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ANALISIS PENGARUH STRUKTUR KEPEMILIKAN TERHADAP PERUBAHAN PROFITABILITAS PERUSAHAAN PASCA PENAWARAN SAHAM PERDANA Nadin, Muhammad Audi De; T, Sutrisno
Jurnal Ilmiah Mahasiswa FEB Vol 3, No 2: Semester Genap 2014/2015
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This research aimed at examining the difference in corporate profitability between pre- and post-initial public offering (IPO) and focused on the effect of ownership structure toward profitability change. Samples of this research were firms conducting IPO on Bursa Efek Indonesia (BEI) from 2009-2011, not financial firms nor banking firms, and providing  necessary information for this current research. Setting those criteria, 52 companies met the criteria to be taken as samples of this research. This research was conducted by means of comparing the average profitability of the firms for the period before and after the IPO and using multiple linear regression test. This research revealed the decline in post-issue firm profitability, which was one year before IPO and two years after IPO, measured by return on equity (ROE), return on asset (ROA), operating income to asset (OI/A) and, sales to asset (S/A). This research further found that the change of post-issue profitability was not associated with ownership structure. The portion of institutional ownership, public ownership, and existence of managerial ownership did not affect the change of post-issue firm profitability.  Keywords: Initial public offering, profitability, return on equity (ROE), return on  asset (ROA), operating income to asset (OI/A), sales to asset (S/A), ownership structure, institutional ownership, public ownership, managerial ownership
PENGARUH STRATEGI BISNIS PERUSAHAAN DAN KOMPETISI PASAR EKUITAS TERHADAP RISIKO CRASH HARGA SAHAM DENGAN OVERVALUED EQUITIES SEBAGAI VARIABEL MEDIASI Arianwuri, Fidya Gumilang; T, Sutrisno; Prihatiningtyas, Yeney Widya
Jurnal Reviu Akuntansi dan Keuangan Vol 7, No 1: Jurnal Reviu Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.036 KB) | DOI: 10.22219/jrak.v7i1.10

Abstract

Business Strategy, Equity Market Competition, Overvalued Equities, and Stock Price CrashRisk. The purpose of this research is to examine the influence of prospector business strategyand defender business strategy, equity market competition, and indirect effect of prospectorbusiness strategy on stock price crash risk through ovevalued equities. The sample of thisresearch are 192 companies that are divided into 96 prospector business strategy and 96 defender business strategy during 2010-2016. This study uses a secondary data from financialreport, number of investor, and stock price information. Which is obtained from the officialwebsite of IDX, KSEI and yahoo finance. The results of this study indicate that the prospectorbusiness strategy effect on the stock price crash risk, while the defender business strategy doesnot affect on stock price crash risk. The equity market competition is proven to reduce the stockprice crash risk. The existence of a prospector business strategy will tend to overvalued equitieswhich in turn, increase stock price crash risk.Ke ywords: defender business strategy, equity market competition, overvalued equities, prospector business strategy, stock price crash risk
PENGARUH STRATEGI BISNIS PERUSAHAAN DAN KOMPETISI PASAR EKUITAS TERHADAP RISIKO CRASH HARGA SAHAM DENGAN OVERVALUED EQUITIES SEBAGAI VARIABEL MEDIASI Fidya Gumilang Arianwuri; Sutrisno T; Yeney Widya Prihatiningtyas
Jurnal Reviu Akuntansi dan Keuangan Vol. 7 No. 1: Jurnal Reviu Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (679.594 KB) | DOI: 10.22219/jrak.v7i1.10

Abstract

Business Strategy, Equity Market Competition, Overvalued Equities, and Stock Price CrashRisk. The purpose of this research is to examine the influence of prospector business strategyand defender business strategy, equity market competition, and indirect effect of prospectorbusiness strategy on stock price crash risk through ovevalued equities. The sample of thisresearch are 192 companies that are divided into 96 prospector business strategy and 96 defender business strategy during 2010-2016. This study uses a secondary data from financialreport, number of investor, and stock price information. Which is obtained from the officialwebsite of IDX, KSEI and yahoo finance. The results of this study indicate that the prospectorbusiness strategy effect on the stock price crash risk, while the defender business strategy doesnot affect on stock price crash risk. The equity market competition is proven to reduce the stockprice crash risk. The existence of a prospector business strategy will tend to overvalued equitieswhich in turn, increase stock price crash risk.Ke ywords: defender business strategy, equity market competition, overvalued equities, prospector business strategy, stock price crash risk
PENGARUH PBV, EPS, DAN DER TERHADAP HARGA SAHAM DENGAN KEBIJAKAN DEVIDEN SEBAGAI VARIABEL INTERVENING : STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI TAHUN 2009-2013 IRENE NATHASIA DEVI; SUTRISNO T
Jurnal Ilmiah Mahasiswa FEB Vol 4, No 1: Semester Ganjil 2015/2016
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The purpose of this research is to examine the effect of Price Book Value (PBV), Earning Per Share (EPS), and  Debt to Equity Ratio (DER) either directly or indirectly on stock price with used dividend policy as an intervening variable. Dividend Payout Ratio (DPR) used as a proxy of dividend policy. The sample used in this study consisted of 32 manufacturing companies listed on the Indonesia Stock Exchange from 2009 to 2013, 160 the number of observations. Sampling was done by purposive sampling methode. This research used is path analysis to quantify the direct and indirect effect of each variable on stock prices. The result of the analysis show that have positive to dividend policy, but EPS and DER have negative to dividend policy. Dividend policy have positive to stock price. PBV and EPS have positive to stock price, DER have negative to dividend policy. Based on result indirect analysis show that have PBV, EPS, and DER to stock price can mediated using dividend policy.   Keywords:    Debt to Equity Ratio (DER), Dividend Payout Ratio (DPR), Earning Per Share (EPS), Price Book Value (PBV), and Stock Price.
FAKTOR-FAKTOR YANG MEMPENGARUHI PENGUNGKAPAN SUKARELA PELAPORAN KEUANGAN DAN KEBERLANJUTAN MELALUI INTERNET DAN IMPLIKASINYA TERHADAP ASIMETRI INFORMASI Maulana Fajri Al Arafi; Sutrisno T
Jurnal Ilmiah Mahasiswa FEB Vol 2, No 2: Semester Genap 2013/2014
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This  research  aims  to  find  empirical  evidence  about  the  effect  of  firm  size, profitability, leverage and non-management share ownership portion to internet financial and sustainability reporting, as well as to find empirical evidence about the effect of internet financial and sustainability reporting to information asymmetry. The population  in  this research are 446  Indonesian companies  listed  in  Indonesian Stock Exchange (IDX) in period 2012. This research selected 120 companies by using non-probability random sampling (purposive sampling). These research data were analyzed using multiple regression analysis and simple regression analysis. The results indicated that firm size and profitability had influence on internet financial and sustainability reporting. The research also showed that internet financial and sustainability reporting could reduce information asymmetry.   Keywords:  Internet Financial and Sustainability Reporting, Firm Size, Profitability, Leverage, Non-management  Share-ownership  portion, Information Asymmetry.
Company Financial Performance Analysis With Financial Ratios, Economic Value Added (EVA), and Market Value Added (Study Case on Manufacturing Corporation Period 2008 -2012). Yuni Ratna Savitri; Sutrisno T
Jurnal Ilmiah Mahasiswa FEB Vol 2, No 2: Semester Genap 2013/2014
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Penelitian  ini  bertujuan  untuk  mengetahui kinerja  likuiditas,  profitabilitas,  pasar,  nilai  tambah,  dan  kinerja  keuangan  secara  keseluruhan dengan rasio keuangan, Economic Value Added  (EVA) dan Market Value Added  (MVA) pada perusahaan manufaktur untuk periode 2008-2012. Berdasarkan hasil analisis diperoleh kesimpulan bahwa (1). Dilihat dari  rasio  likuiditas jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah:  food and beverages; apparel and other textile products; plastics and glass products; metal and allied products; cables; automotive and allied products; dan pharmaceuticals.  Dilihat dari rasio profitabilitas jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah:  food and beverages; chemical and allied products; plastics and glass products; metal and allied products; cables; automotive and allied products; dan pharmaceutical. Dilihat dari rasio pasar jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah: food and beverages; apparel and other textile products; chemical and allied products; plastics and glass products; metal and allied products; cables; automotive and allied products; dan  pharmaceuticals. Dilihat dari nilai tambah jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah:  food and beverages; chemical and allied products; plastics and glass products; metal and allied products; automotive and allied products; dan pharmaceuticals.(2). Dilihat dari rasio kinerja keuangan secara keseluruhan yang memiliki kinerja yang baik adalah:  food and beverages, automotive and allied products; metal and allied products; pharmaceuticals; plastics and glass products; chemical and allied products.Kata  kunci:  Kinerja Keuangan,  Rasio Keuangan,  Nilai Tambah Ekonomi,  Nilai Tambah Pasar.
PENGARUH BUDAYA ORGANISASI, KOMITMEN ORGANISASI, GAYA KEPEMIMPINAN, DAN KOMPETENSI TERHADAP KINERJA PEMERINTAHAN DAERAH (STUDI EMPIRIS PADA KABUPATEN BANGKALAN) - Mufarrohah; Sutrisno T; Bambang Purnomosidhi
InFestasi Vol 9, No 2 (2013): DESEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v9i2.564

Abstract

This research aims to test and prove empirically the effect of organizational culture, organizational commitment, leadership style, and competence on the local government performance. The data collection in this research is conducted by survey method. Sample of this research is the functionary staffs of echelon II and echelon III in Local Government Bangkalan. Techniques of data analysis employs Structural Equation Modeling (SEM) and analysis tool utilizes Partial Least Square (PLS).  The results of this research indicate that there is a positive influence of organizational culture, leadership style, and the competence on the local government performance of Bangkalan. When the organizational culture, leadership style and competence is high, the performance of local government is also high. Organizational commitment has a negative influence and significant on the performance of local government Bangkalan.
PENGARUH KEPEMILIKAN KELUARGA TERHADAP KEBIJAKAN DIVIDEN DENGAN BOARD OF INDEPENDENCE SEBAGAI VARIABEL MODERASI Poniman .; Sutrisno T; Abdul Ghofar
MIX: JURNAL ILMIAH MANAJEMEN Vol 8, No 3 (2018): MIX: Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (234.828 KB) | DOI: 10.22441/mix.2018.v8i3.010

Abstract

High concentration of family ownership in East Asia has led to agency conflicts between the majority and minority shareholders potentially affecting the company's dividend policy. This study aims to examine the effect of family ownership on dividend policy. This study also examined the role of board of independence as a moderator in strengthening the influence of family ownership on dividend policy. The result proves that family ownership negatively affects dividend policy but with the existence of board of independence, family ownership has positive effect on dividend policy. This study contributes to the theory of agency type II which discusses conflicts between majority shareholders by family and minority that can be eliminated by good corporate governance mechanisms
PENGARUH RASIO PROFITABILITAS DAN RASIO LEVERAGE TERHADAP HARGA SAHAM PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA Zia Arnanto; Sutrisno T
Jurnal Ilmiah Mahasiswa FEB Vol 3, No 2: Semester Genap 2014/2015
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This research aimed to examine the effect of profitability ratio and leverage ratio to the stock price of Indonesia Stock Exchange (IDX) listed manufacturing companies. This research used sample from population of manufacturing companies that have been listed in the Stock Exchange from 2009 to 2012. There are 70 manufacturing companies obtained as samples using purposive sampling method. The types of data used are secondary data obtained from the Indonesian Stock Exchange and Indonesian Capital Market Directory (ICMD). The data collection technique used is the documentation technique. Multiple linear regression analysis is used to answer the research problem. The results of this research showed that Return on Assets (ROA) and Earning Per Share (EPS) have significant effects on stock prices, while the Debt to Equity Ratio (DER) has no significant effect on stock prices. Keywords: Profitability, leverage, return on asset (ROA), Earning Per Share (EPS), Debt to Equity Ratio (DER), stock price.
ANALISIS PERUBAHAN RASIO KEUANGAN UNTUK MEMPREDIKSI PERTUMBUHAN LABA PERUSAHAAN MANUFAKTUR YANG TERCATAT DI BURSA EFEK INDONESIA TAHUN 2011-2013 Febrian Rizal Irawan; Sutrisno T
Jurnal Ilmiah Mahasiswa FEB Vol 3, No 2: Semester Genap 2014/2015
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Penelitian ini bertujuan untuk menganalisis perubahan  rasio likuiditas (rasio lancar), rasio solvabilitas (rasio hutang terhadap ekuitas), rasio aktivitas (rasio perputaran aset total), dan  rasio profitabilitas (retun on asset) untuk memprediksi pertumbuhan laba periode satu tahun ke depan. Populasi  pada  penelitian ini adalah perusahaan manufaktur yang tercatat di Bursa Efek Indonesia periode 2011 sampai 2013 dengan jumlah  sampel  sebanyak 71 perusahaan.  Analisis data pada penelitian ini menggunakan model analisis regresi linier berganda  dan pengujian hipotesis menggunakan uji t. Hasil penelitian menunjukkan bahwa  perubahan  rasio likuiditas (rasio  lancar)  memiliki pengaruh negatif untuk memprediksi pertumbuhan laba, perubahan  rasio solvabilitas (rasio hutang terhadap ekuitas)  dan  perubahan rasio aktivitas (rasio perputaran aset total)  tidak memiliki pengaruh yang signifikan untuk memprediksi pertumbuhan laba, serta perubahan rasio profitabilitas (return on asset) memiliki pengaruh positif untuk memprediksi pertumbuhan laba.Kata kunci: rasio lancar, rasio hutang terhadap ekuitas, rasio perputaran aset total, return on asset, pertumbuhan laba.