Chandra Wijaya
1). Radioisotope and Radiopharmaceutical Center, BATAN, Serpong. 2). Faculty of Pharmacy, University of Pancasila, Jakarta.

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Journal : BISNIS

Energy Security Scenario based on Renewable Resources: A Case Study of East Sumba, East Nusa Tenggara, Indonesia Yulianto, Budi; Maarif, Syamsul; Wijaya, Chandra; Hardjomidjojo, Hartrisari
BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi
Publisher : UI Scholars Hub

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This study aims to analyze the state of energy security in East Sumba, one of the four regencies dividing the Island of Sumba, East Nusa Tenggara Province, Indonesia. This region was chosen for this study as it is popularly known as the Iconic Island of Renewable Energy. Data was gathered by applying expert interview method and analytical hierarchy process. In sum, 30 source persons dealing with the energy security issue were interviewed: 11 government officials (G), 8 businessmen (B), 5scholars (A), 4 from the common society (C), and 2 from a financial institution. This study applied energy security index to assess energy security in East Sumba. The data was analyzed by using descriptive analysis and Eckenrode method, with energy security as a criterion. The study results show that the energy security index based on renewable resources in East Sumba is still relatively low (5.91). East Sumba is rich in natural sources of energy, such as sunlight, water, biomass, wind, and biogas. Factors such as poor affordability lead to a low energy security index in East Sumba, which is often a result of poverty. The natural vast hilly and grassland topography and the decentralized settlement of the people of East Sumba also lead to poor accessibility of energy. Moreover, the supporting infrastructure, such as roads, also causes a low index of energy security. The lack of an institutional model also discourages investors from investing in East Sumba. The electrification ratio in East Sumba is still low, reaching only 31%.
A Comparative Study of Mutual Fund Portfolio Performance in Indonesia Aprillia, Dewinta; Wijaya, Chandra; Indriati, Fibria
BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi
Publisher : UI Scholars Hub

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A Mutual fund is one of the instruments in the capital markets that have an important role for investors. Through mutual funds, investors can invest their capital to get the returns with the risks that fit into each investor criteria. Asset under Management (AUM) is one of the indicator for investors in choosing a mutual fund. The more capital is deposited by the investor into a mutual fund, the greater the managed fund. This study aims to analyze how the performance of the portfolio held by equity mutual funds with the largest of Asset under Management when the stock market condition tends to be bearish. This research was conducted through three measurements, a comparison of the performance of the mutual funds returns with a market return, mutual fund diversification using coefficient determination and mutual fund performance measurement using risk-adjusted return, which are Sharpe Ratio, Treynor Ratio and Jensen’s Alpha. The results showed that the use of the entire measurement, mutual funds performance with the largest AUM outperform the market, but different results obtained for diversification measurement and Jensen’s Alpha.
Corporate Governance with the Institutional Theory Approach on Regional Development Banks in Indonesia Umanto, Umanto; Wijaya, Chandra; Atmoko, Andreo Wahyudi
BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi
Publisher : UI Scholars Hub

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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.