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All Journal Journal of Business and Management Return : Study of Management, Economic and Bussines Journal of Consumer Study and Applied Marketing IIJSE Journal Integration of Management Studies
Tuntun Salamatun Zen, Tuntun Salamatun
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Financial Performance Analysis of PT. Pertamina (Persero) in Comparison with Other Local and Global Oil & Gas Companies Metharyanasari, Devy; Zen, Tuntun Salamatun
Journal of Business and Management Vol 5, No 4 (2016)
Publisher : Journal of Business and Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (459.505 KB)

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Abstract.In recent years, as a developing country, Indonesia has been facing with several uncertainty conditions, such as political changes, government policies, increasing in population, and unstable economics growth. Indonesia’s economic growth shows that Indonesia’s GDP (Gross Domestic Product) was decline starting 912.52 billion US dollars in 2013 and continues to decline in 2015 was worth 861.3 billion US dollars. There are some factors that influenced Indonesia’s economic growth recently those are the presence and activity of business areas, such as manufacturers, pharmaceutical, telecommunications, property, banks, creative economics, mining, and many more. For mining areas, especially in oil & gas sectors, refers to Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) which is an institution that under the auspices of the Minister of Energy and Mineral Resources, said that this sector having a fluctuation growth since the world oil prices have been hit severely since early 2015. This caused a serious negative impact to oil and gas companies in the world, included Indonesia. Regarding to the declining world oil prices in early 2015, the problem causing disruption of business activities conducted by PT. Pertamina such as declining on generate sales. To know how does the financial performance recently, PT. Pertamina (Persero) will be compared to other local and global benchmark companies, which are PT. Medco Energi International, Chevron Corporation, and ConocoPhillips. The methods that will be used to analyze consists of Financial Ratio (Trend Analysis, Cross-Sectional Analysis, CAGR comparison), DuPont Analysis, and BUMN Scoring. In conclusion, according to the analysis that has been done, PT. Pertamina (Persero) obtain fluctuate results tend to decline in some ratios during 2011 – 2015, then there will be given the recommendation in order to improve the financial performance of PT. Pertamina (Persero) such as use operating efficiently and managing other costs and expenses also focus on generating more sales. There will a further research given to the company, which are using moody’s rating and measures company’s value by using valuation method.Keywords: PT. Pertamina (Persero); Financial Performance Analysis; Financial Ratios; DuPont Analysis; Oil & Gas Companies
A Comparative Analysis of Islamic and Non-Islamic Banking using Financial Asset-Quality Ratio and Liquidity Ratio Prastawa, Irvantara; Zen, Tuntun Salamatun
Journal of Business and Management Vol 5, No 2 (2016)
Publisher : Journal of Business and Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (671.289 KB)

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The core objective of this research is to compare and examine financial performance of Islamic banks agains Non-Islamic banks. The research observes that Islamic banking has made unprecedented progress over recent years. In Indonesia specifically, they had been increasing their assets by an average of 43% annually since 2007, and their share of the banking sector’s total assets is growing fast.  Focusing on those asset growth, this research aims to compare it to the main banking system used, which is Non-Islamic banks or Conventional banks, by focusing on the asset side of the financial performance. The financial performance measurement were expressed in six financial ratios in which were categorized into Asset-Quality and Liquidity. These six ratios are: Provision to Earning Assets (PEA), Loan Ratio (LR), Loan to Deposits (LTD), Cash to Assets (CTA), Cash to Deposits (CTD), and Return on Asset (ROA). The data was based on balance sheets and income statements of Islamic and Non-Islamic banks from year 2004 to 2014. To test the hypotheses, Mann-Whitney was utilized to compare those financial performances. In general, the research found significant difference in all six ratios, with each bank had their own better performance in some ratios.
Effect of Good Perception, Awareness, and Willingness Pay Tax to Compliance Taxpayers (Case Studies at KPP Pratama Bandung Karees) Azzam, Ubaydillah; Zen, Tuntun Salamatun
Journal of Business and Management Vol 4, No 9 (2015)
Publisher : Journal of Business and Management

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Abstract. Receipt of funds in the country is a very important aspect for the State to run the government. Without funding, the State would be very difficult to develop development or welfare of its people. One of the national income originating in the country is a tax. Tax issues in Indonesia have reached the stage of a very chronic. The high demand for income countries is not supported by increasing public awareness of tax payment. Many factors lead to a tax problem in Indonesia. A good perception of effectiveness system tax, willingness to pay tax, and awareness to pay tax are factors that studied in this research. Tools that use in this research are multiple linear regression analysis, F test, and coefficient of determination. Conclusion of this research is that all variables in this research are correlated. Keywords: Tax, Income tax, Awareness, Willingness, A good perception of system pay tax
Effect Of Financial Technology On Cash Holding In Indonesia Using Autoregressive Distributed Lag (ARDL) Diputra, Sachio Senna; Zen, Tuntun Salamatun; Hasanah, Eneng Nur
Journal Integration of Management Studies Vol. 1 No. 2 (2023)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v1i2.94

Abstract

The rapid proliferation of financial technology (Fintech) has revolutionized the landscape of financial services globally, presenting digital alternatives to conventional banking and payment methods. Indonesia has emerged as a noteworthy adopter of Fintech, driven by the widespread usage of smartphones and government initiatives to foster financial inclusion. Nonetheless, the empirical research concerning the association between Fintech adoption and cash-holding behaviour in Indonesia remains limited. This study explores Fintech's influence on individuals' cash holding patterns in the country, considering direct indicators such as debit cards, credit cards, electronic money, mobile banking, and internet banking. A time-series analysis covering the period from M5 2013 to M3 2023, based on secondary data from the Bank Indonesia Statistic Database, is employed to achieve this research objective. The analytical framework utilizes the Autoregressive Distributed Lag (ARDL) bounds testing approach, accounting for the explanatory variables' concurrent and lagged effects. The empirical findings reveal a significant positive relationship between debit cards, mobile banking, and internet banking usage in short-term cash-holding behaviour. In contrast, credit card usage exhibits a negative and statistically significant association with long-term cash holding. These results contribute to a comprehensive understanding of how Fintech adoption shapes cash-holding behaviour in Indonesia and provide valuable insights into the country's transition toward a cashless society.
The Effect of Financial Contents on Social Media Towards Financial Literacy on Generation Z in Sumatra and Java Angelica, Agnes Enya; Zen, Tuntun Salamatun; Hasanah, Eneng Nur
Journal of Consumer Studies and Applied Marketing Vol. 1 No. 1 (2023)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jcsam.v1i1.47

Abstract

Contents with the topics around finances in social media can be utilized to improve financial literacy among Generation Z, considering that Generation Z took the highest proportion compared to other generations in Indonesia and since Generation Z has the highest internet penetration rate and spent the most time on the internet compared to other generations. This research aims to determine the impact of finances on financial literacy in Generation Z, the most significant factor of financial content that affects financial literacy, and to find out which social media and content type is the most impactful. The financial content on social media is measured by the number of social media and content types, the number of creators and topics watched, and duration, while financial literacy is measured by financial attitude, behavior, and knowledge. This research uses quantitative methods, and the data is collected using an online questionnaire. This research gathered 287 samples from Java and Sumatra, Indonesia, and 222 are financial content viewers. The multi-linear regression result found that financial contents affect financial literacy by 20.4%. The total amount of financial topics watched has the most significant impact on financial literacy, while the total amount of social media used to watch financial content has a significant negative impact. The ANOVA result discovered that people who are most often use YouTube to view financial content have the best financial literacy score average.
Financial Impacts from Assignment of Supply and Distribution of Subsidized Fuel in PT Pertamina (PERSERO) Darmansyah, Asep; Nugroho, Yezsa Bella; Zen, Tuntun Salamatun
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 2 (2025): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i2.5979

Abstract

The Indonesian government has been subsidizing fuel to control inflation and stabilize the economy. Although Presidential Regulation 43/2018 mandates fuel compensation, the lack of technical regulations regarding budget allocation and monitoring has led to fuel compensation being classified as long-term receivables. To address this issue, the government issued PMK No. 227 of 2019, providing certainty for Pertamina to bill and collect payments. This regulation affirms the government's commitment to pay Pertamina, as outlined in the reconciliation records between the Ministry of Finance and the company. Internal and external analyses were conducted to understand Pertamina's business challenges, including reviews of financial statements and PESTEL analysis. The lack of regulatory clarity has resulted in negative cash flows and decreased profits for Pertamina. However, the issuance of PMK 227 has facilitated financial recovery, which is expected to enhance Pertamina's profits and increase tax and dividend contributions to the government.
Does the Age of Board Members Affect Firms' Financial Performance? A Case of ESG Leader Companies in Indonesia Rusadi, Gisyla Oktaviana; Zen, Tuntun Salamatun
Journal Integration of Management Studies Vol. 1 No. 1 (2023)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v1i1.17

Abstract

A lot of scholars across the globe have attempted to investigate the effects of board diversity towards firms’ financial performance and yielded inconclusive results. In this paper, the author aims to discover the effects of one of the board diversity attributes on firms’ financial performance in Indonesia, namely age diversity (measured by standard deviation) as well as the variables surrounding the board members' ages (average age and the presence of millennials). Purposive sampling method is used to select the research sample, which resulted in 41 companies which are listed in the ESG Sector Leaders IDX KEHATI index. The time frame of the observation is from 2018 to 2022. By using panel data regression, the author finds out that age diversity on BOC has a positive relationship with ROA, average age of BOC has a negative relationship with ROE, while the presence of millennials on BOD & BOC combined has a positive relationship with ROA. The negative association between average age and ROE indicates that boards with a younger average age outperform boards with an older average age. However, interestingly, the board members' age does not have any significant effect on the financial performance indicator which reflects the market perspective as measured by Tobin's Q.
Aspects Influencing Personal Life and Health Insurance Purchase Sanjaya, Steve Matthew; Zen, Tuntun Salamatun
Return : Study of Management, Economic and Bussines Vol. 2 No. 8 (2023): Return : Study of Management, Economic And Bussines
Publisher : PT. Publikasiku Academic Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57096/return.v2i8.145

Abstract

The study aims to identify the factors that influence the purchase decision of life & health insurance in Indonesia and determine how those factors influence. The method used in this study is qualitative method with semi-structured interviews. A total of 17 respondents were interviewed from insurance customers, non-insurance customers, and insurance agents in Bandung City. The result of this study indicates that demographic factors such as income level, assets, educational background, financial dependency, and health status directly influence life & health insurance purchase decisions. Insurance product benefits, price, trust in insurance companies, trust in insurance agents, and perceived value insurance were found to influence life & health purchase decisions too directly. Additionally, multiple factors were found to influence insurance trust. These factors include the insurance company brand, selling practices used by insurance agents, perceived service quality of insurance, and insurance literacy. Furthermore, insurance perceived value was also influenced by other factors such as insurance literacy, culture, and environment. Above all aspects, the insurance agents have direct control over the selling practices, service quality, and insurance literacy that someone experience. This study also proved that insurance agents were responsible for the insurance industry’s bad reputation in Indonesia. This result will equip insurance agents to know their customers better and adjust their selling practices to suit potential customers. Insurance agents are also strictly prohibited from mis-selling insurance products.
Co-Authors Angelica, Agnes Enya Asep Darmansyah Diputra, Sachio Senna Eneng Nur Hasanah, Eneng Nur Metharyanasari, Devy Nugroho, Yezsa Bella Prastawa, Irvantara Rusadi, Gisyla Oktaviana Sanjaya, Steve Matthew Ubaydillah Azzam, Ubaydillah