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All Journal Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) Jurnal Ilmu Manajemen (JIM) El Dinar Journal of Economics, Business, & Accountancy Ventura 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 Jurnal Riset Bisnis dan Manajemen Jurnal Kedaymas Jurnal Iqtisaduna Golden Ratio of Finance Management Ekombis Sains: Jurnal Ekonomi, Keuangan dan Bisnis JPS (Jurnal Perbankan Syariah) E-JURNAL AKUNTANSI
Lutfi Lutfi
Universitas Hayam Wuruk Perbanas
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Industrial & Manufacturing Engineering Other

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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.
Determinan Kesejahteraan Keuangan: Peran Mediasi Perencanaan Keuangan Farach Aliyyah Putri Suryadie; Lutfi Lutfi
E-Jurnal Akuntansi Vol 33 No 2 (2023)
Publisher : Accounting Department, Economic and Business Faculty of Universitas Udayana in collaboration with the Association of Accounting Department of Indonesia, Bali Region

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2023.v33.i02.p01

Abstract

Financial well-being is a problem for society in Indonesia today as reflected in the increasing poverty rate in 2021. The study intends to explore the determinants of financial well-being which include internal locus of control, financial experience, financial planning, and demographic factors of marital status. This study aims to determine the role of financial planning in mediating the effect of financial experience on financial management and to what extent marital status moderates the mediated relationship. The research sample is 160 families living in the cities of Surabaya, Sidoarjo and Gresik. Hypothesis testing was carried out using partial least squares structural equation modeling (PLS-SEM). The results of the study prove that locus of internal control, financial experience, financial planning, and marital status significantly increase financial well-being. The research findings also prove that financial planning mediates the effect of financial experience on financial well-being. Research implies the importance of someone to carry out financial planning earlier, be more able to control themselves, and increase experience related to financial products in order to improve financial well-being. Keywords: Financial Well-Being; Financial Planning; Internal Locus of Control; Financial Experience; Marital Status
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): INVENTORY
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.
The Effect Of Financial Technology And Financial Capability On Financial Satisfaction With The Mediation Of Financial Behavior Margiana, Iswinarti; Lutfi, Lutfi
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Vol 13 No 4 (2025): Oktober
Publisher : UNIVED Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/ekombis.v13i4.9400

Abstract

This study aims to analyze the effect of Financial Technology and Financial Capability on Financial Satisfaction with Financial Behavior as a mediating variable. The research was conducted on household financial managers in Pasuruan City using a quantitative survey approach. The sampling technique combined purposive and snowball sampling, and the collected data were analyzed using Partial Least Squares (PLS-SEM). The results indicate that Financial Technology, Financial Capability, and Financial Behavior each have a positive and significant effect on Financial Satisfaction. Furthermore, Financial Behavior was found to partially mediate the relationship between Financial Technology and Financial Satisfaction, but it did not significantly mediate the relationship between Financial Capability and Financial Satisfaction. These findings highlight that while financial technology adoption and financial capability directly enhance satisfaction, financial behavior plays a crucial role in strengthening the positive effect of technology adoption. The study contributes both theoretically and practically by providing empirical evidence on the role of financial behavior in the digital era and offering insights for policymakers and financial institutions to design more effective financial literacy and inclusion strategies.
THE EFFECT OF MATERIALISM AND FINANCIAL KNOWLEDGE ON FINANCIAL STRESS: THE ROLE OF PRESENT FATALISTIC AND MARITAL STATUS Lutfi, Lutfi; Firdaus, Dimas Gita Ramadhan; Dwiyanti, Elicia Aprillia; Dela Renta, Yolanda
Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 11, No 3 (2022): Jurnal Ekonomi Bisnis dan Kewirausahaan (JEBIK)
Publisher : Fakultas Ekonomi dan Bisnis, UNTAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (421.615 KB) | DOI: 10.26418/jebik.v11i3.54726

Abstract

The conditions of the Covid 19 outbreak during 2019 and 2020 made some people lose their jobs or income, which resulted in increased financial pressures. This research examines the influence of present fatalistic, materialism, financial knowledge, and marital status on financial stress. Data were collected using a questionnaire. The number of samples that can be processed in the study was 484 respondents. The analysis technique used is the partial least squares structural equation modeling (PLS-SEM). The direct test results show that present fatalistic and materialism significantly increase financial stress, while financial knowledge and marital status reduce financial stress. Present fatalistic has been shown to positively mediate materialism's effect on financial stress. Meanwhile, marital status strengthens the negative influence of financial knowledge on financial pressure. It means that marital status encourages someone with good financial knowledge to use their ability to manage their finances to avoid financial stress. This study recommends to the public the importance of controlling materialistic behavior, reducing hopelessness, and increasing self-control to reduce financial pressureJEL : D12, D14.ABSTRAKKondisi wabah Covid 19 selama tahun 2019 dan 2020 membuat sebagian masyarakat kehilangan pekerjaan atau penghasilannya, yang mengakibatkan tekanan keuangan semakin meningkat. Penelitian ini menguji pengaruh fatalistik masa kini, materialisme, pengetahuan keuangan, dan status perkawinan terhadap tekanan keuangan. Pemilihan sampel didasarkan pada metode purposive sampling, dan pengumpulan data dilakukan dengan menggunakan kuesioner. Jumlah sampel yang dapat diolah adalah 484 responden. Teknik analisis yang digunakan adalah Partial Least Square Structural Equation Modeling (PLS-SEM). Hasil pengujian pengaruh langsung menunjukkan bahwa fatalistik masa kini dan materialisme secara signifikan meningkatkan tekanan keuangan, sedangkan pengetahuan keuangan dan status perkawinan mengurangi tekanan keuangan. Fatalistik masa kini terbukti secara positif memediasi pengaruh materialisme pada tekanan keuangan. Sementara itu, status perkawinan memperkuat pengaruh negatif pengetahuan keuangan terhadap tekanan keuangan. Hal ini berarti bahwa status perkawinan mendorong seseorang yang memiliki pengetahuan keuangan yang baik untuk menggunakan pengetahuan tersebut dalam mengelola keuangannya agar terhindar dari tekanan keuangan. Studi ini merekomendasikan kepada masyarakat pentingnya mengendalikan perilaku materialistis, mengurangi keputusasaan, dan meningkatkan pengendalian diri untuk mengurangi tekanan keuangan.Kata Kunci : tekanan keuangan, materialisme, pengetahuan keuangan, fatalistik masa kini, status perkawinan.
Determinants Of Islamic Bank Financing During Economic Turbulence Selian, Mardiah Mutiara Puspitasari; Lutfi, Lutfi
JPS (Jurnal Perbankan Syariah) Vol 5 No 1 (2024): JPS (Jurnal Perbankan Syariah) - April
Publisher : LPPM ISNJ Bengkalis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46367/jps.v5i1.1615

Abstract

The Covid-19 outbreak has caused turbulence in Indonesia's economic growth, thereby disrupting the performance of Islamic banks, especially in the distribution of financing. This research examines the influence of economic turbulence, third-party deposits, bank size, capital and profitability on financing disbursed by Islamic banks in Indonesia. The population of this research is Islamic commercial banks in Indonesia in the 2017-2022 period. The sample selection used a purposive sampling method and obtained ten Islamic banks. The data analysis technique uses panel data analysis with a fixed effect model. The research results prove that third-party deposits positively and significantly impact financing, while bank size and capital negatively and significantly impact financing. However, economic turbulence and profitability do not affect financing. When financing is divided based on contracts, economic turbulence negatively impacts profit-sharing-based financing, and profitability negatively impacts receivables-based financing. These findings can be a reference for Islamic banks to maintain the availability of third-party deposit funds to support financing expansion and further optimize their capital by channelling it to more productive assets in the form of financing. These findings can complement existing theories and support the business cycle theory that Islamic banks tighten financing based on profit sharing, which carries higher risks.
Co-Authors Abadi, Andreas Roy Dirgantara Antika Budiningrum Ardhianti, Christin 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 Jihan Zakiyah Permana Kiki Marti Diana Margiana, Iswinarti 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 Vita Prihatiningrum Yulian Belinda Yurisha Ramadhani Putri