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All Journal Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) Jurnal Ilmu Manajemen (JIM) El Dinar The Indonesian Accounting Review Journal of Business & Banking EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Jurnal Manajemen & Keuangan Distribusi INVENTORY: JURNAL AKUNTANSI Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship Jurnal Samudra Ekonomi dan Bisnis Business and Finance Journal Dinasti International Journal of Education Management and Social Science Jurnal Riset Bisnis dan Manajemen Jurnal Kedaymas Jurnal Iqtisaduna Golden Ratio of Finance Management JWM (JURNAL WAWASAN MANAJEMEN) Ekombis Sains: Jurnal Ekonomi, Keuangan dan Bisnis JPS (Jurnal Perbankan Syariah)
Lutfi Lutfi
Universitas Hayam Wuruk Perbanas
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Industrial & Manufacturing Engineering Other

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EXPERIENCE, KNOWLEDGE, ON FINANCIAL BEHAVIOR, MEDIATION OF LOC, MODERATION OF NUMBER OF DEPENDENTS Kiki Marti Diana; Lutfi
Jurnal Riset Bisnis dan Manajemen Vol. 14 No. 2 (2021): August Edition
Publisher : Faculty of Economic and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrbm.v14i2.4417

Abstract

Previous research gave different results regarding financial management behavior and appear research gap, so the researchers aimed to examine whether financial experience and knowledge have a positive effect on financial management behavior, locus of control mediates the effect of financial experience and knowledge on financial management behavior, and the number of dependents moderate effect of financial knowledge on financial management behavior. The sampling technique used purposive sampling, while analysis technique used the Structural Equation Model. Financial experience and knowledge have significant positive effect on financial management behavior. Locus of control mediates effect of financial experience on financial management behavior but is better directly. Locus of control doesn’t mediate effect of financial knowledge significantly on financial management behavior. The numbers of dependents doesn’t moderate effect of financial knowledge on financial management behavior. Otoritas Jasa Keuangan and Surabaya government provide access and education such as seminars, workshops (pension funds, insurance, and investment).
Determinan Simpanan Dana Pihak Ketiga Bank Syariah: Adakah Dampak Turbulansi Ekonomi? Hasanah, Uswatun; Lutfi, Lutfi
Jurnal Iqtisaduna Vol.10 No.1 (2024)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/iqtisaduna.v10i1.44039

Abstract

The economic turbulence caused by the Covid-19 outbreak does not seem to have a negative impact on bank third party deposits. This research aims to examine the impact of economic turbulence, sharia financing, bank size, capital, and profitability on third party funds. This research uses quarterly data from ten Islamic banks in Indonesia from 2017 - 2022. The data is analyzed using panel data analysis techniques, with the best model of random effects. The results prove that economic turbulence negatively impacts the deposits of the sharia banks. Bank capital decreases sharia bank deposits, while sharia financing increases the deposits. The research did not find any significant influence of bank size and profitability on the third party funds. The effect of economic turbulence on deposits also applies when gross domestic product (GDP) growth is used as a substitute for the crisis dummy variable. GDP growth has a significant positive impact on third party deposits. These findings imply that the Government and Bank Indonesia need to maintain the stability of national economic growth. Sharia bank management needs to maintain the availability of third party funds in line with financing needs. This research also supports the business cycle theory regarding the negative impact of economic turbulence on bank business activities.
PENGARUH PERSEPSI RISIKO, EMOSI, DAN ORIENTASI MENABUNG, TERHADAP KECENDERUNGAN BERHUTANG:ADAKAH MODERASI JUMLAH TANGGUNGAN? Susilowati, Arlianti Agil; Lutfi, Lutfi
Distribusi - Journal of Management and Business Vol. 12 No. 1 (2024): Distribusi, March 2024
Publisher : Fakultas Ekonomi dan Bisnis Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/distribusi.v12i1.450

Abstract

Perilaku berhutang seolah telah menjadi sesuatu yang umum bagi banyak masyarakat di Indonesia saat ini, terutama dengan tersedianya pinjaman berbasis teknologi. Penelitian ini bertujuan untuk menguji penentu kecenderungan berhutang yang mencakup persepsi risiko, emosi, orientasi menabung, dan jumlah tanggungan. Selain itu, penelitian ini juga mengkaji apakah jumlah tanggungan dapat memoderasi pengaruh orientasi menabung terhadap kecenderungan berhutang. Sampel penelitian 137 responden yang tinggal di kota metropolitan DKI Jakarta dan sekitarnya serta Surabaya dan sekitarnya. Teknik analisis untuk pengujian hipotesis dilakukan menggunakan partial least squares (PLS) dengan software SMART-PLS. Hasil penelitian membuktikan emosi, persepsi risiko, dan jumlah tanggungan berpengaruh secara negatif signifikan pada kecenderungan berhutang, sedangkan orientasi menabung tidak berpengaruh signifikan terhadap kecenderungan berhutang. Penelitian ini tidak memperoleh bukti memadai terkait pengaruh moderasi jumlah tanggungan. Implikasi dari penelitian ini adalah bahwa individu perlu untuk menghindari perilaku yang terlalu memandang rendah risiko dari suatu keputusan keuangan dan memiliki rasa malu ketika banyak berhutang agar terhindar dari kebiasaan berhutang yang dapat menyebabkan permasalahan keuangan.
Perilaku Pengelolaan Keuangan Keluarga: Peran Moderasi Pendapatan Husna, Nur Af’idatul; Lutfi, Lutfi
Jurnal Samudra Ekonomi dan Bisnis Vol 13 No 1 (2022)
Publisher : Fakultas Ekonomi Universitas Samudra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33059/jseb.v13i1.3349

Abstract

Financial Management Behavior is crucial to achieve future financial well-being. The purpose of this research is to examine the influence of financial experience and financial knowledge on family financial management behavior with income as a moderating variable. The samples are 249 respondents who are married with a minimum income of Rp. 5.000.000,- per month and live in Surabaya. Data is analysed using Structural Equation Modeling. The results indicate that there are significant positive influences of financial experience and financial knowledge to family financial management behavior; there is no influence of income to family financial management behavior; and, income strengthens the influence of financial knowledge to family financial management behavior. This study suggests households to spend more money for pension fund programs and improve their financial knowledge, especially about investment and credit.
Determinants of individual investment decision: A moderated mediation model Lutfi, Lutfi
The Indonesian Accounting Review Vol. 14 No. 1 (2024): January - June 2024
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/tiar.v14i1.3916

Abstract

This study aims to examine the effect of financial self-efficacy, risk tolerance, risk perception, and gender on individual investment decisions using a moderation and mediation approach. In addition, this study also examines the role of risk tolerance in mediating the effect of financial self-efficacy on investment decisions as well as the role of gender in moderating the effect of financial self-efficacy on risk tolerance and investment decisions. The sample used in this study is individuals living in Madura Island who invest in financial and real assets. A total of 416 respondents filled out the questionnaire distributed online. This study uses Partial Least Square-Structural Equation Modeling (PLS-SEM) to test the hypotheses. The results of this study prove that financial self-efficacy, risk tolerance, and gender have a positive effect on individual investment decisions. Meanwhile, risk perception has a negative effect on individual investment decisions. Risk tolerance partially mediates the effect of financial self-efficacy on investment decisions. Furthermore, gender strengthens the effect of financial self-efficacy on risk tolerance and investment decisions. This study provides an understanding of the role of risk in investment decisions. Investors are expected to increase their financial knowledge and control their behavioral biases so as not to get trapped in high-risk investments.
Pengaruh Pengalaman Keuangan, Emosi, dan Nilai Uang terhadap Kecenderungan Berhutang dengan Mediasi Materialisme Satrida, Galuh; Lutfi, Lutfi
EKONOMI KEUANGAN DAN BISNIS Vol 9, No 1 (2024): Ekombis Sains: Jurnal Ekonomi, Keuangan, dan Bisnis
Publisher : Universitas Sang Bumi Ruwa Jurai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24967/ekombis.v9i1.2737

Abstract

Perilaku berhutang seolah sudah menjadi gaya hidup masyarakat Indonesia, khususnya di kota metropolitan. Perilaku ini semakin meningkat seiring dengan ketersediaan pinjaman berbasis teknologi (fintech). Penelitian ini bertujuan untuk mengkaji pengaruh pengalaman keuangan, emosi, nilai uang, materialisme terhadap kecenderungan berhutang masyarakat di Jakarta dan sekitarnya serta Surabaya dan sekitarnya. Pemilihan sampel didasarkan pada teknik purposive sampling dan convenience sampling. Terdapar 137 responden penelitian yang tersebar relatif merata di kedua wilayah. Pengujian hipotesis dilakukan menggunakan Partial Least Square-Structural Equation Modeling (PLS-SEM). Hasil pengujian menunjukkan bahwa emosi berpengaruh negatif secara signifikan terhadap kecenderungan berhutang, sementara nilai uang dan materialisme berdampak positif secara signifikan terhadap kecendeungan berhutang. Tidak terdapat bukti signifikan bahwa pengalaman keuangan berpengaruh terhadap kecenderungan berhutang. Selain itu, materialisme secara signifikan memediasi pengaruh nilai uang terhadap kecenderungan berhutang. Temuan ini merekomendasikan indvidu untuk tidak memandang uang dan kepemilikan barang mewah sebagai sesuatu hal paling penting dalam hidup agar mereka bisa terhindar dari kecenderungan berhutang yang berlebihan.
Pengujian model kesejahteraan keuangan : Studi komparasi masyarakat berpenghasilan tinggi dan rendah Shintani, Nadella Putri; Iramani, Rr; Lutfi
Jurnal Ilmu Manajemen Vol. 13 No. 1 (2025)
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/jim.v13n1.p186-198

Abstract

Financial well-being is one of the most critical issues in financial research. Financial well-being is when a person feels comfortable and satisfied and does not feel depressed or worried about their financial condition. The study examines the effect of financial knowledge and experience on the financial well-being of high and low-income communities. The sample was taken using purposive sampling. Data is collected using a survey method, and questionnaires are distributed to respondents according to the criteria. The data analysis used is SEM-PLS.  The results of this study prove that financial experience has a positive effect on financial well-being, while financial knowledge has no impact on financial well-being. Another interesting finding of this study is that financial behaviour can mediate the effects of financial experience on financial well-being in both high and low-income communities. This result implies that people should improve their financial expertise to improve their financial well-being. High financial experience supported by good financial behaviour will give a person a high perception of financial well-being because of a sense of satisfaction and comfort and the ability to not feel worried or depressed about their financial condition.
The Interplay Of Macroeconomic Factor, Risk, And Bank Market Value: The Mediating Effect Of Profitability And The Moderating Role Of Size Ardhianti, Christin; Lutfi, Lutfi
INVENTORY: JURNAL AKUNTANSI Vol. 9 No. 1 (2025)
Publisher : Prodi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas PGRI Madiun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25273/inventory.v9i1.22248

Abstract

The research examines the interplay between macroeconomic factors, risk, and the market value of banks in Indonesia, with profitability acting as a mediator and bank size as a moderator. The study focuses on 24 conventional commercial banks listed on the Indonesia Stock Exchange from 2018-2023, totaling 170 bank-year observations. Using panel data analysis, the research tests how economic growth, credit risk, and liquidity risk affect bank market value, measured by Price-to-Book Value (PBV). Profitability, represented by Return on Assets (ROA), mediates the relationship between these factors and market value, with a specific focus on bank size's moderating role. The results show that profitability positively impacts market value, as do economic growth and liquidity risk, while credit risk has a negative effect. The study confirms that bank size strengthens the effect of profitability on market value but does not directly influence firm value. Robustness tests using Robust Standard Error and Generalized Method of Moments confirm the model's reliability. Policy implications suggest that banks should enhance profitability through effective risk management, especially credit risk, and leverage their size for competitive advantage. Practically, the findings stress the importance of liquidity management and macroeconomic stability in boosting bank market value in emerging economies.
Liquidity Risk and The Impact of Credit Growth on Profitability in Rural Banks: The Moderating Role of Bank Size Abadi, Andreas Roy Dirgantara; Lutfi, L.
Golden Ratio of Finance Management Vol. 5 No. 2 (2025): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v5i2.1569

Abstract

This study examines how liquidity risk, credit growth, and third-party funding composition influence the profitability of Rural Banks (BPR), with bank size as a moderating factor. Using panel data from 22 conventional BPRs between 2019 and 2023 and applying a fixed-effect regression model, the results show that liquidity management and bank size are closely linked to higher profitability. Credit growth alone, however, is associated with reduced returns, but its interaction with bank size leads to improved performance. This indicates that larger banks are better equipped to handle the risks of rapid credit expansion, while smaller banks may face challenges. The composition of third-party funds shows little direct effect on profitability. The findings carry important practical implications. For bank managers, the results highlight the importance of balancing credit expansion with strong internal controls and prudent risk management, particularly in smaller institutions. Regulators such as OJK are encouraged to consider bank size when designing supervisory frameworks and early warning systems, to ensure sustainable financial performance in the rural banking sector.
Internal Financial Determinants of Profitability: Evidence From Rural Banks in Indonesia Arnanto, Tito Teguh; Lutfi, L.
Golden Ratio of Finance Management Vol. 5 No. 2 (2025): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v5i2.1605

Abstract

Rural banks (BPR) in Indonesia face persistent challenges of low profitability, weak capital adequacy, and high credit risk, despite their vital role in financing micro and small enterprises. This study investigates how internal financial indicators—Capital Adequacy Ratio (CAR), Non-Performing Loans (NPL), Loan to Deposit Ratio (LDR), Cash Ratio (CR), and Operating Expenses to Operating Income (BOPO)—affect profitability, measured by Return on Assets (ROA), in rural banks under the OJK Jember jurisdiction during 2021–2023. Using purposive sampling, 33 rural banks were selected, and panel data regression with the Random Effects Model was applied following Chow, Hausman, and Breusch-Pagan LM tests. The results indicate that BOPO has a significant negative impact on ROA, highlighting operational efficiency as the primary determinant of profitability. By contrast, CAR, NPL, LDR, and CR exhibit no significant individual effects, although collectively they explain 88.03% of ROA variation. These findings confirm that efficiency drives profitability in small-scale financial institutions, while other financial ratios exert joint but indirect influence. This study contributes to the literature by clarifying the relative importance of efficiency in rural banking. It provides practical implications for managers and regulators to strengthen cost control, prudent lending, and liquidity management, thereby promoting sustainable performance.
Co-Authors Abadi, Andreas Roy Dirgantara Antika Budiningrum Ardhianti, Christin Arief, Moch Arnanto, Tito Teguh Astri Kusuma Wardani Dela Renta, Yolanda Dwiyanti, Elicia Aprillia Elma Hariani Farach Aliyyah Putri Suryadie Firdaus, Dimas Gita Ramadhan Husna, Nur Af’idatul Indria Fatmawati Iramani, Rr Iswinarti Margiana Jihan Zakiyah Permana Kiki Marti Diana Maulidatur Rohmah Meliza Silvy Nadya Septi Nur Aini Nur'aini Rokhmania Putri Asiza Agustien Aulia Rahmah Reni Tri Purniawati Ririn Poerwanti Poerwanti Rr. Iramani Satrida, Galuh Selian, Mardiah Mutiara Puspitasari Shintani, Nadella Putri Sofi Ariani Soni Harsono Susilowati, Arlianti Agil Tirani Rahma Brilianti Tomi Arganata Uswatun Hasanah Utami Tyas Vita Prihatiningrum Yulian Belinda Yurisha Ramadhani Putri