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All Journal ETIKONOMI MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN Jurnal Bisnis dan Manajemen Jurnal Keuangan dan Perbankan Ekuitas: Jurnal Pendidikan Ekonomi Trikonomika: Jurnal Ekonomi Jurnal Celtic Intiqad: Jurnal Agama dan Pendidikan Islam JUIMA : Jurnal Ilmu Manajemen Journal of Economics, Business, & Accountancy Ventura The Indonesian Accounting Review Jurnal Minds: Manajemen Ide dan Inspirasi Jurnal Manajemen Teori dan Terapan JURNAL EKONOMI DAN BISNIS AIRLANGGA IDEAS: Journal on English Language Teaching and Learning, Linguistics and Literature Jurnal Riset Akuntansi Dan Bisnis Airlangga Ekonomi Bisnis Jurnal Mirai Management Jurnal Perspektif Ekonomi Darussalam SINERGI: Jurnal Ilmiah Ilmu Manajemen Jurnal Masharif al-Syariah: Jurnal Ekonomi dan Perbankan Syariah Jurnal Dinamika Ekonomi dan Bisnis Journal of Economic, Bussines and Accounting (COSTING) JURNAL ILMIAH INFORMATIKA Journal of English for Academic and Specific Purposes (JEASP) Pendas : Jurnah Ilmiah Pendidikan Dasar JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi) J-MKLI (Jurnal Manajemen dan Kearifan Lokal Indonesia) SEIKO : Journal of Management & Business Owner : Riset dan Jurnal Akuntansi Sketsa Bisnis JMM UNRAM (Jurnal Magister Manajemen Universitas Mataram) JURNAL NUSANTARA APLIKASI MANAJEMEN BISNIS EQIEN - JURNAL EKONOMI DAN BISNIS Jurnal Manajemen Strategi dan Aplikasi Bisnis YUME : Journal of Management Jurnal STIE Semarang (Edisi Elektronik) Iqtishoduna: Jurnal Ekonomi Islam Eksis: Jurnal Riset Ekonomi dan Bisnis Business and Finance Journal Arthavidya Jurnal Ilmiah Ekonomi Ekonis : Jurnal Ekonomi dan Bisnis MBIA Sang Pencerah: Jurnal Ilmiah Universitas Muhammadiyah Buton The International Journal of Business Review (The Jobs Review) JURNAL MANAJEMEN DAN BISNIS INDONESIA Jurnal Onoma: Pendidikan, Bahasa, dan Sastra Jurnal Muara Ilmu Ekonomi dan Bisnis JURNAL EKSBIS El-Barka: Journal of Islamic Economics and Business English Language in Focus (ELIF) International Journal of Economics, Business and Accounting Research (IJEBAR) Management Studies and Entrepreneurship Journal (MSEJ) Jurnal Riset Bisnis dan Manajemen Jurnal Manajemen International Journal of English Education and Linguistics (IJoEEL) Jurnal Yustisiabel Economics and Digital Business Review Jurnal Visionary : Penelitian Dan Pengembangan Di Bidang Administrasi Pendidikan Jurnal Sosial dan Teknologi Jurnal Ekonomi Efektif Jurnal Senopati : Sustainability, Ergonomics, Optimization, and Application of Industrial Engineering Jurnal Ekonomi ELTALL: English Language Teaching, Applied Linguistic and Literature Transekonomika : Akuntansi, Bisnis dan Keuangan Indonesian Journal of Economics and Management EBONY JRABA Jurnal Akuntansi dan Keuangan Journal of Innovation Research and Knowledge Jurnal Gramaswara: Jurnal Pengabdian kepada Masyarakat Jurnal Akuntansi dan Keuangan Indonesia Literacy : International Scientific Journals of Social, Education, Humanities Media Bina Ilmiah Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi) Ekonomi dan Bisnis: Berkala Publikasi Gagasan Konseptual, Hasil Penelitian, Kajian, dan Terapan Teori Jurnal Indonesia Sosial Teknologi Lex Publica Innovative: Journal Of Social Science Research Komunita: Jurnal Pengabdian dan Pemberdayaan Masyarakat International Journal of Financial and Investment Studies JSE: Jurnal Sharia Economica Jurnal Media Akademik (JMA) Ekuitas Jurnal Pnedidikan Ekonomi Konstruksi: Publikasi Ilmu Teknik, Perencanaan Tata Ruang dan Teknik Sipil Jurnal Pedagogy Jurnal Syaikh Mudo Madlawan ELT Forum: Journal of English Language Teaching ALMUSTOFA: Journal of Islamic Studies and Research Service Cermat : Jurnal Cendekiawan dan Riset Multidisiplin Akademik Terintegrasi Jurnal Akuntansi As-Sulthan Journal of Education
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Probabilitas Perusahaan Manufaktur yang Tercatat di Bursa Efek Indonesia dalam Membayar Dividen Rahmat Setiawan; Denny Hardiko Harmasanto
Ekuitas: Jurnal Pendidikan Ekonomi Vol. 7 No. 2 (2019)
Publisher : Fakultas Ekonomi Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ekuitas.v7i2.21752

Abstract

This study aims to examine the factors that influence the probability of manufacturing companies in dividends payout policy. Variables including profitability, leverage, working capital, cash reserves, cash flow, tangible assets, size and age of the company and GDP growth are considered as determinants in the company's dividend policy. Samples were taken from 112 manufacturing companies listed on the Indonesia Stock Exchange during the 2012-2018 period. Panel data analysis uses the company's annual financial statements which were tested using logistic regression. The results of the study found the fact that profitability, cash reserves, operating cash flow and firm size had a positive and significant effect on the probability of a company paying dividends. Conversely, leverage, net working capital, tangible assets and the age of the company have a negative and significant effect.
Reaksi Pasar Terhadap Hasil Quick Count Pemilu Presiden Indonesia 2019 Setiawan, Rahmat; Nisa, Zulifah Izzatin

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Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (753.224 KB) | DOI: 10.31955/mea.v4i1.198

Abstract

Penelitian ini bermaksud mengkaji reaksi pasar terhadap berita tentang publikasi hasil quick count pemilihan presiden Indonesia 2019 pada saham-saham yang masuk dalam indeks LQ-45. Reaksi pasar diukur menggunakan abnormal return yang dihitung secara rata-rata maupun kumulatif. One sample t-test digunakan sebagai instrumen uji statistik. Hasil penelitian ini menunjukkan bahwa dari 11 hari periode pengamatan, yang meliputi 5 hari sebelum pengumuman sampai dengan 5 hari setelah pengumuman, secara umum pasar bereaksi negatif terhadap pengumuman hasil quick count pemilihan presiden Indonesia 2019 pada saham-saham indeks LQ-45.
MERGER & AKUSISI DAN KINERJA PERUSAHAAN Setiawan, Rahmat; Adriani, Mirza

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Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (74.757 KB) | DOI: 10.31955/mea.v5i2.1018

Abstract

The purpose of this paper is to analyse the effect of merger & acquisition (M&A) on firm performance. This type of research is quantitative and multiple linear regression as the method. This research used 88 observations of non-financial companies who did M&A and listed on the IDX (Indonesia Stock Exchange) during 2010 until 2015. Firm fermormance as measured by ROA (return on asset) as the dependent variable in this study. M&A as independent variable in this study. This research results indicated that M&A has a significant negative effect on company performance.
TESTING THE DYNAMIC RELATIONSHIP OF INFLATION AND INTEREST RATES: FISHER EFFECT TESTING Setiawan, Rahmat
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 6 No 1 (2022): Edisi Januari - April 2022
Publisher : LPPM STIE Muhammadiah Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31955/mea.v6i1.2942

Abstract

This paper aims to investigate the testing of the dynamic relationship between inflation and interest rates, commonly known as the Fisher Effect, in both developed and developing countries. Testing The Fisher Effect is performed using dynamic models that include testing cointegration, testing with Error Correction Model (ECM), and testing with Autoregressive Distributed Lag (ADL). The use of dynamic models is chosen because the change of an economic variable no in a manner instantly causes the change of another economic variable at the same time, however, there is a time lag. The empirical test results show that: (1) the Fisher Effect occurs in developed countries and developing countries, both in the short term and in the long term, which means that the expected inflation affects positively the nominal interest rate in developed countries and developing countries, both in the short term and long term, (2) the determination of the nominal interest rate by commercial banks this month is influenced by inflation information in the previous month, or in other words, there is a time lag in the effect of inflation on interest rates.
Determinan Net Interest Margin pada Bank Perkreditan Rakyat Indonesia Rahmat Setiawan; Nindhita Rafianti Putri; Adyanto Budi Rachmansyah
Jurnal Riset Bisnis dan Manajemen Vol. 12 No. 2 (2019): Edisi Agustus
Publisher : Faculty of Economic and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (734.125 KB) | DOI: 10.23969/jrbm.v12i2.1666

Abstract

The purpose of this research is to analyze the determinants of net interest margin (NIM) at Bank Perkreditan Rakyat (BPR) or rural banks in Indonesia 2016. This research uses multiple linear regression model. Data was obtained from Infobank magazine published in July 2016-2017. This research uses 269 BPR or rural banks in Indonesia. Dependent variable in this research is Net Interest Margin (NIM). Independent variables use credit risk proxied with non-performing loan (NPL), liquidity risk proxied by loan to deposit ratio (LDR), capital adequacy proxied with capital adequacy ratio (CAR), the efficiency ratio proxied by BOPO, and bank size proxied by logarithm of total asset (SIZE). The results showed that liquidity risk, and capital adequacy have significant positive affect on net interest margin while the credit risk, efficiency ratio, and bank size affect inversely on net interest margin
Profitability of Manufacturing Firms in Indonesia Amidst the Pandemic Sholikha Oktavi Khalifaturofi'ah; Rahmat Setiawan
ETIKONOMI Vol 23, No 2 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i2.35169

Abstract

Research Originality: In the realm of manufacturing firms, the pursuit of profitability remains a foremost concern. This paper distinguishes itself through its innovative approach, integrating key factors such as liquidity, leverage, activity, and the influence of the COVID-19 pandemic. Utilizing panel regression analysis, the study scrutinizes Indonesia's total manufacturing firms to shed light on this critical issue.Research Objectives: This study primarily aims to evaluate the profitability of manufacturing firms in Indonesia. It specifically delves into the impact of liquidity, leverage, and activity measures on profitability, while also examining how the COVID-19 pandemic factors into this equation.Research Methods: Employing a quantitative approach, this study utilizes panel data gathered from 134 manufacturing firms in Indonesia spanning from 2018 to 2023. The analysis relies on a panel regression model to draw insights.Empirical Results: The analysis yields significant findings. Notably, leverage demonstrates a negative and statistically significant influence on manufacturing firms' profitability, whereas firm activity shows a positive and statistically significant effect. Conversely, liquidity and the COVID-19 pandemic appear to have negligible impacts on profitability.Implications: These findings hold critical implications for policymakers and practitioners within Indonesia's manufacturing sector. To bolster the profitability of manufacturing firms, policymakers should prioritize reducing leverage and fostering increased company activity, possibly through amplified sales efforts.JEL Classification: G32, G33, G01, L60How to Cite:Khalifaturofi’ah, S. O., & Setiawan, R. (2024). Profitability of Manufacturing Firms in Indonesia Amidst the Pandemic. Etikonomi, 23(2), 497-510. htttps://doi.org/10.15408/etk.v23i2.35169.
Komisaris Independen dan Kinerja Perusahaan Dengan Kepemilikan Pemerintah Sebagai Pemoderasi Setiawan, Rahmat; Qatrunnada, Nisrina; Sari, Yuli Indri
Jurnal Manajemen dan Kearifan Lokal Indonesia Vol 7 No 2 (2023)
Publisher : Asosiasi Peneliti Manajemen Adat Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26805/jmkli.v7i2.194

Abstract

Komisaris independen dan kinerja perusahaan telah menjadi isu yang menarik untuk diteliti. Banyak penelitian telah dilakukan sehubungan dengan topik ini, walaupun hasil penelitian-penelitian tersebut masih kontroversial, namun kebanyakan penelitian melaporkan hasil adanya hubungan positif antara komisaris independen dan kinerja perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh jumlah dan persentase komisaris independen terhadap kinerja perusahaan, dan apakah pengaruh tersebut berbeda bagi perusahaan BUMN dibanding perusahaan swasta. Penulis menggunakan sampel perusahaan non-keuangan BUMN dan perusahaan non-keuangan swasta di Indonesia. Hasil regresi linear berganda menunjukkan bahwa komisaris independen berpengaruh positif signifikan terhadap kinerja perusahaan dan kepemilikan pemerintah memperkuat pengaruh positif komisaris independen terhadap kinerja perusahaan. Hal ini menunjukkan bahwa perusahaan BUMN lebih membutuhkan peran komisaris independen dibanding perusahaan swasta.
PENGELUARAN R&D DAN KINERJA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA YANG DIMODERASI OLEH USIA PERUSAHAAN Setiawan, Rahmat; Harmasanto, Denny Hardiko
Jurnal Riset Akuntansi Dan Bisnis Airlangga Vol 4 No 2 (2019): Jurnal Riset Akuntansi dan Bisnis Airlangga
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jraba.v4i2.46041

Abstract

The purpose of this study is to examine the effect of research and development expenditure on the company's financial performance and prove the influence of corporate age moderation. The research population consisting of 140 manufacturing companies listed on the Indonesia Stock Exchange was selected using the purposive sampling method. The final sample size is 113 companies that provide annual financial statements from 2012-2017. The unbalanced panel data analysis uses variables in the company's annual reports that are tested using OLS regression. The results found that companies investing in R&D experienced a 3% increase in sales compared to companies that did not spend in R&D. Further testing also found that the age of the company moderated the relationship between R&D expenditure and financial performance, where older companies that invest in R&D produced 0.1% more sales and 0.6% higher profits than younger companies in the manufacturing industry. The conclusion of this study is that the effect of R&D expenditure on sales and net profit cannot be directly felt in the current year. R&D spending like other types of investment requires time to be able to contribute to the company's sales and net profit. The findings of this study provide support that R&D spending is a driving force for innovation in endogenous growth theories
Volatilitas Arus Kas terhadap Kredit Perdagangan dengan Ukuran Perusahaan sebagai Variabel Moderasi Setiawan, Rahmat; Nareswari, Rr. Alvita Aulia
MBIA Vol. 22 No. 3 (2023): Management, Business, and Accounting (MBIA)
Publisher : Direktorat Riset dan Pengabdian kepada Masyarakat Universitas Bina Darma

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33557/mbia.v22i3.2489

Abstract

This study aims to determine the effect of cash flow volatility on trade credit and whether firm size moderates the influence of cash flow volatility on trade credit. This study has a 129 sample with 589 observation manufacturing companies in Indonesia listed on the Indonesia Stock Exchange (IDX) in the 2016-2020 period. The sampling method used is purposive sampling, and the analytical method used is Multiple Linear Regression Analysis and Moderated Regression Analysis (MRA). The results of this study indicate that cash flow volatility has a significant negative effect on trade credit, and firm size significantly weakened the influence of cash flow volatility on trade credit. The control variable in this study, leverage, does not affect trade credit; sales growth has a positive effect on trade credit, and days sales in inventory have a negative effect on trade credit. Keywords: Trade Credit, Cash Flow Volatility, Firm Size Abstrak Penelitian ini bertujuan untuk mengetahui pengaruh volatilitas arus kas terhadap kredit perdagangan dan apakah ukuran perusahaan memoderasi pengaruh volatilitas arus kas terhadap kredit perdagangan. Penelitian ini menggunakan 129 sampel dengan 589 observasi perusahaan manufaktur di Indonesia yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016-2020. Pemilihan sampel menggunakan metode purposive sampling. Metode analisis yang digunakan adalah analisis regresi linear berganda dan regresi moderasi. Hasil penelitian menunjukkan volatilitas arus kas berpengaruh negatif signifikan terhadap kredit perdagangan dan ukuran perusahaan secara signifikan memperlemah pengaruh volatilitas arus kas terhadap kredit perdagangan. Variabel kontrol pada penelitian ini yaitu leverage tidak berpengaruh signifikan terhadap kredit perdagangan, sales growth berpengaruh positif terhadap kredit perdagangan, dan days sales in inventory berpengaruh negatif terhadap kredit perdagangan. Kata kunci: Kredit Perdagangan, Volatilitas Arus Kas, Ukuran Perusahaan
Perubahan Dividen dan Catering Incentives Setiawan, Rahmat; Yanuaristya, Nina; Andaran, Vanya Jossi
Jurnal Mirai Management Vol 9, No 1 (2024)
Publisher : STIE AMKOP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/mirai.v9i1.6574

Abstract

This research tests the extend of catering theory of dividend by using dividend changes including dividend increase and decrease. The purposes of this research are to determining the effect of catering incentives on the decision to increase and decrease dividends and the magnitude of the dividend increase and decrease. Based on the studies that have been conducted, there is still little research on testing the theory of dividend catering in companies in Indonesia. Previous research also used models that only included companies classified as dividend payers and non-payers, while companies are more often faced with decisions related to changes in the level of dividends paid than decisions to pay or not to pay dividends. On the basis of this phenomenon, this study further examines catering incentives and their effect on dividend changes. This research uses 106 non-financial companies listed on the Indonesian Stock Exchange during 2006–2013, with a sample size of 343 observations. The analysis techniques used in this study are logistic regression analysis and multiple linear regression using panel data. The results of the research showed that catering incentives measured by dividend premiums have a significant positive impact on decisions to increase dividends and a significant negative impact on decisions to decrease dividends. Furthermore, catering incentives have a significant positive impact on the magnitude of dividend increases and a significant negative impact on the magnitude of dividend decreases. Company management needs to consider dividend premiums to determine the demand of capital market investors on dividends with the aim of maximizing the market price of the company. Keywords: Catering, dividend policy, dividend changes
Co-Authors Abdul Malik Akmal Abdulrohim E-sor Acchedya Anugrahani Acchedya Anugrahani Ade Putra, Bayu Adelisa, Rana Adhim, Syarif Aditya Daru Pangaripto Aditya Sahrul Aditya Sahrul Bagaskara Adriani, Mirza Adyanto Budi Rachmansyah Agil Fahad Rizkillah Agustin, Hamdi Agustina, Eliasanti Ahmad Aziz Putra Pratama Ahmad Naufal Arrafi Aji Brahmanstya Lino Pratama Aldith Dea Almeyda Alfiani, Ika Alviyah Rahmah Amiruddin Siregar Andanty, Ferra Dian Andaran, Vanya Jossi Andi Karman Andri Rianawati Angelina, Viola Anggraeni Anggraeni Annisa Shabrina Annisa’ush Shafiyah Azzahrah Anugrah Ugga Praceka Anwar, Sholihul Arfian Reza Fahrezhy Arizqa Miftahurrohmah Arka Prabaswara Artha Merika Indah Puspita Sari Artha Merika Indah Puspita Sari Artha Merika Indah Puspita Sari Aslam, Annisa Paramaswary Astutik, Novita Juni Aulia Claraning Sukmawati Aulia Damanti Halim Bagus Surya Muhammad Baiturrochimah Baiturrochimah Basuki , Basuki Basuki BASUKI BASUKI Basuki Basuki BENI SETIAWAN Birda Lista Dewi Budi Yuda Prawira Cahyani, Desy Eki Cahyani, Puput Chandrasari, Damajanti Christiana, Nova Christiana, Nova Dendy Suarista Suryanegara Denny Adi Nugroho Denny Hardiko Harmasanto Denny Hardiko Harmasanto Dewi, Ambarsari Sukma Dhealelia Munandari Dining Octahayu Doyat, Dolmat E-sor, Abdulrohim Efa, Delavilanda Baby Elia, Eliasanti Agustina Elliv Hidayatul Lailiyah Elsa Yustika Putri Enggo Pradenta Sakti Erika Sefila Putri Erry Wisudawan Pradana Fadilatul Jennah Fajar Susanto Fatoni, Sahrul Febrianti, Adhela Fenda Puspita Anggraini Fikriananda Addo Rahmawan Fisca Fideline Palullungan Fitri, Nabila Nur Garina Irmayanti Hafiz, Fakhri Handayani, Sri Hanif, Muhammad Abdul Harianto, Asis Harmasanto, Denny Hardiko Hazwari Hasan Hehanussa, Deassy J. A. Helfisar, Desmarani Hena Rachmawati Herlinawati I Made Sudana Iasya, Lubna Ida Masriani Indah Susilowati Indira Nuansa Ratri Irfan Handiliastawan Irfan, Muhamad Irfianti, Santi Irsan Rahman, Irsan Irwan Hidayatullah, Irwan Ivan Virnandyto Ivone Dona Khoirun Nisa Jumadil, Moh Rizky A Khalifaturofi'ah, Sholikha Oktavi Khalishatul Fajri Khoirotunnisa, Fani Kinasih, Titah Koko Sudiro Koko Sudiro Kumar Singh, Sanju Kumar Kurnia, Meytha Dwi Kurniadiansyah, Meytha Dwi Kurniawan, Kukuh Dwi Kusriani, Ruri Kusumawati, Nunik Dwi Lila Gestanti Lila Gestanti Lukas Nusa Wedeo Lewa Lumumba, Ahmad Wisesa M Mongdong, Novita Maemunah Maemunah Mario Zagarino Laning MAROA, MUSTATING DAENG Masfufah Masfufah Mesta Pramika Mirza Adriani Moh Maulidi Syarif Moh. Nur, Nirwan Mohamad Hidayat Muhtar Muchtar, Hendi S. Muh. Nasihin Muhamad Fathoni Muhammad Ilham Thamrin Muhammad Iqbal Faizul Mustofa Muhammad Wildan Nurrahman Anjanarko Nabhan, Salim Nabilah Ratnaduhita Firjatullah Nanda Surya Jatnika Nareswari, Rr. Alvita Aulia Nasrullah, Dinda Maharani Nastifa, Dwi Naulybasha, Anisa Yulia Nila Afrianti Nindhita Rafianti Putri Ninditya Nareswari Nisa, Zulifah Izzatin Nova Christiana Nunik Dwi Kusumawati Nur Aini Fitria Nur Anisa Nurdi, Nabilla Aisyah Nurmitananda, Muhammad Naufal Hamdani Nurussyifa, Salsabila Octavia Reniar Putri Octavia Reniar Putri Oriza Herlina Amalia Permatasari , Ririn Pradana, Erry Wisudawan Prakoso, Leonardus Prakoso, Rahmat Bagas Pratiwi, Rezza Gustantya Priyanto Priyanto Putri Anjani, Ajeng Galuh Putri, Meia Rizqi Talitha Putu Ayu Indira Savitri Suryana Pwee Leng Pwee Leng Qatrunnada, Agatha Fitri Qatrunnada, Nisrina Qurrotul Ainiyah, Qurrotul Rachmansyah, Adyanto Budi Rahmawati, Setia Dwi Ratna Rana Adelisa Rays, M. Ikhwan riska agustin Riska Agustin Rosmiati Jafar Rosmiati Jafar Salsabila Barasyid Sanju Kumar Singh Sari, Yuli Indri Savira Rizma Yunita Sembiring, Rinawati Shafira Mahdiyah Rachma Shafiyah Azzahrah, Annisa’ush Sholihul Anwar Siburian, Henry Kristian Sopian SRI NURHIDAYAH Sucipto, Dri Sukisno Sukisno, Sukisno Sulistijanti, Wellie Sunarso Suprayitno, Muhammad Robeth Syahria, Nukmatus Syarifah Hanifah T.M., Eka Putri Tanti Aprinia Ulinnuha Khoirul Rizal Uliyah, Putri Ridhotul Ummah, Lailatussafiil Utama, Reski Putra Valiant Nur Hasyim Wibowo, Wisnu Widharta, Anggita Ayu Windy Priga Oktini Yanuaristya, Nina Yohanes Richardo Halim Yuhelson Yuhelson Yunan Alhamda Prasetya Zuhroida Bella Meilina Zulifah Izzatin Nisa Zulkifli Rusby