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Determinant of Stock Return and Its Implications on Market Value (Study on Construction and Building Issuer Year 2015-2019) 股票收益的决定因素及其对市值的影响(2015-2019年建筑业及建筑业发行人研究)
Pub Date : 2021-01-13 DOI: 10.36348/sjbms.2021.v06i01.001
Pungky Soleha Millenianingsih, Bambang Mulyana
The purpose of this study was to determine and analyze the behavior of stock returns and the market value of the company in the construction and building sub-sector listed on the Indonesia Stock Exchange for the year 2015-2019. The population in this research was 18 companies; using purposive sampling method obtained 8 companies as analysis units. The data analysis technique used is multiple linear regressions with the help of the SPSS v.26 application. The results of this study indicate that NWC has a negative significant effect on stock returns, DER has a negative significant effect on stock returns, ROA has a negative insignificant effect on stock returns, TATO has a positive insignificant effect on stock returns, and stock returns has an negative significant effect on PER.
本研究的目的是确定和分析2015-2019年在印度尼西亚证券交易所上市的建筑和建筑子行业公司的股票收益和市值行为。这项研究的对象是18家公司;采用目的抽样法,选取8家企业作为分析单位。使用的数据分析技术是在SPSS v.26应用程序的帮助下进行多元线性回归。本研究结果表明,NWC对股票收益有负显著影响,DER对股票收益有负显著影响,ROA对股票收益有负不显著影响,TATO对股票收益有正不显著影响,股票收益对PER有负显著影响。
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引用次数: 0
Analysis of Investment Feasibility of 25mw Power Plant Development Project in Paper Factory in Karawang in Financial Aspects, Technology and Environmental 卡拉旺造纸厂25mw电厂开发项目投资可行性的财务、技术和环境分析
Pub Date : 2020-07-27 DOI: 10.36348/sjbms.2020.v05i07.008
Rosalendro Eddy Nugroho, Ihsan Maulana
Electrical energy is a source of energy needed by industry. This study aims to analyze the feasibility of investing in the construction of a pulp and paper industry power plant in Karawang. Research in terms of aspects of technology, environmental impacts are compared in the application of old technology and new technology. Financial aspects with the capital budgeting method. From the results of studies in the aspects of Technology 29.66 Tons / h Coal can produce 25 MW of electricity and supply steam for paper production. While the old Boiler 28.6 Ton / h only supplies steam for paper production, so that the Power Plant Project is more efficient than production costs and multifunctional technology. From an environmental aspect the technology used for fly ash is using ESP. ESP can not only reduce Sox, Nox, Total Particulate can also eliminate HG and fine dust so that it is safe for the environment and financial aspects of calculations with a payback period showing 3.62 years or 3 years 7 1/2 months, by using a Discounted payback return period is 4.21 Year or 4 years 2.5 months, using a Net Present Value (NPV) of $ 32,513,596.83, using the Internal Rate of Return (IRR) method is 36.88%, and using the Profitability Index (PI) method is 2.29. After comparing with the eligibility criteria, it can be concluded that this project is feasible to be implemented.
电能是工业所需的一种能源。本研究旨在分析投资兴建卡拉旺制浆造纸工业发电厂的可行性。从技术方面进行研究,比较了新老技术应用对环境的影响。财务方面的资本预算方法。从技术方面的研究结果来看,29.66吨/小时的煤可以产生25兆瓦的电力,并为造纸提供蒸汽。而旧锅炉28.6吨/小时仅为造纸提供蒸汽,使电厂项目效率高于生产成本和多功能技术。从环境方面的技术用于粉煤灰使用ESP。ESP不仅可以减少袜,氮氧化物,总颗粒还可以消除汞和粉尘,是安全的计算环境和金融方面的投资回收期显示3.62年或3年7 1/2个月,通过使用一个贴现回报回报周期是4.21年或4年2.5个月,使用净现值(NPV) 32513596 .83点美元,使用内部收益率(IRR)方法是36.88%,盈利能力指数(PI)法为2.29。通过与资质标准的比较,认为本项目具有实施的可行性。
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引用次数: 1
The Influence of Good Corporate Governance, Earning Per Share, and the Characteristisc of the Company on Earnings Management (Case Study at Banking go public Companies Listed on Indonesia Stock Exchange 2015 – 2018) 良好公司治理、每股收益及公司特征对盈余管理的影响(以2015 - 2018年印尼证券交易所银行上市公司为例)
Pub Date : 2020-07-11 DOI: 10.36348/sjbms.2020.v05i07.005
Fitri Adelina Nasution, Nengzih Nengzih
This study aims to examine the effect of the effect of Good Corporate Governance, Earning Per Share, and Company Characteristics on Earnings Management. Good Corporate Governance is measured using indicators of Institutional Ownership, Managerial Ownership, Independent Board of Commissioners, Audit Committee, Earning Per Share, Company Size on Profit ManagementThe banking companies that have gone public are listed on the Indonesia Stock Exchange (IDX) in 2015-2018. The method used is a quantitative method. The population in this study were all banking companies listed on the Indonesia Stock Exchange for four years, namely 2015 2018. Determination of the number of samples was carried out using purposive sampling techniques with certain considerations or criteria so that the samples used in this study were 26 companies. Data collection techniques in this study were carried out in several ways, namely by documentation and literature study. The data obtained were then analyzed using the multiple linear regression analysis model using SPSS version 24. However, before multiple regression analysis was performed first, a descriptive statistical regression analysis and a classic assumption test were performed.
本研究旨在探讨良好公司治理、每股盈余和公司特征对盈余管理的影响。良好的公司治理是通过机构所有权、管理层所有权、独立委员会、审计委员会、每股收益、公司规模和利润管理等指标来衡量的。2015-2018年在印度尼西亚证券交易所(IDX)上市的银行公司。所使用的方法是定量方法。本研究的人口都是在印度尼西亚证券交易所上市的银行公司,时间为四年,即2015年至2018年。样本数量的确定是使用有目的的抽样技术进行的,有一定的考虑因素或标准,因此本研究中使用的样本是26家公司。本研究的数据收集方法采用文献法和文献法。使用SPSS version 24对所得数据进行多元线性回归分析模型分析。但在进行多元回归分析之前,先进行描述性统计回归分析和经典假设检验。
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引用次数: 4
Effects of Customer Satisfaction on Customer Loyalty in Selected Hotels in Nairobi, Kenya 肯尼亚内罗毕选定酒店顾客满意度对顾客忠诚的影响
Pub Date : 2020-06-16 DOI: 10.36348/sjbms.2020.v05i06.004
L. Akunja
Customer loyalty is a key objective for organizations pursuing a relationship approach with their customers. Creating and maintaining loyalty with customers is critical for the survival of a company in a competitive environment as in the hospitality sector. The link between customer satisfaction and customer loyalty in the service sector especially in hotels seems to be unclear. Further, limited literature and studies related to customer satisfaction and customer loyalty exist in the hotel sector in Kenya, hence the need for this study. The purpose of this study was to provide an understanding of the effects of customer satisfaction on customer loyalty in the hotel sector in Kenya. The sample size for the study was 253 and six marketing managers who were used as key informers. The study employed purposive, stratified and systematic random sampling. Reliability was tested using Cronbach’s Alpha resulting in a value 0.924. Factor analysis was used for data reduction while simple regression was used to analyze and test the hypothesis. The findings of this study indicated that customer satisfaction (t=13.940, p<.001) significantly affected customer loyalty. It was concluded that an improvement in customer satisfaction would likely result into improved customer loyalty.
客户忠诚度是企业追求与客户建立关系的关键目标。在酒店业这样竞争激烈的环境中,建立并保持对客户的忠诚对于公司的生存至关重要。在服务行业,尤其是酒店,顾客满意度和顾客忠诚度之间的联系似乎还不清楚。此外,有限的文献和研究有关的顾客满意度和顾客忠诚度存在于肯尼亚的酒店部门,因此需要进行这项研究。本研究的目的是提供客户满意度对客户忠诚度在肯尼亚酒店部门的影响的理解。该研究的样本量为253人,其中6名营销经理被用作关键线人。本研究采用有目的、分层、系统随机抽样。采用Cronbach’s Alpha检验信度,结果为0.924。采用因子分析进行数据缩减,采用简单回归分析和检验假设。本研究发现顾客满意显著影响顾客忠诚(t=13.940, p<.001)。结论是顾客满意度的提高可能会导致顾客忠诚度的提高。
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引用次数: 3
The Effect of Experiential Marketing Factors on the Competitiveness of Islamic Higher Education in Indonesia 体验营销因素对印尼伊斯兰高等教育竞争力的影响
Pub Date : 2020-06-12 DOI: 10.36348/sjbms.2020.v05i06.003
Prim Masrokan Mutohar, N. Haryati
The challenge faced by Islamic higher education in the global era at this time is to improve the quality and competitiveness of higher education so that it is sought after by the education user community. The quality and competitiveness of higher education must be promoted and marketed to the wider community so that it can be known and sought after by the education user community. The purpose of this study was to determine the effect of experiential marketing factors on the competitiveness of Islamic higher education in Indonesia. This study uses a quantitative research design with a survey technique of teaching staff. The survey was conducted on 200 educational staff of Islamic higher educations in East Java, Indonesia. Data were collected using a questionnaire and analyzed using SEM AMOS. Hypothesis test results indicate that there is no effect between factor sense and feel marketing on the competitiveness of Islamic Higher Education in Indonesia and there is a significant effect between think, act, and relate marketing factors on the competitiveness of Islamic higher education in Indonesia. The better in implementing think, act, and related marketing can improve the competitiveness of Islamic Universities. These variable conditions need to be improved in implementing experiential marketing education so that universities are increasingly in demand by stakeholders.
此时伊斯兰高等教育在全球化时代面临的挑战是提高高等教育的质量和竞争力,使其受到教育用户群体的追捧。高等教育的质量和竞争力必须向更广泛的社区推广和推销,以便为教育用户社区所了解和追捧。本研究的目的是确定体验营销因素对印尼伊斯兰高等教育竞争力的影响。本研究采用定量研究设计和教师问卷调查方法。这项调查是对印度尼西亚东爪哇伊斯兰高等教育的200名教育人员进行的。采用问卷调查法收集数据,并采用SEM - AMOS进行分析。假设检验结果表明,感知营销因素和感觉营销因素对印尼伊斯兰高等教育竞争力的影响不显著,而思维营销因素、行动营销因素和相关营销因素对印尼伊斯兰高等教育竞争力的影响显著。更好地实施思想营销、行动营销和相关营销,可以提高伊斯兰大学的竞争力。在实施体验式营销教育时,这些可变的条件需要得到改善,从而使大学越来越受到利益相关者的需求。
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引用次数: 1
Management of Capital Availability on Shareholding Ratio and Business Performance 资本可用性对持股比例和经营业绩的影响
Pub Date : 2020-06-11 DOI: 10.36348/sjbms.2020.v05i06.002
Z. An, Aasma Memon, Muhammad Qasim Memon, A. Memon, M. Jaffar
Demand of business performance enlargement is expeditiously increasing and its achievement is an important concern in the contemplation of management capability and domestic enterprises. Corporate governance mechanism is a big controversy to this concern and it became a conventional research in every country and their relation with executive is different due to the law and proprietary structure. In this article, executive’ shareholding impact on business performance is evaluated in order to analyze the executive ownership concentration and their relationship with business performance. Moreover, analysis is performed using theoretical and empirical method to control over business performance. First, theoretical method is considered to analyze co-relationship between executive and corporate performance and its significance to the business performance. Second, empirical method evolved with underlying measurement models and evaluated using regression analysis and robustness test. We collected the data of Chinese listed companies (partitioned into state and non-state owned companies) in the year from 2014 to 2016. Empirical results could find a positive correlation between executive and corporate performance as well as validating the improvised hypothesis. We also found that executive ownership could guide and impel the management to alienate the interests of executives’ shareholding ratio in order to shorten the interim behavior of senior executives. Our findings provide more insights on executive ownership to expedite business performance management by straightening the interests of executives.
企业绩效扩大的需求正在迅速增加,其实现已成为管理能力和国内企业思考的重要问题。公司治理机制是这一问题的一大争议,并成为各国的常规研究,由于法律和所有权结构的不同,公司治理机制与高管的关系也不同。本文通过评价高管持股对企业绩效的影响,分析高管持股集中度及其与企业绩效的关系。运用理论与实证相结合的方法对企业绩效进行控制分析。首先,采用理论方法分析高管与公司绩效的相互关系及其对企业绩效的意义。其次,实证方法在基础测度模型的基础上进行演化,并采用回归分析和稳健性检验进行评价。我们收集了2014 - 2016年中国上市公司(分为国有和非国有)的数据。实证结果可以发现高管与公司绩效之间存在正相关关系,并验证了即兴假设。我们还发现,高管持股可以引导和推动管理层疏离高管持股比例的利益,以缩短高管的临时行为。我们的研究结果提供了更多关于高管所有权的见解,通过理顺高管的利益来加快企业绩效管理。
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引用次数: 0
Antecedents That Affect Job Satisfaction and Employee Performance 影响工作满意度和员工绩效的前因
Pub Date : 2020-06-11 DOI: 10.36348/sjbms.2020.v05i06.001
N. Faradila, A. Heksarini, D. Darma
In the era of globalization, which is marked by intense competition between hospitals, it requires anticipating improvements in service quality on an ongoing basis in line with the increasingly high expectations of customers for hospital services. This paper presents the quality of internal services and individual characteristics of satisfaction and its implications for employee performance. The population of this study was 56 participants of the Regional General Hospital (Korpri) of East Kalimantan Province through a questionnaire. The analysis model uses Structural Equation Model (SEM) based on Partial Least Square (PLS). Overall, the Quality of Internal Service has a positive and significant effect, while Individual Characteristics have a positive and significant impact on Job Satisfaction. The second model proves that the Quality of Internal Service actually has a positive and significant effect on Employee Performance. On the other hand, Individual Characteristics and Job Satisfaction have a positive impact, but not significant for Employee Performance. In order to improve employee satisfaction and performance through individual characteristics and service quality, there is a need for support from management and fostering good relationships with superiors and colleagues.
在以医院之间的激烈竞争为标志的全球化时代,它要求根据客户对医院服务的日益高的期望,不断预测服务质量的改进。本文介绍了内部服务质量和个人满意度特征及其对员工绩效的影响。本研究的研究对象是东加里曼丹省地区总医院(Korpri)的56名参与者。分析模型采用基于偏最小二乘法的结构方程模型(SEM)。总体而言,内部服务质量对工作满意度有正向显著影响,而个人特征对工作满意度有正向显著影响。第二个模型证明了内部服务质量实际上对员工绩效有显著的正向影响。另一方面,个人特征和工作满意度对员工绩效有正向影响,但对员工绩效影响不显著。为了通过个人特点和服务质量来提高员工的满意度和绩效,需要管理层的支持,并培养与上级和同事的良好关系。
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引用次数: 3
Simulation of Influence on Date of Sowing and Irrigation Levels on Grain Yield of Wheat using DSSAT-Model in Different Agroclimatic Zones of Uttar Pradesh, India 利用dssat模型模拟印度北方邦不同农业气候带播期和灌溉水平对小麦产量的影响
Pub Date : 2020-05-30 DOI: 10.36348/sjbms.2020.v05i05.002
A. K. Baxla, R. Mall, K. Singh, P. Singh, G. B. Gohain, Lata Vishnoi
The CERES Wheat (V4.6) Simulation Model was calibrated and validated using experimental field data collected on phenology, yield and yield attributes of ruling cultivars of wheat under FASAL (Forecasting Agricultural output using Space, Agro meteorology and Land base observation) scheme during the winter (rabi) seasons of 2012-13 to 2015-16 at Faizabad, Modipuram, Kanpur, Allahabad and Varanasi AMFUs (Agrometeorological Field Units) of Uttar Pradesh under irrigated condition with the objective to study the growth and yield of wheat at different sowing dates and irrigation levels and to simulate trends of wheat production. The genetic coefficient derived from the calibration of the CERES-Wheat Model for both varieties PBW-343 and Malviya-234 were reasonably very close to observed yield. Therefore, the model as used for evaluation of sowing date and irrigation level in wheat crop. The model was run for six sowing dates on seven days interval i.e.30 October, 06, 13, 22 & 27 November and 5 December and increasing level of (five) irrigations. Simulation studies depicts that the model performance was good under three (I3) and four (I4) irrigation level , after five (I5) irrigation yields are same as I4 in most of the districts of different agro climatic zone while poor performance was observed under two (I2) and one (I1) irrigation level. Wheat yield was also simulated at different sowing dates, results shows that 22 November is the optimum sowing date for Bundelkhand, Central Plain, Eastern Plain, NE Plain and Vindhyan zone and 13 November for Mid western Plain, SW Plain, Bhabhara & Tarai and Western plain zone while less yield was observed in early and late sowing.
利用FASAL(利用空间、农业气象和地面观测预测农业产量)方案收集的2012-13年至2015-16年冬季(rabi)季节小麦主要品种物候、产量和产量属性的试验田数据,对CERES小麦(V4.6)模拟模型进行了校准和验证。在灌溉条件下,对北方邦阿拉哈巴德和瓦拉纳西的AMFUs(农业气象现场单位)进行了研究,目的是研究不同播期和灌溉水平下小麦的生长和产量,并模拟小麦生产的趋势。PBW-343和Malviya-234的CERES-Wheat模型校正得到的遗传系数与观测产量相当接近。因此,该模型可用于小麦作物播期和灌溉水平的评价。该模型以7天间隔,即10月30日、11月6日、13日、22日、27日和12月5日为6个播期,并增加(5)次灌溉水平。模拟研究表明,该模型在三(I3)和四(I4)灌溉水平下表现良好,五(I5)灌溉后产量在不同农业气气带的大部分地区与I4灌溉水平相当,而在二(I2)和一(I1)灌溉水平下表现较差。结果表明,11月22日是本德尔坎德、中部平原、东部平原、东北平原和温德扬地区的最佳播期,11月13日是中西部平原、西南平原、巴布哈拉和塔拉伊地区和西部平原地区的最佳播期,早、晚播期产量较低。
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引用次数: 0
Market Growth Strategies and Performance of Small and Medium Scale Enterprises in Benue State, Nigeria 尼日利亚贝努埃州中小企业的市场增长战略和绩效
Pub Date : 2020-01-15 DOI: 10.36348/sjbms.2020.v05i01.001
Asenge, Emmanuel Lubem, Asue, Timothy Terkimbir
In all economies Small and Medium Scale Enterprises (SMEs) constitute the vast majority of business establishments thereby contributing to employment generation, poverty reduction, Gross Domestic Product (GDP) and household income. Stiff competition requires SMEs to adopt different strategies to improve performance. This study examines the effect of market growth strategies on the performance of small and medium scale enterprises in Benue State, Nigeria. The study specifically examined the effect of product development strategy, market penetration strategy and quality customer service strategy on the performance of small and medium scale enterprises in Benue State, Nigeria. The study adopted a survey research design and questionnaire was used as the instrument for data collection. The population of the study includes 281 SMEs in Makurdi metropolis selected across different sectors including Retail/Wholesale, Services, Agri-business and Manufacturing. Mean and standard deviation were used for data presentation and analysis while regression analysis was used for test of hypotheses. Findings of the study indicated that product development strategy and market penetration strategy have significant effect on the performance of small and medium scale enterprises in Benue State, Nigeria. The study also revealed that quality customer service strategy has significant effect on the performance of small and medium scale enterprises in Benue State, Nigeria. The study recommended amongst others that owners of SMEs in Benue State should always use strategies that will align market needs to be able to attract more customers and face competitors in the market.
在所有经济体中,中小型企业占商业机构的绝大多数,从而对创造就业、减少贫穷、国内生产总值和家庭收入作出贡献。激烈的竞争要求中小企业采取不同的策略来提高业绩。本研究考察了市场增长战略对尼日利亚贝努埃州中小企业绩效的影响。本研究具体考察了产品开发战略、市场渗透战略和优质客户服务战略对尼日利亚贝努埃州中小规模企业绩效的影响。本研究采用调查研究设计,采用问卷作为数据收集工具。该研究的人口包括马库尔迪大都市的281家中小企业,选择了不同的行业,包括零售/批发、服务业、农业企业和制造业。数据呈现和分析采用均值和标准差,假设检验采用回归分析。研究结果表明,产品开发战略和市场渗透战略对尼日利亚贝努埃州中小企业的绩效有显著影响。研究还发现,优质客户服务战略对尼日利亚贝努埃州中小企业的绩效有显著影响。该研究建议,贝努埃州中小企业的所有者应该始终使用符合市场需求的策略,以便能够吸引更多的客户并面对市场上的竞争对手。
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引用次数: 0
Specification of a Local Entrepreneurship Model 地方创业模式规范
Pub Date : 2019-11-30 DOI: 10.36348/sjbms.2019.v04i11.006
Javier Carreón Guillén, Arturo Sánchez Sánchez, C. Lirios
Background. The literature local venture out; 1) l to migration of talent from universities and emergent, stay in universities and developed talents return to his alma mater; 2) acculturation, multiculturalism and interculturality as management systems for the expulsion and reception of migrants; 3) the adaptation of migrant workers and the assimilation and selection of talents, as well as the identity in both; 4) the inexorability between community worker entrepreneurship and academic talent entrepreneurship.Objective. Specify a model of local entrepreneurship based on a review and discussion of theoretical, conceptual and empirical frameworks related to the migration of workers and talents.Method. A documentary study was conducted with a selection of indexed sources during the period from 2010 to 2019 in repositories in Latin America.Results. The model specified included after hypothesis of correlational trajectories between the assimilation, selectivity and identity variables reviewed in the state of knowledge.Discussion. From the approaches of acculturation, multiculturalism and interculturality, the inclusion of explanatory variables of equitable relations between economic, political and social actors is noted.Conclusion. The specification of the model can only be checked if it is possible to observe inter-culturalism in the public policies of micro-financing of entrepreneurial projects for local development.
背景。文学本土创业;1)对高校和新兴人才的迁移,留在高校和发展好的人才返回母校;2)文化适应、多元文化和跨文化作为驱逐和接收移民的管理制度;3)农民工的适应与人才的同化与选择,以及两者的认同;4)社区工作者创业与学术人才创业的必然性。在回顾和讨论与工人和人才迁移相关的理论、概念和经验框架的基础上,指定一个本地创业模式。在2010年至2019年期间,在拉丁美洲的知识库中选择索引来源进行了一项文献研究。在对同化、选择性和同一性变量之间的相关轨迹进行假设后,对模型进行了详细的讨论。从文化适应、多元文化主义和跨文化的方法中,注意到经济、政治和社会行动者之间公平关系的解释变量。只有在为地方发展的创业项目提供小额融资的公共政策中有可能观察到跨文化主义,才能检查模型的具体情况。
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引用次数: 7
期刊
Saudi Journal of Business and Management Studies
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