Deddy P Koesrindartoto
School of Business and Management, Institut Teknologi Bandung, Indonesia

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Identifying the Entrepreneurship Characteristics of the Oil Palm Community Plantation Farmers in the Riau Area Asmit, Brilliant; Koesrindartoto, Deddy P.
Gadjah Mada International Journal of Business Vol 17, No 3 (2015): September-December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Oil palm is an essential and strategic commodity in the Riau area because of its considerable role in supporting the peoples’ economy, especially for plantation farmers. Oil palm plantation activities have brought economic impacts to society there, both for the people who are directly involved with the plantations and for their surrounding communities. This regional advantage is a facility for farmers to be able to develop their farms as plantations. The aims of this research are to identify the entrepreneurship characteristics of the oil palm farmers, and also to identify the entrepreneurship characteristics that differentiate the farmers, as seen from their business’ achievements. The research used a grounded theory approach to identify the characteristics of oil palm farmers systematically. The sampling method used for the research was theoretical sampling, which is data gathering driven by the concepts derived from the theory of previous entrepreneurship characteristics studies. The research object is the oil palm farmers in Riau, Indonesia. The results of the analysis identified the entrepreneurship characteristics of the oil palm farmers, they are growth oriented, risk-taking, innovative, with a sense of personal control, self confident, and cooperative. But, among the characteristics, only the characteristic of their cooperation did not differentiate the oil palm farmers in the achievement of their business activities.
Analysis on indonesia strategic framework to face asean 5 in asean free trade area (AFTA) 2015 Koesrindartoto, Deddy P; Suryanta, Barli
Jurnal Manajemen Teknologi Vol 9, No 2 2010
Publisher : SBM ITB

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This paper has purpose to assess Indonesia readiness of sectors to face ASEAN 5, those are Brunei, Malaysia, Philippines, Singapore, and Thailand in near AFTA2015. And also this paper want to construct the compatible Indonesia's strategic framework that it will be useful for Indonesia itself in order to be key player in AFTA 2015. Furthermore, the econometric approach by using gravity equation model will be applied to assess Indonesia readiness to face AFTA2015 which using mechanism of free flows of goods.Keywords: AFTA2015, Indonesia Strategic Framework, Gravity Equation Model
Indonesian Government Bond Stochastic Simulation Koesrindartoto, Deddy P; Adventius, Fernando
Jurnal Manajemen Teknologi Vol 10, No 2 2011
Publisher : SBM ITB

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This paper proposes a government bond portfolio stochastic simulation using a Vasicek Model, a generally used model of term structure of interest rates. The model is used to generate the possible term structure of interest rates for five years based on the historical term structure. The future government debts are forecasted using ARIMA model, and the efficient frontier of costs resulting from portfolios of bond with different maturity structures are determined from the Cost-at-Risk framework. An optimization process will be conducted on the government bond portfolio efficient frontier based on the government risk preference.Keywords: Yield Curve, Vasicek Model, ARIMA, Cost-at-Risk, financing strategy, maturity
Factors influencing business performers in bandung to adopt cloud based pos and features influencing business owners’ preferences in choosing pos provider – empirical evidence from the utaut model Geovanno, David Ezra Michael; Koesrindartoto, Deddy Priatmodjo
Journal of Business and Management Vol 8, No 3 (2019)
Publisher : Journal of Business and Management

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Implementation of information technology is essential for the company, because it can increase the effectiveness and efficiency of the company performance. In the era of massive technology development, businesses are in a race to retain customer loyalty and attract potential customers by applying an appropriate technology within their business process. In this study, the researcher is eager to describe how the micro small and medium enterprises (MSMEs) business survive by the assist of technology so called the Point of Sale (POS) system. Recently the POS has evolved as one of the financial technology (Fin-Tech) that’s becoming very essential in order to support its activity in a quick and integrate work process. The POS has the basic function of record transaction, but unlike conventional cash register, it is now having the capability of storing data in cloud-server that integrate all the aspects within a business environments starting from payment and even supplier management. The researcher then tried to recognize the factors that significantly affect the technology adoption applying the UTAUT research model that consists of four determinant variables of performance expectancy (PE), Effort Expectancy (EE), Social Influence (SI), and Facilitating conditions (FC) all as latent variables that could affect the Behavioral Intention (BI) of the technology. The later finding then reveals that how the performance expectancy (PE) and social influence (SI) drive the intention of the cloud-based system through Partial Least Square (PLS) statistical method using SmartPLS 3.0. In addition, the research also elaborates the features of existing cloud-based POS providers in the country and compare their functional features and how they could deliver or introduce it to the market and increase their user volume. The comparison matrix of the five POS providers eventually reveals that a completeness of features does not significantly affect the business preference.
BPR KB Financial Performance Improvement: A simpler approach Raharjo, Adi Prasetio; Koesrindartoto, Deddy P
The Indonesian Journal of Business Administration Vol 1, No 8 (2012)
Publisher : The Indonesian Journal of Business Administration

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The bank in research is in a complicated situation where it is considered healthy by BI but under performing if being compared to other bank. Trough Du-Pont and common-size analysis, it is obtained that the bank in question is underleveraged and has lots of non-performing loan. And one way to increase the leverage is to analyze its funding product and provide a marketing plan accordingly. And creating an implementation plan and action plan to tackle the problem. Keywords: Du-Pont, BPR, Common-Size, Business Model Generation
Strategi Ekspansi Penyaluran Kredit UKM (Studi Kasus PT Bank BJB tbk) Hidayat, Ayat; Koesrindartoto, Deddy P.
The Indonesian Journal of Business Administration Vol 2, No 5 (2013)
Publisher : The Indonesian Journal of Business Administration

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Data of Bank Indonesia stated that Small Medium Enterprises (SME) loan portfolio by the end of April 2012 amounted to 20.65% of the total national banking loans. Currently the banks, ranging from the state owned banks, private banks, rural banks (BPR), joint venture banks, to foreign banks are competing to grab SME market. The reason is that the SME sector is a profitable and huge market. Bank BJB is one of the commercial banks based in West Java, where in the region, small medium enterprises are growing. It is opportunity of Bank BJB to focus on expanding its SME loans to the region. Existing strategies that adopted by Bank BJB is by opening new branch offices, channeling strategy and acquiring of existing BPR. This study aims to compare the three strategies above in terms of strength, weakness, opportunity and threat that likely occur. Method of analysis to be used is SWOT analysis. Once known Strength, Weakness, Opportunity and Threat for each strategy, then use the TOWS matrix to map out the existing strategy that fits with the use of strength, weakness, opportunity and threat for SME lending expansion of Bank BJB. CAMELS ratio will be used to measure the performance of BPR while Discounted Cash Flow (DCF) is method to valuate the value of BPR. Based on the results, it can be seen that strategy of opening a new branch has strength in terms of management authority which head office can control loans quality of the branch office while the weakness is difficult to find a strategic location for new branch office and it needs big initial investment. Strategy of opening new branches will remain to continue, especially in the district and sub-district area. The channeling strategy has advantage because it does not need big initial investment so the capital can be disbursed as loans effectively. This strategy will be implemented primarily to BPR bank that has broad coverage and low of NPL. The acquisition strategy has advantages in terms of fully authority of head office to control loans quality of the branch offices. This strategy can expand its loans by the existing infrastructure and resources of BPR acquired.  Keywords: SME lending, acquisition, expansion strategy
Stock Pricing Analysis of PT. LEN as Alternative Sources of Fund Through the Initial Public Offering (IPO) Attamimi, Fahmy Helmy; Koesrindartoto, Deddy P; Sumirat, Erman
The Indonesian Journal of Business Administration Vol 1, No 7 (2012)
Publisher : The Indonesian Journal of Business Administration

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PT. LEN is one of state owned companies (BUMN) in Indonesia which is engaged in technology industries. As one of state owned companies (BUMN) which enroll in strategic industries, PT. LEN has a very important role in supporting the growth of Indonesia’s development, PT. LEN’s business performance has successfully led PT. LEN as a trillion company. In 2011, the life cycle of this company has been projected from phase stability to phase growth. Nevertheless, one issue has arisen when the growth of the company is hampered by funding issue, especially the lack of capital to run the projects. The growth of revenues become unbalanced with working capital, especially liquid working capital (cash). The objective of the company is to Go Public with huge amount of capital which can support the business activities and also to strengthen the capital structure and the liquidity of assets. The sales revenue from some of its stocks is used as an alternative source of fund apart from bank loans. The fund is used to expand the company’s activities, to build the facility of developing system, and also to build fabrication workshop. The total amount of fund needed is 590 billion. During the IPO process, there are several things to be concerned, internally and externally. From the company’s internal perspective, several things to be be concerned are company’s feasibility studies in doing IPO. From the external perspective will affect investors’ interest to the company. This thesis uses discounted cash flow as a method to calculate the valuation of the company. This method is used to value stock’s price and the amount of stocks issued by PT. LEN for IP process so the price will be interesting to the investors. Other than to fulfill the needs of source funding, IPO process  is also one of the program to privatize the state owned companies in Indonesia which is included in BUMN’s Masterplan 2010-2014. Keywords: BUMN (state owned companies), Need of Funds, Initially Public Offering, Discounted Cash Flow.
Building Stock Portfolio Using Peter Lynch's Investment Strategy in Indonesia Stock Exchange Owen, Jeremy; Koesrindartoto, Deddy Priatmodjo
Journal of Business and Management Vol 9, No 2 (2020)
Publisher : Journal of Business and Management

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Abstract. Peter Lynch is one of the most influential and regarded as legendary investor of wall street. He managed to outperform the S&P500 index 13 years in a row, by doubling the S&P500 performance. It would be great to implement this strategy in Indonesia during several market condition, bearish of 2015-2017, bullish of 2016-2018 and sideways of 2017-2019 for Indonesian investors. This brings the question whether it’s applicable during the 3 markets condition in Indonesia Stock Exchange. This research uses primary data that is gathered mainly through Yahoo Finance and Stockbit.com, where this research could get historical data of the stocks, the Jakarta Composite Index, 10 years government bonds of Indonesia and other necessary data for this research. From this research, the result is, Peter Lynch’s investment strategy performs statistically better during bearish market using equally weighted method of portfolio allocation. However, the bullish and sideways market using equally weighted method is not superior compared to the market. Same goes with bearish, bullish and sideways market using market capitalization method. This was confirmed using paired t-test for normally distributed data and Mann-Whitney u-test for data that is not normally distributed. The ratio measures the performance of portfolio and compared it with the benchmark which is the Jakarta Composite Index.Keywords: Peter Lynch, stock, portfolio, Indonesia Stock Exchange
Expansion Strategy of PT Telekomunikasi Indonesia Tbk Through ITS Subsidiary Company (case study: Acquisition of Tiphone by Pins) Khairunisa, Lintang; Koesrindartoto, Deddy P
The Indonesian Journal of Business Administration Vol 4, No 2 (2015)
Publisher : The Indonesian Journal of Business Administration

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Abstract.The transformation of ICT industry was performed in order to avoid the decreasing company’s profit due to dissatisfaction of costumer. For instance, PT Telekomunikasi Indonesia (Telkom) has changed the business model from infocom (information and communication) became TIMES (Telecommunication, Information, Media, Edutainment and Services). One of the strategies of diversification is performed acquisition with company who has positive synergy and in October 2014, Telkom officially acquire Tiphone through its subsidiary which is PINS for 25%. The analysis shown that the Telecommunication Industry in Indonesia have been entered the phase of mature business. To keep sustain in this condition, Telkom has a plan to create an ICT ecosystem in its group. Therefore, Telkom want to acquire Tiphone in order to develop its business in device sector. Telkom estimate that Tiphone is a compromise company to be acquired since Tiphone has increasing gross profit margin, EBIT margin and Net Income margin every year and has CAGR as much as 19%, besides Tiphone also produce the low price cellular phone.Valuation of Discounted Cash Flow shows that the acquisition price of Tiphone is 1.52 trillion but PT PINS which is Telkom’s subsidiary company, acquire Tiphone only for 1.39 trillion which is undervalued. Moreover, Telkom and Tiphone have a positive synergy, reflected by the performance between 2 companies in cooperating of the migration process of flexi users into Telkomsel users. In this Final project, proposed that Tiphone should focus in produce Smartphone than feature phone. Thus, Tiphone can provide the Smartphone for flexi user in migration process. .Keywords: Expansion, Acquisition, Device, Discounted Cash Flow Analysis