Irene Rini Demi Pangestuti, Irene Rini Demi
Jurusan ManajemenFakultas Ekonomika dan Bisnis Universitas Diponegoro

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PENGARUH STRUKTUR PASAR, KOMPETISI, DIVERSIFIKASI, DAN RISIKO KREDIT TERHADAP PROFITABILITAS BANK DENGAN BANK SIZE SEBAGAI VARIABEL KONTROL (STUDI PADA BANK YANG TERDAFTAR DI BURSA EFEK INDONESIA) Putra, Aditya Mahendra; Pangestuti, Irene Rini Demi
Diponegoro Journal of Management Volume 8, Nomor 1, Tahun 2019
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

The aims of this research was to examine the effect of market structure (market share,) competition (lerner index), diversification (herfindahl-hirschman index), and credit risk (non performing loans) on Return on Asset (ROA) as a measure of profitability. Firm size is added as control variable on this research. This research used secondary data with population consist of 44 banking listed in Indonesia Stock Exchange in the period of 2012-2016. The purposive sampling method was used in selecting the research sample and 26 banking are chosen to being sample on this research. This research used multiple regression technique for measure the statistic analysis. The result of this research shows that market structure, competition and diversification has a positive significant effect on profitability, but credit risk has a negatif significant effect on profitability.
ANALISISPERBEDAAN FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP PROFITABILITAS BANK KONVENSIONAL DAN BANK SYARIAH DI INDONESIA PERIODE TAHUN 2011 - 2018 Priono, Andri; Pangestuti, Irene Rini Demi
Diponegoro Journal of Management Volume 8, Nomor 3, Tahun 2019
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

This study aims to analyze how profitability differs between conventional banks and Islamic banks in Indonesia by analyzing the effect of Equity to Total Assets (ETA), Loan Loss Provision (LLP), Loan to Total Assets (LTA), Operation Costs (OC), Size , Non Interest Income (NII), and Market Power (MP) to ROA.Currently, Islamic banks are developing rapidly in Indonesia. Many conventional banks began to open sharia activities, so that the majority of Indonesian people who are Muslim can use the services of banks without having to fear usury (riba). The sample in this study is conventional commercial banks that open business activities according to sharia principles, and all Islamic commercial banks which are subsidiaries of conventional commercial banks or the results of conversion from conventional commercial banks, with the period from 2011 to 2018 and their financial statements can be accessed through Otoritas Jasa Keuangan (OJK) website, Bloomberg, and official website of the these banks. The method used in this study uses multiple regression analysis with a hypothesis testing tool that is the t test and the F test. However, before conducting multiple regression analysis, the classical assumption test is first performed. To analyze the differences, the Chow-Test and Independent-T Test Sample are used.Through partial hypothesis test results (t test) on conventional commercial banks, it shows that LLP, LTA, SIZE, NII, and MP variables have a significant effect on ROA. Whereas Islamic banks show that the variables ETA, LLP, OC, NII, and MP significantly influence ROA. Adjusted R² in regression models with conventional banks amounted to 80.1%; whereas in Islamic banks is 76.6%. Based on the Chow-Test it can be concluded that there are significant differences from the influence of independent variables on ROA of conventional commercial banks and Islamic commercial banks so that the profitability between the two types of banks is different.
The Volatility–Variability Hypotheses Testing and Hedging Effectiveness of Precious Metals for the Indonesian and Malaysian Capital Markets Robiyanto, Robiyanto; Wahyudi, Sugeng; Pangestuti, Irene Rini Demi
Gadjah Mada International Journal of Business Vol 19, No 2 (2017): May-August
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (882.816 KB) | DOI: 10.22146/gamaijb.26260

Abstract

This study evaluates the use of futures contracts for precious metals to hedge against stock market risks and their hedging effectiveness on the Indonesian Stock Exchange (IDX) and the Kuala Lumpur Stock Exchange (KLSE). This study found that gold was the most effective hedging instrument, since it produced the highest hedging effectiveness both on the IDX and the KLSE among the other precious metals. None of the hedged portfolios had a higher Sharpe’s ratio than the unhedged one on the IDX; however, all the hedged portfolios on the KLSE had a higher Sharpe’s ratio than the unhedged ones. Almost all the hedged portfolios could produce a higher Treynor’s ratio than the unhedged portfolios, both on the IDX and the KLSE. In general, this study concluded that studying some precious metals could reduce the investment risk, which was shown through the variance produced by the smaller portfolios, while gold can improve the risk-adjusted performance.
THE EFFECT OF ASSET STRUCTURE, PROFITABILITY, COMPANY SIZE, AND COMPANY GROWTH ON CAPITAL STRUCTURE (The Study of Manufacturing Companies Listed on the IDX for the Period 2013 - 2017) Ariyani, Hilma Faza; Pangestuti, Irene Rini Demi; Raharjo, Susilo Toto
JURNAL BISNIS STRATEGI Vol 27, No 2 (2018): Desember
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1009.014 KB) | DOI: 10.14710/jbs.27.2.123-136

Abstract

The purpose of this study was to determine and examine the effect of asset structure, profitability, firm size and company growth on the capital structure of manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2013 – 2017. The sampling method used was purposive sampling that was 52 companies in the criteria. Data obtained from the Financial Reports and Performance Reports published in the Indonesian Capital Market Directory (ICMD). The analytical tool that used is multiple regression. Hypothesis testing is done by the F test, t-test and determination coefficient. For the classical assumption, the test is done by the normality test, autocorrelation test, multicollinearity test, and heteroscedasticity test. The analysis of asset structure has a positive effect on the capital structure and not significant to the capital structure, profitability has a negative and significant effect on the capital structure, the size of the company has a positive and significant effect on the capital structure, and the company’s growth has a negative and significant effect on the capital structure. 
ANALYSIS OF THE EFFECT OF NPL, NIM, NON INTEREST INCOME, AND LDR TOWARD ROA WITH SIZE AS CONTROL VARIABLES (Differences Study on Domestic and Foreign Banks Listed on BEI Period 2010-2015) Yudha, Aji; Chabachib, Mochammad; Pangestuti, Irene Rini Demi
JURNAL BISNIS STRATEGI Vol 26, No 2 (2017): Desember
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (237.064 KB) | DOI: 10.14710/jbs.26.2.100-113

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This study aims to examine the factors that determine the difference ROA on domestic and foreign banks in Indonesia. The population in this research is data bank domestic and foreign listed on BEI in 2015. The sample used in this research totaled 228 banks. The result of the study showed that, in domestic banks, Non-Performing Loan (NPL) influential negative and significantly to Return On Assets (ROA). Net Interest Margin (NIM) have had a positive impact significantly to Return On Assets (ROA). While Non-Interest Income and Loan to Deposit Ratio (LDR) influential negative but not significantly to Return On Assets (ROA).Category foreign banks Non-Performing Loan (NPL) influential negative and significantly to Return On Assets (ROA). Net Interest Margin (NIM) influential negative and significantly to Return On Assets (ROA). Non-Interest Income influential negative and insignificant to Return On Assets (ROA). Loan to Deposit Ratio (LDR) influential negative and significantly to Return On Assets (ROA). Size proved as a control variable. In this research used chow test to knows the difference between domestic and foreign banks. The result shows that there is no difference between domestic and foreign banks.
Analisis Pengaruh Investment Opportunity Set, Kebijakan Hutang, Profitabilitas dan Kepemilikan Manajerial Terhadap Kebijakan Dividen dan Nilai Perusahaan (Studi Pada Perusahaan yang Terdaftar Dalam Indeks Papan Utama BEI Tahun 2009 – 2016) Nugrahandini, Yuliastanti; Pangestuti, Irene Rini Demi; Soegiono, Soegiono
JURNAL BISNIS STRATEGI Vol 28, No 1 (2019): Juli
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1186.049 KB) | DOI: 10.14710/jbs.28.1.29-44

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To obtain maximum returns, prospective investors must have knowledge of the fundamental aspects to be able to place their investments appropriately in the issuer's companies in the capital market. This study aims to examine whether the investment opportunity set, debt policy, profitability and managerial ownership influence the firm value by using dividend policy as an intervening variable. The sample used in this study consisted of 20 companies listed on the Main Board of IDX in the period from 2009-2016. The analysis technique used is Partial Least Square Structural Equation Modeling (PLS-SEM). The results of the study show that IOS has a negative effect on DPR and ROA has a positive effect on the DPR. While other variables did not significantly influence the DPR. The influence of IOS, ROA, and manajerial ownership significantly positive on Tobin's Q while DAR, Size and DPR had a significantly negative effect on Tobin's Q. Based on the VAF test, the DPR mediated IOS by 17.17% and mediated ROA by -4.46% or less than 20 % so that it can be concluded that there is almost no mediating role of the DPR on the relationship of IOS and ROA to the firm value.
ANALISIS NILAI EFISIENSI BANK DOMESTIK DAN BANK ASING DENGAN METODE PARAMETRIK STOCHASTIC FRONTIER ANALYSIS (Studi kasus pada Bank Domestik dan Bank Asing di Indonesia periode tahun 2013-2017) Swaskarina, Neisya Hafizha; Pangestuti, Irene Rini Demi
Diponegoro Journal of Management Volume 8, Nomor 4, Tahun 2019
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

This research was conducted to analyze the value of banking efficiency in both domestic and foreign banks in Indonesia over a period of five years, 2013-2017. Efficiency is a parameter that can be used as a basis for measuring the performance of a bank. Combining banking efficiency can use traditional methods and border methods.This study uses counting parameters to calculate banking efficiency with the stochastic frontier analysis (SFA) method. The SFA method, presented in the form of a percentage, is increasingly valued at 100% choosing banks that make them more efficient and healthy. By knowing the results of bank efficiency values, it is hoped that banks can improve their supervisory strategies and make certain policy decisions. The sampling technique used was purposive sampling, obtained as many as 15 sample companies, namely 11 groups of domestic banks and 4 foreign banks. Research conducted during the five years of research, namely 2013-2017.The results of calculations with the Stochastic Border Analysis model, the efficiency figures that appear almost entirely completed 100%. This shows a high level of efficiency carried out by Domestic Banks and Foreign Banks. The highest efficiency at the Domestic Bank was generated by PT Bank Mandiri Persero Tbk in 2017 with an efficiency value of 94.64%, and Foreign Banks generated by Standard Chartered PLC in 2017 with an efficiency value of 93.87%
ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI STOCK UNDERPERFORMANCE IPOPADA PERUSAHAAN YANG LISTING DI BURSA EFEK INDONESIA TAHUN 1998-2012 Robinson, Robinson; Pangestuti, Irene Rini Demi
Diponegoro Journal of Management Volume 4, Nomor 2, Tahun 2015
Publisher : Faculty of Economics and Business Diponegoro University

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Abstract

This study aims to examine the factors that affect stock underperformance of IPOshares  listed  on  the  Indonesia  Stock  Exchange.  This  study  uses  eight  independent variables, namely hot market (TIME), firm age (Age), underwriter reputation (UR), underpericing (UP), IPO volume (VOL), industry dummy (INDUM), capitalization of IPO (SIZE), with the dependent variable is the underperformance.The sampling technique used was purposive sampling criteria (1) The Company listed its shares on the Indonesia Stock Exchange, (2) Shares IPO companies experienced underperformance in the first period of one year, (3) the company has sufficient data to do research. The data sample obtained was 107 companies. The analytical method used is a multivariate regression. The assumption of classical test and hypothesis test using t- statistic, testing the coefficient of determination (R2), and the F-statistic to test the effect of model variables together with a significance level of 5%. This study also includes the classic assumption normality test, autocorrelation test, heteroscedasticity test, and multicollinearity test.Based on the data normality test results, the study shows that the data are normally distributed. Based on the test results with the classical assumption of multicollinearity test, autocorrelation and heteroscedasticity test did not find any data that deviate from the classical assumption. It shows that the data used in this study are qualified to use a multivariate regression model. From the analysis in this study showsage of the company during  the IPO (Age) variable significant  negative effect  on  stock underperformance. Underprice variable positive and significant effect on stock underperformance.Variable IPO volume (VOL), has a negative and significant impact on the stock underperformance. Variable hot market (TIME), industry dummy (INDUM), and capitalization IPO (SIZE) has a negative correlation coefficient and no significant effect on stock underperformance. Variable underwriter reputation (UR) has a positive correlation coefficient and no significant effect on stock underperformance.
Efek Kepemilikan Institusional, Profitabilitas, Ukuran Perusahaan dan Pertumbuhan Penjualan Terhadap Nilai Perusahaan dengan Struktur Modal Sebagai Variabel Intervening (Studi Pada Perusahaan Manufaktur Di BEI Tahun 2013-2017) Simanjuntak, Tagora Bangkit Pahala; Pangestuti, Irene Rini Demi
JURNAL BISNIS STRATEGI Vol 28, No 2 (2019): Desember
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (908.881 KB) | DOI: 10.14710/jbs.28.2.123-142

Abstract

Tujuan penelitian ini adalah untuk menguji pengaruh kepemilikan insitutisional, profitabilitas, ukuran perusahaan dan pertumbuhan penjualan terhadap nilai perusahaan dengan struktur modal sebagai variabel intervening (studi di Perusahaan Manufaktur Listing di Bursa Efek Indonesia sejak 2013 sampai periode 2017). Sampel dalam penelitian ini adalah perusahaan manufaktur sesuai dengan kriteria yang ditetapkan. Analisis regresi linear berganda dilakukan dengan didasarkan pada hasil analisis data. Penelitian ini menyimpulkan beberapa hal sebagai berikut: Variabel kepemilikan institusional, profitabilitas dan ukuran perusahaan berpengaruh negatif signifikan terhadap struktur modal. Pertumbuhan penjualan tidak berpengaruh terhadap struktur modal. Kepemilikan institusional tidak berpengaruh terhadap nilai perusahaan. Profitabilitas, ukuran perusahaan dan pertumbuhan penjualan berpengaruh positif signifikan terhadap nilai perusahaan. Struktur modal berpengaruh negatif signifikan terhadap nilai perusahaan. Struktur modal dapat memediasi pengaruh kepemilikan institusional, profitabilitas dan ukuran perusahaan terhadap nilai perusahaan. Struktur modal tidak dapat memediasi pengaruh pertumbuhan penjualan terhadap nilai perusahaan.