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All Journal JAM : Jurnal Aplikasi Manajemen EKUITAS (Jurnal Ekonomi dan Keuangan) Journal of Entrepreneurship & Business International Journal of Tourism and Hospitality in Asia Pasific Journal of the Community Development in Asia Journal of International Conference Proceedings Jurnal Manajemen Pemasaran dan Perilaku Konsumen Jurnal Management Risiko dan Keuangan
Wijayanti, Risna
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Electrical & Electronics Engineering Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Social Sciences

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REDUCE MATERIAL BREAKAGE USING KEPNER-TREGOE TROUBLESHOOTING ANALYSIS IN LOGISTIC MANAGEMENT SYSTEMS Rosyadi, Dzakiyyah; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 1 No. 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (270.275 KB) | DOI: 10.21776/jmrk.2022.01.1.07

Abstract

This research study aims to discover the root cause of what could influence the number of bottle breakage in the Aqua Langkat Plant using gathered information from 20 people through purposive sampling with the characteristics of users correlating with the natural processes of bottle breakage and by direct observations through activities like Gemba Walk. The disclosure is done with descriptive research to explain the causal effects observed within the triggers listed down undergoing Kepner-Tregoe problem-solving approaches. The analysis using Situation Appraisal showed three distinctions from Langkat plant to Solok and Tanggamus plant, which affected the number of workforces, waiting time, and inspection method. Problem Analysis identified 14 abnormalities, with ten highly prioritized items and four medium prioritized items located chiefly in the loading area and warehouse. Through SCAMPER Technique, substituting the verification method and rearranging the water reuse area become the two most viable options to be implemented. With the Alternative Solutions Rating and Adverse Consequences, replacing the verification method becomes the most preferred option with the minimum risk. Preventive and contingent actions are formulated through Potential Problem Analysis to address the four undesirable situations.
VALUATION OF STOCKS LISTED ON IDX HIGH DIVIDEND 20 INDEX (2018-2020) USING DISCOUNTED CASH FLOW (DCF) MODEL Xaviera, Athena; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.02

Abstract

This research’s background was based on the increasing number of investors in Indonesia’s capital market – including stock investment – especially in 2020. With such growth and enthusiasm regarding stock investment, the stock valuation may take place so investors can attain benefits and avoid loss. IDX High Dividend 20 (IDXHIDIV20) has good performance, and investors actively trade its stocks in the market; hence, stock valuation was deemed necessary. Discounted Cash Flow (DCF) was used to determine whether stocks are undervalued, fair valued, or overvalued. The type of this research was descriptive with a quantitative approach. The sample used was stocks listed on the IDXHIDIV20 index from 2018-2020, comprised of 27 stocks. This research showed that most of the stocks were overvalued throughout 2018-2020, with a percentage of 63%, 56%, and 59%, respectively. Among 15 consistently listed on the IDXHIDIV20 index throughout 2018-2020, 11 stocks were overvalued, and four were undervalued. As for the 12 inconsistently listed stocks, five stocks were overvalued, and seven were undervalued. Investors may sell or avoid the purchase of overvalued stocks and instead buy undervalued ones.
Pengaruh Profitabilitas, Leverage, Kebijakan Dividen Terhadap Nilai Perusahaan Alviany, Hilvia; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 2 No. 1 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2023.02.1.05

Abstract

The goal of this research is to analyze the effects of profitability, leverage, and dividend policy on firm value. This quantitative explanatory research uses secondary data of sharia-compliant companies of the Jakarta Islamic Index (JII) listed on the Indonesia Stock Exchange during the 2017-2021. The samples were selected using saturated sampling with certain preset criteria. As multiple regression analysis was employed in this research, classical assumption test was performed. The results of the analyses indicate that profitability and leverage have negative and significant effects on firm value and that the influence of dividend policy is positive and significant. Therefore, the said companies are suggested to keep their focus on profitability ratio leverage, and dividend.   Abstrak Penelitian ini menggunakan analisis pengaruh profitabilitas, leverage, dan kebijakan dividen terhadap nilai perusahaan. Pada penelitian ini diugunakan dengan pendekatan kuantitatif eksplanatory research yang bersumber dari data sekunder dan dilakukan pada perusahaan syariah Jakarta Islamic Index (JII) yang terdaftar di Bursa Efek Indonesia periode 2017 – 2021. Metode penentuan sampel yang digunakan adalah sampling jenuh dengan beberapa kriteria yang telah ditentukan peneliti. Penelitian ini menggunakan analisis regresi berganda sehingga diperlukan uji asumsi klasik. Hasil dari penelitian ini menunjukkan bahwa profitabilitas dan leverage berpengaruh negatif signifikan, sedangkan kebijakan dividen berpengaruh positif signifikan terhadap nilai perusahaan. Penelitian ini memiliki implikasi bagi perusahaan untuk fokus memperhatikan rasio profitabilitas, leverage, dan kebijakan dividen dalam meningkatkan nilai perusahaan.
Analisis Kesehatan Keuangan pada Koperasi Unit Desa Devin, Levina Arista; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 2 No. 2 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2023.02.2.04

Abstract

The Cooperative Reform program run by the Ministry of Cooperative and MSME facilitates the government to determine whether certain cooperatives are healthy or not. The program has found that many of the cooperatives are not healthy, leading to their closures, which eventually reduce their number. The objective of this research is to identify and analyze the financial soundness of Village Cooperatives in Batu City during the 2016-2020 period using the Regulation of the Deputy of Control of the Ministry of Cooperative and MSME number 06/Per/Dep/IV/2016. The assessment was carried out by incorporating seven aspects; they are capital, productive assets quality, management, efficiency, liquidity, independency, growth, and self-identity. The results of the analysis indicate that Village Cooperatives in Batu City are moderately healthy with the score of 74.00 in 2016, 74.00 in 2017, 76.40 in 2018, 76.40 in 2019, 77.00 in 2020, and the total score of 75.56 for the said period. Further, self-identity is the best aspect of all in terms of performance, while efficiency is the worst aspect.   Abstrak Program “Reformasi Koperasi” yang dijalankan oleh Kementerian Koperasi dan UMKM memudahkan pemerintah untuk menilai koperasi tersebut berstatus sehat atau tidak sehat Reformasi Koperasi tersebut menghasilkan temuan banyak koperasi tidak sehat, yang pada akhirnya harus ditutup. Maka dari itu, jumlah koperasi semakin menurun pasca diterapkannya program tersebut. Penelitian ini dilakukan untuk mengetahui dan menganalisis kondisi kesehatan keuangan Koperasi Unit Desa (KUD) Kota Batu pada rentang tahun 2016-2020 berdasarkan Peraturan Deputi Bidang Pengawasan Kementerian KUKM No.06/Per/Dep/IV/2016. Penialian dilakukan dengan menggunakan tujuh aspek, yaitu permodalan, kualitas aktiva produktif, manajemen, efisiensi, likuiditas, kemadirian & pertumbuhan, dan jatidiri koperasi. Hasil penelitian menunjukan bahwa Koperasi Unit Desa (KUD) Kota Batu berstatus cukup sehat dengan skor pada tahun 2016 74,00; pada tahun 2017 skor sebesar 74,00; pada tahun 2018 skor sebesar 76,40; pada tahun 2019 skor sebesar 76,40; dan pada tahun 2020 skor sebesar 77,00. Perolehan total skor akhir sebesar 75,56 pada kurun waktu 2016-2020. Dari tujuh aspek yang dinilai, aspek jatidiri koperasi merupakan aspek yang paling bagus kinerjanya dibandingkan dengan aspek lainnya. Sedangkan aspek efisiensi merupakan aspek yang kondisinya tergolong buruk dibandingkan aspek lainnya.
Perbedaan Harga Saham, Likuiditas Saham dan Reaksi Pasar Sebelum dan Sesudah Stock Split Rahmadina, Salsabila; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 2 No. 3 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2023.02.3.04

Abstract

The objective of this study is to identify the differences in stock price, stock liquidity, and market reaction between the periods of before and after the application of stock split policy among public companies listed on the Indonesia Stock Exchange. This research uses the daily stock data from 2018 to 2022. The research population is all 42 companies listed on the stock market that split their stock during the 2018-2022 period. Using purposive sampling technique, 32 of them were selected as the sample. This research uses event study in making observation seven days prior and seven days after the stock split. The results of the analysis using Wilcoxon signed-rank test suggest that there are no significant differences in stock price between the period of before and after the stock split, but significant differences were found in stock liquidity and market reaction between the periods of before and after the stock split.     Abstrak Penelitian ini bertujuan untuk mengetahui perbedaan harga saham, likuiditas saham, dan reaksi pasar sebelum dan sesudah stock split pada perusahaan yang tercatat di Bursa Efek Indonesia. Data penelitian ini merupakan data saham harian pada periode 2018-2022. Populasi dalam penelitian ini adalah seluruh perusahaan di Bursa Efek Indonesia yang melakukan stock split pada periode 2018-2022. Pengambilan sampel menggunakan metode purposive sampling. Dari total populasi 42 perusahaan yang melakukan stock split, 32 perusahaan memenuhi kriteria menjadi sampel penelitian. Metode analisis dalam penelitian ini menggunakan studi peristiwa dengan pengamatan 7 hari sebelum dan 7 hari sesudah stock split. Hasil analisis statistik dengan menggunakan wilcoxon signed rank test menunjukkan tidak terdapat perbedaan signifikan antara harga saham sebelum dan sesudah stock split, tetapi terdapat perbedaan signifikan antara likuiditas saham dan reaksi pasar sebelum dan sesudah stock split.
Pengaruh Struktur Kepemilikan, Gender Diversity, Dan Leverage Terhadap Financial Distress Cahyaningtyas, Sindy Eka Yulianti; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 3 No. 2 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2024.03.2.04

Abstract

The purpose of this research is to identify the effects of ownership structure, gender diversity, and leverage on financial distress in property, real estate, and building construction companies listed on the Indonesia Stock Exchange in the period of 2015-2019. Here ownership structure is measured using institutional and managerial ownerships, gender diversity is measured using the number of female members of the board, leverage is measured using Debt to Asset Ratio (DAR), financial distress is measured using the Altman Z-score. The data of this study was harvested from the financial reports of 18 sample companies, selected through purposive sampling technique, and was analyzed using logistic regression in IBM SPSS 26. The results indicate that institutional and managerial ownership and gender diversity have no significant effect on financial distress, while leverage positively and significantly influences financial distress. Based on the findings above, leverage plays an important role in determining the occurrence of financial distress, yet the roles of ownership structure and gender diversity in conditioning financial distress. Therefore, companies need to pay more attention to their leverage.   Abstrak Penelitian ini bertujuan untuk mengetahui pengaruh dari stuktur kepemilikan yang diukur dengan kepemilikan institusional dan kepemilikan manajerial, gender diversity yang diukur dengan jumlah direksi wanita, dan leverage yang diukur dengan debt asset ratio (DAR) terhadap financial distress yang diukur menggunakan Altman Z-Score pada perusahaan sektor property, real estate, and building contruction yang terdaftar di Bursa Efek Indonesia tahun 2015-2019. Alat analisis yang digunakan untuk menguji hipotesis penelitian adalah Regresi Logistik dengan mengggunakan IBM SPSS 26. Data yang digunakan pada penelitian ini adalah laporan keuangan pada perusahaan sektor property, real estate, and building contruction yang terdaftar di BEI tahun 2015-2019 dengan menggunakan teknik Purposive Sampling. Berdasarkan kriteria yang ditentukan, sampel yang digunakan dalam penelitian berjumlah 18 perusahaan. Hasil penelitian menunjukkan bahwa kepemilikan institusional, kepemilikan manajerial, dan gender diversity tidak berpengaruh signifikan terhadap probabilitas financial distress, sedangkan leverage berpengaruh positif signifikan terhadap financial distress. Dari hasil penelitian yang dilakukan oleh peneliti, leverage memiliki peranan penting dalam menentukan terjadinya financial distress, sedangkan struktur kepemilikan dan gender diversity tidak memiliki peranan penting dalam menetukan financial distress sehingga perusahaan harus benar-benar memperhatikan leverage perusahaan. 
Does Financial Literacy Has Greater Role in Achieving Stock Investment Performance of College Investors? Wijayanti, Risna; Juwita, Himmiyatul Amanah Jiwa
International Journal of Tourism and Hospitality in Asia Pasific Vol 7, No 2 (2024): June 2024
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijthap.v7i2.2986

Abstract

This research aims to integrate the perspectives of rationality and irrationality, which cannot be separated in capital market participants, especially young investors, in the decision-making process of stock investment. The research emphasizes whether cognitive factors, which including financial literacy and play a more significant role. Additionally, overconfidence as behavioral aspect can serve as a mediator linking financial literacy and investment performance. Conducted on 77 students who invest in investment gallery in Malang, using random sampling techniques, the research is an explanatory study with a quantitative approach through a questionnaire processed by SEM-PLS analysis using Smart PLS 3.0. Based on the findings of this study highlight the positive influence of financial literacy on stock investment performance, while overconfidence was found to have mediating effect on relationship between financial literacy and stock investment performance. The characteristics of respondents who are young age with limited funds for stock investment leads to low expectations of returns, resulting in quick satisfaction and then affecting stock investment performance
Strengthening Village-Owned Enterprises (BUM Desa) and Joint Village-Owned Enterprises (BUM Desa Bersama) with Corporations Sulistyorini, Harlina; Setiawan, Margono; Sumiati, Sumiati; Wijayanti, Risna; Basuki, Ananto
Journal of The Community Development in Asia Vol 6, No 3 (2023): Journal of The Community Development in Asia (JCDA)
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jcda.v6i3.2165

Abstract

BUM Desa/BUM Desa Bersama requires guidance and development from government and private sectors. BUM Desa/BUM Desa Bersama can cooperate with corporations for its future development. This study aims to formulate an effective collaboration model between BUM Desa/BUM Desa Bersama and corporations that contains the following substances: 1) Identifying and analyzing the need for collaboration for BUM Desa/BUM Desa Bersama with corporations; 2) Identifying obstacles in collaboration between BUM Desa/BUM Desa Bersama and corporations; 3) Formulating effective solutions in overcoming the obstacles that arise; 4) Finding lessons learned and success factors; and 5) Formulating a collaboration model for BUM Desa/BUM Desa Bersama with corporations. This study is a collaboration between BUM Desa in Malang Regency and Batu City with a corporation that is only limited to agents-based services. BUM Desa is an extension of the corporation’s business ventures in rural areas. Financial income from the collaboration is less significant, so it is said to be the social goal of BUM Desa. This collaboration does not pose a problem since BUM Desa represents the corporation's interest and acts as directed. BUM Desa does not make policies and decisions that can increase its own profits. This collaboration is not entirely detrimental to BUM Desa, but does not contribute enough and has an economic impact on improving the village’s community welfare.
DESKRIPSI PERILAKU KONSUMEN DALAM KEPUTUSAN PEMBELIAN TERHADAP OBAT HERBAL (HERBAL MEDICINE) Shalahuddin, Laode; Wijayanti, Risna
Jurnal Manajemen Pemasaran dan Perilaku Konsumen Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmppk.2022.01.3.06

Abstract

The health industry is included in an industry that experienced an increase in 2019-2020 due to the Covid-19 (Corona Virus Disease) pandemic. This can provide benefits for Indonesia because it is one of the largest biopharmaceutical (medicinal) producing countries in the world. The objective of this research is to describe the behavior of consumers in their decision to purchase herbal medicine in the largest biopharmaceutical plant-producing region in Indonesia. The data of this research was harvested by distributing questionnaires to a sample of 120 respondents living in the said region. Using frequency distribution and description, this study finds that there are three factors shaping consumer behavior, they are psychological factor, i.e. learning, perception, motivation, and attitude and belief, social factor, i.e. culture, family, group references and social class, and marketing factor, i.e. product, price, place, and promotion. The benefit of this research is to assist herbal medicine business actors in the health industry in recognizing people's consumption behavior towards herbal medicines and is useful for future researchers in enriching discussions that focus on herbal medicine (herbal medicine).  
The Influence of Financial Literacy, Attitude toward Debt, Risk Perception, and Religiosity on Financial Satisfaction (Study on Bank Employees in East Java) Wijayanti, Risna; Cahyaningtyas, Sindy Eka Yulianti; Ismayanti, Niken Wahyu
Journal of Entrepreneurship and Business Vol. 4 No. 3 (2023): Journal of Entrepreneurship and Business (October)
Publisher : Program MM Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jeb.v4i3.5944

Abstract

Purpose: to contribute to further research on the conceptualization of financial satisfaction as a specific individual satisfaction domain based on subjective behavioral studies using a judgment approach. Financial Satisfaction is mostly studied based on standard economic theory which uses an objective approach in determining individual satisfaction with their financial conditions such as income, socio-demography, socio-capital, and socio-economy. This research examines several subjective variables in the form of judgment and examines the integrated relationship between these variables such as financial literacy, risk perception, attitudes toward debt, and religiosity. Method: The sample for this research was 100 bank employees in East Java using a random sampling method. The analysis technique used is SEM PLS. Result: The results show that financial literacy influences financial satisfaction among bank employees in East Java. Likewise, attitudes toward debt and religiosity also show an influence on financial satisfaction. Meanwhile, risk perception has no effect on financial satisfaction among bank employees in East Java.
Co-Authors Ainur Rofiq Alviany, Hilvia Azizah, Zelfi Nur Basuki, Ananto Cahyaningtyas, Sindy Eka Yulianti Devin, Levina Arista Fitriana Rahmawati Ismayanti, Niken Wahyu Juwita, Himmiyatul Amanah Jiwa Kurniawan, Ilham Agung Margono Setiawan Mugiono Mugiono, Mugiono Rahmadina, Salsabila Rosyadi, Dzakiyyah Saldianovitta, Ine Rahmadania Shalahuddin, Laode Sulistyorini, Harlina Sumiati Sumiati Tambunan, Mikael Gabe Pahala Waluyowati, Nur Prima Xaviera, Athena