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PENGARUH FAKTOR EKSTERNAL, KEPUTUSAN INTERNAL KEUANGAN, DAN FREE CASH FLOW TERHADAP RETURN SAHAM PERUSAHAAN YANG TERDAFTAR PADA INDEKS KOMPAS 100 DI BURSA EFEK INDONESIA PERIODE TAHUN 2009-2013 Ria Fransisca Ifa Evendy; Deannes Isynuwardhana
Bina Ekonomi Vol. 19 No. 2 (2015)
Publisher : Center for Economic Studies Universitas Katolik Parahyangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (803.431 KB) | DOI: 10.26593/be.v19i2.1487.171-187

Abstract

One of the main goals of a company is to increase its value. High company’s value will be followed by high welfare of the stockholders. The goal is not only determined by company’s internal factors but also its external factors. The purpose of this research is to analyze the effect of external factors, internal financing decisions, and FCF on the company’s stock return. The sample of this research is 46 companies chosen from the companies that are listed in the Kompas 100 Index for the period of 2009-2013. Data of this research will be analized using descriptive statistics, the coefficient of determination, and regression, using Eviews software. There are two regression that The result of this study indicates that external factors and FCF has no effect on the Price Earning Ratio (PER), while internal financing decisions has impact on PER. If the companies’ value is represented by Capital gain, the external factors, and internal financing decisions has impact on the Capital Gain. FCF has no effect on the Capital Gain. Keywords: External factors, internal, FCF, return.
PENGARUH PROFITABILITAS, LEVERAGE DAN UKURAN PER USAHAAN TERHADAP PER ATAAN LABA (Studi Kasus Pada Perusahaan Se ktor Manufaktur Yang Terdaftar di Bursa Efek Indonesia Pada Tahun 2013 – 2015) Hendro Susilo; Deannes Isynuwardhana; Vaya Juliana Dillak
Kajian Akuntansi Volume 18, No. 1, 2017
Publisher : Universitas Islam Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29313/ka.v17i2.2515

Abstract

Perataan  laba   merupakan   upaya  manaje men  dala m  s uatu  perus ahaan  untuk  menjaga s tabilitas  laba  yang  dihas ilkan  perus ahaan.  Hal  ini  dila kukan  untuk  menarik  perhatian  dari inves tor,   dimana   diyakin i   bahwa   fokus   utama   inves tor   dalam   menentukan    keputus an inves tas inya   kerap   kali   didas arkan   pada   profit   yang   dihas ilkan   oleh   perus ahaan.   Laba perus ahaan yang s tabil menggambarkan  bahwa perus ahaan me miliki kelangs ungan  us aha yang baik.  Pe rataan  laba  dilakukan  dengan  cara  menunda  atau  me mpercepat  informas i  keuangan perus ahaan.Penelit ian  ini d ila kukan  untuk  mengetahui  pengaruh  s ecara  s imultan  dan  s ecara  pars ial variabel  profitabilitas , leverage  dan ukuran  perusahaan  terhadap  variabel  perataan  laba  pada perus ahaan sektor manufaktur yang terdaftar di Burs a Efek Indones ia pada tahun 2013 – 2015. Metode  dalam  penelitian  in i  merupakan   metode  penelitian  kuantitatif.  Tekn ik  pengamb ilans ampel yang digunakan pada penelitian ini ada lah teknik purposive sampling yang me mperoleh59 s a mpel penelitian  dala m kurun  wa ktu  3 tahun  s ehingga  didapat  177 units a mpel. Metode analis is   yang   digunakan   dalam   penelitian   in i   adalah   analis is   regres i   logis tik   dengan menggunakan software SPSS 23.0.Berdas arkan has il penelit ian, variable profitabilitas , leverage dan ukuran perus ahaan dapat men jelas kan atau me mpengaruhi variabel perataan  laba s ebes ar 10% , s edangkan s is anya 90% dipengaruhi  oleh  variabel  lain  diluar  penelit ian.  Has il  penelitian  in i  menunjukkan   bahwa profitabilitas ,  leverage   dan   ukuran   perus ahaan   me miliki  pengaruh   s ecara  s imu ltan   yang s ignifikan  terhadap  perataan  laba.  Secara  pars ial,  leverage  tidak  me miliki  pengaruh  yang s ignifikan  terhadap  perataan  laba, s edangkan  profitabilitas  berpengaruh  s ignifikan  terhadap perataan  laba  dengan  arah  pos itif  dan  ukuran  perus ahaan  berpengaruh  s ignifikan  terhadap perataan laba dengan arah negatif.
The Influence of Profitability, Firm Size and Leverage on Income Smooting (Studies on Property and Real Estate Company on The Indonesia Stock Exchange 2012-2017) Yuniar Aemanah S; Deannes Isynuwardhana
Kajian Akuntansi Volume 20, No.1, 2019
Publisher : Universitas Islam Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29313/ka.v21i2.3793

Abstract

Income smoothing is one of the strategies or business conducted by the company's management with the aim to reduce the fluctuations in earnings This is done with the motivation to show good performance to investors. This effort is made by playing with the income and the cost of the current period to be higher or lower than the actual income and expenses. Income smoothing is one form of earnings management.                This study aims to determine the effect of independent variables in the form of profitability, firm size, and leverage to the practice of income smoothing in property and real estate companies listed on the Indonesia Stock Exchange 2012 to 2017. The method used in sampling this study using purposive sampling which produces 23 samples within the period of 6 (six years) of 138 sample units. The analytical method used is logistic regression analysis processed using SPSS 23.                Based on the result of research, it is found that simultaneously profitability, firm size, and leverage variables influence the practice of income smoothing. Partially variable of firm size, and leverage do not have an effect on income smoothing, while profitability variable have positive and significant effect to income smoothing.
Pengaruh Leverage, Likuditas, Perputaran Modal Kerja dan Inflasi Terhadap Profitabilitas pada Perusahaan Kelapa Sawit yang Terdaftar di Bursa Efek Indonesia Periode 2015-2018 Christine Refina Malinda Pande; Deannes Isynuwardhana
Jurnal Ilmiah Akuntansi Universitas Pamulang Vol 9, No 1 (2021): Jurnal Ilmiah Akuntansi Universitas Pamulang
Publisher : Universitas Pamulang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32493/jiaup.v9i1.5087

Abstract

ABSTRACTOil palm companies are one of the sectors that have an impact on the economy. Indonesia has a climate that is very suitable for planting oil palm. The company's goal is to make a profit. Then the company will improve its financial performance in order to achieve its goals. Basically, the goal of the company is to be able to increase the company's profitability. The company's profitability will reflect a company's financial condition, and illustrate the effectiveness and efficiency of the company in managing its operations. The purpose of this study is to determine the significant effect of leverage, liquidity, working capital turnover, and inflation that affect the profitability of oil palm companies listed on the Indonesia Stock Exchange in the 2015-2018 period with a large sample of 11 companies. The results of the study with panel data analysis using the E-views 9 application. The data collection method used a secondary data source in the form of an annual financial report document. Based on the research results, it is found that simultaneously leverage, liquidity, working capital turnover, inflation have an effect on profitability. Partially leverage, liquidity has a positive effect on profitability, and working capital turnover, inflation has no effect on profitability.
IMBAL HASIL KONTRAK OPSI MENGGUNAKAN COVERED CALL WRITING STRATEGY DAN PROTECTIVE PUT BUYING STRATEGY Atika Budiarti; Deannes Isynuwardhana; Hendratno Hendratno
JRAK Vol 10 No 1 (2018): Edisi April
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (711.289 KB) | DOI: 10.23969/jrak.v10i1.1057

Abstract

This study aimed to analyze the return on contract option using covered call writing strategy and protective put buying strategy with black scholes. The population in this study are all companies listed in Indonesia Stock Exchange whose shares belong to the blue chip stocks. The sample in this research was determined by purposive sampling method to obtain 5 companies in the sample. Based on the results of the study, covered call writing strategy suffered losses, while the protective put buying strategy experiencing gains. The return of protective put buying strategy is better than the covered call writing strategy. For investors who want to invest in the derivatives market, particular contracts option investors should look at the movement of stock prices. If the movement of stocks tend to be stable, they should use the covered call writing strategy. If the stock tends to decrease, then they should use a protective put buying strategy.
INTANGIBLE ASSET, PROFITABILITAS, DAN SUSTAINABILITY REPORT TERHADAP NILAI PERUSAHAAN Annisa Marwa; Deannes Isynuwardhana; Annisa Nurbaiti
JRAK Vol 9 No 2 (2017): Oktober 2017
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (335.457 KB) | DOI: 10.23969/jrak.v9i2.582

Abstract

Sri-Kehati Index has been increased since 2009, though return on equity has decreased. Stock price will be affected by the ROE so that the value of the firm also decreases. In this study, the independent variables are intangible assets, profitability, and sustainability report. The dependent variable is the value of the firm. This study aims to determine the effect of intangible assets, profitability, and sustainability report on the value of the firm in a company registered in Sri-Kehati Index Indonesia Stock Exchange. The population are all companies registered in SriKehati Index in the period of 2009- 2014, while the sample is determined by purposive sampling method so as to obtain 5 companies. The analytical method used is the panel data regression analysis. The results show intangible assets, profitability, and sustainability report simultaneously significant effect on value of the firm. While partially intangible asset has significant negative effect and profitability has significant positive effect on value of the firm.
The Awareness and Implementation of MBKM Program as Flexible Learning in Faculty Ratri Wahyuningtyas; Deannes Isynuwardhana; Risris Rismayani; Indra Gunawan
Humaniora Vol. 13 No. 3 (2022): Humaniora
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/humaniora.v13i3.8382

Abstract

The research discussed Merdeka Belajar-Kampus Merdeka (MBKM), an independent learning policy for universities in Indonesia issued by the Minister of Education and Culture in 2020. One highlighted policy was the right to study for students to study outside the study program for three semesters. The research intended to determine awareness and implementation of the MBKM program from students, lecturers, and education staff. The research applied a quantitative-descriptive method with a survey model. The research data and information were collected by distributing and filling out questionnaires at the Online Learning System (SPADA) of the Ministry of Education, Culture, Research, and Technology of Indonesia. The data obtained were then processed through several analytical techniques, namely descriptive statistics using rank order and text processing and analysis. The population in the research consisted of students, lecturers, and educational staff at the Faculty of Economics and Business, Telkom University. The research indicates that the level of knowledge of lecturers, students, and educational staff regarding the MBKM program is relatively high, obtained from various sources of information, including through online/offline channels from the Directorate General of Higher Education. Follow-up that needs to be done as part of continuous improvement is the need for easy access to working groups at the Ministry of Education and Culture and the importance of socializing in terms of rules and technical aspects of MBKM implementation so that activities can run more optimally.
Pengaruh Tingkat Inflasi, Proceeds, Profitabilitas, dan Solvabilitas terhadap Underpricing Saham (Studi Kasus pada Perusahaan Go Public di Bursa Efek Indonesia (BEI) Periode 2019-2020) Yolanda Rudila Putri; Deannes Isynuwardhana
SEIKO : Journal of Management & Business Vol 5, No 2 (2022): July - December
Publisher : Program Pascasarjana STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/sejaman.v5i2.2174

Abstract

Abstrak Perusahaan dapat memenuhi segala bentuk kebutuhan serta mengembangkan bisnis dengan cara melakukan kegiatan jual beli sekuritas yang dimiliki kepada masyarakat umum di pasar modal. Perusahaan pertama kali menerbitkan efek di pasar primer sebelum menerbitkannya di pasar sekunder. Adanya perbedaan yang terjadi antata harga saham yang ada pasar primer dan pasar sekunder dapat memunculkan fenomena saham salah satunya adalah undepricing saham yang mana terjadi karena harga yang lebih rendah di pasar primer dibandingkan dengan pasar sekunder. Tingkat underpricing yang terjadi di Indonesia tergolong cukup tinggi dalam setiap tahunnya, terdapat sebanyak 51 perusahaan go public di tahun 2019 dan 50 perusahaan go public di tahun 2020 yang mengalami fenomena ini. Studi ini memiliki pendekatan kuantitatif dengan tujuan untuk mengetahui adanya pengaruh antara inflasi, proceeds, profitabilitas, dan solvabilitas terhadap underpricing saham pada perusahaan go public di Bursa Efek Indonesia (BEI) tahun 2019-2020. Memiliki populasi sebanyak 101 perusahaan yang go public di Bursa Efek Indonesia (BEI) tahun 2019-2020 dengan sampel sebanyak 97 perusahaan yang diuji menggunakan metode purposive sampling. Data penelitian ini dianalisis menggunakan metode analisis deskriptif dan analisis regresi linear berganda. Hasil dalam penelitian ini menyimpulkan bahwa tingkat inflasi, proceeds, profitabilitas, dan solvabilitas secara simultan memengaruhi underpricing saham. Sedangkan hasil pengujian parsial menunjukkan bahwa tingkat inflasi dan profitabilitas memiliki pengaruh positif, proceeds berpengaruh negatif, dan solvabilitas tidak memiliki pengaruh terhadap underpricing saham. Kata Kunci: Go Public, underpricing, saham, inflasi, proceeds, profitabilitas, dan solvabilitas Abstract The company can fulfill all forms of needs and develop business by conducting buying and selling securities owned by the general public in the capital market. Companies first issue securities on the primary market before issuing them on the secondary market. The difference that occurs between stock prices in the primary market and the secondary market can lead to a stock phenomenon, one of which is stock underpricing, which occurs due to lower prices in the primary market compared to the secondary market. The level of underpricing that occurs in Indonesia is quite high every year, there are as many as 51 companies going public in 2019 and 50 companies going public in 2020 that experience this phenomenon. This study has a quantitative approach with the aim of knowing the effect of inflation, proceeds, profitability, and solvency on stock underpricing in publicly listed companies on the Indonesia Stock Exchange (IDX) in 2019-2020. It has a population of 101 companies that went public on the Indonesia Stock Exchange (IDX) in 2019-2020 with a sample of 97 companies tested using the purposive sampling method. The research data were analyzed using descriptive analysis methods and multiple linear regression analysis. The results of this study conclude that the level of inflation, proceeds, profitability, and solvency simultaneously affect stock underpricing. While the partial test results show that the inflation rate and profitability have a positive effect, proceeds have a negative effect, and solvency has no effect on stock underpricing. Keywords: Go public, underpricing, stocks, inflation, proceeds, profitability and solvency
Pengaruh Earning Per Share, Price to Book Value, Volume Perdagangan Saham, dan Nilai Kapitalisasi Pasar terhadap Return Saham Lathifah Ayu Rahmanissa; Deannes Isynuwardhana
SEIKO : Journal of Management & Business Vol 4, No 3 (2022)
Publisher : Program Pascasarjana STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/sejaman.v4i3.2493

Abstract

Abstrak Penelitian ini bertujuan untuk mengetahui pengaruh earning per share, price to book value, volume perdagangan saham, dan nilai kapitalisasi terhadap return saham pada perusahaan sektor kesehatan yang terdaftar di Bursa Efek Indonesia tahun 2017-2020. Populasi pada penelitian ini adalah perusahaan sektor kesehatan yang terdaftar di Bursa Efek Indonesia. Teknik pengambilan sampel yang digunakan yaitu non-probability sampling. Jumlah sampel yang diperoleh 13 perusahaan dalam kurun waktu 4 tahun sebanyak 52 data, tetapi terdapat data oulier sehingga menjadi 44 data. Metode analisis data menggunakan analisis regresi data panel menggunakan software Eviews 12.Hasil penelitian menunjukkan variabel independen earning per share, price to book value, volume perdagangan saham, dan nilai kapitalisasi pasar berpengaruh secara simultan terhadap return saham. Volume perdagangan saham berpengaruh positif secara parsial terhadap return saham. Earning per share, price to book value, dan nilai kapitalisasi pasar tidak berpengaruh secara parsial terhadap return saham. Kata Kunci: Earning Per Share, Nilai Kapitalisasi Pasar, Price to Book Value, Return Saham, Volume Perdagangan Saham Abstract .This study aims to determine the effect of earnings per share, price to book value, stock trading volume, and market capitalization value on stock returns in health sector companies listed on the Indonesia Stock Exchange in 2017-2020.The population in this study are health sector companies listed on the Indonesia Stock Exchange. The sampling technique used is non-probability sampling. The number of samples obtained by 13 companies in a period of 4 years is 52 data, but there are oulier data so that it becomes 44 data. The data analysis method uses panel data regression analysis using Eviews 12 software.The results showed that the independent variables of earnings per share, price to book value, stock trading volume, and market capitalization value had a simultaneous effect on stock returns. Stock trading volume partially positive effect on stock returns. Earnings per share, price to book value, and market capitalization have no partial effect on stock returns. Keywords: Earnings Per Share, Market Capitalization Value, Price to Book Value, Stock Trading Volume, Stock Return.
Pengaruh Tingkat Inflasi, Proceeds, Profitabilitas, dan Solvabilitas terhadap Underpricing Saham (Studi Kasus pada Perusahaan Go Public di Bursa Efek Indonesia (BEI) Periode 2019-2020) Yolanda Rudila Putri; Deannes Isynuwardhana
SEIKO : Journal of Management & Business Vol 4, No 2 (2021): July - December
Publisher : Program Pascasarjana STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/sejaman.v4i2.2189

Abstract

Abstrak Studi ini memiliki pendekatan kuantitatif dengan tujuan untuk mengetahui adanya pengaruh antara inflasi, proceeds, profitabilitas, dan solvabilitas terhadap underpricing saham pada perusahaan go public di Bursa Efek Indonesia (BEI) tahun 2019-2020. Memiliki populasi sebanyak 101 perusahaan yang go public di Bursa Efek Indonesia (BEI) tahun 2019-2020 dengan sampel sebanyak 97 perusahaan yang diuji menggunakan metode purposive sampling. Data penelitian ini dianalisis menggunakan metode analisis deskriptif dan analisis regresi linear berganda. Hasil dalam penelitian ini menyimpulkan bahwa tingkat inflasi, proceeds, profitabilitas, dan solvabilitas secara simultan memengaruhi underpricing saham. Sedangkan hasil pengujian parsial menunjukkan bahwa tingkat inflasi dan profitabilitas memiliki pengaruh positif, proceeds berpengaruh negatif, dan solvabilitas tidak memiliki pengaruh terhadap underpricing saham. Kata Kunci: Go Public, underpricing, saham, inflasi, proceeds, profitabilitas, dan solvabilitas Abstract This study has a quantitative approach with the aim of knowing the effect of inflation, proceeds, profitability, and solvency on stock underpricing in publicly listed companies on the Indonesia Stock Exchange (IDX) in 2019-2020. It has a population of 101 companies that went public on the Indonesia Stock Exchange (IDX) in 2019-2020 with a sample of 97 companies tested using the purposive sampling method. The research data were analyzed using descriptive analysis methods and multiple linear regression analysis. The results of this study conclude that the level of inflation, proceeds, profitability, and solvency simultaneously affect stock underpricing. While the partial test results show that the inflation rate and profitability have a positive effect, proceeds have a negative effect, and solvency has no effect on stock underpricing. Keywords: Go public, underpricing, stocks, inflation, proceeds, profitability and solvency
Co-Authors Adly, Muhammad Naufal Afifah, Dhiya Rifdah Aji, Satria Akhmad Nurul Huda Ali Riza Fahlevi Alifiani, Zulfa Annisa Marwa Annisa Nurbaiti Arfitsa, Fajra Arianingrum, Risa Widyawati ARIYANTI, SISKA Assilmi, Muhammad Adam Atika Budiarti Aulia Ferina Sendhitasari Aulia Ferina Sendhitasari Auliani, Adinda Christine Refina Malinda Pande Deliana, Cindy Benedicta Desti Wahyuni Dewi, Nisa Ayu Castrena Dillak, Vaya Juliana Dini Wahjoe Hapsari Djusnimar Zultilisna Dudi Pratomo Dwi Fitrizal Salim Elsya Manora Manurung Fadhilah, Azelya Nur Fajari, Mentar Agustina Farida Titik Kristanti Febryan, Frizky Vega Fernanda, Dio Frizky Vega Febryan Gemilang, Fajar Panji Ginting, Andreas Suranta Hendro Susilo Hidayat, Ravi Ramadhan Indra Gunawan Ishaq, Ananda Aisha Jasmine Khairunnisa Khairunnisa Khairunnisa, Wiwin Aminah, Krishna Kusumahadi Lathifah Ayu Rahmanissa Machfudi, Muhamad Magdalena Gina Rahmawati Mayasha, Efiearly Mudinillah, Adam MUHAMAD MUSLIH Mulyana, Rafi Raihansyah Nazar, Muhammad Rafki Novrianti, Mesy Nurvita Trianasari Parmita, Ida Bujangga Ayu Diah Permatasari, Lamvita Sekar Putra, Audy Muhammad Nurtri Sunggowo Putri Shela Nazib Rachmat Firdaus Rachmawati, Nurul Aulia Rahmah Arafati Masyiyan Rahmawati, Magdalena Gina Ramadhan, Muhammad Riza Ratri Wahyuningtyas Ria Fransisca Ifa Evendy Risris Rismayani, Risris Ruri Octari Dinata Said, Hilda Salman Salimah, Aulia Nur Fitri Saraswati, Sri Sari, Putri Wulan Sembiring, Ira Hanna Br Sharfina Sharfina, Sharfina Sinta Novianti, Sinta Sri Rahayu Utama, Muhamad Rizki Yolanda Rudila Putri Yuniar Aemanah S Zulfikar, Irvan Rinaldi