In the internationalization process, scales do not become an obstacle among small medium SMEs. However, the capacity to get market access is the most important consideration based the type of SMEs ownership. This reach draws the impact of ownership types to invoice internationalization. The model analysis used in this research are: (1) model 1 used to determine whether or not SMEs to export, and (2) model 2 used to determine the intensity of SMEs in exports that control by innovation (R&D expenditure), employment (SIZE) and sector choices. As a result, there is no significant impact of ownership type to the internationalization strategy. The decision mostly influenced by control variable which is sector choices, respectively.
Seasoned Equity Offering (SEO) is an additional public offering of a company’s shares in order to generate extra financing for business expansion or fulfillment of its liability. Based on Jakarta Stock Exchange data, 11 listed companies conducted SEO during year 2001. However, only 8 companies meet the requirements as samples for this research. In order to evaluate financial and operational variables, this research uses financial statement figures published 2 year prior and after SEO’s. Current ratio (CR), debt to equity ratio (DER) are chosen to represent financial variables, while net profit margin (NPM) and return on investment (ROI) represent operational variables. This research reveals that there was no significant difference in financial performance before and after SEO’s. It happened due to several factors, such as: (1) the fund generated from SEO’s were used to settle matured debts; and (2) foreign currency denominated debts which increased in value during the period of economic crisis
This study focuses on the institutions in the form of credit unions that provide credit loans to micro-businesses. The sample of this study consisted of 102 members of 15 different credit co-operatives in East Java as the research participants. The research objective of this study was to determine the effect of empowerment programs on the welfare of the members. The empowerment programs were divided into (1) educational, (2) training, (3) savings and loan, and (4) network development programs. The results showed that the empowerment programs through education and training programs had a significantly positive effect on increasing the welfare of the members, while the savings and loan programs as well as the network building program did not significantly affect the welfare of the members. This was possible because members who already had networks and received funding assistance would not succeed without good education and training programs. The research was expected to contribute academically in the development of savings and loan co-operative unions (CUs) and provide a foundation and solution for all CU administrators in developing the CUs, especially in improving the welfare of their members.Keywords: Credit Union, member empowerment, and member welfare
Membangun UKM agar mampu untuk bertahan dalam kondisi persaingan yang semakin kompleks tidaklah mudah , Pelaku usaha yang telah mempersiapkan diri untuk berkompetisi akan eksis, tetapi banyak pula pengusaha yang gagal. Berdasarkan hasil temuan penelitian sebelumnya , bahwa kegagalan bisnis UKM sangat ditentukan oleh kemampuan pengelolaan modal kerja. Pengelolaan modal kerja adalah mengatur penggunaan modal kerja sesuai kebutuhan usaha. Kebutuhan modal kerja sangat ditentukan oleh tingkat siklus konversi kas sehingga perlu memperhitungkan tingkat perputaran dari masing masing komponen di dalam modal kerja. Penelitian ini membandingkan antara penggunaan modal kerja dengan kebutuhan modal kerja yang harus dipenuhi oleh usaha, penggunaan modal kerja bisa berlebihan , atau kekurangan. Kelebihan atau kekurangan modal kerja berdampak pada ketidak efisienan perusahaan dalam menjalankan usaha, yang pada akhirnya akan mengalami kebangkrutan
Penelitian ini yang mengkaji model klasifikasi kegagalan usaha UMKM di Indonesia, yang telah dihasilkan pada penelitian tahun pertama . kegagalan usaha adalah penurunan hutang lancar yang disebabkan ketidakmampuan UMKM untuk mendapatkan pinjaman modal kerja . UMKM tidak mempunyai pencatatan yang standard akuntansi, sehingga peneliti melakukan pelatihan dan pendampingan UMKM. Hasil pelatihan dan pendampingan menghasilkan 50 responden yang memenuhi kriteria sebagai responden dalam penelitian ini . Data yang dihasilkan pada pelatihan dan pendampingan tersebut berupa laporan keuangan tahun 2016 . Dengan data laporan keuangan UMKM tersebut diuji dengan Model determinan kegagalan usaha mencakup tiga variabel: rasio modal kerja / total aset; rasio kewajiban lancar / kewajiban lancar; dan rasio aset / persediaan cepat. Hasil penelitian ini menunjukkan bahwa tidak ada perbedaan antara estimasi dengan klasifikasi kegagalan aktual dibuktikan dengan paired sampel test dengan nilai t = 0.292 dan significant 0.771, lebih besar dari 0.05. Hal ini menunjukkan bahwa model indikator kegagalan keuangan dapat diterapkan untuk memprediksi kegagalan UMKM .Kata Kunci : Model kegagalan, Prediksi kegagalan, Uji beda, UMKM
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