Analysis of the Macro Economic Influence Factors and Performance Company to Build a Model Prediction Bankruptcy (Study at Listed Companies in IDX for Year 1999-2010).
i{Si*u]i]it
i{i{il$li, f i r'(rs,.
tt"'$$}u'n
$
,i,r;
ffiffi&
sJe$llas sr*lslYA
il /W \fr
r
&
L
il Mil M I
Y
t
x
I
'
I
{
"{
U t lI
I
}t
U
s(
I
W
d{,fr
{
}
rw
-1{4
",Y't. .{$.\ 1{.$
tt"
-sr
fi il ts
1$ $
kd
I.
(lAAl
{\fr
rS. #"."n
$h
d
1
)D
1-
W
{$ AASBI
Mftl*
s!l&lit@
i{ffi
I
PROCEEDING
THE lOth INTERNATIONAL ANNUAL SYMPOSIUM
ON MANAGEMENT
CHALLENGES AND
OPPORTUNITIES OF THE
LEADING EDGE IN WORTD CLASS
SUPPLY CHAIN MANAGEMENT
Bali, March 16rh,20L3
Department Of Management
Faculty of Business and Economics
Universitas Surbaya
Proceeding
The 10th UBAYA International Annual Symposium on
Management
CHALLENGES AND OPPORTUNITIES OF THE LEADING
EDGE IN WORLD CLASS SIJPPLY CHAIN MANAGEMENT
Editors:
Werner R. Murhadi, Dr
Prita A1u, MM
Reviewers:
Candra S. Chayadi, Ph.D. (School of Business, Eastern Illinois
University)
Dudy Anandya, Dr (Universitas Surabaya)
Joniarto Parung, Ph.D, Prof. (Universitas Surabaya)
Ning Gao, Ph.D. (Manchester Business School)
Wahyu Soedarmono, Ph.D. (Research Analyst, The World Bank,
Jakarla)
Yuanto Kusnadi, Ph.D. (City of Hongkong University)
Published by:
Department of Management, faculty of Business & Economics
Universitas Surabaya
Jl. Raya Kalirungkut
Surabaya, Indonesia 60293
Phone : +62-31-2981139
Fax
ISBN:
: +62-31-2981239
91 B-97
9-99365-7 -8
Copyright O 2013 Department of Management, faculty of Business
& Economics, Universitas Surabaya
1OtI,
ENNUAI' SYMP
UBAYA INTENNETIONAT'
FORE,WORD
for
10th
Th"
coinpilation of- papers submitted
This oroceeding is a's,-p,irrrrn
on Nlanagement rlnsltnrr condtrcted
Annual
lnternational
by
Faculty if
the Department of H't*n'-nt'tr"nt'
svmposium is Challenges and
Universitas Surabaya #tl;#il:1"
"iir"
Supply Chain
of the L""Ji'g Edge in rVorid Class
Business and Economlcs'
Opportunities
N'Ianagement.
to
In this opportunity, we would like
share our gratefr-rl
to the institutions
il;',i ; 0...,, : l:^:: I,i i,: j, nl! #[. ":.::;[.,ii tiffi 'ilI:
tJ:lll:lH,
und highlr chalrensing arrd
(Nationalandabroad)*t'o'"ntltheirlecturerorresearchertooursyinposlum'
?L:l=;:"
opporiuniriet
repre\cnts,
'n ''"'-'ing ol the most signiiicant
rrer oI re:clrch rtnd prucl'icc Onethat individual business no
manag:.Tent is
paradigm shitts ot modern business
iongercompeteassolelyautono]noLlsentities.butratherasstipplychains.
.*, oi.,ernetwork competition' In this
Business
-un.=.n.ni';'i, #;.;;',r-r.
emergingcompetrti"ee*'i.o","*lther-rltimatesuccessofthesinglebusiness
the company's intricate
to
depend on
'"n[trn#'
nerwork of b,siness .J""i,"^r'ntrr.
will
t'r'ility -inteErate
irr""rpprv ch-ain is not a chain of businesses
multiple
reiaiionsnips' bllt a net\\'ork of
excellence
process
business
Jeals *ith total
with
business and relationsil+r.icnn
ro"nogt-n the business and relationships
with one-to-o"'
Uu'inJ"-io-t)i'i'""
nt'''J"y ui
chain Management
the ,rpprl chairi. s,lc,-'essful supply
of
other members
The challenge is
,-,-,u*. qlul.u
:11'.1,]-,t^"1"
requires cross-runctioi"i'ii"ls"il"'
this integlatlon'
ancl represen" o
accornplish
to cletermine how to stlccessfitlly
view from
to-sether clift'erent points of
This symposium aims to bring government.
and^international
"s"ngil various ideas and
academics. business practitioners,
goal to share ancl drsieminate
institutions lvith the oiurri"t"
practices in Suppi,v Chain Management'
of papers' t"'--l5-'f^':T a,conceptual
Final1y. we hope.that this compilation
chain
;;;;h: can enrich our perspectir,e in..supply
.*o,r,.'ii
"n
managementonait'oppfitationincreatinghigherlevelofcompetltl\leness'
work ro
Ba1i.
-8
tSSN SZA-eZ 9'99365-7
'
Mruch 16'r'' 20 13
1r1
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
TABLE OF CONTENTS
FOREWORD
TABLE OF CONTENTS
1.
THE EFFECT OF FINANCIAL RATIOS TO STOCK PRICE IN
SEVERAL COMPANIES LISTED IN SzuKEIIATI GROTIP IN
INDONESIA STOCK EXCHANGE
Rosemarie Sutjiati
2.
Njotoprajitno
-
HIERARCHICAL INNOVATION MODEL DEVELOPMENT IN
INDONESIAN PHARMACEUTICAL INDUSTRI
Syuhada
J.
Sufian.
PLACEMENT EtrFECTIVENESS
:
OF AUTOMATIC TELLER
MACHINE ON INDONESIAN PRIVATE BANKING
Victor Wianto, Agus Zainul
4.
5.
Arifin
FACTORS INFLI.IENCING THE SUPPLY CHAIN PERFORMANCE
(A STUDY OF MANT]FACTURING FIRMS IN INDONESIA)
Lina Anatan.
CONSUMER BEHAVIOR AND INDONESIAN VALUES SCALE:
VALIDATION AND SHORT-FORM SCALE DEVELOPMENT
Sabrina O. Sihombing
6.
CONTRASTING REFLECTIVE AND FORMATIVE MODELS ON ESERVICE QUALITY: AN EMPIRICAL STUDY
Jessica Adelaide Gusti, Sabrina O. Sihombing.......
7.
T}IE PREDICTIVE MODEL OF RELATIONSHIP BETWEEN ROLE
STRESS, PERSONALITY, AND SALES PERFORMANCE IN
SERVICES MARKETING
Verina H. Secapramana....
ISBN : 978-979-99365-7 -B
Ji;
_:
:
MANAGEMENT
l0th UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON
EFFECT OF COMPETENCE' TRAINING, MOTIVATION
THIESS
8.
Ertrplovgg PERFoRMANCE, AGAINST PT
CONTRACTORS INDONESIA AT BALIKPAPAN
Didik HadiYatno. Misna Ariani'
POLICY INTEGRATION FOR HOUSEHOLD
9.
WASTE
MANAGEME,NTTHROUGHESTABLISHMENTOFWASTE'BANK
Etty Soesiloivati, Sri Utamt'
10.
THE,ROLEOFE,VENTSPONSORSHIPINPROMOTINGTOURIST
ENTHUSIASM (STUDIES IN SE,MARANGGREAT SALE' E\'ENT)
Yudi Pramudiana, Arinda Ike
I
t.
Wardhani
10
'
DEVELOPINGACONCEPTLIALMODELoFF{OTEL,SNETWORK
oFBUSINESSRELATIONSHIPSINTHEHOTELINDUSTRY:THE
CASE OF HOTELS IN BALI. INDONE,SIA
il
Nyoman lndah Kusuma Dervi'
12.
TFIEEXISTINGMODELIDENTITICATIONoFCUCURBITASp
(YELLOW PLMPKIN) AGRO INDUSTRY SUPPLY CHAIN
I,TEXICEUTNTINGETASANSUB-DISTRICT.SE'MAR-{NG
REGENCY
Hantoro'
egurtin" Eva Maria Soekesi. Meniek Srining Prapti' lnneke
l3
Alberta Rika Pratiwi.
r3.
IN
THE ANALYSIS OF INTERNAL AND EXTERNAL FACTORS
FoRMULATINGCOMPETITIVESTRATEGIESoNSKULL-CAP
AND TAMBOURINE INDUSTRIES IN BUNGAH VILLAGE
GRESIK
Sri Setyo Irjani, Monika Tiarawati
14.
t5.
15
'
MOTIVATIONALFACTORS.ENTREPRENEI]RSHIP.ETHNICITY,
THE BLOK
AND PARENTAL BACKGROLND: EVIDENCE FROM
INDONESIA
JAKARTA,
CENTE,R,
M SQUARE, E,LE,CTRONIC
egurig Wahlu Handaru, Widya Parimita, Inna Hadza Sabila
(TQM)
THE INFLUENCE OF TOTAL QUALITY MANAGEMENT
KE,RE,TA API
PT.
AT
RAISING
SALE,S
TO
APPLICATIONS
t@i*""i"}111"!w?*frr----*-
iisN'eza-s79-9s365-7-8
rq18
v
11
I.OThUBAYAINTERNATIONALANNUALSYMPOSIUMONMANAGEME\I
INDONESIA (PERSERO) BANDI.NG THE
2ND
OPE.RATIONS ARE 1
R. Ait Novatiani, Pondang
t6.
INFLTIENCE OF PARTNERSHIP SRATEGIC TO PERFORMANCE
OF PRIVATE COLLEGE IN BANDIJ]'{G
Dini Arwati. Dini Verdania...................
r7.
EF'FECT
OF RELATIONAL QUALITY AND ENTREPRENEUR
OzuENTATION TOWARD FRANCHISEE PERFORMANCE I\
INDONESIA
Lim
18.
Sanny.
IN SI.IPPLIER AND TRUST IN BRAND ON
THE PURCHASE AND ATTITUDINAL T,OYALTY FOR RETAILER
AT PT SINAR SOSRO IN SURABAYA
INF'LLTENCE OF TRUST
Christina Esti Susanti......
r9.
EF'FECT CAPITAL ADEQUANCY RATIO (CAR) AND NON
PERFORMING LOAN (NPL) ON RETURN ON ASSET (ROA)
BANKING IN INDONESIA (SURVEY ON INDONESIA STOCK
EXCHANGE /IDX)
Rima Rachmawati, Priska Amelia.
20.
A
PROJECT OF IMPROVEMENT ON T}IE
DESIGN OF JOBSAVORKS FOR PROFESSIONAL WORKE,RS AT
PT. BI.]KIT BATIJBARA TBK - TFIE YEAR OF 2OIII2O12 WITH
RECOMMENDATION: IMPLEMENTATION OF A CONTRIBLIOR
CASE STUDY:
MODEL
IN
CAREER MANAGEMENT FOR PROFESSIONAL
WORKERS
T. Soemarman
21.
I
I
I
I
I
t
IMPACT OF INTELLECTUAL CAPITAL ON THE FIRM'S
MARKET VALUE: TFIE MEDIATION ROLE OF' FINANCIAL
PERFORMANCE (E,MPIzuCAL STUDY FROM T}IE INDONESIAN
BANKING COMPANIES SINCE 2001 -201 l)
Sri Harryani, Bagus Nurcahyo, Renny Nur'aini..
ISBN:978-979-99365-7-8
vi
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
22.
THE EFFECT OF ECONOMIC GROWTH ON THE NLMBER OF
POOR PEOPLE IN INDONESIA. PERIOD 1994-2010
Sugianiningsih
23.
28
CLUSTER BUSINESS DEVELOPMENT AT THE NTICRO. SMALL
AND MEDILM ENTERPRISES
Wasifah Hanim
).1
L+
29
PRODUCT QUALITY CONTROL PROFILE ON LASEM BATIK
CENTRE
A-tustine Eva Maria Soekesi.
25.
BETTER INVESTMENT CHOICE IN CRISIS AND AFTER CRISIS:
STOCK VERSUS GOLD
26.
21.
Eka Darmadi Lim, Liliana Inggrit Wijaya.
32
CAN INNOVATION OF TIME DRIVEN ABC SYSTEM REPLACE
CONVENTIONAL ABC SYSTEM?
Tan Ming Kuang.
JJ
COST EFFECTIVENESS ANALYSIS OF DIURETICS TI{ERAPY
FOR ASCITES IN HEPATIC CIRRHOSIS PATIENTS AT ADI
HUSADA UNDAAN WETAN HOSPITAL IN SLRABAYA
Doddy de Queljoe, Amelia Lorensia, Indri purnama Putri
28.
EXAMINING VIRTUAL RECRL]ITING
ENVIRONMENT
FEATURES OF INDONESIA CORPORATE WEB SITE
Yenny Purwati, Rosaly Franksiska. Eristia Lidia Paramita
29.
T}IE EFFECTS OF INTERPERSONAL COMMUNICATION AND
MOTIVATION TO PRODUCTIVITY OF EMPLOYEES AT HOTEL
MULIA JAKARTA
I Gede Adiputra.
30.
THE SURVIVAL OF SMALL RESTAURANTS: MICRO ANALYSIS
OF NON CLASSIFIED RESTALTRANTS IN KUTA SELATAN. BALI
Ida Bagus Made Wiyasha, Ni Luh Suastuti.
ISBN: 978-979-99365-7 -8
38
].Oth
31.
UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEME\]
SUPPLY CHAIN MANAGEMENT: STRATEGY IN INFORMATIO\
TECHNOLOGY TO REDUCE COST
Mey,thi, Riki Martusa
32.
JJ.
EVALUATING TFIE FINANCIAL PERFORMANCE USING THE
GROWTH OF EPS, CFO, AND EVA AND TFIEIR IMPACT TO T}tr
STOCK RETURN OF LISTED TELECOMMUNICATIO\
INDUSTRY IN BEI
Suskim Riantani, Harry Setyo Negoro, Alfiah Hasanah
EFFECT OF APPLICATION CORPORATE SOCIAI
ON IMAGE PI
ANTAM LINIT
RESPONSIBILITY
PASCATAMBANG KIJANG
Sutama Wisnu D, Budi Astuti.
34.
LEADERSHIP AND FIVE STAGE MODEL OF ORGANIZATION
GROWTHAT UD "RAMA JAYA"
May Eka Saputri, Liliana Inggrit Wijaya.
35.
VALI,'E CHAIN CONCEPT ON STRATEGIC CSR PROGRAM: A
CASE STI,IDY OF MARTHA TILAAR GROI,P
Dianne Frisko.
36.
DEtrINE THE CRITERIA TO IDENTIFY CORE AND NON.CORE
ACTIVITIES TO
LEVERAGE TT{E COMPANY'S
STRENGTMNING THE
COMPETIITIVENESS AND
PARTNERSHIP WITH OT}IERS
Alain Widjanarka...
37.
DETERMINANTS OF T}IE DECISION
MUTUAL FTINDS IN INDONESIA
TO BUY AND
SELL
Irene Rini Demi Pangestuti............
38.
A COMPARATIVE STUDY ON RETURN STOCKS BETWEEN
VALI.IE STOCKS AND GROWTH STOCKS IN THE GO PUBLIC
COMPANIES
AT THE INDONESIAN STOCK
(PERTOD OF 2006-2010)
Panji Aditya Evindo, Nadia Asandimitra Haryono.........
ISBN: 978-979 -99365-7 -8
EXCIIANGE
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
39.
FOREIGN DIRECT INVESTMENT
T}IE CHINA EFFECT EXIST?
IN ASEAN.
1994-2010: DOES
Yulius Pratomo
40.
48
TTM RELATIONSHIP BETWEEN THE LEVEL OF T}IE USE OF
ERP SYSTEM, SCM,STRATEGIC ALIGNMENT.AND
FIRM
PERFORMANCE USING BALANCED SCORECARD APPROACH
Weli Imbri...
41.
49
INTERNAL AUDIT QUALITY ROLE IN IMPROVING
EFFECTIVENESS OF QUALITY MANAGEMENT SYSTEM ISO
9001:2000 (Case Study PT INTI Bandung)
Christine Dwi K.S., Sondang M.R., Adriana Oktarina Sembiring
/1)
50
THE IMPACT OF RELATED PARTIES' TRANSACTIONS TO
MARKET VALUATION OF FIRMS
52
43.
TRANSITION OF IFRS IN INDONESIA: FINANCIAL POSITION,
FINANCIAL PERFORMANCE AND KEY FINANCIAL
INDICATORS EFFECTS
Stephanie Susilo, Felizia Arni Rudiawarni....
44.
53
INFLI,ENCE OF JOB MOTIVATION AND JOB SATISFACTION ON
EMPLOYEE PERFORMANCE IN ASURANSI JIWA BERSAMA
(AJB) BLTN4IPUTERA 1912 SLRABAYA REGIONAL OFFICE
Agus Frianto, Ayu Septirini.... . ...
45.
55
INNOVATION SUCCESS IN SMALL BUSINESS CONTEXT: AN
EMPIRICAL EVIDENT FROM INDONESIA
Aluisius Hery Pratono, Suyanto.
46.
56
FACTORS INFLUENCE INDONESIAN YOIING CONS{-A4ERS'
ONLINE PI.]RCHASE INTENTION IN SOCIAL MEDIA WEBSITES
Levina Rolanda 1jia, Christina R. Honantha.......
41.
51
CAREER DEVELOPMENT OF CREATIVITY REVIEWED. AND
COURAGE IN BUSINESS INNOVATIVE MTLTI-LEVEL
ISBN: 978-979 -99365-7 -8
ix
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEME\I
MARKETING (MLM) DISTRIBUTOR OzuFLAME DENPASAR
Luh Kadek Budi Martini
48.
ANALYSIS OF THE MACRO ECONOMIC INFLUENCE FACTORS
FINANCIAL AND PERFORMANCE COMPANY TO BI.IILD {
MODEL PREDICTION BANKRUPTCY (STI]DY AT
LISTED
COMPANIES IN IDX FOR YEAR 1999-2010)
M. Sienly Veronica.
49.
EARNINGS MANAGEMENT TREND TOWARD COAL COMPAN\
IN TFIE. INDONESIA STOCK EXCHANGE WHICH
EXPECTED TO BANKRUPTCY BY USE THE ALTMAN Z-SCORE
LISTED
MODEL, SPRINGATE MODEL AND ZMIWISKY MODEL
I\
PERIOD 2009-2011
Suciaty Debora Ridwan, M.Sienly Veronica.
50.
FIRM CHARACTERISTICS, INTELLECTUAL CAPITAL, AND
ENVIRONMENTAL PERFORMANCE (EMPIRICAL EVIDENCE
FROM LISTED COMPANIES IN INDONESIA)
Ni Wa,van Rustiarini.
51.
IMPROVING COMPANY'S COMPE,TITIVE ADVANTAGES BY
IDENTIFYING WASTE IN THE PRODUCTION PROCESS CASE
STUDY AT WATOETOELIS SUGAR MANUFACTI-]RER IN
SIDOARJO
52.
GAUGING TF{E, FINANCIAL PERFORMANCE OF BANKING
USING CAMEL MODEL: TI{E PROSPECT OF ISLAMIC BANK IN
INDONESIA ACCORDING TO PUBLIC TRUST COMPARED WITH
CONVENTIONAL BANK
Yohanna Handjaja, Deddy Marciano, Liliana Inggrit Wijaya
53.
INFLI-,,ENCE OF MANAGEMENT PERFORMANCE AND
INTELLECTUAL CAPITALTOWARD TFIE FIRM VALUE
T}IE
Agus Wahl.udi Salasa Gama, Ni Wayan Eka Mitariani.....
ISBN: 978-979 -99365'7 -B
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
54.
TFIE ROLE OF POWER AND CONFLICT RESOLUTION IN
SUPPLY CHAIN RELATIONSHIPS: SMALL AND MEDIT]M-SIZED
ENTERPzuSES CONTEXT
Amak Mohamad Yaqoub, Indri Apriani Rahma Pratama.
..
55.
T}IE
INFLTIENCE
STRATEGIES
ON
OF
PROSPECTOR
PERFORMANCE
AND
61
DEFENDER
WITH DIMENSIONS
OF
SOCIAL CAPITAL AS MODERATING VARIABLES
Bambang Suko Priyono
s6.
68
ACTIVITY PERFORMANCE ANALYSIS OF SI.IPPLY CHAIN
PERFORMANCE OF ACTIVITY MODEL APPROACH STUDY AT
UKM KRIPIK BUAH KEBONSARI
Choirum Rindah Istiqaroh, Saraswati Budi Utamj.....
69
57.
T}IE INFLIIENCE OF FINANCIAL
PERFORMANCE {EPS
(EARNING PER SHARE), PER (PzuCE EQI,IITY) AND ROA
(RETI.]RN ON ASSETS)} TO SHARE PRICE INDEX EARNING
RATrO), DPR (DEVTDENT pAyOUT RATrO), ROE (RETURN ON
EQUTTY) AND ROA (RETURN ON ASSETS)] TO SHARE pRrCE
INDEX
1t
Dheo Rimbano, Sardiyo, Maulana.
58.
THE RELEVANCY OF USING WEBSITE FOR PROMOTING
FIEALTH CARE PRODUCT AND SERVICES
Edo Sri Harsanto, Naafilah Lailatirrohmah.
59.
EMOTIONAL ATTACHMENT
RELATIONSHIP BETWEEN
EMOTIONAL BRAND
Rendy May Fandi, Efendi.....
60.
...
...
....
...
t-)
AS A MEDIATOR OF THE
SERVICE QUALITY AND
t4
MALMI AND BROWN'S MANAGEMENT CONTROL SYSTEM IN
PRODUCTION AREA: A CASE STUDY IN PT DS STIRABAYA
Fandy San Kartawidjaja, Fidelis Arastyo Andono.....
61.
15
TT{E EFtrECT OF FINANCIAL CONDITION. THE FAILURE OF
DEBT RATIO, FIRM SIZE AND PI.]BLIC ACCOLNTING
ISBN : 978-979-99365-7 -B
xl
IOtI,UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
REPUTATION ON ACCEPTANCE OF GOING CONCERN OPINION
Hendro Lr-rkman, Stevanus Adree Cipto Setiawan.......
62.
EFFECT OF INVESTMENT OPPORTUNITY SET ON CASH
DIVIDEND POLICY WITH AVERAGE OF SALES GROWTH ON
EVERY LIFE CYCLE AS A MODER{TING VAzuABLE (STUDIES
ON MANUFACTURING COMPANIES IN INDONESIA STOCK
EXCHANGE)
I Dewa Made Endiana.
63.
THE EFFECT OF ACE. LEVEL OF EDUCATION. AUDITORS
WORK EXPERIENCE AND TYPE OF BUSINESS CLIENT ON THE
AUDIT DELAY PUBLIC ACCOLINTANT IN BALI
I Gede Cahyadi Putra..
GOOGLE SEARCH TRAFFIC AND IT'S INFLLIENCE ON RETURN.
LIQUIDITY AND VOLATILITY OF STOCK RETLRN EMPIzuCAL
STUDY: MANUFACTUzuNG FIRMS IN INDONESIA STOCK
EXCTLANGE
Berto Usman. Eduardus Tandelilin.
65.
PENETRATING INDONESIAN BANK ASSURANCE MARKET:
STRATEGIC MANAGEMENT.
INDONESIA STYLE
PT. ASLIRANSI
CIGNA
Suresh Kumar. Randy Prasetyo.
66.
COLLABORATION STR{TEGY ON INDLTSTRIAL CLUSTER (TFM
NEW STRATEGY OF THE NEW ERA)
Noviaty Kresna Darmasetiau an. . .. .
67.
.
FISH DISTRIBUTION SYSTEM DESIGN (CASE STUDY: FISH
AUCTION PLACE SIDOARJO)
Verani Hartati, Wiwik Sulistivowati
68.
SE,LF-CONCEPT AND SELF'-EFFICACY FOR BLIILDING AN
ACADEMIC PE.RFORMANCE : SISTEMATIC REVIEW APPROACH
Jun Surjanti. Dwiarko Nr-rgrohoseno, Sanaji.
ISBN: 978-979 -99365-7 -8
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
69.
TOTAL QUALITY MANAGEMENT IN EDUCATION (TQME):
PROSPECiIVE STRATEGY FOR HIGHER EDUCATION
INSTITUTION
Ratna Widiastuti'....
70.
84
THE ROLE OF ENVIRONMENTAL TNCERTAINTY AND
IMPLEMENTATION SI.JPPLY CHAIN F'OR INCREASING
COMPETITIVEADVANTAGEMANI,IFACTURINGINDUSTRIES
IN EAST JAVA
Sahnaz
'71.
ljbud..
INCREASING WHOLESALE CE.NTERS ROLE AS PART OF
SUPPLY CHAIN MANAGEMENT OF SME,S
Kabul Wahyu Utomo, Ludwina Harahap, Lely Dahlia"
'72.
COLLECTIVE ENTREPRENEURSHIP
PATTERNSFOR COOPERATIVE
KULONPROGO RE,GE,NCY,
Lely Dahlia.
73.
'
86
PARADIGM AS A
DEVELOPMENT IN
201 3
8'7
T}IEEVALUATIONoFUSINGIMPoRTANCEPERFORMANCE
ANALYSIS (IPA) TO DESIGN SERVICE EXCELENCE PROGRAM
Mudiantono, Rizal Hari
74.
85
Magnadi.
'
89
IMPROVEMENT BANK CUSTOMER SATISFACTION WITH
SERVICE QUALITY ABSTRACT
Yeuy Dwi
15.
Listari.
90
STRATEGIESToIMPLE,MENTTFIECHANGESINT}IEBASISoF
CASH TRANSFER FROM A HOUSE,HOLD-BASE TO A FAMILYBASE: THE CASE OF PKH IN INDONESIA
9l
Muhammad Nashihin.
76,
CORPORATE GoVE,RNANCE, SUSTAINABILITY, AND ISLAMIC
BANKING PERFORMANCE
Rohmawati Kusumaningtias" "
iSBN : 978-97 9-99365-7 -B
92
'
xlll
l0th UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEME\:
77.
TFM ROLE OF INSURANCE AGREEMENT AS PART OF RISI\
MANAGEMENT IN INDONESIAN BUSINESS ACTIVITY
Aris Armuninggar...
18.
THE IMPACT OF THE USE OF OUTSOURCING EMPLOYEE
AGAINST PRODUCTIVITY COMPANIES IN PT.PINDAD
BANDLNG
Sri Wiludjeng S. P., Muhammad Madyosa Ibrahim...
79.
80.
SUSTAINABLE BUSINESS INNOVATION TO WIN T}IE
COMPETITION A CASE STUDY OF INNOVATION BY WAYAN I\
BI,ILLFROG FARMING IN BALI
Liliana Inggrit Widjaya, Dudi Anandya, Fitri Novika Wijaya
SYSTEMATIC RISK AS MODERATOR OR MEDIATOR OF THE
INFLUENCE BETWEEN MACROECONOMIC FUNDAMENTAL
FACTORS AND STOCK RETI]RN
Yeye Susilowati.......
81.
MANAGING GLOBAL BUSINESS BY MINIMIZING THE EFFECTS
OF RUPIAH'S
VOLATILITY
Christina Yanita Setyawati.
82.
THE PE,RCEPTION OF ADOPTING AN
INFORMATION
TECHNOLOGY INNOVATION ON THE RURAL BANKS
OWNED BY LOCAL GOVERNMENT
Elen Puspitasari, Ceacilia Srimindarti.
83.
MODEL APPLICATION SERVICE LEVEL WITH SERVICE UNITS
PER DEMANDED TYPE ON GRESIK CEMENT AND TONASA
CEMENT STOCKS IN UD ''TJ'' DALLING-DENPASAR-BALI
Pertiwi Surya Negara, Juliani Dyah Tresnawati,
Budhiman Setyawan.
84.
THE, EFtrECTIVENESS OF INDEPENDENT COMMISSIONER IN
IMPLEMENTING GOOD CORPORATE GOVERNANCE AT
INDONESIAN STATE-OWNED ENTERPRISES
Synthia A. Sari.
ISBN: 978-979-99365-7 -8
XIV
ON MANAGEMENT
lOth UBAYA INTERNATIONAL ANNUAL.SYMPOSIUM
@
85.
AND
INDONESIAN READERS' MOTIVATIONS
ATTITUDE
TOWARDS DIGITAL PRESS
101
Anandya' Indarini
Ct-,rlstlna Rahardja Honantha, Dudi
86.
87.
88.
OVERSEAS COMPANIES
MANAGEMENT STYLE OF CHINESE
AND INDONESIA COMPANIES
Yie Ke Feliana.
102
ANALYSIS
IMPLEMENTATION OF VALI.]E CHAIN
IN
THE
SROII-EN STIPPLY CHAIN AGRIBUSSINESS
Rini Oktavera, Erna Andjani'
103
VOTING AND CASH
IMPACT OF DIVERGE,NCE BETWEEN
OWNERSHIP IN
ppnOUANCE:
ULTIMATE
FLOW RIGHTS OX
INDONESIA
105
I Putu Sugiartha Sanjaya'
89.
ENGINEERING
ACTIVITY COMPLAINT HANDLING TTIE
& SIIITES
HOTEL
OEPENTT',TENT NOVOTEL SIIRABAYA
Anita Wongso, Fitri Novika
90.
Widjaja'
"
106
ANALYSIS IN BUSINESS
IMPLEMENTATION OF FIVE FORCES
drinr Up: GASE srirDY oF HE'RY
107
KARYA MEDIA'
IMPACT OF ACQUISITION OF PT. INDOSIAR
TBK
isK sv pr. ELANG MAHKoTA TEKNoLoGI'
r08
FARM
Maria Assumpta Evi Marlina'
91.
Kazia Laturette......
92.
(BI RATE) ON
TTIE INFLTIE,NCE OF MONETARY POLICY
INDoNESIA
IN
BANKS
piornnsrt-lTY oF coMMERcIAL
Lia Amaliawiati, Edi
93.
Winarso"
110
INSOURCING? AN EMPIzuCAL
OPERATION AT "NH
CATERING
INVESTIGATION TON
OUTSOURCING
OR
eqTQnH,' BUSINESS trIRM,
SURABAYA
fiz
H. JohnY RusdiYanto'
ffi.. r?&r?r'iszos't'e
xv
1
Oth U
BAYA INTERN4TI9...
LOANS
THAT INFLUENCED- ]JJNDICATED
PERIOD 2006-2010
npr-rSToNS IN rrIE asilxiiivenftm
Marciano'
ffi;.#r-A;in sunaono' DeddY
94.
FACTORS
95.
,.PruCINC
AND FRENCH
THE APPLICATION
"eNP OF FAMAAssEr
I
THREE. FACTORS
cAPlrAL
ri&rii
i*"r"o"G t, o N
Mudji Utami
sT
oc K
E
MODEL
AT
x c I-IANG E
QUALTTY ANI)
"io cusroMER
ITIJ}CE L,YALTY oF
TFIE EFFECTS OF LOGISTICS
IN
ro''"oEi6'N
cusroMER
ix'nesr FooD RESTAURANTS
96.
DELTvERv oDER
sEi\'ii;
SURABAYA
JulianiDyahTrisnawatr'VenyMegawati'PritaAyu
Kusumawardhany"
"
CAPITALSTRUCTURE
TRADE-OFF -EUSTXE-SS
T}iE STUDY OF DYNAMIC
TT'
NONFINAi
-ENTITIES
T}IE
EXISTE,NCE TO
DUNNG PERIOD
iiCUANCE
STOCK
INDONESIA
9'7.
LISTED ON
200'7
-201r
Werner R. Murhadi"
Endang Ernawati'
98.
PROCEDURAL
AND VALIDATION OF
SCALE DEVELOPMENT
JUSTICE CLIMATF:
Joseph L. Eko Nugtoho' ' " "
S9.
"
- SE'JATI
IN PT MENTARI
I
ll
PERKAsA tMSPr suRABAYA ^
:l^'
:',.;;'
I
pit'i N-oiitu^ lntt'ony Soenardi Sudartan
LOGISTIC SERVICE QUALITY
Siti Rahaynr'
100.
ACCEPTANCFIKOMMUTER
PERCEPTION OF
''RABAYA
cHoIcE oN
TRAIN SIDOARIo-
ALTERNATI,E
io wonx .'pietr aswIrH
PLANNED
';;;;c^
'ibuii 1n'q'xsponrluox
:
rtr*-.. .. a7
IJEn]e.vrvr\
BEHAVIORTHEORY
A-r^
\z ^^-.
A*tonri
-^.. Artantl'
"lolri ^*"rtt, Nindria Untarini'
' " " ' " "'
Yessy
COMPANIES CAPITAL
..iECTON"
AFFECTING
101. THE FACTORS
-TP OFiX,'}'M
INFRASTRUCTURE.
STRUCTURE
xvl
ffiffig-sz
s'se36s-7'8
],Oth
UBAYA INTERNATIONAL
ANNI]4! .!I\4Y. *.:I
ON INDONESIA
UTILITIES, AND TRANSPORTATION LISTED
2006'2010
STOCK EXCHANGE, DUzuNG PERIOD
gndang
Ernawati"
'" '
Julius Irianto aunu*ulr,
'
121
AND COMPETENCY TO
IO2. ANALYSIS EFFECT OF INCENTIVE
AT SMART
THE WORKTNC PPNTORMANCE, OF EMPLOYEES
MANAGEMENT CONSI]LTANT PALEMBANG
Maulana,
122
SardiYo.
CAPITAL
103. ANALYSIS OF FACTORS THAT INFLTIENCE'
STRUCTUREANDTESTDIF.FERENTCAPITALSTRUCTUREIN
(FC) AND NON FINANCIALLY
FINANCIALLY CONSTRAINED
STUDY MANIJFACTI]RING
(CASE,
TXTCI
CONSTRAINEO
COMPANYINTIIESTOCKEXCHANGEoNT}IEPERIODFROM
2007 TO 2009)
Siti Puryandani, Dewi Mayasari"""
104. REVEALING THE PREFERE,NCES
124
IN
CONVEYING PzuCE
INFORMATION
t25
Budhi PurwandaYa, Eko Kusmurtanto
1O5.EF'FECTIVENESSOFITGOVE,RNANCEINBANKINGSECTOR
Aris Budi
Samuel David Lee, Pandam Rukmi Wuiandari'
126
Setvawan....
IN THE EtrFECT OF GOOD
CORPORATEGOVERNENCEONCoRPORATEPERFORMANCE
Renny Nur'ainy
Andrea Widianti t'l*i', S*"i David Lee'
106. THE ROLE OF LEVERAGE,
12'7
MARKET
107. COMPETITIVE BUSINESS ENVIRONMENT'
AND
ORIENTATION, STRATEGIC OzuENTATION
ON SMALL AND
PERFORMAXC; OT'SMES (EMPIRICAL STUDY
MEDIIA4 INDUSTzuES PEKANBARU CITY)
1aQ
Susi Hendriani, Machasin, Budi Trianto
THE CHANGES
108. THE EFFECT OF MACRO ECONOMIC TOWARD INDEX
ISLAMIC
OF STOCK PzuCE,INDEX IN JAKARTA
Lely Fera Triani, Etty Puji
B-*-"|q*IqE*-.**,",
T,
estari'
ffiN'.9?&9?s'sgzes-t-a
xvll
130
]-Oth
109.
UBAYA INTERNATIONALANNUAL SYMPOSIUM ON MANAGEMENT
INVESTMENT IN INDONESI
(MACROECONOMIC ASSESSMENT WITH VAR MODEL)
Etty Puji Lestari, Lely Fera Triani.........
DETERMINANTS OF
110. COMMUMCATION EFFECTI\IENESS
PERKASA. SIDOARJO
Elsye Tandelilin, Christina
ISBN r 978-979 -99365-7'B
IN PT. SALIM BROTMRS
https://fbe.ubaya.ac. id
.il*r"]ll1lllMsstM
Department ol Management
Faiutty of Buslness ind Economics
il
Universitas Suratraya
$
Jl. Raya F€litungkut, Swbaya, 8OZg3
Ph: +62 31 agAitaS Fax: +6231 298 {131
*rfiiili lhayain$ym6&flmal-l'*srft i mel1&$eiqqll&$Pffiiur&lbeye'e'ld
T
ANALYSIS OF THE MACRO ECONOMIC Influence Factors FINANCIAL AND PERFORMANCE COMPANY TO
BUILD A MODEL PREDICTION Bankruptcy (STUDY AT LISTED COMPANIES IN IDX FOR YEAR 1999-2010)
Veronica M.Sienly
Maranatha Christian University
Email: lee_pingping@yahoo.com
ABSTRACT
The purpose of this study was to analyze the effect of macroeconomic factors as measured by the rate
of inflation, interest rates, gross domestic product and the value of the currency and financial
performance factors measured by financial ratios and cash flow ratios either simultaneously or partially
in the formation of corporate bankruptcy prediction models, to analyze the effect of the variable cash
flow in the formation of corporate bankruptcy prediction models simultaneously and to analyze the
accuracy of the company's bankruptcy prediction models based on the models of 3 years, 2 years and 1
year before bankruptcy prediction. The purpose of this research is based on the monetary crisis events
that occurred in 1997 when many companies went bankruptcy, many companies in Indonesia roomates
has a debt to equity ratio (DER) is greater than one (1) show that the company has a chance more Likely
to go bankruptcy and disagree from some of previous research that cash flow should variables included
in the formation of bankruptcy prediction models. To Achieve the goals of research, researcher make a
macroeconomic hypothesis testing using the data obtained from Bank Indonesia and the value of
financial ratios and cash flow ratios obtained from IDX and ICMD. By using purposive sampling method
in this research, the research sample was contained of 63 companies 34 companies that are not a
bankrupt company and 29 companies are a bankrupt company. The companies are listed in BEI for all
sectors except the financial sector with the observation period 1999-2010. In this research the
hypothesis testing using logistic regression and the accuracy of bankruptcy prediction models using
neural network testing. The results of these tests are simultaneously macroeconomic factors measured
by the rate of inflation, interest rates, gross domestic product and the value of the currency and
financial performance factors measured by financial ratios and cash flow ratios give effect to the
establishment of a prediction of corporate bankruptcy prediction models with the accuracy of prediction
models for high bankruptcy 3 years, 2 years and 1 year before the bankruptcy and in cash flow variables
simultaneously provide a strong enough influence in the formation of corporate bankruptcy prediction
models. Factors only partially financial performance measured by financial ratios and cash flow ratios
that give effect to the establishment of corporate bankruptcy prediction models with the accuracy of a
company's bankruptcy prediction model of high for model 3 years, 2 years and 1 year before the
bankruptcy. Thus, companies need to pay attention to macroeconomic factors, financial ratios, and in
particular the cash flow ratios to avoid company from bankruptcy.
Keywords: bankruptcy models, macroeconomic factors, financial ratios, cash flow ratios.
INTRODUCTION
In 1997 there has been a financial crisis that led to fall in the currency is very sharp, it is because Bank
Indonesia changed its floating exchange rate system into a system of freely floating exchange rates.
With a free floating exchange rate system then creates uncertainty value of the Rupiah against the U.S.
dollar, causing a public panic both employers and not (Tarmidi, 1999; Boediono, 2009).
As a result of the stampede is the weakening of the rupiah, rupiah exchange rate in order not to weaken
the government's tightening monetary policy by interest rate increases greater than the rate of inflation,
it can be seen that in 1998 the SBI interest rate period of one month can reach 70% per annum and the
interest rate on bank deposits is higher than the rate SBI (Boediono, 2009).
With the increase in the interest rate raises hike lending rates for business loans and consumer loans.
The effect of an increase in mortgage interest rates are felt in the real sector due to rising interest rate,
it can increase the cost of capital is interest loans to companies engaged in the real sector (Yudanto &
Santoso, 1998).
The currency also leads to inflation because the cost of capital and the cost of production increases, the
firm tends to increase the selling price of the product. The increase in selling price which is not
supported by the community's ability to absorb these products because of the low purchasing power led
to the number of products sold does not become more and more so that the company suffered losses.
Loss suffered by the company, if not offset by additional capital injections from the owner will cause
negative equity condition (Yudanto & Santoso, 1998). The condition of negative equity can lead to
bankruptcy of business (Suroso, 2006).
In addition to monetary crisis in 1997, the policy of the use of debt to fund the company being taken by
the company may also impact the survival of the company. Policy on the use of debt a company can be
seen from the value of DER (Debt to Equity Ratio). DER is a ratio that shows the comparison between the
debt held by the company with the capital (equity) company. DER values greater than 1 (one) indicates
that the use of the funds used for operating activities of the company to use more debt than equity
capital that the company must bear the cost of capital that is great interest and default risks that arise
will also be greater if the company can not generate the revenue to cover the capital costs to be
incurred (time interest earned ratio is small) and even the company can bankrupt a business, but when
the time interest earned ratio is large in which the value opinion is greater than the cost of capital in this
interest on the loan even though the value of DER> 1 the company can avoid bankruptcy business
problem (Gitman, 2009).
By looking at the economic conditions that have occurred in Indonesia unexpected economic crisis
making companies in the Indonesia Stock Exchange and other corporate experience instability in running
the business and some even went bankrupt due to the crisis, many companies that have a value of DER
(Debt to Equity Ratio) greater than 1 (one) to the value of the ratio of the small-time interest earned
(EBIT
i{i{il$li, f i r'(rs,.
tt"'$$}u'n
$
,i,r;
ffiffi&
sJe$llas sr*lslYA
il /W \fr
r
&
L
il Mil M I
Y
t
x
I
'
I
{
"{
U t lI
I
}t
U
s(
I
W
d{,fr
{
}
rw
-1{4
",Y't. .{$.\ 1{.$
tt"
-sr
fi il ts
1$ $
kd
I.
(lAAl
{\fr
rS. #"."n
$h
d
1
)D
1-
W
{$ AASBI
Mftl*
s!l&lit@
i{ffi
I
PROCEEDING
THE lOth INTERNATIONAL ANNUAL SYMPOSIUM
ON MANAGEMENT
CHALLENGES AND
OPPORTUNITIES OF THE
LEADING EDGE IN WORTD CLASS
SUPPLY CHAIN MANAGEMENT
Bali, March 16rh,20L3
Department Of Management
Faculty of Business and Economics
Universitas Surbaya
Proceeding
The 10th UBAYA International Annual Symposium on
Management
CHALLENGES AND OPPORTUNITIES OF THE LEADING
EDGE IN WORLD CLASS SIJPPLY CHAIN MANAGEMENT
Editors:
Werner R. Murhadi, Dr
Prita A1u, MM
Reviewers:
Candra S. Chayadi, Ph.D. (School of Business, Eastern Illinois
University)
Dudy Anandya, Dr (Universitas Surabaya)
Joniarto Parung, Ph.D, Prof. (Universitas Surabaya)
Ning Gao, Ph.D. (Manchester Business School)
Wahyu Soedarmono, Ph.D. (Research Analyst, The World Bank,
Jakarla)
Yuanto Kusnadi, Ph.D. (City of Hongkong University)
Published by:
Department of Management, faculty of Business & Economics
Universitas Surabaya
Jl. Raya Kalirungkut
Surabaya, Indonesia 60293
Phone : +62-31-2981139
Fax
ISBN:
: +62-31-2981239
91 B-97
9-99365-7 -8
Copyright O 2013 Department of Management, faculty of Business
& Economics, Universitas Surabaya
1OtI,
ENNUAI' SYMP
UBAYA INTENNETIONAT'
FORE,WORD
for
10th
Th"
coinpilation of- papers submitted
This oroceeding is a's,-p,irrrrn
on Nlanagement rlnsltnrr condtrcted
Annual
lnternational
by
Faculty if
the Department of H't*n'-nt'tr"nt'
svmposium is Challenges and
Universitas Surabaya #tl;#il:1"
"iir"
Supply Chain
of the L""Ji'g Edge in rVorid Class
Business and Economlcs'
Opportunities
N'Ianagement.
to
In this opportunity, we would like
share our gratefr-rl
to the institutions
il;',i ; 0...,, : l:^:: I,i i,: j, nl! #[. ":.::;[.,ii tiffi 'ilI:
tJ:lll:lH,
und highlr chalrensing arrd
(Nationalandabroad)*t'o'"ntltheirlecturerorresearchertooursyinposlum'
?L:l=;:"
opporiuniriet
repre\cnts,
'n ''"'-'ing ol the most signiiicant
rrer oI re:clrch rtnd prucl'icc Onethat individual business no
manag:.Tent is
paradigm shitts ot modern business
iongercompeteassolelyautono]noLlsentities.butratherasstipplychains.
.*, oi.,ernetwork competition' In this
Business
-un.=.n.ni';'i, #;.;;',r-r.
emergingcompetrti"ee*'i.o","*lther-rltimatesuccessofthesinglebusiness
the company's intricate
to
depend on
'"n[trn#'
nerwork of b,siness .J""i,"^r'ntrr.
will
t'r'ility -inteErate
irr""rpprv ch-ain is not a chain of businesses
multiple
reiaiionsnips' bllt a net\\'ork of
excellence
process
business
Jeals *ith total
with
business and relationsil+r.icnn
ro"nogt-n the business and relationships
with one-to-o"'
Uu'inJ"-io-t)i'i'""
nt'''J"y ui
chain Management
the ,rpprl chairi. s,lc,-'essful supply
of
other members
The challenge is
,-,-,u*. qlul.u
:11'.1,]-,t^"1"
requires cross-runctioi"i'ii"ls"il"'
this integlatlon'
ancl represen" o
accornplish
to cletermine how to stlccessfitlly
view from
to-sether clift'erent points of
This symposium aims to bring government.
and^international
"s"ngil various ideas and
academics. business practitioners,
goal to share ancl drsieminate
institutions lvith the oiurri"t"
practices in Suppi,v Chain Management'
of papers' t"'--l5-'f^':T a,conceptual
Final1y. we hope.that this compilation
chain
;;;;h: can enrich our perspectir,e in..supply
.*o,r,.'ii
"n
managementonait'oppfitationincreatinghigherlevelofcompetltl\leness'
work ro
Ba1i.
-8
tSSN SZA-eZ 9'99365-7
'
Mruch 16'r'' 20 13
1r1
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
TABLE OF CONTENTS
FOREWORD
TABLE OF CONTENTS
1.
THE EFFECT OF FINANCIAL RATIOS TO STOCK PRICE IN
SEVERAL COMPANIES LISTED IN SzuKEIIATI GROTIP IN
INDONESIA STOCK EXCHANGE
Rosemarie Sutjiati
2.
Njotoprajitno
-
HIERARCHICAL INNOVATION MODEL DEVELOPMENT IN
INDONESIAN PHARMACEUTICAL INDUSTRI
Syuhada
J.
Sufian.
PLACEMENT EtrFECTIVENESS
:
OF AUTOMATIC TELLER
MACHINE ON INDONESIAN PRIVATE BANKING
Victor Wianto, Agus Zainul
4.
5.
Arifin
FACTORS INFLI.IENCING THE SUPPLY CHAIN PERFORMANCE
(A STUDY OF MANT]FACTURING FIRMS IN INDONESIA)
Lina Anatan.
CONSUMER BEHAVIOR AND INDONESIAN VALUES SCALE:
VALIDATION AND SHORT-FORM SCALE DEVELOPMENT
Sabrina O. Sihombing
6.
CONTRASTING REFLECTIVE AND FORMATIVE MODELS ON ESERVICE QUALITY: AN EMPIRICAL STUDY
Jessica Adelaide Gusti, Sabrina O. Sihombing.......
7.
T}IE PREDICTIVE MODEL OF RELATIONSHIP BETWEEN ROLE
STRESS, PERSONALITY, AND SALES PERFORMANCE IN
SERVICES MARKETING
Verina H. Secapramana....
ISBN : 978-979-99365-7 -B
Ji;
_:
:
MANAGEMENT
l0th UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON
EFFECT OF COMPETENCE' TRAINING, MOTIVATION
THIESS
8.
Ertrplovgg PERFoRMANCE, AGAINST PT
CONTRACTORS INDONESIA AT BALIKPAPAN
Didik HadiYatno. Misna Ariani'
POLICY INTEGRATION FOR HOUSEHOLD
9.
WASTE
MANAGEME,NTTHROUGHESTABLISHMENTOFWASTE'BANK
Etty Soesiloivati, Sri Utamt'
10.
THE,ROLEOFE,VENTSPONSORSHIPINPROMOTINGTOURIST
ENTHUSIASM (STUDIES IN SE,MARANGGREAT SALE' E\'ENT)
Yudi Pramudiana, Arinda Ike
I
t.
Wardhani
10
'
DEVELOPINGACONCEPTLIALMODELoFF{OTEL,SNETWORK
oFBUSINESSRELATIONSHIPSINTHEHOTELINDUSTRY:THE
CASE OF HOTELS IN BALI. INDONE,SIA
il
Nyoman lndah Kusuma Dervi'
12.
TFIEEXISTINGMODELIDENTITICATIONoFCUCURBITASp
(YELLOW PLMPKIN) AGRO INDUSTRY SUPPLY CHAIN
I,TEXICEUTNTINGETASANSUB-DISTRICT.SE'MAR-{NG
REGENCY
Hantoro'
egurtin" Eva Maria Soekesi. Meniek Srining Prapti' lnneke
l3
Alberta Rika Pratiwi.
r3.
IN
THE ANALYSIS OF INTERNAL AND EXTERNAL FACTORS
FoRMULATINGCOMPETITIVESTRATEGIESoNSKULL-CAP
AND TAMBOURINE INDUSTRIES IN BUNGAH VILLAGE
GRESIK
Sri Setyo Irjani, Monika Tiarawati
14.
t5.
15
'
MOTIVATIONALFACTORS.ENTREPRENEI]RSHIP.ETHNICITY,
THE BLOK
AND PARENTAL BACKGROLND: EVIDENCE FROM
INDONESIA
JAKARTA,
CENTE,R,
M SQUARE, E,LE,CTRONIC
egurig Wahlu Handaru, Widya Parimita, Inna Hadza Sabila
(TQM)
THE INFLUENCE OF TOTAL QUALITY MANAGEMENT
KE,RE,TA API
PT.
AT
RAISING
SALE,S
TO
APPLICATIONS
t@i*""i"}111"!w?*frr----*-
iisN'eza-s79-9s365-7-8
rq18
v
11
I.OThUBAYAINTERNATIONALANNUALSYMPOSIUMONMANAGEME\I
INDONESIA (PERSERO) BANDI.NG THE
2ND
OPE.RATIONS ARE 1
R. Ait Novatiani, Pondang
t6.
INFLTIENCE OF PARTNERSHIP SRATEGIC TO PERFORMANCE
OF PRIVATE COLLEGE IN BANDIJ]'{G
Dini Arwati. Dini Verdania...................
r7.
EF'FECT
OF RELATIONAL QUALITY AND ENTREPRENEUR
OzuENTATION TOWARD FRANCHISEE PERFORMANCE I\
INDONESIA
Lim
18.
Sanny.
IN SI.IPPLIER AND TRUST IN BRAND ON
THE PURCHASE AND ATTITUDINAL T,OYALTY FOR RETAILER
AT PT SINAR SOSRO IN SURABAYA
INF'LLTENCE OF TRUST
Christina Esti Susanti......
r9.
EF'FECT CAPITAL ADEQUANCY RATIO (CAR) AND NON
PERFORMING LOAN (NPL) ON RETURN ON ASSET (ROA)
BANKING IN INDONESIA (SURVEY ON INDONESIA STOCK
EXCHANGE /IDX)
Rima Rachmawati, Priska Amelia.
20.
A
PROJECT OF IMPROVEMENT ON T}IE
DESIGN OF JOBSAVORKS FOR PROFESSIONAL WORKE,RS AT
PT. BI.]KIT BATIJBARA TBK - TFIE YEAR OF 2OIII2O12 WITH
RECOMMENDATION: IMPLEMENTATION OF A CONTRIBLIOR
CASE STUDY:
MODEL
IN
CAREER MANAGEMENT FOR PROFESSIONAL
WORKERS
T. Soemarman
21.
I
I
I
I
I
t
IMPACT OF INTELLECTUAL CAPITAL ON THE FIRM'S
MARKET VALUE: TFIE MEDIATION ROLE OF' FINANCIAL
PERFORMANCE (E,MPIzuCAL STUDY FROM T}IE INDONESIAN
BANKING COMPANIES SINCE 2001 -201 l)
Sri Harryani, Bagus Nurcahyo, Renny Nur'aini..
ISBN:978-979-99365-7-8
vi
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
22.
THE EFFECT OF ECONOMIC GROWTH ON THE NLMBER OF
POOR PEOPLE IN INDONESIA. PERIOD 1994-2010
Sugianiningsih
23.
28
CLUSTER BUSINESS DEVELOPMENT AT THE NTICRO. SMALL
AND MEDILM ENTERPRISES
Wasifah Hanim
).1
L+
29
PRODUCT QUALITY CONTROL PROFILE ON LASEM BATIK
CENTRE
A-tustine Eva Maria Soekesi.
25.
BETTER INVESTMENT CHOICE IN CRISIS AND AFTER CRISIS:
STOCK VERSUS GOLD
26.
21.
Eka Darmadi Lim, Liliana Inggrit Wijaya.
32
CAN INNOVATION OF TIME DRIVEN ABC SYSTEM REPLACE
CONVENTIONAL ABC SYSTEM?
Tan Ming Kuang.
JJ
COST EFFECTIVENESS ANALYSIS OF DIURETICS TI{ERAPY
FOR ASCITES IN HEPATIC CIRRHOSIS PATIENTS AT ADI
HUSADA UNDAAN WETAN HOSPITAL IN SLRABAYA
Doddy de Queljoe, Amelia Lorensia, Indri purnama Putri
28.
EXAMINING VIRTUAL RECRL]ITING
ENVIRONMENT
FEATURES OF INDONESIA CORPORATE WEB SITE
Yenny Purwati, Rosaly Franksiska. Eristia Lidia Paramita
29.
T}IE EFFECTS OF INTERPERSONAL COMMUNICATION AND
MOTIVATION TO PRODUCTIVITY OF EMPLOYEES AT HOTEL
MULIA JAKARTA
I Gede Adiputra.
30.
THE SURVIVAL OF SMALL RESTAURANTS: MICRO ANALYSIS
OF NON CLASSIFIED RESTALTRANTS IN KUTA SELATAN. BALI
Ida Bagus Made Wiyasha, Ni Luh Suastuti.
ISBN: 978-979-99365-7 -8
38
].Oth
31.
UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEME\]
SUPPLY CHAIN MANAGEMENT: STRATEGY IN INFORMATIO\
TECHNOLOGY TO REDUCE COST
Mey,thi, Riki Martusa
32.
JJ.
EVALUATING TFIE FINANCIAL PERFORMANCE USING THE
GROWTH OF EPS, CFO, AND EVA AND TFIEIR IMPACT TO T}tr
STOCK RETURN OF LISTED TELECOMMUNICATIO\
INDUSTRY IN BEI
Suskim Riantani, Harry Setyo Negoro, Alfiah Hasanah
EFFECT OF APPLICATION CORPORATE SOCIAI
ON IMAGE PI
ANTAM LINIT
RESPONSIBILITY
PASCATAMBANG KIJANG
Sutama Wisnu D, Budi Astuti.
34.
LEADERSHIP AND FIVE STAGE MODEL OF ORGANIZATION
GROWTHAT UD "RAMA JAYA"
May Eka Saputri, Liliana Inggrit Wijaya.
35.
VALI,'E CHAIN CONCEPT ON STRATEGIC CSR PROGRAM: A
CASE STI,IDY OF MARTHA TILAAR GROI,P
Dianne Frisko.
36.
DEtrINE THE CRITERIA TO IDENTIFY CORE AND NON.CORE
ACTIVITIES TO
LEVERAGE TT{E COMPANY'S
STRENGTMNING THE
COMPETIITIVENESS AND
PARTNERSHIP WITH OT}IERS
Alain Widjanarka...
37.
DETERMINANTS OF T}IE DECISION
MUTUAL FTINDS IN INDONESIA
TO BUY AND
SELL
Irene Rini Demi Pangestuti............
38.
A COMPARATIVE STUDY ON RETURN STOCKS BETWEEN
VALI.IE STOCKS AND GROWTH STOCKS IN THE GO PUBLIC
COMPANIES
AT THE INDONESIAN STOCK
(PERTOD OF 2006-2010)
Panji Aditya Evindo, Nadia Asandimitra Haryono.........
ISBN: 978-979 -99365-7 -8
EXCIIANGE
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
39.
FOREIGN DIRECT INVESTMENT
T}IE CHINA EFFECT EXIST?
IN ASEAN.
1994-2010: DOES
Yulius Pratomo
40.
48
TTM RELATIONSHIP BETWEEN THE LEVEL OF T}IE USE OF
ERP SYSTEM, SCM,STRATEGIC ALIGNMENT.AND
FIRM
PERFORMANCE USING BALANCED SCORECARD APPROACH
Weli Imbri...
41.
49
INTERNAL AUDIT QUALITY ROLE IN IMPROVING
EFFECTIVENESS OF QUALITY MANAGEMENT SYSTEM ISO
9001:2000 (Case Study PT INTI Bandung)
Christine Dwi K.S., Sondang M.R., Adriana Oktarina Sembiring
/1)
50
THE IMPACT OF RELATED PARTIES' TRANSACTIONS TO
MARKET VALUATION OF FIRMS
52
43.
TRANSITION OF IFRS IN INDONESIA: FINANCIAL POSITION,
FINANCIAL PERFORMANCE AND KEY FINANCIAL
INDICATORS EFFECTS
Stephanie Susilo, Felizia Arni Rudiawarni....
44.
53
INFLI,ENCE OF JOB MOTIVATION AND JOB SATISFACTION ON
EMPLOYEE PERFORMANCE IN ASURANSI JIWA BERSAMA
(AJB) BLTN4IPUTERA 1912 SLRABAYA REGIONAL OFFICE
Agus Frianto, Ayu Septirini.... . ...
45.
55
INNOVATION SUCCESS IN SMALL BUSINESS CONTEXT: AN
EMPIRICAL EVIDENT FROM INDONESIA
Aluisius Hery Pratono, Suyanto.
46.
56
FACTORS INFLUENCE INDONESIAN YOIING CONS{-A4ERS'
ONLINE PI.]RCHASE INTENTION IN SOCIAL MEDIA WEBSITES
Levina Rolanda 1jia, Christina R. Honantha.......
41.
51
CAREER DEVELOPMENT OF CREATIVITY REVIEWED. AND
COURAGE IN BUSINESS INNOVATIVE MTLTI-LEVEL
ISBN: 978-979 -99365-7 -8
ix
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEME\I
MARKETING (MLM) DISTRIBUTOR OzuFLAME DENPASAR
Luh Kadek Budi Martini
48.
ANALYSIS OF THE MACRO ECONOMIC INFLUENCE FACTORS
FINANCIAL AND PERFORMANCE COMPANY TO BI.IILD {
MODEL PREDICTION BANKRUPTCY (STI]DY AT
LISTED
COMPANIES IN IDX FOR YEAR 1999-2010)
M. Sienly Veronica.
49.
EARNINGS MANAGEMENT TREND TOWARD COAL COMPAN\
IN TFIE. INDONESIA STOCK EXCHANGE WHICH
EXPECTED TO BANKRUPTCY BY USE THE ALTMAN Z-SCORE
LISTED
MODEL, SPRINGATE MODEL AND ZMIWISKY MODEL
I\
PERIOD 2009-2011
Suciaty Debora Ridwan, M.Sienly Veronica.
50.
FIRM CHARACTERISTICS, INTELLECTUAL CAPITAL, AND
ENVIRONMENTAL PERFORMANCE (EMPIRICAL EVIDENCE
FROM LISTED COMPANIES IN INDONESIA)
Ni Wa,van Rustiarini.
51.
IMPROVING COMPANY'S COMPE,TITIVE ADVANTAGES BY
IDENTIFYING WASTE IN THE PRODUCTION PROCESS CASE
STUDY AT WATOETOELIS SUGAR MANUFACTI-]RER IN
SIDOARJO
52.
GAUGING TF{E, FINANCIAL PERFORMANCE OF BANKING
USING CAMEL MODEL: TI{E PROSPECT OF ISLAMIC BANK IN
INDONESIA ACCORDING TO PUBLIC TRUST COMPARED WITH
CONVENTIONAL BANK
Yohanna Handjaja, Deddy Marciano, Liliana Inggrit Wijaya
53.
INFLI-,,ENCE OF MANAGEMENT PERFORMANCE AND
INTELLECTUAL CAPITALTOWARD TFIE FIRM VALUE
T}IE
Agus Wahl.udi Salasa Gama, Ni Wayan Eka Mitariani.....
ISBN: 978-979 -99365'7 -B
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
54.
TFIE ROLE OF POWER AND CONFLICT RESOLUTION IN
SUPPLY CHAIN RELATIONSHIPS: SMALL AND MEDIT]M-SIZED
ENTERPzuSES CONTEXT
Amak Mohamad Yaqoub, Indri Apriani Rahma Pratama.
..
55.
T}IE
INFLTIENCE
STRATEGIES
ON
OF
PROSPECTOR
PERFORMANCE
AND
61
DEFENDER
WITH DIMENSIONS
OF
SOCIAL CAPITAL AS MODERATING VARIABLES
Bambang Suko Priyono
s6.
68
ACTIVITY PERFORMANCE ANALYSIS OF SI.IPPLY CHAIN
PERFORMANCE OF ACTIVITY MODEL APPROACH STUDY AT
UKM KRIPIK BUAH KEBONSARI
Choirum Rindah Istiqaroh, Saraswati Budi Utamj.....
69
57.
T}IE INFLIIENCE OF FINANCIAL
PERFORMANCE {EPS
(EARNING PER SHARE), PER (PzuCE EQI,IITY) AND ROA
(RETI.]RN ON ASSETS)} TO SHARE PRICE INDEX EARNING
RATrO), DPR (DEVTDENT pAyOUT RATrO), ROE (RETURN ON
EQUTTY) AND ROA (RETURN ON ASSETS)] TO SHARE pRrCE
INDEX
1t
Dheo Rimbano, Sardiyo, Maulana.
58.
THE RELEVANCY OF USING WEBSITE FOR PROMOTING
FIEALTH CARE PRODUCT AND SERVICES
Edo Sri Harsanto, Naafilah Lailatirrohmah.
59.
EMOTIONAL ATTACHMENT
RELATIONSHIP BETWEEN
EMOTIONAL BRAND
Rendy May Fandi, Efendi.....
60.
...
...
....
...
t-)
AS A MEDIATOR OF THE
SERVICE QUALITY AND
t4
MALMI AND BROWN'S MANAGEMENT CONTROL SYSTEM IN
PRODUCTION AREA: A CASE STUDY IN PT DS STIRABAYA
Fandy San Kartawidjaja, Fidelis Arastyo Andono.....
61.
15
TT{E EFtrECT OF FINANCIAL CONDITION. THE FAILURE OF
DEBT RATIO, FIRM SIZE AND PI.]BLIC ACCOLNTING
ISBN : 978-979-99365-7 -B
xl
IOtI,UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
REPUTATION ON ACCEPTANCE OF GOING CONCERN OPINION
Hendro Lr-rkman, Stevanus Adree Cipto Setiawan.......
62.
EFFECT OF INVESTMENT OPPORTUNITY SET ON CASH
DIVIDEND POLICY WITH AVERAGE OF SALES GROWTH ON
EVERY LIFE CYCLE AS A MODER{TING VAzuABLE (STUDIES
ON MANUFACTURING COMPANIES IN INDONESIA STOCK
EXCHANGE)
I Dewa Made Endiana.
63.
THE EFFECT OF ACE. LEVEL OF EDUCATION. AUDITORS
WORK EXPERIENCE AND TYPE OF BUSINESS CLIENT ON THE
AUDIT DELAY PUBLIC ACCOLINTANT IN BALI
I Gede Cahyadi Putra..
GOOGLE SEARCH TRAFFIC AND IT'S INFLLIENCE ON RETURN.
LIQUIDITY AND VOLATILITY OF STOCK RETLRN EMPIzuCAL
STUDY: MANUFACTUzuNG FIRMS IN INDONESIA STOCK
EXCTLANGE
Berto Usman. Eduardus Tandelilin.
65.
PENETRATING INDONESIAN BANK ASSURANCE MARKET:
STRATEGIC MANAGEMENT.
INDONESIA STYLE
PT. ASLIRANSI
CIGNA
Suresh Kumar. Randy Prasetyo.
66.
COLLABORATION STR{TEGY ON INDLTSTRIAL CLUSTER (TFM
NEW STRATEGY OF THE NEW ERA)
Noviaty Kresna Darmasetiau an. . .. .
67.
.
FISH DISTRIBUTION SYSTEM DESIGN (CASE STUDY: FISH
AUCTION PLACE SIDOARJO)
Verani Hartati, Wiwik Sulistivowati
68.
SE,LF-CONCEPT AND SELF'-EFFICACY FOR BLIILDING AN
ACADEMIC PE.RFORMANCE : SISTEMATIC REVIEW APPROACH
Jun Surjanti. Dwiarko Nr-rgrohoseno, Sanaji.
ISBN: 978-979 -99365-7 -8
lOth UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
69.
TOTAL QUALITY MANAGEMENT IN EDUCATION (TQME):
PROSPECiIVE STRATEGY FOR HIGHER EDUCATION
INSTITUTION
Ratna Widiastuti'....
70.
84
THE ROLE OF ENVIRONMENTAL TNCERTAINTY AND
IMPLEMENTATION SI.JPPLY CHAIN F'OR INCREASING
COMPETITIVEADVANTAGEMANI,IFACTURINGINDUSTRIES
IN EAST JAVA
Sahnaz
'71.
ljbud..
INCREASING WHOLESALE CE.NTERS ROLE AS PART OF
SUPPLY CHAIN MANAGEMENT OF SME,S
Kabul Wahyu Utomo, Ludwina Harahap, Lely Dahlia"
'72.
COLLECTIVE ENTREPRENEURSHIP
PATTERNSFOR COOPERATIVE
KULONPROGO RE,GE,NCY,
Lely Dahlia.
73.
'
86
PARADIGM AS A
DEVELOPMENT IN
201 3
8'7
T}IEEVALUATIONoFUSINGIMPoRTANCEPERFORMANCE
ANALYSIS (IPA) TO DESIGN SERVICE EXCELENCE PROGRAM
Mudiantono, Rizal Hari
74.
85
Magnadi.
'
89
IMPROVEMENT BANK CUSTOMER SATISFACTION WITH
SERVICE QUALITY ABSTRACT
Yeuy Dwi
15.
Listari.
90
STRATEGIESToIMPLE,MENTTFIECHANGESINT}IEBASISoF
CASH TRANSFER FROM A HOUSE,HOLD-BASE TO A FAMILYBASE: THE CASE OF PKH IN INDONESIA
9l
Muhammad Nashihin.
76,
CORPORATE GoVE,RNANCE, SUSTAINABILITY, AND ISLAMIC
BANKING PERFORMANCE
Rohmawati Kusumaningtias" "
iSBN : 978-97 9-99365-7 -B
92
'
xlll
l0th UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEME\:
77.
TFM ROLE OF INSURANCE AGREEMENT AS PART OF RISI\
MANAGEMENT IN INDONESIAN BUSINESS ACTIVITY
Aris Armuninggar...
18.
THE IMPACT OF THE USE OF OUTSOURCING EMPLOYEE
AGAINST PRODUCTIVITY COMPANIES IN PT.PINDAD
BANDLNG
Sri Wiludjeng S. P., Muhammad Madyosa Ibrahim...
79.
80.
SUSTAINABLE BUSINESS INNOVATION TO WIN T}IE
COMPETITION A CASE STUDY OF INNOVATION BY WAYAN I\
BI,ILLFROG FARMING IN BALI
Liliana Inggrit Widjaya, Dudi Anandya, Fitri Novika Wijaya
SYSTEMATIC RISK AS MODERATOR OR MEDIATOR OF THE
INFLUENCE BETWEEN MACROECONOMIC FUNDAMENTAL
FACTORS AND STOCK RETI]RN
Yeye Susilowati.......
81.
MANAGING GLOBAL BUSINESS BY MINIMIZING THE EFFECTS
OF RUPIAH'S
VOLATILITY
Christina Yanita Setyawati.
82.
THE PE,RCEPTION OF ADOPTING AN
INFORMATION
TECHNOLOGY INNOVATION ON THE RURAL BANKS
OWNED BY LOCAL GOVERNMENT
Elen Puspitasari, Ceacilia Srimindarti.
83.
MODEL APPLICATION SERVICE LEVEL WITH SERVICE UNITS
PER DEMANDED TYPE ON GRESIK CEMENT AND TONASA
CEMENT STOCKS IN UD ''TJ'' DALLING-DENPASAR-BALI
Pertiwi Surya Negara, Juliani Dyah Tresnawati,
Budhiman Setyawan.
84.
THE, EFtrECTIVENESS OF INDEPENDENT COMMISSIONER IN
IMPLEMENTING GOOD CORPORATE GOVERNANCE AT
INDONESIAN STATE-OWNED ENTERPRISES
Synthia A. Sari.
ISBN: 978-979-99365-7 -8
XIV
ON MANAGEMENT
lOth UBAYA INTERNATIONAL ANNUAL.SYMPOSIUM
@
85.
AND
INDONESIAN READERS' MOTIVATIONS
ATTITUDE
TOWARDS DIGITAL PRESS
101
Anandya' Indarini
Ct-,rlstlna Rahardja Honantha, Dudi
86.
87.
88.
OVERSEAS COMPANIES
MANAGEMENT STYLE OF CHINESE
AND INDONESIA COMPANIES
Yie Ke Feliana.
102
ANALYSIS
IMPLEMENTATION OF VALI.]E CHAIN
IN
THE
SROII-EN STIPPLY CHAIN AGRIBUSSINESS
Rini Oktavera, Erna Andjani'
103
VOTING AND CASH
IMPACT OF DIVERGE,NCE BETWEEN
OWNERSHIP IN
ppnOUANCE:
ULTIMATE
FLOW RIGHTS OX
INDONESIA
105
I Putu Sugiartha Sanjaya'
89.
ENGINEERING
ACTIVITY COMPLAINT HANDLING TTIE
& SIIITES
HOTEL
OEPENTT',TENT NOVOTEL SIIRABAYA
Anita Wongso, Fitri Novika
90.
Widjaja'
"
106
ANALYSIS IN BUSINESS
IMPLEMENTATION OF FIVE FORCES
drinr Up: GASE srirDY oF HE'RY
107
KARYA MEDIA'
IMPACT OF ACQUISITION OF PT. INDOSIAR
TBK
isK sv pr. ELANG MAHKoTA TEKNoLoGI'
r08
FARM
Maria Assumpta Evi Marlina'
91.
Kazia Laturette......
92.
(BI RATE) ON
TTIE INFLTIE,NCE OF MONETARY POLICY
INDoNESIA
IN
BANKS
piornnsrt-lTY oF coMMERcIAL
Lia Amaliawiati, Edi
93.
Winarso"
110
INSOURCING? AN EMPIzuCAL
OPERATION AT "NH
CATERING
INVESTIGATION TON
OUTSOURCING
OR
eqTQnH,' BUSINESS trIRM,
SURABAYA
fiz
H. JohnY RusdiYanto'
ffi.. r?&r?r'iszos't'e
xv
1
Oth U
BAYA INTERN4TI9...
LOANS
THAT INFLUENCED- ]JJNDICATED
PERIOD 2006-2010
npr-rSToNS IN rrIE asilxiiivenftm
Marciano'
ffi;.#r-A;in sunaono' DeddY
94.
FACTORS
95.
,.PruCINC
AND FRENCH
THE APPLICATION
"eNP OF FAMAAssEr
I
THREE. FACTORS
cAPlrAL
ri&rii
i*"r"o"G t, o N
Mudji Utami
sT
oc K
E
MODEL
AT
x c I-IANG E
QUALTTY ANI)
"io cusroMER
ITIJ}CE L,YALTY oF
TFIE EFFECTS OF LOGISTICS
IN
ro''"oEi6'N
cusroMER
ix'nesr FooD RESTAURANTS
96.
DELTvERv oDER
sEi\'ii;
SURABAYA
JulianiDyahTrisnawatr'VenyMegawati'PritaAyu
Kusumawardhany"
"
CAPITALSTRUCTURE
TRADE-OFF -EUSTXE-SS
T}iE STUDY OF DYNAMIC
TT'
NONFINAi
-ENTITIES
T}IE
EXISTE,NCE TO
DUNNG PERIOD
iiCUANCE
STOCK
INDONESIA
9'7.
LISTED ON
200'7
-201r
Werner R. Murhadi"
Endang Ernawati'
98.
PROCEDURAL
AND VALIDATION OF
SCALE DEVELOPMENT
JUSTICE CLIMATF:
Joseph L. Eko Nugtoho' ' " "
S9.
"
- SE'JATI
IN PT MENTARI
I
ll
PERKAsA tMSPr suRABAYA ^
:l^'
:',.;;'
I
pit'i N-oiitu^ lntt'ony Soenardi Sudartan
LOGISTIC SERVICE QUALITY
Siti Rahaynr'
100.
ACCEPTANCFIKOMMUTER
PERCEPTION OF
''RABAYA
cHoIcE oN
TRAIN SIDOARIo-
ALTERNATI,E
io wonx .'pietr aswIrH
PLANNED
';;;;c^
'ibuii 1n'q'xsponrluox
:
rtr*-.. .. a7
IJEn]e.vrvr\
BEHAVIORTHEORY
A-r^
\z ^^-.
A*tonri
-^.. Artantl'
"lolri ^*"rtt, Nindria Untarini'
' " " ' " "'
Yessy
COMPANIES CAPITAL
..iECTON"
AFFECTING
101. THE FACTORS
-TP OFiX,'}'M
INFRASTRUCTURE.
STRUCTURE
xvl
ffiffig-sz
s'se36s-7'8
],Oth
UBAYA INTERNATIONAL
ANNI]4! .!I\4Y. *.:I
ON INDONESIA
UTILITIES, AND TRANSPORTATION LISTED
2006'2010
STOCK EXCHANGE, DUzuNG PERIOD
gndang
Ernawati"
'" '
Julius Irianto aunu*ulr,
'
121
AND COMPETENCY TO
IO2. ANALYSIS EFFECT OF INCENTIVE
AT SMART
THE WORKTNC PPNTORMANCE, OF EMPLOYEES
MANAGEMENT CONSI]LTANT PALEMBANG
Maulana,
122
SardiYo.
CAPITAL
103. ANALYSIS OF FACTORS THAT INFLTIENCE'
STRUCTUREANDTESTDIF.FERENTCAPITALSTRUCTUREIN
(FC) AND NON FINANCIALLY
FINANCIALLY CONSTRAINED
STUDY MANIJFACTI]RING
(CASE,
TXTCI
CONSTRAINEO
COMPANYINTIIESTOCKEXCHANGEoNT}IEPERIODFROM
2007 TO 2009)
Siti Puryandani, Dewi Mayasari"""
104. REVEALING THE PREFERE,NCES
124
IN
CONVEYING PzuCE
INFORMATION
t25
Budhi PurwandaYa, Eko Kusmurtanto
1O5.EF'FECTIVENESSOFITGOVE,RNANCEINBANKINGSECTOR
Aris Budi
Samuel David Lee, Pandam Rukmi Wuiandari'
126
Setvawan....
IN THE EtrFECT OF GOOD
CORPORATEGOVERNENCEONCoRPORATEPERFORMANCE
Renny Nur'ainy
Andrea Widianti t'l*i', S*"i David Lee'
106. THE ROLE OF LEVERAGE,
12'7
MARKET
107. COMPETITIVE BUSINESS ENVIRONMENT'
AND
ORIENTATION, STRATEGIC OzuENTATION
ON SMALL AND
PERFORMAXC; OT'SMES (EMPIRICAL STUDY
MEDIIA4 INDUSTzuES PEKANBARU CITY)
1aQ
Susi Hendriani, Machasin, Budi Trianto
THE CHANGES
108. THE EFFECT OF MACRO ECONOMIC TOWARD INDEX
ISLAMIC
OF STOCK PzuCE,INDEX IN JAKARTA
Lely Fera Triani, Etty Puji
B-*-"|q*IqE*-.**,",
T,
estari'
ffiN'.9?&9?s'sgzes-t-a
xvll
130
]-Oth
109.
UBAYA INTERNATIONALANNUAL SYMPOSIUM ON MANAGEMENT
INVESTMENT IN INDONESI
(MACROECONOMIC ASSESSMENT WITH VAR MODEL)
Etty Puji Lestari, Lely Fera Triani.........
DETERMINANTS OF
110. COMMUMCATION EFFECTI\IENESS
PERKASA. SIDOARJO
Elsye Tandelilin, Christina
ISBN r 978-979 -99365-7'B
IN PT. SALIM BROTMRS
https://fbe.ubaya.ac. id
.il*r"]ll1lllMsstM
Department ol Management
Faiutty of Buslness ind Economics
il
Universitas Suratraya
$
Jl. Raya F€litungkut, Swbaya, 8OZg3
Ph: +62 31 agAitaS Fax: +6231 298 {131
*rfiiili lhayain$ym6&flmal-l'*srft i mel1&$eiqqll&$Pffiiur&lbeye'e'ld
T
ANALYSIS OF THE MACRO ECONOMIC Influence Factors FINANCIAL AND PERFORMANCE COMPANY TO
BUILD A MODEL PREDICTION Bankruptcy (STUDY AT LISTED COMPANIES IN IDX FOR YEAR 1999-2010)
Veronica M.Sienly
Maranatha Christian University
Email: lee_pingping@yahoo.com
ABSTRACT
The purpose of this study was to analyze the effect of macroeconomic factors as measured by the rate
of inflation, interest rates, gross domestic product and the value of the currency and financial
performance factors measured by financial ratios and cash flow ratios either simultaneously or partially
in the formation of corporate bankruptcy prediction models, to analyze the effect of the variable cash
flow in the formation of corporate bankruptcy prediction models simultaneously and to analyze the
accuracy of the company's bankruptcy prediction models based on the models of 3 years, 2 years and 1
year before bankruptcy prediction. The purpose of this research is based on the monetary crisis events
that occurred in 1997 when many companies went bankruptcy, many companies in Indonesia roomates
has a debt to equity ratio (DER) is greater than one (1) show that the company has a chance more Likely
to go bankruptcy and disagree from some of previous research that cash flow should variables included
in the formation of bankruptcy prediction models. To Achieve the goals of research, researcher make a
macroeconomic hypothesis testing using the data obtained from Bank Indonesia and the value of
financial ratios and cash flow ratios obtained from IDX and ICMD. By using purposive sampling method
in this research, the research sample was contained of 63 companies 34 companies that are not a
bankrupt company and 29 companies are a bankrupt company. The companies are listed in BEI for all
sectors except the financial sector with the observation period 1999-2010. In this research the
hypothesis testing using logistic regression and the accuracy of bankruptcy prediction models using
neural network testing. The results of these tests are simultaneously macroeconomic factors measured
by the rate of inflation, interest rates, gross domestic product and the value of the currency and
financial performance factors measured by financial ratios and cash flow ratios give effect to the
establishment of a prediction of corporate bankruptcy prediction models with the accuracy of prediction
models for high bankruptcy 3 years, 2 years and 1 year before the bankruptcy and in cash flow variables
simultaneously provide a strong enough influence in the formation of corporate bankruptcy prediction
models. Factors only partially financial performance measured by financial ratios and cash flow ratios
that give effect to the establishment of corporate bankruptcy prediction models with the accuracy of a
company's bankruptcy prediction model of high for model 3 years, 2 years and 1 year before the
bankruptcy. Thus, companies need to pay attention to macroeconomic factors, financial ratios, and in
particular the cash flow ratios to avoid company from bankruptcy.
Keywords: bankruptcy models, macroeconomic factors, financial ratios, cash flow ratios.
INTRODUCTION
In 1997 there has been a financial crisis that led to fall in the currency is very sharp, it is because Bank
Indonesia changed its floating exchange rate system into a system of freely floating exchange rates.
With a free floating exchange rate system then creates uncertainty value of the Rupiah against the U.S.
dollar, causing a public panic both employers and not (Tarmidi, 1999; Boediono, 2009).
As a result of the stampede is the weakening of the rupiah, rupiah exchange rate in order not to weaken
the government's tightening monetary policy by interest rate increases greater than the rate of inflation,
it can be seen that in 1998 the SBI interest rate period of one month can reach 70% per annum and the
interest rate on bank deposits is higher than the rate SBI (Boediono, 2009).
With the increase in the interest rate raises hike lending rates for business loans and consumer loans.
The effect of an increase in mortgage interest rates are felt in the real sector due to rising interest rate,
it can increase the cost of capital is interest loans to companies engaged in the real sector (Yudanto &
Santoso, 1998).
The currency also leads to inflation because the cost of capital and the cost of production increases, the
firm tends to increase the selling price of the product. The increase in selling price which is not
supported by the community's ability to absorb these products because of the low purchasing power led
to the number of products sold does not become more and more so that the company suffered losses.
Loss suffered by the company, if not offset by additional capital injections from the owner will cause
negative equity condition (Yudanto & Santoso, 1998). The condition of negative equity can lead to
bankruptcy of business (Suroso, 2006).
In addition to monetary crisis in 1997, the policy of the use of debt to fund the company being taken by
the company may also impact the survival of the company. Policy on the use of debt a company can be
seen from the value of DER (Debt to Equity Ratio). DER is a ratio that shows the comparison between the
debt held by the company with the capital (equity) company. DER values greater than 1 (one) indicates
that the use of the funds used for operating activities of the company to use more debt than equity
capital that the company must bear the cost of capital that is great interest and default risks that arise
will also be greater if the company can not generate the revenue to cover the capital costs to be
incurred (time interest earned ratio is small) and even the company can bankrupt a business, but when
the time interest earned ratio is large in which the value opinion is greater than the cost of capital in this
interest on the loan even though the value of DER> 1 the company can avoid bankruptcy business
problem (Gitman, 2009).
By looking at the economic conditions that have occurred in Indonesia unexpected economic crisis
making companies in the Indonesia Stock Exchange and other corporate experience instability in running
the business and some even went bankrupt due to the crisis, many companies that have a value of DER
(Debt to Equity Ratio) greater than 1 (one) to the value of the ratio of the small-time interest earned
(EBIT