Agus Salim
School Of Business And Economics, Universitas Prasetiya Mulya

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Pengaruh Variabel Makroekonomi terhadap Yield Spread Obligasi Pemerintah Republik Indonesia Aurelia S.I. Ongko; Jesslyn Santoso; Kayla Lukman; Virliza I. Rahardjo; Agus Salim
Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan Vol 10, No 2 (2021): Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan
Publisher : Universitas Negeri Padang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24036/ecosains.11564257.00

Abstract

This study examines several macroeconomic factors from April 2016 to March 2021, including the BI Rate, Credit Default Swap, Inflation, and Money Supply (M2). This study uses the Autoregressive Distributed Lag (ARDL) regression method followed by Error Correction Model (ECM) analysis to see the relationship in the short term and Level Equation to determine the long term relationship between independent and dependent variables.. The results of this study finally prove that BI Rate, Credit Default Swap, and Inflation affect the long-term distribution yield spread, while the money supply (M2) does not affect it. Meanwhile, macroeconomic factors that affect the yield spread in the short-term are only the BI Rate variable.
Penggunaan Ordered Response Framework dalam Menentukan Faktor-Faktor Penentu Peringkat Utang Negara-Negara ASEAN+ Agus Salim
Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan Vol 11, No 1 (2022): Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan
Publisher : Universitas Negeri Padang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24036/ecosains.11875157.00

Abstract

By using the Ordered Response Framework, this research studies the factors that determine the rating agencies in rating national debt, especially countries in the Southeast Asian region. The results obtained indicate that the model obtained with the Ordered Response Framework approach is quite good in determining the factors that determine the rating of the sovereign debt and in predicting levels and changes in ratings over time.
The Critical Factors that Influence Dividend Payout Ratio on Pro-Cyclical and Non-Cyclical Sector Companies David Santoso; Helen Adriana Wijaya; Jason Ferdianto Diharjo; Sugiarto Sugiarto; Agus Salim
Journal of Management and Business Review Vol 23, No 1 (2026)
Publisher : Research Center and Case Clearing House PPM School of Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34149/jmbr.v23i1.648

Abstract

Pro‑cyclical and non‑cyclical sectors generate markedly different revenue patterns, a distinction that may influence firms’ willingness to share profits with investors. This study examines whether ownership structure and key financial variables influence dividend policy in Indonesia’s pro-cyclical manufacturing and non-cyclical consumer goods industries. Using a balanced panel of 435 firm-year observations (2015–2019) and fixed-effects panel regression, we examine the impact of family ownership, managerial compensation, leverage, and profitability on the dividend payout ratio. Sector‑specific results emerge. In consumer‑goods companies, higher managerial compensation significantly increases the dividend payout ratio, whereas greater leverage dampens it; family ownership and profitability are insignificant. In manufacturing firms, family ownership increases the dividend payout ratio, while leverage and profitability decrease it; managerial compensation has no significant impact. The findings help income‑oriented investors select suitable sectors, guide regulators in tailoring governance codes, and extend agency and signaling research to contrasting industry characteristics.