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All Journal Jurnal Manajemen dan Agribisnis JAM : Jurnal Aplikasi Manajemen Jurnal Bina Praja Jurnal Riset dan Inovasi Manajemen Jurnal Ekonomi, Akuntasi dan Manajemen Indonesia(JEAMI)
Adler H. Manurung
Unknown Affiliation
Agriculture, Biological Sciences & Forestry Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences

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ANALISIS KONTRAK BERJANGKA OLEIN DI BURSA BERJANGKA JAKARTA Andam Dewi; Hermanto Siregar; Sri Hartoyo; Adler H. Manurung
Jurnal Manajemen & Agribisnis Vol. 8 No. 1 (2011): Vol. 8 No. 1 Maret 2011
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (673.555 KB) | DOI: 10.17358/jma.8.1.1-9

Abstract

Study about efficient market hypothesis is a common object for many financial researchers. Nevertheless, there are still limited studies about futures contract market particularly in the emerging market. The purposes of this study were to test the weak form efficiency of the Olein futures contract in the Jakarta Futures Exchange and to seek factors that can affect the fluctuation of Olein futures contract price. ARIMA and GARCH models were used as the basis for the analyses. Results of the study indicated that using weekly data, the weak form efficient market (random walk) hypothesis was rejected for the Olein futures contract in the Jakarta Futures Exchange, meaning that the market was in efficient.This implies that some one will be able to outperform the market using technical analysis for predicting future price changes. Furthermore, using monthly data, the fluctuation of Olein futures contract returnis influenced significantly by interest rate, exchange rate and CPO price.   Keywords : Jakarta Futures Exchange, Efficient Market Hypothesis, ARIMA, GARCH
Emergence Corporate Financial Distressin Emerging Market: Empirical Evidence from Indonesia Stock Exchange(IDX) 2004-2008 Koes Pranowo; Noer Azam Achsani; Adler H. Manurung; Nunung Nuryartono
Jurnal Manajemen & Agribisnis Vol. 8 No. 2 (2011): Vol. 8 No. 2 Oktober 2011
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (314.317 KB) | DOI: 10.17358/jma.8.2.109-113

Abstract

Financial recovery is the most difficult in financial management. Therefore, this is important to study how a company in financially-distress can survive to rise up to a healthy financial condition (emergence financial distress). The research consists of 200 non financial companies which are listed on Indonesia Stock Exchange (IDX) for the period of 2004-2008. This study focuses on management of working capital. How a company fulfill its current liabilities, and its sources in current assets which shall be cashed at the short term period. By using Multinomial logit, we analyzed the probability a financially-distress company rise up to emergence financial distress or stay of the status of financial distress and what are financial indicators affect to a company in the status of Non Financial Distress tend to Financial Distress. Thus, the important thing is to determine financial ratios which can be an indicator to determine of emergence financial distress. We find a positive relationship between Profit, efficiency and emergence financial distress and a negative relationship between leverage and emergence financial distress.   Keywords: Emergence Financial Distress, Indonesia Stock Exchange (IDX), Multinomial Logit JEL Classification Codes: G 3
ANALISIS CORPORATE GOVERNANCE TERHADAP FINANCIAL DISTRESS MELALUI MEKANISME VARIABEL MODERASI DENGAN MANAJEMEN LABA Ade Onny Siagian; Adler H. Manurung; Nera Marinda Machdar
Jurnal Riset dan Inovasi Manajemen Vol. 1 No. 2 (2023): Mei : Jurnal Riset dan Inovasi Manajemen
Publisher : Universitas Katolik Widya Karya Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59581/jrim-widyakarya.v1i2.899

Abstract

The purpose of this study was to examine the effect of corporate governance mechanisms on financial distress with earnings management as a moderating variable. The population used consists of companies in the infrastructure, utility, and transportation sectors listed on the Indonesia Stock Exchange in 2020 – 2022. This study uses a causality study with purposive sampling and analyzed by logistic regression. The results of this study indicate that institutional ownership has a significant negative effect on financial distress, while the audit committee has no effect on financial distress. Earnings management as a moderating variable weakens the relationship between institutional ownership and financial distress but is not significant. Meanwhile, earnings management strengthens the relationship of the audit committee to financial distress but is not significant. The implication of this research is that companies need to increase the role and function of supervision and audit committees to minimize the risk of financial distress. Although earnings management is not able to moderate institutional ownership and audit committees, companies still need to improve supervision, especially on the financial reporting process to avoid the risk of financial distress.
Analisis Pengungkapan Modal Intelektual, Komisaris Independen, Direksi, Manajemen Risiko Perusahaan, dan Audit Komite terhadap Nilai Perusahaan Onny Siagian, Ade; Marinda Machdar, Nera; Manurung, Adler H.
Jurnal Ekonomi, Akuntasi dan manajemen Indonesia (JEAMI) Vol. 2 No. 01 (2023): Jurnal Ekonomi, Akuntasi dan Manajemen Indonesia (JEAMI), November 2023
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58471/jeami.v2i01.147

Abstract

Penelitian ini bertujuan membahas tentang Pengaruh pengungkapan modal intelektual, dewan komisaris independen, dewan direksi, pengungkapan manajemen risiko perusahaan, dan audit komite diuji terhadap nilai perusahaan yang diproksi menggunakan nilai buku dalam penelitian ini. Perusahaan-perusahaan di sektor properti, real estat, dan konstruksi bangunan diuji untuk 2019-2021. Sampel penelitian ini sebanyak 50 perusahaan dengan 150 observasi. Data tersebut diambil dari Bursa Efek Indonesia. Metode analisis data yang digunakan adalah model regresi berganda. Berdasarkan hipotesis bahwa pengungkapan modal intelektual, komisaris independen, pengungkapan manajemen risiko perusahaan, dan komite audit tidak berpengaruh signifikan terhadap nilai perusahaan sedangkan direksi memiliki pengaruh yang sangat signifikan terhadap nilai perusahaan.
Analisis Persaingan Bank, Risiko Kredit, dan Penetrasi Bank Asing dengan Bukti Empiris dari Indonesia Siagian, Ade Onny; Manurung, Adler H.; Machdar, Nera Marinda
Jurnal Ekonomi, Akuntasi dan manajemen Indonesia (JEAMI) Vol. 2 No. 01 (2023): Jurnal Ekonomi, Akuntasi dan Manajemen Indonesia (JEAMI), November 2023
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58471/jeami.v2i01.188

Abstract

Penelitian ini bertujuan untuk mengkaji hubungan antara persaingan bank dan risiko kredit dengan penetrasi bank asing sebagai variabel moderasi. Sampel penelitian yang digunakan adalah 78 bank umum yang terdaftar dalam Direktori Perbankan Indonesia yang diterbitkan oleh Otoritas Jasa Keuangan (OJK) periode 2017-2022 dengan total 353 observasi. Hasil penelitian ini menunjukkan bahwa semakin tinggi persaingan bank maka semakin tinggi risiko kredit bank tersebut sesuai dengan teori persaingan kerapuhan. Selanjutnya dari hasil Moderated Regression Analysis menunjukkan bahwa penetrasi bank asing belum mampu memoderasi hubungan persaingan bank dengan risiko kredit bank, namun jika berdiri sendiri sebagai variabel independen penetrasi bank asing akan mengurangi risiko kredit perbankan.
Faktor-Faktor Penentu yang Mempengaruhi Tarif Sewa dan Harga Jual Ruang Gedung Perkantoran di Jakarta Simon, Zainal Zawir; Achsani, Noer Azam; Manurung, Adler H.; Sembel, Roy
Jurnal Aplikasi Manajemen Vol. 13 No. 3 (2015)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/

Abstract

This paper empirically examines microeconomic factors that influence rental ratesand selling prices of office space. Quarterly time series data is used for the period of 1996:1to 2012:4. In addition, quantitative methods in the form of vector error correction model(VECM) are also used in this study. The result showed that there is a long term relationshipbetween microeconomic variables with the rental rate and selling price. IRF and FEVDshowed that rental rates and selling prices, in general, responded permanently to the shocksof microeconomic variables. Rental rate is predominantly influenced by rental rate followedby selling price, office space stock, construction cost and vacancy rate. Conversely, sellingprice is predominantly affected by rental rate followed by selling price, office space stock,construction cost and vacancy rate. Investors and developers can use the results of this studyas one of approaches for market analysis, especially office market analysis.
Capital Investment Behavior of Local Government in Regional Development Bank (BPD) in Indonesia Yusuf, M.; Hartoyo, Sri; Manurung, Adler H.; Temenggung, Yuswandi A.
Jurnal Bina Praja Vol 9 No 2 (2017)
Publisher : Research and Development Agency Ministry of Home Affairs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21787/jbp.09.2017.281-293

Abstract

Capital investment of local government or long-term regional investment is a form of government program and one of the tools of regulating the regional fiscal. Local government investment in the form of direct investment is the capital investment in business entities which aims to increase regional economic growth, increase regional income, and improve the welfare of the community. Regional capital investment is a decision-making behavior to invest or not to invest in business entities to obtain dividends. The behavior of decision making requires Information on bank performance, knowledge of banking governance, and shareholder agreements with bank directors. This study aims to analyze performance behavior and investment of provincial government that affects the profit of regional development banks in Indonesia. The method of analysis is done using descriptive statistic and multiple linear regression. Multiple Linear Regression with dependent variable of regional development bank profit and independent variable consist of Bank size (SIZE), business risk of BPD bank (RISK_Bt), Capital Adequacy Ratio (CAR), Operational Cost to Operating Income (BOPO), Return of Equity (ROE), Interest Rate of Bank (INTEREST), Provincial Capital Investment to Bank BPD (PMD), Regional Minimum Wage (UMR), Initial Public Offering Dummy (DIPO), and Bank Business Target Dummy (DSARBISB). The result of descriptive statistical analysis concluded that the capital investment of 26 provincial governments in 26 regional development banks describes the varying bank performance caused by different bank sizes. The results of multiple regression analysis can conclude that all independent variables are able to both explain the dependent variable at a significant level of level below 1%, as well as individually ten independent variables that are statistically significantly different with zero at levels below 1%, below 5%, and below 10%.
Co-Authors Ade Onny Siagian Andam Dewi Erliza Noor Hartoyo Hartoyo Hermanto Siregar Koes Pranowo M. Yusuf Marinda Machdar, Nera Nera Marinda Machdar Nunung Nuryartono Roy Sembel Sri Hartoyo Yuswandi A. Temenggung, Yuswandi A. Zainal Zawir Simon, Zainal Zawir