D. Agus Harjito, D. Agus
Jurusan Manajemen, Fakultas Ekonomi Universitas Islam Indonesia, Yogyakarta, Indonesia

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THE EFFECT OF CEO DUALITY, BOARD COMPOSITION AND BOARD SIZE ON ORGANIZATIONAL PERFORMANCE OF COMPANIES LISTED ON THE KUALA LUMPUR STOCK EXCHANGE Muhammad, Nordin; Harjito, D. Agus; Muhammad, Junaina
Sinergi: Kajian Bisnis dan Manajemen Vol 7, No 2 (2005)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/js.v7i2.878

Abstract

This study examined the effect of CEO duality, board composition and board size on organizational performance of Bourse Malaysia or Kuala Lumpur Stock Exchange (KLSE) listed companies. For comparison purpose, this study examined these variables for main board companies as the proxy of large size companies, second board as the proxy for small size companies, and the whole market as proxy for developing country. This study employed 196 companies selected from the main board (96) and the second board (100) of KLSE and applied a simple regression analysis to describe the data of this study and MANOVA analysis model to test the effect of CEO duality, board composition and board size on organizational performance. We run these tests separately for main board, second board companies and the total market.  The results indicated that the effects of multiple relationships between CEO du-ality and the three organizational performance variables (ROA, ROE, PER) before and after controlling by the age and industry are not significant for all three groups of board samples. While, the composition of outside directors was significant affects the firm performance for main board and combine board, but it is not significant for second board. Finally, board size is associated with higher firm performance. This evidence occurs only for main board. In gen-eral, the control variables, age and industry, do not affect significantly the relationships be-tween CEO duality, board composition, and board size and organizational performance.Key words: CEO duality, board composition, board size, firm performance.
THE EFFECT OF MERGER AND ACQUISITION ANNOUNCEMENTS ON STOCK PRICE BEHAVIOUR AND FINANCIAL PERFORMANCE CHANGES: A CASE OF BANKS IN MALAYSIA Harjito, D. Agus; Sulong, Zunaidah
Sinergi: Kajian Bisnis dan Manajemen Vol 8, No 1 (2006)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/js.v8i1.421

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This study attempts to examine the effect of mergers and acquisitions completion announcements on the stock price behavior for two anchor banks; Hong Leong Bank Berhad and Arab Malaysian Bank Berhad. The analysis uses the event study technique, the Naïve Model, a model that is based on Market Model with constrained  = 0 and  = 1 to compute the abnormal returns surrounding the mergers and acquisitions completion announcement date; also to evaluate the effect of mergers and acquisitions completion announcement on the banks? return. This study also analyses the financial performance changes to provide a naïve analytical framework by using financial ratios for these two anchor banks. Overall, the result from event study shows that the mergers and acquisitions completion announcements are more likely to be treated as positive information. However, the results from financial performance measures for all the ratios, that are calculated, indicate that there is no improvement in any of the performance measures after the mergers and acquisitions is completed.Keywords: merger, acquisition, stock prices, financial performance.
THE RELATIONSHIP BETWEEN IPO RETURNS AND FACTORS INFLUENCING IPO PERFORMANCE IN THE INDONESIA STOCK EXCHANGE HARJITO, D. AGUS; FERDYANA, HENRY
Jurnal Ekonomi dan Bisnis 2009: EKOBIS (Vol.10 No.1 2009)
Publisher : Department of Management, Faculty of Economics, Universitas Islam Sutan Agung, Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ekobis.10.1.191-291

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Studi ini bertujuan untuk menguji factor-faktor IPO performance dengan IPO return. Studiini mencoba menidentifikasi mekanisme yang cocok untuk menguji factor-faktor yangdapat mempengaruhi IPO return di Indonesia, seperti yang ditunjukkan oleh perusahaanperusahaandi Bursa Efek Indonesia. Faktor-faktor yang mempengaruhi IPO performanceditunjukkan oleh enam variable, yaitu ukuran perusahaan, umur perusahaan, total sahamyang dibagikan ke masyarakat, tipe investor, tingkat hutang perusahaan dan rasio antaraharga yang ditawarkan dengan pendapatan per lembar saham. Factor-faktor IPO returnditunjukkan oleh satu variable, yaitu return jangka pendek (initial return). Data dari studi inidiambil dari perusahaan-perusahaan yang terdaftar di Bursa Efek Indonesia pada tahun 1996-2006. Berdasarkan hasil penelitian dan pembahasan, didapatkan bahwa factor-faktor yangditeliti (ukuran perusahaan, umur perusahaan, total saham yang dibagikan di masyarakat,tipe investor, tingkat hutang dan rasio harga) tidak dapat mempengaruhi IPO return di pasarIndonesia. Ini kemungkinan terjadi karena para investor, khususnya investor luar, masihkhawatir tentang kondisi eksternal seperti kondisi ekonomi yang tidak stabil,kondisi politik,peraturan pemerintah dan kondisi keamanan di Indonesia, jadi, ini yang memungkinkanbahwa kondisi eksternal dapat mempengaruhi IPO return di IndonesiaKeywords : IPO return, IPO performance, initial return, internal condition, external
Perceived Threats and Safeguards of Auditor Independence Latif, Ahmed Razman Abdul; Ariffin, Bany; Chye, Koh Hian; Harjito, D. Agus
Riset Akuntansi dan Keuangan Indonesia Vol 5, No 2 (2006): Jurnal Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v5i2.3593

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Perceived Threats and Safeguards of Auditor Independence Latif, Ahmed Razman Abdul; Ariffin, Bany; Chye, Koh Hian; Harjito, D. Agus
Riset Akuntansi dan Keuangan Indonesia Vol 5, No 2 (2006): Jurnal Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v5i2.3591

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The Outsourcing Strategies for Organizational Effectiveness and Efficiency Harjito, D. Agus
Jurnal Aplikasi Bisnis Volume 6 Nomor 9, September 2006
Publisher : Jurnal Aplikasi Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jabis.vol6.iss9.art5

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Outsourcing is a management strategy by which an organization delegate major, non-core functions to specialized and efficient service providers. Outsourcing represents a significant shift in the way organizations manage and staff business support activities. This paper discusses the need for effective business process outsourcing, andstarts by identifying overview of outsourcing, core and non-core activities, advantagesand disadvantages of outsourcing. To get the organizational effectiveness and efficiency, this paper also discusses about managing and monitoring the effect of outsourcing and its implications for human resource development.
ANALISIS HUBUNGAN SIMULTAN ANTARA KEPEMILIKAN MANAJERIAL, RISIKO, KEBIJAKAN HUTANG DAN KEBIJAKAN DIVIDEN DALAM MASALAH AGENSI Nurfauziah, Nurfauziah; Harjito, D. Agus; Ringayati, Atik
Sinergi: Kajian Bisnis dan Manajemen Vol 9, No 2 (2007)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/js.v9i2.54

Abstract

In a company of go public is often happened the conflict between of stockholder with the manager, where manager act as the function of management and stockholder as function of is ownership. The conflict causes go together the importance difference between manager with the stockholder. Stockholder of course wish the manager work with an eye to maximize the stockholder prosperity. on the contrary, company manager might possibly act do not to maximize the stockholder prosperity but maximizing themselves prosperity. This research test the simultan relation between ownership of manajerial, risk, with the debt and dividen. Sample research as much 69 company, taken with the method of purposive sampling that is only company owning the ownership of incoming manajerial as sampel. To reach the wanted target, this research use the metode two stage least square. Result of research show the existence of consistent relation usher its variable that is negative relation among ownership of manajerial with the risk, debt. Positive relation between ownership of manajerial by dividen, negative relation among risk with the debt and dividen, and also negative relation among dividen with the debt.Keywords: simultant relation, ownership of manajerial, risk, policy of debt and policy of dividend of agency problem