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Examining the Effects of Presentation Patterns, Orders, and Information Types in Investment Decision Making Nahartyo, Ertambang; Supriyadi, .; Hartono, Jogiyanto; Almilia, Luciana Spica
Gadjah Mada International Journal of Business Vol 15, No 2 (2013): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

This study aims to investigate the existence of Belief Model (BAM) developed by Hogarth and Einhorn (1992) in investment decision making. Particulary, this study examined: the effects of presentation patterns, presentation orders, and information types (accounting or non-accounting information) in investment decision making. This study used laboratory experiment to test the hypotheses. Hypotheses were tested using t-test. This study showed a “judgement bias” that is a recency which the effect of presentation pattern is consecutive is higher than unconsecutively.                  
FINANCIAL AND NON-FINANCIAL FACTORS INFLUENCING INTERNET FINANCIAL AND SUSTAINABILITY REPORTING (IFSR) IN INDONESIA STOCK EXCHANGE Almilia, Luciana Spica
Journal of Indonesian Economy and Business Vol 25, No 2 (2010): May
Publisher : Journal of Indonesian Economy and Business

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Abstract

Internet Financial and Sustainability Reporting (IFSR) is voluntary in nature. With no specific regulations on IFSR, there is a disparity of IFSR practices among companies.Some companies disclose only partial financial statement using a low level of technology, while others disclose full sets of financial reports using sophistications of the web such as multimedia and analytical tools. Sustainability (1999) addressed the benefits (global reach, immediacy, ease of updating, transparency, link ability, and interactivity) ofreporting social and environmental information on the website and thus the factors that affect decision of whether or not to use this communication medium. By placinginformation on the firm’s website, users can search, filter, retrieve, download, and even reconfigure such information at low cost in a timely fashion.The purpose of this study was to examine financial variables that affect Internet Financial and Sustainability Reporting (IFSR) of listed in Indonesia Stock Exchange companies. The ordinal logistic regression used to examine variables that affect Internet Financial and Sustainability Reporting (IFSR). The sample of this research is companies that listed in Indonesia Stock Exchange. The 203 observations were divided into three categories: 87 companies not providing financial and sustainability report in the internet (No website), 62 companies providing financial and sustainability report in the internet with low index (Low Index) and 54 companies providing financial and sustainability reportin the internet with high index (High Index). The result shows that firm size, majority shareholders, auditor size and industry type as a determinant factor of internet financialand sustainability-reporting index in Indonesia, whereas leverage and profitability not statistically significant as determinant factors of internet financial and sustainabilityreporting index in Indonesia.Keywords: internet financial reporting, website, traditional financial reporting, internet, financial statement, voluntary disclosure.
ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI STATUS PERUSAHAAN PASCA IPO DENGAN ANALISIS MULTINOMIAL LOGIT Almilia, Luciana Spica; Silvy, Meliza
Journal of Indonesian Economy and Business Vol 18, No 4 (2003): October
Publisher : Journal of Indonesian Economy and Business

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Abstract

This research has a purpose to provide empirical evident about factors that affect firms status after IPO. The examined factors on this research are firm characteristics including financial ratio, industry structure, firm’s sensitivity to macroeconomic variables, underwriter reputation and ownership structure.The samples consist of 84 firms which had positive net income, positive equity book value and still listed until 2002; 24 firms which had negative net income from 2000 through 2001 and still listed; 48 firms which had negative net income and negative equity book value from 2000 through 2001 and still listed; and 19 firms which delisted from 1999 through 2002. Moreover, it is chosen by purposive sampling. The statistic method used to test on the research hypothesis is multinomial logit regression. Indirect method and direct method technique is used to gain a model that has the highest classification power in determination firms status after IPO.The result show that direct method had a higher classification power rather than indirect method. This research also indicate that firm characteristic include financial ratio, industry structure, firm’s sensitivity to macroeconomic variables, and underwriter reputation is a significant variables in determination firms status after IPOKeywords: financial distress, financial ratios, multinomial logit, macroeconomic variable
ANALISIS KANDUNGAN INFORMASI DAN EFEK INTRA INDUSTRI PENGUMUMAN STOCK SPLIT YANG DILAKUKAN OLEH PERUSAHAAN BERTUMBUH DAN TIDAK BERTUMBUH Almilia, Luciana Spica; Kristijadi, Emanuel
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

The objective of this research is to examine empirically about the information contentand intra industry effect of stock split announcement. The analysis include three aspects:information content, risk (beta) and intra industry effect of stock split announcement bygrowth firm and not growth firm.The sample of this research is 79 reporter firm (consist of 59 growth firm and 20 notgrowth firm) and 166 non reporter firms during the period of 1997 – 2002. The result ofthis research show that stock split has information content which is negatively respondendand statistically significant responded by the market around the date of stock splitannouncement. The difference between beta growth firms and not growth firms after stocksplit announcement is significant. The intra industry effect of stock split announcement iscompetitive effect.Keywords: stock split, intra industry effect, competitive effect, information content
POLA PENYAJIAN INFORMASI DAN KEPUTUSAN INVESTOR YANG IRASIONAL Herla Kusumawardhani; Luciana Spica Almilia
Jurnal Bisnis dan Ekonomi Vol 22 No 2 (2015): Vol. 22 No. 2 EDISI SEPTEMBER 2015
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Stikubank

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Abstract

This study aims to examine the difference between the participants' investment decisions that informed good news followed by bad news rather than participants who informed bad news followed by good news on the pattern of presentation of Step by step and length series information. Design of Experiments in this study is 1x1x2 which is pattern of presentationf Step by step (SBS), a series of information length, and direction of evidence information (good news followed by bad news and bad news followed by good news). The hypothesis in this study were tested with the Mann-Whitney U test. The results from this study indicate that there is no difference between participants investment decisions that were informed of good news followed by bad news than participants who informed good news followed by bad news in the presentation of SBS meanwhile in series pattern length information in the investment decision-making. This suggests that investment decisions taken by investors is as Irrational. Non-compliance results with the theory that in acu caused by four factors that affect the internal validity of such selection, maturation, history, and testing.Keywords: Step by step; Sbs; No order Effect; Investment Decision.
ANALISIS FAKTOR YANG MAMPU MEMPREDIKSI KONDISI FINANCIAL DISTRESS PADA BANK GO PUBLIC PERIODE 2007-2011 Emil Pratiwi; Luciana Spica Almilia
Jurnal Bisnis dan Ekonomi Vol 21 No 1 (2014): vol. 21 no. 1 EDISI MARET 2014
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Stikubank

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Abstract

Financial distress precedes bankruptcy. Most financial distress models actually rely on bankruptcy data, which is easier toobtain. The purpose of this research to examine financial ratios that affect financial distress condition of a bank. Theindependen variable which is used to test on research is CAR, NPL,ROA, ROE, LDR,and IRR. The sample of this researchconsist of 100 banks, chosen by purposive sampling. The statistic method which is used to test on the research hypothesis islogistic regression. This research used 7 logistic regression model from Zaki’s research had developed.The result showthat NPL, ROA, and ROE is a significant variable to determine of financial distress banks.Keywords: financial distress, financial ratios, logistic regression, bankruptcy.
INTERNET FINANCIAL REPORTING: STUDI KOMPARASI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA DAN BURSA EFEK MALAYSIA Emma Handayani; Luciana Spica Almilia
Jurnal Bisnis dan Ekonomi Vol 20 No 2 (2013): Vol. 20 no. 2 EDISI SEPTEMBER 2013
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Stikubank

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Abstract

Purpose of this research to know the difference quality internet financial reporting of manufacturing companies listed in Indonesia and Malaysia stock exchange. Sample for this research is website of manufacturing company are listed onIndonesia and Malaysia stock exchange. The research methods was using index internet financial reporting. The methods of data analysis was using descriptive analysis and mann whitney test. One of the survey findings was that listedmanufacturing companies in Indonesia stock exchange have a greater index internet financial reporting than Malaysia. Another major finding was that listed manufacturing companies in Indonesia and Malaysia stock exchange have a sameindex of content and technology. Another major finding was that listed manufacturing companies in Indonesia and Malaysia stock exchange have a difference index of timeliness and user support.Keyword : internet financial reporting, Malaysia, Indonesia, content, timeliness, technology, user support.
The Comparison of Investment Decision Frame and Belief-adjustment Model on Investment Decision Making Almilia, Luciana Spica; Wulanditya, Putri; Nita, Riski Aprilia
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (613.323 KB) | DOI: 10.26905/jkdp.v22i3.1880

Abstract

Investors sometimes performed the irrational behavior in the stock market. Framing indicated that decision maker would respond with different ways on the problem of the similar decision if the problem was presented in different format. Framing effect was need to be wary because it can created bias in decision making.  We examined investment decision making based on belief-adjustment model and investment decision frame.  The research method a mixed design experiment (between and within subject). Research participants in this research were non-professional investors.  The numbers of participants in this research were 113 people.  We found that participants gave a different response when receiving non-accountancy information (expressive decision frame) with different presentation patterns that were step-by-step and end-of-sequence. The other findings of these research showed that there was no different response between participants receiving accountancy information (financial decision frame) and participants receiving non-accountancy information (expressive decision frame) in end-of-sequence presentation pattern.  However, when participants received accountancy information compared to non-accountancy information in step-by-step presentation pattern, it showed that there was a different response. The overall results of the study indicated that the investment decision frame affects the investment decision making when the information presentation pattern was step-by-step.JEL Classification: D82, G11DOI: https://doi.org/10.26905/jkdp.v22i3.1880
The Effect of Overconfidence and Experience on Belief Adjustment Model in Investment Judgement Almilia, Luciana Spica; Wulanditya, Putri
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 9, No 1 (2016): April - July 2016
Publisher : Universitas Prasetiya Mulya

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Abstract

Faktor-faktor yang Mempengaruhi Pengungkapan Sukarela “Internet Financial and Sustainability Reporting” Luciana Spica Almilia
Jurnal Akuntansi dan Auditing Indonesia Vol. 12 No. 2 (2008)
Publisher : Accounting Department, Faculty of Business and Economics, Universitas Islam Indonesia

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Abstract

Internet Financial and Sustainability Reporting (IFSR) is voluntary in nature. With no specific regulations on IFSR, there is a disparity of IFSR practices among companies. Some companies disclose only partial financial statement using a low level of technology, while others disclose full sets of financial reports using sophistications of the web such as multimedia and analytical tools. SustainAbility (1999) addressed the benefits (global reach, immediacy, ease of updating, transparency, link ability, and interactivity) of reporting social and environmental information on the website and thus the factors that affect decision of whether or not to use this communication medium. By placing information on the firm’s website, users can search, filter, retrieve, download, and even reconfigure such information at low cost in a timely fashion.The purpose of this study was to examine financial variables that affect Internet Financial and Sustainability Reporting (IFSR) in Indonesia Stock Exchange companies. The samples of this research include 104 listed firms in Indonesia Stock Exchange. The multiple regressions was used to examine variables that affect Internet Financial and Sustainability Reporting (IFSR). The sample of this research is companies that listed in Indonesia Stock Exchange companies. The findings of this research found that firm size, return on asset, and majority holder are determinant factors of IFSR index in Indonesia.Keywords:    internet, internet sustainability reporting, internet financial reporting, company website