Article Per Year (5 Year)
p-Index From 2021 - 2026
3.06
P-Index
This Author published in this journals
All Journal Jurnal Manajemen dan Agribisnis Jurnal Manajemen Terapan dan Keuangan Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal Al-Muzara'ah Jurnal Tata Kelola dan Akuntabilitas Keuangan Negara Bina Hukum Lingkungan Jurnal Ilmiah Manajemen Kesatuan Jurnal Ekonomi Indonesia Indonesian Journal of Multidisciplinary Science Bina Hukum Lingkungan Inkubis: Jurnal Ekonomi dan Bisnis Jurnal Ekonomi dan Pembangunan Indonesia Asian Journal of Social and Humanities Economics Development Analysis Journal Muqtasid: Jurnal Ekonomi dan Perbankan Syariah AI, Big Data and Quantitative Methods in Finance
Linda Karlina Sari
School Of Business, IPB University, Bogor, Indonesia
Agriculture, Biological Sciences & Forestry Humanities Decision Sciences, Operations Research & Management Earth & Planetary Sciences Economics, Econometrics & Finance Education Engineering Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Public Health Social Sciences Other

Published : 24 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 24 Documents
Search

 1   2   3 
The Impact of BPJS Ketenagakerjaan Participation on Corporate Risk Profile Changes: A Comparative Analysis Based on ISO 31000 Aulia Rizki; Tanti Novianti; Linda Karlina Sari
Asian Journal of Social and Humanities Vol. 4 No. 7 (2026): Asian Journal of Social and Humanities
Publisher : Pelopor Publikasi Akademika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59888/ajosh.v4i7.695

Abstract

The BPJS Employment Program is a labor social security system in Indonesia that is mandatory for companies and aims to provide protection against various employment risks. In addition to protecting workers, participation in this program also has the potential to affect a company’s risk profile. However, empirical studies that systematically analyze changes in corporate risk profiles before and after BPJS Ketenagakerjaan membership remain limited. Therefore, this study analyzes changes in corporate risk levels and examines their implications for risk management based on the ISO 31000:2018 framework. This study employs a descriptive-comparative quantitative approach using a before-and-after method. Primary data were obtained through questionnaires distributed to 39 companies participating in BPJS Ketenagakerjaan. Risk assessments cover four categories: legal, financial, operational, and reputational risks. Each is evaluated using likelihood and impact on a Likert scale of 1–5. Data analysis uses the geometric mean to derive representative values, followed by risk scoring and mapping onto a 5 × 5 risk matrix. The results indicate that BPJS Ketenagakerjaan membership alters corporate risk profiles. Legal and operational risks tend to decrease due to improved regulatory compliance and worker protection. Conversely, some financial and reputational risks increase, driven by contribution obligations and heightened stakeholder expectations. These findings suggest that BPJS Ketenagakerjaan acts as a risk transfer mechanism without fully eliminating risks, leaving residual risks that require ongoing control and monitoring. The study highlights that labor social security programs influence not only worker protection but also corporate risk dynamics from an organizational risk management perspective.
DETERMINAN DINAMIS STRUKTUR MODAL DAN PERAN PENGAWASAN KEPEMILIKAN INSTITUSIONAL: BUKTI PANEL DINAMIS DARI EMITEN PERKEBUNAN KELAPA SAWIT INDONESIA Iqbal, Nadim Muhammad; Siregar, Hermanto; Sari, Linda Karlina
Jurnal Manajemen Terapan dan Keuangan Vol. 15 No. 03 (2026): Jurnal Manajemen Terapan dan Keuangan (On Proses)
Publisher : Program Studi Manajemen Pemerintahan dan Keuangan Daerah Fakultas Ekonomi dan Bisnis Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/jmk.v15i03.59285

Abstract

Abstrak Penelitian ini menganalisis determinan struktur modal serta peran kepemilikan institusional pada perusahaan perkebunan kelapa sawit yang terdaftar di Bursa Efek Indonesia periode 2017–2024. Kajian struktur modal pada sektor ini umumnya menggunakan estimator statis yang mengabaikan persistensi leverage dan endogenitas profitabilitas. Penelitian ini menutup celah tersebut melalui estimasi empat spesifikasi panel dinamis two-step difference Generalized Method of Moments atas sebelas perusahaan dengan 88 observasi panel seimbang dan 66 observasi efektif. Struktur modal diproksikan dengan Debt to Equity Ratio (DER) dan logaritma naturalnya, profitabilitas diukur menggunakan Return on Assets (ROA) dan Return on Equity (ROE) pada model terpisah, sedangkan kepemilikan institusional diuji sebagai determinan langsung sekaligus sebagai moderator. Hasil estimasi menunjukkan bahwa struktur modal perusahaan perkebunan kelapa sawit di Indonesia dipengaruhi secara konsisten oleh profitabilitas pertumbuhan perusahaan, dan kepemilikan institusional. Temuan ini mendukung Pecking Order Theory dan monitoring hypothesis, sekaligus menunjukkan bahwa kepemilikan institusional berfungsi sebagai determinan langsung dan bukan sebagai pengubah sensitivitas profitabilitas terhadap keputusan utang. Penelitian ini menunjukkan bahwa struktur modal perusahaan perkebunan kelapa sawit perlu dibangun berdasarkan kekuatan fundamental perusahaan. Produktivitas aset menjadi sumber utama peningkatan kapasitas pendanaan internal, sedangkan utang digunakan secara selektif untuk mendukung pertumbuhan dan investasi produktif. Kata kunci: kepemilikan institusional; panel dinamis GMM; pecking order theory; perkebunan kelapa sawit; struktur modal
Asymmetric Effects of Macroeconomic Variables on Stock Market Indices: Evidence From Developed and Emerging Economies Imatul Hamza; Linda Karlina Sari; Sendy Watazawwadu’Ilmi Watazawwadu’Ilmi; Fuad Wahdan Muhibuddin
AI, Big Data and Quantitative Methods in Finance Vol. 1 No. 1 (2026): ABQ Vol. 1 No. 1, April 2026
Publisher : School of Business, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/abq.1.1.25

Abstract

Background: Global financial markets are increasingly integrated, yet the response of stock indices to macroeconomic shocks remains poorly understood in its nonlinear dimensions. Most existing studies adopt symmetric linear frameworks that may fail to capture the differential market reactions to positive and negative macroeconomic changes.Purpose: This study investigates the asymmetric effects of key macroeconomic variables, namely exchange rates, gross domestic product (GDP), and interest rates, on stock market indices across 56 countries classified into 28 developed and 28 emerging economies over the period 2016Q1 to 2024Q3.Design/Methodology/Approach: This study employs panel Autoregressive Distributed Lag (ARDL) and panel Nonlinear Autoregressive Distributed Lag (NARDL) models estimated through Pooled Mean Group (PMG), Mean Group (MG), and Dynamic Fixed Effect (DFE) estimators. The Hausman test is applied to determine the optimal estimator. Asymmetry is formally tested using the Wald test. Unit root analysis uses the Augmented Dickey Fuller (ADF) test, and cointegration is verified via the Kao panel cointegration test.Findings/Result: The NARDL model consistently outperforms the symmetric ARDL specification across all country groups based on Akaike Information Criterion (AIC). Significant long-run asymmetric effects are identified for all three macroeconomic variables. Currency depreciation exerts a larger negative impact on stock indices than appreciation across both country groups. GDP growth positively drives stock markets in developed economies but has no significant effect in emerging markets. Interest rate cuts generate larger stock market responses than equivalent rate increases. In the short run, GDP and interest rate movements display asymmetric effects in emerging economies, while developed markets are more resilient to short-term macroeconomic fluctuations.Conclusion: Asymmetric quantitative modeling significantly enriches the understanding of macroeconomic transmission mechanisms in financial markets, with critical implications for monetary policy design and investment risk management in both developed and emerging economies.Originality/Value: This study provides one of the first comprehensive panel NARDL analyses spanning 56 countries across both developed and emerging markets simultaneously over a post-2016 dataset, explicitly testing directional asymmetry in the GDP, exchange rate, and interest rate transmission to stock markets. The findings advance the limited literature that treats these relationships as symmetric. Keywords:asymmetric effects, macroeconomic variables, panel ARDL, panel NARDL, stock market index  
Developing an Integrated Historical and Predictive Customer Profitability Model for Customer Acquisition in the Banking Industry Rudianto Suryo Binantoro; Syamsul Ma’arif; Linda Karlina Sari; Zenal Asikin
Inkubis : Jurnal Ekonomi dan Bisnis Vol. 8 No. 3 (2026): INKUBIS Jurnal Ekonomi Dan Bisnis
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/inkubis.v8i3.409

Abstract

Background: Banking customer acquisition is often assessed using volume-based indicators, which may encourage growth without adequately considering customer profitability. Although Customer Profitability Analysis (CPA) provides a more comprehensive basis for evaluating customer economic value, its application in banking remains fragmented and predominantly historical, limiting its use in acquisition decision-making. Objective: This study aims to develop an integrated historical and predictive Customer Profitability Analysis model to support value-based customer acquisition decisions in the banking sector. Methods: A qualitative approach was employed using Soft Systems Methodology (SSM) and a comparative case study of two national commercial banks. Data were collected through document analysis and stakeholder insights, focusing on three critical acquisition stages: prospect identification and qualification, needs analysis and solution design, and proposal presentation and negotiation. Results: The findings indicate that CPA implementation remains partial and is constrained by the absence of standardized profitability frameworks, limited predictive capabilities, fragmented data integration, and silo-based decision-making. These limitations result in suboptimal customer acquisition and package-deal decisions. The study therefore develops an integrated conceptual model combining historical and predictive CPA, supported by real-time profitability simulation and cross-functional integration. Conclusion: Integrating historical and predictive CPA into the customer acquisition process can strengthen data-driven, value-oriented decision-making. The proposed model contributes a corporate-level CPA framework, a profitability-based approach for evaluating package deals, and a customer profitability mapping mechanism for acquisition prioritization, supporting more sustainable growth and improved customer portfolio quality.
Co-Authors Abdullah, Asaduddin Achsani, Noer Azham Agustina Widi Palupiningrum‬ Ahmad Heri Firdaus Anggi Mayang Sari Ani Nuraisyah Arfandi Nur Arif Imam Suroso Asnaedi, Asnaedi Aulia Rizki Bagus Sartono Bustanul Arifin Devi Nurmalasari Dominicus Savio Priyarsono Drajat Martianto Dwi Afriyanti, Erlisa Anggraini Erliza Noor Fathia Fauziah Asshanti Febriann Dedy Syahputra Fuad Wahdan Muhibuddin GUSTARI, IRVANDI Harianto Harianto Helmi Adam Herawati, Rafidah Hermanto Siregar Ilmi, Sendy Watazawwadu Imatul Hamza Iqbal, Nadim Muhammad Irfan Syauqi Beik Irma Tuti Handayani Joyo Winoto, Joyo Lukytawati Anggraeni M. Rafi Noer Azam Achsani Nunki Malahayati Popong Nurhayati Rafidah Herawati Rafif, Kevin Roy H.M. Sembel Rudianto Suryo Binantoro Salsa Dilla Syamsul Ma’arif Tanti Novianti Tolegenov, Bakyt Trisa Oktavianti Zenal Asikin