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Abstrak :
Penelitian ini bertujuan untuk menganalisis pengaruh cara pengelolaan modal kerja (working capital management) terhadap daya saing perusahaan dengan menggunakan metode regresi GMM. Penelitian ini berargumen bahwa perusahaan dengan turnover modal kerja yang tinggi dan likuiditas modal kerja yang rendah berpengaruh secara signifikan dalam meningkatkan pertumbuhan penjualan perusahaan tersebut. Sampel penelitian menggunakan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2007?2011. Hasil penelitian menunjukan secara statistik bahwa turnover modal kerja dengan proksi current asset turnover, inventory turnover, dan accounts receivable turnover berpengaruh positif secara signifikan terhadap pertumbuhan penjualan serta accounts payable turnover dan cash conversion cycle berpengaruh negatif secara signifikan terhadap pertumbuhan penjualan. Selanjutnya current ratio dan quick ratio, proksi dari likuiditas modal kerja berpengaruh negatif dengan signifikan terhadap pertumbuhan penjualan perusahaan. ...... This research is to analyze the effect of working capital management on the competitiveness of the company using GMM regression. The argument proposed in this research is that companies with high turnover and low liquidity of working capital increase their sales growth significantly. Samples used in this research are manufacturing companies listed in Indonesia Stock Exchange in 2007-2011. The results of the research indicate the proxy of working capital turnover; current asset turnover, inventory turnover, and accounts receivable turnover have a positive effect on the sales growth significantly. The other proxies of working capital turnover, which are accounts payable turnover and cash conversion cycle, have a negative effect on the sales growth significantly. Another finding is that current ratio and quick ratio, the proxies of working capital liquidity negatively affect sales growth significantly.

Abstrak :
Penelitian ini bertujuan untuk menganalisis pengaruh cara pengelolaan modal kerja (working capital management) terhadap daya saing perusahaan dengan menggunakan metode regresi GMM. Penelitian ini berargumen bahwa perusahaan dengan turnover modal kerja yang tinggi dan likuiditas modal kerja yang rendah berpengaruh secara signifikan dalam meningkatkan pertumbuhan penjualan perusahaan tersebut. Sampel penelitian menggunakan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2007?2011. Hasil penelitian menunjukan secara statistik bahwa turnover modal kerja dengan proksi current asset turnover, inventory turnover, dan accounts receivable turnover berpengaruh positif secara signifikan terhadap pertumbuhan penjualan serta accounts payable turnover dan cash conversion cycle berpengaruh negatif secara signifikan terhadap pertumbuhan penjualan. Selanjutnya current ratio dan quick ratio, proksi dari likuiditas modal kerja berpengaruh negatif dengan signifikan terhadap pertumbuhan penjualan perusahaan. ......This research is to analyze the effect of working capital management on the competitiveness of the company using GMM regression. The argument proposed in this research is that companies with high turnover and low liquidity of working capital increase their sales growth significantly. Samples used in this research are manufacturing companies listed in Indonesia Stock Exchange in 2007-2011. The results of the research indicate the proxy of working capital turnover; current asset turnover, inventory turnover, and accounts receivable turnover have a positive effect on the sales growth significantly. The other proxies of working capital turnover, which are accounts payable turnover and cash conversion cycle, have a negative effect on the sales growth significantly. Another finding is that current ratio and quick ratio, the proxies of working capital liquidity negatively affect sales growth significantly.

Abstrak :
Penelitian ini dilakukan dengan tujuan ingin mengetahui faktor yang mempengaruhi performa keuangan UMKM, yaitu dari sisi gaya pengambilan keputusan wirausahawan, dan faktor mediasinya, yaitu entrepreneurial ecosystem. Sampel yang digunakan dalam penelitian ini merupakan para wirausahawan atau pelaku UMKM di Indonesia yang berada di Jakarta, Jawa, dan Bali dan tergabung dalan komunitas IBAN (Indonesia Brand Activist Network). Terdapat 165 responden yang terkumpul dengan menggunakan metode purposive sampling. Kemudian diolah dan dianalisis menggunakan Partial Least Square - Structural Equation Method (PLS-SEM). Hasil penelitian ini menunjukkan dampak gaya pengambilan keputusan pada performa keuangan UMKM dan membantu para UMKM memahami pentingnya ekosistem dan latar belakang individu dalam keberlangsungan usaha. Gaya pengambilan keputusan direpresentasikan oleh rational, intuitive, dependent, spontaneous, dan avoidant. Dimana, wirausahawan dengan gaya pengambilan keputusan rational, intuitive, dependent, dan spontan memiliki dampak yang lebih kuat pada performa keuangan UMKM yang baik, dibandingkan avoidant. Walaupun, tidak ada gaya pengambilan keputusan yang paling menonjol, karena memiliki lebih dari satu gaya bukan fenomena umum. Entrepreneurial ecosystem disini direpresentasikan oleh educational institutional support, regional entrepreneurial culture, dan business and social network, dimana terbukti menjadi mediasi antara gaya pengambilan keputusan dan performa keuangan, kecuali regional entrepreneurial culture. Penelitian ini diharapkan dapat membantu UMKM memahami penggunaan gaya pengambilan keputusan terhadap keputusan bisnisnya. ......This research was conducted with the aim of knowing the factors that influence the financial performance of MSMEs, namely in terms of entrepreneurial decision-making style, and the mediating factor, namely entrepreneurial ecosystem. The sample used in this study are entrepreneurs or MSMEs in Indonesia who are in Jakarta, Java and Bali and are members of the IBAN community (Indonesia Brand Activist Network). There were 165 respondents collected using purposive sampling method. Then processed and analyzed using Partial Least Square - Structural Equation Method (PLS-SEM). The results of this study show the impact of decision-making style on the financial performance of MSMEs and help MSMEs understand the importance of ecosystems and individual backgrounds in business continuity. Decision making styles are represented by rational, intuitive, dependent, spontaneous, and avoidant. Where, entrepreneurs with rational, intuitive, dependent, and spontaneous decision-making styles have a stronger impact on the good financial performance of MSMEs, compared to avoidants. Although, there is no predominant decision-making style, because having more than one style is not a common phenomenon. Entrepreneurial ecosystem here is represented by educational institutional support, regional entrepreneurial culture, and business and social networks, which are proven to mediate between decision-making style and financial performance, except for regional entrepreneurial culture. This research is expected to help MSMEs understand the use of decision-making styles for their business decisions.

Abstrak :
Penelitian ini mengidentifikasi pengaruh proporsi direktur wanita dalam jajaran direksi terhadap performa keuangan perusahaan dalam sektor industri dan sektor keuangan di Indonesia pada 2017 hingga 2021. Performa keuangaan perusahaan diukur melalui ROA dan Price-to-Book Value (PtBV). Sampel penelitian ini adalah 43 perusahaan sektor industri dan 102 perusahaan sektor keuangan yang terdaftar di Bursa Efek Indonesia (BEI). Data penelitian diolah menggunakan regresi data panel dengan metode estimasi Fixed Effect Model dan Random Effect Model. Hasil penelitian ini menemukan bahwa proporsi direktur wanita dalam jajaran direksi tidak berpengaruh pada performa keuangan perusahaan jika tidak ada pengaruh dari variabel lain. Proporsi direktur wanita dalam jajaran direksi terbukti berpengaruh terhadap ROA perusahaan apabila terdapat leverage dalam keuangan perusahaan. Pengujian terhadap intensitas pembelanjaan modal dan leverage dalam keuangan perusahaan menunjukkan bahwa kedua variabel tersebut berpengaruh terhadap ROA perusahaan. ......This study identifies the effect of the proportion of female directors on the board of directors on the financial performance of companies in the industrial and financial sectors in Indonesia in the range of years from 2017 to 2021. The company's financial performance is measured through Return on Assets (ROA) and Price-to-Book Value (PtBV). The sample of this research are 43 companies in the industrial sector and 102 companies in the financial sector which are listed on the Indonesia Stock Exchange (IDX). The research data was processed using panel data regression with the Fixed Effect Model and Random Effect Model estimation methods. This study found that the proportion of female directors on the board of directors is not related to the financial performance of companies in Indonesia if there is no influence from other variables. The proportion of female directors in the board of directors is proven to have an effect on the Return on Assets (ROA) of companies in Indonesia if there is influence from leverage in the company's finances. Tests on the control variables, namely the intensity of capital expenditure and leverage in corporate finance, show that these two variables affect the company's Return on Assets (ROA).

Abstrak :
Skripsi ini membahas tentang pembentukan portfolio yang terdiri dari 10 saham yang mempunyai nilai kapitalisasi pasar terbesar dengan menggunakan metode market capitalization-weighted indexing, equal-weighted indexing, dan diversity indexing. Portfolio yang sudah dibentuk menggunakan metode tersebut, kemudian diukur kinerjanya dengan menggunakan Treynor, Sharpe, Jensen alpha, dan Information Ratio. Dari hasil penilaian kinerja dan penelitian berdasarkan portfolio yang sudah dibentuk menunjukkan metode market capitalizationweighted merupakan metode yang paling bagus untuk digunakan dalam membentuk suatu portfolio ......This study discusses the establishment of portfolio that composed from 10 biggest market capitalization stock with market capitalization-weighted indexing, equalweighted indexing, diversity indexing. Then, the performance of portfolio measured with Treynor, Sharpe, Jensen alpa, and Information Ratio. Based on research and performance analysis, market capitalization-weighted indexing method is the best method that can be used for composing a portfolio.

Abstrak :
[ABSTRAK
Tujuan dari penelitian ini adalah untuk mengeksplorasi faktor-faktor yang mempengaruhi struktur modal di Indonesia dengan mengunakan book leverage dan market leverage sebagai variabel dependen. Dengan menggunakan analisis regresi berganda, penelitian memakai perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2010-2014. Sampel akhir terdiri dari 112 perusahaan manufaktur. Hipotesis tentang keputusan leverage dirumuskan berdasarkan teori struktur modal, terutama teori trade-off, teori pecking order dan teori agency. Regresi dijalankan dengan mempertimbangkan delapan variabel penjelas yang meliputi ukuran perusahaan, profitabilitas, peluang pertumbuhan, aset tangible, pajak, risiko perusahaan, kondisi pasar saham, dan variabel makroekonomi. Hasil empiris menyajikan hubungan yang signifikan antara aset, umur perusahaan, profitabilitas, rasio market to book, aset tangible, macro economic grow, PDB dan variabel book leverage. Di sisi lain, faktor yang signifikan pada market leverage adalah umur perusahaan, profitabilitas, rasio market to book, pertumbuhan aset, capital expenditure, effective tax rate, macro industry growth dan PDB. ABSTRACT
The aim of this study is to explore the factors that affect the capital structure in Indonesia by taking book leverage and market leverage as the dependent variables. Using multiple regression analysis, listed manufacturing companies in Indonesian Stock Exchange was examined for the period of 2010-2014. The final sample consist of 112 manufacturing companies. Hypotheses about leverage decisions are formulated based on capital structure theories, mainly trade-off theory, pecking order theory and agency theory. Regression considers eight explanatory variables that include firm size, profitability, growth opportunity, tangibility, taxes, firm risk, stock market conditions, and macroeconomic variables. The empirical result presents the significant relationship between asset, age, profitability, market to book ratio, tangible asset, macro industry growth, GDP and book leverage variables. On the other hand, factors that have significant effect on market leverage are age, profitability, market to book ratio, asset growth, capital expenditure, effective tax rate, macro industry growth and GDP., The aim of this study is to explore the factors that affect the capital structure in Indonesia by taking book leverage and market leverage as the dependent variables. Using multiple regression analysis, listed manufacturing companies in Indonesian Stock Exchange was examined for the period of 2010-2014. The final sample consist of 112 manufacturing companies. Hypotheses about leverage decisions are formulated based on capital structure theories, mainly trade-off theory, pecking order theory and agency theory. Regression considers eight explanatory variables that include firm size, profitability, growth opportunity, tangibility, taxes, firm risk, stock market conditions, and macroeconomic variables. The empirical result presents the significant relationship between asset, age, profitability, market to book ratio, tangible asset, macro industry growth, GDP and book leverage variables. On the other hand, factors that have significant effect on market leverage are age, profitability, market to book ratio, asset growth, capital expenditure, effective tax rate, macro industry growth and GDP.]

Abstrak :
Pengaruh kepemilikan keluarga terhadap kebijakan corporate cash holdings perusahaan terkait dengan munculnya kemungkinan permasalahan konflik keagenan antara manajemen dengan pemegang saham, misalnya dalam perbedaan pandangan mengenai masalah waktu. Manajemen cenderung memprioritaskan tujuan jangka pendek, sedangkan pemegang saham lebih memprioritaskan tujuan jangka panjang. Selain itu dijelaskan pula perlunya mengawasi dan mengelola kas mengingat kas merupakan aset yang paling likuid sehingga rentan untuk disalahgunakan. Kesimpulan dari penelitian ini adalah bahwa kepemilikan keluarga berpengaruh signifikan terhadap kebijakan corporate cash holdings perusahaan. ......The aim of this research is to observe how family ownership effect corporate cash holding policy related agency conflict between management and shareholders, for time horizon problem. Management tends to prioritize short run goal, beside it shareholders tends to reach long term value creation. Besides it, monitoring and managing cash flow is important to prevent cash missappropriate because it is most liquid assets. The conclution of this research that family ownership have significant effect to corporate cash holding.

Abstrak :
Penelitian ini bertujuan untuk menganalisis pengaruh corporate social responsibility performance terhadap efisiensi investasi perusahaan, pada perusahaan non keuangan yang memiliki corporate social responsibility performace di negara ASEAN-5 yaitu Indonesia, Singapura, Malaysia, Thailand dan Filipina pada periode 2010-2015. Penelitian ini menggunakan model regresi least square dengan fixed effect method. Hasil penelitian ini menunjukan bahwa corporate social responsibility performance berpengauh negatif dan signifikan terhadap inefisinesi investasi, hal ini menujukan bahwa perusahaan yang memiliki corporate social responsibility yang tinggi berinvestasi lebih efisien. ......This study aims to analyze the influence of corporate social responsibility performance on the efficiency of corporate investment, in non financial companies that have corporate social responsibility performance in ASEAN 5 countries, which are Indonesia, Singapore, Malaysia, Thailand and the Philippines in the period 2010-2015. This sudy uses least square regression model with fixed effect method. The results of this study indicate that corporate social responsibility performance has a negative and significant impact on investment inefisinesi, this indicates that companies with high corporate social responsibility invest more efficiently.

Abstrak :
Skripsi ini bertujuan untuk menganalisis adanya pengaruh dukungan hadiah dan dukungan reputasi terhadap kinerja pendanaan proyek crowdfunding di negara BRICS. Metode penelitian yang digunakan adalah ordinary least square dengan 582 data cross-section berupa proyek kreatif crowdfunding tiga kategori teratas di platform Kickstarter dari tahun 2009 hingga tahun 2019. Secara serempak dukungan hadiah dan dukungan reputasi ditemukan berpengaruh signifikan terhadap kinerja pendanaan proyek crowdfunding di negara Brazil, Rusia, India, China, dan Afrika Selatan (BRICS). Dukungan hadiah yang dijelaskan oleh ego-boosting, cuztomized, dan community reward berrpengaruh signifikan terhadap terhadap kinerja pendanaan proyek crowdfunding di negara BRICS karena memiliki nilai unik yang tidak diperoleh pelanggan biasa dan dapat memberikan pengalaman bagi backer. Jumlah updates dan jumlah komentar sebagai variabel yang menjelaskan dukungan reputasi terbukti berpengaruh signifikan terhadap kinerja pendanaan proyek crowdfunding karena berguna untuk sarana komunikasi dan sumber informasi bagi backer. ......The purpose of this study is to analyze the role of reward and reputation support on the performance of crowdfunding project in BRICS countries. Ordinary least square is used as methodology research with 582 cross-sectional data from top three creative projects that conduct in Kickstarter’s platform from 2009 to 2019. This research finds that reward and reputation support influence the performance of crowdfunding project in BRICS countries simultaneously. Ego-boosting, cuztomized, and community as variables that explain reward support are significantly influence the performance of crowdfunding project in BRICS countries since the uniqueness that does not get by another customer and it also gives backer experiences. The number of updates and comments as variabel of reputation support are significantly influence the performance of crowdfunding project in BRICS countries because it is useful for giving information to backer and as medium of communication.

Abstrak :
Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi keberhasilan crowdfunding berbasis reward dengan menggunakan dua sumber informasi yaitu founder dan backers melalui signaling and endorsement theory pada 498 proyek crowdfunding berbasis reward di lima besar sektor industri dalam daftar ASEAN-Five. negara. di platform Kickstarter. Untuk mencapai tujuan tersebut, peneliti menggunakan uji regresi logistik dan odds ratio dalam pengolahan data. Peneliti juga menambahkan analisis sektoral melalui uji regresi linier OLS. Penelitian ini membuktikan bahwa terdapat pengaruh yang signifikan dan positif informasi dari founder yang terdiri dari jumlah gambar, ketersediaan video, ketersediaan homepage, dan jumlah update terhadap variabel dependen. Selain itu, variabel jumlah komentar dan sentimen komentar terhadap endorsement juga berpengaruh positif dan signifikan terhadap variabel dependen. Hasil penelitian ini membuktikan bahwa informasi dari founder dan backers sangat penting dalam mengatasi asimetri informasi yang dialami oleh fenomena crowdfunding berbasis reward di negara-negara ASEAN-Five. Pembahasan hasil analisis juga diperkaya dengan pernyataan dan komentar yang disampaikan oleh para pendukung untuk memperdalam pemahaman tentang pengaruh masing-masing variabel independen terhadap keputusan pendukung dalam pengambilan keputusan pendanaan. ......This study aims to analyze the factors that influence the success of reward-based crowdfunding using two sources of information, namely founders and backers through signaling and endorsement theory on 498 reward-based crowdfunding projects in the top five industrial sectors in the ASEAN-Five list. country. on the Kickstarter platform. To achieve these objectives, researchers used logistic regression tests and odds ratios in data processing. Researchers also added sectoral analysis through the OLS linear regression test. This study proves that there is a significant and positive effect of information from founders consisting of the number of images, video availability, homepage availability, and number of updates on the dependent variable. In addition, the variable number of comments and comment sentiment on endorsement also has a positive and significant effect on the dependent variable. The results of this study prove that information from founders and backers is very important in overcoming information asymmetry experienced by the reward-based crowdfunding phenomenon in ASEAN-Five countries. The discussion of the results of the analysis is also enriched with statements and comments submitted by supporters to deepen understanding of the effect of each independent variable on supporting decisions in making funding decisions.