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All Journal Economic Journal of Emerging Markets MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN JURNAL BISNIS STRATEGI Jurnal Ilmu Sosial dan Humaniora Jurnal Keuangan dan Perbankan Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Gadjah Mada International Journal of Business Among Makarti Proceeding SENDI_U International Research Journal of Business Studies (E-Journal) Jurnal Ekonomi dan Bisnis Jurnal Dinamika Ekonomi dan Bisnis Jurnal Riset Akuntansi dan Keuangan Jurnal Organisasi Dan Manajemen Fokus Ekonomi Equilibria Pendidikan : Jurnal Ilmiah Pendidikan Ekonomi International Journal of Social Science and Business Magisma: Jurnal Ilmiah Ekonomi dan Bisnis Atma Jaya Accounting Reseach (AJAR) JIMEK : Jurnal Ilmiah Mahasiswa Ekonomi JASF (Journal of Accounting and Strategic Finance) Jurnal Ekonomi Dan Bisnis Jurnal Manajemen Jurnal Pasar Modal dan Bisnis Inobis: Jurnal Inovasi Bisnis dan Manajemen Indonesia Journal of Management and Entrepreneurship Research Management and Accounting Expose Jurnal Akuntansi Keuangan dan Bisnis Jurnal Manajemen dan Kewirausahaan Indonesian Journal of Sustainability Accounting and Management

Robiyanto

Universitas Kristen Satya Wacana

Author-ID : 551823

Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

Published : 85 Documents Claim Missing Document

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Month of the Year Effect pada Pasar Obligasi di Indonesia Robiyanto Robiyanto
Jurnal Ekonomi dan Bisnis Vol 20 No 2 (2017)
Publisher : Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

This study examines the month-of-the-year effect on the bond returns in Indonesia. I use the monthly closing price index (Indonesia Bond Indexes / INDOBeX) data for the periods of July 2003-July 2017 from Bloomberg. I then run the Generalize Autoregressive Conditional Heteroscedasticity (GARCH) analysis technique to analyze the data because the residuals exhibit a significant pattern of Autoregressive Conditional Heteroscedasticity (ARCH). The results show that only the month of July has a significantly positive effect on the bond returns; indicating that there is the month-of-the-year effect in the Indonesian bond market. Further, these also imply that the Indonesian bond market does not exhibit a random walk pattern and consequently they are inefficient in the weak form.AbstrakPenelitian ini menguji pengaruh bulan-bulan perdagangan (month of the year) terhadap return obligasi di Indonesia. Data yang dipergunakan dalam penelitian ini adalah data indeks harga obligasi (Indonesia Bond Indexes / INDOBeX) penutupan bulanan selama periode Juli 2003 hingga Juli 2017 yang diperoleh dari Bloomberg. Analisis data dilakukan dengan menggunakan teknik analisis Generalize Autoregressive Conditional Heteroscedasticity (GARCH) karena pola residual yang dihasilkan menunjukkan adanya pola Autoregressive Conditional Heteroscedasticity (ARCH) yang signifikan. Hasil penelitian ini menunjukan bahwa bulan Juli memiliki pengaruh positif yang signifikan terhadap return obligasi di Indonesia. Sementara bulan-bulan lainnya tidak memiliki pengaruh terhadap return obligasi di Indonesia. Hasil ini menunjukkan bahwa terjadi month of the year effect di pasar obligasi di Indonesia. Temuan ini memiliki implikasi bahwa pasar obligasi di Indonesia tidak berjalan acak (random walk) sehingga tidak efisien dalam bentuk lemah.

Struktur modal, profitabilitas, dan nilai perusahaan: Efek moderasi Good Corporate Governance Afi Virna Noviani; Apriani Dorkas Rambu Atahau; Robiyanto Robiyanto
Jurnal Ekonomi dan Bisnis Vol 22 No 2 (2019)
Publisher : Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

Penelitian ini bertujuan menganalisis pengaruh struktur modal dan profitabilitas terhadap nilai perusahaan dengan Good Corporate Governance (GCG) sebagai variabel moderasinya. Penelitian ini menggunakan data laporan keuangan tahunan yang diperoleh dari 27 perusahan yang tercatat dalam Indeks Bisnis 27 periode 2014-2016. Teknik pengumpulan data menggunakan metoda purpose sampling dengan sampel penelitian 23 perusahaan. Analisis dalam penelitian ini menggunakan program STATA 11. Hasil penelitian menunjukkan bahwa struktur modal secara signifikan tidak berpengaruh terhadap nilai perusahaan dengan Good Corporate Governance sebagai variabel moderasi, sedangkan profitabilitas secara signifikan berpengaruh terhadap nilai perusahaan dengan GCG sebagai variabel moderasinya.

Dynamic portfolio formulation using bitcoin and LQ45 stocks Isna Anggita; Robiyanto Robiyanto
Jurnal Ekonomi dan Bisnis Vol 25 No 1 (2022)
Publisher : Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24914/jeb.v25i1.4790

Penelitian ini bertujuan untuk menganalisis kinerja portofolio dinamis yang dibentuk antara bitcoin dengan saham LQ45 apakah memiliki kinerja yang lebih baik dibandingkan dengan portofolio yang hanya dibentuk dari saham LQ45 saja. Jenis data yang digunakan dalam penelitian ini yaitu data sekunder berupa time series yang diteliti pada masa pandemi covid-19 mulai 1 Januari 2020 hingga 31 Desember 2020. Data dalam penelitian ini berupa data kuantitatif. Sampel dalam penelitian ini adalah delapan saham. Analisis dalam penelitian ini menggunakan metode yang dapat mendukung korelasi dinamis pada aset dan kelainan dalam distribusi return saham yaitu DCC-GARCH. Hasil penelitian menunjukkan bahwa bitcoin memiliki korelasi negatif dengan saham LQ45 sehingga dapat dijadikan sebagai aset lindung nilai. Pengukuran kinerja portofolio akan diukur berdasarkan Jensen Index, Treynor Index, Sharpe Index, Sortino Ratio dan Omega Ratio. Secara singkat, hasil dari pengukuran kinerja portofolio menyimpulkan bahwa dengan melibatkan bitcoin ke dalam pembentukan portofolio akan menghasilkan kinerja portofolio yang lebih baik.

FUNDING ANALYSIS OF MURABAHAH, MUSYARAKAH, AND MUDHARABAH ON RETURN ON ASSET ON SHARIA BANKS IN INDONESIA Rihfenti Ernayani; Robiyanto Robiyanto
Jurnal Dinamika Ekonomi & Bisnis Vol 16, No 2 (2019)
Publisher : Universitas Islam Nahdlatul Ulama Jepara

The purpose of this study to examine, analyze, and prove the effect of mudharabah financing, musyarakah financing and murabahah financing on return on assets of Sharia Commercial Banks in Indonesia. The sample is taken by purposive sampling; there are eight Sharia Commercial Banks registered at Bank Indonesia which become samples in this study. Regression analysis used to analyze the data. Mudharabah financing and murabahah financing doesn’t affect return on assets significantly, while musyarakah financing has a negative significant effect toward return on assets.

Pengaruh Tingkat Inflasi, Tingkat Suku Bunga BI, dan Nilai Tukar Usd-Idr terhadap Perubahan Harga Saham Sektor Perusahaan Manufaktur di Indonesia Adi Cahya Stefanus; Robiyanto Robiyanto
International Journal of Social Science and Business Vol. 4 No. 2 (2020): May
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v4i2.22484

The objective of this study is to find out how macroeconomic factors such as exchange rate, BI rate and inflation rate can affect the manufacturing sector stock price index in IDX from 2011 until 2018. Generalized Autoregressive Conditional Heteroscedasticity (GARCH) is used as the analysis method in this research to find the fittest model. The result, only exchange rate that no significant effect to manufacturing sector stock, price index, Inflation and BI rate have significant effect to manufacturing sector stock price index.

Dampak Faktor Internal dan Eksternal terhadap Harga Saham Sektor Infrastruktur Bonita Restu Dwijayati; Robiyanto Robiyanto
International Journal of Social Science and Business Vol. 4 No. 1 (2020): February
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v4i1.23657

This research aims to test the impact of internal and external factors both simultaneously and partially against the stock price of infrastructure sectors. Research using quantitative methods. The population in this study is the entire infrastructure, utilities and transportation company listed on the Indonesia Stock Exchange in the period 2014-2018. The sample selection technique is using the purposive sampling method. Based on predefined criteria, acquired 30 companies are being sampled. Data analysis techniques use a regression analysis of data panels. The results showed that the simultaneous variables of the DPR, NPM, CCC and interest rates had significant effect on the stock price of infrastructure sectors. As for the partial, the variables of the DPR and NPM positively influence insignificant against the stock price. On the other hand the CCC variables have significant negative effect on the stock price and the interest rate is significantly positive against the stock price.

The Role of Growth Opportunity and Internal Factor Toward Capital Structure of Manufacturing Company Member in Jakarta Islamic Index Wafa Anggraeny; Robiyanto Robiyanto
International Journal of Social Science and Business Vol. 4 No. 3 (2020): August
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v4i3.24990

The study aimed to analyze the factors that determined the capital structure of the manufacturing companies listed in the Jakarta Islamic Index (JII) from the period of 2015 to 2018. The independent variables in this study were profitability, asset structure, company size, and growth opportunity. The samples were taken by using the purposive sampling method and obtained 10 companies as research samples. Data analysis techniques use a regression analysis of data panel. The results of the regression panel in this study showed that profitability had a significant positive effect on capital structure. The asset structure, firm size and growth opportunity variables do not significantly influence the company's capital structure. This research implies that companies need to pay attention to profitability variable in determining capital structure.

The Effect Investment, Funding, and Dividend Policy Toward the Company Value Alfi Syahri; Robiyanto Robiyanto
International Journal of Social Science and Business Vol. 4 No. 3 (2020): August
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v4i3.24991

This study aims to analyze the effect of financial policy consisting of investment policies proxied by Total Asset Growth (TAG) and Market Book to Asset (MBAR), funding policies proxied by Debt to Equity Ratio (DER) and dividend policies proxied by the Dividend Payout Ratio (DPR) on the value of companies proxied by Price to Earning Ratio (PER) and Price to Book Value (PBV). The research method used in this study is panel regression analysis. Furthermore, the data in this study presented as quantitative data. The data is taken from secondary data in the form of panel data listed from 2015 to 2018 research periods. The findings showed that financial policy has a significant impact on firm value.

Performance Evaluation of Exchange Traded Fund in The Indonesia Stock Exchange Adi Cahya Stefanus; Robiyanto Robiyanto
International Journal of Social Science and Business Vol. 4 No. 4 (2020): November
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v4i4.29422

This study aims to evaluate the performance of the Exchange Traded Fund (ETF) index in the Indonesia Stock Exchange by using the Treynor Ratio, Sharpe Ratio, Sortino Ratio, Jensen Alpha, Information Ratio, and Omega Ratio. This research uses a quantitative descriptive approach, and the data source to be applied in this research is secondary data, where the data to be used is the ETF listed on the IDX. The data collection technique will be carried out with a documentation study. There are 12 ETFs to be evaluated. The data used in this study are the weekly closing price and risk-free investment that is represented by the BI rate from January 2018 to December 2019. The result of this study shows that there are only two of the Exchange Traded Fund that has better performance than risk-free investment if it is calculated by using the Sharpe Ratio, Sortino Ratio, Information Ratio, and Omega Ratio. In contrast, the Treynor Ratio and Jensen Alpha show negative value or worse than risk-free investment.

Fundamental and Macroeconomic Factors on Manufacturing Companies’ Stock Returns Siska Gita Pratiwi; Robiyanto Robiyanto; Samuel Martono
International Journal of Social Science and Business Vol. 5 No. 1 (2021): February
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v5i1.29605

Investments are made to obtain future benefits. Stocks are one of the most popular investments in the capital market. The advantage that can be obtained from the stock investment is stock returns, where the returns obtained can be positive or negative. This study aims to analyze the influence of fundamental and macroeconomic factors on stock returns of manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2019. This study used secondary data and the sample of this research was 37 manufacturing companies obtained through the purposive sampling method with panel regression as the data analysis. The results showed that the fundamental factors that affect stock returns are Price to Book Value (PBV), while the Debt to Equity Ratio (DER) and Price to Earnings Ratio (PER) do not affect manufacturing stock returns. Some macroeconomic factors such as inflation, the BI Rate, and changes in world oil prices proved to not affect the stock returns of manufacturing companies. This research implies that manufacturing companies need to pay attention to Price to Book Value (PBV) in determining stock returns.

Co-Authors A. Harijono Adi Cahya Stefanus Adi Rahadi Putra Adiputri, Bio Labora Afi Virna Noviani Akhmadi Akhmadi Alfi Syahri Alfi Syahri Anggraeny, Wafa Anggreini Pamilangan Anisha Cahyaningrum Apriani Dorkas Rambu Atahau Ardilla Putri Naina Sari Ashalia Fitri Yuliana Ashalia Fitri Yuliana Bagas Ari Nugroho Bonita Restu Dwijayati Budi Frensidy Budi Frensidy, Budi Cahyono, Aji Wikan Christina, Olivia Christopher Anthony Surya Dharma Dea Prastica Alsyahrin Dilla Andharini Eka Handriani Enrico Pranata Adiwidjojo Etheldreda Gladys Salvatori Eva Nurlita Fahmi Ihwanul Arifin Farrel Tegar Giovanni Fatikasari, Imania Gabriela Elvina Dwiastuti Siahaan Hadi, Natanael Kristolife Ardana Happy Catherine Harjum Muharam Hartanto, Aldhi Fajar Heny Handayani Hizkisevia Ayu Cahyapuspita Irene Rini Demi Pangestuti Isna Anggita Jenifer Christiani Bowa Kezia Viona Sugiyanto Kristiana Oktavia Kristiana Oktavia Kumar, Joseph John Allwyn Lakaba, Angriana Maria Magdalena Marwanti Mesakh Prihanto Surya Putra Mikha Mandela Kapahang Nila Listiana Nurlita, Eva Nurohman Nurohman P Purwanto Pamilangan, Anggreini Patrisinus Ceasar Gunadi Paulus Hartono Petrus Wijayanto Prayogo Prayogo Rihfenti Ernayani Ryan Bagas Wikantyoso Samuel Martono Silvia Putri Faridayanti Sintikhe Mega Treisya Siska Gita Pratiwi Siska Gita Pratiwi Siti Puryandani Stefan, Yonatan Alvin Stefanus, Adi Cahya Stefany Cindy Sugiyanto Sudjinan Sudjinan Sugeng Wahyudi, Sugeng Suryani, Cyndi Susanto, Auberta Danice Triyanto Ullanchiang Meillenia Tumbal Venina Cindy Kusumawati Vicho Dwindra Arisandhi Wafa Anggraeny Wisnu Mawardi Yahya Rechtiawan Djari Yehezkiel Chris Setiawan Yonatan Alvin Stefan Yunita Yunita Yunita Yunita Yunita Yunita Yuvica Lara Rovantiane Yuvica Lara Rovantiane Adicondro

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