Andi Wijayanto
Department of Business Administration, Universitas Diponegoro, Jl. Prof. Sudarto, SH, Tembalang, Semarang, Indonesia 50275

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Pengaruh Kinerja Keuangan terhadap Harga Saham Perusahaan Asuransi Umum di Bursa Efek Indonesia Periode 2017-2021 Nuzulul Nafis; Andi Wijayanto
Jurnal Ilmu Administrasi Bisnis Vol 12, No 3 (2023)
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jiab.2023.38512

Abstract

The insurance industry in Indonesia has great opportunities, but insurance is a risk-intensive business because the occurrence of claims is always shrouded in uncertainty. Investors need information in making investment decisions that are obtained by looking at the company's financial performance. Good company performance will be more attractive to investors so that the stock price increases. This study aims to determine the effect of financial performance proxied by the solvency ratio, liquidity ratio, and earnings per share on stock prices. The population in this study are general insurance companies listed on the Indonesian Stock Exchange for the period 2017-2021. The sample consist of 11 companies using purposive sampling method. This study used a linear regression analysis technique with the SPSS program. The results of this study showed that the solvency ratio, liquidity ratio, and earnings per share simultaneously have a significant effect on stock prices. Partially the solvency ratio has significant negative effect on stock price, earnings per share has significant positive effect on stock prices. While the liquidity ratio has no significant effect on stock prices.Industri asuransi di Indonesia memiliki peluang yang besar namun asuransi merupakan usaha yang padat risiko kerena kejadian klaim selalu diliputi ketidakpastian. Investor membutuhkan informasi dalam pengambilan keputusan berinvestasi yang didapatkan dengan melihat kinerja keuangan perusahaan. Kinerja perusahaan yang baik akan lebih diminati investor sehingga harga sahamnya meningkat. Penelitian ini bertujuan untuk mengetahui pengaruh kinerja keuangan yang diproksikan oleh solvency ratio, liquidity ratio, dan earning per share terhadap harga saham. Populasi dalam penelitian ini adalah perusahaan asuransi umum yang terdaftar di Bursa Efek Indonesia periode 2017-2021. Sampel terdiri dari 11 perusahaan menggunakan metode purposive sampling. Penelitian ini menggunakan teknik analisis regresi linier dengan program SPSS. Hasil penelitian menunjukkan bahwa solvency ratio, liquidity ratio, dan earning per share secara simultan berpengaruh signifikan terhadap harga saham. Secara parsial solvency ratio berpengaruh negatif signifikan terhadap harga saham, earning per share berpengaruh positif signifikan terhadap harga saham. Sedangkan liquidity ratio tidak berpengaruh signifikan terhadap harga saham.
Pengaruh Luas Pengungkapan Corporate Social Responsibility Terhadap Harga Saham Khowifah Nur Azizah; Dinalestari Purbawati; Andi Wijayanto
Jurnal Ilmu Administrasi Bisnis Vol 15, No 2 (2026)
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jiab.2026.48910

Abstract

Abstract: Stock price fluctuations are a common dynamic in the capital market and attracts the attention of investors. One of the factors causing stock price fluctuations is CSR information. In signaling theory, information about CSR activities are considered positive signals that should be able to create a positive reputation, attracting investor interest to invest, thereby increasing stock prices. However, there are many previous studies still yield diverse results.The purpose of this research is to determine the impact of the extent of economic CSR disclosure, environmental CSR, and social CSR on stock prices.This research used stock price as a dependent variable. Then, CSR economic, environment, and social disclosures are used as independent variables. The population is financial sector companies listed on the IDX during 2021-2024. By purposive sampling method, there are 16 companies were obtained as the sample of this research. The analytical technique used is multiple regression analysis. The result of this research are 1) the extent of economic CSR disclosures has no significant effect on stock price, 2) the extent of environment CSR disclosures has a significant positive effect on stock price, 3) the extent of social CSR disclosure has no significant effect on stock price 4) the extent of economic, environment, and social CSR disclosures together have a significant positive effect on stock price. The suggestions are to expand the disclosure of CSR activities and include the Index.Abstraksi: Fluktuasi harga saham merupakan dinamika yang umum terjadi di pasar modal dan menjadi perhatian investor. Salah satu faktor terjadinya fluktuasi harga saham adalah informasi aktivitas CSR. Dalam teori sinyal, informasi aktivitas CSR termasuk sinyal positif yang seharusnya mampu memunculkan reputasi positif yang dapat menarik minat investor untuk berinvestasi sehingga harga saham mengalami peningkatan. Namun, banyak penelitian sebelumnya yang masih memberikan hasil yang beragam. Tujuan penelitian ini untuk mengetahui pengaruh luas pengungkapan CSR ekonomi, CSR lingkungan, dan CSR sosial terhadap harga saham. Penelitian ini menggunakan harga saham sebagai variabel dependen. Sedangkan pengungkapan CSR ekonomi, CSR lingkungan, dan CSR sosial digunakan sebagai variabel independen. Populasi penelitian ini adalah perusahaan sektor keuangan yang terdaftar di BEI tahun 2021-2024. Dengan metode purposive sampling, didapatkan 16 perusahaan sebagai sampel penelitian. Teknik analisis yang digunakan adalah analisis regresi berganda. Hasil penelitian ini menunjukkan bahwa 1) luas pengungkapan CSR ekonomi tidak berpengaruh terhadap harga saham, 2) luas pengungkapan CSR lingkungan berpengaruh positif terhadap harga saham, 3) luas pengungkapan CSR sosial tidak berpengaruh terhadap harga saham, dan 4) luas pengungkapan CSR ekonomi, CSR lingkungan, dan CSR sosial berpengaruh positif terhadap harga saham secara simultan. Saran yang dapat diajukan adalah agar memperluas pengungkapan aktivitas CSR dan mencantumkan halaman indeks GRI dalam laporan.
EFFECT OF HERDING BIAS, OVERCONFIDENCE BIAS AND DISPOSITION BIAS IN INVESTMENT DECISIONS: A STUDY OF INDIVIDUAL INVESTORS IN THE SEMARANG CAPITAL MARKET COMMUNITY Adam Ma’rifat Muslim; Andi Wijayanto; Dinalestari Purbawati
Jurnal Ilmu Administrasi Bisnis Vol 15, No 1 (2026)
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jiab.2026.47638

Abstract

Abstract: This paper focuses on doing explanatory research using a quantitative approach. Specialised in basic linear regression analysis, the investigation was carried out using SPSS 27 Version for Mac software. It may be concluded that the Disposition Bias variable has a positive impact on the investment decision variable. This study examines the beneficial impact of the overconfidence bias variable on the investment decision variable. Furthermore, the variable of investment decision is favourably influenced by the variable of herding bias. Based on these results, the suggestions that can be conveyed by researchers, namely to individual investors who are members of the capital market community in Semarang. To further improve understanding of the capital market and financial planning. It is hoped that investors can be alert to irrational behaviors, thus enabling investors to make more rational and planned decisions.Keywords: Behavioural Finance; Stock; Investment Decision; Investor
ANALISA PENGARUH RISIKO BISNIS, STRUKTUR ASET, DAN PROFITABILITAS TERHADAP STRUKTUR MODAL (Studi pada Perusahaan-Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2019-2023) Andika Purnama Putra; Andi Wijayanto
Jurnal Ilmu Administrasi Bisnis Vol 15, No 1 (2026)
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jiab.2026.48772

Abstract

Abstract: This research aims to examine the influence of business risk, asset structure, and profitability on capital structure. The research is included in the explanatory type with a quantitative approach. The research population is food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2023 period, while the sample was taken using a purposive sampling technique so that a total of 16 companies were obtained. Research data includes secondary data taken using documentation techniques from annual financial reports published by the Indonesian Stock Exchange. The data analysis method uses panel data regression with the Chow test, Hausman test, and Lagrange multiplier test, then continues with the classical assumption test and hypothesis test. The results of the study indicate that business risk proxied by BEP does not significantly affect the capital structure, asset structure has a significant effect on the capital structure in a positive direction, and profitability proxied by ROA does not significantly affect the capital structure partially. In addition, business risk, asset structure, and profitability simultaneously affect the capital structure for food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2023 period.Abstraksi: Penelitian ini bertujuan untuk menguji pengaruh risiko bisnis, struktur aset, dan profitabilitas terhadap struktur modal. Penelitian termasuk dalam jenis eksplanatori dengan pendekatan kuantitatif. Adapun populasi penelitian adalah perusahaan manufaktur sub sektor makanan dan minuman yang terdaftar pada Bursa Efek Indonesia periode 2019-2023 sedangkan sampel diambil dengan teknik purposive sampling sehingga dapat diperoleh total 16 perusahaan. Data penelitian termasuk data sekunder yang diambil dengan teknik dokumentasi dari laporan keuangan tahunan yang dipublikasikan oleh Bursa Efek Indonesia. Metode analisis data menggunakan regresi data panel dengan uji chow, uji hausman, dan uji lagrange multiplier kemudian dilanjutkan dengan uji asumsi klasik dan uji hipotesis. Hasil penelitian menunjukkan bahwa risiko bisnis yang diproksikan dengan BEP tidak berpangruh signifikan terhadap struktur modal, struktur aset berpengaruh signifikan terhadap struktur modal dengan arah yang positif, dan profitabilitas yang diproksikan dengan ROA tidak berpengaruh signifikan terhadap struktur modal secara parsial. Selain itu, risiko bisnis, struktur aset, dan profitabilitas berpengaruh terhadap struktur modal secara simultan untuk perusahaan manufaktur sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2019-2023.