Arif Herlambang
Fakultas Bisnis dan Ekonomika Universitas Surabaya

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CAPITAL INVESTMENT, INTERNASIONALISASI, DAN FIRM PERFORMANCE : STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERCATAT DI BURSA EFEK INDONESIA PERIODE 2011-2015 Elvinna Salim; Deddy Marciano; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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Abstract

The objective of this study is to examine the effect of capital investment to internationalization and f oreign sales growth and al so the effect of internationalization to firm performance in manufacturing company that listed in the I ndonesia Stock Exchange 2011-2015 period. The dependent variables in this study are internationalization, foreign sales growth, and ROA . Independent variables used are capital investmentandinternationalization, as well as control variables used are industry return, leverage, firm size, fixed assets ratio, market to book value, andsales growth. This study uses 2 regression analysis model, which is linear and quadratic model to test the hypothesis with a sample of 83 industrial manufacturing companies in Indonesia Stock Exchange 2011-2015 period. The numbers of observation used in this study are 415 observations. The result shows that capital investment has a s ignificant negative effect and U-shaped on internationalization of the company, capital investment has a significant positive effect on foreign sales growth of the company. Internationalization has no significant effect on firm performance.
ANALISIS PENGARUH CORPORATE SOCIAL RESPONSIBILITY, LEVERAGE DAN SIZE TERHADAP FIRM VALUE DAN RETURN ON ASSETS PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2016 Maria Lavenia; Werner Ria Murhadi; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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This research aims to identify factors that affect the financial performance of a company measured through the approach of market based (firm value) and accounting based (return on assets) such as corporate social responsibility, leverage, and firm size of companies’ listed in the Indonesian Stock Exchange using stakeholders’ theory approaches. This research uses quantitative approach and multiple linear regression method to analyze the data. The target populations of this study are all non-financial companies registered in Indonesia Stock Exchange in 2012-2016 which are equal to 885 year observations. The independent variables used in this study are corporate social responsibility, leverage, and firm size. The study result showed that leverage has a positive significant and firm size has a negative significant impact on firm value. On the other hand, corporate social responsibility has no impact on firm value. Meanwhile, corporate social responsibility, firm size and leverage have negative and significant impact on return on assets.
PENGARUH GENDER DIVERSITY DAN GOOD CORPORATE GOVERNANCE TERHADAP UNDERPRICING PADA PERUSAHAAN NON – KEUANGAN YANG MELAKUKAN IPO PERIODE 2006-2016 Kevin Kurniawan; Deddy Marciano; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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This study aimed to analyse factors affecting underpricing for non-finance companies that indicated their first public offering during 2006-2016. Independent variables used are percentage of woman director, underwriter prestige, percentage outside director, ownership concentration, institutional ownership, and profitability. This study uses a quantitative approach with multiple linear regression as analysis model. This study uses a sample of non-finance firms that initiated their first public offering on 2006-2016. Number of observations used in this study is 78 observations. The results showed the percentage of female directors, prestige underwriters, percentage of outside directors, ownership concentration, and significant profitability against underpricing on the first day (1st day of return and abnormal return day 1) on stock prices in the secondary market. Then this research also shows the rebustness check result of underpricing on the seventh day (7th return and 7th abnormal return day) and thirty (30th return day and 30th abnormal return).
PENGARUH TATA KELOLA PERUSAHAAN TERHADAP STRUKTUR MODAL PADA BADAN USAHA SEKTOR AGRIKULTUR YANG TERDAFTAR DALAM BURSAEFEKDI ASEAN PERIODE 2012-2016 Jonathan Susanto; Deddy Marciano; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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The main objective of the firm is to maximize the shareholders’ wealth, though in order to achieve that, the directors sometimes misuse his authority to fulfill his own desires and neglecting shareholders’ interest. Good corporate governance needed to minimalize the conflict of interest in the firm. The corporate governance can determine firm’s capital structure especially when it comes to leverage. Leverage can be used as bonding mechanism to control directors, so the directors can act corresponding to the firm’s objective.This research wants to analyze the influence of corporate governance (audit committee size, board size, CEO tenure, director independence, profitability, size, growth) to capital structure (leverage). This research uses quantitative perspective in a panel data. The number of observation in this research are 305 observations, consist of 61 firms (14 firms from Indonesia, 6 firms form Thailand, 6 firms from Singapore, 35 firms from Malaysia) that enlisted for 2012-2016 period.
PENGARUH GOOD CORPORATE GOVERNANCE(GCG) TERHADAP KEBIJAKAN DIVIDEN PADA SAHAM PERUSAHAAN SEKTOR NON-KEUANGAN YANG TERDAFTAR DI BEI PERIODE 2012-2016 Kania Ester Gunawan; Werner Ria Murhadi; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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This study aims to investigate the determinants of corporate dividend policy such as GCG Index, firm size, profitability, leverage, firm growth and free cash flow of companies’ listed in the Indonesian Stock Exchange. This Study uses the quantitative approach and multiple linear reggresion to analyze the data. The target populations of this study are all non-financial companies registered in Indonesia Stock Exchange in 2012-2016 which are equal to 1550 observations. The dependent variable used in this study is corporate dividend policy that measured by using dividend payout ratio. The study finds that firm size, profitability and Leverage affect dividend payout ratio negatively. On the other hand, GCG Index, Firm Growth and Free Cash Flow affect dividend payout ratio positively.
FAKTOR INDIVIDU CHIEF EXECUTIVE OFFICER TERHADAP CAPITAL STRUCTURE DECISION PADA PERUSAHAAN YANG TERDAFTAR DALAM LQ45 DI BURSA EFEK INDONESIA Thomas Yulianto Prakoso; Putu Anom Mahadwartha; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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his study aims to analyze the effect of Chief Executive Officer (CEO) individual factor towards capital structure decision using Leverage as a dependend variable with Age (CEO Age), Tenure as independenvariable amd Capex, ROA (Return on Asset), dan IO (Institutional Ownership) as control variable on LQ45 companies listed in Indonesia Stock Exchange (BEI) in the period 2012-2016. This research uses quantitative approach with single regression analysis model. This study uses sample of firms which are listed on LQ45 in IDX on 2012 - 2016. The number of final samples used in this study were 66 business entities with 330 observations.The study findings suggest that Age and ROA variables have negative and significant effect towards Leverage, while Tenure and IO variable have positive and significant effect towards Leverage. On the other hand, Capexvariables does not indicate significant effect towards Leverage in LQ45companies on the period 2012-2016.
PENGARUH CORPORATE GOVERNANCE TERHADAP KINERJA DAN KEBIJAKAN DIVIDEN PADA PERUSAHAAN SEKTOR MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2016 Nyolan Lestari; Deddy Marciano; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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This study aims to analyze the effect of good corporate governance (GCG) towards firm performance using tobin’s q ratio (TOBIN_Q) and dividend policy using dividend payout ratio (DPR) as a proxy in manufature sector companies listed in Indonesia Stock Exchange (BEI) in the period 2012-2016.This research uses quantitative approach with multiple linear regression analysis model. This study uses sample of firms which are listed on manufature sector in IDX on 2012 – 2016. The number of final samples used in this study were 112 business entities with 560 observations.
PENGARUH KONSENTRASI KEPEMILIKAN DAN KARAKTERISTIK DEWAN TERHADAP KINERJA PERUSAHAAN SEKTOR MANUFAKTUR DI BEI PERIODE 2012-2016 Aprilia Pratiwi; Deddy Marciano; Arif Herlambang
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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This research aim to analyze factors which affect firm performance.Variables which use are ownership concentration, board size, board professionals, and board independents. And also, interaction variable which are ownership concentration x board size, ownership concentration x board professionals, andownership concentration x board independents. This research use quantitative approach by using multiple linier regression on 5 model, model 1 is the base line model and model 2-5 are the interaction models.. The sample of this research is the industrial manufacturing company that listed in BEI (Bursa Efek Indonesia) for period of 2012-2016. Final samples which are used in this research are equal to 109 observation.