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"Penelitian ini bertujuan melakukan analisis pengaruh likuiditas terhadap alokasi portofolio asing di negara BRICS dan MIST periode 2002-2012. Likuiditas diukur menggunakan Price Impact, Trading Volume, Turnover Ratio, dan Corwin Schultz Spread. Penelitian menggunakan data panel serta metode regresi Fixed dan Random Effect Model. Selain itu, penelitian juga bertujuan untuk menganalisis hubungan variabel bilateral dan makroekonomi terhadap alokasi portofolio asing di negara BRICS dan MIST periode 2002-2012. Penelitian menemukan bahwa likuiditas memiliki pengaruh positif terhadap alokasi portofolio asing di negara BRICS dan MIST periode 2002-2012.

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The aim of this research is to analyze the impact of liquidity on Foreign Portofolio Allocation in BRICS and MIST Countries during 2002-2012. Liquidity are measured using Price Impact, Trading Volume, Turnover Ratio, and Corwin Schultz Spread. This research uses panel data with Fixed and Random Effect Model as a regression method. Furthermore, this research also analyze the effect of bilateral and macroeconomic condition on Foreign Portfolio Allocation. This research found that market liquidity positively affects Foreign Portfolio Invesments in BRICS and MIST Countries during 2002-2012."

"Penelitian ini membahas tentang faktor-faktor yang mempengaruhi bobot alokasi portofolio ekuitas asing yang diperoleh di negara anggota APEC dari periode 2001 hingga 2010. Faktor-faktor tersebut dianalisis dengan menggunakan proksi berupa variabel stock market size, turnover ratio, local equity market volatility, dan exchange rate volatility. Penelitian ini dilakukan dengan menggunakan data panel dan metode regresi Pooled Least Square. Hasil penelitian menunjukkan bahwa terdapat hubungan yang signfikan antara variabel stock market size, dan turnover ratio terhadap bobot alokasi portofolio ekuitas asing yang diperoleh negara anggota APEC periode 2001-2010.

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The aim of this research is to analyze the determinants of foreign equity portfolio allocation in APEC during year 2001 until 2010. The determinants are explained using variables such as stock market size, turnover ratio, local equity market volatility, and exchange rate volatility. This research uses panel data and Pooled Least Square regression as a method. The finding of this research is the existence of significant relationship between stock market size, turnover ratio and foreign equity portfolio allocation in APEC in period of 2001-2010."

"Penelitian ini bertujuan untuk melihat pengaruh dari merger dan akuisisi terhadap kinerja perusahaan listed non-finansial di Indonesia dari segi profitabilitas, leverage, dan likuiditas. Penelitian ini menggunakan teknik purposive sampling dan menggunakan 34 data transaksi merger dan akuisisi yang terjadi di tahun 2012 ndash; 2014. Penelitian ini membanding kinerja perusahaan 3 tahun sebelum merger ataupun akuisisi dilakukan dan 3 tahun setelah merger dan akuisisi dilakukan. Penelitian ini menggunakan metode Ordinary Least Square OLS dengan data tahunan selama 8 tahun yaitu pada periode 2009 - 2016. Hasil dari penelitian ini menunjukkan bahwa merger dan akuisisi memberikan pengaruh negatif terhadap tingkat profitabilitas perusahaan, positif terhadap tingkat leverage perusahaan, dan positif terhadap tingkat likuiditas perusahaan.

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This study aims to examine the impact of merger and acquisition of non financially listed companies in regards of profitability, liquidity, and leverage in Indonesia. This study uses purposive sampling technique and 34 merger and acquisition data transaction from year 2012 to 2014. This paper compares corporate performance 3 years before the company is merged or acquired and 3 years after the company is merged or acquired. This study uses Ordinary Least Square OLS method using an 8 year period of annually collected data from 2009 to 2016. The results of this study show that merger and acquisition give negative effect on corporate profitability, positive effect on corporate leverage, and positive effect on corporate liquidity."

"Penelitian ini bertujuan untuk mengetahui apakah terdapat pengaruh kepemilikan asing terhadap perilaku pengambilan risiko perusahaan non keuangan di bursa efek indonesia periode 2008-2013. Dengan menggunakan dua variable kontrol yaitu leverage dan ukuran perusahaan.Dalam penelitian ini ditemukan bahwa Kepemilikan asing dan leverage berpengaruh secara negatif dan signifikan terhadap perilaku pengambilan risiko perusahaan, sedangkan ukuran perusahaan berpengaruh secara positif dan signifikan terhadap perilaku pengambilan risiko perusahaan.

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This study aims to determine The Impact of Foreign Ownership on Corporate Risk Taking Behavior of non financial companies in Indonesia Stock Exchange period 2008 2013. By using two control variables leverage and company size.

In this study found that foreign ownership and leverage have a negative and significant effect on corporate risk taking behavior, while firm size positively and significantly influence to corporate risk taking behavior."

"Penelitian ini bertujuan untuk menginvestigasi tren sekuler cash holding pada 852 perusahaan manufaktur antarnegara ASEAN 5 (Filipina, Indonesia, Malaysia, Singapura, dan Thailand) pada periode 2007-2011 serta menganalisis pengaruh faktor-faktor perubahan karakteristik perusahaan diantaranya cash flow yang semakin volatil, penurunan net working capital, penurunan capital expenditure, penurunan leverage, dan tingkat lagged cash holding dengan dikontrol variabel ukuran perusahaan, market to book ratio, cash flow, dan dividen. Hasil penelitian menunjukkan bahwa perubahan karakteristik perusahaan berkontribusi besar dalam menjelaskan tren cash holding yang sekuler. Hasil berbeda antara negara satu dengan negara yang lain dikarenakan perbedaan kebijakan tingkat pemegangan kas, struktur finansial negara, dan karakteristik masing-masing negara.

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This research is conducted to investigate secular cash holding trend of corporate cash holdings of 852 firms across ASEAN 5 countries (Philippines, Indonesia, Malaysia, Singapore, and Thailand) during period 2007-2011 and analyzing the impact of changes in firms characteristic such as cash flow volatility increases, less net working capital, capital expenditure declines, leverage declines, level of lagged cash holding and controlled by size, market to book, cash flow, dividend. The results find that changes of firm characteristics contribute greatly in explaining secular trend of cash holding. The results vary across countries because different cash policies, financial structure and characteristic of each country."

"Tujuan penelitian ini untuk mengetahui pengaruh kinerja lingkungan (karbon) terhadap manajemen laba akrual dan riil perusahaan. Penelitian ini dilakukan dengan panel data dan menggunakan metode random effect. Data penelitian terdiri dari 87 perusahaan non-finansial di India pada periode 2018–2022 dengan jumlah 435 observasi. Hasil penelitian menunjukkan bahwa kinerja lingkungan (karbon) berpengaruh signifikan terhadap manajemen laba akrual perusahaan. Spesifiknya, kinerja karbon berpengaruh positif signifikan sedangkan kinerja lingkungan sub sumber daya berpengaruh signifikan secara negatif terhadap manajemen laba akrual. Ditemukan hubungan insignifikan antara kinerja lingkungan (karbon) dengan manajemen laba riil. Ini mengindikasikan bahwa negara berkembang mungkin belum memindahkan aksi manajemen labanya dari akrual ke riil. 

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The purpose of this study is to examine the effect of environmental (carbon) performance on accrual earnings management (AEM) and real earnings management (REM). This analysis is conducted using panel data and the random effect method. The sample consists of 87 non-financial companies in India in the period 2018–2022 with a total of 435 firm-year observations. The results show that environmental (carbon) performance has significant effects on AEM. Specifically, carbon performance has a positive effect while environmental performance on sub-resources has a negative effect on AEM. An insignificant relationship was found between environmental (carbon) performance and REM. This indicates that developing countries may not have moved their earnings management actions from accrual to real method."

"Penelitian ini bertujuan untuk mengetahui pengaruh dimensi national culture: uncertainty avoidance, individualism vs. collectivism, masculinity vs. femininity, power distance index, dan long term orientation terhadap bank risk-taking behavior yang berfokus pada sampel beberapa negara Asia. Penelitian ini menggunakan metode regresi ordinary least square pada data cross-section. Hasil dari penelitian ini menunjukkan bahwa dimensi national culture memiliki pengaruh terhadap bank risk-taking di beberapa negara Asia. Uncertainty avoidance, masculinity vs. femininity, dan long term orientation memiliki pengaruh negatif terhadap bank risk-taking. Sedangkan power distance memiliki pengaruh positif terhadap bank risk-taking.

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This study aims to determine the effect of national culture uncertainty avoidance, individualism vs. collectivism, masculinity vs. femininity, power distance index, and long term orientation on bank risk taking behavior focusing on Asian countries sample. This study uses cross section data ordinary least square regression model. The results of this study find that dimensions of national culture have an effect on bank risk taking behavior. Uncertainty avoidance, masculinity vs. femininity, and long term orientation have a negative effect on bank risk taking. meanwhile power distance have a positive effect on bank risk taking."

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Penelitian ini menganalisis pengaruh korupsi terhadap cash holding dan cash flow sensitivity of cash perusahaan di emerging market ASEAN berdasarkan MSCI, yaitu Filipina, Indonesia, Malaysia dan Thailand. Penelitian ini menggunakan data panel dengan sampel 326 perusahaan. Variabel dependennya adalah cash holding dan changes in cash holdings. Variabel independennya adalah corruption index dan variabel interaksi antara corruption index dan cash flow. Variabel kontrolnya yang terdiri dari faktor spesifik perusahaan dan faktor makroekonomi. Periode penelitian yang dipilih dari tahun 1997-2018 yang dibagi menjadi 2 periode yang berbeda, yaitu tahun 1997-2007 (sebelum SEA-PAC) dan tahun 2008-2018 (setelah SEA-PAC). Hasil penelitian menunjukkan bahwa korupsi berpengaruh secara positif terhadap cash holdings dan cash flow sensitivity of cash.

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This study examine the effect of corruption on cash holding and cash flow sensitivity of cash in emerging market ASEAN based on MSCI i.e. Philippines, Indonesia, Malaysia and Thailand. This study used panel data set of 326 firms. The dependent variable are cash holding and changes in cash holdings. The independent variable are the corruption index and the interaction variable of corruption index and cash flow. The control variables consists of company-specific factors and macroeconomic factors. The research period is 1997-2018 that divided into period 1997-2007 (before SEA-PAC) and period 2008-2018 (after SEA-PAC). The findings show that corruption has a positive effect on cash holdings and cash flow sensitivity of cash.

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"Penelitian ini bertujuan mengetahui pengaruh fee based income dan non deposit funding terhadap profitabilitas dan risiko umum konvensional di Indonesia. Profitabilitas diukur menggunakan rasio return on asset dan risiko diukur menggunakan Z-score. Penelitian ini menggunakan data panel dan menggunakan metode Generalized Least Square (GLS).Hasil penelitian menunjukan tidak ada pengaruh fee based income dan non deposit funding terhadap profitabilitas. Hasil penelitian ini menunjukan fee based income dan non deposit funding memiliki pengaruh terhadap risiko bank umum konvensional di Indonesia.

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This study aims to find the impact of fee based income and non deposit funding to conventional bank rsquo s risk and profitability in Indonesia Profitability is measured by return on asset and risk is measured by Z score This study uses panel data and Generalized Least Square as method GLS is used.

The result shows that fee based income and non deposit funding has no significant effect to profitability. This results show that there is an effect between fee based income and non deposit funding to Indonesian Conventional Bank risk Key words Fee Based Income Non Deposit Funding Profitability Risk."

"ABSTRAKPenelitian ini bertujuan untuk mendeteksi adanya perilaku herding secara keseluruhan, pada saat keadaan imbal hasil saham positif dan negatif, serta pada saat tingkat volatillitas tinggi dan rendah. Menggunakan data saham harian di negara BRICS (Brasil, Rusia, India, Cina, dan Afrika Selatan) pada tahun 1997-2017. Dengan melakukan penelitian mengenai perilaku herding yang ada di negara ini, diharapkan dapat membantu investor untuk melihat potensi risiko yang ada di negara tersebut. Menggunakan metode CSAD yang dikembangkan oleh Chang et al (2000), hasil penelitian menunjukkan adanya perilaku herding secara keseluruhan, pada saat keadaan imbal hasil positif dan negatif, serta pada tingkat volatilitas tinggi dan rendah di negara India, Cina, dan Afrika Selatan. Perilaku herding yang terjadi pada saat tingkat imbal hasil rendah dan tinggi menunjukkan bahwa investor cenderung merespon untuk mendapatkan keuntungan dibandingkan menghadapi kerugian investasi. Herding yang terjadi pada saat tingkat volatilitas rendah menunjukkan kurangnya informasi yang tersedia di dalam pasar, sehingga mengikuti keputusan investor melalui pergerakan harga saham menjadi salah satu pilihan keputusan investasi.

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ABSTRACTThis research aims to examine the existence herding behavior in BRICS countries (Brazil, Russia, India, China, and South Africa) stocks market and asymetric herding behavior in 1997-2017 by using daily data of the stocks price. This research aims also to help the investors to know the potential risk in each BRICS countries as their reference to do the investment decisions. By using the CSAD method (Chang et al, 2000), the results shows that there is an existence of herding behavior in all period and asymetrically in India, China, and South Africa and mixed evidence in Brazil and Russia. Herding behavior occurs when the level of market return in positive and negative implies that the investors tend to response to the gain than facing the loss, that is why the investors tend to mimic other investors in order to save their value of the portoflio. When herding behavior occurs in high level of volatility it implies that the level of uncertainty in the countries are really high, so they tend to observe the market movement and mimic others. Herding behavior occurs in low level of volatility implies that there is insufficient information in the market so the investors ignore their prior information and tend to observe the big market movement as the references to their investment decisions."