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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 10 Documents
 1 
Search results for , issue "Vol. 4 No. 2 (2025)" : 10 Documents clear
The Effect of Internet Financial Reporting, Website Information Disclosure Level, Shares Outstanding, Stock Prices, On Stock Trading Frequency Dewi, Kadek Ayu Silvi Septya; Atim Djazuli
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.10

Abstract

The objective of this research is to identify the effects of internet financial reporting, website information disclosure level, shares outstanding, and stock prices on the stock trading frequency of LQ45 companies. This explanatory research attempts to identify the relationship between its variables through hypothesis testing. Using purposive technique, 24 companies were selected as the samples. In order to test the proposed hypotheses, multiple linear regression analysis was employed. This research finds that internet financial reporting, website information disclosure level, and stock prices do not have any significant effect on the stock trading frequency of the LQ45 companies, that shares outstanding have a positive and significant effect on the stock trading frequency of the companies, and that internet financial reporting, website information disclosure level, shares outstanding, and stock prices simultaneously have significant impact on the stock trading frequency of the said companies.
The Effect of Green Accounting, Profitability, and Leverage on Corporate Financial Performance Nimas Utari, Hanung Ratri; Affandy, Didied Poernawan
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.09

Abstract

Environmental degradation, climate change, and issues related to sustainability are major challenges pressing companies in all parts of the world, especially Indonesia. The existence of this challenge proves that an accounting system that incorporates environmental evaluation, such as green accounting, is needed. This study aims to analyze, identify, and empirically prove the effect of green accounting, profitability, and leverage on the financial performance of basic materials, industrials, and consumer non-cyclicals companies listed on the Indonesia Stock Exchange (IDX) between 2018 and 2022. The data of this study are analyzed by panel data regression processed by Eviews 13 software, and the results exhibit that green accounting and leverage have a positive and insignificant effect on the companies’ financial performance, and profitability has a positive and significant effect on financial performance. This study recommends that companies maintain their profitability to result in good financial performance, and serves as an insight and reference for further research especially on financial performance.
The Analysis of Return on Invested Capital Stephanie, Maurent Lavena; Wijayanti, Risna
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.06

Abstract

The increasing attention to Environmental, Social, and Governance (ESG) issues, as well as environmental concerns, has prompted companies to implement practices that focus on environmental, social, and governance aspects. The growing interest in green investments has led companies to shift towards ESG practices as an effort to gain the trust of various stakeholders and achieve profits from sustainable investments. This study aims to describe the ESG values and the Return on Invested Capital (ROIC) of companies indexed in the IDX ESG Leaders. The research was conducted on 12 companies during the period from 2020 to 2024, utilising purposive sampling for sample selection. A descriptive approach was employed to analyse the ESG values and ROIC of the companies, where ESG values were measured using indicators from the Global Reporting Initiative (GRI). The results of the descriptive analysis indicate that companies are increasingly attentive to and striving to implement ESG practices, encompassing environmental, social, and governance aspects. Furthermore, the level of return on invested capital demonstrates that companies have successfully achieved profits from their capital investments. These findings underscore the importance of integrating ESG practices into business strategies to achieve sustainability and profitability.
Analyzing The Impact of Financial Literacy on Investment Interest with Locus of Control as The Mediating Variable Aulia Falyauma Risky; Mychelia Champaca
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.08

Abstract

Indonesian investment and financial markets, which were then considered exclusive and complicated, are now growing rapidly. University students’ role in the capital market reflects a better financial behavior, and this is supported by their sufficient financial literacy that makes way for more comprehensive financial inclusion. All of these lead to a notion that financial behavior, financial literacy, and locus of control play a crucial role in increasing individuals’ investment intention. Therefore, the objective of this research is to identify and analyze the effects of financial behavior and financial literacy on the intention of graduate students of Faculty of Economics and Business of Universitas Brawijaya to make investments with locus of control as the moderating variable. This replication study uses primary data harvested via a survey technique to respondents selected using purposive sampling technique. The acquired data was analyzed through multiple linear regression. This study finds that financial behavior and financial literacy influence the investment intention and that locus of control does not moderate the effects of financial literacy on the investment intention.
The Influence of Financial Ratios, Foreign Flow, Inflation, and Interest Rates on Stock Returns Saputra, Idang Raya; Aisjah, Siti
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.05

Abstract

The objective of this research is to identify the effects of financial ratio foreign flow, inflation, and interest rate on the stock return of banks listed on the Indonesia Stock Exchange during the Covid-19 pandemic of 2020-2021. Therefore, there are six independent variables and one dependent variable. Using purposive sampling technique with the criteria of banking companies that have been on the listed prior to and have not been suspended during the research period, 39 companies were selected as the sample. This descriptive research uses secondary data in forms of quarterly reports from both years acquired from Indonesia Stock Exchange, Bank Indonesia, and Mirae Asset Sekuritas. The independent variables are non-performing loan, loan-to-deposit ratio, operational efficiency ratio, foreign flow, inflation, and interest rate. The research hypotheses were assessed using multiple linear regression. This study finds that non-performing loan, operational efficiency ratio, and inflation have significant effects on the stock return, while loan-to-deposit ratio, foreign flow, and interest rate have no significant effect on the stock return.
Material Requirement Planning (MRP) For Optimizing Raw Material Inventory in Cigarette Manufacturing Pratama, Muhammad Fawwaz; Waluyowati, Nur Prima
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.07

Abstract

Improving inventory management capabilities is essential to enhance a company competitive advantage, especially in industries heavily reliant on raw materials. This study aims to implement the Material Requirement Planning (MRP) method to manage raw material inventory for cigarette production by identifying the most efficient lot sizing technique, determining optimal inventory quantities, and developing a procurement plan. This is a quantitative descriptive study using demand data, raw material composition, production sequences, schedules, and inventory records for Cakra Kretek Emas 16 at PT Cakra Guna Cipta. Data were collected through interviews and document analysis, then processed using forecasting, lot sizing, and MRP techniques. The results show inventory costs are Rp 52,042,771.2 with Economic Order Quantity (EOQ), Rp 41,707,679.53 with Part Period Balancing (PPB), and Rp 30,019,632.81 while use Wagner-Whitin Algorithm (WWA), Lot for Lot (LFL), and Period Order Quantity (POQ). This study applies POQ technique, which uses time intervals as the basis for placing orders. The novelty lies in the comparative analysis of multiple lot sizing techniques within an MRP framework in the cigarette industry. The application of MRP with POQ technique is expected to optimize and minimize inventory costs by reducing long-term storage through interval-based ordering.
Financial Literacy and Technology Advancement: Triggers of Gen Z's Crypto Investment Interest Bintang Nurrama Putra; Ratnawati, Kusuma
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.04

Abstract

Cryptocurrency is gaining popularity among Generation Z, yet its complexity and volatility require strong financial understanding and technological access. This study aims to analyze the influence of financial literacy and technological advances on the interest in investing in cryptocurrency assets among Generation Z in Malang City. This explanatory quantitative study collected data from 153 respondents selected through purposive sampling, using questionnaires as the research instrument. The independent variables in this study are financial literacy and technological advances, while the dependent variable is interest in investing in cryptocurrency assets. The results of the analysis using Partial Least Squares – Structural Equation Modeling (PLS-SEM) show that both financial literacy and technological advances have a positive and significant effect on investment interest in cryptocurrency assets. These findings suggest that improved financial literacy and increased access to technology can encourage the younger generation to invest in digital assets. This research is expected to serve as a reference for financial institutions, regulators, and investment platform developers in designing educational strategies and developing digital-based financial technologies.
Defect Reduction in Tempe Production Using SPC and FMEA Methods Hadinugraha, Aditya Shafa; Jazuli, A Muhammad
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.02

Abstract

This study aims to analyze quality control of Omah Tempe's tempe production using Statistical Process Control (SPC) and evaluate improvement actions through Failure Mode and Effect Analysis (FMEA). A descriptive quantitative approach was employed, using the total production of tempe from December 27, 2024, to January 26, 2025. Data were collected through observation, interviews, and documentation. Four SPC tools: Check Sheet, Control Chart, Pareto Diagram, and Cause and Effect Diagram were used to identify defect types and causes. FMEA was applied to prioritize corrective actions using the Risk Priority Number (RPN). The study found thirtheen causes of defects, including limited workforce, unhygienic worker behavior, weak supervision, inconsistent fermentation, raw material issues. Based on the findings, Omah Tempe is suggested to increase workforce, conducting daily evaluations, improving sanitation, using checklists and thermometers, selecting higher quality raw materials, and providing guidance to reduce human error. The implications of this study highlight the importance of enhancing quality control at every stage of tempe production. Consistent quality supervision and improved raw material selection are need to reduce defects and enhance tempe production.
The Influence of Lifestyle, Financial Technology, And Financial Literacy on Millenials’ Digital Gold Investment Decisions Rahmasari, Adelia Gita; Sumiati
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.03

Abstract

Investment decisions are long-term processes that require careful consideration, involving the allocation of funds to specific assets with the goal of generating returns and maintaining financial stability in the future. This study is urgent due to the rising trend of digital gold among millennials in the post-pandemic era. This study aims to examine the influence of lifestyle, financial technology, and financial literacy on the decision of millennials in Malang City to invest in digital gold. As explanatory research, it explains causal relationships among variables through hypothesis testing. Using a non-probability sampling method with purposive sampling technique, 120 respondents were selected. The data were analyzed using multiple linear regression in SPSS version 27. The results show that lifestyle, financial technology, and financial literacy have a positive and significant effect on investment decisions, both partially and simultaneously. The results show that lifestyle, financial technology, and financial literacy significantly and positively affect investment decisions. The novelty of this study lies in linking behavioral, technological, and financial literacy aspects to explain digital gold investment. The findings suggest that both platforms and investors can apply these insights to support wiser investment choices.
The Effect of Herding Behavior and Anchoring Bias on Stock Decision-Making in the Capital Market with Risk Tolerance as a Mediating Variable Gastiadirrijal, Rakan; Andarwati
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.01

Abstract

This study aims to determine the effect of herding behavior and anchoring bias on investment decisions with risk tolerance as an intervening variable on Generation Z in the Jabodetabek. This type of research is explanatory research that aims to test existing hypotheses to find casual relationships between variables. This study used a sample of 143 respondents obtained through online distribution. The data analysis technique used is Partial Least Square (PLS) using the SmartPLS version 4.0 tool. The results of this study indicate that the herding behavior and anchoring bias variables have a significant direct effect on investment decisions. The herding behavior and anchoring bias variables also have a significant effect on risk tolerance. The risk tolerance variable has a significant effect on investment decisions. The test results also show that risk tolerance mediates the relationship between herding behavior and anchoring bias on investment decisions.

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