Hasil Pencarian  ::  Simpan CSV :: Kembali

"How will the funds of hedge funds (FoHF) business have to change to survive in the wake of the 2008-2012 financial crisis? This new research provides valuable insight. Reconsidering Funds of Hedge Funds presents the first comprehensive views of UCITS as well as recent trends in due diligence, risk management, and hedge fund deaths and survivors. The book contains original chapters by 22 academics and 16 hedge fund professionals, and includes two sections on performance: one that looks at UCITS FoHF and one that deals with traditional FoHF performance. Most chapters examine aspects of the 2008-2012 financial crisis, and almost every chapter addresses fund of hedge funds' management process before, during, and after the crisis."

"This book will present a comprehensive view of the risk characteristics, risk-adjusted performances, and risk exposures of various hedge fund indices. It will distinguish itself from other books and journal articles by focusing solely on hedge fund indices and emphasizing tail risk as a predictor of hedge fund index returns. The three chapters in this short book have not been previously published."

"Hedge fund governance : evaluating oversight, independence and conflicts summarizes the fundamental elements of hedge fund governance and principal perspectives on governance arguments. An authoritative reference on governance, it describes the tools needed for developing a flexible, comprehensive hedge fund governance analysis framework. Case studies and interviews with professional fund directors shine a bright light of pragmatism on this framework. The author?s global analysis of more than 5,000 hedge fund governance structures enables him to draw realistic conclusions about best practices. He also explores the value consequences of good vs. bad governance, estimating the actual dollar losses that can result from bad governance, as well as the operational and investment performance benefits of certain governance practices."

"Penelitian ini memiliki tujuan untuk membuktikan apakah short-term wholesale funding berpengaruh terhadap kontribusi risiko sistemik sebuah bank kepada sistem perbankan berdasarkan penelitian Lopez-Espinosa et al. (2012). Risiko sistemik diukur lewat metode pengukuran Conditional Value-at-Risk (CoVaR) yang merupakan pengembangan dari Value-at-Risk (VaR).Pada penelitian ini ditemukan bahwa short-term wholesale funding tidak memiliki pengaruh terhadap kontribusi risiko sistemik bank-bank yang terdaftar di Bursa Efek Indonesia, berbeda dengan temuan Lopez-Espinosa et al. (2012). Penelitian ini juga menemukan bahwa ukuran bukan proxy yang tepat untuk mengukur risiko sistemik, mempertegas hasil yang dikemukakan oleh Zhou (2010) dan Lopez-Espinosa et al. (2012).

---

This research aim to find the effect of short-term wholesale funding on banks systemic risk based on earlier research by Lopez-Espinosa et al. (2012). Systemic risk measured by Conditional Value-at-Risk (CoVaR) method - developed from Value-at-Risk (VaR).

This research found that short-term wholesale funding does not significantly contributes to systemic risk of banks listed on Bursa Efek Indonesia, differs from result of Lopez-Espinosa et al. (2012). This research also found that size is not an appropriate proxy to measure systemic risk ? a confirmation of Zhou (2010) and Lopez-Espinosa et al. (2012) researchs result."

"Penelitian ini bertujuan mengetahui pengaruh aktivitas non-interest income terhadap performa bank umum konvensional di Indonesia. Performa diukur menggunakan rasio return on asset dan return on equity bank umum konvensional di Indonesia, baik yang sudah disesuaikan dengan risikonya maupun yang belum. Penelitian ini menggunakan data panel dinamis sehingga menggunakan Generalized Moment of Method (GMM). Hasil menunjukkan aktivitas non-interest income berpengaruh negatif dan signifikan terhadap performa bank yang sudah disesuaikan dengan risikonya, tetapi tidak signifkan terhadap performa bank yang belum disesuaikan dengan risikonya. Hal ini menunjukkan bahwa aktivitas non-interest income berpengaruh terhadap risiko performa bank umum konvensional di Indonesia.

---

This study aims to find the effect of non-interest income activity to conventional bank performance in Indonesia. Performance is measured by return on asset and return on equity, both adjusted and unadjusted with risk. This study uses dynamic panel data so that Generalized Moment of Method (GMM) is used. The result shows that non-interest income activity has negative and significant effect on risk-adjusted bank performance, but no significant effect on unadjusted-risk performance. This results show that there is an effect between non-interest income activity and Indonesian Conventional Bank risk performance."

"Penelitian ini menganalisis secara empiris pengaruh dari penggunaan lindung nilai dengan menggunakan instrument derivatif terhadap risiko dan nilai perusahaan dari tahun 2010-2015. Peneliti membagi perusahaan kedalam 2 kelompok yaitu perusahaan pengguna dan perusahaan bukan pengguna. Penelitian ini berusaha mengkontrol selection bias yang muncul dengan mencocokkan perusahaan pengguna dan bukan pengguna berdasarkan propensity score. Propensity score ditentukan berdasarkan nilai estimasi variabel-variabel yang diasumsikan memiliki pengaruh terhadap keputusan perusahaan dalam menggunakan lindung nilai. Pencocokkan dilakukan dengan menggunakan teknik nearest neighbor dan membandingkan volatilitas arus kas, volatilitas pengembalian saham, dan nilai perusahaan. Hasil dari penelitian ini menunjukkan perusahaan yang menggunakan lindung nilai memiliki volatilitas arus kan yang rendah. Namun, tidak mempengaruhi volatilitas pengembalian saham dan nilai perusahaan.

---

Using 274 firm which listed in Indonesia Stock Exchange, this study empirically analyze the effect of derivatives on firm risk and value from 2010 2015. The firm are divided into 2 categories, hedgers user and nonhedgers nonuser. This study control for selection bias by matching users and nonusers on the basis of their propensity score. Propensity score was estimated from variables which expected influencing firm to use derivatives. After the propensity score are estimated, we match a user to the nonuser group using nearest neighbor technique and compare the standard deviation of cashflow, standard deviation of stock return, and firm value from both sample group. The result of the study finds strong evidence that hedging reduces cashflow volatility. However, hedging does not effect stock return volatility and firm value."

"Periode krisis keuangan tahun 2008 sampai dengan tahun 2010 telah diteliti sebagai salah satu sumber kerusakan dalam pembangunan ekonomi global. Jumlah investasi asing, yang juga salah satu indikator pembangunan ekonomi, hancur oleh krisis keuangan ini. Oleh karena itu, skripsi ini bertujuan untuk mengetahui tingkat dampak krisis keuangan global terhadap investasi asing di Belanda. Namun, untuk mengukur ini, peraturan pemerintah dan ukuran pasar Belanda penting untuk dianalisis sebagai faktor yang mempengaruhi keputusan untuk berinvestasi di negara-negara tertentu. Hasil menunjukkan bahwa investasi asing di Belanda tidak mengikuti tren dari negara lain. Pada tahun 2009, tren dari issue ini condong ke atas meskipun menurun lagi pada tahun 2010, yang terutama disebabkan oleh perubahan dalam peraturan pemerintah daripada ukuran pasar.

---

The financial crisis period 2008 until 2010 has been investigated as one of the sources of damage in the global economic development. The amount of foreign investment, which also one of the indicators of economic development, was ruined by the financial crisis. Therefore, this paper aims to investigate the degree of the impact of global financial crisis on foreign investment in the Netherlands. However, in order to measure this, government regulation and market size in the Netherlands are important to be analyzed as factors that influence decision to invest in certain countries. The result shows that foreign investment in the Netherlands did not follow the trends of other countries. It has upward sloping in 2009, though it decreased again in 2010, which were mainly due to the changes in the government regulations rather than the market size."