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Abnormal Return and Trading Volume Activity Before and After Presidential Election 2019 ( Study on LQ-45 stock on February-July 2019) C H Asta Nugraha; Suroto Suroto
Media Ekonomi dan Manajemen Vol 34, No 2 (2019): Business Challenges in Global Competition
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (413.756 KB) | DOI: 10.24856/mem.v34i2.1064

Abstract

This study aims to find out the empirical evidence of Indonesia capital market investors’ reaction toward presidential election 2019. The population in this study is the companies’ stocks which are included in the LQ-45 index during this study. The data used is secondary data in the form of LQ-45 stocks and daily Composite index three days before and three days after the event. By implementing the one sample t-test and paired samples t-test, the result shows that there is a positive and significant abnormal return around the event especially on the third day (t+3) after the event.  Moreover, there is an insignificant difference in the average of negative abnormal return and significant difference on the average of negative trading volume activity, before and after the presidential election 2019.
The Effect of Corporate Social Responsibility Disclosures And Financial Information on Abnormal Return (Empirical Study on Food and Beverage Sub-sector Manufacturing Companies Listed on Indonesian Stock Exchange in 2013-2017) Suroto Suroto; Ch. Asta Nugraha
Media Ekonomi dan Manajemen Vol 34, No 1 (2019): The Importance of Personality and Strategy in Successful of Corporate Performan
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (407.802 KB) | DOI: 10.24856/mem.v34i1.935

Abstract

This study aims to find empirical evidence of the effect of disclosure of corporate social responsibility and financial information proxied by accounting profits and return on assets to abnormal returns in food and beverage sub-sector manufacturing companies. The population in this study are all companies whose shares are consistently incorporated in the food and beverage sub-sector during the study period. The data used is secondary data in the form of annual reports. The statistical test used to test the hypothesis is panel data regression with a random effect model.The results of this study indicate that disclosure of corporate social responsibility has a negative and insignificant effect on abnormal returns, accounting earnings have a negative and insignificant effect on abnormal returns and return on assets have a positive and significant effect on abnormal returns.Keywords: corporate social responsibility, accounting profit, return on assets and abnormal return.
Analisis Portofolio Optimal Menurut Model Indeks Tunggal (Studi Empiris Pada Saham Lq 45 Di Bursa Efek Indonesia Periode Agustus 2012 - Juli 2015) Suroto Suroto
Media Ekonomi dan Manajemen Vol 30, No 2 (2015): Upaya Membangun Keunggulan Bersaing Organisasi di Era Pasar Bebas
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (955.493 KB) | DOI: 10.24856/mem.v30i2.243

Abstract

Abstrak Tujuan penelitian ini adalah untuk mengetahui proporsi masing-masing saham yang membentuk portofolio optimal,  besarnya tingkat pengembalian  yang diharapkan dan  risiko dari portofolio optimal serta apakah diversifikasi lebih menguntungkan dibandingkan investasi pada saham individual. Tehnik pengambilan sampel menggunakan purposive sampling. Ukuran sampel sebanyak 24 perusahaan yang konsisten masuk dalam perhitungan indeks LQ-45 periode Agustus  2012- Juli 2015. Tehnik analisis data  menggunakan  model indeks tunggal.                Hasil penelitian menunjukkan  terdapat 8 saham  yang masuk dalam portofolio optimal dengan proporsi masing-masing saham, yaitu ICBP sebesar 2,32%, GGRM sebesar 2,19%, PTBA sebesar 2,17%, UNVR sebesar 44,59%, EXCL sebesar 1,62%, AALI 1,88% sebesar , AKRA 12,91% sebesar dan BBCA sebesar 32,33%. Portofolio optimal yang dibentuk  menjanjikan tingkat pengembalian yang diharapkan sebesar 2,7% per bulan dengan risiko sebesar  7,75%. Investor yang bersikap menghindari risiko lebih menyukai melakukan diversifikasi daripada investasi sepenuhnya pada saham individual. Abstract The purposes of this study was to determine the proportion of each stock which  formed an optimal portfolio,  the level of expected rate of return and  risk of the optimal portfolio and whether diversification is more profitable than investing in individual stocks  The sampling technique used  purposive  sampling. The sample size is  24 (twenty four) companies that consistently included in LQ-45 index calculation period August  2012-july 2015. Data were analyzed using single index model. The results of the study showed there are 8 (eight) stocks incluided in the optimal portfolio with the proportion of each share, the ICBP of  2.32%, GGRM of 2.19%, PTBA of  2.17%, UNVR of  44.59%, EXCL of 1.62%, AALI of 1.88% AKRA of  12.91% and  BBCA of  32.33%. Optimal portfolio has formed promised 2.7% the expected rate of return per month with a risk of 7.75%. Investor are being risk averse prefers to diversify rather than fully investing in individual stocks.Keywords: Optimal Portfolio, Single Index Model, LQ-45 Index
Analisis Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Studi Empiris Pada Perusahaan LQ-45 (Yang Terdaftar Di Bursa Efek Indonesia Periode Februari 2007- Januari 2017) Suroto Suroto
Serat Acitya Vol 7, No 2 (2018): Determinan dan Transaksi dalam Masyarakat
Publisher : FEB UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (176.794 KB)

Abstract

Penelitian ini bertujuan untuk menguji pengaruh return on asset, ukuran perusahaan, dividend payout ratio dan debt to equity ratio terhadap nilai perusahaan  pada perusahaan yang konsisten tergabung dalam Indeks LQ45 yang terdaftar di BEI periode Februari 2007 – Januari 2017. Populasi penelitian ini adalah perusahaan-perusahaan yang konsisten tergabung dalam indeks LQ 45 selama periode penelitian sebanyak 10 perusahaan.  Data yang digunakan adalah data sekunder berupa ringkasan kinerja perusahaan tercatat. Alat analisis data yang digunakan adalah Regresi data panel dengan pendekatan common effect.  Hasil penelitian menunjukkan bahwa return on equity berpengaruh positif dan signifikan terhadap nilai perusahaan, ukuran perusahaan (size) berpengaruh negatif dan signifikan terhadap nilai perusahaan, sedangkan dividend payout ratio berpengaruh negatif tidak signifikan terhadap nilai perusahaan, dan debt to equity ratio berpengaruh positif tidak signifikan terhadap nilai perusahaan.Kata kunci : return on assets ratio, ukuran perusahaan, dividend payout ratio, debt to equity ratio, nilai perusahaan.This study aims to examine the effect of return on assets, firm size, dividend payout ratio and debt to equity ratio on firm value in companies that are consistently incorporated in the LQ45 Index listed on the IDX for the period February 2007 - January 2017. The population of this study are companies which are consistently incorporated in the LQ 45 index during the study period of 10 companies. The data used is secondary data in the form of a summary of the performance of listed companies. The data analysis tool used is panel data regression with a common effect approach.The results showed that return on equity had a positive and significant effect on the value of the company, the size of the company (size) had a negative and significant effect on the value of the company, while the dividend payout ratio had a negative effect not significant on firm value, and the debt to equity ratio had a positive and not significant effect on the value of the company.Keywords: return on assets, company size, dividend payout ratio, debt to equity ratio, company value.
Determinan Audit Delay (Studi Empiris pada Perusahaan yang Tergabung dalam Indeks LQ-45 di Bursa Efek Indonesia Periode Februari 2012 – Januari 2017 ) Sartim Sartim; Suroto Suroto
Serat Acitya Vol 7, No 2 (2018): Determinan dan Transaksi dalam Masyarakat
Publisher : FEB UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (164.413 KB)

Abstract

Penelitian ini bertujuan untuk menguji faktor-faktor yang mempengaruhi  audit delay pada perusahaan yang tergabung dalam indek LQ-45 yang tercatat di bursa efek Indonesia periode februari 2012 – januari 2017. Populasi penelitian ini adalah seluruh perusahaan yang  sahamnya konsisten tergabung dalam indeks LQ 45 dan terdaftar di Bursa Efek Indonesia periode februari 2012 – januari 2017 sebanyak 24 perusahaan.  Data yang digunakan adalah data sekunder berupa laporan keuangan tahunan. Uji statistik yang digunakan untuk menguji hipotesis adalah regresi data panel dengan random effect model.Hasil pengujian hipotesis menunjukkan bahwa ukuran perusahaan berpengaruh  negatif dan signifikan terhadap audit delay, sedangkan profitabilitas, ukuran kantor akuntan publik dan opini auditor berpengaruh negatif tidak signifikan terhadap audit delay. Kata Kunci : audit delay, ukuran perusahaan, profitabilitas, ukurann akuntan publik , opini auditor.This study aims to examine the factors that affect audit delay in companies incorporated in the LQ-45 index listed on the Indonesian stock exchange period February 2012 - januari 2017. The population of this study are all companies whose shares are consistently incorporated in the LQ 45 index and listed in Indonesia Stock Exchange period February 2012 - januari 2017 as many as 24 companies. The data used are secondary data in the form of annual financial statements. The statistical test used to test the hypothesis is panel data regression with random effect model.The result of hypothesis test shows that firm size has negative and significant effect on audit delay, while profitability, size of public accountant office and auditor opinion have negative effect not significant to audit delay.Keywords: audit delay, firm size, profitability, public accountant size, auditor's opinion.
PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (Studi Empiris Pada Perusahaan LQ-45 Yang Terdaftar Di Bursa Efek Indonesia Periode Februari 2010-Januari 2015) Suroto Suroto
Serat Acitya Vol 4, No 3 (2015): faktor-faktor keberhasilan dalam kehidupan
Publisher : FEB UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (276.852 KB)

Abstract

The aim of this study is to examine effect of investment decisions, financing decisions and dividend policy  on firm value of  companies  in the LQ-45 index  listed on the Indonesia Stock Exchange in the period Februari 2010 to January 2015.  The sample are taken by purposive  sampling. The sample is  16 companies with  sum observation   80. The analysis tehnique in study used multiple regression ordinary least square with α = 0,05. Based on results of data analysis show that Investment decisions significant positive affects on firm value, Financing  decisions  significant  negative affects on firm value and Dividend policy has negative not significant  effect on firm value.  Keyword : firm value, investment decisions, financing decisions, dividend policy.
DETERMINAN NILAI PERUSAHAAN Suroto Suroto
Serat Acitya Vol 5, No 1 (2016): Berlaku seperti Hukumnya
Publisher : FEB UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (221.316 KB)

Abstract

Tujuan penelitian ini adalah untuk mengetahui pengaruh keputusan investasi, keputusan pendanaan dan kebijakan dividen terhadap nilai perusahaan dalam indeks LQ-45 yang tercatat di Bursa Efek Indonesia periode Februari 2010 –Januari 2015. Ukuran sampel penelitian ini sebanyak 15 perusahaan yang ditentukan dengan rumus Slovin dan teknik pengambilan sampel yang digunakan adalah  proportionil random sampling.Tehnik analisis yang digunakan adalah regresi linier berganda Ordinary Least Square dengan α = 0,05.Hasil analisis ditemukan bahwa keputusan investasi berpengaruh positif dan signifikan terhadap nilai perusahaan, keputusan pendanaan berpengaruh positif dan signifikan terhadap nilai perusahaan, kebijakan dividen berpengaruh negatif tidak signifikan terhadap nilai perusahaan dan ukuran perusahaan berpengaruh negatif dan signifikan terhadap nilai perusahaan, namun bukan merupakan variabel kontrol.Kata Kunci: keputusan investasi, keputusan pendanaan, kebijakan dividen, ukuran perusahaan dan nilai perusahaan. ABSTRACTThe aim of this study is to examine effect of investment decisions, financing decisions and dividend policy  on firm value of  companies  in the LQ-45 index  listed on the Indonesia Stock Exchange in the period Februari 2010 to January 2015. The sample is  15 companies with Slovin method and the sample are taken by proporsional random sampling. The analysis tehnique in study used multiple regression ordinary least square with α = 0,05. The results show that Investment decisions has significant positive effects on firm value, financing  decisions was significant positive effects on firm value, dividend policy has negative not significant effect to firm value,  and firm size has significant negative  effect on firm value, but is not control variable.  Key    Words:     investment decisions, financing decisions, dividend policy, firm size and  firm value.
FAKTOR - FAKTOR YANG MEMPENGARUHI DIVIDEND PAYOUT RATIO PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2010 - 2012 Suroto Suroto
Serat Acitya Vol 4, No 1 (2015): Pemberdayaan Sumber Daya bagi Kehidupan
Publisher : FEB UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (307.976 KB)

Abstract

Abstraksi Penelitian ini bertujuan untuk menguji faktor-faktor yang mempengaruhi Dividend payout ratio pada perusahaan yang terdaftar di Bursa Efek Indonesia   periode  2010-2012. Populasi dalam penelitian ini adalah seluruh perusahaan yang terdaftar di Bursa Efek Indonesia  periode 2010-2012. Teknik  sampel yang digunakan adalah purposive sampling dan didapat  jumlah observasi sebanyak 97 perusahaan. Teknik analisis yang digunakan adalah regresi linear berganda.  Persamaan regresi yang diperoleh adalah DPR = 7,371 - 0,074LN INSD - 0,175LN DER – 0,268LN ROE - 2,033LN FS + 0.435LN IOS + e. Proporsi variasi Dividend payout ratio dari rata-ratanya yang dijelaskan oleh Insider ownership, Debt to equity ratio , Return on equity , Firm size dan Investment opportunity set sebesar 20,4%. Sedangkan sisanya sebesar 79,6% dijelaskan variabel lain di luar penelitian . Hasil pengujian hipotesis menunjukkan bahwa variabel Insider ownership, Debt to equity ratio dan Firm size berpengaruh negatif  tidak signifikan terhadap Dividend payout ratio . Return on equity berpengaruh negatif  signifikan dan Investment opportunity set berpengaruh positif  signifikan terhadap Dividend payout ratio. Kata kunci :  Insider ownership, Debt to equity ratio, Return on equity , Firm size , Investment opportunity set dan Dividend payou ratio. Abstract The aim of this study is to examine the factors which is influence Dividend Payout Ratio campenies listed on the Indonesia Stock Exchange in the period 2010 to 2012. The population in this study are allcompanies listed on the Indonesia Stock Exchange in the period of 2010-2012. The research sample was determined by purposive sampling to obtain sum observation of 97companies. Technick analysis is a multiple regression. Regression equation obtained is DPR = 7,371 - 0,074LN INSD - 0,175LN DER – 0,268LN ROE - 2,033LN FS + 0.435LN IOS + e . Coefficient of determination  is 20,40 % which means the proportion of variation in the DPR of the average described by INSD, DER, ROE and IOS is 20,40%, where as the remaining balance of 79,60% is explained by other variable not prensented in the study. This study showed that the insider ownership, debt to equity ratio and fime size have a negative not significant effect on the dividend payout ratio, return on equity ratio has negative  significant on the  dividend payout ratio and investment  opportunity set has positif and significant on the dividend payout ratio. Keywords: Insider ownership, Debt to equity ratio, Return on equity, Firm size , Investment opportunity set dan Dividend payout ratio