Bina Ekonomi
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Country Tax Regime And Firm Debt Financing
Get PDFThe ASEAN country’s tax regime can be distinguished into the classical tax regime (Indonesia, Thailand, and Philippines) and integrated tax regime (Singapore, Malaysia, and Vietnam). This paper aims to understand the effect of the different tax regimes to firm debt financing policy. We analyze the effects of different tax regimes using the cross section regression method. The dependent variable is Debt to Equity Ratio, the independent variable is proxied by a dummy variable with the classical tax regime are defined as 1 and the integrated tax regime are defined as 0, and firms’ characteristics, as a control variable: Net Property Plan and Equipment to Total Asset Ratio, One Year Sales Growth, Price to Book Value Ratio, and Earnings before Interest, Taxes, Depreciation and Amortization to Total Asset Ratio. Since the classical tax regime has higher tax rates relative to the integrated tax regime, firm operating in the classical tax regime able to experience the same debt tax saving using lower debt financing relative to firm operating in the integrated tax regime.
Keywords: ClassicalTtax Regime; Integrated Tax Regime; Debt Tax Saving; Debt Financing; ASEAN Countr
HUBUNGAN TIMBAL BALIK ANTARA ARUS MASUK FOREIGN DIRECT INVESTMENT DAN HUMAN CAPITAL DI INDONESIA DAN INDIA
Get PDFForeign Direct Investment (FDI) benefits the host country by technology transfer and spillover effect toward its workforce. Meanwhile, the quality of human capital (HC) in the host country may attract FDI. This study aims to examine the relationship of FDI inflow and the quality of HC in Indonesia and India and to investigate FDI orientation. Applied two-stage least square to time series data of the year 2000-2015, the result shows a causal relationship between FDI and HC in Indonesia, but one-way relationship from FDI to HC in India. Government spending on education and health has positive effects on HC in both countries. In Indonesia, FDI is positively affected by HC and growth, while in India, only by country risk index.Keywords: Foreign Direct Investment, human capital, two stage least squar
PENGARUH E-COMMERCE TERHADAP PERTUMBUHAN EKONOMI INDONESIA
No full textThe rapid development of information and communication technology has caused the emergence of a new economy, indicated by the phenomenon of internet-based businesses or e-commerce. This research uses the Auto-Regressive Distributed Lag (ARDL) approach to analyzes the impact of e-commerce on Indonesia’s economic growth in 1996-2015. The results show that the development of e-commerce as represented by the increase of the number of e-commerce transaction value, the increase of the number of business websites, and the number of internet users is proven to bring positive impact on Indonesia’s economic growth. This validates the hypothesis which states the increasing number of e-commerce transaction value, which is formed by the interaction between business websites as the supply indicator and the internet users as the demand indicator, shall bring enhancement to the intensity of macroeconomic activities. However, the effect is only significant for the long-run relationship but is not significant in the short-run relationship. Keywords: e-commerce; economic growth; ARD
ELASTISITAS PERMINTAAN TENAGA KERJA PADA USAHA KONVEKSI SKALA MIKRO DAN KECIL
No full textLabor intensive in small and micro scales garment sector is very common in Soreang Village, Bandung Regency, West Java Province. The purpose of this study is to analyze the elasticity of labor demand of the labor-intensive micro-small scale garment enterprises. Sixty seven entrepreneurs were interviewed to collect primary data. Result from natural logarithm regression showed that labor demand was inelastic to the unit number of machines, wage, number of output, and firm age. These regression coefficients showed that unit of machines was complementary for labor; the wage elasticity of labor demand was negative; the increase in production output will lead to increase in labor demand; and, firm age was contributed positively to the increase in labor demand.Keywords: elasticity of labor demand; small-micro scale enterprises; garmen
ANALISIS EFISIENSI USAHA TERNAK SAPI PERAH MENGGUNAKAN STOCHASTIC FRONTIER ANALYSIS
No full textThe Milk Self-sufficiency Program that is targeted to be reached by the year of 2020 is threatened by the increasing of milk imports. Local milk production can only meet 18 to 20 percent of the national milk demand. This study aims to investigate the level of technical efficiency of the people\u27s small hold farmers’ cattles in Java and to analyze factors that influence milk production using Stochastic Frontier Analysis. The results showed that the feed per animal per day had a positive effect on the average milk production per animal per day; while the size of cage per animal had a negative effect. The average level of efficiency of dairy cattle business in Java is 83.56 percent, but statistically there are effects of inefficiency in this business. Factors that influence the inefficiency of livestock businesses are: the farmer’s age, the farmer’s educational level, participation of the farmers in cooperatives and farmer groups.Keywords: dairy cows; Stochastic Production Frontier; technical efficienc
ANALISIS FAKTOR KOMUNIKASI ONLINE DAN BRAND LOVE MANCHESTER UNITED SEBAGAI SPORTS BRAND PADA PENGGEMAR MANCHESTER UNITED DI BANDUNG
No full textA brand for sport teams nowadays is a very valuable asset (Burrow, 2013). Sports team need to improve brand image like businesses do. These sports team conduct online communication to improve their brand image. Manchester United do this by managing their official Facebook, Twitter, Instagram and official website account. With so many factors to manage and monitor, the task of managing this online communication channel can be a very demanding task. The objective of this paper is to try to make it less complicated. From twenty indicators of online communication, using factor analysis, the result is five factors namely: twitter junkie, website user, IG and FB user, news hunter, and brand love.Keywords: brand love; sports marketing; online communication; factor analysis
Halaman Redaksi Bina Ekonomi Vol 21 No 2 Tahun 2017
No full textHalaman Redaksi Bina Ekonomi Vol 21 No 2 Tahun 201
KEPEMIMPINAN – “MODEL THE WAY” INSPIRASI BAGI TERWUJUDNYA BUDAYA RISIKO PERUSAHAAN: STUDI KASUS PADA PT. TELEKOMUNIKASI INDONESIA (Persero) Tbk
Get PDFRisk is the impact due to the uncertainty arising from the effort to achieve the company\u27s goals. Risk management is a process to reduce corporate losses due to risk. PT Telkom one of the SOEs that has implemented risk management with COSO-CRM as references that combine with good corporate governance, has managed the risks, such as; legal and compliance. This success is due to the commitment of PT Telkom\u27s leaders to make risk management as a corporate culture. Leaders who implemented leadership - "model the way" is the figure required in managing these fraud risks. Leaders should be able to inspire all members of the company to have a corporate culture that includes a culture of risk. The risk culture allows every member of a company to be proactive in every action, decision, and policy for the company\u27s stakeholders.Keywords: risk, SOEs, COSO_CRM, leadership, model the wa
PENGARUH VOLATILITAS HARGA MINYAK TERHADAP PEREKONOMIAN
Get PDFThis study discusses the impact oil price volatility on macroeconomic variables, in particular economic growth, inflation, and output gap. Data used in this study are the quarterly standard deviation of oil spot price of West Texas Intermediate (WTI), and macroeconomic variables of 19 countries in the world for the period of time of 1997.Q1 – 2013.Q4. This study uses Least Square Dummy Variable (LSDV) equation that is converted into Fixed Effect Model (FEM). This study concludes that oil price volatility influences inflation, output gap, and economic growth. Through inflation, oil price volatility affects the interest rate. Moreover, estimation using equation system also shows the interconnection among macroeconomic variables and how oil price volatility could influence other variables.Keywords: oil price volatility, macroeconomic variables, inflation, interest rat
RISIKO LIKUIDITAS SEBAGAI PENGINDIKASI SYSTEMICALLY IMPORTANT BANKS: INDONESIA 2007 - 2014
Get PDFFunding liquidity issues have become the main cause of crisis particularly due to banks’ interconnectedness. This study assesses funding liquidity risk faced by Indonesian banks and also identified which bank can be classified to systemically important banks (SIBs). Each bank’s funding liquidity risk is measured by the distance between the real liquidity condition and the ideal condition, while the identification of SIBs is based on the size and interconnectedness of every bank. This study employs liquidity mismatch index which contains of relative liquidity surplus and absolute liquidity surplus to current assets and current liabilities of 80 Indonesian conventional banks from January 2007 until December 2014. The result according to the relative liquidity surplus is that Indonesian banking system’s liquidity condition is near to the ideal condition, yet there are few banks experiencing too much excess liquidity. According to the absolute liquidity surplus, the result is that banks with higher core equity (classified in BUKU 3 and 4) are more potentially to become SIBs. Keywords: funding liquidity risk, systemically important banks, relative liquidity surplus, absolute liquidity surplus, risk contributio