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Factors and Strategies Affecting and Improving Financial Performance of Old Age Protection Lumban Benget Hutajulu; Wita Juwita Ermawati; Alim Setiawan Slamet
International Journal of Social Science and Business Vol. 7 No. 1 (2023): February
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v7i1.52570

The financial performance of the Old Age Security fund held by BPJS Ketenagakerjaan as an institution that is trusted to provide sustainable social security needs to receive great attention nowadays. This research aims to determine factors and strategies affecting and improving financial performance of old age protection in BPJS Ketenagakerjaan. In this study, there are five independent variables such as: Solvability ratio, effectiveness of membership, effectiveness of dues, efficiency ratio, and varian ratio, while dependent variable is growth assets measured by Return on Net Asset Ratio. T-Test was used to find out the difference of financial condition before and during pandemic, the method of multiple linear regression analysis with dummy variable was utilized with using 2019 and 2020 data to determine the factors that influence financial performance, and SWOT analysis used to determine strategies to improve financial performance. The result of this study shows that financial condition is different before and during pandemic, then solvability, effectiveness of membership, and efficiency factors significantly affect the financial performance of old age security program before and during pandemic. The strategies resulted from SWOT factors include: law enforcement, training, education and etc., related to old age financial performance. At the end, this study is expected to help management in BPJS Ketenagakerjaan improve financial performance of old age security program.

Revitalization of Organization and Business Determination of BUMDes Cibadak Mandiri of Cibadak Village, Ciampea District, Bogor Regency Mokhamad Syaefudin Andrianto; Rindang Matoati; Wita Juwita Ermawati
Jurnal Pengabdian kepada Masyarakat (Indonesian Journal of Community Engagement) Vol 9, No 1 (2023): March
Publisher : Direktorat Pengabdian kepada Masyarakat Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jpkm.79467

BUMDes Cibadak Mandiri has stopped operating, so to revive it, it must be replaced by new management. The new management seeks a partner to restore and run the business. The "Dosen IPB Mengabdi" program in BUMDes Cibadak Mandiri aims to assist management in analyzing and evaluating previous management problems, determining business priorities, and motivating new management. The method used in analyzing the problem was a fishbone diagram with a participatory approach and used the brainstorming approach to determine priority business. Management, business unit leaders, and local participants attended the activity. The six main issues found were a need for more capability of human resources, capital, business partner responsibilities, unstructured organization/management, nonperforming loan, and lack of market understanding. Several alternatives were proposed by participants, such as gathering/workshops, training, looking for committed people, investors, and open recruiting volunteers. At the same time, the business priorities that should be carried out are karst mountain tourism, distribution and management of clean water (PAM), and bottled drinking water (AMDK). The methods were conducted to raise awareness of the new board and the role of related stakeholders, especially agreements in describing problems, alternative solutions, and choices of BUMDes business priorities. These processes give valuable insight into the current state of management to reactivate of BUMDes and alternatives action to tackle this situation

The influence of Indonesia’s macroeconomic factors: Inflation and interest rate on large-cap cryptocurrency herding behavior Muhamad Rizky Ramadhan; Wita Juwita Ermawati; Anna Fariyanti
Journal of Accounting and Investment Vol 24, No 2: May 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i2.18146

Research aims: This study aims to investigate herding behavior in the large-capitalization cryptocurrency market and analyze the role/influence of Indonesia's macroeconomic factors, namely inflation and interest rates, on herding behavior in the large-cap cryptocurrency market.Design/Methodology/Approach: This study used secondary data from the daily closing prices of five large-cap cryptocurrencies and Indonesia's macroeconomic data (inflation and interest rates) from April 2019 to December 2022 by using the Cross-Sectional Absolute Deviation (CSAD) model and Newey-West estimator regression approach to detect herding behavior with a modified independent variable model involving factors influencing herding behavior.Research findings: Based on the results using the Newey-West estimator, three main results were obtained. First, large-cap cryptocurrency investors tend to be irrational in their decisions and follow the decisions of others without reference to their beliefs or herding during the sample period. Second of the two macroeconomic factors studied, i.e., inflation and interest rates, only changes in inflation rates influence investor herding behavior. Third, the market is inefficient with the proven tendency of herding behavior in large-cap cryptocurrencies.Practical and Theoretical contribution/Originality: This study narrows down the research of previous studies by using cryptocurrency research objects with a large market capitalization (large cap). In addition, this research extends the research of previous studies by considering external factors related to macroeconomic conditions in Indonesia in general, such as the inflation rate and the interest rate. This study can provide information about financial behavior in the cryptocurrency market, especially herding behavior, so that investors and policymakers can be assisted in formulating investment strategies and regulating cryptocurrencies.Research limitation: This research was limited to using only cryptocurrency assets by not using crypto-tokens, non-fungible tokens (NFT), and other crypto-assets.

PERAN MEDIASI IMPLEMENTASI SAP BERBASIS AKRUAL TERHADAP EFEKTIFITAS IKLIM KOMUNIKASI DAN KINERJA SIPKD Asrini, Asrini; Musnaini, Musnaini; Wita Juwita Ermawati; Khaira Amalia Fachrudin; Juanda, Juanda; Conchita Valentina Latupapua
Develop Vol 8 No 1 (2024)
Publisher : Universitas Dr. Soetomo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25139/dev.v8i1.7350

This study aims to explain the role of accrual-based SAP implementation in mediating the influence of communication climate antecedents that affect the performance of regional financial management information systems directly and indirectly. the research approach uses quantitative, with random sampling techniques distributing 100 questionnaires to employees of the planning and finance sections in 10 Jambi Regional Government Organizations. data analysis Path Least Square with SMARTPLS software. the results of these findings indicate that the climate directly affects SIPKD Performance unaccepted, while indirectly accepted full mediation. This shows that the role of mediation is key to SIPKD performance in local government. further research can develop hypotheses on the simultaneous influence of the communication climate and the implementation of accrual-based SAP on SIPKD performance.

Capital Asset Pricing Model (CAPM) Analysis: Technology Sector Stock Conditions Before and During the Pandemic Rizky Ramadhoni, Refindi; Matoati, Rindang; Rahmawati, Siti; Kaewlaead, Chuta; Juwita Ermawati, Wita
Jurnal Manajemen dan Organisasi Vol. 15 No. 2 (2024): Jurnal Manajemen dan Organisasi
Publisher : IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jmo.v15i2.56449

The COVID-19 pandemic made people more active in saving, such as investing in the capital market. Stocks in the technology sector were excellent stocks because the trading volume increased by up to 7.3 times during the pandemic. The Capital Asset Pricing Model (CAPM) was a model to see the expected rate of return and aimed to assist investors in making investment decisions. CAPM used beta (β) to measure the sensitivity a stock or portfolio is to market movements. Beta indicates the tendency of an asset's return to react to fluctuations in the overall market. This study aimed to look at differences in technology sector stocks in the period before and during the pandemic using the CAPM method and paired t-test. The research using a purposive sampling method. A quantitative descriptive method was used in this study and used secondary data in the form of financial statements of technology sector companies listed on the Indonesia Stock Exchange. Based on the results of the study, seven stocks had an average negative return before the pandemic and positive returns during the pandemic. There was one efficient stock in the pre-pandemic period and six inefficient shares, and seven shares were classified as efficient shares during the pandemic. The results of the paired t-test showed that there was a significant difference between individual returns before and during the pandemic.

Analisis Penerapan Model UTAUT 2 Behavioral Intention dan Use Behavior Penggunaan Aplikasi Pedulilindungi Fauziah, Amelisa; Juwita Ermawati, Wita; Hidayati, Nurul
Jurnal Manajemen dan Organisasi Vol. 15 No. 3 (2024): Jurnal Manajemen dan Organisasi
Publisher : IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jmo.v15i3.54638

The increase in COVID-19 positive cases in Jakarta Province in 2022, namely 1,112,007 positive cases of COVID-19 and among them 14,239 of them died, has become an alarm for the Indonesian government to immediately take effective countermeasures. This is because Jakarta is the largest government and economic center in Indonesia. One of the efforts made is by enforcing the Restriction of Community Activities (PPKM). This PPKM aims to limit community mobility in various sectors in order to minimize the chain of spread of COVID-19 cases in Indonesia. The implementation of Community Activity Restrictions (PPKM) has led to restrictions on community movement across various sectors. To monitor this mobilization, the government introduced the PeduliLindungi digital platform in April 2020 as part of its ongoing strategy to manage the COVID-19 pandemic. This study aimed to evaluate the acceptance and usage of the PeduliLindungi app using the UTAUT2 model. Conducted in 2022, the research employed purposive sampling with 256 respondents. Descriptive analysis and Structural Equation Modeling (SEM) – PLS were used for data analysis. The findings reveal that four UTAUT2 factors—performance expectancy, facilitating conditions, price value, and habit—impact Behavioral Intention. Specifically, higher levels of satisfaction and habitual use of PeduliLindungi strengthen the intention to use the app. Facilitating conditions, habit, and Behavioral Intention also influence actual usage behavior: better facilitating conditions correlate with more frequent use of PeduliLindungi. Additionally, the study found that variables such as age, gender, and internet experience did not significantly affect Behavioral Intention or usage behavior.

The influence of Indonesia’s macroeconomic factors: Inflation and interest rate on large-cap cryptocurrency herding behavior Muhamad Rizky Ramadhan; Wita Juwita Ermawati; Anna Fariyanti
Journal of Accounting and Investment Vol. 24 No. 2: May 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i2.18146

Research aims: This study aims to investigate herding behavior in the large-capitalization cryptocurrency market and analyze the role/influence of Indonesia's macroeconomic factors, namely inflation and interest rates, on herding behavior in the large-cap cryptocurrency market.Design/Methodology/Approach: This study used secondary data from the daily closing prices of five large-cap cryptocurrencies and Indonesia's macroeconomic data (inflation and interest rates) from April 2019 to December 2022 by using the Cross-Sectional Absolute Deviation (CSAD) model and Newey-West estimator regression approach to detect herding behavior with a modified independent variable model involving factors influencing herding behavior.Research findings: Based on the results using the Newey-West estimator, three main results were obtained. First, large-cap cryptocurrency investors tend to be irrational in their decisions and follow the decisions of others without reference to their beliefs or herding during the sample period. Second of the two macroeconomic factors studied, i.e., inflation and interest rates, only changes in inflation rates influence investor herding behavior. Third, the market is inefficient with the proven tendency of herding behavior in large-cap cryptocurrencies.Practical and Theoretical contribution/Originality: This study narrows down the research of previous studies by using cryptocurrency research objects with a large market capitalization (large cap). In addition, this research extends the research of previous studies by considering external factors related to macroeconomic conditions in Indonesia in general, such as the inflation rate and the interest rate. This study can provide information about financial behavior in the cryptocurrency market, especially herding behavior, so that investors and policymakers can be assisted in formulating investment strategies and regulating cryptocurrencies.Research limitation: This research was limited to using only cryptocurrency assets by not using crypto-tokens, non-fungible tokens (NFT), and other crypto-assets.

Pengaruh Environment, Social and Governance terhadap Kinerja Perusahaan IDX ESGL dengan Variabel Moderasi Transformasi Digital Aushaf Indra Luhfhi, Gusti; Mulyati, Heti; Juwita Ermawati, Wita
Jurnal Manajemen dan Organisasi Vol. 16 No. 3 (2025): Jurnal Manajemen dan Organisasi
Publisher : IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jmo.v16i3.63639

The role of Environmental, Social, and Governance (ESG) in influencing company performance has become a central topic in many investment considerations today. However, in its development, ESG alone has not been sufficient to deliver a significant improvement. Therefore, Digital Transformation (DT) has begun to be utilized to enhance the effectiveness of ESG. This study aims to analyze the effect of ESG on the performance of companies listed in the Indonesia Stock Exchange Environmental, Social, and Governance Leaders Index (IDX ESGL), with digital transformation as a moderating variable. The sample consists of 45 companies that were consistently included in the IDX ESGL index over five evaluation periods from 2019 to 2023. Data analysis was conducted using descriptive statistics and panel data regression, with the aid of Microsoft Excel, Python, and EViews 13. The findings of this study indicate that ESG has a positive and significant impact on financial performance, as proxied by Return on Assets (ROA) and Return on Equity (ROE), as well as on firm value, as measured by Tobin’s Q (TQ). However, digital transformation (DT) as a moderating variable does not strengthen the effect of ESG on financial performance or firm value. Based on the panel data regression results, the best-fitting model for the analysis without moderation (ESG only) is the Random Effect Model (REM) for Model 1 (ROA), Model 2 (ROE), and Model 3 (Tobin’s Q). Meanwhile, for models with DT as a moderator, the best-fitting models are the Fixed Effect Model (FEM) for Model 4 (ROA) and Model 6 (Tobin’s Q), and REM for Model 5 (ROE).

Pengaruh Diversifikasi Pendapatan Terhadap Profitabilitas dan Stabilitas Perbankan di Indonesia: The Impact of Income Diversification on Banking Profitability and Stability in Indonesia Kusumadewi, Tiara; Juwita Ermawati, Wita; Irawan, Tony
Jurnal Aplikasi Bisnis dan Manajemen Vol. 10 No. 1 (2024): JABM, Vol. 10 No. 1, Januari 2024
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.10.1.239

The global economic crisis that occurred during the COVID-19 pandemic causing credit contraction that negatively affected the banking industry. Previous studies have shown that diversifying the bank's income to non-interest sources able to rescue banks to overcome financial hardship in the crisis but very few studies have been conducted to measure the impact of crisis during COVID-19 pandemic on bank’s profitability and stability. This paper aims to investigates the dynamics and the impact of income diversification on banking profitability and stability in Indonesia uses statistic descriptive and panel data regression of 72 conventional banks grouped into business groups based on core capital during 2017-2021 period, along with bank-specific (cost to income, loan to deposit ratio, capital adequacy ratio, size) and macroeconomic (crisis dummy during COVID-19 pandemic) used as control variables. Based on statistic descriptive, BUKU 1 group's income diversification increased during the crisis but shown a low profitability and stability. BUKU 2 and BUKU 3 group’s stability increased during the crisis but income diversification and profitability decreased. BUKU 4 group has the finest income diversification approach for achieving great profitability and stability. Results of panel data regression show that income diversification have a positive impact on bank’s profitability and stability. Keywords: conventional bank, crisis during covid-19 pandemic, bank’s income diversification, bank’s profitability, bank’s stability

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