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All Journal Jurnal Ilmu Sosial Politik dan Humaniora (Jisora)
Mandra Lazuardi Kitri
School of Business and Management, Institut Teknologi Bandung
Humanities Social Sciences

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Impact Of Stock Repurchase Announcement On Indonesia Stock Market Reaction 2015-2019 Mandra Lazuardi Kitri; Cristian Eliezer Manurung
Jurnal Ilmu Sosial Politik dan Humaniora (Jisora) Vol 3 No 2 (2020): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (527.698 KB) | DOI: 10.36624/jisora.v3i2.76

Abstract

The negative global sentiment, Corona Virus Disease 2019 (COVID-19) caused several listed companies in Indonesia to conduct a stock repurchase in the hope of maintaining and increasing the company's stock price. The research objective is to analyze the effect of stock repurchase announcements on market reactions that are reflected in abnormal return and trading volume activity in 2015-2019 as a guide for companies to make decisions in the present and the future regarding the same issue. This research uses a sample of 64 companies listed on the Indonesia Stock Exchange (IDX) during the observation period. This study uses the event study method with the significance of the hypothesis test of 0.05. The results showed that there is no significant difference between before and after stock repurchase announcements for both variables. This is caused by the presence of negative sentiment throughout the observation period such as the Brexit tragedy, elections in the US won by Donald Trump, and the issue of the trade war by the US-China, this makes the market does not yet have full trust in the Indonesian capital market. Based on the results of the study, it can be concluded that the stock repurchase announcement did not have a significant effect on the market reaction.
Assessment of Investment Plan and Financing Strategy for Hobbyist-Based Marketplace as a New Business from PT XYZ Putri Nadiya Intan Safira; Mandra Lazuardi Kitri
Jurnal Ilmu Sosial Politik dan Humaniora (Jisora) Vol 4 No 1 (2021): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (525.241 KB) | DOI: 10.36624/jisora.v4i1.84

Abstract

PT XYZ is a successful technology enterprise, intends to open a new business line in e-commerce with unique selling propositions as a hobbyist-based marketplace. The marketplace, ABC, has built website and application generating event registration, communities, and articles. ABC still needs to reduce bugs and acquiring sellers to sell their products on. ABC needs to seek investments to fulfill the required financing at IDR 245,000,000 since PT XYZ needs to reallocate the money to another business. It firstly needs to determine the financial feasibility study of ABC with the capital budgeting method of NPV, IRR, and Payback Period. The amount of NPV at IDR 500,722,291.51, IRR at 13.32%, and PP at 4 years 2 months and 19 days are acceptable. The risk assessment with sensitivity analysis and Monte Carlo simulation determine the accounts that are risked by the assumption from the owners, the high risk are on Bike Selling quantity and COGS also Salary (Full-Time) with the probability of positive IRR at 97.80%. ABC wants to have financing schemes of 65%, 45%, and 25% equity where PT XYZ will give IDR 25,000,000 and intangible asset of IDR 61.600.000, this makes the 25% equity cannot be used, therefore it will be changed to 35.35% equity. With total share outstanding of 10.000 shares, the sales price of A, B, and C are IDR 46,199.55, IDR 43,803.40, and IDR 42,771.43 respectively. Capital structure analysis is needed to get the best value of ownership, yet, all alternatives can be used for attracting investors.
Impact Of Stock Repurchase Announcement On Indonesia Stock Market Reaction 2015-2019 Mandra Lazuardi Kitri; Cristian Eliezer Manurung
Jurnal Ilmu Sosial Politik dan Humaniora (JISORA) Vol 3 No 2 (2020): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik - Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (527.698 KB) | DOI: 10.36624/jisora.v3i2.47

Abstract

The negative global sentiment, Corona Virus Disease 2019 (COVID-19) caused several listed companies in Indonesia to conduct a stock repurchase in the hope of maintaining and increasing the company's stock price. The research objective is to analyze the effect of stock repurchase announcements on market reactions that are reflected in abnormal return and trading volume activity in 2015-2019 as a guide for companies to make decisions in the present and the future regarding the same issue. This research uses a sample of 64 companies listed on the Indonesia Stock Exchange (IDX) during the observation period. This study uses the event study method with the significance of the hypothesis test of 0.05. The results showed that there is no significant difference between before and after stock repurchase announcements for both variables. This is caused by the presence of negative sentiment throughout the observation period such as the Brexit tragedy, elections in the US won by Donald Trump, and the issue of the trade war by the US-China, this makes the market does not yet have full trust in the Indonesian capital market. Based on the results of the study, it can be concluded that the stock repurchase announcement did not have a significant effect on the market reaction.
Assessment of Investment Plan and Financing Strategy for Hobbyist-Based Marketplace as a New Business from PT XYZ Putri Nadiya Intan Safira; Mandra Lazuardi Kitri
Jurnal Ilmu Sosial Politik dan Humaniora (JISORA) Vol 4 No 1 (2021): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik - Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (525.241 KB) | DOI: 10.36624/jisora.v4i1.49

Abstract

PT XYZ is a successful technology enterprise, intends to open a new business line in e-commerce with unique selling propositions as a hobbyist-based marketplace. The marketplace, ABC, has built website and application generating event registration, communities, and articles. ABC still needs to reduce bugs and acquiring sellers to sell their products on. ABC needs to seek investments to fulfill the required financing at IDR 245,000,000 since PT XYZ needs to reallocate the money to another business. It firstly needs to determine the financial feasibility study of ABC with the capital budgeting method of NPV, IRR, and Payback Period. The amount of NPV at IDR 500,722,291.51, IRR at 13.32%, and PP at 4 years 2 months and 19 days are acceptable. The risk assessment with sensitivity analysis and Monte Carlo simulation determine the accounts that are risked by the assumption from the owners, the high risk are on Bike Selling quantity and COGS also Salary (Full-Time) with the probability of positive IRR at 97.80%. ABC wants to have financing schemes of 65%, 45%, and 25% equity where PT XYZ will give IDR 25,000,000 and intangible asset of IDR 61.600.000, this makes the 25% equity cannot be used, therefore it will be changed to 35.35% equity. With total share outstanding of 10.000 shares, the sales price of A, B, and C are IDR 46,199.55, IDR 43,803.40, and IDR 42,771.43 respectively. Capital structure analysis is needed to get the best value of ownership, yet, all alternatives can be used for attracting investors.
Co-Authors Cristian Eliezer Manurung Putri Nadiya Intan Safira