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The Predictability of GARCH-Type Models on the Returns Volatility of Primary Indonesian Exported Agricultural Commodities Hatane, Saarce Elsye
Jurnal Akuntansi dan Keuangan Vol 13, No 2 (2011): NOVEMBER 2011
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (71.575 KB) | DOI: 10.9744/jak.13.2.87-97

Abstract

Agricultural sector plays an important role in Indonesia’s economy; especially for the plantation sub-sector contributing high revenues to Indonesia’sexporting sectors. The primary agricultural commodities in Indonesian export discussed in this study would be Crude Palm Oil (CPO), Natural Rubber TSR20, Arabica Coffee, Robusta Coffee, Cocoa, White Pepper and Black Pepper. Meanwhile, the returns volatility nature of agricultural commodity is famous. The volatility refers to heteroscedasticity nature of the returns which can be modeled by GARCH-type models. The returns volatility can be describe by the residual of the mean equation and volatility of error variances in the previous periods. The aims of this study are to examine the predictability of GARCH-type models on the returns volatility of those seven agricultural commodities and to determine the best GARCH-type models for each commodity based on the traditional symmetric evaluation statistics. The results find that the predictability of ARCH, GARCH, GARCH-M, EGACRH and TGARCH, as type of GARCH models used in this study, are different for each commodity.
GARCH-Type Models on the Volatility of Indonesian Cocoa’s Spot Price Returns Hatane, Saarce Elsye
Jurnal Manajemen dan Kewirausahaan Vol 13, No 2 (2011): SEPTEMBER 2011
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (71.575 KB) | DOI: 10.9744/jmk.13.2.117-123

Abstract

Cocoa plays an important role in generating Indonesian foreign exchange revenues since it is one of Indonesia’s primary commodity exports. Meanwhile, as part of plantation commodity, cocoa’s price also has volatility nature. This study has two aims: to examine the predictability of GARCH-type models (ARCH, GARCH, GARCH-M, EGARCH, and TGARCH) on the cocoa’s returns volatility and to determine the best predictability model among the significant GARCH-type models. Two independent variables used in this study are the residual from the mean equation and volatility of error variances in the previous periods. The prices used are spot price series in periods of January 2005 to June 2011 from BAPPEBTI (Indonesian Commodity Futures Trading Regulatory Agency – CoFTRA). The results show that GARCH-M and EGARCH models are the best prediction models.
Perancangan dan Pembuatan Aplikasi Sistem Informasi Akuntansi Atas Siklus Pengeluaran dan Pendapatan untuk UD X Tanjaya, Patricia; Rostianingsih, Silvia; Hatane, Saarce Elsye
Jurnal Infra Vol 4, No 1 (2016)
Publisher : Jurnal Infra

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (78.005 KB)

Abstract

Accounting system implemented in UD X still being applied manually by recording debts in the account payable ledger and credits in the account payable ledger with a Microsoft Excel application. The company’s revenues were calculated manually by calculating the customer’s invoices and bills because transactions were not recorded in a journal. Hence, UD X requires a large amount of time to process the financial information. Therefore, an accounting information system is needed to record UD X’s transactions in a journal automatically and to process financial report quickly and precisely.According to the analysis based on UD X’s problems, an application to support the UD X’s business performance must be made. The application would be implemented to process the purchase transactions, sales, returns, purchases, sales returns, work orders, loan and credit payments, and accounting reports generator. The design of the Data Flow Diagram system uses Microsoft Visio, and the ERD uses Power Designer 15. The application will be based on CodeIgniter Framework and MySQL for the database.User Satisfaction towards the application’s overall quality is 100% which means the application has fulfilled and corresponds to the system requirements. This application helps the records process by automate the journal recordings and postings, and also helps to speed up the generation of the company’s profit report.
GARCH-Type Models on the Volatility of Indonesian Cocoa’s Spot Price Returns Hatane, Saarce Elsye
Jurnal Manajemen dan Kewirausahaan Vol 13, No 2 (2011): SEPTEMBER 2011
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (498.473 KB) | DOI: 10.9744/jmk.13.2.117-123

Abstract

Cocoa plays an important role in generating Indonesian foreign exchange revenues since it is one of Indonesia’s primary commodity exports. Meanwhile, as part of plantation commodity, cocoa’s price also has volatility nature. This study has two aims: to examine the predictability of GARCH-type models (ARCH, GARCH, GARCH-M, EGARCH, and TGARCH) on the cocoa’s returns volatility and to determine the best predictability model among the significant GARCH-type models. Two independent variables used in this study are the residual from the mean equation and volatility of error variances in the previous periods. The prices used are spot price series in periods of January 2005 to June 2011 from BAPPEBTI (Indonesian Commodity Futures Trading Regulatory Agency – CoFTRA). The results show that GARCH-M and EGARCH models are the best prediction models.
Talent Management and Financial Performance: Does Organization Learning Mediate That Relationship? Tarigan, Josua; Ferdian, Gabriele Nia; Hatane, Saarce Elsye; Dharmayanti, Diah
Asia-Pacific Management and Business Application Vol 7, No 1 (2018)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

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Abstract

This research has a purpose to identify the impact of the talent management through organization learning towards the financial performance of the listed consumer goods sector in Indonesia. Indonesia costumer goods sector has faced significant growth during the recent year, the companies are enforced to establish competitive strategy to maintain their position in the market. Talent management should be paid attention more since it helps the company to attract, acquire, and retain the best employees that may help maintaining their position in the market as well as enhancing the performance. Based on the hypothesis test, it is true that talent management influences organization learning and financial performance. The companies such as PT HM Sampoerna Tbk and PT Unilever Tbk who obtain high score in the talent management variable most likely to be followed by high score in the organization learning as well. The results also reveal that some companies still need to improve the attraction activities and system to capture learning which are the first indicator of talent management and forth indicator of organization learning. In addition, it was found that organization learning as a mediator can strengthen the relationship between talent management and financial performance.
Does Board Diversity Influence Financial Performance? Tarigan, Josua; Hervindra, Christoforus; Hatane, Saarce Elsye
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

INTELLECTUAL CAPITAL DISCLOSURES AND AUDIT COMPONENTS IN NON-DISCRETIONARY INCOME Hatane, Saarce Elsye; Rembulan, Dewi; Tarigan, Josua
MIX: JURNAL ILMIAH MANAJEMEN Vol 9, No 1 (2019): MIX: Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1320.56 KB)

Abstract

This study aims to determine the relationship of Intellectual Capital Disclosures (ICD), audit committee characteristics (size, gender, education, expertise), and audit quality toward the performance of the company measured through Non-Discretionary Net Income (NDNI) and Cash Flow Operation (CFO). This study is conducted on service listed companies in the Indonesia Stock Exchange (Service Industry) from 2010 to 2016 by panel data regression method analyzed using random effect model. The results of this study indicate that components in ICD have no significant impact on firm performance. Some components in the audit committees are found to have significant positive relationship towards financial performance. The empirical results suggest that ICD serve as a tool in aiding firm performance. A corporation should practice ICD extensively to enjoy the impact on the firm performance and value. Most research studies the relationship between intellectual capital disclosures and board diversity toward firm performance individually. The interaction of intellectual capital disclosures and audit committee characteristics is analyzed and studied to see whether audit committee characteristics is a factor that can help and improve the effectiveness of firm performance. Audit quality is also being analyzed and being taken into consideration as a variable. This is the first study to find the relationship towards the firm performance using NDNI and CFO as the dependent variables
INTELLECTUAL CAPITAL DISCLOSURES AND AUDIT COMPONENTS IN NON-DISCRETIONARY INCOME Hatane, Saarce Elsye; Rembulan, Dewi; Tarigan, Josua
MIX: JURNAL ILMIAH MANAJEMEN Vol 9, No 1 (2019): MIX: Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1320.56 KB) | DOI: 10.22441/mix.2019.v9i1.008

Abstract

This study aims to determine the relationship of Intellectual Capital Disclosures (ICD), audit committee characteristics (size, gender, education, expertise), and audit quality toward the performance of the company measured through Non-Discretionary Net Income (NDNI) and Cash Flow Operation (CFO). This study is conducted on service listed companies in the Indonesia Stock Exchange (Service Industry) from 2010 to 2016 by panel data regression method analyzed using random effect model. The results of this study indicate that components in ICD have no significant impact on firm performance. Some components in the audit committees are found to have significant positive relationship towards financial performance. The empirical results suggest that ICD serve as a tool in aiding firm performance. A corporation should practice ICD extensively to enjoy the impact on the firm performance and value. Most research studies the relationship between intellectual capital disclosures and board diversity toward firm performance individually. The interaction of intellectual capital disclosures and audit committee characteristics is analyzed and studied to see whether audit committee characteristics is a factor that can help and improve the effectiveness of firm performance. Audit quality is also being analyzed and being taken into consideration as a variable. This is the first study to find the relationship towards the firm performance using NDNI and CFO as the dependent variables
A Comparative Study on Financial Performance of the Participants in Indonesia Sustainability Reporting Awards Semuel, Hatane; Hatane, Saarce Elsye; Fransisca, Cyndy; Tarigan, Josua; Dautrey, Jean-Marc
Indonesian Journal of Sustainability Accounting and Management Vol 3, No 1 (2019): June 2019
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28992/ijsam.v3i1.84

Abstract

The main objective of this research is to analyze the financial performance of companies that have participated in Indonesia Sustainability Reporting Awards (ISRA) competitions in 2009–2017, both regularly and temporarily. This study also analyzes the differences in financial performance in terms of industrial sector factors and the number of workers. This research applies secondary data, which is carried out with independent t–test and multivariate test. Companies that consistently participate in ISRA competitions have a smaller level of leverage, and more exceptional ability to generate operating cash. Companies with fewer than two thousand employees are more productive than companies with ten thousand employees. However, when the number of employees is more than ten thousand people, productivity managing assets is even better. It seems that investors appreciate small companies more. Compared to companies in the banking sector, companies in the manufacturing and non–manufacturing industries have more substantial debts, more productive assets, and higher stock market values. It seems that investors appreciate this ISRA competition more for non–banking companies.
INTELLECTUAL CAPITAL DISCLOSURE IN DETERMINING THE ECONOMIC VALUE ADDED SPREAD OF SERVICE COMPANIES IN INDONESIA Hatane, Saarce Elsye; Zanderet’s, Christina; Tarigan, Josua
Jurnal ASET (Akuntansi Riset) Vol 11, No 1 (2019): Jurnal ASET (Akuntansi Riset) Januari -Juni 2019
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/jaset.v11i1.15874

Abstract

This study aims to observe the of intellectual capital disclosure on ECONOMIC VALUE ADDED (EVA) Spread. The study is conducted at a service industry sector, listed on the Indonesia Stock Exchange in the 7 years observation period, 2010 to 2016. This study examines 427 firm years from 61 companies. Human Capital Disclosure (HCD), Relational Capital Disclosure (RCD) and Structural Capital Disclosure (SCD) are used to measure intellectual capital disclosure as the independent variables. Another independent variables are Return on assets (ROA), return on equity (ROE) and Operating Cash Flow Ratio (OCF-R) which are used to measure profitability. EVA spread is the dependent variable. There are two control variables used are firm size and firm age. In total there are six hypotheses to be tested in this study. Data testing is done using Gretl software. The results of this study are quite diverse. Five of the six independent variables have no significant effect on EVA Spread. On the other hand, SCD has a significant positive effect on EVA Spread.