Exchange Period Research Articles

The Influence of Financial Technology (Fintech) on the Financial Performance of Islamic Banking (Study on Islamic Banking listed on the Indonesia Stock Exchange Period 2016-2020)

The rapid technology development in Indonesia has an impact on the existence of various technological innovations, one of them is the financial sector. Financial technology is a technological innovation in the financial sector. The existence of financial technology is expected to be able to improve the performance of financial institutions so they can provide services to their customers more efficiently. This study aims to determine the influence of mobile banking, internet banking, and SMS banking on the financial performance of Islamic banking projected with Return on Assets (ROA). This study uses data in the form of annual financial statements of Islamic Banks listed on the Indonesia Stock Exchange in the period 2016-2020. This study sample was selected using purposive sampling techniques so as to obtain samples of Bank Aladin Syariah (Bank Maybank Syariah), Bank BNI Syariah, Bank BTPN Syariah, Bank BRI Syariah, Bank Mandiri Syariah, and Bank Panin Dubai Syariah. The study used regression analysis of panel data with EVIEWS 10 software. The results of this study show that mobile banking has a positive and significant influence on the financial performance of Islamic banking. While internet banking and SMS banking have a negative and insignificant influence on the financial performance of Islamic banking.

Analisis Faktor - Faktor yang Mempengaruhi Pertumbuhan Laba pada Industri Sub Sektor Makanan Dan Minuman di Bursa Efek Indonesia Periode 2015-2020

This research aims, to analyze the factors assessed from Working Capital to Total Asset, Current Liabilities to Inventory, Operating Income to Total Liabilities, Total Assets Turnover, Net Profit Margin and Gros Profit Margin simultaneously or partial influence profit growth in the sub industry food and beverage on the Indonesia Stock Exchange for the period 2015-2020. The research methodology is descriptive and quantitative analysis methods. Data used is secondary data. The population become object in this research is the sub industry food and beverage on the Indonesia Stock Exchange period 2015-2020. Amount sample the used is three industry company and still stand up during period of perception and also publicized of year of 2015-2020 by Indonesian Stock Exchange the analysis multiple regression, hypotesis test so determinant coefficient F test and t test. The object of this research is food and beverage sub-sector industries during the period 2015 - 2020 consisting of 18 (eighteen) issuers. With respect to the method of sample withdrawal based on purposive sample and data limitations during the observation period, then that can be used as a sample in this study there are 9 (Nine) issuers. The sample consisted of PT Wilmar Cahaya Indonesia,Tbk (CEKA), PT Delta Djakarta,Tbk (DLTA), PT Indofood Sukses Makmur,Tbk (INDF), PT Nippon Indosari Corpindo,Tbk (ROTI), PT Sekar Laut,Tbk (SKLT), PT Ultra Jaya Milk Industri &Trading,Tbk (ULTJ), PT Moyora Indah,Tbk (MYOR), PT Akasha Wira International, Tbk (ADES), PT Multi Bintang Indonesia, Tbk (MLBI) Research results model of regression equation is Y = 0,374 + 0,907 X1 + 0,179 X2 - 0,165 X3 + 0,258 X4 + 0,455 X5 + 0,074 X6 + e. F test result, it is known that idependent variabel simultaneously significant effect on profit growth. Fcount larger than Ftable (6,580 > 2,30) or comparing the significant level of 0.05 then (0.000 < 0.05) then Ho is rejected and Ha accepted. From the results t test on independent variabel is working capital to total asset and net profit margin in partial effect to profit growt to the value of tcount > ttable. Conclusion is inflation, independent variabel simultaneousl significant effect on profit growth.. While partially working capital to total asset and net profit margin in partial effect to profit growth

Pengaruh Capital Adequacy Ratio, Biaya Operasional Pendapatan Operasional, Return On Equity Dan Non Performing Loan terhadap Harga Sahamsub Sektor Perbankan yang masuk pada LQ-45 di Bursa Efek IndonesiaPeriode 2016 – 2020

This research aims to analyze fistly, how to analyze how the simultaneous influence of Capital Adequasi Ratio, Operating Expenses of Operating Income, Return on Equity and Non Performing Loan on Stock Prices on banks entered on the LQ-45 index during 2016 - 2020 . Secondly, how to analyze how the partially influence of Capital Adequasi Ratio, Operating Expenses of Operating Income, Return on Equity and Non Performing Loan on Stock Prices on banks entered on the LQ-45 index during 2016 – 2020. The research methodology is descriptive and quantitative analysis methods. Data used is secondary data. The population become object in this research is banking industry on Indonesia Stock Exchange period 2016 - 2020. Amount sample the used is the 5 (five) industry company and still stand up during period of perception and also publicized of year of 2016 - 2020 by Indonesian Stock Exchange. And the analysis multiple regression, hypotesis test so determinant coefficient F test and t test. The object of this research is banking industry on Indonesia Stock Exchange period 2016-2020. Sample of object is PT Bank Mandiri (Persero),Tbk (BMRI), PT Bank Negara Indonesia (Persero),Tbk (BBNI), PT Bank Rakyat Indonesia (Persero),Tbk (BBRI), PT Bank Tabungan Negara(Persero),Tbk (BBTN), PT Bank Central Asia,Tbk (BBCA). F test result, it is known that variabels Capital Adequasi Ratio, Operating Expenses of Operating Income, Return on Equity and Non Performing Loan simultaneously and significant effect on stock prices. Fcount bigger than Ftable (12.764 > 2.71) or comparing the not significant level of 0.05 then (0.000 < 0.05) then Ho is accepted and Ha rejected. Then multiple regression equations are Y = 1,145 + 4,123X1 - 0,013X2 - 1,178X3 - 1,721X4 + e. Based on the results of the t test, return on equity and non performing loan have significant effect on stock prices. Conclusion is the independent variable simultaneously have and significant effect on sotck prices and partially return on equity and non performing loan have significant effect on stock prices

THE EFFECT OF FIRM SIZE, PROFITABILITY AND PUBLIC OWNERSHIP STRUCTURE ON INCOME SMOOTHING AFTER THE IMPLICATION OF PSAK 50 AND 55

PSAK 50 & 55 (revised) is important for the banking sector, as it aims to increase transparency, reducing disclosure that only benefit for banking managerial and narrow down the possibilities of fraud. Income smoothing is one form of fraud that management is often done to maximize the benefits for themselves, so that make any investor  incorrect  in making  decisions  for  their  investment. This  study  is  a verification to test the truth of knowledge and previous research on banking companies listed on the IDX. This study takes the title: "The Effect of Firm Size, Profitability and Public Ownership Structure On Income Smoothing After The Implementation Of PSAK 50 & 55" (Case Study on Banking Companies Listed on the Indonesia Stock Exchange Period 2010-2014). The population in this study are all banking companies listed on IDX in 2010-2014. This study used 25 banking companies as samples obtained through purposive sampling   method. Discretionary   Accrual by Modified   Jones used   to   determine income  smoothing  practice. Multiple  Linear  Regression method  used  to  test  the effect of independent variables and the dependent variable in this study. The results of the study provides empirical evidence as follows, first, firm size has no effect on income smoothing practice. Second, return on assets has no effect on  income  smoothing  practice. Third, operating  profit  margin  has  no  effect  on income  smoothing  practice. Fourth, earnings  per  share negatively  affect  income smoothing  practice. Fifth,  public  ownership  structure  positively  affect  income smoothing practice. The findings of this study have implications for investors to be more cautious on earnings per share and public ownership structure in the decision to invest, because both of these factors have an influence on income smoothing practice.

ANALISIS PENGARUH PENGADOPSIAN IFRS, KARAKTERISTIK PERUSAHAAN, DAN KEPEMILIKAN BLOCKHOLDER TERHADAP MANAJEMEN LABA

The aims of this research are to determine the effect of IFRS Adoption, Firm Size, Leverage and Blockholder Ownership to Earnings Management. The research conducted on manufacturing companies listed on the Indonesia Stock Exchange (BEI) period of 2012-2015. Sample of this research consist of 64 companies using purposive sampling method. Earnings Management is proxied with discretionary accruals and measured using a modified jones model. IFRS Adoption measured by Dummy Variables. Firm Size measured by logarithm base ten. Leverage measured by Debt to Total Asset Ratio (DTA) and Blockholder Ownership measured by Dummy Variables. The results in this study showed that there was a positive and insignificant influence between the adoption of IFRS on earnings management, firm size variable had a negative and insignificant effect on earnings management, leverage variable had a positive and significant effect on earnings management and blockholder ownership had a negative and insignificant effect on earnings management. This research is expected to provide input to users of financial statements as decision makers and to parties with an interest in financial reports regarding the importance of quality financial report information, especially information regarding earnings management

Analysis Influence of NPL, Good Corporate Governance, and BOPO to Stock Prices on National Private Bank Period 2012 - 2018

The level of performance of a bank has many factors that affect that stock prices, including internal factor from the bank itself. The purpose of this research is to analyse the Non-performing Loan, Good Corporate Governance, and Beban Operasional Pendapatan Operasional (BOPO) affect to stock prices simultaneously or partially on the national private private banks listed on the Indonesia Stock Exchange period 2012-2018. The sample in this study was 21 national private banks listed on the Indonesia Stock Exchange period 2012-2018. Data analysis model used is panel data regression using the software E-views 10. The results of this study indicate simultaneously the independent variables namely NPL, GCG and BOPO have a significant effect on stock prices in national private banks period 2012-2018, NPL have a significant effect on stock prices at national private private banks period 2012-2018, whereas GCG and BOPO do not significant effect on stock prices on the national private private bank period 2012-2018.

The Influence of Investment Decisions and Funding Decisions on Shareholder Value (Study on Manufacturing Companies Listed on the Indonesia Stock Exchange Period 2016-2020

This research aims to determine and analyze the influence of investment and funding decisions on shareholder value. In this research, 44 manufacturing listed companies on the Indonesia Stock Exchange period 2016-2020 were used as research samples. The sampling method is purposive; taking the samples is based on the researcher's criteria in advance. Data analysis methods in this investigation use Partial Least Square (PLS) with SmartPLS 3. The results of this investigation indicate that 1) Investment decisions have a positive and significant effect on shareholder value. 2) Investment decisions have a positive and significant effect on funding decisions. 3) Funding decisions have a negative and significant effect on shareholder value. 4) Indirect effect; investment decisions negatively and significantly affect shareholder value through funding decisions.

Improvement of Plasmonic CuS Nanocrystals’ Optoelectronic Properties via Cation Exchange for Infrared Detection Enhancement

Colloidal quantum dot (CQD) active thin films benefitting from plasmonic light trapping have emerged as an ideal platform to boost the performance of optoelectronic devices. Copper chalcogenides exhibit infrared absorption in concomitance with tunable localized surface plasmon resonances (LSPRs) within the near to mid infrared range. Regardless of the facile adjustment of the plasmonic oscillation and strong absorption in the infrared range, the application is limited due to very short-living photo-carriers followed by carrier recombination (∼100 ps). Herein, CuS nanocrystals (NCs) are developed as an infrared photoactive material to be functionalized via Pb2+ cation substitution. A short period of cation exchange causes a large reduction in photoluminescence, reaching efficient photo-response in near infrared as a consequence of charge separation. Estimated detectivity and responsivity as high as 2.16 × 1011 Jones and 870 mA W–1 at 750 nm illumination, respectively, were achieved. Increased reaction time and Pb2+ contents result in a growing trend in photoluminescence intensity, consistent with trap passivation: detectivity = 2.15 × 1011 Jones and responsivity = 730 mA W–1 at 950 nm illumination and 1.94 × 1011 Jones and 659 mA W–1 at 840 nm. Manipulation of optical and electrical properties of Cu2–xS NCs with precise cation substitution may open up possibilities for the application of plasmonic semiconductor NCs in optoelectronic devices.

The Effect of Stock Ownerships Structure on the Disclosure of Corporate Social Responsibility (Case Study on Mining Company Listed in Indonesia Stock Exchange)

Corporate social responsibility is the expression as one of the media to show concern and corporate social activities for the people in the area. So that the people feel safe havens in use production companies. This will affect corporate image so that indirectly will have an effect on to benefit that will be obtained. Based on this matter this research examines the influence company ownership structure that reflected on the institutional ownership, management ownership, and foreign ownership of extensive corporate social responsibility is the expression. Samples in this research is 30 mining companies listed in Indonesia Stock Exchange period of 2008-2012 by using purposive sampling. The method of analysis is quantitative analysis. The results of this study indicate that the variable that affect disclosure of corporate social responsibility is institutional ownership and foreign ownership. While variables that did not affect disclosure of corporate social responsibility are management ownership.

THE INFLUENCE OF MARKET RISK ON FINANCIAL PERFORMANCE IN STATE-OWNED AND FOREIGN BANKS LISTED ON INDONESIA STOCK EXCHANGE

Market risk has remained a major challenge since the financial crisis. The financial crisis taught us that risk reduction and implementation are necessary to achieve continued success. Therefore, to anticipate it will happen again, market risk has become one of the banking industry's considerations. This study aims to analyze the market risk influence on the financial performance of State-Owned Bank and Foreign Banks listed on the Indonesia Stock Exchange period of 2009-2019. In this study, market risk is measured by the interest rate risk. This study is conducted through quantitative methods, Data Regression Panel; the test and analysis using SPSS 20 software. The sample of this research is four State-Owned Bank banks and eight Foreign Banks in 2009-2019. This study found that Market Risk partially has a positive and significant influence on EPS.

The Effect of Profitability, Solvency and Company Size On Audit Delay

This study aims to determine the effect of profitability, solvency and company size on audit delay in manufacturing companies listed in Indonesia Stock Exchange periode 2015-2019. Profitability measures using Return On Asset, solvency using Debt to Asset Ratio and company size using the natural logarithm of Total Asset. This type of research is quantitative research with secondary data, namely audited annual financial report and independent auditor reports from manufacturing companies listed on the Indonesia Stock Exchange in 2015-2019. The sampling technique used purposive sampling, with a sample of 40 companies. The data analysis technique used multiple linear regression analysis. The results of this study partially show that profitability and solvency have significant effect on audit delay, while firm size has no significant effect on audit delay. The results of this study simultaneously show that profitability, solvency, and firm size have a significant effect on audit delay.

The Effect of Profitability, Solvency and Company Size On Audit Delay

This study aims to determine the effect of profitability, solvency and company size on audit delay in manufacturing companies listed in Indonesia Stock Exchange periode 2015-2019. Profitability measures using Return On Asset, solvency using Debt to Asset Ratio and company size using the natural logarithm of Total Asset. This type of research is quantitative research with secondary data, namely audited annual financial report and independent auditor reports from manufacturing companies listed on the Indonesia Stock Exchange in 2015-2019. The sampling technique used purposive sampling, with a sample of 40 companies. The data analysis technique used multiple linear regression analysis. The results of this study partially show that profitability and solvency have significant effect on audit delay, while firm size has no significant effect on audit delay. The results of this study simultaneously show that profitability, solvency, and firm size have a significant effect on audit delay.

Analisis Faktor-faktor yang Mempengaruhi Pertumbuhan Laba pada Industri Sub Sektor Makanan dan Minuman di Bursa Efek Indonesia Periode 2015-2020

This research aims, to analyze the factors assessed from working capital to total asset, current liabilities to inventory, operating income to total liabilities, total assets turnover, net profit margin and gros profit margin simultaneously or partial influence profit growth in the sub industry food and beverage on the Indonesia Stock Exchange for the period 2015-2020. The research methodology is descriptive and quantitative analysis methods. Data used is secondary data. The population become object in this research is the sub industry food and beverage on the Indonesia Stock Exchange period 2015-2020. Amount sample the used is three industry company and still stand up during period of perception and also publicized of year of 2015-2020 by Indonesian Stock Exchange the analysis multiple regression, hypotesis test so determinant coefficient F test and t test.The object of this research is food and beverage sub-sector industries during the period 2015 - 2020 consisting of 18 (eighteen) issuers. With respect to the method of sample withdrawal based on purposive sample and data limitations during the observation period, then that can be used as a sample in this study there are 9 (Nine) issuers. The sample consisted of PT Wilmar Cahaya Indonesia Tbk, PT Delta Djakarta Tbk, PT Indofood Sukses Makmur Tbk. PT Nippon Indosari Corpindo Tbk, PT Sekar Laut Tbk, PT Ultra Jaya Milk Industri &Trading Tbk, PT Moyora Indah Tbk, PT Akasha Wira International Tbk. PT Multi Bintang Indonesia Tbk. Research results model of regression equation is Y = 0,374 + 0,907 X1 + 0,179 X2 - 0,165 X3 + 0,258 X4 + 0,455 X5 + 0,074 X6 + e. F test result, it is known that idependent variabel simultaneously significant effect on profit growth. Fcount larger than Ftable (6,580 > 2,30) or comparing the significant level of 0.05 then (0.000 < 0.05) then Ho is rejected and Ha accepted. From the results t test on independent variabel is working capital to total asset and net profit margin in partial effect to profit growt to the value of tcount> ttable. Conclusion is inflation, independent variabel simultaneousl significant effect on profit growth.. While partially working capital to total asset and net profit margin in partial effect to profit growth

Laba Bersih Sebagai Mediator Pengaruh Total Aset dan Total Liabilitas Terhadap Price to Book Value pada Perusahaan Sub Sektor Farmasi Di Bursa Efek Indonesia

This purpose of the research is to know and analyze net profit as mediator of effect to total assets and total liabilities on price to book value at pharmaceutical sub-sector companies in the Indonesia stock exchange. That research is using data of secondary from annual financial statements. The purposive sampling method used with four companies that are sampled at pharmaceutical sub-sector companies in the Indonesia stock exchange period 2015-2019. Data analysis in this research uses path analysis with SPSS software. The resulting research informs : 1) total assets and total liabilities simultaneously have significant effect on net profit, 2) total asset has positive and significant effect on net profit, 3) total liabilities has negative and significant effect on net profit, 4) total assets and total liabilities simultaneously have significant effect on price to book value, 5) total assets has positive and significant effect on price to book value, 6) total liabilities has positive and insignificant effect on price to book value, 7) net profit has positive and insignificant effect on price to book value and 8) indirectly total asset and total liabilities through net profit have insignificant effect on price to book value.

Analyze The Influence of Current Ratio, Debt to Equity Ratio, Earning Per Share, Return on Asset on Stock Return at Coal Mining Company Listed on Indonesia Stock Exchange Period 2013-2016

This research conducted to analyze and to know the influence of Current Asset (CR), Debt to Equity Ratio (DER), Earning Per Share(EPS) and Return On Asset (ROA) on Stock Return at coal mining company listed on Indonesia Stock Exchange period 2013-2016. The population used in this research is all coal mining companies listed in Indonesia Stock Exchange 2013-2016. The sample of this research are 17 coal mining companies that appropriate the criteria. The analysis technique used in this research is panel data regression with using Eviews 9. Based on Chow test and Hausman test Panel Data Regression Model selected Is Fixed Effect Model. Based on t-test the result showed that Current Ratio (CR) has a significant effect on Stock Return, Debt to Equity Ratio (DER) has no significant effect on Stock Return, Earning Per Share(EPS) has no significant effect on Stock Return, and Return On Assets (ROA) has no significant effect on Stock Return. Based on F-test the result show that Current Ratio, Debt to Equity Ratio, Earning Per Shareand Return On Asset has a significant effect on Stock Return.Keywords : Stock Return, CR, DER, EPS, ROA

Analisis Rasio Likuiditas, Solvabilitas, Dan Profitabilitas Terhadap Harga Saham Dengan Earning Per Share (EPS) Sebagai Variabel Moderasi

This study aims to analyze the effect of liquidity, solvency, and profitability on stock price with Earning Per Share (EPS) as a moderation variable. The population of this research is Food and Bavarage subsector companies which is listed in Indonesian Stock Exchange period 2016-2020. The method in this study used quantitative approach. The sampling technique used was purposive sampling based on certain criteria. The research sample was obtained through purposive sampling method and resulted in 16 companies so that the sample of this study was 80 sample which became the object of research. The analytical methods used in this research are descriptive statistics, the classic assumption test, F test, t test, multiple regression analysis, and residual test for moderating variable. The result showed that partially profitability ratio have significant effect on stock price. Meanwhile liquidity and solvency ratio does not have significant effect on stock price. Simultaneously, CR, DER, and ROA affected on stock price. The result from residual test showed that Earning Per Share (EPS) unable to moderate CR, DER, and ROA on stock prices.

An Exchange Market of Water Rights for Irrigation in Tunisia: Case of Asymmetric Information on Water Quality

Tunisia, due to its location between the Mediterranean and the Sahara, is an arid country on most of its territory. Indeed, there is a marked difference between the availability of water in the North of the country and its use for irrigation in the Center. This difference, combined with the variability of the Mediterranean climate, makes water resources scarce and unequally distributed in time and space. These problems led me to search for an alternative that reduces water consumption. The present paper heads towards the creation of markets for irrigation water rights in asymmetric information on the quality of this resource to minimize water consumption. Since important consequences result from the asymmetry of information in a water market, in the case where one of the parties in a market (buyer or seller) has more information than those of the other side. The purpose of this work is therefore to consider the exchange market of water rights to measure the economic efficiency of water markets on the one hand in the presence of total asymmetry of information on water quality and on the other hand in the presence of variable costs of information. And then to see what better strategy can reduce water consumption during years of scarcity. In response, we proposed to conduct a laboratory experiment (we used 8 sessions included 32 exchange periods), to test a variety of auction treatments and to measure the impact of unequal distribution of the cost of information on water quality between the different users (buyers and sellers). Results show that small changes in the distribution of information can have a large and considerable impact on the economy. The higher the information cost, the lower the number of high-quality permits sold, and thus the lower the efficiency of the market. Thus, it can be concluded that the high responsiveness of the demand for information on the quality of the resource suggests that pricing policies can be a potential instrument to minimize water consumption.

EFFECT OF PER, DER, EPS, AND PBV ON STOCK PRICES IN BANKING COMPANIES ON IDX

This research intends to analyze the influence of PER, DER, EPS and PBV on share prices partially and simultaneously in banking companies listed on the IDX for the period 2016- 2019. This finding uses a population of 42 banking companies registered with the IDX for the period 2016 - 2019. This research uses quantitative methods. The secondary datai usedi is obtained from the official website of the www.idx.co.id and www.idnfinancials.com. In this study used for sampling is the Purposive Sampling technique. The method of investigation used is a double linear regression method. The findings showed that PER, DER and EPS partially had a negative and significant effect oni the stocki price, pbv partially had a positive and significant effect on the stock price. Based on simultaneous PER, DER, EPS and PBV significantly affect the stock price in banking companies listed on the Indonesia Stock Exchange (IDX) period 2016-2019

Return on Assets pada Perusahaan Makanan dan Minuman yang terdaftar di BEI: Studi Pengaruh Current Ratio dan Debt to Equity Ratio

The aim of this research are to analyze the effect of CR and DER to at food and Beverage listed on BEI (Indonesian Stock Exchange) Period 2014 – 2018.The method used is purposive sampling method is the technique of determinng the sample based on certain critria and considerations. With a total of 8 perusahaan for 5 years from 2014 - 2018. Completing this final project is quantitative. The analytical tool used in this study is with using the of Eviews 10 sofware. The research showed that CR (Current Ratio) are not having significant effect partially to ROA (Return On Assets), therefore, DER (Debt to Equity Ratio) are not having significant effect partially to ROA (Return On Assets), therefore, CR (Current Ratio) and DER (Debt to Equity Rato) are simultaneously react significanly to ROA (Return On Assets).

CORPORATE GOVERNANCE AND EARNINGS MANAGEMENT: EVIDENCE OF LISTED INDONESIAN COMPANIES

The purpose of this research is to investigate the relationship of corporate governance such as competence of board commissioner and audit committee, audit quality and earnings management in 434 manufacturing sector companies listed in Indonesia Stock Exchange period year 2016-2018. Earnings management proxied by discretionary accrual and profitability proxied by return-on-asset. The results of this study are: (1) firm’s size as control variable is significantly negative influences earnings management (2) profitability which proxied by return-on-asset is significantly negative influences earnings management. Meanwhile, this research did not find support evidence that competence of board commissioner, competence of audit committee, audit quality, revenue growth connection significantly influences on earnings management. Companies can analyze the earnings management through company size and financial ratios such as profitability.