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All Journal Economic Journal of Emerging Markets Jurnal Keuangan dan Perbankan FINANCE : International Journal Of Management Finance
Akhsyim Afandi
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Economics, Econometrics & Finance

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IDENTIFYING BANK LENDING CHANNEL IN INDONESIA: A VECTOR ERROR CORRECTION APPROACH WITH STRUCTURAL BREAK Akhsyim Afandi
Jurnal Keuangan dan Perbankan Vol 13, No 1 (2009): January 2009
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (597.512 KB) | DOI: 10.26905/jkdp.v13i1.924

Abstract

There was a question whether monetary policy works through bank lending channelrequired a monetary-induced change in bank loans originates from the supply side. Mostempirical studies that employed vector autoregressive (VAR) models failed to fulfill thisrequirement. Aiming to offer a solution to this identification problem, this paper developed afive-variable vector error correction (VEC) model of two separate bank credit markets inIndonesia. Departing from previous studies, the model of each market took account of onestructural break endogenously determined by implementing a unit root test. A cointegrationtest that took account of one structural break suggested two cointegrating vectors identifiedas bank lending supply and demand relations. The estimated VEC system for both marketssuggested that bank loans adjusted more strongly in the direction of the supply equation.
Unit Root Test With One Endogenous Structural Break Evidence from Indonesian Time Series Data Akhsyim Afandi
Economic Journal of Emerging Markets Volume 11 Issue 3, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v11i3.522

Abstract

This paper examines the robustness of the ADF (Augmented Dickey-Fuller) unit root test to the presence of one structural break. The ADF test results show one variables out of six to be stationary. To check their robustness, two separate additive outlier (AO) models are employed: one allowing for one endogenously-determined break in the intercept and the other in the trend. These two tests can not reject the unit root null hypothesis for all the vari-ables. However, when an innovational outlier (IO) model, that allows for one endogenously-determined break is estimated, the null hypothesis can be rejected for 3 more series. The estimated break dates mostly correspond to the 1998 financial crisis in Indonesia.Keywords: unit root; stationarity; structural break, additive & innovational outlierJEL classification: C1; C22
An Ardl Approach to Identify Bank Landing Channel in Indonesia Akhsyim Afandi
Economic Journal of Emerging Markets Volume 1 Issue 1, 2009
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v1i1.2284

Abstract

This paper tests whether the bank lending channel works in Indonesia. It develops an errorcorrection representation of the Autoregressive Distributed Lag (ARDL) model of two bankcredit markets. Each model takes account of one structural break associated with the 1998financial crisis. The date of the crisis is determined by a unit root test that includes twostructural breaks. Instead of Johansen’s cointegrating procedure, bounds test procedure isimplemented. The estimated error correction model for both markets suggests that bankloans adjust more strongly towards loan supply, implying that monetary-induced disturbancesin bank loans originate from the supply side.Keywords: bank lending channel, unit root, structural breaks
DOMESTIC AND FORIGN FACTORS FOR STOCK PRICES IN INDONESIA Rahajeng Cahyaning Putri Cipto; Akhsyim Afandi
Economic Journal of Emerging Markets Volume 2 Issue 2, 2010
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v2i2.2302

Abstract

Indonesia has been developing various sectors of its economy, and so it needs a huge amount of capital. Therefore, it has been putting a lot of efforts to develop its capital market. This paper analyzes the impacts of domestic and foreign factors on Indonesia stock price. Some considered domestic factors are interest rates, production index, and foreign exchange rates. Various considered foreign factors are Singapore and US stock prices. The paper uses Vector Error Correction Mechanism model to analyze the data. The estimation results suggest that all variables significantly influence Indonesia stock price, with Singapore stock price as the dominant factors.Keywords: Stock price, interest rates, exchange rates, production indexJEL classification numbers: G12, G15
ANALYSIS OF FINANCIAL ACCOUNTABILITY TOWARDS PERFORMANCE ACCOUNTABILITY THROUGH THE INTERNAL CONTROL SYSTEM AT MANGGARAI REGENCY GOVERNMENT Aloisius Hama; Akhsyim Afandi; Jaka Sriyana; Mersiana Varia Juita
Finance : International Journal of Management Finance Vol. 3 No. 1 (2025): September
Publisher : Publikasi Inspirasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62017/finance.v3i1.103

Abstract

This study aims to examine the extent to which Financial Accountability influences Performance Accountability with the mediating role of the Internal Control System in the Government of Manggarai Regency. The population in this study consisted of 45 employees working within the Manggarai Regency Government. Sampling was conducted using a census method. Thus, the entire population was taken as the sample, consisting of 45 employees who had worked for more than one year. The data obtained was analyzed using the Partial Least Squares (PLS) approach with the assistance of SmartPLS 3.0 software. The analysis results indicate a significant influence of several variables on Performance Accountability. First, Financial Accountability was proven to have a substantial effect on the Internal Control System. Second, the Internal Control System has a significant relationship with Performance Accountability. Third, Financial Accountability also significantly affects Performance Accountability through the mediating role of the Internal Control System in the Manggarai Regency Government.
Co-Authors Aloisius Hama Budi Gunawan Jaka Sriyana Laksono Trisnantoro Mersiana Varia Juita Mukhamad Nurkamid Nita Andriyani Budiman Rahajeng Cahyaning Putri Cipto