Jeudi Sianturi | Satya Wacana Christian University (original) (raw)

Papers by Jeudi Sianturi

Majalah Ilmiah Methoda, Dec 31, 2022

The purpose of this research is to examine the role of a company's growth-oriented dividend polic... more The purpose of this research is to examine the role of a company's growth-oriented dividend policy in mediating financial effectiveness on firm value. Profitability which shows the financial condition of a company does not have a consistent effect on company value. To fill this gap, it is proposed to implement a dividend policy on company growth as a mediator of the impact of profitability on firm value. Therefore, a sample of all quality manufacturing companies listed on the Indonesia Stock Exchange for the period 2010-2017 was analyzed in its Warpls 5.0. The results achieved indicate that the dividend policy implemented for company growth can have a profitability impact on increasing company value. These results support signaling theory and the Pecking Order theory that profitability as an indicator of financial performance can further increase firm value by implementing a dividend policy that is committed to company growth.

Majalah Ilmiah Methoda, Aug 31, 2022

The purpose of this study was to determine the role of dividend policy in mediating the effect of... more The purpose of this study was to determine the role of dividend policy in mediating the effect of financial performance on firm value. The samples used in this study were all manufacturing companies listed on the Indonesia Stock Exchange for the period 2010-2018 that had met the criteria. Profitability as one of the confirmed financial performances has inconsistent effects on firm value. To overcome this inequality, dividend policy is proposed as an intervening variable. The results show that dividend policy can mediate the effect of profitability on firm value. This finding supports the signaling theory and proves that financial performances as measured by profitability ratios can further increase firm value by optimizing its dividend policy.

Majalah Ilmiah Methoda, Apr 30, 2021

This study aims to determine the effect of service quality and price on Okejek's customer satisfa... more This study aims to determine the effect of service quality and price on Okejek's customer satisfaction (Case Study on the Medan Perjuangan District). The sample used in this study was 100 respondents using a questionnaire. From the results of multiple regression analysis, the service quality variable has a positive effect on customer satisfaction, the price variable has a negative effect on customer satisfaction. From the t-test results, the service quality variable is significant to customer satisfaction, the price variable is not significant to customer satisfaction. Based on the results of the F test, the variables of service quality and price together have a significant effect on customer satisfaction. From the results of testing the coefficient of determination R2, service quality and price variables can explain customer satisfaction of 66.4% while the remaining 33.6% is explained by variables not examined.

Jurnal Pengabdian Pada Masyarakat METHABDI

Micro, Small and Medium Enterprises (MSMEs) are the sectors that make the greatest contribution t... more Micro, Small and Medium Enterprises (MSMEs) are the sectors that make the greatest contribution to Indonesia's economic growth. This is due to the large number of MSMEs in Indonesia, especially North Sumatra. The presence of a large number of SMEs can create jobs and absorb labor for the environment. Micro, Small and Medium Enterprises (MSMEs) are located in Sidomulyo Village, Medan Tuntungan District, Deli Serdang Regency. MSMEs are engaged in the food and beverage sector and sell coffee, snacks and heavy meals. The facilities offered are similar to coffee shops, but simpler. MSMEs in Sidomulyo Village, Medan Tuntungan District, Deli Serdang Regency, try to limit themselves to the age of over 18 years. The implementation method used in this community service is to analyze the condition of partners, make designs, and carry out the required program planning. After all program planning is carried out, training is carried out, which is then accompanied by assistance until partners ...

Jurnal Pengabdian Pada Masyarakat METHABDI

Increasing people's income can be done with various approaches, by conducting training for th... more Increasing people's income can be done with various approaches, by conducting training for the community. Conducting training for mothers who are members of the Peaceful Prosperous Self-help Agency (BKM) in Sukaraja Village – Medan Maimun District. Through training in making liquid soap, it is hoped that it will increase human resources who are able to rely on their own strength. The purpose of this training is to make your own liquid laundry soap and motivate mothers so they can increase their income. The results obtained were that the enthusiasm of the participants was extraordinary and hoped that the training activities would continue to be carried out.

Jurnal Pengabdian Pada Masyarakat METHABDI

Community Service (PkM) was carried out by the Indonesian Methodist University by providing an ap... more Community Service (PkM) was carried out by the Indonesian Methodist University by providing an application in the form of a marketplace for MSMEs in Lumban Pea Timur Village. This marketplace is designed to suit the needs of the community and MSME actors in the village. This PkM was held on June 9, 2022 in collaboration with the Department of Industry, Trade and Cooperatives (PERINDAGKOP) of Toba Regency and invited several representatives of SMEs in Lumban Pea Timur Village. The method used is to explain the use of the marketplace and how to use it. Furthermore, MSME actors are given the opportunity to ask questions about the use of the marketplace. The results of the PkM with the application of the marketplace in East Lumban Pea Village are very effective in helping to increase marketing, sales of regional products and the regional economy of Toba Regency, especially East Lumban Pea Village. In addition, the community also gets a positive impact, namely increasing knowledge about ...

Jurnal Pengabdian Pada Masyarakat METHABDI

Community service aims to provide guidance to teachers in carrying out the tasks of the teaching ... more Community service aims to provide guidance to teachers in carrying out the tasks of the teaching and learning process. In this case, the method used is the lecture, discussion, and question and answer method. Through this, many inputs were obtained, including the characteristics of quality schools and of course quality human resources are needed, especially with the Covid 19 pandemic that has hit the city of Medan and the world in general. Quality school management starts from the principal, teachers, investment in finance and adequate infrastructure.

Majalah Ilmiah METHODA, 2021

This article describes the influence of the role of competitive advantage in mediating the effect... more This article describes the influence of the role of competitive advantage in mediating the effect of financial performance on firm value. Companies that are included in the Sharia Securities List and listed on the Indonesia Stock Exchange for the 2014-2019 period will be used as samples in this study. One of the financial performance variables, namely profitability as measured by using ROA (return on assets) indicates an inconsistency in the relationship between profitability and firm value. To overcome this, a competitive advantage mediating variable is proposed. The results showed that competitive advantage was able to mediate the effect of financial performance on firm value. Overall, these findings support the RBV theory and signaling theory. Companies that are capable of generating profits should increase their competitiveness in order to further increase the value of the company.

Management Science Letters, 2020

This paper aims to investigate the relationship between managerial opportunistic behavior and the... more This paper aims to investigate the relationship between managerial opportunistic behavior and the value of manufacturing companies listed on the Indonesia Stock Exchange, using two different indicators of company value. The first indicator looks at the value of the company from a less than ideal size and other indicators view the value of the company from the ideal size. By using 320 observations, the results of this study found evidence that managerial opportunistic behavior that is proxied by free cash flow plays a role in influencing the overvalued equity proxied by market books. Likewise, free cash flow plays an important role on influencing Tobin q. This study also establishes an indirect relationship of free cash flow to overvalued equity and Tobin q which is mediated by dividend policy. Empirical results show that dividend policy mediates the effect of free cash flow on overvalued equity and also Tobin q partially.

Majalah Ilmiah METHODA

This study aims to examine the contribution of dividend policy in mediating the effect of financi... more This study aims to examine the contribution of dividend policy in mediating the effect of financial effectiveness on firm value. The sample used is a manufacturing company listed on the Indonesia Stock Exchange for a period of time starting from 2010-2017 with reference to the sample criteria that have been set. Empirical results prove that dividend policy partially mediates the effect of financial effectiveness (ROA) and firm size (Ln TA) on firm value (Tobin q). This study provides additional support for agency theory and signalling theory.

Buying high quality assets without paying premium prices is just as much value investing as buyin... more Buying high quality assets without paying premium prices is just as much value investing as buying average quality assets at discount prices. Strategies that exploit the quality dimension of value can be profitable on their own, and accounting for both dimensions of value yields dramatic performance improvements over traditional value strategies. Attention to quality, helps traditional value investors distinguish bargain stocks (i.e., those that are undervalued) from value traps (i.e., those that are cheap for good reasons), and generates significant abnormal returns. In this study, an investment strategies based on Grantham’s quality criteria on investing namely, “high return, stable return, and low debt”, is applied to analyze the performance of shari’ah complaints, and compared to F-score investment criteria (Piotroski, 2000) by conducting t-tests on the cumulative returns. The finding indicated that F-score outperformed shari’ah portfolio.

This study aimed to test the concept of managerial opportunistic behavior in the perspective of a... more This study aimed to test the concept of managerial opportunistic behavior in the perspective of agency theory, as one of the causes of overvalued equity. Their relationship will also be further strengthened by their managerial stock ownership and dividend policy. Research related to opportunistic managerial behavior and overvalued equity is still very limited, especially newly done in developed countries with the object of research involving several industrial sectors. This study takes the object at the manufacturing companies in Indonesia to determine the impact of opportunistic managerial behavior on overvalued equity, and also the role of managerial ownership and dividend policy in managerial opportunistic behavior and overvalued equity relationship.

Journal of Environmental Management and Tourism

The paper is written as an empirical test on the indirect effect of Commissioner Board Monitoring... more The paper is written as an empirical test on the indirect effect of Commissioner Board Monitoring on firm performance through environmental performance as mediation variable. Research sample is non-financial firms that participate into Performance Assessment Program (PROPER) and that also list at Indonesian Stock Exchange. Commissioner Board Monitoring consists of few attributes such as: Commissioner Board Size, Independent Commissioner Board, and Commissioner Board’s Frequency of Meeting. Environmental performance is measured with the use of PROPER by the Ministry of Life Environment and Forestry for Indonesian Republic. Firm performance is proxied with Return on Asset (ROA) and Tobin’s Q. Research gains some results. Commissioner Board Monitoring has a positive effect on both environmental performance and firm performance. Environmental performance has a positive effect on firm performance. Commissioner Board Size has an indirect effect on firm performance through environmental pe...

Majalah Ilmiah Methoda, Dec 31, 2022

The purpose of this research is to examine the role of a company's growth-oriented dividend polic... more The purpose of this research is to examine the role of a company's growth-oriented dividend policy in mediating financial effectiveness on firm value. Profitability which shows the financial condition of a company does not have a consistent effect on company value. To fill this gap, it is proposed to implement a dividend policy on company growth as a mediator of the impact of profitability on firm value. Therefore, a sample of all quality manufacturing companies listed on the Indonesia Stock Exchange for the period 2010-2017 was analyzed in its Warpls 5.0. The results achieved indicate that the dividend policy implemented for company growth can have a profitability impact on increasing company value. These results support signaling theory and the Pecking Order theory that profitability as an indicator of financial performance can further increase firm value by implementing a dividend policy that is committed to company growth.

Majalah Ilmiah Methoda, Aug 31, 2022

The purpose of this study was to determine the role of dividend policy in mediating the effect of... more The purpose of this study was to determine the role of dividend policy in mediating the effect of financial performance on firm value. The samples used in this study were all manufacturing companies listed on the Indonesia Stock Exchange for the period 2010-2018 that had met the criteria. Profitability as one of the confirmed financial performances has inconsistent effects on firm value. To overcome this inequality, dividend policy is proposed as an intervening variable. The results show that dividend policy can mediate the effect of profitability on firm value. This finding supports the signaling theory and proves that financial performances as measured by profitability ratios can further increase firm value by optimizing its dividend policy.

Majalah Ilmiah Methoda, Apr 30, 2021

This study aims to determine the effect of service quality and price on Okejek's customer satisfa... more This study aims to determine the effect of service quality and price on Okejek's customer satisfaction (Case Study on the Medan Perjuangan District). The sample used in this study was 100 respondents using a questionnaire. From the results of multiple regression analysis, the service quality variable has a positive effect on customer satisfaction, the price variable has a negative effect on customer satisfaction. From the t-test results, the service quality variable is significant to customer satisfaction, the price variable is not significant to customer satisfaction. Based on the results of the F test, the variables of service quality and price together have a significant effect on customer satisfaction. From the results of testing the coefficient of determination R2, service quality and price variables can explain customer satisfaction of 66.4% while the remaining 33.6% is explained by variables not examined.

Jurnal Pengabdian Pada Masyarakat METHABDI

Micro, Small and Medium Enterprises (MSMEs) are the sectors that make the greatest contribution t... more Micro, Small and Medium Enterprises (MSMEs) are the sectors that make the greatest contribution to Indonesia's economic growth. This is due to the large number of MSMEs in Indonesia, especially North Sumatra. The presence of a large number of SMEs can create jobs and absorb labor for the environment. Micro, Small and Medium Enterprises (MSMEs) are located in Sidomulyo Village, Medan Tuntungan District, Deli Serdang Regency. MSMEs are engaged in the food and beverage sector and sell coffee, snacks and heavy meals. The facilities offered are similar to coffee shops, but simpler. MSMEs in Sidomulyo Village, Medan Tuntungan District, Deli Serdang Regency, try to limit themselves to the age of over 18 years. The implementation method used in this community service is to analyze the condition of partners, make designs, and carry out the required program planning. After all program planning is carried out, training is carried out, which is then accompanied by assistance until partners ...

Jurnal Pengabdian Pada Masyarakat METHABDI

Increasing people's income can be done with various approaches, by conducting training for th... more Increasing people's income can be done with various approaches, by conducting training for the community. Conducting training for mothers who are members of the Peaceful Prosperous Self-help Agency (BKM) in Sukaraja Village – Medan Maimun District. Through training in making liquid soap, it is hoped that it will increase human resources who are able to rely on their own strength. The purpose of this training is to make your own liquid laundry soap and motivate mothers so they can increase their income. The results obtained were that the enthusiasm of the participants was extraordinary and hoped that the training activities would continue to be carried out.

Jurnal Pengabdian Pada Masyarakat METHABDI

Community Service (PkM) was carried out by the Indonesian Methodist University by providing an ap... more Community Service (PkM) was carried out by the Indonesian Methodist University by providing an application in the form of a marketplace for MSMEs in Lumban Pea Timur Village. This marketplace is designed to suit the needs of the community and MSME actors in the village. This PkM was held on June 9, 2022 in collaboration with the Department of Industry, Trade and Cooperatives (PERINDAGKOP) of Toba Regency and invited several representatives of SMEs in Lumban Pea Timur Village. The method used is to explain the use of the marketplace and how to use it. Furthermore, MSME actors are given the opportunity to ask questions about the use of the marketplace. The results of the PkM with the application of the marketplace in East Lumban Pea Village are very effective in helping to increase marketing, sales of regional products and the regional economy of Toba Regency, especially East Lumban Pea Village. In addition, the community also gets a positive impact, namely increasing knowledge about ...

Jurnal Pengabdian Pada Masyarakat METHABDI

Community service aims to provide guidance to teachers in carrying out the tasks of the teaching ... more Community service aims to provide guidance to teachers in carrying out the tasks of the teaching and learning process. In this case, the method used is the lecture, discussion, and question and answer method. Through this, many inputs were obtained, including the characteristics of quality schools and of course quality human resources are needed, especially with the Covid 19 pandemic that has hit the city of Medan and the world in general. Quality school management starts from the principal, teachers, investment in finance and adequate infrastructure.

Majalah Ilmiah METHODA, 2021

This article describes the influence of the role of competitive advantage in mediating the effect... more This article describes the influence of the role of competitive advantage in mediating the effect of financial performance on firm value. Companies that are included in the Sharia Securities List and listed on the Indonesia Stock Exchange for the 2014-2019 period will be used as samples in this study. One of the financial performance variables, namely profitability as measured by using ROA (return on assets) indicates an inconsistency in the relationship between profitability and firm value. To overcome this, a competitive advantage mediating variable is proposed. The results showed that competitive advantage was able to mediate the effect of financial performance on firm value. Overall, these findings support the RBV theory and signaling theory. Companies that are capable of generating profits should increase their competitiveness in order to further increase the value of the company.

Management Science Letters, 2020

This paper aims to investigate the relationship between managerial opportunistic behavior and the... more This paper aims to investigate the relationship between managerial opportunistic behavior and the value of manufacturing companies listed on the Indonesia Stock Exchange, using two different indicators of company value. The first indicator looks at the value of the company from a less than ideal size and other indicators view the value of the company from the ideal size. By using 320 observations, the results of this study found evidence that managerial opportunistic behavior that is proxied by free cash flow plays a role in influencing the overvalued equity proxied by market books. Likewise, free cash flow plays an important role on influencing Tobin q. This study also establishes an indirect relationship of free cash flow to overvalued equity and Tobin q which is mediated by dividend policy. Empirical results show that dividend policy mediates the effect of free cash flow on overvalued equity and also Tobin q partially.

Majalah Ilmiah METHODA

This study aims to examine the contribution of dividend policy in mediating the effect of financi... more This study aims to examine the contribution of dividend policy in mediating the effect of financial effectiveness on firm value. The sample used is a manufacturing company listed on the Indonesia Stock Exchange for a period of time starting from 2010-2017 with reference to the sample criteria that have been set. Empirical results prove that dividend policy partially mediates the effect of financial effectiveness (ROA) and firm size (Ln TA) on firm value (Tobin q). This study provides additional support for agency theory and signalling theory.

Buying high quality assets without paying premium prices is just as much value investing as buyin... more Buying high quality assets without paying premium prices is just as much value investing as buying average quality assets at discount prices. Strategies that exploit the quality dimension of value can be profitable on their own, and accounting for both dimensions of value yields dramatic performance improvements over traditional value strategies. Attention to quality, helps traditional value investors distinguish bargain stocks (i.e., those that are undervalued) from value traps (i.e., those that are cheap for good reasons), and generates significant abnormal returns. In this study, an investment strategies based on Grantham’s quality criteria on investing namely, “high return, stable return, and low debt”, is applied to analyze the performance of shari’ah complaints, and compared to F-score investment criteria (Piotroski, 2000) by conducting t-tests on the cumulative returns. The finding indicated that F-score outperformed shari’ah portfolio.

This study aimed to test the concept of managerial opportunistic behavior in the perspective of a... more This study aimed to test the concept of managerial opportunistic behavior in the perspective of agency theory, as one of the causes of overvalued equity. Their relationship will also be further strengthened by their managerial stock ownership and dividend policy. Research related to opportunistic managerial behavior and overvalued equity is still very limited, especially newly done in developed countries with the object of research involving several industrial sectors. This study takes the object at the manufacturing companies in Indonesia to determine the impact of opportunistic managerial behavior on overvalued equity, and also the role of managerial ownership and dividend policy in managerial opportunistic behavior and overvalued equity relationship.

Journal of Environmental Management and Tourism

The paper is written as an empirical test on the indirect effect of Commissioner Board Monitoring... more The paper is written as an empirical test on the indirect effect of Commissioner Board Monitoring on firm performance through environmental performance as mediation variable. Research sample is non-financial firms that participate into Performance Assessment Program (PROPER) and that also list at Indonesian Stock Exchange. Commissioner Board Monitoring consists of few attributes such as: Commissioner Board Size, Independent Commissioner Board, and Commissioner Board’s Frequency of Meeting. Environmental performance is measured with the use of PROPER by the Ministry of Life Environment and Forestry for Indonesian Republic. Firm performance is proxied with Return on Asset (ROA) and Tobin’s Q. Research gains some results. Commissioner Board Monitoring has a positive effect on both environmental performance and firm performance. Environmental performance has a positive effect on firm performance. Commissioner Board Size has an indirect effect on firm performance through environmental pe...