Article Per Year (5 Year)
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This Author published in this journals
All Journal Journal of Business and Management Journal of Regional and City Planning Journal of Accounting and Investment Jurnal Manajemen Indonesia Syntax Literate: Jurnal Ilmiah Indonesia Journal of Economic, Bussines and Accounting (COSTING) Sebatik Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan International Journal of Supply Chain Management EQIEN - JURNAL EKONOMI DAN BISNIS IJIES (International Journal of Innovation in Enterprise System) Journal of Islamic Monetary Economics and Finance Jurnal Ilmu Sosial Politik dan Humaniora (Jisora) JAF- Journal of Accounting and Finance JATI EMAS (Jurnal Aplikasi Teknik dan Pengabdian Masyarakat) Dynamic Management Journal Indonesian Journal of Sport Management International Journal of Social Service and Research Journal Of World Science Jurnal Manajemen dan Kewirausahaan Literacy : International Scientific Journals of Social, Education, Humanities Journal Research of Social Science, Economics, and Management Cerdika: Jurnal Ilmiah Indonesia Journal Integration of Social Studies and Business Development Jurnal Akuntansi, Manajemen, dan Perencanaan Kebijakan Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Journal Integration of Management Studies Widya Cipta : Jurnal Sekretari dan Manajemen
Raden Aswin Rahadi
Institut Teknologi Bandung
Agriculture, Biological Sciences & Forestry Arts Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Public Health Social Sciences Transportation Other

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Corporate Strategy Configuration, Financial Performance, and Real Estate Asset Quality as Determinants of Market Valuation: Evidence from Indonesian Listed Property Developers Saza Taupiq Ahmad; Raden Aswin Rahadi
Jurnal Akuntansi, Manajemen, dan Perencanaan Kebijakan Vol. 4 No. 1 (2026): September
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jampk.v4i1.1253

Abstract

Indonesian listed property developers with significant presence in Greater Jakarta have experienced a persistent decline in market valuation between 2015 and 2025, a pattern that predates and outlasted the Covid-19 shock and cannot be attributed to weak physical property demand, which remained resilient throughout the period. This study investigates the determinants of this valuation gap through an integrated framework combining Corporate Strategy Configuration, Financial Performance, and Real Estate Asset Quality as direct and moderating predictors of market valuation, alongside macroeconomic and firm-specific conditions (Bank Indonesia interest rate, inflation, the Covid-19 period, company size, and divestment activity). Using an eleven-year panel of 13 purposively sampled listed property developers with a one-year lagged structure, the study applies Partial Least Squares Structural Equation Modelling (SEM-PLS) together with Multi-Group Analysis (MGA) across firm-size and revenue-model subgroups, triangulated with three expert interviews. The model explains a substantial share of variance in valuation (R² = 0.566, adjusted R² = 0.533). Corporate Strategy Configuration, Company Size, Divestment Activity, Inflation, and Covid-19 emerge as significant direct predictors, while Financial Performance, Real Estate Asset Quality, and the BI Rate do not. Both moderation paths are non-significant, indicating that Asset Quality functions as an independent valuation signal rather than a conditioning mechanism. MGA results show that valuation dynamics differ significantly by revenue-model orientation, with the model explaining valuation considerably better for sales-oriented developers than for recurring-income developers, and more narrowly by firm size, where Asset Quality and Inflation are priced differently across large and medium developers. The findings indicate that the Indonesian property-developer valuation discount is driven principally by scale, strategic financing posture, and revenue-model orientation rather than by asset accumulation or macroeconomic conditions alone, offering an evaluative framework for investors, actionable guidance for management, and evidence that capital-market interventions targeted at medium-sized, sales-oriented developers may be more effective than broad monetary measures in supporting Indonesia's housing agenda
Evaluating the Socio-Economic Effects of Fly Ash and Agricultural Waste on the Construction Sector Irwanda Laory; Januarti Jaya Ekaputri; Andri Kusbiantoro; Raden Aswin Rahadi; Davin H. E. Setiamarga; Augusta Adha; Kurnia Fajar Afgani
Journal Integration of Management Studies Vol. 2 No. 2 (2024)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v2i2.232

Abstract

The building industry significantly impacts environmental degradation due to its reliance on conventional materials such as cement and concrete, which are associated with high carbon emissions and substantial energy consumption. This study explores the socio-economic impacts of substituting fly ash and agricultural waste for traditional construction materials. A comprehensive review of 50 peer-reviewed papers, industry reports, and online sources reveals that these alternative materials offer considerable benefits. Cost savings average between 15% and 20%, driven by reduced material costs and lower disposal requirements. Environmentally, using fly ash and agricultural waste significantly reduces greenhouse gas emissions, with fly ash cutting emissions by approximately 25% and agricultural waste by about 20%, primarily due to decreased energy consumption. Furthermore, technical assessments show that these materials enhance the strength and durability of concrete, meeting or exceeding conventional standards. The study also highlights broader socio-economic advantages, including support for rural economies through new markets for agricultural by-products and job creation in recycling and construction sectors. These findings suggest integrating fly ash and agricultural waste into construction practices can positively impact economic growth and environmental sustainability. However, the study acknowledges limitations such as reliance on secondary data and potential geographic biases. Future research should prioritize original data collection, long-term performance assessments, and investigation of regional material-use variations. This study underscores the practical and environmental benefits of incorporating these sustainable materials, contributing to a more eco-friendly construction industry.
The Logistics Financier as a Strategic Orchestrator: Simulating Supply Chain Finance to Unlock Profitability in State-Owned Logistics Poeti Ria; Raden Aswin Rahadi
Journal Integration of Management Studies Vol. 4 No. 1 (2026): Article In Press
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v4i1.425

Abstract

As the logistics industry undergoes rapid transformation, companies are evolving beyond their traditional role of transporting goods to become orchestrators of capital and information flows. While Supply Chain Finance (SCF) is widely recognized for optimizing working capital, its application in state-owned enterprises (SOEs) remains underexplored, particularly due to regulatory restrictions prohibiting direct lending. Addressing this gap, this study proposes an adaptation of the Logistics Financier orchestration model tailored for an Indonesian state-owned logistics enterprise currently experiencing a liquidity shortfall of IDR 4.3 billion. Employing an exploratory sequential mixed-method design, this research integrates expert interviews to construct model parameters and utilizes Monte Carlo simulation to assess financial robustness. The simulation reveals that a holistic SCF approach—integrating Purchase Order (PO) Financing and Reverse Factoring—can effectively bridge a funding gap of IDR 39 billion and generate an expected net profit of IDR 12.8 billion. However, a critical finding indicates negative profitability (-1.62%) within the Government segment, highlighting a theoretical misalignment between market-driven SCF tools and bureaucratic governance structures. This study contributes to SCF literature by conceptualizing the orchestrator’s role as a financial intermediary and empirically demonstrating that SCF serves as a high-sensitivity value amplifier. Its effectiveness depends on institutional context and strict operational discipline.
Co-Authors Adam Aliya Silmi Ade Iusticia Putra Adhyma, Irsyad Vawzan Afgani, Kurnia Fajar Afti Insani Nurmahmudiyah Alexius Reinaldo Hartadi Budiman Alfita Puspa Handayani Andri Kusbiantoro Ang Dung Do Anggoro, Yudo Annisa Rahmani Qastharin Annisa Ratna Nurillah Aqila Ayu Prasetyaningrum Asep Bagja Nugraha Asep Darmansyah Astari, Airen Widhia Augusta Adha Aulia Dwi Ikhwan Ayudiatri, Safira Bagus Aditya Nugraha Belgiawan, Prawira Fajarindra Budiman, Bentang Arief Colin Gan Cheong Kiat Colin Gan Cheong Kiat, Dr. Danyaa Allya Salsabilla Davin H. E. Setiamarga Dayuwati, Galia Surya Dematria Pringgabayu Desy Kharohmayani Eko Susanto Erman Sumirat Erman Sumirat Ertanto Vetra Fitria Rahayu Khaerani Fitrianda, Saldy Gabriella, Milka Halim, Robbyson Hari Purnama Harris Kristianto Yondi Husna Nugrahapraja Ima Mulyama Zainuddin Indrayana, Gun Gun Irawan, Atika Irshad Adriatama Irwanda Laory Iwan Nurfahrudin Januarti Jaya Ekaputri Johan Anindito Indriawan Lazuardi Kitri, Mandra Lincoln Ramadhani Parmonangan Maria Dellarosawati Idawicaksakti Masango Matimura Masango Matimura, Mr. Mayangsari, Lidia Mega Fitriani Adiwarna Prawira Monica Dianrosawati Itaratnasari Muhammad Abdur Rasyid Muhammad Arief Waliyuddin Muhammad Galing Ganesworo Muhammad Naufal Syafrun Muhammad Reza Priansyah Muhammad Rizatha Muhammad, Zikri Nasrul Syahruddin Natas Setiabudhi Daryono Putra Natas Setiabudhi Daryono Putra Nikma Fista Safrina Nita, Arfenia Octaviani Ratnasari Santoso Poeti Ria Purbayati, Radia Putri Pradana, Dian Rahmatsyah Putranto, Nur Arief Ravenza, Rafi Reyhan Devtyan Muhammad Reza Ashari Nasution Rindia Maharani Putri Rivary Finan Hernawan Rivary Finan Hernawan Salma Fadhilah Widityani Sandy Akbar Nusantara Saza Taupiq Ahmad Septyandi, Chandra Budhi Setiawan, Suganta Handaru Shanaya Ratu Shafira Sri Aswin Suryani Subiakto Sukarno Sudarso Kaderi Wiryono Suganta Handaru Setiawan Syifaa Novianti Taufik Faturohman Uke Marius Siahaan Wervyan Shalannanda Yulianti Yulianti Yunieta Anny Nainggolan, Yunieta Anny