Jurnal Pasar Modal dan Bisnis
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
Articles
74 Documents
<![CDATA[Pengaruh Pembiayaan dan Ukuran Perusahaan terhadap Profitabilitas (ROA) pada PT Bank Panin Dubai Syariah Tbk ]]>
<![CDATA[Nasfizar Guspendri]]>;
<![CDATA[Revi Candra]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 1 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i1.36
<![CDATA[The purpose of this study is to explain how much influence the financing and size of the company on profitability at PT Bank Panin Dubai Syariah Tbk. This type of research that I use is quantitative descriptive research that is at PT Bank Panin Dubai Syariah Tbk. The data source of this study uses data obtained from the Indonesia Stock Exchange and the Financial Services Authority (OJK) in the form of secondary data in the form of quarterly financial reports of PT Bank Panin Dubai Syariah Tbk. The data collection technique is documentation in the form of quarterly financial reports that are published. The data test used is the classical assumption analysis and goodness of fit with the F test. Data analysis uses multiple linear regression analysis, T-test, and the coefficient of determination test. Data processing using Statistical Product and Service Solution (SPSS) IBM version 22. The results of this study indicate that financing influences ROA, financing influences company size. Company size affects ROA. The size of the company in this study does not effectively act as an intermediary variable between the financing variables on ROA because the financing variable produces a negative coefficient on company size and the firm size variable also has a negative effect on ROA. It was concluded that H4 was rejected. The determinant coefficient shows that simultaneous financing and firm size influence ROA.]]>
<![CDATA[Pengaruh Biaya Acrual dan Discretionary terhadap Nilai Perusahaan Manufaktur di Bursa Efek Indonesia dengan Good Corporate Governance sebagai Variabel Moderating ]]>
<![CDATA[Mangasi Sinurat]]>;
<![CDATA[Rico Nur Ilham]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 1 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i1.37
<![CDATA[Purpose - This study discusses the effect of discretionary and discretionary accruals on firm values with good corporate governance as a moderating variable in manufacturing sector companies in Indonesia. Methods - The data used are secondary data containing annual reports and financial statements of manufacturing sector companies that discuss the Indonesian Stock Exchange. The sample used in this study was 47 companies with an observation period of 5 (five) years from 2014-2018. The analysis used in this study is multiple linear regression analysis. Finding - Partial discretionary positively influence on model 1 and negatively on model 2 but not significantly to firm value, while discretionary costs have a positive and significant effect on firm value. No GCG practices can moderate the relationship of discretionary accruals to firm value, while independent commissioners, audit quality, institutional ownership, and managerial ownership can moderate the relationship of discretionary prices with firm value. The effect of discretionary and discretionary accrual costs simultaneously a significant effect on firm value. Discretionary and discretionary accrual costs with good corporate governance as a moderating variable.]]>
<![CDATA[Pengaruh Ukuran Perusahaan, Volume Perdagangan Saham, Volatilitas Return Saham, dan Dividend Yield terhadap Bid-Ask Spread ]]>
<![CDATA[Pebra Perdana Rio]]>;
<![CDATA[Fitria Husnatarina]]>;
<![CDATA[Rini Oktavia]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 1 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i1.38
<![CDATA[Bid-Ask Spread actually measures asymmetric information or asymmetric information between brokers and investors. The size of the Bid-Ask Spread shows how much asymmetric information among market participants. To reduce the level of asymmetric information, market participants try to get certain signals that can be used as information to reduce uncertainties. This study aims to analyze the effect of Company Size, Stock Trading Volume, Stock Return Volatility and Dividend Yield on Bid-Ask Spread partially on manufacturing companies listed on the Indonesia Stock Exchange for the period 2014-2018. Data is taken from the Indonesia Stock Exchange website. The population in this study is manufacturing companies listed on the Indonesia Stock Exchange until the period 2018. The sample in this study amounted to 30 companies for 5 years. Samples were obtained by purposive sampling method. The analytical method in this research is descriptive statistical analysis, multiple linear regression analysis, classic assumption test and hypothesis testing using IBM SPSS 24 software. Based on the test results show that partially company size and stock trading volume have a negative and significant effect on bid-ask spread, while stock return volatility has a positive and significant effect on the bid-ask spread, but the dividend yield does not affect the bid-ask spread.]]>
<![CDATA[Faktor-Faktor Fundamental Keuangan Perusahaan dan Pengaruhnya Terhadap Return Saham Perusahaan Kelompok Jakarta Islamic Index Tahun 2011-2016 ]]>
<![CDATA[Fitria Husnatarina]]>;
<![CDATA[Rosel Rosel]]>;
<![CDATA[Faishal Rona Akhmad]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 1 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i1.39
<![CDATA[Purpose - This research was conducted in order to examine the influence of corporate financial fundamental factors (CR, ROA, NPM, DER, EPS, PBV, PER and TATO) on the 2011-2016 Jakarta Islamic Index group company stock returns. Methods - The analysis technique used is the Random Effect method with Generalized Least Square as an estimation tool. The sampling technique used was purposive sampling with the criteria that the company always listings and is consistent in the Jakarta Islamic Index from 2011-2016. The data in this study were obtained secondary with a total sample of 15 companies. The test hypotheses used are t-statistics and F-statistics at the 0.05 significance level. Finding - The results showed that PER and EPS had a statistically significant negative effect on stock returns, while CR, NPM, DER, EPS, PBV and TATO had no statistically significant effect on stock returns. The results of this study indicate that the fundamental factors are valuation ratios (EPS and PER) used by investors to predict the JII group stock returns in 2011-2016.]]>
<![CDATA[Determinan Harga Saham dengan Nilai Perusahaan sebagai Variabel Intervening pada Perusahaan Sektor Konstruksi Bangunan ]]>
<![CDATA[Dedi Dwi Arseto]]>;
<![CDATA[Mangasi Sinurat]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 1 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i1.40
<![CDATA[The purpose of this study was to determine the effect of DER, EPS, and ROA on stock prices with company size as an intervening variable. The population of this research is companies in the building construction sector registered at BIE in 2014 to 2018. The samples used were 5 companies using perposive sampling techniques. The analysis method used is path analysis. Research Results The direct effect of Debt Equity Ratio on stock prices shows positive and significant results. While the indirect effect of positive Debt Equity Ratio is not significant on stock prices through firm value. The direct effect of Return On Assets on stock prices has not significant positive results. The indirect effect of Return On Assets on stock prices through the value of the company obtained insignificant positive results. The direct effect of Erning Per Share on stock prices obtained significant positive results. The indirect effect of Erning Per Share on stock prices through the value of the company obtained insignificant positive results. The value of the company on stock prices has a significant positive effect on companies in the construction sector in the period 2014 to 2018.]]>
<![CDATA[Keunikan Jamaah dalam Merespon sebuah Konten Loyalitas Agen Travel Umrah Dimediasi oleh Kualitas Relasional ]]>
<![CDATA[Evan Stiawan]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 1 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i1.41
<![CDATA[Purpose –The purpose of this study is to determine the effect of implicit self theory on the relational quality of pilgrims in choosing Umrah travel. Knowing the influence of relational quality on the loyalty of pilgrims in choosing Umrah travel. Knowing the effect of implicit self theory on the loyalty of pilgrims in choosing Umrah trave. Methods – Data analysis methods in the study used the Structural Equation Model (SEM) and Mediation Analysis methods. Finding – Based on the stages of analysis in accordance with existing research procedures, that according to the first objective to know the effect of implicit self theory on the relational quality of pilgrims in choosing Umrah travel, it can be concluded that it is influential. Knowing the influence of relational quality on the loyalty of pilgrims in choosing Umrah travel, it can be concluded that it is influential. Knowing the effect of implicit self theory on the loyalty of pilgrims in choosing Umrah travel, it can be concluded that it is influential. Implication -]]>
<![CDATA[Analisis Perbandingan Kinerja Keuangan pada Bank Umum Syariah BUMN (Bank BRI Syariah, Bank Syariah Mandiri dan Bank BNI Syariah) ]]>
<![CDATA[Deny Ismanto]]>;
<![CDATA[Dwi Keri Agung Laksono]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 2 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i2.42
<![CDATA[This study aims to investigate and prove empirically about the differences between the financial performance of Bank BRI Syariah, Bank Syariah Mandiri and Bank BNI Syariah during the period 2014-2018. This research is a descriptive comparison. The data used is secondary data in the form of financial statements of companies that obtained from published financial statements of Bank Indonesia through www.bi.go.id sites as well as on the official website of each of the banks. Data analysis was performed by using financial ratio analysis of CAR, ROA, ROA, FDR, and the NPF. And analysis techniques were used to compare the performance of Bank BRI Syariah, Bank Syariah Mandiri and Bank BNI Syariah is a method of Anova. Analysis showed that there were significant differences for ROA, ROA and FDR while in the CAR and the NPF is not a significant difference. Bank BRI Syariah financial performance is better in terms of capital of the CAR, ROA and efficiency ratio of the NPF ratio, the performance of Bank Syariah Mandiri in this study was less good than the other two bank, Bank BRI Syariah and Bank BNI Syariah.]]>
<![CDATA[Pengaruh Risiko, Return, dan Perekonomian Indonesia Terhadap Keputusan Berinvestasi Saat Covid-19 ]]>
<![CDATA[Revo Gilang Firdaus]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 2 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i2.43
<![CDATA[Research on investment decisions when Covid-19 is measured by the influence caused by risk, return, and the Indonesian economy. Respondents were targeted at 20 students with random sampling conducted using a questionnaire. Then the analysis uses SPSS software with validity, reliability, classic assumption, and multiple linear regression tests. The results show that the return variable becomes an influential factor in determining whether to invest in shares when Covid-19 or not. While other independent variables do not affect because they have significance that is not in accordance with the rules. The implications of this research have resulted in encouraging various sectors and parties, such as the government and other involved parties to collaborate with each other and work together to provide education and understanding related to stock investment in students.]]>
<![CDATA[Pengaruh Pengungkapan Akuntansi Lingkungan dan Mekanisme Good Corporate Governance Terhadap Kinerja Keuangan (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia) ]]>
<![CDATA[Erwin Febriansyah]]>;
<![CDATA[Rakhel Fahreza]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 2 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i2.44
<![CDATA[Purpose - The purpose of this study is to find out the importance of environmental accounting disclosures, the GCG mechanism proxied by the board of commissioners, the Board of Directors and the Audit committee on the financial performance of companies listed on the Indonesia Stock Exchange. Methods - This study uses a quantitative approach. the population in this study were companies listed on the Indonesia Stock Exchange during the period 2016-2018 and the samples used in this study were 22 companies listed on the Indonesia Stock Exchange. Data Analysis Techniques using Descriptive Statistics, Test classic assumptions, Analysis of Multiple Regression Equations, Hypothesis Testing and Determination Coefficient Testing (R-Squares). Finding - the findings in this study are the disclosure of environmental accounting has a positive influence and GCG Mechanism which is proxied by the board of commissioners and the audit committee has a negative effect and the board of directors has no influence on financial performance. still a small number of samples and objects in determination]]>
<![CDATA[Laba Perusahaan Asuransi Umum di Bursa Efek Indonesia Dipengaruhi oleh Pendapatan Premi, Beban Klaim, dan Risk Based Capital ]]>
<![CDATA[Puteri Maharani]]>;
<![CDATA[Ossi Ferli]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 2 No 2 (2020) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
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DOI: 10.37194/jpmb.v2i2.45
<![CDATA[This research was conducted to examine the effect of Premium Income, Claims Expenses, Investments, Risk Based Capital (RBC) on company profits (ROA). Premium Income (PP), Claims Expenses (BK), Investments Result (HI), and Risk Based Capital (RBC) are used as independent variables estimated to have an impact on company profits (ROA) as the dependent variable. This research was conducted at general insurance companies listed on the Stock Exchange for the period 2012-2017. The data obtained is by accessing the Indonesia Stock Exchange website. The sample in this study was selected using the Purposive Sampling method so there are only 8 insurance companies listed on the Stock Exchange for the period 2012-2017 that can be used in this study. The analysis technique used in this study is multiple regression analysis. The results of this study show Premium Income (PP) has a positive effect on company profits (ROA), Claim Expenses (BK) has a negative effect on company profits (ROA), Investments (HI) has no effect on company profit (ROA), and Risk Based Capital (RBC) has a positive effect on company profit (ROA)]]>
