The purpose of this research is to investigate whether there are significant differences in financial performance before Covid-19 and during Covid-19 in pharmaceutical companies listed on the IDX. The sample of this study was 9 companies and all of the population were sampled so that this study used the saturated sample technique. The analytical method used is a comparative test with a Paired T-test approach. The results of the study that ROE had a significant difference between before and during Covid-19 also had an impact on stock prices. Furthermore, the DPR has a significant difference between before and during Covid-19 so that it has an impact on stock prices. And lastly, PER has a significant difference between before and during Covid-19 which also has an impact on stock prices.
{"title":"Adakah Perbedaan Kinerja Keuangan Perusahaan Farmasi Sebelum dan Selama Covid-19?","authors":"Annisa Lukman A. Gaffar, Rabihatun, La Ode Sumail","doi":"10.24912/je.v27i2.1076","DOIUrl":"https://doi.org/10.24912/je.v27i2.1076","url":null,"abstract":"The purpose of this research is to investigate whether there are significant differences in financial performance before Covid-19 and during Covid-19 in pharmaceutical companies listed on the IDX. The sample of this study was 9 companies and all of the population were sampled so that this study used the saturated sample technique. The analytical method used is a comparative test with a Paired T-test approach. The results of the study that ROE had a significant difference between before and during Covid-19 also had an impact on stock prices. Furthermore, the DPR has a significant difference between before and during Covid-19 so that it has an impact on stock prices. And lastly, PER has a significant difference between before and during Covid-19 which also has an impact on stock prices.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85685847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to examine and analyze whether there is a partial or simultaneous influence between firm size, underwriter reputation, firm age, financial leverage, and capital market conditions on the level of underpricing. The population in this study is a family company that has conducted an IPO and has been listed on the Indonesia Stock Exchange for the 2016-2021 period. The method in this research is purposive sampling and the research object used is 45 samples. The results of this study are: company size, underwriter reputation, and company age have a positive and significant effect on the level of underpricing, while financial leverage and capital market conditions have no significant effect on the level of underpricing.Â
{"title":"Faktor-Faktor yang Mempengaruhi Tingkat Underpricing: Studi Empiris Perusahaan Keluarga IPO di BEI","authors":"Novellia Dwijaya, Hadi Cahyadi","doi":"10.24912/je.v26i11.783","DOIUrl":"https://doi.org/10.24912/je.v26i11.783","url":null,"abstract":"This study aims to examine and analyze whether there is a partial or simultaneous influence between firm size, underwriter reputation, firm age, financial leverage, and capital market conditions on the level of underpricing. The population in this study is a family company that has conducted an IPO and has been listed on the Indonesia Stock Exchange for the 2016-2021 period. The method in this research is purposive sampling and the research object used is 45 samples. The results of this study are: company size, underwriter reputation, and company age have a positive and significant effect on the level of underpricing, while financial leverage and capital market conditions have no significant effect on the level of underpricing. ","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"73 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77017996","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to find out empirically whether corporate governance, profitability, leverage, and liquidity have an influence on bond ratings on non-financial companies that issue bonds and are listed on the Indonesia Stock Exchange (IDX) in 2017-2019. The corporate governance proxies used are the size of the board of commissioners, independent commissioners, and audit committees. The data is used in the form of secondary data. The sample of this study was 78 data selected using non-probability sampling method and purposive sampling technique. This study was processed using the IBM Statistics SPSS version 28 program using ordinal logistic regression analysis. The results of this study indicate that board size, audit committee, and profitability have a significant positive effect on bond ratings. Leverage has a significant negative effect on bond ratings. Board independence and liquidity do not have a significant effect on bond ratings.
本研究旨在实证研究2017-2019年在印尼证券交易所(IDX)上市的发行债券的非金融公司的公司治理、盈利能力、杠杆率和流动性是否对债券评级产生影响。使用的公司治理代理是董事会、独立专员和审计委员会的规模。该数据以辅助数据的形式使用。本研究的样本为78份资料，采用非概率抽样方法和目的抽样技术。本研究采用IBM Statistics SPSS version 28程序，采用有序逻辑回归分析。研究结果表明，董事会规模、审计委员会和盈利能力对债券评级有显著的正向影响。杠杆对债券评级有显著的负向影响。董事会独立性和流动性对债券评级没有显著影响。
{"title":"Determinan Peringkat Obligasi pada Perusahaan Non Keuangan yang Terdaftar di BEI","authors":"Veliana, Susanto Salim","doi":"10.24912/je.v26i11.771","DOIUrl":"https://doi.org/10.24912/je.v26i11.771","url":null,"abstract":"This study aims to find out empirically whether corporate governance, profitability, leverage, and liquidity have an influence on bond ratings on non-financial companies that issue bonds and are listed on the Indonesia Stock Exchange (IDX) in 2017-2019. The corporate governance proxies used are the size of the board of commissioners, independent commissioners, and audit committees. The data is used in the form of secondary data. The sample of this study was 78 data selected using non-probability sampling method and purposive sampling technique. This study was processed using the IBM Statistics SPSS version 28 program using ordinal logistic regression analysis. The results of this study indicate that board size, audit committee, and profitability have a significant positive effect on bond ratings. Leverage has a significant negative effect on bond ratings. Board independence and liquidity do not have a significant effect on bond ratings.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"96 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78348419","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to determine the effect of company size, profitability (ROA), Liquidity, Net Profit Margin and Total Asset Turnover on the capital structure of food and beverage companies listed on the Indonesia Stock Exchange for the 2018-2020 research period. The population of the food and beverage sector is 30 companies. The sampling technique used in this research is the purposive sampling method. There are 18 registered food and beverage companies from 2018 to 2020 that meet the criteria to be sampled. The research data used was secondary data which was tested using E-views version 11. The data analysis method used was the multiple regression method. The results of this study indicate that firm size and total asset turnover have a positive effect on the capital structure. Liquidity has a significant negative effect on the capital structure, while profitability and net profit margins have no effect on the capital structure.
本研究旨在确定公司规模、盈利能力(ROA)、流动性、净利润率和总资产周期率对2018-2020年印尼证券交易所上市食品饮料公司资本结构的影响。食品和饮料行业的人口是30家公司。本研究采用的抽样技术是目的抽样法。从2018年到2020年，共有18家注册食品和饮料公司符合抽样标准。使用的研究数据为二手数据，使用E-views version 11进行测试。数据分析采用多元回归方法。研究结果表明，企业规模和总资产周转率对资本结构有正向影响。流动性对资本结构有显著的负向影响，而盈利能力和净利润率对资本结构没有影响。
{"title":"Analisis Faktor-Faktor Yang Mempengaruhi Struktur Modal Perusahaan Makanan dan Minuman","authors":"Kenny Sukardi, Augustpaosa Nariman","doi":"10.24912/je.v26i11.793","DOIUrl":"https://doi.org/10.24912/je.v26i11.793","url":null,"abstract":"This study aims to determine the effect of company size, profitability (ROA), Liquidity, Net Profit Margin and Total Asset Turnover on the capital structure of food and beverage companies listed on the Indonesia Stock Exchange for the 2018-2020 research period. The population of the food and beverage sector is 30 companies. The sampling technique used in this research is the purposive sampling method. There are 18 registered food and beverage companies from 2018 to 2020 that meet the criteria to be sampled. The research data used was secondary data which was tested using E-views version 11. The data analysis method used was the multiple regression method. The results of this study indicate that firm size and total asset turnover have a positive effect on the capital structure. Liquidity has a significant negative effect on the capital structure, while profitability and net profit margins have no effect on the capital structure.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"21 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87604272","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to examine the effect of profitability, firm size, liquidity, and sales growth to the level of debt on manufacturing companies listed on Indonesia Stock Exchange. The study period is from 2017 to 2019. The data collection method was carried out with purposive sampling and selected 35 companies. The samples obtained were analysed using panel data regression with fixed effect model as the best model amongst other panel data regression models. The research indicates that profitability and firm size have a negative significant effect on debt. Meanwhile, liquidity has a negative non-significant effect on debt. Lastly, sales growth has a positive non-significant effect on debt.
{"title":"Faktor-Faktor Yang Mempengaruhi Kebijakan Hutang Pada Perusahaan Manufaktur","authors":"Gabriella Stephanie, Viriany","doi":"10.24912/je.v26i11.769","DOIUrl":"https://doi.org/10.24912/je.v26i11.769","url":null,"abstract":"This study aims to examine the effect of profitability, firm size, liquidity, and sales growth to the level of debt on manufacturing companies listed on Indonesia Stock Exchange. The study period is from 2017 to 2019. The data collection method was carried out with purposive sampling and selected 35 companies. The samples obtained were analysed using panel data regression with fixed effect model as the best model amongst other panel data regression models. The research indicates that profitability and firm size have a negative significant effect on debt. Meanwhile, liquidity has a negative non-significant effect on debt. Lastly, sales growth has a positive non-significant effect on debt.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"289 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79416097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to determine the effect of the COVID-19 pandemic on company performance moderated by firm’s revenue and the difference between company's performance before and during the COVID-19 pandemic. The population of this study are consumer goods companies listed on the IDX in 2019-2020 and sample of 56 companies are obtained from the purposive sampling method. The year 2019 represents the period before the pandemic and the year 2020 represents the period of the pandemic. The company's performance is indicated by the profitability ratio in the form of Return On Assets. This study uses moderated regression analysis and the Wilcoxon sign rank test. The results of this study indicate that there is a negative and significant difference between the company's performance before and during the pandemic. The results of this study also show that the firm’s revenue isn’t moderating the effect of the COVID-19 pandemic on company performance.
{"title":"Dampak Pandemi COVID-19 terhadap Kinerja Perusahaan di Moderasi Pendapatan","authors":"Maria Jessica Junaidi, Susanto Salim","doi":"10.24912/je.v0i0.774","DOIUrl":"https://doi.org/10.24912/je.v0i0.774","url":null,"abstract":"This study aims to determine the effect of the COVID-19 pandemic on company performance moderated by firm’s revenue and the difference between company's performance before and during the COVID-19 pandemic. The population of this study are consumer goods companies listed on the IDX in 2019-2020 and sample of 56 companies are obtained from the purposive sampling method. The year 2019 represents the period before the pandemic and the year 2020 represents the period of the pandemic. The company's performance is indicated by the profitability ratio in the form of Return On Assets. This study uses moderated regression analysis and the Wilcoxon sign rank test. The results of this study indicate that there is a negative and significant difference between the company's performance before and during the pandemic. The results of this study also show that the firm’s revenue isn’t moderating the effect of the COVID-19 pandemic on company performance.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83456743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to determine the effect of COVID-19 pandemic and trading activities on stock market return in healthcare companies and transportation & logistic companies that was listed in Indonesia Stock Exchange during the research period. The study period from March 2, 2020 to December 31, 2020. The research finds that the best model used in predicting stock market returns is random effect model compared to other 2 selected models. Variables related to COVID-19 outbreak which are daily growth in confirmed cases and daily growth in death causes by COVID-19 were found not affect the stock market return significantly. However, this study found that trading activities described by trading volume and trading frequency variables during the research period had positive and significant effect to the stock market returns.
{"title":"Pengaruh Pandemi COVID-19 dan Trading Activities terhadap Return Saham","authors":"Kezia Dayu Prasasti, Widyasari","doi":"10.24912/je.v26i11.787","DOIUrl":"https://doi.org/10.24912/je.v26i11.787","url":null,"abstract":"This study aims to determine the effect of COVID-19 pandemic and trading activities on stock market return in healthcare companies and transportation & logistic companies that was listed in Indonesia Stock Exchange during the research period. The study period from March 2, 2020 to December 31, 2020. The research finds that the best model used in predicting stock market returns is random effect model compared to other 2 selected models. Variables related to COVID-19 outbreak which are daily growth in confirmed cases and daily growth in death causes by COVID-19 were found not affect the stock market return significantly. However, this study found that trading activities described by trading volume and trading frequency variables during the research period had positive and significant effect to the stock market returns.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"70 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89795168","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to examine the effect of COVID-19, exchange rate and Ramadan month effect on stock market returns in consumer goods industry firm listed on the Indonesia Stock Exchange (IDX) in 2020. The sampling method used in this study is purposive sampling with predetermined criteria. The result of this study shows that COVID-19 that is proxied by daily death case, exchange rate and Ramadan month effect have no effect on stock market returns. COVID-19 that is proxied by daily recovered case have positive effect on stock market returns.
{"title":"Pengaruh COVID-19, Nilai Kurs dan Efek Bulan Ramadan terhadap Pengembalian Pasar Saham","authors":"Cesilia Hong, Nurainun Bangun","doi":"10.24912/je.v0i0.789","DOIUrl":"https://doi.org/10.24912/je.v0i0.789","url":null,"abstract":"This study aims to examine the effect of COVID-19, exchange rate and Ramadan month effect on stock market returns in consumer goods industry firm listed on the Indonesia Stock Exchange (IDX) in 2020. The sampling method used in this study is purposive sampling with predetermined criteria. The result of this study shows that COVID-19 that is proxied by daily death case, exchange rate and Ramadan month effect have no effect on stock market returns. COVID-19 that is proxied by daily recovered case have positive effect on stock market returns.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91361111","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research aimed to analyze the factors affecting on earning growth of manufacturing companies which were listed on Indonesia Stock Exchange 2017-2019. This study uses four independent variables are Firm Size, Debt to Equity Ratio, Net Profit Margin, dan Total Asset Turnover. The total sample in this study was 14 companies which were determined through purposive sampling, with a total of 42 samples for three years. This study uses secondary data taken from the Indonesia Stock Exchange and uses the Eviews 12.0 data processing application. This study uses the results of statistical analysis test, classical assumption test, and multiple linear regression analysis test. The results of this study state that Firm Size, Net Profit Margin and Total Asset Turnover have no effect on the profit growth of manufacturing companies, while the Debt to Equity Ratio has a negative effect on the profit growth of manufacturing companies.
{"title":"Faktor-Faktor Yang Memengaruhi Pertumbuhan Laba Pada Perusahaan Manufaktur","authors":"Wanda Ribka Ivana, Tony Sudirgo","doi":"10.24912/je.v26i11.781","DOIUrl":"https://doi.org/10.24912/je.v26i11.781","url":null,"abstract":"This research aimed to analyze the factors affecting on earning growth of manufacturing companies which were listed on Indonesia Stock Exchange 2017-2019. This study uses four independent variables are Firm Size, Debt to Equity Ratio, Net Profit Margin, dan Total Asset Turnover. The total sample in this study was 14 companies which were determined through purposive sampling, with a total of 42 samples for three years. This study uses secondary data taken from the Indonesia Stock Exchange and uses the Eviews 12.0 data processing application. This study uses the results of statistical analysis test, classical assumption test, and multiple linear regression analysis test. The results of this study state that Firm Size, Net Profit Margin and Total Asset Turnover have no effect on the profit growth of manufacturing companies, while the Debt to Equity Ratio has a negative effect on the profit growth of manufacturing companies.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89640994","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study is conducted to find the influence of profitability and company growth on firm value with capital structure as moderating variable in manufacturing companies listed on the Indonesia Stock Exchange during 2017-2020. The sampling method of this study is purposive sampling to obtains 33 manufacturing companies and 132 sample data. Analysis techniques used in this study are multiple linear regression and moderated regression analysis (MRA). This study used Eviews 12.0 to analyze panel data of this study. The results showed that profitability has a significant positive effect on firm value, but the company growth did not significantly affected the firm value, while capital structure as moderating variable is does not able to moderate profitability and company growth effect on firm value.
{"title":"Faktor-Faktor Yang Memengaruhi Nilai Perusahaan Dengan Struktur Modal Sebagai Variabel Moderasi","authors":"Tiffany Wijaya, Viriany","doi":"10.24912/je.v26i11.784","DOIUrl":"https://doi.org/10.24912/je.v26i11.784","url":null,"abstract":"This study is conducted to find the influence of profitability and company growth on firm value with capital structure as moderating variable in manufacturing companies listed on the Indonesia Stock Exchange during 2017-2020. The sampling method of this study is purposive sampling to obtains 33 manufacturing companies and 132 sample data. Analysis techniques used in this study are multiple linear regression and moderated regression analysis (MRA). This study used Eviews 12.0 to analyze panel data of this study. The results showed that profitability has a significant positive effect on firm value, but the company growth did not significantly affected the firm value, while capital structure as moderating variable is does not able to moderate profitability and company growth effect on firm value.","PeriodicalId":31623,"journal":{"name":"Islamiconomic Jurnal Ekonomi Islam","volume":"74 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90434469","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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