Indonesian Exchange Research Articles

The Effect of Tax Planning, Leverage, and Profitability on Firm Value in the Consumer Goods Industry Sector Listed on the Stock Exchange Indonesia Year 2019-2023

This study aims to determine the effect of Tax Planning, Leverage and Profitability on Company Value in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange in 2019-2023. The population in this study is the Consumer Goods Industry Sector listed on the Indonesia Stock Exchange as many as 51 companies with a research period of 5 years (2019-2023) and obtained a research sample of 17 companies, using purposive sampling method. Based on the results of the t test, it can be seen that the t count on the Tax Planning variable is -1.774 < t table of 1.664 with a probability of t, namely sig 0.08> 0.05. Based on this value, the Tax Planning variable has no effect and is significant to the Company's Value. t test results can be seen that the t count on the Tax Planning variable is -1.774 < t table of 1.664 with a probability of t, namely sig 0.08> 0.05. Based on this value, the Tax Planning variable has no effect and is significant to the Company's Value. In the Leverage variable of -2.189 < 1.664 with a probability t, namely sig 0.03 < 0.05. Based on this value, the leverage variable has a negative and significant effect on firm value. On the profitability variable of 3.184> 1.664 with a probability t, namely sig 0.02 <0.05. Based on this value, the profitability variable has a positive and significant effect on firm value.

The Impact of Cryptocurrency and Electronic Money Use On The Circulating Money Supply and Monetary Stability in Indonesia

The purpose of this research is to analyze the long-term and short-term impacts of the use of cryptocurrency and electronic money on the money supply (M2) in Indonesia, as well as to analyze the long-term and short-term impacts of the use of cryptocurrency and electronic money on monetary stability (exchange rates) in Indonesia. The research method used is quantitative descriptive analysis with the Vector Error Correction Model (VECM) using the Eviews application and secondary data in the form of monthly data from 2011 to 2023 obtained from the official websites of Bank Indonesia and Finance. This study utilizes data on cryptocurrency transaction values and electronic money transaction values in Indonesia by analyzing the VECM model, which can observe the long-term and short-term impacts of the use of digital money on the money supply and monetary stability, in this case, viewed through the Indonesian exchange rate. The research results indicate that there is a one-way causality between electronic money and cryptocurrency, but not the other way around, and there is a one-way causality between the money supply and cryptocurrency, with the money supply as the dependent variable influencing cryptocurrency. The results of the VECM estimation indicate that in the long term, electronic money has a negative and sifnificant impact on the money supply. Meanwhile, the short-term estimation shows that both cryptocurrency and electronic money significantly influence the money supply, but their effects are dynamic and vary based on different lags. The long-term estimation with the exchange rate as the dependent variable shows that cryptocurrency does not have a significant impact on the exchange rate, while in the short term, both cryptocurrency and electronic money have a negative and significant effect on the exchange rate.

The Impact of Cryptocurrency and Electronic Money Use On The Circulating Money Supply and Monetary Stability in Indonesia

The purpose of this research is to analyze the long-term and short-term impacts of the use of cryptocurrency and electronic money on the money supply (M2) in Indonesia, as well as to analyze the long-term and short-term impacts of the use of cryptocurrency and electronic money on monetary stability (exchange rates) in Indonesia. The research method used is quantitative descriptive analysis with the Vector Error Correction Model (VECM) using the Eviews application and secondary data in the form of monthly data from 2011 to 2023 obtained from the official websites of Bank Indonesia and Finance. This study utilizes data on cryptocurrency transaction values and electronic money transaction values in Indonesia by analyzing the VECM model, which can observe the long-term and short-term impacts of the use of digital money on the money supply and monetary stability, in this case, viewed through the Indonesian exchange rate. The research results indicate that there is a one-way causality between electronic money and cryptocurrency, but not the other way around, and there is a one-way causality between the money supply and cryptocurrency, with the money supply as the dependent variable influencing cryptocurrency. The results of the VECM estimation indicate that in the long term, electronic money has a negative and sifnificant impact on the money supply. Meanwhile, the short-term estimation shows that both cryptocurrency and electronic money significantly influence the money supply, but their effects are dynamic and vary based on different lags. The long-term estimation with the exchange rate as the dependent variable shows that cryptocurrency does not have a significant impact on the exchange rate, while in the short term, both cryptocurrency and electronic money have a negative and significant effect on the exchange rate.

PENGARUH KEBIJAKAN DIVIDEN, TAX AVOIDANCE DAN STRUKTUR ASET TERHADAP STRUKTUR MODAL PERUSAHAAN SEKTOR CONSUMER NON CYCLICALS YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) SELAMA PERIODE TAHUN 2018-2022

This research aims to analyze the influence of dividend policy, tax avoidance and asset structure on capital structure. This research was conducted by analyzing the financial reports of companies in the non-cyclical consumer sector listed on the Indonesia Stock Exchange (BEI) during the period 2018 to 2022. The sample used in this research was 24 non-cyclical consumer sector companies listed on the Stock Exchange Indonesia (BEI) during the period 2018 to 2022 using purposive sampling techniques. The data used in this research is secondary data in the form of financial reports from each company that has been used as a research sample. The panel data regression method was used as the research methodology in this study. Analysis of research results using Eviews 12 Student Version Lite software. The results of this research show that Dividend Policy partially influences Capital Structure. Tax Avoidance partially has no effect on Capital Structure, Asset Structure partially has an effect on Capital Structure and simultaneously Dividend Policy, Tax Avoidance and Asset Structure have an effect on Capital Structure.

The effect of Sharia governance on financial performance mediated by leverage: Study on primary consumer goods sector in Indonesian Sharia Stock Index

This study aims to examine the effects of sharia governance on financial performance mediated by leverage. This study employs a quantitative methodology. The participants in this study obtained from Indonesia Exchange using 81 companies in the Primary Goods Consumer Sector. Purposive sampling was used, and there were 26 companies as the sample. The data analysis used SPSS and path analysis, with 78 observations from 2020-2022. The findings of this study indicate that Sharia governance does not have a significant effect on financial performance. However, sharia governance has a significant effect on leverage. Leverage also has a significant effect on financial performance. Leverage can mediate the link between Sharia governance and financial performance.

Stenotrophomonas maltophilia G17: Potential antifungal agent isolated from the gut of black soldier fly larvae against Ganoderma boninense

Oil palm (Elaeis guineensis Jacq.) is the primary source of foreign exchange in Indonesia's plantation sector. However, these plants are very vulnerable to attack by Ganoderma spp., which causes basal stem rot (BSR) and upper stem rot (USR) disease, resulting in significant economic losses. In this study, antagonistic assays of the G17 isolate obtained from the gut of black soldier fly (BSF) larvae showed potential biocontrol against G. boninense. Furthermore, antibiosis assays showed that the Stenotrophomonas maltophilia G17 isolate inhibited the growth of G. boninense by up to 85.56%–91.98%. Molecular identification using 16S rRNA, reinforced by biochemical characterization tests, confirmed the G17 isolate as S. maltophilia. Growth test results showed that S. maltophilia G17 cannot grow at a temperature of 37 °C within 24 h. The isolate also exhibited negative hemolytic activity, indicating it is not a pathogenic bacterium. S. maltophilia G17 exhibited lytic enzymes such as proteolytic, lipolytic, and chitinolytic activity. Among them, chitinolytic enzymes might be involved in the biocontrol process.

Causality Analysis Between Exchange Rate, Current Balance Sheet, Inflation, and Gross Domestic Product in ASEAN-5 1980-2022

This research investigates the causality between exchange rate, current balance sheet, inflation, and gross domestic product in ASEAN 5 from 1980 to 2022. The method employs the Granger causality test. This research finds weak evidence of a J-curve effect on the current account balance in Indonesia because empirical results with several tests and models reject the J-curve hypothesis and do not find evidence of an influence of the rupiah exchange rate on Indonesia's current account balance in the long term so that it can the conclusion is drawn that: (1) There is no causal relationship between the current account balance and the exchange rate in Indonesia from 1996-2022; (2) Changes in exchange rates affect changes in the current account balance in the short and long term; (3) The mechanism for changes in the current account deficit does not affect changes in the exchange rate

Analisis Faktor – Faktor Keuangan yang Mempengaruhi Peringkat Obligasi (Studi Kasus Pada Perusahaan Manufacture yang Terdaftar Di Bursa Efek Indonesia) Periode 2016 – 2020

This research aims to determine the effect of productivity, profitability, growth and leverage on bond ratings (Case Study of Manufacturing Companies Listed on the Indonesia Stock Exchange). The population in this study were all manufacturing companies listed on the Indonesia Stock Exchange with a total sample of 17 companies. The sampling method used is purposive sampling method. The data source used is secondary data and technical data analysis using logistic regression analysis. The results of this study indicate that productivity, profitability, growth and leverage simultaneously affect the bond ratings of manufacturing companies listed on the Indonesia Stock Exchange for the period 2016 – 2020. Partially productivity, profitability, growth and leverage affect the bond ratings of manufacturing companies listed on the Stock Exchange Indonesia period 2016 – 2020. Keyword: Bond Rating, Productivity, Profitability, Growth and Leverage

Pengaruh ESG terhadap Kinerja Perusahaan: Moderasi Board Gender Diversity

Company performance is a metric in assessing the level of success of a company in a certain period. to maintain good company performance, companies need to manage core business, namely building good relationships with stakeholders. For investors as stakeholders, the availability of information presented by the company is very important to decide on the right capital allocation and avoid the risks that occur. With the encouragement from the government and investors as stakeholders, more and more companies want to provide a clear picture of corporate practices and responsibilities, one of which is by disclosing environmental, social and corporate governance (ESG) aspects. The purpose of this study to provide empirical evidence regarding the influence of ESG on company performance, provide empirical evidence regarding the role of board gender diversity on the influence of ESG on the performance of companies listed on the Stock Exchange in Indonesia and Germany in 2018-2022. The sampling technique in this study was purposive sampling. Data was taken from Thomsonreuters and this study used panel data regression analysis with STATA 17. The results of this study found that ESG has no effect on company performance in Indonesia. The results of further research found that ESG has a negative effect on company performance in Germany. This study found that board gender diversity plays a role in encouraging ESG activities to improve firm performance in Germany.

Pengaruh Ukuran Perusahaan, Leverage dan Profitabilitas terhadap Harga Saham

The aim of this research is to partially test and analyze the influence of each variable Company Size, Leverage and Profitability on stock prices (2) To test and analyze the influence of Company Size, Leverage and Profitability simultaneously on Stock Prices. This type of research is causal quantitative research, the data source used is secondary data. The data analysis technique uses multiple linear regression. Data collection methods consist of library studies and documentation. As well as the sampling technique using the Purposive Sampling method with research data from 30 Property and Real Estate companies listed on the IDX as the population and 18 companies as the sample. The t test results show that partially, Company Size (L.N.T.ASSETS) has a negative and significant effect, Leverage (DER) has a positive and significant effect, Profitability (ROA) has a negative and insignificant effect on share prices listed on the Indonesia Stock Exchange. The results of the f test show that Company Size (L.N.T.ASSETS), Leverage (DER), Profitability (ROA) simultaneously have a significant effect on Share Prices (PER) listed on the Stock Exchange in Indonesia.

Pengaruh Profitabilitas, Leverage, Dan Likuiditas Terhadap Agresivitas Pajak (Studi Empiris Perusahaan Sektor Energi yang terdaftar di Bursa Efek Indonesia Tahun 2018-2020)

This study aims to examine the effect, profitability, leverage, and liquidity on tax aggressiveness in Energy sector companies listed on the Indonesia Exchange in 2018-2020. The research data is secondary data in the form of financial reports from the company. While the population in this study were all Energy sector companies listed on the Indonesia Stock Exchange in 2018-2020. Sampling in research using purposive sampling method where the population is 72 companies. In accordance with the selected sample criteria, the companies sampled in this study were 24. The data analysis used is multiple linear regression. The results of this study indicate that Profitability, Leverage and Liquidity have no simultaneous effect on tax aggressiveness with a significant value of 0.288, profitability has no effect on tax aggressiveness with a significant value of 0.797, Leverage has no effect on tax aggressiveness with a significant value of 0.467, Liquidity has no effect on tax aggressiveness with a significant value of 0.058.

OGOH-OGOH PARADE AS A TOURISM ATTRACTION

Tourism is one of the driving forces of the economy and the largest contributor to foreign exchange in Indonesia which plays a very important role in providing the welfare of the community, especially those around tourism areas. Bali, with its beautiful traditions and religion, has always been an endless attraction for tourists, making the tourists who come amazed and enchanted. There are various types of Hindu religious holidays, one of which is Nyepi. Ogoh-ogoh is a work of sculpture in Balinese culture that depicts Bhuta Kala's personality. In the teachings of Hinduism, Bhuta Kala represents the power (Bhu) which means the universe and (Kala) which is immeasurable and undeniable. This research approach is qualitative research. According to qualitative research is an in-depth process that refers to a methodology for exploring human problems. The data analysis technique used by researchers is the SWOT Analysis Technique, which is a way of analyzing internal and external factors into strategic steps in optimizing a profitable business. The ogoh-ogoh parade attraction is presented on every road in Bali during the Pengerupukan holiday celebration. This attraction can only be enjoyed during the Nyepi holiday series. To increase tourist attraction, of course the tourist attractions developed in this ogoh-ogoh parade are ogoh-ogoh which can move when paraded, ogoh-ogoh with very good detail so that the visualization of the ogoh-ogoh is real. Keywords; Ogoh-ogoh parade, Tourism Attraction, Communication Pattern

Determinants of Banking Performance for Commercial Banks on Indonesia Stock Exchange

This study examines the determinants of Indonesian banking performance caused by global uncertainty such as geopolitical conflicts and post-pandemic conditions. The study adopted quantitative approach and used samples by 34 commercial banks listed on Indonesia Exchange Stock period 2017 to 2023. Panel data regression used as analytical method. This study used bank size, bank capital, liquidity, credit risk, and inflation rate as independent variables. Furthermore, bank performance was measured by return on asset. The findings of this study were bank size and inflation rate positively impact on return on asset while the other variables have no relationship on bank performance. This study could be used as reference for future research and for banking management decision-making.

PENGARUH PERTUMBUHAN PENDAPATAN, KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN INFRASTRUKTUR YANG TERDAFTAR DI BEI

The purpose of this research is to analyze the effect of sales growth, dividend policy, debt policy and company’s size to infrastructure’s company value listed in Indonesia Exchange Stocks. The method of this research is clause method and use the purposive sampling method as the method to sampling the research’s population. The total of this research’s sample is 26 company. The result of the hypothesis test of the sales growth is the sales growth doesn’t affect the company’s value. The result is t-test 0.477 < t-table 1,666462. The result of the hypothesis test of the dividend policy is the dividend policy doesn’t affect the company’s value. The result is t-test 0.6389 < t-table 1,666462. The result of the hypothesis test of the debt policy is the debt policy affect the company’s value positively significant. The result is t-test 3,956 > t-table 1,666462. The result of the hypothesis test of the company’s size is the company’s size affect the company’s value positively significant The result is t-test 6,083 > t-table 1,666462. The result of simultaneously test is sales growth, dividend policy, debt policy, company’s size affects the company’s value, with the test result is F-test 5,607862 > F-table 2,332.

HUBUNGAN EKSPOR, IMPOR, INFLASI, DAN JUMLAH UANG BEREDAR TERHADAP PERTUMBUHAN EKONOMI INDONESIA DENGAN NILAI TUKAR SEBAGAI MEDIASI

The economic level of a country can be identified by looking at its economic growth. Economic growth in each period will not be consistent all the time, but will experience periodic fluctuations.The aim of this research is to examine the connection between exports, imports, inflation, the amount of money in circulation and economic growth through the exchange rate in Indonesia. This research uses multiple linear regression analysis methods with secondary data. The data used consists of information regarding exports, imports, inflation, money supply, exchange rates and Indonesia's economic growth. In terms of data collection time, this type of data study uses time series data collected from the years 2018-2022 with SPSS 21. Based on the results of research that has been carried out, direct influence shows that exports & imports do not have a significant effect on economic growth, while inflation & money supply has a significant positive effect on economic growth. Apart from that, the indirect effect shows that exports through the exchange rate have a positive and insignificant effect on economic growth, money supply through the exchange rate has a positive and significant effect on economic growth, while imports & inflation through the exchange rate have no significant effect on economic growth.

Analysis of post COVID-19 economic recovery on inflation fluctuation management in Indonesia

This research aims to find out, explain and test the Post-COVID-19 Economic Recovery Analysis of Inflation Fluctuation Management in Indonesia. This research uses quantitative methods with a descriptive and verification approach by collecting presentations through a process of analysis and hypothesis testing. The data used is secondary data, namely from Ceic Data, Trading Economics and Bank Indonesia for 2019-2023. The data analysis method in this research uses a difference test where this model is used to analyze pre-post or before and after research models. The research results show that there are significant differences in inflation and exchange rates during COVID-19 and post-COVID-19. Post-COVID-19 economic recovery policies such as fiscal stimulus and quantitative easing were able to reduce inflation and stabilize the exchange rate. Coordination is needed between the central, regional and monetary authorities to maintain macroeconomic stability after the pandemic. This research concludes that the post-COVID-19 economic recovery policy has succeeded in controlling inflation and the exchange rate in Indonesia, although regular evaluation and refinement of policies is required.

Influence of Good Corporate Governance and Corporate Social Responbility To Company Value with Profitability as a Moderation Variable (Studies on Manufacturing Companies Listed on the Stock Exchange Indonesia Year 2017-2021)

Purpose: The study added profitability as a moderating variable, predicting that the higher the profitability a firm has achieved, the more valuable it will be. Companies that can survive over the long term are reflected in further improvements in corporate value. Theoretical framework: Agency theory focuses on two individuals, namely the principal and the agent. The principal delegates responsibility for decision making to agents. Both principals and agents are assumed to be rational economic people who are solely motivated by self-interest, but they have difficulty differentiating respect for preferences, beliefs and information. Material and Method: This study uses a kind of quantitative research. The audit committee, board size, excellent corporate governance, and corporate social responsibility are the study's independent variables. Tobin's Q-ratio is the dependent variable in this investigation. The moderator variable for this study is profitability. The study uses secondary data, i.e. data from financial reports. The survey was conducted on all manufacturing companies listed on the Indonesian Stock Exchange. A quantitative approach was used using mathematical models for collection and analysis using statistical formulas. The sampling technique of the data collection method used in this study is literature review. internet media. The study population is manufacturing companies listed on the Indonesian Stock Exchange (IDX) between 2017 and 2021. The sample size for this study is 40 companies he listed on IDX between 2017 and 2021. The results show that the size of a company's board of directors has a significant impact on corporate value in the IDX-listed manufacturing industries from 2017 to 2021. Findings: The results show that audit committees will not have a significant impact on the enterprise values of manufacturers listed on the IDX from 2017 to 2021. Findings show that corporate social responsibility (CSR) does not have a significant impact on corporate value for manufacturers listed in the IDX 2017-2021. Research practical & Social Implication: Based on the research, the results of this study also show that the size of a company's board of directors helps increase shareholder value. Originality/value: This is evidenced by her MRA test results in the previous chapter, where profitability amplifies the effect of a company's board size on its value. After all, the more profitable a company is, the more the board will be happy to work and the more valuable the company will be.

INDONESIA’S TAX LANDSCAPE: UNVEILING CBCR AND TAX HAVENS WITH INSTITUSIONAL OWNERSHIP

This study examines the effects of country-by-country reporting (CbCR) and the utilization of tax havens on tax avoidance strategies while taking into account the moderating effect of institutional ownership. This study employs purposive sampling techniques to evaluate data from 140 businesses listed on the Indonesia Stock Exchange (IDX) in Indonesia from 2013 to 2022. The data analysis is conducted using Eviews 13 software. The research findings suggest that the adoption of CbCR is successful in mitigating tax avoidance strategies. Conversely, tax havens have a negligible effect on tax avoidance. Institutional ownership has the ability to minimize the impact of CbCR by diminishing the correlation between CbCR and tax avoidance. Nevertheless, the presence of institutional ownership does not mitigate the effect of tax havens on the adoption of tax avoidance strategies. This study enhances comprehension regarding the functions of CbCR, tax havens, and institutional ownership in relation to tax avoidance in Indonesia. The practical ramifications of this study include the implementation of CbCR policies to improve corporate transparency and the exploration of various factors that influence tax procedures at the company level in Indonesia.

INFLUENCE OF DIVIDEND PAYOUT RATIO, DEBT TO EQUITY RATIO, DECISIONS INVESTMENT AND PROFITABILITY ON FOOD AND COMPANY VALUE DRINK WHICH REGISTERED IN EXCHANGE EFFECT INDONESIA PERIOD 2019 – 2022

This study aims to determine the influence of Dividend Payouts Ratio, Debt To Equity Ratio, Decision investment, Profitability On the Company Value Population in study This is company consumption sub sector food and beverages for 2019 – 2022 listed on the Indonesia Stock Exchange (IDX) Which amount 31 company Based on research results and discussion about InfluenceDividend Payouts Ratio, Debt To Equity Ratio, Decision investment, Profitability On the Value of Food and Beverage Companies Registered on Exchange Effect Indonesia Period 2019 – 2022. Can concluded as following: Variable Dividend Payouts Ratio (X1),variable Decision Investment (X3), And Profitability variable (X4) does not have a significant effect on variable Mark Company(Y) on Company Food and Drink Which Registered in Exchange Effect Indonesia 2019 - 2022. Variable Debt to Equity Ratio (X2)influential in a way significant to Company Value (Y) variable in Food and Beverage Companies Which Listed on the Stock Exchange Indonesia 2019 - 2022. Based on results study and discussion Which has obtained that the independent variable (X) is Dividend Payout Ratio, Debt To Equity Ratio, Decision Investment, And Profitability No influential in a way simultaneous tovariable dependent (Y) to Mark Company in Food and Beverage Companies Listed on the Stock Exchange Indonesia Period 2019 -2022.

The impact on downstream policy implementation for mineral export products in Indonesia: marine transportation point of view

Indonesia is a country with abundant natural resources, particularly for metal mineral mining. In 2020, Indonesia is recorded to have approximately 1.2 billion tons of bauxite ore reserves, which made Indonesia the 6th largest owner of bauxite reserves in the world. Apart from bauxite, around 52% or 72 million tonnes of world nickel reserves are also located in Indonesia. However, most of the bauxite and nickel mining production have been exported in the form of ore or concentrate, which has a much lower selling value compared to the processed products. Therefore, the Indonesian government imposed a ban on the export of unprocessed minerals through Law Number 3 of 2020. The export ban is intended for mineral mining products, especially bauxite and nickel, to be processed first into semi-finished goods or finished goods, to provide added value in terms of foreign exchange for Indonesia. This study aims to determine the impact on the implementation of the downstream program, especially for nickel mineral product from marine transportation point of view. The method used in this study is optimizing non-linear programming to determine the type and number of fleets needed to transport nickel from the mine site to the smelter and its processed products from the smelter to the importing country by considering the minimum unit transport costs. The output of this research is the configuration of the sea transport fleet required for the implementation of the mineral product downstream program as well as the potential added value of transporting those processed products into the Indonesia‘s balance of payment.