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PENGARUH INSIDER OWNERSHIP, INSTITUTIONAL OWNERSHIP, DISPERSION OF OWNERSHIP, TINGKAT PERTUMBUHAN PERUSAHAAN, DAN RISIKO PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2003-2006 Tri Rahmawati, Christina Heti
Widya Warta No. 01 Tahun XXXV / Januari 2011
Publisher : Universitas Katolik Widya Mandala Surabaya Kampus Kota Madiun

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Abstract

To know partially the effect of insider ownership, institutional ownership, dispersion of ownership, degree of firm growth, and firm risk on dividend policy in firms that listed at Indonesia Stock Exchange of 2003–2006 period is the main purpose of this research. The other purpose is to know simultaneously the effect of insider ownership, institutional ownership, dispersion of ownership, degree of firm growth and firm risk on dividend policy in firms that listed at Indonesia Stock Exchange of 2003-2006 period. The population of this research was all the firms that listed at Indonesia Stock Exchange of 2003-2006 period namely, 266 in number. The sample, 35 firms, was taken by the use of purposive sampling method. The technique of data collection used was documentation. The data were obtained from center of stock exchange data, Faculty of Economics and Business, Gadjah Mada University of Yogyakarta. The data analysis made use of multiple linear regression method. The results showed that partially insider ownership had a negative effect on and was not significant to dividend policy. Institutional ownership had a positive effect on but was not significant to dividend policy. Dispersion of ownership had a positive effect on but was not significant to dividend policy. Degree of firm growth had a negative effect on and was significant to dividend policy. Firm risk had a negative effect on but was significant to dividend policy. Simultaneously insider ownership, institutional ownership, dispersion of ownership, degree of firm growth, and firm risk had a positive effect on and were significant to dividend policy.
PENGARUH SET KESEMPATAN INVESTASI DAN KEPEMILIKAN MANAJEMEN TERHADAP PEMBAYARAN DIVIDEN PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Tri Rahmawati, Christina Heti
Widya Warta No. 01 Tahun XLI/Januari 2017
Publisher : Universitas Katolik Widya Mandala Surabaya Kampus Kota Madiun

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Abstract

The purpose of the research was to examine: (1) the effect of investment opportunity set on dividend payout at the firms listed at Indonesia Stock Exchange at period 2013-2015 and (2) the effect of  investment opportunity set on dividend payout with insider ownership as a moderating variable at the firms listed at Indonesia Stock Exchange at 2013-2015 period. The population in this research was all of the firms listed at Indonesia Stock Exchange at 2013-2015 period, namely 266 firms. The samples were taken with purposive sampling method; they were 35 firms. The criteria of the firms becoming samples were (1) having insider ownership and (2) having amount of stocks to be sold. The data collection technique was using documentation of the center of stock exchange data, Faculty of Economics and Business UGM. The data analysis method was multiple linear regression. The analysis showed that the investment opportunity set had a negative impact on dividend payout, while the insider ownership strengthened the relationship.
The influence of financial literacy on the personal financial management of government employees Rahayu, Caecilia Wahyu Estining; Rahmawati, Christina Heti Tri
INOVASI Vol 15, No 2 (2019)
Publisher : Faculty of Economics and Business Mulawarman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (213.475 KB) | DOI: 10.29264/jinv.v15i2.5421

Abstract

Financial literacy is a combination of financial knowledge, financial attitude and financial behavior that every individual needs in order to avoid financial issues. By performing personal financial management appropriately, a person can improve the quality of his life. This research aims at examining the effects of financial knowledge, financial attitude and financial behavior on the personal financial management of government employees in Kalibawang Community Health Center. The population of this research is every active government employee in Kalibawang Community Health Center and the sample is 50 of them. This research uses a questionnaire and sampling method by means of a saturated sampling technique and applies Multiple Linear Regression analysis. In the results of this research, it is found that the financial attitude and financial behavior had a positive and significant effect on the personal financial management of government employees in Kalibawang Community Health Center. Otherwise, financial knowledge has a negative and insignificant effect on personal financial management. These results are expected to provide insight on the government employees in Kalibawang Community Health Center that better financial attitude and financial behavior of the government employees do influence to better their personal financial management.
ANALISIS PERBANDINGAN KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH AKUISISI Ike Janita Dewi., Vincensia Serenade, Christina Heti Tri Rahmawati,
Prosiding Seminar Nasional Multidisiplin Ilmu Vol 1, No 2 (2019): Prosiding Seminar Nasional : Pemanfaatan Literasi Digital Dalam Publikasi Ilmiah
Publisher : Universitas Respati Yogyakarta

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Abstract

Penelitian ini bertujuan untuk mengetahui perbedaan kinerja keuangan perusahaan sebelum dan sesudah akuisisi pada lima perusahaan yang melakukan akuisisi tahun 2010-2016. Rasio keuangan yang digunakan di dalam penelitian ini yaitu Quick Ratio (QR), Return on Assets (ROA), Earning Per Share (EPS), Net Profit Margin (NPM), Debt to Asset Ratio (DAR), dan Turn Assets Turnover (TATO). Analisis statistik yang digunakan di dalam penelitian ini adalah alat uji beda Wilcoxon Signed Rank Test. Hasil analisis yang diperoleh yaitu terdapat perbedaan kinerja keuangan yang signifikan dan nilai mean sebelum akuisisi lebih besar daripada sesudah akuisisi pada rasio Return on Assets (ROA), Net Profit Margin (NPM), Debt to Asset Ratio (DAR), dan Turn Assets Turnover (TATO). Rasio Earnings Per Share (EPS) tidak memperlihatkan adanya perbedaan yang signifikan. Sedangkan Quick Ratio (QR) memperlihatkan adanya perbedaan kinerja keuangan yang signifikan dan nilai mean sesudah akuisisi lebih besar daripada sebelum akuisisi.Kata kunci: akuisisi, kinerja keuangan perusahaan
ANALISIS PERBANDINGAN KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH AKUISISI Ike Janita Dewi., Vincensia Serenade, Christina Heti Tri Rahmawati,
Prosiding Seminar Nasional Multidisiplin Ilmu Vol 1, No 2 (2019): Prosiding Seminar Nasional : Pemanfaatan Literasi Digital Dalam Publikasi Ilmiah
Publisher : Universitas Respati Yogyakarta

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Abstract

Penelitian ini bertujuan untuk mengetahui perbedaan kinerja keuangan perusahaan sebelum dan sesudah akuisisi pada lima perusahaan yang melakukan akuisisi tahun 2010-2016. Rasio keuangan yang digunakan di dalam penelitian ini yaitu Quick Ratio (QR), Return on Assets (ROA), Earning Per Share (EPS), Net Profit Margin (NPM), Debt to Asset Ratio (DAR), dan Turn Assets Turnover (TATO). Analisis statistik yang digunakan di dalam penelitian ini adalah alat uji beda Wilcoxon Signed Rank Test. Hasil analisis yang diperoleh yaitu terdapat perbedaan kinerja keuangan yang signifikan dan nilai mean sebelum akuisisi lebih besar daripada sesudah akuisisi pada rasio Return on Assets (ROA), Net Profit Margin (NPM), Debt to Asset Ratio (DAR), dan Turn Assets Turnover (TATO). Rasio Earnings Per Share (EPS) tidak memperlihatkan adanya perbedaan yang signifikan. Sedangkan Quick Ratio (QR) memperlihatkan adanya perbedaan kinerja keuangan yang signifikan dan nilai mean sesudah akuisisi lebih besar daripada sebelum akuisisi.Kata kunci: akuisisi, kinerja keuangan perusahaan
THE DETERMINANT FACTORS OF PERSONAL FINANCIAL MANAGEMENT OF INDONESIAN MIGRANT WORKERS IN HONGKONG Caecilia Wahyu Estining Rahayu; Christina Heti Tri Rahmawati
MIX: JURNAL ILMIAH MANAJEMEN Vol 11, No 1 (2021): MIX : Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/mix.2021.v11i1.004

Abstract

This study aims to examine determinants factors of personal financial management of Indonesian migrant workers in Hongkong. The determinant factors are 1) demographic aspects include age, academic background, number of dependents, and 2) financial literacy. The sample used in this study was several Indonesian migrant workers who are still actively working in Hongkong, especially as household assistants. This study used questionnaire method to obtain the primary data from migrant workers. The sampling technique was non-random sampling which was accidental sampling technique. The data analysis used was Chi-Square analysis. The result shows that: 1) partially, there is relationship between ages and personal financial management; 2) there is a relationship between financial literacy and personal financial management; 3) partially, there is no relationship between academic background and number of dependents with personal financial management. The implication of this study is that by having good knowledge and understanding about finances, Indonesian migrant workers in Hongkong are expected to manage good and wise personal finances, so that they can improve their prosperity.
USING THE CAPITAL ASSET PRICING MODEL IN LQ45 STOCK INVESTMENT DECISION MAKING DURING THE COVID-19 PANDEMIC Orbi Kriste; Christina Heti Tri Rahmawati; Rubiyatno Rubiyatno
JURNAL EKOBIS DEWANTARA Vol 5 No 1 (2022): JURNAL EKOBIS DEWANTARA
Publisher : Program Studi Manajemen Fakultas Ekonomi UST

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26460/ed_en.v5i1.2900

Abstract

Intisari Capital Asset Pricing Model (CAPM) adalah model perhitungan yang digunakan untuk mengestimasi besarnya tingkat pengembalian yang diharapkan dari suatu investasi. Penelitian ini merupakan penelitian deskriptif dengan analisis kuantitatif yang bertujuan untuk mengetahui kinerja saham-saham yang terdaftar di indeks saham LQ 45 periode 2019-2020 berdasarkan tingkat pengembalian dan risiko serta mengetahui saham efisien dan tidak efisien pada masa pandemi Covid-19 berdasarkan metode CAPM. Populasi pada penelitian ini berjumlah 45 perusahaan dan sampel penelitian ini berjumlah 36 saham perusahaan yang terdaftar di Bursa Efek Indonesia dipilih berdasarkan teknik purposive sampling. Hasil penelitian menunjukkan dari 36 saham perusahaan yang dijadikan sampel terdapat 25 saham perusahaan yang termasuk dalam kategori saham efisien dan 11 saham perusahaan yang termasuk dalam kategori saham tidak efisien. Kelompok saham efisien memiliki tingkat pengembalian individu lebih besar daripada tingkat pengembalian yang diharapkan. Kelompok saham tidak efisien memiliki tingkat pengembalian individu lebih kecil daripada tingkat pengembalian yang diharapkan. Implikasi penelitian ini adalah keputusan investasi yang harus diambil oleh investor dalam membeli saham yang efisien dan berada dalam kondisi undervalue menurut CAPM, serta menjual saham tidak efisien karena saham dalam kondisi overvalue. Kata Kunci: CAPM, Investasi, Tingkat Pengembalian, Risiko, Efisien
Financial Performance and Stock Price: Another Review on Banks Listed in Indonesia Stock Exchange Erlyta Agustine Noviyanti; Caecilia Wahyu Estining Rahayu; Christina Heti Tri Rahmawati
Journal of Management and Business Environment (JMBE) Vol 3, No 1: July 2021
Publisher : Soegijapranata Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24167/jmbe.v3i1.3438

Abstract

Financial performance is an important factor to attract investors in buying stocks. This study aims to determine the influence of financial performance measured by Non-Performing Loan Ratio (NPL), Loan to Deposit Ratio (LDR), Capital Adequacy Ratio (CAR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Net Profit Margin (NPM) on price of stocks of banks listed in the Indonesia Stock Exchange (IDX) during 2014-2018. Of 43 banks, there were only 31 banks fit the criteria under purposive sampling technique. The data used in this study are secondary data obtained from the official website of Indonesia Stock Exchange (www.idx.co.id). Multiple linear regression analysis was applied for analyzing the data that were tested for classic assumptions. The results showed that simultaneously NPL, LDR, CAR, DER, ROA and NPM had significant influence on stock prices. Partially, the result showed that only ROA and NPM had a significant influence on stock prices. Banks must then focus mainly on ROA and NPM in attracting investors.
The Influence Of Liquidity And Profitability On Stock Prices Of Food And Beverage Companies Listed In Indonesia Stock Exchange Ermelinda Suryanti Loya; Christina Heti Tri Rahmawati
Jurnal Ilmiah Manajemen dan Bisnis Vol 8, No 2 (2022): Jurnal Ilmiah Manajemen dan Bisnis
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jimb.v8i2.14822

Abstract

This study aims to determine if:1) liquidity and profitability simultaneously have a significant influence on stock prices of food and beverage companies listed in Indonesia Stock Exchange (IDX) for the 2015-2019 period, 2) liquidity partially has a significant influence on stock prices of food and beverage companies listed in IDX for the 2015-2019 period, 3) profitability partially has a significant influence on stock prices of food and beverage companies listed in IDX for the 2015-2019 period. The research population is 26 food and beverage companies listed in IDX for the 2015-2019 period. The research sample is 16 companies. The sampling technique used is purposive sampling. Data are obtained from the companies’ annual reports. The data analysis technique in this study is multiple linear regression analysis. The results of this study show that: 1) liquidity and profitability simultaneously have a significant influence on stock prices of food and beverage companies listed in IDX for the 2015-2019 period, 2) liquidity partially has no significant influence on stock prices of food and beverage companies listed in IDX for the 2015-2019 period, 3) partially profitability has a significant influence on stock prices of food and beverage companies listed in IDX for the 2015-2019 period.
Struktur Kepemilikan, Profitabilitas, dan Nilai Perusahaan: Mediasi Kebijakan Deviden Christina Heti Tri Rahmawati
Jurnal Inspirasi Bisnis dan Manajemen Vol 4, No 1 (2020): JUNI 2020
Publisher : Lembaga Penelitian Universitas Swadaya Gunung Jati

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (118.749 KB) | DOI: 10.33603/jibm.v4i1.3362

Abstract

Abstract. This research aims to investigate the influence of insider and institutional ownership, profitability towards firm value through dividend payout ratio as the intervening variable. The research method was quantitative research. The samples employed were the manufacturing companies registered in Indonesia Stock Exchange 2016-2018. The statistic method was analyzed by path analysis. The results of this research showed that insider ownership brought significant negative influence towards the firm value; the profitability brought significant positive influence towards the firm value and the dividend payout ratio brought significant positive influence towards the firm value. The intervening testing results proved the dividend payout did not intervene in the influence of the insider and institutional ownership towards the firm value, and the dividend intervened in the influence of profitability towards the firm value. The research implication for investors includes the drastic increase in profit and benefits. Meanwhile, for companies, they could enhance the insider share ownership and performance to earn optimum profitability and dividend that could boost the firm’s value and grab more investors. Keywords: Insider Ownership; Institutional Ownership; Profitability; Firm Value; Dividend Payout Ratio. Abstrak. Penelitian ini bertujuan menguji pengaruh kepemilikan manajerial, kepemilikan institusional dan profitabilitas terhadap nilai perusahaan melalui kebijakan deviden sebagai variabel mediasi. Metode penelitian yang digunakan adalah penelitian kuantitatif. Sampel yang digunakan adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2016-2018. Metode statistik untuk menguji hipotesis menggunakan analisis jalur. Hasil penelitian menunjukkan kepemilikan manajerial berpengaruh negatif signifikan terhadap nilai perusahaan; profitabilitas dan kebijakan deviden berpengaruh positif signifikan terhadap nilai perusahaan serta kebijakan deviden berpengaruh positif signifikan terhadap nilai perusahaan. Sedangkan hasil uji mediasinya membuktikan kebijakan deviden tidak memediasi pengaruh kepemilikan manajerial dan kepemilikan institusional terhadap nilai perusahaan;serta kebijakan deviden memediasi pengaruh profitabilitas terhadap nilai perusahaan. Implikasi penelitian ini bagi investor dapat memilih perusahaan dengan tingkat laba yang tinggi sehingga menerima keuntungan tinggi. Sedangkan bagi perusahaan dapat meningkatkan kepemilikan saham manajerial dankinerja perusahaan agar menghasilkan profitabilitas yang optimal serta dividen yang tinggi, sehingga meningkatkan nilai perusahaan dan menarik investor. Kata kunci: Kepemilikan Manajerial; Kepemilikan Institusional;Profitabilitas; Nilai Perusahaan; Kebijakan Deviden.