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PENGARUH JANUARY EFFECT DAN ROGALSKI EFFECT TERHADAP ABNORMAL RETURN SAHAM DAN TRADING VOLUME ACTIVITY (Studi Pada Perusahaan LQ45 yang Terdaftar di Bursa Efek Indonesia) Maliasari, Karina; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 2 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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The research aims: to test the influence of January Effect and Rogalski Effect of the Abnormal Return and Trading Volume Activity in the Indonesia stock exchange.  The sample was selected by using purposive sampling technique. Methods of analysis used  the Product Moment Correlation Test, Kruskall-wallis Test, Paired Sample t-Test, and Wilcoxon Signed Rank Test.  The result showed that January Effect occurs in  the period 2012 influential against  to Abnormal return but  it  didn’t  happen,  further  more  influence on Trading Volume Activity. But Rogalski Effect didn’t exist  in  the  Indonesia  stock exchange. Keywords:January effect, Rogalski effect, abnormal  return, trading volume activity, LQ45 stock price index
PENGARUH RETURN ON ASSET, RETURN ON EQUITY, EARNING PER SHARE, DEBT TO EQUITY RATIO, DAN PRICE TO BOOK VALUE TERHADAP HARGA SAHAM (Studi pada Perusahaan yang Tergabung dalam Jakarta Islamic Index) Puspita, Ismi Karima Tri; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 2 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Investing on sharia stock is a good alternative for funding management because sharia stocks are far away from business which classified as illegitimate business according to Islam. Jakarta Islamic Index  (JII) used as a benchmark  in measuring performance of a stock investment which based on  sharia.  This research  aims to examine the value relevance of accounting information in explaining stock price.  This  research used  Return  on Asset,  Return  on Equity, Earning per Share, Debt to Equity Ratio, and Price to Book Value as proxies of accounting information. The  sample of this research was all the company which listed in JII for five times consecutively from 2007 until 2011. This research was explanatory research, which explain the existence of effect between the dependent and independent variables through a hypothesis testing.  The result  showed  that ROE, EPS, and PBV have significant influence on  stock price, while ROA and DER have no significant influence on the  stock price of companies  listed  in  JII. Although  it is a small sample size, some relevant changes and modifications can be included in future research to obtain better result.Keywords: Return on Asset, Return on Equity, Earning per Share, Debt to Equity Ratio, Price to Book Value, Stock Price, Jakarta Islamic Index
PENILAIANKINERJA KOPERASI PEGAWAI REPUBLIK INDONESIA (KPRI) ”SRI REJEKI” KECAMATAN DONOMULYO BERDASARKAN PERATURAN MENTERI NEGARA KOPERASI DAN USAHA KECIL DAN MENENGAH NO.14/PER/M.UMKM/XII/2009 Wiseptya, Agris; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 2 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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The existence of cooperative useful as a pillar of the national economy, according lofty goals listed in Pancasila and the 1945 Constitution is to realize prosperity for all Indonesian people.This study aims to analyze the health of financial and non-financial in Employees Cooperative Republic of Indonesia "Sri Rejeki" in Donomulyo District for five years (2009-2013). The study design was descriptive and the analysis methods based on the State Ministry of Cooperatives and SMEs Regulation No.14/Per/M.KUKM/XII/2009. The results showed that the predicate cooperative Sri Rejeki in Donomulyo District is quite healthy from 2009 to 2013 with score 69,2; 79,3; 71,8; 72,4; 72,4. Performance assessment indicated that the cooperative has increased performance. Some things to note in this cooperative is the SHU policies and utilization of idle cash. Currently, the cooperative has business activities, family atmosphere and excellent services provide to members. Key words : Performance, KPRI Sri Rejeki Donomulyo, State Ministry of Cooperative and SMEs, State Ministry of Cooperative and SMEs Regulation No.14/Per/M.UMKM/XII/2009.
STRATEGY TO ACHIEVE FINANCIAL GOALS (Descriptive Study on University of Brawijaya Student) Megaputra, Gigih; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 2 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Financial problems often occurs particularly to college student whose doesn’t live with their parents anymore  (board). This college student usually receive allowance each month from their parents.  Generally,  the acceptance period once a month potentially cause error in consumption patterns if there is no planning and financial discipline in spending. To be able to avoid  the financial problems everyone needs to learn personal financial planning. The main objective of this research paper is to reveal and understand the students’  strategies to achieve their personal financial goals. The research setting are the canteens at Brawijaya University. This study uses descriptive qualitative research. The data uses in this study is primary data, which obtained by observation at the study site and depth interviews to the students of Brawijaya University. The result show that the strategy to achieve student financial goal is determined by application of appropiate plan of actions with the personal financial situation and goals, this plan of actions are to maintain or expand the current sitation or perform a new innovation to create something new. The implication of this research is personal financial planning is expected to be reference for students to achieve their financial goals. Preparation and application of personal financial planning is intended to facilitate the avhievement of students’ personal  financial goals. The purpose of financial planning is not just a set routine of income and expenses, but also can be used to achieve financial goals that are specific. Keywords:  Personal Financial Planning,  Personal Financial Goals,  Personal Financial Situation.
FAKTOR-FAKTOR YANG MEMPENGARUHI KEPUTUSAN CASH HOLDING PADA PERUSAHAAN FOOD AND BEVERAGES YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) Rahmawati, Zahrotul Auliya; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 2 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Cash holding is one of the most significant decisions taken by the financial managers of any food and beverages firms. The decision not only depends on the theoretical view but also the firm-specific variables. The  research  aims to test empirically the effect of Current Asset, Cash Flow, Volatility of Cash Flow, Short Term Debt, Total Debt, Leverage, Market to Book Value Ratio, Tobin’s Q, Size of Firm and Net Working Capital with Cash Holding. Population of the research are food and beverages companies. Data analysis technique uses multiple regression analysis. The results show that Short Term Debt have a  significant influence on Cash Holding and Current Asset, Cash Flow, Volatility of Cash Flow, Total Debt, Leverage, Market to Book Value Ratio, Tobin’s Q, Size of Firm and Net Working Capital have no influence on Cash Holding. Keywords : Cash Holding, Current Asset, Cash Flow, Volatility of Cash Flow, Short Term Debt, Total Debt, Leverage, Market to Book Value Ratio, Tobin’s Q, Size of Firm, Net Working Capital
DETERMINANTS OF BANK BUSINESS RISK ACCORDING TO RISK-BASED BANK RATING COMPONENTS APPROACH (A CASE IN COMMERCIAL BANKS THAT LISTED ON INDONESIA STOCK EXCHANGE) Haryakusuma, Kurnia; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Banks    have  important  role  on  economy  of  Indonesia,  with  a  fully-regulated  principle,  Banking  Sectors  in  Indonesia  concern  to  keep  in  a  good performance  according  to  Indonesia  Bank  Rules  No.  13/1/PBI/2011  which emphasize on risk-based approach. Therefore, it is interesting to know the factors that  affect  commercial  banks’  business  risk  that  listed  on  Indonesia  Stock Exchange.  Those  factors  consist  of  risk  profile  (credit  risk,  liquidity  risk,  and interest  rate  risk), good corporate governance, earnings, and capital. The  sample used  in  this  researsh  are  26  commercial  banks  that  listed  on  Indonesia  Stock Exchange  during  research  period  since  2011-2013.  This  research  uses multiple linear  regression  analysis.  The  result  of  the  findings  are  credit  risk  has    effect against business  risk. While,  liquidity  risk does not have  effect  against business risk. Interest rate risk has effect against business risk. Good corporate governance does not have effect  against business risk. Earnings has  significant effect against business risk. Capital does not have effect against business risk. Hence, the  entire implication of the research  is commercial banks’ business risk is affected by three factors from risk-based bank rating (credit risk, interest rate risk, and earnings). Keywords: Risk-Based Bank Rating, Credit Risk,  Liquidity Risk,  Interest Rate Risk, Good Corporate Governance, Earnings, dan Capital, Bank’s business risk
ANALISIS MARKET OVERREACTION DI BURSA EFEK INDONESIA PADA MASA 100 HARI KERJA JOKOWI-JK Hiendarto, Ongky; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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This study examined the existence of the phenomenon of market overreaction in the Indonesia Stock Exchange during the 100 days of work Jokowi-JK. Furthermore, this study aims to determine whether the amount of change in the percentage of sectoral indices will be followed by a price reversal in the next period. Tests on the market overreaction done using one sample t-test two-way against abnormal return sectoral indices. Model abnormal return calculations used in this study is the market-adjusted model. Meanwhile, testing of the occurrence of price reversal is done by using multiple linear regression analysis. Multiple linear regression was done by regressing the dependent variable cumulative abnormal return to the independent variable abnormal return and market capitalization. The results show that of the 9 sectors in the Indonesian Stock Exchange, there are  only  two  sectors  that  have  abnormal  return  statistically  significant,  namely: property sector and infrastruc sector. Property sector has a positive abnormal returns, meaning that experienced a bullish trend during the study period. Meanwhile, infrastruc sector has a negative abnormal returns, meaning that experienced a bearish trend during the study period. Market overreaction that occurs in the property sector was not followed by a price reversal in the next period. Although not significant price reversal, but the variable coefficients abnormal return property sector has a negative value. These results give a signal that the bullish trend in the property sector has the potential to continue in the next  period, but will experience a  slight slowdown. Meanwhile, market overreaction that occurs in infrastruc sector followed by a price reversal in the next period. Price reversal happened a signal that the bearish trend in the sector infrastruc will potentially turn into a bullish trend in the next period.   Keywords: market overreaction, price reversal, abnormal return.
PENILAIAN KINERJA KEUANGAN DENGAN MENGGUNAKAN METODE ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA) PADA PT KIMIA FARMA (PERSERO) Tbk. Anyta, Nungky Dean; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Penelitian ini bertujuan untuk mengetahui kinerja keuangan PT Kimia Farma (Persero) Tbk. yang diukur dengan menggunakan analisis  Economic Value Added (EVA) dan  Market Value Added  (MVA).  EVA adalah nilai  tambah  ekonomi yang dibuat oleh perusahaan sebagai dampak dari kegiatan dan strategi perusahaan, MVA adalah  nilai  tambah  pasar dari perusahaan yang dapat diberikan untuk investor. EVA dihitung dari hasil pengurangan antara Net Operating Profit After Tax  (NOPAT)  dan Biaya Modal. Penelitian ini menggunakan metode deskriptif kuantitatif.  Periode penelitian ini adalah 2009-2013 tahun. Hasil penelitian  menunjukkan pada tahun 2009 sampai 2013 EVA bernilai positif atau EVA > 0. Ini berarti perusahaan mampu memberikan nilai tambah ekonomis kepada investor. EVA adalah penghitungan hasil dari NOPAT dikurangi biaya modal. Untuk mendapatkan EVA yang positif maka nilai NOPAT harus lebih tinggi dibandingkan dengan besarnya biaya modal. MVA menunjukkan nilai positif atau MVA > 0, yang artinya perusahaan mampu menciptakan nilai tambah pasar untuk investor. Keyword: Economic Value Added  (EVA),  Market Value Added  (MVA), Kinerja Keuangan
PENGARUH RASIO KEUANGAN TERHADAP KONDISI FINANCIAL DISTRESS (STUDI PADA PERUSAHAAN TEKSTIL DAN GARMEN YANG TERDAFTAR DI BEI) Istiantoro, Jalu Nasa; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Penelitian ini bertujuan untuk menguji pengaruh rasio keuangan terhadap kondisi financial distress perusahaan. Variabel independen yang diteliti dalam penelitian ini adalah rasio Current Asset to  Current  Liabilities  (CACL), rasio  Net  Income to  Total  Asset  (NITA), rasio  Total Liabilities to  Total  Asset  (TLTA), rasio  Inventory  Turnover  (ITO), dan  rasio  sales growth. Sedang variabel dependen dalam penelitian ini adalah  financial distress. Populasi dalam penelitian ini adalah Perusahaan Tekstil dan Garmen yang terdaftar di BEI yang berjumlah 19 perusahaan. Besar sampel yang digunakan dalam peneltian ini adalah 8 perusahaan. Analisis data menggunakan regresi logistik. Hasil penelitian menunjukkan bahwa varibel rasio CACL, rasio TLTA, rasio ITO berpengaruh signifikan terhadap kondisi  financial distress  perusahaan. Sementara variabel rasio CACL dan rasio  sales growth  tidak berpengaruh signifikan terhadap kondisi financial distress perusahaan.Kata kunci:  financial distress, rasio CACL, rasio NITA, rasio TLTA, rasio ITO, rasio  sales growth
Pengaruh Kinerja Keuangan Perusahaan Terhadap Harga Saham (Studi Pada Perusahaan Food and Beverage Yang Terdaftar Di BEI) Prihatanti, Andini Kurnia Fajar; Indrawati, Nur Khusniyah
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Penelitian ini bertujuan untuk mengetahui pengaruh kinerja keuangan terhadap harga saham  pada perusahaan  food and beverage  pada tahun 2009-2013.  Dengan menggunakan variabel Return On Equity (ROE), Return On Invesment (ROI), Earning Per Share (EPS), dan Price Earning Ratio (PER) sebagai variabel bebas dan harga saham sebagai variabel terikat. Populasi penelitian ini adalah perusahaan food and beverage yang terdaftar di BEI sebanyak 15 perusahaan. Pemilihan sampel dilakukan dengan metode  purposive sampling, dari 15 perusahaan diperoleh 8 perusahaan yang digunakan sebagai sampel. Analisis penelitian ini menggunakan Regresi Linier Berganda. Hasil penelitian ini menunjukkan bahwa Return On Equity  (ROE) dan Return On Invesment  (ROI) tidak berpengaruh  signifikan terhadap harga saham.  Sedangkan Earning Per Share  (EPS) dan  Price Earning Ratio  (PER) berpengaruh signifikan terhadap harga saham selama periode 2009-2013.Keywords: Harga Saham, Perusahaan Food and Beverage, ROE, ROI, EPS, PER
Co-Authors . Djumahir . Djumahir A Muhamad Jazuli, A Muhamad Achmad Sudiro Adelia Shabrina Prameka Ady Warsito Rachman Agris Wiseptya Ahmad Fathoni Ardyansyah Aji, Kartika Aldea Mita Cheryta Alfathya, Atmaya Fitra Ali Djamhuri Andini Kurnia Fajar Prihatanti Annisa Puspitasari Annisa Shabrina Anyta, Nungky Dean Apriyanti, Rini Atim Djazuli Atmaya Fitra Alfathya Cahyaningrum, Desy Dwi Cintyarani, Safira Dahana, Raiza Nora Dedi Suselo Defri Ramadan Wardiansyah Dewantara, Muhammad Giffari Djumahir Djumahir Djumilah Hadiwidjojo Djumilah Hadiwidjojo Efionita, Yolanda Ermawati, Putri Wahyu Erwina Safitri Garnis Irawanti Gigih Megaputra Hadityo, Farras Shaesardy Hanifa Bennu Nur Haryakusuma, Kurnia Hiendarto, Ongky Ira Lailatul Maghfiroh Ismi Karima Tri Puspita Istiantoro, Jalu Nasa Jazuli , A Muhamad Kadek Yudha Agastya Tantra Kamil, Ihsan Karina Maliasari Kartika Aji Kurnia Haryakusuma Kusuma Ratnawati Laili, Choirun Nisful Lalu Aditya Putra Lambertus P Wairisal Lely Ana Ferawati Ekaningsih Liana, Esti Lily Hendrasti Novadjaja Mahadewi, Lufina Mintarti Rahayu Mintarti Rahayu Moeljadi Moeljadi Moeljadi Moeljadi Moeljadi Moeljadi, Moeljadi Mugiono Mugiono, Mugiono Muhammad Djakfar Mychelia Champaca Nanang Suryadi Ni Iffah Kesuma Noermijati Novita Rahayu Pratiwi Nugroho, Mochammad Arie Nungky Dean Anyta Ongky Hiendarto Prasintahayu, Elysa Pratama, Febby Candra Prihatanti, Andini Kurnia Fajar Puspitasari, Annisa Putra, Fathur Muffidal Akram Musev Putra, Lalu Aditya Raditha Dwi Vata Hapsari Rahmat Fajar Basarda Ratya Shafira Arifiani Risna Wijayanti Ryo Prayoga Purnama Putra Ryo Prayoga Purnama Putra, Ryo Prayoga Purnama Safitri, Niluh Santi Setiawan, Moh. Agung Sinaga, Patrick Immanuel Suciati, Ranila Sudjatno Sumiati Surachman Surachman Suselo, Dedi Syam, Nur Tantra, Kadek Yudha Agastya Tetty Widiyastuti Ubud Salim Ubud Salim Wahyudi, Deby Yuliana Wardiansyah, Defri Ramadan Zahrotul Auliya Rahmawati