PENGARUH PERSYARATAN KREDIT, LITERASI KEUANGAN, DAN DEMOGRAFI TERHADAP AKSES KREDIT FORMAL PADA UMKM DI SIDOARJO

This study aims to analyze the impact of credit terms, financial literacy, and demographics to formal credit accessibility on Small Medium Enterprise (SME) in Sidoarjo. The research method in this study is purposive sampling where there are two requirements that must be fullfiled by the owner of SME to be chosen respondent in this study. The data in this study was collected by distributing questionnaires either directly or online from April 2nd 2018 – April 30th 2018. Samples on this study are 100 respondent who have access to credit at a formal financial institution. The method used in this study is multiple linear regression. The finding of this study shows that the credit requirements and financial literacy have a significant positive effect on access to formal credit. While age, gender, and level of education are not significant effect on access to formal credit. The implication of this research is known that access to formal credit by SMEs in Sidoarjo more affected by financial literacy variables, so the government is expected to improve the financial literacy rate of SMEs owners to socialize the importance of access to formal credit and financial management for the development of their businesses. Keywords: Access to Formal Credit, Credit Terms, Financial Literacy, Demographics, Small Medium Enterprise (SME)

Pengaruh Kebijakan Dividen, Volume Perdagangan, Earning Volatility, Leverage, dan Firm Size Terhadap Volatilitas Harga Saham Perusahaan LQ45

This research was conducted to determine the factors that which influence the volatility of the LQ45 companys stock prices. The independent variables used are dividend policy measured by DPR and DY, trading volume, earning volatility, leverage (DER), and firm size. The population of this research is the LQ45 companies listed on the Indonesia Stock Exchange between to 2015-2017. Meanwhile, the sample was selected using a purposive sampling, so that 19 sample companies that fulfill the criteria were obtained. Furthermore, the data in this research was analyzed using multiple linear regression analysis techniques. Based on the results tests, it can be concluded that the DPR has a significant negative effect on stock price volatility, because the large amount of dividend payments give a positive signal regarding with the low investment risk. DY has a significant positive effect on stock price volatility, because the high DY means the current stock price is low, so company has a high investment risk. Trading volume has no effect on stock price volatility, because company is included in blue chips stock with large market capitalization. Earning Volatility has no effect on stock price volatility, because company pays dividend to investors even thought profits earned are not stable. Leverage has no effect on stock price volatility, because the company is able to utilize its loan capital to maximize profits. Firm size has a significant negative effect on stock price volatility, because company that has large assets can increases productivity and reduces level of investment risk.Keywords: dividend policy; earning volatility; leverage: stock price volatility; trading volume

PENGARUH EVA, OPERATING CASH FLOW, EPS, RESIDUAL INCOME, & OPERATING LEVERAGE TERHADAP RETURN SAHAM DI PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI 2012-2016

The capital market is a means for fund owners or investors to carry out invest in companies that need funds. The purpose of this study is as follows to analyze the effect of economic value added (EVA), operating cash flow, residual income, earnings per share (EPS), operating leverage on stock returns on pharmaceutical companies listed on the Indonesia Stock Exchange 2012-2016. In this study using explanatory research with a quantitative approach, because in this study the method used is the explanation method. The population is all pharmaceutical companies listed on the Indonesia Stock Exchange during the period 2012-2016 with a population of 9 companies. The sampleselection is done by non probabilit sampling technique, which is a sampling technique that does not provide equal opportunity or opportunity for each element or member of the population to be selected as a sample. In this study using multiple regression analysis with the help of SPSS application version 24.0. The results of this study are: Economic Value Added, Residual income, Earning Per Share, Operating Leverage does not affect stock returns in pharmaceutical companies listed on the Indonesia Stock Exchange 2012-2016. Operating cash flow has an effect on stock returns in pharmaceutical companies listed on the Indonesia Stock Exchange 2012-2016. Keywords: economic value added; earning per share; operating cash flow; operating leverage; residual income; stock return

ANALISIS FAKTOR INTERNAL TERHADAP FINANCIAL DISTRESS SEKTOR PERDAGANGAN, JASA, DAN INVESTASI YANG GO PUBLIC PADA PERIODE 2013-2017

This purpose of this research to analyze the influence of the financial ratio, firm size, and sales growth, on the financial distress companies in the Indonesian trade, service, and investment sector period 2013-2017. The dependent variable in this study use financial ratio (liquidity, profitability, leverage), firm size (Ln total assets), growth (sales growth) to predict the company’s financial distress. The sample of this research is 23 Indonesian trade, service, and investment sector. The companies selected using purposive sampling on the period 2013-2017. This study uses logistic regression method. The results show that liquidity (current ratio), leverage (debt to equity ratio), and firm size (Ln total assets) have a significant positive effect on financial distress. Profitability (return on assets) has negative effect on financial distress, and sales growth does not affect on financial distress. Therefore, the trade, service, and investment sector companies are expected to pay attention the value of liquidity, leverage, firm size, and profitability so that companies can avoid financial distress. The Adjusted R square value are 0.289 which means that the movement of company’s financial distress 28,9% by the variables on this study and 71,1% is described by other variables outside model this research.Keywords: financial distress; financial ratio; firm size; sales growth

Pengaruh Pelayanan, Lokasi, Pengetahuan, dan Sosial Terhadap Keputusan Menabung di Ponorogo

Nowdays, people believe to save money in banking. Before deciding to merge in a bank, people consider the factors and benefits if they are choosing the bank. The main purpose of this research is to test the influence of service, location, knowledge, and social of saving decision people in Ponorogo at Conventional Bank and Sharia Bank, so in this research there are two models that will explain the effect of saving in Conventional Bank and Sharia Bank. The type of research is quantitative research by using purposive sampling method and obtained 220 respondents. The objects of this research were customers in conventional banks and sharia banks. The data obtained by spreading questioners with 20 items of the statement to customer. The technique of data analysis using multiple linear regression. Research result, service, knowledge, and social are influence to saving decision in Ponorogo at the Conventional Bank. The most dominating variable is service, so if the bank provides good service then the decision to save will increase. Location variable has not infuence because customers can make transaction via ATM or Mobile Banking that has been provide by the bank, so customers do not need come to the bank. In Sharia Bank, Research result, service, location, knowledge, and social are influence to saving decision in Ponorogo. The most dominating variable is social, so it is necessary to socialize for public so that people willing to save in Sharia Bank. Keywords: saving decision, Conventional Bank, Sharia Ban

PENGARUH KINERJA KEUANGAN, TINGKAT BUNGA DAN INFLASI TERHADAP RETURN SAHAM PERUSAHAAN SEKTOR PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2014-2016

This study aims to determine the factors that effect the stock returns of the company in Property and Real Estate sector. The population in this study were 48 companies with as many as 31 companies research samples are taken using purposive sampling . This study using financial ratios, interest rate and inflation than analyzed using multiple linier regression. Financial ratios can describe the condition of company so, financial ratio can be taken into consideration investors to conduct investment activities. F test result in this study indicate that jointly financial performance, interest rate and inflation effect the stock return. The results obtained for t test show that the variables ROA, Current Ratio, DER, TATO, EPS, and EVA have no effect on stock return. Variable beta has a significant negative while interest rate and inflation have a significant positive effect on stock return. Keywords: stock return, financial performance, interest rate, inflatio

ECONOMIC VALUE ADDED, FINANCIAL RATIO, RETURN SAHAM STUDI PADA PERUSAHAAN PUBLIK CONSUMER GOODS PERIODE 2013-2017

This study aims to determine the factors that influence the returns of shares of public consumer goods companies for the period 2013-2017. The type of this research is causal associative research and used quantitative data. The population in this study were 47 companies with a sample of 24 companies taken using purposive sampling. This study uses financial ratios analyzed using multiple linear regression. Financial ratio used in this research were ROA, Current Ratio, DER, PER and NPM. The result in this study indicate that simultaneously EVA, ROA, Current Ratio, DER, PER, NPM affect stock returns. While EVA has a negative effect on stock returns, ROA has a positive effect on stock returns, Current Ratio, DER, PER, NPM does not affect stock returns. Therefore, if investors want to get high stock returns, investors must consider the EVA and ROA variables in making investment decisions. Keywords: economic value added; financial ratio; stock returns

PENGARUH EVA, OPERATING CASH FLOW, EPS, RESIDUAL INCOME, & OPERATING LEVERAGE TERHADAP RETURN SAHAM DI PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI 2012-2016

The capital market is a means for fund owners or investors to carry out invest in companies that need funds. The purpose of this study is as follows to analyze the effect of economic value added (EVA), operating cash flow, residual income, earnings per share (EPS), operating leverage on stock returns on pharmaceutical companies listed on the Indonesia Stock Exchange 2012-2016. In this study using explanatory research with a quantitative approach, because in this study the method used is the explanation method. The population is all pharmaceutical companies listed on the Indonesia Stock Exchange during the period 2012-2016 with a population of 9 companies. The sampleselection is done by non probabilit sampling technique, which is a sampling technique that does not provide equal opportunity or opportunity for each element or member of the population to be selected as a sample. In this study using multiple regression analysis with the help of SPSS application version 24.0. The results of this study are: Economic Value Added, Residual income, Earning Per Share, Operating Leverage does not affect stock returns in pharmaceutical companies listed on the Indonesia Stock Exchange 2012-2016. Operating cash flow has an effect on stock returns in pharmaceutical companies listed on the Indonesia Stock Exchange 2012-2016. Keywords: economic value added; earning per share; operating cash flow; operating leverage; residual income; stock return

PENGARUH PERSYARATAN KREDIT, LITERASI KEUANGAN, DAN DEMOGRAFI TERHADAP AKSES KREDIT FORMAL PADA UMKM DI SIDOARJO

This study aims to analyze the impact of credit terms, financial literacy, and demographics to formal credit accessibility on Small Medium Enterprise (SME) in Sidoarjo. The research method in this study is purposive sampling where there are two requirements that must be fullfiled by the owner of SME to be chosen respondent in this study. The data in this study was collected by distributing questionnaires either directly or online from April 2nd 2018 – April 30th 2018. Samples on this study are 100 respondent who have access to credit at a formal financial institution. The method used in this study is multiple linear regression. The finding of this study shows that the credit requirements and financial literacy have a significant positive effect on access to formal credit. While age, gender, and level of education are not significant effect on access to formal credit. The implication of this research is known that access to formal credit by SMEs in Sidoarjo more affected by financial literacy variables, so the government is expected to improve the financial literacy rate of SMEs owners to socialize the importance of access to formal credit and financial management for the development of their businesses. Keywords: Access to Formal Credit, Credit Terms, Financial Literacy, Demographics, Small Medium Enterprise (SME)

KINERJA KEUANGAN, INFLASI DAN RETURN SAHAM: STUDI PADA PERUSAHAAN PUBLIK SUB SEKTOR TRANSPORTASI PERIODE 2010-2017

Capital markets have an important contribution to the companies in fulfilling funds and distribution funds through investment. Many companies trade financial instrument such as shares. Investors who are interested to buying company shares, will get a return. This study aims to analyze the factors that influence the stock return of the transportation sub sector. Sector transportation was choosen due to the gap of phenomenon between the transportation users according to BPS, which tends to increase, but the return of the transportation sector companies fluctuates. The number of samples in this study were 11 companies with 8 years of observation so that as a whole amounted to 88 datas. The variable were observed in this study are financial ratio, inflation and return being analized using multiple linear regression analysis. The results of the F test in this study indicate that simultaneously financial performance and inflation affect stock returns. Whereas, the results of the t test show that the variables CR and EPS have no effect on stock returns. The variable DER has significant positive effect on stock returns, the variable TATO and inflation has a significant negative effect on stock returns. Based on the results of this study, the implication is that investors are expected to pay more attention value of DER, TATO and inflation in making investment decisions. Keywords: financial performance; inflation; stock retur