Sekuritisasi Aset sebagai Peluang Bisnis dan Peningkatan Solvabilitas Perusahaan

Securitization is a recent innovation in asset sales. It involves the pooling and repackaging of loans into securities that are then sold to investors. Securitization was originated in 1970, when the Government National Mortgage Association (GNMA) developed the GNMA pass-through, a mortgage-backed security. Since then commercial banks, savings and loan associations, and various non-deposit-based firms have securitized multifamily and commercial mortgage loans, automobile loans, credit card receivable, various trade receivables, and other types of assets. The benefits from securitization include protection from interest-rate risk, increased liquidity and diversification for original lenders and for investors; a more efficient flow of capital from investors to borrowers. Securitization may enable institutions to attract long-term funds which are more profitable than institutions using conventional tools, and it also provides the originator with a new source of fee income from originating and servicing the securitized assets

Perkembangan Sistem Pembayaran di Indonesia

A payment system is a set of contractual arrangements, operating facilities and technical mechanism used for presentation, authentication, and acceptance of payment orders, and discharge of the resultant financial obligation through the exchange of value between individuals, banks and other entities domestically and cross - border. An efficient, fast, secure and reliable payment system is the most important factor in creating a healthy banking system, which in turn will support economic activities. The development of payment system is different in every country. It depends on the economic system and financial system in that particular country. In Indonesia, Bank Indonesia continually develops the national payment system in order to have a comprehensive and integrated payment system, which is effective, efficient, safe, reliable and bears low risk. Thus, Bank Indonesia is expected to fulfill public needs of transaction, whether small or large transaction, using different method of payments, such as electronic-based method, cards, papers, notes and others

Socially Responsible Investment Sebagai Motif Penerapan Sustainable Corporate Social Responsibility

Socially responsible investment (SRI) usually known as sustainable or ethical or green investment is a new type of investment movement in response to social expectations of investors. Social investors are people who want to improve conditions in society by investing their money in shares or mutual fund from companies that doing their practices in environmental, social and governance issues. Thus, SRI is investing that is mindful of the impact on environmental and society of that investment. It is often described to investors as allowing them "to doll by doing goods”. SRI that integrates environmental, social and governance factors into investment decisions, encourage corporations doing Corporate Social Responsibility (CSR) as a part of their strategic business. CSR is a commonly used term today.CSR is about a sustainable commitment by business to behave ethically and contribute to economic development while improving the quality of life of the community and society and doing environmental preservation. With the globalization of the economy, such issues as environmental degradation and violations of human rights are cause social investors to encourage SRI to grow rapidly. And today's SRI trends in Global Market reveal how SRI is growing in revenue and making Corporate Social Responsibility happen. Therefore, SRI investors had an important role to encourage corporations to improve their practices environmental, social and governance issues as a continuing CSR. Key words: Socially Responsible Investmen

Sekuritisasi Aset sebagai Peluang Bisnis dan Peningkatan Solvabilitas Perusahaan

Securitization is a recent innovation in asset sales. It involves the pooling and repackaging of loans into securities that are then sold to investors. Securitization was originated in 1970, when the Government National Mortgage Association (GNMA) developed the GNMA pass-through, a mortgage-backed security. Since then commercial banks, savings and loan associations, and various non-deposit-based firms have securitized multifamily and commercial mortgage loans, automobile loans, credit card receivable, various trade receivables, and other types of assets. The benefits from securitization include protection from interest-rate risk, increased liquidity and diversification for original lenders and for investors; a more efficient flow of capital from investors to borrowers. Securitization may enable institutions to attract long-term funds which are more profitable than institutions using conventional tools, and it also provides the originator with a new source of fee income from originating and servicing the securitized assets

Perkembangan Sistem Pembayaran di Indonesia

A payment system is a set of contractual arrangements, operating facilities and technical mechanism used for presentation, authentication, and acceptance of payment orders, and discharge of the resultant financial obligation through the exchange of value between individuals, banks and other entities domestically and cross - border. An efficient, fast, secure and reliable payment system is the most important factor in creating a healthy banking system, which in turn will support economic activities. The development of payment system is different in every country. It depends on the economic system and financial system in that particular country. In Indonesia, Bank Indonesia continually develops the national payment system in order to have a comprehensive and integrated payment system, which is effective, efficient, safe, reliable and bears low risk. Thus, Bank Indonesia is expected to fulfill public needs of transaction, whether small or large transaction, using different method of payments, such as electronic-based method, cards, papers, notes and others

Socially Responsible Investment Sebagai Motif Penerapan Sustainable Corporate Social Responsibility

Socially responsible investment (SRI) usually known as sustainable or ethical or green investment is a new type of investment movement in response to social expectations of investors. Social investors are people who want to improve conditions in society by investing their money in shares or mutual fund from companies that doing their practices in environmental, social and governance issues. Thus, SRI is investing that is mindful of the impact on environmental and society of that investment. It is often described to investors as allowing them "to doll by doing goods”. SRI that integrates environmental, social and governance factors into investment decisions, encourage corporations doing Corporate Social Responsibility (CSR) as a part of their strategic business. CSR is a commonly used term today.CSR is about a sustainable commitment by business to behave ethically and contribute to economic development while improving the quality of life of the community and society and doing environmental preservation. With the globalization of the economy, such issues as environmental degradation and violations of human rights are cause social investors to encourage SRI to grow rapidly. And today\u27s SRI trends in Global Market reveal how SRI is growing in revenue and making Corporate Social Responsibility happen. Therefore, SRI investors had an important role to encourage corporations to improve their practices environmental, social and governance issues as a continuing CSR

Struktur Modal Usaha Kecil Sentra Kulit di Sukaregang, Garut

Sentra Pengrajin kulit di Garut sudah dikenal secara nasional, dan merupakan bisnis kebanggaan masyarakat di sana. Namun perkembangannya belum dapat dikatakan memuaskan. Masalah permodalan masih disebut sebagai salah satu faktor kendala. Sementara itu dinyatakan bahwa kementerian UMKM bermaksud membangun UMKM yang kuat dan sehat, diantaranya karena kemampuan UMKM dalam mengumpulkan modal sendiri/ekuitas dan meningkatkan manfaat penggunaan hutang/pinjaman.Populasi penelitian ini adalah pengusaha (skala kecil-mikro) Sentra Kulit-Garut, sementara digunakan purposive sampling dengan 32 pengrajin. Teknik pengumpulan data adalah focus group discussion dan survei dengan menggunakan quesioner. Maksud dan tujuan penelitian ini adalah memaparkan struktur permodalan secara umum, dan menemukan permasalahan penelitian lanjutannya.Dari penelitian terhadap pengusaha skala kecil-mikro di Sentra Kulit Sukaregang diketahui situasinya : Struktur Permodalan belum optimal (tidak sesuai kebutuhan yang dirasakan) , yaitu 1) akumulasi modal sendiri yang sangat terbatas dan 2) sangat kecilnya proporsi pinjaman-kredit yang telah dimanfaatkan untuk mendukung kelancaran, kontinuitas dan pengembangan usaha. Temuan masalah yang sangat mengkhawatirkan : a)suplier maupun pelanggan masih “sangat enggan” untuk memberikan dukungan permodalan .b) Koperasi, BPR dan Bank Umum telah diketahui dapat memberikan kredit oleh para pengrajin namun kendala tingkat suku bunga dan biaya lain yang tinggi, agunan yang diminta, dan berbagai syarat administrasi menjadi faktor yang menghambat mereka untuk mendapatkan pinjaman.c) dampak dari cukup banyaknya pengusaha menengah yang tidak dapat mengembalikan kreditnya dengan baik , maka para pengrajin di sentra ini telah mendapat istilah “Black List” dari beberapa Bank , menyebabkan kesempatan bagi pengusaha skala kecil ini hampir mustahil untuk mendapatkan pinjaman dengan bunga dan biaya yang wajar, serta tuntutan berbagai persyaratan kredit lainnya

Indeks Sri-kehati dan Reaksi Harga Saham Emiten terhadap Pengumuman Indeks Sri-kehati (Studi Kasus pada Indeks Sri-kehati)

Sustainability Responsible Investment KEHATI indeks merupakan salah satu jenis indeks yang ada di bursa efek Indonesia, yang merupakan indikator pergerakan harga saham untuk digunakan sebagai pedoman bagi investor dalam berinvestasi terhadap saham,dimana emiten-emiten yang terpilih masuk kedalam SRI KEHATI indeks merupakan Perusahaan yang memiliki kepedulian pada lingkungan, tata kelola Perusahaan, peduli terhadap masyarakat sekitar dan manusia serta memiliki perilaku bisnis dan etika bisnis yang dapat diterima di tingkat nasional dan Internasional. Pemilihan daftar Perusahaan yang masuk dalam SRI KEHATI dilakukan 2 kali dalam satu tahun melalui proses seleksi yang ditentukan oleh Yayasan KEHATI dan Bursa Efek Indonesia. Menarik untuk diteliti lebih lanjut, mengenai karakteristik Perusahaan yang masuk dan keluar dalam daftar 25 Perusahaan SRI KEHATI Indeks serta manfaat indeks tersebut bagi Perusahaan sendiri. Selain itu penelitian ini juga mengidentifikasi terdapatnya Abnormal Return akibat ditetapkannya emiten/Perusahaan ke dalam Indeks tersebut. Hal ini akan dapat memberi informasi yang bermanfaat bagi investor, Perusahaan dan dunia pasar modal di Indonesia.Penelitian ini dilakukan pada Perusahaan yang masuk dalam daftar SRI KEHATI indeks untuk periode 2009-2013, dengan jumlah total populasi sebanyak 200 Perusahaan. Metode yang digunakan dalam penelitian ini adalah kualitatif dan kuantitatif. Metode kuantitatif dilakukan dengan beberapa tahapan yaitu menentukan return dari setiap saham, menghitung Abnormal Return dengan menggunakan Market Model dan Capital Asset Pricing Model pada periode event Window, menghitung rata-rata Abnormal Return setiap saham serta dilakukan pengujian t-test untuk menguji hipotesis penelitian untuk membuktikan apakah terjadi Abnormal Return pada event window