ABSTRAK
Tesis ini membahas tentang aplikasi pendekatan structure-conduct performance untuk menganalisis kinerja industri AB. Tahapan-tahapan penelitian dilakukan dengan melakukan pengolahan dan analisa data sekunder yakni LaporanKeuangan dan data Transaksi Efek. Pengukuran structure (struktur pasar)dilakukan dengan menggunakan metode rasio konsentrasi (CRn) dan Herfindahl Hirschman Index (HHI), dan Panzar & Rosse. Perilaku (conduct) dilakukanpengukuran melalui analisa penetapan harga produk,analisa kegiatan di luarbidang usaha, dan kasus. Sedangkan performance (kinerja) diukur menggunakanprofit marjin, BOPO, asset turnover, ROA, dan ROE. Selanjutnya hasil analisadata sekunder, dijadikan bahan utama untuk melaksanakan interview (Bursa EfekIndonesia) dan survey (Anggota Bursa), yang bertujuan untuk mengetahuipersepsi dari masing-masing pihak terkait fenomena keuangan yang terjadi diindustri dan usulan regulasi yang disimpulkan. Berdasarkan hasil analisa diketahuibahwa struktur pasar industri AB adalah Pasar Persaiangan Sempurna (CRn danHHI) atau Persaingan Monopolistik (Panzar-rosse), untuk tingkat kompetisiindustri sangat ketat (overcompetition), excessive dan mengarah ke cut throatcompetition yang ditandai dengan kompetisi penetapan harga produk (feeTransaksi), adanya pelaku industri yang mengandalkan pendapatan di luar bidangusaha, dan terjadinya kasus pelanggaran ketentuan. Analisis kinerja industri jugamenunjukan tren yang cenderung menurun dan lebih rendah dibandingkan denganindustri keuangan lainnya (asuransi). Berkenaan dengan hal tersebut diusulkanuntuk dikeluarkan pengaturan terkait besaran minimum tarif fee Transaksi Efeksebagai solusi jangka pendek untuk membuat iklim kompetisi yang sehat dankesempatan bagi AB untuk memperkuat diri, dan penerbitan produk-produk yangmenarik bagi investor sehingga dapat meningkatkan nilai Transaksi Efek yangberujung pada kenaikan nilai pendapatan dari AB.
ABSTRACT
This thesis discusses about application Structure-Conduct-Performance approach in analyzing the performance Exchange Member's industry. The stages ofresearch is done by the processing and analysis of secondary data that FinancialStatements and Transaction Data. Measurements structure (structure of themarket) were calculated using the concentration ratio (CRn) and the Herfindahl -Hirschman Index (HHI), and using Panzar-rosse. Understanding the conduct byanalysis of product pricing, analysis activities outside the core business, and thecase, while the performance using the profit marjin, BOPO, assets turnover, ROA,and ROE. Furthermore, secondary data analysis, become the main topic to carryout the interview (with Indonesia Stock Exchange) and the survey (with ExchangeMember), which aims to determine the perception of each party related financialphenomena that occur in the industry and the proposed regulations are concluded.Based on the analysis known that the industry market structure AB is a market ofPerfect competition (CRN and HHI) or Monopolistic Competition (Panzar-rosse),and the level of industry competition is very tight (overcompetition), excessiveand leads to cut-throat competition which is characterized by competition productpricing (transaction fee), industry players rely on their income outside the field ofbusiness, and the occurrence of cases of violation. Analysis of industryperformance also shows that trends tend to decline and was lower as compared toother financial industries (insurance). In this regard proposed to be issued theregulations related to the amount of minimum fees Transaction as a short-termsolution to create a climate of healthy competition and opportunities for AB tostrengthen themselves, and publishing products that are attractive to investors soas to increase the value of the transaction was led to increase in revenue from AB |
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