Garuda - Garba Rujukan Digital

Valuasi Nilai Relatif dan Intrinsik Saham Sektor Petrokimia Utama, Yusuf Ammar; Anwar, Mokhamad
Jurnal EMT KITA Vol 9 No 2 (2025): APRIL 2025
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET) - Lembaga KITA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/emt.v9i2.3742

This study was conducted to determine the results of the valuation analysis of petrochemical sector stocks in Indonesia using the intrinsic value valuation method and relative valuation by comparing market prices. The research method used to conduct valuation is the intrinsic value approach using Discounted Cash Flow (DCF) with the Discounted Cash Flow (FCFF) model and relative value using the Price to Earnings (P/E), Price to Sales (P/S), and Price to Book Value (PBV) ratios. The sampling technique in this study is Purposive Sampling in accordance with predetermined criteria, namely petrochemical sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2019 - 2023. Stock analysis is carried out using the Top-Down Approach, starting with macroeconomic analysis, industry analysis using Porter's Five Forces, and company analysis using financial ratios. The results of intrinsic and relative value valuation that petrochemical sector stocks there are four companies that are considered overvalued, namely, BRPT, TPIA, FPNI, and ADMG. UNIC is the only one that is undervalued with an intrinsic value above the market price. So it is recommended to buy UNIC shares and sell BRPT, TPIA, FPNI, and ADMG.

Does ESG Affect Credit Risk? Ananta, Muhammad Adnan; Anwar, Mokhamad
Syntax Literate Jurnal Ilmiah Indonesia
Publisher : Syntax Corporation

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36418/syntax-literate.v10i1.17211

Environmental, social, and governance (ESG) concerns became increasingly crucial for financial institutions, including banks, as they faced new types of risks associated with ESG factors. This study aims to investigate how these ESG dimensions affected non-performing loans (NPLs) in banks across ASEAN countries. With rising investor demand for sustainable practices and intensified regulatory pressures, incorporating ESG risks into risk management frameworks became imperative. This study uses panel data regression analysis along with the Chow and Hausman tests to assess the impact of ESG factors on NPL. The sample comprised banks from Indonesia, Malaysia, the Philippines, Singapore, and Thailand, selected based on Refinitiv Eikon's ESG values. The findings revealed that while environmental and governance performance had a statistically significant negative impact on NPLs, indicating that better environmental and governance practices were associated with fewer loan defaults, social performance showed a statistically significant positive effect on NPLs, suggesting that higher social scores correlated with increased loan defaults. This study highlighted the need for banks to carefully balance their social initiatives with financial stability and underscored the importance of integrating ESG factors into risk management strategies to enhance overall financial health and sustainability.

Valuasi Nilai Relatif dan Intrinsik Saham Sektor Petrokimia Utama, Yusuf Ammar; Anwar, Mokhamad
Jurnal EMT KITA Vol 9 No 2 (2025): APRIL 2025
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET) - Lembaga KITA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/emt.v9i2.3742

This study was conducted to determine the results of the valuation analysis of petrochemical sector stocks in Indonesia using the intrinsic value valuation method and relative valuation by comparing market prices. The research method used to conduct valuation is the intrinsic value approach using Discounted Cash Flow (DCF) with the Discounted Cash Flow (FCFF) model and relative value using the Price to Earnings (P/E), Price to Sales (P/S), and Price to Book Value (PBV) ratios. The sampling technique in this study is Purposive Sampling in accordance with predetermined criteria, namely petrochemical sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2019 - 2023. Stock analysis is carried out using the Top-Down Approach, starting with macroeconomic analysis, industry analysis using Porter's Five Forces, and company analysis using financial ratios. The results of intrinsic and relative value valuation that petrochemical sector stocks there are four companies that are considered overvalued, namely, BRPT, TPIA, FPNI, and ADMG. UNIC is the only one that is undervalued with an intrinsic value above the market price. So it is recommended to buy UNIC shares and sell BRPT, TPIA, FPNI, and ADMG.

Contingency Theory and Its Implications to Corporate Financial Planning and Organization Structure Anwar, Mokhamad
Jurnal Aplikasi Manajemen Vol. 13 No. 3 (2015)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/

The development of the organization theory has existed for such long periodsespecially in terms of management theory. The driving force behind the evolution of management theory is that its efforts to look for better ways in managing organizational resources.Contingency theory which is a part of the organizational environment theories has broughtmany implications in management's decision at any organization. Especially in finance,contingency theory has been employed in some financial decisions including the decision ofcorporate financial planning as a part of the most important considerations, and thoseactions would certainly have implications to the corporate organizational structure. Thecontingency theory has been implemented by financial managers in decision making especiallyin strategic long-term and short-term financial planning regarding many assumptionsthat underlying the decision. In practice, financial managers can implement the contingencytheory by using Scenario Planning. The advantages of the contingency theory are thatthe theory has enriched the management theories by addressing the environment as one ofthe keys for managerial decision making. The theory has also helped management of organizationsin improving the quality of decision making by addressing the contingent variables.The limitation of the contingency theory is that the contingent factors are still in debatesuntil nowadays so that we cannot determine the precise numbers of contingent factors.

Determinants of Bank Profitability and Implications for Company Value with Moderating Dividend Policy Sutiman, Sutiman; Suteja, Jaja; Anwar, Mokhamad; Rachmawaty, Rachmawaty
Owner : Riset dan Jurnal Akuntansi Vol. 8 No. 3 (2024): Artikel Research July 2024
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v8i3.2181

The research is quantitative and the objective is to determine the internal (Loan Quality, Third Party Fund, Managerial Efficiency) and external (BI Rate, Inflation) variables that determine Bank profitability, and the impact of this profitability on company value by moderating the Bank's stock dividend policy. The method used is panel data regression and moderated regression analysis using Eviews 10. The data used is secondary data with a sample of 10 Book 4 banks listed on the Indonesian Stock Exchange for the 2011-2020 period. The results obtained are first Loan Quality, Third Party Funds, Managerial Efficiency, Bank Indonesia Interest Rates and Inflation Rates simultaneously have a significant and positive effect on Banking Profitability, second Banking Profitability partially has a significant and positive effect on Company Value and third Banking Profitability which is moderated by Dividend Policy partially has a significant and positive effect on Company Value

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

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.

The Effect of Inflation and MSME Production Growth on GDP with Fintech as an Intervening Variable: Study in Indonesia During the 2019-2022 Covid19 Pandemic Rahmadi, Ferddy; Saefullah, Kurniawan; Anwar, Mokhamad
Jurnal Riset Ilmu Ekonomi Vol. 3 No. 3 (2023): Jurnal Riset Ilmu Ekonomi (JRIE) Edisi Desember 2023
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrie.v3i3.80

The Covid-19 pandemic has significantly accelerated digitalization in Indonesia, particularly in the Fintech sector. Fintech, which focuses on Micro, Small, and Medium Enterprises (MSME), has experienced rapid growth during the pandemic. This study analyses the impact of inflation, MSME production growth, and the role of Fintech on GDP. The research uses a quantitative approach known as analytical descriptive research to gain a comprehensive understanding with four variables which are observed. The data was compiled by offiacial resources, such as Bank Indonesia, Indonesia Statistic Bureau, and Finance Services Authority. The results indicate that inflation has a significant positive effect, while MSME production growth is positive but insignificant. Furthermore, Fintech positively and significantly contributes to the Gross Domestic Product (GDP). Fintech can be optimized to increase MSME production growth and GDP, even though it does not mediate between inflation and GDP.

Title

Found 17 Documents
Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title Search

Found 17 Documents Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title

Found 17 Documents
Search