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All Journal Jurnal Akuntansi Jurnal Ilmiah Manajemen Kesatuan BUDGETING : Journal of Business, Management and Accounting JOURNAL SCIENTIFIC OF MANDALIKA (JSM) Jurnal Pendidikan Indonesia (Japendi) Journal of Mandalika Literature
Nicko Albart
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Humanities Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Systematic Literature Review: Evaluation of Financial Performance Before and After Mergers and Acquisitions in the Banking Sector Endah Kusumastuti; Nicko Albart; Nurul Huda
Journal of Mandalika Literature Vol. 6 No. 2 (2025)
Publisher : Institut Penelitian dan Pengembangan Mandalika (IP2MI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36312/jml.v6i2.4192

Abstract

Mergers and Acquisitions (M&A) are an effective strategy that can be carried out by companies including banks to increase capital, expand business and create financial stability. This research evaluates the financial performance of banks that did mergers and acquisitions. This research uses a Systematic Literature Review to obtain results by collecting various research journals related to M&A using a published search system that focuses on Google Scholar, Crossref, Semantic and Science Direct as sources of journals. The results of this research show that the impact of M&A on financial performance in the banking sector is variative. The result of this study is M&A has significant impact to financial performance commercial banks but not significant for public banks. M&A can have a significant impact if done voluntarily. On the other hand, M&A can also have an insignificant impact if the M&A is carried out with aim only for saving the company target and not focused on increasing the company's value.
Analisis Dampak Compound Interest pada Investasi Jangka Panjang Studi Empiris pada Reksa Dana Saham Nathasya, Tiara; Nicko Albart
BUDGETING : Journal of Business, Management and Accounting Vol. 6 No. 2 (2025): BUDGETING : Journal of Business, Management and Accounting
Publisher : Institut Penelitian Matematika Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/budgeting.v6i2.13686

Abstract

This study analyzes the impact of compound interest on long-term investments, focusing on equity funds. Using quantitative simulations, it evaluates how consistent monthly investments grow over time through the effect of compounding interest. Key assumptions include a fixed monthly investment of IDR 1,000,000 and an average annual return of 10%. The results demonstrate exponential investment growth, with significant increases in final values over 10, 20, and 30 years. For instance, after 30 years, the total investment grows to more than six times the principal amount, underscoring the power of compounding interest. The findings highlight the importance of starting investments early and maintaining discipline, particularly in long-term financial planning. This study provides practical recommendations for novice investors to leverage equity mutual funds as a high-return instrument, despite associated risks, to maximize long-term wealth accumulation. Limitations include the exclusion of market volatility, inflation, and other costs, which could influence real-world outcomes.   keywords: Compounding Interest, Equity Funds, Long-Term Investment
System Literature Review: Analysis Of The Influence Of Market Anomaly And Financial Behaviour On Abnormal Returns In The Efficient Market Hypothesis Siti Aminah; Nurul Huda; Nicko Albart
Journal Scientific of Mandalika (JSM) e-ISSN 2745-5955 | p-ISSN 2809-0543 Vol. 6 No. 9 (2025)
Publisher : Institut Penelitian dan Pengembangan Mandalika Indonesia (IP2MI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36312/10.36312/vol6iss9pp3455-3474

Abstract

The capital market is one of the important indicators in a country's economy, which reflects the dynamics of the relationship between investors, companies, and market conditions. In the Efficient Market Hypothesis (EMH) theory, stock prices are said to reflect all available information efficiently. Thus, there is no opportunity for investors to consistently generate abnormal returns, namely profits that exceed market expectations based on the risks taken. However, in practice, various market anomalies and financial behavior often show deviations from the basic assumptions of the EMH. This study aims to analyze the effect of various market anomalies such as the January Effect, Ramadhan Effect, Election Days Effect, Pandemic Covid Effect, and financial behavior on abnormal returns in the Efficient Market Hypothesis using the system literature review research method. The results of the study show that the January Effect, Ramadhan Effect, Election Days Effect, Pandemic Covid Effect have a negative effect on abnormal returns in the Efficient Market Hypothesis. Financial behavior such as herding behavior shows that there is no herding behavior in the Indonesian capital market. These results indicate that investors are rational in making investment decisions because they have good access to relevant information about stock price movements in the market.
Earnings Management on New Fraud Diamond and Financial Statement Fraud in Indonesian Infrastructure Firms Nicko Albart; Marsudi, Almatius Setya
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 4 (2025): JIMKES Edisi Juli 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i4.3451

Abstract

Financial statement fraud in Indonesia’s infrastructure sector poses significant risks due to complex accounting practices. The New Fraud Diamond framework offers a robust approach to detecting fraud, but its application in this context, moderated by earnings management. This study investigates the direct effects of financial stability, financial targets, monitoring effectiveness, earnings growth, and change in directors on financial statement fraud, and examines earnings management’s moderating role. Using panel data regression and Moderated Regression Analysis, we analyzed 90 firm-year observations from 15 IDX-listed infrastructure firms (2018–2023). The Beneish M-Score measured fraud, while proxies like financial stability and Return on Assets captured independent variables. Financial stability and earnings growth significantly increase fraud risk (p < 0.050), while monitoring effectiveness unexpectedly worsens it. Earnings management strengthens these relationships for stability and growth. The New Fraud Diamond model, enhanced by Moderated Regression Analysis, effectively detects fraud in Indonesian infrastructure firms. Strengthened governance is needed to address monitoring weaknesses. Future research should explore additional fraud predictors.
Managerial Ability And Earnings Management: Moderating Role Of Risk-Taking Behavior Sulhendri; Simamora, Alex Johanes; Nicko Albart; Sri Adella Fitri; Listiana Sri Mulatsih
Jurnal Akuntansi Vol. 28 No. 2 (2024): May 2024
Publisher : Fakultas Ekonomi dan Bisnis Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ja.v28i2.2139

Abstract

Examining how risk-taking behaviour affects managerial skills and earnings management is the goal of this study. The study's sample consists of 846 manufacturing companies listed on the Indonesian Stock Exchange between 2008 and 2018. Data envelopment analysis is a proxy for managerial skill. Accruals and actual earnings management are two aspects of earnings management. The firm fixed-effect regression is used in data analysis. The influence of managerial skills on earnings management is mitigated by risk-taking behaviour. Capable managers are more likely to use their propensity for risk-taking to manipulate earnings. Capable managers respond to earnings volatility resulting from risk-taking by implementing earnings management strategies. This study closes the gap left by earlier research and offers fresh proof of risk-taking behaviour that helps identify situations where managers use their expertise to control profits.
Systematic Literature Review: Pengaruh CAR, LDR, NPL, Dan BOPO Terhadap ROA Bank Yang Terdaftar Pada Bursa Efek Indonesia Tahun 2014 -2024 Lukman Al Hakim; Ilham Daylami; Nicko Albart
Jurnal Pendidikan Indonesia Vol. 5 No. 11 (2024): Jurnal Pendidikan Indonesia
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/japendi.v5i11.5942

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Capital Adequacy Ratio (CAR), Non-Performing Loans (NPL), Loan to Deposit Ratio (LDR), dan Beban Operasional terhadap Pendapatan Operasional (BOPO) terhadap Return on Assets (ROA) bank yang terdaftar di Bursa Efek Indonesia (BEI) untuk periode 2014-2024. Dengan menggunakan pendekatan Systematic Literature Review (SLR) berdasarkan kerangka PRISMA 2020, penelitian ini meninjau artikel-artikel yang relevan untuk mengeksplorasi pengaruh rasio keuangan tersebut terhadap profitabilitas bank. Hasil penelitian menunjukkan bahwa NPL dan BOPO memiliki pengaruh negatif signifikan terhadap ROA, yang menekankan pentingnya manajemen pengelolaan kredit dan efisiensi operasional dalam menjaga profitabilitas. Sebaliknya, CAR dan LDR tidak menunjukkan pengaruh signifikan yang konsisten terhadap ROA, yang mengindikasikan bahwa permodalan yang kuat dan likuiditas tinggi tidak selalu berkontribusi langsung terhadap peningkatan profitabilitas. Penelitian ini menekankan pentingnya pengelolaan kredit yang tepat dan peningkatan efisiensi operasional untuk meningkatkan kinerja keuangan. Implikasi praktis mencakup perlunya kebijakan perbankan yang berfokus pada efisiensi operasional dan mitigasi pengelolaan risiko yang baik. Temuan ini memberikan kontribusi signifikan bagi sektor perbankan dan literatur akademis mengenai kinerja keuangan bank di Indonesia, serta memberikan wawasan mengenai bagaimana rasio keuangan yang berbeda mempengaruhi profitabilitas bank dalam berbagai kondisi ekonomi.
Co-Authors Alex Johanes Simamora Endah Kusumastuti Ilham Daylami Listiana Sri Mulatsih Lukman Al Hakim Marsudi, Almatius Setya Nathasya, Tiara Nia Maryana Nurul huda SITI AMINAH Sulhendri