KINERJA
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ANALISIS KINERJA PERUSAHAAN PRE-SEASONED EQUITY OFFERINGS
Get PDFThe aim of this research is to prove whether earnings management persists in prior to Seasoned Equity Offerings (SEO) at the Jakarta Stock Exchange. This research is conducted by comparing financial performances during periods before SEO of companies which execute seasoned equity offerings to those which did not. Samples for this research are companies listed in the Jakarta Stock Exchange during 1997 –2002. The hypothesis for this research is that the financial performances of companies executing SEO is higher than those companies not executing SEO. Proxy for SEO is the event of right issue. Current Ratio (CR), Debt Equity Ratio (DER), Return On Investment (ROI) ratio, Net Profit Margin (NPM) ratio, and Operating Profit Margin (OPM) ratio are used to assess financial performance. 47 companies make thesample of companies executing SEO during 1997 – 2002. For comparison, non-SEO companies are chosen from companies of similar industries and size as those of SEO companies.This research provides evidence that, on average, performances of companies executing SEO are higher than those companies not executing SEO, even though the difference is statistically insignificant. The conclusion for this research is that there are no significant financial performance differences between SEO companies and non SEO companies in the period prior to SEO. The indications of earnings management inthe event of SEO is found in a small numbers of companies.Keywords: Seasoned Equity Offerings, Right Issue, Earnings Management, and Jakarta Stock Exchang
PRAKTIK-PRAKTIK MANAJEMEN SDM STRATEGIK: PENGUJIAN EMPIRIS UNIVERSALISTIK DAN KONTINJENSI DALAM MENJELASKAN KINERJA ORGANISASIONAL
Get PDFThere are several perspectives to explain the relationship between strategic humanresources management practices and organizational performance. This article discusses the controversy within each perspective, which is universalistic and contingency perspectives. This article tries to replicate some of Delerey and Doty’s research on modes of theorizing in strategic human resource management. Strategic human resource management practices are identified into seven practices and are used to develop argumentation from that individual perspective. Organizational performance is measured by financial performance. The results show that argumentations from those two perspectives can explain the variation levels within financial performance.Keywords: strategic HRM, universalistic, contingency, organizational performanc
HUBUNGAN PERTUKARAN PEMIMPIN-ANGGOTA DENGAN KEPUASAN KERJA DAN KOMITMEN ORGANISASIONAL YANG DIMEDIASI OLEH KEADILAN ORGANISASIONAL
Get PDFThis research was developed and conducted to test a model for examining the influence ofleader-member exchange (LMX) on job satisfaction, organizational commitment and organizational justice that was used as mediating variables. The subjects of the research was one hundred and seventy nine employees in four oil companies. The application of structural equation modelling on the predicted model showed that leader-member exchange (LMX) affected job satisfaction and organizational commitment through its effects on organizational justice.Keywords: LMX, organizational justice, job satisfaction, organizational commitment
FAKTOR-FAKTOR YANG MEMPENGARUHI KEPERCAYAAN DAN LOYALITAS NASABAH PERBANKAN DI SURABAYA
Get PDFLed by foreign banks operating in Indonesia, many banks have switched their mainbusiness activities from corporate banking business to individual customer banking activities. This is due to the deteriorating general economic condition in Indonesia at the present time. Individual customer’s base operation for banking communities proved to be suitable and giving good returns. However, as many banks operating in the same basis, competition among banks has mounted considerably. One must be able to achieve trust and loyalty from their valued customers. This article tries to understand how bank in Surabaya should get these basic elements of trust and loyalty.Keywords: corporate banking business, individual customer banking, trust, loyalty
KETEGARAN UPAH NOMINAL UNTUK TURUN: BUKTI EMPIRIS EKSPERIMEN
Get PDFThis study aims to analyze the downward nominal wage rigidity and the difference in degree of downward nominal wage rigidity between the economy with unemployment benefits and the economy without unemploymentbenefit. An experimental method in the form of nominal wage bargaining between employees and employers was aplied in this study. The subject of the experiment are the alumni of UPN “Veteran†Yogyakarta who havework experience at least 1 year. Panel data regression and t- test was employed to make conclusions from the experiment. Results show that there is evidence of downward nominal wage rigidity. Nominal wages in theeconomy with unemployment benefits was proved to be more rigid to decrease than the nominal wages in the economy without unemployment benefit
DAMPAK KRISIS EKONOMI DAN MASUKNYA BANK UMUM PADA PASAR KREDIT USAHA MIKRO KECIL TERHADAP KINERJA BANK PERKREDITAN RAKYAT (BPR) DIY
Get PDFThe economic crisis and the entry of commercial banks in the small micro-credit market is estimated to have an impact on rural banks (BPR) business. By using time series data, and using performance measures such as the performance of rural banks lending, third-party funds (savings and deposits), lending rates, and spreads, the study concluded that the entry of commercial banks in the small micro-credit markets do not interfere (negative affect) the performance of BPR DIY. In terms ofthe economic crisis, the response performance of BPR DIY show mixed reactions. In terms of lending and third-party funds, the economic crisis actually makes BPRis able to raise his credit and increase the ability to collect deposits. While in the case of the determination of interest rates, the crisis negatively affect the interest rate (lower lending rates). Similarly, for a variable spread, the crisis also have negative impacts, which means that with the economic crisis, the ability of BPR take spread decreases.Keywords: rural bank, micro and small enterprises credit, crisis econom
TIPE PEMISAHAN DAN PENGARUHNYA TERHADAP NILAI ASET BANK UMUM SYARIAH HASIL PEMISAHAN
Get PDFThe objective of this research is to analyze the impact of spinoff type to total asset in spinoffs banks.The analysis technique used in this paper is panel regression with fixed effect model. The result shows that thespinoff type didn’t have an influence to total asset in spinoffs banks. This research also shows that the spinoffpolicy is to be evaluated because the economy of scale from the existing Islamic business units is still small. Thespinoff policy is one of the business strategies that can be done to develop the Islamic banking industry, but thispolicy is not the final goal of Islamic banking industry. The most important thing today is to create a healthy andcompetitive Islamic banking industry.Keywords: spinoff type; panel regression; islamic banks, bank asse
PENGARUH PERILAKU PEMIMPIN TERHADAP KEYAKINAN BAWAHAN PADA KEPEMIMPINAN TRANSFORMASIONAL: SUATU PENDEKATAN MODEL SYNCRETICAL
Get PDFThis research is intended to analyze the influence of leader behavior on follower belief in transformational leadership based on syncretical model of charismatic/transformational leadership. There are three problems to discuss on this research: (i) What the displays empathy and dramatizes the mission of leader behavior has influence on the inspiration of follower?, (ii) What the projects self-assurence and enhances the leader’s image of leader behavior has influence on the awe of follower?, (iii) What the assures followers of their competency and provides followers with opportunities to experience success of leader behavior has influence on the empowerment of follower?The number of the respondent is 119 graduate students of Magister Management Program taken from three (3) state and private universities in Jogjakarta. The questionnaire developed by Behling and McFillen (1996) was used to collect the data. Eighteen (18) items are used to measure the variable of leader behavior and fifteen (15) items are used to measure the variable of follower belief. The data were analized by Multiple Regression Analysis.The result of this study indicate that: (i) the displays empathy of leader behavior has a positive and significant influence on the inspiration of follower, while dramatizes the mission of leader behavior has no influence on the inspiration of follower, (ii) projects self-assurence and enhances the leader’s image of leader behavior has a positive and significant influence on the awe of follower, (iii) assures followers of their competency and provides followers with opportunities to experience success of leader behavior has a positive and significant influence on the empowerment of follower.Keywords: Leader Behavior, Follower Belief, Transformational Leadership, Syncretical Model of Charismatic/Transformational Leadership
LOYALTY & DISLOYALTY: SEBUAH PANDANGAN KOMPREHENSIF DALAM ANALISA LOYALITAS PELANGGAN
Get PDFMarketer convinced that customer loyalty is a valuable asset for the company. But, in today marketplace managing customer loyalty is a daunting task. An understanding about customer loyalty concept is prerequisite for managing customer loyalty. Customer loyalty concept best understood with the composite approach; behavioral and attitudinal approach. Composite approach could make marketer to find out loyalty category andloyalty stages of the customers, loyalty’s antecedent and manage loyalty from that antecedent. Customer satisfaction is an antecedent of customer loyalty. But, some researchers argued that satisfaction and loyalty relationships is not linear. This statement is supported by the fact in the market, satisfied customers still defect, but several dissatisfied customers don’t switch. Therefore, analyzing customer loyalty required holistic view about customer loyalty, loyalty concept alone did not give marketer a comprehensive view in customer loyalty analysis. Marketers and researchers must pay attention to disloyalty.Key words: loyalty, disloyalty, satisfactio
IMPLEMENTING TOTAL PRODUCTIVE MAINTENANCE (TPM) IN MALAYSIAN MANUFACTURING ORGANISATION: AN OPERATIONAL STRATEGY STUDY
Get PDFTotal Productive Maintenance (TPM) has been recognized as one of the significant operation strategy to regain the production losses due to equipment inefficiency. Many organizations have implemented TPM to improve their equipment efficiency and to obtain the competitive advantage in the global market in terms of cost and quality. In the implementation of TPM in a manufacturing organization, both Human-oriented and Process-oriented Strategy has been identified as critical success factors. This paper, therefore, focuses on the two TPM operational strategies, which is posited, will improve the extent of TPM implementation in manufacturing organizations. This study is an attempt to look at the TPM implementation from the perspective of a developing country such as MalaysiaKeywords: total productive maintenance, strategy, manufacturing, Malaysi