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Nusa Muktiadji
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Analisis Sumber Dan Penggunaan Modal Kerja Terhadap Modal Kerja Muktiadji, Nusa; Lia, Lia
Jurnal Ilmiah Ranggagading (JIR) Vol 12, No 1 (2012): Jurnal Ilmiah Ranggagading
Publisher : Sekolah Tinggi Ilmu Ekonomi Kesatuan

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Abstract

The sources and uses of fund is a report presented by company to determine changes in financial position for each period. Company manager has resposibility of where the fund isobtained and how it is used. Each company is involved in various investment activities and expenditures. When carrying out those activities, the company produces fund. The fund is defined as cash and cash equivalents and it can also be interpreted as working capital. Working capital is defined as total current assets (gross working capital) or the difference or balance between current assets and debts (net working capital). The purpose of this study is to analyze the sources and uses of fund and to analyze the stage of corporate liquidity. The analysis conducted to determine whether the activity of sources and uses of working capital and liquidity increase or decrease in each period. The result shows that PT Indosat, Tbk. and PT XL Axiata, Tbk. use aggresive strategy to manage their working capital. It is evidenced by the existence of negative working capital each year and it has fluctuating liquidity. However when the two companies are compared, PT Indosat, Tbk. is better than PT XL Axiata, Tbk., especially in the stage of liquidity. The result of the evaluation shows that the working capital reduction of PT Indosat, Tbk. and PT XL Axiata, Tbk. produces negative number. It can be looked at the calculation of sources and uses as well as the liquidity stage of PT Indosat, Tbk. and PTXL Axiata, Tbk. Based on the result of this evaluation, the author suggest PT Indosat, Tbk. and PT XL Axiata, Tbk. reduce their curret debts, so that working capital generated can be increased. Specifically for PT XL Axiata, Tbk., it’s suggested to make existing cash of the company is not small any more.
Analisis Portfolio Optimal Pada Beberapa Perusahaan LQ-45 Komparasi Pendekatan Markowits Dan Model Indeks Tunggal Putri, Dwiana Sanjaya; Muktiadji, Nusa
Jurnal Ilmiah Manajemen Kesatuan Vol 5 No 1 (2017): JIMKES Edisi April 2017
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1079.798 KB) | DOI: 10.37641/jimkes.v5i1.24

Abstract

In order to minimize the risk, every investor will diverse their investments in a portfolio. This research will form two portfolios, containing three stocks with the highest return and the lowest risks, and with the dividend for the last five years. The two methods used are Single Index Model and Markowitz. Single Index Model involving market in its process while Markowitz only considering the correlation between each stocks. Later will be shown, that both methods’ results are the same for both returns (Individual stocks and portofolio), and a slightly different result with the portofolio’s risks. This proves that the correlation between stocks are also involving in the market. Alam Sutera Realty (ASRI), AKR Corporindo (AKRA), and Global Mediacom (BMTR) are chosen as they have the highest return since 2010, while Astra Agro Lestari (AALI), Adhi Wijaya (ADHI), and Bank Negara Indonesia (BBNI), are chosen for its lowest risk for the last five years. The portfolio A’s returns, calculated with Markowitz method is 45.7% and the risk is 33.78%, and the single index model results for return is exactly the same, 45.7% while the risk is slightly different, 35.8%. The portfolio B’s return, calculated with Markowitz method is 20.7% and the risk is 27.67%, and the single index model’s result for return is exactly the same, 20.7% while the risk is slightly different, 28.24%.
Analisis Pengaruh Basic Earning Power, Struktur Modal, Dan Kebijakan Dividen Terhadap Harga Saham Perusahaan Muktiadji, Nusa; Ningrum, Eka Soesilawati
Jurnal Ilmiah Manajemen Kesatuan Vol 6 No 1 (2018): JIMKES Edisi April 2018
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (166.37 KB) | DOI: 10.37641/jimkes.v6i1.35

Abstract

Stock price movement is a reflection of a company value caused by many factors, both of internal and external. The higher stock price means higher the company value and it will better attract the investors. Variables used in this research consist of three independent variables, they are Basic Earning Power with Basic Earning Power as the indicator, Capital Sturcture with Debt to Equity Ratio (DER) as the indicator, and Dividend Policy with Dividend Payout Ratio (DPR) as the indicator, and one dependent variable that is Stock Price. Research period is during year 2005 until 2014. Data that used in this research is quantitative data with secondary source which analysed by trend method, regression, significance F and t test, and coefficient of determination. Trend analysis is used to determine the trend of the movement of all variables during the period of year 2005 until 2014. Regression analysis is used to determine direction and influenceof the independent variables to the dependent variable. Sigificance test is used to determine whether influence of the independent variable to the dependent is significantly to α 5% (0.05). The Correlation analysis and determination is used to know level of the correlation and strength of the independent variables to the dependent variable.The trend analysis method showed that during the research period basic earning power, capital structure, and dividend policy is increase and decrease. Classic assumption test showed that all of data that used in the research was completed the requirement. The result of the research showed that partially, capital structure variable had a real influence to the company stock price. As we could see that F test point for capital structure is 4,690 andsignificance point is 0,000. Then the rest of the variables, there are basic earning power and dividend policy didn’t have real influence to the stock price. Then the result of the research showed that simultaneously, all of the variables that used in the research had a real influence to the stock price. As we could see that F test point is 21,466 and significance point is 0,000
Pengaruh Motivasi Belajar Dan Status Ekonomi Orang Tua Terhadap Minat Studi Lanjut Siswa/Siswi Sma Dan Smk Di Bogor Pada Bidang Ekonomi Dan Manajemen Sudradjat, Sudrajat; Muktiadji, Nusa; Gendalasari, Gen Gen; Hendrian, Ganjar
Jurnal Ilmiah Manajemen Kesatuan Vol 4 No 3 (2016): JIMKES Edisi Desember 2016
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (745.316 KB)

Abstract

The interest to continue study to higher education in high school students is formed by many factors. To name a few, first is the motivation to study, and the second is the parents’ social economy condition. The students with higher motivation are suspected to have bigger chance to continue study compared to students with lower motivation to study. This also works for the parents’ state of social economy. The research is conducted with 1.024 respondents of high school students in Bogor. To learn the influence of motivation and parents’ state of social economy in continuing study to higher education, logistic regression is used as research analysis method. The results show that motivation to study has significant influence on high school students’ interest to continue their study in Bogor. Formal education and parents’ average income do not influence the shaping of interest to continue study. The faculty of economy and management are discovered as most wanted program by high school students in Bogor.
Asset Management, Pt Taisho Pharmaceutical Tbk Wiratama, Aldi; Muktiadji, Nusa; Cahyani, Nani
Jurnal Ilmiah Manajemen Kesatuan Vol 7 No 1 (2019): JIMKES Edisi April 2019
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (601.887 KB) | DOI: 10.37641/jimkes.v7i1.207

Abstract

Assets are important aspects of a company. Many firms still consider physical assets management as a tool or instrument in assets list management. The reality reveals that many cases initially started off from assets mismanagement, and eventually cause great loss to the company. Assets management is a process of wealth management both tangible and intangible ones, that are expected to have economic values and aimed at gaining profit and reduce costs efficiently and effectively. An appropriate assets management improves financial performance and increases revenues from assets utilization and reduces maintenance costs. The study aims at identifying how the financial performance and assets management in PT Taisho Pharmaceutical, Tbk. seen from its financial ratios and how its financial performance compared to industrial average financial performance of pharmaceutical sub sector. The financial reports used in this study are obtained from idx.co.id for the periods of 2012-2016. Analytical methods used are trend analysis, operating cycle, and financial ratio analysis. Based on the analysis, it can be concluded that assets management of PT Taisho Pharmaceutical generally fall into good category. This can be viewed from the activity ratios (TATO, CATO, FATO, INTO, ARTO) which are visibly increasing. Nonetheless, the company could not afford to optimize the efficiency of cost of goods sold and operating cost, and it has caused a less maximum gain in profits. The percentage of cost of goods sold and operating costs are larger than the sales percentage. The large amount of cost of goods sold is due to company’s policy granting employees extra training to produce more innovation for new products, and the increasing operating costs occurred owing to company’s increaseing sales volumes which resulted in additional costs for packing, delivery, and electrical engines. There are still some major improvements to make, considering some of the financial ratios are still under the average industrial score for pharmaceutical sub sector. The improvement of financial performance is necessary to push the profit gains and advancing the stakeholders wellfare.
Valuasi Kinerja Keuangan Dan Kinerja Saham (Studi Kasus PT Multistrada Arah Sarana Tbk). Nikmah, Karimatun; Muktiadji, Nusa
Jurnal Ilmiah Manajemen Kesatuan Vol 7 No 2 (2019): JIMKES Edisi Agustus 2019
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (374.209 KB) | DOI: 10.37641/jimkes.v7i2.227

Abstract

This study aims to determine the effect of the company's financial performance on the company's stock performance. Based on the results of research, discussion and analysis conducted, it is known that overall company performance is affected by major problems namely due to slowing global economic conditions, oversupply of Chinese tires, weakening of the world currency against the USD and falling commodity prices of rubber being a factor decrease in sales volume and affect the amount of net profit generated by the company. Inefficiency in suppressing cost of goods sold and operating expenses also causes the erosion of operating profits generated by the company. So that it affects the financial performance and overall stock performance which also impacts the decline in the value of the company.
Analisis Kebijakan Dividen Terhadap Nilai Intrinsik dan Nilai Pasar Perusahaan Muktiadji, Nusa; Felicia, Felicia
Jurnal Ilmiah Manajemen Kesatuan Vol 1 No 2 (2013): JIMKES Edisi Agustus 2013
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (298.646 KB) | DOI: 10.37641/jimkes.v1i2.259

Abstract

Dividend policy is basically a company’s decision in determining how much net income wil be distributed to shareholders as dividend and how much will be retained. Dividend policy is able to influence intrinsic and market value of a company. In this study, the proxy of dividend policy is Dividend Pay-out (DPO) as independent variable and intrinsic value as dependent variable with indicator that is multiplication result of Earning Multiplier (EM) and Company Market Value obtained from stock price data of LQ45 at closing price. The purpose of this study is to identify the relationship between variables, the influence of independent variable to dependent variable, and finally to measure how significant the influence of variable X to variable Y will be, dividend policy to intrinsic and market value of the company. This case study was conducted at PT Aneka Tambang Tbk. and PT Timah Tbk., both are mining company. The results of this study are: 1) Dividend policy proxied by DPO has significant influence and relationship to the intrinsic value of PT Aneka tambang Tbk. But, at PT Timah Tbk., dividend policy to intrinsic value is not significant with alpha as high as 193.064, it’s due to the dividend policy does not influence the intrinsic value, but the intrinsic value is more influenced by EPS. 2) Dividend policy proxied by DPO has connection and fairly significant influence with the company’s market value at PT Aneka Tambang Tbk. But, at PT Tima Tbk., dividend policy to the company’s market value is not significant with alpha as high as 54.859, it’s due to the dividend policy does not influence the company’s market value, but the intrinsic value is influenced dominantly by the company’s market value. The result of the research shows that the dividend policy at PT Aneka Tambang Tbk has impact on intrinsic and market value better than the dividend policy has impact on intrinsic and market value at PT Timah Tbk. Keywords: dividend policy; intrinsic value; market value
Analisis Modal Kerja Dan Pengaruhnya Terhadap Pertumbuhan Perusahaan Muktiadji, Nusa; Sastra, Heri
Jurnal Ilmiah Manajemen Kesatuan Vol 1 No 3 (2013): JIMKES Edisi Desember 2013
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (255.849 KB) | DOI: 10.37641/jimkes.v1i3.271

Abstract

Working capital is one of important factors in a company. It’s current asset which easy to be cashed and utilized for daily operational activities of the company. The amount of reasonable working capital in a company is the amount of working capital which is enough or in mutual accord with the fund needed to finance the operational activities. The purpose of this research is to find out the correlation and impact of working capital on the company’s growth. The analysis is done to know whether the amount of working capital has correlation and impact towards the company’s growth. The research was conducted at PT. Indocement Tunggal Prakarsa, Tbk, the national companies running in cement. The result of the research shows that PT. Indocement Tunggal Prakarsa, Tbk has been efficient in managing their working capital. It’s proven by the more increase of working capital of the the companies. PT. Indocement Tunggal Prakarsa, Tbk has been able to make profit with the result that there is growth in the company. Yet, at PT. Indocement Tunggal Prakarsa, Tbk, the profit yielded cannot make the growth increases. Keywords : Working capital; growth.
Analisis rasio LDR, Leverage dan Profitabilitas Untuk Menilai Pertumbuhan Laba Septiana, Riska; Muktiadji, Nusa
Jurnal Ilmiah Manajemen Kesatuan Vol 8 No 2 (2020): JIMKES Edisi Agustus 2020
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v8i2.355

Abstract

Penelitian ini bertujuan untuk mengetahui bagaimana pengaruh Loan to Deposit Ratio, Debt to Asset Ratio dan Return on Assets Terhadap Pertumbuhan Laba yang terjadi pada PT. Bank Rakyat Indonesia Tbk, PT. Bank Mandiri Tbk, PT. Bank Negara Indonesia Tbk, PT. Bank Central Asia Tbk, PT. Bank Panin pada tahun 2014-2018. Data yang digunakan pada penelitian ini adalah data kuantitatif dengan sumber data sekunder yang berasal dari laporan keuangan masing-masing bank. Penelitian ini menggunakan metode analisis statistik deskriptif, analisis inferensia, uji asumsi klasik, analisis linear berganda dan koefisien determinasi. Analisis regresi digunakan untuk mengetahui bagaimana pengaruh variabel independen terhadap variabel dependen dengan nilai signifikasi 5 persen. Sedangkan analisis koefisien determinasi digunakan untuk mengetahui hubungan antara variabel independen dan variabel dependen. Dari uji hipotesis secara parsial (Uji T) yang telah dilakukan oleh penulis diperoleh hasil bahwa Loan to Deposit Ratio berpengaruh terhadap Pertumbuhan Laba, Debt to Asset Ratio tidak berpengaruh terhadap Pertumbuhan Laba dan Return on Assets berpengaruh terhadap Pertumbuhan Laba. Untuk uji hipotesis secara simultan (Uji F) diperoleh hasil bahwa variabel independen yaitu Loan to Deposit Ratio, Debt to Asset Ratio dan Return on Assets berpengaruh secara simultan terhadap Pertumbuhan Laba. Kata Kunci : Loan to Deposit Ratio (LDR), Debt to Asset Ratio (DAR), Return On Assets (ROA), Pertumbuhan Laba.
Pengaruh Loan To Deposit Ratio, Capital Adequacy Ratio, Dan Non Performing Loan Terhadap Profitabilitas Perbankan Yang Terdaftar Di Bursa Efek Indonesia (BEI) Fanesha, Fanesha; Muktiadji, Nusa; Hendrian, Ganjar
Jurnal Ilmiah Manajemen Kesatuan Vol 9 No 2 (2021): JIMKES Edisi Agustus 2021
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v9i2.764

Abstract

This study aims to determine how the influence of Loan to Deposit Ratio, Capital Adequacy Ratio and Non Performing Loans on Banking Profitability Listed on the Indonesia Stock Exchange (IDX) that occurs at PT Bank Central Asia Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Mandiri (Persero) Tbk, PT Bank CIMB Niaga Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Tabungan Negara (Persero) in 2014-2018. The data used in this study are quantitative data with secondary data sources derived from the financial statements of each bank. This research uses descriptive statistical analysis methods, inference analysis, classic assumption test, multiple linear analysis and coefficient of determination. Regression analysis is used to find out how the influence of independent variables on the dependent variable with a significance value of 5 percent. While the determination coefficient analysis is used to determine the relationship between the independent variable and the dependent variable. From the partial hypothesis test (T Test) that has been done by the author, it is obtained that the Loan to Deposit Ratio affects Return On Assets, Capital Adequacy Ratio has no effect on Return On Assets and Non Performing Loans has no effect on Return On Assets. For simultaneous hypothesis testing (Test F), the results obtained are that the independent variables namely Loan to Deposit Ratio, Capital Adequacy Ratio and Non Performing Loans simultaneously influence the Return on Assets. Key words : Loan to Deposit Ratio (LDR), Capital Adequacy Ratio (CAR), Non Performing Loan (NPL), Return On Asset (ROA).
Co-Authors Anna Setiana Atala Paramita Bambang Hengky Rainanto Deviena, Cinthia Dini Trisnawati Fanesha Fanesha Fanesha, Fanesha Felicia Felicia Firli Febiyoti Putri Ganjar Hendrian Gen Gen Gendalasari Halida Halida Hendrian, Ganjar Heri Sastra Heri Sastra Heti Herawati Iswandi Sukartaatmadja Lia Lia Lukman Hidayat Marwan Effendy Melinda Melinda Mumuh Mulyana Nani Cahyani Nani Cahyani Neni Nurisnaini Nikmah, Karimatun Ningrum, Eka Soesilawati Noor Achmad Putri, Dwiana Sanjaya Riska Septiana Ronal Kamage Ross, Shadam Azzahra Samuel Soemantri Septiana, Riska Shadam Azzahra Ross Soei Khim Sri Melati Nababan Sudradjat, Sudrajat Sultan Fajar Fadillah Triandi Triandi Tubagus Dicky Faldy Syahid Noor Wiratama, Aldi Yesi Oktaria Yoyon Supriadi