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Stock Price Volatility: An Efficiency Test of The Indonesian Stock Exchange In Semi-Strong Form Mukhsin, Muhammad; Sukarno, Hari; Paramui, Hadi
Wiga : Jurnal Penelitian Ilmu Ekonomi Vol. 14 No. 2 (2024): September 2024
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/wiga.v14i2.1307

Abstract

An efficient capital market is a concept in which stock prices reflect all available public information. However, the level of market efficiency varies in different countries, including Indonesia. This study aims to test semi-strong market efficiency on the Indonesia Stock Exchange (IDX) by analyzing the effect of financial and macroeconomic variables on stock prices. The study population includes all companies listed on the IDX in the 2018-2022 period. The sample was selected using purposive sampling method based on certain criteria namely issuers belonging to the primary and non-primary consumer goods sector, with a total of 174 issuers. Independent variables in this study include CR, DER, ROE, PER, Firm Size, DPR, CSR, inflation, exchange rate, and BI Rate. The dependent variable is stock price. The factor analysis method was used to reduce the independent variables into three factors: financial efficiency, corporate dimensions, and corporate external factors. Multiple regression analysis was then applied to test the effect of these three factors on stock prices. The results showed that financial efficiency factors and external factors did not have a significant influence on stock prices. However, the firm dimension factor is proven to have a significant influence on stock prices.
Factors Determining Stock Prices: Financial Performance Perspectives and Management Strategy Mukhsin, Muhammad; Lukiana, Ninik; Prasetyo, Aji
International Journal of Accounting and Management Research Vol. 6 No. 1 (2025): March 2025
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/ijamr.v6i1.1572

Abstract

The purpose of this research is to investigate the extent to which financial indicators and managerial policies affect stock valuations among consumer goods sector firms listed on the Indonesia Stock Exchange (IDX) over the 2018 to 2022 period. The variables analyzed include Debt to Equity Ratio (DER), Return on Equity (ROE), Current Ratio (CR), Price to Earnings Ratio (PER), Firm Size, and Dividend Payout Ratio (DPR). This study uses multiple linear regression methods to test the relationships between variables. The results showed that DER, ROE, Firm Size, and DPR had a significant effect on stock prices, while CR and PER had no significant effect. In theory, variables such as ROE and firm size reflect the company's managerial performance and stability, which are the main considerations for investors. The practical implications of this study provide guidance for investors to focus on these variables in investment decision-making. Meanwhile, companies need to pay attention to their capital structure and dividend policy to attract investor interest and increase the attractiveness of stocks in the market.
Analysis of the Financial Literacy Level of Generation Z College Students and Its Implications for the Use of Paylater in the Context of Economic Education Suyono, Aji Prasetyo; Chandra, Yulian Ade; Mukhsin, Muhammad
Journal of Social Knowledge Education (JSKE) Vol. 6 No. 2 (2025): May
Publisher : Cahaya Ilmu Cendekia Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37251/jske.v6i2.1742

Abstract

Purpose of the study: Describes the extent to which Gen Z students understand financial literacy and how it is applied to the use of PayLater. Methodology: This study uses a qualitative descriptive approach by providing questionnaires to Gen Z students in the cities of Surabaya, Semarang, Malang, Lumajang, and Jember in April 2025. Main Findings: The results show that the literacy level of Gen Z students is in the medium category. Then, the implication of this literacy level is that many respondents think that the use of paylater tends to influence shopping habits and can also influence lifestyle. Apart from that, regarding perceptions of paylater services as a whole, most respondents tend to choose neutral perceptions rather than positive or negative perceptions. Thus, there needs to be education through formal education, public campaigns, and easy access to financial information for students so that there is a balance between thinking ability and action in terms of financial management. Novelty/Originality of this study: This study develops and expands the theory of financial literacy with Gen Z students as the object of research.