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All Journal ETIKONOMI Jurnal Manajemen Teknologi Journal of Economics, Business, & Accountancy Ventura JPM (Jurnal Pemberdayaan Masyarakat) Minda Baharu Jurnal Manajemen Studi Kasus Inovasi Ekonomi Jurnal Abdi Insani BERDAYA: Jurnal Pendidikan dan Pengabdian Kepada Masyarakat Jurnal Orientasi Bisnis dan Entrepreneurship Jurnal Inovasi Penelitian dan Pengabdian Masyarakat AKM: Aksi Kepada Masyarakat PROGRESIF Journal of Entrepreneurship and Community Innovations Research of Islamic Economics (RIE) Human Capital and Organizations Marketing and Business Strategy
Perdana Wahyu Santosa
Faculty of Economics and Business University of YARSI
Religion Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Public Health Social Sciences Other

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Journal : Journal of Economics, Business,

 1 
The effect of earning information, cash flow components, and financing decision on stock returns: empirical evidence on Indonesia stock exchange Kasmiati, Mia; Santosa, Perdana Wahyu
Journal of Economics, Business, and Accountancy Ventura Vol. 22 No. 2 (2019): August - November 2019
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v22i2.1638

Abstract

Trading, Service, and Investment sectors show an essential role in the national economy, and they have grown significantly during the past years. They have created many job opportunities in both the formal sector and the non-formal sector. This study aims to analyze the effect of net profit, operating cash flow, financing cash flow and investing cash flow and, financing decisions on stock’s return of service industry listed at Indonesia Stock Exchange (IDX). The analysis was done using the data panel regression. It shows that earning information, operating cash flow, financing cash flow positively affect stock returns. However, investing cash flow and financing decisions (proxy leverage) show a negative effect on the stock's return significantly. Simultaneously, the variables above affect stock return significantly. The implication is that management should pay more attention to financial factors, especially net profit, cash flow, and leverage to increase stock return and the company’s value.
Related Party Transactions and Corporate Governance in Business Group: Evidence from Indonesia Santosa, Perdana Wahyu; Rahayu, Sovi Ismawati; Simon, Zainal Zawir; Tambunan, Martua Eliakim
Journal of Economics, Business, and Accountancy Ventura Vol. 25 No. 1 (2022): April - July 2022
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v25i1.2719

Abstract

This paper aims to offer new evidence as to how sub-related party transactions (RPTs) can be related to corporate governance for Indonesia's business group. We address an ongoing theoretical tension and some recent research in the RPTs literature by focusing on revenue, expenses, loans, and receivables. Business groups are classified by size or market capitalization. This paper examines whether RPTs in the business group relate with domestic/foreign shareholders, independent board/commissioner, and firm size as controlling factors. The business groups wereselected through purposive sampling that met the analysis criteria with their typology in the population of business groups listed on IDX. We used panel data analysis for four models. This relationship is more pronounced than some recent research for business group firms and firms with more highly concentrated foreign ownership regarding the effect RPTs on revenue, expenses, loans, and receivables. Related to the controlling variable, firm size shows a significant effect on every sub RPTs. The results may imply that foreign ownership exploits Indonesia with expenses such as cross-border transactions of capital goods, intangible property (royalty), intra-firm services, and the cost of debt. Therefore, there is a need for a balanced interest for government and business in Indonesia via foreign directinvestment with corporate governance implementation and adaptive regulation.
The effect of earning information, cash flow components, and financing decision on stock returns: empirical evidence on Indonesia stock exchange Kasmiati, Mia; Santosa, Perdana Wahyu
Journal of Economics, Business, and Accountancy Ventura Vol. 22 No. 2 (2019): August - November 2019
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v22i2.1638

Abstract

Trading, Service, and Investment sectors show an essential role in the national economy, and they have grown significantly during the past years. They have created many job opportunities in both the formal sector and the non-formal sector. This study aims to analyze the effect of net profit, operating cash flow, financing cash flow and investing cash flow and, financing decisions on stock’s return of service industry listed at Indonesia Stock Exchange (IDX). The analysis was done using the data panel regression. It shows that earning information, operating cash flow, financing cash flow positively affect stock returns. However, investing cash flow and financing decisions (proxy leverage) show a negative effect on the stock's return significantly. Simultaneously, the variables above affect stock return significantly. The implication is that management should pay more attention to financial factors, especially net profit, cash flow, and leverage to increase stock return and the company’s value.
The Effect of Corporate Characteristics on Capital Structure in Indonesia Albart, Nicko; Sinaga, Bonar Marulitua; Santosa, Perdana Wahyu; Andati, Trias
Journal of Economics, Business, and Accountancy Ventura Vol. 23 No. 1 (2020): April - July 2020
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v23i1.2153

Abstract

This study aims to determine the effect of corporate characteristics on the company's capital structure, which plays a fundamental role in the proportion of debt and equity financing risks. The research method used is purposive sampling. This research's population is non-financial issuers listed on the Indonesia Stock Exchange with quarterly data for the period of 2010-2017. The analysis is performed using panel data with six independent variables and two control variables. The results of this study indicate that profitability and institutional ownership have a negative effect on capital structure. In contrast, market ratios, firm size, and managerial ownership have a positive effect on capital structure. Debt decision making must consider financial and ownership characteristics, especially if there is institutional or government ownership in the company because company characteristics have a significant effect on the company's capital structure.
Related Party Transactions and Corporate Governance in Business Group: Evidence from Indonesia Santosa, Perdana Wahyu; Rahayu, Sovi Ismawati; Simon, Zainal Zawir; Tambunan, Martua Eliakim
Journal of Economics, Business, and Accountancy Ventura Vol. 25 No. 1 (2022): April - July 2022
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v25i1.2719

Abstract

This paper aims to offer new evidence as to how sub-related party transactions (RPTs) can be related to corporate governance for Indonesia's business group. We address an ongoing theoretical tension and some recent research in the RPTs literature by focusing on revenue, expenses, loans, and receivables. Business groups are classified by size or market capitalization. This paper examines whether RPTs in the business group relate with domestic/foreign shareholders, independent board/commissioner, and firm size as controlling factors. The business groups wereselected through purposive sampling that met the analysis criteria with their typology in the population of business groups listed on IDX. We used panel data analysis for four models. This relationship is more pronounced than some recent research for business group firms and firms with more highly concentrated foreign ownership regarding the effect RPTs on revenue, expenses, loans, and receivables. Related to the controlling variable, firm size shows a significant effect on every sub RPTs. The results may imply that foreign ownership exploits Indonesia with expenses such as cross-border transactions of capital goods, intangible property (royalty), intra-firm services, and the cost of debt. Therefore, there is a need for a balanced interest for government and business in Indonesia via foreign directinvestment with corporate governance implementation and adaptive regulation.
Co-Authors Abshar, Muhammad Albart, Nicko Amanda, Dinda Ardelia Any Setianingrum Any Setianingrum, Any Apriadi, Intan Asaari, Masagus Bonar Marulitua Sinaga Budiantoro, Harry Dean Salomo Kumenaung Donanti, Elita DWI SURYANTO Eindye Taufiq, Eindye Kasmiati, Mia Lapae, Kanaya Maghfur, Rafly fata Martua Eliakim Tambunan Mustafa, Faiz Ningsih, Hestin Agus Tantri Noviyanti, Cahyani Rahma Nurisma, Firra Nurul Huda Oktavia, Dinda Palloge, Arya Narendra Andi Primadini, Adinda Putri, Arimbi Eka Roselli, Salsabila Roy Sembel Salsabila, Aulia Zikra Saputra, Wahyu Dwi Shaleh, Khairul Sovi Ismawati Rahayu, Sovi Ismawati Subing, Hesti Juni Tambuati Subing, Hesty Juni Tambuati Sudarmadi, Muhammad Azmi Syauqirrahman Suhaeri Suhaeri, Suhaeri Tantri Ningsih, Hestin Agus Trias Andati Wiratama, Lison Yuaniko Paramitra Zahra, Nurfadhilah Zainal Zawir Simon, Zainal Zawir Zhafiraah, Nazma Riska