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THE MODERATING ROLE OF MANAGERIAL OVERCONFIDENCE IN THE NEXUS OF MANAGERIAL ABILITY AND FIRMS LEVERAGE Aang Kunaifi; Sri Yayu Ninglasari; Santy Dwi Cempaka; Muhammad Saiful Hakim
Jurnal Bisnis dan Akuntansi Vol. 27 No. 2 (2025): Jurnal Bisnis dan Akuntansi
Publisher : Pusat Penelitian dan Pengabdian Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/c5yktm43

Abstract

This study aimed to investigate the impact of managerial ability on corporate financial leverage and examine the moderating role of managerial overconfidence in Indonesian publicly listed firms. The analysis was based on 1,440 firm-year observations from 2017 to 2020 and used fixed-effects regression models with firm clustered standard errors. The results showed that higher managerial ability was positively associated with greater financial leverage. Furthermore, it was found that managerial overconfidence increased this effect, suggesting that highly capable yet overconfident managers were more inclined to increase debt levels, potentially due to greater risk tolerance. This study contributed to the corporate finance literature by showing how cognitive biases interacted with managerial competence to influence leverage decisions, an interaction largely overlooked in traditional capital structure theories. These results offered practical implications for corporate governance, emphasizing the importance of complementing evaluations of managerial ability with behavioral assessments to minimize excessive risk-taking. In the context of emerging markets, this study emphasized the need for institutional reforms that consider both managerial skills and psychological traits in executive decision-making. 
Underpricing and Long-Term Performance: A Study on Family Firm and Non-Family Firm IPOs in Indonesia Laylatul Inaya; Muhammad Saiful Hakim
Journal Research of Social Science, Economics, and Management Vol. 5 No. 1 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i1.971

Abstract

Abstract. This study aims to determine the effect of CEO characteristics, auditor reputation, and the moderation of underwriter reputation on the level of underpricing and long-term performance of family and non-family firms in IPOs in Indonesia. The study uses data from IPO companies between 2010-2021, with 350 companies as research samples, consisting of 140 family firms and 210 non-family firms. Data was collected from secondary sources such as the OSIRIS website, IDX, Bloomberg, and Yahoo Finance. The study found that Auditor Reputation has a significant negative effect on underpricing in family and non-family firms. The level of underpricing has a significant negative effect on long-term performance in family firms. Auditor Reputation has a significant positive effect on long-term performance in family firms, but Auditor Reputation does not affect long-term performance in non-family firms. The moderation of underwriter reputation weakens the relationship between family firms and underpricing but does not affect the relationship between family firms and long-term performance. It was also found that CEO characteristics do not affect underpricing and long-term performance in family and non-family firms.
Consumer Behavior Toward Sustainable Branding Strategies in Rural Markets: Systematic Literature Review Dhofirotun Nadifah; Muhammad Saiful Hakim; Muhammad Ubaidillah Al Mustofa
Airlangga Journal of Innovation Management Vol. 6 No. 4 (2025): Airlangga Journal of Innovation Management
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/ajim.v6i4.80249

Abstract

Sustainable branding has become a critical approach to rural markets, whose consumer behavior is defined by the peculiar socio-economic situation, the traditions of a culture, and environmental issues. Although the subject is receiving increased interest, little research exists that has established the correlation between bibliometric trends and empirical research on the reactions of rural consumers to sustainability efforts. Conceptual models or isolated case studies have been investigated in most studies; little has been done in establishing the relationship between thematic research clusters and actual rural market practices. The gap present in this study is that many studies have been conducted to determine the impact of information and knowledge systems on organizational performance and management in the past seven years (2015-2025), yet these studies were not anchored on a systematic literature review (SLR). To meet this gap, the current article merges both bibliometric analysis and systematic literature review (SLR) of 182 publications conducted in the last seven years (2015-2025) and uses R-Biblioshiny and VOSviewer to detect thematic clusters, patterns, and research Results indicate that the average annual publication increase is 6.39 percent, with China, India, and Indonesia as the leading nations and indicate 5 key themes, namely: green marketing adoption, sustainable branding in developing regions, corporate sustainability and trust, consumer behavior, and CSR in regional contexts. Empirical data have shown that rural consumers focus more on affordability, quality of products, health and safety, environmental commitments related to culture, but have difficulty accessing them, lack sustainability literacy, and do not trust brand claims. The theoretical contribution of the study is that it correlates bibliometric clusters with consumer behavior in rural areas and provides practical advice on how to create transparent, inclusive, and culturally responsive sustainability strategies.
Skill Up level Up: Training on Trainer Bisnis untuk Mahasiswa dalam Mendukung Terciptanya Sociopreneur Penggerak Ekonomi Muhammad Saiful Hakim; Imam Baihaqi; Santy Dwi Cempaka; Uliyatun Nikmah; Ana Hanifah Muslimah; Aldi Khoirul Anwar
Jurnal Pengabdian Masyarakat dan aplikasi Teknologi Vol. 4, No. 1: March 2025
Publisher : Institut Teknologi Adhi Tama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31284/j.adipati.2025.v4i1.6720

Abstract

Institut Teknologi Sepuluh Nopember (ITS) melaksanakan program quot;Skill Up, Level Up:Pelatihan Trainer on Trainer Bisnis untuk Mahasiswaquot; sebagai langkah strategis dalammempersiapkan mahasiswa menghadapi tantangan ekonomi modern. Program ini bertujuanuntuk meningkatkan literasi bisnis mahasiswa, terutama dalam bidang keuangan, operasional,dan pemasaran, guna memperkuat peran mereka sebagai agen perubahan dalampembangunan ekonomi. Latar belakang program ini adalah adanya kesenjangan dalamkemampuan dan pengetahuan pelaku usaha mikro, kecil, dan menengah (UMKM) dalammengembangkan bisnis mereka. Melalui peran kolaboratif, mahasiswa diharapkan dapatberkontribusi dalam menggerakkan perubahan di sektor bisnis dan masyarakat. Namun,keterbatasan kemampuan mahasiswa dalam pengembangan bisnis masih menjadi hambatan,sehingga pelatihan ini diharapkan dapat memberikan keterampilan praktis yang dapatlangsung diterapkan. Program ini tidak hanya berfokus pada peningkatan literasi bisnis, tetapijuga pada pembentukan jaringan komunitas literasi bisnis yang berkelanjutan. Penggunaanteknologi pembelajaran daring juga diintegrasikan untuk meningkatkan efektivitas program,dengan tujuan jangka panjang menciptakan inovasi dalam pendidikan serta pengembangansumber daya manusia yang berkelanjutan.
Peramalan Harga Saham BCA dengan Menggunakan Metode Hybrid Autoregressive Moving Average (ARIMA) – Gated Recurrent Unit (GRU) Ladyvista Tiursari Lumban Gaol; Sri Rachmi Nadhifah Dewi; Muhammad Saiful Hakim
Jurnal Akuntansi, Ekonomi dan Manajemen Bisnis Vol. 6 No. 2 (2026): Juli : Jurnal Akuntansi, Ekonomi dan Manajemen Bisnis
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/jaemb.v6i2.9478

Abstract

This study aims to develop a stock price forecasting model for Indonesia’s banking sector using a hybrid Autoregressive Integrated Moving Average (ARIMA) – Gated Recurrent Unit (GRU) method. Weekly stock prices of BCA (BBCA) from January 2016 to December 2023 were obtained from Yahoo Finance. The ARIMA model captures trend and seasonal patterns, while the GRU model handles the nonlinear characteristics of stock data. Model performance was evaluated using cross-validation and metrics such as Mean Absolute Percentage Error (MAPE) and Mean Absolute Error (MAE).