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Implication of Macroeconomic Factors to Stock Returns of Indonesian Property and Real Estate Companies Maharditya, Muhammad Adika; Layyinaturrobaniyah, Layyinaturrobaniyah; Anwar, Mokhamad
JDM (Jurnal Dinamika Manajemen) Vol 9, No 1 (2018): March 2018 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v9i1.14656

Abstract

This study aims to identify the effect of interest rate change policy made by Bank Indonesia during the period of January 2010-March 2016 to stock return of the property sector and real estate. In addition, this study also aims to test whether fluctuations in government bond yields, inflation, and indigo exchange also affect the stock returns of the property sector and real estate in Indonesia. By using purposive sampling, there are 15 companies that will be used as research samples. By using multiple linear regression analysis, there is no significant negative effect of interest rate (BI Rate) and inflation on stock return of the property sector and real estate. Nevertheless, it was found that the variable fluctuation of government bond yield and dollar exchange rate against rupiah had a negative and significant effect on stock returns of property and real estate sector in Indonesia. Increased bond yield would make investors choose other instruments as an alternative to investing money. In addition, investors also tend to choose to save money in the form of US Dollar rather than investing money in the capital market, further with the weakening of the value of the rupiah will increase the amount of foreign debt from the company.
ANALISIS REAKSI PASAR MODAL INDONESIA TERHADAP PENGUMUMAN INVESTMENT GRADE INDONESIA Layyinaturrobaniyah, Layyinaturrobaniyah; Novelita, Pandu
Jurnal Ekonomi dan Bisnis Vol 14, No 2 (2018): Edisi November 2018
Publisher : Jurnal Ekonomi dan Bisnis Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/jebt.v14i3.522

Abstract

Studi ini menyelidiki dampak pengumuman peringkat investasi Indonesia terhadap reaksi pasar yang diproksi dengan return saham abnormal melalui metode studi peristiwa. Penelitian ini bertujuan untuk menganalisis abnormal return seputar pengumuman event investment grade Indonesia. Populasi dalam penelitian ini adalah semua perusahaan yang merupakan saham yang terdaftar di Bursa Efek Indonesia. Kami menggunakan 55 perusahaan sebagai sampel dengan teknik purposive sampling, Hasil penelitian menunjukkan bahwa reaksi pasar muncul atas pengumuman peningkatan tingkat investasi Indonesia yang ditunjukkan oleh munculnya pengembalian abnormal yang positif dan signifikan pada t-3, t-2 , t0, dan t + 4. Ini menunjukkan bahwa pasar modal Indonesia masih tidak efisien dalam bentuk setengah kuat karena diduga kebocoran informasi terjadi sebelum pengumuman dibuat dan juga pasar cenderung lambat dalam merespons karena Reaksi pasar masih ditemukan beberapa hari setelah pengumuman.
MANAJEMEN MODAL KERJA DAN PROFITABILITAS PADA PERUSAHAAN OTOMOTIF DAN KOMPONEN YANG TERDAFTAR DI BURSA EFEK INDONESIA Layyinaturrobaniyah, Layyinaturrobaniyah
Jurnal Ekonomi dan Bisnis Vol 15, No 1 (2019): Edisi April 2019
Publisher : Jurnal Ekonomi dan Bisnis Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/jebt.v15i1.312

Abstract

This study aims to determine and analyze the effect of working capital management measured using the Current Assets to Total Assets Ratio (CATAR) and Current proxy to Total Assets Ratio (CLTAR) proxy to profitability measured by calculating the Return on Assets (ROA) ratio. By using the purposive sampling method obtained as many as 11 samples of Automotive and Component companies listed on the Indonesia Stock Exchange for the period 2012-2016. The analytical method used is multiple linear regression analysis. The results showed that the Current Assets to Total Assets Ratio (CATAR) had a significant positive effect on ROA. Furthermore, the Current Liabilities to Total Assets Ratio (CLTAR) has a significant negative effect on ROA. Meanwhile, based on simultaneous testing, the results show that the CATAR and CLTAR variables together have an effect on ROA. For this reason, the company needs to analyze the management of its working capital well because the proportion of working capital owned can affect the profitability of the company. Key Words: Working capital management, Profitability, Current Assets to Total Assets Ratio (CATAR), Current Liabilities to Total Assets Ratio (CLTAR), Return on Assets (ROA)
Lending Rationale of Financial Institution and Fintech on the Perception of Borrowers: A Qualitative Study Anwar, Mokhamad; Nidar, Sulaeman Rahman; Widianto, Sunu; Layyinaturrobaniyah, Layyinaturrobaniyah
JDM (Jurnal Dinamika Manajemen) Vol 12, No 2 (2021): September 2021 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v12i2.31896

Abstract

The development of Financial Institutions including Financial Technology (Fintech) in providing loans to borrowers is increasingly important in the current business financing system. This study aims to determine the perceptions of borrowers by exploring their views on lending practices pro- vided by financial institutions and fintech and identifying the factors that influence the institution’s decision to provide loans to them. This study uses a qualitative research method by asking a number of questions to debtors in one of the Micro and Small and Medium Enterprises (MSMEs) commu- nities in the city of Bandung, Indonesia. The questionnaire form is in the form of open-ended ques- tions and is distributed to 47 MSMEs in the city with various types of business fields. The results show that the factors that influence the success of borrowers in obtaining credit from both financial institutions and fintech are the factors classified as 5 Cs of credit in terms of Character, Capacity, Capital, Collateral, and Conditions. All these factors are summarized as soft information and hard information, which are applied by financial institutions and financial technology institutions.
Capital Structure and Firm's Growth in Relations to Firm Value at Oil and Gas Companies Listed in Indonesia Stock Exchange Muhammad Daffa Hamam; Layyinaturrobaniyah Layyinaturrobaniyah; Aldrin Herwany
Journal of Accounting Auditing and Business Vol 3, No 1 (2020): January Edition
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/jaab.v3i1.24760

Abstract

The value of the firm is an investor's perception of the firm's success that is often associated with the performance of its shares. The height of the firm’s value, indicating that the market believes in not only the firm's present condition but also in the firm's prospect. Several factors are thought to affect the value of the firm, like funding decisions, dividend policy, stock decision, firm growth, and firm size. This study aims to see whether there is any effect of capital structure and the level of firm growth on firm value. The sample used in this study was six oil and gas companies listed on the Indonesia stock exchange in the 2013-2017 period. Regression analysis is built on an unbalanced panel data set. The results of this study indicate that the capital structure proxied by the variable debt to equity ratio has a negative coefficient direction but is not significant to the firm's value, while the growth rate has a positive effect coefficient direction on the firm's value but also not significant
LEMBAGA KEUANGAN MIKRO DAN PEMBERDAYAAN PEREMPUAN SEBAGAI UPAYA PENGENTASAN KEMISKINAN DI KABUPATEN SUMEDANG Layyinaturrobaniyah Layyinaturrobaniyah
Sosiohumaniora Vol 21, No 2 (2019): SOSIOHUMANIORA, JULI 2019
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (299.561 KB) | DOI: 10.24198/sosiohumaniora.v21i2.19516

Abstract

Lembaga keuangan mikro disebut sebagai suatu lembaga yang dapat memberikan kemudahan bagi para pengusaha kecil dan mikro dalam pemberian kredit mikro untuk melakukan pengembangan usaha serta untuk mengentaskan kemiskinan. Penelitian ini bertujuan untuk mengetahui pengaruh lembaga keuangan mikro dan pemberdayaan perempuan terhadap tingkat kemiskinan pada Orang terkena Dampak di daerah sekitar pembangunan Waduk Jatigede, Sumedang, Jawa Barat, dengan populasi sebesar 10.924 orang. Dengan metode non-probability sampling dengan teknik purposive sampling dipilih 100 orang terkena dampak pembangunan waduk Jatigede yang tersebar di lima kecamatan di Sumedang yakni Cisitu, Darmaraja, Wado, Jatigede dan Jatinunggal. Pengumpulan data dilakukan melalui pengisian kuisioner langsung kepada masyarakat OTD. Untuk mengetahui pengaruh dari lembaga keuangan mikro dan pemberdayaan perempuan terhadap tingkat kemiskinan, penelitian ini menggunakan analis PLS SEM. Hasil dari penelitian ini menunjukkan bahwa lembaga keuangan mikro dan pemberdayaan perempuan secara simultan mempengaruhi tingkat kemiskinan. Secara parsial, lembaga keuangan mikro dan pemberdayaan perempuan memberikan dampak yang positif dan signifikan terhadap pengurangan tingkat kemiskinan di Kabupaten Sumedang, khusunya di 5 Kecamatan yaitu Cisitu, Darmaraja, Wado, Jatigede dan Jatinunggal. Dengan melakukan pemberdayaan perempuan melalui pemberian akses yang lebih pada perempuan dengan pemanfaatan kredit mikro akan membantu menambah penghasilan keluarga, khususnya bagi masyarakat OTD. 
AGENCY COST PADA PERUSAHAAN KELUARGA DAN NON KELUARGA Layyinaturrobaniyah Layyinaturrobaniyah; Rachmat Sudarsono; Desi Fitriyana
Jurnal Siasat Bisnis Vol. 18 No. 2 (2014)
Publisher : Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jsb.vol18.iss2.art3

Abstract

Penelitian ini bertujuan untuk mengetahui seberapa besar pengaruh agency cost terhadap kinerja perusahaan pada perusahaan keluarga dan non keluarga. Agency cost dalam penelitian ini diproksikan dengan expense ratio dan asset utilization ratio, sementara itu kinerja perusahaan diproksikan dengan rasio Tobin’s Q. Sampel dalam penelitian ini sebanyak 32 perusahaan dengan struktur kepemilikan keluarga dan 22 perusahaan dengan struktur kepemilikan non keluarga yang terdaftar di Bursa Efek Indonesia periode tahun 2008-2010. Dengan analisis regresi data panel diperoleh hasil bahwa expense ratio memiliki pengaruh negatif signifikan terhadap kinerja perusahaan. Sementara itu, untuk asset utilization ratio memiliki pengaruh positif terhadap kinerja perusahaan. Lebih lanjut, dengan efek moderasi, kepemilikan keluarga dapat memperlemah pengaruh negatif agency cost yang diproksikan dengan expense ratio dan dapat memperlemah pengaruh positif agency cost yang diproksikan dengan asset utilization ratio terhadap kinerja perusahaan.Kata Kunci: Agency cost, Agency problem, Kepemilikan keluarga, Rasio Tobin’s Q.
Model Pengembangan Program Corporate Social Responcibility (CSR) Melalui Pemberdayaan Modal Intelektual Dalam Upaya Peningkatan Pemerataan Pendidikan (Survey Di Kota Bandung) Wa Ode Zusnita; Ernie Tisnawati; Layyinaturrobaniyah Layyinaturrobaniyah
Jurnal Manajemen dan Bisnis Indonesia Vol 2 No 1 (2014): Jurnal Manajemen Bisnis Indonesia - Edisi Oktober 2014
Publisher : Forum Manajemen Indonesia (FMI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31843/jmbi.v2i1.41

Abstract

Perusahaan memiliki tanggung jawab sosial guna memberikan kesejahteraan bagi masyarakat dan lingkungan sekitar. Program tanggung jawab sosial (corporate social responsibility) yang dilakukan perusahaan dapat berupa kegiatan di bidang pendidikan, kesehatan, sosial, dan lingkungan. Penelitian yang kami lakukan untuk mengetahui bagaimana program CSR yang dilakukan oleh BUMN di Bandung serta membuat model berkaitan dengan CSR pendidikan yang dilakukan oleh perusahaan. Berdasarkan penelitian yang dilakukan terhadap 35 BUMN di kota Bandung, program CSR yang banyak dilakukan adalah di bidang pendidikan dan lingkungan. Penelitian ini dilakukan untuk (1) Mengidentifikasi program-program CSR BUMN yang ada di Kota Bandung, (2) Mengidentifikasi program-program CSR BUMN yang ada di Kota Bandung yang berkaitan dengan pendidikan di Kota Bandung, (3) Menyusun program pelatihan (TOT) bagi sumber daya intelektual (dosen, profesional perusahaan, dan mahasiswa) yang terkait dengan program CSR di bidang pendidikan, (4) Merancang sebuah model pengembangan CSR dalam pendidikan sehingga dapat dijadikan acuan dan bahan evaluasi oleh pihak-pihak terkait untuk pengembangan selanjutnya. Metode yang digunakan di dalam penelitian ini adalah metode cross sectional berdasarkan studi pustaka dan survey (wawancara, focus group discussion, dan observasi). Tahapan kegiatan penelitian dimulai dari (1) tahap penyusunan desain studi, (2) penyusunan instrumen, (3) penarikan sampel, (4) pengumpulan data di lapangan, (5) tabulasi data, (6) pemilihan dan pemilahan data, (7) analisis data, dan (8) pelaporan. Berdasarkan hasil analisis dari 35 kuesioner yang diperoleh dari 35 BUMN di Bandung, bahwa CSR BUMN dilakukan dalam hal pendidikan, kesehatan, lingkungan, dan ekonomi. Bentuk program CSR di bidang pendidikan yang dilakukan oleh 35 BUMN di Bandung adalah berupa pemberian beasiswa, serta bantuan sarana dan prasarana sekolah. Keywords : Tanggung Jawab Sosial, Sumber Daya Intelektual
INDONESIAN CAPITAL MARKET REACTIONS FOR THE ELECTION OF DONALD TRUMP AS UNITED STATES PRESIDENT (EMPIRICAL STUDY ON MULTINATIONAL COMPANIES LISTED ON THE INDONESIA STOCK EXHANGE) Daniel Christopher; Layyinaturrobaniyah .
Journal of Management and Business Vol 18, No 1 (2019): MARCH 2019
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (195.865 KB) | DOI: 10.24123/jmb.v18i1.365

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This study aims to determine the market reaction to the announcement of the Donald Trump as the elected President of the United States, as seen from the performance of the shares of multinational companies on the Indonesia Stock Exchange (BEI) and tests market efficiency in a half-strong form. This research uses purposive sampling technique with samples of 24 multinational companies and uses a market model to calculate abnormal return. The results show that first, there are significant average abnormal returns at t-6, t-4, t-3, t-2, then at t + 1 to t + 7 and negative cumulative average abnormal returns. Second, there are smaller but significant average abnormal returns after Donald Trumph's announcement as President of the United States than average abnormal returns before the announcement during the window period. Third, trading volume activity decreases significantly after the announcement of Donald Trump as the elected President of the United States. The results of the research prove that the market reacts to the announcement of Donald Trump as the elected President of the United States or it can be said that the announcement has a negative information content on the performance of the stock market represented by the stock performance of multinational companies. In addition, these results prove that the Indonesian capital market is not efficient in half-strong form due to information leakage and reaction that is quite slow in responding to the announcement of Donald Trump as the elected President of the United States.
EFFICIENCY AND COMPETITIVENESS OF BANK PERKREDITAN RAKYAT (BPR) IN THE BALI PROVINCE OF INDONESIA Layyinaturrobaniyah .; Mokhamad Anwar; Ratna Komara; Sulaeman Rahman Nidar
Journal of Management and Business Vol 18, No 2 (2019): SEPTEMBER 2019
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (340.556 KB) | DOI: 10.24123/jmb.v18i2.366

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This study aims to estimate and test technical efficiency and conduct analysis on the competitiveness of BPRs in the Province of Bali for the period 2012-2016. Estimation on efficiency with the Data Envelopment Analysis (DEA) method was carried out on 134 BPRs whose data is obtained from OJK Regional Office 8 Bali and Nusa Tenggara. Meanwhile, to analyze competitiveness, a questionnaire was distributed to BPR customers, upon which data from customers is analyzed by Focus Group Discussion (FGD) together with BPR and OJK management as regulators. The Results of this study showed that in average, the technical efficiency of BPRs in Bali decreased from year to year from, i.e., 0.6581 in 2012 to 0.5993 in 2016. Buleleng Regency is listed as an area that has the most efficient BPRs with an average efficiency value of 0.7575, then followed BPRs from Karangasem Regency in second place with efficiency scores of 0.7184, and BPRs from Gianyar Regency in third place with a score of 0.6854. Further, based on the results of the analysis of competitiveness and from the FGD, it can be concluded that one of the strengths of BPRs in Bali Province is the loyalty of its customers.