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All Journal Jurnal Keuangan dan Perbankan MABIS Jurnal Ilmiah Universitas Batanghari Jambi Akurasi : Jurnal Studi Akuntansi dan Keuangan Journal of Indonesian Economy and Business
Maria Kontesa
Department of Accounting, STIE Widya Dharma Pontianak Jl. Hos Cokroaminoto No.16, Pontianak, 78243
Agriculture, Biological Sciences & Forestry Civil Engineering, Building, Construction & Architecture Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice

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KAJIAN LABA AKUNTANSI, TOTAL DAN KOMPONEN ARUS KAS TERHADAP HARGA SAHAM DI BURSA EFEK INDONESIA Kontesa, Maria
MABIS Vol 3, No 1: Juni 2012
Publisher : MABIS

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to test the cash flow total, accounting income, cash flow from operation activity, cash flow from investing activity and cash flow from financing activity are expected to affect the stock price in annual reporting companies included in the LQ-45 firms in Indonesia Stock Exchange. The sample data used is the company that includes LQ-45 index in the period February 2008 to January 2011 using annual reports from each company for the fiscal year 2008 to 2010. Datas were analyzed by using the classical assumption test and multiple linear regression analysis with SPSS program ver16. The results of this study indicate that the cash flow total and, accounting income had significant effect on stock price in corporate annual reports because if accounting income increase then the investors will investing theirs money in that company, so the companys stock price will be increase too. Results of these studies in line with research conducted by the Triyono dan Jogiyanto Hartono (2000), Vicky Oktavia (2008) and others researchers. From the results of these studies shows that accounting income had significant positif effect on stock price in corporate annual reports, which Results of these studies in line with research conducted by Triyono dan Jogiyanto Hartono (2000) and Vicky Oktavia (2008). As a simultant test the cash flow total accounting income and accounting income had significant positif effect on stock price in corporate annual. Results of these studies had no significant effect on stock price in corporate annual reports between cash flow from investing activity, and cash flow from financing activity on stock price in partial (based on t-test) and simultant test (based on F-test), which Results of these studies not in line with research conducted by Triyono dan Jogiyanto Hartono (2000) and Vicky Oktavia (2008), but in line with research conducted by Dillah Utami Cahyani (1999).  
Has aggressive investing strategy performed? An insight from Malaysia listed companies Kontesa, Maria; Lim, Emily Jia Chee; Brahmana, Rayenda Khresna
Jurnal Keuangan dan Perbankan Vol 23, No 3 (2019): July 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v23i3.3069

Abstract

This study examines the role of aggressive investing strategy on firm performance for a sample of 514 listed firms in Malaysia from 2010 to 2017. In our first objective, we investigate the investing activism effect on firm performance by simultaneously controlling the firm characteristics and industry in our model. Our second objective is to test whether aggressive investing activism affects firm performance. Lastly, we want to investigate whether this aggressive investing may produce different results with different measures of performance. Our findings show that investment has significant effects on firm performance. Our research further indicates that companies with aggressive investing strategies had a better firm performance than compared to its peers. We test this theory using three different measures of aggressive investing strategies and substantiate this conclusion. Our research confirms the resource-based view theory and empirically proves that aggressive investments would result in better firm performance.JEL Classification: C23, D21, G31, L25DOI: https://doi.org/10.26905/jkdp.v23i3.3069
PENGARUH KEPEMILIKAN MANAGERIAL TERHADAP KEPUTUSAN DIVERSIFIKASI PERUSAHAAN Kontesa, Maria; Contesa, Theresia; Contesa, Sisca
Akurasi : Jurnal Studi Akuntansi dan Keuangan Vol 5 No 1 (2022): Akurasi: Jurnal Studi Akuntansi dan Keuangan, Juni 2022
Publisher : Faculty of Economics and Business University of Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/akurasi.v5i1.191

Abstract

Penelitian ini bertujuan untuk menguji pengaruh kepemilikan manajerial terhadap diversifikasi perusahaan dengan menggunakan teori agensi sebagai kerangka teoretis. Penelitian ini menguji hipotesis dengan menggunakan 183 perusahaan yang terdaftar di Bursa Efek Indonesia dari tahun 2016 hingga 2020 dengan menggunakan regresi panel logistik. Hasil penelitian menunjukkan kepemilikan manajerial berpengaruh negatif terhadap diversifikasi perusahaan, yang mengindikasikan bahwa kepemilikan manajerial yang lebih tinggi akan membuat manajer menghindari risiko dengan cara menghindari diversifikasi. Temuan ini berlaku untuk diversifikasi industri dan diversifikasi geografis. Lebih lanjut lagi, penelitian ini berkontribusi pada literatur teori agensi dengan mengungkapkan konflik kepentingan manajer, yang juga merupakan pemegang saham, dalam membuat keputusan strategis. Hal ini juga mengungkapkan bahwa kepemilikan manajerial yang tinggi dapat merugikan kekayaan pemegang saham minoritas. Penelitian mendatang dapat mengelaborasi dampak tata kelola perusahaan atau sumber daya manusia terhadap diversifikasi perusahaan.
Do the Characteristics of Startup Founders Matter for Funding Performance? Brahmana, Rayenda Khresna; Setiawan, Doddy; Lau, Evan; Kontesa, Maria
Journal of Indonesian Economy and Business Vol 39 No 3 (2024): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v39i3.11841

Abstract

Introduction/Main Objectives: Based on the upper echelons theory, this research examines the role of startup founders' characteristics on startup funding performance (SFP). This study considers the founder's experience, education, and gender as the characteristics that positively affect the SFP. Background Problems: While academia and industry emphasize the importance of startup funding performance (SFP), the empirical evidence on its determinant has received less attention. Yet, upper echelons theory addresses the importance of a leader's characteristics in increasing the organization's performance. Therefore, the current study focuses on investigating the role of startup founders' characteristics in the SFP. Novelty: The current study proposes the founder's characteristics as the key factor for startup funding. Unlike previous studies, this study utilized a survey design to answer the research question. Additionally, this study is the pioneer for entrepreneurial finance studies in gauging the upper-echelons framework. Research Methods: This research collected information from 228 Indonesian Startups through a survey. The estimation model is estimated using robust cross-sectional OLS regression and logistic regression. For robustness purposes, this study tackles the endogeneity issue by using two-stage least squares (TSLS) and PLS-SEM. Finding/Results: The regression results (including the two-stage least square approach) reveal that education and gender play a significant role in SFP but not experience. Moreover, it shows that higher education would increase a startup's probability of having better funding. Meanwhile, male entrepreneurs have lower funding performance than women entrepreneurs. Conclusion: Our study surmises that the education of the founders is crucial for startup financing in Indonesia. It also shows that the experience of founders has a trivial effect. It supports the upper echelons theory, emphasizing the pivotal role of founders' characteristics in entrepreneurial finance. Policy-wise, focusing on education can enhance startup success while addressing gender disparities is crucial. However, limitations exist, suggesting the need for longitudinal studies and broader sample sizes. Future research could explore managerial abilities and cultural factors, offering fresh insights into the literature.
Tobin's Q dan Determinannya: Studi Empiris Averio, Thomas; Kontesa, Maria; Satrio, Arif Budi
Jurnal Ilmiah Universitas Batanghari Jambi Vol 24, No 2 (2024): Juli
Publisher : Universitas Batanghari Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33087/jiubj.v24i2.5082

Abstract

This research aims to analyze factors that influence firm value, including profitability, leverage, liquidity and firm size. Research on 56 Primary Consumer Goods Sector Companies in Indonesia with an observation period of 2017 to 2021. Data analysis carried out using multiple linear regression shows that profitability has a positive effect while leverage has a negative effect on firm value. This research fails to prove the role of liquidity and company size in explaining changes in firm value.
Co-Authors Arif Budi Satrio Contesa, Sisca Contesa, Theresia Doddy Setiawan Lau, Evan Lim, Emily Jia Chee Rayenda Khresna Brahmana Thomas Averio