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Empirical Test of Composite Stock Price Index: Regional Stock Index Wulandari, Rosita; Pratiwi, Adhitya Putri; Nopagia, Nopagia; Suripto, Suripto
JABI (Jurnal Akuntansi Berkelanjutan Indonesia) Vol. 6 No. 1 (2023): JABI (JURNAL AKUNTANSI BERKELANJUTAN INDONESIA)
Publisher : Universitas Pamulang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32493/JABI.v6i1.y2023.p21-36

Abstract

The Composite Stock Price Index (JCI) is an indicator of price movements of all shares on the Indonesia Stock Exchange where one of the factors that can influence the movement of the JCI in Indonesia is the Global Stock Index. This study aims to determine the effect of the Global Stock Index on the Composite Stock Price Index (CSPI) on the Indonesia Stock Exchange, and to analyze the Global Stock Index which has a dominant influence on the JCI. The object of this research was conducted on 5 global stock indices that are located close to and which have a major influence on the world economy on the JCI on the Indonesia Stock Exchange, which consist of the American index with the Dow Jones (DJIA), the Japanese index with the Nikkei 225 (N225), Singapore with the index Strait Times Index (STI), Malaysia with the Kuala Lumpur Composite Index (KLCI) and Hong Kong. with the Hang Seng Index (HSI). The data used is secondary data in the form of monthly. The analytical method used in this study is Ordinary Least Square (OLS) with Eviews version 9 program analysis. The results of the study show that DJIA, Nikkei225, STI, and HIS partially have no effect on the Indonesian Stock Exchange Composite Stock Price Index, while KLCI has an effect on the Indonesia Stock Exchange Composite Stock Price Index.
The Influence Of Good Corporate Governance, Intellectual Capital, And Investment Opportunity Set On Company Value Nopagia, Nopagia; Suripto, Suripto; Holiawati, Holiawati
Jurnal Ekonomi Vol. 13 No. 03 (2024): Jurnal Ekonomi, Edition July -September 2024
Publisher : SEAN Institute

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Abstract

In facing various challenges that can threaten business value, an in-depth investigation is necessary. Market trust and company prospects are highly influenced by a company's high value. This research aims to explore how effective corporate management, intellectual resources, and investment opportunities impact company value. The data used in this study is sourced from the annual financial reports of companies listed on the Indonesia Stock Exchange, specifically those included in the LQ45 index. The research employs a quantitative approach, focusing on the associative relationship between the aforementioned variables. A purposive sampling method was used for sample selection, with specific criteria set in advance. A total of 22 companies were selected as the research sample, and data was observed over a 5-year period, resulting in 110 observational data points used for analysis. The Ordinary Least Squares (OLS) method was used in this study to test the proposed hypotheses. The results show that while the investment opportunity set and intellectual resources have a positive and significant effect on company value, good corporate management does not have a significant impact on company value. This indicates that in maintaining company value, the management of intellectual resources and investment opportunities may play a more significant role than good corporate governance. In the long term, company value can continue to grow, and stakeholders will take note of this development. Therefore, companies need to keep striving to maximize their performance by considering the internal and external conditions that affect their value.