Garuda - Garba Rujukan Digital

Analisis kinerja keuangan BPD DIY dan BPD BJB menggunakan analisis likuiditas, profitabilitas, dan solvabilitas Valenty, Yola Andesta; Santoso, Fahrul Imam
Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan Vol. 4 No. 9 (2022): Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan
Publisher : Departement Of Accounting, Indonesian Cooperative Institute, Indonesia

This study describes the Financial Performance Analysis of PT Bank BPD DIY and PT BPD Jawa Barat and Banten Tbk by comparing financial performance in financial statements using analysis of liquidity ratios, profitability ratios, and solvency ratios in the 2016-2018 period. Both are companies owned by Regional Owned Enterprises (BUMD). PT Bank BPD DIY is a BUMD managed privately in its capital and share ownership, in contrast to PT BPD Jawa Barat and Banten Tbk, which have "go public" in share ownership managed openly. This study uses secondary data in the form of financial statements obtained from each company in balance sheets, income statements, cash flow statements, and other supporting data. This research method uses a descriptive method with a qualitative approach. The purpose of this study was to analyze the financial performance of the two companies viewed from the liquidity aspect to determine the extent to which the company could cover its current liabilities using current assets owned by each company. Then measure the performance of the two companies seen from the company's ability to generate profits in each accounting period. From these two aspects, it is also necessary to look at the solvency aspect by measuring the assets owned by the company by comparing it with all assets owned and the capital owned by a comparison of its liabilities. Then, from the two companies' measurements, a conclusion can be drawn. The results showed that the financial performance of the two companies went well from the analysis of liquidity, solvency, and profitability.

Indonesian Capital Market Reaction to Fed Interest Rate Cut in 2024 Saputri, Risma Andreliani; Santoso, Fahrul Imam
GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue
Publisher : Yayasan Cita Cendekiawan Al Khwarizmi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47709/governors.v4i1.6013

Capital markets are often influenced by global monetary policy, including changes in the Fed's interest rates. This decline in interest rates can affect investors' expectations of risk and return. This research aims to analyze the capital market reaction to the Fed's interest rate reduction by looking at differences in abnormal returns, trading volume activity, and bid-ask spread. The research objects in this study are energy sector companies listed on the Indonesia Stock Exchange with an estimation period of 100 days before the event and a research period of 11 days, consisting of 5 days before, during and 5 days after the event. This research uses the event study method with a sample of 29 companies selected through purposive sampling. Data analysis techniques include descriptive statistical analysis, Shapiro-Wilk normality test, and Wilcoxon Signed Rank Test hypothesis testing. The research results show that abnormal returns do not experience significant differences before and after the Fed’s interest rate cuts on September 18 and December 18, 2024, indicating that the market had possibly anticipated these monetary policy changes. However, a significant difference on November 7, 2024, suggests that the announcement on this date may have contained unexpected information, triggering a market reaction. Trading volume activity shows no significant differences for all three dates, implying that investor trading behavior remained relatively stable regardless of the policy changes. Similarly, the bid-ask spread shows no significant differences on September 18 and December 18, but a significant change on November 7 may indicate temporary changes in market liquidity or investor uncertainty.

Financial Performance Analysis of the Department of Culture (Kundha Kabudayan) of Gunungkidul Regency in the Management of the Regional Revenue and Expenditure Budget (APBD) for the Years 2019–2024 Putri, Intan Yulia; Santoso, Fahrul Imam
Jurnal Ekonomi Lembaga Layanan Pendidikan Tinggi Wilayah I Vol. 5 No. 1 (2025): Articles Research May 2025
Publisher : LLDIKTI Wilayah 1 Sumatera Utara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54076/juket.v5i1.587

The development of culture in Gunungkidul Regency has flourished thanks to the Special Autonomy Fund, which supports the preservation, development, and utilization of local culture through the preservation of historical sites, the revitalization of traditional arts, and community-involved activities. The achievement of budget realization, as reflected in the Budget Realization Report of Regional Revenue and Expenditure (APBD) from 2019 to 2024, has shown fluctuations. This research aims to evaluate the financial performance of the Cultural Affairs Office of Gunungkidul Regency for the fiscal years 2019–2024. This study employs a qualitative approach, utilizing data collection methods such as observation, documentation, and interviews. The data used consist of primary data obtained from interviews with the staff of the Cultural Affairs Office of Gunungkidul Regency, as well as secondary data from the Budget Realization Report of Regional Revenue and Expenditure (APBD) for 2019–2024. The research focuses on analyzing the financial performance ratios, including efficiency ratios, effectiveness ratios, expenditure variance ratios, expenditure growth ratios, and SILPA (Remaining Budget Balance) ratios. The results indicate that the financial performance of the Cultural Affairs Office of Gunungkidul Regency, as measured by efficiency ratios, effectiveness ratios, and variance analysis, is generally good, with positive expenditure growth and a declining SILPA ratio. However, this study also finds that the effectiveness ratio is still relatively low. These findings are expected to provide valuable input for the Cultural Affairs Office of Gunungkidul Regency. There is a need for capacity building for human resources and the utilization of technology for monitoring and evaluation to ensure optimal budget implementation.

Analisis Penerapan Metode Capital Asset Pricing Model (CAPM) dan Reward To Variability Ratio (RVAR) Dalam Pengambilan Keputusan Investasi Saham: Studi Kasus: Perusahaan-Perusahaan yang Terdaftar Pada Indeks LQ45 di BEI Periode Februari 2020 – Januari 2025 Khaerunnisa, Winda; Santoso, Fahrul Imam
SUSTAINABLE Vol 5 No 1 (2025): Volume 5 No 1, Mei 2025
Publisher : UMSurabaya Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/stb.v5i1.26265

The aim of this research is to analyze the grouping of stocks within the LQ45 index that can be considered in the construction of an investment portfolio using the Capital Asset Pricing Model (CAPM) and Reward to Variability Ratio (RVAR) methods. The CAPM method is used to measure the expected return of a stock based on its systematic risk. Furthermore, the RVAR method is applied to rank stock performance by comparing return levels with associated risk. This research employs a descriptive method with a quantitative approach. The data used includes monthly stock closing prices, IDX Composite as a market proxy, and the risk-free interest rate for the period from February 2020 to January 2025. The analysis results indicate that the top-performing stocks based on the combination of both methods, in order, are PT Alamtri Resources Indonesia Tbk (ADRO), PT Indo Tambangraya Megah Tbk (ITMG), PT Bukit Asam Tbk (PTBA), PT Aneka Tambang Tbk (ANTM), and PT United Tractors Tbk (UNTR).

Earnings Per Share, Return on Equity, and Debt to Asset Ratio Related to Stock Prices Pratama, Anggara Bangun; Kurnianingsih, Widiyanti; Santoso, Fahrul Imam
GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue
Publisher : Yayasan Cita Cendekiawan Al Khwarizmi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47709/governors.v4i1.6303

This study aims to empirically analyze the influence of Earnings Per Share (EPS), Return on Equity (ROE), and Debt to Asset Ratio (DAR) on the stock prices of companies in the financial sector listed on the Indonesia Stock Exchange (IDX). The research uses a quantitative approach with an explanatory design, applying multiple linear regression analysis to simulated panel data for the period 2021–2025. Data were obtained from secondary sources by simulating financial reports and stock prices that realistically reflect historical trends for 10 selected financial companies, resulting in 50 observations. The study employs standard data analysis techniques, including classical assumption tests (normality, multicollinearity, heteroscedasticity, and autocorrelation) to ensure that the model fulfills the BLUE (Best Linear Unbiased Estimator) criteria. The results indicate that EPS and ROE have a significant positive effect on stock prices, whereas DAR has a significant negative effect. The high coefficient of determination (R²) confirms that the model explains most of the variability in stock prices. These findings reaffirm that company profitability and equity management efficiency drive stock price appreciation, while an excessive capital structure relying on high debt can lower investor confidence. This study contributes to the existing literature by providing systematic empirical evidence and serves as a practical reference for investors and financial managers in making informed strategic decisions.

The Value Of Property Companies: Role Of Profitability, Leverage, And Liquidity Agistia, Irine; Santoso, Fahrul Imam
GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue
Publisher : Yayasan Cita Cendekiawan Al Khwarizmi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47709/governors.v4i1.6327

This study aims to analyze the effect of profitability, leverage and liquidity on the value of property companies listed on the Indonesia Stock Exchange during the 2020-2024 period. The population was 84 property and real estate companies listed on the Indonesia Stock Exchange. The sample obtained using purposive sampling was 12 companies with 5 years of data, resulting in a total of 60 sample data. All data analyses are conducted using statistical software such as SPSS. The results of the study show that each variable of profitability, leverage, and liquidity has a positive effect on company value. Profitability as measured by the net profit ratio, is proven to be the main factor that increases company value, reflecting the company's ability to generate sustainable profits. Leverage measured by the debt to equity ratio also shows a positive effect, indicating that wise use of debt can increase company value. Meanwhile, liquidity, measured by the current ratio, shows that companies with good liquidity are better able to meet short-term obligations, thereby increasing investor confidence. This study provides important insights for property company management in formulating effective financial strategies to increase company value. These findings also suggest the need for more attention to the management of these three variables to achieve sustainable growth in the property market.

Title

Found 6 Documents
Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title Search

Found 6 Documents Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title

Found 6 Documents
Search