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All Journal Bina Ekonomi: Majalah Ilmiah Fakultas Ekonomi Universitas Katolik Parahyangan International Journal of Pertapsi Jurnal Akuntansi Kontemporer
Sasmitapura, Angga
Universitas Katolik Parahyangan
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science

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ANALISIS KINERJA PORTOFOLIO MAGIC FORMULA PADA INDEKS LQ45 DI BURSA EFEK INDONESIA Angga Sasmitapura; Michael Michael; Sandra Faninda
Bina Ekonomi Vol. 26 No. 2 (2022): Bina Ekonomi: Majalah Ilmiah Fakultas Ekonomi Universitas Katolik Parahyangan
Publisher : Center for Economic Studies Universitas Katolik Parahyangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26593/be.v26i2.5716.121-132

Abstract

The rapid growth of active investors in Indonesia stock market raises awareness on the importance of investors’ skill needed in analyzing and choosing profitable stock. One of the method knows to analyze profitable stock in the market is Magic Formula introduce by Joel Grenblatt -part of value investing. Magic Formula is a method on choosing a profitable stock in a simple way based on combination of  both High Earnings Yield and High Return on Capital. The period use in this research is from 2016 – 2020. This research use LQ 45 stock listed in Indonesia Stock Exchange. This qualitative research used secondary data which is analyzed using backtesting simulation. The result of this research shows that Magic Formula’s Stock Portfolio build based on data consist of different number of stock: 15, 20, and 25 stock; combination of both high Earnings Yield and High Return on Capital. The Magic Formula’s Portfolio formed based on the LQ 45 stock has higher aritmathic average return compare to LQ 45 return and even the 15-stock-based portfolio beat the Indonesia Composite Index average return. However on the CAGR rate of return, the calculation show that the return of the Magic Formula Portfolio below the return of Indonesia Composite Index
Magic Formula: Can It Be Used to Identify 'Winning Stocks' in the Indonesian Stock Exchange? Michael, Michael; Sasmitapura, Angga; Faninda, Sandra; Fransisca, Elza; Setiawan, Amelia
International Journal of Pertapsi Vol. 2 No. 2 (2024): August 2024
Publisher : Pertapsi-Indonesia collaborated with Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijp.2.2.79-87

Abstract

Magic Formula, developed by Joel Greenblatt, offers a simplified investment model that can be used by individuals without extensive financial literacy. This model uses two key metrics: return on capital and earnings yield, to identify potentially profitable stocks. This study tests the effectiveness of the Magic Formula using data from companies listed on the Indonesia Stock Exchange over the past ten years (2011-2021). The results indicate that the Magic Formula yields an average annual return of 39.81%, significantly outperforming the market return, which stands at 6.16%.
APAKAH FINANCIAL DAN OPERATIONAL HEDGING EFEKTIF MENGURANGI EKSPOSUR NILAI TUKAR? Sasmitapura, Angga; Djajadikerta, Hamfri
Jurnal Akuntansi Kontemporer Vol. 13 No. 1 (2021)
Publisher : Widya Mandala Surabaya Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33508/jako.v13i1.2758

Abstract

In the midst of regulators' efforts to deepen the market by encouraging foreign exchange derivative transactions, this study aims to observe the effect of these derivative instruments from company perspective in reducing exchange rate exposures. In addition to hedge using derivative instruments (financial hedging), this study also observed hedging performed through firm’s operational activity (operational hedging) with control variables of export sales and foreign debt. The research object is manufacturing companies listed in IDX (Indonesia Stock Exchange) during 2010-2018 using panel data regression as data analysis method. Empirical results show that financial hedging reduce exchange rate exposures faced by companies while operational hedging has no effect. Export sales provide positive exchange rate exposures and foreign debt provide negative exchange rate exposures.
FAKTOR FINANSIAL DAN NILAI PERUSAHAAN RITEL INDONESIA Alexander, Ferdinand Morin; Sasmitapura, Angga; Michael, Michael; Meythi, Meythi
Jurnal Akuntansi Kontemporer Vol. 15 No. 3 (2023)
Publisher : Widya Mandala Surabaya Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33508/jako.v15i3.4741

Abstract

Research Purposes. The aim of this study is to delve into several factors that can fortify the firm value of retail companies during a crisis period, such as operational efficiency, financing ability, and investment returns.Research Methods. The research employs a panel regression analysis technique on retail companies listed on the Indonesia Stock Exchange (IDX) from 2016 to 2021.Research Results and Findings. The study's findings reveal that operational efficiency and financing ability can affect firm value during a crisis, whereas investment returns do not. The results of this study can assist retail companies in formulating business strategies and provide insights for investors during the decision-making process for investments in the retail sector amid a crisis.
Co-Authors Alexander, Ferdinand Morin Amelia Setiawan Faninda, Sandra Ferdinand Morin Alexander Fransisca Elza Hamfri Djajadikerta Meythi, Meythi Michael Michael Michael Michael Sandra Faninda