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All Journal JSEH (Jurnal Sosial Ekonomi dan Humaniora) Distribusi Dinasti International Journal of Management Science Journal of Enterprise and Development (JED) International Journal of Economics Development Research (IJEDR) Jurnal Bumigora Information Technology (BITe) REKA ELKOMIKA: Jurnal Pengabdian kepada Masyarakat Jurnal Abdimas Sangkabira ALEXANDRIA: Journal of Economics, Business, and Entrepreneurship Unram Journal of Community Service (UJCS) Indonesian Journal of Advanced Research (IJAR) Journal of Sharia Economy and Islamic Tourism Indonesian Journal of Education and Community Services E-Jurnal Ekonomi dan Bisnis Universitas Udayana
Kusmayadi, Iwan
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Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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The Moderating Role of Board Characteristics in the Relationship Between Firm Factors and ESG Performance in Indonesia Kurnia, Juan; Kusmayadi, Iwan
International Journal of Economics Development Research (IJEDR) Vol. 6 No. 6 (2025): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v6i6.9553

Abstract

This study aims to analyze the influence of firm-specific characteristics namely firm size, firm age, profitability (ROA), and leverage (DAR)on Environmental, Social, and Governance (ESG) performance, with the Board Size of Commissioners (BSC) and Board Independence of Commissioners (BIC) as moderating variables. The research employs a quantitative causal approach using secondary data from 78 non-financial companies listed on the Indonesia Stock Exchange during 2019–2023, generating 390 firm-year observations. Data were analyzed using multiple linear regression with the Moderated Regression Analysis (MRA) method through SPSS 26. The results indicate that firm age positively and significantly affects ESG performance, while profitability (ROA) has a significant negative influence. Firm size and leverage show no significant effects. Furthermore, BSC strengthens the relationship between firm size and profitability with ESG, whereas BIC enhances the link between profitability and ESG performance. These findings highlight the critical role of corporate governance mechanisms in aligning financial objectives with sustainability goals, providing valuable insights for companies and policymakers to improve ESG governance practices in Indonesia.
The Influence of Profitability, Capital Structure, and Company Size on Dividend Policy Moderated by the Independent Board of Commissioners Affandi, Aryo Juliansyah; Kusmayadi, Iwan
Indonesian Journal of Advanced Research Vol. 4 No. 11 (2025): November 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v4i11.15725

Abstract

This study aims to examine the influence of profitability, capital structure, and company size on dividend policy, considering the role of independent board of commissioners as a moderation variable. The object of the study is focused on manufacturing companies listed on the Indonesia Stock Exchange for the 2020–2024 period. The approach used is quantitative with the Moderated Regression Analysis (MRA) analysis method, based on 380 observational data from 76 selected companies using purposive sampling techniques. The findings of the study show that profitability has a significant negative impact on dividend policy, but the capital structure does not show a significant influence. On the other hand, the size of the company has a positive and significant effect. The independent board of commissioners does not moderate the influence of profitability or capital structure, but acts as a negative moderator in the relationship between company size and dividend policy.
Empirical Evidence of Banking Risk Management in Indonesia Nabila, Nabila; Kusmayadi, Iwan
Indonesian Journal of Advanced Research Vol. 4 No. 11 (2025): November 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v4i11.15737

Abstract

This study aims to analyze the differences in banking risk in Indonesia before and after the implementation of POJK No. 18/POJK.03/2016 concerning Risk Management for Commercial Banks. This study contributes to society and the banking world by increasing understanding of the importance of implementing risk management in maintaining the stability of the national financial system. The present research employs a comparative quantitative approach to analyze the differences in banking risk before and after the implementation of the POJK. Data collection was conducted utilizing secondary data obtained from bank financial reports and official OJK publications during the period 2009–2024. The findings of the research indicate significant differences in the NPL, BOPO, and NIM variables, while the LDR ratio does not show a significant difference with a significance level above 0.05. These findings provide a new perspective on the effectiveness of risk management regulatory policies in Indonesia.
Digital Financial Reports for Female Shrimp Paste Entrepreneurs for Sustainable Competitive Financial Advantage Kusmayadi, Iwan; Suprayetno, Djoko; Wardani, Laila; Dakwah, Muhammad Mujahid; Ahyar, Muhammad; Sofiyah, Siti
Unram Journal of Community Service Vol. 6 No. 4 (2025): December
Publisher : Pascasarjana Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/ujcs.v6i4.1379

Abstract

Jor Hamlet, Jerowaru Village, Jerowaru District, East Lombok Regency, is a center for shrimp paste production with significant development potential. Limited access to capital is the main constraint due to the low awareness and financial literacy among most entrepreneurs. This situation requires intervention through education, carried out with direct assistance in the form of workshops on the introduction and use of digital financial reporting applications. This training aims to enhance financial management skills in a more practical and professional manner, thereby improving business competitiveness and sustainability. The focus of this mentoring activity is the introduction of the application and practical simulation of automatically preparing financial reports using the BukuWarung application. The structured and effective mentoring method is carried out in three main stages: First, initial analysis and preparation, which involves identifying the partner's needs and preparing materials and manuals. Second, workshops, which involve introducing and directly simulating the use of the BukuWarung application. This includes guidance on downloading the app, introduction to its main features and functions, account creation, recording transactions, evaluating financial reports to measure business performance, as well as interactive discussions. Third, monitoring and evaluation, by ensuring that participants can use the application independently and consistently. This mentoring activity has had a positive impact on entrepreneurs, including improved financial literacy and strengthened commitment to regularly record business activities in financial reports. This practice allows them to enhance the efficiency and competitiveness of their businesses.
OVERREACTION TERHADAP PENGUMUMAN PELUNCURAN INDEKS DI BURSA EFEK INDONESIA G. A. Sri Oktaryani; Kusmayadi, Iwan; Ahyar, Muhammad; Prihatini, Annisa Cahaya Maharani Lombok
E-Jurnal Ekonomi dan Bisnis Universitas Udayana VOLUME.15.NO.01.TAHUN.2026
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EEB.2026.v15.i01.p05

Abstract

Harga saham tidak selalu mencerminkan nilai fundamental perusahaan dan investor seringkali irasional karena dapat dipengaruhi oleh faktor psikologis, emosi dan bias pribadi dalam mengambil keputusan investasi. Penelitian ini merupakan studi peristiwa untuk menguji fenomena overreaction terhadap kandungan informasi terhadap pengumumuman peluncuran indeks di Bursa Efek Indonesia, yaitu IDXESGL, IDXHIDIV20, dan IDXLQ45LCL. Analisis terhadap fenomena overreaction sebagai informasi penting yang dapat membantu investor agar dapat terhindar dari keputusan investasi yang kurang tepat. Penelitian ini menggunakan pendekatan studi peristiwa, dengan menganalisis abnormal return di periode seputar pengumuman (event window), yaitu 5 sampai dengan 10 hari sebelum maupun sesudah hari pengumuman peluncuran dari setiap indeks. Data yang dikumpulkan meliputi harga saham individual yang terdaftar pada masing-masing indeks, indeks harga pasar, dan suku bunga bebas risiko (BI rate) secara terus menerus selama periode estimasi dan event window. Uji variabel menggunakan uji statistik parametrik yaitu one sample t-test dan paired sample test untuk data yang berdistribusi normal, dan uji non-parametrik untuk data yang berdistribusi tidak normal. Hasil penelitian menunjukkan bahwa reaksi pasar bervariasi dalam merespon pengumuman peluncuran indeks baru di Bursa Efek Indonesia, overreaction terjadi pada pengumuman peluncuran indeks ESG Leaders (ESGL) dan LQ45 Low Carbon Leaders (LQ45LCL), dan tidak terjadi pada indeks HIDIV20. Penelitian ini berkontribusi terhadap literatur keuangan dengan menyajikan bukti empiris mengenai keberadaan fenomena overreaction di pasar modal Indonesia, yang mencerminkan karakteristik pasar dengan tingkat efisiensi bentuk lemah.     Stock prices do not always reflect a company's fundamental value, and investors are often irrational due to the influence of psychological factors, emotions, and personal biases in making investment decisions. This study is an event study aimed at examining the phenomenon of overreaction to the informational content of index launch announcements on the Indonesia Stock Exchange, specifically the IDXESGL, IDXHIDIV20, and IDXLQ45LCL. The analysis of overreaction is considered important information that can help investors avoid making poor investment decisions. This research employs an event study approach by analyzing abnormal returns during the period surrounding the announcements (event window) specifically, 5 to 10 days before and after the event date of each index launch. The data collected include individual stock prices listed in each respective index, the overall market index, and the risk-free interest rate (BI rate), continuously observed during the estimation period and the event window. Statistical testing of variables uses parametric tests such as the one-sample t-test and paired sample t-test for normally distributed data, and non-parametric tests for non-normally distributed data. The results show that market reactions vary in response to the launch announcements of new indices on the Indonesia Stock Exchange, Overreaction was observed in the announcements of the ESG Leaders (IDXESGL) and LQ45 Low Carbon Leaders (IDXLQ45LCL) indices, but not in the HIDIV20 index. This research contributes to the financial literature by providing empirical evidence of overreaction in Indonesia capital market which reflects the characteristics of the weak-form market efficiency.  
Digitalisasi Administrasi Desa melalui Implementasi OpenSID di Desa Aikmel: Pendekatan Deskriptif-Partisipatif KKN UNRAM Hanggara, Muhammad Gilang; Dewi, Zaskia Elvina; Salam, Abdul; Putra, Muhammad Prasetya; Halisah, Halisah; Masita, Nur; Maharani, Maharani; Dewi, Yennysa Puspita; Ariyani, Sutina; Wibowo, Rajata Hayya; Febrianti, Leni Triana; Kusmayadi, Iwan
Indonesian Journal of Education and Community Services Vol. 6 No. 1 (2026): Edisi Januari-Juni 2026 (Continuous Publication)
Publisher : Indonesian Publication Center

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

Abstract

The implementation of the Village Information System (SID) represents a strategic step in enhancing the quality of administrative services through the digitalization of population data management. Prior to the SID implementation, Aikmel Village encountered various obstacles, including non-digitalized data management and manual administrative processes, which led to potential delays and recording errors. This article aims to describe the implementation of an OpenSID-based system to support administrative service efficiency through the Community Service Program (KKN) of the University of Mataram. The methodology employed includes participatory observation, population data updating and digitalization, technical assistance for village officials, and the evaluation of correspondence services. The results demonstrate a significant transformation from the initial absence of a digital database to an integrated system with 9,499 successfully digitalized population records. The utilization of SID supports administrative services with an average of seven documents processed per workday, while simultaneously improving service time efficiency, digital archiving organization, and data access accuracy. The success of this implementation is influenced by the quality of data digitalization, infrastructure readiness, and the active involvement of village officials in system management. The implementation of SID contributes to the strengthening of data-based village administrative governance and holds sustainable potential in supporting transparency and more effective village development planning.
Co-Authors Abdul Mannan, Siti Sofiyah Abdurahman Abdurrahman Affandi, Aryo Juliansyah Agustiani, Eka Ahyar, Muhammad Apriadi, Apriadi Ariyani, Sutina Astrilia, Herfiana Athar, Handry Sudiarta Bagis, Abdul Azis Burhanuddin Burhanuddin Cahyarani, Ni Putu Eka Nadya Denik Tirtaningrum, I Dewa Ayu Dewi, Yennysa Puspita Dewi, Zaskia Elvina Febrianti, Leni Triana G. A. Sri Oktaryani G. A. Sri Oktaryani Halisah, Halisah Hammad, Rifqi Hanggara, Muhammad Gilang Haris Al Farizi, Abdul Herman, Lalu Edy Himawan Sutanto, Himawan Iwan Kusuma Negara Kurnia, Juan Maharani Maharani, Maharani Mahendra, Heru Masita, Nur Muhammad Mujahid Dakwah Mukmin Suryatni, Mukmin Nabila, Nabila Nurmayanti, Siti Prihatini, Annisa Cahaya Maharani Lombok Prima Astuti Handayani Putra, Muhammad Prasetya rodhi, mohammad najib Santy Nururly Suprayetno, Djoko Tridara, Baiq Ninis Wardani, Laila Wibowo, Rajata Hayya Zainal Abidin Zamroni Alpian Muhtarom Zefanya Andryan Girsang