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All Journal Conference In Business, Accounting And Management (Cbam) 2012 Signifikan : Jurnal Ilmu Ekonomi JURNAL BISNIS STRATEGI Jurnal Studi Manajemen Organisasi Diponegoro Journal of Economics Diponegoro Journal of Management Jurnal Keuangan dan Perbankan JDM (Jurnal Dinamika Manajemen) JEJAK The Winners Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Management Analysis Journal International Research Journal of Business Studies (E-Journal) Jurnal Ekonomi dan Bisnis Syntax Literate : Jurnal Ilmiah Indonesia Jurnal Riset Ekonomi dan Bisnis DIJB (Diponegoro International Journal of Business) International Journal of Supply Chain Management International Journal of Economics, Business and Accounting Research (IJEBAR) Indicators : Journal of Economic and Business Indonesian Capital Market Review

Harjum Muharam

Department Of Management, Faculty Of Economics And Business, Universitas Diponegoro, Indonesia

Author-ID : 323552

Religion Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Social Sciences Transportation

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ANALISIS KINERJA KEUANGAN BANK MUAMALAT INDONESIA (BMI) TAHUN 1994-1998 DAN TAHUN 1999-2003 Muharam, Harjum; Handayani, Suyati
JURNAL BISNIS STRATEGI Vol 14, No 1 (2005): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Using paired sample t-test this research analyze financial performance of Bank Muamalat Indonesia between 1994-1998 and 1999-2003. Profitability ratios, liquidity tsuos, solvability ratios, and commitment to economy and Moslem community ratio are used as financial performance. The results show there are no significance different financial performance during 1994-1998 and 1999-2003 period exceptÂ commitment to economy and Moslem community ratio.

Dampak Pelepasan Batas Kepemilikan Asing terhadap Terintegrasinya Bursa Efek Jakarta dengan Bursa Efek Internasional (Studi Literatur) Muharam, Harjum
JURNAL BISNIS STRATEGI Vol 4, No 1 (1999): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Tulisan ini merupakon hasil kajian terhadap penelitian-penelitian yang dilakukan oleh berbagai pihak tentang integrasi dan segmentasi pasar modal internasional. Dari penelitian-penelitianÂ tersebut ditemukanÂ bahwaÂ dari waktu ke Â waktu pasarÂ modal internasional semakin terintegrasi.Â Terintegrasinya suatu pasar modal domistik dengan pasar modal internasional sangat dipengaruhi oleh kebijakan pemerintah dalam mengaturr investasi lokal dan asing di pasar modal tersebut. Berdasarkan hasil penelitian-penelitian pada pasar modal yang telah terintegrasi secara internasional tersebut dan adanya kebijakan pemerintah melepaskan batas kepemilikan asing di pasar modal Indonesia (BEJ),Â maka penulis mengambil hipotesis bahwa pasar modal Indonesia telah terintegrasi dengan pasar modal internasional.Â

THE EFFECT OF BOARD OF DIRECTOR, AUDIT COMMITTEE, INSTITUTIONAL OWNERSHIP TO FIRM VALUE, WITH FIRM SIZE, FINANCIAL LEVERAGE, AND INDUSTRIAL SECTOR AS CONTROL VARIABLES (STUDY ON LISTED COMPANIES IN INDONESIAN STOCK EXCHANGE PERIOD 2011-2015) Samasta, Almira Santi; Muharam, Harjum; Haryanto, Antonius Mulyo
JURNAL BISNIS STRATEGI Vol 27, No 1 (2018): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

This study aims to examine the effect of corporate governanceâ€™s mechanism to firm value which is proxied by Tobinâ€™s Q. This mechanism is divided into two, internal mechanism which is proxied by board of director and audit committee and external mechanism which is Â proxied by institutional ownership. This study is using control variables such as firm size, financial leverage and industrial sector.Sample used in this study are 40 companies which incorporated in several industrial sector in Indonesia which are listed in Indonesia Stock Exchange during 2011-2015. Hypothesis testing in this study is using multiple regression analysis.The result of this study shows that board of director has positive but insignificant effect to firm value in Indonesia, audit committee has positive and significant effect to firm value in Indonesia and institutional ownership has negative but insignificant effect to firm value in Indonesia. The control variables used in this study provide mixed results, where firm size has negative and insignificant effect to firm value, financial leverage has positive and significant effect to firm value and the whole industrial sector in Indonesia has no effect to firm value. From simultaneous test, this study shows that simultaneously independent variables significantly affect to firm value.

ANALISIS PENGARUH HARGA MINYAK DAN HARGA EMAS TERHADAP HUBUNGAN TIMBAL-BALIK KURS DAN INDEKS HARGA SAHAM GABUNGAN (IHSG) DI BURSA EFEK INDONESIA (BEI) 2000 -2013 Faraga, Filus; Chabachib, M.; Muharam, Harjum
JURNAL BISNIS STRATEGI Vol 21, No 1 (2012): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Pasar modal merupakan salah satu subsektor yang memainkan peran yang sangat penting dalam menggerakan roda perekonomian suatu negara. Sehingga pasar modal menjadi salah satu indikator perekonomian suatu negara. Salah satu ukuran kinerja dari pasar modal adalah indeks harga saham. Ada banyak faktor yang dapat mempengaruhi indeks harga saham di pasar modal, antara lain keadaan ekonomi global, tingkat harga energi dunia, kestabilan politik suatu negara (Blanchard, 2006); kurs valuta asing, kondisi perekonomian internasional, dan siklus ekonomi suatu negara (Samsul,2008). Selama periode amatan tahun 2000-2013 terjadi fenomena dimana hubungan antar variabel makro ekonomi dengan pergerakan indeks harga saham gabungan (IHSG) tidak sesuai dengan teori. Hal ini didukung dengan kesenjangan dari beberapa hasil penelitian terdahulu. Tujuan dari penelitian ini adalah menganalisisÂ pengaruh Harga Minyak Dunia dan Harga Emas Dunia terhadap hubungan timbal-balik Kurs (nilai tukar rupiah terhadap dolar AS) dan indeks harga saham gabungan (IHSG).Penelitian ini menggunakanÂ data bulanan Januari 2000 sampai Januari 2013. Tujuan penelitian akan dijawab dengan menggunakanÂ uji kointegrasi untuk melihat hubungan jangka panjang antar variabel dan model VAR/VECM untuk mengetahui apakah pergerakan harga minyak dunia, harga emas dunia, kurs mempengaruhi IHSG dan IHSG mempengaruhi kurs. Selanjutnya, alat analisis Impulse Response digunakan untuk mengetahui respon IHSG dan kurs jika terjadi guncangan harga minyak dunia dan harga emas dunia, serta menggunakan alat analisis Variance Decomposition untuk mengetahui peran variabel harga minyak dunia dan harga emas dunia dalam menjelaskan pergerakan IHSG dan kurs.Hasil analisis kointegrasi menunjukkan bahwa semua variabel, yakni harga minyak dunia, harga emas dunia, kurs dan IHSG dalam jangka panjang ada kointegrasi. Hasil analisis menunjukkan bahwa harga minyak dunia berpengaruh signifikan terhadap kurs; harga emas dunia tidak berpengaruh signifikan terhadap IHSG; harga emas dunia tidak berpengaruh signifikan terhadap kurs; kurs berpengaruh signifikan terhadap IHSG; IHSG berpengaruh signifikan terhadap kurs. Hasil analisis kausalitas menunjukkan bahwa kurs dan IHSG ada hubungan kausalitas. Hasil analisis Impulse Response menunjukkan bahwa guncangan harga minyak dunia direspon negatif oleh kurs; guncangan harga emas dunia direspon negatif oleh IHSG dan kurs; perubahan nilai kurs direspon positif oleh IHSG; dan perubahan IHSG direspon positif oleh kurs.

THE EFFECT OF INFLATION, USD AND YUAN EXCHANGE RATE, CRUDE OIL WTI AND ICP TO INDICES SECTORAL RETURNS IN INDONESIAN STOCK EXCHANGE Yudianto, Iwan; Muharam, Harjum; Sugiono, Sugiono
JURNAL BISNIS STRATEGI Vol 27, No 1 (2018): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

This study aimed to see whether there is an influence between macro-economic variables include changes of USD / IDR exchange rate, change of CNY / IDR exchange rate, inflation change, change of WTI crude oil and change of ICP crude oil to return of sectoral indices, represented by return of consumption index stock, return of financial index stock, return of infrastructure index stock and return of trade and service index stock. In addition, this study also tested whether there is a causal relationship of one or two directions of endogenous variables. Period in this study began from July 2009 - December 2017 (102 months). The Hypothesis testing of this study use Vector Autoregressive (VAR) method with Eviews 9 software.The result of the research concludes that the change of USD / IDR exchange rate have a significant negative effect on return of consumption index stock, return of financial index stock, return of infrastructure index stock and return of trade and services index stock. Changes of the CNY / IDR exchange rate have a significant negative effect on return of consumption index stock and return of financial index stock. Inflationary change have a significant negative effect on return of financial index stock and return of trade & service index stock. The change of crude oil WTI and ICP crude oil have no significant effect on all sectors. In the Granger causality test, it is found that the return of trade and services index stock has one way causality relationship to the return of infrastructure index stock.

ANALISIS INTEGRASI BURSA EFEK JAKARTA DENGAN PASAR MODAL DUNIA : Menggunakan Uji Akar-akar Unit Muharam, Harjum
JURNAL BISNIS STRATEGI Vol 7, No 5 (2001): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Increasing of Capital Market in Indonesia Become interesting topic to be analysed. Capital market integration is one part of the topic that challenges to be researched. Economic crisis in Indonesia gives big impact on Indonesian Capital Market. In order to anticipate more impact of the crisis, in September 1997 Indonesian Government Liberated foreign ownership limit for stock at Jakarta Stock Exchange. Theoresically this liberated make JSX integrated to World Capital Market and the movement of HISG has positive correlation with international indexes. To know the real condition is the reason why this JSX and World Capital Market. Bivariate cointegration test between HISG and each indexes results ADF observed valu bigger than ADF table value for all cases at alfa 5% and 10%. This result has means that HISG has cointegreted with the the indexes and proofs the hypothesis of integration between JSX and World Capital Market is true.

PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN agasa, Qaharuna; Muharam, Harjum
JURNAL BISNIS STRATEGI Vol 25, No 1 (2016): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

This study has the main purpose to test the effect of the components of intellectual capital (VAICTM), namely CEE (Capital Employed Efficiency) HCE (Human Capital Efficiency), SCE (Structural Capital efficieny) on financial performance projected by ROA (Return on Assets), ROE (Return on Equity), ATO (Assets Turnover), and GR (Growth Rate) in non-financial companies listed on the Indonesian Stock Exchange (BEI) in the period 2012-2014.This research was conducted by using Partial Least Square (PLS) for data analysing. The research sample are 82 non-financial companies listed in the Indonesia Stock Exchange in 2012-2014. The requirements are companies with stable profit in 3 years, have enough component for calculating Value Added (VA), and have IDR (Rupiah) as the currency for financial report.The findings of this study is to indicate that there is a positive effect of intellectual capital components (VAICTM) on the financial performance of the company. Components of IC (VAICTM) also affect future financial performance. Overall, the empirical findings of this study stated that CEE (Capital Employed Efficiency) and SCE (Structural Capital efficieny) is a significant indicator for VAICTM on financial performance in the same year, CEE is a significant indicator of financial performance in the future. Limitations of this study is the use of all non-financial companies which qualify the needs assessment value added (value added) for 3 consecutive years - participated.

Diversifikasi Pendapatan, Kinerja Bank, dan Peran Moderasi Tipe Kepemilikan Muharam, Harjum; Bellinda, Bianda
JURNAL BISNIS STRATEGI Vol 29, No 1 (2020): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jbs.29.1.68-79

Income diversification is one of the Bank's strategies to earn income. Non-Interest Income is the alternative to absorb income other than Net Interest Income. However, the level of Non-Interest Income of Commercial Banks in Indonesia is still at an average of 20%. Based on this problem, the study aimed to analyze the effect of Income Diversification, Non-Interest Income, and determination of Non-Interest Income which is Fee Commissions Income And Trading Income on the performance of Commercial Banks in Indonesia listed in the Bursa Efek Indonesia (BEI) period of 2014 â€“ 2018. The condition of Commercial Bankâ€™s stakeholders in Indonesia also changes because of raised number of mergers and acquisition that occur in Indonesian banks. Therefore, this study aimed to analyze the state-owned ownership and foreign ownership in moderating the effect of Income Diversification and Non-Interest Income on Commercial Banksâ€™ performance in Indonesia listed in Bursa Efek Indonesia (BEI) period of 2014-2018. The results of this study indicate that Income Diversification, Non-Interest Income, and Fee Commissions Income have positive and significant effect on the Bank's performance. Banks with state-owned ownership has a negative and significant influence in moderating the effect of Income Diversification and Non-Interest Income on ROA. Meanwhile, Banks with foreign ownership has a positive and significant effect on the Bankâ€™s performance.

Co-Authors Abdul Aziz Nurul Akhsan, Abdul Aziz Nurul agasa, Qaharuna Andreana Dita Paramitha, Andreana Dita Apriyani, Duwi Asep Mulyana Axel Giovanni Azhary, Alwan Bellinda, Bianda Dewi, Febrina Eka Dhani Utary Firmanah, Dhani Utary Dheni Saraswati Almara, Dheni Diana Eka Farida, Diana Eka Dinda Ayu Septiana, Dinda Ayu Dwi Gama Primadasa, Dwi Ersabathari, Ruth Valencia Erwin Erwin Faraga, Filus Farah Nur Sabrina, Farah Nur Fitriati, Ika Rosyada Galuh Kusuma Putri Gata Niztiar, Gata Habib Bitomo, Habib Handayani, Heny Handayani, Suyati Hanung Sakti Hanung Sakti, Hanung Haryanto, Antonius Mulyo Hasna Penta Kurnia Hasna Penta Kurnia Hasna Penta Kurnia Heni Hirawati Heny Handayani Hepdityo Rizki Adam Damanik, Hepdityo Rizki Ima Mediana, Ima Indra Eka Putra Isfenti Sadalia Jumadil Saputra M. Andika Jawara Pratama M. Chabachib Maria Rio Rita Miftahusni,, Nundy Mohammad Chabachib Muhammad Fadhil Rabbani Muhammad Panji Muhammad Panji, Muhammad Muhammad Talkhisul Abid Muhammad Talkhisul Abid Nabila H.N. Farida A., Nabila H.N. Nadya Purnamasari, Nadya Nency I, Yashinta Nirmala Luthfiya Atyanta Putri Andriana, Putri Rabbani, Muhammad Fadhil Rahayu, Nugroho Tulus Rico Nur Ilham Riskin Hidayat Rizki Yogonugroho, Muhammad Robiyanto Robiyanto, Robiyanto Samasta, Almira Santi Santa Situmeang, Santa Saraswati, Niken Silvia Hendrayanti Sugeng Wahyudi, Sugeng Sugiono Sugiono Syafrullah, Saddek T. Muhd. Redha Vahlevi, T. Muhd. Redha Tara Ninta Ikrima Teuku Muhammad Haqiqi, Teuku Muhammad Wisnu Mawardi Wulandari, Cahyani Sulistyaning Yacobo P Sijabat Yasmin, Amanda Ratri Yudianto, Iwan

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