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Exploring The Impact of Ratio-Based Financial Behavior on the Financial Performance: Evidence from Micro, Small, and Medium Enterprises (MSMEs) Indria Widyastuti; Umi Widyastuti; Etty Gurendrawati
Jurnal Akuntansi Dan Keuangan West Science Vol 5 No 03 (2026): Jurnal Akuntansi dan Keuangan West Science
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/jakws.v5i03.3931

Abstract

Previous studies have generally used the concept of financial behavior as a determinant of MSME financial performance, but this study employs a different concept, namely financial behavior based on financial ratios. This means that financial behavior is not merely understood as general money management practices but is objectively measured through financial ratio indicators such as: Liquidity Ratio, Debt Ratio, Profitability Ratio. Most studies on MSMEs measure financial variables using respondents’ perceptions, however these approaches have weaknesses, including perceptual bias, social desirability bias, and low objectivity. In contrast, this study uses financial ratio indicators as a proxy for financial behavior. Consequently, the measurement becomes more objective, empirically measurable, and academically robust. The research method used was explanatory quantitative research employing a cross-sectional survey approach with the aim of testing the causal relationship between ratio-based financial behavior and the financial performance of MSMEs receiving microfinance. Overall, this study found that Ratio-Based Financial Behavior is a strategic factor that bridges the gap between access to microfinance and improved financial performance of MSMEs. These findings reinforce the view that the success of MSMEs depends not only on the availability of capital, but also on the business owners’ ability to effectively use financial information to manage, evaluate, and develop their businesses.
PERSONAL DATA PROTECTION IN INDONESIA'S PEER-TO-PEER LENDING; A BIBLIOMETRIC ANALYSIS Panji Patra Anggaredho; Rida Prihatni; Etty Gurendrawati
JRMSI - Jurnal Riset Manajemen Sains Indonesia Vol. 16 No. 1 (2025): Jurnal Riset Manajemen Sains Indonesia
Publisher : Fakultas Ekonomi, Universitas Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21009/JRMSI.016.1.2

Abstract

The rise of Peer-to-Peer (P2P) Lending in the financial ecosystem has introduced a digital credit disbursement mechanism characterized by simplicity and a fast process. However, P2P Lending has faced criticism, frequently accused of misusing customer data, particularly privacy violations during loan collection processes. Due to the ongoing issues with personal data protection in Indonesia’s P2P Lending industry, further studies on this topic are necessary. Moreover, previous studies have shown that no bibliometric analysis of personal data protection in P2P Lending in Indonesia has been conducted, which prompted us to address this gap. In conducting the bibliometric analysis, we reviewed articles published between 2018 and 2023 on Google Scholar. For the selection of articles, we used the Publish or Perish application, resulting in a final sample of 99 articles. This study concluded that the keyword "protection" is frequently associated with information, problem, benefit, trust, implementation, user, platform, and information security. Another finding shows that the subject of this study has increased since 2020 and remains highly relevant for further study. Furthermore, the subject of this study includes keywords that are rarely discussed, such as MSMEs (Micro, Small, and Medium Enterprises) and inclusion, indicating that future study could explore these two topics further.
PENGARUH ESG SCORE DAN GREEN INNOVATION TERHADAP MARKET VALUE OF EQUITY PADA PERUSAHAAN SEKTOR ENERGI YANG TERDAFTAR PADA BURSA EFEK INDONESIA TAHUN 2020-2024 Hasanudin Hasanudin; Gatot Nazir Ahmad; Etty Gurendrawati
Jurnal Riset Bisnis Vol. 10 No. 1 (2026): Mei - Oktober 2026
Publisher : Fakultas Ekonomi dan Bisnis Universitas Pancasila Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65179/s35qg440

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh parsial dan simultan dari skor Lingkungan, Sosial, dan Tata Kelola (ESG) dan inovasi hijau terhadap nilai pasar ekuitas perusahaan sektor energi yang terdaftar di Bursa Efek Indonesia (IDX) pada tahun 2020–2024. Studi kausal-eksploratif ini menerapkan teori pemangku kepentingan dan pandangan berbasis sumber daya. Data yang digunakan adalah data panel dari 28 perusahaan sampel dengan 140 observasi yang dianalisis dengan teknik Fixed Effect Model (FEM) yang telah dikoreksi. Hasil penelitian menunjukkan bahwa pengungkapan skor ESG tidak secara signifikan memengaruhi nilai pasar ekuitas, menunjukkan bahwa transparansi narasi keberlanjutan belum mendapat respons luas dari investor sektor energi. Di sisi lain, implementasi inovasi hijau memiliki pengaruh positif dan agak substansial, yang berarti bahwa pasar menganggap penerapan aktual teknologi ramah lingkungan sebagai kemampuan strategis untuk mengurangi risiko non-finansial. Selain itu, pengungkapan ESG dan inovasi hijau memiliki dampak yang cukup besar terhadap nilai pasar ekuitas secara bersamaan. Pelaporan ESG saja bukanlah pendorong pasar terbaik, tetapi kombinasi transparansi tata kelola dan investasi inovasi hijau dapat mengirimkan sinyal positif yang kuat kepada investor dan meningkatkan nilai pasar ekuitas perusahaan.