Claim Missing Document
Check
Articles

Found 40 Documents
Search

The Value Relevance of Non-Financial Information to Firm Profitability: an Empirical Study on the Hypercompetitive Industry Usman, Berto; Afandy, Chairil; Kamaludin, Kamaludin
JDM (Jurnal Dinamika Manajemen) Vol 13, No 2 (2022): September 2022
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v13i2.34473

Abstract

The purpose of this study is to examine the relationship between non-financial information and firm profitability. The data and samples were extracted from publicly listed companies (PLCs) operating in the U.S. hypercompetitive industry. The U.S. (NYSE) setting of the study was chosen due to the efficiency of its capital market. The efficiency of the NYSE can be identified from the rapid adjustment of stock price movement as a consequence of incoming new information. By employing panel data regression analysis of 83 companies spanning from 2011 to 2016 (498 firm-year observations), this study tests the relevance of firms’ non-financial on firm profitability. The findings suggest that non-financial information has shown a positive and relevant association with firm profitability. Thus, the presence of CSR reports (CSR_Rep), and high CSR performance scores (CSR_Perf) as the proxies of non-financial information is positively associated with firms’ profitability (ROA and ROE). In this regard, the company might explore the benefit of gaining a positive reputation and better business legitimacy from society as well as their stakeholders.
Sustainable Finance: A Bibliometric Analysis of Green Finance and its Role in Global Markets Judijanto, Loso; Qosim, Nanang; Syamsulbahri, Syamsulbahri; Utami, Eva Yuniarti; Afandy, Chairil
West Science Business and Management Vol. 2 No. 04 (2024): West Science Business and Management
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsbm.v2i04.1500

Abstract

This study conducts a comprehensive bibliometric analysis to map the evolution and scope of sustainable finance research from 2000 to 2024. Utilizing data sourced from Scopus, the analysis identifies major trends, themes, and contributions within the field, emphasizing the increasing integration of sustainability into financial practices. Key findings reveal a dramatic rise in publications over recent years, underscoring the growing academic and practical interest in sustainable finance. The research network analysis highlights significant global collaboration and the central role of technological innovations like fintech and artificial intelligence in advancing sustainable financial practices. The study also explores regional dynamics, showing robust contributions from both developed and emerging economies. Overall, this analysis provides crucial insights into how sustainable finance can be strategically advanced to meet global sustainability goals, offering directions for policy, practice, and future research.
From Fintech to Competitiveness: Financial Sustainability Performance of MSMEs in the Digital Era Pitaloka, Diah Ayu; Afandy, Chairil
Management Analysis Journal Vol. 14 No. 2 (2025): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v14i2.27535

Abstract

The main objective of this study is to analyze the role of competitiveness as a mediator in the relationship between financial technology (fintech) adoption and financial sustainability performance in Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. Fintech provides easy access to digital financial services that positively impact productivity and transaction efficiency in MSMEs. This study uses the Practice-Based View (PBV) approach to understand how MSMEs can adopt fintech to improve their competitiveness and financial sustainability performance. Data was collected from 190 respondents who have adopted fintech using purposive sampling and snowball sampling techniques. This research uses the Partial Least Squares - Structural Equation Modeling (PLS-SEM) method through SmartPLS 4.0. The results showed that fintech significantly affects competitiveness and financial sustainability performance in MSMEs, and competitiveness substantially mediates the relationship between the two. This study confirms that using fintech as a strategic practice can strengthen competitiveness and thus encourage financial sustainability performance in the long term.
MODERASI GREEN FINANCE PADA PENGARUH DIVIDEND POLICY TERHADAP FIRM VALUE: BUKTI EMPIRIS DI INDONESIA Afandy, Chairil
Jurnal Review Pendidikan dan Pengajaran Vol. 7 No. 4 (2024): Vol. 7 No. 4 Tahun 2024
Publisher : LPPM Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/jrpp.v7i4.34598

Abstract

Penelitian ini bertujuan untuk mengeksplorasi peran moderasi Green Finance dalam hubungan antara kebijakan dividen dan nilai perusahaan di Indonesia. Dengan menggunakan metode studi literatur, penelitian ini mengidentifikasi bagaimana prinsip Green Finance dapat mempengaruhi dan memperkuat hubungan antara kebijakan dividen dan nilai perusahaan. Analisis literatur menunjukkan bahwa kebijakan dividen yang didukung oleh prinsip Green Finance cenderung menghasilkan dampak yang lebih positif terhadap nilai perusahaan. Perusahaan yang menerapkan Green Finance dalam strategi kebijakan dividen mereka tidak hanya mendapatkan kepercayaan lebih dari investor tetapi juga meningkatkan reputasi dan stabilitas finansial mereka. Temuan ini mengisi celah dalam literatur yang ada dan memberikan wawasan baru tentang integrasi keberlanjutan dalam keputusan keuangan perusahaan. Penelitian ini menyarankan bahwa perusahaan di Indonesia harus mempertimbangkan penerapan prinsip Green Finance dalam kebijakan dividen mereka untuk meningkatkan daya tarik pasar dan nilai perusahaan secara keseluruhan. Implikasi dari penelitian ini juga memberikan rekomendasi bagi pembuat kebijakan untuk mendorong praktik Green Finance melalui insentif dan regulasi yang mendukung.
Pelatihan Branding Dan Promosi Melalui Social Commerce Tiktok Terhadap Produk Olahan Hasil Tangkapan Kelompok Nelayan Kota Bengkulu Chairil Afandy; Agus Deprian; Febzi Fiona; Rina Suthia hayu; Serly Apriansah; Novita Andriyani
Prosiding Seminar Nasional Pengabdian Masyarakat Vol. 1 (2023): Prosiding Seminar Nasional Pengabdian Masyarakat
Publisher : CV. Dharma Samakta Edukhatulistiwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61142/psnpm.v1.73

Abstract

Kegiatan usaha masyarakat baik besar maupun kecil sangat terbantu dengan penggunaan teknologi informasi yang berkembang pesat. Menggunakan social commerce sebagai alat penjualan akan meningkatkan penjualan produk nelayan. Pengabdian masyarakat ini bertujuan agar kelompok nelayan di wilayah Marabello Bengkulu dapat: 1) Meningkatkan pengetahuan tentang pengembangan produk olahan berbasis produksi. 2) Produksi produk yang kompetitif dan pemasaran yang modern. 3) Memahami penandaan dan pendaftaran PIRT (barang rumah tangga). 4) Memahami pengemasan yang higienis dan memahami proses pengemasan. 5) Asosiasi perikanan dapat memulai bisnis profesional sehingga mereka dapat bersaing di pasar global. Pelatihan ini disampaikan dengan menggunakan metodologi penelitian, tukar pikiran, dan prosedur memberi dan menerima. Sebagai hasil dari pelatihan ini, organisasi perikanan telah memahami pentingnya memproduksi produk perikanan dengan kemasan dan branding yang menarik. Selain itu, kelompok nelayan mengetahui cara menggunakan jejaring sosial untuk tujuan promosi dan menerapkan aplikasi pendukung pemasaran lainnya.
Analisis Pengaruh Inflasi Dan Risiko Sistemik Terhadap Stabilitas Keuangan Perbankan Di Indonesia Melalui Suku Bunga Sebagai Variabel Mediasi Ismail, Kaifa; Afandy, Chairil; Nurazi, Ridwan
Jambura Economic Education Journal Vol 8, No 2 (2026): APRIL 2026
Publisher : Gorontalo State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37479/jeej.v8i2.35592

Abstract

Maintaining the stability of the banking industry's finances is a critical component of ensuring the resilience of the financial system and promoting long-term economic expansion. Through interest rates as a mediating factor, this research seeks to examine the effects of inflation and systemic risk on the financial stability of Indonesian banking. The research employs a quantitative methodology using secondary data gathered from the Financial Services Authority, Bank Indonesia, and the Indonesia Stock Exchange between 2020 and 2024. Purposive sampling was used to choose the 20 banking firms that made up the study sample. Multiple linear regression and the Sobel test for mediation were the analytical methods used. The findings indicate that systemic risk has a considerable impact on financial stability, but inflation does not. Interest rates are also impacted by inflation and systemic risk, which in turn have a big impact on financial stability. The findings of this research offer implications for banking and monetary regulators as they create systemic risk management policies aimed at preserving the financial stability of Indonesia's banking industry.
BUY NOW PAY LATER USAGE AMONG GENERATION Z IN INDONESIA: AN INTEGRATION OF THEORY OF PLANNED BEHAVIOR AND MATERIAL VALUES THEORY Rahmadina Oktariani; Dewi Rahmayanti; Chairil Afandy
Jurnal Interprof Vol 12 No 1 (2026): Jurnal Interprof, April
Publisher : LPPM UNIVERSITAS BINA INSAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32767/interprof.v12i1.3169

Abstract

Purpose: This study aims to examine the influence of attitude toward behavior, subjective norms, perceived behavioral control, and materialism on intention to use and actual usage behavior of Buy Now Pay Later (BNPL) services among Generation Z in Indonesia, with intention as a mediating variable. Research Methodology: This study adopts a quantitative approach with an explanatory survey design. Data were collected from 255 Generation Z respondents aged 18–29 years who had used BNPL services, using purposive sampling and a structured questionnaire. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM) via SmartPLS 4.0, with bootstrapping of 5,000 subsamples. Results: Attitude, subjective norms, and perceived behavioral control positively and significantly influence both intention and BNPL usage behavior. Unexpectedly, materialism shows a significant negative effect on BNPL usage behavior, contrary to the hypothesized direction. Intention mediates the relationships of attitude and subjective norms toward BNPL usage behavior, but does not mediate the relationship of perceived behavioral control. Conclusions: This study extends TPB by demonstrating that its core constructs remain robust predictors of BNPL adoption even when materialism is introduced as a competing predictor, and by showing that materialism operates through a distinct, non-TPB mechanism that warrants further theoretical attention rather than being assumed to reinforce TPB pathways. Limitations: This study is limited to Generation Z users and relies solely on a cross-sectional design with self-reported questionnaire data, which precludes causal inference. Other factors such as financial literacy, trust, and habits were not included. Contributions: This study contributes empirical evidence on BNPL usage behavior among Generation Z in Indonesia, extending the TPB framework by integrating materialism as an additional predictor and examining mediation through intention, thereby offering novel evidence that materialism can act as a deterrent rather than a driver of debt-based payment usage.     
The Influence of Existential Authenticity and Experience Quality on Visitor Loyalty with Trust Moderation in Indonesian Music Festivals Ayuba Danelyza Mardhatillah; Effed Darta Hadi; Lizar Alfansi; Chairil Afandy
Jurnal Ilmiah Manajemen Kesatuan Vol. 14 No. 4 (2026): JIMKES Edisi Juli 2026
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v14i4.5397

Abstract

Music festivals have become increasingly important in experience-based tourism activities. This study examines the influence of existential authenticity and experience quality on visitor loyalty in Indonesian music festivals, with experience quality serving as a mediating variable and trust acting as a moderating variable. Data from 282 respondents who have attended Indonesian music festivals were analyzed quantitatively using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The results show that both experience quality and loyalty are positively and significantly impacted by existential authenticity. Furthermore, the association between existential authenticity and loyalty is partially mediated by experience quality, which also has a major impact on loyalty. The findings also show that the relationship between experience quality and loyalty is considerably strengthened by trust. These findings indicate that emotionally authentic experiences, immersive festival environments, and trustworthy event management play important roles in encouraging revisit intention and positive word-of-mouth behavior among festival visitors. This study extends the application of the Stimulus–Organism–Response (S-O-R) framework within the context of music festivals and provides practical implications for festival organizers in developing emotionally engaging and sustainable festival experiences that strengthen long-term visitor loyalty.
Seberapa Besar Sustainability Report dan Debt to Asset Ratio Mempengaruhi Risiko Financial Distress? Peran Ukuran Perusahaan Sebagai Moderasi Muhammad Rizki Rahmansyah; Chairil Afandy
Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management and Banking) Vol. 11 No. 3 (2025): Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management and
Publisher : STIE Indonesia Banking School

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35384/jemp.v11i3.870

Abstract

This study aims to evaluate the impact of sustainability reports and the debt-to-asset ratio (DAR) on the risk of financial distress in energy sector companies in Indonesia. Firm size is used as a moderating variable, while gross domestic product (GDP) and interest rates serve as control variables. The study sample consists of 28 energy companies listed on the Indonesia Stock Exchange (IDX) from 2017 to 2023, with a total of 105 observations. The analysis was conducted using panel data regression. The findings indicate that sustainability reports do not significantly influence financial distress. Conversely, DAR has a significant positive effect, indicating that the greater the proportion of debt to assets, the higher the risk of financial distress. Firm size does not strengthen or weaken the relationship between sustainability reports and financial distress, but plays a role in mitigating the negative impact of DAR on the risk. GDP and interest rates do not show a significant effect. The main limitation of this study lies in the variability and incompleteness of sustainability reports across companies. These findings highlight the importance of debt management and company scale in managing financial risk in the energy sector.
Antecedents of Financial Management Behavior among Indonesian University Students: The Mediating Role of Perceived Usefulness of Fintech Indah Desi Sutriani; Willy Abdillah; Chairil Afandy
International Journal of Accounting and Finance in Asia Pasific (IJAFAP) Vol 9, No 2 (2026): June 2026
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v9i2.4535

Abstract

The rapid growth of financial technology (fintech) among Indonesian university students has reshaped financial transactions, yet it has not always led to prudent financial management practices. This study examines the influence of financial literacy and financial socialization on financial management behavior, with perceived usefulness of fintech as a mediating variable. A quantitative approach was used, with survey data collected from 309 valid responses from undergraduate students in Indonesia who actively use fintech. The data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The findings show that financial literacy (? = 0.216, p 0.05) and financial socialization (? = 0.431, p 0.05) have positive and significant effects on financial management behavior. Perceived usefulness of fintech also has a positive and significant effect on financial management behavior (? = 0.252, p 0.05), contrary to the hypothesized negative relationship. The mediation analysis further shows that perceived usefulness of fintech partially mediates the relationships between financial literacy and financial management behavior and between financial socialization and financial management behavior. These findings suggest that perceived usefulness of fintech strengthens financial management behavior among Indonesian university students.