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Price Manipulation During the Indonesian Presidential Election of 2019: Does it Matter Toward Return, Volatility and Liquidity? Kris Ossy Novian; Intan Nurul Awwaliyah; Hadi Paramu
Conference Series Vol. 3 No. 1 (2020): International Conference on Global Innovation and Trends in Economy 2020
Publisher : ADI Publisher

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

Abstract

The main purpose of this research is to evaluate if stocks indicated political content during the 2019 Indonesia’s presidential election in the form of price manipulation. This study uses a quantitative method by employing an independent sample t-test to test the hypothesis. Sample formation is divided into two broad categories which are affiliated company stocks and non-affiliated company stocks. Data gathered in this study are return, volatility, and liquidity from March 23 to April 17, 2019. The results show that there is no evidence of price manipulation during the presidential election in those three variables including return (0.0870), volatility (0.5630) and liquidity (0.0800). The overall null hypothesis cannot be rejected since the t-statistics is smaller than the t-table (2.0243). However, there is an indicative of the stock price decrease which occurred during a period of observation from the 2019 presidential election. Although the price manipulation is not evidence during the election, yet strengthening the stock market regulation is necessary in order to improve investor’s confidence to invest in Indonesia in particular during political events.
Interaction between Monetary and Macroprudential Policy to Enhance Financial Stability: Evidence from Indonesia Yulia Indrawati; Adhitya Wardhono; Hadi Paramu; M. Abd. Nasir; Nyoman Gede Krishnabudi; Ciplis Gema Qoriah
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 2 (2022): Budapest International Research and Critics Institute May
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i2.4794

Abstract

This study aimed to evaluate the interaction between monetary and macroprudential policy through the function of the central bank's objectives, namely the plain vanilla taylor rule, lean against the wind taylor rule, independent macroprudential policy rule and lean against the wind taylor rule with macroprudential policy. The parameter value used was based on the previous empirical study. The numerical optimizer csminwel of Chris Sims was used to solve the quadratic linear problems. The optimum coefficient calculation applied dynare optimal simple rule routine using the application of dynare 4.5.7 and matlab software. The result shows the macroprudential instruments, known as a buffer in monetary policy, we’re able to optimally minimize the loss function of the central bank. The central bank carried out both monetary and macroprudential policy in a comprehensive way to achieve two purposes as stated in the tinbergen principle. The interest rate policy is intended for reaching inflation and output stability, while the macroprudential policy is for credit growth. Macroeconomic stability with the addition of macroprudential policy is significant. This advantage is intended to cover greater volatility both in the policy rate and the inflation rate.
DAMPAK TATA KELOLA PERUSAHAAN, TANGGUNG JAWAB SOSIAL PERUSAHAN DAN INTELECTUAL CAPITAL TERHADAP PROFITABILITAS PERUSAHAAN Nurul Qomariah; Ni Nyoman Putu Martini; Hadi Paramu
Jurnal Sains Manajemen dan Bisnis Indonesia Vol 8, No 1 (2018): Jurnal Sains Manajemen Dan Bisnis Indonesia
Publisher : Universitas Muhammadiyah Jember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32528/smbi.v8i1.1766

Abstract

Tujuan dari penelitian ini adalah untuk mengetahui pengaruh tata kelola perusahaan, dan  tanggung jawab sosial perusahaan serta intellectual capital  terhadap profitabilitas  pada perusahaan  industry makanan yang tersertifikasi halal yang  terdaftar di Bursa Efek Indonesia. Variabel yang digunakan adalah variabel bebas  dan variabel terikat. Variabel terikatnya  yaitu variabel profitabilitas. Variabel bebasnya adalah variable tata kelola perusahaan,  tanggung jawab sosial perusahaan dan intellectual capital .  Populasi penelitian adalah seluruh perusahaan industry makanan yang tersertifikasi halal yang terdaftar di Bursa Efek Indonesia dengan sampel yang memenuhi persyaratan ada 11 perusahaan. Metode analisis data yang digunakan adalah  analisis regresi linier berganda, dengan bantuan software SPSS. Hasil penelitian menunjukkan bahwa tata kelola perusahaan tidak berpengaruh signifikan terhadap profitabilitas. Tanggung jawab sosial perusahaan tidak berpengaruh signifikan terhadap profitabilitas. Intellectual capital berpengaruh positif dan signifikan terhadap profitabilitas. Tata kelola perusahaan tidak berpengaruh signifikan terhadap profitabilitas. Kata Kunci : tata kelola perusahaan yang baik, tanggung jawab sosial perusahaan, profitabilitas, modal intelektual
PENGARUH KINERJA KEUANGAN DAN KEBIJAKAN DIVIDEN TERHADAP ABNORMAL RETURN Debbi Fauziah Ulfah; Hadi Paramu
Jurnal Sains Manajemen dan Bisnis Indonesia Vol 7, No 1 (2017): Jurnal Sains Manajemen Dan Bisnis Indonesia
Publisher : Universitas Muhammadiyah Jember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32528/smbi.v7i1.1013

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh kinerja keuangan (current ratio, inventory turnover, debt to asset ratio, return on equity, market to book value of equity, dan harga saham pada waktu lalu) dan kebijakan dividen (dividend payout ratio) terhadap abnormal return pada perusahaan sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Penelitian ini menggunakan data sekunder. Populasi dalam penelitian adalah 16 perusahaan makanan dan minuman.  Sebanyak 13 perusahaan terpilih dengan menggunakan teknik purposive sampling. Metode analisis yang digunakan adalah analisis regresi linier berganda. Hasil penelitian menunjukkan bahwa (a) Return On Equity berpengaruh positif signifikan terhadap abnormal return, (b) harga saham pada waktu lalu berpengaruh negatif signifikan terhadap abnormal return, (c) Current Ratio secara parsial tidak berpengaruh signifikan dengan arah positif terhadap abnormal return, dan (d) Inventory Turnover, Debt to Asset Ratio, Market to Book Value of Equity, dan Dividend Payout Ratio secara parsial tidak berpengaruh signifikan dengan arah negatif terhadap abnormal return.Kata Kunci: Kinerja Keuangan, Kebijakan Dividen, Abnormal Return, Sub Sektor Makanan dan Minuman
ESTIMASI PROFIT LOSS HARGA KONTRAK BERJANGKA KAKAO UNTUK KEPENTINGAN PENGAMBILAN KEPUTUSAN HEDGING Alvina Octaviani Putri; Hadi Paramu; Tatok Endhiarto; Ariwan Joko Nusbantoro; Arnis Budi Susanto
VALUE: Journal of Business Studies Vol 2 No 1 (2023): VALUE: Journal of Business Studies
Publisher : Study Program of Management Faculty of Economics and Business University of Jember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19184/value.v2i1.39171

Abstract

This study aims to examine whether hedging strategies need to be implemented or not by cocoa farmers. This study uses an estimated hedging real income analysis using the Monte Carlo simulation method to predict the selling price of cocoa on the futures exchange or the futures price and the selling price of cocoa on the physical market or spot price. The historical data examined in this study are futures price data expired in 2021 and spot price data for the period December 2015 to December 2020. The results show that 85% (425 out of 500 simulations) of the estimated real hedging income are in a profit position and 15 % (75 out of 500 simulations) the estimated real hedging income is in a loss position. Based on these results it can be concluded that transacting with futures contracts is considered to provide higher prices and income than transacting in the physical market so that cocoa farmers need to implement a hedging strategy in order to protect themselves and optimize income.
Analisis Kelayakan Investasi Pendirian Usaha Jasa Penggilingan Daging di Kabupaten Jember – Jawa Timur Heri Istanto; Isti Fadah; Hadi Paramu
RELASI : JURNAL EKONOMI Vol 12 No 1 (2016)
Publisher : STIE Mandala Jember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31967/relasi.v12i1.84

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Every investor or businesses expect the investments made will benefit in the long term. However, often such investment activity are faced with various problems. One of them is the problem of the financial aspects. Financial aspects are basically related to funding issues and issues cash refund long and uncertain. Therefore, before taking the decision to invest, one important requirement is to conduct a feasibility study of the financial aspects (financial) using several methods of analysis. NPV method produces a value of Rp80.206,00, DPP method is obtained payback period of 4 years and 4 months 5 days, methods IRR obtained a value of 32.05%, MIRR method values obtained 32.03% and Monte Carlo simulation 500 times produce Rp48.358.585,00 average value, standard deviation of Rp46.531.556,00 and P (NPV <0) of 14.93%. Based on the results of a calculation by the method of NPV, IRR, MIRR and Monte Carlo Simulation, investment services business establishment grinding meat in Jember feasible. While the analysis of the DPP method, the investment is not feasible.
PENDAMPINGAN PEMBUATAN WEBSITE UNTUK UMKM SATE KEDAI BIRU DAUN Sudaryanto, Sudaryanto; Hanim, Anifatul; Harsono, Soni Sisbudi; Paramu, Hadi; Endhiarto, Tatok
Jurnal Pengabdian Masyarakat Applied Vol 2 No 2 (2023): JPMA Vol 2 No 2
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19184/jpma.v2i2.44355

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Kegiatan pengabdian ini bertujuan untuk membantu UMKM membangun strategi pemasaran digital melalui pembuatan website bisnis. Paradigma yang digunakan adalah kualitatif nominalis prepositivis yaitu dengan mengembangkan konsep berdasarkan kondisi lingkungan. Melalui pendampingan langsung dengan pemilik Depot Sate Biru Daun, perencanaan, implementasi dan evaluasi adopsi teknologi informasi pembuatan website bisnis berdampak positif. Hasil pengamatan menunjukkan bahwa website bisnis yang dibangun mampu menghasilkan tambahan pendapatan selama kurun waktu pendampingan.
Pengaruh Kepemimpinan Transformasional, Komunikasi Antarpribadi dan Komitmen Organisasi Terhadap Kinerja Pegawai Pada Pemerintah Kabupaten Situbondo Rachman, Alief Rizaldy; Titisari, Purnamie; Paramu, Hadi
Ekspektra : Jurnal Bisnis dan Manajemen Vol 8 No 2 (2024)
Publisher : Universitas Dr. Soetomo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25139/ekt.v8i2.7073

Abstract

This research aims to determine the effect of transformational leadership, interpersonal communication and organizational commitment on employees performance of Situbondo Regency Government. The approach in this study used a survey method who involves Situbondo Regency Government employees, specifically in office unit as DBHCHT recipient. The purposive sampling method was used to determine the research sample and obtained 104 respondents who suitable with the criteria. The variable measurement scale in this research questionnaire uses a semantic scale and is analyzed using multiple linear regression analysis and hypothesis testing methods. The benefit of this research is to get to know about specific impact of three variables that affect work performance so it will help leaders of the government to maximalize employee work performance. The research results show that respondents responded positively to each statement item to measure the variable. Based on further analysis of primary data using the SPSS Software, it can be concluded that transformational leadership, interpersonal communication, and organizational commitment have a significant positive influence on employee performance. Leaders who have been able to implement a transformative attitude, warm and professional employee communication, and high commitment to the organization produce employee performance that can be said to be good.
Literature Review: Financial Literacy in The Context of Micro Enterprise Development and The Methods Used Ferawati, Indah Wahyu; Fadah, Isti; Paramu, Hadi
Jurnal Pendidikan Akuntansi & Keuangan Vol 12, No 2 (2024): JPAK : Jurnal Pendidikan Akuntansi dan Keuangan
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/jpak.v12i2.71056

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Financial literacy is an important factor in improving the performance of small firms. In today's highly competitive environment, small companies are trying to maintain their survival. One of the ways that companies maintain their survival is to improve performance by increasing understanding of financial literacy. This study aims to examine the determinants of financial literacy on the performance of small companies. This research uses the Systematic Literature Review (SLR) method. Articles were obtained from the Publish or Perish application with the keywords financial literacy and small business from Google Scholar and Scopus. The results showed that financial literacy has an important role in improving small business performance. It empowers business owners to make informed decisions, access resources effectively and drive sustainability, increase resilience and achieve growth in their enterprises.
HEALTH FINANCING ANALYSIS OF MINIMUM SERVICE STANDARDS IN THE HEALTH SECTOR Risdiyanti, Arie; Paramu, Hadi; Sunarto, Sunarto
Indonesian Journal of Health Administration (Jurnal Administrasi Kesehatan Indonesia) Vol. 12 No. 1 (2024): June
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jaki.v12i1.2024.62-73

Abstract

Background: This research focuses on health financing Minimum Service Standards (MSS) in the health sector in Lumajang Regency, Indonesia, spanning 2019 to 2022. Despite the government's emphasis on Health MSS, disparities in service access and health conditions persist across different regions. Aims: The research aims to provide insights into the effectiveness of health financing, serving as a foundation for policy recommendations to enhance the efficiency and effectiveness of health fund allocation in Lumajang Regency. Methods: The research employs a quantitative descriptive approach, utilizing DHA and CBA. The study also investigates the budget allocation for MSS Health services.  Results: The findings of the research reveal that the realization of Local Original Revenue (LOR) in the Health sector tends to fall below targets. Non-Physical DAK dominate the funding sources in Community Health Centers (Puskesmas). Maternal health services receive the highest MSS Health budget allocation, but the spending proportion relative to total health expenditure is decreasing. Conclusion: The research underscores the importance of addressing disparities in health financing and service access in Lumajang Regency. Recommendations include the diversification of funding sources, optimization of financing at the Puskesmas level, and a reevaluation of the budget allocation for maternal health services. Keywords: CBA, DHA, health financing analysis, minimum service standards