Return : Study of Management, Economic and Bussines最新文献

{"title":"Evaluating The Impact of ESG Integration on The Financial Performance of Pertamina Geothermal Energy: A Sustainable Growth Perspective","authors":"Tasya Ravida Ayu Padantya, Oktofa Yudha Sudrajad","doi":"10.57096/return.v3i7.255","DOIUrl":"https://doi.org/10.57096/return.v3i7.255","url":null,"abstract":"The global energy landscape is undergoing a significant transformation driven by the urgent need to mitigate climate change, increased regulatory pressures, and rising stakeholder expectations. This study aims to explore the impact of ESG integration on the financial performance of Pertamina Geothermal Energy (PGE), a subsidiary of PT Pertamina (Persero), which plays an important role in the energy transition in Indonesia. This study uses secondary data from financial statements, prospectuses, annual reports, and information from the PGE website. In addition, historical data on the stock prices of power generation companies and comparative analysis of the industry are used. The analysis was carried out using the Discounted Cash Flow (DCF) method to calculate the intrinsic value of the company, as well as an assessment of sustainability policies, community engagement programs, and improvement of corporate governance. The results show that ESG integration has a positive impact on PGE's sales growth, profitability, and return on investment. Improved sustainability policies, community engagement programs, and corporate governance contribute significantly to better financial performance. The integration of ESG principles in PGE not only improves financial performance but also shows that sustainability and profitability can go hand in hand. These findings provide valuable insights for the broader energy sector, suggesting that ESG integration can drive positive change and facilitate an era where financial growth and environmental responsibility complement each other.","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"115 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141811795","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financial Performance Analysis And Stock Valuation of PT Kimia Farma Tbk.","authors":"Wiranti Wiranti, Oktofa Yudha Sudrajad","doi":"10.57096/return.v3i7.254","DOIUrl":"https://doi.org/10.57096/return.v3i7.254","url":null,"abstract":"Laparoscopic cholecystectomy is the surgical method of choice for gallbladder removal. Enhanced Recovery After Surgery (ERAS) is a program designed to accelerate patient recovery after surgery by reducing length of stay, pain, and accelerating initial mobilization. This study aims to evaluate the effectiveness of the ERAS nursing program on pain levels, initial mobilization, and length of hospitalization of post-laparoscopic cholecystectomy patients at Pluit Hospital Jakarta. A total of 65 patients undergoing laparoscopic cholecystectomy were sampled, with 40 patients in the ERAS group and 25 patients in the control group. Data were collected using questionnaires and observation sheets, and analyzed using the ANCOVA test. The results showed that the ERAS group had lower numerical scale scores for pain (1.87 vs 5.72, p < 0.001), earlier mobilization (3.45 hours vs 9.12 hours, p < 0.001), and shorter length of stay (27.13 hours vs 74.84 hours, p < 0.001) compared to the control group. The implementation of the ERAS nursing program has proven to be effective in reducing pain levels, accelerating initial mobilization, and reducing the length of stay of patients after laparoscopic cholecystectomy at Pluit Hospital Jakarta. This study supports the use of ERAS protocol to improve the quality of surgical care in Indonesia.","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"29 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141813814","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of Training and Work Motivation On Employee Performance at Bank Sumsel Babel","authors":"Ryanza Arief Hidayah, Isnurhadi Isnurhadi, M. Yusuf, Marlina Widiyanti","doi":"10.57096/return.v3i7.251","DOIUrl":"https://doi.org/10.57096/return.v3i7.251","url":null,"abstract":"This study was conducted with the aim of determining the influence of training and work motivation on employee performance at Bank Sumsel Babel. The population in this study is all employees at Bank Sumsel Babel in 2023 as many as 3,312 employees. Based on calculations using the Slovin formula, the sample that became respondents in this study was as many as 120 employees of Bank Sumsel Babel. The results of multiple linear regression analysis show that training and work motivation have a positive and significant effect on employee performance. Training, it is hoped that the Bank of South Sumatra Babel in providing training can adjust to what employees need in supporting their work. Work motivation, it is hoped that the boss can motivate his work team to be able to build good relationships and support each other in order to provide work results that are in accordance with the company's expectations.","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"21 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141814554","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of Capital Structure On Company Value with Profitability and Dividend Policy as A Mediating Variable","authors":"A. A. A. Tirtamara, Luh Gede, Sri Artini","doi":"10.57096/return.v3i7.247","DOIUrl":"https://doi.org/10.57096/return.v3i7.247","url":null,"abstract":"The theory of capital structure with taxes is put forward by stating that the value of a company increases as the total debt increases. The use of debt in the company's capital structure, on the other hand, also incurs costs that can reduce the value of the company, so    Modigliani and Miller (1963) the trade-off theory reveals that there is a so-called optimal capital structure. This study aims to test and analyze the influence of capital structure, profitability, and dividend policy on company value, both directly and indirectly. The population of this study is pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange for the period 2008-2022. The sampling technique used was the purposive sampling technique  and samples were obtained from 6 companies with a total of 90 years of observation. This study uses secondary data in the form of annual financial statements of pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange for the 2008-2022 period. The data analysis technique in the study uses the dynamic panel method of the system generalized method of moments (GMM) with the Rstudio application. The results of the analysis provide evidence that capital structure, profitability, and dividend policy have a significant positive effect on the company's value. Capital structure has a significant positive effect on profitability and dividend policy. Capital structure affects the value of the company through profitability as a mediating variable. Capital structure affects the value of the company through dividend policy as a mediating variable. Company management is advised to always maintain an optimal capital structure for the company so that it can increase profitability and dividend distribution so as to increase the company's value. For the next researcher, it is recommended to increase the number of research samples so that the research results can be generalized widely. \u0000 ","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"67 18","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141817832","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of Regional Tax Management at The Regional Finance and Revenue Management Agency (BPKPD) of Cirebon City","authors":"Aurora Nurfitriani, Putri Pebriyanti, Dev Anand","doi":"10.57096/return.v3i7.237","DOIUrl":"https://doi.org/10.57096/return.v3i7.237","url":null,"abstract":"This research uses descriptive methods and qualitative approaches. The purpose of this study is to know, understand, and analyze the practice of the local tax implementation process as well as the obstacles that occur and efforts made in achieving regional tax management targets at the Regional Finance and Revenue Management Agency (BPKPD) of Cirebon City. Data collection techniques are carried out by means of interviews with the field of Regional Revenue Planning, Development and Evaluation (PPEPD). By showing the results that, in practice, BPKPD has been in accordance with the implementation of tax management based on applicable regulations. However, there are still decreases in local taxes including billboard tax, street lighting tax, underground water tax, and PBB-P2. Thus, BPKPD needs to make efforts in optimizing its regional tax management. The efforts made are; Conduct socialization for taxpayers in fulfilling their obligations in paying taxes owed. In addition, conducting a supervision system (tapping box) as an effort to report taxpayers' business turnover. Efforts were made, to fulfill the utilization for the facilities and infrastructure of the City of Cirebon. \u0000 ","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"20 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141817416","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Design Transformation of The Industrial Relations Peace : Towards A Prosperous, Harmonious and Fair Work Relations Model In The Karawang Industry","authors":"Fachmie Fardan Trikora Putra","doi":"10.57096/return.v3i7.249","DOIUrl":"https://doi.org/10.57096/return.v3i7.249","url":null,"abstract":"The minimum wage is one of the national strategic policies whose regulations are determined by the central government through laws and derivative regulations. The business problem faced by business actors in Karawang is the disruption of business operations due to the freeze that occurred during the minimum wage period at the district level. Even though discovery is a right as an Indonesian citizen, this research aims to initiate an industrial relations peace strategy for companies in Karawang to be able to carry out promotional, preventive, overcoming, and rehabilitative steps. This research focuses on the period 2019–2024 and analyzes the district minimum wage policy, which is accommodated by the Apindo Karawang Regency Leadership Council. The research methods used include literature studies, policy analysis, and interviews with relevant stakeholders such as business leaders, human resources managers, Government and Union Leaders . The results of the analysis highlight significant developments in the industrial relations paradigm in Karawang by identifying factors that influence welfare, harmony, and justice in work relations. The findings of this research provide in-depth insight into the impact of implementing minimum wages on the dynamics of industrial relations in companies in Karawang. This research provides a positive contribution to business as well as a better understanding of the strategies that can be used to achieve prosperous, harmonious, and fair working relationships in an industrial environment. It is hoped that the policy implications resulting from this thesis can provide guidance for stakeholders in developing steps that support the positive development of industrial relations in Karawang.","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"26 15","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141816852","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of Intellectual Capital on Stock Return Through Financial Performance","authors":"Nadia Berliana Safitri, Riska Nisrina, Adisti Wulan Suci, Mada Purwanto Wahyu Nugroho","doi":"10.57096/return.v3i7.238","DOIUrl":"https://doi.org/10.57096/return.v3i7.238","url":null,"abstract":"In the era of globalization and increasingly fierce competition, companies are required to increase their competitiveness by optimally utilizing the assets they own, one of the assets that is increasingly important for companies is intellectual capital. The purpose of this study is to examine whether intellectual capital affects stock returns through financial performance, which has the aim of knowing the influence of intellectual capital on financial performance, the influence of intellectual capital on stock returns, the effect of stock returns on financial performance, and whether or not financial performance mediates the relationship between intellectual capital and stock returns. A multiple linear regression analysis model with path analysis is an analysis method used in this study that aims to test whether there is a direct or indirect influence between independent, dependent, and intervening variables. Data testing tool using SPPS24 software. The population object in this study is companies listed on the IDX Indexes LQ45 for the 2018-2022 period; with the purposive sampling method, the samples collected are 33 companies with a total of 45 companies' observation data. The results showed that intellectual capital affects financial performance. These results show that the effect of financial performance on stock returns is statistically significant. The indirect influence of the statistical analysis results is greater than the direct influence of intellectual capital on stock returns. Thus, financial performance mediates the influence of intellectual capital on stock returns. This result explains that the company must utilize and maintain intellectual capital, and sound financial performance affects the stock returns received by investors, which later show good company value. Companies must utilize and maintain their intellectual capital because good financial performance, which results from the utilization of intellectual capital, will increase stock returns and reflect good company value in the eyes of investors.\u0000 ","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"17 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141691378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Can Demand Forecasting Help Supply Chain? Evidence from Beer Distribution Game","authors":"Nengah Widiangga Gautama, Andi Harmoko Arifin","doi":"10.57096/return.v3i4.221","DOIUrl":"https://doi.org/10.57096/return.v3i4.221","url":null,"abstract":"One of complex process known nowadays which involves production, delivery and services to consumers is supply chain. Supply chain often can be simplified and analyzed with simulations like Beer Distribution Game. In this research, we use an extended version of Beer Distribution Game, built by AnyLogic, and equipped with additional feature such as information sharing. This research uses a simulation experiment method, and from the experiment’s result we draw a conclusion based on the effect of SMA forecasting. It is shown that by adding SMA forecasting only at the Retailer unit, does not conclusively reduce the BDG’s Total Cost","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"5 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140974152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Implementation Of Value Chain Holistic Model Of Ulos Weaving Fabric Creative Industry","authors":"Dameria Naibaho","doi":"10.57096/return.v3i3.224","DOIUrl":"https://doi.org/10.57096/return.v3i3.224","url":null,"abstract":"This research has a long-term goal to increase the income of stakeholders in the us weaving fabric industry in North Sumatra and the National Gross Domestic Product in Indonesia. The specific target to be achieved is to improve the concept of a value chain holistic model of the Ulos weaving fabric industry, which will soon be implemented. The methods used in achieving this goal are an experimental study by a value chain holistic model of the Ulos weaving fabric industry using the strength and opportunities strategy. Through a Focus Group Discussion involving MUSRENBANG, KOPERINDAG, City Government, Provincial Government, Ulos Weaving Fabric Manufacturers Group, Weaver Group, and Producers Cooperative, information and data will be collected, which will be grouped into Strengths, Weaknesses, Opportunities, and Threats information. The evaluation of data and information through a SWOT analysis shows the results that the proposed model is good and continues to implement a production and marketing strategy, where the establishment of a production cooperative will strengthen SMEs with a joint commitment of members and will facilitate the capital. The Association of SMEs was formed to produce quality production and standardized prices so as to be able to deal with internal competition properly, which will be able to support the Lake Toba tourist destination as a tourism activity in North Sumatera. Standing for marketing is also needed to support the construction of toll roads along the Lake Toba area through the tourist gateways of Medan and Silangit.","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":" 28","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140993985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Influence of SME Funding and Non-Performing Financing on Indonesia's Economic Growth in The Period 2015-2022","authors":"Fadly Yashari Soumena, Umaima Umaima, Nurwahida Nurwahida, Dwi Resky Yulianti Syam","doi":"10.57096/return.v3i2.219","DOIUrl":"https://doi.org/10.57096/return.v3i2.219","url":null,"abstract":"This research aims to analyze the effect of MSME fund disbursement and non-performing financing (NPF) on Indonesia's economic growth in the 2015-2022 period. The research method used is quantitative with a descriptive approach. The data used comes from secondary data sources, such as the financial statements of the Financial Services Authority (OJK) and the Central Bureau of Statistics. The results showed that partially, the distribution of MSME funds had a positive and significant effect on Indonesia's economic growth. This shows that financial support provided to MSMEs through the distribution of funds makes an important contribution in encouraging better economic growth. However, partially, non-performing financing (NPF) has an insignificant negative effect on economic growth. Although the NPF problem may affect the financial sector, the results of this research show that its impact on overall economic growth is not significant. Simultaneously, MSME disbursement and NPF have a positive and significant influence on Indonesia's economic growth. This result confirms the importance of good management of MSME disbursement and NPF control in supporting sustainable economic growth. The implication of this research is that proper allocation of funds to MSMEs can improve business efficiency and development. In addition, effective handling of the NPF problem can minimize its negative impact on economic growth. Thus, policies that support good disbursement of MSME funds and effective NPF control can contribute to stronger and more sustainable economic growth in Indonesia.","PeriodicalId":402323,"journal":{"name":"Return : Study of Management, Economic and Bussines","volume":"65 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140360270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}