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Journal : Jurnal Pasar Modal dan Bisnis

Integrasi Pasar Saham Indonesia Dengan Pasar Saham Asia Didik Gunawan; Willy Cahyadi
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (412.16 KB) | DOI: 10.37194/jpmb.v1i2.27

Abstract

This study aims to prove the integration of the Indonesian stock market with the stock markets of countries in Asia, especially the largest trading partners. The population in this study is the monthly data of Nikkei225, KLSE, STI, SSE and LQ45 for the period 2014 to 2018, using VAR modeling. The results of this study prove that in the interaction of the Indonesian stock market with Asian trading partners, especially China, Japan, Singapore and Malaysia, this study proves that only Japan is not significantly related to the Indonesian economy, the decline in trade volume and trade wars are the main causes of these results.
Leverage Determinants Analysis Of Manufacturing Companies Registered in Indonesia Stock Exchange 2014-2018 Mangasi Sinurat; Willy Cahyadi
Jurnal Pasar Modal dan Bisnis Vol 3 No 1 (2021)
Publisher : The Indonesia Capital Market Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37194/jpmb.v3i1.64

Abstract

This study aims to determine the effect of liquidity, growth opportunities, profitability and company size on the leverage of manufacturing companies listed on the Indonesia Stock Exchange. The period used in this research is 5 years, starting from 2014 to 2018. The population in this study is 126 manufacturing companies that have been and are still listed on the Indonesia Stock Exchange for the period 2014-2018. The sample selection technique was purposive sampling method and obtained 40 manufacturing companies that were used as samples. The data analysis technique used is multiple linear regression. Based on the results of data analysis, liquidity and profitability partially have a negative and significant effect on Leverage, Growth Opportunity has no effect on Leverage, Firm Size has no effect on Leverage. Based on the Anova test, it is known that the F statistical value is (107.502) with a significance of (0.000). The adjusted R Square value is (0.682 or 68.2%), this is, if the independent variable is statistically significant in influencing the dependent variable, there is an indication of heteroscedasticity. We recommend that if the independent variable is not statistically significant in affecting the dependent variable, there is no indication of heteroscedasticity. This is observed from the significance of the profitability above the 5% confidence level. Keywords: Leverage, Liquidity, Growth Opportunity, Profitability, Company Size