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INVESTOR ASING DAN RETURN PASAR: APAKAH INVESTOR ASING MENDESTABILIZE BURSA EFEK INDONESIA Ni Ketut Surasni; I Dewa Gede Bisma; hermanto hermanto; H Burhanudin; Iwan Kusuma Negara
JMM UNRAM - MASTER OF MANAGEMENT JOURNAL Vol. 8 No. 1 (2019): JMM Maret 2019
Publisher : Master of Management, Mataram University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (638.883 KB) | DOI: 10.29303/jmm.v8i1.377

Abstract

The purpose of this study is to analyze the impact of the presence of foreign investors on market returns on the Indonesia Stock Exchange. To see the impact of foreign investor trading activities, this study proposes three hypotheses that will be proven. The first hypothesis is that foreign investors will increase portfolio diversification or the so-called base-broadening hypothesis. The second hypothesis is that foreign investors will cause price pressures on stocks or the price pressure hypothesis. The third hypothesis is that foreign investors use certain strategies in their trading, namely the feedback trading strategy. Of the 401 companies selected 32 companies as samples. Furthermore, from the three hypotheses proposed, the only proven hypothesis is the price pressure. Thus, foreign investors can cause destabilize prices on the Indonesia Stock Exchange. The destabilize implication is that investors are possible to use negative feedback trading strategies to make a profit.  Keywords: base-broadening, price pressure, feedback trading
PENGARUH FAKTOR FUNDAMENTAL MAKRO DAN MIKRO TERHADAP NILAI PERUSAHAAN (STUDI PADA SAHAM PERUSAHAAN SEKTOR INFRASTRUKTUR DAN SEKTOR KONSTRUKSI YANG TERDAFTAR DI BEI PERIODE 2015 – 2017 Ahmad Fatoni Karim Amirullah; Hermanto Hermanto; I Nyoman Nugraha AP
JMM UNRAM - MASTER OF MANAGEMENT JOURNAL Vol. 7 No. 2 (2018): JMM Juni 2018
Publisher : Master of Management, Mataram University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (413.589 KB) | DOI: 10.29303/jmm.v7i2.384

Abstract

This study aims to determine the effect of macro and micro fundamental factors on the company’s value, and the object of research were infrastructure sector companies and construction sector companies on the Indonesia Stock Exchange (IDX) in the period 2015 to 2017. Fundamental macro factors consist of inflation and exchange rates. While the micro fundamental factors consist of DER and ROE. The type of research used is associative research. The population in this study, 13 companies that were included in the research criteria, which were engaged in the Infrastructure and Construction Sector listed on the Indonesia Stock Exchange (IDX). Data collection techniques are documentation techniques and then the data are analyzed using multiple linear regression analysis. The results of this study indicate that partially, inflation, exchange rates and DER have no effect on firm value. ROE has a positive and significant effect on firm value. The variable that has the most dominant influence on firm value is ROE. This shows that among the research variables, ROE most influences investors' decisions to buy the company's shares.                                                                  Penelitian ini bertujuan untuk mengetahui pengaruh faktor-faktor fundamental makro dan mikro terhadap nilai perusahaan, yang mengambil objek penelitian pada perusahaan sektor infrastruktur dan sektor konstruksi di Bursa Efek Indonesia (BEI) pada periode 2015 sampai 2017 . Faktor-faktor fundamental makro terdiri dari inflasi dan kurs. Sedangkan faktor-faktor fundamental mikro terdiri dari DER dan ROE.Jenis penelitian yang digunakan adalah penelitian asosiatif. Populasi  dalam penelitian ini adalah 13 perusahaan yang masuk kriteria penelitian,  yang bergerak  pada Sektor Infrastruktur dan Sektor Konstruksi yang listed di Bursa Efek Indonesia (BEI). Teknik pengumpulan data adalah teknik dokumentasi dan selanjutnya data dianalisis menggunakan analisis regresi linier berganda. Hasil penelitian ini menunjukan bahwa secara parsial, inflasi, kurs dan DER tidak berpengaruh nilai perusahaan. ROE  berpengaruh positif dan signifikan terhadap nilai perusahaan. Variabel yang mempunyai pengaruh paling dominan terhadap nilai perusahaan adalah ROE. Hal ini menunjukkan di antara variabel-variabel penelitian, ROE yang paling mempengaruhi keputusan investor untuk membeli saham prtusahaan tersebutKeywords : inflation, exchange rate, DER and ROE
PERAN CORPORATE GOVERNANCE PADA HUBUNGAN DEFAULT RISK DENGAN EARNING RESPONSE Hermanto Hermanto; Ni Ketut Surasni; Firmansyah Firmansyah
JMM UNRAM - MASTER OF MANAGEMENT JOURNAL Vol. 8 No. 2 (2019): JMM Juni 2019
Publisher : Master of Management, Mataram University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (433.891 KB) | DOI: 10.29303/jmm.v8i2.423

Abstract

Company default risk will determine investor reaction on the increase of company earning. If financial statements contain information, then financial markets will react as a result of reported earnings. The primary focus of this study aims at analyzing the impact of default risk on earning response coefficient as well as the influence of corporate governance toward the connection between default risk and earning response coefficient. In addition, this study examines the influence of size and growth opportunity toward the earning response coefficient. This is a cross sectional study, analyzing year 2017 sample data. The research sample consists of 49 companies taken purposively from the list of companies in Indonesia Stock Exchange. Results of this study prove that default risk has a negative impact on earning response coefficient and that corporate governance can reduce the negative impact of default risk on earning response coefficient. This study also finds evidence that growth opportunity positively influences earning response coefficient.  Keywords: corporate governance; default risk; earning response coefficient; growth opportunity
PENGARUH DIMENSI DIMENSI IKLIM ORGANISASI TERHADAP KINERJA PEGAWAI DI BADAN KEPEGAWAIAN DAERAH PROVINSI NUSA TENGGARA BARAT Muhammad Amri Fuadi; Hermanto Hermanto; Lalu Suparman
JMM UNRAM - MASTER OF MANAGEMENT JOURNAL Vol. 9 No. 1 (2020): JMM Maret 2020
Publisher : Master of Management, Mataram University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (301.079 KB) | DOI: 10.29303/jmm.v9i1.475

Abstract

This research is directed to prove the significance of the influence of organizational climate dimensions in the form of physical environment (X1), social environment (X2) and management system (X3) on the dimensions of employee performance in the form of employee work goals (Y1) and employee work behavior (PKP). There are six hypotheses that are proven through a partial least square (PLS) analysis process. The population of this study (observation data) was 82 BKD NTB employees. Data was collected through questionnaires and all questionnaires returned in accordance with data input needs. Through the outer model stage there are two indicators of the social environment that are issued, namely the relationship of superiors with subordinates (LS1) and colleague relations (LS2) as well as two indicators of employee work behavior, namely commitment (PKP3) and leadership (PKP6). Indicators that are classified as valid get a reinforcement of criteria through the parameter AVE values above 0.50 and include reliable indicators through Cronbach's alpha parameters and composite reliability above 0.70. PLS analysis through the inner model stage found that all dimensions of the organization's climate have a positive influence (positive sign of the path coefficient) on the dimensions of employee performance.Keywords : Organizational Climate Dimensions and Employee Performance Dimensions.