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THE INFLUENCE OF RUPIAH EXCHANGE RATE, FIRM SIZE, LEVERAGE AND LIQUIDITY ON HEDGING DECISIONS Rachmat, Adrianna Syariefur; Kustina, Lisa
Journal of Research in Business, Economics, and Education Vol 1 No 1 (2019): October Edition
Publisher : STIE Kusuma Negara

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Abstract

Companies facing the risk of fluctuations in foreign exchange rates can hedge with derivative instruments such as forward, future, swap and option contracts. The purpose of this study is to determine the effect of exchange rates, firm size, leverage and liquidity on hedging decision making using derivative instruments at state-owned banks listed on the Indonesia Stock Exchange for the period of 2016-2018. The method of determining the sample using purpose sampling technique and obtained 12 samples that meet the criteria and 144 firm-quarter observation. The analysis technique used is regression panel logistics. Based on research results obtained, that if the size of the company increases, the potential for hedging decisions through derivative instruments also increases. As for the level of leverage increases, the potential for hedging decisions through derivative instruments decreases. And if the level of liquidity increases, the potential for hedging decisions through derivative instruments decreases.
CEMENT SUB SECTOR STOCK RETURNS BASED ON ECONOMIC VALUE ADDED AND MARKET VALUE ADDED Kustina, Lisa; Rakhmat, Adrianna Syariefur
Journal of Research in Business, Economics, and Education Vol 1 No 2 (2019): December Edition
Publisher : STIE Kusuma Negara

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Abstract

The main goal of a company is not to make profit, but to cash. One of the main indicators in generating cash is to maximize the value of the company's shares as a form of giving satisfaction to the company's shareholders. In an effort to achieve this, the company will try to increase cash flow and profits to be obtained. This research is a quantitative and causal associative study that measures the effect of EVA and MVA on stock price returns using panel data regression analysis. The sample in this study is 4 (four) cement companies that have gone public with a time period of 9 (nine) years from 2010 to 2018. The results of this study indicate that the effect of EVA and MVA on stock returns is 11.7% while 88, The remaining 3% is influenced by other variables not mentioned in the model. Based on partial tests, EVA has a negative and not significant effect on stock returns. While MVA has a positive and not significant effect on stock returns.
THE INFLUENCE OF RUPIAH EXCHANGE RATE, FIRM SIZE, LEVERAGE AND LIQUIDITY ON HEDGING DECISIONS Adrianna Syariefur Rachmat; Lisa Kustina
Journal of Research in Business, Economics, and Education Vol. 1 No. 1 (2019): October
Publisher : Kusuma Negara Business School

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Companies facing the risk of fluctuations in foreign exchange rates can hedge with derivative instruments such as forward, future, swap and option contracts. The purpose of this study is to determine the effect of exchange rates, firm size, leverage and liquidity on hedging decision making using derivative instruments at state-owned banks listed on the Indonesia Stock Exchange for the period of 2016-2018. The method of determining the sample using purpose sampling technique and obtained 12 samples that meet the criteria and 144 firm-quarter observation. The analysis technique used is regression panel logistics. Based on research results obtained, that if the size of the company increases, the potential for hedging decisions through derivative instruments also increases. As for the level of leverage increases, the potential for hedging decisions through derivative instruments decreases. And if the level of liquidity increases, the potential for hedging decisions through derivative instruments decreases.
CEMENT SUB SECTOR STOCK RETURNS BASED ON ECONOMIC VALUE ADDED AND MARKET VALUE ADDED Lisa Kustina; Adrianna Syariefur Rakhmat
Journal of Research in Business, Economics, and Education Vol. 1 No. 2 (2019): December
Publisher : Kusuma Negara Business School

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The main goal of a company is not to make profit, but to cash. One of the main indicators in generating cash is to maximize the value of the company's shares as a form of giving satisfaction to the company's shareholders. In an effort to achieve this, the company will try to increase cash flow and profits to be obtained. This research is a quantitative and causal associative study that measures the effect of EVA and MVA on stock price returns using panel data regression analysis. The sample in this study is 4 (four) cement companies that have gone public with a time period of 9 (nine) years from 2010 to 2018. The results of this study indicate that the effect of EVA and MVA on stock returns is 11.7% while 88, The remaining 3% is influenced by other variables not mentioned in the model. Based on partial tests, EVA has a negative and not significant effect on stock returns. While MVA has a positive and not significant effect on stock returns.
INVESTASI ASING: PERTUMBUHAN EKONOMI DAN BI RATE Lisa Kustina; Samsul Anwar; Fitri Kaniawati
Jurnal Investasi Vol 4 No 2 (2018): JURNAL INVESTASI NOPEMBER 2018
Publisher : Universitas Wiralodra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31943/investasi.v4i2.6

Abstract

Penanaman modal asing membantu indonesia dalam melaksanakan pembangunan. Pembiayaan yang berasal dari luar negeri dapat digunakan sebagai tambahan pembiayaan pembangunan di indonesia. Sedangkan pertumbuhan ekonomi dan BI rate adalah faktor- faktor yang dapat mempengaruhi minat atas investasi asing langsung. Penelitian ini bertujuan untuk mengetahui seberapa besar pengaruh pertumbuhan ekonomi dan bi rate terhadap prosentase kepemilikan pihak asing di indonesia. Variable independent yang ada dalam penelitian ini adalah pertumbuhan ekonomi yang dikeluarkan oleh badan pusat statistik dan BI rate yang ditetapkan oleh bank indonesia, sedangkan variable dependent nya adalah total prosentase kepemilikan asing di indonesia. Data yang digunakan dalam penelitian ini adalah data sekunder yang merupakan data yang di peroleh dari pihak ketiga. Data yang digunakan yaitu merupakan data time series kurun waktu 7 tahun (2010 – 2017). Penelitian ini menggunakan teknik analisis regresi linear berganda. Hasil Penelitian ini menunjukan bahwa Pertumbuhan ekonomi berpengaruh positif terhadap investasi asing langsung dengan nilai prob 0,00 < 0,05 dan BI rate berpengaruh negatif terhadap investasi asing langsung dengan nilai prob 0,36 > 0,05. Nilai R-Squared dari variabel Produk Domestik Bruto dan BI rate sebesar 0,9829 yang berarti variabel Produk Domestik Bruto dan BI rate mempengaruhi Investasi Asing Langsung sebesar 98,29 % sedangkan 1,71 % lainnya dipengaruhi oleh faktor lain diluar variabel indepedent penelitian ini.
PENGARUH BURSA SAHAM GLOBAL SYARIAH TERHADAP JAKARTA ISLAMIC INDEX PERIODE TAHUN 2015-2017 samsul Anwar; Lisa Kustina; Fitri Kaniawati
Jurnal Investasi Vol 4 No 2 (2018): JURNAL INVESTASI NOPEMBER 2018
Publisher : Universitas Wiralodra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31943/investasi.v4i2.7

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh bursa saham global syariah yang diwakili oleh variabel Dow Jones Islamic Market Index Europe, Dow Jones Islamic Market Index Malaysia, Dubai Financial Market General Index, Tadawul All Share Index terhadap Jakarta Islamic Index. Penelitian ini menggunakan data sekunder yang berupa data index saham bulanan periode tahun 2015-2017. Analisis data dalam penelitian ini menggunakan analisis deskriptif dan analisis regresi linear. Data diolah dengan menggunakan software eviews. Hasil dari penelitian ini menunjukan bahwa variabel Dow Jones Islamic Market Index Europe secara parsial berpengaruh terhadap Jakarta Islamic Index periode 2015-2017. Sedangkan Dow Jones Islamic Market Index Malaysia, Dubai Financial Market General Index, dan Tadawul All Share Index tidak berpengaruh signifikan terhadap Jakarta Islamic Index periode 2015-2017.
KEBIJAKAN DEVIDEN DAN CAPITAL GAIN: PENGARUHNYA TERHADAP HARGA SAHAM Lisa Kustina; Otika Safitri; samsul Anwar
Jurnal Investasi Vol 5 No 1 (2019): JURNAL INVESTASI APRIL 2019
Publisher : Universitas Wiralodra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31943/investasi.v5i1.16

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh kebijakan deviden dan capital gain terhadap harga saham. Penelitian ini menggunakan data sekunder. Jumlah sample dalam penelitian ini ada 15 perusahaan LQ45 yang menerbitkan saham dan membagikan deviden ataupun capital gain berturut-turut pada tahun 2014-2015. Variabel independen yang digunakan dalam penelitian ini adalah Capital gain dan Kebijakan Deviden, sedangkan variable dependen yang digunakan dalam penelitian ini adalah harga saham. Pengujian hipotesis ini menggunakan uji regresi linear data panel dan diolah dengan menggunakan software eviews. Hasil penelitian ini menunjukan bahwa variable kebijakan deviden tidak berpengaruh secara signifikan terhadap harga saham dan variable capital gain berpengaruh secara signifikan terhadap harga saham pada perusahaan LQ45 tahun 2014-2015. This study aims to determine the effect of dividend policy and capital gain on stock prices. This study uses secondary data. The number of samples in this study were 15 LQ45 companies that issued shares and distributed dividends or capital gains in a row in 2014-2015. The independent variable used in this study is Capital gain and Dividend Policy, while the dependent variable used in this study is the stock price. Testing this hypothesis uses a linear data panel regression test and processed using software eviews. The results of this study indicate that the dividend policy variable does not significantly influence stock prices and variable capital gains significantly influence stock prices in LQ45 companies in 2014-2015
PENGARUH BURSA SAHAM GLOBAL TERHADAP INDEKS HARGA SAHAM GABUNGAN DI BURSA EFEK INDONESIA Lisa Kustina; Anwar, Samsul; Mawar, Imas
Jurnal Investasi Vol 4 No 1 (2018): JURNAL INVESTASI APRIL 2018
Publisher : Universitas Wiralodra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31943/investasi.v4i1.32

Abstract

Tujuan Penelitian ini adalah untuk mengetahui pengaruh bursa saham global terhadap indeks harga saham gabungan di Bursa Efek Indonesia. Bursa saham global yang digunakan dalam penelitian ini adalah Dow Jones Index (DJI), Korea Stock Price Composite Index (KOSPI), Tokyo Stock Exchange (Nikkei heikin kabuki / Nikkei 225), dan Australian Securities Exchange (ASX). Sampel yang diteliti dalam penelitian ini adalah periode 2015 hingga 2017. Penelitian ini menggunakan regresi linear berganda untuk mengolah data penelitian. Hasil Penelitian ini menunjukkan bahwa Dow Jones Index (DJI), Korea Stock Price Composite Index (KOSPI), Tokyo Stock Exchange (Nikkei heikin kabuki / Nikkei 225), dan Australian Securities Exchange (ASX) secara parsial berpengaruh terhadap Indek Harga Saham Gabungan diIndonesia. Dow Jones Index (DJI), Korea Stock Price Composite Index (KOSPI), dan Australian Securities Exchange (ASX) berpengaruh signifikan pada tingkat signifikansi 0.000 sedangkan Tokyo Stock Exchange (Nikkei 225) pada tingkat signifikansi 0.001. The purpose of this study was to determine the effect of global stock exchanges on the composite stock price index on the Indonesia Stock Exchange. The global stock exchanges used in this study are the Dow Jones Index (DJI), the Korea Stock Price Composite Index (KOSPI), the Tokyo Stock Exchange (Nikkei Heikin Kabuki / Nikkei 225), and the Australian Securities Exchange (ASX). The sample examined in this study is the period 2015 to 2017. This study uses multiple linear regression to process research data. The results of this study indicate that the Dow Jones Index (DJI), the Korea Stock Price Composite Index (KOSPI), the Tokyo Stock Exchange (Nikkei Heikin Kabuki / Nikkei 225), and the Australian Securities Exchange (ASX) partially affect the Composite Stock Price Index in Indonesia. The Dow Jones Index (DJI), the Korea Stock Price Composite Index (KOSPI), and the Australian Securities Exchange (ASX) have a significant effect on the significance level of 0,000 while the Tokyo Stock Exchange (Nikkei 225) is at a significance level of 0.001.
Indonesia Sharia Stock Index and Global Sharia Stock Index Lisa Kustina; Adrianna Syariefur Rakhmat
JURNAL ILMIAH MANAJEMEN & BISNIS Vol 21, No 1 (2020): April - September
Publisher : UNIVERSITAS MUHAMMADIYAH SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (898.539 KB) | DOI: 10.30596/jimb.v21i1.3838

Abstract

This study aims to analyze the effect of the Global Sharia Stock Exchange on the Indonesia Sharia Stock Price Index in Indonesia Stock Exchange for the study period of 2016 to 2018. On 31 December 2015, the ASEAN Economic Community began to be implemented, then resulting in a free flow of goods, services, and investments, so this study took samples starting in 2016. Dependent variables used are the Indonesia Sharia Stock Index, while the independent variables are Dubai Financial Market General Index (DFMGI), European Dow Jones Islamic Market Index, (DJIEU), Dow Jones Islamic Market Index 25 USD (Malaysia) and Tadawull All Share Index (Saudi Arabia). While the independent variable used is the Indonesia Sharia stock index (ISSI). The data used are monthly stock index data from all sharia stock indexes in Indonesia, Malaysia, the US, Japan, Dubai, and Saudi Arabia from 2016 to 2018. This research was processed using Eviews 10. The results of this study indicate that partially Dubai Financial Market General Index (DFMGI) and the European Dow Jones Islamic Market Index (DJIEU) have no significant effect on the Indonesia Sharia stock index, while the Dow Jones Islamic Market Index 25 USD (Malaysia) and the Tadawull All Share Index (Saudi Arabia) have a significant effect on the Indonesia Sharia Stock Index.
Pemberdayaan Ekonomi Kreatif di Desa Sukaresmi melalui Daur Ulang Plastik Kresek menjadi Hiasan yang Bernilai Ekonomi Kuwat Riyanto; Lisa Kustina; Fathurohman Fathurohman
Dedikasi Sains dan Teknologi (DST) Vol. 1 No. 1 (2021): Dedikasi Sains dan Teknologi : Volume 1 Nomor 1, Mei 2021
Publisher : Information Technology and Science (ITScience)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (761.882 KB) | DOI: 10.47709/dst.v1i1.1001

Abstract

:  Limbah plastik sangat mencemari lingkungan. Keterlibatan masyarakat dalam mengurangi pemakaian plastik dan mendaur ulang plastik masih sangat minim. Besarnya dampak negatif limbah plastik terhadap lingkungan, sehingga dibutuhkan proses daur ulang. Salah satunya melalui daur ulang plastik kresek. Kreatifitas pengelolaan limbah dapat mengurangi dampak negatif pencemaran lingkungan serta meningkatkan kesadaran masyarakat akan pentingnya menjaga lingkungan dan memanfaatkan setiap hal, baik itu limbah maupun barang yang tidak terpakai menjadi barang yang bernilai ekonomi. Kreatifitas mengubah limbah yang tidak bernilai dapat diolah menjadi sesuatu yang bernilai. Sampah plastik kresek yang tidak bernilai dapat diolah menjadi hiasan bunga cantik yang memiliki nilai ekonomi. Hal ini sebagai wujud tanggungjawab dan pengabdian kepada masyarakat serta untuk menjaga lingkungan khususnya Desa Sukaresmi terhadap banyaknya limbah sampah plastik kresek diwilayah tersebut. Tujuan dari kegiatan pengabdian ini adalah untuk meningkatkan keterampilan masyarakat khususnya Desa Sukaresmi untuk memanfaatkan limbah plastik kresek menjadi hiasan yang bernilai ekonomi, sehingga dapat meningkatkan penghasilan masyarakat serta mengurangi limbah plastik kresek. Kegiatan ekonomi kreatif melalui daur ulang plastik kresek ini menggunakan metode pendekatan kepada masyarakat melalui sosialisasi bahwa setiap limbah apabila diolah dengan baik akan menghasilkan barang yang bernilai ekonomi. Masyarakat Desa Sukaresmi diharapkan mampu mengolah limbah plastik kresek menjadi barang yang bernilai ekonomi. Limbah plastik kresek tersebut dapat diolah menjadi hiasan bunga cantik yang bernilai ekonomi.
Co-Authors Adilah, Alya Aryanti Adrianna Syariefur Rakhmat Agustin, Devina Agustin, Restiana Al-Huda, Muhammad Bayu Ali Djamhuri Amelia , Rika Ananda, Bunga Puja Andaris, Ibnu Andini, Salma Ayu Angela, Pipin Aning Risky Montana Anjani, Tiya Melida Antika, Rindi Ardiansyah, Ahmad Rafi Ariesta Hasin, Legiana Putri Arlita, Winda Asep Muhidin Ayu Agustin Ayu Wulandari Azzah Muaribah Nabhan Azzahra, Rieza Ammalia Darma, Yuki Dwi Desiana Indah Nuraini Destiana, Silvia Dian Sulistyorini Wulandari Dina Cameliya Djatnicka, Erlina Djatnicka, Erlina W Dwi Darma, Yuki Dwitia Rochman Ekawati, Sarumaha Siska Elsye Fatmawati Fadilah, Firman Maulana Fadillah, Arum Nur Fafiona, Angelika Faiqoh, Dewi Fathurohman Fathurohman Fauziah, Iis Filda Mutiara Safitri Fitri Kaniawati Fitri Kaniawati Friska, Friska Haryati, Delvi Haya, Aqila Fadia Hia, Angel Christin Hidayah, Risma Ningsih Nur Hijrianti, Ilma Ilham Dwi Saputro Imansyah, Maya Sari Imas Mawar Indri, Dea Indriyani, Marsih Istanti, Alifah Maulidia Jatlan, Nasywa Ramadhanti Juliansyah, Doni Junaedi Junaedi Kamela, Hurian Kamilah, Lala Kamelia Karlina, Tika Karsito Khairunnisa, Jihan Kirom, Rifa Mu'minatul Kuwat Riyanto Lestari, Amanda Lestari, Pinnah Ayu Maulana, Donny Maulidya, Icha Mawar, Imas Millah, Duriyyatul Mohamad Ferdi Nur Muiz, Najmi Tsania El Nabila, Nabila Nataliana Bebasari Neng Asiah, Neng niken paramitha nuraini Ningsih Wijaya, Ade Ningtyas, Firda Alfi Noviansyah, Riski Ramadhan Novita, Eka Nur Anggraini, Nur Nur, Adlina Nur, Harum Nurastuti, Preatmi Otika Safitri Otika Safitri Parulian, Parulian Permatasari, Maulina Dyah Pertiwi , Silvi Indah Pratama, Bagas Pujiharta, Pujiharta Putra, Sulistyo Pratiko Putriani, Lira Rabbani, Adinda Rahma, Aisatu Ratna Sari, Sri Rina Nurjanah Rini Anggraini, Rini Riska Damayanti, Riska Riswandari, Imas Candra Rochman, Dwitia Sabita, Lutfi Eka Safitri, Filda Mutiara Safitri, Herlina Adyanti Samsul Anwar Samsul Anwar Samsul Anwar Samsul Anwar Sandy, Kurnia Sartika Sartika Septiani, Atikah Septiawan, Dimas Septiawan, Seno Setiawan, Fayad Shamurti, Jamaludin Suhada Silvia, Nita Simamora, Rani Sirait, Bintang Siti Nurannisa solihat, siti Sukmaningsih, Fidiyah Supira, Wita Surtarti, Dwi Syahira, Adella Devany Syalwa, Deswita Cholinia Taftazani, Afif Mustafid Tan, Emmelia Taufik Nur Hidayah Umi Hanik Utari, Vita Tri Verosa, Novia Wardani, Wanda Putriana Wasyiah, Ai Widati, Sindik Widayanti, Erlina Wijaya, Ade Ningsih Wisnu Erivia, Fadisa Dera Wulandari Wulandari Wulandari, Dian Sulistyorini Wulandari, Sekar Asri Pebri Yahya, Adibah Zulfa, Mia