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Analisis Dampak Pergantian Menteri Keuangan Terhadap Kinerja Indeks Harga Saham Gabungan (IHSG) Ananda, Iqbal; Rosalina, Melissa; Rahmansyah, Riki; Fadillah, Khalif
Annusfy : Journal of Multidisciplinary Research Vol. 1 No. 5 (2026): January 2026 , Annusfy In Press
Publisher : Jaanur Elbarik Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65065/2ecc3q48

Abstract

This study aims to analyze the impact of the replacement of the Minister of Finance on the performance of the Jakarta Composite Index (JCI). Using the event study methodology, this study examines abnormal returns and trading volume activity within an 11-day period (D-5 to D+5) surrounding the announcement. The results reveal significant differences in impact. Sri Mulyani's re-inauguration triggered positive abnormal returns, reflecting market optimism (a positive surprise) driven by her credibility and track record among investors. Conversely, the appointment of Purbaya Yudhi Sadewa was followed by negative abnormal returns and high volatility, indicating a wait-and-see attitude and market uncertainty regarding the profile and competence of the new Minister of Finance in managing fiscal policy. These results confirm that market response is not solely determined by the official change event, but rather by the individual's credibility, performance track record, and the surrounding economic-political situation
Analisis Perbandingan Realisasi Anggaran BPHTB Periode (2020-2024) Terhadap Peningkatan Pendapatan Asli Daerah Kota Medan Ananda, Iqbal; Rosalina, Melissa; Rahmansyah, Riki
Rashid : Journal of Economic Vol. 1 No. 2 (2025): Rashid : Journal of Economic
Publisher : Jaanur Elbarik Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65065/yn6gfs94

Abstract

This study aims to examine the discrepancy between the targeted figures and the actual achievement of Land and Building Acquisition Tax (BPHTB) revenue in the Medan City area during the period 2020 to 2024. Quantitative methods include descriptive analysis, comparative techniques, and simple linear regression on secondary data from the local Regional Revenue Agency (BAPENDA). The results of the study indicate that the realization of BPHTB has a significant impact on the growth of PAD, with a peak achievement of 95.59% occurring in 2021 and a low point of 62.84% in 2023. Although the average value tends to increase, the data shows a high level of variation and extreme distribution. The results of statistical tests show a very close positive linear relationship between the realization of BPHTB and PAD (indicated by a correlation coefficient reaching 0.971), however, its statistical significance is limited due to the relatively small number of samples and quite sharp data fluctuations. Among the inhibiting factors identified are the still low level of understanding and concern of taxpayers, inadequate levels of compliance, and socialization and supervision from local governments that have not been running optimally