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Do Global Factors Drive Herd Behavior in Asymmetric: Evidence from Indonesia, Malaysia, and Thailand Gusni, Gusni; Komariah, Siti; Riantani, Suskim
Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 13 No. 2: June 2024
Publisher : Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34010/jika.v13i2.12629

Abstract

The occurrence of several crises in recent decades has led to significant uncertainty in the capital market, potentially fostering tendencies for herd behavior. This conduct may manifest in situations of asymmetry when the market experiences varying conditions (market up and down). Herd behavior in asymmetric can be driven by a variety of global influences, such as the Federal Funds Rate and the world oil price. The aim of this research is to investigate whether herd behavior exists under asymmetric conditions, and to explore the influence of global factors on such behavior within the manufacturing sectors listed in the capital markets of Indonesia, Malaysia, and Thailand using daily closing stock price information from January 2015 to December 2022. This research utilizes a cross-sectional dispersion methodology and incorporates a dummy variable within the standard model to accomplish its research objective. The findings denote that asymmetric herding tendencies are evident solely among manufacturing firms listed on the Indonesian stock market during downturns, contrasting with the absence of such behavior in Malaysia and Thailand during market fluctuations. In Indonesia, global factors do not play a significant role in prompting asymmetric herding, whereas in Malaysia and Thailand, are more influenced by the Federal Funds Rate. Keywords: Asymmetric Herding; Market Up and Down; Federal Funds Rate; World Oil Price; Cross-Sectional Dispersion
Determinants of the Equity Price of Main Board Index Companies Komariah, Siti; Gusni, Gusni; Riantani, Suskim
Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 13 No. 2: June 2024
Publisher : Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34010/jika.v13i2.12881

Abstract

The stock price has consistently varied over time in the capital market and can be influenced by a range of internal and external factors. This study aims to identify the elements that investors take into account when making investment decisions on the Main Board Index of the Indonesian stock market, as well as the factors that determine share prices. The study utilized data gathered between 2018 and 2022, from 106 companies listed on the main board index using a purposive sampling method. Panel data regression techniques have been utilized to elucidate the determinants of the firm equity price. Research findings denote that profitability as measured by earnings per share (EPS) and return on assets (ROA), along with the size and value of the firm, contribute positively to equity prices. Conversely, the capital structure exerts a negative impact on share prices, while dividend policy does not affect stock prices. Our findings underscore the significance for investors to consider on factors within a company beside external when processing information and deliberating on investment choices. Keywords: Equity Price; Determinant Factors; Main Board Index; Panel Data; Capital Market
PEMODELAN PERAMBATAN GELOMBANG TSUNAMI DI PERAIRAN TELUK PALU DENGAN METODE TRANSFORMASI KOORDINAT BOLA Gusni, Gusni; Jaya, Agus Indra; Ratianingsih, Rina
JURNAL ILMIAH MATEMATIKA DAN TERAPAN Vol. 9 No. 1 (2012)
Publisher : Program Studi Matematika, Universitas Tadulako

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (586.79 KB) | DOI: 10.22487/2540766X.2012.v9.i1.7438

Abstract

PEMODELAN PERAMBATAN GELOMBANG TSUNAMI DI PERAIRAN TELUK PALU DENGAN METODE TRANSFORMASI KOORDINAT BOLA
The Seren Taun Experience: A Catalyst for Sustainable Cultural Tourism and Visitor Loyalty in West Java Hidayah, Riski Taufik; Bawa, Simerjeet Singh; Gusni, Gusni; Utami, Eristy Minda
Media Ekonomi dan Manajemen Vol 40, No 1 (2025): January 2025
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56444/mem.v40i1.5606

Abstract

This study examines the impact of engaging in the Seren Taun ritual at the Ciletuh-Palabuhanratu UNESCO Global Geopark (CPUGGp) on tourist loyalty, with an emphasis on Memorable Tourism Experiences (MTEs) within three indigenous communities: Ciptagelar, Sinaresmi, and Ciptamulya. This study investigates how MTEs influence tourist loyalty by exploring destination image, visitor engagement, and cultural interaction. A quantitative method was utilized involving 200 participants who attended Seren Taun, with data collected through Google Forms. The application of Structural Equation Modeling (SEM) through the PLS technique, utilizing SmartPLS 4.0, facilitated the assessment of reliability, validity, and correlation analysis. The results demonstrate that MTEs play a crucial role in improving destination image and fostering cultural interaction, yet they do not markedly boost visitor engagement. The influence of MTEs on loyalty intention is significant, underscoring the importance of enhancing destination image and cultural engagement to promote the growth of cultural tourism in Geoparks. The research highlights the significance of cultural interaction and MTEs in fostering tourist loyalty. Rituals such as Seren Taun enhance visitors' ties to the local culture and encourage sustainable tourism, positively impacting local economies.
Financial Knowledge and Social Influence on Generation Z Intention to Invest: The Mediating Role of Financial Attitude and Literacy Utami, Eristy Minda; Gusni, Gusni; Yuliani, Reva; Pesakovic, Gordana
Media Ekonomi dan Manajemen Vol 40, No 1 (2025): January 2025
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56444/mem.v40i1.5378

Abstract

The growing impact of technology has attracted a greater number of people, especially Generation Z, to financial markets. Enhancing financial literacy and attitudes is essential for promoting informed investing choices. This research analyzes the impact of financial knowledge and social influence on Generation Z's investment aspirations, while accounting for the mediating functions of financial literacy and attitude. This research seeks to elucidate the mediating role of financial literacy and attitude in the interaction among financial knowledge, social influence, and investment intentions. A survey methodology was used with a sample size of 200 students enrolled in capital market courses at Widyatama University. The results demonstrate that financial knowledge and attitudes substantially affect investing intentions among Generation Z. Furthermore, financial acumen and social influence indirectly impact investing intentions via these mediating variables. These findings emphasize the need of thorough financial education to develop superior investing strategies among young individuals. Theoretical implications indicate that augmenting financial awareness and attitudes may significantly enhance investment decision-making among Generation Z.
Institutional Ownership, Firm Size, and Agency Cost: A Moderating Role of Leverage Evalina, Evlin; Gusni, Gusni
Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 14 No. 1: December 2024
Publisher : Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34010/jika.v14i1.13944

Abstract

Agency fees are a form of internal company costs borne by shareholders to oversee and control the activities of agents. These costs arise from core dissatisfaction, inefficiency, and disruption. The agent is given the authority to act on behalf of the principal. These agency costs exist to overcome agency conflicts. This study aims to analyze the assessment of institutional ownership and company size on agency costs with leverage as a variable moderation in state-owned enterprises that appear on the Indonesian securities market. This study constitutes applied research that employs a quantitative methodology and employs secondary data. The count of samples determined by purposive sampling method was 13 companies, from 2018-2022. The method applied in the research involves panel data regression with a random effect specification. The model chosen from the research results is the Fixed Effect. The research results revealed that institutional ownership has a positive impact on agency costs. Firm size has a negative impact on agency costs and leverage only moderates institutional ownership by weakening the impact of institutional ownership on agency costs. Keywords: Agency Conflict; Institutional Ownership; Firm Size; Leverage; Agency Cost
Understanding the Drivers of Online Loan Usage in Fashion MSMEs: An Empirical Study in West Java Apriliana, Tria; Gusni, Gusni; Iriani, Yani
Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 14 No. 1: December 2024
Publisher : Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34010/jika.v14i1.14120

Abstract

Access to finance for MSMEs is an important factor in supporting economic growth in Indonesia. Although MSMEs contribute significantly to GDP and employment absorption, they often face difficulties in obtaining funding from traditional financial institutions. With the advancement of information technology, fintech lending has become a popular alternative that offers quick, easy, and inclusive financing. However, the adoption of online loans by MSMEs has not been optimal. This study aims to analyze the factors influencing the intention to use online loans among fashion MSMEs in West Java. This research uses the Technology Acceptance Model (TAM) as the theoretical framework, with independent variables such as subjective norms, perceived behavioral control, financial literacy, risk perception, social influence, perceived ease of use, and perceived usefulness. Data were collected from 40 respondents using simple random sampling and analyzed using SEM-PLS. The results indicate that subjective norms and perceived behavioral control have a positive influence, while financial literacy and risk perception have a negative influence on the intention to use online loans. Social influence, perceived ease of use, and perceived usefulness do not have a significant effect. Limitations include a small sample size and a limited scope. Keywords: Online Loan; Msmes; Subjective Norms; Financial Literacy; TAM
Evaluative Framework CIPP Model for the Tadarub Ala Ad-Dakwah Program at Madrasah Aliyah School Gusni, Gusni; Mania, Sitti; Rasyid, Muhammad Nur Akbar
ETDC: Indonesian Journal of Research and Educational Review Vol. 4 No. 4 (2025): September
Publisher : Education and Talent Development Center Indonesia (ETDC Indonesia)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51574/ijrer.v4i4.3607

Abstract

The Ad-Dakwah-style tadarub program at Islamic High School, or Madrasah Aliyah DDI Paria, is an important effort to improve Qur'an literacy and build students' religious character. However, the effectiveness of this program has not been comprehensively evaluated, requiring a comprehensive evaluative framework. This study intends to evaluate the tadarub program using the CIPP (Context, Input, Process, Product) Model, which assesses the program's context, input, process, and product aspects. The research method used was a combined approach with data collection through interviews, observations, document analysis, and questionnaires with participants and program instructors. The evaluation results indicate that the tadarub program is relevant to the needs of participants and the school environment and supported by adequate human resources and facilities despite the limited number of instructors. The implementation process was structured but faced obstacles such as participant absence and time constraints. The program's products showed significant improvements in Qur'an reading skills and basic tajweed understanding, although the results were not evenly distributed across all participants. Based on these findings, recommendations include increasing the number of instructors, enriching teaching materials, more flexible scheduling, and ongoing evaluation to optimize the program's impact. This research contributes to the development of an adaptive and comprehensive evaluation of religious programs based on the CIPP model.
Improving Paragraph Writing Competence through an Inquiry Method Using Audio Media Gusni, Gusni
ETDC: Indonesian Journal of Research and Educational Review Vol. 2 No. 2 (2023): March
Publisher : Education and Talent Development Center Indonesia (ETDC Indonesia)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51574/ijrer.v2i2.656

Abstract

The implementation of learning to write paragraphs through the inquiry method using audio media shows a change in behavior in learning in a positive direction. This proves that the application of the inquiry method using audio media can improve the ability to write student paragraphs, both argumentative paragraphs and persuasive paragraphs. Changes in student behavior can be seen in the creative abilities and skills of students who experience changes from cycle I to cycle II. In cycle I, students generally did not really understand paragraphs and were not able to write paragraphs properly and correctly. In cycle II, students understood paragraphs well and students were able to write good and correct paragraphs. The results of the study show that the application of the inquiry method using audio media can increase learning to write paragraphs. The results of the overall test analysis from cycle I to cycle II showed an increase. Starting from the assessment of the cognitive, affective, to psychomotor domains, it shows an increase.
Mosque Functions as Islamic Education Centers in Overcoming Community Crisis Gusni, Gusni
ETDC: Indonesian Journal of Research and Educational Review Vol. 2 No. 3 (2023): June
Publisher : Education and Talent Development Center Indonesia (ETDC Indonesia)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51574/ijrer.v2i3.899

Abstract

This paper relates to the function of mosques as centers of Islamic education in overcoming the moral crisis in society. In connection with the title, the author explains the function of mosques in overcoming society's moral crisis. To answer this problem, the author uses library research, where he examines several books that are related to the problem being discussed. In this case, the author uses the direct quotation technique, that is, the author quotes a book or article without changing the editorial at all. And the indirect quotation technique, namely, the author quotes the book by adding the editorial, but the meaning and purpose remain the same. In this research, the results showed that the existence of a mosque in the midst of society needs to be considered both in terms of development and in terms of prosperity, with various religious activities in it such as congregational prayers, ta'lim assembly meetings, and various mosque youth guidance, especially during the holy month of Ramadan. various activities such as the Nuzulul Qur'an, a pious children's festival, and guidance for reading and writing the Qur'an. So that the function of the mosque can bring a wind of change for the better and spread peace and the nobility of morals in society.