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"ABSTRAKPenelitian ini bertujuan untuk menguji dampak dari tambahan capital buffer terhadap perubahan stabilitas serta perubahan efisiensi bank, serta menguji hubungan kausalitas antara stabilitas dan efisiensi bank. Periode penelitian mencakup tahun 2001 sampai dengan 2015 yang menangkap efek dari krisis keuangan 2007-2008 serta implementasi beberapa regulasi modal. Sampel yang digunakan sebanyak 68 bank umum konvensional yang meliputi 973 observasi. Penelitian ini menggunakan model regresi dynamic panel dan model Granger Causality dengan GMM estimator. Stabilitas bank diproksikan dengan Z-Score, dan efisiensi diestimasi dengan pendekatan parametrik Stochastic Frontier Analysis (SFA). Hasil penelitian menunjukkan bahwa tambahan capital buffer berdampak positif signifikan terhadap penguatan stabilitas bank namun memiliki potensi trade-off pada sisi efisiensi bank. Selain itu, ditemukan hubungan non-linieritas antara tambahan capital buffer dengan perubahan stabilitas bank serta perubahan efisiensi bank. Lebih lanjut, penelitian ini menemukan bahwa peningkatan efisiensi bank Granger Cause penguatan stabilitas bank, atau dengan kata lain bank yang efisien akan cenderung stabil. Temuan dari penelitian ini diekspektasikan memberikan gambaran atas kondisi stabilitas dan efisiensi pada bank umum di Indonesia.

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ABSTRACTThis research aims to examine the effect of additional capital buffer on changes in bank stability and changes in bank efficiency as well as the relationship between bank stability and bank efficiency. The research horizon covers the period of year 2001 to 2015 which capture the impact of financial crisis in 2007-2008, as well as, implementation of capital regulations in Indonesias banking sector. This study uses sample of 68 commercial banks which covers 973 observations and employs dynamic panel regression and Granger Causality using GMM estimator. Bank stability is proxied by Z-Score, and efficiency is estimated using parametric approach Stochastic Frontier Analysis (SFA). The regression estimations indicate that additional capital buffer will enhance bank stability yet have a potential trade-off on bank efficiency. This study also finds non-linearity relationship between additional capital buffer with changes in bank stability and changes in bank efficiency. Moreover, this study finds that improvement in bank efficiency Granger Cause strengthen in bank stability. The results of this study are expected to provide insight regarding bank stability and bank efficiency in Indonesias commercial banks. "

"Penelitian ini bertujuan untuk meneliti apakah terdapat pengaruh antara cash holdings terhadap kebijakan perusahaan untuk membeli kembali saham. Variabel yang digunakan adalah karakteristik perusahaan, dimana salah satunya adalah faktor jumlah kas yang dipegang perusahaan. Sampel penelitian ini adalah perusahaan yang melakukan stock repurchase yang terdiri atas 51 observasi data perusahaan publik di Indonesia. Dengan menggunakan struktur data cross-section, penelitian ini menggunakan metode regresi Ordinary Least Square. Dari penelitian ini, ditemukan bahwa perusahaan Indonesia tidak menggunakan kelebihan kas untuk melakukan stock repurchase. Perusahaan justru menggunakan operating income untuk membayar payout, dalam hal ini stock repurchase. Selain itu, ditemukan juga bahwa dividen juga tidak mempengaruhi perusahaan dalam melakukan stock repurchase sebagai bentuk substitusi metode payout dalam penelitian di Indonesia.

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This research aims to examine whether there is an impact of cash holdings on firm`s policy to repurchase its stocks. The determinants used is the firm`s characteristics, which is one of them is cash holdings factor. The sample used is the 51 data observations of repurchasing Indonesia public companies. By using cross-section data, this research uses Ordinary Least Square as regression method. From this research, it is found that Indonesian companies do not use excess cash for repurchasing stock. Companies tend to use operating income to give payout to the stockholders, especially stock repurchases. Besides, it is found that dividend also do not affect the company for repurchasing the stocks as the substitution form of payout method in Indonesia."

"Tesis ini membahas hubungan kausal antara kebijakan dividen terhadap dividen, investasi dan utang (long term debt), kebijakan investasi terhadap keputusan dividen, investasi dan utang (long term debt) dan kebijakan pendanaan terhadap keputusan dividen, investasi dan utang jangka panjang. Dalam pengujian kebijakan deviden, investasi dan utang (long term debt1, sampel yang digunakan adalah seluruh perusahaan manufaktur yang terdiri dari tiga sub sektor yaitu industri barang konsumsi, industri dasar dan kimia serta berbagai industri dengan jumlah sampel 104 perusahaan manufaktur di periode 1997-2014). 2006. Variabel yang digunakan adalah dividen tunai yang dibayarkan perusahaan kepada pemegang saham, investasi dalam bentuk aset dan pendanaan dalam bentuk hutang jangka panjang. Pengujian ketiga variabel dividen, investasi dan pendanaan menggunakan Causality Ann Vector Autoregressive Amarah model dengan tingkat o = 10%, model sukses dalam memprediksi tiga variabel dividen, investasi dan utang jangka panjang, analisis dilakukan secara bersamaan.

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This thesis discusses the causal relationship between dividend policy on dividend, investment and debt (long term debt), investment policy on dividend decision, investment and debt (long term debt) and funding policy on dividend decision, investment and long term debt. In testing dividend, investment and debt policies (long term debt1, the sample used is all manufacturing companies consisting of three sub-sectors, namely the consumer goods industry, basic and chemical industry and various industries with a total sample of 104 manufacturing companies in the period 1997-2014). 2006. The variables used are cash dividends paid by the company to shareholders, investment in the form of assets and funding in the form of long-term debt.The test of the three dividend, investment and funding variables uses the Causality Ann Vector Autoregressive anger model with a rate of o = 10%, success model in In predicting the three variables of dividends, investments and long term debts, the analysis was carried out simultaneously."

"Tujuan dari penelitian ini adalah meneliti pengaruh corporate governance terhadap kebijakan dividen dan pengaruh kebijakan dividen terhadap nilai perusahaan. Penelitian dilakukan pada perusahaan nonkeuangan yang terdaftar di BEI periode 2006-2007, dengan sampel sebanyak 388 perusahaan dan menggunakan metode regresi linier berganda. Corporate governance diproksikan dengan variabel ukuran direksi, ukuran komisaris, persentase komisaris independen, kepemilikan manajerial, kepemilikan institusi, dan kepemilikan keluarga, kebijakan dividen diukur dengan dividend payout ratio, sedangkan Tobin's q ratio sebagai proksi nilai perusahaan. Hasil pengujian menunjukkan bahwa ukuran direksi berpengaruh positif secara signifikan terhadap kebijakan dividen, sementara ukuran komisaris dan kepemilikan institusi berpengaruh negatif secara signifikan pada kebijakan dividen. Sedangkan variabel persentase komisaris independen, kepemilikan manajerial, dan kepemilikan keluarga tidak berpengaruh secara signifikan pada kebijakan dividen. Selain itu, ditemukan bukti bahwa kebijakan dividen tidak berpengaruh terhadap nilai perusahaan.

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The purpose of this study is to investigate the effect of corporate governance on dividend policy and the effect of dividend policy on firm value. Samples used in this study are 388 non financial companies listed in Indonesia Stock Exchange (IDX) on the year period 2006-2007. The analysis tool used in this study is multiple linier regressions. Corporate governance is measured using director size, commissioner size, the percentage of independent board, managerial ownership, institutional ownership, and family ownership, dividend policy is measured using dividend payout ratio, and Tobin's q ratio as a proxy of firm value. The results of regression show that director size has positive and significant effect on dividend policy. Commissioner size and institutional ownership have negative and significant effect on dividend policy. The other variables such as the percentage of independent board, managerial ownership, and family ownership have no effect on dividend policy. Results also show that dividend policy has no effect on value of the firm."

"ABSTRAKPenelitian ini bertujuan untuk menguji pengaruh dari beberapa faktor internal perusahaan, antara lain last year cash dividend paid, firm size, cash flow per share, free cash flow, profitability, leverage, earnings per share, growth, dan liquidity terhadap cash dividend paid. Sampel terdiri dari 69 perusahaan yang terdaftar di Bursa Efek Indonesia dan secara berturut-turut membagikan dividen pada periode 2007-2016. Hasil penelitian menunjukkan bahwa free cash flow, growth in total asset, dan leverage memiliki pengaruh negatif yang signifikan terhadap cash dividend paid. Sementara, profitability, firm size, last year cash dividend paid, dan liquidity memiliki pengaruh positif yang signifikan terhadap cash dividend paid. Namun, hasil penelitian juga menunjukkan bahwa earnings per share dan cash flow per share tidak memiliki pengaruh yang signifikan terhadap cash dividend paid.

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ABSTRACTThe purpose of this research is to examine the effects of a company rsquo s internal factors such as last year cash dividend paid, firm size, cash flow per share, free cash flow, profitability, leverage, earnings per share, growth, and liquidity on their dividend policy. This research includes a sample of 69 companies that always made dividend payments in the year 2007 2016. The results showed that free cash flow, growth in total asset, and leverage have significantly negative effect towards cash dividend paid. On the other hand, profitability, firm size, last year cash dividend paid, and liquidity are discovered to have significantly positive effects towards cash dividend paid. However, the results also indicate that earnings per share and cash flow per share do not have significant effect towards cash dividend paid."

"This study aims to do empiric test about the influence of the amount savings and deposits to total loans in Indonesia's banking industry. The samples of this study are 18 banks listed on Indonesia Stock Exchange (2007-2010). The samples selected using purposive sampling. Multiple regression used to analyze the data. This research finds that the amount saving and deposits influence in a positive and significant impact on the amount of credit granted."