85 research outputs found
Merger, Akuisisi, dan Kinerja Perusahaan (Studi atas Perusahaan Manufaktur Yang Terdaftar di BEI)
Get PDFThe purpose of this study was to determine whether the performance of manufacturing companies with proxy ROA, ROE, GPM, OPM, NPM and DER in Indonesia for the better after doing mergers and acquisitions. The data used are the financial statements of listed companies in Indonesia Stock Exchange (BEI) for five years, ie 2002-2006. The method
used to test the hypothesis Wilcoxon's Signed Test. Statistical test results showed no significant differences in the level of performance of manufacturing firms for two years before and after the holding of mergers and acquisitions.
Key words: Mergers and acquisitions, performance, manufacturing company
PENGARUH DIMENSI EKUITAS MEREK TERHADAP NIAT MEMBELI
No full textThe objective of this study is to examine; (1) the simultaneous effects of brand awareness, advertising awareness, brand association and perceived quality on the intent to buy; (2) the partial effect of brand awareness, advertising awareness, brand association and perceived quality on the intent to buy; (3) is brand association a dominant variable that effect on the intent to buy. Survey was conducted to collect data from partisipants. The research used multiple linier regression to analyze data.The results show that simultaneously, brand awareness, advertising awareness, brand association and perceived quality have a significant effect on the intent to buy. The results also indicate that partially, brand association has a significat effect on the intent to buy. Nevertheless, brand awareness, advertising awareness and perceived quality have not significant effect on the intent to buy.</jats:p
Determinan Faktor Fundamental Terhadap Return Saham (Studi pada Perusahaan yang Masuk ILQ 45 di Bursa Efek Indonesia)
Get PDFThis reaseach analyzes, (1) fundamental factor influences Price Earning Ratio, Debt to Equity Ratio, Return on Equity, and Book Value simultanteously and partially to return stock on corporate incoming Index liquid 45 (ILQ 45) at Indonesian Stock Exchange (BEI), (2) to identify variable which that influential dominant to return stock on corporate incoming ILQ 45 at IndonesianStock Exchange (BEI). In this reasech, specialed sample as much 17 incoming firms in ILQ to periode 2004-2008 one accomplishes criterions as sample. Findingon observational it, fundamental factors Price Earning Ratio, Debt to Equity ratio, Return on Equity, and Book Value declare for that simultant avaliable influence that significant to return stock, in t test (partial) fundamental factor Price Earning Ratio and Return on Equity partially have significant influence to return stock, and variable Price Earning Ratio (PER) having for dominant to return stoct on corporate incoming deep ILQ 45 of Indonesian Stock Exchange (BEI)
PENGARUH DIMENSI EKUITAS MEREK TERHADAP MEREK : STUDI EMPIRIS
Get PDFPenelitian ini memiliki tujuan untuk mengetahui: (1) pengaruh secara
serempak antara dimensi pembentuk ekuitas merek seperti:: brand
awareness/kesadaran merek(X1), advertising awareness/kesadaran iklan (X2),
brand association/asosiasi merek (X3), dan perceived quality/ kesan kualitas (X4)
terhadap niat membeli (Y) pada merek sepeda motor merek “Honda, (2) pengaruh
secara parsial antara variabel-variabel pembentuk ekuitas merek seperti: brand
awareness/kesadaran merek(X1), advertising awareness/kesadaran iklan (X2),
brand association/asosiasi merek (X3), dan perceived quality/ kesan kualitas (X4)
terhadap niat membeli (Y) pada merek sepeda motor merek “Honda”, (3) brand
association/asosiasi merek merupakan variabel yang dominan terhadap niat
membeli pada merek sepeda motor merek “Honda”. Jenis penelitian yang
digunakan dalam penelitian ini adalah penelitian survey.
Hasil penelitian menunjukan bahwa dimensi pembentuk ekuitas merek
sepeda motor merek “Honda” secara bersamaan mempengaruhi niat membeli.
Secara parsial, hasil uji regresi linier berganda memperlihatkan bahwa: (1) brand
awareness (X1) tidak mempunyai pengaruh secara signifikan terhadap niat
membeli (2) advertising awreness (X2) tidak mempunyai pengaruh secara
signifikan terhadap niat membeli. (3) brand association (X3) mempunyai
pengaruh secara signifikan terhadap niat membeli. (4) perceived quality (X4) tidak
mempunyai pengaruh secara signifikan terhadap niat membeli. Selanjutnya
dengan koefisien � (Beta Coefficient) diperoleh hasil bahwa brand association
merupakan variabel yang dominan dari variabel-variabel pembentuk ekuitas
merek sepeda motor merek “Honda” terhadap niat membeli.
Kata kunci : Dimensi ekuitas merek, niat membeli
DO COMMON DRIVE STOCK SPLIT DECISIONS FOR OVERVALUED OF THE FIRM?
Get PDFStock split has been debated and puzzling phenomenon to Þ nance theorists, because there are inconsistencies between theory and practice. Theoretically, the stock split will only increase the number of common shares, without increasing proÞ ts for investors, or the value for the company. While in practice, few empirical studies indicate that the market tends to react to the stock split announcement. This study tried to explain about whether or not the difference between trading volume activity and abnormal return before and after the announcement of stock split i n the era of globalization. Market reaction to stock split has been shown to change the average trading volume activity and abnormal return.
This research to explain about there is or not any differences between trading volume activity and abnormal return before after the stock split announcement. Selected population for this research are all company that listed in Indonesian Stock Exchange. Sample consists of 41 stocks performing the stock split during the period of Januari 2005 to December 2009 by purposive sampling method.
Pursuant to result of data analysis, could be concluded that as a whole result from the statistic test at 10 days period before and after the stock split announcement to the volume of trade is known that the overall results showed difference between the average trading volume activity before and after the stock split announcement. Neither the average abnormal return as the overall results of statistical tests on the 10 days before and after the stock split announcement showed signiÞ cant difference in abnormal return before and after the stock split announcement period.
Keywords: Stock Split, Trading Volume Activity, Abnormal Return, Indonesian Stock Exchang
AN ANALYSIS OF CORPORATE FINANCIAL POLICY AND ITS INFLUENCE ON THE CORPORATE VALUE
Get PDFThis research analyzes the corporate financial policy and its influence on
the value of the firm. The corporate policy taking financial decision is an
important part for the corporation because it concerning how to get the fund for
finance investment and how to determine the optimal composition of fund source
for the corporation, and is it best for the corporation using internal or external
fund source, and is it preferable for the corporation utilizing internal or foreign
capital in achieving optimal composition capital.
Population in this research is all of go public manufacturing corporations
registered in Indonesian Stock Exchange (BEI) of the year 2000 until 2005, the
total sample is 132 corporations. Choosing and determining the sample are based
on technique of purposive sampling type judgment sampling. Relying on the
criteria, there are 61 corporations as the sample, the data is taken for six years
from 2000 till 2005, the amount of data (n) is 366. This research applied two
variable, they are endogen variable (capital structure and value of the firm), and
exogenous variable (capital expenditure, corporate growth, ownership structure,
market risk and corporate profitability). Structural Equation Modeling is carried
out to analyze this research.
The result points out that utilizing of debt is more profitable since the
debt cost is smaller than stock cost, and there is taxes benefit of debt purpose.
However, the corporate has to notice that utilizing the amount of debt will
encourage the increasing of interest load and credit installment, so it has effect on
the risk rising in cash flow disability to cover the corporate obligation. It is known
as Trade-off Theory which asserts that debt utilizing will produce taxes thrift, but
the other side it causes financial distress.
Keywords: capital structure, pecking order theory, agency theory, Asymmetric
information and Trade-off Theory
PENGARUH DIMENSI EKUITAS MEREK TERHADAP NIAT MEMBELI
Get PDFThe objective of this study is to examine; (1) the simultaneous effects of brand awareness, advertising awareness, brand association and perceived quality on the intent to buy; (2) the partial effect of brand awareness, advertising awareness, brand association and perceived quality on the intent to buy; (3) is brand association a dominant variable that effect on the intent to buy. Survey was conducted to collect data from partisipants. The research used multiple linier regression to analyze data.The results show that simultaneously, brand awareness, advertising awareness, brand association and perceived quality have a significant effect on the intent to buy. The results also indicate that partially, brand association has a significat effect on the intent to buy. Nevertheless, brand awareness, advertising awareness and perceived quality have not significant effect on the intent to buy
AN ANALYSIS OF CORPORATE FINANCIAL POLICY AND ITS INFLUENCE ON THE CORPORATE VALUE
Get PDFThis research analyzes the corporate financial policy and its influence on the value of the firm. The corporate policy taking financial decision is an important part for the corporation because it concerning how to get the fund for finance investment and how to determine the optimal composition of fund source for the corporation, and is it best for the corporation using internal or external fund source, and is it preferable for the corporation utilizing internal or foreign capital in achieving optimal composition capital.
Population in this research is all of go public manufacturing corporations registered in Indonesian Stock Exchange (BEI) of the year 2000 until 2005, the total sample is 132 corporations. Choosing and determining the sample are based on technique of purposive sampling type judgment sampling. Relying on the criteria, there are 61 corporations as the sample, the data is taken for six years
from 2000 till 2005, the amount of data (n) is 366. This research applied two variable, they are endogen variable (capital structure and value of the firm), and exogenous variable (capital expenditure, corporate growth, ownership structure, market risk and corporate profitability). Structural Equation Modeling is carried out to analyze this research. The result points out that utilizing of debt is more profitable since the debt cost is smaller than stock cost, and there is taxes benefit of debt purpose.
However, the corporate has to notice that utilizing the amount of debt will encourage the increasing of interest load and credit installment, so it has effect on the risk rising in cash flow disability to cover the corporate obligation. It is known as Trade-off Theory which asserts that debt utilizing will produce taxes thrift, but the other side it causes financial distress.
Keywords: capital structure, pecking order theory, agency theory, Asymmetric
information and Trade-off Theory
DETERMINAN FAKTOR FUNDAMENTAL TERHADAP RETURN SAHAM (Study Pada Perusahaan Yang Masuk ILQ 45 di Bursa Efek Indonesia)
Get PDFThis research analyzes, (1 ) fundamental factor influences Price Earning Ratio, Debt to Equity Ratio, Return on
Equity, and Book Value simultant and partially to return stock on corporate incoming Index Liquid 45 (ILQ 45) at Indonesian Stock Exchange (BEI), (2 ) to know variable which that influential dominant to return stock on corporate incoming ILQ 45 at Indonesian Stock Exchange (BEI). In this research, specified sample as much 17 incoming firms in ILQ 45 to periods 2004 2008 one accomplishes criterions as sample. Finding on observational it, fundamental factors Price Earning Ratio, Debt to Equity Ratio, Return on Equity, and Book Value declare for that simultant available influence that signifikan to return stock, in t test (partial)fundamental factor Price Earning Ratio and Return on Equity partially have siginifikan's influence to return stock, and variable Price Earning Ratio (PER) having for dominant to return stock on corporate incoming deep ILQ 45 at Indonesian Stock Exchange (BEI)
Otonomi Daerah Sebagai Upaya Memperkuat Perekonomian Daerah
Get PDFKrisis Ekonomi yang tengah melanda bangsa Indonesia telah menyadarkan kepada kita semua akan pentingnya menggagas kembali konsep otonomi daerah dalam arti sebenarnya. Gagasan penataan kembali system otonomi daerah bertolak dari pemikiran untuk rnenjarnin terjadinya efisiensi, efektivitas, transpransi, akuntabilitas dan demokratisasi nilai-nilai kekayaan dalam praktek penyelenggaraan Pemerintah Daerah. Selama ini Pemerintah Daerah untuk dapat membangun daerah ternyata semakin jauh dari kenyataan. Yang terjadi adalah ketergantungan fiscal dan subsidi serta bantuan Pemerintah Pusat sebagai wuiud ketidakberdayaan Pendapatan Asli Daerah (PAD) dalam membiayai Belanja Daerah. Pemerintah Daerah kurang diberi keluasaan untuk rnenentukan kebijakan daerahnya sendiri. Kewenangan yang selama ini diberikan kepada daerah tidak disertai dengan pemberian infrastruktur yang memadai, penyiapan sumber daya manusia yang professional dan pembiayaan yang adil, Akibatnya yang terjadi bukannya tercipta kemandirian dearah tetapi justru ketergantungan daerah terhadap pernerintah pusat, Dampak dari system yang selama ini kita anut menyebabkan Pemerintah Daerah tidak responsive dan kurang peka terhadap aspirasi masyarakat daerah Pemerintah pusat melakukan campur tangan terhadap Daerah dengan alasan untuk menjamin stabilitas nasional dan masih lemahnya sumber daya manusia yang ada di Daerah. Karena dua alasan tersebut , sentralisasi otoritas dipandang sebagai prasyarat untuk menciptakan persatuan dan kesatuan nasional serta mendorong pertumbuhan ekonomi
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