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Business and Management Review
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Articles 31 Documents
Manajemen Transportasi Berkelanjutan Dalam Pengembangan Industri Pariwisata di Yogyakarta Haryanto, Joko Tri
Business and Management Review Vol 3, No 1 (2012): Desember
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As a tourist destination, it is very important for managing transport in Yogyakarta which giving attention to the quality of air. Management of the transportation becomes mandatory when Yogyakarta declared as an area excursions and cultural tourism. Sources of air pollutants in addition caused the growth of motor vehicles also caused by population growth. As a result, in addition to increased levels of pollution in the air, the beauty of the system is one of the city as a tourist attraction would be threatened. By using the system dynamics approach, the links between transport management and increased attention to air quality in Yogyakarta tourism activities can be explained by using a number of different scenarios with solutions whether Business As Usua (BAU)l, or other alternative solutions. By using the BAU scenario, PAD (Local Revenue) will increase to Rp2.764.957.000.000 in 2025 or raising around 26.3 percent. The increased PAD will be used to allocate the budget increased by 29.0 percent. While the other scenario, decreasing pollution 7.4 percent, with the increase in revenues a 27.4 percent over the past 25 percent, the budget increase of 30.2 percent. Keywords: System dinamics, Cultural tourism, Sustainable transportation  DAFTAR PUSTAKA Bappenas dan ADB, 2006. Peningkatan Kualitas Udara Perkotaan, Strategi dan Rencana Aksi Lokal, Aglomerasi Perkotaan Yogyakarta. Jakarta: 170 hlm; Bappeda Provinsi Yogyakarta, 2004. Profil Kesehatan Provinsi Yogyakarta. Yogyakarta: 189 hlm; Hasanudin, 2006. Konflik Kepariwisataan di Padang Pariaman. Artikel Ilmiah Penelitian Dosen Muda Fakultas Sastra Jurusan Sastra Daerah. Padang: Universitas Andalas; Irawati, Eka Putra, 2009. Kajian Perencanaan Penataan Kawasan Wisata Terpadu Pantai Padang (Studi Kasus Penataan Kawasan Pantai Padang-Padang Bay City. Laporan Penelitian DIPA Universitas Andalas. Padang: Universitas Andalas; Kementerian Kebudayaan dan Pariwisata Indonesia, 2004. Rencana Strategis Pembangunan Kebudayaan dan Kepariwisataan Nasional Tahun 2005-2009: Ringkasan Eksekutif. Jakarta: Kementerian Kebudayaan dan Pariwisata Indonesia. 234 hlm; Mualisin, Isnaini., 2007.Model Pengembangan  Pariwisata Berbasis Masyarakat di Kota Yogyakarta. Jurnal  Penelitian Bappeda Kota Yogyakarta 2 (2):34-36; Nirwandar, Sapta. 2005, Pembangunan Pariwisata di Era Otonomi Daerah, Laporan Bappenas. Jakarta; Pitana, I Gde dan Putu G. Gayatri, 2009. Sosiologi Pariwisata. Yogyakarta: Penerbit Andi. 95 hlm; Pitana, I Gde dan I Ketut Surya Diarta, 2009. Pengantar Ilmu Pariwisata. Yogyakarta: Penerbit Andi. 95 hlm; Persepsi Wisatawan Domestik. Jurnal Ekonomi Pembangunan 3(7): 33-49; Rahajeng, Anggi., 2008.Analisis Faktor Keputusan Wisata Budaya, Sejarah dan Alam Yogyakarta: Sammeng, Andi Mappi, 2000. Cakrawala Pariwisata.Jakarta: Ghalia.145 hlm; Yoeti, Oka. A, 2006. Pariwisata Budaya, Masalah dan Solusinya. Jakarta: PT. Pradnya Paramita. 165 hlm; Wardiyanta, 2006. Metode Penelitian Pariwisata. Yogyakarta: Penerbit Andi. 95 hlm;
Pengaruh Struktur Modal dan Risiko Operasional terhadap Profitabilitas pada Industri Perbankan di Indonesia Margaretha, Farah; Nurul, Istania
Business and Management Review Vol 3, No 1 (2012): Desember
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The study’s purpose is to acknowledge the influence of capital structure and operational risk on profitability of banking industry in Indonesia. The samples are banking industries in Indonesian Stock Exchange for the period of 2004 up to 2009. Independent variables in this study included capital structure that measured by liability ratio and equity ratio, and operational risk that measured by portfolio concentration, whereas dependent variable is profitability that measured by profit margin. Beside that, control variabel is macroeconomics that measured by inflation rate. With using purposive sampling, the total of sample in this study is 22 companies of banking industries. Data analysis model are simple linear regression and t-test. Based on t-test, the result of capital structure that measured by both liability ratio and equity ratio has a significant impact to profitability, capital structure that measured by both liability ratio and equity ratio doesn’t has a significant impact to operational risk, and operational risk doesn’t has a significant impact to profitability. Meanwhile inflation rate doesn’t affect liability ratio, equity ratio, portfolio concentration, and profit margin, This result indicates that the company’s management has to consider capital structure, whereas can be influence the profitability. Keywords: capital structure, operatinal risk, profitability DAFTAR PUSTAKA Afza, T. & Nazir, M.S. (2009) Impact of Aggressive Working Capital Management Policy on Firms’ Profitability, Journal of Applied Finance, 15(8). Changchien, I.J. (2000). An exploration and empirical evidence for the influential factors of property-liability insurance industry’s capital structure, Insurance monograph, 62: 145-63. Chen, J.S., Chen, M.C. & Chen, T.H. (2009). Influence of Capital Structure and Operational Risk on Profitability of Life Insurance Industry in Taiwan, Journal of Modelling in Management, 4(1): 7-18. Chen, Y.C. & Tsai, C.H. (2000). Capital structure and risk in life company, Insurance Monograph, 18(1): 75-92.R Cummins, J.D. & Harrington, S.E. (1988). The Relationship between Risk and Return: Evidence for Property-Liability insurance stocks, Journal of Risk and Insurance, 55(1): 15-32. Cummins, J.D. & Sommer, D.W. (1996). Capital and Risk in Property-Liability insurance markets, Journal of Banking & Finance, 20: 1069-92. Gitman, Lawrence J. (2009). Principle of Management Finance, (11thEd.). Boston: Pearson Education, Inc. Jensen, M.C. & Meckling, W. (1976). Theory of the firm: managerial behavior, agency cost, and capital structure, Journal of Financial Economics, 3: 305-60. Lin, W.C. & Huang, H.M. (2002). Fair Surplus Value of the Property-Liability Insurer Under Catastrophe risk, Journal of Risk Management, 4(1): 1-18. Margaretha, Farah. (2005). Manajemen Keuangan Investasi dan Sumber Dana Jangka Panjang. Jakarta : Grasindo. Modigliani, F. & Miller, M.H. (1958). The Cost of Capital, Corporation Finance, and  The Theory of Investment, American Economic Review, 48: 261-97. Myers, S.C. & Majluf, N.S. (1984). Corporate Financing and Investment Decisions when Firms Have Information that Investors Do Not Have, Journal of Financial Economics, 13: 187-221. Staking, K.B. & Babbel, D.F. (1995). The Relation between Capital Structure, Interest rate Sensitivity, and Market value in the Property-liability Insurance Industry, Journal of Risk and Insurance, 62(4): 690-718.
Analisis Pengaruh Rasio Keuangan Dan EVA Terhadap Harga Saham Bank Silalahi, Rizal
Business and Management Review Vol 2, No 2 (2012): Juni
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Financial Ratio and Economic Value Added (EVA) have received a lot of recognition as a measure of prediction of share price.  While the measure has been widely used    for the purpose  of business in   all over the world, many research studies have appeared to examine variety of issues related to EVA in banking sector. An attempt has been made in this paper to  call  EVA-based analysis  for the Indonesian Banking Industry. A Sample of 10 public sector banks listed in Indonesia Stock Exchange has been selected using judgmental sampling. The financial data of these sample units for four years, 2008-2011, have been used for the analysis and comparison. Equity approach has been followed to compute EVA. Economic Value Added (EVA) is now being considered as an important management tool across the  banking  world for measuring and rewarding performance inside the  bank. Most of the  banks  measure performance with accounting profits which are often seriously measure of profitability.  EVA  is another measure of profitability. Unlike financial ratio such as ROA, ROE, NPM, DER,  EVA indicates the value to what extent created by management or agent for shareholders. This paper aims to analyze banks' performance  through  financial ratio and  EVA . For this purpose, EVA has been calculated taking certain assumptions as to the cost of equity and operational profit adjustments. A rank of regression coefficient between Share Price and different criteria indicates the decreasing rank from the highest to the  lowest under Return on Asset (ROA),  Debt to Equity (DER), Economic Value Added  (EVA)  and    Net Profit Margin  (NPM)  Dividend Payout Ratio (DPR), Return on Equity (ROE) and Debt to Asset Ratio (DAR).  ROA, DER, NPM, and EVA show a positive and significant explanatory power on Share Price in all ten samples. On the other hand, ROE, DPR, DAR show a negative explanatory power for Share Price in the banking sectors (t-value = negative; p-value = 0.05) demonstrates an insignificant relationship with Share Price in the banking sectors. According to the findings, EVA and some financial ratio are valuable performance measures for evaluating banking sectors. This study provides interesting and meaningful findings that EVA can be considered good performance measures throughout the banking sectors. In addition, the study found that  in banking sector traditional performance measures such as financial ratio ROA, DER, NPM  do not explain much of market adjusted return after considering EVA. Keywords: Financial Ratio, Economic Value Added and Share Price.
Pengaruh Kepuasan Kerja Karyawan Terhadap Turnover Intentions Dengan Withdrawal Cognitions Dan Job Search Sebagai Variabel Pemediasi Sihombing, Agus; Saragih, Susanti
Business and Management Review Vol 2, No 2 (2012): Juni
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The purpose of this research is to  examine the effects of job satisfaction and job search on turnover intentions in which withdrawal cognitions as mediating variable.  Variables in this research were measured via a survey of 95 administration staffs of credit banking company in Bandung, West Java. Path analysis model were used to examine the significant level and the direct effects of job satisfaction on turnover intentions and also indirect effects of job satisfaction on turnover intention, withdrawal cognitions and job search as mediating variables.  Results showed that job satisfaction significantly influences turnover intentions and job satisfaction significantly influences withdrawal cognitions. In addition, this research found that withdrawal cognitions found significantly mediated the relationship between job satisfaction and job search. Job satisfaction is also found significantly influences job search and job search significantly found mediated the relationship between job satisfaction and turnover intentions. Keywords:  Job Satisfaction, Withdrawal Cognitions, Job Search, Turnover Intentions, Mediating Variable
Category Membership: Suatu Pendekatan Analisis Positioning pada Food Convenience Retail di Jakarta Fortunisa, Ananda; Trihartanto, Bambang
Business and Management Review Vol 3, No 1 (2012): Desember
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Category membership is a brand of excellence and functionality of a closest substitute product. In this case,marketers sort product attributes or benefits into two points, point of parity and point of difference, in order to formthe frame of reference of the product. Frame of reference can help marketers to find out who its competitors are andwhere to position himself in the membership category. This study aims to examine the factors forming the 7-Eleven 'spositioning and to determine 7-Eleven 's category membership in the retail business in Indonesia. Both of these isvery important to investigate, because 7-Eleven is not nor in convenience store neither in food store anyway. Thisstudy uses descriptive method verification, which is implemented through field data collection by distributingquestionnaires to 150 respondents in three outlets, Matraman, Plaza Festival, and Farnan Menteng. Respondentswere selected at 1;andom, and who had been shopping at 7-Eleven. Based on the perspective of the respondents, theresults showed that 7-Eleven is not clearly in the group membership categories, whether in the category ofcommodities business retailer or restaurant services retailer. This is because although 7 -Eleven has a patented foodproduct but 7-Eleven also sells merchandise day-to-day needs. The results suggest that 7-Eleven has to morefocusing in what types of retailer category, so it was able to under,stand who its competitors and how to deal with it.Keyword: category membership, positioning, food-convenience retail DAFTAR PUSTAKA Aaker, D.A., & Shansby, G.J. 1982. Positioning Your Product. Business Horizons, Vol. 25 May/June, pp.56-62. Ander, W.N. and Stern, N.Z. 2005. Winning at Retail. Beijing : Publishing House of Electronics Industry. Anderson, J.R. and Bower, G.H. 1973.  Human Associative Memory. Washington DC : Winston & Sons. Collier, David A., and Meyer, Susan M. 1995. A Service Positioning Matrix. International Journal of Operations & Production Management. Vol. 18 No. 12. pp. 1223-1244. Crawford, F. and Matthew, R. 2002. The Myth of Excellence. Beijing: China Citic Press. Deese, J. 1965.  The Structure of Associatiations in Languange and Thought. Baltimore. MD : John Hopkins Press. Dillon, W.R., Domzal, V. and Madden, T.J. 1986. Evaluating Alternative Product positioning strategies. Journal of Advertising Research. August/September, pp. 29-35. Fei, Li., Bu, Mi., Gao, Wang., and Xiang, Li. 2010. An Empirical Study on the Positioning Point of Successful Retail Enterprises in China. Nankai Business Review International Vol. 1 No. 2, pp. 152-165. Freud, S. 1924.  Collected Papers. London: Hogarth. Fuchs, Christoph., &  Diamantopoulos, Adamantios. 2010 Evaluating the Effectiveness of Brand-Positioning Strategies from Consumer Perspective. European Journal of Marketing Vol. 44 No. 11/12, 2010 pp. 1763-1786 . Galton, F. 1880. Psychometric Experiments. Brain. Vol. 2. Pp. 149 – 62. Javalgi, Rajshekhar (Raj) G., Joseph, W. Benoy.,  and Gombeski, William R. Jr. 1995. Positioning Your Service to Target Key Buying Influences: The Case of Referring Physicians and Hospitals. Journal of Services Marketing Vol. 9 No. 5 1995 pp. 42-52. Kalafatis, P. Stavros., Tsogas, Margos H., & Blankson, Charles. 2000. Positioning Strategies in Business Markets. MCB University Press : Journal of Business & Industrial Marketing, Vol 15 No. 62000, pp. 416-437. Kalra, A., & Goodstein, R.C. 1998. The Impact of Advertising Positioning Strategies on Consumer Price Sensitivity. Journal of Marketing Research. Vol. 35 No.May, pp.210-24. Keller, K.L. & Lehmann, D.R. 2006. Brands and Branding: Research Findings and Future Priorities. Marketing Science, Vol. 25 No. 6, pp. 740-59. Keyt, John C., Yavas, Ugur and Riecken, Glen. 1995. Importance-Performance Analysis A Case Study in Restaurant Positioning. International Journal of Retail & Distribution Management, Vol. 22. No. 5. pp. 35-40 Kotler, Philip & Amstrong, Gary. 2008. Prinsip-prinsip Pemasaran. Edisi 12. Jakarta : Erlangga. Kotler, Philip. 2000. Marketing Management. New Jersey : Prentice Hall. Kotler, Philip. 2003. Marketing Management. New Jersey : 11th ed. Pearson Prentice-Hall. Upper Saddle River. Levy, Michael & Weitz, Barton A. 2007. Retailing Management. New York : McGraw-Hill Irwin. Lusch, Robert., Dunne, Patrick M., & Carver, James R. 2011. Introduction to Retailing. South-Western : Cengage Learning. Marsden, P. 2000. The Werther Effect. Doctoral Thesis. Brighton: University of Sussex. Nasir, Moh. 1999. Metode Penelitian. Cetakan Keempat. Jakarta: Ghalia Indonesia. h 63. Pham, M.T., & Muthukrishnan, A.V. 2002. Search and Alignment in Judgment Revisions: Implications for Brand Positioning. Journal of Marketing Research, Vol. 39 No.1, pp.18-30. Philip., Keller, Kevin Lane., Koshy, Abraham., Jha, Mithileshwar. 2010. Crafting the Brand Positioning. http://www.mdi-marquity.com [diakses 12 Juli 2011]. Ries, A.L. and Trout, J. 1986.  Positioning: The Battle for your Mind. London : McGraw-Hill. Simamora, Bilson. 2004. Riset Pemasaran: Falsafah, Teori, dan Aplikasi. Jakarta : PT. Gramedia Pustaka Utama. h 88 – 120 dan 231. Szalay, L. and Deese, J. 1978.  Subjective Meaning and Culture: An Assessment through Word Associations. Hillsdale, NJ : Lawrence Erlbaum Associates. Wagner, W., Valencia, J. and Elejabarrieta, F. 1996.  Relevance Discourse and The ‘Hot’ Stable Core of Social Representations: A Structural Analysis of Word Associations.  British Journal of Social Psychology, Vol. 35, pp. 331-52. http://corp.7-eleven.com/NewsRoom/2009. 7-Eleven, Inc. Partners with PT. Modern Putraindonesia in Master Franchise for 7 Eleven® Stores in Indonesia. [7 Maret 2011] 
Analisis Pengaruh Kualitas Layanan Internet Banking dan Tingkat Kepuasan Terhadap Loyalitas Nasabah Pada PT Bank Rakyat Indonesia (Persero) Tbk Kantor Cabang Pembantu Jamsostek Jakarta Huda, Ahmad Nurul; Wahyuni, Sri
Business and Management Review Vol 2, No 2 (2012): Juni
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The Internet is an ideal  media to  take any banking activities  due to it has the potential  cost savings. Internet also one of the  media used to  improve services  for the customers  in order to reach  customer loyalty.  The function  not only for giving information, but it also can handle banking transactions anytime and anywhere without being limited by time and distance.  This study  aims to determine  how the  influence of  service  quality of internet banking, customer  satisfaction,  and customer loyalty at Bank Rakyat Indonesia Sub-Branch Jamsostek. Sampling  technique used was  nonprobability  sampling method.  There 105  respondents were given questionnaire. The analysis of data is using SEM analysis (Structural Equation Modeling) with AMOS program.  The results indicated that the variable of service quality of internet banking has positive and significant influence on customer satisfaction. Customer satisfaction has negative significantly correlated with customer loyalty. This result confirms that the service quality of internet banking has no significant direct influence on customer loyalty but it has a significant influence indirectly through customer satisfaction as mediating (intervening variable). Key Words: Internet Banking, Service Quality, Satisfaction, Loyalty.
Evaluasi Kinerja Reksa Dana Saham Di Indonesia Menurut Metode Sharpe, Treynor dan Jensen Serta Perbandingan Return Reksa Dana Saham Dengan LQ45 Periode Januari 2009 – Juni 2010 Ibad, Akromul; Adhidarma, Adrianus
Business and Management Review Vol 2, No 2 (2012): Juni
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  The purpose of this research is to measure the performance of Equtiy mutual fund by the method of Sharpe, Treynor and Jensen and compare Equity mutual fund return with return of LQ45.The theories used in this research related with the investment, risk, return, and portfolio. Equity Fund performance measurement based on the method of Sharpe, Treynor and method of Jensen's  is also one of the crucial theory base. Within the framework of thought, Equity Fund Return, LQ45 Return, Return of SBI, and the risk (standard deviation and beta ) will affect the performance of  Equity Fund. The object of this research is the Equity Fund that registered in the period January 2009 to June 2010, LQ45 index and SBI interest rate (BI Rate) period from January 2009 until June 2010. Research variable is Net Asset Value, LQ45, SBI interest rate, and return. Where SBI interest rate (BI Rate) serves as the Risk Free Return. This research uses 24 of the Equtiy Fund recorded during the period January 2009 to June 2010. Data processed by calculating the average return LQ45, the average return of Equity Fund as a whole or sub-period, the average return of SBI, and risk calculation of beta and standard deviation. Based on the results of data processing, the performance of Equity mutual fund  can be measured by the method of Sharpe, Treynor and Jensen. Then, perform the comparison of mutual fund returns with returns LQ45 Shares (which represents the market return) The final result of all the research shows the whole period, the product Panin Dana Maksima showed the best performance based on the three methods.Meanwhile, BNI Dana Berkembang as the worst performance based on these methods. In calculating the performance of the Fund Shares that will be used as investment vehicles, can use the method of Sharpe, Treynor and Jensen, so investors are keen to see the performance of Equity Mutual Fund. Key words : Equity mutual fund, method of Sharpe, Treynor, Jensen, Return of LQ45
Analisis Faktor Perilaku Konsumen terhadap Atribut Produk dalam Keputusan Pembelian Food Consumer Product Djamaris, Aurino RA
Business and Management Review Vol 2, No 2 (2012): Juni
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This research is to identify the factors which determine consumer purchase decision process on food consumer products (menthol cigarette), identifies the attributes that are considered important by consumers on food products consumer products, and analyze consumer attitudes on the attributes of consumer products food products. The study used primary data obtained from consumer  of  food consumer product  that  ever or used products available on the market (supermarkets etc) analyzed using factor analysis and  analysis of  consumer  attitude  using Fishbein Multi-Attributes approach.  The results showed that there are seven factors derived from 19 variables known to determine a person's  purchase  decision process  of  food consumer products. In the analysis of the attitudes found that nine attributes of the food consumer products fully considered  and deemed important by consumers, enthol flavor attributes are the most important attributes in buying a food consumer productby consumers.    The data were collected from individual  that were willing to participate in the study and not randomly selected; the possibility that the samples were atypical of a more general population exists. This study reviewed only by the theory of marketing and the theory of consumer behavior (non-marketing).    The factors found and the attributes that are considered most important products can assist manufacturers in identifying what is actually desired by consumers.Management interest in  purchase decision  of  a food consumer product by consumersshould pay attention to  menthol flavor attributes the most important attributes in  purchase decision.  By revealing the value factors associated with Consumer Behavior on Purchase Decision Attributes of Food  Consumer  Products, the study contributes to richer understanding of what factors should be considered on attributes of food consumer  product purchase decision . Keywords: Purchase Decision, Customer Behavior, Factor Analysis, Product Atribute, Menthol Cigarette
Model Berbasis Agen untuk Pengenalan Produk Baru dengan Twitter Bintoro, Bambang Purwoko Kusumo
Business and Management Review Vol 2, No 2 (2012): Juni
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In less than 4 years since its introductions, Twitter has become the fastest growing social networking tool. Working very much the same as a blog, it has been used widely by businesses as well as individuals to share information, introduce new product/idea, etc.  Using Twitter,  a person  has the choice whether or not to  forward  (re-tweet)  the message from/to his/her friends or social networks that he/she belongs to. The result of online survey revealed some factors (taste, price, availability, packaging and image), which affect the decision to re-tweet or not an information pertaining new food product following the Diffusion of Innovations model.  On the other hand, the independent and autonomous behavior of members in a social network such as Twitter satisfies the characteristics of Agent Based Simulation model. Using NetLogo software, this paper aims to  disclose  the result  of  an  Agent Based Simulation model which showed when and why a person will or will not re-tweet a message that he/she received from his/her friends or social networks that he / she belongs to by applying the concept of Diffusion of Innovations Keywords: twitter, social networking, agent based simulation, diffusion of innovation, NetLogo
Pengaruh DER, ROA dan EPS Terhadap PBV Junaeni, Irawati; Megawati, Andriani
Business and Management Review Vol 2, No 1 (2011): Desember
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Price to Book Value (PBV) is the ratio of the market value of equity to the book value of equity.  This ratio is frequently used as indicator of stock price or as a tool to measure intrinsic value of stock.  There are many factors that can affect PBV fluctuation.  This study will analyze both simultaneous and individual effect of Debt to Equity Ratio (DER), Return on Asset (ROA) and Earning Per Share (EPS) to Price to Book Value (PBV). The population in this study consists of all banks that are listed in Bursa Efek Indonesia (BEI) in the period of 2006-2010.  The sampling technique being used is ‘purposive sampling’ that results in 16 banks to be analyzed. There are four hypotheses developed in this study, i.e.: firstly, there is significant effect of DER, ROA and EPS to PBV; secondly, there is significant effect of DER to PBV; thirdly, significant effect of ROA to PBV and the last one is significant effect of EPS to PBV. Analysis method being used in this study is multiple regression analysis.  F-test is used to evaluate the simultaneous effect of independent variables to dependent variable and t-test is used to evaluate partial effect of each independent variable to dependent variable with level of significance 5%. As a result of this study, it is concluded that DER and ROA, individually, has no significant effect to PBV with level of significance more than 5%, while EPS has significant effect to PBV with level of significance less than 5%.  The simultaneous effect of DER, ROA and EPS to PBV is represented by adjusted R-square value at 0.174 or 17.4 %, and the remaining 82.6% is affected by other factors that are not emphasized in this study. The other factors could be as follows :Size, Devidend Payout Ratio (DPR), Beta Stock, Net Profit Growth Rate, Economic Value Added (EVA), Price Earning Ratio (PER), Loan to Deposit Ratio (LDR) and many other factors. Keywords : Debt to Equity Ratio (DER), Return of Asset (ROA), Earning Per Share (EPS) and Price to Book Value (PBV).

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