Bram Hadianto - Academia.edu (original) (raw)

Papers by Bram Hadianto

Quantum Journal of Social Sciences and Humanities

Financial leverage is the source of external funds with the fixed expense, i.e., interest, to ele... more Financial leverage is the source of external funds with the fixed expense, i.e., interest, to elevate the investor's wealth. On one side, this leverage can benefit the shareholders: tax savings; on the other, it can be harmful if it cannot be organized well: bankruptcy. Consequently, this leverage is essentially managed. This manuscript examines the free cash flow of agency theory by relating the utmost shareholder to financial leverage with profitability as the control variable. As the population, we utilize the telecommunication companies in the capital market of Southeast Asia from 2015 to 2020 and a simple random sampling technique to take them as the sample. To test the hypothesis, we use the t-statistic to examine the coefficients in the regression model with pooling data. The study summarizes a positive impact of the utmost shareholder on financial leverage; however, profitability negatively affects this leverage. This circumstance means that the debt is still adequate to...

Integrated Journal of Business and Economics, 2021

This study aims to examine and analyze the effect of employee engagement and motivation on workin... more This study aims to examine and analyze the effect of employee engagement and motivation on working performance. This population is 618 employees working at one of the textile companies in Bandung, distributed into seven divisions. The number of samples of 247, furthermore, is counted by the Isaac and Michael formula. Because of the divisions, the pieces are taken by a stratified random sampling technique. Ominously, not all of them are responsive. Hence, this research can get a 54.66% participating level on the online survey or successfully collect 135 responses. Besides, this study utilizes the confirmatory factor analysis and the composite reliability coefficient analysis to test data quality. After that, the structural equation model based on variance is used. After examining the proposed hypothesis and discussing the related facts, this study deduces that a positive effect of employee engagement and motivation on working performance exists.

Journal of Distribution Science, 2021

Purpose: Technology induces the virtual distribution channel to exist, especially for booking a r... more Purpose: Technology induces the virtual distribution channel to exist, especially for booking a room online. This situation, indeed, provides an alternative for the customers to book based on their budget through digital platforms. One platform offering competitive prices is virtual hotel operators, such as Airbnb, OYO, RedDoorz, and Airy Rooms. Preferably, after using their platform, the user should be satisfied and loyal. Hence, this investigation aims to prove some associations. The first is between e-satisfaction and e-loyalty. The second is between website quality and e-satisfaction. The final is between website quality and e-loyalty. Research design, data, and methodology: This study is quantitatively designed with the sample of 350 users of the virtual hotel operator applications in Bandar Lampung: Airbnb, OYO, RedDoorz, and Airy, as the samples. Therefore, by denoting this sample size, the structural equation model based on covariance is utilized to examine the three hypothe...

The purpose of this research is to find the impact of profitability and investment opportunity on... more The purpose of this research is to find the impact of profitability and investment opportunity on dividend policy. In this research, Sales Growth (SG) and Market To Book Value Ratio (MTBV) are proxies of the investment opportunity. Purposive sampling is used as sampling technique. The sample is taken from LQ45 index constituent company for year of 2004 until 2006. In this period, every company must pay dividend consistently. The polled data regression model is conducted as method of analysis. The results state that profitability and market to book ratio have positive impact on dividend policy. Sales growth has no impact on dividend policy. Keywords: profitability, market to book value ratio, dividend policy.

The phenomenon of job insecurity is not a new term in business organization environment. Job inse... more The phenomenon of job insecurity is not a new term in business organization environment. Job insecurity is the condition which the employees feel threated by uncertainty of sustainability in working at their organizations. Appearance of job insecurity will cause negative impact to employees physically and psychologically both in short term and long term. However, in fact, not all organizations aware about this significant effect of it toward employee specifically and organization generally. Then, what is the importance of managing job insecurity in employment relationship? This article aims to explain the effect of job insecurity in one organization and how the company should manage this situation, in an employment relationship context.

Organization needs a person who has learning culture over period of time, especially in business.... more Organization needs a person who has learning culture over period of time, especially in business. To achieve this objective, every person must understand the learning process in their brain and emotion. Brainware management provides facilities for this purpose. Through managing human brain and emotion, organization can compete effectively in the business.

There are many instruments of investment in the capital market. One of instruments is the option.... more There are many instruments of investment in the capital market. One of instruments is the option. The quotation of the option depends on its underlying asset. If the asset is the stock, the option is called as the stock option. This paper describes how to determine the value of option based on binomial tree model. Both, forward calculation and backward pricing are used to establish the value of option. For the simplicity, the explanation that performed in this paper doesn't include dividend payment. Keywords: binomial model valuation, real world valuation, risk neutral valuation, backward pricing, European option.

The aim of this research is to know the impact of earnings per share (EPS) and price earnings rat... more The aim of this research is to know the impact of earnings per share (EPS) and price earnings ratio (PER) on stock price. Sample of stock that used is taken from wholesaler and retail sector in Indonesian Stock Exchange in 2000-2005 which collected by purposive sampling method. Regression with panel data is conducted as the method of data analysis. The result states that PER and EPS have positive impact on stock price partially. Simultaneously, PER and EPS have the impact on stock price. Keywords: PER, EPS, stock price

The restaurant, hotel and tourism industry is one of the industries that exists in Indonesia Stoc... more The restaurant, hotel and tourism industry is one of the industries that exists in Indonesia Stock Exchange. Every firm in industry including the restaurant, hotel, and tourism industry needs debt to finance its activity. The agency theory states that the debt can facilitate the expropriation. This study intends to know whether the debt can facilitate it by testing the relationship between the largest shareholder and debt policy. The sample is taken by simple random sampling method. The study uses the polled data regression model as data analysis method. The result of this study shows that the largest shareholder ownership has negative impact on debt policy. That means there is no expropriation in this industry.

Jurnal Manajemen, 2010

... 2. Sebagai rasio pasar modal, PER memiliki pengaruh terbesar kedua ... 4. Peneliti selanjutny... more ... 2. Sebagai rasio pasar modal, PER memiliki pengaruh terbesar kedua ... 4. Peneliti selanjutnya dapat memasukan variabel fundamental ekonomi seperti: pertumbuhan ekonomi dan nilai kurs tukar; variabel fundamental perusahaan yang lain seperti rasio hutang, return on ...

Academic Journal of Interdisciplinary Studies, 2022

This research intends to prove the causing factors: electronic word of mouth, brand image, and tr... more This research intends to prove the causing factors: electronic word of mouth, brand image, and trust as the determinant of the online utilizing intention of streaming music platform: Spotify Premium. Moreover, this research follows the hypothesis testing design to implement this aim. To get the samples and their response, we selected 100 people in Bandar Lampung as the candidates of users of Spotify Premium based on the snowball sampling technique through the online survey. Also, we use the structural equation model with the variance approach to examine the three proposed hypotheses. After discussing the statistical results related to the hypothesis testing, we deduce that intention to use Spotify Premium is positively affected by electronic word of mouth, brand image, and trust. Additionally, brand image has the highest size effect, followed by electronic word of mouth and trust. To attract the attention of the candidates, Spotify needs to commit to keeping its motto: Listening is ...

In a democracy, a general election is a platform for citizens to use their political rights. Howe... more In a democracy, a general election is a platform for citizens to use their political rights. However, not all citizens use it well, leading to an imperfect voting participation level. This situation motivates this study to exist. With this intention, this paper examines and analyzes the participation to vote decision in the party general election in 2019 based on gender and ages. Backing up this goal, we use the people in three regencies in West Java: Subang, Majalengka, and Sumedang, as the population. Because of these areas, we utilize multistage random sampling to take 600 people as the samples. As the statistical checking, we use the Mann-Whitney U and Kruskal-Wallis to test the hypotheses based on the categorical responses. After investigating the answers through the statistical test and discussing their outputs, we deduce that the participation of females is lower than that of males, demonstrating the gender gap. Also, the younger the participants, the higher involvement to vote.

Journal of Asian Finance, Economics and Business, 2021

The dividend is a device for controlling shareholders to enrich themselves by transferring wealth... more The dividend is a device for controlling shareholders to enrich themselves by transferring wealth from the debt holders to them. To prove it, therefore, this study wants to examine the impact of debt policy on dividend policy by profitability and liquidity as a control variable. This research population is manufacturing firms listed on the capital market of Indonesia from 2006 until 2012. Moreover, the samples get taken by a stratified random sampling method. To obtain and analyze the data, furthermore, this study employs the archival method and the logistic regression model. Once investigating and discussing the statistical test results of the hypothesis, this study concludes that debt policy owns a negative influence on dividend policy, whereas profitability and firm liquidity have a positive effect. This situation shows that wealth transfer from debt holders to shareholders does not exist.

Channeling credit by a bank to their borrowers is a risky activity. The failure of the borrowers ... more Channeling credit by a bank to their borrowers is a risky activity. The failure of the borrowers in returning it is the intended risk. If this situation happens, it disturbs the bank intermediary function. Hence, the bank cannot lend money to the other parties needing it and has high bad loans. This investigation occurs to answer why these loans happen. By the information of the previous study facts, at least, three inconsistent determinants exist. They are supervising board number, bank profitability, and bank size. Based on it, this investigation attempts to test and analyze the effect of supervising board number, bank profitability, and bank size on bad loans. The population of this study covers the banks listed in the capital market in Indonesia from 2015 until 2018. To generalize the result, we use a simple random sampling method. Furthermore, we employ the panel data regression model with a random effect and the test of t-statistic to prove three proposed hypotheses. By indica...

Jurnal Manajemen Terapan dan Keuangan

This study plans to investigate and analyze the influence of service quality on brand trust and b... more This study plans to investigate and analyze the influence of service quality on brand trust and brand trust on brand loyalty by utilizing the Precious One users as the object and population. Based on this goal, this study is designed quantitatively; thus, we grab the samples by simple random sampling. According to the Isaac and Michael formula, the total pieces should be 344. However, 251 users respond to filling the questionnaire; hence, the participating rate is 75.45%. Moreover, we use confirmatory factor analysis to validate the responses, the Cronbach Alpha analysis to test response reliability, and the structural equation model based on covariance to examine the related hypotheses. Overall, we find that service quality positively affects brand trust. Also, this positive sign is available in the causal relationship between brand trust and brand loyalty. Hence, the service quality is vital for Precious One to commit to building brand trust, creating brand loyalty.

Jurnal Manajemen Indonesia

In the weak-form market efficiency theory, investors cannot predict the movement of all prices be... more In the weak-form market efficiency theory, investors cannot predict the movement of all prices because of randomness. This circumstance happens because of a quick market reaction to new information. Conversely, suppose the market is not efficient in this shape; in that case, the investors can obtain an abnormal return. One of the reasons is the thin market, where many inactive stocks to be traded are available. Based on these issues, this research intends to examine this theory by employing runs testing on the daily returns of the Indonesia Composite Index (ICI) between January 2014 and December 2018 for each year and a whole. Once performing this test, this research demonstrates that the daily returns of the ICI are random for both situations. By denoting these facts, this research concludes that the capital market in Indonesia is efficient in a weak form and experiences a decrease in the thin level, reflected by the escalation in trading frequency, volume, and value, as well as th...

Banks and Bank Systems

The distribution of funds becomes the identity and function of banks. By performing this function... more The distribution of funds becomes the identity and function of banks. By performing this function well, the banks can get profit to survive. One of the considered factors affecting this channeling function is the issuance of government bonds to finance the state budget, which may be harmful to this bank channeling function. Therefore, to prove this situation, it is necessary to check a causal relationship between the government bond value and the bank intermediary function through this study, adding bank size and loans as a control variable. This study utilizes the banks listed on the capital market of Indonesia as the population. Furthermore, the Slovin formula and a simple random sampling method are employed to determine the number of banks to be the samples and take them. Also, the regression model with pooled data and the t-statistic test are used to estimate its coefficients and examine the proposed hypotheses, respectively. Overall, this study demonstrates that the government ...

Jurnal Manajemen Teori dan Terapan| Journal of Theory and Applied Management

The aim of this research is to know the prediction of debt policy, profitability, liquidity, size... more The aim of this research is to know the prediction of debt policy, profitability, liquidity, size, and firm’s status on bond rating, and to find the accuracy rate for classifying companies that have investment grade of bond rating and non investment grade of bond rating based on these given factors. We employ logistic regression model as data analysis method. Our sample is taken fromIndonesian Bonds Market Directory (IBMD) in the year of 2008 which collected by purposive sampling method. There are 105 listed bond’s issuers until 2008. In our observation, there are 3 issuers that have no bond rating so that we use only 102 issuers as the sample. The results show that profitability is the only explanatory variable which has significant impact on bond rating with positive sign and the accuracy rate of debt policy, profitability, liquidity, size, and firm’s status to classify bond issuer category are as high as 85.3%.