. Sujoko
School of Business and Management Bandung Institute of Technology

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Analisis Kandungan Informasi Dividen dan Ketepatan Reaksi Pasar : Pengujian terhadap Dividend Signaling Theory Studi Empiris di Bursa Efek Jakarta Sujoko, .; HM, Jogiyanto
Jurnal Widya Manajemen & Akuntansi Vol 1, No 2 (2001)
Publisher : Fakutas Ekonomi Unika Widya Mandala Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (3809.28 KB)

Abstract

The purpose of this study is to examine the information content of dividend. Another purpose of this study is to examine the decisionally efficient market. This research explored the issue by applying the event study methodology for analyzing the market reaction. As much as 150 firms listed in Jakarta Stock Exchange (BEJ) were taken as a sample using a purposive sampling method. The sample are dividend into four sub sample: (1) sub sample consist of 150 firms that pay increase dividend, (2) sub sample consist of 18 firms that pay consistently increase dividend, (3) sub sample consist of 96 firms that pay increase dividend and the firms are growing, (4) sub sample consist of 54 firms that pay increase dividend and the firms are not growing. The statistic method used to test hypotheses is t-test. Three models of expected return were considered: OLS Market Model, Mean Adjusted Model, and Market Adjusted model. The empirical result indicates that dividend conveys information to the market. this means that investors in BEJ use information of dividend announcements for decision making. The result of this study supports dividend signaling theory. Another result of this study indicates that the Jakarta Stock Exchange (BEJ) is not decisionally efficient market. This means that investors are not sophisticated and fooled by manager of the firms.
System Dynamic Models As A Basis Strategy Development of Tin Ore Production Optimization Case Study: Indonesia Tin Mining Company Sujoko, .; Tjakraatmadja, Jann Hidajat
Jurnal Aplikasi Manajemen Vol. 11 No. 4 (2013)
Publisher : Universitas Brawijaya, Indonesia

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

Abstract

This study is a case study on a tin mining company in Indonesia. The core business of this company is Tin Business. Amount of tin ore production is key success factor for this business. Tin ore production system is a fairly complex system, always changing along with the changing times and the environment change either internal or external environment. This system characterized by dynamically. Thus tin ore production system is dynamic system. Referring to that in this study used system dynamic model as a tool to evaluate and develop strategy to improve optimization of tin ore production. Tin ore production systems consist of two types, there are legal mining and illegal mining. Tin ore production systems are affected by some reinforcing systems and some balancing systems. Legal mining production System characterized by limits to growth, while the illegal mining production system characterized by tragedy of common. The main factors affecting the company performance are the tin price and tin resources. Both of these factors are difficult to control by the company. Thus, strategy development for optimizing tin ore production can be performed on other variables that can be controlled by the company. Company performance in the future depend on level of company ability in optimize production. In this study will be built a model using system dynamic method. The target is to finding important factors in the tin ore production system and how relation between the factors, then it's can be find of strategy formulation to production optimization. With this effort are to sustainability and growth of the company can be assured.