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This Author published in this journals
All Journal Jurnal Ekonika : Jurnal Ekonomi Universitas Kadiri Jurnal Riset Akuntansi dan Keuangan Journal of Entrepreneurship & Business
Liliana Inggrit Wijaya
University of Surabaya
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Corporate Governance, Transparency and Stock Return Synchronicity Werner Ria Murhadi; Liliana Inggrit Wijaya
Journal of Entrepreneurship and Business Vol. 2 No. 1 (2021): Journal of Entrepreneurship and Business (March)
Publisher : Program MM Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (257.714 KB) | DOI: 10.24123/jeb.v2i1.3919

Abstract

This study aims to analyze the effect of corporate governance on transparency as measured by stock return synchronicity. The variables used are board size (commissioner), big4 audit, institutional ownership, market to book, the volatility of firm fundamentals, leverage, and firm size. This study uses a quantitative approach with multiple linear analysis models. This study uses a sample of non-financial business entities listed on the Indonesia Stock Exchange (BEI). The number of samples used in this study was 198 observations. The results showed that the variable board size (commissioner), institutional ownership, and leverage had a positive effect on transparency, and the implied volatility of the firm hurt transparency. Other variables such as big4 audit, market to book ratio, and firm size do not affect transparency.
Determinants of Profitability for Manufacturing Companies in Indonesia 2018-2019 Liliana Inggrit Wijaya; Jennifer Audrey Harjono; Putu Anom Mahadwartha
Jurnal Riset Akuntansi dan Keuangan Vol 10, No 2 (2022): Jurnal Riset Akuntansi dan Keuangan. Agustus 2022 [DOAJ dan SINTA Indexed]
Publisher : Program Studi Akuntansi FPEB UPI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/jrak.v10i2.45199

Abstract

Profitability has become one of the most researched topics. However, some of studies have different results. This study is aimed to gain a better understanding of some factors that might have significant effects on profitability. This study examines the influences of internal and external factors on the profitability of companies within the manufacturing sector listed in the Indonesia Stock Exchange (BEI) during 2018-2020. This research utilizes secondary data and a quantitative approach through multiple linear regression. This study includes profitability as dependent variable, with firm size, firm age, liquidity, capital structure, firm growth, capital intensity, and macroeconomic indicator as independent variable. There are 789 observations that used within the study. These observations consisted of 263 companies in 3 years. Firm size, firm age, liquidity, firm growth, capital intensity, and macroeconomic indicator have significant and positive effect on profitability. Capital structure is found to have significant and negative influence on profitability. Keywords. Profitability; Liquidity; Firm Growth; Capital Intensity.
Analyzing the Impact of Heuristic Biases on Investment Decisions Through Risk Tolerance: Evidence from Generation Z Investors in Indonesia Stievanie; Bertha Silvia Sutejo; Liliana Inggrit Wijaya
Ekonika : Jurnal Ekonomi Universitas Kadiri Vol. 11 No. 1 (2026): April 2026
Publisher : Fakultas Ekonomi Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/ekonika.v11i1.7001

Abstract

This study aims to examine the influence of heuristic biases, specifically overconfidence bias, availability bias, and representativeness bias on investment decisions among Generation Z investors in Indonesia, with risk tolerance serving as a mediating variable. The research replicates and extends previous models by incorporating representativeness bias into the framework. Using a quantitative approach, data were collected through an online questionnaire distributed to 208 respondents who met the specified sampling criteria. The data were analyzed using Structural Equation Modeling (SEM) with AMOS software. The results indicate that availability bias, representativeness bias, and risk tolerance have a significant positive effect on investment decisions, while overconfidence bias does not directly influence them. Additionally, overconfidence bias, availability bias, and representativeness bias significantly affect risk tolerance. The mediation analysis shows that risk tolerance mediates the relationship between availability bias and representativeness bias with investment decisions, but does not mediate the relationship between overconfidence bias and investment decisions. These findings highlight the significant role of cognitive biases and risk tolerance in shaping the investment behavior of Generation Z investors in Indonesia. The study contributes to behavioral finance literature by providing evidence on how psychological factors and cognitive tendencies influence financial decision making.
Co-Authors Bertha Silvia Sutejo Deddy Marciano Ivan Chandra Tanzil Jennifer Audrey Harjono Putu Anom Mahadwartha Stievanie Werner R Murhadi