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FREE CASH FLOW KINERJA KEUANGAN DAN AGENCY COST PADA PERUSAHAAN PERDAGANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Mamay Komarudin; Naufal Affandi
Equilibrium : Jurnal Ilmiah Ekonomi, Manajemen dan Akuntansi Vol 8, No 2 (2019)
Publisher : Lembaga Penerbitan dan Publikasi Ilmiah (LPPI) Universitas Muhammadiyah Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (245.21 KB) | DOI: 10.35906/je001.v8i2.374

Abstract

AbstrakPenelitian ini bertujuan untuk menganalisis bagaimana pengaruh free cash flow dan agency cost terhadap kinerja perusahaan pada sektor perdagangan di Bursa Efek Indonesia. Tujuan yang lain adalah untuk menguji agency cost sebagai variabel moderating dari pengaruh free cash flow terhadap kinerja perusahaan sektor perdagangan di Bursa Efek Indonesia. Penelitian merupakan  penelitian penjelasan (explanatory research) yang dilakukan pada perusahaan perdagangan yang terdaftar di Bursa Efek Indonesia. Variabel penelitian ini antara lain free cash flow dan agency cost sebagai variabel independen sedangkan variabel dependen adalah kinerja perusahaan yang diproksikan dengan rasio profitabilitas (ROA). Populasi penelitian idalah 53 perusahaan sektor perdagangan yang terdaftar di Bursa Efek Indonesia pada tahun 2013 sampai 2016. Pemilihan sampel dilakukan dengan purposive sampling sehingga terpilih menjadi 25 perusahaan. Alat analisis data menggunakan Moderating Regression Analysis (MRA). Penelitian menghasilkan bahwa free cash flow berdampak negatif terhadap agency cost.  Free cash flow tidak berpengaruh terhadap kinerja perusahaan. Agency cost meningkatkan pengaruh free cash flow terhadap kinerja perusahaan.Kata kunci: Agency Cost, Free Cash Flow,  Kinerja, Profitabilitas dan Sektor Perdagangan. AbstractThis study aims to analyze how the influence of free cash flow and agency cost on company performance in the trading sector on the Indonesia Stock Exchange. Another objective is to examine agency cost as a moderating variable of the effect of free cash flow on the performance of trading sector companies on the Indonesia Stock Exchange. The research is analytical research conducted on trading companies listed on the Indonesia Stock Exchange. The variables of this study include free cash flow and agency cost as the independent variable. In contrast, the dependent variable is the company's performance, which is proxied by the profitability ratio (ROA). The research population was 53 trade sector companies listed on the Indonesia Stock Exchange in 2013 to 2016. The sample selection was made by purposive sampling so that it was selected to be 25 companies. The data analysis tool uses the Moderating Regression Analysis (MRA). Research has shown that free cash flow harms agency costs. Free cash flow does not affect company performance. Agency cost increases the effect of free cash flow on company performance.Keywords: Agency Cost, Free Cash Flow, Performance, Profitability and the Trade Sector.
EFISIENSI PERBANKAN SYARIAH DI INDONESIA Mamay Komarudin; Saepudin
Valuasi : Jurnal Ilmiah Ilmu Manajemen dan Kewirausahaan Vol. 1 No. 1 (2021): Jurnal Valuasi : Jurnal Ilmiah Ilmu Manajemen dan Kewirausahaan
Publisher : LP2M Universitas Bina Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46306/vls.v1i1.2

Abstract

Tujuan penelitiannya adalah 1) mengukur tingkat efisiensi Bank Umum Syariah di Indonesia selama tahun 2010-2015, 2) menganalisis faktor-faktor yang mempengaruhi tingkat efisiensi Bank Umum Syariah di Indonesia. Data dikumpulkan dari seluruh Bank Umum Syariah di Indonesia yang beroperasi selama tahun 2010-2015 lalu diambil sampel yaitu Bank Muamalat Indonesia, Bank Syariah Mandiri, BNI Syariah dan BRI Syariah. Hasil penelitian menunjukkan: 1) Efisiensi Bank Umum Syariah Kurun Waktu Tahun 2010 sampai dengan 2015 secara individual yaitu: a) Bank Nasional Indonesia Syariah (BNIS), nilai efisiensi rata-rata BNIS mencapai titik puncak pada tahun 2011. b)Bank Muamalat Indonesia (BMI), nilai efisiensi rata-rata sebesar mencapai puncak pada tahun 2015 c) Bank Syariah Mandiri (BSM), nilai efisiensi rata-rata BSM pada mulanya menunjukkan angka yang fantastis pada tahun 2010 d) Bank Rakyat Indonesia Syariah (BRIS), nilai efisiensi  2015 mengalami peningkatan, 2) Faktor-faktor yang Mempengaruhi Tingkat Efisiensi Bank Umum Syariah    NPF, ROA, ROE dan FDR  terhadap efisiensi BUS tidak ada berpengaruh.
Empirical Study of Tranfer Pricing in Consumption Companies on the Indonesia Stock Exchange Mamay Komarudin
Profita : Komunikasi Ilmiah Akuntansi dan Perpajakan Vol 14, No 1 (2021)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Mercu Buana, Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/profita.2021.v14i1.010

Abstract

The purpose of this research is to analyze the influence of good corporate governance (GCG) on transfer pricing; analyze the effect of tunneling incentive on transfer pricing, analyze the influence of intangible assets on transfer pricing and analyze the effect of profitability on transfer pricing. This type of research is exoplanet research. The population of this research is a multinational company in the consumption industry listed on the Indonesia Stock Exchange (IDX). Multiple linear analysis methods to look for regression equations. Based on the results of data analysis shows Good Cooporate Goverment (GCG) has a positive and significant effect on the company's decision to transfer pricing.  Tunneling Incentive (TNC) has a positive and significant effect on the company's decision to transfer pricing. Intangible Asset has no positive and insignificant effect on the company's decision to transfer pricing. Profitability has no positive effect on the company's decision to transfer pricing.
The Effects of Technical and Fundamental Factors on the Investment Decision and the Company Value in the Agricultural Sector Mamay Komarudin; Naufal Affandi
Quantitative Economics and Management Studies Vol. 1 No. 6 (2020)
Publisher : Yayasan Ahmar Cendekia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.qems201

Abstract

This study aims to analyze the influences of technical variables, which consist of the stock price and the Total Volume Activity (TVA), as well as fundamental variables, which consist of the Price Book Value (PBV) and the Debt to Equity Ratio (DER) on the investment decisions and the company value measured by using the PER of some companies of agricultural sector listed in the Indonesian Stock Exchange. Path analysis is used as the data analysis method. The research results show that one of the technical factors that significantly influences the investment decision and the company value is the stock price. Meanwhile, one of the fundamental factors that influences the investment decision and the company value is the PBV. The hypothesis testing showing that the stock price factor and the PBV factor have positive effects on the value of agricultural sector company is proven or accepted. On the other hand, the other variables, according to theorema trimming, are proved to be not includable in the path calculation if the path is proved to be insignificant, in this case the DER and the trading volume variable
TRAINING AND COUNSELING ON THE IMPORTANCE OF WORK SAFETY IN BBPLK SERANG CITY Mamay Komarudin; Wahyu Widodo; Irma Nurmala Dewi
International Journal of Engagement and Empowerment Vol. 1 No. 1 (2021): International Journal of Engagement and Empowerment
Publisher : Yayasan Education and Social Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53067/ije2.v1i1.21

Abstract

A  safe and healthy workplace is what every worker in the company would want.  Therefore,  it is vital that we lecturers from Bina Bangsa University feel called to hold counselling and training on  K3  to prospective workers in Serang City.    Counselling and training aim to reduce accidents due to work to improve the efficiency and productivity of work. Companies in Indonesia, in    general include common concern  about  K3  compared to  other countries. Indonesia  will be difficult to deal with the global market  with these conditions because  it  will  experience  inefficiencies in  labor  utilization  due to low work productivity.  The problems  outlined  earlier  are   attempted to  be  approached    using  pictures  and  props.   The counseling  and  training  on  K3 are expected to    reduce the risk  of   accidents  and  health problems  for prospective  workers  and  the  surrounding community.
Fundamental And Technical Factors Towards Investment Decisions And Company Value Moderated By Sales At Trading Companies In Indonesia Mamay Komarudin
International Journal of Science, Technology & Management Vol. 2 No. 1 (2021): January 2021
Publisher : International Journal of Science, Technology & Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46729/ijstm.v2i1.163

Abstract

The purpose of this study is a) to analyze the influence of fundamental factors, namely profit growth, ROE and DER on investment decisions and value; to analyze the influence of macro factors namely sectoral PDP, SBI and exchange rate and beta of stocks on investment decisions and company value; to analyze the influence of technical factors i.e. the previous share price and trading volume on investment desperedness and the value of the company; to analyze the effect of investment decisions on the company's value; to analyze sales as moderating the effect of investment decisions on the value of the company. Based on the results of data analysis and discussion, it can be concluded that 1) fundamental factors as measured by profit growth, ROE and DER affect investment decisions; 2) Macro variables, namely interest rates and sectoral GDP, have a significant effect on investment decisions. That means higher macro variables are causing increases and decreases in investment decisions. While inflation has no positive and significant effect; 3) Technical variables consist of the previous share price and the trading volume has no significant effect on investment decisions. That means the higher the previous share price and the volume of trades does not increase investment decisions; 5) Fundamental factors namely profit growth, ROE and DER affect the value of the company; 6) Macro variables namely interest rates and sectoral GDP and inflation have no significant effect on the value of the company; 7) Investment decisions affect the value of the company; 8) In sales is not proven to moderate the mover of investment decisions against the value of the company.
Free Cash Flow, Kinerja Keuangan dan Agency Cost Pada Perusahaan Perdagangan Yang Terdaftar Di Bursa Efek Indonesia Mamay Komarudin; Naufal Affandi
Sains: Jurnal Manajemen dan Bisnis Vol 13, No 1 (2020)
Publisher : FEB Universitas Sultan Ageng Tirtayasa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35448/jmb.v13i1.7545

Abstract

This study aims to analyze how the influence of free cash flow and agency cost on company performance in the trading sector on the Indonesia Stock Exchange. Another objective is to examine agency cost as a moderating variable of the effect of free cash flow on the performance of trading sector companies on the Indonesia Stock Exchange. The research is an explanatory research conducted on trading companies listed on the Indonesia Stock Exchange. The variables of this study include free cash flow and agency cost as the independent variable while the dependent variable is the company's performance which is proxied by the profitability ratio (ROA). The research population was 53 trade sector companies listed on the Indonesia Stock Exchange in 2013 to 2016. The sample selection was done by purposive sampling so that it was selected to be 25 companies. The data analysis tool uses Moderating Regression Analysis (MRA). Research has shown that free cash flow has a negative impact on agency cost. Free cash flow has no effect on company performance. Agency cost increases the effect of free cash flow on company performance
The Effects of Technical and Fundamental Factors on the Investment Decision and the Company Value in the Agricultural Sector Mamay Komarudin; Naufal Affandi
Quantitative Economics and Management Studies Vol. 1 No. 6 (2020)
Publisher : Yayasan Ahmar Cendekia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.qems201

Abstract

This study aims to analyze the influences of technical variables, which consist of the stock price and the Total Volume Activity (TVA), as well as fundamental variables, which consist of the Price Book Value (PBV) and the Debt to Equity Ratio (DER) on the investment decisions and the company value measured by using the PER of some companies of agricultural sector listed in the Indonesian Stock Exchange. Path analysis is used as the data analysis method. The research results show that one of the technical factors that significantly influences the investment decision and the company value is the stock price. Meanwhile, one of the fundamental factors that influences the investment decision and the company value is the PBV. The hypothesis testing showing that the stock price factor and the PBV factor have positive effects on the value of agricultural sector company is proven or accepted. On the other hand, the other variables, according to theorema trimming, are proved to be not includable in the path calculation if the path is proved to be insignificant, in this case the DER and the trading volume variable
ANALISIS PENJUALAN, FREE CASH FLOW DAN PROFITIBILITY SEKTOR SEMEN DI ERA PEMBANGUNAN INFRASTRUKTUR TRANSPORTASI DI INDONESIA Mamay Komarudin
Jurnal Bina Bangsa Ekonomika Vol. 14 No. 1 (2021): Jurnal Bina Bangsa Ekonomika (JBBE)
Publisher : LP2M Universitas Bina Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (465.943 KB) | DOI: 10.46306/jbbe.v14i1.72

Abstract

Di negara berkembang seperti Indonesia, permintaan produk semen akan selalu meningkat, sehingga industri di bidang produksi semen akan ikut berkembang. Tabel 1 menunjukkan pertumbuhan penjualan semen tahunan, yang meningkat dari 48 juta ton pada tahun 2016 menjadi 62 juta ton pada tahun 20120. Profitabilitas merupakan hasil akhir dari sejumlah kebijakan dan keputusan yang dilakukan oleh perusahaan. Cash Flow adalah aliran kas bebas atau lebih sering dikenal dengan free cash flow dapat diartikan aliran kas yang tersedia untuk dibagikan kepada para pemegang saham atau pemilik perusahaan, setelah perusahaan melakukan investasi pada fixed asset (aktiva tetap) dan working capital (modal kerja) yang diperlukan untuk kelangsungan usahanya. Metode yang digunakan adalah metode kuantitatif. PT. SI lebih stabil selama periode tersebut, menyebabkan ROI tak tergoyahkan menjadi 31,72% dan ROE menjadi 24,5% di tahun 2013. Hingga awal 2015, penjualan sedikit turun dan terjadi sedikit suntikan modal, sehingga ROI turun menjadi 23,42% dan ROE menjadi 16,49%.
FIRM VALUE, CAPITAL STRUCTURE, PROFITABILITY, FIRM CHARACTERISTIC AND DISPOSIBLE INCOME AS MODERATOR: AN EMPIRICAL INVESTIGATION OF RETAIL FIRMS IN INDONESIA Mamay Komarudin; Naufal Affandi
Inovbiz: Jurnal Inovasi Bisnis Vol 7, No 1 (2019)
Publisher : Politeknik Negeri Bengkalis

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (378.725 KB) | DOI: 10.35314/inovbiz.v7i1.943

Abstract

This study examined the effect of capital structure on firm value; firm characteristic on firm value with disposible income as moderator variable; the effect of profitability on firm value. The study was conducted in Indonesia Stock Exchange (IDX) with samples of retail  firms listed on the IDX in 2014 to 2016  as many as 21 retail  firms. The analysis methode used Moderated Regression Analysis (MRA), classical assumption test and t test. The results showed that the capital structure didn’t have a significant negative effect on firm value. Profitability had a significant positif effect on firm value. Firm characteristic didn’t have a significant negative effect on firm value with disposible income as a moderator. The conclusion of research indicated that capital structure and profitability had a significant effect  on firm value while firm characteristic with disposible income as moderator didn’t have significant effect on firm value