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Jurnal Keuangan dan Perbankan

jkdp
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Published by Universitas Merdeka Malang

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Core Subject : Economy,

Economics, Econometrics & Finance

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Articles 784 Documents

51 52 53 54 55

Relationship of Earnings Quality and Segment Disclosure in Decreasing Cost of Equity Siti Khomsatun; Sylvia Veronica Siregar; Sidharta Utama
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

Investors would analyze the reporting of segments disclosure in the notes to the financial statements, addition to the main reporting that presents earnings and cash flows. We investigated the relationship between the segment disclosure level and the earning quality that could decrease the cost of equity. Sample of this research were 242 firms-years of manufacture industry firms. This research used simultaneous test; the first stage was a regression of segment disclosure level on earning quality and the second stage was a regression on the cost of equity. Segment disclosure level was measured from PSAK 5 Operating Segment (2009); the cost of equity measured using industry-adjusted E/P Ratio; earning quality measured using absolute of accrual quality and absolute of abnormal accrual. We found that earnings quality positively influences on segment disclosure level. We proved that there was a complementary effect between them. The second result showed that the segment disclosure level decreases the cost of equity, but marginally. The third result proved that in the second order condition, the segment disclosure level was stronger in decreasing the cost of equity. We proved that there was endogeneity of segment disclosure level in decreasing cost of equity.JEL Classification: C34, D23, M14DOI: https://doi.org/10.26905/jkdp.v22i3.2304

The Use Analysis of Internet Banking among SMEs Entrepreneurs Nugraha, Indra Sungkana; Atahau, Apriani Dorkas Rambu
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : UNIVERSITY OF MERDEKA MALANG

The increasing number of financial transaction activities resulted in a need of the fast, safe and efficient transaction.The increasing number of financial transaction activities resulted in people to require a payment means that was fast, safe and efficient in making transactions. Internet banking as one of the modern financial transaction means offered many conveniences in the activities. We investigated the factors that influenced the interests that had an impact on the behavior of SMEs in using internet banking. The samples of this research were 129 SMEs entrepreneurs who used internet banking in Salatiga. By using TAM modification namely Trust and Risk in Technology Acceptance Model (TRiTAM) and also actual system usage variable, we found that pertinence perception, convenience perception, attitude, and trust were factors that affected interest and affected the behavior of internet banking usage in transaction activities. The implication of this research was that the relationship among trusts, risk, and technology acceptance model with transaction behavior and internet banking could be mediated by customer interest. AbstrakJEL Classification: G41, G21DOI: https://doi.org/10.26905/jkdp.v22i3.1798

The Causality of BI Rate and Federal Fund Rate Andrian Dolfriandra Huruta
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v22i3.1972

The Central Bank held power to carry out a monetary policy through the setting of monetary targets such as the money supply or interest rates with the main objective of maintaining inflation at the level determined by the government. At the operational level, this monetary objective depends on the use of instruments, including open market operations in the foreign exchange market, the setting of the discount rate, the setting of minimum reserve requirements and regulating credit or financing. We analyzed the causality of Bank Indonesia (BI Rate) and US interest rates (Federal Fund Rate). This study used secondary data, especially data from Bank Indonesia and The Federal Reserve. This data was the ones from the monthly time series from January 2006 to May 2016. This study used Granger causality test to determine the causality of BI Rate and Federal Fund Rate. Granger Causality test results indicated that there was no causality between the BI Rate and the Federal Fund Rate. We found that the movement of interest rates was not only caused by the external side, but also by the internal side. The case in Indonesia showed that the movement of interest rates was mainly due to an increase in gross domestic product, low participation in the Global Value Chain and the adoption of the expansionary monetary policy.JEL Classification: E43, E52, E58DOI: https://doi.org/10.26905/jkdp.v22i3.1972

Financial Performance Determinant of Islamic Banking in Indonesia Hasan Mukhibad; Muhammad Khafid
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

The rapid growth of Islamic banks also occured in Indonesia. The high growth of Islamic banks’ assets gave opportunities to increase bad debt (non-performing financing). We examined the impact of good corporate governance (GCG), number of sharia supervisory board (SSB), financing to deposit ratio (FDR), profit and loss sharing (PLS) financing ratio, profit sharing rate of financing, and temporary syirkah fund ratio on the performance of non-performance financing (NPF) and return on assets (ROA). This research also tested the influence of NPF on ROA. The population of this research was Islamic commercial banks in Indonesia with the observation ranged from 2009-2016. The samples were determined by using a purposive sampling method. Data analysis used a structural equation model with WarpPLS. We proved that empirically GCG disclosure did not affect NPF. NPF bank was influenced by PLS financing and temporary syirkah fund ratio. PLS financing income and FDR financing did not affect the NPF. Moreover, GCG, SSB, temporary syirkah fund, and NPF disclosures influenced profitabilityJEL Classification: G31, G32, G34DOI: https://doi.org/10.26905/jkdp.v22i3.2061

Determinants of Bank Efficiency during Financial Restructuring Period: Indonesian Case Felisitas Defung
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

The banking sector in Indonesia had been through many challenges aftermath the 1997 Asian financial crisis. The restructuring programs aimed to strengthen and improve the performance of the banking system. Empirical researches around the world, however, present various result with regard to the effect of the policy on bank efficiency. We investigated the determinants of the relative efficiency of the Indonesian banking industry. Using panel data of 101 Indonesian commercial banks, this study employs a non-parametric frontier method, Data Envelopment Analysis (DEA), to measure the efficiency score. In the second stage, the Tobit regression model used to analyse the factors that potentially determine the variation of efficiency score. The finding indicated the bank was technically inefficient particularly during financial restructuring. The improvement was evident toward the end of the period. Bank size, macroeconomic factors, and three bank groups were strongly associated with bank efficiency level. There was no strong evident that merger, which typically the form of restructuring policy output, positively associated with bank efficiency.JEL Classification: G21, G28, G34, C14DOI: https://doi.org/10.26905/jkdp.v22i3.2094

Does Culture Matter in Fraud Prevention Behavior? National Culture Based Study of Indonesian Bankers Irawanto, Dodi Wirawan
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

The rapid global movement questions on how a person had a worldview and how his behavior was influenced by its culture. International business meant that culture frequently used by social science researchers in the national cultural dimensions and that related to the economic growth of the financial aspect. Fraud prevention predicted to have a relation to a national culture that was on how the organization created ethical behavior through good corporate governance. This survey explored some important concepts regarding the national culture dimensions that tend to strengthen the fraud prevention actions on Indonesian State Owned Enterprises (SOEs) Bank in East Java as well as to develop an anti-fraud strategy that can be used as one of the efforts in fraud prevention. The findings suggest that national culture played an important role in creating fraud prevention behavior with long-term orientation as the key aspects to be considered in creating a successful organization strategy to combat fraud. JEL Classification: D23, F52, K42DOI: https://doi.org/10.26905/jkdp.v22i3.2139

Equity Financing and Islamic Banks’ Profitability: Evidence from the Biggest Muslim Country Tastaftiyan Risfandy
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

It was highlighted in the literature that Islamic banks’ equity financing was very risky in practice. Theoretically, equity financing could boost Islamic banks’profitability because the riskier financial instrument was always associated with the greater return that could be created. Using a sample of nine Islamic banks in Indonesia from 2009m1 to 2014m12, interestingly we found that a higher proportion of equity financing was significantly associated with lower Islamic banks’ profitability. However, this negative relationship diminished in the case of large Islamic banks, implying that the negative effect of equity financing on Islamic banks’ profitability was more prominent for small banks rather than for large banks. Our results were robust using various estimations. Although equity-financing was a core of Islamic banks and could differ Islamic from conventional banks’ activities but Islamic banks altogether with policymakers should evaluate this instrument for the sake of Islamic banks’ profitability and its prospects in the future.JEL Classifications: D25 ; G21 ; L25DOI: https://doi.org/10.26905/jkdp.v22i3.2150

Estimating Profitability of Islamic Banking in Indonesia Agus Widarjono
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

The Islamic banking industry in Indonesia had experienced rapid growth since the government passed the Islamic banking law in 2008. Although growing fast but the market share of Islamic banking was still low. To increase the market share of Islamic banking, it was necessary to encourage Islamic banking performance. One of the performances of Islamic banking investigated in this study was profitability. We examined the profitability of Islamic banking using both internal and external factors. The method used to estimate the profitability of Islamic banking was the Autoregressive Distributed Lag Model (ARDL) method with monthly data. The estimation results showed that both internal and external factors affect the profit of Islamic banking. Asset, FDR, efficiency, and NPL affect profitability. An important variable affecting profitability were the bad financing (NPF). While the external factor influencing the profit of Islamic banking was the exchange rate and inflation. The implication of this result was that Islamic banking must be able to manage well the bad financing. Since NPF also depends on macroeconomic conditions, the government must be able to manage macroeconomic performance well such as stabilizing the exchange rate.JEL Classification: G21, G24DOI: https://doi.org/10.26905/jkdp.v22i3.2197

Bank-Specific Factors, Regional Economy, and RDBsâ€™ Non-Performing Loans throughout Indonesia Aruninggar, Hesti; Rokhim, Rofikoh
Jurnal Keuangan dan Perbankan Vol 22, No 3 (2018): July 2018
Publisher : University of Merdeka Malang

Regional development was directed to achieve national targets by taking into account the potential, aspirations, and development issues in the regions. One of the inclusive work programs in Indonesian Financial Services Sector Master Plan 2015-2019 was to develop regional economic potential by strengthening the function and role of the regional development bank in supporting the regional economy. We analyzed the influence of bank-specific factors and economic conditions of the regions, where headquarters of the regional development bank (RDB) operates, on non-performing loans recorded by RDBs throughout Indonesia. The research conducted at 25 RDBs spread all over Indonesia for six years. The data used panel data regression with the Fixed Effects method due to a possibility of region and time differences. We found that bank-specific factors and local economic conditions affect non-performing loans at RDBs. This can be seen from higher bank capitalization and operational inefficiency costs which had stimulated a significant rise in non-performing loans at RDBs, while increasing bank profitability had driven non-performing loans to drop significantly. Furthermore, in the factor of regional economic conditions, gross regional domestic product and inflation in the regions had a significant effect on decreasing level of non-performing loans at RDBs throughout Indonesia. JEL Classification: E32; G21; G28; R10; R11DOI: https://doi.org/10.26905/jkdp.v22i3.2233

Sunk Cost Dilemma Behavior: The Contribution Marketing Expenses towards Financial Performance Gesti Memarista; Lila Gestanti
Jurnal Keuangan dan Perbankan Vol 22, No 4 (2018): October 2018
Publisher : University of Merdeka Malang

Marketing expenses can drove the financial performance of a company, but sometimes it was only a sunk cost. The sunk cost dilemma behavior can confuse a financial manager, confounding decisions about whether to invest in marketing. Thus, this study aimed to explain the relationship between marketing expenses and profitability. The research subjects were manufacturing firms listed on the Indonesia Stock Exchange between 2012 and 2016. The results showed that marketing-related research and development expenses, selling expenses, and operating cash flow had a significant positive relationship with return on assets (ROA) and return on equity (ROE). Moreover, lagged research and development expenses—specifically, expenses from the previous four years (RnDt-4)—had a significant effect on ROA and ROE. Leverage had a significant negative effect on ROA and ROE. On the other hand, firm size had no significant impact on profitability. The findings showed that marketing expenses were not a sunk cost; they were an investment that leads to good financial performance. Greater investments in marketing expected to entice consumers bought a company’s products and created more profitability, leading to improved financial performance.JEL Classifications: L25, M31, M37 DOI: https://doi.org/10.26905/jkdp.v22i4.1871

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