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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Investasi Asing Langsung, Produktivitas, Utang Luar Negeri dan Pertumbuhan Ekonomi di Indonesia Dano Mustafa, Rahman; Cahyadin, Malik; Nizam, Rosmah
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.v9i2.2017

Abstract

This study examines the impact of foreign direct investment (FDI), productivity (PR), and external debt (ULN) on Indonesia's economic growth from 1993 to 2022. The findings, derived from the application of Autoregressive Distributed Lag and ECM models, indicate that FDI exerts a negligible and inconsequential influence over the long term, despite exhibiting a favourable impact in the immediate term. The findings indicate that productivity has a positive but insignificant effect, suggesting the necessity for additional time or other factors to facilitate a more measurable impact in the long run. While external debt has the most significant effect on long-term economic growth, with positive potential if allocated to productive projects, this research underscores the significance of effective debt management and support to enhance productivity and promote sustainable economic growth.
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.