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PENGUJTAN PECKTTVG ORDER THEORY (POT): Pengaruh Leverage Terhadap Pendanaan Surplus dan Defisit pada lndustri Manufaktur di Bursa Efek lndonesia Christianti, Ari
Jurnal Riset Akuntansi dan Keuangan Vol 4, No 2 (2008): Jurnal Riset Akuntansi dan Keuangan
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrak.2008.42.145

Abstract

This research is empirically examines the Pecking Mer Theory eOD. This is important since the POT discuss the factors effected the tevet of debt used by tfui company srrch as: the capocity of deficit due to internal cash tlow inadequocy for exercising the hwestment and its commitment to regululy pay dividend- On doing so, this research is intended to specifically examine the effect of surphs and deficit financing on the use of debt. The samples oe dr*vn trom compoies within maru{acturingsector which are listed at the Indonesiott Capital Stock Erchangeduring 2000-2005. Furthermore the data will be analyzed using the regression with dumrny vsiables. The result sltows, there is a negatively effect between long term debt with deficrt. The possible explanation is muket and economic condition effect the capital stttcryre decision. Keyword: Pecking Mer Theory eOD, debt, sarplus, deficit
Perbandingan Kinerja Sub Sektor Makanan-Minuman dan Farmasi pada Kasus Pertama Covid-19 di Indonesia Surbakti, Maria Salsalina; Christianti, Ari
Jurnal Nusantara Aplikasi Manajemen Bisnis Vol 8 No 1 (2023): Jurnal NUSAMBA
Publisher : UNIVERSITAS NUSANTARA PGRI KEDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29407/nusamba.v8i1.19718

Abstract

Research aim : This study aims to prove whether the consumer goods sector is a sector that is immune to the Covid-19 pandemic, considering that investment in this sector is an investment in defensive stocks. Design/Methode/Approach : Apply an event study approach, this study will compare the abnormal returns on stocks in the food-beverage and pharmaceutical sub-sector before and after the first case of Covid-19 entered Indonesia. Research Finding : This study showed a significant differences in positive abnormal returns before and after the first case of Covid-19 in the stocks of the food-beverage sub-sector. However, it is different from the pharmaceutical sub-sector. It has a positive abnormal return difference before and after the first case of Covid-19, but it is not significant statistically. Theoretical contribution/Originality : In addition to being influenced by internal factors, stock performance is also influenced by external factors and even external factors outside the market, such as the Covid-19 Pandemic. The Covid-19 Pandemic has impacted a country's economy due to anticipatory policies undertaken to reduce the spread of the virus, including work-from-home and social distancing. Practitionel/Policy implication : Investments in the Consumer Goods sector, in this case, the food-beverage and pharmaceutical sub-sector during the Covid-19 Pandemic, need to be included in the stock portfolio because its performance is stable and tends to increase. Investment in Consumer Goods sector stocks is essential as a defensive stock to stabilize the stock portfolio's performance. Especially during the Covid-19 period, the primary basic human needs are still needed, especially health and the need for PPE (Personal Protective Equipment), vaccines, and medicines the Pandemic. Research limitation : The event window is too short, namely, only five days before the event day and five days after the event. It is recommended that the number of days the event window can be extended so that the abnormal return reaction to the event of the first case of Covid-19 can be better analyzed.