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Comparison of Markowitz and Genetic Algorithm Models for Saudi Arabian Stocks Mega Tri Candeni; Dwi Eko Waluyo; Ana Kadarningsih; Yenny Ernitawati
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/z0rwmk14

Abstract

This study aims to compare the Markowitz method and the Genetic Algorithm in forming an optimal portfolio in the Saudi Arabian stock market, which is known to have dynamic characteristics and high levels of volatility due to the influence of economic reforms, oil price fluctuations, and integration with global markets. The study uses daily closing price data for companies indexed in the Tadawul All Share Index for the period January 2, 2022, to October 30, 2025, obtained through Yahoo Finance. Sample selection uses a purposive sampling method based on data completeness and Coefficient of Variation selection. The optimization process is carried out using the Python programming language through the Efficient Frontier Markowitz approach and the Genetic Algorithm. While portfolio performance evaluation is carried out using the Sharpe Ratio, Sortino Ratio, and Omega Ratio to obtain a more comprehensive assessment of risk and return efficiency. The results show that the Markowitz method tends to produce higher expected returns, but with a greater level of risk, while the Genetic Algorithm produces a portfolio with a relatively lower level of risk and more stability. Furthermore, conventional stock portfolios performed better than Islamic stock portfolios based on the performance ratio evalu-ation used. This finding suggests that portfolio optimization methods should be tailored to investor risk preferences and the characteristics of the investment market.
Peran Financial Self-Efficacy dalam Memediasi Pengaruh Social Comparison Orientation dan Financial Literacy terhadap Financial Management Behavior Generasi Z di Jepara Devi Atalia Zahra; Vicky Oktavia; Diana Puspitasari; Yenny Ernitawati
Jurnal Multidisiplin Indonesia Vol. 4 No. 2 (2026): Juni: Jurnal Multidisiplin Indonesia
Publisher : PT. ALHAFI BERKAH INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62007/joumi.v4i2.853

Abstract

This research explores financial self-efficacy as a mediator in the influence of social comparison orientation and financial literacy on the financial management behavior of Generation Z in Jepara. Data from 140 purposively selected respondents were analyzed using the PLS-SEM approach (SmartPLS 4.0) to examine the direct and indirect effects between variables via path analysis. The results showed that Financial Literacy has a positive and significant effect on both Financial Self-Efficacy and Financial Management Behavior. In addition, Financial Self-Efficacy also has a positive and significant effect on Financial Management Behavior. Social Comparison Orientation was proven to have a positive and significant effect on Financial Management Behavior, but it does not have a significant effect on Financial Self-Efficacy. Financial Self-Efficacy was proven It can mediate the influence of Financial Literacy on Financial Management Behavior, but it cannot mediate the influence of Social Comparison Orientation on Financial Management Behavior. So, it's proven that Financial Literacy and Financial Self-Efficacy play an important role in improving Financial Management Behavior among Generation Z in Jepara behavior among Generation Z in Jepara is influenced by financial knowledge and Financial Self-Efficacy.
Analisa Profile Matching Untuk Deccision Support System Pemilihan Staf Divisi Keuangan Perguruan Tinggi Dian Prawitasari; Aries Setiawan; Ichwan Ichwan Setiarso; Budi Widjajanto; Yulita Setiawanta; Ngurah Pandji Mertha Agung Durya; Yenny Ernitawati; Lely Kusumaningrum Kusumaningrum
Jurnal Transformatika Vol. 23 No. 1 (2025): July 2025
Publisher : Jurusan Teknologi Informasi Universitas Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26623/transformatika.v23i1.12347

Abstract

Beberapa permasalahan terkait divisi keuangan diantaranya terkait keterlambatan pembuatan laporan yang disebabkan inputan data yang tidak uptodat, kurangnya kompetensi pembuatan laporan keuanga, pelayanan pembayaran mahasiswa yang belum maksimal dikarenakan staf yang kurang menguasai permasalahan pembayaran mahasiswa, kurangnya kerjasama antar staf yang mengakibatkan sebuah proses pekerjaan menjadi terhambat dan kompetensi staf yang kurang sesuai dengan pekerjaan. Staf divisi keuangan perlu  memenuhi beberapa standar kualitas yang meliputi relevansi program studi dengan sub bagian dalam divisi keuangan, reputasi karir, minat, tipe kepribadian,  kecermatan dan  kepercayaan. Perlu dilakukan pemilihan secara obyektif dengan metode profile matching untuk menghasilkan  staf yang berkompeten. Hasil pengukuran sebesar 0,89% yang menunjukkan bahwa metode ini mampu memberikan dukungan dalam proses pemilihan staf divisi keuangan  
Program Pemberdayaan Pemasaran Digital Dalam Rangka Meningkatkan Kinerja Bisnis Koperasi Pengrajin Batik Kota Tegal Cempaka Mulya Sih Darmi Astuti; Mahmud Mahmud; Tito Aditya Perdana; Yenny Ernitawati
Jurnal Pengabdian kepada Masyarakat Indonesia (JPKMI) Vol. 6 No. 1 (2026): April: Jurnal Pengabdian Kepada Masyarakat Indonesia (JPKMI) 
Publisher : AMIK Veteran Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/jpkmi.v6i1.10558

Abstract

This community service program aims to enhance the marketing performance and online sales of the “Cempaka Mulya” Batik Craftsmen Cooperative in Tegal City through digital marketing empowerment supported by artificial intelligence. The cooperative’s main challenges include low digital literacy, suboptimal content quality, low social media engagement, and online sales contributing less than 10 percent of total revenue. The program was implemented from June to November 2025 using three core approaches: education, intensive training, and mentoring based on the Technology Acceptance Model (TAM) and the Unified Theory of Acceptance and Use of Technology (UTAUT). The methods consisted of five training sessions (40 hours), hands-on content creation using AI Gemini, Canva, and CapCut, and pre–post evaluations through questionnaires, observations, interviews, and analysis of Instagram Business and Shopee Seller Center data. The results indicate significant improvements across all digital skill indicators (average increase of 228 percent), particularly in the use of generative AI (+923 percent). Social media performance rose substantially, marked by an increase in engagement rate from 1.8 percent to 9.4 percent, reach growth of up to 682 percent, and a 350 percent increase in posting frequency. Online sales contribution increased to 35–42 percent of total revenue, generating an additional income of approximately IDR 6.9–10.1 million per month. Qualitative findings reveal strong behavioral changes, including greater confidence and consistency in content production. The integrated intensive training, real-time mentoring, and the use of generative AI proved highly effective in accelerating the digital transformation of batik-based MSMEs. Key recommendations include establishing a content SOP, strengthening the cooperative’s content team, and replicating this model across other craft-based MSMEs in Tegal City