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INTERACTIONS AMONG INSIDER OWNERSHIP, DIVIDEND POLICY, DEBT POLICY, INVESTMENT DECISION, AND BUSINESS RISK F., Indri Erkaningrum
Journal of Indonesian Economy and Business Vol 28, No 1 (2013): January
Publisher : Journal of Indonesian Economy and Business

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The study of interaction among insider ownership, dividend policy, debt policy, investmentÂ decision, and business risk is still conducted. This research aims at investigating theinfluencing factors of insider ownership, dividend policy, debt policy, investment decision,Â business risk, and the interaction among insider ownership, dividend policy, debt policy,Â investment decision, and business risk. The samples of the research are 137 manufacturingÂ companies listed in the Indonesia Stock Exchange from the year 2006 to 2010. The threeÂ stages least square simultaneous equation model is used to analyze the interaction amongÂ insider ownership, dividend policy, debt policy, investment decision, and business risk. TheÂ analysis result of insider ownership equation shows that investment, business risk, and sizehave negative influence on insider ownership. Insider ownership, debt and business riskÂ give negative impact to dividend that is shown on equation of dividend. Negative impact ofÂ dividend, business risk, and profitability to debt is shown on equation of debt. The analysisÂ result of investment equation shows that insider ownership and business risk have negativeÂ influence on investment, whereas profitability and sales growth have positive influence onÂ investment. The analysis result of business risk equation shows that insider ownership,Â dividend, investment, and size have negative influence on business risk, whereas variabilityÂ of earnings has positive influence on business risk. The analysis result of the interactionÂ among insider ownership, dividend policy, debt policy, investment decision, and businessÂ risk shows that: 1) there are reciprocal interactions among insider ownership, investment,Â and business risk; 2) there are reciprocal interactions between dividend and debt; 3) thereÂ are reciprocal interactions between dividend and business risk; 4) insider ownership influencesÂ dividend; 5) business risk influences debt. The empirical evidence of interactionÂ among insider ownership, dividend policy, debt policy, investment decision, and businessÂ risk helps the companies to make financial policy minimize agency problem.Keywords: insider ownership, dividend, debt, investment, business risk.

STUDI KETERKAITAN ANTARA DIVIDEND PAYOUT RATIO, FINANCIAL LEVERAGE DAN INVESTASI DALAM PENGUJIAN HIPOTESIS PECKING ORDER. Wibowo, A. Jatmiko; Erkaningrum, F. Indri
Journal of Indonesian Economy and Business Vol 17, No 4 (2002): October
Publisher : Journal of Indonesian Economy and Business

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This study is aimed to examine the prediction of pecking order hypothesis in Indonesian. The hypothesis states that there is negative relationship between dividend payout ratio and investment. In addition, this study will learn the relationship between dividend payout ratio, financial leverage and investment. The dividend payout ratio determinants are financial leverage, investment, liquidity, profitability, size and variability of earnings. The financial leverage determinants are dividend payout ratio, investment, profitability, size, assets structure and variability of earnings. The determinants of investment are dividend payout ratio, financial leverage, sales growth, profitability, Q ratio and size.The data of this study is collected from 70 manufacturing companies as listed in the Jakarta Stock Exchange for the period of 1991 â 2000. The three stage least square simultaneous equation model is used to learn the relationship between dividend payout ratio, financial leverage and investment.In this study, it is found that there is no significant evidence that manufacturing companies in Indonesia tend to follow the pecking order hypothesis. In addition, it is found that the financial leverage gives a negative and significant influence on dividend payout ratio and vice versa; investment do not give a significant influence on dividend payout ration and vice versa; investment gives a positive and significant influence on financial leverage; and financial leverage do not give a significant influence on investment.Keywords: pecking order, dividend payout ratio, financial leverage, investment

MANAJEMEN TALENTA: PETA JALAN MEMBIDIK SUMBER DAYA MANUSIA BERKUALITAS Erkaningrum F., Indri
VOCATIO : Jurnal Ilmiah Ilmu Administrasi dan Sekretari Vol 1, No 1 (2017)
Publisher : Akademi Sekretari Widya Mandala

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The existence of talented and qualified human resources in strategic positions becomes the company’s life blood. The imbalance of the availability and needs of talented and qualified human resources triggers unethical actions in hunting human resources. This condition unconsciously leads the company into war for talent situation and not in war with talent situation. Talent management is designed to attract, develop, and maintain talented and superior quality human resources in the company’s strategic position. The company’s capability in executing the roadmap of talent management can create sustained competitive advantage. It can be built by harmonizing the human resources and the company’s strategy. Brand for talent is built to appeal to talented human resources and makes them famous as the company’s brand.

INTERDEPENDENSI ANTARA INSIDER OWNERSHIP, KEPUTUSAN INVESTASI, DAN RISIKO BISNIS Indri Erkaningrum Florentina
Jurnal Keuangan dan Perbankan Vol 17, No 1 (2013): January 2013
Publisher : University of Merdeka Malang

Asymmetric information and agency issues made stockholders need to control business activities throughoptimalization insider ownership and investment decision. Optimalization of insider ownership and investmentdecision were expected to make business risk controlled. This research aimed at verifying empirically theinfluencing factors of insider ownership, investment decision, business risk, and finding the interdependencyamong insider ownership, investment decision, and business risk. The samples of this research were 90 realestate and property companies listed at Indonesia Stock Exchange from the year of 2006 to 2010. Simultaneousequation model of three stage least squares (3 SLS) was applied to analyze the interdependency among insiderownership, investment decision, and business risk. The analysis result of interdependency among insiderownership, investment decision, and business risk showed that: there was interdependency between insiderownership and investment; there was interdependency between insider ownership and business risk; investmentinfluenced business risk. The empirical evidence of interdependency among insider ownership, investmentdecision, and business risk helped the companies make financial policies.

INTERACTIONS AMONG INSIDER OWNERSHIP, DIVIDEND POLICY, DEBT POLICY, INVESTMENT DECISION, AND BUSINESS RISK Indri Erkaningrum F.
Journal of Indonesian Economy and Business (JIEB) Vol 28, No 1 (2013): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

The study of interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk is still conducted. This research aims at investigating the influencing factors of insider ownership, dividend policy, debt policy, investment decision, business risk, and the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk. The samples of the research are 137 manufacturing companies listed in the Indonesia Stock Exchange from the year 2006 to 2010. The three stages least square simultaneous equation model is used to analyze the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk. The analysis result of insider ownership equation shows that investment, business risk, and size have negative influence on insider ownership. Insider ownership, debt and business risk give negative impact to dividend that is shown on equation of dividend. Negative impact of dividend, business risk, and profitability to debt is shown on equation of debt. The analysis result of investment equation shows that insider ownership and business risk have negative influence on investment, whereas profitability and sales growth have positive influence on investment. The analysis result of business risk equation shows that insider ownership, dividend, investment, and size have negative influence on business risk, whereas variability of earnings has positive influence on business risk. The analysis result of the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk shows that: 1) there are reciprocal interactions among insider ownership, investment, and business risk; 2) there are reciprocal interactions between dividend and debt; 3) there are reciprocal interactions between dividend and business risk; 4) insider ownership influences dividend; 5) business risk influences debt. The empirical evidence of interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk helps the companies to make financial policy minimize agency problem.

STUDI KETERKAITAN ANTARA DIVIDEND PAYOUT RATIO, FINANCIAL LEVERAGE DAN INVESTASI DALAM PENGUJIAN HIPOTESIS PECKING ORDER. A. Jatmiko Wibowo; F. Indri Erkaningrum
Journal of Indonesian Economy and Business (JIEB) Vol 17, No 4 (2002): October
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study is aimed to examine the prediction of pecking order hypothesis in Indonesian. The hypothesis states that there is negative relationship between dividend payout ratio and investment. In addition, this study will learn the relationship between dividend payout ratio, financial leverage and investment. The dividend payout ratio determinants are financial leverage, investment, liquidity, profitability, size and variability of earnings. The financial leverage determinants are dividend payout ratio, investment, profitability, size, assets structure and variability of earnings. The determinants of investment are dividend payout ratio, financial leverage, sales growth, profitability, Q ratio and size.The data of this study is collected from 70 manufacturing companies as listed in the Jakarta Stock Exchange for the period of 1991 – 2000. The three stage least square simultaneous equation model is used to learn the relationship between dividend payout ratio, financial leverage and investment.In this study, it is found that there is no significant evidence that manufacturing companies in Indonesia tend to follow the pecking order hypothesis. In addition, it is found that the financial leverage gives a negative and significant influence on dividend payout ratio and vice versa; investment do not give a significant influence on dividend payout ration and vice versa; investment gives a positive and significant influence on financial leverage; and financial leverage do not give a significant influence on investment.Keywords: pecking order, dividend payout ratio, financial leverage, investment

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