Articles
<![CDATA[THE IMPACTS OF ECONOMIC UNCERTAINTY ON INDONESIAN FIRMS’ TRADE CREDITS ]]>
<![CDATA[Wennars, Lesely]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 11 No 1 (2024): JMBI UNSRAT Volume 11 Nomor 1 ]]>
Publisher : <![CDATA[FEB Universitas Sam Ratulangi Manado ]]>
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DOI: 10.35794/jmbi.v11i1.54590
<![CDATA[Abstract. This research was conducted with the aim of looking at the impact of economic uncertainty on short – term borrowing activities of Indonesian firms, especially on trade credit. The researcher uses quantitative research that includes a total of 7218 firm – year observations collected from 607 companies listed on IDX from 1998 to 2021. Using fixed effect panel data regression, the results show that there is a significant relationship between economic uncertainty and trade payables, trade receivables, and net credits. There was a decrease in trade payable during a crisis, on the other hand, an increase in trade receivables and net credit during years with a higher level of uncertainty. Abstrak. Penelitian ini dilakukan dengan tujuan untuk melihat dampak ketidakpastian perekonomian terhadap aktivitas pinjaman jangka pendek perusahaan-perusahaan Indonesia, khususnya pada kredit perdagangan. Peneliti menggunakan penelitian kuantitatif yang mencakup total 7218 observasi perusahaan – tahun yang dikumpulkan dari 607 perusahaan yang terdaftar di BEI dari tahun 1998 hingga 2021. Dengan menggunakan regresi data panel efek tetap, hasilnya menunjukkan bahwa terdapat hubungan yang signifikan antara ketidakpastian ekonomi dan utang usaha, piutang usaha, dan kredit bersih. Terjadi penurunan utang dagang pada saat krisis, sebaliknya terjadi peningkatan pada piutang dagang dan kredit bersih pada tahun-tahun dengan tingkat ketidakpastian yang lebih tinggi.]]>
<![CDATA[Brand Equity and Stock Performance in Indonesia During the Stock Market Crash Period in 2020 ]]>
<![CDATA[Suryadinata, Andre]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ Proceeding of International Conference on Entrepreneurship (IConEnt) Vol 3 (2023): Proceeding of 3rd International Conference on Entrepreneurship (IConEnt) ]]>
Publisher : <![CDATA[Universitas Pelita Harapan ]]>
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<![CDATA[We study the relationship between brand equity and stock return in the Indonesian market during the market crash period (March 5th–March 24th, 2020). Using the brand valuation published in “Top 100 Most Valuable Brands” in Indonesia 2020 by Brand Finance, we find that during the crash period, stocks with high brand equity have significantly negative returns with significantly higher systematic risk. We continue further by also analyzing the non-crash period in 2020. We find that in 2020 as a whole, stocks with high brand equity will provide significantly higher returns while at the same time having significantly higher systematic risk compared to other stocks with lower brand equity.]]>
<![CDATA[Financial Literacy, Financial Fragility, and Financial Well-being Among Generation-Z University Students in Indonesia ]]>
<![CDATA[Jasen, Lie]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023 ]]>
Publisher : <![CDATA[University of Merdeka Malang ]]>
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DOI: 10.26905/jkdp.v27i2.9402
<![CDATA[This research aims to investigate the correlation between financial literacy and financial fragility as well as financial well-being, along with identifying what factors influence these three financial components. We create an online questionnaire and distribute it to 317 university students that are part of Generation-Z students in Indonesia. The data analysis method uses the logistic regression model and marginal effect analysis. The research’s findings shows that educational background of father and the behavior of recording transactions are the factors influencing financial literacy. In addition, the level of financial fragility and financial well-being has been found to be affected by the father’s education, parent’s income, and investment experience. It is also proven that financially literate people are capable of withstanding unexpected financial crisis. Finally, the result shows that financial literacy is a key to achieving financial well-being at an early age. Therefore, policy maker should be aware of this situation and increase financial education for young generations.DOI: 10.26905/jkdp.v27i2.9402]]>
<![CDATA[The Impact of Geopolitical Risk, State Ownership, and Group Affiliations on Indonesian Firms' Cash Reserves ]]>
<![CDATA[Sandra, Sandra]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ Jurnal Keuangan dan Perbankan Vol 26, No 1 (2022): January 2022 ]]>
Publisher : <![CDATA[University of Merdeka Malang ]]>
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DOI: 10.26905/jkdp.v26i1.6930
<![CDATA[The purpose of this study is to examine whether geopolitical risks affect firms' cash reserves in Indonesia. Using a panel data analysis, we analyze the role of GPR (short for geopolitical risk) on firms' cash reserves from 2010 to 2020. The results reveal that firms spend their cash reserves when encountering geopolitical risk, specifically financially constrained firms. We extend our study by investigating the effects of state ownership and group affiliations on firms' attitudes towards GPR. State ownership positively affects the relation of GPR and firms' cash reserves, while group affiliation doesn't show a notable impact. The result was robust to endogeneity issues. However, further studies are still needed to determine the extent of geopolitical risk impacts firms' performances. This research is hoped to be useful for policy-makers to anticipate appropriate future regulations in order to help entrepreneurs and the country's economic growth. As for the practitioner itself, i.e., firms, business owners, and entrepreneurs, this research is expected to provide notable information about the impact of risk on firms in Indonesia. Since the economy is shifting to a borderless economy, it can be one of the considerations in making business or economic decisions when firms are faced with geopolitical uncertainty.]]>
<![CDATA[The Effect of Firm Profitability on Expected Stock Return in ASEAN Stock Market ]]>
<![CDATA[Clara, Nathania]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ Jurnal Keuangan dan Perbankan Vol 25, No 3 (2021): Juli 2021 ]]>
Publisher : <![CDATA[University of Merdeka Malang ]]>
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DOI: 10.26905/jkdp.v25i3.5598
<![CDATA[This research discusses and analyzes the company's profitability related to the company's stock return performance Profitability of the firm is related to the firm's performance of stock return. This study uses time-series data with a total sample of 1,010 firms from five countries in ASEAN (Indonesia, Thailand, Malaysia, Philippines, and Vietnam) from January 2010 to December 2019. Fama-French 3 factor model based on two different profitability showed that profitability positively affects the stock return in ASEAN markets. Fama-MacBeth's (1973) regression confirms that firm profitability scaled by operating profit-to-equity or operating profit-to-assets positively influences expected stock returns in the ASEAN market.DOI: 10.26905/jkdp.v25i3.5598]]>
<![CDATA[MENINGKATKAN KINERJA UKM MELALUI MANAJEMEN MODAL KERJA DI KOTA BITUNG ]]>
<![CDATA[Handoko, Liza]]>;
<![CDATA[Kim, Sung Suk]]>;
<![CDATA[Ugut, Gracia]]>;
<![CDATA[Lusmeida, Herlina]]>
<![CDATA[ Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting ]]>
Publisher : <![CDATA[Faculty of Economics and Business Universitas Pelita Harapan ]]>
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<![CDATA[Usaha Kecil dan Menengah (UKM) memiliki peran penting dalam perekonomian Indonesia dan mendapat perhatian khusus dari pemerintah. Untuk bertahan dan berkembang, setiap UKM harus mengembangkan keunggulan kompetitifnya, yang memerlukan modal kerja yang baik untuk mendukung kegiatan operasional sehari-hari dan investasi jangka panjang. Pelatihan ini bertujuan membuka wawasan para pengusaha UKM mengenai pengelolaan modal kerja. Diharapkan pelatihan ini membantu pengusaha UKM di Dinas Koperasi dan UKM Kota Bitung menjadi lebih handal dalam mengelola modal kerja, sehingga penggunaannya lebih efektif dan memastikan keberlangsungan usaha mereka.]]>
<![CDATA[THE IMPACT OF FINANCIAL LITERACY ON STOCK MARKET PARTICIPATION ]]>
<![CDATA[Parengkuan, Samuel Ray Aditya]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting ]]>
Publisher : <![CDATA[Faculty of Economics and Business Universitas Pelita Harapan ]]>
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<![CDATA[This paper addresses the relationship between financial literacy and stock market participation and aims to reveal how an individual’s level of financial literacy affects stock market participation. Our comprehensive survey to measure financial literacy and investment behavior includes an assessment of financial literacy and investment attitudes. Results show that financial literacy has a significant impact on stock market participation, as individuals with high financial literacy better understand investment returns and make more informed decisions when making long- term investment is shown. Importantly, the results demonstrates that financial literacy is important in reducing ignorance about expected returns, effectively managing risk, and thereby preventing investors from engaging in optimistic investment behavior. This highlights the important role played by these findings highlight the potential of improving financial literacy to help investors make informed decisions and improve overall financial outcomes. The implications extend to policymakers, financial institutions, educators and individual investors, requiring a concerted effort to improve financial literacy for a more enlightened and responsible investment community.]]>
<![CDATA[FINANCIAL EDUCATION TOWARDS EARLY INVESTMENT IN HIGH SCHOOL STUDENTS: EVIDENCE FROM A RADOMIZED EXPERIMENT ]]>
<![CDATA[Nugroho, Vina]]>;
<![CDATA[Budhidharma, Valentino]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting ]]>
Publisher : <![CDATA[Faculty of Economics and Business Universitas Pelita Harapan ]]>
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<![CDATA[This study investigate the effect of financial literacy towards investment decision among high school students in Jabodetabek. Students were provided with workshop of financial investment. This study address the following questions : are young people are financially literate? How can we enhance their financial literacy? We did pre test and post test for them. From pre test analysis, we found that most young peoples are not familiar with financial literacy. Because, only 39% from sample are familiar with concept of inflation. We use “interest rate” and “inflation” questions to be tested whether respondents were knowledgeable about those two criteria. This paper uses randomized experience to explore how financial literacy changes investment decision among young peoples. The effect of financial literacy program are strong. After having workshop, students are more knowledgeable about financial literacy that might be useful for their financial decision.]]>
<![CDATA[EMPOWERING RURAL ENTREPRENEURSHIP THROUGH MOTIVATION, TRAINING, AND HEXAHELIX SYNERGY ]]>
<![CDATA[Purba, Golrida Karyawati]]>;
<![CDATA[Suk, KIm Sung]]>;
<![CDATA[Sembel, Jacquelinda Sandra]]>
<![CDATA[ Journal of Sustainable Community Development (JSCD) Vol. 6 No. 2 (2024): Journal of Sustainable Community Development ]]>
Publisher : <![CDATA[Sekolah Tinggi Manajemen IPMI ]]>
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DOI: 10.32924/jscd.v6i2.122
<![CDATA[This community empowerment program aims to foster rural entrepreneurship using a motivational, training and synergy approach. This program is carried out in Pabuaran village, Gunung Sindur subdistrict, Bogor district, centered in Cikoleang. Motivational approaches are carried out formally and informally throughout the program. Enhancing entrepreneurial competence is carried out by providing training such as marketing, financial management and small business bookkeeping. To evaluate participants' entrepreneurial competence, this program assigns participants to prepare a business plan of interest. The entrepreneurial foster program has effectively increased entrepreneurial competence and synergy among entrepreneurial group members. An entrepreneurial group called Tunas CIkoleang was formed as a result of program implementation. Findings during program implementation conclude the importance of social capital, namely the strength of social relationships in fostering entrepreneurship in rural areas. Synergy is one of the factors that determines the success of community empowerment programs.]]>
<![CDATA[When doing good pays off : the nonlinear u-shaped effect of CSR on financial performance of indonesian listed companies ]]>
<![CDATA[Kasiha, Nathalia W N]]>;
<![CDATA[Kim, Sung Suk]]>
<![CDATA[ Enrichment : Journal of Management Vol. 14 No. 4 (2024): October: Management Science And Field ]]>
Publisher : <![CDATA[Institute of Computer Science (IOCS) ]]>
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DOI: 10.35335/enrichment.v14i4.2025
<![CDATA[The study investigates the non-linear correlation between the financial performance of companies that are listed on the Indonesia Stock Exchange and their commitment to Corporate Social Responsibility (CSR). It uses the Driscoll-Kraay method in a Fixed Effect regression model with panel data from 145 companies over the years 2019–2023. The findings show that there is a U-shaped relationship between CSR and Return on Assets (ROA), whereby CSR first reduces ROA before eventually increasing it above an ideal level. Nevertheless, there was no discernible relationship between Return on Equity (ROE) and CSR. Growth, leverage, and company size all had a consistent effect on both financial performance metrics. These results offer insightful information for creating CSR plans that take into account both immediate and long-term financial consequences. The study underscores the significance of employing a variety of financial performance indicators when assessing the impact of corporate social responsibility (CSR) and stresses the necessity of adopting a comprehensive approach to comprehending the intricate correlation between CSR and corporate financial performance]]>
