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CEO BIAS, MORAL HAZARD AND ADVERSE SELECTION: A LITERATURE REVIEW ON RISK DYNAMICS IN DIGITAL BANKING IN INDONESIA, WITH A PITCHING RESEARCH APPROACH Mardjono, Amerta; Maupa, Haris; Setyawan, Ignatius Roni
International Journal of Application on Economics and Business Vol. 3 No. 3 (2025): Agustus 2025
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v3i3.1483-1494

Abstract

This paper investigates the impact of CEO bias, specifically overconfidence, on the financial sustainability of digital banks and the relationship between these risks. To organize prospective assessment into CEO decision-making within the digital banking industry, the evaluation employs the pitching research methodology (Faff, 2015 and 2024).This study compares and contrasts an array of existing theories and prior academic findings published between 1970 and 2024, categorized into key components such as CEO bias, moral hazard, adverse selection, and fintech solutions, and how each of these interacts with financial sustainability and governance in digital banking. This study indicates that CEO overconfidence plays a critical role in influencing the risk management practices of digital banks, particularly in the context of moral hazard and adverse selection. While fintech innovations such as big data and machine learning have improved banks' ability to assess borrower risk, they cannot fully mitigate the risks posed by information asymmetry, especially when CEO bias skews decision-making. This paper is expected to fill part of a gap in linking the studies of how CEO bias impacts the financial sustainability of digital banks, exposing moral hazard and adverse selection. It provides a practical approach to examining the moderating influence of CEO bias on moral hazard and adverse selection in Indonesia’s digital banking sector, where fintech tools are heavily relied upon. While previous research has focused on the technical risks of fintech solutions, this paper explores how behavioral biases, particularly overconfidence, impact digital banking sustainability.
The Influence of Capital Structure, Sales Growth on Financial Performance, with Liquidity and Environment, Social and Government Rating as Control Variables and Moderated by Company Size Santoso Yohana, Jessika; Setyawan, Ignatius Roni
Eduvest - Journal of Universal Studies Vol. 4 No. 10 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i10.1484

Abstract

This study aims to examine the influence of Capital Structure and Sales Growth on Financial Performance with Liquidity and Environment, Social and Governance Rating as Control Variables and moderated by the Size of the Company. This study also uses data from manufacturing companies obtained from the Indonesian stock exchange from 2018 to 2022, The research method in this study is quantitative research. The sample selection technique used was purposive sampling and was obtained from 32 manufacturing companies so that the total number of obervation data was 160 data. The data analysis method in this study is multiple linear regression analysis using panel data regression analysis with a fixed effect model. The results of the study show that the capital structure variable has a positive effect on financial performance. The sales growth variable did not have a positive effect on financial performance. Liquidity and Environment, Social and Governance Rating have no effect on financial performance. The size of the company moderates the capital structure to financial performance. company size does not moderate sales growth to financial performance.
DO HEDONISM LIFESTYLE AND FINANCIAL LITERACY AFFECT TO STUDENT’S PERSONAL FINANCIAL MANAGEMENT? Yana, Noven; Setyawan, Ignatius Roni
International Journal of Application on Economics and Business Vol. 1 No. 2 (2023): May 2023
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v1i2.880-888

Abstract

The purpose of this study was to determine the effect of Hedonism Lifestyle and Financial Literacy on Students' Personal Financial Management. The sample in this study was all university students, which in the end used the convenience sampling method to select the sample so that a sample of 81 students from the 2018 class of Faculty of Ecconomics and Business Tarumanagara University. The data analysis technique used is Structural Equation Modeling (SEM) employed by the Smart-PLS program. The results of this study are hedonism lifestyle and financial literacy have a significant influence on personal financial management.However, the hedonistic lifestyle has a different direction sign with financial literacy as a determining factor for students' personal financial management. The managerial implication of this research that occurs is that parents need to emphasize more financial literacy than the hedonistic lifestyle in order to form a better personal financial management attitude in the future.
PENDAMPINGAN PENELAAHAN ARTIKEL-ARTIKEL DALAM BERKALA ILMIAH MENUJU AKREDITASI SINTA Setyawan, Ignatius Roni; Hapsari, Claudia Gita; Situmorang, Novrida Fransisca
Jurnal Serina Abdimas Vol 1 No 2 (2023): Jurnal Serina Abdimas
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jsa.v1i2.26066

Abstract

Background. Recognizing the importance of scientific journals as pillars of the solidity of study programs in responding to the demands of the tridharma role of higher education, from December 2022 to February 2023 the ABDIMAS team has conducted intensive discussions about the management of scientific journals with one PTS in Yogyakarta which happens to have two scientific journals in accounting and management that has not been accredited by SINTA even though it has been operating for a long time. Furthermore, through several online meetings, it was finally agreed upon a mentoring activity for the two scientific journals which would explore the role of external review partners which had so far been on the list of reviewer names on the journal's website, but had not been utilized optimally to conduct a real review process. Implementation Method Before the activities were carried out online on March 18, 2023, the ABDIMAS team was also involved in reviewing several articles in several edition categories and found the result that many articles needed to maximize content, style, and reference management. The results of the activity The output of the review process was also presented during the ABDIMAS activity with zoom on Saturday 18 March 2023. These results received a positive response from the journal editor at FEB UKDW and the lecturers who acted as reviewers. Another positive result is the presentation about being a good and friendly editor from Prof. Lucey (2013), management of the PBFJ journal from Prof. Faff (2022), and deepening Mendeley's material to improve the quality of reference management and citation of scientific articles. Conclusion The ABDIMAS activity has received a good reception from JRAK and JRMB so that it is considered to be sufficient provision for the process of advancing SINTA 3 accreditation in June 2023 through the ARJUNA application media. Latar Belakang. Menyadari pentingnya jurnal ilmiah sebagai pilar kekokohan program studi dalam menjawab tuntutan peran tridharma perguruan tinggi, maka sejak bulan Desember 2022 hingga Februari 2023 tim ABDIMAS telah melakukan diskusi intensif tentang tata kelola jurnal ilmiah dengan satu PTS di Yogyakarta yang kebetulan memiliki dua jurnal ilmiah bidang akuntansi dan manajemen yang belum terakreditasi SINTA walauapun sudah beroperasi lama. Selanjutnya, melalui beberapa kali pertemuan secara daring akhirnya disepakati suatu kegiatan pendampingan bagi kedua jurnal ilmiah yang akan mengupas peran mitra bestari eksternal yang selama ini sudah ada dalam daftar nama reviewer di website jurnal, namun belum dimanfaatkan secara optimal untuk melakukan proses review secara nyata. Metode Pelaksanaan Sebelum kegiatan yang dilakukan secara daring tanggal 18 Maret 2023, maka tim ABDIMAS juga terlibat melakukan review pada beberapa artikel dalam beberapa kategori edisi dan menemukan hasil bahwa banyak artikel yang perlu dimaksimumkan isi, gaya selingkung, dah manajemen referensinya. Hasil Kegiatan Luaran proses review juga disampaikan pada saat kegiatan ABDIMAS dengan zoom pada Sabtu 18 maret 2023. Hasil ini mendapat sambutan positif dari editor jurnal di FEB UKDW serta para dosen yang bertindak sebagai reviewer. Hasil positif lainnya adalah penyampaian paparan tentang menjadi editor yang baik dan bersahabat dari Prof. Lucey (2013), tatakelola jurnal PBFJ dari Prof. Faff (2022), dan pendalaman materi mendeley untuk meningkatkan kualitas manajemen referensi dan sitasi artikel ilmiah. Kesimpulan Kegiatan ABDIMAS telah mendapat sambutan baik dari pihak JRAK dan JRMB sehingga dinilai menjadi bekal cukup untuk proses maju akreditasi SINTA 3 di Juni 2023 melalui media aplikasi ARJUNA.
PENGGUNAAN CANVA DIGITAL MARKETING BAGI WANITA UMKM SINDANG JAYA TANGERANG Setyawan, Ignatius Roni; Listyarti, Indra; Amerta Mardjono; Valentina Carolina
Jurnal Serina Abdimas Vol 3 No 2 (2025): Jurnal Serina Abdimas
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jsa.v3i2.34789

Abstract

The results of the evaluation of the 2022-2024 PKM activities and the results of discussions and sharing with the sub-district and the head of Forsamik (Micro and Medium Enterprises Forum) in 2022-2024, it was found that there are still many MSME actors who have not intensively used digital marketing media in promoting their products. They still do not understand how to use digital marketing in order to promote products, expand their product marketing areas, open more interactions with potential customers in each marketplace and increase their sales turnover quickly. This greatly motivated the PKM team to carry out activities again on the topic of implementing digital marketing through the Canva application for MSME actors in Sindang Jaya District. The activity was carried out in Sindang Jaya District on May 22, 2025 offline. The PKM team carried out PKM activities on the implementation of digital marketing through the Canva application in two sessions. The first session was in the form of providing comprehensive material & updates on digital marketing through the Canva application for MSMEs, and the second session was the implementation of digital marketing through comprehensive assistance on creating product designs in applications using the Canva application. The final result achieved was that almost all women UMKM were able to use the Canva digital marketing application in the form of a pamphlet. This result is a form of positive behavioral change in female UMKM participants who previously did not understand Canva digital marketing before the PKM agenda were able to prove their abilities through examples of designs for each product through the Canva application. ABSTRAK Hasil evaluasi kegiatan PKM 2022-2024 serta hasil diskusi dan sharing dengan pihak kecamatan serta ketua Forsamik (Forum Usaha Mikro Menengah) pada tahun 2022-2024, maka diperoleh hasil bahwa masih banyak para pelaku UMKM yang belum intens menggunakan sarana pemasaran digital dalam mempromosikan produknya. Mereka masih belum memahami cara penggunaan pemasaran digital dalam rangka mempromosikan produk, memperluas daerah pemasaran produknya, membuka lebih banyak interaksi dengan pelanggan potensial dalam setiap marketplace dan menaikkan omzet penjualannya dengan cepat. Hal ini sangat memotivasi tim PKM melakukan kegiatan kembali dalam topik impkementasi pmasaran digital melalui aplikasi Canva kepada pelaku UMKM di Kec. Sindang Jaya. Kegiatan dilakukan di Kecamatan Sindang Jaya tanggal 22 Mei 2025 secara luring. Tim PKM melakukan kegiatan PKM tentang impkementasi pemasaran digital melalui aplikasi Canva dalam dua sesi. Sesi pertama berupa pemberian materi komprehensif & update tentang pemasaran digital melalui aplikasi Canva bagi UMKM, dan sesi kedua impelementasi pemasaran digital melalui pendampingan secara komprehensif tentang pembuatan desain produk dalam aplikasi menggunakan aplikasi Canva. Hasil akhir yang dicapai adalah hampir semua wanita UMKM mampu menggunakan aplikasi Canva digital marketing dengan dalam bentuk pamflet. Hasil tersebut merupakan bentuk perubahan perilaku positif peserta wanita UMKM yang tadinya sebelum agenda PKM belum memahami Canva digital marketing menjadi dapat membuktikan kemampuannya lewat contoh-contoh desain setiap produk melalui aplikasi Canva.
Financial distress, cash holding, and its effect on earnings management with internal control as a moderator Verrel, Christopher; Setyawan, Ignatius Roni
International Journal of Financial, Accounting, and Management Vol. 7 No. 3 (2025): December
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v7i3.2914

Abstract

Purpose: This study aims to analyze the effect of financial distress and cash holding on earnings management, with internal control as a moderating variable. The research seeks to explain how financial conditions and liquidity influence managerial decisions in presenting financial statements. Methodology/Approach: The study uses manufacturing companies listed on the Indonesia Stock Exchange (IDX) that consistently published annual reports from 2021–2023, totaling 130 firms. Data were obtained from audited financial statements through the official IDX database. Multiple linear regression is used to examine the direct effects of financial distress and cash holding on earnings management, while moderated regression analysis tests the moderating role of internal control. Results/Findings: The results show that financial distress has a positive effect on earnings management, indicating a higher likelihood of manipulation when firms face financial pressure. Cash holding has a negative effect on earnings management, suggesting that higher liquidity reduces incentives to manipulate earnings. Internal control does not moderate the relationship between financial distress, cash holding, and earnings management. Conclusion: Financial distress and cash holding significantly influence earnings management, but internal control does not act as a moderating factor. Limitations: This study is limited to manufacturing firms during 2021–2023, so results may differ in other sectors or periods. Contribution: This study contributes by examining accrual earnings management with internal control as a moderating variable, a combination that remains underexplored in prior research.
Pengaruh Literasi Keuangan dan Gaya Hidup terhadap Pengelolaan Keuangan Mahasiswa yang Dimoderasi Pendapatan Orang Tua Christian Saviola; Ignatius Roni Setyawan
Jurnal Manajerial Dan Kewirausahaan Vol. 7 No. 4 (2025): Jurnal Manajerial dan Kewirausahaan
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jmk.v7i4.36506

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh literasi keuangan dan gaya hidup terhadap pengelolaan keuangan yang dimoderasi oleh pendapatan orang tua. Penelitian ini menggunakan desain penelitian kuantitatif dan menggunakan kuesioner untuk pengumpulan data. Sampel yang digunakan adalah 100 mahasiswa Universitas Tarumanagara dari Fakultas Ekonomi, Hukum, dan Teknik dengan menggunakan teknik purposive sampling dengan metode nonprobability sampling. Teknik analisis data yang digunakan dalam penelitian ini adalah PLS-SEM menggunakan SmartPLS 4.0. Hasil penelitian menunjukkan bahwa literasi keuangan dan gaya hidup memiliki pengaruh signifikan terhadap pengelolaan keuangan mahasiswa Universitas Tarumanagara. Pendapatan orang tua tidak memiliki pengaruh signifikan dalam memoderasi hubungan literasi keuangan dan gaya hidup terhadap pengelolaan keuangan mahasiswa Universitas Tarumanagara. This study aims to determine the effect of financial literacy and lifestyle on financial management moderated by parental income. This study uses a quantitative research design and uses a questionnaire for data collection. The sample used was 100 Tarumanagara University students from the Faculties of Economics, Law, and Engineering using purposive sampling technique with nonprobability sampling method. The data analysis technique used in this research is PLS-SEM using SmartPLS 4.0. The results showed that financial literacy and lifestyle have a significant effect on the financial management of Tarumanagara University students. Parental income does not have a significant effect in moderating the relationship between financial literacy and lifestyle on financial management of Tarumanagara University students.
Analisis Determinan Nilai Perusahaan pada Sektor Makanan dan Minuman di Indonesia Tandra, Valerie Indah; Setyawan, Ignatius Roni
Jurnal Manajerial Dan Kewirausahaan Vol. 8 No. 1 (2026): Jurnal Manajerial dan Kewirausahaan
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jmk.v8i1.36944

Abstract

Penelitian ini dilatarbelakangi oleh penurunan tren nilai perusahaan pada perusahaan sektor makanan dan minuman serta ketidakkonsistenan temuan sebelumnya mengenai pengaruh profitabilitas, struktur modal, dan pertumbuhan penjualan terhadap nilai perusahaan. Penelitian ini bertujuan menganalisis pengaruh profitabilitas, struktur modal, dan pertumbuhan penjualan terhadap nilai perusahaan pada perusahaan makanan dan minuman yang terdaftar di BEI tahun 2022-2024. Nilai perusahaan diproksikan dengan Tobin’s Q, sedangkan variabel independen diukur menggunakan ROA, DER, dan Sales Growth. Penelitian dilakukan dengan pendekatan kuantitatif melalui regresi data panel menggunakan EViews 12, dengan 56 perusahaan sebagai sampel dan total 168 observasi. Hasil penelitian menunjukkan bahwa profitabilitas memiliki pengaruh positif dan signifikan terhadap nilai perusahaan, sementara struktur modal dan pertumbuhan penjualan berpengaruh negatif namun tidak signifikan. Temuan ini menegaskan bahwa profitabilitas merupakan faktor utama yang mampu meningkatkan nilai perusahaan, sedangkan struktur modal dan pertumbuhan penjualan belum menunjukkan kontribusi yang kuat. Secara simultan, ketiga variabel terbukti memengaruhi nilai perusahaan pada sektor makanan dan minuman. This study is motivated by the declining trend in firm value among companies in the food and beverage sector and the inconsistency of previous findings regarding the effects of profitability, capital structure, and sales growth on firm value. It aims to examine the impact of profitability, capital structure, and sales growth on firm value in food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Firm value is proxied by Tobin’s Q, while the independent variables are measured using return on assets (ROA), debt-to-equity ratio (DER), and sales growth. The study adopts a quantitative approach using panel data regression analysis with EViews 12, involving 56 companies and a total of 168 observations. The results indicate that profitability has a positive and significant effect on firm value, whereas capital structure and sales growth have negative but insignificant effects, suggesting that profitability is the primary factor in enhancing firm value, while capital structure and sales growth have not shown a strong contribution; however, simultaneously, the three variables are found to influence firm value in the food and beverage sector.
Pengaruh WCM terhadap financial performance pada perusahaan consumer non-cyclical yang terdaftar pada BEI periode 2021-2024 Prasetya, Billy; Setyawan, Ignatius Roni
Jurnal Manajemen Bisnis dan Kewirausahaan Vol 10 No 1 (2026): Jurnal Manajemen Bisnis dan Kewirausahaan
Publisher : Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jmbk.v10i1.37222

Abstract

This research examines the influence of working capital management (WCM), proxied by CCC, DSO, DSI, and DPO, on financial performance (ROA and ROE) in consumer non-cyclical sector companies on the IDX during 2021-2024. In this stable industry, efficient working capital management is crucial for maintaining and enhancing corporate profitability. This research was conducted with a quantitative approach using secondary annual financial statement data. The data were analyzed using Panel Data Regression Analysis with the EViews software, controlling for Size and GDP, to determine the connection between variables. The research results indicate that CCC and DPO have a significant negative influence on ROA, while DSO and DSI were insignificant. A crucial finding is that none of the WCM components or control variables significantly influenced ROE. This result highlights the importance of CCC and DPO efficiency as the main strategy for enhancing company asset profitability (ROA). Companies are advised to prioritize the optimization of their cash cycle and trade payables. This finding contributes to the financial management literature in emerging markets and provides practical insights for developing effective working capital policies in the consumer non-cyclical sector. Penelitian ini mengkaji pengaruh manajemen modal kerja (WCM) yang diproyeksikan melalui CCC, DSO, DSI, dan DPO terhadap kinerja keuangan (ROA dan ROE) pada perusahaan sektor consumer non-cyclical di BEI periode 2021-2024. Dalam industri yang stabil ini, pengelolaan modal kerja yang efisien sangat krusial untuk mempertahankan dan meningkatkan profitabilitas perusahaan. Pendekatan kuantitatif dengan menggunakan data sekunder laporan keuangan diterapkan dalam penelitian ini. Data dianalisis menggunakan Analisis Regresi Data Panel dengan program EViews, mengontrol variabel Size dan GDP, dalam menguji keterkaitan antar variabel. Temuan penelitian menyatakan bahwa CCC dan DPO memiliki arah hubungan negatif yang signifikan terhadap ROA, sementara DSO dan DSI tidak signifikan. Temuan krusialnya adalah tidak ada satu pun komponen WCM maupun variabel kontrol yang berpengaruh signifikan terhadap ROE. Hasil ini menyoroti pentingnya efisiensi CCC dan DPO sebagai strategi utama untuk meningkatkan profitabilitas aset (ROA) perusahaan. Perusahaan disarankan untuk memprioritaskan optimalisasi siklus kas dan utang usaha. Temuan ini berkontribusi pada literatur manajemen keuangan di pasar negara berkembang dan memberikan wawasan praktis bagi pengembangan kebijakan modal kerja yang efektif di sektor consumer non-cyclical.
Apakah firm growth memengaruhi pengaruh CSR terhadap firm value? Studi kasus pada perusahaan sektor pengolahan di Indonesia periode 2019-2024 Brigitha Nungkirahmawati; Ignatius Roni Setyawan
Jurnal Manajemen Bisnis dan Kewirausahaan Vol 10 No 2 (2026): Jurnal Manajemen Bisnis dan Kewirausahaan
Publisher : Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jmbk.v10i2.37550

Abstract

This study aims to identify the effect of corporate social responsibility (CSR) on firm value among manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2024 period. It also examines the role of firm growth as a moderating variable. The study employs a quantitative research method with a purposive sampling technique. The data were analyzed using panel data regression (unbalanced panel data). The research covers a six-year period, involving 21 companies and a total of 99 observations. The findings reveal that, partially, CSR has a significant and positive effect on firm value, while firm growth does not fulfill its role as a moderating variable. However, the results also show that, simultaneously, CSR and firm growth significantly influence firm value. Penelitian ini dilakukan dengan tujuan untuk mengidentifikasi pengaruh corporate social responsibility terhadap nilai perusahaan yang masuk dalam sektor pengolahan yang terdaftar di BEI pada periode 2019 sampai 2024. Penelitian ini juga menguji peran pertumbuhan sebagai variabel moderasi. Penelitian ini menggunakan metode kuantitatif dengan metode pengambilan sampel yaitu purposive sampling. Data penelitian ini dianalisis dengan menggunakan regresi data panel (unbalanced data panel). Periode penelitian ini adalah 6 tahun, dengan 21 perusahaan, dan data yang diobservasi adalah 99. Penelitian ini menemukan bahwa secara parsial CSR mempengaruhi nilai perusahaan secara signifikan dan positif, tetapi secara parsial pertumbuhan perusahaan tidak memenuhi peran sebagai moderator. Namun, penelitian ini menemukan bahwa secara simultan CSR dan pertumbuhan perusahaan mempengaruhi nilai perusahaan secara signifikan.
Co-Authors Agustin Ekadjaja Agustin Ekadjaja Agustin Ekadjaja Aldo Chandra Alwina Salim Alwina Salim Amerta Mardjono Andriawan Andriawan Ani Nuraini Bahtiar Usman Bernard Harland Sudiarta Brigitha Nungkirahmawati Calvina Calvina Carolina, Valentina Christian Saviola Christoforus Richard Corryanti Kosasih Devney Mulia Dyah Erny Herwindiati Ekadjaja, Margarita Ellyanti Ellyanti Ernest Theodore Febrianto Sitompul Even Filipus Sugiarcu Fahditia, Amala Handarbeni Setio Wicaksono Hapsari, Claudia Gita Haris Maupa Haris Maupa Husin, Marcellino Indra Listyarti Indra Listyarti Irvandy Irvandy Jasen Sugiarto Effendy Jefferson Indra Gotama Jessyca, Jessyca Jimmy Dwi Laksono Juliana Magdalena Kristian, Jonathan Laurianto, Ferdi William Lukito, Fendy Surya Mardjono, Amerta Margarita Ekadjaja Marlim, Francis Maya Junieta Nathasya Nathasya Nicholas Jonathan Nicholas Tanada Novrida Fransisca Situmorang P. Tommy Y. S. Suyasa Patricia Kurnikova Deli Prasetya, Billy Putri, Aicintya Christy Susila Rae, Olivia Beatrix Rahaditya, R. Ramli, Ishak Risma Wulan Safitri Rorlen, Rorlen Ryan Ryan Sakti Brata Ismaya Salim, Caroline Salsabila Rizqita Desmar Santoso Yohana, Jessika Sheren Danella Jieandy Situmorang, Gavrila Miranda Situmorang, Novrida Fransisca Steven Wijaya Subardja, Bernard Anom Budiman Sugiarcu, Evan Andreas Tamba, Anggi Rantinus Tanamas, Darwin Tandra, Valerie Indah Thesalonica, Tennie Timotius Timotius Valentina Carolina Veline Febri Willyanto Veren Anistasya Verrel, Christopher Vincentius G. Krisnawijaya Wasino Wasino Wijaya, Josephine Christianti Wilson Wijaya Yana, Noven Yohanes Yohanes Yolenta Precia Zenanda, Singgih Setya