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Dinasti International Journal of Economics, Finance & Accounting (DIJEFA)
Published by Dinasti Publisher
ISSN : 27213021     EISSN : 2721303X     DOI : 10.31933
Core Subject : Economy,
The author is invited to submit a paper for Dinasti International Journal of Economics, Finance & Accounting (DIJEFA). Topics related to this journal include but are not limited to: Accounting and financial reporting Audit Accounting management Taxation Corporate finance Personal finance Financial risk management Corporate risk management Business management Entrepreneurship Cost management Economic Education Public administration Development economics Corporate governance Accounting Project management
Articles 1,652 Documents
Indonesia's Capital Market Reaction to the Announcement of BI Rate Reduction in 2025: An Event Study on Property and Real Estate Sector Companies on the Indonesia Stock Exchange Panji Garjito Adhinegoro; Sofie Sofie
Dinasti International Journal of Economics, Finance & Accounting Vol. 7 No. 3 (2026): Dinasti International Journal of Economics, Finance & Accounting (July - August
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v7i3.7078

Abstract

The announcement of changes in Bank Indonesia's benchmark interest rate is public information that has the potential to affect investor reactions because it changes expectations of economic conditions and the company's prospects in the capital market. This study aims to analyze the market's reaction to the five announcements of a BI Rate reduction in 2025 for property and real estate sector companies listed on the Indonesia Stock Exchange through changes in stock prices, trading activities, and volatility in securities returns. The study uses a quantitative approach with the event study method on five BI Rate announcement dates with an event window of 15 days on the stock exchange (t−7 to t+7). The research sample consisted of 92 companies selected using purposive sampling. The analysis was carried out using a market-adjusted model to calculate the expected return, while the market reaction test was carried out with a one-sample t-test, a paired-sample t-test, and a Wilcoxon signed-rank test according to the characteristics of the data. The results of the study show that the market reaction is different at each announcement of a BI Rate cut. The January and August announcements triggered a stronger stock price reaction, May showed the most prominent changes in trading activity and return variability, July reflected the accumulation of negative returns, while the positive response in September did not fully hold up during the observation period. These findings show that the content of information on the BI Rate reduction is dynamic and is influenced by the timing of the announcement and the observed dimensions of market reactions.
Optimizing Sustainable Coal Hauling Under Uncertainty: A Multi-Stage Decision Tree Approach for a Palembang-Based Subcontractor Imelda Kurniawan Santoso; Utomo Sarjono Putro
Dinasti International Journal of Economics, Finance & Accounting Vol. 7 No. 3 (2026): Dinasti International Journal of Economics, Finance & Accounting (July - August
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v7i3.7094

Abstract

This study develops a multi-stage decision tree model to optimize coal hauling operations for PT Baseline Business Control (PT BBC), a Palembang-based subcontractor facing weather uncertainty, strict ESG requirements, and thin profit margins. The model sequences four key decisions: route selection, fleet composition, driver productivity targets, and weather conditions, with a calibrated 30% probability of rain-induced full operational stoppages. Using data from management workshops and anonymized company records, six operational scenarios were evaluated on a 10-truck scale. The analysis combined Expected Monetary Value (EMV) through backward induction, Net Present Value (NPV) at a 5% discount rate, and Break-Even Point (BEP). Scenario 1, which uses the BSE–EPI PORT route, a 75% new / 25% old fleet mix, and an incentivized 17 trips per month target, emerged as the best option. It delivers the highest EMV of IDR 3.366 billion, a break-even period of 2.68 years, and an 18% reduction in CO₂ emissions intensity while achieving full ESG compliance. Sensitivity analysis using tornado and spider diagrams confirms that this strategy remains robust even under ±20% changes in coal price or rain probability. The findings show that selective fleet renewal combined with productivity incentives can effectively balance profitability, capital efficiency, and sustainability. This practical decision framework can be adapted by other coal hauling subcontractors across Indonesia and similar emerging markets.

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