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SENSITIVITAS ARUS KAS TERHADAP KAS PERUSAHAAN INDONESIA Widjaja, Richeart; Handoko, Liza
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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Penelitian ini mengkaji apakah sensitivitas arus kas terhadap kas perusahaan di Indonesia bersifat asimetris. Data yang digunakan dalam penelitian ini mencakup 620 perusahaan non-finansial dan non-utilitas di Indonesia selama periode 2009-2021, menghasilkan total 5.360 observasi. Hasil analisis regresi menunjukkan bahwa terdapat asimetri dalam sensitivitas arus kas terhadap kas perusahaan. Ketika perusahaan mengalami arus kas positif, sensitivitas arus kas terhadap kas bersifat negatif. Sebaliknya, ketika perusahaan mengalami arus kas negatif, sensitivitas arus kas bersifat positif. Asimetri ini semakin nyata pada perusahaan yang memiliki keterbatasan akses terhadap keuangan eksternal (keterbatasan keuangan). Temuan ini menegaskan adanya asimetri dalam sensitivitas arus kas terhadap kas dan dampak keterbatasan keuangan eksternal terhadap kebijakan perusahaan di negara berkembang.

Empowering Financial Decision-Making for Indonesian Migrant Workers in Hong Kong Randi Bayu Prathama; Liza Handoko; Stevanny
Proceedings of the International Conference on Entrepreneurship (IConEnt) Vol. 4 (2024): Proceedings of the 4th International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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This community service activity initiated by Faculty of Economics and Business Universitas Pelita Harapan (UPH), in partnership with Enrich Hong Kong has successfully conducted webinar for Indonesian Migrant Workers in Hong Kong. This webinar tried to enhance financial literacy and deepen understanding of savings as part of their financial planning for long-term goal. This initiative provides insight and practical guidance for managing personal financial management, to set financial goals. The webinar tries to bring the concept to practice by giving some scenarios that match the profile of the participants that were captured through a survey prior to the event. This webinar brought interactive discussion to better connect with the participants. This is a continuous activity to ensure that there’s impact toward the participants.

Village Development and Sustainable Employment: Valuable Lessons from West Seram District Leroy Samy Uguy; Esther Kembauw; Liza Handoko; Marlita. H. Makaruku; Anna. Y. Wattimena
Proceedings of the International Conference on Entrepreneurship (IConEnt) Vol. 4 (2024): Proceedings of the 4th International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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This research aims to analyze the impact of village development on sustainable employment in West Seram District, focusing on strategies implemented to improve the local economy and reduce community dependence on seasonal sectors. A qualitative approach with a case study method was used in this research, involving in-depth interviews with key stakeholders, such as village heads, local business actors, and village communities. In addition, secondary data from government reports and academic literature were used to enrich the analysis. The results show that village development integrated with entrepreneurial skills development and local resource management can create more stable and sustainable employment. However, this study also found several constraints, particularly limited infrastructure and access to technology. These limitations pose a major challenge in achieving sustainable employment in rural areas. The implications of these findings suggest the importance of policies that support community capacity building and sustainable infrastructure investment to facilitate economic growth in villages. This research provides insights for policymakers and village development practitioners in designing more effective strategies for sustainable employment in rural areas.

PROMOTING BLUE ECONOMY: FACTOR IDENTIFICATION AND MODEL DEVELOPMENT FOR MICRO SMALL & MEDIUM ENTERPRISES (MSME) IN BITUNG, NORTH SULAWESI: A RESEARCH PROPOSAL Handoko, Liza; Sihombing, Sabrina O.; Layman, Chrisanty V.
Proceedings of the International Conference on Entrepreneurship (IConEnt) Vol. 2 (2022): Proceedings of the 2nd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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As an archipelagic country, Indonesia has so much potential to promote a blue economy. The blue economy refers to industrialized fishery activities promoting and accelerating economic growth. In other words, this industrialization in the marine and fishery sector is the process of adding value to the productivity and production scale. The fishery sector is one of the main sectors contributing to Indonesia’s economic growth and is not a standalone sector. However, it also brings other sectors into motion, such as tourism. Furthermore, we would like to dive deep into the technology-based blue economy. This research proposal aims to identify inhibiting and supporting factors for the digitalization of SMEs in the fishery sector.Moreover, after gathering those factors, this research will continue to build a model that explains entrepreneurial self-motivation in promoting and hindering digitalization programs. Two important reasons that this research is necessary are, first, limited studies were trying to identify factors that cause the technology gap for the SMEs in the fishery sector. Secondly, developing a model of internal factors that promote and hinder SMEs from going digital, particularly in the blue economy. This research will be conducted in Bitung City, North Sulawesi, as the object of research due to the potential of natural resources in the fishery sector.

SENSITIVITAS ARUS KAS TERHADAP KAS PERUSAHAAN INDONESIA Widjaja, Richeart; Handoko, Liza
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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

Penelitian ini mengkaji apakah sensitivitas arus kas terhadap kas perusahaan di Indonesia bersifat asimetris. Data yang digunakan dalam penelitian ini mencakup 620 perusahaan non-finansial dan non-utilitas di Indonesia selama periode 2009-2021, menghasilkan total 5.360 observasi. Hasil analisis regresi menunjukkan bahwa terdapat asimetri dalam sensitivitas arus kas terhadap kas perusahaan. Ketika perusahaan mengalami arus kas positif, sensitivitas arus kas terhadap kas bersifat negatif. Sebaliknya, ketika perusahaan mengalami arus kas negatif, sensitivitas arus kas bersifat positif. Asimetri ini semakin nyata pada perusahaan yang memiliki keterbatasan akses terhadap keuangan eksternal (keterbatasan keuangan). Temuan ini menegaskan adanya asimetri dalam sensitivitas arus kas terhadap kas dan dampak keterbatasan keuangan eksternal terhadap kebijakan perusahaan di negara berkembang.

MENINGKATKAN KINERJA UKM MELALUI MANAJEMEN MODAL KERJA DI KOTA BITUNG Handoko, Liza; Kim, Sung Suk; Ugut, Gracia; Lusmeida, Herlina
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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Usaha Kecil dan Menengah (UKM) memiliki peran penting dalam perekonomian Indonesia dan mendapat perhatian khusus dari pemerintah. Untuk bertahan dan berkembang, setiap UKM harus mengembangkan keunggulan kompetitifnya, yang memerlukan modal kerja yang baik untuk mendukung kegiatan operasional sehari-hari dan investasi jangka panjang. Pelatihan ini bertujuan membuka wawasan para pengusaha UKM mengenai pengelolaan modal kerja. Diharapkan pelatihan ini membantu pengusaha UKM di Dinas Koperasi dan UKM Kota Bitung menjadi lebih handal dalam mengelola modal kerja, sehingga penggunaannya lebih efektif dan memastikan keberlangsungan usaha mereka.

UNRAVELING QUALITATIVE RESEARCH: BREAKING BARRIERS? Handoko, Liza; Wuisan, Dewi; Meilani, Yohana; Sitompul, Thomson; Soetardjo, Mulyadi
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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This research aims to assist the researchers at Surya Nusantara Adventist College in gaining knowledge about qualitative research methods. The goal is to encourage respondents to conduct research using qualitative approaches in their respective fields of expertise. The workshop covered the following topics: What is qualitative research methodology, and how does it differ from quantitative methodology? What are the strengths and weaknesses of qualitative research, and how can one effectively conduct qualitative research (tips)? Prior to the workshop, the respondents admitted to having difficulty with qualitative research due to a lack of understanding. However, after the workshop, the respondents reported a better understanding of qualitative research concepts and felt motivated to consider qualitative research as an alternative method. 75% of participants stated that the material presented met their needs, and 81% said that it broadened their insights. They expressed motivation to apply qualitative research in their future projects.

FACTORS AFFECTING FINANCIAL DISTRESS: EVIDENCE FROM INDONESIA Chrissentia, Tirza; Handoko, Liza
Milestone: Journal of Strategic Management Vol 5. No. 1 April 2025
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/ms.v5i1.8607

This study analyzes the impact of various factors on financial distress in Indonesian companies, focusing on profitability, institutional ownership, firm size, firm age, interest expense, dividend payout, retained earnings, and the COVID-19 pandemic. The objective of the research was to understand the effects of those internal and external factors before crisis, during crisis and post crisis. Data from companies listed on the Indonesia Stock Exchange (excluding the financial sector) from 2013 to 2022. The numbers of the sample based on the criteria were 691 companies, which makes 6132 observation points in total as the sample for this research. The sample was analyzed using logistic regression to determine the relationship between these variables and financial distress. The study found that profitability significantly reduces the likelihood of financial distress, while firm size, firm age, high interest expenses, high retained earnings, and the COVID-19 pandemic significantly increase the likelihood of financial distress. Based on the findings, this study analyzed the impact of a company's condition during a crisis and the effect of external factors on the probability of financial distress and its impact on the company. The study can be used as a basis for company planning under external pressure conditions, considering the possibility of future events like pandemics or other crises.

THE IMPACT OF WORKING CAPITAL MANAGEMENT AND COVID-19 ON THE PROFITABILITY OF COMPANIES IN INDONESIA Ayuningtias, Kartika Sekar; Liza Handoko
Milestone: Journal of Strategic Management Vol 5. No. 1 April 2025
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/ms.v5i1.9499

This research examines the impact of working capital management and the COVID-19 pandemic on the profitability of Indonesian companies listed on the Indonesia Stock Exchange from 2013 to 2022, excluding financial firms. Using panel regression with a fixed effects model, the findings reveal that cash conversion cycle management and firm size significantly influence profitability, both in terms of ROA and ROE. Efficient cash conversion cycle management enhances profitability by reducing the time needed to convert inventory investments into cash, while larger firms benefit from economies of scale and greater market access. Additionally, accounts receivable management, current ratio, and leverage significantly affect ROA, whereas inventory management, current assets, and the COVID-19 pandemic show no significant impact. For ROE, only cash conversion cycle and firm size have a significant influence. These results highlight the importance of effective working capital management strategies to enhance corporate profitability.

Analysis of Factors Influencing Students' Interest in Stock and Cryptocurrency Investments: A Study on Indonesian University Students' Behavioral Intentions Using the Theory of Planned Behavior Callista, Vania; Handoko , Liza
Golden Ratio of Finance Management Vol. 5 No. 2 (2025): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v5i2.1207

Investment interest among Indonesian university students remains low, particularly in stocks and cryptocurrency. Data shows that most capital market investors in Indonesia have only completed high school, while undergraduate students have lower investment participation. Understanding the factors influencing students' investment interest is crucial to fostering financial literacy and economic growth. This study examines the factors affecting students' interest in investing in stocks and cryptocurrency using the Theory of Planned Behavior (TPB). A quantitative approach was employed, with data collected from 200 university students in Indonesia who have previously invested in stocks (n=100) or cryptocurrency (n=100). The study utilized Partial Least Squares Structural Equation Modeling (PLS-SEM) for data analysis. Findings reveal that Perceived Behavioral Control (PBC) plays a significant mediating role in the relationship between Attitude Towards Behavior (ATB) and Intention to Invest (ITI) in the stock market. Meanwhile, Subjective Norms (SN) exert a more substantial influence on cryptocurrency investment, directly and indirectly. This indicates that financial literacy and confidence in decision-making are key drivers for stock investments, whereas social influence plays a dominant role in cryptocurrency investments. The results highlight the need for educational institutions to integrate financial literacy programs and provide simulated investment experiences to enhance students' investment confidence and motivation.

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