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Determinants of Systematic Risk of State-Owned Enterprises in the Construction Sector Listed on the Indonesia Stock Exchange Irni Yunita; Bayu Aji Prasetyo; Fajra Octrina
Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences Vol 5, No 1 (2022): Budapest International Research and Critics Institute February
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i1.4213

Abstract

The business activities run by the State-Owned Enterprises (BUMN) in Indonesia significantly affect the development of the business world and society. The construction sector industry is one of the SOEs that has an influence in the growth process in Indonesia. This research is a study of financial ratios consisting of liquidity ratios, activity ratios, solvency ratios and profitability ratios as factors that influence systematic risk in stocks. This study will determine which factors or variables from financial ratios have the most dominant influence on systematic risk. The sampling technique used is purposive sampling with the criteria (1) Construction Sector BUMN Companies listed on the Indonesia Stock Exchange which have Persero and Tbk status (2) Construction sector BUMN companies that have complete financial reports and have complete data needed in the study. during the period 2016 to 2019 on the Indonesia Stock Exchange. This study uses annual report data from sixty-two construction companies listed on the Indonesia Stock Exchange for the period 2016 to 2019. A total of sixty-two companies can be used as populations and four are used as research samples. The method used for this research is panel data. The results that are known from this study are Current Ratio (CR), Total Asset Turnover (TATO), Debt-to-equity Ratio (DER), Return n Equity (ROE) variables partially have no effect on the stock beta variable. The variables Current Ratio (CR), Total Asset Turnover (TATO), Debt-to-equity Ratio (DER), Return on Equity (ROE) simultaneously have no effect on the stock beta variable.
Effects of the Announcement of the Covid-19 Status Change on Stock Prices in the LQ45 Index of the Indonesia Stock Exchange in the Period of February - August 2020 Irni Yunita; Muhammad Farid Pratama; Roderta Cahya Diputra; Graciano Andre Damiao Maia
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 2 (2022): Budapest International Research and Critics Institute May
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i2.5472

Abstract

This study aims to show the response of the stock price before and after the announcement of the Covid-19 status change from endemic to pandemic by WHO on March 12th, 2020. This research can be measured using abnormal returns and trading volume activity with the event study approach. The samples in this study are the shares of the LQ45 index issuers in the period of February 2020 - July 2020 selected using purposive sampling technique. In this study, the period used was 5 days before the announcement, 1 day at the time of the announcement, and 5 days after the announcement. The results of this study show that there was no significant difference on abnormal returns before and after the announcement of the Covid-19 status change towards the LQ45 stock index. Furthermore, there was no significant difference on trading volume activity before and after the announcement of the Covid-19 status change towards the LQ45 stock index.
Merger and Acquisition: Do They Really Creates A Synergy Effect? Gadis Arimbi Puspita; Irni Yunita
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 6, No 4 (2023): Budapest International Research and Critics Institute November, In Progress
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v6i4.7775

Abstract

As competition continues to intensify across various industry sectors, companies are compelled to formulate strategies to remain competitive. One commonly used strategy is expansion through Mergers and Acquisitions (M&A), which, in theory, should create synergy and added value for the company. This research aims to test the effects of post-merger synergy, specifically operational synergy tested using Sales Growth and Earnings Per Share (EPS), and financial synergy tested using Debt Equity Ratio (DER). The study examined 17 companies that underwent M&A during the years 2015-2019, with a testing period of 3 years before and after the events, divided into 12 quarters. The research results indicate no significant differences in the three variables. Meanwhile, the synergy level tests using Gain Score Analysis show that 58.82% of companies did not experience operational synergy, as tested using Sales Growth. Furthermore, 64.71% of companies did not experience operational synergy, as tested using Earnings Per Share (EPS). Additionally, 47.06% of companies did not experience financial synergy, as tested using Debt Equity Ratio (DER).
Performance Analysis of Stock Mutual Funds and Fixed Income Mutual Funds Before and During the Covid-19 Pandemic Yunita, Irni; Rinaldi, Muhammad Adrian Daffa Nadino
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 4 (2022): Budapest International Research and Critics Institute November
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i4.7098

Abstract

This study aims to determine the performance of Equity Mutual Funds and Fixed Income Mutual Funds before and during the Covid-19 pandemic, in the period 2018-2020. Using the method of measuring the performance of mutual funds, namely Sharpe, Treynor and Jensen. Then the results of the calculations of the three methods were tested using a non-parametric test, namely the Wilcoxon test using SPPS Software (Statistical Package for the Social Sciences) to find out whether there were differences between stock mutual funds and fixed income mutual funds before and during the covid-19 pandemic. The results obtained from a sample of 54 conventional stock mutual funds and 27 conventional fixed income mutual funds. The results obtained from a sample of 54 conventional stock mutual funds and 27 conventional fixed income mutual funds. Only conventional stock mutual funds with the Jensen method obtained optimal values before and during the Covid-19 pandemic. Then only conventional stock mutual funds with the result value of the Jensen method have different performance from before and during the Covid-19 pandemic. For conventional income mutual funds, there is no difference in performance from before and during the Covid-19 pandemic.
Co-Authors Abdul Mukti Soma Adelia Nandira Maharani Adi Katon Pamungkas Adithya Yudha Agita Putra Pramana Agus Afrianingsih, Dwi Aisha Nur Izzati Aisha Nur Izzati Aldilla Iradianty Almira Iffa Fauzia Andini Pujasari Anggara Ramadhan Anggita Prameswari Anisah Firli Aprianto, Fadly Ayu Nur Rahmadhani Azizah, Reza Noor Bayu Aji Prasetyo Bella Salsabilla Damiao Maia, Graciano Andre Darussalam Darussalam Della Ferranti Della Ferranti, Della Dematria Pringgabayu Destyana, Devica Puteri Diva Rifayani Dwi Kurniawan, Dwi Dyah Ajeng Mulatsih Erie Febrian Fachrizal, Fiqhi Fadly Aprianto Fajar Sidiq Adi Prabowo Fajra Octrina Fiqhi Fachrizal Firmansyah, Fandi Firrisa Tsamara Munica Fitri Amanda Zuchrinata Gadis Arimbi Puspita Graciano Andre Damiao Maia Gushendri, Adzra Helga Engrasia Gustyana, Tieka Tri Kartika Hamudin, Piko Ihsan, TB Aria Maulana Irani, Annisa Salsabila Dwitha Jamhari Jamhari Kevin Krisna Khoirunnisa Az-Zahra Kishi Alandra Maghfirah Izani Desta Maria Apsari Sugiat Marwa Dewi Ahdiyati Salim Mauli Permata Sari Meuthia Rahmawati Milleniasari, Poeti Annisa Muhammad Farhan Muhammad Farid Pratama Muhammad Iqbal Alamsyah Naurah Salsabila Naurah Salsabila Ramadhana Novemrian, Yandi Novita Bukit, Dian Nuraulia, Naifah Nurhakim, Eko Sanjaya Nurwijayanti Piamalia, Novita Nur Priyambodo, Muhammad Ganang Puspita*, Gadis Arimbi Putri, Devina Dianra Putri, Salsabila Fadila Rahmawati, Meuthia Ratna Lindawati Lubis Ray Burton Reza Noor Azizah Ria Ratna Ariawati Rina Indiastuti Rinaldi, Muhammad Adrian Daffa Nadino Rinaldo Silaban, Jeffry Frans Risanti, Sherly Nur Aulia Roderta Cahya Diputra Safitri Puji Lestari Sagung Desy Pratami, A.A Salma Salimah Sugiat, Maria Tiara Putri Nadiwa Trihandayani*, Deri Vanessa Eleanor Saaba Yudha, Adithya Yusoff, Yusliza Mohd