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"ABSTRAKPemerintah mengeluarkan peraturan baru terkait kualitas timah yang dapat diekspor minimum mengandung 99,9% Sn (Peraturan Menteri Perdagangan Nomor 32/M-DAG/PER/6/2013. Adanya aturan ini dianggap perusahaan menjadi peluang bisnis bagi perusahaan. Tujuan penelitian ini adalah untuk mengetahui jenis ? jenis strategi pembiayaan yang dapat ditempuh oleh perusahaan sehubungan dengan rencana perluasan fasilitas refining, untuk mengetahui strategi mana yang paling efisien bagi perusahaan ditinjau dari segi perpajakan, dan untuk mengetahui faktor ? faktor yang perlu dipertimbangkan dalam menentukan strategi pembiayaan sehubungan dengan rencana perluasan refining. Strategi pembiayaan yang dianalisis dalam penelitian ini adalah pembiayaan melalui bank financing, shareholder debt financing, equity financing dan leasing. Strategi terbaik adalah pembiayaan melalui bank financing dengan skema 60% bank financing dan 40% debt tanpa menerapkan fasilitas Peraturan Pemerintah nomor 1 tahun 2007. Selain itu faktor ? faktor yang juga perlu dipertimbangkan dalam menentukan strategi pembiayaan antara lain: besarnya pembiayaan eksternal, shareholder debt financing, penerapan metode saldo menurun, fasilitas penyusutan dipercepat sesuai PP No. 1 tahun 2007, opportunity cost shareholder, condition precedent, covenants, jaminan kreditur, dan event of default.

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ABSTRACTThe Government of Indonesia has issued a new regulation concerning minimum quality of Stannum can be exported of 99,9% Sn (Peraturan Menteri Perdagangan Nomor 32/M-DAG/PER/6/2013). This regulation is a bussiness chance for company. The purpose of this study is to study the type of strategies to finance the planned expansion of refining facilities, to find out which strategy is the most efficient one for company in term of taxation and to determine the factors to consider in determining the most appropriate financing strategy in connection with the planned expansion of refining. The analyzed financing strategy in this study was financing through bank financing, shareholder debt financing, equity financing and leasing. Bank financing is the best strategy with consist of 60% bank financing and 40% debt facilities without implementing The Government Regulation No.1 of 2007. In addition, factors that also needs to be considered in determining the best strategies, among others: the amount of external financing, shareholder debt financing, the application of the declining balance method, accelerated depreciation facilities provided by Government Regulation No. 1 of 2007, the opportunity cost of shareholders, condition precedent, covenants, collateral lender, and events of default.;ABSTRAKPemerintah mengeluarkan peraturan baru terkait kualitas timah yang dapat diekspor minimum mengandung 99,9% Sn (Peraturan Menteri Perdagangan Nomor 32/M-DAG/PER/6/2013. Adanya aturan ini dianggap perusahaan menjadi peluang bisnis bagi perusahaan. Tujuan penelitian ini adalah untuk mengetahui jenis ? jenis strategi pembiayaan yang dapat ditempuh oleh perusahaan sehubungan dengan rencana perluasan fasilitas refining, untuk mengetahui strategi mana yang paling efisien bagi perusahaan ditinjau dari segi perpajakan, dan untuk mengetahui faktor ? faktor yang perlu dipertimbangkan dalam menentukan strategi pembiayaan sehubungan dengan rencana perluasan refining. Strategi pembiayaan yang dianalisis dalam penelitian ini adalah pembiayaan melalui bank financing, shareholder debt financing, equity financing dan leasing. Strategi terbaik adalah pembiayaan melalui bank financing dengan skema 60% bank financing dan 40% debt tanpa menerapkan fasilitas Peraturan Pemerintah nomor 1 tahun 2007. Selain itu faktor ? faktor yang juga perlu dipertimbangkan dalam menentukan strategi pembiayaan antara lain: besarnya pembiayaan eksternal, shareholder debt financing, penerapan metode saldo menurun, fasilitas penyusutan dipercepat sesuai PP No. 1 tahun 2007, opportunity cost shareholder, condition precedent, covenants, jaminan kreditur, dan event of default.

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ABSTRACTThe Government of Indonesia has issued a new regulation concerning minimum quality of Stannum can be exported of 99,9% Sn (Peraturan Menteri Perdagangan Nomor 32/M-DAG/PER/6/2013). This regulation is a bussiness chance for company. The purpose of this study is to study the type of strategies to finance the planned expansion of refining facilities, to find out which strategy is the most efficient one for company in term of taxation and to determine the factors to consider in determining the most appropriate financing strategy in connection with the planned expansion of refining. The analyzed financing strategy in this study was financing through bank financing, shareholder debt financing, equity financing and leasing. Bank financing is the best strategy with consist of 60% bank financing and 40% debt facilities without implementing The Government Regulation No.1 of 2007. In addition, factors that also needs to be considered in determining the best strategies, among others: the amount of external financing, shareholder debt financing, the application of the declining balance method, accelerated depreciation facilities provided by Government Regulation No. 1 of 2007, the opportunity cost of shareholders, condition precedent, covenants, collateral lender, and events of default."

"ABSTRACTIn order to support accelerated growth and cross selling transaction as well as strengthening the position of state-owned enterprises to face free competition and globalization, synergy in all of the lines business are needed. One of them is the transactional synergy where the source of financing came from Islamic commercial bank subsidiaries of SOEs. The research concluded that both frequency and value of transactions are significantly influence Financing to Debt Ratio (FDR) and Non Performing Financing (NPF) Islamic commercial band subsidiaries of SOEs. Partially, from the side of its influence on FDR: the more number of synergy transactional accounts of SOE, the higher FDR Islamic commercial bank subsidiaries of SOEs. The larger the value of synergy transactional SOEs, the lower the FDR Islamic commercial bank subsidiaries of SOEs. Partially, from the side of its effects on the NPF: the more number of synergy transactional accounts of SOEs, the higher NPF Islamic commercial bank subsidiaries of SOEs. The larger the value of synergy transactional SOEs, the higher NPF Islamic commercial bank subsidiaries of SOEs. In the implementation of synergy transactional, PT BNI is at level of efficiency, while PT BSM and PT BRIS are not."

"Tesis ini membahas pilihan atas alternatif pendanaan yang lebih baik antara Obligasi dan Sekuritisasi Aset untuk PT Bank Tabungan Negara (Persero) Tbk. Saat ini permasalahan maturity mismatch yang dihadapi oleh perusahaan menyebabkan bank menghadapi risiko likuiditas yang tinggi, untuk itu tulisan ini akan menganalisis melalui rasio keuangan bagaimana dampak terhadap pos-pos laporan keuangan setelah menggunakan alternatif dari pendanaan tersebut. Penelitian ini merupakan studi kasus pada perusahaan dengan desain deskriptif. Hasil penelitian menyarankan bahwa perusahaan lebih baik menggunakan dan mempertahankan pendanaan melalui Sekuritisasi Aset selain dapat menghindari perusahaan terhadap resiko kredit namun juga secara kontinyu dapat meningkatkan fee based income.

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This thesis explores a better alternative funding options between Bond and Asset Securitization for PT Bank Tabungan Negara (Persero) Tbk. Presently maturit y mismatch problems faced by the company led to banks facing high risk liquidity, for that reason this paper will analyze how the impact of the financial ratios of the financial statements of the posts after using of the said alternative financing. This research is studying the case in companies with a descriptive design. The results suggest that the company is better to use and maintain the financing through Asset Securitization in order to not only avoid credit risk but also can continuously improve the fee-based income."

"Penelitian ini dilakukan untuk menganalisis faktor-faktor yang memengaruhi risiko likuiditas pada perbankan konvensional dan syariah di Indonesia. Faktor-faktor dalam penelitian ini dibandingkan untuk mengukur efek pada risiko likuiditas, yang meliputi faktor internal dalam bentuk ukuran bank (SIZE), Capital Adequacy Ratio (CAR), Return on Assets (RoA), Non Performing Loan/Financing (NPL/F), Pembiayaan terhadap Total Aset (FIN), Equity to Total Asset (ETA) dan faktor eksternal (variabel makroekonomi) dalam bentuk Gross Domestic Product (GDP), Inflasi (INF) dan suku bunga (INT). Sementara itu, untuk mengukur likuiditas, penulis menerapkan pendekatan Loan to Deposit Ratio (LDR) dan Financing Gap to Total Asset Ratio (FGAPR). Regresi panel data dari 50 bank konvensional dan 11 bank syariah dari 2012 hingga 2016 dianalisis untuk mengevaluasi hubungan mereka dengan tujuan bahwa faktor-faktor yang memengaruhi risiko likuiditas dapat diidentifikasi, diukur, dan diantisipasi oleh manajemen dalam mengelola risiko likuiditas bank

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This research is conducted to analyze the factors that influence liquidity risk in conventional and sharia banking in Indonesia. Factors in this study were compared to measure the effect on liquidity risk, which includes internal factors in the form of bank size (SIZE), Capital Adequacy Ratio (CAR), Return on Assets (RoA), Non Performing Loan / Financing (NPL / F), Financing to Total Assets (ETA), Equity to Total Assets (ETA) and external factors (macroeconomic variables) in the form of Gross Domestic Product (GDP), inflation (INF) and interest rate (INT). Meanwhile, to measure liquidity, we apply the Loan to Deposit Ratio (LDR) and Financing Gap to Total Asset Ratio (FGAPR) approach. The panel data regression from 50 conventional banks and 11 sharia banks from 2012 to 2016 were analyzed to evaluate their relationship with the aim that factors affecting liquidity risk can be identified, measured, and anticipated by management in managing bank liquidity risk."