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All Journal Journal of Business & Banking Indonesian Journal of Business and Entrepreneurship (IJBE) Jurnal Administrasi Publik : Public Administration Journal SINERGI: Jurnal Ilmiah Ilmu Manajemen Syntax Literate: Jurnal Ilmiah Indonesia Jurnal Riset Akuntansi dan Keuangan Journal of Economic, Bussines and Accounting (COSTING) Asia Pacific Fraud Journal Community Engagement and Emergence Journal (CEEJ) Enrichment : Journal of Management Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Journal La Sociale BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi IIJSE
Bernardus Yuliarto Nugroho
Faculty Of Administrative Science, Universitas Indonesia
Religion Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : BISNIS

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Effect of Enterprise Multiple on Stock Return Non-Financial Companies in Indonesian Stock Exchange Namira, Fitri; Nugroho, Bernardus Yuliarto
BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi Vol. 23, No. 2
Publisher : UI Scholars Hub

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Enterprise Multiple is widely used by practitioners as a valuation measure (Loughran & Wellman, 2011). Furthermore, one component used in the calculation of enterprise multiple (EV/EBITDA) is the use of operating income before depreciation data as income variables. The data is accurate and difficult to manipulate (not even) in measuring the profitability of a company over net income. This study aims to analyse the influence of enterprise multiple on stock return towards non-financial companies listed in the Indonesian Stock Exchange from 2006-2015. The dependent variable used is stock return. The independent variable used is enterprise multiple which is proxied with EV / EBITDA. Enterprise Value (EV) is (value of equity + debt + preferred stock - cash). While EBITDA are Earnings Before Interest, Tax, Depreciation and Amortisation. This research takes the form of a quantitative research by using panel data regression test. The results show that firms with a low enterprise multiple values, have a higher stock return than firms with high enterprise multiple values. In addition, the portfolio established under enterprise multiple values (low minus high portfolios) in the Carhart 4 Factor Model is robust on non-financial companies listed on the Indonesia Stock Exchange 2006-2015 period.
Corporate Governance Characteristics and Company Performance Saragih, Ferdinand Dehoutman; Nugroho, Bernardus Yuliarto; Eko, Umanto
BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi Vol. 18, No. 3
Publisher : UI Scholars Hub

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The research analyzes the determinant of corporate governance characteristic in relation to company performance in family firms listed in Indonesia Stock Exchange in the period of 2004-2009. The research uses quantitative approach, explanatory type and uses numerical data as secondary data obtained from various sources. The result shows that only PER variable is significantly influenced by corporate governance characteristic with proxies of ownerships, board size, and board composition, and controlled with the variables of sales, firm age, firm leverage, tangibility, firm size, growth, and debt in public firms listed in Indonesia Stock Exchange in the period of 2004-2009; in general, investors basically perceive company performance from the market value ratio in the form of company’s stock price interchange instead of the profitability ratio with the proxies of ROA and ROE; the variables of ownerships, board size, and board composition statistically do not affect ROA, ROE, and PER.
Co-Authors Arkanuddin, Mohammad Fahmi Chandra Wijaya Chandra Wijaya eko, umanto Febriyanti, Angela Devi Fitri Namira Fitri Namira Ifta Almazah Suhaya Mohammad Fahmi Arkanuddin Mohammad Fahmi Arkanuddin Muadzan, Teuku Ghalib Muttaqin Muttaqin Namira, Fitri Nisrina Zahra Elfani Nurwijayanti Paramita Nur Kurniati Paramita Nur Kurniati Patriginari, Ginung Rachma Fitriati Reza Suraputra Saragih, Ferdinand Dehoutman Yudiantoro, Reza