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All Journal ETIKONOMI Jurnal Keuangan dan Perbankan JRABA
R. Heru Kristanto HC
Department Management, FEB UPN Veteran Yogyakarta
Economics, Econometrics & Finance

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The optimal cash holdings speed of adjustment and firm value: An empirical study in Indonesia Heru Kristanto Hendro Cahyono; Mamduh M Hanafi; Bowo Setiyono
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v23i2.2604

Abstract

This study employs two models of the speed of cash holdings adjustment to measure the effect of cash management on firm value, they are the deviation standard cash holding model and partial speed of adjustment model. Using sampling companies from Indonesia during 2001-2017, the study employs some techniques of regression for dynamic panel data with fixed effects, the pooled ordinary least square with fixed effects, and regression moderated analysis. Research findings show that: first, the deviation standard cash holding and partial speed of adjustment affect firm value; second, by using the deviation standard cash holding model,  it shows that managerial ownership, institutional ownership, investment and debt moderate the effect of the deviation standard cash holding on firm value; third, by using the partial speed of adjustment model, it shows that investment moderates the effect of partial speed of adjustment on firm value. The implications of the study are to explain two speed of cash holding adjustment models and their impacts on the increasing trend of firm value.JEL Classification: C33, G31, G34DOI: https://doi.org/10.26905/jkdp.v23i2.2604 
Does Ownership Structure Pay Attention to The Corporate Cash Policy? Evidence in Indonesia Firms R. Heru Kristanto HC; Mamduh M Hanafi
ETIKONOMI Vol 18, No 2 (2019)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (128.019 KB) | DOI: 10.15408/etk.v18i2.10294

Abstract

Cash and its use will connect to many things, such as the performance of corporate governance. This empirical research examines the interaction effect of insider ownership, institutional ownership, and independent board toward the influence of cash policy on the firm value. This research using agency theory framework, corporate governance using Indonesia listed firms’ samples over 2001-2017 (197 firms, 3349 observation). Fixed effect dynamic panel regression and regression-moderated analysis used in this research. We show that these results suggest that the insider ownership, institutional ownership, and independent board strengthen the influence of the corporate cash policy on firm’s value. It develops the previous research findings in Indonesia, especially in the implication of cash management from the perspective of agency theory and corporate governance.JEL Classification: G32, L21
ADOPTION OF ISLAMIC BANKING IN FINANCIAL SATISFACTION : STUDY ON BANK SYARIAH INDONESIA YOGYAKARTA REGION Heru Kristanto HC
Jurnal Riset Akuntansi Dan Bisnis Airlangga Vol 7 No 2 (2022): Jurnal Riset Akuntansi dan Bisnis Airlangga
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jraba.v7i2.37205

Abstract

The main purpose of this study was to examine the effect of Islamic financial literacy, religiosity, bankreputation, and risk attitude on the adoption of Islamic banking. Examine the mediating role of the adoption ofIslamic banking on the influence of Islamic financial literacy, religiosity, bank reputation, and risk attitude onfinancial satisfaction. The statistical analysis model used mediation regression. The research population was1.033.264 and the sample was 336 Bank Syariah Indonesia customers in the Jogjakarta region. The samplingtechnique used was random sampling, a data collection method using a questionnaire. The mediationregression analysis tool uses SEM-PLS. The results show that: Islamic financial literacy has a positive effecton the adoption of Islamic banking products. Bank reputation has a positive effect on the adoption of Islamicbanking. Religiosity has a positive effect adoption of Islamic banking. The risk attitude affects the adoption ofIslamic banking. Adoption of Islamic banking mediates the effect of Islamic financial literacy, bankreputation, religiosity, and risk attitude on financial satisfaction. The results of the study add to the literatureand the results of empirical studies of Islamic financial management. Provide recommendations for IslamicBank policies, namely: policies to increase Islamic financial literacy, bank reputation, risk attitude, adoption ofIslamic banking, and financial satisfaction to improve the welfare and performance of the bank.
Co-Authors Mamduh M Hanafi Mamduh M. Hanafi Setiyono, Bowo