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Company Financial Performance Analysis With Financial Ratios, Economic Value Added (EVA), and Market Value Added (Study Case on Manufacturing Corporation Period 2008 -2012). Savitri, Yuni Ratna; T, Sutrisno
Jurnal Ilmiah Mahasiswa FEB Vol 2, No 2: Semester Genap 2013/2014
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Penelitian  ini  bertujuan  untuk  mengetahui kinerja  likuiditas,  profitabilitas,  pasar,  nilai  tambah,  dan  kinerja  keuangan  secara  keseluruhan dengan rasio keuangan, Economic Value Added  (EVA) dan Market Value Added  (MVA) pada perusahaan manufaktur untuk periode 2008-2012. Berdasarkan hasil analisis diperoleh kesimpulan bahwa (1). Dilihat dari  rasio  likuiditas jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah:  food and beverages; apparel and other textile products; plastics and glass products; metal and allied products; cables; automotive and allied products; dan pharmaceuticals.  Dilihat dari rasio profitabilitas jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah:  food and beverages; chemical and allied products; plastics and glass products; metal and allied products; cables; automotive and allied products; dan pharmaceutical. Dilihat dari rasio pasar jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah: food and beverages; apparel and other textile products; chemical and allied products; plastics and glass products; metal and allied products; cables; automotive and allied products; dan  pharmaceuticals. Dilihat dari nilai tambah jenis perusahaan manufaktur yang memiliki kinerja yang baik adalah:  food and beverages; chemical and allied products; plastics and glass products; metal and allied products; automotive and allied products; dan pharmaceuticals.(2). Dilihat dari rasio kinerja keuangan secara keseluruhan yang memiliki kinerja yang baik adalah:  food and beverages, automotive and allied products; metal and allied products; pharmaceuticals; plastics and glass products; chemical and allied products.Kata  kunci:  Kinerja Keuangan,  Rasio Keuangan,  Nilai Tambah Ekonomi,  Nilai Tambah Pasar.
The Influence of Profitability And Insider Ownership On Firms Value With The Debt Policy As Intervening Variable (Empiric Study On Public Company In Indonesia Stock Exchange Period 2009-2012) Wulandari, Risa; T, Sutrisno
Jurnal Ilmiah Mahasiswa FEB Vol 2, No 2: Semester Genap 2013/2014
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aims to determine the influence of profitability and insider ownership on firm value that mediated by debt policy (leverage). Data that used was secondary data of 82 public companies in Indonesia Stock Exchange (BEI) with 4 years period, since 2009 till 2012. Using mediated path model, this research tried to test the theory in line with research purpose. The instrument of the analysis used was Smart PLS programs. Result finding indicated profitability positively and significantly on firm value and debt policy. Insider ownership negative and not significantly to debt policy but positively and significantly to firm value, meanwhile debt policy has negative and significantly effect to firm value. Finally, simultaneously debt policy couldn’t successfully mediate profitability and insider ownership on firm value. This research finding also oppose against with static tradeoff theory. Static trade off theory focuses discussion at trade off between cost of debt and benefit of debt (Huang and Ritter, 2004). Static trade off assumed that capital structure of company is determined by considered tax-deductible benefit when increasing level of debt and increasing level of agency cost in other side. Keywords: profitability, insider ownerships, debt policy (leverage), firm value  
FAKTOR-FAKTOR YANG MEMPENGARUHI PENGUNGKAPAN SUKARELA PELAPORAN KEUANGAN DAN KEBERLANJUTAN MELALUI INTERNET DAN IMPLIKASINYA TERHADAP ASIMETRI INFORMASI Arafi, Maulana Fajri Al; T, Sutrisno
Jurnal Ilmiah Mahasiswa FEB Vol 2, No 2: Semester Genap 2013/2014
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This  research  aims  to  find  empirical  evidence  about  the  effect  of  firm  size, profitability, leverage and non-management share ownership portion to internet financial and sustainability reporting, as well as to find empirical evidence about the effect of internet financial and sustainability reporting to information asymmetry. The population  in  this research are 446  Indonesian companies  listed  in  Indonesian Stock Exchange (IDX) in period 2012. This research selected 120 companies by using non-probability random sampling (purposive sampling). These research data were analyzed using multiple regression analysis and simple regression analysis. The results indicated that firm size and profitability had influence on internet financial and sustainability reporting. The research also showed that internet financial and sustainability reporting could reduce information asymmetry.   Keywords:  Internet Financial and Sustainability Reporting, Firm Size, Profitability, Leverage, Non-management  Share-ownership  portion, Information Asymmetry.
PENGARUH KINERJA AKUNTANSI TERHADAP RETURN SAHAM PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI TAHUN 2010-2014 Handoko, Fery Handoko; T, Sutrisno
Jurnal Ilmiah Mahasiswa FEB Vol 3, No 2: Semester Genap 2014/2015
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aimed to examine the effect of accounting performance indicators represented by the variable earnings per share, price to book value, and price earnings ratio on stock returns. The sample was a manufacturing company in the list of the Stock Exchange during January 2010 to December 2014, a company that has always consistently deliver its financial statements on a regular basis and have the completeness of financial data in accordance with what is needed in this study, which is consistent company has an equity value positive during the period of observation that in 2010 through 2014, and the company always consistently make a profit on that observation period of 2010 through 2014. Based on these criteria  the sample used  in  this  study  is  62  companies.  Methods  of  research conducted with the method of multiple linear regression, t-test and F test results showed a partial earnings per share significant effect on stock returns, while price to book value, and price earnings ratio not significant effect on return stock. Simultaneously, earnings per share, price to book value, and price earnings ratio have a significant effect on stock returns   Keywords: Stock return, earning per share (EPS), price to book value (PBV), price earning ratio (PER)
PENGARUH PBV, EPS, DAN DER TERHADAP HARGA SAHAM DENGAN KEBIJAKAN DEVIDEN SEBAGAI VARIABEL INTERVENING : STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI TAHUN 2009-2013 DEVI, IRENE NATHASIA; T, SUTRISNO
Jurnal Ilmiah Mahasiswa FEB Vol 4, No 1: Semester Ganjil 2015/2016
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The purpose of this research is to examine the effect of Price Book Value (PBV), Earning Per Share (EPS), and  Debt to Equity Ratio (DER) either directly or indirectly on stock price with used dividend policy as an intervening variable. Dividend Payout Ratio (DPR) used as a proxy of dividend policy. The sample used in this study consisted of 32 manufacturing companies listed on the Indonesia Stock Exchange from 2009 to 2013, 160 the number of observations. Sampling was done by purposive sampling methode. This research used is path analysis to quantify the direct and indirect effect of each variable on stock prices. The result of the analysis show that have positive to dividend policy, but EPS and DER have negative to dividend policy. Dividend policy have positive to stock price. PBV and EPS have positive to stock price, DER have negative to dividend policy. Based on result indirect analysis show that have PBV, EPS, and DER to stock price can mediated using dividend policy.   Keywords:    Debt to Equity Ratio (DER), Dividend Payout Ratio (DPR), Earning Per Share (EPS), Price Book Value (PBV), and Stock Price.
PENGARUH STRATEGI BISNIS PERUSAHAAN DAN KOMPETISI PASAR EKUITAS TERHADAP RISIKO CRASH HARGA SAHAM DENGAN OVERVALUED EQUITIES SEBAGAI VARIABEL MEDIASI Arianwuri, Fidya Gumilang; T, Sutrisno; Prihatiningtyas, Yeney Widya
Jurnal Reviu Akuntansi dan Keuangan Vol 7, No 1: Jurnal Reviu Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.036 KB) | DOI: 10.22219/jrak.v7i1.10

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Business Strategy, Equity Market Competition, Overvalued Equities, and Stock Price CrashRisk. The purpose of this research is to examine the influence of prospector business strategyand defender business strategy, equity market competition, and indirect effect of prospectorbusiness strategy on stock price crash risk through ovevalued equities. The sample of thisresearch are 192 companies that are divided into 96 prospector business strategy and 96 defender business strategy during 2010-2016. This study uses a secondary data from financialreport, number of investor, and stock price information. Which is obtained from the officialwebsite of IDX, KSEI and yahoo finance. The results of this study indicate that the prospectorbusiness strategy effect on the stock price crash risk, while the defender business strategy doesnot affect on stock price crash risk. The equity market competition is proven to reduce the stockprice crash risk. The existence of a prospector business strategy will tend to overvalued equitieswhich in turn, increase stock price crash risk.Ke ywords: defender business strategy, equity market competition, overvalued equities, prospector business strategy, stock price crash risk
PENGARUH BUDAYA ORGANISASI, KOMITMEN ORGANISASI, GAYA KEPEMIMPINAN, DAN KOMPETENSI TERHADAP KINERJA PEMERINTAHAN DAERAH (STUDI EMPIRIS PADA KABUPATEN BANGKALAN) Mufarrohah, -; T, Sutrisno; Purnomosidhi, Bambang
InFestasi Vol 9, No 2 (2013): DESEMBER
Publisher : University of Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v9i2.564

Abstract

This research aims to test and prove empirically the effect of organizational culture, organizational commitment, leadership style, and competence on the local government performance. The data collection in this research is conducted by survey method. Sample of this research is the functionary staffs of echelon II and echelon III in Local Government Bangkalan. Techniques of data analysis employs Structural Equation Modeling (SEM) and analysis tool utilizes Partial Least Square (PLS).  The results of this research indicate that there is a positive influence of organizational culture, leadership style, and the competence on the local government performance of Bangkalan. When the organizational culture, leadership style and competence is high, the performance of local government is also high. Organizational commitment has a negative influence and significant on the performance of local government Bangkalan.
PENGARUH KEPEMILIKAN KELUARGA TERHADAP KEBIJAKAN DIVIDEN DENGAN BOARD OF INDEPENDENCE SEBAGAI VARIABEL MODERASI ., Poniman; T, Sutrisno; Ghofar, Abdul
MIX: JURNAL ILMIAH MANAJEMEN Vol 8, No 3 (2018): MIX: Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (234.828 KB) | DOI: 10.22441/mix.2018.v8i3.010

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High concentration of family ownership in East Asia has led to agency conflicts between the majority and minority shareholders potentially affecting the company's dividend policy. This study aims to examine the effect of family ownership on dividend policy. This study also examined the role of board of independence as a moderator in strengthening the influence of family ownership on dividend policy. The result proves that family ownership negatively affects dividend policy but with the existence of board of independence, family ownership has positive effect on dividend policy. This study contributes to the theory of agency type II which discusses conflicts between majority shareholders by family and minority that can be eliminated by good corporate governance mechanisms
ANALISIS PENGARUH STRUKTUR KEPEMILIKAN TERHADAP PERUBAHAN PROFITABILITAS PERUSAHAAN PASCA PENAWARAN SAHAM PERDANA Nadin, Muhammad Audi De; T, Sutrisno
Jurnal Ilmiah Mahasiswa FEB Vol 3, No 2: Semester Genap 2014/2015
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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This research aimed at examining the difference in corporate profitability between pre- and post-initial public offering (IPO) and focused on the effect of ownership structure toward profitability change. Samples of this research were firms conducting IPO on Bursa Efek Indonesia (BEI) from 2009-2011, not financial firms nor banking firms, and providing  necessary information for this current research. Setting those criteria, 52 companies met the criteria to be taken as samples of this research. This research was conducted by means of comparing the average profitability of the firms for the period before and after the IPO and using multiple linear regression test. This research revealed the decline in post-issue firm profitability, which was one year before IPO and two years after IPO, measured by return on equity (ROE), return on asset (ROA), operating income to asset (OI/A) and, sales to asset (S/A). This research further found that the change of post-issue profitability was not associated with ownership structure. The portion of institutional ownership, public ownership, and existence of managerial ownership did not affect the change of post-issue firm profitability.  Keywords: Initial public offering, profitability, return on equity (ROE), return on  asset (ROA), operating income to asset (OI/A), sales to asset (S/A), ownership structure, institutional ownership, public ownership, managerial ownership
INTERNAL CONTROL ROLE IN RELATIONSHIP BETWEEN EMPLOYEE AND PUBLIC SECTOR ORGANIZATIONS Andriono, Rian; T, Sutrisno; Nurkholis, Nurkholis
Jurnal Aplikasi Manajemen Vol 16, No 4 (2018)
Publisher : Jurusan Manajemen Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (180.36 KB) | DOI: 10.21776/ub.jam.2018.016.04.20

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This study aims to obtain empirical evidence of the impact of employee’s Public Service Motivation (PSM) and Organizational Commitment on the Organizational Performance through Internal Control System (ICS) as an intervening variable. The study was conducted on all State Civil Employees at the State Treasury Services Office in Bali Province through a survey on 98 respondents and was analyzed with SEM-PLS. The results show that Organizational Performance improvement in order to achieve performance contract’s designated targets done by increasing employee’s motivation and commitment. PSM and Organizational Commitment play an important role in goals achievement, and without both variables, the performance management will not lead to higher public services quality. Public sector organizations can make ICS as a tool to controls over employee’s motivation and commitment. The integrated ICS within the organizational unit structure is not only able to controls the overall business process but also on the employee’s daily work life.