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Board Size, Outside CEO and Financial Performance in Family Companies with Enterprise Risk Management (ERM) as a Moderating Variable Oktriasih, Charisma; Ismiyanti, Fitri
BALANCE: Economic, Business, Management and Accounting Journal Vol 21 No 2 (2024): Juli
Publisher : UMSurabaya Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/blc.v21i2.22506

Abstract

This study examines the influence of board size and non-family CEOs (outside CEOs) on the company's financial performance, as well as the moderating effect of enterprise risk management (ERM) in family firms. Financial performance is proxied by return on assets (ROA) as the dependent variable. The sample of this study is family firms from the non-financial sector listed on the Indonesia Stock Exchange (IDX) for the years 2017–2021. For testing the hypothesis, this study uses the Ordinary Least Squares (OLS) and Moderated Regression Analysis (MRA) methods with the application IBM SPSS Statistics 22 for Windows. This study's results show that board size has a positive and significant effect on financial performance in family firms. Meanwhile, the presence of an outside CEO does not have a significant influence on financial performance in family firms. Regarding the moderating effect of ERM, this study shows that ERM does not significantly moderate the influence of board size and an outside CEO on financial performance in family firms
PENGARUH LITERASI KEUANGAN TERHADAP NIAT BERINVESTASI GENERASI MILENIAL PADA PLATFORM FINTECH BERBASIS EQUITY CROWDFUNDING DENGAN PERSEPSI RISIKO DAN KEPERCAYAAN PADA PLATFORM DAN FUNDRAISER SEBAGAI VARIABEL MEDIASI Muna, M. Niltal; Ismiyanti, Fitri
JURNAL ILMIAH EDUNOMIKA Vol. 8 No. 1 (2024): EDUNOMIKA
Publisher : ITB AAS Indonesia Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jie.v8i1.12308

Abstract

This study aims to analyze the effect of financial literacy on millennials' investment intention on equity crowdfunding-based fintech platforms with risk perception and trust in platforms and fundraisers as mediating variables. This research is a survey with data collection from 200 respondents, millennial generation Indonesian citizens aged 19-35 years, who used non-probability sampling techniques (purposive and snowball sampling). Primary data was collected through a Likert-scale questionnaire, while secondary data came from literature and trusted online databases. The interview method was used with a small number of respondents to obtain additional information. Data analysis involved descriptive statistical techniques and path coefficient analysis to achieve the research objectives. The results showed that financial literacy has a significant positive effect on the intention to invest in equity crowdfunding platforms, but has no significant effect on the perception of investment risk. Trust in the platform and fundraiser contribute positively to investment intention, suggesting the importance of financial literacy in shaping trust and motivation to invest in that context.
The mediation role of peer-to-peer lending: the impact of inclusion and self-efficacy on MSMEs financial performance Safrianti, Sintia; Lakoni, Idham; Yulianasari, Nina; Angel, Frenita Claudia; Perdiansyah, Perdiansyah; Ismiyanti, Fitri
Manajemen dan Bisnis Vol 25, No 1 (2026): March 2026
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/mabis.v25i1.1027

Abstract

This study aims to examine the role of peer to peer lending (P2P) in mediating the influence of financial self-efficacy, financial literacy, and financial inclusion on the financial performance of MSMEs in Bengkulu City. A study design that was quantitative and explanatory was applied using a survey method involving 108 MSMEs selected through probability sampling across nine districts. Data were collected using questionnaires and analyzed using PLS-SEM with SmartPLS 4.1. The results indicate that financial inclusion and financial self efficacy have a major impact on the adoption of peer to peer lending, while financial literacy does not. Furthermore, peer to peer lending significantly improves financial performance and mediates the effect of financial self efficacy and financial inclusion on performance. Although financial self efficacy, financial literacy, and financial inclusion do not statistically significantly correlate with financial performance. This study is original in integrating behavioral finance constructs with digital peer to peer lending adoption using the Theory of Planned Behavior, contributing empirical evidence to the growing literature on MSME financial performance in underdeveloped regions.