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TESTING THE EFFECTIVENESS OF THE CARHART MODEL FOUR FACTORS ON EXCESS RETURNS IN INDONESIA Yossy Imam Candika
TIJAB (The International Journal of Applied Business) Vol. 1 No. 1 (2017): APRIL 2017
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (421.293 KB) | DOI: 10.20473/tijab.V1.I1.2017.60-74

Abstract

One crucial information for investor in making their investment decision is to estimate asset-pricing level.  The basic principle would be high risk, high return.  This research is using Carhart model (1997): market return, size, book to market, and momentum.  The goal of this research is to test and analyze the influence of Carhart Four Factor Model toward Indonesian stock' excess return.  Dependent variable used in this research is stock' excess return, while independent variable used are Carhart four factor model.  Population used is all non-financial firms listed in Bursa Efek Indonesia from year 2010 to 2012.  Total samples are 150 firms.  To test the model in this research, we firstly create ten portfolio groups by combining size-book to market and size-momentum.  We use multiple regression analysis by using 10 regression analysis model based on previously built 10 portfolio combinations. Statistical test on variable excess market return toward stock return on 10 portfolio shows that there exist positive significant relationship to all models.  SMB is significantly impacting portfolio return to 5 models. HML is significantly impacting portfolio return to 6 models. UMD impacting positively significant toward portfolio return on 2 models.   Keywords: stock excess return, Carhart four factor model, market return, size, book to market, momentum.
PENINGKATAN PENDAPATAN NELAYAN TRADISIONAL MELALUI PENDAMPINGAN MANAJEMEN USAHA DAN PEMASARAN PRODUK OLAHAN IKAN Imron Mawardi; Tika Widiastuti; Yossy Imam Candika; Muhammad Ubaidillah Al Mustofa
Jurnal Layanan Masyarakat Vol. 6 No. 2 (2022): JURNAL LAYANAN MASYARAKAT
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jlm.v6i2.2022.267-276

Abstract

Desa Weru merupakan salah satu dari dua Pusat Pendaratan Ikan (PPI) di Kecamatan Paciran, Kabupaten Lamongan. Kelompok Nelayan Desa Weru merupakan kelompok nelayan yang dibentuk untuk membantu para nelayan masyarakat desa Weru dalam memenuhi kebutuhan melaut hingga sebagai naungan badan hukum. Berdasarkan survei pendahuluan, Kelompok Nelayan Desa Weru memiliki dua permasalahan utama dalam menghasilkan produk olahan ikan, yaitu aspek produksi dan pemasaran. Tidak adanya standarisasi dalam memproduksi makanan olahan ikan menjadi permasalahan pada aspek produksi. Sedangkan pada aspek pemasaran, masyarakat selama ini menjual produk olahan ikan tanpa memperhatikan aspek pemasaran yang baik. Program Pemberdayaan Masyarakat yang bekerjasama dengan Dinas Koperasi dan Dinas Kelautan dan Perikanan memberikan pelatihan mengolah ikan belo dan memasarkannya dengan baik. Ikan belo merupakan ikan yang sangat melimpah di desa tersebut. Pelatihan ini diharapkan mampu membekali para ibu-ibu nelayan untuk menghasilkan produk yang memiliki nilai jual tinggi serta meningkatkan taraf ekonomi.
LITERASI KEUANGAN, KUALITAS PELAYANAN, DAN PROSEDUR KREDIT: KUNCI KEPUTUSAN KUR UMKM Bahtera, Novyandri Taufik; Fitri Liani Dewi; Yossy Imam Candika; Eka Lestari Hafqi Putri
JUMANJI (JURNAL MANAJEMEN JAMBI) Vol. 7 No. 2 (2024): JUMANJI (JURNAL MANAJEMEN JAMBI)
Publisher : Fakultas Hukum dan Ekonomi Bisnis

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

Abstract

Keterbatasan modal menjadi hambatan utama dalam pengembangan UMKM di Indonesia, meskipun sektor ini memiliki kontribusi besar terhadap perekonomian. Program Kredit Usaha Rakyat (KUR) hadir sebagai solusi, namun pengambilan keputusan untuk mengakses KUR dipengaruhi oleh literasi keuangan, kualitas pelayanan, dan prosedur kredit. Penelitian ini bertujuan untuk menguji hipotesis bahwa ketiga faktor tersebut memiliki pengaruh signifikan terhadap keputusan pengambilan KUR oleh UMKM di Surabaya. Dengan pendekatan kuantitatif, penelitian ini melibatkan 100 responden UMKM yang dipilih menggunakan teknik purposive sampling. Data dianalisis menggunakan regresi linier berganda dengan SPSS versi 26. Hasil penelitian mendukung hipotesis bahwa literasi keuangan, kualitas pelayanan, dan prosedur kredit memiliki pengaruh positif dan signifikan terhadap keputusan pengambilan KUR. Secara simultan, ketiga variabel ini menjelaskan 62,5% variasi keputusan kredit, menunjukkan pentingnya faktor-faktor tersebut dalam pengambilan keputusan pembiayaan. Temuan ini mengindikasikan bahwa upaya peningkatan literasi keuangan, perbaikan kualitas pelayanan, dan penyederhanaan prosedur kredit dapat meningkatkan aksesibilitas UMKM terhadap pembiayaan KUR. Penelitian ini memberikan kontribusi pada pengembangan kebijakan yang mendukung keberlanjutan UMKM melalui penguatan sistem pembiayaan.
PEMBERDAYAAAN PETERNAKAN KAMBING POTE MELALUI TEKNIK KAWIN SUNTIK UNTUK PENINGKATAN EKONOMI MASYARAKAT BANGKALAN Sosilowati, Suherni; Hernawati, Tatik; Suprayogi, Tri Wahyu; Candika, Yossy Imam; Supriyadi, Supriyadi
Mitra Mahajana: Jurnal Pengabdian Masyarakat Vol. 5 No. 3 (2024): Volume 5 Nomor 3 Tahun 2024
Publisher : LPPM Universitas Flores

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37478/mahajana.v5i3.4556

Abstract

Community Service was conducted to increase local people’s economy by Poté goat population using Artificial Insemination in Alaskokon, Modung, and Bangkalan. The partner in this Community Service are local Poté goat farmers in Alaskokon village, Modung, Bangkalan. The analysis of this situation shows a problem that the Partner has been facing. Even though the Poté population is not lacking, their rearing is conventional where it is not focused on selling but more on saving for when there is no money (Rojokoyo). To tackle this problem, Artificial Insemination was introduced to the Poté. Moreover, socialisation was done by covering various aspects. Sosialisation was given on caring for pregnant does, semen collection using an artificial vagina, and buck semen dilution using different types of extenders such as coconut water, milk, and egg yolk-citrate. Socialisation of the marketing strategy for goats was also given. Artificial Insemination Technology is a solution for improving the goat population. Goats are fast-bred livestock with a relatively short gestation time and can utilise forage like grasses. Artificial Insemination technique can be administered three times in two years to increase the goat population, thus, the local people’s economy may follow. After the programme was completed, farmers were enthusiastic about collecting goat semen and inseminating livestock.
Profitabilitas dan Harga Saham Terhadap Nilai Perusahaan Manufaktur di Indonesia Putri, Eka Lestari Hafqi; Rachmayanti, Winda Putri; Imam Candika, Yossy
JURNAL ADMINISTRASI & MANAJEMEN Vol 14, No 4 (2024): Jurnal Administrasi dan Manajemen
Publisher : Universitas Respati Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52643/jam.v14i4.4839

Abstract

Sektor manufaktur memainkan peran kunci sebagai penggerak pembangunan karena jumlah modal yang dimilikinya sangat besar disertai kemampuannya menyerap tenaga kerja dalam jumlah besar pula sehingga mampu memberikan kontribusi terbesar bagi PDB. Saat terjadi pandemi covid -19 sektor ini mengalami penurunan dan dampaknya sangat signifikan bagi perkenomian di Indonesia. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh dari kinerja profitabilitas perusahaan dengan proksi Return On Assets (ROA), Return On Equity (ROE), Net Profit Margin (NPM) , dan harga saham terhadap nilai perusahaan dengan proksi Price To Book Value (PBV) pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Penelitian ini menggunakan metode data kuantitatif dengan metode penarikan sampel yang digunakan yaitu Purposive Sampling. Metode analisis yang digunakan adalah Statistik Deskriptif dan Regresi Linier Berganda. Hasil dari penelitian menunjukkan bahwa Return On Assets (ROA), Return On Equity (ROE), dan harga saham secara parsial memiliki pengaruh signifikan terhadap nilai perusahaan, sedangkan Net Profit Margin (NPM) secara parsial tidak memiliki pengaruh terhadap nilai perusahaan.
Kecenderungan penggunaan paylater di kalangan mahasiswa: Peran perilaku konsumtif dan tekanan sosial Candika, Yossy Imam; Riadi, Faicha Sintya; Putri, Eka Lestari Hafqi; Bahtera, Novyandri Taufik
Journal of Management and Digital Business Vol. 5 No. 2 (2025): Journal of Management and Digital Business
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jmdb.v5i2.1862

Abstract

The use of PayLater services among university students has increased significantly, particularly in major cities like Surabaya. This phenomenon is influenced by a growing consumptive lifestyle and social pressure from the surrounding environment. This study aims to analyze the influence of consumptive behavior and social influence on the decision to use PayLater services among students in Surabaya. The research was conducted in May 2024 using a quantitative method with a survey approach. Primary data were collected from 75 university students in Surabaya who have used PayLater services, and analyzed using multiple linear regression. The results show that consumptive behavior has a significant influence on the decision to use PayLater, while social influence is positive but not statistically significant. These findings indicate that student decisions are more strongly driven by a consumptive lifestyle than by social pressure. Therefore, PayLater service providers are advised to design marketing strategies aligned with students’ consumption patterns. Additionally, educational institutions and financial regulators should enhance financial literacy education to mitigate irresponsible use of PayLater services that may impact students’ future financial well-being.
Intracervical Artificial Insemination using Frozen Semen of Boer buck on Pote Does at Different Times of Estrus Susilowati, Suherni; Tri Wahyu Suprayogi; Tatik Hernawati; Yossy Imam Candika; Widya Paramita Lokapirnasari
Ovozoa: Journal of Animal Reproduction Vol. 12 No. 1 (2023): Ovozoa: Journal of Animal Reproduction
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/ovz.v12i1.2023.18-24

Abstract

Pote goats are kept by the rural community in Bangkalan Regency, Madura Island, Indonesia. Estrus symptoms in goats are usually unclear, causing low fertility. This study aimed to determine the intracervical artificial insemination at early and mid-estrus on the Pote does. The 24 the does were randomly divided into two groups and estrous synchronization with PGF2α of 200 µg intramuscularly, twice injections with 11 days intervals. The T1 groups of estrus the Pote does were inseminated at early estrus (0-12 hours). Meanwhile, T2 groups of estrus the Pote does were inseminated at mid-estrus (12-24 hours after signs of estrus appeared. The insemination conducted artificially using post-thawed Boer semen. The observed variables were non-return rate at day 21 post-insemination (NRR21), and pregnancy rate (PR) based on abdominal palpation diagnosis. The result showed that post-thawed Boer buck was qualified (sperm motility more than 40%) for artificial insemination. All of the Pote does were estrus after twice PGF2α intramuscular injection with 11 days intervals. The onset of estrus was 48-72 hours after the second injection PGF2α. The NRR21 and PR ranged from 66.66-100% and 37.50-66.66%, respectively. The NRR21 and PR of the T2 group were higher than those of the T1 group. It could be concluded that intracervical artificial insemination on Pote the does at mid-estrus were more effective, resulting in higher NRR21 and PR than those at early estrus.
Pemberdayaan Peternak Kambing Senduro melalui Integrated Farming di Kelompok Ternak Mekar Sari, Kecamatan Senduro, Lumajang Maslachah, Lilik; Lokapirnasari, Widya Paramita; Candika, Yossy Imam; Sabdoningrum, Emy Koestanti; Kurnijasanti, Rahma
Agrokreatif: Jurnal Ilmiah Pengabdian kepada Masyarakat Vol. 11 No. 3 (2025): Agrokreatif Jurnal Ilmiah Pengabdian kepada Masyarakat
Publisher : Institut Pertanian Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/agrokreatif.11.3.517-525

Abstract

Senduro goat has been designated as a valuable genetic resource of Indonesia’s local livestock that must be protected and preserved. The Senduro goat, which thrives in Senduro Subdistrict, holds great potential as an economic driver for the village and therefore needs to be continuously developed and maintained. This community service program was carried out to address the issues faced by the partner farmers of the Mekar Sari Livestock Group through technology-based community empowerment. The main goal of this activity is to enhance community self-reliance and welfare through a Science Techno Park approach, which includes the application of technology in integrated farm development, improving farmers' skills in ruminant feed management, processing manure waste into fertilizer, and conducting livestock business analysis, including business and financial planning. The activities were carried out in several stages, namely: communication and coordination with relevant parties, observation and partner site survey, workshops, field practice through demo plots, and evaluation and monitoring. The evaluation was conducted using pre-test, post-tests and questionnaires to assess the improvement in partner knowledge. The evaluation results showed that, in general, the partners found the activity very beneficial, engaging, and capable of increasing goat farmers’ knowledge about the integrated farm concept using a zero-waste approach. The partners' understanding of feed processing, waste management, and business analysis significantly increased from 52 to 92%. This activity received a positive response from the Mekar Sari Goat Farmer Group in Senduro, Lumajang. The sustainability of this program is further coordinated with the relevant government agencies in Lumajang Regency to support the development of sustainable livestock farming in the region.