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PENGARUH VARIABEL MAKROEKONOMI DI PASAR SAHAM: BUKTI DARI BURSA EFEK INDONESIA (BEI) PERIODE 2006-2015 Christie, Maria Brenda; _, Khairunnisa; Dillak, Vaya Juliana
Modus Journals Vol 29, No 2 (2017): MODUS
Publisher : Faculty of Economics Universitas Atma Jaya Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24002/modus.v29i2.1332

Abstract

The world economic conditions which have been entered the era of globalization make a big influence of capital movement into financial market in emerging country, including Indonesia. Nowadays, almost all countries paying attention to the capital market because it has a major role in the economic development of a country. Seeing the development of the Indonesian capital market, one of the indicators used in assessing the market in general or measure whether the share price increase or decrease is the Composite Stock Price Index. This study examines the causal relationship between Composite Price Index in Indonesia Stock exchange with independent variable Inflation, SBI Interest Rate, and Gross Domestic Product (GDP). The period of this study is from 2006 to 2015. To meet the objectives of this study, the hypothesis is test using Granger Causality Test. The sampling method is using non probability sampling with saturated sample. This study uses secondary data from the annual report of Indonesia Stock Exchange, the annual report of Bank Indonesia, and Statistic Indonesian’s report.The result shows that there is bidirectional causality relationship between SBI Interest Rate variable with Composite Stock Price Index, while the variable of inflation and GDP does not have a causal relationship each other. In addition, this study shows that the variable of Inflation, SBI Interest Rate, and GDP simultaneous effect on Composite Stock Price Index in the Indonesia Stock Exchange on period 2006-2015. Keywords: Inflation, SBI Interest Rate, GDP, Composite Stock Price Index, Granger Causality
PENGARUH PROFITABILITAS, STRUKTUR MODAL, KEPEMILIKAN PUBLIK DAN BONUS PLAN TERHADAP INCOME SMOOTHING Nurani, Wanti; Dillak, Vaya Juliana
JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi) Vol 3 No 1 (2019): Vol 3 No 1 April 2019
Publisher : Jurusan Akuntansi Fakultas Ekonomi Universitas Langlangbuana Bandung

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Abstract

Income Smoothing (perataan laba) merupakan praktik akuntansi yang dilakukan oleh manajemen dengan tujuan agar laba yang diperoleh perusahaan tidak berfluktuasi. Hal ini dilakukan untuk menarik perhatian dari investor, dimana investor cenderung untuk melihat laba dalam menentukan keputusan investasinya. Penelitian ini dilakukan untuk mengetahui bagaimana pengaruh secara simultan dan parsial antara profitabilitas, struktur modal, kepemilikan publik dan bonus plan terhadap income smoothing pada perusahaan sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia pada tahun 2013-2017. Metode dalam penelitian ini menggunakan metode kuantitatif. Penelitian ini menggunakan jenis penelitian deskriptif verifikatif dengan jenis penelitian asosiasi. Teknik pengambilan sampel pada penelitian ini menggunakan teknik purposive sampling dengan memeroleh 29 sampel perusahaan dengan kurun waktu 4 tahun sehingga diperoleh 116 unit sampel. Penelitian ini menggunakan metode analisis regresi logistik dengan menggunakan software SPSS 25.0. Hasil penelitian ini menunjukkan bahwa variabel profitabilitas, struktur modal, kepemilikan publik dan bonus plan secara simultan berpengaruh signifikan terhadap income smoothing. Secara parsial, profitabilitas yang diproksikan return on assets (ROA) berpengaruh negatif terhadap income smoothing. Struktur modal yang dipoksikan dengan debt to asset ratio (DAR) berpengaruh positif terhadap income smoothing. Sementara variabel kepemilikan publik dan bonus plan tidak berpengaruh signifikan terhadap income smoothing.  
Pengaruh Ukuran Perusahaan, Kebijakan Hutang, dan Profitabilitas Terhadap Nilai Perusahaan Dwiastuti, Dina Shafarina; Dillak, Vaya Juliana
Jurnal ASET (Akuntansi Riset) Vol 11, No 1 (2019): Jurnal ASET (Akuntansi Riset) Januari -Juni 2019 [DOAJ & SINTA INDEXED]
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/jaset.v11i1.16841

Abstract

Abstract. This study ains to determine the effect of firm size (SIZE), debt policy (DER), and profitability (ROA) on firm value (Tobin’s Q) in manufacturing basic industry and chemicals companies listed on the Indonesia Stock Exchange in 2013-2017. The sampling technique used is perposive sampling and obtained 39 firms with a research period of 5 years, this obtaining 195 sampel data. The method of data analysis in this study is panel data regression analysis using software eviews 9. The result showed that simultaneous firm size (SIZE), debt policy (DER), and profitability (ROA) had a significant effect on firm value (Tobin’s Q). While partially firm size (SIZE) does not have a significant effect on the positive direction of firm value. Debt policy (DER) does not have a significant effect on the positive direction of firm value. Profitability (ROA) has a significant effect on the positive direction of firm value.Keywords. Firm Size, Debt Policy, Profitability, Firm ValueAbstrak. Penelitian ini bertujuan untuk mengetahui pengaruh ukuran perusahaan (SIZE), kebijakan hutang (DER), dan profitabilitas (ROA) terhadap nilai perusahaan (Tobin’s Q) pada perusahaan manufaktur sektor industri dasar dan kimia yang terdaftar di Bursa Efek Indonesia tahun 2013-2017. Teknik pengambilan sampel yang digunakan yaitu perposive sampling dan diperoleh 39 perusahaan dengan periode penelitian selama 5 tahun, sehingga diperoleh 195 data sampel. Metode analisis data dalam penelitian ini adalah analisis regresi data panel dengan menggunakan software eviews 9. Hasil penelitian menunjukkan secara simultan ukuran perusahaan (SIZE), kebijakan hutang (DER), dan profitabilitas (ROA) berpengaruh signifikan terhadap nilai perusahaan (Tobin’s Q). Sedangkan secara parsial ukuran perusahaan (SIZE) tidak berpengaruh signifikan dengan arah positif terhadap nilai perusahaan. Kebijakan hutang (DER) tidak berpengaruh signifikan dengan arah positif terhadap nilai perusahaan. Profitabilitas (ROA) berpengaruh signifikan dengan arah positif terhadap nilai perusahaan.Kata kunci. Ukuran Perusahaan, Kebijakan Hutang, Profitabilitas, Nilai Perusahaan
Pengaruh Tingkat Inflasi, Nilai Tukar Rupiah, Tingkat Suku Bunga da Pertumbuhan Ekonomi terhadap Indeks Harga Saham Gabungan Indriati, Mifta; Dillak, Vaya Juliana; Zultilisna, Djusnimar
JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi) Vol 3 No 2 (2019): Vol 3 No 2 Agustus 2019
Publisher : Accounting Study Program, Faculty of Economics and Business, Langlangbuana University Bandung

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Abstract

Indeks Harga Saham Gabungan diartikan sebagai sebuah indeks yang merangkum perkembangan harga-harga yang ada di Bursa Efek Indonesia. Indeks Harga Saham Gabungan menjadi salah satu indikator yang digunakan untuk menilai kondisi pasar secara umum untuk mengukur apakah harga saham di Indonesia mengalami kenaikan atau penurunan. Penelitian ini bertujuan untuk menguji pengaruh Inflasi, Nilai Tukar Rupiah, Tingkat Suku Bunga, dan Pertumbuhan Ekonomi terhadap Indeks Harga Saham Gabungan di Bursa Efek Indonesia. Populasi dalam penelitian ini adalah seluruh data triwulanan Indeks Harga Saham Gabungan selama periode 2009-2018. Teknik pemilihan sampel menggunakan teknik sampling total atau sensus. Sampel dalam penelitian ini adalah data triwulanan Indeks Harga Saham Gabungan sebanyak 4 data pertahun selama 10 tauhn sehingga didapat 40 sampel yang diobservasi. Teknik analisis yang digunakan dalam penelitian ini adalah analisis regresi linier berganda dengan menggunakan aplikasi Eviews Versi 9.0. Hasil penelitian menunjukkan bahwa secara simultan Inflasi, Nilai Tukar Rupiah, Tingkat Suku Bunga dan Pertumbuhan Ekonomi berpengaruh terhadap IHSG.  Sedangkan secara parsial, Inflasi dan Pertumbuhan Ekonomi tidak berpengaruh terhadap IHSG, nilai tukar rupiah berpengaruh dengan arah positif terhadap indeks harga saham IHSG dan  tingkat suku bunga berpengaruh dengan arah negatif terhadap IHSG. Sehingga tingkat suku bunga dan nilai tukar rupiah dapat menjadi pertimbangan karena dapat mempengaruhi pergerakan Indeks Harga Saham Gabungan.
FINANCIAL DISTRESS, KEPEMILIKAN INSTITUSIONAL, PROFITABILITAS TERHADAP KONSERVATISME AKUNTANSI Syifa, Hasby Muhammad; Kristanti, Farida Titik; Dillak, Vaya Juliana
JRAK Vol 9 No 1 (2017): April 2017
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (258.973 KB) | DOI: 10.23969/jrak.v9i1.361

Abstract

Financial report describes the performance of a company. Accounting conservatism makes accountants have to note the possibility of losses as soon as possible and also note the profit when it is realized. This study aims to analyze the effect of financial distress, institutional ownership, and the profitability towards accounting conservatism. The population in this study is the food and beverages companies that listed in IDX (Indonesia Stock Exchange) in 2011-2015. The sampling method used in this research is purposive sampling method, in which the population sample are the companies that publishing its financial reports and annual reports for 5 periods started from 2011 to 2015. In the result, it is obtained a sample of 8 companies with 40 units of observation data. The analysis method of data analysis used is panel of data regression analysis. The results of this study showed that simultaneous variable financial distress, institutional ownership, and profitability have significantly influenced to accounting conservatism. Furthermore, in partial variable, financial distress and profitability have positive impact to accounting conservatism. Meanwhile, institutional ownership variable has no impact to accounting conservatism.
PROFITABILITAS, LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP PERATAAN LABA Nugraha, Pandu; Dillak, Vaya Juliana
JRAK Vol 10 No 1 (2018): Edisi April
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (729.445 KB) | DOI: 10.23969/jrak.v10i1.1061

Abstract

Income smoothing is an action performed by the company’s management in order to reduce fluctuations earnings This is done with the motivation to show good performance to investors, by showing stable corporate profits. Income smoothing is done by adding or reducing the company’s actual profit, to be moved to certain period. This study used a quantitative research method. Purposive sampling method was used, that is 59 samples in the period of 3 years. Therefore, the obtained samples were amounted to be 177 in total. Logistic regression analysis was used. The result showed that profitability, leverage and firm size have influence simultaneously significant to income smoothing. Partially, profitability have a positive effect, while the leverage and firm size do not have an effect to income smoothing.
ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI DIVIDEN KAS Mutia, Anisa; Dillak, Vaya Juliana
Aksara Public Vol 2 No 4 (2018): Desember (2018)
Publisher : EDUTECH CONSULTANT

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Abstract

This study aims to explain how Earning per share (EPS), Quick Ratio, Operating Cash Flow, Debt to Equity Ratio, Company Size and Cash Dividend and to find out whether there are simultaneous and partial effects between Earning per Share, Quick Ratio, Cash Flow Operations, Debt to Equity Ratio and Company Size to Cash Dividends in all manufacturing companies registered at Butsa Efek Indonesia for the period 2013-2016. This study uses quantitative methods. The sampling technique used was purposive sampling technique. The sample in this study was 92 samples in 4 years. The analysis technique used is multiple linear regression analysis using SPSS version 20. Based on the results of the study, variables Earning per Share (EPS), Quick Ratio, Operating Cash Flow, Debt to Equity Ratio, and Company Size simultaneously have a significant effect on Cash Dividend. Partially, the variable Earning per Share (EPS) and Company Size have a positive effect on cash dividends, the variable Debt to Equity Ratio has a negative effect on Cash Dividends. While the Quick Ratio variable and operating cash flow variables do not affect the Cash Dividend.
PENGARUH KEBIJAKAN PENDANAAN, KEBIJAKAN DIVIDEN, MANAJEMEN ASET DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (Studi Kasus pada Perusahaan Manufaktur Terdaftar di Bursa Efek Indonesia Periode 2014-2017) Nada, Aprilia Qathrun; Dillak, Vaya Juliana
Aksara Public Vol 2 No 4 (2018): Desember (2018)
Publisher : EDUTECH CONSULTANT

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Abstract

This study aims to determine the effect of funding policy (DER), dividend policy (DPR), asset management (FATO), and company size (SIZE) on company value (PBV) in manufacturing companies listed on the Indonesia Stock Exchange in 2014-2017. The data used in this study was obtained from financial report data taken from the official website of the Indonesia Stock Exchange. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2014-2017. The sampling technique used is perposive sampling and obtained 36 companies with a research period of 4 years, thus obtaining 144 sample data. The method of data analysis in this study is panel data regression analysis using software eviews 9.0. The results showed that simultaneous funding policy (DER), dividend policy (DPR), asset management (FATO), and company size (SIZE) had a significant effect on firm value (PBV). While partially funding policy (DER) has a significant effect on the negative direction of firm value. Dividend policy (DPR) does not significantly influence the negative direction of firm value. Asset Management (FATO) does not have a significant effect on the negative direction of firm value. Firm size (SIZE) does not have a significant effect on the positive direction of firm value.
ARUS KAS OPERASI, LEVERAGE, SALES GROWTH TERHADAP FINANCIAL DISTRESS Fitri, Melsa Aninda; Dillak, Vaya Juliana
JRAK Vol 12 No 2 (2020): Edisi Oktober
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrak.v12i2.3039

Abstract

The purpose of this study is to determine how the influence of operating cash flow, leverage and sales growth ratios on the occurrence of financial distress. The research method used in this study is a quantitative method. While the data collection techniques used in this study are purposive sampling. The population in this study is the textile and garment subsector companies listed on the Indonesia Stock Exchange in 2015-2018 as many as 14 companies with observational data of 56 samples. This study uses panel data regression analysis techniques. Simultaneous variable operating cash flow, leverage, and sales growth have a significant effect on financial distress. And then, leverage has a significant effect on financial distress. While the operating cash flow and sales growth partially did not have significant effect on financial distress.
PENGARUH INVESTMENT OPPORTUNITY SET,COLLATERAL ASSET,MANAGERIAL OWNERSHIP, INSTITUTIONAL OWNERSHIP TERHADAP KEBIJAKAN DIVIDEN (Studi Kasus Perusahaan Industri Barang Konsumsi Periode 2015-2019) putri, annisa; Dillak, Vaya Juliana
Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan Vol. 4 No. Spesial Issue 1 (2021): Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan
Publisher : Departement Of Accounting, Indonesian Cooperative Institute, Indonesia

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Abstract

This study aims to determine the effect of investment opportunity sets,collateral assets, managerial ownership, and institutional debt on dividendpolicy in consumer goods industrial sector companies listed on theIndonesia Stock Exchange for the 2015-2019 period. The technique used inthis research is purposive sampling. The samples obtained were 18 sampleswith a five year research period so that in this study 90 data were obtained.The method used was multiple linear regression analysis using SPSS 25software.The results show that simultaneously investment opportunity set,collateral asset, managerial ownership, and institutional ownership havean effect on dividend policy. While partially the investment opportunity sethas a positive effect on dividend policy, collateral assets have a negativeeffect on dividend policy, while managerial ownership and institutionalownership have no effect on dividend policy..