INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING
Nisa Ayu Castrena Dewi
Prodi Akuntansi Fakultas Ekonomi dan Bisnis Universitas Telkom
Jl. Telekomunikasi Terusan Buahbatu-Bandung, 40257, Indonesia.
- Korespondensi Penulis:
- Nisa Ayu Castrena Dewi: Telp. +62 22 750 3055; Fax. +62 22 750 5522
- E-mail: email@example.com
Company competition ability was not only in the assets ownership but also in the innovation, information system, organization management and resources, including the importance of knowledge assets in the company. One of the approaches used in assessment and measuring of knowledge assets was Intellectual Capital (IC) which used model namely Value Added Intellectual Coefficient (VAICTM) and also used per IC component namely Value Added Capital Employed (VACA), Value Added Human Capital (VAHU) and Structural Capital Value Added (STVA). This research aimed to investigate the intellectual effect toward firm value with return on assets as the intervening variable. The samples of this research were pharmacy companies listed in BEI. The samples were selected by using purposive sampling method and there were 24 observation data. The hypotheses of this research used path analysis, simple linear regression and double linear regression. The result of this research showed that IC had a positive significant effect toward Return on Assets as. IC did not have a direct effect toward firm value. It influenced indirectly toward firm value with Return on Assets as the intervening variable, simultaneously or partially. VACA, VAHU and STVA did not have an effect toward Return on Assets of a firm simultaneously or partially. VACA, VAHU and STVA did not have an effect on firm value.
Key words: Intellectual Capital (IC), Price to Book Value (PBV), Return on Assets (ROA)
ANALISIS KOMPARATIF KINERJA KEUANGAN PERBANKAN ASEAN SETELAH KRISIS GLOBAL
I Gusti Ayu Purnamawati
Fakultas Ekonomi dan Bisnis Universitas Pendidikan Ganesha
Jl.Udayana No.11 Singaraja-Bali, 81116, Indonesia.
- Korespondensi Penulis:
- I Gusti Ayu Purnamawati: Telp. +62 362 26830
- E-mail: firstname.lastname@example.org
The globalization of world trade era presented a competitive challenge for the banking sector, especially the countries that were members of the Association of Southeast Asian Nations (ASEAN) such as: Indonesia, Thailand, and Malaysia. The banking sector was very vulnerable to the economic turmoil that often occurred. The uncertainty in the global economic recovery resulted a high risk in the financial sector for the importance of the bank’s financial performance assessment for the stakeholders. This study aimed to compare the financial performance of the banking sector in Indonesia, Thailand, and Malaysia by using financial ratios. The sample was limited to banks that fell into the category of 5 largest banks in Indonesia, Thailand, and Malaysia during 2009-2012. The research data was secondary data obtained from the Indonesia Stock Exchange. The analysis method used was Kolmogorov Smirnov test for data normality test and one-way ANOVA parametric test. The results showed that: (1) There were significant differences of indicators ROA, ROE and LDR in the financial performance of banks in Indonesia, Thailand and Malaysia; (2) There was no difference of CAR indicator in banking finance in Indonesia, Thailand and Malaysia.
Key words: banking, capital adequacy ratio, loan to deposit ratio, return on assets, return on equity
PERBEDAAN PROFITABILITAS DAN TINGKAT PENGAWASAN SEBELUM DAN SESUDAH MERGER PADA BANK PERKREDITAN RAKYAT
I Nyoman Nugraha Ardana Putra
Jurusan Manajemen Fakultas Ekonomi Universitas Mataram
Jl. Majapahit No. 62 Mataram, Nusa Tenggara Barat, 83125.
Korespondensi dengan Penulis:
I Nyoman Nugraha A.P: Telp. +62 370 631 935
This research was aimed at finding the influence of merger. Furthermore, it was also to find out the difference of before and after merger to Profitability and Controlling in Society Credit Bank (BPR). In order to find out it, it included 46 Society Credit Bank (BPR-LKP) doing merger in West Nusa Tenggara province as the sample. By using t-test paired, then it came the finding that there was difference of before and after merger to profitability in Society Credit Bank (BPR-LKP) compared with ROA indicator. Further more, it was also to find out the difference of before and after merger to Society Credit Bank (BPR-LKP) controlled with NPL indicator.
Key words: non-performing loan, merger, society credit bank (BPR-LKP), return on assets
INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN PUBLIK DI INDONESIA
Indra Suyoto Kurniawan
Fakultas Ekonomi Universitas Mulawarman Samarinda
Jl. Tanah Grogot No.1 Kampus Unmul Gunung Kelua, Samarinda, 75119.
Korespondensi dengan Penulis:
Indra Suyoto Kurniawan: Telp. +62 541 738 916, 738 915
The purpose of this study was to examine the relationship between the efficiency of the value added to the company’s resources in the main components (physical capital, human capital, structural capital) and researchers are trying to add the market value of the three dimensions of a company’s financial performance is ROA, ATO, and GR. The data is taken from the 44 public companies engaged in non financial sector for 3 years (2009-2011). This study is an empirical study using PLS as a data analysis tool. The findings of this study suggest that having an IC on the financial performance of the company, the IC also has a positive effect on the financial performance of companies in the future. While the rate of growth for the company IC (ROGIC) within 3 years of observation there is a difference, where to ROGIC2009–2010 does not affect the financial performance in 2010, ROGIC2010-2011 positive effect on the financial performance for the year 2011. The findings suggest that human capital (VAHU) and physical capital (VACA) is an indicator of a positive effect IC for two years of observation, while the capital structure (STVA) has a positive effect only in 2010 while the market value (MV) effect only in 2011. While the ROA and the ATO as an indicator of financial performance consistent effect for three years of observation. And for the year 2010 was significant for all indicators either IC or financial performance.
Key words: asset turn over, human capital, intellectual capital, physical capital, return on assets, structural capital
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DETERMINAN EFISIENSI DAN DAMPAKNYA TERHADAP KINERJA PROFITABILITAS INDUSTRI PERBANKAN DI INDONESIA
Jurusan Administrasi Bisnis STIA- LAN (Lembaga Administrasi Negara)
Jl. Administrasi II Pejompongan Jakarta Pusat, 10260
Fakultas Ekonomika dan Bisnis Universitas Diponegoro
Jl. Erlangga Tengah No.17 Semarang, 50241
Korespondensi dengan Penulis:
Subandi: Telp. +62 21 532 6726; Fax. +62 21 536 74562
The Objective of this study was to estimate the factors influencing the level of technical efficiency of banks measured by a non-parametric Data Envelopment Analysis (DEA) and its impact on the profitability performance as measured by return on assets (ROA). This study applied panel data regression models with random effects approach to 110 conventional bank over 2006-2010. Based on estimation of the determinants of bank efficiency levels, it could be informed that bank size factors, types of banks, capital adequacy ratio, loans deposit ratio, operating expenses and net interest margin affected the level of technical efficiency significantly. At a later stage, estimation of the determinants of profitability showed that the factors like the bank size, types of banks, non-performing loans, loans deposit ratio, operating expenses and net interest margin significantly affected ROA. This study had implications both theoretically and managerially. Theoretical implications for this research provided an important contribution to the development of the theory of efficiency and financial performance. Finnaly the managerial implications of this research had the consequences of improving the efficiency and profitability performance, especially for the domestic banks.
Key words: bank size, loans deposit ratio, net interest margin, non-performing loans, operating expenses, return on assets, types of banks
INTELLECTUAL CAPITAL DAN KINERJA KEUANGAN PERBANKAN
(PENDEKATAN DINAMIS PADA PANEL DATA)
Jurusan Ilmu Ekonomi Fakultas Ekonomi dan Bisnis Universitas Brawijaya
Jl. M.T. Haryono No.165 Malang, 65145
Korespondensi dengan Penulis:
Ghozali Maski: Telp. +62 341 551 396 Ext.257; Fax. +62 341 584 728
The performance of economic entities had been a research matter even in the ancient world. The genius human had been recognized as a vehicle for certain valuable capabilities and as the critic of transforming processes. But it had not been considered as an intellectual capitalizator or intellectual asset. The field for intellectual capital and the related philosophy of knowledge management had risen recently to an interesting research object world wide. Value Added Intellectual Coefficient (VAIC™) method and Rate of Growth Intellectual Capital (ROGIC) were applied in order to analyze the dynamic effect of Indonesia commercial banks for the financial period 2005 quarter 1 until 2008 quarter 4. It focused on banking financial performance both for current period and the future. The research method was quantitative analysis and the sample were 22 banks by using purposive sampling method. The method of estimation was dynamic model on panel data.The result of the study was all banks had relatively smaller capital employed efficiency than human and structural efficiencies. The long term effect had greater impact for return on asset and solvency ratio compared to the short term one. Average response time required for adjustment of return on asset was faster then solvency ratio.
Key words: Rate of Growth Intellectual Capital (ROGIC), return on asset, solvency ratio, Value Added Intellectual Coefficient (VAIC™).
KETERKAITAN INSIDER OWNERSHIP DAN PREDIKSI KINERJA PERBANKAN DI BURSA EFEK INDONESIA
Jurusan Manajemen Fakultas Ekonomi dan Bisnis Universitas Ma Chung-Malang
Jl. Villa Puncak Tidar N-01 Malang, 65151.
Jurusan Manajemen Fakultas Ekonomi Universitas Merdeka-Malang
Jl. Terusan Raya Dieng No.62-64 Malang, 65146.
- Korespondensi dengan Penulis:
- Sahala Manalu: Telp./Fax.: +62 341 550 171
- E-mail: email@example.com
Insider ownership in banking business had two different roles, namely as both owner and manager of the business at the same time. As managers, they were given the right of bank ownership in the hope of improving banking performance. With insider ownership, managers had greater rights to make decisions and also had a broader responsibility for decisions taken as they now shared the business risks. They also had greater control over the banks where they worked, such that they had access to strengthen their position in their respective banks. Explanatory variables used in this study was insider ownership, while the dependent variable consisted of the CAR (Capital Adequacy Ratio), ROA (Return on Asset), BOPO (compared to Operating Income Operating Expenses), and the ratio NPLgross (Non-Performing Loans gross). Using a statistical method PLS (Partial Least Square), the results showed that insider ownership could predict the performance of banks in terms BOPO and NPLgross, but could not predict the CAR and ROA.
Key words: insider ownership, capital adequacy ratio, return on asset, operating income operating expense, non-performing loan