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NILAI BISNIS SAHAM SYARIAH DAN PORTOFOLIO OPTIMAL Marsono, Acong Dewantoro
JURNAL SYARIKAH : JURNAL EKONOMI ISLAM Vol 2, No 1 (2016): Jurnal Syarikah
Publisher : Program Studi Ekonomi Islam FEI UNIDA Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1103.309 KB) | DOI: 10.30997/jsei.v2i1.290

Abstract

Portofolio optimal adalah satu-satunya tujuan bagi setiap investor. Penelitian ini bertujuan untuk membentuk portofolio optimal terdiri dari saham syariah menggunakan Sharpe Model atau model indeks tunggal dengan penekanan pada bisnis value. Q-scoreor Tobin Q digunakan sebagai proxy untuk memperkirakan nilai bisnis. Menurut model Sharpe hanya sepuluh dari 49 calon saham syariah yang membangun portofolio optimal. kinerja portofolio optimal ini mengalahkan pasar.Kata kunci: model indekstunggal, Tobin Q, nilai bisnis, saham syariah
NILAI BISNIS SAHAM SYARIAH DAN PORTOFOLIO OPTIMAL Marsono, Acong Dewantoro
JURNAL SYARIKAH : JURNAL EKONOMI ISLAM Vol. 2 No. 1 (2016): Jurnal Syarikah
Publisher : Program Studi Ekonomi Islam FEI UNIDA Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1103.309 KB) | DOI: 10.30997/jsei.v2i1.290

Abstract

Portofolio optimal adalah satu-satunya tujuan bagi setiap investor. Penelitian ini bertujuan untuk membentuk portofolio optimal terdiri dari saham syariah menggunakan Sharpe Model atau model indeks tunggal dengan penekanan pada bisnis value. Q-scoreor Tobin Q digunakan sebagai proxy untuk memperkirakan nilai bisnis. Menurut model Sharpe hanya sepuluh dari 49 calon saham syariah yang membangun portofolio optimal. kinerja portofolio optimal ini mengalahkan pasar.Kata kunci: model indekstunggal, Tobin Q, nilai bisnis, saham syariah
Alternatif Perhitungan RBC (Risk Based Capital) Upaya Menjaga Daya Saing Perusahaan Reasuransi Syariah Ridarmelli, Ridarmelli; Marsono, A. Dewantoro
Business and Management Review Vol 2, No 1 (2011): Desember
Publisher : Universitas Bakrie

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

RBC is used to measure the performance of insurance company, (shariah or conventional). RBC is one of the insurance company tools to keep its competitive advantage. Based on 424/ KMK.06/2003 the minimum RBC for insurance and reinsurance company is 120%. This is a descriptive research, the study is conducted to explore a new model to determine the unexpected loss (as mentioned in KMK 424, schedule C) using Loss Distribution Approach (LDA) and Extreme Value Theory (EVT) methods. The result is RBC that calculated using LDA & EVT models shows great performance, above the regulation standard. Back Testing is used to test the validity of the methods, the result:  LDA is a valid model to implement in the insurance or reinsurance company, while EVT is not a valid model. Key words: Unexpected Loss, LDA, EVT, competitive advantage.
The Implementation of Financial Sustainability at Allo Bank Indonesia - Opportunities and Challenges Iswibowo, Iswibowo; Pramyswary, Dewa Ayu Ruth; Marsono, A. Dewantoro
International Journal of Social Service and Research Vol. 4 No. 02 (2024): International Journal of Social Service and Research (IJSSR)
Publisher : Ridwan Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46799/ijssr.v4i02.729

Abstract

This research delves into the strategic adoption of Sustainable Finance (POJK No. 51/POJK.03/2017) by PT Allo Bank Indonesia, Tbk, a leading digital service-based bank in Indonesia. The study focuses on the challenges faced by the bank and outlines its strategy to overcome them through the implementation of sustainable finance principles. Specifically, the bank has transitioned its business model to embrace branchless banking, emphasizing digital services. Employing a qualitative research methodology, this study investigates the activities of Allo Bank Indonesia and utilizes the SWOT analysis approach for a comprehensive analysis. The findings reveal the successful integration of sustainable finance practices by the bank; however, there exists potential for further enhancement in their implementation.
The Influence of Discipline, Loyalty, and Work Motivation on Employee Performance in Financing Distribution at PT Permodalan Nasional Madani Pematang Siantar Branch Office Pohan, Hendi; Marsono, Acong Dewantoro
Formosa Journal of Applied Sciences Vol. 3 No. 11 (2024): November 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjas.v3i11.12260

Abstract

This study focuses on PT. Permodalan Nasional Madani (PNM) Pematang Siantar Branch, with independent variables of discipline, loyalty, and work motivation, and the dependent variable being employee performance. The primary aim is to evaluate the impact of these three independent variables on employee performance in the context of financing distribution. The sample consists of 100 PNM employees from the Pematang Siantar Branch, selected using a census method, with data analysis conducted through SEM using SmartPLS. This includes multiple linear regression, correlation, and determination coefficients. Data were collected through questionnaires distributed to all sample participants. The study results indicate that discipline does not influence employee performance. However, loyalty has a positive and significant effect on employee performance, as does work motivation.
The Influence of Environment, Social, Governance (ESG) on Company Value on the Indonesian Stock Exchange Supranata, Mardani; Marsono, Acong Dewantoro; Lailiyah, Nadhifatul
SCIENTIFIC JOURNAL OF REFLECTION : Economic, Accounting, Management and Business Vol. 8 No. 2 (2025): SCIENTIFIC JOURNAL OF REFLECTION: Economic, Accounting, Management, & Business
Publisher : Sekolah Menengah Kejuruan (SMK) Pustek

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37481/sjr.v8i2.1081

Abstract

This study aims to analyze the effect of Environmental, Social, and Governance (ESG) on firm value in companies listed in the LQ45 Index for the period 2023. ESG has become an important factor in investment decisions, as global awareness of sustainability and corporate responsibility increases. This study uses linear regression to examine the relationship between ESG, firm size, and leverage on firm value as measured by Tobin's Q ratio. The results show that ESG and firm size have a significant effect on firm value, while leverage has no significant effect. Companies with higher ESG scores tend to have better market value, as investors see it as an indicator of better risk management and business sustainability. In addition, firms with larger size tend to be better able to adopt ESG practices effectively, which increases competitiveness and market confidence. In contrast, high leverage does not directly contribute to firm value, as the financial risks posed may hinder the implementation of sustainability strategies. The implication of this study confirms that the implementation of ESG not only increases the value of the company but also supports business sustainability in the long run. For investors, ESG can be a key consideration factor in assessing company performance and prospects. Meanwhile, for regulators and company management, these results reinforce the urgency of ESG transparency and implementation to maintain competitiveness and business sustainability.
AN EMPIRICAL ANALYSIS OF FACTORS INFLUENCING PERFORMANCE OF SHARIAH MUTUAL FUNDS IN INDONESIA Marsono, A. Dewantoro; Salim, Ubud; Ratnawati, Kusuma; Aisjah, Siti
Jurnal Aplikasi Manajemen Vol. 20 No. 4 (2022)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jam.2022.020.04.11

Abstract

This paper aims to identify the factors that affect the performance of shariah mutual funds. This study uses SEM to test the factors that hypothetically influence mutual fund performance, namely mutual fund manager skills, characteristics, and analyst coverage. This study uses a sample of 45 mutual funds registered with the OJK [financial services authority] for at least three years: equity funds, fixed-income funds, and mixed funds. The results indicate that fund manager skills negatively influence mutual fund performance but not significantly. In addition, the characteristics positively affect the mutual fund performance but are insignificant. Last, analyst coverage is positively influencing the mutual fund performance significantly. The results provide information that would benefit the investors in predicting the performance of shariah mutual funds and the fund managers to improve the performance of their managed funds. Further research will ascertain the inability of market-timing skills and asset allocation strategies to improve mutual fund performance.
Altman Altman Z-Score Analysis Model On Potential Bankruptcy At PT Permodalan Nasional Madani In 2017-2021: Altman Z-Score Analysis Model On Potential Bankruptcy At PT Permodalan Nasional Madani In 2017-2021 Putri, Bimby Maulita Perdana; Marsono, A. Dewantoro
ADPEBI International Journal of Business and Social Science Vol. 3 No. 2 (2023)
Publisher : Asosiasi Dosen Peneliti Ilmu Ekonomi dan Bisnis Indonesia (Adpebi)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54099/aijbs.v3i2.754

Abstract

The rapid development of the business world makes company management need to develop a company plan or strategy in order to achieve its goals and the company is able to move quickly to anticipate existing changes. The government's target to increase the number of NoA to 20 million customers in 2024 is not easy. This study aims to determine the value of financial ratios and prove the results of the Altman Z-Score Analysis Model on the potential bankruptcy of PT Permodalan Nasional Madani. This study used a quantitative descriptive approach using Altman Z-Score Modification calculation. The analysis used is the Financial Statements of PT. Permodalan Nasional Madani with samples of Financial Statements from 2017-2021. Data collection techniques are carried out by collecting data based on past data and conducting literature studies by searching library sources. The results showed that there was no potential for bankruptcy in PT Permodalan Nasional Madani based on the analysis of the altman Z-Score from 2017-2021
Pengaruh Produk Keuangan Berkelanjutan dan Literasi Keuangan sebagai Intervening Terhadap Peningkatan Inklusi Keuangan Berkelanjutan Perbankan Syariah Fitriani, Irni; Marsono, Acong Dewantoro
J-CEKI : Jurnal Cendekia Ilmiah Vol. 4 No. 4: Juni 2025
Publisher : CV. ULIL ALBAB CORP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/jceki.v4i4.10524

Abstract

Penelitian ini menganalisis pengaruh produk keuangan berkelanjutan dan literasi keuangan terhadap peningkatan inklusi keuangan berkelanjutan pada perbankan syariah di Indonesia. Menggunakan pendekatan kuantitatif dengan desain kausal, penelitian dilakukan pada nasabah empat bank syariah terbesar di Indonesia dengan total 100 responden. Pengumpulan data menggunakan kuesioner dengan skala Likert, sedangkan analisis data menggunakan Partial Least Squares-Structural Equation Modeling (PLS-SEM). Hasil penelitian menunjukkan bahwa produk keuangan berkelanjutan berpengaruh positif dan signifikan terhadap literasi keuangan dengan koefisien jalur sebesar 0,601. Produk keuangan berkelanjutan juga secara langsung memengaruhi peningkatan inklusi keuangan berkelanjutan dengan koefisien sebesar 0,468. Literasi keuangan terbukti secara signifikan memengaruhi peningkatan inklusi keuangan berkelanjutan dengan koefisien sebesar 0,403, sekaligus berperan sebagai mediator dalam hubungan antara produk keuangan berkelanjutan dan inklusi keuangan berkelanjutan (koefisien 0,242). Model penelitian memiliki relevansi prediktif yang baik dengan nilai R² untuk inklusi keuangan berkelanjutan sebesar 0,609. Temuan ini menegaskan pentingnya pengembangan produk keuangan berkelanjutan dan peningkatan literasi keuangan sebagai strategi untuk memperluas inklusi keuangan berkelanjutan pada perbankan syariah, sejalan dengan agenda Tujuan Pembangunan Berkelanjutan dan peta jalan keuangan berkelanjutan di Indonesia.
Analysis Financial Sustainability Ratio: Case Study Digital Banking in Indonesia Ignesias Sihite, Chelsie Monica; Marsono, A. Dewantoro
Action Research Literate Vol. 8 No. 5 (2024): Action Research Literate
Publisher : Ridwan Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46799/arl.v8i5.364

Abstract

Tujuan dari studi ini adalah untuk menganalisis pengaruh Return on Assets (ROA), Non Performing Loan (NPL), Firm Size dan Capital Adequacy Ratio (CAR) terhadap Rasio Keberlanjutan Keuangan (Financial Sustainability Ratio) pada perusahaan-perusahaan perbankan digital di Indonesia. Periode waktu studi adalah 5 tahun, yaitu periode 2019-2023. Populasi studi ini mencakup semua perusahaan perbankan digital di Indonesia untuk periode 2019-2023. Teknik pengambilan sampel menggunakan teknik purposive sampling. Berdasarkan kriteria yang ditetapkan, diperoleh 7 perusahaan sebagai sampel. Jenis data yang digunakan adalah data sekunder yang diperoleh dari website perbankan masing-masing. Metode analisis yang digunakan adalah analisis regresi data panel. Hasil penelitian menunjukkan bahwa ROA memiliki pengaruh yang positif dan signifikan terhadap Financial Sustainability Ratio sedangkan NPL, Firm Size dan CAR tidak memiliki pengaruh yang signifikan terhadap Financial Sustainability Ratio.