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PENGARUH KEPEMILIKAN MANAJERIAL DAN KEPEMILIKAN INSTITUSIONAL TERHADAP KEBIJAKAN HUTANG PERUSAHAAN DALAM PERSPEKTIF AGENCY THEORY Pertiwi, Elva Dian; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 4, No 2 (2014)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v4i2.1360

Abstract

This study aimed to determine the effect of managerial ownership and institusional ownership as well as the control variabel is profitability, firm size, asset structure, against debt policy. The population in this is a property and real estate company listing on the Stock Exchange in 2010-2013. Purposive sampling with sampling to obtain a sample of 10 property and real estate using purposive sampling to obtain a sample of 10 companies and real estate properties companies. Data collection is done by the method of documentation. The analytical method used is multiple linear regression analysis. With the influence that occurs between mangerial ownership and institusional ownership variable control of the debt policy on property and real estate companies on the Stock Exchange, the company should reduce the proportion of debt financing in order to reduce financial distress because the funding of corporate debtscauses financial distress and agency cost is greater than the tax saving from the burden of debt interest, consequently the company highly vulnerable to economic shock.
PENGARUH PENGUMUMAN PERUBAHAN DIVIDEN TERHADAP ABNORMAL RETURN SAHAM DI BURSA EFEK INDONESIA Evan, Nur; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 2, No 2 (2012)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v2i2.1319

Abstract

The information about increase and decrease of the cash dividend that it's be dividend by the company is one of information that be considered important enough for investor, because in the information include. The loading information that due to advantage prospect that will get by the company in the next time. It's caused a condition where the investors is met to the high uncertainty of the result of it's investment activity so it's increase and decrease information a cash dividend can be assumed as an indicator for repairing the advantage prospect company in the next time. This research examines information content of cash dividends announcements increase and decrease and the difference of average abnormal return between companies announcing of cash dividend. The result shows that those companies announcing the increase of cash dividends, the is reactive, especially in the t+6 after dividends announcement. It indicate that there is content information on the announcement of cash dividends increase. Mean while those companies announcing the decrease of cash dividends, the market is reactive, especially in the t+9 after announcement of cash dividends. The test of the difference of average abnormal return before and after on the announcement of the increase and the decrease of cash dividends, show that there is no difference between average abnormal return before and after announcement of increase and decrease cash dividends.
ANALISIS EFISIENSI PASAR MODAL SYARI’AH DAN KONVENSIONAL BENTUK LEMAH BURSA EFEK INDONESIA Mujisukamto, Aprinta Trisna; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 4, No 1 (2014)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v4i1.1351

Abstract

The analysis in this study was to test the efficiency of the Indonesian capital market in the form of weak. this research has two objeactives, the first objectives is analyze whether Indonesia capital market (convensional and syari’ah) has been efficient (weak-form). The second one is to analyze differentiation efficient market between convensional and syari’ah capital market. This study uses monthly stock price data, from 23 conventional stocks included in the index LQ45 and 2 Islamic stocks included in the index during the observation period 2012-2013 JII. To test the hypothesis efficiency of capital markets weak form using the Run Test, this test is used to test randomness stock price changes. Results from this study are in the period 2012-2013 of conventional and islamic capital market is efficient in the weak form and analyze by looking for a random number of shares on the capital market conventional and islamic capital market, the results showed that there were 22 (95.7%) share price conventional random and 2 (100%) the share price of sharia are random. Based on the analysis of Islamic capital markets more efficient than the conventional capital market.
ANALISIS TINGKAT KESEHATAN BANK DENGAN MENGGUNAKAN METODE RISK-BASED BANK RATING (RBBR) (STUDI PADA BANK YANG TERDAFTAR DI BANK INDONESIA DALAM LAPORAN TRIWULANAN PERBANKAN TAHUN 2015) Rezaldi, Bayu; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 7, No 1 (2017)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v7i1.1704

Abstract

The research objective is to understand bank’s health rate that are listed in Bank Indonesia in banking sub-sector period 2015. Bank’s health rate is assessed through Risk-Based Bank Rating method which includes four factors such as risk profile, Good Corporate Governance,, earning and capital of each bank. This research only considers three factors of four total factors Risk Profile is proxied by Loan to Deposit Ratio(LDR), Earning is proxied by Return On Asset (ROA) to Net Interest Margin (NIM), Capital is proxied by Capital Adequacy Ratio (CAR). The assessment of bank’s health rate based on Risk Profile with Loan to Deposit Ratio analysis has shown that some bank area not heahlty with Loan to Deposit Ratio below 85% , the assessment based on earning with Return On Asset analysis has shown that some banks are not healthy with Return On Asset below 1.25 %. The assessment with Net Interest Margin has shown that some bank are not healthy with Net Interest Margin below 2%. The assessment based on capital by Capital Adequacy Ratio shows positive result for each bank. In general, each bank has Capital Adequacy Ratio aboved 10 %. Considering these results, each bank in healthy category.
ANALISIS PENGARUH RASIO KEUANGAN TERHADAP RETURN SAHAM PADA PERUSAHAAN CONSUMER GOODS YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2012-2014 Azzahra, Fitri Amalia; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 6, No 1 (2016)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v6i1.1651

Abstract

This study is entitled Analysis of the Effect of Financial Financial Ratios on Stock Returns on Consumer Goods Companies Listed on the Indonesia Stock Exchange in 2012-2014. The purpose of this study is to determine whether the variable Current ratio (CR), Debt to Equity Ratio (DER), Earning per Share (EPS), and Total Asset Turn Over (TATO) affect the stock return. The analytical tool used is multiple linear regression, t test, F test, and R2. T test results prove that the CR variable has no effect on stock returns with a probability value of 0.9755, the DER variable has no effect on stock returns with a probability value of 0.9442, the EPS variable has an effect on stock returns with a probability value of 0.0049, and TATO has no effect on stock returns with a probability value of 0.9809. The test results with the F test prove that the variables CR, DER, EPS, and TATO simultaneously have no effect on stock returns with a probability value of 0.050589. The R2 test result, 0.278689, shows that the dependent variable of stock returns can be explained by the independent variables CR, DER, EPS, and TATO by 27.8% while the remaining 72.2% is explained by other variables not examined in this study.
ANALISIS PERBEDAAN RETURN SAHAM SEBELUM DAN SESUDAH PENGUMUMAN RIGHT ISSUE Masdalena, Masdalena; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 4, No 2 (2014)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v4i2.1357

Abstract

This research aims to determine whether there are differences in stock returns before and after the announcement of the rights issue on the Indonesia Stock Exchange 2009-2013 period. This study was conducted on 43 companies listed in the Indonesia Stock Exchange right issues in the year 2009 to 2013, with a purposive sampling method. This research used the t-test analysis test by way Paired Sample Test with the observation period (event window) there are 20 days, t-10 (10 days prior to the announcement of the rights issue) and t + 10 (10 days after the announcement of the right issue). The announcement of the test results are known to contain information because the announcement led to market tereaksinya indicated by the presence pf abnormal return that occurred and the results of t-test menunjukkan significance value 0.036<α0.05 to distinction stock returns 10 days prior to the stock return 10 days after the announcement of the right issue. This that information is not leaked.
PENGARUH KUALITAS PRODUK TERHADAP KEPUASAN KONSUMEN DAN KESETIAAN MEREK PADA PRODUK TOLAK ANGIN CAIR SIDOMUNCUL Darnawati, Dhewi Andria; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 2, No 1 (2012)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v2i1.1314

Abstract

This study aims to determine how the effect of product quality to customer satisfaction and customer loyalty on the product Tolak Angin Cair Sidomuncul and to find out what is the most dominant variable affecting consumer satisfaction and brand loyalty to the product of Tolak Angin Cair Sidomuncul. The population in this study is that people in the District of Umbulharjo, the city of Yogyakarta. Sampling techniques used is incidental sampling. Sources of data from this study using primary data obtained from the deployment questionnaire. This study used data analysis techniques are qualitative and quantitative analysis (multiple regression analysis, t test and F test). T test results on customer satisfaction (Y1) show that for each of the performance variables (X1), Reliability (X2), Endurance (X3), Aesthetics (X4), and perceived quality (X5) obtained the calculated value of t-count> t-table. It can be concluded that the performance variables (X1), aesthetics (X4), the perceived quality (X5), the partial effect is not significant and, while the variables Reliability (X2), Endurance (X3) and significant effect on customer satisfaction and t test results on brand loyalty disimpilkan that performance (X1), Reliability (X2), Endurance (X3), Aesthetics (X4), partial and no significant effect, whereas the perceived quality variables (X5) of consumer  loyalty to the product Tolak Angin Sidomuncul. The results of the F test, F-table obtained  = 5% F-count on the consumer satisfaction of 7.420. While the F-count on brand loyalty of 16.728. Because the F-count value. F-table, then the performance of independent variables (X1), Reliability (X2), Endurance (X3), Aesthetics (X4), and perceived quality (X5) simultaneously affect consumer satisfaction and brand loyalty to the product of Tolak Angin Cair Sidomuncul.
ANALISIS PENGARUH CUSTOMER EXPERIENCE TERHADAP PEMBELIAN ULANG (Studi Kasus pada Konsumen Restoran Gudeg Yu Djum Jln. Kaliurang Km. 5 Koncoran Gg. Sri Katon 2 Yogyakarta) Zaenuri, Muhamad; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 5, No 1 (2015)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v5i1.1618

Abstract

This study aims to determine the effect of the repurchase of Gudeg Yu Djum restaurant. The sample used in this study amounted to 100 respondents, while the sampling method used was purposive sampling method. Data analysis method used is quantitative analysis using validity and reliability tests, F tests, coefficient of determination, t tests and multiple linear regression analysis. Analysis tools using multiple linear regression methods can be concluded that the sense variable has no significant effect on repurchases with a significance value (P value) of 0.840> 0.05, the feel variable has a significant effect on repeat purchases with a significance value (P value) of 0.007 <0 , 05, think variable has a significant effect on repurchase with a significance value (P value) of 0.005 <0.05, Act variable has no significant effect on repurchase with a significance value (P value) 0.945> 0.05, the relate variable has a significant effect on repurchase with a significance value (P value) 0.042 <0.05. Simultaneously sense, feel, think, act, and relate, significantly influence the repurchase with an F count of 22,010 with a significant number (P value) 0,000 <0.005. The coefficient of determination generated is 0.515, which means 51.5% change in the repurchase variable is explained by the variables sense, feel, think, act, and relate together, while the remaining 48.5% is explained by other variables not included in this research.
ANALISIS PENGENDALIAN BAHAN BAKU MENGGUNAKAN METODE EOQ (ECONOMIC ORDER QUANTITY) (STUDI KASUS PADA PT MISAJA MITRA CO.LTD) Pamungkas, Wahyu Tri; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 1, No 2 (2011)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v1i2.1310

Abstract

Research and results of the calculations carried out, when using the EOQ method in the procurement of raw material cost savings will be obtained. If the organization of the raw materials based on EOQ methods, there will be cost savings in 2008 amounted to Rp303.763.020,- in 2009 amounted Rp393.450.766,- the year 2010 amounted to Rp411.567.748,-. Thus, it means that there are very real differences between the policies conducted by Inventory Company with the calculation according to the EOQ.From the results above, it can be concluded that the supply of raw materials each year has the difference of raw material inventory, the frequency of buying raw materials when using the EOQ method is 2 times in one period (1year), limit or point of ordering raw materials which is needed by the company when using the EOQ method of 2008 amounted to 9188.81 kg in 2009 amounted to 9869.47 kg and 2010 amounted to 11105.52 kg. Total cost of raw materials inventory, calculated according to the EOQ which is less than that released by the company, then there are cost savings when the company uses EOQ method in term of raw material inventory.
ANALISIS PENGARUH RASIO KEUANGAN TERHADAP HARGA SAHAM PADA PERUSAHAAN OTOMOTIF YANG TERCATAT DI BURSA EFEK INDONESIA (BEI) PERIODE 2012-2014 Hastuti, Nur; Sutanto, Aftoni
Jurnal Fokus Manajemen Bisnis Vol 7, No 2 (2017)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v7i2.1743

Abstract

This research aims to test the influence C (Current  Ratio), IT (Inventory Turnover), DER (Debt Equity Ratio), ROI (Return On Investment), and ROE (Return On Equity) to the stock price on the automotive industry which is listed on the Stock Exchange Indonesia in 2012-2014. The sample in this study is the automotive company. The sampling technique in this study using purposive sampling technique, obtained 12 samples of automotive companies. The test using statistical test multiple linear regression analysis. Partially, the statistical test used was the t test, simultaneously with the F test and the coefficient of determination (R2).  Based  on  the  results  of  this  study  concluded  that  the  partial  CR  (Current Ratio),  IT  (Inventory  Turnover),  DER  (Debt  Equity  Ratio),  ROI  (Return  On Investment), and ROE (Return On Equity) does not affect the value of automotive companies, and simultaneous  no effect on the stock price at the automotive company  2012-2014. R-Squared value (R2) of 0.200 (20.0%) means that the independent variables  affect  the dependent variable of 20.0% and 80.0% side explained by other variables outside the model.