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INDONESIA
Jurnal Management Risiko dan Keuangan
Published by Universitas Brawijaya
ISSN : 29640695     EISSN : 29640695     DOI : -
Core Subject : Science,
Decision Sciences, Operations Research & Management
Publish all forms of quantitative and qualitative research articles and other scientific studies related to the field of Risk Management and Finance.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Strategi dan Menejemen
Articles 7 Documents
 1 
Search results for , issue "Vol. 1 No. 4 (2022)" : 7 Documents clear
KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH INITIAL PUBLIC OFFERING (IPO) Fauzan, Muhammad; Risna Wijayanti
Jurnal Management Risiko dan Keuangan Vol. 1 No. 4 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.4.06

Abstract

This research aims to analyze company’s financial performance before and after Initial Public Offering (IPO) and to show whether there are any significant differences of company’s financial performance before and after IPO. This research focuses onthe financial performance of PT. MNC Sky Vision, Tbk. The data was obtained from their annual financial reports from 2009 to 2019. And was analyzed using descriptive statistic and paired sample t-test in SPSS. The results show that Liquidity, Activity, Profitability, and Market Value ratios were decreasing before IPO and that Solvability have the opposite result.  Furthermore, Profitability and Market Value ratios were decreasing after IPO, while Liquidity and Solvability were volatile, Activity is the only ratio that was increasing after IPO. The results of the paired sample t-test show that Liquidity, Solvability, Activity, and Profitability ratios have no significant difference between before and after IPO.
PERBANDINGAN ANALISIS PENILAIAN HARGA WAJAR SAHAM DENGAN METODE PENILAIAN RELATIF DAN ARUS KAS TERDISKONTO DALAM PENGAMBILAN KEPUTUSAN INVESTASI Budiono, Dymas Adji Zaksana; Yuana, Pusvita
Jurnal Management Risiko dan Keuangan Vol. 1 No. 4 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.4.07

Abstract

Based on history the JKSE level will reverse direction if it experiences a deep decline that occurs in global or national conditions, in 2020 the JKSE will experience a deep decline due to the COVID-19 pandemic. This makes a potential investment in the healthcare sector, based on price movements through IDXHEALTH, the price of this sector continues to increase because the industry is in high demand. Thus, this study aims to find the fair value of shares in the healthcare sector to invest in by using a comparison of two valuation methods, namely relative valuation and discounted cash flow. The sampling technique was non-probability sampling, namely purposive sampling on the population of the pharmaceutical and health research sectors on the Indonesia Stock Exchange. The data analysis method used is descriptive statistical analysis, relative valuation, and discounted cash flow. The results of this study indicate that both methods can be used. However, discounted cash flows are more realistic based on a safer margin of safety in risk comparisons and result in undervalued conclusions so that buying decisions for investors and companies can be a reference to improve company performance.
PENGARUH DINAMIKA BURSA SAHAM ASING DAN MAKROEKONOMI TERHADAP INDEKS HARGA SAHAM GABUNGAN BURSA EFEK INDONESIA Luthfiyah, Viviani; Djazuli, Atim
Jurnal Management Risiko dan Keuangan Vol. 1 No. 4 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.4.05

Abstract

The purpose of this research is to identify the effects of the dynamics foreign stock exchange and macroeconomy on the composite stock price index of the Indonesia Stock Exchange. As macroeconomy consists of inflation, interest rate, exchange rate, and foreign exchange reserve, foreign stock exchange is observed form the stock price index of foreign countries as seen in their respective stock exchange during the period of 2016-2020. The IDX Composite fluctuates due to several factors such as macroeconomy and the economy of ASEAN countries. The population of this quantitative explanatory research is macroeconomic indicators and the composite stock price indices of ASEAN countries. Here secondary data consisting of monthly IDX Composite and monthly macroeconomic indicators released by Bank Indonesia in its website was used, which was then processed and descriptively analyzed in Statistical Product and Service Solution (SPSS). The results of the F-test indicate that simultaneous effects on the IDX Composite were found from each variable. Meanwhile, the results of the t test show that inflation, exchange rate, foreign exchange reserve, and the Philippine Stock Exchange (PSE) significantly affect the IDX Composite, while BI Rate, the Straits Times Index (STI), the Kuala Lumpur Stock Exchange.
KOMPARASI STRATEGI INVESTASI DENGAN PENDEKATAN MOVING AVERAGE CONVERGENCE DIVERGENCE (MACD), RELATIVE STRENGTH INDEX (RSI), DAN BUY AND HOLD Setiani, Okki Arnelia; Nugroho, Dian Ari
Jurnal Management Risiko dan Keuangan Vol. 1 No. 4 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.4.02

Abstract

The objective of this research is to identify returns generated from investment strategies that use Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Buy and Hold approaches applied by companies consistently listed on the LQ45 Index during the 2015-2020 period. The identification of the return can help determine strategies with the most optimal return along with the stocks. The sample was selected using purposive sampling with the criteria of companies whose stocks have never been suspended, were actively traded during the research period, and were consistently included in LQ45 Index. The results of the observations on the 26 sample companies have led to following findings. First, returns gained from MACD, RSI, and Buy and Hold are different. Second, Buy and Hold gives most optimal return average. Third, stocks with the most optimum return are BBCA, i.e. 79.16%. The return was gained through Buy and Hold strategy, a strategy that does not require many transactions.
ANALISIS PENERAPAN SISTEM REMUNERASI DI UNIVERSITAS BRAWIJAYA Rusul, Ahmad Khitamur; Noermijati, Noermijati
Jurnal Management Risiko dan Keuangan Vol. 1 No. 4 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.4.04

Abstract

Employee motivation in an agency is a big challenge for every leader, one example is the salary allowance which is regulated in the remuneration system. The Rectorate of Universitas Brawijaya is the center for high leadership ranks at the university level who are authorized throughout the university environment. Brawijaya University is one of the universities that implements the Remuneration System for State Civil Apparatus under its auspices. This study aims to find out how the remuneration system is implemented in all academicians of Universitas Brawijaya and the obstacles they face. This research was conducted by using interview techniques for employees of the Remuneration System Team, Chief Administrative Officer / Deputy Dean II in the faculty environment and in-depth data collection with the Remuneration System Team of Universitas Brawijaya. Data was collected through observation, interviews and documentation, then the data was processed using Miles Hubermann's data analysis technique which consisted of three stages, including: Data Reduction, Data Presentation and Conclusion Drawing. The results of the analysis show that the remuneration system is an inseparable part of Brawijaya University, especially for Brawijaya University employees in managing human resources, the remuneration system is the performance of employees for their contribution to Brawijaya University.
ANALISIS RASIO LIKUIDITAS, AKTIVITAS, SOLVABILITAS, DAN PROFITABILITAS UNTUK MENILAI KINERJA KEUANGAN Fanalisa, Fauziyah; Juwita, Himmiyatul Amanah Jiwa
Jurnal Management Risiko dan Keuangan Vol. 1 No. 4 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.4.01

Abstract

The objective of this descriptive quantitative research is to identify the financial performance of PT. Angkasa Pura II (Persero) during the 2018-2020 period using time-series financial ratio analysis. Ratio analysis is a method that identifies relationships between certain posts in balance sheets, individual profit-and-lost statements, and the combination of the two. The variables used in this study are liquidity ratio, i.e. current ratio and quick ratio; activity ratio, i.e. inventory turnover ratio, fixed assets turnover ratio, and total assets turnover ratio; solvability ratio, i.e. debt-to-asset ratio and debt-to-equity ratio; and profitability ratio, i.e. net profit margin, return on assets, and return on equity. This study finds that firm’s liquidity was unfavorable, or not liquid. This is reflected from its current and quick ratios that show risks in the company’s capability to pay its short-term liabilities, evidenced by the decreasing values of the two ratios during the research period. The company’s activity ratio was also not very good since its inventory turnover ratio, fixed assets turnover ratio, and  total assets turnover ratio were also decreasing. This means that the company had not been able to use its assets effectively to increase its revenue. In terms of solvability, increases in debt-to-asset ratio and debt-to-equity ratio inform that the company had a great financial risk that accompanies its huge chances to produce high profit. Finally, the company’s profitability was also not good because declining trends were found in its net profit margin, return on assets, and return on equity, indicating that the company had suffered losses and had not been able to generate profit from all its capacities and resources.
EVALUASI SOP (STANDARD OPERATING PROCEDURE) SEBAGAI PENUNJANG KINERJA PERUSAHAAN Nugrahayanti, Andra Fyonaliza; Ikhtiara Kaideni Isharina
Jurnal Management Risiko dan Keuangan Vol. 1 No. 4 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.4.03

Abstract

The objective of qualitative descriptive research is to evaluate the implementation of SOP in the internal affairs unit of PT XYZ. The data was gathered by conducting observations, documentation, triangulation, and interview with two internal affair officials of the company. Its validity was checked using credibility, transferability, dependability, and confirmability tests, and the analysis was conducted using the interactive model. The internal affairs unit has six SOPs; they are Post-Tenure Housing Allowances Payment, Integrated Building Maintenance, In- and Out-Office Meeting Facility Payment, Proposal Permit for Operational dan Positional Official Residence Placement, Provision of PT XYZ Guest House Facility, and Operational Vehicle Usage. The Result of the analyses indicate that the said unit has not fulfilled the seven principle for SOP arrangement. This makes the SOP fail in giving the maximum result. Other factors that hinder the implementation of the SOP is the weak regulation enforcement, frequent occurance of negotiation, and intervention of company leaders; all of which the standard cannot be applied properly. However, the SOP has helped the company attain its goals in terms of cost efficiency and maximum service.

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