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All Journal Jurnal Manajemen Teori dan Terapan Jurnal Kajian Akuntansi EKSPANSI Syntax Literate: Jurnal Ilmiah Indonesia Journal of Economic, Bussines and Accounting (COSTING) JRB-Jurnal Riset Bisnis OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi) Abdimas Umtas : Jurnal Pengabdian kepada Masyarakat Jurnal Manajemen Inobis: Jurnal Inovasi Bisnis dan Manajemen Indonesia Coopetition : Jurnal Ilmiah Manajemen Studi Ilmu Manajemen dan Organisasi Reviu Akuntansi, Manajemen, dan Bisnis Journal of Management, Accounting, General Finance and International Economic Issues (MARGINAL) Portofolio: Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi Paradoks : Jurnal Ilmu Ekonomi Amkop Management Accounting Review (AMAR) Influence: International Journal of Science Review Jurnal Kompetensi Manajemen dan Organisasi, Bisnis & Pertahanan

Ferikawita M. Sembiring

Manajemen, Universitas Jenderal Achmad Yani

Author-ID : 3306611

Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Law, Crime, Criminology & Criminal Justice Public Health Social Sciences Other

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Analisis Capital Asset Pricing Model (CAPM) serta Model Multifaktor Fama dan French di Bursa Efek Indonesia Ferikawita Magdalena Sembiring; Esi Fitriani Komara
Jurnal Kajian Akuntansi Vol 4, No 2 (2020): DESEMBER 2020
Publisher : Universitas Swadaya Gunung Jati

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33603/jka.v4i2.3538

AbstractThe purposes of this study are to test and prove the ability of explaining Fama and French multifactor models and compare their performance with Capital Asset Pricing Model (CAPM) as the first of asset pricing model proposed by Sharpe. Data of non-financial stock prices and other relevant financial statement data for the period January 2009 - December 2016 are used in this study which has been formed into 40 portfolios, based on the previous researches. The research method used is the explanatory research method. The results are: (1) Both models, three factors and five factors, can explain the portfolio well, but the firm's size factor becomes redundant in the three-factor model while the investment factor becomes redundant in the five-factor model, (2) The five factor model become more good model compared to three-factor, where market risk, firm value, and company profitability consistently influence returns, and the effect is getting stronger in the five-factor model, (3) Market risk is not the only determinant, but is dominant in influencing returns fluctuation..Keywords: Beta; CAPM; Five factor model; Three factor model.Abstrak Tujuan penelitian ini adalah menguji dan membuktikan kemampuan menjelaskan model multifaktor Fama dan French serta membandingkan kinerjanya dengan Capital Asset Pricing Model (CAPM), sebagai model penilaian aset (asset pricing model) yang pertama kali diusulkan oleh Sharpe. Data-data berupa data harga saham non keuangan dan data laporan keuangan lain yang relevan selama periode Januari 2009 Desember 2016 digunakan, termasuk untuk membentuk 40 portofolio, berdasarkan hasil penelitian sebelumnya. Metode penelitian yang digunakan adalah metode explanatory research. Hasilnya adalah bahwa: (1) Kedua model, baik tiga faktor maupun lima faktor, dapat menjelaskan portofolio dengan baik, namun faktor ukuran perusahaan menjadi redundant dalam model tiga faktor sedangkan faktor investasi menjadi redundant dalam model lima faktor, (2) Lima faktor relatif menjadi model yang lebih baik dibandingkan dengan tiga faktor, di mana faktor risiko pasar, nilai perusahaan, dan profitabilitas perusahaan secara konsisten berpengaruh terhadap return, dan pengaruh tersebut ditemukan semakin kuat pada model lima faktor, (3) Faktor risiko pasar bukan satu-satunya faktor penentu return namun bersifat dominan dalam mempengaruhi fluktuasi return.Kata Kunci: Beta; CAPM; Model lima factor; Model tiga Faktor.

Analisis Kinerja Dan Potensi Pertumbuhan Return Portofolio Reksadana Saham Dan Reksadana Campuran Ferikawita M. Sembiring; Titianingsih Madjan Madjan
Jurnal Manajemen Teori dan Terapan | Journal of Theory and Applied Management Vol. 2 No. 2 (2009): Jurnal Manajemen Teori dan Terapan - Agustus 2009
Publisher : Universitas Airlangga

The purposes of this study are to analyze the performance of the stock mutual funds and composite mutual funds in Indonesia and to analyze the potency of the return growth of those mutual funds. This study used the monthly return (net asset value-NAV) of 7 stock mutual funds and 11 composite mutual funds, from January 2002 to December 2006*. The monthly composite index of the JSX is used as the proxy for market return. Jensen model is used as the tool to measure of the performance (indicated by Jensen alpha) and the potency of the return growth (indicated by beta). To get an accuracy of the analysis and to avoid bias beta problem, this beta has to be corrected with Fowler and Rorke model, adopted from Capital Asset Pricing Model (CAPM). The main results of this research explained that the performance and the potency of the return growth of the stock mutual funds are higher than the composite mutual funds, during the period of analysis.

Pengaruh Current Ratio dan Debt To Equity Ratio Terhadap Price To Book Value Dengan Return on Assets Sebagai Variabel Intervening (Studi pada Perusahaan Non Keuangan Kelompok Indeks LQ45 di Indonesia) Citra Pebri Sukmayanti; Ferikawita M. Sembiring
INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia Vol. 5 No. 2 (2022): INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia - Edisi Maret 2022
Publisher : Forum Inovasi Bisnis dan Manajemen

Penelitian ini bertujuan untuk mengetahui adanya signifikansi dari pengaruh likuiditas, solvabilitas, dan profitabilitas terhadap price to book value pada perusahaan non sektor keuangan yang terdaftar dalam indeks LQ45 di Bursa Efek Indonesia tahun 2016-2020, dalam penelitian ini menggunakan metode purposive sampling. Teknik analisis yang digunakan adalah teknik analisis jalur dengan pengolahan menggunakan Eviews 9. Hasil penelitian dapat menunjukkan bahwa current ratio berpengaruh positif terhadap return on assets, debt to equity ratio tidak berpengaruh terhadap return on assets, current ratio dan debt to equity ratio secara simultan berpengaruh terhadap return on assets, current ratio berpegaruh positif terhadap price to book value, debt to equity ratio berpengaruh negatif terhadap price to book value, return on assets berpegaruh positif terhadap price to book value, serta current ratio, debt to equity ratio dan return on assets secara simultan berpengaruh terhadap price to book value. Dalam penelitian ini juga menunjukan hasil bahwa return on assets dapat memediasi hubungan antara current ratio terhadap price to book value dan return on assets tidak dapat memediasi hubungan antara debt to equity ratio terhadap price to book value.

FAKTOR – FAKTOR YANG MEMPENGARUHI FINANCIAL DISTRESS (Studi pada beberapa Badan Usaha Milik Negara di Indonesia) Dwi Suci Annisa Yosandra; Ferikawita M Sembiring
Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan, dan Akuntansi Vol 14 No 1 (2022)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/ekspansi.v14i1.3629

The purpose of this research was to determine the effect of debt to equity ratio, fixed asset ratio, net profit margin, current ratio, and firm size on financial distress (Springate score) partially and simultaneously. This research uses secondary data, namely State-Owned Enterprises (BUMN) listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period. The sample of this research is 13 companies, with the method used is non-probability sampling with purposive sampling technique. The data analysis used is panel data regression analysis using software Eviews 12. The fixed effect model was selected through 2 tests of panel data regression model tests. The results of this research indicate that: (i) the fixed asset ratio has an effect positive effect on financial distress, (ii) net profit margin has a negative effect on financial distress, (iii) current ratio has a negative effect on financial distress. There are 2 independent variables that have no effect, including: (i) debt to equity ratio and (ii) firm size. All variables simultaneously affect financial distress.

PENGARUH CURRENT RATIO, DEBT TO EQUITY RATIO, RETURN ON EQUITY, PRICE EARNING RATIO DAN FIRM SIZE TERHADAP FIRM VALUE (STUDI PADA BEBERAPA BADAN USAHA MILIK NEGARA DI INDONESIA) Amanda Puspita Dewi Manda; Ferikawita M Sembiring
Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan, dan Akuntansi Vol 14 No 1 (2022)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/ekspansi.v14i1.3630

This study aims to determinate the effect of the current ratio, debt to equity ratio, return on equity, price earning ratio and firm size on firm value in Badan Usaha Milik Negara (BUMN) listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. The sample selection used purposive sampling technique and selected as many as 9 samples of companies from 20 populations of Badan Usaha Milik Negara (BUMN) companies. The data collection technique used is secondary data with data analysis technique is panel data regression analysis using Eviews 10 software and the best model is the fixed effect model (FEM). Based on the research results, partially current ratio, return on equity and price earning ratio have a positive effect on firm value, while partially debt to equity ratio and firm size does not affect on firm value. In addition, simultaneously current ratio, debt to equity ratio, return on equity, price earning ratio and firm size have an effect on firm value.

Pengaruh Likuiditas, Leverage dan Aktivitas terhadap Kondisi Financial Distress yang Dimoderasi oleh Profitabilitas: Studi pada Perusahaan Pertambangan yang Terdaftar di BEI Periode 2015-2019 Anita Permata Sari; Ferikawita M. Sembiring
Studi Ilmu Manajemen dan Organisasi Vol. 3 No. 1 (2022): April
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/simo.v3i1.857

Purpose: The aimed of this study was to found liquidity, leverage, and activity effect to financial distress moderated by profitability in mining companies listed on the IDX in the period 2015-2019, measured by the altman z-score model. Research methodology: Descriptive and associative methods are used as research methods. Sample of this study was 10 mining companies registered in the IDX in the period 2015-2019 obtained by purposive sampling method. The tool used is EViews 10 with panel data regression analysis techniques. Results: The results indicates that only liquidity and leverage had an effect on financial distress. Simultaneusly liquidity, leverage and activity also affect financial distress. Then, profitability is found to moderate the effect of liquidity on financial distress. Limitations: The limitations of the study are on the sample size and the period of research that allows to be added to future research, as well as the possible use of other financial distress measurement methods. Contribution: Produce findings on variables that can affect financial distress in mining companies by using profitability as a moderation variable.

Pengaruh Likuiditas, Leverage, Profitabilitas dan Ukuran Perusahaan terhadap Financial Distress: Studi Pada Perusahaan Sub Sektor Wholesale di BEI Periode Eka Oktaviani; Ferikawita M. Sembiring
Reviu Akuntansi, Manajemen, dan Bisnis Vol. 1 No. 2 (2021): Desember
Publisher : Penerbit Goodwood

Purpose: This study transfers to see if variables in financial risk and company size will affect financial distress condition of wholesale sub-sector companies on the IDX the 2014-2020 period. Research methodology: This research method is a quantitative that uses a descriptive and associative analysis with purposive sampling technique to acquire 9 wholesale sub-sector companies listed on the IDX for the period 2014-2020. The method of data analysis used is the data panel analysis. Results: The results showed that the variables of debt to asset ratio, debt to equity ratio, and return on asset had of effect on financial distress, while current ratio, return on equity and firm size had no effect. Simultaneously all variables affect the occurrence of financial distress. Limitation: The limitation of this study is on variable are still possible to be added or developed by other studies and also the possibility of using other financial distress measurement method. Contribution: Produce findings on factor that can affect financial distress conditions in wholesale (durable and non-durable goods) sub-sector companies listed on the IDX during the 2014-2020 period.

Analisis Current Ratio, Return on Assets, dan Ukuran Perusahaan, serta Pengaruhnya terhadap Nilai Perusahaan yang Dimediasi oleh Struktur Modal Risa Amelia; Ferikawita M. Sembiring
Coopetition : Jurnal Ilmiah Manajemen Vol. 14 No. 2 (2023): Coopetition : Jurnal Ilmiah Manajemen
Publisher : Program Studi Magister Manajemen, Institut Manajemen Koperasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32670/coopetition.v14i2.3102

The purpose of this study is to identify the infrastructure needs for Street Lighting Equipment (APJ), analyze financial performance Government Bandung Regency area, and the Government Cooperation with Business Entities (PPP) scheme in providing APJ infrastructure in Bandung Regency. The local government is only able to provide less than half of the funding. For this reason, it is necessary to look for other alternative sources of funding in funding its infrastructure needs. Through literature and policy/regulation studies, one of the alternatives that is expected to be an important model for providing infrastructure is the Public Private Partnership (PPP) scheme in which the private sector can participate in providing infrastructure starting from the aspects of funding, design, construction, operation, to maintenance. infrastructure based on cooperation agreements. To support this PPP program, the Government of Bandung Regency through the Ministry of Finance has provided fiscal facilities at each stage of the PPP project implementation for the provision of APJ infrastructure

Analisis Model Lima Faktor Fama dan French pada Saham-Saham Indeks LQ45 di Bursa Efek Indonesia Periode 2016-2019 Indah Dwi Yuliyana; Ferikawita Magdalena Sembiring
Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, dan Akuntansi Vol 18 No 2 (2021): Portofolio: Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Jenderal Achmad Yani

Abstract The purpose of this research is to know the effect of Fama-French five factor model on LQ45 Index at Indonesia Stock Exchange during the period 2016-2019 in explaining portfolio returns in Indonesia either partially or simultaneously. The population in this study is all stocks that are included in the LQ45 Index and listed on the Indonesia Stock Exchange (BEI) during the period 2016-2019, which amounted to 60 companies. The sampling technique used was purposive sampling method which resulted in 22 companies selected as the research sample. The research method is associative quantitative research using panel data regression. The research results partially are market factors, size (SMB), and value (HML) have a positive effect on excess returns. The profitability factor (RMW) has a negative effect on excess returns, and the investment factor (CMA) has not affect on excess portfolio returns. Simultaneously, the Fama-French five factor model can influence the excess returns. Abstrak Tujuan dari penelitian ini adalah untuk mengetahui pengaruh model lima faktor Fama dan French pada saham-saham Indeks LQ45 di Bursa Efek Indonesia periode 2016-2019 dalam menjelaskan return portofolio di Indonesia baik secara parsial maupun secara simultan. Populasi dalam penelitian ini adalah seluruh saham yang masuk ke dalam Indeks LQ45 dan tercatat di Bursa Efek Indonesia (BEI) periode 2016-2019 yang berjumlah sebanyak 60 perusahaan. Teknik sampling yang digunakan adalah metode purposive sampling yang menghasilkan 22 perusahaan yang terpilih menjadi sampel penelitian. Metode penelitian ini adalah penelitian kuantitatif asosiatif dengan menggunakan regresi data panel dalam pengolahan datanya. Hasil penelitian secara parsial yaitu faktor pasar, size (SMB), dan value (HML) berpengaruh positif terhadap excess return portofolio. Faktor profitabilitas (RMW) berpengaruh negatif terhadap excess return portofolio, dan faktor investasi (CMA) tidak berpengaruh terhadap excess return portofolio. Secara simultan kelima faktor Fama dan French berpengaruh terhadap excess return portofolio.

Pengaruh Debt to Equity Ratio, Return on Assets, Return on Equity, dan Ukuran Perusahaan terhadap Nilai Perusahaan pada Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019 Fania Maulinda Dewi; Ferikawita Magdalena Sembiring
Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, dan Akuntansi Vol 19 No 1 (2022): Portofolio: Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Jenderal Achmad Yani

Abstract This study aims to determine the effect of debt-to-equity ratio, return on assets, return on equity, and firm size on firm value in the food and beverage sub-sector listed on the Indonesia Stock Exchange for the 2015-2019 period. This research method uses quantitative research with descriptive and associative methods. The population in this study is the Food and Beverage Sub-Sector Companies Listed on the Indonesia Stock Exchange for the 2015-2019 period as many as 21 companies. The sampling technique used was purposive sampling, namely the technique of determining the sample with certain considerations, obtained from as many as 15 companies. The data analysis technique used in this study used panel data regression analysis. The results of this study indicate that the debt-to-equity ratio and return on assets have a negative effect on firm value, return on equity has a positive effect on firm value, and firm size has no effect on firm value. All variables in this study simultaneously affect the firm value. Abstrak Penelitian ini bertujuan untuk mengetahui pengaruh debt to equity ratio, return on assets, return on equity, dan ukuran perusahaan terhadap nilai perusahaan pada sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2015-2019. Metode penelitian ini memakai penelitian kuantitatif dengan metode deskriptif dan asosiatif. Populasi pada penelitian ini yaitu Perusahaan Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019 sebanyak 21 perusahaan. Teknik pengumpulan sampel dengan menggunakan purposive sampling yaitu teknik penentuan sampel dengan pertimbangan tertentu diperoleh sebanyak 15 perusahaan. Teknik analisis data yang digunakan dalam penelitian ini menggunakan analisis regresi data panel. Hasil penelitian ini menunjukkan bahwa debt to equity ratio dan return on assets berpengaruh negatif terhadap nilai perusahaan, return on equity berpengaruh positif terhadap nilai perusahaan, dan ukuran perusahaan tidak berpengaruh terhadap nilai perusahaan. Semua variabel dalam penelitian ini secara simultan berpengaruh terhadap nilai perusahaan.

Co-Authors Aisyah Nur Putri Amanda Puspita Dewi Manda Anita Permata Sari Atletica, Sellyanna Putri Citra Pebri Sukmayanti Dewi, Amanda Puspita Dwi Suci Annisa Yosandra Eka Oktaviani Esi Fitriani Komara Fania Maulinda Dewi Fitri Anggraeny Gunawan, Aldira Zulfa Hijriahni, Erni I Wayan Laba Indah Dwi Yuliyana Lukni Burhanuddin Meliyanti Moch Vrans Romi Mohammad Zainollah Muhamad Dzikri Pratama Akmaludin Nunung Aini Rahmah Rayhan Sengaji Risa Amelia Rusmana, Rizal Adriansyah Rusmana Sella Prasisca Sembiring, Zulkifer Simatupang, Frido Saritua Syaputra, Aditya Oktri Tiranda, Yan Paresae Titianingsih Madjan Madjan Trenadhi, Raffly Pasya Trisnia Manggiasih Veronika Santi Widiyoko Pambudi Yeschinta Bella Sinaga

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