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The effect of foreign ownership on stock return volatility, with government ownership as a moderator Nugroho Sasikirono; Mega Rizki Febriana; I made Sudana; Harlina Meidiaswati
Journal of Innovation in Business and Economics Vol. 4 No. 01 (2020): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v4i01.10177

Abstract

This research aims to determine the relationship between foreign institutional ownership and the stock return volatility, as well as the moderating effect of the state-owned enterprises on this relationship. This study uses two proxies of return volatility, namely total and idiosyncratic volatility. The research sample was determined by the purposive sampling method and analysis was conducted by OLS and moderated regression analysis. The number of samples in this study was 181 companies with 342 observations of data for the period 2014-2018. The analysis shows that share ownership by foreign institutional investors has a significant negative effect on the total and idiosyncratic return volatility. Ownership of shares by the government in state-owned enterprises has a moderating effect on such a relationship. The control variables of trading turnover and book-to-market ratio show a significant effect on volatility. Meanwhile, other control variables, which include ownership by domestic institutional and individual investors and free float ratio, do not show the effect on both total and idiosyncratic volatility. Robustness checks by quantile regression come into the same results. The results indicated the important role of foreign investors in the Indonesian capital market in providing market stability and thus stimulating investment climate.
Meningkatkan Manajemen Usaha Pengusaha Kue Kering dengan Mengoptimalkan Potensi Lokal di Kecamatan Kapas Kabupaten Bojonegoro Dewie Tri Wijayati Wardoyo; Harlina Meidiaswati; Trias Madanika Kusumaningrum; Nunik Dwi Kusumawati; Muhammad Rizky Ramadhan
J-ABDIPAMAS (Jurnal Pengabdian Kepada Masyarakat) Vol 7, No 2 (2023): Oktober 2023
Publisher : IKIP PGRI Bojonegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30734/j-abdipamas.v7i2.3515

Abstract

ABSTRACTCommunity service is the contribution of higher education institutions to optimize community potential through various empowerment programs, for example strengthening micro, small and medium enterprises (MSMEs). Snacks and pastries are a potential business in several villages in the Kapas District, Bojonegoro Regency. Entrepreneurs who produce cakes and snacks are constrained by increasingly fierce competition, encourage business partners to lower the selling price of their products in order to compete. The increase in raw material prices further reduced the profit margins of entrepreneurs. Through training and mentoring, entrepreneurs are guided to calculate production costs, record simple financial reports and determine the appropriate selling price. Entrepreneurs are given the insight to be more creative in utilizing the potential of their surroundings as raw materials for their products, such as moringa leaves and banana stems as snacks. The training also provides knowledge on how to read market opportunities and increase product value through attractive packaging to increase sales value. The development of Bojonegoro tourism can be a marketing door, especially for products that are characteristic of Bojonegoro, such as ledre bananas and processed snake fruit as well as snacks from various commodities in the Kapas District. The results of the activities show that partners are satisfied with the activities carried out. The value of knowledge related to business management and marketing increased as seen from the posttest score. Furthermore, partners want assistance regarding the use of the latest digital platforms as promotional media. Keywords: Business Management, MSMEs, Cookies and Snack, Kapas District,  ABSTRAKPengabdian kepada masyarakat merupakan kontribusi perguruan tinggi untuk mengoptimalkan potensi masyarakat melalui berbagai program pemberdayaan misalnya penguatan wirausaha mikro dan kecil dan menengah (UMKM). Jajanan dan kue kering merupakan salah satu usaha potensial di beberapa desa di Kecamatan Kapas Kabupaten Bojonegoro. Pengusaha produsen kue dan makanan ringan terkendala persaingan yang makin ketat yang mendorong mitra pengusaha menurunkan harga jual produknya agar dapat bersaing. Kenaikan harga bahan baku makin menurunkan keuntungan pengusaha. Melalui pelatihan dan pendampingan, pengusaha dibimbing melakukan perhitungan biaya produksi, mencatat laporan keuangan secara sederhana dan menentukan harga jual yang sesuai. Pengusaha diberikan wawasan agar lebih kreatif memanfaatkan potensi sekitar sebagai bahan baku produknya, seperti daun kelor dan batang pisang sebagai makanan ringan. Pelatihan juga membekali pengetahuan bagaimana membaca peluang pasar dan meningkatkan nilai produknya melalui kemasan yang menarik untuk meningkatkan nilai jual. Perkembangan pariwisata Bojonegoro dapat menjadi pintu pemasaran khususnya produk-produk yang menjadi ciri khas Bojonegoro seperti pisang ledre dan olahan salak serta makanan ringan dari berbagai komoditas yang ada di Kecamatan Kapas. Hasil kegiatan menunjukkan mitra pengusaha puas dengan kegiatan yang dilaksanakan. Nilai pengetahuan terkait manajemen bisnis dan pemasaran meningkat dilihat dari nilai posttest. Selanjutnnya mitra pengusaha menginginkan pendampingan tentang pemanfaatan berbagai platform digital terbaru sebagai media promosi. Kata Kunci: Manajemen Usaha, UMKM, Kue Kering, Kecamatan Kapas,
Pendampingan Digital Marketing Dalam Upaya Pengembangan Usaha Berbasis Teknologi Pada Sentra Wisata Kuliner Deles hariadi yutanto; Kadek Pranetha Prananjaya; Tatik Suryani; Dian Oktarina; Thomas Hanandry Dewanto; Harlina Meidiaswati
Jurnal Abadimas Adi Buana Vol 6 No 01 (2022): Jurnal Abadimas Adi Buana
Publisher : LPPM Universitas PGRI Adi Buana Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36456/abadimas.v6.i01.a6017

Abstract

Sentra Wisata Kuliner (SWK) Deles merupakan salah satu SWK yang merupakan binaan dari Pemerintah Kota Surabaya. SWK Deles berdiri sejak tahun 2015 dan berlokasi di Jalan Arief Rahman Hakim No.14, Keputih, Sukolilo, Kota Surabaya, Jawa Timur. Fasilitas yang dimiliki oleh SWK Deles terdapat kurang lebih 33 stand kios, toilet umum, mushola, tempat parkir, gazebo dan free wifi. Permasalahan yang terjadi adalah Lokasi dari SWK Deles sebenarnya sangat strategis dimana dekat dengan perkantoran dan tempat kuliah akan tetapi lokasi yang terlalu kedalam dari jalan sehingga para pengunjung akan kesusahan melihat keberadaan SWK Deles ini. Hal tersebut mengakibatkan berkurangnya pendapatan para pedagang di SWK Deles. Selain itu kondisi tersebut diperparah pada Masa Pandemi yang terjadi secara global. Kondisi ini membuat SWK ini terdampak sangat besar dalam sisi penjualan. Penghasilan yang di dapat oleh para pedagang malah semakin menurun. Dalam mengatasi permasalahan yang dihadapi oleh mitra tersebut, tim pelaksana melaksanakan (1) Pendampingan terkait HPP, Manajemen Keuangan, Manaemen Kewirausahaan dan Pendampingan Media Promosi Digital (2) meningkatkan penjualan mitra dengan menggunakan food delivery online platform.
Indikator Makro Ekonomi dan Pengaruhnya pada Indeks Saham Sektor Infrastruktur Indonesia Harlina Meidiaswati; Nunik Dwi Kusumawati
Journal of Infrastructure Policy and Management (JIPM) Vol. 6 No. 1 (2023): Journal of Infrastructure Policy and Management (JIPM)
Publisher : PT Penjaminan Infrastruktur Indonesia (Persero)

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This research examines the influence of macroeconomics as measured by exchange rates, interest rates and inflation on the movement of the Infrastructure industry stock indeX in Indonesia (IDXINFRA). This research uses secondary data: infrastructure industry sector stock index, Indonesian bank interest rates, inflation, and exchange rates taken monthly for an observation period from January 2020 to October 2023, resulting 34 data. Time series data analysis was carried out using a multiple linear regression approach. The test results show that partially, the exchange rate has a positive effect and interest rates have a negative effect, while inflation has no effect. Further research can be carried out by considering micro factors in addition to macro factors which are proven to influence the movement of the Infrastructure Industry Stock Indeks (IDXINFRA).
Financial Literacy, Financial Technology Literacy, and Capital Market Participation Nugroho Sasikirono; Harlina Meidiaswati; Nur Maulydia Rachman; Muhammad Madyan
Journal of Theoretical and Applied Management (Jurnal Manajemen Teori dan Terapan) Vol. 16 No. 3 (2023)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v16i3.49550

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Objective: This study aims to determine the effect of financial literacy and fintech literacy on capital market participation. It also examines the effects of individual characteristics (i.e., gender, age, student's allowances and income, parent's education, and parent's income) on financial and fintech literacy. Design/Methods/Approach: This study obtained 349 data from email and field surveys using purposive sampling. Data analysis was performed using OLS and path analysis. Findings: Results show that the level of student financial literacy is sufficiently literate, with a moderate level of fintech literacy but low capital market participation. The results also show financial and fintech literacy positively affects capital market participation. Financial literacy also exhibits indirect effects on capital market participation. Analysis of the determinants of literacy shows that gender, age, student allowances, and income have a significant positive effect on financial literacy and fintech literacy. We also find that parental education and income show a negative effect on fintech literacy. Originality/Value: This study is the first to examine the relationship between financial literacy, fintech literacy, and capital market participation in young adults in metropolitan cities in Indonesia. The results are expected to provide insight for the authorities of the monetary system and the capital market to develop strategies for the more intense involvement of young adults in the capital market. Practical/Policy implication: This study highlights the importance of educating students about financial and fintech literacy to increase their participation in the capital market. Decision-makers should focus on providing intense education on portfolio investment, risk and return, and investment instruments. Financial authorities should also collaborate with fintech operators and securities companies to promote capital market products through fintech and educate the public with more comprehensive information.
Efek Kinerja Lingkungan dan Kinerja Sosial Terhadap Kinerja Pasar Perusahaan di Indonesia Meidiaswati, Harlina; Madyan, Muhammad; Sasikirono, Nugroho
Jurnal Manajemen dan Kearifan Lokal Indonesia Vol 7 No 2 (2023)
Publisher : Asosiasi Peneliti Manajemen Adat Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26805/jmkli.v7i2.139

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This study examines the effect of environmental performance as measured by the PROPER award rating and social performance as measured by the corporate social responsibility (CSRI) disclosure index on the company's market performance as measured by the Tobin's Q ratio. The sample being used is 188 companies listed on the Indonesia Stock Exchange (IDX) for the period 2013-2016. OLS results show that the PROPER award has a positive effect on market performance. Companies that receive prestigious PROPER awards (blue, green or gold) show higher market performance. The test also shows the positive influence of social performance on market performance. Furthermore, social performance fully mediates the effect of environmental performance on market performance. Robustness check using quantile regression shows that social performance fully mediates the effect of environmental performance on firms with small and medium market performance (Q25 and Q50).
Analysis of Economic and Social Factors on Delayed Completion of Student Studies Kamalia, Putri Ulfa; Rachmawati, Lucky; Fahrullah, A’rasy; Permatasari, Ika; Meidiaswati, Harlina; Nugrohoseno, Dwiarko; Untarini, Nindria; Rohayati, Suci; Puspasari, Durinda; Kharisma, Fresha; Irawati, Winaika; Mnassri, Yasmine
International Journal of Emerging Research and Review Vol. 2 No. 4 (2024): December
Publisher : IKIP Widya Darma Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56707/ijoerar.v2i4.89

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Objective: This research refers to the purpose of student organizations that function as a means for students to develop intellectual abilities and skills, so student interest talent development activities as part of the educational process can be carried out through student organizations. This is important because honing skills through self-habituation and fulfilling the needs of life can form a balance between knowledge and skills as the basis of quality human resources in the development of the time. Method: It was carried out by analyzing the research model of the influence between student leadership training, including Pre-LKKMTD, LKKMTD, and LKKMTM on CLEI (measurement of higher education learning effectiveness inventory) in this measurement method. This procedure was used to test multiple regression research models. Results: It was stated that the participation of students in the leadership training of Pre-LKKMTD, LKKMTD, and LKKMTM students had a partial and simultaneous effect on student learning ability through the measurement of student learning ability effectiveness inventory (CLEI).  Novelty: in this study is to measure the impact of participation in the level of student leadership training on students' learning abilities by using a variety of six learning abilities, including self-efficacy, organization and attention to learning, stress control due to time and environmental pressures, involvement in college activities, emotional satisfaction, and communication in learning adapted from a research questionnaire called inventory higher learning effectiveness (CLEI).
Loan-to-Value Policy and Property Loans Risk in Conventional Commercial Banks of Indonesia Sasikirono, Nugroho; Sudana, I Made; Sumanto, Syelma; Meidiaswati, Harlina
International Research Journal of Business Studies Vol. 12 No. 3 (2019): December 2019-March 2020
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.12.3.267-276

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This study aims to determine the effect of loan-to-value (LTV) policy on bank’s property loan risk of Indonesia. This study utilizes a purposive sampling method and multiple linear regression analysis techniques. The number of samples in this study is 66 banks with 563 observations data. The results show that bank’s property loan risk, which is proxied by the NPL ratio of property loans, is lower in the LTV tightening policy period than the easing period. We utilize some control variables in this study: inflation, gross domestic product growth, property loan growth, and bank size. Inflation, property loan growth, and bank size have a significant positive effect on non-performing loans, while gross domestic product growth has a significant negative effect.
Pelatihan Start-Up Digital Melalui Digital Branding dan Desain Kemasan Visual Pada UKM di Pasar Tradisional Nilowati, Kelurahan Kraton, Kecamatan Maospati, Kabupaten Magetan Artanti, Yessy; Witjaksono, Andre Dwijanto; Sanaji; Hartono, Ulil; Meidiaswati, Harlina
Abdimas Awang Long Vol. 8 No. 1 (2025): Januari, Abdimas Awang Long
Publisher : Sekolah Tinggi Ilmu Hukum Awang Long

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56301/awal.v8i1.1414

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Revolusi Industri 4.0 menuntut pelaku usaha untuk mengikuti perkembangan teknologi guna tetap kompetitif, termasuk dalam hal perencanaan, pengelolaan, pemasaran, dan pelaporan. Tuntutan ini juga dirasakan oleh pedagang di Pasar Tradisional Nilowati, Kelurahan Kraton, Kecamatan Maospati, Kabupaten Magetan, yang memiliki keunikan penggunaan koin tempurung kelapa sebagai alat transaksi dan pakaian tradisional Jawa berupa kain lurik. Meskipun pasar ini dikenal luas berkat kegiatan branding yang telah dilakukan, pengelolaan branding sebagai sarana promosi produk unggulan dan pembangunan citra merek yang berkelanjutan masih terkendala oleh keterbatasan literasi teknologi, khususnya dalam digital branding dan desain kemasan. Program PKM ini bertujuan untuk memberikan solusi melalui pelatihan digital branding dan desain kemasan yang lebih aman dan menarik bagi para pedagang di pasar tersebut. Pelatihan digital branding difokuskan untuk meningkatkan minat masyarakat terhadap produk unggulan dengan memperkenalkan media sosial sebagai platform pemasaran, sementara pelatihan desain kemasan menekankan pada aspek kebersihan dan keamanan, sambil mempertahankan nilai tradisional kemasan. Kegiatan ini telah diikuti oleh 13 para pedagang makanan dan minuman yang berjualan di Pasar Nilowati. Kesemua peserta telah mendapatkan pelatihan mengenai digital branding dan desain kemasan. Dikarenakan bahwa pasar tradisional ini tetap mempertahakan keunikan kemasan tradisional sebagai nilai jual, maka pelatihan tentang kemasan lebih ditujukan agar kemasan tersebut lebih higienis. Sedangkan pelatihan tentang digital branding telah diberikan dengan memperkenalkan beberapa media sosial yang bisa dicoba oleh para pedagang dan melatih tahap demi tahap untuk bisa menginformasikan dan memasarkan produk-produk makanan dan minuman melalui media sosial tersebut. Target luaran program PKM ini adalah meningkatnya kemampuan mitra dalam memasarkan produknya secara online melalui media sosial sehingga bisa meningkatkan penjualan setiap harinya selain penjualan di hari minggu. Tujuan dan target luaran ini telah tercapai melalui pelatihan digital branding dan desain kemasasan visual yang menghasilkan produk-produk seperti desain logo usaha, pembuatan website bisnis, content marketing dan lain-lain.
PENGUNGKAPAN PRAKTIK SDM DAN KINERJA PASAR PERUSAHAAN Sasikirono, Nugroho; Kurniawan, Adimas Yahya; Julianti, Praptini; Meidiaswati, Harlina
Jurnal Ilmu Manajemen Vol. 12 No. 4 (2024)
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/jim.v12n4.p860-874

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This study aims to determine the effect of HRM practices on company market performance. HRM practice is proxied by the HRM Practice Disclosure Index (HRMPI). We utilise content analysis techniques to measure HRMPI. Tobin's Q. measures the company's market performance. We utilise purposive sampling, using multiple linear regression as the analysis method. The total sample size is 186 public companies listed on the Indonesia Stock Exchange (IDX) during 2014-2018, with 854 observations. The results show that HRM practice has a positive relationship with the company's market performance. The company's ability to implement HRM Practices has positive implications for the company's human capital. Companies with a higher HRMPI can better create a competitive advantage. This encourages the company's performance to be better and leads to an increase in the market value. Robustness checks using the dimensions of the HRM Practice Index, the alternative performance measures, and the endogeneity test bring consistent results.