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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
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Could Size Moderate Managerial Ownership, Institutional Ownership, and Audit Quality of Tax Avoidance Occurs in Southeast Asia’s Banking? Dinda Rahmatur Melyaningrum; Supriyati - Supriyati; Dewi - Murdiawati; Kadek Pranetha Prananjaya
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8372

Abstract

This study aims to determine the effect of managerial ownership, institutional ownership, and audit quality on tax avoidance and to determine the role of firm size as a moderator in strengthening or weakening the influence of the three independent variables on tax avoidance. The population used in this study is the financial statements and annual reports of banking companies in Southeast Asia which are available on the stock exchange sites of each country and the official websites of related companies in the 2015-2019 period. The sampling technique is used a purposive sampling method with the final result of as many as 144 units of analysis. Analysis of the data used is Multiple Linear Regression Analysis to determine the independent influence variables on dependence and Moderation Regression Analysis to determine the role of moderating variables. The result shows that managerial ownership and audit quality do not affect tax avoidance, while institutional ownership can negatively affect tax avoidance. Moderation analysis shows that firm size can affect independent institutional ownership variables and audit quality on tax avoidance. However, managerial ownership does not affect tax avoidance.
Digital Banking Balanced Scorecard Diana Frederica; Yvonne Augustine
Jurnal Keuangan dan Perbankan Vol 26, No 3 (2022): JULY 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i3.7940

Abstract

The study aims to find reliable banking performance indicators by developing the concept of a balanced scorecard. The research employs the method of literature review and measurement quality testing through validity and reliability tests using SmartPLS 3.0. The study found 21 indicators known as Digital Banking Balanced Scorecard. The theoretical implication of this research is that the development of the concept of balanced scorecard has four perspectives and 21 indicators. The contribution of this research is that the banks may take the Digital Banking Balanced Scorecard measurement to assess their performance, especially for those that have implemented banking digitalization. To ensure continuity of bank’s operation, the management needs to perform an analysis on performance required for a strategic decision making. The accurate measurement or reliable indicator for banking performance is, therefore, needed, so that the company management can make decision on the basis of the company's real conditions in the current digitalization era.
Effect of CEO Compensation on Corporate Tax Avoidance (CTA) and Role of Audit Quality as Moderation Variable Kadarisman Hidayat
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8705

Abstract

This research aims to investigate the influence of CEO Compensation on Corporate Tax Avoidance (CTA) and examine the role of Audit Quality (AQ) as a moderating variable that can increase the influence of CEO compensation on CTA. This study employed quantitative research by moderated regression analysis (MRA) with the STATA program, and this method used the annual report of firms listed on the Indonesian stock exchange from the 2018-2020 period with a sample of 195 firms. The results showed that CEO compensation influences CTA as measured by DER. That is, the higher CEO compensation made the company can improve CTA. The results of this research also show that Audit Quality (AQ) as a moderation variable is proven empirically able to decrease the influence of CEO compensation on CTA.
The Influence of Government Information and Response Related to COVID-19 in Indonesia Stock Market Agus Diemas Prayoga; sung suk kim
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8173

Abstract

COVID-19 is a global health pandemic that is currently sweeping the world and had huge impact on the world economy. Currently, all countries, including Indonesia, are paying attention to how the development of this pandemic is, as evidenced by the many media that inform the development of the pandemic and the response given by the government in overcoming it. This study was conducted with the aim of investigating how the influence provided by government information and policies related to COVID-19 on returns and stock volatility in Indonesia. Empirical findings from this study show that information on the COVID-19 pandemic (GSVI Covid), the number of positive cases, death rates, and the government tightening index during the pandemic, seem to have a negative effect on stock returns and vice versa have a positive effect on volatility. Meanwhile, with the information on the COVID-19 vaccine (GSVI Vaksin), fiscal policy in the form of growth in government spending, as well as monetary policy in the form of growth in the money supply is said to have a positive influence on stock returns, as well as reduce excessive volatility in the market.
Corporate governance and leverage on firm value: Evidence of Indonesian large firms Perdana Wahyu Santosa; Any Setianingrum; Chadra Yusuf
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.7664

Abstract

This paper aims at the nexus of corporate governance, leverage, and firm value of selected Indonesian large firms in the 2014-2019 period. Specifically, the study is concerned about the effect of independent commissioner board size, institutional ownership, and audit committee size as proxies of corporate governance on firm value. The controlling variables are leverage and firm age. Panel regression analyzed secondary data collected from the LQ-45 index at Indonesia Stock Exchange firms as the large firms. The findings show that institutional ownership positively impacted firm value. However, the independent commissioner and audit committee exerted insignificant influence. The study results further showed that firm age and leverage significantly negatively impact firm value, respectively. Decisively, findings from this paper reflect that corporate governance positively influences firm value significantly. The study recommended that corporate governance dynamics in firms be empowered and re-examined, especially the audit committee's effectiveness. Both firm age and leverage do not affect productivity and firm value. The audit committee's role is more than optimal in carrying out the supervisory and control functions of the corporate management so that the responsibility of the management is considered transparent and results in an increase in shareholder trust. It is also recommended that the increase in firm age and excessive leverage be balanced with the creation of innovation and productivity of large firms.
Exchange Rate, Stock Return, and Bond Return in Indonesia: An ARDL Approach Ghazali Syamni; Sawitri Sawitri; Rizal Ansari; Rasyimah Rasyimah; Husaini Husaini
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8398

Abstract

The purpose of this research is to investigate the relationship between the Indonesian exchange rate, stock return, and bond return. This study uses time series data in monthly frequencies from sources Thomson Reuters and Bank Indonesia during the period January 2010 to December 2020. This paper uses quantitative research by employing the Autoregression Distribution Lage (ARDL) approach to analyze the causal relationship between variables in this study. According to the results of the ARDL estimation, changes in exchange rates were inversely related to stock returns. Various findings were also found, demonstrating that changes in exchange rates were positively related to bond returns. Stock and bond returns, on the other hand, were inversely related. According to this study, when there is uncertainty in the stock market, investors would rebalance their portfolios. When investors move their money to safer places or safe havens, this is known as the "flight to quality" phenomena.
Does CSR increase cost stickiness? Ika Kristianti; Etna Nur Afri Yuyetta
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8980

Abstract

This study aims to provide evidence of corporate social responsibility (CSR) engagement with cost stickiness. Cost stickiness is an asymmetrical cost behavior in which the magnitude of the increase in costs tends to be higher when there is an increase in activity compared to the decrease in costs when there is a decrease in activity. The pattern of changes in costs depends not only on the size of the activity but also on the direction of the change. The research hypothesis states that the involvement of CSR requires the long-term commitment of the company in value creation activities, so it is difficult to suppress committed resources instantly. This study uses employee welfare costs and donations as a proxy for CSR. The research sample is a manufacturing company in Indonesia, with the observation year of 2017–2020. The results of the study prove that there is cost stickiness in selling, administrative, and general costs, and the degree of cost stickiness increases when CSR costs are added to the research model. The results also confirm that changes in activity levels and changes in costs are not always the same. These findings provide new evidence for understanding how CSR affects cost stickiness in manufacturing firms.
The time horizon of corporate governance effect on firm performance: a study of Indonesia financial industry firms Ella Rahayu; Yie Ke Feliana
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8524

Abstract

Corporate governance is still an important issue today because poor governance can be the cause of business failure. Therefore, good governance is needed to maintain business sustainability. This study aims to examine and analyze the effect of corporate governance, namely the board of commissioners, audit committee, and risk monitoring committee on the company's current and long-term performance. In addition, the corporate secretary is added as a variable that moderates the influence of the board of commissioners on firm performance. The object of research is financial firms listed on the IDX in 2017-2020. This study found that a qualified corporate secretary can positively moderate the proportion of independent commissioners on the company's current and long-term performance. Audit committee qualifications have a significant positive effect on current and long-term performance. The meeting of the risk monitoring committee has no effect on the firm's performance for the current year but has a significant positive effect on the firm's long-term performance. Considering these results, this study suggests that companies should implement good governance today because it has an impact on firm performance in the future. 
Dynamics Analysis of Credit Transmission on Foreign Bank Penetration in Indonesia Mahjus Ekananda
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8829

Abstract

Studies explore mode penetration bank foreign in transmission credit channel in Indonesia. ARDL-PMG is used for analyzing Office Bank branch Foreign (FOB) and Foreign Acquired Banks (FAB) on data panel bank-level, using the BI-7DR Days Reverse-repo rate and JIBR as monetary policy indicators. This study uses data on individual banks classified as FBO and FAB in Indonesia. The use of the ARDL-PMG model as an alternative to solve dynamic heterogeneous panels on credit channel problems in Indonesia. The main finding of this study proves that FBO and FAB show different credit channel transmission mechanisms in response to monetary policy. Studies also show that monetary policy contraction significantly impact towards FBO and FAB in Indonesia in the long-run. This studies due to the characteristics of Foreign Bank Branch Offices that are risk averse and have higher liquidity and Foreign Acquired Banks with higher capitalization. This characteristic causes the impact of contractionary monetary policy insignificant on FBO credit growth and FAB. The research has implications for financial and banking authorities to improve supervision over credit transmission at FBO and FAB due to differences in credit channel transmission mechanisms in response to monetary policy.
The Effect of COVID-19, Commodity Prices, and Exchange Rate on Indonesian Stock Market Almira Intan Nurrahma
Jurnal Keuangan dan Perbankan Vol 26, No 4 (2022): OCTOBER 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i4.8245

Abstract

The purpose of this study is to examine the impact of COVID-19, exchange rate, and commodity prices on the performance of stock markets, focusing on the Arbitrage Pricing Theory (APT) and behavioral influence of the sentiment due to COVID-19. To accomplish this, search volumes compiled by Google Trends on the topic of COVID-19 were used as a proxy for COVID-19 sentiment. The results from applying a panel data approach, using a data set of 35 stocks listed LQ45 index, for the period January 1, 2020, to December 31, 2021, showed that COVID-19 cases and exchange rate have a negative effect on the stock markets. Conversely, commodity prices positively affect the stock markets. However, the estimation fails to reflect the significant impact of the COVID-19 sentiment on stock markets, but it has a positive effect on stock markets. This result implies that (1) higher COVID-19 cases are still a source of weakness in the Indonesian stock market, (2) Positive sentiment suggests that Indonesian investors are more optimistic throughout the pandemic period.

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