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Contact Name
Eko Yulianto
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ey@pmbs.ac.id
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INDONESIA
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES
ISSN : 20896271     EISSN : 23384565     DOI : -
International Research Journal of Business Studies (IRJBS), with registered number ISSN 2089-6271 (Print) and ISSN 2338-4565 (Online), is an open access and peer-reviewed scientific journal published by Prasetiya Mulya Publishing, Universitas Prasetiya Mulya. IRJBS published three times a year (December-March, April-July, and August-November).
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Articles 5 Documents
Search results for , issue " Vol 6, No 1 (2013): April-July 2013" : 5 Documents clear
Female Consumers Recreational Shopping Experiences Hari Govind Mishra, Sarbjot Singh, Piyush Kumar Sinha,
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 6, No 1 (2013): April-July 2013
Publisher : Universitas Prasetiya Mulya

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Abstract

Ownership and Determinants Capital Structure of Public Listed Companies in Indonesia: A Panel Data Analysis Roy Sembel, Nur Ahmad Maulana, Arief Tri Hardiyanto, Noer Azam Achsani,
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 6, No 1 (2013): April-July 2013
Publisher : Universitas Prasetiya Mulya

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Abstract

Estimating Foreign Exchange Reserve Adequacy Hakim, Abdul
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 6, No 1 (2013): April-July 2013
Publisher : Universitas Prasetiya Mulya

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Abstract

The Influence Of Agricultural Commodity On F&B Company’s Performance In Indonesia Puguh Setiawan, Rofikoh Rokhim,
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 6, No 1 (2013): April-July 2013
Publisher : Universitas Prasetiya Mulya

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Abstract

This research examines the influence of agricultural commodity price movements on stock price and gross profit of food and beverage companies in Indonesia, as well as the effect of volatility prices of agricultural commodities. Using time series data of food and beverages (F&B) companies that are listed at the Indonesia Stock Exchange (IDX),this research calculating the event studies to find the abnormal returns.The results showed that the movement of agricultural commodity prices has a positive effect on stock prices of F&B companies, with the dominant influence of commodity prices of corn and sugar. Agricultural commodity prices also affect positively on gross profit F&B companies, with the dominant influence of commodity prices of corn and palm oil.The increase in prices of agricultural commodities simultaneously affect the value of a positive cumulative abnormal return for stocks of F&B companies. The results also showed that the decline of agricultural commodities simultaneously affect the value of negative cumulative abnormal return for stocks of F&B companies.DOI : https://doi.org/10.21632/irjbs.6.1.13-28Keywords: Abnormal Return, Agricultural Commodity, F&B Companies, Gross Profit, Stock Price
Control Mechanism And Value Of Firm: Empirical Evidence From Indonesia Capital Market Hermeindito Hermeindito, Christian Herdinata, Eduardus Tandelilin,
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 6, No 1 (2013): April-July 2013
Publisher : Universitas Prasetiya Mulya

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Abstract

This research discusses about the roles of institutional ownership and leverage as control mechanism over agency conflict and how it affects corporate performance. Agency conflict is a result of expropriation via tunneling on asset utilization. This study uses panel data with a sample of 136 companies in Indonesia between 2001-2012.Simultaneous model testing using Three Stage Least Square estimation technique is also used in this study. Results suggest that institutional ownership and leverage have a non-linear effect on asset utilization. Institutional owner-ship can be used as a control mechanism at higher levels of owner ship.However, when the ownership surpasses certain level, institutional owners will be able to conduct expropriation through tunneling. Low-level leverage will result in expropriation through tunneling by institutional owners. On the other hand, higher level of leverage makes it possible to use leverage as control mechanism.This study also sug-gests that there is a substitutional correlation between the implementation of control mechanism and leverage. This research also proves that the effect of control mechanism on asset utilization will improve corporate performance. This research does not specifically investigate the proportions of institutional ownership and leverage as borderline threshold which shows that the two variables can be used as control mechanism.It also implies that the control mechanism over agency conflict which happens as a result of expropriation through tunneling can be done using institutional ownership and leverage. Institutional ownership and leverage must, in this case, be conducted properly to-wards asset utilization so that it can improve corporate performance.This research provides evidence and solutions for agency conflicts that happen as a result of expropriation through tunneling. This study also contributes to the agency theory testing model by using simultaneous equation and considering non-linear testing method.DOI : https://doi.org/10.21632/irjbs.6.1.45-62Keywords: Institutional Ownership, Leverage, Asset Utilization, Corporate Performance, Tunneling

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