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All Journal Journal of Indonesian Economy and Business Jurnal Manajemen dan Usahawan Indonesia Indonesian Capital Market Review JMUI
Rizky Luxianto
Faculty Of Economics And Business, Universitas Indonesia
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences

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Analisis Faktor-Faktor Produktivitas Usaha Tambak Udang L.Vannamei: Studi Kasus pada Desa Bumi Pratama Mandira, Kecamatan Sungai Menang, Sumatera Selatan Raka Respati Respati Priyambodo; Rizky Luxianto
Jurnal Manajemen dan Usahawan Indonesia Vol 43, No 1 (2020): Jurnal Manajemen dan Usahawan Indonesia
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Indonesia

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Abstract

Potensi ekonomi yang besar dari industri budidaya perairan Indonesia khususnya pada spesies L.vannamei membuat pemilihan metode budidaya yang tepat untuk memaksimalkan tingkat produktivitas menjadi vital. Desa Bumi Pratama Mandira di Kecamatan Sungai Menang, Sumatera Selatan adalah sebuah daerah yang kegiatan utama perekonomiannya berasal dari kegiatan berbudidaya udang L.vannamei. Dengan lokasi daerah yang terpencil dan dengan keterbatasan akses yang ada, menyebabkan petambak menghadapi kondisi yang unik dan semakin menambah urgensi pentingnya memilih metode budidaya yang tepat agar mampu memaksimalkan pendapatan. Penelitian ini akan melakukan evaluasi terhadap tiga metode budidaya (Ekstensif, Ekstensif Plus, Semi Intensif) yang umum digunakan oleh petambak udang di daerah tersebut. Evaluasi dilakukan dengan membandingkan variabel produksi/m2 , pendapatan/m2 dan juga laba/m2 dari ketiga metode budidaya menggunakan uji beda rata – rata. Hasil uji beda rata – rata mengindikasikan bahwa meskipun ada perbedaan signifikan untuk variabel produksi/m2 dan pendapatan/ m2 , namun tidak terdapat perbedaan untuk variabel laba/m2 . Sementara itu, Hasil uji regresi menunjukkan hubungan linear positif yang signifikan antara variabel penggunaan pakan, penggunaan obat dan frekuensi penggunaan kincir terhadap tingkat produktivitas, dan hubungan kuadratik antara tingkat densitas bibit dengan tingkat produktivitas dengan titik optimum densitas bibit berada pada 25PL/m2.
Day-of-the-Week Effect and Investors’ Psychological Mood Testing in a Highly Mispriced Capital Market Rizky Luxianto; Usman Arief; Muhammad Budi Prasetyo
Journal of Indonesian Economy and Business (JIEB) Vol 35, No 3 (2020): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.54377

Abstract

Research Aims: This research examines investors’ psychological moods which cause day-of-the-week anomalies in highly mispriced stock markets. Design/methodology/approach: We use a sample from the Indonesian capital market as, in the Asian region, this country is considered to have a highly mispriced capital market. We decompose the stock price index in Indonesia into speculative, less speculative, and non-speculative indexes. We employ the mean and variance regressions to control the heteroscedasticity and serial correlation. Novelties: Our novelties are two fold. We postulate a method to decompose stock price indexes in Indonesia (the JKSE, LQ 45, and Kompas 100) into speculative, less speculative, and non-speculative indexes. Secondly, we estimate the mean and variance levels simultaneously to get a robust estimation result of the anomaly. Research Findings: We empirically find that the behavior mood hypothesis is supported only during normal periods, when investors tend to be irrational and use their good mood to trade on speculative stocks on a Wednesday and sell them on Monday. In other periods, rationality and psychological effects play a role with Indonesian investors, when their mood is good they are more active in trading less speculative stocks, to avoid higher risks and earn higher returns from those less speculative and non-speculative stocks.
Early Warning System in ASEAN Countries Using Capital Market Index Return: Modiied Markov Regime Switching Model Wahyudi, Imam; Luxianto, Rizky; Suryaputri, Niken Iwani; Sulung, Liyu Adhika Sari
The Indonesian Capital Market Review Vol. 3, No. 1
Publisher : UI Scholars Hub

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Abstract

Asia's financial crisis in July 1997 affects currency, capital market, and real market throughout Asian countries. Countries in southeast region (ASEAN), including Indonesia, Malaysia, Philippines, Singapore, and Thailand, are some of the countries where the crisis hit the most. In these countries, where financial sectors are far more developed than real sectors and the money market sectors, most of the economic activities are conducted in capital market. Movement in the capital market could be a proxy to describe the overall economic situation and therefore the prediction of it could be an early warning system of economic crises. This paper tries to investigate movement in ASEAN (Indonesia, Malaysia, Philippines, Singapore, and Thailand) capital market to build an early warning system from financial sectors perspective. This paper will be very beneficial for the government to anticipate the forthcoming crisis. The insight of this paper is from Hamilton (1990) model of regime switching process in which he divide the movement of currency into two regimes, describe the switching transition based on Markov process and creates different model for each regimes. Differ from Hamilton, our research focuses on index return instead of currency to model the regime switching. This research aimed to ind the probability of crisis in the future by combining the probability of switching and the probability distribution function of each regime. Probability of switching is estimated by categorizing the movement in index return into two regimes (negative return in regime 1 and positive return in regime 2) then measuring the proportion of switching to regime 1 in t given regime 1 in t-1 (P11) and to regime 2 in t given regime 2 in t-1 (P22). The probability distribution function of each regime is modeled using t-student distribution. This paper is able to give signal of the 1997/8 crisis few periods prior the crisis.
Comparison in Measuring Effectiveness of Momentum and Contrarian Trading Strategy in Indonesian Stock Exchange Luxianto, Rizky
The Indonesian Capital Market Review Vol. 3, No. 2
Publisher : UI Scholars Hub

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Abstract

This paper wants to explore the effectiveness of momentum or contrarian strategy in Indonesian Stock Exchange using different methods in measuring the performance. The point of momentum or contrarian strategy is selecting winner (stocks with highest gain) or loser stocks (stocks with highest loss) and then buy or sell it based on the research result. This research employed three methods in measuring performance to select winner and loser stocks. The irst method used cross section relative return, while the second method used cross section relative return plus risk component (return divided by standard deviation), and the third method employed historical relative return instead of cross section. The result is that, all of those three methods prove that momentum strategy is effectively applicable for winner stock, so in the next period winner stock will continue to make profit, while for loser stock, it is more effective to use contrarian strategy because in the next period, loser stock will rebound and make proit after suffering from high loss
Analisis Faktor-Faktor Produktivitas Usaha Tambak Udang L.Vannamei: Studi Kasus pada Desa Bumi Pratama Mandira, Kecamatan Sungai Menang, Sumatera Selatan Priyambodo, Raka Respati; Luxianto, Rizky
Jurnal Manajemen dan Usahawan Indonesia Vol. 43, No. 1
Publisher : UI Scholars Hub

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Abstract

The large economic potential of Indonesian aquaculture industry, especially in L.vannamei species, shows how vital it is to decide the correct aquaculture methods to maximize productivity. Bumi Pratama Mandira Village in Sungai Menang Region, South Sumatra is an area whose main economic activity comes from shrimp farming activity and mostly cultivating L.vannamei. The village located in one of the most remote regions in South Sumatra, limiting farmer access and present them with unique conditions for shrimp farming. This uniqueness raising the urgency to select the correct methods to sustain the entire village economic conditions. This study will evaluate three cultivation methods (Extensive, Extensive Plus and Semi Intensive) which are commonly used by shrimp farmers in the area. Evaluation is done by com- paring variables which is consisted of production/m2, income m2 and profit/m2 from each of the cultivation methods using the student’s or welch t-test. The results of the t-test indicate that although there are signifi- cant differences for production/m2 and income/m2, there is no difference for the profit/m2. Meanwhile, the regression test showed a significant positive and linear relationship between the variables of feed usage, drug usage and the frequency of water mill use to the level of productivity, and the quadratic relationship between the level of stocking density with the level of productivity with the optimum point of stocking den- sity at 25PL / m2.
Co-Authors Imam Wahyudi Indrawan, Imam Wahyudi Muhammad Budi Prasetyo Muhammad Budi Prasetyo Niken Iwani S. Putri Priyambodo, Raka Respati Rahmat Aryo Baskoro Raka Respati Respati Priyambodo Sulung, Liyu Adhika Sari Suryaputri, Niken Iwani Usman Arief Wardatul Adawiyah