Faktor Fundamental Makro Dan Skim Bunga Kredit Sebagai Variabel Intervening Pengaruhnya Terhadap Kinerja Bank

This study aim to analysis the effect of macroeconomic fundamental and credit interest scheme to financialperformance of conventional Bank in Indonesia. The operational of dependent variable, by using Capital AdequacyRatio, non-performing loan, net interest margin, return on assets, and loan to deposits ratio. And theothers hand,independent variable are measured by macroeconomics fundamental;i.e.Interest Rate of IndonesianCentral Bank, inflation, and exchange rate of rupiah to US$.Credit interest scheme consist of working-capitalcredit interest rate, investment credit, and interest rate of consumption credit. Sampling technique,using purposivesampling and the number of samples is conventional banks in Indonesia. Data will be analysis 2006-2010monthly. Analysis technique isstructural equation model. The discovery results showed, the macroeconomicfundamental factors have significant to bank performance and dimension of credit interest scheme have role asintervening variable in supporting macro fundamental in influencing to financial performance of conventionalbanking in Indonesia. For represented of variables have any significant in contributed to each dimension can bedescribed, for macroeconomic fundamental, all variable is significant to contribute in factor construct. For creditinterest scheme was too all of variable, and bank performance just Capital Adequacy Ratio and Return on Assets

MEMOTRET KONPLIK ELIT POLITIK DI PEDESAAN

Paradigm shift of the state administration from centralized to decentralized systembring about the distribution of power to all organs of state officials. However, the distributionof power that should be as a means to bring services closer to the beneficiaries in order toimprove the people’s well-being frequently lead to friction between the executive andlegislative not only at the central level but also in local and rural government. The arroganceof power worsened by a lack of firm regulation and low public awareness have made the spiritof decentralization and regional autonomy become meaningless for the improvement ofpeople's welfare

TESTING OF PECKING ORDER THEORY THROUGH THE RELATIONSHIP: EARNINGS, CAPITAL STRUCTURE, DIVIDEND POLICY, AND FIRM’S VALUE

This study aimed to test the pecking order theory through its correlation among earnings dimension, capitalstructure, dividend policy and firm’s value perspective. By loading the correlation between dimension one toanother, it indicated that management behavior tended to retained earnings accumulation or to debt collectionin financing the operation of the firm. The pecking order theory were tested when the management behaviortended to retained earnings in accumulating sources of the fund equity rather than borrowing liabilities fromcreditors. Therefore, rationally if the capital structure was optimum, management tended to external financinguntil any trade off between earnings and debt financing. Based on the testing hypothesis, it indicated that therole of capital structure dimension had significance as intervening variable between earnings dimension andfirm’s value. On the other hand, the dividend policy had no significance to become intervening variable.Empirically, it could be concluded that the management behavior in Indonesia tended to leverage rather thanretained earnings accumulation in supporting the pecking order theory. Furthermore, the variable had the roleto differentiate the characteristic of industries represented by the capital structure dimension, especially, debtto assets and debt to equity ratio