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Journal : Management Analysis Journal

ANALISIS KEBANGKRUTAN MENGGUNAKAN RASIO ALTMAN Z-SCORE Nuurillah, Nisaa’; Ardiansari, Anindya
Management Analysis Journal Vol 4 No 2 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i2.7790

Abstract

This research purposed in order to find out bankruptcy indication of listed in LQ-45 index and delisted companies in Indonesian Stock Exchange using Altman Z-Score. Research population are all listed and delisiting companies in Indonesian Stock Exchange, sample was chosen based on purposive sampling criteria. Among 23 sample companies in LQ45, there are 3 companies predicted as grey area in three years and there is a company predicted as grey area in one year and then predicted on bankrupt condition in the next two years. There are one company which predicted as bankrupt condition in three years. From 10 sample companies which was delisted from IDX, there is one company which predicted as healthy condition in two years, then predicted as bankrupt in the next year. There is a company which was predicted as grey area in one year. This case can be proven that Altman Z-Score ratio has high accuracy in bankruptcy prediction
PENGARUH CUSTOMER EXPERIENCE DAN CUSTOMER VALUE TERHADAP CUSTOMER LOYALTY MELALUI CUSTOMER SATISFACTION Hijjah, Risalatin; Ardiansari, Anindya
Management Analysis Journal Vol 4 No 4 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i4.8880

Abstract

The aims of this research are to analyze the direct and indirect influence of the customer experience, customer value and customer satisfaction on the customer loyalty at The Fountain Water Park & Resto. The sample size consist of 116 respondents with purposive judgement sampling through likert scale questionnaire. Percentage descriptive, multiple linier regression and path analysis were employed to analyze data. Significant results of this research indicate customer experience and customer value influence customer loyalty through customer satisfaction so can be concluded that mediation circuit occurs in this study. The conclusion of this research are proved that customer experience, customer value and customer satisfaction as the mediation influence by direct and indirect on the customer loyalty.
The Effect of Agency Conflict, Dividend Policy and Growth Opportunity as moderating variabel on Firm Value erfiana, deka; Ardiansari, Anindya
Management Analysis Journal Vol 5 No 3 (2016): Managemant Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i3.11531

Abstract

This study aims to investigate the effect of agency conflict on dividend policy (Dividend Payout Ratio), dividend policy and growth opportunity on firm value, and analyzing growth opportunity moderate the effect of dividend policy on firm value. The population are 72 manufacturing companies which is listed on Indonesia Stock Exchange (IDX) from 2012 until 2014. The sample are 24 companies using purposive sampling technique. The analysis method  in this study is a simple regression analysis and multiple regression analysis and Moderated Regression Analysis (MRA) to examine the effect of moderating variable. Firm value variable is proxied by Price Book Value (PBV), Agency conflict variable is proxied by Total Asset  Turnover (TAT), dividend policy variable is  proxied by Dividend Payout Ratio (DPR), and growth opportunity is proxied by the precentage of changes in total assets.The result show that agency conflict has positive significant effect on dividend policy, dividend policy has positive significant effect on firm value, growth opportunity has no significant effect on firm value, and growth opportunity as moderating variable can effect the relationship of dividend policy and firm value.
PENGARUH FAKTOR EKONOMI MAKRO DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN Agustina, Cahyati; Ardiansari, Anindya
Management Analysis Journal Vol 4 No 1 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i1.7203

Abstract

The aim of this research is to know the effect of macroeconomics factors and financial performance on corporate value of the manufacturing companies in Indonesia Stock Exchange on 2010-2012. Population in this research is manufacturing companies listed on Indonesia Stock Exchange in the period from 2010 until 2012. Number of sample that used in this research is 52 samples with purposive sampling method. Corporate value variable is proxied by Price Earning Ratio (PER), macroeconomics factors variable is proxied by inflation and exchanges rate, financial performance variable is proxied by Return on Equity (ROE) and Debt to Equity Ratio (DER). The analytical tool used is multiple regression analysis, using software SPSS 16.0. Based on the results of the study, it can be concluded that only DER has significant effect on corporate value of manufacturing companies in IDX on 2010-2012.
Analisis Faktor-Faktor yang Mempengaruhi Struktur Modal dan Harga Saham pada Perusahaan yang Tergabung dalam LQ 45 Periode Tahun 2011-2013 nisak, ngizzah khalwiyatun; Ardiansari, Anindya
Management Analysis Journal Vol 5 No 2 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i2.5567

Abstract

ABSTRACT This research was conducted in companies incorporated in the LQ 45. By using purposive sampling method was obtained 33 samples of companies from various sectors except banking sector. The analytical method used is multiple linear analysis using SPSS 19. In this study, there are two dependent variables, namely capital structure and stock price, as well as three independent variables are sales growth, profitability, and the debt ratio. The results showed that the growth in sales and a significant negative effect on capital structure, profitability does not significantly affect the capital structure, debt ratio and significant positive effect on capital structure, sales growth was not significantly affect stock prices, profitability and significant positive effect on prices stock, debt ratio does not significantly affect stock prices, capital structure does not significantly affect the stock price.
The Determinants of Capital Structure on Consumer Goods Company Period 2011-2014 Riyantina, Riyantina; Ardiansari, Anindya
Management Analysis Journal Vol 6 No 1 (2017): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v6i1.10581

Abstract

Struktur modal penting bagi perusahaan karena mempengaruhi nilai perusahaan secara langsung. Perusahaan memiliki struktur modal yang berbeda meskipun dalam industri yang sama. Penelitian ini bertujuan untuk mengetahui pengaruh struktur aktiva, leverage operasi, profitabilitas, ukuran perusahaan, risiko bisnis dan pertumbuhan penjualan terhadap struktur modal perusahaan. Populasi dalam penelitian ini adalah perusahaan consumer goods yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2011-2014. Teknik purposive sampling digunakan  untuk menentukan sampel. Hasil uji regresi linier berganda menunjukkan bahwa empat variabel independen yang mempengaruhi struktur modal yaitu struktur aktiva, leverage operasi, profitabilitas dan ukuran perusahaan. Sedangkan risiko bisnis dan pertumbuhan penjualan tidak berpengaruhi terhadap struktur modal. Kesimpulan dari penelitian ini yaitu struktur aktiva, leverage operasi dan ukuran perusahaan berpengaruh positif signifikan terhadap struktur modal. Profitabilitas berpengaruh negatif signifikan terhadap struktur modal. Risiko bisnis dan pertumbuhan penjualan berpengaruh positif tidak signifikan terhadap struktur modal. Saran yang disampaikan yaitu untuk memperhatikan komponen struktur modal, agar struktur modal perusahaan memiliki komposisi yang ideal. Hasil penelitian ini dapat dijadikan sebagai referensi penelitian selanjutnya.
Pemilihan Saham dan Waktu Perdagangan pada Reksadana Syariah Saham di Indonesia Maulana, Fajar; Ardiansari, Anindya
Management Analysis Journal Vol 7 No 1 (2018): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i1.17133

Abstract

Tujuan penelitian ini adalah untuk mengetahui kemampuan manajer investasi dalam pemilihan saham dan keputusan waktu pembelian saham  pada reksa dana syariah saham di Indonesia periode tahun 2012-2016. Populasi dalam penelitian ini adalah seluruh reksa dana syariah saham yang aktif diperjualbelikan pada periode tahun 2012-2016. Jumlah sampel yang digunakan dalam penelitian ini adalah 29 sampel dengan metode purposive sampling. Teknik analisis data yang digunakan yaitu regresi model Trynor-Mazuy Condition dengan memasukkan variabel makro yaitu nilai tukar dan jumlah uang beredar sebagai variabel prediksi. Hasil penelitian menunjukkan manajer investasi reksa dana syariah saham di indonesia tidak memiliki kemampuan pemilihan saham yang dibuktikan dengan hanya enam dari 29 reksa dana syariah saham yang memiliki α positif, namun dalam kemampuan keputusan waktu pembelian saham menunjukkan terdapat 21 dari 29 reksa dana syariah saham yang memiliki γpositif
Pengaruh Rasio Keuangan, Firm Size dan Market Effect terhadap Tingkat Kebangkrutan Nuranto, Ayang Aulia; Ardiansari, Anindya
Management Analysis Journal Vol 6 No 2 (2017): Management Analysis Journal
Publisher : Management Analysis Journal

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

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh rasio-rasio keuangan Loan to Deposit Ratio (LDR), Non Performing Loan (NPL), Biaya Operasional terhadap Pendapatan Operasional (BOPO), Capital Adequacy Ratio (CAR), Net Interest Margin (NIM) , firm size, dan market effect terhadap tingkat kebangkrutan bank dengan model Grover. Jumlah sampel yang digunakan dalam penelitian ini adalah 25 bank yang terdaftar di Bursa Efek Indonesia periode 2008-2015 dengan metode purposive sampling. Metode analisis data menggunakan analisis statistik deskriptif dan analisis regresi logistik. Hasil penelitian menunjukkan bahwa rasio Loan to Deposit Ratio (LDR), Capital Adequacy Ratio (CAR), dan firm size memiliki hubungan positif dan tidak signifikan terhadap tingkat kebangkrutan bank. Sedangkan rasio Non Performing Loan (NPL), Biaya Operasional terhadap Pendapatan Operasional (BOPO), Net Interest Margin (NIM), dan market effect memiliki hubungan negatif dan tidak signifikan terhadap tingkat kebangkrutan bank.
Peran Kebijakan Hutang Memediasi Business Risk dan Firm Size terhadap Nilai Perusahaan Darmanto, Tio; Ardiansari, Anindya
Management Analysis Journal Vol 6 No 4 (2017): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v6i4.18146

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh business risk dan firm size terhadap nilai perusahaan dengan kebijakan hutang sebagai variabel intervening. Populasi yang digunakan dalam penelitian ini adalah perusahaan property dan real estate yang terdaftar di Bursa Efek Indonesia (BEI) selama tahun 2011-2015. Penentuan sampel dilakukan dengan metode purposive sampling. Metode analisis data menggunakan analisis regresi linear berganda dan analisis jalur. Hasil penelitian menunjukkan bahwa business risk berpengaruh negatif terhadap kebijakan hutang, sedangkan firm size berpengaruh positif terhadap kebijakan hutang. Business risk berpengaruh negatif terhadap nilai perusahaan sedangkan firm size dan kebijakan hutang berpengaruh positif terhadap nilai perusahaan. Dengan menggunakan analisis jalur, kebijakan hutang hanya mampu memediasi pengaruh firm size terhadap nilai perusahaan
The Influence of Institutional Ownership, Profitability, Liquidity, Dividend Policy, Debt Policy on Firm Value Sukmawardini, Dewi; Ardiansari, Anindya
Management Analysis Journal Vol 7 No 2 (2018): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i2.24878

Abstract

The purpose of this study is to determine whether institutional ownership, Return on Assets (ROA), Return on Equity (ROE), current ratio (CR), dividend payout ratio (DPR), and debt to equity ratio (DER) affects the firm value. The population is manufacturing companies which is listed in Indonesia Stock Exchange period 2012-2016. The sample in this study is 14 companies with purposive sampling method. Firm value is proxied by Price to Book Value (PBV), profitability is proxied by Return on Assets  (ROA) and Return on Equity  (ROE), liquidity is proxied by Current ratio (CR), dividend policy is proxied by Dividend Payout Ratio (DPR), and debt policy is proxied by Debt to equity ratio (DER). Methods of data analysis using descriptive statistical analysis and multiple regression analysis by using a eviews 9 program. The result show that th institutional ownership, ROA, and DPR have no effect on firm value, ROE have positive effect on firm value, CR and DER have negative effect on firm value.
Co-Authors Achmadi, Taofan Ali Agung Wiyanto Ahmad Mundzir Ahmad Zaenuri Aldias Bahatmaka Alinda Witri Amanda Amal, Daffa Ikhlasul Amalia, Mila Apriyanti, Rita Arif Saputra, Arif Aryadi, Adellia Eky Bayu Bagas Hapsoro, Bayu Bagas Bogy Febriatmoko Budi Setiyana Cahyati Agustina, Cahyati Darmanto, Tio Darmanto, Tio deka erfiana, deka Diyono Ikhsan Dwi Agustina Dwi Cahyaningdyah Dwi Endah Pratiwi Dwi Handayani Dwi Handayani Eflita Yohana Erisa Aprilia Wicaksari Fafurida Fafurida Farid Ahmadi Fatah, Rizki Azhari Fidia Fibriana Fikri, Dzakiyya Nabilla Fitri Arum Sari Ghanis Putra Widhanarto Hendra Dedi Kriswanto, Hendra Dedi Hermawan Dwi Ariyanto Hidayat, Indra Nurul I Nyoman Sujana Ilyas Teguh Pangestu Irnin Miladdyan Airyq Isnani Isnani Istanti, Fredianaika Isti Hidayah Iswarini, Tika Iswarini, Tika Khoiron, Ahmad Mustamil Lilo, Angela Nathasia Grace Maknun, Lu’lu’atul Margunani, Margunani Mayangsari , Effelie Dewi Moh. Khoiruddin Mohamad Endy Y Yulianto Murni Murni Nawangsari, Lintang ngizzah khalwiyatun nisak, ngizzah khalwiyatun Nisaa’ Nuurillah, Nisaa’ Noor Aini Habibah Nuranto, Ayang Aulia Nuranto, Ayang Aulia Nurlaeli Sri Purnomowati Nurul Fibrianti Nury Ariani Wulansari Paramita, Niken Diah Permatahati, Martinda Intan Prapti NSS, Rr Lulus Prasdika, Tegar Oki Prasetyo, Irawan Prihandono, Dorojatun Rachmadi, Moch Faizal Rina Rachmawati Rini Setyo Witiastuti Risalatin Hijjah, Risalatin Riyantina, Riyantina Riyantina, Riyantina Rizky Wahyu Saputro Sandi Pratama , Fajar Rizqi Sari, Ayuk Nurmalita Sari, Linda Sari, Ririn Amelia Siti Nur Jannah Siti Nur Jannah Siti Ridloah Sukmawardini, Dewi Sukmawardini, Dewi Sunyoto Sunyoto Suprapti Suprapti Suprapti, Duhita Driyah Suryaningrum, Lubuk Novi Susiana Purwantisari TATI NURHAYATI Wahidah, Siti Asroliatun Waluyo, Soleh Adi Widi Widayat Widia, Syam Widyakto, Adhi Windiahsari, Windiahsari Wulandari, Sukma Aulia Y. Ulung Anggraito Yohanes Suhardjo