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Donalson Silalahi
FE Unika Santo Thomas SU
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STRUKTUR HUBUNGAN VOLUME PERDAGANGAN SAHAM DENGAN INFORMATION COST DAN NON-INFORMATION COST DI BURSA EFEK INDONESIA Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 12 No. 1 Tahun 2012
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v12i1.49

Abstract

Most of empirical research showed that the influence of trading volume on spread did not consistent. Therefore, this study aims to explain why the influence of trading volume on spread did not consistent. In this study, the first, to estimate the decomposition of spread such as information cost and non-information cost. The second, to determine the relationship of the structure of trading volume on information cost and non-information cost. By using the data of the company's shares are traded on the Indonesia Stock Exchange during the years 2007 - 2008, in the trade size segmentation, the results showed that: information cost increases the higher the traded size so the trading volume has a positive and significant effects on the information cost. Furthermore, non-information cost did not increases the higher the traded size so the trading volume did not significantly effects on the non-information cost. Therefore, the influences of trading volume on spread depends on the decomposition of spread, such as information cost and non-information cost.
PENGARUH BIAYA TRANSAKSI TERHADAP PERIODE KEPEMILIKAN SAHAM DI BURSA EFEK INDONESIA Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 12 No. 2 Tahun 2012
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v12i2.56

Abstract

The theoretical suggests that, the higher transaction cost resulting in longer holding periods. Based on this concept, many studies have been done and show that: the transaction cost has a positive and significant effect on holding period. Other research suggests that: the transaction cost has a negative and significant effect on holding period. Therefore, the issue of this research is to explain why the influence of the transaction cost on holding period are not consistent. To achieve these objectives, to conducted research in Indonesia Stock Exchange during the years 2010 - 2011 and using the purposive sampling as the sampling technique. Samples were observed at 1.056 and data were analyzed using the multiple regression. The results showed that: (1), the effect of transaction cost on holding period depends on the components of transaction cost (information friction and real friction). (2), information friction has a negative and significant effect on holding period. (3), real friction has a positive and significant effect on holding period. (4), the influence of information friction and real friction on holding period increase the higher of traded volume and listed shares. (5), the relationship of decomposition of transaction cost on holding period is monotonic. Based on the results of this research: (1), in making decisions regarding the holding period of shares in Indonesia Stock Exchange, investors should consider the component of transaction cost (information friction and real friction). In addition to the information, in determining the holding period, investors should also attention the trading volume and the number of shares listed. (2), transaction cost and its components can be used in shaping investors' portfolios and investment horizon period. (3), transaction cost can be used the company in issuing shares.
PENGARUH PROFITABILITAS, LEVERAGE OPERASI DAN TINGKAT PERTUMBUHAN PERUSAHAAN TERHADAP STRUKTUR MODAL PADA INDUSTRI MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA. Metro Gultom; Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 13 No. 1 Tahun 2013
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v13i1.64

Abstract

The purpose of this study that analyze the influence of Profitability, Leverage Operations and Growth Rate on Industrial Manufacturing Company listed on the Indonesia Stock Exchange. The data used in this research is secondary data obtained from the Indonesia Stock Exchange. The method used in this study is multiple regression. From the results of the analysis indicate that the Profitability, Leverage Operations and Corporate Growth Rate simultaneously have a significant impact on capital structure, while partial profitability and significant negative effect on the Capital Structure, while Operating Leverage and no significant positive effect on capital structure, while the Company Growth positive and significant effect on the Capital Structure in Manufacturing Industry listed in Indonesia Stock Exchange. Variable Profitability, Leverage Operations and Corporate Growth rate can explain the variation in capital structure policy in Manufacturing Industry in Indonesia Stock Exchange amounted to 75.6 percent.
MODEL PENILAIAN DAN EVALUASI PELAKSANAAN DIKLAT BAGI PEGAWAI NEGERI SIPIL Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 10 No. 1 Tahun 2010
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v10i1.68

Abstract

Donalson Silalah, Basically, the government and local governments have made the development of government officers through a program of education and training. Providing education and training is less efficient and effective manner due to the relative unavailability of assessment guidelines and evaluation of education and training. Therefore, this paper aims to build a model of assessment and evaluation of education and training. Models are constructed focused on education and training participant, lecturer, curriculum, organizers and the participants after they return to duty at their respective workplaces. Model assessment and evaluation of education and training builds upon the indicators of each aspect. Indicators that are used can be adjusted as needed. Based on the models constructed can be known what the obstacles to the implementation of education and training. Based on the constraints that are found to be a solution in the subsequent implementation of education and training.
FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PADA PERUSAHAAN MAKANAN DAN MINUMANAN YANG GO PUBLIK DAN TERDAFTAR DI BURSA EFEK INDONESIA (BEI) Vinda Afnita; Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 13 No. 2 Tahun 2013
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v13i2.76

Abstract

Tujuan penelitian untuk menganalisis beberapa faktor yang mempengaruhi struktur modal. Populasi yang digukan adalah perusahan Makanan dan Minuman yang Go publik dan Terdaftar di Bursa Efek Indonesia tahun 2006-2009. Sampel yang diambil adalah 10 perusahaan. Berdasarkan hasil penelitian, bahwa variabel profitabilitas, struktur aktiva, pertumbuhan aktiva, dan leverage operasi berpengaruh signifikan terhadap struktur modal (DER) pada perusahaan Makanan dan Minuman yang Go public dan Terdaftar di Bursa Efek Indonesia. Nilai koefisien determinasi sebesar 0.9960 berarti secara keseluruhan variabel Profitabilitas, struktur aktiva, pertumbuhan aktiva,dan leverage operasi mampu menjelaskan variasi struktur modal. Hasil penelitian menunjukan bahwa profitabilitas berpengaruh positif secara parsial terhadap struktur modal. Leverage operasi berpengaruh positif secara parsial terhadap struktur modal. Struktur aktiva berpengaruh negatif secara parsial terhadap struktur moda. Pertumbuhan aktiva mempunyai pegaruh negatif secara parsial terhadap struktur modal.
KONSENTRASI KEPEMILIKAN SAHAM DAN DAMPAKNYA TERHADAP KINERJA KEUANGAN PERUSAHAAN DI BURSA EFEK INDONESIA Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 14 No. 2 Tahun 2014
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v14i2.88

Abstract

The study aims to: First, obtain empirical evidence about the impact of the concentration of stock ownership to the company's financial performance by using size of the compay and capital structure as a control variable in the Indonesia Stock Exchange. Second, obtain empirical evidence about the the impact of the company's financial performance to the concentration of stock ownership by using the size of the company and capital structure as a control variable in the Indonesia Stock Exchange. Third, obtain empirical evidence about the optimal concentration of share ownership in the Indonesia Stock Exchange. To achieve these objectives, the research conducted at the Indonesian Stock Exchange with a sample size as many as 195 companies and in explaining the relationship between the concentration of share ownership with the company's financial performance, firm size and capital structure as control variables and used t test, F test with α by 10 percent. Based on the results of research, the conclusions can be stated as follows: First, the concentration of share ownership and financial performance of the company can be placed as dependent and independent variables. The concentration of stock ownership have a significant positive effect on the company 's financial performance both before and after included firm size and capital structure as a control variable. Company's financial performance have a significant positive effect on the concentration of ownership of shares before and after included firm size and capital structure as a control variable. That is, the relationship between the concentration of share ownership with the company's financial performance is not a systematic relationship. Second, there is no an optimal concentration of share ownership, but there is a tendency of non- monotonic relationship between the concentration of share ownership with the company's financial performance. That is, the more concentrated the ownership of shares resulting majority shareholder actions that benefit themselves, to the detriment of minority shareholders
SPREAD DAN STRUKTURNYA SERTA DAMPAKNYA TERHADAP STOCK RETURN DI BURSA EFEK INDONESIA Saut Purba; Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 14 No. 2 Tahun 2014
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v14i2.90

Abstract

The research on the influence of bid ask spread on the stock return has been widely applied. Some of these research indicates that spread has a positive and significant effect on the stock return and the other research show that spread has a negative and significant effect on the stock return. Referring to the results of these studies, the purpose of this research is to explain why the relationship of spread and stock return is not consistent. The study was conducted at the Indonesia Stock Exchange between the year 2007 and 2008 with the sample size 1.707 observations. In this study, first done decomposition of spread to information friction and real friction. Based on the decomposition of spread, further the component of information friction and real friction associated with the stock return. The results of the research showed that the component of information friction has a positive and significant effect on the stock return. Furthermore, the component of real friction has a negative and significant effect on the stock return. Therefore, the inconsistency coefficient direction of the influence of spread on the stock return caused components of the spread. Furthermore, the results showed that the stock return are highly sensitive to the changes of information friction
ANALISIS PENGARUH FAKTOR FUNDAMENTAL DAN PASAR TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA Anastasia F. Karo-Karo; Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 15. No. 2 Tahun 2015
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (591.726 KB) | DOI: 10.54367/jmb.v15i2.102

Abstract

This study aimed to analyze the influence Earning Per Share, Return on Equity, Book Value, Growth Company and market factors, namely Capitalization Rate on stock price on manufacturing companies listed in Indonesia Stock Exchange. The object of this research is manufacturing companies listed in Indonesia Stock Exchange 2010-2012 period who actively publish the financial statements in the period of observation. In this study, the data collected is of secondary data is data obtained indirectly from the object of research. Therefore, in this study the data capture technique using the documentation techniques. The procedure of sample selection is purposive sampling and analysis model used is the Multiple regression to test the hypothesis that the t test and F test and also performed classical assumption. The results showed that the Earning Per Share, Return on Equity, Book Value positive and significant effect on stock prices and capitalization rates and a significant negative effect on stock prices. Based on the test results indicate that simultaneous Earning Per Share, Return on Equity, Book Value, Growth companies and capitalization rates affect stock prices. Variations independent variable Earning Per Share, Return on Equity, Book Value, Growth companies and capitalization rate is able to explain the variation in stock prices by 95.64%.
STRUKTUR HUBUNGAN VOLUME PERDAGANGAN SAHAM DENGAN INFORMATION COST DAN NON-INFORMATION COST DI BURSA EFEK INDONESIA Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 12 No. 1 Tahun 2012
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v12i1.49

Abstract

Most of empirical research showed that the influence of trading volume on spread did not consistent. Therefore, this study aims to explain why the influence of trading volume on spread did not consistent. In this study, the first, to estimate the decomposition of spread such as information cost and non-information cost. The second, to determine the relationship of the structure of trading volume on information cost and non-information cost. By using the data of the company's shares are traded on the Indonesia Stock Exchange during the years 2007 - 2008, in the trade size segmentation, the results showed that: information cost increases the higher the traded size so the trading volume has a positive and significant effects on the information cost. Furthermore, non-information cost did not increases the higher the traded size so the trading volume did not significantly effects on the non-information cost. Therefore, the influences of trading volume on spread depends on the decomposition of spread, such as information cost and non-information cost.
PENGARUH BIAYA TRANSAKSI TERHADAP PERIODE KEPEMILIKAN SAHAM DI BURSA EFEK INDONESIA Donalson Silalahi
Jurnal Manajemen dan Bisnis Vol 12 No. 2 Tahun 2012
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54367/jmb.v12i2.56

Abstract

The theoretical suggests that, the higher transaction cost resulting in longer holding periods. Based on this concept, many studies have been done and show that: the transaction cost has a positive and significant effect on holding period. Other research suggests that: the transaction cost has a negative and significant effect on holding period. Therefore, the issue of this research is to explain why the influence of the transaction cost on holding period are not consistent. To achieve these objectives, to conducted research in Indonesia Stock Exchange during the years 2010 - 2011 and using the purposive sampling as the sampling technique. Samples were observed at 1.056 and data were analyzed using the multiple regression. The results showed that: (1), the effect of transaction cost on holding period depends on the components of transaction cost (information friction and real friction). (2), information friction has a negative and significant effect on holding period. (3), real friction has a positive and significant effect on holding period. (4), the influence of information friction and real friction on holding period increase the higher of traded volume and listed shares. (5), the relationship of decomposition of transaction cost on holding period is monotonic. Based on the results of this research: (1), in making decisions regarding the holding period of shares in Indonesia Stock Exchange, investors should consider the component of transaction cost (information friction and real friction). In addition to the information, in determining the holding period, investors should also attention the trading volume and the number of shares listed. (2), transaction cost and its components can be used in shaping investors' portfolios and investment horizon period. (3), transaction cost can be used the company in issuing shares.
Co-Authors Anastasia F. Karo-Karo Metro Gultom Saut Purba Vinda Afnita