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All Journal ETIKONOMI Kinerja JEJAK SELAPARANG: Jurnal Pengabdian Masyarakat Berkemajuan Jurnal Ekonomi dan Manajemen Cita Ekonomika: Jurnal Ilmu Ekonomi Prima Abdika: Jurnal Pengabdian Masyarakat Jurnal Inovasi Penelitian dan Pengabdian Masyarakat Jurnal Manajemen Maranatha
Kusumahadi, Teresia Angelia
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Determination of Sustainable Financial Index: BUKU 4 Period 2016 – 2019 Kusumahadi, Teresia Angelia; Pratikto, Adji; Ruli, Ansgarius Davin
KINERJA Vol 25, No 1 (2021): KINERJA
Publisher : Faculty of Economics Universitas Atma Jaya Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24002/kinerja.v25i1.4358

Abstract

Sustainable finance is one of the instruments that can be used to achieve sustainable development goals. Practices of sustainable finance are regulated in the Financial Services Authority Regulation No. 51 / POJK.03 / 2017 (“POJK 51”), where one of the requirements in its implementation is to publish a Sustainability Report annually. However, before being obliged to release a Sustainability Report, banks, particularly BUKU 4, had published the report. Seeing that the Sustainability Report has been prepared before reporting requirements, these banks are running a sustainable business. To measure the level of sustainability of a bank, we build a Sustainable Financial Index. The Sustainable Financial Index is compiled based on 42 indicators built on sustainable finance’s eight principles. Using Bank Mandiri, BCA, BNI, BRI, and Bank CIMB as the observed bank, the results show that the Sustainable Financial Index for each bank has increased from year to year. The increment indicates that the practice of sustainable finance is running well in BUKU 4. Besides, each bank has different characteristics; thus, the principles that stand out in implementing sustainable finance differ from one bank to another. However, the index has several limitations, so that further index development is required.Keywords: BUKU 4, Sustainable Financial Index, POJK 51, Sustainability Report
Why Does Indonesia Have a High Covid-19 Case-Fatality Rate? Karnadi, Erwin Bramana; Kusumahadi, Teresia Angelia
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 2 (2021): September 2021
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v14i2.29580

Abstract

The COVID-19 pandemic has taken the world by storm, but the magnitude of its impact differs from country to country. As of August 2020, Indonesia’s COVID-19 case-fatality rate is higher than the world average. The aim of our research is to find out why Indonesia has a high COVID-19 case-fatality rate. Using OLS regression models, we found the number of COVID-19 related deaths, the number of COVID-19 tests performed, population age, population, voice and accountability index, and control of corruption index are significant predictors of a country’s COVID-19 case-fatality rate. Based on our results, we conclude that Indonesia’s COVID-19 case-fatality rate is higher than it is supposed to be, mainly because of a lack of COVID-19 testing and accurate public information.
Why Does Indonesia Have a High Covid-19 Case-Fatality Rate? Karnadi, Erwin Bramana; Kusumahadi, Teresia Angelia
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 2 (2021): September 2021
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v14i2.29580

Abstract

The COVID-19 pandemic has taken the world by storm, but the magnitude of its impact differs from country to country. As of August 2020, Indonesia’s COVID-19 case-fatality rate is higher than the world average. The aim of our research is to find out why Indonesia has a high COVID-19 case-fatality rate. Using OLS regression models, we found the number of COVID-19 related deaths, the number of COVID-19 tests performed, population age, population, voice and accountability index, and control of corruption index are significant predictors of a country’s COVID-19 case-fatality rate. Based on our results, we conclude that Indonesia’s COVID-19 case-fatality rate is higher than it is supposed to be, mainly because of a lack of COVID-19 testing and accurate public information.
ANALYZING FINANCIAL PERFORMANCE: HOW FINANCIAL RATIOS INFLUENCE THE STOCK PRICE OF PT BANK CENTRAL ASIA Angellita Pereira, Patricia; Kusumahadi, Teresia Angelia
Jurnal Ekonomi dan Manajemen Vol 17 No 2 (2024): Jurnal Ekonomi dan Manajemen
Publisher : Universitas Muhammadiyah Kalimantan Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to investigate the impact of financial performance indicators and the COVID-19 pandemic on the stock price of PT Bank Central Asia Tbk. Utilizing a quantitative approach, the research analyzes data from 2016 to 2023, focusing on key financial indicators such as capital adequacy ratio, net interest margin, non-performing loans, and loan-to-deposit ratio. The analysis employs statistical tests to determine the relationships between these financial indicators and the bank’s stock price. The findings reveal that the capital adequacy ratio and loan-to-deposit ratio positively influence the stock price in the long term, while net interest margin and non-performing loans do not show a significant effect. Additionally, the COVID-19 pandemic did not lead to substantial fluctuations in stock price, suggesting that the bank's strong financial fundamentals provided resilience during the crisis. These results underscore the importance of maintaining robust capital reserves and effective liquidity management to enhance investor confidence and ensure sustainable growth in the banking sector. The study offers valuable insights for investors and policymakers, highlighting the need for prudent financial practices in navigating economic uncertainties.
Interconnectedness and Systemic Risk: Insights from Indonesian Financial Conglomerates Kusumahadi, Teresia Angelia; Saadah, Siti; Permana, Fikri C
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.38452

Abstract

Research Originality: This research addresses the gap in existing studies by examining the time-varying volatility spillover index among conglomerates in listed financial companies in Indonesia, an unexplored area.Research Objectives: The study investigates the potential interconnectedness among financial institutions, one source of systemic risk, by analyzing volatility spillovers within conglomerates.Research Methods: Using a generalized VAR approach, we examined total volatility spillover, directional volatility spillover, and total volatility spillover indices for 14 companies from four conglomerates, utilizing daily data from 2010 to March 2023.Empirical Results: The results reveal significant interconnectedness within these conglomerates, indicating potential for systemic risk that could threaten the financial system's stability. Another noteworthy finding is that the volatility transmission within banking conglomerates predominantly originates from subsidiary companies to parent companies.Implications: Regulators need to supervise spillovers at both the parent and subsidiary levels by developing regulations that address both levels to ensure effective risk management.JEL Classification: C58, G21How to Cite:Kusumahadi, T. A., Saadah, S., Permana, F. C. (2025). Interconnectedness and Systemic Risk: Insights from Indonesian Financial Conglomerates. Etikonomi, 24(1), 53 – 68. https://doi.org/10.15408/etk.v24i1.38452.
Analisis Suku Bunga Pasar Uang Antar Bank pada Variabel Makroekonomi di Indonesia Prawesti, Regina Wintang; Kusumahadi, Teresia Angelia
Jurnal Cita Ekonomika Vol 19 No 1 (2025): Cita Ekonomika: Jurnal Ilmu Ekonomi
Publisher : Jurusan Ekonomi Pembangunan, FEB Universitas Pattimura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51125/citaekonomika.v19i1.15070

Abstract

This study examines the impact of the Interbank Money Market Rate (PUAB) on macroeconomic variables in Indonesia, specifically the exchange rate, real output, and inflation, from 2005 to 2022. Using the Vector Error Correction Model (VECM) method, this research finds that the PUAB rate significantly impacts all three variables. The estimation results indicate that the PUAB rate has a significantly positive effect on the exchange rate in both the short and long term, where an increase in the PUAB rate leads to currency depreciation. Additionally, the PUAB rate negatively impacts real output and inflation, which is consistent with the monetary policy objective of maintaining price stability. These findings confirm the PUAB rate's effectiveness as a monetary policy instrument in achieving final targets, although the time required to reach the desired outcomes may vary.
Pentingnya Literasi Keuangan di Pedesaan: Studi Pada Desa Tegalsari, Kabupaten Magelang, Jawa Tengah Kusumahadi, Teresia Angelia; Utami, Novia
Jurnal Inovasi Penelitian dan Pengabdian Masyarakat Vol. 4 No. 2 (2024): Desember
Publisher : Indonesia Emerging Literacy Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53621/jippmas.v4i2.371

Abstract

Pengabdian ini bertujuan untuk meningkatkan pemahaman masyarakat mengenai pentingnya literasi keuangan di Desa Tegalsari, Kecamatan Candimulyo, Kabupaten Magelang, Jawa Tengah. Pengabdian melibatkan 30 peserta yang mengikuti penyuluhan secara tatap muka mengenai literasi keuangan pada tanggal 29 Oktober 2023. Survei pre-test dan post-test digunakan untuk mengukur perubahan tingkat pemahaman peserta. Hasil pengabdian menunjukkan bahwa sebelum penyuluhan, hanya 3% responden yang memahami konsep literasi keuangan secara menyeluruh. Setelah penyuluhan, pemahaman rata-rata mengenai pentingnya literasi keuangan meningkat sebesar 10%. Selain itu, ditemukan bahwa akses terhadap layanan keuangan di Desa Tegalsari masih terbatas. Temuan ini menunjukkan bahwa edukasi yang tepat dapat meningkatkan pemahaman masyarakat pedesaan akan pentingnya literasi keuangan. Selain itu, temuan ini menegaskan pentingnya kolaborasi antara pemerintah, lembaga keuangan, dan organisasi non-pemerintah untuk mengatasi kesenjangan pengetahuan dan memperluas akses layanan keuangan di pedesaan.
Peningkatan Literasi Keuangan dan Teknologi Keuangan Terhadap Masyarakat Pedesaan Utami, Novia; Kusumahadi, Teresia Angelia
Prima Abdika: Jurnal Pengabdian Masyarakat Vol. 4 No. 3 (2024): Volume 4 Nomor 3 Tahun 2024
Publisher : Program Studi Pendidikan Guru Sekolah Dasar Universitas Flores Ende

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37478/abdika.v4i3.4536

Abstract

Kelor Village in Gunungkidul Regency, Yogyakarta, is an agrarian village where the majority of the population works as farmers. However, the low level of education in this village has led to very limited financial literacy among the community. This issue is crucial because many villagers struggle to manage their income from agriculture, making it difficult for them to budget, save, or invest wisely. As a result, the economic well-being of the community has not significantly improved. Additionally, limited access to formal financial institutions forces many residents to keep their money at home, which poses a risk. To address this problem, enhancing financial literacy and promoting the use of financial technology (fintech) are necessary. This training aims to provide better understanding of financial literacy and encourage the use of fintech among the people of Kelor Village. Although some community members already have a basic understanding of financial literacy, many do not regularly record their finances and lack a full grasp of the concepts and benefits of fintech. The educational program implemented has successfully improved the community’s understanding; however, the implementation in daily life still needs reinforcement. The results of this program show that those who received education are better at managing their finances and more open to using financial technology. Therefore, it is recommended to expand the educational program with more easily understood and relevant materials, as well as providing practical training to encourage the use of financial technology. Additionally, improving access to formal financial services and empowering community groups are crucial to ensuring the sustainability of the program. Through this approach, the people of Kelor Village are expected to be better prepared to face economic uncertainties and improve their financial well-being.
Teknologi Finansial, Literasi Keuangan, dan Keputusan Investasi Produk Reksa Dana di Indonesia Kusumahadi, Teresia Angelia; Utami, Novia
Jurnal Manajemen Maranatha Vol 21 No 2 (2022): Jurnal Manajemen Maranatha
Publisher : Universitas Kristen Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jmm.v21i2.4631

Abstract

The study aims to examine the characteristics of mutual fund financial technology users, the relationship between the use of investment financial technology and financial literacy on investment decisions, and differences in financial literacy between investors who use financial technology and investors who do not. Using a sample of 219 respondents who had or currently have mutual fund investment products in Indonesia, the authors find that most respondents have used financial technology, with Bibit and Bareksa as the most frequently used platforms. Using the OLS method, financial literacy positively and significantly affects investment decisions. On the other hand, the use of financial technology does not impact investment decisions. In addition, investors who use financial technology services have lower financial literacy scores than investors who do not use financial technology. This finding emphasizes the need for more equitable education of financial technology and financial literacy, which is expected to increase financial inclusion.
Edukasi literasi keuangan, pengenalan investasi, dan teknologi finansial pada generasi muda Kusumahadi, Teresia Angelia; Utami, Novia; Sitanggang, Marsiana Luciana
SELAPARANG: Jurnal Pengabdian Masyarakat Berkemajuan Vol 8, No 2 (2024): June
Publisher : Universitas Muhammadiyah Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31764/jpmb.v8i2.23395

Abstract

AbstrakPengabdian ini bertujuan untuk meningkatkan literasi keuangan, memperkenalkan konsep investasi, serta memperkenalkan teknologi finansial bagi generasi muda. Pengabdian dilaksanakan melalui kegiatan edukasi yang diselenggarakan di SMA Kristen Calvin Jakarta pada tanggal 31 Juli 2023 dengan peserta siswa-siswi dari kelas XII IPS 1 dan XII IPS 2. Kegiatan ini bertujuan untuk meningkatkan pemahaman siswa dan siswi tentang konsep dasar keuangan, mulai dari pengelolaan uang pribadi, pentingnya menyisihkan tabungan, hingga memahami berbagai instrumen investasi yang tersedia serta risiko yang timbul pada investasi tersebut. Selain itu, pengabdian ini juga memperkenalkan teknologi finansial sebagai alat yang dapat mempermudah akses terhadap layanan keuangan sehingga transaksi atau investasi yang dilakukan lebih efektif dan efisien. Evaluasi terhadap efektivitas pengabdian dilakukan melalui survei yang dibagikan sebelum dan sesudah kegiatan. Hasil survei menunjukkan bahwa peserta telah memiliki literasi keuangan yang baik, dan literasi keuangan tersebut semakin meningkat setelah diadakan edukasi. Peserta juga telah mengenal produk-produk keuangan, pentingnya literasi keuangan, pentingnya teknologi finansial, serta pentingnya pengetahuan mengelola keuangan, juga pentingnya pengelolaan risiko dalam berinvestasi. Namun demikian, belum banyaknya produk keuangan yang dimiliki oleh responden menjadi catatan penting dari pengabdian ini, bahwa inklusi keuangan pada generasi muda masih perlu ditingkatkan. Kata kunci: investasi; literasi keuangan; pengelolaan keuangan; teknologi finansial AbstractThis community service aims to elevate financial literacy, introduce investment concepts, and familiarize the younger generation with financial technology. The initiative was conducted through educational activities held at Calvin Christian Senior High School in Jakarta on July 31, 2023, involving students from the XII IPS 1 and XII IPS 2 classes. The primary objective of these activities was to enhance the student's comprehension of fundamental financial concepts, encompassing personal financial management, the significance of savings allocation, and an understanding of various available investment instruments and associated risks. Moreover, this initiative introduced financial technology as a facilitative tool for accessing financial services, enhancing the effectiveness and efficiency of transactions or investments. We assessed the efficacy of this initiative through pre- and post-event surveys. The survey results indicated that participants possessed a commendable level of financial literacy, which further improved following the educational intervention. Participants demonstrated familiarity with financial products, the importance of financial literacy, the role of financial technology, the significance of financial management, and the necessity of risk management in investment. However, the notable observation from this initiative was the limited ownership of financial products among respondents, emphasizing the ongoing need to enhance financial inclusivity among the younger generation.Keywords: investment; financial literacy; financial management; financial technology
Co-Authors Adji Pratikto Angellita Pereira, Patricia Karnadi*(1), Erwin Bramana Permana, Fikri C Prawesti, Regina Wintang Ruli, Ansgarius Davin Sitanggang, Marsiana Luciana Siti Saadah Utami, Novia