Article Per Year (5 Year)
p-Index From 2020 - 2025
1.325
P-Index
This Author published in this journals
All Journal Jurnal Manajemen Teknologi Jurnal Keuangan dan Perbankan Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal MIX : Jurnal Ilmiah Manajemen Maker: Jurnal Manajemen Studi Akuntansi dan Keuangan Indonesia (SAKI) Jurnal Pemberdayaan Masyarakat Indonesia (JPMI)
Rathria Arrina Rachman
Universitas Prasetiya Mulya
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences

Published : 11 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 11 Documents
Search

 1   2 
The Effect of Related Party Transactions on the Performance of Indonesian Listed Companies Angelica, Brigitta; Gunawan, Desya; Christella, Jessy; Chandera, Yane; Rachman, Rathria Arrina
Jurnal Manajemen Teknologi Vol 20, No 1 (2021)
Publisher : SBM ITB

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12695/jmt.2021.20.1.2

Abstract

Abstract. The purpose of this paper is to analyze the impact of related party transactions (RPTs) on company performance using a panel data regression on 388 non-financial companies listed in Indonesia Stock Exchange during the 2015-2018 period. RPT variables used in this study are divided into several categories, namely transactions with related parties in the operational field (operational RPTs), financial field (financial RPTs), other fields (other RPTs), and total RPTs (sum of the three previous types). The study finds a significant negative relationship between financial RPTs and other RPTs on company performance. This finding is consistent with the precedent research that non-operational RPTs (i.e., financial RPTs and other RPTs) are commonly used by controlling shareholders as tunneling channels to expropriate minority shareholders. The results suggest policymakers to monitor more closely RPTs, particularly financial and other RPTs, that are more likely to be used as tunneling activities that are detrimental to firm performance. The results of this study are robust to various proxies of firm performance, providing additional empirical studies on RPTs in emerging countries with concentrated ownership structure, and shedding direct light on which type of RPTs that is mainly used as tunneling channel.Keywords: Efficient transaction hypothesis, firm performance, Indonesia, related party transactions, type II agency problemAbstrak. Tujuan dari makalah ini adalah untuk menganalisis pengaruh transaksi pihak berelasi (RPT) terhadap kinerja perusahaan dengan menggunakan regresi data panel pada 388 perusahaan nonkeuangan yang terdaftar di Bursa Efek Indonesia selama periode 2015-2018. Variabel RPT yang digunakan dalam penelitian ini dibagi menjadi beberapa kategori yaitu transaksi dengan pihak berelasi di bidang operasional (RPT operasional), bidang keuangan (RPT finansial), bidang lainnya (RPT lainnya), dan total RPT (penjumlahan dari ketiga jenis RPT yang disebutkan sebelumnya). Penelitian ini menemukan hubungan negatif yang signifikan antara RPT finansial dan RPT lainnya terhadap kinerja perusahaan. Temuan ini sejalan dengan penelitian sebelumnya bahwa RPT nonoperasional (RPT finansial dan RPT lainnya) biasanya digunakan oleh pemegang saham pengendali sebagai sarana untuk mengambil alih dari pemegang saham minoritas. Hasilnya menyarankan para pembuat kebijakan untuk melakukan pemantuan lebih terhadap RPT, terutama RPT finansial dan lainnya, yang lebih mungkin digunakan sebagai aktivitas tunneling yang merugikan kinerja perusahaan. Penelitian ini menunjukan hasil yang kuat untuk berbagai proksi kinerja perusahaan, sehingga memberikan studi empiris tambahan tentang RPT di negara-negara berkembang dengan struktur kepemilikan terkonsentrasi, dan menjelaskan langsung jenis RPT yang terutama digunakan sebagai saluran tunneling.Kata kunci: Efficient transaction hypothesis, Indonesia, masalah keagenan tipe II, performa perusahaan, transaksi pihak berelasi
Studi Likuiditas Pasar Saham Terkait Perubahan Kelompok Harga dan Fraksi Harga Saham di Bursa Efek Indonesia Dahlia Ervina; Rathria Arrina Rachman
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 5 No. 3 (2019): JABM Vol. 5 No. 3, September 2019
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.5.3.520

Abstract

The Indonesia Stock Exchange (IDX) imposed a new policy of tick size and price category changes in 2016. The purpose is to increase liquidity in order to improve the competitiveness of the capital market in Indonesia. This study aims to determine the effectiveness of the IDX's new policy in 2016 by analyzing whether changes follow the new policy applying changes in tick size and price category in the liquidity of the Indonesian stock market. In this study, stock market liquidity was measured by using the bid-ask spread, market-depth, and stock trading volume. This study applied an event study approach by including all shares traded on the Indonesia Stock Exchange (IDX) for the period of 40 days before to 40 days after the week of the new policy enforcement. The research found differences in bid-ask spread, market-depth, and stock trading volume for the period before and after the new policy applied. In conclusion, there were no significant differences in stock market liquidity after the change in policy.Keywords: stock exchange, tick size, price categories, stock liquidity, stock volumeAbstrak: Bursa Efek Indonesia (BEI) memberlakukan kebijakan baru perubahan fraksi harga dan kelompok harga saham pada tahun 2016. Hal ini dilakukan untuk meningkatkan likuiditas yang dapat meningkatkan daya saing pasar modal di Indonesia. Penelitian ini bertujuan untuk mengetahui efektivitas kebijakan baru BEI pada tahun 2016 dengan menganalisis apakah kebijakan baru yang mengubah kelompok harga dan fraksi harga saham tersebut diikuti dengan perubahan likuiditas pasar saham di Indonesia. Dalam penelitian ini, likuiditas pasar saham diukur dengan menggunakan bid-ask spread, market-depth dan volume perdagangan saham. Penelitian ini menggunakan pendekatan event study dengan mengikutsertakan seluruh saham yang diperdagangkan di Bursa Efek Indonesia (BEI) untuk periode 40 hari sebelum hingga 40 hari setelah minggu dimana pemberlakukan kebijakan baru. Temuan penelitian menemukan tidak terdapat perbedaan bid-ask spread, market-depth dan volume perdagangan saham pada periode sebelum dan sesudah perubahan kebijakan, sehingga dapat disimpulkan tidak terdapat perbedaan yang signifikan dalam likuiditas pasar saham setelah perubahan kebijakan.Kata kunci: bursa efek, fraksi harga saham, kelompok harga saham, likuiditas saham, volume saham
DAMPAK PENGUMUMAN PENERBITAN OBLIGASI PERUSAHAAN TERHADAP ABNORMAL RETURN SAHAM DI INDONESIA TAHUN 2014 – 2015 Rathria Arrina Rachman; Dahlia Ervina
MIX: JURNAL ILMIAH MANAJEMEN Vol 7, No 2 (2017): MIX: Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (487.741 KB)

Abstract

Abstract. This study aims at investigating the effect of corporate bonds issuanceannouncement on the stock market in Indonesia over 2014 – 2015. By applying eventstudy and t-test, it is proven that there are significant positive abnormal return one daybefore the announcement date and significant negative abnormal return five days afterthe date. This result shows that public has obtained information from the insider asgood news before the information is widely disseminated; therefore, they react bytransacting in the stock market. Nonetheless, when the offering period ends, marketparticipants react again and there is a market correction five days after theannouncement. This result confirms that there is a signalling effect of corporate bondsissuance on the stock market performance and indicates that stock market in Indonesiais inefficient.
Pengaruh Program Kepemilikan Saham Karyawan terhadap Kinerja Keuangan Perusahaan Publik di Indonesia Violia Elsha Melinda; Madeline Lestari; Sammy Kristamuljana; Rathria Arrina Rachman
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 1 (2019): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (448.078 KB) | DOI: 10.21632/saki.2.1.78-97

Abstract

Based on the Agency Theory, management (agent) is a party that is trusted by shareholders (principals) to manage the company and maximize shareholders’ value (Jensen and Meckling, 1976). In practice, conflicts between shareholders and managers are unavaidable because of differences in interests and information asymmetry called Agency Problem. One way to minimize agency problem is by applying Employee Stock Ownership Program (ESOP) which gives rights to company’s employees to own company’s share. Through ESOP, employees are expected to improve the performance and value of the company due to their stock ownership. The purpose of this study was to analyze the effect of the implementation of the ESOP program on company financial performance especially profitability as measured by ROE (Return on Equity) and ROA (Return on Assets). This study analyzes 62 listed companies in Indonesia adopting ESOP for the first time over 2009-2016. By using panel data regression method, the results of the study show that ESOP program has a significant negative effect on the profitability of the company.
Pengaruh Altman Z-Score Terhadap Realized Return Perusahaan Terbuka di Indonesia Andre Reinaldi; Devia Alvionita; Vebby Tjakranegara; Yane Chandera; Rathria Arrina Rachman
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.2.2.251-276

Abstract

This study aims to examine whether there is a relationship between Altman Z-Score (financial distress predictor) and realized return on company’s stock, and how much the influence of Altman Z-Score on the realized stock returns. One way to find out the company's financial condition is using the Altman Z"-score Modification method (Altman, 2002) which is applied in this research. The sample in this study is public companies that are listed on the Indonesia Stock Exchange during the period 2013-2017. This study finds that the company's Altman Z-Score has a positive effect on the realized stock market returns, which means that when a company approaches the condition of is getting closer to financial distress, the realized return on its shares is lower. This study is in line with previous research by Campbell et al. (2008), Dichev (1998), and Griffin and Lemmon (2002). This research is useful for investors for determining their investment strategy and for companies’ management for monitoring and maintaining the company's good financial condition. Keywords: Altman Z-Score, financial distress, stock market return, Indonesia https://doi.org/10.21632/saki.2.2.251-276
Determinants of Bank Profitability of Indonesian Banks Based on Core Capital Size in Category 3 And 4 Karen Santoso; Weindytha Patrizia Wibowo; Sammy Kristamuljana; Rathria Arrina Rachman
Studi Akuntansi dan Keuangan Indonesia Vol 3 No 1 (2020): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.3.1.100-119

Abstract

Since December 2012, the Central Bank of Indonesia has been grouping banks into four classes based on the size of core capital requirement, namely Buku 1, Buku 2, Buku 3 and Buku 4. These categories primarily determine the scope of banks’ business activities. This research aimed to identify the determinants of banks’ profitability in the Buku 3, Buku 4, and the combination of Buku 3 and Buku 4 categories. The data sample was 27 conventional commercial banks consisting of 23 banks from Buku 3 and 4 banks from Buku 4 listed on the Indonesia Stock Exchange (BEI) from 2009 to 2018. By applying multiple linear regressions to panel data, the results showed that net interest margin (NIM) positively affected profitability of the banks in Buku 3, Buku 4, as well as Buku 3 and Buku 4 category. Moreover, operating expense to operating income ratio (BOPO) and non-performing loan (NPL) negatively affected profitability of those banks. However, loan to deposit ratio (LDR) and capital adequacy ratio (CAR) was shown to have negative relationships with profitability only for banks in Buku 4. Accordingly, this study finds that banks in different sizes of core capital category have different factors affecting profitability in the Indonesian banking sector.
Pengaruh Pemberian Remunerasi Direksi Terhadap Kinerja Keuangan Perusahaan Publik di Indonesia Amadea Paulina Pangestu; Selly Agustia; Rathria Arrina Rachman
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 1 (2019): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.2.1.49-77

Abstract

This research was conducted to study the relationship between remuneration of directors and financial performance of companies in Indonesia. Based on the Agency Theory (Jensen and Meckling, 1976), remuneration given to directors will improve the company's financial performance because the provision of good remuneration will harmonize the interests of the principal (shareholders) and agents (company directors). This study uses a sample of 147 publicly-listed companies spread across 10 sectors and listed on the Indonesia Stock Exchange over 2013 to 2017. Using panel data regression methods with Generalized Least Squares (GLS),, the results of this study indicate that the remuneration of directors has a positive relationship to several financial performance indicators, namely Return On Assets (ROA) and Return On Equity (ROE, where the higher the remuneration given to directors will improve the company's financial performance. Thus, this results is consistent with the Agency Theory.
The Determinants of Financial Distress in Emerging Country: Empirical Evidence from Indonesia Rathria Arrina Rachman
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.7891

Abstract

This research strives to foresee corporate financial distress by applying three different perspectives that cover firms’ internal and external conditions namely accounting-based, market-based and macroeconomic models. Financially distressed and non-distressed corporations are analyzed using binomial logistic regression. Seven different models are employed to observe the effects of ten independent variables on financial distress, as well as to predict more accurately the possibility of firms defaulting. By exploring 257 public corporations listed on the Indonesia Stock Exchange over 10 years and utilizing 2,570 observations, the main finding suggests that when the accounting, market, and macroeconomic models are combined, it provides a better understanding of corporate failure than either model. Moreover, the results also indicate five factors that significantly determine the likelihood of a company’s financial distress: liquidity, profitability, asset productivity, market capitalization, and leverage. Accordingly, companies should keep a close watch on their accounting ratios and market indicators carefully to avoid bankruptcy. This research contributes to the finance and economic literature by paving the way for the development of an alternative perspective for predicting corporate failure in emerging markets.
FIVE FORCES ANALYSIS OF COFFEE BUSINESS INDUSTRY IN TEMANGGUNG REGENCY OF CENTRAL JAVA Muhammad Setiawan Kusmulyono; Rathria Arrina Rachman; Vania Pradipta Gunawan
JURNAL MANAJEMEN MAKER STIE SULTAN AGUNG Vol 9, No 1 (2023): Volume 9 Nomor 1 Tahun 2023
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/mjm.v9i1.545

Abstract

Coffee is a valuable commodity whose popularity is increasing and substantially contributes to economic growth. Coffee is an essential asset on a global scale, and the market has been continuously rising over the past 30 years. Temanggung, in Central Java, is one of the most well-known coffee-producing regions with a unique character. Temanggung is remarkable because it has two geographical indication certificates, Sindoro Sumbing Arabica, and Temanggung Robusta, and is the largest Arabica and Robusta coffee-producing area in Central Java. This study aimed to investigate the competitive landscape using Porter's Five Forces by applying qualitative research to the coffee business in Temanggung. The study's findings revealed that by understanding the capabilities of each force in the industry for each category of business actor and coffee bean type, stakeholders could gain unique knowledge about the coffee industry, particularly the problems throughout the value chain. This research is useful in assisting business actors and other stakeholders in making the best possible decisions. Finally, this research can assist central and local governments in efficiently promoting Indonesia's increasingly promising coffee sector in the future.
Pengaruh Digital Marketing terhadap Usaha Mikro Kecil Menengah Phoebe, Jane; Rivan Hadiwinoto, Roberto Amadeus; Marcellina, Rudya; Natanael, Wilbert; Aly Alfarisi, Naufal; Kho, Shiana; Libertus, Samuel; Roberto Justin, Theodore; Arrina Rachman, Rathria
Journal Pemberdayaan Masyarakat Indonesia Vol 4 No 1 (2022): Jurnal Pemberdayaan Masyarakat Indonesia (JPMI)
Publisher : Pusat Pengabdian kepada Masyarakat (PPKM) Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/jpmi.4.1.66-77

Abstract

The purpose of this paper is to describe the effects of digital marketing strategies that the group has used to assist Mr. Chandra, the owner of Pempek Cek Ya with growing his online presence in the social media space. According to the interview that we have done, there is a large amount of room for improvement in the digital marketing side of the business as we noticed that the business has not yet utilized their social media, advertisements, sales promotion, nor marketing mix to its maximum potential. This results in the business not having a good amount of brand awareness in its market. We have used a few digital marketing strategies which have successfully helped the business to increase their online presence, which we will discuss in this paper. Through this paper, we hope other Micro, Small and Medium Enterprises (MSME) may be able to increase their marketing efforts, and use the strategies that we have used to have a much better and improved brand awareness in their own markets.
Co-Authors Aly Alfarisi, Naufal Amadea Paulina Pangestu Andre Reinaldi Ang, Shania Angelica, Brigitta Christella, Jessy Christian Setjoadi, James Dahlia Ervina Devia Alvionita Edbert, Edbert Fonda Firdausa, Aura Gunawan, Desya Jocelyn, Anastasia Karen Santoso Kenzo, Rivaldo Kho, Shiana Libertus, Samuel Madeline Lestari Marcellina, Rudya Muhammad Setiawan Kusmulyono Natanael, Wilbert Phoebe, Jane Pratama Tjipto, Felix Pratama Tjipto Prayogo Choiss, Kevin Rivan Hadiwinoto, Roberto Amadeus Roberto Justin, Theodore Sammy Kristamuljana Selly Agustia Vania Pradipta Gunawan Vebby Tjakranegara Violia Elsha Melinda Weindytha Patrizia Wibowo Yane Chandera