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Working Capital Management dan Firm Profitability Perusahaan Sektor Manufaktur di Bursa Efek Indonesia dan Bursa Efek Filipina Periode 2014-2018 Ricky Adiyanto; Werner Ria Murhadi; Liliana Inggrit Wijaya
Journal of Entrepreneurship and Business Vol. 1 No. 1 (2020): Journal of Entrepreneurship and Business (March)
Publisher : Program MM Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (935.201 KB) | DOI: 10.24123/jerb.v1i1.2822

Abstract

This study aims to analyze the effect of working capital management on the profitability of companies in Indonesia and Philippines. This study uses secondary data from companies listed in Indonesia Stock Exchange and Philippines Stock Exchange in the 2014-2018 period. The sample used in this study includes manufacturing sector companies listed in Indonesia Stock Exchange and Philippines Stock Exchange in that period. This research uses multiple linear regression method. Working capital is measured using cash conversion cycle, accounts receivable conversion period, inventories conversion period, and accounts payable deferral period. The results of the Indonesian sample show that the cash conversion cycle and its components, namely the accounts receivable conversion period, the inventories conversion period, and the accounts payable deferral period have a significant positive effect on firm profitability. For the Philippine sample, the result of the study show that the cash conversion cycle and its components does not have a significant effect on firm profitability. Keywords: cash conversion cycle, accounts receivable conversion period, inventories conversion period, accounts payable deferral period
The Effect of Good Corporate Governance Towards Idiosyncratic Risk Cintya Yuliana Limantara; Werner R. Murhadi; Liliana Inggrit Wijaya
Journal of Management and Business Vol 19, No 2 (2020): SEPTEMBER 2020
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jmb.v19i2.440

Abstract

This study aims to analyze the effect of good corporate governance towards idiosyncratic risk as a proxy with corporate governance variable as board size, independent director, women, firm size, firm performance, and firm age. The object of this study uses companies listed in the Indonesia Stock Exchange and Philippine Stock Exchange using agency theory. This study uses quantitative approach and multiple linear regression to analyze the data. The target populations of this study are manufacturing companies that listed in Indonesia Stock Exchange and Philippine Stock Exchange in 2014-2018 which are equal to 615 and 200 year observations. The results in Indonesia showed that board size, women, and firm age had negatif effect on idiosyncratic risk. On the other hand, firm size do not show the effect on idiosyncratic risk and firm performance had positive effect on idiosyncratic risk. However, the results in Philippine showed that board size had positive effect on idiosyncratic risk. While, women and firm size do not show the effect on idiosyncratic risk but firm performance and firm age had negatif effect on idiosyncratic risk.
HUBUNGAN STRUKTUR MODAL DAN KINERJA KEUANGAN I Made Yogantara; Liliana Inggrit Wijaya
Journal of Management and Business Vol 9, No 1 (2010): MARCH 2010
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jmb.v9i1.158

Abstract

This study's aim is to test the relationship between capital structure and financial performance of the banking industry in Indonesian Stock Exchange. Institutional ownership, size, risk, market power, and organization structure were employed as control variable to test the affect of capital structure to the financial performance. Market average price of input, market average price of output, size, risk, and market power were employed as control variable to test the affect of financial performance to the capital structure. This study found that capital structure and it's quadrative form, institutional ownership, size, risk, market power, and organization structure simultaneously affect financial performance of the banking industry significantly. This study also found that financial performance and it’s quadrative form, market average price of input, market average price of output, size, risk, and market power simultaneously unaffect capital structure of the banking industry significantly.
STRATEGI MERGER PADA ERA KRISIS: ASPEK SINERGI JEJARING BISNIS Liliana Inggrit Wijaya
Journal of Management and Business Vol 5, No 2 (2006): SEPTEMBER 2006
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (17394.128 KB) | DOI: 10.24123/jmb.v5i2.93

Abstract

Globalization is a great challenging for the countries that still hard effort against economic crises. Requirement to be professional for facing competition is an absolute factor, but in the other hand they didn't find the solution way to be surviving out from the crises. In the middle of 1997, it was the beginning Indonesian crises and also the impact of the crises is still continuing until now. Gross Domestic Income in the 1998 slightly goes down 59% if comparing with the beginning of 1997, similarly for the inflation rate and Rp/US$ exchange rate slight}/goes up to 76% and 255%, whereas the condition didn't yet recovery until 2002. Economic crises affects directly the corporate performance, as written in Bisnis Indonesia (1998): economic crises is driven by monetary crises in the middle of previous year (1997) had been cutting performance of both private and public corporate with very dramatically.With the condition like that, very difficult for company to survive even still little number can, but by the fact looked that many company have been collapsed or delisted. Therefore, they must be done immediately to become efficient by consolidation through merger as a strategic step to maintenance their firm value. The target of merger is obtaining the synergy in term of the competitive advantage and strengthening to survive. From 1997 to 2002 was listed 38 public firms which had acted merger activities included horizontal (same business line), vertical (supplier and customer), congeneric (different business line but m the same industry) and conglomerate diversification (unrelated business). These merger are spread in the many kinds of sectors and the most are in the consumer goods sector as 9 companies, and the least is in the Agriculture sector, only one.The result of this research proved that the strategic ways of merger have significant positive relationship toward firm value, in the other words the financial performance after merger is greater than before. If the financed of these merger by equity (79.5%), the effect is greater than financed by debt instrument (61.6%).
PINJAMAN KORPORASI: BANK KOMERSIAL DAN BANK INVESTASI Sari Gondokusumo; Liliana Inggrit Wijaya
Journal of Management and Business Vol 6, No 1 (2007): MARCH 2007
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (19737.665 KB) | DOI: 10.24123/jmb.v6i1.101

Abstract

The increasing of fund had followed the investment bank growth between 1990-1997. Different type of institution also has different loan pricing between commercial bank and investment bank. Basically their differences depend on several factors like these: sources of fund, government rules, borrower’s relationship, market share, and accounting principles. The aims of this research purpose are testing the differences loan pricing between commercial bank and investment bank before crises period. Variables use in this research is types of bank institution, loan duration, loan amount, collateral, and listing Borrowers Company. Controlling variables are industry and term of loan contract. The testing is also for the level of asymmetry information by listed and non-listed borrowers, versus foreign and domestic lenders. For statistic inferential test is using by Ordinary Least Squares regression with white correction heteroscedasticity. Data collection comes from Dealscan database support by LPC (Loan Pricing Corporation). Meanwhile, the data sampling are before crises start from 1990 until 1997. Finally this research result has proven there are any differences between commercial bank and investment bank borrowing. Therefore, commercial bank more focus on lender come from and investment bank more serious attention to borrower’s types. The commercial bank get better than investment bank, even both of them still only look at the general factors, for instance; maturity, collateral, and borrowing types .
GOOD CORPORATE GOVERNANCE, ANALYST COVERAGE, DAN TAHAPAN DAUR HIDUP TERHADAP KEBIJAKAN DIVIDEN Werner R. Murhadi; Liliana Inggrit Wijaya
Journal of Management and Business Vol 10, No 1 (2011): MARCH 2011
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (119.196 KB) | DOI: 10.24123/jmb.v10i1.178

Abstract

This research objective is to observe the influences of good corporate governance, analyst coverage, company life cycle, investment opportunities set, size, and profitability towards the dividend policy. This study employs the corporate data from Indonesian Stock Exchange during 2005-2008 and weighted least square methods. The latest sample is 279 years of observation. The result shows that only life cycle stage of the company and its profitability are influential towards the dividend policy. The findings show that the relationship between the good corporate governance is consistent with the hypothesis but not significant.
INTERDEPENDENSI KEBIJAKAN DEVIDEN, FINANCIAL LEVERAGE DAN INVESTASI: PENGUJIAN PECKING ORDER THEORY Nency Liono; Mudji Utami; Liliana Inggrit Wijaya
Journal of Management and Business Vol 8, No 1 (2009): MARCH 2009
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (9391.053 KB) | DOI: 10.24123/jmb.v8i1.134

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The aims of this research to find interdependency relationships among dividend policy, financial leverage, and investment based on pecking order theory testing. Research object includes food and beverages industry which listing in Indonesian Stock Exchange 2002-2007. Given the influence among third the variable hence will know what is there are interdependency among third the variable and what its influence to company in period food and beverage industry 2002-2007 related to company financial decision. Result of this research shows there is interdependency among dividend policy, financial leverage and investment but not support pecking order theory.
IMPLEMENTASI METODE GAMIFIKASI UNTUK MENINGKATKAN MOTIVASI DAN PENGUKURAN KINERJA DIVISI MARKETING PT Z Stefanus Rianto; Liliana Inggrit Wijaya
Jurnal Ekonomi dan Bisnis Vol. 25 No. 2 (2021): Ekonomi dan Bisnis: Berkala Publikasi Gagasan Konseptual, Hasil Penelitian, Ka
Publisher : Jurusan Ilmu Ekonomi Prodi Ekonomi Pembangunan Fakultas Bisnis dan Ekonomika Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (265.747 KB) | DOI: 10.24123/jeb.v25i2.4848

Abstract

Perkembangan suatu organisasi bisnis dipengaruhi oleh produktivitas karyawannya sebagai aset yang membantu mencapai tujuan organisasi dengan melakukan proses bisnis. Setiap waktu organisasi akan selalu dibutuhkan perubahan demi mengikuti kondisi lingkungan eksternal yang ada. Pada situasi tertentu kinerja karyawan memungkinkan terjadi penurunan akibat banyak hal seperti lingkungan kerja yang kurang kondusif, banyak tekanan hingga pekerjaan yang monoton dan berulang hingga menimbulkan kejenuhan. Kualitas sumber daya manusia terbentuk berdasarkan kemampuan sistem yang dijalankan dalam perusahaan untuk mampu memotivasi supaya sumber daya manusia tersebut dapat memberikan performa terbaiknya bagi organisasi. Untuk memberikan motivasi tersebut beberapa perusahaan menggunakan berbagai cara, salah satunya adalah dengan metode gamifikasi. Metode gamifikasi yang dikemas menggunakan elemen permainan yang dirancang oleh perushaaan menyesuaikan dengan bidang usaha perusahaan, jobdesk karyawan yang ada, kondisi karyawan, dan faktor-faktor internal perusahaan lainnya sehingga sesuai dengan kebutuhan dari setiap divisi dari satu perusahaan tersebut. Metode ini diyakini mampu membantu meningkatkan motivasi kerja karyawan dan mempermudah proses penilaian kinerja karyawan yang lebih objektif dalam suatu perusahaan.
Pengaruh Tata Kelola Perusahaan Terhadap Utang Perusahaan Jeremiah Jovan Piettojo; Werner R. Murhadi; Liliana Inggrit Wijaya
The Manager Review Vol. 4 No. 1 (2022)
Publisher : UNIB Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33369/tmr.v4i1.21145

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh tata kelola perusahaan yang mempengaruhi utang perusahaan. Variabel yang digunakan adalah dewan komisaris, komisaris indepen, kepemilikan institusi, ukuran perusahaan, usia perusahaan, dan profitabilitass. Penelitian ini menggunakan pendekatan kuantitatif dengan model analisis linier berganda. Penelitian ini menggunakan sampel berupa badan usaha industri manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Jumlah sampel yang digunakan adalah 260 observasi. Hasil temuan dari penelitian ini menunjukkan bahwa  dewan komisaris, dan ukuran perusahaan berpengaruh positif signifikan terhadap leverage sementara komisaris indepen, kepemilikan institusi, usia perusahaan dan profitabilitass berpengaruh negatif signifikan terhadap leverage pada perusahaan industri manufaktur yang terdaftar di BEI
GOOD CORPORATE GOVERNANCE IN NON-FINANCIAL SECTOR COMPANIES ON THE INDONESIAN STOCK EXCHANGE Lukito, Excel Nathaniel; Murhadi, Werner R; Wijaya, Liliana Inggrit
JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) Vol 10, No 1 (2024): Vol 10, No. 1 (2024)
Publisher : Universitas Pakuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34204/jiafe.v10i1.9007

Abstract

ABSTRACTThe purpose of this study is to look at how good corporate governance affects the financial performance of all companies in the non-financial sector that are listed on the Indonesia Stock Exchange. This study employs a sample of non-financial companies listed on the Indonesia Stock Exchange and the ordinary least squares approach with panel data. The study's findings show that the board of commissioners' independence variable has a positive impact on ROA and TOBIN's Q; board size has a negative impact on ROA and a positive impact on TOBIN'S Q; the audit committee has a negative impact on ROA and TOBIN'S Q; institutional ownership has a positive impact on ROA and Tobin's Q; organizational size has a positive impact on ROA and a negative impact on TOBIN'S Q; and leverage has a negative impact on both ROA and TOBIN'S Q. According to this research, businesspeople should be aware that there are independent commissioners who can send out encouraging signals to potential investors. However, the audit committee has not been successful in sending investors a negative message.ABSTRAKTujuan dari penelitian ini adalah untuk melihat bagaimana pengaruh tata kelola perusahaan yang baik terhadap kinerja keuangan pada seluruh perusahaan di sektor non-keuangan yang terdaftar di Bursa Efek Indonesia. Penelitian ini menggunakan metode ordinary least square dengan data panel dan menggunakan sampel perusahaan non-keuangan yang terdaftar di Bursa Efek Indonesia. Hasil penelitian ini menunjukkan bahwa variabel independensi dewan komisaris memiliki pengaruh positif terhadap ROA dan terhadap TOBIN'S Q, ukuran dewan memiliki pengaruh negatif terhadap ROA dan positif terhadap TOBIN'S Q, komite audit memiliki pengaruh negatif terhadap ROA dan TOBIN'S Q, kepemilikan institusional berpengaruh positif terhadap ROA dan Tobin's Q, ukuran perusahaan berpengaruh positif terhadap ROA dan berpengaruh negatif terhadap TOBIN'S Q dan leverage berpengaruh negatif terhadap ROA dan TOBIN'S Q. Implikasi dari penelitian ini adalah pelaku bisnis diharapkan memperhatikan keberadaan komisaris independen yang mampu memberikan sinyal positif bagi investor. Sebaliknya, komite audit belum efektif memberikan sinyal negatif bagi investor.