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Pengaruh Market Timing dan Stock Selection Terhadap Kinerja Reksa Dana Saham Ariswati, Lusiana Desy; Henrika, Margareth; Kesuma, Muhammad Ramadhani
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.v4i1.401

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh kemampuan market timing dan stock selection terhadap kinerja reksa dana saham di Indonesia selama pandemi COVID-19. Menggunakan model Treynor-Mazuy unconditional, penelitian ini menguji dua faktor utama yang memengaruhi kinerja reksa dana saham: market timing (kemampuan untuk memilih waktu yang tepat untuk membeli atau menjual saham) dan stock selection (kemampuan untuk memilih saham yang menguntungkan). Data yang digunakan mencakup 55 produk reksa dana saham dengan AUM lebih dari 500 miliar rupiah selama periode Pandemi Covid-19. Hasil penelitian menunjukkan bahwa kemampuan market timing dan stock selection memiliki pengaruh signifikan terhadap kinerja reksa dana saham. Dalam studi ini, manajer investasi reksa dana lebih banyak memiliki kemampuan stock selection daripada kemampuan market timingnya  Hal ini pun mengindikasikan bahwa dalam kondisi pasar yang penuh ketidakpastian, seperti pandemi COVID-19, manajer investasi mampu memilih saham yang tepat cenderung menghasilkan kinerja yang lebih baik. Penelitian ini berkontribusi pada literatur mengenai pengelolaan reksa dana, khususnya dalam konteks pasar yang sangat volatile akibat pandemi. Implikasi praktisnya menunjukkan bahwa manajer investasi sebaiknya lebih memprioritaskan stock selection ketimbang market timing dalam periode ketidakpastian ekonomi.
Analisis Faktor-Faktor yang Menyebabkan Turunnya Minat Beli Filani, Libran; Ariswati, Lusiana Desy
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.v4i1.434

Abstract

Penurunan minat beli di swalayan lokal merupakan isu yang menarik untuk diteliti, terutama seiring dengan perubahan cepat dalam perilaku konsumen di era digital. Penelitian ini bertujuan untuk menggali lebih dalam faktor-faktor yang mempengaruhi penurunan minat beli di ABC Swalayan Purbalingga, dengan fokus pada kualitas pelayanan, perkembangan e-commerce, dan relevansi promosi yang diterapkan. Hasil penelitian menunjukkan bahwa ketidakpuasan terhadap pelayanan dan kenyamanan toko, serta promosi yang tidak cukup menarik, memiliki dampak besar terhadap keputusan konsumen untuk berbelanja. Temuan ini mengarah pada pentingnya perbaikan di berbagai aspek, seperti meningkatkan kualitas pelayanan, menciptakan kenyamanan yang lebih baik, dan merancang promosi yang lebih sesuai dengan harapan konsumen. Selain itu, mengikuti perkembangan e-commerce dapat menjadi salah satu langkah penting untuk menarik minat beli konsumen di ABC Swalayan Purbalingga. Penelitian ini tidak hanya memberikan pemahaman lebih dalam tentang faktor-faktor yang mempengaruhi keputusan pembelian di swalayan lokal, tetapi juga memberikan rekomendasi praktis yang dapat diambil oleh pengelola swalayan untuk meningkatkan daya tarik dan kepuasan konsumen.
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.
OPTIMALISASI PEMASARAN DIGITAL UMKM MELALUI STRATEGI MEDIA SOSIAL INTERAKTIF Ariswati, Lusiana Desy; Azzahra, Aji Sophia; Nabila, Selvi Intan; Pratiwi, Wanda Aulia; Anggriyani, Windi
Perwira Journal of Community Development Vol 5 No 2 (2025)
Publisher : Unperba Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54199/pjcd.v5i2.498

Abstract

Usaha Mikro, Kecil, dan Menengah (UMKM) menghadapi tantangan dalam mengadopsi strategi pemasaran digital yang efektif, terutama dalam meningkatkan visibilitas dan keterlibatan pelanggan. Kegiatan ini bertujuan untuk mengoptimalkan pemasaran digital UMKM melalui strategi berbasis media sosial dengan studi kasus pada Kedai Yumyum, sebuah bisnis kuliner di Samarinda. Kegiatan dilakukan dengan menggunakan pendekatan kualitatif-deskriptif melalui metode partisipatif dalam bentuk pengabdian masyarakat. Implementasi dilaksanakan dalam beberapa tahap, termasuk analisis awal media sosial, perancangan konten visual, serta penerapan strategi interaktif untuk meningkatkan keterlibatan pelanggan. Data dikumpulkan melalui analitik media sosial dan survei pelanggan, kemudian dianalisis secara deskriptif-kualitatif. Hasilnya menunjukkan terjadi peningkatan jumlah pengikut (+76%), engagement rate (+176%), dan jumlah pesanan (+85,7%) setelah dilakukan implementasi strategi pemasaran digital. Desain visual yang lebih profesional serta interaksi pelanggan yang lebih aktif terbukti meningkatkan daya tarik bisnis. Selain itu, penggunaan kartu ucapan dan kartu terima kasih berkontribusi dalam membangun loyalitas pelanggan. Temuan ini menegaskan pentingnya strategi pemasaran berbasis media sosial bagi UMKM dalam meningkatkan daya saing dan pertumbuhan bisnis. Kegiatan lebih lanjut disarankan untuk mengeksplorasi dampak jangka panjang strategi pemasaran digital serta penerapannya dalam sektor industri lain.
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.
Menyeimbangkan Kerja dan Studi: Kunci Kepuasan Hidup Mahasiswa Paruh Waktu di Samarinda: Balancing Work and Study: The Key to Life Satisfaction for Part-Time Students in Samarinda Aini, Rohana Nur; Kesuma, Muhammad Ramadhani; Irianto, Ellen D Oktanti; Ariswati, Lusiana Desy; Henrika, Margareth
Economic and Education Journal (Ecoducation) Vol. 7 No. 3 (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.v7i3.2056

Abstract

Penelitian ini mengkaji pengaruh keseimbangan kehidupan-kerja dan kinerja kerja terhadap kepuasan hidup pada mahasiswa paruh waktu di Samarinda, Indonesia. Dengan pendekatan kuantitatif, data dikumpulkan dari 166 mahasiswa menggunakan kuesioner berskala Likert yang mengukur keseimbangan kehidupan-kerja (X1), kinerja kerja (X2), dan kepuasan hidup (Y). Analisis statistik meliputi statistik deskriptif, uji validitas dan reliabilitas, serta regresi linier berganda. Hasil menunjukkan bahwa keseimbangan kehidupan-kerja (β = 0.384, p < 0.001) dan kinerja kerja (β = 0.214, p = 0.006) secara signifikan memprediksi kepuasan hidup, dengan keseimbangan kehidupan-kerja memiliki pengaruh lebih kuat. Model regresi menjelaskan 27,4% variansi kepuasan hidup (R² = 0.274). Temuan ini menegaskan peran penting keseimbangan kehidupan-kerja dalam meningkatkan kesejahteraan mahasiswa paruh waktu, terutama dalam mengelola peran ganda. Penelitian ini berkontribusi pada literatur dengan menyoroti populasi yang jarang diteliti dalam konteks negara berkembang, memberikan wawasan untuk kebijakan pendukung institusional. Implikasinya mencakup perlunya jadwal akademik fleksibel dan layanan konseling untuk mendukung kesejahteraan mahasiswa.
Macroeconomic Volatility and ETF Resilience During an Economic Recession Transition Ariswati, Lusiana Desy; Filani, Libran
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 4 (2026): November - January
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i4.5293

Abstract

This study examines the influence of key macroeconomic variables: interest rates, inflation, and gross domestic product (GDP), on the performance of exchange-traded funds (ETFs) in Indonesia from 2019 to 2022, spanning pre- and post-COVID-19 periods. Employing a quantitative econometric approach with time-series data and multiple linear regression analysis in Stata 17, the research tests hypotheses regarding these relationships using the Sharpe ratio as a risk-adjusted performance metric. Descriptive statistics reveal stable interest rates (average 4.35%) and inflation (2.68%), contrasted by high GDP volatility (standard deviation 3.003). Regression results indicate a positive but insignificant effect of interest rates (β = 0.101, p = 0.234), a significant positive impact of inflation (β = 0.170, p = 0.029), and an insignificant negative effect of GDP (β = -0.023, p = 0.377). These findings challenge conventional expectations, highlighting inflation's role in signaling moderate economic expansion that bolsters ETF returns in emerging markets during recovery phases. Notably, this positive inflation effect persists in broader contexts, as seen in Indonesia's sustained growth trajectory post-2022, where controlled inflation around 2.3% in 2025 complemented stable BI rates at 4.75% to support ETF resilience amid ongoing global pressures. The study addresses literature gaps by providing empirical evidence from Indonesia's transitional context, offering implications for policy and investment strategies amid global uncertainties, including recommendations for regulators to leverage moderate inflation for market stabilization.
A Bibliometric Analysis of Financial Literacy and Financial Planning Research Korip, Zahwa Muslimatul; Assyifa, Adzra Rania; Mantika, Syifa Unada; Kesuma, Muhammad Ramadhani; Ariswati, Lusiana Desy
Ekopedia: Jurnal Ilmiah Ekonomi Vol. 1 No. 4 (2025): OKTOBER-DESEMBER
Publisher : Indo Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63822/31gje388

Abstract

This study presents a comprehensive bibliometric analysis of global research on financial literacy and financial planning published between 2000 and 2024. Using 452 Scopus-indexed documents, the study examines publication trends, journal distribution, and the conceptual structure of the field through keyword co-occurrence analysis using VOSviewer. The findings show a significant growth in research output, particularly after 2017, illustrating the increasing academic relevance of financial capability, financial behavior, and long-term financial well-being. The journal analysis identifies several influential sources, with the Journal of Financial Counseling and Planning emerging as the most productive outlet. Keyword mapping reveals six major thematic clusters that highlight core topics such as financial literacy, financial education, financial behavior, demographic and gender differences, decision-making, investment behavior, retirement planning, insurance, and behavioral biases. These clusters demonstrate the interdisciplinary development of the field, integrating psychological, demographic, and socio-economic dimensions. Overall, this study provides an updated conceptual landscape of financial literacy and financial planning research and offers valuable insights for researchers, educators, and policymakers. The results also underline the need for more holistic and context-specific financial education and policy initiatives, particularly in developing economies where financial literacy levels remain comparatively low.