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PENGARUH FAKTOR FUNDAMENTAL TERHADAP RISIKO SISTEMATIK (BETA) PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI TAHUN 2015-2017 Andini Novita Sari; Muniya Alteza
JURNAL ILMU MANAJEMEN Vol 16, No 2 (2019)
Publisher : Universitas Negeri Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (298.555 KB) | DOI: 10.21831/jim.v16i2.34762

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Penelitian ini bertujuan untuk menguji tentang Pengaruh (1) Earning Variability terhadap Beta Saham, (2) Debt to Equity Ratio terhadap Beta Saham, (3) Price to Book Value terhadap Beta Saham (4) Earning Per Share terhadap Beta Saham pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Periode penelitian yang digunakan adalah tahun 2015 sampai 2017. Sampel yang diperoleh berdasarkan pada teknik purposive sampling dan diperoleh 18 perusahaan. Jenis data yang dipergunakan adalah data sekunder dan metode analisis data yang dipergunakan adalah regresi linear berganda. Hasil penelitian ini menunjukkan bahwa earning variability berpengaruh positif dan signifikan terhadap Risiko Sistematis, debt to equity ratio tidak berpengaruh terhadap Risiko Sistematis, price to book value berpengaruh negatif dan signifikan terhadap Risiko Sistematis, dan earning per share tidak berpengaruh terhadap Risiko Sistematis.
Pengaruh Equity Market Timing Terhadap Struktur Modal Perusahaan Manufaktur di Bursa Efek Indonesia Muniya Alteza; Nuri Lesmono Hidayah
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 4 No 2 (2022): November 2022
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v4i2.2434

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This study aims to determine the effect of equity market timing on the capital structure of manufacturing companies that conducted initial public offerings on the Indonesia Stock Exchange. The population in this study is the manufacturing sector companies that conduct initial offerings on the Indonesia Stock Exchange in the 2010-2015 periods. Sampling was done using the purposive sampling method. Based on the criteria, 18 companies became the research sample. Capital structure in this study is proxied by leverage while equity market timing is proxied by the market-to-book ratio. The data analysis technique used is linear regression analysis with panel data estimation. Prior to the regression analysis, the model specification test and classical assumption test were carried out to ensure that the research model was feasible to use. The results of this study indicate that equity market timing has a negative and significant effect on the company's capital structure.
DETERMINAN TRUE DISCOUNT DAN MARKET REACTIONS PENAWARAN SAHAM Alteza, Muniya
Jurnal Economia Vol 9, No 1: April 2013
Publisher : Faculty of Economics Universitas Negeri Yogyakarta in collaboration with the Institute for

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (258.155 KB) | DOI: 10.21831/economia.v9i1.1374

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Abstrak: Determinan True Discount dan Market Reactions Penawaran Saham. Penelitian ini bertujuan menguji beberapa variabel sebagai determinan initial return penawaran saham perdana. Initial return dihitung dalam dua komponen, true discount dan market reaction. Determinan true discount dan market reactions dipilih berdasarkan hipotesis asimetri informasi dan hipotesis aftermarket liquidity. Total sampel yang dikumpulkan mencakup 40 penawaran saham perdana periode 2005-2008. Teknik analisis data menggunakan regresi linier berganda. Hasil penelitian menunjukkan ukuran perusahaan, umur dan persentase saham yang ditawarkan ke publik berpengaruh negatif dan signifikan terhadap true discount. Selain itu hasil regresi juga mengindikasikan bahwa likuditas yang diharapkan berpengaruh positif dan signifikan, sedangkan risiko likuiditas dan volatilitas pasar sekunder masing-masing berpengaruh negatif dan signifikan terhadap market reaction. Kata kunci: penawaran perdana, underpricing, true discount, market reaction Abstract: Determinants of True Discount and Market Reactions of Initial Public Offering. This research aims to test some variables as determinants of initial return of initial public offering. The initial return is estimated in two components, the true discount of the offer price as well as the market reactions on the listing. Determinants of true discount and market reactions are chosen based on asymmetric information hypotheses and aftermarket liquidity hypotheses. The total samples collected are 40 IPOs from the period 2005-2008. Data analysis method was conducted through multiple linear regression. The study shows that company size, stocks’ age and percentage of stocks offered to public have significant and positive impact on true discount. Besides that, the regression result indicates that expected liquidity gave significant and positive impact, while liquidity risk and aftermarket volatility have significant and negative impact on market reaction. Keywords: initial public offering, underpricing, true discount, market reaction
PERUBAHAN LIKUIDITAS AKIBAT PEMECAHAN SAHAM: STUDI DI PASAR MODAL INDONESIA Alteza, Muniya; Hidayati, Lina Nur; Darmawati, Arum
Jurnal Economia Vol 10, No 1: April 2014
Publisher : Faculty of Economics Universitas Negeri Yogyakarta in collaboration with the Institute for

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (317.047 KB) | DOI: 10.21831/economia.v10i1.4096

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Abstrak: Perubahan Likuiditas Akibat Pemecahan Saham: Studi di Pasar Modal Indonesia. Penelitian ini ingin mengetahui pengaruh pemecahan saham terhadap likuiditas dalam jangka pendek; pengaruh pemecahan saham, ukuran perusahaan dan return saham secara simultan terhadap likuiditas dalam jangka pendek; pengaruh pemecahan saham terhadap likuiditas dalam jangka panjang; serta pengaruh pemecahan saham, ukuran perusahaan dan return saham secara simultan terhadap likuiditas dalam jangka panjang. Sampel diambil menggunakan metode purposive sampling sebanyak 36 perusahaan yang memenuhi kriteria kelengkapan data. Penelitian ini menemukan bahwa pemecahan saham tidak berpengaruh terhadap likuiditas saham jangka pendek; pemecahan saham, ukuran perusahaan dan return secara simultan berpengaruh terhadap likuiditas jangka pendek; pemecahan saham berpengaruh negatif terhadap likuiditas saham jangka panjang; dan pemecahan saham, ukuran perusahaan dan return secara simultan berpengaruh terhadap likuiditas saham jangka panjang.   Kata kunci: pemecahan saham, ukuran perusahaan, return, likuiditas jangka panjang, likuiditas jangka pendek   Abstract: Liquidity Changes as the Effect of Stock Split: Study in Indonesian Stock Exchange. This study aims to determine how does the effect of stock split toward the short-term liquidity; how does the effect of stock split, the size of the company and the stock return simultaneously toward the short-term liquidity; how does the effect of stock split toward long-term liquidity; and how does the effect of stock splits, the size of the company and the stock return simultaneously toward long-term liquidity. Samples are obtained using purposive sampling method and acquired 36 companies that fulfill the criteria of completeness of the data. The results of this study indicate that stock split has no effect toward short-term liquidity; stock split, the size of the company and stock return simultaneously has significant effect toward the short-term liquidity; stock split has a negative significant effect toward the long-term liquidity; stock split, the size of the company and stock return simultaneously has significant effect toward the long-term liquidity   Keywords: stock split, firm size, return, long-term liquidity, short-term liquidity
SINYAL LABA DALAM PERISTIWA PEMECAHAN SAHAM DI BURSA EFEK INDONESIA Margasari, Naning; Alteza, Muniya; Musaroh, Musaroh
Jurnal Economia Vol 11, No 2: October 2015
Publisher : Faculty of Economics Universitas Negeri Yogyakarta in collaboration with the Institute for

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (530.541 KB) | DOI: 10.21831/economia.v11i2.7956

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Abstrak: Sinyal Laba dalam Peristiwa Pemecahan Saham di Bursa Efek Indonesia. Penelitian ini bertujuan untuk menguji pengaruh informasi privat dalam peristiwa pemecahan saham yang diproksikan dengan split factor signal terhadap kinerja keuangan perusahaan yang diukur melalui laba bersih sesudah pajak, pertumbuhan laba bersih sesudah pajak dan laba per lembar saham. Total sampel yang dikumpulkan sesuai kriteria purposive sampling mencakup 55 sampel pemecahan saham. Teknik analisis data menggunakan regresi linear berganda. Hasil penelitian menunjukkan bahwa split factor signal berpengaruh positif dan signifikan terhadap terhadap kinerja keuangan yang diukur menggunakan laba bersih sesudah pajak perusahaan. Penelitian ini juga menemukan bahwa split factor signal tidak berpengaruh terhadap kinerja keuangan yang diukur menggunakan pertumbuhan laba bersih sesudah pajak dan laba per lembar saham.Kata kunci: pemecahan saham, split factor signal, laba bersih sesudah pajak, pertumbuhan laba bersih sesudah pajak, laba per lembar sahamAbstract. Profitability Signal of Stock Split Events in Indonesia Stock Exchange. This research aimed to test the effects of private information in stock split as proxied by split factor signal toward financial performance of firms as measured by earning after tax, growth of earning after tax and earning per share. The total samples collected based on purposive sampling criteria were 55 stock splits. Data analysis was conducted through multiple linear regression. The result of this research showed that split factor signal had positive and significant effect on financial performance masured by earning after tax. Besides that the results indicated that split factor signal had no significant effect on the financial performance measured by growth of earning after tax and earning per share.Keywords: stock split, split factor signal, earning after tax, growth of earning after tax, earning per share
Branding UMKM dalam Pengembangan Wisata Budaya Patehan Yogyakarta Rahmawaty, Penny; Lina; Arum; Alteza, Muniya; Gallen GP, Mahendra Ryansa
J-Dinamika : Jurnal Pengabdian Masyarakat Vol 9 No 2 (2024): Agustus
Publisher : Politeknik Negeri Jember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25047/j-dinamika.v9i2.4649

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Yogyakarta as a tourist destination has a cultural heritage in the form of an imaginary Philosophical Axis consisting of the Golong-Gilig Monument, Kraton, and Krapyak Stage which are in a straight line. Patehan Village is one of the areas in the Keraton area. Patehan is the part of the palace which is responsible for preparing drinks, especially tea, along with all the equipment for Yogyakarta Palace activities, starting from traditional ceremonies to meeting daily routine needs. Patehan is supported by the existence of various businesses, namely culinary, transportation, trade, and the creative economy. However, no special place sells and serves palace-style brewed tea. A change in mindset is needed to become an entrepreneur with a far-sighted vision. Apart from that, they also do not realize the importance of product branding as a competitive advantage. The aim of Community Service is the importance of changing the entrepreneurial mindset and the importance of product branding. The form of activity is training and business assistance. The outcomes of community service activities are the importance of MSME actors changing their entrepreneurial mindset, having product brands, and promoting products through social media for them to increase the number of domestic and foreign tourist visits
Utilizing digital marketing to improve the performance of MSMEs in Kraton District, Yogyakarta Alteza, Muniya; Rahmawaty, Penny; Hidayati, Lina Nur; Darmawati, Arum
Community Empowerment Vol 10 No 3 (2025)
Publisher : Universitas Muhammadiyah Magelang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31603/ce.12495

Abstract

This community service activity aims to enhance the marketing reach and performance of MSMEs in Kraton District, Yogyakarta, through the utilization of digital marketing. The activities were conducted through training and mentoring. The methods used included lectures, discussions, and practical exercises. Lectures were delivered to introduce digital marketing concepts and tools. Practical exercises involved the application of digital marketing through the creation of online shop accounts on marketplaces and Google Business Profiles. The evaluation results showed an increase, with 32% of MSMEs now having online shop accounts; 58% of MSMEs having Google Business Profiles; a 15% increase in sales post-digital marketing implementation; and a 10% increase in visits to MSMEs that have Google Business Profiles.
Underpricing Emisi Saham Perdana: Suatu Tinjauan Kritis Muniya Alteza
Jurnal Manajemen Maranatha Vol 9 No 2 (2010)
Publisher : Universitas Kristen Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jmm.v9i2.90

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A firm needs enough capital to push up its growth. There are many sources of fund, such as retained earnings, debt and equity. The firm should choose one which can maximize the value of the firm, identical with minimize the weighted average cost of capital. To use equity as its funding, the first step must be taken by the firm is offering stock in the primary market, this called Initial Public Offering. A commin phenomena happened in the IPOs in underpricing. This paper first tried to review the definition and process of IPOs and also explore many theories to explain underpricing. Last, it will review some empirical evidence from many researches.Keywords: IPO, underpricing, asymmetric information, aftermarket liquidity, market climate, signaling, underwritter
ANALISIS EFISIENSI PERBANKAN HASIL MERGER DI INDONESIA DENGAN METODE TWO-STAGE DATA ENVELOPMENT ANALYSIS Wendha, Dicha Nur; Alteza, Muniya
JURNAL ILMU MANAJEMEN Vol. 17 No. 2 (2020): DESEMBER 2020
Publisher : Universitas Negeri Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (428.112 KB) | DOI: 10.21831/jim.v17i2.34778

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Penelitian ini bertujuan untuk mengetahui tingkat efisiensi bank hasil merger serta pengaruh Ukuran Perusahaan, Non-Performing Loan (NPL), Loan to Deposit Ratio (LDR), Return on Asset (ROA), dan Capital Adequacy Ratio (CAR) terhadap tingkat efisiensi bank hasil merger di Indonesia. Periode penelitian yang digunakan adalah dua tahun pra merger dan sepuluh tahun pasca merger. Teknik analisis data yang digunakan adalah Two-Stage Data Envelopment Analysis, yaitu menggunakan Data Envelopment Analysis pada tahap pertama dan Regresi Tobit pada tahap kedua. Berdasarkan hasil analisis penelitian tahap pertama menunjukkan bahwa perbankan pada periode pra merger tidak efisien, kemudian berdasarkan metode CCR bank hasil merger tetap tidak efisien, namun berdasarkan metode BCC bank hasil merger menjadi lebih efisien. Selanjutnya, hasil analisis penelitian tahap kedua menunjukkan bahwa Ukuran perusahaan, NPL, LDR, dan ROA berpengaruh positif dan signifikan terhadap tingkat efisiensi perbankan hasil merger, sedangkan CAR tidak berpengaruh terhadap tingkat efisiensi perbankan hasil merger.
KEUANGAN KEPERILAKUAN: TELAAH ATAS EVOLUSI TEORI DAN STUDI EMPIRIS Alteza, Muniya; Harsono, Mugi
JURNAL ILMU MANAJEMEN Vol. 18 No. 1 (2021): JUNI 2021
Publisher : Universitas Negeri Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (266.968 KB) | DOI: 10.21831/jim.v18i1.39342

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Artikel ini membahas konsep keuangan perilaku sebagai cabang ilmu keuangan yang mencakup aspek psikologi dan sosiologi untuk menjelaskan perilaku keuangan seorang investor. Bagian pertama meninjau konsep dasar dan evolusi pengembangan teori keuangan perilaku. Bagian selanjutnya akan membahas beberapa bias dalam keuangan perilaku. Diskusi berlanjut dengan meninjau pengembangan penelitian empiris dan beberapa pemikiran kritis terkait keuangan perilaku. Bagian akhir dari artikel ini memberikan kesimpulan mengenai tinjauan arah penelitian keuangan perilaku di masa depan.