102 research outputs found
External shocks and exchange rate policy in Indonesia : 1978.4 - 2004.3
No full textTypescriptDept. of Economics & The Melbourne Institute of Applied Economic and Social ResearchThesis (PhD) -- University of Melbourne, Faculty of Economics and Commerce, 2009Includes bibliographical references (leaves 134-148
Characteristics Affecting Creative Business Income of Leading Subsector Economies in Java
No full textThis study aimed to fill the literature gap on companies’ characteristics, focusing on the effects of entrepreneurs and business characteristics on the companies’ income. The companies chosen are the ones in the leading subsector, particularly the case in Java. This study also analyzed which characteristics of entrepreneurs and businesses affected income in the creative industry. The method used in this study was multiple linear regression and standardized beta test, with cross-sectional data taken from the specific survey in creative economy issued by BPS and BEKRAF in 2016. The unit of analysis comprises 822 companies in the leading subsector of the creative industry in Java. The results showed that all of the characteristics of entrepreneurs and businesses had significant and positive effects on the company’s income. The factors that affected company income are Intellectual Property Rights (IPR) ownerships and the business’s legal status. The primary factor affecting the income was the number of workers. Meanwhile, for each provincial level in Java, it showed that the number of workers, internet use, and the ownerships of IPR had significant and positive effects, while the IPR ownerships had a substantial magnitude in four provincial levels in Java
Impact of Monetary Policy on Consumption and Investment in Indonesia
No full textMonetary policy transmission mechanism has a complex process since its implementation it involves changes on banking sector, economic actors, the length of time in implementing policies, as well as changes in monetary policy transmission channels according to economic condition of the country. This study aims to examine how consumption and investment respond to monetary shocks that occur in Indonesia. These results indicate that the impact of monetary policy on consumption due to changes in interest rates is larger and more sensitive than investment, according to the impulse response test. The main channel of the effect of policy shocks obtained from consumption is transmitted to output. Therefore, the monetary policy issued by Bank Indonesia will have a greater impact on household spending than corporate spending. This means that channel consumption is the main mechanism of transmission
THE ROLE OF MACROPRUDENTIAL POLICY TO MANAGE EXCHANGE RATE VOLATILITY, EXCESS BANKING LIQUIDITY, AND CREDITS
No full textThis paper analyzes the macroprudential policy by the central bank to maintain the financial system stability. Using panel data of the government banks, foreign, private, joint venture, and regional development banks during 2004- 2012, we employ Vector Autoregressive Exogenous (VARX) and event analysis method and find that the level of exchange rate volatility decrease after the implementation of the one month holding period, six-month holding period and net open position policies. However, for the nominal exchange rate, these policies are not effective. In aggregate the reserve requirement plus loan to deposit ratio policy is effective to raise the bank credit allocation. Furthermore, the impact of the primary reserve policy is very limited to lower the liquidity of the economy; while at the same time the flow of foreign capital comes into very heav
Pengaruh variabel-variabel di sektor riil dan perbankan terhadap Shock Credit Default Swap (CDS) di Indonesia
No full textThe rapid development of the global financial market today is getting faster and integrated with the existence of advanced technology. Along with economic issues in various worlds, directly related to the global economic crisis that occurred in 2008-2009 greatly influenced the development of credit default swaps (CDS) in developing countries such as Indonesia. The increase in the value of the credit default swap, which carries a high risk of default, will further impact investor confidence and weaken the exchange rate. This is reflected in the shocks of the global crisis and the subprime mortgage prime in the United States. However, the onset of a global crisis can be early with early indicators of crisis from credit default swaps so that crisis management can be carried out faster. The results of this study indicate that the credit default swap is responded to faster by the banking sector than the real sector.
Keywords: Financial crises, Credit Default Swap (CDS), Riil and banking secto
NILAI EKONOMI MUSEUM ULLEN SENTALU DENGAN TRAVEL COST DAN CONTINGENT VALUATION METHOD TAHUN 2012
No full textThis research combined the travel cost method and contingent valuation method to estimate the economic value of Museum of Culture and Art Ullen Sentalu, Yogyakarta. Currently Museum Ullen Sentalu is enhancing its popularity through the increase of the number and quality of its facilities and developing new concept of museum (living museum) to enhance the tourism attraction. To conduct the research, the travel cost method was applied by using the count data regression, and the contingent vauluation method was applied by using the ordinary least square.The visitors� reaction to the ticket price enhancement as the implication of the increase of museums� quality was also observed.
Based on the analysis result, the economic value of Museum Ullen Sentalu using the travel cost method was ranged for Rp4.325.031.904,00 - Rp18.844.810.920,00. Meanwhile the willingness to pay value by using the contigent valuation method was ranged for Rp179.785.000,00 - Rp1.797.850.000,00. Factors that significantly affect the number of visits to the museum were travel cost, income, age, and the visitor�s perception about the environment quality of the museum. However, the visitors reacted positively to the ticket price enhancement assumption, only if there is enhancement of its facilities and accessibility of the museu
Pengaruh saluran udara tegangan tinggi terhadap nilai rumah tinggal tahun 2002-2007 :: Studi pada perumahan Harapan Kita, Kabupaten Tangerang
No full textANALISIS PENENTUAN NILAI PASAR WAJAR SAHAM PT. BANK DANAMON INDONESIA Tbk. PASCA KEBIJAKAN RIGHT ISSUE 31 DESEMBER 2012
No full textThis study has the objective is to estimate the intrinsic value of the shares of
Bank Danamon Indonesia Tbk. policy post-rights issue by using the income
approach is to apply the method of discounted cash flows (discounted cash flow)
to the model to the company's free cash flow (free cash flow to the firm) and
market approach (relative valuation). The data used consists of financial
statements of Bank Danamon Indonesia Tbk. past three years from 2009 through
2011. Discounted cash flow method of analysis is done by: projection of financial
statements (balance sheet and income statement), the projected free cash flow to
firm (FCFF), determination of the discount rate, the determination of terminal
value, and determining the estimated value of the company.
Analysis of the market approach (relative valuation) begins with a search
for comparable companies in similar lines of business, choose and assign the
appropriate multiple or ratio of comparable companies. This multiple is used to
convert the book value of the relevant variables of Bank Danamon Indonesia Tbk.
be the estimated market value. Multiple used is: PER (Price Earnings Ratio), PBV
(Price to Book Value), and P/S (Price to SalesRatio).
The results using the discounted cash flow estimate of intrinsic value of
shares acquired Bank Danamon Indonesia Tbk. per December 31, 2012 amounted
to Rp6.269,85 while the estimated value of the shares based on relative valuation
is Rp4.694,11 In this study, the reconciliation of the estimated intrinsic value or
fair value of the shares of Bank Danamon Indonesia Tbk. determined by giving
equal weight between the two approaches so that the obtained value of
Rp5.481,9
ANALISIS PERBANKAN SYARIAHINDONESIA TAHUN 2010-2013 PENDEKATAN STRUCTURE, CONDUCT AND PERFORMANCE DAN RELATIVE EFFICIENCY
No full textThis study aims to analyze the Indonesian Islamic banking in 2010-2013
using Structure-Conduct-Performance and Relative Efficiency approach. To see
the impact of market structure on the performance of Indonesian Islamic banking
industry, this study uses a model of Michael Smirlock that has been modified and
adjusted with other variables. In the study we used a panel data analysis with a
cross section of 10 from 11 Indonesian Islamic banks and time series data from
2010 Q2 to 2013 Q3. The estimation results indicate that this study does not
support the SCP hypothesis with the finding of a negative and significant effect
between market concentration (CR) against profitability (ROE). This proves that
the Indonesian Islamic banking industry is not concentrated in the two largest
banks. Meanwhile , the market share (MS) has a positive and significant effect on
profitability (ROE) as a proxy for performance. This indicates that the Indonesian
Islamic banking industry supports the Relative Efficiency hypothesis. Positive
coefficient shows that the market share of Indonesian Islamic banks run
efficiently. There is a negative and significant effect between NIM and ROA with
ROE also positive but not significant effect between GDPK the ROEvariables.
Keyword: SCP theory, relative efficiency theory, panel data, islamic banking,
profitability
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