Ringkasan Buku Manajemen Keuangan Based on Empirical Research

The book Financial Management Based on Empirical Research discusses comprehensively the concepts, theories, and developments of financial management that are built upon empirical research findings. This book does not only present basic theories, but also explains how those theories evolve along with changes in economic conditions, financial markets, and technological advancements. Therefore, readers can understand that financial management is a dynamic field that continues to develop in response to the needs of business and industry.

In this book, financial management is closely related to research activities that aim to test theories and find solutions to real-world financial problems. For this reason, empirical research becomes the main foundation of the discussion, so that the material presented is not only conceptual, but also supported by data and facts that can be scientifically tested.

In addition to discussing theories, this book also connects financial management concepts with various research examples in several industrial sectors, such as property, real estate, and the timber industry. These examples are intended to help readers see directly how financial management concepts are applied in business practice. Through this approach, readers not only understand theories in an abstract sense, but also recognize the practical benefits of applying financial management in corporate decision-making.

Another advantage of this book is its discussion of statistical methods used in financial management research. The book introduces and explains several data analysis techniques that are commonly applied in financial research, such as regression analysis, factor analysis, and discriminant analysis. These methods are essential to help researchers process data, test hypotheses, and draw scientifically accountable conclusions. With this discussion, the book is useful not only for financial management students, but also for researchers and practitioners who want to understand the fundamentals of data analysis in finance.

This book also explains various applications of research in financial management, which cover several major topics. First, the evolution of financial management, which explains how the focus of financial management has shifted from merely recording and managing funds to making strategic decisions aimed at increasing firm value. Second, the application of fundamental analysis in research, which is used to evaluate company performance based on financial statements, economic conditions, and industry prospects.

Furthermore, the book discusses the application of capital structure in research, namely how companies determine the optimal composition between debt and equity. This topic is very important because capital structure decisions directly affect company risk and profitability. In addition, the book also discusses financing decisions and dividend decisions in research, which explain how companies determine funding sources and dividend distribution policies to shareholders.

The book also reviews the application of agency theory in research, which highlights the relationship between owners (principals) and managers (agents). This theory explains potential conflicts of interest and how corporate governance mechanisms and company policies can reduce such conflicts. Moreover, the book discusses the efficient market hypothesis, which explains the extent to which information is reflected in stock prices in capital markets.

Interestingly, the book also includes modern approaches in financial management research, such as the application of Artificial Neural Networks (ANN). This method is used to predict financial conditions and market behavior by utilizing artificial intelligence technology. This shows that the book keeps up with technological developments and the latest analytical methods in finance.

Not only that, the book also discusses financial intermediation theory in research, which explains the role of financial institutions as intermediaries between parties with surplus funds and those in need of funds. This discussion is important to understand the function of banks and financial institutions in supporting economic growth. In addition, the book highlights the role of information systems and information technology in improving corporate financial performance, which is increasingly relevant in the digital era.

Overall, the book Financial Management Based on Empirical Research is a book that combines theory, research, and practice in a balanced way. This book is highly suitable as a reference for students, lecturers, researchers, and practitioners who want to understand financial management not only from a theoretical perspective but also from its practical application in the real world. With its empirical research-based approach, this book helps readers develop more critical, analytical, and systematic thinking in understanding financial problems and making financial decisions.

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-Elizabeth T.