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The Effect of Financial Literacy, Motivation, and Herding Effect on Investment Decisions with Emotional Intelligence as a Moderating Variable Vira Regina Salsabila; Tri Neliana
Indonesian Journal of Business Analytics Vol. 5 No. 3 (2025): June 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v5i3.14633

Abstract

With emotional intelligence serving as the moderating variable, this study investigates how financial literacy, investment motivation, and herding effect influence investment decisions. The quantitive research targets active students (1997-2012) in Ciayumajakuning who invest in capital market, using purposive sampling (135 sampels). The analysis technique used is Moderate Regression Analysis (MRA). The results in this study indicate that financial literacy and herding effect have a positive value and have a significant effect on investment decisions, while investment motivation has no significant effect, and each independent variable’s impact on the dependent variable cannot be moderated by emotional intelligence variables.  
Ownership Structure, Company Size, and Size of the Board of Commissioners on Risk Management Disclosure Indah Maulian Nur Ikhsan; Amalia Nur Patimah; Tri Neliana
Indonesian Journal of Advanced Research Vol. 3 No. 6 (2024): June 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v3i6.9853

Abstract

This study aims to provide empirical evidence regarding risk management disclosure through the perspective of shareholders, company size and board of commissioners. The measurement of the dependent variable, namely risk management disclosure in this study, is calculated using the total score of disclosure items based on the ISO:31000 dimension, including 5 dimensions, namely mandate and commitment, framework planning, risk management implementation, monitoring and continuous improvement according to ISO:31000 component standards. The sample used in this study is mining companies listed on the Indonesia Stock Exchange in 2019-2022. The sample was chosen using the purposive sampling technique, which took into account information availability and compliance with predetermined criteria. 21 companies were chosen after 84 observation data points were analyzed. The test on the hypothesis uses Multiple Linear RegressionThe study of this sample's data reveals that the degree of risk management disclosure is influenced by the factors of management ownership, firm size, and board of commissioners. Meanwhile, the variables of public ownership and foreign ownership have no effect on the level of risk management disclosure.
Leverage, Sales Growth, and ESG as Determinants of Financial Performance (Moderating Analysis of Board of Commissioners Size in Manufacturing Companies in Indonesia) Siti inayah; Tri Neliana
International Journal of Business, Economics, and Social Development Vol. 7 No. 2 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i2.1252

Abstract

This study examines the effects of leverage, sales growth, and Environmental, Social, and Governance (ESG) disclosure on the financial performance of manufacturing companies in Indonesia, with board size as a moderating variable. The research is motivated by the need to understand how internal financial and non-financial factors influence firm performance in a dynamic economic environment. A quantitative associative approach is employed using secondary data obtained from annual reports and sustainability reports of consumer goods manufacturing companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The data are analyzed using panel regression and moderated regression analysis. The results indicate that leverage has a negative and significant effect on financial performance, suggesting that higher debt levels reduce profitability. Sales growth, however, does not have a significant effect, implying that increased revenue does not necessarily translate into improved financial outcomes. In contrast, ESG disclosure shows a positive and significant effect, highlighting the importance of sustainability practices in enhancing firm performance. Furthermore, board size is not found to moderate the relationships between leverage, sales growth, ESG, and financial performance, indicating that the effectiveness of corporate governance depends more on the quality of oversight rather than the number of board members. Overall, this study emphasizes the importance of optimal capital structure and ESG implementation in improving financial performance, while also providing insights into the limited moderating role of board size in the manufacturing sector.