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Analisis Faktor Adopsi E-Wallet Gopay, OVO, dan DANA dengan Model UTAUT2 pada Masyarakat Jawa Barat Saragih, Yulia Wahyuni; Rikumahu, Brady
Nominal: Barometer Riset Akuntansi dan Manajemen Vol. 11 No. 1 (2022): Nominal April 2022
Publisher : Universitas Negeri Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21831/nominal.v11i1.43075

Abstract

Analysis of the Gopay, OVO, and DANA E-Wallet Adoption Factors with the UTAUT2 Model in the West Java. Fintech is changing the banking industry, reshaping business, and changing the way consumers manage and use money. This study's purpose is to examine the factors that affect the adoption of e-wallet, a product of fintech in West Java using the UTAUT 2 model. This study used data collection techniques in the form of surveys by distributing online and manual questionnaires. The respondents of this research are 400 users from Gopay, OVO, or DANA, domiciled in West Java, and ranging in age from 18-40 years. This study used the PLS-SEM model. The results showed that there were three accepted hypotheses. Only the Habit variable (H7a) has a positive significant effect on the Behavioral Intention, while the other variables have no significant effect. Also, it was found that the variables of Facilitating Conditions (H4b) and Behavioral Intention (H8) had a significant positive effect on Use Behavior. In addition, only the Gender variable moderates the independent variable with the dependent variable. ABSTRAKAnalisis Faktor Adopsi E-wallet Gopay, OVO, dan DANA dengan Model UTAUT2 pada Masyarakat Jawa Barat. Fintech telah mengubah industri perbankan, membentuk kembali bisnis, dan mengubah cara konsumen mengatur dan menggunakan uang mereka. Tujuan dari penelitian ini yaitu untuk meneliti faktor-faktor yang mempengaruhi adopsi e-wallet yang merupakan produk dari fintech pada masyarakat Jawa Barat menggunakan model UTAUT 2. Penelitian ini menggunakan teknik pengambilan data berupa survei dengan menyebarkan kuesioner secara online dan manual. Responden penelitian ini merupakan 400 pengguna dari Gopay, OVO, atau DANA, berdomisili di Jawa Barat, dan berusia 18-40 tahun. Penelitian ini akan menggunakan model PLS-SEM. Hasil penelitian menunjukkan bahwa terdapat tiga hipotesis yang diterima. Hanya variabel Kebiasaan (H7a) yang berpengaruh signifikan positif dengan niat menggunakan, sedangkan variabel lainnya tidak berpengaruh signifikan. Kemudian ditemukan bahwa variabel Kondisi Pendukung (H4b) dan Niat Menggunakan (H8) berpengaruh signifikan positif dengan perilaku menggunakan. Kemudian, hanya variabel jenis kelamin yang memoderasi variabel independen dengan variabel dependen.
Determinant Factors of Profitability in Fintech Lending Companies in Indonesia from 2019 to 2022 Using Principal Component Analysis (PCA) Nomba, Aditya Novanto; Rikumahu, Brady
Indonesian Journal of Business Analytics Vol. 4 No. 5 (2024): October 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v4i5.10703

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This reserach examines factors influencing the profitability of Fintech lending companies in Indonesia. A purposive sampling method was employed to select 45 companies annually. The data for this research are cross-sectional, comprising the years 2019, 2020, 2021, and 2022. The methods in this research are Principal Component Analysis (PCA) and multiple linear regression. Findings reveal that current ratio, cash ratio, working capital turnover, debt to assets ratio, short-term debt ratio, equity multiplier, total assets turnover, fixed assets turnover, tangible assets ratio, and effective tax rate significant determinants of profitability for Fintech lending companies in Indonesia. This reserach can help Fintech lending companies improve their profitability.
Pengaruh Dewan Direksi, Dewan Komisaris, Komite Audit Dan Corporate Social Responsibility Terhadap Kinerja Keuangan Perusahaan Rahmawati, Inge; Rikumahu, Brady; Dillak, Vaya Juliana
JAE (JURNAL AKUNTANSI DAN EKONOMI) Vol 2 No 2 (2017): JURNAL AKUNTANSI DAN EKONOMI
Publisher : UNIVERSITAS NUSANTARA PGRI KEDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (268.841 KB) | DOI: 10.29407/jae.v2i2.866

Abstract

Penerapan Good Corporate Governance saat ini bukan lagi sekedar kewajiban, namun telah menjadi kebutuhan bagi setiap perusahaan dan organisasi. Good Corporate Governance diperlukan untuk memberikan kemajuan terhadap kinerja suatu perusahaan dan dapat menjadikan perusahaan berumur panjang dan bisa dipercaya .Selain GCG, perusahaan juga harus berfokus pada Corporate Social Responsibility dari perusahaan tersebut, karena perkembangan dunia usaha saat ini menuntut perusahaan untuk lebih meningkatkan perhatiannya terhadap lingkungan sosial agar dapat meningkatkan kinerja keuangan perusahaan tersebut. Penelitian ini bertujuan untuk mengetahui pengaruh variabel dewan direksi, dewan komisaris, komite audit dan corporate social responsibility (CSR) terhadap kinerja keuangan yang diproksikan dengan return on assets (ROA) pada perusahaan sub sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia tahun 2013-2015. Teknik pengambilan sampel dalam penelitian ini menggunakan purposive sampling yang menghasilkan 12 sampel dalam kurun waktu 3 tahun yaitu sebanyak 48 unit sampel. Metode analisis yang digunakan yaitu analisis regresi data panel yang diolah menggunakan Eviews 9. Hasil penelitian ini menunjukkan bahwa secara simultan variabel dewan direksi, dewan komisaris, komite audit dan corporate social responsibiity (CSR) berpengaruh terhadap kinerja keuangan perusahaan yang diproksikan dengan return on assets (ROA). Secara parsial variabel dewan direksi dan dewan komisaris berpengaruh secara positif dan signifikan terhadap kinerja keuangan perusahaan. Sedangkan variabel komite audit dan corporate social responsibility (CSR) tidak berpengaruh terhadap kinerja keuangan perusahaan
Financial contagion analysis on asset return of S&P 500 Index, Shanghai Index, and Hang Seng Index with Jakarta Composite Index for the period 2017 – 2023 Ferdy Fardian; Brady Rikumahu
Journal of Digital Business and Marketing Vol. 1 No. 1 (2025): February
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jdbm.v1i1.3316

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Purpose: This study investigates financial contagion—the transmission of risk and instability between markets and using the co-volatility contagion test method developed by Fry-McKibbin (2018). This study aims to analyze the volatility linkages among major global stock markets and their impact on Indonesia’s market during economic crises. Research Methodology: This study examines daily asset returns from January 2017 to December 2023 for the S&P 500 Index (SPX, United States), Shanghai Composite Index (SCI, China), Hang Seng Index (HSI, Hong Kong), and Jakarta Composite Index (JCI, Indonesia). The co-volatility contagion framework measures changes in market correlations between crisis and non-crisis periods. Results: The findings reveal contagion from SPX, SCI, and HSI to the JCI, with varying co-volatility patterns. The SPX–JCI relationship shows significantly positive co-volatility differences that decline during crises, indicating synchronized but independent movements under global uncertainty. The SCI–JCI differences were significantly negative with low magnitudes, suggesting opposite movement tendencies during crises. HSI–JCI differences were also significantly negative, reflecting reduced connectivity and divergent responses to global risks. Conclusions: Distinct co-volatility patterns indicate different market sensitivities to global uncertainty, emphasizing the importance of tailored investment and policy strategies. Limitations: This study focuses on four markets and a defined time span, potentially limiting generalizability. However, it does not account for sector-specific contagion effects. Contribution: This study provides empirical evidence of volatility transmission mechanisms, offering valuable insights for investors, market participants, and policymakers to enhance risk assessment and investment strategies.
Capital Structure, Investment Growth, and Liquidity Effects on Automotive Companies’ Financial Performance Riska Mandasari; Brady Rikumahu
Review of Multidisciplinary Academic and Practice Studies Vol 1 No 2 (2024): August
Publisher : LPPM STIE KRAKATAU

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61401/rmaps.v1i2.131

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Purpose: This study analyzes the influence of capital, investment, and liquidity structures on the financial performance of automotive companies and their components listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. Methodology: The study used multiple regression analysis with data obtained from annual financial reports. A purposive sampling technique selected 15 automotive companies as the sample. Results: The results show that capital structure has a significantly positive effect on financial performance, while investment and liquidity do not significantly affect financial performance. Conclusions: This study concludes that capital structure significantly improves financial performance, while investment growth and liquidity do not have a significant effect on automotive companies’ performance. Effective capital management is essential for enhancing financial outcomes. Limitation: The study's limitation is that it focuses solely on automotive companies listed on the Indonesia Stock Exchange during the specified timeframe. Contribution: This study provides empirical evidence on financial factors affecting automotive companies’ performance and offers insights for investors, creditors, and financial managers.
The Effect of Profitability and Solvency on Stock Prices (Study on Property and Real Estate Companies Listed on the Indonesia Stock Exchange in 2019-2023) Cahyaningsih Cahyaningsih; Fadhil Ade Permana; Brady Rikumahu
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8181

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Stock price is a key indicator that reflects a company's performance and serves as an essential factor for investors in making investment decisions. This study aims to examine the partial and simultaneous influence of profitability ratios and solvency ratios on stock prices of property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period. Profitability ratio related to investment are measured using Return on Equity (ROE), while solvency ratio is measured using Debt to Equity Ratio (DER). The population in this study consists of all property and real estate sector companies listed on the IDX during the 2019-2023 period. The sample includes 31 companies over a five-year period, selected using the purposive sampling method. The analysis method applied is panel data regression. The results of this study are expected to provide valuable insights for investors, companies, and academics in understanding the factors affecting stock prices in the property and real estate sector.
Stock Valuation Before and After the COVID-19 Pandemic: Free Cash Flow to Firm (FCFF) and Relative Valuation Approach with Discounted Cash Flow (DCF) Valuation Method Virta Dimas Catur Diputra; Brady Rikumahu
Riset Akuntansi dan Bisnis Indonesia Vol 1 No 1 (2025): February
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat (LPPM), STIE Krakatau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61401/rabi.v1i1.191

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Purpose: This study compares the valuation of hospital companies in the healthcare sector in Indonesia before and during the Covid-19 pandemic on the Indonesia Stock Exchange (IDX). Global crises, including the Covid-19 pandemic, have had a significant impact on stock prices in the IDX and have affected company valuations. Therefore, it is important to study the valuation of stocks in the healthcare sector, prices in the IDX and have affected company valuations. Therefore, it is important to study the valuation of stocks in the healthcare sector, especially in hospital companies that are directly related to the pandemic. This research is expected to provide important lessons about stock valuation in the future if a similar phenomenon occurs Methodology/approach: This research focuses on the period before Covid-19 and the period during the peak of Covid-19, specifically in July 2021. This study compared the stock valuations of three hospital companies: HEAL, MIKA, and SILO. The valuation methods used are Discounted Cash Flow using the Free Cash Flow to Firm model and Relative Valuation using PBV and PER. Results/findings: From the research results, it is known that there has been an increase in the intrinsic value (value per share) of SILO, MIKA, and HEAL from the period before Covid-19 and after the peak of Covid-19 in either pessimistic, moderate, and optimistic scenarios. This increase in intrinsic value is followed by an increase in share prices. MIKA’s valuation did not change in the three scenarios, whereas SILO and HEAL changed only in moderate scenarios. In the relative valuation analysis, there was an increase in PER for SILO, HEAL, and MIKA before and after the peak of Covid-19. Conclusions: The pandemic positively influenced the valuation of hospital stocks, driven by increased demand for healthcare services. This reflects the defensive nature of healthcare investments during crises. Limitations: The study is limited to three issuers and does not account for long-term post-pandemic effects or macroeconomic variables. Contribution: This research provides insights for investors and policymakers on how healthcare sector valuations behave during global health emergencies and offers a valuation framework for future crises.
PEMBERDAYAAN MASYARAKAT DESA MELALUI WORKSHOP DAN PENDAMPINGAN UNTUK PENGELOLAAN WEBSITE DESA WISATA Prasetio, Adhi; Rikumahu, Brady; Octrina, Fajra
JMM (Jurnal Masyarakat Mandiri) Vol 8, No 5 (2024): Oktober
Publisher : Universitas Muhammadiyah Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31764/jmm.v8i5.26252

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Abstrak: Keberadaan website merupakan salah satu faktor penting dalam menyampaikan informasi bagi sebuah desa wisata. Untuk dapat menjalankan fungsinya sebagai media promosi, website memerlukan peran aktif masyarakat untuk mengelola konten yang ditampilkan secara teratur. Pengelolaan konten website ini memerlukan keterampilan dan komitmen khusus dari masyarakat sasar. Melalui kegiatan workshop dan pendampingan ini, diharapkan masyarakat dapat meningkatkan soft skill dan hard skill nya untuk dapat mengelola konten website desa secara mandiri. Untuk mencapai hal tersebut diperlukan tiga tahap, yaitu metode ceramah dilakukan untuk meningkatkan kesadaran pentingnya website dalam promosi, workshop pengelolaan konten website, dan proses pendampingan yang berkelanjutan. Mitra pada kegiatan ini adalah masyarakat desa wisata sebanyak 40 orang pada saat workshop, dan untuk pendampingan pengelola website sebanyk 15 orang. Evaluasi yanga dilakukan adalah dengan tanya jawab dan pengisian kuesioner. Hasil dari penyelenggaraan kegiatan pengabdian masyarakat ini menunjukkan bahwa lebih dari 90% peserta merasakan manfaat dari pelatihan yang diberikan dan lebih dari tujuh orang kandidat pengelola website aktif melakukan kegiatan penulisan artikel untuk konten website. Abstract: The existence of a website is one of the important factors in conveying information for a tourist village. In order to function as a promotional media, the website requires the active role of the community to manage the content that is displayed regularly. Managing the content of this website requires special skills and commitment from the target community. Through this workshop and mentoring activity, it is hoped that the community can improve their soft skills and hard skills to be able to manage the content of the village website independently. To achieve this, three stages are needed, namely the lecture method is carried out to increase awareness of the importance of websites in promotion, website content management workshops, and ongoing mentoring processes. The partners in this activity are 40 people from the tourist village community during the workshop, and 15 people for mentoring website managers. The evaluation carried out was through questions and answers and filling out questionnaires. The results of this community service activity showed that more than 90% of participants felt the benefits of the training provided and more than seven candidate website managers actively wrote articles for website content.
PENGARUH KARAKTERISTIK PRAKTIK CORPORATE GOVERNANCE TERHADAP PREDIKSI FINANCIAL DISTRESS (Studi Kasus pada Perusahaan Subsektor Pertambangan Batubara yang Terdaftar di BEI Periode Tahun 2009 – 2014) Anna Quraisy Haq; Brady Rikumahu; Anisah Firli
Jurnal PROFIT: Kajian Pendidikan Ekonomi dan Ilmu Ekonomi Vol. 3 No. 1 (2016): Jurnal PROFIT: Kajian Pendidikan Ekonomi dan Ilmu Ekonomi
Publisher : Pendidikan Ekonomi FKIP Universitas Sriwijaya, in partnership with Asosiasi Profesi Pendidikan Ekonomi Indonesia (ASPROPENDO)

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The purpose of this research is to acknowledge the effect of characteristic corporate governance practices on the prediction of financial distress on sub sector coal mining company listed in BEI period 2009-2014. This research can be used as information for companies to know how corporate governance practices could affect the occurrence of a state of financial distress. Independent variables used are institutional ownership, managerial ownership, independent board and audit committee and prediction of financial distress using Altman Z-score as dependent variable. This research is a quantitative study using panel data regression. The population in this study is a sub-sector coal mining company listed on BEI period 2009-2014. The sampling technique in this research is purposive sampling method obtaining 6 companies.The results of research shows that institutional ownership, managerial ownership, independent board and audit committee did not significantly affect the prediction of financial distress. Of the four independent variables, only the institutional ownership that partially has significant impact negatively on the prediction of financial distress.
THE INFLUENCE OF DIGITAL LITERACY, FINANCIAL LITERACY, GENDER, AND FEAR OF MISSING OUT (FOMO) ON STOCK INVESTMENT DECISIONS WITH INFORMATION DISCLOSURE AS A MEDIATING VARIABLE AMONG GENERATIONS Y AND Z IN WEST JAVA Zukhruf Ramadhani; A. Mukti Soma; Brady Rikumahu; Dwi Fitrizal Salim
Multidisciplinary Indonesian Center Journal (MICJO) Vol. 3 No. 1 (2026): Vol. 3 No. 1 Edisi Januari 2026
Publisher : PT. Jurnal Center Indonesia Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62567/micjo.v3i1.1968

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The This study is based on the phenomenon of increasing investment losses and FOMO (Fear of Missing Out) in Indonesia, with illegal investment losses amounting to IDR 139 trillion and FOMO among young people rising to 80% by 2024. This trend aligns with the growing number of investors and digital literacy in Indonesia, particularly in Java, which has the highest concentration of investors. The large population of Generations Y and Z in West Java serves as the subject of this research, highlighting the gap between financial literacy (56.10%) and financial inclusion (88.31%). This reinforces the urgency of this study. Information disclosure is considered crucial in reducing information asymmetry and managing risk in investment decision-making. The main objective of this study is to examine the direct and indirect effects of digital literacy, financial literacy, gender, and FOMO on stock investment decisions, as well as to test the role of information disclosure. A quantitative approach is used, with a questionnaire distributed to 443 respondents from Generations Y and Z in West Java, all of whom have investment experience in stocks. The purposive sampling technique was used, and data analysis was conducted using Structural Equation Modeling-Partial Least Squares (SEM-PLS) to test model validity, reliability, and relationships between variables. The results show that digital literacy, financial literacy, gender, and FOMO significantly affect stock investment decisions. Information disclosure mediates the relationship between financial literacy, gender, and FOMO on investment decisions but does not mediate the relationship between digital literacy and investment decisions. Furthermore, information disclosure positively influences stock investment decisions, emphasizing the importance of transparency. This study contributes to the development of a theoretical model that highlights the role of market discipline through information disclosure. Practically, the findings can guide OJK and companies in designing digital-financial literacy programs and improving information transparency to prevent investment fraud and increase investor confidence. The study suggests that investors should enhance their understanding of investment risks and critically assess available information. Limitations include the focus on Generations Y and Z in West Java using purposive sampling, and the exclusion of other factors like education. The self-report quantitative method may lead to bias, and cross-sectional data does not capture changes in investment behavior over time. Future research is recommended to expand the demographic sample, include additional variables, and use a mixed-method approach for more comprehensive results.
Co-Authors A. Mukti Soma Ade Romadhony Adhi Prasetio Adhia Ika Wahyuni Akhmad, Mu’arif Fandhi Ali Riza Fahlevi Alza, Hanifa Fauzia Anisah Firli Anisah Firly Anna Quraisy Haq Anna Quraisy Haq Arif Kuswanto Athifah Nadya Akmalia Brigitta Priscilla DivinaRianti Cahyaningsih Cahyaningsih Dadan Rahadian Danial, Rahmadiva Dianitha Dembi Tri Al-Fikri Dewa Putra Khrisna Mahardika Dhaifan, Adlan Dicky Hidayat Dillak, Vaya Juliana Dini, Farah Azzahra Divya Dwika Pramesti Dwi Fitrizal Salim Fadhil Ade Permana Fajra Octrina Fatimah Kurniawati Putri Faza Fariha Zhafira Ferdy Fardian Frima, Mariana Hanifa Fauzia Alza Hergijantono, Muhammad Rafi Imanuddin Hasbi Indrawan, Ida Bagus Agung Keysha Salsabila Saputra Khairunnisa Khairunnisa Kurniawati Kurniawati Leonie Syafira Maulidia Isnaini Muhammad Azril Arya Kusuma Muhammad Zharfan Marsyafadhlan Mu’arif Fandhi Akhmad Nauval Nurvian Mugni Nomba, Aditya Novanto Nugraha, Dandi Sukma Nur Sheha Gunawan, Ahmad Nurmayanti Alifia Nuslih Jamiat Putri Fariska Sugestie Putri Sulistyowati Putu Nina Madiawati Rafi Irbah Kusumawati Rahmadiva Dianitha Danial Rahmawati, Inge Refianti Andani Katiya Rena Reviany Priansa Riska Mandasari Riska Mandasari Riswanda, Cecep Rivanza Dhia Ramadhan Rizky Wulan Suci Rizky Wulan Suci Salsabila Putri Yuantari Saragih, Yulia Wahyuni Sinta Dewi Sinta Dewi Suci Hayaty Tiara Indah Sukmasari Vincenthya Verena Viorentina Virta Dimas Catur Diputra Wahyu Wealthy Wily Yoga Wahyuni Nur Syahril Widyandari, Regina Rhisanty Wiwin Aminah Yana Ayu Pradana Yana Ayu Pradana, Yana Ayu Yeny Ekaristi Purba Zukhruf Ramadhani