Garuda - Garba Rujukan Digital

PERANAN KEPEMILIKAN INSTITUSIONAL TERHADAP NILAI PERUSAHAAN DALAM TINJAUAN HUBUNGAN NON-LINEAR Kasus Perusahaan yang Terdaftar di Bursa Efek Indonesia Pakaryaningsih, Elok
Benefit Volume 12 No 2 Desember 2008
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar

This research examines the effect of institutional ownership on firm value. In doingso, institutional ownership will be divided into two groups; passive owner and active owner.The active owner who holds more than 5 percent of stock is hypothesized to have positiverelationship with firm value. However, this positive relationship will decline considerably asthe percentage of ownership increases. The other variables, namely; passive institutionalownership, public ownership, and firm size will be used as well to examine the consistentrelationship between institutional ownership and firm value. Rather than examining itlinearly, this research intends to examine the non-linear effect of institutional ownership onfirm value. The samples are drawn from all firms listed at the Jakarta Stock Exchange from2002 to 2005. Using the non-linear regression analysis, the results show the existence of nonlinearrelationshipÂ between activeÂ institutionalÂ owner andfirm valueÂ in Indonesia.

PERANAN KEPEMILIKAN INSTITUSIONAL TERHADAP NILAI PERUSAHAAN DALAM TINJAUAN HUBUNGAN NON-LINEAR Kasus Perusahaan yang Terdaftar di Bursa Efek Indonesia Pakaryaningsih, Elok
Benefit: Jurnal Manajemen dan Bisnis Benefit : Kumpulan Makalah Diskusi Dosen FE UMS Volume 12 No 2 Desember 2008
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/benefit.v12i2.1288

This research examines the effect of institutional ownership on firm value. In doingso, institutional ownership will be divided into two groups; passive owner and active owner.The active owner who holds more than 5 percent of stock is hypothesized to have positiverelationship with firm value. However, this positive relationship will decline considerably asthe percentage of ownership increases. The other variables, namely; passive institutionalownership, public ownership, and firm size will be used as well to examine the consistentrelationship between institutional ownership and firm value. Rather than examining itlinearly, this research intends to examine the non-linear effect of institutional ownership onfirm value. The samples are drawn from all firms listed at the Jakarta Stock Exchange from2002 to 2005. Using the non-linear regression analysis, the results show the existence of nonlinearrelationshipÂ between activeÂ institutionalÂ owner andfirm valueÂ in Indonesia.

SMALL, MEDIUM, MICRO ENTERPRISES, AND FINANCIAL GROWTH CYCLE Elok Pakaryaningsih
Journal of Economics, Business, & Accountancy Ventura Vol 14, No 3 (2011): December 2011
Publisher : STIE Perbanas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v14i3.51

Research on small, medium, and micro-sized enterprises (SMMEs) is considered interesting.This study attempts to examine the existence of external financing on micro, small and mediumenterprises in Jogjakarta, especially to support the existence of The Financial GrowthCycle Model proposed by Bergel and Udell (1998). This model argues that, as the enterprisesgetting mature in terms of age, size and published information, the external financings aregradually employed. Besides that, this study also examines the policy implication regardingthe existence of Financial Growth Cycle Model. Using multinomial logistics regression, 100of micro, small, and medium sized-enterprises in Jogjakarta are analyzed. The result showsthat micro, small and medium-sized enterprises in Jogjakarta have a high tendency to useinternal financings rather than external ones. This evidence is due to the major characteristicsof the sample, which they are considered under developed or immature. Moreover, theresults suggest that the Financial Growth Cycle Model is supported. The result also suggeststhat microfinance institution should follow three strategies to provide source of capital.Those strategies are market segmentation, loan portfolio, and assisting program for SMMEs.

Pengaruh Corporate Governance terhadap Keputusan Investasi Maria Gorethi Berek; Elok Pakaryaningsih
Jurnal Riset Manajemen dan Bisnis Vol 4, No 1 (2009): Jurnal Riset Manjemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrmb.2009.41.209

The objective of this research is to examine the effect of corporate governance mechanism on investment decision. Using two ways of measurement, namely, board size and institutional ownership, corporate governance is hypothesized to have an effect oninvestment decision in which measured by asset growth, equity growth and debt growth.Using real estate industry listed at Jakarta Stock Exchange as the sample, the result shows that both institutional ownership and board size do not affect investment decision.Keywords: Corporate governance, investment decision, institutional ownership, board size

Struktur Kepemilikan, Karakteristik Dewan dan Biaya Keagenan: Analisis Hubungan Simultan Evlin Handayani; Elok Pakaryaningsih
Jurnal Riset Manajemen dan Bisnis Vol 3, No 1 (2008): Jurnal Riset Manjemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrmb.2008.31.199

The obiective of this research is to examine the interdependent relationship between agency cost and board characteristics.. ising two ways i measurement, namely, ratios of OPEX and ATO, agency cost is hypothesized to have a simultaneous relationship with board characteristics miasured by board size and the proportion of outside directors. Farthermore, the variabieof corporate ownership measured by managerial ownership and blockholder ownership is used to examine its ffict on both agency cost and board characteristics. (Ising manufacturing industry listed at Jakarta Stock Exchange as the sample, the result shows the interdependent relationship issupported as well as the effect of corporate ownership on agency cost and board characteristics. Moreover the result also shows that agency cost measured by OPEX, robustly explain the interdependent relationship compare to ATO.Keywords: Corporate ownership, agency cost, board characteristics

Pengaruh Agency Problem dan Inside Shareholdersterhadap Diversifikasi Suwarni Suwarni; Elok Pakaryaningsih
Jurnal Riset Manajemen dan Bisnis Vol 2, No 2 (2007): Jurnal Riset Manjemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrmb.2007.22.196

This research qamines the effect of agenqt problem and inside shareholder on company's diversification poliqt. It is also intent to etcamine the effect of diversification on firm value and the ffict of inside shareholder on agency problern. The inside shareholder will be divided into two categories which are:managerial owhership and stock held by the company subsidiaries. The Herfindahl Index will be used to measure the lertel of diuersiJication, whilst the agency problem will be measured using the ratio of selling and general administrative cost. Moreover, the existence of compalry eJccess value derivefro* the company's diversification will be used to identify the firm value. Using the purposive random sampling method, the total sample drawn fro*.The Jakarta Stock Exchange fro* 2002 to 2005 are 160 companies with the accdption for companies within the financial sectors. Using multiple linear regression, the result shows positive and significant effect of agency problem on company's diversification policy. On the contrary, the result fail to demonstrate the ffict of diversification on firm value as well as the effect of inside shareholders on both agenq) problem and diversification. These findings suggest that the existence of agenqt problem is very subtle in Indonesia and the existence of inside shareholder is not intended to reduce theagency problemKeywords : Agency Pr ob I em, Ins ide Sharehol der, Div ers iJic ation

Analisis Dampak Kurs Mata Uang Inflasi dan Pertumbuhan Ekonomi terhadap Return Saham: Studi pada Ferusahaan Multinasional di Bursa Efek Jakarta Chalasina Violend Tiven; Elok Pakaryaningsih
Jurnal Riset Manajemen dan Bisnis Vol 1, No 2 (2006): Jurnal Riset Manjemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrmb.2006.12.191

The main objective of this study is to provide empirical evidence of the effect of macro economic factors on stock return. Moreover, this study is focused on multinational corporations due to their specific characteristics which are constantly reluctant to macro economic fuctors, especially foreign currency changes. This reluctantly, therefore triggered stock price changes.The sample is taken using non-probability random sampling in year 2000-2044 and resulted on 3 5 companies which are consistent with sample criteria. Subsequently, the data were analyzed using pooled least squares regression.The independent variables for the model are inflation, gross domestic product and currency exchange rates, whilst the dependent variqble for the model is daily abnormal returns which ore occumulated during a year (CAR). The resultof this study shows positive ffict of inflation on stock returns and negative effect of domestic product on stock returns. On the contrary, exchange rates failed to demonstrate its effect on stock returns.Key words: inflation, gross domestic product, exchange rotes and stock returns

Pengaruh Board System dan Board Composition terhadap Kinerja Perusahaan: Tinjauan terhadap Konsep Agency Theory dan Stewardship Theory dalam Corporate Governonce Elok Pakaryaningsih; Yohan Sigit Wibowo
Jurnal Riset Manajemen dan Bisnis Vol 1, No 1 (2006): Jurnal Riset Manjemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

This research examines the effect of internal control mechanism of corporate governance that is board system and board composition on firm performonce. To be specific this research will be qualitatively analized to grasp the application of corporate governance tlteories, which are; agency and stewardship theory that underlie the implementation of corporate governance practices in Indonesian companies. The 198 samples are gathered from Indonesian companies listed in the Jakarta Stock Exchange during 1996 until 2003.Using the multiple linear regression method, board system that is represented by the level of blockholder shows it signtficant effect on firm performance. Wrhile the board size which stand for board composition also shows the similar effect. Furthermore the result of the analysis failed to notice which one of corporate governance theories that underlies the effectiveness of corporate governance practices on firm pedormance in Indonesia.Keywords: board system, board composition, board size, blockholder,pedormance

SMALL, MEDIUM, MICRO ENTERPRISES, AND FINANCIAL GROWTH CYCLE Pakaryaningsih, Elok
Journal of Economics, Business, and Accountancy Ventura Vol. 14 No. 3 (2011): December 2011
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v14i3.51

Research on small, medium, and micro-sized enterprises (SMMEs) is considered interesting.This study attempts to examine the existence of external financing on micro, small and mediumenterprises in Jogjakarta, especially to support the existence of The Financial GrowthCycle Model proposed by Bergel and Udell (1998). This model argues that, as the enterprisesgetting mature in terms of age, size and published information, the external financings aregradually employed. Besides that, this study also examines the policy implication regardingthe existence of Financial Growth Cycle Model. Using multinomial logistics regression, 100of micro, small, and medium sized-enterprises in Jogjakarta are analyzed. The result showsthat micro, small and medium-sized enterprises in Jogjakarta have a high tendency to useinternal financings rather than external ones. This evidence is due to the major characteristicsof the sample, which they are considered under developed or immature. Moreover, theresults suggest that the Financial Growth Cycle Model is supported. The result also suggeststhat microfinance institution should follow three strategies to provide source of capital.Those strategies are market segmentation, loan portfolio, and assisting program for SMMEs.

Dampak Non-Linear Aktivitas Off-balance sheet (OBS) terhadap Risiko Perbankan Silalahi, Pristanto; Pakaryaningsih, Elok
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 3 (2025): September
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i3.7348

Banks face many restrictions on interest-based income under various regulatory requirements. These conditions provide banks with space to seek alternative income through fee-based activities and are considered to increase banking profitability. The main problem is moral hazard: OBS activities become excessive. This study tested the effect and modelled the non-linear relationship between off-balance sheet banking activity and bank risk using data on large and small banks in Indonesia. Its result confirms that there is a non-linear relationship between OBS and risk. The main implication is that not all OBS activities affect bank risk. What is interesting in our findings is the direction of OBS's influence on bank risk, which has so far been viewed from two perspectives and two conditions: positive and negative. The results also show that each OBS instrument can, of course, have both positive and negative effects on bank risk (concave and convex), depending very much on the bank's size. Finally, it indicates that small-capitalization banks are more sensitive to bank risk than large-capitalization banks.

Title

Found 10 Documents
Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title Search

Found 10 Documents Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title

Found 10 Documents
Search