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All Journal El Dinar PROFIT : Jurnal Administrasi Bisnis Journal of Public Administration Studies Journal of Islamic Accounting and Finance Research Al-Bahtsu: Jurnal Penelitian dan Pendidikan Islam
Suhadak Suhadak
Faculty of Administrative Science, University of Brawijaya.
Religion Arts Humanities Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences Other

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THE DETERMINANTS OF FIRM’S CAPITAL STRUCTURE: EVIDENCE OF SHARIAH AND NON-SHARIAH STOCK COMPANIES IN INDONESIA Nikmah, Choirul; Suhadak, Suhadak; Kertahadi, Kertahadi; Yeh, Hsien- Hung
El Dinar: Jurnal Keuangan dan Perbankan Syariah Vol 3, No 2 (2015): El Dinar
Publisher : Faculty of Economics Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/ed.v3i2.2948

Abstract

AbstractThis research investigates the determinants of capital structure for firms in Indonesia from the perspective of Shariah and non-Shariah stocks. The research was conducted using 222 non financial companies that listing in Indonesia Stock Exchange (IDX) during the period of 2007 to 2012. This study tested using multiple linier regressions with panel data.The results show that firm-specific factors such as profitability and tangibility have significant negative influence on capital structure. There is no direct industry effect on capital structure but the interaction between industry type and Shariah and non-Shariah stocks do affect the determination of capital structure. In addition, the interaction between firm-specific factors and Shariah and non-Shariah stocks affects capital structure of firms in Indonesia.
ACCOUNTING TREATMENT ANALYSIS OF RAHN TASJILY FINANCING Suhadak, Suhadak
Journal of Islamic Accounting and Finance Research Vol 1, No 1 (2019)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (222.417 KB) | DOI: 10.21580/jiafr.2019.1.1.3732

Abstract

Purpose - The purpose of this study was to describe the accounting treatment of rahn tasjily financing transactions carried out by BMT UGT Sidogiri Malang with PSAK 107 and the suitability of the transaction application with Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.Method - This study used descriptive qualitative method.Result - The research shows that the recognition and measurement of Ijarah transactions are in accordance with PSAK 107, but the presentation and disclosure are not appropriate. Recognition, measurement, and presentation of rahn tasjily financing transactions are in accordance with PAPSI, but the disclosure is not yet appropriate, and accordance with the application of Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.Implication - This study has an impact on the compliance of the institution in carrying out rahn tasjily financing of PSAK and Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.Originality - The focus of this study is the application of the determination and accounting treatment of Ijarah costs in rahn gold according to PSAK 107 and Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.
Accounting treatment analysis of rahn tasjily financing Suhadak, Suhadak
Journal of Islamic Accounting and Finance Research Vol 1, No 1 (2019)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2019.1.1.3732

Abstract

Purpose - The purpose of this study was to describe the accounting treatment of rahn tasjily financing transactions carried out by BMT UGT Sidogiri Malang with PSAK 107 and the suitability of the transaction application with Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.Method - This study used descriptive qualitative method.Result - The research shows that the recognition and measurement of Ijarah transactions are in accordance with PSAK 107, but the presentation and disclosure are not appropriate. Recognition, measurement, and presentation of rahn tasjily financing transactions are in accordance with PAPSI, but the disclosure is not yet appropriate, and accordance with the application of Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.Implication - This study has an impact on the compliance of the institution in carrying out rahn tasjily financing of PSAK and Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.Originality - The focus of this study is the application of the determination and accounting treatment of Ijarah costs in rahn gold according to PSAK 107 and Fatwa DSN MUI DSN No.68/DSN-MUI/III/2008.
The Effect of Company Characteristics and Cooperate Social Responsibility on Company Financial Performance ZA, Zahroh; Suhadak, Suhadak; Saifi, Muhammad; Firdausi, Nila
JPAS (Journal of Public Administration Studies) Vol 5, No 1 (2020)
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (397.876 KB) | DOI: 10.21776/ub.jpas.2020.005.01.4

Abstract

Increased intense global competition has made CSR as a topic that must be considered by business people, especially for companies that carry out activities related to natural resources. The rationality for this statement is that CSR has become one of the company's responsibilities to stakeholders, and company characteristics are an inherent risk inherent in the company. All of this is related to the company's financial performance. Various previous studies have been conducted to discuss the effect of company characteristics and CSR on company financial performance, but give different results. The purpose of this study was to obtain empirical evidence of the influence of company characteristics and CSR on the financial performance of companies listed on the Indonesia Stock Exchange (BEI) in 2012-2016. The study population was natural resource companies listed on the BEI 2012-2016 of 43 companies, with through specific criteria obtained a sample of 32 companies. The results showed that company characteristics significantly influence the company's financial performance as well as CSR significantly influence the company's financial performance.
The Effect of Ownership Structure and Leverage Towards Dividend Policy and Corporate Values Endang, MG Wi; Suhadak, Suhadak; Saifi, Mohammad; Firdausi, Nila
JPAS (Journal of Public Administration Studies) Vol 5, No 1 (2020)
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (511.178 KB) | DOI: 10.21776/ub.jpas.2020.005.01.1

Abstract

Every company (particularly the company's shareholders) always expects to have high company value. Various mechanisms are used by company managers to create corporate value. The mechanism can be through the structure of ownership, leverage, and dividend policy. Previous studies that have discussed the effect of ownership structure and leverage variables on dividend policy and corporate value provide different research results. This study aims to obtain empirical evidence of the effect of ownership structure and leverage on dividend policy and firm value, on manufacturing companies listed on the Indonesia Stock Exchange in the 2012-2016 period. The population of this study is all manufacturing companies listed on the Indonesia Stock Exchange that provide periodic financial statements from 2012 to 2016 (145 companies). The population that met the criteria to sampled was 28 companies. The research method used in this research is Warp-PLS. The results showed as follows: (1) The effect of ownership structure on dividend policy was negative and not significant; (2) The effect of ownership structure on firm value was negative and significant; (3) The leverage on dividend policy was negative and significant; (4) The leverage on the company value was negative and weak significant correlation; (5) The effect of the dividend policy on corporate value was negative and weak significant correlation.
PENGARUH ASPEK FUNDAMENTAL DAN RISIKO BISNIS TERHADAP FINANCIAL LEVERAGE (Studi pada Perusahaan Manufaktur Sektor Aneka Industri di BEI Periode Tahun 2007 – 2011) Sultera, Fatimah Karunia; Suhadak, Suhadak; Darminto, Darminto
Profit: Jurnal Adminsitrasi Bisnis Vol. 6 No. 2 (2012): Profit : Jurnal Administrasi Bisnis
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (175.131 KB)

Abstract

Tujuan penelitian yaitu menganalisis dan menjelaskan pengaruh negatif ukuran perusahaan, struktur aktiva, return on assets (ROA), current ratio (CR) dan risiko bisnis terhadap debt to assets ratio (DAR) serta menganalisis dan menjelaskan variabel yang pengaruhnya paling dominan terhadap debt to assets ratio (DAR) diantara variabel ukuran perusahaan, struktur aset, return on assets (ROA), current ratio (CR) dan risiko bisnis. Populasi penelitian yang digunakan seluruh perusahaan manufaktur yang bergerak di sektor aneka industri dan terdaftar di Bursa Efek Indonesia (BEI) selama tahun 2007-2011 dengan total sampel berjumlah 20 perusahaan. Hasil analisis data pada uji F membuktikan bahwa secara simultan variabel independen (Ukuran Perusahaan (X1), Struktur Aktiva (X2), Current Ratio (X4), dan Risiko Bisnis (X5)) berpengaruh signifikan terhadap Debt to Assets Ratio (Y). Pengujian secara parsial (Uji t) membuktikan bahwa Struktur aktiva (X2), Current ratio (X4) dan Risiko bisnis (X5) secara parsial berpengaruh signifikan negatif terhadap variabel DAR (Y). Sedangkan, Ukuran perusahaan (X1) dan Return on assests (X3) secara parsial tidak berpengaruh signifikan terhadap variabel DAR (Y).Variabel bebas yang paling dominan pengaruhnya terhadap variabel terikat (debt to assets ratio / DAR) adalah Current ratio (X4).   Kata kunci : ukuran perusahaan, struktur aktiva, return on assets, current ratio, risiko bisnis and debt to assets ratio.
THE INFLUENCE OF MACROECONOMIC AND MICROECONOMIC VARIABLES ON CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE Nurlaily, Ferina; Suhadak, Suhadak; Rahardjo, Kusdi; Lydia Hsu, Wen-Hsi
Profit: Jurnal Adminsitrasi Bisnis Vol. 7 No. 1 (2013): Profit : Jurnal Administrasi Bisnis
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (177.911 KB)

Abstract

Penelitian ini meneliti tentang pengaruh variabel makroekonomi dan mikroekonomi terhadap struktur modal dan kinerja keuangan dari Perusahaan-Perusahaan Makanan dan Minuman selama periode 2004-2010. Dengan menggunakan metode Partial Least Square (PLS), hasil menunjukkan bahwa variabel makroekonomi dan mikroekonomi memiliki pengaruh negatif yang signifikan terhadap kinerja keuangan. Sedangkan struktur modal menunjukkan pengaruh positif yang signifikan terhadap kinerja keuangan. Hal ini mengindikasikan bahwa perusahaan yang menguntungkan lebih bergantung pada hutang sebagai alat pembiayaan mereka yang utama.Kata kunci: Struktur modal,Indonesia, Kinerja Keuangan, Perusahaan Makanan dan MinumanThis research investigated the influence of macroeconomic and microeconomic variabl eon capital structure and financial performance of Indonesia Food and Beverage Companies during period 2004-2010. Using Partial Least Square Method, the result showed that Macroeconomic and Microeconomic Variable has significant negative influence on Financial Performance. However, the influence of Capital Structure on Financial Performance showed significantly positive. This suggested that profitable firms depend more on debt as their main financing option. Keywords: Capital Structure, Indonesia, Financial Performance, Food and Beverages Companies
ANALISIS PENGARUH PROFITABILITAS (PROFITABILITY) DAN TINGKAT PERTUMBUHAN (GROWTH) TERHADAP STRUKTUR MODAL DAN NILAI PERUSAHAAN (Studi pada Perusahaan Real Estate and Property yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2007-2011) Kusuma, Ginanjar Indra; Suhadak, Suhadak; Arifin, Zainul
Profit: Jurnal Adminsitrasi Bisnis Vol. 7 No. 2 (2013): Profit : Jurnal Administrasi Bisnis
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (293.088 KB)

Abstract

Penelitian ini bertujuan untuk menganalisis dan menjelaskan: (1) pengaruh profitabilitas (profitability) terhadap struktur modal perusahaan, (2) pengaruh tingkat pertumbuhan (growth) terhadap struktur modal perusahaan, (3) pengaruh profitabilitas (profitability) terhadap nilai perusahaan, (4) pengaruh tingkat pertumbuhan (growth) terhadap nilai perusahaan, (5) pengaruh struktur modal terhadap nilai perusahaan. Populasi penelitian ini adalah perusahaan real estate and property yang terdaftar di Bursa Efek Indonesia (BEI) periode tahun 2007 sampai dengan tahun 2011 dengan total sampel sebanyak 25 perusahaan. Teknis analisis data dalam penelitian ini menggunakan analisis PLS (Partial Least Square). Hasil analisis data membuktikan bahwa: (1) variabel profitabilitas (profitability) berpengaruh tidak signifikan terhadap variabel struktur modal, (2) variabel tingkat pertumbuhan (growth) berpengaruh tidak signifikan terhadap variabel struktur modal, (3) variabel profitabilitas (profitability) berpengaruh signifikan terhadap variabel nilai perusahaan, (4) variabel tingkat pertumbuhan (growth) berpengaruh tidak signifikan terhadap variabel nilai perusahaan, (5) variabel struktur modal berpengaruh tidak signifikan terhadap variabel nilai perusahaan.  Kata kunci: profitabilitas (profitability), tingkat pertumbuhan (growth), struktur modal, dan nilai perusahaan.   ABSTRACT The objectives of this research are to analyze and explain: (1) the effect of profitability on company’s capital structure, (2) the effect of growth on company’s capital structure, (3) the effect of profitability on company’s value, (4) the effect of growth on company’s value, (5) the effect of capital structure on company’s value. The population of this research are real estate and property companies listed on Indonesia Stock Exchange in period 2007-20011 with total sample of 25 companies. The data are analyzed by using PLS (Partial Least Square) method. Analysis result explain that: (1) profitability has no significant affect on capital structure, (2) growth has no significant affect on capital structure, (3) profitability has significant affect on company’s value, (4) growth has no significant affect on company’s value, (5) capital structure has no significant affect on company’s value. Keywords: profitability, growth, capital structure, and company’s value.
ANALISIS FAKTOR MIKRO TERHADAP STRUKTUR MODAL DAN NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN NON-BANK YANG TERDAFTAR DI BURSA EFEK INDONESIA INDEKS LQ 45 PERIODE 2009-2011) Septiono, Rizqy Wahyu; Suhadak, Suhadak; Darminto, Darminto
Profit: Jurnal Adminsitrasi Bisnis Vol. 7 No. 1 (2013): Profit : Jurnal Administrasi Bisnis
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (148.334 KB)

Abstract

ABSTRAK Tujuan penelitian yaitu, (1) menganalisis dan menjelaskan pengaruh variabel ukuran perusahaan, profitabilitas dan likuiditas terhadap variabel struktur modal perusahaan, (2) untuk menganalisis dan menjelaskan pengaruh variabel ukuran perusahaan, profitabilitas dan likuiditas terhadap variabel nilai perusahaan, (3) untuk menganalisis dan menjelaskan pengaruh variabel struktur modal terhadap variabel nilai perusahaan. Populasi penelitian yang digunakan meliputi perusahaan non-bank yang terdaftar di Bursa Efek Indonesia Indeks LQ 45 selama tahun 2009 hingga tahun 2011 dengan total sampel berjumlah 14 perusahaan. Data yang diperoleh dianalisis dengan menggunakan Partial Least Square (PLS). Hasil analisis data membuktikan bahwa (1) variabel ukuran perusahaan, profitabilitas, dan likuiditas berpengaruh secara signifikan terhadap variabel struktur modal, (2) variabel ukuran perusahaan, profitabilitas berpengaruh secara signifikan terhadap variabel nilai perusahaan, sedangkan variabel likuiditas diperoleh hasil yang tidak signifikan pengaruhnya terhadap variabel nilai perusahaan, (3) variabel struktur modal berpengaruh secara signifikan terhadap variabel nilai perusahaan.   Kata kunci: faktor mikro perusahaan, ukuran perusahaan, profitabilitas, likuiditas, struktur modal dan nilai perusahaan.   ABSTRACT The objectives of this research are (1) to analyze and explain the effect of following variables on company’s capital structure: company size, profitability, and liquidity (2) to analyze and explain the effect of following variables on company’s value: company size, profitability, and liquidity (3) to analyze and explain the effect of company’s capital structure on company’s value. The population used on this research including non-bank companies listed on Indonesian Stock Exchange Index LQ 45 in the period 2009-2011 with total sample of 14 companies. The data are analyzed by using Partial Least Square (PLS) method. Analysis result proves that (1) company size, profitability, and liquidity significantly affect company’s capital structure, (2) company size, profitability significantly affect company’s value, while liquidity variable does not bring any significant effect (3) capital structure significantly affect a company’s value. Keywords: micro factors of company, company size, profitability, liquidity, capital structure, and company’s value.
PENGARUH VARIABEL MAKRO EKONOMI TERHADAP INDEKS HARGA SAHAM GABUNGAN DAN RETURN NAB REKSA DANA SAHAM (STUDI PADA REKSA DANA SAHAM YANG TERDAFTAR DI BAPEPAM PERIODE 2008- 2012) Trivena, Shinta Maharani; Suhadak, Suhadak; Darminto, Darminto
Profit: Jurnal Adminsitrasi Bisnis Vol. 7 No. 2 (2013): Profit : Jurnal Administrasi Bisnis
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (9.869 KB)

Abstract

Penelitian ini adalah eksplanatory research. Pengambilan sampel dengan metode purposive sampling. Terdapat 20 produk Reksa Dana Saham dalam penelitian ini. Metode analisis data menggunakan analisis jalur (Path Analysis). Hasil analisis data menunjukkan bahwa (1) variabel tingkat inflasi adalah tidak signifikan pengaruhnya terhadap Indeks Harga Saham Gabungan, (2) variabel nilai tukar adalah signifikan pengaruhnya terhadap Indeks Harga Saham Gabungan, (3) variabel tingkat suku bunga SBI adalah signifikan pengaruhnya terhadap Indeks Harga Saham Gabungan, (4) variabel harga minyak dunia tidak signifikan pengaruhnya terhadap Indeks Harga Saham Gabungan, (5) variabel harga emas dunia tidak signifikan pengaruhnya terhadap IHSG, (6) variabel tingkat inflasi tidak signifikan pengaruhnya terhadap return NAB Reksa Dana Saham, (7) variabel nilai tukar adalah tidak signifikan pengaruhnya terhadap return NAB Reksa Dana Saham, (8) variabel tingkat suku bunga SBI tidak signifikan pengaruhnya terhadap return NAB Reksa Dana Saham, (9) variabel harga minyak dunia signifikan pengaruhnya terhadap return NAB Reksa Dana Saham, (10) variabel harga emas dunia tidak signifikan pengaruhnya terhadap return NAB Reksa Dana Saham (11) variabel Indeks Harga Saham Gabungan signifikan pengaruhnya terhadap return NAB Reksa Dana Saham.   Kata kunci: Variabel Makro Ekonomi, tingkat inflasi, nilai tukar, tingkat suku bunga SBI, harga minyak dunia, harga emas dunia, Indeks Harga Saham Gabungan, return NAB Reksa Dana Saham.   This study is explanatory research. Sampling was taken by purposive sampling method, There are 20 product of Equity Fund in this study.The data analized by using path methods. Analysis result proves that (1) inflation rate does not bring any significant effect on Indonesia Composite Index, (2) exchange rate significantly effect on Indonesia Composite Index, (3) interest rate of SBI significantly effect on Indonesia Composite Index, (4) world oil price does not significantly effect on Indonesia Composite Index, (5) price of gold does not bring any significant effect on Indonesia Composite Index, (6) inflation rate does not bring any significant effect on return of NAV Equity Fund, (7) exchange rate does not bring any significant effect on returns of NAV Equity Fund, (8) interest rate of SBI does not bring any significant effect on return of NAV Equity Fund, (9) world oil price significantly effect on return of NAV Equity Fund, (10) gold price does not bring any significant effect on return of Equity Fund, (11) Indonesia Composite Index significantly effect on return of NAV Equity Fund. Keywords:  Macroeconomic variables, inflation rate, exchange rate, interest rate of SBI, world oil prices, gold prices, Indonesia Composite Index, return of NAV Equity Funds.
Co-Authors A. Tulong, Gerard Agung Suwandaru Agus Mariono Arie Ika Stiowati Choirul Nikmah Darminto . Dwi Pratiwi Nurjanah Dzulkirom. AR, Moch. Endang, MG Wi Erindah Dimisyqiyani Fatimah Karunia Sultera Ferina Nurlaily Ginanjar Indra Kusuma Harril Brimantyo Hsien- Hung Yeh, Hsien- Hung Irna Wijayanti Jaka Nugraha Kertahadi Kertahadi Khoiro, Evada El Ummah Kusdi Rahardjo Lalitya Nindya Parahita Nareswari Lintang Edityastono Mayangsari, Fitria Muhammad Saifi Nila Firdausi Nuzula Nila Firdausi, Nila Raras Puspa Dewi Rern Jay Hung Rizqy Wahyu Septiono Saifi, Mohammad Shinta Maharani Trivena Siti Ragil Handayani Srikandi Kumadji Tsabita Karima Wen-Hsi Lydia Hsu ZAHROH ZA, ZAHROH Zainul Arifin