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COMPETITION AND INNOVATION RELATIONSHIP: EMPIRICAL TEST ON INDONESIA BANKING INDUSTRY Nur Astiwi, Putri; Wibowo, Buddi
Jurnal Manajemen dan Kewirausahaan (Journal of Management and Entrepreneurship) Vol 18, No 2 (2016): SEPTEMBER 2016
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (463.134 KB) | DOI: 10.9744/jmk.18.2.91–99

Abstract

This study examined inverted-U relationship between competition and innovation on Indonesian banking industry. The pattern was an output of Schumpeterian and escape competition effect. Innovation level was not measured only specific to reflect a product innovation but rather to measure the overall enterprise’s innovation level by using the concept of technology gap ratio. This method measured the utilized technical efficiency of the technology compared to the utilization of all the potential of existing technology. Banks with low technology gap ratio showed a trend of mergers, bankruptcy, or be acquired by others. It showed an increase of the technology gap ratio after implementation of Indonesian Banking Architecture. It also showed a significant relationship between competitions level, because of the increasing competitiveness of individual banks, with innovation level. The relationship was an inverted-U. So increasing competition ini-tially stimulated more innovation, but at one point, increasing competition tends to limit innovating initiatives
Analysis of Customary Institutions’ Position and Roles in Business Permission Bureaucracy: Case of Bali Wibowo, Buddi; Luthfi, Bagus Adhi; Lutfi, Anas
MIMBAR (Jurnal Sosial dan Pembangunan) Volume 32, No. 2, Year 2016 [Accredited by Ristekdikti]
Publisher : Universitas Islam Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29313/mimbar.v32i2.1843

Abstract

Uneven investment activities distribution in Bali result in economic disparity which causes not only social tension but also endanger cultural heritage. Preservation of Balinese culture could be threatened if economic and business activities are not managed properly and in line with efforts to preserve the culture of Bali in the long term. This study aims to assess the empirical and normative sociological legal jurisdiction over existing regulations related to economic and business activities in the Province of Bali which can be considered a potential threat to the preservation of Balinese culture and tradition. Based on the problem mapping that is the result of the empirical and normative juridical study, we are able to do the analysis of regulatory and institutional rearrangement of business and investment permission bureaucracy in the Bali province by considering the preservation of cultural and traditional law enforcement in Bali.
Bank Scale of Economies, Banking Industry Concentration, and Competition Level: The Indonesian Case WIBOWO, BUDDI
Jurnal Bisnis Manajemen Vol 17, No 1 (2016): March 2016
Publisher : Fakultas Ekonomi dan Bisnis Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1446.047 KB) | DOI: 10.24198/jbm.v17i1.7

Abstract

Banking sector efficiency in a country is directly influenced by regulations that set up by the banking authorities in that country, especially what kind of banking industry structure that regulator intend by those regulation. Indonesian Banking Architecture which encourage mergers and acquisitions of smaller banks, has a clear target that Indonesian banking industry should have a leaner industry structure with fewer number of banks but with relatively large assets,higher industry concentration higher and more tighter competition. This policy is driven by the regulator’s belief that Indonesian banks has not achieved its economies of scales and competition is relatively low so that the Indonesian banking operating costs are among the highest among Asian countries. The opposite actually happened in the USA where the regulator is precisely to prevent mergers between major banks due to economies of scale bank in the United States has been exceeded. The reserach results showed the group of large banks in Indonesia is more efficient than medium and small banks and the efficiency is more due to economies of scale than caused by the concentration of the industry and the level of competition between banks.
Hedging Ratio Measurement Methods and Hedging Effectiveness in Jakarta Futures Exchanges Wibowo, Buddi
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 18, No 1 (2017): JEP 2017
Publisher : Universitas Muhammdaiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v18i1.3473

Abstract

Estimation method of  hedge ratio is a crucial step in hedging strategies in the commodity futures market. This study examines the effectiveness of hedging strategy against cash position in Indonesia’s cocoa beans and Robusta coffee spot market using three hedge ratio estimation methods: OLS, Vector Error Correction Model, and Threshold-ARCH. The results show the hedging effectiveness in the Jakarta Futures Exchange is considerably highly effective to reduce the impact of fluctuations of spot price. The effectiveness of hedging strategy using  OLS as the  simplest method is close to VECM method and TARCH. Implementation OLS hedge ratio resulted  the highest hedging  effectiveness and give a strong support for market players in executing a hedging strategy in Jakarta Futures Exchange due to OLS  simplicity in estimation procedure
COMPETITION AND INNOVATION RELATIONSHIP: EMPIRICAL TEST ON INDONESIA BANKING INDUSTRY Nur Astiwi, Putri; Wibowo, Buddi
Jurnal Manajemen dan Kewirausahaan Vol 18, No 2 (2016): SEPTEMBER 2016
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (463.134 KB) | DOI: 10.9744/jmk.18.2.91–99

Abstract

This study examined inverted-U relationship between competition and innovation on Indonesian banking industry. The pattern was an output of Schumpeterian and escape competition effect. Innovation level was not measured only specific to reflect a product innovation but rather to measure the overall enterprise’s innovation level by using the concept of technology gap ratio. This method measured the utilized technical efficiency of the technology compared to the utilization of all the potential of existing technology. Banks with low technology gap ratio showed a trend of mergers, bankruptcy, or be acquired by others. It showed an increase of the technology gap ratio after implementation of Indonesian Banking Architecture. It also showed a significant relationship between competitions level, because of the increasing competitiveness of individual banks, with innovation level. The relationship was an inverted-U. So increasing competition ini-tially stimulated more innovation, but at one point, increasing competition tends to limit innovating initiatives
Comovement Indeks Pasar Saham Syariah dan Variabel Makro Ekonomi: Pendekatan Regime-Switching Regression Wibowo, Buddi
IQTISHADIA Vol 10, No 2 (2017): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v10i2.2237

Abstract

Hubungan imbal hasil indeks syariah dengan variabel makroekonomi merupakan topik riset yang cukup banyak menarik perhatian para peneliti. Comovement antara indeks syariah dengan indeks pasar saham konvensional mengindikasikan adanya hubungan kointegrasi antara kedua pasar tersebut. Comovement antara indeks syariah dan indeks pasar konvensional jauh lebih kuat pada saat volatilitas  rendah dibandingkan pada regime volatilitas yang tinggi. Signifikannya hubungan antara imbal hasil indeks syariah di Bursa Efek Indonesia dengan perubahan suku bunga memunculkan pertanyaan apakah saham-saham perusahaan yang termasuk di dalam Jakarta Islamic Index telah disaring secara ketat sehingga komponen biaya bunga sudah minimal atau karena mikro struktur pasar saham Indonesia yang didominasi investor asing.          Model regresi Markov regime-Switching mengungkapkan adanya perbedaan signfikan pengaruh perubahan nilai tukar terhadap imbal hasil indeks syariah  antara regime volatilitas yang tinggi dengan regime volatilitas yang rendah. Pengaruh nilai tukar hanya signifikan pada saat regime volatilitas yang rendah. Hal ini tidak dapat diungkap jika kita hanya menggunakan model regresi linier OLS biasa.
Uji Empiris Mekanisme Transmisi Kebijakan Moneter: Interest Rate Pass-through Sektor Perbankan Indonesia Wibowo, Buddi; Lazuardi, Eduardo
Jurnal Ekonomi dan Pembangunan Indonesia Vol 16 No 2 (2016): Januari 2016
Publisher : Department of Economics-FEB UI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (324.747 KB) | DOI: 10.21002/jepi.v16i2.629

Abstract

Empirical Evidence of Monetary Policy Transmission Mechanism: Indonesia Banking Sector Interest Rate Pass-throughRobust measurement of interest rates speed of adjustment to monetary policy changes is very important to obtain acomprehensive understanding on the monetary transmission process and the eectiveness of monetary policy. The speed of adjustment are determined by number of frictions that interfere with the transmission of monetary policy.We measure Indonesia interest rate pass-through which have distinct characteristics in terms of banking competition, segmented banking market and concentrated structure. Interest rate pass-through is measured by using Vector Error Correction Model (VECM) and Mean Adjusted Lags (MAL). This paper shows the interest rate adjustment did take a relatively long time.Keywords: Interest Rate Pass-through; Bank; Monetary; VECM; MALAbstrakPengukuran kecepatan penyesuaian suku bunga perbankan terhadap perubahan kebijakan moneter sangat penting sehingga diperoleh pemahaman komprehensif atas proses transmisi moneter dan efektivitas kebijakan. Kecepatan perubahan suku bunga deposito dan kredit perbankan ditentukan oleh adanya friksi-friksi transmisi kebijakan moneter ke sektor perbankan dan sektor riil. Penelitian ini mengukur interest rate pass-through perbankan Indonesia yang memiliki karakteristik khas dalam hal tingkat kompetisi perbankan, segmentasi pasar, dan struktur industri perbankan yang tinggi. Interest rate pass-through diukur dengan menggunakan Vector Error Correction Model (VECM) dan Mean Adjusted Lags (MAL). Hasil uji menunjukkan penyesuaian suku bunga membutuhkan waktu yang lama.
Market Power, Types of Ownership and Bank Income Diversification: Cases of Asian Countries Robertho, Valentino; Wibowo, Buddi
JDM (Jurnal Dinamika Manajemen) Vol 9, No 1 (2018): March 2018 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v9i1.14648

Abstract

This study aims to analyze the effects of market power and type of ownership on bank’s income diversification in Indonesia, Malaysia, the Philippines, Thailand, and China. Banks diversifies their source of income to stabilize profitability level. Bank’s market power is a critical factor which affect its income diversification efforts. This study uses Lerner Index as a proxy for banks’ market power. By using a sample of 80 banks in five countries from 2012 to 2016 and operating Fixed Effect Model and Generalized Least Square, the result shows that banks with greater market power earn more non-interest income, except in the Philippines. Also, government ownership is proven to heighten the relation between market power and income diversification, with consistent results shown in each subsamples. Foreign ownership also heighten the relation between market power and income diversification, except in Thailand.
Prediksi Financial Distress Bank Umum di Indonesia: Analisis Diskriminan dan Regresi Logistik Shidiq, Imaduddin; Wibowo, Buddi
Esensi: Jurnal Bisnis dan Manajemen Vol 7, No 1 (2017)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/ess.v7i1.4686

Abstract

Financial Distress Prediction in The Indonesian Banks: Discriminant Analysis and Logistic RegressionThis research aims to create early warning models for predicting financial distress on Indonesian commercial banks. Early warning models is made by estimating bank indicators that led bank run into financial problems which to be shut down by the government. Estimation use two methods, discriminant analysis, logistic regression. The data used to create models is bank's financial ratios in 1994-1997 gathered from Direktori Perbankan Indonesia (DPI). Out of the sample test use the data in 1998. All model were used to predict the bank's financial distress after 2000. This study found some characteristics of distressed banks that will be in the state of failure in two or three years. Finally, this research found that early warning system models is able to predict the probability of financial distress on commercial banks.DOI:  10.15408/ess.v7i1.4686 
Uji empirik strategi struktur modal pecking order pada perusahaan-perusahaan non keuangan lq45 bursa efek indonesia Adrianto, Adrianto; Wibowo, Buddi
INOVASI Vol 15, No 1 (2019)
Publisher : Faculty of Economics and Business Mulawarman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (428.031 KB) | DOI: 10.29264/jinv.v15i1.4448

Abstract

This paper tests the pecking order hypothesis whether it confirms the empirical result on LQ45 firmswhich in some senses are having relatively smaller assymmetric information problem than other go public firms in Indonesia. The result shows that financing deficit, profitability, and lagged leverage can significantly determine current shock of long-term debt. R value changed significantly after the former variable added in to the model, indicating that it is the biggestbut not a singlefactor determining net debt issuance. Yet, this variabel has a magnitude of about 0.60, indicating that it doesnt respond one-on-one with debt. Thus, it appears that the theory has less power in explaning LQ45 firms capital decisions