(Telah Dipublikasikan pada Jurnal Fokus Ekonomi Vol. 10 No. 1 – April 2011)

Luciana Spica Almilia, Nurul Hasanah Uswati Dewi dan Vidiana Hastutik Is Hartono

 STIE PERBANAS SURABAYA

Abstrak

Tujuan dari penelitian ini adalah menguji faktor-faktor penentu pengungkapan tanggungjawab sosial perusahaan dan pengaruhnya terhadap kinerja keuangan dan ukuran perusahaan. Penelitian ini menggunakan data sekunder laporan tahunan perusahaan go publik yang tercatat di Bursa Efek Indonesia dan data dari Sustainability Reporting Award (ISRA) tahun 2007 – 2008. Sampel penelitian ini terdiri dari 47 perusahaan yang menerima Indonesia Sustainability Reporting Award (ISRA) dan perusahaan lain yang tidak menerima Indonesian Sustainability Reporting Award (ISRA) tetapi masih dalam industri yang sama.

Pengujian hipotesis pertama dalam penelitian ini menggunakan regresi logistik dan menunjukkan bahwa ROA mempengaruhi pengungkapan laporan tanggungjawab sosial perusahaan, sementara ROE tidak mempengaruhi pengungkapan laporan tanggungjawab sosial perusahaan. Hipotesis kedua dan ketiga dalam penelitian ini menggunakan uji beda, dan menunjukkan bahwa ukuran perusahaan penerima ISRA lebih tinggi dibandingkan perusahaan yang tidak menerima ISRA. Penelitian ini juga menunjukkan bahwa tidak ada perbedaan kinerja keuangan yang diukur dengan ROE dan ROA pada perusahaan penerima ISRA dan perusahaan yang tidak menerima ISRA.

Abstract

The aim of this is to examine some determinants the disclosure of social responsibility (CSR) companies and their impact on financial performance and company size. This study uses secondary data from the 2006-2009 annual reports of public companies listed in Bursa Efek Indonesia (BEI) and data from the Indonesian Sustainability Reporting Award (ISRA) in the period 2007-2008. The sample in this study of 47 companies consisting of receivers and that did not receive Indonesian Sustainability Reporting Award (ISRA) in the same industry.  In the first hypothesis using logistic regression, shows that firm size and ROA have an influence on the disclosure of corporate social responsibility (CSR), while the ROE has no effect on CSR. In the second and third hypotheses using different test, shows that firm size that receives Indonesian Sustainability Reporting Award (ISRA) higher than those not receiving Indonesian Sustainability Reporting Award (ISRA).  As for financial performance as measured by ROA and ROE no difference between the recipient and who do not receive the Indonesian Sustainability Reporting Award (ISRA).

Keywords: Disclosure, Corporate social responsibility disclosure, Company size, Profitability, Indonesian Sustainability Reporting Award 

Artikel dapat di download disini -> Artikel Faktor Penentu ISRA

Luciana Spica Almilia

STIE Perbanas Surabaya

Diterbitkan di Jurnal Akuntansi dan Auditing Indonesia Vol. 12 No. 2 Desember 2008

ABSTRACT

Internet Financial and Sustainability Reporting (IFSR) is voluntary in nature. With no specific regulations on IFSR, there is a disparity of IFSR practices among companies. Some companies disclose only partial financial statement using a low level of technology, while others disclose full sets of financial reports using sophistications of the web such as multimedia and analytical tools. SustainAbility (1999) addressed the benefits (global reach, immediacy, ease of updating, transparency, link ability, and interactivity) of reporting social and environmental information on the website and thus the factors that affect decision of whether or not to use this communication medium. By placing information on the firm’s website, users can search, filter, retrieve, download, and even reconfigure such information at low cost in a timely fashion.

The purpose of this study was to examine financial variables that affect Internet Financial and Sustainability Reporting (IFSR) in Indonesia Stock Exchange companies. The samples of this research include 104 listed firms in Indonesia Stock Exchange. The multiple regressions used to examine variables that affect Internet Financial and Sustainability Reporting (IFSR). The sample of this research is companies that listed in Indonesia Stock Exchange companies. The findings of this research that firm size, return on asset, and majority holder as a determinant factor IFSR index in Indonesia.

Keywords: internet, internet sustainability reporting, internet financial reporting, company website

Artikel Lengkap Dapat diunduh disini -> Artikel Faktor Penentu Pengungkapan Sukarela

Diterbitkan di JURNAL AKUNTANSI DAN KEUANGAN (TERAKREDITASI SK NO. 43/DIKTI/KEP/2008 tanggal 8 Juli 2008) Vol. 11 No. 1 Mei 2009

Oleh:

Luciana Spica Almilia, Nanang Shonhadji, Angraini

STIE Perbanas Surabaya

Abstract:

This study is aimed to test the consistency of time period model, whether the information that previously affects today’s performance can be used to predict the performance in the future, and how the consistency of Indonesia banking financial prediction model formulation equation in order to detect bank condition and performance in the period of pre-economic crisis (1995-1996), during economic crisis (1997-1999) or post-economic crisis (2000-2005) is since bank condition and health is the interest of all relevant parties namely bank owner and manager, customers, Bank Indonesia in its capacity as the supervisor and builder, and the government.

The samples are Non Foreign Exchange National Private Banks listed in Indonesian Banking Directory during the period after economic crisis in 1995 – 2005 and Indonesian Financial Economic Statistics Monthly Statement for economic macro indicator. The sampling is performed by means of purposive method (purposive sampling). Dependent Variable in this study is Financial Sustainability Ratio and independent variable in this study is Capital Adequacy Ratio, Non Performing Loan, Return On Assets, Operational Cost Ratio to Operational Income, Loan to Deposit Ratio, Money Supply Sensitivity,  General Customer Price Index Sensitivity and SBI Interest Rate Sensitivity. The result of this study shows that model financial sustainability ratio did not have structural stabilization in 1999 – 2005.

Keywords: financial prediction, financial sustainability ratio, macroeconomic variable, financial performance

Artikel Lengkap dapat di unduh disini -> Kinerja Bank Non Devisa

Oleh:

Luciana Spica Almilia, Nanang Shonhadji, Angraeni

(BULETIN EKONOMI Vol. 6 No. 2 Agustus 2008)

Abstract:

This study is aimed to test the consistency of time period model, whether the information that previously affects today’s performance can be used to predict the performance in the future, and how the consistency of Indonesia banking financial prediction model formulation equation in order to detect bank condition and performance in the period of pre-economic crisis (1995-1996), during economic crisis (1997-1999) or post-economic crisis (2000-2005) is since bank condition and health is the interest of all relevant parties namely bank owner and manager, customers, Bank Indonesia in its capacity as the supervisor and builder, and the government.

The samples are Local Government Banks listed in Indonesian Banking Directory during the period after economic crisis in 1995 – 2005 and have total assets of less than or as much as 10 quintillion (≤10 quintillion), and Indonesian Financial Economic Statistics Monthly Statement for economic macro indicator. The sampling is performed by means of purposive method (purposive sampling). Dependent Variable in this study is Financial Sustainability Ratio and independent variable in this study is Capital Adequacy Ratio, Non Performing Loan, Return On Assets, Operational Cost Ratio to Operational Income, Loan to Deposit Ratio, Money Supply Sensitivity,  General Customer Price Index Sensitivity and SBI Interest Rate Sensitivity. The result of this study shows that model financial sustainability ratio did not have structural stabilization in 1999 – 2005.

Keywords: financial prediction, financial sustainability ratio, macroeconomic variable, financial performance

Artikel Lengkap dapat di download disini ->Pengujian Model Prediksi BPD – Bulet

Penelitian ini telah dipublikasikan pada Jurnal Ekonomi dan Bisnis Vol. XII No. 1, Maret 2006 

Abstract:This research aims at providing empirical evidance on factors that affect  financialy distressed  firms. This study examines the role of financial ratio in predicting the accurance of financial distress in the context of Jakarta Stock Exchange.The samples consist of 43 firms with positive net income, positive equity book value and still listed until 2001; 14 firms with negative income from 2000 to 2001 and still listed; and 24 firms with negative income and negative equity book value from 2000 to 2001 and still listed. Multinomial logit regression is used to test the hypothesis. It is hypothised that financial ratio from  statements of income, balance sheet and statements of cash flow can use to predict  financial distress firms. This study use three models to examine examines the role of financial ratio in predicting the accurance of financial distress in the context of Jakarta Stock Exchange The finding of this research that financial ratio from  statements of income, balance sheet and statements of cash flow (CATA, TLTA, NFATA, CFFOCL, CFFOTS and CFFOTL) are significant variables determining  financialy distressed  firms. 

Keywords: financial distress, financial ratio, statements of income, balance sheet, statements of cash flow, multinomial logit. 

Artikel Lengkap dapat didownload disini -> artikel-financial-distress-arus-kas-multinomial.pdf

Penelitian ini telah dipublikasikan pada Jurnal Akuntansi dan Auditing Indonesia (JAAI) Vol. 7 No. 2, Desember 2003 

Abstrak:Financial distress precedes bankruptcy. Most financial distress models actually rely on bankruptcy data, which is easier to obtain. The purpose of this research is to examine financial ratios that affect financial distress condition of a firm. The sample of this research consist of 24 distress firms and 37 non-distress firms, it is chosen by purposive sampling. The statistic method which is used to test on the research hypothesis is logistic regression. The result show that profit margin ratio (net income/net sales), financial leverage ratio (current liabilities/total assets), liquidity ratio (current assets/current liabilities) and growth (net income/total assets growth) is a significant variable to determine of financial distress firms. 

Keywords: financial distress, financial ratios, bankruptcy. 

Artikel Lengkap dapat didownload disini -> model-financial-distress.pdf  

Penelitian ini dipublikasikan pada Jurnal Ekonomi dan Bisnis Indonesia (JEBI) Vol. 18 No. 4, Oktober 2003 

Abstract: 

This research has a purpose to provide empirical evident about factors that affect firms status after IPO.  The examined factors on this research are firm characteristics including financial ratio, industry structure, firm’s sensitivity to macroeconomic variables, underwriter reputation and ownership structure. The samples consist of 84 firms which had positive net income, positive equity book value and still listed until 2002; 24 firms which had negative net income from 2000 through 2001 and still listed; 48 firms which had negative net income and negative equity book value from 2000 through 2001 and still listed; and 19 firms which delisted from 1999 through 2002. Moreover, it is chosen by purposive sampling. The statistic method used to test on the research hypothesis is multinomial logit regression. Indirect method and direct method technique is used to gain a model that has the highest classification power in determination firms status after IPO. The result show that direct method had a higher classification power rather than indirect method. This research also indicate that firm characteristic include financial ratio, industry structure, firm’s sensitivity to macroeconomic variables, and underwriter reputation is a significant variables in determination firms status after IPO 

Keywords: financial distress, financial ratios, multinomial logit, macroeconomic variable 

Artikel Lengkap dapat didownload disini -> artikel-pasca-ipo.pdf

Penelitian ini telah dipublikasikan pada Jurnal Ekonomi dan Bisnis ANTISIPASI, Vol. 10 No. 1, Oktober 2006. 

AbstractThis research has a purpose to provide empirical evident about factors that affect interesr rate of deposit. The examined factors on this research are financial ratio and macroeconomic variables. The factors that are examined on this research are CAR (Capital Adequacy Ratio), ROA (Return On Assets), LDR (Loan to Deposit), inflation, liquidity of economic and growth of economic.The samples consist of 139 bank. The statistic method used to test on the research hypothesis is multiple regression. The result show that Return On Assets (ROA), Loan to Deposit (LDR) and inflation is a significant variables in determinant interst rate of deposit. 

Penelitian ini telah dipublikasikan pada Jurnal Bisnis dan Ekonomi, Vol. 13, No. 1, Maret 2006

Abstract:

The objective of this research is to empirically examine about the information content and intra industry effect of stock split announcement. The analysis include three aspect: information content, risk (beta) and intra industry effect of stock split announcement by small size firm and large size firms.

The sample of this research is 79 reporter firm (consist of 40 small size firms and 39 large size firms) and 166 non reporter firms during the period of 1997 – 2002. The result of this research show that stock split has information content which is negatively responded and statistically significant responded by the market around the date of stock split announcement . The difference between beta before and after stock split announcement is not significant. The difference between beta small size firms and large size firms after stock split announcement is not significant. The intra industry effect of stock split announcement by large size firms is contagion effect and after stock split announcement is competitive effect. The intra industry effect of stock split announcement by small size firms is competitive effect.

Keywords: stock split, intra industry effect, contagion effect, competitive effect, information content.

Abstrak:

Tujuan dari penelitian ini adalah menguji secara empiris tentang kandungan informasi dan efek intra industri dari pengumuman stock split. Analisis dalam penelitian ini mencakup 3 aspek yaitu: kandungan informasi, risiko (beta) dan efek intra industri dari pengumuman stock split yang dilakukan oleh perusahaan size besar dan size kecil.

Sampel dalam penelitian ini meliputi 79 perusahaan reporter (yang terdiri dari 40 perusahaan size kecil dan 39 perusahaan size besar) dan 166 perusahaan non reporter selama periode 1997 – 2002. Hasil dari penelitian ini menunjukkan bahwa pengumuman stock split memiliki kandungan informasi berupa reaksi negatif dan secara statistik signifikan disekitar tanggal pengumuman stock split. Temuan lain dalam penelitian ini adalah tidak ada perbedaan beta sebelum dan setelah pengumuman stock split serta tidak ada perbedaan beta antara perusahaan size besar dan size kecil setelah pengumuman stock split. Efek intra industri pengumuman stock split yang dilakukan oleh perusahaan size besar adalah efek kontagion dan setelah pengumuman stock split adalah efek kompetitif. Sedangkan efek intra industri pengumuman stock split yang dilakukan oleh perusahaan size kecil adalah efek kompetitif.

Kata Kunci: stock split, efek intra industri, efek kontagion, efek kompetitif, kandungan informasi.

Artikel Lengkap dapat didownload disini -> dampak-size-perusahaan-stock-split.pdf