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Reaksi Pasar Saham dan Aktivitas Perdagangan Bank Sistemik Indonesia terhadap Informational Shock Keanggotaan BRICS Dian Masita Dewi; Ali Sadikin; Asrid Juniar; Azizah Akbariani Ahmad
Jurnal Ekonomi, Akutansi dan Manajemen Nusantara Vol. 4 No. 3 (2026): Edisi Januari - April
Publisher : Utiliti Project Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55338/jeama.v4i3.440

Abstract

Pengumuman resmi keanggotaan penuh Indonesia dalam blok BRICS, yang dikonfirmasi pada 6 Januari 2025, merupakan guncangan informasi geopolitik utama yang berpotensi memengaruhi persepsi risiko sistemik, ekspektasi investor, dan dinamika pasar modal domestik. Meskipun literatur yang ada telah membahas dampak risiko geopolitik terhadap pasar BRICS pendiri, studi yang berfokus pada reaksi pasar saham sektor perbankan, sektor yang sangat sensitive di negara anggota baru seperti Indonesia masih terbatas. Penelitian ini menggunakan metodologi event study untuk menganalisis kinerja harga saham dan volume perdagangan emiten perbankan sistemik terbesar di Bursa Efek Indonesia (BEI) selama jendela peristiwa 14 hari, yang mencakup tujuh hari sebelum (t−7) dan tujuh hari sesudah (t+7) pengumuman resmi. Analisis, yang menggunakan Paired Sample t-test pada data harian tiga bank sistemik (BMRI, BBCA, BBNI), secara konsisten menunjukkan bahwa peristiwa geopolitik tersebut tidak menghasilkan perbedaan yang signifikan secara statistik pada harga saham maupun volume perdagangan. Temuan kuat ini mengindikasikan bahwa bank-bank sistemik yang mapan di Indonesia memiliki tingkat ketahanan (resilience) yang tinggi terhadap informational shock geopolitik. Hasil ini konsisten dengan Efficient Market Hypothesis bentuk semi-kuat, di mana informasi publik sudah tercermin dalam harga saham sebelum pengumuman resmi. Selain itu, stabilitas volume perdagangan menunjukkan bahwa shock tersebut dianggap tidak material oleh pelaku pasar, sesuai dengan Market Microstructure Theory. Penelitian ini menegaskan peran bank sistemik sebagai barometer stabilitas pasar keuangan Indonesia dalam menghadapi risiko eksternal.
KONSTRIBUSI KINERJA KEUANGAN TERHADAP HARGA SAHAM DALAM MENDUKUNG EKONOMI BERKELANJUTAN Sofyaun, Ashari; Juniar, Asrid; Rahmawati, Rini; G. Malik, Eliana
Jurnal GeoEkonomi Vol. 15 No. 1.2024 (2024): EDISI KHUSUS SEMNAS FEB-UNIBA 2024
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Balikpapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36277/geoekonomi.v15i1.2024.451

Abstract

This research aims to measure the contribution of financial performance to stock prices in supporting sustainability economic growth in Pharmaceutical Sub-Sector companies on the Indonesia Stock Exchange in 2018-2022. Total population is 12 company and based on the criteria there is a sample of 8 companies. Data analysis using SmartPLS version 3, research results show that the Current Ratio has a negative effect on stock prices. Partially Return On Assets, Total Asset Turnover have a positive effect on stock prices. Debt To Equity Ratio has no effect on share prices. Partially, Current Ratio, Debt To Equity Ratio and Total Asset Turnover have no effect on Return On Assets. The mediation review shows that the Current Ratio, Debt To Equity Ratio and Total Asset Turnover have no effect on stock prices mediated by Return on Assets.
What Shapes Students’ Financial Behavior? Examining Income, Financial Literacy, and Lifestyle Retno Fidianasari; Asrid Juniar; Megi Nediawan
International Journal of Management Science and Information Technology Vol. 6 No. 2 (2026): July - December 2026
Publisher : Lembaga Komunitas Informasi Teknologi Aceh (KITA), Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/ijmsit.v6i2.7759

Abstract

Financial behavior has become increasingly important among university students as they assume greater financial independence and face more complex financial decisions. Empirical evidence concerning its determinants among students in vocational higher education institutions outside major urban areas remains limited, despite their distinct socioeconomic characteristics. The research examines the effects of income, financial literacy, and lifestyle on the financial behavior of students at Politeknik Negeri Tanah Laut. A quantitative design was employed using probability sampling with a simple random sampling technique. Data were collected from 275 active students and analyzed using PLS-SEM. The results show that income positively and significantly affects financial literacy, lifestyle, and financial behavior, while financial literacy and lifestyle also positively and significantly influence financial behavior. By integrating these variables within a single structural model, the analysis provides a more comprehensive understanding of the economic and behavioral factors underlying students’ financial behavior. The findings suggest that vocational higher education institutions should strengthen applied financial literacy programs, including budgeting, financial planning, expenditure management, and guidance on lifestyle choices aligned with students’ financial capacity. Such initiatives may promote more responsible financial behavior and support long-term financial well-being.
Understanding Online Purchase Intention in Social Commerce: The Roles of Web Quality, User Satisfaction, and Algorithmic Personalization Megi Nediawan; Asrid Juniar; Liko Noor Rafianto Rahadian; Muhammad Rayyan Adhiyani; Nasywa Ghaida Salsabila; Paarth Agarwal
Applied Information System and Management (AISM) Vol. 9 No. 1 (2026): Applied Information System and Management (AISM)
Publisher : Depart. of Information Systems, FST, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aism.v9i1.48916

Abstract

This study examines how web quality influences online purchase intention through user satisfaction in social commerce, with a specific focus on TikTok Shop. Drawing on the WebQual 4.0 framework and expectation-confirmation theory, the research investigates the effects of usability quality, information quality, and service interaction quality on user satisfaction and how satisfaction subsequently drives online purchase intention. Extending prior WebQual research, this study integrates algorithmic personalization as a moderating mechanism that strengthens the satisfaction–online purchase intention relationship, addressing an aspect largely overlooked in existing social commerce studies. Data were collected from 210 TikTok Shop users in Banjarmasin and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that all web quality dimensions significantly enhance user satisfaction, which in turn positively affects online purchase intention. Algorithmic personalization significantly reinforces this relationship, and the model explains 44.6% of the variance in online purchase intention (R² = 0.446). The findings contribute to theory by extending WebQual to algorithm-driven social commerce contexts and offer practical insights for platforms seeking to optimize user experience and personalized recommendation strategies.
Exploring Accountability and Transparency in Government Agency Management: A Literature Review Syati Irawati; Atma Hayat; Asrid Juniar; Sri Astuti Handayani
Ilomata International Journal of Management Vol. 5 No. 3 (2024): July 2024
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijjm.v5i3.1189

Abstract

Public bureaucratic practices are frequently criticized for being impolite, unfriendly, discriminatory, and for having service systems that are non-transparent, complicated, and do not guarantee certainty in terms of time and costs. These issues arise from a lack of transparency and accountability in public service implementation. Transparency involves the freedom to access information, while accountability ensures that activities are carried out responsibly and answerable to the public. This research explores the relationship between accountability and transparency in government agency management through a literature review. The study analyzes 30 journals from state and private universities, published between 2018 and 2023, to understand their impact on government performance. Data was collected from Google Scholar using the keywords "accountability and transparency." Strict criteria and limitations were applied to ensure the relevance and suitability of the data for this research. The findings emphasize the importance of accountability and transparency in improving the performance of government entities at various levels, including regional, city, and village governments, as well as organizations. These concepts are crucial for addressing issues related to performance, finance, and budget management. The study highlights the need for further research to explore these relationships in depth and to develop frameworks for better public service delivery. By integrating accountability and transparency into government operations, public trust can be restored, and the efficiency and effectiveness of public services can be significantly enhanced. This literature review serves as a reference for future studies and practical applications aimed at improving the management and performance of government agencies and organizations.
Optimizing Green Investment and CSR to Enhance Palm Oil Firm Performance in Indonesia: The Role of Financial Slack as a Moderating Factor Muhammad Raihan Rafli; Asrid Juniar; Nasywa Ghaida Salsabila
Ilomata International Journal of Management Vol. 6 No. 4 (2025): October 2025
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijjm.v6i4.1751

Abstract

This study explores how green investment (GI) and corporate social responsibility (CSR) influence the performance of palm oil companies in Indonesia, with financial slack examined as a moderating factor. The research is motivated by the urgent need to address greenhouse gas emissions resulting from land conversion in palm oil plantations and the limited empirical studies focused on the agribusiness sector, particularly palm oil. Using a quantitative approach, the study analyzes data from eight palm oil sub-sector firms listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023, generating 24 firm-year observations. Data were obtained from annual and sustainability reports, and analyzed using structural equation modeling with Partial Least Squares (SEM-PLS) via Warp-PLS 8.0. The results reveal that green investment has a significant negative impact on firm performance, while corporate social responsibility exerts a positive effect. Financial slack does not moderate the relationship between GI and performance but weakens the positive influence of CSR on performance. These findings suggest that the effectiveness of GI and CSR strategies in enhancing firm performance is contingent upon the firm’s financial condition. Moreover, in capital-intensive industries like palm oil, financial slack may complicate the intended benefits of CSR. The study’s limitations, particularly the small sample size and focus on listed companies, highlight the need for broader future research.
Co-Authors Adi, Setijo Ady Setiawan Afriliani Kartika Sari Agustina, Elvira Ahmad, Azizah Akbariani Alfiriana, Novika Ali Sadikin Ali Sadikin Amelia, Fidia Anak Agung Istri Sri Wiadnyani Anwar, Kasyful Aprida Rusmayanti Ashari Sofyaun Ashari Sofyaun Ashari Sofyaun Atma Hayat Azizah Akbariani Ahmad Bustani Ibrahim Bustani, Bustani Christin Natalia Meiditasari Darmansyah Dian Masita Dewi Dwi Apriliyani, Evy Laili FATIMAH FATIMAH Fitriani, Lisa Nor G. Malik, Eliana Gunawan, Robby Hamdani Hamdani Hamdani Hamdani*, Hamdani Handayani, Sri Astuti Hanni, Eisa F Harsana Harsana Hidayatullah, Mahdi Indriati Sumarni Irawati, Syati Liko Noor Rafianto Rahadian M. Zainal Abidin Masita Dewi, Dian Maspuroh, Dea Lailatul Megi Nediawan Megi Nediawan Meina Wulansari Yusniar Moeiz, Ronny Ciptadi Muhamad Rusmin Nuryadin Muhammad Raihan Rafli Muhammad Rayyan Adhiyani Muhammad Sofyan N Kalbiyati, Ridha Nasrudin Nasywa Ghaida Salsabila Nordiansyah, Muhammad Paarth Agarwal Pradana, Rilian Gusma Wira Radhita Inayah Rafli, Muhammad Raihan Rahmawati , Rini Rangga Radipria Rangga Radipria, Rangga Retno Fidianasari Rilian Gusma Wira Pradana Rini Rahmawati Rini Rahmawati Rini Rahmawati, Rini Rizkya, Shafa Robby Gunawan Salsabila, Nasywa Ghaida Saprudin Saprudin Sari Rahmi Sofiati Khairunnisaa Sofyaun*, Ashari Sofyaun, Ashari Sri Astuti Handayani Sufi Jikrillah Suhaili , Achmad Suhaili, Achmad Syati Irawati Tiofajrian, Muhammad Rosyad Wardhana, Ali Wijaya, Melinda Wulansari Yusniar Zainal Abidin, Muhammad Zulkarnain, Muhammad Aris