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Journal : IMAGE

Analisis Komparasi Metode CAPM dan APT dalam Memprediksi Return Saham LQ45 2019-2021 Hartono, Pierdijono; Nugraha, Nugraha; Heryana, Toni; Medidjati, R. Adam
Image : Jurnal Riset Manajemen Vol 11, No 2 (2023): Image : Jurnal Riset Manajemen
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/image.2023.020

Abstract

The investment climate is developing rapidly in Indonesia, many people are interested in investing, and the capital market is a common and legal place to invest. In investing, stocks are one of the long-term financial instruments traded on the capital market. The goal of investors in stock investment is to obtain the maximum stock return with a certain risk. Financial experts have developed two approaches to predict return on investment based on risk and use certain macroeconomic variables, the Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT). This study aims to determine the best model between the CAPM and APT in determining the expected return on shares of companies that are members of the IDX LQ45 for the period 2019-2021. Data is processed using Unbalance Data Panel Analysis with the Eviews application. The results of data processing show that the CAPM method is more precise or accurate than the APT method.
Keragaman Gender di Dewan Komisaris dan Risiko Perusahaan: Perspektif Teori Agensi Perilaku Medidjati, R Adam; Nugraha, Nugraha; Heryana, Toni; Hartono, Pierdijono
Image : Jurnal Riset Manajemen Vol 11, No 2 (2023): Image : Jurnal Riset Manajemen
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/image.2023.014

Abstract

The purpose of this study is to verify the influence of gender diversity in the Board of Commissioners on the financial risks of the company from the perspective of behavioral agency theory, where the presence of gender diversity in the board of commissioners can improve the ability of the board of commissioners to manage company risks. However, there is also the possibility that gender diversity on the board of commissioners may increase the company's risk. This can happen if there is a conflict between members of the board of commissioners of different genders, thereby disrupting the smooth decision-making process. The company's financial risk indicators measured in this study are Debt to Equity Ratio (DER) and Debt to Asset Ratio (DAR). This research study was conducted on companies incorporated in LQ45 with a research period from 2015 to 2020 as many as 51 companies. This study was conducted using secondary data and the data was processed using unbalanced panel data regression with the help of the EVIEWS 12 application. The results of this study show that gender diversity in the Board of Commissioners has a significant effect on DAR where an increase in the composition of the number of men will reduce DAR by -0.53 this means that gender diversity will increase the company's risk in DAR indicators. But on the contrary, this gender diversity does not have a significant effect on DER.