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All Journal Jurnal Media Informasi Manajemen JURNAL AGRICA Jurnal Ekonomi Bisnis Manajemen Prima Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences International Journal of Educational Review, Law And Social Sciences (IJERLAS) Multidiciplinary Output Research for Actual and International Issue (Morfai Journal) International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Proceeding International Seminar of Islamic Studies International Journal of Social Science, Educational, Economics, Agriculture Research, and Technology (IJSET) Indonesian Journal of Business Analytics (IJBA) International Review of Practical Innovation, Technology and Green Energy (IRPITAGE) Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA) Southeast Asia Journal of Graduate of Islamic Business and Economics International Journal of Economics, Commerce, and Management
Isfenti Sadalia
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Religion Agriculture, Biological Sciences & Forestry Arts Humanities Astronomy Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Materials Science & Nanotechnology Mathematics Physics Social Sciences Other

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ANALISIS PERSONAL FINANCIAL LITERACY DAN FINANCIAL BEHAVIOR MAHASISWA STRATA I FAKULTAS EKONOMI UNIVERSITAS SUMATERA UTARA Darman Nababan; isfenti sadalia
Jurnal Media Informasi Manajemen Vol 1, No 1 (2013)
Publisher : Universitas Sumatera Utara

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (351.681 KB)

Abstract

Abstract This study aims to examined personal financial literacy and financial behavior; financial literacy based on the personal characteristics of students, and impact of the financial literacy on financial behavior of undergraduate students of Faculty of Economics, University of Sumatera Utara class rank 2008 through 2011 who still active by June 2011. Financial literacy was measured using 27 multiple-choice questions and a score calculated based on the percentage of the correct answers. Financial literacy and then analyzed based on the characteristics of the respondents consisting of gender, majors, class rank, GPA, and residence (living with parents or living alone / boarding), the level of parental education, and parental income. Financial literacy is also grouped into relatively high and relatively low based on the median to analyze the financial behavior of respondents in each group. The analitical method used is a descriptive statistical analysis. The data used are the primary data obtained from a survey of 97 respondents. The finding indicates that those who are male students, Economic Development major, student of 2008 and 2009, GPA ≥ 3.00, and student who live alone at boarding house,  has a higher financial literacy. Meanwhile, female students, Management majors, lower class rank, GPA <3.00, and live at home with parents have lower financial literacy. Overall mean of correct answer of the survey is about 56.61%, so it can be concluded that the respondents had low levels of financial literacy, in addition, the tendency of respondents practicing expected financial behavior  did not increase as expected consistently along with the increase of financial literacy.   Keywords: Personal Financial Literacy, Financial Behavior, College Student
THE ANALYSIS ON CANONICAL CORRELATION OF GLOBAL INDEX AND MACRO ECONOMY WITH INDONESIAN CAPITAL MARKET Afriza Amir; Isfenti Sadalia; Khaira Amalia Fachruddin
Jurnal Ekonomi Bisnis Manajemen Prima Vol. 1 No. 2 (2020): Jurnal Ekonomi Bisnis Manajemen Prima
Publisher : JEBIM Prima

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (615.808 KB) | DOI: 10.34012/jebim.v1i2.523

Abstract

Capital market is one of the media which gives the opportunity for individual and insttutional investors to invest. The Indonesia Stock Exchange and Indonesian capital market has 11 types of stock priced index which as continously spread through printed and electronic mass media, as one of the guidelines for investor to invest in capital market. The development of indonesian capital market (LQ45 Index and IHSG Index) is closely related to global index and macro economy. The objective of the reseach was to examine the canonical correlation of global index (Dow Jones Index and EIDO Index) and macro economy (Rupiah Exchange Rate and SBI interest rate) with indonesian capital market (LQ45 Index and IHSG Index). The sample were limited to the period of 2011-2013 (36 months).The data were analyzed by using canonical correlation at the significant level of 5%. The result of the research showed that global index (Dow Jones Index and E10) and macro economy (rupiah exchange rate and SBI interest rate) had significant correlation with indonesian capital market (LQ45 and IHSG), with canonical coefficients perfect weight for L045 (1.00) and almost perfect for JCI (0.98). This means that the Dow Jones. EIDO exchange rate, interest rate SBI has a significant positive relationship towards LQ45 Index and IHSG Index are listed on the Indonesia Stock Exchange in the period 2011 to 2013 Individually Dow Jones (0.67), EIDO (0.54) and Exchange Rate (0.37) has a positive relationship with the capital market indices Indonesia (L045 Index and IHSG Index), which means when the Dow Jones. EIDO, and Rupiah Exchange high, then LQ45 and IHSG will be high, or vice versa when the Dow Jones, EIDO, and Exchange Rate is low, then the Index will be lower LQ45 and IHSG. Instead SBI rate (-0.29) had a negative correlation with stock market indices Indonesia (LQ45 Index and IHSG Index), which means if the SBI interest rate is high, then LQ45 and IHSG will be low, or vice versa when the Indonesian interest rate is low, then LQ45 and IHSG will be high
Literature Review ESG and Sustainability Finance Dina Hastalona; Isfenti Sadalia
Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences Vol 4, No 3 (2021): Budapest International Research and Critics Institute August
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v4i3.2122

Abstract

Nowadays, the corporate performance is not only measured by financial ratio, the company’s contribution to environmental sustainability, the welfare of the surrounding community is currently part of the corporate’ performance. It can be said to be successful if it consider economic, environmental and social aspect. This literature review describes several studies related to socially responsible investment. The result show that the application of CSR or ESG practices has an effect on the sustainability of the company’s business, and many researchers measure it by firm value. There is also a contradiction between the influence of ESG on the sustainability of the corporate’s business, and it turns out that what affects it is the time frame. The application of CSR practices ESG disclosure have a positive effect on the long term business performance and not the short term’s corporate performance.
READINESS TO CHANGE AND INNOVATIVE BEHAVIOR AS A DRIVEN OF SUSTAINABLE INNOVATION IN THE RURAL BANK AND SHARIA RURAL BANK INDUSTRY Muhammad Ras Muis; Prihatin Lumbanraja; Isfenti Sadalia; Yeni Absah
Proceeding International Seminar of Islamic Studies INSIS 3 (February 2022)
Publisher : Proceeding International Seminar of Islamic Studies

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Abstract

The success of innovation in the rural bank and shariah rural bank industry lies in the quality of human resources. Employees' abilities related to readiness to change and innovative behavior affect team innovation. The rapidly changing times must be anticipated by the Management and Employees of rural bank and shariah rural bank with quality innovations. The concept of team innovation will provide views and guidance for employees to be able to improve the competitiveness and existence of rural bank and shariah rural bank, now and in the future.Keywords: readiness to change, innovative behavior, synergizing teamwork and team innovation.
a ANALYSIS OF CART PRODUCTION EFFICIENCY BAMBOO WOVEN IN BINJAI CITY: ANALYSIS OF TECHNICAL, ALLOCATIVE, ECONOMIC EFFICIENCY OF BAMBOO WOVEN BASKETS USING FRONTIER IN BINJAI CITY Yolanda, Triyana; Lindawati; Isfenti Sadalia
JURNAL AGRICA Vol. 17 No. 1 (2024): JURNAL AGRICA
Publisher : Universitas Medan Area

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Abstract

There are fewer bamboo craftsmen in Binjai City, due to difficulties in continuing their business, the reason being the lack of participation of young people in preserving the bamboo craft business which has been running for quite a long time. The price of raw materials is very high and sometimes fluctuates so that if the price of raw materials is high, plus production costs, the selling price will be very high. So this research aims to analyze technical, price and economic efficiency in the use of production factors in the bamboo woven craft business in Binjai City. This research was conducted using cross section primary data. Data were analyzed using a stochastic frontier production function analysis tool. The research results show that in terms of technical efficiency, all craftsmen are technically efficient because the efficiency index value is more than 0,7. The average value of respondents' technical efficiency is 0,87. This value shows the average achievement of technical efficiency in the woven bamboo basket craft business of 87,64%. This condition shows that on average it still has a chance of 12,36% to achieve maximum efficiency. However, in terms of allocative and economic efficiency, all respondents are not yet efficient because the efficiency index value has not reached more than or equal to 1. The average value of allocative efficiency only reaches 0,26 and 0,22 for economic efficiency, which means that each craftsman requires additional input.
COMPARISON ANALYSIS OF INDEX IDX30 OPTIMAL SHARE PORTFOLIO WITH INDONESIAN EQUITY FUND PORTFOLIO PERFORMANCE Yoko Mashonia Panjaitan; Nisrul Irawati; Isfenti Sadalia
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 1 (2023): July
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v1i5.69

Abstract

Based on the results of the study, the conclusions that can be drawn are as follows. The optimal portfolio calculation results on the Single Index Model method for stocks show that stocks with UNVR issuers are the only ones that are optimal. Whereas in Mutual Funds there is no optimal portfolio calculation results. The results of calculations using the Markowitz method for all stock issuers obtained a return value of 0.000634 with a risk of 0.036057, namely at alpha 0.9. Meanwhile, for all stock mutual fund issuers, a return value of 0.003195 was obtained with a risk of 0.033629, namely at alpha 0.9. Compared to calculations using the Single Index Model Method for all stocks, a return value of 0.0050 is obtained with a risk of 0.0218, while for Equity Mutual Fund issuers a return value of 0.0072 is obtained with a risk of 0.0194, in this case the calculation of the optimal portfolio in stocks and mutual funds using the Markowitz Method produces a smaller return and greater risk than the Single Index Model method. The Single Index Model method which produces stock return calculations is superior to the Markowitz method. This is obtained from the results of the return value obtained on the Single Index Model which is greater than the Markowitz model so that stock investment will be more profitable if using the Single Index Model method. The Single Index Model method is superior to the Markowitz method in calculating mutual fund returns. This is obtained from the results of the return value obtained in the Single Index Model which is greater than the Markowitz model so that mutual fund investment will be more profitable if using the Single Index Model method. The Single Index Model method is superior to the Markowitz method in calculating stock risk. This is obtained from the results of the stock risk value obtained in the Single Index Model which is smaller than the Markowitz model so that stock investment will be riskier if using the Markowitz method. The Single Index Model method is superior to the Markowitz method in calculating mutual fund risk. This is obtained from the results of the mutual fund risk values obtained in the Single Index Model which are smaller than the Markowitz model so that mutual fund investments will be riskier if using the Markowitz method.
ANALYSIS OF OPTIMAL STOCK PORTFOLIO INVESTMENT IN LQ45 INDEX USES THE MARKOWITZ MODEL AND SINGLE INDEX MODEL Fadlan Alkindi; Isfenti Sadalia; Iskandar Muda
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.96

Abstract

Based on the results of the optimal portfolio analysis of the Markowitz model and Single Index Model, it can be concluded as follows: Based on the optimal portfolio formation of the Markowitz Model, 4 shares form a portfolio return expectation of 0.0074, while the portfolio risk is 0.0428 and the proportion of funds formed is BBCA 50.81%, EXCL 9.83%, ICBP 30.59%, and KLBF 8.77%. Based on the formation of a single index model portfolio, 2 optimal portfolio formations were obtained with a portfolio return of 0.1486 and a risk of 0.0873, while the proportion of funds formed by ANTM was 10.5%, and BBCA was 89.5%.. Based on research results, it proves that the single index model can produce a profit of 14.86% with a risk level of 8.73% compared to the Risk-Free Asset Return Rate of 5.17%. Meanwhile, the Markowitz model can produce a portfolio return of 0.74% with a portfolio risk of 4.28%, which does not provide optimal profits because the expected return from the Markowitz model portfolio is lower than the Risk-Free Asset Return Rate.Lack of significant planning in investing by a company. This because in planning an investment project of course requires substantial funds, so if not budgeted and calculated properly, it can result in investment failure projects that can cause a company to experience large losses. This study discusses capital budgeting of a project in CV. ABC will buy a new machine. In the This study discussed how to calculate the initial investment, estimate the income that the company will get during the project, how long is the capital issued by the company for investment projects will be returned, and at most what is important is whether it is feasible or not is the investment project planning. Method used in capital budgeting calculations is the payback period, discounted payback period, Net Present Value (NPV), and Internal rate of Return (IRR). In the The results showed that CV ABC accepted the plan to purchase a corn drying machine by calculating the payback period for 5 years, the NPV and IRR are considered feasible.
FINANCIAL RATIO ANALYSIS IN PREDICTING FINANCIAL DISTRESS CONDITIONS BUMN COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE DURING THE COVID-19 PANDEMIC WITH USING THE ALTMAN Z-SCORE METHOD Aslam Rayuda; Nisrul Irawati; Isfenti Sadalia
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.110

Abstract

The research is that having sufficient working capital is very important for a company because with sufficient working capital it is possible for the company to operate as economically as possible and the company does not experience difficulties or face dangers that may arise due to a crisis or financial chaos. Companies with negative net working capital have a high probability of facing difficulties in paying off their short-term liabilities, because there are not enough current assets to cover these liabilities. A cumulative profitability measure that reflects a company's age as well as the company's earnings power. Profitable operations and debt reduction are characterized by companies retaining profits or reinvesting operating profits. Low retained earnings can indicate a bad business year or reduced company life. This ratio is an indicator that shows management efficiency in managing production, sales, administration and other activities. The lower the EBITTA ratio value indicates the lower productivity of assets in generating profits. The EBIT to total assets ratio shows the effectiveness of using all assets in generating company sales. The greater the value of this ratio, the more effective the management of all assets owned by the company. Earnings Before Interest and Tax to Total Assets (EBITTA) is one of the profitability ratios. This analysis is used to measure a company's ability to manage its resources effectively which can be seen from the results of its sales and investments. The EBITTA ratio measures whether a company's assets are used rationally to generate profits from its operating activities. If the resulting ratio is high, then the company's assets have been used rationally so that it can reduce the occurrence of Financial Distress. On the other hand, a low EBITTA ratio indicates that the company is likely to experience financial distress. The implication of this research is that this ratio is used to measure management's ability to use assets to generate sales and describe the turnover rate of all company assets. This ratio, which has a positive value, is a sign that the company has a good ability to use assets to generate sales and has a high level of asset turnover.
ANALYSIS MODEL AND FINANCIAL RISK MITIGATION STRATEGY IN DECISION MAKING FOR THE FEASIBILITY OF INVESTMENT IN THE DEVELOPMENT OF HYDROPELECTRIC POWER PLANT (PLTA) IN THE NORTH SUMATRA REGION Anindityo Aryo Saloko; Isfenti Sadalia; Nazaruddin
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 4 (2024): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i4.142

Abstract

The isuccess iof iimplementing ia iconstruction iproject ican ibe iseen ifrom ithe iaccuracy iin imaintaining itriple iconstraints i(cost, iquality iand itime). iProject irisk ianalysis ifor ilong-term iinvestment iand isuccessful iproject idevelopment iplanning iis ivery iimportant, imodel ianalysis iis ineeded ito imitigate irisk idue ito ithe icomplexity iof ithe iproblems ifaced iin ithe idevelopment iof ipower iprojects, iespecially ipower iplants iin iNorth iSumatra iProvince iwith ithe idevelopment iof ihydroelectric ipower iprojects i(PLTA). iThere iare irisk ievents ithat icould ihamper ithe ismooth idevelopment iof ithe i45 iMW ihydropower iplant iconstruction iproject iin ithe iNorth iSumatra iregion iwith ian iemphasis ion iinvestment ifinancial irisks. iThe ifollowing iare irisk ievents ithat iwere iidentified iand ithen iafter imeasurement iand ianalysis, irisk ipriorities iwere iobtained ithat imust ibe imanaged ifirst, iincluding: iproject ifinancing igovernance, icash iflow imanagement, idetailed icontract ispecifications, iand idifficulties iin ifulfilling imaterials. iThese irisk ievents iare imanaged iby iinterpreting ithem iin ithe imanagement iof irisk imitigation iagainst ifinancial ilosses iin ithe iimplementation iof ithe iconstruction iof ia i45 iMW ihydroelectric ipower iplant iin ithe iNorth iSumatra iregion. iThe iresults iof ithe irisk imitigation ianalysis ishowed ithat iProject iFinancing iManagement iwas ithe ifirst irisk ipriority, ithen iProject iCash iFlow iManagement iwas ithe isecond ipriority, iDetailed iContract iSpecifications iwere ithe ithird ipriority, iand iDifficulty iFulfilling iMaterials iwas ithe ifourth ipriority. iImplementation iof iresearch ifindings, inamely iprioritization iof irisk ireduction, irequires iidentifying icritical iprocesses iand iimmediately iadopting iapproaches ito iprovide ialternative icontrols ifor iidentified icritical iprocesses. iFor iexample, iif ithe itotal icost iapproach iis ia icritical iprocess, ithen iprocurement iof ihydroelectric iplant imaterials iis iconsidered ia icritical iprocess. iAn iexploratory iapproach ican ibe iused ito imanage icritical iprocesses, inamely iby imaking icontracts iwith imaterial isuppliers iso ithat imaterials iare iordered iin iadvance i(with ior iwithout ia idown ipayment) ito iarrive iaccording ito ithe iproject ischedule. iFor iother icritical iprocesses iidentified iusing iother iapproaches, iyou ican iuse ithe iresults iof irisk imitigation iprioritization ibased ion irisk ievents. iThe iapplication iof ithis imitigation ican ibe icarried iout iflexibly iaccording ito ifurther iidentification iobtained.
OPTIMAL ANALYSIS OF THE LQ-45 STOCK PORTFOLIO ON THE INDONESIAN STOCK EXCHANGE USING THE DISCOUNTED DIVIDEND METHOD MODEL AND PRICE BOOK VALUE (YEAR 2018-2020) Hanna Widya Queentana; Isfenti Sadalia; Rulianda Wibowo
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 4 (2024): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i4.147

Abstract

The aim of this research is to analyze stock prices that are undervalued (cheap) and overvalued (expensive) from the intrinsic value obtained when compared with the prices formed on the stock market, to analyze the optimal portfolio of shares resulting from the formation of LQ-45 shares, to analyze the large proportion of funds in each each stock that forms an optimal portfolio of LQ-45 shares, analyzing the expected level of return from the risk of the portfolio formed of LQ-45 shares. The results of the analysis show that there are 20 (twenty) sample companies that are undervalued and to analyze the stock portfolio using the Single Index Model approach, which can form an optimal portfolio, namely ICBP (Indofood CBP Sukses Makmur Tbk.) shares of 0.7739 (77.39). %), BBRI (Bank Rakyat Indonesia (Persero)) Tbk., amounting to 0.2154 (21.54%) and SMGR (Semen Indonesia (Persero) Tbk) amounting to 0.0107 (1.07%). The results of this research show that there is investor rationality in selecting shares and forming an optimal portfolio using a single index model on the Indonesia Stock Exchange for LQ45 shares for the period February 2018 - January 2020.
Co-Authors ABDUL RAUF Ahmad Fuady Hasibuan Amir, Afriza Amlys Syahputra Silalahi Angella Tiosanna Anindityo Aryo Saloko Arsyadanal Haq Imanda Aslam Rayuda Chairul Muluk Darman Nababan Denny Irawan Dina Hastalona Eka Yulinda Prasetyowati Fadlan Alkindi Fahri Putra Hafira Fran’s Gidion Sinuhaji Hanna Widya Queentana Iskandar Muda Ismi Izzati Jane Melita Keliat Jepri Wandes Nababan Jona Sitepu Keulana Erwin Khaira Amalia Fachruddin Khaira Amalia Fachrudin LINDAWATI Mahatir Muhammad Marta KN Pasaribu Muhammad Iqbal Harahap Muhammad Ras Muis Muhammad Rizky Nasution Mutiah Nasution Nababan, Boy Chandra Nana Gustiana Nazaruddin Nisrul Irawati Nurlisa Borliani Siregar Nurul Adelia Prasetya, Muhammad Dimas Prihatin Lumbanraja Rahmad Zulhiansyah Simatupang Rulianda Wibowo Sukaria Sinulingga Syahyunan Tika Denisa Simanjuntak Tri Pamungkas, Ferdy Untung Tri Uripto Yasmin Chairunnisa Muchtar yeni absah Yeni Absah Yoko Mashonia Panjaitan Yolanda, Triyana