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Market Reaction to BI Rate Policy by Bank Indonesia in 2024 Using GLM-Repeated Measures: A Study of Property and Real Estate Companies on the Indonesia Stock Exchange Azizah, Elsia Nur; Hasnawati, Sri; Kusuma, Fajrin Satria Dwi
International Journal Of Education, Social Studies, And Management (IJESSM) Vol. 5 No. 2 (2025): The International Journal of Education, Social Studies, and Management (IJESSM)
Publisher : LPPPIPublishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52121/ijessm.v5i2.823

Abstract

This study focuses on examining the market reaction to the BI Rate increase on April 24, 2024 and the BI Rate decrease on September 18, 2024 in property and real estate sector companies listed on the Indonesia Stock Exchange. This study aims to analyze the market reaction to the BI Rate policy event by Bank Indonesia in 2024. This research uses a type of quantitative research using an event study approach. The method used is the General Linear Model (GLM) with Repeated Measures to test differences in Abnormal Returns and trading volume activity before and after the BI Rate policy announcement. Based on the sample taken, namely Property and Real Estate sector companies, 74 research samples were obtained using a window period of 7 days before and 7 days after the event. The results showed that there was no significant difference in Abnormal Returns and trading volume activity before and after the BI Rate increase and decrease. The findings indicate that there is no capital market reaction or in other words the BI Rate policy event by Bank Indonesia in 2024 has no information content that can be absorbed by investors.
Moderasi Kepemilikan Institusional terhadap Pengaruh Karakteristik Keuangan pada Dividen Tunai Putra, Budi Kirana; Hasnawati, Sri; Hendrawaty, Ernie
COMSERVA : Jurnal Penelitian dan Pengabdian Masyarakat Vol. 5 No. 1 (2025): COMSERVA: Jurnal Penelitian dan Pengabdian Masyarakat
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/comserva.v5i1.3133

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh karakteristik keuangan yang meliputi profitabilitas, likuiditas, leverage, arus kas bebas, dan ukuran perusahaan terhadap kebijakan pembayaran dividen pada perusahaan manufaktur di Indonesia, dengan mempertimbangkan peran moderasi kepemilikan institusional dalam kerangka teori keagenan. Studi ini menggunakan pendekatan kuantitatif berbasis data panel dari 85 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2010–2021. Analisis dilakukan menggunakan Moderated Regression Analysis (MRA) dengan pendekatan Fixed Effect Model (FEM), serta pengujian asumsi klasik untuk memastikan validitas model. Hasil penelitian menunjukkan bahwa likuiditas dan ukuran perusahaan berpengaruh positif signifikan terhadap pembayaran dividen, sementara profitabilitas, leverage, dan arus kas bebas tidak berpengaruh signifikan. Kepemilikan institusional hanya memoderasi hubungan antara likuiditas dan ukuran perusahaan terhadap dividen, namun tidak pada variabel lainnya. Penelitian ini berkontribusi dalam memperkaya literatur terkait peran ganda kepemilikan institusional sebagai mekanisme pengawasan eksternal pada pasar berkembang, serta memperjelas kompleksitas determinan kebijakan dividen di sektor manufaktur. Implikasi kebijakan yang diusulkan mencakup pentingnya memperhatikan faktor likuiditas dan skala perusahaan dalam merancang kebijakan dividen, serta mengoptimalkan kepemilikan institusional sebagai alat mitigasi konflik keagenan. Penelitian lanjutan disarankan untuk memasukkan variabel non-keuangan dan analisis lintas sektor guna memperluas generalisasi temuan.
Market Reaction to BI Rate Policy by Bank Indonesia in 2024 Using GLM-Repeated Measures: A Study of Property and Real Estate Companies on the Indonesia Stock Exchange Azizah, Elsia Nur; Hasnawati, Sri; Kusumah, Fajrin Satria Dwi
International Journal Of Education, Social Studies, And Management (IJESSM) Vol. 5 No. 2 (2025): The International Journal of Education, Social Studies, and Management (IJESSM)
Publisher : LPPPIPublishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52121/ijessm.v5i2.823

Abstract

This study focuses on examining the market reaction to the BI Rate increase on April 24, 2024 and the BI Rate decrease on September 18, 2024 in property and real estate sector companies listed on the Indonesia Stock Exchange. This study aims to analyze the market reaction to the BI Rate policy event by Bank Indonesia in 2024. This research uses a type of quantitative research using an event study approach. The method used is the General Linear Model (GLM) with Repeated Measures to test differences in Abnormal Returns and trading volume activity before and after the BI Rate policy announcement. Based on the sample taken, namely Property and Real Estate sector companies, 74 research samples were obtained using a window period of 7 days before and 7 days after the event. The results showed that there was no significant difference in Abnormal Returns and trading volume activity before and after the BI Rate increase and decrease. The findings indicate that there is no capital market reaction or in other words the BI Rate policy event by Bank Indonesia in 2024 has no information content that can be absorbed by investors.
The Effect of Esg Disclosure on Firm Value: (Empirical Study on Companies Listed in the IDX ESG Leader Index for the Period 2021–2023) Aditya, Meisha; Hasnawati, Sri
International Journal Of Education, Social Studies, And Management (IJESSM) Vol. 5 No. 2 (2025): The International Journal of Education, Social Studies, and Management (IJESSM)
Publisher : LPPPIPublishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52121/ijessm.v5i2.736

Abstract

The escalating threat of climate change has increasingly urged humanity to incorporate environmental considerations into various aspects of life, including investment decisions. This research investigates the influence of Environmental, Social, and Governance (ESG) disclosure on firm value among companies listed in the IDX ESG Leaders index during the period 2021–2023, utilizing stakeholder theory as the theoretical foundation. Employing a quantitative research design with purposive sampling, the study applies multiple linear regression analysis. The dependent variable, firm value, is proxied by the Price to Book Value (PBV), while the independent variables include aggregate ESG, Environmental, Social, and Governance disclosures, each measured using the Sustainability Report Disclosure Index (SRDI). The empirical findings reveal that aggregate ESG disclosure exerts a positive and statistically significant influence on firm value. Among the ESG components, Social Disclosure emerges as the only dimension with a significant and positive effect on firm value, whereas Environmental and Governance disclosures do not demonstrate any significant impact. These outcomes reflect the extent of investor confidence in firms that prioritize stakeholder engagement through robust ESG practices, particularly in social dimensions, thereby establishing a source of competitive advantage and enhancing firm valuation. This study offers practical implications for both corporate actors and investors by highlighting the strategic value of adopting ESG principles as non-financial instruments to support value creation and sustainable business growth.
PENYULUHAN PENGELOLAAN SDM DAN FINANCIAL LITERASI BAGI PENGELOLA DAN ANGGOTA KOPERASI KREDIT GENTIARAS DI KECAMATAN PRINGSEWU KABUPATEN PRINGSEWU LAMPUNG Hasnawati, Sri; Yuningsih, Yuningsih; Sari, Aida; Nabila, Nuzul Inas
Abdi Laksana : Jurnal Pengabdian Kepada Masyarakat Vol 3 No 2 (2022): Abdi Laksana : Jurnal Pengabdian Kepada Masyarakat
Publisher : LPPM Universitas Pamulang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32493/al-jpkm.v3i2.20306

Abstract

Koperasi merupakah salah satu soko guru perekonomian Indonesia. Kontribusi koperasi dan UKM terhadap PDB (pendapatan domestik bruto) nasional mencapai 56,5%. Kemenkop UKM mencatat, sampai saat ini 99% pelaku perekonomian Indonesia berasal dari koperasi dengan jumlah 177.483 unit, dan UKM yang berjumlah 52,7 juta unit.  Keberlangsungan  koperasi tergantung pada Sumber Daya Manusia dan bagaimana Mengelola Keuangan . Pengelolaan sumber daya manusia yang baik tidak terlepas dari perencanaan SDM  bagi pengelola pada khususnya dan anggota pada umunya. Pengelolaan keuangan koperasi diperlukan agar setiap keputusan keuangan yang dilakukan koperasi mampu memberi nilai tambah bagi para stakeholdersnya. Selain bagi pengelola,  anggota koperasi harus memahami bagaimana mengelola keuangan dengan baik dan melek keuangan (financial literacy). Untuk tujuan ini diperlukan adanya suatu penyuluhan mengenai pengelolaan SDM pada koperasi dan penyuluhan tentang financial literasi bagi pengelola dan anggotanya. Penyuluhan ini diharapkan mampu menambah wawasan dan pemahaman yang baik pagi pengurus maupun anggota koperasi tentang SDM dan manajemen keuangan.  Pengabdian masyarakat yang dilakukan dengan  metode penyuluhan  tentang pengelolaan SDM dan financial literasi bagi pengurus dan anggota KopDit Gentiaras di Kecamatan Pringsewu, Lampung berhasil dengan baik dan berjalan lancer. Hal ini dapat dilihat dari peningkatan pemahaman tentang pengelolaan SDM dan  financial literasi dari hasil posttest yang diperoleh. Oleh karena itu diperlukan dukungan dan pendampingan bagi pengurus dan anggotanya supaya dapat berkembangan guna mendukung perekonomian  masyarakat sekitar  dan pengelolaan koperasi secara professional.Kata Kunci : SDM, Financial Literasi, dan Koperasi Kredit
The Influence of Managerial Ownership, Company Growth and Profitability on Dividend Policy in LQ45 Companies 2019-2021 Magdalena Napitupulu, Maria; Hasnawati, Sri; Kufepaksi, Mahatma
Economic Education and Entrepreneurship Journal Vol 7, No 1 (2024): Economic Education and Entrepreneurship Journal (E3J)
Publisher : FKIP Universitas Lampung

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

Abstract

Dividend policy is a decision about how much of current earnings will be paid out as dividends rather than retained earnings which will then be reinvested in the company. dividend policy can be measured through the dividend payout ratio (DPR). The ratio shows the percentage of the company's earnings that are paid out to shareholders in cash. Companies that have a high DPR and increase from year to year can provide positive signals to investors, because dividend announcements can be used as information by shareholders regarding company performance. This study aims to determine the effect of managerial ownership, company growth, profitability on dividend policy in LQ45 companies 2019-2021. This research is quantitative research. The data used is also secondary data taken from the official website of the Indonesia Stock Exchange in the form of financial reports of LQ45 companies listed on the IDX. Based on the results of data analysis and discussion of the effect of Managerial Ownership, Company Growth, and Profitability on Dividend Policy in LQ45 companies 2019 - 2021, it can be concluded. The managerial ownership variable has no effect on dividend policy as proxied by the dividend payout ratio. The company growth variable affects the dividend policy proxied by the dividend payout ratio. This indicates that any increase or decrease in total assets during the observation period affects the dividend to be distributed to shareholders. The profitability variable has no effect on dividend policy proxied by the dividend payout ratio.Keywords: Managerial Policy, Company Growth, Profitability, Dividend PolicyDOI: http://dx.doi.org/10.23960/E3J/ v7i1.34-42