Antariksa Budileksmana, Antariksa
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Stabilitas Fenomena the Monday Effect di Bursa Efek Jakarta Hambayanti, Septi; Budileksmana, Antariksa
Journal of Accounting and Investment Vol 7, No 2: July 2006
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

The Monday Effect phenomenon is a seasonal anomaly in financial markets, which occurs when the return on stock markets is significantly negative on Monday. The presence of this anomaly violates the weak form of market efficiency because stock returns are not random, but are predictable based on certain calendar effects. The objective of this study is to empirically re-examine the presence of the Monday Effect phenomenon and the stability of the presence of this phenomenon. The sample used in this study are stock market index at Jakarta Stock Exchange (JSX), which IHSG index and LQ-45 index, over 1999 to 2005, as the proxy. The major conclusion of this study is that Monday returns are significantly negative and are lower than returns during the rest of the week at Jakarta Stock Exchange (JSX), both in IHSG index as well as LQ45 index. We also confirm the evidence over the 1999-2005 observation that: (1) the Monday Effect phenomenon at JSX, both in IHSG index and LQ45 index as well, are unstable and significantly time-varying, and (2) the intensity of the Monday Effect phenomenon at JSX, both in IHSG index as well as LQ45 index, tend to decrease since 2000,  and even disappeared in 2005.
Manfaat dan Peranan Konsultan Pajak dalam Era Self Assessment Perpajakan Budileksmana, Antariksa
Journal of Accounting and Investment Vol 1, No 2: July 2000
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

Suksesnya penerimaan pajak oleh negara akan dapat terlaksana sepanjang mendapat dukungan semua pihak tanpa terkecuali, baik pemerintah, aparatur pajak, sampai dengan wajib pajak dan masyarakat pada umumnya, termasuk konsultan pajak. Dalam kaitan tugas profesi konsultan pajak seakan-akan terdapat suatu konflik kepentingan, yang mana di satu sisi harus membantu pemerintah ikut serta mengamankan penerimaan pajak, tetapi di sisi lain juga harus sepenuhnya membantu wajib pajak dalam masalah perpajakannya. Tetapi sebenarnya hal tersebut bukanlah suatu pertentangan, karena dalam membantu atau membela kepentingan wajib pajak, konsultan pajak harus senantiasa berpedoman dan tidak boleh melanggar pada ketentuan perundang-undangan perpajakan yang berlaku. 
Pengaruh Indikator Rasio Keuangan Perusahaan Price Earning Ratio (PER) dan Price to Book Value (PBV) terhadap Return Portfolio Saham di Bursa Efek Jakarta Gunawan, Barbara; Budileksmana, Antariksa
Journal of Accounting and Investment Vol 4, No 2: July 2003
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

This emerged during a kind of perception that the financial statements do not quite believable as the basis of capital market investment decisions. Using the results of the ratio of the financial statements as an object to be examined, the study will look at the extent of the influence indicator Price Earning Ratio and Price to Book Value of the Return Portfolio Shares on the Jakarta Stock Exchange. The results showed that of the portfolio is formed, it turns out the low indicators of Price Earning Ratio and Price to Book Value does not affect the portfolio return.