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FAKTOR – FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PADA INDUSTRI PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BEI PERIODE 2008-2011 Finky, Uung Victoria; Wijaya, Liliana Inggrit; Ernawati, Endang
CALYPTRA : Jurnal Ilmiah Mahasiswa Universitas Surabaya Vol 2, No 2 (2013): CALYPTRA : Jurnal Ilmiah Mahasiswa Universitas Surabaya
Publisher : University of Surabaya

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Abstract

Penelitian ini bertujuan untuk mengetahui faktor – faktor apa saja yang mempengaruhi struktur modal pada badan usaha property dan real estate yang terdaftar di Bursa Efek Indonesia periode 2008 – 2011. Teori yang terkait ialah trade-off theory, pecking order theory, dan agency theory. Penelitian inimenggunakan pendekatan kuantitatif model Pooled Least Square (PLS). Penelitian ini menggunakan objek penelitian berupa badan usaha property dan real estate yang terdaftar di Bursa Efek Indonesia periode 2008 – 2011. Jumlah objek penelitian yang digunakan adalah sebesar 25 badan usaha. Temuan penelitian ini yaitu variabel size, growth, dan asset structure berpengaruh positif signifikan terhadap struktur modal. Di lain sisi, variabel profitability dan variabelliquidity berpengaruh negatif signifikan terhadap struktur modal.
RISIKO, PROFITABILITAS, PERTUMBUHAN ASET, DAN ASET TETAP TERHADAP KEBIJAKAN DIVIDEN DAN KEBIJAKAN UTANG ., Michael; Wijaya, Liliana Inggrit
Journal of Management and Business Vol 9, No 2 (2010): SEPTEMBER 2010
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (320.78 KB) | DOI: 10.24123/jmb.v9i2.165

Abstract

The aim of this study is to analyze the factors that influence financing policy. Financing policy as the independent variable consist of dividend anddebt policies. The factors that influence the dividend policy are business risk, profitability, and growth. Debt policy influence by dividend, business risk,profitability, and fixed asset. Toestimate relation between these factors, this study used Seemingly Unrelated Regression (SUR) because the debt and dividend model have same error term. Research object are companies in manufacture industry that listing in Indonesian stock Exchange that paid dividend in minimum 4 periods in research periods. The result of the analysis indicates that profitability have a significant influence toward dividend policy. Result for debt policy are business risk, profitability, and fixed asset have a significant influence toward debt policy. The result also shows that profit has positive significant effect to dividend, which indicates the ability of the firm to pay higher dividend while their profit increased. Risk and profit also show positive effect to debt. Firms with higher profit will have higher debt, however their risk also increased in significant positive relationship.
TEORI PECKING ORDER PADA KONDISI HIGH UNCERTAINTY DAN LOW UNCERTAINTY Oetama, Kumiati; Marciano, Deddy; Wijaya, Liliana Inggrit
Journal of Management and Business Vol 7, No 1 (2008): MARCH 2008
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (10074.676 KB) | DOI: 10.24123/jmb.v7i1.121

Abstract

Artikel ini meneliti teori Pecking Order selama periode ketidakpastian tinggi dan ketidakpastian rendah di Indonesia. Hasil menunjukan selama periode ketidakpastian tinggi (dari 1997 sampai 2000), beberapa variabel seperti dividend yield, profitabilitas, sales growth dan total assets growth merupakan faktor penting keputusan pendanaan. Selain variabel diatas, ditemukan bahwa intensitas modal juga berpengaruh terhadap pendanaan selama periode ketidakpastian rendah (dari 2001 sampai 2004). Hasil penelitian mengkonfirmasikan ramalan dari hipotesis Pecking Order
FAKTOR – FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PADA INDUSTRI PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BEI PERIODE 2008-2011 Uung Victoria Finky; Liliana Inggrit Wijaya; Endang Ernawati
CALYPTRA Vol. 2 No. 2 (2014): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (122.348 KB)

Abstract

Penelitian ini bertujuan untuk mengetahui faktor – faktor apa saja yang mempengaruhi struktur modal pada badan usaha property dan real estate yang terdaftar di Bursa Efek Indonesia periode 2008 – 2011. Teori yang terkait ialah trade-off theory, pecking order theory, dan agency theory. Penelitian ini menggunakan pendekatan kuantitatif model Pooled Least Square (PLS). Penelitian ini menggunakan objek penelitian berupa badan usaha property dan real estate yang terdaftar di Bursa Efek Indonesia periode 2008 – 2011. Jumlah objek penelitian yang digunakan adalah sebesar 25 badan usaha. Temuan penelitian ini yaitu variabel size, growth, dan asset structure berpengaruh positif signifikan terhadap struktur modal. Di lain sisi, variabel profitability dan variabel liquidity berpengaruh negatif signifikan terhadap struktur modal.
PENGARUH PROFITABILITY, TANGIBILITY, SIZE, GROWTH, DAN LIQUIDITY TERHADAP LEVERAGE BADAN USAHA YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011-2015 Ayrin Corina; Werner Ria Murhadi; Liliana Inggrit Wijaya
CALYPTRA Vol. 6 No. 2 (2018): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh variabel profitability, tangibility, size, growth, dan liquidity sebagai variabel independen terhadap leverage badan usaha sebagai variabel dependen pada semua sektor yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2015. Penelitian ini menggunakan pendekatan linier dengan model analisis regresi linear berganda dalam bentuk data panel untuk keseluruhan data observasi yang digunakan. Jumlah observasi pada penelitian ini sebanyak 1640 yang terdiri dari 328 perusahaan yang terdaftar di BEI periode 2011 – 2015. Hasil penelitian menunjukkan bahwa variabel tangibility dan size berpengaruh signifikan dengan arah hubungan positif terhadap leverage, sedangkan variabel profitability, growth, dan liquidity memiliki pengaruh tidak signifikan dengan arah hubungan negatif terhadap leverage badan usaha pada semua sektor yang terdaftar di BEI periode 2011 – 2015.
ANALISIS PENGARUH MODEL FAMA AND FRENCH THREE FACTOR MODEL DAN MOMENTUM TERHADAP RETURN DI BURSA EFEK INDONESIA PERIODE 2010-2014 Reynaldi Kalata Hendra; Werner Ria Murhadi; Liliana Inggrit Wijaya
CALYPTRA Vol. 6 No. 1 (2017): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (September)
Publisher : Perpustakaan Universitas Surabaya

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Abstract

Abstrak – Penelitian ini bertujuan untuk menguji keberadaan dan pengaruh Fama and French Three Factor Model dan Momentumterhadap return pada perusahaanperusahaan yang terdaftar di BEI periode 2010-2014.Temuan penelitian menunjukkan bahwa market return berpengaruh positif signifikan terhadap return baik secara simultan maupun terhadap return masing-masing portofolio. Size berpengaruh negatif signifikan terhadap return secara simultan, kemudian terhadap return masing-masing portofolio, size juga memiliki pengaruh negatif signifikan dimana return portofolio dengan size kecil lebih besar dibandingkan return portofolio dengan size besar. Book-to-market equity berpengaruh negatif tidak signifikan terhadap return secara simultan. Sedangkan terhadap masingmasing portofolio, book-to-market equity berpengaruh positif signifikan hanya pada portofolio dengan size kecil saja. Faktor momentum tidak berpengaruh secara signifikan terhadap return baik secara simultan maupun terhadap masing-masing portofolio. Kata kunci:Fama and French Three Factor Model, Momentum, Size Effect, Value Effect Abstract - The objective of this study is to examine the presence and effect of Fama and Franch Three Factor Model and momentum to the return on companies listed in IDX period 2010-2014. The study findings show that market returns has significant positive effect on return both simultaneously or on return of each portofolio. Size has significant negative effect on return simultaneously, size also has a significant negative effect where the return of portofolio with small size is greater than the return of portofolio with large size. Book-to-market equity has insignificant negative effect on the return simultaneously. As against each portofolio, book-to-market equity has significant positive effect only on the portofolio with a small size. Momentum factor did not significantly affect return either simultaneously or to each of portofolio. Keywords: Fama and French Three Factor Model, Momentum, Size Effect, Value Effect
PENGARUH HUTANG TERHADAP PROFITABILITY PADA PERUSAHAAN SEKTOR INFRASTRUCTURE, UTILITIES, AND TRANSPORTATION DI BEI PERIODE 2010 – 2014 Yohan Prasetyo; Liliana Inggrit Wijaya; Bertha Silvia S.
CALYPTRA Vol. 6 No. 1 (2017): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (September)
Publisher : Perpustakaan Universitas Surabaya

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Abstrak - Penelitian ini bertujuan untuk menguji short terms debt to total asset, long term debt to total asset , total debt to total asset, debt to equity ratio sebagai variabel independen serta sales growth dan size sebagai variabel kontrol terhadap profitability pada perusahaan sektor di Bursa Efek Indonesia (BEI) periode 2010- 2014. Variabel-variabel yang diuji ini adalah variabel-variabel yang dapat mempengaruhi penggunaan profitabilitas. Penelitian ini menggunakan pendekatan kuantitatif dengan model analisis regresi linier berganda. Penelitian ini menggunakan sampel berupa perusahaan/emiten yang berada di dalam sektor infrastructure,utilities and transportation di BEI periode 2010-2014. Jumlah sampel yang digunakan dalam penelitian ini sebanyak 35 emiten dengan 175 poin observasi pada dengan menggunakan syarat dan asumsi klasik Temuan penelitian menunjukkan bahwa short term debt to total asset berpengaruh positif signifikan terhadap profitability, long term debt to total asset berpengaruh positif signifikan terhadap profitability, total debt to total asset berpengaruh positif signifikan terhadap profitability, debt to equity ratio berpengaruh negatif signifikan terhadap profitability, size sebagai variabel kontrol juga memberikan kontribusi pengaruh terhadap variabel independen dan variabel dependen, sales growth sebagai variabel kontrol tidak memberikan kontribusi pengaruh terhadap variabel independen dan variabel dependen. Kata kunci: Capital structure, Profitability, Return on Equity, Sales growth, Size Abstract - This study aims to examine the effect of short terms debt to total asset, long term debt to total asset , total debt to total asset, debt to equity ratio as a independent variables with sales growth and size as a control variable on infrastructure,utilities and transportation industry sector in Indonesia Stock Exchange (IDX) with the period 2010-2014. The variables tested are the variables that can affect profitability. This study uses a quantitative approach to multiple linear regression analysis model. This study used data drawn from infrastructure,utilities and transportation companies listed on Indonesia Stock Exchange for the period 2010-2014. The samples used in this study were 35 companies with 175 observation points at first by using classical. The study findings suggest that short term debt to total asset significant positive effect on the profitability, long term debt to total asset significant positive effect on the profitability, total debt to total asset significant positive effect on the profitability, debt to equity ratio is significantly negative effect on the use of profitability, size as a control variable contributed effect againsts independent variable against the dependent variable, sales growth as a control variable not contributed effect againsts independent variable against the dependent variable. Keywords: Capital structure, Profitability, Return on Equity, Size
PENGARUH INFORMATION RISK TERHADAP COST OF CAPITALBADAN USAHA NON-KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2014 Shirlen Nathania Fuandy; Werner Ria Murhadi; Liliana Inggrit Wijaya
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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Abstract- The purpose of this research was to know the influence of information risk (accrual quality, beta, leverage, size, growth, ROA, interest coverage, and NIBE) as an independent variable to cost of debt and cost of equity as a dependent variable to company listed in Bursa Efek Indonesia period 2012-2014. There were total 249 observations in this research that consist of 83 companies, which were listed in Bursa Efek Indonesia period 2012-2014. The result of this research showed that accrual quality and leverage had a positive influence towards cost of equity, beta and size were negative towards cost of equity, while growth was not significant towards cost of equity. More results showed that accrual quality and size were positive towards cost of debt, while interest coverage and NIBE were negative; leverage and ROA were not affected by cost of debt of a company.
PENGARUH CAPITAL STRUCTURE TERHADAP PROFITABILITAS UJI MODEL KUADRATIK PADA PERUSAHAAN SEKTOR AGRIKULTUR YANG TERDAFTAR DI BEI PERIODE 2012-2016 Cellina Cellina; Putu Anom Mahadwartha; Liliana Inggrit Wijaya
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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This study aims to analyze the effect of capital stucture towards profitability using return on assets (ROA) as a proxy in agriculture sector companies listed in Indonesia Stock Exchange (BEI) in the period 2012-2016. This research uses quantitative approach with quadratic regression analysis model. This study uses sample of firms which are listed on agriculture sector in IDX on 2012- 2016. The number of final samples used in this study were 15 business entities with 75 observations. The study findings suggest that the TD variables have positive and significant effect towards profitability, while the TD2variables have negative and significant effect towards profitability in agriculture sector companies BEI on the period 2012-2016.
PENGARUH CORPORATE GOVERNANCE TERHADAP TRANSPARANSI PADA PERUSAHAAN NON- KEUANGAN DI BEI PERIODE 2012-2016 Adrian Christianto; Werner Ria Murhadi; Liliana Inggrit Wijaya
CALYPTRA Vol. 7 No. 2 (2019): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (Maret)
Publisher : Perpustakaan Universitas Surabaya

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This research aim to analyze affect corporate governance which transparency in measured stock return synchronicity.Research finding indicates that board size (komisaris), institutional ownership andleverage give positiveeffect to transparancy and volatility of firm fundamental give negative effect to transparancy . The another variabels like big4 audit, market to book ratio, and firm size give not effect to transparancy.