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All Journal Jurnal Keuangan dan Perbankan Finesta Petra International journal of Business Studies (IJBS) Jurnal Manajemen dan Kewirausahaan The South East Asian Journal of Management International Journal of Financial and Investment Studies Jurnal Riset Ekonomi, Manajemen, dan Bisnis
Sautma Ronni Basana
Petra Christian University
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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COMPARISON OF INVESTMENT STRATEGIES IN INNOVATION AND NON-INNOVATION PORTFOLIOS WITH PORTFOLIO OPTIMIZATION Otniel William Hartanto; Sautma Ronni Basana
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.101-109

Abstract

This study aims to examine whether asset allocation strategies to the innovation sector can provide superior portfolio performance to investors. This type of research is comparative research using secondary data sources. The sample used is ETFs (Exchange Traded Funds) from investment companies namely BlackRock and Ark Invest since 2015. The focus of this study is to compare the performance of portfolios without an allocation to innovation assets and portfolios with allocations to innovation assets. This study analyzes the difference in performance between the two portfolios for various weightings and several portfolio optimization approaches, such as 'equal weighting' (1/N), optimality Lagrange, minimum-variance (MinVar), mean-variance (MV), and market-value weighted strategy.
The Influence of Profit Management on The Financial Performance of Initial Public Offering Companies Listed on The Indonesian Stock Exchange, 2010-2018 Wirawan, Richard Tjipto; Basana, Sautma Ronni
Jurnal Riset Ekonomi, Manajemen, dan Bisnis Vol. 2 No. 1 (2025): Mei 2025
Publisher : Universitas Kristen Petra dan Ikatan Sarjana Ekonomi Indonesia Cabang Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/jremb.2.1.28-38

Abstract

This research aims to determine the effect of earnings management on the financial performance of Initial Public Offering companies listed on the Indonesia Stock Exchange in 2010 - 2018. This research also uses two control variables: firm size and sales growth. The sample used is non-financial companies that report complete financial reports. The method used for this research is Ordinary Least Square regression with the Pooled Least Square data type. The results of this research indicate that earnings management has a significant negative effect on the company's financial performance. The regression results also explain that firm size has a significant positive result, which means that the impact of earnings management on the company's financial performance also depends on the size of the company. However, the control variable sales growth does not have significant results, so the impact of earnings management on the company's financial performance does not depend on the company's sales growth.
The Influence of Top Management Commitment on Competitive Advantage through Supply Chain Resilience, Supply Chain Digitalisation, and Supply Chain Responsiveness Siagian, Hotlan; Basana, Sautma Ronni; Suprapto, Widjojo; Tarigan, Zeplin Jiwa Husada
The South East Asian Journal of Management Vol. 20, No. 1
Publisher : UI Scholars Hub

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

Abstract

Research Aims: This study aims to analyse the influence of top management's commitment on competitive advantage through supply chain digitalisation, responsiveness, and resiliency. Design/Methodology/Approach: Data were collected using a five-point Likert-scale questionnaire distributed to manufacturing practitioners with a minimum supervisory position. A total of 203 valid questionnaires were analysed. Data processing was performed using SmartPLS version 4.0 to test measurement and structural models. Research Findings: The study results indicate that eight hypotheses are accepted and one is rejected. Top management commitment positively impacts supply chain digitalisation, responsiveness, and resilience. Furthermore, supply chain digitalisation and supply chain resilience both positively impact competitive advantage. However, supply chain responsiveness did not affect competitive advantage. Theoretical Contribution/Originality: This research makes a theoretical contribution to the study of digital technology adoption in supply chain management. Digital technology adoption enhances companies' competitive advantage. Managerial Implications in the South East Asian Context: In Southeast Asia, there is still low integration, limited digitalisation, and vulnerability to supply chain disruption. The results of this study provide insight into the role of top management in initiating the adoption of digital technology to strengthen resilience and supply chain responsiveness, thereby improving competitive advantage. Research Limitation and Implications: This study has limitations, particularly on the research sample, which is located in East Java, Indonesia. Hence, the study results may not be valid in other countries.
GREEN SUPPLY CHAIN SYNERGY: HOW INTEGRATION AND RISK MANAGEMENT DRIVE FINANCIAL PERFORMANCE Lydia Christian; Sautma Ronni Basana; Zeplin Jiwa Husada Tarigan
International Journal of Financial and Investment Studies (IJFIS) Vol 5 No 1 (2024): OCTOBER 2024
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.5.1.1-12

Abstract

Companies strive to win the competition to maintain sustainability. This study aims to analyze the effect of supply chain integration on financial performance through green supply chain management and supply chain risk management in manufacturing companies in East Java. This study employs a quantitative approach, utilizing a causal research design, with 90 respondents from manufacturing companies that have implemented environmentally friendly practices. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (SmartPLS 4.0) to examine the relationship between research variables. The results indicate that supply chain integration affects both green supply chain management and supply chain risk management, but it does not directly impact financial performance. Green supply chain management and supply chain risk management have been shown to have a positive effect on financial performance. Manufacturing companies with supply chain integration do not directly influence financial performance; instead, they do so through well-managed green supply chains and by mitigating supply chain risk. The results of the study emphasize the importance of synergy between supply chain integration, green supply chain, and supply chain risk management in building a sustainable and resilient supply chain. The theoretical contribution of this research is to broaden the understanding of the relationship between integration, sustainability, and risk in the context of the manufacturing industry in developing countries. The practical contribution of the research results provides manufacturing managers with guidance to strengthen internal and external coordination in implementing green management and risk management, thereby improving operational efficiency and financial performance.
THE INFLUENCE OF LITERACY, TOLERANCE, AND EXPERIENCE ON INVESTMENT DECISIONS OF GENERATION Z IN SURABAYA Kevin Halim; Leonardo Christian Susanto; Sautma Ronni Basana
International Journal of Financial and Investment Studies (IJFIS) Vol 6 No 1 (2026): APRIL 2026
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.6.1.1-10

Abstract

The increasing participation of Generation Z in the Indonesian capital market needs to be balanced with the ability to make rational investment decisions in accordance with their risk profile. This study aims to analyze the influence of financial literacy, risk tolerance, and investment experience on the investment decisions of Generation Z investors in Surabaya. The study used a quantitative explanatory approach with a purposive sampling technique. The study respondents consisted of 225 Generation Z investors aged 18–29 years, domiciled in Surabaya, owning shares in the capital market, and having a customer fund account. Data were collected through an online questionnaire and analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results showed that financial literacy had no significant effect on investment decisions. Risk tolerance had a positive and significant effect on investment decisions. Investment experience also had a positive and significant effect. These three variables explained 33.0% of the variation in investment decisions. These findings indicate that Generation Z investment decisions are more determined by readiness to face risks and direct experience in the capital market than by mastery of basic financial concepts. Therefore, investment education programs need to focus on fundamental analysis, technical analysis, investment simulations, and portfolio risk management.
Co-Authors Alan Anggala Andreas Andreas Chiristina Chiristina Clara Bella Jessica Arijaya EVELYN EVELYN Evelyn Evelyn Fendi Pramono Ferdi Nusaputra Hendarto, Kevin Hendra Hendra Herman Sumarsono Hotlan Siagian Jessica Ratna Subandi Juli Vesiania Kevin Halim Kevin Hendarto Leonardo Christian Susanto Lydia Christian Merry Chirstanti Njo Anastasia Otniel William Hartanto Pei Fun Liem Reynaldi Susantono Ridhotama Shanti Darsih Ottemoesoe Sisca Shanthana L. Steven Salenko Pramono Suprapto, Widjojo vina wijaya Wirawan, Richard Tjipto Zeplin Jiwa Husada Tarigan