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"Perumusan masalah dalam penulisan tesis ini adalah apakah variabel-variabel makro ekonomi (variabel independent) yaitu perubahan tingkat inflasi, tingkat bunga rill, dan nilai tukar RpIUSS mempunyai pengaruh yang signifikan terhadap return IHSG ( Indeks Harga Sahara Gabungan ) dan return tujuh portofolio saham sector industri ( variabel dependen) di BET (Bursa Efek Jakarta ) pada periode Juli 1997 s.d. Desember 2003 baik secara partial maupun bersama-lama.Untuk menganalisis permasalahan dan menguji hipotesa penelitian digunakan model multi factor melalui pendekatan Arbitrage Pricing Theory (APT) sebagaimana yang digunakan Roll dan Ross (1986) dengan memakai model regresi multi variate.Dari basil analisa dan pembahasan dapat disimpulkan bahwa perubahan tingkat inflasi, tingkat bunga riil, dan nilai tukar RpIUSS mempengaruhi return IHSG dan tujuh portofolio saham sector industri. Kesimpulan secara garis besar adalah sebagai berikut : perubahan tingkat inflasi, tingkat bunga riil, dan nilai tukar RpIUSS mempengaruhi secara negative dan signifikan pada beberapa time lag terhadap return IHSG, Return Portofolio II ( aneka industri), Return Portofolio IV ( property, real estat, dan konstruksi), Return Portofolio V ( infrastruktur, utility, dan transportasi), dan Return Portofolio VII ( perdagangan, jasa, dan investasi). Sedangkan Return Portofolio I ( Industri Dasar dan Kimia), Return Portofolio III ( Industri Barang Konsumsi), dan Return Portofolio VI ( Keuangan) hanya dipengaruhi secara negative dan signifikan pada beberapa time lag oleh perubahan tingkat bunga rid dan nilai tukar RpIUS$. Namun Return Portofolio I, Return Portofolio III, dan Return Portofolio VI dipengaruhi secara positif dan signifikan oleh perubahan tingkat inflasi. Oleh karena itu Return Portofolio I, Return Portofolio III, dan Return Portofolio VI mempunyai korelasi positif dengan perubahan tingkat inflasi karena pada saat inflasi naik maka Return Portofolio I, Return Portofolio III, dan Return Portofolio VI juga naik.

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Problem formulation of thesis is what macroeconomic variables ( exchanges of inflation rate , real interest rate, and RpIUS$ rate) are have significant influence toward Jakarta Stock Exchange Index (JSX Index) return and seven stock portfolios of industry sector return at Jakarta Stock Exchange (JSX) during July 1997 until December 2003 either partial or together.

The research uses multi factors model based on Arbitrage Pricing Theory Approach with multivariate regression model as used by Roll and Ross (1986),

Based on the analysis and investigation, we get some conclusions. First, the changes of inflation rate, real interest rate, and RpIUS$ exchange rate influence JSX index return and seven portfolio industry sector return in different directions depend on time Iag and each dependent variable. More specific, the changes of inflation rate, real interest rate, and Rp1US$ exchange rate have negative direction and significant influence in some time lag toward JSX index , Return of Portfolio II ( aneka industri), Return of Portfolio IV ( property, real estat, dan konstruksi), Return of Portfolio V ( infrastruktur, utility, transportasi), Return of Portfolio VII ( perdagangan, jasa, dan investasi). Return of Portfolio I ( industri dasar dan kimia), Return of Portfolio III (industri barang konsumsi), and Return of Portfolio VI (keuangan) are only influenced negatively and significantly by the changes of real interest rate and RpIUS$ exchange rate in some time lag. Nevertheless, Return of Portfolio I, Return of Portfolio III, and Return of Portfolio IV are influenced positively and significantly by the changes of inflation rate. Because of that, Return of Portfolio I, Return of Portfolio III, and Return of Portfolio IV have positive correlation toward the change of inflation rate because when inflation rate goes up, the RPF1, RPF3, and RPF6 also go up."

"[ASBTRAKPenelitian ini bertujuan untuk menguji pengaruh dari growth opportunity yangdiukur dengan Market To Book Value of Assets (MVABVA), net working capitaldiukur dengan perbandingan antara net current assets minus kas dengan total asetnonkas, dan profitability yang diukur dengan Return On Equity (ROE) terhadapcash holding yang diukur dengan perbandingan antara kas dan setara kas dengantotal aset nonkas, menggunakan sampel perusahaan nonkeuangan yang terdaftar diBEI periode 2010 ? 2014. Hasil penelitian ini menunjukkan bahwa growthopportunity berpengaruh positif terhadap cash holding, net working capitalberpengaruh negatif terhadap cash holding dan profitability berpengaruh positifterhadap cash holding.

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ABSTARCTThis study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding, This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding]"

"Penelitian ini memiliki tujuan untuk menguji pengaruh likuiditas terhadap profitabilitas pada perusahaan jasa sub sektor telekomunikasi di indonesia studi pada perusahaan jasa yang terdaftar di bursa efek indonesia tahun 2009 - 2016 . Penelitian ini dilakukan pada 5 perusahaan telekomunikasi yang terdaftar di Bursa Efek Indonesia. Data penelitian bersumber dari data sekunder yaitu laporan keuangan 5 perusahaan telekomunikasi tahun 2009 sampai dengan 2016. Analisis data menggunakan regresi linier berganda untuk menguji pengaruh variabel independen terhadap variabel dependen. Pengolahan data dilakukan menggunakan aplikasi EViews 10.0. Hasil penelitian menunjukkan bahwa selama periode 2009-2016 terdapat penemuan variable current ratio dan net working capital secara parsial berpengaruh positif tidak signifikan terhadap return on asset, dan variabel quick ratio dan secara parsial berpengaruh negative tidak signifikan terhadap return on asset.

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The objective of this research is to examine the effect of liquidity on profitability in telecommunication sector company in indonesia study on service company listed in stock exchange indonesia year 2009-2016.

This research was conducted on 5 telecommunication companies listed in Bursa Efek Indonesia. The research data is sourced from secondary data that is financial report of 5 telecommunication company in 2009 until 2016. Data analysis using multiple linear regression to test the influence of independent variable to dependent variable Data processing is done using application of EViews 10.0.

The result of research indicate that during period 2009 2016 there is the discovery of variable current ratio and net working capital partially positive effect is not significant to return on asset, and variable quick ratio partially not significant negative effect on return on asset."

"Pertumbuhan jumlah perusahaan asuransi di Indonesia selama kurun waktu 5 tahun terakhir mengalami peningkatan terus menerus. Hal ini menunjukkan bahwa secara tidak langsung kompetisi di dalam industri ini semakin meningkat. Selain itu, sumber daya pekerja dianggap semakin penting dari tahun ke tahun bagi perusahaan dan merupakan aset. Selama ini, perusahaan sudah melakukan investasi bagi para pekerjanya. Namun, masih terdapat black box gap mengenai apakah investasi terhadap pekerja yang dilakukan perusahaan sudah memberikan nilai timbal balik. Penelitian ini berfokus pada perhitungan tingkat pengembalian dari investasi pekerja sales dan perancangan Human Resources Metrics sebagai pengukuran kinerja human capital.Penelitian ini dilakukan dengan perhitungan Human Capital Return on Investment bagi pekerja penjualan asuransi menggunakan faktor pemasukan dari pekerja, serta biaya (investasi) yang dilakukan oleh perusahaan bagi pekerja. Metode selanjutnya adalah perancangan Human Resources Metrics yang memiliki faktor-faktor sesuai bagi perusahaan.Hasil penelitian menunjukkan Human Capital Return on Investment pekerja penjualan yang positif. Hal ini berarti investasi pada pekerja sudah menghasilkan pengembalian (profit) bagi perusahaan serta didapatkan Human Resources Metrics yang memiliki 16 faktor yang sesuai bagi perusahaan.

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Growth of Indonesia insurance company in the last 5 years has increasing continuously. This shows the increasing of competition in this industry. In addition, workers have been considered as an asset and important for the company from time to time. Company has invested on its worker. However, there?s still a black box gap which means whether an investment of workers has already given the return of value to the company. This research focuses on the calculation of the human capital return on investment of sales and the design of Human Resources Metrics as the human capital performace valuation.This research will be conducted with calculation of Human Capital Return on Investment (HC ROI) of sales using the revenue that is generated by the workers and the cost (investment) from the company to the workers. The next method is designing the Human Resources Metrics that the factors are suitable for the company.The results showed the Human Capital Return on Investment of sales are positive which means that the investment of workers has already given the return value (profit) to the company and Human Resources Metrics that have 16 factors which is suitable for the company."

"Skripsi ini bertujuan untuk membahas dan menjelaskan tentang akad musyarakah dalam lingkup bank umum syariah di Indonesia. Analisis difokuskan pada kalusul jaminan pengembalian modal dalam akad musyarakah di Bank ABC dan Bank XYZ. Bentuk yang digunakan penulis dalam skripsi ini adalah yuridis normatif, yang mana penulis melakukan penelitian terhadap peraturan perundang-undangan yang berlaku. Sifat dari penelitian ini adalah deskriptif analitis. Hasil penelitian ini menunjukkan bahwa Bank ABC dan Bank XYZ dalam praktiknya mencantumkan jaminan pengembalian modal di dalam akad musyarakah kepada para nasabahnya. Ketentuan tersebut tidak sesuai dengan Fatwa Dewan Syariah Nasional Majelis Ulama Indonesia (DSN-MUI) dan Standar Internasional The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) tentang Musyarakah, dimana ketentuan tersebut berpotensi merugikan nasabah. Penelitian ini menyarankan agar Bank ABC dan Bank XYZ dalam melakukan pembiayaan musyarakah harus memastikan kepatuhan terhadap hukum positif. Lebih lanjut, klausul jaminan pengembalian modal pada akad musyarakah di Bank ABC dan Bank XYZ tersebut mengakibatkan perjanjian tersebut batal demi hukum karena melanggar syarat sah objektif sebuah perjanjian.

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This thesis aims to discuss and explain the musyarakah contract within the scope of sharia commercial banks in Indonesia. The analysis focuses on the capital return guarantee clause in the musyarakah contract at Bank ABC and Bank XYZ. The form of research used by the author in this thesis is juridical normative, whereby the author researches applicable laws and regulations. The typology of this research is analytical descriptive. The results of this research show that Bank ABC and Bank XYZ in practice include a capital return guarantee clause in their musyarakah contract with their customers. The capital return guarantee clause is not in accordance with the Fatwa of the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) and the International Standard of The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) concerning Musyarakah, in which the clause has the potential to harm customers interest. This research suggests that Bank ABC and Bank XYZ, in conducting musyarakah contract, must ensure the compliance with positive laws. Furthermore, the capital return guarantee clause in musyarakah contract at Bank ABC and Bank XYZ resulted in the contract being null and void because it violated the objective legal conditions of an agreement."

"ABSTRAKIndonesia sebagai negara yang sedang berkembang banyak membutuhkan infrastruktur untuk menunjang era industrialisasi. Listrik tetap menjadi prioritas utama untuk dibangun terutama di luar Pulau Jawa. Kalimantan Barat sebagai salah satu bagian Indonesia saat ini sedang giat-giatnya membangun, terutama di sektor perkebunan, transmigrasi dan industri. Disisi lain pertumbuhan infrastrukturnya kalah cepat dengan permintaan. Untuk itu pilihannya adalah membangun pembangkit listrik berbahan bakar gambut, pilihan ini didasarkan karena Kalimantan Barat amatlah kaya dengan sumber bahan gambut ini. Mutu gambut di Kalimantan adalah sangat baik dan dapat digunakan secara ekonomis untuk di suplai ke pembangkit tenaga listrik. Untuk pembangkit listrik 2 X 60 MW dengan masa operasi 20 tahun diperkirakan membutuhkan area gambut seluas 10.000 Ha. Pada kasus ini lokasi lahan gambut terdapat disekitar kota Pontianak (Siantan 70.000 Ha dan Rasau Jaya lebih dari 30. 000 Ha).Tesis ini akan membahas Analisa Pengembalian Modal Investasi untuk pembangunan 2 x 60 Mw pembangkit listrik berbahan bakar gambut di Pontianak Kalimantan Barat. Hasil analisis dan perhitungan dari tesis ini memperlihatkan bahwa nilai tukar mata uang yang paling rendah diinginkan investor adalah Rp. 3500 dengan memakai asumsi yang ada. Dari nilai tukar rupiah tersebut didapat IRR 10,63 %, NPV M US $ 2,209."