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FAMILY CONTROL, INSTITUTIONAL OWNERSHIP, AND DIVIDEND POLICY OF MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE Madyan, Muhammad; Meidiaswati, Harlina; Sasikirono, Nugroho; Herlambang, Muhammad Hadyan
Jurnal Reviu Akuntansi dan Keuangan Vol 9, No 1: Jurnal Reviu Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1020.564 KB) | DOI: 10.22219/jrak.v9i1.8293

Abstract

This study is conducted to examine the effect of family share ownership on the dividend policy of manufacturing companies in the Indonesia Stock Exchange (IDX). In this study, we also examine the moderating effect of institutional ownership on the relationship between family ownership and dividend policy. The number of observations 137 firm-years, consisting of family companies in the manufacturing sector listed on the IDX in the period 2013-2016. The test results show that family ownership has a positive effect on the dividend payout ratio. Research also shows that institutional ownership weakens the relationship between family ownership and dividend payout ratio.
Dampak Bank Specific Variables Pada Rasio Non Performing Loan Dalam Sistem Perbankan Indonesia Carolina, Anita; Madyan, Muhammad
Jurnal Manajemen Teori dan Terapan | Journal of Theory and Applied Management Vol 8, No 3 (2015)
Publisher : Department of Management, Faculty Economics & Business, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (378.182 KB) | DOI: 10.20473/jmtt.v8i3.2732

Abstract

Conventional banks are vulnerable to non-performing loans, because the credit is the main source income of a bank. Credit risk may still occur, even though the bank's management has made efforts based credit rating 5C. The purpose of this study was to determine how much influence the variable CAR, LAR, NIM, and ROE against Non-Performing Loans (NPL) in the banking companies listed on BEI. The sampling technique used is purposive sampling with criteria: (1) a conventional commercial bank listed on the BEI 2009-2013 period, (2) the bank that issued the annual financial statements in a row in the period from 2009 to 2013, and (3) bank which has a data completeness NPL, CAR, LAR, NIM, and ROE in the period 2009-2013. Data obtained from the annual report of each bank in 2009-2013. There are a total sample of 29 banks. The analysis technique used is multiple linear regression and hypothesis testing using t-statistic to test the partial regression coefficient and F-statistic to test the effect simultaneously with a significance level of 0.05. Before being tested by multiple linear regression, first performed classical assumption of normality test data. The results showed that there were no deviations from the classical assumption test. This indicates that the available data is normal or eligible to be used as a multiple linear regression model. From the analysis, CAR and ROE have significant negative effect on the NPL and LAR have not significant negative effect on the NPL, while variable NIM have significant positive effect on the NPL.
Perubahan Kepemilikan Manajerial dan Perubahan Nilai Perusahaan Madyan, Muhammad; Pratiska, Riska Gita; Kholidah, Himmatul
Jurnal Manajemen dan Bisnis Indonesia Vol 6 No 1 (2018): Jurnal Manajemen Bisnis Indonesia - Edisi Oktober 2018
Publisher : Forum Manajemen Indonesia (FMI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (25.398 KB) | DOI: 10.31843/jmbi.v6i1.186

Abstract

Managerial ownership is an important element in reducing the agency conflict that occurs in a firm. The ownership can provide manager’s incentives to perform optimally in achieving the firm’s goal to improve firm value. Managers in each firm will adjust their ownership to respond firm value. That adjustment can create a changes in managerial ownership. This study aims to examine the relation between changes in managerial ownership to changes in firm value that used a non-financial firms from 2009-2011 as a sample. The results show that  negative  changes  on  managerial  ownership  have  a  negative  and  significant  to changes in firm value, while positive changes on managerial ownership have a positive and not significant to changes in firm value.   Keywords: Managerial ownership, changes in managerial ownership, and changes in firm value
FIRM SPECIFIC FACTORS DAN PROFITABILITAS SUB-SEKTOR PROPERTI DI INDONESIA Madyan, Muhammad; Lestyarini, Putri Yanti; Firdausi, Novian Abdi
Jurnal Manajemen Teori dan Terapan | Journal of Theory and Applied Management Vol 12, No 2 (2019)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v12i2.14764

Abstract

This study analyzes effects of firm specific factors to the profitability of property and real estate sub-sector which listed in BEI in time period of 2010-2015. Firm specific factors are measured with liquidity, financial leverage, firm size, and firm growth as generally used determinants. This reasearch used purposive sampling method at 33 firms which fulfill the research criterions, which are firms listed consistently in BEI?s property and real estate sub-sector, also publishing financial statements routinely during research period. Analysis proceeded by using multiple linear regression with study results show that liquidity and financial leverage have negative effects to profitability, while firm size and firm growth have positive effects to profitability.
KETERKAITAN ANTAR BURSA EFEK DUNIA (STUDI KASUS PADA BURSA EFEK NEGARA MAJU DAN NEGARA BERKEMBANG) Madyan, Muhammad; Adila, Haka; Firdausi, Novian Abdi
Jurnal Manajemen Teori dan Terapan | Journal of Theory and Applied Management Vol 12, No 1 (2019)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v12i1.14115

Abstract

This research analyzes the correlation between stock markets worldwide. Developing countries stock exchanges are represented by China and Indonesia, whereas developed countries stock exchanges are represented by Germany, Japan, Australia, Singapore, and the United States. Using stock?s daily close prices as data, then assessed with Vector Error Correction Model and Granger Causality. Analyzed indexes are Shanghai Stock Exchange Composite (SHCOMP), Indeks Harga Saham Gabungan (IHSG), Dow Jones Industrial Average (DJIA), Nikkei225 (NKY), Deutscher Aktien Index (DAX), All Ordinaries Index (AOI), and Strait Times Index (STI). Stock data grouped into two periods, the first period is the Asian Financial Crisis in 1 January 1998-31 December 2003, while second period is the Subprime Mortgage crisis in 1 January 2008-31 December 2013. Research results show correlations between analyzed stock indexes in both long run and short run relationship in the firstperiod as well asthe second period, however the correlation between Singapore?s and Indonesia?s stock exchange in second period is unproven.
REAKSI PASAR SAHAM YANG TERDAFTAR DALAM JAKARTA ISLAMIC INDEX (JII) TERHADAP PENGUMUMAN PENETAPAN GUBERNUR DKI JAKARTA TAHUN 2017 Sukmaningrum, Puji Sucia; Madyan, Muhammad; Hendratmi, Achsania
Jurnal Ekonomi dan Bisnis Islam (JEBIS) Vol 5, No 1 (2019): JANUARI-JUNI 2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (911.899 KB) | DOI: 10.20473/jebis.v5i1.10087

Abstract

The purpose of this research is to analyze the reaction of investors before and after the announcement of the determination of the Governor of DKI Jakarta in 2017 against abnormal return and trading volume of activity. These studies use quantitative methods of event study. Estimation period is 60 days and research period is 10 days before and 10 days after the announcement. the sample of this research is 30 stocks listed on the Jakarta Islamic Index (JII). The results showed no significant difference against AAR and ATVA before and after the announcement. Investor it is possible already to react before the official announcement of the Election Commission (KPU). Investors could do predictions the election results of the Survey or the quick count.Keywords: Market Reaction, Event Study, Abnormal Return, Trading Volume Activity, Islamic Capital Market.   
FAKTOR PENENTU RISIKO SAHAM PERBANKAN DI INDONESIA (STUDI PADA INDUSTRI PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA) Madyan, Muhammad
Ekonomi Bisnis Volume 23, No. 2, Oktober 2018
Publisher : Fakultas Ekonomi Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (129.035 KB)

Abstract

Penelitian ini bertujuan untuk menganalisis dan menguji pengaruh portofolio kredit, diversifikasi pendapatan, total asset, non performing loan, foreign ownership, short term loan, dan non-interest income terhadap risiko saham pada industri perbankan di Indonesia. Data yang digunakan adalah laporan keuangan 25 perbankan go public dalam jangka waktu 2009-2013. Risiko saham diukur menggunakan standar deviasi dari return saham. Hasil penelitian ini menunjukkan bahwa variabel non-interest income, total asset, non-performing loan, dan diversifikasi pendapatan berpengaruh signifikan terhadap risiko saham perbankan. Sedangkan variabel short-term loan, foreign ownership, dan portofolio kredit berpengaruh negatif tetapi tidak signifikan terhadap risiko saham perbankan
DETERMINAN SIKLUS KONVERSI KAS INDUSTRI MANUFAKTUR DI INDONESIA (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA) Madyan, Muhammad
Ekonomi Bisnis Volume 24, No. 1, Mei 2019
Publisher : Fakultas Ekonomi Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (124.976 KB)

Abstract

Penelitian ini bertujuan untuk menguji dan menganalisis determinan siklus konversi kas pada industri manufaktur di Indonesia. Variabel determinan siklus konversi kas yang digunakan pada penelitian ini adalah ukuran perusahaan, pertumbuhan penjualan, profitabilitas, debt ratio, quick ratio dan operating cash flow. Data yang digunakan adalah laporan keuangan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dan memenuhi kelengkapan studi sejumlah 128 perusahaan dalam jangka waktu 2007-2011. Hasil penelitian ini menunjukkan bahwa profitabilitas, operating cash flow, ukuran perusahaan berpengaruh signifikan pada siklus konversi kas. Sedangkan variabel pertumbuhan penjualan, debt ratio, dan quick ratio berpengaruh tidak signifikan terhadap siklus konversi kas
FAKTOR INTERNAL, KEPEMILIKAN ASING DAN RISIKO SAHAM PERBANKAN DI INDONESIA Madyan, Muhammad; Wahyuningati, Astriani; Aji, Gagas Gayuh; Firdausi, Novian Abdi
Ekonomi Bisnis Volume 24, No. 2, Oktober 2019
Publisher : Fakultas Ekonomi Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (135.721 KB)

Abstract

Sebagai sektor yang telah mature, perbankan telah membuat banyak perubahan dramatis dalam mengurangi berbagai risiko manajemen dekade terakhir. Namun tetap saja perbankan masih rentan, seperti terhadap risiko saham. Faktor penentu risiko saham perbankan sangat bervariasi sehingga diperlukan adanya pengembangan penelitian. Menggunakan data komprehensif yang mencakup 25 bank go public di Indonesia selama periode 2009-2013, penelitian ini menyelidiki dampak faktor internal dan kepemilikan asing terhadap risiko saham perbankan. Dengan menggunakan metode pengujian regresi linear berganda, penelitian ini menemukan bukti kuat bahwa faktor internal seperti non-interest income, total asset, non-performing loan, dan diversifikasi pendapatan berpengaruh signifikan terhadap risiko saham perbankan. Namun untuk faktor internal lain, yaitu short-term loan dan portofolio kredit meskipun berpengaruh negatif, tetapi tidak signifikan terhadap risiko saham perbankan di Indonesia. foreign ownership, sebagai faktor non internal, juga tidak terdukung didalam hubungannya dengan risiko saham.