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Journal : Management Analysis Journal

FENOMENA MARKET OVERREACTION DI BURSA EFEK INDONESIA Maharani, Santi; Witiastuti, Rini Setyo
Management Analysis Journal Vol 4 No 1 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i1.7209

Abstract

This research examines the market overreaction in Indonesia Stock Exchange from 2009 to 2013. The population in this research are all of the companies that list in Indonesia Stock Exchange. The sample are stocks which are belonging to active stocks, it is determined by purposive sampling method. Market overreaction are measured by abnormal return and indicated with ACAR loser portfolio outperformed of ACAR winner portfolio. The result on quarterly period, semester period, and year period showed that loser portfolio outperformed winner portfolio. Value of the statistic tasting with one sample t test more than 0,05. This research concluded that there are market overreaction in Indonesia Stock Exchange and it’s not happens constantly
PENGARUH KEPEMIMPINAN TRANSFORMASIONAL TERHADAP KETERIKATAN KERJA MELALUI KEADILAN ORGANISASIONAL SEBAGAI VARIABEL MEDIASI Raharjo, Dina Christina; Witiastuti, Rini` Setyo
Management Analysis Journal Vol 5 No 4 (2016): Managemant Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i4.11701

Abstract

This study is aimed to know the direct and indirect effect of the transformational leadership, distibutive justice, procedural justice, interactional justice towards nurses’ work engagement which is mediated by distributive justice, procedural justice, and interactional justice. The 117 nurses who worked in the hospitalization section Grade III in RSUD Tugurejo Semarang were the population of the study.The sample of this study was taken by using propotioned random sampling methodology. 91 nurses were taken as the sample of the study. The method of data collection is by questionares which was measured by likert scale. Data analysis using SPSS for Windows version 21. The result of theis study showed transformational leadership have positive effect on distributive justice, procedural justice, and interactional justice. Distributive justice and interactional justice have positive effect on work engagement. Transformational leadership and procedural justice have no effect on work engagement. Distributive justice, procedural justice, and interactional justice was able to mediate the relationship of the transformational leadership towards nurses’ work engagement in hospitalization section Grade III in RSUD Tugurejo Semarang.
ANALISIS FAKTOR YANG MEMPENGARUHI TINGKAT LITERASI KEUANGAN DI KALANGAN UMKM KOTA TEGAL Amaliyah, Riski; Witiastuti, Rini Setyo
Management Analysis Journal Vol 4 No 3 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i3.8876

Abstract

Based on preliminary research literacy level of SMEs owners in the Tegal city is still relatively low. Factors that affecting the level of literacy consists of gender, education level and income level. This research is a survey research. The results showed the level of literacy in the Tegal city SMEs owners are in the high category with an average of 11.79. Gender and education level factors affect the level of financial literacy owners of SMEs. Men SMEs owners  and above the level of compulsory education have higher literacy level compared to women and under compulsory education. The income factor does not affect the level of financial literacy owners of SMEs. The owners of SMEs are suggested increase their knowledge aboout finance and governement can give education about finance.
Determinan Beta Saham Perusahaan Real Estate dan Property di Bei Jazuli, A Muhamad; Witiastuti, Rini Setyo
Management Analysis Journal Vol 5 No 1 (2016): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i1.5779

Abstract

This research aim to determine the effect of debt to equity ratio, current ratio, asset growth and return on equity on beta. Population in this research are all real estate and property companies listed in Indonesian Stock Exchange in 2012-2013 as many as 50 companies. The method used is purposive sampling , with 34 companies are selected with 50 samples on annual report are observed. Analysis technique that used here is multiple regression analysis using IBM SPSS Statistics 21. The result shows that debt to equity ratio has a negative non-significant effect, current ratio and return on equity has a positive significant and asset growth has a negative significant on beta. Suggestion for next research are add another fumdamental factors and add company categories.
Pengujian Abnormal Return Saham Sebelum dan Sesudah Peluncuran Indeks MNC36 (Studi Kasus Perusahaan yang Terdaftar pada Lampiran Surat Pengumuman Indeks MNC36 No.Peng-00529/BEI.PSH/08-2013) Barokah, Siti; Witiastuti, Rini Setyo
Management Analysis Journal Vol 5 No 2 (2016): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i2.8113

Abstract

The purpose of this research is to explain the reaction showed by the difference of abnormal return before and after MNC36 announcement. This study using event study, by observation of the abnormal return during the event period, ie 15 days before to 15 days after the MNC36 announcements. This research used the event study, which was conducted observation of abnormal return during the event period, i.e. before 15 days up to 15 days after the MNC36 announcements. The population in this research are all companies share listed on the MNC36 in 2013. The sampling technique was conducted with a purposive sampling method and obtained a sample of 33. The data analyzes were used One Sample Kolmogorov-Smirnov test for data normality test, and hypothesis testing used One Sample T-test and Paired Samples T-Test for data which are  normally distributed. The result of One Sample T-test and Paired Sample T-test showed that there is no abnormal return in the period before and after the launch of the index MNC36. The suggestions for futher researchers can use other variables to describe reactions in the MNC36 announcement such as return and trading volume activity so it can be known the difference for comparative result.
Analisis Economic Value Added dan Market Value Added sebagai Alat Pengukur Kinerja Perusahaan serta Pengaruhnya terhadap Harga Saham Andika, Wifaqul Luthfa; Witiastuti, Rini Setyo
Management Analysis Journal Vol 6 No 3 (2017): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v6i3.12326

Abstract

Posisi dan kinerja perusahaan sangat penting artinya bagi perusahaan untuk mengetahui kekuatan dan kelemahan perusahaan. Laporan keuangan perusahaan merupakan salah satu sumber informasi yang penting disamping informasi lain seperti informasi industri, kondisi perekonomian, pangsa pasar perusahaan, kualitas manajemen dan lainnnya. Populasi dalam penelitian ini yaitu seluruh perusahaan makanan dan minuman yang terdaftar di BEI  2012-2015. Sampel pada penelitian ini diambil dengan teknik purposive sampling. Jumlah sampel yang digunakan dalam penelitian ini yaitu sebanyak 13 perusahaan makanan dan minuman. Pengaruh Economic Value Added (EVA) dan Market Value Added (MVA) terhadap harga saham melalui pengujian statistik uji F (ANOVA) menunjukkan bahwa Economic Value Added (EVA) dengan Market Value Added (MVA) secara bersama-sama tidak berpengaruh terhadap harga saham.
Non Interest Income and Indonesian Bank Return Setyaningrum, Devi; Witiastuti, Rini Setyo
Management Analysis Journal Vol 6 No 4 (2017): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Penelitian ini bertujuan untuk mengetahui bagaimana pengaruh aktivitas off-balance sheet (OBS) yang dicerminkan oleh share of non-interest income (snonin) terhadap profitabilitas Bank Umum yang terdaftar di BEI tahun 2010-2016. Penelitian ini menggunakan loan loss provision (LLP) sebagai variable kontrol. Variable yang digunakan untuk mewakili profitabilitas adalah ROA. Data yang digunakan dalam penelitian ini diperoleh dari laporan tahunan bank yang dipublikasikan oleh Otoritas Jasa Keuangan dengan sampel 30 Bank Umum yang terdaftar di BEI. Penelitian ini menggunakan metode regresi linier berganda pada data panel dengan pendekatan Fixed Effect Model dan Generalized Least Square. Hasil regresi menunjukkan bahwa snonin berpengaruh negatif tidak signifikan terhadap ROA, sedangkan LLP berpengaruh negatif signifikan terhadap ROA.
Pull Factor and Push Factor Influences on the Volatility of Foreign Investment Flows in Indonesian Capital Market Chakimatuzzahroh, Chakimatuzzahroh; Witiastuti, Rini Setyo
Management Analysis Journal Vol 7 No 2 (2018): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i2.23854

Abstract

The purpose of this study is to determine the factors that affect the flow of foreign investment into the Indonesian Stock Market that includes the factors of return, risk, and inflation derived from foreign markets/ global (push factor) and from the domestic market (pull factor). Testing is done by using analysis model Autoregressive  Conditional Heteroscedasticity  (ARCH) and Generalized  Autoregressive  Conditional  Heteroscedasticity (GARCH). Testing is done with six estimation models among them ARCH, GARCH, ARCH-M (2,1), ARCH-M (2,2), Treshold Autoregressive Conditional Heteroscedasticity (TARCH), dan Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH). Using the significance of estimation parameters, goodness of fit model, Akaike’s Information Criterion test, Schwarz Information test, and ARCH effect test, found the best model is ARCH-M (2,1) estimation model. The results of testing with ARCH-M (2,1) model showed that the return and domestic risk (pull factor) significantly have a relation with the flow of foreign investment in Indonesia Stock Exchange, while return , risk, global inflation (push factor), and domestic inflation have no significant effect.
A Clustering Method Approach for Portfolio Optimization Fadilah, Iwan; Witiastuti, Rini Setyo
Management Analysis Journal Vol 7 No 4 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i4.23378

Abstract

This study aims to test the formation of the optimum portfolio using the cluster method. The data used are of financial statements and stock prices of the companies listed on the LQ-45. index The results of this research show that the cluster method can be used to form the optimal portfolio. This is because using the cluster method; the research samples were divided into three clusters that are united to the same characteristics of each company. Further research can be added the research indicators and research sample used in order that the results obtained are more varied.
Underpricing, Institutional Ownership and Liquidity Stock of IPO Companies in Indonesia Achmad, Immam Nur; Witiastuti, Rini Setyo
Management Analysis Journal Vol 7 No 3 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i3.23672

Abstract

The aim of this study is to explain and describe influence  of underpricing and institutional ownership on the liquidity. Sample of this study is 86 companies which conduct IPO in period 2012-2016. Analitycal technique used is multiple linear analysis. The data used in the form of trading data for 20 days then taken on average and comes form the company’a financial statements obtained from the Indonesia Stock Exchange. The results showed that Underpricing has a significant positive effect on liquidity. Institutional ownership is negatively insignificant to liquidity.