Lampiran 1
Daftar Perusahaan Manufaktur Periode 2010-2013
NO
KODE
NAMA PERUSAHAAN
KRITERIA
85
PRAS
Prima Alloy Steel Universal
x
92
SCCO
Supreme Cable Manufacturing &
Commerce
114
ULTJ
Ultrajaya Milk Industry &
Lampiran2
Hasil Estimasi Uji housman
Correlated Random Effects - Hausman Test Pool: Untitled
Test cross-section random effects
Test Summary
Chi-Sq.
Statistic Chi-Sq. d.f. Prob.
Cross-section random 0.019226 3 0.7748
Cross-section random effects test comparisons:
Variable Fixed Random Var(Diff.) Prob.
FCF? 0.000150 0.000012 0.000000 0.5334
DPR? 0.000204 0.000218 0.000000 0.9635
ROE? 0.007356 -0.001727 0.000111 0.3882
Cross-section random effects test equation: Dependent Variable: DER?
Method: Panel Least Squares Date: 10/11/15 Time: 20:54 Sample: 2012 2013
Included observations: 2 Cross-sections included: 35
Total pool (balanced) observations: 70
Variable Coefficient Std. Error t-Statistic Prob.
C 85.95741 34.55414 2.487616 0.0183
FCF? 0.000150 0.000287 0.521516 0.6056
DPR? 0.000204 0.000451 0.451973 0.6543
ROE? 0.007356 0.014618 0.503243 0.6182
Effects Specification
Cross-section fixed (dummy variables)
Lampiran 3
Redundant Fixed Effects
Redundant Fixed Effects Tests Pool: Untitled
Test cross-section fixed effects
Effects Test Statistic d.f. Prob.
Cross-section F 1.061514 (34,32) 0.4339
Cross-section Chi-square 52.858114 34 0.0206
Cross-section fixed effects test equation: Dependent Variable: DER?
Method: Panel Least Squares Date: 10/28/15 Time: 17:25 Sample: 2012 2013
Included observations: 2 Cross-sections included: 35
Total pool (balanced) observations: 70
Variable Coefficient Std. Error t-Statistic Prob.
C 108.7529 27.47796 3.957823 0.0002
FCF? 6.71E-06 0.000181 0.037170 0.9705
DPR? 0.000224 0.000314 0.711794 0.4791
ROE? -0.002224 0.009983 -0.222754 0.8244
Lampiran 4
Data Deskritif
DER? FCF? DPR? ROE?
Mean 108.0857 49468.84 12097.79 1666.171
Median 43.00000 4647.000 77.50000 876.5000
Maximum 1012.000 713749.0 696457.0 13746.00 Minimum 2.000000 20.00000 5.000000 1.000000 Std. Dev. 176.8574 120328.0 83487.86 2623.374 Skewness 3.477958 3.559676 8.040289 3.373526 Kurtosis 16.58589 16.74901 66.38268 14.90599
Jarque-Bera 679.4701 699.1848 12471.52 546.2195 Probability 0.578358 0.538290 0.642937 0.090641
Sum 7566.000 3462819. 846845.0 116632.0
Sum Sq. Dev. 2158219. 9.99E+11 4.81E+11 4.75E+08
Observations 70 70 70 70
Lampiran 5
Hasil Estimasi Random Efek Model (REM)
Dependent Variable: DER?
Method: Pooled EGLS (Cross-section random effects) Date: 10/11/15 Time: 21:12
Sample: 2012 2013 Included observations: 2 Cross-sections included: 35
Total pool (balanced) observations: 70
Swamy and Arora estimator of component variances
White cross-section standard errors & covariance (d.f. corrected) WARNING: estimated coefficient covariance matrix is of reduced rank
Variable Coefficient Std. Error t-Statistic Prob.
C 107.7104 24.63139 4.372893 0.0000
FCF? 1.23E-05 0.000151 0.082028 0.9349
DPR? 0.000218 5.50E-05 3.973043 0.0002
ROE? -0.001727 0.003761 -0.459198 0.6476
Random Effects (Cross)
_INTP—C 1.659178
_UNVR—C -7.029583
_SMCB—C -7.109185
_SMGR—C -7.209641
_AMFG--C -9.119749
_ARNA--C -9.859349
_UNIC--C -8.273024
_KIAS--C 2.560398
_MLIA--C -1.012996
_TOTO--C -10.25246
_ALKA--C -10.23343
_ALMI--C 9.461017
_BTON--C 8.042683
_TSPC--C 45.40306
_TKIM--C -1.268833
_TCID--C -7.374912
_SMSM--C -5.260347
_MLBI--C -8.258595
_JKSW--C 1.625348
_JPRS--C -8.376135
_KRAS--C -4.266486
_LION--C 16.87914
_MERK--C 8.966138
_MYRX--C 7.055363
_NIKL--C 0.993065
_PICO--C -6.889938
_TBMS--C -2.991809
_BRPT--C -4.804007
_MAIN--C -9.537489
_DPNS--C -10.55513
_EKAD--C 55.45581
_TRST--C 3.695180
_INCI--C -8.716732
_SRSN--C -4.450831
Effects Specification
S.D. Rho
Cross-section random 44.61439 0.0596
Idiosyncratic random 177.2931 0.9404
Weighted Statistics
R-squared 0.208314 Mean dependent var 101.8297 Adjusted R-squared 0.136763 S.D. dependent var 171.6091 S.E. of regression 174.7351 Sum squared resid 2015134. F-statistic 0.184432 Durbin-Watson stat 1.979676 Prob(F-statistic) 0.906622
Unweighted Statistics
