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Abstrak :
Makalah ini membahas dua hipotesis dalam persaingan perbankan, Competition-Stability dan Competition-Fragility di lima negara Asia Tenggara periode 2011-2018. dengan menggunakan Merton Distance to Default dan Z-score sebagai pengukuran stabilitas keuangan dan menggunakan Indeks Lerner kompetisi untuk pinjaman dan deposit bank untuk mengukur persaingan industri perbankan. Kami menemukan bahwa kedua hipotesis terjadi di industri perbankan Asia Tenggara, market power dapat mempromosikan stabilitas perbankan sementara tidak stabil volatilitas incomenya dan kompetisi perbankan dapat membuat volatilitas income menjadi stabil namun rentan terhadap resiko Default ......This paper examines two hypotheses in banking competition, the competition-stability and competition-fragility in five southeast asian countries in the period of 2011-2018. by using Merton Distance to Default and Z-score as financial stability measurement and using the Lerner index competition for bank loans and deposits market to evaluate competition in the banking industry We found that both hypothesis occur in Southeast Asian banking industry, market power can promote banking stability while not stable in bank income volatility and banking competition can make stable in income from banking operations but prone to default risk.

Abstrak :
[ABSTRAK
Penelitian ini bertujuan untuk menganalisis hubungan jangka panjang dari pasar keuangan Indonesia dengan pertumbuhan ekonomi di Indonesia. Variabel penelitian yang digunakan adalah gross domestic product (GDP) harga konstan, kompetisi perbankan yang diproksi dengan Herfindahl Index (HHI), kapitalisasi pasar saham, dan financial development. Untuk menjawab tujuan penelitian maka digunakan metode Autoregressive Distributed Lag (ARDL) dan akan menggunakan bound testing cointegration untuk melihat hubungan kointegrasi dari variabel-variabel yang diteliti. Hasil dari penelitian ini menunjukkan bahwa kompetisi perbankan dan kapitalisasi pasar saham berpengaruh positif dan signifikan dalam jangka panjang terhadap pertumbuhan ekonomi di Indonesia.

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ABSTRACT
The purpose of this study is to analyzes the long run relationship between money market with economic growth in Indonesia. The research variables are gross domestic product (GDP) by constant price, banking competition that is proxied by Herfindahl Index, stock market capitalization, and financial development. To answer the research objective, we use Autoregressive Distributed Lag (ARDL) and using bound testing cointegration for testing the cointegration relationship between the research variables. The results show that in the long run, the banking competition and stock market capitalization have impact significantly positive to the economic growth in Indonesia.;The purpose of this study is to analyzes the long run relationship between money market with economic growth in Indonesia. The research variables are gross domestic product (GDP) by constant price, banking competition that is proxied by Herfindahl Index, stock market capitalization, and financial development. To answer the research objective, we use Autoregressive Distributed Lag (ARDL) and using bound testing cointegration for testing the cointegration relationship between the research variables. The results show that in the long run, the banking competition and stock market capitalization have impact significantly positive to the economic growth in Indonesia., The purpose of this study is to analyzes the long run relationship between money market with economic growth in Indonesia. The research variables are gross domestic product (GDP) by constant price, banking competition that is proxied by Herfindahl Index, stock market capitalization, and financial development. To answer the research objective, we use Autoregressive Distributed Lag (ARDL) and using bound testing cointegration for testing the cointegration relationship between the research variables. The results show that in the long run, the banking competition and stock market capitalization have impact significantly positive to the economic growth in Indonesia.]

Abstrak :
Tesis ini meneliti hubungan tingkat kompetisi dan tingkat konsentrasi perbankan terhadap risiko sistemik. Selain itu, juga dilakukan penelitian mengenai hubungan kontribusi bank terhadap risiko sistemik dengan karakteristik masingmasing bank. Penelitian ini menggunakan model Panzar ? Rosse dan CR5 atas data laporan keuangan bulanan seluruh bank umum ke Bank Indonesia untuk mengukur tingkat kompetisi dan tingkat persaingan. Penelitian ini juga menggunakan model CoVaR dengan metode Quantile Regression atas data return saham bulanan bank umum untuk mengukur risiko sistemik. Periode pengamatan adalah Januari 2004 sampai Maret 2013. Hasil penelitian menunjukkan tingkat persaingan dan tingkat konsentrasi perbankan meningkatkan risiko sistemik Hal ini berarti mendukung hipotesa competition fragility dan concentration fragility. Hal ini menandakan bahwa persaingan yang makin tinggi mendorong perbankan untuk mengambil risiko yang lebih tinggi sementara tingkat konsentrasi yang makin tinggi mendorong bank dengan kekuatan pasar besar untuk mengenakan bunga yang lebih besar yang pada gilirannya dapat menyebabkan meningkatnya risiko sistemik atas sistem keuangan. Adanya pengaruh variabel kontrol Net Interest Margin terhadap kedua model memperkuat hipotesa tersebut. Selain itu ukuran bank dan rasio pinjaman antar bank terhadap pendanaan juga berpengaruh terhadap kontribusi risiko sistemik suatu bank. Sementara variabel profitability (ROA), variabel struktur permodalan (EQ), dan variabel struktur deposito (ratio demand deposit terhadap total funding) tidak berpengaruh pada kontribusi risiko sistemik. ...... This thesis analyzes the relationship between Indonesian banking competition, concentration, and systemic risk. This thesis also analyes the relationship between bank?s contribution to systemic risk with characteristics of individual bank. This thesis uses Panzar ? Rosse and CR5 model of the entire bank?s monthly financial report to measure competition and concentration. CoVaR with Quantile Regression of banks monthly stock return were used for systemic risk contribution measurement. The period of observation is from January 2004 until March 2013. The empirical result shows concentration and competition increase the systemic risk (CoVaR). This thesis support both competition-fragility and concentration-fragility hypothesa. This means increasing competition leads banks to taking higher risks and banks with high market power tends to charge higher interest rate to their debtors which will lead to increasing banks contribution to systemic risk. The fact that Net Interest Margin as control variable is statistically significant for both models shows further support for both hypothesa. The influence of size and interbank deposit ratio to bank?s contribution to systemic risk is statistically significant, meanwhile, profitability, capital structure, and demand deposit to total funding ratio are not significant.

Abstrak :
Penelitian ini menggunakan pendekatan kuantitatif dan model yang digunakan adalah model Panzar-Rosse (1987) yang memperkenalkan pendekatan perilaku pendapatan untuk menilai tingkat persaingan dalam sektor perbankan. Pengukuran tingkat persaingan dengan menggunakan model ini menghasilkan suatu nilai yang disebut H-Statistic atau H-Stat. Penelitian ini menggunakan sampel sebanyak 26 bank yang terdaftar di Bursa Efek Indonesia (BEI) dengan waktu 5 tahun pengamatan maka diperoleh 130 observasi yang akan digunakan dalam analisis lebih lanjut dan diperoleh hasil bahwa struktur pasar industri perbankan yang terdaftar di BEI periode 2008 - 2012 berada dalam keadaaan pasar persaingan monopolistik. Berdasarkan hasil ini maka dalam rangka memaksimumkan keuntungannya bank harus mampu menghasilkan produk yang berbeda karakteristiknya dengan produk pesaingnya.

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This research is used quantitative approach and model used is Panzar-Rosse's Model (1987) which introduced an approach for assessing the level of revenues behavior of competition in the banking sector. This model provides an indicator of competition, known as H-Statistic or H-Stat. This research is used 26 firms listed on Indonesia Stock Exchange between 2008-2012 were selected as sample with five years of observations and obtained 130 observation that will be used in further analysis. It can be concluded that market structure of banking industry which listed in Indonesia Stock Exchange for period 2008 - 2012 into the category of monopolistic market. Based on this result and in order to maximize the benefits bank must be able to produce different characteristic products than other firms.