Irene Rini Demi Pangestuti
Departemen Manajemen Fakultas Ekonomika dan Bisnis Universitas Diponegoro

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ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KEBIJAKAN STRUKTUR MODAL DENGAN UKURAN DAN UMUR PERUSAHAAN SEBAGAI VARIABEL KONTROL (STUDI PADA PERUSAHAAN MANUFAKTUR DAN ENERGI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015-2019) Alexander Natanael Silaban; Irene Rini Demi Pangestuti
Diponegoro Journal of Management Volume 11, Nomor 4, Tahun 2022
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

This research aims to examine the main factors that influence capital structure policy proxied by debt ratio (DR) especially in manufacturing and energy companies listed on the Indonesia Stock Exchange (IDX) during 2015-2019. The population of this research consists of manufacturing and energy companies listed on IDX in year 2015-2019. This research used secondary data and purposive sampling method to determine the study sample. The total samples in this study are 16 companies. Multiple Regression is used as the analysis technique in this research. The study documents the negative significant effect of profitability, liquidity, and non-debt tax shield on capital structure policy. Conversely, tangibility and cash flow volatility have the positive significant effect on capital structure policy. Moreover, growth has no significant effect on capital structure policy. As a control variables, firm size and company age have a good function in controlling the effect of independent variables on dependent variable.
ANALISIS PENGARUH CORPORATE GOVERNANCE, DAN OWNERSHIP STRUCTURE TERHADAP CAPITAL STRUCTURE DENGAN FIRM SIZE SEBAGAI VARIABEL KONTROL (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2016-2020) Surya Maulana Ibrahim; Irene Rini Demi Pangestuti
Diponegoro Journal of Management Volume 11, Nomor 5, Tahun 2022
Publisher : Faculty of Economics and Business Diponegoro University

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This study aims to analyze the effect of Corporate Governance and Ownership Structure on DAR in manufacturing companies listed on the Indonesia Stock Exchange in the 2016-2020 period. This study uses DAR as the dependent variable. The independent variables used are Board size (BOD), Independent Commissioner (IC), Audit Committee (AC), Managerial Ownership (MO), Institutional Ownership (IO) with Firm Size as a control variable. This study uses secondary data obtained from the annual reports of Manufacturing Companies listed on the Indonesia Stock Exchange (IDX) during the 2016-2020 period. The number of samples used was 33 with purposive sampling method, so that a total of 165 observations were obtained. This research uses multiple linear regression method with IBM SPSS 26 program which consists of classical assumption test, f statistic test, t statistic test, and coefficient of determination (R2) test. During the observation period, it shows that the data in this study are normally distributed. This shows that the data used have met the requirements to use the multiple linear regression equation model. The results of this study indicate that Board Size and Independent Commissioner have a significant negative effect on DAR, Managerial Ownership and Institutional Ownership have a significant positive effect on DAR. Meanwhile, the Audit Committee has no effect on DAR.
PENGARUH SIKLUS KONVERSI KAS DAN CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar di ASEAN-5 Periode 2016-2020) Errien Devitha; Irene Rini Demi Pangestuti
Diponegoro Journal of Management Volume 11, Nomor 6, Tahun 2022
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

This research aims to examine the effect of cash conversion cycle and corporate governance on firm value. The independent variables of this research are proxied by cash conversion cycle, independent director, board size, audit committee size, frequency of board meeting, and then firm value measured by Tobin’s Q and Price to Book Value as dependent variable. In addition, firm growth, sales growth, firm size and leverage are used as a control variable. This research used secondary data and the population of this research is 450 manufacturing firms listed in the stock exchanges of the ASEAN-5 countries (Indonesia, Thailand, Philippines, Malaysia, and Singapore) for the period 2016-2020. By purposive sampling methods, 114 manufacturing firms were obtained as the sample of this research. This research used Generalized Least Square (GLS) to estimate the model parameters. The results of this research show that cash conversion cycle has a negative significant effect on firm value. Corporate governance variable which is board size has a negative significant effect on Tobin’s Q but insignificant on PBV. More, frequency of board meeting has a negative and significant effect on firm value. In addition, independent director and size of the audit committee variable has no impact on firm value
Analisis Pengaruh Harga Minyak Mentah Dunia, Harga Batubara, Harga Emas, Inflasi, dan Nilai Tukar terhadap IHSG Mahendra Dedi Prasada; Irene Rini Demi Pangestuti
Diponegoro Journal of Management Volume 11, Nomor 6, Tahun 2022
Publisher : Faculty of Economics and Business Diponegoro University

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This study aims to examine the effect of world crude oil prices, coal prices, gold prices, inflation, and the exchange rate on the IDX Composite. The sample used in this study is monthly data from the period January 2009 – December 2019 totaling 132 samples. This study uses the Autoregressive Distributed Lag model to test the long-term and short-term effects by applying the optimal lag. Before performing the Autoregressive Distributed Lag test, the Augmented Dickey Fuller Unit Root Test analysis and the Cointegration Bound Test were performed. The classical assumption test was carried out using the Breusch-Godfrey Serial Correlation LM Test and the Heteroscedasticity Test using the Breusch-Pagan-Godfrey method. Hypothesis testing is done by using the F test method, the coefficient of determination, and the T test. The results of this study are the gold price has a significant positive effect on the IDX in the short and long term, the exchange rate has a significant negative effect on the IDX in the short term and in the previous 1 month, but has no effect in the long term. World crude oil prices, coal prices, and inflation have no effect on the JCI, both in the short and long term.
PENGARUH PERISTIWA PANDEMI COVID-19 TERHADAP IMBAL HASIL ABNORMAL (Studi Peristiwa pada Sembilan Sektor Emiten di Bursa Efek Indonesia) James Andrew Hadiprajitno; Irene Rini Demi Pangestuti
Diponegoro Journal of Management Volume 12, Nomor 1, Tahun 2023
Publisher : Faculty of Economics and Business Diponegoro University

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ABSTRACT This study examines the effect of the announcement first COVID-19 case in Indonesia on the abnormal returns of nine issuers' stock indices and examines government policies in preventing the spread of COVID-19 on the abnormal returns of nine issuers' stock indices. The sample used in this study consisted of nine issuer stock indexes, namely, agriculture sector, mining sector, basic industry and chemical sector, miscellaneous industry sector, consumer goods industry sector, property, real estate and building construction sector, infrastructure, utilities and transportation sector, financial sector, trade, services and investment sector in the period March 2, 2020 and March 31, 2022. The research analysis technique used is the t-test with related samples. The results stated that the announcement first COVID-19 case in Indonesia had a positive effect on the abnormal returns of nine issuers' stock indices. Meanwhile, the announcement first PSBB in Indonesia has a negative effect on the abnormal returns of 9 stock index issuers.