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INDONESIA
International Journal of Finance Research
ISSN : -     EISSN : 2746136X     DOI : 10.47747
Core Subject : Economy, Social,
International Journal of Finance Research (IJFR) is a peer-reviewed journal which publishes original research papers. IJFR has been published since 2020. It is currently published quarterly (March, June, September & December). Areas of research include, but are not limited to Finance and Investment, capital markets, financial institutions, corporate finance & corporate governance. e-ISSN: 2746-136X. The Digital Object Identifier (DOI) is assigned to each published article and the journal is indexed by Crossref, Neliti.Com, Dimensions and Google Scholar.
Articles 131 Documents
Examining the Influence of Educational and Field Training Programs on Employee Competency at PT. Kereta Api Indonesia (Persero) Rolanda, Berti Dwi; Elpanso, Efan
International Journal of Finance Research Vol. 5 No. 3 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i3.2000

Abstract

Organizations face intensified competition in the era of globalization, making effective Human Resources (HR) management crucial for success. This study investigates the impact of education and field training on employee competency at PT. Kereta Api Indonesia (Persero) Divre III Palembang, an enterprise aiming to enhance its railway services. The problem identified is the discrepancy between educational qualifications and practical competencies, exacerbated by insufficient training resources. This research aims to examine how education and field training influence employee competency and to provide recommendations for improving HR practices. Using a quantitative approach, data were collected from 122 employees through questionnaires and observations, supplemented by a literature review. Hypotheses were tested using multiple regression analysis and statistical tests. The findings reveal that education significantly and positively affects competency, which means that higher education levels necessarily equate to higher competency. Then, field training also significantly improves competency, highlighting its effectiveness in developing practical skills. The study also found that both education and field training, when considered together, significantly impact employee competency. Based on these findings, it is recommended that PT. Kereta Api Indonesia (Persero) should consider further evaluating job assignments, differentiating the training materials to meet the competency needs of each position better, and strengthening training programs that focus on developing critical thinking and independent problem-solving skills.
Assessing the Impact of Human Resource Competency and Employee Commitment on Performance at Urban Republic, a Member of the Erajaya Group, Palembang Sari, Indah Permata; Heriyanto, Heriyanto
International Journal of Finance Research Vol. 5 No. 3 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i3.2001

Abstract

Companies must innovate and improve employee performance in today’s competitive business climate to maintain their market share. Urban Republic, a company headquartered in Palembang and part of the Erajaya Group, is the subject of this study, which examines the relationship between employee participation and HR competency and performance. Improving employee performance requires HR competency, including technical and non-technical skills, and employee commitment, characterized by loyalty and dedication. For Urban Republic to remain competitive, they must understand how these elements affect performance. This study aimed to assess the impact of employee commitment and HR competency on performance. Three sections of labor area heads, store leaders, and staff were given surveys as part of the quantitative approach. Multiple regression analysis was used to analyze the data, supported by validity, reliability, and classical assumption tests. The results showed that employee dedication showed almost significant significance, indicating a possible influence, while employee competence had a statistically significant impact on employee performance. Dedication and HR competency significantly impact performance when the two work together. This analysis emphasizes the importance of continuous HR development investment and the potential benefits of employee commitment. To reduce the risk of employee turnover, it is recommended that HR training programs be improved, employee recognition programs be strengthened, commitment issues be addressed, and staff well-being be monitored to avoid burnout. It is recommended that more research be conducted to examine the intricacies of employee dedication and how it impacts work outcomes. The study concluded that a balanced focus on HR competency and employee commitment is essential to optimize employee performance at Urban Republic
The Effect of Financial Literacy and Payment Gateway on Financial Performance in MSMEs in Palembang City Dwiana, Handina; Gunarto, Muji
International Journal of Finance Research Vol. 5 No. 3 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i3.2100

Abstract

This research, aimed at testing the influence of financial literacy and payment gateways on the financial performance of MSMEs in Palembang, yields significant findings. The sampling technique, non-probability with purposive sampling, was employed to gather data from 100 respondents in the culinary subsector MSMEs in Palembang. The research method, a quantitative approach involving the distribution of questionnaires, was used. The data analysis, facilitated by SmartPLS 3 software, included the evaluation of measurement models, structural models (inner models), and hypothesis testing. The research results, which are of paramount importance, reveal that financial literacy has a positive and significant effect on financial performance, payment gateway has a negative and insignificant effect on financial performance, financial literacy has a positive and significant effect on payment gateways, and payment gateways are unable to mediate and have a negative impact between financial literacy and financial performance
Comparative Analysis of Financial Performance of Family Companies and Non-Family Companies Septianasari, Ratri; Gunarto, Muji
International Journal of Finance Research Vol. 5 No. 3 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i3.2101

Abstract

This study aims to analyze and compare the financial performance of family and non-family companies. The objects in this study are banking sub-sector companies and state-owned companies listed on the Indonesia Stock Exchange in 2023. This type of research is descriptive quantitative. The number of samples taken in this study were 37 companies and 11 non-family companies. A purposive sampling technique was used. This study indicates differences in profitability, activity, and liquidity ratios between family and non-family companies. No difference exists in leverage ratio, capital structure, and stock price between family and non-family companies. This research is expected to contribute to and refer to further research comparing the financial performance of family and non-family companies.
Formulation of Business Development Strategy Through SWOT Approach and Business Model Canvas (Case Study on MSMEs in Padamulya Village) Lestari, Fitri; Muttaqin, Ridlwan
International Journal of Finance Research Vol. 5 No. 3 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i3.2103

Abstract

This study highlights the important role of micro, small, and medium enterprises (MSMEs) in the local and national economy, especially in developing countries. It focuses on Padamulya Village in Pasirwangi District, Garut Regency. MSMEs in this village are the driving force of the regional economy through their ability to create jobs and adapt to technological changes. This study uses a qualitative approach to analyze MSME development strategies in Padamulya through SWOT analysis and Business Model Canvas (BMC). The purpose of the study is to identify the challenges faced by MSMEs, including limited capital, technology, and market access, and to formulate effective development strategies in the era of globalization. The study results indicate that MSMEs in Padamulya are in a growth phase focusing on increasing short- and medium-term profitability and product and technology innovation. Through product diversification, quality improvement, and the development of distribution channels, MSMEs in this village can strengthen their competitiveness in domestic and international markets. This study guides policymakers and MSME actors in optimizing local potential and strengthening the regional economy. It also underscores the need for further studies on implementing BMC in other MSMEs, highlighting the importance of continuous learning and improvement in the field of business development.
The Influence of Motivation, Compensation, and Competency on Employee Performance Mediated by Job Satisfaction (Case Study at Lembaga Penjamin Simpanan) Fitriany, Netty; Mudjijah, Slamet
International Journal of Finance Research Vol. 5 No. 3 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i3.2111

Abstract

This research aims to analyze motivation, compensation, and competence on employee performance as mediated by job satisfaction at the Deposit Insurance Corporation. This research uses a survey method with a sample of 100 people using a proportional stratified random sampling technique. The data collection technique uses a questionnaire whose validity and reliability have been tested. The data analysis technique uses the Partial Least Square (PLS) application version 3.2.9. by evaluating the outer model, the inner model, and path analysis tests. The research results provide conclusions: (1) Motivation has no significant effect on employee performance; (2) Compensation has a significant effect on employee performance; (3) Competency has a significant effect on employee performance; (4) Motivation has no significant effect on job satisfaction; (5) Compensation has a significant effect on job satisfaction; (6) Competency has a significant effect on job satisfaction; (7) Job satisfaction has no significant effect on employee performance; (8) The influence of motivation on employee performance cannot be mediated by job satisfaction; (9) The effect of compensation on employee performance cannot be mediated by job satisfaction; (10) The influence of competency on employee performance cannot be mediated by job satisfaction; (11) The coefficient value of the determinant ( ) of the Job Satisfaction construct is 0.649, indicating that the influence of Motivation, Compensation, and Competence constructs on Job Satisfaction is 64.9%; (12) The coefficient value of the determinant ( ) of the Employee Performance construct is 0.640, indicating that the influence of Motivation, Compensation, and Competence Job Satisfaction constructs on Employee Performance is 64%.
The Effect of Implementing the Balanced Scorecard on the Management Performance of PT YKK AP Indonesia Irwanto, Endrik; Nopriana, Wiwin; Nisah, Ainun; Ratnandari, Anditya Anggun
International Journal of Finance Research Vol. 5 No. 3 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i3.2231

Abstract

This study aims to determine the effect of a balanced scorecard on the management performance of PT. YKK AP Indonesia. This study used 40 employees of PT. YKK AP Indonesia, who met the criteria to be respondents. This study was conducted using the conventional sampling method on PT employees. YKK AP Indonesia and analyzed using multiple linear regression. The first stage tested the validity and reliability of questions for each variable. The second stage conducted a classical test, and the third stage conducted an F test, t-test, and determination coefficient test. The results of the t-test study showed that the variables of financial perspective, customer perspective, internal business process perspective, and growth and learning perspective had a partial effect on management performance. In the F test, all independent variables simultaneously affected the dependent variable. Meanwhile, the determination coefficient value shows that the independent variables of financial perspective, customer perspective, internal business process perspective, and growth and learning perspective contributed to the dependent variable, namely management performance, by 49%, while other factors outside the model influenced the remaining 51%.
Observing the Influence of Job Demands, Job Resources, and Family Demands on Work Engagement Moderated by Self-Efficacy Rangkuti, Samsiah; Harsasi, Meirani; Asih, Daru; Patiro, Shine Pintor Siolemba; Yusriani, Sri
International Journal of Finance Research Vol. 5 No. 4 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i4.1992

Abstract

According to the Job Demand-Resource Theory, job demands, job resources, and personal resources significantly influence employee performance through work engagement (Bakker & Demerouti, 2017). Furthermore, performance is also affected by demands and resources originating from the family context (Brummelhuis & Bakker, 2012). This study aims to examine the impact of job demands, job resources, and family demands on work engagement, with self-efficacy as a moderating variable. The research was conducted at the Central Statistics Agency (BPS) across various districts/cities in North Sumatra Province, using a sample of 309 employees. The sampling technique employed was systematic random sampling, and the data analysis method used was Partial Least Square-Structural Equation Modeling (PLS-SEM). The study's findings show that both job resources and self-efficacy significantly and positively impact work engagement. This suggests that increases in job resources and self-efficacy are associated with enhanced work engagement. Conversely, job demands and family demands did not significantly affect work engagement. Additionally, the findings reveal that self-efficacy does not significantly moderate the relationship between job demands, job resources, family demands, and work engagement.
Factors Influencing Going Concern Audit Opinion (Empirical Study of Manufacturing Companies Listed on the Indonesian Stock Exchange) Sintia, Dea; Indriani, Poppy
International Journal of Finance Research Vol. 5 No. 4 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i4.2220

Abstract

This research aims to determine the influence of profitability, leverage, company growth, previous year’s audit opinion, and company size on ongoing concerned audit opinions in manufacturing companies listed on the Indonesia Stock Exchange. A going concern audit opinion is given to a company that has financial problems but is considered capable of continuing its business within a reasonable period of time. This research uses secondary data from audited financial reports, which can be accessed via the Indonesia Stock Exchange website, namely www.idx.co.id.The population in this study was 136 manufacturing companies, and the sample used was 50 companies. The sampling method is purposive sampling with data analysis techniques using logistic regression. The results of this research show that the previous year’s audit opinion influences the going concern audit opinion Meanwhile, profitability, leverage, company growth and company size do not affect going concern audit opinion
Comprehensive Analysis of Capital Asset Pricing Model and Arbitrage Pricing Theory in Stock Investment Decision Making Syahwildan, Muhamad; Widiastuti, Widiastuti
International Journal of Finance Research Vol. 5 No. 4 (2024): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v5i4.2255

Abstract

The increasingly advanced development of technology and the phenomenon of the Covid-19 outbreak, which has caused most employees to be affected by Work From Home, has led most people, especially the millennial generation or people under the age of 30, to be interested in allocating their excess funds into stock investments. This study aims to analyze the development of a multi-factor CAPM model by including volatility as an additional factor: a new approach in asset pricing with a case study of companies listed on the Indonesia Stock Exchange included in the LQ45 Index for the 2020-2023 period. The independent variables used in this study are Risk Premium (Beta), Company Size (SMB), book-to-market ratio (HML), and Stock Price Volatility. In contrast, the dependent variable used in this study is proxied by Stock Return with Excess Return. The population in this study consists of 45 companies. The sampling method uses a Purposive Sampling Technique. The analysis method used in this study is Multiple Linear Regression. The result of the study shows that the Risk Premium and Company Size variables partially have a significant positive effect on Stock Returns. The Book to Market Ratio variable partially has a negative but not significant impact on Stock Returns. Meanwhile, the Stock Price Volatility variable has a positive but insignificant effect on Stock Returns. The independent variables in this study can explain 88,61% of the factors affecting Stock Returns, while 11,39% is explained by other factors not researched in this study.

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