Media Riset Bisnis & Manajemen (E-Journal)
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KEINFORMATIFAN HARGA SAHAM DALAM KAITANNYA DENGAN EFISIENSI INVESTASI
No full textAccording to the Efficient Market Hypothesis, greater firm specific stock price variation reflects higher intensity firm specific information capitalization in stock price. In this study we propose that higher firm specific price variation maybe an indicator of greater functional-form market efficiency. We regress PER (Price to Earning Ratio) as a proxy of efficiency of investment as a function of Y (Firm Specific Stock Price Variation) as a proxy of firm specific information capitalization in stock price. We provide new evidence that Indonesian Capital Market does not efficient yet because the result at 2003 and 2004 does not consistent. With coefficient determination (IV) only 25.27% show that we should include another explanatory variable to explain about investment efficiencyKeywords: Firm-Specific Stock Price Variation, Investment Efficiency, Efficient Market Hypothesi
PERAN MARKETING COMPETENCY DALAM MENINGKATKAN KEUNGGULAN BERSAING
No full textFunctional area competencies are considered as sources of competitive advantage (Porter, 1994; Heene & Stanches, 1997; Cravens, 1996; Vickery el AI, 1993; Vickery et. Al, 1994), and marketing competency is one of them. Marketing competency construct is defined as the sum of the performed on 31 competitive items, weighted by importance and extent of marketing responsibility (Vickery et al., 1994).This study examines a model of relationships between marketing competency and business performance outcomes such as market share and market share growth. The questioners were sent to marketing managers from manufacture organizations at Jakarta. The instrument from Vickery et al. (1994), was used in this study. Regression was used to analysis this data. The result showed that marketing competency is related to business performance outcomes (in this case: market share and market share growth). So, It suggests that marketing competency is a source competitive advantage.Keywords : Marketing Competency, Business Performance Outcomes (market share and market share growth), competitive Advantage
DETEKSI PERBANDINGAN EKSES VOLATILITAS HARGA SERTA REAKSI EARNING TERHADAP RETURN & HARGA SAHAM SEKTOR LQ45
No full textThis paper examines the validity of Efficient Market Hypothesis (EMH) valuation model through stock price volatility and earning volatility excesses. Our research also analyzes stock price reaction to earning. Based on existence of stock price mispricing; there is no investor who will obtain abnormal return if we follow EMH. We find JS is not efficient. Over the observation periods; investors have more concerned with stock market volatility than earning quality. Specifically they have remained to concern about earning quality from LQ 45 companies. Our study provides stock price prediction model that used by investors for decision to buy and to sell. The base for decision of investors is earning. When earning is positive; investors should hold that stock. Otherwise they should release if their earning of stock are negative.Keywords: stock price and earning volatility excesses; mispricing; efficient market,. abnormal return
PENGARUH GAYA KEPEMIMPINAN TERHADAP KEPUASAN KERJA KARYAWAN
No full textThe general objective of this research is to test how the influence of leadership style to job satisfaction. And to find the dominant leadership style in international Bank. To obtain this data ,Questiamains is used and spreading them to 54 respondent which are employees of International Bank. The method to analyze data is used Single Regression Analysis and Anova with Post Hoc Pairwise Multiple Comparisons. This research indicates that there is a relationship between leadership style and Job satisfaction. And the dominant leadership style in international Bank is task-oriented leadership style.Keywords: Leadership Style, Job Satisfactio
ANALISIS EFISIENSI OPERASIONAL PERUSAHAAN FARMASI GO-PUBLIC SEBELUM DAN SESUDAH KRISIS EKONOMI DI JAKARTA
No full textEfficiency is an important measurement for a company\u27s performance. In this, we\u27re fully aware of the importance of efficiency towards company\u27s lifecyde, study and to describe it in analytical way, by taking 8 companies in pharmaceutical industry which are listed in Jakarta Stock Exchange. The analysis is focused on comparing the companies\u27 efficiency before and after economic crisis hit Indonesia in 1997/1998. The data were taken from Capital Market Directory of 1996 and 2000 which related to operational and production.Using DEA method, the result shows that there are 2 efficient companies both in the year of 1996 and the year of 2000. This research summarized that there are 4 companies which increased their efficiency level, 3 companies which decreased its efficiency level, and one stagnant.Keywords : Efficiency, operational, performanc