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Analisis financial distress dan pengaruhnya terhadap harga saham perusahaan sektor pertanian terdaftar di bursa efek indonesia
Get PDFThe agricultural sector company recorded negative stock price index growth throughout 2017 with a negative growth rate reaching 13.30% and in July 2018 (Ytd) sectoral stock price index growth of agriculture sector was the lowest among other eight sectoral stock price index on Indonesia Stock Exchange (IDX). The decline in the growth of sectoral stock price index could raise questions by investors and prospective investors in the agricultural sector towards the going concern of the business. It is very important for stakeholders to be concerned when company has poor performance of efficiency, profitability, liquidity and solvency. This is related to the potential of financial distress where companies have difficulty meeting their obligations and other contractual obligations. This study aims to analyze the condition of the company based on the stages of the financial distress process, the effect of financial ratios on financial distress conditions, and the effect of financial distress on the company's stock price in the agricultural sector company.
Analysis conducted to find out whether there is a decreasing financial performance as symptoms of financial distress. This analysis condeucted by identifying occurrence of early impairment, deteriorating of performance, and cash flow problems. This study uses a debt to service coverage ratio as a proxy for financial distress that describes the company's ability to generate funds to fulfill its obligations. Financial ratios that are predicted to be adequate against financial distress are used as independent variables and panel data regression analysis is performed to determine the magnitude of each variable to DSCR. In addition, related to the decline in the growth of the sectoral agricultural stock price index, an analysis of the effect of financial distress and stock prices was carried out through panel data regression. The dependent variable in this research sub-category is added by economic factors which are assumed to also influence stock prices.
Based on the analysis of the mapping of the decline in financial performance conditions, the increase in the decline in performance occurred significantly in 2015 where the external risk factors of agricultural companies namely drought, decreased export demand, and the low Rupiah exchange rate occurred simultaneously, which significantly affected the performance of agricultural sector companies company plantation sub-sector. Based on the research conducted, it was concluded that the efficiency, profitability, liquidity and solvency ratios, each represented by net operating income to total assets (NOI / TA), retained earnings to total assets (RE / TA), working capital to total assets (WC / TA) and book value of equity to total liabilities (BE / TL) have a significant influence on financial distress. However, financial distress does not describe the condition of stock performance because it does not have a significant effect on stock prices. Based on this, it is important for management and other decision makers to look at the financial ratios intended to quickly and precisely overcome financial distress conditions. Although empirically it has been concluded that in general there is a downward trend in financial performance and financial distress conditions in agricultural sector companies, these are not the factors that reflects a decline in the growth of the stock price index. Based on the panel regression results on factors that affect stock prices, stock prices are more influenced by macroeconomic factors.
With the results of this study, it can be concluded that identification of the factors that trigger the emergence of financial distress is important to determine appropriate managerial follow-up in order to improve company performance and assess business prospects as a source of investment decisions. In addition, further research is needed regarding the measurement of financial distress through other indicators or proxies so that knowledge of financial distress measurements can become more comprehensive
Analisis efisiensi dan produktivitas bank umum syariah di indonesia
Get PDFSharia banking in Indonesia has been established for more than three
decades, but until 2017 the market share of Sharia Commercial Banks in
Indonesia is only 3.9%. The relatively slow growth of Sharia Commercial Banks
needs to be assessed in terms of efficiency and productivity because Indonesia has
a vision for the development of Sharia banking in the future.
The purpose of this study is to analyze the efficiency and productivity of
Sharia Commercial Banks in Indonesia during 2014-2017. The intended
efficiency is the technical efficiency and productivity in question is the Total
Factor Productivity. The method used is nonparametric statistical Data
Envelopment Analysis (DEA) with the Intermediation approach assuming
Constant Return to Scale (CRS). Efficiency analysis produce efficiency scores and
productivity analysis produces the Malmquist Productivity Index (MPI).
The data used in this study is secondary data in the form of panel data which
is a combination of cross section data in the form of 12 (twelve) Sharia
Commercial Banks in Indonesia and time series data in the form of 2014-2017
annual data. Input variables are Deposit, Fixed Asset and Labor Cost. Output
variables are Loan, Current Asset and Other Operating Income.
The results of an analysis of 12 Sharia commercial banks in Indonesia
during 2014-2017 namely the average efficiency level of Sharia commercial
banks increased from 82.4% in 2014 to 84.9% in 2015, increased to 90.1% in
2016 and to be 99.6% in 2017. But the trend of increasing efficiency is not
followed by a trend of increasing productivity. Sharia commercial bank
productivity in 2014-2015 increased by 8.5%, increased in 2015-2016 by 14.1%,
but decreased in 2016-2017 by 8%. On average, the productivity of Sharia
commercial banks in Indonesia during 2014-2017 was 4.4%.
Managerial implications that can be conveyed are that in general, Sharia
commercial banks should increase their current asset portfolio, reduce labor costs
and reduce the portion of ownership of fixed assets with the rental system. Sharia
commercial banks also need to expand their market share by expanding financing
and optimizing digital banking services or merging
Pengembangan perusahaan jasa keselamatan dan kesehatan kerja pt mutiara mutu katiga di depok jawa barat
Get PDFPT Mutiara Mutu Katiga is a service company of Occupational Health and Safety in the field of OHS certification. PT Mutiara Mutu Katiga provides certification such as Certification of General OHS Experts, Auditor OHS Management System Certification, Construction OHS Experts Certification, Fire OHS Experts Certification, Electric OHS Experts Certification, Certification of Quality Management System, Certification of Environmental Management System, Certification of Occupational Health and Safety Management System and Certification of Food Safety Management System. In the business competition, PT Mutiara Mutu Katiga created a program that never exist before, the program is 6 in 1 Certification. The high market demand for 6 in 1 Certification program make competitors offer the same program and make many parties interested to set up service company of Occupational Health and Safety with the same program. However, until now the company has not been able to expand market. While the competitor expanded 6 in 1 certification program in 24 major cities. It’s become big problem that must be overcome by PT Mutiara Mutu Katiga. The main purpose of this research is to analyze development of PT Mutiara Mutu Katiga as services company of Occupational Health and Safety by doing research at company model, business environment condition and improvement program that must be performed. This research using primary data and secondary data through observation, questionnaires, Focus Group Discussion, literature study and documentation study. The technique sampling and sample using Model Business Canvas and SWOT Analysis. The mapping of Business Model Canvas showed that customer segment of PT Mutiara Mutu Katiga is college student, fresh graduate and workers. Based on the result of SWOT Analysis and Focus Group Discussion there are six elements that must be improvement that is customer segment, value proposition, channels, revenue streams, key activities, key partnership
Kajian penerapan strategi investasi aktif di pasar modal indonesia
Get PDFThis aim of this study is to get practical knowledge about the implementation of an active investment strategy to face a business cycle changes in Indonesia Stock Market. The implementation of an active investment strategy in this study uses several assumptions in assets allocation change. This assumptions refer to change that occurs in macroeconomic variables that are used as business cycle indicator. The business cycle indicator that used in this study is BI rate variable. The indicator variable analysis, which uses Hamilton Filter, indicate that BI rate variable has 1.75 year/cycle.
The simple rotation strategy uses an IHSG instrument and bonds as a component of the portfolio construct, while the sector rotation strategy uses sector indexes instrument as a component of portfolio construct. The quotation of asset portion is analyzed with Markowitz model approach and the help of Ms. Excel Solver based on business cycle condition that is happening in particular period. The composition of assets in simple rotation strategy at trough period are 98.36% IHSG and 1.64% Bond, while the sector rotation is 17.79% JKAGRI, 50.40% JKCONS, and 31.81% JKFINA. Otherwise, the asset composition of simple rotation at peak period is 69.65% IHSG and 30.35% Bond, while the sector rotation is 0.45% JKAGRI, 57.71% JKCONS, 38.59% JKINFA, and 3.25% JKTRAD.
The analysis performance of the active portfolio is used to find out the return from procedure implementation of an active trading strategy that is used in this study. The analysis tools that are used contain several measurements such as Jensen’s Alpha, Treynor Measure, and Sharpe Ratio. Furthermore, the comparative analysis of performance between active and passive portfolio is made Graham-Harvey Measure. The result of this study indicates that a simple rotation strategy generates an optimal performance with sharpe ratio of 27.98% in exchange rate assumptions as a shifting assets indicator with ±1% change of exchange rate growth. The sector rotation strategy generates an optimal performance with sharpe ratio of 23.55% in inflation assumptions as a shifting assets indicator with ±2% change of inflation growth.
Strategi peningkatan minat petani menggunakan produk dan jasa keuangan formal dalam rangka keuangan inklusif
Get PDFLow levels of financial inclusive Indonesia compared to other ASEAN countries, one of which is contributed by the absence of ownership savings low-income groups (the bottom of pyramid) on financial institution formal, or as a result of low access to products and services formal financial institutions such as banks, insurance are, pension funds, pawnshops, stock market. The community group is from about 62 per cent of Indonesian society, including farmers with small land area.
Efforts to improve inclusive finance in lower-income societies, including small farmers' groups, will be difficult to produce if only driven by the supply side. While the demand side, which includes behavior in financial management, perception and preference for financial products and services and psychographical aspects related to motivation and interest in formal finance has not received adequate attention. Increasing community inclusive finance is not sufficient to be approached only from the supply side through the provision and ease of access of various financial institution products and services according to the needs of the community, but the constraints on the demand side of certain groups need to be deeply expressed. To design a Strategy to increase the adoption or acceptance of such community groups to the innovation of financial services offered, relevant information is required and at the same time getting inputs to improve the current policies or strategies.
This study aims to measure the level of financial inclusion and to identify the level of knowledge of farmers related to inclusive finance that includes access, usage levels and the quality of their use. Studying needs, problems and expectations as well as factors affecting farmers' interest in financial products and services especially services And examine the influence of factors that play a role in increasing the interest of farmers using products or services of financial institutions. Testing of research model is done by using Structural Equation Modeling (SEM). Meanwhile, to get other information done with descriptive analysis. The research location includes several centers of agriculture in Java covering 3 Provinces namely West Java, Central Java and East Java.
The result of Structural Model of Increasing Interest on LKD-LAKU PANDAI shows LKD has significant and negative influence to Access, LKD has significant and positive influence to Interest, Comm has significant and negative influence to Desire, Interest has significant and positive influence to Desire and Desire have significant and positive influence on Access . For inclusive financial improvement model shows that latent access variables significantly and positively affect the Usage and Quality have no significant effect on Usage.
The first hypothesis to test the effect of LKD on Access can explain the value of the influence coefficient or loading factor of -0.37 with t arithmetic -2.16. Absolute value t arithmetic greater than t table with alpha 5% of 1.96 means LKD has a significant and negative impact on the access.
The second hypothesis to examine the effect of LKD on interest can explain value of the effect coefficient or loading factor of 0.79 with t arithmetic 8.16. Absolute value t arithmetic greater than t table with alpha 5% of 1.96 means LKD has a significant and positive effect on the interest.
The third hypothesis to examine the influence of LKD on desire can explain value of the influence coefficient or loading factor of -0.18 with t arithmetic -1.19. Absolute value t arithmetic smaller than t table with alpha 5% of 1.96 means LKD no significant and negative impact on the desire.
The fourth hypothesis to test the effect of communication on interest can explain value of influence coefficient or loading factor of 0.01 with t count 0.42. Absolute value of t count is smaller than t table with alpha 5% of 1.96 means that communication does not have a significant and negative effect on the interest.
The fifth hypothesis testing the effect of communication on desire can explain value of the effect coefficient or loading factor of -0.06 with t arithmetic -2.53. Absolute value t arithmetic greater than t table with alpha 5% of 1.96 means communication has a significant and negative effect on the desire.
The sixth hypothesis testing the effect of awareness on interest can explain the value of the effect coefficient or loading factor of -0.10 with t arithmetic -0.95. Absolute value t arithmetic smaller than t table with alpha 5% of 1.96 means awareness does not have significant effect on the interest.
The seventh hypothesis testing the effect of interest on desire can explain value of the effect coefficient or loading factor of 1.26 with t arithmetic 7.12. Absolute value t arithmetic greater than t table with alpha 5% of 1.96 means the interest has a significant and positive effect on the desire.
The eighth hypothesis testing the influence of desire on access can explain value of effect coefficient or loading factor of 0.90 with t arithmetic 6.01. Absolute value t arithmetic greater than t table with alpha 5% of 1.96 means desire has a significant and positive effect on the access.
The ninth hypothesis can show that the latent access variables significantly and positively affect the Usage with the coefficient of 0.61 and t count 4.53 greater than t table (1.96). This indicates that farmers do not pay much attention to the quality of LKD services to be able to use LKD products, because the most important thing for farmers is their ability to access LKD products. Farmers consider that the introduction of digital financial institutions is more important in the delivery of information on how to use LKD products.
Result of Structural of Interest Improvement Model to LKD-LAKU PANDAI shows LKD has significant and negative influence to Access, LKD has significant and positive influence to Interest, Comm has significant and negative influence to Desire, Interest has significant and positive influence to Desire and Desire has significant and positive influence on Access . For inclusive financial improvement model shows that latent access variables significantly and positively affect the Usage and Quality have no significant effect on Usage
Analisis pola pergerakan saham untuk identifikasi saham-saham rujukan dengan teknik penggerombolan (clustering) (studi kasus: saham-saham terdaftar di bursa efek indonesia)
Get PDFGlobal financial crisis that happened on 2008 in United States has triggered a fluctuation in money market that spread to all over the world. Indonesian government has been forced to stop all trading activities on 8-10 October 2008 in order to compress the chaos. The research aimed to determine clustering on stocks with similar pattern of movement based on stock closing price movement, before and after global crisis period, used for investor reference in term of investment decision making in order to reduce the risk which come from the fluctuation. Time Series Clustering method was used to determine the optimal number of cluster based on pattern resulted by time series data. The research showed that the series of stock data formed three cluster based on stock closing price movement for both period, before and after 2008 crisis. The dendogram test for both period gave a value for entanglement 0.4, which was close to zero.
This value showed that the cluster formed by the series of stock data for period before global crisis had a good alignment with the cluster formed by the series of stock data for period after global crisis. We can conclude that global crisis gave almost similar impact to stocks in the same cluster. Market capitalisation and leverage can be used by investor as general guidance for initial selection of stocks.
Leading stocks identification provided the information that generally sub-cluster 1 member stocks refer to INDF, BRNA, and GGRM. While for sub-cluster 2 generally refer to MYRX, HMSP, and SCMA
Pengaruh corporate governance terhadap likuiditas saham pada perusahaan-perusahaan subsektor perbankan yang terdaftar di bursa efek indonesia
Get PDFThe financial sector is the sector that has the highest market capitalization and has the second largest daily trading frequency. As one of the subsector in the financial industry, in 2016, the banking industry has a total capitalization 90.64% of the financial sector. This shows that investor are interested in stocks of the banking industry. The implementation of good corporate governance is crucial in the banking industry because bank has its function as intermediary, making them as a high level risk industry. Moreover, according to the data, the poor corporate governance is one of the main causes of the 1997-1998 Asian Financial Crisis, including Indonesia. This fact has made the quality of corporate governance as an important thing that investors consider when investing. Liquidity is an important factor for both investor and firm, if an investor owning an illiquid stock it will be harder for them to sell and if a firm has an illiquid stock it will make investing to them becomes less attractive. This study explores the effect of corporate governance on stock liquidity in Banks.
This research was done using 26 banks listed in BEI as samples, the method used to choose the bank is by using purposive sampling method. This research uses time series data from 2012-2016. The quality of corporate governance is scored using 21 indicators from OJK regulation, for liquidity Amihud illiquidity estimate and stock turnover are used as proxies. Variable of size, leverage, return volatility, and growth are used control variable. The use of control variable becoming important to reduce the bias of research result.
The analysis of the data used in this research was regresssion analysis for panel data using Eviews-9.0. Based on the result of the research, it was found that the banks in Indonesia has applied a good practice of corporate governance as defined by OJK. This shows that the relationship between board of comissioner, director and stock holder has been going well. The composition of board of comossioner has compiled with the regulation, that 50% of them are comissioner or independent party and has competence in accordance with their fields so that the function of supervision of banking operations runs optimally. Good corporate governance will increase investors’ trust so the company’s stock will be liquid. It can be seen from the test result that corporate governance has a significant negative effect on Amihud iliiquidity estimates liquidty and is significantly positive for stock turnover liquidity. Out of three corporate governance components, the components of the board of comissioners have the most significant influence on stock liquidity
Faktor-faktor yang mempengaruhi minat menjadi subscriber konten youtube channel (kasus pada konten asta and kidz)
Get PDFIn fact, the growth of Information Technology and Communication affect to almost all aspects in human life. Internet seems to deprive distance and time to get information. Currently, Internet is not only used as media of communication, but also maximize as media of marketing. Social media is much used with internet in business activity too, since it become very popular way among modern society. One type of social media is YouTube. People use YouTube to get an entertainment, tutorial, product’s review and information. It makes YouTube as a media to share many kinds of creative videos that entertain and informative. This phenomenon brings out business opportunities to make a content in YouTube Channel. AXY Studio as creator of Asta And Kidz content, has been produced and shared many kind of interesting videos in YouTube. Until Februari 21, 2019, this content had already 111.652 subscribers.
This study used “UTAUT2” model. There are 11 latents variable, such as performance expectancy, effort expectancy, social influence, facilitating condition, hedonic motivation, habit, e-lifestyle, promotion, behavioral intention to use, usage behavior, and behavioral intention to subscribe. The purpose of this study are to analyze characteristic of respondents that use YouTube Channel content, to analyze factors that affect behavioral intention to subscribe in YouTube Channel, and to formulate the management implication to increase behavioral intention to subscribe YouTube Channel content.
Data collection were conducted over four months (May-August 2018). The approaching used in this research is quantitative research with associative method. The samples of this research were Asta And Kidz users, age 7-12 years old. This study used non probability sampling and convenience sampling technique. All respondents were given an online questionnaire by google form. Likert was used as a measurement scale. Technique data process that used in this research is SEM-PLS and description analysis by PLS 3.0 software.
Based on data, it found that the majority of respondents are age 9-12 years old. From total 100 respondents, 62 percent are girls. Based on demography, there were many respondents live in Jabodetabek. The majority of Asta And Kidz users were second child and third child in their family.
Based on convergent validity test, five indicators of performance expectancy latent variable are valid, all three indicators of effort expectancy are valid, sixteen indicators of social influence are valid but four others are not valid. Three indicators of facilitating condition are valid, all three indicators of hedonic motivation are valid, all eight indicators of habit are valid, three indicators of e-lifestyle are valid, but one other is not valid. All four indicators of promotion are valid, all ten indicator variables of behavioral intention to use are valid, all ten indicators of usage behavior are valid, and all two indicators of behavioral intention to subscribe are valid.
Based on R-Square test (inner model), it found that behavioral intention to use (variable in the model) gives a value of 0.682. It means that variable in the model only gives 68.2 percent, meanwhile 31.8 percent left was from the other variable outside the model. Next, usage behavior model gives a value of 0.620. It means that variable in the model only gives 62 percent, meanwhile 38 percent left was from the other variable outside the model. The last, behavioral intention to subscribe only gives about 43.5 percent, meanwhile 56.5 percent left was from the other variable outside the model.
The result of significant test showed that performance expectancy, effort expectancy, facilitating condition, hedonic motivation, e-lifestyle, and promotion are not significant to behavioral intention to use. Beside that, habit and social influence are significant to behavioral intention to use, behavioral intention to use is significant to usage behavior, and usage behavior is significant to behavioral intention to subscribe.
The way that can be taken by creator to increase habit are creating a routine and consistant schedule on uploading new video, so the viewers know the new video uploaded schedule. The fix schedule will create the habit. While on creating social influence, the creator should have a socialization action to all viewer’s parents through Facebook and Instagram, collaborate with another youtuber, and invite viewers to shrae video that has been watching to other social media
Model intensi merchant e-marketplace dalam pengajuan online kredit mikro
Get PDFThe contribution of the micro, small and medium enterprises (MSMEs) sector to gross domestic product increased from 57.84% to 60.34% in the last five years. (Ministry of Economic Affairs 2018). Based on the contributions given, the MSMEs in the trade sector contributed the most to GDP compared to other sectors, but in the development of their business, MSMEs in the trading sector often faced several obstacles, especially capital problems. This study aimed to see the factors of merchant demographics and online business characteristics and saw its relationship with intention applying micro credit. This research applied the intention theory of the combination of Theory Acceptance Model (TAM) and Theory of Planned Behaviour (TPB) developed by the marketing mix variable.
The sampling method in this study used non probability sampling with purposive sampling technique, toward members of the Indonesian Online Business Association (APOI) who could be contacted and were willing to be interviewed online. The criteria of respondents in this research were registered as merchants or have been doing business online at e-marketplace sites for at least 6 months. The samples collected were 235 respondents or 51.53% of 456 APOI members who were successfully interviewed online. Online interview activities were held in July 2017 to October 2018. The analytical methods in this research used cross tabulation analysis and Structural Equation Model (SEM) analysis. Cross tabulation analysis to test the association relationship between demographics and online business characters with the intention of submitting microcredit, while SEM analysis to examine the causal relationship of latent variables to construct of the intention based on Confirmatory Factor Analysis (CFA). This study further provided novelty in the application of research findings in the field by developing an online credit submission system based on research findings and Focus Group Discussion (FGD) with experts / management of financial institutions.
The results of the descriptive analysis of the demographics of merchant respondents in this study were: the majority of those under the age of 36 years, male sex, had a bachelor degree, married status, Javanese ethnic and Muslim. The characteristics of merchants were the majority of respondents had run the business for more than 2 years, but did not consider online business as the main income and stated that they still relied on salaries as employees as a source of income. The respondent groups were dominated by distributors / resellers, had online transactions > 30 times per month with the value per transaction of 100 thousand - 1 million rupiah. The value of expenditure or business capital needs is a majority of under Rp 50 million per month.
The results of cross tabulation analysis of seven demographic factors indicated that only other sources of income outside of online business had significant relationship with merchant intentions. Whereas the results of cross tabulation analysis of the seven factors of online business characteristics showed that length of business online, credit submission experience and value of working capital requirements were had significant relationship to merchant intentions in online submission of micro credit.
The results of the Structural Equation Model (SEM) analysis showed that the intention to apply for credit is influenced by attitudes toward behaviour as internal factors and subjective norms and marketing mix as external factors. Ease of use perceived in credit applications was more effective than usefulness perceived and marketing mix perception in forming positive behaviour attitudes. Marketing mix communication through online business associations and e-marketplaces would form positive subjective norms. Besides attitudes and subjective norm, the marketing mix that emphasizes a fast credit process and credit products that meet the needs of merchants would increase the intention of submitting microcredit. Understanding the intentions of merchants with the marketing mix approach would be useful for marketing strategies in developing products that were proper for the needs of the target market.
The role of e-marketplace in the current micro credit online submission scheme was just limited as a promotion media of financial institutions and as an alternative media for online credit submission. E-marketplaces should be involved in the application selection process based on established criteria so that the credit application distributed to financial institutions can be monitored, proceed faster and have a greater chance of being approved. Outside parties who also play a role in this research related to subjective norms was online seller associations because their role is quite important when introducing online businesses to MSMEs. The association should continue its role in assisting merchants to be motivated to develop an online business by applying for micro credit. For this role, the association should be involved as a merchant representative by financial institutions, e-marketplaces or the government in order to channel KUR through e-commerce media.
Research using data from online seller association namely APOI (Asosiasi Pebisnis Indonesian Online Indonesia) members is an initial research to get a general overview of merchant e-marketplace. Further research involving the e-marketplace that has a merchant database could provide merchant intentions that are more specific to the type of business, types of products sold and business scale. Further research using the Unified Theory of Acceptance and Use of Technology (UTAUT) model can provide an overview of the actual behaviour of merchants (actual behaviour) in applying for online credit through e-marketplace
Rancang bangun alih teknologi lembaga penelitian pemerintah
Get PDFUtilization of intermediate technology contributes significantly to national competitiveness. Agencies, in this basic cycle, are technology producer, technology user, and household or industrial user. The connection between actors and stakeholders of technology transfer process which moves from internal and external parties and vice-versa, are essential in achieving sustainable technology transfer process. This purpose of this study was to evaluate existing status and expectation from expertise which leads to the design of strategy of technology transfer that meets stakeholder’s requirement.
The scope of this research is limited to public sector technology transfer which occurred in the private sector, societies or individuals. Creating technology-based new-business is viewed from the perspective of a public institution as technology provider. As such the involvement of private sector in the system, is viewed as consumers of public-technology-provider.
This research utilized Analytical Hierarchy Process (AHP, Structural Equation Modeling (SEM) and Strategy Factor Analysis Summary (SFAS). Strategic choice in technology transfer system is built up through AHP. This approach is a top-down that flow from policy-maker and science-authorities to technology-user. It is an inductive analysis which analyses the statement, responds and opinion of experts to the ideal condition of technology transfer. It was followed by SFAS approach which emphasize on technology transfer process in bio-refinery. This deductive approach pertains the measurement in technology transfer in the level individual actor. Factor strategies in this approach utilize the similar measurement to Bayes Probability. Both tools are bonded in SEM. All variables in which measured in tools are derived from technology transfer taxonomy and literature study.
By employing AHP that include three hierarchy, this research shows conditional state in strengthening technology transfer system as increasing of patent registered (0.34898), market creation (0.31237), providing jobs (0.319329), increasing eco-product and achieving efficiency in the manufacturing process (0.07165). In the Lower structure shows the role of research and development division under technical ministerial (0.24890), government-funded research institutes (0.21343), University (0.19519), technology service of non-government organization (0.12290), research and development division in the firm (0.11801), and foreign actors (0.10158). Both structures lead to alternatives decision for setting up technology business incubator and science & Technology Park (050414), establishing a representative office in foreign country (0.24344), strengthening existing public research institutes (0.16648), and increasing budget allocation for research and development (0.8594).
Measuring external and internal factor of technology transfer was conducted to validate the first method by utilizing strategic factor analysis summary (SFAS) in bio-refinery utilization. Strength factor of transferring technology in this field are the availability of material resources (0.1325) and incremental market potential (0.1025). On the other side, the weaknesses factors are lack coordination between related government bodies (0.11375) and rejection to cooperate from industries (0.1000). The opportunities factor in developing this technology are relating to geostrategy of Indonesia (0.1062) and growing global interest to Asia market (0.0987) while threats factor was less unstable of economic and politic environment (0.1225) as well as lack of power in science authority (0.3648).
The nature and significance of relation between both latent variable and observed variable is measured by utilizing PLS-SEM. Competitiveness based technology transfer which is influenced positively and significantly by Government (3.679), Related and Supporting Industries (2.244), Factor Conditions (2.108). Three variables that influence positively to technology transfer besed competitiveness are Factor Conditions (1.744), Firm Strategy, Structure and Rivalry (0.318), Chance (0.095).
Output from three analyses respectively are utilized in crafting architectural strategy of technology transfer. The main fragment of this structure is taken from the S-Curve technology transfer process equipped by additional feedback loop which indicate technology transfer as two-way communication. The above and below the timeline is externalization and internalization of technology transfer process. The S-curve intersects the horizon in three point and four phase of technology transfer process. The intersection represents idea development, prototyping and product commercialization. Four phase this process are technology producers, technology consumers, product producers and product consumers. These phases equipped by the information of actors, It equipped with actors, cash flow, source of funding and environment as the essential elements of technology transfer