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THE ROLE OF COMPANY FINANCIAL STATEMENT DISCLOSURE TO ANTICIPATE BANKRUPTCY AND ITS IMPACT I Nyoman Bontot; Martino Wibowo; Sippavitch Wongsuwatt
Samā Jiva Jnānam (International Journal of Social Studies) Vol. 2 No. 1 (2024): Volume 2 No. 1 2024
Publisher : Fakultas Dharma Duta UHN IGB Sugriwa Denpasar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25078/ijoss.v2i1.3917

Abstract

Bankruptcy of a company not only harms the founders, shareholders (investors), suppliers and employees. Bankruptcy of a company can have a systemic impact on the economy of a country or even the global economy. Bankruptcy of a company can be caused by management errors and can also be caused by an economic/financial crisis that has hit. In fact, bankruptcy can be detected through analysis using a bankruptcy model. The data analyzed comes from the company's financial reports. This paper aims to examine the role of company disclosure on bankruptcy anticipation and the impact it has. Disclosure of company financial information is very important in anticipating bankruptcy, because early detection can be done to overcome it.
Peningkatan pengetahuan marketplace pada pelaku usaha mikro kecil dan menengah (UMKM) dengan website education marketplace Patiro, Shine Pintor Siolemba; Aryani, Diah; Rekarti, Endi; Wibowo, Martino
Jurnal Inovasi Hasil Pengabdian Masyarakat (JIPEMAS) Vol 6 No 1 (2023)
Publisher : University of Islam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33474/jipemas.v6i1.19282

Abstract

Kegiatan Pengabdian Kepada Masyarakat dengan sosialisasi pelatihan-pelatihan marketplace dengan web edukasi marketplace kepada para pelaku Usaha Mikro Kecil dan Menengah (UMKM) di wilayah Jakarta Barat dilaksanakan untuk mendukung upaya pemerintah dalam mendorong akselerasi adopsi teknologi digital bagi UMKM agar mampu beradaptasi dengan perubahan perilaku konsumen di era digital saat ini. Tujuan dari kegiatan ini untuk meningkatkan tingkat pengetahuan dan keterampilan para pelaku UMKM untuk dapat penjualan/pemasaran produknya menggunakan platform marketplace yang ada saat ini. Pada kegiatan pengabdian kepada masyarakat ini dilakukan secara online menggunakan aplikasi zoom dengan metode pelaksanaan terdiri atas 3 tahapan yaitu perencanaan, pelaksanaan dan evaluasi kegiatan sosialisasi pemaparan pelatihan marketplace menggunakan website Edukasi Marketplace kepada 20 peserta UMKM di wilayah Jakarta Barat. Hasil yang diharapkan melalui sosialisasi ini tercapainya peningkatan pengetahuan dan keterampilan para pelaku UMKM melalui pelatihan-pelatihan terkait marketplace pada web edukasi marketplace. Salah satu hasil evaluasi pelaksanaan kegiatan pengabdian kepada masyarakat ini, melalui hasil pengisian kuesioner oleh 20 pelaku UMKM sebagai responden menunjukan bahwa 80% peserta sangat perlu dan 20%% perlu untuk mengikuti pelatihan-pelatihan lanjutan untuk meningkatkan pengetahuan dan kemampuan mereka terkait dengan marketplace. Hasil dari kegiatan ini menghasilkan peningkatan pengetahuan pelaku UMKM dalam menentukan strategi marketing dan menampilkan produk yang menarik minat konsumen di marketplace.
Climate-Driven Risks in Tuna Fishing in Indonesia: A Financial Distress Likelihood Wibowo, Martino; Rekarti, Endi; Anwar, Kasful; Indarwati, Tias Andarini; Aumeboonsuke, Vesarach
Indonesian Fisheries Research Journal Vol 30, No 2 (2024): (Desember) 2024
Publisher : Jakarta Technical University of Fisheries

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15578/ifrj.30.2.2024.%p

Abstract

The purpose of this research is to investigate how climate change is influencing the risks within the tuna fishing sector in Indonesia. Changes in the environment, like increasing sea temperatures and shifting ocean currents, have impacted the movement and migration patterns of tuna, directly impacting the industry sustainability. The significance of this study lies in the pressing necessity to comprehend the ways in which climate change is impacting the risks encountered by businesses operating in the tuna fishing industry. This research aims to assess the risks that tuna fishing businesses encounter as a result of climate change and to determine how they affect the company's stock value. To conduct this research, a panel data evaluation approach was employed using seven publicly traded companies engaged in the tuna industry as sample subjects. The data used was sourced from company filings with the Indonesia Stock Exchange and capital market figures from the Financial Services Authority (OJK). The research utilizes an Altman Z Score model to evaluate the financial health and risk of bankruptcy of a company by incorporating dummy variables associated with increasing sea temperatures into its analysis. This study aims to offer policymakers evidence-based guidance regarding the consequences of different management strategies for addressing climate fluctuations. Furthermore, the research underscores the significance of taking factors into account when managing financial risks, especially in ensuring the long-term viability of the tuna fishing sector. The uniqueness of this study is found in its approach of merging financial risk analysis with risk assessment methods by utilizing a model that integrates both biological and economic elements to offer a holistic framework for decision-making within the sustainable fisheries sector.
VALUE CHAIN ANALYSIS: BUSINESS MODEL, OPERATION, AND FINANCE MANAGEMENT OF CAPTURE FISHERIES BUSINESS wibowo, martino; Anwar, Kasful; Mubarok, Faizul; Khurniawan, Arie Wibowo; Wongsuwatt, Sippavitch
Indonesian Fisheries Research Journal Vol 30, No 2 (2024): (Desember) 2024
Publisher : Jakarta Technical University of Fisheries

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15578/ifrj.30.2.2024.7-21

Abstract

This study analyzes the value chain in small and medium-sized fishery enterprises across several Indonesian provinces (Jakarta, Yogyakarta, Bali, South Sulawesi, and West Sumatra). To fully comprehend the value chain in the fishing industry, it is essential to answer the research problems of the pattern identification of the capture fish value chain, and the implementation of the business process in the capture fish industry. It identifies challenges and opportunities within the value chain, particularly regarding resource access, regulation, transportation, and financial impacts. The research employs a comprehensive value chain analysis, utilizing the Business Model Canvas approach. Primary and secondary data were gathered through interviews and analyzing external data sources. It was done from May to November 2023 involving 50 seafood restaurant owners and 110 fishermen in five provinces. The analysis was conducted using panel data methods with robustness tests performed to ensure the validity of the results The study finds significant operational challenges in maintaining the quality and quantity of fresh fish, inefficiencies in various stages of the value chain, and potential areas for improvement in the captured fisheries business models of SMEs and the big firm. It highlights the importance of market stability, sustainable practices, and economic viability for the growth of SMEs in the fishery sector. 
Islamic Banking in Indonesia: Assessing the Impact of Economic Turbulence and Market Dynamics on Credit Portfolios Mubarok, Faizul; Wibowo, Martino; Utomo, Kabul Wahyu; Rahman, Saif Ur
Journal of Islamic Economics and Finance Studies Vol 6 No 1 (2025): JIEFeS, June 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i1.10937

Abstract

Indonesia’s Islamic banking sector has experienced rapid expansion in recent decades; however, credit growth within this sector remains volatile and insufficiently explored, particularly in relation to broader macroeconomic fluctuations. This study addresses this knowledge gap by investigating the key macroeconomic and financial determinants influencing credit growth in Islamic banks. It is driven by the need to understand how external shocks and policy variables affect Islamic financing behavior. Utilizing monthly data from 2002 to 2023, the study employs a Vector Error Correction Model (VECM), Impulse Response Function (IRF), and Forecast Error Variance Decomposition (FEVD) to analyze both short- and long-term dynamics. The VECM results reveal a long-run equilibrium relationship between Islamic credit growth and macroeconomic indicators, including GDP, inflation, and interest rates. This finding suggests that Islamic credit, characterized by its unique Shariah-compliant principles, adjusts over time to restore equilibrium following disruptions. The IRF analysis further indicates that shocks to inflation and exchange rates tend to temporarily suppress credit growth, reflecting the sector’s sensitivity to price volatility and currency fluctuations. In contrast, positive shocks to GDP and stock market performance are associated with sustained increases in credit, underscoring the procyclical nature of Islamic bank lending. FEVD results show that GDP and inflation are the most significant drivers of credit growth variability, followed by interest rates and the exchange rate. These findings underscore that Islamic credit expansion is closely tied to real sector performance and overall macroeconomic stability. For policymakers and financial regulators, the study highlights the importance of maintaining sound macroeconomic fundamentals and fostering a stable investment climate. Such efforts are essential to support sustainable credit growth and enhance the resilience of Indonesia’s Islamic banking sector
THE DELONE MCLEAN MODEL IN EVALUATING THE SUCCESS OF THE SAKTI SYSTEM AT THE CENTRAL JAVA DISTRICT ATTORNEY'S OFFICE Fariz Saputra, Adi; Nurlaela Wati, Lela; Wibowo, Martino
SIBATIK JOURNAL: Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Vol. 5 No. 2 (2026)
Publisher : Penerbit Lafadz Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/sibatik.v5i2.4414

Abstract

The advancement of information and communication technology (ICT) has driven digital transformation in Indonesia's public finance sector, exemplified by the Agency Level Financial Application System (SAKTI). This study evaluates the success of SAKTI implementation within the District Prosecutor's Offices in the Central Java High Prosecutor's Office jurisdiction by examining the effects of system, information, and service quality on user use and satisfaction, as well as their impact on the organization's net benefits. Using a quantitative approach, data from 270 active users were analyzed using Structural Equation Modeling Partial Least Squares (SEM-PLS). The results indicate that system quality, information quality, and service quality all have a significant positive effect on both the use of the application and user satisfaction. Furthermore, application use was found to mediate the relationship between these three quality factors and satisfaction. Finally, both application use and user satisfaction were shown to have a significant positive influence on the net benefits perceived by the work units. This study confirms that a holistic approach focusing on system, information, and service quality is crucial for driving user adoption, satisfaction, and ultimately, the successful implementation of e-government financial systems like SAKTI.
The Influence of Macroeconomic Shocks, Operational Efficiency, and Financing Risk: An Empirical Study of NPF in Indonesian Islamic Banks Mubarok, Faizul; Wibowo, Martino; Pradana, Hasta Dwi; Yaacob, Zulnaidi
Falah: Jurnal Ekonomi Syariah Vol. 11 No. 1 (2026): FEBRUARY
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jes.v11i1.43291

Abstract

This study examines the influence of key macroeconomic variables on the level of Non-Performing Financing (NPF) in Indonesia’s Islamic banking sector using a Vector Error Correction Model (VECM) framework. Research on the stability of Islamic banking was growing, even limited studies linked macroeconomic indicators with NPF with long-term data and dynamic frameworks. This study was quantitative by using macroeconomics indicators such as inflation, the exchange rate, economic growth, the stock price index, financing levels, and global oil prices, complemented by the bank-specific variable BOPO. The secondary time-series data covering the period 2007–2025 were employed in this study. Johansen’s cointegration test indicates the presence of three cointegrating vectors, confirming the existence of long-run relationships among the variables. The result found that the VECM estimation reveals that the exchange rate and inflation exert significant short-run effects on NPF, whereas operational efficiency (BOPO) and economic growth are significant determinants in the long run. These findings underscore the critical role of macroeconomic stability and bank-level operational efficiency in sustaining financing quality in Islamic banking. The implication of this study recommends strengthening risk-management practices, enhancing monitoring effectiveness, and adopting more responsive strategies to mitigate macroeconomic volatility. In addition, policymakers are encouraged to review and adapt macroprudential policies to respond to changing economic conditions. These actions collectively can  enhance stakeholder resilience and support effective leadership during periods of economic uncertainty.
CONTRIBUTION OF JOB STRESS IN MEDIATING ASPECTS AFFECTING WORK FATIGUE OF MINISTRY OF RELIGIOUS AFFAIRS EMPLOYEES IN THE SOUTH PAPUA PROVINCE REGION Risanti, Dwi; Ratang, Westim; Wibowo, Martino
Jurnal Ekonomi Kreatif dan Manajemen Bisnis Digital Vol 3 No 1 (2024): AGUSTUS
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/jekombital.v3i1.803

Abstract

Employees working for the Ministry of Religion in the South Papua Province have a range of tasks related to community service in religious affairs. The demanding workload in this role calls for extra effort from the employees. This research aims to explore how work stress acts as a mediator in the relationship between leadership style, workload, and income adequacy with work fatigue among Ministry of Religion employees in the South Papua Province. Data was collected through a survey involving 153 participants. The findings from the structural equation modeling analysis reveal that leadership style has a significant negative impact on work stress, while workload has a significant positive impact on work stress. However, income adequacy does not seem to affect work stress. Moreover, leadership style negatively impacts work fatigue, whereas workload has a positive impact on work fatigue. Income adequacy, on the other hand, does not have a significant impact on work fatigue. The study ultimately concludes that work stress plays a role in mediating the relationship between leadership style and workload with work fatigue. However, work stress does not mediate the effect of income adequacy on job burnout.
MANAJEMEN KEUANGAN BERBASIS AJARAN HINDU DALAM MENCAPAI SUSTAINABILITAS BISNIS I Nyoman Bontot; Ahmad Subagyo; Martino Wibowo; Anas Iswanto Anwar
Vidyottama Sanatana: International Journal of Hindu Science and Religious Studies Vol 9 No 2 (2025)
Publisher : UHN I Gusti Bagus Sugriwa Denpasar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25078/vidyottama.v9i2.5167

Abstract

This study explores the integration of Hindu ethical principles into the financial governance of Village Credit Institutions (LPDs) in Bali and its contribution to institutional sustainability. Employing a mixed-method approach, the research combines hermeneutic interpretation of sacred Hindu scriptures-Rgveda, Yajurveda, Atharvaveda, Bhagawad Gita, Sarasamuccaya, Manusmrti, and Arthasastra-with quantitative analysis of financial performance across 1.308 LPDs in nine regencies. Four core principles-Karma (ethical productivity), Dharma (social responsibility), Kama (motivational fulfillment), and Artha (material prosperity)-are operationalized within a holistic model of Hindu-based financial management. Empirical testing confirms are positive relationship between these principles and financial indicators such as profit margin, return on assets, and capital growth. The findings demonstrate that Hindu-based financial governance enhances accountability, strengthens community trust, improves leadership integrity, and promotes long-term business sustainability. This study provides a culturally grounded and ethically robust framework for developing resilient and inclusive community-based microfinance institutions in plural financial systems.
The Effects of ESG on Firm Value with Profitability as a Moderation Variable in Sensitive and Non-Sensitive Industries Moh Saiful Hakiki; Tatang Ary Gumanti; Tasrim Tasrim; Martino Wibowo
Jurnal Ilmiah Manajemen Kesatuan Vol. 14 No. 3 (2026): JIMKES Edisi Mei 2026
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v14i3.5210

Abstract

The increasing importance of ESG in corporate strategy and investment decisions, combined with mixed empirical evidence and limited context-specific studies in developing countries like Indonesia, is a concern. The study aims to explore whether ESG disclosure has different short-term and long-term effects and whether profitability moderates the ESG and firm value causality relationship. The study employs panel data regression across four models to examine short- and long-term effects in sensitive and non-sensitive industries. The findings indicate that ESG components do not have consistent direct effects on firm value across industries and time horizons, with only limited evidence of a negative impact of governance in the long-term non-sensitive industry. However, profitability plays a significant moderating role, particularly in non-sensitive industries, where environmental and social interactions become significant in the long term, and social in the short term. In sensitive industries, only governance shows a significant moderating effect in the short term, while no individual moderating effects persist in the long term despite joint model significance. These findings imply that ESG strategies should be implemented in alignment with firm profitability and industry context, as their value relevance emerges primarily through interaction effects rather than as standalone factors.