Faktor yang Mempengaruhi Hutang Mata Uang Asing dan Mata Uang Lokal Serta Pengaruhnya terhadap Pendapatan Saham dan Risiko Perusahaan Publik di Indonesia

The purposes of this research are to analyze and to test factors influenced theforeign currency debt and local currency debt, to analyze and to confirm whetherthe separation of foreign currency debt and local debt influence stock return andrisk of companies listing in the BEJ Jakarta, and to analyze and to test thecorrelation between foreign debt and local debt. Path analysis and Amos are usedto analyse the data. The company size is the only variable that influances positivelysignificant to local debt. Operating margin, capital expenditure, tangible asset,foreign sales and foreign cash influence negatively significant to the local debt.While market to book ratio and foreign equity do not significally influence thelocal debt. Foreign sales is the only variable that influences positively significantto the foreign debt. While operating margin, company size, capital expenditure,and real asset influence negatively significant to the foreign debt. However, marketto book ratio, foreign equity, and foreign cash do not significanly influence foreigndebt. This study found out that foreign debt does not significally influence thestock return. However this variable has positif significant to the company riskLocal debt does not influence neither stock return nor the risk. The foreign debtand local debt have negative corelation that means there is substitute corellationbetween them.Keywords: Foreign debt, local debt, stock return, risk, operating margin, companysize, capital expenditure, real asset, market to book ratio, foreign equity

Kinerja Merger dan Akuisisi, Pengalaman Direktur, Usia Direktur, Masa Jabatan Direktur, dan Board Size di Indonesia

Tujuan dari penelitian ini adalah untuk mengetahui pengaruh pengalaman direktur independen  yang akan dimoderasi dengan usia direktur independen, masa jabatan direktur independen, dan board size terhadap kinerja merger dan akuisisi di Indonesia serta dikontrol dengan variabel ukuran perusahaan. Penelitian ini menggunakan  model regresi linear berganda. Data variabel penelitian diperoleh dari laporan keuangan dan tahunan perusahaan pada periode 2009-2019. Variabel dependen yang digunakanpada penelitian ini adalah kinerja merger dan akuisisi yang diukur dengan perubahan ROA dari satu tahun sebelum pengumuman merger dan akuisisi dan satu tahun setelah proses merger akuisisi selesai. Variabel independen yang digunakan dalam penelitian ini adalah pengalaman direktur independen. Variabel moderasi  pada penelitian ini adalah usia direktur independen, masa jabatan direktur independen, dan board size. Hasil penelitian ini menunjukkan bahwa pengalaman direktur independen memiliki pengaruh positif terhadap kinerja merger dan akuisisi, usia direktur independen tidak memperkuat atau memperlemah pengaruh direktur independen terhadap kinerja merger dan akuisisi perusahaan, masa jabatan direktur dan board size mampu memperkuat hubungan positif pengalaman direktur independen terhadap kinerja merger dan akuisisi perusahaan

UNDERSTANDING THE FACTORS OF FINANCIAL INNOVATION IN INDUSTRIAL REVOLUTION 4.0 ERA

Financial innovation is a way of creating new financial products, services or processes effectively and efficiently. This study aims to examine the factors of financial innovation termed as the antecedents and consequences of implementing financial innovation at both micro and macroeconomic levels and to assist future researchers in determining research topics related to financial innovation. This research applies a Systematic Literature Review (SLR) method using 58 relevant articles from the Scopus database, which were examined and became the study results. This study discovers 14 antecedents and 53 consequences to financial innovation since the development of the Industrial Revolution 4.0 era. Even though there are still limitations within this article, this research does provide recommendations for future studies related to financial innovation in the Society 5.0 era

Mengungkap Kendala yang Dihadapi Auditor dalam Mendeteksi Kecuranganan Salah Saji Material pada Laporan Keuangan Historis

Public accounting profession regarding the historical financial statements of the audit work, heavily influenced by the change in the mindset of "Rule Based" to "Principle Based". This provides a very significant challenge for auditors in carrying out his profession. Therefore, research on the topic constraints faced auditors in detecting fraud and material misstatements in the financial statements of historical.This study used a qualitative approach / alternative. This study will explore about the constraints that will be faced by auditors in detecting fraud and material misstatements in the financial statements historically, in connection with the change of mindset of "Rules Based" to "Principle Based". In addition, this study will also reveal ways to overcome the obstacles encountered. The urgency of this research aims to bridge the gab which may arise from changes to these principles, so in turn the results of this study can provide input on relevant organizations (Indonesian Institute of Certified Public Accountants) to narrow the gap through the development and refinement of Certified Public Accountants Professional Standards (SPAP).From the research also found that the Statement of Financial Accounting Standards (SFAS) 30 Revised 2007 was assessed as very far from the target. In fact, the application of these standards could trigger global investment flows into Indonesia. There are still a lot of companies that have not adopted SFAS 30 Revised 2007. Many companies do not understand the benefits of the application of these standards. In fact, the application of this standard will make the company more transparent.Keyword : One Serving Material, Rule Based, Principle-Base

THE COMPETENCY DEVELOPMENT MODEL BASED ON PERFORMANCE ORIENTATION AND TEAM WORK

Competency can be defined as behaviors that were shown from employees who have the potential to work perfect consistently and effectively compared with the potential working averagely. PT. Aneka Regalin-do is a company engaged in manufacturing furniture which to develop a competency model that integrates with benchmark the competency development model in performing their duties and responsibilities effective-ly. The method of this study used is descriptive qualitative. The results of this study explains that the compe-tency development model based on performance orientation and team work can be identified, analyzed and then created a model of competency development relevantly and significantly to overcome the problems of human resources in the rattan unit of PT. Aneka Regalindo

THE COMPETENCY DEVELOPMENT MODEL BASED ON PERFORMANCE ORIENTATION AND TEAM WORK

Competency can be defined as behaviors that were shown from employees who have the potential to work perfect consistently and effectively compared with the potential working averagely. PT. Aneka Regalin-do is a company engaged in manufacturing furniture which to develop a competency model that integrates with benchmark the competency development model in performing their duties and responsibilities effective-ly. The method of this study used is descriptive qualitative. The results of this study explains that the compe-tency development model based on performance orientation and team work can be identified, analyzed and then created a model of competency development relevantly and significantly to overcome the problems of human resources in the rattan unit of PT. Aneka Regalindo

Supply Chain Quality Management Practice Model As an Enabler for Operational Academic Process Toward Excellence Performance: An Explorative Study

The purpose of this research is to develop the supply chain quality management model by identifying the important factors that contribute to the success in implementation of supply chain quality management in the academic business process. This research is exploratory in nature using case study in the supply chain member of study program’s academic process. The approach is by identifying the framework parameter of supply chain quality management. Focus of study is cross-sectional to the member of study program’s supply chain, which includes new student admission centers, head of study program, quality assurance centers and career development centers. The information is collected by in-depth interview and data analyzed from the academic process business document. Data analysis is done by open coding, axial coding, and selective coding, identifying relevant concepts and classifying them into several categories. The whole process of coding is done using NVivo 11 Pro software. The result of the article is in identifying the key elements that support the success of the academic business process of the study program in implementing supply chain quality management and presenting the supply chain quality management model implementation, supported by the essential elements found. This research presents the important input regarding the integration of total quality management and supply chain management implementation of the study program’s operational academic process in higher education. Results of this study are also valuable for other service industries, especially services that have strong involvement between client and server.     Keywords: supply chain management, total quality management, operational academic process, performance measuremen

MEKANISME SURVIVAL DAN POLA REMMITANCES MIGRAN SIRKULER

ecara rinci, tujuan penelitian ini adalah ingin mengetahui. (1) karakteristik sosial-ekonomi migran sirkuler, termasuk tingkat kerentanan dan ketidakberdayaan mereka: (2) Mekanisme survival migran sirkuler dalam mengatasi tekanan ekonomi; dan (3) pola remmitances dari migran sirkuler ke keluarganya yang tinggal di desa. Dalam penelitian ini telah dilakqkan wawancara terhadap 100 responden. Lokasi penelitian ditetapkan di kecamatan Pabean Cantikan dan kecamatan Rungkut. Beberapa ~emuan pokok penelitian ini adalah: (1) Sebagian besar migran sirkuler umumnya laki-laki, berpendidika~ rendah, termasuk berusia produktif, dan umumnya bekerja di sektor informal; (2) Dibanding dengan kehidupan selama di desa, kehidupan migran sirkuler tergolong lebih sejahtara dan tidak terlalu rentan; (3) Ketidakberdayaan migran sirkuIer termasuk tinggi karena mereka hanya menguasai sedikit ketrampilan; dan (4) Higran sirkuler me~iliki kebiasaan menabung yang cukup tinggi dan mereka cenderung mengirimkan sendiri uang ke desa untuk diman~aatkan memenuhi kebutuhan hidup sehari-hari serta untuk investasi pendidikan anak

Competencies in Public Service (Case study : Budget Management in Blimbing Village, District of Gudo, Jombang Regency, Indonesia)

In an effort to the distribution of development and improving public services, the central government issued Law No. 6 of 2014 concerning Village. Villages will give a larger authority to manage their own, one of them is Village Budget management. the central government will give budget transfer about 100.000 USD per year for one village. But there were problems in its implementation. The village apparatuses have not had enough competencies in Village Budget Management. It occured in Blimbing Village. They submitted accountability report of Village Budget realization on March 29th, 2016. Officially they had to submit the accountability reports on the last January 2016. So, they delayed 2 months on submitting an acountability report. Blimbing village was the village with the longest overdue in submitting of accountability report of Village Budget in the district of Gudo year 2015. The purpose of this study is to describe competencies of village apparatuses in Villages Budget management at Blimbing Village, District of Gudo, Jombang Regency. The research method used was descriptive qualitative with case study research strategy. Then the technique of data collection used were observation, interviews and documentation. Furthermore, the technique of validity checking of the data used was triangulation method. Data analysis technique used were 6 stages of qualitative research based on data analysis approach consisted of managing and preparing data, reading the whole data, analyzing more details and recoding the data, applying the coding process, presenting the data, and interpreting data. Based on observation and analysis of data that have been interpreted by theories, the research can be inferred that the apparatus of Blimbing Village have not had enough competencies, especially in knowledge competencies and attitude competencies. Keywords: Competencies in public service, local authonomy, Village Budge

ANALYSIS OF STOCK PRICE INDEX VOLATILITY IN INDONESIA USING MACROECONOMIC VARIABLES AND GLOBAL ECONOMIC UNCERTAINTY INDEX

Stock prices can change within a certain time span can be observed in the volatility of the stock price index. Changes in stock prices can be influenced by a country's macroeconomic conditions and global economic conditions. The macroeconomics observed in this study consisted of interest rates, inflation, exchange rates, and economic growth, while global economic inflation conditions were observed using the Global Economic Policy Uncertainty (GEPU) index. This study aims to examine the effect of macroeconomic variables on the volatility of the stock price index of companies listed on the Indonesia Stock Exchange (IDX) and to change the effect of economic feelings on the volatility of the stock price index of companies listed on the Indonesia Stock Exchange (IDX). A descriptive analysis method was used in this study by utilizing time series data in the time range between the first quarter of 2016 to the fourth quarter of 2021. The results of this study indicate that partially the interest rate has a negative and significant effect on the volatility of the stock price index, while the value of each Global economic exchange and trade partially have a positive and significant effect on stock price index volatility. However, each of the inflation and economic growth variables partially has a positive relationship and does not have a significant effect on the volatility of the stock price index.Stock price changes within a certain period can be observed in the volatility of the stock price index. Changes in stock prices can be influenced by a country's macroeconomic conditions and global economic conditions. Macroeconomic factors include interest rates, inflation, exchange rates, and economic growth, while global economic uncertainty is observed using the Global Economic Policy Uncertainty (GEPU) index. This study examines the effect of macroeconomic variables and the GEPU index on the volatility of the stock price index on the Indonesia Stock Exchange (IDX). A descriptive analysis method was used using time series data between Q1 2016 and Q4 2021. The results indicate that the interest rate has a negative and significant effect on the volatility of the stock price index. In contrast, the value of each GEPU index and exchange rate have a positive and significant effect on stock price index volatility. However, inflation and economic growth have a positive relationship and do not significantly affect the volatility of the stock price index