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Journal : E-JRM

PENGARUH LIKUIDITAS LEVERAGE DAN PROFITABILITAS TERHADAP FINANCIAL DISTRESS PADA PERUSAHAAN TRANSPORTASI YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2011-2015 Maya Dewi Suprobo; Ronny Malavia Mardani; Budi Wahono
E-JRM : Elektronik Jurnal Riset Manajemen e-Jrm Vol. 06 No. 08 Agustus 2017
Publisher : UNIVERSITAS ISLAM MALANG

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Abstract This research purposed to analyze the effect of liquidity (current ratio), leverage (debt to asset ratio) and profitability (return on assets) to financial distress on transportation company listed in Indonesia Stock Exchange (IDX) 2011-2015. This research data used secondary data that getting from financial report of transportation company listed in Indonesia Stock Exchange (BEI). The total of sample 110 transportation company. The method of research is logistic regression with the program SPSS 14. The results of this research showed that regression coefficient of current ratio variable was -0,295; regression coeffisient of debt to asset ratio was 3,086 and; regression coefficient return on assets variabel was -1,988, it means liquidity ratio (current ratio) and profitability (return on assets) negatively affected to condition of company financial distress and leverage ratio positively affected to condition of company financial distress.Keywords: liquidity (current ratio), leverage (debt to asset ratio) profitability(return on asset), financial distress
PENGARUH FREE CASH FLOW, PROFITABILITAS, LIKUIDITAS DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2014-2016 Rawiyatul Hasana; Ronny Malavia Mardani; Budi Wahono
E-JRM : Elektronik Jurnal Riset Manajemen eJrm Vol. 7 No. 12 Agustus 2018
Publisher : UNIVERSITAS ISLAM MALANG

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ABSTRACTThere is always a conflict between shareholders and management within the company, namely in making decisions to distribute dividends to shareholders. It is necessary to pay attention to several factors that can influence the dividend distribution policy. Ratio analysis can be used as an alternative to test these factors. This study aims to determine how much factors Free Cash Flow (FCF), Profitability (ROI), Liquidity (CR), and Leverage (DER) affect the Dividend Policy (DPR). The sample in this study consisted of 12 food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2014-2016 period. The sample in this study uses purposive sampling method. The analytical tool used in this study is multiple linear regression. Based on the results of the study showed that the variable Free cash flow and profitability had a negative effect not significant on dividend policy, while liquidity and leverage had a significant positive effect on dividend policy. Keywords: Free Cash Flow, Profitability, Liquidity, Leverage and Dividend policy
PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN PROPERTI DI BURSA EFEK INDONESIA Rennia Sofi Dia Anugra Heni; Ronny Malavia Mardani; Budi Wahono
E-JRM : Elektronik Jurnal Riset Manajemen eJrm Vol. 08 No. 03 Agustus 2019
Publisher : UNIVERSITAS ISLAM MALANG

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ABSTRACTMaximizing enterprise value is one of the company's goals that can be achieved through the financial management functions. In this case, one financial decision will influence other financial decisions and have an impact on the enterprise value.  This study aims to measure the impact of investment decisions, funding decisions and dividend policies on property companies listed on the Indonesia Stock Exchange (IDX) for the period 2016-2018 with the selection of samples using purposive sampling technique. Based on several tests on 57 samples obtained, by using normality test, autocorrelation test, heteroskidasticity test and multiple linear regression test, concluded that investment decisions and funding decisions have a significant positive effect on the enterprise value. While the dividend policy has a negative effect that is not significant on the enterprise value.
PENGARUH KEPUTUSAN INVESTASI DAN KEPUTUSAN PENDANAAN TERHADAP NILAI PERUSAHAAN (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015-2017) Erin Mastura; Ronny Malavia Mardani; Budi Wahono
E-JRM : Elektronik Jurnal Riset Manajemen eJrm Vol. 8 No. 20 Agustus 2019
Publisher : UNIVERSITAS ISLAM MALANG

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ABSTRACTThe purpose of this research is to know the influence of investment decisions and funding decisions on the company's value in the manufacturing company sub-sector of food and beverage listed on the Indonesia Stock Exchange in 2015-2017, which is as much as 18 companies. Selection of samples using purposive sampling where samples were taken based on certain criteria, thus obtained as many as 16 food and beverage manufacturing companies listed on the Indonesia Stock Exchange in 2015-2017. The data analysis techniques in this study used the normality test, classic assumption test, multiple linear regression tests and hypotheses testing. Measuring instrument used to measure investment decision is Price Earning Ratio (PER), for funding decision is Debt to Equity Ratio (DER), and for company value is Price to book value (PBV). The results of this study show that the investment decisions positively and significantly affect the value of the company and the funding decisions are negatively and insignificant to the value of the company. Keywords: investment decisions, funding decisions, and corporate values
Analisis Rasio Keuangan Terhadap Financial Distress (Pada Perusahaan Perbankan Yang Listing Di BEI Periode Tahun 2014-2016) Nilna Izza Amalia; Ronny Malavia Mardani
E-JRM : Elektronik Jurnal Riset Manajemen ejrm Vol. 7 No. 9 Agustus 2018
Publisher : UNIVERSITAS ISLAM MALANG

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ABSTRACTThis research aims to determine the influence of financial ratios to financial distress on banking companies listing on the BEI period 2014-2016. As for variable used in this research that is variable CAR (Capital Adequacy Ratio), NPL (Non Performing Loan), ROA (Return On Asset), ROE (Return On Equity), LDR (Loan to Deposit Ratio) and BOPO (Operating Expenses to Operating Income. In this research using logistic regression test with the result variable CAR, ROE and LDR have a negative influence on financial distress, while the variables NPL, ROA, and BOPO have a positive influence. In this test are obtained value of chi-square of 9,807 with a significant level of 0,279.Keywords: Financial Ratios, Financial Distress, Logistic Regression
ANALISIS PERPUTARAN PIUTANG PADA PT WOM (WAHANA OTTOMITRA MULIARTHA) tbk FINANCE DI BLITAR Gandung Fitra Pambudi; Ronny Malavia Mardani; Budi Wahono
E-JRM : Elektronik Jurnal Riset Manajemen eJrm Vol. 8 No. 20 Agustus 2019
Publisher : UNIVERSITAS ISLAM MALANG

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 This study aims to analyze how much the level of accounts receivable turnover at PT WOM (Wahana Ottomitra Multiartha) Finance Division Blitar in the period April - June 2019. The method of data collection in this study uses library research and field research . This type of research is quantitative descriptive, namely the results of this study are numerical data (numbers), after which it is processed and analyzed for conclusions.The analytical method used for testing accounts receivable in this study uses the receivable turn over (RTO) method, which aims to measure the liquidity and activity of the company's receivables. Average collection period (ACP), which aims to measure the average collection time for sales. The arrears ratio, which aims to find out how much the receivables are due and not yet collected from the number of credit sales made. Billing ratio, which aims to find out how much receivables are collected from the total receivables owned by the company.The results of this study indicate that the accounts receivable turnover rate of PT WOM (Wahana Ottomitra Multiartha) Finance Division of Blitar in April amounted to 15.3 times, May 13.7 times and June 13.1 times which is very good can still be in the set average. that is 15 times, so billing by the company is considered good and successful. The average collection of accounts receivable from the company in April was 24 days, May 26 days and June as many as 28 days. The collection period of this company's receivables is quite good, which is less than the company's average of 48 days, so it can be said that the company is very capable of handling billing on time even before maturity. The arrears ratio of companies experienced ups and downs which in April amounted to 14%, May 15% and June only 10%. Where the highest arrears are found in May which can harm the company because the funds should be able to turn back in fixed cash that is embedded in accounts receivable. The cause of the arrears in May was due to the fact that the month coincided with the month of Ramadan and Idul Fitri as well as the number of National holidays and leave for the month. The billing ratio experienced instability which in April was 86%, May 85% and June 90%. Actually the company is able to collect accounts receivable well, it would be good in certain months the company must find a solution so as not to decrease the billing ratio and have to find solutions and ideas so that the following month the billing ratio increases.Keywords: Receivable Turn Over (RTO), Average Collection Period (ACP), Arrears Ratio, Billing Ratio.
Determinan Struktur Modal Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia Sub Sektor Makanan dan Minuman) Diajeng Kusuma Wardani; Ronny Malavia Mardani; Achmad Agus Priyono
E-JRM : Elektronik Jurnal Riset Manajemen eJrm Vol. 09 No. 08 Februari 2020
Publisher : UNIVERSITAS ISLAM MALANG

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AbstractThis study aims to determine the direct effect of liquidity, profitability, company size on firm value. Knowing the direct effect of liquidity, profitability, company size on capital structure. Knowing the indirect effect of liquidity, profitability, company size on firm value through capital structure as an intervening variable on Manufacturing companies listed on the Indonesia Stock Exchange Food and Beverage sub-sector. The population of this study is 26 food and beverage companies that have been listed on the IDX. While the samples in this study were 19 companies.The results showed that liquidity had no significant effect on firm value. Profitability has a significant effect on firm value. While the size of the company has a significant effect on firm value. Liquidity has a significant influence on capital structure. Profitability has no significant effect on capital structure. The size of the company has no significant effect on capital structure. Capital structure has no significant effect on firm value. Determinant of capital structure on firm value in Manufacturing companies listed on the Indonesia Stock Exchange Food and Beverage sub-sector is liquidity while profitability and firm size are not determinants of capital structure in Manufacturing companies listed on the Indonesia Stock Exchange in Food and Beverage sub-sector in 2016-2018.Keywords: liquidity, profitability, company size, capital structure, company value.
PENGUJIAN FAMA FRENCH THREE FACTOR MODEL’S DALAM MEMPENGARUHI RETURN SAHAM STUDI KASUS PADA SAHAM LQ-45 YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2015-2016 Nur Mahfudh Febriansyah; Ronny Malavia Mardani; Ahmad Agus Priyono
E-JRM : Elektronik Jurnal Riset Manajemen eJrm Vol. 7 No. 14 Agustus 2018
Publisher : UNIVERSITAS ISLAM MALANG

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ABSTRACT The purpose of this study was to examine the Fama French Three Factor Model’s that is market return, firm size, and book to market ratio on stock return’s on the companies belonging to the group LQ-45. The population in this study are all companies belonging to the group LQ-45 from 2015-2016 year, totaling 51 companies. The sample used as many as 51 sample’s and which meet the requirements of as many as 40 companies. The sampling technique in this study by using purposive sampling technique, while the method of data analysis in this study using multiple linier regression analysis. Results from this study provide empirical evidence that the market return, firm size, and book to market ratio have a significant effect on stock returns. Market return have a positive and significant effect on stock returns. Firm size have a positive but not significant effect on stock returns. Book to market ratio have a positive but not significant effect on stock returns.       Keywords: firm size, book to market ratio, returns
ANALISIS PENGARUH KINERJA KEUANGAN TERHADAP KEMAMPUAN ZAKAT PADA BANK SYARIAH (Studi Kasus Pada Bank Syariah Tahun 2012-2015) Siti Masula; Ronny Malavia Mardani; Budi Wahono
E-JRM : Elektronik Jurnal Riset Manajemen Jurnal Ilmiah Riset Manajemen (EJRM) Vol 6. No. 1 Juni 2017
Publisher : UNIVERSITAS ISLAM MALANG

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ABSTRACTThis research aims to determine the effect of the financial performance ofthe ability of zakat. Population in this research were syariah banking companywhich listed in Bank Indonesia (BI) period 2012-2015. The sample in thisresearch were fiveteen companies using purposive sampling method. The analysisusing multiplelinear regression analysis technique, quality data test, andhypothesis test. Data processing use IBM SPSS (Statistical Product and ServiceSolution) program, Statistic 24 version. The results in this research showed thatfinancial performance (ROE, CR and DER) to effect of the ability of zakat. Theresults of regression showed that Adjusted R Square of 0,227, the meant the effectindependent variable of dependent variable was 22,7% and 77,3% was effect byother variables that not included in the this research.Key Words—Financial Performance, Zakat, ROE, CR, DER
PERBANDINGAN PENERAPAN MODEL CAPITAL ASSET PRICING MODEL (CAPM) DAN ARBITRAGE PRICING THEORY (APT) DALAM MEMPREDIKSI RETURN SAHAM (STUDI PADA PERUSAHAAN SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BEI PERIODE 2016-2017) Deasy Dwi Komaini; Ronny Malavia Mardani; Budi Wahono
E-JRM : Elektronik Jurnal Riset Manajemen eJrm Vol. 8 No. 18 Agustus 2019
Publisher : UNIVERSITAS ISLAM MALANG

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ABSTRACTThis study is to determination the difference in accuracy between the CAPM and APT models in predicting stock returns in the company. This type of research uses a quantitative approach using descriptive comparative methods. The data used is secondary data, obtained by documentation techniques, namely by searching and collecting annual report data and shares obtained from the website. The population that is the object of this research is the Consumer Goods Industry Sector Company listed on the Indonesia Stock Exchange in the period 2016-2017, which is as many as 42 companies. The sample selection used purposive sampling technique, so that 37 companies were obtained.The data analysis technique in this study uses the CAPM (Capital Asset Pricing Model), APT (Arbitrage Pricing Theory), and MAD (Mean Absolute Deviation) models. Measuring tool used to measure accuracy in predicting these stocks by looking for actual Returns, Return Market, Beta values (Risk), Expected Return, and comparing them with MAD (Mean Absolute Deviation)The results of data analysis show that: Based on the calculations of MADCAPM and MADAPT, that the CAPM method is better and more accurate than the APT model in predicting the return of shares of the Industrial Consumer Goods Industry Sector.Keywords : CAPM,APT, Return Actual, Expected Return, Saham, MAD
Co-Authors Abd. Wafi Abdul Majid Abdul Majid Abdullah Syakur Novianto Abidin, Zeinal ABS, M Khoirul Ach Taufiqur Rohman Achmad Agus Priyono Adnan Abdul Khobir Afi Rachmat Slamet Agus Salim Agus Salim Ahmad Rifai Ainun Ulumiah Nursa Aisyah, Widya Nur Al- mar’atus Sholikhah Aleria Irma Hatneny Alfian Budi Primanto Alif Adi Prasetyawan Alifia Nuraini Alitakupenda, Dwitaria Alvin Hidayatullah Amanah, Firnandya Amelia Monica Ningrum Amin, Muhammad Sirojuddin Aminatun Nasukha Aminatuz Zuhriyah Aminuyati Amiril Mustofa Ana Indriyani Ana Roikhatul Zannah Anak Agung Gede Sugianthara Anan, Nurun Nadiva Salsabila Andi Normaladewi Anggraeni, Dwi Adela Anggraini, Tasya Meylina Ari Anita Laelatul Khomsatun Any Tafriha Ferriyanti Aprilianto Aprilianto Aprillia Nur Choiriah Arini Fitria Mustapita Arsyianto, M. Tody Asih Masita Asmiyati Atapuka Auliyah Palupi Putri Indra Sari Ayu Trisnawati Ayu Yossita Candra Octaviana Ayu Yulita Putri Ayunani, Sabrina Azizah, Nur Rosyda Dhiya’ul Azizah, Umul Balqish, Alya Tamara Basalamah , Muhammad Ridwan Bastomi, Mohamad Bastomi, Mohammad Bayu, Juli Adriano Budi Wahono Celmia Celmia Chika Deva Ciptadi Cicik Marianti Citra Damayani Prayogiyanto Citra Nurul Hidayati Danang Laksono Deasy Dwi Komaini Deby Nofianti Pratiwi DEVI TRIANINGSIH Dewi Cahya Putri Dewi Nurhidayah Diah Wahyuning Tyas Diajeng Kusuma Wardani Dian Aulia Fitri Dian Savitri Dinda Nur Afifah Distha Anggrainingrum Dwi Agustina Ega Aditya Eka Indah Wahyu Eka Wahyu Ningrum Ekiq Arifaturini Elfina Rahmania Elysa Anggun Fradini Endah Setya Rahayu Erin Mastura Erindia Cember Eris Dianawati Esti Dewi Purwati Etty Saraswati Eva Susanti Eva Zulaikha Fahimatuz Zainul Laila Fahma Lintang Nabila Fahmi Faizal Izmy Fahrurrozi Rahman Fairoh Aida Qothrun Nada Fajjar Mustofa Farah Zairina Faris Fardani FATIMAH FATIMAH Fatimatuz Zahro Fatmawati, Yenni Diah Fatus All Anati Fauziyatul Uffah Fayi’ Hilmy Musyafiq Febbyola, Risa Febriani, Rezki Febi Filzah Gaissani Fina Hikmatul Insaniyah Fiona Putri Dyah Pancari Fita Dwi Hariyati Fitri Anggriani Fitriani, Nur Afika Gandung Fitra Pambudi Griselda Putri Vania Florence Hafidzul Ulum Halimah, Faridatul Hanik Latifah Helma Rizqikah Amir Hendra Bagus Yulipratama Himmatussuhra Himmatussuhra Ida Ardila Syafitri Rumain Iin Cahyaningsih Ike Nur Wahyuni Ike Wulandari Ilham Wahyudiarso Indah Handayani Indah Ramadhani Irma Lina Fadila Husna Putri Isa Agid Wibisana Ita Athia Izhatul Ulia Izzatin Nayli Jannah, Shofiratul Josi Eka Ariyani Kasprianti, Rista Puji Khalikussabir, Khalikussabir Khoirul Anam Khurrotun Nisa’ Krismala Fadrila Kuswatun Hasanah Lailatus Sofiah Laksono, Felicia Averina Laurensia Laras Noviyanti Larisa Dea Chatira Lestari, Siswi Muji Lika Handayani Liskan Kirana Lufi Khomsiatin Nulhaniya Lujeng Indra Prayugi Lukluatul Fadillah M Agus Salim M, Tiara Nur M. Agus Salim M. Fakhry Iskhaq M. Farchan Fuadi M. Hufron M. Khoirul Anwarodin Broto S M. Syaifudin Zuhri M. Umar Izzul Chaq Manis Syahedeh Mar’ah Qonitatillah Masriyani Masriyani Maya Dewi Suprobo Millaningtyas, Restu Mitra Kartini Moch Kukuh Widyatmoko Mochamad Yuhdi Atoillah Mochammad Handika Setiawan Moh Hairul Anam Moh Lutf Moh Sofiyanto Mohamad Fathanudin Abas Mohammad Arif Efendi Mohammad Faisol Efendi Mohammad Rizal Muallifa Muallifa Mudrikah Mudrikah Muhammad Adam Yusuf MUHAMMAD AGUS SALIM Muhlis Muhlis Mursalina Mursalina Nadirotul Hasanah Nanda Diah Ayu Nurmindasari Naning Adindah Putri Nela Rahayuni Neni Elfina Ngatiningsih, Tuti Khoiriyah Nifta Asfidza Alma Nihayah Saefil Ikhsan Nike Anggita Prima Nilna Izza Amalia Nindi Aulia Riadi Nindy Wulandari Ningrum, Niken Widya Nining Tsamratul Hasanah Nizam, Muhammad Sahrun Noer Fadhilah Rahman Nor Laili Roudotul Janah Nova Istiqomah Nova Suci Indrawati Nur Aniseh Nur Haslinda Nur Kamilah Nur Mahfudh Febriansyah Nuratul Amaliah Nurfarida Nurfarida Nurhidayah Nurhidayah Nurhidayah Nurhidayah Nurhidayah Nurul Afifah Fasbiyanti Nurul Khoirini Nuryanita Rusiah Oktaningrum, Indarti Indah Olla Fathimatuz Zahro Permata Irmin Seriyarini Pipit Larasati Pratista, Ilham Pratiwi, Cantika Puspa Puguh Roni Prastowo Putra, Arif Rahman Surya Putri Ayu Khoriah Putri Dinda Erika Rachman, Fahmia Nur Fitria Rahmawati Rahmawati Ramadhan, Tri Sugiarti Raras Nur Fitiah Ratna Tri Hardaningtyas, Ratna Tri Rawiyatul Hasana Reni Evaluki Rennia Sofi Dia Anugra Heni Rico Adi Suwardianto Rifa Ariana Ningtyas Rif’atul Himmah Rif’atul Inayati Rina Wulan Novianti Risa Dewi Yanti Aceh Risna Faulia Rita Lia Novita Rizalatul Isa Rizka Nur Fittriana Rizky Adhyvian Rohma, Hindun Miftakhur Rosmah Sholichah Rovita Tri Rezeki Safitri Safitri Saiful Anwari Salsabillah, Via Amelya Saraswati, Ety Sembiring, Rinawati Septi Ning Tyas Septia Anggi Saputri Shafaratin Nurul Hasanah Shela Karlina Devi Shilvie Damayanti Lestari Shofi Eka Khairunnisa Silvia Sahara Sindi Ristanti Sinta Mayyukha Sintia Ifadatul Aulia Fatra Sintia Novita Sari Siti Kusmawati Siti Masula Siti Nur Laelatul Rohmah Siti Sara Ilham Siti Suhaebah Siti Uswatun Khasanah SOFIYULLAH SOFIYULLAH Sovi Devianita Sari Sri Puspa Nurhayati Sulton Sholehuddin, Sulton SUTRA Aji NINGTYAS Syamsiar, Syamsiar Teddy Kurnia Dwi Anggoro Kusumo D Therito Akbar Firmansyah Ubaid Choiri Ubaidullah Ubaidullah Uswatun Khusnah Vachriyanti, Asma’ul Noer Veni Rikusita Vika Septirini Viqi Hendro Fahtoni Vivi Noviyanti Wahdah Lutfiana Arinta Wahyudi Kurniawan Weni Afrilliansyah Winda Irawati Wiwin Rafida Wajapa Yahsyallah Yenniria Nurhaidah Yeritama, Risma Yogi Adetya Kurniawan Yudi Purnomo Yulitasari Mila Dewi Zahro, Handini Nur Chameli Atuz Zahrotun Nisa Zainul Fikri Zidan, Moh Izzad Kamal Zila Nurdila Hafidzah Zulkarnain Zulkarnain