DAFTAR ISI VOLUME 20 NO. 2 MEI 2016

• KEUANGAN

 

– Analysis of Factors Affecting The Capital Structure and Profitability In Indonesian’s Manufacturing Company Year 2009 – 2013

20216_Hamidah

– Inovasi, Pertumbuhan, Ukuran dan Nilai Perusahaan Farmasi di Indonesia

20216_Mursalim Nohong

– Manajemen Laba Menggunakan Classification Shifting dan Kualitas Audit

20216_Debbianita, Sylvia Veronica Siregar, Desi Adhariani

– Struktur Modal, Investment Opportunity Set, Likuiditas  dan Nilai Perusahaan

20216_Lia Uzliawati, Nana Nofianti, Dwi Putri Ratnasari

– Nilai Tukar Rupiah dan Kinerja Pasar Saham:  Studi Empirik pada Bursa Saham Indonesia

20216_ Siti Saadah

– Pemeriksaan Pajak dan Sanksi Pajak terhadap Kepatuhan Wajib Pajak Badan pada KPP Kepanjen Kabupaten Malang

20216_Pujo Gunarso

– Pelemahan Rupiah: Manajemen Nilai Tukar Indonesia dan Pelajaran Dari Masa Lalu

20216_ Sonny Harry B Harmadi

– Pengaruh Faktor Makro Ekonomi dan Pertumbuhan Perusahaan Terhadap Leverage dan Nilai  Perusahaan

20216_ Sujoko

– Uji Integrasi dan Contagion Effect Pasar Modal Pada Lima Negara Asean (Riset Empiris Pasca Terjadinya Krisis Subprime Mortgage Dan Krisis Yunani)

20216_Tarsisius Renald Suganda,Yonatan Soetrisno

– Strategi Sistem Audit Internal Pemerintah dalam Rangka Tata Kelola  yang Baik

20216_Maliki Heru Santosa, Syamsul Maarif, Eriyatno, Trias Andati

• PERBANKAN

 

– Maksimalisasi Nilai Perbankan Syariah Melalui Teknologi Pelayanan Nasabah Terkini

20216_Fani Firmansyah, Putri Kurnia Widiati

– Daya Saing Bank Syariah di Sebuah Negara Religius: Temuan Empirik dari Indonesia

20216_Tastaftiyan Risfandy, Putri Permatasari Husa, Andi Asrihapsari

– Loan Portfolio Composition and Performance Of Indonesian Banks: Does Ownership Matter?

20216_Apriani Dorkas Rambu Atahau

– Dampak Terukur Fasilitas Kredit Usaha Mikro Pola Tanggung Renteng Sebagai Alat Pembetuk Lending Model Bagi Usaha Mikro Pemula Dan Program Pendanaan Berkelanjutan

20216_ Sunardi, Lita Dwipasari

– Implementasi Model Penilaian Kinerja Berbasis Knowledge Management Score Card Guna Meningkatkan Kualitas dan Kemandirian Lembaga Keuangan Mikro “BKAD” di Jawa Timur

20216_Yuntawati Fristin , Fajar Supanto, Umu Khouroh

– Indonesia Public Banks Performance Evaluation Using Fuzzy Logic

20216_Sugiarto, Tumpal Pandiangan

DAFTAR ISI Volume 20 No.1 Januari 2016

• KEUANGAN

 

– Pengaruh Kinerja Perusahaan, Corporate Governance, dan Karakteristik Eksekutif terhadap Kompensasi Eksekutif

20116_Suherman, Yoseph Y.P. Pardede, & Umi Mardiyati

– Pengaruh Struktur Modal terhadap Kinerja Keuangan Perusahaan

20116_Achmad Komara, Sri Hartoyo, & Trias Andati

– Pengaruh Rasio Keuangan dan Perubahan Pajak Dividen terhadap Dividend Payout Ratio Perusahaan Terbuka

20116_Cahyo Dwi Sulistiyo, Sri Hartoyo, & TB Nur Ahmad Maulana

– Dampak Corporate Governance terhadap Keputusan Dividen (Literature Review Pada Negara-negara di Asia, Australia dan Afrika)

20116_Nur Hidayati & Hadi Sunaryo

– Apakah Kualitas Laba Berbasis Akintansi Berkontribusi Terhadap Market Outcomes?

20116_Muhammad Khafid

– Tata Kelola Keuangan Asuransi Jasa dalam Menilai Kinerja Operasional Usaha Secara Periodik

20116_Ibrahim Hafid

 

• PERBANKAN

 

– Dampak Risiko Default Bank terhadap Risiko Sistematik Perbankan dan Risiko Sistematik Bursa Saham di Lima Negara Asean

20116_Buddi Wibowo & Wilbert Ham

– Model Inovasi Sistem Pemasaran Perbankan Syariah Berbasis Floating Market Untuk Penciptaan Daya Saing (Model of Islamic Banking Marketing Innovation Systems Based on Floating Market for Creation Competitiveness)

20116_Diana Sulianti K. Tobing, Moehammad Fathorazzi, & Gusti Ayu Wulandari

– Role of Image in Marketing Performance Model Supported by Marketing Communication and Company Social Responsibility

20116_Eddy Soeryanto Soegoto

– Menelisik Makna Pembiayaan Qardhul Hasan dan Implementasinya pada Perbankan Syariah di Indonesia

20116_Falikhatun, Yasmin Umar Assegaff, & Hasim

– Kaitan Kondisi Makroekonomi dengan Non Performing Financing Berdasarkan Sektor Ekonomi pada Perbankan Syariah di Indonesia

20116_Nunung Nuryartono, Imam Teguh Saptono, & Guruh Herman Was’an

– Intermediasi, Struktur Modal, Efisiensi, Permodalan dan Risiko terhadap Profitabilitas Bank

20116_Djamil Thalib

–  Perbandingan Kualitas Layanan Bank Syariah dan Bank Konvensional (Pendekatan Model PBZ)

20116_H. Abdul Choliq & Irwan Misbach

– Pengaruh dan Hubungan Struktur Organisasi, Budaya Organisasi dan Sumber Daya Manusia dengan Kinerja Konteks: Bank Umum di Indonesia

20116_Lasmaida Gultom, Musa Hubeis, M. Syamsul Maarif, Dadang Sukandar

– Determinan Pertumbuhan Kredit Modal Kerja Perbankan di Indonesia: Pendekatan Error Correction Model (ECM)

20116_Sasanti Widyawati & Setyo Tri Wahyudi

 

 

Daftar Isi Vol.19 No.3 September 2015

 

KEUANGAN

FOREIGN INSTITUTIONAL OWNERSHIP ANDSTOCK RETURN VOLATILITY IN INDONESIA

Irwan Adi Ekaputra

EX-DIVIDEND DATE DAN PERUBAHAN HARGA SAHAM

Novriyanthi Taungke, Supramono

PENGARUH MANAJEMEN LABA  TERHADAP RASIO KEUANGAN PRODUK INDUSTRI KREATIF KERAMIK

I Nyoman Normal

DAMPAK STRUKTUR KEPEMILIKAN, FINANCIAL LEVERAGE,BOARD TERHADAP NILAI PERUSAHAAN

Sri Dwi Ari Ambarwati           

REAKSI ASIMETRI ATAS SINYAL BELI DAN JUAL ANALISIS TEKNIS: PENGUJIAN BIAS KONFIRMASI SEBELUM PENGUMUMAN LABA*

Dedhy Sulistiawan

 

PERBANKAN

PERBANKAN SYARIAH:  ANTARA IDEALISME DAN OPORTUNISME STUDI KASUS PADA PERBANKAN SYARIAH DI INDONESIA

SUTRISNO

DETERMINAN PROFITABILITAS BANK : STUDI KASUS PADA BANK PEMBANGUNAN DAERAH

Gatot Nazir Ahmad

COMPETITIVAE STRATEGY OF BANKING INDUSTRY (Studies in Bengkulu Province)

Syaiful Anwar.AB

PENGARUH INTERNET BANKING, KUALITAS LAYANAN, REPUTASI PRODUK, LOKASI, TERHADAP LOYALITAS NASABAH DENGAN INTERMEDIASI KEPUASAN NASABAH

ADINOTO NURSIANA

PENGARUH SUKU BUNGA, JUMLAH PERUSAHAAN DAN PERTUMBUHAN EKONOMI TERHADAP PENYALURAN KREDIT MODAL KERJA BAGI UMKM DI SUMATERA SELATAN

Tien Yustini

BEBAN KERJA, IMPLIKASINYA TERHADAP MOTIVASI KERJA DENGAN KEMAMPUAN KERJA SEBAGAI VARIABEL INTERVENING PADA KARYAWAN BANK UMKM

Ircham Robbaq Azwar ,Siswanto

RIBA DAN PEMBIAYAAN DALAM KONSEP HINDU

I Nyoman Nugraha Ardana Putra

DUKUNGAN OPT-OUT DAN PERSEPSI NILAI E-BANKING

Ni Made Purnami

DETERMINANTS OF ECONOMIC EXPOSURE:  AN EMPIRICAL EVIDENCE FROM THE MISCELLANEOUS COMPANIES IN INDONESIA

Shabri Abd. Majid, Zaida Rizqi Zainul, dan A. Sakir

DAMPAK ELECTRONIC BANKING TERHADAP KINERJA PERBANKAN INDONESIA

Farah Margaretha

Irwan Adi Ekaputra_19315

FOREIGN INSTITUTIONAL OWNERSHIP ANDSTOCK RETURN VOLATILITY IN INDONESIA

 Irwan Adi Ekaputra

Departemen Manajemen, Fakultas Ekonomi dan Bisnis, Universitas Indonesia

Kampus UI, Depok 16424, Indonesia

• KorespondensidenganPenulis:
• Irwan Adi Ekaputra: Telp. +62 21 7272425
• Email: adi@ui.ac.id; irwanekaputra@hotmail.com

Abstract

This paper examines the impact of foreign institutional ownership on contemporaneous stock return volatility in Indonesia. In this study, return volatility is measured as standard deviation of daily stockreturns. The dynamic panel data results based on System GMM (S-GMM) estimation, confirm that foreign institutional ownership tend to linearly and convexly increase monthly stock return volatility.The linear impact seems to be weaker for stocks with higher market capitalization, but stronger for stocks with higher turnover.Furthertest reveals that foreign financial institutional ownershiplinearly contributes to return volatility upsurge, while foreign non-financial corporation ownership convexly contribute to return volatility increase.The additional test also uncovers that domestic financial and non-financial institutionalownerships do not impact return volatility.

JEL classifications: F32, G15, G23, G32

Keywords:capital market liberalization;general methods of moments; institutional ownership;volatility; Indonesia

19315357367_Irwan Adi Ekaputra (Full Text)

Novriyanthi Taungke_19315368377

EX-DIVIDEND DATE DAN PERUBAHAN HARGA SAHAM

Novriyanthi Taungke

Supramono

Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

 Jl. Diponegoro 52-60 Salatiga, 50711

Abstract

The aim of this study is to analyze whether the stock prices decrease at ex-dividend date in Indonesia Stock Exchange (IDX) that is determined by amount of dividend drop-off ratio (DDR). This study also attempts to investigate the differences the stock prices decrease at  ex-dividend date based on  Investment Opportunity Set (IOS).  Sample consist of  the companies that announced the dividend during 2010-2012 periods. By using non-parametric tests, especially Chi-square Test and Mann Whitney Test,  the result of this study showed the stock prices decreased less than dividend amount on ex-dividend date.  Besides, the non-growth firms experienced decrease more than growth firms.

Keywords— ex-dividend date, dividend drop-off ratio, IOS

19315368377_Novriyanthi Taungke (Full Text)

I Nyoman Normal_19315378390

PENGARUH MANAJEMEN LABA  TERHADAP RASIO KEUANGAN PRODUK INDUSTRI KREATIF KERAMIK

 I Nyoman Normal

Unit Pelaksana Teknis Pengembangan Seni dan Teknologi Keramik dan Porselin (UPT PSTKP) Bali,

Badan Pengkajian dan Penerapan Teknologi (BPPT),

  Jl. By Pass Ngurah Rai-Suwung Kauh, Denpasar, 80221, Indonesia

E-mail : inyomannormal_s@yahoo.com

Abstracts

 The aims of this research is determine the influence of earning management to financial ratio ceramics creative industry product. The research results shew that the earning management that applied by over production can increase financial ratio ceramics creative industry product, that is : a) The liquidity aspect (quick ratio) 5,33% for earthenware, 1,00% for stoneware,  0,67% for castle mass, 2,00% for glazur, and 0,33% for prothotype, b) The profitability aspect (profit margin) 2,89% for earthenware,  2,31% for stoneware, 0,18% for castle mass,  1,65% for glazur,  and 0,41% for prothotype, c) The solvability aspect (time interest earned) 1,31 times for earthenware,  1,16 times for stoneware,  0,02 times for castle mass,  0,71 times for glazur, and 0,15 times for prothotype, and d) The valuation aspect (earning peer share) Rp 707,23 for earthenware,  Rp 812,63 for stoneware,  Rp 319,12 for castle mass,  Rp 44,69 for glazur, and Rp 8,21 for prothotipe. Its contrary, the earning management can decrease activity aspect (turnover inventory) ceramics creative industry product (earthenware, stoneware, castle mass, glazur, and prothotype), these are  3,8 times,  6,47 times,  5,27 times,  8,11 times, and 11,90 times.

Key words : earning management, financial ratio, ceramic creative industry.

19315378390_I Nyoman Normal (Full Text)

Sri Dwi Ari Ambarwati_19315391399

Dampak  Struktur Kepemilikan, Financial Leverage, Board Director terhadap Nilai Perusahaan

 Sri Dwi Ari Ambarwati

email: ambarwati-73@yahoo.com

Rini Dwi Astuti

email: rinidwiastuti@upnyk.ac.id

Fakultas Ekonomi UPN “Veteran” Yogyakarta

Abstract

 

This study tried to analyze the effect of ownership structure, financial leverage, size of board directors and sales Growth on the performance of companies with lower growth opportunities , whether there is a proxy growth opportunities with low PER. This research was conducted at the manufacturing company with the selection criteria for purposive sampling method 2010-2012 period, based on the criteria  the obtained sample of 32 companies  with  low growth opportunities. Thus obtained 96 obervasi for each group. The results showed that: 1). simultaneously the ownership structure, financial leverage, size of board directors and sales Growth affect the performance of  companies with low growth opportunities. 2). Partially, it was found empirical evidence that financial leverage and variable size of board directors significantly affect the company’s performance with lower growth opportunities. For institutional ownership structure revealed a significant effect on performance, but at a rate of 10% alpha tolerated.

 Keyword: Ownership structure, leverage, size of board, growth opportunities

19315391399_Sri Dwi Ari Ambarwati (Full Text)

Annisa Putri Caesari_19315409417

ANALISIS PENGARUH CORPORATE GOVERNANCE, CORPORATE SOCIAL RESPONSIBILITY, DAN CORPORATE FINANCIAL PERFORMANCE PERUSAHAAN INDEKS KOMPAS100

 Annisa Putri Caesari

Abdul Kohar Irwanto

Muhammad Syamsun

Pasca Sarjana Ilmu Manajemen Institut Pertanian Bogor

Jl. Raya Darmaga, Bogor, Jawa Barat 16680

annisaputricaesari@yahoo.com

Abstract

The operational activities of a company are conducted to maximize the profits of shareholders. But besides that, the company also has an obligation to give contribution to society. To accommodate the goals and the obligations of the company, systems called Corporate Governance (CG) and Corporate Social Responsibility (CSR) can be applied. The implementations of CG and CSR are related because CSR is the consequence of applying CG. Besides CG and CSR are related one another, CG and CSR also linked to Corporate Financial Performance (CFP). A research was conducted on one hundred companies listed in Kompas100 index in order to know the relation among the implementation of CG, the exposure of CSR, and CFP. Analysis to know the relation of three variables was conducted using analysis of structural equation modeling (SEM). The result shows that the implementation of CG positively influenced to the exposure of CSR. Nevertheless, the implementation of CG is negatively nfluenced to the CFP. Similarly, the exposure of CSR is negatively influenced to the CFP. Due to the influence CG to CFP and the influence CSR to CFP is negative, implementation of CG is also influence negatively to the CFP through the disclosure of CSR as a moderating variable.

Keywords: CG, CSR, CFP

19315409417_Annisa Putri Caesari (Full Text)

Dedhy Sulistiawan_19315400408

REAKSI ASIMETRI ATAS SINYAL BELI DAN JUAL ANALISIS TEKNIS: PENGUJIAN BIAS KONFIRMASI SEBELUM PENGUMUMAN LABA*

Dedhy Sulistiawan

Jurusan Akuntansi Fakultas Bisnis dan Ekonomika Universitas Surabaya

dedhy@ubaya.ac.id

 ABSTRACT

The main purpose of this study is to examine asymmetry reaction on buying and selling technical analysis signal before earnings announcements. Behavioral finance theory is used in explaining why confirmation bias stimulates asymmetry reaction to stock return. To support that idea, this article uses technical analysis as an important feature in testing confirmation bias. Using Indonesian stock market data, the results show that technical analysis signal produce higher return in buying signal than selling signal. Investors give different attention in anticipating technical analysis signal around earnings announcements. This finding contributes to behavioral finance and technical analysis studies.

Keywords: Technical analysis, asymmetry reaction, confirmation bias, and earnings announcements.

19315400408_Dedhy Sulistiawan (Full Text)

Daftar Isi Volume 19 No.2 Mei 2015

KEUANGAN

KOMPARASI CAPITAL ASSET PRICING MODEL VERSUS ARBITRAGE PRICING THEORY MODEL ATAS VOLATILITAS RETURN SAHAM

Mathius Tandiontong dan Rusdin

RISIKO EKSPROPRIASI OLEH PEMILIK PENGENDALI DAN TATA KELOLA PERUSAHAAN TERHADAP TINGKAT PENGGUNAAN UTANG BANK

Ratna Wardhani

CORPORATE GOVERNANCE DAN INTERDEPENDENSI ANTARA LEVERAGE, PROFITABILITAS SERTA KEBIJAKAN DIVIDEN DALAM MENCAPAI NILAI PERUSAHAAN

Muhamad Umar Mai

DEWAN KOMISARIS DAN INTELLECTUAL CAPITAL DISCLOSURE PADA PERBANKAN DI INDONESIA

Lia Uzliawati

PUBLIC ATTENTION AND FINANCIAL INFORMATION AS DETERMINANTS OF FIRMS PERFORMANCE IN THE TELECOMMUNICATION SECTOR

Ridwan Nurazi dan Berto Usman

PERBANDINGAN TINGKAT DAN RUANG LINGKUP PENGUNGKAPAN PELAPORAN KEUANGAN BASIS INTERNET TERHADAP HARGA SAHAM

Emrinaldi Nur DP dan Enny Susilowati

TEST OF SPEED OF ADJUSTMENT TOWARDS THE CAPITAL STRUCTURE IN INDONESIA TELECOMMUNICATION INDUSTRY

Riko Hendrawan dan Dwipanca Adi Nugraha

EARLY WARNING SYSTEM DAN PERTUMBUHAN PENDAPATAN KONTRIBUSI PADA PERUSAHAAN ASURANSI JIWA SYARIAH DI INDONESIA

Maria Oktaviani

INVESTIGASI KEWIRAUSAHAAN SEBAGAI VARIABEL MODERASI KEPUTUSAN STRUKTUR MODAL TERHADAP KINERJA KEUANGAN

Erna Setijani, Pudjo Sugito, dan Chodidjah

PERBANKAN

KETERKAITAN KEBIJAKAN PEMISAHAN TERHADAP TINGKAT EFISIENSI PADA INDUSTRI PERBANKAN SYARIAH DI INDONESIA

Nur Rianto Al Arif

THE IMPACT OF GLOBAL ECONOMIC CONTRACTION TOWARDS LENDING BEHAVIOR OF BANKS IN INDONESIA

Rizky Yudaruddin

EFEKTIFITAS PELATIHAN TERHADAP KEPUASAN KERJA DAN KOMITMEN ORGANISASIONAL SERTA KINERJA KARYAWAN BANK

Rizky Fauzan

PERAN KEPEMIMPINAN TRANSFORMASIONAL DAN MOTIVASI TERHADAP KINERJA KARYAWAN DENGAN MODERASI MASA KERJA

Noermijati

KEPRIBADIAN MEREK DAN IKATAN EMOSIONAL MEREK  TERHADAP LOYALITAS MEREK TABUNGAN BANK UMUM SYARIAH

Sri Wahyuni dan Sulistiyono

KOMPETISI DAN PENGAMBILAN RISIKO DALAM INDUSTRI PERBANKAN NASIONAL

Aloysius Deno Hervino dan Maria Margaretha Sumaryati