Analisis Strategi Diversifikasi Perusahaan di Indonesia: Determinan serta Pengaruhnya pada Kinerja dan Struktur Industri.
(B. Ekonomi)
Analisis Strategi Diversifikasi Perusahaan di Indonesia: Determinan serta Pengaruhnya pada
Kinerja dan Struktur Industri
Untoro, Wisnu; Rahardian, Reza; Trinugroho, Irwan
Fakultas Ekonomi UNS, Penelitian, BOPTN UNS, Hibah Bersaing, 2012
We do two empirical researches in the first year research project. The first paper (presented in Chapter
II) focuses on the impact of firm characteristics on firm diversification strategy that is divided into two:
business diversification and international diversification. Using a novel dataset, we study 294 Indonesian
publicly traded firms in a cross-section research. Controlling for past performance, firm age and industry
dummies, we do find, as we expect, that large firms tend to diversify their business as well as their
geographic segments. We also extend this study by looking at the moderating role of labor intensity in
the impact of firm size on diversification strategies. Our results show that large firms could broaden their
geographic area of sales more easily when they do not face labor constraint. Less labor intensive firms
could be more flexible to bring their business into a wider coverage.
The second paper (presented in Chapter III) is aimed to investigate the determinants of bank
diversification strategy in Indonesia. Using a large panel dataset of 108 Indonesian banks from 2001 to
2009 estimated by employing GLS and two-step GMM, we find that large banks, banks that face a higher
credit risk and banks that their margins are lower tend to be more diversified in their business. Our
results also reveal that foreign banks have higher degree of diversification. No evidence is found that
market concentration drives banks to diversify their business.
Analisis Strategi Diversifikasi Perusahaan di Indonesia: Determinan serta Pengaruhnya pada
Kinerja dan Struktur Industri
Untoro, Wisnu; Rahardian, Reza; Trinugroho, Irwan
Fakultas Ekonomi UNS, Penelitian, BOPTN UNS, Hibah Bersaing, 2012
We do two empirical researches in the first year research project. The first paper (presented in Chapter
II) focuses on the impact of firm characteristics on firm diversification strategy that is divided into two:
business diversification and international diversification. Using a novel dataset, we study 294 Indonesian
publicly traded firms in a cross-section research. Controlling for past performance, firm age and industry
dummies, we do find, as we expect, that large firms tend to diversify their business as well as their
geographic segments. We also extend this study by looking at the moderating role of labor intensity in
the impact of firm size on diversification strategies. Our results show that large firms could broaden their
geographic area of sales more easily when they do not face labor constraint. Less labor intensive firms
could be more flexible to bring their business into a wider coverage.
The second paper (presented in Chapter III) is aimed to investigate the determinants of bank
diversification strategy in Indonesia. Using a large panel dataset of 108 Indonesian banks from 2001 to
2009 estimated by employing GLS and two-step GMM, we find that large banks, banks that face a higher
credit risk and banks that their margins are lower tend to be more diversified in their business. Our
results also reveal that foreign banks have higher degree of diversification. No evidence is found that
market concentration drives banks to diversify their business.