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All Journal Jurnal Keuangan dan Perbankan International Journal of Social Science Jurnal Manajemen Jurnal Ekonomi Perusahaan
M. Budi Widiyo Iryanto
Institut Bisnis Dan Informatika Kwik Kian Gie
Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Languange, Linguistic, Communication & Media Medicine & Pharmacology Public Health Social Sciences Other

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MEKANISME BONDING DAN NILAI PERUSAHAAN M. Budi Widiyo Iryanto; Sugeng Wahyudi
Jurnal Keuangan dan Perbankan Vol 14, No 3 (2010): September 2010
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (252.135 KB) | DOI: 10.26905/jkdp.v14i3.979

Abstract

This study aimed to analyze the role of agency costs mediating the relationship between the mechanism ofbonding and the company values, and analyze the role of the corporate environment moderating therelationship between the mechanism of bonding and the value of the company. Industrial sector nonfinancialcompanies listed on the Indonesia Stock Exchange as an object of research for the period 2006-2008. Based on purposive sampling method, it obtained samples of 46 companies or 138 units of analysis.Completion estimated path model approach Partial Least Square (PLS) through Smart PLS software version2.0 M3. The findings of this study are the remuneration as a bonding mechanism had a significant positiveeffect on firm value. Equity agency costs mediated the influence of bonding mechanisms of corporate value,while the agency costs of debt did not mediate the effect of bonding mechanism to value the company. Itmoderated the relationship between corporate environmental and bonding mechanism to value the company.Finally, the study found evidence of practices of public companies control agency problem in Indonesiasupported the integration of contingency theory and agency theory.
EFFECT FAMILY OWNERSHIP ON FINANCIAL PERFORMANCE WITH BUSINESS STRATEGY AS MODERATION AND AGENCY COST AS MEDIATION IN NON-FINANCIAL COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE IN 2016-2018 M. Budi Widiyo Iryanto; Sisilia Devina Permatasari; Abdulah Rakhman
International Journal of Social Science Vol. 1 No. 6: April 2022
Publisher : Bajang Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53625/ijss.v1i6.2138

Abstract

This research aims to analyze some hypotheses provided. First, the effect of family ownership on financial performance. Second, the effect of family ownership on agency cost. Third, the effect of agency cost on financial performance. Forth, the effect of business strategies in moderating the relationship between family ownership and financial performance. Lastly, the effect of agency cost as a moderating variable between family ownership relationships and financial performance. The object of this research is to analyze the non-financial companies listed on the Indonesia Stock Exchange by looking at the Annual Reports in 2016-2018. The sampling method is by using purposive sampling, which obtained 117 of company or 351 units of analysis. Those sample tested by PLS-SEM through Smart PLS Version 3. The results of this research are found in the following sentences. First, family ownership has a direct and having significant positive effect on financial performance. Second, family ownership has a positive but not having significant effect on agency cost. Third, agency cost has a negative and having significant effect on financial performance. Forth, business strategy is moderating the relationship between family ownership and financial performance. Lastly, the indirectly agency cost is not moderating the relationship between family ownership and financial performance
The Comparison of the performance of crypto assets, stocks, bonds, and gold in Indonesia during Covid-19 Pandemic Chandra, Vergo; Iryanto, M. Budi Widiyo
Jurnal Ekonomi Perusahaan Vol. 30 No. 1 (2023): March-August 2023
Publisher : Business and Entrepreneurship Department, Kwik Kian Gie School of Business and Information Technology, Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46806/jep.v30i1.930

Abstract

This study aims to determine whether crypto assets are suitable as an alternative investment when compared to the performance of the LQ 45 stock index, 10-year Indonesian Government Bonds, and Antam's precious metal in the form of gold. The measurement of the performance of an investment is not only seen from the rate of return but also needs to pay attention to the risks to be borne, then the performance measurement is used using the Sharpe, Treynor, and Jensen measurement methods. The three models base their analysis on past rates of return to determine the compensation for the returns obtained for each measure of risk borne. This study used descriptive analysis with case study methods, while hypothesis testing was carried out by nonparametric statistical tests using Kruskal-Wallis H because there were more than two independent variables. The values of the Sharpe Index and Jensen Index show that Bitcoin investment instruments are the highest-performing instruments while the LQ45 stock index is the lowest. The conclusion of this study shows that there is no significant difference between investment performance using the Sharpe method, while in the Treynor and Jensen methods, there are significant differences.
Mediasi Biaya Keagenan pada Pengaruh Kebijakan Utang dan Kebijakan Dividen terhadap Nilai Perusahaan-perusahaan Sektor Barang Konsumen Primer yang Terdaftar dalam Indeks Idxnoncyc Bursa Efek Indonesia Periode 2018-2020 Andesta, Celvin Rama; Iryanto, M. Budi Widiyo
Jurnal Manajemen Vol 12 No 1 (2022): November
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat Institut Bisnis dan Informatika Kwik Kian Gie

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46806/jman.v12i1.977

Abstract

The primary purpose of establishing a company is to maximize its value of the company. In that process, firm value is inseparable from agency problems caused by shareholders' and managers' different interests. Several mechanisms are expected to reduce agency problems, including debt and dividend policies. However, until now, the role of these two policies in solving agency problems is still inconsistent. This study aimed to determine how agency costs mediate debt and dividend policy on firm value. The fundamental theories to solve this research problem are agency and free cash flow theories. The object of this study is to the primary consumer goods sector companies listed on the IDXNONCYC index on the Indonesia Stock Exchange in the 2018-2020 period, with a total final sample of 25 companies or 75 units of analysis. The data analysis technique used in this study is the path coefficient test using SmartPLS 3.2.9. With this technic, the authors analyze the outer model test, inner model test, and the goodness of fit test. The outer model test with bootstrapping outer weights has an invalid indicator, namely the PBV indicator. Therefore this indicator needs to be eliminated. The goodness of fit states that the model is significant but has a weak model. This study found that debt and dividend policy positively affect firm value and negatively affect agency costs. Agency costs have a positive and significant effect on firm value. Agency costs have no mediation effect of debt and dividend policy on firm value.
Pengaruh Remunerasi Direksi terhadap Nilai Perusahaan yang Dimediasi oleh Agency Cost pada Consumer Goods Industry yang Terdaftar di Bursa Efek Indonesia Fany, Nurlia Aisyah; Iryanto, Mas Budi Widiyo
Jurnal Manajemen Vol 13 No 2 (2024): Mei
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat Institut Bisnis dan Informatika Kwik Kian Gie

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46806/jm.v13i2.1094

Abstract

This research aims to determine whether providing compensation to the board of directors can enhance the company's value. The theory utilized in this study is agency theory, which explores the relationship between owners and managers with a separation of power that leads to agency problems. The sample was collected using purposive sampling from companies in the consumer goods industry sector listed on the Indonesia Stock Exchange (BEI) during the period of 2019-2021. A total of 144 samples were examined using SmartPLS 3.0 to test the inner model and specific indirect effects. The structural model evaluation, known as the inner model, comprised tests for the determinant coefficient (R2), path coefficient, and hypothesis testing. The research model yielded an R2 value of 11%, indicating its weakness. The research concludes that compensation has a significant positive influence on company value, compensation has a significant negative impact on agency costs, agency costs have a significant negative effect on company value, and agency costs can mediate the relationship between compensation and company value.
Pengaruh Kebijakan Dividen, Ekuitas, dan Risiko Keuangan terhadap Kinerja Saham dengan Moderasi Sentimen Investor di Sektor Keuangan Angelica, Amelia; Iryanto, M. Budi Widiyo
Jurnal Manajemen Vol 14 No 1 (2024): November 2024 – April 2025
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat Institut Bisnis dan Informatika Kwik Kian Gie

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46806/jm.v14i1.1268

Abstract

Sejak pandemi Covid-19, minat investor saham meningkat, khususnya dari generasi milenial, karena kemudahan registrasi, aplikasi sekuritas online, dan edukasi investasi mahasiswa. Penelitian ini bertujuan mengeksplorasi hubungan antara kebijakan dividen, nilai buku ekuitas, risiko keuangan, dan kinerja saham dengan memperhatikan sentimen investor. Dalam konteks ini, 24 perusahaan sektor keuangan di Bursa Efek Indonesia (BEI) periode 2020-2022 menjadi objek penelitian. Hasilnya menunjukkan bahwa kebijakan dividen perusahaan dan risiko keuangan memberi dampak negatif signifikan pada kinerja saham, sementara nilai buku ekuitas memberi dampak positif namun tidak signifikan. Sentimen investor juga memiliki pengaruh positif pada kinerja saham dan mampu memoderasi pengaruh nilai buku ekuitas. Implikasi praktis dari penelitian ini menekankan pentingnya manajemen perusahaan mempertimbangkan kebijakan dividen dan risiko keuangan serta memahami peran sentimen investor dalam meningkatkan kinerja saham.
Co-Authors Abdulah Rakhman Andesta, Celvin Rama Angelica, Amelia Chandra, Vergo Fany, Nurlia Aisyah Sisilia Devina Permatasari Sugeng Wahyudi, Sugeng