Articles
<![CDATA[APLIKASI SINGLE INDEX MODEL DALAM PEMBENTUKAN PORTOFOLIO OPTIMAL SAHAM LQ45 DAN JAKARTA ISLAMIC INDEX ]]>
<![CDATA[Oktaviani, Berlian Nanda]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 5 No 3 (2016): Managemant Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v5i3.10651
<![CDATA[The aim of this study is to constructing optimal portfolio from LQ45 stocks and Jakarta Islamic Index stock in 2013-2015 as well as calculating the portfolioâs return, risk and itâs performance. Sample of this study are 29 listed companies from LQ45 and 19 listed companies from JII selected by purposive sampling method. This study applying Sharpeâs single index model to constructing an optimal portfolio and Jensenâs Index to measure the portfolio performance. The result of calculations using Sharpeâs single index model that includes the LQ45 optimal portfolio with the proportion of funds that of UNVR as 52.15%, AKRA as 28.77% and ICBP as 19.06%. The LQ45 portfolio has return as 1.77% along with risk as 2.73% with performance as 0.0147709. The portfolio formed from JII along with the proportion of funds is UNVR as 50.80%, AKRA as 27.63%, ICBP as 18.31%, WIKA as 3.97%. The JII portfolio has return as 1.77%, risk as 2.93% with performance 0.0150893. The conclusions of this study is to diversify with a single index model proved to be more favorable and unfavorable views of portfofolio performance compared to the performance of IHSG. Suggestion related to this study is conventional investor may pick LQ45 portfolio and Islamic investor may select JII portfolio as their investment policy.]]>
<![CDATA[PENGARUH KUALITAS KEHIDUPAN KERJA TERHADAP KINERJA KARYAWAN DENGAN KEPUASAN KERJA SEBAGAI VARIABEL INTERVENING ]]>
<![CDATA[Setiyadi, Yusuf Wildan]]>;
<![CDATA[Wartini, Sri]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 5 No 4 (2016): Managemant Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v5i4.12306
<![CDATA[Decreased levels of employee performance of sales in the last year, among 1.1 % on a special performance and employee absenteeism rate target of 1% is not achievable indicate satisfaction and quality of life of employees can affect employee performance. The problem in this research is there any influence of the quality of work life , job satisfaction on employee performance. The population in this study were all employees of Honda Semarang Center Setiabudi 521 people with a sample of 84 people using the formula Slovin. Methods of data collection using questionnaires, methods of analysis, test instrument (validity and reliability test), descriptive analysis of the percentage, the classic assumption test, multiple regression analysis and path analysis. The results showed that the variable quality of worklife positive effect on job satisfaction; the variable quality of working life has positive influence on employee performance; variable job satisfaction has positive influence on employee performance; and the variable quality of working life through the indirect effect of job satisfaction on employee performance. Suggestions for the company in improving the performance of employees in order to pay attention to aspects of quality of work life and job satisfaction of employees proved influential on employee performance.]]>
<![CDATA[ANALISIS PERBEDAAN RETURN DAN RISIKO SAHAM PORTOFOLIO OPTIMAL DENGAN BUKAN PORTOFOLIO OPTIMAL ]]>
<![CDATA[Pardosi, Bernanto]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 4 No 1 (2015): Management Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v4i1.7210
<![CDATA[The aim of this study is to find out if there are any differences of return and risk between optimal portfolio candidate and non-optimal portfolio candidate. This is a quantitative study with purposive sampling technique. Population of this study is all data of IDX 30 index which is 42 whereas the sample is 15. Analysis model that is used in this study is Markowitz method. The results of calculations using the Markowitz methods that includes the optimal portfolio with the proportion of funds that of UNVR stock as 31.19%, BBCA stock as 16.69%, ADRO stock as 14.14%, UNTR stock as 13.43%, PGAS stock as 9.33%, INDF stock as 7.73% and GGRM stock as 7.50%. The conclusion of this study is that there are no significant differences of return and risk on the formation of optimal portfolio. This shows that the preferences of investors do not consider the calculation methods Markowitz and indifference curve in selecting the optimal portfolio. Suggestion related to this study is that investor and investment manager may execute the investment fund to form an optimal portfolio Markowitz method as a benefit from stock diversification]]>
<![CDATA[PENGARUH KEPUTUSAN INVESTASI, PENDANAAN, DAN DIVIDEN TERHADAP NILAI PERUSAHAAN DENGAN RISIKO SEBAGAI VARIABEL MEDIASI ]]>
<![CDATA[Sari, Evrila Lupita]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 4 No 4 (2015): Management Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v4i4.9268
<![CDATA[The aim of this research is to know the influence of investment desicion, funding and dividend to the firm value with the risk as a mediation variable. Population that is used in this research is a company manufacturing sector which is listed on Indonesia Stock Exchange in the period from 2011 until 2013. Number of sample that used in this research is 60 samples with the method purposive sampling.  Firm value variable is proxied by Price Book Value Ratio (PBR),  Investment decision is  proxied by Price Earning Ratio (PER), financing decision  subtitued by Debt to Equity Ratio (DER), dividend policy is proxied by Dividend Pay Out Ratio (DPR) and business risk subtitued by Degree of Operating Leverage (DOL). Data Analysis using multiple regression analysis and line analysis by using a SPSS 16 program. The research concluded that only the investment decisions and the funding decision which has an effect on the firm value.]]>
<![CDATA[Pengaruh Frekuensi Perdagangan Saham, Volume Perdagangan Saham, Kapitalisasi Pasar dan Jumlah Hari Perdagangan terhadap Return Saham (Studi pada Saham Perusahaan Dagang Eceran yang Terdaftar dalam Indeks Saham Syariah Indonesia Sebelum Sampai Sesudah Bul ]]>
<![CDATA[taslim, ahmad]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 5 No 1 (2016): Management Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v5i1.5781
<![CDATA[The purpose of this study is to determine how much effect of trading frequency, trading volume, market capitalization, and the sum of trading days on stock returnsbefore to after ramadhan. This research used secondary data from Indonesia Stock Exchange. Object study on Retail Trade Company Shares Listed In Indonesia Sharia Stock Index Before to Afterof Ramadan 2012-2014. The technique sampling used purposive sampling, methods of analysis using multiple linear regression analysis. The results of the analysis show: the trading frequency variable significant positive effect on stock returns, trading volume variable, market capitalization and trading day variables significant negative effect on stock returns.]]>
<![CDATA[Fenomena Anomali Pasar di Bursa Efek Indonesia dan Bursa Efek Singapura ]]>
<![CDATA[Khoidah, Indah]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 6 No 1 (2017): Management Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v6i1.10373
<![CDATA[Ada tiga macam bentuk teori pasar efisien, salah satunya adalah pasar efisien bentuk lemah dimana investor tidak dapat menggunakan informasi masa lalu untuk memprediksi nilai di masa sekarang. Sementara itu, anomali pasar efisien merupakan hal yang bertentangan dengan teori pasar efisien. Tujuan dari penelitian ini adalah untuk mengetahui apakah terjadi fenomena Monday Effect, Weekend Effect, dan Month of The Year Effect pada Bursa Efek Indonesia dan Bursa Efek Singapura. Populasi penelitian ini merupakan data harga penutupan harian IHSG dan STI periode 12 Februari 2014 â 12 Februari 2016. Teknik sampling yang digunakan adalah sampling jenuh untuk pengujian Monday Effect & Month of The Year Effect sedangkan purposive sampling untuk pengujian Weekend Effect. Metode analisisnya menggunakan model ANOVA dan analisis regresi linear. Hasil dari penelitian ini menunjukkan bahwa pada uji hipotesis pertama dan kedua terjadi kesamaan hasil pengujian, yaitu ditemukan fenomena Monday Effect pada Bursa Efek Indonesia dan Bursa Efek Singapura. Uji hipotesis ketiga dan keempat juga terdapat kesamaan hasil, yaitu tidak ditemukan fenomena Weekend Effect pada kedua bursa. Uji hipotesis kelima dan keenam ditemukan perbedaan hasil pengujian fenomena Month of The Year Effect, dalam hal ini Bursa Efek Indonesia terjadi pada bulan Februari sedangkan di Bursa Efek Singapura pada bulan Januari & Agustus. Berdasarkan hasil penelitian, penulis menyarankan agar peneliti selanjutnya dapat menggunakan teknik analisis yang berbeda dan investor dapat memperhatikan hari maupun bulan perdagangan sebelum mengambil keputusan investasi.]]>
<![CDATA[Pertumbuhan dan Ukuran Perusahaan pada Stock Split ]]>
<![CDATA[Novitasari, Anggi]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 7 No 1 (2018): Management Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v7i1.17895
<![CDATA[Penelitian ini bertujuan untuk menganalisis pengaruh pemecahan saham (stock split) terhadap abnormal return dan trading volume activity saham dengan memperhatikan pertumbuhan dan ukuran perusahaan. Jumlah sampel yang digunakan adalah 44 perusahaan yang listing di BEI pada periode 2010 â 2016. Selanjutnya sampel di kelompokkan berdasarkan pertumbuhan dan ukuran perusahaan. 34 perusahaan merupakan perusahaan bertumbuh dan 10 perusahaan tidak bertumbuh serta 22 perusahaan besar dan 22 perusahaan kecil. Sampel yang digunakan dalam penelitian ini dipilih menggunakan metode purposive sampling. Data yang digunakan dalam penelitian ini merupakan data sekunder dengan metode dokumentasi. Teknik analisis data menggunakan program SPSS21 dan Eviews8, dengan alat uji Paired Sample T-test dan Wilcoxon Signed Rank Test. Periode pengamatan selama 10 hari yaitu 5 hari sebelum dan 5 hari sesudah pengumuman pemecahan saham. Hasil penelitian menunjukkan bahwa terdapat perbedaan yang signifikan abnormal return sebelum dan sesudah pemecahan saham pada perusahaan tidak bertumbuh. Selanjutnya, hasil penelitian menunjukkan bahwa terdapat perbedaan yang signifikan trading volume activity sebelum dan sesudah pemecahan saham pada perusahaan bertumbuh dan besar.]]>
<![CDATA[Winner Loser Anomaly in Indonesia ]]>
<![CDATA[Amelia, Rizki]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 7 No 2 (2018): Management Analysis Journal ]]>
Publisher : <![CDATA[Management Analysis Journal ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v7i2.22988
<![CDATA[This research examines the market overreaction on the mining companies listed in Indonesia Stock Exchange from 2013 to 2017. The population in this research are all of the mining companies that list in the Indonesia Stock Exchange. The sample are selected according to the criteria of purposive sampling method. Market overreaction are measured by the abnormal return and indicated with ACAR loser portfolio outperformed of ACAR winner portfolio. The result shows that the ACAR loser portfolio doesn’t outperform of ACAR winner portfolio. The significance value of one sample t-test more than 0,05. This research conclude that the overreaction phenomenon on the mining companies in Indonesia Stock Exchange was not found.]]>
<![CDATA[The Influence of Family Controlled, Family Leadership and Profitability to Dividend Policy ]]>
<![CDATA[Wijayanto, Andhi]]>;
<![CDATA[Rochana, Anis]]>
<![CDATA[ Management Analysis Journal Vol 7 No 3 (2018): Management Analysis Journal ]]>
Publisher : <![CDATA[Universitas Negeri Semarang ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v7i3.23958
<![CDATA[The aim of this study was to examine the effect of family controlled, family leadership and profitability towards dividend policy (study on familyfirmlisted on Indonesia Stock Exchange period 2012-2016). The population in this study was family company listed on Indonesia Stock Exchange period 2012-2016. The number of samples obtained based on purposive sampling technique as many as 20 companies. The Result of hypothesis test showed that family ownership had negative effect on dividend policy. Family member had negative effect on dividend policy. Family leadership had positive effect on dividend policy. Profitability had negative effect on dividend policy. So, it can be concluded that firms which were led by CEOs who came from family member often tend to distribute dividends.]]>
<![CDATA[Estimasi Volatilitas Saham dengan Metode Momentum (The Methods of Moments) dan Estimasi Kemungkinan Maksimum (Maximum Likelihood Estimation) ]]>
<![CDATA[Setiawan, Ari Pamungkas]]>;
<![CDATA[Wijayanto, Andhi]]>
<![CDATA[ Management Analysis Journal Vol 6 No 2 (2017): Management Analysis Journal ]]>
Publisher : <![CDATA[Universitas Negeri Semarang ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/maj.v6i2.18666
<![CDATA[Penelitian ini bertujuan untuk mengetahui adanya perbedaan hasil penghitungan model estimasi metode momentum dan metode kemungkinan maksimum dalam meramalkan volatilitas harga saham. Populasi penelitian ini adalah index harga saham yang terdapat di Bursa Efek Indonesia yang berjumlah 15 index. Teknik pengambilan sampel menggunakan judgment sampling dengan menggunakan Jakarta Islamic Index dengan sampel data yang ditentukan secara kumulatif diperoleh 125 pengamatan harian pada periode juni 2016 ? november 2016. Metode penelitian dengan melakukan uji beda Wilcoxon Signed Rank Test dan dengan membandingkan selisih hasil perhitungan dua model dengan volatilitas historis. Hasil dari penelitian ini terdapat perbedaan yang signifikan antara model estimasi metode momentum dan metode kemungkinan maksimum dalam meramalkan volatilitas harga saham. Simpulan dari penelitian ini adalah model estimasi metode momentum dapat memberikan estimasi yang lebih baik dibandingkan dengan model estimasi kemungkinan maksimum dalam meramalkan volatilitas harga saham di Jakarta Islamic Index pada periode juni 2016 ? november 2016.]]>
