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All Journal Ekonomi dan Keuangan CARADDE: Jurnal Pengabdian Kepada Masyarakat International Review of Practical Innovation, Technology and Green Energy (IRPITAGE) Journal of Governance Risk Management Compliance and Sustainability Indonesia Berdampak: Jurnal Pengabdian Kepada Masyarakat
Syarief Fauzie
Prodi S1 Ekonomi Pembangunan FEB USU
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Environmental Science Social Sciences Other

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ANALISIS PENGARUH BID-ASK SPREAD, MARKET VALUE DAN VARIANCE RETURN TERHADAP HOLDING PERIOD SAHAM SEKTOR PERTAMBANGAN Novita Selvia Perangin-angin; Fauzie Syarief
Ekonomi dan Keuangan Vol 1, No 3 (2013)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

ABSTRACT The formulation of the problem is to know the influence of bid-ask spread, market value and variance return on stock holding period  in  mining  sector.  The  objective of this research to analyze the influence of bid-ask spread, market value and variance return on stock holding period  in  mining  sector.          The data used were 10 companies selected  using purposive sampling technique with the criteria (1) The companies  in  mining  sector  registered  in Jakarta Exchange. (2) The companies which  were actively  consistent  during in the period 2009 up to 2011 in Jakarta Exchange. (3) The companies  fulfilling the indicator of  dependent  and  independent variables  during in the period 2009  up to 2011.  The data to analyze in  this research  were  panel data  using  Multiple  Linier Regression with Fixed Effect Model (FEM) in accordance with this model  having  the intercept  equation  and it was  not constant or with  difference on every   individual. Before analyzing the  data,  it was tested  firstly with Normality test and Hausman test to know  the  normality of data  and  to know  which  method  is appropriate  with fixed effect model in this research.  Further,  data  processing was done using Eviews 7 program.The results of research  showed that simultaneously through f-statistic  test  the variable of bid-ask spread, market value and variance return  had significant  influence to stock holding period in mining sector on significance rate 95%,whereas based on t-statistic test, it can be concluded that the variable of bid-ask spread and market value  had  positive  influence and  insignificant  influence to  stock holding period in mining sector and variance return with negative significant to stock holding period of mining sector  in period of 2009 up to 2011 with significance rate 95%. In addition, the coefficient of  determination  showed that  the variable of bid-ask spread, market value, and variance return  are capable  only  to explain that the  variable of stock holding period in mining sector  for 65.15%. Keywords: Stock Holding Period, Bid-Ask Spread, Market Value and Variance Return.
ANALISIS PENGARUH STRUKTUR PASAR, BEBAN NON BUNGA, EKUITAS, DAN ASET LIKUID TERHADAP MARGIN BUNGA BERSIH PADA BANK UMUM YANG LISTING DI BURSA EFEK INDONESIA Hardi Nata Purba; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 1 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

This research aim to obtain empirical evidence about the effect of market structure, non-interest expense, equity and liquid asset to net interest margin on commercial banks listed on the Indonesia Stock Exchange for period 2007-2011. In this research, the data used is the data of 11 commercial banks were selected through purposive sampling with criteria (1) commercial banks that are actively listed on the Indonesia Stock Exchange for period 2007-2011. (2) Commercial banks that consistently publishes annual financial statements for the period of 2007-2011. (3) Commercial banks that meet indicator dependent variable and the independent variables during the period of 2007-2011. The data is analyzed using panel data with multiple linear regression method with fixed effect model (FEM) are graded according to this research because this model has no intercept equation is constant or there are differences in each individual. Before analyzing the data, first Normality Test and Hausman test to determine the normality of the data and to determine whether the fixed effect model suitable for use in this study. Further processing of the data were performed using the Eviews 5.Results of this research found that simultaneous f-statistics test that variables of market structure, non-interest expense, equity and liquid asset have a significant effect on net interest margin at 95% confidence level, while it is partially based on t- statistics test concluded that the variables of market structure and equity had a positive effect and no significant on the net interest margin at the 95% confidence level. Non-interest expense variable has a positive and significant effect on net interest margin and the liquid assets variable has a negative and significant effect on the net interest margin at the 95% confidence level. Additionally determination coefficient indicates that the variable of market structure, non-interest expense, equity and liquid asset are able to explain the variable net interest margin on commercial banks listed on the Indonesia Stock Exchange amounted to 87.79%.Key words: Net Interest Margin, Market Structure, Non-Interest Expense, Equity, and Liquid Asset.
Analisis Penentuan Suku Bunga Dasar Kredit Ritel ( Studi Empiris pada Bank BUMN di Indonesia Periode Oktober 2011 – Maret 2013 ) Brando Pratenta Ginting; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 2 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

This research was conducted to determine the factors that influencing the determination of the retail prime lending rate on government bank in Indonesia. The main purpose of this research is to analyze the influence of BI rate and BOPO for the determination of the retail prime lending rate. The data used in this research is a secondary data which the object of this study is the government bank by using the Financial Statements of the period October 2011 - March 2013.The data in this study is the type of panel data that analyzed using panel data regression of the fixed effect model (FEM) which was considered suitable in this research because the model has a different intercept equations or constant on each individual. Before analyzing the data, first tested for normality and test redundant fixed effect to determine whether the data that normally distributed and used to determine the suitability of the fixed effect model for this research.Further processing of the data were performed using the Eviews 6.The results showed that simultaneously the BI rate and BOPO variables with significant impact on the retail prime lending rate at 95% confidence level. In addition, from the values shown by the coefficient of determination shows that the BI rate and ROA variables are able to explain the variable the re0tail prime lending rate amounted to 97,7%.Key words : BI Rate, BOPO, Prime Lending Rate
ANALISIS PERBANDINGAN KINERJA REKSA DANA KONVENSIONAL DENGAN REKSA DANA SYARIAH DI INDONESIA Jepryansyah Putra; syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 5 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

This research aims to analyze how the performance between Conventional mutual fund and Sharia mutual fund. Variables that are used in this research are sharpe ratio, treynor ratio, and jensen ratio. By using purposive sampling method, there are21Investment Manager that managed conventional mutual fund and sharia mutual fund. This research used Average Difference to analyze performance between conventional and sharia mutual fund. The result showed sharia mutual funds have a greater return and less risk than conventional mutual funds. Hypothesis test on equity fund performance is different but not significant measured by sharpe ratio and treynor ratio, but while testing by jensen ratio showed significant difference. Hypothesis test on fixed income fund is different but not significant measured by sharpe ratio, jensen ratio, and jensen ratio. Hypothesis test on mixed mutual fund is different but not significant measured by sharpe ratio, treynor ratio, and jensen ratio.Keywords:Mutual fund, Sharpe ratio, Treynor ratio, Jensen Ratio, and Average Difference
PENGARUH CAPITAL INFLOW DAN CAPITAL OUTFLOW DI INDONESIA TERHADAP NILAI TUKAR RUPIAH Kristopel F Tambunan; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 5 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

The purpose of this study is to know how is the effect of capital inflow and capital outflow in Indonesia against the rupiah exchange rate in short-term and long-term. Variables which are used in capital flow are direct investment, portofolio investment and other investment, that recorded in the Indonesian balance of payments on capital transaction and financial account. The estimation result of the short-term equation indicates that the enhancement of direct investment inflow at the last quarter caused the rupiah exchange rate run into appreciation. While the other investment inflow at the last two quarters, direct investment outflow at one or two quarters and portfolio investment outflow at the last quarter caused the rupiah exchange rate run into depreciation. The estimation results of the long-term equation indicates that the enhacement of other investment inflow caused the rupiah exchange rate run into appreciation, portfolio investment outflow and other investment outflow caused the rupiah exchange rate run into depresiation.Keywords: Exchange Rate Rupiah, Capital Inflow, Capital Outflow
ANALISIS PENGARUH RESIKO PERBANKAN DAN KEBIJAKAN MONETER TERHADAP KEMAMPUAN PERBANKAN DALAM PENYALURAN KREDIT Ronal Colin; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 7 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

The purpose of this study is to investigate and analyze the effect of bank risk (the ratio of loan-loss provisions and expected default frequency) and bank-specificcharacteristics (the ratio of capital, size and liquidity) to bank lending channel at conventional commercial banks in Indonesia and to investigate and analyze the effect of bank risk (the ratio of loan-loss provisions and expected default frequency) and bank-specificcharacteristics (the ratio of capital, size and liquidity) to bank lending channel with interest rate of Bank Indonesia Certificates as a moderating variable.Secondary data collection is done by downloading the data published financial statementsconventional bank on www.bi.go.id and the data bonds obtained from the Indonesia Bond Pricing Agency. This study employs panel regression model for the first hypothesis testing and analysis of moderating variable regression model with residual method for the second hypothesis testing.The results of the study indicate that the first hypothesis is jointly bank risk (the ratio of loan - loss provisions and expected default frequency) and the bank-specificcharacteristics (the ratio of capital, size and liquidity) have significant impact towards bank lending channel at conventional commercial banks in Indonesia. Partial test showed that the independent variables are liquidity has no effect on bank lending channel. In the second hypothesis the results showed that the interest rate of Bank Indonesia Certificates moderate the effect of size to bank lending channel and also moderate the effect expected default frequency to bank lending channel. However, the interest rate of Bank Indonesia Certificates not moderate the effect of loan-loss provisions to bank lending channel, the effect of capital to bank lending channel, as well as liquidity to the lending bank channel.Keywords : loan - loss provisions, expected default
ANALISIS DAMPAK PEMBAYARAN NON TUNAI TERHADAP JUMLAH UANG BEREDAR DI INDONESIA Lasondy Istanto S Istanto S; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 10 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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This research has a purpose to analyze impact of non-cash payment to money supply in Indonesia. Money supplies used in this research are narrow money (M1) and broad money (M2). Non-cash payment in this research represented by four transaction scheme, card-based payment system (APMK), e-money, Bank Indonesia’s national clearing system (SKNBI), and BI-RTGS system.Error correction model is applied in order to study the relationship between money supply and non-cash payment system. The result shows thatthe volume of credit card transactions, the value of ATM/Debit transaction, the value of e-money transaction, the volume of SKNBI transaction, and the value of BI-RTGS transaction has positive effect on M1, while the value of SKNBI transactions has negative effect on M1. Meanwhile by substituting M1 to M2 the results shows that, the volume and value of ATM/Debit transaction, the volume of SKNBI transaction, the volume and value of BI-RTGS transactions has positive effect on M2 while the value of e-money transactions and value of SKNBI transaction has negative effect on M2.Key Word: Money Supply, M1, M2, Non-Cash Payment, ECM.
ANALISIS MANFAAT RASIO KEUANGAN DALAM MEMPREDIKSI FINANCIAL DISTRESS PADA PERBANKAN (2007-2012) Rizky Indriyani Siregar; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 12 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

This research has a purpose to provide financial ratios in predicting financial distress of bank. The financial ratios that are used are CAR, ROA, ROE, LDR, BOPO, NIM and NPL. By using purposive sampling method, there 11 banks which experience financial distress and 11 banks which do not experience financial distress as comparison. This research used Logistic Regression to analyze financial ratios in predicting financial distress. Logistic Regression was used twice by using data of 2 years prior to financial distress and 1 year prior to financial distress. The result showed that logistic regression model by using data of 2 years prior to financial distress was a good model while model by using data of 1 year prior to financial ratios was not a good model and could not be used. The final result showed that CAR, NIM, and NPL have positive influence while ROA, ROE, LDR and BOPO have negative influence in predicting financial distress of bank.Keyword: financial distress, financial ratios, logistic regression
ANALISIS MONDAY EFFECT DAN ROGALSKI EFFECT TERHADAP RETURN SAHAM DI BURSA EFEK INDONESIA (BEI) PERIODE 2012-2013 Susetriani Putri F.A.S; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 11 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

This research aims to test and analyze the Monday effect and Rogalski effect on stock return in Indonesia Stock Exchange. The applied sampling method is purposive sampling. The sample in this research is companies registered as LQ-45 Index during January 2012 up to December 2013. The analysis method applied to analyze the influence factors of return on the trading days is descriptive analysis. The descriptive analysis method is used to depict the daily average of stock returns and monthly stock returns. The hypothesis was tested by Kruskal Wallis Test, Kendall’s Tau, and Wilcoxon Test. The result of hypothesis 1 and hypothesis 2 tests using Kruskal Wallis Test indicates that there is day of the week effect and Monday effect on LQ-45 Index during January 2012-December 2013. The result of hypothesis 3 test using Kendall’s Tau Test indicates that there is not a correlation between Monday effect and bad Friday on LQ-45 Index during January 2012-December 2013. The result of hypothesis 4 test by Wilcoxon Test indicates that there is not Rogalski effect phenomenon on LQ-45 Index during January 2012-December 2013.Keyword: stock return, LQ-45 Index, Monday effect and Rogalski effect
ANALISIS STOCK RETURNS PERUSAHAAN PERBANKAN PADA JAKARTA COMPOSITE INDEX MENGGUNAKAN FAMA-FRENCH THREE-FACTOR MODEL yolita yolita; Syarief Fauzie
Ekonomi dan Keuangan Vol 2, No 11 (2014)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

The validity of Fama-French Three-Factor Model has been tested in various stock exchanges to show the explanation power of market risk factor, size risk factor and book-to-market ratio risk factor on excess returns. The purpose of this study is to test the validity of Fama-French Three-Factor Model in banking stocks listed on Jakarta Composite Index. This study also shows the average monthly returns behavior based on the portfolios constructed according to firm size and book-to-market ratio. Three-factor model is empirically compared to one-factor model (CAPM). This study uses multiple linear regression on time-series data in estimating the effects of three variables (market risk factor, size risk factor and book-to-market ratio risk factor) on excess portfolio returns. The data used in this analysis are monthly stock returns, monthly market returns and risk-free rate in the period of February 2008 to January 2014. Average monthly portfolio returns calculated from February 2008 to January 2014 show a positive relation between average return and both firm size and book-to-market ratio. Market risk factor and size risk factor significantly affect the excess returns on four portfolios constructed according to firm size and book-to-market equity ratio. Beside the portfolio including big-size firms with high book-to-market ratio, book-to-market ratio risk significantly affects the excess returns on the other three portfolios. Based on the empirical results, three-factor model works better in explaining the excess portfolio returns than one-factor model.Keywords: Fama-French Three-Factor Model, market risk, size risk, book-to-market ratio risk, stock returns.
Co-Authors ARIF RAHMAN Brando Pratenta Ginting Gurning, Herfita Rizki Hanasah Hardi Nata Purba Hasibuan, Widya Sartika Irsad Jepryansyah Putra Kristopel F Tambunan Lasondy Istanto S Istanto S Lois Anjela Sembiring Novita Selvia Perangin-angin Rizky Indriyani Siregar Ronal Colin Simatupang, Dewi Ratna Sari Sirojuzilam Hasyim Soeparno, Wahyu Sugeng Imam Sukma Hayati Hakim Susetriani Putri F.A.S Tunggul Patar Naibaho Wahyu Ario Pratomo Wahyu Sugeng Imam Soeparno Widya Sartika Hasibuan Yandri Rezziansyah Sitompul yolita yolita