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Jurnal Keuangan dan Perbankan

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Published by Universitas Merdeka Malang

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Economics, Econometrics & Finance

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Articles 784 Documents

55 56 57 58 59

The differences between family firms and non-family firms: Evidence in Indonesia Farida Titik Kristanti; Riko Hendrawan; Salehudin Eka Saputra Alrasidi
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

A family firm is a firm controlled by members of a family through their ownership in the management. This study aimed to observe the presence of differences in gender diversity, cash holding, and financial performance on Family Firms (FFs) and Non-Family Firms (NFFs). The purposive sampling conducted in this study produced 67 samples of companies listed on the Compass 100 Index. They mostly belong to the FF criteria. They also have gender diversity, non-conservative capital structure, medium-size, and low cash holding. The results of difference tests proved the presence of significant differences between the FFs and the NFFs on the variables of firm size, leverage, and gender diversity. Although ROE did not show significant differences, the FFs had higher ROE than the NFFs. Furthermore, the practical implication of this study is the need to consider the presence of women on the board and their share in the firms’ decision making. JEL Classification: G10, G19, G32DOI: https://doi.org/10.26905/jkdp.v23i2.2687

Private information, yield volatility, and interaction between groups of investors: Case of Indonesia government bond market Buddi Wibowo
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Relation of private information and yield volatility in the relatively low liquid markets such as the Indonesia government bond market is one of the recent important research topics in finance. Because private information accumulation mastery affects interaction patterns between dealers dan their customers, it is urgent to identify this price mechanism in the government bond market, especially in a low liquid market in which small trading volume may create serious yield volatility. If there is a substantial disagreement on bond fair value because of distinct private information quality between each of those groups of investors' success to accumulate it, bond price will fluctuate wildly. This paper study the dealer and customer order flow interaction to identify which side that have greater impact on yield volatility. The results show that from the two layers of order flow, disagreement between dealers and customers is slightly in a short-term and medium-term bond so their volatility is relatively low. But for a long-term bond, disagreement is substantial and creates high yield volatility. Different trading platforms and strategies between dealers and customers play an important role in creating high yield fluctuations.JEL Classification: G12, G14, G11DOI: https://doi.org/10.26905/jkdp.v23i2.2823

Bank loan loss provisions research: A review of the empirical literature Oryza Sativa Heningtyas; Ari Kuncara Widagdo
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

This paper aims to provide an overview of the literature on Loan loss provisions in the Banking industry. This research was conducted by reviewing some literature. LLP is a solution for banks to deal with risks that will be faced by banks or as a prudent banking principle. We have reviewed and mapped the literature in several sections, developments in the Basel Regulations, mapping LLP literature based on the research area, and LLP and hypothesis mapping. The main fact that we reveal is that most banks use LLP regulations for various purposes. This paper relies on the literature and highlights information as well as important issues related to LLP in the research field, this study highlights several important issues related to the banking industry in various countries. This study observed the role of LLP during the application of Basel III regulation which tended to provide flexibility to bank managers in determining provision reserves. We have reviewed the specific LLP literature in one country and cross-country research. This study identifies gaps and provides direction that can be used as a research contribution in the future.JEL Classification: G1, G2, G4DOI: https://doi.org/10.26905/jkdp.v23i2.2835

Probability of default as the early warning system for the Indonesian banking sector Ari Christianti
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Early Warning System for banks is used to predict default risk. This research is to test the probability of defaults with the probability of default in the real condition of banks. The probability of default risk is measured by KMV-Merton Model and the probability of default in the real condition of banks is bank’s performance based on whether there are bank’s actions that cause changes in the bank's financial statements report. This study using banks listed in the Indonesian Stock Exchange (IDX) from 2010-2015. This study analysis probability of default with financial condition based from 4 commercial bank categories and BUKU (Commercial Bank Based on Business Activities) categories. The results of this study are the probability of default with Merton model give a strong signal against the default of bank for one bank only but for banks in BUKU 4 give a strong signal that banks in this category do not default. Since for other banks and for other BUKU categories do not represent the real condition from the probability of default. It can be concluded that the Merton model is not generated sufficient enough model to predict the probability of default since it assumes that the market is in under efficient condition, and it just considers firm-specific risk.JEL Classification: G21, G32, G33DOI: https://doi.org/10.26905/jkdp.v23i2.2856

Budget gaming behavior: Evidence in Indonesian manufacturing companies SeTin SeTin; Roy Sembel; Yvonne Augustine
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v23i2.2945

Budget gaming behavior in the budgeting process has a serious impact on organizational performance. This behavior continues to exist as a consequence of the prevalence of traditional budgeting practices. This unsolved budget behavior needs serious handling. Understanding this behavior through gathering evidence is the first step in controlling the practice of budget gaming. This study aims to obtain evidence about budget gaming practice in Indonesia. Data collection through interviews, surveys, and analysis of annual reports. Interviews were conducted on four managers of go public manufacturing companies. Survey through questionnaires to 31 managers. The analysis of the 2013-2017 annual report on directors' reports and management discussion reports on three companies. This study concluded that budget gaming practice still occurs in manufacturing companies in Indonesia and is still an important problem that has not yet been solved. This study also found that budget gaming is related to the performance evaluation system. The study result provides important information for stakeholders and researchers in understanding budget gaming behavior and finding solutions to minimize budget gaming practice.JEL Classification: M2, M40, M41DOI: https://doi.org/10.26905/jkdp.v23i2.2945

Intellectual capital and bank profitability: Evidence from conventional and Islamic bank in Indonesia Danes Quirira Octavio; Yuli Soesetio
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v23i2.3028

This study investigates the effect of intellectual capital on bank profitability. In addition, we also analyze the effect of intellectual capital on bank profitability based on bank types, conventional and Islamic bank. Our data consist of conventional and Islamic banks operated in Indonesia from 2010 to 2016 annually. Since our data are a panel, we employ panel regression. Intellectual capital is measured by using Value Added Intellectual Capital (VAIC). Our result shows that intellectual capital has a positive significant impact on bank profitability. After data classified based on bank types, intellectual capital only has a positive significant effect on conventional bank profitability. We also attempt to estimate the impact of VAIC components, such as Human Capital Efficiency (HCE), Structural Capital Efficiency (SCE) and Capital Employed Efficiency (CEE), on bank profitability. The results show that the impact of HCE is strongly significant in both banks. However, CEE and SCE do not have a significant effect on both types of bank profitability. Our results indicate that conventional banks synergize their intellectual and physical capital in creating profit better than Islamic banks. Thus, this research could be a critique of the Indonesian Islamic banking industry in determining and overcome their weakness.JEL Classification: G21, G32, G32DOI: https://doi.org/10.26905/jkdp.v23i2.3028

An entrepreneurial finance study: MSME performance based on entrepreneurial and financial dimensions Maria Rio Rita; Mohamad Nur Utomo
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Various researches have been conducted towards the dynamics of micro, small, and medium enterprise (MSME) developments, but there are still research gaps that can be explored further. The purpose of this research is to examine the determinant factors of MSME performance as seen from the entrepreneurial dimension and the financial activities done by entrepreneurs. The research objects of this study are two batik MSME centers in Central Java Province, which are Rembang Regency and Surakarta municipality. The research model was tested by using PLS-SEM with WarpPLS version 6.0. The research findings revealed there is a positive influence between the dimensions of entrepreneurship and outside finance, entrepreneurial dimension and MSME performance, outside finance, and MSME performance, as well as innovation investment and MSME performance. Another research finding found that the entrepreneurial dimension, which consists of entrepreneurial emotion and entrepreneurial cognition, does not have a positive influence on MSME performance. Meanwhile, outside finance has a negative influence on innovation investment. This research proposes a future research agenda to add other variables that are suspected of influencing MSME performance, whether from a financial or a non-financial aspect, such as financial literacy and the application of digital marketing.JEL Classification: A10, D19, G40DOI: https://doi.org/10.26905/jkdp.v23i2.3076

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

Financial banking performance of ASEAN-5 countries in the digital era Nazaruddin Malik; Arlini Oktavia; Muhammad Sri Wahyudi Suliswanto; Firdha Aksari Anindyntha
Jurnal Keuangan dan Perbankan Vol 24, No 1 (2020): January 2020
Publisher : University of Merdeka Malang

The improvement of technology and information create a digital era in all aspects of the economy, one example is in the banking sector. This study aims to find out and compare the financial performance of banking industry in Indonesia, Singapore, Malaysia, Thailand and the Philippines in the period 2012-2017. The model used in hypothesis testing using one way ANOVA parametric test. Furthermore, using the panel regression analysis and results from coefficient of determination (R2) from the regression to see the influence of digital era on ASEAN banking financial performance. The results of the study showed that the financial performance of ASEAN-5 banks differ significantly with other ASEAN countries and the average value of Indonesian banking financial performance showed better results than the other four ASEAN countries on CAR, ROA, and NIM ratios. However, on average the LDR ratio shows that Singapore, Malaysia and Thailand are better than Indonesia. There are two of five variables that have a significant effect on bank profitability, namely the implementation of digital banking and the funding variables from third parties in banks. Other variables that are not significant are completeness in information of digital banking provided by the bank, the number of internet banking users of each bank, and the amount of credit channeled by the bank. The coefficient of determination (R2) is 41%, which means the effect of using digital banking is good enough on financial performance of bank in ASEAN.JEL Classification: G21, G32 How to Cite:Malik, N., Oktavia, A., Suliswanto, M. S. W., Anindyntha, F. A. (2020). Financial banking performance of ASEAN-5 countries in the digital era. Jurnal Keuangan dan Perbankan, 24(1), 117-130.DOI: https://doi.org/10.26905/jkdp.v24i1.2641

A comparative study of the efficiency of conventional and Sharia insurance in Indonesia Ulansari, Dewi Rekno; Septiarini, Dina Fitrisia
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.v24i2.3165

This study aimed to analyze the value of efficiency and the comparison of efficiency ratio in conventional insurance companies and Islamic Sharia Business Unit (ISBU) of Sharia insurance, both life and general insurance, in Indonesia from 2011-2018. The input variables used are total capital and total expenses. While the output variables in this study were total income. The method used to obtain efficiency value for each insurance industry was Stochastic Frontier Analysis (SFA). The result of efficiency value from the conventional insurance companies and ISBU Sharia insurance would be compared by using independent sample t-test statistic tests. The population in this research was all conventional insurance companies, both life and general, and all life and general insurance of ISBU Sharia insurance that registered in the web of Financial Services Authority (FSA). The sample used was 28 conventional insurance companies consisting of 21 life insurance companies and seven general insurance companies, and 12 ISBU Sharia insurance consisting of nine Sharia life insurance and three Sharia general insurance. This research resulted that there was no difference in efficiency value between conventional insurance companies and ISBU Sharia insurance.JEL Classification: C73, G22, L15Â How to Cite:Ulansari, D. R., Septiarini, D. F. (2020). A comparative study of the efficiency of conventional and Sharia insurance in Indonesia. Jurnal Keuangan dan Perbankan, 24(2), 202-213.DOI:Â https://doi.org/10.26905/jkdp.v24i2.3165

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