M.Shabri_19315505513

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

M. Shabri Abd. Majid, Zaida Rizqi Zainul, dan A. SakirFaculty of Economics, Syiah Kuala University, Indonesia

Corresponding Author: hannanan@gmail.com

 

Abstract

This research empirically measures the economic exposure of 11 selected miscellaneous companies in Indonesia. It also attempts to empirically explore the influence of firm size, export, liquidity, and leverage on the economic exposure of those companies. Annual data from 2007 to 2010, which was collected from the www.idx.co.id and www.bi.go.id were used and analyzed by the multiple linear regression to measure the economic exposure and examine the influences of the firm size, export, liquidity, and leverage on the economic exposure. Both partial (t-test) and simultaneous (F-test) hypotheses were constructed and tested using the software of SPSS for Windows. The research documented that, with the exception of the liquidity, which has a negative and significant effect partially on the economic exposure, all other variables, i.e., the firm size, export, and leverage were found to have insignificant effects. Meanwhile, based on the F-test, the research found that the firm size, export, liquidity, and leverage affected simultaneously and significantly the economic exposure of the companies. These findings imply that in order to manage their economic exposure, the companies should control these variables, especially the liquidity.

Keywords :  Economic Exposure; Firm Size; Export Ratio; Quick Ratio; Long Term Debt to Total Asset Ratio; Miscellaneous Companies; Indonesia.

19315505513_M.Shabri (Full Text)

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Ni Nyoman A.Diantini_191157685

DETERMINAN INFORMASI ASIMETRIS PADA INDEKS SAHAM LQ45

Ni Nyoman Ayu Diantini

Prodi Manajemen Fakultas Ekonomi dan Bisnis Universitas Udayana

Jl. P.B. Sudirman, Denpasar, Bali, 80232, Indonesia

  • Korespondensi dengan Penulis:
  • Ni Nyoman Ayu Diantini: Telp.+62 361 224 133; Fax. +62 361 241 929
  • E-mail: a_diantini@yahoo.com

Abstract

Managers directly involved in the management of companies often have internal company information more about the company’s future prospects than shareholders. This asymmetric information that occurs between the investor and the manager will affect their decisions on investment and capital structure. The purpose of this study was to analyze the effect of firm size, research and development expenditure, growth opportunities and the number of shareholders of the asymmetric information on LQ45 index in the Indonesia Stock Exchange. The samples in this study was conducted with a purposive sampling on a consistent company that listed in LQ45 index between 2011-2013, total samples are 25 companies. The analysis technique used multiple linear regression analysis. The key findings of the paper are firm size has a significant negative effect on asymmetric information and number of shareholders have significant positive effect on asymmetric information. Variable R & D expenditure and growth opportunities showed no significant effect on asymmetric information.

Keywords: asymmetric information, index LQ45, firm Size, R&D expenditure

191157685_NiNyomanAyuDiantini (Full Text)

Christine Dwi Karya Susilawati_Abstract_1832014

FAKTOR-FAKTOR FUNDAMENTAL DAN JENIS INDUSTRI TERHADAP CORPORATE SOCIAL RESPONSIBILITY SERTA DAMPAKNYA TERHADAP HARGA SAHAM

Christine Dwi Karya Susilawati
Se Tin
Lidya Agustina
Prodi Akuntansi Fakultas Ekonomi Universitas Kristen Maranatha
Jl. Suria Sumantri No.65 Bandung, 40164, Indonesia.

Korespondensi dengan Penulis:
Christine Dwi Karya Susilawati: Telp. +62 22 201 2186; Fax. +62 22 201 7625
Email: buwenfa@yahoo.co.uk

Abstract
Different characteristics could be determined by using three approaches categories: structure, performance, and market. Structure was determined by factors associated with the development of the company included firm size, firm age, and the ability to repay the debt. Performance was determined by quantitative factors included the company’s liquidity and profitability, while the market was determined by factors namely qualitative form of public shares, and the status of the company. The purpose of this study was to test the influence of fundamental factors, namely liquidity, profitability, leverage, stock ownership, firm size, firm age and status of the company’s CSR, and to test the different types of industries (Consumer Goods, Mining and Forestry sectors Banking and widespread influence of CSR disclosure in Indonesia). The samples used were 30 companies of consumption sector, 31 companies of mining sector and plantation, and 28 companies of banking sector during 2010-2012. The company’s data was taken from the annual report. Data analysis technique used multiple regression analysis. The results of this study indicated that the stock ownership and firm age had a significant effect on the area of CSR (CSR Index), and a significant effect on the CSR Index stock price and type industry influence on the CSR Index.

Keywords: Corporate Social Responsibility, firm size, firm age, leverage, liquidity, profitability, status of the company’s, stock ownership, stock price

(Full Text.pdf)

Trudy M.Nussy_Abstract_1822014

PENGUNGKAPAN TANGGUNG JAWAB SOSIAL PERBANKAN DI INDONESIA

Trudy Maryona Nussy

Politeknik Negeri Ambon

Jl. Ir. M. Putuhena, Wailela-Ambon, 97234, Indonesia.

  • Korespondensi Penulis:
  • Trudy Maryona Nussy: Telp. +62 911 322 609; Fax. +62 911 343 591
  • E-mail: trudy.maryona@gmail.com

Abstract

The objective of research was to examine the effect of firm size and gross earning to the disclosure of corporate social responsibility (CSR). The research was conducted to the banks listed in Indonesia Stock Exchange in 2012. Sampling technique used was purposive sampling. Hypothesis testing was conducted by using multiple regression. The result of research indicated that firm size did not have an effect on CSR disclosure but gross earning influenced or had effect on CSR disclosure.

Key words: CSR disclosure, firm size, gross earning

(Full Text.pdf)

Triani Pujiastuti_Abstract_1812014

ANTESEDEN PROBABILITAS FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR DI INDONESIA: LOGISTIC REGRESSION MODEL

 

Triani Pujiastuti

Yuharningsih

Jurusan Manajemen Fakultas Ekonomi UPN “Veteran” Yogyakarta

Jl. SWK No.104 Lingkar Utara Condong Catur, 55283

  • Korespondensi dengan Penulis:
  • Triani Pujiastuti: Telp./Fax. +62 274 486 733
  • E-mail: triani.pujiastuti@gmail.com

 

Abstract

Based on theory and previous research, some factors which influenced probability of corporate financial distress were found. This research was done for testing the consistency of  research result with different research period that would strengthen the related empirical research finding. The purpose of this research was to test the impact of profitability ratio (Return on Assets), working capital policy, capital structure, size, current ratio and firm age toward the probability of financial distress of manufacturing firms at Indonesian Stock Exchange. The method used in this research was purposive sampling, which was taking data with certain criteria. The criteria was that the companies or firms used were those which issued bond and were listed in Indonesian Stock Exchange between 2007 until 2012 and had data completion needed in this research. The research results using Logistic Regression were 1) test of profitability ratio, working capital policy ratio, capital structure, size, and firm age had significant influence to the probability of financial distress manufacturing firms in Indonesia, 2) partially only profitability ratio that had negative significant influence to the probability of financial distress manufacturing firms in Indonesia while working capital ratio, capital structure, size, and age firm did not have significant influence to financial distress manufacturing firms in Indonesia. This research produced prediction model of financial distress.

 Key words: capital structure, financial distress, firm age, firm size, profitability ratio, working capital

(Full Text.pdf) 

Pujo Gunarso_Abstract_1812014

LABA AKUNTANSI, LEVERAGE, DAN UKURAN PERUSAHAAN TERHADAP HARGA SAHAM DI BURSA EFEK INDONESIA

Pujo Gunarso

Jurusan Akuntansi Fakultas Ekonomi dan Bisnis Universitas Merdeka Malang

Jl. Terusan Raya Dieng 62-64 Malang, 65146.

Korespondensi dengan Penulis:

Pujo Gunarso: Telp. +62 341 568 395; Fax. +62 341 56148

E-mail: pujo.lelly@gmail.com

Abstract

Research data observed in 2008-2010 coincided with the global financial crisis that caused the stock price to decline and could trigger the companies listed in Indonesia Stock Exchange to perform income smoothing practices, with the condition of the researcher wanted to examine the effect of variable earnings, leverage and firm size on stock prices. The purpose of this study was to analyze the effect of accounting earnings , leverage and firm size on stock prices of public companies listed in the Indonesia Stock Exchange. The method of data analysis used was multiple linear regression analysis. The results showed that some of the first findings of accounting earnings and firm size significantly affected stock prices. Both leverages did not significantly affect the stock price. The empirical results showed that the higher the accounting profit and the size of the company were, the higher the price of shares outstanding was, and conversely the smaller the size of the company’s stock price was, the less the price of shares outstanding was. The results of this study supported the theory and the researches done by Ball & Brown (1968),  Susan (2008), Sasongko & Wulandari (2006), Daniati & Suhairi (2006).

Key words: accounting income, firm size, leverage, stock price

(Full Text.pdf)

Bestari Dwi Handayani_Abstract_1732013

DETERMINAN PENGUNGKAPAN ENTERPRISE RISK MANAGEMENT
 
Bestari Dwi Handayani
Heri Yanto
Jurusan akuntansi Universitas Negeri Semarang
Gedung C6 Lt 3 Kampus Sekaran, Gunungpati, Semarang, 50229.

Korespondensi dengan Penulis:
Bestari Dwi Handayani: Telp.+62 24 850 8015
E-mail: ita_azzuri13@gmail.com

Abstract
The objective of this study was to identify the effect of firm size, RMC, auditor reputation and ownership concentration on ERM disclosure.The population of this research was all manufacturing companies listed in the Indonesia Stock Exchange 2011-2012. The sampling technique used in this research was puposive sampling. There were 90 companies qualified as samples. This study used multiple regression analysis to determine the influence of firm size, RMC, auditor reputation and ownership concentration on ERM disclosure. The results of regression analysis showed that the variables of firm size, RMC, auditor reputation and ownership concentration had positive effects on the ERM disclosure.

Keywords: auditor reputation, Enterprise Risk Management disclosure, firm size, ownership concentration, Risk Management Committee 

Full Text (pdf)