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Kapasitas Keuangan dan Kesadaran Atas Produk Keuangan: Survei Rumah Tangga Berpenghasilan Rendah di Jabodetabek dan Surakarta, Indonesia Dwi Nastiti Danarsari; Viverita -; Zaafri A. Husodo
Jurnal Manajemen dan Usahawan Indonesia Vol 44, No 1 (2021): Jurnal Manajemen dan Usahawan Indonesia
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Indonesia

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Abstract

Penelitian ini bertujuan untuk menguji hubungan antara kapasitas keuangan dan kesadaran atas produk keuangan pada rumah tangga berpenghasilan rendah di Jabodetabek dan Surakarta dengan melaksanakan survei kepada 1.520 responden rumah tangga. Hasil survei menunjukkan bahwa rekening tabungan dan kredit kepemilikan kendaraan adalah dua produk keuangan yang paling dikenal oleh responden. Lebih lanjut, hasil tabulasi silang dan analisis Chi-Square menemukan bahwa pada responden Jabodetabek, responden yang pernah memiliki dan sedang menggunakan produk keuangan lebih banyak berasal dari responden yang kapasitas keuangannya lebih kuat, sedangkan responden yang tidak pernah memiliki dan tidak sedang menggunakan produk keuangan lebih banyak berasal dari responden yang keuangannya lebih lemah. Lebih lanjut, baik di Jabodetabek maupun Surakarta diperoleh hasil bahwa responden yang tidak pernah memiliki dan tidak sedang menggunakan produk keuangan kredit kepemilikan kendaraan lebih banyak berasal dari responden yang kapasitas keuangannya relatif lebih lemah. Hasil ini mengindikasikan bahwa kapasitas keuangan diasosiasikan dengan kesadaran atas produk keuangan.
Analysis Of Determination On The Efficiency Of Multifinance Companies In Indonesia Retno Ariani; Dwi Nastiti Danarsari
International Journal of Islamic and Social Sciences (ISOS) Vol. 1 No. 2 (2021): ISOS : International Journal of Islamic and Social Sciences
Publisher : UIN Mataram

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Abstract

A multifinance institution is a non-bank financial institution that lends money to customers or debtors in order to conduct a service or goods transaction. The multifinance industry has faced a number of issues in recent years, one of which is an increase in non-performing loans as a result of a decline in industrial growth, which has resulted in an increase in the ratio of NPLs, necessitating a re-evaluation. This study was carried out to assess the performance of multifinance companies in Indonesia from 2014 to 2019 and to identify the factors that influence it, so that the company can improve the relevant variables and increase company efficiency in the future. This study used the Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA) methods to obtain the efficiency score and then using Tobit regression to determine which factors have an impact on efficiency. The results show that the Capital ratio, Size, Expense, ROA, and Borrowed Fund have a significant effect on multifinance efficiency in 2014-2019, with the capital ratio, ROA, and Borrowed Fund having a significant positive effect on efficiency, while Size and Expense have a significant negative effect on efficiency.
The Impact of Indonesia Sovereign Credit Rating Upgrades and Investment Grade Status on the Sovereign Spread Changes Novianti, Dwi Anggi; Danarsari, Dwi Nastiti
The Indonesian Capital Market Review Vol. 5, No. 1
Publisher : UI Scholars Hub

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Abstract

Getting sovereign credit rating upgrades and achieving investment grade status are main goals for countries in order to gain lower yield spread and cost of borrowing. By using ordinary least square method, this research is aimed to analyze the impact of Indonesia sovereign credit rating up-grade and investment grade status on sovereign spread changes. The result shows that the sovereign credit rating upgrades within speculative grade category and investment grade status for Indonesia do not significantly impact sovereign spread reduction. On the other hand, the global condition, especially global risk appetite, has significant impact to Indonesia sovereign yield spread. The research also indicates that Indonesia macroeconomic fundamentals do not significantly explain the movement of sovereign yield spread.
The Impact of Trade Openness and Financial Openness on Information Efficiency of Five ASEAN Countries’ Stock Market 2000-2014 Nugroho, Setyo; Danarsari, Dwi Nastiti
The Indonesian Capital Market Review Vol. 11, No. 2
Publisher : UI Scholars Hub

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Abstract

This paper investigates the impact of trade openness and financial openness towards informationefficiency of the ASEAN countries’ stock market. The sample consists of the five most developedstock markets in the ASEAN region – Indonesia, Malaysia, the Philippines, Singapore, and Thailand, covering research period of 2000-2014. This study employs panel data analysis in the model. The result suggests that, when Singapore is excluded from the sample, de facto trade openness has a negative impact on information efficiency, while de facto financial openness has a positive impact on information efficiency. De jure measure is shown to have no significant impact on information efficiency.
THE COVID-19 INFORMATION IMPACT ON MOVEMENT AND VOLATILITY OF ASEAN-5 CURRENCY Muhammad Rifki Adiyat; Dwi Nastiti Danarsari
Jurnal Bisnis Manajemen Vol 23, No 1 (2022): March 2022
Publisher : Fakultas Ekonomi dan Bisnis Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/jbm.v23i1.903

Abstract

The rapid and massive spread of COVID-19 has a major impact on a country's economy, including ASEAN countries. This research aims to examine the impact of the COVID-19 outbreak information on exchange rate movements and currency exchange rate volatility of ASEAN-5 countries. This study employs data on the number of infection cases to measure COVID-19 information. The research period begins with the first case that occurred in each ASEAN-5 country until December 31st, 2020, using the GARCH research method. The results indicate that the COVID-19 outbreak information had a significant effect on exchange rate volatility but had no effect on the movement of the ASEAN-5 exchange rate in one day. Meanwhile, in five days, the COVID-19 information did not significantly affect the movement and volatility of the exchange rates of ASEAN-5 countries. The influence of COVID-19 outbreak information on the ASEAN-5 exchange rate, which is stronger in one day than five days supports the theory of exchange rate dynamics. This finding implies that COVID-19 information affects the exchange rate volatility of ASEAN-5 countries in the short term. For this reason, investors can be wiser in managing their investment portfolios, and regulators can implement policies to reduce volatility in the foreign exchange market.
App-Based Investment Platform and Investment Decision Making: A Study of Retail Investor Behavior in Indonesia Annisa Nuraini Tahir; Dwi Nastiti Danarsari
Eduvest - Journal of Universal Studies Vol. 3 No. 7 (2023): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v3i7.859

Abstract

The significant growth of retail investors in Indonesia between 2020 and 2022 is partly attributable to technological advancements that have made it easier to access investments through a variety of applications. Previous studies in developing nations like Indonesia, India, and Pakistan suggested that perception biases have influence on retail investor decision making. However, given the capabilities of current investing applications like the display of historical stock/mutual fund price data, retail investors should ideally be able to make more rational investment decisions. This study employs partial least square structural equation modeling (PLS-SEM) to examine the role of overconfidence, representativeness, and loss aversion biases that affect rational investment decision making. As an application feature, historical price data serves as the moderating variable of the interaction between them. The result of this study indicates that overconfidence influences rational investment decision making in a positive and significant manner, while representativeness and loss aversion do not have a significant effect. Price historical data as application feature also does not have significant effect in moderating the relationship between them.
The Influence of Company Size, Leverage, Sales Growth, and Financial Distress on Tax avoidance Moderated by Independent Commissioners in Property and Real Estate Sector Companies Listed on IDX in 2019-2022 Annisa Rianti Utami; Dwi Nastiti Danarsari
Eduvest - Journal of Universal Studies Vol. 3 No. 12 (2023): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v3i12.963

Abstract

This research aims to determine the influence of company size, leverage, sales growth, and financial distress on tax avoidance moderated by independent commissioners in property and real estate sector companies listed on the IDX for the 2019-2022 period. The independent variables in this research are company size, leverage, sales growth, and financial distress. The dependent variable in this research is tax avoidance. The moderating variable in this research is independent commissioner. This population study includes companies listed on the IDX in 2019-2022. The analysis technique used is panel data regression analysis with eviews v.10 software and Microsoft Excel. The results of this research show that company size has no significant effect on tax avoidance, leverage has a positive and significant effect on tax avoidance, sales growth has no significant effect on tax avoidance, financial distress has a negative and significant effect on tax avoidance. independent commissioners have a positive and significant effect on tax avoidance, independent commissioners can moderate company size on tax avoidance, independent commissioners are able to moderate leverage on tax avoidance. Independent commissioners cannot moderate sales growth against tax avoidance. Independent commissioners cannot moderate financial distress towards tax avoidance in property and real estate sub-sector companies listed on the IDX for the 2019-2022 period.
Households Perceptions on Factors Affecting Resilience towards Natural Disasters in Indonesia Viverita, Viverita; Kusumastuti, Ratih Dyah; Husodo, Zaäfri Ananto; Suardi, Lenny; Danarsari, Dwi Nastiti
The South East Asian Journal of Management Vol. 8, No. 1
Publisher : UI Scholars Hub

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Abstract

Most areas in Indonesia are prone to natural disasters. Learning the lessons from the Aceh Tsunami in 2004, areas with high risks of natural disasters are in the process of preparing themselves for such an unexpected event, by increasing their resilience. The objective of this study is to shed more lights on factors affecting the resilience from two sources namely, existing literatures and the application of disaster management in four disaster-prone areas in Indonesia -Padang, Sleman, Cilacap, and Palu. To enrich our analysis, we collect data from the field to compare the preparedness and to get insights on people’s perceptions towards the factors of resilience in those areas.We employ IDI and FGD to identify the factors of resilience and the preparedness in the areas investigated. Thereafter, a preliminary survey is conducted to identify people’s perceptions towards the aspects of resilience in the areas. Results from the survey conducted to 800 households in Padang and Cilacap indicates that from the social aspect, community’s value cohesiveness is one of important factor affecting their resilience towards natural disaster. In addition, since almost 85 percent of their income was spending to fulfill their daily basic needs such as foods, clothing, and housing. Therefore, when disaster occurred, they heavily relied on the help of debt or selling some of their assets, as well as used cash in hand as emergency funds. In general, respondents in all sample cities are able to re-start their economic activities as soon as two weeks after the event of disaster. In addition, the survey found that most of respondents were aware that the government has programs to educate people on the disaster mitigation.
Do Ownership Type and Ownership Concentration Affect Liquidity Creation? A Case Study of Commercial Bank in Indonesia Juwanik Juwanik; Dwi Nastiti Danarsari
International Journal of Economics Development Research (IJEDR) Vol. 5 No. 2 (2024): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v5i2.5008

Abstract

The ability to create liquidity is crucial for banks because a lack of liquidity can lead to failure. This study aims to examine the influence of ownership types and ownership concentration on liquidity creation. The study divides bank ownership types into government ownership, bank ownership, institutional ownership, non-financial company ownership, and family ownership. Additionally, ownership concentration is considered as a moderating variable and measured at various levels ranging from 25% to 85%. The research seeks to investigate whether, according to corporate governance theory, ownership concentration affects a bank's decisions in creating liquidity, and whether, according to ownership structure theory, the risk-taking behavior and agency problems of each ownership type differ, thus affecting the bank's ability to create liquidity. The sample for this study comprises 84 Commercial Banks in Indonesia. The analysis employs dynamic panel data regression, covering the period from 2018 to 2022. Based on the research findings, it is discovered that ownership concentration has a significant negative effect on liquidity creation, indicating that liquidity creation is more prevalent among less concentrated banks. Ownership type does have an effect, but not on all ownership types. Institutional ownership has a positive effect on liquidity creation, whereas bank ownership by other banks has a negative effect. Ownership by the state, family, and company does not significantly affect liquidity creation. Ownership concentration affects liquidity creation at levels below 65%, whereas at levels above 75%, there is no significant influence of ownership concentration on liquidity creation. Another finding is that liquidity creation is more prominent in smaller banks compared to larger ones.
The Influence of Foreign Ownership on Firm Value through the Percentage of Independent Commissioners, Evidence: Manufacturing Public Companies in Indonesia Riyan Dwi Saputro; Dwi Nastiti Danarsari
International Journal of Economics Development Research (IJEDR) Vol. 5 No. 2 (2024): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v5i2.5076

Abstract

This research aims to analyze the influence of foreign ownership on firm value, taking into account the role of the appointment of independent commissioners. Foreign ownership is identified as the independent variable, while firm value is measured as dependent variable. This study also considers the role of appointing independent commissioners as a supervisory mechanism to increase Firm value of the company. The research methodology utilizes financial data from companies listed on the capital market in the manufacturing sector, employing regression analysis through two stage least square (2SLS) and path analysis as the primary tool to test the relationships between variables. The research sample involves companies listed on the stock exchange, with annual data collected from 2016 to 2022. The findings of this research indicate that foreign ownership does not have a significant direct or indirect influence on firm value of manufacturing companies in Indonesia. Meanwhile, the percentage of independent commissioners plays a direct role in increasing firm value