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Unusual Market Activity Impact on Abnormal Liquidity Risk, Abnormal Volatility, and Abnormal Return in Indonesia Capital Market Famy Kurnia Putri; Maria Christina Pasaribu; Dewi Hanggraeni
Jurnal Pendidikan Indonesia Vol. 6 No. 7 (2025): Jurnal Pendidikan Indonesia
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/japendi.v6i7.7711

Abstract

This study aims to analyze the influence of the management control system consisting of enabling control and constraining control on organizational performance and management innovation in heavy equipment and truck companies operating in North Kalimantan. Management control systems that involve enabling controls that encourage organizational creativity and development, as well as constraining controls that provide constraints to ensure efficient operations, are analyzed to see their impact on management innovation and organizational performance. This study uses a quantitative descriptive approach by collecting primary data through a survey of 57 supervisors in 10 relevant companies. The data was analyzed using the Structural Equation Modeling (SEM) method with PLS 4 software. The results of the study show that enabling control has a significant positive influence on organizational performance, while constraining control, both through a limitation system and diagnostic control, has a negative effect on organizational performance, although the diagnostic control system plays a positive role in encouraging management innovation. These findings indicate that to improve organizational performance, companies need to make more intensive use of enabling controls, while considering the implementation of diagnostic control systems that can support innovation
The Impact of Pre-Trade Transparency on Market Quality and Retail Participation in the Pre-Opening Session of the Indonesia Stock Exchange Famy Kurnia Putri; Rofikoh Rokhim
Eduvest - Journal of Universal Studies Vol. 5 No. 8 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i8.51242

Abstract

This paper examines the impact of enhanced pre-trade transparency on market quality during the pre-opening session of the Indonesia Stock Exchange (IDX) in the pre and post period of enhanced pre-trade transparency starting from March, 25th 2024. Pre-trade transparency refers to the disclosure of order prices and volumes prior to transaction execution, a crucial factor in market efficiency and price discovery. Utilizing empirical data from LQ45 index constituent over the period of October 2023 to September 2024, this paper examines the effects of enhanced pre-trade transparency on market quality, such as bid-ask spread, market depth, and overnight volatility. Based on multiple linear regression analysis, the findings reveal that increased pre-trade transparency significantly narrows the bid-ask spread, enhances market depth, and boosts retail investor participation. However, it also contributes to an increase in overnight volatility.