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All Journal Jurnal Keuangan dan Perbankan EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Jurnal Bisnis dan Manajemen JABM JOURNAL of ACCOUNTING - BUSINESS & MANAGEMENT International Journal of Economics Development Research (IJEDR) Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Jurnal Manajemen dan Usahawan Indonesia International Journal of Islamic and Social Sciences (ISOS) Indonesian Capital Market Review The South East Asian Journal of Management Eduvest - Journal of Universal Studies Jurnal Manajemen dan Usahawan Indonesia Journal of Finance and Islamic Banking
Dwi Nastiti Danarsari
Department Of Management, Faculty Of Economics And Business Universitas Indonesia
Religion Aerospace Engineering Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Health Professions Industrial & Manufacturing Engineering Neuroscience Social Sciences Other

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Effect of Macroprudential Policy on Banks’ Profitability in ASEAN Before and During Covid-19 Tarigan, Wina Febrianti; Danarsari, Dwi Nastiti
Jurnal Keuangan dan Perbankan Vol 27, No 3 (2023): July 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i3.10283

Abstract

Regulators introduced macroprudential policies to ensure financial stability, but during the Covid-19 pandemic, many countries relaxed these policies to boost credit growth and the economy. This research examines the impact of these policies on bank profitability in six ASEAN countries from 2018 to 2021 using panel data regression. Before the pandemic, tightening policies like capital buffers, taxes, liquidity requirements, and foreign exchange limits reduced bank profitability. During the pandemic, loosening loan loss provisions and loan-to-value ratios increased profitability, while relaxing reserve requirements decreased it. DOI: 10.26905/jkdp.v27i3.10283
Which One Is The Most Important In Bank: Liquidity Or Capital Resiliency? Fatwa Aulia; Dwi Nastiti Danarsari
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Vol 12 No 3 (2024): Juli
Publisher : UNIVED Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/ekombis.v12i3.6301

Abstract

This research aims to examine the fulfillment of the Liquidity Coverage Ratio (LCR) and Capital Adequacy Ratio (CAR) of banks towards bank credit growth in Indonesia. The researchers included macroeconomic factors (GDP and BI Rate) as control variables and bank size (core capital category) to support the research testing. The influence of LCR and CAR on bank credit growth with KBMI categories 2, 3, and 4 during quarterly periods (Q4 2018 - Q2 2023) is tested using multiple linear regression. The study findings indicate that banks that enhance liquidity management by increasing the LCR can lead to a reduction in credit distribution. However, the CAR does not have a major influence on credit growth. This is because bank capital in Indonesia is very robust. The relationship between the LCR and credit growth in all KBMI categories is not significantly influenced by the core capital category of banks. In addition, the KBMI has a little impact on the correlation between CAR and credit growth in KBMI banks 2 and 3, but it does have a moderating effect on KBMI 4 banks
The Influence of Economic, Psychological, and Social Aspects on Financial Management Behavior Among Generation Z in DKI Jakarta: The Moderating Role of Income Characteristics Santoso, Azhany Rianda; Danarsari, Dwi Nastiti
Eduvest - Journal of Universal Studies Vol. 5 No. 6 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i6.50209

Abstract

This study explores the influence of economic, psychological, and social aspects on the financial management behavior of Generation Z in DKI Jakarta, emphasizing the moderating role of income characteristics. A quantitative approach was employed, utilizing a survey distributed to 248 respondents, adhering to the rule of thumb of at least 10 times the number of latent variables analyzed in Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings reveal that economic factors, including financial literacy and income management, significantly impact financial behavior. Psychological factors, such as self-efficacy and self-control, also play a pivotal role, fostering prudent financial decision-making. Social influences, including familial and peer norms, were found to shape financial habits significantly. However, income characteristics as a moderating variable exhibited mixed results. While they negatively moderated the relationship between economic factors and financial behavior, no significant moderating effect was observed for psychological and social factors. These results underscore the complex interplay between intrinsic and extrinsic influences on financial management within an urban, fast-paced setting like Jakarta. The study highlights the necessity of comprehensive financial literacy programs tailored to the unique needs of Generation Z. Moreover, the findings suggest practical strategies for educators, policymakers, and financial institutions to enhance financial independence and resilience among young urban dwellers.
The Influence of Social Media Usage and User Intention on QRIS Adoption Strategy in Mobile Banking with Trust as a Mediating Variable on MSMEs Business Actors Giofani, Fachrizal; Danarsari, Dwi Nastiti
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 3 (2025): Dinasti International Journal of Economics, Finance & Accounting (July-August 2
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i3.4755

Abstract

This study analyzes the influence of Social Media Usage and Intention to Use on the adoption of QRIS in mobile banking by Micro, Small, and Medium Enterprises (MSMEs), with trust as a mediating variable. The study is motivated by the growing need for digital financial services and the role of QRIS as a standard for an efficient and inclusive national payment system. A quantitative approach was used by distributing questionnaires to MSMEs in Jabodetabek. Using the Slovin formula with a population of 32.7 million QRIS merchants (as of June 2024), a minimum sample of 100 was determined. After data cleansing to remove invalid or outlier responses, 85 valid responses were analyzed using Structural Equation Modeling (SEM). The results show that Social Media Usage and Intention to Use do not directly affect QRIS adoption, with T statistics of 0.860 (p = 0.390) and 1.496 (p = 0.135), and path coefficients of 0.088 and 0.165, respectively. However, both significantly influence trust (T = 5.298 and 5.729, p = 0.000), with path coefficients of 0.442 and 0.489. Trust significantly affects QRIS adoption (T = 7.072, p = 0.000, coefficient = 0.881). Indirectly, Social Media Usage and Intention to Use impact adoption through trust (T = 5.041 and 3.915, p = 0.000), with coefficients of 0.390 and 0.431. These findings highlight trust as a key driver of QRIS adoption, suggesting that digital communication strategies via social media can enhance trust and promote fintech adoption among MSMEs.
The Impact of Digital Transformation and Income Diversification on Banking Stability in Asean-5 Emerging Countries Oktafianti, Putri Adellia; Danarsari, Dwi Nastiti
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 4 (2025): Dinasti International Journal of Economics, Finance & Accounting (September - O
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i4.4798

Abstract

This research aims to analyse the impact of digital transformation and income diversification on banking stability in the ASEAN-5 emerging countries for the period 2014-2023. In recent years, banks are dealing with digital transformation to enhance operational efficiency and offer more innovative financial services, while diversifying revenue through non-interest income sources to reduce their reliance on interest income, which is vulnerable to fluctuations in interest rates. The research employed a purposive sampling method for a sample of 80 institutions in the ASEAN-5 emerging countries (Indonesia, Malaysia, Philippines, Thailand, and Vietnam) that fulfilled certain criteria. The estimation method employed is panel data regression utilizing the Dynamic System Generalized Method of Moments (GMM) —which allows researchers to address endogeneity issues in the relationships between variables— to examine the constructed model. The research results indicate that digital transformation has a negative impact on bank stability and takes time to show its positive impact. This result shows that the adoption of technology requires a significant investment at the beginning of implementation, but over time it will enhance bank's financial stability. Second, low-income diversification tends to decrease bank stability due to reliance on a single source of income, and when banks reach a certain level of income diversification, their stability will increase due to risk spreading. Finally, the moderating effect of income diversification on the relationship between digital transformation and bank stability, indicates that stability significantly increases when banks reach certain levels of income diversification and digital adoption.
The Impact of Income Diversification and Liquidity Risk on Stability of Conventional Banks In Indonesia Gustama, Abi; Danarsari, Dwi Nastiti
Eduvest - Journal of Universal Studies Vol. 5 No. 9 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i9.51344

Abstract

This study aims to analyze the effect of income diversification and liquidity risk on the stability of conventional banks in Indonesia, the research of banks listed on Indonesia Stock Exchange during the periode 2014 – 2023 and using panel data regression methods. The results indicate that income diversification has a significant negative effect on bank stability. However, the moderating factors of KBMI 3 and KBMI 4 are able to strengthen the relationship between income diversification and bank stability. Liquidity risk doest not affect bank stability, While KBMI 1 and KBMI 4 are found waken the impact of liquidity risk on stability. In Contrast KBMI 2 strengthen effect of liquidity risk on bank stability. Banks need to carefully consider banking activities in diversifying income an take into account tier capital 1 in mitigating liquidity risk. KBMI as a moderating both income diversification and liquidity risk. To the best of the author's knowledge, KBMI as a moderating variable in the relationship between income diversification and liquidity risk has not been previously examined. The implication of this study highlights the importance of regulatory oversight regarding risk exposure arising from income diversification and the optimization of liquidity within each KBMI category.
Analyzing The Nexus Between Digital Financial Inclusion, Economic Growth, and Environmental Sustainability Impact in ASEAN Region Taufik, Nukman; Danarsari, Dwi Nastiti
Journal of Finance and Islamic Banking Vol. 8 No. 1 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i1.11815

Abstract

Purpose: This study aims to examine the impact of digital financial inclusion—proxied by debit card usage and ATM availability—on both economic growth and environmental sustainability across 11 ASEAN member countries during the period from 2010 to 2023. Method: Using panel data regression analysis, the study employs the Feasible Generalized Least Squares (FGLS) estimation method to analyze the relationship between financial inclusion, economic growth, and carbon emissions. Results: The analysis reveals a positive and significant relationship between debit card penetration and economic growth, suggesting that greater digital financial access contributes to economic performance. Conversely, the relationship between ATM availability and economic growth appears inconsistent. Implication: These findings underscore the need for policymakers, financial regulators, and development agencies to design financial systems that not only promote growth but also incorporate environmental safeguards. Originality: This research contributes to the literature by integrating digital financial inclusion metrics within an EKC framework to simultaneously evaluate economic and environmental outcomes in developing economies.
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 Utami, Annisa Rianti; Danarsari, Dwi Nastiti
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.
Assessing the Impact of Leverage Ratio on Banking Efficiency in Indonesia Lily, Kelvin; Danarsari, Dwi Nastiti
Eduvest - Journal of Universal Studies Vol. 4 No. 10 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i10.1358

Abstract

This study analyzes the significance of the leverage ratio on the efficiency of banking companies with the aim of assessing the readiness and suitability of banking companies in facing the implementation of Basel 4 or Basel 3.1. Data from 47 banking companies in Indonesia from the period 2008 to 2023 were used as material for this study. The data used in the research were analyzed using the Dynamic Stochastic Frontier (DSF) method. This method allows for more accurate efficiency analysis by avoiding assumptions of technology at different times. The researchers hypothesize that banking companies with a leverage ratio level higher than the minimum limit applied in BASEL have better efficiency, and the results of this study show corresponding results within the leverage ratio limit of 20%.
Impact of the Covid-19 Pandemic on Stocks Market Performance of Service Industry in Indonesia Rizfathanty, Soraya; Danarsari, Dwi Nastiti
Eduvest - Journal of Universal Studies Vol. 4 No. 8 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i8.1482

Abstract

In March 2020, Corona Virus Disease (COVID-19) was officially declared a pandemic. As a result, the economic and financial sectors, especially business activities that involve interactions between people severe due to the physical distancing policy. Several studies have analyzed the impact of the pandemic on the economic and financial sectors, but none have specifically discussed the impact on the service sector, especially in Indonesia. This study aims to analyze the impact of COVID-19 on abnormal returns and abnormal volume of stocks in the service industry in Indonesia. Using the event study method, three business sectors most affected by COVID-19 in the service industry are investigated. Impact of the company's internal factors on the cumulative abnormal return is also examined using the robust least square regression method. This study finds a negative stock market reaction to the pandemic and social distancing announcement, and positive reaction for announcement of national economic recovery program and reopening economic activity with health protocol. All events had a negative impact on the abnormal volume of the stocks. Finally, either size or liquidity is found to be a significant driver of abnormal returns.
Co-Authors Annisa Nuraini Tahir Batubara, Satya Rifansyah Dwi Anggi Novianti Fatwa Aulia Giofani, Fachrizal Gustama, Abi Husodo, Zaafri Ananto Juwanik Juwanik Lenny Suardi Lily, Kelvin Muhammad Rifki Adiyat Novianti, Dwi Anggi Nukman Taufik Oktafianti, Putri Adellia Ratih Dyah Kusumastuti Retno Ariani Riyan Dwi Saputro Rizfathanty, Soraya Santoso, Azhany Rianda Setiadi, Robertus Setyo Nugroho Setyo Nugroho Suardi, Lenny Tarigan, Wina Febrianti Utami, Annisa Rianti Viverita Viverita Zaafri A. Husodo