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"ABSTRAKThe signs of economic recovery above can give a clearer banking industry prospects in the next year. This can be inferred by the possibility of cheaper loan given by the banks' to the real sectors. For investors, this condition might lead to question about the relationship between stock price return and key variables. This research intended to find these relationships. Economic variables chosen for this research are market indices (JCI), interest rate, and exchange rate (ID.R/IJSD). There is previous research that discusses the influence of these three independent variables to stocks return (Moerdinafitrasari, 2003).From 18 stocks that have listed on JSXfor more than 5 years, only 9 stocks has F-test significance level below 5%, they are BBCA, PNBN, BNII, BBNI, BDMN, BEKS, NISP, BNGA, BNLI. From the preliminary hypothesis that JCI significantly affects the stock return, research shows that this independent variable does affect BBCA, PIVBN, BNII, BBIVI, BDMN, BEKS, NISP, and BNGA (all of the 9 stocks except BNLI). Preliminary hypothesis statement of probable Interest rate significantly affects the stock return of BNII, while the return for the rest of the stocks is insignificantly influenced. Foreign exchange significantly affects the stock return of PNBN, while the return for the rest of the stocks is insignificantly influenced. From these conclusions we could draw several suggestions. First, before investing in banking stocks, investors should forecast JCI return. Second, because the return of banking stocks' only significantly affected by the return of JCI (except for BNII) in this research, it will be valuable to add or change the independent variables."

"Naik turunnya harga komoditas merupakan tantangan penting yang harus dihadapi oleh perusahaan berbasis komoditas agar dapat bertahan dan berkembang. Meningkatnya volatilitas siklus bisnis ini telah meningkatkan kesulitan dalam merespons secara strategis. Sebuah studi empiris telah dilakukan untuk membangun model organisasi bagi perusahaan berbasis komoditas guna menangani masalah ini secara mendasar. Penelitian ini menggunakan metodologi Structural Equation Modeling–Partial Least Square (SEM-PLS) untuk menganalisis 130 manajemen puncak yang mewakili 99 perusahaan pertambangan dan Minyak Sawit Mentah (CPO) di Indonesia. Hasil penelitian menunjukkan bahwa perusahaan berbasis komoditas dapat memiliki kinerja yang lebih baik dengan menjadi organisasi ambidekstrus. Untuk mencapai hal ini, perusahaan perlu memiliki orientasi terhadap siklus bisnisnya, yang ditentukan oleh visi manajemen puncak dan ketidakpastian lingkungan. Penelitian ini memberikan kontribusi pada literatur yang ada tentang manajemen strategis terkait dengan organisasi ambidekstrus, visi manajerial, orientasi organisasi, ketidakpastian lingkungan, dan implikasi kinerjanya. Penelitian ini memberikan saran manajerial dengan mengusulkan model yang dapat memberikan wawasan berharga dalam tujuan membangun perusahaan ambidekstrus siklus bisnis. ......The ups and down in commodity prices is arguably important challenges to deal with for commodity-based firms in order to strive and survive. The increasing volatility of this business cycle has increased the difficulties in responding strategically. An empirical study has been undertaken to build an organizational model for commodity-based firms to deal with this issue fundamentally. This study used the Structural Equation Modeling–Partial Least Square (SEM-PLS) methodology to analyze 130 top management representing 99 different mining and Crude Palm Oil companies in Indonesia. It found that commodity-based firm can have better performance by being an ambidextrous organization. In order to achieve this, firms need to have orientation towards its business cycle and this orientation is determined by its top management foresight and environmental uncertainties. This study contributes to the existing literature on strategic management in relation to ambidextrous organization, managerial foresight, organizational orientation, environmental uncertainty, and its performance implications. The study provides managerial advice by proposing a model that could give valuable insights in the purpose of building business cycle ambidextrous company. "