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Journal : J-MAS (Jurnal Manajemen dan Sains)

Pengaruh Penentu Kompleksitas Struktur Modal Perusahaan Sektor Pertambangan Bursa Efek Indonesia Indriati, Teti; Ma’mun, Sitti Zakiah; Maksar, Muhammad Sofian
J-MAS (Jurnal Manajemen dan Sains) Vol 9, No 1 (2024): April
Publisher : Universitas Batanghari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33087/jmas.v9i1.1699

Abstract

This study aims to determine the determinants of capital structure complexity in the mining sector listed on the Indonesia Stock Exchange (IDX) for the 2017-2021 period. In this study, the factors that determine the complexity of capital structure include indicators of asset structure, company size, profitability, inflation, and interest rates, while the complexity of capital structure includes indicators of the size of the number of capital sources and the level of concentration of capital sources. The number of samples was 52 mining companies collected using purposive sampling technique. This study uses quantitative data obtained from data listed on the Indonesian Stock Exchange (IDX) and the World Bank portal, and uses panel data regression analysis techniques. The findings show that only asset structure has a significant positive influence on the complexity of capital structure, which is measured by the number of capital sources and the concentration of capital sources. Meanwhile, the variables of firm size, profitability, interest rate and inflation have no significant influence on the complexity of capital structure in mining companies.
Analisis Integrasi Dinamis Pasar Modal Indonesia terhadap Pasar Modal ASEAN Pasca Berlakunya Masyarakat Ekonomi ASEAN Nia, Wa; Ma’mun, Sitti Zakiah; Maksar, Muhammad Sofian
J-MAS (Jurnal Manajemen dan Sains) Vol 9, No 1 (2024): April
Publisher : Universitas Batanghari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33087/jmas.v9i1.1704

Abstract

This research intends to understand the dynamic integration of the Indonesian capital market with the ASEAN Capital Market before and after the implementation of the MEA (ASEAN Economic Community) or AEC. The sample used in this observation is a series of data collected in the period January 2011 to December 2015 before the MEA was implemented and January 2016 to December 2022 after the MEA was implemented, while the capital markets studied were the Indonesian Stock Exchange, Kuala Lumpur Stock Exchange, Stock Exchange Singapore, Philippine Stock Exchange and Thai Stock Exchange. This research analyzes the dynamic integration of the Indonesian capital market towards ASEAN after the implementation of the MEA using the Orthogonal Generalized Autoregressive Conditional Heteroscedasticity (OGARCH) method which can manifest the level of integration in a measurable way. The results of this research are that there is co-movement among the ASEAN capital markets studied, however, not all ASEAN capital markets are fully integrated. The results of this observation also found that the Indonesian Stock Exchange, Kuala Lumpur Stock Exchange, Thailand Stock Exchange and Singapore Stock Exchange were integrated but the Philippine Stock Exchange was not. The Philippine Stock Exchange tends to be segmented rather than integrated.