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All Journal Sang Pencerah: Jurnal Ilmiah Universitas Muhammadiyah Buton Dinasti International Journal of Economics, Finance & Accounting (DIJEFA)
Tjen, Yoel Christopher
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Humanities Economics, Econometrics & Finance Education Social Sciences Other

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Analisis Yuridis Implementasi Prinsip Hukum Terhadap Pembuktian Pasal 19 Huruf C UU Persaingan Usaha Pada Putusan Komisi Pengawas Persaingan Usaha Nomor 15/KPPU-I/2022 Tjen, Yoel Christopher; Wiwik Sri Widiarty; Andrew Betlehn
Sang Pencerah: Jurnal Ilmiah Universitas Muhammadiyah Buton Vol. 10 No. 3 (2024): Sang Pencerah: Jurnal Ilmiah Universitas Muhammadiyah Buton
Publisher : Lembaga Jurnal dan Publikasi Universitas Muhammadiyah Buton

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35326/pencerah.v10i3.5294

Abstract

Kasus kelangkaan minyak goreng nasional yang berlangsung selama periode 2021-2022 telah menimbulkan sejumlah permasalahan hukum, khususnya yang menyangkut di bidang hukum persaingan usaha. Metode penelitian ini menerapkan metode yuridis normatif. Penelitian hukum yang menggunakan pendekatan yuridis normatif dalam penulisan hukum berfokus pada analisis penerapan prinsip-prinsip atau norma-norma yang terdapat dalam hukum positif. Hasil penelitian menunjukan bahwa Majelis Komisi memiliki keleluasaan untuk menentukan pendekatan dan teknik perhitungan yang dianggap paling sesuai menurut pertimbangannya, untuk kemudian digunakan dalam menentukan apakah pelaku usaha atau Terlapor dianggap telah melanggar Pasal 19 huruf c UU Persaingan Usaha. Dalam penyelesaian perkara ini, Majelis Komisi melakukan analisis sendiri dengan mengumpulkan dan memproses data dari Terlapor I hingga Terlapor XXVII. Majelis Komisi menggunakan metode perhitungan berupa: pertama, membandingkan rasio total volume produksi minyak goreng kemasan sederhana dan premium dengan volume pembelian CPO pada periode tempus dan non-tempus; kedua, membandingkan persentase perubahan pembelian CPO pada periode tempus dan non-tempus dengan persentase perubahan volume produksi minyak goreng kemasan premium dan sederhana pada periode yang sama.
Determinants of Stock Return: Financial, Behavioral, Macroeconomic, and ESG Factors with DER as Moderator Tjen, Yoel Christopher; Usman, Bahtiar; Mustafa, Matroji
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 5 (2025): Dinasti International Journal of Economics, Finance & Accounting (November - De
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i5.5306

Abstract

This study investigates the determinants of stock returns using a panel dataset of 88 companies listed in the Kompas100 Index over the 2018–2022 period. Employing a Random Effects Model, the research incorporates financial variables, macroeconomic indicators, behavioral factors, ESG performance, and the moderating effect of the Debt-to-Equity Ratio (DER). The findings reveal that WACC, overconfidence, overreaction, ESG disclosure, and Price Sales ratio (PSR) significantly affect stock returns at the 10% level. Specifically, WACC and PSR exhibit a positive influence, while overconfidence, overreaction, and ESG disclosure have negative effects. In addition, the interaction term of DER with PSR positively influences stock returns, while its interaction with PBV shows a negative effect. Other variables such as ROA, ROE, PER, PBV, exchange rate, and interest rate were found to be statistically insignificant. The study demonstrates the importance of integrating behavioral and ESG factors along with capital structure considerations to better understand stock performance in the Indonesian capital market.
Co-Authors Andrew Betlehn Bahtiar Usman, Bahtiar Mustafa, Matroji Wiwik Sri Widiarty