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All Journal Management Science Research Journal Jurnal Ekonomi Lembaga Layanan Pendidikan Tinggi Wilayah I
Hardiyanti, Siti Epa
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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TREND ANALYSIS OF FINANCIAL RATIOS FOR ASSESSMENT FINANCIAL STABILITY LONG-TERM ON PT AGUNG PODOMORO LAND TBK Hardiyanti, Siti Epa; Arthawati, Sri Ndaru
Management Science Research Journal Vol. 4 No. 2 (2025): May 2025
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56548/msr.v4i2.155

Abstract

This study aims to evaluate the long-term financial stability of PT Agung Podomoro Land Tbk by analyzing the trends in its financial ratios over the period 2018–2024. As a leading real estate developer in Indonesia, the company faces financial challenges that require consistent monitoring, especially considering macroeconomic fluctuations and sector-specific risks. The research employs trend analysis of key financial ratios, including liquidity, solvency, profitability, and efficiency indicators. The results show notable fluctuations influenced by the COVID-19 pandemic and post-pandemic recovery phases. The study concludes that while the company demonstrates signs of improvement in operational efficiency and profitability, concerns remain regarding solvency and capital structure. The findings provide valuable insights for management, investors, and financial analysts regarding the company’s long-term financial health.
Financial Statement Analysis to Assess Corporate Resilience in Facing Global Economic Crises Hardiyanti, Siti Epa
Management Science Research Journal Vol. 4 No. 1 (2025): February 2025
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56548/msr.v4i1.157

Abstract

This study explores the application of financial statement analysis to evaluate corporate resilience during global economic crises. The research focuses on identifying key financial indicators that influence a firm's ability to endure and recover from external economic shocks. Utilizing data from companies across five strategic sectors, the study develops a composite Resilience Index incorporating liquidity, solvency, profitability, and efficiency ratios. The findings reveal that firms with strong cash flows, low leverage, and high liquidity exhibit superior crisis performance and faster post-crisis recovery. The study contributes to the existing literature by proposing an integrated resilience assessment framework and provides practical insights for managers, investors, and policymakers in enhancing financial preparedness.
Adaptive Hedging Strategy on Market Volatility Hardiyanti, Siti Epa
Management Science Research Journal Vol. 4 No. 4 (2025): November 2025
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56548/msr.v4i4.176

Abstract

Market volatility poses significant challenges to investors and portfolio managers, particularly in periods of uncertainty where asset prices fluctuate sharply. Traditional static hedging strategies often fail to adapt effectively to dynamic market conditions, leading to suboptimal risk mitigation. This study proposes an Adaptive Hedging Strategy (AHS) that integrates real-time volatility estimation and machine learning–based signal processing to optimize hedge ratios dynamically. Using a dataset of equity index futures and options from 2015 to 2024, the research evaluates the performance of AHS against conventional delta and minimum-variance hedging approaches. Results indicate that the adaptive model significantly reduces portfolio variance and Value-at-Risk (VaR), particularly during high-volatility regimes such as the COVID-19 crash and post-2022 inflation shocks. The findings suggest that adaptive strategies can enhance hedging efficiency and provide a more resilient framework for risk management in volatile markets.
The Evaluation of Portfolio Performance: The Risk-Adjusted Performance of Sharia Equity Mutual Funds using Sharpe, Treynor, And Jensen’s Alpha based on Daily Data on period 2022 - 2025 Hardiyanti, Siti Epa
Management Science Research Journal Vol. 4 No. 3 (2025): August 2025
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56548/msr.v4i3.190

Abstract

This study evaluates the risk-adjusted performance of three Sharia equity mutual funds in Indonesia (Manulife Syariah Sektoral Amanah, Mandiri Investa Ekuitas Syariah, and Batavia Dana Saham Syariah) using daily data from 2022 to 2025. The analysis employs daily returns, excess returns, total volatility, market beta, and three major performance measures: the Sharpe Ratio, Treynor Ratio, and Jensen’s Alpha. Results show that all three funds consistently underperformed the Jakarta Islamic Index (JII), reflected in negative Sharpe and Treynor Ratios and negative, statistically insignificant Jensen’s Alpha values. These findings indicate that performance is predominantly driven by market movements rather than managerial skill. The study contributes empirical evidence on the behavior of Islamic mutual funds in volatile market periods and offers practical insights for investors seeking risk-adjusted performance evaluation in Islamic finance contexts.
Co-Authors Adler Haymans Manurung Arthawati, Sri Ndaru Dwi Winarno, Dwi Nemat, Masihullah Roy Sembel Thota, Abraham Wai Si, Hnin