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All Journal Equator Journal of Management and Entrepreneurship Journal Of Management Science (JMAS) Bantenese Jurnal Pengabdian Masyarakat International Journal of Economics, Business and Accounting Research (IJEBAR) Community Development Journal: Jurnal Pengabdian Masyarakat Prima Abdika: Jurnal Pengabdian Masyarakat eCo-Fin Journal of Management and Digital Business Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi) Jurnal Multidisiplin West Science Madani: Multidisciplinary Scientific Journal Journal of Educational Management Research Jurnal Multidisiplin International Journal of Economics, Business Management and Accounting Primary Journal of Multidisciplinary Research
Mustika, Uray Ndaru
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Dampak Ramadhan Effect Terhadap Abnormal Return Dan Trading Volume Activity Saham Pada Perusahaan Indeks LQ45 Yang Terdaftar di BEI Tahun 2020-2024 Fajar, Fajar; Azazi, Anwar; Ramadania, Ramadania; Wendy, Wendy; Mustika, Uray Ndaru
Jurnal Multidisiplin West Science Vol 4 No 06 (2025): Jurnal Multidisiplin West Science
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/jmws.v4i06.2286

Abstract

Pasar modal mencerminkan respons investor terhadap informasi, sebagaimana dijelaskan dalam Teori Sinyal dan Hipotesis Pasar Efisien (EMH). Namun, anomali musiman seperti Ramadhan Effect menimbulkan keraguan terhadap validitas EMH, khususnya di Indonesia. Studi sebelumnya mengenai dampaknya terhadap Abnormal Return (AR) dan Trading Volume Activity (TVA) menunjukkan hasil yang tidak konsisten, sehingga diperlukan kajian lanjutan. Penelitian ini bertujuan untuk mengkaji dampak Ramadhan Effect terhadap Abnormal Return dan Trading Volume Activity pada perusahaan Indeks LQ45 yang terdaftar di BEI selama tahun 2020–2024. Metode yang digunakan adalah event study dengan pendekatan market model, serta analisis data panel dari sumber sekunder. Pengujian dilakukan menggunakan uji paired sample t-test dan wilcoxon signed-rank test melalui program SPSS versi 27. Hasil studi ini menunjukkan tidak terdapat perbedaan signifikan pada AR, namun terdapat peningkatan signifikan pada TVA sebelum dan sesudah Ramadan.
Profitabilitas sebagai Mediator Pengaruh Risiko, Modal, Tata Kelola, dan Efisiensi terhadap Pertumbuhan Laba Bank Yubileus, Fransisco; Azazi, Anwar; Ramadania, Ramadania; Mustika, Uray Ndaru
Primary Journal of Multidisciplinary Research Vol. 1 No. 3 (2025): Primary Journal of Multidisciplinary Research, June 2025
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/pjmr.v1i3.202

Abstract

This study investigates the mediating role of profitability, as measured by Return on Assets (ROA), in the relationship between credit risk (Loan Loss Provision/LLP), capital adequacy (Capital Adequacy Ratio/CAR), operational efficiency (BOPO), and board size on Return on Equity (ROE) growth within Indonesia’s banking sector. The study is grounded in the growing competition in the industry and the demand for robust financial performance amidst the ongoing transformation from conventional to digital banking. The dataset comprises quarterly financial statements from 13 banks over the 2020–2024 period, yielding 260 total observations. Panel data regression and Sobel test-based mediation analysis were employed using EViews 12 software. The findings reveal that ROA significantly mediates the negative effect of LLP and BOPO on ROE growth, and positively mediates the influence of board size. Conversely, the mediating role of ROA in the relationship between CAR and ROE growth was not statistically significant. These results underscore the strategic importance of profitability in linking managerial and operational factors to the financial growth of banks. The practical implication highlights the need for banks to prioritize risk management and operational efficiency to support sustainable earnings growth.
Pengaruh Literasi Keuangan dan Faktor Demografi terhadap Perilaku Menabung Gen Z, dengan Moderasi Lifestyle Fahruna, Yulyanti; Dephary, Riatma Dita Perdana Sembiring; Mustika, Uray Ndaru; Syahputri, Anggraini
Madani: Jurnal Ilmiah Multidisiplin Vol 3, No 6 (2025): July 2025
Publisher : Penerbit Yayasan Daarul Huda Kruengmane

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.15854260

Abstract

Saving behavior among Generation Z in Indonesia tends to be relatively low. One of the contributing factors is their close relationship with technology and social media, which influences their financial habits. In addition, the generally low level of financial literacy also plays a role in shaping their saving behavior.This study aims to examine whether financial literacy significantly influences the saving behavior of Generation Z in Indonesia and whether lifestyle serves as a moderating variable in this relationship. The research employs a quantitative approach, with data collection and analysis carried out using the SmartPLS 4.0.9.9 software. The testing includes assessments of validity, reliability, the coefficient of determination, and significance tests.The results indicate that financial literacy and demographic factors have a significant impact on saving behavior. However, lifestyle does not moderate the relationship between financial literacy and saving behavior, as its influence is limited. This research is expected to serve as a reference for policymakers to enhance financial literacy and promote saving behavior among the public.
Determinant of Firm Value and the Role of Firm Size as a Moderating Variable: Empirical Evidence from Top 100 Listed Companies in Indonesia Eka, Yuliana Yuspita; Azazi, Anwar; Syahbandi; Wendy; Mustika, Uray Ndaru
International Journal of Economics, Business Management and Accounting (IJEBMA) Vol. 7 No. 2 (2025): July 2025
Publisher : MultiTech Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59890/ijebma.v7i2.3091

Abstract

Firm value reflects investors’ confidence in a company’s management capabilities, ultimately affecting their financial returns. Assessing a firm's value is crucial for investment decisions as it shapes investor perceptions. This research aims to examine the influence of profitability, tax planning, and leverage on firm value in Indonesian companies listed on the Kompas 100 index, with firm size as a moderating variable. The samples were selected using purposive sampling, yielding 222 observations from 37 companies. The panel data were analyzed using moderated regression analysis with EViews 13. The findings reveal that whereas leverage has no appreciable beneficial effect on firm value, profitability and tax planning do. Furthermore, firm size significantly moderates these relationships, enhancing the positive effects of profitability and tax planning, and mitigating the negative impact of leverage on firm value. This research implies that in corporate management should prioritize profitability through operational efficiency and sustainable growth strategies, and utilize legal and efficient tax planning to enhance firm value
Literasi Keuangan, Teknologi Keuangan, Dan Pengelolaan Keuangan Pribadi : Pengujian Efek Interaksi Locus Of Control Sapitri, Elsi Nanda; Wendy, Wendy; Syahputri, Anggraini; Azazi, Anwar; Mustika, Uray Ndaru
Jurnal Multidisiplin Vol. 2 No. 1 (2025): September
Publisher : CV. Utami

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70963/jm.v2i1.278

Abstract

This study aims to evaluate how financial literacy, financial technology utilization, and financial management are influenced by personal control center as an interaction factor. Participants in this study were active students of the Economics and Business study program at Tanjungpura University, Pontianak City. The sampling technique used purposive sampling technique through questionnaires. The analysis technique used in this research is regression analysis with moderator effects with the help of the Smart-PLS version 4.0 statistical tool. The amount of data analyzed came from 273 respondents. The findings of this study indicate that financial literacy and technology play a positive and significant role in the ability of individuals in individual financial management. Personal control center was found to strengthen the relationship between financial literacy and personal budgeting ability.
Peran Moderasi Profitabilitas dalam Pengaruh CSR dan GCG terhadap Nilai Perusahaan pada Perusahaan Tambang di Indonesia Triamanda, Deni; Malini, Helma; Mustika, Uray Ndaru; Syahputri, Anggraini
eCo-Fin Vol. 7 No. 3 (2025): eCo-Fin
Publisher : Komunitas Dosen Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32877/ef.v7i3.2594

Abstract

This study examines the effect of Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) on firm value, with Return on Assets (ROA) as a moderating variable. The research was conducted on mining sector companies listed on the Indonesia Stock Exchange during the 2019–2023 period, using purposive sampling techniques with a total of 120 observations (firm-year). Data analysis was performed using panel data regression with the Random Effect Model approach and interaction testing through Moderated Regression Analysis (MRA). The results show that CSR and GCG have no significant effect on firm value (proxied by Price to Book Value/PBV). Meanwhile, ROA has a negative and significant effect on firm value. In addition, the interactions of CSR_ROA and GCG_ROA are also not significant, indicating that profitability does not moderate the relationship between CSR and GCG on firm value. These findings indicate that in the mining sector, profitability, CSR, and GCG are not yet strong indicators influencing investor perception. Profitability without a clear earnings utilization strategy can reduce market confidence, and CSR or GCG implementation that is merely formal does not enhance firm value.
INTEGRATION OF ERROR CORRECTION MODEL IN TESTING THE INTERACTION EFFECT OF CREDIT GROWTH AND BANKING RISK MANAGEMENT IN INDONESIA Wahyuni, Adinda; Giriati, Giriati; Wendy, Wendy; Mustaruddin, Mustaruddin; Mustika, Uray Ndaru
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 9 No 1 (2025): Edisi Januari - April 2025
Publisher : LPPM STIE Muhammadiah Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31955/mea.v9i1.4994

Abstract

This study explores the impact of market risk, operational risk, liquidity risk, and solvency risk, while also investigating the moderating effect of credit growth on bank performance. The Error Correction Model-Eagle Granger (ECM-EG) methodology was applied to data from 2014 to 2023. Findings indicate that, in the short term, market and operational risks significantly impact bank performance. In the long term, only solvency risk does not significantly affect bank performance. Additionally, credit growth moderates the relationship between market and liquidity risks and bank performance in the short term, while in the long term, it only moderates the relationship between market risk and bank performance. Our empirical findings demonstrate that effective risk management enhances bank performance. This research provides valuable insights for policymakers, researchers, and academics in fostering a conducive environment for corporate activities.
Literasi Keuangan Anak Usia Dini melalui Menabung dengan Celengan Daur Ulang Kreatif Fransika, Widya; Mustika, Uray Ndaru; Rafida, Siti Jihan; Christina, Christina; Patricia, Cindy; Fatmi, Mutia
Prima Abdika: Jurnal Pengabdian Masyarakat Vol. 5 No. 3 (2025): Volume 5 Nomor 3 Tahun 2025
Publisher : Program Studi Pendidikan Guru Sekolah Dasar Universitas Flores Ende

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37478/abdika.v5i3.6621

Abstract

This community service aims to improve children’s financial literacy from an early age through socialization activities and creative training at SDN 27 Cempedak. The lack of students’ understanding of the importance of saving serves as the background for the need for enjoyable and practical financial education. The activities carried out include socialization about the benefits and purposes of saving, as well as training in making piggy banks from recycled materials such as plastic bottles, decorative paper, and origami paper as learning media. The implementation method uses a participatory and interactive approach that directly involves students. The results of the activities showed an increase in students’ understanding of the concept of saving, the emergence of motivation to set aside pocket money, and the development of creativity through handicraft activities. This program has had a positive impact in instilling the habit of saving, fostering a frugal and independent character, and introducing the concept of simple financial planning from an early age. It is expected that this activity can continue to be developed into a positive culture in schools with the support of active roles from both parents and the school.
Analisis Faktor-Faktor yang Mempengaruhi Underpricing Saham Pada Saat Initial Public Offering di Bursa Efek Indonesia Periode Tahun 2020-2022 Mustika, Uray Ndaru
Equator Journal of Management and Entrepreneurship (EJME) Vol 13, No 2 (2025): Equator Journal of Management and Entrepreneurship
Publisher : Universitas Tanjungpura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26418/ejme.v13i2.87272

Abstract

Penelitian ini bertujuan untuk mengkaji Faktor-Faktor yang Mempengaruhi Underpricing Pada Saat Initial Public Offering Saham di Bursa Efek Indonesia Periode Tahun 2020-2022 dengan fokus utama kajian Manajemen Keuangan. Penelitian ini adalah penelitian kuantitatif. Kerangka analisis yang digunakan dalam penelitian ini menggabungkan dimensi waktu (time series), yang merupakan pengumpulan data yang dilakukan selama kurun waktu tertentu dan dikumpulkan dengan jarak waktu tetap, serta keanekaragaman perusahaan (cross-sectional), yang merupakan pengumpulan satu atau lebih variabel untuk beberapa sampel subjek atau unit dalam waktu yang sama. Data panel, atau polled data, adalah istilah lain untuk kombinasi kerangka analisis ini. Perusahaan yang melakukan Initial Public Offering (IPO) di Bursa Efek Indonesia pada tahun 2020-2022 adalah subjek penelitian. Sampel dipilih berdasarkan pembatasan permasalahan  penelitian. Teknik purposive sampling digunakan dengan  melakukan pemilihan sampel berdasarkan pertimbangan dan kriteria tertentu yang ditetapkan. Hasil dari pengumpulan data seluruh variabel diolah dengan menggunakan program SPSS versi 25.
PENGEMBANGAN PARIWISATA BUDAYA LOKAL DENGAN INOVASI DAN PENINGKATAN DAYA TARIK WISATA DI KAMPUNG CAPING Saputra, Pramana; Ramadhan, Rizani; Karsim, Karsim; Yakin, Ikram; Mustika, Uray Ndaru; Daud, Ilzar; Afifah, Nur
Community Development Journal : Jurnal Pengabdian Masyarakat Vol. 5 No. 2 (2024): Volume 5 No. 2 Tahun 2024
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/cdj.v5i2.26638

Abstract

Desa wisata memiliki nilai penting baik dari perspektif ekonomi, sosial, budaya, maupun lingkungan. Desa wisata selain dapat menjadi sumber penghasilan ekonomi bagi masyarakat setempat, juga kaya akan warisan budaya dan tradisi yang unik. Melalui pengembangan desa wisata, aspek-aspek ini dapat dilestarikan dan dipromosikan, serta mencegah kemungkinan terkikisnya budaya lokal oleh modernisasi. Pengembangan wisata budaya lokal menjadi fokus utama dalam upaya meningkatkan daya tarik wisata di Kampung Caping. Proposal ini mengusulkan serangkaian inisiatif inovatif yang bertujuan untuk memperkaya pengalaman wisatawan serta memperkuat ekonomi lokal. Melalui pendekatan partisipatif dengan melibatkan masyarakat setempat, kami merencanakan implementasi program yang menggali dan mempromosikan kekayaan budaya kampung Caping secara berkelanjutan. Langkah-langkah inovatif termasuk edukasi dan pemberdayaan masyarakat sekitar dan pemanfaatan teknologi informasi maka dengan itu dibuatlah website, social media dan QR-code untuk memperluas jangkauan promosi pariwisata. Dengan fokus pada pelestarian warisan budaya dan pengembangan ekonomi lokal, Pengabdian kepada Masyarakat ini diharapkan dapat menjadi landasan bagi pengembangan pariwisata edukasi berkelanjutan di Kampung Caping dan memberikan dampak positif bagi masyarakat yang terlibat.
Co-Authors Adi Suripto, Adi Ahmad Shalahuddin, Ahmad Alif, Gattuso Putra Ana Fitriana Anwar Azazi Aulia, Syafitri Christina Christina Daud, Ilzar Dephary, Riatma Dita Perdana Sembiring Eka, Yuliana Yuspita Fahruna, Yulyanti Fajar Fajar Fatmi, Mutia Fransika, Widya Giriati, Giriati Hafizi, Mohamad Helma Malini Helma Malini, Helma Heriyadi, Heriyadi Ikram Yakin Juniwati Juniwati Kalista, Apriwina Yulita Karsim, Karsim Khaulah, Haya Inayah Maria Magdalena Muhammad Afif Mustaruddin Patricia, Cindy Perawati Perawati, Perawati Pramana Saputra Rafida, Siti Jihan Ramadania Ramadania, Ramadania Ramadhan, Rizani Rebeka, Kalista Ristyawan, Mochammad Ridwan Sapitri, Elsi Nanda Sartika, Lili Syahbandi Syahputri, Anggraini Titik Rosnani Triamanda, Deni Verawati Verawati Wahyuni, Adinda Wendy Wendy Yubileus, Fransisco Yulianti, Yessy Irena