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INDUSTRI PERBANKAN INDONESIA PERIODE 2001-2014: DETEKSI KONSENTRASI PASAR DAN PRESTASI ALMA Jumono, Sapto; Achsani, Noer Azam; DB Hakim, DB Hakim; M Firdaus, M Firdaus
Jurnal Ekonomi : Journal of Economic Vol 7, No 01 (2016): Jurnal Ekonomi
Publisher : Lembaga Penerbitan Unversitas Esa Unggul

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47007/jeko.v7i01.1520

Abstract

This descriptive study aims to explain the condition of credits market and deposit market of Indonesian banking in the period of 2001-2014 includes the achievement of ALMA and CAMEL based on the secondary data and financial statements of 97 Indonesian banks. This graph result and tabulation and financial ratio show the information that Indonesian banking market is in the competitive condition (CR4 index and HHI index decrease and the market is classified in loose oligopoly condition), however all main variables of ALMA show the high ranking. Keywords: CR4,HHI, ALMA dan CAMEL
Asymmetric Price Transmission with Threshold Behavior of Potatoes Market in Bandung Regency West Java Fitria, Dina Nurul; Harianto, Harianto; Priyarsono, Dominicus Savio; Achsani, Noer Azam
AGRARIS: Journal of Agribusiness and Rural Development Research Vol 6, No 1: January-June 2020
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (18.182 KB) | DOI: 10.18196/agr.6193

Abstract

Horticulture products price in Indonesia (for certain commodities) has experienced the issue of volatility, price decline at farm gate stage, due to an increase in supply is not equal to or comparable with price increase at the other stage. This paper endeavors to investigate threshold behavior in asymmetry test by taking the case of potatoes prices in two important state levels of price, i.e. farm gate prices, and retail prices. The observation used monthly price data from January 2009-December 2013. Threshold behavior detected by TAR model that fits in asymmetry testing with two regime. Threshold value is interpreted as a measure of transaction cost between retail to farm gate and increase the quantity supplied, that would create incentive for trade. Research results reveals as per monthly data price adjustment between farm gate to retail not presence of asymmetry price transmission. Asymmetry only reveals within seasonal data, threshold behavior forms margins overshoot of potatoes equilibrium trader’s levels, thus leading to farmer’s decision in profit maximization.      Keywords: threshold behavior, asymmetry testing, potatoes, TAR Model, seasonal
The Influence of Debtor’s Satisfaction Toward Cross-Selling Readiness and Providing Recommendations Saraswati, Henny; Achsani, Noer Azam; Kirbrandoko, Kirbrandoko
BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The achievement of the banking sector's lending product is not consistently followed by the same level of achievement of other products. Therefore, it is important to observe customer segmentation, figuring out customer satisfaction, and to find out the influence of customer satisfaction toward the customer's willingness to cross-sell and providing recommendations on each segmentation. The purpose of this research paper is to identify individual debtor segment, identifying the influence of debtor's satisfaction toward cross-selling willingness and providing recommendations, as well as to become a business strategy reference for companies. We investigate the service quality (reliability, responsiveness, assurance, empathy, and tangible) to observe the level of both satisfaction and loyalty of the debtors. The research is conducted with 93 respondents. The analytical method that is applied in this research paper is descriptive statistics, cross tabulation, and regression analysis. The research results indicate that the biggest number of debtors is on the low-interest loan segment on service and trade businesses, while for the medium-interest loan and high-interest loan the biggest number is on the trade businesses. In general, each segmentation is willing to cross-sell. However, the high-interest loan segment is more willing to cross-sell. On both low-interest loan and medium-interest loan segments, the debtors are willing to recommend the company's products to their relations. However, the debtors on the high-interest loan tend to be unwilling to do so. The results of this research also clarifies the theory that debtor's satisfaction has a significant relation with the willingness to cross-sell and providing recommendations (customer's loyalty). This may also help managers to provide a proper service for different debtor's segmentation.
Dividend payouts, internal and other external factors, and its impact on stock price Tribella Kembaren; Noer Azam Achsani; Tb Nur Ahmad Maulana
Jurnal Keuangan dan Perbankan Vol 23, No 2 (2019): April 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (734.035 KB) | DOI: 10.26905/jkdp.v23i2.2520

Abstract

This study focuses on the effect of dividend payouts, internal and external factors on stock prices of corporate banking sub-sector. Based on core capital, banking companies in Indonesia are categorized into 4 BUKU (Commercial Bank Based on Business Activities). The findings of this study show that BUKU 4 (its core capital = IDR. 30 billion) provides annual dividend payouts. Its dividend per share, dividend yield, and dividend payout ratio are higher than BUKU bank group 1, 2, and 3. This study also analyzes the effect of dividend payout, Net Interest Margin (NIM), Non-Performing Loan (NPL), inflation rate, interest rate, and Rupiah exchange rate (REER) on the stock prices of 31 banking companies indexed in IDX from annual data over the period of 2013 to 2017. Dividend payout and NIM have a positive and significant effect on stock prices. Panel data regression analysis found that the interest rate has a negative significant effect on stock prices. Meanwhile, the OLS regression test (dummy variable) found that NPL has a negative significant effect on stock prices.JEL Classification: C33, E44, G21DOI: https://doi.org/10.26905/jkdp.v23i2.2520
Coal Prices and Foreign Ownership on the Capital Structure of Indonesian Coal Companies Hanum Amalia Budhi Pratiwi; Noer Azam Achsani; Toni Irawan
Jurnal Keuangan dan Perbankan Vol 26, No 1 (2022): January 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i1.6872

Abstract

This paper investigated the effect of coal prices and foreign ownership on the capital structure of coal companies in the Indonesian stock exchange. This study used debt to equity ratio (DER) to proxy capital structure and control variables, i.e., size, liquidity, and profitability. This study employed the statistic descriptive analysis and regression analysis of panel data and covered quarter data of 23 coal companies listed in the Indonesian stock exchange in a 3-year time horizon (2018-2020). This study concludes that ten out of 23 coal companies have more than 100% DER. Based on the sources of liabilities, debt originating from third parties is the primary source of debt for coal companies listed on the IDX in 2018-2020. The next order of sources of debt in a row is bank loans, debts from related parties, lease payables, bonds, and dividends. The result showed that ten out of 23 companies have a more than 100% capital structure value. The panel data regression analysis showed that capital structure significantly impacts coal prices, foreign ownership, size, liquidity, and profitability. As one of the main coal exporters, Indonesia has a good bargaining position in the international market. An investor can use the movement of coal prices as one of the criteria for deciding to invest in this industry.
THE CAPITAL STRUCTURE OF VENTURE CAPITAL FIRMS IN INDONESIA Andi Buchari; Noer Azam Achsani; Mangara Tambunan; Tubagus Nur Ahmad Maulana
Jurnal Keuangan dan Perbankan Vol 20, No 3 (2016): September 2016
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (629.747 KB) | DOI: 10.26905/jkdp.v20i3.267

Abstract

Venture capital (VC) is an important fund source for small and medium enterprises (SMEs) and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014) monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.
PERANCANGAN SISTEM PENUNJANG KEPUTUSAN INTELIJEN UNTUK SELEKSI KONSEP PRODUK BARU ASAP CAIR TEMPURUNG KELAPA Ervina Mela Dewi, Yandra Arkeman, Erliza Noor, Noer Azam Achsani
Jurnal Teknologi Industri Pertanian Vol. 25 No. 2 (2015): Jurnal Teknologi Industri Pertanian
Publisher : Department of Agroindustrial Technology, Bogor Agricultural University

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Derived products from coconut shell wood vinegar in Indonesia are still limited, consequently need todevelop new products. Critical step of new product development is product concept selection. Currently, productconcept selection has been done based on intuition by decision makers and it mostly gained the fail products.Therefore, it needs to design a decision support system for selecting product concepts of coconut shell woodvinegar with intelligent system. The objective of this study was to obtained the intelligent decision support systemfor selecting new product concept. In detail, the objectives were to gain new product concepts of coconut shellwood vinegar, design success prediction model and design priority and recommendation determination modelfor selecting new product concepts. Literature study was carried out to find the new product concepts,backpropagation artificial neural networks was applied for prediction model, and pairwise comparation alsoBayes method used to design priority and recommendation determination model. The intelligent decision supportsystem for selecting new products concept model can be used to rank priority of coconut shell wood vinegar newproduct concepts. The new products concepts as first priority are supporting products for agriculture includefertilizer, growth hormone, pesticide, herbicide, insecticide, fungicide, and repellent.Keywords: coconut shell wood vinegar, new product concept selection, intelligent decision support system
ANALISIS FAKTOR YANG MEMPENGARUHI HARGA DAN INTEGRASI HARGA OLEIN Desak Putu Ristami Paramita; Nunung Nuryartono; Noer Azam Achsani
JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN Vol 4 No 1 (2015): Jurnal Ekonomi dan Kebijakan Pembangunan
Publisher : IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1047.518 KB) | DOI: 10.29244/jekp.4.1.2015.28-48

Abstract

Olein production increased by 107.5 percent from 2002 to 2013. There was a change in consumption patterns where the consumption of olein intended for export has risen from only 39 percent in 2002 to 65 percent in 2013. In the beginning of 2008, olein prices increased due to the global financial crisis. In the end of 2008, olein prices decreased but since then olein prices fluctuations until the end of 2014. Many factors affecting the price fluctuations such as macroeconomic and microeconomic variables. Commodity market participants need to take action in response to price fluctuations by participating in commodity futures trading. Olein futures trading commodity in Indonesia is not well developed. This is indicated by small volumes of the transaction of olein futures contracts in Indonesia Commodity and Derivatives Exchange (ICDX) causing market participants to not using ICDX futures prices as a reference. The participants actually use the price of the Rotterdam exchange for their transactions of buying and selling. Therefore, this study aims to analyze factors influencing olein prices and analyze olein prices integration by using Vector Error Correction Model (VECM) method. Results showed that exchange rates, interest rates, money supply, CPO prices, and Indonesia's GDP affect olein prices. In addition, there is an integration between the physical prices, futures prices, and world reference prices in the long term. Key words : Factors Affecting Price, Olein, Price Integration, VECM
Respon Return Pasar Modal Indonesia terhadap Kebijakan Moneter Domestik dan Asing Aulia Yulianti Wulandari; Noer Azam Achsani; Lukytawati Anggraeni
JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN Vol 7 No 1 (2018): Jurnal Ekonomi dan Kebijakan Pembangunan
Publisher : IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1090.146 KB) | DOI: 10.29244/jekp.7.1.2018.1-20

Abstract

Understanding the impact of external shocks on the stock market return and volatility is crucial for market participants as volatility is synonymous with risk. This paper provides comprehensive evidence on the spillover effects of the change of monetary policies from inside country and foreign origins on Indonesia stock market in the period of the time from November 2, 2012 to May 15, 2017. Used symmetric (IGARCH) and asymmetric (EGARCH and APARCH) GARCH model analysis to evaluate the impact of surprise and anticipated changes of monetary policies from inside country and foreign policies (from another ASEAN countries and leading economies, in this paper are United States, Europe, and United Kingdom). Surprise change of monetary policy is proxied by one day change in 3 months interbank offered rate, while anticipated change of monetary policy is proxied by one day change in target interest rate or policy rate. The result shows that information of the monetary policy news and Indonesia stock return is asymmetric. Indonesia stock market is only affected by foreign monetary policies. Keywords: ASEAN stock market, GARCH, Monetary policy JEL classification: C01, C50, E50
Involvement of The Actors in Conversion Control of Agricultural Land (Case Study in Tabanan District, Bali Province) Widhianthini .; Arya Hadi Dharmawan; Noer Azam Achsani
Sodality: Jurnal Sosiologi Pedesaan Vol. 4 No. 1 (2016): Sodality
Publisher : Departement of Communication and Community Development Sciences, Faculty of Human Ecology

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (976.148 KB) | DOI: 10.22500/sodality.v4i1.14403

Abstract

ABSTRACTThe purpose of this research is to know how the role of government actors, private or investors and indigenous institutions (Subak and Pakraman) in the management of land resources (including water) so that the conversion of agricultural land can be prevented. The study was conducted in Tabanan, Bali Province. Depth interview techniques and stakeholder analysis as an approach of this research. A stakeholder analysis is instrumental to understand the social and institutional context of a program or project activities. The purpose of stakeholder analysis is to determine interests and their authority in preventing the conversion of agricultural land. The results showed that there are two forces actors (stakeholders) in the management of land resources (including water). The government in collaboration with investors and has a role as a player, while Subak and Pakraman have a role on the position of the object. Power relations are played by actors of government is still dominant compared to indigenous institutional Subak and Pakraman. Investors who have the capital strength and enthroned as the ‘king’ always pave the spatial plannings are on ‘profit-seeking’ biggest for himself. Power is seen as a mechanism of domination which is a form of power against the other in a relationship dominated by dominated or powerfull by the powerless. The duality of land governance (including water) between actors is the dualism solution. The duality that lies in the fact, that he could be seen as rules that a principle for action in a wide range of space and time, while it is the result (outcome) and means looping action thus overcoming space and time. Duality of land governance (including water) shows that in the future that is necessary is to put Subak and Pakraman in a position of political strength parallel to desa dinas and other government institutions.Keywords: indigenous institutions (Subak, Pakraman), conversion of agricultural land, stakeholder analysis, duality of land governanceABSTRAKTujuan dari penelitian ini adalah mengetahui bagaimana peran aktor pemerintah, swasta atau investor, dan kelembagaan lokal (subak dan desa pakraman) dalam pengelolaan sumber daya lahan (termasuk air) sehingga konversi lahan pertanian dapat dicegah. Penelitian dilakukan di Kabupaten Tabanan, Propinsi Bali. Teknik wawancara yang mendalam dan analisis stakeholder sebagai pendekatan penelitian ini. Analisis stakeholder merupakan instrument untuk memahami konteks social dan kelembagaan dari program atau kegiatan proyek. Tujuan dari analisis stakeholder adalah untuk menentukan minat dan kewenangan mereka dalam mencegah konversi lahan pertanian. Hasil memperlihatkan bahwa terdapat dua kekuatan aktor (stakeholder) dalam pengelolaan sumberdaya lahan (termasuk air). Pemerintah berkolaborasi dengan investor dan memiliki peran sebagai pemain, sedangkan subak dan desa pakraman memiliki peran pada posisi objek. Relasi kuasa yang dimainkan oleh aktor pemerintah masih bersifat dominan dibandingkan kelembagaan lokal subak dan desa pakraman. Aktor investor yang memiliki kekuatan modal dan bertahta sebagai ‘raja’ selalu melicinkan perencanaan-perencanaan tata ruang yang memberikan ‘profit seeking’ terbesar bagi dirinya. Kekuasaan dipandang sebagai mekanisme dominasi yang merupakan bentuk kekuasaan terhadap yang lain dalam relasi yang mendominasi dengan yang didominasi atau yang berkuasa dengan yang tidak berdaya. Dualitas tata kelola lahan (termasuk air) antar para aktor merupakan pemecahan dualism tersebut. Dualitas itu terletak dalam fakta, bahwa ia bisa dipandang sebagai aturan yang menjadi prinsip bagi tindakan di berbagai ruang dan waktu, sekaligus ia merupakan hasil (outcome) dan sarana perulangan tindakan yang karenanya mengatasi ruang dan waktu. Dualitas tata kelola lahan (termasuk air) ini menunjukkan bahwa kedepan yang diperlukan adalah menempatkan subak dan desa pakraman pada posisi kekuatan politik yang sejajar dengan desa dinas dan kelembagaan pemerintah lainnya.Kata kunci: kelembagaan lokal (subak, desa pakraman), konversi lahan pertanian, analisis stakeholder, dualitas tata kelola lahan
Co-Authors . Gunawan ., Harianto A, Akhmad Aang Munawar Abd. Rasyid Syamsuri Abdullah, Feriansyah Achmad Fadillah Aditya Galih Prihartono Adler H. Manurung Adler H. Manurung Adler Hayman Manurung Adler Haymans Manurung Adytia Pradnya Murti Ahmad Heri Firdaus Aida Vityala Hubeis Ake Wihadanto Ake Wihadanto Akhmad Fauzi Alfa Firdaus Alfa Firdaus Ali Akil Parlindungan Siregar Amadeus Sanda Layuk Amrieh Samad Soemargo Amzul Rifin Andi Buchari Andra Devi Benazir Ani Suryani Ani Suryani Arief Daryanto Arief Sabdo Yuwono Arif Imam Suroso Arif Kurniadi Arif Kurniadi Arman Arman Armansyah Halomoan Tambunan Aruddy Aruddy Arya Hadi Dharmawan Asaduddin Abdullah Ascarya Ascarya Asep Taryana Asysyifa Vivekananda Aty Herawati Aulia Yulianti Wulandari Baba Barus Bagus Sartono Bambang Juanda Baransano, Michael Albert Bayu Bandono Bayu Bandono Bayu Bandono Bayu Bandono Bayu Widokartiko Beny Mulyana Sukandar Bintang Narotama Bonar M. Sinaga Bratakusumah, Deddy S. Bunasor Sanim Bustanul Arifin Bustanul Arifin Cory Trisilawaty Danika Reka Artha Danika Reka Artha Danti Astrini DB Hakim, DB Hakim Deddy S. Bratakusumah Deddy S. Bratakusumah Dede Iskandar Dedi Budiman Hakim Desak Putu Ristami Paramita Dhany Surya Ratana Dhita, Sasha Didin Hafidhuddin Dominicus Savio Priyarsono Drajat Martianto Dwi Andhayani Eka Intan Kumala Putri Eka Khaerandy Oktafianto Eka Sudarmaji Elly Zunara Ernawati Alena Erwin Riyanto Ferry Syarifuddin Firman Siregar Fitri Kinasih Husnul Khotimah Fitria Yuliani Frances Roi Seston Tampubolon Ganistie Furry Qisthina Hanum Amalia Budhi Pratiwi Hardiyanto, Arief Tri Hari Wijayanto Hari Wijayanto Harianto Harianto Harianto MS Helen Wiryani Hendina Pratiwi Hendramiko Hendri Setiadi Hendro Sasongko Hendro Sasongko Hendro Sasongko Hendro Sasongko Hendro Sasongko Hendro Sasongko Heni Hasanah Heni Hasanah Henny Saraswati Hermanto Siregar Herry Frenky Nababan Hizir Sofyan I Gede Widya Anantayoga Idqan Fahmi Idrus, Yudi Avalon Imam T Saptono Imam Teguh Saptono Irfan Syauqi Beik Irfany, Mohammad Iqbal Kirbrandoko Kirbrandoko Kirbrandoko Kirbrandoko Koes Pranowo Koes Pranowo Kolopaking, Lala La Ode Abdul Rahman Lala Kolopaking Linda Karlina Sari Linda Karlina Sari Linda Karlina Sari Lukman M. Baga Lukytawati Anggaraeni Lukytawati Anggraeni M Firdaus, M Firdaus Machfud Machfud Machfud Machfud Mangara Tambunan Mangara Tambunan Marimin . Marimin Marimin Maulida Aulia Rezki Meiharriko Mela Yunita Michael Albert Baransano Miranti Miranti Moch Hadi Santoso Moch. Hadi Santoso Moch. Hadi Santoso Mohamad Syamsul Ma’arif Mokhammad Fadhil Adnanhasan Muadz Abdul Hakim Muhammad Afif Murtadho Muhammad Aja Fajrian Muhammad Findi Alexandi Mukhamad Najib Nani Yuheti Yuniatin Novian Zen Nunung Nuryartono Nurwati, Etty Pebrika Yudha Putri Purwanto, Sugeng Raden Dikky Indrawan Raden Roro Anita Nur Rimadhani Rahmat Budiman Rahmat Mulyana Rahmi Jamza Ramadhoni Tiar Saputra Resky Rumbiak Rico Rizal Budidarmo Rifki Ismal Rina Oktaviani Risya Maulida Septiana Rita Nurmalina Rizal Ahmad Fauzi Roy Sembel Roy Sembel Roy Sembel Roy Sembel Rudjito Rudjito Salsa Dilla Santosa Santosa Sapto Jumono Saraswati, Henny Sari, Linda Karlina Sembel, Roy Serarifi Elagin Harahap Setia Hadi Setiadi Djohar Setyo Wibowo Simon Pekey Sjafri Mangkuprawira Sofina Mujadiddah Solihin Solihin Sri Hartoyo Sri Murtiyanti Suarsih, Siti Suhendi Sumedi Andoyo Mulyo Syamsul Hidayat Pasaribu Tanti Novianti Tanti Novianti Tanti Novianti TATI NURHAYATI Tb Nur Ahmad Maulana Tia Rahmina Toni Bakhtiar Toni Irawan Tony Irawan Trias Andati Trias Andati Trias Andati Trias Andati Trias Andati Trias Andati Trias Andati Trias Andati Tribella Kembaren Tridoyo Kusumastanto Trisilawaty, Cory Tubagus N.A. Maulana Tubagus Nur Ahmad Maulana Tubagus Nur Ahmad Maulana Tubagus Nur Ahmad Maulana Tubagus Nur Ahmad Maulana Ujang Sumarwan Viga Fakoano Wahid Achsan Widhianthini . Widyastutik Wihadanto, Ake Yandra Arkeman Yandra Arkeman Zainal Zawir Simon Zelin Nurfadia Sidik