Berto Usman, Berto
Department of Management, Faculty of Economics and Business University of Bengkulu,

Published : 11 Documents
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Does Bid/Ask Spread React to the Increase of Internet Search Traffic? Nurazi, Ridwan; Usman, Berto; Kananlua, Paulus S.
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 8, No 3 (2015): December 2015 - March 2016
Publisher : Universitas Prasetiya Mulya

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Abstract

INTERNET SEARCH TRAFFIC AND ITS INFLUENCE ON LIQUIDITY AND RETURNS OF INDONESIA STOCKS: AN EMPIRICAL STUDY Usman, Berto; Tandelilin, Eduardus
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

The development of advanced information technology has become a standard in the processof improving corporate value. This is seen through the high level of investors’ awareness of thebrand and information that company holds (Da, Engleberg, and Gao, 2011; Bank, Larch, andGeorge, 2011; Joseph, Wintoki, and Zhang, 2011). Among the information providers, internetplays an important role not only in accessing information, but also as a medium that can beapplied to publish a wide range of financial reports or news to attract investors. This study aimsto examine the effect of investors’ attention towards returns, liquidity and volatility of stockreturns. The results indicate that investors’ attention which is represented by Google Insightcontributes positively and significantly to the explanation of returns, liquidity, and volatility ofstock returns in Indonesian manufacturing firms. Also, the phenomenon of informationtechnology usage can be one of the considerations for investors in order to discover what typesof company’s criterion that is appropriate to be included in their investment portfolio.Keywords: investors’ attention, returns, liquidity, volatility of stock returns
Determinan Non Performing Loan (NPL) pada Industri Perbankan (Bukti Empiris Perusahaan Go Publik di Bursa Efek Indonesia) Kamaludin, .; Darmansyah, .; Usman, Berto
UB Online Journal -- Development Version -- OJS 2.4.7.1 Vol 13, No 4 (2015)
Publisher : UB Online Journal -- Development Version -- OJS 2.4.7.1

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Abstract

Abstract: This study aims to identify the determinant factors of Non Performing Loan (NPL)in Indonesian banking sector. Data were collected from 16 banks by observation during theyear 2002 to 2011. From the data found that there were six variables which closely associatedto the variation of NPL for the subsequent observation period. In addition, the sampleswere taken from public listed company in Indonesia stock exchange, in which the particulardata were imported from Indonesian Capital Market Directory (ICMD CD-ROM). The furtheranalysis was conducted by employing Pooled EGLS (Cross-section random effects). Ourresults reflected that NPL was obviously driven by the volatility and fluctuation of micro andmacroeconomic factors. The factors comprise of loan to deposit ratio (LDR), capital adequacyratio (CAR), net interest margin (NIM), inflation (INF), interest rate (IR), and exchangerate (ER) consecutively contributed to the variation of non performing loan (NPL)in Indonesian banking sector.Keywords: NPL, CAR, LDR, NIM, INF, IR, ER
Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects Nurazi, Ridwan; Usman, Berto
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Semarang State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.6659

Abstract

This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results reveal that several financial ratios perform a bit contrary to the theory, in which the ratio of CAR shows positive sign but insignificantly contributes to stock returns. Also, the ratio of NPL does not affect the return. In fact, ROE and LDR positively and significantly contribute toward banks’ stock return. Meanwhile, NIM and BOPO show negative signs. The other macroeconomic variables, interest rate (IR), exchange rate (ER) and inflation rate (INF) are consistent with the a priori expectation, in which those variables negatively and significantly contribute to stock return of 16 banks, for the observation period from 2002 to 2011 in the Indonesian banking sector.
INTERNET SEARCH TRAFFIC AND ITS INFLUENCE ON LIQUIDITY AND RETURNS OF INDONESIA STOCKS: AN EMPIRICAL STUDY Usman, Berto; Tandelilin, Eduardus
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (322.916 KB) | DOI: 10.22146/jieb.6477

Abstract

The development of advanced information technology has become a standard in the process of improving corporate value. This is seen through the high level of investors’ awareness of the brand and information that company holds (Da, Engleberg, and Gao, 2011; Bank, Larch, and George, 2011; Joseph, Wintoki, and Zhang, 2011). Among the information providers, internet plays an important role not only in accessing information, but also as a medium that can be applied to publish a wide range of financial reports or news to attract investors. This study aims to examine the effect of investors’ attention towards returns, liquidity and volatility of stock returns. The results indicate that investors’ attention which is represented by Google Insight contributes positively and significantly to the explanation of returns, liquidity, and volatility of stock returns in Indonesian manufacturing firms. Also, the phenomenon of information technology usage can be one of the considerations for investors in order to discover what types of company’s criterion that is appropriate to be included in their investment portfolio.
Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects Nurazi, Ridwan; Usman, Berto
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Semarang State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.7191

Abstract

This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results reveal that several financial ratios perform a bit contrary to the theory, in which the ratio of CAR shows positive sign but insignificantly contributes to stock returns. Also, the ratio of NPL does not affect the return. In fact, ROE and LDR positively and significantly contribute toward banks’ stock return. Meanwhile, NIM and BOPO show negative signs. The other macroeconomic variables, interest rate (IR), exchange rate (ER) and inflation rate (INF) are consistent with the a priori expectation, in which those variables negatively and significantly contribute to stock return of 16 banks, for the observation period from 2002 to 2011 in the Indonesian banking sector.
Does Equity Market Integration Exist Between Turkey and the Eurozone? Usman, Berto; Kassie, Nega Muhabaw; Wahyudi, Fitra
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 11, No 1 (2018): March 2018
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v11i1.12488

Abstract

This research investigates the existence of stock market integration between Turkey and the Eurozone. In this study, the performance of Turkey’s stock exchange is proxied by the BIST100, and the EURO STOXX50 is employed as a proxy for the Eurozone index. We hypothesize that there is a dynamic relationship between Turkey and the Eurozone. Methodologically, our research was conducted by employing monthly time series data obtained from EIKON datastream International. In order to demonstrate the extent of equity market integration between Turkey and Eurozone, a vector autoregression model (VAR) was utilized. According to the results, there is no co-integration between these two equity markets. This is in line with the output of residual matrix test, where the correlation between these two market indices was found to be low. However, a Granger causality test indicated that there was a low one-way contribution from Turkey to the Eurozone index during the observation period.
THE PHENOMENON OF BEARISH AND BULLISH IN THE INDONESIAN STOCK EXCHANGE Usman, Berto
Esensi: Jurnal Bisnis dan Manajemen Vol 6, No 2 (2016)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (942.197 KB) | DOI: 10.15408/ess.v6i2.3750

Abstract

The Phenomenon of Bearish and Bullish in The Indonesian Stock ExchangeBearish and bullish pattern commonly exist in any of stock exchanges all over the world. Hereby, the volatility of price on specific stock and index will generally perform a typical co-movement. This study is officially intended to reveal the existence of bearish and bullish phenomenon in Indonesia stock exchange. The technical tool used in this study was known as candlestick analysis. It is utilized to discover the inclination of price movement and the percentage of bearish and bullish shown by the index. Further, it is noted that the object of this study is Indonesia stock exchange, which is surrogated by IDX Composite (IHSG). This research finally proved that there were 61 bearish (38.85%) and 96 time bulish (61.15%) patterns in IDX Composite (IHSG).DOI: 10.15408/ess.v6i2.3750
CSR Practice and Asymmetry Information of Indonesian Public Listed Companies Usman, Berto; Yennita, Yennita
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 1 (2018): April-July 2018
Publisher : Universitas Prasetiya Mulya

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Abstract

Policy regime and policy change: Comparing the phenomenon of local government before and after regional autonomy Kamaludin, Kamaludin; Usman, Berto
Jurnal Ekonomi dan Bisnis Vol 21 No 1 (2018)
Publisher : Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24914/jeb.v21i1.940

Abstract

This research aims to evaluate the financial performance of four municipalities (Bengkulu City, Rejang Lebong Regency, South Bengkulu Regency, and North Bengkulu Regency) in Bengkulu Province, Indonesia. The study also identifies the contribution of several financial variables before and after the implementation of regional autonomy. Theoretically, regional autonomy enables these four municipalities to manage their Local Own-Source Revenue (LOSR or PAD - Pendapatan Asli Daerah) better because these municipalities now have to learn to manage their financial resources independently. However, the findings indicate that these four municipalities still exhibit a high financial dependency on the central government or the fiscal balance fund. Consequently, the contribution of LOSR to the total income is still low. Besides, the study finds that these four municipalities exhibit a sufficiently good efficiency ratio but a fluctuating LOSR growth ratio, especially in some municipalities before the proliferation of new municipalities. Further, the main variables of the degree of financial decentralization, local financial autonomy, efficiency, and LOSR growth do not exhibit significant differences between the pre- and post- regional autonomy implementation.