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Pengaruh Keputusan Investasi, Kebijakan Dividen dan Struktur Modal terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Intervening Aisyah Nur Putri; Ferikawita Magdalena Sembiring
Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, dan Akuntansi Vol 19 No 2 (2022): Portofolio: Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Jenderal Achmad Yani

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26874/portofolio.v19i2.254

Abstract

Abstract The purpose of this study was to determine the direct impact of investment decisions, dividend policy, capital structure on enterprise value and the direct impact of investment decisions, dividend policy, capital structure on enterprise value through profitability (ROE) in the food and beverage-sector of the IDX listed companies for the period 2015-2019. A targeted sampling technique was used in collecting samples, and 13 companies were obtained as research samples. Descriptive analysis and multiple linear regression were used as analysis methods and then expanded to include path analysis. Based on the results of the study, the price-to-earnings ratio, the payout ratio and the debt-to-equity ratio influence the return on equity. The return on equity variable affects price-to-book, and price-to-earnings, dividend payout ratio, leverage ratio has no impact on price-to-book, and variable price-earnings ratio, dividend payout ratio, leverage, return-on-equity affect book value at the same time Abstrak Tujuan penelitian ini untuk mengetahui pengaruh langsung keputusan investasi, kebijakan dividen, struktur modal terhadap nilai perusahaan serta pengaruh langsung keputusan investasi, kebijakan dividen, struktur modal terhadap nilai perusahaan melalui profitabilitas (ROE) pada sub sektor makanan serta minuman perusahaan yang listing di BEI periode tahun 2015-2019. Teknik purposive sampling digunakan dalam pengumpulan sampel dan diperoleh 13 perusahaan sebagai sampel penelitian. Analisis deskriptif dipergunakan menjadi metode analisis, regresi linier berganda lalu diperluas menggunakan path analysis. Berdasarkan hasil penelitian bahwa price earning ratio, dividend payout ratio serta debt to equity ratio berpengaruh terhadap return on equity. Variabel return on equity berpengaruh terhadap price to book value, dan price earning ratio, dividend payout ratio, debt to equity ratio tidak berpengaruh terhadap price to book value dan variabel price earning ratio, dividend payout ratio, debt to equity rasio, pengembalian ekuitas secara bersamaan mempengaruhi harga terhadap nilai buku
How Well is the Implementation of CAPM in Condition of Market Anomaly? Case in Market Overreaction Anomaly at Indonesia Stock Exchange Ferikawita M. Sembiring
INFLUENCE: INTERNATIONAL JOURNAL OF SCIENCE REVIEW Vol. 4 No. 1 (2022): INFLUENCE: International Journal of Science Review
Publisher : Global Writing Academica Researching and Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54783/influencejournal.v4i1.14

Abstract

This study aims to test the occured of the market anomaly, iemarket overreactions in Indonesian stock market at the Covid-19 pandemic. If the event occurs then be tested whether a contrarian investment strategy is relevant to be implemented. It will also be tested whether the CAPM's market risk factor will affect the returns. The data from the Indonesia Stock Exchange (IDX) used are the stock price in periods of January 2019-December 2020, which during the pandemic were have the potential to be profitable or detrimental. Through the formation of the portfolios that called as as the winner and the losers, testing of returns reversals could be done to prove the occurs of the market overreaction. The results of this research are as follows: First, markets overreaction anomaly event has occured in Indonesian stock market in periods of Covid-19 pandemic. The reversal of return occurs for most shares those have the potential to be profitable or detrimental, or have been proven those it profits rates has increased or decreased in the periods of the pandemic. Second, the contrarian strategy is relevant to be implemented in the short term in Indonesian stock market, which is in this pandemic. By implementing the contrarian strategy, a profitable return is obtained from the difference between the returns of the losers and the winners through their each of observation period. Third, market risk factors based on the CAPM have a significant effect only for the losers stocks.
Pengaruh Peringkat Obligasi, ROA, DER, FIRM SIZE Terhadap Yield Obligasi Meliyanti; Ferikawita Sembiring
JRB-Jurnal Riset Bisnis Vol 4 No 2 (2021): April
Publisher : Fakultas Ekonomi Dan Bisnis Universitas Pancasila

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35814/jrb.v4i2.2088

Abstract

This study aims to determine the effect of bond ratings, return on assets (ROA), debt to equity ratio (DER), and firm size on yield to maturity (YTM) on several corporate bonds on the Indonesia Stock Exchange during the 2013-2018.The research method used is a quantitative research approach. The research method used was purposive sampling which resulted in 71 bonds from 29 firms as the samples. The results showed that bond ratings and DER had a negative effect on bond yields, while ROA and company size had no effect. This finding supports the findings of several previous studies which simultaneously strengthen the position of bond ratings and DER as determinants of yield. The results of the classical assumption test show that the model formed is free from classical problems so that it can be a good predictor of bond yields.
Analisis Financial Distress pada Perusahaan Tambang Batubara pada Tahun 2016 – 2022 dengan Struktur Modal Sebagai Variabel Intervening Muhamad Dzikri Pratama Akmaludin; Ferikawita M. Sembiring
Journal of Economic, Bussines and Accounting (COSTING) Vol 7 No 3 (2024): Journal of Economic, Bussines and Accounting (COSTING)
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v7i3.9577

Abstract

Purpose of this research is to examine whether the coal companies that registered at Indonesian Stock Exchange is under distress condition or notand also to analyze the factors that affecting it. Variables used in this research were Return on Asset (ROA), Current Ratio (CR), Total Asset Turnover (TATO) and Cash Flow Operation and Capital Structure respectively as Intervening Variable. The research concluded using 22 sample of coal companies that registered under Indonesian Stock Exchange. The result of this research yielded that Return on Asset, Current Ratio and Total Asset Turnover affecting Financial Distress. Total Asset Turnover affecting Capital Structure and Total Asset Turnover able to mediate the independent variable and its dependent variable thus and indirectly Current Ratio and Total Asset Turnover affecting Financial Distress through Capital Structure. Keywords: Financial Distress, Capital Structure, ROA, Current Ratio, Total Asset Turnover
ANALISIS MARKET OVERREACTION PADA SEKTOR PERBANKAN DI INDONESIA SELAMA PERIODE 2019 - 2021 Hijriahni, Erni; Ferikawita M. Sembiring
OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi Vol 8 No 1 (2023): OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi
Publisher : Fakultas Keguruan Dan Ilmu Pendidikan Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/oikos.v8i1.12316

Abstract

Penelitian ini bertujuan untuk mengetahui apakah telah terjadi market overreaction pada perusahaan yang tergabung dalam subsektor perbankan di Bursa Efek Indonesia (BEI) periode 2019-2021. Market overreaction merupakan reaksi berlebihan investor terhadap informasi yang diserapnya, baik atau buruk, dan dapat ditandai dengan pembalikan return pada portofolio pemenang dan portofolio yang kalah dan dapat diukur dengan abnormal return. Penelitian ini dilakukan dengan menggunakan sampel sebanyak 34 perusahaan yang tergabung dalam subsektor perbankan, dan mempunyai periode pengamatan yang terdiri dari periode pembentukan dan periode pengujian. Dalam penelitian ini menggunakan durasi 6 bulan dan diperoleh 5 periode observasi selama periode 2019-2021. Hasil pengujian dengan uji one sample t-test dan Paired sample t-test menunjukkan adanya hasil market overreaction yang signifikan pada sub sektor perbankan sehingga strategi contarian efektif diterapkan dan diterapkan oleh investor karena perbedaan ACAR losser-winner adalah positif. Kata Kunci: Pasar _ overreaction, pembalikan harga _ , strategi _ contarian.
Peningkatan Kinerja Babinsa ditinjau dari Kompetensi dan Pengembangan SDM Sembiring, Zulkifer; Sembiring, Ferikawita Magdalena
Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, dan Akuntansi Vol 21 No 1 (2024): Portofolio: Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Jenderal Achmad Yani

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26874/portofolio.v21i1.388

Abstract

Abstract The success of the territorial training tasks carried out was greatly influenced by the role of Babinsa as the lowest implementing element in the Kodim 1006/Banjar organization. The performance of Babinsa Kodim 1006/Banjar is not yet optimal, which is a challenge. The purpose of this study was to determine the effect of competency and HR development on Babinsa's performance. The samples used were 170 Babinsa with cluster random sampling technique which were randomly selected. The results of the research show that competence, HR development, and Babinsa's performance are in the sufficient category. The results of the data analysis show that competency and human resource development have a significant positive effect on Babinsa's performance, both partially and simultaneously. The existence of a significant positive influence on competence and HR development on performance indicates that it is necessary to analyze the needs for training and human resource development so that Babinsa has competencies relevant to duties and responsibilities. Therefore, the leadership of Kodim 1006/Banjar must plan and identify competency and human resource development in order to improve Babinsa's performance at Kodim 1006/Banjar. Abstrak Keberhasilan tugas pembinaan teritorial yang diselenggarakan sangat dipengaruhi oleh peran Babinsa sebagai unsur pelaksana terendah dalam organisasi Kodim 1006/Banjar. Belum optimalnya kinerja Babinsa Kodim 1006/Banjar menjadi sebuah tantangan. Tujuan penelitian ini untuk mengetahui pengaruh kompetensi dan pengembangan SDM terhadap kinerja Babinsa. Sampel yang digunakan sebanyak 170 Babinsa dengan teknik cluster random sampling yang dipilih secara acak. Hasil penelitian menunjukkan bahwa kompetensi, pengembangan SDM dan kinerja Babinsa dikategori cukup. Hasil analisis data menunjukkan bahwa kompetensi, dan pengembangan SDM berpengaruh positif signifikan terhadap kinerja Babinsa baik secara parsial maupun simultan. Adanya pengaruh positif signifikan kompetensi, dan pengembangan SDM terhadap kinerja menunjukkan bahwa perlu dilakukan analisis kebutuhan pelatihan dan pengembangan SDM agar Babinsa memiliki kompetensi yang relevan dengan tugas dan tanggung jawab. Maka dari itu, unsur pimpinan Kodim 1006/Banjar harus merencanakan dan mengidentifikasi kompetensi dan pengembangan SDM agar dapat meningkatkan kinerja Babinsa di Kodim 1006/Banjar.
REAKSI PASAR MODAL INDONESIA TERHADAP PELUNCURAN BURSA KARBON INDONESIA PADA 26 SEPTEMBER 2023: Indonesia Gunawan, Aldira Zulfa; Sembiring, Ferikawita M
OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi Vol 9 No 1 (2024): OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi
Publisher : Fakultas Keguruan Dan Ilmu Pendidikan Universitas Pasundan

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

Abstract

This research is an event study which aims to analyze the conditions and differences in abnormal returns, market capitalization, security return variability and stock volatility before and after the launch of the Indonesian Carbon Exchange on 26 September 2023 in the energy sector listed on the Indonesian Stock Exchange (BEI). The research method used is quatitative method. The sampling method is purposive sampling where there were 39 energy companies that were the research sample with the observation period used being 11 stock exchange days, which were processed using Microsoft Excel and SPSS 26. In this research, descriptive statistical test techniques were used, the normality test (Kolmogrov Smirnov test), reaction test (one sample Kolmogrov Smirnov), different test (Wilcoxon and paired sample t test). The results of this research show that there are abnormal returns around the launch of the Indonesian Carbon Exchange, there are significant differences in abnormal returns and market capitalization around the launch of the carbon exchange, but there is no difference in security return variability, stock volatility around the launch of the Indonesian Carbon Exchange.
Pengaruh Debt to Asset Ratio dan Debt to Equity Ratio Terhadap Financial Distress yang Dimoderasi Oleh Return on Equity Trenadhi, Raffly Pasya; Sembiring, Ferikawita Magdalena
OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi Vol 9 No 1 (2024): OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi
Publisher : Fakultas Keguruan Dan Ilmu Pendidikan Universitas Pasundan

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

Abstract

The purpose of this research is to explore the impact of Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER) on financial distress, considering the moderating variable, return on equity (ROE). The research methodology applies panel data regression analysis and moderated regression analysis using the EViews 12 program. The research sample is obtained through purposive sampling techniques, resulting in 6 samples of publicly listed state-owned construction companies. The findings indicate that DAR has a negative impact on financial distress, DER does not significantly affect financial distress, and ROE moderates the influence of DER on financial distress. Recommendations for companies include maintaining an optimal level of debt to ensure the financial health of the company and prevent financial distress.
PENGARUH CURRENT RATIO, DEBT TO EQUITY RATIO, RETURN ON ASSET TERHADAP RETURN SAHAM YANG DIMEDIASI OLEH NILAI PERUSAHAAN Syaputra, Aditya Oktri; Sembiring, Ferikawita M
Journal of Economic, Bussines and Accounting (COSTING) Vol 7 No 6 (2024): COSTING : Journal of Economic, Bussines and Accounting
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v7i6.12055

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), dan Return on Asset (ROA) terhadap Return Saham, dengan Nilai Perusahaan sebagai variabel mediasi. Menggunakan pendekatan kuantitatif dengan teknik analisis data melalui Structural Equation Modeling (SEM) menggunakan aplikasi SmartPLS, data diperoleh dari perusahaan-perusahaan yang terdaftar di Bursa Efek Indonesia. Hasil penelitian menunjukkan bahwa CR dan ROA memiliki pengaruh positif dan signifikan terhadap Nilai Perusahaan, yang kemudian berdampak positif terhadap Return Saham. Sebaliknya, DER ditemukan memiliki pengaruh negatif terhadap Nilai Perusahaan, yang pada akhirnya menurunkan Return Saham. Selain itu, penelitian ini menegaskan bahwa Nilai Perusahaan berperan sebagai mediator signifikan dalam hubungan antara CR, DER, ROA, dan Return Saham. Kesimpulannya, pengelolaan rasio keuangan yang efektif, khususnya CR, DER, dan ROA, dapat meningkatkan Nilai Perusahaan dan memberikan dampak positif pada Return Saham. Penelitian ini memberikan kontribusi bagi para praktisi keuangan dan manajemen dalam merumuskan strategi keuangan yang dapat memaksimalkan nilai perusahaan dan keuntungan bagi pemegang saham.
Pengaruh Good Corporate Governance Terhadap Return on Assets yang Dimediasi oleh Kinerja Lingkungan pada Industri Makanan dan Minuman yang Terdaftar di BEI Periode 2018-2023 Rayhan Sengaji; Sembiring, Ferikawita M.
Paradoks : Jurnal Ilmu Ekonomi Vol. 8 No. 1 (2025): November - Januari
Publisher : Fakultas Ekonomi, Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57178/paradoks.v8i1.1083

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh good corporate governance yang diproksi oleh kepemilikan manajerial, kepemilikan institusional dan komite audit terhadap return on assets yang dimediasi oleh kinerja lingkungan pada industri makanan dan minuman tahun 2018-2023. Penelitian ini menggunakan metode kuantitatif dengan pendekatan deskriptif dan asosiatif, melibatkan variabel eksogen (good corporate governance), endogen (return on asset), dan intervening (kinerja lingkungan/Proper). Populasi terdiri dari 95 perusahaan makanan dan minuman, dengan 7 perusahaan terpilih sebagai sampel melalui purposive sampling. Analisis data mencakup statistik deskriptif untuk menggambarkan data dan inferensial untuk menguji hubungan antarvariabel. Hasil penelitian menunjukkan kepemilikan manajerial berpengaruh terhadap ROA, sedangkan kepemilikan institusional dan komite audit tidak berpengaruh. Kinerja lingkungan memiliki pengaruh positif terhadap ROA, memediasi pengaruh kepemilikan manajerial dan institusional, meski mediasi komite audit lebih lemah. Secara keseluruhan, variabel kepemilikan manajerial, institusional, komite audit, dan kinerja lingkungan bersama-sama memengaruhi ROA dan kinerja lingkungan perusahaan.