Dampak COVID-19 Terhadap Hasil Analisis Kelayakan Investasi pada Saham Perusahaan BUMN
Abstract
The aim of the research is to analyze the impact of COVID-19 on the stock performance of State-Owned Enterprises (BUMN). The research sample is the shares of BUMN companies. The sampling technique used in this research is purposive sampling. The number of samples that met the research criteria were 19 state-owned companies. The method used to analyze the CAPM. The results of the analysis prior to COVID-19 found that five state-owned companies were efficient shares. The results of the analysis at the time of COVID-19 obtained that fifteen BUMN companies were efficient shares. The results of the different tests on the performance of BUMN shares before and during COVID-19 concluded that there were differences. The results of the study show that with COVID-19 the feasibility of state-owned company shares has changed.
Keywords : Stocks; COVID-19; CAPM; State-Owned Companies
Downloads
Download data is not yet available.
References
Apritchzeki, S. S. (2020). Analisis Resiko Return Saham Tahunan Bank BUMN dengan Menggunakan Model Value At Risk Periode 2015–2018. Jurnal Lentera Akuntansi, 5(2), 34–39. http://dx.doi.org/10.34127/jrakt.v5i2
Cahya, B. T. (2019). Pengaruh Motivasi dan Kemajuan Teknologi Terhadap Minat Investasi Saham. Al-Masharif: Jurnal Ilmu Ekonomi Dan Keislaman, 7(2), 192–207. http://jurnal.iain-padangsidimpuan.ac.id/index.php/Al-masharif/ article/view/2182/1774
Hasan, N., Pelleng, F. A. O., & Mangindaan, J. V. (2019). Analisis Capital Asset Pricing Model (CAPM) Sebagai Dasar Pengambilan Keputusan Berinvestasi Saham (Studi pada Indeks Bisnis-27 di Bursa Efek Indonesia). Jurnal Administrasi Bisnis (JAB), 8(1), 36–43. https://doi.org/10.35797/ jab.v8.i1.36-43
Komara, E. F., & Yulianti, E. (2021). Analisis Saham Berdasarkan CAPM Pada Jakarta Islamic Indeks (JII) Periode 2014-2019. Nominal Barometer Riset Akuntansi Dan Manajemen, 10(1), 58–70. https://doi.org/10.21831/ nominal.v10i1.32286
Kristiana, A., Syaifulloh, M., & Riono, S. B. (2021). Analisa Faktor Faktor yang Mempengaruhi Kinerja Karyawan di RSU Islami Mutiara Bunda. Value: Jurnal Manajemen Dan Akuntansi, 16(1), 104–114.
Kurniawan, R. F., & Sari, H. M. K. (2023). Analysis of Optimal Portfolio Formation During the Covid-19 Pademic Using the Capital Asset Pricing Model (CAPM) Model for IDX-30 Shares in the 2020 Period. Indonesian Journal of Innovation Studies, 22(1), 10–21070. https://doi.org/10.21070/ijins.v22i.852
Nababan, L. U. (2019). Penerapan Model Regresi Data Panel pada Analisis Harga Saham Perusahaan Batubara. Akuntabel, 16(1), 81–97. https://doi.org/10.30872/jakt.v16i1.5383
Oeliestina, O. (2021). Analysis of The Effect of Pandemic Covid-19 on Economic Growth Using Mc Nemar Statistical Test. Jurnal Paradigma Ekonomika, 16(3), 503–516. https://doi.org/10.22437/jpe.v16i3.11242
Prayuga, R. S., Lubis, H., & Rahmah, D. D. N. (2022). Komunikasi Dari Mulut Ke Mulut Pada Media Elektronik Dengan Keputusan Investasi Saham Investor Saham Pemula. Psikoborneo: Jurnal Ilmiah Psikologi, 10(1), 191–200. https://doi.org/10.30872/psikoborneo
Putra, I. R., & Rinaldo, D. (2022). Analisis Perbandingan Saham-Saham Efisien dengan Metode CAPM Sebelum dan Setelah Pandemi Covid-19. Moneter-Jurnal Akuntansi dan Keuangan, 9(1), 66–74. https://doi.org/10.31294/ moneter.v9i1.12292
Safitri, A. M., & Wibisono, H. (2023). Pengaruh Pertumbuhan Perusahaan, Struktur Aset, Free Cash Flow dan Profitabilitas Terhadap Kebijakan Utang(Studi Empiris Perusahaan BUMN Terdaftar di BEI Tahun 2019–2021). JRMA (Jurnal Riset Manajemen dan Akuntansi), 11(1), 31–45. https://doi.org/10.33508/jrma.v11i1.1145
Setyawati, I., Molina, M., Muhani, M., & Huda, I. E. W. N. (2021). Kelayakan Investasi dengan Pendekatan Capital Asset Pricing Model Untuk Saham Kapitalisasi Terbesar di Bursa Efek Indonesia. Jurnal Kajian Ilmiah, 21(3), 329–340. https://ejurnal.ubharajaya.ac.id/index.php/JKI/article/view/722
Sudirman, S., & Alhudhori, M. (2018). Pengaruh Konsumsi Rumah Tangga, Investasi Terhadap Pertumbuhan Ekonomi Di Provinsi Jambi. Ekonomis: Journal of Economics and Business, 2(1), 81–91. http://dx.doi.org/10.33087/ ekonomis.v2i1.33
Susila, M. R. (2022). Causal Influence between the JSX Composite Index and the FTSE Straits Times Index in Time Series. Jurnal Ekonomi Pembangunan, 21(02), 113–123. https://doi.org/10.22219/jep.v21i02.22451
Susila, M. R. (2023). The Role of Work Engagement In Mediating The Effect of Job Characteristics and Compensation on Performance. Asian Management and Business Review, 3(1), 60–73. https://doi.org/10.20885/AMBR.vol3.iss1.art6
Susila, M. R., Jamil, M., & Santoso, B. H. (2022). Analisis Dampak COVID-19 dan Faktor-Faktor yang Mempengaruhi Indeks Saham Bank Jatim Menggunakan Pendekatan Regresi Time Series. Jambura Journal of Mathematics, 4(2), 220–231. https://doi.org/10.34312/jjom.v4i2.13401
Susila, M. R., Putri, R. C., & Arini, D. (2020). Pemodelan Regresi Spasial Investasi Luar Negeri yang Masuk ke Indonesia. BAREKENG: Jurnal Ilmu Matematika Dan Terapan, 14(4), 543–556. https://doi.org/10.30598/barekengvol14iss4 pp543-556
Wardono, D. U., Putra, K. A. I., Hakim, A. L., & Aji, S. (2023). Analisis Tingkat Risiko Dan Expected Return Menggunakan Capital Asset Pricing Model (CAPM) Terhadap Keputusan Berinvestasi (Studi Pada IDX High Dividend 20 Di Bursa Efek Indonesia). Jurnal Pendidikan Dan Konseling (JPDK), 5(1), 4174–4180. https://doi.org/10.31004/jpdk.v5i1.11681
Winarto, W. W. A. (2022). Analisis Komparasi Kinerja Saham yang Terdaftar di Jakarta Islamic Indeks Sebelum dan Selama Pandemi COVID-19. Jurnal Manajemen Dayasaing, 23(2), 146–156. https://doi.org/10.23917/ dayasaing.v23i2.16015
Zhang, L. (2017). The investment CAPM. European Financial Management, 23(4), 545–603. https://doi.org/10.1111/eufm.12129
Zickar, M. J., & Keith, M. G. (2023). Innovations in Sampling: Improving the Appropriateness and Quality of Samples in Organizational Research. Annual Review of Organizational Psychology and Organizational Behavior, 10(7), 1–12. https://doi.org/10.1146/annurev-orgpsych-120920-052946
Cahya, B. T. (2019). Pengaruh Motivasi dan Kemajuan Teknologi Terhadap Minat Investasi Saham. Al-Masharif: Jurnal Ilmu Ekonomi Dan Keislaman, 7(2), 192–207. http://jurnal.iain-padangsidimpuan.ac.id/index.php/Al-masharif/ article/view/2182/1774
Hasan, N., Pelleng, F. A. O., & Mangindaan, J. V. (2019). Analisis Capital Asset Pricing Model (CAPM) Sebagai Dasar Pengambilan Keputusan Berinvestasi Saham (Studi pada Indeks Bisnis-27 di Bursa Efek Indonesia). Jurnal Administrasi Bisnis (JAB), 8(1), 36–43. https://doi.org/10.35797/ jab.v8.i1.36-43
Komara, E. F., & Yulianti, E. (2021). Analisis Saham Berdasarkan CAPM Pada Jakarta Islamic Indeks (JII) Periode 2014-2019. Nominal Barometer Riset Akuntansi Dan Manajemen, 10(1), 58–70. https://doi.org/10.21831/ nominal.v10i1.32286
Kristiana, A., Syaifulloh, M., & Riono, S. B. (2021). Analisa Faktor Faktor yang Mempengaruhi Kinerja Karyawan di RSU Islami Mutiara Bunda. Value: Jurnal Manajemen Dan Akuntansi, 16(1), 104–114.
Kurniawan, R. F., & Sari, H. M. K. (2023). Analysis of Optimal Portfolio Formation During the Covid-19 Pademic Using the Capital Asset Pricing Model (CAPM) Model for IDX-30 Shares in the 2020 Period. Indonesian Journal of Innovation Studies, 22(1), 10–21070. https://doi.org/10.21070/ijins.v22i.852
Nababan, L. U. (2019). Penerapan Model Regresi Data Panel pada Analisis Harga Saham Perusahaan Batubara. Akuntabel, 16(1), 81–97. https://doi.org/10.30872/jakt.v16i1.5383
Oeliestina, O. (2021). Analysis of The Effect of Pandemic Covid-19 on Economic Growth Using Mc Nemar Statistical Test. Jurnal Paradigma Ekonomika, 16(3), 503–516. https://doi.org/10.22437/jpe.v16i3.11242
Prayuga, R. S., Lubis, H., & Rahmah, D. D. N. (2022). Komunikasi Dari Mulut Ke Mulut Pada Media Elektronik Dengan Keputusan Investasi Saham Investor Saham Pemula. Psikoborneo: Jurnal Ilmiah Psikologi, 10(1), 191–200. https://doi.org/10.30872/psikoborneo
Putra, I. R., & Rinaldo, D. (2022). Analisis Perbandingan Saham-Saham Efisien dengan Metode CAPM Sebelum dan Setelah Pandemi Covid-19. Moneter-Jurnal Akuntansi dan Keuangan, 9(1), 66–74. https://doi.org/10.31294/ moneter.v9i1.12292
Safitri, A. M., & Wibisono, H. (2023). Pengaruh Pertumbuhan Perusahaan, Struktur Aset, Free Cash Flow dan Profitabilitas Terhadap Kebijakan Utang(Studi Empiris Perusahaan BUMN Terdaftar di BEI Tahun 2019–2021). JRMA (Jurnal Riset Manajemen dan Akuntansi), 11(1), 31–45. https://doi.org/10.33508/jrma.v11i1.1145
Setyawati, I., Molina, M., Muhani, M., & Huda, I. E. W. N. (2021). Kelayakan Investasi dengan Pendekatan Capital Asset Pricing Model Untuk Saham Kapitalisasi Terbesar di Bursa Efek Indonesia. Jurnal Kajian Ilmiah, 21(3), 329–340. https://ejurnal.ubharajaya.ac.id/index.php/JKI/article/view/722
Sudirman, S., & Alhudhori, M. (2018). Pengaruh Konsumsi Rumah Tangga, Investasi Terhadap Pertumbuhan Ekonomi Di Provinsi Jambi. Ekonomis: Journal of Economics and Business, 2(1), 81–91. http://dx.doi.org/10.33087/ ekonomis.v2i1.33
Susila, M. R. (2022). Causal Influence between the JSX Composite Index and the FTSE Straits Times Index in Time Series. Jurnal Ekonomi Pembangunan, 21(02), 113–123. https://doi.org/10.22219/jep.v21i02.22451
Susila, M. R. (2023). The Role of Work Engagement In Mediating The Effect of Job Characteristics and Compensation on Performance. Asian Management and Business Review, 3(1), 60–73. https://doi.org/10.20885/AMBR.vol3.iss1.art6
Susila, M. R., Jamil, M., & Santoso, B. H. (2022). Analisis Dampak COVID-19 dan Faktor-Faktor yang Mempengaruhi Indeks Saham Bank Jatim Menggunakan Pendekatan Regresi Time Series. Jambura Journal of Mathematics, 4(2), 220–231. https://doi.org/10.34312/jjom.v4i2.13401
Susila, M. R., Putri, R. C., & Arini, D. (2020). Pemodelan Regresi Spasial Investasi Luar Negeri yang Masuk ke Indonesia. BAREKENG: Jurnal Ilmu Matematika Dan Terapan, 14(4), 543–556. https://doi.org/10.30598/barekengvol14iss4 pp543-556
Wardono, D. U., Putra, K. A. I., Hakim, A. L., & Aji, S. (2023). Analisis Tingkat Risiko Dan Expected Return Menggunakan Capital Asset Pricing Model (CAPM) Terhadap Keputusan Berinvestasi (Studi Pada IDX High Dividend 20 Di Bursa Efek Indonesia). Jurnal Pendidikan Dan Konseling (JPDK), 5(1), 4174–4180. https://doi.org/10.31004/jpdk.v5i1.11681
Winarto, W. W. A. (2022). Analisis Komparasi Kinerja Saham yang Terdaftar di Jakarta Islamic Indeks Sebelum dan Selama Pandemi COVID-19. Jurnal Manajemen Dayasaing, 23(2), 146–156. https://doi.org/10.23917/ dayasaing.v23i2.16015
Zhang, L. (2017). The investment CAPM. European Financial Management, 23(4), 545–603. https://doi.org/10.1111/eufm.12129
Zickar, M. J., & Keith, M. G. (2023). Innovations in Sampling: Improving the Appropriateness and Quality of Samples in Organizational Research. Annual Review of Organizational Psychology and Organizational Behavior, 10(7), 1–12. https://doi.org/10.1146/annurev-orgpsych-120920-052946
Published
2023-07-30
How to Cite
SUSILA, Muktar Redy.
Dampak COVID-19 Terhadap Hasil Analisis Kelayakan Investasi pada Saham Perusahaan BUMN.
E-Jurnal Akuntansi, [S.l.], v. 33, n. 7, p. 1796-1808, july 2023.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/99312>. Date accessed: 12 may 2024.
doi: https://doi.org/10.24843/EJA.2023.v33.i07.p08.
Issue
Section
Artikel
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
