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All Journal Jurnal Ekonomi Jurnal Manajemen Teknologi Jurnal Ilmiah Ranggagading (JIR) TEKMAPRO Journal of Industrial Engineering and Management JAM : Jurnal Aplikasi Manajemen Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal Fundamental Management Journal Akuisisi : Jurnal Akuntansi EKONOMIS : Journal of Economics and Business JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi) Jurnal Penelitian Kelapa Sawit Owner : Riset dan Jurnal Akuntansi Jurnal ULTIMA InfoSys Jurnal Manajemen Management Science Research Journal JRAP (Jurnal Riset Akuntansi dan Perpajakan) Eduvest - Journal of Universal Studies Proceeding of International Conference on Entrepreneurship (IConEnt) fundamental management journal International Research Journal of Business Studies
Roy Sembel
BINUS BUSINESS SCHOOL, BINUS UNIVERSITY, JWC Campus, Jl. Hang Lekir I No. 6, Kebayoran Baru, South Jakarta 12120
Aerospace Engineering Agriculture, Biological Sciences & Forestry Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering Health Professions Industrial & Manufacturing Engineering Neuroscience Social Sciences

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Meningkatkan Financial Management Behavior dan Investment Decision Making melalui Financial Knowledge, Attitude, dan Emotional Intelligence dengan Risk Perception Satriadi, Dharma; Manurung, Adler Haymans; Sembel, Roy; Sutawidjaya, Ahmad Hidayat
JRAP (Jurnal Riset Akuntansi dan Perpajakan) Vol. 10 No. 2 (2023): Juli - Desember
Publisher : Magister Akuntansi Universitas Pancasila

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35838/jrap.2023.010.02.14

Abstract

The objective of this study is to analyze the determinants of financial management behavior, specifically financial knowledge, financial attitude, and emotional intelligence on investment decision making with Risk Perception as a moderator. Using the Structural Equation Modeling – Partial Least Square analysis method, this study was conducted on a sample of 105 managers from Karawang International Industrial City. Financial Knowledge does not support Financial Management Behavior, Financial Attitude has a positive effect on Financial Management Behavior, Emotional Intelligence has a positive effect on Financial Management Behavior, Financial Knowledge does not support Investment Decision Making, Financial Attitude does not support Investment Decision Making, Emotional Intelligence has a positive effect on Investment Decision Making, Financial Management Behavior does not support Investment Decision Making, and Financial Attitude does not support Investment Decision Making. This research indicates the need to develop a financial education program that focuses on increasing financial knowledge and attitudes for managers, as well as paying attention to the development of emotional intelligence in order to improve the quality of their investment decision making.
The impact of macroeconomic variables and the volatility index (VIX) on the Indonesian Composite Index Winarno, Dwi; Manurung, Adler Haymans; Sembel, Roy; Hardiyanti, Siti Epa
Management Science Research Journal Vol. 2 No. 3 (2023): August 2023
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56548/msr.v2i3.61

Abstract

This study investigates the relationship and influence between variables in the context of the Indonesian Composite Stock Price Index (IHSG). The Vector Error Correction Model (VECM) is estimated using a dataset with a complete sample size of 32 and a final sample size of 27. The results of the study show that the IHSG has a significant influence on its own movement in each period, indicating a self-reinforcing pattern. The VIX index shows a significant negative influence on changes in IHSG in the previous period, indicating the impact of market volatility on the IHSG. On the other hand, variables such as Gross Domestic Product (GDP), Inflation, and Bank Indonesia's Middle Exchange Rate (Middle Rate BI) do not show a significant influence on changes in IHSG in the previous period. Furthermore, the analysis of long-term influence indicates that changes in IHSG in the previous period have a significant negative influence on changes in IHSG in the current period, reflecting a tendency towards long-term equilibrium. The VIX index also shows a significant positive influence on changes in IHSG in the current period, indicating short-term volatility effects. However, GDP, Inflation, and Middle Rate BI do not have a significant influence on changes in IHSG in the current period
The Measurement of Efficiency and Analysis of Factors Affecting Conventional Commercial Banks in Indonesia Aziz, Lukmanul Hakim; Manurung, Adler Haymans; Sembel, Roy; Imron, Ali
Management Science Research Journal Vol. 2 No. 3 (2023): August 2023
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56548/msr.v2i3.63

Abstract

The purpose of this research is to measure the level of efficiency of conventional commercial banks in Indonesia with input variables that are thought to influence output variables using non-parametric methods using the Data Envelopment Analysis (DEA) model and then to analyze the factors that affect the levels of bank efficiency. The object of this study consisted of 12 (twelve) Conventional Commercial Banks in Indonesia which were analyzed from 2012 to 2021. Overall, the results show that the level of efficiency of Conventional Commercial Banks in Indonesia during the period of this study, has not yet reached an optimal level of effectiveness. The factors that significantly affect the level of efficiency of conventional commercial banks are Concentration Ratio 4 (CR4), Market Share (MS), Lerner Index (LI), Loan to Deposit Ratio (LDR) and Capital Adequacy Ratio. (CAR). While the factors that do not affect the level of efficiency of conventional commercial banks are Return on Assets (ROA) and Non-Performing Loans. (NPL).
Ownership and Determinants Capital Structure of Public Listed Companies in Indonesia: a Panel Data Analysis Hardiyanto, Arief Tri; Achsani, Noer Azam; Sembel, Roy; Maulana, Tb. Nur Ahmad
International Research Journal of Business Studies Vol. 6 No. 1 (2013): April - July 2013
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.6.1.29-43

Abstract

Capital structure is a mix of debts and equities used by a company to finance its investment. Debt offers benefit of tax shield from interest expenses that can be deducted in calculating company income tax. Unfortunately, company can not use debts in unlimited amount because it will lead to risk of bankcrupt. Therefore, company needs to establish a target (unobserved) capital structure which will optimize the value of the firm. The purpose of this study is to investigate the determinant of capital structure and ownership in public listed companies in Indonesia Stock Exchange using Time-Series CrossSection Regression (TSCSREG) and supported with a balanced panel data. Data used are financial statements of 228 public listed companies from group of eight industry sectors. Research finding confirms that tax shield and fixed financial burden are significantly influence the capital structure and state ownership also significantly influence the capital structure of the state owned enterprises.
Co-Authors Adler H. Manurung Adler Haymans Manurung Ali Imron Apriadi, Intan Aristo Purboadji Aziz, Lukmanul Hakim Budhidharma, Valentino DWI SURYANTO Dwi Winarno, Dwi Elly Zunara Erliza Noor Estralita Trisnawati Ferdinand, Ferry Vincenttius Gracia S Ugut Hakim, Dedi Budiman Hardiyanti, Siti Epa Hardiyanto, Arief Tri Hastori, . Hendro Sasongko Hermanto Siregar Hulu, Edison Jaunanda, Meiliana Juniati Gunawan, Juniati Kurniana Maulana, Tb. Nur Ahmad Nurcahyaningsih, Astrika Erlin Oktaviana, Sonya Perdana Wahyu Santosa Retno Yuliati Satriadi, Dharma Sidharta, Juaniva Suhardiono, Suhardiono Sutawidjaya, Ahmad Hidayat Suwandi Suwandi Tarina, Helena Disia Nadia Taufik Raharjo, Taufik Tb. N Ahmad Maulana, Tb. N Ahmad Tridoyo Kusumastanto Yoga Yuniadi Yuliansyah, M. Roby Zainal Zawir Simon, Zainal Zawir