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Analisis Kinerja Keuangan Menggunakan RGEC Terhadap Nilai Perusahaan (Studi pada Perbankan yang Listing di BEI Tahun 2015-2019) Linda, Linda; Suhardi, Dadang; Komarudin, Munir Nur; Maulana, Yasir
Indonesian Journal of Strategic Management Vol 4, No 1 (2021): Indonesian Journal of Strategic Management
Publisher : Universitas Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25134/ijsm.v4i1.5691

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The purpose of this study was to determine the effect of risk profile, good corporate governance, earning and capital on firm value. The population in this study are banking companies listed on the Indonesia Stock Exchange for the 2015-2019 period. The sampling method used is purposive sampling. The number of samples used as many as 26 companies from a population of 43 companies. This research data is in the form of secondary data. The data collection technique used in this research is documentation. The analysis technique used is panel data regression. The results of this study indicate that risk profile, good corporate governance, earning and capital simultaneously affects firm value. Meanwhile the partial test results show that risk profile has a positive effect on firm value, good corporate governance has no positive effect on firm value, earning has no positive effect on firm value, and capital has a positive effect on firm value.
Analisis Volatilitas pada Hubungan Dinamis antara Nilai Tukar, Tingkat Suku Bunga dan IHSG Maulana, Yasir
Indonesian Journal of Strategic Management Vol 4, No 2 (2021): Indonesian Journal of Strategic Management
Publisher : Universitas Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25134/ijsm.v4i2.5745

Abstract

The aim of this study is to determine the volatility of the dynamic relationship between the Rupiah exchange rate against the United States Dollar, the bond interest rate and the Indonesia Stock Exchange Composite Stock Price Index. The data period used is from December 2008 to December 2018. This study estimates the emergence of long memory and asymmetric volatility in the dynamic relationship between these variables using the VAR and FIGARCH methods. The results showed that there was a strong indication of long memory and asymmetric volatility in all the volatility of the observed data. Asymmetric volatility for unexpected news in Negative results for the foreign exchange and bond markets. Positive shocks for foreign exchange and bond markets will trigger negative sentiment. In addition, the dynamic relationship between the bond market and the stock market is always found to be in a negative correlation. Positive results were obtained on bonds and exchange rates which were the same findings as in other developing countries. While the JCI showed positive results, volatility was more influenced by negative shocks than positive shocks for the stock market. Volatility shift in stock return is estimated using multiple breakpoints. The shift in volatility upwards externally was not caused by Indonesia's global political-economic financial condition. The finding from the analysis of the volatility model is that the presence of shocks in volatility causes abrupt changes in dynamic relationships whose effects are only in the short term.
Financial Market Integration Between Stock Market From North American Free Trade Agreement (NAFTA) Member Yasir Maulana; Wely Hadi Gunawan
Jurnal Akuntansi dan Pajak Vol 21, No 2 (2021): JAP VOL. 21 No. 02, Agustus 2020 - Januari 2021
Publisher : ITB AAS INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jap.v21i02.1518

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Economic recession or crisis could show a higher possibility of financial crisis transmission in an integrated stock market. Integration between financial markets is a channel of spreading the devastating effects of the crisis. The objective of this study is to detect significant interactions among the stock markets of countries that are members of the North American Free Trade Agreement (NAFTA). NAFTA is a regional partnership with members from the United States, Canada and Mexico that are committed to reducing trade and investment barriers between member countries. The methodology of this research with VAR VECM model consists of three stages, the first analysis of the presence impact of the stock market index using the Granger Causality Test. Second, analyze the speed of response of an index to a change / shock in another index using the Impulse Response Function (IRF). The third stage analyzes the impact of changes / shocks from one index to other indices by using Variance Decomposition. From the 5 sets of stock market data for NAFTA countries, the results of the study show that there is only one cointegration. When viewed in the cointegration process of each of the two data series, cointegration occurs between the Nasdaq index with TSE and Nasdaq with MSE. Whereas TSE and MSE did not find any cointegration.
The Impact of Funding Liquidity on European Bank Risk-Taking Behaviour Yasir Maulana; Nugraha Nugraha; Maya Sari; In Min
Jurnal Akuntansi dan Pajak Vol 22, No 2 (2022): JAP : Vol. 22, No. 2, Agustus 2021 - Januari 2022
Publisher : ITB AAS INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jap.v22i2.3867

Abstract

Funding liquidity as the bank ability to generate funds by disbursing assets to meet short-term financial liabilities is very important because of bank intermediary activities. This study conduct to measure the effect of funding liquidity on bank risk-taking behaviour. We used the panel data regression method for data processing with Pooled Least Square (PLS), Fixed Effect Model (FEM), and Random Effect Model (REM). As this study uses bank data from different countries as well as banking and regulatory conditions that different over time, it is predicted that regression parameters are not constant between time and sample. The data period of public-listed commercial bank in Europe are from 2004 to 2016. The result of this study shows that the problem of low profitability in European banks may trigger banks to take bigger risks to achieve higher profits. These results indicate that European banks with higher levels of funding liquidity tend to have more aggressive risk-taking behavior in the future. Bank risk-taking behavior in response to increased liquidity was generally lower during the global financial crisis period. This could be due to increased risk aversion and a tighter monitoring process during this period.
Analisis Volatilitas Return Saham PT Antam (Persero) Tbk dan PT Adaro Energy Tbk Dengan Garch, Egarch Dan GJR Yasir Maulana
Jurnal Akuntansi dan Pajak Vol 20, No 02 (2020): Jurnal Akuntansi dan Pajak Vol. 20 No. 2, Januari 2020
Publisher : ITB AAS INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (352.837 KB) | DOI: 10.29040/jap.v20i2.859

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An extraordinary event that causes shock can affect volatility which causes asymmetric variance and error or commonly called asimetric shock / effect. This paper aims to analyze the volatility of stock returns of PT ANTAM (Persero) Tbk and PT Adaro Energy Tbk in the period of 2008 to 2016. The research results show that ANTM and ADRO have a GARCH effect and also have a leverage effect where the optimal model is found in the GJR model (0,1,1) for ANTM and GJR (1,1,1) for ADRO. Forecasting results shows that ADRO has higher volatility but in a relatively low percentage of volatility about 0.001 while ANTM have a tendency to decrease volatility with a fairly large percentage of volatility about 0.0025. Keywords: Volatility, GARCH, EGARCH, GJR
Pemodelan Volatilitas Indeks Harga Saham Sektoral di Indonesia Yasir Maulana
LOGIKA : Jurnal Penelitian Universitas Kuningan Vol 13 No 01 (2022)
Publisher : Universitas Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25134/logika.v13i01.5688

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This study aims to determine the volatility model of the ten sectoral stock indexes on the Indonesia Stock Exchange accompanied by analysis of the influence of leverage and forecasting using the best model obtained. The method used is the ARCH model then extended to symmetric GARCH and asymmetric extension to GARCH, namely, GJR-GARCH and EGARCH. The results of the research that we have done on sectoral stock indexes show that the ten sectoral indices can be modeled for volatility. The best model for Consumer Goods, Miscellaneous, Infrastructure, and Property is GARCH(1,1). As for the Manufacturing, Trade, and Basic Industry sectors, the best model is GJR-GARCH(0,1,1) and for the Mining, Agriculture, and Finance sectors the best model is GJR-GARCH(1,1,1). Our analysis of the leverage effect found that several sectors showed a leverage effect, namely the manufacturing, mining, agriculture, trade, finance, and property sectors. This often reflects the fact that in the Indonesian stock market often volatility increases more quickly when there is bad news than volatility changes when there is good news for these sectoral indices.
Studi Empiris Contagion Effect denganModel DCC MGARCH Yasir Maulana
Al-Amwal : Jurnal Ekonomi dan Perbankan Syari'ah Vol 9, No 1 (2017)
Publisher : IAIN Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (409.576 KB) | DOI: 10.24235/amwal.v9i1.1636

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AbstrakArtikel ini berupaya menelaah contagion effect antara emerging market kepada developed market dengan menggunakan model DCC MGARCH dalam konteks krisis keuangan Asia 1998 dengan Thailand dan Indonesia sebagai negara benchmark. Hasil empiris pada penelitian ini memperlihatkan pada kondisi krisis Thailand dengan sepuluh negara maju dan berkembang menunjukkan adanya contagion effect di empat negara. Sedangkan pada saat  krisis di Indoneisa walaupun pencetusnya dari Thailand, justru memiliki efek yang lebih menyeluruh yaitu hanya satu dari sembilan negara yang tidak menunjukkan signifikansinya yaitu Malaysia. Kata kunci : Contagion effect, DCC MGARCH AbstractThis article attempts to examine the contagion effect between emerging markets and the developed market using the DCC MGARCH model in the context of the 1998 Asian financial crisis with Thailand and Indonesia as a benchmark country. The empirical results of this study show the conditions of Thailand's crisis with ten developed countries and Growing shows the existence of a contagion effect in four countries. While at the time of crisis in Indonesia though the originator of Thailand, it has a more comprehensive effect that is only one of the nine countries that do not show the significance of Malaysia. Keywords: Contagion effect, DCC MGARCH
STRATEGI MENINGKATKAN DAYA SAING EKONOMI PRODUK UMKM DAN WISATA BERBASIS DIGITAL BUSINESS DI DESA CIHIRUP, KECAMATAN CIAWIGEBANG, KABUPATEN KUNINGAN Robi Awaluddin; Yasir Maulana
Jurnal Abdimas Bina Bangsa Vol. 1 No. 1 (2020): Jurnal Abdimas Bina Bangsa
Publisher : LPPM Universitas Bina Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (639.265 KB) | DOI: 10.46306/jabb.v1i1.5

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Cihirup adalah desa di kecamatan Ciawigebang, Kuningan, Jawa Barat, Indonesia, Cihirup merupakan Desa yang paling ujung dari Kecamatan Ciawigebang bagian utara yang menjadi pusat perbatasan antara Kabupaten Kuningan dan Kabupaten Cirebon. Masyarakatnya sendiri mayoritas petani, selain itu penggunaan bahasa dan tradisinya pun masih kental terhadap bahasa dan tradisi sunda. Setelah survey ke lapangan, Di desa cihirup memiliki produk siomay kering, kremes ubi, nugget ayam, tahu hingga rintisan objek pariwisata bangong. Namun, perlu diketahui bahwa banyaknya wirausaha di desa cihirup tidak serta-merta menambah penghasilan masyarakat. Kegiatan wirausaha dilaksanakan dengan sangat tradisional, akses pemasaran terbatas hanya di dalam desa dan dikerjakan dengan proses produksi sederhana. Maka atas latar belakang tersebut, kami menyimpulkan bahwa perlu diadakannya proses pendampingan, pelatihan dan pengembangan skala usaha yang dimiliki oleh penduduk cihirup sehingga pada akhirnya proses bisnis mereka akan berkembang yang berdampak pada peningkatan pendapatan masyarakat
Stock Investment Portfolio Analysis with Single Index Model Yasir Maulana
Indonesian Journal Of Business And Economics Vol 3, No 2 (2020)
Publisher : Universitas Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25134/ijbe.v3i2.3717

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In order to evaluate an optimal portfolio, an important step that investors or investment managers is portfolio analysis. In stock portfolio analysis, methods that can be used include the Markowitz approach and the Single Index Model. This study aims to apply the Single Index Model in finding the beta value of an efficient portfolio line, so that investors can determine the stocks and the proportion of funds needed to form an optimal portfolio. In this study, the data sources used were 1) market share price index that represents market factor or market data, 2) SBI interest rates that represents risk free (rf) and 3) The share prices of PT Ace Hardware Indonesia Tbk, PT Indocement Tunggal Perkasa Tbk and PT Matahari Putra Prima Tbk. The weight of each share in the active portfolio (Wi0) at Active Pf A 1.0000 is ACES of 0.1729, INTP of 0.0460 and MPPA of 0.7811. Then the alpha of the ACES active portfolio is 0.0051, INTP is 0.0002 and the MPPA is 0.0184. Then the calculation results show the residual variance in the active ACES portfolio is 0.0041, INTP is 0.0001 and MPPA is 0.0147. The variance of the Optimal Risky Portfolio of the variance index portfolio and the residual variance of the active portfolio is 0.1054.
INOVASI PENGELOLAAN SAMPAH DESA CILEUYA YANG BERDAMPAK LANGSUNG SECARA LINGKUNGAN DAN KEUANGAN Yasir Maulana; Rina Masruroh; Wachjuni Wachjuni; Pitriani Pitriani; Bunga Azzarri
RESWARA: Jurnal Pengabdian Kepada Masyarakat Vol 3, No 1 (2022)
Publisher : Universitas Dharmawangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (291.244 KB) | DOI: 10.46576/rjpkm.v3i1.1671

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Desa Cileuya merupakan salah satu desa yang berada di Kecamatan Cimahi, Kabupaten Kuningan. Desa Cileuya terdiri dari lima dusun, sembilan RW, dan empatpuluh RT. Jumlah penduduk sebanyak 5.320 jiwa dengan total 1.871 kepala keluarga 1.871. Masing-masing KK per hari rata-rata menghasilkan sampah 0,4 kg, sehingga sampah yang dihasilkan adalah 748 kg sampah per hari. Namun sampah tersebut belum terkelola dengan baik, masih dibuang sembarangan dan belum dimanfaatkan sama sekali, sehingga cenderung menyebabkan pencemaran lingkungan. Sehubungan dengan hal tersebut, maka dilakukan kegiatan pendampingan terutama kepada Desa Cileuya yang bertujuan untuk memperbaiki pengelolaan sampah desa. Pelaksanaan pendampingan dengan menggunakan metode workshop dan FGD. Hasil kegiatan pendampingan ini adalah pelatihan pengelolaan sampah, perencanaan pembangunan pengelolaan Tempat Pembuangan Akhir dan bank sampah