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All Journal Signifikan : Jurnal Ilmu Ekonomi ETIKONOMI Jurnal Ekonomi dan Kewirausahaan Jurnal Keuangan dan Perbankan JDM (Jurnal Dinamika Manajemen) JEJAK Journal of Economics, Business, & Accountancy Ventura Jurnal Manajemen Teori dan Terapan MIX : Jurnal Ilmiah Manajemen AFRE Accounting Financial Review Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan NISBAH: JURNAL PERBANKAN SYARIAH Jurnal Akuntansi dan Bisnis Jurnal Abdimas PHB : Jurnal Pengabdian Masyarakat Progresif Humanis Brainstorming MANAJEMEN DEWANTARA Sebelas Maret Business Review International Journal of Economics, Business and Accounting Research (IJEBAR) The Indonesian Journal of Accounting Research Journal of Management and Entrepreneurship Research Indonesian Capital Market Review Jurnal Manajemen dan Pemasaran Jasa Journal of Current Studies in SDGs
Irwan Trinugroho Irwan Trinugroho
Department Of Management Faculty Of Economics And Business Universitas Sebelas Maret
Automotive Engineering Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Mechanical Engineering Public Health Social Sciences Other

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REVENUE DIVERSIFICATION, PERFORMANCE, AND BANK RISK: EVIDENCE FROM INDONESIA Hafidiyah, Mutiara Nur; Trinugroho, Irwan
Jurnal Dinamika Manajemen Vol 7, No 2 (2016): September 2016 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Semarang State University, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v7i2.8198

Abstract

This paper examines the effect of revenue diversification on bank performance and bank risk by studying 101 conventional commercial banks in Indonesia over the period of 2010-2014 resulting in 505 observations. By employing panel least square technique, our results show that revenue diversification negatively affects bank performance. Moreover, it is found that diversified banks are riskier than specialized banks. The risk is diminished when state-owned banks diversify their business. Joint venture banks are riskier than other banks when they engage in non-interest income activities.
Revenue Diversification, Performance and Bank Risk: Evidence from Indonesia Hafidiyah, Mutiara Nur; Trinugroho, Irwan
JDM (Jurnal Dinamika Manajemen) Vol 7, No 2 (2016): September 2016 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v7i2.8198

Abstract

This paper examines the effect of revenue diversification on bank performance and bank risk by studying 101 conventional commercial banks in Indonesia over the period of 2010-2014 resulting in 505 observations. By employing panel least square technique, our results show that revenue diversification negatively affects bank performance. Moreover, it is found that diversified banks are riskier than specialized banks. The risk is diminished when state-owned banks diversify their business. Joint venture banks are riskier than other banks when they engage in non-interest income activities.
A Recent Literature Review on Corporate Political Connections Trinugroho, Irwan
JDM (Jurnal Dinamika Manajemen) Vol 8, No 2 (2017): September 2017 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v8i2.12766

Abstract

It has always been an interesting issue deliberating the connectedness between corporation and political power. There have been a substantial number of papers in the academic literature empirically studying what so call “corporate political connections” over the last 17 years. Using 81 papers published in 2010-2017 in finance, economics, accounting, management and other journals, in this present paper, I provide a recent literature review on firm political connections particularly with respect to the empirical studies discussing the impact of being politically connected firms. A number of issues related to the effect of political connections on corporate strategy, behaviors and outcomes have been addressed. Few other papers provide different perspective by looking at the antecedents of corporate political connections and the contingency role of such connections. Little is found on the development of new measures of corporate political connections. Finally, it could be suggested that the interaction between political connections and the technological-based business innovation would be an interesting issue to study.
The role of structural factors in real interest rate behaviour: A cross-country study Ariefianto, Moch. Doddy; Trinugroho, Irwan
Jurnal Keuangan dan Perbankan Vol 24, No 3 (2020): July 2020
Publisher : UNIVERSITY OF MERDEKA MALANG

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v24i3.4777

Abstract

Real Interest Rate (RIR) has a profound impact on the well-functioning of any economy hence a good understanding of its behavior is a key policy element. Using a Keynesian framework, we model and empirically test the relationship of RIR to selected structural variables namely inequality, dependency, financial depth, and institutional set up. We employ a panel dataset comprised of 115 countries with annual frequency from the period 2000 to 2018. Considering the structure of the dataset and possible endogeneity in the model; System GMM is used to estimate regressions parameters. We found that inequality and dependency do not have a significant influence on RIR. Financial development contributes to improving efficiency while institutional set up has a quadratic relationship with RIR. The better institution first increases RIR; after passing a certain cut off; further institution development would improve efficiency. RIR is found to be significantly procyclical. Further elaboration on the model; also revealed two different global RIR regimes with 2008 as threshold. There is also a significant counter cycle impact of financial development: negative interaction effect with the business cycle. JEL Classification: C23, E43, E32, O43 DOI: https://doi.org/10.26905/jkdp.v24i3.4777
Family Ownership, Women in Top Management and Risk-Taking: Evidence from Indonesia Novi Widyawati; Irwan Trinugroho; Wisnu Untoro
Jurnal Keuangan dan Perbankan Vol 22, No 4 (2018): October 2018
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (341.112 KB) | DOI: 10.26905/jkdp.v22i4.2452

Abstract

Family firms were widely recognized to have a substantial contribution to the economy, especially in emerging economies. However, some previous studies reveal that family firms tend to be conservative and unwilling to take more risks. We extended the literature by investigating whether there was a difference in risk-taking behavior between family and non-family firms in the context of Indonesia. Moreover, the presence of women in the top management also considered negatively correlated with risk-taking strategy. Therefore, this study empirically examined the effects of family ownership and women in top management on a risk-taking strategy of firms. Using data of 336 publicly traded firms in Indonesia over 2012-2016, this study confirmed the negative effect of family ownership and women in top management on corporate risk-taking. Family ownership and involvement as the CEO of the firms negatively associated with the level of risk taking. Moreover, our results reveal that the presence of women was a matter more to decrease corporate risk-taking when they served in the board of directors rather than in the board of commissioners.JEL Classification: G32, M14DOI: https://doi.org/10.26905/jkdp.v22i4.2452
Households, Financial Distress, and Predatory Lending: An Experimental Study Irwan Trinugroho; Ariyanto Adhi Nugroho; Harmadi Harmadi; Joko Suyono; Muh Juan Suam Toro
Jurnal Keuangan dan Perbankan Vol 21, No 3 (2017): July 2017
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (199.932 KB) | DOI: 10.26905/jkdp.v21i3.1261

Abstract

A substantial part of households and micro enterprises, particularly in developing countries including Indonesia, did not have access to formal financial institutions which then lead them to borrow money from illegal loan providers. Using an experimental study, we tested whether predatory loan, an illegal short-term loan with high-interest rate, was preferable or not by comparing with pawnshop loan, bank loan and household’s limited saving when households confront with financial distress. We divided the participants into three groups: lower low, low, and upper low income. We found that predatory loan was preferable especially for the lower low and low-income group. Result also confirmed that even if the predatory loan charge was increased, the lower low- and low-income groups still prefer to ease their financial distress through predatory loans. Moreover, the longer the duration of the predatory loan, the higher its probability to be chosen as a funding source in times of household financial distress.DOI: https://doi.org/10.26905/jkdp.v21i3.1261
Edukasi Manajemen Keuangan dan Costing Pergelaran Wayang Kulit Kepada Dalang Se-Solo Raya Djoko Suhardjanto; Supriyono Supriyono; Wahyu Widarjo; Agung Nur Probohudono; Setyaningtyas Honggowati; Sri Hartoko; Irwan Trinugroho
Jurnal Abdimas PHB : Jurnal Pengabdian Masyarakat Progresif Humanis Brainstorming Vol 5, No 1 (2022): Jurnal Abdimas PHB : Jurnal Pengabdian Masyarakat Progresif Humanis Brainstormin
Publisher : Politeknik Harapan Bersama

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30591/japhb.v5i1.3087

Abstract

Kegiatan Pengabdian kepada Masyarakat ini bertujuan untuk memberikan edukasi tentang manajemen keuangan dan costing pergelaran wayang kulit untuk para Dalang se Solo Raya.  Tema kegiatan pengabdian kepada masyarakat ini di latar belakangi oleh adanya pandemik covid-19 yang telah berlangsung selama kurang lebih 2 tahun dan berdampak pada menurunnya permintaan pergelaran wayang  karena adanya PPKM (Pemberlakuan Pembatasan Kegiatan Masyarakat. Adanya PPKM memunculkan peluang untuk melakukan pentas wayang kulit secara daring. Dalam kegiatan pengabdian masyarakat ini digunakan metode edukasi untuk memberikan pemahaman. Pemahaman tersebut dilakukan dengan pelatihan dan workshop costing untuk pergelaran wayang kulit yang dilakukan baik secara daring, luring, dan hybrid. Hasil dari kegiatan ini adalah adanya komunitas Dalang senior dan yunior yang mampu melakukan pengelolaan keuangan dan investasi untuk keberlanjutan usaha.
Investment Strategy Based on Bias Behavior and Investor Sentiment in Emerging Markets Dian Safitri Pantja Koesoemasari; Tulus Haryono; Irwan Trinugroho; Doddy Setiawan
ETIKONOMI Vol 21, No 1 (2022)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v21i1.22290

Abstract

This research's main objective is to select profitable investment strategies with the presence of sentiment investors in emerging markets, with behavior bias-based portfolio methods. The sample of 114 companies traded daily on IDX was conducted over three years with weekly data. This study uses pairwise comparison and OLS. The research results show that contrarian strategies are more profitable than momentum. Investors benefit when mild conditions are optimistic and more significant when the conditions are pessimistic. This research proves that investor sentiment in the market can distort investor investment decisions, even using the behavior-bias method. Therefore, forming a portfolio will be more appropriate based on biased behavior because it facilitates investment decision-making.How to Cite:Koesoemasari, D.S.P., Haryono, T., Trinugroho, I., Setiawan, D. (2022). Investment Strategy Based on Bias and Investor Sentiment in Ememerging Market. Etikonomi, 21(1), 1-10. https://doi.org/10.15408/etk.v21i1.22290.
Board of Commissioners’ Structure, Ownership Retention, and IPO Underpricing: Evidence from Indonesia Doddy Setiawan; Muhammad Agung Prabowo; Irwan Trinugroho; Bany Ariffin Amin Noordin
ETIKONOMI Vol 20, No 1 (2021)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v20i1.19156

Abstract

This research examines how the board of commissioners' structure and ownership retention affect IPO underpricing in Indonesia. In this study, we have examined the following three aspects: the number of board of commissioners, percentage of independent commissioners, and percentage of female commissioners. In total, 186 Indonesian companies that have conducted IPO from 2001 to 2016 were included in this study. This study uses multiple regressions to test the hypothesis. Our findings show that ownership retention has a negative implication on underpricing. Furthermore, the number of board of commissioners and independent commissioners has also been determined to reduce the level of underpricing. However, female commissioners were found to have no significant effect on IPO underpricing; furthermore, it demonstrated no significant effect in reducing the level of underpricing. These results show that higher ownership retention, a smaller number of board members, and a higher percentage of independent commissioners can reduce IPO underpricing.JEL Classification: G30, G32How to Cite:Setiawan, D., Prabowo, M. A., Trinugroho, I., & Noordin, B. A. A. (2021). Board of Commissioners’ Structure, Ownership Retention, and IPO Underpricing: Evidence from Indonesia. Etikonomi, 20(1), 185 – 200. https://doi.org/10.15408/etk.v20i1.19156.
Foreign Banks’ Presence and Domestic Bank Performance: Evidence from Indonesia Aina Mardiya; Irwan Trinugroho
ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (273.818 KB) | DOI: 10.15408/etk.v17i2.7769

Abstract

We examine the impact of foreign presence on domestic banks’ performance by studying conventional commercial banks in Indonesia. We use monthly financial information of 97 commercial banks from 2003 through 2013 resulting in 8,600 observations. We use a panel data regression (Panel Least Square method) to test our hypotheses. Our results show that overall, foreign presence decreases the performance of domestic banks. Going deeper, we find that foreign presence reduces state-owned banks’ profitability as well as private domestic banks’ profitability. However, there is no significant effect of foreign presence on the performance of regional development banks. Little evidence found on the effect of foreign presence on overhead cost.DOI:10.15408/etk.v17i2.7769
Co-Authors Afnizal Zulfan Ariffandi Agista Putri Prameswari Agung Nur Probohudono Aina Mardiya Aldy Fariz Achsanta Ari Darmawan Ariefianto, Moch. Doddy Ariefianto, Mochammad Doddy Arifin, Layyin Nafisa Ariyanto Adhi Nugroho Aurence Dea Krissanti Aurio Fajrin Bany Ariffin Amin Noordin Chee, Hong Kok Darma Saputra Dewanti Cahyaningsih Djoko Karyono Djoko Suhardjanto Djoko Suhardjanto Doddy Setiawan Doddy Setiawan Doddy Setiawan Evi Gantyowati Fadli Septianto Fahri, Luki Okta Faizul Mubarok Febby Erianto Nugroho Fitri Susilowati Gunawan Wiradharma Harmadi Harmadi Hermawati, Nofa Hidayah, Ismi Nur Hong Kok Chee Hunik Sri Runing Sawitri Hunik Sri Runing Sawitri Indra Purnama, Muhammad Yusuf Izza Mafruhah Joko Suyono Junivar, Mutiara Syahada Khoiriyah, Siti Koesoemasari, Dian Safitri Pantja Layyin Nafisa Arifin Lian Kee Phua Linggar Ikhsan Nugroho Mario Aditya Prasetyo Melisa Arisanty Moch. Doddy Ariefianto Muh Juan Suam Toro Muhammad Agung Prabowo Muhammad Ahnaf Ammar Qushoyyi Muthmainah Muthmainah Muthmainah Muthmainah Mutiara Nur Hafidiyah, Mutiara Nur Nofa Hermawati Novi Widyawati Nugroho Saputro Nugroho Saputro, Nugroho Nugroho, Linggar Ikhsan Nur Imamah Nur Imamah Oviwasat Nawacatur Pamungkas, Putra Phua, Lian Kee Prameswari, Agista Putri Pratama, Yhoga Heru Purbowo, Gunawan Purnama, Muhammad Yusuf Indra Putra Pamungkas Risal Rinofah Risal Rinofah, Risal Santoso, Arief Budi Sari, Pristin Prima Setyaningtyas Honggowati Sevanrhoo Noya Dean Tanardi Soni Prima Nugroho Sri Hartoko Supriyono Supriyono Surahmi Kando Suryanto - Suryanto Sutaryo Sutaryo Sutaryo Sutaryo Sutaryo Sutaryo TAUFIK ARIFIN Taufiq Arifin Toro, Muh Juan Suam Tulus Haryono Wahyu Widarjo Wisnu Untoro Wisnu Untoro wisnu untoro, wisnu Y. Anni Aryani