is quantitative description utilizing annual report data. The Eviews-12 software tool aids in this study by generating 155 observation data that can be processed. According to the study's findings, the bank's financial performance has been demonstrated to be improved by the board of directors' salary. The business and financial education of the board of directors cannot enhance or detract from the bank's financial performance. The same results have been shown by the board of directors' experience, which can enhance the bank's financial performance.
THE ROLE OF CELEBRITY ATTRACTIVENESS AND CREDIBILITY IN INFLUENCING IMPULSIVE BUYING TENDENCY FOR UNIQLO
The aim of this study is to examine the influence of celebrity attractiveness and celebrity credibility on impulsive buying tendency, as well as to test purchase intention as a mediator between celebrity attractiveness, celebrity credibility, and impulsive buying tendency. The sample used in this study consists of 311 respondents who have purchased Uniqlo products. Data were collected through an online questionnaire distributed via Google Forms using a non-probability sampling technique. The collected data were then processed using PLS-SEM with the assistance of SmartPLS 3 software. The results of this study indicate that: Here’s a more fluent paraphrase of your statement:(a) The attractiveness of a celebrity positively influences impulsive buying tendencies. (b) The attractiveness of a celebrity positively impacts purchase intention. (c) A celebrity’s credibility has a positive effect on impulsive buying tendencies. (d) A celebrity’s credibility positively influences purchase intention. (e) Purchase intention has a positive impact on impulsive buying tendencies. (f) Purchase intention acts as a mediator in the relationship between celebrity attractiveness and impulsive buying tendencies. (g) Purchase intention mediates the effect of celebrity credibility on impulsive buying tendencies.
THE IMPACT OF E-WOM QUANTITY AND E-WOM CREDIBILITY ON ONLINE PURCHASE INTENTIONS FOR GARNIER WITH BRAND IMAGE AS A MEDIATING FACTOR
This study looks at how brand image mediates the relationship between e-WOM quantity and e-WOM purchase ability and online purchase intentions. This study, which includes 160 samples, focuses on Garnier product users in Jakarta. Researchers used SmartPLS4 software to evaluate data obtained via a questionnaire instrument (G-form). The study's findings indicate that online purchase intentions for Garnier goods in Jakarta are positively impacted by e-WOM quantity, e-WOM legitimacy, and brand image. Using Garnier goods in Jakarta, this study examines how brand image influences online purchase intentions by balancing e-WOM credibility and quantity. shows how crucial it is for businesses, particularly Garnier, to boost the volume and legitimacy of e-WOM and improve brand perception in order to stimulate online customer purchase intentions. In order to draw in more customers and increase sales on bold platforms, businesses should concentrate their efforts on enhancing the caliber of reviews and bolstering brand image through efficient marketing techniques. Apart from that, companies also need to consider managing their online reputation on an ongoing basis to remain competitive in a competitive market.
CORPORATE GOVERNANCE ATTRIBUTES AND EARNINGS QUALITY: EMPIRICAL STUDY OF INDONESIAN BANKS (2019-2023)
Banking is one of the sectors that commonly attracts investors and is also one of the industries constantly scrutinized for the accuracy of its financial data, particularly profit. Profit helps investors determine whether the companies they are investing in will provide the necessary returns. Therefore, high-quality reported profit enables investors to make informed choices. Companies that understand that profit is a key component for investors often exploit information gaps between the firm and the investors, choosing to distort financial reports when times are tough. Thus, profit manipulation is closely tied to the principles of good corporate governance. Despite numerous cases and studies conducted, adequate information regarding the influence of good corporate governance on profit quality remains lacking. Therefore, further testing is necessary to examine the effect of good corporate governance—including managerial ownership, independent commissioners, audit committees, and the number of directors—as independent variables on profit quality, which serves as the dependent variable. The data was obtained from the financial statements of banking companies listed on the IDX from 2019 to 2023, using a non-probability sampling method specifically the purposive sampling technique. From the final dataset of 127 processed entries, it can be concluded that profit quality is influenced by the number of directors while managerial ownership, independent commissioners, and audit committees do not have an impact on profit quality.
THE EFFECT OF TAX AVOIDANCE, PROFITABILITY, LEVERAGE, AND COMPANY SIZE ON EARNINGS MANAGEMENT
Companies frequently use earnings management to falsify financial figures in order to accomplish specific goals. Numerous financial and operational elements, such as tax evasion, profitability, leverage, and firm size, might have an impact on this activity. The purpose of this study is to look at how these factors affect profits management in consumer goods businesses that are not cyclical and are listed on the Indonesia Stock Exchange (IDX) between 2019 and 2023. The research employs a purposive non-probability sampling method, resulting in a final sample of 127 data from 31 companies. The associations between variables are examined applying multiple linear regression analysis. The findings reveal that corporate size and leverage significantly impact earnings management. This suggests that businesses with more debt are more likely to manipulate earnings, possibly in order to satisfy debt covenants or enhance their financial soundness in the eyes of creditors. Larger companies may also be more likely to strategically modify their earnings due to their greater resources and regulatory scrutiny. Profitability and tax evasion, however, have little bearing on profits management. This suggests that efficiency, not opportunistic earnings manipulation, is the main reason why company tax planning tactics are used. Likewise, highly profitable firms may not feel pressured to alter reported earnings, as their financial performance is already strong. These results provide valuable insights for regulators, investors, and policymakers in understanding corporate financial behavior and enhancing transparency in financial reporting.
FINANCIAL RATIO ANALYSIS TO MEASURE THE FINANCIAL PERFORMANCE OF THE REGIONAL GOVERNMENT OF GORONTALO DISTRICT FISCAL YEAR 2020-2023
This study aims to assess the financial performance of Gorontalo Regency in the last four years (2020-2023) through a financial ratio analysis approach including the regional financial efficiency ratio, the effectiveness ratio of regional original income, the ratio of regional financial independence, and the ratio of regional financial efficiency. This study is expected to be an effort to improve the Performance of the Gorontalo Regency Government by knowing the financial condition of the Gorontalo Regency Government. This study applies a quantitative descriptive approach that aims to describe in detail and facts, symptoms and phenomena of an event. Data collection uses secondary data, namely the Gorontalo Regency Government APBD Financial Realization Report. The results of this study show the performance of Gorontalo Regency, regional financial independence is at a very low level and is included in the category of instructive relationship patterns. Then according to the regional financial management efficiency ratio, the assessment is inefficient, then the regional original income effectiveness ratio shows ineffective results and performance based on the regional original income growth ratio has not shown positive developments.
HOW CORPORATE GOVERNANCE MODERATES THE LINK BETWEEN EARNINGS MANAGEMENT AND FIRM VALUE
This study seeks to empirically analyze the impact of earnings management on firm value and assess the moderating role of corporate governance in this relationship among infrastructure firms listed on the Indonesia Stock Exchange. The research employs a purposive sampling technique, focusing on firms between 2019 and 2023. The data for this research is secondary, sourced from annual reports, company websites, and the Indonesia Stock Exchange. Multiple regression analysis with EVIEWS 9.0 is applied, including classical assumption tests (normality and multicollinearity), as well as model selection tests (Chow, Hausman, and Lagrange Multiplier). Hypothesis testing employs Moderated Regression Analysis and the coefficient of determination test. Findings indicate that earnings management does not significantly influence firm value. Additionally, independent commissioners and institutional ownership fail to moderate this relationship, whereas auditor classification and managerial ownership successfully act as moderators.
PROFITCAPABILITY, NET WORKING CAPITAL, FIRM SIZE, AND LIQUIDITY FACTORS IN AFFECTING CASH HOLDING
Cash holding means cash in the corporate and/or there to be invested in physical assets and to be distributed to investors. Cash holding also plays a role in financing the corporate's opepercentagenal activities and to be on guard against urgent financing. The corporate must decide the right amount of cash held by the corporate. The amount of cash held by the corporate must not be excessive and must not be lacking either. If the cash held (cash holding) by the corporate is excessive, it will cause losses for the corporate because the cash held will not provide benefits to the corporate so that it can be called idle cash, conversely if the cash held (cash holding) is too little, it will reduce the corporate's capability to fulfill the corporate's short-term obligations when they fall due and in paying other urgent financing. There are several factors that influence cash holding, including profitcapability, net working capital, firm size, and liquidity. Many studyers have conducted tests in study using these factors. The outcomes of these studies vary. There is gap study from each of these studies, therefore this study was conducted to re-test the four instruments by considering the gap study from previous studies. This study aims to re-examine whether profitcapability, net working capital, firm size, and liquidity affect cash holding in producing companies in the 2020-2022 period. The sample was selected using the purposive sampling method and data that met the criteria. The data processing technique used multiple regression analysis assisted by the Eviews 12 program. The outcomes of this study indicate that profitcapability, net working capital, firm size have a meaningful influence on cash holding while liquidity does not have a meaningful influence on cash holding.
EARNING MANAGEMENT AND LEVERAGE AS FACTORS AFFECTING TAX AVOIDANCE MODERATED BY POLITICAL CONNECTIONS
Taxpayers face a dilemma because taxes are an obligation and a burden, while the state is very dependent on them. This is based on a sense of injustice for those who do not pay taxes but still enjoy the same facilities. As a result, Indonesian taxpayers have begun to avoid taxes, which has caused the country to lose quite a large amount. In fact, not only do individual taxpayers avoid taxes, but corporate taxpayers also do so. This study uses earnings management and leverage variables as independent variables, political connection variables as moderating variables, and tax avoidance variables as dependent variables. This study focuses on taxpayers who are business entities or companies. Data was taken from the non-cyclical sector companies report of financial published on the IDX in 2020-2023. One hundred seventeen samples were used in this study. SPSS 25 is used as a sample processing tool, and the results obtained are that tax avoidance is significantly influenced by leverage, while earnings management does not have a significant effect on it. The results of this study also show that political connections cannot moderate the influence of the two independent variables on tax avoidance.
FACTORS THAT AFFECT DIVIDEND POLICY DURING THE COVID-19 PANDEMIC
This research aims to obtain empirical evidence regarding the influence of free cash flow, business risk and investment opportunity set on dividend policy in banking companies listed on the Indonesia Stock Exchange in the 2020-2022 period. Sample selection was carried out using purposive sampling, resulting in a total sample of 13 companies. Next, data model selection, classical assumption testing, data analysis and hypothesis testing are carried out. The data was processed using the E-views 12 application and the research model used was random effect model (REM). The research results show that dividend policy, which is the dependent variable, is not influenced by free cash flow, business risks and investment opportunities. The absence of a significant influence from these three variables could be due to the ongoing Covid-19 pandemic during the research.
THE INFLUENCE OF PROFITABILITY, FINANCIAL PERFORMANCE, AND CSR-D PRACTICES ON STOCK RETURN
This study aims to analyze the impact of Return on Assets (ROA), Earnings per Share (EPS), and Corporate Social Responsibility Disclosure (CSR-D) on the stock returns of banking companies listed on the Indonesia Stock Exchange (IDX) from 2019-2023. The research employs a quantitative approach with multiple linear regression analysis with the help of microsoft excel 2016 and spss version 27. Data were obtained from the annual financial reports of banking companies from 2019 to 2023. The results indicate that ROA significantly influences stock returns, whereas EPS and CSR-D do not show a significant relationship. Therefore, investors may consider profitability aspects when making investment decisions in the banking sector. This research contributes to the understanding of fundamental factors affecting stock returns and serves as a reference for stakeholders in their investment strategies.
THE EFFECT OF INSTITUTIONAL OWNERSHIP, BOARD SIZE, AND INDEPENDENT COMMISSIONER ON FINANCIAL PERFORMANCE
This research aims to collect empirical data that will explain the impact that institutional ownership, board size, and independent commissioners have on financial performance, as assessed by return on assets within the banking sector listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. It is determined by dividing the net profit after taxes by the total assets of the company. The calculation for the institutional ownership variable involves dividing the total number of shares that are outstanding by the number of shares that individual institutions hold. The board size variable is determined by the total number of active board members in the company, whereas the independent commissioner variable is determined by the proportion of independent commissioners to the total number of commissioners in the company. The company's annual report served as the source for the secondary data used in this research and was analyzed using the Microsoft Excel version 2016 application and the SPSS version 25 program. The results of the research show that only the board of directors size variable has a significant effect on the company's financial performance, which is proxied by ROA. Meanwhile, the institutional ownership and independent commissioner variables do not show a significant influence on financial performance.
THE INFLUENCE OF PROFITABILITY, INSTITUTIONAL OWNERSHIP, AND MANAGERIAL OWNERSHIP ON STOCK RETURN IN THE ENERGY SECTOR
This study aims to examine how stock returns in the energy sector listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 timeframe are impacted by profitability, institutional ownership, and management ownership. With the aid of Microsoft Excel 2016 and SPSS version 25, multiple linear regression analysis was performed on secondary data taken from firm financial reports. The percentage of shares held by institutions is the basis for institutional ownership, the percentage of shares held by firm management is the basis for managerial ownership, and Return on Assets (ROA) is the basis for profitability. The findings demonstrate that profitability positively and significantly impacts stock returns, suggesting that more profitable businesses typically offer larger stock returns. The fact that managerial and institutional ownership have no discernible impact on stock returns, however, suggests that managerial shareholding and institutional investor participation have no direct bearing on a company's stock performance. This analysis suggests that while institutional and management ownership are not determining variables in predicting stock returns, investors should prioritize profitability when making judgments about energy sector investments.
THE IMPACT OF CORPORATE GOVERNANCE, PROFITABILITY AND LIQUIDITY ON DIVIDEND POLICY IN NON-CYCLICAL SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE 2021-2023 PERIOD
This study aims to empirically analyze the effect of board size, board independence, profitability, and liquidity on dividend policy in non-cyclical segment companies published on the Indonesia Stock Exchange (IDX) for the period 2021-2023. The research utilized 90 valid data points obtained from 30 non-cyclical companies as the research sample. The sampling method employed purposive sampling technique. Hypothesis testing was conducted using multiple linear regression, with data processing carried out using E-Views version 12 software. The appropriate model for this multiple linear regression analysis is the Fixed Effect Model (FEM). This study uses Dividend Payout Ratio (DPR) as a parameter to measure the company's dividend policy. The finding of the data processing indicate that board size and board independence have a crucial good influence on dividend policy, while profitability and liquidity do not have a crucial effect on dividend policy.
THE EFFECTS OF QUALITY, ECONOMIC, SOCIAL, AND CAREER MOTIVATION ON PUBLIC ACCOUNTANTS' INTEREST IN TAKING THE CPA EXAM
This study intends to examine how public accountants' interest in pursuing CPA certification is influenced by their motivational factors, including quality motivation, economic motivation, social motivation, and career motivation. There are 71 public accountants who responded to this study by purposeful sampling. The application SmartPLS was used to test the hypothesis. According to the study, quality motivation and career motivation did not have a significant influence on the public accountant's interest in obtaining CPA certification, while economic motivations and social motivation had a significant impact on public accountants' interest in getting CPA.