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All Journal Business Innovation and Entrepreneurship Journal (JIMBE)
Fitrasari, Raisa Dea
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences Other

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Persepsi Mahasiswa Program Studi Manajemen Keuangan Sektor Publik Terhadap Green Finance Sebagai Bagian dari Pendidikan Keuangan Fitrasari, Raisa Dea; Zakiyatul Amaliyah; Parlis Lawalata; Rachman Hadi
Jurnal Ilmu Manajemen, Bisnis dan Ekonomi Vol 3 No 5 (2026): Februari
Publisher : PT Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59971/jimbe.v3i5.943

Abstract

Environmental pollution and excessive exploitation of natural resources emphasize the urgency of implementing sustainable development through the concepts of green economy and green finance. In higher education, students' understanding and perceptions of green finance are crucial factors in developing sustainable financial literacy, particularly for prospective public sector financial managers. This study aims to analyze the perceptions of students in the Public Sector Financial Management Study Program regarding green finance as part of financial education. A descriptive quantitative method was used, involving 48 students selected through purposive sampling. Data were collected using a questionnaire measuring three dimensions of perception: knowledge, attitude, and readiness toward green finance. The data were then analyzed using descriptive statistics. The results showed that students' perceptions were high across all dimensions, with an average knowledge score of 3.81, attitude score of 4.33, and readiness score of 4.17. These findings indicate that students have a good understanding, positive attitudes, and readiness to implement green finance principles in public sector finance. Therefore, the integration of green finance in financial education needs to be continuously strengthened to support sustainable public sector financial management.
Analysis of LQ45 Index Volatility Using the GARCH Model and Its Implications for Retail Investment Risk during the 2020-2025 Period. Fitrasari, Raisa Dea
Jurnal Inovasi Bisnis dan Kewirausahaan Vol 8 No 1 (2026): Business Innovation and Entrepreneurship Journal (February)
Publisher : Entrepreneurship Faculty, Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35899/biej.v8i1.1168

Abstract

The growth of individual investors in the Indonesian capital market has resulted in greater trading activity in the stock market, particularly in the blue-chip stocks that are constituents of the LQ45 index. Although the LQ45 stocks have high liquidity and a significant market capitalization, they are still subject to market risk, which is reflected in the changing returns over time. This study examines the volatility of the LQ45 index, which is a measure of the risk of retail investment in Indonesia, using the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model. For the study, the author uses secondary data of daily returns of the LQ45 index from 2021 to 2025 and uses the time series econometric method. The author undertakes the following analytical steps: tests for stationarity, tests for the presence of ARCH (conditional heteroskedasticity), and estimates the GARCH(1,1) model. The findings show that the returns on the LQ45 index are stationary and that they contain conditional heteroskedasticity and volatility clustering. Estimation from the GARCH(1,1) model shows that prior shocks, and the prior period's variance, strongly affect volatility, reflecting the model's volatility persistence. Additionally, further standardized residual diagnostics reveal that GARCH(1,1) model appropriately describes the volatility dynamics. These findings indicate that the risk related to retail investment in LQ45 stocks is both dynamic and persistent, which calls for adaptive risk management. This study theoretically advances the measurement of stock market volatility, and in Indonesia, it has practical implications for retail investors and regulators in risk management and financial education.
Co-Authors Parlis Lawalata Rachman Hadi Zakiyatul Amaliyah