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All Journal E-Jurnal Akuntansi Universitas Udayana JURNAL EMBA : JURNAL RISET EKONOMI, MANAJEMEN, BISNIS DAN AKUNTANSI International Conference on Law, Business and Governance (ICon-LBG) JURNAL SOSIAL HUMANIORA (JSH) Management Studies and Entrepreneurship Journal (MSEJ) Enrichment : Journal of Management Proceeding National Conference Business, Management, and Accounting (NCBMA) Proceeding of International Conference on Entrepreneurship (IConEnt)
William Tjong
Universitas Pelita Harapan
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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PENGARUH LIKUIDITAS, PROFITABILITAS, DIVIDEND PAYOUT RATIO DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA INDUSTRI RUMAH SAKIT YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015 – 2019 ., Meilina; Tjong, William
Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi Vol 9, No 1 (2021): JE VOL 9 NO 1 (2021)
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (939.807 KB) | DOI: 10.35794/emba.v9i1.32590

Abstract

This study aims to analyze the impact of liquidity, profitability, dividend payout ratio and company size give or have an influence on firm value. For companies that are already publicly owned or have a go-public status, the company value is an indicator of their financial performance. A high company value has a high nominal share price, where the share price is formed by the large number of requests (bid price) and offer price in the capital market. All shares of the company are transacted or traded through a trading mechanism on the Indonesia Stock Exchange (IDX). In this study, the analysis was carried out on companies engaged in the hospital industry and listed on the Indonesia Stock Exchange (IDX) for the 2015-1019 period. The sampling method used purposive sampling method with a sample size of 80 samples from 4 major hospitals listed as issuers on the IDX for the last 5 years. The analytical method used is multiple linear regression analysis using the Statistical Package of the Social Sciences (SPSS) program version 24 as an aid to perform classical assumption tests and partial tests (t-test) with the real level (a) = 5%. The results of this study indicate that liquidity has a positive and significant effect on firm value, while profitability, dividend payout ratio and firm size do not have a significant effect on firm value.Keywords: liquidity, profitability, dividend payout ratio, firm size and firm valuePada penelitian ini mempunyai tujuan apakah likuiditas, profitabilitas, dividend payout ratio dan ukuran perusahaan memberikan atau mempunyai pengaruh terhadap nilai perusahaannya. Untuk perusahaan yang sudah menjadi milik publik atau berstatus go-public, maka nilai perusahaan adalah menjadi indikator kinerja keuangan mereka. Nilai perusahaan yang tinggi memiliki nominal harga saham yang juga tinggi, dimana harga saham tersebut terbentuk oleh banyaknya jumlah banyaknya permintaan (bid price) dan penawaran (offer price) di pasar modal. Seluruh lembar saham perusahaan tersebut ditransaksikan atau diperjualbelikan melalui mekanisme perdagangan pada Bursa Efek Indonesia (BEI). Pada penelitian ini, analisis dilakukan pada perusahaan yang bergerak dalam industri rumah sakit dan terdaftar di Bursa Efek Indonesia (BEI) untuk periode 2015-2019. Cara pengambilan sampel dengan menggunakan metode purposive sampling dengan besar sampel adalah 80 sampel dari 4 rumah sakit besar yang terdaftar sebagai emiten di BEI selama 5 tahun terakhir. Metode analisis yang digunakan adalah analisi regresi linier berganda dengan menggunakan program Statistical Package for the Social Sciences (SPSS) versi 24 sebagai bantuan untuk melakukan uji asumsi klasik dan uji parsial (uji-t) dengan taraf nyata (a) = 5%. Hasil penelitian ini memperlihatkan bahwa likuiditas berpengaruh positif dan signifikan terhadap nilai perusahaan, sedangkan profitabilitas, dividend payout ratio dan ukuran perusahaan tidak memiliki pengaruh yang signifikan terhadap nilai perusahaan.Kata kunci: likuiditas, profitabilitas, dividend payout ratio, ukuran perusahaan, nilai perusahaan
The Impact of Liquidity, Profitability And Activity Ratio To The Probability Of Default For Banking Companies Listed in Indonesia Stock Exchanges For The Period 2006 To 2012 William Tjong; Herlina Lusmeida
International Conference On Law, Business and Governance (ICon-LBG) Vol 1 (2013): 1st ICon-LBG
Publisher : UBL

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (566.636 KB)

Abstract

The purposes of this study is to examine the probability of default for banking companies listed in Indonesian Stock Exchange (IDX) for the period from 2006 to 2012. A high probability of default in the future have worried the companies and public. Therefore several urgent and important actions need to be taken to improve the performance of these listed companies. Several measures which might be related to performance could be liquidity, profitability and activity ratio to examine the performance of these companies.The population of this study is all the banking companies listed in IDX for the period of 2006 until 2012. To evaluate banks’ probability of default, we use some sample of banks by using Altman’s approach. The result shows Altman’s Z score ratio for almost banks in A category still have ratio under 1.11. Bank that has Z-Score </= 1.11 indicate that the bank in A category are in financial distress and has high risk. This study shows that the Z-Score of the companies doesn’t always indicate about the existence of the companiesconsistenly.
Profitabilitas, Solvabilitas, Likuiditas, dan Nilai Perusahaan Rumah Sakit yang Terdaftar di BEI 2015-2019 Anry Umar; William Tjong
E-Jurnal Akuntansi Vol 31 No 5 (2021)
Publisher : Accounting Department, Economic and Business Faculty of Universitas Udayana in collaboration with the Association of Accounting Department of Indonesia, Bali Region

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2021.v31.i05.p17

Abstract

The hospital is a socio-economic service company. The research objective is to analyze the effect of profitability, solvency, and liquidity on the company value of the hospital industry. The study population was hospitals in sector 9 – trade, subsector 96 - health in the IDX for the 2015-2019. The sample was taken using nonprobability sampling method with purposive sampling technique of four issuers. This study uses a quantitative approach with data collection then processed with Eviews and the analysis technique used is panel data regression. From the results of the study using data panel regression with FEM approach and a significance value of 0.05; The p-value of ROE 0.3403, DER 0.0000 CR 0.0076. ROE, DER and CR have positive regression coefficients. The MIKA intercept value is 3.37330659, SAME -3.1121377, SILO 0.694458, and SRAJ -1.303740. R2 of ROE, DER and CR on PBV is 76.9%. The conclusion in this study, DER and CR have a significant and positive effect on PBV. Meanwhile, ROE has no significant effect on PBV, but has a positive relationship. Keywords: The value of the company; Profitability; Solvency; Liquidity; Hospital.
PENGARUH STRATEGI VALUE, SIZE DAN MOMENTUM TERHADAP EXCESS RETURN DI INDONESIA Gleny Gleny; William Tjong
JURNAL SOSIAL HUMANIORA (JSH) Vol 7, No 2 (2014)
Publisher : Institut Teknologi Sepuluh Nopember

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (393.393 KB) | DOI: 10.12962/j24433527.v7i2.587

Abstract

The purpose of this research is to investigate the impact from the strategies that used by investors in Indonesia, such as value, size and momentum strategy. Sample data is a monthly data of 100 non-financial individual stocks which fulfill the requirement, from July 2006 – December 2010 and use 12 months holding period. This research also use ARCH method to test heteroscedasticity and VIF method to test multicolinearity. The outcome form this research is value strategy based on book to market ratio, size strategy based on market capitalization and momentum strategy based on past six months price are not significant in Indonesia. This can be happened because of the depreciation in Indonesia currency and crisis years. In addition, Indonesia is one of emerging market in Asia, so that some of the information must be difficult and make imperfect market.
The Effect of Capital Structure on Stock Returns in Companies Listed on the Indonesia Stock Exchange for the 2015-2019 Period William Tjong; Rion Kurniawan
Enrichment : Journal of Management Vol. 12 No. 1 (2021): November: Management Science
Publisher : Institute of Computer Science (IOCS)

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Abstract

This research is entitled The Effect of Capital Structure on Share Earnings in Companies Listed on The Indonesia Stock Exchange for The 2015-2019 Period. This journal analyzes the effect of capital structure on stock returns in Indonesia. Where capital structure can be regarded as one of the factors that can explain stock returns. The data used in the study are companies that have been listed on the Kompas 100 index on the Indonesia Stock Exchange (IDX) in Indonesia which publish periodic financial reports from 2015 to 2019, the data used is time series data, data obtained from yahoo finance , and the Indonesia Stock Exchange website. The results showed that the capital structure has no significant effect on stock returns, but other control variables such as earnings per share, return on assets and size have a significant effect on stock returns.
The Impact of the Covid-19 Pandemic on the Stock Market: Empirically (Analysis of Indonesia's Major Stock Index) William Tjong; Michael Michael
Enrichment : Journal of Management Vol. 12 No. 1 (2021): November: Management Science
Publisher : Institute of Computer Science (IOCS)

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Abstract

This study aims to investigate the impact of the COVID-19 pandemic on major stock indexes in Indonesia. Researchers construct weekly data panels from stock index returns, new cases of the COVID-19 pandemic and new confirmed cases of the COVID-19 pandemic. Pooled OLS regression, conventional t-test and Mann Whitney test were used to estimate the results in this study. The results in this study show that new cases of the COVID-19 pandemic and new confirmed cases of the COVID-19 pandemic are significantly related to weekly stock index returns, then this study shows that there is a difference in weekly returns before the COVID-19 pandemic with weekly returns when occurrence of the COVID-19 pandemic.
Stock Selection Analysis on the IDX30 Stock Index Listed on the Indonesia Stock Exchange Using the Single Index Model Ignatius Reysa Nugroho; William Tjong
Enrichment : Journal of Management Vol. 12 No. 1 (2021): November: Management Science
Publisher : Institute of Computer Science (IOCS)

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Abstract

This research is entitled Analysis of Share Selection on The Idx30 Stock Index Listed on The Indonesia Stock Exchange Using Single Index Model. This study aims to determine the optimal stock as a basis for decisions in determining investment in company shares that are in the IDX30 stock index listed on the Indonesia Stock Exchange (IDX) using the Single Index Model method. The research period used is January 2015 – December 2019. The population of this study is 30 stocks listed in the IDX30 stock index. The sample of this study was determined by purposive sampling with the criteria of stocks listed on the IDX30 index consecutively during the study period. So there are 19 stocks that became the sample of this study. The results of the analysis using the Single Index Model method, can form the best stock selection consisting of BBCA 56.94%, CPIN 9.34%, ICBP 17.91%, BBRI 9.29%, ADRO 3.39%, and TLKM 3.12%. The results of this study indicate that it is possible to build stock selections with maximum returns for a certain level of risk on the IDX30 stock index using the Single Index Model for the period January 2015 – December 2019.
DAMPAK MANAJEMEN WORKING CAPITAL TERHADAP PROFITABILITAS PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA William Tjong; Donny Donny
Proceeding National Conference Business, Management, and Accounting (NCBMA) 6th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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Abstract

Penelitian ini mencoba menguji bagaimana manajemen working capital mempengaruhi kinerja perusahaan dalam jangka pendek Manajemen working capital diukur berdasarkan cash conversion cycle, inventory turnover, days payable outstanding dan account receivable turnover. Sedangkan kinerja jangka pendek diukur menggunakan return on invested capital perusahaan. Data dikumpulkan secara tahunan untuk perusahaan non keuangan dan non perbankan yang terdaftar di Bursa Efek Indonesia. Hasil penelitian ini menunjukan bahwa manajemen working capital mempengaruhi kinerja perusahaan. Khususnya variable cash conversion cycle yang nemiliki pengaruh negatif terhadap profitibilitas perusahaan. Hal tersebut menunjukan bahwa jika perusahaan dapat mempercepat waktu dalam pengelolaan cash conversion cyclenya maka perusahaan dapat meningkatkan profitabilitas baik secara partial atau bersama-sama.
Analysis of Leverage, Managerial Ownership, and Dividend Policy in Agency Theory Perspective William Tjong; Stevanie Stevanie
Proceeding of International Conference on Entrepreneurship (IConEnt) Vol 3 (2023): Proceeding of 3rd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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Abstract

The purpose of this research is to test the effect of leverage, managerial ownership, and dividend policy on agency conflict. The agency conflict in this study is proxied by the value of the company measured through Tobin's Q Ratio, while the independent variables use leverage, managerial ownership, and dividend policy. The partial analysis tools in this study used Ordinary Less Square (OLS). Samples are companies listed on Indonesia Stock Exchange for the period of study. The results of this study are leverage has a negative relationship in reducing agency conflict in companies, managerial ownership does not affect the firm value, and dividend policy has a positive and significant effect in reducing agency conflict in companies.
Pengaruh Persepsi Harga, Kualitas Pelayanan Dan Kepuasan Pelanggan Terhadap Loyalitas Pelanggan Pada PT Nicky Tri Cahaya Medan Chrysant Lambok Chandra; Rosinta Romauli Situmeang; Citra Lius Winardi; Caroline Caroline; Chandra Wijaya; William Tjong
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 4 No. 3 (2023): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v4i3.2054

Abstract

Tujuan Penelitian adalah untuk Persepsi Harga, Kualitas Pelayanan dan Kepuasan Pelanggan terhadap Loyalitas Pelanggan pada PT Nicky Tri Cahaya Medan. Pendekatan penelitian ini berdasarkan pendekatan kuantitatif. Populasi dalam penelitian ini berjumlah 132 pelanggan dan jumlah sampel dalam penelitian ini adalah sebanyak 99 pelanggan.. Teknik sampling yang digunakan adalah sampling random sampling, Teknik pengumpulan data mengunakan kuesioner, wawancara dan studi dokumentasi. Teknik analisa data mengunakan análisis regresi linear berganda. Hasil pengujian hipotesis secara parsial diperoleh nilai thitung > ttabel atau 3,412 > 1,985 dan signifikan yang diperoleh 0,001 < 0,05, berarti b secara parsial Persepsi Harga berpengaruh positif dan signifikan terhadap Loyalitas Pelanggan pada  PT  Nicky Tri Cahaya Medan. Hasil pengujian hipotesis secara parsial diperoleh nilai thitung > ttabel atau 3,520 > 1,985 dan signifikan yang diperoleh 0,001 < 0,05, berarti  b  secara  parsial  Kualitas Pelayanan berpengaruh positif dan signifikan terhadap Loyalitas Pelanggan pada PT Nicky Tri Cahaya Medan. Hasil pengujian hipotesis secara parsial diperoleh nilai thitung > ttabel atau 2,256 > 1,985 dan signifikan yang diperoleh 0,026 < 0,05,  berarti  secara  parsial  Kepuasan Pelanggan berpengaruh positif dan signifikan  terhadap  Loyalitas  Pelanggan  pada PT Nicky Tri Cahaya Medan. Hasil pengujian diperoleh nilai F hitung  (25,707) > F tabel  (2,70)  dan probabilitas signifikansi 0,000 < 0,05, berarti secara simultan Persepsi Harga, Kualitas Pelayanan dan Kepuasan Pelanggan berpengaruh positif dan signifikan terhadap Loyalitas Pelanggan pada PT Nicky Tri Cahaya Medan.
Co-Authors ., Meilina Anry Umar Caroline Caroline chandra wijaya Chrysant Lambok Chandra Citra Lius Winardi Donny Donny Gleny Gleny Herlina Lusmeida Ignatius Reysa Nugroho Michael Michael Rion Kurniawan Rosinta Romauli Situmeang Stevanie Stevanie