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All Journal Jurnal Ekonomi dan Bisnis Jurnal STEI Ekonomi Jurnal Akuntansi dan Manajemen The Indonesian Journal of Accounting Research Jurnal Abdimas Bina Bangsa Jurnal Manajemen dan Kewirausahaan Indonesian Journal of Business, Accounting and Management
Iman Sofian Suriawinata
Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta
Arts Humanities Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Mathematics Social Sciences Other

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OWNERSHIP STRUCTURE, FIRM VALUE AND THE MODERATING EFFECTS OF FIRM SIZE: EMPIRICAL EVIDENCE FROM INDONESIAN CONSUMER GOODS INDUSTRY Iman Sofian Suriawinata; Denty Melatijati Nurmalita
Jurnal Manajemen dan Kewirausahaan Vol. 24 No. 1 (2022): MARCH 2022
Publisher : Management Study Program, Faculty of Business and Economics, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (456.634 KB) | DOI: 10.9744/jmk.24.1.91-104

Abstract

Employing a panel data from a sample of Indonesia listed consumer goods companies covering the period of 2015-2019, the present study examines the effect of share ownership structure on firm value with firm size acting as a moderating variable. The estimation results show that while the control hypothesis of institutional ownership is supported, the alignment hypothesis of managerial ownership does not hold. However, the present study finds that firm size moderates the effect of share ownership structure on firm value. As firm size increases, managerial conducts are more inclined to conform with shareholders’ interest. But on the other hand, as firm size increases, institutional investors tend to side with managers in extracting more value at the expense of other shareholders. These findings corroborate anecdotal evidence in empirical corporate finance that size does matter, and provides insights for policy makers relating to corporate governance implications of institutional ownership in large firms.
The Effect of Financial Performance on Stock Return in Coal Mining Companies Registered in Indonesia Stock Exchange Rony Marthin Sitohang; Iman Sofian Suriawinata; Rimi gusliana
Indonesian Journal of Business, Accounting and Management (IJBAM) Vol 2 No 01 (2019): [IJBAM] Indonesian Journal of Business, Accounting and Management Vol. 02 No. 01
Publisher : BPJP - STEI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1465.115 KB) | DOI: 10.36406/ijbam.v2i2.598

Abstract

Abstract—This study aims to examine the effect of profitability, liquidity, asset structure, and company size on the capital structure of mining companies in this study aims to examine whether there is an influence of the current ratio, debt to equity ratio, total asset turnover and return on assets on stock returns on the company coal mining which is listed on the Indonesia Stock Exchange (IDX). This study uses a comparative research type, which is measured using a method of multiple linear regression based on the Eviews 11 program. The population of this study is coal mining companies listed on the Indonesia Stock Exchange (BEI) in 2013 to 2017. The sample is determined based on the method purpose sampling, with a total sample of 19 coal mining companies so that the total observations in this study were 95 observations. The data used in this study are secondary data. Data collection techniques use the method of documentation through the official website of IDX: www.idx.co.id, www.investing.com and www.sahamok.com. Hypothesis testing using t test. The results prove that CR, DER and ROA affect the coal mining company hospitals listed on the Indonesia Stock Exchange in the 2013-2017 period. While TATO has no effect on the coal mining company hospitals listed on the Indonesia Stock Exchange in the 2012-2017 period.
Pengaruh Profitabilitas, Leverage, Operating Capacity dan Corporate Governance terhadap Financial Distress Perusahaan Ritel di BEI Tahun 2011-2017 Ridwan Maronrong; Iman Sofian Suriawinata; Septiliana Septiliana
Jurnal Manajemen Vol 19 No 2 (2022)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STEI) Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36406/jam.v19i02.743

Abstract

This study aims to determine the effect of profitability, leverage, operating capacity and corporate governance on financial distress in retail companies on the Indonesia Stock Exchange. This study uses a quantitative approach associative research, which is measured using the OLS-Data Panel and Logistics method with Eviews 10. The population of this study are retail companies listed on the Indonesia Stock Exchange (IDX) from 2011 to 2017. The sample is determined based on purposive sampling method, with a total sample of 18 retail companies so that the total observations in this study were 126 observations. The data used in this research is secondary data. The data collection technique uses the documentation method through the official IDX website: www.idx.co.id and the websites of each company. Hypothesis testing using t-test. The results of the study prove that profitability has a significant negative effect on financial distress, while leverage, operating capacity and corporate governance have a significant positive effect on financial distress.
The Implementation of SFAS 71, Bank Equity Valuation, and the Moderating Effect of Bank Size Iman Sofian Suriawinata
The Indonesian Journal of Accounting Research Vol 26, No 1 (2023): IJAR January - April 2023
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.648

Abstract

This study is the first that investigates the value relevance of SFAS 71 within the banking sector, especially relating to the role of the new accounting standards in reducing the problem of information asymmetry due to bank asset opacity. Using samples consisting of 41 listed banking firms from 2016 to 2020, this study shows that the empirical relationship between the initial implementation of SFAS 71 and bank equity value is inverse U-shaped or concave and that bank size has a negative moderated effect on the relationship between the initial implementation of SFAS 71 and bank equity value. These findings indicate that: (i) at low levels of retained earnings adjustments due to the initial implementation of SFAS 71, the disclosure effect brought by the new accounting standards has a positive relationship with bank equity valuation, (ii) at higher levels of adjustments beyond those previously anticipated by capital market investors, the substantial effect of the new accounting standards has a negative relationship with bank equity valuation, and (iii)  larger banks have more opaque assets and therefore suffer more significant valuation discounts due to the substance effect
Corporate tax planning, the use of SPV, board independence, and firm value Iman Sofian Suriawinata; Siti Almurni
Jurnal Ekonomi dan Bisnis Vol. 26 No. 1 (2023)
Publisher : Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24914/jeb.v26i1.6383

Abstract

Banyak penelitian yang membahas peran penting special purpose vehicles (SPV) di dalam perencanaan pajak korporat, namun belum ada penelitian empiris yang mempelajari relevansi penggunaan SPV tersebut di dalam menciptakan nilai perusahaan. Penelitian ini mengisi kesenjangan tersebut dengan menginvestigasi dampak penggunaan SPV dalam konteks perencanaan pajak terhadap nilai perusahaan. Karena perencanaan pajak adalah kegiatan yang berisiko, maka perlu diketahui peran tata-kelola perusahaan di dalam memastikan bahwa perusahaan memilih tingkat aktivitas perencanaan pajak korporat yang optimal, sekaligus menghindari penyalahgunaan manajemen atas arus kas yang bersumber dari penghematan pajak. Dengan menggunakan moderated regression analysis terhadap 119 sampel perusahaan publik non-finansial dari tahun 2013 sampai 2017, penelitian ini menemukan bahwa penggunaan SPV dalam perencanaan pajak korporat meningkatkan nilai perusahaan, dan perencanaan pajak yang dimoderasi oleh independensi dewan komisaris juga meningkatkan nilai perusahaan.
Covid-19, Structural Breaks, and Capital Market Integration: Indonesian Evidence Iman Sofian Suriawinata; Pristina Hermastuti Setianingrum; Doddi Prastuti; Devvy Rusli; Diah Pranitasari
Jurnal Ekonomi Vol 32 No 01 (2023): [Jurnal STEI Ekonomi - JEMI] Vol. 32 No. 01 (Juni 2023)
Publisher : Bagian Pengelolaan Jurnal dan Penerbitan - Sekolah Tinggi Ilmu Ekonomi Indonesia (BPJP - STIE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36406/jemi.v32i01.1106

Abstract

The main purpose of this study is to investigate the cointegration between the Indonesian capital market and the selected four international capital markets – namely the Australian Stock Exchange, the New York Stock Exchange, the London Stock Exchange, and the Hong Kong Stock Exchange - with the presence of two structural breaks due to the COVID-19 pandemic. The non-standard Johansen’s, as well as the ARDL methods of cointegration analyses, are applied to five capital market indices - consisting of the Jakarta Stock Exchange Composite Index (JSCI), ASX200, Dow Jones Composite Average (DJC), FTSE 100, and Han Seng Index (HSI) - from January 2019 to December 2020. VEC and ARDL models are employed to investigate the impact of structural breaks on Indonesia’s capital market performance. The results show that there are cointegration and long-run causality relationships between the Indonesian capital market and the four international capital markets during the pandemic, and the structural breaks significantly affect market performance. The COVID-19 pandemic has had a devastating global impact on capital markets, but an effective policy response by the Indonesian government might contribute to the relatively rapid recovery of Indonesia’s capital market.. There are two important implications relating to the findings of this study. Firstly, as capital markets around the world become more integrated, the benefit of international portfolio diversification decreases. However, stock price efficiency among capital markets increases. Secondly, the results of the Granger causality test might be useful for capital market investors in predicting the impact of the performance of one capital market on the performance of other capital markets.
PROGRAM PENDAMPINGAN PEMBERDAYAAN KELOMPOK DASAWISMA DALAM MENINGKATKAN PENDAPATAN RUMAH TANGGA MELALUI PENGOLAHAN LIMBAH ORGANIK RUMAH TANGGA: PENGOLAHAN SAMPAH ORGANIK MENJADI ECO-ENZYM Diah Pranitasari; Doddi Prastuti; Pristina Hermastuti S; Kus Tri Andyarini; Enung Siti Saodah; Iman Sofian Suriawinata
Jurnal Abdimas Bina Bangsa Vol. 4 No. 2 (2023): Jurnal Abdimas Bina Bangsa
Publisher : LPPM Universitas Bina Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46306/jabb.v4i2.735

Abstract

The Community Service Program is conducted continuously for 5 years. It is a continuation of a previously implemented Community Service Program and represents the second year of the program. In the first year, training was provided on the processing of household organic waste into planting media. This second-year Community Service Program aims to empower Dasawisma groups in increasing household income through the conversion of household organic waste into eco-enzymes. Eco-enzymes are often referred to as a versatile liquid because they can be used in households, agriculture, livestock, and industry. Each activity is accompanied by a mentoring program to ensure the successful implementation and provide guidance throughout. The short-term outcome of this community service activity is that Dasawisma groups in the Ciracas sub-district of East Jakarta are capable of processing organic waste into eco-enzymes. In the long term, it is hoped that Dasawisma groups in the Ciracas sub-district of East Jakarta will be able to utilize the results of organic waste processing to enhance their supplementary income
Co-Authors Denty Melatijati Nurmalita Devvy Rusli Diah Pranitasari Doddi Prastuti Enung Siti Saodah Kus Tri Andyarini Pristina Hermastuti S Pristina Hermastuti Setianingrum Ridwan Maronrong Rimi gusliana Rony Marthin Sitohang Septiliana Septiliana Siti Almurni