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PERAN KEPEMIMPINAN TRANSFORMASIONAL DAN MOTIVASI TERHADAP KINERJA KARYAWAN DENGAN MODERASI MASA KERJA
Noermijati Noermijati
Jurnal Keuangan dan Perbankan Vol 19, No 2 (2015): May 2015
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v19i2.854
Leadership had a critical role for banking organization to enhance employee performance. In addition, organizationhad to pay more attention to employee's work motivation and tenure. The research purposes were toanalyze the effect of transformational leadership and work motivation on employee performance, and the roleof tenure to moderate the effect of transformational leadership and work motivation on employee performance.This research involved 100 operational employees as the respondents with simple random sampling technique.By using Moderation regression analysis, it was found that transformational leadership significantlyinfluenced employee performance. However, work motivation did not influence employee performance. Tenuremoderated the role of transformational leadership on employee performance; meanwhile, tenure did not moderatedthe effect of work motivation on employee performance of BRI Bank, Jombang branch.
STRUKTUR KEPEMILIKAN, PROFITABILITAS, PERTUMBUHAN AKTIVA DAN UKURAN PERUSAHAAN TERHADAP STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR
Kartini Kartini;
Tulus Arianto
Jurnal Keuangan dan Perbankan Vol 12, No 1 (2008): January 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i1.867
This research aimed to test influence of the Ownership Structure, Profitability, Assetgrowth, and Size measure of firm to Capital Structure. This Research was limited onlymanufacturing company which had gone public in Jakarta Stock Exchange. This research wasconducted by taking secondary data. Population in this research was manufacturing companyobtained from share which was listed and go public in Jakarta Stock Exchange period 2002-2005. The intake technique was random sampling, and the obtained data was 38 companies.Result of analysis or T test in this research indicated that the ownership structure, asset growth,and size of company were significant or accepted. Only unprovable profitability was refused.While result F test showed that independent variable had an effect on the significance toCapital Structure of company in significance level 5%, and variable of size of company insignificance level 10%.
PENGUJIAN PECKING ORDER THEORY PADA EMITEN SYARIAH DI BURSA EFEK JAKARTA
Sutapa Sutapa;
Hendri Setyawan;
Heri Laksito
Jurnal Keuangan dan Perbankan Vol 12, No 1 (2008): January 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i1.868
The objective of this study was to test empirically whether capital structure decisionof Indonesian firms followed a hierarchy of sources of finance called Pecking Order. Samplesin this study were 29 firms listed in Jakarta Islamic Index (JII) from 2001 to 2004. Variabelsused as proxy of Pecking Order Theory (POT) were profitability, investment opportunity andfirm size. The results of this study were as follows: a). simultaneously, all proxies for POT couldexplain capital structure at Indonesian Capital Market, b). more profitable firms were lesslevered, c). bigger firms were more levered, d). result for investment opportunity did notsupport hypothesis. Firms listed at JII tended to follow POT in their financing decision. Part ofresults of this study was consistent with study of Wiwattanakantang (1999), Fama and French(2002), Benito (2003) and Mutamimah (2003).
KEMAMPUAN DAN PEMANFAATAN KREDIT OLEH IRT DALAM UPAYA PENGEMBANGAN USAHA: PADA PENGUSAHA KRIPIK TEMPE
Haryanto, Sugeng
Jurnal Keuangan dan Perbankan Vol 12, No 1 (2008): January 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i1.880
This research explained the ability and the credit use in home made business namelytempe crispy chips. The sample of this research was home made business in Tugu sub district,Trenggalek regency that made tempe crispy chips. Credit for business was a factor which hada very important role in supporting the increase of a business. Credit giving was an injectionhoped to create capital for people economy activity and to increase production. This researchintended to 1) know the ability of home made industry in taking credit from micro financeunit, and 2) know the credit used by home made industry in increasing the business. Homemade industry had an ability to take credit from a bank. They all had accepted credit fromlocal government distributed through BPR (people Credit Bank) namely credit program. Credituse was not only used for increasing business but also for fulfilling other household needs.
COMPETITIVE DAN CONTAGION EFFECTS DALAM TRANSFER INFORMASI INTRA INDUSTRI TERHADAP PENGUMUMAN STOCK SPLIT
Shinta Heru Satoto;
Hasa Nurrohim KP
Jurnal Keuangan dan Perbankan Vol 12, No 2 (2008): May 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i2.883
The purpose of this research was to investigate the intra industry informationtransfers on stock split announcement at manufactured industries. This research would alsoinvestigate the contagion and competitive effect of the announcement and the factors thatinfluenced this effect. Result of this research showed that there was an abnormal return onsplitting and nonsplitting firms, and the competitive effects that influenced this research(industry characteristic, firms specific characteristics, earning correlation and return variance).However, those factors could not explain the information transfers. This reaction did notinfluence the earning changes of nonsplitting firms
AGENCY COST TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR DAN JASA YANG GO PUBLIC DI INDONESIA
Triani Pujiastuti
Jurnal Keuangan dan Perbankan Vol 12, No 2 (2008): May 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i2.884
This analysis developed to reach empirical evidence of the effect of agency costfactors toward evidence policy. In another hand this analysis wished to prove whether theagency problem able to be decreased through dividend payment mechanism withinmanufactures and services company in BEI, Indonesia, in 2000-2005. Agency cost variable hasbeing represented by Insider Ownership, Shareholder dispersion, Collateral Assets, debt andFree Cash Flow. The model which ran in this analysis was Multiple Linier Regressions. Theresult of analysis showed that agency problem able to be decreased through dividend paymentmechanism, from Insider Ownership which gives negative effect, Shareholders Dispersion whichgives positive effect, and Debt which gives negative effect toward dividend policy, whilecollateral assets and free cash flow not significant affecting to dividend policy within agencyconflict. Agency cost variable significant affected the dividend policy within agency conflictsimultaneously, with the sum of the effect was 18%.
AGENCY COSTS DAN KEBIJAKAN DIVIDEN PADA EMERGING MARKET
Darman Darman
Jurnal Keuangan dan Perbankan Vol 12, No 2 (2008): May 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i2.885
The purpose of this research was to analyze agency costs and dividend policy onemerging market. The research population was 147 manufacture industry companies listedat the Indonesian Stock Exchange. Sample were retrieved bases on purposive sampling method,there were 25 companies, which were fulfilling the condition needed, starting from 2000until 2005, pooling data with analysis unit n = 6 x 25 = 150. Research used ordinary leastsquare. Research results showed that agency costs did not significantly influence dividendpolicy. Research conclusion was that agency costs were not important factors of dividendpolicy. Next analysis result showed that insider ownership, institutional ownership, dispertionof ownership, and free cash flow did not significantly influence dividen policy. Thecollateralizable asset significantly influenced dividend policy. This finding showed that therewas no agencial conflicts between manager (agent) and stockholders (principals) in emergingmarket (manufacture industry companies listed at the Indonesian Stock Exchange). However,there were agencial conflicts between stockholders and creditor (bondholders).
STRUKTUR CORPORATE GOVERNANCE DAN KETEPATAN WAKTU PENYAMPAIAN LAPORAN KEUANGAN: STUDI PADA PERUSAHAAN JASA DI BEI
Tri Gunarsih;
Bambang Hartadi
Jurnal Keuangan dan Perbankan Vol 12, No 2 (2008): May 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i2.886
The main objective of this study was to examine the impact of corporate governancestructure and the performance of the firms to timeliness in Indonesian Stock Exchange. Thisstudy combined corporate governance structure and timeliness study. Samples in this studywere service public companies. The research questions were tested by running two logisticsregression models. The dependent variables were dyygre timeliness proxied by dummy variable.It got 1 if companies published financial report before 120 days after December 31st and itgot 0 if the report was published after 120 days after December 31st. Governance structureswere proxied by ownership concentration and number of the Board of Directors and numberof the Board of Commissioners. Ownerships concentration was measured by herfindahl indexdomestic institution (HI_DOM). HI_DOM was the sum of square of ownership proportion bydomestic institution. The result of this study showed that there was a negative relationshipbetween number of the Board of Directors (as one of governance structure proxy) andtimeliness. The other significant variable was ROI as financial performance proxy.
RISIKO, PROFITABILITAS, LEVERAGE OPERASI, DAN UKURAN PERUSAHAAN TERHADAP PERATAAN LABA
Syafriont By
Jurnal Keuangan dan Perbankan Vol 12, No 2 (2008): May 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i2.887
A recent analysis showed that there was a significant effect among firm size,corporate risk, profitability and operating leverage to corporate income smoothing practices.The objective of this research was to empirically reexamine the factors that affected incomesmoothing practices. There were four factors that were examined, namely firm size, corporaterisk, profitability and operating leverage. The samples used in this study were 89 firms listedat Indonesian Stock Exchange (ISE between 2005 to 2007). The multivariate test, the use oflogistic regression results showed both risk and profitability affected significantly to incomesmoothing practices. While firm size and operating leverage did not affect significantly toincome smoothing practices, the univariate test support the previous test that showed therewas statistically difference in risk as well as profitability between smoother and non-smootherfirms. However, both firm size and operating leverage were not statistically different.
LEVERAGE KEUANGAN TERHADAP ROE PERUSAHAAN TEKSTIL DI INDONESIA
Nadya Tikanitha Syceria Mulia
Jurnal Keuangan dan Perbankan Vol 12, No 2 (2008): May 2008
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v12i2.888
The objective of this research was to analyze financial leverage economy conditionand the influence toward Return on Equity (ROE). This research also would like to examinethe difference of ROE from many companies which had lower and higher financial leveragebased on two economic conditions, namely economy in normal condition and in crisis one.The samples were textile companies listed in Indonesia Stock Exchange. Data of this researchwas the financial statement of the firms and Indonesian economic growth conducted from2005 to 2007. The samples were devided into two groups. First group was the companies thatfinancial leverage was lower than the average financial leverage of textile and textile productcompanies, and the other sample was the companies that financial leverage was higher thanaverage financial leverage of textile product companies. Multiple regression analysis wasused to get estimators of parameter. T test and F test were used to examine partially andsimultaneously significance of variables influencing the ROE. T test for two independentsamples was used to examine the significance of the ROE. Research findings showed thatfirst, financial leverage was statistically negative but significance to ROE, but the economicconditon was not statistically significance in influencing ROE. Second, both economic conditionshad positive influence and was not significant to ROE.