Malik Cahyadin
Faculty of Economics and Business, Universitas Sebelas Maret Surakarta Jalan Ir. Sutami No. 36A Surakarta, Central Java, Indonesia, Phone+62-271 647481

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Modeling Risk-Based Stock Portfolio: Evidence from Long Time Series Cahyadin, Malik; Riesendra, Luthfi Aradhana; Sarmidi, Tamat
EQUITY Vol 28 No 2 (2025): EQUITY
Publisher : Department of Accounting, Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34209/equ.v28i2.11110

Abstract

The judicious selection of a stock portfolio necessitates a meticulous and precise analysis of risk and return levels. Therefore, this study employs a simulation model to generate a practical and optimally diversified stock portfolio by considering risk level. Secondary data were employed on 952 Indonesian stocks and 4 global ETFs across four stages cover historical data, liquidity, risk-return performance, and fundamental indicators during 1st March 2007– 1st March 2025. Sharpe Ratio Maximization (SR Max) and Risk Parity (RP) methods were utilized. The findings reveal that during all daily data SR Max exhibited a Compound Annual Growth Rate (CAGR) of 16.15%, a volatility of 17.39%, and a drawdown of -39.11%. Meanwhile, RP recorded CAGR of 12.81%, a volatility of 13.24%, and a drawdown of -32.98%. By considering risk analysis, SR Max is appropriate for investors who accept high levels of risk in pursuit of significant growth opportunities. Conversely, RP is better suited to investors who prioritise stability and are willing to accept lower returns. Furthermore, the implication stimulates investors able to formulate a more rational and sustainable asset allocation strategies. In addition, the financial authority should pay more attention on the financial market stability. Keywords: Stock Portfolio; Risk Parity; Sharpe Ratio; Investor Decision Making.
KETERHUBUNGAN PERTUMBUHAN EKONOMI DAN KUALITAS TENAGA KERJA Ratno, Fernaldi Anggadha; Cahyadin, Malik; Sarmidi, Tamat
Jurnal Litbang Sukowati : Media Penelitian dan Pengembangan Vol 9 No 2 (2025): Vol. 9 No. 2, November 2025
Publisher : Badan Perencanaan Pembangunan, Riset dan Inovasi Daerah Kabupaten Sragen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32630/sukowati.v9i2.2016

Abstract

Economic growth can influence the quality of the workforce through the Solow economic model, the higher the quality of the workforce has implications for economic growth. Therefore, this research aims to estimate the relationship between workforce quality and economic growth in 7 Surakarta jurisdictions during 2019-2023. The research method uses panel data regression with a total of 6 districts and 1 city in Surakarta Residency including education, namely registered job seekers according to the highest level of education completed and human gender (Jiwa) at undergraduate level, labor force participation rate (TPAK), development index (HDI) and economic growth. Research findings show that education has a significant effect on economic growth. The labor force participation rate has a negative effect on economic growth. The human development index has a significant effect on economic growth. Education, labor force participation rate, human development index simultaneously have a significant effect on economic growth in Surakarta Residency. Policy implications based on the findings, it is recommended that the Regency/Municipal Government emphasize strategies for improving the quality of education and HDI.
EVOLVING TRENDS IN HUMAN RESOURCE MANAGEMENT RESEARCH WITHIN TOURISM: INSIGHTS FROM A BIBLIOMETRIC ANALYSIS Ariana, Sunda; Helmi, Sulaiman; Cahyadin, Malik; Dewi, Deshinta Arrova; Alqudah, Mashal Kasem
Jurnal Ilmiah Ilmu Terapan Universitas Jambi Vol. 9 No. 1 (2025): Volume 9, Nomor 1, March 2025
Publisher : LPPM Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/jiituj.v9i1.35392

Abstract

Human Resource Management (HRM) is a strategic approach to managing people effectively in tourism companies, providing a competitive edge. This study aims to reveal research trends from 2020 to 2022 through a bibliometric and content analysis of HRM-related articles in the tourism industry. A total of 1,086 Scopus-indexed articles were analyzed using R Studio with the bibliometric package. Key metrics such as countries, authors, and institutions contributing to HRM research were examined. The findings show that the United States and China were the most productive countries in article output, with Wang and Zhang identified as the most prolific authors and Netreported as the leading institution. Emerging themes and keywords were also identified, indicating significant areas of focus in HRM research. The results highlight that HRM remains a trending topic in the tourism sector, driven by its role in enhancing organizational performance. This study is one of the few to provide a comprehensive bibliometric analysis of HRM in tourism, offering insights into global research productivity and trends over three years. The findings have practical implications for both academia and industry, suggesting that future research should focus on specific HRM practices that can further improve competitiveness in the tourism sector. These insights can guide tourism companies in refining HRM strategies to enhance performance and adaptability.
Analisis Rantai Usaha Padi (Beras) Merah Di Kabupaten Boyolali Widiyanti, Emi; Cahyadin, Malik
Jurnal Ilmu Ekonomi dan Pembangunan Vol 15, No 2 (2015): Jurnal Ilmu Ekonomi dan Pembangunan
Publisher : EP FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (132.832 KB) | DOI: 10.20961/jiep.v15i2.9914

Abstract

This study aims to analyze the supply chain of red rice in Boyolali District. The supply chain analysis covers parties in the supply chain, internal and external analysis and supply chain model. The research data using primary data with number of respondents about 60 farmers. Methods of analysis are using descriptive-qualitative and SWOT analysis. The results showed that the parties in the supply chain of red rice are a family/farmer, businessman/trader, partner/farmer groups, and their companions of agriculture industry. Meanwhile, internal analysis showed that red rice has a high price and resistant to pests but require a relatively long period of planting. External analysis showed that red rice has a market mainly processed food industry, but the public has not much to like the texture of it. Keywords: red rice, supply chain, SWOTJEL Classification: D24, D47
INDUSTRI PERDAGANGAN DI INDONESIA: PERKEMBANGAN DAN KINERJA Cahyadin, Malik; Sutomo, Sutomo; Ratwianingsih, Lely
Jurnal Ilmu Ekonomi dan Pembangunan Vol 17, No 2 (2017): Jurnal Ilmu Ekonomi dan Pembangunan
Publisher : EP FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (575.451 KB) | DOI: 10.20961/jiep.v17i2.14982

Abstract

This study aims to describe the development of trade industry in Indonesia. The data covers secondary data that has been published by BPS and BI. Data method uses descriptive qualitative and ratio of market dominance. The analysis showed that: a) the development of trade industry in Indonesia both wholesale and retail tend to be positive / rising especially retail trade; and b) market dominance in the trading industry in Indonesia can be seen from several aspects, are: gender employers (predominantly male entrepreneurs), the company's network (single), the number of employees (permanent), merchandise sales (household) , expenses (purchase of non-food), and income (sales of non-food). Keywords: retail, wholesale, market dominance
ANALISIS KETIMPANGAN PENDAPATAN DAN IDENTIFIKASI SEKTOR BASIS ANTAR KECAMATAN DI KABUPATEN WONOGIRI TAHUN 2010-2014 Pamrihnan, Alit; Cahyadin, Malik
Jurnal Ilmu Ekonomi dan Pembangunan Vol 16, No 2 (2016): Jurnal Ilmu Ekonomi dan Pembangunan
Publisher : EP FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (263.841 KB) | DOI: 10.20961/jiep.v16i2.4690

Abstract

This study aims to determine the level of inequality and base economic of Wonogiri Districts in 2010-2014. This study uses secondary data involve Gross Regional Domestic Product (GRDP) at Constant Price of 2000, GRDP per capita, Population and Economic Growth. The analytical method uses analysis of Williamson Index, Theil Entropy Index, Static Location Quotient (SLQ) and Dynamic Location Quotient (DLQ).Research results show that the Williamson Index of Wonogiri District tends to decrease, the higest level of income inequality happened in the Wonogiri Subdistric and the lowest level of income inequality happened in the Eromoko Subdistric. Entropy Theil index shows that inequality between subdistrict in Wonogiri District tends to decrease. Karangtengah Subdistrict has the higest income inequality while the lowest inequality is the Purwatoro Subdistrict. The Composite of LQ (SLQ dan DLQ) shows that the Agricultural Sector; Electricity, Gas and Water; Trade and Communication became base sector.Suggestions from this study cover the government of Wonogiri District is expected to improve infrastructures such as road, bridge, irrigation canal, and communication network. In addition, the Government of Wonogiri District should develop the potency of economy in each of subdistricts. Keywords: Income Inequality, Base Sector, Non Base SectorJEL: R11, R12
ANALISIS FAKTOR PENENTU DAYA SAING KOMODITAS PANGAN DI PROVINSI JAWA TENGAH Harini, .; Purwaningsih, Yunastiti; Cahyadin, Malik; Widiyanti, Emi
Jurnal Ilmu Ekonomi dan Pembangunan Vol 16, No 1 (2016): Jurnal Ilmu Ekonomi dan Pembangunan
Publisher : EP FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (114.288 KB) | DOI: 10.20961/jiep.v16i1.2324

Abstract

This study identifies and analyzes competitiveness factors of food commodities in Central Java. The research data covers primary data with 245 respondents of food commodities sellers. The research method was using the Analytic Hierarchy Process (AHP). AHP calculation results show that food competitivesness factors involve: a) the agricultural sector investment with a value of 0.28; b) agricultural infrastructure with a value of 0.24;                 c) government program of food security and safety with a value of 0.20; d) government's active role in supervision of food with a value of 0.18; e) the accessibility of local food commodities with a value of 0.06; and f) the high demand for domestic food with a value of 0.05. Keywords: food commodities, competitiveness, AHP
CONSTRAINT FACTORS OF FOOD COMPETITIVENESS IN JAVA ISLAND: AHP APPROACH Harini, Harini; Purwaningsih, Yunastiti; Cahyadin, Malik; Widiyanti, Emi
Journal of Applied Economics in Developing Countries Vol 3, No 2 (2018): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jaedc.v3i2.40128

Abstract

This study aims to analyze the constraining factors of food competitiveness on the Java island, Indonesia. The data used are primary data with samples of 245 sellers. The sampling method used is purposive sampling. The data analysis method used is Analytical Hierarchy Process (AHP). The process of data analysis begins with identifying and calculating the weight of the perception of all the constraining factors of food competitiveness. At this stage, fifteen factors with the highest and lowest weight are obtained. They, respectively, are fluctuated purchase price of local food and the lack of IT facilities for the buyer to obtain food information. The next stage is the prioritization of the constraining factors of food competitiveness.  Based on AHP approach, there are eight factors constraining food competitiveness with the first and last priority, respectively are, the integration of the agricultural business upstream - downstream and food commodity prices.Keywords: Competitiveness, Food, AHP
THE IMPACT OF BOPO, CAR AND LDR ON SUPPLY OF CREDIT IN STATE-OWNED BANKS OF INDONESIA, 2000-2016 Doeve, Juliana Fransiska Setiawan; Cahyadin, Malik
Journal of Applied Economics in Developing Countries Vol 3, No 1 (2018): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jaedc.v3i1.40100

Abstract

In 2016 the credit supply of State-owned Banks of Indonesia has contributed to total banking credit supply about 39.11%. In addition, in 2000-2016 the credit supply of State-owned Banks of Indonesia tend to increase. This research aims to analyze the impact of operational cost of operating income (BOPO), Capital Adequacy Ratio (CAR), and Loan to Deposit Ratio (LDR) on supply of credit in State-Owned Banks of Indonesia in 2000-2016. It refers to Nuryakin and Warjiyo (2007), Satria and Bagus (2010), Febrianto and Muid (2013), Khasanah and Meiranto (2015), Devi (2016), Amelia (2017), Haryanto and Widyarti (2017), Hyun and Rhee (2011), and Lemmon and Michael (2010). Furthermore, this research employs Fixed Effect Model (FEM). The research results show that BOPO has a negative impact and significant on supply of credit, LDR has a positive impact and significant on supply of credit, while CAR has no impact on supply of credit. The recommendation of this research covers: banks should held down operational cost, banks should manage risks on CAR, and banks should keep a level of LDR.Keywords: Supply of Credit, State-Owned Bank, FEM