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Perilaku Herding Pada Harga Saham Sektor Energi Rasiv, Achmad Wildan; Juwita, Himmiyatul Amanah Jiwa
Jurnal Management Risiko dan Keuangan Vol. 3 No. 4 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2024.03.4.06

Abstract

The need of human to make investments has encouraged them to invest in capital markets through, one of which, stocks. One of the stock sectors in the Indonesia Stock Exchange that has a good performance is energy. The classical financial theory assumes that investors should behave rationally in making decisions. However, this does not necessarily the case since there are chances for the occurrence of market anomaly due to herding behavior, which explains the inefficiency of markets. The objective of this research is to detect herding behavior in the prices of stocks in energy sector during the 2019-2022 period in all market conditions, in favorable market condition, and in unfavorable market condition. The herding behavior in this quantitative study was detected using the Cross-Sectional Absolute Deviation (CSAD) method, in which the non-linear relationship between return and CSAD was observed. The samples are 34 energy sector companies, selected via purposive sampling. The study incorporates secondary data of monthly closing prices of both the stocks and the Indonesia’s Composite Index. The results of the data analysis and hypothesis testing in EViews 12 indicate that herding behaviors were detected in the prices of stocks in the energy sector in the Indonesia Stock Exchange during the 2019-2022 period in all market conditions and in unfavorable market condition. This study also finds that there is no herding behavior in the unfavorable market condition during the 2019-2022 period.   Abstrak Kebutuhan manusia untuk berinvestasi mendorong adanya investasi pada pasar modal, salah satunya adalah saham. Di Bursa Efek Indonesia, salah satu sektor saham yang memiliki performa baik adalah sektor energi. Teori keuangan klasik menyatakan bahwa investor seharusnya bertindak rasional dalam melakukan pengambilan keputusan investasi. Namun, hal ini tidak selalu terjadi dan terdapat peluang adanya anomali pasar yang disebabkan oleh perilaku herding yang menjelaskan bahwa pasar tidak senantiasa efisien. Penelitian ini bertujuan untuk mendeteksi perilaku herding pada harga saham sektor industri selama periode 2019-2022 pada keseluruhan kondisi pasar, kondisi pasar naik, dan kondisi pasar turun. Penelitian ini menggunakan pendekatan kuantitatif. Metode yang digunakan dalam mendeteksi herding adalah Cross Sectional Absolute Deviation (CSAD) dengan melihat hubungan non-linear return pasar dan CSAD. Sampel yang digunakan adalah 34 perusahaan sektor energi dengan teknik purposive sampling. Data yang digunakan adalah data sekunder harga penutupan bulanan saham tersebut dan IHSG pada periode 2019-2022. Analisis data dilakukan dengan pengujian hipotesis dengan perangkat lunak Eviews 12. Hasil penelitian ini menunjukkan bahwa terdapat perilaku herding pada harga saham sektor energi di Bursa Efek Indonesia periode 2019-2022 pada keseluruhan kondisi pasar dan kondisi pasar turun. Namun, tidak ditemukan perilaku herding pada kondisi pasar naik selama periode 2019-2022.
THE INFLUENCE OF PSYCHOLOGICAL EMPOWERMENT AND ISLAMIC SPIRITUAL LEADERSHIP ON ORGANIZATIONAL COMMITMENTS AND INTRINSIC MOTIVATION Febrianto, Abi Sopyan; Noermijati, Noermijati; Juwita, Himmiyatul Amanah Jiwa; Alashkam, Sana Amer
Jurnal Aplikasi Manajemen Vol. 17 No. 3 (2019)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jam.2019.017.03.01

Abstract

This study aims at examining and analyzing the influence of psychological empowerment and Islamic spiritual leadership on intrinsic motivation and organizational commitment. Respondents in this study were administrators at the Campus Dawah Association in Brawijaya University, which total up to 166 respondents. The data were analyzed using Partial Least Square (PLS) with version 3.0 SmartPLS software. The study found that psychological empowerment and Islamic spiritual leadership have a significant effect on intrinsic motivation. Psychological empowerment, Islamic spiritual leadership, and intrinsic motivation have a significant effect on organizational commitment.Furthermore, intrinsic motivation can mediate the influence of psychological empowerment and Islamic spiritual leadership on organizational commitment. Future researchers may expand the scope of the discussion to the value of the organization
THE ROLE OF FOREIGN OWNERSHIP, INSTITUTIONAL OWNERSHIP, INCOME-EARNING ABILITY, AND PROFITABILITY ON COMPANY CAPITAL STRUCTURE DYNAMICS Juwita, Himmiyatul Amanah Jiwa
Jurnal Aplikasi Manajemen Vol. 21 No. 4 (2023)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jam.2023.021.04.10

Abstract

Capital structure is an essential decision for the company. Capital structure is related to the composition and contribution of the company's funding in operational activities. This study aims to identify and describe the variables that affect the company's capital structure. This study uses a quantitative approach with explanatory research. The analysis technique used in this study is to use descriptive analysis and statistical inferential analysis with multiple regression techniques. The population used is a manufacturing company listed on the Indonesia Stock Exchange. The sampling method used is purposive sampling. In this study, the purposive sampling criteria used included Companies that have conducted an IPO (Initial Public Offering) before 2016 and are listed on the Indonesia Stock Exchange and Companies that have published annual financial reports on the IDX from 2016 to 2020. The research variables used are capital structure, company size, profitability, foreign investor ownership, government ownership, and institutional ownership. The research results show that the variables of company income and ownership investors have no significant influence on the dynamics of the company's capital structure. Meanwhile, domestic institutional ownership and company profitability have an influence which is significant to the company's capital structure. There are differences in power, the influence of variables on the company's ability to generate income, investor ownership, and foreign and domestic institutional ownership between companies with share ownership by foreign investors and companies that only have domestic institutions.
Production Planning Analysis Using Forecasting and Aggregate Planning Methods Silvia, Khurin; Juwita, Himmiyatul Amanah Jiwa
Jurnal Kewirausahaan dan Inovasi Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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

Abstract

The declining trend in demand for cakes has not been accompanied by changes in production quantities, which still refer to production levels from previous periods, resulting in many unsold products. This has led to suboptimal production cost utilization. This study aims to assist performing production planning using the best forecasting method and aggregate planning strategy to optimize production costs. In this quantitative descriptive study, the analyzed forecasting methods include naive, moving average, weighted moving average, exponential smoothing, and least squares. Meanwhile, the analyzed aggregate planning strategies are the level strategy and the chase strategy. The results show that the least squares is the best forecasting method for cake products, with the smallest error values: MAD of 14, MSE of 300, and MAPE of 9.58, forecasting demand for the next period at 99 cakes. Furthermore, the chosen aggregate planning strategy to forecast demand for the upcoming period is the chase strategy, where the production levels are adjusted to meet demand in each period, resulting in total production planning costs of IDR 18, 809,500.00. Additionally, the production planning costs calculated using the level strategy amount to IDR 20,857,000.00.
The Influence of Organizational Culture and Human Capital on Employee Performance by Mediating Organizational Climate Hafidzi, Muhammad Ridho; Setiawan, Margono; Juwita, Himmiyatul Amanah Jiwa
Journal of Management Economic and Financial Vol. 2 No. 1 (2024): Journal of Management, Economic and Financial
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46799/jmef.v2i1.17

Abstract

This study was conducted to analyze the influence of organizational culture on employee performance and human capital on employee performance with organizational climate. as mediation. Employees totaling 196 people were respondents in this study using saturated sample techniques. Data collection methods using questionnaires and analyzed using Warp PLS. The results of this study show that organizational culture does not have a significant effect on employee performance, while human capital has a significant effect on employee performance. Furthermore, organizational climate mediates the relationship of organizational culture to full employee performance and organizational climate mediates human capital to employee performance partially.