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Journal : JDM (Jurnal Dinamika Manajemen)

Implication of Macroeconomic Factors to Stock Returns of Indonesian Property and Real Estate Companies Maharditya, Muhammad Adika; Layyinaturrobaniyah, Layyinaturrobaniyah; Anwar, Mokhamad
JDM (Jurnal Dinamika Manajemen) Vol 9, No 1 (2018): March 2018 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v9i1.14656

Abstract

This study aims to identify the effect of interest rate change policy made by Bank Indonesia during the period of January 2010-March 2016 to stock return of the property sector and real estate. In addition, this study also aims to test whether fluctuations in government bond yields, inflation, and indigo exchange also affect the stock returns of the property sector and real estate in Indonesia. By using purposive sampling, there are 15 companies that will be used as research samples. By using multiple linear regression analysis, there is no significant negative effect of interest rate (BI Rate) and inflation on stock return of the property sector and real estate. Nevertheless, it was found that the variable fluctuation of government bond yield and dollar exchange rate against rupiah had a negative and significant effect on stock returns of property and real estate sector in Indonesia. Increased bond yield would make investors choose other instruments as an alternative to investing money. In addition, investors also tend to choose to save money in the form of US Dollar rather than investing money in the capital market, further with the weakening of the value of the rupiah will increase the amount of foreign debt from the company.
Lending Rationale of Financial Institution and Fintech on the Perception of Borrowers: A Qualitative Study Anwar, Mokhamad; Nidar, Sulaeman Rahman; Widianto, Sunu; Layyinaturrobaniyah, Layyinaturrobaniyah
JDM (Jurnal Dinamika Manajemen) Vol 12, No 2 (2021): September 2021
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v12i2.31896

Abstract

The development of Financial Institutions including Financial Technology (Fintech) in providing loans to borrowers is increasingly important in the current business financing system. This study aims to determine the perceptions of borrowers by exploring their views on lending practices pro- vided by financial institutions and fintech and identifying the factors that influence the institution’s decision to provide loans to them. This study uses a qualitative research method by asking a number of questions to debtors in one of the Micro and Small and Medium Enterprises (MSMEs) commu- nities in the city of Bandung, Indonesia. The questionnaire form is in the form of open-ended ques- tions and is distributed to 47 MSMEs in the city with various types of business fields. The results show that the factors that influence the success of borrowers in obtaining credit from both financial institutions and fintech are the factors classified as 5 Cs of credit in terms of Character, Capacity, Capital, Collateral, and Conditions. All these factors are summarized as soft information and hard information, which are applied by financial institutions and financial technology institutions.
Implication of Macroeconomic Factors to Stock Returns of Indonesian Property and Real Estate Companies Maharditya, Muhammad Adika; Layyinaturrobaniyah, Layyinaturrobaniyah; Anwar, Mokhamad
JDM (Jurnal Dinamika Manajemen) Vol 9, No 1 (2018): March 2018
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v9i1.14656

Abstract

This study aims to identify the effect of interest rate change policy made by Bank Indonesia during the period of January 2010-March 2016 to stock return of the property sector and real estate. In addition, this study also aims to test whether fluctuations in government bond yields, inflation, and indigo exchange also affect the stock returns of the property sector and real estate in Indonesia. By using purposive sampling, there are 15 companies that will be used as research samples. By using multiple linear regression analysis, there is no significant negative effect of interest rate (BI Rate) and inflation on stock return of the property sector and real estate. Nevertheless, it was found that the variable fluctuation of government bond yield and dollar exchange rate against rupiah had a negative and significant effect on stock returns of property and real estate sector in Indonesia. Increased bond yield would make investors choose other instruments as an alternative to investing money. In addition, investors also tend to choose to save money in the form of US Dollar rather than investing money in the capital market, further with the weakening of the value of the rupiah will increase the amount of foreign debt from the company.