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All Journal Signifikan : Jurnal Ilmu Ekonomi MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN E-Jurnal Ekonomi dan Bisnis Universitas Udayana E-Jurnal Manajemen Universitas Udayana Jurnal Riset Ekonomi dan Bisnis Indonesian Journal of Business Analytics (IJBA) International Journal of Management Research and Economics INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE
Sayu Ketut Sutrisna Dewi
Fakultas Ekonomi Dan Bisnis, Universitas Udayana, Bali, Indonesia
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education

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EFFECT OF LIQUIDITY, SOLVENCY, PROFITABILITY AND ACTIVITY REGARDING STOCK RETURNS I Kadek Yoga Dwiantara; Sayu Ketut Sutrisna Dewi
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 10 (2024): October
Publisher : Adisam Publisher

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Abstract

Returnshares are the value obtained as a result of investment activities. Return is very important as an attraction for investors to invest their investment funds. The aim of this research is to analyze and explain the influence of liquidity, solvency, profitability and activity on stock returns. The number of samples in this study was 23 companies included in the LQ45 index on the Indonesia Stock Exchange for the 2020-2023 period. Data collection uses non-participant observation methods. The data analysis technique used is multiple linear regression analysis. The results of the analysis show that liquidity has a significant positive effect on stock returns, solvency has an insignificant negative effect on stock returns, profitability has a significant positive effect on stock returns, and activity has an insignificant positive effect on stock returns.
TESTING MARKET ANOMALIES ON ABNORMAL RETURNS AND TRADING VOLUME ACTIVITY FOR LQ45 INDEX Ni Luh Putu Yulia Paramita; Sayu Ketut Sutrisna Dewi
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2024): December
Publisher : Adisam Publisher

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Abstract

Market anomalies are unanticipated events that provide investors with opportunities to achieve abnormal returns. The January Effect and Monday Effect are two seasonal anomalies often exploited by investors to gain abnormal returns in the capital market. This study aims to investigate the impact of the January Effect and the Monday Effect on abnormal returns and trading volumes on Mondays and in the months before and after January for LQ45 stocks on the Indonesia Stock Exchange (IDX) from 2019 to 2023. The study population consists of 63 issuers, with a sample of 25 selected through purposive sampling. The analysis uses the Paired Sample T-test, Wilcoxon Signed Rank Test, and One-Sample Test processed with SPSS software.The analysis reveals that the January Effect causes abnormal returns in 2019, 2020, and 2021, but not in 2022 and 2023. Trading volume showed no significant differences during the observation period. For the Monday Effect, significant average abnormal returns are observed on Mondays in 2020, 2021, and 2023, but not in 2019 and 2022. Trading volume on Mondays also shows significant differences across the observation period. These findings suggest that investors should consider market anomalies when making investment decisions.
ANALISIS REAKSI PASAR MODAL INDONESIA TERHADAP PERISTIWA PENGUMUMAN PENGHENTIAN EKSPOR KOMODITAS SAWIT TAHUN 2022 I Gusti Ngurah Agung Bagus Dirotsaha Kusuma; Sayu Ketut Sutrisna Dewi
E-Jurnal Manajemen Vol 13 No 3 (2024)
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJMUNUD.2024.v13.i03.p02

Abstract

Studi peristiwa ini bertujuan untuk mengetahui apakah terdapat reaksi pasar modal Indonesia atas pengumuman penghentian ekspor komoditas sawit tahun 2022 dengan menggunakan indikator abnormal return, trading volume activity, dan bid ask spread. Sampel dalam penelitian ini adalah 22 saham perusahaan sawit yang tedaftar pada Bursa Efek Indonesia (BEI). Data yang berjenis sekunder diantaranya harga saham harian, volume perdagangan saham, harga saham harian tertinggi dan terendah, indeks harga saham harian selama tiga hari sebelum, satu hari pada saat, dan tiga hari setelah peristiwa. Berdasarkan uji paired sample t test dan uji wilcoxon diperoleh hasil bahwa terdapat perbedaan signifikan pada rata-rata abnormal return, sementara rata-rata trading volume activity dan bid ask spread terjadi perbedaan tidak signifikan. Hasil yang muncul dari penelitian ini menggambarkan bahwa pasar modal Indonesia menunjukan reaksi terhadap peristiwa yang terjadi yakni pengumuman penghentian ekspor komoditas sawit. This event study aims to find out whether there is a reaction from the Indonesian capital market to the announcement of the cessation of exports of palm oil commodities in 2022 by using the indicators of abnormal returns, trading volume activity, and the bid ask spread. The samples in this study were 22 shares of palm oil companies that were registered on the Indonesia Stock Exchange (IDX). The secondary data analyzed consisted of daily stock prices, trading volume, daily highest and lowest stock prices, daily stock price index for three days before, one day when, and three days after the event. Based on the paired sample t test and the Wilcoxon test, the results show that there is a significant difference in the average abnormal return, while the average trading volume activity and bid ask spread are not significant. The results of this study illustrate that the Indonesian capital market showed a reaction to the announcement of the termination of the export of palm commodities.
PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP STRUKTUR MODAL YANG DIMODERASI OLEH CAPITAL EXPENDITURE Hilal Asqalany; Sayu Ketut Sutrisna Dewi
E-Jurnal Manajemen Vol 13 No 2 (2024)
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJMUNUD.2024.v13.i02.p02

Abstract

Struktur modal suatu perusahaan menggambarkan perbandingan antara utang jangka panjang dan ekuitas yang digunakan oleh perusahaan. Ada dua jenis modal yaitu modal hutang dan modal ekuitas. Besarnya dampak struktur modal bagi sebuah perusahaan, melatarbelakangi penelitian ini yang bertujuan untuk mengetahui pengaruh profitabilitas, likuiditas terhadap struktur modal yang dimoderasi oleh capital expenditure pada perusahaan properti dan real estate di Bursa Efek Indonesia periode 2017-2019. Sampel yang digunakan dalam penelitian ini berjumlah 31 perusahaan. Metode penentuan sampel yang digunakan dalam penelitian ini adalah metode purposive sampling. Teknik analisis data yang digunakan dalam penelitian ini adalah analisis linier berganda. Penelitian ini menemukan pengaruh negatif profitabilitas terhadap struktur modal serta didukung oleh teori pecking order yang menyatakan bahwa dalam skenario urutan pertama, perusahaan lebih memilih menggunakan pendanaan internal sebagai sumber pendanaannya. Likuiditas berpengaruh positif pada struktur modal, memiliki arti bahwa secara umum nilai likuiditas pada perusahaan-perusahaan ini lebih besar dibandingkan dengan nilai struktur modal. Capex tidak memoderasi pengaruh profitabilitas pada struktur modal. Capex tidak memoderasi pengaruh likuiditas pada struktur modal. The corporate capital structure describes the comparison between long-term debt and equity used by the company. There are two types of capital: debt capital and own capital (equity capital). The impact of capital structures on a company is a result of this study which aims to know the effect of profitability and liquidity on the capital structure, which was hampered by investment in real estate and real estate on the Indonesian stock market for the 2017-2019 period. The sample used in this study was 31 companies. The sampling method used in this study was purposive sampling. The data analysis technique used in this study is multiple linear analysis. This study found a negative effect of profitability on capital structure and is supported by the pecking order theory, which states that in the first scenario, companies prefer to use internal funding as a source of funding. Liquidity positively influences the capital structure, which means that, generally, the liquidity value in these companies is more considerable than that of the capital structure. Capex does not moderate the influence of profitability on the capital structure. Capex does not moderate the impact of liquidity on the capital structure.
PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP HARGA SAHAM DENGAN PEMODERASI KEBIJAKAN DIVIDEN I Wayan Rai Suarnata; Sayu Ketut Sutrisna Dewi
E-Jurnal Manajemen Vol 12 No 11 (2023)
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJMUNUD.2023.v12.i11.p04

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh profitabilitas dan likuiditas terhadap harga saham dengan pemoderasi kebijakan dividen. Penelitian ini dilakukan pada perusahaan sektor kesehatan yang terdaftar di Bursa Efek Indonesia periode 2019-2021, dengan jumlah sampel sebanyak 10 perusahaan yang diperoleh menggunakan teknik purposive sampling. Teknik analisis data yang digunakan adalah analisis regresi linier berganda dan moderasi. Hasil analisis menunjukkan bahwa profitabilitas berpengaruh positif dan signifikan terhadap harga saham, likuiditas tidak berpengaruh terhadap harga saham, kebijakan dividen dapat memperkuat pengaruh profitabilitas terhadap harga saham, kebijakan dividen tidak dapat memoderasi pengaruh likuiditas terhadap harga saham. This research is aimed to determine the effect of profitability and liquidity on stock prices with dividend policies as a moderation. This research was conducted at health sector companies listed on the Indonesia Stock Exchange for the 2019-2021 period, with 10 sample companies obtained using a purposive sampling technique. The data analysis technique used is multiple linear and moderation regression analysis. The results of the analysis showed profitability has a positive and significant effect on stock prices, liquidity has no effect on stock prices, dividend policy can strengthen the influence of profitability on stock prices, dividend policy is not able to moderate the effect of liquidity on stock prices.
The Influence of Credit Risk, Operational Efficiency, Liquidity, and Profitability on Company Value (Empirical Study on Banking Subsector Companies on the Indonesia Stock Exchange for the 2021-2024 Period) Agus Ari Widana; Henny Rahyuda; Sayu Ketut Sutrisna Dewi; Ida Bagus Ketut Surya
Indonesian Journal of Business Analytics Vol. 5 No. 3 (2025): June 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v5i3.14696

Abstract

The stock price, a gauge of firm value, reflects the market's assessment of the company's performance and prospects for the future. The company's high value indicates that investors have faith in management's capacity to allocate resources and promote sustained expansion. This study aims to investigate the relationship between credit risk, profitability, liquidity, and operational efficiency and corporate value. The study's population consists of the 40 banking subsector companies that were listed on the Indonesia Stock Exchange between 2021 and 2024. The sample strategy used in this study was non-probability sampling utilizing saturation sampling methodology. Data is taken from the company's financial filings for 2021–2024. The data analysis approach used in this study was multiple linear regression analysis using SPSS software. The results showed that while profitability has a positive effect on firm value, operational effectiveness and liquidity have a negative effect, and credit risk has no effect at all. The study's conclusions can lead the development of investment plans that provide the highest rate of return and provide a basis for strategic decisions relating to initiatives to increase business value.
The Influence Of Free Cash Flow, Profitability and Growth Opportunity On Dividend Policy I Gede Agus Sumartana; Sayu Ketut Sutrisna Dewi
International Journal of Management Research and Economics Vol. 2 No. 3 (2024): August : International Journal of Management Research and Economics
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/ijmre-itb.v2i3.2152

Abstract

Dividends are one of the returns expected by shareholders apart from capital gains. Dividend distribution to investors gives a positive signal to investors for making investment decisions. The aim of this research is to analyze and explain the influence of free cash flow, profitability and growth opportunity on dividend policy. The number of samples in this research was 33 mining sector companies in 2018-2022. Data collection uses non-participant observation methods. The data analysis technique used is multiple linear regression analysis. The results of the analysis show that free cash flow has a significant positive effect on dividend policy, profitability has a significant positive effect on dividend policy and growth opportunity has a significant negative effect on dividend policy. The theoretical implication of this research is to provide knowledge and strengthen dividend policy theories related to free cash flow, profitability and growth opportunity. The practical implication of this research is that information on profitability and free cash flow produced by the company is used by the company to determine future investment directions or distribute dividends to investors as a form of good perception in the eyes of investors.
Co-Authors Agus Ari Widana Anak Agung Gede Suarjaya Ayu Desi Indrawati Desi Miadalyni Henny Rahyuda Hilal Asqalany I Dewa Gede Ariandita Darma I Gede Agus Sumartana I Gst Bagus Honor Satrya I Gusti Bagus Wiksuana I Gusti Ngurah Agung Bagus Dirotsaha Kusuma I Kadek Yoga Dwiantara I Ketut Tantra Riana I Made Dana I Wayan Rai Suarnata Ida Ayu Dwi Pusparini Mas Ida Bagus Ketut Surya Ira Puspita Istri Widya Santhi Kadek Indah Putriningrum Komang Ayu Warnayanti Ni Desak Putu Detik Arima Dewi Ni Kadek Sugiartini Ni Komang Elsa Dewi Ni Luh Putu Sintya Marini Ni Luh Putu Yulia Paramita Ni Putu Ayu Darmayanti Ni Putu Lilis Indriani Ni Putu Santi Suryantini Ni Wayan Indah Paramyta Agustino Ni Wayan Lindayani Ni Wayan Wulan Yuliani Yosua Lapian