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All Journal Journal of Economics and Economic Policy International Journal of Economic Integration and Regional Competitiveness Journal of Artificial Intelligence and Digital Economy
Wiwit Hariyanto
Muhammadiyah University of Sidoarjo, Indonesia
Economics, Econometrics & Finance Social Sciences

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BUSINESS RISK, DIVIDEND POLICY, CAPITAL STRUCTURE ON FINANCIAL PERFORMANCE: A STUDY IN INDONESIAN PHARMACEUTICAL COMPANIES Nurasik; Endra Wahyu Ningdiyah; Wiwit Hariyanto
International Journal of Economic Integration and Regional Competitiveness Vol. 1 No. 10 (2024): Journals International Journal of Economic Integration and Regional Competitiv
Publisher : Antis Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijeirc.v1i10.275

Abstract

General Background: Financial performance is a key determinant of a company's success and sustainability, particularly in the pharmaceutical industry, which faces unique challenges such as regulatory requirements, innovation costs, and market competition. Specific Background: In Indonesia, the pharmaceutical sector has shown significant growth, but companies face risks related to business dynamics, financial decision-making, and investment strategies. Factors such as business risk, dividend policy, and capital structure are critical in shaping financial outcomes. Knowledge Gap: Despite extensive studies on financial performance determinants, limited research focuses on how these factors interact specifically within the Indonesian pharmaceutical context, particularly over recent years. Aims: This study aims to analyze the effects of business risk, dividend policy, and capital structure on financial performance in Indonesian pharmaceutical companies during the 2017–2023 period. Results: The findings reveal that business risk significantly impacts financial performance, highlighting the importance of risk management in operational and strategic planning. Similarly, dividend policy influences financial performance, underscoring the role of payout strategies in shareholder value creation. Capital structure also affects financial performance, indicating the critical balance required between debt and equity financing. Novelty: This research offers new insights into the interplay of these factors in the pharmaceutical sector, using a focused dataset of eight companies, and provides empirical evidence specific to the Indonesian market. Implications: The study suggests that pharmaceutical companies must adopt comprehensive financial management practices to mitigate risks, optimize capital structures, and design effective dividend policies. Policymakers and industry stakeholders can use these findings to develop frameworks that support sustainable growth in the pharmaceutical sector. Further research could expand on this foundation to explore other factors influencing financial performance across different industries and regions.
THE UTILIZATION OF BEHAVIORAL FINANCE MODELS IN ANALYZING INVESTMENT DECISIONS Bagas Adi Prayoga; Wiwit Hariyanto
International Journal of Economic Integration and Regional Competitiveness Vol. 2 No. 7 (2025): International Journal of Economic Integration and Regional Competitiveness
Publisher : Antis Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijeirc.v2i7.402

Abstract

Objective: This study analyzes the impact of student financial behavior on investment decisions using a Behavioral Finance model. Method: Data were collected through interviews and observations with a descriptive qualitative approach. Result: The findings show that financial behaviors, such as adherence to payment schedules, budgeting, and price comparison, significantly influence investment choices. Emotional and psychological factors, like status quo bias, risk aversion, and overconfidence, also affect decision-making, often leading to suboptimal outcomes. Interviews confirm that these factors frequently hinder rational choices. However, the study’s limitations include sample representation and generalizability. Novelty: This research contributes to understanding Behavioral Finance in investment decisions and highlights the need for better financial education, emphasizing how behavioral and psychological aspects shape students’ investment behaviors.
FINANCIAL DISTRESS IN TRANSPORTATION AND LOGISTIC COMPANIES IN INDONESIA : COMPARATIVE STUDY OF THE COVID-19 PANDEMIC CRISIS Eka Frema Hidayati; Wiwit Hariyanto
International Journal of Economic Integration and Regional Competitiveness Vol. 2 No. 9 (2025): International Journal of Economic Integration and Regional Competitiveness
Publisher : Antis Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijeirc.v2i9.412

Abstract

Objective: This study aims to analyze the differences in the level of financial distress among transportation and logistics sompanies in Indonesia between the periode during the pandemic Covid-19 (2020-2021) and after the pandemic Covid-19 (2022-2023). Method: The research sample consisted of 30 companies that met the criteria using purposive sampling techniques. The method use id a quantitative approach with descriptive statistical analysis, normality testing, and a mean difference test. Results: The result show that there is a significant difference between the two periods, with a significant value 0f 0,034 < 0,05. The average level of financial distress increased after the pandemic, accompanied by a decrease in standard deviation, indicating improvements and greater stability in the financial condition of companies post-pandemic. Novelty: These findings support signaling theory, in which changes in a company’s financial condition reflect positive or negative signals to the market and stakeholders.
ABNORMAL RETURN (AR) AND TRADING VOLUME ACTIVITY (TVA) ON FIRM VALUE IN BANKING COMPANIES IN INDONESIA Wiwit Hariyanto; Endra Wahyu Ningdiyah; Fitiyan Izzah Noor Abidin
Journal of Artificial Intelligence and Digital Economy Vol. 1 No. 11 (2024): Journal of Artificial Intelligence and Digital Economy
Publisher : PT ANTIS INTERNATIONAL PUBLISHER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/jaide.v1i11.1154

Abstract

Objective: The study aims to evaluate the influence of Abnormal Return (AR) and Trading Volume Activity (TVA) on the Firm Value of banking companies in Indonesia during the 2019-2023 period. Methods: This quantitative research utilizes secondary data from 13 banking companies selected through purposive sampling, yielding a total of 65 observations (13 companies × 5 years). Data were analyzed using multiple linear regression, processed with SPSS version 27. Results: The findings reveal that both Abnormal Return and Trading Volume Activity significantly influence the Firm Value of banking companies in Indonesia during the specified period. Novelty: This study contributes to the literature by focusing on the dual impact of AR and TVA on Firm Value specifically within the banking sector in Indonesia, providing insights into financial performance dynamics during the 2019-2023 period.
ACCOUNTING PARADIGM WITH THE PRESENCE OF ARTIFICIAL INTELLIGENCE Muhammad Tegar Hidayatullah; Wiwit Hariyanto
Journal of Artificial Intelligence and Digital Economy Vol. 2 No. 6 (2025): Journal of Artificial Intelligence and Digital Economy
Publisher : PT ANTIS INTERNATIONAL PUBLISHER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/jaide.v2i6.1532

Abstract

Objective: This study aims to explore how the emergence of Artificial Intelligence (AI) has transformed the paradigm of accounting practitioners, both in professional practice and accounting education. Method: The research adopts a qualitative approach with primary data sources, using data triangulation techniques to ensure the validity and reliability of findings. The study focuses on understanding the extent to which AI influences accounting professionals’ perspectives and work processes. Results: The findings indicate that the integration of AI has opened new opportunities for accounting practitioners to enhance their knowledge and adapt to technological innovations. AI contributes to the development of efficient financial databases, improved auditing processes, and more accurate financial reporting. Novelty: This study highlights the paradigm shift among accounting practitioners toward embracing AI-driven systems, emphasizing the evolving role of accountants from traditional record-keeping to strategic data analysis and decision support in the digital era.
THE UTILIZATION OF BEHAVIORAL FINANCE MODELS IN ANALYZING INVESTMENT DECISIONS Bagas Adi Prayoga; Wiwit Hariyanto
Journal of Economic and Economic Policy Vol. 2 No. 3 (2025): Journal of Economics and Economic Policy
Publisher : PT. Antis International Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijecep.v2i3.63

Abstract

Objective: This study analyzes the impact of student financial behavior on investment decisions using a Behavioral Finance model. Method: Data were collected throgh interviews and observations with a descriptive qualitative approach. Results: The findings show that financial behaviors, such as adherence to payment schedules, budgeting and price comparison, significantly influence investment choices. Emotiona and psycological factors, like status quo bias, risk aversion, and overconfidance, also affect decision-making, often leading to suboptimal outcomes. Interviews confirm that these factors frequently hinder rational choices. Howefer, the study’s limitations include sample representation and generalizabillity. Novelty: This research contributes to understanding Behavioral Finance in Investment Decisions and highlights the need for better financial education.
PROFIT MARGIN AND INVENTORY TURNOVER : HOW DO THEY AFFECT FINANCIAL DISTRESS IN RETAIL COMPANIES LISTED ON THE IDX 2019-2023 PERIOD IN THE ERA OF TECHNOLOGICAL DISRUPTION? Inge Sulistyo; Wiwit Hariyanto
Journal of Economic and Economic Policy Vol. 2 No. 4 (2025): Journal of Economics and Economic Policy
Publisher : PT. Antis International Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijecep.v2i4.72

Abstract

Objective: This study aims to determine profit margin and inventory turnover on financial distress in retail companies that go public on the Indonesia Stock Exchange (IDX) in the era of technological disruption. Method: This study is a quantitative study with a population taken from retail companies listed on the Indonesia Stock Exchange (IDX) for the 2019 – 2023 period. The research sample was 14 companies that met the criteria using purposive sampling techniques. The data analysis technique used multiple linear regression with SPSS software ver 23. Results: Based on the results of the research that has been conducted, it shows that : (1) Profit margin have an effect on financial distress and (2) Inventory turnover have an effect on financial distress in retail companies listed on the Indonesia Stock Exchange in 2019-2023. Novelty: This study provides a novel insight by focusing on the impact of profit margin and inventory turnover on financial distress specifically in publicly listed retail companies during the era of technological disruption in Indonesia, a context that has been rarely explored in previous research.
Co-Authors Bagas Adi Prayoga Eka Frema Hidayati Endra Wahyu Ningdiyah Fitiyan Izzah Noor Abidin Inge Sulistyo Muhammad Tegar Hidayatullah Nurasik