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INDONESIA
Jurnal Management Risiko dan Keuangan
Published by Universitas Brawijaya
ISSN : 29640695     EISSN : 29640695     DOI : -
Core Subject : Science,
Decision Sciences, Operations Research & Management
Publish all forms of quantitative and qualitative research articles and other scientific studies related to the field of Risk Management and Finance.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Strategi dan Menejemen
Articles 7 Documents
 1 
Search results for , issue "Vol. 1 No. 3 (2022)" : 7 Documents clear
PENGARUH GOOD CORPORATE GOVERNANCE, STRUKTUR KEPEMILIKAN, DAN UKURAN PERUSAHAAN TERHADAP KINERJA KEUANGAN Wandari, Rosita; Djazuli, Atim
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.07

Abstract

This research was conducted in light of Indonesia’s low score in good corporate governance application and cases of bad corporate governance in 2020. The unfavorable instances involved PT Jiwasraya and PT Asabri, insurance companies. This is ironic since financial industry is one of investor’s favorite sectors. The objective of this study is to assess and analyze the effect of good corporate governance, ownership structure, and firm age on the financial performance of financial-sector companies listed on the Indonesia Stock Exchange in the period of 2016-2020. Applying purposive sampling technique, 18 companies were selected as the sample. The data of this research was analyzed using multiple linear regression. This study finds that the size of board of commissioners, managerial ownership, and firm size positively and significantly influence financial performance, that institutional ownership negatively and significantly affects the performance, and that the proportion of board of commissioners, size of board of directors, and audit committee do not significantly influence it. In general, the dimensions of good corporate governance are not quite influential on financial performance, while ownership structure and firm size significantly affect the performance.
PENGARUH INFLASI, NILAI TUKAR KURS, SUKU BUNGA SBI TERHADAP HARGA SAHAM Nurdianingsih, Indah Eka Putri Pramesti; Toto Raharjo
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.04

Abstract

The purpose of this research is to identify the effect of inflation, USD’s exchange rate, and SBIinterest rate on stock prices. Using purposive sampling, nine companies listed on the IndonesiaStock Exchange from 2017 to 2021 were selected as the sample. The independent variables areinflation, USD’s exchange rate, and SBI interest rate, and the dependent variable is stock prices. The multiple linear regression analysis performed in this study has led to findings that inflation and USD’s exchange rate significantly affect stock prices and that SBI interest rate does not influence the stock prices.
KINERJA KEUANGAN SEBELUM DAN SESUDAH PENERAPAN SISTEM ENTREPRISE RESOURCE PLANNING (ERP) Ningtyas, Nova Dia; Khusniyah Indrawati, Nur
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.03

Abstract

The objective of this research is to identify differences in financial performance before and after the application of Enterprise Resource Planning (ERP) at PT. Ekadharma International, Tbk. Here financial performance is measured  based on the aspects of liquidity, leverage, and profitability, proxied by Current Ratio, Debt-to-Asset Ratio (DAR), Debt-to-Equity Ratio (DER), Net Profit Margin (NPM), Return on Assets (ROA), and Gross Profit Margin (GPM). This quantitative research uses secondary data obtained from the company’s financial statements of 2014, 2015, 2016, 2018, 2019, and 2020 published in the Indonesia Stock Exchange and in the company’s website. The Paired Sample T-test performed in IBM SPSS 24 has led to findings that there are differences in financial performance before and after the application of Enterprise Resource Planning system in the aspect of liquidity. However, there is no difference in the said performance before and after the system’s usage in the aspects of leverage and profitability.
IMPLEMENTASI GOOD CORPORATE GOVERNANCE DALAM UPAYA MENINGKATKAN KINERJA PERUSAHAAN Putri, Erika Priscilla; Pradana, Bayu Ilham
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.06

Abstract

The objective of this research is to identify the implementation of good corporate governance at PT. ASABRI (Persero) branch office of Surabaya in the effort of enhancing their performance. Here the company serves as the research object. The data was harvested through interviews, observations, and documentations and was analyzed using Miles-Huberman interactive analysis. This study finds that, in order to improve their performance, the company has well implemented good corporate governance principles consisting of accountability, responsibility, independency, and fairness. However, transparency has not been optimal since the branch office is merely a user; the manager is the head office. The well implementation of good corporate governance can increase the company’s performance and their image for the people.
PENGARUH FAMA-FRENCH FIVE FACTOR MODEL TERHADAP RETURN SAHAM Dewanto, Cliff; Sumiati, Sumiati
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.05

Abstract

Estimating the risk and return of a stock is important for an investor. The Fama and French is a model to predict and identify the tradeoff of purchased shares. Infrastructure is one of the sectors in the Indonesia Stock Exchange that experienced significant declines. The objective of this explanatory research is to identify the effect of Fama-French Model usage on stock return. The population are all 57 infrastructure-sector companies listed on the Indonesia Stock Exchange from December 2015 to December 2019. Using purposive sampling technique, thirty companies were selected as the sample. The results of the multiple linear regression analysis show that market excess return, book-to-market (HML), profitability (RMW), and investment pattern (CMA) have a positive and significant effect on stock returns and that size (SMB) negatively and significantly influences stock returns.
VALUATION OF STOCKS LISTED ON IDX HIGH DIVIDEND 20 INDEX (2018-2020) USING DISCOUNTED CASH FLOW (DCF) MODEL Xaviera, Athena; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.02

Abstract

This research’s background was based on the increasing number of investors in Indonesia’s capital market – including stock investment – especially in 2020. With such growth and enthusiasm regarding stock investment, the stock valuation may take place so investors can attain benefits and avoid loss. IDX High Dividend 20 (IDXHIDIV20) has good performance, and investors actively trade its stocks in the market; hence, stock valuation was deemed necessary. Discounted Cash Flow (DCF) was used to determine whether stocks are undervalued, fair valued, or overvalued. The type of this research was descriptive with a quantitative approach. The sample used was stocks listed on the IDXHIDIV20 index from 2018-2020, comprised of 27 stocks. This research showed that most of the stocks were overvalued throughout 2018-2020, with a percentage of 63%, 56%, and 59%, respectively. Among 15 consistently listed on the IDXHIDIV20 index throughout 2018-2020, 11 stocks were overvalued, and four were undervalued. As for the 12 inconsistently listed stocks, five stocks were overvalued, and seven were undervalued. Investors may sell or avoid the purchase of overvalued stocks and instead buy undervalued ones.
PENGARUH LITERASI KEUANGAN, PERILAKU KEUANGAN DAN PENDAPATAN TERHADAP KEPUTUSAN INVESTASI Latifah, R. R. Talitha Felicia; Juwita, Himmiyatul Amanah Jiwa
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2022.01.3.01

Abstract

The purpose of this study is to identify the effects of financial literacy, financial behavior, and income on investment decision. This quantitative explanatory research was conducted on the employees of PT ASABRI (Persero) in branch offices throughout East Java for six months, from April to December 2022. The data was harvested through questionnaires distributed to 51 respondents and was analyzed using multiple linear regression, F test, t test, and coefficient of determination test performed in SPSS version 28. This study finds that financial literacy significantly influences investment decision, that financial behavior significantly affects investment decision, and that income significantly impacts investment decision. These findings explain that income and the knowledge and capability of individuals used to manage their personal finance are key factors for their decision to make investments.

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