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Mind Matters in Investments: Unveiling the Psychological Forces Shaping Decision Making Behavior Helmina, Monica Rahardian Ary; Rosari, Novika; Yusniar, Meina Wulansari; Utaminingsih, Nanik Sri
JDM (Jurnal Dinamika Manajemen) Vol 14, No 2 (2023): September 2023
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v14i2.44797

Abstract

The Indonesian Central Securities Depository (KSEI) in 2021 revealed a significant increase in the number of capital market investors. This study aims to analyze the psychological and gender biases influencing capital market investors in making risky investment decisions, based on the theory of myopic loss aversion (MLA). The participants two groups: experienced and inexperienced investors. The experimental stage involved manipulating the groups with two types of treatment, frequent and infrequent, using a between-within-subject design with a 2 x 2 factorial structure. The results of the gender experiment showed that male and female participants in the experienced group exhibited similar levels of courage. However, in the inexperienced group, which mainly consisted of students, gender differences were observed. Men tended to be more daring and speculative in their decision-making, particularly during the pandemic. On the other hand, women tended to prioritize security in their investment choices. Additionally, the study found evidence of a “shock effect” experienced by participants during the experiment. This effect contributed to investors’ cautious decision-making, and it was also influenced by gender differences. The findings suggest Man in the inexperienced group displayed higher risk-taking tendencies compared to women, who were more focused on security when using their investment funds.
Effect of Ordo in Assessment of Financial and Non-Financial Information Helmina, Monica Rahardian Ary; Ghozali, Imam; Isgiyarta, Jaka; Sutomo, Ibnu
JDM (Jurnal Dinamika Manajemen) Vol 11, No 1 (2020): March 2020
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v11i1.22554

Abstract

This research focuses on investor decision making on information provided by the company. Belief-adjustment models emphasize the order of presentation of information. Order effects occur when decisions made by individuals differ after receiving evidence in a different order. In order of evidence, the characteristics of the evidence are mixed between confirmative (positive) information and unconfirmed (negative) information.The participants of this study are investors who have investment accounts. The design of the 2x4 experimental method is divided into analysis of factor 2 (presentation pattern) x 4 (information value), which aims to test that the presentation of information in step by step (SBS) will have a better impact than end of sequence (EOS). There are 8 combinations of instruments contain patterns and information values that are used as a source of stock valuation. ANOVA analysis is used for this study. The results showed that there was an effect of the pattern of information delivery in investment decision making when the SBS and EOS disclosure patterns in hypothesis 1 and hypothesis 2. The results of hypothesis 3 did not support the belief adjustment model theory.
Environmental Cost Allocation Model: Sustainability Local City in Indonesia Utaminingsih, Nanik Sri; Pramono, Maylia; Prastiwi, Andri; Hernawati, Retno Indah; Helmina, Monica Rahardian Ary
Economic Education Analysis Journal Vol 1 No 1 (2023): Economic Education Analysis Journal [Special Issue]
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/eeaj.v1i1.77140

Abstract

This study aims to test a model for determining environmental cost allocation in local governments in Indonesia. Factors that are expected to contribute to this cost allocation determination model include gross regional domestic product, investment, population and local revenue. The population in the study were districts in Central Java province totalling 35 districts. The data analysis used in this study is a mediation regression model. This study uses quantitative data, where the data used in the study are obtained from the financial statements of each district in Central Java Province and the regional revenue and expenditure budgets of each district in Central Java Province. The results of this study prove that there is an influence of gross domestic product, population and local revenue on the determination of total environmental costs. However, investments made by local governments have no effect on the allocation of environmental costs that have been determined.
FAKTOR-FAKTOR YANG MEMENGARUHI TRANSPARANSI ANGGARAN BERBASIS WEBSITE: STUDI PADA PEMERINTAH PROVINSI DI INDONESIA Mutma’innah, Siti; Nor, Wahyudin; Helmina, Monica Rahardian Ary
AKSELERASI: Jurnal Ilmiah Nasional Vol 7 No 3 (2025): AKSELERASI: JURNAL ILMIAH NASIONAL
Publisher : GoAcademica Research dan Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54783/jin.v7i3.1470

Abstract

Transparansi anggaran berbasis website pemerintah provinsi merupakan bagian penting dari upaya mewujudkan tata kelola yang akuntabel. Namun, tingkat keterbukaan antar provinsi masih bervariasi. Penelitian ini menganalisis pengaruh belanja daerah, media coverage, dan tingkat kesejahteraan masyarakat (PDRB) terhadap transparansi anggaran berbasis website, serta menilai peran tingkat pembangunan teknologi informasi dan komunikasi (TIK) sebagai variabel moderasi. Penelitian menggunakan data 34 provinsi selama 2014-2023 (340 observasi) dan dianalisis dengan Partial Least Squares (PLS). Hasil penelitian menunjukkan bahwa media coverage dan PDRB berpengaruh signifikan terhadap transparansi anggaran digital, sedangkan belanja daerah tidak berpengaruh signifikan. TIK terbukti memperkuat pengaruh media coverage, namun tidak memoderasi pengaruh belanja daerah maupun PDRB. Temuan ini menegaskan bahwa infrastruktur teknologi tidak otomatis meningkatkan transparansi, karena keberhasilan transparansi digital bergantung pada komitmen organisasi, kesiapan SDM, dan budaya birokrasi.