Articles
Aplikasi Rasio Keuangan untuk Memprediksi Laba pada Perusahaan Properti yang Go Publik di Bursa Efek Jakarta
Sunarjanto, N. Agus;
Anggraeni, Feena Renata
Jurnal Widya Manajemen & Akuntansi Vol 7, No 1 (2007)
Publisher : Fakutas Ekonomi Unika Widya Mandala Surabaya
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This paper draws the ability of financial ratio as an earning predictor of property companies at Jakarta Stock Exchange (JSX). Moreover this research tries to find which is significant distinction between financial ratios to property companies This research is conducted by hypotesis and analyzed by discriminant analysys. As result, financial ratios be able to predict property companies earning in JSX with the grouping accuraly is 65.74 % (wilk's lamda: 0.881 and chi 'square: 13.262) than, by stepwise method, the result shows that ROA and current ratio are different.
Analisis Pasar Regional Kawasan Asia Timur (China, Hong Kong, Jepang, dan Korea Selatan) dalam Hubungannya dengan Pasar Dunia
Roida, Herlina Yoka;
Sukamto, Utomo;
Sunarjanto, N. Agus
Jurnal Widya Manajemen & Akuntansi Vol 5, No 3 (2005)
Publisher : Fakutas Ekonomi Unika Widya Mandala Surabaya
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This paper draws the prospect of regionalism among financial market in East Asia (China, Hong Kong, Japan and South Korea). The first part examines the correlation among them that lead to regional integration. The second part shows the possibility of integration or segmentation between East Asia countries and world. The next part, tries to draw whether last financial crises 1997 gave different result to the integration process.
ANALISIS KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH SEASONED EQUITY OFFERINGS DI BURSA EFEK JAKARTA
Sunarjanto, N Agus
Jurnal Organisasi dan Manajemen Vol 3 No 1 (2007)
Publisher : LPPM Universitas Terbuka
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Seasoned Equity Offering (SEO) is an additional public offering of a company’s shares in order to generate extra financing for business expansion or fulfillment of its liability. Based on Jakarta Stock Exchange data, 11 listed companies conducted SEO during year 2001. However, only 8 companies meet the requirements as samples for this research. In order to evaluate financial and operational variables, this research uses financial statement figures published 2 year prior and after SEO’s. Current ratio (CR), debt to equity ratio (DER) are chosen to represent financial variables, while net profit margin (NPM) and return on investment (ROI) represent operational variables. This research reveals that there was no significant difference in financial performance before and after SEO’s. It happened due to several factors, such as: (1) the fund generated from SEO’s were used to settle matured debts; and (2) foreign currency denominated debts which increased in value during the period of economic crisis
KAJIAN MODEL KLASIFIKASI KEGAGALAN BISNIS USAHA MIKRO KECIL DAN MENENGAH
Sunarjanto, Nekhasius Agus
Jurnal Muara Ilmu Ekonomi dan Bisnis Vol 2, No 1 (2018): Jurnal Muara Ilmu Ekonomi dan Bisnis
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat, Universitas Tarumanagara
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DOI: 10.24912/jmieb.v2i1.1832
Penelitian ini yang mengkaji model klasifikasi kegagalan usaha UMKM di Indonesia, yang telah dihasilkan pada penelitian tahun pertama . kegagalan usaha adalah penurunan hutang lancar yang disebabkan ketidakmampuan UMKM untuk mendapatkan pinjaman modal kerja . UMKM tidak mempunyai pencatatan yang standard akuntansi, sehingga peneliti melakukan pelatihan dan pendampingan UMKM. Hasil pelatihan dan pendampingan menghasilkan 50 responden yang memenuhi kriteria sebagai responden dalam penelitian ini . Data yang dihasilkan pada pelatihan dan pendampingan tersebut berupa laporan keuangan tahun 2016 . Dengan data laporan keuangan UMKM tersebut diuji dengan Model determinan kegagalan usaha mencakup tiga variabel: rasio modal kerja / total aset; rasio kewajiban lancar / kewajiban lancar; dan rasio aset / persediaan cepat. Hasil penelitian ini menunjukkan bahwa tidak ada perbedaan antara estimasi dengan klasifikasi kegagalan aktual dibuktikan dengan paired sampel test dengan nilai t = 0.292 dan significant 0.771, lebih besar dari 0.05. Hal ini menunjukkan bahwa model indikator kegagalan keuangan dapat diterapkan untuk memprediksi kegagalan UMKM .Kata Kunci : Model kegagalan, Prediksi kegagalan, Uji beda, UMKM
ANALISIS EFISIENSI PENGGUNAAN MODAL KERJA PADA USAHA KECIL MENENGAH DI SURABAYA
Sunarjanto, Nekhasius Agus
Performance Vol 26 No 1 (2019): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman
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DOI: 10.20884/1.jp.2019.26.1.1379
Membangun UKM agar mampu untuk bertahan dalam kondisi persaingan yang semakin kompleks tidaklah mudah , Pelaku usaha yang telah mempersiapkan diri untuk berkompetisi akan eksis, tetapi banyak pula pengusaha yang gagal. Berdasarkan hasil temuan penelitian sebelumnya , bahwa kegagalan bisnis UKM sangat ditentukan oleh kemampuan pengelolaan modal kerja. Pengelolaan modal kerja adalah mengatur penggunaan modal kerja sesuai kebutuhan usaha. Kebutuhan modal kerja sangat ditentukan oleh tingkat siklus konversi kas sehingga perlu memperhitungkan tingkat perputaran dari masing masing komponen di dalam modal kerja. Penelitian ini membandingkan antara penggunaan modal kerja dengan kebutuhan modal kerja yang harus dipenuhi oleh usaha, penggunaan modal kerja bisa berlebihan , atau kekurangan. Kelebihan atau kekurangan modal kerja berdampak pada ketidak efisienan perusahaan dalam menjalankan usaha, yang pada akhirnya akan mengalami kebangkrutan
PENGUJIAN MODEL HUBUNGAN SIMULTANITAS ANTARA KEPEMILIKAN MANAJERIAL, LEVERAGE, DAN KEBIJAKAN DEVIDEN DALAM PERSPEKTIF TEORI KEAGENAN (STUDI EMPIRIS TERHADAP PERUSAHAAN MANUFAKTUR DI INDONESIA
Bramantyo, Bonaventura Trio;
Sunarjanto, N. Agus
JURNAL ILMIAH MAHASISWA MANAJEMEN Vol 6, No 1 (2017)
Publisher : Universitas Katolik Widya Mandala Surabaya
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DOI: 10.33508/jumma.v6i1.1762
The purpose of this research is to test the market reaction shown by the existence of abnormal return to the change of cash dividend distribution in two different condition that is bullish and bearish market condition in period 2014-2016. The sample used in this research is 165 announcement of dividend up and down. The method used in this study is the analysis of event study to analyze the market reaction in the observation period that is 11 days around the date of the announcement of cash dividends. The results of this study indicate that in bullish or bearish condition, the increase and decrease of cash dividend to be distributed has no impact on market reaction. Therefore, this study does not support signaling theory.
Pengaruh Intangible Asset Terhadap Firm Value Melalui Financial Policy Dan Financial Performance Pada Industri Manufaktur Di Indonesia
Wibisono, Hermawan;
Susilawati, Cicilia Erna;
Sunarjanto, Agus
Kajian Ilmiah Mahasiswa Manajemen Vol 6, No 1 (2017)
Publisher : Kajian Ilmiah Mahasiswa Manajemen
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The purpose of this research was to examine the impact of intangible asset to firm value trough financial policy and financial performance in manufacturing industry in Indonesia. This research is a casual which use financial report as the base of data. This type of method is purposive sampling. The secondary data collected from yearly financial report of manufacturing industry which listed in Jakarta Stock Exchange (JKSE) during 2012-2015. Thi research was analyzing by path analysis method with Software Eviews 7, Microsoft Excel, and SPSS 13. The result of this research shows some results like the result that found that intangible asset has a significant influence to financial policy which represented by debt to equity ratio. This research also found that intangible asset has a significant influence to financial performance which represented by liquidity ratio, return on asset, and asset turnover. This research also found that intangible asset, financial policy which represented by debt to equity ratio and financial performance which represented by return on asset and asset turnover have significant influence to firm value. This research also found that intangible asset has a significant influence to firm value trough financial policy which represented by debt to equity ratio and financial performance which represented by return on asset and asset turnover. Based on this research, the researcher recommend to the investors, firm managerial and the shareholders to take a pay attention the existence of intangible asset in a firm that can be influenced to firm value directly or indirectly trough financial policy and financial performance.
Pengujian Hubungan Simultanitas Antara Kepemilikan Manajerial Dan Kebijakan Hutang (Studi Empiris pada Bursa Efek Indonesia)
Shaffira, Fernanda Sheila;
Sunarjanto, N. Agus;
Sina, Siprianus S.
Kajian Ilmiah Mahasiswa Manajemen Vol 6, No 2 (2017)
Publisher : Kajian Ilmiah Mahasiswa Manajemen
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The purpose of this study was to examine the relationship between managerial ownership and debt policy. Based on nonlinear simultaneous equations in Indonesian firms listed on the Indonesian stock exchanges during the 2011-2016 research period, this study shows that managerial ownership and debt policy have simultaneous relationships. By using Simultaneous Equation Model, the research result shows that debt policy has a positive effect on managerial ownership. In addition, this study proves that managerial ownership has a nonmonotonic relationship to debt policy. When managerial ownership under 7,8% has a positive relationship to debt policy. Then, when managerial ownership is in the range of 7,8% to 24% will be negatively related. However, when managerial ownership above 24% it will positively affect. The results of this study proves that managers in the company can behave entrench or alignment in making decisions about managerial ownership and debt policy.
ANALISIS KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH SEASONED EQUITY OFFERINGS DI BURSA EFEK JAKARTA
N Agus Sunarjanto
Jurnal Organisasi Dan Manajemen Vol 3 No 1 (2007)
Publisher : LPPM Universitas Terbuka
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Seasoned Equity Offering (SEO) is an additional public offering of a company?s shares in order to generate extra financing for business expansion or fulfillment of its liability. Based on Jakarta Stock Exchange data, 11 listed companies conducted SEO during year 2001. However, only 8 companies meet the requirements as samples for this research. In order to evaluate financial and operational variables, this research uses financial statement figures published 2 year prior and after SEO?s. Current ratio (CR), debt to equity ratio (DER) are chosen to represent financial variables, while net profit margin (NPM) and return on investment (ROI) represent operational variables. This research reveals that there was no significant difference in financial performance before and after SEO?s. It happened due to several factors, such as: (1) the fund generated from SEO?s were used to settle matured debts; and (2) foreign currency denominated debts which increased in value during the period of economic crisis
THE EFFECT OF MEMBER EMPOWERMENT PROGRAM ON THE WELFARE OF THE CREDIT UNION MEMBERS IN EAST JAVA
Sunarjanto, Nekhasius Agus;
Susilawati, Cicilia Erna;
Supriharyanti, Elisabeth
KINERJA Vol 24, No 2 (2020): KINERJA
Publisher : Faculty of Economics Universitas Atma Jaya Yogyakarta
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DOI: 10.24002/kinerja.v24i2.3137
This study focuses on the institutions in the form of credit unions that provide credit loans to micro-businesses. The sample of this study consisted of 102 members of 15 different credit co-operatives in East Java as the research participants. The research objective of this study was to determine the effect of empowerment programs on the welfare of the members. The empowerment programs were divided into (1) educational, (2) training, (3) savings and loan, and (4) network development programs. The results showed that the empowerment programs through education and training programs had a significantly positive effect on increasing the welfare of the members, while the savings and loan programs as well as the network building program did not significantly affect the welfare of the members. This was possible because members who already had networks and received funding assistance would not succeed without good education and training programs. The research was expected to contribute academically in the development of savings and loan co-operative unions (CUs) and provide a foundation and solution for all CU administrators in developing the CUs, especially in improving the welfare of their members.Keywords: Credit Union, member empowerment, and member welfare