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All Journal Jurnal Manajemen Terapan dan Keuangan JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi) Jurnal ULTIMA InfoSys Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan JIKA: Jurnal Ilmu Keuangan dan Perbankan Economics and Finance in Indonesia Perspektif Komunikasi; Jurnal Ilmu Komunikasi dan Komunikasi Bisnis Jurnal Muara Ilmu Ekonomi dan Bisnis Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences IIJSE Proceeding of International Conference on Entrepreneurship (IConEnt)
Hulu, Edison
Universitas Pelita Harapan
Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Social Sciences

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Implementation of Beaver Dichotomy to Differentiate Good and Distressed Firms in Indonesia Budhidharma, Valentino; Sembel, Roy; Hulu, Edison; Ugut, Gracia S.
Proceedings of the International Conference on Entrepreneurship (IConEnt) Vol. 3 (2023): Proceedings of the 3rd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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Abstract

The purpose of this study is to determine factors/variables that can differentiate the characteristics of distressed and good firms and propose a new model to explain financial distress in Indonesia. There have been many theories, variables, and estimation methods used by previous studies about early warning signs of financial distress. Determining factors of good and distressed firms uses Beaver's (1968) methodology. The samples used are most sectors in Indonesia’s Stock Exchange from 2005 to 2020, excluding the financial sector. The characteristic results show that good firms have higher NITA, GPTA, CTA, QATA, CATA, WCTA, CCL, RETA, and EBTCL, while distressed firms are better on CFTS, CFTA, CFNW, CFTD, NITS, NINW, NITD, ROE, CLTA, LTLTA, CLLTLTA, QACL, CR, CTS, ITS, CATS, WCTS, NWTS, and TATS.
VALUATION OF STOCK VALUE WITH RELATIVE VALUATION AND ABSOLUTE VALUATION APPROACH IN BANKING SECTOR AT LQ 45 PERIOD 2015-2020 Ferdinand, Ferry Vincenttius; Hulu, Edison; Ugut, Gracia Shinta S.; Sembel, Roy
ULTIMA InfoSys Vol 15 No 1 (2024): Ultima Infosys : Jurnal Ilmu Sistem Informasi
Publisher : Universitas Multimedia Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31937/si.v15i1.3410

Abstract

Investment in Indonesia during the COVID-19 pandemic increased. One of the significant and good indices in describing the condition of stocks in Indonesia is LQ45. Dlaam LQ45 The largest market capitalists are held by the financial sector Specifically the bank subsector therefore it needs to be further researched regarding these stocks. One of the interesting things is whether these stocks deserve to be considered a good investment instrument. One of the efforts to assess investment instruments is through the valuation stage. The valuation method used there are two, namely relative valuation with price to book value benchmarks and price earnings ratio and absolute valuation with dividend growth model method and some modifications of the model. From the results obtained, the recommendation of the position of the four financial stocks in LQ45 varies depending on the valuation technique used. On this basis, it can be said that it is important to know, know, and ethically the valuation techniques used are appropriate, good, and correct.
LQ45 Stock Index Abnormal Return Reaction to the Covid-19 Pandemic: the Even Study Methodology Solihin, Ikin; Sugiarto, Sugiarto; Ugut, Gracia Shinta S.; Hulu, Edison
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 5 No 1 (2022): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v5i1.2051

Abstract

LQ45 Index stocks are liquid stocks with high market capitalization, have a high trading frequency, growth prospects, and fairly good financial conditions, are not volatile and have been objectively selected by the IDX. This research aims to determine the abnormal return of LQ45 Stock Index to the covid-19 pandemic. This research uses even study method with population consisted entirely of daily data from the ten most populous cities in the United States. The result of this study shows that there are significant differences in abnormal returns before and after the announcement of the Covid-19 pandemic by WHO. The announcement of this pandemic is responded to as a negative signal by investors so that information regarding the announcement of the Covid-19 pandemic by the WHO is responded to early and at the time of launching the information no longer had any effect because the prices had moved towards equilibrium. The future research that extend the research time period and include other external factors such as lockdown policies or inflation is needed as the limitation in this research.
Co-Authors Alamsyah, Virza Utama Arianto, Radityo Fajar Budhidharma, Valentino Ferdinand, Ferry Vincenttius Gracia S Ugut Gracia Shinta S. Ugut Harry Santoso Hendrawan Supratikno Hermansjah, Reynaldi Ikin Solihin Ikin Solihin Jaunanda, Meiliana nugroho, vina christina Poltak Sinaga Poltak Sinaga, Poltak Roy Sembel Roy Sembel Silalahi, Derisman Solihin, Ikin Sugiarto S Sugiarto Sugiarto Sugiarto Sugiarto Valentino Budhidharma