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All Journal Owner : Riset dan Jurnal Akuntansi JURNAL VISIONIDA JURNAL AKUNIDA Jurnal Pengabdian Masyarakat (ABDIRA) Journal Of World Science International Journal of Multidisciplinary Research and Literature (IJOMRAL) Utsaha: Journal of Entrepreneurship Journal of Social Studies, Arts and Humanities (JSSAH) International Journal Administration, Business & Organization International Journal of Science and Environment The Es Economics and Entrepreneurship The Es Accounting and Finance
Indrayono, Yohanes
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Empirical Study on Event Study Model on Biotech Stock Market Umayi Ananda, Woro; Gursida, Hari; Indrayono, Yohanes
Journal of World Science Vol. 2 No. 4 (2023): Journal of World Science
Publisher : Riviera Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58344/jws.v2i4.270

Abstract

Biotechnology today is used to develop and play an important role both in terms of the discovery of drug development that is a breath for the continuity of the pharmaceutical industry. The purpose of this research is to find out and analyze empirical studies on the event study model in the biotech stock market. This study uses a type of quantitative method, sampling using purposive sampling. Based on the results of the study, there is an influence of financial literacy, personal interest, and environment on interest in investing in the biotechnology stock market, there is an influence of financial literacy on interest in investing in the biotechnology capital market, there is an influence of personal interest on interest in investing in the biotechnology capital market, there is an influence of environment on interest in investing in the biotechnology capital market. Biotechnology plays an important role in the development of medicines and has a positive impact on the stock market and economy. Investing in biotech stocks requires adequate knowledge and a wise approach to avoid irrational investment practices and risks. It is expected that the younger generation will consider investing in the biotech sector, particularly in the pharmaceutical industry, to achieve sustainable profits.
Financial Literacy Model for MSMEs as a Financial Performance Measurement Tool (Case Study of MSMEs in Bogor, Depok, and Kuningan) Setiawati, Sri; Gursida, Hari; Indrayono, Yohanes
Journal of World Science Vol. 4 No. 2 (2025): Journal of World Science
Publisher : Riviera Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58344/jws.v4i2.1303

Abstract

Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in the Indonesian economy; however, they encounter various challenges in effectively managing their finances. Financial literacy serves as a pivotal factor influencing the financial performance of MSMEs. This study seeks to analyze the correlation between financial literacy and the financial performance of MSMEs across three regions: Bogor, Depok, and Kuningan. A quantitative study methodology was employed, utilizing a survey of MSME owners as respondents. Data were gathered through a questionnaire to assess financial literacy and financial performance, measured by profitability, operational efficiency, and business sustainability indicators. The findings indicate a significant relationship between the financial literacy level and MSMEs' financial performance. MSMEs exhibiting higher levels of financial literacy tend to demonstrate superior financial performance compared to those with lower levels of financial literacy. The implications of this study emphasize the necessity of enhancing financial education programs for MSME stakeholders to improve their capabilities in efficiently managing business finances.
Profitability as a Moderator in the Effect of RGEC-Based Banking Health on Firm Value: Evidence from IDX-Listed Banks (2019–2023) Marsifa; Gursida, Hari; Indrayono, Yohanes
International Journal Administration, Business & Organization Vol 6 No 3 (2025): IJABO
Publisher : Asosiasi Ahli Administrasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61242/ijabo.25.545

Abstract

This study examines the effect of banking health, measured using the RGEC method comprising Risk Profile (Non-Performing Loans/NPL), Good Corporate Governance (GCG), Earnings (BOPO), and Capital (Capital Adequacy Ratio/CAR), on firm value with profitability, represented by Return on Assets (ROA), as a moderating variable. The research is driven by inconsistencies between theoretical expectations and empirical data in Indonesia’s banking sector during 2019–2023. It aims to determine the extent to which RGEC components affect firm value and whether ROA strengthens or weakens these relationships. The sample consists of banking companies listed on the Indonesia Stock Exchange (IDX) between 2019 and 2023. A quantitative approach is employed using panel data regression to examine direct effects and Moderated Regression Analysis (MRA) to assess interaction effects. The findings reveal that the impact of NPL, GCG, BOPO, and CAR on firm value (measured by Price to Book Value/PBV) varies across indicators. While ROA significantly influences firm value, its moderating effect is only partially confirmed. These results indicate that profitability does not consistently amplify the influence of RGEC variables on firm value, suggesting the presence of other influencing factors such as macroeconomic conditions or managerial practices. This study emphasizes the importance of strengthening financial performance alongside good governance, effective risk management, and capital efficiency to enhance sustainable firm value. The findings provide practical implications for bank managers and regulators in aligning profitability strategies with efforts to increase market valuation.
Analysis of Fraud Hexagon Dimensions and Their Effect on Financial Reporting Fraud Using the Beneish M-Score: Evidence from Infrastructure Companies Listed on the IDX (2020–2024) Melani Purnama; Hardiyanto, Arief Tri; Indrayono, Yohanes
International Journal Administration, Business & Organization Vol 6 No 3 (2025): IJABO
Publisher : Asosiasi Ahli Administrasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61242/ijabo.25.569

Abstract

Financial statement fraud poses a major risk to stakeholders as it obscures a firm’s true financial condition, disrupts market efficiency, and weakens corporate governance. This study investigates the determinants of financial statement fraud in Indonesian infrastructure firms listed on the stock exchange by applying the Fraud Hexagon framework, comprising pressure, opportunity, rationalization, capability, ego, and collusion, while incorporating political connections and discretionary accruals as additional factors. Using a quantitative approach with logistic regression on panel data from 2020–2024, the results show that external pressure, financial performance targets, weak monitoring, market outcomes, and political ties significantly increase the likelihood of fraudulent financial reporting. Discretionary accruals also demonstrate a strong association with fraud, indicating managers’ opportunistic earnings manipulation. The findings empirically support the extended Fraud Hexagon framework in the Indonesian context and highlight the reinforcing role of political connections in unethical financial behavior. This study contributes to theory and practice by offering insights for regulators, auditors, and policymakers to strengthen fraud detection and prevention mechanisms.
PENGARUH UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI Indra Cahya, Kusuma; Gursida, Hari; Indrayono, Yohanes
Jurnal Visionida Vol. 11 No. 2 (2025): Desember
Publisher : Fakultas Ekonomi Universitas Djuanda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30997/jvs.v11i2.22883

Abstract

This study aims to prove whether company size can increase company value and whether profitability can mediate company size in increasing company value. The population of this study is issuers in the food and beverage sub-sector listed on the Indonesia Stock Exchange (IDX) for 5 years (2020-2024), totaling 95 companies. The sampling technique used a purposive sampling technique so that from the 95 population, 13 companies can be sampled. Thus, the study used 65 observational data collected in time series. The data analysis technique used Multiple Regression Panel Data with the help of the statistical tool EViews 12 Full Version. The results of this study found evidence that company size directly affects company value and profitability cannot mediate the relationship between company size and company value.
PENGARUH STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN YANG DIMEDIASI OLEH KEBIJAKAN DIVIDEN Gursida, Hari; Indrayono, Yohanes; Kusuma, Indra Cahya
Jurnal Akunida Vol. 11 No. 2 (2025): December
Publisher : Universitas Djuanda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30997/jakd.v11i2.22921

Abstract

Nilai perusahaan merupakan ukuran nilai ekonomi total suatu bisnis yang mencerminkan persepsi investor terhadap kinerja dan prospek masa depan perusahaan. Penelitian ini bertujuan untuk membuktikan apakah struktur modal dapat meningkatkan nilai perusahaan dan apakah kebijakan dividen dapat memediasi struktur modal terhadap nilai perusahaan. Populasi penelitian ini adalah emiten pada Sub Sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) selama 5 tahun (2020-2024) yang berjumlah 95 perusahaan. Teknik pengambilan sampel menggunakan teknik purposive sampling sehingga dari 95 populasi, yang dapat dijadikan sampel sebanyak 13 perusahaan. Dengan demikian penelitian menggunakan 65 data pengamatan yang dikumpulkan secara time series. Teknik analisis data menggunakan Regresi Berganda Data Panel dengan bantuan alat statistik EViews 12 Full Version. Hasil penelitian menemukan bukti bahwa struktur modal tidak berpengaruh langsung terhadap nilai perusahaan, kebijakan dividen berpengaruh langsung terhadap nilai perusahaan. Untuk kebijakan dividen memediasi hubungan antara struktur modal terhadap nilai perusahaan.
Penguatan Literasi Digital dan Inovasi Kewirausahaan UMKM melalui Program Pengabdian Masyarakat Berbasis AI Marketing Muflihah, Muflihah; Indrayono, Yohanes; Primata, Lusiana Ratna; Lupiyanto, Lupiyanto
Jurnal Pengabdian Masyarakat (ABDIRA) Vol 6, No 1 (2026): Abdira, Januari
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/abdira.v6i1.1265

Abstract

This community service activity was carried out as an effort to address the issue of low levels of innovation and entrepreneurial behaviour among MSME actors in the Bojong Rangkas Tourism Village, Bogor Regency. Through training on Artificial Intelligence (AI) Marketing and financial literacy, the service team aimed to foster digital adaptation skills and innovative entrepreneurial behaviour. The activity employed methods such as lectures, demonstrations, and hands-on mentoring sessions involving 30 local MSME participants. The results showed a 68% increase in participants’ understanding of AI-based digital marketing concepts, as well as a rise in motivation to develop product innovations and marketing strategies. The main inhibiting factors were limited digital infrastructure and participants’ low self-confidence in using new technologies. This programme is expected to encourage more adaptive, creative, and innovation-oriented entrepreneurial behaviour among MSME actors.
Co-Authors Agung Fajar Ilmiyono Hamzah, Zeze Zakaria Hardiyanto, Arief Tri Hari Gursida Hendro Sasongko Herdiyana, Herdiyana Hurriyaturrohman Hurriyaturrohman ibram pinondang dalimunthe, ibram pinondang Indra Cahya Kusuma Indra Cahya, Kusuma Lupiyanto, Lupiyanto Marsifa Maulana, Dede Hikmat Melani Purnama muflihah muflihah Muhammad Iqbal Primata, Lusiana Ratna Salsabila, Sharah Sianipar, Makmur Sri Setiawati, Sri Umayi Ananda, Woro