Judul: Capital Structure and Firm Financial Performance in The Transportation and Logistics Industry
Abstrak: Struktur modal merupakan variabel yang menjadi dasar pengambilan keputusan keuangan (Sukamulja 2021) karena pemilihan hutang atau sumber modal mempunyai kelebihan dan kekurangan tersendiri (Sulistio dan Saifi 2017) sehingga struktur modal menjadi pembahasan penting bagi manajemen perusahaan yang berimplikasi pada kinerja keuangan perusahaan, termasuk perusahaan sektor transportasi dan logistik. Perusahaan sektor transportasi dan logistik memiliki peran penting terhadap perekonomian negara. Walaupun begitu, kontribusi perusahaan sektor transportasi dan logistik terhadap Produk Domestik Bruto (PDB) tergolong tidak signifikan berdasarkan data Badan Pusat Statistik (BPS). Hal ini terlihat pada kontribusi perusaaan sektor transportasi dan logisitik yang bernilai 4,24%-5,38% periode 2018-2021. Perusahaan sektor transportasi dan logistik memiliki hal yang menarik diteliti karena terdapat perusahaan-perusahaaan yang memiliki tingkat hutang yang tinggi, tetapi dapat mencatatakan keuntungan, sedangkan terdapat perusahaan yang memiliki tingkat hutang yang rendah, tetapi mencatatakan kerugian. Oleh sebab itu, tujuan dari penelitian ini adalah menganalisis dinamika struktur modal dan kinerja perusahaan serta menganalisis pengaruh struktur modal terhadap kinerja perusahaan pada perusahaan sektor transportasi dan logistik periode 2018-2021. Apalagi, pada tahun 2020, terjadi pandemi COVID-19 yang mempunyai pengaruh signifikan terhadap operasional perusahaan. Penelitian ini menggunakan 18 sampel penelitian dari total 31 perusahaan sektor transportasi dan logitsik. Pengambilan sampel pada penelitian ini menggunakan purposive sampling. Metode analisis yang digunakan adalah analisis deskriptif, Uji Bertanda Wilcoxon, dan analisis regresi data panel secara statis maupun dinamis. Hasil penelitian menunjukkan terdapat perbedaaan yang signifikan pada rerata struktur modal yang dimiliki perusahaan subsektor pengantaran barang dengan penumpang. Rerata struktur modal perusaahn subsektor pengantaran barang dan penumpang tidak terdapat perbedaan signifikan tiap tahun pada periode 2018-2021. Rerata kinerja keuangan menggunakan proksi ROA pada perusahaan subsektor pengantaran barang dan penumpang terdapat perbedaan yang signifikan, tetapi rerata kinerja keuangan menggunakan proksi ROE pada perusahaan susbektor pengantaran barang tidak terdapat perbedaan yang signifikan, sedangkan pada perusahaan subsektor pengantaran penumpang terdapat perbedaaan yang signifikan periode 2018-2021. Hasil penelitian ini juga menyimpulkan bahwa pengaruh struktur modal yang diproksikan tingkat hutang (DAR, STD, dan LTD) berpengaruh negatif terhadap kinerja keuangan, sedangkan penagruh struktur modal yang diproksikan laba ditahan berpengaruh positif terhadap kinerja keuangan pada perusahaan sektor transportasi dan logistik periode 2018-2021., Capital structure is a variable that is the basis for making financial decisions (Sukamulja 2021) because choosing debt or capital sources has its own advantages and disadvantages (Sulistio and Saifi 2017) so that capital structure is an important discussion for company management which has implications for the company's financial performance, including transportation and logistics sector companies. Transportation and logistics sector companies have an important role in the country's economy. Even so, the contribution of companies in the transportation and logistics sector to the Gross Domestic Product (GDP) is classified as insignificant based on data from the Central Statistics Agency (BPS). This can be seen in the contribution of companies in the transportation and logistics sector which is worth 4.24% -5.38% for the 2018-2021 period. Transportation and logistics sector companies have interesting things to study because there are companies that have high debt levels but can record profits, while there are companies that have low debt levels but record losses. Therefore, the purpose of this study is to analyze the
Keyword: Capital structure, Debt Ratio, Earnings Retained, Financial Performance, Transpotation and Logistics Sector

Judul: Analisis struktur modal terhadap kinerja keuangan perusahaan sektor utama yang terdaftar di indeks LQ45 Bursa Efek Indonesia
Abstrak: The main sectors (industries producing raw materials) in Indonesia Stock Exchange consist of agriculture and mining sectors. The number of primary sector companies listed in LQ45 tend to decrease in each period. Companies included into LQ45 are relatively companies with good performance. The proper capital structure policy can optimize the performance of finance companies. This research uses data primary from sector companies 2009-2013 with sample selection purposive sampling technique that is analyzed using Structural Equation Modeling. DAR, DER, and, LDER are the loading factors of latent capital structure. CR, QR, and CTR are the loading factors of latent liquidity. PM, ROA, and ROE are the loading factors of latent profitability. ATO, ITO, and WCTO are the loading factors of latent activity. P/E is a loading factor of latent market value. The results show that capital structure has a positive and significant effect on activity, negative but not significant effect on liquidity, and significant negative effect on profitability, but no effect on market value.
Keyword: Bogor Agricultural University (IPB), profitability, market value, liquidity, capital structure, activity

Judul: Synthesis of Apatite - Chitosan Composite Using Duck Eggshell and Chitosan with Temperature and pH Control
Abstrak: Composite of apatite-chitosan was prepared by using chitosan as polymer matrix. Calcium phosphate was prepared from CaO and (NH4)2HPO4, which the ratio Ca : P had to be 1.67. Chitosan is produced by deacetilase from biopolymer chitin. Duck eggshell (95% CaCO3) as starting material was converted to be calcium oxide (CaO) through calcinations with temperature 1000oC for 5 hours. In-situ and ex-situ methods were prepared from apatite and chitosan (dissolved with acetate acid 2%). Calcium phosphate prepared for bone implantation, but it is too fragile and brittle to be implant into the body. So addition of chitosan can decrease crystalinity and increase mechanic characteristic (tougher). Composite apatite-chitosan was resulted by fast precipitation. Fast precipitation was held in a breaker glass with nitrogen atmosphere, under controlled temperature at 37oC and pH 7, in order to increase amount of hydroxyapatite. Precipitation with CaO which was dropped by (NH4)2HPO4. Hydroxyapatite and chitosan were appearing at samples with in-situ and ex-situ methods which indicating by peak matching of XRD (closed lattice parameter, crystal size), overlapping at FTIR spectra and supporting by SEM picture (homogenous and agglomerated particle). However, it still needs further research to examine biocompatibility osteoconductive degree of sample by in-vivo and in-vitro test.
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