Academic Journal of Economic Studies

30–43

Authors: Ela Mahdaleta, Iskandar Muda, Gusnardi Muhammad Nasir

This study aims to determine the effect of capital structure and profitability on the corporate value by company size as the moderating variable on manufacturing companies listed on Indonesia Stock Exchange from 2012 to 2014. Variables used in this research are the Capital Structure and Profitability as independent variables, company size as moderating variable and corporate value as the dependent variable. The corporate value in this study was measured using price to book value. This study was performed on manufacturing companies listed on the Indonesia Stock Exchange. This study was conducted on 46 companies that meet the sampling criteria of 135 companies listed on the Indonesia Stock Exchange. The research data were secondary data from the financial statements of 46 companies published in the Indonesia Stock Exchange. The data processing method in this study used multiple linear regression tests and moderating test using residual test by testing classical assumption test beforehand. The results show independent variables have simultaneous significant influence on the corporate value. Meanwhile, partially, Debt to equity ratio has significant negative effect on corporate value, and Return on assets has significant positive effect on corporate value. The moderating test result shows that company size is unable to partially moderate the relationship of debt to equity ratio on the corporate value, and unable to partially moderate the relationship of return on assets on the corporate value.

55–63

Authors: Muslich Lutfi, Jessi Arsitha

The purpose of this research is to find out and analyze the effect of factors affecting price earning ratio on the shares registered in Jakarta Islamic Index. It is a causal research, a causality research which is based on the observation on the effects and the causing factors through some particular data. The data used were secondary data. This research used 48 observations as the research samples obtained based on certain criteria. The hypothesis was tested by using F-Test(Simultaneous Test), T-Test (Partial Test). The results showed that, partially, the Total Assets and Debt to Equity have significant effects to the Price Earning Ratio on the shares registered in Jakarta Islamic Index. Meanwhile, the Dividend Payout Ratio has no effect to Price Earning Ratio on the shares registered in Jakarta Islamic Index.

74–95

Authors: Tasew Tadesse, Jaswinder Singh Brar

Ethiopia’s exports grew by more than 700% in real terms between 1995 and 2014. For a landlocked country depending much on primary products and with little success in export diversification, the growth recorded over the past two decades is no mean feat. In this study we assessed the sources of this rapid export growth during the post-reform period of 1995-2014. We employed a refined version of the constant market shares model that overcomes the “order-problem” and the “index number problem” inherent in its “traditional” formulation. Our decomposition exercise reveals the importance of two key factors as drivers of Ethiopia’s export growth: the growth in total world trade and improvements in Ethiopian competitiveness. While the geographic distribution of the country’s exports has been favorable, an unpleasant outcome is that the composition of the country’s exports has been slowing down the growth of its exports over the past two decades.

104–124

Authors: Bambang Bemby Soebyakto, Mutmainna

This study aimed to analyze the factors that affect the income of migrant traders in the informal sector who do commuting of Tanah Mas village to the Palembang city. This research was done using descriptive quantitative primary data. This research was conducted at the Tanah Mas village. Populations of migrant populations who do commuting are 398 people. Proportional stratified random sampling is selected to determine of sample. Samples are 100 migrants’ commuter traders. Multiple regression analysis was used to measure the effect of independent variables (marital status, number of family, length of work, mode of transportation, type of merchandise, and motivation of commuter traders) on the dependent variable (commuter trader income). The study found that marital status, number of family, length of work, mode of transportation, type of merchandise, and motivation commuter traders have significantly affect to migrant income the Tanah Mas village to Palembang city. Partially, the number of family, mode of transportation, and the type of merchandise have significantly affect to commuter traders income, whereas marital status, length of work, and motivation commuter trader have not significantly affect the commuter trader income.

141–152

Authors: Tianhao Wu

t While firm-level and micro issue analysis become an important part in research of international trade, only a few work is concerned about the goodness-of-fit for size distribution of firms. In this paper, we revisit the statistical aspects of firm productivity and sales revenue, in order to compare different definitions of statistical distances. We first deduce the exact form of size distribution of firms by only implementing the assumptions of productivity and demand function, and then introduce the famous g-divergence as well as its statistical implications. We also do the simulation and calibration so as to compare those different divergences, moreover, tests the combined assumptions. We conclude that minimizing Pearson χ2 and Neyman χ2 produces similar results and minimizing Kullback-Leibler divergence is likely to take the expense of other distance measures. Additionally, selection among different statistical distances is much more significant than demand functions.