PENGARUH FAKTOR FUNDAMENTAL DAN NON FUNDALMENTAL PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN

Penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh firm size, leverage, return on equity, institutional ownership dan board independent terhadap kebijakan dividen perusahaan. Penelitian dilakukan pada perushaanperusahaanyang masuk kategori Jakarta Islamic Index (JII) di Bursa EfekIndonesia, dengan periode pengamatan mulai tahun 2004 sampai dengan 2012.Metode pengumpulan data menggunakan purposive sampling, dan hasilpengumpulan data diperoleh 255 pasang data yang memenuhi kriteria yangditentukan. Hasil penelitian menunjukkan bahwa kebijakan dividen secara positifdan signifikan dipengaruhi oleh return on equity dan firm size. Selain itu, kebijakandividen perusahaan juga dipengaruhi secara negatif dan signifikan oleh board independent. Variabel leverage mempunyai pengaruh negatif dan institusional ownership mempunyai pengaruh positif terhadap kebijakan dividen perusahaan,tetapi pengaruh kedua variabel tersebut tidak signifikan

Board Characteristics and Islamic Bank Performance: The Role of Size as the Moderating Variable - Evidence from Indonesia

This study examines the influence of board characteristics on bank performance with bank size as the moderating variable. The study was performed on Islamic Commercial Bank (BUS, Bank Umum Syariah) in Indonesia for the period of 2010-2019. The samples were 127 BUS-year observations. They were analyzed by applying ordinary least square method and processed with Warp-PLS application. Board characteristics are served as proxy variables with board of directors size, board of directors meetings, and female board of directors while bank performance is served as proxy with Return On Asset. The result conveys that female directors in the board and board of directors meeting have positive and significant influence on Return On Asset. On the other hand, board of directors size shows an insignificant influence. The results also show that size moderates negatively the effect of board of directors as well as board of directors meeting on Return on Asset. However, it is insignificant in moderating the influence of female directors in the board over Return On Asset

PENGARUH GROWTH DAN LEVERAGE TERHADAP PRICE TO BOOK VALUE DALAM MEDIASI RETURN ON EQUITY DAN DIVIDEND PAYOUT RATIO Studi Pada Perusahaan Jakarta Islamic Index Di Bursa Efek Indonesia

This study aims to examine the influence of leverage and growth to price book value, and test the mediation return on equity and dividend payout ratio in the causal relationship. The study population was categorized as a company of Jakarta Islamic Index listed on the Indonesia Stock Exchange in the period 2004-2009. Data collection methods used is purposive sampling. Criteria on the sample used, the company must have positive earnings per share and issued financial statements make it possible to determine the variables of the study. Testing of all hypotheses in this study using path analysis with Amos 16.0 package program. Furthermore, some important findings from this study can be stated as follows: 1) growth does not significantly effect the price to book value, 2) leverage has positive and significant effect on the price to book value, 3) return on equity and dividend payout ratio to mediate the influence growth of the price to book value. However, this study found no evidence that the return on equity mediates the effect of leverage on price to book value.

MEKANISME CORPORATE GOVERNANCE DAN STRUKTUR MODAL YANG DIMODERASI UKURAN PERUSAHAAN SERTA HUBUNGANNYA DENGAN PROFITABILITAS

Penelitian ini bertujuan menganalisis dan menginvestigasi hubungan sebabakibat antara Struktur Modal (leverage) dan profitabilitas (return on equity). Tujuanutama penelitian ini adalah untuk menentukan dan menganalisa dua komponen pentingdalam mekanisme coorporate governance, yakni institusi kepemilikan saham dan dewankomisaris independen yang mengatur keputusan korporasi struktur modal. Studi inimeliputi ukuran perusahaan ( total aset ) sebagai variabel moderat pada pengaruhkepemilikan saham dan dewan komisaris independen terhadap keputusan dari perseroanmodal perusahaan. Penelitian ini dilakukan pada perusahaan yang termasuk dalamJakarta Islamic Index (JII) pada indeks bursa efek indonesia. Dengan pengamatan yangdimulai pada tahun 2003 hingga tahun 2012. Hasil penelitian ini menunjukkan, bahwadalam struktur modal memiliki pengaruh positif dan signifikan terhadap profitabilitasperusahaan. Selain itu, hasil penelitian ini menunjukkan bahwa kepemilikan saham olehinstitusional (institutional ownership) berpengaruh positif dan signifikan terhadap leveldari leverage, sementara dewan komisaris independen memiliki pengaruh positif dansignfikan terhadap level dari leverage. Terlebih lagi, penelitian membuktikan bahwaukuran perusahaan dapat memoderasi secara signifikan, baik pengaruh saham institusipada level leverage serta mempengaruhi dewan komisaris independen pada level leverage korporat. Adanya ukuran perusahaan sebagai variabel yang memoderasi telah mengubaharah koefisien regresi sehingga efek kepemilikan institusional pada level leverageperusahaan, yang tadinya negatif menjadi positif dan sebaliknya

Determinan Non-Performing Loans Pada Sub-Sektor Bank di Bursa Efek Indonesia

This study examines the relationship between corporate governance, macroeconomic factors, and bank-specific factors and the NPL ratio using the sample of all banking sectors listed on the Indonesia Stock Exchange during the period of 2010 to 2019. The data analyzing method used Structural Equation Modeling which was processed by Warp PLS application. The results show that corporate governance measured by board size has a significant positive impact on the NPL ratio while board independence and female board of directors have a significant negative impact on it. However, this study cannot prove the significant relationship between institutional ownership and the NPL. Next, the macroeconomic factors measured by the unemployment rate have a significant positive impact on the NPL. However, again this study cannot prove the significant relationship between GDP growth and inflation rate and the NPL. Then, bank-specific factors measured by bank size and return on equity show a significant negative impact on the NPL ratio while inefficiency has a significant positive impact on it

KARAKTERISTIK DEWAN DAN KINERJA BANK: DENGAN UKURAN KOMITE AUDIT SEBAGAI VARIABEL MODERASI

The purpose of this study was to examine the moderation of audit committee size on the effect of board characteristics on bank performance on the Indonesia Stock Exchange for the 2016-2020 period. The data analysis method used Partial Least Square-Structural Equation Modeling (PLS-SEM) which was processed with Warp-PLS software. The results of the analysis show that the size of the board of directors, independent board of commissioners, and female board of directors has a positive effect on bank performance, both Return on Assets (ROA) and Return on Equity (ROE). Board of directors meeting has a positive effect on ROE, but has no effect on ROA. Furthermore, the results of the analysis show that the size of the audit committee moderates the effect of the independent board of commissioners on bank performance, as measured by ROA and ROE

Analisis Komparatif: Pengaruh Makroekonomi pada Kinerja Reksa Dana Saham Syariah dan Konvensional

This study aims to compare the performance of Islamic stock mutual funds and conventional stock mutual funds with different operating systems so that can be recommended for investors in choosing the type of mutual fund. This study also aims to determine the effect of macroeconomic factors on the performance of these equity funds. The sample used in this study were 5 investment manager companies that issued Islamic stock mutual fund products and conventional stock mutual funds in the 2010-2019 period and were selected through purposive sampling technique. This type of research is quantitative research. The data used is secondary data obtained from OJK published reports. The results of this study indicate that there is no significant difference between the performance of conventional equity mutual funds and Islamic stock mutual funds. In addition, three independent variables in the study, namely inflation rate, exchange rate, and interest rate have a significant effect on the performance of Islamic equity mutual funds. For conventional equity mutual funds, the results show that the inflation rate and interest rate variables have a significant effect, while the exchange rate variable has a negative but not statistically significant effect on the performance of conventional equity mutual funds

PENGARUH GROWTH DAN LEVERAGE TERHADAP PRICE TO BOOK VALUE DALAM MEDIASI RETURN ON EQUITY DAN DIVIDEND PAYOUT RATIO

This study aims to examine the influence of leverage and growth to price book value, and test the mediation return on equity and dividend payout ratio in the causal relationship. The study population was categorized as a company of Jakarta Islamic Index listed on the Indonesia Stock Exchange in the period 2004-2009. Data collection methods used is purposive sampling. Criteria on the sample used, the company must have positive earnings per share and issued financial statements make it possible to determine the variables of the study.Testing of all hypotheses in this study using path analysis with Amos 16.0 package program. Furthermore, some important findings from this study can be statedas follows: 1)growth does not significantly effect the price to book value, 2) leveragehas positive and significant effect on the price to book value, 3) return on equity anddividend payout ratio to mediate the influence growth of the price to book value. However, this study found no evidence that the return on equity mediates the effect ofleverage on price to book value

Pengujian Life Cycle Model of Dividends Sektor Perbankan di Bursa Efek Indonesia

This study examines the Life Cycle Model of Dividends (LCMD) of the banking sector on the Indonesia Stock Exchange (IDX) during the period 2005-2020. This study uses secondary data which was analyzed by logistic regression. The results of this study indicate that the dividend policy of the bank sector on the IDX tends to follow the LCMD. Another important result is that the Capital Adequacy Ratio, which is not a proxy for the LCMD variable, also shows an important role in determining dividend policy for the bank sector on the IDX.   Abstrak Penelitian ini menguji Life Cycle Model of Dividends (LCMD) sektor perbankan di Bursa Efek Indonesia (BEI) selama periode 2005-2020. Penelitian ini menggunakan data sekunder yang dianalisis dengan regresi logistik. Hasil penelitian ini mengindikasikan bahwa kebijakan dividen sektor bank di BEI cenderung mengikuti LCMD. Hasil penting lainnya adalah bahwa Capital Adequacy Ratio, yang bukan merupakan proksi variabel LCMD, juga menunjukkan peranan yang penting dalam menentukan kebijakan dividen bagi sektor bank di BEI

Analisis penentuan model merger-akuisisi yang sinergis di Bursa Efek Indonesia

The aim of this study was as follow: a) to examine the differences in financial performance and the value of the firm before and after the merger-acquisition of go public companies in Indonesia Stock Exchange for the period of 2000-2012;b) to identify and analyze the critical success factors of mergers-acquisitions; c) designing a model of synergistic merger-acquisition. Wilcoxon signed ranks test results showed that the financial performance and the value of the company for certain years are different, in the sense of increased, significantly. The determinant factors of successfull merger-acquisition of 30 synergistic firms, are: a) current ratio and cash ratio was below the industry average; b) debt to asset ratio and debt to equity ratio is above the industry average; c) return on investment and return on equity also above the industry average. Analysis of the 30 synergisticbidders firm shows that the company has a very adequate corporate governance mechanism, namely: a) more than 50% of its stocks owned by other institutions; b) the shares held by the management is below 5%; c) the membership of the board of commissioners and directors have an independent boards and outside directors of more than 30%; and d) the average number of commissioners as many as six people