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All Journal Jurnal Manajemen dan Agribisnis Jurnal Ekonomi Jurnal Ilmiah Ranggagading (JIR) JDM (Jurnal Dinamika Manajemen) JAM : Jurnal Aplikasi Manajemen Indonesian Journal of Business and Entrepreneurship (IJBE) Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal Jurnal Bisnis dan Manajemen JRMSI - Jurnal Riset Manajemen Sains Indonesia JURNAL AKUNIDA JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) Journal of Humanities and Social Studies Jurnal Proaksi Akurasi : Jurnal Studi Akuntansi dan Keuangan International Journal of Economics, Business and Accounting Research (IJEBAR) Jurnal Ilmiah Manajemen Kesatuan Jurnal Bisnis dan Kewirausahaan (Journal of Business and Entrepreneurship) Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi International Journal of Economy, Education and Entrepreneurship (IJE3) International Journal of Engagement and Empowerment (IJE2) Jurnal Bina Bangsa Ekonomika International Journal of Multidisciplinary Research and Literature (IJOMRAL) Rudence: Rural Development for Economic Resilience Utsaha: Journal of Entrepreneurship International Journal Administration, Business & Organization Essence: Entrepreneurship and Small Business Research for Economic Resilience International Journal of Science and Environment Journal of Business, Social and Technology International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC) International Journal of Management Research and Economics
Hendro Sasongko
Faculty Economic, Pakuan University
Agriculture, Biological Sciences & Forestry Arts Humanities Biochemistry, Genetics & Molecular Biology Chemical Engineering, Chemistry & Bioengineering Chemistry Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Physics Social Sciences Other

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PERSEPSI LURAH MENGENAI FAKTOR-FAKTOR YANG MEMENGARUHI KINERJA KELURAHAN DALAM PEMUNGUTAN PBB P2 Jaka Wiramanggala; M Firdaus; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 3 No. 1 (2017): JABM Vol. 3 No. 1, Januari 2017
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.3.1.113

Abstract

The objective of the research is to analyze the distribution of P2 property tax receipts in Bogor, define the factors that influence the performance of the district in relation with the P2 property tax receipts and formulate the strategy in increasing the P2 property tax receipts.  The method used to analysis the data is validity test, descriptive statistic analysis, logistic regression and Importance Performance Analysis (IPA).  The analysis is to observe the suitable strategy to be used to increase the district performance in P2 property tax receipts.  The entire data processing level in this research is using SPSS 17software.  The result shows that the distribution of P2 property tax receipts in Bogor is fairly balanced and proportional; other factors like the age, gender, education level of the District head (Lurah), the public awareness and the socialization of PBB have a positive impact in the achievement of PBB receipts. The strategic formulation to increase both the  performance of the district and  the property tax receipts have to consider these variables; the corresponding between PBB and the land area and building, government direct counseling on PBB, the government’s regulation clarity on PBB, the public keep the PBB receipt proof, the balance between realization and proportional target and the target is assigned suitable to the zone/area/ZNT.   Keywords:   kelurahan (district) performance, PBB P2 receipts, logistic regression analysis, IPA AbstrakPenelitian ini bertujuan menganalisis sebaran penerimaan PBB P2 Kota Bogor, menganalisis faktor yang memengaruhi kinerja kelurahan dalam pemungutan  PBB P2 dan merumuskan strategi untuk meningkatkan penerimaan PBB P2. Metode analisis data menggunakan uji validitas, analisis statistik deskriptif, regresi logistic dan Importance Performance Analysis (IPA). Analisis ini digunakan untuk mengetahui strategi apa saja yang dapat digunakan untuk meningkatkan kinerja kelurahan dalam hal penerimaan PBB P2 di Kota Bogor. Semua tahap pengolahan data penelitian ini menggunakan alat perangakat lunak SPSS 17. Hasil penelitian menunjukkan bahwa sebaran penerimaan PBB P2 Kota Bogor cukup seimbang dan proporsional, faktor-faktor seperti usia lurah, jenis kelamin lurah, tingkat pendidikan lurah, kesadaran masyarakat dan sosialisasi PBB berpengaruh positif terhadap pencapaian target PBB P2 kelurahan. Perumusan strategi untuk meningkatkan kinerja kelurahan dalam hal peningkatan penerimaan PBB P2 harus memperhatikan variabel-variabel berikut yakni kesesuaian antara PBB dan luas tanah dan bangunan, penyuluhan pemerintah tentang PBB ke masyarakat secara langsung, kejelasan peraturan pemerintah mengenai PBB, masyarakat menyimpan bukti pembayaran PBB, keseimbangan antara realisasi dan target secara proporsional, dan target ditetapkan sesuai wilayah/area/ZNT.Kata kunci: kinerja kelurahan, penerimaan PBB P2, analisis regresi logistik, IPA
FAKTOR-FAKTOR YANG MEMENGARUHI TINGKAT KOLEKTIBILITAS PEMBIAYAAN SEKTOR UMKM (STUDI KASUS : BANK SYARIAH XYZ KANTOR CABANG JAKARTA BARAT) Raden Yogi Arieffiandi; Muhamad Firdaus; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 2 No. 3 (2016): JABM Vol. 2 No. 3, September 2016
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.2.3.291

Abstract

The objectives of this study are to analyze the factors that affect the financing collectability in XYZ Sharia Bank branch office in West Jakarta, to formulate and recommend a strategic planning of the bank to reduce the level of Non-Performing Loans (NPF) in the future. Logistic regression and SWOT matrix were utilized as the methods of this study. Thus, the results showed that the factors influencing the financing collectability of XYZ Sharia Bank customers are financing agreement types, margin/profit sharing equivalent rate, economic sectors, and value of the company Altman Z-Score. From the analyses of both external and internal factors, it reveals that strategic factors are identified to reduce the value of NPF in XYZ Sharia Bank West Jakarta i.e. by performing defensive actions. The assessment results of the strategy in XYZ Islamic Bank, West Jakarta, in terms of SWOT in tightening the cost analysis of SME sector, are as follow: carrying out the process of cost analysis more carefully and thoroughly, and conducting HR personnel training, or sharing with other branches in the neighboring areas, anticipating over assessment by adopting an independent assessor, performing more detailed screening in doing financing disbursement, and maximizing the existing internal regulations related to the financing facility.Keywords: Collectable financing, logistic regression, SWOT, Altman Z-Score, SMEABSTRAKTujuan dari penelitian ini adalah menganalisis faktor-faktor yang berpengaruh terhadap kolektibilitas pembiayaan pada Bank Syariah XYZ kantor cabang Jakarta Barat dan merumuskan dan merekomendasikan perencanaan strategis Bank Syariah XYZ dalam rangka menekan tingkat Non Performing Loans (NPF) di masa yang akan datang. Metode penelitian ini menggunakan regresi logistik dan matriks SWOT. Hasil dari penelitian ini diperoleh faktor-faktor yang memengaruhi kolektibilitas pembiayaan oleh nasabah Bank Syariah XYZ adalah Jenis akad pembiayaan, tingkat equivalent rate margin/bagi hasil, sektor ekonomi, dan nilai Altman Z-Score perusahaan. Hasil analisis lingkungan eksternal dan lingkungan internal diperoleh faktor-faktor strategis yang dapat dimanfaatkan dalam menekan nilai NPF pada Bank Syariah XYZ Jakarta Barat dengan melakukan tindakan defensif. Hasil evaluasi strategi Bank Syariah XYZ Kantor Cabang Jakarta Barat dari segi SWOT dalam memperketat analisis pembiayaan sektor UMKM antara lain: melakukan proses analisis pembiayaan dengan lebih hati-hati dan menyeluruh, melakukan pelatihan tenaga SDM atau dengan melakukan sharing dengan cabang lain dalam wilayah yang berdekatan, mengantisipasi over penilaian dengan menggunakan penilai independen, melakukan screening lebih detail pada saat melakukan pencairan pembiayaan, dan memaksimalkan peraturan internal yang ada terkait pemberian fasilitas pembiayaan.Kata kunci: kolektibilitas pembiayaan, regresi logistik, SWOT, Altman Z-Score, UMKM
Efisiensi Anggota Bursa Guna Meningkatkan Daya Saing Bisnis Pada Era Masyarakat Ekonomi ASEAN Muhammad Rifqi Syauqi; Dedi Budiman Hakim; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 4 No. 2 (2018): JABM Vol. 4 No. 2, Mei 2018
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.4.2.191

Abstract

Capital market could provide better financing for companies and offer prospective investment for public. However, capital market has not fully absorbed the potential economics in Indonesia. The efficiency of Securities Company (brokers) in Indonesia should be optimized by the regulator to be able to compete with that from other countries. This paper measured the efficiency level of brokers and their effect on business competitiveness by using the Data Envelopment Analysis (DEA) approach and the regression model. The results found that the efficiency of brokers was relatively low i.e. approximately 0,22. The vast number of brokers with limited capital caused this low efficiency. Brokers with larger-scale companies have a higher efficiency than the smaller ones. The joint venture brokers are relatively efficient, for they usually have large capital. The minimum requirement of Net Adjusted Working Capital (NAWC) is insufficient to strengthen the competitiveness of brokers, and it should be increased from Rp25 billion to Rp100 billion. The increase in this capital is expected to encourage brokers to become more competitive in ASEAN market.Keywords: Competitiveness, Data Envelopment Analysis (DEA), efficiency, Indonesia Stock Exchange (IDX), securities companyAbstrak: Pasar modal belum sepenuhnya optimal memanfaatkan potensi ekonomi Indonesia. Perbankan masih menjadi sumber utama penggerak ekonomi padahal pasar modal menyediakan pilihan yang lebih baik dalam memenuhi kebutuhan pembiayaan perusahaan maupun intsrumen investasi bagi masyarakat. Rendahnya efisiensi Anggota Bursa (AB) dalam menjalankan bisnis transaksi efek perlu diperhatikan regulator agar pasar modal Indonesia mampu bersaing dengan negara lain. Penelitian ini melihat tingkat efisiensi AB dan pengaruhnya terhadap daya saing bisnis transaksi efek melalui Data Envelopment Analysis (DEA) dan model regresi. Berdasarkan hasil analisis diperoleh bahwa efisiensi AB masih rendah sekitar 0,22. Banyaknya AB bermodal terbatas menyebabkan rendahnya efisiensi ini. AB dengan skala perusahaan lebih besar memiliki efisiensi lebih tinggi dibandingkan AB yang skalanya kecil. AB joint venture tentu relatif efisien karena biasanya memiliki modal yang besar. Persyaratan minimum Modal Kerja Bersih Disesuaikan (MKBD) dinilai belum cukup memperkuat daya saing AB dan sebaiknya ditingkatkan dari Rp25 miliar menjadi Rp100 miliar sesuai hasil estimasi dengan model regresi. Kenaikan MKBD ini diharapkan mendorong AB agar lebih kompetitif dan mampu menguasai pasar di kawasan ASEAN.Kata kunci: Bursa Efek Indonesia (BEI), Data Envelopment Analysis (DEA), daya saing, efisiensi, perusahaan sekuritas
Pengaruh Profitabilitas, Sruktur Modal, Dan Likuiditas Terhadap Nilai Perusahaan Ignatius Leonardus Lubis; Bonar M Sinaga; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 3 No. 3 (2017): JABM Vol. 3 No. 3, September 2017
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.3.3.458

Abstract

The purpose of this study was to determine the influence and formulate recommendations from the ROE, DER san LDR. This research is a causal with quantitative approach. Independent variable is the profitability, capital structure and liquidity, while the dependent variable is the value of the company. Analysis of the data used is inferential statistical analysis. This study uses panel data regression analysis were processed using software eviews 8.From the results of the study stated that ROE, DER and LDR had effected PBV simultaneous and variable of ROE has positive and significant to company value.Keywords: capital structure, corporate value, inferential statistic, liquidity, profitabilityAbstrak: Tujuan penelitian ini adalah untuk mengetahui dan memformulasi rekomendasi pengaruh profitabilitas, struktur modal dan likuiditas terhadap nilai perusahaan pada bank yang go public periode tahun 2011–2014.Analisis data yang digunakan adalah analisis statistic inferensial. Penelitian ini juga menggunakan analisis regresi data panel. Dari hasil penelitian menyatakan bahwa return on equity (ROE) berpengaruh positif dan signifikan terhadap PBV sehingga perusahaan perlu memperhatikan dan terus meningkatkan ROE dengan cara mengambangkan prospek kegiatan dalam rangka untuk peningkatan laba. Nilai probabilitas terbesar adalah ROE jika dibandingkan dengan variabel independen lainnya. Oleh karena itu ROE dapat dipakai sebagai prediktor dalam memprediksi tentang nilai perusahaan.Kata kunci: likuiditas, regresi, profitabilitas, statistik inferensiala, struktur modal 
Faktor Internal dan Eksternal yang Memengaruhi Underpricing pada Saat IPO di Bursa Efek Indonesia Kemas Nurcholish Thoriq; Sri Hartoyo; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 4 No. 1 (2018): JABM Vol. 4 No. 1, Januari 2018
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.4.1.19

Abstract

This study aims to examine the variables that influenced the underpricing stock price when the company put its initial public offering in Indonesia Stock Exchange of the 2010-2015 period. The dependent variable in this study was underpricing measured by the value of initial returns, while the independent variables included ROA, DER, company age, company size, type of Industry, underwriter’s reputation, exchange rate and inflation. The data used in this study were secondary data collected by using purposive sampling method. The samples of 135 companies from were taken from 137 population companies conducted IPOs from 2010-2015 in Indonesia Stock Exchange. This study used logistic regression for data analysis. The results of this study showed that ROA, DER, age and inflation influenced the level of underpricing is proven. Other variables influencing the level of underpricing is not proven. This research model showed that the independent variables explained the variation in the level of underpricing of 89.6%.Keywords: underpricing, internal and external factors, ROA, DER
STRATEGI STRUKTUR MODAL INDUSTRI KEUANGAN NON BANK PADA BISNIS MICROFINANCE (STUDI KASUS PADA PT. XYZ): CAPITAL STRUCTURE STRATEGY OF THE NON-BANK FINANCIAL INDUSTRY IN THE MICROFINANCE BUSINESS (CASE STUDY AT PT. XYZ) Epiet Dwi Anggoro; Nimmi Zulbainarni; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 6 No. 1 (2020): JABM Vol. 6 No. 1, Januari 2020
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.6.1.106

Abstract

PT. XYZ is the non-bank institutions with a special task in empowering UMKM that has different funding sources. Funding sources affect the capital structure and business activities. Thus, the development of the capital structure of PT. XYZ needs to be studied, along with the impact of the funding sources types on PT. XYZ strategy and sustainability. Financial reports and in-depth interviews of experts were collected. WACC, SWOT and QSPM used to analyze the capital structure and corporate strategic planning. The results showed that the capital structure of PT XYZ came from capital deposits and government programs, and it increased by getting loans from financial institutions and capital market instruments. The capital market instruments, as the optimal funding source, influenced profit parameters and development agents. PT XYZ's primary chosen strategy was business expansion. Keywords: microfinance, optimal capital structure, QSPM, strategic management, WACC Abstrak: PT. XYZ adalah salah satu lembaga keuangan non bank yang mendapat tugas khusus dalam pemberdayaan UMKM dan memiliki sumber pendanaan yang berbeda dimana akan mempengaruhi struktur modal dan kegiatan bisnis perusahaan. Oleh karena itu, diperlukan penelitian untuk menganalisa perkembangan capital structure PT. XYZ, pengaruh dan dampak dari jenis sumber-sumber pendanaan terhadap sustainable PT. XYZ, serta strategi perusahaan. Data laporan keuangan dan depth interview pakar diolah untuk menganalisis struktur modal dan perencanaan strategi perusahaan menggunakan Weighted Average Cost of Capital (WACC), SWOT (Strengths, Weakness, Opportunitiess, Threats) dan QSPM (Quantitative Strategic Planning Matriks). Hasil penelitian menunjukkan bahwa struktur modal PT XYZ pada awalnya berasal dari setoran modal dan program pemerintah dan bertambah dengan pinjaman lembaga keuangan dan instrumen pasar modal seiring dengan pertumbuhan usaha. Penggunaan instrumen pasar modal sebagai sumber pendanaan optimal perusahaan memberikan pengaruh dan dampak yang positif pada parameter profit dan development agent. Strategi utama terpilih PT XYZ adalah ekspansi bisnis. Kata kunci: microfinance, struktur modal, QSPM, manajemen strategik, WACC
PENGARUH TAX AMNESTY TERHADAP PROFITABILITAS PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Ali Akil Parlindungan Siregar; Noer Azam Achsani; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 7 No. 1 (2021): JABM Vol. 7 No. 1, Januari 2021
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.7.1.86

Abstract

Tax amnesty policy in Indonesia has an impact on companies listed on the Capital Market. Companies that take advantage of tax amnesty can be identified from the increase in net assets and equity. This increase results in an increase or decrease in profitability and may affect investors' interest in investing. This research aimed to analyze the influence of tax amnesty and internal and external factors on the company's profitability. This study's samples are companies listed on the main board of the Indonesia Stock Exchange between 2013 and 2018. Panel data regression was used in this study to analyze the data. The result showed that tax amnesty had a significant negative effect on profitability. Internal factors that had a significant positive effect on profitability were current ratio and total asset turnover, while debt to equity ratio negatively affected profitability. External factors that had a significant positive effect on profitability were interest rates and rupiah exchange rates. Tax amnesty negatively affected profitability resulting in corporate profits declining dramatically during the tax amnesty program. Based on the results, it could be concluded that several factors could affect profitability, such as tax amnesty policy, internal factors, and external factors of the company. Keywords: external factors, internal factors, panel data regression, profitability, tax amnesty
SIPADU MATURITY LEVEL EVALUATION USING COBIT 4.1: CASE STUDY OF GEOSPATIAL INFORMATION AGENCY Imam W Sukoco; Irman Hermadi; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 7 No. 1 (2021): JABM Vol. 7 No. 1, Januari 2021
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.7.1.179

Abstract

Public financial management transparency and accountability is one of the implementations of good governance. The Geospatial Information Agency (BIG) has developed the Integrated Budget Implementation Information System (SIPADU) application to monitor the government's financial management to achieve accountable and transparent financial management. SIPADU has been built and used, but its implementation has not yet achieved an optimal function. This study found that it is related to the SIPADU management evaluation, maturity level, and SIPADU governance improvement. This study aimed to analyze SIPADU maturity level using the COBIT 4.1 approach. The sampling method used was purposive sampling, and the respondents were users and administrators of SIPADU. Interviews were conducted, in addition to the questionnaire results measurement. The data were calculated to determine the maturity level. The results showed that the SIPADU maturity level was still level 3 below the expected level, namely level 4. The agency's management is recommended to develop SIPADU. Keywords: COBIT 4.1, Level of Maturity, SIPADU
PENGARUH KARAKTERISTIK DEWAN KOMISARIS TERHADAP KINERJA KEUANGAN PERUSAHAAN. STUDI KASUS PADA BUMN PERSERO TERBUKA TAHUN 2014-2018 Awal Susmanto; Arief Daryanto; Hendro Sasongko
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 7 No. 2 (2021): JABM Vol. 7 No. 2, Mei 2021
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.7.2.498

Abstract

In the corporate governance mechanism, the board of commissioners with its characteristics has a strategic role to increase the value of the company through the process of monitoring the management of the company by the board of directors. This study aims to analyze the effect of the characteristics of the board of commissioners on company performance (ROE and Tobin's Q) in public listed SOEs on the IDX for the 2014-2018 period. By using panel data regression analysis, the results show that the number of independent commissioners and the age of the board of commissioners has a significant positive effect on firm performance (ROE and Tobin's Q), while the educational level of board members and board meetings has a positive effect on ROE but has a negative effect on Tobin's Q. Meanwhile, the number of commissioners does not have a significant effect on ROE, but has a positive effect on Tobin's Q. The findings of this study can be used as a consideration for shareholders, in this case the Ministry of SOEs for the improvement of corporate governance mechanisms, especially in the aspect of the board of commissioners. Keywords: board of commissioner, SOEs, corporate governance, firm financial performance, Ministry of SOEs
Financial Distress Analysis of The Sminfra18 Index Share Return on Indonesia Stock Exchange Yuliandi Yuliandi; Dedi Budiman Hakim; Hendro Sasongko
Jurnal Proaksi Vol 8 No 2 (2021): Juni - Desember
Publisher : Fakultas Ekonomi, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v8i2.1849

Abstract

The construction sector in Indonesia has a strategic contribution to the national economy. This can be seen clearly by the increasing development of office buildings, hotels, apartments and malls as well as road construction projects, toll roads, flyovers, and so on, this will have an impact on improving Indonesia's infrastructure. Along with the increase in market capitalization on the SMinfra18 Index, it becomes ironic when it is not accompanied by the performance, volume and value of the SMinfra18 Index which is still volatile. It is feared that this will lead to financial distress as a result of the Global Financial Crisis, so that many companies cannot fulfill their obligations to banks. Basically, financial distress becomes an interesting thing that business stakeholders need to know, especially management and investors. For management to be able to manage and maintain business performance, while for investors as an indicator of investment activities. The purpose of the study is related to 1) The condition of the financial performance of companies listed in SMInfra18. 2) Factors that affect SMInfra18 financial distress and 3) The relationship between financial distress and stock returns in SMInfra18. The analysis method used is panel data regression using Debt Service Coverage Ratio, Profitability Ratio (ROE), Liquidity Ratio (WC / TA), Activity Ratio (TATO), Efficiency Ratio (EBITDA / TA) and Leverage Ratio (DAR). The results provide an illustration that there are differences and financial distress conditions in each company and the grouping and conditions of financial distress and stock returns have not been able to have a unidirectional relationship from time to time.
Co-Authors Abrar Setiawan Achyar Rasyidi Achyar Rasyidi, Achyar Agung Fajar Ilmiyono Agus Setyo Pranowo Aldillah, Zhafira Huriya Ali Akil Parlindungan Siregar Alipudin, Asep Amelia, Rizka Wahyuni ANGGRAENI, ADITHIA Anggraini, Anggun Anneke Puspasari Annisa Tiaranti Anny Ratnawati Arief Daryanto Arief Daryanto Arif Kurniadi Asto Hadiyoso Awal Susmanto Azizah Bonar M Sinaga Cosmas A.I. Wardojo D S Priyarsono Dani Rahman Hakim, Dani Rahman Danika Reka Artha Dedi Budiman Hakim Dessy Herlisnawati Devia Leviasari Dewi Apriani Dewi Apriani Fr DIAN LESTARI Dida Marhamah Dion Achmad Armadi Dwi Kurniawan, Dwi Eni Puji Astuti Epiet Dwi Anggoro Erliza Noor Faisal Azmi Fara Shaliza Hadiyoso, Asto Hamzah Hamzah Hamzah Hardiyanto, Arief Tri Hari Gursida Hari Gursida Hari Gursinda Hartoyo Hartoyo Haryadi Krisnandar Hasrul Hasrul Hendramiko Heni Nelawati Herman, Herman Hermanto Siregar Idqan Fahmi Ignatius Leonardus Lubis Imam W Sukoco Imbron, Imbron Indrayono, Yohanes Irman Hermadi Jaka Wiramanggala Kahiyang Ayu Kemas Nurcholish Thoriq Kurniawan, Prasetyo Lukytawati Anggraeni M Firdaus Maghfira Puti Gaisani Mailini, Dini Marhamah, Dida Marimin , Matdio Siahaan Maulida Aulia Rezki Muhamad Firdaus Muhammad Firdaus Muhammad Firdaus Muhammad Firdaus Muhammad Firdaus Muhammad Rifqi Syauqi Muharam, Hari N Rusnaeni Nimmi Zulbainarni Obed Fernando Harefa Pradana Jati Kusuma Raden Yogi Arieffiandi Retno Martanti Endah Lestari Riyani S. Saputri RIZKY P. LUBIS Rochman Marota Roy Sembel Rusmanah, Enok Santosa Santosa Saragih, Juliando Serarifi Elagin Harahap Shaliza, Fara Siahaan, Matdio Sianipar, Makmur Sri Hartoyo Sri Hartoyo Tintin Sarianti Tony Irawan Tridoyo Kusumastanto Vedi Oktavia Fitry Ani Wardani, Firmansyah Warizal Wihartika, Doni YOHANES INDRAYONO Yohannes Indrayono Yuary Farradia Yuliandi Yuliandi Yusman Syaukat yusnita, nancy