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All Journal Digital Innovation : International Journal Of Management The Journal of Financial, Accounting and Economics Journal of Humanities, Community Service, and Empowerment
I Made Surya Negara Sudirman
Fakultas Ekonomi Dan Bisnis, Universitas Udayana, Bali, Indonesia
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Other

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 1 
Effectiveness of Momentum and Contrarian Strategies: A Systematic Literature Review Across Countries, Models, and Market Conditions Wayan Eka Heltyani; Sudirman, I Made Surya Negara
The Journal of Financial, Accounting, and Economics Vol. 2 No. 2 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i02.p04

Abstract

This study synthesizes empirical findings related to the effectiveness of momentum and contrarian investment strategies in various global stock markets during the period 1993-2023. Using a Systematic Literature Review (SLR) approach of 25 peer-reviewed scientific articles, this study analyzes the strategy characteristics, success determinants, and market context that affect the profitability of both approaches. The results show that momentum strategies are superior in the short term, especially in markets with low to medium information efficiency, while contrarian strategies are more effective in the long term, especially in markets with overreaction tendencies and retail investor dominance. The effectiveness of both strategies is highly contextual, depending on market microstructure, macroeconomic conditions, the risk model used, as well as the characteristics of market participants. Recent research trends point to the importance of adaptive strategies, such as volatility-based momentum, switching strategies, as well as the integration of behavioral factors such as investor attention. The study also identifies research gaps in cross-market validation, transaction costs, and response to geopolitical dynamics. The findings provide practical implications for investors and policymakers to develop more resilient and adaptive investment strategies.
Strengthening Governance and Innovative Work Behavior through Training and Mentoring at BUMDes Mandala Sari, Bongkasa Pertiwi Village, Abiansemal District, Badung Regency, Bali Province Surya, Ida Bagus Ketut; Riana, I Gede; Dana, I Made; Sudirman, I Made Surya Negara; Suparna, Gede; Mandala, Kastawan; Dhan, Ni Kadek Sari Jayanti; Dewi, Desak Made Pradnya
Journal of Humanities, Community Service, and Empowerment Vol. 2 No. 2 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JHCSE.2025.v02.i02.p04

Abstract

Village-owned enterprises (BUMDes) are village economic institutions that aim to optimize local potential through participatory and professional business management. In Bali Province, the existence of more than 600 BUMDes reflects the strategic role of this institution in village economic development. However, several challenges, such as weak human resource capacity, suboptimal financial governance, and low innovation, are significant obstacles. The case of BUMDes Mandala Sari in Bongkasa Pertiwi Village reflects this problem, with a decline in turnover during 2019–2022 due to the pandemic and lack of managerial innovation. This condition encouraged the involvement of the Udayana University Community Service Team to implement training and mentoring programs based on innovative work behaviour. The program implemented includes basic accounting training, application-based financial management, and innovative work behaviour counselling designed to strengthen the competitiveness of BUMDes. Mentoring was carried out during the Udayana University KKN period, involving lecturers and students to ensure that implementation runs sustainably. The results show increased accounting knowledge, managerial skills, and innovative awareness among BUMDes administrators and employees. This program is expected to become a BUMDes development model that can be replicated in other villages, especially in the digital era and changing market dynamics. Integrating work innovation and financial transparency is the key to building a competitive, professional, and sustainable BUMDes.
The Influence of Financial Literacy and Financial Technology Payment on Udayana University Management Students' Interest in Transactions Liu, Emeralda Mitsy; Sudirman, I Made Surya Negara
The Journal of Financial, Accounting, and Economics Vol. 1 No. 1 (2024)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2024.v01.i01.p03

Abstract

This research aims to determine the influence of financial literacy and the use of Financial Technology (Fintech) Payment on the transaction interest of Management students at Udayana University. This study was conducted to understand the level of students' understanding of finance and the extent of the influence of Fintech Payments in shaping their transaction interest. The survey method was used to collect data from 94 respondents who were students of the Management Study Program at Udayana University. Data analysis used statistical techniques, including multiple regression and descriptive analysis. This study shows that financial literacy and financial payment technology have a positive impact on students' interest in making transactions. It is hoped that the results of this research will provide further insight into the relationship between financial literacy, the use of Fintech Payments, and the transaction interest of Management students, which can be the basis for developing financial literacy programs and increasing acceptance of Fintech Payments among students.
The Strategic Role of Forecasting in Managerial Planning: A Scientific Literature Review Sutriana, Ria Ayu Widari; Sudirman, I Made Surya Negara
The Journal of Financial, Accounting, and Economics Vol. 1 No. 2 (2024)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2024.v01.i02.p05

Abstract

This study aims to systematically review the academic literature related to the role of forecasting in managerial planning, using the Systematic Literature Review (SLR) approach. This review was conducted on 47 articles published between 2015 and 2024, collected from reputable databases such as Scopus and Web of Science. The focus of the study includes methodological approaches, key findings, research trends, and geographical and sectoral distribution of the analyzed studies. Following the PRISMA protocol, this study successfully identified key topics such as prediction accuracy, forecasting applications in strategic decision making, and challenges in applying forecasting in a dynamic business environment. The benefits of this study include strengthening the theoretical and practical foundations in forecasting for more accurate and objective decision-making. Academics can use the study results as material for curriculum development and further research directions, while practitioners obtain guidance in strategically implementing forecasting. This study also fills the gap in the literature related to the integration of forecasting theory and practice. It contributes to educating organizations to shift from an intuitive approach to a data-driven approach in future planning.
Profitability, Leverage, and Firm Value: the Mediating Role of Dividend Policy : A Case Study of the Energy Sector Listed on the Indonesia Stock Exchange for the Period 2021–2024 Berardy Rheandri Laiman; I Made Surya Negara Sudirman
Digital Innovation : International Journal of Management Vol. 2 No. 4 (2025): Digital Innovation : International Journal of Management
Publisher : Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/digitalinnovation.v2i4.569

Abstract

This study aims to analyze the effect of profitability, leverage, and dividend policy on firm value in the energy sector listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period. The energy sector was selected due to its strategic role in the national economy and its contribution to the Composite Stock Price Index (IHSG). Out of 81 energy sector firms, 22 firms were obtained as samples using a purposive sampling method. Data analysis was conducted using the path analysis technique. The results show that profitability has a significant effect on firm value, while leverage has no effect. Dividend policy also has no effect on firm value, whereas profitability has no effect on dividend policy, and leverage has a significant negative effect on dividend policy. Furthermore, dividend policy is unable to mediate the relationship between profitability and leverage with firm value. These findings imply that firm value is more influenced by profitability factors than by leverage or dividend policy. The results of this study are expected to serve as a reference for firm management, investors, and policymakers in making future financial decisions.
Co-Authors Berardy Rheandri Laiman Dewi, Desak Made Pradnya Dhan, Ni Kadek Sari Jayanti Gede Suparna Gede Yudi Sudarmika I Dewa Gd Gina Sanjaya I Gede Riana I Gusti Bagus Wiksuana I Kadek Adi Jaya Kusuma I MADE DANA I Made Risky Adhi Artha I Wayan Sudirman Ida Bagus Ketut Surya Kadek Indah Maheswari Kastawan Mandala Liu, Emeralda Mitsy Made Rusmala Dewi S Ni Kadek Dewi Anjali Ni Ketut Purnawati Ni Made Ayunda Sukma Putri Ni Putu Devi Andrayani Ni Wayan Uri Rahayu Melastiani Steven Nathaniel Kurniawan Sutriana, Ria Ayu Widari Wayan Eka Heltyani