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ANALISIS PENGARUH HARI PERDAGANGAN TERHADAP RETURN SAHAM DI BURSA EFEK INDONESIA : PENGUJIAN MENGGUNAKAN GARCH ( GENERALIZED AUTOREGRESSIVE CONDITIONAL HETEROSKEDASTICITY)
Cahyaningdyah, Dwi;
Faidah, Faridhatun
Ekspektra : Jurnal Bisnis dan Manajemen Vol 1 No 1 (2017)
Publisher : Universitas Dr. Soetomo
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DOI: 10.25139/ekt.v1i1.84
Tujuan dari penelitian ini adalah untuk mengetahui pengaruh hari perdagangan terhadap return saham di Bursa Efek Indonesia. Subjek penelitian ini adalah perusahaan-perusahaan dalam indeks LQ45 di Bursa Efek Indonesia. Teknik pengambilan sampel dilakukan dengan metode sampling jenuh. Ditemukan jumlah observasi sebanyak 1.697 observasi data harian harga saham penutupan selama tahun 2007-2015. Analisis data yang digunakan adalah analisis GARCH. Hasil penelitian menunjukkan bahwa ada pengaruh hari perdagangan terhadap return saham di Bursa Efek Indonesia periode 2007-2015 dimana ditemukan return saham yang negatif pada hari Senin (Monday Effect) dan return terbesar yang terjadi pada hari Jumat (Weekend effect). Sementara itu, fenomena week four effect tidak ditemukan pada penelitian ini karena Monday effect tidak hanya digerakkan oleh return negatif yang terjadi pada Senin minggu keempat dan kelima saja namun juga digerakkan oleh return negatif pada Senin minggu kedua dan ketiga. Pada penelitian ini, fenomena bad Friday juga tidak ditemukan karena tidak hanya return negatif hari Jumat saja yang mempengaruhi return negatif hari Senin (Monday Effect) tetapi juga dipengaruhi oleh return positif pada hari umat minggu sebelumnya.
Targeting Behavior among Indonesian Firms: Two-Step Partial Adjustment Model Analysis
Cahyaningdyah, Dwi
JDM (Jurnal Dinamika Manajemen) Vol 10, No 1 (2019): March 2019 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang
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DOI: 10.15294/jdm.v10i1.18291
In this research, we tested the heterogeneity of speed of adjustment toward target leverage among industries on the Indonesian stock exchange by using two-step partial adjustment model. The sample collected from 2007-2016 and consisted of firms in eight sectors, i.e. agriculture, mining, basic industries, miscellaneous, consumer goods, property and real estate, infrastructure, utilities and transportation as well as trade, services and investment sectors. Firms in the financial industry are excluded because the capital structure of firms in the financial industry reflects specific regulations and are not independent firms’ policies. The results showed that speed of adjustment ranged from 61% - 45% for book leverage and 67% - 43% for market leverage. This significant speed of adjustment is consistent with trade-off theory, which states that firms have target leverage and when firms are deviated from the target, firms will make financial decisions that will close the gap between previous year’s leverage and the target leverage of current period.
IMPACTS THE BRAND OF EXPERIENCE AND BRAND IMAGE ON BRAND LOYALTY: MEDIATORS BRAND OF TRUST
Marliawati, Annisa;
Cahyaningdyah, Dwi
Management Analysis Journal Vol 9 No 2 (2020): Management Analysis Journal
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/maj.v9i2.36945
This study is to examine the effect of brand experience and brand image on brand loyalty through brand trust. The population of this study is Ijjah_Collection customer via Shopee in Indonesia. The sample of this study consisted of 116 respondents using non-probability method. The method of collecting the data used questionnaire roomates then Analyzed using path analysis with IBM SPSS Statistics 22 program. The results of this study Showed: (1) brand experience has a positive and significant effect on brand loyalty, (2) brand image has a positive effect, but is not significant on brand loyalty, (3) brand experience has a positive effect and signficant on brand loyalty through brand trust, (4) brand image has a positive and significant effect on brand loyalty through brand trust, (5) brand trust has a positive and significant effect on brand loyalty.
PENGUATAN SISTEM PENGENDALIAN INTERN (SPI) SEBAGAI UPAYA MEMINIMALISIR PRAKTEK TIDAK SEHAT DALAM TATA KELOLA KEUANGAN KOPERASI
Wahyudin, Agus;
Cahyaningdyah, Dwi;
Baroroh, Niswah
Rekayasa : Jurnal Penerapan Teknologi dan Pembelajaran Vol 12, No 2 (2014): December 2014
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/rekayasa.v12i2.10304
Pengabdian masyarakat ini dilaksanakan di wilayah Semarang, di Dekopinda Semarang dengan peserta para pengurusdan pengawas Koperasi Berskala Besar yang sudah layak untuk diaudit eksternal dengan tujuan sosialisasi pemberdayaan peran serta fungsi pengawas koperasi se kota semarang. Adanya pelatihan ini diharapkan meningkatnya kualitas Sistem Pengendalian Intern (SPI) Koperasi anggota DEkopinda Kota Semarang agar dapat meminimalisir terjadinya kecurangan (fraud) yang terjadi di koperasi. Selain itu dapat meningkatkan kesadaran pengurus bahwa koperasi membutuhkan peran auditor eksternal guna meningkatkan kredibilitas dan akuntabilitas laporan keuangan yang dibuatnya, terkait adanya kepentingan dari para anggota selaku stakeholder utama dalam badan usaha ini, mengingat tidak semua anggota berperan sebagai pengurus. Sosialisasi ini hendaknya diikuti dengan agenda follow up terkait penguatan Sistem Pengendalian Internal (SPI) Koperasi anggota Dekpinda Kota Semarang. Pengabdian ini dilakukan dengan tujuan untuk memberikan pelatihan teknis mengenai peran Sistem Pengendalian Internal (SPI) agar dapat meminimalisir terjadinya kecurangan (fraud0 yang dilakukan oleh top manajer, para pengurus koperasi maupun para pengawas koperasi. Dengan terciptanya SPI yang baik guna memastikan kegiatan operasional perusahaan berjalan dengan baik dan benar, sehingga membantu meningkatkan kredibilitas laporan keuangan dan secara tidak langsung meningkatkan kualitas dari laporan keuangan itu sendiri.
Analysis of The Bankruptcy of Companies with Altman Model and Ohlson Model
Najib, Andi Septian;
Cahyaningdyah, Dwi
Management Analysis Journal Vol 9 No 3 (2020): Management Analysis Journal
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/maj.v9i3.37797
Often companies that have been operating for a certain period forced to disperse because of increased financial distress that caused bankruptcy. There are two models that can be used to predict bankruptcy of companies, that is Altman model (Z-score) and Ohlson model. This study aims to determine the accuracy of the Altman model (Z-Score) and Ohlson's model in predicting bankruptcy of delisting companies in Indonesia Stock Exchange for 2015-2019 period.The population in this study were all of delisting companies in Indonesia Stock Exchange for 2015-2019 period, totaled 17 companies. The number of samples used in this study were 8 companies, by using purposive sampling method. Data analysis used data processing application SPSS version 25. The results showed that accuracy of the Altman model is 58.3%, while the Ohlson model is 79.2%. The conclusion of this research Ohlson model has the highest accuracy that compared to Altman model in predicting bankruptcy at delisting companies in Indonesia Stock Exchange for 2015-2019 period, with accuracy values of Ohlson model is 79.2% and 58.3% for the Altman model. For further researchers, it is expected to increase the number of samples of companies studied and extend the research periods in order to provides more accurate results, and combining the Altman and Ohlson models with other bankruptcy prediction models that can be applied in companies in Indonesia.
Determinants of Company Value: Pre and Post Crisis Global 2015
Witasari, Okti;
Cahyaningdyah, Dwi
Management Analysis Journal Vol 10 No 1 (2021): Management Analysis Journal
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/maj.v10i1.40865
The purpose of this research was to study the determinant of the value of companies pre-and post-crisis global 2015 about companies registered on the Indonesian Stock Exchange 2012 - 2018. The population of this research were companies registered on the Indonesian Stock Exchange 2012 - 2018. The number of samples were 906 datas consist of 151 companies. The research sample was taken using purposive sampling technique. The datas analysis in this research used descriptive statistical analysis, a test model with the best panel data regression estimation, and multiple analysis. The model test results showed that the best panel data estimation model was the fixed effect model, while the best post data crisis estimation model was the random effect model. The hypothesis test results showed that institutional ownership did not influence with pre- and post-crisis company values, capital structure has a significant positive effect on pre- and post-crisis company values, company size had a significant negative effect on pre-crisis company values, and company size did not influence post-company value crisis. The conclusions of this research were that no contradiction about institutional ownership and capital structure to the values of the company both pre and post crisis, while the size of the company was related to the values of the company, where the pre-crisis influenced significant negative effect and post-crisis did not influence.
The Influence of Representativeness on Investment Decision Through Overconfidence
Fitri, Hery Kharisma;
Cahyaningdyah, Dwi
Management Analysis Journal Vol 10 No 2 (2021): Management Analysis Journal
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/maj.v10i2.48890
This study aims to explore the effect of representativeness on investment decisions through overconfidence as an intervening variable on investors from the Faculty of Economics, Universitas Negeri Semarang. The data used in this study is primary data with a survey method using a questionnaire. The research sample was taken using convenience sampling technique with a sample of 115 investors. The sample was then analyzed using the Partial Least Square (PLS) method with the help of the SmartPLS 3.0 application. The empirical results of this study explain that representativeness has no effect on investment decisions, overconfidence has a significant positive effect on investment decisions, representativeness has a significant positive effect on overconfidence, and overconfidence mediates the relationship between representativeness and investment decisions in full mediating.
Impacts the Brand of Experience and Brand Image on Brand Loyalty: Mediators Brand of Trust
Marliawati, Annisa;
Cahyaningdyah, Dwi
Management Analysis Journal Vol 9 No 2 (2020): Management Analysis Journal
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/maj.v9i2.36945
This study is to examine the effect of brand experience and brand image on brand loyalty through brand trust. The population of this study is Ijjah_Collection customer via Shopee in Indonesia. The sample of this study consisted of 116 respondents using non-probability method. The method of collecting the data used questionnaire roomates then Analyzed using path analysis with IBM SPSS Statistics 22 program. The results of this study Showed: (1) brand experience has a positive and significant effect on brand loyalty, (2) brand image has a positive effect, but is not significant on brand loyalty, (3) brand experience has a positive effect and signficant on brand loyalty through brand trust, (4) brand image has a positive and significant effect on brand loyalty through brand trust, (5) brand trust has a positive and significant effect on brand loyalty.
Analysis of The Bankruptcy of Companies with Altman Model and Ohlson Model
Najib, Andi Septian;
Cahyaningdyah, Dwi
Management Analysis Journal Vol 9 No 3 (2020): Management Analysis Journal
Publisher : Universitas Negeri Semarang
Show Abstract
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Download Original
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Original Source
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Check in Google Scholar
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DOI: 10.15294/maj.v9i3.37797
Often companies that have been operating for a certain period forced to disperse because of increased financial distress that caused bankruptcy. There are two models that can be used to predict bankruptcy of companies, that is Altman model (Z-score) and Ohlson model. This study aims to determine the accuracy of the Altman model (Z-Score) and Ohlson's model in predicting bankruptcy of delisting companies in Indonesia Stock Exchange for 2015-2019 period.The population in this study were all of delisting companies in Indonesia Stock Exchange for 2015-2019 period, totaled 17 companies. The number of samples used in this study were 8 companies, by using purposive sampling method. Data analysis used data processing application SPSS version 25. The results showed that accuracy of the Altman model is 58.3%, while the Ohlson model is 79.2%. The conclusion of this research Ohlson model has the highest accuracy that compared to Altman model in predicting bankruptcy at delisting companies in Indonesia Stock Exchange for 2015-2019 period, with accuracy values of Ohlson model is 79.2% and 58.3% for the Altman model. For further researchers, it is expected to increase the number of samples of companies studied and extend the research periods in order to provides more accurate results, and combining the Altman and Ohlson models with other bankruptcy prediction models that can be applied in companies in Indonesia.
Determinants of Company Value: Pre and Post Crisis Global 2015
Witasari, Okti;
Cahyaningdyah, Dwi
Management Analysis Journal Vol 10 No 1 (2021): Management Analysis Journal
Publisher : Universitas Negeri Semarang
Show Abstract
|
Download Original
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Original Source
|
Check in Google Scholar
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DOI: 10.15294/maj.v10i1.40865
The purpose of this research was to study the determinant of the value of companies pre-and post-crisis global 2015 about companies registered on the Indonesian Stock Exchange 2012 - 2018. The population of this research were companies registered on the Indonesian Stock Exchange 2012 - 2018. The number of samples were 906 datas consist of 151 companies. The research sample was taken using purposive sampling technique. The datas analysis in this research used descriptive statistical analysis, a test model with the best panel data regression estimation, and multiple analysis. The model test results showed that the best panel data estimation model was the fixed effect model, while the best post data crisis estimation model was the random effect model. The hypothesis test results showed that institutional ownership did not influence with pre- and post-crisis company values, capital structure has a significant positive effect on pre- and post-crisis company values, company size had a significant negative effect on pre-crisis company values, and company size did not influence post-company value crisis. The conclusions of this research were that no contradiction about institutional ownership and capital structure to the values of the company both pre and post crisis, while the size of the company was related to the values of the company, where the pre-crisis influenced significant negative effect and post-crisis did not influence.