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Jurnal Pasar Modal dan Bisnis

jpmb
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Published by The Indonesia Capital Market Institute

ISSN : - EISSN : 27155595 DOI : https://doi.org/10.37194/

Core Subject : Economy, Science, Social,

Computer Science & IT Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

The journal is designed to provide a platform for researchers, academicians, and practitioners who are interested in new knowledge and discussing ideas, issues, and challenges in the field of capital markets. JPMB is published by The Indonesia Capital Market Institute (TICMI). It covers the following topics: - Capital Markets and Financial Institutions - Financial Instruments and Financial Innovation - Investment and Financial Decision Making - Valuation of Financial Assets - Financial and Non-Financial Information - Corporate Reporting & Investment Decision - Capital Market Governance & Sustainability - Investor Protection - Capital Markets Literacy and Inclusion - Financial Standards and Regulations - Crime in Capital Markets - Risk Management in Capital Markets - Financial Engineering & Derivatives - Islamic Capital Markets - Emerging Markets Studies - International Capital Markets - International/Regional Financial Center - Capital Markets Technology & Cybersecurity and related topics

Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)

Articles 74 Documents

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Penggunaan Value Added Intellectual Capital (VAIC) Sebagai Prediktor Nilai dan Kinerja Keuangan Perusahaan (Studi Empiris Pada Perusahaan di Sektor Miscellaneous, Consumer Goods Property, Real Estate & Building Construction dan Infrastructure, Utilities Firman Adnan; Josephine Sudiman
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

This research is motivated by the development of science and technology that causes many companies to make business strategies based on science, namely intellectual capital (IC). One measurement that can be used to measure IC is VAICTM developed by Pulic (2000). The purpose of this study is to analyze the effect of intellectual capital on the market value and financial performance of companies. The research method used is a simple linear regression method. The sample of this study are companies of the miscellaneous, consumer goods, property and infrastructure sectors listed on the Indonesia Stock Exchange between 2015 and 2018. The results of this study indicate that IC is only able to be a predictor of financial performance as measured by using return on assets (ROA) and return on equity (ROE), while IC is not able to be a predictor of company value measured using price book value (PBV), price earnings ratio (PER) and Tobin's Q (Q).

Integrasi Pasar Saham Indonesia Dengan Pasar Saham Asia Didik Gunawan; Willy Cahyadi
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

This study aims to prove the integration of the Indonesian stock market with the stock markets of countries in Asia, especially the largest trading partners. The population in this study is the monthly data of Nikkei225, KLSE, STI, SSE and LQ45 for the period 2014 to 2018, using VAR modeling. The results of this study prove that in the interaction of the Indonesian stock market with Asian trading partners, especially China, Japan, Singapore and Malaysia, this study proves that only Japan is not significantly related to the Indonesian economy, the decline in trade volume and trade wars are the main causes of these results.

Pengaruh Strategi dan Preferensi Investor terhadap Pengambilan Keputusan Investasi dengan Media Informasi sebagai Variabel Moderating Isabelle Imelda; Elizabeth Lucky Maretha Sitinjak; Eny Trimeiningrum
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

The purpose of this study was to determine the effect of investor strategies and preferences on investment decision making with information media as a moderating variable. The population in this study are all investors in Semarang. The sampling technique in this study used purposive sampling technique. Data from this study are derived from primary data. The method used for data collection needed in this study is a questionnaire. Data analysis in this study uses multiple regression analysis. The results of this study are that investor strategy has a positive effect on investment decision making, investor preferences have a positive effect on investment decision making, information media can be a moderating variable that strengthens the influence of investor strategy on investment decision making, but it is not significant, and information media can be a moderating variable that is strengthen the influence of investor preferences on investment decision making.

Analisis Tingkat Pemahaman Akuntansi Mahasiswa dengan Model Pembelajaran Role-Play (Studi Kasus: Mahasiswa Jurusan Akuntansi Politeknik Negeri Padang) Diki Supriadi; Josephine Sudiman; Lisa Amelia Herman
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

This research was conducted at Padang State Polytechnic Department of Accounting. Students of this department acted as junior accountants in a role-play learning model with the aim to study their level of understanding at preparing basic financial reporting. Research method used is a qualitative descriptive method by conducting interviews, observations and documentation to obtain data and information that is accurate and similar to actual situations. The results showed that participants with a high accounting understanding level as much as 58%, a moderate accounting understanding level as much as 25% and with a low accounting understanding level as much as 17%. The results also show that the obstacles during this role-play learning model are lack of participants’ effort to learn the given modules and to act accordingly.

Hubungan Likuiditas, Profitabilitas, Leverage Dan Earning Per Share Terhadap Underpricing pada Perusahaan Yang Melakukan Initial Public Offering (IPO) Tahun 2009-2018 Nadya Khaira; Josephine Sudiman
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

This research aims to determine the relationship of liquidity, profitability, leverage and earnings per share on underpricing of companies conducting Initial Public Offering (IPO) from 2009 to 2018, using a purposive sampling method with a total sample of 156 companies. Secondary data obtained from the prospectus and the company's financial statements and Spearman rank-order correlation used for hypothesis testing. The results of this study indicate that: (1) Liquidity have no relationship with underpricing, (2) Profitability have a low relationship with underpricing, (3) Leverage has a very low relationship to underpricing, (5) Earning per share (EPS) variable has no relationship to underpricing.

Analisis Faktor-faktor yang Mempengaruhi Kinerja Perusahaan Sekuritas Anggota Dana Perlindungan Pemodal Bayu Priguna
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

This research discusses the factors that influence the performance of the securities firms in Indonesia. Based on the theory of structure, conduct, and performance (SCP), the firm's performance, measured by profitability, will be influenced by market concentration (traditional hypothesis), market share (differentiation hypothesis), efficiency (efficiency structure hypothesis). Another theory stated that macroeconomic variables such as interest rate can affect firm’s performance. This thesis uses panel data regression with Estimated Generalized Least Square (EGLS) method with random effect which statistically shows that efficiency, interest rate, and market share affect profitability of securities firms. While other variable representing market concentration, concentration ratio does not affect profitability.

Analysis of Ziswaf, Production Index and Sharia Stock Index on Economic Growth Purbawati Setyaningsih; Roikhan Mochamad Aziz; Puji Hadiyati
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

This study analyzes the influence ZISWAF, Gini ratio, the total export value, the index of industrial production, sharia stock index investment to GDP growth, in the short and long term. Qualitative data were taken from BPS, Baznas, ACT Global Waqf, the FSA from March 2006 until December 2017 using the methodology of The Error Correction Model (ECM). The results of this study indicate that the variable Gini Ratio, Ziswaf, Total exports, Production Index and Sharia Stock Index on GDP economic growth have significant and positive effects in the long term and the short term. Meaning that these variables have a relationship with GDP economic growth. If the variable decreases or slows down-then GDP economic growth also. While total exports have insignificant effects and negative effects on GDP economic growth. The R-square regression value of the long-term model produces a proportion of 96 percent, the short-term model produces a proportion of 97 percent. Both in the long-run and short-run models, the highest coefficient value is the value of the Gini ratio with 4.941522 and 0.348043. All positive coefficients, Gini ratio variables, ziswaf and production index have a significant effect on gdp, total exports and sharia stock indexes do not have a significant effect on gdp both in the long and short-term models. It implies in the future, fiscal economic policy makers to economic growth that opened a lot of employment, by encouraging resource based economic activities of Indonesia's largest export-oriented agriculture and mining. Good Corporate goverment should do so gini ratio of the areas surrounding the economy improved and people kesejahtaeraan increase.

Faktor- Faktor yang Mempengaruhi Devidend Payout Ratio pada Perusahaan Property dan Real Estate Satryo Wibowo; Yupiter Gulo; Mariane Ellen Harmoni Purbojati
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

The purpose of this research is to test and analyze empirically the influence of return on investment, return on equity, net profit margin, debt to equity ratio, and earnings per share toward stock price. This research also to compare and improve the results of previous studies. The objects used in this study is property, real estate, and building construction industry sector listed on the Indonesia Stock Exchange (IDX) for six years 2011-2016. The purposive sampling is used as sampling technique to obtain 11 companies listed in property, real estate, and building construction that met the criteria and were analyzed using descriptive statistics and panel data regression with fixed effect model to test the hypotheses. This research is processed using E-views 9 software. The results of the research as follows, return on investment, return on equity, net profit margin, and earnings per share influence stock price. While debt to equity ratio do not influence stock price. The purpose of this research is to test and analyze empirically the influence of current ratio, debt to equity ratio, return on asset, firm size, and growth toward dividend payout ratio. This research also to compare and improve the results of previous studies. The objects used in this study is property and real estatecompanies that listed in the Indonesia Stock Exchange (IDX) for five years 2012-2016. The purposive sampling is used as sampling technique to obtain 7 companies listed in property and real estate that met the criteria and were analyzed using descriptive statistics and multiple linear regression to test the hypothesis. This research is processed using E-views 9 software. The results of the research as follows, current ratio, return on asset, and firm size influence dividend payout ratio. While debt to equity ratio and growth do not influence dividend payout ratio.

Peranan Exchange-Trade Funds (ETF) untuk Mendorong Pertumbuhan Industri Reksa Dana Dalam Pasar Modal Indonesia Rr. Prasetiowati Kutra; Edo Edo Azhara; Yupiter Gulo
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

ETF atau Exchange-Trade Funds dikenal sebagai salah satu inovasi produk reksa dana sebagai tindak lanjut dari POJK No. 49/POJK.04/2015. Studi ini merupakan kajian deskriptif tentang produk ini dengan semua fitur keunikan yang dimilikinya sebagai salah satu bentuk diversifikasi produk reksa dana yang sudah ada. Kajian ini, juga berusaha mengeksplorasi kekuatan serta kelemahan yang dimiliki oleh produk ETF baik secara internal maupun secara eksternal. Menarik, karena kajian deskriptif ini memperlihatkan peningkatan respon dari investor yang sangat signifikan terhadap produk ETF. Salah-satu faktor yang menjadi daya tarik investor adalah karena instrumen ETF ini bisa diperjualbelikan di Bursa Efek Indonesia seperti layaknya saham. Ada sejumlah faktor lain yang menarik untuk dicermati terkait pertimbangan para investor untuk memilih instrumen reksa dana, khususnya ETF sebagai alternatif investasi di pasar modal.

Potensi Kebangkrutan dan Pertumbuhan Perusahaan: Pengaruhnya Terhadap Penerimaan Opini Audit Going Concern pada Perusahaan Manufaktur Christina Andriani Ayu Mahardika; Veny Anindya Puspitasari
Jurnal Pasar Modal dan Bisnis Vol 2 No 1 (2020)
Publisher : The Indonesia Capital Market Institute

Auditor's opinion is quite important information related to one's investment decisions. Going concern opinion will be useful for users of financial statements, especially investors as a negative sign about the survival of the company. This study aims to determine the effect of potential bankruptcy and company growth on the acceptance of going concern audit opinion in manufacturing companies. The logistic regression model was used to test the hypothesis in this study. From the results of data processing, it is obtained that the potential for bankruptcy affects the acceptance of going concern audit opinion in manufacturing companies. However, it turns out that the company's growth does not affect the acceptance of going concern audit opinion in manufacturing companies.

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Muflihul Khair

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Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190

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Dki jakarta

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Muflihul Khair

Contact Email muflihul.khair@ticmi.co.id

Phone +628334138833

Journal Mail Official editor.jpmb@gmail.com

Editorial Address Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190

Location Kota adm. jakarta selatan, Dki jakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Muflihul Khair

Contact Email
muflihul.khair@ticmi.co.id

Phone
+628334138833

Journal Mail Official
editor.jpmb@gmail.com

Editorial Address
Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190

Location
Kota adm. jakarta selatan,

Dki jakarta

INDONESIA