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Comparative Analysis of Herding Behavior in Indonesia, Malaysia, and Singapore Ramadhansyah, Adji; Rokhmawati, Andewi; Fitri, Fitri; Yafiz, Ifa A
International Journal of Economic, Business & Applications Vol. 5 No. 2 (2020): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.50

Abstract

Herding Behavior is an investor bias that affects stock market price. Stock market is one of the factors that can influence economic condition in a country. This research examine the phenomenon of herding behavior in Indonesia, Malaysia, and Singapore from 2016 to 2019. This research used secondary data, stocks return and market return, and transformed it into Cross Sectional Absolute Deviation (CSAD) to test the dispersion level of stock return to find herding behavior indication using quantile regression. This research also comparing herding behavior between Indonesia and other two countries using independent sample t test. Result showed that in all countries there were no indication of herding behavior in all kind of market condition. This research also found the difference of herding behavior between Indonesia and other countries.
The Effect of Diversification and Funding Decisions on Company Performance and Corporate Value with Good Corporate Governance (GCG) as Moderated Variable Suchandiko, Elmayola; Efni, Yulia; Rokhmawati, Andewi
International Journal of Economic, Business & Applications Vol. 6 No. 1 (2021): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.57

Abstract

This study aims to analyze the effects of diversification and funding decisions on company performance and value of companies with Good Corporate Governance (GCG) as a moderating variable in an industrial manufacturing company listed on the Stock Exchange (IDX) in 2013-2017. Sampling method using purposive sampling techniques and accounting 41 manufacturing industry companies. Samples were analyzed by using PLS. The results of this study indicated that diversification has no significant significant effect on firm value. Funding decisions have a significant effect on the value of the company. The company's performance significantly influences the value of the company. The funding decision has a significant influence on the company's value through indirect. Diversification has a significant influence on the company's value through indirect. GCG has no significant effect in moderating the influence of funding decisions on firm value. GCG has a significant effect in moderating the effect of diversification on firm value.Keywords: Diversification, Financial Decision, Financial Performance, Firm Value, Good Corporate Governance
The Effect of Return on Assets, Firm Size and Risk Management on Firm Value with Good Corporate Governance as a Mediation Variable (Empirical Study of Sharia Commercial Banks 2015-2019) Sari, Eka Purnama; Rokhmawati, Andewi; Halim, Edyanus H
International Journal of Economic, Business & Applications Vol. 6 No. 1 (2021): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.59

Abstract

The implementation of Good Corporate Governance aims to create added value for all interested parties through improved management performance to increase corporate value and encourage the creation of an efficient, transparent, and following statutory regulations. The research objectives in conducting this research are to analyze and determine the Return on Assets, Company Size, Risk Management, and Good Corporate Governance, which affect the Company's Value through Good Corporate Governance. The results of this study found that return on assets has a significant positive effect on good corporate governance, firm size has a significant positive effect on good corporate governance, risk management has a significant positive effect on good corporate governance, good corporate governance has a significant positive effect on firm value, return on assets has a significant positive effect on firm value. significant positive effect on firm value, firm size has a significant positive effect on firm value, risk management has a significant positive effect on firm value.
The Effect Of Good Corporate Governance, Intellectual Capital, And Leverage On Firm Value With Profitability As Mediation Variable (Study On Registered Non-Financial Badan Usaha Milik Negara On The Indonesia Stock Exchange For The 2014-2019 Period) Putri, Fauziah Israyani; Rokhmawati, Andewi; Haryetti, Haryetti; Rahmayanti, Elvi
International Journal of Economic, Business & Applications Vol. 6 No. 2 (2021): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.62

Abstract

This study aims to examine the effect of good corporate governance, intellectual capital, and leverage on firm value with profitability as mediation variable. The population of this research was non-financial BUMN firms listed on Indonesia Stock Exchange (IDX) in 2014-2019. The sample was determined with the purposive sampling method. That obtained 18 firms as the sample. The type of data in this research was secondary data obtained from IDX. The analytical method used was Multiple Regression and Mediation Analysis, Using SPSS Software to Process data. The results of this study concluded: GCG does not significantly influence the firm value. On the other hand, Intellectual Capital, Leverage, and Profitability significantly influence the firm value. GCG does not significantly influence Profitability. Intellectual Capital and Leverage significantly influence Profitability. Profitability cannot mediate the effect of GCG and Intellectual Capital on firm value. Meanwhile, Profitability can mediate the effect of Leverage on firm value.
“More Valuable?” Portfolio Mix: Islamic Social Responsibility Stock (Case Study On Sri-Kehati Stock Index And Indonesian Sharia Stock Index) Wahyuni, Herwinda Asri; Rokhmawati, Andewi; Fathoni, Ahmad Fauzan; Yafiz, Ifa Adina
International Journal of Economic, Business & Applications Vol. 6 No. 2 (2021): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.64

Abstract

This research was conducted to analyze the optimal portfolio formation using the Single Index Model method by combining stocks included in the SRI-Kehati Index and listed on the Indonesian Sharia Stock Index (ISSI) with the aim of survival and applying sharia principles then measuring optimal portfolio performance using Sharpe Index, Treynor Index, and Jansen Alpha Index. The object of research used is stocks that are consistently included in the Sri Kehati Index and ISSI for the period December 2018 - December 2019. The results of this study show that the optimal portfolio formed has a higher return compared to the benchmark (IHSG) which is 1.99%, meanwhile, the standard deviation of the portfolio or it can be interpreted as portfolio risk is 1.1%. In performance appraisal, in addition to the Jensen Index, the optimal portfolio formed has better performance than the IHSG.
The Effect Of Financial Ratio and Macroeconomic On Financial Distress On Property, Real Estate And Building Construction Companies Listed On The Indonesian Stock Exchange 2015-2019 Nadia, Dwi Ajeng; Rokhmawati, Andewi; Fitri, Fitri
International Journal of Economic, Business & Applications Vol. 7 No. 1 (2022): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.72

Abstract

This study aims to examine the effect of financial ratios and macroeconomic on financial distress. Financial ratios are assessed using the ROE, DER, CR, SG, CFFO proxies and macroeconomic proxies are inflation, exchange rates, BI rate, GDP and financial distress measured by the springate model. The data used in this study is secondary data in the form of annual reports from 2015-2019 obtained from the Indonesian Stock Exchange website or www.idx.co.id and Bank Indonesia or www.bi.go.id and the Central Bureau of Statistics or www.bps.go.id. The population in this study amounted to 53 property, real estate and building construction companies listed on the Indonesian Stock Exchange with a sampling technique using purposive sampling obtained as many as 40 companies. Hypothesis testing in this study used logistic regression analysis with the help of the SPSS application. The results obtained indicate that ROE, CR, SG, CFFO, Inflation has a significant negative effect on financial distress. DER, BI rate, exchange rate have a significant positive effect on financial distress. While, GDP has no significant effect on financial distress.
THE EFFECT OF FIRM SIZE AND LEVERAGE ON FINANCIAL PERFORMANCE WITH GOOD CORPORATE GOVERNANCE AS A MODERATING VARIABLE (STUDY ON INFRASTRUCTURE, UTILITIES, AND TRANSPORTATION SECTOR SERVICE COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE IN 2018-2020) Putri, Reya Armelia; Rokhmawati, Andewi; Fitri, Fitri
International Journal of Economic, Business & Applications Vol. 7 No. 2 (2022): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.76

Abstract

This study aims to examine the effect of firm size and leverage on the company's financial performance, with good corporate governance as a moderating variable. The population in this study are service companies in the infrastructure, utilities, and transportation sectors listed on the Indonesia Stock Exchange (IDX) during the 2018–2020 period, totaling 55 companies. The research method used in the study aims to test the effect of variables through hypothesis testing using quantitative data. This study uses secondary data obtained from the website www.idx.co.id and the company's annual report. The sample selection used a purposive sampling method with 165 data points from 55 companies in each period. This study uses structural equation modeling-partial least squares (SEM-PLS) to analyze the data. The results show that firm size positively and significantly affects the company's financial performance. The leverage variable has a negative and insignificant effect on the company's financial performance. Good corporate governance, as a moderating variable, negatively strengthens the relationship between firm size and the company's financial performance. Furthermore, as a moderating variable, the good corporate governance variable does not influence the moderating leverage relationship on the company's financial performance. LN total assets measure firm size; leverage is measured by the debt-to-equity ratio (DER); return measures financial performance on assets (ROA); and good corporate governance is measured using independent commissioners.
The effect of liquidity and leverage on financial distress with good corporate governanceas a moderating variable in the manufacturing sector on the Indonesian Stock Exchange Aisyah, Siti; Rokhmawati, Andewi; Fitri, Fitri
International Journal of Economic, Business & Applications Vol. 8 No. 2 (2023): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.88

Abstract

This study aims to determine the effect of liquidity and leverage on financial distress with good corporate governance as a moderating variable. This type of research is quantitative research. This study includes all manufacturing companies. By using purposive sampling, this study consists of 43 companies. The data processing method used was moderating regression analysis. The results showed that liquidity had a significant negative effect on financial distress. At the same time, leverage has a significant positive impact on financial distress. Good Corporate Governance as a moderating variable can strengthen the influence of the dependent variable on the independent variables in this study.
The effect of capital adequacy ratio, loan-to-deposit ratio, non-performing loan, and operational efficiency on the rate of return on assets with allowance for impairment losses as moderating variable in conventional banks listed on the Indonesian stock Khairi, Fachri Randa; Halim, Edyanus Herman; Rokhmawati, Andewi
International Journal of Economic, Business & Applications Vol. 9 No. 1 (2024): International Journal of Economic, Business and Applications
Publisher : Program Pascasarjana, Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.91

Abstract

This study is quantitative research focusing on the effect of specific financial ratios, namely the capital adequacy ratio, loan-to-deposit ratio, non-performing loan, and operating costs on operating income ratio (BOPO), on the return on asset level with impairment loss reserves as moderating variables. The population in this study were conventional banking companies listed on the Indonesia Stock Exchange (IDX) during the 2018-2021 period. A sample of 26 companies was selected using purposive sampling. The data was processed using moderation regression analysis. The results showed that the capital adequacy ratio significantly positively affects return on assets. The loan-to-deposit ratio does not affect the return on assets. Non-performing loans and operating costs of operating income significantly negatively affect the return on assets. Provision for impairment losses as a moderating variable weakens the effect of the capital adequacy ratio variable and operating cost of operating income on return on asset. Impairment loss reserve does not moderate the impact of loan-to-deposit ratio and non-performing loan variables on return on asset.
The Influence of Liquidity and Profitability on Firm Value with Capital Structure as The Intervening (Study on Mining Sector Listed on IDX 2016-2020) Fiqri, Nurul Izzah; Rokhmawati, Andewi; Rahmayanti, Elvi
JURNAL BISNIS STRATEGI Vol 33, No 1 (2024): July
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jbs.33.1.35-43

Abstract

This study aims to determine The Influence of Liquidity and Profitability on Firm Value with Capital Structure as The Intervening that study on the Mining Sector listed on IDX 2016-2020. The population used in this study were all mining sector companies listed on the Indonesia Stock Exchange (IDX) from 2016 to 2020. The population in this study were 52 mining sector companies conducted at the Indonesia Stock Exchange (IDX). The Indonesian Stock Exchange was determined as the research location by considering that the Indonesian Stock Exchange is one of the centres for selling shares of companies that go public in Indonesia. Secondary data which contains dependent and independent variables which were carried out in mining sub-sector manufacturing companies listed on the IDX for the period 2016 –  2020. In this study, the authors used a quantitative method with a descriptive and verification research approach. The technique of taking research samples using purposive sampling technique (8 companies). The results show that liquidity has a significant negative effect on firm value. profitabilityhas a significant negative effect on firm value, liquidity has a significant negative effect on capital structure, profitability has a significant negative effect on capital structure, capital structure has a significant positive effect on firm value, capital structure is unable to mediate the relationship between liquidity and firm value, capital structure is unable to mediate the relationship between profitability and firm value.