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Pengaruh Struktural Modal dan Kebijakan Dividen terhadap Nilai Perusahaan Laura, Corry; Achmad, Daniel Noor
Jurnal Ilmiah Manajemen Kesatuan Vol 5 No 1 (2017): JIMKES Edisi April 2017
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

The firm value is the price that a potential buyer is willing to pay if the company will be sold. This value also a benchmark for investors to invest to obtain the desired profit. Dividend policy is to determine how much of the profits will be distributed as dividend to shareholders and how much as retained earnings. Capital structure is a proposition in determining the fulfillment of company spending where the proceeds are used for a combination or mixed that is the main source comes from the company's long-term funding consists of two main sources, from within and outside the company. The purpose of this study is to determine the relationship, the relationship closeness and influence between capital structure, dividend policy as a free variable against the value of the company as the dependent variable. Capital structure with DER indicators, dividend policy proxied by payout ratio, and the value of the company proxied by two indicators namely market value and intrinsic value per share. In this study the authors perform statistical testing either partially or simultaneously. The method of analysis used in this study are the correlation coefficient analysis (R) to identify the relationship among variables. The coefficient of determination analysis (R2) to determine the closeness of the relationship between independent variables and dependent variables, and regression coefficient analysis to measure the magnitude of the influence of independent variables against dependent variables. Besides, the trend analysis of the data was conducted to determine the development of data during the research period. Significant test conducted by F test and t test. The level of significance set in this study is 10%. The analysis found several important findings. Some are such as INTP R between capital structure and share price stood at 0.690 or at the level of a strong relationship. While on SMGR R is at 0,877 or very strong. Level of significance of both companies respectively 0.058 and 0.004. Meanwhile, Figures R between capital structure and intrinsic value reached 0.306 INTP or weak and insignificant (0.461). While on SMGR reached 0,841 or very strong with significance level of 0.009.

Analisis Perbandingan Tingkat Keuntungan Dan Risiko Portofolio Dengan Menggunakan Model Indeks Tunggal Dan CAPM Achmad, Daniel Noor; Yudha, Andi; Bela, Marita
Jurnal Ilmiah Manajemen Kesatuan Vol 2 No 3 (2014): JIMKES Edisi Desember 2014
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v2i3.803

The purpose of this study is to determine the level of retum and risk from a portfolio using Single Index method and CAPM measured using average yield, while the risk ofportfolio is measured by Single Index model calculated using variance, while the risk is measured using CAPM model by beta value (market risk). The analysis used in this study is comparing results of calculation using formulas both Single Index and CAPM models. The fonnulas include methods to measure the return and risk of a stock portfolio. Beta factor is used to measure the sensitivity of the portfolio to the market and both models use the same calculation. The period of this study is during August 2012 â€” January 2013 by using index data to determine the level of expected return and the risk of each portfolio. The result shows that the highest average expected return rate in the period ofstudy which using the Single Index Model is owned by Sri-Kehati portfolio that has an average rate of return amount 0.0009 and has as small risk of total consisting in market company risk with an amount of 0.00007. Furthermore the smallest return in average is owned by Pefind025 with the amount of 0.0004 and the highest risk with the amount of 0.00010, and the pefind025 portfolio has the smallest beta. In CAPM model we found that all portfolios has negative return and negative risk premises which means six ofthe portfolios do not meet the expected returns. Keywords: return, risk, beta, Single Index Model, CAPM

Pengaruh Perputaran Persediaan Terhadap Likuiditas Pada PT Indofood Tbk dan PT Mandom Tbk Achmad, Daniel Noor; Magdalena, Annaria; Wijaya, Frans
Jurnal Ilmiah Manajemen Kesatuan Vol 2 No 3 (2014): JIMKES Edisi Desember 2014
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v2i3.804

Inventory is very important especially as building blocks for companies in producing a product will be sold. Whereas production process defines assessment of liquidity level crucial to the company 's ability to pay its short-term debts at maturity. Based on the graphic of the INTO movement, Current, Cash, Quick Ratio we can see the relationship benveen invent.ory tumover (INTO) with liquidity (Cash Ratio, Quick Ratio and Current Ratio) of PT Indofood Tbk in 2007 until the year 2009 showed that when inventory turnaround went slow, the company 's liquidity would decrease. And on the contrary, the company's liquidity would increase when the inventory tumaround was fast. In 2010 and 2011 showed a decreased inventory turnover but increased liquidity, this is due to the presence ofotherfactors influencing company 's liquidity such as the management of the company's most liquid current assets. Overall, inventory tumaround at PT. Mandom, Tbk on every year in the period 2007 to 2011 are fluctuating. This can be seen from the increasing and decreasing value of the company. We can still say that PT. Mandom Tbk still holds consumer preferences, and can still fulfil consumers ' demands, and being innovative at the same time. Qualitatively, the company experienced a slower performance but managed to slowly get into performance again. For 5 years, 2010 is the year when the company experienced the highest inventory turnover achieved as much as 4.78 times, and 2008 was the lowest inventory turnover as much as 3.42. Keywords: INTO and LIQUIDTY

Analisis Harga Saham, Volume Perdagangan Saham, Terhadap Keputusan Stock Split dan Reverse Split PT. Astra Internasional Tbk dan PT. Smartfren Telecom Tbk Achmad, Daniel Noor; M, Bintang Sahala; Olive, Gabriella
Jurnal Ilmiah Manajemen Kesatuan Vol 3 No 1 (2015): JIMKES Edisi April 2015
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v3i1.813

This research is aimed at analyzing the stock price, trading volume and the financial performance of the company and how these variables influence the management's decision for stock split and reverse split. Stock price is the variable used to create the profile of expected retum to value the risk ofthe stock that company will give to the owner ofthe company, and trading volume is used to analyse the liquidity of the investment instrumenst, and lastly to examine the success of the corporate action using the financial performance as the indicator of Eaming Per Share (EPS). Analytical method is used to analyze the coworate action of PT. Astra Internasional Tbk in making the stock split decision with the ratio 1:10 in 5 june 2012. Soon after, PT. Smartfren Telecom made the decision to reverse split by 20:1 in 15 february 2012. This study will discuss the stock perfomance and the financial performance before and after the decision by both companies. Keyword: Stock Price, Trading Volume Acivity (TVA), Earning Per Share (EPS), Price Earning Ratio (PER)

ANALISIS PEMILIHAN SAHAM DALAM PEMBENTUKAN PORTOFOLIO EFISIEN PADA SAHAM YANG TERGABUNG DALAM LQ 45 Achmad, Daniel Noor; Sahala, Bintang; Febriyanti, Devy
Jurnal Ilmiah Manajemen Kesatuan Vol 3 No 3 (2015): JIMKES Edisi Desember 2015
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v3i3.828

The purpose of this study is to determine what level of profit expected from each combination of portfolio and risk that exist on any combination of portfolio and detemine the allocation of capital to form an efficient portfolio. Selection of investment assets formed through historical data processing daily stock LQ 45 period from February to July 2012 Election assets in stocks LQ 45 because these stocks are illiquid stocks, that can be traded actively in the capital markets. Formation of eficient portfolio performed in an eficient portfolio in 2012 with the theoretical period of daily data and demonstrated in a realistic period of eficient portfolio in 2013 with the same asset allocation but generate returns and different risks. Based on the results of the calculations have been done, it can be concluded that the 5 pairs best portfolios. Keywords: Return, Risk, Efficient Portfolios

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