This paper reviews and critiques the positive accounting literature following publication of Watts and Zimmerman (1978, 1979). The 1978 paper helped generate the positive accounting literature which offers an explanation of accounting practice, suggests the importance of contracting costs, and has led to the discovery of some previously unkown empirical regularities. The 1979 paper produced a methodological debate that has not been very productive.
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Are you want to learn and try to enter the stock market? If yes, then you should learn from right teacher. There are many information around this world of information, should I think there are abundance of information. One you should read is from the Investing Blog and the link is http://www.investingblog.org. Here you can read all about the simple like Stocks, Forex and the expert like Hedge funds, futures and commodities.
Investing in stock market in this situation of global economic, one question we all ask? Is this really good time to buy or just wait? Investing Blog analysize that market reaction is many people looking for common trend. People take buying positions before the end of the day rather than selling. Investors were not just willing to hold overnight, but willing to hold positions over the weekend until Monday morning. The investing blog predict that Monday few points will upside, it is call right momentum.
Investment is about taking risk. How we predict and play just one recipe is don't panic in any situation. Because when the price is down that is the right time to buy, and you just should sell when it up price. Inveting blog is the right place to take update news about investing.
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Investing in stock market in this situation of global economic, one question we all ask? Is this really good time to buy or just wait? Investing Blog analysize that market reaction is many people looking for common trend. People take buying positions before the end of the day rather than selling. Investors were not just willing to hold overnight, but willing to hold positions over the weekend until Monday morning. The investing blog predict that Monday few points will upside, it is call right momentum.
Investment is about taking risk. How we predict and play just one recipe is don't panic in any situation. Because when the price is down that is the right time to buy, and you just should sell when it up price. Inveting blog is the right place to take update news about investing.
AN ANALYSIS OF FACTORS INFLUENCING MIGRANTS’ INCOME
Labels:
classic assumption test,
regression,
statistic test
Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal. 244 - 249
Sri Murwanti and Didit Purnomo
Economics Department of Economic School, University of Muhammadiyah Surakarta
ABSTRACT
This study aims to examine the factors influencing the Sukoharjo migrants’ income in Surakarta. It used multiple linear regressions. In order to find the good estimate,
it used classic assumption and statistic tests. The findings of this study indicate that education level and household responsibility has a positive influence on migrants’ income while working experience has a positive relation to migrants’ income, but it does not significantly. The findings of classic assumption test indicate that the model used is specific and free from multi-co-linearity problem while there are heteroskedasticity and morality problems.
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Vol. 7, No. 2, Desember 2006, hal. 244 - 249
Sri Murwanti and Didit Purnomo
Economics Department of Economic School, University of Muhammadiyah Surakarta
ABSTRACT
This study aims to examine the factors influencing the Sukoharjo migrants’ income in Surakarta. It used multiple linear regressions. In order to find the good estimate,
it used classic assumption and statistic tests. The findings of this study indicate that education level and household responsibility has a positive influence on migrants’ income while working experience has a positive relation to migrants’ income, but it does not significantly. The findings of classic assumption test indicate that the model used is specific and free from multi-co-linearity problem while there are heteroskedasticity and morality problems.
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Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal. 250 - 261
Triyono
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
ABSTRACT
Time deposit is one of the expected banking product can gather people money significantly. Gathered people money can be used to fulfill attainment of economy
growth target. In reality, position of time deposit often fluctuate caused many economic factors. This research aim to examine economic factors which theoretically influence time deposit. The factors are inflation rate, national income, deposit rate, rupiah exchange rate to dollar and invesment value. Result of the research indicate variables that influence position of time deposit are inflation and time deposit one year before.
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Vol. 7, No. 2, Desember 2006, hal. 250 - 261
Triyono
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
ABSTRACT
Time deposit is one of the expected banking product can gather people money significantly. Gathered people money can be used to fulfill attainment of economy
growth target. In reality, position of time deposit often fluctuate caused many economic factors. This research aim to examine economic factors which theoretically influence time deposit. The factors are inflation rate, national income, deposit rate, rupiah exchange rate to dollar and invesment value. Result of the research indicate variables that influence position of time deposit are inflation and time deposit one year before.
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John J. McConnell
Henri Servaes
Purdue University, West Lafayette, IN 47907, USA
University of Chicago, Chicago, IL 60637, USA
Abstract
We investigate the relation between Tobin's Q and the structure of equity ownership for a sample of 1,173 firms for 1976 and 1,093 firms for 1986. We find a significant curvilinear relation between Q and the fraction of common stock owned by corporate insiders. The curve slopes upward until insider ownership reaches approximately 40% to 50% and then slopes slightly downward. We also find a significant positive relation between Q and the fraction of shares owned by institutional investors. The results are consistent with the hypothesis that corporate value is a function of the structure of equity ownership.
Journal of Financial Economics
Volume 27, Issue 2, October 1990, Pages 595-612
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Henri Servaes
Purdue University, West Lafayette, IN 47907, USA
University of Chicago, Chicago, IL 60637, USA
Abstract
We investigate the relation between Tobin's Q and the structure of equity ownership for a sample of 1,173 firms for 1976 and 1,093 firms for 1986. We find a significant curvilinear relation between Q and the fraction of common stock owned by corporate insiders. The curve slopes upward until insider ownership reaches approximately 40% to 50% and then slopes slightly downward. We also find a significant positive relation between Q and the fraction of shares owned by institutional investors. The results are consistent with the hypothesis that corporate value is a function of the structure of equity ownership.
Journal of Financial Economics
Volume 27, Issue 2, October 1990, Pages 595-612
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Victoria Krivogorsky
San Diego State University, USA
Abstract
This study examines the empirical validity of claims that the composition of boards of directors and ownership structures affect firms' profitability ratios (ROE, ROA, MTB) using data from 87 European firms, which were foreign U.S. registrants during 2000–2001. Results indicate a strong positive relation between the level of relational ownership and profitability ratios, and between the portion of independent directors on the board and profitability ratios. No strong relation was found between the portion of inside directors or level of managerial ownership and profitability in continental European companies.
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San Diego State University, USA
Abstract
This study examines the empirical validity of claims that the composition of boards of directors and ownership structures affect firms' profitability ratios (ROE, ROA, MTB) using data from 87 European firms, which were foreign U.S. registrants during 2000–2001. Results indicate a strong positive relation between the level of relational ownership and profitability ratios, and between the portion of independent directors on the board and profitability ratios. No strong relation was found between the portion of inside directors or level of managerial ownership and profitability in continental European companies.
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Victor L. Bernard Douglas J. Skinner
Abstract
The papers by Subramanyam (1996) and Kasanen, Kinnunen, and Niskanen (KKN, 1996) both consider why managers manipulate accounting accruals, Subramanyam finds that discreationary accruals are associated with several performance measures, and concludes that managers' accrual choices increase the informativeness of accounting earning. However, a strong competing alternative is that the 'Jones model' systematically mismeasures discreationary accruals, so that they contain a significant non-discreationary component. Unlike many US studies, KKN find strong evidence of earnings management in Finland, where Finnish managers set earnings to satisfy the demand for dividends by keiretsu-like institutional investors.
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Abstract
The papers by Subramanyam (1996) and Kasanen, Kinnunen, and Niskanen (KKN, 1996) both consider why managers manipulate accounting accruals, Subramanyam finds that discreationary accruals are associated with several performance measures, and concludes that managers' accrual choices increase the informativeness of accounting earning. However, a strong competing alternative is that the 'Jones model' systematically mismeasures discreationary accruals, so that they contain a significant non-discreationary component. Unlike many US studies, KKN find strong evidence of earnings management in Finland, where Finnish managers set earnings to satisfy the demand for dividends by keiretsu-like institutional investors.
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Yonpae Park, 2002
Using the accounting valuation model proposed by Fetham and Ohlson (1995) this study examines firm valuation attributable to the joint effects of accounting conservatism and extent of voluntary disclosures on firm valuations and the joint effects of accounting conservatism and life-cycles stages.
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Using the accounting valuation model proposed by Fetham and Ohlson (1995) this study examines firm valuation attributable to the joint effects of accounting conservatism and extent of voluntary disclosures on firm valuations and the joint effects of accounting conservatism and life-cycles stages.
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Dan Givoly, Carla Hayn. Financial Analysts Journal. Charlottesville: Jan/Feb 2002.Vol.58, Iss. 1; pg. 56, 19 pgs
Abstract (Document Summary)
Evidence is provided that is consistent with an increase in reporting conservatism by U.S. companies in the past few decades. Using a constant sample of almost 900 companies, we examined several measures of accounting conservatism, including the level and rate of accumulation over time of negative nonoperating accruals, the differential timeliness of incorporating good news versus bad news in reported earnings, the skewness and variability of the earnings distribution relative to the cash flows distribution, and changes in the market-to-book ratio. The increased conservatism has contributed to a persistent and prevalent decline in reported profitability, an increase in the incidence of losses, and an increase in the dispersion of earnings. Increased conservatism affects financial ratios and PIE multiples. Thus, incorporating information on the level of a company's reporting conservatism improves valuations and the yield to investment strategies that are based on these ratios.
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Abstract (Document Summary)
Evidence is provided that is consistent with an increase in reporting conservatism by U.S. companies in the past few decades. Using a constant sample of almost 900 companies, we examined several measures of accounting conservatism, including the level and rate of accumulation over time of negative nonoperating accruals, the differential timeliness of incorporating good news versus bad news in reported earnings, the skewness and variability of the earnings distribution relative to the cash flows distribution, and changes in the market-to-book ratio. The increased conservatism has contributed to a persistent and prevalent decline in reported profitability, an increase in the incidence of losses, and an increase in the dispersion of earnings. Increased conservatism affects financial ratios and PIE multiples. Thus, incorporating information on the level of a company's reporting conservatism improves valuations and the yield to investment strategies that are based on these ratios.
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Kenneth M. Eades; Patrick J. Hess; E. Han Kim
The Journal of Finance, vol. 49, No. 5 (Dec 1994)
Ex-dividend day returns vary over time. The ex-day returns of high-yield stocks are persistently positive for some time periods and negative for others; in contrast, ex-day returns of low-yield stocks are always positive and less variable. We are unable to explain the variation with changes in the tax code, but we do find a strong effect for the introduction of negotiated commissions. We find evidence that corporate dividend capturing is affecting ex-day returns and confirm the findings of Gordon and Bradford (1980) that the price of dividends is countercyclical.
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The Journal of Finance, vol. 49, No. 5 (Dec 1994)
Ex-dividend day returns vary over time. The ex-day returns of high-yield stocks are persistently positive for some time periods and negative for others; in contrast, ex-day returns of low-yield stocks are always positive and less variable. We are unable to explain the variation with changes in the tax code, but we do find a strong effect for the introduction of negotiated commissions. We find evidence that corporate dividend capturing is affecting ex-day returns and confirm the findings of Gordon and Bradford (1980) that the price of dividends is countercyclical.
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David Hirshleifer, Anjan V. Thakor
The Review of Financial Studies, Vol. 5 No. 3 (1992)
We show that the incentive for managers to build their reputations distorts firms' investment policies in favor of relatively safe projects, thereby aligning managers' interest with those of bondholders, even though managers are hired of fired by shareholders. This effect opposes the familiar agency problem of risky debt that is imperfectly covenant-protected, wherin shareholders are tempted to favor excessively risky projects in oder to expropriate concern for reputation results in conservatism, it can actually make shareholders better off ex ante by allowing the firm to issue more debt. We examine how the optimal choice of leverage from the shareholders' standpoint is influence by takeover activity, and how the adoption of anti-takeover measures affects a firm's investment policy and leverage choice.
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The Review of Financial Studies, Vol. 5 No. 3 (1992)
We show that the incentive for managers to build their reputations distorts firms' investment policies in favor of relatively safe projects, thereby aligning managers' interest with those of bondholders, even though managers are hired of fired by shareholders. This effect opposes the familiar agency problem of risky debt that is imperfectly covenant-protected, wherin shareholders are tempted to favor excessively risky projects in oder to expropriate concern for reputation results in conservatism, it can actually make shareholders better off ex ante by allowing the firm to issue more debt. We examine how the optimal choice of leverage from the shareholders' standpoint is influence by takeover activity, and how the adoption of anti-takeover measures affects a firm's investment policy and leverage choice.
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ANALISIS DAMPAK TRANSFER PEMERINTAH TERHADAP KINERJA FISKAL DI KABUPATEN/KOTA PROPINSI JAWA TENGAH DALAM PELAKSANAAN DESENTRALISASI FISKAL
Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, 224 - 243
Hadi Sasana
Fakultas Ekonomi Universitas Diponegoro Semarang
ABSTRACT
In the regional autonomy era, city or district have to be able to increase their own income to fund their government affairs. Realization of a more realistic regional autonomy can offer tangible economic, social and political benefits to the region. This paper analyze the influence of central government transfer, Gross Regional Domestic Product (GRDP) per capita, consumer price index to original regional income (PAD), and the influence of central government transfer, PDRB per capita, population to routine and regional development expenditure. Data panels of all districts and cities (29 districts and 6 cities) since 2001 up to 2004 are used and the analyzing instrument used by pooled data with fixed effect model. The result of the study shown that central government transfer and the GRDP per capita positive and significant influence to the PAD, routine and regional development expenditure.Consumer price index has positive and significant influence to the PAD, and the total population only has positive and significant influence to the routine expenditure and has nothing to do with development expenditure.
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Vol. 7, No. 2, Desember 2006, 224 - 243
Hadi Sasana
Fakultas Ekonomi Universitas Diponegoro Semarang
ABSTRACT
In the regional autonomy era, city or district have to be able to increase their own income to fund their government affairs. Realization of a more realistic regional autonomy can offer tangible economic, social and political benefits to the region. This paper analyze the influence of central government transfer, Gross Regional Domestic Product (GRDP) per capita, consumer price index to original regional income (PAD), and the influence of central government transfer, PDRB per capita, population to routine and regional development expenditure. Data panels of all districts and cities (29 districts and 6 cities) since 2001 up to 2004 are used and the analyzing instrument used by pooled data with fixed effect model. The result of the study shown that central government transfer and the GRDP per capita positive and significant influence to the PAD, routine and regional development expenditure.Consumer price index has positive and significant influence to the PAD, and the total population only has positive and significant influence to the routine expenditure and has nothing to do with development expenditure.
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PARADOKS ARROW, PERTUMBUHAN EKONOMI DAN RENCANA PEMBANGUNAN JANGKA MENENGAH NASIONAL (RPJMN) TAHUN 2004-2009
Labels:
Arrow’s paradox
Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal. 203 - 223
Sayuti Hasibuan
Program Pascasarjana Universitas Muhammadiyah Surakarta
ABSTRACT
Based on past experience as well as implementation paradigms embedded in the five-year plan 2004-2009, there is a very small likelihood that it can be successfully implemented. In the past before the crises of 1997, for a long time economic growth has been on average 6.8% per year. But that did not prevent open unemployment from rising. The plan target of reducing open unemployment to 5.1% in 2009 from about 9.7% in 2005 with 6.6% yearly average of economic growth appears very unrealistic. This unrealism is the more so because the plan as it stands embodies paradoxes in its various agendas and programs of action resulting from the operation of Arrow’s impossibility theorem. While the plan aims at increasing productive employment, its assumption of human being as a resource is a passive, order receiving rather than an active, innovative and risk taking one. More fundamentally, even if the plan target of economic growth is achieved, it, being on the physical plane, will fail, as it has in the past, to translate the spiritual
and corporeal values of Belief in One God and Just and Enlightened Humanity contained in the 1945 constitution. Indonesian society will move further and further away from the cherished ideals of the founding fathers of the Republic with dire implications on its future prosperity and even of its existence. It has been proposed that the operational objective of maximizing economic growth be replaced by maximizing human capability which is more suited to accommodate the multiplicity of objectives in the 1945 constitution with the different levels of physical, corporeal and spiritual dimensions.
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Vol. 7, No. 2, Desember 2006, hal. 203 - 223
Sayuti Hasibuan
Program Pascasarjana Universitas Muhammadiyah Surakarta
ABSTRACT
Based on past experience as well as implementation paradigms embedded in the five-year plan 2004-2009, there is a very small likelihood that it can be successfully implemented. In the past before the crises of 1997, for a long time economic growth has been on average 6.8% per year. But that did not prevent open unemployment from rising. The plan target of reducing open unemployment to 5.1% in 2009 from about 9.7% in 2005 with 6.6% yearly average of economic growth appears very unrealistic. This unrealism is the more so because the plan as it stands embodies paradoxes in its various agendas and programs of action resulting from the operation of Arrow’s impossibility theorem. While the plan aims at increasing productive employment, its assumption of human being as a resource is a passive, order receiving rather than an active, innovative and risk taking one. More fundamentally, even if the plan target of economic growth is achieved, it, being on the physical plane, will fail, as it has in the past, to translate the spiritual
and corporeal values of Belief in One God and Just and Enlightened Humanity contained in the 1945 constitution. Indonesian society will move further and further away from the cherished ideals of the founding fathers of the Republic with dire implications on its future prosperity and even of its existence. It has been proposed that the operational objective of maximizing economic growth be replaced by maximizing human capability which is more suited to accommodate the multiplicity of objectives in the 1945 constitution with the different levels of physical, corporeal and spiritual dimensions.
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Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal.185 – 202
Artikel ini merupakan bagian dari hasil penelitian yang bertajuk “Variabiliti Harga Relatif dan Inflasi di Malaysia” yang dibiayai oleh Fakulti Ekonomi dan Perniagaan, UKM Malaysia
Zulkefly Abdul Karim & Norain Mod Asri, M. Farid Wajdi, Antoni
Fakultas Ekonomi dan Perniagaan Universiti Kebangsaan Malaysia
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Fakultas Ekonomi Bung Hatta Padang
ABSTRACT
Di Malaysia, isu serakan dalam perletakan harga boleh diteliti antara wilayah Malaysia Barat (Semenanjung Malaysia) dengan Malaysia Timur (Sabah dan Sarawak). Dari segi sejarah, kedua-dua wilayah tersebut memang terpisah dari segi politik dan ekonomi sehingga tertubuhnya Malaysia pada tahun 1963. Justeru, kajian ini bertujuan untuk memeriksa hubungan antara Indeks Harga Pengguna (IHP) di Semenanjung Malaysia dengan Sabah dan Sarawak. Di samping itu, kajian ini juga bertujuan untuk menentukan Indeks Harga Pengguna (IHP) di wilayah manakah yang menjadi peneraju atau pengikut. Jangka masa kajian bermula dari bulan Januari tahun 1970 hingga bulan Mac tahun 2005 yang melibatkan cerapan sebanyak 423 bulan. Kaedah ekonometrik siri masa telah diaplikasikan dalam kajian ini. Dapatan kajian menunjukkan kewujudan hubungan jangka panjang (kointegrasi) antara Indeks Harga Pengguna (IHP) mengikut wilayah di Malaysia. Dalam jangka panjang, didapati IHP di Malaysia Timur (Sabah dan Sarawak) merupakan indeks harga peneraju, manakala IHP di Semenanjung Malaysia adalah indeks harga pengikut. Walau bagaimanapun, dalam jangka pendek didapati kewujudan hubungan sebab-menyebab dua hala di kalangan IHP mengikut wilayah (kecuali bagi kes Sabah dan Sarawak). Keputusan ujian penguraian varians pula menjelaskan bahawa IHP di Semenanjung Malaysia memberikan pengaruh yang besar dalam menerangkan variasi perubahan terhadap IHP di Sabah dan Sarawak. Hasil kajian ini telah memberikan beberapa implikasi kepada dasar kawalan harga yang perlu dilakukan oleh pihak kerajaan untuk mengawal kestabilan harga.
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Vol. 7, No. 2, Desember 2006, hal.185 – 202
Artikel ini merupakan bagian dari hasil penelitian yang bertajuk “Variabiliti Harga Relatif dan Inflasi di Malaysia” yang dibiayai oleh Fakulti Ekonomi dan Perniagaan, UKM Malaysia
Zulkefly Abdul Karim & Norain Mod Asri, M. Farid Wajdi, Antoni
Fakultas Ekonomi dan Perniagaan Universiti Kebangsaan Malaysia
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Fakultas Ekonomi Bung Hatta Padang
ABSTRACT
Di Malaysia, isu serakan dalam perletakan harga boleh diteliti antara wilayah Malaysia Barat (Semenanjung Malaysia) dengan Malaysia Timur (Sabah dan Sarawak). Dari segi sejarah, kedua-dua wilayah tersebut memang terpisah dari segi politik dan ekonomi sehingga tertubuhnya Malaysia pada tahun 1963. Justeru, kajian ini bertujuan untuk memeriksa hubungan antara Indeks Harga Pengguna (IHP) di Semenanjung Malaysia dengan Sabah dan Sarawak. Di samping itu, kajian ini juga bertujuan untuk menentukan Indeks Harga Pengguna (IHP) di wilayah manakah yang menjadi peneraju atau pengikut. Jangka masa kajian bermula dari bulan Januari tahun 1970 hingga bulan Mac tahun 2005 yang melibatkan cerapan sebanyak 423 bulan. Kaedah ekonometrik siri masa telah diaplikasikan dalam kajian ini. Dapatan kajian menunjukkan kewujudan hubungan jangka panjang (kointegrasi) antara Indeks Harga Pengguna (IHP) mengikut wilayah di Malaysia. Dalam jangka panjang, didapati IHP di Malaysia Timur (Sabah dan Sarawak) merupakan indeks harga peneraju, manakala IHP di Semenanjung Malaysia adalah indeks harga pengikut. Walau bagaimanapun, dalam jangka pendek didapati kewujudan hubungan sebab-menyebab dua hala di kalangan IHP mengikut wilayah (kecuali bagi kes Sabah dan Sarawak). Keputusan ujian penguraian varians pula menjelaskan bahawa IHP di Semenanjung Malaysia memberikan pengaruh yang besar dalam menerangkan variasi perubahan terhadap IHP di Sabah dan Sarawak. Hasil kajian ini telah memberikan beberapa implikasi kepada dasar kawalan harga yang perlu dilakukan oleh pihak kerajaan untuk mengawal kestabilan harga.
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ANALISIS UJI KAUSALITAS PENERIMAAN PAJAK DAN PENGELUARAN PEMERINTAH DI KOTA SURAKARTA DENGAN MENGGUNAKAN METODE GRANGER TAHUN 1978-2003
Labels:
granger
Sarastika Indrawati dan Daryono Soebagiyo
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
ABSTRACT
This research aim to analyse relation pattern between tax income (Tx) with government expenditure (G) in Surakarta. Referring to that made hypothesis that
tax income have causality with government expenditure. This research use time series data with period of year 1978 - 2003. Analysis result mention that there is causality unidirectional/one way pattern of tax income to government expenditure in Surakarta. It is mean that the increasing of tax income push government expenditure. But, the increasing of government expenditure will not push tax income in Surakarta.
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Fakultas Ekonomi Universitas Muhammadiyah Surakarta
ABSTRACT
This research aim to analyse relation pattern between tax income (Tx) with government expenditure (G) in Surakarta. Referring to that made hypothesis that
tax income have causality with government expenditure. This research use time series data with period of year 1978 - 2003. Analysis result mention that there is causality unidirectional/one way pattern of tax income to government expenditure in Surakarta. It is mean that the increasing of tax income push government expenditure. But, the increasing of government expenditure will not push tax income in Surakarta.
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RANCANGAN MODEL PENENTUAN UPAH MINIMUM KABUPATEN/PERKOTAAN (UMK/P) DI SUBOSUKAWONOSRATEN TAHUN 2006-2008
Labels:
remunerate
Sutomo dan Yunastiti Purwaningsih
Fakultas Ekonomi Universitas Sebelas Maret Surakarta
Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal. 150 - 162
ABSTRACT
This research aim is to compile design of calculation manual program of regency/city minimum wage (UMK) for worker paid attention various
consideration, and agreed on by various relevant side in determination of minimum wage in Subosukawonosraten at period 2006-2008. This research is expected well for worker and for council of remunerating region as consideration material to all representatives of worker union and entrepreneur in determining proposal of regency and city minimum wage at period 2006-2008.
This research regarding base making of design model to determine UMK/P. Data that needed is KHM and KHL collected with survey method to merchants in some market in Subosukawonosraten, another data are inflation, PDRB, and labors amount from data publication of BPS Subosukawonosraten. Model used is projection method to determine level of UMK, the projection appropriate with Kepmenaker number 1, 1999, Permenaker number 17, 2005, and modification of model projection. The result of this research is guide book of UMP/K determination which contain data, formula and its simulation, determination result of UMK for Subosukawonosraten region, and identify its supporting data.
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Fakultas Ekonomi Universitas Sebelas Maret Surakarta
Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal. 150 - 162
ABSTRACT
This research aim is to compile design of calculation manual program of regency/city minimum wage (UMK) for worker paid attention various
consideration, and agreed on by various relevant side in determination of minimum wage in Subosukawonosraten at period 2006-2008. This research is expected well for worker and for council of remunerating region as consideration material to all representatives of worker union and entrepreneur in determining proposal of regency and city minimum wage at period 2006-2008.
This research regarding base making of design model to determine UMK/P. Data that needed is KHM and KHL collected with survey method to merchants in some market in Subosukawonosraten, another data are inflation, PDRB, and labors amount from data publication of BPS Subosukawonosraten. Model used is projection method to determine level of UMK, the projection appropriate with Kepmenaker number 1, 1999, Permenaker number 17, 2005, and modification of model projection. The result of this research is guide book of UMP/K determination which contain data, formula and its simulation, determination result of UMK for Subosukawonosraten region, and identify its supporting data.
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ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI TINGKAT UPAH PEKERJA SEKTOR INFORMAL DI KOTA SURAKARTA
Labels:
level of income
Anton Agus Setyawan and Mujiyati
Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal. 150 - 162
ABSTRACT
The development of informal sektor in many cities in Indonesia, interests many scholars to analyze it. This research tries to describe and analyze the phenomena of under employment and gender discrimination in the informal sektor at Surakarta. This research aims is to analyze the effects of education level, work experience and gender to productivity. The measurement of productivity uses level of income. This research tries to test the model proposed by Mincer (1974) and Jones (2001). The model contains of four variables, they are: level of education, work experience and gender as the independent variable, while level of income is the dependent variable. To test our hypotheses we use double log econometric models. The setting of this research is micro retail entrepreneur or in Indonesia they called PKL. PKL which become our respondents are those who locate in three PKL center in Surakarta. Their location at around Monument 45, Manahan Stadium and Kotta Barat field. Our sampling method is purposive-sampling method and we interviewed 100 respondents to complete the data. The result shows that there are no positive correlation between level of education and gender to level of income. While work experience seems to have a positive effect to level of income. It concludes that there is a under employment phenomena in informal sektor at Surakarta. While the hypotheses which said that there are gender discrimination is not supported.
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Jurnal Ekonomi Pembangunan
Vol. 7, No. 2, Desember 2006, hal. 150 - 162
ABSTRACT
The development of informal sektor in many cities in Indonesia, interests many scholars to analyze it. This research tries to describe and analyze the phenomena of under employment and gender discrimination in the informal sektor at Surakarta. This research aims is to analyze the effects of education level, work experience and gender to productivity. The measurement of productivity uses level of income. This research tries to test the model proposed by Mincer (1974) and Jones (2001). The model contains of four variables, they are: level of education, work experience and gender as the independent variable, while level of income is the dependent variable. To test our hypotheses we use double log econometric models. The setting of this research is micro retail entrepreneur or in Indonesia they called PKL. PKL which become our respondents are those who locate in three PKL center in Surakarta. Their location at around Monument 45, Manahan Stadium and Kotta Barat field. Our sampling method is purposive-sampling method and we interviewed 100 respondents to complete the data. The result shows that there are no positive correlation between level of education and gender to level of income. While work experience seems to have a positive effect to level of income. It concludes that there is a under employment phenomena in informal sektor at Surakarta. While the hypotheses which said that there are gender discrimination is not supported.
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INFORMASI LABA PERUSAHAAN HUBUNGANNYA DENGAN DINAMIKA PERUBAHAN HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK JAKARTA TAHUN 2001
Budi Sutrisno, Retno
Abstraksi
Penelitian ini dilakukan dengan tujuan untuk mengetahui apakah variabel-variabel informasi laba perusahaan yang meliputi NPM, ROI dan ROE mempunyai hubungan yang signifikan dengan harga saham. Sampel yang digunakan adalah 60 perusahaan manufaktur pada PT Bursa Efek Jakarta yang diambil dengan pendekatan purposive sampling. Ada dua variabel yang diangkat, yaitu : rata-rata harga saham sebagai variabel dependen dan informasi laba sesudah pajak yang diwakili rasio profitabilitas NPM, ROI dan ROE sebagai variabel independen. Data sekunder berupa rasio-rasio profitabilitas yang meliputi NPM, ROI dan ROE dari ICMD 2002 dan data harga saham harian sebelum dan sesudah penutupan dengan periode pengamatan lima hari sebelum dan lima hari sesudah publikasi dari perusahaan yang mempublikasikan laporan keuangan per 31 Desember 2001 pada bulan Maret dan April 2002.
Teknik statistik non-parametrik dengan uji korelasi Jenjang Spearman, digunakan untuk menguji koneksi antar variabel yang dihipotesiskan. Hasil uji statistik yang diolah dengan komputasi program SPSS menunjukkan bahwa korelasi antara NPM dengan harga saham sebelum publikasi dan harga saham sesudah publikasi adalah tidak signifikan. Hal ini ditunjukkan oleh koefisien probabilitas 0,201 dan 0,146 > 0,05. Demikian pula untuk korelasi antara ROI dengan harga saham sebelum publikasi dan harga saham sesudah publikasi adalah tidak signifikan dengan koefisien probabilitas 0,129 dan 0,085 > 0,05. Sedangkan korelasi antara ROE dengan harga saham sebelum publikasi dan harga saham sesudah publikasi adalah signifikan dengan koefisien probabilitas 0,008 dan 0,004 dibawah 0,05.
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Abstraksi
Penelitian ini dilakukan dengan tujuan untuk mengetahui apakah variabel-variabel informasi laba perusahaan yang meliputi NPM, ROI dan ROE mempunyai hubungan yang signifikan dengan harga saham. Sampel yang digunakan adalah 60 perusahaan manufaktur pada PT Bursa Efek Jakarta yang diambil dengan pendekatan purposive sampling. Ada dua variabel yang diangkat, yaitu : rata-rata harga saham sebagai variabel dependen dan informasi laba sesudah pajak yang diwakili rasio profitabilitas NPM, ROI dan ROE sebagai variabel independen. Data sekunder berupa rasio-rasio profitabilitas yang meliputi NPM, ROI dan ROE dari ICMD 2002 dan data harga saham harian sebelum dan sesudah penutupan dengan periode pengamatan lima hari sebelum dan lima hari sesudah publikasi dari perusahaan yang mempublikasikan laporan keuangan per 31 Desember 2001 pada bulan Maret dan April 2002.
Teknik statistik non-parametrik dengan uji korelasi Jenjang Spearman, digunakan untuk menguji koneksi antar variabel yang dihipotesiskan. Hasil uji statistik yang diolah dengan komputasi program SPSS menunjukkan bahwa korelasi antara NPM dengan harga saham sebelum publikasi dan harga saham sesudah publikasi adalah tidak signifikan. Hal ini ditunjukkan oleh koefisien probabilitas 0,201 dan 0,146 > 0,05. Demikian pula untuk korelasi antara ROI dengan harga saham sebelum publikasi dan harga saham sesudah publikasi adalah tidak signifikan dengan koefisien probabilitas 0,129 dan 0,085 > 0,05. Sedangkan korelasi antara ROE dengan harga saham sebelum publikasi dan harga saham sesudah publikasi adalah signifikan dengan koefisien probabilitas 0,008 dan 0,004 dibawah 0,05.
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Financial Distress, Bankruptcy Law and the Business Cycle
Labels:
bankruptcy law,
business cycles,
financial distress
(Formerly: “A Stylized Model of Financially-Driven Business Cycles”)
Oren Sussman, Saïd Business School, University of Oxford
Javier Suarez, CEMFI and CEPR
June 2, 2005
Abstract
This paper explores the business cycle implications of financial distress and bankruptcy law. We find that due to the presence of financial imperfections the effect of liquidations on the price of capital goods can generate endogenous fluctuations. We show that a law reform that ‘softens’ bankruptcy law may increase the amplitude of the cycle in the long run. In contrast, a policy of bailing out businesses during the bust, or actively managing the interest rate across the cycle, could stabilize the economy in the long run. A comprehensive welfare analysis of the policy is provided as well.
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Oren Sussman, Saïd Business School, University of Oxford
Javier Suarez, CEMFI and CEPR
June 2, 2005
Abstract
This paper explores the business cycle implications of financial distress and bankruptcy law. We find that due to the presence of financial imperfections the effect of liquidations on the price of capital goods can generate endogenous fluctuations. We show that a law reform that ‘softens’ bankruptcy law may increase the amplitude of the cycle in the long run. In contrast, a policy of bailing out businesses during the bust, or actively managing the interest rate across the cycle, could stabilize the economy in the long run. A comprehensive welfare analysis of the policy is provided as well.
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ANALISIS HUBUNGAN INVESTMENT OPPORTUNITY SET (IOS) DENGAN REALISASI PERTUMBUHAN SERTA PERBEDAAN PERUSAHAAN YANG TUMBUH DAN TIDAK TUMBUH TERHADAP KEBIJAKAN PENDANAAN DAN DIVIDEN DI BURSA EFEK JAKARTA
Analysis of Investment Opportunity Set (IOS) Relation with Growth Realization and the Difference of Growing and Ungrowing Companies on Fund Policy and Dividend Policy in Jakarta Stock Exchange
Oleh : Isnaeni Rokhayati
Abstract
The aim of this research was to find out the correlation of IOS set value as the proxy of company’s growth to company’s growth realization and to test the difference between fund policy and dividend policy between company classified as growing campanies and ungrowing companies. There are seven (7) IOS variables used as the indicators of company’s growth, i.e.: Market to book value of asset (MVABVA), Market to book value of equity (MVEBVE), Price to earning ratio (PER), Capital expenditure to book value of asset (CAPBVA), Capital expenditure to market value of asset (CAPMVA), Firm to book value of property, plant and equipment (VPPE), and Current asset to net sales (CAONS). Those seven variables were correlation by Spearman Rank method to average company’s growth after IOS value was calculated. The company’s growth was proxied with sales, profit, equity and asset growth. In order to determine the company’s classification, several analysis were used. Based on the result of factor analysis, 23 growing companies and 13 ungrowing companies were determined from BEJ public company that met the requirement. From the research result, it can be found that all IOS variables have different correlation to all components of company’s growth realization. The significant positive correlation for growing companies was occurred in MVEBVE to sales by 0.389 and to equity growth by 0.708. MVABVA ratio to equity growth was 0.667. CAPBVA ratio to
assets growth by 0.377. VPPE to sales growth was 0.364 and to equity growth was 0.632. For ungrowing companies the significant positive correlation was occurred in CAPBVA to profit growth by 0.505 and CAPMVA ratio to assets by 0.538. Significant negative correlation for growing companies was occurred in CAPMVA to equity growth by –0.483. For ungrowinng companies the significant negative correlation was occurred in PER to profit growth by –0.479. CAONS ratio to sales growth was –0.484 and to equity growth was –0.533. From the testing of fund policy, it can be fund that market debt to
equity ratio has insignificant correlation by 0.779 but book debt to equity ratio has a significant correlation direction by 0.027. From the testing of dividend policy it can be found that dividend payout ratio has insignificant correlation in amount of 0.332, beside dividend yields ratio has significant correlation in amount of 0.000 to company dividend policy.
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Analysis of Investment Opportunity Set (IOS) Relation with Growth Realization and the Difference of Growing and Ungrowing Companies on Fund Policy and Dividend Policy in Jakarta Stock Exchange
Oleh : Isnaeni Rokhayati
Abstract
The aim of this research was to find out the correlation of IOS set value as the proxy of company’s growth to company’s growth realization and to test the difference between fund policy and dividend policy between company classified as growing campanies and ungrowing companies. There are seven (7) IOS variables used as the indicators of company’s growth, i.e.: Market to book value of asset (MVABVA), Market to book value of equity (MVEBVE), Price to earning ratio (PER), Capital expenditure to book value of asset (CAPBVA), Capital expenditure to market value of asset (CAPMVA), Firm to book value of property, plant and equipment (VPPE), and Current asset to net sales (CAONS). Those seven variables were correlation by Spearman Rank method to average company’s growth after IOS value was calculated. The company’s growth was proxied with sales, profit, equity and asset growth. In order to determine the company’s classification, several analysis were used. Based on the result of factor analysis, 23 growing companies and 13 ungrowing companies were determined from BEJ public company that met the requirement. From the research result, it can be found that all IOS variables have different correlation to all components of company’s growth realization. The significant positive correlation for growing companies was occurred in MVEBVE to sales by 0.389 and to equity growth by 0.708. MVABVA ratio to equity growth was 0.667. CAPBVA ratio to
assets growth by 0.377. VPPE to sales growth was 0.364 and to equity growth was 0.632. For ungrowing companies the significant positive correlation was occurred in CAPBVA to profit growth by 0.505 and CAPMVA ratio to assets by 0.538. Significant negative correlation for growing companies was occurred in CAPMVA to equity growth by –0.483. For ungrowinng companies the significant negative correlation was occurred in PER to profit growth by –0.479. CAONS ratio to sales growth was –0.484 and to equity growth was –0.533. From the testing of fund policy, it can be fund that market debt to
equity ratio has insignificant correlation by 0.779 but book debt to equity ratio has a significant correlation direction by 0.027. From the testing of dividend policy it can be found that dividend payout ratio has insignificant correlation in amount of 0.332, beside dividend yields ratio has significant correlation in amount of 0.000 to company dividend policy.
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(Model Penentuan Harga IPO di Bursa Efek Jakarta dengan Menggunakan Metode Real Option)
Hakiman, 2005, Universitas Padjajaran
Abstract
Undervalue Phenomena of IPO has common in the stock market around the world also in Jakarta Stock Exchange (BEJ). Data's from 1996 to June 2004 shows that there were 147 new emitent with 72.72% were undervalue. 11.88% overvalue, and 15.4% at price on the closing of the first trading day, On the closing of the 30th trading day the stock prices became 73.42% undervalue, 21.69% overvalue and 4.89% constant.
Many research and theories have been emerged, but unfortunately no research on determining the IPO price using the Option Method has been done.
This research applies the Real Option model based on the Black and Scholes equation and simultaneously uses the implied volatility model to calculate the price of the variant. The result is deviation of the Real Option Model to actual price less than the Traditional model, which shows that the Real Option Model is more accurate than the Traditional Model.
This research also develop an equation to predict the shares price after IPO, whether it will go to the state of being undervalued or overvalued. The logistics equation with the independent variable is equal to the option variable from the Black and Scholes equation. To increase the accuracy of the prediction model the variable Public is added. The Prediction model can predict 71% prices after IPO.
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Hakiman, 2005, Universitas Padjajaran
Abstract
Undervalue Phenomena of IPO has common in the stock market around the world also in Jakarta Stock Exchange (BEJ). Data's from 1996 to June 2004 shows that there were 147 new emitent with 72.72% were undervalue. 11.88% overvalue, and 15.4% at price on the closing of the first trading day, On the closing of the 30th trading day the stock prices became 73.42% undervalue, 21.69% overvalue and 4.89% constant.
Many research and theories have been emerged, but unfortunately no research on determining the IPO price using the Option Method has been done.
This research applies the Real Option model based on the Black and Scholes equation and simultaneously uses the implied volatility model to calculate the price of the variant. The result is deviation of the Real Option Model to actual price less than the Traditional model, which shows that the Real Option Model is more accurate than the Traditional Model.
This research also develop an equation to predict the shares price after IPO, whether it will go to the state of being undervalued or overvalued. The logistics equation with the independent variable is equal to the option variable from the Black and Scholes equation. To increase the accuracy of the prediction model the variable Public is added. The Prediction model can predict 71% prices after IPO.
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HUBUNGAN KADAR OVERNIGHT MONEY ANTARA BANK KONVENSIONAL DENGAN BANK ISLAM : BUKTI EMPIRIK DI MALAYSIA
Zulkefly Abdul Karim & Norain Mod Asri
Fakulti Ekonomi dan Perniagaan Universiti Kebangsaan Malaysia
M. Farid Wajdi
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Antoni
Fakultas Ekonomi Universitas Bung Hatta, Padang
Abstract
The objective of this study is to examine the relationship between overnight money of Islamic bank and conventional bank based on daily data begins from 12th October 1998 until 10th June 2005. This study is important to determine whether overnight money of conventional bank or overnight money of Islamic bank, become the leader or follower in the interbank money market. The econometrics tests such as unit root test, VAR model and Granger causality test have been applied. Result shows that both variables are stationary at level form or I(0). This implies that we don’t need to further analysis with cointegration test. In this case, we appllied the traditional model of VAR and Granger causality test. Empirical findings indicates that the existence of bi-directional causality between overnight money of Islamic bank and conventional bank.
PENDAHULUAN
Kestabilan kadar bunga merupakan prasyarat pertumbuhan kegiatan ekonomi dalam jangka panjang. Misalnya, menurut McKinnon (1973) kadar bunga benar yang positif adalah diperlukan untuk menggalakkan agen ekonomi membuat pengumpulan baki uang benar, meningkatkan pengantara keuangan dan penyatuan pasar keuangan yang bisa menyalurkan sumber ekonomi secara tepat untuk menjana pertumbuhan ekonomi. Situasi ini dapat dicapai jika kadar bunga domestik dibiarkan bergerak secara bebas dalam pasar tanpa campur tangan kerajaan. Bagaimanapun, pengalaman negara Malaysia telah menunjukkan liberalisasi kadar bunga sejak tahun 1978 telah menyebabkan persaingan yang hebat di kalangan lembaga keuangan dalam menawarkan kadar bunga yang kompetitif. Hal ini menyebabkan kadar bunga pinjaman dan simpanan mengalami volatiliti yang kerap terjadi dan menyulitkan proses membuat keputusan pelaburan dan menyimpan. Keadaan demikian menyebabkan Bank Negara ...
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Fakulti Ekonomi dan Perniagaan Universiti Kebangsaan Malaysia
M. Farid Wajdi
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Antoni
Fakultas Ekonomi Universitas Bung Hatta, Padang
Abstract
The objective of this study is to examine the relationship between overnight money of Islamic bank and conventional bank based on daily data begins from 12th October 1998 until 10th June 2005. This study is important to determine whether overnight money of conventional bank or overnight money of Islamic bank, become the leader or follower in the interbank money market. The econometrics tests such as unit root test, VAR model and Granger causality test have been applied. Result shows that both variables are stationary at level form or I(0). This implies that we don’t need to further analysis with cointegration test. In this case, we appllied the traditional model of VAR and Granger causality test. Empirical findings indicates that the existence of bi-directional causality between overnight money of Islamic bank and conventional bank.
PENDAHULUAN
Kestabilan kadar bunga merupakan prasyarat pertumbuhan kegiatan ekonomi dalam jangka panjang. Misalnya, menurut McKinnon (1973) kadar bunga benar yang positif adalah diperlukan untuk menggalakkan agen ekonomi membuat pengumpulan baki uang benar, meningkatkan pengantara keuangan dan penyatuan pasar keuangan yang bisa menyalurkan sumber ekonomi secara tepat untuk menjana pertumbuhan ekonomi. Situasi ini dapat dicapai jika kadar bunga domestik dibiarkan bergerak secara bebas dalam pasar tanpa campur tangan kerajaan. Bagaimanapun, pengalaman negara Malaysia telah menunjukkan liberalisasi kadar bunga sejak tahun 1978 telah menyebabkan persaingan yang hebat di kalangan lembaga keuangan dalam menawarkan kadar bunga yang kompetitif. Hal ini menyebabkan kadar bunga pinjaman dan simpanan mengalami volatiliti yang kerap terjadi dan menyulitkan proses membuat keputusan pelaburan dan menyimpan. Keadaan demikian menyebabkan Bank Negara ...
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ANALISIS HUBUNGAN ANTARA ATRIBUT KONSUMEN DENGAN ATRIBUT PRODUK DALAM KEPUTUSAN PEMBELIAN BUKU DI TOKO BUKU GRAMEDIA SURAKARTA
Labels:
Marketing Journal
Chuzaimah & Sujadi
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
This research aim to analyse relation among consumer attribute (gender, age, earnings and work) with product attribute (promotion, quality of and price) and to know tightest related degree. Formulation this research internal issue do there is relation among consumer attribute covering gender, age, earnings, and work to product attribute covering promotion, quality of, price, and tidiness at Bookstore Gramedia Surakarta. Hypothesizing in this research is anticipated there is related among consumer attribute covering gender, age, work and earnings to product attribute covering promotion, quality of, tidiness and price at Bookstore Gramedia Surakarta by significant Result of research indicates that there are relation among gender with promotion, quality, price, tidiness. There are relation among age with promotion, quality, price, tidiness, promotion, quality, price and tidiness. There are relation among work with promotion, quality, price, and tidiness. Calculation of Contiguity among C with Cmaks indicate that related degree sequence among consumer characteristic (gender, age, earnings and work) with product characteristic (promotion, quality of, tidiness and price) having tightest relation is earnings storey with quality, this matter is proved from value contiguity of C with smallest C maks.
PENDAHULUAN
Pemahaman akan perilaku konsumen sangat penting bagi perusahaan untuk mengetahui perubahan yang terjadi pada konsumen. Perilaku konsumen juga akan menentukan proses pengambilan keputusan dalam pembelian untuk setiap konsumen adalah sama, namun seluruh proses tidak selalu dilaksanakan oleh konsumen. Proses pengambilan keputusan merupakan sebuah pendekatan penyelesaian masalah pada kegiatan manusia untuk membeli suatu barang atau jasa dalam memenuhi kebutuhannya. Perusahaan yang memahami bagaimana konsumen akan bereaksi terhadap ciri-ciri produk yang berbeda yang meliputi daya tarik iklan, harga, jenis produk, selera konsumen, bentuk dan kemasan. Hal itu akan mendorong perusahaan untuk membuat produk yang dapat memenuhi keinginan konsumen, sehingga dapat meningkatkan volume penjualan dan meraih keuntungan yang lebih ....
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Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
This research aim to analyse relation among consumer attribute (gender, age, earnings and work) with product attribute (promotion, quality of and price) and to know tightest related degree. Formulation this research internal issue do there is relation among consumer attribute covering gender, age, earnings, and work to product attribute covering promotion, quality of, price, and tidiness at Bookstore Gramedia Surakarta. Hypothesizing in this research is anticipated there is related among consumer attribute covering gender, age, work and earnings to product attribute covering promotion, quality of, tidiness and price at Bookstore Gramedia Surakarta by significant Result of research indicates that there are relation among gender with promotion, quality, price, tidiness. There are relation among age with promotion, quality, price, tidiness, promotion, quality, price and tidiness. There are relation among work with promotion, quality, price, and tidiness. Calculation of Contiguity among C with Cmaks indicate that related degree sequence among consumer characteristic (gender, age, earnings and work) with product characteristic (promotion, quality of, tidiness and price) having tightest relation is earnings storey with quality, this matter is proved from value contiguity of C with smallest C maks.
PENDAHULUAN
Pemahaman akan perilaku konsumen sangat penting bagi perusahaan untuk mengetahui perubahan yang terjadi pada konsumen. Perilaku konsumen juga akan menentukan proses pengambilan keputusan dalam pembelian untuk setiap konsumen adalah sama, namun seluruh proses tidak selalu dilaksanakan oleh konsumen. Proses pengambilan keputusan merupakan sebuah pendekatan penyelesaian masalah pada kegiatan manusia untuk membeli suatu barang atau jasa dalam memenuhi kebutuhannya. Perusahaan yang memahami bagaimana konsumen akan bereaksi terhadap ciri-ciri produk yang berbeda yang meliputi daya tarik iklan, harga, jenis produk, selera konsumen, bentuk dan kemasan. Hal itu akan mendorong perusahaan untuk membuat produk yang dapat memenuhi keinginan konsumen, sehingga dapat meningkatkan volume penjualan dan meraih keuntungan yang lebih ....
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ANALISIS SIKAP DAN NIAT MEMBELI KAUM MUDA DI SURAKARTA TERHADAP PAKAIAN BATIK
Labels:
Marketing Journal
Kussudyarsana
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
In recent time, Batik, as a traditional fashion not fully intention to the youth market. The Youth market, are very potential market that profitable for Batik Fashion Industry. This research try to answer the question about attitude and intention to buy of the young people toward batik. The author predict negative attitude but positive normative belief effect intention to buy of young people toward Batik.
This research uses non-random sampling method (convenience sampling) in order to collect data. One hundred young people are used as respondent. Majority of those respondents are student in university. Data were collected using self-administrative questionnaire. The result suggested model not fully confirm to reason action theory, because normative belief did not effect toward intention to buy. However, attitude had effect toward intention to buy. The study result could be taken into account any policies that link the all of characteristic used the study.
PENDAHULUAN
Industri batik di kota Solo, sudah lama berkembang dan menjadi lokomotif perekonomian di kota ini. Banyak perusahaan kecil, menengah dan besar menggantungkan ekonominya dari industri ini. Produk batik telah berkembang dengan berbagai motif dan corak serta dengan berbagai kegunaan. Di masyarakat Solo dan Jawa pada umumnya pakaian batik bahkan menjadi pakaian yang banyak digunakan untuk acara-acara resmi kemasyarakatan seperti resepsi pernikahan, kematian, acara keluarga dan lain sebagainya. Batik telah menjadi identitas budaya Surakarta. Batik, secara umum telah diterima masyarakat Solo. Namun demikian, bagi kaum muda batik belum menjadi produk yang populer. Dari sisi produksi, semakin sedikit anak muda yang menguasai teknik membatik karena lapangan kerja pada industri batik tidak menjajikan tingkat upah yang cukup tinggi. Banyak perusahaan kesulitan memperoleh tenaga kerja muda yang mampu dan mau terjun dalam produksi batik (Solo Pos, 2004). Penelitian yang dilakukan oleh UNIBA (2004) memperlihatkan bahwa proses regenerasi pada perusahaan Batik di Solo, dan khususnya di Kampung Laweyan mengalami hambatan. Dari sisi pemasaran, pasar batik untuk....
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Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
In recent time, Batik, as a traditional fashion not fully intention to the youth market. The Youth market, are very potential market that profitable for Batik Fashion Industry. This research try to answer the question about attitude and intention to buy of the young people toward batik. The author predict negative attitude but positive normative belief effect intention to buy of young people toward Batik.
This research uses non-random sampling method (convenience sampling) in order to collect data. One hundred young people are used as respondent. Majority of those respondents are student in university. Data were collected using self-administrative questionnaire. The result suggested model not fully confirm to reason action theory, because normative belief did not effect toward intention to buy. However, attitude had effect toward intention to buy. The study result could be taken into account any policies that link the all of characteristic used the study.
PENDAHULUAN
Industri batik di kota Solo, sudah lama berkembang dan menjadi lokomotif perekonomian di kota ini. Banyak perusahaan kecil, menengah dan besar menggantungkan ekonominya dari industri ini. Produk batik telah berkembang dengan berbagai motif dan corak serta dengan berbagai kegunaan. Di masyarakat Solo dan Jawa pada umumnya pakaian batik bahkan menjadi pakaian yang banyak digunakan untuk acara-acara resmi kemasyarakatan seperti resepsi pernikahan, kematian, acara keluarga dan lain sebagainya. Batik telah menjadi identitas budaya Surakarta. Batik, secara umum telah diterima masyarakat Solo. Namun demikian, bagi kaum muda batik belum menjadi produk yang populer. Dari sisi produksi, semakin sedikit anak muda yang menguasai teknik membatik karena lapangan kerja pada industri batik tidak menjajikan tingkat upah yang cukup tinggi. Banyak perusahaan kesulitan memperoleh tenaga kerja muda yang mampu dan mau terjun dalam produksi batik (Solo Pos, 2004). Penelitian yang dilakukan oleh UNIBA (2004) memperlihatkan bahwa proses regenerasi pada perusahaan Batik di Solo, dan khususnya di Kampung Laweyan mengalami hambatan. Dari sisi pemasaran, pasar batik untuk....
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INTELLECTUAL CAPITAL REALIZATION PROCESS (ICRP), SEBUAH UPAYA MEMETAKAN DAN MEMBENTUK PERSEDIAAN INTELLECTUAL CAPITAL BAGI PERUSAHAAN
Elvia Ivada & Andy Dwi Bayu Bawono
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
Although Intellectual Capital has become widely accepted as part of the most important assets for an organization, it is still confusing even to recognize it, according to its characteristic that it is commonly hidden. It is not visible just like traditional assets are, and largely absent from the financial statement. Trough the Intellectual Capital Realization Process, organizations can map and create an inventory of their IC, so they can use it as a competitive advantage that will bring wealth to the organization. ICRP is consistent with Resource-Based View (RBV) of the firm that suggests an organization analysis of its internal resources drives its strategic direction.
PENDAHULUAN
Abad industri telah berganti menjadi abad informasi, perusahaan yang dapat menguasai teknologi dan informasilah yang akan menjadi pemenang dalam persaingan global. Perusahaan yang berbasis bisnis konvensional, dengan sadar atau hanya sebagai pengikut trend merubah organisasinya menjadi berbasis pengetahuan. Penguasaan ilmu pengetahuan bagi sebuah perusahaan menjadi sebuah keniscayaan. Hal ini dikarenakan kondisi persaingan yang terus menerus mengalami perubahan sehingga menuntut perusahaan harus selalu inovatif dan mengembangkan diferensiasi produknya. Dengan demikian, investasi di bidang teknologi atau ilmu pengetahuan menjadi tidak terelakkan. Fenomena ini telah ditangkap oleh Ralph Stayer dan Thomas A. Stewart (Stewart 2002:xv) yang menyatakan bahwa sumber terpenting dan kekayaan terpenting perusahaan telah berganti, dari sumber daya alam, aset berwujud, menjadi Intellectual Capital yang sesuai dengan namanya yaitu adalah aset intelektual atau aset yang berhubungan dengan ilmu pengetahuan. Dengan kata lain, ilmu pengetahuan adalah aset terpenting bagi perusahaan. Secara tipikal, sumber daya disajikan dalam neraca perusahaan sebagai aset fisik atau finansial. Meskipun demikian, untuk banyak perusahaan yang beroperasi dalam bidang industri yang berbasis pengetahuan, mungkin aset terpenting yang mereka miliki yang tidak pernah muncul dalam ...
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Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
Although Intellectual Capital has become widely accepted as part of the most important assets for an organization, it is still confusing even to recognize it, according to its characteristic that it is commonly hidden. It is not visible just like traditional assets are, and largely absent from the financial statement. Trough the Intellectual Capital Realization Process, organizations can map and create an inventory of their IC, so they can use it as a competitive advantage that will bring wealth to the organization. ICRP is consistent with Resource-Based View (RBV) of the firm that suggests an organization analysis of its internal resources drives its strategic direction.
PENDAHULUAN
Abad industri telah berganti menjadi abad informasi, perusahaan yang dapat menguasai teknologi dan informasilah yang akan menjadi pemenang dalam persaingan global. Perusahaan yang berbasis bisnis konvensional, dengan sadar atau hanya sebagai pengikut trend merubah organisasinya menjadi berbasis pengetahuan. Penguasaan ilmu pengetahuan bagi sebuah perusahaan menjadi sebuah keniscayaan. Hal ini dikarenakan kondisi persaingan yang terus menerus mengalami perubahan sehingga menuntut perusahaan harus selalu inovatif dan mengembangkan diferensiasi produknya. Dengan demikian, investasi di bidang teknologi atau ilmu pengetahuan menjadi tidak terelakkan. Fenomena ini telah ditangkap oleh Ralph Stayer dan Thomas A. Stewart (Stewart 2002:xv) yang menyatakan bahwa sumber terpenting dan kekayaan terpenting perusahaan telah berganti, dari sumber daya alam, aset berwujud, menjadi Intellectual Capital yang sesuai dengan namanya yaitu adalah aset intelektual atau aset yang berhubungan dengan ilmu pengetahuan. Dengan kata lain, ilmu pengetahuan adalah aset terpenting bagi perusahaan. Secara tipikal, sumber daya disajikan dalam neraca perusahaan sebagai aset fisik atau finansial. Meskipun demikian, untuk banyak perusahaan yang beroperasi dalam bidang industri yang berbasis pengetahuan, mungkin aset terpenting yang mereka miliki yang tidak pernah muncul dalam ...
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Studi pada Industri Perbankan Swasta di Indonesia
Imron Rosyadi
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
The purpose of this research was to examines and evidence empirically the effects of profitability (NIITA and NIATTA), capitalization (TETA) and liability (CDTD) on the probability of bank’s bankruptcy. The sample are taken from commercial banking listed in Jakarta stock exchange (JSE) in the period of 2001 to 2002. The Logistic regressions model is used to estimate the probability of company’s bankruptcy. The result of this study show that factors: profitability (NIITA and NIATTA), capitalization (TETA) and liability (CDTD) have significant effect to the probability of bank’s bankruptcy. Using analysis of logistic regression the research found that probability bank of bankruptcy (dummy variable) is dependent variable and NIITA, NIATTA, TETA, and CDTD at variable independent.
PENDAHULUAN
Keputusan pemerintah untuk mengurangi jumlah bank-bank yang bermasalah terus berlanjut, pada tanggal 31 Desember 2002 sebanyak 52 bank yang dibekukan operasi atau kegiatan usahanya dan sebanyak 6 bank yang diambil oleh Badan Penyehatan Perbankan Nasional (BPPN). Biaya penyelesaian likuidasi dan pembekuan operasi perbankan sebenarnya dapat dihindari apabila proses pengawasan dari bank sentral berjalan dengan baik. Penciptaan sistem pendeteksian dini dari bank sentral, digunakan untuk mengetahui lebih awal adanya bank-bank yang mengalami kesulitan keuangan dan diupayakan tindakan pencegahannya. Upaya pendeteksian ini bisa dilakukan dengan memanfaatkan laporan keuangan bank tersebut, sehingga dapat dikurangi biaya pemantauan lapangan dan juga dapat dihindarkan biaya penyelesaian kebangkrutan ( Thompson, 1991). Di Amerika Serikat, fenomena kepailitan perusahaan telah menjadi obyek penelitian yang intensif. Salah satu area penelitian telah menghasilkan kajian atas asosiasi informasi laporan keuangan terhadap kemungkinan perusahaan mampu mempertahankan bisnisnya atau harus dinyatakan bermasalah karena gagal secara ekonomi dan keuangan. Tradisi penilaian ini diawali oleh Beaver (1996), kemudian diteruskan antara lain oleh Altman (1968), Altman et, al. (1977) dan Gilbert et, al. (1990).
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Imron Rosyadi
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
The purpose of this research was to examines and evidence empirically the effects of profitability (NIITA and NIATTA), capitalization (TETA) and liability (CDTD) on the probability of bank’s bankruptcy. The sample are taken from commercial banking listed in Jakarta stock exchange (JSE) in the period of 2001 to 2002. The Logistic regressions model is used to estimate the probability of company’s bankruptcy. The result of this study show that factors: profitability (NIITA and NIATTA), capitalization (TETA) and liability (CDTD) have significant effect to the probability of bank’s bankruptcy. Using analysis of logistic regression the research found that probability bank of bankruptcy (dummy variable) is dependent variable and NIITA, NIATTA, TETA, and CDTD at variable independent.
PENDAHULUAN
Keputusan pemerintah untuk mengurangi jumlah bank-bank yang bermasalah terus berlanjut, pada tanggal 31 Desember 2002 sebanyak 52 bank yang dibekukan operasi atau kegiatan usahanya dan sebanyak 6 bank yang diambil oleh Badan Penyehatan Perbankan Nasional (BPPN). Biaya penyelesaian likuidasi dan pembekuan operasi perbankan sebenarnya dapat dihindari apabila proses pengawasan dari bank sentral berjalan dengan baik. Penciptaan sistem pendeteksian dini dari bank sentral, digunakan untuk mengetahui lebih awal adanya bank-bank yang mengalami kesulitan keuangan dan diupayakan tindakan pencegahannya. Upaya pendeteksian ini bisa dilakukan dengan memanfaatkan laporan keuangan bank tersebut, sehingga dapat dikurangi biaya pemantauan lapangan dan juga dapat dihindarkan biaya penyelesaian kebangkrutan ( Thompson, 1991). Di Amerika Serikat, fenomena kepailitan perusahaan telah menjadi obyek penelitian yang intensif. Salah satu area penelitian telah menghasilkan kajian atas asosiasi informasi laporan keuangan terhadap kemungkinan perusahaan mampu mempertahankan bisnisnya atau harus dinyatakan bermasalah karena gagal secara ekonomi dan keuangan. Tradisi penilaian ini diawali oleh Beaver (1996), kemudian diteruskan antara lain oleh Altman (1968), Altman et, al. (1977) dan Gilbert et, al. (1990).
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Fatchurrohman
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
Consumerism has become an important issue in consumer behavior. Consumerism known as a social movement to strengthen the rights and powers of buyers in relation to sellers. There are three institutions which have major role in consumerism, they are consumer organization, government and company. Consumer organization gives information and advocacy to consumer. Government have a responsible in the regulation and legislation of consumer rights. Finally, company have their own role to enforce self regulation about consumerism. Consumerism has developed into green consumerism. It means that consumer emphazises their attention in the environment issue. Consumerism has a major implication to the marketing management in a company. One of them is more attention in producing safe product by the company. Developed country implements consumerism in day to day company strategies while developing countries consider this as a new emerging issue.
PENDAHULUAN
Paradigma manajemen pemasaran modern mengemukakan tujuan perusahaan adalah memberikan kepuasan kepada konsumen. Perusahaan yang menyampaikan value kepada konsumen berarti memberikan kepuasan konsumen. Untuk melakukan hal ini perusahaan perlu mengenali kebutuhan konsumen, caranya dengan mengaktifkan marketing intellegence (Kotler, 2000). Perusahaan kemudian menerapkan sebuah konsep yang disebut customer orientation. Customer orientation adalah tanggung jawab dari seluruh departemen dalam perusahaan bukan hanya departemen pemasaran, dimana setiap departemen fungsional berpartisipasi aktif dalam market intelligence, diseminasi, dan dalam pengembangan kebijakan marketing mix yang tepat (Balakrishnan, 1996). Berdasarkan pengertian ini seharusnya kepentingan konsumen diutamakan. Kepentingan ini bukan hanya untuk meningkatkan profit perusahaan, namun juga peningkatan kualitas hidup konsumen. Peningkatan kualitas hidup konsumen bermakna luas, karena tidak hanya kehidupan material saja, melainkan juga kehidupan spiritual dan sosial. Namun, kenyataan yang kita lihat dunia bisnis mengeksploitasi konsumen secara berlebihan. Kita bisa melihat contoh riil dalam kehidupan kita sehari-hari. Maraknya produk-produk dengan berbagai daya tariknya. Stimuli melalui iklan dan ...
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Fakultas Ekonomi Universitas Muhammadiyah Surakarta
Abstract
Consumerism has become an important issue in consumer behavior. Consumerism known as a social movement to strengthen the rights and powers of buyers in relation to sellers. There are three institutions which have major role in consumerism, they are consumer organization, government and company. Consumer organization gives information and advocacy to consumer. Government have a responsible in the regulation and legislation of consumer rights. Finally, company have their own role to enforce self regulation about consumerism. Consumerism has developed into green consumerism. It means that consumer emphazises their attention in the environment issue. Consumerism has a major implication to the marketing management in a company. One of them is more attention in producing safe product by the company. Developed country implements consumerism in day to day company strategies while developing countries consider this as a new emerging issue.
PENDAHULUAN
Paradigma manajemen pemasaran modern mengemukakan tujuan perusahaan adalah memberikan kepuasan kepada konsumen. Perusahaan yang menyampaikan value kepada konsumen berarti memberikan kepuasan konsumen. Untuk melakukan hal ini perusahaan perlu mengenali kebutuhan konsumen, caranya dengan mengaktifkan marketing intellegence (Kotler, 2000). Perusahaan kemudian menerapkan sebuah konsep yang disebut customer orientation. Customer orientation adalah tanggung jawab dari seluruh departemen dalam perusahaan bukan hanya departemen pemasaran, dimana setiap departemen fungsional berpartisipasi aktif dalam market intelligence, diseminasi, dan dalam pengembangan kebijakan marketing mix yang tepat (Balakrishnan, 1996). Berdasarkan pengertian ini seharusnya kepentingan konsumen diutamakan. Kepentingan ini bukan hanya untuk meningkatkan profit perusahaan, namun juga peningkatan kualitas hidup konsumen. Peningkatan kualitas hidup konsumen bermakna luas, karena tidak hanya kehidupan material saja, melainkan juga kehidupan spiritual dan sosial. Namun, kenyataan yang kita lihat dunia bisnis mengeksploitasi konsumen secara berlebihan. Kita bisa melihat contoh riil dalam kehidupan kita sehari-hari. Maraknya produk-produk dengan berbagai daya tariknya. Stimuli melalui iklan dan ...
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PENGARUH PEMEDIASIAN KOMITMEN ORGANISASIONAL DALAM HUBUNGAN ANTARA KEPUASAN KERJA DAN INTENT TO LEAVE
Labels:
affective,
commitment,
continuance,
intent to leave,
job satisfaction
Studi pada Rumah Sakit di Yogyakarta
Yuni Siswanti
Fakultas Ekonomi Universitas Pembangunan Nasional “Veteran”, Yogyakarta
Abstract
The purpose of this research is to examine the influence of organizational commitment as mediating variable in relation between job satisfaction and intent to leave. The samples were nurses those working at DKT, Panti Rapih, Bethesda, and PKU Muhammadiyah hospital’s in Jogjakarta. Of the 126 questionnaires were distributed to the nurses, 107 data that can employ on this study. The data were collected use 4-item job satisfaction, 6-item for each three dimension organizational commitment, 3-itemintnt to leave. The overall instruments those used in this study were perceptive instruments. Simple regression analysis was used to examine the influence independent variable to dependent variable. Regression analysis (Ballon and Kenny Model’s) was used to examine whether organizational commitment become mediating variable in relation between job satisfaction and intent to leave.
PENDAHULUAN
Penelitian tentang perilaku manusia dengan obyek rumah sakit di negeri ini ternyata menarik dilakukan. Fenomena yang terjadi saat ini terlihat bahwa setiap rumah sakit dituntut untuk meningkatkan kualitas pelayanannya terhadap pasien, karena semakin banyak muncul instansi atas nama untuk kesehatan dan rata-rata mereka berupaya memberi pelayanan optimal kepada masyarakat pengguna jasanya. Dalam rangka meningkatkan pelayanan tersebut, manajemen rumah sakit di Indonesia terpacu untuk senantiasa memperhatikan kualitas sumberdaya manusianya karena mereka adalah elemen yang sangat penting bagi kelangsungan hidup rumah sakit. Di sisi lain, tuntutan dari manajemen rumah sakit, seringkali menimbulkan beragam masalah dalam diri karyawan. Masalah-masalah yang sering dihadapi mereka di antaranya: meningkatnya stres kerja, karena dipacu harus selalu maksimal melayani pasien. Bila stres kerja karyawan tersebut tidak segera diatasi, maka berdampak pada perilaku karyawan yang tidak diinginkan pihak rumah sakit, seperti: kepuasan kerja yang rendah yang dapat berdampak pada komitmen organisasional turun, bahkan yang ...
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Yuni Siswanti
Fakultas Ekonomi Universitas Pembangunan Nasional “Veteran”, Yogyakarta
Abstract
The purpose of this research is to examine the influence of organizational commitment as mediating variable in relation between job satisfaction and intent to leave. The samples were nurses those working at DKT, Panti Rapih, Bethesda, and PKU Muhammadiyah hospital’s in Jogjakarta. Of the 126 questionnaires were distributed to the nurses, 107 data that can employ on this study. The data were collected use 4-item job satisfaction, 6-item for each three dimension organizational commitment, 3-itemintnt to leave. The overall instruments those used in this study were perceptive instruments. Simple regression analysis was used to examine the influence independent variable to dependent variable. Regression analysis (Ballon and Kenny Model’s) was used to examine whether organizational commitment become mediating variable in relation between job satisfaction and intent to leave.
PENDAHULUAN
Penelitian tentang perilaku manusia dengan obyek rumah sakit di negeri ini ternyata menarik dilakukan. Fenomena yang terjadi saat ini terlihat bahwa setiap rumah sakit dituntut untuk meningkatkan kualitas pelayanannya terhadap pasien, karena semakin banyak muncul instansi atas nama untuk kesehatan dan rata-rata mereka berupaya memberi pelayanan optimal kepada masyarakat pengguna jasanya. Dalam rangka meningkatkan pelayanan tersebut, manajemen rumah sakit di Indonesia terpacu untuk senantiasa memperhatikan kualitas sumberdaya manusianya karena mereka adalah elemen yang sangat penting bagi kelangsungan hidup rumah sakit. Di sisi lain, tuntutan dari manajemen rumah sakit, seringkali menimbulkan beragam masalah dalam diri karyawan. Masalah-masalah yang sering dihadapi mereka di antaranya: meningkatnya stres kerja, karena dipacu harus selalu maksimal melayani pasien. Bila stres kerja karyawan tersebut tidak segera diatasi, maka berdampak pada perilaku karyawan yang tidak diinginkan pihak rumah sakit, seperti: kepuasan kerja yang rendah yang dapat berdampak pada komitmen organisasional turun, bahkan yang ...
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ANALISIS GOOD CORPORATE GOVERNANCE DI SEKTOR MANUFAKTUR: PENGARUH PENERAPAN GOOD CORPORATE GOVERNANCE, RETURN ON ASSET, DAN UKURAN PERUSAHAAN TERHADAP NILAI PASAR PERUSAHAAN
Zulfikar
Fakultas Ekonomi Universitas Muhammadiyah Surakarta
source: BENEFIT, Jurnal Manajemen dan Bisnis, Volume 10, No. 2, Desember 2006
Abstract
This study aims to test empirically the impact of implementation good corporate governance on the market value of firms. The Good Corporate Governance Perception Index (IICG) used in this study developed by KNKCGI (2001). Moreover, this study also investigated whether investors also consider other Good Corporate Governance variables. This study examines twenty-eight companies that implemented Good Corporate Governance in Jakarta Stocks Exchange during 2001 to 2002. Regression model analysis is used to identify the effect implementation Good Corporate Governance on market value of firm. The result show that there are no positively impact to implementation Good Corporate Governance with market value of firms.
PENDAHULUAN
Agenda penting yang harus segera direalisasikan oleh pemerintah terkait dengan penandatanganan nota kesepahaman dengan International Monetary Fund (IMF) adalah melakukan perbaikan tata kelola perusahaan perusahaan di Indonesia. Perbaikan tata kelola perusahaan tersebut dimaksudkan untuk meningkatkan kepercayaan investor baik domestik maupun asing. Standar tata kelola yang baik (Good Corporate Governance)
secara internasional sudah banyak diterapkan oleh perusahaan-perusahaan berskala internasional. Komite Nasional Kebijakan Corporate Governance (KNKCG) berpendapat bahwa perusahaan-perusahaan di Indonesia mempunyai tanggungjawab untuk menerapkan standar Good Corporate Governance yang telah diterapkan di tingkat internasional (Warta Ekonomi, 2002). Kepentingan pemegang saham (publik) sebagai pemilik perusahaan dan kreditur sebagai penyandang dana ekstern adalah merupakan salah satu alasan diterapkannya Good Corporate Governance. Sistem Good Corporate Governance yang diterapkan diyakini akan memberikan perlindungan yang efektif kepada pemegang saham dan kreditor untuk memperoleh kembali atas investasi yang ditanamkan. Sehingga Corporate Governance dapat diartikan sebagai seperangkat peraturan yang mengatur hubungan antar..
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PENGARUH SKALA OPERASI DAN STRUKTUR MODAL TERHADAP KINERJA OPERASI BANK UMUM-BPR
Labels:
asset,
capital,
financial performance,
rentability
Arif Julianto Sri Nugroho
Fakultas Ekonomi Universitas Widya Dharma Klaten
source: BENEFIT, Jurnal Manajemen dan Bisnis, Volume 10, No. 2, Desember 2006
Abstract
This study describes the effect of asset structures and capital structures on bank financial performance. Recently, bank financial performance could be seen through bank’s financial report published on mass media. The measurement criterias of bank performance are established by Bank Indonesia based on five aspects of CAMEL ie capital adequacy ratio, assets quality, management, earnings power and liquidity.
This research involves 15 Public Banks and 15 BPR’s at Klaten as samples. The sample periods in this research is one year 2005. The result shows that the capital adequacy ratio, assets quality,
This research involves 15 Public Banks and 15 BPR’s at Klaten as samples. The sample periods in this research is one year 2005. The result shows that the capital adequacy ratio, assets quality, rentability or earnings power, liquidity are not influenced by assets structures and capital structures
PENDAHULUAN
Statement of Financial Accounting Concept No. 1 menyatakan bahwa pelaporan keuangan harus mampu memberikan informasi tentang kinerja perusahaan selama periode tertentu, yang terutama bermanfaat bagi investor dan kreditor untuk penilaian terhadap prospek perusahaan tersebut di masa yang akan datang. Kinerja (performance) menurut kamus bisnis dan manajemen didefinisi-kan sebagai hasil nyata yang dicapai, kadang-kadang dipergunakan untuk menunjukkan dicapainya hasil positip (Tunggal, 1995).
Di samping itu, penilaian kinerja operasi suatu perusahaan juga sangat diperlukan oleh stake holder yang lainnya, misalnya oleh pemerintah, karyawan, dan pihak-pihak lain yang mempunyai kepentingan baik langsung maupun tidak langsung terhadap eksistensi perusahaan untuk penetapan kebijakan perpajakan, pembuatan berbagai regulasi, dan pemberian fasilitas, yang akan berpengaruh terhadap perekonomian secara makro. Karyawan berkepentingan terhadap kinerja operasi perusahaan untuk menjamin kelangsungan kerja mereka, dan menjamin kesejahteraannya. Para analis, underwriter, dan konsultan di bidang keuangan juga memerlukan kinerja operasi suatu perusahaan untuk kepentingan bisnisnya. Meskipun pelaporan bank sudah cukup transparan, namun masih banyak pihak yang merasa tidak paham bagaimana menilai kinerja operasi bank yang baik.
Download Abstract & Preface in pdf here
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