Articles
STRUKTUR KEPEMILIKAN DAN STRUKTUR MODAL TERHADAP KEBIJAKAN DIVIDEN DAN NILAI PERUSAHAAN
Artini, Luh Gede Sri;
Puspaningsih, Ni Luh Anik
Jurnal Keuangan dan Perbankan Vol 15, No 1 (2011): January 2011
Publisher : UNIVERSITY OF MERDEKA MALANG
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DOI: 10.26905/jkdp.v15i1.1001
The companys long-term goal was to maximize corporate value. Maximization of corporate value could berealized by using the aspect of corporate financial decisions and the amount of stock ownership by managementin the company. This study aimed to determine the effect of direct and indirect ownership structure and capitalstructure toward dividend policy and firm value. Ownership structure was measured by total percentage ofstock ownership by management, capital structure was measured with debt to equity ratio (DER), dividendpolicy was measured by dividend payout ratio (DPR) and the value of the firm measured by price to book value(PBV). Population research was all the firms in the manufacturing industries listed in Indonesia Stock Exchange(IDX) from 2006 until the year of 2009 namely 149 companies. Sampling conducted in the researchwas purposive sampling method. Based on the criteria obtained by purposive sampling, 15 companies wereeligible to be utilized as the research sample. The results of this research were the impact of ownership structurewas not significant on dividend policy, the ownership structure had a significant positive impact on corporatevalue, capital structure did not significantly effect on dividend policy, capital structure did not significantlyaffect the value companies, dividend policy had a significant positive impact on corporate value.
Analysis of Supply Chain Management Practices on Private Banks in Indonesia
Armen, Armen;
Putu Wiagustini, Ni Luh;
Rahyuda, Henny;
Gede Sri Artini, Luh
International Journal of Supply Chain Management Vol 9, No 4 (2020): International Journal of Supply Chain Management (IJSCM)
Publisher : International Journal of Supply Chain Management
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Abstract— This study examines the role of profitability in mediating the effects of supply chain on market structure, GDP growth, inflation rates and exchange rates. This research was conducted at Bank Indonesia of all banking companies namely the National Non-Foreign Exchange Private Bank in Indonesia. Based on a purposive sampling technique, the number of samples (n) from data time series every year during the 2013-2017 period is 15 company samples, so the total sample of research for 5 years is 75 observations. The analysis used in this study is Path analysis or path analysis. Based on the analysis, overall credit risk at Non-Foreign Exchange Commercial Banks during the 2013-2017 period was influenced by internal factors (capital and liquidity ratios) and external factors (GDP growth) with Profitability as Moderating that occurred between the ratio of capital, liquidity and GDP growth to risk credit. Supply chain strategy has a significant positive effect on profitability at Non-Foreign Exchange Commercial Banks during the 2013-2017 period. Bank size has a significant positive effect on profitability in Non-Foreign Exchange Commercial Banks during the 2013-2017 period. Liquidity has a significant positive effect on profitability at Non-Foreign Exchange Commercial Banks during the 2013-2017 period. GDP growth has a significant positive effect on profitability at non-foreign exchange commercial banks during the 2013-2017 period. Inflation has no significant positive effect with profitability at Non-Foreign Exchange Commercial Banks during the 2013-2017 period. The exchange rate (exchange rate) has a significant positive effect on profitability at non-foreign exchange commercial banks during the 2013-2017 period. Supply chain strategy has a significant positive effect on credit risk at Non-Foreign Exchange Commercial Banks during the 2013-2017 period. GDP growth has a significant positive effect on credit risk at non-foreign exchange commercial banks during the 2013-2017 period. Inflation has no significant positive effect on credit risk at Non-Foreign Exchange Commercial Banks during the 2013-2017 period. The exchange rate (Exchange) has no significant positive effect on credit risk at Non-Foreign Exchange Commercial Banks during the 2013-2017 period. Profitability does not have a significant positive effect on credit risk at Non-Foreign Exchange Commercial Banks during the 2013-2017 period. Profitability only mediates the relationship between the ratio of capital, liquidity and GDP growth to credit risk. The management must establish metrics in supply chain and show a clear link on all performance indicators.
MENINGKATKAN MANAJEMEN TOKO KELONTONG DALAM MENGHADAPI RITEL MODERN DI DESA MENGWI KABUPATEN BADUNG
N.K. Seminari;
N.K. Purnawati;
L.G.S. Artini;
N.M. Rastini;
I.N. Nurcaya;
I.G.K. Warmika
Buletin Udayana Mengabdi Vol 16 No 3 (2017)
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat
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Modern retail like Alfamart and Indomaret develops really fast at some cities in Indonesia. These retails has a strong management which is a network. In some region this things are considered “threats” to the grocery store or either a small mini-market. One of the problems of this kinds that is being observed is in Mengwi Village Mengwi Sub-district Badung Regency. Seeing this condition then a community service is held which entitled “Increasing the Management of Grocery Store in Order to Face Modern Retail in Mengwi Village Mengwi Sub-district Badung Regency. The purpose of this community service is to increase the management of Grocery Store in order to face the threats of modern retail such as Alfamart and Indomaret. The coaching will be held by visiting one kind of grocery store or mini-market that located in Mengwi Village. The amount of traders that are coached are 40 people. This community service formally held within 5-7 days, this activity is expected to be able reach the traders generally. The result of the community service is expected to be able to arrange the financial administration, the product’s turnover, product’s arrangement, the change of the price’s information, and a better consumer service. For the community service’s team, this activity is useful to apply theories and devoted themselves to the people.
PENGARUH EVA DAN KINERJA KEUANGAN TERHADAP RETURN SAHAM PERUSAHAAN TAMBANG BATUBARA DI INDONESIA
Herbet Bastian;
Luh Putu Wiagustini;
Luh Gede Sri Artini
Buletin Studi Ekonomi VOL.23.NO.1. FEBRUARI 2018 (PP 1-153)
Publisher : Buletin Studi Ekonomi
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Evaluasi atas kinerja perusahaan mutlak diperlukan bagi pengambilan keputusan investasi yang optimal bagi para investor. Di antara instrumen pengukuran kinerja yang ada, analisis fundamental menjadi salah satu pilihan yang umum digunakan dalam mengevaluasi kinerja perusahaan. Konsep Economic Value Added (EVA) merupakan alternatif evaluasi kinerja yang berupaya mengatasi kendala pengukuran penciptaan value bagi para investor. Nilai akhir pengukuran EVA berupa nilai uang dari selisih Laba Bersih Operasional Setelah Pajak (Net Operating Profit After Tax) dengan Biaya Modal (Cost Of Capital). Dengan metode tersebut maka komponen biaya modal dalam perhitungan laba ekonomis yang dihasilkan akan lebih fair dikarenakan memperhatikan source of fund modal perusahaan. Penelitian ini menguji kembali hubungan pengaruh antara EVA, Current Ratio, Return On Asset (ROA), Debt to Equity Ratio (DER), Price Earning Ratio (PER), dan Sales Growth Ratio terhadap stock return. Sampel perusahaan yang digunakan dalam penelitian ini adalah 35 perusahaan terbuka Indonesia di sektor tambang batubara periode 2010 sampai tahun 2014 yang terdaftar di Bursa Efek Indonesia (IDX) dan diperoleh 27 perusahaan sebagai sampel penilitan. Hasil penelitian menunjukkan bahwa DER berpengaruh terhadap stock return. Kata Kunci: Return Saham, ROA, CR, DER, PER, EVA, Sales Growth
KINERJA PORTOFOLIO SAHAM UNDERVALUED DAN OVERVALUED PADA INDEKS LQ45 DI BURSA EFEK INDONESIA
Anak Agung Ngurah Mustakawarman;
I Gusti Bagus Wiksuana;
Luh Gede Sri Artini
Buletin Studi Ekonomi VOL.21.NO.2.AGUSTUS 2016 (PP 115-232)
Publisher : Buletin Studi Ekonomi
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DOI: 10.24843/bse.2016.v21.i02.p09
Abstract: The Stock Portfolio Performance Based on Undervalued and Overvalued Using Capital AssetPricing Model. The purposes of this research are investigating the stock portfolio performance basedon undervalued and overvalued using Capital Asset Pricing Model. The sample used in this research isthe go-public companies whose stocks are listed at LQ 45 Index Februari - Juli 2014 period in IndonesianStock Exchange. The sample selection is done by purposive sampling method, analyzed using TreynorIndex and tested by mean difference statistical test. The result of this research show that there is nosignificant difference between undervalued stock portfolio performance in the forming period and thefollowing period, the performance of forming period is decreasing in the next period. Overvalued stockportfolio performance in the forming period has no significant difference with the following period andthe performance of forming period is increasing in the next period. Abstrak: Kinerja Portofolio Saham Berdasarkan Undervalued dan Overvalued Menggunakan CapitalAsset Pricing Model. Tujuan penelitian ini adalah menjelaskan kinerja portofolio saham berdasarkanundervalued dan overvalued menggunakan Capital Asset Pricing Model. Sampel yang digunakandalam penelitian ini adalah perusahaan terbuka yang tercatat pada indeks LQ 45 periode Februari – Juli2014 di Bursa Efek Indonesia. Pemilihan sampel menggunakan metode purposive sampling denganjumlah sampel sebanyak perusahaan yang memperoleh rata-rata return harian positif selama 6 bulanpengamatan. Teknik analisis menggunakan Indeks Treynor dan diuji menggunakan uji beda rata-rata.Hasil penelitian menunjukkan bahwa tidak terdapat perbedaan yang signifikan antara kinerja portofoliosaham undervalued periode pembentukan dengan periode berikutnya dan kinerja portofolio sahamundervalued pada periode berikutnya mengalami penurunan. Kinerja portofolio overvalued periodepembentukan tidak terdapat perbedaan yang signifikan dengan periode berikutnya namun mengalamipeningkatan kinerja pada periode berikutnya
PENGARUH BUNGA PASAR, KUPON DAN MATURITY TERHADAP HARGA OBLIGASI DI BURSA EFEK INDONESIA
I Gusti Ngurah Satria Wijaya;
Ida Bagus Panji Sedana;
Luh Gede Sri Artini
Buletin Studi Ekonomi VOL.20.NO.1.FEBRUARI 2015 (PP 1-82)
Publisher : Buletin Studi Ekonomi
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The Effect Of Market Interest, Coupon and Maturity To Bond Price In Indonesia Stock Exchange. Research on perceived bond is still limited compared to research on stocks in Indonesia. Bonds could be one type of asset is quite interesting, because it is able to provide fixed-income bonds for investors who do not like the risk and can be used as an alternative investment than shares. This research purposes to find the effect of market interest rates, interest rate coupon and maturing bonds against bond prices in Indonesia Stock Exchange. The population in research are all recorded corporate bonds be marketed on the Indonesia Stock Exchange (IDX) from 2009 to 2011 with sample size is as much as 115 bond. Research hypothesis testing used multiple linear regression analysis techniques. Based on the output of the analysis be discovered that the market interest rate is significantly negative effect on bond prices, the coupon rate is significantly positive effect on bond prices, and the maturities are significantly negative effect on bond prices. Keywords: Market Rate, Coupon Rate, Term Maturity, Bond Prices.
EVALUASI TINGKAT KESEHATAN LEMBAGA PERKREDITAN DESA (LPD) DI KABUPATEN KLUNGKUNGEVALUASI TINGKAT KESEHATAN LEMBAGA PERKREDITAN DESA (LPD) DI KABUPATEN KLUNGKUNG
I Dewa Gede Agustina;
Ida Bagus Anom Purbawangsa;
Luh Gede Sri Artini
Buletin Studi Ekonomi VOL.22.NO.2. AGUSTUS 2017 (PP 113-261)
Publisher : Buletin Studi Ekonomi
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Information technology has become a major part of an organization. To realize good governance, one ofthem can be done by continuously making improvements in the management of regional finances andapplying the application of Regional Financial Management Information System (SIPKD). The successof this application can not be separated from the existence of quality human resources, informationtechnology and top management support. This research was conducted by using survey method withquestionnaire technique. The population in this study were 166 respondents, consisting of financialofficer and head of department in Denpasar City Government as much as 70 respondents with purposivesampling technique and multiple regression analysis model and moderation regression analysis. Theresult obtained is the capacity of human resources and information technology have a positive effect onthe implementation of regional financial information management system. Top management supportstrengthens the influence of human resource and information technology capacity on the implementationof SIPKD in Denpasar City Government.Keywords : the health of lembaga perkreditan desa, camel
Market Reaction As An Impact Of The Fed Interest Rate Decrease Announcement In Asian And European Areas
Luh Gede Sri Artini
Matrik : Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan Volume 16 Nomor 1 Tahun 2022
Publisher : Universitas Udayana
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DOI: 10.24843/MATRIK:JMBK.2022.v16.i01.p03
Market Reaction As An Impact Of The Fed Interest Rate Decrease Announcement In Asian And European Areas ABSTRACT The announcement of the reduction in the Fed's interest rate on July 31, 2019 is a rare event since 2008. The Fed's rate cut will have a major impact on the global economy and conditions in the capital market.The purpose of this study is to determine whether there is a difference in the average abnormal return around the date of the announcement of the Fed's interest rate hike in Asia and the European region. The sample of this study was 18 emerging market countries' index indices in Asia and Europe with sample collection techniques using purposive sampling. This study uses One Way Anova analysis techniques and One Sample T-test. The results found that there was no difference in the average abnormal return before and after the announcement of the Fed's interest rate increase. This condition shows that markets in the two regions do not react significantly because markets in Asia and the European region are in an efficient condition in the form of half strong, where the market absorbs information quickly and is reflected in stock prices so there is no difference in the average abnormal return in both regions. The absence of a difference in the average abnormal return is also caused by the uncertainty of the global economy making investors more careful in making investment decisions.
PENGARUH INDEKS BURSA DUNIA PADA INDEKS HARGA SAHAM GABUNGAN BURSA EFEK INDONESIA
Utama I Wayan Agus Budi;
Artini Luh Gede Sri
Matrik : Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan Volume 9 Nomor 1 Tahun 2015
Publisher : Universitas Udayana
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The purpose of this study is to determine the effect of Dow Jones, Nikkei 225, FTSE 100 and Straits Times Indexes on the Jakarta Composite Index (JCI) on September 2008 until December 2013. This study used non-participant observation method and the whole population was used as sample. The data was analized by multiple linear regression technique. The findings show that Dow Jones Index and Straits Times Index has a positif effect on JCI partially, meanwhile the FTSE 100 index and Nikkei 225 index do not affect JCI during September 2008 until December 2009.
PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA
Alfredo Mahendra Dj;
Luh Gede Sri Artini;
A.A Gede Suarjaya
Matrik : Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan Volume 6 Nomor 2 Tahun 2012
Publisher : Universitas Udayana
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Firm value is very important because the high value of the firm which will be followed by higher shareholder wealth. This study aims to determine the effect on the value of the company’s financial performance with the dividend policy as a moderating variable. The population in this study are all manufacturing companies listed on the BEI consecutive dividend during the period 2006-2009. The results showed that: 1) liquidity not significant positive effect on firm value, 2) dividend policy is not able to significantly moderate the effect of liquidity on the value company, 3) leverage not significant negative effect on firm value, 4) dividend policy is not able to significantly moderate the effect of leverage on firm value, 5) Profitability significant positive effect on firm value, 6) dividend policy is notable tosignificantly moderate the effect of profitability on firm value