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INDONESIA
Jurnal Keuangan dan Perbankan
Published by Universitas Merdeka Malang
ISSN : -     EISSN : -     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Arjuna Subject : -
Articles 784 Documents
 65   66   67   68   69 
Earning Quality Effect on Stock Returns: GCG and CSR Mechanism Permata Sari, Diah; Setiyawati, Hari
Jurnal Keuangan dan Perbankan Vol 25, No 2 (2021): April 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i2.5528

Abstract

This study explores the effect of corporate governance mechanisms and disclosure of corporate social responsibility on earnings quality and the effect on stock returns. The mining sector research analysis is indexed on the Indonesia Stock Exchange for the period 2014 to 2018. The research method used is causal research, with the analysis method used is multiple linear regression. The sampling technique used purposive sampling. The results showed that Managerial Ownership, Institutional Ownership, Independent Commissioners, and CSR disclosure did not affect earnings quality, while the Audit Committee and Stock Returns significantly affected earnings quality. This study's findings contribute to financial performance, particularly the relationship between corporate governance, CSR disclosure, and earnings quality. These findings can be a consideration for investors in making policies on their investments. DOI : https://doi.org/10.26905/jkdp.v25i2.5528
Board Characteristic and Financial Restatement Putri, Ni Ketut Wahyu; Rustiarini, Ni Wayan; Dewi, Ni Putu Shinta
Jurnal Keuangan dan Perbankan Vol 25, No 3 (2021): Juli 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i3.5883

Abstract

This study explores the role of board characteristics, namely the Board of Directors (BoD) and the Board of Commissioners (BoC), on the possibility of financial restatement. BoD characteristics were analyzed based on BoD size, female, and overconfidence. Meanwhile, BoC characteristics were analyzed based on BoC size and independent BoC. The population is all manufacturing companies on the Indonesia Stock Exchange for the 2017- 2019 period. Determination of the sample using the purposive sampling method. The number of samples used is 32 manufacturing companies or 96 observational data. This study using logistic regression to hypotheses testing. The results showed that two variables, namely female of BoD and independent of BoC, reduced the possibility of financial restatement. However, three other variables, including BoD overconfidence, BoD size, and BoC size, do not affect the possibility of financial restatement.DOI: 10.26905/jkdp.v25i3.5883
CSR Spendings of Indonesia's IPO Prospectuses Zuraida, Zuraida; Sugianto, Sugianto
Jurnal Keuangan dan Perbankan Vol 25, No 2 (2021): April 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i2.5559

Abstract

To raise large amounts of capital, companies usually conduct Initial Public Offerings (IPOs), which allows them to reach large numbers of potential investors. Prospectuses are used to inform the public of the nature and prospects of these offers. The prospectus contains financial and non-financial information such as Corporate Social Responsibility (CSR) spending. However, the level of disclosure is usually not uniform across companies. This study examines the nature and factors influencing CSR spendings disclosed by Indonesian companies in the prospectuses for the period 2012 - 2019. Research data was hand-collected and analyzed using descriptive statistics, Pearson correlations, and multiple regressions. The findings show that most companies disclose CSR efforts; fewer companies reveal the amount spent on CSR activities. Among companies disclosing CSR spending, more spending is allocated in the years leading to the IPO date (y) compared to previous years. Thus spending on y is relatively higher than y-1, follows by y-2 and y-3. CRS spending has a positive and significant relationship with company size. These findings are consistent across alternative model specifications. This study made an essential contribution to the CSR literature by providing Indonesia's first empirical evidence on the CSR expenditure in IPO prospectuses. DOI : https://doi.org/10.26905/jkdp.v25i2.5559
The impact of gender diversity in the boardroom on banks performances Siti Farhana
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.v24i4.4676

Abstract

This research examined the impact of gender diversity in the boardroom on firm performance using banks listed on the Indonesia Stock Exchange (IDX) in the period from 2011 to 2016. Indonesia listed companies have a two-tier board structure that consist of management and supervisory board. In addition, listed companies should establish a committee board that consists of independent directors from outside the company. Thus, we investigate the gender diversity from each boardroom namely management, supervisory, and committee board. Gender diversity is measured by the Blau Index while bank’s financial performances are proxied by the Return on Assets (ROA) and Capital Adequacy Ratio (CAR). These two measurements are required by Indonesian Financial Service Authority or Otoritas Jasa Keuangan (OJK). We find that the average proportion of female directors sitting on management, supervisory, and committee board in banks are 16 percent, 9.7 percent, and 14 percent, respectively. Applying panel data analysis with fixed and random effect estimator and also addressing endogeneity issue, we find that there is no significant relationship between gender diversity indexes in each boardroom and both bank’s financial performance ROA and CAR. These findings may shed a light for regulator in Indonesia especially OJK whether they consider imposing gender quota in the boardroom. JEL Classification: G20, M41, M48DOI: https://doi.org/10.26905/jkdp.v24i4.4676
Related Party Transactions, Family Ownership, and Earnings Management in Indonesia Subastian, Levina Ulfa; Widagdo, Ari Kuncara; Setiawan, Doddy
Jurnal Keuangan dan Perbankan Vol 25, No 3 (2021): Juli 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i3.5778

Abstract

The purpose of earnings management practice is to reach the profit goals the company wants to achieve. Therefore, this study aims to determine the relationship between related party transactions and earnings management in Indonesia by balanced panel data from consumer goods companies listed on the Indonesia Stock Exchange (IDX) from 2017 to 2019. The number of samples used in this study was 102 firm-year observations. The results showed that related party transactions positively and significantly improved corporate earnings management, with discretionary accrual as a proxy. The presence of family ownership strengthens the relationship between related party transactions and earnings management. Also, it shows that the control variable: public accountant from BIG4, company size, company losses, and ROA affect accrual earnings management. The leverage does not affect accrual earnings management. The study result indicates that family business ownership encourages an entrenchment effect that is detrimental to the company. It is carried out through related party transactions then manipulated by using accrual earnings management practices.DOI: 10.26905/jkdp.v25i3.5778
Volatility Spillover Among Asian Developed Stock Markets to Indonesia Stock Market During Pandemic Covid-19 Panjaitan, Yunia; Novel, Rizky
Jurnal Keuangan dan Perbankan Vol 25, No 2 (2021): April 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i2.5532

Abstract

This study aims to analyze the transmissions of volatility spillovers from China, Singapore, South Korea, and Japan stock markets to the Indonesian stock market and prove an asymmetric effect on spillover volatility. The data retrieved from the stock index of each country in the period 2020. The analytical method used is the Exponential GARCH (EGARCH) specification developed by Nelson (1991). The results of data analysis show that there was no spillover of volatility from the stock markets of China, Singapore, South Korea, and Japan to the Indonesian stock market. The data analysis results also showed an asymmetric effect on the spillover of volatility from the stock markets of China, Singapore, South Korea, and Japan to the Indonesian stock market. DOI : https://doi.org/10.26905/jkdp.v25i2.5532
Capital structure manufacturing companies in Indonesia: In review Trisninik Ratih Wulandari; Doddy Setiawan
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.v24i4.4312

Abstract

This study aims to provide an in-depth overview of the selection of capital structure of manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2015 to 2017. The data of this study were 127 annual reports of manufacturing companies listed on the IDX, divided into three types of industry, namely basic and chemical industries, miscellaneous industries, and consumer good industries. The capital structure ratios used in this study were Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER). It also looked at the ratio of Current Liabilities to Total Debt (CL/TD) and the ratio of Long Term Debt to Total Debt (LTD/TD). The results showed the average DAR of manufacturing companies in Indonesia for 3 years was 45 percent. Meanwhile, the DER rate was 111 percent. The debt of manufacturing companies in Indonesia was dominated by current liabilities compared to long-term debt. The consumer good industries had the lowest DAR and DER levels compared to basic and chemical industries and miscellaneous industries. This study can be used as a basis and overview of the capital structure of manufacturing companies listed on the Stock Exchange for further studies. JEL Classification: G32, L60DOI: https://doi.org/10.26905/jkdp.v24i4.4312 
Investors psychology on the biased investment decision: The mediating effect of extra-motivation to invest Muhammad Zalviwan; Tulus Haryono; Hunik Sri Runing Sawitri
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.v24i4.4837

Abstract

This study aims to prove that individual investors' psychology consisting of positive attitude, affective-self affinity, familiarity, trust, and nationalism affects investment decisions mediated by the extra motivation to invest. The data collected through questionnaires were processed and tested for the validity and reliability of the construct. Respondents in this study are individual investors who use psychological considerations as more motivation to make decisions and 404 questionnaires distributed to individual investors. This study uses Partial Least Square (PLS). It passes the fit and quality indices model criteria to determine the strength of this study's structural model before the hypothesis testing is carried out. We found four psychological variables of individual investors (positive attitude, familiarity, trust, and nationalism) that directly affect investment decisions and indirectly with the mediator of extra motivation to invest. Extra incentive to invest is not influenced by affective-self affinity and does not mediate its relationship with investment decisions. We also found that investors with psychological considerations tend to make biased decisions. Investors show behaviour that is overreaction, overconfidence, and risk tolerance (low risk with high return). JEL Classification: F52, G11, G41DOI: https://doi.org/10.26905/jkdp.v24i4.4837
Board Structure Problem in Aviation Companies: The Relationship of Political Connection and Multiple Directorship on Firm Performance Lestari, Marsya Chikita; Utama, Cynthia Afriani
Jurnal Keuangan dan Perbankan Vol 25, No 3 (2021): Juli 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i3.5892

Abstract

This study analyzes the relationship between the political connection and multiple directorships of aviation companies’ board members and their firm performance. This research will focus on companies in the aviation sector on a broader subsector than previous studies. It will help the shareholder of the aviation companies determine board structure policies and evaluate the implementations conducted so far. This research uses descriptive statistics and regression analysis for the panel data model. Moreover, this study uses a purposive sampling technique secondary data from the aviation company’s annual reports in the Asia continent for the 2016-2020 period. The results show that the multiple directorships negatively affect firm performance in aviation companies while the board’s political connections positively affect firm performance, measured by its Return on Equity (ROE). In contrast, the multiple directorships and political connections do not impact aviation companies' firm performance measured by their Return on Assets (ROA). Overall, this study in the Asia continent asserts the previous study where the political connection positively affects the airline’s firm performance in the US. The result can support the corporate governance practice of deciding board structure in the aviation sectors in Asia in terms of political connection and multiple directorships.DOI: 10.26905/jkdp.v25i3.5892
Factor Influencing Job stress during Covid-19: Empirical Evidence from Bank Syariah Indonesia Masyhuri, Masyhuri; Pardiman, Pardiman; Siswanto, Siswanto
Jurnal Keuangan dan Perbankan Vol 25, No 2 (2021): April 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i2.5537

Abstract

Research on job stress on employees who carry out work from home is rarely studied, so this research is essential considering that Covid-19 impacts the Indonesian Islamic banking industry. This article aims to analyze work-family conflict mediated by an organizational commitment to job stress at Bank Syariah Indonesia employees. The sample was Bank Syariah Indonesia employees who were scattered in several areas in East Java as many as 197 respondents from various branch offices and units. Questionnaires are distributed via google form as direct data collection from respondents. Furthermore, the data were analyzed using structural equation modeling partial least square (SEM-PLS), which was then used to answer the research hypothesis. The results showed work-family conflict affects employee job stress. Work-family conflict affects organizational commitment, organizational commitment has a significant effect on job stress, and organizational commitment mediates work-family conflict on job stress. Implications for further research suggest comparing job stress during the pandemic and after the pandemic. The theoretical contribution of this research supports conflict theory and scarcity theory which says that stress in one role can limit an individual's ability to fulfill other roles, which will lead to work-family conflict. DOI : https://doi.org/10.26905/jkdp.v25i2.5537

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