Article Per Year (5 Year)
p-Index From 2021 - 2026
1.431
P-Index
This Author published in this journals
All Journal Jurnal Reviu Akuntansi dan Keuangan MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN Jurnal Keuangan dan Perbankan Jurnal Manajemen Teori dan Terapan Riset Akuntansi dan Keuangan Indonesia Ekonomi Bisnis Jurnal Ekonika : Jurnal Ekonomi Universitas Kadiri EKSPANSI Jurnal Manajemen Bisnis
Madyan, Muhammad
Airlangga University
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education

Published : 18 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 18 Documents
Search

 1   2 
DETERMINAN SIKLUS KONVERSI KAS INDUSTRI MANUFAKTUR DI INDONESIA (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA) Muhammad Madyan
Ekonomi Bisnis Volume 24, No. 1, Mei 2019
Publisher : Jurusan Manajemen Fakultas Ekonomi Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (124.976 KB) | DOI: 10.17977/um042v24i1p50-55

Abstract

Penelitian ini bertujuan untuk menguji dan menganalisis determinan siklus konversi kas pada industri manufaktur di Indonesia. Variabel determinan siklus konversi kas yang digunakan pada penelitian ini adalah ukuran perusahaan, pertumbuhan penjualan, profitabilitas, debt ratio, quick ratio dan operating cash flow. Data yang digunakan adalah laporan keuangan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dan memenuhi kelengkapan studi sejumlah 128 perusahaan dalam jangka waktu 2007-2011. Hasil penelitian ini menunjukkan bahwa profitabilitas, operating cash flow, ukuran perusahaan berpengaruh signifikan pada siklus konversi kas. Sedangkan variabel pertumbuhan penjualan, debt ratio, dan quick ratio berpengaruh tidak signifikan terhadap siklus konversi kas
FAKTOR INTERNAL, KEPEMILIKAN ASING DAN RISIKO SAHAM PERBANKAN DI INDONESIA Muhammad Madyan; Astriani Wahyuningati; Gagas Gayuh Aji; Novian Abdi Firdausi
Ekonomi Bisnis Volume 24, No. 2, Oktober 2019
Publisher : Jurusan Manajemen Fakultas Ekonomi Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (135.721 KB) | DOI: 10.17977/um042v24i2p72-79

Abstract

Sebagai sektor yang telah mature, perbankan telah membuat banyak perubahan dramatis dalam mengurangi berbagai risiko manajemen dekade terakhir. Namun tetap saja perbankan masih rentan, seperti terhadap risiko saham. Faktor penentu risiko saham perbankan sangat bervariasi sehingga diperlukan adanya pengembangan penelitian. Menggunakan data komprehensif yang mencakup 25 bank go public di Indonesia selama periode 2009-2013, penelitian ini menyelidiki dampak faktor internal dan kepemilikan asing terhadap risiko saham perbankan. Dengan menggunakan metode pengujian regresi linear berganda, penelitian ini menemukan bukti kuat bahwa faktor internal seperti non-interest income, total asset, non-performing loan, dan diversifikasi pendapatan berpengaruh signifikan terhadap risiko saham perbankan. Namun untuk faktor internal lain, yaitu short-term loan dan portofolio kredit meskipun berpengaruh negatif, tetapi tidak signifikan terhadap risiko saham perbankan di Indonesia. foreign ownership, sebagai faktor non internal, juga tidak terdukung didalam hubungannya dengan risiko saham.
THE EFFECT OF MANAGERIAL OVERCONFIDENCE ON CORPORATE INVESTMENT Mochamad Ali Fudin Al Islami; Muhammad Madyan
Manajemen Bisnis Vol. 10 No. 1 (2020): April
Publisher : Universitas muhammadiyah malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jmb.v10i1.11787

Abstract

The research aims to analyze the impact of managerial overconfidence on corporate investment (investment scale, overinvestment and underinvestment) using companies listed in Indonesia’s Stock Exchange in 2012-2018 as a sample. The analysis method used Ordinary Least Square and robustness test used Maximum Likelihood  Estimation. The result shows that managerial overconfidence has a significantly positive impact on the corporate investment scale. It means that managerial overconfidence makes overinvestment problem more severe (more inefficient) and underinvestment problem less severe (more efficient).
PENGARUH PERKEMBANGAN KEUANGAN TERHADAP EMISI CO2 DI INDONESIA Muhammad Madyan; Deni Kusumawardani; Hasbi Ash Shidiq
Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan, dan Akuntansi Vol 14 No 2 (2022)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/ekspansi.v14i2.4536

Abstract

This study aims to examine the effect of financial developments on CO2 emissions in Indonesia from 1980 to 2019 by adding financial developments as a moderating variable using multiple linear regression analysis. This study extended the STIRPAT framework as a research model. The results of the study found that financial developments had a negative effect on CO2 emissions and significantly weakened the positive effects of economic growth on CO2 emissions. In addition, economic growth, energy consumption, and urbanization negatively affect environmental quality. The results revealed that financial developments have an important role in improving environmental quality and controlling CO2 emissions.
Peluang Investasi, Pendanaan Perusahaan, dan Kebijakan Dividen Akbar Nugraha; Muhammad Madyan
Jurnal Ekonika : Jurnal Ekonomi Universitas Kadiri Vol. 7 No. 1 (2022): April 2022
Publisher : Fakultas Ekonomi Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/ekonika.v7i1.1131

Abstract

This study aims to analyze the effect of investment opportunities and corporate financing on dividend policy. The data used in this study are companies that are included in the LQ-45 index listed in Indonesia`s Stock Exchange in 2012 - 2018 with a total of 224 observations obtained from the annual financial reports of each company with access to the website www.idx.com. The analytical method used is Ordinary Least Square (OLS) and as a robustness test using Maximum Likelihood Estimation (MLE). The results found contrary to previous studies, that investment opportunities have a positive effect on dividend policy. Corporate Financing has a negative effect on dividend policy. This research can be used as a consideration for investors in expecting dividends when investing on LQ-45 companies in Indonesia`s Stock Exchange.
How does ESG explain excess returns in emerging market? An Asset-Pricing Approach Clarissa Mulialim; Muhammad Madyan
Journal of Theoretical and Applied Management (Jurnal Manajemen Teori dan Terapan) Vol. 16 No. 2 (2023)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v16i2.48072

Abstract

Objective: Previous studies found several important risk factors for the capital market in explaining stock performance. However, most studies only consider conventional investment factors without considering sustainable ones. This study examines Environmental, Social, and Governance (ESG) performance's effect as a risk factor in a multi-factor model. Design/Methods/Approach: This study employs secondary data from the company's financial reports, annual reports, and Thomson Reuters ESG score data. The sample for this study were companies listed on the LQ45 index during the 2015-2019 period, which were selected using the purposive sampling method and produced a selection of 19 non-financial companies that met the criteria. Findings: The results show that ESG negatively affects 21 out of 30 portfolios, and the four-factor ESG model is better at explaining excess returns than the three-factor Fama-French model. Originality/Value: This study provides new insights by including ESG as a risk factor in the three-factor Fama-French model in explaining stock returns. The existence of the ESG variable allows us to identify whether sustainability is an essential determinant in explaining the average portfolio return. This study adds new insights, where using sustainability reports in the form of ESG can capture cross-sectional variations in stock returns, not only on market factors, size factors, and book-to-market factors. Practical/Policy implication: Given the established evidence that ESG factors can mitigate risk, investors are encouraged to thoroughly evaluate a company's sustainability report to assess the efficacy of its ESG performance. For managers of companies, this serves as the foundation for developing strategies that will enhance the long-term profitability and sustainability of the organization.
Environmental, Social, Governance (ESG) Performance and Capital Structure: The Role of Good Corporate Governance Muhammad Madyan; Saraswati Kuntum Widuri
Journal of Theoretical and Applied Management (Jurnal Manajemen Teori dan Terapan) Vol. 16 No. 3 (2023)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v16i3.47483

Abstract

Objective: The purpose of this study is to investigate the impact of Environmental, Social, and Governance (ESG) performance on capital structure, using good corporate governance (GCG) as a moderating variable. Design/Methods/Approach: The sample comprises companies listed on the IDX outside the financial sector that issued financial and sustainability reports between 2017 and 2021. The Global Reporting Initiative (GRI) index measures ESG performance, the capital structure is measured by leverage, and the moderating variable of good corporate governance is measured by independent commissioner proportion. The data are analyzed using the OLS regression technique. Findings: According to the estimation results, ESG performance positively affects the capital structure of non-financial enterprises. Furthermore, good corporate governance does not moderate the relationship between environmental, social, governance, and capital structure.   Originality/Value: By focusing on ESG performance and capital structure as evaluated in emerging countries, this study adds to existing research on environmental and social performance and its impact on capital structure. Furthermore, GCG is included as a moderating variable in this study. Practical/Policy implication: Based on the findings, it is suggested that firm executives take steps to expand their ESG practices. This ensures sustainability and increases investor and creditor confidence, resulting in more efficient funding sources for the company.
Financial Literacy, Financial Technology Literacy, and Capital Market Participation Nugroho Sasikirono; Harlina Meidiaswati; Nur Maulydia Rachman; Muhammad Madyan
Journal of Theoretical and Applied Management (Jurnal Manajemen Teori dan Terapan) Vol. 16 No. 3 (2023)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v16i3.49550

Abstract

Objective: This study aims to determine the effect of financial literacy and fintech literacy on capital market participation. It also examines the effects of individual characteristics (i.e., gender, age, student's allowances and income, parent's education, and parent's income) on financial and fintech literacy. Design/Methods/Approach: This study obtained 349 data from email and field surveys using purposive sampling. Data analysis was performed using OLS and path analysis. Findings: Results show that the level of student financial literacy is sufficiently literate, with a moderate level of fintech literacy but low capital market participation. The results also show financial and fintech literacy positively affects capital market participation. Financial literacy also exhibits indirect effects on capital market participation. Analysis of the determinants of literacy shows that gender, age, student allowances, and income have a significant positive effect on financial literacy and fintech literacy. We also find that parental education and income show a negative effect on fintech literacy. Originality/Value: This study is the first to examine the relationship between financial literacy, fintech literacy, and capital market participation in young adults in metropolitan cities in Indonesia. The results are expected to provide insight for the authorities of the monetary system and the capital market to develop strategies for the more intense involvement of young adults in the capital market. Practical/Policy implication: This study highlights the importance of educating students about financial and fintech literacy to increase their participation in the capital market. Decision-makers should focus on providing intense education on portfolio investment, risk and return, and investment instruments. Financial authorities should also collaborate with fintech operators and securities companies to promote capital market products through fintech and educate the public with more comprehensive information.
Co-Authors Akbar Nugraha Anita Carolina Astriani Wahyuningati Bayu Arie Fianto Bayu Indra Kurniawan Clarissa Mulialim Deni Kusumawardani Gagas Gayuh Aji, Gagas Gayuh Haka Adila Harlina Meidiaswati Harlina Meidiaswati Hasbi Ash Shidiq Ilham Ramadhani Mochamad Ali Fudin Al Islami Muhammad Hadyan Herlambang Nisful Laila Novian Abdi Firdausi Novian Abdi Firdausi Novian Abdi Firdausi Nur Maulydia Rachman Putri Maulidya Putri Yanti Lestyarini Raditya Sukmana Rayindha Galuh Setyowati Saraswati Kuntum Widuri Sasikirono, Nugroho Wida Kusmayana Wulan Rahmadani Setiawan