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M. Kholiq Mahfud, M. Kholiq
Jurusan Manajemen Fakultas Ekonomika dan Bisnis Universitas Diponegoro
Decision Sciences, Operations Research & Management

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PENGARUH UKURAN PERUSAHAAN DAN LIKUIDITAS TERHADAP STRUKTUR MODAL DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2010-2014) Umam, Muchamad Chaerul; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 5, Nomor 3, Tahun 2016
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

The capital structure is one of complex financial decision as it relates to other financial decision variables. This study aimed to examine the effect of firm size and liquidity to capital structure by using profitability as an intervening variable. Log Natural Total Assets (SIZE) is used as a proxy for the size of the company, Current Ratio (CR) is used as a proxy for liquidity, Return on Assets (ROA) is used as a proxy for profitability and Debt to Equity Ratio (DER) is used as a proxy for capital structure.This study uses 40 manufacturing companies listed in Indonesian Stock Exchange during the period 2010-2014 as the sample. Determination of the samples was done by purposive sampling method. The analysis technique used is path analysis using computer software programs such as AMOS 20.0. Next, sobel test is used in the interest to test the strength of the indirect effect of independent variables on the dependent variable through intervening variable.The results showed that SIZE have no significant effect on ROA, while CR have significant positive effect on ROA. SIZE have significant positive effect on DER, while CR and ROA have significant negative effect on DER. Furthermore, sobel test results showed that ROA can not mediate the effect of SIZE to DER, while the ROA may mediate the effect of CR to DER.
PENGARUH SIZE, PROFITABILITAS LEVERAGE DAN UMUR TERHADAP PENGUNGKAPAN TANGGUNG JAWAB SOSIAL PERUSAHAAN (Studi Empiris Perusahaan Manufaktur yang Listing di BEI TAHUN 2010 – 2013) Sunaryo, Bustan Arya; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 5, Nomor 2, Tahun 2016
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Factors thought to affect the disclosure of corporate social responsibility (CSR) is the company size, profitability, leverage and age. However, based on the results of previous studies showed different results depending on the influence of these variables on disclosure of corporate social responsibility (CSR). The purpose of this study was to analyze the effect of firm size, profitability, leverage and age on the disclosure of corporate social responsibility (CSR). The sample used in this study were 75 companies listed on the Stock Exchange and its shares are actively traded during the period 2010-2013 by using purposive sampling technique. The data used is secondary data. The analysis technique used is multiple linear regression. According to analysis done can be seen that the size of the company does not affect the disclosure of corporate social responsibility (CSR), the profitability of a positive effect on social responsibility disclosure (CSR), leverage significant negative effect on the disclosure of corporate social responsibility (CSR) and the age of the company is not affect the disclosure of social responsibility (CSR). Test results of multiple linear regression showed that the regression model is used to predict good for the disclosure of social responsibility (CSR). While the disclosure of corporate social responsibility (CSR) can be explained by the independent variables are firm size, profitability, leverage and age of 20.1%.
PENGARUH CAPITAL ADEQUACY RATIO(CAR), RETURN ON ASSETS(ROA), DANA PIHAK KETIGA(DPK), NON PERFORMING LOAN(NPL) DAN NET INTEREST MARGIN(NIM) TERHADAP PENYALURAN KREDIT PERBANKAN (Studi Pada Bank Umum yang terdaftar di BEI periode 2009-2013) Sekar Primasari, Nathasa; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 4, Nomor 2, Tahun 2015
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

The purpose of this research is to examine the influence of Capital Adequacy Ratio (CAR), ReturnOn Assets (ROA), Third Party Fund (DPK), Non Performing Loan (NPL) and Net Interest Margin(NIM) to distribution of credit in commercial bank. This research used the Commercial Bank which was go public and listed it to Indonesian Stock Exchange. The data that it used at this research came from the annual published financial report of each Commercial Banks.The population in this research was all Commercial Banks that was go public and listed it to Indonesian Stock Exchange during period 2009 through 2013. The amount of population was 35commercial banks. After passed the purposive sampling method, amount of the bank that fulfilled the criteria of sample became 25 commercial banks. The method that used in this research was multiple regression analysis and then used assumption classic test and used hypothesis test that including F-statistic, T-statistic and determination of coefficients (R2).The result of this research was CAR variable influence negatively and not significant to distribution of credit, ROA variable influence negatively and significant to distribution of credit and DPK,NPL and NIM variable influence positively and significant to distribution of credit.
ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI PENYALURAN KREDIT UMKM (Studi Pada Bank Umum yang Terdaftar di Bursa Efek Indonesia Periode 2009-2013) Nurlestari, Annisa; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 4, Nomor 4, Tahun 2015
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

The purpose of this research is to examine the influence of Capital Adequacy Ratio (CAR), Third-Party Funds (TPF), Non-Performing Loan (NPL), Interest Spread and Return On Assets (ROA) to distribution of credit of SME in commercial bank. This research used the Commercial Bank which was listed it to Indonesian Stock Exchange. The data that it used at this research came from the annual published financial report of each Commercial Banks.             The population in this research was all Commercial Banks that was listed it to Indonesian Stock Exchange during period 2009 through 2013. The amount of population was 32 commercial banks. After passed the purposive sampling method, amount of the bank that fulfilled the criteria of sample became 11 commercial banks. The method that used in this research was multiple regression analysis and then used assumption classic test and used hypothesis test that including F-statistic, T-statistic and determination of coefficients (R2).            The result of this research was CAR variable influence negatively and significant to distribution of SME’s credit, ROA variable influence negatively and significant to distribution of SME’s credit and DPK and NPL variable influence positively and not significant to distribution of SME’s credit. Interest spread variable influence negatively and not significant to distribution of SME’s credit.
ANALISIS PENGARUH KEMAMPUAN MEMBAYAR KLAIM, PROFITABILITAS, RISIKO UNDERWRITING, DAN REASURANSI TERHADAP SOLVABILITAS PERUSAHAAN ASURANSI (Studi Pada Perusahaan Asuransi Yang Terdaftar di Bursa Efek Indonesia Periode 2008-2013) Tarigan, Angga Primasandi Kurniawan; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 4, Nomor 3, Tahun 2015
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Solvability takes a big role in an insurance company’s life, they have to make sure that it’s always in a certain minimum condition. Discovering the influennce of Total Claim Paid, Profitability, Underwriting Risk, and Reinsurance to The Solvability of Insurance Companies is the purpose of this research. ROA (Return on Assets) is used as the proxy of profitability and RBC (Risk Based Capital) is used on solvability. Go Public Insurance Companies that listed on BEI are the companies that used as the objects of this research.There are ten insurance companies listed on BEI that can be used as the population of this research, which then processed through purposive sampling to determine the sample by applying some criterias until finally resulted with nine companies as the sample, this research work on the period of 2008-2013, so it will got fifty four data as the observation points. The data that used on this research was secondary data that collected from financial reports of the companies and InfoBank Research Company. The method used in this research was multiple regression analysis, including assumption classic test and used hypothesis test starting F-statistic, T-statistic and then determination of coefficients (R2).The results showed that Total Claim Paid and Underwriting Risk have a positive  significant influence on Solvability, ROA doesn’t have significant influence on Solvability, and then Reinsurance has a negative significant influence on Solvability. Berbahasa Inggris.
ANALISIS PENGARUH TOTAL ASSET, FUND AGE , EXPENSE RATIO DAN PORTOFOLIO TURNOVER TERHADAP KINERJA REKSA DANA PERIODE 2012 - 2014 Pambudi, Yusuf Satrio; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 5, Nomor 2, Tahun 2016
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Mutual fund An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are Managed by an professional investmen maganer that can manage the fund in accordance with its investmen objectives.The method used is multiple regression analysis with the classical assumption as statistical requirements.  The  research  variables  consisted  of  total  assets,  fund  age,  expense  ratio  and portfolio turnover. Data used in the study include the NAB monthly data, the effective date of mutual funds, expense ratio and portfolio turnover in the period 2012 - 2014. Forty-five conventional mutual funds with the observation period of 3 years cover 15 equity funds, 15 fixed income funds and 15 mixed fund.The results show  The partial test showed that  total asset and expense ratio give a positive effect and significant on the performance of conventional mutual fund. Portofolio turnover give anegative effect and not significant on the performance of mutual fund. Fund age give a positif effectbut not significant on the performance of mutual fund.
DETEKSI PERILAKU HERDING PADA PASAR SAHAM INDONESIA & SINGAPURA TAHUN 2011 – 2015 Ramadhan, Taofan; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 5, Nomor 2, Tahun 2016
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Herding behavior is one of the investor's irrational behavior that can destabilize the stock market. When herding happened, investors tend not to use the analysis in making investment decisions but follow the market consensus or imitate a decision of other investors.This study discusses whether herding behavior occurs in emerging market specifically Indonesia Stock Market and also developed market specifically Singapore Stock Market. By looking at the relationship between return market portfolio and Cross Sectional Absolute Deviation (CSAD), then herding behavior in a market can be identified. Herding detection performed on different market conditions, so this study using quantile regression analysis.The result of this study shows that there is no indication of herding behavior in both stock market, which means that investors tend to behave rationally in making investment decisions.
ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL (PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE TAHUN 2010-2014) Yudhiarti, Retno; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 5, Nomor 3, Tahun 2016
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

This experiment aims to examine the factors that affect the capital structure at manufacturing companies. The dependent variable in this study is the capital structure as measured by DER. The independent variables are profitability, asset structure, sales growth, cash holdings, liquidity and size of the company. The manufacturing company which is the object of this research is manufacturing companies that went public and was listed on the Indonesia Stock Exchange. The sample population in this study is thirty companies listed on the Stock Exchange. The sampling technique used purposive sampling techniques to determine the sample, the study was conducted during the period 2010-2014, in order to obtain one hundred fifty research data. The data used in this research is secondary data drawn from the annual financial statements of companies listed on the Stock Exchange, which was then analyzed using multiple linear regression analysis which includes the classical assumption test and hypothesis testing using the coefficient of determination (R ²), statistical test F, statistit t test with significance level of 5%. The results of this study indicate that company size has a positive and significant impact on the capital structure of companies manufacturing, sales growth has a positive effect but not significant to the company's capital structure manufacturing, asset structure and liquidity has a negative and significant impact on the capital structure of manufacturing companies, while profitability and cash holding has a negative effect and no significant effect on the capital structure of the manufacturing company.
ANALISIS PENGARUH FUND CASH FLOW, FUND SIZE, FUND LONGEVITY, EXPENSE RATIO DAN TURNOVER RATIO TERHADAP KINERJA REKSA DANA (Studi Kasus : Reksa Dana Pendapatan Tetap Periode Tahun 2011-2015) Sukmaningrum, Galuh; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 5, Nomor 3, Tahun 2016
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Mutual funds are used to collect funds from public investor to be invested in portfolio securities by investment manager who has license from OJK. The purpose of this study is to examine the influence of fund cash flow, fund size, fund longevity, expense ratio and turnover ratio to performance of fixed income mutual funds. The data used are SBI, JCI, TNA annually, NAB monthly, fund age, and prospectus annually. The samples used in this study were 20 fixed income mutual funds which listed and published by OJK during period 2011-2015. The Analytical method used in this study is pooled panel LSDV (Least Square Dummy Variable) with F-statistic test, t-statistic test, determination of coefficients (R2), classical assumption test such as autocorrelation test, heteroscedasticity test and multicolinearity test. The results of this study indicate that fund longevity has a positive significant on performance of mutual funds and expense ratio has a negative significant on performance of mutual funds, while fund cash flow, fund size dan turnover ratio have insignificant effect on performance of mutual funds.
ANALISIS PENGARUH DISTRESS RISK, FIRM SIZE, BOOK TO MARKET RATIO, RETURN ON ASSETS, DAN DEBT EQUITY RATIO TERHADAP RETURN SAHAM Husein, Ferhat; Mahfud, M. Kholiq
Diponegoro Journal of Management Volume 4, Nomor 3, Tahun 2015
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

The purpose of this research is to examine the influence of Distress Risk, Firm Size, Book to Market Ratio (BMR), Return On Assets (ROA), and Debt to Equity Ratio (DER) to stock return. This research used the Corporate data which have gone public and listed it to Indonesian Stock Exchange and classified with index Lq45. The data that it used at this research came from the annual published financial report of Indonesian Capital Market Directory period 2009-2013 with 25 corporate sampleThe method that used in this research was multiple regression analysis and then used assumption classic test and used hypothesis test that including F-statistic, T-statistic and determination of coefficients (R2).            The results of this research shows that distress risk have positive influence but not significant to stock return , size has a negative influence and has significant influence to stock return, BMR have a negative influence and have significant influence to stock return, ROA and DER does not have significant influence to stock return
Co-Authors Angga Primasandi Kurniawan Tarigan, Angga Primasandi Kurniawan Annisa Nurlestari, Annisa Bustan Arya Sunaryo, Bustan Arya Ferhat Husein, Ferhat Galuh Sukmaningrum, Galuh Muchamad Chaerul Umam, Muchamad Chaerul Nathasa Sekar Primasari, Nathasa Retno Yudhiarti, Retno Taofan Ramadhan, Taofan Yusuf Satrio Pambudi, Yusuf Satrio