This research presents an evaluation of the implementation of the Corporate Social Responsibility... more This research presents an evaluation of the implementation of the Corporate Social Responsibility programme based on the use of Fly Ash and Bottom Ash (FABA) waste. The form of programme implementation is the use of coal combustion waste to make products such as bricks and paving blocks. The products are used in the construction of livable houses, village road casting and soil stabilisation in several areas of Pacitan Regency, East Java. This research uses a qualitative descriptive approach by examining the social and economic impacts on local communities through six stages of Social Return on Investment (SROI) analysis. The measured social benefits were greater than the investment with a ratio of 2.4:1. This means that for every IDR 1 invested, IDR 2.4 benefits were realised. This shows that the programme has the potential for economic, social and environmental sustainability.
IOP Conf. Series: Earth and Environmental Science 1359, 2024
Industrial development has a detrimental impact on the Earth's rising surface temperature, primar... more Industrial development has a detrimental impact on the Earth's rising surface temperature, primarily due to greenhouse gas emissions. In Indonesia, the energy sector was the leading contributor to carbon emissions until 2022. This study aims to investigate the relationship between financial, carbon, and environmental performance and carbon emissions disclosure. The sample for this research was selected using a purposive sampling method, comprising 20 energy sector companies listed on the Indonesian Stock Exchange. Panel data regression analysis was conducted, with carbon emissions disclosure being the dependent variable and profitability, leverage, environmental performance, company size, and carbon performance as the independent variables. The study's results indicate that financial performance, environmental performance, and company size have a significant impact on carbon emissions disclosure, while leverage and carbon performance do not have a significant effect.
JURNAL ILMIAH MANAJEMEN BISNIS DAN INOVASI UNIVERSITAS SAM RATULANGI (JMBI UNSRAT), 2024
The number of companies conducting IPOs on the Indonesia Stock Exchange continues to increase so ... more The number of companies conducting IPOs on the Indonesia Stock Exchange continues to increase so that competition between companies also increases. One of the company's strategies to grow is the Initial Public Offering (IPO) to obtain additional capital. After an IPO, it is very important to conduct a financial performance assessment because it can affect the stock price and the value of a company. The purpose of this study is to describe the financial ratios and analyze the differences of the average financial performance before and after the IPO and describe the impact of the IPO on the financial performance of each company sector. The research method used was the wilcoxon signed ranks test and the MANOVA test on the financial statements of 48 companies that conducted IPOs in 2019. Based on the results of the study, there was a performance improvement in the ratio of liquidity and solvency, but in the ratio of profitability and activity, there was a decrease in performance. The results of the Wilcoxon signed ranks test showed that the ratio of profitability, solvency, liquidity, and activity had significant differences and the MANOVA test proved that the ratio of profitability, solvency, liquidity, and activity simultaneously had differences before and after the IPO Abstrak. Jumlah perusahaan yang melakukan IPO di Bursa
Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in the Indonesian economy, contr... more Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in the Indonesian economy, contributing 60.5% to the GDP, employing 96.9% of the workforce, and accounting for 15.69% of exports. However, MSMEs still face capital problems. Many of them struggle to access financial institutions due to their limited financial literacy. This research aims to identify the level of financial literacy among microbusinesses. The survey involved 60 respondents in the Cibinong District of Bogor Regency and analyzed how financial literacy levels and demographic factors influence microbusinesses' decisions regarding the use of financing products from micro financial institutions (MFIs). The analytical method employed in this study is logistic regression. The research results indicate that financial attitudes, education, and income have a significant positive impact on financing decision from micro financial institutions, while financial knowledge and behavior have a significant negative impact.
BUMN (state owned enterprise) as a business unit with most of the capital owned by the governemen... more BUMN (state owned enterprise) as a business unit with most of the capital owned by the governement has the main goal of obtaining a profit from the activities it carries out. This study aims to analyze the factors that influence the profitability of state-owned companies with gender as a moderating variable. The sampling method used is non-probability sampling with a purposive sampling technique. The samples generated from purposive sampling are 16 companies. The study used panel data regression analysis. The results showed that variables Current Ratio, Debt to Equity Ratio, and Growth Sales do not significantly influence ROA. The results of the moderation regression test showed that the gender variable does not have a moderating effect on the Current Ratio, Debt to Equity Ratio, and Growth Sales variables on ROA.
Globalisasi mempengaruhi pesatnya perkembangan teknologi dan ilmu pengetahuan. Perkembangan ini d... more Globalisasi mempengaruhi pesatnya perkembangan teknologi dan ilmu pengetahuan. Perkembangan ini diikuti munculnya perusahaan-perusahaan financial technology sehingga mendorong persaingan lebih ketat pada industri perbankan. Pengungkapan intellectual capital dalam laporan tahunan sebagai aset tidak berwujud dinilai meningkatkan keunggulan kompetitif perusahaan sehingga berpengaruh terhadap kinerja perusahaan dan harga sahamnya. Penelitian ini bertujuan menganalisis pengaruh pengungkapan intellectual capital sebagai aset tidak berwujud terhadap kinerja keuangan dan harga saham perusahaan subsektor perbankan yang terdaftar di Bursa Efek Indonesia periode 2018–2020. Pengambilan sampel dilakukan menggunakan metode purposive sampling, sementara analisis data menggunakan SEM-PLS. Hasilnya menunjukkan bahwa pengungkapan intellectual capital berpengaruh positif dan signifikan terhadap kinerja keuangan namun tidak berpengaruh positif dan signifikan terhadap harga saham perusahaan subsektor pe...
Palm oil is one of Indonesia's leading sectors. Palm oil companies on the IDX experienced a decli... more Palm oil is one of Indonesia's leading sectors. Palm oil companies on the IDX experienced a decline in profitability from 2016-2019. Some even had negative profits. One indicator to assess the company's performance is to look at the level of profitability. This study aims to analyze the effect of leverage, activity, liquidity, and sales growth on the profitability of palm oil companies for the 2016-2020 period. The sampling method used is non-probability sampling with a purposive sampling technique. This study uses panel data regression analysis. The results showed that Debt to Asset Ratio, Total Asset Turnover, and Current Ratio had a negative effect on ROA, while Working Capital Turnover had no effect on ROA, and sales growth had a positive effect on ROA.
Investment is one of the determining variables and has a positive effect on economic growth (GDP)... more Investment is one of the determining variables and has a positive effect on economic growth (GDP). Investing in stocks with large market capitalization will increase JKSE growth. IDX80 is an index consisting of 80 stocks that have high liquidity, large market capitalization, and good company fundamentals. This study aims to find a combination of stocks that meet the criteria in forming an optimal portfolio based on the Markowitz model and the Single Index Model also to find the best portfolio performance using Value at Risk. This study uses reports of monthly stock price, JKSE, and interest rates BI7DRR period February 2019-February 2022. The results show there are 17 stocks combination form the optimal portfolio of the Single Index Model with an expected return of 0.01882 and a variance value of 0.002582 per month. While the optimal portfolio formed by the Markowitz model produces six stocks combination, the expected return and variance are 0.002243 and 0.003866 per month, respectively. Based on comparison using Value at Risk, the optimal portfolio by the Single Index Model is better than the Markowitz model because it has the highest expected return, the best risk, the lowest possible loss, and the best portfolio performance.
The increase in the number of investors until 2021 reached 201.5% compared to 2019. The increase ... more The increase in the number of investors until 2021 reached 201.5% compared to 2019. The increase was dominated by students and college students. The number of investors who increased drastically remains small, compared to the total population of Indonesian society. The subject of this study are undergraduate students at IPB University. This study aims to analyze the factors that influence the interest in investing during Covid-19 pandemic through undergraduate students at IPB University. The factors being studied were investment knowledge, investment motivation, and technological progress. The samples used in this study were 100 college students, for sampling each faculty using the Quota Sampling method. The analysis method used in this study were descriptive analysis and Structural Equation Modeling (SEM)-PLS. The result of analysis show that the investment knowledge factor did not affect significantly, while investment motivation and technological progress had a positive and significant effect on the investment interest of undergraduate students at GL University during the Covid-19 Pandemic. The results that investment knowledge does not have a significant effect on investment interest need to be considered so that it does not produce a negative impact. The research will be immensely useful to different stakeholders such as government, policymakers, financial advisors, and investors in making their strategic or operational decisions.
Program "What If" mengajarkan materi literasi keuangan dengan mengacu pada "Buku Literasi Keuanga... more Program "What If" mengajarkan materi literasi keuangan dengan mengacu pada "Buku Literasi Keuangan untuk Sekolah Menengah Atas" yang diterbitkan oleh Otoritas Jasa Keuangan (OJK). Model dan media pembelajaran ini didesain sesuai dengan kebutuhan siswa SMAN 1 Sigaluh. Pelaksanaaan program "What If" diikuti oleh 14 siswa SMA N 1 Sigaluh yang berasal dari kelas 12. Media pembelajarannya beragam, yaitu menggunakan google classroom, video conference, WhatsApp dan website "https://pkmwhatif.com/". Program "What If" merupakan inovasi dari pembelajaran perencanaan keuangan pada siswa SMA dengan metode konsekuensi dan risiko, sehingga membantu dalam memahami pengambilan keputusan keuangan yang baik. "What If" berhasil meningkatkan literasi keuangan, sehingga yang well literate menjadi 78,84 %. Selain itu, tingkat inklusi keuangan menjadi sebesar 88,75%.
Globalization influences the rapid development of technology and science. This development was fo... more Globalization influences the rapid development of technology and science. This development was followed by the emergence of financial technology companies which increased the banking industry's fierce competition. Disclosure of intellectual capital in the annual report as an intangible asset can increase the company's competitive advantage, affecting the financial performance and stock price. This study aims to analyze the effect of intellectual capital disclosure as an intangible asset owned by a company on the financial performance and stock prices of banking subsector companies listed on the Indonesia Stock Exchange for the 2018–2020 period. The sampling technique was carried out using the purposive sampling method, while the data was analyzed using SEM-PLS. The results showed that the disclosure of intellectual capital had a positive and significant effect on financial performance but did not positively affect the company's stock price.
The stock market is one of the alternatives chosen by companies to meet their funding needs. The ... more The stock market is one of the alternatives chosen by companies to meet their funding needs. The first offering of a company's shares through the stock market to investors is called an Initial Public Offering. At the time of initial public offering, underpricing often occurs when the initial stock price on the primary market is lower than the stock price on the secondary market which will disadvantage the company because the collected funds are not maximum. This research aims to analyze the effect of macroeconomic factors on underpricing in companies conducting IPOs listed on the
Investing in stock instruments in the capital market is interesting for many investors, both loca... more Investing in stock instruments in the capital market is interesting for many investors, both local and foreign. However, when the price of stocks is considered too expensive, that will reduce the purchasing power of investors towards these shares and the liquidity of the shares will decrease as well that will impact the decreasing returns of investors. Overcoming this condition, companies often take corporate action in the form of a stock split. This study analyzes the effect of stock split on abnormal returns of companies listed on the Indonesia Stock Exchange in 2015-2019. Using a purposive sampling method (nonprobability sampling) we obtained 34 companies as a research sample. We use the event study approach for data processing in finding abnormal returns and t-test as well. This study classifies samples into two categories, complex sample category, and sectoral industries. The result shows that for the complex category, there are three out of eleven days of events that have an impact on abnormal returns marked by the t-test results greater than t-table. Whereas in each sectoral industries there are only five affected sectors, three unaffected sectors and one sector cannot be tested due to insufficient data. This result is also consistent with theories related to the stock split, signaling theory, and trading range theory.
Pandemi COVID-19 mendorong peningkatan penjualan produk-produk kesehatan seperti masker, handsani... more Pandemi COVID-19 mendorong peningkatan penjualan produk-produk kesehatan seperti masker, handsanitizer, obat-obatan dan lain-lain. Sebagai pemimpin pasar e-marketplace yang sedang berkembang di Indonesia, Shopee menyediakan fitur online consumer review dan rating pada platformnya. Penelitian ini bertujuan untuk menganalisis pengaruh online consumer review dan rating terhadap minat beli produk kesehatan pada e-marketplace Shopee selama masa pandemi COVID-19 di Jabodetabek. Penarikan sampel dilakukan dengan teknik purposive sampling. Metode yang digunakan dalam penelitian ini adalah analisis deskriptif dan SEM-PLS, dengan responden sebanyak 191 orang. Hasil analisis menunjukkan variabel online consumer review dan rating berpengaruh positif dan signifikan terhadap minat beli produk kesehatan dengan variabel rating memiliki pengaruh lebih dominan.
As management has the authority over the financial statements issued by the company, much of earn... more As management has the authority over the financial statements issued by the company, much of earnings management is trying to overhaul profits or what is called earnings engineering. One of the profit engineering techniques is income smoothing, which rules profits in order to reduce fluctuation. This study aims to analyze the effects of financial leverage and profitability on income smoothing. The object of this research is the IDX Quality 30 index (IDXQ30) Non-Bank for the 2015-2019 period. The data used is secondary data obtained from the companies' financial statements during the 2015-2019 period and literature studies. The method used in this research is binary logistic regression analysis with Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Net Profit Margin (NPM) as independent variables and Eckel Index as dependent variable. The results showed that simultaneously DER, ROA, and NPM have a significant effect on income smoothing. Partially, DER and ROA have no effect on income smoothing, while NPM variable has a significant negative effect on income smoothing.
Salah satu pihak yang terdampak hebat oleh pandemi Covid-19 adalah usaha mikro, kecil, dan meneng... more Salah satu pihak yang terdampak hebat oleh pandemi Covid-19 adalah usaha mikro, kecil, dan menengah. Kondisi ini mengkhawatirkan mengingat mayoritas pelaku usaha di Indonesia termasuk ke dalam kelompok ini dan menyerap sebagian besar tenaga kerja. Selama ini pun, karena beragam kendala yang dihadapi, menjadikan kinerja UMKM masih lemah dan kontribusinya terhadap produk domestik bruto tidaklah sebanding dengan besarnya jumlah maupun tenaga kerja yang diserapnya. Dengan menggunakan metode penelitian dan pengembangan, paper ini menawarkan gagasan melalui pembelajaran project-based learning yang memungkinkan mahasiswa, sejalan dengan tuntutan Merdeka Belajar Kampus Merdeka, untuk tidak sekedar belajar di kelas namun berkesempatan mengimplementasikan teori-teori yang telah mereka pelajari ke dalam praktik dunia usaha nyata. Aktivitas ini diharapkan tidak saja akan mampu memperdalam pemahaman atas teori, memperkaya bekal dalam menjawab tantangan masa depan yang lebih kompleks, serta menumbuhkan minat berwirausaha di kalangan mahasiswa, namun juga sekaligus akan dapat meningkatkan kualitas manajemen usaha di kalangan UMKM.
Proceedings of the 1st International Conference on Sustainable Management and Innovation, ICoSMI, 2020
Koperasi Peternak Sapi Bandung Utara (KPSBU) is a dairy breeding cooperative which produces dairy... more Koperasi Peternak Sapi Bandung Utara (KPSBU) is a dairy breeding cooperative which produces dairy products. Up to now, around 93,35 percent of its products are delivered exclusively to several big dairy factories. This condition brings pressure to bear on KPSBU in terms of price and any other conditions. To enhance its autonomy, KPSBU needs strategies to use to develop its business. This study aims to analyze the internal-external factors that will affect the KPSBU business system and offer recommendations on strategies for business development. The data collection used in this study is Primary data which obtained by field observations and direct interviews with experts including the internal-external factors that influence the cooperative business; head of manager, production division, and processed milk. At the input stage, we use the internal-external matrix, matching stage with the SWOT analysis, and at the decision stage, we employ the Quantitative Strategy Planning Matrix. The results show that the priority strategies for KPSBU are by optimizing business process digitally (6.17), doing a partnership with the area of tourist attraction to be the supplier of dairy products (5.99), as well as providing training for a dairy cattle breeder in risk mitigation and livestock management (5.84)
Berlainan dengan asset tradisional yang berwujud, intellectual capital merupakan hidden value yan... more Berlainan dengan asset tradisional yang berwujud, intellectual capital merupakan hidden value yang kurang memperoleh perhatian. Penelitian ini menguji pengaruh intellectual capital terhadap kinerja keuangan dan nilai perusahaan. Penelitian ini menggunakan metode value added intellectual coefficient (VAIC) sebagai indikator untuk menghitung nilai intellectual capital perusahaan. Kinerja keuangan diukur oleh empat indikator yaitu Return on Assets (ROA), Return on Equity (ROE), Debt to Assets (DAR) dan Debt to Equity (DER). Nilai Perusahaan diukur oleh indikator Earning per Share (EPS), Price to Earning Ratio (PER), Price to Book Value Ratio (PBV), dan Tobin’s Q. Penelitian ini menggunakan alat analisis Partial Least Square (PLS) dengan memanfaatkan aplikasi SmartPLS versi 3.2.2. Sampel dalam penelitian ini adalah perusahaan sektor keuangan pada Bursa Efek Indonesia pada 2017-2019. Hasil penelitian menunjukan bahwa terdapat pengaruh positif dan signifikan antara Intellectual Capital terhadap Kinerja Keuangan dan Nilai perusahaan.
Regulasi perbankan menuntut bank untuk mengelola struktur permodalan dengan bai... more Regulasi perbankan menuntut bank untuk mengelola struktur permodalan dengan baik, terutama yang berkaitan dengan kepemilikan manajerial, serta kebijakan pendanaan dan dividen. Tujuan utama penelitian ini adalah untuk menganalisis pengaruh kepemilikan manajerial terhadap kebijakan pendanaan dan dividen. Dengan menggunakan sampel 22 bank yang terdaftar pada BEI untuk periode 2008-2012, ditemukan bahwa kepemilikan manajerial tidak signifikan mempengaruhi kebijakan pendanaan, sementara pada kebijakan dividen pengaruhnya negatif dan signifikan.
Manajemen IKM: Jurnal Manajemen Pengembangan Industri Kecil Menengah, May 20, 2015
Pembiayaan mikro merupakan produk Bank Syariah Mandiri yang sedang berkembang pesat. Tujuan penel... more Pembiayaan mikro merupakan produk Bank Syariah Mandiri yang sedang berkembang pesat. Tujuan penelitian ini adalah untuk mengetahui faktor apa yang memengaruhi realisasi pembiayaan mikro serta karakteristik debitur pembiayaan mikro. Dengan analisis deskriptif dapat diketahui bahwa karakteristik debitur pembiayaan mikro didominasi oleh jenis kelamin pria, usia 31-40 tahun, pendidikan SMA, jumlah tanggungan keluarga 2-4 orang, lama usaha di atas 2 tahun, laba bersih per bulan Rp1.000.000-Rp5.000.000, jenis usaha didominasi perdagangan, mayoritas frekuensi pinjaman 1-3 kali, jumlah pembiayaan yang diajukan lebih dari Rp 20.000.000, nilai agunan nasabah lebih besar dari Rp50.000.000, dan jenis penggunaan adalah produktif. Menggunakan analisis regresi linear berganda dan melakukan uji F serta Uji T pada α = 5% terdapat tiga peubah yang secara nyata memengaruhi realisasi pembiayaan mikro, yaitu jenis usaha (perdagangan), jumlah pembiayaan yang diajukan dan nilai agunan.
This research presents an evaluation of the implementation of the Corporate Social Responsibility... more This research presents an evaluation of the implementation of the Corporate Social Responsibility programme based on the use of Fly Ash and Bottom Ash (FABA) waste. The form of programme implementation is the use of coal combustion waste to make products such as bricks and paving blocks. The products are used in the construction of livable houses, village road casting and soil stabilisation in several areas of Pacitan Regency, East Java. This research uses a qualitative descriptive approach by examining the social and economic impacts on local communities through six stages of Social Return on Investment (SROI) analysis. The measured social benefits were greater than the investment with a ratio of 2.4:1. This means that for every IDR 1 invested, IDR 2.4 benefits were realised. This shows that the programme has the potential for economic, social and environmental sustainability.
IOP Conf. Series: Earth and Environmental Science 1359, 2024
Industrial development has a detrimental impact on the Earth's rising surface temperature, primar... more Industrial development has a detrimental impact on the Earth's rising surface temperature, primarily due to greenhouse gas emissions. In Indonesia, the energy sector was the leading contributor to carbon emissions until 2022. This study aims to investigate the relationship between financial, carbon, and environmental performance and carbon emissions disclosure. The sample for this research was selected using a purposive sampling method, comprising 20 energy sector companies listed on the Indonesian Stock Exchange. Panel data regression analysis was conducted, with carbon emissions disclosure being the dependent variable and profitability, leverage, environmental performance, company size, and carbon performance as the independent variables. The study's results indicate that financial performance, environmental performance, and company size have a significant impact on carbon emissions disclosure, while leverage and carbon performance do not have a significant effect.
JURNAL ILMIAH MANAJEMEN BISNIS DAN INOVASI UNIVERSITAS SAM RATULANGI (JMBI UNSRAT), 2024
The number of companies conducting IPOs on the Indonesia Stock Exchange continues to increase so ... more The number of companies conducting IPOs on the Indonesia Stock Exchange continues to increase so that competition between companies also increases. One of the company's strategies to grow is the Initial Public Offering (IPO) to obtain additional capital. After an IPO, it is very important to conduct a financial performance assessment because it can affect the stock price and the value of a company. The purpose of this study is to describe the financial ratios and analyze the differences of the average financial performance before and after the IPO and describe the impact of the IPO on the financial performance of each company sector. The research method used was the wilcoxon signed ranks test and the MANOVA test on the financial statements of 48 companies that conducted IPOs in 2019. Based on the results of the study, there was a performance improvement in the ratio of liquidity and solvency, but in the ratio of profitability and activity, there was a decrease in performance. The results of the Wilcoxon signed ranks test showed that the ratio of profitability, solvency, liquidity, and activity had significant differences and the MANOVA test proved that the ratio of profitability, solvency, liquidity, and activity simultaneously had differences before and after the IPO Abstrak. Jumlah perusahaan yang melakukan IPO di Bursa
Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in the Indonesian economy, contr... more Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in the Indonesian economy, contributing 60.5% to the GDP, employing 96.9% of the workforce, and accounting for 15.69% of exports. However, MSMEs still face capital problems. Many of them struggle to access financial institutions due to their limited financial literacy. This research aims to identify the level of financial literacy among microbusinesses. The survey involved 60 respondents in the Cibinong District of Bogor Regency and analyzed how financial literacy levels and demographic factors influence microbusinesses' decisions regarding the use of financing products from micro financial institutions (MFIs). The analytical method employed in this study is logistic regression. The research results indicate that financial attitudes, education, and income have a significant positive impact on financing decision from micro financial institutions, while financial knowledge and behavior have a significant negative impact.
BUMN (state owned enterprise) as a business unit with most of the capital owned by the governemen... more BUMN (state owned enterprise) as a business unit with most of the capital owned by the governement has the main goal of obtaining a profit from the activities it carries out. This study aims to analyze the factors that influence the profitability of state-owned companies with gender as a moderating variable. The sampling method used is non-probability sampling with a purposive sampling technique. The samples generated from purposive sampling are 16 companies. The study used panel data regression analysis. The results showed that variables Current Ratio, Debt to Equity Ratio, and Growth Sales do not significantly influence ROA. The results of the moderation regression test showed that the gender variable does not have a moderating effect on the Current Ratio, Debt to Equity Ratio, and Growth Sales variables on ROA.
Globalisasi mempengaruhi pesatnya perkembangan teknologi dan ilmu pengetahuan. Perkembangan ini d... more Globalisasi mempengaruhi pesatnya perkembangan teknologi dan ilmu pengetahuan. Perkembangan ini diikuti munculnya perusahaan-perusahaan financial technology sehingga mendorong persaingan lebih ketat pada industri perbankan. Pengungkapan intellectual capital dalam laporan tahunan sebagai aset tidak berwujud dinilai meningkatkan keunggulan kompetitif perusahaan sehingga berpengaruh terhadap kinerja perusahaan dan harga sahamnya. Penelitian ini bertujuan menganalisis pengaruh pengungkapan intellectual capital sebagai aset tidak berwujud terhadap kinerja keuangan dan harga saham perusahaan subsektor perbankan yang terdaftar di Bursa Efek Indonesia periode 2018–2020. Pengambilan sampel dilakukan menggunakan metode purposive sampling, sementara analisis data menggunakan SEM-PLS. Hasilnya menunjukkan bahwa pengungkapan intellectual capital berpengaruh positif dan signifikan terhadap kinerja keuangan namun tidak berpengaruh positif dan signifikan terhadap harga saham perusahaan subsektor pe...
Palm oil is one of Indonesia's leading sectors. Palm oil companies on the IDX experienced a decli... more Palm oil is one of Indonesia's leading sectors. Palm oil companies on the IDX experienced a decline in profitability from 2016-2019. Some even had negative profits. One indicator to assess the company's performance is to look at the level of profitability. This study aims to analyze the effect of leverage, activity, liquidity, and sales growth on the profitability of palm oil companies for the 2016-2020 period. The sampling method used is non-probability sampling with a purposive sampling technique. This study uses panel data regression analysis. The results showed that Debt to Asset Ratio, Total Asset Turnover, and Current Ratio had a negative effect on ROA, while Working Capital Turnover had no effect on ROA, and sales growth had a positive effect on ROA.
Investment is one of the determining variables and has a positive effect on economic growth (GDP)... more Investment is one of the determining variables and has a positive effect on economic growth (GDP). Investing in stocks with large market capitalization will increase JKSE growth. IDX80 is an index consisting of 80 stocks that have high liquidity, large market capitalization, and good company fundamentals. This study aims to find a combination of stocks that meet the criteria in forming an optimal portfolio based on the Markowitz model and the Single Index Model also to find the best portfolio performance using Value at Risk. This study uses reports of monthly stock price, JKSE, and interest rates BI7DRR period February 2019-February 2022. The results show there are 17 stocks combination form the optimal portfolio of the Single Index Model with an expected return of 0.01882 and a variance value of 0.002582 per month. While the optimal portfolio formed by the Markowitz model produces six stocks combination, the expected return and variance are 0.002243 and 0.003866 per month, respectively. Based on comparison using Value at Risk, the optimal portfolio by the Single Index Model is better than the Markowitz model because it has the highest expected return, the best risk, the lowest possible loss, and the best portfolio performance.
The increase in the number of investors until 2021 reached 201.5% compared to 2019. The increase ... more The increase in the number of investors until 2021 reached 201.5% compared to 2019. The increase was dominated by students and college students. The number of investors who increased drastically remains small, compared to the total population of Indonesian society. The subject of this study are undergraduate students at IPB University. This study aims to analyze the factors that influence the interest in investing during Covid-19 pandemic through undergraduate students at IPB University. The factors being studied were investment knowledge, investment motivation, and technological progress. The samples used in this study were 100 college students, for sampling each faculty using the Quota Sampling method. The analysis method used in this study were descriptive analysis and Structural Equation Modeling (SEM)-PLS. The result of analysis show that the investment knowledge factor did not affect significantly, while investment motivation and technological progress had a positive and significant effect on the investment interest of undergraduate students at GL University during the Covid-19 Pandemic. The results that investment knowledge does not have a significant effect on investment interest need to be considered so that it does not produce a negative impact. The research will be immensely useful to different stakeholders such as government, policymakers, financial advisors, and investors in making their strategic or operational decisions.
Program "What If" mengajarkan materi literasi keuangan dengan mengacu pada "Buku Literasi Keuanga... more Program "What If" mengajarkan materi literasi keuangan dengan mengacu pada "Buku Literasi Keuangan untuk Sekolah Menengah Atas" yang diterbitkan oleh Otoritas Jasa Keuangan (OJK). Model dan media pembelajaran ini didesain sesuai dengan kebutuhan siswa SMAN 1 Sigaluh. Pelaksanaaan program "What If" diikuti oleh 14 siswa SMA N 1 Sigaluh yang berasal dari kelas 12. Media pembelajarannya beragam, yaitu menggunakan google classroom, video conference, WhatsApp dan website "https://pkmwhatif.com/". Program "What If" merupakan inovasi dari pembelajaran perencanaan keuangan pada siswa SMA dengan metode konsekuensi dan risiko, sehingga membantu dalam memahami pengambilan keputusan keuangan yang baik. "What If" berhasil meningkatkan literasi keuangan, sehingga yang well literate menjadi 78,84 %. Selain itu, tingkat inklusi keuangan menjadi sebesar 88,75%.
Globalization influences the rapid development of technology and science. This development was fo... more Globalization influences the rapid development of technology and science. This development was followed by the emergence of financial technology companies which increased the banking industry's fierce competition. Disclosure of intellectual capital in the annual report as an intangible asset can increase the company's competitive advantage, affecting the financial performance and stock price. This study aims to analyze the effect of intellectual capital disclosure as an intangible asset owned by a company on the financial performance and stock prices of banking subsector companies listed on the Indonesia Stock Exchange for the 2018–2020 period. The sampling technique was carried out using the purposive sampling method, while the data was analyzed using SEM-PLS. The results showed that the disclosure of intellectual capital had a positive and significant effect on financial performance but did not positively affect the company's stock price.
The stock market is one of the alternatives chosen by companies to meet their funding needs. The ... more The stock market is one of the alternatives chosen by companies to meet their funding needs. The first offering of a company's shares through the stock market to investors is called an Initial Public Offering. At the time of initial public offering, underpricing often occurs when the initial stock price on the primary market is lower than the stock price on the secondary market which will disadvantage the company because the collected funds are not maximum. This research aims to analyze the effect of macroeconomic factors on underpricing in companies conducting IPOs listed on the
Investing in stock instruments in the capital market is interesting for many investors, both loca... more Investing in stock instruments in the capital market is interesting for many investors, both local and foreign. However, when the price of stocks is considered too expensive, that will reduce the purchasing power of investors towards these shares and the liquidity of the shares will decrease as well that will impact the decreasing returns of investors. Overcoming this condition, companies often take corporate action in the form of a stock split. This study analyzes the effect of stock split on abnormal returns of companies listed on the Indonesia Stock Exchange in 2015-2019. Using a purposive sampling method (nonprobability sampling) we obtained 34 companies as a research sample. We use the event study approach for data processing in finding abnormal returns and t-test as well. This study classifies samples into two categories, complex sample category, and sectoral industries. The result shows that for the complex category, there are three out of eleven days of events that have an impact on abnormal returns marked by the t-test results greater than t-table. Whereas in each sectoral industries there are only five affected sectors, three unaffected sectors and one sector cannot be tested due to insufficient data. This result is also consistent with theories related to the stock split, signaling theory, and trading range theory.
Pandemi COVID-19 mendorong peningkatan penjualan produk-produk kesehatan seperti masker, handsani... more Pandemi COVID-19 mendorong peningkatan penjualan produk-produk kesehatan seperti masker, handsanitizer, obat-obatan dan lain-lain. Sebagai pemimpin pasar e-marketplace yang sedang berkembang di Indonesia, Shopee menyediakan fitur online consumer review dan rating pada platformnya. Penelitian ini bertujuan untuk menganalisis pengaruh online consumer review dan rating terhadap minat beli produk kesehatan pada e-marketplace Shopee selama masa pandemi COVID-19 di Jabodetabek. Penarikan sampel dilakukan dengan teknik purposive sampling. Metode yang digunakan dalam penelitian ini adalah analisis deskriptif dan SEM-PLS, dengan responden sebanyak 191 orang. Hasil analisis menunjukkan variabel online consumer review dan rating berpengaruh positif dan signifikan terhadap minat beli produk kesehatan dengan variabel rating memiliki pengaruh lebih dominan.
As management has the authority over the financial statements issued by the company, much of earn... more As management has the authority over the financial statements issued by the company, much of earnings management is trying to overhaul profits or what is called earnings engineering. One of the profit engineering techniques is income smoothing, which rules profits in order to reduce fluctuation. This study aims to analyze the effects of financial leverage and profitability on income smoothing. The object of this research is the IDX Quality 30 index (IDXQ30) Non-Bank for the 2015-2019 period. The data used is secondary data obtained from the companies' financial statements during the 2015-2019 period and literature studies. The method used in this research is binary logistic regression analysis with Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Net Profit Margin (NPM) as independent variables and Eckel Index as dependent variable. The results showed that simultaneously DER, ROA, and NPM have a significant effect on income smoothing. Partially, DER and ROA have no effect on income smoothing, while NPM variable has a significant negative effect on income smoothing.
Salah satu pihak yang terdampak hebat oleh pandemi Covid-19 adalah usaha mikro, kecil, dan meneng... more Salah satu pihak yang terdampak hebat oleh pandemi Covid-19 adalah usaha mikro, kecil, dan menengah. Kondisi ini mengkhawatirkan mengingat mayoritas pelaku usaha di Indonesia termasuk ke dalam kelompok ini dan menyerap sebagian besar tenaga kerja. Selama ini pun, karena beragam kendala yang dihadapi, menjadikan kinerja UMKM masih lemah dan kontribusinya terhadap produk domestik bruto tidaklah sebanding dengan besarnya jumlah maupun tenaga kerja yang diserapnya. Dengan menggunakan metode penelitian dan pengembangan, paper ini menawarkan gagasan melalui pembelajaran project-based learning yang memungkinkan mahasiswa, sejalan dengan tuntutan Merdeka Belajar Kampus Merdeka, untuk tidak sekedar belajar di kelas namun berkesempatan mengimplementasikan teori-teori yang telah mereka pelajari ke dalam praktik dunia usaha nyata. Aktivitas ini diharapkan tidak saja akan mampu memperdalam pemahaman atas teori, memperkaya bekal dalam menjawab tantangan masa depan yang lebih kompleks, serta menumbuhkan minat berwirausaha di kalangan mahasiswa, namun juga sekaligus akan dapat meningkatkan kualitas manajemen usaha di kalangan UMKM.
Proceedings of the 1st International Conference on Sustainable Management and Innovation, ICoSMI, 2020
Koperasi Peternak Sapi Bandung Utara (KPSBU) is a dairy breeding cooperative which produces dairy... more Koperasi Peternak Sapi Bandung Utara (KPSBU) is a dairy breeding cooperative which produces dairy products. Up to now, around 93,35 percent of its products are delivered exclusively to several big dairy factories. This condition brings pressure to bear on KPSBU in terms of price and any other conditions. To enhance its autonomy, KPSBU needs strategies to use to develop its business. This study aims to analyze the internal-external factors that will affect the KPSBU business system and offer recommendations on strategies for business development. The data collection used in this study is Primary data which obtained by field observations and direct interviews with experts including the internal-external factors that influence the cooperative business; head of manager, production division, and processed milk. At the input stage, we use the internal-external matrix, matching stage with the SWOT analysis, and at the decision stage, we employ the Quantitative Strategy Planning Matrix. The results show that the priority strategies for KPSBU are by optimizing business process digitally (6.17), doing a partnership with the area of tourist attraction to be the supplier of dairy products (5.99), as well as providing training for a dairy cattle breeder in risk mitigation and livestock management (5.84)
Berlainan dengan asset tradisional yang berwujud, intellectual capital merupakan hidden value yan... more Berlainan dengan asset tradisional yang berwujud, intellectual capital merupakan hidden value yang kurang memperoleh perhatian. Penelitian ini menguji pengaruh intellectual capital terhadap kinerja keuangan dan nilai perusahaan. Penelitian ini menggunakan metode value added intellectual coefficient (VAIC) sebagai indikator untuk menghitung nilai intellectual capital perusahaan. Kinerja keuangan diukur oleh empat indikator yaitu Return on Assets (ROA), Return on Equity (ROE), Debt to Assets (DAR) dan Debt to Equity (DER). Nilai Perusahaan diukur oleh indikator Earning per Share (EPS), Price to Earning Ratio (PER), Price to Book Value Ratio (PBV), dan Tobin’s Q. Penelitian ini menggunakan alat analisis Partial Least Square (PLS) dengan memanfaatkan aplikasi SmartPLS versi 3.2.2. Sampel dalam penelitian ini adalah perusahaan sektor keuangan pada Bursa Efek Indonesia pada 2017-2019. Hasil penelitian menunjukan bahwa terdapat pengaruh positif dan signifikan antara Intellectual Capital terhadap Kinerja Keuangan dan Nilai perusahaan.
Regulasi perbankan menuntut bank untuk mengelola struktur permodalan dengan bai... more Regulasi perbankan menuntut bank untuk mengelola struktur permodalan dengan baik, terutama yang berkaitan dengan kepemilikan manajerial, serta kebijakan pendanaan dan dividen. Tujuan utama penelitian ini adalah untuk menganalisis pengaruh kepemilikan manajerial terhadap kebijakan pendanaan dan dividen. Dengan menggunakan sampel 22 bank yang terdaftar pada BEI untuk periode 2008-2012, ditemukan bahwa kepemilikan manajerial tidak signifikan mempengaruhi kebijakan pendanaan, sementara pada kebijakan dividen pengaruhnya negatif dan signifikan.
Manajemen IKM: Jurnal Manajemen Pengembangan Industri Kecil Menengah, May 20, 2015
Pembiayaan mikro merupakan produk Bank Syariah Mandiri yang sedang berkembang pesat. Tujuan penel... more Pembiayaan mikro merupakan produk Bank Syariah Mandiri yang sedang berkembang pesat. Tujuan penelitian ini adalah untuk mengetahui faktor apa yang memengaruhi realisasi pembiayaan mikro serta karakteristik debitur pembiayaan mikro. Dengan analisis deskriptif dapat diketahui bahwa karakteristik debitur pembiayaan mikro didominasi oleh jenis kelamin pria, usia 31-40 tahun, pendidikan SMA, jumlah tanggungan keluarga 2-4 orang, lama usaha di atas 2 tahun, laba bersih per bulan Rp1.000.000-Rp5.000.000, jenis usaha didominasi perdagangan, mayoritas frekuensi pinjaman 1-3 kali, jumlah pembiayaan yang diajukan lebih dari Rp 20.000.000, nilai agunan nasabah lebih besar dari Rp50.000.000, dan jenis penggunaan adalah produktif. Menggunakan analisis regresi linear berganda dan melakukan uji F serta Uji T pada α = 5% terdapat tiga peubah yang secara nyata memengaruhi realisasi pembiayaan mikro, yaitu jenis usaha (perdagangan), jumlah pembiayaan yang diajukan dan nilai agunan.
Memperkenalkan ringkasan materi dasar mengenai rasio-rasio keuangan yang lazim dimanfaatkan dalam... more Memperkenalkan ringkasan materi dasar mengenai rasio-rasio keuangan yang lazim dimanfaatkan dalam menganalisis kinerja keuangan sebuah perusahaan.
Memberikan panduan dasar langkah-langkah yang perlu diperhatikan dalam melakukan penelitian bidan... more Memberikan panduan dasar langkah-langkah yang perlu diperhatikan dalam melakukan penelitian bidang keuangan dan akuntansi.
Memperkenalkan pengetahuan dasar mengenai otoritas moneter serta pengawas perbankan, perbankan, s... more Memperkenalkan pengetahuan dasar mengenai otoritas moneter serta pengawas perbankan, perbankan, serta lembaga keuangan nonbank.
Meningkatnya kasus kebangkrutan yang terjadi pada korporasi besar menuntun kepada perhatian yang ... more Meningkatnya kasus kebangkrutan yang terjadi pada korporasi besar menuntun kepada perhatian yang lebih dalam terhadap penerapan corporate governance. Paper ini menganalisis pengaruh komite audit, jumlah komisaris, komposisi dewan komisaris, struktur kepemilikan dan keterbukaan, serta ukuran perusahaan terhadap manajemen laba. Sampel mencakup 26 bank yang berasal dari beragam tingkatan aset, terbuka maupun tertutup, pada kurun waktu 2007-2011. Dengan menggunakan Jones Model yang dimodifikasi (1995) dan regresi linear berganda, kami menemukan bahwa hanya komite audit serta komposisi dewan komisaris yang secara signifikan mempengaruhi manajemen laba.
The Agreement on Trade in Goods (TIG) of the Framework Agreement on Comprehensive Economic Cooper... more The Agreement on Trade in Goods (TIG) of the Framework Agreement on Comprehensive Economic Cooperation between ASEAN and China has been signed on 29 November 2004. Under the TIG agreement, the modalities for tariff reduction and elimination have been laid down where for ASEAN 6 and China, most of the tariffs will be completely eliminated by 2010 while CLMV countries, tariffs will be eliminated by 2015. The Agreement also provides for the subsequent liberalization of products sensitive to all parties and the elimination of non-tariff barriers.
Sangat penting berikhtiar untuk terus meningkatkan literasi keuangan pasar modal pada generasi mu... more Sangat penting berikhtiar untuk terus meningkatkan literasi keuangan pasar modal pada generasi muda. Namun, upaya meningkatkan literasi keuangan pasar modal di kalangan generasi muda tidaklah mudah dan membutuhkan usaha yang berkelanjutan dari semua pihak. Dan dengan strategi yang tepat, diharapkan generasi muda Indonesia dapat menjadi investor yang cerdas dan bertanggung jawab.
Terlalu mengandalkan nasib pada seseorang sangat berisiko dan dapat memengaruhi masa depan organi... more Terlalu mengandalkan nasib pada seseorang sangat berisiko dan dapat memengaruhi masa depan organisasi.
Secara umum masyarakat Indonesia belum memahami dengan baik karakteristik berbagai produk dan lay... more Secara umum masyarakat Indonesia belum memahami dengan baik karakteristik berbagai produk dan layanan jasa keuangan.
Manajemen yang menaungi para artis perlu mengalokasikan dengan bijaksana uang yang diterima, sepe... more Manajemen yang menaungi para artis perlu mengalokasikan dengan bijaksana uang yang diterima, seperti untuk jaminan hari tua para artisnya.
Seseorang harus mampu menemukan momentum dalam situasi apa pun. Ilustrasi memanfaatkan momentum d... more Seseorang harus mampu menemukan momentum dalam situasi apa pun. Ilustrasi memanfaatkan momentum dan peluang.
Pedagang harus terus didorong untuk memanfaatkan kemajuan teknologi agar berkesempatan memajukan ... more Pedagang harus terus didorong untuk memanfaatkan kemajuan teknologi agar berkesempatan memajukan usahanya.
Rendahnya persentase perusahaan keluarga yang mampu bertahan hingga generasi kedua atau ketiga me... more Rendahnya persentase perusahaan keluarga yang mampu bertahan hingga generasi kedua atau ketiga menunjukkan beratnya tantangan yang dihadapi oleh pendiri, salah satunya memastikan manajemen suksesi dapat berjalan mulus tanpa gejolak. Menyiapkan generasi penerus memang bukanlah tugas mudah yang harus dilakukan oleh pendiri perusahaan keluarga.
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Papers by Ali Mutasowifin
investor yang cerdas dan bertanggung jawab.