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All Journal Economic Journal of Emerging Markets Jurnal Keuangan dan Perbankan JDM (Jurnal Dinamika Manajemen) Journal of Economics, Business, & Accountancy Ventura Asia-Pacific Management and Business Application International Research Journal of Business Studies (E-Journal) EQIEN - JURNAL EKONOMI DAN BISNIS Journal of Humanities and Social Studies Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Quantitative Economics and Management Studies Devotion: Journal of Research and Community Service Interdisciplinary Social Studies Indonesian Capital Market Review Eduvest - Journal of Universal Studies International Research Journal of Business Studies
Rofikoh Rokhim
Department of Management, Faculty of Economics and Business, Universitas Indonesia
Aerospace Engineering Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Languange, Linguistic, Communication & Media Mathematics Neuroscience Public Health Social Sciences

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Does foreign board increase the company’s performance? the evidence from Indonesia Joenoes, Muhammad Zhafran; Rokhim, Rofikoh
Journal of Economics, Business, and Accountancy Ventura Vol. 22 No. 2 (2019): August - November 2019
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v22i2.1449

Abstract

This study examined the effect of foreign board members in promoting corporate governance and performance. This study used the fixed effect model from the panel data of 4,282 company-observations over the period of 2007-2017. This study found that the presence of foreign board has a significant and positive effect on the company’s performance measured by return on asset and return on equity ratios. On the other hand, the presence of Asian nationality board member was found to have negative significant effect on the company’s performance, and this is due to the companies having Asian Board members coming mostly from developing countries. In general, this research show that the presence of a foreign board member can bring differences to the companies and this affects their performance. This means that companies in Indonesia need to increase the number of foreign board of commissioners from outside Asian countries in order to increase their profitability.
Corruption and Government Intervention on Bank Risk-Taking: Cases of Asian Countries Nurhidayat, Rizky Maulana; Rokhim, Rofikoh
JDM (Jurnal Dinamika Manajemen) Vol 9, No 2 (2018): September 2018
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v9i2.15951

Abstract

This paper aims to addresses the impact of corruption, anti-corruption commission, and government intervention on bank’s risk-taking using banks in Asian Countries such as  Indonesia, Malaysia, Thailand, and South of Korea during the period 1995-2016. This paper uses corruption variable, bank-specific variables, macroeconomic variables, dummy variables and interaction variable to estimate bank’s risk-taking variable. Using data from 76 banks in Indonesia, Malaysia, Thailand and South Korea over 21 years, this research finds consistent evidence that higher level of corruption and government intervention in crisis-situation will increase the risk-taking behaviour of banks. In the other hand, bank risk-taking behaviour minimized by the existence of anti-corruption commission. In addition, this paper also finds that government intervention amplifies corruption’s effect on bank’s risk-taking behaviour because of strong signs of moral hazard and weaknesses in the governance and supervision.
Foreign Ownership and Bank Performance: Evidence From Indonesia Hapsari, Amarilla; Rokhim, Rofikoh
JDM (Jurnal Dinamika Manajemen) Vol 8, No 1 (2017): March 2017
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v8i1.10409

Abstract

The main objective of this study is to examine the impact of foreign entry on the domestic bank-ing markets profitability and overhead costs as financial sector FDI is a relatively new phenom-enon and typically takes the form of banks in industrialized countries establishing branches and facilities in developing countries. A panel data covering the period from 2000 to 2012 is set based on the financial data from 82 commercial banks, which operated in Indonesia as of De-cember 2012 and represented 92 percent of the commercial banks total assets. The results of this study are expected to complement the existing collection of studies on the foreign penetra-tion in the Indonesian banking industry, as to date there has been limited study of the impact of foreign ownership on bank performance in Indonesia. From a policy perspective, this study draws some conclusions which clarify the impacts of foreign penetration on banking industry. The government should continue to open the banking market up to foreign investors if they are proven to bring a positive impact, and should act conversely if they are proven to have an adverse impact on the local banking sector.
Indonesia’s export growth decomposition in ASEAN and ASEAN dialogue partners Setyoko, Nur Rakhman; Rokhim, Rofikoh; Rohman, Ibrahim Kholilul; Rofii, Muhammad Syaroni
Economic Journal of Emerging Markets Volume 16 Issue 2, 2024
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol16.iss2.art7

Abstract

Purpose ― This paper evaluates Indonesia's trade integration efforts and their impact on export competitiveness from 1989 to 2021. It examines the evolution of trade arrangements, starting with the ASEAN Preferential Trade Arrangement (APTA) and progressing to bilateral agreements.Methods ― Based on Leamer and Stern, the Constant Market Share Analysis (CMSA) measures Indonesia’s export competitiveness over the years.Findings ― The results indicate no significant improvement in competitiveness during the analysis period, with export growth primarily driven by the effect of world growth. Although competitiveness did not shift markedly over time, it remained positive overall, suggesting a buffer effect during economic crises.Implications ― The paper suggests Indonesia should pursue deeper trade integration and unilateral economic reforms. Drawing on Korea’s experience, combining export promotion policies with trade agreements could enhance market access and foster internal competitiveness.Originality ― This study provides long-term insights into Indonesia’s export competitiveness amidst global trade integration efforts and offers policy recommendations based on the success of Korea’s trade reforms.
Is ESG Companies' Performance Influenced by Ownership Structure? Evidence in ASEAN Kurniawan, Ivana; Rokhim, Rofikoh
Interdisciplinary Social Studies Vol. 2 No. 9 (2023): Special Issue
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/iss.v2i9.485

Abstract

Background: According to studies on sustainability dimensions – environmental, social, and governance (ESG) – companies that effectively address the stakeholders’ ESG expectations are likely to outperform companies that poorly implement ESG principles. Studies show mixed results of the relationship between ESG and financial performance. Besides, ESG adoption in ASEAN countries is still in early stage compared with European countries or US region. Aim: The purpose of this paper is to investigate the relationship between Environmental, Social and Governance (ESG) performance and firm performance of ASEAN listed companies moderated by company ownership structure. Method: This paper selects publicly listed companies in ASEAN stock exchanges with data period of 2017-2021, a total of 607 companies samples with 1,309 data observations. Refinitiv Eikon ESG rating is adopted in this paper to measure ESG performance while ownership structure is measured in three aspects, which include ownership concentration, equity balances, and institutional investor shareholding. Findings: The research found that (1) ESG performance has negative and significant relation to both market-based and accounting-based firm performances, (2) ownership concentration has no significant moderating role on ESG – firm performance relationship, (3) equity balance is only significant in moderating ESG relationship to Tobin’s Q, meanwhile (4) institutional ownership is found statistically significant in moderating the ESG relationship to Tobin’s Q and ROE but not to ROA.
The Influence of Agricultural Commodity on F&B Company’s Performance in Indonesia Rokhim, Rofikoh; Setiawan, Puguh
International Research Journal of Business Studies Vol. 6 No. 1 (2013): April - July 2013
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.6.1.13-28

Abstract

This research examines the influence of agricultural commodity price movements on stock price and gross profit of food and beveragecompanies in Indonesia, as well as the effect of volatility prices of agricultural commodities. Using time series data of food and beverages (F&B) companies that are listed at the Indonesia Stock Exchange (IDX), this research calculating the event studies to find the abnormal returns. The results showed that the movement of agricultural commodity prices has a positive effect on stock prices of F&B companies, with the dominant influence of commodity prices of corn and sugar. Agricultural commodity prices also affect positively on gross profit F&B companies, with the dominant influence of commodity prices of corn and palm oil. The increase in prices of agricultural commodities simultaneously affect the value of a positive cumulative abnormal return for stocks of F&B companies. The results also showed that the decline of agricultural commodities simultaneously affect the value of negative cumulative abnormal return for stocks of F&B companies.
Business Model and Bank Risk in Indonesian Islamic Bank Anggaredho, Panji Patra; Rokhim, Rofikoh
APMBA (Asia Pacific Management and Business Application) Vol. 5 No. 3 (2017)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2017.005.03.2

Abstract

This study aimed to analyze the relationship between business model of bank's risk in Islamic banks in Indonesia. Bank risk is represented by Z-score, while business model is represented in two ways, namely the portion of fee based income in income structure and the portion of non deposit funding in funding structure. This study analyzed panel data observed through the data 33 Islamic banks in Indonesia in 2005 to 2015. The results of this study concluded that the overall size of data portion of fee based income effect on the risk of bank, while the magnitude of portion of non deposit funding is not effect on bank's risk. Then, for robustness checks, We conducted a regression between variables to categorize Islamic banks into large and small Islamic banks. In the category of large banks, both fee based income and non deposit funding did not affect bank’s risk, while for banks categorized as small, the magnitude of portion of fee based income has an influence on risk of bank, while the magnitude of portion of non deposit funding has no effect the bank's risk.
Co-Authors Aruninggar, Hesti Fairuz Hapsari, Amarilla Hapsari, Amarilla Ibrahim Kholilul Rohman Havid Rozaq Iskandar, Muhammad Ikbal Jayadinata, Difa Haq Joenoes, Muhammad Zhafran Junanta, Geryan Khaesarani, Rena Kurniawan, Ivana Marwadi Marwadi Marwadi Marwadi, Marwadi Millenia Putri, Thalia Dinda Muhammad Syaroni Rofii Natasha, Tiurma Nurhidayat, Rizky Maulana Nurhidayat, Rizky Maulana Pangaribuan, Thomas Ariel Hasiando Panji Patra Anggaredho, Panji Patra Pramudito, Yohannes Samuel Satrio Pranata, Bahal Anugrah Puguh Setiawan Rifiana, Alya Syafi Robby Farhan, Abdul Setyoko, Nur Rakhman Surya Gustanto, Jodi Wicaksana, Lazuardi Zulfikar