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All Journal Syntax Literate: Jurnal Ilmiah Indonesia Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan Wiga : Jurnal Penelitian Ilmu Ekonomi Jurnal Indonesia Sosial Teknologi Jurnal Manajemen dan Usahawan Indonesia
Gandakusuma, Imo
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Humanities Computer Science & IT Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Analisis Pengaruh Penerapan Kebijakan Tax Amnesty Pada Abnormal Return Saham LQ-45 Periode Tahun 2015-2019 Winarto, Dellachita Rahardianne; Gandakusuma, Imo
Jurnal Manajemen dan Usahawan Indonesia Vol. 43, No. 2
Publisher : UI Scholars Hub

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Abstract

The purpose of this study was to analyze the effect of Tax Amnesty Policy on differences in abnormal return of LQ-45 shares in the period 2015 to 2019. The stock price data was secondary data downloaded from adjusted closed stock price of 30 companies listed as LQ-45 in all observation period from web. The test conducted by Paired Sample t-test to see the significance of differences in abnormal returns and average abnormal returns of shares in the observation period. The results of the test above showed no difference in abnormal returns of the stocks in the period before, during and after the Tax Amnesty held. For the event window before Tax Amnesty implementation, there is no different as well. Meanwhile, the paired sample t-test for event window after the implementation showed a different result. Future study to be conducted by expanding the scope of sample and its independent variables.
Pengaruh Kinerja dan Ukuran Perusahaan Terhadap Stock Return pada Perusahaan Sektor Energi dan Pertambangan Periode 2012-2019 Habeahan, Edwin; Gandakusuma, Imo
Jurnal Manajemen dan Usahawan Indonesia Vol. 44, No. 1
Publisher : UI Scholars Hub

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With the increasing awareness of the importance of investment in Indonesian society, particularly in recent years, the number of investors investing in the Indonesian stock market has grown rapidly. This study aims to test whether there is an influence between company performance and company size on stock returns. This research is also to provide a financial assessment to attract investors to develop business in Indonesia, especially in the mining and energy sectors. The sample used is companies en- gaged in the mining and energy sector listed on the Indonesia Stock Exchange from 2012 to 2019 with a sample size of 39 companies. In addition, according to previous research conducted in several other countries, stock returns can be influenced by various factors such as company profitability, company size, risk, dividends, interest rates, supply, demand, inflation, government policies, and the economic situation. From the results of this study, it was found that not all of the tested financial factors had an effect on stock returns, in development classification companies that had a significant effect on stock returns only Earning per Share (EPS) and Market to Book Value Ratio, while other ratios did not significantly affect stock return with a significant level of α = 5%.
Analisis Pengaruh Corporate Governance dan Risk Management Committee Terhadap Financial Performance Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2016-2020 Tasya, Dhea Saummi; Gandakusuma, Imo
Jurnal Manajemen dan Usahawan Indonesia Vol. 45, No. 1
Publisher : UI Scholars Hub

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The aim of this study is to analyze the effect of corporate governance and risk management committee of manufacturing firms at the Indonesia Stock Exchange in 2016 – 2020. In 2016-2020, manufacturing companies were the highest contributors to national income, and financial performance fluctuated. Manufacturing companies do not yet have specific regulations governing corporate governance mechanisms, so this research is needed. The results of this study find that the existence of a risk management committee has insignificant on financial performance. The auditor reputation and the independence of the audit committee has insignificant on financial performance through the existence of a risk management committee. The size of the board of commissioners, the frequency of board meetings, and the risk of financial reporting has positively significant on financial performance through the existence of a risk management committee.
Analisis Pengaruh Risiko Kredit, Risiko Likuiditas, serta Risiko Operasional Terhadap Kinerja Perbankan: Studi Kasus pada Bank Umum Konvensional yang Terdaftar di Bursa Efek Indonesia Periode 2016-2020 Yunike, Jihan; Gandakusuma, Imo
Jurnal Manajemen dan Usahawan Indonesia Vol. 46, No. 1
Publisher : UI Scholars Hub

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Researchers conducted research on banks in Indonesia to assess the effect of credit risk, liquidity risk, and operational risk on banking financial performance. Data is obtained from the IDX website and banks from 38 conventional commercial banks that met the criteria for the 2016-2020 period. Researchers used the fixed-effect model (FEM) to analyze the results of this study.The results of this study indicate that credit and operational risks have a significant effect on the company's financial performance. On the other hand, liquidity risk has an insignificant effect on the company's financial performance. The results can be used by the company's management team as a reference in making decisions related to risk management, especially credit risk, liquidity risk, and operational risk in banking. After studying this research, it is hoped that the management team will have an overview of the effects of these risks on banking financial performance. Credit, liquidity and operational risks are considered the most important risks in financial institutions. This research is the second research that examines the effect of these risks on the banking industry; however, this research focuses on banks in Indonesia.
Peran Pendidikan CEO, Keberagaman Gender , dan Dimensi Keuangan Perusahaan Terhadap Pengungkapan CSR Sektor Manufaktur di Indonesia Dwimartha, Fanindya; Pramesti, Muthia; Sulung, Liyu Adhi Kasari; Gandakusuma, Imo
Jurnal Manajemen dan Usahawan Indonesia Vol. 46, No. 1
Publisher : UI Scholars Hub

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This study aims to analyze the effect CEO education, board gender diversity, and firm’s financial dimension on CSR disclosure. The sample used in study includes 22 publicly listed manufacturing firms in the Indonesia Stock Exchange that disclosed their ESG scores during the period of 2015 until 2019. This research used panel data which was later run using fixed effects model data. The result explains that both firm size and CEO education positively impact CSR disclosure at manufacturing firms and the impact is significant.
Faktor-faktor yang mempengaruhi rasio pembayaran dividen pada perusahaan FMCG (Fast Moving Consumer Goods 2016-2020) Kurniawan, Aditya; Gandakusuma, Imo
Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan Vol. 5 No. 1 (2022): Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan
Publisher : Departement Of Accounting, Indonesian Cooperative Institute, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (292.44 KB) | DOI: 10.32670/fairvalue.v5i1.2225

Abstract

The distribution of company profits to shareholders on invested capital through dividends, previous profits, or buying back shares. One of the provisions reviewed in this meeting is the provision regarding the determination or not of dividends or what is better known as dividend policy (policy). The purpose of this study was to determine the effect of ownership structure and cash flow on the dividend payout ratio of the FMCG industry listed on the Indonesia Stock Exchange (IDX). This research was conducted using panel regression analysis with a random effects approach. This study uses secondary data obtained from the quarterly reports of Fast Moving Consumer Good companies listed on the Indonesia Stock Exchange (IDX) for 5 years from 2016 – 2020 using a purposive sample. The results of the panel data regression test show that the institutional ownership variable has a significant effect on the dividend payout ratio. Variable operating cash flow (OCF) and free cash flow (FCF) each partially has a significant effect on the dividend payout ratio. This research is expected to provide an additional reference in deciding how the dividend level to be given (dividend payout ratio) and to identify aspects that can affect the dividend payout ratio, investors who want a dividend return can be more careful in selecting the company where they want to invest their money. demanded. The company (practitioner / financial manager) continues to prioritize good governance in carrying out its business activities. This is so that there is no conflict (agency problem) between management and shareholders because this conflict will be detrimental in the future. . Investors should also explore what rights they have as shareholders and the regulations that protect these rights
Analysis of Factors Affecting the Potential Bankruptcy of Construction Companies Before and During Covid-19 Alamajibuwono, Hadha; Gandakusuma, Imo
Wiga : Jurnal Penelitian Ilmu Ekonomi Vol. 14 No. 1 (2024): March 2024
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/wiga.v14i1.1123

Abstract

Every company has goals to achieve, including construction companies. However, a problem that cannot be avoided in every company is bankruptcy. This study aimed to determine differences in the financial distress of construction companies before and during the COVID-19 pandemic and whether financial and macroeconomic factors affected financial distress before and during the COVID-19 pandemic crisis. The population in this research is all construction companies on the Indonesian Stock Exchange. The sampling technique used was purposive sampling. The samples obtained were 25 construction sector companies on the Indonesia Stock Exchange during 2017-2022. The research method uses a panel data regression model involving company financial and macroeconomic factors on the financial distress of companies as measured by the bankruptcy model Altman (1968) and Ohlson (1980). The study's results confirmed no differences between Z-scores and O-scores before and during the Covid-19 pandemic. However, there were differences in construction companies' Z-score and O-score patterns before and during the Covid-19 pandemic. In addition, it was also found that before and during the Covid-19 pandemic crisis, only the company's financial factors affected the Z-score and O-score model.
Evaluation and Re-Estimation of Bankruptcy Prediction Models in Facing The Crisis Period in Indonesia (2017-2022) Lubis, Mentari M.; Gandakusuma, Imo
Syntax Literate Jurnal Ilmiah Indonesia
Publisher : Syntax Corporation

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36418/syntax-literate.v9i3.14760

Abstract

This research was conducted to see how suitable the existing bankruptcy prediction models that have been used in other countries to be used during the crisis in Indonesia. The data used in research are companies in Indonesia registered in the Indonesia Stock Exchange (IDX). The re-estimate of the coefficient of variables models is carried out and then the bankruptcy prediction of the re-estimation model is re-calculated. The results of the bankruptcy prediction of the re-estimate model are then compared with the results of the bankruptcy prediction of the original model to see whether the model can be used during the crisis in Indonesia. The results of the study is that Springate original model is the most suitable model for the conditions in Indonesia during the crisis caused by the COVID-19 pandemic. The Springate model has the highest financial distress prediction accuracy, while the Altman Emerging Market model produces the highest Error Type I.
Analysis Of Company Bankruptcy Potential During The Covid-19 Pandemic: A Study Of The Transportation And Health Sector In Indonesia In 2020-2021 Selostannu Rizki, Muhammad Bilal; Gandakusuma, Imo
Jurnal Indonesia Sosial Teknologi Vol. 4 No. 8 (2023): Jurnal Indonesia Sosial Teknologi
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jist.v4i8.666

Abstract

The Covid-19 pandemic that occurred has damaged the economy of Indonesia and even the world. This poses a threat to companies in various sectors. Thus, this study aims to examine the role of financial ratios (current ratio, debt to asset ratio, return on assets, total asset turnover, sales growth) and macroeconomic factors (lending rate) in predicting potential bankruptcy conditions in transportation and health companies in Indonesia during the Covid-19 pandemic. The study was conducted with the Altman Z-Score of developing countries measured by the panel data regression method. The data used in this study were secondary data obtained from the Thomson-Reuter data stream. The population of this study is companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2021 period with a sample of 69 companies. Based on the results of the research, it was found that the factors of the current ratio, debt-to-asset ratio, and sales growth have a significant effect on the potential bankruptcy of the company. This research is limited by relevant data and time during the Covid-19 pandemic.
Co-Authors Aditya Kurniawan Alamajibuwono, Hadha Dwimartha, Fanindya Habeahan, Edwin Lubis, Mentari M. Muthia Pramesti, Muthia Selostannu Rizki, Muhammad Bilal Sulung, Liyu Adhi KAsari Tasya, Dhea Saummi Winarto, Dellachita Rahardianne Yunike, Jihan