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All Journal EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Business, Economics and Entrepreneurship Jurnal Minfo Polgan (JMP) SENTRI: Jurnal Riset Ilmiah IJTIMA': Jurnal Pengabdian Masyarakat
Arina Azwani
Universitas Satu
Aerospace Engineering Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Social Sciences Other

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PENGENALAN PASAR MODAL SEBAGAI IMPLEMENTASI EKONOMI PADA PELAJAR DI KOTA PONTIANAK Erwin Febriansyah; Arina Azwani; Hana Dhayan; Teddy Rianto L Gaol
JURNAL PENGABDIAN MASYARAKAT: IJTIMA' Vol. 1 No. 2 (2024): Oktober 2024
Publisher : UIR Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25299/ijtima.2024.19158

Abstract

Kegiatan pengabdian kepada masyarakat mengenai pengenalan pasar modal sebagai implementasi kegiatan ekonomi kepada para pelajar yaitu bentuk peningkatan literasi keuangan dari Kampus Satu University Pontianak dengan memberikan pemahaman dasar tentang pasar modal, investasi, dan manajemen keuangan kepada pelajar, sehingga mereka dapat membuat keputusan keuangan yang lebih bijaksana di masa depan. Dilaksanakan Pada Rabu, 28 Agustus 2024 yang berbentuk workshop pengenalan pasar modal kepada siswa/siswi SMKN 3 Pontianak. Hasil analisis menunjukkan bahwa kegiatan pengabdian tentang pengenalan pasar modal pada pelajar di Kota Pontianak memiliki dampak positif yang signifikan. Data kuantitatif menunjukkan peningkatan pengetahuan dan minat berinvestasi, sementara data kualitatif menggambarkan pengalaman belajar yang menarik dan interaksi aktif selama program. Secara keseluruhan, program ini tidak hanya berhasil meningkatkan literasi keuangan di kalangan pelajar, tetapi juga mendorong kesadaran sosial dan minat yang lebih besar dalam dunia investasi. Ini menjadi landasan yang kuat untuk pelaksanaan program-program serupa di masa mendatang.
The Role Of Oic Countries In The Development Of The Dinar Dirham As An Alternative To World Currency Erwin Febriansyah; Arina Azwani; Teddy Rianto L Gaol
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Vol 12 No 3 (2024): Juli
Publisher : UNIVED Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/ekombis.v12i3.6054

Abstract

Islamic Organization Cooperation has been doing it for a long time agreement Work The same economy trade . OIC has 57 member countries, one of which is Indonesia system mark swap floating free . Exchange rate is something matter important thing to do noticed by everyone government Because every movement appreciation and depreciation mark swap influence economy a country. Phenomenon weakening mark commodity the current dollar currency This become the strongest currency in the world becomes opportunity for Islamic countries to developing Dinars and Dirhams because own mark physical and value intrinsic ones are not changed from formerly . Stability level a country 's currency only can materialized If commodities and values eye the money No changed or not can affected by turmoil economy or geopolitics in the world. With use Vector Error Correction Model (VECM) approach for test possibility the role of OIC countries in application of Dinar Dirham as world alternative currencies . The result show response inflation to mark swap seen that mark always exchange​ is on the equilibrium line from period 1 to 10 though happen inflation in the period secondly , meaning Dinar and Dirham currencies are not can influenced by inflation.
Performance Evaluation of Mutual Funds in Indonesia: An Analysis of Risk-Adjusted and Market Timing Teddy Rianto L. Gaol; Nugroho J Setiadi; Arina Azwani; Erwin Febriansyah
Jurnal Minfo Polgan Vol. 14 No. 1 (2025): Artikel Penelitian
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/jmp.v14i1.15028

Abstract

This research investigates the performance of 38 Indonesian mutual funds, consisting of 21 fixed income funds and 17 equity funds, from August 2017 to May 2025. The evaluation employs various risk-adjusted performance measures, including the Sharpe ratio and Jensen’s alpha, as well as market timing analysis using the Treynor-Mazuy and Henriksson-Merton models. The results indicate that fixed income funds posted a higher average monthly return (0.34%) than both equity funds (0.08%) and the market index (0.30%). Notably, the risk-free rate (0.45%) surpassed the returns of all fund categories and the market. Performance analysis reveals that only 10 funds outperformed the market based on the Sharpe ratio, and just one fund recorded a statistically significant positive Jensen’s alpha. Similarly, market timing evaluation identified only one fund with a significant positive coefficient, suggesting effective market timing ability. These findings are consistent with the Efficient Market Hypothesis, implying that most Indonesian mutual funds are unable to consistently generate superior risk-adjusted returns or exhibit strong market timing skills. The study provides relevant insights for investors and fund managers regarding mutual fund selection and performance expectations in Indonesia. However, the research acknowledges limitations in sample size and scope, recommending that future studies include broader samples, longer observation periods, and additional explanatory variables to enrich the understanding of mutual fund performance in the Indonesian capital market.
Mengatasi Middle Income Trap (MIT) Menuju Indonesia Emas 2045 Arina Azwani; Ahmad Kurniadi
SENTRI: Jurnal Riset Ilmiah Vol. 5 No. 8 (2026): SENTRI : Jurnal Riset Ilmiah, Agustus 2026
Publisher : LPPM Institut Pendidikan Nusantara Global

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55681/sentri.v5i8.7026

Abstract

Penelitian ini bertujuan menganalisis pengaruh pendapatan per kapita dan Indeks Pembangunan Manusia (IPM) terhadap pertumbuhan ekonomi (GDP) Indonesia dalam upaya keluar dari Middle Income Trap (MIT) menuju Indonesia Emas 2045. Data time series tahun 1994 – 2024 diperoleh dari World Bank dan BPS, dianalisis menggunakan pendekatan Autoregressive Distributed Lag (ARDL). Hasil estimasi ARDL Bounds Testing mengonfirmasi adanya hubungan kointegrasi (jangka panjang) yang valid antara pertumbuhan ekonomi, pendapatan per kapita, dan IPM (F-statistik = 6,229, signifikan pada taraf 1%). Model Error Correction Model (ECM) menunjukkan bahwa guncangan pada pertumbuhan ekonomi Indonesia periode 1994–2024 terkoreksi sangat cepat menuju keseimbangan jangka panjangnya (koefisien ECT = −1,1655; signifikan pada taraf 1%). Dalam jangka pendek, perubahan IPM periode berjalan terbukti menjadi pendorong signifikan bagi pertumbuhan ekonomi, sementara pengaruh individual pendapatan per kapita dan IPM dalam jangka panjang tidak signifikan secara statistik akibat multikolinearitas yang kuat antarkeduanya (korelasi 0,967), meskipun kontribusi gabungan keduanya terhadap pertumbuhan ekonomi terbukti nyata melalui uji kointegrasi. Temuan ini mengindikasikan bahwa strategi keluar dari MIT perlu mengintegrasikan penguatan kualitas sumber daya manusia dan pemerataan pendapatan secara berkelanjutan, tidak hanya mengandalkan pertumbuhan ekonomi jangka pendek semata.
Analisis Valuasi PT PP London Sumatra Indonesia Tbk Menggunakan Metode Discounted Cash Flow, Dividend Discount Model, Dan Multipel Historis Teddy Rianto L. Gaol; Arina Azwani; Risma Carla Lydia Pascasia; Fennika Ayu Lestari; Sy. Ilham Zultami; Erwin Febriansyah
Business, Economics dan Entrepreneurship Vol 8 No 2 (2026): Business, Economics and Entrepreneurship
Publisher : Institut Shanti Bhuana, Program Studi Kewirausahaan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46229/bee.v8i2.1188

Abstract

This study estimates the intrinsic value of PT PP London Sumatra Indonesia Tbk (LSIP) shares using discounted cash flow (DCF), a dividend discount model (DDM), and historical multiples. The three-model approach is used because plantation earnings are exposed to commodity-price cycles, while LSIP holds substantial net cash and maintains a relatively conservative payout ratio. The data comprise consolidated financial statements for 2020–2025, 72 monthly observations of LSIP and Jakarta Composite Index prices, dividend data, and the yield on a one-year Indonesian government bond. The estimation produces an ordinary least squares (OLS) beta of 1.210 and a 12.95% cost of equity and weighted average cost of capital (WACC). To avoid treating the unusually high 2025 cash flow arising from a working-capital release as recurring, free cash flow to the firm (FCFF) is normalized at the 22.98% historical median margin. The estimated values per share are IDR3,308 under DCF, IDR672.70 under a constant-growth DDM, and IDR1,636 using historical price-to-book value (PBV) and price-to-earnings ratio (PER) multiples. The equal-weight estimate of IDR1,872.22 is 56.7% above the 2025 year-end price of IDR1,195. Differences across the models show that LSIP's value depends not only on cash-generating capacity but also on management's decision to distribute or productively reinvest retained cash.
Co-Authors Ahmad Kurniadi Febriansyah, Erwin Fennika Ayu Lestari Hana Dhayan Lydia Pascasia, Risma Carla Nugroho J Setiadi Sy. Ilham Zultami Teddy Rianto L. Gaol