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THE ANALYSIS OF HIGHEST PAYING DIVIDEND COMPANIES STOCK RETURNS VOLATILITY IN INDONESIA Ariesta Tika Kinanti Pangestu Putri; Hilary Flora Agustina Tulli Lasar; Regi Muzio Ponziani
Jurnal Muara Ilmu Ekonomi dan Bisnis Vol. 7 No. 1 (2023): Jurnal Muara Ilmu Ekonomi dan Bisnis
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jmieb.v7i1.23150

Abstract

Penelitian ini bertujuan untuk memodelkan volatilitas return indeks saham perusahaan dividen tertinggi di Indonesia (DIV 20) sebelum dan sesudah pandemi COVID 19. Model keluarga ARCH (Autoregressive Conditional Heteroscedasticity) digunakan dalam hal ini. Periode penelitian diperpanjang dari 18 Mei 2018 hingga 18 Februari 2022. Batas waktu dimulainya pandemi adalah 1 April 2020. Data pengembalian adalah pengembalian mingguan. Hasilnya menunjukkan bahwa sebelum pandemi, GJR-GARCH(1,1) dapat memetakan dan melacak volatilitas dengan sangat baik karena mencetak AIC dan SIC pra-pandemi terendah. Oleh karena itu, penelitian ini menguatkan bukti adanya reaksi asimetris dari partisipasi pasar terhadap kemunculan dan penyebaran berita baik dan buruk di pasar. Setelah pandemi, efek ARCH menjadi kurang jelas. Angka signifikansi menurun meskipun efek ARCH masih signifikan pada 0,15. Performa model ARCH(1) secara signifikan lebih tinggi daripada model lain pasca-pandemi. Hasil tersebut menjadi bukti bahwa pascapandemi ketidakpastian yang dihadapi pelaku pasar sangat tinggi. Hal ini mengakibatkan meningkatnya volatilitas. Model keluarga ARCH menjadi kurang signifikan karena pengembaliannya lebih acak. Analisis lebih lanjut, bagaimanapun, menunjukkan bahwa pengembalian belum mengikuti model random walk meskipun keacakan meningkat. Oleh karena itu, ARCH(1) masih sesuai untuk memodelkan volatilitas setelah Pandemi.   This research aims at modeling the volatility of Indonesian highest paying dividend companies stock index (DIV 20) returns before and after pandemic COVID 19. The ARCH (Autoregressive Conditional Heteroscedasticity) family models were employed in this regard. The research period extended from 18 May 2018 to 18 February 2022. The cutoff for the commencement of pandemic was 1st April 2020. The return data were weekly returns. The results suggested that before pandemic, GJR-GARCH(1,1) could map and trace the volatility very well since it scored the lowest AIC and SIC pre-pandemic. Therefore, this research corroborated the evidence that there existed asymmetric reaction from the market participation toward the emergence and spread of good and bad news in the market. After pandemic, the ARCH effect became less obvious. The significance number was decreasing although the ARCH effect was still significant at 0.15. ARCH(1) model performance was significantly higher than the other models post-pandemic. The result presented evidence that after pandemic the uncertainty facing the market participants was very high. This resulted in the increase of the volatility. The ARCH family model was becoming less significant because the returns were more random. Further analysis, however, showed that the returns did not yet follow the random walk model despite the increasing randomness. Therefore, ARCH(1) was still appropriate to model the volatility after Pandemic.
FORECASTING THE INDONESIAN RURAL BANKS’ PROFITABILITY: THE CASE OF DYNAMIC AND STATIC FORECASTING Regi Muzio Ponziani
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 6, No 4 (2022): IJEBAR, Vol. 6 Issue 4, December 2022
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v6i4.6753

Abstract

This research aims to forecast the profitability of Indonesian rural banks. The forecasting methods employed dynamic and static forecasting. Dynamic forecasting was represented by regression with Autoregressive Integrated Moving Average (ARIMA) errors while static forecasting was represented by Holt-Winters seasonality and Seasonal Autoregressive Integrated Moving Average (SARIMA). The regression with ARIMA errors included additional independent variables namely inflation and interest rate. The dependent variable being forecast was return on assets (ROA) of the rural banks. The data extended from January 2010 to July 2021. The data will be divided into training and test data. Training data extended from January 2010 to December 2020. The test data extended from January 2021 to July 2021. Training data were used to derive the models. The models generated then were used to yield forecasts for January until July 2021. The forecasts were later compared to the test data for accuracy. The research found that regression with ARIMA errors had the best forecast accuracy, followed by SARIMA and Holt-Winters seasonality. Therefore, the research proposed that regulators, analysts and all stakeholders of the Indonesian rural banks employ regression with ARIMA errors to predict the profitability and financial position of the rural banks.
PELATIHAN TRYOUT SOFTWARE AKUNTANSI ACCURATE SISWA/SISWI DAN GURU SMK STRADA DAAN MOGOT Paulina Sutrisno; Sugiarto Prajitno; Astrid Rudyanto; Regi Muzio Ponziani; Novia Wijaya
ABDIMAS UNWAHAS Vol 8, No 2 (2023)
Publisher : Universitas Wahid Hasyim Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31942/abd.v8i2.10017

Abstract

Tujuan diadakannya pengabdian masyarakat berupa pelatihan tryout accurate kepada para siswa/siswi dan guru akuntansi SMK Strada Daan Mogot Tangerang adalah untuk memberikan pembekalan menghadapi ujian sertifikasi pengoperasian software akuntansi accurate. Pelatihan tryout software akuntansi accurate ini dilakukan sebagai tindak lanjut kerjasama Pusat Penelitian dan Pengabdian Masyarakat (P3M) Trisakti School of Management (TSM) dengan SMK Strada Daan Mogot dalam menyikapi kebutuhan sertifikasi software akuntansi accurate yang nantinya dapat menjadi bekal untuk siswa/siswi SMK dalam mencari pekerjaan ataupun lanjut ke jenjang pendidikan yang lebih tinggi. Materi pelatihan tryout software akuntansi accurate disesuaikan dengan kebutuhan SMK Strada Daan Mogot untuk mempersiapkan siswa/siswi maupun guru akuntansi dalam mengambil ujian sertifikasi accurate oleh PT Ultima Tekno Solusindo. Pelatihan tryout software akuntansi accurate dilakukan selama dua hari berturut-turut pada tanggal 16 – 17 Juni 2022 yang berlokasi di laboratorium komputer SMK Stara Daan Mogot yang diikuti oleh seluruh siswa/siswa dan guru akuntansi SMK Strada Daan Mogot kelas 11 yang berjumlah 20 peserta. Laboratorium komputer yang digunakan ada 6 kelas, yang masing-masing kelas terdiri dari kurang lebih 20 siswa/siswi dan guru akuntansi SMK Strada Daan Mogot. Pelatihan tryout software akuntansi accurate yang dilakukan secara luring dapat berjalan dengan baik dan lancar. Siswa/siswi dan guru akuntansi SMK Strada Daan Mogot dengan semangat mengikuti pelatihan tryout software akuntansi accurate yang diberikan oleh dosen-dosen akuntansi Trisakti School of Management yang telah mendapatkan sertifikasi CAP (Certified Accurate Professional) beserta beberapa mahasiswa akuntansi TSM. Siswa/siswi dan guru akuntansi SMK Strada Daan Mogot aktif mengikuti pelatihan dan bertanya apabila mereka mengalami kesulitan ketika mengikuti pelatihan tryout software akuntansi accurate.Kata kunci: P3M TSM, SMK Strada Daan Mogot, software akuntansi accurate, tryout 
Inflation forecasting using autoregressive distributed lag (ARDL) models Ponziani, Regi Muzio
Jurnal Ekonomi & Studi Pembangunan Vol 24, No 2: October 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v24i2.17620

Abstract

This study attempts to evaluate and compare the inflation-predicting performance of several ARDL models. Since there was no cointegration, the ARDL model does not employ an error correction term. Subsequently, model development showed that ARDL(2,2) should be used. Besides the formally developed model, some other more arbitrarily chosen ARDL models were also included, i.e., ARDL(1,1), ARDL(2,0), ARDL(1,0), ARDL(0,1), and ARDL(0,2). This research measures forecasting performance with inflation as the forecasting object. The duration of the monthly inflation statistics ranged from January 2011 to July 2022. The data were separated into two categories. The training data ranged between January 2011 and December 2021. After getting the appropriate parameters from the training data, the models generated projections from January 2022 to July 2022. The research determined that ARDL (1,0) was the most accurate inflation forecasting model, followed by ARDL (0,2) and formally constructed ARDL(2,2) finished in fourth place. This study suggests that the formal development of ARDL for forecasting purposes is unnecessary. Formal ARDL development is more appropriate for root cause analysis. In addition, the single autoregressive component indicates that most of the inflation value's information originated from the prior period. This suggests that the previous period's value is Indonesia's most significant predictor of inflation. The impact of greater period lags on inflation forecasting diminishes immediately.
THE RESPONSE OF DEPOSITS IN THE BANKING SYSTEM TO SHOCKS IN THE MACROECONOMY Theola, Veliana; Ponziani, Regi Muzio
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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

Abstract

This study aims at determining the response of deposits (third party funds) in the commercial banks and rural banks to the shocks occurring to inflation, money supply, and USD/IDR exchange rate. So far previous study has mainly focused on only Islamic banks. The data collected were monthly data extending from January 2015 until December 2023. All the data were available on Bank Indonesia and OJK’s websites. The research method used was impulse response function (IRF) that was preceded by vector error correction model (VECM). Upon first examination, it was found out that the data were not stationary. Therefore, they need to be first-differenced for further testing. There was cointegration in the data and therefore we could conclude that banks deposit has a long-term relationship with inflation, money supply, and exchange rate. Impulse response function showed that deposits in the banking system will decrease whenever there is a shock on inflation. This shows how people in the rural and urban areas will hold more cash in the midst of high uncertainty in the economy. Moreover, when there are shocks happening to money supply and exchange rate, the deposits in the rural and commercial banks are very likely to decline. Again, this corroborates the evidence for the tendency of the population to hold more cash in hands to be prepared in times of high uncertainty in money supply and exchange rate.
MENINGKATKAN SKILL LEAD AND INFLUENCE TO GREATNESS DI ERA PERUBAHAN KONSUMEN Briliana, Vita; Prasastyo, Klemens Wedanaji; Suryawan, Ian Nurpatria; Gulo, Yupiter; Rudyanto, Astrid; Ponziani, Regi Muzio; Tjahyanti, Setia; Indriyanti, Irma Satya
E-Amal: Jurnal Pengabdian Kepada Masyarakat Vol 4 No 2: Mei-Agustus 2024
Publisher : LP2M STP Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47492/eamal.v4i2.3336

Abstract

Memimpin melalui pengaruh yang besar. Menjadi seorang pemimpin, Leader harus memiliki kemampuan untuk membangun hubungan yang kuat yang didasarkan pada kepercayaan (trust) dan rasa hormat (respect), serta untuk menyampaikan ide-ide inovatif kepada tim dengan kemampuan ini. Seorang pemimpin yang efektif tidak hanya memberi perintah dengan mudah. Seorang Leader harus selalu kreatif, responsif, dan berpikir terbuka. Tujuan lain dari kegiatan ini adalah untuk mendorong kerjasama dan kemitraan antara pimpinan Hotel Anara dan Trisakti School of Management, sehingga dosen dapat mengembangkan kompetensi sosial. Kesimpulan peran kegiatan pengabdian masyarakat sebagai wadah realisasi para dosen agar berbagi pengetahuan dengan masyarakat, dengan fokus pada peran leadership dalam berkomunikasi dengan timnya serta merespon perubahan teknologi, terutama bagi peserta dari Hotel Anara, Tangerang
THE RESPONSE OF DEPOSITS IN THE BANKING SYSTEM TO SHOCKS IN THE MACROECONOMY Theola, Veliana; Ponziani, Regi Muzio
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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

Abstract

This study aims at determining the response of deposits (third party funds) in the commercial banks and rural banks to the shocks occurring to inflation, money supply, and USD/IDR exchange rate. So far previous study has mainly focused on only Islamic banks. The data collected were monthly data extending from January 2015 until December 2023. All the data were available on Bank Indonesia and OJK’s websites. The research method used was impulse response function (IRF) that was preceded by vector error correction model (VECM). Upon first examination, it was found out that the data were not stationary. Therefore, they need to be first-differenced for further testing. There was cointegration in the data and therefore we could conclude that banks deposit has a long-term relationship with inflation, money supply, and exchange rate. Impulse response function showed that deposits in the banking system will decrease whenever there is a shock on inflation. This shows how people in the rural and urban areas will hold more cash in the midst of high uncertainty in the economy. Moreover, when there are shocks happening to money supply and exchange rate, the deposits in the rural and commercial banks are very likely to decline. Again, this corroborates the evidence for the tendency of the population to hold more cash in hands to be prepared in times of high uncertainty in money supply and exchange rate.
The ABCs of Entering Indonesian Market: An International Community Service Program for Thailand’s SMEs Ponziani, Regi Muzio; Danibrata, Aulia; Deitiana, Tita; Susanto, Yulius Kurnia; Firnanti, Friska; Purbasari, Niken; Prasetio, Arton Briyan
International Journal of Community Service & Engagement Vol. 6 No. 2 (2025): International Journal of Community Service & Engagemen
Publisher : Training & Research Institute - Jeramba Ilmu Sukses

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijcse.v6i2.2767

Abstract

This community service initiative, conducted on October 17, 2024, at Thailand’s East Park Incubator, aimed to equip Thai SMEs (Small and Medium-Sized Enterprises) with strategies to enter the Indonesian market by addressing digitalization, cultural alignment, and regulatory compliance. Engaging 30 Thai SMEs, the program emphasized leveraging Indonesia’s digital ecosystem including platforms like Tokopedia, Shopee, Instagram, and TikTok to reach its young and huge population of over 212 million internet users, while highlighting demographic advantages such as a young workforce, halal product demand, and strategic geographic positioning. Key discussions covered cultural nuances like relationship-building practices, collective decision-making, and business etiquette to foster trust, alongside regulatory frameworks such as PT PMA requirements and tax policies. Participants demonstrated strong interest in Indonesia’s market potential, with plans or strategies to adopt localized digital marketing, partner with Indonesian businesses, and utilize e-commerce logistics. The initiative underscores the importance of academic-industry collaboration in facilitating cross-border SMEs expansion, fostering economic growth, and enhancing Thailand-Indonesia knowledge exchange through tailored market entry strategies.
The Importance of Choosing the Right Majors in The University and The Respective Career Prospects Ponziani, Regi Muzio; Yuwono, Arleen Herawaty; Gulo, Yupiter; Jonathan, Aries; Syahrian, Syahrian; Gunawan, Hery; Wardy, Andes
International Journal of Community Service & Engagement Vol. 6 No. 3 (2025): International Journal of Community Service & Engagemen
Publisher : Training & Research Institute - Jeramba Ilmu Sukses

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijcse.v6i3.2984

Abstract

High school and vocational school students will continue their education to the university level. At the university level, there are various majors available. The chosen major will most likely determine the career prospects that these students will pursue. Recognizing the importance of this, SMA Muhammadiyah 25 Pamulang and Trisakti School of Management held a seminar on the importance of choosing a major for students in the social humanities track. Two majors were introduced, namely Accounting and Management. The community service activity began with an introduction to the majors and career prospects in Accounting and Management, and ended with a Q&A session. The speakers also asked several questions and made observations to test the students’ understanding of the material presented. In general, the community service activity ran very well.
Pelatihan Kepemimpinan di Lingkungan Organisasi OSIS SMK Tarakanita Ponziani, Regi Muzio; Putri, Ade Hanifa; Nellyana; Hidayat, Muwafick; Suparmun, Haryo; Soegijanto, Cleophila M.G.T.
Jurnal Abdimas Sosial, Ekonomi, dan Teknologi Vol. 4 No. 1 (2025): Jurnal Abdimas Sosial, Ekonomi, dan Teknologi
Publisher : Pusat Penelitian dan Pengabdian Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/5zqav868

Abstract

The community service program aims to explain and train the candidates of OSIS members including the chairs, the concept of leadership and GRIT. The program was implemented on January 20, 2025 at SMK Tarakanita Jakarta. The speakers and trainers involved two lecturers from STIE Trisakti (Sekolah Tinggi Ilmu Ekonomi Trisakti) and two senior students. The participants were 37 students intended to be the members of OSIS. The program was divided into lecturing and interactive sessions. The lecturing session was presented by the lecturers explaining the concept of leadership, GRIT, and the qualities of good leaders. During the lecturing session, the speakers also convey some questions to the students to confirm the comprehension of the participants. Subsequent to the lecturing session, two senior university students held the interactive sessions. In this session, the speakers shortly talked about personality and personality test such as MBTI. Participants were again asked some questions and answers some quizzes. The students were then given prizes for the best answers. Future community service program could further the leadership issues by conducting role play methodology.