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All Journal JURNAL BISNIS STRATEGI Jurnal Studi Manajemen Organisasi Diponegoro Journal of Management JEJAK DIJB (Diponegoro International Journal of Business) Jurnal Pasar Modal dan Bisnis
Erman Denny Arfianto
Faculty Of Economic And Business, Diponegoro University,
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

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LOSS GIVEN DEFAULT (LGD) KREDIT PEMILIKAN RUMAH (KPR) DI INDONESIA: ANALISIS MODEL INDUSTRI PERBANKAN DAN BANK BTN CABANG PURWOKERTO TAHUN 2002-2013 Dian Pertiwi, Aisyah Oktasari; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 3, Nomor 3, Tahun 2014
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Property industry drives economic activity by having a multiplier effect. On one hand the industry is pushing of economic activities in other sectors are related. On the other hand, excessive of property development industry can also have a negative impact for economy in case of oversupply and bubble pricing. Therefore in the lending activities bank must take security elements to minimize credit risk, such as Loss Given Default (LGD) or Severity of Loss.This research will analyze the factors that influence Loss Given Default (LGD) of loans mortgages in Indonesia during 2002-2013 using two models of research. LGD 1 models for Indonesian State Banks and LGD 2 models for sampled on BTN Bank Branch of Purwokerto.The results of this study indicate that there is no LGD on mortgages loans in both of the Indonesian state banks models or BTN Bank Branch of Purwokerto models. The property industry in Indonesia is unique among other countries as it offers a high return low risk investments. Property prices in Indonesia still stables despite high inflation and rising on interest rates. Based on the analysis, the Indonesian State Banks’s LGD influenced by House Price, Loan Amount, Growth BI Rate, and Growth GDP not significant. While at BTN Bank Branch of Purwokerto shows results that LTV, Unpaid Day, and Prime Lending Rate to be factors that influence the LGD.
ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI LIQUIDITY CREATION PERBAN K A N INDONESIA (Studi Kasus pada 10 Bank Terbesar di Indonesia pada Periode 2007 sampai dengan 2012) Hestiyani, Medikatama; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 2, Nomor 2, Tahun 2013
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Banking sector is the major financial institutions in economy. The main task of the bank is as intermediary, the intermediary function is an activity that raise funds from the public that haveexcess funds in the form of savings and distribute it to other people who needs it in the form called loans. This intermediation process create liquidity creation. This research is aimed to examin somefactor like Reserve Requirement (RR), bank capital ratio, bank risk (earning volatility, credit risk, distance to default), and bank size in influencing liquidity creation.The samples in this study are ten largest Indonesian banks in 2012. The sampling methodused is purposive sampling. The data  used in this study is banks annual report from year 2007 until 2012. Data analysis method used is multiple linear regression. Hypothesis testing is done using t test and F test.The studies found that Reserve Requirement (RR), bank capital ratio, andearning volatility has negative effect on liquidity creation. While credi reisk, distance to default, and bank size haspositive effect on liquidity creation. The result of the regression show the predictive ability of six independent variables on liquidity creation is 38,9%, while the remaining 61,1% is influenced byother factors outside the model of this study
ANALISIS PENGARUH TOTAL QULITY MANAGEMENT DAN KUALITAS PELAYANAN TERHADAP KEPUASAN PELANGGAN DENGAN KINERJA KARYAWAN SEBAGAI VARIABEL INTERVENING (Studi Empiris pada Puskesmas Ungaran di Kecamatan Ungaran Barat) Kartiko Aji, Hapsoro; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 7, Nomor 4, Tahun 2018
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

               This research is based on previous inconsistent research about Total Quality Management and Quality of service to customer satisfaction directly or indirectly that cause research gap (research gap). This study aims to test the Total Quality Management and service quality to customer satisfaction by including new variables as moderation of performance.               This research was conducted in one of public functional unit of public sector ie Ungaran Health Center. Data collection method used is with the distribution of questionnaires to patients Puskesmas Ungaran as many as 111 respondents. The method of analysis yag used is the method of multiple regression analysis. The result of this research yield 2 regression equation as follows: Y1 = 0,293 X1 + 0,562 X2 and Y2 = 0,440 Y1 – 0,075 X1 + 0,534 X2.            Based on the analysis of statistical data, the indicators in this study successfully passed in the validity and reliability test so that the data can be said to be valid and reliable. In the classical assumption test and multiple regression in the first and second equations show the normal distribution and not affected by heteroskedatisitas. In the Sobel test also found that intervening variable successfully moderate the independent variable to the dependent variable. The results showed that all independent variables have positive and significant influence on the intervening variable and dependent variable directly except there is 1 independent variable that is TQM which negatively and insignificant to customer satisfaction directly.
ANALISIS PENGARUH STOCK SELECTION SKILL, MARKET TIMING ABILITY, FUND LONGEVITY, FUND CASH FLOW DAN FUND SIZE TERHADAP KINERJA REKSADANA (Studi Kasus: Reksadana Saham Periode 2010-2014) Syahid, Nur; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 4, Nomor 4, Tahun 2015
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Investment growth of mutual funds in Indonesia has increased rapidly due to the mutual fund that able to overcome the investor problems in making investment. The problems associated with time, information, and the ability to invest. Mutual funds are managed by an investment manager that can manage the fund in accordance with its investment objectives.This study conducted to examine the relationship between the performance of mutual fund shares with five variables that affect it includes stock selection skills, market timing ability, longevity fund, fund cash flow and fund size. The data used in this study are SBI, JCI, TNA annually, NAB monthly, and age with 59 sample of mutual funds of stocks for 2010-2014 period and the number of observations as many as 188 data.This research using the method of multiple linear regression with the classical assumption using normality test, heteroscedasticity test, multicollinearity test, autocorrelation test. The method used to test the hypothesis is the F test and T test shows that partially market timing ability have significant positive impact to performance of mutual funds. Stock selection skill have significant negative impact to performance, but Fund Longevity and Fund Size have no significant negative impact to performance of mutual funds. Then cash have no significant positive impact to performance of mutual funds. Based on the test results show the value of the coefficient of determination adjusted R square of 0.633, so that the variables in this study may explain the variable performance of mutual funds amounted to 63.3%.
ANALISIS PENGARUH BOOK TO MARKET, SIZE, SYSTEMATIC RISK, DAN MOMENTUM TERHADAP RETURN SAHAM SMALL BUT LIQUID DAN BIG BUT ILLIQUID (Studi pada Perusahaan yang terdaftar di Kompas100 Tahun 2011-2015) Ulfah, Firda Huwaida; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 6, Nomor 2, Tahun 2017
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

The research developed the factors that affect in stock returns. One of the "missing factor" that developed  the stocks that have small capitalization value with high frequency. This type of behavior has not expected oftenly. The purpose of this study is to analyze the influence of book to market, size, systematic risk,and momentum on stock returns in small but liquid and big but illiquid studies on companies KOMPAS100 2011-2015.The population in this study is a company with small but liquid stock category and big but illiquid stock category sorted by method purposive sampling to obtain these categories which has a number of 100 samples, of which 50 categories of samples small but liquid and 50 samples withcategory bigbut illiquid which annually features 10 different samples in accordance with these criteria.Research results in the category of small but liquid, book to market a significant negative effect on returns, stock size negative and not significant to return, stock systematic risk positive effect and no significant effect on returns, stock  and the momentum positive and significant impact on returns. stock  While the research results in the category of big but illiquid, book to market negative and not significant to return, stock size has a positive effect and no significant effect on returns, stock systematic risk significant negative effect on returns, stock  and the momentum positive and significant impact on returns stockDifferent test showed that the difference in returns small but liquid and big but illiquid evaluation in the first year after the establishment has a significance value of 0.008 and the value of T count greater than T table as worth 2.02269 is 2,790, which means there are significant differences. While evaluating the second and third years after the establishment did not have a significant difference in the presence of evidence that the evaluation of the second year of significant value amounted to 0,544 and evaluations in the third year has a significance value of 0.626 which means the absence of a significant difference
PROFITABILITY, COLLATERAL VALUE, FINANCING APPLICATION VALUE, LEVERAGE, NET WORKING CAPITAL AND CHARACTER ON DETERMINING THE CUSTOMERS FOR FINANCING IN ISLAMIC BANKS CATEGORIZED BY ETHNIC CHINESE, INDIGENOUS PEOPLE, MUSLIM AND NON-MUSLIM Jayendati, Rabita Asri; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 7, Nomor 4, Tahun 2018
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

This study was involved by the NPF of islamic banks almost close to the threshold, 5%. One of aspects of the indication of increasing the NPF is the account officer of islamic banks innacuary to lending the financing to the customers that effected to bad credit. The aim of this study was to see the influence of profitability, collateral value, credit submission value, leverage, net working capital and character on determining the financing customers in islamic banks catogorized by ethnic chinese, indigenous people, muslim and non-muslim. The object of research used in this study is the account officer of Sharia Commercial Banks and Sharia Financing Banks in the City of Semarang as many as 52 account officers divided into 10 banks. The analytical method used is conjoint analysis to determine the influence and value of interest preferences from each account of a Sharia Commercial Banks and Sharia Financing Banks officer in the City of Semarang. Based on the results of the study for conjoint analysis shows that the value of interest preferences according to the overall respondents, the characters are in the first place wit\h importance values of 36.877%, leverage is second at 14.813%, the value of collateral in the third place at 12.461%, net working capital in the fourth place at 12.443%, the value of credit submission was fifth at 12.337% and the last was profitability which amounted to 11.069%.
FAKTOR-FAKTOR YANG MEMPENGARUHI PERILAKU CASH HOLDINGS PADA PERUSAHAAN BESAR DAN PERUSAHAAN KECIL Syafrizaliadhi, Adhitya Dasha; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 3, Nomor 3, Tahun 2014
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Cash is the most liquid assets company that serves as a blood company in the moving operating routine. Failure of firms in the face financial distress has focused attention on the importance of cash holdings. The purposes on this study was to identify relationship between cash holdings and leverage, diversified firms, dividend payment, investment opportunities, bank involvement and size, as well as the behavior cash holdings on big firms and small firms in the manufacturing industry.            This study uses secondary data with data derived from sources IDX and listed company on the Indonesia Stock Exchange during 2 years study period in the 2011 and 2012. Sampling used purposive sampling method with the provisions of the company’s financial reports published during the study period. This study uses two models with the data analysis using the classical assumption, multiple linier regression analysis, t test, F test, the coefficient of determination and Chow Test to distinguish the behavior on a sample of big firms and small firms.            The result showed that the sample of manufacturing firms found negative relationship between cash holdings and leverage. The positive relationship between cash holdings and diversified firms, investment opportunities, bank involvement, and size, but no relationship between capital expenditure, dividend payment and cash holdings. Finally, there is no differences in the behavior of cash holdings between big firms and small firms.
ANALISIS PENGARUH SIZE, PROFITABILITY, CAPITAL ADEQUACY, DAN NON-PERFORMING LOAN TERHADAP LIKUIDITAS BANK UMUM YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011-2014 Bramantya, Bintang; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 4, Nomor 3, Tahun 2015
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Banks play an important role in economic activity of a country. Bank is a financial institution trusted by the community to manage the funds. Banks are required to always be able to maintain the level of liquidity and profitability.This study aims to analyze the effect of size, profitability, capital adequacy, and Non-Performing Loan on bank liquidity. The sample used in this study are commercial banks listed in Indonesia Stock Exchange during the years 2011 through 2014. The sampling technique used in this research is purposive sampling method covering 27 banks as samples. The analysis method used in this study is Normality Test, Autocorrelation Test, Multicolliniarity Test, Heteroscedasticity Test, Coefficient of Determination Test, F Statistic Test, t Statistic Test, and Multiple Linear Regression Analysis.Based on the results of the partial testing carried out, size and profitability have positive effect on liquidity. Meanwhile, capital adequacy and Non-Performing Loan have negative effect on liquidity. Based on the test results of Coefficient of Determination  Test, the variable size, profitability, capital adequacy and Non-Performing Loan has an effect on the liquidity of 22,50%.
PENGARUH AMBIGUITY, MARKET RISK PREMIUM, MARKET TO BOOK, SIZE, DAN MOMENTUM TERHADAP RETURN SAHAM PADA PERUSAHAAN YANG TERDAFTAR DALAM INDEKS LQ45 PERIODE 2017-2018 Rizqiyana, Amaliya; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 8, Nomor 4, Tahun 2019
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

The main purpose of investing in the capital market is to obtain a return. To achieve maximum return, it is necessary to know the factors that can influence stock returns. Therefore, this study aimed to determine the effect of ambiguity, market risk premium, market to book, size, and momentum on stock returns.The sample used in this study was company data that listed on the Indonesia Stock Exchange LQ45 index during the period 2017-2018. The method of determining sample was using a purposive sampling method and obtained 34 companies listed in LQ45. The method of hypothesis testing using different test t-test and multiple linear regression analysis.The results of this study indicate that size and momentum have a positive and significant effect on stock returns. Ambiguity has a positive and not significant effect on stock returns. Also market risk premium and market to book have a negative and not significant effect on stock returns.
PENGARUH GROWTH OPPORTUNITY, FIRM SIZE, PROFITABILITAS, LIQUIDITY, DAN FIRM QUALITY TERHADAP DEBT MATURITY STRUCTURE (Studi Pada Perusahaan Manufaktur Di BEI Tahun 2013-2018)ENGARUH GROWTH OPPORTUNITY, FIRM SIZE, PROFITABILITAS, LIQUIDITY, DAN FIRM QUALITY TERHADAP DEBT MATURITY STRUCTURE (Studi Pada Perusahaan Manufaktur Di BEI Tahun 2013-2018) Zulfikar, Reno; Arfianto, Erman Denny
Diponegoro Journal of Management Volume 9, Nomer 1, Tahun 2020
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

Capital structure plays an important role in corporate financial management. Debt is an essential part of the capital structure. Once firms use debt, firms need to consider their debt maturity structure. Thus, study analyzed the factors that influence debt maturity structure. Research population used all publicly traded manufacturing companies in Indonesia listed on Indonesia Stock Exchange (IDX) during 2013-2018. The samples observed in total were 108 samples. The analytical method of this study used multiple linear regression.The results showed firm size and liquidity had  positive significant effect on debt maturity structure. Profitability had negative significant effect on debt maturity structure. Meanwhile, growth opportunity and firm quality had positive insignificant effect on debt maturity structure.
Co-Authors Ade Sumartini Adhitya Dasha Syafrizaliadhi, Adhitya Dasha Aisyah Oktasari Dian Pertiwi, Aisyah Oktasari Alda Aspasia, Donna Bella Antin Azizah Ali, Antin Arsya, Riz Zaidan Febriano Asih Primayanti, Asih Axel Giovanni Bintang Bramantya, Bintang Danes Quirira Octavio Dewi, Katri Septiana Diajeng Sarsa Putranto Diani, Amadea Arum Dini Zahra Afiffah, Dini Zahra Ervina Sutanto, Ervina Hannina Adlina, Hannina Hidayat, Dicky Permana I Made Bayu Dirgantara Ivan Irawan Izza Fityani, Izza Januardi, Nana Varian Jayendati, Rabita Asri Kartiko Aji, Hapsoro Kusuma, Carissa Lumbanradja, Ramos Luthfi Hartanto, Luthfi Maharani, Ema Maretha Eka Fitriana, Maretha Eka Medikatama Hestiyani, Medikatama Mirwan Surya Perdhana Mochamad Husin Rahman, Mochamad Husin Mochamad Yusuf Efendi, Mochamad Yusuf Nadia Damayanti Nicolaus Gerry Christiawan Nicolaus Gerry Christiawan Novan Reza Pahlevi, Novan Nur Syahid, Nur Nurita Kusumastuti, Nurita Rajendra Wishnu Tristantyo, Rajendra Wishnu Rifky Prasetyo, Rifky Rifqi, Ammar Rizal Hari Magnadi Rizqiyana, Amaliya Romo Putra Mada, Romo Putra Sembiring, Vijai Steven Adriel Antonia, Steven Tri Endrawati, Melati Wahyu Ulfah, Firda Huwaida Winda Safitri Pramusinta, Winda Safitri Yektiningsih, Novie Zulfikar, Reno