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Novi Swandari Budiarso
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Riset Akuntansi dan Manajemen Pragmatis
Published by Yayasan Widyantara Nawasena Raharja
ISSN : 30315980     EISSN : 30316316     DOI : https://doi.org/10.58784/ramp
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Riset Akuntansi dan Manajemen Pragmatis is a double peer-reviewed journal published by the Yayasan Widyantara Nawasena Raharja. Riset Akuntansi dan Manajemen Pragmatis will publish the articles bi-annually. The article submitted to Riset Akuntansi dan Manajemen Pragmatis is written in Indonesian and it is not under consideration or published by other publishers.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 10 Documents
 1 
Kinerja dan perbandingan pengembalian pasar di Asia Elisabeth Marjem Duwith; Susi Aloo
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 1 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.74

Abstract

At the beginning of 2023, economic conditions due to global issues will still significantly influence world markets. This study aims to compare the market return performance in Asia, namely Indonesia, South Korea, Japan, China, India, Taiwan, Vietnam, Malaysia, the Philippines, Thailand, Singapore, and Hong Kong. Evidence suggests that South Korea and Taiwan tend to have higher market returns than other Asian countries. Therefore, the risk-return tradeoff conditions in South Korea and Taiwan tend to be more optimal. Other findings also show that market returns for countries that are members of ASEAN-5 and India tend to be below the median of other Asian countries. Throughout the observation period, the Hong Kong market tends to be more risky while the Malaysian market tends to be less risky. Specifically, the findings show that markets in Indonesia, China, India, Vietnam, the Philippines, Singapore, and Hong Kong are not significantly different from each other or from other Asian markets.
Hubungan harga saham CPO dengan nilai tukar IDR selama fluktuasi inflasi Febby Septiana; Alditha Cristhmas Putri Daniella
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 1 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.75

Abstract

Several macroeconomic indicators in Indonesia, such as inflation and the exchange rate, tend to be more controlled from the end of 2022 to early 2023. However, during this period the price of CPO shares on the capital market tends to be more fluctuate. This study aims to examine the correlation of CPO share prices with exchange rates during inflation fluctuations, especially from 1 December 2022 to 30 April 2023. This study finds that the highest and most stable market price of CPO shares was in February 2023. The finding also indicates that the price movement pattern CPO stock market is inconsistent with changes in the rate of inflation. Apart from that, the finding also shows a tendency for a moderate relationship between the market price of CPO shares and the exchange rate. Another implication is that the increase in the exchange rate (depreciation of the IDR over USD) will be accompanied by a decrease in the market price of CPO shares.
Kinerja tingkat pengembalian saham batu bara dalam isu krisis energi Meilan Poae; Theresia Maria Manangka
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 1 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.76

Abstract

The condition of the Indonesian capital market at the beginning of 2023 is filled with the issue of the energy crisis. This condition began with the phenomenon of a decline in the world coal index which was accompanied by a downward trend in stock market prices. This study aims to examine the return performance of coal issuers in the energy crisis issue in the period January to April 2023. This study finds that the return from coal stocks is highest in March 2023, but overall performance is still not optimal. This is supported by findings that show that returns inter-months are not significantly different. This study also finds that returns and the world coal index tend to have an insignificant and small relationship. Apart from that, the correlation coefficient also shows a positive value, indicating that an increase in the world coal index will be followed by an increase in returns.
Dampak kenaikan suku bunga AS dan indeks pasar di Indonesia Adinda Adelia Taha; Agritia Kartini Bento
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 1 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.77

Abstract

In early 2023, the interest rate policies in the US become an important issue in the Indonesian capital market. This study aims to analyze the impact of US interest rates policy on market indices in Indonesia with an observation period from 1 January 2023 to 30 April 2023. This study finds that all market indices including the composite stock price index in Indonesia have a weak relationship with the interest rate policy of US. Other findings show that all market indices in Indonesia and interest rate policies in the US are insignificantly correlated. Those findings imply that interest rate policy in the US did not have an impact on the capital market in Indonesia.
Apakah investor berpeluang mengalahkan pasar Indonesia? Novi Swandari Budiarso; Winston Pontoh
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 1 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.78

Abstract

Since 2020, the capital market in Indonesia has been filled with information about changes in global conditions which have greatly influenced economic conditions. This study aims to estimate market efficiency (in weak form) using time series data from 1 January 2020 to 15 December 2023. The findings show that market conditions throughout the observation period were inefficient in weak form. Apart from that, the findings also show that the risk-return tradeoff of the estimated market index in Indonesia tends to improve. However, the movement pattern of the estimated market index is also predicted to remain in an inefficient condition in a weak form. These findings imply that investors tend to have the opportunity to beat the market in the next 150 days with the aim of obtaining abnormal returns.
Analisis fluktuasi harga saham “Unusual Market Activity” Theresia Lontokan; Farras Nashirah Mokoagow
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 2 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.80

Abstract

Information is one of the crucial factors in the capital market. This condition tends to be followed by stock price patterns that can experience increases or decreases in the capital market. In early 2023, several issuers obtained UMA status because they were suspected of having unusual share price movements. This study uses 24 issuers that are in conditions of unusual market activity (UMA) as samples. The observation period is January to February 2023 or the period for announcing the UMA status of the issuers being observed. The findings of this study show that the majority of issuers have unusual stock price movement patterns at the 90%, 95%, and 99% confidence levels. However, this study also found that some stock market price patterns tend to be within the confidence range so they tend to be called normal.
Analisis kinerja pengembalian saham perbankan di Indonesia Florensi Ekaristi Mea; Olivia Ribka Garus
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 2 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.81

Abstract

In early March 2023, banking liquidation in the US will become an important issue in world capital markets. This study aims to analyze risk-return performance throughout the issue period. This study uses 45 issuers registered in the banking sector. The observation period was carried out from 7 February 2023 to 6 April 2023 with cut-off points of 7 March 2023 and 8 March 2023. The findings of this study show that the performance of stock returns in the period before the liquidation issue tended to be better than in the period after the issue. In the period following the issue of banking liquidation in the US, average stock returns were lower but accompanied by high market risk. This indicates that an increase in risk tends to be accompanied by a decrease in stock returns.
Pencabutan PPKM dan risk-return industri pariwisata Felix Runtu; Clarissa Rengkung
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 2 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.82

Abstract

On December 30, 2022, the Indonesian Government officially lifted the Implementation of Restrictions on Community Activities (or PPKM). This study aims to analyze the risk-return trade-off and growth of stocks in the tourism industry. The sample used was 42 stocks in the tourism business sector throughout the period 30 December 2022 to 28 April 2023 or the period after the revocation of PPKM. The findings show that 32 stocks had not achieved optimal risk-return trade-off and growth throughout the observation period. However, this study also finds that 4 stocks had a better risk-return trade-off and 5 stocks had positive growth. These findings imply that the repeal of PPKM tends to have a positive impact on tourism industry shares even though not all of them have achieved optimal performance due to the impact of the COVID-19 pandemic.
Kinerja return teknologi dan suku bunga I Made Vareldya Indra Wardahana; Marvelino Alesandro Tiranda
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 2 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.84

Abstract

Changes in interest rates in Indonesia tend to produce certain phenomena in capital market conditions. Especially in the technology sector, share prices tend to have a decreasing pattern as interest rates increase. This study takes the period from 24 November 2022 to 16 February 2023 or the period where there was an increase in interest rates. The findings show that technology sector returns have a weak and unidirectional relationship with interest rates, although it is not significant. This implies that returns from the technology sector tend to increase as interest rates increase.
Dampak inflasi terhadap indeks sektoral di Indonesia Paquita Glorya
Riset Akuntansi dan Manajemen Pragmatis Vol. 1 No. 2 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.85

Abstract

At the beginning of 2023, the inflation in Indonesia tends to increase in February and tends to decrease from March to April. Based on the phenomenon, this study aims to determine the relationship between changes in the inflation rate and returns from market indices. This study conducted observations from January 2 to April 28 2023 with a sample of indices in the capital market, namely IDXBASIC, IDXCYCLIC, IDXENERGY, IDXFINANCE, IDXHEALTH, IDXINDUST, IDXINFRA, IDXNONCYC, IDXPROPERT, IDXTECHNO, and IDXTRANS. The analysis results show that IDXINDUST, IDXNONCYC, and IDXTRANS have positive average market returns in the range from January to April 2023. At the lowest point of inflation in April 2023, except for IDXFINANCE which is zero, the average market returns from IDXHEALTH, IDXINDUST, IDXINFRA, IDXPROPERT, and IDXTRANS tend to provide positive performance. The findings of this study also imply that the inflation rate from January to April 2023 does not have a significant relationship with market returns in Indonesia.

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