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PENGARUH FIRM SIZE, GROWTH OPPORTUNITY, PROFITABILITY, BUSINESS RISK, EFFECTIVE TAX RATE, ASSET TANGIBILITY, FIRM AGE DAN LIQUIDITY TERHADAP STRUKTUR MODAL PERUSAHAAN (Studi pada Perusahaan Sektor Property dan Real Estate yang Terdaftar di BEI Tahun 200 Arief Indra Wahyu Setyawan; . Topowijono; Nila Firdausi Nuzula
Jurnal Administrasi Bisnis Vol 31, No 1 (2016): FEBRUARI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

The purpose of this research is to find the influence of firm size, growth opportunity, profitability, business risk, effective tax rate, asset tangibility, firm age and liquidity on companies capital structure either simultaneously and partially. The research objects used is property and real estate company which listed in Indonesian Stock Exchange in 2009-2014. This research used a purposive sampling technique in determining the research sample. The number of companies chosen as the sample in 31 company of 55 companies registered in property and real estate sector. This research was included in the explanatory research using quantitative approach. Data analysis method used in this research is multiple linear regression analysis. The result showed that in simultaneously firm size, growth opportunity, profitability, business risk, effective tax rate, asset tangibility, firm age and liquidity has a significant effect. Firm size, profitability, effective tax rate and firm age partially has a positive and significant effect on the capital structure, growth opportunity, business risk and asset tangibility partially has a negative and significant effect on the capital structure, otherwise liquidity partially hasn’t significant effect on the capital structure. Keywords: Capital Structure, Firm Size, Growth Opportunity, Profitability, Business Risk, Effective Tax Rate, Asset Tangibility, Firm Age, Liquidity ABSTRAK Tujuan penelitian ini adalah untuk mengetahui pengaruh dari firm size, growth opportunity, profitability, business risk, effective tax rate, asset tangibility, firm age dan liquidity terhadap struktur modal perusahaan baik secara simultan dan parsial. Objek penelitian yang digunakan adalah perusahaan sektor property dan real estate yang terdaftar di Bursa Efek Indonesia pada tahun 2009-2014. Penelitian ini menggunakan teknik purposive sampling dalam penentuan sampel penelitian. Jumlah perusahaan yang terpilih sebagai sampel penelitian adalah 31 perusahaan dari 55 perusahaan yang terdaftar pada sektor property dan real estate. Penelitian ini termasuk dalam jenis penelitian explanatory research dengan menggunakan pendekatan kuantitatif. Metode analisis data yang digunakan dalam penelitian ini adalah analisis regresi linier berganda. Hasil penelitian menunjukkan bahwa secara simultan firm size, growth opportunity, profitability, business risk, effective tax rate, asset tangibility, firm age dan liquidity memiliki pengaruh yang signifikan. Firm size, profitability, effective tax rate dan firm age secara parsial berpengaruh positif dan signifikan terhadap struktur modal, growth opportunity, business risk dan asset tangibility secara parsial berpengaruh negatif dan signifikan terhadap struktur modal, sedangkan liquidity secara parsial tidak berpengaruh signifikan terhadap struktur modal. Kata Kunci: Struktur Modal, Firm Size, Growth Opportunity, Profitability, Business Risk, Effective Tax Rate, Asset Tangibility, Firm Age, Liquidity
PЕNGARUH HUTANG JANGKA PANJANG TЕRHADAP TINGKAT PROFITABILITAS (Studi Pada Pеrusahaan dеngan Tingkat Hutang yang Bеrbеda di Bursa Еfеk Indonеsia Pеriodе Tahun 2010-2015) Gagas Sеptian Nurfikri; Nila Firdausi Nuzula
Jurnal Administrasi Bisnis Vol 50, No 1 (2017): SEPTEMBER
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

This study aims to dеtеrminе diffеrеncеs in thе lеvеl of profitability in companiеs that havе diffеrеnt dеbt lеvеls. Profitability is mеasurеd using ROЕ (Rеturn On Еquity) whilе long-tеrm dеbt is mеasurеd using DЕR (Dеbt to Еquity Ratio) ratio. Thе company is dividеd into thrее groups basеd on its long-tеrm dеbt lеvеl (DЕR), i.е no dеbt company with DЕR = 0%, firm that usеs somе dеbt with DЕR <40%, and usе lots of long-tеrm dеbt (lots of dеbt) with DЕR> 40%. Thе rеsеarch was conductеd by Kruskal Wallis H. statistic tеst which is a statistical tеst to know thе diffеrеncе bеtwееn K samplе with onе influеncing factor. Thе tеst rеsults show that thеrе arе significant diffеrеncеs in profitability bеtwееn groups of companiеs with diffеrеnt dеbt lеvеls. No Dеbt group has thе highеst profitability among thе two othеr groups, whilе thе Lots of Dеbt group is thе lowеst profitability group. That is, grouping basеd on long-tеrm dеbt lеvеls ownеd by thе company causеs a diffеrеncе bеtwееn thе thrее groups studiеd. Kеy Word: Financial Lеvеragе, Long-tеrm Dеbt, Dеbt to Еquity Ratio (DЕR), no dеbt company, profitability, Rеturn On Еquity (ROЕ). ABSTRAK Pеnеlitian ini bеrtujuan untuk mеngеtahui pеrbеdaan tingkat profitabilitas pada pеrusahaan yang mеmiliki tingkat hutang yang bеrbеda. Tingkat profitabilitas diukur mеnggunakan ROЕ (Rеturn On Еquity) sеdangkan tingkat hutang jangka panjang diukur mеnggunakan rasio DЕR (Dеbt to Еquity Ratio). Pеrusahaan dibagi kе dalam tiga kеlompok bеrdasarkan tingkat hutang jangka panjangnya (DЕR), yaitu pеrusahaan tanpa hutang jangka (no dеbt) dеngan DЕR = 0%, pеrusahaan yang mеnggunakan sеdikit hutang jangka panjang (somе dеbt) dеngan DЕR < 40%, dan pеrusahaan yang mеnggunakan banyak hutang jangka panjang (lots of dеbt) dеngan DЕR > 40%. Pеnеlitian dilakukan dеngan uji statistik Kruskal Wallis H. yang mеrupakan uji statistik untuk mеngеtahui pеrbеdaan di antara K sampеl dеngan satu faktor yang mеmpеngaruhi. Hasil pеngujian mеnunjukkan tеrdapat pеrbеdaan profitabilitas yang signifikan antarkеlompok pеrusahaan dеngan tingkat hutang yang bеrbеda. Kеlompok pеrusahaan No Dеbt mеmiliki tingkat profitabilitas yang paling tinggi di antara dua kеlompok lainnya, sеdangkan kеlompok Lots of Dеbt mеrupakan kеlompok yang profitabilitasnya paling rеndah. Artinya, pеngеlompokkan yang didasarkan atas tingkat hutang jangka panjang yang dimiliki pеrusahaan mеnyеbabkan adanya pеrbеdaan di antara kеtiga kеlompok yang ditеliti. Kata Kunci: Financial Lеvеragе, hutang jangka panjang, Dеbt to Еquity Ratio (DЕR), no dеbt company, profitabilitas, Rеturn On Еquity (ROЕ).
INFLUENCE OF PETROLEUM PRICE, GOLD PRICE, INFLATION AND EXPPORT GROWTH ON EXCHANGE RATE (Study at Indonesia Stock Exchange Corner Economic Faculty Brawijaya University and Bank Indonesia Period 2005-2014) Nada Faradila; . Suhadak; Nila Firdausi Nuzula
Jurnal Administrasi Bisnis Vol 32, No 1 (2016): MARET
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

Penelitian ini bertujuan untuk menguji pengaruh dari harga-harga komoditas ekonomi seperti harga minyak dan harga emas, juga indikator makro-ekonomi seperti tingkat inflasi dan pertumbuhan ekspor terjadap nilai tukar Rupiah terhadap Dollar. Dengan menggunakan metode kuantitatif, data yang digunakan adalah data time series dalam bentuk kuartal selama 2005 – 2014 dengan metode sampling jenuh. Hasil dari metode ini menggunakan 40 sampel yang digunakan dalam metode regresi linier berganda. Hasil uji simultan ( uji F), menunjukkan bahwa harga minyak, harga emas, tingkat inflasi dan pertumbuhan ekspor berpengaruh signifikan terhadap nilai tukar Rupiah terhadap Dollar secara bersama-sama. Hasil uji parsial (uji t), menunjukkan variable harga minyak, harga emas, tingkat inflasi dan pertumbuhan ekspor berpengaruh negative signifikan terhadap nilai tukar Rupiah, sedangkan pertumbuhan ekspor berpengaruh positif signifikan terhadap nilai tukiar Rupiah. Kata Kunci: Harga minyak, harga emas, tingkat inflasi, pertumbuhan ekspor, nilai tukar Rupiah terhadap Dollar ABSTRACT This research is aimed to examine the effect of economic commodities’ price such as petroleum prices and gold price, also macroeconomic indicator such as inflation rate and export growth toward Rupiah exchange rate against US Dollar. Using quantitative approach, the data applied is time series quarterly data during 2005 – 2014 selected through saturated sampling method. This method resulted 40 samples which then applied into multi linear regression. The F test result indicates that petroleum price, gold price, inflation rate and export growth has significant effect on Rupiah exchange rate against US Dollar simultaneously. Partial test result (t test), indicating that variable of petroleum price, gold price, inflation rate and export growth has significant effect on Rupiah exchange rate against US Dollar. Keywords: Petroleum prices, gold price, inflation rate, export growth, Rupiah exchange rate against US Dollar
ANALISIS KINERJA BANK BERDASARKAN FAKTOR RISK, GOOD CORPORATE GOVERNANCE, EARNING, CAPITAL (RGEC) (Studi pada Bank Campuran periode 2012-2016) Rizqi Laila Rohmah; Nila Firdausi Nuzula
Jurnal Administrasi Bisnis Vol 55, No 3 (2018): FEBRUARI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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This research is a quantitative research and using descriptive statistical analysis. This study aims to analyze the performance of Venture Bank 2012-2016 based on the risk, good corporate governance, earning and capital (RGEC) factor. The indicators used are 9 financial ratios and 11 GCG indicators based on Bank Indonesia Regulation Number: 13/1 / PBI / 2011 on Rating of Bank Commercial Rating. This ratio is 4 risk factor ratios, 3 rentability ratios and 2 capital ratios. The result of the research is ​​Bank which has the best performance in risk factor is Bank Paribas, Bank which has the best performance in profitability is Bank Rabobank and Bank that have the best performance in capital is Bank Commonwealth. The Bank with the lowest performance in risk factor is ANZ Bank, the Bank with the lowest performance of profitability and capital is Rabobank Bank. Of all factors, the best performing Bank is the Bank Paribas and the Bank with the lowest performance is Bank Rabobank.  Keywords: Bank Performance, RGEC, Financial Ratios, Venture Banks. АBSTRАK Penelitian ini merupakan penelitian kuantitatif dan menggunakan analisis statistik deskriptif. Penelitian ini bertujuan untuk menganalisis kinerja Bank Campuran tahun 2012-2016 berdasarkan risk, good corporate governance, earning and capital (RGEC). Indikator yang digunakan adalah 9 rasio keuangan dan 11 indikator GCG berdasarkan Lampiran Peraturan Bank Indonesia (PBI) Nomor : 13/1/PBI/2011 Tentang Penilaian Tingkat kesehatan Bank Umum. Rasio ini adalah 4 rasio faktor risiko, 3 rasio rentabilitas dan 2 rasio permodalan.  Hasil penelitian Bank Campuran adalah Bank yang memiliki kinerja terbaik dalam faktor risiko adalah Bank Paribas, Bank yang mempunyai kinerja terbaik dalam rentabilitas adalah Bank Rabobank dan Bank yang mempunyai kinerja terbaik dalam permodalan adalah Bank Commonwealth. Bank yang memiliki kinerja paling rendah dalam faktor risiko adalah Bank ANZ, Bank yang memiliki kinerja paling rendah rentabilitas dan permodalan adalah Bank Rabobank. Dari semua faktor, Bank yang memiliki kinerja paling baik adalah Bank Paribas dan Bank yang mempunyai kinerja paling rendah adalah Bank Rabobank. Kata Kunci: Kinerja Bank, RGEC, Rasio Keuangan, Bank Campuran
SPRINGATE S-SCORE MODEL UNTUK MEMPREDIKSI FINANCIAL DISTRESS PERUSAHAAN (Studi pada Perusahaan Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia Periode 2006-2015) Valeria Pramudita Suwandani; Nila Firdausi Nuzula
Jurnal Administrasi Bisnis Vol 47, No 1 (2017): JUNI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

The study aims to examine financial distress condition in nine textile and garment companies listed in Indonesian Stock Exchange (IDX) period 2006-2015 by using Springate S-Score Model. The data source was secondary data in the form of balance sheets and income statements. Springate S-Score Model is a quantitative method which has used by Aghajani (2012), Ghodrati (2012), Ben (2015), and Widenda (2016), along with the prominent one, Altman Z-Score model. The model combines four types of ratio, which are working capital to total assets (A), EBIT to total assets (B), EBT to total current liabillities (C), and sales to total assets (D). The companies would be in safe zone, if the Z > 0,862; contrary it would  be suffer from financial distress if the Z < 0,862. The result showed that there were six of nine companies which were always in financial distress zone for the entire ten years. One company was safe from financial distress in 2011, while other company was in safe zone in 2011 and 2015. Only one company that was safe from financial distress during 2006,2007 and 2011-2014. Keywords : Springate S-Score Model, Financial Distress ABSTRAK Penelitian ini bertujuan untuk mengetahui prediksi financial distress perusahaan tekstil dan garmen yang terdaftar di Bursa Efek Indonesia periode 2006-2015 menggunakan Springate S-Score Model. Sumber data dalam penelitian adalah data sekunder berupa neraca dan laporan laba rugi perusahaan. Springate S-Score model adalah metode kuantitatif yang digunakan oleh Aghajani (2012),  Ghodrati (2012), Ben (2015), dan Widenda (2016), bersama dengan model yang menonjol, Altman Z-Score model. Model ini mengkombinasikan empat jenis rasio, yaitu modal kerja terhadap total aktiva (A), EBIT terhadap total aktiva (B), EBT terhadap total liabilitas lancar (C), dan penjualan terhadap total aktiva (D). Perusahaan akan berada pada zona aman, apabila Z > 0,862; kebalikannya perusahaan akan mengalami financial distress apabila Z < 0,862. Hasil penelitian menunjukkan bahwa enam dari sembilan perusahaan selalu berada dalam zona diprediksi financial distress selama sepuluh tahun berturut-turut. Satu perusahaan berada pada zona aman hanya pada tahun 2011, sedangkan satu perusahaan berada pada zona aman hanya pada tahun 2011 dan 2015. Hanya satu perusahaan berada pada zona aman selama enam tahun yakni tahun 2006, 2007, dan 2011-2014. Kata kunci : Springate S-Score Model, Financial Distress
ANALISIS DIVIDEND DISCOUNTED MODEL (DDM) UNTUK VALUASI HARGA SAHAM SEBAGAI DASAR KEPUTUSAN INVESTASI (Studi Pada Perusahaan Yang Terdaftar Di Indeks LQ-45 Periode 2012-2014) Ardhito Ario Hutomo; . Topowijono; Nila Firdausi Nuzula
Jurnal Administrasi Bisnis Vol 37, No 2 (2016): AGUSTUS
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

This research is based on risk of mispriced that received by investors when they are funding in the stock, thus, it creates views that investing in stocks is considered no different as mere speculation. This research shows that investors can access the reasonableness price of the stock using DDM with constant growth model to reduce the risk of mispriced so that investment decisions can be taken appropriately.Objective of this research is to assess the reasonableness the prices of stocks listed in the LQ-45 2012-2014 through dividend growth rate and the rate of return. The financial data obtained through the website of Indonesia Stock Exchange and the annual report of each company. The finding show that stock of 7 companies have undervalued. This means the prices were low, therefore the study suggests to buy the stock or hold the stock if the investors have owned them. Stock of 11 companies were overvalued, meaning that the prices were high. The investor dicision were not to buy the stock or immeduately sell stock if the investor already own the stock Keywords: Discounted Dividend Model, Stock Price Valuation, Investment Decisions ABSTRAK Penelitian ini didasarkan atas resiko mispriced yang diterima investor ketika menanamkan dananya dalam saham yaitu kesalahan dalam memperkirakan dan mengidentifikasi harga wajar saham, maka investor perlu menganalisis kewajaran harga saham untuk mengurangi risiko ini. investor dapat menilai harga kewajaran saham menggunakan DDM dengan model pertumbuhan konstan untuk mengurangi resiko mispriced sehingga keputusan investasi dapat diambil secara tepat. Tujuan dari penelitian ini adalah menilai harga kewajaran saham pada perusahaan yang terdaftar dalam indeks LQ-45 periode 2012-2014 melalui tingkat pertumbuhan dividen dan tingkat pengembalian dari saham termasuk dalam sampel penelitian.. Data keuangan diperoleh melalui website BEI dan annual report perusahaan yang masuk dalam sampel penelitian. Hasil penelitian ini menunjukan dari 18 sampel perusahaan memiliki hasil yang berbeda. Berdasarkan penelitian yang telah dilakukan diperoleh 7 perusahaan yang sahamnya berada dalam posisi undervalued yang berarti kondisi saham tersebut tergolong rendah, sehingga keputusan investasi yang disarankan adalah membeli saham tersebut untuk calon investor adalah menahan  saham untuk investor yang telah memiliki saham. selanjutnya diketahui bahwa ada sebanyak 11 perusahaan yang sahamnya berada dalam posisi overvalued yang berarti kondisi saham tersebut tergolong tinggi,sehingga keputusan investasi yang disarankan tidak membeli saham tersebut untuk calon investor dan segera menjual saham untuk investor yang telah memiliki saham. Kata Kunci: dividend discounted model, valuasi harga saham, keputusan investasi
Effect of Fundamental Factors and Demographic Informations on Personality and Investment Decision Ika Sisbintari; Suhadak Suhadak; Siti Ragil; Nila Firdausi Nuzula
Wacana Journal of Social and Humanity Studies Vol. 22 No. 3 (2019)
Publisher : Sekolah Pascasarjana Universitas Brawijaya

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Investment decision making is a process that involves investor psychology. Many events in capital market are anomalies that traditional finance cannot explain. Researchers in finance field then turn to non-economic aspects of investor psychology which causes behavioral finance to emerge. In principle, behavioral finance is a study of three fields of science, namely finance, psychology and sociology. This study aims to (1) test and explain the effect of fundamental factors on investment decision; (2) test and explain the effect of demographic informations on personality; (3) test and explain the effect of personality on investment decision; (4) test and explain the effect of demographic informations on investment decision. Data collection was carried out using a questionnaire with a response rate of 72.4% (of the 500 questionnaires sent, 362 returned questionnaires that could be analyzed). Data analysis used Generalized Structured Component Analysis (GeSCA). The results showed that (1) fundamental factors had a significant effect on investment decision; (2) demographic informations had a significant effect on personality; (3) personality had a significant effect on investment decision; (4) demographic informations had a significant effect on investment decision.
The Effect of Capital Structure and Ownership Structure on Financial Performance and Dividend Policy on Manufacturing Companies in the Indonesia Stock Exchange Samira Hanim; Suhadak Suhadak; Nila Firdausi Nuzula
Wacana Journal of Social and Humanity Studies Vol. 21 No. 3 (2018)
Publisher : Sekolah Pascasarjana Universitas Brawijaya

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This study aimed to examine the effect of capital structure and ownership structure on financial performance and dividend policy. The study involved the manufacturing companies listed on IDX from 2012 to 2016. The data were analyzed by applying PLS (Partial Least Square). Research method used in this research was explanatory research using purposive sampling. The results of this study were: Capital Structure had a positive significant effect on Financial Performance, Capital Structure had non-significant effect on Dividend Policy, Ownership Structure had a positive significant effect on Financial Performance, Ownership Structure had non-significant effect on Dividend Policy, and Financial Performance had a positive significant effect on Dividend Policy.
EVALUASI KINERJA DAN PERBANDINGAN ANALISIS RASIO (Studi pada Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2010-2014) Candra Puspita Ningtyas; Suhadak Suhadak; Nila Firdausi Nuzula
Jurnal Bisnis dan Manajemen Vol 3, No 2 (2016): Juni 2016
Publisher : University of Merdeka Malang

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Abstract

Penelitian ini bertujuan untuk mengetahui evaluasi kinerja dengan menggunakan perbandingan analisis rasio selama tahun 2010-2014. Jenis penelitian menggunakan penelitian deskriptif dengan menggunakan data sekunder yang diperoleh dari situs resmi BEI www.idx.co.id sebanyak 12 perusahaan. Analisis data penelitian ini menggunakan analisis rasio. Analisis rasio terdiri dari rasio likuiditas, rasio aktivitas, rasio leverage, rasio profitabilitas, dan rasio pasar dengan jumlah sebanyak 19 rasio. Hasil penelitian menunjukkan bahwa rasio likuiditas yang cukup baik diperoleh perusahaan INDF, AISA, dan ULTJ. Rasio aktivitas yang cukup baik diperoleh perusahaan ICBP, CEKA, MLBI, dan ROTI. Rasio leverage yang cukup baik diperoleh perusahaan DLTA, ICBP, INDF, ROTI, dan ULTJ. Rasio profitabilitas dan rasio pasar yang cukup baik diperoleh perusahaan DLTA dan MLBI.
THE EFFECT OF INTELLECTUAL CAPITAL ON FINANCIAL PERFORMANCE OF INNOVATIVE MANUFACTURING COMPANIES IN INDONESIA: THE MEDIATING EFFECTS OF COMPETITIVE ADVANTAGE Andi Wijayanto; Suhadak Suhadak; Moch. Dzulkirom; Nila Firdausi Nuzula
UNEJ e-Proceeding the 3rd International Conference on Economics, Business, and Accounting Studies
Publisher : UPT Penerbitan Universitas Jember

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In the era of knowledge economy, Intellectual Capital is an important factor for corporate competitive advantage and higher Financial Performance. This study aims to examine the mediating effect of Competitive Advantage on the influence of Intellectual Capital on Financial Performance. The study was conducted on 31 innovative manufacturing companies listed on the Indonesia Stock Exchange. Innovative manufacturing companies are companies that demonstrate a commitment to conducting research and development activities. The data analyzed was data from 2011-2016. Data analyzed used Generalized Structured Component Analysis (GSCA). The mediating effect of Competitive Advantage was tested used Sobel Test. The result of this research concludes that Intellectual Capital has positive and significant influence on Competitive Advantage, Intellectual Capital has positive and significant influence on Financial Performance, and Competitive Advantage has negative and significant effect on Financial Performance. Competitive Advantage significantly mediates the influence of Intellectual Capital on Financial Performance.
Co-Authors . DARMINTO . Suhadak . Topowijono Aan Suryana Achmad Basith Ikhsandinoto Agung Nugroho Luthfi Imam Fahrudi Agung Santoso Putra Ahmad Romadhani Akhyian Hamimah Linggahua Alfiyah Agussalim Almoazer Abdelrahman Amalia Agista Maharani Amanda Ade Winona Amelinda Islamey Andi Wijayanto Andi Wijayanto Ardhito Ario Hutomo Ari Darmawan Arief Indra Wahyu Setyawan Arinda Sasmita Rahma Arja, Rayssa Nathasa Bayu Wichaksono Pangestu Bernadetha Eveline Gabriella Purba Budhy Ayu Nurputri Cacik Rut Damayanti Cacik Rut Damayanti Candra Puspita Ningtyas Damayanti, Cacik Rut Dea Kusuma Riyadi Dewi, Winda Rufiana Didik Hartono Dina Aprilia Utami Dyah Putri Fuji Lestari Dаrwаti Dаrwаti Elsafan Kukuh Aditya Esti Junining Fadilla Eka Ningsih Fadillah Amin Fahrudi, Agung Nugroho Luthfi Imam Ferina Nurlaily Firdani Antika Sari Fitria Intan Ayuningtias Fuaida, Roudhotul Gagas Sеptian Nurfikri Gilang Salman Al Farisi Gilda Maulina Harril Brimantyo Ika Meriyanti Jabir Putri Ika Sisbintari Islami Putri Apriani Isti Purwaningtyas Julian Arsyad Illinova Kevin Adiyasa Pahlevi Kurniawan Winata Laili Fitria Nurfadillah Laras Sati Giri Noerani M. Saifi Mai Sovi Triswidjanti Maulina, Gilda Meutea Saraswati Mifthachul Cholifah Miranti Sedyaningrum Moch. Dzulkirom Mochammad DJUDI MUKZAM, Mochammad DJUDI Mohamad Faathir Al Hakim Muchammad Rizki Agung Putra Muhamad Ibrahim Muhamad Wahyu Firmansyah Muhammad Apri Wirawan Sinaga Muhammad Khalid Mawardi Muhammad Nur Hidayah Muhammad Saifi Muhammad Saifi Muhammad Yusril Mustafa, Muthyah Ainunsary Nada Faradila Naufal Yafi’ Najy Nelly Sulistyani Putri Neng Windy Naedya Cahyanti Ni Wayan Kartika Yowana Nia Mardiana Nia Nugraha Farelio Siregar Nur Imamah Nuraeni Nuraeni, Desika Putri Nuria Setiarini Nurlita Sukma Alfandia Nurul Lianawati N’imatul Lailiyah Oktana Indriyatna Jatnika One Septy Wulandari Onni Meirezaldi Pregnandia Ladina Prima Rahma Sari Prisya Esterlina Qur&#039;anitasari Qur&#039;anitasari Rachma Bhakti Utami Raden Rustam Hidayat RANI RACHMAWATI Reika Happy Sugiastuti Reza Hendrawan rizky Adhitya Rizqi Laila Rohmah Rony Yuda Prasetyo Rosyida Maulina Rulita Indra Puspitasari Rully Herlinasari Samira Hanim Saparila Worokinasih Saputra, Arjun Sarah Torgara Aprillia Manurung Satimah Sarisitamah Dewi Mandiri Satria Lukman Pinarbaga Sekar Arum Kinanti Septa Lukman Andes Shabrina Nur Adliah Sirivanh, Thongvanh Siti Ragil Siti Ragil Handayani Siti Ragil Handayani Sri Mangesti Rahayu Sri Mangesti Rahayu Sri Sulasmiyati Sri Sulasmiyati Stefani Fabiola Christine Suhadak Suhadak Suhadak Suhadak Sulasmiati, Sri Suroto Suroto Syahla Dwinovita Putri Taufik Hidayat Theresia Vania Hamolin Tita Irbah Rofifah Topo Wijono Topowijono Topowijono Tria Syafitri Valeria Pramudita Suwandani Vieni Angelita Buana Wahyu Aprilia Sari Yuliana Prasiska Yuni Anisa Lestari