Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
P-Index
This Author published in this journals
All Journal JURNAL USM LAW REVIEW International Journal of Application on Economics and Business
Mardjono, Amerta
Unknown Affiliation
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
CEO BIAS, MORAL HAZARD AND ADVERSE SELECTION: A LITERATURE REVIEW ON RISK DYNAMICS IN DIGITAL BANKING IN INDONESIA, WITH A PITCHING RESEARCH APPROACH Mardjono, Amerta; Maupa, Haris; Setyawan, Ignatius Roni
International Journal of Application on Economics and Business Vol. 3 No. 3 (2025): Agustus 2025
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v3i3.1483-1494

Abstract

This paper investigates the impact of CEO bias, specifically overconfidence, on the financial sustainability of digital banks and the relationship between these risks. To organize prospective assessment into CEO decision-making within the digital banking industry, the evaluation employs the pitching research methodology (Faff, 2015 and 2024).This study compares and contrasts an array of existing theories and prior academic findings published between 1970 and 2024, categorized into key components such as CEO bias, moral hazard, adverse selection, and fintech solutions, and how each of these interacts with financial sustainability and governance in digital banking. This study indicates that CEO overconfidence plays a critical role in influencing the risk management practices of digital banks, particularly in the context of moral hazard and adverse selection. While fintech innovations such as big data and machine learning have improved banks' ability to assess borrower risk, they cannot fully mitigate the risks posed by information asymmetry, especially when CEO bias skews decision-making. This paper is expected to fill part of a gap in linking the studies of how CEO bias impacts the financial sustainability of digital banks, exposing moral hazard and adverse selection. It provides a practical approach to examining the moderating influence of CEO bias on moral hazard and adverse selection in Indonesia’s digital banking sector, where fintech tools are heavily relied upon. While previous research has focused on the technical risks of fintech solutions, this paper explores how behavioral biases, particularly overconfidence, impact digital banking sustainability.
Economic Analysis of Law on Indonesia’s Capital Market Reform after P2SK Mardjono, Amerta; Lie, Gunardi
JURNAL USM LAW REVIEW Vol. 9 No. 1 (2026): -
Publisher : Universitas Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26623/julr.v9i1.13154

Abstract

Capital market legal reform through Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (the P2SK Law) represents a comprehensive effort to address structural weaknesses in Indonesia’s financial sector. However, existing scholarship remains limited in assessing the P2SK Law in an integrative manner, particularly in linking legal efficiency with the philosophical dimension of justice in capital market governance. This analytical gap raises questions as to whether the omnibus reform not only enhances market performance but also ensures fairness for all stakeholders. This study aims to analyze the implications of the P2SK Law for regulatory efficiency, transparency, and investor protection in Indonesia’s capital market. The research employs a qualitative normative legal method using the Economic Analysis of Law (EAL), Cost–Benefit Analysis (CBA), and classical legal philosophy approaches. Primary legal materials include the P2SK Law as well as regulations issued by the Financial Services Authority (OJK) and the Indonesia Stock Exchange, which are analyzed alongside legal and financial literature as secondary sources. The findings indicate that the strengthening of OJK’s authority and the enhancement of disclosure obligations under the P2SK Law contribute to lower transaction costs and improved information symmetry, which in turn causally promote greater investor confidence and deeper market liquidity. Furthermore, the simplification of the regulatory structure reduces overlapping authority and strengthens legal certainty, thereby improving capital market governance and systemic risk mitigation. From a justice perspective, the reform also expands retail investor access and accommodates digital financial innovation, aligning with the principles of corrective and distributive justice. The novelty of this study lies in its proposal of an integrative evaluation model that combines economic efficiency and moral justice in assessing capital market regulation. This contribution is not only theoretical but also practical, offering a comprehensive policy-analysis framework for evaluating the effectiveness of modern financial-sector reforms.
Co-Authors Haris Maupa Ignatius Roni Setyawan Lie, Gunardi