Articles
Pengaruh Risiko Bisnis dan Ukuran Perusahaan Terhadap Struktur Modal dan Nilai Perusahaan
Mahfudzah Hidayati Rahmi;
Fifi Swandari
Jurnal Riset Inspirasi Manajemen dan Kewirausahaan Vol 5, No 1 (2021): JURNAL RISET INSPIRASI MANAJEMEN DAN KEWIRAUSAHAAN
Publisher : Sekolah Tinggi Ilmu Manajemen Indonesia (STIMI) Banjarmasin
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DOI: 10.35130/jrimk.v5i1.151
Penelitian ini bertujuan untuk menganalisis pengaruh risiko bisnis (X1) dan ukuran perusahaan (X2) terhadap nilai perusahaan (Y) dengan struktur modal (Z) sebagai variabel intervening pada perusahaan manufaktur yang terdatar di Bursa Efek Indonesia (BEI).Metode penelitian yang digunakan daam penelitian ini menggunakan analisis jalur (path analysis) untuk menganalisis pengaruh secara langsung maupun pengaruh secara tidak langsung. Populasi dalam penelitian ini adalah seluruh perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016-2018, dengan teknik pengambilan sampel menggunakan purposive sampling. Hipotesis penelitian ini di analisis menggunakan aplikasi SPSS dengan teknik analisis regresi linier berganda.Hasil penelitian menyimpulkan bahwa risiko bisnis tidak berpengaruh signifikan terhadap struktur modal. Ukuran perusahaan berpengaruh positif dan signifikan terhadap struktur modal. Risiko bisnis berpengaruh tidak signifikan terhadap nilai perusahaan. Ukuran perusahaan berpengaruh positif dan signifikan terhadap nilai perusahaan. Struktur modal berpengaruh positif dan signifikan terhadap nilai perusahaan. Risiko bisnis tidak berpengaruh signifikan terhadap nilai perusahaan melalui struktur modal. Ukuran perusahaan berpengaruh positif dan signifikan terhadap nilai perusahaan melalui struktur modal.Kata Kunci: risiko bisnis, ukuran perusahaan, struktur modal, nilai perusahaan.
Pengaruh Corporate Governance Perception Index Terhadap Kinerja perusahaan dalam Masa Krisis Ekonomi Global
Adi Suharna;
Fifi Swandari
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 1 No. 1 (2013)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v1i1.15
This research examines the influence of corporate governance toward corporate performance, in this case market performance and financial performance. The rating of corporate governance perception index (CGPI) for 2008 until 2010 by The Indonesian Institute for Corporate Governance is used to measure the corporate governance implementation and Tobin’s Q as a market performance measurement with Return on Equity (ROE) and Return on Assets (ROA) as financial performance measurement. The control variables used are leverage, age, type of industry and size of firm. This study is causal research which companies that scored CGPI and financial statement during 2008-2010 were drawn using purposive sampling method. Research data are pooling data which combines time series and cross sectional data during the observation period 2008-2010. This research employs a multiple regression to test hypothesis that corporate governance and corporate performance are positively related. From the first regression equation, the result of this study shows that there is influence between corporate governance perception index and market performance (Tobin’s Q) during crisis while the control variables have no effect on market performance unless leverage levels negatively affect the market performance of the company during the global economic crisis. The second regression equation shows that there is influence between corporate governance perception index and financial performance (ROE) during crisis while the control variables have no effect on financial performance (ROE). The third regression equation shows that there has no influence between corporate governance perception index (CGPI) and the control variables to financial performance (ROA) during the global economic crisis 2008-2010
PENGELOLAAN RETRIBUSI PARKIR YANG EFEKTIF DAN EFISIEN DI JL. SINGABANA DAN JL. AGUS SALIM KECAMATAN PULAU LAUT UTARA KABUPATEN KOTABARU
Eny Sri Harmeny;
Fifi Swandari;
Dian Masita Dewi
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 9 No. 1 (2021)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v9i1.30
This study aims to determine and analyze the effectiveness and efficiency parking retribution management on Singabana Street and Agus Salim Street, as well as the obstacles faced and strategies that should be taken by the Regional Government to increase retribution revenue in Kotabaru Districts. This research method uses quantitative descriptive with the primary data source is interviews with four respondents and the secondary data source is the revenue plan, revenue realization and costs incurred by the local government from 2015 to 2019 from the Transportation Office on Kotabaru Districts. Data analysis used ratio analysis with effective and efficient value interpretation and descriptive analysis. The results of the study state that parking retribution from 2015 to 2019 on Singabana Street and Agus Salim Street is less effective, but quite efficient. The obstacles faced are the limited staff for supervision, limited parking space and the difficulty of applying sanctions to both managers and illegal parking. The strategy taken is adding employees, coordinating with related parties, optimizing and increasing the number of parking spots, and imposing sanctions or rewards indiscriminately.
PENGARUH KURS, SUKU BUNGA SBI, LAJU INFLASI DAN HARGA EMAS TERHADAP INDEKS HARGA SAHAM PERTAMBANGAN
Basuki Setiyo Widodo;
Fifi Swandari;
Ali Sadikin
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 8 No. 1 (2020)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v8i1.48
The capital market can be an option for choice for the community to make investing. The Stock Price Index (IHS-Indeks Harga Saham) is a performance indicator that measures changes in prices of a market to know its performance. Many factors affect IHS, such as the state of the global economy, oil and gold prices, exchange and interest rates, inflation, and economic conditions of a country.During the observation period of 2015-2018, there was an increase and decrease phenomenon in the Stock Price Index of Mining (IHSP-Indeks Harga Saham Pertambangan) on the Indonesia Stock Exchange (BEI-Bursa Efek Indonesia), followed by other macroeconomic conditions. There are gaps in the results of previous studies in assessing this condition.This study is to analyse the effect of exchange rates, interest rates, inflation rates and gold prices on IHSP. This research is hoped to be useful as input for other researchers and information and consideration in investing in mining companies. The data in this research were monthly data from 2015 to 2018. Samples taken are all mining companies listed on the Stock Exchange during the study period, namely 49 companies. The data is analysed using multiple linear regression test. The results of the F test showed that the four independent variables simultaneously have a significant effect on IHSP.The exchange rate and the gold price had a significant positive effect on IHSP. The interest rate had a significant negative effect on IHSP, while inflation had a negative and not significant effect on IHSP.
PENGARUH FAKTOR FUNDAMENTAL MIKRODANMAKROEKONOMITERHADAPRETURNSAHAM
Muhammad Aditiya Anshari;
Fifi Swandari;
Ali Sadikin
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 7 No. 3 (2019)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v7i3.55
The purpose of this research is to analyze the fundamental factor of micro and macroeconomic whichare Return on Asset, Earning Per Share, Debt to Equity Ratio, inflation, rupiah exchange rate and interest rate of Bank Indonesia to stock return. This research used multiple linear regression analysis for the test. The populationis Consumer Goods Industry Company registered in Indonesian Stock Exchange in the period of 2013-2017 and they fulfilled the chosen sample criteria. Twenty three companies were used as sample. The data were collected by taking secondary data from annual report company in the period of 2013-2017 that were published at Indonesian Stock Exchange. The hypothesisof the research was tested by multiple linear regression. The results of the study with the coefficient of determination test (R2) concluded that the return of the consumer goods industry sector can be explained by the six independent variables of 9.6%. The F Test results in this study indicate that micro and macro economic variables (the rate of Return on Assets, Earning Per Share, Debt to Equity Ratio, inflation, rupiah exchange rate and interest rates of Bank Indonesia) as a whole have a signi fi cant effect. T test results The results of the analysis show that Earning Per Share and inflation affect stock returns. The Earning Per Share variable has a significance value of 0.038 smaller than 0.05. Then the inflation variable has a significance value of 0.020 smaller than 0.05. Whereas the other variables in this study are Return on Assets, Debt to Equity Ratio, rupiah exchange rate and Bank Indonesia interest rates that have no effect on stock returns.
PENGARUH PENGUNGKAPAN ISLAMIC SOCIAL REPORTING (ISR) TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL MODERATING
Iwan Setiawan;
Fifi Swandari;
Dian Masita Dewi
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 6 No. 2 (2018)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v6i2.86
This study aims to examine the influence of Islamic Social Reporting (ISR) disclosure on corporate value and the influence of financial performance in moderating the disclosure of Islamic Social Reporting (ISR) on corporate value through media annual report. This research is expected to increase the repertoire of science in the field of financial management, especially about the influence of Islamic social responsibility disclosure to corporate value and financial performance in moderating the influence of Islamic Social Reporting (ISR) on corporate value. This study was conducted on the annual report of 25 sharia issuers incorporated in the Jakarta Islamic Index (JII) during the period 2013-2016. Hypothesis testing used regression techniques with moderating variable. The results of this study indicate that Islamic Social Reporting (ISR) affect the corporate value. Listed Sharia issuers in the Jakarta Islamic Index (JII) are able to provide information on corporate social responsibility disclosure in annual report to increase stakeholders' trust in the sharia system applied in the company in order to increase the corporate value in the eyes of stakeholders, although none of the companies disclose information completely. Financial performance may not be able to moderate the influence of Islamic Social Reporting (ISR) on corporate value. It is alleged that Islamic Social Reporting (ISR) is able to moderate the influence of financial performance on the corporate value
PENGARUH FAKTOR-FAKTOR FUNDAMENTAL TERHADAP RETURN SAHAM PERUSAHAAN JASA TRANSPORTASI
Siska Septina;
Fifi Swandari
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 6 No. 1 (2018)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v6i1.93
This research as “Effect Fundamental Factors toward stock return of Transportation’s Company”. Aims analyzed fundamental factors to haven influence stock return of transportation company at Indonesia Stock Exchange (BEI). Fundamental factors such as Earning Per Share (EPS), Book Value Per Share (BVS), Price Earning Ratio (PER), Debt to Equity Ratio (DER), Return on Asset (ROA), and Return On Equity (ROE). Methodology research used purposed sampling with criteria as 1. Stock of Transportation company which listed fm th. 2009-2013. 2.Stocked was trade at Indonesian Stock Exchange (BEI). Sample totally 13 and data analysis with multiple regression of ordinary least square and hypothesis test used F statistics and t statistic at level significance 5%. Analysis result is fm totally 6 (six) of fundamental factors, only Price Earning Ratio (PER), Debt to Equity Ratio (DER) and Return on Asset (ROA) significance influance stock return of 13 (thirteen) transportation company at BEI, while others are not significance. The future result suggested to expand other fundamental factors and suggested to add more variabels so can get better result
PENGARUH KOMPONEN RGEC (RISK PROFILE, GOOD CORPORATE GOVERNANCE, EARNING, CAPITAL) TERHADAP RETURN SAHAM SEKTOR PERBANKAN Studi Pada Bursa Efek Indonesia
Yuliarti Rezeki;
Fifi Swandari;
Abdul Hadi
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 5 No. 3 (2017)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v5i3.97
The purpose of this research is to analyze the influence of RGEC Components ie Non Performing Loans, Interest Rate Risk, Loan To Deposit Ratio, Institutional Ownership, Proportion of Independent Commissioner, Audit Committee, Return on Asset, Net Interest Margin and Capital Adequacy Ratio to stock return. The analysis test used is multiple linear regression analysis. The population used by banking companies listed in Indonesia Stock Exchange period 2011-2015 period and which meet the criteria of sample selection. The sample used is 23 companies. Data are collected through secondary data collection in the form of company annual report for 2011-2015 period published in Indonesia Stock Exchange. The research hypothesis was tested by multiple linear regression that has met the classical assumption test. The result of analysis shows that Non Performing loan, Interest Rate Risk, Proportion of Independent Board of Commissioner, Net Interest Margin and Capital Adequacy Ratio have no significant effect on stock return while Loan To Deposit Ratio, Institutional Ownership, Audit Committee, and Return on Asset have significant effect to return stock.
PENGARUH PROFITABILITAS, PAJAK DAN GROWTH OPPORTUNITY TERHADAP NILAI PERUSAHAAN MELALUI STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING
Fajar Eka Prasetyo;
Fifi Swandari;
Dian Masita Dewi
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 5 No. 1 (2017)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v5i1.113
This study aims to analyze the direct effects on profitability, taxes and growth opportunity on firm value as well as the indirect influence for profitability, tax and growth opportunity to firm value through a capital structure oncompanies and mining companies listed in Indonesia Stock Exchange in 2011-2014 period. The results showed that (i) profitability and growth opportunity hada positive effect on the capital structure, (ii) taxes hada negative effect on the capital structure, (iii) profitability and capital structure hada positive effect on firm value, (iv) taxes and growth opportunity hadno effect on firm value, (v) profitability and growth opportunity affected firm value through a capital structure as an intervening variable.Multinational companies and mining companies in Indonesia Stock Exchange tried to use external funding to run their operations to shrink the tax paid in order to obtain large profits and to increase firm value.
KELAYAKAN USAHA BUDIDAYA RUMPUT LAUT EUCHEUMACOTTONII DENGAN METODE LONG LINE
Tarmaji Antowijoyo;
Yuliyanto;
RR. Yulianti Prihatiningrum;
Fifi Swandari
JWM (JURNAL WAWASAN MANAJEMEN) Vol. 5 No. 1 (2017)
Publisher : Universitas Lambung Mangkurat
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DOI: 10.20527/jwm.v5i1.115
The purpose of this study is twofold. First, assess the feasibility of seaweed cultivation. Second, identify the key internal and external factors affecting the cultivation of seaweed. The hope can be formulated business development strategy to be applied seaweed cultivators. The method used in this study is a research approach that is both quantitative and qualitative descriptive analysis to describe and analyze the prospects, potential and direction of development of seaweed cultivation. Data collection was conducted through a survey directly to businesses through the research questionnaire and also through interviews and discussion groups (Focus Group Discussion /FGD) with farmers. The results of the feasibility assessment methods NPV, Net Benefit Cost Ratio (Net B/C), IRR, Payback Period and BEP show that seaweed cultivation is feasible. SWOT assessment results show that the cultivation is in quadrant S-O (Strength-Opportunity), so that strategies can be done is Aggressive. This means that the powers that be should seek to take advantage of existing opportunities. Some do like: seaweed produces higher quality and made of processed seaweed products such as candy and dodol seaweed. The market for both types of products is relatively large. Some stakeholders can help farmers master the necessary skills.