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Determinants Of Investment Portfolio Performance: A Systematics Literature Review Yuliana, Rena; Siwiyanti, Leonita; Purnomo, Budi Supriatono; Purnamasari, Imas
The Eastasouth Management and Business Vol. 2 No. 02 (2024): The Eastasouth Management and Business (ESMB)
Publisher : Eastasouth Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/esmb.v2i02.184

Abstract

A thorough grasp of the variables influencing portfolio performance is necessary given the significance of investment portfolio management in the face of shifting financial market dynamics. This study uses a method called the Systematic Literature Review (SLR) approach with an emphasis on Prefered Reporting Item for Systematic Review and Meta-Analysis (PRISMA) 2020, which has not been discovered in prior research on the same issue. The study highlights the importance of ratios like Sharpe, Treynor, Jensen, and Sortino in assessing investment portfolio success. It also highlights the impact of non-financial variables like household preferences on performance. Return is crucial, and diversification can lower risk and boost returns. The study emphasizes the use of Value-at-Risk (VaR) for dynamic risk evaluation.
Navigating the Landscape of Islamic FinTech: A Comprehensive Literature Review Rani, Asni Mustika; Purnomo, Budi Supriatono; Purnamasari, Imas
The Eastasouth Management and Business Vol. 2 No. 02 (2024): The Eastasouth Management and Business (ESMB)
Publisher : Eastasouth Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/esmb.v2i02.199

Abstract

The primary objective is to provide a comprehensive understanding of the current state and potential growth of Islamic FinTech in Indonesia. Specifically, the study delves into the impact of the COVID-19 pandemic, regulatory considerations, and the role of Sharia principles in shaping the Islamic FinTech landscape. Employing bibliometrics, literature review, and content analysis, the study examines Scopus-indexed documents related to Islamic FinTech. The research uses VOSViewer for network analysis, providing insights into research trends, influential articles, and keyword co-occurrence, thereby contributing to the existing literature on Islamic FinTech. The study identifies four thematic clusters in the global distribution of Islamic FinTech research: (1) Islamic FinTech, (2) Islamic finance, (3) technology, and (4) Islamic economics. Additionally, the research illustrates the surge in Islamic FinTech publications since 2018, indicating growing global interest. Noteworthy is Indonesia's substantial contribution to Islamic FinTech research, reflecting the country's emergence as a significant player in this domain.
Financial Literacy and Behavior of Indonesian Diaspora Women: A Study of Muslimah Humairah Community in South Korea Maulidina, Alma Syifa; Deny, Muhammad; Prayoga, Widi; Purnomo, Budi Supriatono; Purnamasari, Imas
JURNAL BISNIS STRATEGI Vol 34, No 1 (2025): July
Publisher : Master of Management, Faculty of Economics and Business, Diponegoro University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jbs.34.1.52-62

Abstract

This study aims to analyze the influence of Financial Literacy and Financial Behavior on Financial Stability among Indonesian diaspora women in South Korea, specifically within the Muslimah Humairah Community. Using a quantitative approach and a descriptive-verificative design, data were collected through a structured questionnaire from 88 respondents. The research employed multiple linear regression analysis and tested the classical assumptions, including normality, multicollinearity, heteroskedasticity, and autocorrelation. The results demonstrate that both Financial Literacy and Financial Behavior have a significant positive effect on Financial Stability. Financial Literacy plays a more dominant role, with a standardized coefficient (Beta) of 0.783, compared to Financial Behavior, which has a Beta of 0.173. The regression model explains 79.4% of the variation in Financial Stability (R² = 0.794), confirming its robustness. These findings highlight the importance of integrating financial education with practical behavioral interventions to foster economic resilience. Improving financial knowledge and encouraging disciplined financial habits can empower diaspora women to achieve greater financial stability, particularly in the face of economic challenges in a foreign country.
The Impact of Financial Literacy and Financial Behavior on Investment Decision among Private Sector Employees in Tasikmalaya City Prayoga, Widi; Purnomo, Budi Supriatono; Purnamasari, Imas
JURNAL BISNIS STRATEGI Vol 34, No 1 (2025): July
Publisher : Master of Management, Faculty of Economics and Business, Diponegoro University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jbs.34.1.63-78

Abstract

This study aims to determine the extent of the influence of financial literacy and financial behavior on investment decisions among private sector employees in the city of Tasikmalaya. The population in this study is 39,775, with a sample size of 400 determined using the Slovin formula. The research method used is descriptive and verificative, with purposive sampling as the technique. This study employs multiple linear regression, F-test, and t-test. The results show that both financial literacy and financial behavior have a positive and significant impact on investment decisions, both partially and simultaneously. The added value of this research lies in its ability to provide insights into how financial literacy and financial behavior influence investment decisions, particularly among private sector employees in an emerging region like Tasikmalaya. The findings emphasize the importance of financial education in shaping investment behavior, offering valuable data to improve financial literacy programs and interventions. These insights can guide efforts to enhance financial behaviors and promote more informed investment decisions, supporting better financial decision-making among employees.
DIVIDEND POLICY AND PROFITABILITY: AN EMPIRICAL ANALYSIS OF COMPANIES LISTED ON THE IDX Yulianti, Maria Lusiana; Purnomo, Budi Supriatono; Purnamasari, Imas; Sari, Maya
Jurnal Riset Bisnis dan Manajemen Vol. 19 No. 1 (2026): February Edition
Publisher : Faculty of Economic and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrbm.v19i1.37720

Abstract

This study investigates the relationship between dividend policy and profitability among companies listed on the Indonesia Stock Exchange (IDX) during 2020-2024. Employing panel data analysis on manufacturing and service sector firms, this research examines how profitability metrics influence dividend payout decisions. The findings reveal significant positive relationships between ROA, ROE, and dividend payout ratios, supporting signaling theory. Firm size, leverage, and free cash flow are identified as important determinants of dividend policy. Results provide valuable insights for investors, managers, and policymakers, suggesting that profitable firms distribute higher dividends to signal financial strength and reduce agency conflicts.
Driving Maqāṣid al-Shari’ah Performance in Islamic Banks: The Roles of Islamic Social Reporting, Intellectual Capital, and Sharia Governance Nasim, Arim; Asbaruna, Elfina Qorina Binti; Juliana, Juliana; Purnomo, Budi Supriatono; Marlina, Ropi; Sholahudin, Muhamad Afif; Rusydiana, Aam Slamet; Qudratov, Inomjon
Al-Muamalat Vol. 13 No. 1 (2026): January
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v13i1.54396

Abstract

This study aimed to examine the influence of Islamic Social Reporting (ISR) and Islamic Intellectual Capital (IIC) on the Maqasid Shariah Index (MSI) in Islamic banks, with Islamic Corporate Governance (ICG) acting as a moderating variable. A quantitative method was used to analyze secondary data from 19 Islamic commercial banks operating in Indonesia, Malaysia, and Saudi Arabia during the 2023–2024 period. ISR was measured through content analysis based on 39 disclosure indicators, while IIC was assessed using the iB-VAIC method. Furthermore, ICG was proxied by the frequency of meetings of the Board of Commissioners and Directors. The data were analyzed using multiple linear regression and Moderated Regression Analysis (MRA). The results show that ISR and IIC had a positive and significant effect on MSI, suggesting that ethical social disclosure and effective management of intellectual capital supported the achievement of maqasid shariah objectives in Islamic banking. ICG also showed strengthening roles by enhancing the relationships between ISR, IIC, and MSI. These results reflected the importance of integrating social responsibility, intellectual capital, and shariah-compliant governance to improve maqasid-based performance. In this study, important contributions were made to the body of knowledge by providing cross-country empirical evidence and offering a comprehensive framework for understanding maqasid-oriented performance in Islamic banking.
The Effect of Market Risk, Business Risk, and Financial Risk on Stock Returns in Automotive Companies Hadiansyah Ma’sum; Budi Supriatono Purnomo; Imas Purnamasari
Journal of Economics, Entrepreneurship, Management Business and Accounting Vol 2 No 1 (2024): Volume 2, Issue 1, January-April 2024
Publisher : CV. Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/jeemba.v2i1.288

Abstract

This research aims to determine the influence of investment risk consisting of market risk (X1), business risk (X2), and financial risk (X3) on stock returns (Y) in automotive companies listed on the BEI in 2014-2023 simultaneously and Partial. This research data was obtained from the financial reports of automotive companies listed on the Indonesia Stock Exchange (BEI) and the finance.yahoo.com website. The research sample consisted of 10 automotive companies listed on the Indonesia Stock Exchange for 10 years, namely the 2014-2023 period. The data analysis technique used is descriptive statistical analysis and multiple linear regression analysis using the t test and F test methods. The results of the research show that the market risk variable has a significant negative influence on stock returns, business risk has a significant positive influence on stock returns and financial variables. risk has an insignificant negative effect on stock returns. Meanwhile, simultaneously (F test) the independent variables have a significant influence on the stock return variable. With a determinant coefficient (R2) of 0.111, it shows that 11.1% of the dependent variable on stock returns can be explained by independent variables consisting of market risk, business risk and financial risk and the remaining 88.9% is explained by other variables that are not researched.
GENDER AND INVESTMENT BEHAVIOR: A REVIEW AND BIBLIOMETRIC ANALYSIS Rina Suprina; Ikin Solikin; Budi Supriatono Purnomo; Nurbaeti Nurbaeti
JPIM (Jurnal Penelitian Ilmu Manajemen) Vol. 8 No. 1 (2023)
Publisher : Universitas Islam Lamongan

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

Abstract

The effect of gender differences on investment behavior is a research topic that needs to be explored to understand the phenomena. This paper is to review the literature on gender and investment behavior, as well as their influence on other dimensions. The Publish or Perish software was used to acquire literature data, and the Google Scholar database was chosen. The term used for the title is "gender investment." The initial search yielded 213 publications published between 2016 and 2021. Then, 112 articles were selected from the 213 literatures that were chosen. Using the Mendeley reference manager and the Publish or Perish software, information on the most cited articles was compiled. In addition, the 112 references were processed with the VOS Viewer to generate cluster data containing the items that appear in each cluster. Also demonstrated were the overlay visualization, density visualization, and author network connected with keywords. This study gives an overview of gender issues in investment behavior for future research.
The Impact of Inventory-to-Asset Ratio on Firm Value: Evidence from Emerging Markets Burkhanov Nazarkhon Gulomjon Ugli; Budi Supriatono Purnomo; Irsyad Fauzan Prasetia
Journal of Social Science and Humanities Vol. 1 No. 3 (2026): June
Publisher : CV. Tripe Konsultan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54012/jssh.v1i3.739

Abstract

This study examines the effect of the Inventory-to-Asset Ratio (IAR) on firm value among Consumer Cyclicals companies listed in Indonesia and Malaysia, two key emerging markets in Southeast Asia. Using secondary data from the Refinitiv Eikon database, the research applies a pooled cross-sectional quantitative approach to 298 firm-year observations. Ordinary Least Squares (OLS) regression is employed, with Price Close (USD) as a proxy for firm value. The findings reveal that IAR has a negative but statistically insignificant effect on firm value (β = −0.157, t = −1.630, p = 0.104; R² = 0.009). This indicates that capital markets in these countries do not consistently incorporate inventory efficiency into equity valuation. The study contributes to the literature by providing one of the first empirical tests of the IAR–firm value relationship in the ASEAN Consumer Cyclicals sector, challenging the universality of Signalling Theory and extending insights within the Resource-Based View framework. Practically, managers should still maintain efficient inventory practices for long-term performance, while policymakers are encouraged to enhance disclosure standards. Limitations include the single-variable model, proxy choice, and cross-sectional design, suggesting future panel-based research with broader controls.