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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

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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
Capital Markets Reaction towards 2014 Working Cabinet Announcement (Indonesian Case Study) Ardiansari, Anindya; Saputra, Arif
JDM (Jurnal Dinamika Manajemen) Vol 6, No 1 (2015): March 2015 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v6i1.4297

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The purpose of this study is to examine the market reaction regarding the announcement of working cabinet following the election of Jokowi as the President of Indonesia. Political events such as presidential election, government change, cabinet announcement, and other events are very influential towards price and trade volume at the stock exchange since the political events are closely related to the state economy stability. The Sample in this study is stock which was listed as issuers in Indonesia Stock Exchange (IDX) which included in LQ45 company group during this research period from 20 October 3 November 2014. The result shows that there was significant effect towards abnormal return difference before and after the cabinet announcement on the companies listed in LQ 45. The existence of this significant difference means that market reacted with the cabinet announcement event.
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.
The Effect of Ownership Structure, Profitability, Firm Size and Tangibility on Capital Structure Iswarini, Tika; Ardiansari, Anindya
Management Analysis Journal Vol 7 No 4 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i4.23478

Abstract

The important decision faced by financial management which relates to the continuity of company operations is funding decision which is capital structure. Capital structure achieves optimal value if the composition of debt and capital are able to increase company value. The purpose of this research is to examine the effect of ownership structure, profitability, firm size, and tangibility against capital structure (research on manufacturing companies listed on Indonesia Stock Exchange period 2012-2016). The population in this research were all manufacturing companies listed on the Indonesia Stock Exchange 2012-2016. This research used purposive sampling method with certain criteria to determine the sample. The sample used was 38 companies with the research period 2012-2016 at manufacturing companies listed on the Indonesia Stock Exchange. Multiple regression analysis using Eviews 8 was used to analyze the data. The result of multiple linear regression test showed that there were three independent variables that affect capital structure they were managerial ownership, firm size and tangibility. Whereas institutional ownership and profitability did not affect the capital structure of manufacturing companies in 2012-2016. The conclusion of this research is managerial ownership, firm size and tangibility have positive and significant effect on capital structure, while institutional ownership and profitability have negative and insignificant effect on capital structure.
The Effect of Board of Commissioners and Independent Commissioners on Agency Cost through Capital Structure Wahidah, Siti Asroliatun; Ardiansari, Anindya
Management Analysis Journal Vol 8 No 1 (2019): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v8i1.23384

Abstract

Different interests between managers and shareholders can emerge agency conflicts resulting agency costs. The aim of this study is to determine the effect of board of commissioners and independent commissioners to agency cost through capital structure. This study was conducted on companies incorporated in the LQ45 Index listed on the BEI 2012-2016. The number of samples based on purposive sampling method is 24 companies or 120 analysis units. Multiple regression analysis and path analysis using Eviews 9 were used for methods of data analysis. The results showed that board of commissioners have positive and insignificant effect on capital structure, while independent commissioners have positive and significant effect on capital structure. The capital structure has a negative and significant effect on the agency cost proxied by asset utilization ratio, board of commissioners has a negative and insignificant effect on the agency cost proxied by asset utilization ratio, whereas the independent commissioner has a positive and significant effect on the agency cost proxied by asset utilization ratio. By using path analysis, capital structure is unable to mediate the effect of board of commissioners and independent commissioners against agency cost.
The Effect Of Good Corporate Governance Towards Company Financial Performance Agustina, Dwi; Ardiansari, Anindya
Management Analysis Journal Vol 8 No 2 (2019): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v8i2.24129

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The aims of this study were to describe and analyze the effect of good corporate governance on company financial performance. The population in this study was companies listed as participant of corporate governance perception index during the period 2010-2016. The sample in this research was 105 observations which consisted of 15 companies and observation through purposive sampling method which was based on certain criteria. Analysis technique which was used in this research was simple linear regression analysis with eviews 9 program. The results of this research indicated that good corporate governance had insignificant positive effect on company financial performance. The adjusted R Square value was 0.252689 showed the ability of good corporate governance variable to explain company financial performance that was 25.27% while the rest was 74.73% could be explained by other variables. 74.73% (100% -25.27%). The conclusion of this research is GCG variable has no significant effect on company financial performance. Suggestion for company management should maintain its rate on CGPI. For the investors before investing, investors should choose companies that have good CGPI ratings. For the next researcher should replace or add other research variables, such as capital structure and financial statements quality.
The Influence of Utilitarian Value and Hedonical Values on Customer Loyalty through Customer Satisfaction Sari, Ayuk Nurmalita; Ardiansari, Anindya
Management Analysis Journal Vol 8 No 2 (2019): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v8i2.26061

Abstract

This study aims to determine the direct indirect influence of utilitarian value, hedonic value and customer satisfaction as an intervening variable on customer loyalty. The population of this research is customer of D?Bill Coffee & Resto. The number of sample is 107 respondents with purpose sampling technique through likert scale questionnaire. Data analysis using descriptive percentage and path analysis. The results show that utilitarian value affect customer loyalty, hedonic value affect customer loyalty and customer satisfaction influence customer loyalty and mediate the influence of utilitarian value and hedonic value on customer loyalty.
IbM.KELOMPOK INDUSTRI SERBUK INSTAN JAMU DAN MINUMAN KESEHATAN DI UNGARAN, KABUPATEN SEMARANG Handayani, Dwi; Ikhsan, Diyono; Murni, Murni; Ardiansari, Anindya
METANA Vol 10, No 02 (2014): Desember 2014
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1022.378 KB) | DOI: 10.14710/metana.v10i02.11046

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Abstract UMKM" TigaDara " which is located at Jl . UripSumoharjo 45 and UMKM " Berliana " address at 7 Kuncen New jl.ApelUnggaran - Kab.Semarang an economically productive UMKM as micro businesses , with a production of herbs or a health drink in the form of instant powder and liquid beverages . Early in its development , the effort focuses on the various processing plants living pharmacies ( empon - empon ) are made ​​into a variety of herbs and health beverages in an instant form , for example : instant ginger , white turmeric , saffron , turmeric, tamarind , Mahkotadewa , etc. . During this production process  been conventional and instant powders produced by high sugar levels that can not be consumed by diabetics . Given that in order to produce sugar -free powder that requires technology and modern processing equipment , namely the granulation process , it is necessary to support the introduction of technology and the granulation equipment . While UD Berliana now more concentrated on liquid products requiring wringer empon - empon that can operate mechanically with greater capacity and semi-continuous operation . Given that during the management system implemented is still a family management , then with the development of business and the broader marketing outreach is necessary to improve management and use of the Web to expand their marketing reach . With the help of technology , equipment and granulation managemen as wringer and structuring the results of this activity can be rapidly growing SMEs . This is evident from the production capacity that was originally only 50 kg per day to 200 kg per day , followed by an increase in network marketing , and sales revenue . Keyword :Teknology, granulation, wringer, Web. Abstrak UMKM ”Tiga Dara” yang beralamat di jl. Urip Sumoharjo 45 dan UMKM ”Berliana” yang beralamat di jl.Apel No.7 Kuncen Baru Ungaran-Kab.Semarang merupakan UMKM  yang produktif secara ekonomis sebagai usaha mikro, dengan produksi berupa jamu atau minuman kesehatan dalam bentuk serbuk instan dan minuman cair. Selama ini proses pengolaahan dilakukan secara konvensional dan dihasilkan serbuk instan dengan kadar gula yang tinggi sehingga tidak bisa dikonsumsi oleh penderita diabetes. Mengingat bahwa untuk dapat memproduksi serbuk yang bebas gula memerlukan teknologi dan peralatan proses yang modern, yaitu dengan proses granulasi, maka perlu adanya bantuan pengenalan teknologi dan peralatan granulasi tersebut. Sedangkan UD Berliana sekarang ini lebih mengkonsentrasikan pada produk cair sehingga membutuhkan alat pemeras empon-empon yang dapat beroperasi secara mekanik dengan kapasitas yang lebih besar dan beroperasi secara semi kontinyu. Disamping itu, mengingat bahwa  selama ini sistem manajemen yang diterapkan masih merupakan manajemen keluarga, maka dengan semakin berkembangnya usaha dan semakin luasnya pemasaran diperlukan adanya penyuluhan perbaikan manajemen dan penggunaan Web untuk memperluas jangkauan pemasarannya. Dengan adanya bantuan teknologi, peralatan dan penataan manajemennya maka UMKM tersebut dapat berkembang pesat. Hal ini terlihat dari kapasitas produksi yang pada awalnya hanya 50 kg per hari menjadi 200 kg per hari yang diikuti dengan peningkatan jaringan pemasaran dan omset penjualannya. 8Kata kunci : Teknologi, granulator, pemeras, Web.
DETERMINANT OF FIRM VALUE IN PROPERTY, REAL ESTATE AND CONSTRUCTION SECTOR 2015-2017 Sari, Ririn Amelia; Ardiansari, Anindya
Management Analysis Journal Vol 8 No 3 (2019): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v9i3.33914

Abstract

This study aims to find empirical evidence of the effect of capital structure, institutional ownership and financial performance on firm value. The population in this study are service companies in the property, real estate and building construction sectors listed on the Indonesia Stock Exchange in 2015-2017. The total population of this study was 79 companies. After using a purposive sampling technique, the number of samples became 58 companies. Firm value is proxy with Price to Book Value (PBV), capital structure is proxy with Debt to Equity Ratio (DER), institutional ownership is proxy with the percentage of institutional shares, and financial performance with Return on Equity (ROE) and Return on Assets (ROA). Data sources are from the Indonesia Stock Exchange (IDX) and the Indonesian Capital Market Directory (ICMD). Data processing using Eviews 9. The analysis technique used in this study is panel data regression. The results of this research show that financial performance with ROE proxy has a significant positive effect on firm value while capital structure, institutional ownership, and ROA do not affect on firm value in the Property, Real Estate, and Building Construction sectors listed on the Indonesia Stock Exchange in 2015-2017.
Analysis of The Impact Of NIM, LDR and NPL on Bank Profitability with Variable Mediating Firm Size (Empirical Study on Public Banks Listed on IDX in 2015-2019) Widyakto, Adhi; Suhardjo, Yohanes; Prapti NSS, RR Lulus; Ardiansari, Anindya
Management Analysis Journal Vol 10 No 3 (2021): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v10i3.48249

Abstract

The reason of this think about to impact of NIM, LDR and NPL on the productivity of Commercial Banks Go Open with Variable Estimate control. Benefit is anticipated with ROE as a gage of the sum of benefit generated. The tests utilized in this think about were go open commercial banks recorded on IDX (IDX) amid the period 2015-2019. The number of tests utilized as numerous as 18 banks were taken by purposive inspecting strategy. The examination strategy of this ponder employments different direct relapses with spss 24 program that has already passed the classic presumption test. The comes about of this investigate appear that NIM incorporates a critical positive impact on ROE. NPL contains a noteworthy negative impact on ROE. Long remove relationship incorporates a positive but not noteworthy impact on ROE. On the other hand, the utilize of measure as a control variable appears that NIM features a critical positive impact on ROE.
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