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IPO Performance Prediction During Covid-19 Pandemic in Indonesia Using Decision Tree Algorithm Arianto Muditomo; Ajar Susanto Broto
Jurnal Keuangan dan Perbankan Vol 25, No 1 (2021): January 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i1.5137

The purpose of this study was to explain the IPO underpricing phenomenon and to find out whether the decision tree algorithm model was able to predict the IPO performance during the Covid-19 pandemic in the Indonesian capital market. The model developed uses the IPO performance classification target variables, namely overpricing, zero, underpricing level-1 or underpricing level-2. Through the modeling of the decision tree algorithm using 149 IPO action data for 2017-2019 and tested on 45 IPO action data in 2020, the results of the study found that the decision tree algorithm was able to explain IPO performance based on the specified classification range. The use of the decision tree algorithm model to explain the IPO performance can be an alternative to the linear regression econometric model that has been widely used in previous studies to provide input for investors in making investment decisions.DOI: https://doi.org/10.26905/jkdp.v25i1.5137

IPO Under-pricing Phenomenon Approach: Does Covid-19 Has a Negative Sectoral Impact? Rini Dwiyani Hadiwidjaja; Arianto Muditomo; Yanuar Trisnowati
Journal of Accounting and Strategic Finance Vol 4 No 2 (2021): JASF (Journal of Accounting and Strategic Finance)
Publisher : UNIVERSITAS PEMBANGUNAN NASIONAL VETERAN JAWA TIMUR

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jasf.v4i2.198

An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. An IPO allows a company to raise capital from public investors. This study aims to prove the sectoral impact of the Covid-19 pandemic in Indonesia. Qualitative identification through content analysis on public online media and report documents on the results of analysis by research institutes and consultants identifies potential negative impacts on several industrial sectors as a result of the Covid-19 pandemic throughout 2020, but on the other hand, IPO action on the Indonesian capital market in 2020 still ongoing. Previous research has not been found specifically that analyzes the relationship between the impact of Covid-19 on industry and the performance of IPO actions per industrial sector, then through the IPO under-pricing phenomenon approach, empirical evidence is carried out. This research uses secondary data for the initial returns of 315 companies that conducted IPO actions during the period 2010 to 2020 on the Indonesian capital market and testing using a paired sample test on the population of IPO actions before and during the Covid-19 pandemic, the results of this study indicate that simultaneously in all the corporate sector did not find any statistically significant difference in initial returns between the period before and during the pandemic. This shows that the Covid-19 pandemic does not directly impact the behavior of capital market investors, especially in making investment decisions in the primary market.

COVID-19 and Stock Market Reaction in Indonesia Yanuar Trisnowati; Arianto Muditomo
Journal of Accounting and Investment Vol 22, No 1: January 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: COVID-19 Pandemic happens all over the world. Pandemic impact hits almost all elements of life, one of the affected real sectors is finance especially the stock market. This research is aimed to present the reaction of the equity market in Indonesia towards the COVID-19 pandemicDesign/Methodology/Approach: The research method that is used is the study to examine market reaction towards the pandemic and abnormal return around the occurrence by using two methods; mean-adjusted abnormal return and market model.Research findings: From the research conducted over the 10 indicators of the stock market index in Indonesia, it is concluded that 8 industrial sectors that have tenacious reaction toward the COVID-19 pandemic hit in Indonesia, where it is also found that the agriculture sector; basic and chemical industry; miscellaneous, consumer goods; property and real estate; transport and infrastructure; finance; trade, service, and investment, give stronger reactions compared with mining and manufacture.Theoretical contribution/Originality: Researches about the stock market reaction to the non-economy phenomenon have already been carried out, but the research that is specifically done to study sectoral index reaction towards the non-economy occurrences is still wide open to doing for deeper research.Practitioner/Policy implication: This research can be important information for investors to understand the behavior of stock market efficiency in Indonesia in making decisions of investmentResearch limitation/Implication: Non-economy event that becomes the subject of research is the COVID-19 pandemic that appeared and escalated fast all over the world. The researcher conducted the research and presented it as quickly as possible since the time is limited. It is meant to show a systematic and scientific thinking framework in addressing the non-economy events, but still in the context of reliability on the result of research to the same topic about the COVID-19 effect in other countries.

Conceptual Model for SME Digital Transformation during The Covid-19 Pandemic Time in Indonesia: R-Digital Transformation Model Arianto Muditomo; Indra Wahyudi
BASKARA : Journal of Business and Entrepreneurship Vol 3, No 1 (2020): Baskara: Journal of Business and Entrepreneurship
Publisher : Universitas Muhammadiyah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54268/baskara.3.1.13-23

Digital transformation is one that has been accelerated in response to the COVID-19 pandemic that has hit the world since the end of 2019. As a sector that has proven reliable in facing the SME crisis, it is encouraged to accelerate its digital transformation process due to the distance limitation policy imposed during the pandemic. This article aims to assess the importance of understanding the right digital transformation model for each SME, especially in taking advantage of the accelerated momentum due to the social restriction policies imposed during the COVID-19 pandemic, because choosing the right model will provide a better probability of successful transformation. This research is qualitative research through content analysis to produce a theoretical model construction of the digital transformation model for SMEs in Indonesia which we call the reasonable digital transformation model for SME (R-DT for SME). The conclusion obtained is that based on the mapping of the digital transformation of SMEs in Indonesia on the R-DT model, it can be concluded that: (1) The main trigger for DT UKM is the external driver, not many internal drivers have been found, especially during the COVID-19 pandemic. what is done is still reactive in nature and tends to only follow the steps of the transformation of other actors so as not to create a uniqueness of the said SMEs which will result in the loss of opportunities to have a competitive advantage over competitors; (2) In general, the implementers of DT UKM have set a strategic imperative for their decision to carry out digital transformation, but have not set a measurable milestones so that the digital transformation carried out cannot be measured the level of success; (3) DT which is done in general is to change some of the company's operations to digital, this shows the low digital maturity of SMEs in Indonesia today.

Model Alternatif Nowcasting di Indonesia Arianto Muditomo
BASKARA : Journal of Business and Entrepreneurship Vol 2, No 2 (2020): Baskara: Journal of Business and Entrepreneurship
Publisher : Universitas Muhammadiyah Jakarta

Kondisi ketidakpastian dan volatilitas perekonomian di awal tahun 2020 diluar perkiraan dan perhitungan pelaku ekonomi. Wabah pandemi Covid-19 merubah wajah perekonomian global. Model-model ekonomi yang telah dikembangkan sebelumnya tidak lagi secara independent mampu memprediksi indikator-indikator perekonomian secara akurat. Salah satu indikator perekenomian yang patut dicermati kerena mampu memberikan indikasi kesejahteraan bangsa adalah konsumsi rumah tangga dan investasi. Artikel ini bertujuan untuk menyajikan sebuah model alternatif indikator nowcasting konsumsi rumah tangga dan investasi yang dapat digunakan sebagai input bagi model makroekonomi di Indonesia. Metodologi penulisan artikel ini adalah tinjauan kritis atas penelitian sebelumnya yang memberikan masukan model makroekonomi Indonesia sebagaimana rutin dilakukan Bank Indonesia dan tinjauan pusataka dari penelitian lain terkait. Hasil tinjauan kritis ini merupakan penjelasan atas model alternatif konsumsi rumah tangga dan investasi di Indonesia yaitu berhasil membuktikan bahwa perbandingan akurasi model untuk nowcasting indikator konsumsi rumah tangga dan indikator investasi menunjukkan bahwa kesalahan perkiraan yang dihasilkan Dynamic Factor Model (DFM) adalah lebih kecil dari kesalahan perkiraan yang dihasilkan model Bridge Equation dan ARIMA.

Digital Transformation of Small Medium Enterprises: A Descriptive Analysis of Quick Response Indonesia Standard Data Arianto Muditomo; Novita Setyawati
Jambura Equilibrium Journal Vol 4, No 2 (2022): Vol 4. No. 2. July 2022
Publisher : Gorontalo State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37479/jej.v4i2.13918

The purpose of this study is to explain the digital transformation of Indonesian micro and medium enterprises (SMEs) through descriptive data analysis on the implementation of the Indonesian quick response standard (QRIS) through the end of 2021. The implementation of QRIS in Indonesia increases literacy and electronic financial inclusion among Indonesian SMEs, attempting to make it easier for the government to conduct better monitoring of SME transactions. The development of QRIS, which began in 2019, has proven to be capable of improving the documentation of digital financial inclusion of SMEs with 14.78 million merchants, the majority of whom are SME merchants, specifically micro business merchants (UMI), small business merchants (UKE), and medium business merchants (UME). Similarly, SMEs dominate in terms of volume and nominal transactions. This descriptive analysis will provide an overview of the evolution of SME digitization in Indonesia, which market players and regulators can use to develop policies and strategies for the future of SMEs.

POSSIBILITY OF USING MACHINE LEARNING ALGORITHMS TO MODERNIZE AGRICULTURAL RESEARCH IN INDONESIA Arianto Muditomo; Syamsari Syamsari
Journal of Agricultural and Rural Economy Vol. 1 No. 1 (2023)
Publisher : Intitut Teknologi Pertanian

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11594/agre.2023.v1i1.8-16

Even though many researchers and campuses have agricultural technology study programs, various technological and agricultural research in Indonesia still needs to be fully integrated. The author believes that technological advancements, particularly in Artificial Intelligence and Machine Learning, provide substantial advantages in various industries, including agriculture. This paper will examine the opportunities for using machine learning algorithms in precision agricultural research to inspire Indonesian agricultural researchers.

Optimization of Profit-Sharing Financing at Islamic Banking in Indonesia Riyadi, Selamet; Iqbal, Muhammad; Pangastuti, Annisa Arifah; Muditomo, Arianto
Jurnal Keuangan dan Perbankan Vol 25, No 2 (2021): April 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i2.5212

The purpose of this study is to identify factors that can encourage an increase in profit- sharing financing. These factors are third-party funds in the form of mudharabah deposits, non-performing financing, equivalent rate, operational efficiency ratio, economic growth, and inflation. The research method uses a co-integration and error correction model (ECM) with a sample of the Islamic banking industry in Indonesia from the first quarter of 2015 to the third quarter of 2020. The results show that the factors that encourage profit-sharing financing are the growth of third-party funds in the form of mudharabah deposits, non- performing low funding, low equivalent rate, operational efficiency, and economic growth. These factors are the key to driving the growth of profit-sharing financing. This research contributes to providing various alternative strategies in encouraging the growth of profit- sharing financing, such as increasing retained earnings from profit, providing attractive profit-sharing incentives, transparency of financial reports to attract people to invest in Islamic banks, prevention and supervision of non-performing financing, be careful in determining the ratio by taking into account several internal and external aspects, as well as paying attention to the movements of existing economic growth. DOI : https://doi.org/10.26905/jkdp.v25i2.5212

Implementasi Metode Preference Selection Index Dalam Penentuan Jaringan Dan Pemanfaatan Internet Pada Provinsi Indonesia Dewantara, Rizki; Cakranegara, Pandu Adi; Wahidin, Ahmad Jurnaidi; Muditomo, Arianto; Sudipa, I Gede Iwan
J-SAKTI (Jurnal Sains Komputer dan Informatika) Vol 6, No 2 (2022): EDISI SEPTEMBER
Publisher : STIKOM Tunas Bangsa Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30645/j-sakti.v6i2.527

The era of digital society is strongly supported by the development of information and communication technology, along with the use of the internet by the community, making the digital era help every community activity. The progress of internet development in Indonesia cannot be separated from the distribution of network infrastructure in all urban (urban) and rural (rural) areas in all provinces in Indonesia. Based on data from the Central Statistics Agency (BPS) for the period 2017 - 2020, this study aims to determine which of the 34 provinces in Indonesia are provinces that have a strong and stable internet network in urban and rural areas, as well as regions in Indonesia whose people are significantly utilizing the use of the internet in their daily activities in both urban and rural areas. The selection process uses eight assessment criteria from aspects of the expansion and distribution of internet network quality and internet utilization for rural and urban communities in the province of Indonesia. In this study, the method of solving the problem of multi-criteria decision-making is the Preference Selection Index (PSI) method. The results of the final calculation of the PSI method from 34 alternatives determine the five best provinces for expanding the internet network and internet utilization in 2020, namely the alternative provinces of Central Java, West Java, East Java, South Sumatra, and Aceh.

Implementasi Metode Preference Selection Index Dalam Penentuan Jaringan Dan Pemanfaatan Internet Pada Provinsi Indonesia Dewantara, Rizki; Cakranegara, Pandu Adi; Wahidin, Ahmad Jurnaidi; Muditomo, Arianto; Sudipa, I Gede Iwan
J-SAKTI (Jurnal Sains Komputer dan Informatika) Vol 6, No 2 (2022): EDISI SEPTEMBER
Publisher : STIKOM Tunas Bangsa Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30645/j-sakti.v6i2.527

The era of digital society is strongly supported by the development of information and communication technology, along with the use of the internet by the community, making the digital era help every community activity. The progress of internet development in Indonesia cannot be separated from the distribution of network infrastructure in all urban (urban) and rural (rural) areas in all provinces in Indonesia. Based on data from the Central Statistics Agency (BPS) for the period 2017 - 2020, this study aims to determine which of the 34 provinces in Indonesia are provinces that have a strong and stable internet network in urban and rural areas, as well as regions in Indonesia whose people are significantly utilizing the use of the internet in their daily activities in both urban and rural areas. The selection process uses eight assessment criteria from aspects of the expansion and distribution of internet network quality and internet utilization for rural and urban communities in the province of Indonesia. In this study, the method of solving the problem of multi-criteria decision-making is the Preference Selection Index (PSI) method. The results of the final calculation of the PSI method from 34 alternatives determine the five best provinces for expanding the internet network and internet utilization in 2020, namely the alternative provinces of Central Java, West Java, East Java, South Sumatra, and Aceh.

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