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All Journal Jurnal Muara Ilmu Ekonomi dan Bisnis MEDIA BISNIS TEKIBA : Jurnal Teknologi dan Pengabdian Masyarakat E-Jurnal Manajemen Trisakti School of Management (TSM) E-Jurnal Akuntansi TSM
Hilary Flora Agustina Tulli Lasar
STIE Trisakti
Computer Science & IT Control & Systems Engineering Economics, Econometrics & Finance Electrical & Electronics Engineering Engineering Environmental Science Law, Crime, Criminology & Criminal Justice Mechanical Engineering Social Sciences

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THE ANALYSIS OF HIGHEST PAYING DIVIDEND COMPANIES STOCK RETURNS VOLATILITY IN INDONESIA Ariesta Tika Kinanti Pangestu Putri; Hilary Flora Agustina Tulli Lasar; Regi Muzio Ponziani
Jurnal Muara Ilmu Ekonomi dan Bisnis Vol. 7 No. 1 (2023): Jurnal Muara Ilmu Ekonomi dan Bisnis
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jmieb.v7i1.23150

Abstract

Penelitian ini bertujuan untuk memodelkan volatilitas return indeks saham perusahaan dividen tertinggi di Indonesia (DIV 20) sebelum dan sesudah pandemi COVID 19. Model keluarga ARCH (Autoregressive Conditional Heteroscedasticity) digunakan dalam hal ini. Periode penelitian diperpanjang dari 18 Mei 2018 hingga 18 Februari 2022. Batas waktu dimulainya pandemi adalah 1 April 2020. Data pengembalian adalah pengembalian mingguan. Hasilnya menunjukkan bahwa sebelum pandemi, GJR-GARCH(1,1) dapat memetakan dan melacak volatilitas dengan sangat baik karena mencetak AIC dan SIC pra-pandemi terendah. Oleh karena itu, penelitian ini menguatkan bukti adanya reaksi asimetris dari partisipasi pasar terhadap kemunculan dan penyebaran berita baik dan buruk di pasar. Setelah pandemi, efek ARCH menjadi kurang jelas. Angka signifikansi menurun meskipun efek ARCH masih signifikan pada 0,15. Performa model ARCH(1) secara signifikan lebih tinggi daripada model lain pasca-pandemi. Hasil tersebut menjadi bukti bahwa pascapandemi ketidakpastian yang dihadapi pelaku pasar sangat tinggi. Hal ini mengakibatkan meningkatnya volatilitas. Model keluarga ARCH menjadi kurang signifikan karena pengembaliannya lebih acak. Analisis lebih lanjut, bagaimanapun, menunjukkan bahwa pengembalian belum mengikuti model random walk meskipun keacakan meningkat. Oleh karena itu, ARCH(1) masih sesuai untuk memodelkan volatilitas setelah Pandemi.   This research aims at modeling the volatility of Indonesian highest paying dividend companies stock index (DIV 20) returns before and after pandemic COVID 19. The ARCH (Autoregressive Conditional Heteroscedasticity) family models were employed in this regard. The research period extended from 18 May 2018 to 18 February 2022. The cutoff for the commencement of pandemic was 1st April 2020. The return data were weekly returns. The results suggested that before pandemic, GJR-GARCH(1,1) could map and trace the volatility very well since it scored the lowest AIC and SIC pre-pandemic. Therefore, this research corroborated the evidence that there existed asymmetric reaction from the market participation toward the emergence and spread of good and bad news in the market. After pandemic, the ARCH effect became less obvious. The significance number was decreasing although the ARCH effect was still significant at 0.15. ARCH(1) model performance was significantly higher than the other models post-pandemic. The result presented evidence that after pandemic the uncertainty facing the market participants was very high. This resulted in the increase of the volatility. The ARCH family model was becoming less significant because the returns were more random. Further analysis, however, showed that the returns did not yet follow the random walk model despite the increasing randomness. Therefore, ARCH(1) was still appropriate to model the volatility after Pandemic.
INFLATION AS A MODERATOR OF FINANCIAL RATIOS AND CAPITAL STRUCTURE IN MANUFACTURING COMPANIES Lasar, Hilary; Jonnardi, Jonnardi
Jurnal Muara Ilmu Ekonomi dan Bisnis Vol. 8 No. 1 (2024): Jurnal Muara Ilmu Ekonomi dan Bisnis
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jmieb.v8i1.28476

Abstract

Penelitian ini bertujuan untuk menganalisa pengaruh rasio keuangan, seperti tangibility, likuiditas, pertumbuhan aset, dan volatilitas laba terhadap struktur modal dengan tingkat inflasi industri sebagai pemoderasi. Objek penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dari tahun 2014 sampai dengan 2019. Jumlah sampel dalam penelitian ini adalah 122 perusahaan yang diperoleh menggunakan purposive sampling. Analisis data penelitian menggunakan uji regresi linier berganda dengan menggunakan E-Views versi 10. Hasil penelitian ini menunjukkan bahwa tangibility, likuiditas, pertumbuhan aset, volatilitas laba dan tingkat inflasi tidak berpengaruh signifikan terhadap struktur modal. Hasil penelitian ini juga menunjukkan tingkat inflasi sebagai pemoderasi memperlemah hubungan likuiditas terhadap struktur modal. Hal tersebut dikarenakan jika terjadi inflasi pada suatu negara, maka akan berdampak pada melemahnya ekonomi suatu negara dan dapat menyebabkan naiknya tingkat suku bunga. Oleh karena itu, perusahaan cenderung menghindari hutang karena tingginya bunga yang harus dibayarkan.   This research aims to analyze the influence of financial ratios, such as tangibility, liquidity, assets growth, and earnings volatility on capital structure with inflation rate as the moderation variable. The research object is manufacturing companies listed on Indonesian Stock Exchange from 2014 to 2019. The number of samples in this research was 122 companies selected with purposive sampling. Data analysis in this research used multiple regression linear analysis processed using E-Views version 10. The result of this research shows that tangibility, liquidity, assets growth, earnings volatility and inflation rate have no significant effect on capital structure. The results of this study also show that the inflation rate as a moderator weakens the relationship between liquidity and capital structure. This is because if inflation occurs in a country, it will have an impact on the weakening of a country's economy and can cause an increase in interest rates. Therefore, companies tend to avoid debt because of the high interest that must be paid.  
Accurate: Penunjang di Era Digitalisasi untuk Meningkatkan Kompetensi dan Profesionalisme Guru dan Murid SMK Debora; Alexander , Nico; K. P. S. Putri, Ariesta Tika; A. T. Lasar, Hilary Flora
TEKIBA : Jurnal Teknologi dan Pengabdian Masyarakat Vol. 2 No. 2 (2022): TEKIBA : Jurnal Teknologi dan Pengabdian Masyarakat
Publisher : Fakultas Teknik, Universitas PGRI Banyuwangi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36526/tekiba.v2i2.2110

Abstract

Abstract - Covid-19 pandemic has brought many changes for education, working life and so on. Digitalization is increasingly felt and forced to change from being face-to-face to online, so inevitably world moves faster to accelerate the use of technology. Technology development also applied in industry, including in terms of accounting records. The importance of debriefing for teachers and students of VHS, especially accounting vocational, related to using Accurate accounting software which has been widely used. This training improves self-competence and competitiveness in the face of digitalization. Therefore, Pusat Penelitian dan Pengabdian Masyarakat TSM in collaboration with TSM lecturers help to provide training for teachers and students to recognize and able to operate one of accounting software that has been widely used, especially by SME industry in Indonesia, namely Accurate. The purpose of this training is to provide briefing to teachers and students in understanding and operating various features in Accurate related to accounting transactions which are expected to improve skills in using this software. The training method includes Accurate introduction session, simulation, journal and financial statements discussion. Targets and outcomes to be achieved from this training are increased the understanding and skills of teachers and students in operating Accurate so the students could meet the requirements of world of work in terms of the use of technology.
ANALISA FAKTOR – FAKTOR YANG MEMENGARUHI FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR DI INDONESIA Syahrani, Yumni; Lasar, Hilary Flora A. T.
E-Jurnal Akuntansi TSM Vol. 5 No. 1 (2025): E-Jurnal Akuntansi TSM
Publisher : Pusat Penelitian dan Pengabdian kepada Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/ejatsm.v5i1.2742

Abstract

This study aims to obtain empirical evidence regarding the influence of leverage, operating capacity, profit margin, ownership concentration, board size, and audit committee as independent variables on financial distress as dependent variables. In this study, the research object was used for manufacturing companies listed on the Indonesia Stock Exchange (IDX) from the period of 2021 to 2023. Sampling in this study uses the purposive sampling method with samples, consisting of 121 manufacturing companies with 363 data that meet 4 specified criteria. This data processing uses SPSS 25. The results of this study show that leverage (DER), ownership concentration (OC), board size (BSIZE), and audit committee (AC) have no effect on financial distress while operating capacity (TATO) and profit margin (NPM) have an effect on financial distress.  
Pengaruh Transfer Pricing dan Karakteristik Perusahaan terhadap Penghindaran Pajak Sutanto, Janice; Lasar, Hilary Flora A. T.
Media Bisnis Vol. 15 No. 2 (2023): Media Bisnis
Publisher : Pusat Penelitian dan Pengabdian kepada Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/mb.v15i2.1966

Abstract

Penelitian ini bertujuan untuk memperoleh bukti secara empiris mengenai pengaruh transfer pricing, leverage, profitabilitas, pertumbuhan penjualan, intensitas modal, ukuran perusahaan dan konservatisme akuntansi terhadap penghindaran pajak. Terdapat 4 variabel pada penelitian sebelumnya yaitu transfer pricing, leverage, profitabilitas dan ukuran perusahaan. Penelitian ini menambahkan variabel independen intensitas modal, ukuran perusahaan dan konservatisme akuntansi. Objek penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) pada tahun 2019-2021. Sampel diperoleh dengan menggunakan purposive sampling method dengan menetapkan enam kriteria sampel yang akhirnya memperoleh jumlah perusahaan sebanyak 41 perusahaan manufaktur, sehingga didapatkan 123 data yang digunakan sebagai sampel penelitian. Penelitian ini menggunakan model regresi berganda untuk menguji pengaruh dari masing-masing variable. Hasil dari penelitian menunjukkan bahwa leverage, profitabilitas dan ukuran perusahaan berpengaruh terhadap penghindaran pajak. Sedangkan transfer pricing, pertumbuhan penjualan, intensitas modal dan konservatisme akuntansi tidak berpengaruh terhadap penghindaran pajak.
Pengaruh Eksistensi Dewan Komisaris Wanita dan Faktor lainnya terhadap Nilai Perusahaan Ignacio, Rafael; Lasar, Hilary Flora A T
Media Bisnis Vol. 16 No. 1 (2024): Media Bisnis
Publisher : Pusat Penelitian dan Pengabdian kepada Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/mb.v16i1.2438

Abstract

Firm value dictates the value of stock price that a company owns thereby, firm value is a crucial thing. The purpose of this study was to obtain empirical evidence regarding the effect of several independent variables on one dependent variable. The dependent variable used in this study is firm value. This study also has independent variables consisting of institutional ownership, managerial ownership, the proportion of independent commissioners, the size of the board of commissioners, the existence of female commissioners, the size of the board of directors, audit committee, profitability, and capital structure. The population used in this study are consumer non cyclicals and consumer cyclicals companies listed on the Indonesia Stock Exchange starting from 2020 to 2022. This population was studied using the purposive sampling method, and got a total of 73 companies that will be used as research samples with a total of 219 data. The results of this study indicate that the proportion of independent commissioners and profitability variable has a positive influence on firm value. On the other hand, the variables of institutional ownership, managerial ownership, the size of the board of commissioners, the existence of a female board of commissioners, the size of the board of directors, audit committee, and capital structure have no effect on firm value.
Pengaruh Kebijakan Dividen, Keputusan Investasi, Dan Faktor Lainnya Terhadap Nilai Perusahaan Jonathan, Natalie; Lasar, Hilary Flora A. T.
Media Bisnis Vol. 17 No. 1 (2025): Media Bisnis
Publisher : Pusat Penelitian dan Pengabdian kepada Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/mb.v17i1.2741

Abstract

The purpose of this study is to examine the influence of firm value on variables including dividend payout ratio, asset growth, debt to assets ratio, return on assets, current ratio, managerial ownership, dan institutional ownership in manufacturing companies listed on the IDX for the 2020-2023 period. A sample of 44 companies with 132 observations was selected using purposive sampling dan analyzed using multiple linear regression. The findings indicate that debt to assets ratio dan return on assets have a positive impact on firm value, while the other variables show no significant effect.
PENGARUH KONSERVATISME, KOMPENSASI MANAJEMEN, DAN FAKTOR LAINNYA TERHADAP PENGHINDARAN PAJAK YESHINTA CHAMAS; HILARY FLORA A. T. LASAR
E-Jurnal Manajemen Trisakti School of Management (TSM) Vol. 6 No. 1 (2026): E-Jurnal Manajemen Trisakti School of Management (TSM)
Publisher : Pusat Penelitian dan Pengabdian kepada Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/ejmtsm.v6i1.3441

Abstract

This research examines the determinants of corporate tax avoidance by analyzing the roles of leverage, profitability, independent board of commissioners, audit committee, capital intensity, firm size, accounting conservatism, and management compensation. The study focuses on 110 manufacturing companies listed on the Indonesia Stock Exchange during the 2022 to 2024 observation period. Sample selection was conducted using a purposive sampling approach. Secondary data were analyzed using multiple linear regression techniques. The findings reveal that profitability, audit committee, and firm size show a significant impact on corporate tax avoidance. In contrast, leverage, independent board of commissioners, capital intensity, accounting conservatism, and management compensation do not significantly influence tax avoidance practices.
Pengaruh Ukuran Dewan, Karakter Eksekutif dan Faktor Lainnya terhadap Penghindaran Pajak Cindy Junisaviolika Hernandi; Hilary Flora A. T. Lasar
Media Bisnis Vol. 17 No. 2 (2025): Media Bisnis
Publisher : Pusat Penelitian dan Pengabdian kepada Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/mb.v17i2.3083

Abstract

The purpose of this study is to analyze factors that can influence tax avoidance in manufacturing companies. This study uses seven independent variables: CEO narcissism, board of commissioners size, female directors, financial distress, company size, return on assets, and executive character. The sample used in this study consists of 217 sample data from 74 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period from 2021 to 2023. The method used in this study is purposive sampling. To analyze the data, this study uses multiple regression. This study found that the independent variable of financial distress has a positive effect and return on assets (ROA) has a negative effect on tax avoidance. While CEO narcissism, board size, female directors, company size and executive character do not affect tax avoidance.
Co-Authors ALEXANDER, NICO Ariesta Tika Kinanti Pangestu Sulistyo Putri Cindy Junisaviolika Hernandi Debora Ignacio, Rafael Jonathan, Natalie Jonnardi, Jonnardi Regi Muzio Ponziani Sutanto, Janice Syahrani, Yumni YESHINTA CHAMAS