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<![CDATA[PENGARUH FAKTOR FUNDAMENTAL PERUSAHAAN TERHADAP RETURN SAHAM ]]>
<![CDATA[Purnama, Egis Tubagus]]>;
<![CDATA[Asnawi, Said Kelana]]>;
<![CDATA[Lestari, Etty Puji]]>
<![CDATA[ Jurnal Organisasi dan Manajemen Vol 14 No 1 (2018) ]]>
Publisher : <![CDATA[LPPM Universitas Terbuka ]]>
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<![CDATA[This research is conducted to analyze the influence of fundamental factor of company to stock return on coal mining sector which listed in Indonesia Stock Exchange in year 2014-2016. Fundamental factors are represented by CR, MP/TA, FA/TA, DER and ROA. The object of this research is the coal mining sector companies listed on the Indonesia Stock Exchange which submits the financial statements during the period 2014-2016. The sample of this research consists of 11 companies and 33 observations. Statistical methods used in this research is multiple regression analysis.The results of this research indicate that FA/TA and ROA affect stock return on coal mining sector which listed in Indonesia Stock Exchange in year 2014-2016, while CR, MP/TA, and DER do not affect to stock return on coal mining sector which listed in Indonesia Stock Exchange in year 2014-2016.
Penelitian ini dilakukan untuk menganalisis pengaruh faktor fundamental perusahaan terhadap return saham pada sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia pada tahun 2014-2016. Faktor fundamental di wakili oleh CR, MP/TA, FA/TA, DER dan ROA. Obyek penelitian ini adalah perusahaan yang termasuk di dalam sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia yang menyampaikan laporan keuangan sepanjangperiode tahun 2014-2016. Sampel penelitian ini terdiri dari 11 perusahaandengan jumlah pengamatan sebanyak 33 pengamatan. Metode statistik yang di gunakan dalam penelitian ini adalah analisa regresi berganda. Hasil penelitian ini menunjukan bahwa FA/TA dan ROAmemberikan pengaruh teradap return saham pada sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia pada tahun 2014-2016, sedangkan CR, MP/TA dan DER tidak memberikan pengaruh terhadap return saham pada sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia pada tahun 2014-2016.]]>
<![CDATA[PENGARUH FAKTOR FUNDAMENTAL PERUSAHAAN TERHADAP RETURN SAHAM ]]>
<![CDATA[Purnama, Egis Tubagus]]>;
<![CDATA[Asnawi, Said Kelana]]>;
<![CDATA[Puji Lestari, Etty]]>
<![CDATA[ Jurnal Organisasi Dan Manajemen Vol 14 No 1 (2018) ]]>
Publisher : <![CDATA[LPPM Universitas Terbuka ]]>
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DOI: 10.33830/jom.v14i1.149.2018
<![CDATA[This research is conducted to analyze the influence of fundamental factor of company to stock return on coal mining sector which listed in Indonesia Stock Exchange in year 2014-2016. Fundamental factors are represented by CR, MP/TA, FA/TA, DER and ROA. The object of this research is the coal mining sector companies listed on the Indonesia Stock Exchange which submits the financial statements during the period 2014-2016. The sample of this research consists of 11 companies and 33 observations. Statistical methods used in this research is multiple regression analysis.The results of this research indicate that FA/TA and ROA affect stock return on coal mining sector which listed in Indonesia Stock Exchange in year 2014-2016, while CR, MP/TA, and DER do not affect to stock return on coal mining sector which listed in Indonesia Stock Exchange in year 2014-2016. Penelitian ini dilakukan untuk menganalisis pengaruh faktor fundamental perusahaan terhadap return saham pada sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia pada tahun 2014-2016. Faktor fundamental di wakili oleh CR, MP/TA, FA/TA, DER dan ROA. Obyek penelitian ini adalah perusahaan yang termasuk di dalam sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia yang menyampaikan laporan keuangan sepanjangperiode tahun 2014-2016. Sampel penelitian ini terdiri dari 11 perusahaandengan jumlah pengamatan sebanyak 33 pengamatan. Metode statistik yang di gunakan dalam penelitian ini adalah analisa regresi berganda. Hasil penelitian ini menunjukan bahwa FA/TA dan ROAmemberikan pengaruh teradap return saham pada sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia pada tahun 2014-2016, sedangkan CR, MP/TA dan DER tidak memberikan pengaruh terhadap return saham pada sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia pada tahun 2014-2016.]]>
<![CDATA[Does Black Monday appear on The Indonesia Stock Exchange? ]]>
<![CDATA[Asnawi, Said Kelana]]>;
<![CDATA[Salim, Giovanni]]>;
<![CDATA[Malik, Wahid Abdul]]>
<![CDATA[ Jurnal Organisasi dan Manajemen Vol. 16 No. 1 (2020) ]]>
Publisher : <![CDATA[LPPM Universitas Terbuka ]]>
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DOI: 10.33830/jom.v16i1.780.2020
<![CDATA[Stock transactions are based on a daily transaction,where Monday begins more closed time than other days. For this reason, Monday is more volatile than other days. Findings. We find that a positive return opportunity larger (more than 60%) occurs on all trading days.This result indicates the potential for Investment in Indonesia Stock Exchange. We also found “Black Monday†in sectors 1 and 9, indicate Monday Lower Return and Volume compare other days. About 77% results Monday volume lower than other days. This shows Monday trading activity has not risen. This situation does not fit the hypothesis, where after the holiday weekend, investors are eager to invest. In this case, it means that at the weekend, more negative information, so that trade transactions have not increased. Regarding the correlation between (Ï) return(o-c) and return(c-c) it is found that almost all are significantly positive except in sector 4; 5; total and LQ 45. This positive correlation indicates that not much information flow entered when the market was closed.]]>
<![CDATA[Does Friday-Monday Dance with Harmony? ]]>
<![CDATA[Asnawi, Said Kelana]]>;
<![CDATA[Wijaya, Chandra]]>;
<![CDATA[Siagian, Dergibson]]>;
<![CDATA[Alzah, Salam Fadillah]]>
<![CDATA[ Jurnal Organisasi dan Manajemen Vol. 17 No. 1 (2021): January - June ]]>
Publisher : <![CDATA[LPPM Universitas Terbuka ]]>
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DOI: 10.33830/jom.v17i1.1261.2021
<![CDATA[This research is about the weekend effect, a combination of Friday and Monday, and its impact on Monday trading volume. It was found that there was no association between Friday return and Monday return. Still, they occur a combination both Friday and Monday negative return was more than combination both Friday and Monday positive return. There are both combinations (Friday and Monday), and price fluctuation has not affected Monday's volume. There is also no difference in characteristics between groups: Friday and Monday negative return and Friday and Monday positive return. Thus, Friday-Monday dances with harmony; the efficient market occurs. Keywords: Weekend Effect; Trading Volume; Liquidity; Risk-Return; Market Efficient]]>
<![CDATA[Analisis Rasio Keuangan pada Emiten Pelayaran di Asia Tenggara ]]>
<![CDATA[Said Kelana Asnawi]]>
<![CDATA[ Jurnal Manajemen dan Bisnis Vol 1, No 1 (2010): Oktober ]]>
Publisher : <![CDATA[Universitas Bandar Lampung (UBL) ]]>
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DOI: 10.36448/jmb.v1i1.35
<![CDATA[This study discusses the Financial Ratios of Listed shipping in Southeast Asia consisting of: 7 (seven) shipping issuers of Indonesia, 2 (two) issuers of Malaysia and one (1) Issuer of Singapore. Financial Ratio Analysis is an important thing that needs to be done against the shipping issuer. This study aims to provide a narrative description regarding the use of financial ratios that serve as Standard Analysis Tool on the shipping industry. Financial ratio analysis results can provide insight into the condition and financial situation faced by the issuer on the shipping industry and can be used as a benchmark (rule of thumb) to determine the condition and financial situation of the issuers shipping industry. This study uses Quantitative Analysis Method using the formula of Financial Ratios Liquidity Ratios, Solvency Ratios, Activity Ratios and Profitability Ratios. The discussion carried out simultaneously for all issuers to make comparisons to determine the condition of the industry and the financial situation of the Issuer. Based on the analysis results can be concluded that: issuer has a good Liquidity Ratio (CR> 1) but there were a range of variation of a high ratio between the issuer, which can not be used as a benchmark (rule of thumb). This shows that there are sharp differences between the issuer in terms of managing its financial management. Also obtained a standard (rule of thumb) that the Asset Turnover Ratio (ATO) is generally the amount ranges from less than 1 (one), but Receivable Turnover Ratio (Arto) and Ratio Inventory Turnover (ITO) has a high variation. Indonesia issuer has Return on Assets (ROA) <6%, but the Return on Equity (ROE) and Profit Margin (PM) have a high variation. The ratio of EBITDA / Assets is found positive for the Indonesia issuer.Penelitian ini membahas Rasio Keuangan dari Emiten Pelayaran di kawasan Asia Tenggara yang terdiri dari: 7 (tujuh) Emiten Pelayaran dari Indonesia, 2 (dua) Emiten dari Malaysia dan 1 (satu) Emiten dari Singapura. Analisis Rasio Keuangan merupakan hal penting yang perlu dilakukan terhadap Emiten Pelayaran. Penelitian ini bertujuan untuk memberikan uraian deskriptif berkenaan dengan penggunaan Rasio Keuangan yang berfungsi sebagai Alat Analisis Jurnal Manajemen dan Bisnis Vol. 1 No. 1 Oktober 2010 : 33-49 34 Standar pada Industri Pelayaran. Hasil analisis Rasio Keuangan dapat memberikan pemahaman tentang kondisi dan situasi keuangan yang dihadapi oleh Emiten pada Industri Pelayaran dan sekaligus dapat digunakan sebagai patokan (rule of thumb) untuk mengetahui kondisi dan situasi keuangan pada Emiten Industri Pelayaran. Penelitian ini menggunakan Metode Analisis Kuantitatif dengan menggunakan Rumus Rasio Keuangan yang terdiri dari Rasio Likuiditas, Rasio Solvabilitas, Rasio Aktivitas dan Rasio Profitabilitas. Pembahasan dilakukan secara bersamaan untuk semua Emiten dengan melakukan perbandingan untuk mengetahui kondisi industri dan situasi keuangan dari Emiten. Berdasarkan hasil analisis dapat disimpulkan bahwa: Emiten memiliki Rasio Likuiditas yang bagus (CR>1) namun terjadi rentang variasi rasio yang tinggi antar Emiten, sehingga tidak dapat dijadikan patokan (rule of thumb). Hal ini menunjukkan adanya perbedaan yang tajam antar Emiten dalam hal pengelolaan menejemen keuangannya. Selain itu diperoleh patokan (rule of thumb) bahwa Rasio Perputaran Asset (ATO) secara umum besarnya berkisar kurang dari 1 (satu ), namun Rasio Perputaran Piutang (ARTO) dan Rasio Perputaran Inventori (ITO) memiliki variasi yang tinggi. Emiten Indonesia memiliki Imbal Hasil Asset (ROA) < 6%, namun Imbal Hasil Modal Sendiri (ROE) dan Marjin Laba (PM) memiliki variasi yang tinggi. Rasio EBITDA/Asset ditemukan bernilai positif untuk Emiten Indonesia.]]>
<![CDATA[Desain Premi dan Manfaat Asuransi Deposito ]]>
<![CDATA[Said Kelana Asnawi]]>
<![CDATA[ Jurnal Siasat Bisnis Vol. 11 No. 1 (2006) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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<![CDATA[Paper ini memuat desain penentuan premi asuransi deposito dengan mempertimbangkan pinalti bagi perilaku moral hazard dan memberikan sanggahan teoritis terhadap pendapat yang meragukan kebaikan asuransi deposito. Sanggahan ini didasarkan pada desain premi jika mempertimbangkan pinalti bagi perilaku moral hazard. Sanggahan ini merujuk pada manfaat asuransi berupa penurunan penarikan serta laba bank yang positip dan manfaat sosial yang diperoleh pemerintah. Key Word: asuransi deposito, incentive compatible plan, moral hazard, camel rating, Option Theory-Jump Process, Benefit Sosial Pemerintah]]>
<![CDATA[Desain Asuransi Deposito: Teori Opsi dengan Proses Lompatan ]]>
<![CDATA[Said Kelana Asnawi]]>
<![CDATA[ Jurnal Siasat Bisnis Vol. 2 No. 9 (2004) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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<![CDATA[Desain premi asuransi deposito seharusnya mempertimbangkan risiko, serta peluang moral hazard yang dilakukan bank setelah mengikuti program asuransi tersebut. Dengan demikan desain premi akan memuat suatu fraksi incentive compatible. Walau demikian, kondisi ini belum cukup untuk merefleksikan risiko sebenar¬nya. Hal ini karena industri bank rawan (fragile) terhadap bank run. Karenanya peluang terjadinya bank run, seha¬rusnya diikutsertakan dalam desain premi ini. Peluang bank run ini merupakan suatu proses lompatan, sedang¬kan secara teoritis berdasarkan teori put opsi. Dengan demikian penentuan premi dapat dilakukan dengan teori opsi-proses lompatanKata Kunci: option theory-jump process; poisson process; moral hazard; co-insurance;]]>
<![CDATA[DO FOREIGN FUNDS AFFECT INDONESIAN CAPITAL MARKET LIQUIDITY? ]]>
<![CDATA[said kelana asnawi]]>
<![CDATA[ Jurnal Ilmiah Ekonomi Dan Bisnis Vol. 18 No. 2 (2021) ]]>
Publisher : <![CDATA[Universitas Lancang Kuning ]]>
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DOI: 10.31849/jieb.v18i2.6313
<![CDATA[Trading Volume (Liquidity) is the perfect complement to returns. Therefore, research regarding volume becomes an important thing in the capital market. Various factors that influence the Liquidity (TV) are bid-ask spread; interest rates, exchange rates, and foreign funds. The study uses Amihud Illiquidity Ratio (AIR) as a proxy for liquidity. The data is the Indonesian Composite Index for liquidity, and all variables, daily basis; 2016-2019 period, divided into odd and even semester, with the linear regression model. The results showed that the bid-ask spread decreases trading volume, exchange rate and interest rates had a positive effect on AIR, where the greater the depreciation and the higher the interest rates, the lower the liquidity. For 2019, the foreign fund has a negative coefficient, which shows foreign funds increase capital market liquidity. In 2019, there will be a strengthening effect between foreign funds and the exchange rate Keyword: liquidity; trading volume; Amihud Illiquidity Ratio; bid-ask spread; exchange rate.]]>
<![CDATA[Pengaruh Kurs Tukar, Dana Asing, dan Volume Perdagangan Terhadap Indeks Harga Saham ]]>
<![CDATA[Tuti Fitriani]]>;
<![CDATA[Said Kelana Asnawi]]>;
<![CDATA[Hendrian Hendrian]]>
<![CDATA[ Owner : Riset dan Jurnal Akuntansi Vol. 6 No. 2 (2022): Artikel Volume 6 Nomor 2 April 2022 ]]>
Publisher : <![CDATA[Politeknik Ganesha Medan ]]>
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DOI: 10.33395/owner.v6i2.842
<![CDATA[Fluctuations in the stock price index indicate a market mechanism: the interaction between supply and demand for traded shares. Several factors can influence the movement of the stock price index, including the exchange rate, foreign funds, and trading volume. This study aims to analyze the effect of the exchange rate, foreign funds, and trading volume on the composite stock price index during the 2018-2020 time period, which is calculated weekly, where data on Wednesdays represent weekly data for each variable, so the data in this study amounted to 154 data. This research analysis method uses multiple linear regression with an ordinary least square approach. The results showed that the exchange rate depreciation would significantly reduce the joint-stock price index, while foreign funds and trading volume did not significantly affect the movement of the joint-stock price index in the Indonesia Stock Exchange]]>
<![CDATA[THE ROLE OF INVESTOR RELATIONS IN THE INDONESIAN STOCK EXCHANGE: AN IMPORTANT COMMUNICATION BRIDGE ]]>
<![CDATA[Zasa Pinkan Kinanti]]>;
<![CDATA[Said Kelana Asnawi]]>
<![CDATA[ Jurnal Komunikasi dan Bisnis Vol. 10 No. 1 (2022): May ]]>
Publisher : <![CDATA[Lembaga Penelitian dan Pengabdian kepada Masyarakat Institut Bisnis dan Informatika Kwik Kian Gie ]]>
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DOI: 10.46806/jkb.v10i1.784
<![CDATA[Good corporate governance and information transparency are needed to maintain investor confidence and reduce information asymmetry. Investor Relations plays an important role in a company to maintain two-way communication and investor confidence, by bridging the gap in communication between companies and investors. This study aims to analyze the theory and practice of Investor Relations in Indonesia from the perspective of Investor Relations practitioners. This study uses a qualitative method using an open-ended questionnaire to Investor Relations Officers who work in public companies that are listed in the Indonesia Stock Exchange. The results of the study found that Investor Relations have practiced in line with the theory and results of previous research on Investor Relations in terms of stakeholders, organizational structure, objectives, functions, expertise, standard practices, and obstacles of Investor Relations in Indonesia. The study found that Investor Relations in Indonesia has not fully carried out the function of internal communication which can be attributed to the lack of support from management who have not seen Investor Relations as a strategic part of the company.]]>
