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SHORT CONTRARIAN INVESTMENT STRATEGY : PENGUJIAN WINNER-LOSER ANOMALY PADA SAHAM-SAHAM DI BURSA EFEK INDONESIA Ekaningtyas Widiastuti; Jaryono Jaryono
Performance: Jurnal Personalia, Financial, Operasional, Marketing dan Sistem Informasi Vol 14 No 2 (2011): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (233.852 KB)

This research is aimed to examine the winner-loser anomaly based on the overreaction hypothesis that can be decided whether the contrarian investment strategy in the short term can be applied in Indonesia Stock Exchange to obtain the return. The overreaction hypothesis is a manifestation of the inefficiency of the market (De Bondt and Thaler, 1985). Research on Short Contrarian Investment Strategy used a sample of 23 shares in the company's property and real estate sectors. The data used is stock price during the period of 2004-2008. Results obtained by using market-adjusted abnormal return indicates that the average six-month test period only loser in the stock portfolio return reversal happens. This research also examines the possibility of other factors that could explain the market overreaction return reversal, namely size and risk control. Results obtained using regression Zero Cost Investment Portfolio with the method of size and risk adjusted returns indicates that average during the six month test period showed that the loser stocks can not provide a return that is higher than the winner stocks. Thus the research indicates only loser anomaly, this is caused by an overreaction to the bad news. So it can be said that there is no potential for profit if the short-term contrarian strategy applied to the property and real estate sectors in BEI.

Technology Based Financial Services Innovation, Financial Literacy and Its Impact on Financial Behavior Ekaningtyas Widiastuti
Jurnal Akuntansi, Manajemen dan Ekonomi Vol 23 No 1 (2021): VOL. 23, NO.1, 2021
Publisher : Faculty of Economics and Business, Jenderal Soedirman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jame.2021.23.1.3856

Information technology grows rapidly and has brought tremendous benefits to the advance of human civilization. People in Indonesia are well known with their quick adaptation ability to any changes including changes in information technology, such as in utilizing available financial services. University students as millennial generation cannot be separated from technology in all aspects including finance. Innovative technology-based financial services (Fintech) provide flexibility for the community, including students, to meet their needs. Financial knowledge and understanding will influence a person in making decisions and behaving appropriately related to effective and efficient financial management. This research focused on students at different universities in Purwokerto, to examine the impact of technology-based financial service innovation and financial literacy on student financial behavior. Questionnaire was used as the data collection method. Convenience sampling was used as the sampling technique and multiple linear regression used as data analysis in this study. The results showed that Social Demography, Financial Socialization and Fintech had no influence on financial behavior. Financial Knowledge and Financial attitude had a positive influence on financial behavior.

PENGARUH LITERASI KEUANGAN, PENGENDALIAN DIRI, DAN TEMAN SEBAYA TERHADAP PERILAKU KONSUMTIF (STUDI KASUS MAHASISWA PENDIDIKAN EKONOMI UNIVERSITAS JENDERAL SOEDIRMAN) Zulfi Rahmawati; Titi Nurfitri; Ekaningtyas Widiastuti
Soedirman Economics Education Journal Vol 4 No 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/seej.v4i1.5548

Penelitian ini merupakan penelitian yang bertujuan untuk mengetahui pengaruh literasi keuangan, pengendalian diri, dan teman sebaya terhadap perilaku konsumtif mahasiswa. Populasi dalam penelitian ini yaitu mahasiswa pendidikan ekonomi mulai dari angkatan 2017 sampai 2019 yang berstatus aktif. Teknik pengambilan sampel pada penelitian ini menggunakan teknik proportionate stratified random sampling sehingga didapatkan sampel sebanyak 107 mahasiswa. Pengumpulan data dengan metode kuesioner. Teknik analisis data yang digunakan adalah analisis regresi berganda. Berdasarkan hasil penelitian dan analisis data menunjukkan bahwa (1) Terdapat pengaruh negatif signifikan literasi keuangan terhadap perilaku konsumtif; (2) Terdapat pengaruh negatif signifikan pengendalian diri terhadap perilaku konsumtif; (3) Terdapat pengaruh positif signifikan teman sebaya terhadap perilaku konsumtif. Implikasi penelitian ini adalah perlunya meningkatkan literasi keuangan melalui pembelajaran yang lebih inovatif dan pengendalian diri untuk meminimalisir perilaku konsumtif.

Technology Based Financial Services Innovation, Financial Literacy and Its Impact on Financial Behavior Ekaningtyas Widiastuti
Jurnal Akuntansi, Manajemen dan Ekonomi Vol 23 No 1 (2021): Januari - Maret 2021
Publisher : Faculty of Economics and Business, Jenderal Soedirman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jame.2021.23.1.3856

Information technology grows rapidly and has brought tremendous benefits to the advance of human civilization. People in Indonesia are well known with their quick adaptation ability to any changes including changes in information technology, such as in utilizing available financial services. University students as millennial generation cannot be separated from technology in all aspects including finance. Innovative technology-based financial services (Fintech) provide flexibility for the community, including students, to meet their needs. Financial knowledge and understanding will influence a person in making decisions and behaving appropriately related to effective and efficient financial management. This research focused on students at different universities in Purwokerto, to examine the impact of technology-based financial service innovation and financial literacy on student financial behavior. Questionnaire was used as the data collection method. Convenience sampling was used as the sampling technique and multiple linear regression used as data analysis in this study. The results showed that Social Demography, Financial Socialization and Fintech had no influence on financial behavior. Financial Knowledge and Financial attitude had a positive influence on financial behavior.

CASH HOLDINGS AND FINANCIAL PERFORMANCE COMPANIES IN THE BASIC AND CHEMICAL INDUSTRY IN THE INDONESIAN STOCK MARKET Widiastuti, Ekaningtyas; Sulistyandari
JOURNAL OF MANAGEMENT, ACCOUNTING, GENERAL FINANCE AND INTERNATIONAL ECONOMIC ISSUES Vol. 2 No. 3 (2023): JUNE
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/marginal.v2i3.703

The modern business landscape is characterized by dynamic interactions between various financial indicators that influence a company's financial health and performance. This study aims to investigate the impact of growth, liquidity, and profitability on capital reserves. It is an associational quantitative study that utilizes secondary data. The present research adopts an associational quantitative approach, utilizing secondary data from a five-year period spanning from 2016 to 2020. The population of interest comprises basic and chemical industrial enterprises that are publicly listed on the Indonesia Stock Exchange. The study employs a robust combination of literature review and documentation techniques to collect pertinent data, creating a comprehensive foundation for analysis. To rigorously investigate the interplay of growth, liquidity, profitability, and their connection to capital reserves, the study employs advanced panel data regression analysis. The analysis reveals that growth exerts no discernible impact on cash on hand, suggesting that while expansion may drive other financial outcomes, it does not directly affect the immediate availability of capital reserves. Conversely, liquidity emerges as a crucial determinant, exhibiting a positive influence on cash on hand. This underscores the importance of maintaining a robust liquidity position, which enables companies to effectively manage day-to-day financial obligations and seize strategic opportunities. Furthermore, the study establishes a positive correlation between profitability and cash on hand. Companies that exhibit higher profitability are more likely to accumulate substantial capital reserves, reflecting a capacity to generate surplus funds even after accounting for operational expenses.

THE ROLE OF IMPROVING ENTREPRENEUR COMPETENCY, INNOVATION AND USE OF SOCIAL MEDIA IN THE SUSTAINABILITY OF MSMES IN BANYUMAS DISTRICT Kholifaturrohmah, Ramita; Widiastuti, Ekaningtyas; Mulasiwi, Cut Misni; Wakhidati, Yusmi Nur
JOURNAL OF MANAGEMENT, ACCOUNTING, GENERAL FINANCE AND INTERNATIONAL ECONOMIC ISSUES Vol. 3 No. 1 (2023): DECEMBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/marginal.v3i1.873

Every company must be able to compete in facing the challenges of globalization. Increasing business actors' competence (knowledge, skills, abilities) and innovative products is a primary concern to win the competition and achieve business sustainability. Mainly if MSMEs can utilize social media strategically in developing their business. This research focuses on MSMEs in the Banyumas Regency area to examine increasing entrepreneurial competence, innovation and the use of social media towards achieving sustainable MSMEs. The sample obtained was 51 MSME respondents. The analysis method uses multiple regression. Based on the results of the analysis, it shows that knowledge and social media have a positive and significant effect on the sustainability of MSMEs. In contrast, skills, abilities and innovation do not affect the sustainability of MSMEs. Based on the research results, the implication is that MSME actors can pay more attention to skills, abilities, and innovation, which must continue to be improved to produce better patterns, motifs and product quality and will maintain the company's existence and compete sustainably.

THE EFFECT OF TAX AVOIDANCE, PROFITABILITY, AND LEVERAGE ON DIVIDEND POLICY: LIQUIDITY AS MODERATING VARIABLE Hanifah, Fitria; Widiastuti, Ekaningtyas; Najmudin, Najmudin
JOURNAL OF MANAGEMENT, ACCOUNTING, GENERAL FINANCE AND INTERNATIONAL ECONOMIC ISSUES Vol. 3 No. 2 (2024): MARCH
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/marginal.v3i2.913

This study examines the effect of tax avoidance, profitability, and leverage in dividend policy; this case study was conducted at IDX80. IDX80 is a list created by the Indonesian stock exchange where this index measures the price performance of 80 stocks with high liquidity and large market capitalization. This research was conducted in 2018 - 2021, using a purposive sample method; 96 samples were obtained. The results of this study indicate that tax avoidance does not affect the company's dividend policy, while profitability and leverage affect dividend policy. Legal tax avoidance by the company does not have a direct effect on the company's dividend policy. So, even though the company practices tax avoidance, this will not have a significant effect on the decision to distribute dividends. Profitability has a positive and significant impact on dividend policy, which means that if the company's profitability increases, the dividend policy will also increase. Then leverage has a negative and significant effect on dividend policy, which means that when the company's leverage is high, the dividends distributed by the company will decrease. Then, this study uses liquidity as a moderating variable, showing that liquidity moderates the relationship between profitability and dividend policy. In contrast, high liquidity can weaken the relationship between profitability and dividend policy.

Analysis of the Influence of Mudharabah Financing, Musyarakah Financing, Capital Adequacy Ratio, and Non-Performing Financing on Banking Performance with Qardhul Hasan as Control Variable (Case Study on Islamic Commercial Banks in Indonesia in 2013-2017) Alfiyah, Mike Ayu; Widiastuti, Ekaningtyas; Sudarto, Sudarto
Indonesian Journal of Islamic Business and Economics (IJIBE) Vol 5 No 1 (2023): IJIBE
Publisher : Islamic Economic Scholar Association and Faculty of Economics and Business Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.ijibe.2023.5.1.8788

This research entitled "Analysis of the Influence of Mudharabah Financing, Musyarakah Financing, Capital Adequacy Ratio (CAR), and Non-Performing Financing (NPF) on Banking Performance with Qardhul Hasan as Control Variable (Case Study in Sharia Commercial Banks in Indonesia 2013-2017)". The purpose of this research is to analyze the influence of Mudharabah Financing, Musyarakah Financing, CAR, and NPF against Banking Performance with Qardhul Hasan as a Control Variable and to know the variables that have a dominant influence on Banking Performance in Sharia commercial banks that were recorded in the Financial Services Authority in 2013-2017. The population of this research is Sharia commercial banks listed by the Financial Services Authority in 2013-2017. The total population is 13, and eight samples were obtained using purposive sampling. The type of this research is quantitative research associated with panel data regression analysis techniques. Based on the analysis results, it is found that Mudharabah Financing does not affect Return On Assets. Musyarakah Financing does not affect Return On Assets. Capital Adequacy Ratio does not affect Return On Assets, and Non-Performing Financing has a negative effect on Return On Assets. This research implies that banks are expected to pay more attention to the level of capital adequacy and management of problematic financing to increase profitability.

THE ROLE OF INFORMATION TECHNOLOGY AND CREATIVITY IN ACHIEVING BUSINESS SUSTAINABILITY Widiastuti, Ekaningtyas; Sulistyandari, Sulistyandari
Jurnal Ekonomi Kreatif dan Manajemen Bisnis Digital Vol 2 No 4 (2024): MEI
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/jekombital.v2i4.672

This research investigates how information technology and creativity contribute to the sustainability of businesses run by students enrolled in the Student Entrepreneurship Program at Universitas Jenderal Soedirman. To gather empirical data, a structured questionnaire was administered to 100 entrepreneurial students participating in the program. The sample was selected using convenience sampling, a method often employed in exploratory research to quickly gather relevant data from a readily accessible population. The collected data was subjected to rigorous statistical analysis using the SPSS software, specifically employing the Multiple Linear Regression method to ascertain the relationship between the independent variables (information technology and creativity) and the dependent variable (business sustainability). The results of the analysis revealed a significant positive impact of both information technology and creativity on the sustainability of student-run businesses. Information technology, with its ability to streamline operations, enhance communication, and provide access to broader markets, emerged as a crucial factor in ensuring business continuity and growth. Concurrently, creativity was identified as a key driver of innovation, enabling businesses to adapt to changing market conditions and develop unique value propositions. In light of these findings, the study underscores the importance of optimizing the use of information technology and fostering a creative mindset among student entrepreneurs. To enhance business performance and sustainability, it is recommended that educational institutions and policy-makers support initiatives that provide students with access to cutting-edge technological tools and encourage creative problem-solving.

PENGARUH LITERASI KEUANGAN, PENGENDALIAN DIRI, DAN TEMAN SEBAYA TERHADAP PERILAKU KONSUMTIF (STUDI KASUS MAHASISWA PENDIDIKAN EKONOMI UNIVERSITAS JENDERAL SOEDIRMAN) Rahmawati, Zulfi; Nurfitri, Titi; Widiastuti, Ekaningtyas
Soedirman Economics Education Journal Vol 4 No 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/seej.v4i1.5548

Penelitian ini merupakan penelitian yang bertujuan untuk mengetahui pengaruh literasi keuangan, pengendalian diri, dan teman sebaya terhadap perilaku konsumtif mahasiswa. Populasi dalam penelitian ini yaitu mahasiswa pendidikan ekonomi mulai dari angkatan 2017 sampai 2019 yang berstatus aktif. Teknik pengambilan sampel pada penelitian ini menggunakan teknik proportionate stratified random sampling sehingga didapatkan sampel sebanyak 107 mahasiswa. Pengumpulan data dengan metode kuesioner. Teknik analisis data yang digunakan adalah analisis regresi berganda. Berdasarkan hasil penelitian dan analisis data menunjukkan bahwa (1) Terdapat pengaruh negatif signifikan literasi keuangan terhadap perilaku konsumtif; (2) Terdapat pengaruh negatif signifikan pengendalian diri terhadap perilaku konsumtif; (3) Terdapat pengaruh positif signifikan teman sebaya terhadap perilaku konsumtif. Implikasi penelitian ini adalah perlunya meningkatkan literasi keuangan melalui pembelajaran yang lebih inovatif dan pengendalian diri untuk meminimalisir perilaku konsumtif.

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