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All Journal EKUITAS (Jurnal Ekonomi dan Keuangan) Factory Jurnal Industri, Manajemen dan Rekayasa Sistem Industri
Muhammad Saiful Hakim
Institut Teknologi Sepuluh Nopember, Surabaya
Economics, Econometrics & Finance Industrial & Manufacturing Engineering

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MITIGATING OVERCONFIDENCE BIAS IN INVESTMENT BEHAVIOR: THE ROLES OF FINANCIAL LITERACY AND DIGITAL FINANCIAL LITERACY Muhammad Saiful Hakim; Radini Vindy Setyaningrum; Rizki Dini Sandra Yunita; Ninditya Nareswari
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6959

Abstract

Previous researches have suggested the role of financial literacy in mitigating the effects of overconfidence bias. Nevertheless, there is currently no research available on the examination of digital financial literacy in mitigating the impact of overconfidence bias. Therefore, this study investigates the association between overconfidence bias and investment behavior, with a focus on the mitigating roles of financial literacy and digital financial literacy. Using the PLS-SEM approach in testing the hypotheses, this study sample comprises individuals from the millennial generation who routinely utilize investment applications on their mobile phones. The empirical result shows that overconfidence bias has a strong association with investment behavior. In addition, our findings indicate that possessing financial literacy has a beneficial effect in reducing the influence of overconfidence bias. However, the digital financial literacy has contrasting effects. Individuals with a greater level of digital financial literacy are more likely to have confidence in their decision-making abilities, as they believe they have a better understanding of financial applications.
Evaluasi Kinerja Keuangan Pasca Akuisisi: Studi Kasus Perusahaan EPCI Global (McDermott-CB&I) Maulidin Iqbal Firmansyah; Muhammad Saiful Hakim
Factory Jurnal Industri, Manajemen dan Rekayasa Sistem Industri Vol. 4 No. 1 (2025): Edisi Agustus
Publisher : Ilmu Bersama Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56211/factory.v4i1.1078

Abstract

Penelitian ini bertujuan untuk mengevaluasi dampak akuisisi CB&I terhadap kinerja keuangan McDermott International Ltd., perusahaan multinasional di sektor Engineering, Procurement, Construction, and Installation (EPCI). Studi ini menggunakan pendekatan kuantitatif deskriptif-komparatif dengan menganalisis data laporan keuangan tahunan McDermott pada periode pra-merger (2016–2017) dan pasca-restrukturisasi (2021–2022). Metode analisis yang digunakan adalah paired sample t-test (α = 0,05) pada enam rasio keuangan utama, didukung oleh benchmarking terhadap tiga perusahaan sejenis, yaitu TechnipFMC, Saipem, dan Subsea7. Hasil penelitian menunjukkan bahwa Return on Equity (ROE), Return on Assets (ROA), dan Total Asset Turnover mengalami penurunan yang signifikan secara statistik (p < 0,05), yang mencerminkan terjadinya degradasi efisiensi modal dan produktivitas aset setelah akuisisi. Sebaliknya, perubahan pada Quick Ratio, Inventory Turnover, dan Debt to Asset Ratio tidak signifikan secara statistik, mengindikasikan fluktuasi jangka pendek yang lebih bersifat situasional. Temuan ini menegaskan kegagalan integrasi pasca-merger, serta pentingnya penguatan tata kelola dan strategi pemulihan berbasis keberlanjutan untuk memastikan keberlanjutan bisnis. Penelitian ini memberikan kontribusi empiris pada literatur evaluasi merger dan akuisisi di sektor proyek kompleks serta dapat menjadi rujukan bagi praktik manajemen strategis dan tata kelola perusahaan.
Co-Authors Maulidin Iqbal Firmansyah Ninditya Nareswari Radini Vindy Setyaningrum Rizki Dini Sandra Yunita