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ANALISIS KINERJA KEUANGAN MENGGUNAKAN RGEC (RISK PROFILE, GOOD CORPORATE GOVERNANCE, EARNING AND CAPITAL) SEBAGAI METODE UNTUK MENGUKUR TINGKAT KESEHATAN BANK (Studi pada Perusahaan Perbankan yang Terdaftar di BEI Periode 2011-2016) Zulfa Yunika; Suhadak Suhadak; Topowijono Topowijono
Jurnal Administrasi Bisnis Vol 50, No 6 (2017): SEPTEMBER
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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This study аims to determine аnd explаin the finаnciаl performаnce of bаnks listed on the BEI by meаsuring the level of bаnk heаlth using RGEC (Risk Profile, Good Corporаte Governаnce, Eаrning аnd Cаpitаl) in 2011-2016 period. The sаmple of this study consists of 21 bаnks listed on the IDX, publish the finаnciаl stаtements on the IDX, аnd issued GCG reports in а row during 2011-2016 period. This study uses secondаry dаtа derived from IDX, Аnnuаl Report аnd ICMD. The results bаsed on risk fаctor using NPL is "very good" indicаting "very heаlthy" bаnk condition in mаnаging non-performing loаns, while LDR receiving "good" rаting indicаting the condition of а "heаlthy" bаnk " in mаintаining the level of liquidity, GCG fаctor gets "good" rаting which shows the condition of "heаlthy" bаnk in bаnking mаnаgement. Eаrning fаctors get "very good" for ROА аnd NIM rаtios which shows the condition of "very heаlthy” bаnk in generаting profits, аnd cаpitаl fаctors using CАR hаve eаrned "very good" rаting thаt shows the bаnk's "very heаlthy" condition in mаnаging cаpitаl аdequаcy. Bаnk Heаlth Level bаsed on the overаll RGEC fаctor during the 2011-2016 period аchieved а "very heаlthy" rаting thаt reflects the bаnk's аbility to mаintаin its existing risks, corporаte governаnce, eаrnings аnd  cаpitаl with "very good" score.  Keyword: The Health level of bank, Risk Profile, Good Corporate Governance, Earning, Capital. ABSTRАK Penelitiаn ini bertujuаn untuk mengetаhui dаn menjelаskаn kinerjа keuаngаn perbаnkаn yаng terdаftаr di BEI dengаn mengukur tingkаt kesehаtаn bаnk menggunаkаn metode RGEC (Risk Profile, Good Corporаte Governаnce, Eаrning аnd Cаpitаl) periode 2011-2016. Sаmpel penelitiаn ini terdiri dаri 21 bаnk yаng terdаftаr di BEI, mempublikаsikаn lаporаn keuаngаn di BEI, dаn mengeluаrkаn lаporаn GCG berturut-turut selаmа periode 2011-2016. Penelitiаn ini menggunаkаn dаtа sekunder yаng berаsаl dаri IDX, Аnnuаl Report dаn ICMD. Hаsil penelitiаn berdаsаrkаn fаktor risk profile menggunаkаn NPL аdаlаh “sаngаt bаik” yаng menunjukkаn kondisi bаnk yаng “sаngаt sehаt” dаlаm mengelolа tingkаt kredit bermаsаlаh, sedаngаkаn LDR memperoleh predikаt “bаik” yаng menunjukkаn kondisi bаnk yаng “sehаt” dаlаm menjаgа tingkаt likuiditаs, fаktor GCG memperoleh predikаt “bаik” yаng menunjukkаn kondisi bаnk yаng “sehаt” dаlаm mengelolа mаnаjemen perbаnkаn, Fаktor eаrning memperoleh predikаt “sаngаt bаik” untuk rаsio ROА dаn NIM yаng menunjukkаn kondisi bаnk yаng “sаngаt sehаt” dаlаm menghаsilkаn lаbа, dаn fаktor cаpitаl menggunаkаn CАR memperoleh predikаt “sаngаt bаik”  menunjukkаn kondisi bаnk yаng “sаngаt sehаt” dаlаm mengelolа kecukupаn modаl. Tingkаt kesehаtаn bаnk berdаsаrkаn keseluruhаn fаktor RGEC  selаmа periode 2011-2016 memperoleh predikаt “sаngаt sehаt” yаng mencerminkаn bаhwа bаnk mаmpu menjаgа risiko yаng аdа, tаtа kelolа perusаhааn, rentаbilitаs dаn permodаlаnnyа dengаn “sаngаt bаik”. Kata kunci: Tingkat Kesehatan Bank, Profil Risiko, Tata Kelola Perusahaan, Rentabilitas, Permodalan
PENGARUH IHSG SEBAGAI LEADING ECONOMIC INDICATOR DAN BUSINESS CONFIDENCE TERHADAP FOREIGN DIRECT INVESTMENT (Studi pada Negara Indonesia Periode 2004-2017) Heni Triastuti; Suhadak Suhadak
Jurnal Administrasi Bisnis Vol 70, No 1 (2019): MEI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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This research was conducted in view of the importance investor activity in analyzing the economic conditions in a country, one of which is through the Jakarta Composite Index (JCI) as a leading economic indicator and its relationship with business activities towards foreign direct investment. JCI as a leading economic indicator means that the JCI is able to be used as an economic indicator that precedes the economy as a whole or can be referred to as an indicator that is able to predict the economy. This research includes the type of explanatory research with a quantitative approach. Data are analyzed annually through the partial least square method that is carried out through the Smart PLS 3.2.8 application. Based on the data analysis test, it was found that results showed a significant positive effect between the JCI as a leading economic indicator and business confidence in Indonesia, while business confidence toward foreign direct investment did not find significant results, it means that the movement of business confidence did not affect foreign direct investment movements. Likewise JCI as a leading economic indicator has no influence on foreign direct investment. Kеywords: Jakarta Composite Index (JCI), Leading Economic Indicator, Business Confidence, Foreign Direct Investment АBSTRАK Penelitian ini dilakukan mengingat pentingnya kegiatan investor dalam menganalisa kondisi perekonomian suatu negara, salah satunya melalui Indeks Harga Saham Gabungan (IHSG) sebagai leading economic indicator dan hubungannya dengan aktivitas bisnis terhadap investasi asing langsung. IHSG sebagai leading economic indicator memiliki makna bahwa IHSG mampu digunakan sebagai indikator ekonomi yang bersifat mendahului perekonomian secara keseluruhan atau dapat disebut sebagai salah satu indikator yang mampu memprediksi perekonomian.  Penelitian ini termasuk jenis explanatory research dengan pendekatan kuantitatif. Data dianalisis secara tahunan melalui metode partial least square yang dilakukan melalui aplikasi Smart PLS 3.2.8. Berdasarkan uji analisis data ditemukan hasil yang menunjukkan adanya pengaruh signifikan posiif antara IHSG sebagai leading economic indicator terhadap business confidence di Indonesia, sedangkan business confidence terhadap foreign direct investment tidak ditemukan hasil yang signifikan artinya pergerakan business confidence tidak memiliki pengaruh terhadap pergerakan foreign direct investment, begitu juga IHSG sebagai leading economic indicator tidak memiliki pengaruh terhadap foreign direct investment. Kata Kunci: IHSG, Leading Economic Indicator, Business Confidence, Foreign Direct Investment
PENGARUH EARNING PER SHARE (EPS), RETURN ON EQUITY (ROE), DAN PRICE EARNING RATIO (PER) TERHADAP HARGA SAHAM (Studi Pada Perusahaan Telekomunikasi Yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2010-2014) M. Bintang Bagya; Suhadak Suhadak; Siti Ragil Handayani
Jurnal Administrasi Bisnis Vol 41, No 1 (2016): DESEMBER
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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This research discussed the effect of EPS, ROE, and PER variable both partially and simultaneously, also variable that influence dominantly on stock price of telecommunication companies listed on Indonesia Stock Exchange in 2010 to 2014. The stock price used is closing price at year-end during the yearas of the research. The purpose of this research is to determine how much influence EPS, ROE, and PER on stock prices in order to assist investors in making decisions at company’s stock price. This research is a quantitive explanatory. Analysis model used in this research is multiple linear regression. This research object is the telecommunication companies listed in the Indonesia Stock Exchange 2010-2014. The results showed that simultaneous EPS, ROE, and PER significant effect on stock prices. The results showed that EPS and ROE both have significant effect on stock price, while PER does not have significant effect on stock prices. The dominant test results stated ROE as the most influencing variable on stock prices. Keywords: EPS, ROE, PER and stock prices. ABSTRAK Penelitian ini bertujuan untuk menganalisis dan mengetahui dampak yang diberikan EPS, ROE, dan PER terhadap harga saham baik secara parsial dan simultan. Jenis penelitian ini adalah penelitian eksplanatori dengan pendekatan kuantitatif. Metode yang digunakan dalam penelitian ini adalah regresi linier berganda. Sampel diambil dari perusahaan telekomunikasi yang terdaftar di Bursa Efek Indonesia tahun 2010-2014. Hasil penelitian ini menyatakan EPS, ROE, dan PER berpengaruh signifikan terhadap harga saham secara simultan. Hasil uji parsial EPS dan ROE berpengaruh secara signifikan, sedangkan hasil uji parsial menyatakan PER tidak berpengaruh signifikan. Hasil uji dominan menunjukan ROE sebagai variabel yang berpengaruh dominan terhadap harga saham. Kata kunci: EPS, ROE, PER dan Harga Saham.  
THE INFLUENCE OF CORPORATE GOVERNANCE AND CAPITAL STRUCTURE ON FINANCIAL PERFORMANCE (Studies on Companies that were Rated in CGPI Listed on The Indonesia Stock Exchange For 2011-2015) Lolita Sukasa; Suhadak Suhadak; R. Rustam Hidayat
Jurnal Administrasi Bisnis Vol 42, No 1 (2017): JANUARI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Penelitian ini bertujuan untuk menguji pengaruh dari corporate governance dan struktur1modal terhadap kinerja keuangan, yang dijadikan indikator dalam variable corporate governance pada penelitian ini adalah Corporate Governance Perception Index (CGPI), dan indikator variable struktur modal adalah Debt to Asset Ratio (DAR) dan Debt to Equity Ratio (DER).  Sedangkan kinerja keuangannya diukur dengan Return On Asset (ROA) dan Return1on1Equity (ROE). Jenis penelitian yang digunakan adalah explanatory research melalui pendekatan kuantitatif. Populasi penelitian ini adalah perusahaan yang mendapat1peringkat CGPI periode 2011-2015. Sampеl dalam pеnеlitian ini bеrjumlah 8 pеrusahaan dipеrolеh dari mеtodе purposivе sampling. Jеnis data yang digunakan adalah data sеkundеr dan tеknik pеngumpulan data dilakukan dеngan mеtodе dokumеntasi. Hasil pеnеlitian mеnunjukkan bahwa 1) CGPI dan DAR secara  parsial berpengaruh signifikan terhadap ROA, sedangan DER tidak berpengengaruh secara parsial terhadap ROA; 2) CGPI berpengaruh secara parsial terhadap ROE, sedangkan DAR dan DER tidak berpengaruh secara parsial terhadap ROE; 3) CGPI, DAR, dan DER berpengaruh secara simultan terhadap ROA dan ROE. Kata Kunci : Corporate Governance Perception Index, Debt to Asset Ratio, Debt to Equity Ratio, Return on Asset, Return On Equity. ABSTRACT This1research1aims1to investigate the effect of corporate governance and capital structure on financial performance, indicator of corporate governance in this research use Corporate1Governance1Perception Index (CGPI), and1capital structure indicator use Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER). While financial performance mesured with Return On Asset (ROA) and Return on Equity (ROE). This type of research used in this research is explanatory research with quantitative methods. Research population on this research is companies that were rated in CGPI listed on the Indonesia Stock Exchange for 2011-2015. Sample in this research amounted1231companies obtain1from sampling1purposive1method. This type1of data1used is1secondary1data. The data1collection technique1was done1with documentation. The result of this research showed 1) CGPI and DAR has a significant effect on ROA partially, but variable DER has no significant effect on ROA partially; 2) CGPI has a significant1effect on ROE partially, but DAR, and DER has no significant effect on the ROE partially; 3) CGPI, DAR, and DER has a significant effect on ROA and ROE1simultaneously. Keyword:1Corporate Governance Perception Index, Debt to Asset Ratio, Debt to Equity Ratio, Return on Asset, Return On Equity.  
PENGARUH WORLDWIDE GOVERNANCE INDICATORS DAN MACROECONOMIC TERHADAP IHSG (Studi pada Negara Indonesia, Malaysia, Filipina, Singapura, dan Thailand Tahun 2004-2016) Anisa Mutiah Razak; Suhadak Suhadak
Jurnal Administrasi Bisnis Vol 70, No 1 (2019): MEI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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The purpose of this study was to know the influence of worldwide governance indicators and macroeconomic on the Jakarta Composite Index (JSI). The results of this study will illustrate whether Indonesia's IHSG performance can be influenced by worldwide governance indicators and macroeconomic of the countries of Indonesi, Malaysia, the Philippines, Singapore and Thailand. The type of research used is explanatory research. The location of the study was carried out in five sample countries that were selected according to purposive sampling criteria, namely five countries with the highest Gross Domestic Product (GDP) in Southeast Asia. The five countries are Indonesia, Malaysia, Philippines, Singapore and Thailand. The data used are secondary data on Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law, Control of Corruption, GDP, Inflation, Interest Rate, Exchange Rate, and IHSG.The data analysis technique used in this study is Partial Least Square (SmartPLS 3). The results of this study indicate that worldwide governance indicators affect macroeconomic conditions in Indonesia, Philippines, Singapore and Thailand. Worldwide governance indicators have no effect on the IHSG in Indonesia, Malaysia, Philippines and Thailand. Macroeconomic influences IHSG in Malaysia, Philippines and Thailand. Keywords: Worldwide Governance Indicators, Macroeconomic, JSI, Asia Tenggara. АBSTRАK Tujuan penelitian ini adalah untuk mengetahui pengaruh worldwide governance indicators dan macroeconomic terhadap IHSG. Hasil penelitian tersebut akan memberikan gambaran apakah kinerja IHSG Indonesia dapat dipengaruhi oleh worldwide governance indicators dan macroeconomic negara Indonesia, Malaysia, Filipina, Singapura, dan Thailand. Jenis penelitian yang digunakan adalah explanatory research. Lokasi penelitian dilakukan di lima negara sampel yang telah dipilih sesuai kriteria pengambilan sampel (purposive sampling), yaitu lima negara dengan Gross Domestic Product (GDP) tertinggi di Asia Tenggara. Kelima negara tersebut adalah Indonesia, Malaysia, Filipina, Singapura, dan Thailand. Data yang digunakan adalah data sekunder mengenai Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law, Control of Corruption, GDP, Inflation, Interest Rate, Exchange Rate, dan IHSG. Teknik analisis data yang digunakan pada penelitian ini adalah Partial Least Square (SmartPLS 3). Hasil penelitian ini menunjukkan bahwa worldwide governance indicators berpengaruh terhadap macroeconomic pada negara Indonesia, Filipina, Singapura dan Thailand. Worldwide governance indicators tidak berpengaruh terhadap IHSG pada negara Indonesia, Malaysia, Filipina, dan Thailand. Macroeconomic berpengaruh terhadap IHSG pada negara Malaysia, Filipina, dan Thailand. Kata kunci: Worldwide Governance Indicators, Macroeconomic, IHSG, Asia Tenggara, Indonesia.  
PENGARUH MENGUATNYA USD TERHADAP PEREKONOMIAN NEGARA ASIA (Studi pada International Monetary Fund Periode 2013-2015) Fatha Ichsana; Suhadak Suhadak
Jurnal Administrasi Bisnis Vol 45, No 1 (2017): APRIL
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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The purpose of this study was to determine and explain the effect of the strengthening of the USD against 1) inflation, 2) export, and 3) imported in 5 Asian Countries partially. The data used is from the IMF, Trademap and Tradeeconomic. Analysis of data using simple linear regression with tool SPSS for Windows ver 22.00. Results of testing the hypothesis, suggesting that the effect is not significant partial of variable strengthening of the USD against the inflation rate in five Asian countries (China, India, Indonesia, Japan and South Korea) the effect was not significant partial of variable strengthening of the USD against the level of imports of the Chinese state, influence partial significant variable strengthening of the USD against the level of imports in four Asian countries (India, Indonesia, Japan and South Korea), the effect is not significant partial of variable strengthening of the USD against the export rate of the Chinese state, partial significant influence of variable strengthening of the USD against the level exports in four Asian countries (India, Indonesia, Japan and South Korea). Keyword : Exchange Rate, Inflation, Import, Export ABSTRAK Tujuan dari penelitian ini adalah mengetahui dan menjelaskan pengaruh menguatnya USD terhadap 1) inflasi, 2) ekspor, dan 3) impor di 5 Negara Asia secara parsial. Sumber data yang digunakan adalah dari IMF, Trademap dan Tradeeconomic. Analisis data menggunakan regresi linier sederhana dengan alat bantu program SPSS for Windows ver 22.00. Hasil pengujian hipotesis, menunjukkan bahwa pengaruh tidak signifikan secara parsial dari variabel menguatnya USD terhadap tingkat inflasi di 5 negara Asia (China, India,Indonesia, Jepang dan Korea Selatan)  pengaruh tidak signifikan secara parsial dari variabel Menguatnya USD terhadap tingkat impor negara China, pengaruh signifikan secara parsial dari variabel Menguatnya USD terhadap tingkat Impor di 4 negara Asia (India, Indonesia, Jepang dan Korea Selatan), pengaruh tidak signifikan secara parsial dari variabel Menguatnya USD terhadap tingkat ekspor negara China, pengaruh signifikan secara parsial dari variabel Menguatnya USD terhadap tingkat ekspor di 4 negara Asia (India, Indonesia, Jepang dan Korea Selatan). Kata Kunci : Nilai Tukar, Inflasi, Impor, Ekspor  
PENGARUH BLACK CAMPAIGN KELAPA SAWIT TERHADAP HARGA KELAPA SAWIT DUNIA DAN EKSPOR KELAPA SAWIT INDONESIA (Studi pada Negara Belanda, Spanyol, Cina dan India periode Agustus 2016 – Oktober 2017) Anita Dio Yonanda; Suhadak Suhadak
Jurnal Administrasi Bisnis Vol 72, No 2 (2019): JULI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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The purpose of this study is to make certain about differences in the price of palm in international market and Indonesian Palm Oil international sales because of the black campaign of palm oil by the European Union through the European Parliament Resolution: Report on Oil and Deforestation of Rain Forest. Event study research used as the study’s type using difference test as analysis technique. Sampling used a purposive sampling method which obtained Netherlands, Spain, China and India as samples. The results showed a significant difference on the prices of palm in international market after the resolution was issued. The value of Indonesian Palm Oil international sales at two countries was declining but the hypothesis test did not show a significant difference. Through these results it can be concluded that the black campaign carried out by the European Union made the price of palm drift down but does not influence Indonesian Palm Oil’s exports. Keywords: Export, Price, Palm, Resolution ABSTRAK Penelitian ini bertujuan untuk mengetahui ada tidaknya perbedaan harga kelapa sawit di pasar global dan ekspor kelapa sawit Indonesia sebelum dan sesudah dilakukannya black campaign minyak sawit oleh Uni Eropa melalui Resolusi European Parliament: Report on Oil and Deforestation of Rain Forest. Jenis penelitian yang digunakan adalah penelitian eventt studies dengan uji beda sebagai teknik analisis. Pengambilan sampel menggunakan metode sampel purposif sehingga didapatkan Belanda, Spanyol, Cina dan India sebagai sampelnya. Hasil penelitian menunjukkan adanya perbedaan yang signifikan antara harga kelapa sawit di pasar global sebelum dan sesudah resolusi dikeluarkan. Analisis deskriptif menunjukkan bahwa terjadi penurunan nilai ekspor kelapa sawit Indonesia terhadap dua negara namun uji hipotesis tidak menunjukkan adanya perbedaan yang signifikan. Melalui hasil tersebut dapat ditarik kesimpulan bahwa black campaign yag dilakukan oleh Uni Eropa berpengaruh terhadap harga kelapa sawit di pasar global namun tidak berpengaruh pada ekspor kelapa sawit Indonesia. Kata kunci: Ekspor, Harga, Sawit, Resolusi
UJI BEDA ABNORMAL RETURN, TRADING VOLUME DAN MARKET CAPITALIZATION SEBELUM DAN SESUDAH PENGUMUMAN KEBIJAKAN HARGA JUAL DMO BATUBARA (Studi pada Perusahaan Subsektor Pertambangan Batubara yang Listing di BEI Tahun 2018) Giska Viona Agatha; Suhadak Suhadak
Jurnal Administrasi Bisnis Vol 70, No 1 (2019): MEI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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On March 2018 due to the rise of global coal reference price, Ministry of Energy and Mineral Resource of Republic Indonesia (MEMR) determine coal sale price ceiling at USD70/mt to protect and control the supply of coal for public interest specifically for the supply of electricity through MEMR Decree No. 1395K/30/MEM/2018. This research examine the change of coal mining’s shares price by using abnormal return and the change of share’s trading activity by using trading volume and market capitalization. Event study methodology is used to identify market reaction in Indonesia Coal Mining Companies listed in IDX by using parametric test – paired sample t test and nonparametric test Wilcoxon Signed Ranks test with 15 days event window. The result of this research found that there is no significant difference of abnormal return due to the DMO coal sale price regulation, nevertheless there’s significant difference of trading volume and market capitalization due to the DMO coal sale price regulation. Keyword: Indonesia DMO Coal Regulation, Market Reaction, Abnormal Return, Trading Volume, Market Capitalization ABSTRAK Maret 2018 Kementerian Energi dan Sumber Daya Mineral menetapkan batas atas harga jual batubara sebesar USD70/mt sebagai bentuk proteksi dan pengendalian pasokan batubara untuk kepentingan penyediaan tenaga listrik melalui Keputusan Menteri No. 1395/K/MEM/2018. Penelitian ini menggunakan abnormal return untuk menguji perubahan harga saham dan trading volume serta market capitalization untuk menguji perubahan aktivitas perdagangan. Metode event study dalam penelitian ini digunakan untuk mengidentifikasi reaksi pasar modal di perusahaan subsektor batubara yang terdaftar di BEI pada tahun 2018 dengan menggunakan uji parametrik – paired sample t test dan uji non parametrik wilcoxon signed ranks test dnegan 15 hari periode jendela. Hasil dalam penelitian ini menyatakan bahwa tidak terdapat perbedaan signifikan abnormal return antara sebelum dan sesudah pengumuman kebijakan harga jual DMO batubara. Terdapat perbedaan signifikan trading volume dan market capitalization antara sebelum dan sesudah pengumuman kebijakan harga jual DMO batubara. Kata Kunci: Kebijakan Harga Jual DMO Batubara, Reaksi Pasar Modal, Abnormal Return, Trading Volume, Market Capitalization
DAMPAK KRISIS UTANG YUNANI TERHADAP INDEKS SAHAM EROPA DAN PENGARUHNYA TERHADAP IHSG (Studi Pada DAX, CAC 40, IHSG Periode 2006 - 2015) Helvera Nise; Suhadak Suhadak; Raden Rustam Hidayat
Jurnal Administrasi Bisnis Vol 41, No 1 (2016): DESEMBER
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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This research aims on know the influence of Greek debt crisis on the Europe Stock Index and its inffluence on Jakarta Stock Index (JCI). This research use German Stock Index (DAX) and France Stock Index (CAC 40) as representatives of the Europe Index and also its influence on JCI. The type of this research is explanatory research by descriptive research with qualitative approach. The data used are secondarys data. The data used were obtained from the European.eu site and investing. The analysis used is descritive analysis and regression analysis using eviews9. The result showed that Greek debt crisis partially no effect on the German Stock Index (DAX) as well as France Stock Index (CAC 40). Next, the results shows that German Stock Index (DAX) is partially significant effect on JCI, as well as CAC 40. Lastly, German Stock Index (DAX) and France (CAC 40) simultanly have a significant effect on Jakarta Stock Index (JCI). Keywords: Greek crisis, Debt crisis, DAX, CAC 40, JCI ABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh krisis utang Yunani terhadap indeks saham Eropa dan pengaruhnya terhadap IHSG. Penelitian ini menggunakan indeks saham Jerman (DAX) dan indeks saham Perancis (CAC 40) sebagai perwakilan dari indeks saham Eropa, perwakilan indeks saham Eropa tersebut diteliti pengaruhnya terhadap IHSG. Jenis penelitian yang digunakan yaitu explanatory research dan penelitian deskriptif dengan pendekatan kualitatif. Penelitian ini menggunakan data sekunder. Data yang disajikan diperoleh dari situs European eu dan investing. Metode analisis penelitian menggunakan analisis deskriptif dan analisis regresi dengan menggunakan eviews9. Hasil penelitian menunjukkan bahwa krisis utang Yunani tidak berpengaruh secara parsial terhadap indeks saham Jerman (DAX), hal yang sama juga terjadi dengan indeks saham Perancis (CAC 40). Selanjutnya, hasil menunjukkan bahwa Indeks  saham Jerman (DAX) secara parsial berpengaruh signifikan terhadap IHSG, begitu juga dengan CAC 40. Terakhir, Indeks saham Jerman (DAX) dan Perancis (CAC 40) secara simultan berpengaruh signifikan terhadap IHSG. Kata kunci: Krisis Yunani, Krisis Utang, DAX, CAC 40, IHSG
THE EFFECT OF JET FUEL PRICE AND MACROECONOMICS VARIABLES ON PROFITABILITY OF AIRLINE INDUSTRY IN ASIA (Study at Airline Companies in Indonesia, India, and China Period 2006-2015) Dimas Putra Pamungkas; Suhadak Suhadak
Jurnal Administrasi Bisnis Vol 50, No 3 (2017): SEPTEMBER
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

Penelitian ini bertujuan untuk menjelaskan pengaruh harga avtur dan variabel ekonomi makro yang ditunjukkan dengan kurs, PDB, dan inflasi terhadap profitabilitas yang ditunjukkan dengan net profit margin (NPM) industri penerbangan di Asia periode tahun 2006-2015. Sampel dari penelitian yaitu maskapai penerbangan plat merah di Indonesia, India, dan Cina. Penelitian ini menggunakan jenis penelitian penjelasan dengan pendekatan kuantitatif dan analisis regresi linear berganda. Hasil penelitan ini menunjukkan bahwa: Harga Avtur, Kurs, PDB, dan Inflasi berpengaruh signifikan terhadap NPM semua sampel secara simultan; Harga Avtur berpengaruh signifikan negatif terhadap NPM PT. Garuda Indonesia, Tbk. secara parsial. Sebaliknya, Harga Avtur tidak berpengaruh signifikan terhadap NPM Air India, Ltd. dan Air China, Ltd. secara parsial; Kurs berpengaruh signifikan negatif terhadap NPM Air India, Ltd. dan Air China, Ltd. secara parsial. Sebaliknya Kurs tidak berpengaruh signikan terhadap NPM PT. Garuda Indonesia, Tbk. secara parsial; PDB berpengaruh signifikan positif terhadap NPM semua sampel secara parsial; dan Inflasi berpengaruh signifikan negatif terhadap NPM Air India, Ltd. dan Air China, Ltd. secara parsial. Sebaliknya, Inflasi berpengaruh signifikan positif NPM PT. Garuda Indonesia, Tbk. secara parsial. Kаtа Kunci: Harga Avtur, Ekonomi Makro, Nilai Tukar (Kurs), PDB, Inflasi, Profitabilitias, Net Profit Margin ABSTRACT This research is conducted to examine the effect of jet fuel price and macroeconomic variables (exchange rate, GDP, and inflation) on profitability represented by net profit margin (NPM) of airline industry in Asia period 2006-2015. The samples of this research are flag carriers of Indonesia, India, and China. This research used explanatory research type with quantitative approach and multiple linear regression analysis. The results of this research indicated that; Jet Fuel Price, Exchange Rate, GDP, and Inflation have significant effect on NPM of all airline companies simultaneously; Jet Fuel Price has significant negative effect on NPM of PT. Garuda Indonesia, Tbk. partially. In contrast, Jet Fuel Price has no significant effect on NPM of Air India, Ltd. and Air China, Ltd. partially; Exchange Rate has significant negative effect on NPM of Air India, Ltd. and Air China, Ltd. partially, In contrast, Exchange Rate has no significant effect on NPM of PT. Garuda Indonesia, Tbk. partially; GDP has significant positive effect on NPM of all airline companies partially; and Inflation has significant negative effect on NPM of Air India, Ltd. and Air China, Ltd. partially. In contrast, Inflation has significant positive effect on NPM of PT. Garuda Indonesia, Tbk. partially. Key words: Jet Fuel Price, Macroeconomic, Exchange Rate, GDP, Inflation, Profitability, Net Profit Margin
Co-Authors Achmad Firhan Firzadi Acinta Bunga Putri Amanda Dwi Suciany Andi Wijayanto Anisa Mutiah Razak Anita Dio Yonanda Annisa Rahmah Syahidah Aprilia Nurul Cholifah Ari Darmawan Arum Masyitah Audy Varadigna Candra Puspita Ningtyas Devi Farah Azizah Dhira Aditya Nanda Dimas Putra Pamungkas Elsa Krisdayanti Badilo Fatha Ichsana Febrehane Sabattini Ferina Nurlaily Fitria Intan Ayuningtias Giska Viona Agatha Harisatul Agustin Hartati Vidiana Helvera Nise Heni Triastuti Hikmah, Mukhibatul Husnul Alfisyah Rina Ida Ayu Dwi Susanti Ika Sisbintari Khabibatur Rizkiyah Lolita Sukasa M. Bintang Bagya Mika Hastuti Br. Sianturi Moch. Dzulkirom Mochamad Rifki Cahya Pradana Muhammad Saifi Natasya Leony Christy Nila Firdausi Nuzula Patricia Hangga Kusuma Puspita Widyaningrum Qurrata A’yun R. Rustam Hidayat Raden Rustam Hidayat Radita Tri Cahyani Revi Aprella Riky Agus Setyawan Rosalita Rachma Agusti Samira Hanim Selly Febrianti WP Siti Ragil Siti Ragil Handayani Topowijono Topowijono Ulis Sa’adah Vallori Yossi Yola Velinda Sari Zulfa Yunika