Stock Exchange Website Research Articles

The Effect of Ceo Compensation, Ceo Managerial Ability, and Ceo Tenure on the Company's Financial Performance with Der as the Mediating Variable

The study aims to analyze whether CEO Compensation, CEO Managerial Ability, and CEO Tenure partially have a positive and significant influence on the Debt-to-Equity Ratio. Furthermore, to find out whether CEO Compensation, CEO Managerial ability, CEO tenure, and Debt-equity ratio have a significant and positive effect on the Return on Assets. The type of quantitative analysis method used in this study is path analysis using the help of statistic software Eviews version 12. The data used in the study is secondary data taken from the annual financial reports published on the Indonesia Stock Exchange website for 5 years (2018-2022) on 25 companies in the Consumer Non-Cyclicals sector that are listed in the BEI Period 2018 – 2022 So the amount of data on this study was 5x25 or 125 observation data. The results of this study show that (1) CEO Compensation has no positive effect on the Debt to Equity Ratio (2) CEO Managerial ability hurts debt to equity ratio (3) CEO Tenure has no negative impact on the debt-to-equity ratio (4) CEO Compensation does not have a positive influence on the Return on Assets (5) CEO Management Ability has not a positive impact on return on assets (6) CEO tenure has not had a positive effect upon the return on the assets (7) Debt on the Equity Ratio hurts returns on the Assets. (10) Debt to Equity Ratio does not mediate the influence of CEO Tenure on Return on Assets.

Disclosures in integrated reporting in Indonesia: Do corporate governance and ownership structures matter?

This study aims to analyze the impact of corporate governance and ownership structure on implementing elements of integrated reporting (IR) in the annual reports and sustainability reports of firms in Indonesia. This study includes corporate governance elements such as the size of the board of directors, the independence of the board of commissioners and the presence of audit and risk management committees. Meanwhile, the ownership structures examined in this study are institutional ownership and managerial ownership. The data were obtained through the content analysis of firms’ annual and sustainability reports. This research uses secondary data from the firms' websites and the Indonesia Stock Exchange (IDX) website. The data were then analyzed further using multiple regression analysis. The results show that only the risk management committee positively affects IR disclosure. At the same time, other independent variables do not affect IR disclosure. All control variables positively affect IR disclosure. This study adds to the literature by demonstrating that the risk management committee, firm size, profitability and leverage influence the extent of integrated reporting disclosure. This research contributes to corporations by illustrating that a risk management committee can enhance the importance of IR disclosure in Indonesia.

PENGARUH UKURAN, PERTUMBUHAN, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN DENGAN VARIABEL INTERVENING HARGA SAHAM

This research aims to test and analyze the influence of size, growth and leverage on company value with the intervening variable stock price. The population in this research are food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange 2020-2022. Meanwhile, the sample in this study was 22 companies selected using the purposive sampling method. This research uses a quantitative research type and approach. The data collection method used in this research is secondary data obtained from the Indonesia Stock Exchange website, namely in the form of annual financial reports. The data analysis method used in this research is Descriptive Statistical Analysis, and Inferential Statistical Analysis. Data analysis was carried out using statistics with the SmartPLS version 4.0 tool. Based on the results of data analysis using hypothesis testing, it shows that company size and company growth have a significant effect on share prices, while leverage has no significant effect on share prices. Company size, leverage, and share price have a significant effect on company value, while company growth does not have a significant effect on company value. Company size and company growth have a significant effect on company value through share prices, while leverage does not have a significant effect on company value through share prices.

The impact of risk factor disclosure on the initial return of IPO companies amidst a pandemic

The capital market has increasingly become a pivotal avenue for enterprises seeking additional capital for expansion or operational enhancements. In raising funds through an Initial Public Offering (IPO), the company must publish its risk disclosure in the prospectus. Therefore, this study aims to investigate the impact of risk disclosure on the initial return of Indonesian companies undergoing IPOs during the pandemic. Using data from 136 out of 164 companies that went public between 2020 and 2022, sourced from the Indonesian Stock Exchange and company websites, the study employs the ordinary least squares method to estimate the impact of risk disclosures on initial returns during the pandemic. The findings reveal that external and overall risk disclosures significantly influence IPO initial returns. Specifically, Indonesian investors were particularly attentive to external and overall risks when evaluating IPOs during the pandemic. This heightened concern suggests that comprehensive risk disclosure can affect investor behavior and financial outcomes for companies going public in uncertain times, highlighting the importance of transparency in risk communication to support investor decision-making and market stability.

Key Factors Affecting the Value of Energy Sector Companies

The purpose of this study is to empirically test the effect of Debt-to-Equity Ratio (DER) and Return on Asset Ratio (ROA), moderated by Good Corporate Governance (GCG), on the Company's Value. This research is conducted using a quantitative approach with four variables. The independent variables are Debt to Equity Ratio (DER), Return on Assets (ROA), and Good Corporate Governance as the moderating variable, while the dependent variable is the Company's Value (Price to Book Value). The study was conducted on the Indonesia Stock Exchange during the period 2021-2023, and the data were sourced from the official Indonesia Stock Exchange website, with a population and sample consisting of 31 companies in the Energy Sector, specifically the Oil, Gas, and Coal Sub-sectors. The results of the analysis using robust regression show that the independent variable (X1) does not affect Y, with a probability value greater than alpha, while the independent variable (X2) significantly affects Y. Furthermore, the interaction between variable (X1) and the moderating variable is not able to significantly moderate the effect of variable X1 on Y, and the interaction between variable X2 and the moderating variable is also not able to significantly moderate the effect of variable X2 on Y.

Mediating Effects of Earnings after Tax: Cost of Good Sold, Sales Growth, and Dividend Payout Ratio

The research aims to analyze the mediating effect of Earning After Tax on the influence of Cost of Good Sold (COGS) and Sales Growth on the Dividend Payout Ratio (DPR). This research uses a descriptive verification method with a quantitative approach. The research method uses classical assumption, associative, and path analyses. The analysis in this research is supported by the use of SPSS for Windows version 23. The data is secondary data from the Indonesian Stock Exchange website (www.idx.co.id). Based on the research results, it was concluded that there is a significant influence between the Cost of Good Sold (COGS) on the Dividend Payout Ratio (DPR) in consumer goods industry companies listed on the Jakarta Islamic Index (JII) for the 2011-2019 period with the results t count > t table (2.075 > 2.042) so Ha is accepted. There is an insignificant influence between Sales Growth on the Dividend Payout Ratio (DPR) in consumer good industry companies listed on the Jakarta Islamic Index (JII) for the 2011-2019 period because t count < t table (1.458 < 2.042), so Ho is accepted. There is a significant influence between Earning After Tax (EAT) and the Dividend Payout Ratio (DPR) in consumer goods industry companies listed on the Jakarta Islamic Index (JII) for the 2011-2019 period. Ha is accepted with the results t count > t table (4.237 > 2.042). Meanwhile, the Cost of Good Sold (COGS) influences the Dividend Payout Ratio (DPR) through Earning After Tax (EAT) Z value (2.702) and p-value 0.006 < 0.050. Moreover, Sales Growth influences the Dividend Payout Ratio (DPR) through Earning After Tax (EAT) Z value (2.178) and p-value 0.0296 < 0.050.

Profitabilitas, Likuiditas dan Pertumbuhan Perusahaan pada Kebijakan Hutang Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2018 – 2022

This research aims to determine and analyze the influence of profitability, liquidity and company growth on the debt policy of manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2022 period. This type of research is quantitative research using secondary data obtained from the Indonesia Stock Exchange website. The total population is 226 companies and the sample is 25 companies with a total of 125 observations. Sampling used purposive sampling technique. The data analysis method uses Ordinary Least Square, with a panel data regression model approach and statistical t-test.The research results show that: Profitability/ROA has a negative and insignificant effect on the debt policy of manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the 2018-2022 period. Liquidity/CR has a positive and significant effect on the debt policy of manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the 2018-2022 period. Company growth / GROWTH has a positive and significant effect on the debt policy of manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the 2018-2022 period.

Volatilitas Harga Saham Industri Ekonomi Baru dan Non-Ekonomi Baru di Indonesia: Apakah Fenomena IPO keduanya berbeda?

This research explores the influence of financial performance on the shares of companies conducting an Initial Public Offering (IPO) and analyzes the influence of leverage, company size, managerial ownership structure, and board educational background on share price volatility. This study is based on signal theory and focuses on new economy and non-new economy industries that conduct IPOs between 2021 and 2022. Using financial data from the Indonesia Stock Exchange (IDX) website, the population of e-commerce companies consists of 3 companies, while The sample of non-e-commerce companies consists of 12 companies. The research results show that leverage has a positive effect on stock price volatility.

The Effect of Institutional Ownership, Independent Board of Commissioners and Profitability on Tax Avoidance in Technology Companies Listed on the Indonesia Stock Exchange

This study aims to analyze the effect of institutional ownership, independent board of commissioners, and profitability on tax avoidance in technology companies listed on the Indonesia Stock Exchange during the 2021-2023 period. The research method used is quantitative with secondary data analysis from financial reports published through the Indonesia Stock Exchange website. Analysis techniques include descriptive statistics and multiple linear regression. The results of the study partially show that Institutional Ownership has a significant but negative effect on tax avoidance with a t-value of -6.350 and a significance of 0.028, which is greater than 0.05. The Independent Board of Commissioners has a significant but negative effect on tax avoidance, reflected in the t-value of -5.395 and a significance of 0.034, which is greater than 0.05. Likewise, profitability has a significant but negative effect on tax avoidance with a t-value of -1.758 and a significance of 0.048 greater than 0.05. Simultaneous analysis shows that the combination of these three variables as a whole has a significant effect on tax avoidance. In conclusion, each variable partially and simultaneously shows a significant influence on tax avoidance, which indicates that these factors need to be considered in the company's strategy related to tax avoidance. Keywords: Independent Board of Commissioners, Institutional Ownership, Profitability, Technology Companies, Tax Avoidance

THE EFFECT OF TAX AVOIDANCE AND CORPORATE GOVERNANCE ONFIRM VALUE WITH SUSTAINABILITY REPORTING AS MODERATION

The research employs Sustainability Reporting as a moderating variable. We aim to discover of Sustainability Reporting roles on the influence of Tax Avoidance and Corporate Governance on Firm Value. This research is a quantitative study with a data panel analysis. The sample used in this study was data from financial reports of financial sector companies published on the Indonesia Stock Exchange website from 2018 to 2021. The sample was selected from 94 companies using a purposive sampling technique. The data are analyzed using panel regression models. Research findings reveal that tax avoidance and corporate governance do not have a significant effect on firm value, and tax avoidance and corporate governance on firm value moderating by sustainability reporting also have no significant effect on firm value. This is because the financial sector consists mostly of banks, subject to stricter supervision than other sectors, so many data measurements are difficult to obtain. The research delivers understanding and information on behalf of the influence of tax avoidance and corporate governance with sustainability reporting as moderating on firm value, particularly for the financial sector in Indonesia.

ANTECEDENTS TO THE CAPITAL STRUCTURE OF SERVICE COMPANIES LISTED ON THE IDX IN 2019-2023

This research was conducted because of different research results regarding the factors that influence capital structure, especially profitability, asset growth and business risk. By using quantitative descriptive analysis and purposive sampling techniques, the final sample obtained was 8 companies. The data source used is secondary data obtained from the Indonesian Stock Exchange website. The data analysis technique used is descriptive statistics and panel data regression analysis with the help of EViews 11. Based on the analysis results, it shows that profitability and asset growth have no effect on capital structure, while business risk has a negative effect on capital structure.

ANALYSIS OF INVESTMENT DECISIONS, FUNDING DECISIONS, AND DIVIDEND POLICIES ON THE PROFITABILITY OF THE INFRASTRUCTURE SECTOR ON THE INDONESIA STOCK EXCHANGE

This study aims to analyze the influence of investment decisions, funding decisions, and dividend policies on the profitability of infrastructure sector companies on the Indonesia Stock Exchange, both individually and together. The qualitative and quantitative data were collected using secondary data from the financial statements of Infrastructure sector companies taken from the Jakarta Stock Exchange website for the period 2018-2021. The results show that investment decisions have a positive but not significant influence on the profit margin of the infrastructure sector company. The dividend policy has a negative and insignificant effect on the profits of the company. Therefore, the higher the company's commitment to distributing dividends, the better the profitability will be encouraged. Based on the results of the study, it is recommended that the management of infrastructure sectors manage investment decisions and funding policies efficiently to increase profitability and competitiveness.

DISAPPEARING THE DAY OF THE WEEK EFFECT ON RETURN TO INVESTORS: NOVEL EVIDENCE FROM INDIAN STOCK MARKET

The efficiency in emerging markets is becoming more important as the trend of investment in these markets is accelerating nowadays. The level of market efficiency influences an investor's investment strategy because of its improper valuation. The improper valuation of securities may lead to abnormal gains for the investor. On the other hand, abnormal gain in a perfectly efficient market is impossible as the share price absorbs all the information available in the public domain. However, efficiency in its finest sense is a distant reality. Many researchers have pointed out different levels of efficiencies, including the presence of calendar anomalies. The purpose of the study is to capture the effect of the day of the week on the stock return and volatility in India. Daily time series data of Sensex and Nifty were collected from the two prominent exchanges of India, i.e. Bombay Stock Exchange and National Stock Exchange websites, for a period of four years. After validating stationarity with ADF and Phillip-Perron tests, the study used GARCH, EGARCH and TGARCH models to capture day impacts on stock return and volatility. The study reveals that the Tuesday effect persisted in the Indian stock market during the study period. Moreover, the TGARCH model was found to be the most suitable model for describing volatility behaviour in the Indian stock market. As other days in the week were less significant, the study's findings suggest that the gradual disappearance of day affects the Indian capital market. Another study finding is the significance of the leverage effect, which implies the increased role of bad news over good news while capturing the day-of-the-week effect. Considering the above facts, the present study's findings contribute to a deeper understanding of stock market dynamics and the challenge of the day-of-the-week effect on market efficiency.

PENGARUH PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP STRUKTUR MODAL PADA PERUSAHAAN KONSTRUKSI YANG TERDAFTAR DI BEI PERIODE 2018-2022

The aim of this research is to determine the effect of profitability and company size on the capital structure of construction companies registered in BEI for the 2018-2022 period, through financial ratios as research variables, namely profitability consisting of Return on Assets (ROA), Return on Equity (ROE) and Return on Investment (ROI), company size (SIZE) and capital structure or Debt to Equity Ratio (DER). This research uses secondary data, namely company financial publications via the Indonesia Stock Exchange website (www.idx.co.id). The research results show that by partial data testing, the Profitability variable has a significant effect on the Capital Structure of Construction Companies Registered in BEI for the 2018-2022 period, so H1 is accepted. Partially, the company size variable has no effect on the capital structure of construction companies registered on BEI for the 2018-2022 period, so H2 is rejected. Then the profitability and company size variables simultaneously have a positive and significant effect on the capital structure of construction companies registered with BEI for the 2018-2022 period, so H3 is accepted.

Pengaruh Capital Adequacy Ratio, Non Perfoming Loan, Loan To Deposit Ratio dan Biaya Operasional Pendapatan Operasional Terhadap Profitabilitas

In 2019-2023, the average profitability in the banking sub-sector has increased and decreased. This study aims to analyse the Capital Adequacy Ratio, Non Performing Loan, Loan to Deposit Ratio and Operating Cost of Operating Income on Profitability. The research methodology used in this study uses quantitative methods. Data obtained from the Indonesia Stock Exchange website (www.idx.co.id) and www.bi.go.id. The population in this study are banking subsector companies listed on the Indonesia Stock Exchange in 2019-2023. The sampling technique used purposive sampling technique with a sample of 22 (twentytwo) companies. Data analysis for hypothesis testing using Multiple Linear Regression with the help of the Statistical Package for Social Sciences (SPSS) version 22 (twenty-two) programme. The results showed that Capital Adequacy Ratio and Loan to Deposit Ratio had no effect on Profitability, while Non Performing Loan and Operating Cost of Operating Income had a negative effect on Profitability.

The Effect of Eco-Efficiency and Eco-Innovation Disclosure on Firm Value: Does Profitability Matter?

This research aims to test whether profitability strengthens the influence of eco innovation and eco efficiency disclosures on the value of mining sector companies listed on the Indonesia Stock Exchange. Research data was obtained from annual reports and sustainability reports from the Indonesian Stock Exchange website and company websites. The sample used was 39 companies that met the criteria and were listed on the Indonesia Stock Exchange in 2018 – 2021. The sample data calculation technique used the cross sectional method via the eviews application. Hypothesis testing in this research uses multiple linear regression analysis methods. The results of this research show that eco innovation and eco efficiency have a positive effect on firm value, and profitability has an effect as a moderating predictor variable in the relationship between eco innovation and eco efficiency on firm value. This study differentiates samples based on more diverse dependent variables and involves moderating variables as amplifiers. Previous research did not use the two dependent variables, namely eco innovation and eco efficiency simultaneously so that the value of the company could not be determined as a whole whether the implementation of both had an effect on the value of the company. Then the researchers found that investors considered the application of eco innovation and eco efficiency to the value of mining sector companies.

The Effect of Profitability, Firm Size and Growth Opportunity On The Value of Manufacturing Companies Listed On The Indonesia Stock Exchange In 2017-2020

This study discusses the effect of profitability, firm size and growth opportunity on firm value in Food and Beverage Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange in 2017-2020. Data processing in this research is using multiple regression model. The source of data in this study is secondary data obtained indirectly from data obtained from the company's annual financial report published on the Indonesia Stock Exchange website. The sample taken in this study used a purposive sampling technique. The results of the analysis of this study indicate that the profitability (ROA) variable partially has a significant effect on firm value (PBV) with a significance (0.016 <0.05). Firm size variable partially has no effect on firm value (PBV) with a significance (0.164 > 0.05, growth opportunity variable partially has a significant effect on firm value (PBV) with a significance (0.000 < 0.05). Simultaneous f test results profitability, firm size and growth opportunity simultaneously affect firm value (significantly 0.000 < 0.05).

Pengaruh Fraud Hexagon Terhadap Manajemen Laba Berdasarkan M-score yang Dimodifikasi

This research aims to examine the effect of the fraud hexagon on earnings management using a modified M-score. The modified M-score formula in this study comes from research by Narsa et al (2023) using five original ratios and four additional ratios. This research is causality research with a quantitative approach. The data in this research comes from company annual reports obtained from the Indonesian Stock Exchange website and the websites of the companies studied. This research uses a purposive sampling technique and the sample in this research consists of 39 manufacturing companies (food & beverage subsector, chemical subsector, and metals and similar subsector) in 2020-2022. To test the hypothesis, this research uses the logistic regression analysis method. The results of this research show that ineffective monitoring has a positive and significant effect on earnings management. while financial stability, change in auditor, change in director, frequent number of CEO pictures, and projects with government have no effect on earnings management.

INDCOMP: A Shiny App for Open Data Repository of the Performance of an Indonesian Company Listed at the Indonesia Stock Exchange

Investors, practitioners, and stock researchers highly need data related to financial performance to predict a company's financial health condition, which is used as a basis to consider investing in it. The Indonesia Stock Exchange (IDX) website provides reports on the company's financial performance. Unfortunately, the company’s financial data found on the IDX website are in PDF format, and researchers must download them one by one, which takes a long time. This study presents a website-based application, named Indonesia Company Performance (INDCOMP), built using the R programming language and involving various R packages and frameworks to assist investors, practitioners, and stock researchers in studying the financial performance of companies. This application can help users quickly access the financial performance data of various companies, present financial performance data in data tables, and perform data visualizations as well as statistical analyses.

Effect of Debt Policy And Company Performance With Leverage As Moderation

This research aims to determine the role of leverage as a moderating variable in the influence of debt policy on company performance. This research uses quantitative methods with secondary data obtained from the Indonesia Stock Exchange website and the company's official website. The population in this research is food and beverage companies in the consumer goods industry sector listed on the Indonesia Stock Exchange in 2019-2021. Panel data regression analysis testing uses STATA 17. The analytical method used is multiple regression analysis (MRA). The results of this research show that: 1) Debt policy has a negative effect on company performance. Excessive use of debt causes an increase in the company's risk in generating profits and will cause shareholders to doubt the company's ability to pay the debt that has been given. This shows that the higher the debt a company has with a large amount of debt, the higher the company's risk will be and this will result in decreased financial performance, because higher debt will cause financial distress. 2) Leverage weakens the relationship between debt policy and company performance. Leverage weakens the influence of the negative relationship, which shows that the DOL functions well in mitigating the negative impact of debt policy on company performance so that the negative influence of debt policy on company performance can be reduced or weakened