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The Effect of Economy Bitcoin on Money Supply with the Growth of Bitcoin Volatility as an Intervening Variable Nindya Dera Permatasari; Muhammad Azhari
Almana : Jurnal Manajemen dan Bisnis Vol 4 No 1 (2020): April
Publisher : Program Studi Manajemen, Fakultas Ekonomi, Universitas Langlangbuana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (513.534 KB) | DOI: 10.36555/almana.v4i1.1306

Abstract

Bitcoin is one of many Cryptocurrency that was intended to ease the peer-to-peer payment method where it’s users can directly interact without an intermediary. The value of Bitcoin is determined by the demand and offer without the interference of other parties so it tends to fluctuate. The demand for Bitcoin is increasing from the service provider of Cryptocurrency in the form of digital asset exchange, especially in Malaysia. This research was done to find out if there’s an effect from the Bitcoin economy to the money supply in Malaysia. The time-series data in the form of the provider of virtual money in Malaysia, data on the growth of Bitcoin volatility, and the data of the money supply in Malaysia (M1). The data is taken at the end of each month during the study period from January 2016 to June 2019. Purposely to answer the question of this research the data is analyzed using the classic assumption, the simple linear regression test, and t-test. The result from the data processing is shown Bitcoin economy has a significant effect on the money supply in Malaysia.
Comparative Analysis of Abnormal Returns of Stocks and UBS Gold Before and After the Announcement of the Covid-19 Pandemic Qamaral Shabrina Agfah; Muhammad Azhari
Almana : Jurnal Manajemen dan Bisnis Vol 5 No 1 (2021): April
Publisher : Program Studi Manajemen, Fakultas Ekonomi, Universitas Langlangbuana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (157.864 KB) | DOI: 10.36555/almana.v5i1.1541

Abstract

Currently, the economy and capital market in Indonesia are experiencing a decline in performance due to the COVID-19 pandemic. This research was conducted to analyze whether there is a difference in the return of shares in the transportation sub-sector and UBS gold to the current COVID-19 pandemic, by looking at changes in prices 7 days before and 7 days after the announcement of the COVID- 19 Pandemic announced by President Joko Widodo on March 2, 2020. The phenomena contained in this study were carried out by the event study with the abnormal return technique. This study using data in the form of secondary data and data taken by time series. The sample used in this research is data on the closing price of 7 days of 1-gram UBS pure gold before and after the COVID-19 pandemic and 23 shares of the transportation sub-sector listed on the Indonesia Stock Exchange. Data analysis used abnormal return, normality test, and paired sample t-test using IBM SPSS. This study found that there was no difference in the abnormal return of shares in the transportation sub-sector and UBS Gold at the time of the announcement of the COVID-19 pandemic in Indonesia by Joko Widodo.
Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period Della Ayu Sevira; Muhammad Azhari
Almana : Jurnal Manajemen dan Bisnis Vol 5 No 2 (2021): August
Publisher : Program Studi Manajemen, Fakultas Ekonomi, Universitas Langlangbuana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (269.537 KB) | DOI: 10.36555/almana.v5i2.1546

Abstract

Achieve the objectives of companies requires financial decisions that include capital structure. Capital structures in food and beverage companies are relatively low, so it doesn't necessarily make capital structures optimal. This research is conducted to examine factors that influence the capital structure of food and beverage companies listed on the Indonesia Stock Exchange in the 2017-2019 periods. The purpose of this research is to test both simultaneously and partially the influence of profitability, tangibility, firm size, sales growth, asset growth, business risk, firm activity, and liquidity on the capital structure. 14 of 26 companies have been selected as research samples from food and beverage companies listed in Indonesia Stock Exchange in 2017-2019, so 42 observations have been obtained. The method of analysis that using in this research is the multiple regressions analysis technique. This research shows that simultaneously profitability, tangibility, firm size, sales growth, asset growth, business risk, firm activity, and liquidity have a significant influence on the capital structure. The result of partial research shows that firm size and liquidity significantly influence the capital structure. Meanwhile, profitability, tangibility, sales growth, asset growth, business risk, and firm activity have no significant influence on the capital structure.
The Influences of Finance Knowledge, Financial Attitudes, and Personality on Financial Management Behaviors on Building Materials MSME Chintya Nuranida Putri; Muhammad Azhari
Almana : Jurnal Manajemen dan Bisnis Vol 5 No 3 (2021): December
Publisher : Program Studi Manajemen, Fakultas Ekonomi, Universitas Langlangbuana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (334.352 KB) | DOI: 10.36555/almana.v5i3.1547

Abstract

This research is motivated by the behavior of financial management, which is considered as one of the essential concepts in economic science, such as the allocation of acquisition and utilization of financial resources. Therefore, who conducted this research to determine financial knowledge, financial attitudes, and personality on financial management behavior in the MSME building materials players in the City of Tasikmalaya. This research design is included in the associative causality research. The subjects used were 75 building materials MSME players. The data collection technique used is primary. Data is obtained directly from the respondent. And the instrument used was a questionnaire. The data analysis technique used is Multiple Linear Regression, which is processed using software SPSS. The results showed that financial knowledge, financial attitudes, and personality partially and simultaneously had a significant effect on financial management behavior.
ANALISIS KONVERGENSI RASIO KEUANGAN PERUSAHAAN PERTAMBANGAN Widya Maretha Pitaloka; Muhammad Azhari
Jurnal SIKAP (Sistem Informasi, Keuangan, Auditing Dan Perpajakan) Vol 2, No 2 (2018): April
Publisher : Universitas Sangga Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (257.825 KB) | DOI: 10.32897/jsikap.v2i2.68

Abstract

Pertambangan memiliki harga saham dan harga komoditas yang terus melemah sejak tahun 2012 hingga 2016. Untuk menilai kinerja keuangan perusahaan yaitu dengan membandingkan rasio keuangan suatu perusahaan terhadap rata-rata industri perusahaan yang sejenis secara bersamaan. Penelitian ini bertujuan untuk membuktikan apakah perusahaan melakukan penyesuaian terhadap rata-rata industrinya, serta mengetahui arah dan kecepatan penyesuaiannya. Metode yang digunakan yaitu kombinasi antara regresi linier sederhana dengan Partial Adjustment Model dengan menggunakan current ratio, quick ratio, total debt to equity ratio, inventory turnover ratio, dan total assets turnover ratio. Hasil penelitian menunjukkan bahwa kelima rasio keuangan perusahaan pertambangan konvergen terhadap rata-rata industrinya. Konvergensi quick ratio, total debt to equity ratio, inventory turnover ratio, dan total assets turnover ratio terjadi diatas rata-rata industrinya. Sedangkan, konvergensi current ratio terjadi dibawah rata-rata industrinya. Kemudian, kelima rasio yang diteliti memiliki kecepatan penyesuaian yang lebih cepat terhadap rata-rata industrinya.
PENERAPAN DEA DALAM MENGUKUR EFISIENSI DAN PENGARUHNYA TERHADAP STOCK RETURN Nurul Farida; Muhammad Azhari
Jurnal SIKAP (Sistem Informasi, Keuangan, Auditing Dan Perpajakan) Vol 2, No 2 (2018): April
Publisher : Universitas Sangga Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (172.136 KB) | DOI: 10.32897/jsikap.v2i2.69

Abstract

Perusahaan yang terdaftar dalam indeks saham LQ45 dianggap sebagai perusahaan unggulan karena telah terseleksi memiliki likuiditas yang lebih tinggi dibandingkan perusahaan lain di Indonesia, sehingga diharapkan telah efisien. Penelitian ini bertujuan untuk mengetahui tingkat efisiensi perusahaan yang terdaftar pada indeks LQ45 periode Februari 2013 sampai Januari 2017, serta mengetahui pengaruhnya terhadap stock return. Tingkat efisiensi dikalkulasi dengan menerapkan model Data Envelopment Analysis (DEA) pada 27 perusahaan sampel penelitian. DEA adalah suatu alat bantu untuk mengevaluasi kinerja suatu aktivitas dalam suatu organisasi, yang merupakan rasio antara input dan output yang terbobot. Hasil perhitungan DEA berupa nilai efisiensi, dinyatakan dengan technical efficiency, pure technical efficiency, dan scale efficiency, yang berfungsi sebagai variabel independen. Nilai efisiensi mengindikasikan terdapat 2 DMU pada TE, 12 DMU pada PTE, dan 2 DMU pada SE yang efisien. Hasil estimasi regresi data panel mengindikasikan tidak terdapat pengaruh signifikan tingkat efisiansi terhadap stock return.
ANALISIS KINERJA KEUANGAN PADA USAHA RINTISAN (STUDI PADA KEDAI KOPI KOALA PERIODE NOVEMBER 2018 – FEBRUARI 2020) Nicolas Irman Pratama; Muhammad Azhari
Jurnal Mitra Manajemen Vol 4 No 8 (2020): Jurnal Mitra Manajemen Edisi Agustus
Publisher : Kresna Bina Insan Prima

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52160/ejmm.v4i8.441

Abstract

Manfaat kinerja keuangan bagi usaha rintisan adalah untuk mengukur prestasi yang diperoleh usaha rintisan untuk menilai pencapaian, sebagai dasar penentuan strategi masa yang akan datang dan sebagai petunjuk pengambilan keputusan seperti penanaman modal untuk meningkatkan produktivitas usaha rintisan dan efisiensi biaya. Penelitian ini bertujuan untuk mengukur kinerja keuangan dari Kedai Kopi Koala studi pada Koala november 2018 – Februari 2020. Penelitian ini menggunakan metode kuantitatif deskriptif dan menggunakan data primer. Teknik sampling yang digunakan adalah studi kasus. Teknik analisis data yang digunakan yaitu analisis deskriptif, analisis trendline dan analisis horizontal. Hasil penelitian menunjukan perkembangan rasio likuiditas, rasio solvabilitas, rasio aktivitas dan rasio profitabilitas Kedai Kopi Koala pada periode November 2018 – Februari 2020 mengalami kecenderungan peningkatan artinya semakin baiknya kinerja keuangan dalam usaha rintisan Kedai Kopi Koala. Berdasarkan analisis horizontal cenderung lebih besar dibanding pesaing artinya Kedai Kopi Koala lebih baik dalam mengelolah usaha rintisannya.
PREDIKSI KEBANGKRUTAN DENGAN METODE ALTMAN Z-SCORE, SPRINGATE DAN ZMIJEWSKI PADA PERUSAHAAN DELISTING DI BURSA EFEK INDONESIA (BEI) Anggita Prameswari; Irni Yunita; Muhammad Azhari
JRAK Vol 10 No 1 (2018): Edisi April
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (708.617 KB) | DOI: 10.23969/jrak.v10i1.1056

Abstract

This research aimed to understand how to use of the Altman Z-Score, Springate, and Zmijewski methods, to predict bankruptcy and help to analyze companies that have been delisted from Indonesian Stock Exchange in time period of 2011–2015. This research used descriptive method with quantitative approach. The population used in this research are companies that have been delisted in time period of 2011-2015, using the financial report from three years before the companies delisting from Indonesian Stock Exchange. Non-probability sampling with purposive sampling technique were used, with nine companies that have been delisted from Indonesian Stock Exchange. The result showed that there are different prediction from each methods. Most delisting companies are predicted to bankrupt at least one of the methods.
PERHITUNGAN VALUE AT RISK (VaR) DENGAN METODE HISTORIS DAN MONTE CARLO PADA SAHAM SUB SEKTOR ROKOK Achmad Dimas; Muhammad Azhari; Khairunnisa Khairunnisa
Jurnal Riset Bisnis dan Manajemen Vol 11 No 1 (2018): Edisi Februari
Publisher : Faculty of Economic and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (358.001 KB) | DOI: 10.23969/jrbm.v11i1.862

Abstract

The government’s policy, the Indonesian Ulema Council’s (MUI) fatwa, the rise of cigarette issues and anti-smoking campaigns have been a major challenge for the tobacco industry in managing risks. Through this research, the issues will be measured by VaR to know the risk of the company’s shares of cigarette sub sector by using time series data and analyzed by using the simulation method of Historis and Monte Carlo. The results showed the VaR value of GGRM and HMSP stock with the historical method is 3.28 and 2.54%. While the value of VaR shares GGRM and HMSP with Monte Carlo method is 3.52% and 3.14%. Monte Carlo simulation gives greater result than Historical Simulation, because Monte Carlo simulation do iteration repeatedly by involving random number generation and many synthesize the data so that sample data becomes more which makes the calculation is bigger.
ANALISIS KELAYAKAN INVESTASI WORK FROM DESA WISATA ALAM ENDAH JAWA BARAT Muhammad Azhari; Khairunnisa Khairunnisa; Lenny Suzan; Muhammad Muslih
Prosiding COSECANT : Community Service and Engagement Seminar Vol 1, No 2 (2021)
Publisher : Universitas telkom

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (128.56 KB) | DOI: 10.25124/cosecant.v1i2.17522

Abstract

Investasi merupakan kegiatan yang memberikan nilai tambah bagi nilai aset tertentu, yang bertujuan untuk memberikan kesejahteraan bagi pemilik aset tersebut. Investasi yang baik sebaiknya dilakukan melalui tahap perencanaan yang matang sehingga dapat meminimalkan risiko ekonomi yang akan dihadapi ketika proyek investasi tersebut dilaksanakan. Konsep Work From Desa merupakan konsep baru, dimana sejak terjadinya pandemic COVID-19, istilah ini banyak digunakan bagi para profesional yang melakukan kegiatan produktifnya dari mana saja. Alam Endah sebagai salah satu Desa Wisata unggulan di Jawa Barat memiliki sumber daya yang potensial bagi dikembangkannya konsep ini, dengan tujuan meningkatkan efek multiplier kesejahteraan masyarakat desa. Unsur utama yang diperlukan dalam menunjang Work From Desa ini, adalah sarana akomodasi yang memadai untuk dilakukannya kerja dimana saja. Pengabdian Masyarakat kali ini mengangkat studi kelayakan investasi revitalisasi sarana Akomodasi di Desa Alam Endah. Dari analisis yang telah dilakukan, maka Investasi Work From Desa Wisata ini layak untuk dikembangkan, dengan nilai Net Present Value yang posotif dan indeks Internal Rate of Return yang melebihi tingkat risiko bisnisnya.