Thesis Defence of Doctoral in Economy : Darmadi and Rowland Bismark Fernando Psaribu
Doctoral Program Gunadarma University Conducted Doctoral thesis defense in Economy on October† 14th 2016 in the Auditorium of the University Campus D Gunadarma Jl. Margonda Raya, Pondok Cina Depok.
Beginning with promovendus Darmadi with a dissertation entitled "Evaluation of Economic Potential Regency / City in West Java province as Area Leading Method Using Klassen Typology, Location Quotient and Shift Share", the supervising commission Prof. Dr. Nopirin, MA as a promoter and Dr. rer.pol. Sudaryanto, MSc as copromoter.
This study aims† at measuring, identifying, assesing† and analyzing the economic potential of each regency /municipality West Java Province and their† implications for economic development in the future.
The Object of the research consisted of 26 regencies or municipalities in the West Java province by using secondary data sourced from the Central Statistics Agency (BPS) during the period of 2004- 2013. The economic potential of the region can be based on the classification the by regencies /municipalities,†††† the leading sectors, and the shifting the structure of† its economic sectors. Klassen Typology analysis is used to determine the classification of by regencies /municipalities† into groups according to their characteristics. Determination of the leading sectors performed using Location Quotient (LQ). Shift Share analysis was used to evaluate the sectoral shifts that occurred during the period of the study.
Klassen Typology analysis resulted four regional groups based on their level of income and economic growth : high growth and high income, high income but low growth, high growth but low income, low growth and low income.
Then, in a dissertation titled "The Effect of Market Risk, Market Capitalization Companies, Risk Distress, Momentum and Value Risk to Yield Portfolio: Stocks Empirical Study of Liquid-45 In Indonesia Stock Exchange", where the purpose of the research is to test and analyze:
a) the effect of market risk, the market capitalization of the company, distress-risk, momentum, and the value of the stock portfolio returns on asset pricing model and the five factors;
b) implementing the investment strategy as the basis for determining the value of shares forming the portfolio and the most effective combination of time, namely the formation time and holding time in form of the most efficient portfolio with the highest return.
The object of this study is the issuers listed on the index-LQ45 on the Indonesian stock exchange 2009-2013. Forty-two companies selected in the sample based on the specified criteria. Data were obtained from the publication of stock prices, interest rates SBI, and the sample performance derived from a sample website, bank Indonesia, yahoo.finance, and the Indonesian stock exchange. The analysis technique used is multiple regression.
Testing value-risk as a risk factor in five factors asset pricing model resulting that all five proxy for the risk (market risk, firmís market capitalization, distress risk, momentum, and value-risk) simultaneously and separately effect on stock portfolio returns.
This second promovendus dissertation Rowland Bismark Fernando Psaribu with promoter Prof. Dr. Nopirin, MA and Toto Sugiharto, Ir., MSc., PhD as kopromotor testing value-risk as a risk factor in asset pricing model of five factors, the result that all five proxy for the risk that the premium market, the company's market capitalization, book to market equity, momentum, and value-risk simultaneously and separately influence the yields on stock portfolios. While value-risk as a portfolio investment strategy indicates both had chances to make a profit, but the average profit growth portfolio outperformed the portfolio value.
Based on the results of the second senate meeting promovendus Darmadi passed with honors satisfactory and promovendus Rowland Bismark Fernando Psaribu cum laude.