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All Journal International Journal of Electrical and Computer Engineering Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal Jurnal Manajemen Teori dan Terapan Management and Economics Journal (MEC-J) Syarikat : Jurnal Rumpun Ekonomi Syariah eCo-Buss Jurnal Teknik Industri Terintegrasi (JUTIN) Muhammadiyah Riau Accounting and Business Journal International Journal on Social Science, Economics and Art International Journal of Education, Social Studies, And Management (IJESSM) Journal of Indonesian Economy and Business Journal of Islamic Economics Lariba Journal of Artificial Intelligence and Digital Business Prosiding Seminar Nasional Manajemen dan Ekonomi Journal of Economics, Entrepreneurship, Management Business and Accounting Sharing: Journal Of Islamic Economics, Management And Business Money: Journal of Financial and Islamic Banking CARE: Jurnal Pengabdian Multi Disiplin Dedikasi: Jurnal Pengabdian Pendidikan dan Teknologi Masyarakat Journal of Digital Community Services Journal Of Community Sustainability General Multidisciplinary Research Journal Journal Of Legal Sustainability (JOLS) Journal of Financial and Business Journal of Community Service and Empowerment Dedikasi: Jurnal Pengabdian Pendidikan dan Teknologi Masyarakat JES-TM Social and Community Service
Wahyu Febri Ramadhan Sudirman
Universitas Pahlawan Tuanku Tambusai
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Energy Engineering Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mechanical Engineering Public Health Social Sciences Other

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The Role of Good Corporate Governance in Improving Company Financial Performance Wahyu Febri Ramadhan Sudirman; Muhamamd Syaipudin
General Multidisciplinary Research Journal Vol. 3 No. 1 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i1.62

Abstract

Introduction: Good Corporate Governance (GCG) is considered a key factor in enhancing firm value and ensuring sustainable business performance, particularly for companies included in the LQ45 index. Effective governance mechanisms are expected to strengthen market confidence and improve financial outcomes. This study aims to examine the impact of GCG mechanisms on firm value proxied by Tobin’s Q. Methods: This research employs a quantitative approach with a causal design. The sample consists of 30 LQ45 companies listed on the Indonesia Stock Exchange during 2015–2019, resulting in 150 firm-year observations. The independent variables include Woman on Board (WD), Committee Audit (CA), Board of Directors size (BoD), Board of Commissioners size (BoC), and Board Diversity (BD), with Company Size (SZ) and Leverage (LV) as control variables. Secondary data were obtained from annual reports and analyzed using panel data regression at a 5% significance level. Results: The findings indicate that Woman on Board (WD) has a positive and significant effect on Tobin’s Q, suggesting that female representation enhances firm value. Committee Audit (CA) and Board Diversity (BD) show significant negative effects. Board Size (BoD) and Commissioner Size (BoC) do not significantly influence firm value. Company Size (SZ) has a positive and significant effect, while Leverage (LV) is not significant. Conclusion and Suggestion: The results imply that governance effectiveness depends on quality rather than structure alone. Firms should strengthen substantive governance practices. Future studies may include additional governance indicators and extended observation periods.
Financing Risk Management in Islamic Banks Binda Rahma Cahyani; Wahyu Febri Ramadhan Sudirman
General Multidisciplinary Research Journal Vol. 3 No. 1 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i1.65

Abstract

Introduction:Financing risk management is a fundamental component of Islamic banking operations because it is directly linked to the potential emergence of non-performing financing (NPF), which may threaten financial stability and long-term performance. Islamic banks operate under Sharia principles that prohibit interest (riba) and emphasize profit-and-loss sharing contracts such as mudharabah and musyarakah. These unique characteristics create a distinct and relatively more complex risk profile compared to conventional banks. Financing risk arises not only from customers’ inability to fulfill contractual obligations but also from information asymmetry, moral hazard, weak monitoring systems, and fluctuating macroeconomic conditions. Methods:This study applies a qualitative approach using a systematic literature review. Relevant national and international journal articles published within the last ten years were collected and analyzed to examine financing risk management practices, determinants of financing risk, and their implications for Islamic banking stability. Results:The findings show that comprehensive risk management covering risk identification, measurement, monitoring, and control significantly reduces NPF levels and strengthens Islamic banks’ resilience during economic uncertainty. Internal factors such as corporate governance quality, effective internal control systems, and managerial competence substantially influence financing risk levels. External factors, including macroeconomic stability, regulatory policies, and overall financial system conditions, also contribute to financing risk dynamics. Conclusion and Suggestion: Strengthening financing risk management is essential to ensure sustainability, credibility, and long-term growth. Islamic banks should enhance governance practices, improve monitoring mechanisms, and continuously adapt risk mitigation strategies to evolving economic and regulatory environments.
Price Changes of Essential Food Commodities in Traditional Markets Ayu Apprrilliani Selvia; Aisyah Dita Ariani; Wahyu Febri Ramadhan Sudirman
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.91

Abstract

Introduction:The rapid advancement of information technology has accelerated the digital transformation of Indonesia’s financial sector, particularly in capital market investment activities. The emergence of digital investment platforms, online brokerage services, and financial technology applications has increased retail investor participation by improving accessibility, efficiency, and affordability. Methods:This study employed a qualitative literature review approach. Relevant studies were identified through searches in Scopus, ScienceDirect, and Google Scholar using the keywords digital investment, capital market, financial technology, online trading, retail investors, and Indonesia. The review included peer-reviewed journal articles published between 2020 and 2025. Inclusion criteria comprised studies focusing on digital investment adoption, investor behavior, financial technology, and capital market development, while duplicate articles, conference abstracts, editorials, and studies unrelated to investment activities were excluded. Following the screening process, 30 eligible articles were selected and analyzed using descriptive thematic analysis to identify recurring themes, opportunities, challenges, and research gaps. Results:The findings indicate that digital investment has significantly increased retail investor participation, improved market accessibility, enhanced trading efficiency, and supported financial inclusion in Indonesia. Nevertheless, the rapid expansion of digital investment has also heightened cybersecurity risks, information asymmetry, behavioral biases, and speculative investment practices that may influence investment decisions and market stability. Conclusion and Suggestion:Digital investment has become an important driver of Indonesia’s capital market development. However, sustainable growth requires strengthening financial literacy, enhancing investor protection, improving cybersecurity measures, and implementing adaptive regulatory frameworks. Future studies are recommended to employ empirical methods to examine the causal relationships between digital investment adoption, investor behavior, financial literacy, and capital market performance in Indonesia.
Comparative Analysis of The Benefits of Sukuk and Bonds in Indonesia Suci Mardiyah; Alfiatun Zahrah; Muhammad Syaipudin; Mifta Hasda; Wahyu Febri Ramadhan Sudirman
Journal of Financial and Business Vol 1 No 1 (2024)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/jfb.v1i1.13

Abstract

This research aims to analyze the comparison of profits between sukuk and bonds in Indonesia, focusing on aspects such as structure, principles, and regulations, as well as the risk and profit profile of each instrument. Sukuk, which is based on Islamic sharia principles, offers the benefits of real asset ownership and profit-sharing-based income, while conventional bonds offer certainty of income through fixed interest payments. This study also discusses regulations governing the issuance of sukuk and bonds, and their impact on investment security and transparency. The analysis results show that sukuk are more attractive to investors who seek sharia compliance and stability in real assets, while bonds are more attractive to those who want income certainty and investment flexibility. This research concludes that the choice between sukuk and bonds must be adjusted to the risk profile, investment objectives, and personal preferences of each investor in Indonesia.
Development of Mutual Funds in The Indonesian Capital Market Syafnur Muhammad Rizky; Bunga Andini; Mifta Hasda; Muhammad Syaipudin; Wahyu Febri Ramadhan Sudirman
Journal of Financial and Business Vol 1 No 1 (2024)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/jfb.v1i1.15

Abstract

This research examines the development of mutual funds in the context of the Indonesian capital market. Mutual funds have become one of the investment instruments that is increasingly popular and important in diversifying investor portfolios in Indonesia. This research aims to analyze the factors that influence the growth of mutual funds, the role of regulation in regulating the market, and the challenges faced in optimizing the potential of mutual funds as an effective and safe investment instrument. This study uses a descriptive-analytical approach by collecting secondary data from various literature sources related to the development of capital markets and mutual funds in Indonesia. The analysis results show that the growth of mutual funds is influenced by increasing public financial awareness and ease of access to information about investment products. The regulatory role carried out by the Financial Services Authority (OJK) also contributes to creating a more structured and safe investment environment for investors. However, several challenges need to be overcome, such as market fluctuations which can affect investment values, liquidity problems in several types of mutual funds, as well as expanding financial education to the public. Better regulation is needed to address these challenges and increase transparency and protection for investors.
Financial Performance Analysis of PT Senantias Makmur Binda Rahma Cahyani; Wahyu Febri Ramadhan Sudirman; Saru Reza
Journal of Financial and Business Vol 1 No 1 (2024)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/jfb.v1i1.17

Abstract

Financial ratio analysis is an important tool for evaluating a company's financial performance, identifying trends, and determining existing financial strengths and weaknesses. This study analyzes PT Senantiasa Makmur's financial ratios for 2022 and 2023, including liquidity, solvency and profitability ratios. The analysis results show an increase in the current ratio from 1.6 to 1.8, quick ratio from 1.0 to 1.2, and cash ratio from 0.4 to 0.5, which indicates an improvement in the company's liquidity. In addition, the decrease in Debt to Asset Ratio from 0.63 to 0.60 and Debt to Equity Ratio from 1.70 to 1.50 indicates that the company has reduced its dependence on debt, reducing financial risk. The increase in Return on Assets (ROA) from 0.08 to 0.09 and Return on Equity (ROE) from 0.21 to 0.22 shows that the company is more efficient in using assets and equity to generate profits. Overall, PT Senantiasa Makmur demonstrated significant improvements in financial performance, placing it in a stronger position for future growth and sustainability.
Financial Performance Analysis of PT Bank Syariah Indonesia Al Insani Mutiara Ramadhan; Wahyu Febri Ramadhan Sudirman; Hidayat Hidayat
Journal of Financial and Business Vol 1 No 1 (2024)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/jfb.v1i1.18

Abstract

This research aims to analyze the financial performance of PT Bank Syariah Indonesia (BSI) from 2022 to 2023 through evaluating main financial ratios. The data used includes current ratio, quick ratio, return on assets (ROA), return on equity (ROE), and capital adequacy ratio (CAR). Analysis is carried out to understand changes in bank financial conditions and their implications for stability and operational performance. the analysis results show a significant increase in short-term liquidity with an increase in the current ratio and quick ratio, which reflects better liquidity management. Increasing ROA and ROE indicate increased efficiency in the use of assets and equity to generate profits. In addition, the increase in CAR confirms that BSI has stronger capital reserves to face financial risks. These findings paint a positive picture of BSI's financial health and support investor and stakeholder confidence in the bank's future.
Two Sides: Development of Non-Bank Islamic Financial Institutions in Indonesia Binda Rahma Cahyani; Muhammad Arif; Wahyu Febri Ramadhan Sudirman; Rinda Fithriyana; Saru Reza
Journal of Financial and Business Vol 1 No 2 (2025)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/jfb.v1i2.29

Abstract

This study aims to identify challenges and opportunities in developing Non-Bank Islamic Financial Institutions (LKSNB) in Indonesia. With the increasing public interest in Sharia-based financial services, LKSNB has great potential to become an important pillar in supporting the growth of the sharia economy. The research method used is literature study and descriptive analysis, regarding secondary data from various reports of related institutions and academic literature. The results of the study indicate that the main challenges faced by LKSNB include low sharia financial literacy among the public, regulations that do not fully support the development of LKSNB, and limited human resources who have special competence in the field of sharia finance. On the other hand, great opportunities arise from the growth of the global sharia economy, government support through various policies, and increasing public awareness of the importance of a financial system based on sharia principles.
The Role of Baitul Maal Wat Tamwil (BMT) in Community Economic Empowerment Al Insani Mutiara Ramadhan; Muhammad Zaim; Sela Hermawati; Wahyu Febri Ramadhan Sudirman; Muhammad Syaipudin
Journal of Financial and Business Vol 1 No 2 (2025)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/jfb.v1i2.30

Abstract

This study aims to examine the role of Baitul Maal wat Tamwil (BMT) in empowering the community's economy, especially in areas with low levels of economic welfare. BMT as a sharia-based microfinance institution has two main functions: a social fund management institution (Baitul Maal) and a commercial financial institution (Baitul Tamwil). This study uses a qualitative approach with a case study method on several BMTs in the research area. Data were collected through in-depth interviews, observations, and documentation, then analyzed using thematic analysis techniques. The study results indicate that BMT has contributed to improving the community's standard of living through micro-business financing, entrepreneurship training, and management of social funds in the form of zakat, infaq, and sedekah. In addition, BMT also plays a role in strengthening the community's social capital by encouraging active participation in community-based economic activities. The obstacles BMT faces in economic empowerment include limited capital, lack of financial literacy in the community, and challenges in maintaining sharia principles amidst competition from conventional financial institutions.
Liquidity Risk Management in Islamic Banks in The Digital Era Bunga Andini; Syafnur Muhammad Rizki; Wahyu Febri Ramadhan Sudirman
Journal of Financial and Business Vol 1 No 2 (2025)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/jfb.v1i2.34

Abstract

This study discusses liquidity risk management in Islamic banks in the digital era, focusing on strategies implemented to maintain financial stability amidst technological developments. Digital transformation in the banking industry brings opportunities and challenges, including increasing service efficiency and more complex liquidity risks due to changes in transaction patterns and customer preferences. This study uses a quantitative approach with secondary data analysis from Islamic bank financial reports and relevant liquidity indicators. The results of the study indicate that the application of financial technology (fintech) and digital-based risk management strategies can improve the liquidity resilience of Islamic banks. In addition, the optimization of Islamic financial instruments, such as Sukuk and Sharia-based interbank markets, is a key factor in maintaining liquidity balance. Thus, this study provides insight for Islamic banking regulators and practitioners in designing policies that are adaptive to digital changes to strengthen the resilience of the Islamic banking sector.
Co-Authors Adams, Ravi Afrinis, Nur Aisyah Dita Ariani Al Insani Mutiara Ramadhan Alfiatun Zahara Alfiatun Zahrah Amalia, Fazilla Amalia, Nala AMELIA, NUR Amrina, Dania Hellin Andi Irfan, Andi Andini, Bunga Anggun Pratiwi Anggun Pratiwi Arif Mudi Priyatno Arif Mudi Priyatno Arif Mudi Priyatno Arif, Muhamamd Aryadi Aryadi Aryadi Aryadi Ayu Apprrilliani Selvia Ayu Nadhirah Berliana Putri Binda Rahma Cahyani Bord Nandre Aprila Bunga Andhini Bunga Andhini Bunga Andini Cholidhazia, Putri Despira, Despira Diany Mairiza Eka Roshifita Rizqi Eti Eti Fahmi Iqbal Firmananda Fajri Adrianto Faridatus Suhadak Firmanda, Fahmi Iqbal Fitriyana, Rinda Hastuty, Milda Hayu Ardina Hermawati, Sela Hidayat Hidayat Hidayat Hidayat Hidayat Irmawanti Irmawanti Irmawanti, Irmawanti Irvan, Puji Ananda Izzah, Aqidatul Jati, Putri Zulia Lasepa, Wanda Lismawati, Lismawati M Abdi Dzil Ikhram M. Halim, M. Maini, Nur Mardiyah, Suci Maretha Ika Prajawati Martini, Aldini Nofta Maziyah, Putri Maslahatul Mifta Hasda Mohd. Winario Muhamamd Riski Muhamamd Syaipudin Muhammad Arif Muhammad Ikhsan Alif Muhammad Syaipudin Muhammad Zaim Muhammad Zakir Muhammad Zakir Nala Amalia Nala Amelia Nana Sari Nining Suniarti Nisyah, Habibah Tun Noranisa, Noranisa Nur Afrinis Nur Afrinis Nur Amelia Nuraziza, Sania Nurnasrina Nurnasrina Paisal Paisal Paisal Puji Ananda Irvan Raden Mohamad Herdian Bhakti Raja Joko Musridho Ramadhan, Al Insani Mutiara Ramadhaniati Fitri Ravi Adams Reyngga Yusvika Aviandita Riani Riani, Riani Rida Rahim Rifqil Khairi Rinancy, Hariyet Rinda Fithriyana Rinda Fithriyana Rinda Fitriyana Risya Khaerun Nisa Risya Khaerun Nisa Rizqi, Eka Roshifita Rizqon Jamil Farhas Rizqon Jamil Farhas Rosalianti Rosalianti Rusnedy, Hidayati Saadah , Nila Sagena, Basir Sari, Efti Novita Sari, Nana Saru Reza Sasmitandia, Kienna Candra Sela Hermawanti Sela Hermawati Siahaan, Nur Halimah Suci Mardiya Suci Mardiyah Supardi Supardi Syafiq, M Rizan Syafnur Muhammad Rizki Syafnur Muhammad Rizki Syafnur Muhammad Rizky Syaipudin, Muhamamd Tafdil Husni Tanjung, Lailatul Syifa Wanda Lasepa Yohanisti, Yohanisti Yuni Siswanti Yusup Yusup Zahara, Alfiatun Zubaidah Assyifa