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All Journal Jurnal Keuangan dan Perbankan DeReMa (Development Research of Management) Jurnal Manajemen Binus Business Review JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi) Owner : Riset dan Jurnal Akuntansi Jurnal ULTIMA Accounting EKUITAS (Jurnal Ekonomi dan Keuangan) Journal of Business and Applied Management Jurnal Akuntansi Enrichment : Journal of Management Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences Journal of Sustainable Community Development (JSCD) The South East Asian Journal of Management Proceeding National Conference Business, Management, and Accounting (NCBMA) Proceeding of International Conference on Entrepreneurship (IConEnt)

Sung Suk Kim

Department Of Management, Business School, Universitas Pelita Harapan Jl. M.H. Thamrin Boulevard 1100, Tangerang, 15811

Author-ID : 430353

Religion Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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Articles

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Default Spread dan Term Spread sebagai Variabel Proxy Siklus Bisnis pada Model Fama-French Hendra, Edwin; Suk, Kim Sung
Binus Business Review Vol 6, No 2 (2015): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v6i2.977

This research aims to apply the Fama-French models and test the effect of alternative variable of bond yield spread, default spread (RBBB â RAAA and RAAA â RF), and the term spread (RSUN10-RSUN1), as proxy variables of the business cycle, in IDX stock data during 2005-2010. Four types of asset pricing models tested are Sharpe-Lintner CAPM, Fama-French models, Hwang et al.model, and hybrid model. The results showed that the size effect and value effect has an impact on excess stock returns. Slopes of market beta, SMB, and HML are more sensitive to stock big size and high B / M. Default spreads and term spreads in Hwang et al. model can explain the value effect, and weakly explain the size effect, meanwhile the power of explanation disappeared on Hybrid models. Based on the assessment adjusted R2 and the frequency of rejection of non-zero alpha, is found that the hybrid model is the most suitable model.Â Â

Impacts of financial distress on real and accrual earnings management Muljono, Danella Rachel; Suk, Kim Sung
Jurnal Akuntansi Vol 22, No 2 (2018): May 2018
Publisher : Fakultas Ekonomi dan Bisnis Universitas Tarumanagara

This research investigates the impact of financial distress on the magnitude of different earnings management approaches, namely real earnings management and accruals earnings management. This research utilizes a total of 2002 firm-year observations from 259 publicly-listed companies and 20 sub-industries in Indonesia from the year 2005 to 2014. Financial distress causes a significant increase of real earnings management and a significant decrease of accruals earnings management. It means that the healthier the company, the bigger the magnitude of real earnings management that is conducted through managing production costs and discretionary expenses. On the other hand, the lower the financial health of the company, the bigger the magnitude of accruals earnings management that is conducted through managing discretionary component of accruals.

Non-Linear Impact of Growth Opportunity and Firm Size on the Capital Structure Kim Sung Suk; Rita Juliana; Irwan Adi Ekaputra
Jurnal Keuangan dan Perbankan Vol 22, No 4 (2018): October 2018
Publisher : University of Merdeka Malang

One of the focuses on capital structure studies is to identify economic forces influencing corporate capital structure. We investigated the non-linear effects of the firm-specific factors to the leverage of the firm of the US-listed firms. In the partial-adjusted model, growth opportunity and the size of the firm had non-linear effects on the leverage of the firm. Growth opportunity showed quadratic effects on leverage with a negative linear term but a positive quadratic term. It meant if the growth opportunity of a firm reached a certain level, fund providers can relatively detect it and subsequently causes a decrease in asymmetric information. This detection of ample growth opportunity will increase the accessibility of external funding. Firm size also exhibits quadratic effects on leverage with a positive linear term but a negative quadratic term. In other words, if the firm size as a proxy of various omitted variables was imminent, the financial market has been applied the diversification discount that will decrease the accessibility of external funding.JEL Classification: G32, D92DOI: https://doi.org/10.26905/jkdp.v22i4.2402

The impacts of competition, efficiency, and risk towards bank’s performance in Indonesia Eko Cristian; Wirdy Leonarsan; Sung Suk Kim
Jurnal Keuangan dan Perbankan Vol 24, No 4 (2020): October 2020
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v24i4.4903

Banks in Indonesia provide more than 40 percent of funding in economy. Sustainable performance of commercial banks is important because they have large effects on the growth of whole economy. The purpose of this study is to investigate how the effects of competition, efficiency, and risk on performance of bank in Indonesia forty-six public commercial banks in Indonesia Stock Exchange (IDX) between 2002-2018. One-step system generalized method of moments are used to handle endogeneity in dynamic panel model. Competition of non-interest income market influence negatively on bank performance. Cost efficiency and revenue efficiency does not affect bank performance. Profit efficiency positively effect on net interest margin, but not return on assets. Credit risk negatively effects on ROA, not on NIM. Capital risk negatively effects on NIM, but not ROA. Insolvency risk negatively effects on NIM, not on ROA. While, loans and deposit market’s competition and liquidity risk does not affect bank performance in Indonesia. JEL Classification: G21, G32DOI: https://doi.org/10.26905/jkdp.v24i4.4903

Idiosyncratic tail risk and stock return in Indonesia Iyvon Herliawan; Sung Suk Kim; Kie Van Ivanky Saputra; Ferry Vincenttius Ferdinand
Jurnal Keuangan dan Perbankan Vol 24, No 2 (2020): April 2020
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v24i2.4083

Idiosyncratic tail risk explains the financial crisis which happened due to idiosyncratic risk. It could also be used as a factor for asset pricing, making it necessary to be further studied since it could help protect investors from extreme incidents that could bring loss. We investigate the effect of idiosyncratic tail risk to the stock return in Indonesia. The data of daily stock price of 662 public companies in Indonesia that was registered in Indonesia stock exchange (IDX) are used during the period of 2006-2018. We include the firms that have at least 10 trading days in a month for providing enough observation to determine tail index to get idiosyncratic tail risk. First of all we using portfolio approach to find the effect of tail risks to the stock return is used. The results show that idiosyncratic tail risk has negative effects on the stock return in portfolio level. However, idiosyncratic tail risk does not have effects on stock return in individual firm level.JEL Classification: G12, G23 How to Cite:Murningsih, S., Firdaus, M., Purwanto, B. (2020). Factors influencing Indonesian rural banks’ credit disbursement. Jurnal Keuangan dan Perbankan, 24(2), 241-251.DOI: https://doi.org/10.26905/jkdp.v24i2.3778

The effect of productivity on liquidity under financial frictions Stefanus Hugo Lusida; Kim Sung Suk
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Productivity is something that can affect the distribution of the characteristics of the assets. In this study, we investigate whether manufacturing firms in Indonesia that have high productivity have a high level of liquidity. This study uses data from manufacturing firms listed on the Indonesia Stock Exchange in the period of 2008 to 2017. We estimate the productivity level of the firm using the Generalized Method of Moments (GMM) and effects of productivity on the liquidity of the firm using the linear panel model. Results show that manufacturing firms in Indonesia with high productivity levels tend to have a higher level of liquidity than firms with lower levels of productivity. Even if Indonesia already adopt a market-based financial system, other types of financial frictions cause that firms allocate more of their resource to liquid assets than to fixed assets. Even though the effects of misallocation became weaker, misallocations of resources in manufacturing firms Indonesia are still found from a robustness test.JEL Classifications: G15, G31, G32DOI: https://doi.org/10.26905/jkdp.v23i2.3191

Bank Diversification Effects on Bank Performance and Risk Profile of Bank in Indonesia Anthony Lukmawijaya; Sung Suk Kim
DeReMa (Development Research of Management): Jurnal Manajemen Vol 10, No 1 (2015): May
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/derema.v10i1.158

We investigate the relationship of Indonesian bank diversification towards its long term performance and risk profile with Indonesian bank data from 2009 to 2013. Non-interest income to total operating income of the bank measures its bank diversification level. Bank value is measured by the adjusted Tobin's Q and risk profile which is broken down into total risk, idiosyncratic risk, and systematic risk. The result shows that bank non-interest income diversification has a positive influence on its franchise value. There is, however, no strong evidence that diversification can lower a bank's risk profile.

Default Spread dan Term Spread sebagai Variabel Proxy Siklus Bisnis pada Model Fama-French Edwin Hendra; Kim Sung Suk
Binus Business Review Vol. 6 No. 2 (2015): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v6i2.977

This research aims to apply the Fama-French models and test the effect of alternative variable of bond yield spread, default spread (RBBB – RAAA and RAAA – RF), and the term spread (RSUN10-RSUN1), as proxy variables of the business cycle, in IDX stock data during 2005-2010. Four types of asset pricing models tested are Sharpe-Lintner CAPM, Fama-French models, Hwang et al.model, and hybrid model. The results showed that the size effect and value effect has an impact on excess stock returns. Slopes of market beta, SMB, and HML are more sensitive to stock big size and high B / M. Default spreads and term spreads in Hwang et al. model can explain the value effect, and weakly explain the size effect, meanwhile the power of explanation disappeared on Hybrid models. Based on the assessment adjusted R2 and the frequency of rejection of non-zero alpha, is found that the hybrid model is the most suitable model.

PENGHINDARAN RISIKO, DIVERSIFIKASI PENDAPATAN DAN EFISIENSI INTERMEDIASI BANK DI INDONESIA Bang Jessica Santiyano; Kim Sung Suk
Journal of Business & Applied Management Vol 10, No 1 (2017)
Publisher : Universitas Bunda Mulia

This study aims to examine the effect of bank-specific factors, market structure and macroeconomic to intermediation efficiency of bank as measured by the spread. The data used as many as 99 conventional commercial banks in Indonesia from 2004 to 2013. Panel data estimation method uses the fixed effect model. Results showed that risk averse has positive effects on spread. Income diversification has negative effect on the spread. Other results show that bad loans and liquidity have negative effect on spread. While the operating costs, the market concentration, economic growth, and inflation has negativve effect on spread.Keywords: bank efficiency, risk averse, income diversification

PENGARUH ASIMETRI DARI PERBEDAAN MARKET DAN BOOK LEVERAGE TERHADAP BOOK LEVERAGE Monica Shendiana Sugianto; Kim Sung Su
Journal of Business & Applied Management Vol 12, No 2 (2019): Accredited by Ministry of Research, Technology and Higher Education of the Repu
Publisher : Universitas Bunda Mulia

ABSTRACTThis article examines the impact of market leverage and book leverage spread to the adjustment of book leverage. A sample of 352 listed companies in Bursa Efek Indonesia (BEI) over the period, 2000 to 20017 is used. The article applies the partial adjustment model to capture changes from book leverage. GMM (Generalized Method of Moments) is used as regression method to estimate the parameter. According to Welch (2004), companies will not take any action as a response to the spread of market leverage and book leverage which was caused by a fluctuation of stock price. In contrast, this article shows that the spread of market leverage and book leverage has an asymmetrical impact to the adjustment of book leverage. When market leverage decreases until it falls under the book leverage, there will be adjustment for the book leverage. The results are consistent with Ferris et al. (2018), who stated that the spread of market leverage and book leverage is caused by firm’s future growth opportunities that will decrease the market leverage. Because that situation has not been captured in the book leverage, Ferris et al. (2018) said that the adjustment for book leverage is needed. But in the other hand, there will not be any adjustment needed when market leverage increases.Keywords; Book Leverage, GMM, Market Leverage, Struktur Modal ABSTRAKArtikel ini meneliti mengenai pengaruh dari perbedaan antara market leverage dan book leverage terhadap penyesuaian book leverage. Data yang digunakan adalah data perusahaan yang tercatat dalam Bursa Efek Indonesia (BEI) pada periode tahun 2000 sampai tahun 2017 dengan jumlah sampel perusahaan sebesar 352 perusahaan. Artikel ini menggunakan model regresi penyesuaian parsial (partial adjustment model) untuk menangkap perubahan dari book leverage. Metode regresi yang digunakan adalah GMM (Generalized Method of Moments) untuk mengestimasi parameter. Menurut Welch (2004), perusahaan tidak akan turun tangan untuk menanggapi perbedaan antara market leverage dan book leverage sebagai dampak dari perubahan harga saham. Namun hasil pengolahan data dalam artikel menunjukkan hal yang berbeda yaitu perbedaan antara market leverage dan book leverage memiliki pengaruh yang asimetri terhadap penyesuaian book leverage oleh perusahaan. Dalam keadaaan market leverage yang menurun hingga lebih kecil dibandingkan book leverage akan dilakukan penyesuaian pada book leverage. Hasil penelitian ini konsisten dengan Ferris et al. (2018) yang mengatakan bahwa perbedaan antara market leverage dan book leverage terjadi akibat adanya kesempatan perusahaan untuk bertumbuh di masa depan yang akan menurunkan market leverage namun tidak tertangkap dalam book leverage sehingga perlu dilakukan penyesuaian terhadap book leverage tersebut. Namun dalam keadaan sebaliknya, tidak ada perubahan yang terjadi saat market leverage memiliki peningkatan.Kata Kunci; Book Leverage, GMM, Market Leverage, Struktur Modal.

Co-Authors Agus Diemas Prayoga Andre Suryadinata Anthony Lukmawijaya Bang Jessica Santiyano Budhidharma, Valentino Carissa Carissa Clara Constantine Clara, Nathania Cynthia Wijayanti Darmia, Darmia Derry Irahadi Derry Rijken Irahadi Dewi, Shinta Kurnia Dimu, Darmia Edwin Hendra Edwin Hendra, Edwin Edwin Wijaya Eko Cristian felicia julianti Felicia Julianti Ferdinand, Ferry Vincenttius Freshtriana, Freshtriana Golrida Karyawati Grace Turangan Gracia S Ugut Herlina Lusmeida Irwan Adi Ekaputra Iyvon Herliawan Jasen, Lie Jeanice Jeanice Jonathan Gunalan Joseph, Widyatama Juli Hendri Juliana, Rita Juniarty Kasiha, Nathalia W N Kasiha, Nathalia Wanda Nova Katherine, Hartati Kie Van Ivanky Saputra Kurniawan Kurniawan Liza Handoko, Liza Maria Stevani Sianturi Maria Stevani Sianturi Melvien Deisie Christin Welang Metta Dewi Monica Shendiana Sugianto Muhamad Farhan Muljono, Danella Rachel Nugroho, Vina Parengkuan, Samuel Ray Aditya Purba, Golrida Karyawati R. Rinda Rachmawati Brata Rahmawanti, Tamara Sandra Sandra Sembel, Jacquelinda Sandra Sidharta, Kevin Stanley Mulja Stefanus Hugo Lusida Suryadinata, Andre Sylvia Samuel Tri Mulyana Turangan, Grace Vivi Liu Waluyo, Herlina Wennars, Lesely Willyandi Tairas Wirdy Leonarsan Yoga Rima Hadi

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