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All Journal Jurnal Keuangan dan Perbankan JDM (Jurnal Dinamika Manajemen) JEJAK Journal of Economics, Business, & Accountancy Ventura BAKI (Berkala Akuntansi dan Keuangan Indonesia) EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Jurnal Penelitian Pendidikan IPA (JPPIPA) Jurnal BPPK : Badan Pendidikan dan Pelatihan Keuangan Jurnal Pasar Modal dan Bisnis Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Quantitative Economics and Management Studies Jurnal Manajemen dan Usahawan Indonesia Indonesian Capital Market Review The South East Asian Journal of Management International Journal of Accounting & Finance in Asia Pasific Journal of International Conference Proceedings Eduvest - Journal of Universal Studies IIJSE
Dony Abdul Chalid
Department Of Management, Faculty Of Economics And Business, Universitas Indonesia
Aerospace Engineering Agriculture, Biological Sciences & Forestry Humanities Biochemistry, Genetics & Molecular Biology Chemical Engineering, Chemistry & Bioengineering Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Energy Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Materials Science & Nanotechnology Mathematics Neuroscience Physics Social Sciences Other

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The Impact of Intellectual Capital Configuration on Diversification in Banking Industry: Evidence from Indonesia Aiyubi, Rangga Yusuf; Chalid, Dony Abdul
The South East Asian Journal of Management Vol. 14, No. 2
Publisher : UI Scholars Hub

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

Abstract

Research Aims: This study aims to examine the impact of Intellectual Capital configuration on business diversification in Indonesian banking Industry Design/methodology/approach: This reseach employ panel data regression analysis, using data of 88 commercial banks in Indonesia druing the year of 2014 to 2019. Research Findings: The results of this study shows that Human Capital Efficiency and Structural Capital Efficiency affects the strategy of income diversification. While Capital Employed Efficiency affects the strategy of asset diversification. The results Theoretical Contribution/Originality: Previous research more focus on the effect of diversification on performance. Researche on how the internal capital of an organization affects the level of diversification in the banking industry is still limited. Using a country context where the banks are very heterogeneous (both in terms of size and intellectual capacity), this research can analyze how these differences affect the level of diversification. Managerial Implication in the South East Asian context: the aspects of human resources and internal processes greatly affect the diversification of banking products. Furthermore, diversification of bank assets will be strongly influenced by working capital, which is currently a concern for financial services authorities in some Asian countries. Research limitation & implications: The indicators used to measure intellectual capital in this study rely more on financial information in the financial statements. This indicator does not measure directly the intellectual capital of a bank organization.
The Effect of Cash Flow on External Financing, Debt Issuance, and Equity Issuance: The Moderation Role of Board Gender Diversity Muhammad Faisal Sihite; Dony Abdul Chalid
International Journal of Accounting & Finance in Asia Pasific (IJAFAP) Vol 5, No 2 (2022): June Edition of International Journal of Accounting Finance in Asia Pasific
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (172.606 KB) | DOI: 10.32535/ijafap.v5i2.1592

Abstract

This paper investigates the relationship between cash flow and external financing and the moderating effect of board gender diversity. It aims to explain how cash flow affects external financing with three proxies of Equity Issuance, Debt Issuance, and External Financing. This study explains how Board Gender Diversity influences Cash Flow and External Financing. This study took a sample of a company listed in the Indonesia Stock Exchange from 2014 until 2019 and used Ordinary Least Square (OLS) for the regression method. The findings indicate a negative correlation between Cash Flow and External Financing. Addedly, Board Gender Diversity insignificantly affects the moderation between Cash Flow and External Financing. Keywords: Board Gender Diversity, Cash Flow, Debt Issuance, Equity Issuance, External Financing
IMPACT OF CEO CHARISMA ON FINANCIAL PERFORMANCE: EVIDENCE FROM INDONESIAN FIRMS Anindya Apta Apsari; Dony Abdul Chalid
Berkala Akuntansi dan Keuangan Indonesia Vol. 8 No. 1 (2023): Berkala Akuntansi dan Keuangan Indonesia
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/baki.v8i1.42236

Abstract

Charisma is a personal characteristic of a person that makes others view them as a leader. Some prior studies on CEO charisma and financial performance found a positive relationship between CEO charisma and their firm’s performance, especially during conditions of uncertainty. This study seeks to find the impact of CEO’s charisma on Indonesian firms’ financial performance, using firm risk as the uncertainty condition. This study picked some firms from IDX80 because the firms in that index are believed to have a higher market capitalization and more known by the public, thus giving the possibility of more news coverage. CEO’s charisma is calculated by doing text analysis on articles discussing these CEOs. Firm performance measures used were ROA and Tobin’ s Q. This study used firm risk measured from beta and epsilon of CAPM as a moderating variable to find whether firm risk act as a moderator to increase the effect of CEO’s charisma on firm performance. Panel data regression was used to determine relationship between the variables. This study found a positive and significant relationship between charisma and firm performance when Tobin’s Q was used as a dependent variable and firm-specific risk was included in the regression. However this study found no significant moderating variable by firm risk on the relationship between CEO charisma and firm performance.
Financial Volatility Spillover in COVID-19 Pandemic Period: Evidence from the US and ASEAN Stock Market Nurfaiz, Rifki; Chalid, Dony Abdul
Jurnal Keuangan dan Perbankan Vol 26, No 1 (2022): January 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i1.6906

Abstract

A recession is part of the economic cycle that occurs in a certain period. This article investigates the effects of volatility spillover in the COVID-19 pandemic that occurred in 2020 using stock market index data from the US and ASEAN countries: Indonesia, Malaysia, Singapore, Thailand, and the Philippines. Investigations in the prior, during, and post of the 2008 crisis period were also investigated to analyze the differences between the two. This study used the BEKK-MGARCH model to analyze the spillover effect of volatility between stock indices. The results are not much different from previous research from Vo (2020), where all ASEAN stock markets except the Philippines were affected by the volatility spillover by the US market. In general, from the two periods, each ASEAN index also gives a bidirectional influence of volatility to other ASEAN indices, with the JKSE, KLSE, and SET indices having the most volatility integrated with other indices and the PSE index being the least integrated.
Competition in Microfinance Institutions: Does Voluntary Saving Product Have a Moderating Role? Nisa, Chaerani; Viverita, Viverita; Chalid, Dony Abdul
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.11014

Abstract

This study investigates the effect of competition and the moderating role of voluntary savings on the outreach and sustainability of Microfinance Institutions (MFIs). The study uses data from 39 countries and 609 MFIs from 2004 to 2018. Unit of analysis in this study includes all MFIs in the Mix Market database. It uses Boone Indicator to measure competition. In addition, this study uses the random effects model to regress the model. We find that competition corresponds with decreased outreach and sustainability, but the value is insignificant.  The first research question is how competition affects MFIs’ outreach and sustainability, and the second research question is whether voluntary savings can work as a moderating variable in the relationship between competition and MFIs’ outreach and sustainability. Findings of this study provide guidance to MFIs and regulators regarding the ideal form for MFIs whether they should prioritize lending or expand their services to include voluntary savings. DOI: 10.26905/jkdp.v27i4.11014
The Effect of Cash Flow on External Financing, Debt Issuance, and Equity Issuance: The Moderation Role of Board Gender Diversity Sihite, Muhammad Faisal; Chalid, Dony Abdul
International Journal of Accounting and Finance in Asia Pasific (IJAFAP) Vol 5, No 2 (2022): June 2022
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v5i2.1592

Abstract

This paper investigates the relationship between cash flow and external financing and the moderating effect of board gender diversity. It aims to explain how cash flow affects external financing with three proxies of Equity Issuance, Debt Issuance, and External Financing. This study explains how Board Gender Diversity influences Cash Flow and External Financing. This study took a sample of a company listed in the Indonesia Stock Exchange from 2014 until 2019 and used Ordinary Least Square (OLS) for the regression method. The findings indicate a negative correlation between Cash Flow and External Financing. Addedly, Board Gender Diversity insignificantly affects the moderation between Cash Flow and External Financing. Keywords: Board Gender Diversity, Cash Flow, Debt Issuance, Equity Issuance, External Financing
The Effect of Market Power on Bank’s Net Interest Margin: The Moderating Role of Financial Access Mahayana, I Made Pradityarjuna Mahatmyam; Chalid, Dony Abdul
Journal of International Conference Proceedings Vol 4, No 1 (2021): Proceedings of the 9th International Conference of Project Management (ICPM) Mal
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v4i1.1134

Abstract

The research focuses on determining the effect of commercial bank’s market power on net interest margin and the moderating role of financial access. The study uses annual data of 33 commercial banks in Indonesia from 2012 to 2019 based on the category of State-Owned Commercial Banks and National Private Commercial Banks. The data is obtained from secondary data, using financial reports published by commercial banks. The data is analyzed using moderated regression analysis to estimate two models, basic model is used to estimate the effect of market power on net interest margin, while the interaction model is used to estimate the moderating effect of financial access. Market power was measured using the Lerner index of each bank. Financial access was measured by the number of branches and the availability of electronic banking channels such as mobile banking, internet banking, and digital branch. The results show that the increase in commercial bank’s market power significantly increases net interest margin. Other results also show that branch and mobile banking & internet banking significantly moderate the effect of market power on the net interest margin, while the digital branch is not significantly moderating the relationship between market power and net interest margin.
Analysis of The Role of Internal Audit in The Implementation of Corporate Governance at Pt Bank Mandiri Chalid, Dony Abdul; Rifqi, Achmad
Eduvest - Journal of Universal Studies Vol. 5 No. 7 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i7.51514

Abstract

The need for complex control systems is increasing due to the complexity, size, and operations of companies. To support economic recovery and stable growth in the future, corporate leadership issues have become one of the most important topics of discussion in Indonesia. It is hoped that the principles of corporate governance can improve the quality of financial statements, which will ultimately foster the trust of financial statement users, including investors. With this development of corporate governance, the Board of Directors is forced to improve corporate governance in its own company. As a result, the Council needs help to fulfill its duties. Internal audit is one of the tools that supports this, and its function evolves according to the needs of the company's stakeholders. Business developments result in increased risk, which causes the need to increase. This research will measure the effectiveness of internal audit on corporate governance, and identify the roadmap and Internal Audit Strategic Plan in the form of suggestions and recommendations to improve corporate governance. Data and information collection was obtained through questionnaires, as well as conducting direct interviews with the internal audit department and validating related documents.
Analysis of the Factors Influencing the Intension to Use Cross-Border QRIS as A Payment Method Santi, Bestari Nirmala; Chalid, Dony Abdul
Quantitative Economics and Management Studies Vol. 5 No. 4 (2024)
Publisher : PT Mattawang Mediatama Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.qems2750

Abstract

Aligned with the goal of the Indonesian Payment System 2025 to accelerate inclusive finance, develop MSMEs (Micro, Small, and Medium Enterprises), streamline transactions, and enhance economic growth, the government has implemented cross-border QRIS payment system cooperation with Thailand, Malaysia, and Singapore. Technology Acceptance Model/TAM, Unified Theory of Acceptance and Use of Technology 2/UTAUT2, user system trust theories (perceived trust and perceived security), and financial literacy are integrated to identify factors influencing the intention to use cross-border QRIS. The research method is quantitative using SEM (Structural Equation Modeling), data collected through online questionnaires distributed to cross-border QRIS users. The total number of participant respondents is 356, and the data obtained are processed using SmartPLS application. The data analysis results from this study show that the intention to use QRIS cross-border is only significantly and positively affected by perceived usefulness, habit, and then hedonic motivation.
Analysis of the Implementation of Discounted Cash Flow and Multiple Methods in Determining the Fair Value of Company Shares Related to the Initial Public Offering (IPO) Plan Case Study: PT XYZ Rahman, Fadli; Chalid, Dony Abdul
Eduvest - Journal of Universal Studies Vol. 5 No. 8 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i8.51316

Abstract

This study explores the implementation of stock valuation approaches, specifically the Discounted Cash Flow (DCF) and Multiples Valuation methods (P/E, EV/EBITDA), to determine the intrinsic value of PT XYZ shares in the context of its planned Initial Public Offering (IPO). Although stock valuation is a crucial element in the IPO process, most previous literature focuses on public companies and specific industry sectors, with limited discussion on state-owned construction enterprises (BUMN Karya) within the construction sector. This study contributes theoretically to the stock valuation literature in the construction services sector through a qualitative approach using an exploratory case study on PT XYZ. The DCF analysis is conducted by projecting cash flows using the Free Cash Flow to the Firm (FCFF) approach, discounted by the Weighted Average Cost of Capital (WACC), and estimating the share value based on market multiples (P/E and EV/EBITDA). The study also conducts scenario analyses (pessimistic, moderate, optimistic) and sensitivity analyses on key variables such as revenue and cost of goods sold (COGS) to assess the robustness of the valuation under varying assumptions. The results show that the intrinsic value of the shares based on the DCF method ranges from Rp6,627 to Rp28,239 per share, while the multiples valuation yields a range between Rp15,786 and Rp16,868, closely aligning with the moderate DCF scenario result of Rp15,880. These findings highlight the importance of valuation approaches in generating more ideal and realistic share price estimates prior to an IPO.
Co-Authors achmad rifqi, achmad Aiyubi, Rangga Yusuf Anindya Apta Apsari Anisti, Novia Putri Aprisal W. Malale Arief Hadiwibowo Bidjaksono, Muhammad Brilliant Chaerani Nisa, Chaerani Fadli Rahman, Fadli Gisella, Luh Putu Gina Hastanto, Gilang Rahmat Hati, Sri Rahayu Hijrah Humarseno, Ony I Made Pradityarjuna Mahatmyam Mahayana Isnandari, Melati Laksmindra Joshua, Yolanda Luh Putu Gina Gisella Mahayana, I Made Pradityarjuna Mahatmyam Mery Mery Muhammad Faisal Sihite Nadia Putri Maharani Nurfaiz, Rifki Parsaulian, Renata Ratnasari, Nissa Ghulma Santi, Bestari Nirmala Setiahutami, Savitri Agung Sihite, Muhammad Faisal Sodri, Ahyahudin Vincentius Ryan Cokrodiharjo Viverita Viverita