67 research outputs found
PENGARUH STRUKTUR KEPEMILIKAN TERHADAP NILAI PERUSAHAAN DENGAN MEDIASI LEVERAGE (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia)
Abstract:
This research aims to test and analyze the impact of ownership structure on value of the firm and mediated by leverage in one integrated research model of the manufacturing company of the basic and chemical industry sectors listed on the Indonesia Stock Exchange in 2012-2018. Using a regression analysis tool and a Sobel test to see if the ownership structure has an indirect impact on the value of the firm. The results showed there was a significant negative influence of ownership structures on the company's value. Results also showed significant negative influence over the ownership structure on the leverage, and there was a significant positive influence of leverage on the company's value. The results of Sobel test showed that the leverage variable did not act to impact the indirect relationship of the ownership structure on the company's value.
Keywords: Ownership Structure, Leverage, Value of the Firms.
Abstrak:
Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh struktur kepemilikan terhadap nilai perusahaan dan dimediasi oleh leverage dalam satu model penelitian terpadu pada perusahaan manufaktur sektor industri dasar dan kimia yang terdaftar di Bursa Efek Indonesia tahun 2012-2018. Menggunakan alat analisis regresi dan uji Sobel untuk melihat apakah struktur kepemilikan memiliki dampak tidak langsung terhadap nilai perusahaan. Hasil penelitian menunjukkan terdapat pengaruh negatif signifikan struktur kepemilikan terhadap nilai perusahaan. Hasil penelitian juga menunjukkan pengaruh negatif signifikan struktur kepemilikan terhadap leverage, dan terdapat pengaruh positif signifikan leverage terhadap nilai perusahaan. Hasil uji Sobel menunjukkan bahwa variabel leverage tidak berpengaruh terhadap hubungan tidak langsung struktur kepemilikan terhadap nilai perusahaan.
Kata kunci: Struktur Kepemilikan, Leverage, Nilai Perusahaan.
 
ANALISIS PENGARUH TOTAL ASET, DANA PIHAK KETIGA DAN NON PERFORMING FINANCING (NPF) TERHADAP VOLUME PEMBIAYAAN BAGI HASIL (STUDI KASUS PADA BANK UMUM SYARIAH DEVISA)
The purpose of this research was to determine whether the asset, fund of side the thirth and non performing financing either se parately or toget h er a ffect t h e v ol u me o f p ro fi t s h ari ng fi n anc i ng. T h e o bj ec t of t h i s res e a rc h i s F or e i gn E xc h ange Islamic Bank , which consists of P T . Ban k BNI Sy ari ah , P T. B a nk M e g a S y a ri ah , P T. B ank M u am alat I ndo ne s i a , a n d P T. Sy a ri ah Ma n di ri . T h e d at a we re a n al y s i s by m ul ti p l e l i nea r r e g ression anal ysis with Evi ews 7 i s used as an analysis tool . In this re s ea rc h fou nd m ulticollinea ri ty, s o the cor rection i s done by reduc i ng the asset va riable. The result o f the rese arch s how th at Fun d Of Side The Thi rth af fe c t t h e V ol u me O f P rofi tLos s Sh arin g Fi nanci ng s ignific antl y . Fo r No n Pe rf or min g Fin anc in g was fo und not t o s i gni fi c a ntl y af fec t t h e V ol ume Of P r ofi t A nd L os s S h ari n g F i nanc ing. But as toge the r, both o f variable s affect t he Volume O f P rofit And Loss Sh ari ng Fin anc in g.
ANALISIS PENGARUH TOTAL ASET, DANA PIHAK KETIGA DAN NON PERFORMING FINANCING (NPF) TERHADAP VOLUME PEMBIAYAAN BAGI HASIL (STUDI KASUS PADA BANK UMUM SYARIAH DEVISA)
Pembiayaan dengan skema bagi hasil adalah produk yang memiliki nilai tambah yang lebih dibandingkan dengan kredit yang ditawarkan oleh bank konvensional. Skema bagi hasil merupakan skema yang ditawarkan oleh pembiayaan yang menggunakan akad mudharabah atau musyarakah. Dengan sistem bagi hasil (loss/profit sharing) ini diharapkan adanya keadilan dalam pengelolaan dan pembagian hasil usaha atas usaha yang dijalankan berdasarkan proporsi modal dan keterampilan yang diberikan. Sistem atau prinsip bagi hasil dapat memberikan manfaat lebih luas kepada sektor riil, hal ini mampu memperluas lapangan kerja dan stabilitas ekonomi pada khususnya. Dalam usaha mendapatkan profit, kegiatan penyaluran dana yang dilakukan bank syariah tidak hanya berdasarkan prinsip bagi hasil. Meskipun bank syariah dalam melakukan kegiatan penyaluran dana terdiri dari prinsip jual beli, bagi hasil dan ujroh, namun seharusnya pembiayaan yang dilakukan perbankan syariah sebaiknya harus lebih didominasi oleh pembiayaan dengan prinsip bagi hasil (profit and loss sharing), akan tetapi konsep pembiayaan yang ideal ini sampai sekarang masih sulit dilaksanakan karena penuh dengan resiko dan ketidakpastian. Kondisi ini amat memprihatinkan karena mengingat dasar yang dibangun oleh bank syariah yang mengedepankan bagi hasil adalah ironis bank syariah yang mempunyai tujuan untuk membangun sektor riil tidak berpihak pada sektor tersebut. Penelitian ini bertujuan untuk mengetahui apakah Total Aset, Dana Pihak Ketiga Dan Non Performing Financing (NPF) mempengaruhi Volume Pembiayaan Bagi Hasil baik secara terpisah maupun secara bersama-sama. Sampel pada penelitian ini adalah Bank Umum Syariah Devisa yang terdiri dari PT. Bank BNI Syariah, PT. Bank Mega Syariah, PT. Bank Muamalat Indonesia, and PT. Bank Syariah Mandiri. Penelitian ini menggunakan data sekunder berupa laporan keuangan triwulanan tahun 2010–2013 yang diperoleh dari (www.bi.go.id). Analisis data yang digunakan adalah analisis regresi linear berganda yang diolah dengan alat bantu analisis Eviews 7. Hasil uji Asumsi Klasik menunjukkan adanya Multikolinearitas, sehingga dilakukan prosedur koreksi yakni dengan menambah data sampel menjadi data laporan keuangan triwulanan 2006-2010 dan mereduksi variabel Total Aset. Hasil penelitian menunjukkan bahwa secara parsial variabel Dana Pihak Ketiga memiliki pengaruh yang signifikan terhadap volume pembiayaan bagi hasil dan memiliki arah yang positif, yang berarti semakin tinggi Dana Pihak Ketiga yang berhasil dihimpun maka akan meningkatkan volume pembiayaan bagi hasil. Variabel lainnya yakni Non Performing Financing (NPF) secara parsial tidak memiliki pengaruh yang siginifikan terhadap volume pembiayaan bagi hasil. Penyebabnya adalah data sedikitnya data penelitian yang ada. Tidak berpengaruhnya secara signifikan variabel NPF terhadap volume pembiayaan bagi hasil pada Bank Umum Syariah Devisa bukan berarti tidak adanya sama sekali pengaruh NPF terhadap kebijakan volume pembiayaan bagi hasil bank. Pengaruhnya ada namun tidak terlalu berarti. Hal ini disebabkan karena perkembangan NPF Bank Umum Syariah Devisa mengalami penurunan, dalam arti lain pembiayaan macet yang ada di Bank Umum Syariah Devisa sedikit, sehingga tidak mempengaruhi kebijakan penyaluran dana atau pembiayaan yang dilakukan oleh Bank Umum Syariah Devis
PENGARUH UKURAN PERUSAHAAN, PROFITABILITAS, PERTUMBUHAN ASSET, DAN RISIKO BISNIS TERHADAP STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI PERIODE 2008 - 2012
The aim of this research is to kn ow th e effect fi r m size, profitability, growth of asset and business risk to capital structure. The object of this resea rc h is manufacture compa nies of aut omoti ve and components sector wh ich listed in Ind on e sian St oc k Excha ng fro m 2008 to 20 12 . Eleven ma nufacture company are used as the sample of this research in autom oti ve and components sector. The method of the re s e a r c h is purposive sampling which devine as a sa mple of ta king method which take an object by certain cri teria . Th e amount of sa m p le wh ich requi r e to the criteria are 11 manufacture com p a n y in Indonesian St oc k Exc hang e by using poole d da ta method then resulti ng 55 observation da ta. Data analysi s use linier regression analysis method which initia l by classic asum tion test, whic h is consist of normality test, autoc o relati on test, heterokedastisitas test and multikoleniarity test. The hyp othesis evaluation done by use of F test and t test. Result of data analysis or regression re s u l t showed tha t simultatily the fi rm size, p rofi tab ility, growth of asset and business ri sk are influencia l to capital st ru c t ure . Pa rc ially, the influenc ial variab el to capital struc ture are growth of asset and b usiness risk wh ere as th e va ri a b le of fi rm size and profitability are not influential to capital st ruc t ure . The amount of adjusted R sq uare is 0,21 9 it means 21,9% depend ent variable is capital st ruc t u r e can be explained by fou r independe nt variab le, th ey are firm size, p rofitab il ity, g r owth of asset and business risk, but 78,1% capita l structure explained by other variable outside model.
ANALISIS PENGARUH KURS (USD/IDR), SUKU BUNGA SERTIFIKAT BANK INDONESIA (SBI), INFLASI DAN INDEK NIKKEI 225 TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) DI BURSA EFEK INDONESIA (BEI) PERIODE JANUARI 2004 – AGUSTUS 2013
Pasar modal merupakan salah satu instrumen ekonomi dewasa ini yang mengalami perkembangan sangat pesat. Untuk melihat perkembangan pasar modal Indonesia salah satu indikator yang sering digunakan adalah Indeks Harga Saham Gabungan (IHSG), yang merupakan salah satu indeks pasar saham yang
digunakan oleh Bursa Efek Indonesia (BEI). Tujuan dari penelitian ini adalah menganalisis pengaruh variabel Kurs (USD/IDR), Suku Bunga SBI, Inflasi, dan Indeks Nikkei 225 terhadap IHSG. Metode analisis yang digunakan dalam penelitian ini adalah metode analisis regresi berganda yang dilakukan dengan SPSS 17. Salah satu syarat untuk melakukan uji analisis berganda perlu dilakukan uji asumsi klasik. Hal ini diperlukan agar persamaan regresi yang dihasilkan bersifat BLUE (Best Linear Unbiased Estimator). Selain itu untuk menilai goodness of fit suatu model dilakukan uji F, uji t, dan uji koefisien determinasi. Penelitian ini menggunakan data bulanan dari Januari 2004 – Agustus 2013 untuk tiap variabel penelitian. Setelah dilakukan uji penyimpangan asumsi klasik, hasilnya menunjukkan data
terdistribusi normal dan tidak diperoleh suatu penyimpangan. Hasil dari peneliian ini menunjukkan bahwa variabel Suku Bunga SBI, Inflasi, dan Indeks Nikkei 225 berpengaruh terhadap IHSG. Sedangkan variabel
Kurs (USD/IDR) tidak berpengaruh terhadap IHSG. Selain itu diperoleh bahwa nilai adjusted R square adalah 94,4%. Ini berarti 94,4% pergerakan IHSG dapat diprediksi dari pergerakan keempat variabel independen tersebut
PENGARUH FAKTOR FAKTOR INTERNAL DAN EKSTERNAL PERBANKAN TERHADAP STRATEGI PEMBERIAN KREDIT SEBAGAI UPAYA DALAM MEMINIMALKAN NILAI NPL (STUDI KASUS : BANK BANK YANG BEROPERASI DI KOTA BENGKULU)
The first purpose of thi s study is determining internal and external factors to the influen c e of the banking and le n d i n g strategies and the second is det ermin in g fa ctors of lending strategi es that can mini mize th e value of NPL. Th e research metho d us ed is inferentia l analysis to determine the relations h ip betw een variables and in d i cat o r s , in this step, the method us ed is SEM approach. The va riable inter n al bank amount of inf luence on Lending Strategy was 0.82 , each of the indicators of the Internal Bank as: mastery of tech n ology, Lendin g Requiremen ts, co m p et e n c e Accoun ts Officers , loa n co llecti on, and the involvemen t of s hareholders , ea ch aff ect in g at 0.68 , 0.64 , 0.60 , 0.57 , and 0.51 . External variables influen ce th e magnitude of the Bank Lending Strategies of 0.07 . Each indicator for EB variable effect : geographical factor s (0 .34) , state politica l situation (0.3 2), develo pmen t of the nat i onal economy (0.27), and bank competiti on (0.2 4). Priorities for the prepara tion of Len d ing Strategies: inter es t rate (0.7 2), loan terms (0 .59) , supply of credit (0 . 5 5 ) and Infor mation and Communi cation (0.51).
PENGARUH FAKTOR FAKTOR INTERNAL DAN EKSTERNAL PERBANKAN TERHADAP STRATEGI PEMBERIAN KREDIT SEBAGAI UPAYA DALAM MEMINIMALKAN NILAI NPL (STUDI KASUS : BANK BANK YANG BEROPERASI DI KOTA BENGKULU)
The first purpose of thi s study is determining internal and external factors to the influen c e of the banking and le n d i n g strategies and the second is det ermin in g fa ctors of lending strategi es that can mini mize th e value of NPL. Th e research metho d us ed is inferentia l analysis to determine the relations h ip betw een variables and in d i cat o r s , in this step, the method us ed is SEM approach. The va riable inter n al bank amount of inf luence on Lending Strategy was 0.82 , each of the indicators of the Internal Bank as: mastery of tech n ology, Lendin g Requiremen ts, co m p et e n c e Accoun ts Officers , loa n co llecti on, and the involvemen t of s hareholders , ea ch aff ect in g at 0.68 , 0.64 , 0.60 , 0.57 , and 0.51 . External variables influen ce th e magnitude of the Bank Lending Strategies of 0.07 . Each indicator for EB variable effect : geographical factor s (0 .34) , state politica l situation (0.3 2), develo pmen t of the nat i onal economy (0.27), and bank competiti on (0.2 4). Priorities for the prepara tion of Len d ing Strategies: inter es t rate (0.7 2), loan terms (0 .59) , supply of credit (0 . 5 5 ) and Infor mation and Communi cation (0.51).
EVALUSI KINERJA KEUANGAN BALAI WILAYAH SUNGAI SUMATERA VII PROVINSI BENGKULU
This research was aime d to : (a) evaluate the d evelopment of Ba l a i Wilayah Sungai ABSTRACT Sumatera VII Provin si Bengkulu’s finan cial pe rformance cons ider ed to im plementati on and benefi t aspect of its budget in fi s c al year 2011 – 20 12; and (b) evaluate the develo pmen t of Ba l a i Wilayah Sungai Sumater a VII Pr ovinsi Bengkulu’ s financia l per formance cons idere d to liquidit y and solvency ratio of its financia l report in fi s c a l year 20 11 – 2012. The data that us ed in this research was secondary data from primer source that would get from BWS Sumatera VII Provins i Be n g k u l u which has been audit e d by BPK and also has been an original document in form of RKA KL and financial balance sheet in fis cal year 2011 – 2012. The an a l y s i s tools wer e , firstly; the budget analysis of finan cia l per formance which cons ist of : implementation and bene fi t aspect. Second ly; the financia l ratio analys is which co ns is t of : liquid ity and solven cy ratio. The result of this research con cluded that the financial performance of BWS Sumatera VII in ma naging thei r finance can be said good , both in budget an d financial ratio as pe ct . Financial performance of BW S Sumatera VII can be gathered bas ed on two meth ods, such as: (a ) the meas ure ment of budget ana l ys is, which gathered : in fi s c al year of 2011, th e financial pe r f or man c e of BW S Sumatera VII bein g at the nor ma l position becaus e has be en in th e pe rformance scale of 60 % until 80% , w hile in fiscal year of 2012, the financial perfor ma n ce of BWS Sumater a VII bein g at the normal pos ition be cause has been in the performance scale of 80% until 90 %; (b) th e measure ment of fi n a ncia l ratio analys is, which gathered : in fiscal year of 20 11 and 2 012 , the liquidity ratio which gathered fr om fi nancia l report of BWS Sumatera VII was being in good cate go ry because bot h of year were being in the average standard more than 1 (>1) , while in fi s ca l year of 201 1 and 2012, the solven cy ratio which gathered fr om finan cial repor t of BWS Sumatera VI I was being in good enough category because both of year were bein g in the average standard more of 1 (=1). By this research, it would be better if bu dget an a l ys i s and finan c ia l ratio an a l ys is can be us ed in meas uring the financial pe r f or man c e of BWS Sumater a VII Provinsi Bengkulu. This ma t t e r ca u s e d by both measu r ement can be useful for all side which be con cerned toward BWS Sumatera VII Pr ovinsi Bengkulu to give the clea r direction and co rrect strategy in reaching the vision, mis s ion, purpos e and ob jectiv e of its budget i mplementati on .
English for Tourism Training for Jenggalu Kito Management, Bengkulu City, to prepare International Tourism Destinations
ABSTRACT
The community service activity aims to support the roles and responsibilities of a manager and tour guide in serving visitors from various countries by training their skills in the use of foreign languages, particularly English as a universal language, when carrying out tour guide activities by individual members of the public who are responsible for explaining these tourist destinations to foreign guests using English to facilitate interaction and communication. Another goal is to improve skills in tour guide technique in accordance with minimum competency standards in terms of guiding.
The team's community service activities were well-executed and received excellent feedback from participants/tour management members. This program is intended to improve participants' ability and skills in utilizing English in order to guide international tourists who visit the region. According to the amount of people who came, the participants were highly excited. The conversation was also engaging, with the presenter presenting material in a light, easy-to-understand style and the participants responding with numerous questions.
Keywords: English, for Tourism, Training, Management, Destinasions
The community service activity aims to support the roles and responsibilities of a manager and tour guide in serving visitors from various countries by training their skills in the use of foreign languages, particularly English as a universal language, when carrying out tour guide activities by individual members of the public who are responsible for explaining these tourist destinations to foreign guests using English to facilitate interaction and communication. Another goal is to improve skills in tour guide technique in accordance with minimum competency standards in terms of guiding.
The team's community service activities were well-executed and received excellent feedback from participants/tour management members. This program is intended to improve participants' ability and skills in utilizing English in order to guide international tourists who visit the region. According to the amount of people who came, the participants were highly excited. The conversation was also engaging, with the presenter presenting material in a light, easy-to-understand style and the participants responding with numerous questions.
ANALISIS SAHAM PERUSAHAAN BADAN USAHA MILIK NEGARA (BUMN) DAN NON BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA : DENGAN PENDEKATAN PRICE EARNING RATIO (PER) DAN PRICE BOOK VALUE(PBV)
This s tudy is to identi fy h ow sh are pri c es of s tate o wn ed e nte r p rise and p riv ate e nte rprise liste d at I nd o nes i a St oc k E xch ang e ( I D X) det er mi n ed fai rly b oth b y P ri ce Earning Ratio (P ER ) and P ri c e To B o o k V al ue ( P B V ) ap p ro ac h a nd h o w i ts e ffi c i e nc y . Thresult s how stocks whic h c ons i s te ntl y und e rv al u e d b ot h by P ER a n d P BV a p p ro ac h a r e t wo state-o wn ed s ha re s , n am ely : PT Ban k Mandiri Tbk a n d PT Wijaya Ka r y a Tbk , wh il e there a re fou r p ri vate e n terp rises shares c onsi s tently un dervalue d n amely , PT XL Ax iata Tbk, PT Ban k Da nam on Tbk, PT Petrosea Tbk, an d PT Nic ke l Asia Corp.Tbk. The results al so s howed PT Wijaya Karya T b kan d PT Nic kel Asia Corp. Tbk i s mo re e ffi c i ent th an t he oth er fou r s toc ks und e rvalue d . However, w hen vi e we d from th e a bi l ity to p rodu ce the h i ghe st op erating pro fit a re PT Bank Mandiri Tbk, PT Bank Danamon Tbk followed , PT XL Axia ta Tbk, PT Petros ea Tbk , an d PT Wijaya Ka r ya Tbk a n d t h e l as t i s PT Nickel Asia Corp. Tbk . Ov er al l th e resu lts of th e identi fication of un derva l ued stocks i n the study engag ed i n ba nking, c onstructio n, mi ning and telecommunications sectors
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