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 Tingkat Kupon, Jenis SBN Ritel, Implementasi E-SBN, & Penurunan Nominal Pemesanan Terhadap Tingkat Partisipasi Investor Milenial SBN Ritel ]]>
<![CDATA[Hendrocahyo Hendrocahyo]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.80
<![CDATA[In this research, we would like to seek the effectiveness of government strategy to attract millennial investors through a regression model. The strategies are lowering the minimum order and implementing online basis order (e-SBN). We also add variables such as coupon rate, and Government Bond Securities types, to test previous research conducted by Sylvié Formanka et.al (2019) related to the millennial decision-making process on investing. From our research, using cross-section linear regression method toward Government Retail Securities Bond from the year 2006 to 2019, we found that the coupon rate, the types of Government Securities Bond, the implementation of e-SBN, and the smaller amount of minimum order are having a significant influence toward the participation level of millennial investors.]]>
<![CDATA[Pengaruh Tingkat Inflasi dan Suku Bunga BI Rate Terhadap Indeks Sektor Konsumsi ]]>
<![CDATA[Kristiana Oktavia]]>;
<![CDATA[Robiyanto Robiyanto]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.85
<![CDATA[This research is intended to analyze the effect of inflation and BI rate on the consumption sector index. This type of research data is quantitative method which is secondary data in the form of a monthly basis from 2015 to 2020 using the GARCH technique. The results showed that inflation and BI rate positive insignificant effect on the consumption sector index from 2015 to 2020. The result of this study implicated that investors can consider external factors in making investments. The results of the study have limitations only using 2 macro variables which are very commonly used, it is better if for further research to use more maro variables and add micro variables. Then can use other sector indexes in research and can conduct new research by comparing the period before the pandemic and during the Covid-19 pandemic.]]>
<![CDATA[Shariah Compliance Status, Market Conditions dan IPO Oversubscription ]]>
<![CDATA[Ramadani Lalu Ahmad]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.93
<![CDATA[This study aims to examine the effect of Shariah Compliance Status, Market Conditions on IPO Oversubscription. The sample in this study is a company that conducts an Initial Public Offering (IPO) in the period 2017-2020, using Probability Sampling as a sample determinant and analyzed using multiple linear regression. The results of this study indicate that Shariah Compliance Status and Market Conditions have a significant effect with values of 0.045 and 0.021 on IPO Oversubscription. The result is due to the better understanding of Muslim investors. Meanwhile, in the position of market conditions, with economic pressure due to the Covid-19 pandemic, it creates astigma wait-and-seeon investors because the pandemic creates higher speculation and risk.]]>
<![CDATA[Rasio Solvabilitas Terhadap Profitabilitas Perusahaan Sektor Agrikultur yang Terdaftar di BEI Periode 2019 ]]>
<![CDATA[Tine Badriatin]]>;
<![CDATA[Lucky Radi Rinandiyana]]>;
<![CDATA[Asep Saepudin]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.94
<![CDATA[Every company must have a goal that is to make a profit. To obtain a profit, the company must allocate the amount of funds so that it will be obtained solvency that is optimal enough so that a profit is obtained in accordance with that expected by a company. The purpose of this study was to find out how much solvency ratio affects Profitability in Agricultural Sector Companies Listed in IDX Period 2019. In this study, samples used as many as 15 companies. This study took data in the form of financial statements for the period 2019. Variables in this study consist of free variables namely Return on Equity and bound variables are Debt to Asset Ratio, Debt to Equity Ratio, and Coverage Ratio. Where this research uses multiple linear regression analysis techniques after passing the classic assumption test consisting of hypothetical tests. The results prove that solvency affects profitability.]]>
<![CDATA[Analysis of Stock Prices and Stock Trading Volumes Before and After Unusual Market Activity (UMA) on the Indonesia Stock Exchange (IDX) in 2019 ]]>
<![CDATA[Dedy Dwi Arseto]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.96
<![CDATA[Analysis of Stock Prices and Stock Trading Volumes Before and After Unusual Market Activity (UMA) on the Indonesia Stock Exchange (IDX) in 2019. This study aims to determine the difference in stock prices and stock trading volumes before and after the announcement of Unusual Market Activity (UMA) on the Stock Exchange. The Indonesian Stock Exchange (IDX) in 2019. The population in this study amounted to 84 issuers with a sample of 20 issuers. Sampling using Non Probality Sampling, with the sampling technique is Purposive Sampling. Research data collection techniques using observational data and literature study. The data analysis technique used descriptive statistical analysis, the Shapiro-Wilk normality test, the Wilcoxon signed rank test hypothesis. The results showed that there was no difference in stock prices in stocks before and after the announcement of Unusual Market Activity (UMA) on the Indonesia Stock Exchange (IDX) in 2019 and there were differences in stock trading volume in stocks before and after the announcement of Unusual Market Activity (UMA) on the Stock Exchange. Indonesia (IDX) in 2019..]]>
<![CDATA[A Comparative Study Of Cryptocurrency Ability As Hedge And Safe Haven During The Covid-19 Pandemic ]]>
<![CDATA[Didik Gunawan]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.97
<![CDATA[This study tries to prove whether dogecoin can be a hedging tool and or a safe haven like bitcoin and tether. The population of this study is all Bitcoin (BTC), Tether (USDT), Dogecoin (DOGE) and S&P 500 data with daily time series data. While the data used as a sample in this study will be divided into two parts, daily closing data that follows the opening of trading in S&P 500 stocks before the WHO announcement about the global pandemic (12 March 2020) and during the pandemic. The results show that Bitcoin and Dogecoin can act both as hedging tools and as safe havens, while Tether can only be a hedging tool but cannot be a safe haven. These results prove that even though stablecoins are guaranteed by fiat money, they have not become investors' choice as a safe haven, fears of hacking and moral hazard are allegedly the main reasons]]>
<![CDATA[THE Analisis Potensi Kebangkrutan Dengan Menggunakan Metode Altman Z-Score, Springate Score, Dan Zmijewski Score (Studi Kasus Pada PT Hanson International Tbk) ]]>
<![CDATA[Nurul Fitri]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.99
<![CDATA[This study aims to describe the potential for bankruptcy using the Altman Z-score, Springate score, and Zmijewski score method, and to see which method has the highest level of accuracy. This type of research is qualitative using secondary data, namely data on the annual financial report publication of PT Hanson International Tbk for the period 2015-2018. The sampling technique is side purposive. Buy using data analysis techniques Altman Z-score, Springate score, and Zmijewski score method. The results of this study indicate that there are difference in predicting the potential bankruptcy of PT Hanson International Tbk for the 2015-2018 period from each method used between the Altman Z-score, Springate score, and Zijewski score method. and the rate of the Springate score method which has the highest level of 100% with an error type of 0%.]]>
<![CDATA[Pengaruh PENGARUH CURRENT RATIO DAN TOTAL ASSET TURNOVER TERHADAP RETURN ON INVESMENT PADA PERUSAHAAN SEKTOR KONSTRUKSI YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2017- 2019 ]]>
<![CDATA[Wulan Ayuandiani S.E., M.M]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 3 No 2 (2021) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v3i2.101
<![CDATA[The purpose of this study was to determine the effect of the Current Ratio and Total Asset Turnover on Return On Invesment through statistical analisis methods during the 2017-2019 period. This research was conducted in construction sector companies listed on the Indonesian Stock Exchange. This research used is a quantitatif descriptive method and the secondary data. Secondary data in from of financial statement of construction sector companies for 2017-2019 period. The type of data used is quantitative data with documentation collection techniques. Based on the result of the t-test research, it can be concluded that the Current Ratio have not significant effect on Return On Investment of construction sector companies 2017-2019 period. Based on the result of the t-test research, it can be concluded that the Total Asset Turnover of construction sector companies have positive and significant effect on Return On Investment of construction sector companies 2017-2019 period. Based on the F test simultaneously both of Current Ratio and Total Asset Turnover have positive and significant effect on Return On Investment of construction sector companies 2017-2019 period.]]>
<![CDATA[Model Perilaku Investor Individu Indonesia Sebelum dan Masa Pandemi Covid-19 ]]>
<![CDATA[Elizabeth Lucky Maretha Sitinjak]]>;
<![CDATA[Kristiana Haryanti]]>;
<![CDATA[Widuri Kurniasari]]>;
<![CDATA[Yohanes Wisnu Djati Sasmito]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 4 No 1 (2022) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v4i1.70
<![CDATA[The purpose of this study makes model the behavior of individual stock investors before and during the Covid-19 pandemic from macroeconomic information, accounting information, technical information, and personalities. The method used is Focus Group Discussion (FGD) and then using the Analytical Hierarchy Process (AHP) will form a model, while the quantitative data is processed using Tetrad V to get the next model. The results obtained by macroeconomic information affect both accounting and technical information. However, the behavior of individual stock investors in Indonesia is very reliable for investor personalities in making their stock investment decisions compared to the information received. There is a shift in the behavior of rational investors to irrational and vice versa irrational to rational investors. We mention hybrid behavior when market conditions enter the Covid-19 pandemic. DISC personalities, investors, individuals before the pandemic period tend to be precise (a combination of stability and compliance), when entering a pandemic, the personality tends to tend towards stability.]]>
<![CDATA[Dampak Vaksinasi Covid-19 Terhadap Saham PT Kimia Farma Tbk ]]>
<![CDATA[Zainuri Zainuri]]>;
<![CDATA[Nila Diansari]]>
<![CDATA[ Jurnal Pasar Modal dan Bisnis Vol 4 No 1 (2022) ]]>
Publisher : <![CDATA[The Indonesia Capital Market Institute ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.37194/jpmb.v4i1.103
<![CDATA[The first Covid-19 vaccine in Indonesia was carried out on January 13, 2021, by the President of Indonesia. This study aims to determine whether there is a significant difference in stock prices and stock trading volume due to the COVID-19 vaccination event at PT Kimia Farma Tbk (KAEF). The research data were taken 72 days before and 72 days after the vaccine event by the President of Indonesia. The data was processed using the Wilcoxon Signed Rank Test, SPSS version 25. The test results showed no significant difference in stock prices before and after vaccination by the President of Indonesia. There is a significant difference in stock trading volume on stock prices before and after vaccination by the President of Indonesia. In terms of fundamental valuation, the phenomenon of booming pharmaceutical stocks is, on average, overvalued (higher than the original price). Information regarding the vaccination event by the President of Indonesia did not make investors buy in the stock market. The euphoria of the covid-19 vaccination makes investor sentiment towards the prices of pharmaceutical stocks, especially KAEF stocks, only temporary.]]>
