Market Reaction to Indonesia Golden Ring Award

This research is attended to analyze market reaction to announcement of Golden Ring Award period 2008-2015. It used an event study methodology to empirically evidence. The research samples are focused on 6 telecommunication firms listed in Indonesian Stock Exchange with judgement sampling technique. The secondary data consists of daily closing price of shares and composite stock price index with an estimation period during 21 days by using a market adjusted model. Hypotheses are tested by one sample t-test, paired t-test and independent sample t-test. There is significant market reaction to announcement of Golden Ring Award. The second hypothesis also accepted i.e. there is a significance in different market reaction between the firms getting Golden Ring Award and the firms not getting Golden Ring Award, especially in best operator category. Whereas in best value added category, market didn’t show significant reactions. This result gives implication related to the efficient capital market hypothesis i.e. semi strong form efficiency are proven

OWNERSHIP TYPE AND COMPANY PERFORMANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE

This study is aimed to test the difference in performance among companies with various types of ownership (foreign, state, and private) on a sample of 206 companieslisted in ISE (Indonesian Stock Exchange) between 1999-2006 resulting in 795 company year observations. The ANCOVA model and multiple comparison methods are used to test the hypothesis that private-owned companies have better performance than state-owned enterprises and foreign-owned companies have better performance than private-owned companies. Contrary with the hypothesis, the result shows that state-owned enterprises have better performance than private-owned companies. The possible explanation for this is because state-owned enterprises have more experience than private-owned companies (based on LogAge). State-owned firms may get some special facilities (including the easiness to get debt funding) from government. The result also shows that foreign-owned companies have better performance than private-owned companies which support the hypothesis. Foreign-owned companies have more experience in managing enterprises than private-owned companies. Furthermore, foreign-owned companies in some industries tend to be more active in doing investment than private-owned companies. There are some implications of these results. First, different ownership type gives different effect to thecompany’s performance. Second, government can consider foreign ownership in its privatization policy.Keywords: Ownership type, Performance, Experience, Investment

OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE

This study is aimed to test the difference in performance among companies with various types of ownership (foreign, state, and private) on a sample of 206 companies listed in ISE (Indonesian Stock Exchange) between 1999-2006 resulting in 795 company year observations. The ANCOVA model and multiple comparison methods are used to test the hypothesis that private-owned companies have better performance than state-owned enterprises and foreign-owned companies have better performance than private-owned companies. Contrary with the hypothesis, the result shows that state-owned enterprises have better performance than priva1e-owned companies. The possible explanationfor this is because state-owned enterprises have more experience than private-owned companies (based on LogAge). State-owned firms may get some special facilities (including the easiness to get debt funding) from government. The result also shows that foreign-owned companies have better performance than private-owned companies which support the hypothesis. Foreign-owned companies have more experience in managing enterprises than private-owned companies. Furthermore,foreign-owned companies in some industries tend to be more active in doing investment than private-owned companies. There are some implications of these results. First, different ownership type gives different effect to the company\u27s performance. Sec.ond, government can consider foreign ownership in its privatization policy

Karir Dalam Organisasi Selular (Career in Celullar Organizations)

This article explains about the existence of organizational evolution and the existence of career development. Organizational nowadays matching with a global conditions these days is cellular organization, while in recognized by boundaryless career of existence of an career protean. In career protean, career change influenced by change the assess, importance, and individual ability. Specific competence required to reach the success in the twenty first century organization. The change that happened in organizations will influence the individuals who exist in the organizations. Creative individual will exploit the change that happened to reach the career efficacy. A lot of problem which are possible happened because the change in organizations and also in growth of career of twenty first century. That‟s why it needed some consideration and effectivity in career management

Privatization Method and Firm Performance: A Study of Indonesia’s State-owned Enterprises

The government's policy of carrying out the privatization toward SOEs is still being pro and contra. Various Privatization methods offer it’s weaknesses and strengths. There are different opinions on the best method for SOE privatization in Indonesia.This study aimed to examine the differences of company's performance before and after privatization. This study also examined the differences of performance before and after privatization on specific sub-samples of the data which is based on privatization method. The population is all companies which execute the privatization method. Secondary data were used namely financial statement which was taken from the Indonesia Stock Exchange, and company's website. Data were analyzed using normality test data. In additional, the paired t-test by using normal distributed data assumption was used to test the hypothesis. The results showed that Direct method privatization positive and significant changes in measuring Total Asset Turnover. Performance conducted Privatization through the capital markets showed different results. Test on the capital market method of data showed similar result with test on the entire data (without separating the privatization method used) that occur significant performance degradation, especially in measuring Total Asset Turnover, Debt Ratio, and Return On Equity. Conducted Management / Employee Buy Out (MBO) privatization implied significant reduction in measuring Debt Ratio and Return on Equity Performance

PENGARUH TIPE KEPEMILIKAN TERHADAP PROFITABILITAS PERUSAHAAN: STUDI EMPIRIS DI BURSA EFEK INDONESIA

This research is aimed to test the difference in financial performance between firms with various types of ownership (foreign, state, and private) on a sample of 206 firms listed in BEI between 1999-2006 period resulting 795 firm-year observations. ANCOVA model and multiple comparisons are used to test the hypothesis that private-owned firms have better financial performance than state-owned firms and foreign-owned firms have better financial performance than private-owned firms. Contrary with the hypothesis, the result shows that state-owned firms have a better financial performance than private-owned firms. The result also shows that foreign-owned firms have better financial performance than private-owned firms which support the hypothesis. There are some implications of these results. First, different type of ownership give different effect to firm’s financial performance. Second, government can consider foreign ownership in its privatization policy

Literasi keuangan dosen di palembang:Faktor Pendapatan, Pendidikan, Dan Kepemilikan Produk Financial

This study aims to measure the level of financial literacy of lecturers in Palembang based on their income, education, and ownership of financial produk. The study sample was 153 respondents. Data were analyzed using descriptive analysis techniques and crosstabulation. Distribution of questionnaires with closed questions is done to collect data. The financial literacy index is divided into two groups, namely basic financial literacy and advanced financial literacy. The calculation for each variable is done using the simple weight method. The results showed that on average the basic financial literacy index of high income lecturers was included in the high category, while the advanced financial literacy index average was included in the low category for lecturers with income categories of less than or equal to nine million rupiah. The basic financial literacy index of lecturers with an average S1 education background is in the low category, while the advanced financial literacy index of lecturers with educational backgrounds S1, S2, and S3 is in the low category. The basic financial literacy index of lecturers of state and private universities is more dominant in the high category, while the advanced financial literacy index of the dominant state and private higher education lecturers is in the low category. The basic financial literacy index of lecturers from the Faculty of Economics / Business is more dominant in the high category, while lecturers from non-economic / business faculties are more dominant in the low category. Lecturers with a basic financial literacy index that is low, moderate and high in addition to having a savings account also have several financial products that are not too high risk such as government securities and mutual funds. Lecturers with a low advanced financial literacy index are more dominant in having bank and non-bank savings as well as insurance and credit cards

FINANCIAL SOCIALIZATION AGENT, GENDER, PROGRAM STUDI & LITERASI KEUANGAN

Penelitian ini bertujuan untuk membandingkan tingkat literasi keuangan mahasiswa berdasarkan faktor demografik yaitu prodi dan gender. Selain itu pada penelitian ini juga melakukan perbandingan pengaruh dari financial socialization agent yaitu orangtua, saudara kandung, paman/bibi/sepupu, teman dan media dalam literasi keuangan mahasiswa. Sampel yang digunakan dalam penelitian ini adalah sebanyak 100 mahasiswa Universitas Katolik Musi Charitas. Hasil yang diperoleh dengan pengujian three way ANOVA adalah bahwa mahasiswa yang berasal dari prodi bisnis dan keuangan dan mahasiswa laki-laki memiliki tingkat literasi yang tinggi, serta ditemukan bukti bahwa orangtua memiliki pengaruh paling besar atau dominan dalam literasi keuangan mahasiswa

Digital Economy and Financial Inclusion

The digital economy is quickly creating worldwide as the bigger of development, rivakry, and development. Despite the fact that numerous individuals have been rejected, huge open doors are accessible for the digital to help budgetary incorporation for maintainable financial improvement. Financial inclusion is conveying the financial administration to the more fragile and low salary area of society the goal that an ever increasing number of individuals can use the financial administration. We have seen little however noteworthy advances being taken by the administration, towards computerized strengthening of the individuals

PENGARUH TIPE KEPEMILIKAN TERHADAP PROFITABILITAS PERUSAHAAN: STUDI EMPIRIS DI BURSA EFEK INDONESIA

This research is aimed to test the difference in financial performance between firms with various types of ownership (foreign, state, and private) on a sample of 206 firms listed in BEI between 1999-2006 period resulting 795 firm-year observations. ANCOVA model and multiple comparisons are used to test the hypothesis that private-owned firms have better financial performance than state-owned firms and foreign-owned firms have better financial performance than private-owned firms. Contrary with the hypothesis, the result shows that state-owned firms have a better financial performance than private-owned firms. The result also shows that foreign-owned firms have better financial performance than private-owned firms which support the hypothesis. There are some implications of these results. First, different type of ownership give different effect to firm’s financial performance. Second, government can consider foreign ownership in its privatization policy