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EKUITAS (Jurnal Ekonomi dan Keuangan)
ISSN : 2548298X     EISSN : 25485024     DOI : -
Core Subject : Economy,
Diterbitkan oleh Sekolah Tinggi ilmu Ekonomi Indonesia (STIESIA) Surabaya secara berkala (setiap tiga bulan) yaitu setiap Maret, Juni, September, dan Desember, dengan tujuan untuk menyebarluaskan hasil penelitian, pengkajian, dan pengembangan bidang ekonomi dan keuangan, khususnya bidang akuntansi, manajemen, pasar modal hukum bisnis, perpajakan, sistem informasi, serta bidang ekonomi dan keuangan lainnya. Artikel yang dipublikasikan dalam EKUITAS dapat berupa Artikel Penelitian maupun Artikel Konseptual (non-penelitian).
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Articles 7 Documents
Search results for , issue "Vol 11 No 2 (2007)" : 7 Documents clear
PENGARUH STRUKTUR KEPEMILIKAN, STRATEGI DIVERSIFIKASI, LEVERAGE, FAKTOR INTERN DAN FAKTOR EKSTERN TERHADAP NILAI PERUSAHAAN (STUDI EMPIRIK PADA PERUSAHAAN MANUFAKTUR DAN NON MANUFAKTUR DI BURSA EFEK JAKARTA) Sujoko Sujoko
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 11 No 2 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2007.v11.i2.317

Abstract

The main objective of the study is to examine the impact of ownership structure, diversification strategy, leverage, external factor, internal factor on the value of the firms in Jakarta Stock Exchange. It is argued that unlike the agency problem of advanced stock market, the agency problem in the Jakarta Stock Exchange is the divergence of interest between the minority holders and majority holders. This is because the Jakarta Stock Exchange is characterized, among other things, by the domination of large shareholders. The hypotheses are: (1) there are the impact of ownership structure, external factor, and internal factor on diversification strategy, (2) there are the impact of ownership structure, external factor, internal factor, and diversification strategy on leverage, (3) there are the impact of ownership structur, external factor, internal factor, leverage ,diversification strategy on value of the firm. This study is to examine Agency Theory, Jensen and Meckling (1976), Pecking Order Theory, Myers (1984), Trade Off Model and Signaling Theory (1979). Population in this study are public company listed in Jakarta Stock Exchange  during 2000 – 2004. As many as 134  firms listed in Jakarta Stock Exchange were taken as a sample using a purposive sampling method.The data were then analyzed by the structural equation modeling ( SEM) analysis, using the AMOS Program version 4.01.The results of this study show that (1) there are the impact of ownership structure, external factor, internal factor on diversification strategy, (2) there are the impact of ownership structure, diversification, external factor, internal factor on leverage,(3)there are the impact of ownership structure, external factor, internal factor, leverage, diversification on value  of the  firm. The result of the study does not support the Agency Theory, from Jensen and Meckling (1976), but the result of the study  supports  Pecking Order Theory from  Myers (1984),  Trade off model and Signaling Theory from Battacharya (1979). The result of the study is hoped to contribute theoretically and practically.Theoritical contribution is bounded to examine the Agency Theory from Jensen and Meckling (1976), Pecking Order Theory from Myers (1984), Trade off model and Signaling Theory from Battacharya (1979). The result of the study to indicate that  practice public company in Indonesia is not concern with Agency Theory from Jensen and Meckling (1976). The result of the study indicates that Pecking Order Theory from Myers (1984). Trade Off Model and Signaling Theory from Battacharya,(1979) are concerned with the practice public company in Indonesia.
ANALISIS STRUKTUR MODAL DAN NILAI PERUSAHAAN YANG DIUKUR DENGAN TOBINS’Q Lailatul Amanah
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 11 No 2 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2007.v11.i2.318

Abstract

The objective of this study is to analize whether the increasing leverage followed by increasing values of the firm, and examine differences stock return before and after laverage increase. This study develops Kusumawati’s reseach (2005) about optimal capital structure, that analize three stocks in knowing the changes of leverage and of value of the firm. Sample of this reseach are companies which increase leverage  without changing the number of stock.The result of this study shows that the increasing leverage followed by the increasing value of the firm. This is consistent with the previus study (Suranta and Mahfoedz, 2003). But the test of stock return differencies before and after the leverage increase does not show a significant result. This result is not consistent with The Masulis Study (1980). He found that a company which changes stocks to loan will increase its stock return up to 6,6%.
PENGARUH PROMOSI PENJUALAN TERHADAP REPURCHASE MELALUI TRIAL DENGAN MODERASI FEAR OF LOSING FACE PADA SOGO DEPARTMENT STORE SURABAYA Indrianawati Usman; Rizky Adhitya Arnando
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 11 No 2 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2007.v11.i2.314

Abstract

This paper examines the influence of sales promotion related to trial which is moderated by fear of losing face and influence of trial related to repurchase in Sogo Department Store Surabaya. The variables used in this reseach are sales promotion (X), fear of losing face (Z­1), trial (Z2), and repurchase (Y). The result indicates that the effect of sales promotion on trial is weak when fear of losing face is perceived.  In other words, perceived fear of losing face reduces customers’ sensitivity to the trial. The second result indicates that trial is related to repurchase.
MOTIVASI BERWIRA USAHA DI KALANGAN MAHASISWA: APLIKASI THEORY OF PLANNED BEHAVIOR Yulius Koesworo; Siprianus S. Sina; B. Diana Nugeraheni
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 11 No 2 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2007.v11.i2.319

Abstract

Entrepreneurship motivation plays important role in developing new business organization. This research addresses to test variable influence entrepreneurship among students in East Java.  It refers to the theory of planned behavior  modified by Segel et. al (2004)  that uses three dependent variables, they are perceived feasibility or self afficacy (SE), risk tolerence (TR) and net desirability of self employment (NDSE) to explain entreprenuership motivation.To test this assertions, sample used are 854 students from 10 universities in Surabaya, Malang and Jember. Then, hypothesis both partial and simultanious  variables, SE,TR and NDSE have positive relation to entrepreneurship motivation (MB) tested by regression and correlation analysis. As a result,  findings support hypotesis and have significant implication for the way in which we conceptualize entrepreneurship motivation.
ANALISIS SWOT DAYA DUKUNG DAERAH TERHADAP PENGEMBANGAN KAWASAN INDUSTRI KABUPATEN BLITAR Khuzaini Khuzaini; Suwitho Suwitho
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 11 No 2 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2007.v11.i2.315

Abstract

The first step of industrial area development needs to find out the current conditional supportiveness in the smallest area unit. The smallest unit of Regency or Municipality is subdistrict. The setting of this study is Blitar Regency while its smallest area units studied are the Subdistricts of Bakung, Wonotirto, Sutojayan, Panggungrejo, Wates, Binangun, Kesamben, Selorejo, Doko, Wlingi, Talun, Selopuro, Kanigoro, Kademangan, Sanankulon, Srengat, Udanawu, Wonodadi, Ponggok, Nglegok, Garum and Gandusari.. The method used is SWOT analysis which considers internal factor constructed in IFAS (Internal Strategic Factor Analysis Summary) table and external factor constructed in EFAS (External Strategic Factor Analysis Summary) table. The highest IFAS values is Subdistrict Ponggok, while the highest EFAS values is Kademangan. Based on IFAS and EFAS values, the quadrant position will be derived in SWOT matrix whose x axis is IFAS and y axis is EFAS. There are four quadrants in SWOT matrix, they are S-O (Strengths – Opportunities), W-O (Weakness-Opportunities), S-T (Strengths-Threats), and W-T (Weakness-Threats). The results of this current study suggest that from 22 Subdistricts we studied, there are ten Subdistricts in S-O quadrant, two in W-O quadrant, five in  S-T quadrant and five in W-T quadrant. Based on the position of these Subdistricts in SWOT quadrant, the appropriate strategy for each Subdistrict in developing their area in order to support the development of industrial area will be determined.
PENGARUH MOTIVASI KERJA TERHADAP PRESTASI KERJA (STUDI KASUS PADA TIGA PERUSAHAAN MAKANAN DAN MINUMAN TERBUKA/TBK) DI JAWA TIMUR Moeheriono Moeheriono
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 11 No 2 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2007.v11.i2.316

Abstract

The objectives of the research are to examine the effects of motivation (physiological needs, safety security needs, social needs, esteems needs, self-actualization needs) on performances in the food and beverage industry (Go Public companies). The data wese gathered through the administration of questionnaires as well as direct interview with a selected subjects.The result of the research at multiple linier regression analysis model discover that motivation of physiological needs (0,3457), safety security needs (0,3072), social needs (0,191), esteem needs (0,0173), self-actualization needs (0,0166) has a significant positive effect on performance. The result of Analysis Variance (ANOVA) method has insignificant effects on the food and beverage industry (Go Public companies) (2,005).Other additional findings are also reported and further discussed, while several recommendations for future research are developed.
MEMPREDIKSI KINERJA KEUANGAN DENGAN MODAL INTELEKTUAL PADA PERUSAHAAN PERBANKAN TERBUKA DI BURSA EFEK JAKARTA Sri Iswati
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 11 No 2 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (0.057 KB) | DOI: 10.24034/j25485024.y2007.v11.i2.313

Abstract

To overcome the competition, a company not only focuses on physical capitals, but also focuses on intellectual capitals. Company can achieve a competitive advantage and earn profit by owing intellectual capitals. Intellectual capitals rest on a potential link between intellectual capitals on one hand and corporate performance on the other hand. A company will grow up if a growing number of physical capitals in the same line with a growing number of intellectual capitals.The purpose of this empirical study is to investigate the influence of intellectual on bank performance, especially financial performance. This study uses empirical data from Indonesia Capital Market Directory 2005 issued by Jakarta Stock Exchange (JSE). This research uses quantitative analysis. The population of the research are banks listed in JSE.  The hypothesis test uses regression analysis model with the degree of significance at 0.05.  The main conclusion of this particular study is intellectual capitals have no influence on bank  performance.

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