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All Journal Jurnal Bisnis dan Manajemen Jurnal Keuangan dan Perbankan Jurnal Manajemen dan Bisnis Sriwijaya Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal MIX : Jurnal Ilmiah Manajemen CARADDE: Jurnal Pengabdian Kepada Masyarakat Jurnal Riset Akuntansi dan Keuangan Jurnal Riset Manajemen dan Bisnis
Ari Christianti
Universitas Kristen Duta Wacana
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences

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Valuasi Saham dan Pengambilan Keputusan Investasi: Perbandingan Metode Absolute dan Metode Relative Tasya Natalia Pengestika; Ari Christianti
Jurnal Bisnis dan Manajemen Vol 8, No 2 (2021): Jurnal Bisnis dan Manajemen Volume 8 Nomor 2 Tahun 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jbm.v8i2.6127

Abstract

One of the benefits of stock valuation is that it helps investors in making investment decisions. This study aims to compare the intrinsic value of shares using absolute and relative methods. The absolute method used in this study consists of the Dividend Discounted Model (DDM), Discounted Cash Flow (DCF), and Free Cash Flow to Equity (FCFE) while, the relative method consists of Price Earning Ratio (PER), Price to Book Value ( PBV), and Price to Sales (P/S). This study uses four samples of cement sub-sector companies listed on the Indonesia Stock Exchange in 2015-2019. The results based on the measurement of the accuracy of the stock valuation method with Root Mean Squared Error (RMSE) indicate that the DDM approach is the most accurate compared to others. In addition, the results of this study recommend investors sell shares coded INTP because the stock price is included in the overvalued and buy shares coded SMBR, SMGR, and WTON because the stock price is classified as undervalued. However, stock valuation does not fully determine investment success, so investors still have to consider the assumptions of each stock valuation model.
Probability of default as the early warning system for the Indonesian banking sector Ari Christianti
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (556.829 KB) | DOI: 10.26905/jkdp.v23i2.2856

Abstract

Early Warning System for banks is used to predict default risk. This research is to test the probability of defaults with the probability of default in the real condition of banks. The probability of default risk is measured by KMV-Merton Model and the probability of default in the real condition of banks is bank’s performance based on whether there are bank’s actions that cause changes in the bank's financial statements report. This study using banks listed in the Indonesian Stock Exchange (IDX) from 2010-2015. This study analysis probability of default with financial condition based from 4 commercial bank categories and BUKU (Commercial Bank Based on Business Activities) categories. The results of this study are the probability of default with Merton model give a strong signal against the default of bank for one bank only but for banks in BUKU 4 give a strong signal that banks in this category do not default. Since for other banks and for other BUKU categories do not represent the real condition from the probability of default. It can be concluded that the Merton model is not generated sufficient enough model to predict the probability of default since it assumes that the market is in under efficient condition, and it just considers firm-specific risk.JEL Classification: G21, G32, G33DOI: https://doi.org/10.26905/jkdp.v23i2.2856 
DIVERSIFIKASI KREDIT TERHADAP PROFITABILITAS DAN PROBABILITAS KEGAGALAN BANK Ari Christianti
Jurnal Keuangan dan Perbankan Vol 15, No 3 (2011): September 2011
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (287.771 KB) | DOI: 10.26905/jkdp.v15i3.1035

Abstract

Loan diversification in the banking industry was an interesting topic to be studied. Unlike previous research,this study not only examined the effect of loan diversification on profitability but also on the probability ofdefault. Using panel data from banks listed on Indonesia Stock Exchange in 2004-2008 with FEM (fixed effectmodel) approach and weighting: cross section weight procedures, the results supported previous research thata high risk decreased the relationship between the diversification of loan and the profitability. However, therelationship between the diversification of loan and a probability of default decreased even when a high risk.The arguments for explaining this finding was that the probability of default was not an absolute measurementthat described an actual probability of default. In addition, this invention in banking practices related with thewrite-off action that could minimize the credit risk (NPL) so that the probability of default decreased especiallyfor private banks.
Analisis Tingkat Kesehatan Bank (Metode RBBR): Perbandingan Kelompok Bank Umum dan BUKU Vania Yulianti; Ari Christianti
JURNAL MANAJEMEN DAN BISNIS SRIWIJAYA Vol 18, No 3 (2020): Volume 18, Nomor 3, Tahun 2020
Publisher : Program Studi Magister Manajemen FE Unsri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29259/jmbs.v18i3.12928

Abstract

 ABSTRAK Tujuan penelitian – Penelitian ini bertujuan untuk mengukur dan membandingkan tingkat kesehatan bank antara kelompok bank umum dan Bank Umum Berdasarkan Kegiatan Usaha (BUKU). Desain/Metodologi/Pendekatan –Penelitian ini menggunakan metode RBBR (Risk Based Bank Rating) untuk menilai tingkat kesehatan bank dengan menggunakan faktor Risk Profile, Good Corporate Governance, Earnings dan Capital (RGEC)  Temuan – Hasil penelitian menunjukkan bahwa faktor GCG dan faktor Risk Profile menjadi faktor yang paling penting dalam mencapai bank yang sehat. Hal ini terbukti dari bank yang melaksanakan GCG dan manajemen risiko yang baik memiliki kinerja yang baik dan berdampak pada pencapaian kesehatan bank yang baik pula. Keterbatasan penelitian – Penelitian ini memiliki keterbatasan hanya menggunakan satu rasio keuangan untuk masing-masing faktor Risk Profile, Good Corporate Governance, Earnings dan Capital (RGEC). Selain itu, penelitian ini hanya menilai kesehatan bank per faktor, dikarenakan belum ada peringkat komposit gabungan dari semua faktor yang ada dalam RGEC sekaligus. Originality/value – Penelitian ini mencoba untuk membandingkan tingkat kesehatan bank berdasarkan kelompok bank umum dan BUKU untuk mengetahui bank yang memiliki tingkat kesehatan terbaik berdasarkan faktor-faktor yang ada dalam RGEC. Keywords : Risk Profile, Good Corporate Governance, Earnings dan Capital. 
EFFICIENT COMPARISON OF THE TOP 10 LARGEST COMMERCIAL BANKS IN INDONESIA: DEA (DATA ENVELOPMENT ANALYSIS) Ari Christianti
MIX: JURNAL ILMIAH MANAJEMEN Vol 11, No 3 (2021): MIX: Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/mix.2021.v11i3.009

Abstract

Banking efficiency is very important in supporting the success of macro policies specifically, maintaining the sustainability of development that affects economic growth and social welfare. This study discusses the efficiency of commercial banks for the 2015-2019 period using data from the 10 largest commercial banks in Indonesia. The methodology used is non-parametric, Data Envelopment Analysis, to analyze technical efficiency. The results showed that 7 banks had a maximum efficiency level consistently during the study period and there were still 3 banks that did not reach the maximum efficiency but during certain periods or periods. Based on the results of the DEA, inefficient banks in a certain period can achieve maximum efficiency by reducing inputs such as labor costs, net fixed assets, and the number of deposits. This might be attributed that the competition in the banking industry and because not all inputs could be controlled by management, some large banks cannot maintain their level of efficiency consistently.
Pelatihan dan Penilaian Aplikasi Trello Untuk Bimbingan Skripsi Online di Masa Pandemi Covid-19 Ari Christianti
CARADDE: Jurnal Pengabdian Kepada Masyarakat Vol. 3 No. 3 (2021): April
Publisher : Ilin Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31960/caradde.v3i3.814

Abstract

Abstrak. The Covid-19 pandemic influences distance learning and requires lecturers to use learning technology, including undergraduate thesis guidance. The Trello is a free application that can be used for online undergraduate thesis guidance. This application is also applied to the Duta Wacana Christian University in the Management department by providing training and mentoring to undergraduate thesis supervisors. Based on the survey, lecturers were satisfied and interested in using this application for a mentoring undergraduate thesis. Furthermore, the Trello manual module was made to explain the technical instructions for the supervisor's undergraduate thesis. After approximately 3 months after training, a survey was conducted to students about Trello's evaluation. The overall results show that students are satisfied with this application and agree to use the Trello application for undergraduate thesis guidance when the Covid-19 pandemic ends. However, using the application must still require supported learning technology such as zoom or google meet. If the Covid-19 virus period ends, undergraduate thesis guidance with Trello can be done blended.
PENERAPAN BALANCED SCORECARD SEBAGAI PENGUKUR KINERJA MANAJEMEN PADA PT MATAHARI DEPARTMENT STORE TBK Nindy Livia Luciawanty; Ari Christanti
Jurnal Riset Akuntansi dan Keuangan Vol 7, No 1 (2011): Jurnal Riset Akuntansi dan Keuangan
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrak.2011.71.33

Abstract

This study aims to determine the performance of PT. Matahari Department Store using the Balanced Scorecard. This measurement is looking at the business unit from four perspectives: financial, customer, internal business processes, and learning- growth. The analysis showed that: 1) In Financial perspective, which seen from the growth of revenue, ROI (Return onInvestments), and profit margin shows the performance of PT. Matahari Department Store is good; 2) In The customer perspective reflects a good employee performance against customer service with the MCC (Matahari Club Card) card services and VOC (Voice Of Customer) 3) In Internal business perspective from the company's innovation and after sales service, the overall performance of the company's management has shown good results; 4) In Learning and growth perspective about the level of employee satisfaction showed good results by the awards given by companies to employees’s performance through Customer Service All-Star and training to employeesKeywords: balanced scorecard, performance
PENGARUH SIZE, LIKUIDITAS, PROFITABILITAS, RISIKO BISNIS, DAN PERTUMBUHAN PENJUALAN TERHADAP STRUKTUR MODAL PADA SEKTOR INDUSTRI PROPERTI Anissa Mega Ratri; Ari Christianti
Jurnal Riset Manajemen dan Bisnis Vol 12, No 1 (2017): Jurnal Riset Manajemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (439.693 KB) | DOI: 10.21460/jrmb.2017.121.271

Abstract

This research aimed to test the effects of size, liquidity, profitability, business risk, and sales growth to capital structure. The objects of this research were companies in property and real estate sector listed in Jakarta Stock Exchange. This research used period from 2010 to 2014 and used panel dataanalysis. The result showed size had positive effect on capital structure. Furthermore, liquidity, profitability, business risk, and growth of sales had negative effect on capital structure. This research could be concluded to support the Pecking Order Theory.Keywords: Capital Structure, Size, Liquidity, Profitability, Business Risks , and Sales GrowthPenelitian ini bertujuan untuk menguji pengaruh ukuran perusahaan, likuiditas, profitabilitas, risiko bisnis, dan pertumbuhan penjualan terhadap struktur modal. Adapun objek dalam penelitian iniadalah perusahaan yang termasuk dalam sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia periode 2010-2014 dengan menggunakan analisis data Panel. Hasil penelitian menunjukkan bahwa ukuran perusahaan berpengaruh positif terhadap struktur modal. Selanjutnya, tingkat likuiditas, pertumbuhan profitabilitas, risiko bisnis, dan pertumbuhan penjualan berpengaruh negatif terhadap struktur modal. Hasil penelitian ini secara keseluruhan mendukung teori strukturmodal Pecking Order.Kata kunci: Struktur Modal, Ukuran, Likuiditas, Profitabilitas, RisikoBisnis, danPenjualanPertumbuhan
RISIKO PASAR: PERBANDINGAN MODEL EWMA DAN GARCH PADA NILAI TUKAR RUPIAH TERHADAP US DOLLAR Ari Christianti
Jurnal Riset Manajemen dan Bisnis Vol 5, No 2 (2010): Jurnal Riset Manajemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (257.52 KB) | DOI: 10.21460/jrmb.2010.52.59

Abstract

Financial risk model evaluation or backtesting is a key part of the internal model’s approach to market risk management as laid out by the Basle Committee on Banking Supervision. Using daily exchange rate from January 2006-February 2008, will be compared measuring volatility between EWMA (Exponential Weighted Moving Average) and GARCH (Generalized Autoregressive Conditional Heterocedasticity). The results show that GARCH methods have considerably better power properties in measuring the volatility than the EWMA methods. However, the number of exceptions from the GARCH model, although much less than the EWMA model but the numbers were still above 5% and 1% (confidence level of 95% and 99%). The arguments for explained this finding is a pressure from stakeholders or the existence of an economic events that result in changes in exposure due to the different policies. As a result, the VaR model would be inaccurate to reality.Keywords: volatility, backtesting, EWMA, and GARCH
Governance and Profitability in Value of Family Companies in the Manufacturing Sector Pande Rahayu Trisna utami; Ari Christianti
Jurnal Bisnis dan Manajemen Vol 10, No 1 (2023): Jurnal Bisnis dan Manajemen Volume 10 Nomor 1 Tahun 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jbm.v10i1.9364

Abstract

The general purpose of the companies are to increase their value. The value is important because it reflects investors' perceptions of the company's performance. This study aims to examine the effect of the size of the board of directors, the size of the audit committee, and ROA (Return on Assets) on Tobin's Q. The sample used in this research is family companies that categorize in the Manufacturing sectoral from 2015-2019. The results showed that profitability had a positive effect on firm value. However, the size of the board of directors has a negative effect on firm value. It is possible that a smaller board of directors may be more active in coordinating and communicating than a larger number of directors. In addition, a more limited number of directors can improve company performance because consensus in decision making and communication becomes more effective.
Co-Authors Anissa Mega Ratri Nindy Livia Luciawanty pande rahayu trisna utami Tasya Natalia Pengestika Vania Yulianti