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All Journal Journal of Business and Management The Indonesian Journal of Business Administration JAM : Jurnal Aplikasi Manajemen The Asian Journal of Technology Management (AJTM) Jurnal Bisnis dan Manajemen Jurnal Riset Akuntansi dan Keuangan Journal of Economic, Bussines and Accounting (COSTING) Jurnal Ilmiah Administrasi Bisnis dan Inovasi TECHNOBIZ : International Journal of Business Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Journal Research of Social Science, Economics, and Management
Subiakto Soekarno
School of Business and Management, Institut Teknologi Bandung, Indonesia
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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The Application Of Dividend Yield-Based Investment Strategyin The Indonesia Stock Exchange (Case Study Of Idx High Dividend 20 For The Period 2018-2022) Muhammad Rizky Amin; Subiakto Soekarno
Journal of Economic, Bussines and Accounting (COSTING) Vol 7 No 1 (2023): COSTING : Journal of Economic, Bussines and Accounting
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v7i1.6315

Abstract

The growth of the stock market in Indonesia has been rapid, in 2022 total of 10.3 million investors counted. To maximize their portfolios, investors seek simple and applicable investment strategies. One such strategy, based on dividend yield, is gaining popularity in the United States but remains underutilized in Indonesia. The Research aims to analyze the application of dividend yield-based investment strategies on the Indonesian stock exchange, particularly in the IDX High Dividend 20 stock index, to determine if it can produce results similar to the Dow Jones stock index. Historical data from 2018 to 2022 on IDX High Dividend 20 stocks, including closing prices at the end of the year and annual dividends, were used to calculate dividend yield and form a portfolio consisting of the top 10 stocks with the highest yield. This approach is called The Dogs of the Dow, where in this research, the other variants of the Dog of the Dows such as Dog of the Dows X (Dow 7), Top Low 5 (Dow 5), Top Low 4 (Dow 4), and Fund allocation 4 (Foolish 4) were utilized. Results show that dividend yield-based investment strategies are simple to apply and can provide high performance, making them a profitable option for investors. Keywords: Indonesian stock exchange, dividend yield, IDX high dividend 20, The Dogs of the Dow, and investment strategy.
Financial Service Company Fair Valuation by Using the Excess Return Model, Case Study of PT. BPR Fajar Warapastika Nugok, M. Dye Ralang; Soekarno, Subiakto
TECHNOBIZ : International Journal of Business VOL 6, NO 2 (2023) : OKTOBER
Publisher : Universitas Teknokrat Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33365/tb.v6i2.3195

Abstract

In the evolving financial landscape of Indonesia, the consolidation of rural banks has been identified as a potentially significant trend. Given the escalating consolidation trend among rural banks in Indonesia, accurate company valuation has become crucial in enabling strategic decision-making, particularly in potential shareholder exit activities or divestment. The objective is to assess the fair valuation of PT. BPR Fajar Warapastika, a rural bank located in Lampung, by using an Excess Return Model. The Excess Return Model, chosen for its robust evaluation of intrinsic company value, takes into account the cost of equity, expected return on equity, and book value of equity. This comprehensive analysis is augmented by an assessment of significant financial ratios, including Capital Adequacy Ratio, Non-Performing Loan, Return on Asset, Operating Expense to Operating Revenue, Loan to Deposit Ratio, and Cash Ratio. This approach offers a holistic insight into the company's financial health and performance.
Analisis Faktor Eksternal dan Internal Pada Perbankan Digital di Bursa Efek Indonesia: Studi Kasus Allo Bank Muhammad, Hemadanda; Soekarno, Subiakto
Jurnal Ilmiah Administrasi Bisnis dan Inovasi Vol 8 No 2 (2024)
Publisher : FAKULTAS ILMU ADMINISTRASI UNIVERSITAS DR SOETOMO SURABAYA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25139/jiabi.v8i2.8690

Abstract

The banking industry is one of the fastest growing and most interesting industries in Indonesia. The banking industry contributes significantly to the Indonesian economy. The development of the banking industry cannot be separated from the influence of technology and massive technological adaptation in Indonesia. The banking industry has begun to create new business models and forms, namely digital banks. Digital banks in Indonesia have attracted a lot of attention because of the new technology they bring and the performance of digital bank shares which have increased significantly in 2021. The increase in the price of digital bank shares did not continue into the following year and continued to decline. One of the digital banks that experienced a significant decline in share prices was Allo Bank. Allo Bank experienced a significant decline in shares even though Allo Bank's performance increased significantly. This study will conduct an external analysis study using the PESTEL and Porter's five forces methods to see the macro and industrial conditions of banking in Indonesia and conduct an internal analysis using a risk-based bank rating to see the performance and health of the bank. External analysis shows that the macro and banking industry show positive opportunities for Allo Bank to develop and internal analysis shows that Allo Bank has very good performance among other digital banks.
Valuing and Financing Early Seed Internet Media Company (Case Study: PT ABC) Rachman, Febryansyah Djatu; Soekarno, Subiakto
Jurnal Aplikasi Manajemen Vol. 11 No. 2 (2013)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/

Abstract

With increasing Internet penetration rate in Indonesia, Indonesia has the potential for being one of the biggest internet user countries. Businesses dwelling on digital marketing and media investment is a new thing in Indonesia. This business has bright prospects and great potential, yet it comes with great uncertainty as well. Thus, only a handful of investors dare to invest in the Internet business world; however, foreign investors with extensive views and insights and considering the future development of Indonesia's economy, do not hesitate to put their money on digital media and advertising business. The internet media business is one of the most competitive yet lucrative industries in the world today. Expected as one of the fastest growing business, internet offers freedom to everybody interested to dive in the business. Considering the prospect of the industry, many entrepreneurs establish a new firm and dive in the business, even oftenwithout adequate resources, therefore they find several hindrances business. A new start-up business is difficult to value, particularly those which focus on high technology and intangible sector. Some of the companies have no revenues, operating losses, even some just don't realize the idea and business plan yet. The reason of the difficulty in valuing new start-up companies is the incomplete financial report or financial statement as well as lack of business activity report. This thesis will cover the financing strategy for a new start-up business, exploring the venture capital funding scheme that supports the development of the company.
Financial Feasibility Analysis of an Autoclaved Aerated Concrete (AAC) Manufacturing Plant in East Kalimantan (Study Case of PT XYZ) Paliling, Allensius; Soekarno, Subiakto
Dinasti International Journal of Economics, Finance & Accounting Vol. 7 No. 1 (2026): Dinasti International Journal of Economics, Finance & Accounting (March-April 2
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v7i1.6346

Abstract

This study evaluates the financial feasibility of establishing an autoclaved aerated concrete (AAC) manufacturing plant in East Kalimantan, a region experiencing rapid construction growth driven by the development of Indonesia’s new capital city. The analysis is conducted using a discounted cash flow approach within a capital budgeting framework. The financial model incorporates detailed assumptions on capital expenditure, revenue projections, cost structure, and financing structure within a ten-year projection horizon. Key feasibility indicators include Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), and Profitability Index (PI), with the Weighted Average Cost of Capital (WACC) applied as the discount rate. The results indicate that the project is financially feasible, generating a positive NPV of IDR 104.738.902.831 and an IRR of 20.69%, exceeding the WACC of 10.07%, with a Payback Period of 5.3 years and a Profitability Index of 1,58. Overall, the findings suggest that the proposed AAC manufacturing plant is commercially viable, capable of supporting regional construction demand while significantly reducing cost dependency on inter-island AAC transportation from Java.
Co-Authors Adhi Nugraha Azhari, Dhinda Arisyiya Chandra Eka Putra Didik Sugeng Kunariadi Dwijayanti, Mita Eggy Muhammad Prayoga Faqih Ahmad Muzakky Febryansyah Djatu Rachman Fitria Ulina Meliala Indra Yudha Mambea Kinanthi, Enggar Sukma Lupita Putri Madiasta Sricista Marlisa Lukmana Maya Damayanti, Sylviana Meidita Agustina Melda Natalina, Melda Muhammad Rizky Amin Muhammad, Hemadanda Nugok, M. Dye Ralang Paliling, Allensius Rachmat, Eraulia Nadinda Radhitya Avila Farizan Rininta Rizkia Okitanya Samsu Wibowo, Putri Maharani Vera Florida, Vera Wiweka Reksa Whuana, Wiweka Reksa