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ANALISIS PENGARUH EARNING, CASH FLOW, NILAI BUKU, DAN NILAI PASAR TERHADAP PERGERAKAN STOCK RETURN PADA SAHAM LQ-45 DI BURSA EFEK JAKARTA Muhammad Zilal Hamzah
Media Riset Akuntansi, Auditing & Informasi Vol. 7 No. 1 (2007): April
Publisher : LEMBAGA PENERBIT FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS TRISAKTI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (917.701 KB) | DOI: 10.25105/mraai.v7i1.925

Abstract

The objective of this study is to know the relationships and significant effect between earning, cash flow, book value and market value toward stock return. The samples for this study consist of 26 companies that consistently exist in LQ-45 in Jakarta Stock Exchange.A multiple linear regressions is used to determine whether independent variable effect significantly. This study shows that earning and cash flow positive and significantly affect stock return. Book value is positive and insignificant affect stock return. Meanwhile, market value is significantly but negative relation with stock return. This study also find the low earning growth and high earning growth of firms affect to stock return. The finding of this study also suggest that more external various factors can be consider in influence stock return.Keywords: earning, cash 'low, book value, market value, stock return.
DOES FINANCIAL STATEMENT PUBLICATION EFFECT STOCK PRICE OF LQ-45 AT JAKARTA STOCK EXCHANGE Muhammad Zilal Hamzah; Ihsanul Fatta
Indonesian Management and Accounting Research Vol. 6 No. 2 (2007)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (142.657 KB) | DOI: 10.25105/imar.v6i2.967

Abstract

This article is purposed to know empirically wheather there is difference between stock price before and after the publicizing of financial statement of LQ-45 companies, listing at Jakarta Stock Exchange. Sample and data used in this analysis is all LQ-45 companies and 10 days stock price before and after financial statements are published. The finding shows that six variables such as return on equity, return on investment, price book value, price earning ratio, quick ratio and current ratio have significant and insignificant relationship toward stock price. According to the estimation can be concluded that all of those variables influence stock price 99.5% and however, most investor at Jakarta Stock Exchange are not consider to fundamental and internal factors in decision making process to buy or to sell a stock.Jel Classification: Keywords: Financial Statement, LQ-45 Stock Price
THE EFFECT ANALYSIS OF MACRO-ECONOMIC VARIABLES TOWARD INDONESIAN ISLAMIC STOCKS RETURN Muhammad Zilal Hamzah; Tubagus Irmansah; Isnaini Mukti Azis
Indonesian Management and Accounting Research Vol. 13 No. 2 (2014)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (932.194 KB) | DOI: 10.25105/imar.v13i2.1158

Abstract

 This study aims to determine the effect of macroeconomic variables on returns of Indonesian Islamic stocks (Jakarta Islamic Index). The sample data uses are returns of the Islamic stock index from 2005:01 - 2010:04. This study uses Ordinary Least Square (OLS) method and the application of panel data to assess the existence of any effect of the macroeconomic variables on stock returns of the Indonesian Islamic stocks. The results of this study exhibit that the Islamic stock returns are significant simultaneously, but insignificant partially.Keywords: macroeconomic variables, Islamic stock returns 
THE EFFECT OF LOCAL AUTONOMY POLICY AND BUDGET ALLOCATION TOWARD THE CAPITAL EXPENDITURE SHARE IN INDONESIA Muhammad Zilal Hamzah; Tatok Djoko Sudiarto
Indonesian Management and Accounting Research Vol. 13 No. 1 (2014)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1042.507 KB) | DOI: 10.25105/imar.v13i1.1164

Abstract

Today, regional autonomy policy in Indonesia has been running for 12 years. This policy is generally expected to bring a good change to the Indonesian macroeconomics conditions and in particular for the regional economy, can be more independent in the revenue and in the allocation of the budget, which in turn is expected to improve the welfare of its people. This study aimed to examine the effect of regional autonomy, the budget allocation for education, health, housing, foreign aid, tax and salaries share toward the capital expenditure share. This study uses panel data by years of research 1990 - 2011 and consists of a cross section 26 provinces. Based on the results of the study by using a random effect model, statistically the result find the budget allocation for education, housing, health, salaries, foreign aid has a significant effect on the share of capital expenditure, while for regional autonomy and tax share has no effect a significant share of the capital expenditure.Keywords: regional autonomy, the capital expenditure share.
Searching for Saving Effects of Fiscal Policy : Evidence from Muslim Countries Muhammad Zilal Hamzah; Abd. Ghafar b. Ismail
Indonesian Management and Accounting Research Vol. 12 No. 2 (2013)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (701.544 KB) | DOI: 10.25105/imar.v12i2.1169

Abstract

The studies on the effects of fiscal policy on the macroeconomic variables are well documented. But, the focus is only concentrated on interest rates, consumption, investment and economic growth. Based on a panel data model, this paper investigates whether the fiscal policy has an effect on national saving in Muslim countries. We will show that the response of national savings to fiscal policy are not limited to large fiscal contractions, but also, high or rapidly growing public debt may appear to be a good predictor of those affects. We also find that, in Muslim countries, the size and significance of the interaction terms are again stronger during expansions than during contractions.JEL classification: E21; E62; H31Keywords: fiscal policy; national saving; Muslim countries
DYNAMIC PATH OF WORKING STATUS CATEGORY IN INDONESIA : A TAWHID STRING RELATION (TSR) PERSPECTIVE Muhammad Zilal Hamzah; Jadi Suriadi
Indonesian Management and Accounting Research Vol. 11 No. 1 (2012)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1094.781 KB) | DOI: 10.25105/imar.v11i1.1177

Abstract

The core objective of this paper is to show and evaluate evidence of working status of people under labor forced in Indonesia within one and half decade recently. As well understood that labor forced had been classified under working status category namely self employment, micro-entrepreneurs, medium and large entrepreneurs formal employed, informal employed and unemployment. Methodology of tawhid string relation (TSR) called to elaborate, identify and evaluate the cased in holistic manner under light of Oneness of God.Design/Methodology/approach-This paper presents the data of Indonesian semi annual labor forced survey from National Statistic Bureau (BPS) within 1994 to 2011. The collected data, quantitatively is presented into working status category. It will be evaluated by TSR method.
The Analysis of Determinant Factors of Poverty And Its Effect Toward Economic Development of Islamic Society : Case Study at Serdang Bedagai Regency At North Sumatera Province Muhammad Zilal Hamzah; Zainuddin Siregar
Indonesian Management and Accounting Research Vol. 11 No. 1 (2012)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (770.159 KB) | DOI: 10.25105/imar.v11i1.1179

Abstract

in the last two decades. Indonesia has experienced contrasting episodes in terms of economic growth and changes in the pm erty rate. Prior middle 1980s until middle 19903. Indonesia experienced a high economic growth and a rapid reduction in poverty. During the economic crisis period of 1997-1999, however. the economy contracted substantially and poverty increased signit‘lcantly. wiping out many years of progress. Post-crisis. economic growth slowly recovered. but the poverty rate declined much faster falling to below the pre-crisis level. These contrasting episodes of growth and poverty trends provide the opportunity to empirically assess the relationship between economic development and poverty. Study of this relationships. usually divide the economy into three sectors: agriculture. industry. and services. The mechanism ofthe relationships between economic development and change in poverty must be better understood in order to formulate the most effective strategy for poverty reduction through macroeconomic policy. Therefore. this research tries to examine more specific than previous studies. that is the effect ofdetemiinant factors (such as: level of fonnal education. level ofsocial economic. agriculture land ownership. lslamicjob tradition) ofpm erty toward economic development. This research is done at Serdang Bedagai Regency at North Suimatera Province. The research hypothesis states that [m el of formal education and agriculture land ownership effect economic development significantly. Otherwise. level of social economic and Islamic job tradition insignificantly effect economic developmentKeywords: level of formal education. level of social economic. agriculture land ownership. Islamic job tradition, poverty. economiy development.
Fiscal Decentralization Generates Economic Growth: Evidence from Province-Level Cross-Section Data for Indonesia Jhon Talbu Ritonga; Muhammad Zilal Hamzah
Indonesian Management and Accounting Research Vol. 5 No. 1 (2006)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (973.611 KB) | DOI: 10.25105/imar.v5i1.1270

Abstract

Recently, fiscal decentralization, which involves the devolution of government fiscal responsibilities to lower levels of government, has been discussed in many developed and developing countries. In particular, the effect of fiscal decentralization on economic growth is a key issue in recent theoretical and empirical studies in public finance. The empirical evidences produce mixed results. In this study, the effect of fiscal decentralization on economic growth in a sample of several provinces will be explored. A province study offers several advantages: a bigger sample of data is available for province than for Indonesia; and panel data estimation is able to adjust the cultural, historical, and institutional differences and also to capture the local heterogeneities. By adopting a production-function-based estimation framework, the empirical estimation is done on a sample of cross section data that comprises of 26 province governments and the time series yearly data from 1992 to 2002. The Generalized Least Square method is used to test these data. The results indicate that: first, the fiscal decentralization variables (expenditure indicator) show the positive and significant coefficients, while, the revenue indicator shows the negative relationship with economic growth. Hence, several policy implications can be derived; i.e, the local government should be able: to increase their non taxes revenues; to create conducive conditions for capital inflows; and to develop a clear framework for fiscal decentralization assignment such as income redistribution and borrowingJEL classification: E60; E62; H62; H63; 04Keywords: province government financing; fiscal decentralization;localautonomy;fiscal policy; economic growth; cross-province data;
Peluang Sumber Pendanaan Bisnis pada Sekolah Kewirausahaan Bina Amanah Cordova Lidia Wahyuni; Eleonora Sofilda; Shafrani Dizar; Muhammad Zilal Hamzah
Dirkantara Indonesia Vol. 1 No. 1: Maret-Agustus 2022
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/di.v1i1.17

Abstract

ABSTRAK Tujuan dari kegiatan Pengabdian kepada Masyarakat (PkM) yang dilaksanakan di Sekolah Kewirausahaan Bina Amanah Cordova ini adalah untuk memberikan pendidikan dan pelatihan bagaimana memanfaatkan peluang sumber pendanaan bisnis untuk membuat ataupun mengembangkan usaha bagi para calon pelaku usaha. Selain itu kegiatan ini juga bertujuan bagi para dosen Fakultas Ekonomi dan Bisnis (FEB) Universitas Trisakti sebagai bentuk pelaksanaan tugas Tridharma Perguruan Tinggi yang memberikan manfaat kepada masyarakat untuk meningkatkan usahanya dalam kondisi Pandemi Covid-19 ini. Metode pelaksanaan kegiatan adalah metode pelatihan, diskusi dan wawancara terstruktur kepada para peserta. Selain itu dilakukan pengisian kuesioner untuk analisa lanjutan. Berdasarkan dari hasil diskusi awal diketahui bahwa masih terdapat beberapa peserta yang belum memanfaatkan sumber pendanaan bisnis yang. Hal ini dikarenakan para peserta belum mengetahui konsep dasar sumber pendanaan bisnis. Setelah kegiatan ini dilaksanakan para peserta memiliki pengetahuan mengenai sumber pendanaan bisnis yang dapat dimanfaatkan untuk kegiatan usahanya. Harapan dari pelatihan ini, para peserta kedepannya dapat melanjutkan usaha dengan memanfaatkan sumber pendanaan bisnis dan melihat segala peluang yang ada. Kata Kunci: Modal Usaha, UMKM ABSTRACT The purpose of this Community Service (PkM) activity held at the Bina Amanah Cordova Entrepreneurship School is to provide education and training on how to take advantage of opportunities for business funding sources to create or develop businesses for prospective entrepreneurs. In addition, this activity is also aimed at lecturers of the Faculty of Economics and Business (FEB) of Trisakti University as a form of implementing the Tridharma of Higher Education tasks that provide benefits to the community to increase their business in the conditions of this Covid-19 Pandemic. The method of implementing the activity is the method of training, discussion and structured interviews with the participants. In addition, questionnaires were filled out for further analysis. Based on the results of the initial discussion, it is known that there are still some participants who have not taken advantage of the business funding sources. This is because the participants did not know the basic concepts of business funding sources. After this activity is carried out, the participants have knowledge about sources of business funding that can be used for their business activities. It is hoped that from this training, the participants will be able to continue their business in the future by utilizing business funding sources and seeing all the opportunities that exist. Keywords: Business Capital, MSMEs
Pengelolaan Keuangan yang Efektif pada Sekolah Kewirausahaan Bina Amanah Cordova Eleonora Sofilda; Muhammad Zilal Hamzah; Lidia Wahyuni; Shafrani Dizar; Kamila Ramadhani
Dirkantara Indonesia Vol. 1 No. 1: Maret-Agustus 2022
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/di.v1i1.18

Abstract

ABSTRAK Tujuan dari kegiatan Pengabdian kepada Masyarakat (PkM) yang dilaksanakan di Sekolah Kewirausahaan Bina Amanah Cordova ini adalah untuk memberikan pendidikan dan pelatihan bagaimana mengelola keuangan yang efektif bagi para pelaku usaha. Selain itu kegiatan ini juga bertujuan bagi para dosen Fakultas Ekonomi dan Bisnis (FEB) Universitas Trisakti sebagai bentuk pelaksanaan tugas Tridharma Perguruan Tinggi yang memberikan manfaat kepada masyarakat untuk meningkatkan usahanya dalam kondisi Pandemi Covid-19 ini. Metode pelaksanaan kegiatan PkM ini dilakukan melalui metode pelatihan, diskusi dan wawancara terstruktur kepada para peserta. Selain itu dilakukan evaluasi akhir untuk mengetahui keberhasilan kegiatan ini. Berdasarkan dari hasil diskusi awal diketahui bahwa masih terdapat beberapa peserta yang belum mengetahui bagaimana mengelola keuangan yang efektif. Hal ini dikarenakan belum mengetahui konsep dasar pengelolaan keuangan. Setelah kegiatan ini dilaksanakan para peserta memiliki pengetahuan mengenai pengelolaan keuangan yang efektif. Harapan dari pelatihan ini, para peserta kedepannya dapat melanjutkan usaha dengan pengelolaan keuangan yang lebih baik. Kata Kunci: Manajemen Keuangan, Laporan Keuangan Sederhana ABSTRACT The purpose of this Community Service (PkM) activity held at the Bina Amanah Cordova Entrepreneurship School is to provide education and training on how to manage finances effectively for business actors. In addition, this activity is also aimed at lecturers of the Faculty of Economics and Business (FEB) of Trisakti University as a form of implementing the Tridharma of Higher Education tasks that provide benefits to the community to increase their business in the conditions of this Covid-19 Pandemic. The method of implementing this PkM activity is through training methods, discussions and structured interviews with the participants. In addition, a final evaluation was carried out to determine the success of this activity. Based on the results of the initial discussion, it is known that there are still some participants who do not know how to manage finances effectively. This is because they do not know the basic concepts of financial management. After this activity was carried out the participants had knowledge of effective financial management. It is hoped that from this training, the participants will be able to continue their business with better financial management in the future. Keywords: Financial Management, Simple Financial Report