Jurnal Riset Ekonomi dan Bisnis最新文献

{"title":"Nexus free cash flow dan kebijakan dividen","authors":"Pambayun Kinasih Yekti Nastiti","doi":"10.26623/jreb.v15i3.5896","DOIUrl":"https://doi.org/10.26623/jreb.v15i3.5896","url":null,"abstract":"Kebijakan dividen dan determinannya tetap menjadi isu kontroversial dalam literatur keuangan. Tujuan studi ini untuk menguji pengaruh langsung free cash flow terhadap dividen dan pengaruh tidak langsung free cash flow terhadap dividen melalui pertumbuhan perusahaan dan leverage. Sampel studi ini adalah 32 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2016-2020. Analisis data  memanfaatkan regresi data panel fixed effect robustness dengan  melibatkan 160 obeservasi. Hasil penelitian menunjukkan bahwa free cash flow terbukti secara signifikan berpengaruh positif terhadap dividen. Lebih lanjut, penelitian ini mampu membuktikan adanya pengaruh free cash flow terhadap leverage yang kemudian dilanjutkan dengan leverage berimplikasi pada pembayaran dividen perusahaan. Namun, pertumbuhan perusahaan tidak terbukti dipengaruhi free cash flow dan juga tidak mempengaruhi dividen sehingga tidak mampu berperan memediasi pengaruh free cash flow terhadap dividen.    Penelitian ini secara akademis berkontribusi dalam mengintegrasikan variabel-variabel kunci determinan kebijakan dividen yang selama ini hanya diteliti secara terpisah. Sementara secara praktis, studi ini menyarankan bahwa bagi investor yang berorentasi pada dividen hendaknya mempertimbangkan  ketersedian free cash flow dan ratio hutang perusahaan.Dividend policy and its determinants remain a controversial issue in the financial literature. This study aims to examine the direct effect of free cash flow on dividends and the indirect impact of free cash flow on dividends through firm growth and leverage. The sample of this study is 32 manufacturing firms listed on the Indonesia Stock Exchange during the 2016-2020 period. The data analysis employs fixed effect robustness panel data regression involving 160 observations.  The results study showed that the free cash flow significantly positive affects dividends. Furthermore, this study can prove the effect of free cash flow on leverage and then leverage impacts on company’s dividend payments. However, the firm's growth was not proven to be influenced by free cash flow and also did not affect dividends so it was not able to play a role in mediating the effect of free cash flow on dividends. This research academically contributes to integrating the key determinants of dividend policy, which have only been studied separately so far. Practically, this study suggests that dividend-oriented investors should consider the availability of free cash flow and the firm's debt ratio.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":"65 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41246418","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}

{"title":"Influence of change management on modern organizational efficiency","authors":"U. C. Okolie, Ndubuisi Jude Memeh","doi":"10.26623/jreb.v15i3.5352","DOIUrl":"https://doi.org/10.26623/jreb.v15i3.5352","url":null,"abstract":"In today's businesses, change is inevitable; hence it is crucial to research how change management and change variables impact organizational performance. This study's main objective is to examine change management and how it affects contemporary organizational effectiveness. A qualitative research method was used in this study, the primary source of information on the subject under consideration was previously published literature and contextual analysis was employed. The dynamics of change management and how it may be used to boost contemporary organizational effectiveness were examined in this study. The study also considered the function and actions of change-facilitating leaders. The study concludes that if certain conditions existed in organizations such as a strategic plan for implementing change, communication of change plans for employee buy-in, strategic change agents, implementation costs and maintenance of change tools, among others, change management would be successful. This study makes several recommendations, one of which is that organizations should convey the necessity of change because majority of people see change as disturbing and harmful. People tend to resist change if they don't have a feeling of urgency. Making existing conditions seem more needless than the desired changes is important to encourage an organization's acceptance of change.Perubahan tidak dapat dihindari; maka masih perlu dilakukan penelitian mengenai bagaimana manajemen perubahan dan variabel perubahan berdampak pada kinerja organisasi. Tujuan utama studi ini adalah untuk menguji manajemen perubahan dan bagaimana pengaruhnya terhadap efektivitas organisasi kontemporer. Penelitian kualitatif digunakan dengan sumber informasi utama adalah literatur yang diterbitkan sebelumnya dan analisis kontekstual. Dinamika manajemen perubahan diharapkan dapat meningkatkan efektivitas organisasi kontemporer diperiksa dalam penelitian ini. Studi ini mempertimbangkan fungsi dan tindakan pemimpin yang memfasilitasi perubahan. Diperoleh kesimpulan jika dalam organisasi terdapat rencana strategis untuk mengimplementasikan perubahan, komunikasi rencana perubahan untuk pembelian karyawan, agen perubahan strategis, biaya implementasi dan pemeliharaan alat perubahan, antara lain, manajemen perubahan akan berhasil. Kajian ini memberikan beberapa rekomendasi, salah satunya organisasi harus menyampaikan perlunya perubahan karena mayoritas orang melihat perubahan sebagai hal yang mengganggu dan merugikan. Orang cenderung menolak perubahan jika mereka tidak memiliki perasaan mendesak. Menciptakan kondisi tampak lebih tidak diperlukan daripada perubahan yang diinginkan adalah penting untuk mendorong penerimaan organisasi terhadap perubahan.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46266749","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}

{"title":"Pengaruh likuiditas dan kebijakan utang terhadap nilai perusahaan yang dimediasi kinerja perusahaan","authors":"T. Sari, RR. Dian Indriana Tri Lestari","doi":"10.26623/jreb.v15i3.5294","DOIUrl":"https://doi.org/10.26623/jreb.v15i3.5294","url":null,"abstract":"Penelitian ini bertujuan untuk mengetahui pengaruh likuiditas dan kebijakan hutang terhadap nilai perusahaan dengan kinerja perusahaan sebagai variabel intervening. Obyek penelitian terdiri dari 24 perusahaan sektor property dan real estate yang terdaftar di Bursa Efek Indonesia tahun 2016-2020 dengan jumlah sampel 98 secara purposive sampling. Teknik analisis yang digunakan adalah analisis jalur dengan regresi dan dilakukan uji asumsi klasik terlebih dahulu.Pengujian variabel intervening digunakan strategi causal step dan tes sobel. Hasil analisis data menyimpulkan bahwa likuiditas yang diproksikan CR tidak signfikan, baik terhadap kinerja perusahaan maupun nilai perusahaan. Namun, berbeda dengan faktor kebijakan hutang yang diproksikan DER justru berpengaruh signfikan, baik terhadap kinerja perusahaan maupun nilai perusahaan. Sedangkan, kinerja perusahaan yang diproksikan ROA berpengaruh signifikan terhadap nilai perusahaan. Berdasarkan pada tes sobel diperoleh hasil bahwa kinerja perusahaan tidak dapat memediasi, baik hubungan likuiditas dengan nilai perusahaan maupun hubungan kebijakan hutang dengan nilai perusahaan.This study aims to determine the effect of liquidity and debt policy on firm value with firm performance as an intervening variable. The research object consists of 24 property and real estate sector companies listed on the Indonesia Stock Exchange in 2016-2020 with a total sample of 98 by purposive sampling. The analytical technique used is path analysis with regression and the classical assumption test is performed first. Testing the intervening variables used the causal step strategy and the Sobel test. The results of data analysis conclude that the liquidity proxied by CR is not significant, both on company performance and company value. However, in contrast to the debt policy factor that is proxied by DER, it has a significant effect, both on company performance and company value. Meanwhile, the company's performance as proxied by ROA has a significant effect on firm value. Based on the Sobel test, the results show that the company's performance cannot mediate, both the relationship between liquidity and firm value and the relationship between debt policy and firm value.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44718099","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}

{"title":"Faktor-faktor yang mempengaruhi profitabilitas bank: Studi kasus bank yang terdaftar di BEI","authors":"Hananta Awang Budiman, H. Hersugondo","doi":"10.26623/jreb.v15i2.5048","DOIUrl":"https://doi.org/10.26623/jreb.v15i2.5048","url":null,"abstract":"Sebagai negara dengan perekonomian berbasis bank, stabilitas industri perbankannya menjadi hal yang sangat penting bagi Indonesia. Penentuan faktor apa yang mempengaruhi profitabilitas bank belum dapat dipastikan, oleh karena itu penelitian ini dilakukan.  Penelitian ini bertujuan untuk melihat dampak determinan internal bank dan determinan makroekonomi pada indikator profitabilitas yaitu return on asset (ROA) dan rasio net interest margin (RNIM). Penelitian ini berfokus pada pengaruh determinan internal bank (Liquidity, Leverage, CAR, dan NPL) dan faktor makroekonomi (PDB, Inflasi, dan BI Rate). Yang membedakan penelitian ini dengan sejenis adalah pada penelitian ini ingin melihat variabel fundamenl atau makroekonomi yang lebih mempengaruhi profitabilitas bank. Sampel penelitian mencakup bank-bank Indonesia terpilih dan analisis empiris mencakup periode 2015-2019.  Dengan menggunakan metode Pooled Least Square (PLS) untuk memperkirakan model profitabilitas, dengan (ROA) dan RNIM sebagai variabel dependen. Hasilnya menunjukkan pengaruh positif Liquidity, Capital Adequacy Ratio (CAR), dan Inflasi terhadap ROA dan RNIM. Kemudian, Leverage berpengaruh positif hanya pada ROA, dan Non-Performing Loan (NPL) berpengaruh negatif hanya terhadap ROA.As a country with a bank-based economy, the banking industry is very important for Indonesia. Determining what factors affect bank profitability cannot be ascertained, therefore this research was conducted. This study aims to examine the impact of bank internal determinants and macroeconomic determinants on profitability indicators, namely return on assets (ROA) and net interest margin ratio (RNIM). This study focuses on the influence of the bank's internal determinants (Liquidity, Leverage, CAR, and NPL) and macroeconomic factors (GDP, Inflation, and BI Rate). What distinguishes this research from other types of research is that this research wants to see the fundamental or macroeconomic variables that influence bank profitability more. The research sample includes selected Indonesian banks, and the empirical analysis covers the 2015-2019 period. By using the Pooled Least Square (PLS) method to estimate the profitability model, with (ROA) and RNIM as dependent variables. The results show the positive effect of Liquidity, Capital Adequacy Ratio (CAR), and Inflation on ROA and RNIM. Then, Leverage only has a positive effect on ROA, and Non-Performing Loans (NPL) only has a negative effect on ROA.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42389769","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}

{"title":"Perceived organizational support, employee work engagement and work life balance: Social exchange theory perspective","authors":"E. Sulistiyani, Y. Hidayat, A. Setiawan, S. Suwardi","doi":"10.26623/jreb.v15i2.5336","DOIUrl":"https://doi.org/10.26623/jreb.v15i2.5336","url":null,"abstract":"This study aimed to determine the effect of the Employee Work Engagement variable as a mediating variable between Perceived Organizational Support and Work-Life Balance. This type of quantitative descriptive research with Structural Equation Modeling as a data processing approach. The sampling technique is purposive sampling. They collected data by distributing questionnaires to 200 security unit employees working at State and Private Universities in Semarang City. The results showed a significant positive effect between the variables perceived organisational support, employee work engagement and work-life balance. The significant positive effect of the relationship between the three variables indicates that the employee work engagement variable can mediate the relationship between Perceived Organizational Support and Work-Life Balance. The triadic process between organisational support, work involvement and work-life balance is an implementation of social exchange theory. Employees give their time, energy, thoughts and enthusiasm for the organisation's benefit. Organisations provide remuneration in the form of compensation and welfare for the persistence of employee work for the advancement of the organisation. It gives a sense of satisfaction and happiness and can be used for yourself and your family. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh variabel Employee Work Engagement sebagai variabel mediasi antara Perceived Organizational Support dan Work-life Balance. Jenis penelitian deskriptif kuantitatif dengan Structural Equation Modeling sebagai pendekatan pengolahan data. Teknik pengambilan sampel adalah purposive sampling. Metode pengumpulan data dengan menyebarkan kuesioner kepada 200 pegawai satpam yang bekerja di Perguruan Tinggi Negeri dan Swasta di Kota Semarang. Hasil menunjukkan ada pengaruh positif signifikan antara variabel persepsi dukungan organisasi, employee work engagement dan work-life balance. Pengaruh positif signifikan pada hubungan ketiga variabel tersebut menunjukkan bahwa variabel employee work engagement mampu memediasi hubungan Perceived Organizational Support dan Work-life Balance. Proses triadik antara dukungan organisasi, keterlibatan kerja dan keseimbangan kehidupan kerja merupakan implementasi dari teori pertukaran sosial. Karyawan memberikan waktu, tenaga, pikiran dan semangat untuk kepentingan organisasi. Organisasi memberikan remunerasi berupa kompensasi dan kesejahteraan pada karyawan serta memberikan rasa kepuasan dan kebahagiaan yang dapat digunakan untuk diri sendiri dan keluarga.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47894808","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}

{"title":"Peran Iklim Organisasi, Kepemimpinan Transformational, Knowledge sharing dan Employee Engagement Bagi Peningkatan Perilaku Kerja Inovatif","authors":"D. Santoso, D. Nugraheni","doi":"10.26623/jreb.v15i2.5298","DOIUrl":"https://doi.org/10.26623/jreb.v15i2.5298","url":null,"abstract":"Penelitian ini bertujuan untuk menguji pengaruh iklim organisasi, kepemimpinan transformasional, knowledge sharing terhadap perilaku kerja inovatif dengan employee engagement sebagai variabel intervening. Jumlah sampel sebanyak 114 pemeriksa BPK Perwakilan Provinsi Jawa Tengah yang ditentukan dengan metode proporsional random sampling. Metode  pengumpulan  data  dalam  penelitian  ini  mengunakan kuesioner.Metode  analisis  data  yang  digunakan  dalam  penelitian  ini  adalah regresi linier berganda dan analisis jalur.Hasil dari penelitian ini menunjukkan bahwa knowledge sharing dan employee engagement berpengaruh signifikan terhadap perilaku kerja inovatif. Sedangkan iklim organisasi dan kepemimpinan transformasional tidak berpengaruh signifikan terhadap perilaku kerja inovatif. Iklim organisasi dan knowledge sharing berpengaruh signifikan terhadap employee engagement. Kepemimpinan transformasional tidak berpengaruh signifikan terhadap employee engagement. The purpose of this research is to study the influence of the organization climate, transformational leadership, knowledge sharing to the innovative work behavior with employee engagement as intervening variable. The number of respondent is 114 auditor at The Audit Board of The Republic of Indonesia, Regional Office in Central Java Province determinated through proporsional random sampling method. The data collection method in this study used a questionnaire. The data analysis method used in this research is multiple linear regression and path analysis. This result from this research indicates that knowledge sharing and employee engagement influential significantly to the innovative work behavior. While it was found that the organization climate and transformational leadership not significantly to innovative behavior The organization climate and knowledge sharing influential significantly to the employee engagement. Transformational leadership has not significantly to employee engagement.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44270038","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}

{"title":"Effect Of Firm Size, Debt Equity Ratio and Current Ratio to Return on Asset (Study on Hotel, Restaurant and Tourism Companies Listed on IDX)","authors":"Adhi Widyakto, M. Taruna, Fredericho Mego Sundoro","doi":"10.26623/jreb.v15i2.4834","DOIUrl":"https://doi.org/10.26623/jreb.v15i2.4834","url":null,"abstract":"This research aims to find out the influence of Firm Size, Debt Equity Ratio (DER), and Current Ratio (CR) on Return on Assets (ROA) on hotel, restaurant and tourism companies listed on Indonesia Stock Exchange (IDX). Research on profitability in companies engaged in the tourism sector is necessary because currently, the sector has a high opportunity to move the community's economy. This research will reveal variations in the role of company size, solvability, and liquidity to profitability in the tourism sector. The sample used in this study amounted to 10 of the 48 Hotel, Restaurant, and Tourism sub-sector companies listed on the IDX in the period 2018-2020. The selection of such samples using purposive sampling techniques, in which researchers set specific provisions tailored to the purpose of the study. The data analysis techniques used are multiple linear regression, classical assumption test, t-test, F test and coefficient of determination. Based on simultaneous tests, it was found that the variables Firm Size, Debt Equity Ratio (DER), and Current Ratio (CR) significantly affect the return on asset (ROA) in hotel, restaurant and tourism sub-sectors listed on the IDX. Penelitian ini bertujuan untuk mengetahui pengaruh Ukuran Perusahaan, Debt Equity Ratio (DER), Current Ratio (CR) terhadap Return on Assets (ROA) pada perusahaan hotel, restoran dan pariwisata yang terdaftar di Bursa Efek Indonesia (BEI). Penelitian tentang profitabilitas pada perusahaan yang bergerak disektor pariwisata sangat perlu dilakukan. Sektor ini memiliki peluang tinggi dalam menggerakkan perekonomian masyarakat. Penelitian ini akan mengungkap variasi peran ukuran perusahaan, sovabilitas, dan likuiditas terhadap profitabilitas dalam sector pariwisata. Sampel yang digunakan dalam penelitian ini berjumlah 10 dari 48 perusahaan subsektor Hotel, Restoran, dan Pariwisata yang terdaftar di BEI periode 2018-2020. Pemilihan sampel tersebut menggunakan teknik purposive sampling, dimana peneliti menetapkan ketentuan tertentu yang disesuaikan dengan tujuan penelitian. Teknik analisis data yang digunakan adalah regresi linier berganda, uji asumsi klasik, uji t, uji F dan koefisien determinasi. Berdasarkan pengujian simultan ditemukan bahwa variabel Firm Size, Debt Equity Ratio (DER), Current Ratio (CR) berpengaruh signifikan terhadap return on asset (ROA) pada subsektor hotel, restoran dan pariwisata yang terdaftar di BEI.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42547204","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}

{"title":"Analisis pengaruh makroekonomi, indeks saham global, harga emas dunia dan harga minyak dunia terhadap Indeks Harga Saham Gabungan (IHSG)","authors":"Surya Darmawan, Muhammad Shani Saiful Haq","doi":"10.26623/jreb.v15i2.4381","DOIUrl":"https://doi.org/10.26623/jreb.v15i2.4381","url":null,"abstract":"<p><span lang=\"EN-US\">Tujuan dari penelitian ini adalah untuk menganalisis </span><span lang=\"IN\">bagaimana hubungan</span><span lang=\"EN-US\"> jangka pendek dan jangka panjang Makroekonomi, Indeks Saham Global, Harga Emas Dunia, dan Harga Minyak Dunia terhadap Indeks Harga Saham Gabungan (IHSG) selama periode </span><span lang=\"IN\">Januari</span><span lang=\"EN-US\"> 2010</span><span lang=\"IN\"> hingga Desember </span><span lang=\"EN-US\">2019 menggunakan data bulanan.</span><span lang=\"IN\"> Dalam penelitian terdahulu, masih adanya inkonsistensi dalam hasil penelitian membuat penelitian ini harus dilakukan.</span><span lang=\"EN-US\"> Analisis yang digunakan dalam penelitian ini adalah model <em>Autoregressive Distribute-Lag</em> (ARDL). </span><span lang=\"IN\">Model ARDL berbeda dengan <em>Eror Correction Model</em> (ECM) dimana dalam model ARDL kita tidak mempermasalahkan perbedaan tingkat stasioneritas. Kesimpulan dari hasil penelitian  </span><span lang=\"EN-US\">menunjukkan bahwa dalam jangka pendek </span><span lang=\"IN\">Inflasi, Nilai tukar Rupiah terhadap <em>Dollar</em>, dan Harga Minyak Dunia berpengaruh negatif terhadap IHSG. Sedangkan Indeks <em>Nikkei</em> 225, Indeks SSE, dan Harga Emas Dunia berpengaruh positif terhadap IHSG. Dalam jangka panjang Inflasi, Nilai Tukar Rupiah terhadap <em>Dollar</em>, Indeks SSE, dan Harga Minyak Dunia berpengaruh negatif terhadap IHSG. Sedangkan Indeks <em>Nikkei</em> 225 berpengaruh positif dan Harga emas dunia tidak berpengaruh terhadap IHSG.</span></p><p><span lang=\"IN\"><br /></span></p><p><span lang=\"IN\"><em><span lang=\"EN-US\">The purpose of this study is to analyze the short-term and long-term relationship of Macroeconomics, Global Stock Index, World Gold Prices, and World Oil Prices to the Jakarta Composite Index (JCI) during the period January 2010 to December 2019 using monthly data. In previous research, there are still inconsistencies in the research results, making this research must be done. The analysis used in this study is the Autoregressive Distribute-Lag (ARDL) model. The ARDL model is different from the Error Correction Model (ECM) where in the ARDL model we don't care about the different levels of stationarity. The conclusion of the research shows that in the short-term inflation, the exchange rate of the rupiah against the dollar, and world oil prices have a negative effect on the JCI. Meanwhile, the Nikkei 225 Index, the SSE Index, and the World Gold Price have a positive effect on the JCI. In the longterm Inflation, the Exchange Rate of the Rupiah against the Dollar, the SSE Index, and World Oil Prices have a negative effect on the JCI. While the Nikkei 225 index has a positive effect and the world gold price does not have effect on the JCI.</span></em></span></p>","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47594531","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}

{"title":"Pengaruh penerapan standar operasional prosedur dan GeoKKP terhadap kinerja pegawai dengan motivasi kerja sebagai variabel moderator","authors":"Helwinda Tri Ardiansyach, Kesi Widjajanti, Endang Rusdianti","doi":"10.26623/jreb.v15i2.4163","DOIUrl":"https://doi.org/10.26623/jreb.v15i2.4163","url":null,"abstract":"Tujuan dari penelitian ini adalah untuk mengetahui pengaruh penerapan Standar Operasional Prosedur (SOP) dan penggunaan sistem informasi (GeoKKP) terhadap kinerja pegawai dengan motivasi kerja sebagai variabel moderator di bagian pelayanan pengukuran Kantor Pertanahan Kota Semarang. Penelitian ini merupakan penelitian kuantitatif dengan metode eksplanatori untuk menjelaskan hubungan dan pengaruh antar variabel. Variabel bebas pada penelitian ini adalah penerapan SOP dan penggunaan sistem informasi, variabel terikat adalah kinerja pegawai, dan variabel moderator adalah motivasi kerja. Data penelitian ini menggunakan data primer dengan metode pengumpulan data menggunakan kuesioner. Kuesioner disebarkan kepada seluruh pegawai bagian pengukuran yaitu Seksi Survei dan Pemetaan dengan jumlah 44 orang. Pengujian hipotesis menggunakan metode Structural Equation Model (SEM) dengan bantuan perangkat lunak SmartPLS. Hasil penelitian ini membuktikan bahwa penerapan SOP berpengaruh signifikan terhadap kinerja pegawai, sedangkan penggunaan sistem informasi tidak berpengaruh signifikan terhadap kinerja pegawai. Hasil lain yang didapatkan yaitu motivasi kerja tidak dapat memoderasi pengaruh penerapan SOP dan penggunaan sistem informasi terhadap kinerja pegawai bagian pelayanan pengukuran Kantor Pertanahan Kota Semarang.This study aimed to determine the effect of the application of Standard Operating Procedures (SOP) and the use of information systems (GeoKKP) on employee performance with work motivation as a moderator variable in the measurement service section of the Semarang City Land Office. The study is quantitative research with an explanatory method to explain the relationship and influence between variables. The independent variable in this study is the application of SOPs and the use of information systems, the dependent variable is employee performance, and the moderator variable is work motivation. The data of this study used primary data with the data collection method using a questionnaire. Questionnaires were distributed to all employees of the measurement division, namely the Survey and Mapping Section, with a total of 44 people. Hypothesis testing using the Structural Equation Model (SEM) method with the help of SmartPLS software. The results of this study prove that the application of SOPs has a significant effect on employee performance. In contrast, using information systems has no significant effect on employee performance. Another result obtained is that work motivation cannot moderate the effect of implementing SOPs and the use of information systems on the performance of employees in the measurement service section of the Semarang City Land Office.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45555455","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}

{"title":"Pengaruh Struktur Modal Terhadap Return Saham Melalui Manajemen Risiko dan Total Efisiensi Manajemen","authors":"Auliyana Yanuar Annisa, Supramono Supramono, I. Indarto","doi":"10.26623/jreb.v15i1.4107","DOIUrl":"https://doi.org/10.26623/jreb.v15i1.4107","url":null,"abstract":"This research aims to analyze the effect of Capital Structure on Stock Return with Risk Management and Total Management Efficiency as Intervening Variables so that it aims to determine the factors influencing Stock Return that investors need to pay attention to in determining their investment decisions. The population used in this study are banking companies listed on the Indonesia Stock Exchange which are included in the Infobank15 index for the period July-December 2019. The sampling technique used is purposive sampling. The analytical tool used is SPSS Version 25. The results of this research indicate that the Stock Return is only able to be significantly influenced by Total Management Efficiency. The Capital Structure is not able to significantly influence Risk Management, but is able to significantly influence Total Management Efficiency. The intervening variables of Risk Management and Total Management Efficiency are both unable to mediate the relationship between Capital Structure and Stock Return.Penelitian ini bertujuan untuk menganalisis pengaruh Struktur Modal terhadap Return Saham dengan Manajemen Risiko dan Total Efisiensi Manajemen sebagai Intervening Variable sehingga bertujuan untuk mengetahui faktor-faktor pengaruh Return Saham yang perlu diperhatikan investor untuk menentukan keputusan investasinya. Populasi yang digunakan dalam penelitian ini adalah perusahaan perbankan yang terdaftar di Bursa Efek Indonesia yang termasuk dalam indeks Infobank15 periode Juli-Desember 2019. Teknik pengambilan sampel yang digunakan yaitu purposive sampling. Alat analisis yang digunakan adalah SPSS Versi 25. Hasil dari penelitian ini menunjukkan bahwa Return Saham hanya mampu dipengaruhi secara signifikan oleh Total Efisiensi Manajemen. Struktur Modal tidak mampu mempengaruhi secara signifikan terhadap Manajemen Risiko, tetapi mampu mempengaruhi secara signifikan terhadap Total Efisensi Manajemen. Variabel intervening Manajemen Risiko dan Total Efisiensi Manajemen keduanya tidak mampu memediasi hubungan antara Struktur Modal dan Return Saham.","PeriodicalId":31922,"journal":{"name":"Jurnal Riset Ekonomi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44253481","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}