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All Journal Jurnal Keuangan dan Perbankan DeReMa (Development Research of Management) Jurnal Manajemen Binus Business Review JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi) Owner : Riset dan Jurnal Akuntansi Jurnal ULTIMA Accounting EKUITAS (Jurnal Ekonomi dan Keuangan) Journal of Business and Applied Management Jurnal Akuntansi Enrichment : Journal of Management Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences Journal of Sustainable Community Development (JSCD) The South East Asian Journal of Management Proceeding National Conference Business, Management, and Accounting (NCBMA) Proceeding of International Conference on Entrepreneurship (IConEnt)
Sung Suk Kim
Department Of Management, Business School, Universitas Pelita Harapan Jl. M.H. Thamrin Boulevard 1100, Tangerang, 15811
Religion Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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The Influence of Government Information and Response Related to COVID-19 in Indonesia Stock Market Agus Diemas Prayoga; sung suk kim
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8173

Abstract

COVID-19 is a global health pandemic that is currently sweeping the world and had huge impact on the world economy. Currently, all countries, including Indonesia, are paying attention to how the development of this pandemic is, as evidenced by the many media that inform the development of the pandemic and the response given by the government in overcoming it. This study was conducted with the aim of investigating how the influence provided by government information and policies related to COVID-19 on returns and stock volatility in Indonesia. Empirical findings from this study show that information on the COVID-19 pandemic (GSVI Covid), the number of positive cases, death rates, and the government tightening index during the pandemic, seem to have a negative effect on stock returns and vice versa have a positive effect on volatility. Meanwhile, with the information on the COVID-19 vaccine (GSVI Vaksin), fiscal policy in the form of growth in government spending, as well as monetary policy in the form of growth in the money supply is said to have a positive influence on stock returns, as well as reduce excessive volatility in the market.
Herding Behavior Saat Pandemi COVID-19 Di Pasar Saham Indonesia Carissa Carissa; R. Rinda Rachmawati Brata; Sung Suk Kim
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 9 No 3 (2022): JMBI UNSRAT Volume 9 Nomor 3
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v9i3.39815

Abstract

Penelitian ini bertujuan untuk menganalisa herding behavior terhadap keputusan investasi pada Pasar saham di Indonesia, guna mengetahui seberapa besar perubahan perilaku finansial pada saat terjadinya pandemi COVID-19. Penelitian ini Menggunakan data saham IHSG pada periode 2019 - 2020. Bursa efek merupakan salah satu tempat bagi investor untuk memperoleh keuntugan melalui perdagangan saham. Saham lebih banyak dipilih investor dibandingkan instrumen keuangan lainnya karena hasil yang akan diperoleh lebih besar meskipun diikuti dengan risiko yang tinggi. Keserakahan merangsang investor untuk melakukan investasi yang semakin berisiko, maka investor cenderung melakukan transaksi mengabaikan analisis yang rasional, dan kecenderungan tersebut adalah Herding Behavior. Pandemi global COVID-19 telah menciptakan tantangan yang dramatis dan belum pernah terjadi sebelumnya bagi individu, ekonomi, pasar keuangan, lembaga keuangan, dan pemerintah. Penelitian ini menggunakan metode literature review dengan membandingkan beberapa temuan penelitian sebelumnya yang relevan dengan masalah pandemi COVID-19. Hasil penelitian menunjukkan bahwa ada perubahan perilaku keuangan (terdapat indikasi perilaku Herding) yang terjadi di pasar saham Indonesia dalam masa pandemi Covid-19.
Efek Dari Makro, Industri dan Karakter Spesifik Perusahaan Terhadap Non Performing Loan Di Indonesia Stanley Mulja; Sung Suk Kim
Owner : Riset dan Jurnal Akuntansi Vol. 7 No. 2 (2023): Research Artikel Volume 7 Issue 2: Periode April 2023
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v7i2.1337

Abstract

The role of the banking sector is very important for the country's economic system, so it is important for banking institutions to maintain their profitability and efficiency. Currently the banking sector is facing the threat of credit risk indicated by the NPL, where this risk can affect the financial well-being and the role of the banking system. This study aims to examine the effect of bank-specific variables, macroeconomic variables, and industry-specific variables on credit risk as indicated by the NPL level in the Indonesian banking sector. The sample used in this study was 46 banks which were companies listed on the Indonesia Stock Exchange (IDX) during the period 2000 to 2020. The results showed that only bank-specific variables, namely bank capitalization, bank performance, loan growth, and bank diversification, were affect the level of NPL banking sector in Indonesia. Meanwhile other bank specific variables, namely bank size, bank inefficiency, ownership concentration, as well as macroeconomic variables (GDP growth, inflation, public debt, unemployment) and industry specific variables (interbank concentration) do not affect the level of credit risk as indicated by the NPL level of the banking sector in Indonesia.
Pengaruh Penerapan ESG Terhadap Nilai Perusahaan di Indonesia Jeanice Jeanice; Sung Suk Kim
Owner : Riset dan Jurnal Akuntansi Vol. 7 No. 2 (2023): Research Artikel Volume 7 Issue 2: Periode April 2023
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v7i2.1338

Abstract

The development of the application of environmental, social, and governance aspects for companies continues to increase. This can be seen by the growing sustainability investment from many companies that pay attention to good environmental, social, and governance aspects. Companies in Indonesia that are listed on Indonesian stock exchange and implement environmental, social, and governance continue to experience an increase in massive exploitation of resources for large financial gains causing enormous environmental damage. This study aims to investigate the effect of environmental, social, and governance on firm value in Indonesia. Firm value will be measured using return on equity and price book value. Meanwhile, environmental, social, and governance will be measured using the environmental, social, and governance index value. A total of 45 companies on the Indonesian Stock Exchange for 3 years from 2018-2020 were used. The effect of environmental, social, and governance on company performance is measured using a panel model after correcting violations of its assumptions. The results showed that the environmental, social, and governance variable had a negative and significant effect on return on equity and had no effect on simplified Tobin's. Companies need to improve environmental, social, and governance performance due to the low environmental, social, and governance values during this research period. Improved environmental, social, and governance performance is expected to improve other aspects including company performance
Pengaruh Kepemilikan Investor Institusi Asing Terhadap Volatilitas Harga Saham di Indeks Kompas100 Muhamad Farhan; Sung Suk Kim
Owner : Riset dan Jurnal Akuntansi Vol. 7 No. 2 (2023): Research Artikel Volume 7 Issue 2: Periode April 2023
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v7i2.1403

Abstract

This journal investigates the effect of foreign institutional investor ownership on share price volatility with a sample of 207 companies between 2008 and 2021 that are included in the Kompas100 Index. The empirical results of this study indicate that foreign institutional investor ownership reduces share price volatility in Indonesia with control variables: market capitalization, turnover, leverage, and market to book. In addition, we also document the results of research that the greater the market capitalization of a company, the lower the volatility of its share price and foreign investors increase stock trading turnover in Indonesia because it attracts the attention of domestic investors, especially individual investors. Foreign institutional investors also prefer to invest in companies with a market to book rating that have a premium.
THE IMPACT OF AGES CHANGING FIRM CHARACTERISTICS TOWARD STOCK RETURN IN INDONESIA Edwin Wijaya; Sung Suk Kim
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 10 No 1 (2023): JMBI UNSRAT Volume 10 Nomor 1
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v10i1.44095

Abstract

This research was conducted to analyze whether the changes of the firm specific characteristics by aging have different effects on the stock performance in Indonesia. The firm specific characteristics we investigate are size, liquidity, momentum, systematic risk, market to book ratio, momentum, and profitability, and volatility. We use all the firms except financial industry from 2015 to 2019 in Indonesia Stock Market (IDX). The firm aging are divided into three groups, young, medium, and mature. Panel regression approach is applied to find the effects of the main variables. The results reveal that corporate aging does change the effects of the firm's characteristics on stock returns in Indonesia.
IMPACT OF FINANCIAL DISTRESS AND FINANCING CONSTRAINTS ON TRADE CREDIT Tri Mulyana; Sung Suk Kim
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 10 No 1 (2023): JMBI UNSRAT Volume 10 Nomor 1
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v10i1.44355

Abstract

Purpose this study to examine the effect of (1) Financial Distress and (2) Financial Constraints on trade credit in companies listed on the Indonesia Stock Exchange (IDX). The Sampel in this study are all companies listed on the Indonesia Stock Exchange, except the banking and financing industries from 2020 to 2011. This study used the regression Fixed Effect Model to analyze secondary data from S&P Capital IQ. The study results show that (1) Financial Distress and Financial Constraint have a negative effect on Accounts Payable, (2) Financial Distress and Financial Constraint have a positive effect on Accounts Receivable.
EFFECTS OF BRAND VALUE ON STOCK RETURN IN INDONESIA Andre Suryadinata; Sung Suk Kim
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 10 No 2 (2023): JMBI UNSRAT Volume 10 Nomor 2
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v10i2.44462

Abstract

Abstract. We study the relationship between brand value and stock return in Indonesian market, using brand value published in annual reports by Brand Finance between 2014-2020. Using the capital asset pricing model (CAPM) and Fama-French plus momentum factor, we find that brand value does not have positive effects on stock returns. Portfolio of stocks with higher brand value does not yield higher return and lower risk compared to benchmark portfolio. Further analysis also shows that brand values published by Brand Finance are not fully reflected in Indonesian market.   Abstrak. Kami mempelajari hubungan antara nilai merek dan pengembalian saham di pasar Indonesia, dengan menggunakan nilai merek yang diterbitkan dalam laporan tahunan oleh Brand Finance antara 2014-2020. Dengan menggunakan model penetapan harga aset modal (CAPM) dan faktor Fama-French plus momentum, kami menemukan bahwa nilai merek tidak berpengaruh positif terhadap return saham. Portofolio saham dengan brand value yang lebih tinggi tidak menghasilkan return yang lebih tinggi dan risiko yang lebih rendah dibandingkan portofolio benchmark. Analisis lebih lanjut juga menunjukkan bahwa brand value yang diterbitkan oleh Brand Finance tidak sepenuhnya tercermin di pasar Indonesia
EFFECTS OF ESG BEFORE AND DURING COVID-19 TO INDONESIA FIRM PERFORMANCE Jeanice Jeanice; Sung Suk Kim
Proceeding National Conference Business, Management, and Accounting (NCBMA) 6th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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

Abstract

Today, seeing the progress of the world that continues to develop, the issues faced are also increasingly varied. According to data from the United Nations, the war between Russia and Ukraine has exacerbated the global cost of living crisis. Apart from this war, the Covid-19 pandemic also continues to be in the spotlight of global media around the world. These two things can be used as one of the reasons for the crisis that the world is currently facing. Companies with good ESG implementation will have keen knowledge of long-term strategic issues so that they can manage their long-term goals. For this reason, ESG performance is used as a benchmark for sustainable development in business decisions and in facing corporate crises. This research was conducted with the aim to find out how the effect of the application of ESG on company value and also in moderation during a crisis. This study uses a classic assumption test analysis with a sample of 71 companies in this study and the period 2008-2021 (14 years) with a total of 994 datas observed. The data used in this study were taken from the financial reports of companies listed on the IDX and the Bloomberg ESG Index for 2008-2021. The results showed that the ESG variable had a significant positive effect on ROE and PBV. Meanwhile, with moderation during the crisis, ESG has no significant effect on ROE and PBV.
Simultaneous Relationship Between Ownership Structure, Corporate Governance, and Firm Value in Indonesia Suk, Kim Sung
The South East Asian Journal of Management Vol. 2, No. 1
Publisher : UI Scholars Hub

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

Abstract

The primary objective of this study is to test the simultaneous relationship between the firm value, the corporate governance practice, and the ownership structure on a sample of 114 companies quoted in the Jakarta Stoke Exchange (JSX). The study finds that the corporate governance practice fails to affect the firm value, but the firm value is a positive predictor of corporate governance practice. Further, the influence of corporate governance practice on the firm value becomes less when the wedge of the firm becomes higher. The ownership structure and the firm value have no systematic relationship. Controlling shareholders and foreign blockholders that presumably are Indonesia blockholders (FBIB) do not extract private benefits for themselves or do not exproproate the wealth of the minority shareholders. But, the percentage of ownership by FBIB has negative influence on the corporate governance practice.
Co-Authors Agus Diemas Prayoga Andre Suryadinata Anthony Lukmawijaya Bang Jessica Santiyano Budhidharma, Valentino Carissa Carissa Clara Constantine Clara, Nathania Cynthia Wijayanti Darmia, Darmia Derry Irahadi Derry Rijken Irahadi Dewi, Shinta Kurnia Dimu, Darmia Edwin Hendra Edwin Hendra, Edwin Edwin Wijaya Eko Cristian felicia julianti Felicia Julianti Ferdinand, Ferry Vincenttius Freshtriana, Freshtriana Golrida Karyawati Grace Turangan Gracia S Ugut Herlina Lusmeida Irwan Adi Ekaputra Iyvon Herliawan Jasen, Lie Jeanice Jeanice Jonathan Gunalan Joseph, Widyatama Juli Hendri Juliana, Rita Juniarty Kasiha, Nathalia W N Kasiha, Nathalia Wanda Nova Katherine, Hartati Kie Van Ivanky Saputra Kurniawan Kurniawan Liza Handoko, Liza Maria Stevani Sianturi Maria Stevani Sianturi Melvien Deisie Christin Welang Metta Dewi Monica Shendiana Sugianto Muhamad Farhan Muljono, Danella Rachel Nugroho, Vina Parengkuan, Samuel Ray Aditya Purba, Golrida Karyawati R. Rinda Rachmawati Brata Rahmawanti, Tamara Sandra Sandra Sembel, Jacquelinda Sandra Sidharta, Kevin Stanley Mulja Stefanus Hugo Lusida Suryadinata, Andre Sylvia Samuel Tri Mulyana Turangan, Grace Vivi Liu Waluyo, Herlina Wennars, Lesely Willyandi Tairas Wirdy Leonarsan Yoga Rima Hadi