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"Tesis ini berisikan kajian mengenai faktor-faktor yang mempengaruhi permintaan uang dalam perekonomian Indonesia, khususnya uang dalam arti luas (M2) dalam periode data triwulan satu tahun 2000 sampai triwulan tiga tahun 2011. Analisis menggunakan modifikasi model G.S. Laumas dan J.S. Fackler (1987), dan Andreas Beyer (1998). Variabel yang digunakan dalam tulisan ini adalah uang beredar dalam arti luas (M2), Produk domestik bruto (PDB riil), inflasi, tingkat bunga dan nilai tukar (kurs). Data diolah dengan menggunakan model Ordinary Last Squares (OLS). Data yang digunakan adalah data time series dari publikasi Bank Indonesia dan Badan Pusat Statistik (BPS). Hasil pengolahan menunjukan data yang dianalisis bersifat non-stasioner. Dengan menggunakan metode OLS disertai variabel ARMA (autoregressive dan moving average), dalam pengolahan model dijumpai hubungan yang signifikan antara perubahan faktor-faktor (determinan) yang digunakan terhadap pertumbuhan permintaan uang (M2) di Indonesia.

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This thesis contains a study to examine the determinants of demand for money (broad money ? M2) growth in Indonesia, using data period from Q1.2000 to Q3.2011. The model analysis is based on modified model from GS Laumas and J.S. Fackler (1987) and Andreas Beyer (1998). The variables used are broad money (M2), gross domestic product (real GDP), inflation, interest rates, and exchange rates. Method of analysis is Ordinary Last Squares (OLS). Data used are quarterly time series from publications of Bank Indonesia and Badan Pusat Statistik (BPS). The data showed a non-stationary result. By using the method of OLS and variables of ARMA (autoregressive and moving average), the findings showed a significant relationship between all determinants on the growth of demand for broad money (M2) in Indonesian economy."

"Penelitian ini bertujuan untuk mengetahui pengaruh tipe kepemilikan bank terhadap kinerja serta kualitas pengelolaan risiko bank umum konservatif di Indonesia pada periode 2000-2010. Penelitian ini mengacu pada penelitian Iannotta et al (2006) dan Kalluru (2009). Pengujian dengan menggunakan t-test, regresi linear berganda dengan metode efek random yang dilakukan kepada 81 bank umum konvensional di Indonesia dengan mengelompokan tipe kepemilikan bank menjadi bank pemerintah, bank asing dan bank domestik. Hasil penelitian ini memberikan bukti empiris bahwa kepemilikan asing pada bank memiliki pengaruh positif dan signifikan terhadap kinerja (ROA) bank. Bank swasta asing memiliki kinerja yang relatif lebih baik dari bank swasta nasional. Meskipun ada indikasi bank pemerintah memiliki kinerja lebih rendah, namun tidak ditemui pengaruh signifikan adanya kepemilikan pemerintah pada kinerja bank. Kinerja bank juga dipengaruhi oleh faktor spesifik bank yaitu rasio tabungan dan giro terhadap total dana pihak ketiga (CASA), rasio beban operasional terhadap pendapatan operasional (BOPO) serta rasio net interest margin (NIM). Penelitian ini juga memperoleh keterkaitan yang signifikan antara tipe kepemilikan bank terhadap kualitas aset bank yang ditunjukkan dengan rasio NPL. Bank pemerintah memiliki rasio NPL lebih tinggi dibandingkan bank swasta nasional. NPL juga dipengaruhi oleh ukuran bank (ASSET), intensitas kredit (LOANSI), rasio demand deposit (CASA), rasio beban operasi terhadap pendapatan operasi (BOPO) dan net interest margin (NIM).

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The aim of this research is to examine the effect of ownership on performance and risk of conventional banks in Indonesia during the period 2000 -2010. This research refers to previous research conducted by Iannotta (2006) and Kalluru (2009). The study using t-test, linear multivariate regression with random effects method for 81 conventional banks in Indonesia, categorized into State-Owned Banks, Foreign Banks and Domestic Banks.

The empirical results shows significant differences in the performance. Foreign ownership seems to have positive and significant association relative to Domestic Banks in term of performance (ROA). Foreign banks tend to have higher profitability than domestic banks. Although, there are some indications that government bank have lower profitability than private bank, this research could not find significant association of government ownership with ROA. ROA also significantly associated with demand deposit ratio (CASA), operating expenses to operating income ratio (BOPO) and net interest margin (NIM).

This research also shows significant differences in the asset quality. Government bank tend to have higher NPL than private bank, whilst for foreign ownership, this research could not find significant association between foreign ownership with risk quality. NPL significantly associated with bank?s size (ASSET), Loans Intensity (LOANSI), demand deposit ratio (CASA), operating expenses to operating income ratio (BOPO) and net interest margin (NIM)."

"Penelitian ini bertujuan untuk menentukan faktor-faktor yang mempengaruhi para konsumen jasa transportasi kereta api khususnya di Jabodetabek dalam niat pembelian/ penggunaan jasa transportasi kereta api. Niat pembelian dijelaskan oleh beberapa variabel: kualitas layanan (dalam dimensi SERVQUAL), kepuasan konsumen, perceived cost, nilai jasa transportasi, switching cost, dan alternative attractiveness. Penelitian menggunakan metode Structural Equation Modeling (SEM), yang menemukan bahwa faktor yang paling mempengaruhi niat pembelian kosumen jasa transportasi adalah variabel nilai jasa. Variabel ini sangat berperan penting bagi perusahaan yang bergerak di bidang usaha transportasi kereta api di Indonesia.

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This study aims to determine the factors that affect consumers, especially railway transport services in Greater Jakarta in purchase intent / use of rail transport services.Purchase intentions is explained by several variables: service quality (SERVQUAL dimensions), consumer satisfaction, perceived cost, the value of transportation services, switching costs, and alternative attractiveness. This research is done using Structural Equation Modeling (SEM), which found that the factors that most influence purchase intentions customers in the transportation service is the value of services variable. This variable is essential for companies engaged in the business of railway transportation in Indonesia."

"Pemerintah sedang bersemangat mengembangkan industri otomotif nasional sebagai basis produksi industri otomotif global. Bahkan ditargetlam pada tahun 2015 ukan mengrunbil alih pcranan basis produksi otomotif ASEAN yang selama ini dilakukan Thailand. Dalam penelitian ini dilakukan analisis mengenai industri otomotif di Indonesia. Ana1isis yang dilakukan meliputi analisis eksternal industrl, analisis internal industri, analisis persaingan serta perencanaan strategis pengembangan industri otomotif Indonesia.Dari hasil penelitian diperoleh keslmpulan bahwa Indonesia memang memiliki potensi untuk menjadi basis produksi industri otomotif global. Potensi yang ada perlu disertai regulasi yang menarik bagi prinsipal dan investor industri otomotif untuk: mengcmbangkan industri otomotif nasional. Industri otomotlf menjadi sumber penggerak perekonomian yang cukup potensial untuk: dikembangkan.

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The government is eager to develop the national automotive industry as a production base for the global automotive industry. Even targeted in 2015 will take over the role of the ASEAN automotive production base that has been done by Thailand. This study conducted an analysis of the automotive industry in Indonesia. The analysis was conducted on the analysis of industrlar external factor. industrial internal factor analysis, competitivness analysis and strategic planning for the development of Indonesia's automotive industry.From the research we concluded that Indonesia docs have the potential to become a global automotive industry production base. The potential need to be accompanied by regulations that appeal to principals and investors of automotive industry to develop the national automotive industry. The automotive industry can be considerable as potential economy support."

"Peran indikator kesehatan keuangan menjadi semakin penting dalam mengarahkan pengawasan mikroprudensial terhadap risiko sektor perbankan, terutama di tengah perlambatan ekonomi global belakangan ini. Untuk menguji pentingnya indikator tersebut, penelitian ini mencoba mengukur kontribusi komponen CAMEL terhadap risiko sistemik (SRISK). Dengan menggunakan estimasi Feasible Generalized Least Square (FGLS) dan fixed-effect, dengan memanfaatkan data level bank terdaftar individu di negara-negara ASEAN-5 dari tahun 2004 hingga 2017, studi ini menemukan bahwa empat dari lima komponen CAMEL dan beberapa variabel makroekonomi dapat mempengaruhi risiko sistemik bank.

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The role of financial soundness indicators has become increasingly important in guiding the microprudential supervision towards banking sector risk, especially amidst the recent global economic slowdown. To examine the importance of the indicators, this study tries to measure the contribution of CAMEL components towards systemic risk (SRISK). Using the Feasible Generalized Least Square (FGLS) and fixed-effect estimations, leveraging individual listed bank level data in ASEAN-5 countries from 2004 to 2017, this study found that four out of five CAMEL components and some macroeconomic variables could affect the systemic risk of a bank."

"ABSTRAKKrisis Keuangan Asia (AFC) 1997-98 dan Krisis Keuangan Global (GFC) 2008 telah mendorong turbulensi ekonomi dan mata uang negara-negara ASEAN-5. Fenomena ini meningkatkan kerentanan fundamental ekonomi makro dan memicu peneliti untuk membangun Indikator Peringatan Dini (EWI) sebagai alat untuk mencegah terjadinya krisis mata uang. Skripsi ini akan membandingkan 9 perilaku indikator ekonomi makro dari sektor domestik, eksternal, dan kerentanan moneter dan keuangan di negara-negara ASEAN-5 yang meningkatkan kemungkinan krisis mata uang terjadi, menggunakan matriks ERPD dan regresi logit biner pada periode AFC dan GFC. Hasil penelitian menunjukkan variabel sektor eksternal signifikan dalam meningkatkan kemungkinan krisis mata uang terjadi di negara-negara ASEAN-5 selama periode AFC dan GFC. Rasio impor terhadap cadangan devisa adalah indikator yang paling signifikan dan memiliki dampak positif pada kemungkinan terjadinya krisis. Semakin besar impor ke cadangan meningkatkan tekanan nilai tukar dan meningkatkan kemungkinan krisis mata uang terjadi.

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ABSTRACT

Asian Financial Crisis (AFC) 1997-98 and Global Financial Crisis (GFC) 2008 had driven economic and currency turbulence of ASEAN-5 countries. This phenomenon increases vulnerabilities of macroeconomic fundamentals and triggers the researcher to build an Early Warning Indicator (EWI) as a tool to mitigate the occurrence of a crisis. This research will compare 9 macroeconomic indicators behavior from real domestic, external, and monetary and financial vulnerabilities sector in ASEAN-5 countries that increase the possibility of currency crisis using the ERPD matrix and binary logit regression during the AFC and GFC period. The results show the external sector variables are significant in increasing the probability of currency crisis in ASEAN-5 countries during the AFC and GFC period. Import to reserves ratio is the most significant indicator and has a positive impact on the probability of crisis occurrence. The greater import to reserves increasing the exchange rate pressure and increase the probability of currency crisis to occur"

"[ABSTRAK/

Sektor perbankan memiliki peranan penting dalam mendukung pertumbuhan ekonomi nasional, dengan fungsi intermediasi. Salah satu fenomena yang terjadi di sektor perbankan nasional adalah belum maksimalnya fungsi intermediasi dialankan, tingginya spread suku bunga, dan rendahnya efisiensi. Penelitian ini bertujuan untuk menguji pengaruh perubahan struktur industri perbankan terhadap kemampuan bank

menghasilkan keuntungan. Penelitian inimengacu pada penelitian yang dilakukan Smirlock (1995), dan berbagai penelitian-penelitian terakhir di area ini. Dalam menganalisa pengaruh perubahan struktur industri perbankan pada profitabilitas bank, penelitian ini akan mencoba membuktikan kebenaran hipotesa tradisional SCP (Structure-Conduct-Performance), hipotesa RMP (Relative Market Power) dan hipotesa efisiensi.

Analisis ini menggunakan panel data dengan sampel 30 bank umum konvensional terbesar selama periode 2002 hingga 2009. Hasilnya menunjukkan bahwa keuntungan bank bukan berasal dari perilaku kolusif, yang dimungkinkan pada struktur pasar yang terkonsentrasi, namun dalam estimasi model, didapat dukungan pada berlakunya teori RMP, yaitu bank menikmati keuntungan yang berasal dari penguasaannya atas pasar. Lebih lanjut lagi dibuktikan juga bahwa efisiensi memiliki pengaruh yang positif dan signifikan pada kinerja bank.

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ABSTRACT

Banking sector play important role in supporting sustainable economic growth as the intermediary of capital. On the period after economic crisis, the role of intermediary is still not played dominantly, as indicated by the low LDR (loan to deposit ratio) Apart from that, the sign of high Net Interest Margin, with low operational efficiency indicated by the high BOPO ratio, shows that there are still a big area for improvement for this sector. This study aim to empirically test the impact of changes on banking Industry market structure to bank profitability. The study is based on the work of Smirlock (1995) and a number of recent work on this field. In analyzing the impact of changes on market structure, the empirical test will examine the validity of traditional SCP (Structure-Conduct-Performance) hypothesis, Relative Market Power (RMP) hypothesis and efficiency hypothesis.

The result of the panel data analysis conducted on a sample of 30 biggest conventional commercial banks over the period from 2002 to 2009. The result showed that during the period of observation, bank profit does not stem from collusive behavior, which might be resulted due to increasing market concentration. However in model regression, support was found for the Relative Market Power hypothesis, which states that bank profit stems from its market power. Moreover, it was proved that efficiency have positive and significant relationship with bank profits, Banking sector play important role in supporting sustainable economic growth as the intermediary of capital. On the period after economic crisis, the role of intermediary is still not played dominantly, as indicated by the low LDR (loan to deposit ratio) Apart from that, the sign of high Net Interest Margin, with low operational efficiency indicated by the high BOPO ratio, shows that there are still a big area for improvement for this sector. This study aim to empirically test the impact of changes on banking Industry market structure to bank profitability. The study is based on the work of Smirlock (1995) and a number of recent work on this field. In analyzing the impact of changes on market structure, the empirical test will examine the validity of traditional SCP (Structure-Conduct-Performance) hypothesis, Relative Market Power (RMP) hypothesis and efficiency hypothesis. The result of the panel data analysis conducted on a sample of 30 biggest conventional commercial banks over the period from 2002 to 2009. The result showed that during the period of observation, bank profit does not stem from collusive behavior, which might be resulted due to increasing market concentration. However in model regression, support was found for the Relative Market Power hypothesis, which states that bank profit stems from its market power. Moreover, it was proved that efficiency have positive and significant relationship with bank profits]"

"Fenomena yang diambil dari Bursa Efek Indonesia pada periode krisis pandemi Covid-19, dimana kondisi ekonomi mengalami perlambatan namun kinerja Pasar Modal Indonesia mencatatkan kemajuan yang positif dengan nilai IHSG all-time high, nilai transaksi yang meningkat signifikan dan juga bertambahnya jumlah investor. Beberapa kebijakan diambil oleh Pemerintah guna menjaga stabilisasi Pasar Modal di Indonesia, yang berimbas kepada pengimplementasian kebijakan pemendekan jam perdagangan di yang efektif pada 30 Maret 2020.  Penelitian terdahulu yang menganalisis reaksi pasar terhadap kebijakan yang dibuat selama periode pandemi menghasilkan bahwa terdapat penurunan return dan abnormal return pada saham dan sektor tertentu. Penelitian ini bertujuan untuk melihat dampak atas kebijakan pemendekan jam perdagangan dengan menggunakan 10 indeks yang dijadikan basis investasi dengan menggunakan metode event study, penelitian ini mengambil event window 20 hari dan 10 hari sebelum dan setelah implementasi pemendekan jam perdagangan serta normalisasi jam perdagangan dan menganalisis cumulative abnormal return (CAR) yang dihasilkan dari masing-masing indeks pada periode pengamatan. Hasil penelitian ini menunjukkan bahwa terdapat inkonsistensi perbedaan CAR pada tiap event window sehingga hubungan antara pemendekan jam perdagangan dengan CAR indeks sampel tidak permanen. Dari 10 indeks sampel, JII merupakan indeks yang masih mengalami pertumbuhan pada periode pengamatan.

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During the period of Pandemic Covid-19, which is regarded as a period of global crisis, the Indonesia Capital Market experienced phenomenal growth, which strengthened the Indonesian economy. The Jakarta Composite Index (JCI) has reached an all-time high, and both transaction volume and the number of investors are growing significantly. The Indonesian government implemented a new policy in response to the stabilization of the economy, which impacted the capital market. IDX instituted shortened trading hours on March 30, 2020. During a pandemic, not only Indonesia but also several other exchanges employ a shortened trading hours policy. Previous research using the event study method examined market reactions during the pandemic period and discovered that return and abnormal return on specific sectors plummeted. The purpose of this study was to examine the impact of shortened trading hours implementation on 10 investment indices using event study and a 20-day and 10-day event window before and after the implementation of shortened trading hours and normalization trading hour, so that investors may consider whether this shortening of trading hours has a permanent or transient effect on the abnormal returns of the JCI and Investment Index when making investment decisions. This study will examine the cumulative abnormal return (CAR) from each sample indices and its relationship to the shortened trading hours policy. As a result, since the policy was implemented during the early stages of the pandemic, there is no significane difference and correlation between shortened trading hours and CAR. Furthermore, JII is one of the indices that is growing during the event window. Adding knowledge of trading hours policy effect to achieve higher market performance during the global crisis period, so that investors know which indices to use for investment and consider employing shortened trading hours policy after pandemic."

"Penelitian ini bertujuan untuk menganalisis pengaruh probabilitas default iuran program JKN dalam memprediksi sustainabilitas keuangan dengan menggunakan arus kas operasi sebagai indikator financial distress atau kebangkrutan program JKN dengan menggunakan rasio-rasio keuangan dan operasional. Variabel yang digunakan dalam penelitian ini adalah rasio klaim, kolektabilitas iuran, likuiditas, probabilitas default piutang iuran, umur program JKN dan ukuran aset sepanjang tahun 2016-2021. Penelitian merupakan studi empiris dengan menggunakan metode analisis regresi logistik biner logit. Hasil penelitian menunjukkan bahwa variabel yang signifikan sebagai prediktor sustainabilitas pendanaan program JKN adalah probabilitas default piutang iuran, yang berkorelasi positif, dan kolektibilitas, yang berkorelasi negatif. Variabel lainnya yaitu rasio klaim, likuiditas, umur dan ukuran aset tidak signifikan sebagai prediktor.

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This study aims to analyze the effect of the probability of default of JKN program contributions in predicting financial sustainability by using operating cash flow as an indicator of financial distress or bankruptcy of the JKN program. The independent variables in this study are the claims ratio, contribution collectability, the liquidity ratio, contribution arreas’s default probability, the age of the JKN program, and the asset size during period from 2016 to 2021. This research is an empirical study by using the binary logit logistic regression analysis method. The results show the variables that significantly affect financial distress as the predictors are, contribution arreas’s default probability which is positively correlated, and contribution collectability is negatively correlated. Other variables are not statistically significant to predict financial distress."