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INDONESIA
Jurnal Keuangan dan Perbankan
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Core Subject : Economy,
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Articles 784 Documents
The Short-Term Influences of Covid-19 Pandemic on Indonesia Stock Exchange Syahfiraputri, Khairunnisa Nadhifah; Prasetiowati, Rr; Hersugondo, H
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.v25i3.5796

Abstract

This study aimed to discern the short-term influences of the Covid-19 pandemic on the Indonesia Stock Exchange. The stocks from nine industries in Indonesia Stock Exchange were putting to use in this study. In this study, the short-term cumulative abnormal return was calculated by applying the data taken from 59 days of trading after the confirmation notice of the first Covid-19 case in Indonesia. The result of the study depicted a Return in the event window (+1,+9) dropped drastically, which later bounced back; There was no cumulative abnormal return in the pre-event, and Cumulative abnormal return started to appear during event and post-event.DOI: 10.26905/jkdp.v25i3.5796
The Role of Good Corporate Governance to Fraud Prevention: An analysis based on the Fraud Pentagon Rohmatin, Binti Lailatur; Apriyanto, Gaguk; Zuhroh, Diana
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.v25i2.5554

Abstract

This study aims to analyze the relationship between the causes of fraud, good corporate governance, and fraud. This study is a descriptive study tested using logistic regression analysis. This study used 27 samples of banking companies from 44 banking companies during 2016-2019, so there were 108 observations. This analysis shows that competence and opportunity have a significant positive effect on fraud, but rationalization, pressure, and arrogance have no effect on fraud. This research also revealed that good corporate governance could minimize the influence of opportunity and rationalization on fraud, but good corporate governance strengthens the competence Impact on Fraud. Meanwhile, pressure and arrogance are not moderated by good corporate governance. DOI :  https://doi.org/10.26905/jkdp.v25i2.5554
Value at risk estimation of exchange rate in banking industry Siti Saadah; Marsiana Luciana Sitanggang
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.v24i4.4808

Abstract

More integrated financial sector has made market risk arising from volatility of exchange rate critical for banking industry. In attempt to mitigate such risk, this study aims to measure risk from IDR/USD exchange rate movement using value-at-risk method by comparing results of estimates using standard and asymmetric generalized autoregressive conditional heteroscedasticity models. Using data on the daily exchange rate of IDR to USD between July 31, 2018 and July 31, 2019, this study found that the asymmetric exponential GARCH using generalized error distribution is the best approach to estimate exchange rate risk. Results of the estimate suggest that standard GARCH model generated a more conservative measure of risk than value-at-risk estimated using exponential GARCH model. Value at risk can be one of the risk indicators for risk managers in banks. The choice of a model is likely to depend on the attitude to risk itself. Risk averse character who does not like risk will choose the most conservative method in calculating the VaR. JEL Classification: E44, G4, G11DOI: https://doi.org/10.26905/jkdp.v24i4.4808
Time-varying Integration of Stock Markets from Global and Regional Perspective in Asia-Pacific Hayun Kusumah; Marwan Asri; Kusdhianto Setiawan; Bowo Setiyono
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.v25i3.5822

Abstract

This study investigates the time-varying integration of stock markets from a global and regional perspective, the consequences of two major global financial crises, i.e., the Asian Financial Crisis and the subprime mortgage, and the Crisis triggered by COVID-19. We contribute to the growing amount of literature on market integration, especially on the role of regional to global market integration. Although regional integration encourages an acceleration of global integration, the effect of a regional factor is not uniform among regions. It is important to understand regional to global market integration and the consequences during the crises. This study employs time-series data from economic territories based on the Morgan Stanley Capital International (MSCI) Asia-Pacific classification. It introduces an alternative measurement of time-varying integration by considering the correlation of regional and global markets using a simple international model, equivalent to the capital asset pricing model (CAPM). The result shows that the market integrations are time-varying both globally and regionally. The domestic markets are affected by the global market and its regional market, as the role of a regional market emerges during the financial crisis period. We find the different responses of stock markets during the Covid-19 period as a dominant factor to exacerbate the market return globally. In the long run, the upward trend for the regional market integration in both developed and emerging markets is inherent to the global market integration.DOI: 10.26905/jkdp.v25i3.5822
The effects of financial health and company characteristics on Integrated Reporting Nurkholis Nurkholis
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.v24i4.4297

Abstract

Integrated Reporting up to now is still prepared voluntarily, so that there are still very few companies that implement it. Using secondary data obtained from published annual financial statements of 20 state owned enterprises (SOE’s) from 2012-2018 (140 pooled observations), this study aims to predict the effect of financial health indicators and company characteristics related to company’s size, age, and type of industry on the extent of Integrated Reporting disclosure of SOE’s listed in the Indonesia Stock Exchange (IDX). Through descriptive and inferential statistic performed, this study provides empirical evidence that indicators of financial health and the size of companies have negative effects on the extent of Integrated Reporting disclosure. Variables of age and type of industry do not affect the extent of Integrated Reporting disclosure. These results indicate that, in line with signaling theory, the lower the level of financial health and the smaller the size of the company, the more likely that the company will try to further increase the extent of disclosure in its Integrated Reporting. JEL Classification: G32, M41 DOI: https://doi.org/10.26905/jkdp.v24i4.4297
Information and Communication Technologies (ICTs) Adoption by MSMEs and Local Poverty: An Empirical Evidence from Indonesia Hanggraeni, Dewi
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.v25i2.5343

Abstract

This paper aims to examine a relationship between the adoption of Information and Communication Technologies (ICTs) by Micro, Small, and Medium Enterprises (MSMEs) and local poverty in Indonesia. Previous literature has shown that the adoption of ICTs is a significant catalyst to increasing a nation’s productivity from a macroeconomic perspective. This has imposed a new debate among researchers whether the adoption of ICTs can contribute to a more specific economic development goal: reducing poverty. Some researchers argue that the means of a broader economic development can be obtained through the informal sectors, MSMEs. Therefore, this paper argues that in order to find a more satisfactory result, the role of ICTs adoption in reducing poverty needs to be examined from within a more specific economic agent—the MSMEs. To test the hypothesis, we run OLS regression models with province and year fixed effects on our MSMEs survey data and local poverty measures. The results show a robust, negative relationship between the adoption of ICTs by MSMEs and the number of poor populations in the corresponding region, controlling other factors. DOI : https://doi.org/10.26905/jkdp.v25i2.5343
The Impact of Founder’s Financial Behavior Traits and Literacy on SMEs Performance: Empirical Evidence from SMEs in Indonesia Nakita Gusman; Subiakto Soekarno; Isti Raafaldini Mirzanti
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.v25i3.5799

Abstract

This research focuses on the SMEs development evaluation of the impact of founder’s financial behavior, measured by behavioral characteristics of CEOs capacity for self-awareness, planning, and patience, also their knowledge about financial understanding which affect the ability to manage their performance of SMEs. The purpose of this research is to analyze and reduce the rate of failure of SMEs in Indonesia by pursuing the defined determinants from their behavioral traits and self-knowledge on financial understanding in decision making. This study uses a survey conducted across Indonesia, mainly on Java island, with the sample size of 482 SMEs. This research uses multivariate regression analysis as a tool for measuring the impact of founder’s financial behavior variables and financial literacy variable for SMEs performance as a dependent variable. DOI: 10.26905/jkdp.v25i3.5142
Gender on Board and the Impact to Firm Performance through Innovation as Mediating Variable: Evidence from Indonesian non-Financial Firms Hasina, Zahwaril; Bernawati, Yustrida
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.v25i2.5462

Abstract

This study examines the effect of gender on board on firm performance in Indonesia through innovation as mediation. The independent, dependent, and mediating variable used in this research is the gender of the board of directors, firm performance, and innovation. This analysis uses Indonesian non-financial firms that perform any innovation activities and are listed on the Indonesian Stock Exchange in 2009-2019 as our sample. The method used in this study is the quantitative method and processed by using SPSS tools to test the hypothesis. The results showed that gender onboard has no effect on firm performance directly but positively affects innovation. Meanwhile, innovation has a positive effect on firm performance. Then gender on board has a positive impact on the firm performance through innovation as the mediation variable. The novelty of this research is to add an innovation variable to clarify the effect of gender on board to the firm performance. This research can be used to consider companies and other policymakers to determine the board in the company.DOI : https://doi.org/10.26905/jkdp.v25i2.5462
Local banking structure and firms’ performance: Evidence from Indonesia Rosita Mei Damayanti; Putra Pamungkas
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.v24i4.4800

Abstract

This study investigates the relationship between financial development and firm’s performance. Our unique dataset allows us to identify different source of finance, whether it is from formal (commercial, rural, and sharia bank) or other sources. Using provincial and firms level data of 33 provinces in Indonesia over the period 2007-2013, we find that lending has a positive relationship on firm’s performance. The effect is different depending on the level of economic development and size of the firm. The lending from commercial and rural bank is positively correlated with the firm's performance in developed region. However, in less developed region, rural bank has a negative relationship on the firm’s performance. Lending from commercial, rural, and sharia bank positively linked with the performance of small, medium, and large firm’s performance. Improving and promoting lending to firms will accelerate firm’s performance. Firms might also take consideration to find the source of finance other than banks. JEL Classifications: G21, G32DOI: https://doi.org/10.26905/jkdp.v24i4.4800 
Female in board and earnings management: Evidence in Indonesia non-financial firms Sofian Sofian; S, Patricia Febrina Dwijayanti; Hendra Wijaya
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.v24i4.4230

Abstract

The purpose of this study is to analyze the effect of females on the board on earnings management in Indonesia's Non-Financial Firms. Females on the board comprise of females in the board of commissioners, females in the board of directors, and females in the audit committee. This study also breakdown the full sample into small, medium, and large firms. The sample of this study consists of 291 non-financial firms listed in the Indonesia Stock Exchange over the period 2015-2017. This study measures earnings management using discretionary accruals. The data were analyzed using panel data regression. This study found that females in the board of commissioners, females in the board of directors, and females in the audit committee do not affect earnings management. This study also found that females in the board of directors in small firms have a positive effect on earnings management and have a negative effect on medium firms. This study contributes to the role of females in corporate governance in Indonesia's non-financial firms to reduce earnings management. JEL Classification: G34, M41DOI: https://doi.org/10.26905/jkdp.v24i4.4230

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