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Journal : Performance

ANALISIS PENILAIAN HARGA WAJAR SAHAM MENGGUNAKAN PENDEKATAN DIVIDEND DISCOUNT MODEL, PRICE EARNING RATIO DAN PRICE TO BOOK VALUE Ismunarti, Nurbani Aulia; Sunarko, Bambang; Tohir, Tohir
Performance Vol 23 No 2 (2016): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

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Abstract

The purpose of this research is to determine the intrinsic value of coal mining company stock listed in LQ45 Index during 2010-2014 period used Dividend Discount Model (DDM) Pertumbuhan Berganda, Price Earning Ratio (PER) and Price to Book Value (PBV) approach. Intrinsic value will compared with market stock value, henceforth be one of basic for taking investment decision in capial market. Difference of intrinsic stock value with market stock value is tasted by Paired Sample T-Test. For this research, the sample used is PT. Adaro Energy Tbk (ADRO), PT. Indo Tambangraya Megah Tbk (ITMG) and PT. Bukit Asam Tbk (PTBA).The result of this research showed that the market stock value of the coal mining company listed in LQ45 Index is higher than intrinsic stock value (overvalued) based DDM Pertumbuhan Berganda and PBV approach. While based PER approach, the market stock value of the coal mining company is lower than intrinsic stock value (undervalued). And then, for the result of paired sample t-test showed that based on DDM Pertumbuhan Berganda , PER and PBV approach has a significant difference between intrinsic value with market stock value.
Determinan struktur modal dan pengaruhnya terhadap return saham pada industri barang dan konsumsi yang terdaftar di BEI Wulandari, Ega Surya; Sunarko, Bambang; Tohir, Tohir
Performance Vol 24 No 1 (2017): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

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Abstract

Purpose: The purpose of this research is to examine influence between profitability measured by return on asset (ROA), liquidity measured by current ratio (CR), cash holding, non-debt tax shield, and asset growth on capital structure measured by debt to equity ratio (DER) and the influence on stock return. Methodology: This research was conducted during the period of 2011-2015. This research is quantitative research that used associative studies to determine the relationship or influence between two or more variables. Population in this research was all of consumer goods industries listed on Indonesia Stock Exchange during the period of research. This research combines multiple and simple regression analysis technique. In addition, hypothesis testing used coefficient of determination, F-test statistic, and t-test statistic. Findings: The result of this research indicates that profitability (ROA) has positive influence toward capital structure. Liquidity (current ratio) and cash holding have negative influence toward capital structure. Non-debt tax shield and asset growth do not have significant influence toward capital structure. Furthermore, capital structure does not have significant influence toward stock return. Keywords: profitability, liquidity, cash holding, non-debt-tax shield, asset growth, capital structure, stock return.
PENGARUH ANALISIS RASIO KEUANGAN EARLY WARNING SYSTEM (EWS) dan PRICE TO BOOK VALUE (PBV) TERHADAP HARGA SAHAM PERUSAHAAN ASURANSI YANG TERDAFTAR DI BURSA EFEK INDONESIA Sisdyanti, Amalia; Adawiyah, Wiwiek Rabiyatul; Tohir, Tohir
Performance Vol 23 No 1 (2016): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

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Abstract

This research is associated research that was done at insurance companies, in which those companies are listed in Indonesia stock exchange (BEI) for the period of 2011-2014. This research entitled “the impact of finance ratio analysis Early Warning System (EWS) and Price to Book value (PBV) towards Indonesia stock exchange (BEI) Listed insurance companies’ stock prices”. The aim of this research is to analyse the impact of liquidity ratio, claim expenses ration, agents balance to surplus ratio, premium growth ratio, the adequacy of funds ratio, and price to book value towards Indonesia stock exchange (BEI) listed insurance companies’ stock prices of 2011-2014. This research used double regression model analysis as a tool of hypothesis test. The population is 12 companies which are taken from Indonesia stock exchange (BEI) listed insurance from 2011 until 2014. Meanwhile, the sample was taken using purposive sampling method, with the result of 9 companies. The result shows that: (1) the liquidity ratio has significance positive impact towards stock prices, (2) claim expenses ratio has no significance impact towards stock prices, (3) agents balance to surplus ratio has no significance impact towards stock prices, (4) premium growth ratio has no significance impact towards stock prices, (5) the adequacy of funds ratio has significance impact towards stock prices, (6) price to book value has significance impact towards stock prices.
ANALISIS BEBERAPA VARIABEL YANG MEMPENGARUHI PROFITABILITAS PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Tohir, Tohir; Banani, Ade
Performance Vol 15 No 1 (2012): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

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Abstract

The research that entitled “Analisis Beberapa Variabel yang Mempengaruhi Profitabilitas pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia” is a case study that aims to acknowledge and analyze whether there is influence of the size of companies, debt equity ratio (DER), the growth of profits, and sales of profitability. Then, it will also analyze the variables affecting the profitability of the company among size, debt equity ratio, the growth of profits, and sales. Sampling method used in this research is the purposive sampling method, consisting 14 sample food and beverage companies listed on the Indonesia stock exchange. Using multiple regression analysis, t test, and F test in testing, both simultaneously and partially, and the elasticity test to find out which the independent variables having the greatest impact, it can be inferred that there is significance influence from debt to equity ratio (DER), the growth of profits, and sales of profitability. Next, the sale is the independent variable that has the greatest influence on profitability. Therefore, the company should pay more attention to the sales policy. The increased sales may be as consideration for investors to be able to invest in the company.
ANALISIS PENGARUH MANAJEMEN MODAL KERJA, LIKUIDITAS, LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA Sustia, Rika; Tohir, Tohir
Performance Vol 17 No 1 (2013): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

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Abstract

The profitability of manufacturing companies in Indonesia is influenced by a variety of financial factors that can be measured by using financial ratios. This research was conducted to analyze weather the working capital management, liquidity, leverage and firm size influence on the company's profitability measured by return on assets (ROA). The sample in this research was taken using purposive sampling method, in order to get 29 companies manufacturing consumer goods industries listed on the Indonesia Stock Exchange (BEI) in the year 2009-2011. The influence of independent variables such as receivables collection period (RCP), inventory conversion period (ICP), payable deferral period (PDP), current ratio (CR), debt ratio (DR) and the size of the company to the return on assets was investigated using multiple linear regression analysis method. The results showed that the variables of the receivables collection period, inventory conversion period and firm size have negative effect on return on assets and current ratio has positive effect on return on assets. While the payable deferral period and debt ratio variables have no impact on return on assets.
PENGARUH ASIMETRI KONFLIK TUGAS TERHADAP KINERJA DAN PERAN MANAJEMEN KONFLIK KOLABORASI (Kasus pada Organisasi Non Profit) Darmawati, Dwita; Tohir, Tohir; Restanti, Anisa Sri
Performance Vol 26 No 2 (2019): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (639.863 KB) | DOI: 10.20884/1.jp.2019.26.2.1332

Abstract

This study aims to explore the influence of the composition of perceptual task conflicts on group performance in non-profit organizations. In addition, this study also explores the role of moderators of collaborative conflict management on the influence of the composition of perceptual task conflicts on group performance. Data collection is done by questionnaire. Data were analyzed using hierarchical regression analysis. This study involved 232 respondents from 58 teams / working groups from non-profit organizations namely college scouts, libraries, village level government institutions, early childhood education, PKK organizations and dasa wisma. The results of hierarchical regression analysis indicate that the composition of perceptual task conflicts negatively affects group performance. However, there is not enough evidence of the role of collaboration conflict management in  with the influence of the composition of the conflict on the task of the group on group performance. Several implications are given based on the results of this study