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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.
Edukasi Literasi Keuangan, Investasi, Financial Technology, dan Pengelolaan Keuangan Pribadi Utami, Novia; Kusumahadi, Teresia Angelia
Jurnal ABDINUS : Jurnal Pengabdian Nusantara Vol 8 No 2 (2024): Volume 8 Nomor 2 Tahun 2024
Publisher : Universitas Nusantara PGRI Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29407/ja.v8i2.22254

Abstract

In the current digital era, financial literacy is crucial to support wise financial management and prevent the risk of fraud, especially among the younger generation. This article discusses the need for financial literacy, especially among high school students, to help them manage personal finances, understand investments, and become familiar with financial technology (fintech). Cases of fraud, such as several students caught in online loans, emphasize the importance of understanding financial literacy in financial decisions. From the evaluation results of the financial literacy workshop conducted at SoliDEO Christian High School, this activity positively impacted students' understanding of investment, financial literacy, and financial technology. A significant increase in students' interest scores regarding these various aspects was seen through surveys before and after the workshop. The highest increase occurred in understanding investment instruments, followed by the urgency of recognizing red flags when investing, financial literacy, use of financial technology, and investing in general. Even though there has been an increase, the importance scores for understanding and measuring investment profits and risks, managing personal finances, and making a priority scale for spending funds tend to be stable.
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.