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Golden Ratio of Finance Management
Published by Manunggal Halim Jaya
ISSN : -     EISSN : 27766780     DOI : https://doi.org/10.52970/grfm
Core Subject : Economy,
Economics, Econometrics & Finance
Golden Ratio of Finance Management (GRFM) encourages courageous and bold new ideas, focusing on contribution, theoretical, managerial, and social life implications. Golden Ratio of Finance Management (GRFM) welcomes papers that are based on human resources management for example: Accounting and Financial Reporting, Alternative Investments, Asset Pricing, Bank Solvency and Capital Structure, Banking Efficiency, Banking Regulation, Behavioural Finance, Commodity and Energy Markets, Corporate Finance, Corporate Governance and Ethics, Credit Rating, Derivative Pricing and Hedging, Empirical Finance, Experimental finance, Financial Applications of Decision Theory or Game Theory, Financial Applications of Simulation or Numerical Methods, Financial Economics, Financial Engineering, Financial Forecasting, Financial mathematics, Financial Risk Management and Analysis, Financial services, Financial theory, Islamic Finance, Islamic Banking, Personal finance, Portfolio Optimization and Trading, Public finance, Regulation of Financial Markets and Institutions., Stochastic Models for Asset and Instrument Prices, Systemic Risk
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 104 Documents
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The Effect of Green Accounting Implementation, Environmental Performance, and Sustainability Growth on Financial Reporting Quality with Profitability as A Moderating Variable Herny, H.; Herawaty, Vinola
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.479

Abstract

The non-climatic sector is a sector that is directly related to nature, so the activities carried out will have an impact on the sustainability of the surrounding environment. If natural and environmental factors are appropriately considered, it will impact the quality of financial reporting. This study aims to test and analyze the Effect of green accounting, environmental performance, and sustainability growth on financial reporting quality with Profitability as the control variable in companies listed on the Indonesia Stock Exchange for 2021 - 2023. From the research conducted, it was found that green accounting does not affect the quality of financial reporting, environmental performance affects the quality of financial reporting, sustainability growth has no effect on the quality of financial reporting, and Profitability affects the quality of financial reporting.
Financial Statement Fraud Before the Pandemic COVID-19 Azizah, Widyaningsih
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.480

Abstract

Financial statement fraud is a practice that can cause huge losses for investors, a lack of trust in the market and the existing accounting system, and the wrong decision-making process. Financial statement fraud can start from the manipulation of financial statements that are considered immaterial but then become a massive accounting scandal or start from the opportunistic behavior of managers so that their goals can be achieved. This study relies on the components of the fraud diamond to detect financial statement fraud, which consists of pressure, opportunity, rationalization, and ineffective monitoring. Pressure is proxied by external pressure, opportunity is proxied by ineffective monitoring, rationalization is proxied by auditor changes where auditor changes in companies can be seen as an attempt to eliminate fraud trials by previous auditors, and capability is proxied by changes in directors. This study succeeded in proving that pressure has a significant negative effect on financial statement fraud, and capability has no significant effect on financial statement fraud. Meanwhile, opportunity and rationalization do not affect financial statement fraud.
Exploring Public Finance Policies: A Qualitative Inquiry into Fiscal Policy Analysis, Government Financial Management, and Public Sector Financial Health Idrus, Arifin
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.481

Abstract

This study explores the complexities of public finance governance, focusing on fiscal policy analysis, government financial management, and public sector financial health. Employing a qualitative research methodology, the study aims to analyze existing literature to uncover key themes, trends, and challenges in these domains. Through systematic literature review and thematic analysis, the research synthesizes insights from diverse disciplinary perspectives, including economics, public administration, and political science. Findings highlight the significance of fiscal policy as a countercyclical tool for promoting macroeconomic stability, the importance of effective financial management in ensuring transparency and accountability, and the multidimensional nature of public sector financial health. Challenges such as corruption, inadequate institutional capacity, and political interference are identified, underscoring the need for proactive measures to strengthen governance integrity. Innovative approaches, including accrual accounting standards and performance-based budgeting frameworks, offer promising solutions to enhance governance effectiveness and resilience. The study also emphasizes the role of adaptive governance strategies and agile financial management frameworks in responding to unforeseen crises while maintaining long-term fiscal sustainability. Future research directions include exploring the differential impacts of fiscal policy interventions, assessing the long-term implications of the COVID-19 pandemic, and examining the role of international cooperation in addressing global fiscal challenges.
The Influence of Liquidity and Sales Growth on Capital Structure in Manufacturing Companies on The Indonesian Stock Exchange Pratiwi Ar, Dhita; Nurfadilah, N.; Ramlah, R.; Lawalata, Izzac L.D; Panus, P.
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.485

Abstract

This study aimed to determine the effect of liquidity and sales growth on capital structure. The research population is food and beverage manufacturing companies listed on the Indonesia Stock Exchange for 2017 - 2021. The research sample was six companies. Data was analyzed using linear regression and processed using the IBM SPSS 25 program. The results showed that the partial Current Ratio negatively and significantly affects the Equity Ratio. Meanwhile, sales growth has no significant impact on Debt-to-equity Ratios in food and beverage companies.
The Effect of Tax Knowledge and Tax Sanctions on Taxpayer Compliance in The Millennial Generation in Karawang with Tax Awareness as Moderation Variable Karo, Rospita Br; Herawati, Vinola
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.495

Abstract

This study aims to determine the effect of tax knowledge and tax sanctions on taxpayer compliance in the millennial generation in Karawang, with tax awareness as a moderating variable. This study's sample is the Millennial Generation in Karawang, Generation Y, born between 1982 and 1996. Disseminating questionnaires online, namely filling out Google forms with as many as 110 samples. Hypothesis testing is using a structural equation model. The results of this study provide the following: It can be concluded that tax knowledge positively influences taxpayer compliance, and tax sanctions do not. Furthermore, tax awareness can strengthen the positive perspective of tax knowledge on taxpayer compliance. Tax awareness can strengthen the negative perspective of tax sanctions on taxpayer compliance.
Does Eco-Feminism Affect the Quality of ESG Disclosures and Banking Performance? Sukmawan, Gumilar; Khomsiyah, K.
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.496

Abstract

This study aims to analyze the relationship between the nature of ecofeminism of female directors and ESG disclosure and the nature of ecofeminism to banking performance. This study uses how many female directors in a bank as an independent variable, while the dependent variable is ESG disclosure and banking performance as measured by ROA. This study uses a sample of conventional banks listed on the Indonesia Stock Exchange from 2021 to 2023. A total of 43 conventional banks were taken as samples, and the purposive sampling method was used. This study used linear regression analysis using IBM SPSS 27. The results of this study found that female directors have no effect on ESG disclosure, while female directors influence banking performance.
Analysis of Ambon City Community Interest in Investment in Government Securities (SBN) Perspective of Theory of Planned Behaviour Laisila, Maya; Purimahua, Sarlotha Yuliana
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.555

Abstract

The increasing number of capital market investors is a potential government funding source. However, the single investor identification (SID) data from PT Custodian Sentral Efek Indonesia (KSEI) shows that the number of Ambon City investors is only 0.03% nationally, especially investors in Government Securities instruments (SBN). In response to the gap that occurred, this research was conducted to analyze Ambon City's investment interest in government securities and examine the psychological and social factors underlying Ambon City's interest in investing in government securities. The research method is descriptive qualitative, with informants selected by purposive sampling using specific criteria. Primary data sources came from informants and secondary through documents, books, and journals. Data collection techniques through interviews, observation, and documentation were then analyzed using the theory of Planned Behaviour and source triangulation techniques to ensure data validity. The results showed that (1) the interest of the Ambon City community in investing in government securities increased but was still low, (2) the low investment demand was influenced by the level of financial literacy of the community, the perception / consumptive culture of the community and the supporting/inhibiting factors that arose in the investment process.
Application of Murabahah Operations on Gold Savings Products on Customer Deposit Fund Profits at Bank Syariah Indonesia (Case Study at Bank Syariah Indonesia Panyabungan Branch Office) Pulungan, Rahmad; Syakir, Ahmad; Anggraimi, Tuti
Golden Ratio of Finance Management Vol. 5 No. 1 (2025): October - March (Article in Press)
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v5i1.631

Abstract

This study aims to determine the "Analysis of Murabahah Operations on Gold Savings Products Against the Profits of Customer Trust Funds at Bank Syariah Indonesia (Case Study of Bank Syariah Indonesia KCP Panyabungan)". This research was conducted at Bank Syariah Indonesia KCP Panyabungan. The method in this study uses qualitative methods with the form of data research (field research). The results showed that operations on gold savings products at Bank Syariah Indonesia KCP Panyabungan use murabahah contracts, but also wadi'ah and istishna' contracts, and the analysis of murabahah operations on gold savings products on deposit fund profits at Bank Syariah Indonesia KCP Panyabungan shows that murabahah contracts are used in sale and purchase transactions on gold savings products with this savings model has special characteristics that make it unique.
Analysis of the Application of the Capital Asset Pricing Model (CAPM) Method in Making Islamic Stock Investment Decisions Ramli, Anwar; Anwar, Indah Lestari
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.635

Abstract

This study aims to analyze the application of the Capital Asset Pricing Model (CAPM) in sharia stock investment decision making, especially JII70. The research design used is a quantitative approach. The type of research used is descriptive research. This research leads to the shares of companies included in the Jakarta Islamic Index 70 (JII70) on the Indonesia Stock Exchange. The population in this study were all shares of companies listed on the Jakarta Islamic Index 70 (JII70) in the period January 2019-January 2024. The research sample was 32 JII70 stock issuers who consistently entered JII70 during the period January 2019-January 2024. The results showed that there were 14 issuers of JII70 stocks in the efficient category because they had individual stock returns greater than the expected rate of return [Ri > E(Ri)] with positive individual returns.
Exploring Financial Risk Management: A Qualitative Study on Risk Identification, Evaluation, and Mitigation in Banking, Insurance, and Corporate Finance Idris, Hariany
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.651

Abstract

This qualitative literature review explores financial risk management practices across banking, insurance, and corporate finance sectors. The research aims to analyze existing scholarly works to gain insights into risk identification, evaluation, and mitigation strategies. The methodology involves a comprehensive literature search using academic databases such as PubMed, JSTOR, Scopus, and Google Scholar. Inclusion and exclusion criteria are applied to filter relevant sources, and data collection involves reading and critically appraising each selected source. Thematic analysis is employed to identify key findings, themes, and theoretical frameworks. The synthesized findings reveal the importance of risk identification as a fundamental step in effective risk management, encompassing various risks such as credit, market, liquidity, operational, and systemic risks across different sectors. Risk evaluation techniques, including quantitative methods such as value-at-risk modeling and scenario analysis, are crucial for assessing risk impact and likelihood. Risk mitigation strategies, such as financial derivatives, reinsurance, and corporate governance mechanisms, are essential for minimizing risk exposure and enhancing organizational resilience. Challenges such as cybersecurity threats, regulatory complexities, and climate change risks present significant obstacles to risk management. The study highlights the need for integrated risk management approaches that consider emerging threats and uncertainties, promote regulatory cooperation, and leverage technological innovations. The findings contribute to advancing theoretical frameworks and informing practical strategies for effective risk management across industries.

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