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"ABSTRACTRecently, research on paradoxical strategies has been considered critical in winning in the competitive dynamic landscape, characterized by uncertainty and rapid changes in the business environment. Such environmental uncertainties require firm to apply paradoxical strategies; combining strategic flexibility and strategic consistency (Parnell, 1994). This study addresses three main questions: what is the effect of strategic flexibility on firm's performance; what is the contingent effect of perceived environmental uncertainty on the relationship between paradoxical strategies and firm's performance. Questionnaires were distributed to 131 CEOs or members of top management team of Indonesian commercial banks (including sharia banks); and the 59 returned responses were analyzed to test hypotheses. The results indicate that strategic flexibility has positive effect on bank's performance, while strategic consistency does not have significant effects o bank's performance. In terms of combining these two paradoxical strategies, the results of this study confirm that the effect of strategic flexibility on bank's performance depends on strategic consistency and environmental uncertainty."

"ABSTRAKPerkembangan terkini pada berbagai penelitian manajemen stratejik menyoroti semakin meningkatnya ketidakpastian pada lingkungan tugas (task environment) yang mengakibatkan keunggulan posisi (positional advantage) perusahaan tergerus semakin cepat dari waktu ke waktu. Hal ini mengakibatkan perusahaan-perusahaan harus menghadapi strategi paradox (strategy paradox) yang menuntut mereka untuk melakukan pengambilan komitmen strategis (strategic commitment) secara cepat dan akurat ditengah-tengah tingginya ketidakpastian strategis (strategic uncertainty). Penelitian ini hendak menganalisa konfigurasi berbagai perusahaan yang mampu mempertahankan keunggulan posisi dan kinerjanya ditengah-tengah tingginya ketidakpastian strategis pada lingkungan tugasnya. Kuesioner disebarkan kepada tim manajemen puncak dari 122 bank di Indonesia. Berbeda dari penelitian serupa yang dilakukan oleh Hamsal dan Agung (2007) yang menemukan bahwa persepsi akan ketidakpastian lingkungan (perceived environmental uncertainty) berkorelasi signifikan dan positif terhadap fleksibilitas strategi (strategic flexibility), penelitian ini menemukan bahwa persepsi akan ketidakpastian lingkungan tidak lagi memiliki korelasi secara signifikan dengan strategi perbankan di Indonesia. Lebih lanjut, penelitian ini menemukan bahwa untuk meningkatkan dan mempertahankan kinerjanya, perbankan perlu memprioritaskan segala usaha dan sumber dayanya untuk mempertahankan fleksibilitas strategi sebelum mengalokasikannya untuk membangun keunggulan posisi dan mempertahankan konsistensi strategi (strategic consistency). Sejalan dengan itu, apabila fokus perbankan adalah membangun dan mempertahankan keunggulan posisinya, maka segala usaha dan sumber daya harus diprioritaskan untuk membangun fleksibilitas strategi. Lebih lanjut, penelitian ini menemukan bahwa kinerja perbankan akan maksimal apabila perbankan mampu mendayagunakan fleksibilitas strateginya untuk membangun keunggulan posisi di dalam industri, dan lebih lanjut, mampu mempertahankannya dengan konsistensi strategi yang tinggi.

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ABSTRACTRecently, researches on strategic management have been concerned with the increasingly uncertain, yet becoming more important, task environment that erodes firms? positional advantage more rapidly every day. As a result, firms are facing paradox of strategy, which demands rapid, yet accurate, strategic commitment in the present of strategic uncertainty. This research addresses questions regarding how organizations are best configured in facing environment with highly strategic uncertainty, while maintaining their positional advantage and high performance. Questionnaires were distributed to 122 top management teams of Indonesian commercial banks. In contrast with earlier research by Hamsal and Agung (2007) who found that perceived environmental uncertainty has a positive, significant correlation to Indonesian banks? strategic flexibility, this research found that environmental uncertainty does not has any significant correlation to Indonesian banks? strategy. Further this research also identify that in order to increase their performance, Indonesian banks should allocate most of their efforts and resources on increasing their Strategic Flexibility before they put any efforts and resources on creating Positional Advantage and maintaining Strategic Consistency. In addition, if any of the Indonesian banks have an intention on increasing their position in the industry, they should also allocate most of their efforts and resources on being strategically flexible. Further, when their SF has already become a distinctive PA, Indonesian banks should begin to maintain consistency in their strategy as the highest value of performance can be achieved when their PA is maintained by a strong basis of SC."

"Tesis ini dilatarbelakangi penerbitan Arsitektur Perbankan Indonesia (API) oleh Bank Indonesia dalam rangka penataan kembali industri perbankan setelah krisis moneter tahun 1997. Permasalahan yang diangkat dalam Tesis ini adalah bagaimana pengaruh kebijakan API terhadap struktur, tingkat persaingan dan kinerja industri perbankan Indonesia sebelum dan sesudah berlakunya kebijakan API. Tujuan Tesis ini adalah untuk mengidentifikasi bentuk struktur, pengaruh kebijakan API terhadap tingkat persaingan industri perbankan dan menganalisis dampak penerapan kebijakan API bagi kinerja perbankan Indonesia dengan periode penelitian tahun 2001 - 2008. Untuk mengukur tingkat persaingan dan bentuk struktur dalam industri perbankan Indonesia digunakan model Panzar-Rosse. Model ini memberikan indikator persaingan yang dikenal sebagai statistik H yang menyediakan penilaian kuantitatif dari persaingan dalam pasar. Statistik H didapatkan dari jumlah elastisitas revenue terhadap harga faktor-faktor produksi berdasarkan reduced form persamaan pendapatan bank. Persyaratan dalam metode Panzar-Rosse adalah sampel observasi harus mewakili ekuilibrium long run untuk mengukur tingkat kestabilan, mengingat model ini menggunakan pendekatan statis. Berdasarkan hasil pengujian, secara umum dapat disimpulkan bahwa setelah diterbitkan kebijakan API oleh Bank Indonesia, maka struktur perbankan Indonesia berbentuk monopoli atau oligopoli kolusif. Bentuk struktur tersebut mencerminkan adanya perbedaan tingkat persaingan bank umum pada periode sebelum dan sesudah API diterbitkan. Dengan diberlakukannya kebijakan API, kondisi perbankan nasional tidak menjadi lebih stabil dibandingkan sebelum API diterbitkan. Namun ketidakstabilan ini tidak berpengaruh terhadap kinerja bank umum, sehingga setelah kebijakan API diterbitkan kinerja bank umum mengalami peningkatan.

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The background of this Thesis was the issuance of the Indonesian Banking Architecture (API) by Bank Indonesia in the framework of restructuring the banking industry after the financial crisis in 1997. The main concern of this thesis was the impact of the Indonesian Banking Architecture policy toward structure, the level of competition and performance of the Indonesian banking industry before and after the promulgated of API. The purpose of this Thesis is to identify the shape of the structure, to measure the impact of promulgated of API policy toward the level of competition of the banking industry and to analyze the impact of API?s implementation toward performance of banking industry with year study period from 2001 to 2008. To measure the level of competition and the shape of the structure of Indonesian banking industry used Panzar-Rosse model. This model provides an indicator of competition, known as H statistic that provides a quantitative assessment of competition in the market.

H statistics obtained from the amount of revenue to price elasticity factors of production based on the reduced form bank revenue equations. The terms of the Panzar-Rosse method is to sample observation should be representative of long run equilibrium to measure the level of stability, since this model uses a static approach. On the basis of test result, it is concluded that after the Indonesia Banking Architecture policy issued by Bank Indonesia, the structure of Indonesian banking industry is monopoly or collusive oligopoly. This structure reflects the different levels of competition for commercial banks in the period before and after the implementation of API. The condition of banking industry do not become more stable than before the published of API. However this instability does not affect toward performance of banking industry, so performance of banking industry have increased."

"Since year 1997 up to 1999, 64 banks in Indonesia have been liquidated/closed by Central Bank and numbers of bank have followed banking re-capitalization program or under control of Indonesian Banking Restructuring Agency/OKRA. It brings Indonesia into a big economic problem because Bank's role in Indonesian economy was very important. Indonesia becomes a country which has a big burden and very hard to recover from the crisis. That is the reason that the author intends to explore more precisely the condition of Indonesian Banking.This research is designed to make a model that can be used to predict Bank Failure with case study in Indonesian Banking 1997 - 1999. This research purpose is to differentiate good bank and failure bank, so the result of this research will contribute to banking knowledge in Indonesia and will help the Indonesian to select a good bank.This research uses Multiple Logistic Regression Model as a methodology with more than 2 (two) independent variables. The model had been chosen since the type of dependent variable is binary (Good bank or Failure bank) and allows us to use 'dummy data' that can not be possible in conventional model.The numbers of data sample in this research were 144 banks : 81 failure banks and 63 good bank. Data used in the model was the last published financial statement before the bank failure. The dependent variable is failure/good bank and there are 16 independent variables related to Capital, Asset Quality, Earning/ Profitability, Liquidity and Efficiency.The model was tested by determination coefficient Cox & Snell R Squared and Nagelkerke R Squared. The test shows that the model is significant (0.6 & 0.8). it means that independent variable used in the model has significant correlation to dependent variable. Kolmogorov Smimov Test shows that the model be able to differentiate failure bank and good bank. Hosmer & Lemeshow Test proves that the prediction of the model is fit with the actual data. The above tests summarize that the model can be used to predict and differentiate between failure bank and good bank."

"Penelitian ini bertujuan untuk mengetahui efektifitas Sertifikat Bank Indonesia Syariah (SBIS) terhadap pengendalian likuiditas industri perbankan syariah di Indonesia. Penelitian dilakukan dengan menggunakan analisis industri dan ekonometri. Analisa industri dilakukan untuk melihat hubungan/kaitan antara volume SBIS dengan uang beredar, pembiayaan/financing dan suku bunga deposito. Analisis ekonometri dilakukan untuk melihat model manajemen likuiditas untuk operasi moneter syariah. Pertama diteliti variabel yang menentukan peran bank sentral dalam mengelola likuiditas dengan menggunakan model konvensional. Selanjutnya ditetapkan variabel yang akan di uji dengan mempertimbangkan karakteristik industri perbankan syariah di Indonesia. Dari model yang dihasilkan menunjukkan bahwa volume SBIS dipengaruhi oleh uang beredar, DPK dan lag volume SBIS. Untuk lebih meningkatkan efektifitas SBIS dalam pengendalian likuiditas di industri perbankan syariah juga disarankan agar bank sentral mengeluarkan instrumen investasi moneter syariah selain instrumen moneter yang ada saat ini.

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This study aims to determine the effectiveness of Bank Indonesia Sharia Certificate (SBIS) to Manage Liquidity in Sharia Banking Industry in Indonesia. The research was conducted by using statistical and econometric analysis. The statistical analysis to see the relationship between the volume of SBIS with money supply, financing and deposit rates. Econometric analysis carried out to see model of liquidity management for Islamic monetary operations.

First, searched the variable that determine the role of central banks in managing liquidity by using the conventional model. Next, determined variables which will be tested by considering the characteristics of Islamic banking industry in Indonesia. From the model showed that the volume of SBIS influenced by money supply, deposits and lag SBIS volume. To further improve the effectiveness of sharia banking industry liquidity also suggested that the central bank to issue a monetary investment instruments other than Islamic monetary instruments that exist today."

"Bank merupakan lembaga keuangan dengan peran yang sangat penting dalam perekonomian Indonesia. Mayoritas sumber pendanaan masih berasal dari bank. Oleh karena itulah bank memiliki peran yang penting dalam transmisi kebijakan moneter yang ditetapkan oleh bank sentral. Penelitian ini bertujuan untuk menganalisa struktur pasar yang terbentuk dalam industri perbankan Indonesia serta hubungannya terhadap efektivitas transmisi kebijakan moneter melalui bank lending channel. Penelitian ini akan menggunakan dua model, model pertama digunakan untuk mengukur nilai kompetisi yang kemudian menggambarkan struktur pasar yang terbentuk dalam industri perbankan. Model kedua menggunakan informasi yang didapat dari model pertama untuk dapat mengetahui penaruh struktur pasar terhadap efektivitas transmisi kebijakan moneter melalui bank lending channel. Dengan menggunakan metode cross-section untuk model pertama dan data panel untuk model kedua, penelitian ini menghasilkan kesimpulan bahwa struktur pasar dalam industri perbankan Indonesia berbentuk persaingan monopolistik, dan struktur pasar ini berpengaruh melemahkan efek dari kebijakan moneter.

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Banks in Indonesia are one among all financial institution with crucial role while most of economic funding are provided by Banks. Therefore, Banks has an important role in monetary policy transmission that is applied by the central bank. This research is intended to analyze the market structure which is formed in Banking Sector Industry in Indonesia and its relation to the effectivity of monetary policy transmission through Bank Lending Channel by using two models; first is used to measure competition value which will portray the market structure formed in Banking Sector Industry, and will be developed further to be able to get the effect on monetary policy transmission through bank lending channel. By using cross-section method for the first model, and data panelling for the second model, this research came to conclusion that the market structure in Banking Sector Industryhave the form of monopolistic competition and that this market structure weakens the effect of monetary policy."

"Dibukanya perbankan Indonesia kepada asing selepas Krisis Finansial 1998 berujung pada berbagai akuisisi dan merger bank-bank domestik dengan/oleh institusi-institusi asing. Mengikuti Taboada (2011), studi ini melihat apakah perubahan kepemilikan asing dalam sistem perbankan mempengaruhi efisiensi alokasi modal, yaitu pemberian lebih banyak kredit ke industri-industri nilai tambah tinggi dan lebih sedikit kredit ke industri nilai tambah rendah. Studi ini juga melihat karakteristik industri-industri yang mendapatkan lebih banyak kredit seiring bertambahnya kepemilikan asing di industri perbankan. Selain itu, studi ini juga mempelajari apakah meningkatnya kepemilikan asing berakibat pada berfokusnya industri perbankan kepada sektor konsumtif. Dengan metode panel pertumbuhan kredit ke sembilan sektor industri dari 2004Q1-2010Q4, studi ini menemukan bahwa penetrasi asing di perbankan Indonesia berakibat pada: a) efisiensi alokasi modal yang lebih baik; b) lebih banyak kredit kepada sektor-sektor pertumbuhan tinggi-porsi PDB rendah dan lebih sedikit kredit kepada sektor-sektor pertumbuhan rendah-porsi PDB tinggi; c) tidak ada perbedaan pertumbuhan kredit yang signifikan antara sektor konsumsi dan sektor produktif.

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The opening of the Indonesian banking system to foreign penetration following the 1998 financial crisis have led to a series of takeovers and mergers of domestic banks by/with foreign institutions. Following Taboada (2011), we study attempts to find if changes in foreign ownership in the Indonesian banking system affects the efficiency of capital allocation, that is increasing the loans the banking system makes to higher value added industries and decreasing them to lower value added industries. We also look for the characteristics of the industries that foreign penetration on the banking system leads more credit growth towards, and also whether of not it leads to more consumer credit.

This study uses panel estimation of credit growth towards industries towards nine economic sectors plus consumer loans from 2004Q1-2010Q4. We find that foreign bank penetration in Indonesia leads to: a) better capital allocation; b) more credit growth towards high-growth-low-share industries and less credit growth towards low-growthhigh share industries; c) no significant difference on consumer credit growth compared to other industries."

"Krisis moneter tahun 1997/1998 benar-benar menghancurkan hampir semua sektor yang menghidupkan negara Indonesia khususnya sektor perbankan. Krisis yang semula terjadi di sektor keuangan-perbankan ini kemudian melebar menjadi krisis industri yang berkepanjangan yang dampaknya masih terasa hingga saat ini.Pemerintah melalui Bank Indonesia dituntut bersikap cepat dan tepat dalam mengambil kebijakan terkait krisis moneter tersebut. Penulisan ini bertujuan untuk melihat dampak dari kebijakan pemerintah terhadap perkembangan industri pada sektor perbankan melalui metode simulasi. Adapun kebijakan pemerintah yang dijadikan objek penelitian ialah nilai tukar, jumlah uang beredar dan belanja negara.Model nantinya diharapkan dapat menjadi medium untuk menganalisa kebijakan pemerintah

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Monetery crisis in 1997/1998 has been elliminating almost all sector especially banking sector in Indonesia. Crisis that in beginning seemed only occur in banking sector, unfortunately became a sistemic crisis involving industry that gave a long lasting impact to us till now.The government through Bank of Indonesia was forced to be responsively take a steering wheel to save crisis. The purpose of this study is to analyze effect of government policy on banking sector to industry development using simulation methods. The policies that become the object of this study are exchange value, money supply and government expenses. The model is expected to be a tool to analyze government policy on banking sector using simulation scenarios applied."