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-kebijakan dividen: salah satu keputusan manajemen yang paling penting

-dividen: tidak hanya sumber kompensasi untuk pemegang saham tapi juga
efectiv memberitahukan informasi sekarang dan future earning ke capital market
-dividen effect firm value, jadi manajer harus mampu menentukan jumlah
optimal dividen yang dibayarkan untuk memaksimumkan nilai perusahaan
-pembayaran dividen memiliki peranan untuk mendisiplinkan dan memonitor
manajer dan berkontribusi dalam mengurangi agency problem
-ekpektasi pada future market condition akan secara efisien direfleksikan oleh
komposisi aset portofolio banksa
-dividen: peningkatan wealth pemegang saham
-investor harus mampu memprediksi return yang diharapkan
-dividen tidak mudah diprediksi
-sulit bagi manajemen untuk membuat kebijakannya
-jumlah dividen: keputusan finansial
-keputusan dividen: diintegrasi dg keputusan pendanaan dan investasi
-laba tinggi, tp dividen rendah : karena perusahaan ingin melakukan
ekspansi atau membutuhkan kas untuk operasi perusahaan
-investor risk aversion: lebih memilih dividen
-asset size + DP: agency cost hypothesis
AG Theory: pemegang saham tidak bisa secara effective memonitor manajemen
biaya atau Penurunan nilai perusahaan dihasilkan dari pemisahan antara pemilik
dan control
agency cost proportional to firm size
larger firms: bayar lebih banyak dividen, karena dapat akses ke pasar modal
lebih mudah pada biaya financing lebih murah
-Capital ratio + DP
mengelola bank komersial modul sertifikasi tingkat ii general banking
Pt gramedia pustaka utama IBI-LSPP edisi ke 1feb 2014
bank management & financial services international edition 2008, McGrawHill/Irwin Neywork
penulis peter S. rose dan sylvia C.hudgins edisi ke 7
Arilaha 2009 wherever will you go
like ican ipi162837

marketable securities held by a bank in its portfolio of balance sheet assets.


Investment securities, along with bank loans, are the principal source of bank
earnings, and generally serve two key functions: as a source of bank liquidity, or
funding to meet loan demand or customers needs for cash and as an additional
source of earnings from the capital gains realized when portfolio securities are sold.
Bank investment grade securities are acceptable collateral in meeting pledging
requirements for holding federal government deposits, and also deposits of state and
local governments. Bank investment securities are carried at amortized book value,
or original purchase cost less amortization or accretion to par value.
Separated from the investment securities portfolio are trading account assets, and
other securities a bank is eligible to purchase in securities underwriting for resale to
the public or to other financial institutions, and also securities held under repurchase
agreements. Assets held in the trading portfolio are marked to market daily.
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Investment securities refer to certificates or documents that indicate that you


have an interest in a business or have lentmoney to a company or a
government entity. Investment securities are of two types, namely equity
securities (such as commonstocks) and debt securities (such as bank notes,
Treasury bills and bonds). An entity or corporation that issues securities is
known as the issuer.
Here is a list of the main types of investment securities:
Bond: A bond is a type of loan or debt security for a certain period for which
the issuer pays interest at a predetermined rate. Bonds can be issued by
credit institutions, government agencies, corporations and public authorities.
The principal amount is paid back at a later date the maturity date or
maturity. The issuer can pay the interest on bonds in intervals or as a lumpsum after maturity. Bonds generate fixed income in the form of interest.
Underwriting is the most common method of issuing bonds. Bonds are
categorised as follows:

Bearer and Registered Bonds

Treasury Bonds
Treasury Bills
Treasury Notes
General Obligation and Revenue Bonds
Participating Bonds
Zero Coupon Bonds
Convertible Bonds
High Yield (Junk) Bonds
Indexed Bonds
Warrant Bond (Bonds with warrants)
Mortgaged backed Securities
Commercial Paper
Sinking Bond Funds
Equities: Also known as shares, this pertains to the amount of ownership you
buy in a company. The general public usually opts for equities. Consider
investing in the following:

Common Stock
Preferred Stock
Par Value
Book Value
Classes of Stock
Dividends
Ex-Dividend
Stock Splits
Treasury Stock
Depository Receipts
DRIPS
Commodities: Commodities are those goods which are supplied by a number
of suppliers irrespective of differentiation in quality. Tea, coffee, petroleum,
milk, copper, rice, wheat, and coal are commodities. So, a contract for buying
or selling these commodities can be termed as a security.
Derivatives: These are financial instruments that drive their value from direct
securities, such as equities and bonds. Derivatives were called as hedging
instruments earlier. Consider the following options:

Futures
Swaps
Index options
Covered calls
Uncovered calls
Warrants
Repurchase Agreements
ECONOMYWATCH.COM

DEFINITION of 'Investment Securities'


Securities that are purchased in order to be held for investment. This is in contrast to
securities that are purchased by a broker-dealer or other intermediary for resale. Banks
often purchase marketable securities to hold in their portfolios.

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BREAKING DOWN 'Investment Securities'


Investment securities held by banks are usually one of two main sources of revenue,
along with loans. Investment securities provide banks with a source of liquidity along with
the profits from realized capital gains when they are sold.

Read more: Investment Securities Definition |


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DEFINITION of 'Marketable Securities'


Very liquid securities that can be converted into cash quickly at a reasonable price.
Marketable securities are very liquid as they tend to have maturities of less than one
year. Furthermore, the rate at which these securities can be bought or sold has little
effect on their prices.

Read more: Marketable Securities Definition |


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BREAKING DOWN 'Marketable Securities'


Examples of marketable securities include commercial paper, banker's acceptances,
Treasury bills and other money market instruments.

What are marketable securities?


Marketable securities are unrestricted financial instruments which can be readily
sold on a stock exchange or bond exchange. Marketable securities are often
classified into two groups: marketable equity securities and
marketable debt securities.
Marketable equity securities include shares of common stock and most preferred
stock which are traded on a stock exchange and for which there are quoted
market prices.
Marketable debt securities include government bonds and corporate bonds which
are traded on a bond exchange and for which there are quoted market prices.
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Marketable securities are securities or debts that are to be sold or redeemed within a year.
These are financial instruments that can be easily converted to cash such as government
bonds, common stock or certificates of deposit.
How it works/Example:

If these securities and/or debt are anticipated to be converted into cash within one year, they are
listed at their current market value, in the Current Assets section of the balance sheet. If they are
not trading securities, they are listed as Non Current Assets.
Held to maturity and available for sale, securities can either be listed as long term or short term,
depending on the maturity dates of the securities and the intention of management regarding
conversion of these securities.
Why it Matters:
Marketable securities should be a relatively small figure on the balance sheet of most
nonfinancial companies. Financial companies present marketable securities in a much more
prominent place on their balance sheet since they derive a significant portion of
their income from these investments.Analysts use this information for liquidity ratio analysis.
Creditors are interested in the marketable securities figure in order to understand what assets
are liquid (insert comma) in case the company hassolvency issues. Creditors want to know what
they can get a hold of in the event that bankruptcy is declared.

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