Sri Wahyu Agustiningsih, Sri Wahyu
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Fenomena Underpricing Pada Perusahaan Go Public di Indonesia

Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 3, No 1 (2014): JBK Vol.3 No.1 Januari 2014
Publisher : Jurnal Ekonomi Bisnis dan Kewirausahaan

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Abstract

This research trytoanalyzethe factors that influence the occurrence of underpricing in companies that go public. This study uses a more variable varies the financial and non-financial variables contained in the prospectus which is composed of the reputation of the underwriter, auditor reputation, firm size, financial leverage, return on assets (ROA) and return on equity (ROE). According to the results of previous studies, these variables generally tend to show a significant effect on underpricing in companies that go public. This research is ekspost facto (causal comparative). Sample selection method used was purposive sampling and sample used was 132 sample companies doing an Initial Public Offering on the Indonesia Stock Exchange in the period 2002-2012. This study uses regression testing models. Regression analysis showed that only the underwriter reputation significantly influence underpricing

Jurnal Ekonomi Bisnis Dan Kewirausahaan Vol.III No.2 Januari 2014

Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 3, No 1 (2014): JBK Vol.3 No.1 Januari 2014
Publisher : Jurnal Ekonomi Bisnis dan Kewirausahaan

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Abstract

Jurnal ekonomi Bisnis dan kewirausahaan ini  Vol  III No 1 ini menghadirkan 6 artikel dari berbagai  Sub disiplin Administrasi bisnis. Artikel pertama berkaitan dengan  dunia kewirausahaan dengan judul  analisis faktor  dominan yang bergaruh terhadap  keberhasilan berwirausaha pada sarjana Universitas Sahid Surakarta, artikel ini merupakan hasil penelitian  dengan metode kuantitatif yang dilakukan oleh Kohar Sulistyadi, Nugroho B Sukamdani. Penelitian tersebut memperjelas bahwa minat sarjana USS dalam berwirausaha masih rendah. beberapa indikasi menunjukkan bahwa karakter wirausaha dari para sarjana maupun mahasiswa USS belum sepenuhnya memahami atas jiwa kewirausahaan yang dicanangkan sebagai Visi dan Misi USS, sehingga perlu usaha keras untuk membangun persepsi dan memperkuat program bisnis center atau inkubator bisnis di lingkungan USS. Artikel kedua berkaitan dengan fenomena underpricing pada perusahaan yang go public di Indonesia, oleh peneliti Purwanto, Sri Wahyu Agustiningsih, Salman Faris Insani dan Budi Wahyono.  Dimana IPO (Initial Public Offering) merupakan salah satu alternatif pembiayaan yang dapat digunakan oleh perusahaan yang telah go public yaitu dengan melakukan penerbitan saham baru untuk dijual di pasar perdana sebelum diperdagangkan di pasar sekunder (bursa efek). Artikel Ketiga adalah Potensi Pariwisata Dalam Perekonomian Indonesiaoleh Agung Nurmansyah. Sedangkan artikel keempat adalah Profitabilitas Perbankan Syariah, Kun Ismawati dan Nurhayati.  Artikel tersebut menganalisis pengaruh Size, Total Equity to Total Assets, Total Loans to Total Assets, dan Total Deposits to Total Assets terhadap ROA (Return on Assets) pada Perbankan Syariah MI dan SM di Indonesia. Artikel terakhir yaitu Pendekatan Supply Chain Management Untuk Meningkatkan Daya Saing Pada Bisnis Bunga Segar oleh Rusnandari Retno Cahyani.

Pengaruh Struktur Corporate Governance Terhadap Initial Public Offering (Ipo)Underpricing Di Indonesia

Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 4, No 1 (2015): JBK Vol.4 No.1 Januari 2015
Publisher : Jurnal Ekonomi Bisnis dan Kewirausahaan

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This research try to examine whether corporate governance when the company madean Initial Public Offering (IPO) affect the level of underpricing shares of companies that go public by using the period 2002-2012. This study focuses on the influence of corporate governance structure on the level of underpricing by using control variables underwriter reputation, return on assets (ROA), firm size, financial leverage, and return on equity (ROE). According to the results of previous studies, these variables generally tend to show a significant effect on underpricing in companies that go public.            This research is ekspost facto (causal comparative). Sample selection method used was purposive sampling and sample used was 131 sample companies doing an Initial Public Offering on the Indonesia Stock Exchange in the period 2002-2012. This study uses regression testing models. Regression analysis showed that only the underwriter reputation significantly influence underpricin.

Peran Income Smoothing dalam Meningkatkan Earnings Informativeness

Jurnal Akuntansi dan Bisnis Vol 14, No 2 (2014)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

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The purpose of this study was to obtain empirical evidence of income smoothing effect on earnings informativeness. Earnings informativeness is the information content of future returns that reflected from return (Tucker and Zarowin, 2006). This study will develop a CKSS concept that developed by Collins et al. (1994), which tested the earnings informativeness through future earnings response coefficients (future earnings response coefficient / FERC) in measuring the influence of the stock return movement in future earnings. The samples in the study were determined by using purposive sampling, which took samples of non-financial companies, with years of observation from 2004 to 2011. The research sample includes 104 non-financial companies listed on the Indonesia Stock Exchange. This study using SPSS 20 version, as multiple regression analysis (multiple regression). Tests conducted on the interaction effect of income smoothing with future earnings to return. The test results in this study showed a significant positive value, indicated that income smoothing action able to strengthening the relationship of earnings and return. This proves that income smoothing action is not always biased (garbles), but this action is aimed as efficient communication, because the information generated by company is significantly can be used as a prediction of future information. These results are consistent with Zarowin (2002), Tucker and Zarowin (2006), Cahan et al., (2008), as well as Hamzawi and Alfatooni (2011).

Pengaruh Penerapan Corporate Governance terhadap Kinerja Keuangan Perusahaan di Indonesia

Jurnal Akuntansi dan Bisnis Vol 16, No 1 (2016)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

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This study aims to examine the effect of the corporate governance to firm performance. Corporate governance is a concept that emphasizes the importance of the right of shareholders to obtain information that is accurate, correct and timely. The structure of corporate governance in this study focuses on board size and the proportion of independent directors.The sampling technique in this research is purposive sampling, which samples are intentionally determined based ciri.sifat characteristics deemed to have a close relationship with the characteristics / properties of the previously known populations. Based on test results obtained in this study concluded that there is significant influence board size and the proportion of independent directors regarding the company's financial performance, both of which are measured by the cash flow return on assets (CFROA) and return on equity (ROE).

FAKTOR –FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN BUMN DI BURSA EFEK INDONESIA TAHUN 2011-2015

MANAJEMEN DEWANTARA Vol 1, No 2 (2017): MANAJEMEN DEWANTARA
Publisher : Universitas Sarjanawiyata Tamansiswa

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Abstract

This study aims to examine the factors that affect the value of state enterprises in the Indonesia Stock Exchange Year 2011-2015. State companies have an important role in the Indonesian economy. State companies also serve to generate revenue for the Indonesian government to fund the Indonesian State Budget. Factors affecting the value of state firms tested in this research are Cash Holding, Leverage, Exchange Rate, Net Working Capital, ROA, Size, and Firm Age. In addition, this study also uses control variables to test the effect of independent variables on the dependent variable of firm value. The control variables used in this study are International Trade, Growth Opportunity, GDP per capita, and Total Asset Turnover Ratio. This study uses a sample of state companies listed on the IDX 2011-2015. This research uses multiple regression analysis to test the influence of independent variable and control variable to Dependent variable. The results show that Cash Holding, Leverage, Exchange Rate, Net Working Capital, ROA, Size, Firm Age, International Trade, Growth Opportunity, GDP per capita, and Total Asset Turnover Ratio simultaneously have significant effect on firm value measured by tobin-q. The t test shows that firm size partially has a significant negative effect on firm value while other variables show insignificant results.