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All Journal International Journal of Educational Review, Law And Social Sciences (IJERLAS) International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Indonesian Journal of Business Analytics (IJBA) Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA)
Nisrul Irawati
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Religion Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences Other

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COMPARISON ANALYSIS OF INDEX IDX30 OPTIMAL SHARE PORTFOLIO WITH INDONESIAN EQUITY FUND PORTFOLIO PERFORMANCE Yoko Mashonia Panjaitan; Nisrul Irawati; Isfenti Sadalia
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 1 (2023): July
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v1i5.69

Abstract

Based on the results of the study, the conclusions that can be drawn are as follows. The optimal portfolio calculation results on the Single Index Model method for stocks show that stocks with UNVR issuers are the only ones that are optimal. Whereas in Mutual Funds there is no optimal portfolio calculation results. The results of calculations using the Markowitz method for all stock issuers obtained a return value of 0.000634 with a risk of 0.036057, namely at alpha 0.9. Meanwhile, for all stock mutual fund issuers, a return value of 0.003195 was obtained with a risk of 0.033629, namely at alpha 0.9. Compared to calculations using the Single Index Model Method for all stocks, a return value of 0.0050 is obtained with a risk of 0.0218, while for Equity Mutual Fund issuers a return value of 0.0072 is obtained with a risk of 0.0194, in this case the calculation of the optimal portfolio in stocks and mutual funds using the Markowitz Method produces a smaller return and greater risk than the Single Index Model method. The Single Index Model method which produces stock return calculations is superior to the Markowitz method. This is obtained from the results of the return value obtained on the Single Index Model which is greater than the Markowitz model so that stock investment will be more profitable if using the Single Index Model method. The Single Index Model method is superior to the Markowitz method in calculating mutual fund returns. This is obtained from the results of the return value obtained in the Single Index Model which is greater than the Markowitz model so that mutual fund investment will be more profitable if using the Single Index Model method. The Single Index Model method is superior to the Markowitz method in calculating stock risk. This is obtained from the results of the stock risk value obtained in the Single Index Model which is smaller than the Markowitz model so that stock investment will be riskier if using the Markowitz method. The Single Index Model method is superior to the Markowitz method in calculating mutual fund risk. This is obtained from the results of the mutual fund risk values obtained in the Single Index Model which are smaller than the Markowitz model so that mutual fund investments will be riskier if using the Markowitz method.
FINANCIAL RATIO ANALYSIS IN PREDICTING FINANCIAL DISTRESS CONDITIONS BUMN COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE DURING THE COVID-19 PANDEMIC WITH USING THE ALTMAN Z-SCORE METHOD Aslam Rayuda; Nisrul Irawati; Isfenti Sadalia
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.110

Abstract

The research is that having sufficient working capital is very important for a company because with sufficient working capital it is possible for the company to operate as economically as possible and the company does not experience difficulties or face dangers that may arise due to a crisis or financial chaos. Companies with negative net working capital have a high probability of facing difficulties in paying off their short-term liabilities, because there are not enough current assets to cover these liabilities. A cumulative profitability measure that reflects a company's age as well as the company's earnings power. Profitable operations and debt reduction are characterized by companies retaining profits or reinvesting operating profits. Low retained earnings can indicate a bad business year or reduced company life. This ratio is an indicator that shows management efficiency in managing production, sales, administration and other activities. The lower the EBITTA ratio value indicates the lower productivity of assets in generating profits. The EBIT to total assets ratio shows the effectiveness of using all assets in generating company sales. The greater the value of this ratio, the more effective the management of all assets owned by the company. Earnings Before Interest and Tax to Total Assets (EBITTA) is one of the profitability ratios. This analysis is used to measure a company's ability to manage its resources effectively which can be seen from the results of its sales and investments. The EBITTA ratio measures whether a company's assets are used rationally to generate profits from its operating activities. If the resulting ratio is high, then the company's assets have been used rationally so that it can reduce the occurrence of Financial Distress. On the other hand, a low EBITTA ratio indicates that the company is likely to experience financial distress. The implication of this research is that this ratio is used to measure management's ability to use assets to generate sales and describe the turnover rate of all company assets. This ratio, which has a positive value, is a sign that the company has a good ability to use assets to generate sales and has a high level of asset turnover.
ANALYSIS OF THE INFLUENCE OF CAMELS FACTORS ON PROFITABILITY AT PT. BANK MANDIRI (PERSERO) TBK Mayang Palupi; Nisrul Irawati; Chairul Muluk
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 2 No. 2 (2023): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v2i2.116

Abstract

This research aims to determine the effect of the CAMELS ratio on the financial profitability of PT. Bank Mandiri (Persero) Tbk. This research uses CAMELS ratios, namely Capital Adequacy Ratio (CAR), Non Performing Loans (NPL), Interest Expenses to Total Loans (IETTL), Net Interest Margin (NIM), Operational Costs to Operating Income (BOPO), Loan to Deposit Ratio ( LDR) and Net Open Position (PDN) on financial profitability as measured using Return On Assets (ROA) and Return On Equity (ROE). The research sample was selected using purposive sampling. The statistical test tool is SPSS 26 which is carried out using the classic assumption test and multiple linear regression analysis. The research results show that Capital Adequacy Ratio (CAR), Interest Expense to Total Loan (IETTL), Net Interest Margin (NIM), Loan to Deposit Ratio (LDR) have a positive effect on Return on Assets (ROA). Non-Performing Loans (NPL), Operational Costs to Operating Income (BOPO), Net Open Position (PDN) have a significant and negative effect on Return on Assets (ROA). Meanwhile, Interest Expense on Total Loans (IETTL), Net Interest Margin (NIM) have a positive effect on Return on Assets (ROA). Capital Adequacy Ratio (CAR), Non-Performing Loans (NPL), Operational Costs to Operating Income (BOPO), Loan to Deposit Ratio (LDR) and Net Open Position (PDN) have a negative effect on Return on Assets (ROE).
THE INFLUENCE OF RISK PERCEPTION, FINANCIAL LITERACY, AND BEHAVIORAL MOTIVATION ON INVESTMENT DECISIONS OF INVESTORS AT PT. MIRAE ASSET SECURITIES INDONESIA GALLERY MEDAN Januar Samuelson Gea; Syahyunan; Nisrul Irawati
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 2 (2024): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i2.196

Abstract

This research aims to analyze the influence of risk perception, financial literacy, and behavioral motivation on investment decisions among investors at PT Mirae Asset Sekuritas Indonesia Galeri Medan. The research method employed is a causal associative study using a quantitative approach. The study population consists of 518 investors who have invested with PT Mirae Asset Sekuritas Indonesia Galeri Medan. The sampling technique used is nonprobability sampling via simple random sampling, resulting in 84 respondents as the research sample. Data collection was carried out by distributing questionnaires to the participants. The research findings indicate that simultaneously, the variables of risk perception, financial literacy, and behavioral motivation significantly influence investment decisions at PT Mirae Asset Sekuritas Indonesia Galeri Medan. Partially, risk perception has a non-significant negative effect on investment decisions at PT Mirae Asset Sekuritas Indonesia Galeri Medan, financial literacy has a significant positive influence on investment decisions at PT Mirae Asset Sekuritas Indonesia Galeri Medan, and behavioral motivation has a non-significant positive effect on investment decisions at PT Mirae Asset Sekuritas Indonesia Galeri Medan.
The Impact of Intellectual Capital (Mvaic) on Financial Leverage in the Asean Telecommunication Industry: The Mediating Role of Firm Profitability Marta KN Pasaribu; Isfenti Sadalia; Nisrul Irawati
Indonesian Journal of Business Analytics Vol. 5 No. 2 (2025): April 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v5i2.14105

Abstract

Intellectual Capital (IC) significantly enhances financial performance and influences capital structure. This study examines IC's impact on financial leverage using the Modified Value Added Intellectual Coefficient (MVAIC), mediated by firm profitability. IC components—Human Capital Efficiency (HCE), Structural Capital Efficiency (SCE), Relational Capital Efficiency (RCE), and Capital Employed Efficiency (CEE)—are analyzed in 120 ASEAN telecommunication firms through panel data regression. Findings confirm IC positively affects profitability (ROA), supporting Resource-Based Theory, while profitability negatively influences financial leverage (DAR), aligning with Pecking Order Theory. Among IC components, only CEE significantly impacts ROA and DAR via profitability mediation. Firms with high capital efficiency achieve better profitability and lower external debt dependence, emphasizing IC management for financial stability.
ANALYSIS OF DETERMINANTS OF COMPOSITE STOCK PRICE INDEX THROUGH STOCK TRANSACTION VOLUME ON THE INDONESIA STOCK EXCHANGE Rahmad Zulhiansyah Simatupang; Isfenti Sadalia; Nisrul Irawati
International Journal of Educational Review, Law And Social Sciences (IJERLAS) Vol. 5 No. 4 (2025): July
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijerlas.v5i4.3459

Abstract

This study aims to analyze the influence of macroeconomic factors on the Composite Stock Price Index (IHSG) through the volume of stock transactions on the Indonesia Stock Exchange (IDX) during the period 2017–2023. The independent variables used in this study are the BI interest rate, the US dollar exchange rate, and inflation; transaction volume acts as an intervening variable, while the IHSG is the dependent variable. This study uses a quantitative method with a causal and explanatory approach. The analysis model used is the Error Correction Model (ECM) to identify short-term and long-term relationships between variables. The results of the study show that in the short term, inflation has a positive and significant effect on stock transaction volume, while the BI interest rate and exchange rate do not have a significant effect. In the long term, the BI interest rate and exchange rate have a significant effect on transaction volume. Meanwhile, on the IHSG, the BI interest rate and exchange rate have a significant effect in the long term, while transaction volume is only significant in the long term. The Sobel test shows that transaction volume significantly mediates the effect of the BI interest rate and exchange rate on the IHSG in the long term, but not in the short term. These findings underscore the importance of macroeconomic stability and market liquidity in influencing the performance of the Indonesian capital market. This study provides theoretical contributions to the development of literature on the role of macroeconomic variables in the capital market, as well as providing practical implications for investors, regulators, and issuers in formulating investment strategies and economic policies that support stock market growth.
ANALYSIS OF FACTORS INFLUENCING THE PERFORMANCE OF NATIONAL PRIVATE BANKING IN INDONESIA, MODERATED BY THE USE OF FINTECH Maretta Yuraska Sinulingga; Khaira Amalia Fachrudin; Nisrul Irawati
International Journal of Educational Review, Law And Social Sciences (IJERLAS) Vol. 5 No. 4 (2025): July
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijerlas.v5i4.3618

Abstract

The purpose of this study is to analyze the "Analysis of Factors Influencing the Performance of National Private Banking in Indonesia, Moderated by the Use of Fintech." The data collected in this study are secondary data, gathered from the financial reports of national private banks for the 2020-2024 period. The sample in this study is 140. This study uses quantitative data. The data analysis technique used panel data regression analysis with the help of eViews software. The test results show that the Loan to Deposit Ratio has a significant effect on Return on Assets at National Private Banks in Indonesia. Operating Expenses/Operating Income has a significant effect on Return on Assets at National Private Banks in Indonesia. Non-performing Loans have a significant effect on Return on Assets at National Private Banks in Indonesia. The Loan to Deposit Ratio and Operating Expenses/Operating Income have a significant effect on Return on Assets, with fintech as a moderating variable. Non-performing Loans do not have a significant effect on Return on Assets, with fintech as a moderating variable at National Private Banks in Indonesia.
THE EFFECT OF TECHNICAL ASSET, FINANCIAL ASSET AND MACRO-ECONOMIC ON RETURN BITCOIN Muhammad Rizky Nasution; Isfenti Sadalia; Nisrul Irawati
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 3 No. 2 (2023): April
Publisher : CV. Radja Publika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijebas.v3i2.728

Abstract

This study uses research variables such as Trading Volume, Market Capitalization, S&P 500 Index, World Oil Price, Gold Price on Bitcoin Returns. The data source in this study is through internet media with the sites https://coinmarketcap.com/, https://finance.yahoo.com/, and other sites that support this research. The data used in this study are time series, and the target population for the data sample is 1,096 (3 years x 365) daily report data. The data were collected from January 1, 2020, to December 31, 2022, through the release of daily bitcoin transaction reports. Time series data analysis using Engel Granger's Error Correction Model is the method employed (ECM). The analysis tool used is the Econometric Views (Eviews) which is one of the computer econometric program. The results of this study where trading volume has a positive and insignificant effect on bitcoin returns. The impact of market capitalisation on bitcoin returns is both favorable and significant. Returns on bitcoin are positively and significantly impacted by S&P 500. The returns on bitcoin are negatively and insignificantly impacted by the price of world oil. Returns on bitcoin are positively and negligibly impacted by the gold price.
THE INFLUENCE OF CAPITAL ADEQUACY RATIO, NON PERFORMING LOAN, LOAN TO DEPOSIT RATIO, OPERATIONAL COSTS OF OPERATIONAL REVENUE AND CREDIT DISTRIBUTION ON RETURN ON ASSET WITH NET INTEREST MARGIN AS AN INTERVENING VARIABLE IN CONVENTIONAL RURAL BANKS Gialin Prihatna Putri br Sitepu; Nisrul Irawati; Fahmi Natigor Nasution
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 3 No. 3 (2023): June
Publisher : CV. Radja Publika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijebas.v3i3.928

Abstract

This study aims to determine the effect of Capital Adequacy Ratio, Non-Performing Loans, Loan to Deposit Ratio, Operational Costs, Operating Income and Credit Disbursement on Return on Assets with Net Interest Margin as an Intervening Variable at Conventional Rural Banks in Medan City for the 2017-2021 period. In this study using secondary data collection in the form of financial reports that have been collected and published relating to the object of research. The data analysis method used to solve the problems in this research is descriptive statistical method, classic assumption test, panel data regression analysis method and expanded with sobel test analysis to test mediating (intervening) variables. The results showed that the Capital Adequacy Ratio had a positive and significant effect on Net Interest Margin at Conventional Rural Banks in Medan City, Non-Performing Loans had no significant effect on Net Interest Margin at Conventional Rural Banks in Medan City, Loan to Deposit Ratio had a positive effect and significant to Net Interest Margin at Conventional Rural Banks in Medan City, Operating Costs Operating Income has a negative and significant effect on Net Interest Margin at Conventional Rural Banks in Medan City. Credit Distribution has a positive and significant effect on Net Interest Margin at Conventional Rural Banks in Medan City.
TECHNICAL ANALYSIS AS THE BASIS FOR DECISION MAKING IN STOCK INVESTMENT IN PT. BANK MESTIKA DHARMA.TBK IN THE INDONESIAN CAPITAL MARKET (DURING THE COVID PANDEMIC JANUARY 2020 - JUNE 2021) Tika Denisa Simanjuntak; Isfenti Sadalia; Nisrul Irawati
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 3 No. 5 (2023): October
Publisher : CV. Radja Publika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijebas.v3i5.1085

Abstract

This study uses a quantitative approach to making stock investment decisions using the Moving Average Convergence Divergence indicator and the Stochastic Oscillator indicator by recording sell signals and buy signals and then testing the effectiveness of buy signals and sell signals from the two indicators. This research will be analyzed using the investing.com chart analysis platform. Based on research that has been conducted by researchers, it can be concluded that: 1. From graphic analysis at PT Bank Mestika Dharma Tbk, the Stochastic Oscillator indicator provides a total of 65 signals consisting of 35 buy signals and 30 sell signals while the MACD indicator provides 19 signals consisting of 10 bell signals and 9 sell signals from. 2. The Stochastic Oscillator indicator provides a better level of accuracy with an accuracy rate of 68%, while the MACD indicator has an accuracy rate of 58%. 3. The Stochastic Oscillator indicator has proven to be superior for analyzing stocks with a sideways trend, as experienced by PT Bank Mestika Dharma Tbk during the current economic crisis.
Co-Authors Aslam Rayuda Chairul Muluk Edi Santana Putra Fahmi Natigor Nasution Gialin Prihatna Putri br Sitepu Isfenti Sadalia Januar Samuelson Gea Jona Sitepu Khaira Amalia Fachrudin Maretta Yuraska Sinulingga Marta KN Pasaribu Mayang Palupi Muhammad Rizky Nasution Mutiah Nasution Nico Gilbert Nathaniel Siagian Novian Paisal Sitompul Rahmad Zulhiansyah Simatupang SAFIRA Syahyunan Tika Denisa Simanjuntak Yoko Mashonia Panjaitan