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Corporate Social Responsibility and Leverage Level on High Profile Industries at Indonesian Stock Exchange of 2015-2019 Period Liliana Inggrit Wijaya; Arif Herlambang; Billy Evans
Media Ekonomi dan Manajemen Vol 37, No 1 (2022): January 2022
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

This study aims at analyzing the effect of corporate social responsibility (CSR) and the level of use of debt on financial performance. The variables used in this study included corporate social responsibility, debt, age, size and employees. This study uses a quantitative paradigm with the least square regression panel data processing method. The population in this study is all non-financial sector companies included in the high profile industry category at the Indonesia Stock Exchange (ISE) for the 2015-2019 period. The results prove that CSR has a significant positive effect on financial performance as proxied by Tobin's Q. When a company's CSR is high, it will have a positive impact on its financial performance. Then, leverage has a negative effect on the performance because the higher the debt, the lower the company's performance.

The effect of demographic factors on behavioral biases Vania Beatrice; Werner R. Murhadi; Arif Herlambang
Jurnal Siasat Bisnis Vol 25, No 1 (2021)
Publisher : Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jsb.vol25.iss1.art2

The purpose of this study was to examine the influence of demographic factors such as gender, age, education, occupation, income, and investment experience on investor behavior bias such as overconfidence bias, disposition effects, herding bias, and mental accounting. This type of research was causal research with a quantitative approach, and the analytical method used was the analysis of SEM (structural equation modeling). This research was conducted by distributing questionnaires to investors listed on the Indonesia Stock Exchange with a minimum age of 17 years. The results showed that overconfidence bias was influenced by investment experience while disposition effect was influenced by age, income level, and investment experience. Herding bias was influenced by age and occupation while mental accounting was influenced by income level.

The determinants of working capital management in Indonesia and the Philippines Cynthia Kartika Tjandra; Werner R. Murhadi; Arif Herlambang
Jurnal Siasat Bisnis VOL 26, NO 1 (2022)
Publisher : Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jsb.vol26.iss1.art8

Purpose: This study aims to analyze and identify determinants of working capital of manufacturing firms listed on Indonesia and the Philippines Stock Exchanges. This study focuses on working capital because firms with inadequate working capital may experience operational difficulties and lead to financial distress. Thereby, firms must have adequate working capital.Design/Methodology/Approach: The study employed panel data, with the final sample for Indonesia was 630 years of observation, while for the Philippines, the sample used was 210 years of observation. The sample of the study was manufacturing firms listed on Indonesia and the Philippines Stock Exchanges.Findings: The study results in the Indonesian sample show that profitability and growth opportunities have a significant positive effect on working capital. Asset tangibility, firm age, and leverage have a significant negative effect on working capital. While operating cash flow and firm size have no effect on working capital. In comparison, the results in the Philippines sample show that profitability has a significant positive effect on working capital. Asset tangibility and leverage have a significant negative effect on working capital. While operating cash flow, growth opportunities, age, and firm size have no effect on working capital.Research Limitations: This study has limitations, namely observations done only on manufacturing firms listed on Indonesia and the Philippines Stock Exchanges. Further research can use a sample with broader coverage in the service sector and expand variables that might affect working capital requirements, especially in the Covid-19 pandemic.Practical Implications: For a firm’s decision-makers, this present study can be used as a reference in making decisions related to working capital management. Bad decision-making in determining the amount of working capital may lead to high capital costs and financial distress.Originality/Value: What factors affect the amount of working capital is an attractive topic for many researchers today. Poor working capital management will result in a firm not being able to meet its maturing obligations and may lead to financial distress. The use of samples in developing countries, namely Indonesia and the Philippines, that is relatively similar, making this present study unique. By using samples in developing countries, this study can investigate differences in results between developing countries.

Faktor–faktor yang Mempengaruhi Dividend Perusahaan Sektor Manufaktur yang Terdaftar di Bursa Efek Indonesia dan Bursa Malaysia Fellicia Hadi Seputro; Werner Ria Murhadi; Arif Herlambang
Journal of Entrepreneurship and Business Vol. 1 No. 1 (2020): Journal of Entrepreneurship and Business (March)
Publisher : Program MM Universitas Surabaya

This study aims to investigate the determinants of firms dividend payout ratio, such as life cycle stage, independent non-executive director, risk, firm size, market-to-book ratio, cash to total asset, and leverage of manufacturing sector companies listed in the Indonesia Stock Exchange and Malaysia Stock Exchange in 2014-2018. This study uses the quantitative approach and multiple linear regression to analyze the data. The object of this research are 295 year observations in Indonesia Stock Exchange and 600 year observations in Malaysia Stock Exchange. The Independent variables used in this study are life cycle stage and independent non-executive directors. While the control variables are risk, firm size, market-to-book ratio, cash to total asset and leverage. The study finds that in manufacturing sector companies listed in the Indonesia Stock Exchange, life cycle stage, independent non-executive director, firm size and market-to-book ratio affect dividend payout ratio positively. On the other hand, leverage affect dividend payout ratio negatively. While risk and cash to total asset has no significant effect on dividend payout ratio. Meanwhile in manufacturing sector companies listed in the Malaysia Stock Exchange, the study finds that life cycle stage, independent non-executive director, firm size, market-to-book ratio and cash to asset affect dividend payout ratio positively. While risk and leverage affect dividend payout ratio negatively. Keywords: dividend policy, life cycle stage, independent non-executive director

THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON CEO COMPENSATION Erick Pradinata Fondas; Putu Anom Mahadwarta; Arif Herlambang
Manajemen dan Bisnis Vol 16, No 1 (2017): MARCH 2017
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

This study aims to determine the factors that affect the CEO compensation. Variables used in this study include corporate social responsibility, return on assets, CEO ownership, independent board, tobin's q, firm size, and leverage. The approach used in this research is quantitative approach. The samples in this study are companies in the mining sector listed on the Indonesia Stock Exchange (BEI) in the period of 2012-2016. Based on the results of the test, the results obtained that the variables of corporate social responsibility, return on assets, CEO ownership, board independent, firm size, and leverage have a significant influence on CEO compensation Return on assets variables have a significant positive impact on CEO compensation. CEO ownership variables have a significant negative impact on CEO compensation. Variable board independent, firm size, and leverage have a significant positive impact on CEO compensation.

THE INFLUENCE OF CHIEF EXECUTIVE OFFICER INDIVIDUAL FACTORS ON CAPITAL STRUCTURE Thomas Yulianto Prakoso; Putu Anom Mahadwartha; Arif Herlambang
Manajemen dan Bisnis Vol 16, No 1 (2017): MARCH 2017
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

This 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 independen variable 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, Capex variables does not indicate significant effect towards Leverage in LQ45 companies on the period 2012-2016.

THE INFLUENCE OF STOCK CHARACTERISTICS ON RETURN IN CONSUMER GOODS INDUSTRY COMPANIES Ivan Alexander Nanlohy; Putu Anom Mahadwartha; Arif Herlambang
Journal of Management and Business Vol 17, No 1 (2018): MARCH 2018
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

This study aims to determine the influence of stock characteristics with stock returns on consumer goods industry companies listed on the Indonesian Stock Exchange period 2011- 2015. Stock characteristics are illiquidity, size, beta, risk and dividend yield. This study uses quantitative approach by using multiple linear regression method in the form of panel data. This study uses a sample of consumer goods industry companies listed on the Indonesia Stock Exchange period 2011-2015. The number of samples used in this study is 125 years of observation consisting of 25 companies. The finding of this study indicates that the influence of stock characteristics with stock returns. Illiquidity has no significant positive effect on stock return. Size has no significant positive effect on stock return. Beta has a significant positive effect on stock return. Risk has a significant negative effect on stock return. Dividend yield has a significant negative effect on stock return.

THE INFLUENCE OF MODAL STRUCTURE, THE SIZE OF THE COMPANY AND SALES GROWTH ON COMPANIES PROFITABILITY THAT LISTED ON SRI-KEHATI INDEX Arif Herlambang; Putu Anom Mahadwarta; Niafatul Aini
Journal of Management and Business Vol 15, No 2 (2016): SEPTEMBER 2016
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jmb.v15i2.293

The purpose of this paper is investigate the impact of capital structure growth on firm profitability from companies that listed on SRI-KEHATI Indeks in 2011-2015. Independent variable that used to represent firm profitability is Return on Asset (ROA), while the independent variables that used to represent long term debt, short term debt, firm size, and sales growth. The data used in this study is secondary data derived from the financial statements of companies listed in the SRI-KEHATI index period 2011-2015. Data analysis technique in this research use regression analysis of panel data of Fixed Effect Model (FEM). From the test, it can be seen that the variable of long-term debt, short term debt, firm size and sales growth give significant influence to profitability of companies listed in SRI-KEHATI index in 2011-2015 period.

Identifikasi Peningkatan Kinerja melalui Motivasi dan Komitmen Afektif pada Karyawan Gartenhutte Trawas Erna Andajani; Endah Asmawati; Arif Herlambang; Zunairoh Zunairoh; Hazrul Iswadi; Felix Handani; Yayon Pamula Mukti
E-Dimas: Jurnal Pengabdian kepada Masyarakat Vol 13, No 4 (2022): E-DIMAS
Publisher : Universitas PGRI Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26877/e-dimas.v13i4.12503

Gartenhutte merupakan salah satu café yang viral di Desa Selotapak Kecamatan Trawas Kabupaten Mojokerto di Jawa Timur. Perkembangan café ini cukup pesat dari tahun 2018. Seiring kemasyuran café ini menuntut adanya peningkatan kinerja karyawan Gartenhutte. Keberadaaan café ini di Desa Selotapak dinilai dapat meningkatkan kesejateraan masyarakat sekitar. Masyarakat sekitar banyak yang direkrut dan bekerja sebagai karyawan Gartenhutte. Pihak Gartenhutte telah memberikan beragam pelatihan untuk memperbaiki dan meningkatkan kinerja karyawan. Penelitian ini bertujuan untuk menganalisis kinerja karyawan Gartenhutte melalui identifikasi motivasi intrinsik dan ekstrinsik, komitmen afektif.Penelitian ini adalah penelitian kausal deskriptif. Penelitan ini menggunakan data dari 28 karyawan Gartenhutte melalui pengisian kuesioner. Pengolahan data menggunakan regresi liner berganda. Hasil penelitian ini menunjukkan adanya motivasi ekstrinsik dan komitmen afektif tidak memberikan pengaruh signifikan positif terhadap kinerja. Pada motivasi intrinsikmemberikan pengaruh yang positif signifikan terhadap kinerja. Motivasi intrisik ini merupakan dorongan dari dalam diri karyawan untuk bisa berprestasi dan bekerja dengan baik. Karyawan Gartenhutte lebih bermotivasi bekerja karena dorongan dari dalam diri sendiri bukan faktor di luar dirinya. Suasana kerja yang nyaman juga tidak membeikan dampak untuk meningkatkan kinerja karyawan Gartenhutte.

THE INFLUENCE OF CHIEF EXECUTIVE OFFICER INDIVIDUAL FACTORS ON CAPITAL STRUCTURE Thomas Yulianto Prakoso; Putu Anom Mahadwartha; Arif Herlambang
Manajemen dan Bisnis Vol 16, No 1 (2017): MARCH 2017
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jmb.v16i1.316

This 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 independen variable 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, Capex variables does not indicate significant effect towards Leverage in LQ45 companies on the period 2012-2016.

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