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PENGARUH FINANCIAL SLACK TERHADAP KINERJA PERUSAHAAN STUDI PADA PERUSAHAAN-PERUSAHAAN MANUFAKTUR YANG TELAH GO PUBLIC DI BURSA EFEK INDONESIA Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 15. No. 2 Tahun 2015
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (317.307 KB) | DOI: 10.54367/jmb.v15i2.101

Abstract

The relationship between financial slack with the company's performance is not clear. Therefore, this issue more interesting to study. Financial slack can be grouped into two types: available slack and potential slack. Therefore, this study is intended to clarify the effect of available slack and potential slack to company performance. To achieve this aim, used a linear regression equation. The study focused on companies listed on Indonesia Stock Exchange by using purposive sampling technique in sampling research so that the sample size were 112 companies. The data used in this research is secondary data with observations in the period 2008-2010. To explain the effect of financial slack on the performance of companies used the t and F test with α by 10 percent. Based on the analysis and discussion, some conclusions as follows: Firstly, available slack and potential slack have significant negative effect on the performance of the company. Second, the greater the slack of the company, there is a tendency that corporate leaders will tend to use the slack to fulfill its interests. Based on the above conclusions, some suggestions as follows: Firstly, if the company's performance would be improved, financial slack needs to be lowered to a level that is needed. Second, the results of this study can be used as a basis for regulators to make regulations to improve the quality of corporate governance of the corporation. Third, further research is needed by differentiating the sample of companies over companies that implement good corporate governance and corporate governance is not good.
ANALISIS PENGARUH FAKTOR FUNDAMENTAL DAN PASAR TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA Karo-Karo, Anastasia F.; Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 15. No. 2 Tahun 2015
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (591.726 KB) | DOI: 10.54367/jmb.v15i2.102

Abstract

This study aimed to analyze the influence Earning Per Share, Return on Equity, Book Value, Growth Company and market factors, namely Capitalization Rate on stock price on manufacturing companies listed in Indonesia Stock Exchange. The object of this research is manufacturing companies listed in Indonesia Stock Exchange 2010-2012 period who actively publish the financial statements in the period of observation. In this study, the data collected is of secondary data is data obtained indirectly from the object of research. Therefore, in this study the data capture technique using the documentation techniques. The procedure of sample selection is purposive sampling and analysis model used is the Multiple regression to test the hypothesis that the t test and F test and also performed classical assumption. The results showed that the Earning Per Share, Return on Equity, Book Value positive and significant effect on stock prices and capitalization rates and a significant negative effect on stock prices. Based on the test results indicate that simultaneous Earning Per Share, Return on Equity, Book Value, Growth companies and capitalization rates affect stock prices. Variations independent variable Earning Per Share, Return on Equity, Book Value, Growth companies and capitalization rate is able to explain the variation in stock prices by 95.64%.
PENGARUH STRUKTUR KEPEMILIKAN SAHAM TERHADAP KEBIJAKAN DIVIDEN (STUDI PADA PERUSAHAAN-PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA) Purba, Saut; Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 15. No. 2 Tahun 2015
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (211.713 KB) | DOI: 10.54367/jmb.v15i2.106

Abstract

Dividend policy is an interesting theme in financial research. The dividend policy often used to reduce conflicts of interest between shareholders and managers. Therefore, would be argued that the ownership structure affect the dividend policy. This study aims to: First, to explain the ownership structure and dividend policy. Second, to obtain the empirical evidence about the impact of ownership structure on dividend policy by used size, capital structure and profitability of the firm as control variables. The study was conducted in Indonesia Stock Exchange using the 198 companies as samples and use multiple regression as an analytical tool. Based on the results of the study suggested that: First, the institutional ownership before and after the control variables included positive and significant effect on the dividend payout ratio. Second, managerial ownership before and after the control variables included no significant effect on the dividend payout ratio. Third, the size of the company have significant positive effect on the dividend payout ratio. Fourth, capital structure and profitability of the firm has no significant effect on the dividend payout ratio.
PERBAIKAN IKLIM BERINVESTASI UNTUK MENINGKATKAN ARUS MASUK NET PENANAMAN MODAL Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 10 No. 2 Tahun 2010
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v10i2.108

Abstract

From the time that the crisis of economy at the year 1997, the flows of the net capital investment in Indonesia is low or negative for some period. Thus, the Government is difficulty to realized the target of economic growth at the year 2010. The capital investment is the decisive factor that influence economic growth to compare with the other fiactors. Thus, the capital investment is the important facctor to achieved the target of economic growth. The role of the capital investment is difficulty to create if the problems of the climate if the capital investment like that bureaucracy, grease money, and the implementation of autonomy area did not to solve immediately. This paper aims to describes and discuss how to improve the climate of the capital investment to increased the flows of the net capital investment. If the climate of the capital investment in Indonesia to improve, so the flows of the net capital investment is increase and then the economic growth increase too. By the way, the government and the local goverment necessary to improve the climate of the capital investment with implementation of the policy with to give lots of the facilities, ease to investment, and the incentives to investor with mapping the industry if Indonesia.
KUALITAS PASAR OBLIGASI KORPORASI INDONESIA Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 11. No. 1 Tahun 2011
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v11i1.114

Abstract

lndonesia corporate bond market development can he done from various aspects, among others, through the stability and improvement of macroeconomic indicators, improving the quality of financial infrastructure, and improving the quality of the corporate bond market. This study aimed to describe the quality Indonesian corporate bond market based transaction costs approach. Therefore, the quality of the corporate bond market in this study manifested by transaction costs and decomposition of transaction costs (information friction and real friction). Based on the estimation of transaction costs and decomposition of transaction costs, regulators and market managers can create a variety of policies to improve the quality of the corporate bond market. To achieve these goals, the data used were corporate bond registered and transacted in the bond market and the sources of data from Securities Division reported OTC-FIS (Over the counter – Fixed Income Service). The research samples were 2336 observations using the purposive sampling technique to gather samples. The data were analyzed using the multiple regression equation. The research indicates that: First, transaction costs ty’ corporate bond is 0-798 with t-statistic is 31.964. Second, the contribution of information friction againts transaction cost is 45.1 percent with t-statistic is 18.20. "third, the contriliution real friction againts transaction cost is 14.2 percent with t-statistic is 5.71. Fourth, the information friction have the greater contribution to transaction cost with or without the classification of sample. Fifth, in the change of bond price segmentation, the contribution of information friction increases with the increase of the change of bond price. With reference to the research results, the quality of the corporate bond market can he improved by lowering the transaction costs in trade mechanism. Transaction costs can be reduced through increased transparency and improved the trading niechanisni of corporate bond market. Furthermore, the result if this research can be used by investors in creating portfolios and holding periods and for bond emitters in issuing bonds.
DEKOMPOSISI TRADED SPREAD SAHAM DI BURSA EFEK INDONESIA: ORDER PROCESSING COST, INVENTORY HOLDING COST, DAN ADVERSE SELECTION COST Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 16 No. 1 Tahun 2016
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v16i1.121

Abstract

Stock market performance can be viewed from various aspects. One of this aspect is the amount of traded spread. The greater of traded spread can be caused by a lack of trading system and disclosure. Therefore, the decomposition of traded spread is important for the study. This research was conducted to develop a model of traded spread and prove that: the order processing cost, inventory holding cost, and adverse selection cost are the component of traded spread. To achieve these objectives, the stock price and order flow observed during the years 2007 - 2008 and using the purposive sampling as the sampling technique. Samples were observed at 1.782 and using trade indicators to determine whether the transactions undertaken based on the ask price or bid price. The data were analyzed using the multiple regression. The research indicated that: First, the model of traded spread can be used to explain the decomposition of traded spread. Second, the contribution of order processing cost is 29 per cent, the contribution of inventory holding cost is 68 per cent, and the contribution of adverse selection cost is 3 percent. Third, the contribution of adverse selection cost is relatively low when compared with the contribution of real spread. Furthermore, the results of this study can be used to determine the policies in reducing of traded spread.
PENGARUH KEPEMILIKAN INSTITUSIONAL TERHADAP KARAKTERISTIK PASAR SAHAM DI BURSA EFEK INDONESIA Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 16 No. 2 Tahun 2016
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v16i2.128

Abstract

The role of institutional ownership in the financial markets became very important. However, until today there is no consensus among researchers about the influence of institutional ownership on the characteristic of stock market. Therefore, researchers are motivated to conduct further research the influence of institutional ownership on the characteristic of stock market. The research conducted at the Indonesian Stock Exchange with traded spread and adverse selection costs as dependent variable and institutional ownership as independent variable. In addition to institutional ownership, also used standard deviation of common stock price and trading volume as a control variable to clarify the relationship of institutional ownership on the characteristic of stock market. The study was conducted on 120 firms with observations in the period 2010-2011. All the required data obtained from the Indonesian Capital Market Directory. The results showed that: First, institutional ownership has a negative and significant effect on traded spread. Second, the variability of traded spread is able to be explained by the variability of institutional ownership, standard deviation of the stock price, and trading volume 24.8 percent. Third, institutional ownership has a negative and significant effect on adverse selection costs. Fourth, the variability of adverse selection costs is able to be explained by the variability of institutional ownership, standard deviation of the stock price, and trading volume 26.2 percent. Fifth, the relationship between institutional ownership to traded spread and adverse selection cost before and after entering the control variables remain negative and significant.
PENGARUH KEPEMILIKAN INSIDER DAN KEPEMILIKAN INSTITUSIONAL TERHADAP DIVIDEND PAYOUT RATIO DENGAN MEMPERGUNAKAN STRUKTUR MODAL SEBAGAI VARIABEL KONTROL PADA PERUSAHAAN YANG GO PUBLIC DI BURSA EFEK INDONESIA Paulina, Sonti; Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 16 No. 2 Tahun 2016
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v16i2.131

Abstract

This study aimed to examine the effect of ownership structure on dividend policy on companies that go public in Indonesia Stock Exchange in 2012-2013 with a sample of 54 companies. Data were obtained from the Indonesian Capital Market Directory (ICMD) and the Indonesia Stock Exchange website. There are two equations developed in this study. The first equation to examine the effect of the company's ownership structure on dividend policy. While in the second equation entered the control variables, namely the debt-to-equity ratio to test the consistency of the company's ownership structure influence on dividend policy. Techniques using multiple linear regression analysis and hypothesis testing statistical t and F statistics. Hypothesis test results indicate that the stock insider ownership variable significant negative effect on the company's dividend policy, while the institutional ownership variables significant negative effect on dividend policy. Taken together the ownership structure share a significant effect on the company's dividend policy which go public in Indonesia Stock Exchange. Adjusted R2 values after admission control variable increased from 0,053 to 0,044 be inferred variable debt to equity ratio is a variable that helps to explain the variation in the dividend policy of the company went public in Indonesia Stock Exchange.
PENGARUH VOLUME PERDAGANGAN SAHAM DAN HARGA SAHAM TERHADAP BID-ASK SPREAD STUDI PADA PERUSAHAAN-PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA Nainggolan, Ruminsar; Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 16 No. 2 Tahun 2016
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v16i2.132

Abstract

ABSTRACT The purpose of this study is to determine the effect of stock trading volume and stock prices on bid-ask spreads on manufacturing companies listed on the Indonesia Stock Exchange. The population in research is 155 companies and by using purposive sampling as sampling technique, then the sample in this research is 46 company. The data used are secondary data and use multiple regression equation as an analytical tool. Based on the results of the research it can be argued that, trading volume and stock prices have a negative and significant effect on the bid-ask spread both before and after the data grouping. The results also show that stock trading in Indonesia Stock Exchange is liquid. Investors or potential investors who want to invest in the capital market should make trading volume and stock price as a reference in making investment decisions, because simultaneously these two variables have a significant effect on bid-ask spreads.
PENGARUH PROMOSI MEDIA SOSIAL DAN KUALITAS PELAYANAN TERHADAP KEPUTUSAN PEMBELIAN KONSUMEN PADA SOSMED CAFE ABDULLAH LUBIS MEDAN Barus, Clara Silvina; Silalahi, Donalson
Jurnal Manajemen dan Bisnis Vol 21 No. 1 Tahun 2021
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v21i1.1182

Abstract

Abstract This study aims to determine and explain the effect of social media promotion and service quality on purchasing decisions. To achieve this goal, research was conducted at Social Media Café Abdullah Lubis using 100 people as respondents. Data were collected through questionnaires and the analysis technique used was multiple linear regression analysis. The results showed: First, social media promotion has a positive and significant effect on purchasing decisions. Second, service quality has a positive and significant effect on purchasing decisions. Third, service quality plays a greater role in increasing the sensitivity of consumer purchases when compared to social media promotion. Fourth, consumer characteristics are also important variables in increasing consumer decisions in buying products. Fifth, social media promotion and service quality are able to explain variations in purchasing decisions by 87.7 percent.