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Journal : JAM : Jurnal Aplikasi Manajemen

MANUFACTURING COMPANY BANKRUPTCY PREDICTION IN INDONESIA WITH ALTMAN Z-SCORE MODEL Matturungan, Nur Hasbullah; Purwanto, Budi; Irwanto, Abdul Kohar
Jurnal Aplikasi Manajemen Vol. 15 No. 1 (2017)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (313.44 KB) | DOI: 10.18202/jam23026332.15.1.03

Abstract

Model Altman is one of the models used to predict financial distress. Some of the results of research that conducted in Indonesia showed that Altman model is completely accurate in predicting financial distress but the other found the opposite results. This inconsistency indicates the need to adapt the model by checking whether variables affect Altman model in financial distress companies in Indonesia and the adjustment coefficients Altman to be able to better predict about financial distress. The results showed that the partial test working capital/total assets, retained earnings to total assets, and earning before interest and tax to total assets were able to classify the company's financial distress. However, the model that formed by five variables were able to classify financial distress well with an accuracy of 87.8%.
TECHNICAL EFFICIENCY AND COMPETITION LEVEL OF INDONESIA BANKING IN MICROFINANCE MARKET Pandi, Pandi; Purwanto, Budi; Irwanto, Abdul kohar
Jurnal Aplikasi Manajemen Vol. 16 No. 3 (2018)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (259 KB) | DOI: 10.21776/ub.jam.2018.016.03.12

Abstract

The purpose of this study are to find the relationship between SME credit competitions with the technical efficiency of banking. It involves banking statistics data from commercial banks and rural banks. Panzar-Rosse model was applied to measure a level of competition while the efficiency was determined using Data Envelopment Analysis (DEA). Data panel regression was utilized to analyze the Panzar-Rosse model coefficient while the efficiency score was obtained by using linear programming. The relevance of competition and efficiency was explored using the Granger causality test. Research result shows competition among BPRs inside a perfect competition market has an impact on their technical efficiency. A better competition between BPRs in a perfect competition market impact to lower technical efficiency. BPR competition with commercial banks occurred in a monopolistic market. In the monopolistic market, better technical efficiency would lower the competition. Technical efficiency score when commercial banks entered the competition revealed a climb score.
Analisis Hubungan Corporate Governance, Corporate Social Responsibility, dan Corporate Financial Performance pada Perusahaan Kompas 100 Caesari, Annisa Putri; Irwanto, Abdul Kohar; Syamsun, Muhammad
Jurnal Aplikasi Manajemen Vol. 14 No. 1 (2016)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (382.482 KB) | DOI: 10.18202/jam23026332.14.1.09

Abstract

In accommodating the objectives and obligations, the company may apply a system called Corporate Governance (CG) and Corporate Social Responsibility (CSR). The implementation of CG and CSR are related because CSR is a consequence of the implementation of CG. CG and CSR are also interconnected with Corporate Financial Performance (CFP). Through the implementation of CG, the company can improve CFP. While the relationship between CSR and CFP can be associated positively or negatively. CSR can improve CFP during the company does not over investment in CSR activities. The research was conducted on one hundred companies listed in Kompas100 index to determine the relationship of implementation of CG on the disclosure of CSR, the relationship of implementation of CG to the CFP, the relationship disclosure of CSR to the CFP, and the relationship of implementation of CG to the CFP with CSR as a moderating variable in the sample companies. structural equation modeling (SEM) analysis uses in order to determine the relationship of these three variables. The results show that the implementation of CG which is reflected in board size indicator significantly positive related to the disclosure of CSR activities. However, the implementation of CG significantly negative related to the company's financial performance that is reflected in PER ratio. Moreover, CSR disclosure is significantly negative related to the financial performance. Due to the relationship between CG and CFP and the relationship between CSR and CFP is significantly negative related, implementation of CG is also significantly negative related to the CFP through the disclosure of CSR as a moderating variable.
Dampak Krisis Keuangan Global 2008 terhadap Volatilisas Return Saham Perbankan di BEI Taftazani, Afif M.; Irwanto, Abdul Kohar; Cahyadi, Eko Rudy
Jurnal Aplikasi Manajemen Vol. 13 No. 1 (2015)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/

Abstract

The study aims to analyze and create the model of stock returns movement in a banking company in IDX and make test for asymmetric effects in stock returns volatility due to the global financial crisis in 2008. Volatility is generally characterized by the rise and fall of a value at specified intervals with high deviation. As a result, the volatility causes an unstable condition, varied and hard to predict. Moreover, High volatility impacts an inconstant of variance and error, causing heterocedastity effects. The existence of an extraordinary event that causes a shock can influence volatility affecting an asymmetric of variance and error, commonly called asymmetric shock/effect. This shock is due to the global financial crisis of 2008. This research is an event study, where the event being analyzed as the impact of the global crisis of 2008. The Study in which relate to the effect of a crisis on stock return volatility in Indonesia is still rare. It is expected to help of the research and provide feedback to another researchers in order to study and develop the studies with similar themes, especially concerning to the impact/influence of the crisis or the influence of others. For investors, it can be used as a consideration of the investment decision making more accurate. The data that has been analyzed are daily stock price period August 8, 2006 to 29 August 2014 at five banking companies: BMRI, BBNI. BBKP, BII and BLNI.