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All Journal AKURASI: Jurnal Riset Akuntansi dan Keuangan JASF (Journal of Accounting and Strategic Finance) Jurnal Akuntansi & Perpajakan Jayakarta JURNAL AKUNTANSI KEUANGAN DAN MANAJEMEN Jurnal Akuntansi dan Keuangan Jurnal Pengabdian Masyarakat dan Riset Pendidikan Mount Hope Management International Journal Akurasi Jurnal Studi Akuntansi Pajak Keuangan Journal Liaison Academia and Society
Ringkot P Nainggolan
Sekolah Tinggi Ilmu Ekonomi Jayakarta
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Mathematics Social Sciences Other

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Trading Volume Activity Surrounding Earnings Releases: Evidence from Indonesia Rexon Nainggolan; Ringkot P Nainggolan
JASF: Journal of Accounting and Strategic Finance Vol. 6 No. 2 (2023): JASF (Journal of Accounting and Strategic Finance) - December 2023
Publisher : Accounting Department, Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jasf.v6i2.402

Abstract

The study investigates trading volume activities post-earnings announcement and their impact on abnormal returns. The objectives are to examine the changes in trading volume activities in response to earnings release and to measure the impact of the changes in trading volume activities on the cumulative average abnormal returns post-earning announcement. The study analyzes the trading volume response around the earnings announcement by comparing the ratio of trading volume activity (TVA) post-earnings announcements with the TVA during the estimation window. It reports an apparent increase in trading volume activity on day +2, indicating a slightly delayed reaction to the event's information. However, the findings indicate a significant relationship between cumulative abnormal returns and trading volume during the post-earning announcement abnormal return in a short period, following the semi-strong form of market efficiency. The study focuses on year-end announcements and does not evaluate interim announcements. The market response to interim data may vary and requires validation through an additional investigation. This implies that market traders should implement an effective trading strategy before the entire market reacts to the earnings announcement. Furthermore, the research findings underscore opportunities for policymakers to improve market infrastructure, hence augmenting the market's efficacy in conveying information pertaining to earnings releases.
Edukasi Keamanan dan Privasi di Media Sosial pada Siswa SMK Muhammadiyah 6 Jakarta Hidayatul Ichwan; Thomas Budiman; Zulhalim Zulhalim; Ifan Junaedi; Rumadi Hartawan; Adrian Adrian; Ringkot P. Nainggolan
Journal Liaison Academia and Society Vol 5 No 4: Desember 2025
Publisher : Lembaga Komunikasi dan Informasi Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58939/j-las.v5i4.1162

Abstract

Di era digital yang semakin berkembang ini, platform komunikasi seperti Media Sosial telah menjadi bagian integral dalam kehidupan sehari-hari, terutama di lingkungan sekolah. Namun, penggunaan Media Sosial ini tanpa memperhatikan langkah-langkah pencegahan privasi yang tepat dapat meningkatkan risiko kebocoran data pribadi. Oleh karena itu, diperlukan upaya Pengabdian Kepada Masyarakat (PKM). PKM ini bertujuan untuk memberikan edukasi kepada Siswa SMK Muhammadiyah 6 Jakarta tentang pentingnya menjaga keamanan data pribadi dimedia social dan pencegahannya. Sosialisasi ini difokuskan pada pemahaman tentang data pribadi, potensi ancaman kebocoran data yang terjadi di Sosial Media, serta langkah-langkah pencegahan yang dapat diambil untuk melindungi data pribadi. Dalam kegiatan ini, peserta akan diberikan materi mengenai cara-cara mengamankan data disosial media, mengenali tanda-tanda adanya potensi kebocoran data, pentingnya kesadaran diri dalam berbagi data pribadi secara online, dan lain-lain. Hasil dari kegiatan ini tentu peningkatan pemahaman pelajar tentang pentingnya menjaga informasidan data pribadi, serta kesadaran akan risiko yang terkait dengan penggunaan internet. Diharapkan, dengan edukasi yang tepat, pelajar dapat menjadi pengguna internet yang lebih bijak dan bertanggung jawab, serta mampu melindungi diri mereka dari ancaman cyber yang semakin kompleks. Dengan demikian, kegiatan PKM ini memiliki tujuan untuk menciptakan Siswa-siswi yang cerdas, dan bertanggung jawab dalam memanfaatkan teknologii nformasi di era digital
Challenging the Industry Effect: Evidence of Fundamental Risk Heterogeneity Across Sectoral and Industry Tiers Rexon Nainggolan; Ringkot P Nainggolan; Clarijun Q Montebon
Jurnal Akuntansi, Keuangan, dan Manajemen Vol 7 No 3 (2026): Juni
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jakman.v7i3.6465

Abstract

Purpose: The study challenges the industry effect concept by analysing total volatility and idiosyncratic risk in the firms listed in the Indonesia equity market to investigate whether firms in the same sector industry share similar risk profiles. Methodology: While previous work has largely focused on the time series of average idiosyncratic volatility, the study uses a novel cross-sectional approach to identify industry-wide mispricing in the normalisation of both total and idiosyncratic volatility, by using data from 601 publicly traded firms in the Indonesia Equity Market (IDX) and several robust statistical tests, including the Coefficient of Variance, the Shapiro-Wilk Test for Data Normality, the Kruskal-Wallis H test, and Levene's Test. Result: The findings show significant variation across industries, with coefficients of variation for total volatility and idiosyncratic risk at the market level higher than typically observed in homogeneous groups. Deviating from the traditional Structure-Conduct-Performance (SCP) view. Conclusions: This study found that the traditional Structure-Conduct-Performance (SCP) model is too simple to capture how firms really behave, especially when compared to the Resource-Based View (RBV) using modern risk analysis. Limitations: The study focuses on standard deviation and STEY X as measures of risk and does not cover other external factors, such as macroeconomic or geopolitical factors. Contributions: The results contribute to the existing capital market literature by providing empirical evidence that challenges the traditional concept of the industry effect, showing that sectoral and industry classifications fail as measures of firm risk profile.
Co-Authors Adrian, Adrian ARDIANSYAH ARDIANSYAH Clarijun Q Montebon Eduward Tony Sitorus Eduward Tony Sitorus Eduward Tony Sitorus Junaedi, Ifan Maralus Samosir Maralus Samosir Mutiara Armita Nainggolan, Rexon Oktavia Marpaung Rexon Nainggolan Risma Ayu Nabela Rumadi Hartawan Samuel Horas Sarjana Thomas Budiman Wibowo, Kuncoro Yogi Prasetyo Zulhalim, Zulhalim