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All Journal Jurnal Manajemen Pemasaran dan Perilaku Konsumen Jurnal Management Risiko dan Keuangan
Aisjah , Siti
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Decision Sciences, Operations Research & Management

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Analisis Kesehatan Keuangan Menggunakan Rasio Keuangan dan Model Diskriminan Altman Z-Score Rafinda, Rifki Ryan; Aisjah , Siti
Jurnal Management Risiko dan Keuangan Vol. 2 No. 2 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2023.02.2.08

Abstract

The objective of this research is to identify the financial health of cellular telecommunication companies listed on the Indonesia Stock Exchange. The sample of this quantitative descriptive study is four companies, selected using saturated sampling technique. The research data is the companies’ financial reports during the 2018-2021 period, which was analyzed descriptively using financial ratios (i.e., liquidity, activity, solvability, and profitability ratios) and the Altman Z-Score model. This study finds that PT Telkom Indonesia (Persero) Tbk has a good financial health according to the measurement using all of the analytical tools. Then, PT XL Axiata Tbk has low financial health based on the results of all measurements. PT Smartfren Telecom Tbk has good financial health based on its solvability ratio and low financial health based on its liquidity, activity, and profitability ratios. PT Indosat Tbk has good financial health based on its activity ratio and low financial health based on its liquidity, solvability, and profitability ratios. Further, the results of the measurement using the Altman Z-Score model suggest that PT Smartfren Telecom Tbk, PT XL Axiata Tbk, and PT Indosat Tbk are in distressed category, or indicated to face financial problems.   Abstrak Penelitian ini bertujuan untuk mengetahui tingkat kesehatan keuangan pada perusahaan operator seluler yang terdaftar di Bursa Efek Indonesia. Jenis penelitian ini adalah penelitian deskriptif dengan pendekatan kuantitatif. Penelitian ini menggunakan sampel sebanyak 4 perusahaan. Data yang digunakan merupakan laporan keuangan perusahaan periode 2018-2021. Pengambilan sampel menggunakan teknik sampling jenuh.. Alat analisis yang digunakan adalah rasio keuangan yang meliputi rasio likuiditas, aktivitas, solvabilitas, profitabilitas dan model Altman Z-Score dengan metode analisis deskriptif. Hasil penelitian menunjukkan bahwa PT. Telkom Indonesia (Persero) Tbk memiliki kesehatan keuangan yang baik berdasarkan semua alat analisis yang digunakan. PT. XL. Axiata Tbk memiliki kesehatan keuangan yang kurang baik berdasarkan semua jenis rasio yang digunakan. PT. Smartfren Telecom Tbk memiliki kesehatan keuangan yang baik berdasarkan rasio solvabilitas, sedangkan berdasarkan rasio likuiditas, aktivitas, dan profitabilitas dinilai memiliki kesehatan keuangan yang kurang baik. PT. Indosat Tbk memiliki kesehatan keuangan yang baik berdasarkan rasio aktivitas, sedangkan berdasarkan rasio likuiditas, solvabilitas, dan profitabilitas dinilai memiliki kesehatan keuangan yang kurang baik. PT Smartfren Telecom Tbk, PT XL Axiata Tbk, PT Indosat Tbk semua masuk kedalam kategori distress atau terindikasi mengalami kesulitan keuangan berdasarkan model Altman Z-Score.
Analisis Kinerja Keuangan Perusahaan Merger dan Akuisisi dengan Pendekatan Risk-Based Bank Rating Diniartha, Feb Floma; Aisjah , Siti
Jurnal Management Risiko dan Keuangan Vol. 2 No. 4 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2023.02.4.02

Abstract

The purpose of this quantitative descriptive research is to identify the health levels of banks two years prior and two years after their mergers and acquisitions in the 2019-2021 period. The approach used in this study is Risk-Based Bank Rating (RBBR), which incorporates the RGEC (Risk Profile, Good Corporate Governance (GCG), Earnings, and Capital) method. The research objects are banks that were merged and acquisitioned during the 2019-2021 period. using purposive sampling technique, four banks that met the criteria were selected as the research sample. This research incorporates secondary data which was procured from the documentation on the companies’ annual financial reports published in the banks’ official websites. Using comparative approach, the data was processed using the RGEC ratios and was analyzed, from which the results were used to draw some conclusions. This study finds that, most of the banks are healthy in the aspect of risk profile, good in the GCG aspect, very healthy in the earnings aspect, and very healthy in terms of capital. Further, based on the entire components of RGEC, the four banks, in general, has attained the Composite 2 ranks after the mergers and the acquisitions. This indicates that the banks are healthy and able to cope with the significant adverse effects caused by business condition changes and other external factors such as the threat of Covid-19 Pandemic.     Abstrak Penelitian ini bertujuan untuk mengetahui tingkat kesehatan Bank yang melakukan aksi merger dan akuisisi periode 2019-2021 yaitu dua tahun sebelum dan dua tahun sesudah merger dan akuisisi dengan pendekatan Risk-Based Bank Rating (RBBR) yang menggunakan metode RGEC (Risk Profile), Good Corporate Governance (GCG), Earnings, dan Capital). Objek penelitian yang digunakan adalah Bank yang melakukan merger dan akuisisi periode 2019-2021. Pengambilan sampel menggunakan teknik purposive sampling yang kemudian diperoleh 4 Bank sebagai sampel yang memenuhi kriteria. Jenis penelitian yang digunakan yaitu deskriptif kuantitatif dengan pendekatan komparatif melalui data sekunder yang diperoleh dengan metode dokumentasi berupa laporan keuangan tahunan yang diakses melalui situs resmi Bank. Data diolah dengan menggunakan rasio-rasio RGEC kemudian dianalisis dan ditarik suatu kesimpulan. Hasil penelitian ini menunjukkan bahwa dari aspek Risk Profile mayoritas Bank menunjukkan kondisi yang “Sehat”, aspek GCG menunjukkan kondisi Bank “Baik”, aspek Earnings menunjukkan kondisi Bank “Sangat Sehat”, dan aspek Capital menunjukkan kondisi Bank “Sangat Sehat”. Melalui hasil penetapan peringkat komposit berdasarkan keseluruhan komponen RGEC, secara umum keempat Bank memperoleh peringkat komposit 2 (PK-2) sesudah aksi merger dan akuisisi yang mengindikasikan bahwa Bank berkondisi “Sehat” dan dinilai mampu menghadapi pengaruh negatif yang signifikan dari perubahan kondisi bisnis dan faktor eksternal lainnya seperti Pandemi Covid-19.
Pengaruh Brand Image, Brand Trust, Dan Celebrity Endorser, Terhadap Keputusan Pembelian Konsumen Riska, Mega Cahya; Aisjah , Siti
Jurnal Manajemen Pemasaran dan Perilaku Konsumen Vol. 3 No. 3 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmppk.2024.03.3.25

Abstract

The objective of this research is to examine the influences of brand image, brand trust, and celebrity endorser on consumers’ decision to purchase from an online shop Isikost.Malang. Using purposive sampling technique, 151 people with the minimum age of seventeen years who know about Isikost. Malang and have made any purchase form the online shop were selected as the respondents. This study uses secondary and primary data, which was harvested from questionnaires distributed via Google Forms. The data was assessed using validity test, reliability test, and classical assumption test, and the hypotheses were tested using t-test and F test; all of which were performed in SPSS Statistics 26. This study finds that brand image, brand trust, and celebrity endorser positively and significantly influence the decision of consumers to purchase form Isikost.Malang. The results of this research are expected to prove empirical evidences for future studies and help the company develop its brand image, brand trust, and celebrity endorsement.   Abstrak Penelitian ini bertujuan untuk meneliti brand image, brand trust, dan celebrity endorser terhadap keputusan pembelian konsumen pada Online shop Isikost.Malang. Penelitian ini menggunakan data primer dan sekunder serta menggunakan teknik purposive sampling karakteristik sampel yang dipilih yaitu, minimal berusia 17 tahun, mengetahui online shop Isikost.malang, pernah berbelanja di online shop tersebut. Jumlah sampel yang terkumpul sebanyak 151 responden dengan menyebarkan kuesioner menggunakan Google Form. Teknik analisis data menggunakan uji validas, uji reliabilitas, uji asumsi klasik dan uji hipotesis dilakukan dengan menggunakan uji t dan uji f dengan menggunakan program SPSS Statistics 26. Hasil penelitian menunjukkan bahwa brand image, brand trust, dan celebrity endorser berpengaruh positif dan signifikan terhadap keputusan pembelian konsumen pada Online shop Isikost.Malang. Penelitian ini diharapkan dapat memberikan bukti empiris untuk penelitian selanjutnya serta dapat membantu perusahaan dalam mengembangkan brand image, brand trust, dan celebrity endorse.
Pengaruh Kinerja Keuangan Perusahaan Terhadap Return Saham Ramadhan, Bimansyah Saktiaji; Aisjah , Siti
Jurnal Management Risiko dan Keuangan Vol. 3 No. 4 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2024.03.4.04

Abstract

The objective of this research is to identify the effects of company financial performance, which is proxied by Quick Ratio (QR), Debt-to-Equity Ratio (DER), and Earnings Per Share (EPS), on the stock returns of mining companies. The population is 47 mining companies listed on the Indonesia Stock Exchange that have consecutively paid their dividend during the 2016-2020 period. Using purposive sampling, ten of them were selected as the sample. The data of this research was analyzed using descriptive statistics, classical assumption test, hypothesis test (R2, F, and t tests), and multiple linear regression. The results of the analyses indicate that quick ration significantly influences stock return, that dent-to-equity ratio significantly affects stock return, return on equity significantly impacts stock return, and that earning per share significantly influences stock return. Therefore, it can be concluded that financial performance has significant effects on stock return.   Abstrak Tujuan penelitian ini untuk mengetahui Pengaruh Kinerja Keuangan Perusahaan yaitu quick ratio (QR), debt to equity ratio (DER), return on equity (ROE), earning per share (EPS) terhadap return saham pada perusahaan pertambangan. Populasi penelitian ini adalah perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia (BEI) yang membayarkan dividen secara terus menerus selama periode 2016-2020. Metode pengambilan sampel dalam penelitian ini menggunakan purposive sampling menghasilkan 20 sampel perusahaan dengan total keseluruhan populasi 47. Metode analisis data yang digunakan dalam penelitian ini yaitu statistik deskriptif dan menggunakan uji asumsi klasik dan uji hipotesis (uji R2, F, dan uji t) dengan metode analisis regresi linier berganda. Berdasarkan hasil analisis menunjukkan quick ratio berpengaruh signifikan terhadap return saham, debt to equity ratio berpengaruh signifikan terhadap return saham, return on equity berpengaruh signifikan terhadap return saham, earning per share berpengaruh signifikan terhadap return saham. Hasil tersebut menunjukkan bahwa kinerja keuangan perusahaan berpengaruh signifikan terhadap return saham.
The Effects of Financial Technology, Financial Attitude, and Financial Literacy on Financial Management Behaviors Putri, Intan Uriana; Aisjah , Siti
Jurnal Management Risiko dan Keuangan Vol. 4 No. 3 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.3.06

Abstract

In the modern era characterized by economic complexity and rapid technological advances, an individual's ability to manage finances becomes very crucial. The objective of this quantitative research is to analyze the impacts of financial technology, financial attitudes, and financial literacy on the financial management behaviors. The objects are undergraduate students of Universitas Brawijaya. This research uses a quantitative approach with multiple linear regression analysis methods. The data of this harvested from 5-point Likert-scaled closed questionnaires. The sample used in this research was 100 respondents with the criteria of being undergraduate students of Universitas Brawijaya batches of 2021 and 2022, still in the age range of 17-25 years, and having used financial technology products at least 2 products. The results of the multiple linear regression analysis indicate that the three independent variables positively influence the students’ financial management behavior. This research shows that increasing financial literacy, forming positive financial attitudes, and wise use of financial technology can encourage healthier financial management behavior among students.  
Co-Authors Diniartha, Feb Floma Putri, Intan Uriana Rafinda, Rifki Ryan Ramadhan, Bimansyah Saktiaji Riska, Mega Cahya