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All Journal Jurnal EMT KITA IJEBA (International Journal of Economic, Business & Applications) Dinamisia: Jurnal Pengabdian Kepada Masyarakat JURNAL VISIONIDA Jurnal Manajemen dan Bisnis Indonesian Journal of Economics, Social, and Humanities Procuratio : Jurnal Ilmiah Manajemen Kurs : Jurnal Akuntansi, Kewirausahaan dan Bisnis Management Studies and Entrepreneurship Journal (MSEJ) Current : Jurnal Kajian Akuntansi dan Bisnis Terkini Jurnal Ekonomi KIAT
Andewi Rokhmawati
Universitas Riau
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences Other

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ANALISIS PERBANDINGAN INDEK SAHAM UTAMA DUNIA, INDEK SEKTOR BURSA EFEK INDONESIA DAN NILAI TUKAR MATA UANG, SEBELUM DAN SESUDAH KEBIJAKAN MONETER BANK SENTRAL AMERIKA SERIKAT (THE FED RATE) (PERIODE 10-23 DESEMBER 2015) Cokro Wasito; Yulia Efni; Andewi Rokhmawati
Procuratio : Jurnal Ilmiah Manajemen Vol 5 No 2 (2017): Procuratio : Jurnal Ilmiah Manajemen
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (537.4 KB)

Abstract

This research aims to compare analysis world major composite index, Indonesia sectoral index and currency exchange, before and after the fed rate hike by central bank of United Stated on 17 December 2015. Event study was used as the research model. The reseach based on quantitative positivism metodoly, statistic non parametris (pair sample t-test). Population was world major composite index, Indonesia sectoral index and currency exchange on developed markets and emerging markets. Sample by Purposive sampling method, classified into two group, 5 day before event and 5 day after event. Pair t-test was used to compare two group of data. The result shows that fed rate hike on 17 desember 2015, are positive significant to IHSG (Indonesia), FTSE (United Kingdom), STI (Singapore), AORD (Australia), HSI (Hongkong), 000001.SS (China), but significant negative for DJI (United Stated). However, there is no significant difference for KLSE (Malaysia), and N225 (Japan). The result shows that fed rate hike on 17 desember 2015, are positive significant to Infrastructure, Basic Industry Chemical, Trade & Service, Manufacture, Consumer Goods, and Construction sector. However, there is no significant difference on Agriculture, Mining and Finance sector. The result shows that fed rate hike on 17 desember 2015, are negative significant to currency exchange GBP (United Kingdom), HKD (Hongkong), and Yuan (China), However, there is no significant difference for IDR (Indonesia), MYR (Malaysia), YEN (Japan), SGD (Singapore), AUD (Australia). Penelitian ini bertujuan menganalisis perbandingan Indek Saham Utama Dunia, Indek Sektor Bursa Efek Indonesia, dan Nilai Tukar Mata Uang, sebelum dan sesudah kebijakan moneter bank sentral Amerika Serikat (The Fed Rate) pada 17 desember2015. Event study model digunakan pada penelitian ini. Penelitian berdasarkan metodologi kuantitatif positivistik, statistic non parametrik (Pair t-test). Populasi adalah indek saham gabungan utama dunia, Indek Sektor Bursa Efek Indonesia dan nilai tukar mata uang pada negara maju dan emerging markets. Pengambilan sampel dengan metode purposive sampling, dibagi menjadi dua kelompok, 5 hari sebelum event dan 5 hari sesudah event, pair t-test digunakan untuk membandingkan kedua kelompok. Hasil menunjukkan kenaikan the fed rate pada 17 desember 2015, berpengaruh signifikan positif terhadap IHSG (Indonesia), FTSE (Inggris), STI (Singapura), AORD (Australia), HSI (Hongkong), 000001.SS (China), tapi berpengaruh signifikan negative terhadap DJI (Amerika Serikat). Namun tidak signifikan terhadap KLSE (Malaysia), dan N225 (Jepang). Hasil menunjukkan kenaikan the fed rate pada 17 desember 2015, berpengaruh signifikan positif terhadap sektor Infrastruktur, Industri Kimia Dasar, Perdagangan, Aneka Industri, Industri Barang Konsumsi, dan Properti. Namun tidak signifikan terhadap sektor Pertanian, Pertambangan, dan Keuangan. Hasil menunjukkan kenaikan the fed rate pada 17 desember 2015, berpengaruh signifikan negatif terhadap nilai tukar mata uang GBP (Inggris),HKD (Hongkong), dan YUAN (China), Namun tidak signifikan terhadap IDR (Indonesia), MYR (Malaysia), YEN (Jepang), SGD (Singapura), AUD (Australia).
PENGARUH VARIABEL MAKRO EKONOMI DAN KINERJA KEUANGAN TERHADAP RETURN SAHAM PADA INDUSTRI OTOMOTIF DI BURSA EFEK INDONESIA (Studi Pada Perusahaan Sektor Otomotif di Bursa Efek Indonesia) Hafiz Syamid Ardhi; H. Amir Hasan; Yulia Efni; Andewi Rokhmawati; Gusnardi Gusnardi
Kurs : Jurnal Akuntansi, Kewirausahaan dan Bisnis Vol 2 No 1 (2017): Kurs : Jurnal Akuntansi, Kewirausahaan dan Bisnis
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (302.38 KB)

Abstract

This research aims to determine the influence of macro economy variables and the performance of companies listed on Indonesia Stock Exchange. The population consisted of all companies listed on Indonesia Stock Exchange in the automotive and equipments subsectors. The samples were collected using purposive sampling method. There were 12 automotive and equipment companies included as the samples. The hypothesis in this research stated that there is an influence of macro economy and financial performance on stock return in automotive industry in Indonesia Stock Exchange. The data was analyzed using multiple linear regression. The research result showed that inflation, interest rate, and exchange rate have significant influence on company stock return. The interest rate and exchange rate have negative influence towards the profitability of automotive and equipment companies. Penelitian ini bertujuan untuk mengetahui pengaruh variabel makro dan kinerja perusahaan di Bursa Efek Indonesia. Populasi dari penelitian ini adalah seluruh perusahaan subsektor otomotif dan komponennya di Bursa Efek Indonesia. Metode penarikan sampel menggunakan metode purposive sampling. Sampel penelitian yaitu 12 perusahaan subsektor otomotif dan komponennya. Hipotesis pada penelitian ini ialah terdapat pengaruh variabel makro ekonomi dan kinerja keuangan terhadap return saham pada industri otomotif di Bursa Efek Indonesia. Teknik analisis data dengan menggunakan regresi linear berganda. Hasil penelitian inflasi, suku bunga dan nilai tukar memiliki pengaruh yang signifikan terhadap return saham perusahaan. Suku bunga dan nilai tukar memiliki pengaruh negatif terhadap profitabilitas perusahaan subsektor otomotif dan komponennya.
INFLUENCE COMPANY SIZE, CAPITAL STRUCTURE, DIVIDEND POLICY ON FINANCIAL PERFORMANCE WITH BIODIESEL PRODUCTION AS MODERATING VARIABLES IN PALM OIL PROCESSING COMPANIES ON THE INDONESIA STOCK EXCHANGE (IDX) Winarsih Winarsih; Yulia Efni; Andewi Rokhmawati
JURNAL MANAJEMEN DAN BISNIS Vol 10 No 2 (2021): JURNAL MANAJEMEN DAN BISNIS (TERBIT DESEMBER 2021)
Publisher : LPPM Press STIE Indragiri Rengat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34006/jmbi.v10i2.353

Abstract

This study aims to determine and analyze firm size, capital structure, dividend policy on the company's financial performance. To analyze biodiesel production strengthen the relationship between firm size, capital structure, dividend policy and company financial performance. The population in this study is the use of company data included in the palm oil processing sector companies that went public on the Indonesia Stock Exchange (IDX) in the period 2014 to 2019. The sample in this study was 12 companies that met the sampling characteristics that have been determined. The analytical technique used in this research is PLS Structural Equation Modeling (SEM) which is operated through the WarpPLS.5.0 program. The results of the study show that the size of the company and capital structure on financial performance. Dividend policy has no effect on financial performance. Company size, capital structure have a significant effect on financial performance with Biodiesel Production as a Moderating Variable. The results of financial research on dividend policy have no effect on company performance with biodiesel production as a moderating variable
The Effect of Sales Growth, Capital Expenditure, and Working Capital Efficiency on Indonesian-Listed-Consumer-Goods Firms’ Financial Performance with Capital Structure as Moderating Variable Youlanda Githa Dovita; Andewi Rokhmawati; Ahmad Fauzan Fathoni
Indonesian Journal of Economics, Social, and Humanities Vol 1 No 1 (2019)
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijesh.1.1.1-15

Abstract

This study aims to determine the effect of sales growth, capital expenditure and working capital efficiency on financial performance which is moderated by the capital structure. The population in this study was all consumer goods industry firms listed on the Indonesia Stock Exchange in 2014-2017. Sampling in this study was based on purposive sampling and obtained as many as 35 firms. The analytical method used was Partial Least Square (PLS) analysis. The results showed that sales growth and capital expenditure do not significantly affect capital structure; working capital and capital structure has a positive and significant effect on financial performance. Meanwhile, as a moderating variable, capital structure is not able to moderate the influence of sales growth on financial performance. Capital structure weakens the effect of capital expenditure and efficiency working capital on financial performance.
The Effect of Firm Cash Flow on Investment Decision Moderated by Financial Constraint and Mispricing Andewi Rokhmawati
Indonesian Journal of Economics, Social, and Humanities Vol 1 No 2 (2019)
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijesh.1.2.77-90

Abstract

This study aims to examine the effect of cash flows on investment decision that is moderated by financial constraint and mispricing. The population of the study was all listed-manufacturing firms in Indonesia from 2014 to 2016. Samples were chosen based on the availability of firms’ financial report covering the period of the study. By using moderated regression analysis where financial constraint and mispricing as moderating variables, the study concluded that financial constraint weakens the effect of cash flow on investment. Although lower financially constrained-firms have an opportunity to choose their source of funding, they prefer to finance their investment from an internal source of funding (from cash flows) due to lower risk. Furthermore, mispricing does not have a role as a moderating variable. In this condition, overvalued firms are indifferent from choosing the source of funding. Finally, when financial constraint and mispricing are signed as a moderating variable, they weaken the effect of cash flow on investment. It means that firms with lower financial constraint and overvaluation prefer to use external funding by issuing new common stocks because it provides a lower cost of capital.
REAKSI PASAR MODAL ATAS KEBIJAKAN KENAIKAN CUKAI DI INDONESIA Erik Alexander Gani; Yulia Efni; Andewi Rokhmawati
CURRENT: Jurnal Kajian Akuntansi dan Bisnis Terkini Vol. 2 No. 2 (2021): CURRENT : Jurnal Kajian Akuntansi dan Bisnis Terkini
Publisher : Program Studi Akuntansi Fakultas Ekonomi dan Bisnis Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/jc.2.2.184-204

Abstract

This study aims to analyze the reaction of the capital market to the increase in cigarette excise in Indonesia. This study focuses on cigarette companies listed on the Indonesia Stock Exchange as an increase in excise tax has an impact on the cigarette industry. There are 4 companies that are included in the cigarette industry which are the samples of this study. This study uses an event study to examine the effect of Abnormal Return, Trading Volume Activity and Bid-Ask Spread before and after the increase in excise tax. The findings of this study are that there is no difference in abnormal returns both before and after the announcement of the policy on the increase in cigarette excise in 2020. Other findings indicate that there is no difference in trading volume activity both before and after the announcement of the policy for the increase in cigarette excise in 2020. Other findings indicate that there is no difference in bids. ask spread both before and after the announcement of the 2020 cigarette excise tax increase.
The Effect of Diversification and Funding Decisions on Company Performance and Corporate Value with Good Corporate Governance (GCG) as Moderated Variable Elmayola Suchandiko; Yulia Efni; Andewi Rokhmawati
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 6, No 1 (2021)
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.6.1.19-30

Abstract

This study aims to analyze the effects of diversification and funding decisions on company performance and value of companies with Good Corporate Governance (GCG) as a moderating variable in an industrial manufacturing company listed on the Stock Exchange (IDX) in 2013-2017. Sampling method using purposive sampling techniques and accounting 41 manufacturing industry companies. Samples were analyzed by using PLS. The results of this study indicated that diversification has no significant significant effect on firm value. Funding decisions have a significant effect on the value of the company. The company's performance significantly influences the value of the company. The funding decision has a significant influence on the company's value through indirect. Diversification has a significant influence on the company's value through indirect. GCG has no significant effect in moderating the influence of funding decisions on firm value. GCG has a significant effect in moderating the effect of diversification on firm value.Keywords: Diversification, Financial Decision, Financial Performance, Firm Value, Good Corporate Governance
“MORE VALUEBLE?” PORTFOLIO MIX: ISLAMIC SOCIAL RESPONSIBILITY STOCK Herwinda Asri Wahyuni; Andewi Rokhmawati; Ahmad Fauzan Fathoni; Ifa Adina Yafiz
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 6, No 2 (2021)
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.6.2.45-56

Abstract

This research was conducted to analyze the optimal portfolio formation using the Single Index Model method by combining stocks included in the SRI-Kehati Index and listed on the Indonesian Sharia Stock Index (ISSI) with the aim of survival and applying sharia principles then measuring optimal portfolio performance using Sharpe Index, Treynor Index, and Jansen Alpha Index. The object of research used is stocks that are consistently included in the Sri Kehati Index and ISSI for the period December 2018 - December 2019. The results of this study show that the optimal portfolio formed has a higher return compared to the benchmark (IHSG) which is 1.99%, meanwhile, the standard deviation of the portfolio or it can be interpreted as portfolio risk is 1.1%. In performance appraisal, in addition to the Jensen Index, the optimal portfolio formed has better performance than the IHSG.
The Effect of Corporate Social Responsibility and Good Corporate Governance on Firm Value with Financial Performance as the Mediation Variable Meidy Ayu Nadia; Andewi Rokhmawati; Edyanus H Halim
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 5, No 1 (2020)
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.5.1.83-97

Abstract

The idea behind corporate social responsibility (CSR) is that companies not only have economic and legal obligation to shareholders but also obligations to stakeholders. Social responsibility (CSR) has close links with good corporate governance, like two sides of a coin; both have a strong foothold in the business world. The aim of this research was to analyze corporate social responsibility and good corporate governance to financial performance that influence the value of manufacturing companies sector basic industry and chemicals in 2015-2017, listed on the Indonesia Stock Exchange. The results of this study stated that Corporate Social Responsibility has a positive effect on financial performance, Good Corporate Governance does not affect financial performance. Corporate Social Responsibility has a positive effect on company value. Good Corporate Governance has a positive effect on company value. Financial performance has no effect on firm value. Financial performance does not mediate the relationship between Corporate Social Responsibilities to firm value. Financial performance does not mediate the relationship between Good Corporate Governance and firm value
Comparative Analysis of Herding Behavior in Indonesia, Malaysia, and Singapore. Adji Ramadhansyah; Andewi Rokhmawati; Fitri Fitri; Ifa Adina Yafiz
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 5, No 2 (2020)
Publisher : INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.5.2.53-65

Abstract

Herding Behavior is an investor bias that affects stock market price. Stock market is one of the factors that can influence economic condition in a country. This research examine the phenomenon of herding behavior in Indonesia, Malaysia, and Singapore from 2016 to 2019. This research used secondary data, stocks return and market return, and transformed it into Cross Sectional Absolute Deviation (CSAD) to test the dispersion level of stock return to find herding behavior indication using quantile regression. This research also comparing herding behavior between Indonesia and other two countries using independent sample t test. Result showed that in all countries there were no indication of herding behavior in all kind of market condition. This research also found the difference of herding behavior between Indonesia and other countries.
Co-Authors Adji Ramadhansyah Ahmad Fauzan Fathoni Alkhairani Aras Mulyadi Azriyenni Azhari Zakri Chiara Utami Sandra Cokro Wasito Edi Susilo Edyanus Herman Halim Elmayola Suchandiko Elvi Rahmayanti Erik Alexander Gani Fauziah Israyani Putri Fhad Ibnu Sina Basharahil Fitri Fitri Frida Christin Natalia Gusnardi Gusnardi H. Amir Hasan Hafiz Syamid Ardhi Haryetti Haryetti Herwinda Asri Wahyuni Ifa Adina Yafiz Ikma Zurani Kamaliah Kamaliah Kamaliah Maha Martabar Mangatas Lumbanraja Meidy Ayu Nadia Poppy Nurmayanti Qisky Maulesya Valdera Riztari Anggraini Winarsih Winarsih Youlanda Githa Dovita Yulia Efni