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PENGARUH LIKUIDITAS DAN LEVERAGE TERHADAP NILAI PERUSAHAAN PADA PT ADHI KARYA (PERSERO), TBK YANG TERDAFTAR DI BURSA EFEK INDONESIA Suci, Indah Tri; Siahaan, Yansen; efendi, Efendi; Susanti, Elly
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 5 No. 1 (2017): Juni
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (222.29 KB) | DOI: 10.37403/sultanist.v5i1.86

Abstract

Tujuan dari penelitian ini adalah untuk mengetahui gambaran likuiditas, leverage, dan nilai perusahaan serta pengaruh likuiditas dan leverage terhadap nilai perusahaan pada PT Adhi Karya (Persero), Tbk yang terdaftar di Bursa Efek Indonesia secara simultan dan parsial. Metode analisis yang digunakan dalam penelitian ini adalah metode analisis deskriptif kualitatif dan analisis deskriptif kuantitatif. Objek penelitian ini adalah PT Adhi Karya (Persero), Tbk yang terdaftar di Bursa Efek Indonesia tahun 2011-2015. Metode yang digunakan untuk analisis data dalam penelitian ini adalah uji asumsi klasik, analisis regresi linier berganda, koefisien korelasi, koefisien determinasi, dan uji hipotesis (uji F dan uji t). Pengujian dilakukan dengan menggunakan bantuan program software SPSS Statistics 19.Hasil analisa dari regresi linier berganda yaitu: Ŷ = -12,140 + 7,064 X1 + 1,150 X2.Hal ini menunjukkan bahwa likuiditas dan leveragemempunyai pengaruh positif terhadap nilai perusahaan. Hasil kolerasi yaitu r = 0,755 artinya terdapat hubungan yang kuat antara likuiditas dan leverage dengan nilai perusahaan. Dari koefisien determinasi nilai perusahaan dapat dijelaskan oleh likuiditas dan leverage sebesar 57,3% dan sisanya 42,7% dijelaskan oleh variabel lain yang tidak dijelaskan dalam penelitian ini. Hipotesis penelitian H0 ditolak dengan tingkat signifikansi 0,001 lebih kecil dari 5% atau 0,001 < 0,05, artinya likuiditas dan leverageberpengaruh signifikan terhadap nilai perusahaan pada PT Adhi Karya (Persero), Tbk yang terdaftar di Bursa Efek Indonesia.
PENGARUH LIKUIDITAS DAN LEVERAGE TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUB SEKTOR PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA Hayati, Rahma; Siahaan, Yansen; Tarigan, parman; Supitriyani, Supitriyani
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 5 No. 2 (2017): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (143.084 KB) | DOI: 10.37403/sultanist.v5i2.97

Abstract

Tujuan dari penelitian ini adalah: Untuk mengetahui gambaran likuiditas,leverage, dan nilai perusahaan serta pengaruh likuiditas dan leverage terhadap nilai perusahaan pada perusahaan sub sektor property dan real estate yang terdaftar di Bursa Efek Indonesia. Desain penelitian yang digunakan adalah penelitian kepustakaan. Teknik analisis data yang digunakan dalam penelitian ini seperti: uji asumsi klasik, analisis deskriptif kualitatif dan kuantitatif. Hasil persamaan regresi linier berganda pada penelitian ini adalah Ŷ = 2,167 + 0,166X1 + 0,078X2. Hasil analisis koefisien korelasi yaitu nilai r sebesar 0,311 dan nilai R sebesar 0,097. Hasil uji F menunjukkan bahwa Fhitung<Ftabel atau 2,521<3,20dan tingkat signifikansi 0,091>0,05 berarti likuiditas dan leverage berpengaruh tidak signifikan terhadap nilai perusahaan pada perusahaan sub sektor property dan real estate yang terdaftar di Bursa Efek Indonesia. Hasil uji t untuk likuiditas thitung<ttabel (-1,998<2,01174) atau Sig.>alpha (0,052>0,05), berarti likuiditas berpengaruh tidak signifikan terhadap nilai perusahaan pada perusahaan sub sektor property dan real estate yang terdaftar di Bursa Efek Indonesia. Hasil uji t untuk leverage thitung<ttabel (0,232<2,01174) atau Sig.>alpha (0,818>0,05), berarti leverage berpengaruh tidak signifikan terhadap nilai perusahaan pada perusahaan sub sektor property dan real estate yang terdaftar di Bursa Efek Indonesia.
PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN LEVERAGE SEBAGAI VARIABEL MODERATING PADA PERUSAHAAN SUB SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA Siallagan, Maria Emas P.; Siahaan, Yansen; Jubi, Jubi; Inrawan, Ady
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 6 No. 2 (2018): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (307.163 KB) | DOI: 10.37403/sultanist.v6i2.121

Abstract

The purposes of this research are to know the description of profitability, firm value, and leverage, to determine the effect of profitability on the value and to determine leverage ability to moderated profitability reletionships with firm value  at  Farmasi Sub-Sector Company listed on the Indonesia Stock Exchange. The research was conducted with qualitative descriptive analysis method and quantitative descriptive analysis. The data are collected  by using documentation method. The analysis technique used simple linear regression, moderation regression, correlation coefficient, determination coefficient and hypothesis test. Data are analysed with the help of SPSS version 20.          The results of this research be summarized as follows: 1. Average ROE fluctuated and tended to decline, the average DER fluctuated and tended to increase, and the average PBV fluctuated and tended to increase. 2. The results of simple linear regression test showed that profitability has negative effect on firm value. 3. The results of the moderation regression test showed that leverage weakens the profitability relationship with the value. 4. The results of testing the first hypothesis can be concluded that profitability has a negative effect not significant on firm value. 5. The results of the second hypothesis test can be concluded that leverage is  able to moderate the relationship between profitability and firm value.The research suggest that companies increase sales to optimize profits, use debt to increase company productivity, control the existing management of the company and distribute dividend to shareholders.
PENGARUH LIKUIDITAS, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUB SEKTOR KERAMIK PORSELIN DAN KACA YANG TERDAFTAR DI BURSA EFEK INDONESIA Br Nainggolan, Jenny Frida; Siahaan, Yansen; Jubi, Jubi; Inrawan, Ady
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 6 No. 2 (2018): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (177.216 KB) | DOI: 10.37403/sultanist.v6i2.122

Abstract

The purpose of this study is 1. To determine the liquidity, company size, profitability and value of the company in the Ceramic, Porcelain and Glass Sub-Sector Companies listed on the Indonesia Stock Exchange. 2. To determine the effect of liquidity, company size, profitability and firm value on the Ceramic, Porcelain and Glass Sub-Sector Companies listed on the Indonesia Stock Exchange both simultaneously and partially. This research was conducted using quantitative descriptive analysis and quantitative descriptive analysis. The object of the research is the Ceramic, Porcelain and Glass Sub-Sector Company listed on the Indonesia Stock Exchange. Data collection is done by documentation method. The analysis technique used is the classical assumption test, multiple linear regression analysis correlation coefficient, determination coefficient, hypothesis testing. This analysis was carried out using the IBM SPSS Statistic Program version 21.0.The results of this research can be concluded as follows: 1. Overall average value of Current Ratio (CR) fluctuates tends to increase 2. overall the average value of size has fluctuated tends to increase. 3. overall the average value of Return on Assets (ROA) fluctuates but tends to decrease. 4. F test found that simultaneously the magnitude of Fcount> Ftable of H0 is rejected, meaning that liquidity, firm size, and profitability have no significant effect on the value of the company in the Ceramic, Porcelain and Glass Sub-Sector Company listed on the Indonesia Stock Exchange in 2013-2017 .
PENGARUH LIKUIDITAS, SOLVABILITAS DAN PROFITABILITAS TERHADAP HARGA SAHAM PADA PERUSAHAAN YANG TERDAFTAR DALAM INDEKS LQ 45 Tiya, Tri Ade; Siahaan, Yansen; Jubi, Jubi; Manurung, Sepbeariska
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 6 No. 2 (2018): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (326.046 KB) | DOI: 10.37403/sultanist.v6i2.123

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The purpose of this research is to describe liquidity,solvability, profitability and stock pricesand to know influence of liquidity, solvability and profitabilityto stock prices at the Companieslisted in LQ 45 Index.The research was using qualitative desriptive analysis and quantitative desriptive analysis. The data collection was using documentation. The analysis techniques used are multiple linear regression, correlation coeffient, coefficient of determination, hypothesis testing.The result of regression are liquidity, solvability and profitability have a negative effect on stock prices at the Companies listed in the LQ 45 Index.The results analysis of the correlation coefficient and determination coefficient is known that there is a medium relationship between liquidity, solvability and profitability of stock prices and stock prices are more influenced by other factors not examined in this research. The results of F testit is known that liquidity, solvability and profitability have a significant effect on stock prices at the Companies listed in the LQ 45 Index simultaneously. The results of the t test it is known that partially liquidity and solvability have a significant effect and profitability has no significant effect on stock prices at the Companies listed in the LQ 45 Index.The suggestion of this research is that the company should manage current assets optimally to increase revenue, control the use of debt, and distribute dividends to investors so that investors are interested in investing capital in the company.
EFEKTIVITAS PENGELOLAAN ALOKASI DANA DESA DALAM MENINGKATKAN PEMBANGUNAN FISIK DESA KARANG SARI KECAMATAN GUNUNG MALIGAS KABUPATEN SIMALUNGUN Prihana, Noni; Siahaan, Yansen; Inrawan, Ady; Nainggolan, Christine Dewi
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 6 No. 2 (2018): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (175.389 KB) | DOI: 10.37403/sultanist.v6i2.124

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AbstractThe objectives of this research are: 1. To find out the general description of the Village Fund Allocation management in the physical development of Karang Sari Village, Gunung Maligas District, Simalungun Regency. 2. To determine the effectiveness of the management of Village Fund Allocation in the physical development of Karang Sari Village, Gunung Maligas District, Simalungun Regency.This research uses field research and library research. Data collection in this research were questionnaires and documentation. Respondents in this research were several Village Consultative Bodies and village communities who understood the allocation of village funds in Karang Sari Village, Gunung Maligas District, Simalungun Regency. The analysis technique used is qualitative descriptive analysis and inductive analysis.The results of this research can be concluded that the physical development of Karang Sari Village, Gunung Maligas District, Simalungun District has been said to be effective. The physical development of Karang Sari Village has been carried out based on mutual agreement and deliberation. As well, Management of village fund allocation has been based on the principles of planning, implementation and supervision.The suggestion of the results of this research that the Karang Sari Village Government needs to develop some future development and socialize the allocation of village funds to all levels of society in Karang Sari Village, Gunung Maligas District, Simalungun Regency
ANALISIS STRUKTUR MODAL,PERTUMBUHAN PERUSAHAAN DAN KEBIJAKAN DIVIDEN UNTUK MENINGKATKAN NILAI PERUSAHAAN PADA PT TIMAH (PERSERO), TBK YANG TERDAFTAR DI BURSA EFEK INDONESIA Lestari, Suci; Siahaan, Yansen; Susanti, Elly; Supitriyani, Supitriyani
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 6 No. 2 (2018): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (185.572 KB) | DOI: 10.37403/sultanist.v6i2.125

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The purpose of this research is 1. To find out the description of capital structure, company growth, and dividend policy to increase the value of the company at PT Timah (Persero), Tbk which are listed on the Indonesia Stock Exchange. 2. To find out the factors that caused the company's value to PT Timah (Persero), Tbk to decline. This research was conducted using qualitative descriptive techniques, comparative analysis techniques and inductive analysis techniques. In this research the type of data used are qualitative data and quantitative data. In this research the data source used is secondary data. The technique data collection used is documentation technique. From the results of this study can be concluded that 1. The average capital structure tends to increase, company growth tends to decrease, dividend policy and company value tend to decrease. 2. capital structure increases due to increased long-term debt but not followed by company value, company growth decreases due to increased inventory but not followed by firm value, dividend policy decreases due to retained earnings more than profit distributed to investor as dividend.The results of the study suggest that companies should reduce the use of long-term debt in carrying out their company operations and improve asset management and increase dividend policy to attract the attention of potential investors to invest in the company
PENGARUH LIKUIDITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING PADA PT DHARMA SAMUDERA FISHING INDUSTRIES, Tbk YANG TERDAFTAR DI BURSA EFEK INDONESIA Velita, Septiany; Siahaan, Yansen; Jubi, Jubi; Ervina, Nelly
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 7 No. 1 (2019): Juni
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (318.655 KB) | DOI: 10.37403/sultanist.v7i1.141

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The purpose of the research is to find description of liquidity, capital structure, profitability, and firm value, the influence of liquidity and capital structure to the profitability, and the influence of profitability to the firm value at PT Dharma Samudera Fishing Industries, Tbk listed in Indonesia Stock Exchange. The research used descriptive qualitative analysis and descriptive quantitative analysis. Data collection is done by using documentation method. The analysis technique used is the classical assumption test, multiple linear regression analysis, simple linear regression analysis, correlation coefficient, determination coefficient, and hypotesis testing. The data analysis was carried out using the IBM SPSS Statistic program version 20.The result of this research show that 1. Based on the first hypotesis testing, liquidity and capital structure have a significant effect to profitability. 2. Based on the second hypotesis testing, liquidity has no significant effect, but capital structure has significant effect to profitability. 3. Based on the third hypotesis testing, profitability has significant effect to firm value. The suggestions of this research is that company should control the liquid assets to increase profit, manage the long term debt, increase sales, and minimize the operational expenses. Furthermore, for the next researchers needs to research the other factor that effect the firm value. Keywords: Liquidity, Capital Structure, Profitability, and Firm Value.
DAMPAK STRUKTUR MODAL DAN STRUKTUR ASET TERHADAP NILAI PERUSAHAAN PADA PT MERCK, Tbk YANG TERDAFTAR DI BURSA EFEK INDONESIA Misdayana, Alvia; Siahaan, Yansen; Nainggolan, Christine Dewi; Manurung, Sepbeariska
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 7 No. 2 (2019): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/sultanist.v7i2.155

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Berbagai cara dilakukan para manajer untuk menghadapi persaingan bisnis, salah satunya adalah dengan meningkatkan nilai perusahaan. Beberapa faktor yang mempengaruhi nilai perusahaan suatu perusahaan seperti struktur modal dan struktur aset. Tujuan penelitian ini adalah untuk mengetahui gambaran struktur modal, struktur aset dan nilai perusahaan pada PT Merck, Tbk yang terdaftar di Bursa Efek Indonesia, dan untuk mengetahui pengaruh struktur modal dan struktur aset terhadap nilai perusahaan pada ada PT Merck, Tbk yang terdaftar di Bursa Efek Indonesia baik secara simultan dan parsial. Penelitian ini digunakan dengan menggunakan analisis deskriptif kualitatif dan analisis deskriptif kuantitatif. Objek penelitian ini adalah laporan keuangan PT Merck, Tbk yang terdaftar di Bursa Efek Indonesia. Pengumpulan data dilakukan dengan metode dokumentasi. Teknik analisis yang digunakan adalah uji asumsi klasik, analisis regresi linier berganda, koefisien korelasi dan koefisien determinasi dan uji hipotesis. Hasill penelitian ini dapat disimpulkan bahwa nilai rata-rata struktur modal mengalami fluktuasi dan cenderung meningkat, nilai rata-rata struktur aset mengalami fluktuasi dan cenderung meningkat, nilai rata-rata nilai perusahaan mengalami fluktuasi dan cenderung menurun, hasil pengujian regresi linear struktur modal dan struktur aset berpengaruh negatif terhadap nilai perusahaan pada PT Merck, Tbk yang terdaftar di Bursa Efek Indonesia, hasil koefisien korelasi dan koefisien determinasi diperoleh nilai korelasi atau hubungan yang sangat kuat antara struktur modal dan struktur aset dengan nilai perusahaan, hasil uji F diperoleh bahwa struktur modal dan struktur aset berpengaruh signifikan terhadap nilai perusahaan, hasil uji t struktur modal dan struktur aset berpengaruh signifikan terhadap nilai perusahaan secara parsial
THE INFLUENCE OF DIGITAL LITERATURE, CREATIVITY, AND LEARNING MOTIVATION ERA SOCIETY 5.0 ON STUDENT LEARNING OUTCOMES KALAM KUDUS SD CHRISTIAN SD PEMATANG SIANTAR REVIEW FROM A PARENT'S PERSPECTIVE (CASE STUDY OF SCIENCE CLASS V SD) Mariani, Mariani; Butarbutar, Marisi; Siahaan, Yansen; Silalahi, Marto; Herman, Herman
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 10 No. 2 (2022)
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/sultanist.v10i2.443

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Tujuan penelitian ini untuk mengetahui: 1. Gambaran literasi digital, kreativitas, motivasi belajar, dan hasil belajar siswa kelas V pada SD Kristen Kalam Kudus Pematangsiantrar pada mata pelajaran IPA. 2. Pengaruh literasi digital, kreativitas, dan motivasi belajar terhadap hasil belajar siswa kelas V pada SD Kristen Kalam Kudus Pematangsiantar pada mata pelajaran IPA baik secara simultan maupun parsial. Penelitian ini dilakukan dengan desain penelitian kepustakaan dan lapangan. Populasi pada penelitian ini adalah seluruh siswa kelas V SD sebanyak 138 orang. Jenis data yang digunakan adalah data kualitatif dan data kuantitatif. Sumber data yang digunakan adalah data primer dan data sekunder. Pengumpulan data dilakukan dengan menggunakan metode kuesioner, wawancara, dan dokumentasi. Uji instrumen yang dilakukan adalah uji validitas dan uji reliabilitas. Teknik analisis data yang digunakan adalah uji normalitas, analisis deskriptif kualitatif, dan analisis deskriptif kuantitatif. Hasil penelitian dapat disimpulkan: 1. Literasi digital, kreativitas, motivasi belajar, dan hasil belajar dapat dikatakan baik. 2. Hasil analisis regresi terdapat pengaruh positif antara literasi digital, kreativitas, dan motivasi belajar terhadap hasil belajar baik secara simultan maupun parsial, 3. Hasil korelasi terdapat hubungan yang sangat kuat antara literasi digital, kreativitas, dan motivasi belajar terhadap hasil belajar. 4. Hasil pengujian hipotesis yaitu uji F dan uji t menyatakan H0 ditolak, artinya literasi digital, kreativitas dan motivasi belajar berpengaruh positif dan signifikan terhadap hasil belajar.  This research aims to recognize: 1. An overview of digital literacy, creativity, learning motivation, and learning outcomes of fifth-grade students at the Christian Elementary School of Kalam Kudus Pematangsiantrar in a science subject. 2. The influence of digital literacy, creativity, and learning motivation on the learning outcomes of fifth-grade students at the Kalam Kudus Christian Elementary School Pematangsiantar on science, either simultaneously or partially. This research was conducted with a literature and field research design. This study's population was all fifth-grade elementary school students, as many as 138 people. The types of data used are qualitative and quantitative data. Sources of data used are primary data and secondary data. The data was collected using questionnaires, interviews, and documentation methods. The instrument test carried out is a validity test and a reliability test. The data analysis techniques used were normality test, qualitative descriptive analysis, and quantitative descriptive analysis. The study results can be concluded: 1. Digital literacy, creativity, learning motivation, and learning outcomes are categorized in a good category. 2. The regression analysis results positively influence digital literacy, creativity, and learning motivation on learning outcomes both simultaneously and partially, 3. The correlation results have a very strong relationship between digital literacy, creativity, and learning motivation on learning outcomes. 4. The results of hypothesis testing, namely the F test and t-test, state that H0 was rejected, it means that digital literacy, creativity and learning motivation have a positive and significant effect on learning outcomes.