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Bankruptcy Analysis of Companies Affected by the Boycott, Divestment, Sanctions (BDS) Movement Jestica Arifani Dilla Hardanti; Heni Safitri; Dedi Hariyanto
IECON: International Economics and Business Conference Vol. 3 No. 1 (2025): International Conference on Economics and Business (IECON-3)
Publisher : www.amertainstitute.com

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65246/25rf8s80

Abstract

This study sought to determine the outcomes of corporate bankruptcy predictions using the Springate, Zmijewski, and Grover models on companies impacted by the Israeli Boycott, Divestment, Sanctions (BDS) Movement. The study's population consisted of 22 companies affected by the Israeli BDS Movement operating within Indonesia. A total sampling technique was employed, including all 22 companies. The analysis utilized three distinct models Springate, Zmijewski, and Grover to predict corporate bankruptcy. The analysis of bankruptcy predictions yielded the following results: the Springate model predicted 12 companies would experience bankruptcy, with 10 not at risk. The Zmijewski model identified 6 companies as potentially bankrupt and 16 as not at risk. The Grover model predicted 5 companies would experience bankruptcy and 17 would not. Overall, the combined analysis of the three models identified 3 companies that were predicted to experience bankruptcy and 8 companies that were not.
The Influence of Financial Literacy, Locus Of Control and Lifestyle on Cashless Society Behavior of Gen Z in Pontianak City Syifa Azizah; Heni Safitri; Dedi Hariyanto
IECON: International Economics and Business Conference Vol. 3 No. 1 (2025): International Conference on Economics and Business (IECON-3)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65246/zcdnzf70

Abstract

The purpose of this study is to investigate the impact of financial literacy, locus of control, and lifestyle on the cashless society behavior of Generation Z in Pontianak City.  This study employs quantitative methodologies.  Pontianak City's Generation Z population was researched.  The study sample was chosen using a purposive sampling method, in which the sample was chosen based on certain characteristics requested by the researcher.  This survey had a total of 100 respondents.  The outcomes of the study suggest that financial literacy has a positive and significant influence on cashless society behavior.  On the other hand, locus of control has a negative and minor influence on cashless society behavior.  And lifestyle has a favorable and important influence on cashless society behavior. 
The Influence of Cognitive Dissonance Bias, Overconfidence Bias, and Herding Bias on the Investment Decisions of West Kalimantan Society in the Indonesia Stock Exchange Pebriyanti; Dedi Hariyanto; Heni Safitri
IECON: International Economics and Business Conference Vol. 3 No. 1 (2025): International Conference on Economics and Business (IECON-3)
Publisher : www.amertainstitute.com

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65246/3r1f6e85

Abstract

This study examines the influence of cognitive dissonance bias, overconfidence bias, and herding bias on investment decisions in stocks listed on the Indonesia Stock Exchange. The study employs a questionnaire method as a data collection technique, involving a sample of 150 respondents, all of whom are residents of West Kalimantan who invest in stocks on the Indonesia Stock Exchange. The data analysis techniques used include multiple linear regression analysis, multiple correlation coefficient (R), coefficient of determination (R²), simultaneous test (F-test), and partial test (t-test). The results of the study indicate that cognitive dissonance bias, overconfidence bias, and herding bias have a positive and significant influence on investment decisions. This suggests that these three types of behavioral biases play an important role in the individual investment decision-making process. In other words, when investors experience a mismatch between their beliefs and new information, exhibit excessive self-confidence, or tend to follow the decisions of the majority, they are more likely to make investment decisions without thoroughly considering rational analysis. These findings highlight the importance of understanding investor psychology and financial literacy in minimizing the impact of cognitive biases. Proper education and enhanced awareness of financial behavior are expected to help investors make more objective and rational decisions, thereby reducing potential losses and improving the quality of investment decisions in the capital market.
Representative Bias Effects on Investment Performance During Stock Market Volatility Events Dedi Hariyanto
IECON: International Economics and Business Conference Vol. 3 No. 1 (2025): International Conference on Economics and Business (IECON-3)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65246/abnyew44

Abstract

This study investigates the influence of familiarity bias and attention grabbing on abnormal returns during black swan events. The analysis employs the traditional Capital Asset Pricing Model, expanded with prospect theory and the Fama and French Three- Factor Model, incorporating psychological variables such as familiarity and attention grabbing. The population comprises all companies listed and actively traded on the Indonesia Stock Exchange from 1997 to 2020. A systematic sampling method was used to determine the sample, resulting in 5,615 observations based on trading days over 23 years across nine sectors. The findings reveal that familiarity bias does not uniformly occur across all sectors during black swan events. Sectors significantly affected, either positively or negatively, include agriculture, consumer goods, finance, mining, property and construction, and trade and services. Moderation analysis shows a negative relationship between attention grabbing and abnormal returns, which weakens during black swan events. This suggests that the negative impact of attention grabbing on abnormal returns diminishes under extreme market conditions. The study highlights the behavioral dynamics of capital markets during rare and unpredictable events, emphasizing the relevance of behavioral finance. It also supports the notion of increasing integration among global financial markets, as evidenced by similar reactions in international capital markets. This research is limited to representative biases, specifically familiarity and attention grabbing. Other psychological biases beyond representativeness remain unexplored and warrant further study, particularly during crisis periods. Additionally, the use of secondary data suggests future research could benefit from primary data collection for deeper behavioral insights.
The Influence of Gold Price Fluctuations, Income, and Financial Management on Investment Decisions in Gold Savings with Investment Knowledge as a Moderating Variable Tina Ardianti; Dedi Hariyanto; Heni safitri
IECON: International Economics and Business Conference Vol. 3 No. 1 (2025): International Conference on Economics and Business (IECON-3)
Publisher : www.amertainstitute.com

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65246/3gn1sj92

Abstract

This study aims to analyze the influence of gold prices, income, and financial management on the decision to invest in gold savings among employees of PT Bank Syariah Indonesia, Tbk in Pontianak and Kubu Raya, with investor knowledge serving as a moderating variable. An associative research design was employed, with data collected from 151 employees using a saturated sampling technique. The data were analyzed using multiple linear regression and moderated regression analysis (MRA). The results of the study indicate that gold prices have a significant effect on investment decisions, whereas income and financial management do not have a significant impact. Investor knowledge was found to moderate the relationship between gold price fluctuations and investment decisions. These findings highlight the importance of understanding gold price movements and effective financial management when making investment decisions. The study is expected to contribute to the enhancement of financial literacy among employees
The Influence of Good Corporate Governance, Firm Size, and Profitability on Firm Value in Property and Real Estate Companies Listed on the Indonesia Stock Exchange Oksarini, Amalia; Hariyanto, Dedi; Safitri, Heni
JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) Vol 9, No 2. (2025): Journal of Humanities and Social Studies
Publisher : UNIVERSITAS PAKUAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33751/jhss.v9i2.12701

Abstract

This research aims to investigate the effect of Good Corporate Governance (GCG), firm size, and profitability on firm value among property and real estate companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024. The study employs a quantitative approach with an associative method. A sample of 74 companies was selected through purposive sampling based on predetermined criteria. Secondary data were collected using documentation techniques and analyzed using multiple linear regression with SPSS software. The results demonstrate that, simultaneously, independent commissioners, institutional ownership, audit committee, firm size, and profitability significantly affect firm value, with an adjusted R² of 87.4%. Partially, the variables of independent commissioners, institutional ownership, firm size, and profitability have a significant effect on firm value, while the audit committee does not. These findings highlight the critical role of strong corporate governance practices, optimal firm scale, and profitability in enhancing firm value. The study provides practical implications for corporate strategy and future research in the field of corporate performance measurement.
The Effect of Financial Knowledge, Financial Attitude, Financial Self-Efficacy, and Financial Socialization on the Financial Management Behavior of Working People in Ketapang Regency Putri, Amelia; Hariyanto, Dedi; Safitri, Heni
JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) Vol 9, No 2. (2025): Journal of Humanities and Social Studies
Publisher : UNIVERSITAS PAKUAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33751/jhss.v9i2.12692

Abstract

Good financial management is essential for achieving financial well-being, especially in the face of dynamic economic challenges. In Ketapang Regency, many working people experience difficulties in managing their personal finances, partly due to low financial literacy and attitudes. This study aims to analyze the influence of Financial Knowledge, Financial Attitude, Financial Self-Efficacy, and Financial Socialization on the Financial Management Behavior of working people in Ketapang Regency. The method used in this study is an associative study with a quantitative approach. Data was collected through a questionnaire distributed to 150 respondents who work in Ketapang Regency. Validity and reliability tests were conducted to ensure the research instrument, while multiple linear regression analysis was used to test the relationship between variables. The results of the study indicate that, simultaneously, Financial Knowledge, Financial Attitude, Financial Self-Efficacy, and Financial Socialization have a positive and significant influence on financial management behavior. Partially, each variable shows a positive and significant influence on Financial Management Behavior, including Financial Knowledge, Financial Attitude, Financial Self-Efficacy, and Financial Socialization. This study contributes to the development of more effective financial education programs, particularly for the working population in Ketapang District.
The Influence of Firm Size, Return on Assets, and Debt to Equity Ratio on Bond Ratings with Earnings Management as an Intervening Variable in Financial Companies on the Indonesian Stock Exchange From 2022 to 2024 Nurhayati, Aisah Dwi; Safitri, Heni; Hariyanto, Dedi
JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) Vol 9, No 2. (2025): Journal of Humanities and Social Studies
Publisher : UNIVERSITAS PAKUAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33751/jhss.v9i2.12697

Abstract

This study aims to examine the influence of firm size, Return on Assets (ROA), and Debt to Equity Ratio (DER) on bond ratings with earnings management as an intervening variable in financial companies listed on the Indonesian Stock Exchange from 2022 to 2024. Bond ratings are crucial for assessing the risk of bond defaults, and understanding the factors that influence these ratings can help companies, investors, and rating agencies make better decisions. Firm size, ROA, and DER have been identified as key financial indicators that affect bond ratings, but the role of earnings management as an intervening factor in this relationship remains underexplored. This study uses a purposive sampling method, focusing on 43 financial companies with investment-grade bond ratings. The data analysis includes financial ratio analysis, path analysis, and several classical assumption tests to ensure the validity of the regression model. The results of this study show that firm size, ROA, and DER do not have a significant direct or indirect influence on bond ratings. The coefficient of determination (R²) indicates that only 5.9% of the variation in bond ratings can be explained by these variables. These findings suggest that factors other than financial ratios, such as macroeconomic conditions or industry stability, may play a more significant role in determining bond ratings. The study recommends further research to explore additional variables and alternative methods for better understanding bond rating dynamics.
The Effect of Investment Motivation, Return, and Risk Perception on Stock Investment Decision-Making Among Investors in Pontianak City Salsabila, Putri Aurora; Hariyanto, Dedi; Safitri, Heni
JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) Vol 9, No 2. (2025): Journal of Humanities and Social Studies
Publisher : UNIVERSITAS PAKUAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33751/jhss.v9i2.12689

Abstract

This study aims to analyze the influence of investment motivation, return, and risk perception on stock investment decision-making among investors in Pontianak City. The method used is associative with a sample of 150 respondents selected using purposive sampling. The instruments were tested for validity, reliability, and classical assumptions such as normality, linearity, and multicollinearity. Data analysis used multiple linear regression, correlation tests, determination coefficients, and simultaneous and partial tests. The results of the multiple linear regression indicate that the three independent variables positively contribute to stock investment decisions. The correlation coefficients show a strong relationship between investment motivation, return, and risk perception with investment decisions. The coefficient of determination indicates that most of the variation in investment decisions can be explained by the three variables, while the rest is influenced by factors outside this study. Simultaneous tests show a significant combined effect of investment motivation, return, and risk perception on stock investment decisions. Partial tests indicate that investment motivation, return, and risk perception each have a positive and significant effect on stock investment decisions. This study confirms the importance of motivation, return expectations, and risk perception in determining investor decisions in the stock market in Pontianak.
The Influence of Financial Literacy, Financial Inclusion, and Ease of Use of the QRIS System on the Business Continuity of Culinary MSMEs in Pontianak City Khairunnisa, Hanna; Safitri, Heni; Hariyanto, Dedi
JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) Vol 9, No 2. (2025): Journal of Humanities and Social Studies
Publisher : UNIVERSITAS PAKUAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33751/jhss.v9i2.12703

Abstract

This study aims to analyze the influence of Financial Literacy, Financial Inclusion, and Ease of Use of the QRIS System on the Business Continuity of MSMEs in the culinary sector in Pontianak City. Employing a quantitative approach with an associative method and involving 150 respondents selected through purposive sampling, data were collected via questionnaires and analyzed using multiple linear regression with the assistance of SPSS. The findings indicate that, simultaneously, the three independent variables have a significant effect on business continuity. Partially, Financial Literacy and Ease of Use of QRIS show significant effects on business continuity, while Financial Inclusion does not demonstrate a significant impact. The coefficient of determination (R²) is 0.385, suggesting that 38.5% of the variation in business continuity can be explained by the three variables. These results underscore the importance of enhancing financial literacy and utilizing accessible technology to support the sustainability of MSMEs. Therefore, it is recommended that MSME actors strengthen their financial literacy and maximize the use of QRIS in daily operations. Meanwhile, the government and supporting institutions are encouraged to expand access to digital financial literacy training and to develop a more inclusive financial system. For future research, it is advisable to include additional variables such as service quality or business innovation and to consider mixed-method approaches and broader geographic coverage to obtain more comprehensive insights.
Co-Authors Abdurahman Abdurrahman Adela Putri, Sofia Ahmad Ali Djamhuri Andika Fahruzzi Anisa Dinda Rizky Apriansyah Aqcahya, Nabila Arif Didik Kurniawan Arin Rafani Aristawati, Karina Ayu Cecep Kusmana Cilci, Riri Fitria Darusman Darusman Dedek Ningsih Lingga Devi Yasmin Deviansyah Deviansyah Dwi Utami Kliman Edy Suryadi Eka Indah Raharjo Eni Eni Equeza Ermulyawati Eva Pujianti Fahmi 01 Felia Anadita Fitri Fenni Supriadi Ferdy Firmansyah Fita Kurniasari Fuad Ramdhan Ryanto Ghea Renova Karina Hamisah Hamisah Helman Fachri Heni Dwi Jayanti Heni Safitri Heni Safitri Heni Safitri Heni Safitri Herlina Seeng Ima Qurrota’ani Imariani Imariani Isna Safitri, Isna Isnaini Istifani Sucimanah Jestica Arifani Dilla Hardanti Karidan Karidan Khairunnisa, Hanna Khofifah, Nur Maisur Maisur Maulida Maulida Melinda Tri Sundari Midun Midun Miea Sari Muhammad Dairul Ma'rif Muhammad Razibi Muiszudin Muiszudin Mulyana Mulyana Nada Wulantika Neni Triana M. Ngadimin Ngadimin Nina Yulinda Nirmalasari Nirmalasari Nurhayati, Aisah Dwi Ocktolius Syaputra Oksarini, Amalia Pebriyanti Pustika, Titin Hestri Putri, Selvi Ananda Putri, Sukhesy Eka Ramadanti, Aulia Ramdhan Ryanto, Fuad Rayenda Khresna Brahmana Rian Sofiani Ririn Dwi Jayanti Riski Eka Yuliani Rita Kesumawati Rohman Rohman Romi Ferdian Romi Ferdian Rusmini Rusmini Salsabila, Putri Aurora Samsuddin Samsuddin Samsul Bahari Sandy Haryono Santy Mayda Batubara Sarinah Sarinah Sehariyo Wijoyo Selly Septiana Siti Rahmawati Sa’baniah Sofi Zulfarida Sova Ariska Subhan A Sukardi Sukardi Sukhesy Eka Putri Syifa Azizah Tina Ardianti Titin Hestri Pustika Tuti Kurniati Wahdah Wahdah Wahyu Darmawan Wendy Widya Apriyani Windi Rati Fritiwi Wulandari Wulandari Wulandari, Febi Zahari Zahari Zainudin, Amelia Nur Aini