Teddy Chandra
Program Pascasarjana Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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THE IMPACT OF FUEL PRICE INCREASE ON STOCK PRICE IN INDONESIA STOCK EXCHANGE Chandra, Teddy
Journal of Economics, Business, and Accountancy | Ventura Vol 16, No 3 (2013): Desember 2013
Publisher : STIE Perbanas Surabaya

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The purpose of this research is to analyze the response ofIndonesian Capital Market to increase in fuel price as announced by the Government on June 22nd, 2013. This study uses abnormal returns and trading volume activity as the indicatorsto observe investors’ responses in the capital market. Event study is used in order to examine investors’ responses. It measures the investors’ response before and after the announcement of increase infuel price. The sample used in this study includes all companies listed on the LQ-45 for the period of February to July 2013. The result indicates that there are significant negative abnormal returns before the announcement of increasing in fuel price and there are positive abnormal returns after the announcement of increasing in fuel price. However,there is no significant difference between the abnormal returns before and after the announcement. Additionally, there is an increase in activity shown by the increase in trading volume activity before and after the announcement. Yet, there is no significant difference between the activity before and after the announcement.
Pasar Modal dan Karakteristik Investor Indonesia: Kasus Bursa Efek Jakarta Chandra, Teddy
Jurnal Aplikasi Manajemen Vol 7, No 1 (2009)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract: This article aims to describe the development of capital market in Indonesia –represented by Jakarta Stock Exchange (JSX) since the founding up to 2004 and to describe characteristics of investors in their tendency toward capital structure, corporate strategy, and the way they react on environment risks and how all of these bring effects on companys asset productivity, companys performance, and companys value as they sell their stocks in BEJ. Keywords: stock market, Jakarta Stock Exchange, investors, capital structure
Analisis Kepuasan Pasien sebagai Mediasi Pengaruh Kualitas Pelayanan Kesehatan terhadap Citra Rumah Sakit Umum Daerah (RSUD) Arifin Achmad Pekanbaru Marzaweny, Diskha; Hadiwidjojo, Djumilah; chandra, teddy
Jurnal Aplikasi Manajemen Vol 10, No 3 (2012)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract: The purpose of this research is to investigate the relationship between healthcare quality, patient satisfaction and the image of Arifin Achmad Pekanbaru General Hospital, and the mediating effect of patient satisfaction. Healthcare quality in this research was measured using Servqual model from Parasuraman et al. Sample in this research were 100 inpatients who are undergoing treatment at the Arifin Achmad Pekanbaru General Hospital at the time of data collection / interviews conducted in July 2011, with the following criteria: a) Patients had undergone inpatient treatment for a minimum of 2 days. b) Patients was conscious and able to communicate properly. c) Patients are not children. d) Patients are not hospital employees or their families. Hypotheses testing in this research were analysed using Path Analysis. The results indicate that healthcare quality has a positive and significant impact on patient satisfaction and the hospital image. Patient satisfaction has also significant impact on hospital image. Moreover, patient satisfaction appears to play mediating role in relationship between healthcare quality and the image of Arifin Achmad Pekanbaru General Hospital.Keywords: healthcare quality, Patient satisfaction, Hospital image
PENGARUH MEKANISME TATA KELOLA PERUSAHAAN TERHADAP KINERJA PERUSAHAAN PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA Chandra, Teddy; Sevendy, Tandy
Bilancia : Jurnal Ilmiah Akuntansi Vol 2 No 3 (2018): Bilancia : Jurnal Ilmiah Akuntansi
Publisher : Sekolah Tinggi Ilmu Ekonomi (STIE) Pelita Indonesia Pekanbaru

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The purpose of this researh is to know the influence of corporate governance on the financial performance that measured with return on equity (ROE) ratio. The population of this research is subsector propery and real estate company that listed in Indonesia Stock Exchange (IDX) period 2012-2016 which are 42 companies. The research datas are collected from company’s annual report. Data analysis techniques used in this research were multiple linear regression analysis, classical assumtion test and hypothesis test.The result show that board of directors and board of commissioners give a positve effect to financial performance, while independent of board commissioners, managerial ownerships, institusional ownerships and audit committees give no effect to financial performance. The influence of independent variables on dependent variable is 15,3%, while the rest is explained by other variables and factors outside the model. Penelitian ini bertujuan untuk mengetahui pengaruh tata kelola perusahaan terhadap kinerja perusahaan. kinerja perusahaan diukur dengan menggunakan rasio Return On Equity (ROE). Populasi pada penelitian ini adalah perusahaan subsektor property dan real estate yang terdaftar di Bursa Efek Indonesia tahun 2012-2016 sebanyak 49 perusahaan. Data penelitian diperoleh dari laporan keuagan tahunan perusahaan. berdasarkan metode purposive sampling, sampel yang diperoleh adalah sebanyak 42 perusahaan. Teknik analisis data yang digunakan adalah analisis regresi linear berganda, uji asumsi klasik dan pengujian hipotesis.Hasil penelitian menunjukkan bahwa komposisi dewan direksi dan komposisi dewan komisaris memiliki pengaruh positif terhadap kinerja perusahaan sedangkan komposisi dewan komisaris yang independen, kepemilikan saham manajerial, kepemilikan saham institusional, dan komite audit tidak berpengaruh terhadap kinerja perusahaan. besarnya pengaruh variabel independen terhadap variabel dependen adalah sebesar 15,3%, sedangkan sisanya dijelaskan oleh variabel atau faktor-faktor lain diluar model.
FAKTOR-FAKTOR YANG MEMPENGARUHI PEMILIHAN KARIR MENJADI AKUNTAN PUBLIK OLEH MAHASISWA JURUSAN AKUNTANSI (STUDI EMPIRIS PADA MAHASISWA AKUNTANSI PELITA INDONESIA) Chandra, Teddy; Arpan, Arpan
Bilancia : Jurnal Ilmiah Akuntansi Vol 1 No 3 (2017): Bilancia : Jurnal Ilmiah Akuntansi
Publisher : Sekolah Tinggi Ilmu Ekonomi (STIE) Pelita Indonesia Pekanbaru

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Purpose of this research is to review and analyze the influence of factors  Election accounting student career as a public accountant. Where these factors is the award, professional training, professional recognition, social values, work environment, market considerations and personality. Population Research is the College of Economics Pelita Indonesia. Research sampling using purposive sampling with criteria for accounting majors from 2012 to 2013 generation. Data collection methods using questionnaires The spread shown to the students Pelita Indonesia. Data analysis using multiple linear regression analysis. Tujuan dari penelitian ini adalah untuk menguji dan menganalisa pengaru faktor-faktor pemilihan karir mahasiswa akutansi sebagai akuntan publik. dimana faktor-faktor tersebut adalah penghargaan,pelatihan profesional,pengakuan profesional,nilai-nilai sosial,lingkungan kerja,pertimbangan pasar dan personalitas. Populasi dalam penelitian ini adalah Sekolah Tinggi Ilmu Ekonomi Pelita Indonesia. Pengambilan sampel dalam penelitian ini menggunakan purposive sampling dengan kriteria mahasiswa jurusan akuntansi angkatan 2012-2013. Metode Pengumpulan data mengunakan Kuesioner yang disebarkan kepada mahasiswa Pelita Indonesia. Analisis data menggunakan analisis regresi linier berganda.
"Agency Problem" dan Keputusan Struktur Modal: Bagaimana Perusahaan Mengelola Utang dalam Rangka Meningkatkan Produktivitas, Nilai, dan Kinerjanya Chandra, Teddy
Jurnal Aplikasi Manajemen Vol 8, No 1 (2010)
Publisher : Jurusan Manajemen Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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This article was aimed at describing the agency problem between investors and managers with solutional propositions and factors that affect capital structure as offered by the experts such as Modigliani and Miller, Myers, Jensen, and Brigham & Daves. A possible inference was proposed after explorating theories for solving the agency problem. Companies should enhance their managerial behaviour through asset growth strategy, potential growth strategy, and liquidity strategy in managing risks, particularly market risk. Thus, their productivity, performance, and value may be increased.
FAKTOR-FAKTOR YANG MEMENGARUHI STRUKTUR MODAL PADA PERUSAHAAN PROPERTI DAN REAL ESTATE DI INDONESIA Chandra, Teddy
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 18, No 4 (2014)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

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This research aims to analyze the factors affecting capital structure of property and real estate companies in Indonesia. The dependent variable used was DER, while the independent variable included profitability, growth opportunity, tangibility, size, dividend, liquidity, and business risk. The samples taken were the companies listed on the property and real estate sector of Indonesia Stock Exchange which were selected using purposive sampling. Among 47 companies listed on the property and real estate sector in the population, 8 companies were listed after January 2010, 1 company was delisting, and 1 company shifted to other sector. Hence, the samples used in this research were only 37 companies. The method used was linear regression. The result showed that profitability negatively influences capital structure; size and business risk have significant positive influence to the capital structure. On the other hand, growth opportunity, dividend, and liquidity do not have any significant influence on capital structure.
The Effects Of Environment Risk, Capital Structure, And Corporate Strategy On Assets Prod Chandra, Teddy
The International Journal of Accounting and Business Society Vol 17, No 1 (2009)
Publisher : Accounting Department,

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This study was aimed at: (1) examining the effects of environment risk consisted oi financial risk, business risk and market risk on corporate strategy, capital structure, asset productivity, financial performance and corporate value. (2) examining the effects of corporate strategy consisted of liquidity, sales growth, assets growth and growth potential on capital structure, assets productivity, financial performance and corporate value. (3) examining capital on assets productivity, financial performance and corporate value. The research was an explanatory study. This study was an explanatory research. All companies registered in Jakarta Stock Exchange in 2000-2004 periods were used as samples. They were divided into main board category consisted of 71 emitters, development board 62 emitters, and total board 134 emitters. Structural Equation Model was used as analysis method. SPSS 11.5 and AMOS 5.0 were used for processing data and allowing hypothetical tests to be performed. The results indicated that: (1) investors expect main board companies to adopt free cash flow whereas development board companies were expected to be more conservative by adopting pecking order theory. Most Indonesian companies were expected to adopt the latter. And, in fact, most of main, development, and total board companies in Indonesia tend to adopt pecking order theory. (2) In general, the increase of companys value was influenced by the increase of corporate strategy and capital deduction, but the increase would be much more higher if accompanied by raising assets productivity. For development board companies in particular, the increase of companys value should be accompanied by companys financial performance. (3) Creditors do not consider companys financial risk in giving loans, this implies the increase of stacked credit. (4) Investors do not trust companys financial performance report. (5) Strategic management may provide help in explaining capital structure phenomena with significant influence of corporate strategy on both capital structure and companys value. Key Words: Corporate Strategy, Environment Risk, Capital Structure, Assets Productivity, Financial Performance, Companys Value, financial risk, business risk market risk, sales growth, assets growth, growth potential, liquidity, debt to equity ratio, debt to assets ratio, equity to Assets ratio, return to assets ratio, basic earning ratio, pecking order Theory, free cash flow theory.
The Effects Of Environment Risk, Capital Structure, and Corporate Strategy on Assets Productivity, Financial Performance and Corporate Value: a Study on Go Public Companies Registered at Jakarta Stock Exchange Chandra, Teddy
The International Journal of Accounting and Business Society Vol 18, No 1 (2010)
Publisher : Accounting Department,

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Abstract

This study was aimed at: (1) examining the effects of environment risk consisted oi financial risk, business risk and market risk on corporate strategy, capital structure, asset productivity, financial performance and corporate value. (2) examining the effects of corporate strategy consisted of liquidity, sales growth, assets growth and growth potential on capital structure, assets productivity, financial performance and corporate value. (3) examining capital on assets productivity, financial performance and corporate value. The research was an explanatory study. This study was an explanatory research. All companies registered in Jakarta Stock Exchange in 2000-2004 periods were used as samples. They were divided into main board category consisted of 71 emitters, development board 62 emitters, and total board 134 emitters. Structural Equation Model was used as analysis method. SPSS 11.5 and AMOS 5.0 were used for processing data and allowing hypothetical tests to be performed. The results indicated that: (1) investors expect main board companies to adopt free cash flow whereas development board companies were expected to be more conservative by adopting pecking order theory. Most Indonesian companies were expected to adopt the latter. And, in fact, most of main, development, and total board companies in Indonesia tend to adopt pecking order theory. (2) In general, the increase of companys value was influenced by the increase of corporate strategy and capital deduction, but the increase would be much more higher if accompanied by raising assets productivity. For development board companies in particular, the increase of companys value should be accompanied by companys financial performance. (3) Creditors do not consider companys financial risk in giving loans, this implies the increase of stacked credit. (4) Investors do not trust companys financial performance report. (5) Strategic management may provide help in explaining capital structure phenomena with significant influence of corporate strategy on both capital structure and companys value. Key Words: Corporate Strategy, Environment Risk, Capital Structure, Assets Productivity, Financial Performance, Companys Value, financial risk, business risk market risk, sales growth, assets growth, growth potential, liquidity, debt to equity ratio, debt to assets ratio, equity to Assets ratio, return to assets ratio, basic earning ratio, pecking order Theory, free cash flow theory.
THE ANALYSIS OF FACTORS AFFECT INCOME SMOOTHING ON MISCELLANEOUS INDUSTRY COMPANIES LISTED ON INDONESIA STOCK EXCHANGE Anwar, Arfianti Novita; Chandra, Teddy
Jurnal Benefita Vol 2, No 3 (2017): Jurnal Benefita : Ekonomi Pembangunan, Manajemen Bisnis & Akuntansi
Publisher : LLDIKTI Wilayah X

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The objective of this research is to identify the factors which have influence on income smoothing at Miscellaneous Industry companies listed on Indonesian Stock Exchange period 2009-2013. Independent variables of this research include Return on Asset (ROA), Company Size, Dividend Payout Ratio (DPR), Debt to Equity Ratio (DER), and Financial Leverage while the dependent variable is income smoothing. The sample used in this study is 29 Miscellaneous Industry companies listed on the Indonesian Stock Exchange within a period of five years beginning in 2009 until 2013 with the selection method of purposive sampling. To identify the companies doing income smoothing, the Eckel Index was used. Statistical analysis used in this study uses descriptive statistics, multiple linear regressions and discriminant analysis. The results show that partially only company size and dividend payout ratio have significant impact on income smoothing meanwhile Return on Assets, Debt to Equity Ratio, Financial leverage did not show significant influence on income smoothing practices. The result of discriminant analysis shows there is significant difference of Return On Assets between income smoothing and non-smoothing company. Penelitian ini ditujukan untuk mengidentifikasi faktor-faktor yang mempengaruhi perataan laba pada perusahaan aneka industri yang terdaftar di Bursa Efek Indonesia pada periode 2009 – 2013. Variabel bebas yang digunakan dalam penelitian ini mencakup Return on Asset (ROA), Ukuran Perusahaan, Dividend Payout Ratio (DPR), Debt to Equity Ratio (DER) dan Financial Leverage, dengan variabel terikat perataan laba. Perusahaan yang menjadi sampel penelitian terdiri dari 29 perusahaan aneka industri yang dipilih dengan menggunakan metode purposive sampling. Untuk mengidentifikasi perusahaan-perusahaan yang melakukan praktik perataan laba dipergunakan indeks Eckel. Alat analisis yang dipergunakan untuk melakukan analisis deskriptif kuantitatif adalah analisis linear berganda dan analisis diskriminan. Hasil penelitian menunjukkan bahwa seluruh variabel bebas yang dipergunakan mampu menjelaskan proses perataan laba yang dilakukan oleh perusahaan dan yang memiliki pengaruh signifikan adalah ukuran perusahaan dan Dividend Payout Ratio. Sementara hasil dari analisis diksriminan menunjukkan bahwa terdapat perbedaan Return on Asset antara perusahaan yang melakukan praktik perataan laba dengan perusahaan yang tidak melakukan perataanlaba