Lutfi Lutfi

The Covid-19 outbreak has caused turbulence in Indonesia's economic growth, thereby disrupting the performance of Islamic banks, especially in the distribution of financing. This research examines the influence of economic turbulence, third-party deposits, bank size, capital and profitability on financing disbursed by Islamic banks in Indonesia. The population of this research is Islamic commercial banks in Indonesia in the 2017-2022 period. The sample selection used a purposive sampling method and obtained ten Islamic banks. The data analysis technique uses panel data analysis with a fixed effect model. The research results prove that third-party deposits positively and significantly impact financing, while bank size and capital negatively and significantly impact financing. However, economic turbulence and profitability do not affect financing. When financing is divided based on contracts, economic turbulence negatively impacts profit-sharing-based financing, and profitability negatively impacts receivables-based financing. These findings can be a reference for Islamic banks to maintain the availability of third-party deposit funds to support financing expansion and further optimize their capital by channelling it to more productive assets in the form of financing. These findings can complement existing theories and support the business cycle theory that Islamic banks tighten financing based on profit sharing, which carries higher risks.

Previous research gave different results regarding financial management behavior and appear research gap, so the researchers aimed to examine whether financial experience and knowledge have a positive effect on financial management behavior, locus of control mediates the effect of financial experience and knowledge on financial management behavior, and the number of dependents moderate effect of financial knowledge on financial management behavior. The sampling technique used purposive sampling, while analysis technique used the Structural Equation Model. Financial experience and knowledge have significant positive effect on financial management behavior. Locus of control mediates effect of financial experience on financial management behavior but is better directly. Locus of control doesn’t mediate effect of financial knowledge significantly on financial management behavior. The numbers of dependents doesn’t moderate effect of financial knowledge on financial management behavior. O...

Household financial behavior is a crucial topic to study because it determines the family's economic well-being. This study examines the effect of financial literacy, financial attitudes, financial experience, and income on household financial behavior. The object of this research is the family finance manager in Sidoarjo City, East Java. The data collection technique is using an online survey. Sample selection was done by using the purposive sampling technique. The sample of this research is 153 financial managers. The data analysis technique used the Partial Least Square Structural Equation Model (PLS_SEM). The results indicate that financial literacy and attitudes positively affect household financial behavior, while financial experience and income have no significant effect. This finding implies that financial policymakers should increase public financial literacy and attitude toward managing family finances.

The conditions of the Covid 19 outbreak during 2019 and 2020 made some people lose their jobs or income, which resulted in increased financial pressures. This research examines the influence of present fatalistic, materialism, financial knowledge, and marital status on financial stress. Data were collected using a questionnaire. The number of samples that can be processed in the study was 484 respondents. The analysis technique used is the partial least squares structural equation modeling (PLS-SEM). The direct test results show that present fatalistic and materialism significantly increase financial stress, while financial knowledge and marital status reduce financial stress. Present fatalistic has been shown to positively mediate materialism's effect on financial stress. Meanwhile, marital status strengthens the negative influence of financial knowledge on financial pressure. It means that marital status encourages someone with good financial knowledge to use their ability to ...

Financial Management Behavior is crucial to achieve future financial well-being. The purpose of this research is to examine the influence of financial experience and financial knowledge on family financial management behavior with income as a moderating variable. The samples are 249 respondents who are married with a minimum income of Rp. 5.000.000,- per month and live in Surabaya. Data is analysed using Structural Equation Modeling. The results indicate that there are significant positive influences of financial experience and financial knowledge to family financial management behavior; there is no influence of income to family financial management behavior; and, income strengthens the influence of financial knowledge to family financial management behavior. This study suggests households to spend more money for pension fund programs and improve their financial knowledge, especially about investment and credit.

One of the main goals of every individual or household is to achieve financial well-being. Previous research has shown that various factors influence financial well-being. This research aims to develop an integrated family financial welfare model by examining various factors that affect it. This study uses data of 1,158 households taken using an online survey. The data is analyzed using a structural equation model. The results show that financial experience, financial knowledge, financial status, and marital status directly affect financial well-being. Financial behavior significantly mediates the influence of financial behavior, financial knowledge, and locus of control on financial well-being. Furthermore, marital status strengthens the effect of financial knowledge on financial well-being, but it does not strengthen the effect of financial experience on financial well-being. This study suggests that the Government and financial authorities need to improve further the effectivenes...

Penelitian ini berupaya untuk mengkaji pengaruh dari lokus pengendalian dan pengetahuan keuangan pada perilaku manajemen keuangan generasi milenial dengan pendapatan sebagai moderator. Sampel penelitian ini adalah 216 responden generasi milenial berusia 20 - 39 tahun, yang berdomisili di Surabaya, Gresik dan Sidoarjo. Analisis data menggunakan model persamaan struktural (PLS-SEM). Temuan penelitian membuktikan bahwa lokus pengendalian dan pengetahuan keuangan berdampak positif secara signifikan signifikan pada perilaku keuangan generasi milenial. Sebaliknya, pendapatan tidak terbukti berpengaruh signifikan tpada perilaku keuangan. Selain itu, tidak terdapat bukti signifikan bahwa pedapatan mampu memperkuat pengaruh pengetahuan keuangan terhadap perilaku keuangan. Hal ini berarti generasi milenial perlu meningkatkan pengetahuan keuangan serta keyakinan dan kemampuan dalam mengendalikan kondisi keuangan.

This study aims to examine the effect of risk perception, risk tolerance, overconfidence and loss aversion on investment decision making. The sample in this study were people who had lived at least three years in Surabaya and Jombang and had jobs. There were 200 respondents taken using a questionnaire through the survey method. This study uses PLS-SEM (Partial Least Square-Structural Equation Model) as a data analysis technique. The results of this study indicate that risk perception has a significant negative effect on investment decision making, risk tolerance and overconfidence have a significant positive effect on investment decision making, while loss aversion has no effect on investment decision making. This research is expected to provide an overview of how to deal with risk in investment and how to avoid behavioral biases in investment decisions making.

Good corporate governance is a critical aspect in banking industries because the larg- est part of the source of funds is from public. Two of the important aspects of good corporate governance are the role of the board of commissioners and transparency. This study aimed to assess the effect of the implementation of good governance, which is proxied by the role of the board of commissioners and transparency of financial and non-financial condition, toward the operational efficiency and profitability of the na- tional commercial banks in Indonesia. This study uses data of thirty six banks for five years, from 2008 to 2012. Random effect panel data technique is used to analyze the data since this technique can increase the power of statistical analysis. The results shows that in terms of efficiency only board that functions well capable of improving the operational efficiency of the banks. As for profitability, both good board of commis- sioners and public transparency are capable of i...

This study aims to determine the effect of financial literacy, experienced regret, risk tolerance, and motivation on family investment decisions by taking samples of 105 Balinese residents. The investment decision investigated in this study is dealt with the decision to invest the money in capital market instruments and bank accounts. The analytical method used is a quantitative method using multiple linear regressions. The data were collected using a survey of questionnaire to the respondent. The sampling technique used is purposive sampling method and then continued using convenience sampling. The results of this study indicate that risk tolerance has positive influence on investment decisions of Balinese family. Meanwhile, financial literacy, experienced regret, and motivation do not affect significantly investment decisions of Balinese family. These results imply that Balinese people consider their risk tolerance as the main factor considered in making decision whether to put th...

This study aims to examine the effect of income, financial experience and financial knowledge on financial behavior. The sampling method used in this study was purposive sampling and convenience sampling. The sample in this study were family’s who had lived at least a year in Madiun and had jobs. There were 162 respondents taken using a questionnaire through the survey method. This study uses Multiple Regression Analysis as a data analysis technique. The results of this study indicate that financial experience and financial knowledge have a significant positive effect on financial behavior. There is differences in financial behavior based on income level, the higher the income, the better financial behavior.

The purpose of this study is to analyse the influence of financial performance toward bond rating of banking industry in the Indonesia Stock Exchange. The financial performance variables examined in this study include liquidity, profitability, capitalization, and asset quality. The Sample was selected using purposive sampling method. Populations of this research were taken from the banks, listed in Indonesia Stock Exchange in 2011-2015. The total population was 42 banks and only 10 of them meet the criteria. The data were analyzed using multiple regression analysis to test the hypothesis. The results of the research show that profitability has a positive influence to the bond rating, while liquidity, capitalization, and asset quality has a negative influence to the bond rating. This study imply that banks need to improve their profitabilities while maintaining their liquity risk, capital level and asset quality in order to enhance their bond ratings.

The performance appraisal system is considered an important factor for managing human resources in higher education institutions (HEIs). More importantly, when Information System (IS) is utilized for assisting such efforts, it inevitably makes the HEIs more efficient and competitive. This research attempts to integrate performance appraisal using competence-based appraisal (CBA). From this system, the HEIs are supposed to able to manage all activities related to their human resources and carriers. The methodology implemented in this research is by making the software of CBA model (the concept) and then the try out was done to find out both the weaknesses and strengths of the software, and finally the improvement was conducted as well. In addition, the evaluation of these software covers the aspects of validity and reliability testing so that the software are really proved to be completely applicable. The results provide the HEIs with information about both the weaknesses and strengt...

Consumptive behavior can negatively affect family welfare. Financial literacy is one of the factors which may affect family financial management behavior. This family financial may differ across ethnic groups due to the different characters and principles of life among them. This study aimed to examine the effect of financial literacy on family financial management using ethnic as a moderating variable. This study uses a questionnaire instrument that is distributed to 140 respondents of Javanese in Madiun residency and 96 respondents of Bugis at Makassar, East Sulawesi. The data analysis technique is multiple regression analysis. This research use purposive sampling and convenience sampling as the sampling technique. The result of this study shows that financial literacy positively affect family financial management behavior, while ethnic does not moderate the effect of financial literacy on family financial management behavior. This study suggests that families, both Javanese and B...

Penelitian ini berupaya untuk mengkaji pengaruh dari lokus pengendalian dan pengetahuan keuangan pada perilaku manajemen keuangan generasi milenial dengan pendapatan sebagai moderator. Sampel penelitian ini adalah 216 responden generasi milenial berusia 20 - 39 tahun, yang berdomisili di Surabaya, Gresik dan Sidoarjo. Analisis data menggunakan model persamaan struktural (PLS-SEM).
Temuan penelitian membuktikan bahwa lokus pengendalian dan pengetahuan keuangan berdampak positif secara signifikan signifikan pada perilaku keuangan generasi milenial. Sebaliknya, pendapatan tidak terbukti berpengaruh signifikan tpada perilaku keuangan. Selain itu, tidak terdapat bukti signifikan bahwa pedapatan mampu memperkuat pengaruh pengetahuan keuangan terhadap perilaku keuangan. Hal ini berarti generasi milenial perlu meningkatkan pengetahuan keuangan serta keyakinan dan kemampuan dalam mengendalikan kondisi
keuangan

One of the main goals of every individual or household is to achieve financial well-being. Previous research has shown that various factors influence financial well-being. This research aims to develop an integrated family financial welfare model by examining various factors that affect it. This study uses data of 1,158 households taken using an online survey. The data is analyzed using a structural equation model. The results show that financial experience, financial knowledge, financial status, and marital status directly affect financial well-being. Financial behavior significantly mediates the influence of financial behavior, financial knowledge, and locus of control on financial well-being. Furthermore, marital status strengthens the effect of financial knowledge on financial well-being, but it does not strengthen the effect of financial experience on financial well-being. This study suggests that the Government and financial authorities need to improve further the effectiveness of financial literacy and financial inclusion programs and campaign for a more frugal life among households to avoid financial difficulties.

This study examines the technical efficiency level of regional development banks (RDBs) in Indonesia and then analyzes the influence of bank-specific factors on this efficiency. This study uses data from all 25 conventional RDBs in Indonesia for the period 2012-2017 and a two-stage procedure to examine bank efficiency. Data Envelopment Analysis (DEA) is used to estimate bank technical efficiency and panel data techniques, both fixed effects (FE) and random effects (RE), are used to assess the determinants of bank efficiency. The results of this study indicate that most Indonesian RDBs have yet to become efficient. The most important source of their inefficiency is non-interest income. Furthermore, bank efficiency is positively influenced by capital and the loan-to-deposit ratio, while it is negatively affected by non-performing loans and the proportion of time deposits. There is also evidence that bank size has a U-shaped influence on efficiency. This study recommends that RDBs should increase the capital in improving its fee-based income through the development of innovative technology-based products and services. RDBs also need to optimize their use of depositors' funds for lending coupled with prudential principles to avoid problematic loans. ABSTRAK Kajian ini memeriksa tahap kecekapan teknikal bank pembangunan wilayah (RDBs) di Indonesia dan menganalisis pengaruh faktor khusus bank terhadap kecekapan tersebut. Data kajian ini terdiri daripada semua 25 buah bank pembangunan wilayah konvensional di Indonesia untuk tempoh 2012-2017 dan prosedur dua peringkat telah digunakan untuk memeriksa tahap kecekapan bank tersebut. Kaedah Analisis Pengumpulan Data (DEA) telah digunakan untuk menganggar kecekapan teknikal bank, manakala kaedah data panel iaitu kesan tetap (FE) dan kesan rawak (RE) digunakan untuk menganggar penentu kecekapan bank tersebut. Hasil kajian menunjukkan kebanyakan RDBs di Indonesia belum mencapai kecekapan. Sumber utama kepada ketidakcekapan RDBs adalah pendapatan bukan faedah. Tambahan lagi, kecekapan bank secara positif dipengaruhi oleh modal dan nisbah pinjaman kepada deposit, manakala pinjaman tidak berbayar dan kadar deposit bermasa mempunyai pengaruh negatif kepada kecekapan bank. Selain itu, dapatan kajian juga mendapati saiz bank mempunyai pengaruh yang berbentuk U terhadap kecekapan bank. Kajian ini mengesyorkan bahawa RDBs perlu meningkatkan modal untuk mengukuhkan pendapatan berasaskan yuran melalui pembangunan produk dan perkhidmatan yang berasaskan teknologi inovatif. RDBs juga perlu mengoptimumkan penggunaan dana pendeposit dengan memberikan pinjaman secara berhemat untuk mengelakkan pinjaman bermasalah.

This study aims to determine the effect of financial literacy, experienced regret, risk tolerance , and motivation on family investment decisions by taking samples of 105 Bali-nese residents. The investment decision investigated in this study is dealt with the decision to invest the money in capital market instruments and bank accounts. The analytical method used is a quantitative method using multiple linear regressions. The data were collected using a survey of questionnaire to the respondent. The sampling technique used is purposive sampling method and then continued using convenience sampling. The results of this study indicate that risk tolerance has positive influence on investment decisions of Balinese family. Meanwhile, financial literacy, experienced regret, and motivation do not affect significantly investment decisions of Balinese family. These results imply that Balinese people consider their risk tolerance as the main factor considered in making decision whether to put the money in bank accounts or capital market instruments. A B S T R A K Penelitian ini bertujuan untuk mengetahui pengaruh literasi finansial, regret, toleransi risiko, dan motivasi terhadap keputusan investasi keluarga dengan mengambil sampel 105 penduduk Bali. Keputusan investasi yang diselidiki dalam penelitian ini dihubung-kan dengan keputusan menginvestasikan uang di instrumen pasar modal dan rekening bank. Metode analisis yang digunakan adalah metode kuantitatif dengan menggunakan regresi linier berganda. Data dikumpulkan menggunakan survei kuesioner kepada res-ponden. Teknik sampling yang digunakan adalah metode purposive sampling dan kemu-dian dilanjutkan dengan convenience sampling. Hasil penelitian ini menunjukkan bah-wa risk tolerance berpengaruh positif terhadap keputusan investasi keluarga Bali. Se-mentara itu, literasi finansial, regret, dan motivasi tidak mempengaruhi keputusan in-vestasi keluarga Bali secara signifikan. Hasil ini menyiratkan bahwa masyarakat Bali menganggap toleransi risiko sebagai faktor utama yang dipertimbangkan dalam pen-gambilan keputusan apakah akan memasukkan uang ke rekening bank atau instrumen pasar modal.

Consumptive behavior can negatively affect family welfare. Financial literacy is one of the factors which may affect family financial management behavior. This family financial may differ across ethnic groups due to the different characters and principles of life among them. This study aimed to examine the effect of financial literacy on family financial management using ethnic as a moderating variable. This study uses a questionnaire instrument that is distributed to 140 respondents of Javanese in Madiun residency and 96 respondents of Bugis at Makassar, East Sulawesi. The data analysis technique is multiple regression analysis. This research use purposive sampling and convenience sampling as the sampling technique. The result of this study shows that financial literacy positively affect family financial management behavior, while ethnic does not moderate the effect of financial literacy on family financial management behavior. This study suggests that families, both Javanese and Bugis, need to enhance their financial literacy to enable them to manage their finance well so that they can improve their welfare. A B S T R A K Perilaku konsumtif dapat berdampak negatif pada kesejahteraan keluarga. Melek finan-sial adalah salah satu faktor yang dapat mempengaruhi perilaku manajemen keuangan keluarga. Keuangan keluarga ini mungkin berbeda antarkelompok etnis karena perbe-daan karakter dan prinsip kehidupan di antara mereka. Penelitian ini bertujuan untuk menguji pengaruh literasi keuangan terhadap pengelolaan keuangan keluarga dengan menggunakan etnik sebagai variabel moderating. Penelitian ini menggunakan instru-men kuesioner yang didistribusikan kepada 140 responden orang Jawa di residensi Ma-diun dan 96 responden Bugis di Makassar, Sulawesi Timur. Teknik analisis data adalah analisis regresi berganda. Penelitian ini menggunakan teknik purposive sampling dan convenience sampling sebagai teknik pengambilan sampel. Hasil penelitian ini menun-jukkan bahwa literasi keuangan berpengaruh positif terhadap perilaku pengelolaan keua-ngan keluarga, sedangkan etnis tidak memoderatori efek literasi finansial terhadap peri-laku manajemen keuangan keluarga. Studi ini menunjukkan bahwa keluarga, baik orang Jawa maupun Bugis, perlu meningkatkan kemampuan literasiek finansial mereka untuk memungkinkan mereka mengelola keuangan mereka dengan baik sehingga mereka dapat meningkatkan kesejahteraannya.

The financial literature supports an increasing role for behavioral aspects of investment decision making. Among other factors, demographic factor may influence investors' risk tolerance and investment preferences. This paper explores the relationship between demographic factors, such as gender, age, marital status, education, income, and family members, and investor's risk tolerance as well as investment preference. First of all, it attempts to reveal the relationship between investor's demographic factors (gender, age, marital status, education, income, and number of family) and investor's risk behavior (risk seeker, risk averse. Secondly, it tries to see the relationship between investor's demographic factors (gender, age, marital status, education, income, and number of family) and types of investment (bank products, capital market instruments, and physical assets). Finally, it endeavors to uncover the relationship between investor's demographic factors (gender, age, marital status, education, income, and number of family) and types of investment (bank products, capital market instruments, and physical assets). Using a sample of 84 investors in Surabaya, this study shows that demographic factors explain investor's risk tolerance and investment preference. The results also reveal a significant relationship between investors' risk tolerance and their investment preferences.

Good corporate governance is a critical aspect in banking industries because the largest part of the source of funds is from public. Two of the important aspects of good corporate governance are the role of the board of commissioners and transparency. This study aimed to assess the effect of the implementation of good governance, which is proxied by the role of the board of commissioners and transparency of financial and non-financial condition, toward the operational efficiency and profitability of the national commercial banks in Indonesia. This study uses data of thirty six banks for five years, from 2008 to 2012. Random effect panel data technique is used to analyze the data since this technique can increase the power of statistical analysis. The results shows that in terms of efficiency only board that functions well capable of improving the operational efficiency of the banks. As for profitability, both good board of commissioners and public transparency are capable of increasing the bank operational profitability in Indonesia. A B S T R A K Tata kelola perusahaan yang baik (good corporate governance) merupakan aspek penting dalam industri perbankan karena bagian terbesar dari sumber dananya dari masyarakat. Dua aspek penting dari tata kelola perusahaan yang baik adalah peranan dewan komisaris dan transparansi. Penelitian ini bertujuan untuk menilai efek dari penerapan tata kelola yang baik, yang ditunjukkan oleh peran dewan komisaris dan transparansi pada kondisi keuangan dan non-keuangan, terhadap efisiensi operasional dan profitabilitas bank umum nasional di Indonesia. Penelitian ini menggunakan data dari tiga puluh enam bank selama lima tahun, dari 2008 sampai 2012. Random effect panel digunakan untuk menganalisis data karena teknik ini dapat meningkatkan daya analisis statistik. Hasil penelitian menunjukkan bahwa dalam hal efisiensi hanya dewan komisaris yang berfungsi dengan baik dan mampu meningkatkan efisiensi operasional bank. Adapun profitabilitas, baik dewan komisaris dan transparansi pub-lik juga mampu meningkatkan profitabilitas operasional perbankan di Indonesia.

his study aims to examine the effect of risk perception, risk tolerance, overconfidence,
and loss aversion on investment decision making. The sample in this study were workers in Surabaya and Jombang, East Java. There were 400 respondents taken using a
questionnaire through the survey method. This study used PLS-SEM (Partial Least
Square-Structural Equation Model) as a data analysis technique. The results showed
that risk perception has a significant and negative effect on investment decision making, risk tolerance and overconfidence have a significant and positive effect on investment decision making, while loss aversion has no effect on investment decision making. This research is expected to provide an overview of how to deal with risk in investment and how to avoid behavioral biases in investment decisions making

The purpose of this research is to examine the influence of financial literacy, locus of control, and ethnic on investment decision. This research uses multiple regression analysis technique and a sample of 199 investors who put their funds in bank account and real asset in Surabaya and Madura region. The results shows that financial literacy, internal locus of control, external locus of control, and ethnic do not have significant impact simultaneously on investment decision, while locus control is only variable that has significant partial impact investment decision. This finding implies that goof financial literacy per se will not result in a good investment decision without accompanied by good internal control. Therefore, policy makers should not only focus on financial literacy education but also increase public awareness about the importance of self-control when making investment decisions. A B S T R A K Tujuan penelitian ini adalah untuk menguji pengaruh literasi keuangan, locus of control , dan etnis terhadap pengambilan keputusan investasi secara simultan dan parsial. Peneltian ini menggunakan teknik analisis regresi berganda dengan sampel 199 investor yang menempatkan dananya di akun bank dan aset di wilayah Surabaya dan Ma-dura. Hasil penelitian menunjukkan bahwa literasi keuangan, locus of control internal , locus of control eksternal, dan etnis tidak secara bersama-sama tidak berpengaruh signifikan terhadap keputusan investasi, sementara locus of control internal merupa-kan satu-satunya variabel bebas yang secara parsial berpengaruh signifikan terhadap keputusan investasi. Temuan penelitian ini memiliki arti literasi keuangan yang baik saja tidak akan menghasilkan keputusan investasi yang baik tanpa disertasi dengan pengendalian diri internal yang baik pula. Oleh karena itu para pembuat kebijakan tidak hanya terfokus pada edukasi literasi keuangan saja namun juga perlu upaya untuk menyadarkan masyarakat akan pentingnya pengendalian diri ketika membuat keputusan investasi.