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All Journal Petra International journal of Business Studies (IJBS) Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC) International Journal of Economics and Management Sciences
Benny Budiawan Tjandrasa
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Religion Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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Foreign Investors and Control Power of Company Engaged in Energy and Basic Materials through Global Energy Crisis in Indonesia Regina Maharani Parameswari Sapsudin; Erman Sumirat; Benny Budiawan Tjandrasa
Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences Vol 5, No 1 (2022): Budapest International Research and Critics Institute February
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i1.4248

Abstract

This study aims to investigate the control power of foreign investors that can weaken the domestic position in managing Indonesia's natural resources when facing the global energy crisis. The control power is reflected in financial decision-making, which consists of investment decisions, funding decisions, and dividend decisions. The sample companies in this study are listed on IDX in the energy and basic materials sector in 2020, where supercycle commodities occurred. The total sample is 166 companies, with 66 companies to be observed. Using multilinear regression using ROA and Tobin's Q as control variables, the authors find the effect on investment decision making where foreign investors have a significant positive in company liability. However, its effect is negative on company equity. Foreigner investors also influence funding decisions where foreign investors have a significantly positive effect on firm size. However, foreign investors have a significantly negative effect on the decision-making of dividends.
The Effects of Personality Types and Demographic Factors on Overconfidence Bias and Decision Making of Investment Types Benny Budiawan Tjandrasa; Jacqueline Mariae Tjandraningtyas
Petra International Journal of Business Studies Vol. 1 No. 2 (2018): DECEMBER 2018
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (316.656 KB) | DOI: 10.9744/ijbs.1.2.57-62

Abstract

In financial management theories an investor will act rationally and make a desicion to invest based on the rules in the financial management theory. Nevertheless, in reality the decision making to invest is very often irrational and not in accordance with the financial management theory. This deviation is caused by the bias of investors’ behaviour in making a decision. Investors who only focus on the return of an investment without paying attention to the risks are said to experience overconfidence bias. This research analyses the factors which are considered to influence investors with overconfidence bias in deciding the investment types. The factors are personality type, marital status, income level, work experience, and fields of study that have been taken. This research can contribute to completing the study of financial management, particularly in the investment decision and putting psychological factors in the analysis of financial management
Modeling Business Performance and Macroeconomic Factors to Explain Stock Market Returns in LQ45 Indonesia Stock Exchange (IDX) Benny Budiawan Tjandrasa
Petra International Journal of Business Studies Vol. 2 No. 1 (2019): JUNE 2019
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (271.162 KB) | DOI: 10.9744/ijbs.2.1.36-43

Abstract

The purpose of this study is to confirm the effect of business performance and macroeconomics on stock returns in the industrial sector in the Indonesia Stock Exchange LQ45 index. This study examines eight variables from business performance and macroeconomics, namely: current ratio, debt-equity ratio, total asset turnover, return on equity, inflation rate, interest rate, exchange rate, and political stability to be tested for the effect on the stock return of the industrial sector. Using Generalized Least Square techniques, it is concluded that the Industrial sector in the Indonesia Stock Exchange is strongly influenced by macroeconomic factors rather than business performance factors. This is common in capital markets which are mostly dominated by foreigners because foreign investors are very sensitive to changes in a country's macroeconomic conditions especially if it is related to political conditions. From the iteration results, there are two multivariate regression models which are statistically considered the most suitable. The originality of this study is to prove statistically that political stability is very influential on LQ45 stock returns in the industrial sector on the Indonesia Stock Exchange
The Influence of Inflation Rate, Exchange Rate, Corruption Control, and Political Stability to Indonesian Goverment Bond Yield Benny Budiawan Tjandrasa; Agus Ariwibowo; Rofinus Jewarut
Petra International Journal of Business Studies Vol. 3 No. 1 (2020): JUNE 2020
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (368.679 KB) | DOI: 10.9744/ijbs.3.1.18-22

Abstract

As a developing country that still has to develop in all fields and to maintain its economic development, the Indonesian government requires significant funds for development. To fulfill the lack of funds obtained from the tax, the Indonesian government sells bonds. Indonesia's 10-year government bonds are known as Surat Utang Negara (or abbreviated as SUN). This study aims to confirm whether the inflation rate, exchange rate, political stability, and corruption control affect the yield of SUN. The research uses descriptive methods and explanatory studies with secondary data based on systematic sampling of periods chosen from January 2013 to December 2019. Multivariate regression equation models were used with a significance level of 5% for the t-test. The conclusions are: partially and simultaneously inflation rate, exchange rate, control corruption, and political stability have a significant effect on the Indonesian Government Bond. This research found that deteriorating political stability and control corruption would cause government bond yields to increase
AN ANALYSIS OF MACROECONOMIC INDICATORS ON EXCHANGE RATES IN INDONESIA Raka Putri Agfial; Benny Budiawan Tjandrasa
International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC) Vol. 2 No. 6 (2024): December
Publisher : ZILLZELL MEDIA PRIMA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61990/ijamesc.v2i6.379

Abstract

Elections represent a significant political event in Indonesia, often leading to fluctuations in the financial sector. The impact of these fluctuations can be observed through the trends in the Composite Stock Price Index (IHSG) and the exchange rate during presidential election periods. Historical data from presidential elections between 2009 and 2019 indicates a consistent increase in both the IHSG and the exchange rate. However, the 2024 presidential election presents an unusual scenario where the IHSG shows a strengthening trend leading up to the election, while the Indonesian rupiah remains weak against foreign currencies, particularly the USD. Following a decline in the IHSG, the rupiah experienced a sharp drop. Consequently, this study aims to elucidate the determinants of the exchange rate by examining several macroeconomic variables, including Gross Domestic Product (GDP), global oil prices, the budget deficit, foreign direct investment, inflation, and interest rates. Utilizing time series data from 1991 to 2023 in Indonesia and employing multiple linear regression analysis, the research identifies that global oil prices significantly influence the exchange rate by positively moderating the effect of GDP. Additionally, interest rates are found to have a significant negative impact on the exchange rate.
Factors Predicting Financial Distress Retail Industry in Indonesia Dini Iskandar; Herlina Herlina; Ida Ida; Sophia Isabella Wattimena; Benny Budiawan Tjandrasa
International Journal of Economics and Management Sciences Vol. 2 No. 3 (2025): Agustus : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v2i3.867

Abstract

The Indonesian retail industry has experienced significant changes during the 2020-2023 period, starting with the Covid-19 pandemic in early 2020. Although it is gradually showing signs of recovery, the companies have felt a huge impact, such as many stores closing, increasing operational costs, and decreasing consumer spending, which are challenges for retail business actors to maintain their business continuity. This study aims to determine the factors that can be predictors of the financial distress of retail industry companies in Indonesia. The sample in this study was retail industry companies listed on the Indonesia Stock Exchange for the 2019-2023 period and had complete financial reports, resulting in 10 companies. Data analysis uses the logistic regression method. The results of the study show that the debt-to-equity ratio (DER) and return on asset (ROA) have a significant effect, while the current ratio (CR), total asset turnover (TATO), and operational cash flow margin (OCF margin) do not have a significant effect on financial distress. Thus, retail industry companies can utilize debt as a financing strategy to accelerate growth and need to focus on efficient asset utilization so that they can increase revenue and profit margins in order to achieve better financial performance and reduce the risk of financial distress.
BUSINESS DEVELOPMENT STRATEGY TO IMPROVE COMPETITIVENESS IN ANTI-AGING CLINIC USING SWOT APPROACH ANALYSIS AND BUSINESS MODEL CANVAS (BMC) APPROACH Hani Surjati; Maya Malinda; Benny Budiawan Tjandrasa
International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC) Vol. 2 No. 4 (2024): August
Publisher : ZILLZELL MEDIA PRIMA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61990/ijamesc.v2i4.268

Abstract

Elderly individuals have a substantial risk of suffering from chronic diseases that require high medical costs, both financially and in terms of time needed. It is important to pay attention to the quality of life of the elderly to reduce the burden of dependency. PT X has opened an Anti-Aging Clinic with the aim of providing services in preventing the decline in cell quality (anti-aging) to enhance the productive activities of the elderly. The main aim of this research is to analyze the SWOT followed by Business Model Canvas (BMC) and Value Proposition Canvas (VPC) analysis. The research method used is descriptive with a qualitative approach, and the data analysis technique uses SWOT including IFAS and EFAS, BMC analysis, and VPC. Data collection techniques include observation with documentary studies and secondary data. The Anti-Aging Clinic is in a hold and maintain position. The results serve as the basis for BMC mapping and VPC determination, especially in improving products and services. From its implementation, key activities are the main key to the clinic's management process that needs to be strengthened through market penetration and product development processes.
Co-Authors Agus Ariwibowo Dini Iskandar Erman Sumirat Hani Surjati Herlina Herlina Ida Ida Maya Malinda Raka Putri Agfial Regina Maharani Parameswari Sapsudin Rofinus Jewarut Sophia Isabella Wattimena Tjandraningtyas, Jacqueline Mariae Yosua Siregar