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Effect Of Investment Decision, Capital Structure, Profitability, And Company Size On Company Values Reza Suleman; Sumani
Jurnal Ekonomi Vol. 26 No. 1 (2021): March 2021
Publisher : Fakultas Ekonom dan Bisnis, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/je.v26i1.732

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This study wanted to examine the effect of investment decisions, capital structure, profitability, and company size on the value of the firm, by using samples from the property, real estate, and construction companies listed on the Indonesia stock exchange for the period 2014-2017. Hypothesis testing using the panel data method by using Eviews version 9. The results of the study showed that the investment decision, capital structure, and profitability did not have a significant effect on firm value. In contrast, the size of the company has a significant adverse effect on the value of the firm. From the results of the F test, investment decision, capital structure, profitability, company size in this study simultaneously influence the value of the firm.
PENGARUH LIKUIDITAS, LEVERAGE DAN PROFITABILITAS TERHADAP FINANCIAL DISTRESS (Z-SCORE) PERUSAHAAN PROPERTY, REAL ESTATE, DAN MANUFAKTUR PERIODE 2014-2016 Eveline Kusuma; Sumani Sumani
Jurnal Manajemen Vol 14 No 1 (2017): Jurnal Manajemen
Publisher : Fakultas Ekonomi dan Bisnis Universitas Katolik Indonesia Atma Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (380.643 KB) | DOI: 10.25170/jm.v14i1.794

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This study aims to reexamine the influence of liquidity ratio, leverage ratio and profitability ratio on financial distress conducted on property, real estate and manufacturing companies listed on the Indonesia Stock Exchange period 2014-2016. This is because the property, real estate and manufacturing industries in the 2014-2016 period show symptoms of ups and downs as a result of economic movement in Indonesia. The research was conducted by measuring the level of financial distress formulated by Altman (1968) that is Z-score model, followed by calculating liquidity ratio represented by current ratio, leverage ratio represented by debt ratio and profitability ratio represented return on assets. Data processing using Eviews. The results obtained from this research is the ratio of leverage represented debt ratio, significantly have an effect to financial distress, while the other two ratios are not significant.
ANALISIS PENGARUH LIKUIDITAS, LEVERAGE, AKTIVITAS, PROFITABILITAS, DAN GROWTH TERHADAP KEBIJAKAN DIVIDEN EMITEN YANG TERDAFTAR PADA INDEKS LQ-45 PERIODE 2011-2013 Hengky Sulaiman; Sumani Sumani
Jurnal Manajemen Vol 13 No 2 (2016): Jurnal Manajemen
Publisher : Fakultas Ekonomi dan Bisnis Universitas Katolik Indonesia Atma Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (372.49 KB) | DOI: 10.25170/jm.v13i2.804

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Dividend is component of return that investor gain on stock investment. On other side, dividend policy ismajor cash outlay for the company. The research goal is to reveal the factor that significantly influence thedividend policy, which can be used to maximize the investor’s return and provides guidance for thecompany in determining dividend policy.The research used sixteen company listed on LQ-45 Indexes during 2011-2013 by using panel dataanalysis. The research shows that activity and growth significantly affect the dividend policy whileliquidity, leverage, and profitability insignificantly affect the dividend policy.
ANALISIS PENGARUH LIKUIDITAS, PROFITABILITAS, UKURAN, USIA DAN PERTUMBUHAN PERUSAHAAN TERHADAP STRUKTUR MODAL Michael Dimitri; Sumani Sumani
Jurnal Manajemen Vol 11 No 1 (2014): Jurnal Manajemen
Publisher : Fakultas Ekonomi dan Bisnis Universitas Katolik Indonesia Atma Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (340.494 KB) | DOI: 10.25170/jm.v11i1.834

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The Company Capital Structure plays an important role in the financing of a company. Planning a good capital structure is an important tool to understand since with the right decision of the appropriate capital structure, the company can reduce the cost of capital (cost of capital), which means to increase the value of the company. The author conducted a research to analyze the influence of several variables, namely liquidity, profitability, size, age and growth on capital structure. The data analyzed are generated from the companies in the list LQ 45 in IDX. The author uses multiple linear regression to analyze the data. The results shows that the variables of liquidity, profitability, size, age and growth of the company negatively affect the capital structure. Of these variables only variable of growth that has a significant at alpha level of 10%.
Pembentuk Word of Mouth pada Perusahaan Penerbangan Bertarif Murah di Indonesia Yasintha Soelasih; Sumani Sumani
MIX: JURNAL ILMIAH MANAJEMEN Vol 9, No 3 (2019): MIX: Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (190.941 KB) | DOI: 10.22441/mix.2019.v9i3.006

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ABSTRACT: The purpose of this study is to examine the mediating effect of passenger satisfaction on service quality, fares and word of mouth on low-cost flights in Indonesia. The theory of this study is derived into the research model with the instruments used in compiling the questionnaire for primary data collection. Samples taken as many as 248 with the criteria samples have used low-cost flights in Indonesia. Sampling was conducted at Soekarno Hatta Cengkareng Airport, Indonesia with purposive sampling at three low-cost airlines. Instrument testing is done using reliability and validity test. For reliability, it uses Cronbach's alpha while for validity it uses confirmatory factor analysis. In the hypothesis test used SEM with Lisrel. Service quality has a direct and indirect effect on word of mouth. While the tariff does not have a direct or indirect effect on word of mouth. Passenger satisfaction as mediation variable is important in forming word of mouth, compared without the mediation variable. Passengers still measure the quality of service received with perceived satisfaction. Therefore airlines with low-cost airlines still need to pay attention to passenger satisfaction, not just at relatively cheap fares. ABSTRAK: Tujuan penelitian ini untuk mengkaji pengaruh mediasi kepuasan penumpang terhadap kualitas pelayanan, tarif dan wouth of mouth pada penerbangan bertarif murah di Indonesia. Kajian teori yang diturunkan kedalam model penelitian dengan instrument yang digunakan dalam menyusun kuesioner untuk pengambilan data primer. Sampel yang terambil sebanyak 248 dengan kriteria sudah pernah menggunakan penerbangan bertarif murah di Indonesia. Pengambilan sampel dilakukan di Bandara Soekarno Hatta Cengkareng, Indonesia dengan purposive sampling pada tiga perusahaan penerbangan bertarif murah. Dilakukan uji instrument dengan menggunakan reliabilitas dan validitas. Untuk reliabilitas maka menggunakan cronbach’s alpha sedangkan untuk validitas menggunakan confirmatory factor analysis. Pada uji hipotesis digunakan SEM dengan Lisrel. Kualitas pelayanan mempunyai pengaruh baik langsung maupun tidak langsung terhadap word of mouth. Sedangkan tariff tidak mempunyai pengaruh baik langsung maupun tidak langsung terhadap word of mouth. Variabel mediasi kepuasan penumpang penting dalam membentuk word of mouth, dibandingkan tanpa adanya variable mediasi. Penumpang tetap mengukur kualitas pelayanan yang diterima dengan kepuasan yang dirasakan. Oleh karena itu perusahaan penerbangan dengan konsep penerbangan bertarif murah tetap perlu memperhatikan kepuasan penumpang, bukan hanya pada tarif yang relative murah.
Watch Your Neighbor: A Volatility Spillover in ASEAN-5 Stock Exchange sumani sumani; Siti Saadah
Binus Business Review Vol. 10 No. 1 (2019): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v10i1.5400

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In the process of financial markets integration, this research was conducted to investigate the phenomenon of the transmission of stock return volatility among stock market in five ASEAN countries. Those were Indonesia, Singapore, Malaysia, Philippines, and Thailand. The research was important because when the interdependence of financial markets had increased, changes in asset prices in the market were not only influenced by the shock in the market but also by its response to asset price volatility that occurred in other countries. Information about the volatility spillover between markets was important for investors to the portfolio selection process. Exponential Generalized Autoregressive Conditional Heteroskedasticity (EGARCH) method was used on a daily time series stock return data obtained by accessing www.bloomberg.com. The result indicates that the shock in Singapore, Malaysia, Thailand, and the Philippines stock market will be transmitted to the Indonesia Stock Market with an asymmetric pattern. It has increased intensity after the implementation of the ASEAN Economic Community in December 2015.
Customer Loyalty: The Difference between Full-Service Carriers and Low-Cost Carriers in Indonesia Yasintha Soelasih; Sumani Sumani
Binus Business Review Vol. 12 No. 1 (2021): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v12i1.6489

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The level of competition in the aviation industry has increased since the regulation change in 1999. Aviationcompanies in providing services can be divided into three categories: full service, medium service, and no-frillsservice. Both Full-Service Carriers (FSCs) and Low-Cost Carriers (LCCs) experience a high level of competition.The research aimed to look at the differences in customer loyalty on domestic FSCs and LCCs in Indonesia.The differences were shown from testing the effect of service quality on customer loyalty mediated by customersatisfaction and behavioral intention to use. Respondents were FSCs and LCCs passengers. Samples were takenby purposive sampling. There were 522 respondents for FSCs and 529 respondents for LCCs were observed bydistributing questionnaires. Then, the research tested the validity and reliability of the variables using ConfirmatoryFactor Analysis (CFA), Composite Reliability (CR), and Average Variance Extracted (AVE). Structural EquationModeling (SEM) was also applied to examine the hypothesis. The results show the formation of customerloyalty from service quality, customer satisfaction, and behavioral intention to use on FSCs and LCCs. The mostsignificant factor is the behavioral intention in forming customer loyalty in FSCs and LCCs. Meanwhile, customersatisfaction does not influence customer loyalty for FSCs and LCCs.
ANALISIS PENGARUH RISIKO SISTEMATIS DAN LIKUIDITAS TERHADAP TINGKAT PENGEMBALIAN SAHAM DALAM PERUSAHAAN NON-KEUANGAN LQ-45 PERIODE 2007-2009 Sumani .; Suhari .
Bina Ekonomi Vol. 17 No. 1 (2013)
Publisher : Center for Economic Studies Universitas Katolik Parahyangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (173.874 KB) | DOI: 10.26593/be.v17i1.804.%p

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This study aims to examine how the effect of systematic risk and liquidity on stock returns. In this study, researchers found that the systematic risk and liquidity influence stock returns of the shares. Researchers focused on non-financial companies listed in the LQ-45 index for the period 2007 to 2009. The method used is panel data and a sample of 11 non-financial firms. For statistical processing methods used least squares regression analysis. Researchers found that the the returns on shares of non financial companies listed in the LQ-45 index, are simultaneously affected by systematic risk and liquidity. Results of studies have shown that there is significant influence between systematic risk and the liquidity of the stock returns in the fixed effect models, but there are also other factors beyond the systematic risk and liquidity that also influence the rate of return on stocks.Key words: systematic risk, liquidity of shares, bid-ask spread, rate of return
PERILAKU INVESTOR DI PASAR MODAL INDONESIA Sumani Sumani; Christine Winstinindah Sandroto; Indah Mula
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 17 No 2 (2013)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2013.v17.i2.160

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Penelitian ini bertujuan untuk melakukan klasifikasi terhadap tipe investor individu di pasar modal Indonesia. Tujuan klasifikasi tersebut adalah, selain memberikan gambaran bagi perusahaan sekuritas tentang profil investor individu di pasar modal Indonesia, juga akan memberikan pengertian bagi investor individu tentang kebiasaan investasi mereka, sehingga bisa mendorong kebiasaan trading yang baik dan membuat investor memperoleh kinerja yang baik dari hasil investasi mereka. Dari profil investor tersebut, peneliti membuat petunjuk praktis yang memasukkan unsur Behavioral Finance ke dalam design alokasi aset yang sesuai dengan profil investor secara pribadi, sehingga lebih bermanfaat bagi kepentingan investor tersebut. Hasil penelitian ini menunjukkan bahwa investor individu di Indonesia cenderung bersifat irasional dalam berinvestasi, dimana mereka bisa digolongkan dalam dua kelompok besar. Kelompok pertama adalah kelompok confident big trader yang memiliki rasa percaya diri serta kontrol yang tinggi, serta nilai portfolio besar. Kelompok kedua adalah kelompok loss averse small trader yang memiliki rasa percaya diri serta kontrol yang tinggi, dengan nilai portfolio yang kecil.
ANALISIS STOCK SPLIT TERHADAP LIKUIDITAS SAHAM PERUSAHAAN Liany Christine Anggasta; Sumani Sumani
Prosiding Working Papers Series In Management Vol 10, No 2 (2018): Prosiding Working Papers Series In Management
Publisher : Prosiding Working Papers Series In Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (655.631 KB)

Abstract

Stock split is a corporate action carried out by companies that have gone public to rearrange stock prices so that transactions increase and companies become liquid.This study aims to determine the effect of stock split on stock liquidity as measured by the bid-ask spread variable and trading activity volume in companies listed on the Stock Exchange between 2015-2017. The sample used in this study amounted to 53 companies. The method used in this study is paired t-test for the variable bid-ask spread and Wilcoxon Sign Ranked Test for trading volume activity variables.The conclusion obtained from this study is that there is no significant difference in the bid-ask spread for 5 working days, whereas on 15 working days and 30 working days there is a significant difference. In addition, the trading volume activity variable for 5 working days, 15 working days and 30 working days is a difference between before and after stock split Keywords: stock split, bid-ask spread, trading volume activity, stock liquidity
Co-Authors Afandi, Mochammad Farid Ahmad Roziq AKTAVIA HERAWATI Ariel Jotham Luther Arika Indah Kristiana Azizah, Zakiyah Lina Nur Cempaka Paramita, Cempaka Christiana Fara Dharmastuti Christine Winstinindah Sandroto Dinda Larasati Dwi Priyo Ariyanto Ema Desia Prajitiasari Eveline Kusuma Fitriana, Ummi Nur Ganjar Herdiansyah, Ganjar Haqi, Roikha Nurul Hengky Sulaiman Ika Barokah Suryaningsih Indah Mula Intan Nurul Awwaliyah Irene Nathania Jaka Suyana Kartikasari, Dyah Kenneth, Sean Komariah Komariah Liany Christine Anggasta Lokaprasidha, Pramesi Mahdani, Sutheta Putra Maria Fransiska Markilah, Markilah Marmono Singgih Michael Dimitri Mujiyo Nugroho, Emanuel Yakobus Prasetyo NURDIN, DJAYANI Panca Wiputra Prasetya, Ignatius Bryan Priswita, Rahajeng Putu Widiani Putri, Rizky Atika Salsabila Ivabianca Ramadhan, Sandy Fajar Retno Rosariastuti Reynard Jonathan Reza Suleman Rilo Pambudi Rony, Zahara Tussoleha Sabda Risky Juliana Safira, Firjin Setyawati, Andriyana Siti Maro’ah Siti Saadah Sri Hartati Stevanus Pangestu Steven Lesmana Suhari . Surachman, Rinta Faradila Susanto, Arnis Budi Sutarno Sutarno Syahputri, Vika Synthia Madyakusumawati Tamara Letitia Limawan Theresia Dwinita Laksmidewi Uriel Kafka Lungguran Wahyuningsih, Unik Washil, Moh. Zadul Wenny Chandra Widhiyastuti, Alfia Nisa Widodo, Roni Wistinindah S, Christine Yasintha Soelasih Yohanes Arianto Budi Nugroho Yuanisyah, Risma Febrian Yudapratama, Ammar Firdausi Yuli Yanti Yulia Rahmawati, Yulia Zefanya, Okaria Nathalie