Do Political Connection and Corporate Governance Mechanism Increase Corporate Social Responsibility Disclosure?

The objective of this study is to investigate the impact of political connection and corporate governance mechanisms (independent board of commissioner, institutional ownership, and board of commissioner size) toward Corporate Social Responsibility (CSR) disclosures using Global Reporting Initiative (GRI) Guidelines. Purposive sampling technique was conducted and 272 non-financial companies listed in the Indonesian Stock Exchange during 2015-2017 were acquired as the samples (816 firm-years). For testing the hypotheses, unbalanced Generalized Least Square panel data regression was employed. The finding shows that political connection and board of commissioner size have a positive impact on CSR disclosures while independent board of commissioner and institutional ownership do not. This study contributes to political connection, corporate governance mechanism, and CSR disclosure literature by identifying CSR disclosure based on GRI guidelines up to the most detailed level, which are 77 disclosure items indicators and 254 sub-indicators. Meanwhile, previous research only identify CSR disclosure up to 77 GRI indicators without paying attention to the sub-indicators in detail

PENGARUH STRUKTUR KEPEMILIKAN DAN DEWAN KOMISARIS INDEPENDEN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN INDUSTRI BARANG KONSUMSI DI BEI TAHUN 2011–2013)

The objective of this study is to examine the influence of management ownership, institutional ownership and board of independent commissioners on firm value. This study focus on consumer goods companies listed in Indonesia Stock Exchange in 2011 until 2013. Firm value in this study proxied by Tobin’s Q. Sampling techniques in the study conducted by purposive sampling technique. A total of 36 the consumer goods companies used as a sample. The technique of analysis of this study used multiple regression. The results of this study indicate that the variable that affect the firm value is board of independent commissioners. While variables that did not affect the firm value is management ownership and institutional ownership.Keywords: Firm value, management ownership, institutional ownership and board of independent commissioners

PERILAKU STICKY COST PADA BIAYA PENJUALAN, ADMINISTRASI DAN UMUM (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2009-2012)

The objective of this study is to fi nd the indication of sticky cost behavior inIndonesian manufacturing companies during 2009-2012 and prove whether the levelof sticky cost infl uenced by the economic level. The cost stickiness can be indicated byasymetric reaction of costs to changes. The samples of this study are 309 companies.For testing the hypothesis, this study use linear regression method. This study foundthat selling, general and administrative cost increase 0,117 percent when sales increase 1 percent.Whereas, the sales and selling, general and administrative cost decrease0,049 percent per1 percent decrease in sales. This researc also found that the degree ofstickiness increase during macroeconomic growth

Structure Ownership, Company's Standard And Related Party Transaction (Rpt) Struktur Kepemilikan, Ukuran Perusahaan dan Related Party Transaction

This research is testing whether managerial ownership, institutionalownership, and company's standard have any influence on the amount of RelatedParty Transaction (RPT) both in the case of payable and receivable account. Theresearch uses the sample of 112 manufacture companies listed in BEI. RPT forpayable account is counting by dividing the total payable account of related partywith the total obligation, while the RPT for receivable account is counted by dividingthe total receivable account of related party with the total asset. The variable ofmanagerial ownership is counted from the portion of the stock the managementowns, and the variable of, institutional owns, while the company's standard isproxied by the log total asset. The datas obtained is tested using doubled regressionanalysis. The result of the research shows that managerial ownership, institutionalownership, and company's standard collectively have a significant influence on theRPT of payable account. However, partially only the company's standard has asignificant negative influence on the RPT of payable account. On the other hand,the result shows that managerial ownership, institutional ownership, and company'sstandard do not have any significant influence on the RPT of receivable account inboth collectively and partially.Key Word: Managerial Ownership, Institutional Ownership, Company's Standard,Related Party Transaction (RPT

The Sources and Effects of Retirement Planning: An Empirical Study of Sandwich-Generation Employees in Indonesia

This research aims to analyze the retirement planning of employees belonging to the sandwich generation by considering financial literacy, collectivist culture, and family financial responsibility that promote financial and psychological well-being. We run the SEM-PLS to analyze the data from 200 sandwich-generation employees between 25-55 years old. The results demonstrate that financial literacy positively affects financial and psychological well-being, collectivist culture positively affects family financial responsibility, family financial responsibility affects retirement planning and psychological well-being, as well as retirement planning positively affects financial and psychological well-being. These findings indicate that personal and financial factors contribute to retirement planning for sandwich generation employees. It is hoped that planning for retirement early can break the chain of births of the next sandwich generation in the family, so that financial and psychological well-being can be achieved. This paper implies that sandwich-generation employees must plan their retirements early and wisely to achieve financial well-being and even break the chain of the next sandwich-generation

ANALISIS PERBEDAAN PENGUNGKAPAN INTELLECTUAL CAPITAL BERDASARKAN STRUKTUR KEPEMILIKAN (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI 2011)

This research aims to determine the level of disclosure of intellectual capital in each manufacturing company listed on Indonesia Stock Exchange (BEI) in 2011 based on the ownership structure . The variables used in this research are the level of intellectual capital disclosure and ownership structure represented by foreign ownership, managerial ownership, institutional ownership, and family ownership. The sample used consist of 126 manufacturing companies listed on BEI in 2011. The level of intellectual capital disclosure was measured using disclosure score. Data analysis used in this research is Mann-Whitney U Test.. The results of this research indicate that there are differences based on foreign ownership and family ownership. While for managerial ownership and institutional ownership, there were no differences in disclosure of intellectual capital

BIAS GENDER DALAM AKSES KREDIT PERBANKAN (Studi pada Pengusaha Mikro dan Menengah di Salatiga)

Women-owned business are often thought to face difculties in applying for and securing bank loans. They face any systematic non-economic discrimination in applying  for credit. We test two question related to the success of women owned business in accessing commercial bank fnancing. First, are women-owned business less likely to apply for bank loan than business owned by man?, second if approved on their most recent application, are they more likely to receive a smaller loan?. Using quantitative methodologies with logit and multiple regression analysis, this study explores bias gender in applying bank loan at SMEs in Salatiga. We found gender to be related the size of the loan but not to be to the application for bank loan. These fnding may due to an omitted variable that could capture women’s concerns about maintaining control over their business.Keywords  : Women-owned business, small and medium business, bank, credit availability, gende

Entrepreneurial orientation and emotional bias in MSMEs’ financing and performance

There have been numerous studies investigating the dynamics of micro, small and medium enterprises (MSME) development. However, this research topic still offers several interesting research gaps to be explored. Accordingly, the purpose of this research is to test the effects of entrepreneurial orientation and asymmetric information that affect MSME entrepreneurs’ emotional biases, as well as the relationships between these variables and MSME’s financing and performance. Our research objects are MSMEs located in four urban villages in Salatiga City, Central Java that engage in various business sectors, such as the food and beverage, the service industry, the groceryw, and the horticulture sector. We analyze the research data with the Partial Least Square (PLS) software. The research results reveal that entrepreneurial orientation and asymmetric information positively influence  MSME entrepreneurs’ emotional bias. Meanwhile, emotional bias has a significantly positive influence on financing. Finally, we also find that financing positively affects MSMEs’ performance. In sum, our study demonstrates the importance of the behavioral aspect (emotional bias) in explaining MSMEs’ performance through its indirect impact through financing.Banyak studi mengenai dinamika perkembangan usaha mikro, kecil dan menengah (UMKM) telah dilakukan. Akan tetapi, masih terdapat beberapa celah penelitian yang menarik untuk dieksplorasi lebih lanjut. Untuk itu, tujuan dari penelitian ini adalah untuk menguji faktor-faktor determinan orientasi kewirausahaan dan informasi asimetris yang mempengaruhi bias emosi pengusaha, serta hubungan variabel-variabel tersebut dengan pembiayaan dan kinerja UKM. Objek penelitian ini adalah UMKM yang terkenal di empat kelurahan di Kota Salatiga - Jawa Tengah yang bergerak dalam berbagai sektor, seperti sektor makanan dan minuman, industri jasa, perdagangan, dan hortikultura. Data yang diperoleh diolah dengan menggunakan perangkat lunak Partial Least Square (PLS). Hasil analisis data menunjukkan bahwa orientasi kewirausahaan berpengaruh positif terhadap bias emosional pengusaha UMKM. Selanjutnya, informasi asimetris berpengaruh positif terhadap bias emosi. Sedangkan bias emosional berpengaruh positif terhadap pembiayaan, dan pembiayaan berpengaruh positif terhadap kinerja perusahaan. Secara umum, hasil penelitian ini menyarankan pentingnya aspek perilaku (bias emosi) dalam menjelaskan kinerja UMKM melalui dampak tidak langsungnya ke kinerja melalui pembiayaan

MODEL TRANSFER KNOWLEDGE USAHA KECIL MENENGAH DALAM MENCIPTAKAN INOVASI PRODUK (STUDI KASUS USAHA KERUPUK KABUPATEN TUNTANG SEMARANG)

The growth of SMEs in Indonesia are very fast, but they do not have good competitive advantage. Some of the reason are because they do not have good transfer knowledge in innovation product. Transfer knowledge becomes strategic issues in SMEs, to make they have more capability in running their business or making good innovation for their business. However, a review of the literature shows that no empirical research has looked at knowledge management issues at the inter-organizational level in SMEs. This paper reports on an empirical investigation with in local SMEs in Salatiga in the manufacture sector to identify their needs and practices regarding inter-organizational knowledge transfer, and thus provide empirical evidence to support the above belief. This study using a two-tier method (i.e. using both questionnaire survey and interview approaches) is deployed to address the main research objectives. A questionnaire survey of SMEs is carried out to investigate their current inter-organizational knowledge transfer situation and owner perception on various relevant issues. Then five face-to-face interviews with SMEs Owner are conducted to further validate key findings drawn from the questionnaire survey. The empirical evidence collected from the survey and interviews confirms the general belief that external knowledge is of prime importance for SMEs, and demonstrates that SMEs have very strong needs for external knowledge and inter-organizational knowledge transfer. This study has certain limitations: its results may not be applicable to other industrial sectors or the same sector in other countries; or to micro or large companies; nor does it involve cross-cultural issues

Pengaruh Biaya Corporate Social Responsibility Terhadap Kinerja Keuangan dan Nilai Perusahaan [Influence of Cost against Corporate Social Responsibility, Financial Performance, and Value]

Corporate social responsibility is becoming increasingly important in Indonesia and many companies get into trouble when they do not care about environmental and social issues. The purpose of this research is to analyze the influence of corporate social responsibility expenditure on the financial performance and value of a firm. The samples used in this study were 56 companies listed in the Indonesia Stock Exchange 2012 and 2013. The samples were chosen using the purposive sampling method based on certain designated criterias. Corporate social responsibility expenditure is measured by employee welfare cost and social expenditure for the community. The financial performance is measured by return on assets (ROA) and the firm value is measured by Tobin’s Q ratio. For testing hypothesis, this study used multiple regression analysis. The result of this study showed that the employee welfare cost had a positive effect toward financial performance (ROA) and no effect toward firm value (Tobin's Q) while social expenditure for community had no effect toward financial performance (ROA) and firm value (Tobin’s Q)