Articles
ANALISIS STUKTUR, KINERJA, DAN PERILAKU INDUSTRI ROKOK KRETEK DAN ROKOK PUTIH DI INDONESIA PERIODE 1991-2008
Pratiwi, Gustyanita;
Anggraeni, Lukytawati
Jurnal Agribisnis Indonesia Vol 1, No 1 (2013): JAI Vol 1 No 1 Juni 2013
Publisher : Jurnal Agribisnis Indonesia
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Tobacco industry is one of important manufacturing industry in Indonesia. There are several changes in structure, performance, and behavior of this industry during 1991-2008. This study aim is to analyze the differences between clove cigarette and white cigarette industries with SCP method. Analysis of industrial structure with CR4 index and barriers to entry. Industry performance is measured by Price Cost Margin (PCM) approach. Factors that affect the performance itself are analyzed by the Ordinary Least Square (OLS) method. The results of structural analysis show that the level of industry concentration of clove cigarettes went from tight oligopoly (84.29 percent) to medium oligopoly (52.65 percent) during research period. In contrast, white cigarette industry remained in tight oligopoly level with an average value of CR4 about 94.33 percent. The average value of MES which reflects the barrier to entry in white cigarette industries is higher (95.17 percent) than in cigarette industries (72.85 percent). Regression analysis on a clove cigarette industry indicates that the variable X-eff and growth are significantly positive, whereas a variable number of firms significantly negative effect on PCM. In white cigarette industry, a significant variable to the PCM is the X-eff (0.366799). The analysis of behavior between the two industries cannot be separated from government regulation, especially in setting of the selling price. Promotion, although it increasing production costs, remains to be important strategy to maintain the industry market share.
ANALISA DAMPAK REVALUASI ASET TETAP TERHADAP HARGA PASAR DAN RETURN SAHAM YANG TERDAFTAR DI BURSA EFEK INDONESIA
puspitasari, dwi puspitasari;
Anggraeni, Lukytawati;
Pasaribu, Syamsul Hidayat
Jurnal ASET (Akuntansi Riset) Vol 10, No 1 (2018): Jurnal ASET (Akuntansi Riset). Januari-Juni 2018 [DOAJ & SINTA INDEXED]
Publisher : Universitas Pendidikan Indonesia
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DOI: 10.17509/jaset.v10i1.12458
Abstract. The objective of this study is to examine the impact of fixed asset revaluation towards market reaction proxied by stock price and stock return of public listed company in Indonesia Stock Exchange in the period of 2007 until 2016. Revaluation is one of valuation methode of fixed asset used to give more accuracy and fair information about the the condition of the company for those interested parties. The samples in this research used 18 companies which applied revaluation method were selected by purposive sampling technique. The method of analysis in this study using regression analysis. This study showed fixed asset revaluation is not significant influence to the stock price and stock return. These results have practical implication to corporate manager for financial strategy for increasing the value of the company. Keywords: Fixed assets revaluation, stock price, stock return Abstrak. Penelitian ini bertujuan untuk meneliti pengaruh revaluasi aset tetap terhadap reaksi pasar yang ditunjukan dengan harga pasar saham perusahaan publik yang terdaftar di Bursa Efek Indonesia selama tahun 2007 sampai 2016. Revaluasi merupakan salah satu metode penilaian aset tetap yang bertujuan untuk memberikan informasi yang akurat dan wajar tentang kondisi perusahaan kepada pihak yang membutuhkan. Sampel pada penelitian ini menggunakan 18 perusahaan yang menerapkan metode revaluasi yang dipilih dengan metode purposive sampling. Metode analisa dalam penelitian ini menggunakan analisa regresi. Hasil penelitian ini menunjukan bahwa revaluasi aset tetap tidak berpengaruh signifikan terhadap harga pasar dan return saham. Hasil penelitian ini memberikan implikasi kepada manajemen untuk strategi keuangan dalam meningkatkan nilai perusahaan. Kata Kunci: Revaluasi aset tetap, harga pasar saham, return saham
Faktor Penentu Integrasi Pasar Beras di Indonesia Determinants of Rice Market Integration in Indonesia
Hidayanto, Muh. Wawan;
Anggraeni, Lukytawati;
Budiman Hakim, Dedi
JURNAL PANGAN Vol 23, No 1 (2014): PANGAN
Publisher : Perum BULOG
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DOI: 10.33964/jp.v23i1.45
Beras merupakan komoditi pangan yang utama dan strategis di Indonesia, sehingga Pemerintah perlu menjaga stabilitas harga beras. Stabilisasi harga beras akan lebih efektif dilaksanakan pada pasar yang terintegrasi. Tujuan penelitian ini adalah (i) menganalisis integrasi pasar beras antar propinsi di Indonesia; (ii) menganalisis integrasi pasar beras antara pasarpasarpropinsi dengan pasar beras tingkat grosir di Pasar Induk Beras Cipinang (PIBC); (iii) menganalisis integrasi pasar beras antara pasar beras tingkat grosir di PIBC dengan pasar beras internasional; dan (iv) menganalisis faktor penentu integrasi pasar beras di Indonesia. Pengujian kointegrasi menggunakan metode Johansen, sedangkan analisis faktor penentu integrasi pasar beras di Indonesia dilakukan melalui analisis regresi terhadap beberapa variabel yang diduga merupakan faktor penentu dengan hasil analisis integrasi pasar beras antar propinsi yang telah dilakukan sebelumnya. Hasil penelitian memperlihatkan bahwa pasar beras tingkat retail antar 26 propinsi di Indonesia tidak sepenuhnya terintegrasi. Demikian pula pasar beras tingkat retail pada 26 propinsi di Indonesia juga tidak sepenuhnya terintegrasi dengan pasar beras grosir di PIBC. Integrasi pasar beras grosir di PIBC dengan harga beras internasional memperlihatkan bahwa terdapat kointegrasi antara harga beras jenis IR-64 kualitas II dengan harga beras internasional Thailand broken 15 persen dan Vietnam broken 15 persen. Adapun harga beras jenis IR-64 kualitas III hanya memiliki kointegrasi dengan harga beras Thailand dan tidak dengan harga beras Vietnam. Hasil penelitian juga memperlihatkan bahwa faktor jalan raya sebagai infrastruktur transportasi, percapita income, dan aktivitas pembelian (pengadaan/procurement) beras petani oleh BULOG terbukti mempengaruhi integrasi pasar beras secara signifikan dan positif. Faktor lain yang juga signifikan mempengaruhi namun secara negatif adalah distribusi (penyaluran) beras Raskin kepada rumah tangga miskin. Rice is a staple food and has a strategic role in Indonesia. Therefore, the government has to maintain rice price to be stable. Rice price stabilization will be more effectively implemented on integrated markets. The objectives of this study are (i) to analyze market integration among retail rice prices at provinces in Indonesia; (ii) to analyze market integration between retail rice prices at provinces in Indonesia and wholesale rice price at Cipinang Wholesale Rice Market (PIBC); (iii) to analyze market integration between wholesale rice price at PIBC and international rice price; and (iv) to analyze the determinants of rice market integration in Indonesia. Johansen cointegration test is used to analyze market integration, while ordinary least squares method are used to analyze the determinants of rice market integration in Indonesia. Result of the study shows that retail rice prices among provinces are not fully integrated. Similarly, retail rice prices at provinces in Indonesia and wholesale rice price at PIBC are not fully integrated either. Market integration test between wholesale rice prices at PIBC and international rice prices shows that IR-64 II rice price at PIBC has cointegration with Thailand 15 percentage broken and Vietnam 15 percentage broken, while IR-64 III rice price at PIBC only has cointegration with Thailand 15 percentage broken rice price, but not with Vietnam 15 percentage broken. The research also finds that road as transportation infrastructure is positively and significantly associated with market integration, as well as rice procurement by BULOG and percapita income. Raskin distribution is also statistically significant but negatively associated.
Pengaruh Kinerja Keuangan dan Makroekonomi Terhadap Harga Saham Sektor Industri Konsumsi
Tony Irawan, Nur M. Azizah, Lukytawati Anggraeni,
Jurnal Ekonomi Vol 25, No 2 (2020): July 2020
Publisher : Fakultas Ekonom dan Bisnis, Universitas Tarumanagara
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DOI: 10.24912/je.v25i2.682
Stock price can be affected by financial performance and macroeconomic. Investors need to consider financial performance and macroeconomic condition in making investment decision. The goal of this study is to analyze the effect of financial performance and macroeconomic toward stock price of consumer goods industry. Panel Data Regression is used in this study to analyze the effect of financial performance and macroeconomic toward stock price. The result of this study shows the liquidity ratio (CR) has a significant and negative effect toward stock price, while the profitability ratio (ROE) has a significant and positive effect toward stock price. Macroeconomic inflation and exchange rate have a significant and positive effect toward stock price. Firms with high liquidity ratio (CR) have to control the liquidity ratio, because in the long term high liquidity has a negative effect toward stock price so the stock price may decrease. Investors need to compare the financial performance in order to make a good decision.
PENGARUH KETERBUKAAN EKONOMI DAN TRANSFORMASI STRUKTURAL TERHADAP KETIMPANGAN PENDAPATAN DI INDONESIA
Kuntoro, Eri;
Anggraeni, Lukytawati;
Widyastutik, Widyastutik
Proceeding SENDI_U 2020: SEMINAR NASIONAL MULTI DISIPLIN ILMU DAN CALL FOR PAPERS
Publisher : Proceeding SENDI_U
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Ketimpangan pendapatan di Indonesia mengalami peningkatan sejak tahun 2000. Hal ini terjadi karenakelompok 20% penduduk terkaya lebih menikmati pertumbuhan ekonomi dibandingkan kelompok yang lain.Beberapa studi menghubungkan fenomena ini dengan booming komoditas yang terjadi pada tahun 2000-an. Padaperiode yang bersamaan juga terjadi lompatan transformasi struktural dari sektor pertanian menuju sektor jasapada saat sektor industri belum matang. Penelitian ini berusaha untuk menganalisis pengaruh transformasistruktural dan keterbukaan ekonomi dalam bentuk keterbukaan perdagangan dan investasi terhadap ketimpanganpendapatan. Dengan menggunakan model panel dinamis yang melibatkan data 33 provinsi selama periode 2007-2016, dapat identifikasi bahwa keterbukaan perdagangan mempunyai pengaruh signifikan terhadap penguranganketimpangan tetapi pengaruhnya cenderung mengecil pada masa booming komoditas di provinsi-provinsipengekspor bahan mentah. Pengaruh yang sama juga terjadi pada transformasi pertanian-jasa yang signifikanmengurangi ketimpangan. Pengaruh transformasi pertanian-jasa cenderung mengecil pada daerah perkotaan.
Abnormal Returns and Trading Volume in the Indonesian Stock Market in Relation to the Presidential Elections in 2004, 2009, and 2014
Imelda, Imelda;
Siregar, Hermanto;
Anggraeni, Lukytawati
BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi Vol. 21, No. 2
Publisher : UI Scholars Hub
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Presidential election is considered as relevant information for stock market’s investors to make investment decision. The objective of this study is to examine differences in average abnormal return and trading volume activity on sectoral indices’ stocks before and after the presidential elections in 2004, 2009, and 2014. The research uses the event study method. The data are collected from the Indonesia Stock Exchange. The daily closing prices on sectoral indices used in this study consist of 120 days preceding and 30 days succeeding the elections. There is a strong evidence of differences in average abnormal return on Indonesian’s sectoral stock market before and after the presidential elections especially for the mining sector. However, the trading volume activities of the Indonesian’s sectoral stock market before and after the elections were statistically the same. The litigation from the last election results had no impact on most Indonesian’s sectoral stock, except for the financial as well basic industry and chemical sectors. The analysis concludes that the trade, services, and investment are the most stable sectors, while mining is the opposite one.
The Economy of Indonesia: Driven by Physical or Human Capital?
Agusalim, Lestari;
Anggraeni, Lukytawati;
Pasaribu, Syamsul H.
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 15, No 1 (2022): March 2022
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v15i1.34418
This study aims to analyze whether economic growth in Indonesia is driven by physical or human capital using panel data analysis consisting of all provinces over the last nine years. The estimation results show that the Indonesian economy is more likely to be driven by physical than human capital. The formation of human capital that has a significant positive effect on economic growth is health. However, the education variable represented by the mean years schooling has no significant effect on economic growth when including the control variable in the research model. To improve the quality of education, the state requires the government to provide substantial educational spending. However, the budget has not been used optimally so that the expected achievements of graduates are not achieved. In addition, education spending has not met the criteria for quality spending. In contrast to education spending, an increase in health spending will increase economic growth by improving the quality of health and life expectancy. A healthier society will have a high level of productivity that impacts the regional and national economy.
Analisis Efektivitas Program Raskin dan Ketahanan Pangan Rumah Tangga Miskin “Kasus Di Propinsi Jawa Barat Tahun 2010”
Alla Asmara;
Sri Hartoyo;
Rina Oktaviani;
Lukytawati Anggraeni
Jurnal Ilmu Pertanian Indonesia Vol. 15 No. 3 (2010): Jurnal Ilmu Pertanian Indonesia
Publisher : Institut Pertanian Bogor
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Realizing that there are still alot of poor households (RTM) in Indonesia, the government through various programs and policies continue to improve the food security conditions of poor households, particularly through Raskin. The implementation of Raskinhas been running about ten years. However, the criteria of “Enam Tepat” as indicator of success oof Raskin, has not been fully achieved. The purpose of this study consist of: Firstly, analyze the effectiveness of the Raskin program in West Java. Secondly, analyze the condition of the food security of poor households in West Java. The study was designed as a research survey with the simple random sampling method.The results showed that the actual Raskin recipients exceed the amount of targeted households (RTS) with deviations ranging from 17.33 to 164.23 percent. Deviation in the quantity indicator ranged from 14.77 to 62.15 per cent. While, the price deviations ranged from 14.26 to 40.19 per cent. For timely indicators of Raskinis generally achieved. Analysis on food security conditions of poor households showthat the poor households that categorized as vulnerable on food is approximately 6.7 percent to 34.5 percent.
DAMPAK KETERBUKAAN PERDAGANGAN DAN KINERJA MANUFAKTUR DI INDONESIA
Wahyu Dyah Novitasari;
Sri Hartoyo;
Lukytawati Anggraeni
JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN Vol 4 No 2 (2015): Jurnal Ekonomi dan Kebijakan Pembangunan
Publisher : IPB University
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DOI: 10.29244/jekp.4.2.2015.172-186
This study aims to analyze the impact of trade openness on the performance of manufacturing in Indonesia. In the study, performance and manufacturing growth indicated by the index of competitiveness and manufacturing added value. In aggregate, over the last few years, trade performance of Indonesia’s manufacturing sector has decreased due to the low index of competitiveness and comparative advantage. The empirical results using an Autoregressive Distributed Lag (ARDL) model with Error Correction Approach (ECM) shows that trade openness consistently negative effect on manufacturing value added, implicitly increase one percent change in trade openness would be deficit of changes in manufacturing value added of 4.26 billion rupiah, ceteris paribus. Furthermore, the amount of labor consistently positive effect on manufacturing value added, while fixed capital variable and value-added of previous lag (a year earlier) take effect by unstable in the long term as well as short then the crisis has also negatively affect the manufacturing value added.
ANALISIS INKLUSI KEUANGAN DAN PEMERATAAN PENDAPATAN DI INDONESIA
Bintan Badriatul Ummah;
Nunung Nuryartono;
Lukytawati Anggraeni
JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN Vol 4 No 1 (2015): Jurnal Ekonomi dan Kebijakan Pembangunan
Publisher : IPB University
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DOI: 10.29244/jekp.4.1.2015.1-27
Recent study showed that increasing access and usage of banking services reduce income inequality. Nowdays banking access in Indonesia is increasing but income equality gap is widening. Therefore, by using secondary data from 33 provinces 2007- 2011, this paper aims to measure the level of access and usage for financial services across provinces in Indonesia by Index of Financial Inclusion, analyze the factors that affect financial inclusion by panel tobit regression, and describe the relationship between financial inclusion and income distribution in Indonesia. The results show that the level of financial inclusion in Indonesia is classified as low. The size of the economy and income inequality positively affect the level of financial inclusion. Opposite the research hypothesis, widening income inequality lead to higher financial inclusion in Indonesia. Moreover, the number of mobile phone and the internet user affect positively the level of financial inclusion in Indonesia. Income inequality and financial inclusion has a one-way relationship, income inequality affects financial inclusion in Indonesia but does not vice versa. Keywords : Financial Inclusion, income inequality