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Corporate Governance Terhadap Peringkat Obligasi Pada Perusahaan Korporasi Dalam Perspektif Agency Theory Pada Periode 2016-2020 Balatif, Rijal; Harahap, Annisa Maulida; Sadalia, Isfenti
BISMA Cendekia Vol. 2 No. 2 (2022): BISMA Cendekia - Januari 2022
Publisher : Politeknik Cendana

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Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh Corporate Governance terhadap peringkat obligasi perusahaan yang terdaftar di BEI (Bursa Efek Indonesia) periode 2016-2020. Secara khusus peneliti ini meneliti pengaruh kepemilikan institusional, kepemilikan manajerial, ukuran dewan komisaris, komisaris independen dan komite audit. Populasi yang digunakan pada penelitian ini adalah obligasi korporasi yang diterbitkan oleh perusahaan yang terdaftar di BEI periode 2016-2020. Obligasi ini diperingkat oleh lembaga pemeringkat yaitu Pefindo. Metode penentuan sampel menggunakan metode purposive sampling, jumlah sampel sesuai kriteria yang ditentukan adalah 7 sampel obligasi korporasi. Metode analisis menggunakan logistic regression ordinal. Berdasarkan hasil analisis pengaruh kepemilikan manajerial dan ukuran dewan komisaris berpengaruh positif dan tidak signifikan terhadap peringkat obligasi. Penelitian ini gagal membuktikan bahwa kepemilikan institusional tidak berpengaruh signifikan, akan tetapi komisaris independen dan komite audit berpengaruh signifikan terhadap peringkat obligasi yang terdaftar di Bursa Efek Indonesia Periode 2016-2020
Digital Transformation Dynamics: A Comprehensive Analysis of Financial Climate Risk and Leverage on Digital Asset Performance in the Fintech Ecosystem Ajmilia, Qori Fadla; Gea, Edi Zaman Berkat; Sadalia, Isfenti
Jurnal Bisnis dan Manajemen West Science Vol 4 No 01 (2025): Jurnal Bisnis dan Manajemen West Science
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/jbmws.v4i01.1776

Abstract

This study investigates the impact of financial climate risk and financial leverage on digital asset performance within the Indonesian fintech ecosystem. Employing an explanatory quantitative approach with a cross-sectional design, the research analyzed 18 digital financial institutions, including digital banks, fintech platforms, cryptocurrency platforms, digital startups, and digitally transforming conventional banks. Data was collected from secondary sources covering the period 2021-2024, utilizing the Climate Vulnerability Index (CVI), Debt to Equity Ratio (DER), and Digital Asset Performance Index (DAPI). Multiple linear regression analysis was conducted using SPSS to examine the relationships between variables. The findings reveal significant correlations between financial climate risk, financial leverage, and digital asset performance. Climate Vulnerability Index demonstrated a negative relationship, while Debt to Equity Ratio showed a positive relationship with digital asset performance. The research contributes to understanding the complex dynamics of digital financial ecosystems, offering insights for strategic investment and risk management in the evolving digital financial landscape.
Strategic Determinants of Investment Decisions in Digital Assets: A Systematic Exploration of Climate Risks and Investor Knowledge Fitri, Nur Aisyah; Tobing, Ainun Sakinah L; Sadalia, Isfenti
Jurnal Bisnis dan Manajemen West Science Vol 4 No 01 (2025): Jurnal Bisnis dan Manajemen West Science
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/jbmws.v4i01.1777

Abstract

This study aims to analyze the influence of psychological and cognitive factors, specifically climate risk perception and investor knowledge, on digital asset investment decisions. This quantitative associative study was conducted on the KOIN investment community with a population of 1,240 active members. The research sample consisted of 62 respondents selected using purposive sampling method with criteria of experienced digital asset investors. The research instrument utilized a closed Likert scale questionnaire with variables of climate risk perception, investor knowledge, and investment decisions. Data analysis was performed through multiple linear regression testing using SPSS software. The research results demonstrate that climate risk perception and investor knowledge simultaneously significantly influence digital asset investment decisions. Partially, climate risk perception has a significant negative effect, while investor knowledge has a significant positive effect on investment decisions. This study provides theoretical contributions in understanding the psychological dynamics of investors in sustainable digital investment domains.
Determinants of Going Concern Audit Opinions: Auditor Reputation Moderation in Indonesian Hospitality Sector Pasaribu, Muhammad Husein; Erlina; Sadalia, Isfenti
International Journal of Economics, Business and Innovation Research Vol. 5 No. 01 (2026): December - January, International Journal of Economics, Business and Innovatio
Publisher : Cita konsultindo

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Abstract

This study aims to empirically examine the influence of Debt Default, Company Growth, Solvency, and Audit Delay on the acceptance of the Going Concern audit opinion. It also evaluates the role of Auditor Reputation as a moderating variable in strengthening or weakening the relationship between the independent variables and the dependent variable. The population consists of all hotel, resort, and cruise ship companies listed on the Indonesia Stock Exchange during the 2019–2023 period, totaling 30 companies. This study uses secondary data obtained from the official website of the Indonesia Stock Exchange, with sample selection conducted using the census sampling technique. Data analysis was carried out using Eviews software. The results indicate that Debt Default (X1), Company Growth (X2), and Solvency (X3) have a positive and significant effect on Going Concern Audit Opinion (Y). Meanwhile, Audit Delay (X4) has a negative but insignificant effect. Furthermore, Auditor Reputation (Z) significantly moderates the relationship between Solvency (X3) and Going Concern Audit Opinion (Y) with a weakening moderation effect, but does not significantly moderate the effects of Debt Default (X1), Company Growth (X2), and Audit Delay (X4).
THE ANALYSIS ON CANONICAL CORRELATION OF GLOBAL INDEX AND MACRO ECONOMY WITH INDONESIAN CAPITAL MARKET Amir, Afriza; Sadalia, Isfenti; Fachruddin, Khaira Amalia
Jurnal Ekonomi Bisnis Manajemen Prima Vol. 1 No. 2 (2020): Jurnal Ekonomi Bisnis Manajemen Prima
Publisher : JEBIM Prima

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34012/jebim.v1i2.523

Abstract

Capital market is one of the media which gives the opportunity for individual and insttutional investors to invest. The Indonesia Stock Exchange and Indonesian capital market has 11 types of stock priced index which as continously spread through printed and electronic mass media, as one of the guidelines for investor to invest in capital market. The development of indonesian capital market (LQ45 Index and IHSG Index) is closely related to global index and macro economy. The objective of the reseach was to examine the canonical correlation of global index (Dow Jones Index and EIDO Index) and macro economy (Rupiah Exchange Rate and SBI interest rate) with indonesian capital market (LQ45 Index and IHSG Index). The sample were limited to the period of 2011-2013 (36 months).The data were analyzed by using canonical correlation at the significant level of 5%. The result of the research showed that global index (Dow Jones Index and E10) and macro economy (rupiah exchange rate and SBI interest rate) had significant correlation with indonesian capital market (LQ45 and IHSG), with canonical coefficients perfect weight for L045 (1.00) and almost perfect for JCI (0.98). This means that the Dow Jones. EIDO exchange rate, interest rate SBI has a significant positive relationship towards LQ45 Index and IHSG Index are listed on the Indonesia Stock Exchange in the period 2011 to 2013 Individually Dow Jones (0.67), EIDO (0.54) and Exchange Rate (0.37) has a positive relationship with the capital market indices Indonesia (L045 Index and IHSG Index), which means when the Dow Jones. EIDO, and Rupiah Exchange high, then LQ45 and IHSG will be high, or vice versa when the Dow Jones, EIDO, and Exchange Rate is low, then the Index will be lower LQ45 and IHSG. Instead SBI rate (-0.29) had a negative correlation with stock market indices Indonesia (LQ45 Index and IHSG Index), which means if the SBI interest rate is high, then LQ45 and IHSG will be low, or vice versa when the Indonesian interest rate is low, then LQ45 and IHSG will be high