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All Journal Jurnal Manajemen dan Bisnis Sriwijaya Management Analysis Journal Syntax Literate: Jurnal Ilmiah Indonesia AFEBI Economic and Finance Review JURNAL AKUNTANSI, MANAJEMEN DAN EKONOMI Jurnal Scientia Dynamic Management Journal Journal of Economic, Business & Accounting Research JMUI
Rizkianto, Eko
Departement Of Management, Faculty Of Economics And Business, University Of Indonesia, Indonesia
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Mathematics Social Sciences Other

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PENGARUH RISIKO KREDIT DAN RISIKO LIKUIDITAS TERHADAP NET INTEREST MARGIN SESUAI PERTUMBUHAN EKONOMI PADA BANK UMUM DI INDONESIA PERIODE 2010 - 2017 Arief Anwar Hidayat; Eko Rizkianto
JURNAL MANAJEMEN DAN BISNIS SRIWIJAYA Vol 17, No 2 (2019): Jurnal Manajemen dan Bisnis Sriwijaya
Publisher : Program Studi Magister Manajemen FE Unsri

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (359.34 KB) | DOI: 10.29259/jmbs.v17i2.10110

Abstract

 ABSTRAK Tujuan penelitian – Penelitian ini bertujuan untuk menganalisis pengaruh risiko kredit dan risiko likuditas terdapat net interest margin sesuai pertumbuhan ekonomi pada bank umum di Indonesia periode 2010-2017. Desain/Metodologi/Pendekatan – Metode analisis yang digunakan adalah metode analisis fixed effect model GLS Temuan – Hasil penelitian menunjukkan pertumbuhan ekonomi memiliki pengaruh yang negatif terhadap net interest margin, risiko kredit memiliki pengaruh yang negatif tetapi tidak signifikan terhadap net interest margin, risiko likuiditas memiliki pengaruh yang positif terhadap net interest margin, risiko kredit sesuai pertumbuhan ekonomi memiliki pengaruh yang negatif terhadap net interest margin, risiko likuiditas sesuai pertumbuhan ekonomi memiliki pengaruh yang negatif terhadap net interest margin, interaksi risiko kredit dengan risiko likuiditas berpengaruh positif tetapi tidak signifikan terhadap net interest margin, dan interaksi risiko kredit dengan risiko likuiditas sesuai pertumbuhan ekonomi memiliki pengaruh yang negatif tetapi tidak signifikan terhadap net interest margin Keterbatasan penelitian – Penelitian ini hanya menggunakan sampel 58 bank umum konvensional, Penelitian ini tidak mengklasifikasikan tipe kepemilikan sebagai bank domestik dan bank asing dan penelitian ini hanya meneliti sebagian faktor-faktor yang mempengaruhi net interest margint. Originality/value – Penelitian ini menggunakan sejumlah variabel yaitu pertumbuhan ekonomi, risiko kredit, risiko likuiditas, risiko kredit sesuai pertumbuhan ekonomi, risiko likuiditas sesuai pertumbuhan ekonomi, interaksi risiko kredit dengan risiko likuiditas, interaksi risiko kredit dengan risiko likuiditas sesuai pertumbuhan ekonomi. Variabel kontrol pada penelitian ini adalah beban bank, modal bank, dan ukuran bank Keywords: Bank, net interest margin, pertumbuhan ekonomi, risiko kredit, risiko likuiditas
ANALYSIS OF COVID-19 PANDEMIC INFLUENCES ON NONPERFORMING LOAN IN BANK XYZ FOR THE PERIOD OF 2020-2022 Pandu Berkatindo MLA; Eko Rizkianto
Dynamic Management Journal Vol 7, No 2 (2023): April
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v7i2.8664

Abstract

This research aims to discuss the influences of the COVID-19 pandemic on nonperforming loan (“NPL”) in Bank XYZ and Bank XYZ’s strategies in responding to it for the period of 2019-2022. This research involves doing an average difference test on the Bank XYZ’s NPL between 1999-2022 and the beginning of pandemic in 2020, so that it can be determined whether the average NPL in 1999-2022 was higher than in 2020. This research was conducted by collecting data through semi-structured in-depth interviews directly to Bank XYZ’s Risk Management Directorate employees and related literature studies. The results of this research suggest that the COVID-19 pandemic had an influences on the increase in NPL at Bank XYZ in 2020, which was reflected in the rise in NPL for debtors, especially debtors with the economic sector affected by the COVID-19 pandemic. Then in 2021 with the strategies implemented, even though it is still in the COVID-19 pandemic, Bank XYZ was able to decrease NPL, when compared to three other state-owned banks and one private bank, the nominal decrease in Bank XYZ's NPL was the largest and was the only one that was below the NPL of banking industry.
THE IMPACT OF FINANCIAL RATIOS ON THE VALUE OF COMPANIES THAT CONDUCTED M&A WHICH REGISTERED IN IDX ON 2016-2021 Maria Yvette Duhita; Eko Rizkianto
Dynamic Management Journal Vol 7, No 2 (2023): April
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v7i2.8471

Abstract

This study aims to analyze the impact of the financial ratios such liquidity, solvability, turnover, profitability, and market value, economic value added and operating cash flow on the market value added of corporate mergers and acquisitions that listed in IDX from 2016 to 2021. The research informs influence of independent variables to MVA in companies that do M&A as their business strategy. The sampling technique in this study used non-probability sampling with purposive sampling method. Obtained samples of 19 public companies listed on the IDX and secondary data taken from the Indonesian Stock Exchange website. Financial performance measurement takes place five years before and after M&A. The analytical method uses panel data regression and from panel regression we found that EVA, CR, and ROE are significantly positive influenced with market value added of listed firms in Indonesia that conducted M&A. Our results indicate that earning per share significantly has negative influence to MVA; while DER and TATO are insignificantly negative influenced and OCF is insignificantly positive influenced with market value added.
FACTORS BEHIND THE EARLY SIGNS OF FINANCIAL DISTRESS IN AN INDONESIAN MEDICAL DEVICE COMPANY DURING COVID- 19: A CASE STUDY OF PT CAKRA MEDIKA UTAMA Putri Metta Suryani; Eko Rizkianto
Dynamic Management Journal Vol 7, No 2 (2023): April
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v7i2.8661

Abstract

The objective of this study is to investigate anomalous phenomena of declining financial performance as early signs of financial distress in an Indonesian medical device company, PT Cakra Medika Utama (“CMU”) for the period of 2020-2021, whereas the growth of nationwide medical device industry sector has been escalating aggregately. This explanatory study adopts mixed methods approach which analyzes quantitative and qualitative data collected through in-depth semi-structured interviews with the CEOs and its employee, observation, documentation, and literature studies. The results of this study discover that the declining financial performance were caused by mismanagement of payable and receivable, underutilizing the sales momentum, high dependency on foreign suppliers, and a weak business model. This research contributes to the company, the medical device industry, and the existing literature in understanding the causes and contributing factors behind the sinking financial performance of CMU, including some strategies to prevent the financial distress from truly happening.
Evaluasi Kinerja Keuangan Perusahaan Berbasis Laporan Keuangan, Capital Invested, dan Nilai Pasar: Kasus Perusahaan Sawit pada Periode 2015-2020 Tjut Naridha Selsa; Eko Rizkianto
Syntax Literate Jurnal Ilmiah Indonesia
Publisher : Syntax Corporation

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (419.096 KB) | DOI: 10.36418/syntax-literate.v7i3.6482

Abstract

Penelitian ini bertujuan untuk mengevaluasi performa keuangan dari tiga perusahaan sawit yang terdaftar di Bursa Efek Indonesia (BEI) sebelum dan selama masa pandemi covid-19. Evaluasi dilakukan untuk memberikan gambaran performa keuangan yang akurat dari PT Sawit Sumbermas Sarana Tbk (SSMS), PT Perusahaan Perkebunan London Sumatera Indonesia (PP London), dan PT Astra Agro Lestari Tbk (AALI) menggunakan data keuangan selama enam tahun dari 2015 hingga 2020 dengan analisis berbasis laporan keuangan, capital invested, dan nilai pasar saham. Berdasarkan analisis berbasis laporan keuangan, SSMS merupakan perusahaan dengan ROA dan ROE paling stabil sebelum dan pada masa pandemi covid-19 akibat kenaikan total asset, equity multiplier, dan net profit margin apabila dibandingkan PP London dan AALI. Kemudian berdasarkan analisis berbasis capital invested dengan MVA, seluruh perusahaan mampu memberikan wealth creation bagi pemegang saham selama periode penelitian dimana MVA tertinggi dimiliki SSMS. Sedangkan dengan EVA memberikan hasil yang kontras, yaitu AALI dengan EVA negatif, baik sebelum dan selama pandemi covid-19 yang artinya AALI mengalami penurunan nilai ekonomis perusahaan sedangkan dua perusahaan lainnya hanya mengalami EVA negatif sebelum pandemi covid-19 berlangsung, yaitu pada 2018 dan 2019. Selanjutnya, berdasarkan analisis berbasis nilai pasar dengan PER memperlihatkan bahwa AALI unggul selama periode penelitian karena harga saham yang paling tinggi setiap tahunnya dibandingkan PP London dan SSMS meskipun pada beberapa kondisi earnings nya mengalami penurunan seiring dengan kenaikan PER. Sedangkan dengan PBV, SMSS memiliki harga saham diperdagangkan lebih tinggi dibandingkan dengan nilai asetnya yang tergambar dari nilai PBV yang lebih tinggi dibanding dua perusahaan lainnya.
CAPITAL STRUCTURE AND FIRM PERFORMANCE: AN EVIDENCE OF TRANSPORTATION, LOGISTIC AND WAREHOUSE COMPANY LISTED AT IDX 2018-2022 Ayu Shafira Rachmani; Eko Rizkianto
Jurnal Scientia Vol. 12 No. 03 (2023): Education, Sosial science and Planning technique, 2023 (June-August)
Publisher : Sean Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58471/scientia.v12i03.1703

Abstract

A company needs to invest as a form of increasing the growth of the company. The capital structure in this activity is considered very important because it relates to the company's strategy in financing their investment activities so that it shows growth in company performance. This study aims to determine the effect of capital structure on the performance of transportation, logistics, and warehousing companies listed on the Indonesia Stock Exchange from 2018 to 2022. Capital structure as an independent variable is measured based on the total debt to equity ratio (DER). The use of economic value added (EVA) and market value added (MVA) as the dependent variable to describe the firm performance. Method used in this study is panel data regression considering the characteristics of the data which are time series and cross sectional which were carried out in 21 transportation, logistics, and warehousing companies in Indonesia. The results found in this study indicate that the total debt to equity ratio affect negatively on Economic Value Added (EVA). Meanwhile, the total debt to equity ratio has no effect on Market Value Added (MVA).
REVIEWING THE CAPITAL BUDGETING STUDY OF AIRPORT DEVELOPMENT PROJECT DURING COVID-19 PANDEMIC RECOVERY Galis Kurnia Afdhila; Eko Rizkianto
Dynamic Management Journal Vol 7, No 3 (2023): July
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v7i3.8829

Abstract

The Juanda Airport ranks third in terms of overall traffic among airports in Indonesia and holds the second position in passenger volume among the 15 airports managed by PT Angkasa Pura I. Between 2017 and 2021, PT Angkasa Pura I undertook investments aimed at enhancing the level of support provided to clients utilizing air transportation, through the expansion of Juanda Airport. The COVID-19 pandemic has had a significant impact on the number of passengers utilizing Juanda Airport in Indonesia, resulting in a 59.1% decrease. This decline can be attributed to the ongoing pandemic that has adversely affected the country since the start of 2020. Thus, the observed passenger flow diverged from the passenger projections employed in the project's planning. The aim of the present investigation is to perform a comprehensive examination and evaluation of the capital budgeting aspect of the Juanda Airport Investment Project. The present inquiry employs computations related to capital budgeting. These calculations include the internal rate of return (IRR), discounted payback period (PP), net present value (NPV), and profitability index (PI). The profitability of the Juanda Airport investment project has been demonstrated across three distinct financial scenarios, even in the midst of the Covid-19 recovery period.
Measuring Economic Value Added (EVA), Synergy Value, & MSMEs Upgrade Post-Acquisition: A Case Study of Ultra-Micro Holding in Indonesia Bayu Hidayat; Eko Rizkianto
Management Analysis Journal Vol 12 No 3 (2023): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v12i3.68968

Abstract

The Indonesian government assesses the urgency of the presence of a formal financial institution through the establishment of an ultra-micro holding. The formation of a holding is expected to be able to provide positive synergy and added value, which will have an impact on increasing the welfare of shareholders. The purpose of this research is to reveal the creation of corporate value through economic value added, value synergy, and MSMEs upgrade after the formation of ultra-micro holdings.The research data comes from the financial reports for the last 2 years before the formation and the last 1 year after the formation of ultra-micro holding. EVA is calculated using items that determine operational and capital costs. Calculation of synergy value using the discounted cash flow (DCF) model.The results obtained are that EVA is positive and higher than before the establishment of the ultra-micro holding, which shows management's ability to create an increase in the value of the company's assets. The resulting positive synergy reflects a successful holding process. The findings may help the company management and investors to analyze value creation and calculate the value synergies of the ultra-micro holding ecosystem.
Pengaruh Nilai ESG Dengan Kebutuhan Modal Kerja: Analisis Perusahaan Listing Indonesia Periode 2015-2020 Rahmita, Vani; Rizkianto, Eko; Prabowo, Hendro
Jurnal Manajemen dan Usahawan Indonesia Vol. 46, No. 1
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to analyze the effect of ESG score and its pillars (environmental, social, and governance score), as a proxy of sustainable companies, on working capital requirements (WCR) and cash conversion cycle (CCC) of Indonesian listing companies for the period 2015-2020. The ESG and pillar scores are obtained from the Thomson Reuters Refinitiv Eikon terminal. The research covers 29 non-financial listed companies in Indonesia in the six years with a total of 174 observations through the purposive sampling technique. This study finds that on average non-financial companies in Indonesia use a conservative working capital strategy which makes the company's working capital too large. Based on balance panel data and the robust OLS method, the result shows that ESG and its pillars can be a determinant in working capital. ESG, environmental pillars, and social pillars scores can reduce working capital requirements and shorten cash conversion cycles. Meanwhile, the governance pillar score does not affect working capital. Hence, ESG, environmental pillars, and social pillars can encourage companies to have lower working capital requirements and shorter cash conversion cycles so that companies with high ESG performance tend to use aggressive working capital strategies and turn the business operates more efficiently. Thus, ESG can lead to resource advantage and be a signal of company efficiency.
Analisis Dampak Pandemi Covid-19 kepada Tingkat dan Struktur Ketergantungan dari Imbal Hasil Saham Perusahaan Farmasi di Indonesia periode 2019-2021 Danisha, Ananda Tiara; Rizkianto, Eko; Prabowo, Hendro
Jurnal Manajemen dan Usahawan Indonesia Vol. 46, No. 2
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to analyze the impact of the Covid-19 Pandemic on the degree and structure of dependence on the stock return of pharmaceutical companies in Indonesia that are listed on the IDX linearly with the Jakarta Composite Index (JKSE) within the period of 2019-202. This study also wants to see whether there is an effect of increasing searches for "Covid" on the stock return of these pharmaceutical stocks. The study found that there was an effect on the degree of dependence of stock returns which was positive but there were no significant changes in the structure of dependence. Meanwhile, it is known that online searches do not have a significant impact on pharmaceutical stock returns during the pandemic.
Co-Authors Arga, Junior Aulia Arief Anwar Hidayat Ayu Shafira Rachmani Bayu Hidayat Danisha, Ananda Tiara Galis Kurnia Afdhila Hendro Prabowo Maria Yvette Duhita Nia Rosmiati Pandu Berkatindo MLA Putri Metta Suryani Rahmita, Vani Renatha, Gina Sitanggang, Okta Martua Tjut Naridha Selsa