Implementation of the Policy for Implementing Online Learning in the Era of the Covid-19 Pandemic at Army Officer Candidate Schools

The Indonesian government has implemented various regulations to suppress the Covid-19 case. The majority of these policies limit mass activities, such as education. Thus, online education policies were initiated via various platforms with the need for access via the internet. However, military education institutions such as Secapa AD require face-to-face interactions and field-based learning to obtain appropriate learning outcomes. Therefore, a special policy was created for Diktukpassus T.A. 2021 which briefly has a quarantine period at the beginning of education. This period was filled with online learning. Various challenges, both external and internal, must arise. This research will reveal the opinions of students and teachers regarding the implementation of online learning using the interview and FGD methods. In the end, the respondents' sentiments led to the choice of studying offline rather than online. However, respondents also felt that online learning had a positive side and room for growth

Strategy Formulation Roadmap Human Capital: Action Research Based Soft System Methodology, Case in PT Angkasa Pura I

Abstract. In the era of war for talent, attracting and retaining the talented people become necessary to gain organization’s competitive advantage. Facing the airport industry in the regional area that become more competitive, PT Angkasa Pura I, try to formulate its key competence called World Class Airport Officer (WCAO). This study aims to formulate strategically within human resources for all PT Angkasa Pura I’s staff. The method of the research is using Soft Systems Methodology (SSM). SSM is implemented with the consideration that the implementation of the Human Capital’s Strategy Formulation is seen as a human activity system, which involves many stakeholders among top executives, Branch Managers, Human Capital Division Head, Training and Development Department Head, Organizational Development Department Head and all employees. The result indicates that management conducted learning process which are systematically desirable and culturally feasible in formulating Human Capital Road Map to achieve WCAO. Furthermore, the competencies of WCAO consists of innovative, professional, collaborative minded, service oriented, integrity and also be proactive.Keywords: Business strategy, soft system methodology, strategic human resource management, strategy formulation, airport industr

Reformulation of the Role of Regional Development Banks as Agents of Regional Catalyst: The Case of Indonesia

Regional development banks (RDB) in Indonesia are constitutionally mandated to be the economic and social catalyst for local development, a role which requires banks to finance ‘unprofitable’ projects. The incompatible functions are resulted in reservations within RDB to maximize their resource allocation potential. This paper is aimed at evaluating RDB’s catalyst role and at proposing a refinement to the current role which would enable RDBs to achieve their expected goals. This research uses descriptive statistics of RDBs’ loan performance from 2012 to 2017 to establish RDBs’ performance in economic and social areas. Accounts included in this research are third-party funds, productive loans, loan deposit ratio and small business loans. It is evident from the secondary data that RDBs have issues in contributing to local economy generator. Next, data from interviews with senior management team of four RDB’s are analysed to identify critical pillars for formulation of RDBs’ role. Referring to Thorne’s and Du Toit’s framework for development banks (2009) the reformulation of RDBs’ catalyst role starts from stipulating their role in an exclusive and well-defined operating environment. This will allow RDBs to synergize their operations with local development programs. From governance and financial performance perspectives, RDBs can prepare efforts to make an initial public offering as part of a strategy for increasing capital, structuring corporate governance, and enhance corporate value

Corporate Governance with the Institutional Theory Approach on Regional Development Banks in Indonesia

Abstract. The purpose of this research paper is to analyze the implementation of corporate governance at the Regional Development Banks, or locally known as Bank Pembangunan Daerah, in Indonesia. The focus of this study is on the role and the position of the governing body or board as well as the relations between governance in micro context and macro condition in the framework of institutional theory. The kind of paradigm that is used in this research paper is the post-positivist paradigm by using mixed methods. To analyze the implementation of corporate governance, this research paper is using several key actors: BOD's Size, Board of Commissioners Size, Board of Independent Commissioners Size, Audit Committee's Size, Block-holder Ownership, Risk Monitoring Committee, and Nomination and Remuneration Committee. The results of this research paper indicate that Bank Pembangunan Daerah merely fulfill the requirements of important tools in the implementation of corporate  governance. In the end, this will influence the manageability of risk management and compliance process. This condition has positioned the importance of the existence of board in the form of both board of commissioners and board of directors in the management and the achievements of the performance of Bank Pembangunan Daerah (BPDs). In the perspective of corporate governance theorizing that is related to the institutional approach, board can be the balancing power in the context of the diversity of agents that display the relationship patterns not only in the micro-level that involve principal, management, and employees, but also in the macro condition such as legal system in the forms of regulations, social and cultural system, and political system in the form of relations between companies and both legislative and executive institutions. This is related to the strong influence of bureaucracy and political institutions that demonstrate the emergence of conflicting objectives and political interference in the management of Bank Pembangunan Daerah. This condition emerges as the consequences of the existence of Bank Pembangunan Daerah as regional-owned enterprises (BUMDs) that has dual functions, namely as a business enterprise that focuses on making profits as well as an agent of regional development and providing services to the public.Keywords: corporate governance, institutional theory, conflicting objective, political interference, regional development banksAbstrak. Penelitian ini menganalisis pelaksanaan corporate governance pada Bank Pembangunan Daerah. Kajian difokuskan pada peran dan kedudukan board serta hubungan antara tata kelola pada konteks mikro dan kondisi makro dalam kerangka pendekatan institutional theory. Penelitian ini menggunakan paradigma post positivs dengan menggunakan mix method. Untuk menganalisis pelaksanaan corporate governance, penelitian ini menggunakan proksi: BOD Size, Board of Commisioner Size, Board of Independent Commisioner Size, Audit Commite Size, Blockholder Ownership, Risk Monitoring Committee, dan Nomination and Remuneretion Committee. Hasil penelitian menunjukkan bahwa Bank Pembangunan Daerah baru sebatas memenuhi ketentuan pemenuhan organ-organ penting dalam pelaksanaan corporate governance. Hal ini pada akhirnya mempengaruhi pengelolaan manajemen risiko (risk management) dan compliance process. Kondisi ini memposisikan pentingnya keberadaan board dalam wujud dewan komisaris maupun direksi dalam pengelolaan dan pencapaian kinerja Bank Pembangunan Daerah (BPD). Dalam perspektif teorisasi corporate governance yang terkait dengan pendekatan institusional, board dapat menjadi kekuatan penyeimbang dalam konteks keberagaman aktor (agent) yang menunjukkan pola hubungan tidak saja dalam tataran mikro yang melibatkan pemilik (principal), management, dan pekerja, tetapi juga kondisi makro seperti sistem hukum dalam bentuk regulasi, sistem sosial dan budaya, dan sistem politik dalam bentuk hubungan antara perusahaan dengan lembaga legislatif dan eksekutif. Hal ini berkaitan dengan kuatnya pengaruh birokrat dan institusi politik yang menunjukkan munculnya conflicting objective dan political interference dalam pengelolaan Bank Pembangunan Daerah. Kondisi ini muncul sebagai konsekuensi dari keberadaan Bank Pembangunan Daerah sebagai Badan Usaha Milik Daerah (BUMD) yang memiliki fungsi ganda yaitu sebagai entitas bisnis yang berorientasi pada pencapaian keuntungan dan juga sebagai agent of regional development dan melayani kepentingan masyarakat.Kata kunci: corporate governance, institutional theory, conflicting objective, political interference, bank pembangunan daera

Bank Indonesia Public Sector Innovation Analysis In The Development Of Qris Cross-Border (Cross-Border Qr Payment Linkage)

QRIS in Public service innovation is a tool or technology that can be used to enhance how public services are accessed, managed, and provided to the public. This research aims to identify the potential and innovation for developing QRIS Cross-border and recommend implementation for QRIS Cross-border cooperation. Researchers implement qualitative research methods with a descriptive approach in an effort to achieve in-depth understanding and describe natural phenomena that occur in accordance with the existing social context. This research assessment is dedicated to limiting research to one or several relevant variables and emphasizing problems related to the existing situation. This research focuses on the problems that exist in cross-border retail payment systems, especially in the context of QRIS, with the aim of collecting data that can be used in research. The research approach used is qualitative, which aims to focus attention on the data to be observed, organize it in detail, and draw conclusions accurately. Thus, this research focuses on Bank Indonesia (BI) Innovation in the Development of cross-border QR payment linkage. Based on the potential for QRIS development for cross-border payments. First, in the short term QRIS Cross-Border has the potential to be used as a Cross Border Payment channel with expanded cooperation, especially with countries that already have QR Standards and Local Currency Transaction (LCT) agreements with Indonesia. QRIS Cross-Border is currently implemented in Malaysia, Singapore, and Thailand. Meanwhile, secondly, in the long term, if the implementation of cross border QRIS is effective, then QRIS Cross-border can become the back bone for Cross-border Payment, especially using the QRIS Cross-border channel with the expansion of services to fund transfers, in addition to purchases

Analisis dan Penilaian Kinerja Portofolio Optimal Saham-Saham LQ-45

oai:journal.ui.ac.id:article/562Portfolio is basically related to how one allocates a number of stocks into various investment typesthat results on optimal profits. By making diversification, investor may reduce the rate of risk and at the sametime optimize the rate of expected return. Based on that, this research raises the problem of how to design anoptimal portfolio simulation, i.e. a combination of liquid shares LQ 45 listed in Jakarta Stock Exchange (Nowis known as Indonesia Stock Exchange, after the merger with Surabaya Stock Exchange) in the period of 2002-2007 by using Single Index Model and Constant Correlation Model. Single Index Model is a model of portfolioanalysis using the account of Excess Return to Beta (ERB) Ratio and value of C* to gain optimal shares onportfolio. The procedure of Constant Correlation Model is exactly parallel to the case of Single Index Model.However, unlike in the Single Index Model, all securities are ranked by Excess Return to Standard Deviation(ERS) instead of Excess Return to Risk. After securities are ranked using the above ratio, securities with greaterExcess Return to Standard Deviation and Cut off Point (C*) are included into the optimal portfolio

The impact of macroeconomic and bank-specific factors toward non-performing loan: evidence from Indonesian public banks

The present study focuses on the need for banking sector to be more reactive when facing globalization that could bring impact on banking industries complexity. Based on empirical studies, there is a need to analyze non performing loan determinants comprehensively using macroeconomic and bank-specific factors to make a good condition on bank, because combining macroeconomic and bank-specific variable as NPL determinants has made a big improvement to analyze NPL. The object of present study is 20 Banks listed in Indonesia Stock Exchange (IDX) between q12005-q42014. Using dynamic panel data GMM-system method shows that the previous period of NPL (non performing loan), change of PDB (Gross Domestic Product) and inflation rate have a significantly negative impact on NPL. However, BOPO (Operations Expenses to Operations Income) and ROE (Return on Equity) has a significantly positve relationship to NPL. On the other hand, this research does not find any significance on BI rate (interest rate), solvency ratio, and size to NPL. From the result, it can be concluded that combining macroeconomic and bank-specific variable could be an alternative method to analyze NPL determinants on bank. Keywords: nonperforming loans, banks, credit risk, globalization, dynamic panel data, banking industries. JEL Classification: G21, E44, E51, E5, F6

The Design of Change in Waste Management Policy: Application of Soft Systems Methodology

Abstract. Municipality of Depok faces complex waste problems. The amount of waste continues to grow with the increasing population and people’s activities. The Local Government has established a policy to deal with the waste problems by applying the Integrated Waste Management System (SIPESAT) since 2006. However, there are some resistances in the implementation of the waste management system. This study aims to give recommendation about policy changes of waste management policy in Municipality of Depok. This research applies soft systems methodology. The use of the hierarchical policy process as proposed by Bromley (1989) indicating the role of institutions that guiding the actors at each level to perform their roles to achieve the integrated waste management system. The Local Government needs to strengthen the policy by changes the waste management policy based on the policy process that are the making of legislation on waste management at the policy level, the arrangement of SOP-UPS and optimizing the roles of Sanitary Task Force at the organizational level and the establishment of public involvement system at the operational level. Keywords: policy change, policy process as a hirarchy, soft systems methodology, waste management, the integrated waste management system Abstrak. Kota Depok menghadapi persoalan sampah yang kompleks. Jumlah timbulan sampah terus meningkat seiring bertambahnya jumlah penduduk dan aktivitasnya. Pemerintah Kota Depok telah menyusun kebijakan untuk menangani permasalahan sampah itu, yaitu dengan menerapkan Sistem Pengelolaan Sampah Terpadu (SIPESAT) sejak tahun 2006. Namun demikian, pelaksanaan kegiatan pengelolaan sampah tersebut masih menemui sejumlah kendala. Penelitian ini bertujuan untuk memberikan rekomendasi desain perubahan kebijakan pengelolaan sampah di Kota Depok. Penelitian ini menggunakan metodologi serba sistem lunak. Penggunaan kerangka proses kebijakan sebagai hirarki yang dikemukakan oleh Bromley (1989a) menunjukkan adanya peran institution atau aturan (kebijakan) yang menjadi pedoman para aktor di setiap level dalam menjalankan perannya sehingga mencapai sistem pengelolaan sampah yang terpadu. Pemerintah Kota Depok perlu melakukan penguatan kebijakan melalui perubahan kebijakan pengelolaan sampah berdasarkan hirarki proses kebijakan tersebut, yaitu penyusunan Perda tentang pengelolaan sampah pada tingkat kebijakan, penyusunan SOP-UPS dan optimalisasi peran Satgas Kebersihan pada tingkat organisasional, dan pembentukan sistem keterlibatan masyarakat pada tingkat operasional. Kata kunci: perubahan kebijakan, proses kebijakan sebagai hierarki, metodologi serba sistem lunak,  pengelolaan sampah, sistem pengelolaan sampah terpadu (SIPESAT

Bond Rating Change Announcement and the Effect on Stock and Bond Return

Abstract. This research uses event study method in order to examine the difference in abnormal returns for stocks (average abnormal return) and bonds (spread yield). The sample used is listed companies in Indonesian Stock Exchange for the period 2007-2011 which issue corporate bonds and have bond rating changes issued by PT Pefindo. The analyses of this research were performed using one sample t test, paired t test, and multiple regression method. The results showed that: 1) There is no significant difference on average abnormal stock returns and abnormal bond returns before the announcement, during the announcement, and after the announcement of bond rating changes, 2) Cumulative return of stock increases following bond rating upgrades and decreases following bond rating downgrades although both are insignificant. In contrast, the cumulative return for bonds decreases significantly following bond rating upgrades and increases insignificantly following bond rating downgrade, and 3) The magnitude of bond rating changes gives no significant positive effect on average abnormal stock returns and spread yield.Keywords: abnormal return, bond rating changes, event study, spread yield Abstrak. Penelitian ini menggunakan metode event study untuk menguji perbedaan abnormal return untuk saham (average abnormal return) dan obligasi ( yield spread ). Sampel yang digunakan dalam penelitian ini adalah perusahaan yang terdaftar di Bursa Efek Indonesia periode 2007-2011, mengeluarkan obligasi korporasi, dan mengalami perubahan peringkat obligasi yang diterbitkan oleh PT Pefindo. Analisis data dilakukan dengan menggunakan uji one sample t , paired t , dan metode regresi berganda . Hasil penelitian menunjukkan bahwa : pertama, tidak terdapat perbedaan yang signifikan pada average abnormal stock return dan abnormal bond return baik sebelum pengumuman, saat pengumuman, dan setelah pengumuman perubahan peringkat obligasi; kedua, imbal hasil kumulatif untuk saham meningkat ketika pengumuman upgrade peringkat obligasi dan menurun ketika pengumuman downgrade peringkat obligasi, sementara itu, imbal hasil kumulatif untuk obligasi menurun ketika pengumuman upgrade peringkat obligasi dan meningkat ketika pengumuman downgrade peringkat obligasi; dan ketiga, besaran perubahan peringkat obligasi berpengaruh positif (tetapi tidak signifikan) terhadap average abnormal stock return dan average bond return.Kata kunci: abnormal return, bond rating changes, event study spread yiel

Board Characteristics and Earning Management

Abstract. Corporate governance is a concept where management supervision takes place in the decision-making process, both inpublic and business organizations. This research reviews the effect of board characteristics (measured based on the independentboard of directors, dual leadership/CEO duality, board size, managerial ownership, board composition /multiple directorships,board tenure, audit committee, and board interlock) on earning management in companies listed in the Indonesian StockExchange during the 2004-2008 period. To identify earning management, the researcher uses the Jones model (1991) as modifiedby Dechow and Sloan (1996) to separate non-discretionary accrual (NDAC) components from discretionary accrual components(DAC) in the total accrual. The research shows that earning management takes place in companies listed in the Indonesian StockExchange during the 2004-2008 period, be they companies in general, manufacturers, non-manufacturers, and companies thatuse audit committee services. It is discovered that the independent board of directors, board size, managerial ownership, boardcomposition/multiple directorships, board tenure, and audit committee do not affect earning management practices in the abovecompanies; only dual leadership/CEO duality affects the earning management practices.Keywords: corporate governance, earning managemen