Browsing by Author "Sumachdar, Endang"

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    FINANCIAL PERFORMANCE ANALYSIS FOR ISLAMIC RURAL BANK TO THIRD PARTY FUNDS AND THE COMPARATION WITH CONVENTIONAL RURAL BANK IN INDONESIA
    (IEEE PRESS, 26/11/2010) Sumachdar, Endang; Hasbi, Hariandy
    This study investigates empirically: (1) the effect of financial performance for Islamic Rural Bank to third party funds, and (2) compare the best financial performance through CAMEL between Islamic and Conventional Rural Bank. The population was all Rural Bank (Islamic and Conventional) which registered at Bank Indonesia as a Central Bank in Indonesia, Data analysis uses descriptive methods, multiple regression analysis and t-tests as a tool for testing hypotheses. The results showed that: (1) Variable ROA, NPF, OEOI partially significant effect on increasing of third party funds, except CAR and FDR. Simultaneously CAR, ROA, NPF, OEOI, and FDR significantly influence to increase third party funds, and (2) The financial performance of Islamic Rural Bank better than Conventional
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    WHICH IS BETTER: HOMOSKEDASTIS OR HETEROSKEDASTIS VOLATILITY MODEL FOR OPTION PRICING? (Test Of Black-Scholes Option Model And Garch Option Model At The Indonesian Stock Exchange)
    (Universiti Malaysia Pahang, 2009) Haruman, Tendi; Hendrawan, Riko; Sumachdar, Endang
    The purpose of this research is to compare the accuracy of Black-Scholes Option Model and GARCH option models for Stock option utilizing data from Astra, BCA, Indofood and Telkom at the Indonesian Stock Exchange. The intraday stock return of Astra, BCA, Indofood and Telkom exhibits an overwhelming presence of volatility clustering; suggesting that GARCH model has an effect which best corresponds with the actual price. The best model is constructed using ARIMA model and the best lag in GARCH model is extracted. The finding from this research show that by comparing the average percentage mean squared errors of the GARCH Option Model and the Black-Scholes Option Model, the former was found more accurate than the latter. GARCH Model relatively improves average percentage mean squared errors of Black-Scholes Model ; one month option shows a twenty eight point ten percent improvement, two month option shows twenty three point thirty percent and three month option shows twenty percent.