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Behavioral Analysis of MSME Owners in Subang Regency to Adopt Islamic P2P Lending Platform Elsa Hapsari, Renata; Rahadian, Dadan
Enrichment: Journal of Multidisciplinary Research and Development Vol. 3 No. 6 (2025): Enrichment: Journal of Multidisciplinary Research and Development
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/enrichment.v3i6.444

Abstract

Technological advancements are fostering financial growth and inclusion in this era of globalization, particularly for Islamic P2P lending companies in Indonesia. Islamic P2P lending provides MSMEs with easier access to financing. However, to enhance its development by connecting between MSME needs and services offered by Islamic P2P lending providers. The objective of this study is to analysis MSME owner’s behavior and their interest in adopting Islamic P2P lending platforms, especially in rural areas. UTAUT2 model is utilized in this study. Data were collected from 104 MSME owners as respondents through a questionnaire survey, then analyzed using PLS-SEM techniques. Within eight constructs tested, there are four constructs that have a significant effect including Hedonic motivation, Price Value, Habit, and Perceived Security & Risk. Age moderates the Hedonic Motivation while Gender has no moderating effect. R-square of the inner model test is 0.640. The insights and findings of this study can be beneficial for Islamic P2P lending companies in Indonesia by identifying key factors that influence MSMEs' decisions to adopt the platforms.
Business Model of Insurance Technology Company in Indonesia (Case Study on Premiro.com) Rahadian, Dadan; Krisnawati, Astrie; Sulistio, Farrastya Ayuningrum
East Asian Journal of Multidisciplinary Research Vol. 3 No. 8 (2024): August 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/eajmr.v3i8.10539

Abstract

The rapid increase in internet usage in Indonesia has fueled the rise of Insurtech, addressing low literacy, inclusion, and insurance penetration levels. Insurtech companies are pivotal in offering digital-based insurance services to increase insurance users. This research examines the business models employed by Indonesian Insurtech firms, focusing on a case study of Premiro.com. The study also aims to identify the strengths that provide these companies with competitive advantages. Utilizing a descriptive research methodology and a qualitative approach, the research includes interviews and secondary data collection through literature reviews and company information. The analysis employs the Business Model Canvas and Value Design Model frameworks. The study details Premiro's business model elements: customer segments, value proposition, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. It also examines value drivers, nodes, exchanges, and extracts. Findings reveal Premiro's strength lies in its lean and efficient cost structure. The study offers practical recommendations for Premiro to enhance operational effectiveness, expand market share, and boost competitiveness.
Business Model of Indonesian Fintech Crowdfunding Aqmalia, Wima Rizky; Dadan Rahadian; Astrie Krisnawati
Indonesian Journal of Business Analytics Vol. 4 No. 4 (2024): August 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v4i4.10810

Abstract

Fintech crowdfunding has emerged as one of the most widely used for entrepreneurs which starts their businesses. However, fintech crowdfunding isn't growing in the same way as other fintech, thus the business model and strength are yet unidentified. This study's purpose is to identify and analyze the fintech crowdfunding business model alongside its strengths. This study method takes a qualitative approach. The data was processed using NVIVO 14. This study focuses on fintech crowdfunding licensed by the Financial Services Authority. The study results show that the fintech crowdfunding business model concept is network-centric and emphasizes the value exchange between all of the model elements. The value proposition and key activity are the aspects that make fintech equity crowdfunding effective.
Stock Valuation on Energy Sector Companies within IDX High Dividend 20 Index Year 2025 Alpharianto, Argari; Rahadian, Dadan
Asean International Journal of Business Vol. 5 No. 1 (2026)
Publisher : Asosiasi Dosen Peneliti Ilmu Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54099/aijb.v5i1.1455

Abstract

The energy sector constitutes one of the largest component of the IDX High Dividend 20 Index for 2025, comprising five companies such as ADRO, AKRA, ITMG, PGAS, and PTBA. Over the past three years, this sector has exhibited the strongest upward trajectory, achieving a cumulative growth rate of 136% and an average annual return of 18.52% among these companies, thereby underscoring its appeal to dividend-seeking investors. This study examines the intrinsic value of five said companies using the Dividend Discount Model (DDM) and two relative valuation metrics (EV/EBITDA and Price to Earnings Ratio or PER). Under the DDM framework, ADRO, ITMG, and PTBA appear as undervalued relative to their intrinsic value, while AKRA and PGAS appear overvalued. When benchmarked against the sector’s mean EV/EBITDA and PER, all five companies register as undervalued. However, comparing company multiples to the sector median EV/EBITDA recasts AKRA as overvalued, PTBA as fairly valued, and the remaining three as undervalued. A parallel comparison using the sector median PER identifies AKRA as overvalued, with the other four companies maintaining undervalued status. On the basis of these findings, investors may prioritize acquisitions of ADRO and ITMG shares, given their consistent undervaluation across all models. AKRA and PGAS warrant caution due to overvaluation in at least one metric. PTBA merits continued monitoring, as it is fairly valued on an EV/EBITDA basis yet undervalued when assessed by PER and DDM valuation.