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Exploring Climate Risk Effects on Financial Performance in Energy Sector Kesuma, Muhammad Ramadhani; Henrika S., Margareth; Ariswati, Lusiana Desy; Widaryo, Chandika Mahendra; Irianto, Ellen D. Oktanti; Aini, Rohana Nur
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 2 (2025): Mei - Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i2.483

Abstract

This study examines the impact of the Climate Change Performance Index (CCPI) on the financial performance of energy firms in Indonesia and Malaysia, with capital structure as a moderating factor, using panel data analysis. Data from 62 publicly listed energy firms over 2019–2023 were analyzed through fixed effects, random effects, and diagnostic tests (Chow, Hausman, and Lagrange Multiplier). Results reveal that CCPI does not significantly affect return on assets (ROA) (coefficient = -0.0065, p = 0.837), and capital structure shows no moderating effect (p = 0.806). Firm size exhibits a near-significant impact (p = 0.058) in the random effects model. Multicollinearity and time-invariant variables limit cross-country and sectoral analyses. Findings underscore the ASEAN context, where evolving climate regulations temper financial impacts, with firm size emerging as a critical resilience factor. Future research with broader datasets is recommended to address methodological constraints.
Time Pressure’s Impact on Jam Koma and Academic Stress in Undergraduate Students Aini, Rohana Nur; Kesuma, Muhammad Ramadhani; Ariswati, Lusiana Desy; Henrika S., Margareth; Widaryo, Chandika Mahendra; Irianto, Ellen D. Oktanti
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 2 (2025): Mei - Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i2.824

Abstract

This research explores the effects of time pressure on cognitive fatigue, known locally as jam koma, and academic stress among undergraduate students in Samarinda, Indonesia, incorporating age and gender as control variables. Utilizing a cross-sectional survey approach, data were gathered from 150 undergraduate students through validated instruments assessing perceived time pressure, cognitive fatigue, and academic stress levels. Linear regression analyses demonstrated that time pressure exerts a significant influence on both cognitive fatigue and academic stress, whereas age and gender showed negligible impacts. These results highlight the critical role of time pressure in undermining student well-being, emphasizing the need for institutional measures such as time management workshops and mental health support programs. The culturally distinctive jam koma phenomenon offers fresh perspectives on cognitive exhaustion within Indonesia’s academic landscape, enriching global discussions on student mental health. By addressing these findings, universities can foster more supportive academic frameworks, mitigating the adverse effects of time pressure. This study bridges local and international scholarship, advocating for culturally informed interventions to enhance student resilience and productivity.
Pengaruh Makroekonomi terhadap Kinerja Perusahaan Energi Kesuma, Muhammad Ramadhani; Widaryo, Chandika Mahendra; Irianto, Ellen D. Oktanti; Aini, Rohana Nur
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 1 (2025): Februari - April
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i1.435

Abstract

Penelitian ini mengevaluasi pengaruh faktor makroekonomi, yaitu pertumbuhan Produk Domestik Bruto (PDB) dan suku bunga, terhadap kinerja keuangan perusahaan energi di ASEAN, diukur melalui Return on Equity (ROE), selama periode 2019–2023. Menggunakan regresi data panel pada 114 perusahaan energi yang terdaftar di bursa saham Indonesia, Malaysia, Singapura, Filipina, dan Thailand, analisis ini menerapkan model efek acak berdasarkan uji Hausman. Hasil menunjukkan bahwa pertumbuhan PDB dan suku bunga tidak signifikan memengaruhi ROE, dengan R² sebesar 0,0032, mengindikasikan dominasi faktor spesifik perusahaan. Volatilitas ekonomi akibat pandemi, heterogenitas subsektor energi, dan faktor internal perusahaan melemahkan pengaruh makroekonomi. Penelitian ini merekomendasikan strategi internal perusahaan dan kebijakan pendukung ketahanan finansial. Temuan ini memperkaya literatur ekonomi energi dan memberikan wawasan praktis bagi manajer dan pembuat kebijakan di sektor energi ASEAN.
Analysis of the Influence of Digital Transformation on the Financial Performance of Retail Companies in Indonesia Angriani Zn, Sefrimel; Nursafitri, Sintia; Juwita, Tia Permata; Irianto, Ellen D. Oktanti
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 2 (2025): Mei - Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i2.1640

Abstract

Digital transformation has become a key factor in the evolution of the retail industry in Indonesia, especially with the increasing adoption of technology in various business operations. This study aims to analyze the impact of digital transformation on the financial performance of retail companies in Indonesia. Using a quantitative approach, this research examines secondary data from annual reports and financial statements of 16 retail companies listed on the Indonesia Stock Exchange (BEI) for the period 2021-2023. Digital transformation is measured based on the ratio of digital intangible assets to total intangible assets, while financial performance is measured using Return on Assets (ROA). The results of a simple regression analysis indicate that digitaltransformation has a significant negative impact on ROA, with each increase in digital transformation associated with a decrease in ROA by 1.381. These findings suggest that poorly managed digital transformation implementation can hinder acompany's financial performance. According to the Resource-Based View (RBV) theory, companies with sufficient resources and capabilities can optimize the benefits of digital transformation, while those with limited resources may experience a decline in financial performance. This study provides insights for industry players on the importance of an effective digital strategy in enhancing competitiveness and operational efficiency. Therefore, retail companies need to conduct thorough planning, strengthen internal capabilities, and regularly evaluate the implementation of digital transformation to minimize its negative impact on profitability.
Dinamika Likuiditas dan Kinerja Perusahaan: Wawasan dari Sektor Teknologi ASEAN: Liquidity Dynamics and Firm Performance: Insights from the ASEAN's Technology Sector Henrika, Margareth; Kesuma, Muhammad Ramadhani; Ariswati, Lusiana Desy; Widaryo, Chandika Mahendra; Irianto, Ellen D. Oktanti
Economic and Education Journal (Ecoducation) Vol. 7 No. 2 (2025): Economic and Education Journal (Ecoducation)
Publisher : Pendidikan Ekonomi, Universitas Insan Budi Utomo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33503/ecoducation.v7i2.1672

Abstract

Penelitian ini mengevaluasi pengaruh rasio likuiditas, yaitu Cash Ratio, Current Ratio, dan Quick Ratio, terhadap kinerja perusahaan yang diukur melalui Net Income dan Earning Per Share (EPS) di sektor teknologi informasi di lima negara ASEAN (Indonesia, Malaysia, Singapura, Thailand, dan Filipina) selama periode 2019-2023. Dengan menggunakan pendekatan regresi data panel, studi ini menganalisis 655 observasi dari 131 perusahaan publik yang terdaftar, dengan data bersumber dari Wall Street Journal (WSJ). Model efek tetap dan efek acak diuji, dengan uji Hausman menentukan model yang paling sesuai. Hasil penelitian menunjukkan bahwa Cash Ratio dan Firm Size memiliki dampak positif terhadap Net Income, sedangkan Quick Ratio berdampak negatif.  Hanya Firm Size yang secara signifikan memengaruhi EPS, dengan rasio likuiditas tidak menunjukkan pengaruh yang berarti. Temuan ini menggarisbawahi pentingnya pengelolaan likuiditas yang seimbang di sektor teknologi, terutama dalam menghadapi potensi kebangkitan kembali kasus Covid-19 di ASEAN pada tahun 2025 yang dapat mengganggu stabilitas keuangan. Penelitian ini memperkaya literatur dengan mengatasi kesenjangan dalam analisis sektor teknologi di ASEAN.
Sosialisasi Dampak Sampah Terhadap Kesehatan dan Demonstrasi Pembuatan Spray Anti Nyamuk Irianto, Ellen D. Oktanti; Jumi Auliya; Masyadit Aditia; Nanda Putri Ramadhani; Noor Cahaya Ningrum; Muhammad Divka Akmal Nugroho; Dinda Eka Safira; Nasywa Salsabila; Nurul Aisyah; Rista Maulidawati; Yonggi Wijaya
Jurnal Ragam Pengabdian Vol. 2 No. 3 (2025): Desember (in progress)
Publisher : Lembaga Teewan Journal Solutions

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62710/5qhtam56

Abstract

Waste management remains one of the major challenges affecting public health in many developing regions, including Samboja Kuala Village, Kutai Kartanegara District. Improperly managed household waste often serves as a breeding ground for Aedes aegypti, the vector of dengue hemorrhagic fever (DHF), which continues to cause high morbidity in Indonesia. This community service program aimed to increase public awareness of the health impacts of waste and to provide practical skills in producing a natural mosquito repellent spray using lemongrass (Cymbopogon citratus) and orange peels. The program was carried out through several stages, including preparation, socialization using lectures and educational media (leaflets and posters), demonstration of the production process, and mentoring. Thirty community participants and ten KKN students were involved in the activity. The evaluation employed pre-test and post-test questionnaires to measure knowledge improvement. The results indicated a significant increase in participants’ average scores, from 22.73 in the pre-test to 29.36 in the post-test. Furthermore, participants successfully produced a natural mosquito repellent spray that was safe, environmentally friendly, and easy to apply. These outcomes demonstrate that combining education with hands-on practice is effective in improving knowledge and skills while promoting environmentally friendly solutions that utilize organic waste. The program is expected to raise collective awareness of environmental health and has the potential to be sustained as a local innovation with economic value.
Efisiensi Operasional Perusahaan Properti Indonesia: Peran Likuiditas dan Struktur Modal Muhammad Ramadhani Kesuma; Aini, Rohana Nur; Irianto, Ellen D. Oktanti; Widaryo, Chandika Mahendra
Jurnal Bersama Ilmu Ekonomi (EKONOM) Vol. 1 No. 3 (2025): Agustus 2025
Publisher : Yayasan Literasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55123/ekonom.v1i3.221

Abstract

This study aims to examine the impact of liquidity and capital structure on the operational efficiency of property and real estate companies in Indonesia from 2019 to 2023, amidst economic challenges posed by the pandemic. A quantitative approach was employed, utilizing panel data from annual financial reports of companies listed on the Indonesia Stock Exchange, analyzed through random-effects panel regression to assess variable relationships. The findings reveal that liquidity, measured by cash, current, and quick ratios, and capital structure, measured by the debt-to-equity ratio, do not significantly influence operational efficiency, measured by earnings before interest and taxes. This outcome may be attributed to heterogeneity among companies and the pandemic’s disruption of cash flows. Nevertheless, companies with adequate liquidity demonstrated greater resilience during the crisis. The study concludes that optimal liquidity and capital structure management remain crucial for supporting operational efficiency, recommending diversification of funding sources and adoption of digital technologies to enhance competitiveness in the dynamic property market.
Financial literacy and green finance: catalysts for green economic recovery in smes Kesuma, Muhammad Ramadhani; Irianto, Ellen D. Oktanti; Widaryo, Chandika Mahendra; Henrika, Margareth; Ariswati, Lusiana Desy; Aini, Rohana Nur
Enrichment : Journal of Management Vol. 15 No. 4 (2025): October: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v15i4.2377

Abstract

This study examined the interplay of financial literacy and access to green finance in driving green economic recovery among small and medium enterprises in East Kalimantan, Indonesia, where resource dependence exacerbates environmental vulnerabilities. The core problem addressed was the sluggish adoption of sustainable business practices by these enterprises, hampered by insufficient financial acumen and constrained funding for eco-friendly initiatives. A quantitative survey approach was employed, gathering data from 150 enterprises across agriculture, trade, and services sectors through structured questionnaires. Partial least squares structural equation modeling analyzed the relationships, revealing that financial literacy exerted a strong positive effect on green practice adoption, while green finance access provided both direct and mediated support. Adoption of green practices fully mediated financial literacy's impact on recovery and partially mediated green finance's influence, collectively accounting for over half of the variance in economic and environmental outcomes. These findings underscored the synergistic potential of education and funding in bolstering resilience. Policymakers should prioritize integrated training and streamlined financing to accelerate sustainable transitions, fostering long-term viability in similar contexts.
Exploring Academic Burnout: The Interplay of Time Pressure, Poor Sleep Habits, and Jam Koma Among Undergraduate Students in East Kalimantan Rohana Nur Aini; Muhammad Ramadhani Kesuma; Irianto, Ellen D. Oktanti; Henrika, Margareth; Ariswati, Lusiana Desy
SOSMANIORA: Jurnal Ilmu Sosial dan Humaniora Vol. 4 No. 3 (2025): September 2025
Publisher : Yayasan Literasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55123/sosmaniora.v4i3.5683

Abstract

This study investigates the interplay of time pressure, poor sleep habits, and jam koma as key predictors of academic burnout among university students in East Kalimantan. Utilizing a quantitative cross-sectional design, the research investigates how time pressure and poor sleep habits contribute to burnout, with cognitive fatigue locally termed “jam koma”, acting as a mediator. Data were collected from undergraduate students using instruments, including scales for time pressure, sleep quality, jam koma, and burnout, and analyzed through Structural Equation Modeling-Partial Least Squares. The findings reveal that time pressure and inadequate sleep significantly drive burnout, both directly and indirectly through jam koma, highlighting the mediating role of mental exhaustion in amplifying academic stress. These results extend the JDR model by incorporating sleep as a critical physiological resource, offering a nuanced understanding of burnout dynamics in collectivist academic settings. This study concludes the urgent need for culturally tailored interventions, such as time management training, sleep hygiene programs, and counseling services sensitive to collectivist values, to mitigate burnout and enhance student well-being. By providing localized insights into burnout mechanisms, this research informs evidence-based strategies for fostering resilient academic environments in East Kalimantan and similar collectivist contexts, contributing to global efforts to support student mental health.
Does financial literacy drive SME success in resource-rich regions? Ariswati, Lusiana Desy; Kesuma, Muhammad Ramadhani; Aini, Rohana Nur; Irianto, Ellen D. Oktanti; Widaryo, Chandika Mahendra; Henrika, Margareth
Priviet Social Sciences Journal Vol. 5 No. 11 (2025): November 2025
Publisher : Privietlab

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55942/pssj.v5i11.714

Abstract

This study investigates the relationships among financial literacy, product innovation, risk management, and financial performance in small and medium-sized enterprises (SMEs) located in East Kalimantan, a region in Indonesia characterized by its resource abundance. While prior studies underscore the importance of financial literacy and innovation for SME success, there is limited research focusing on non-urban, commodity-reliant settings. Using a quantitative methodology, this study employs Partial Least Squares Structural Equation Modeling to analyze data gathered from 200 SME owners in non-extractive industries through a structured survey. This study explores whether financial literacy and product innovation directly affect financial performance and whether risk management mediates these dynamics. The findings reveal that financial literacy has a significant positive effect on financial performance, whereas product innovation strengthens risk management but does not directly influence financial outcomes. Additionally, risk management does not mediate these relationships, indicating potential contextual constraints in resource-limited environments. These insights advance the understanding of SME operations in non-urban, resource-dependent regions and highlight the need for customized financial education and innovation. This study provides actionable recommendations for policymakers to enhance SME resilience through targeted strategies, addressing a key gap in the literature on economies tied to natural resources.