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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

Purpose – This study aims 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.     Design/methodology/approach – This explanatory quantitative research uses purposive sampling, selecting 24 LQ45 companies as the sample. Data were analyzed using multiple linear regression to test the proposed hypotheses.   Findings – The results show that internet financial reporting, website information disclosure level, and stock prices do not have a significant effect on stock trading frequency. In contrast, shares outstanding have a positive and significant effect. Simultaneously, all variables collectively have a significant effect on stock trading frequency.   Originality/value – This study contributes to capital market literature by examining how digital financial disclosure and market-related factors influence trading activity in Indonesia’s LQ45 index 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

Purpose – This study aims to analyze and empirically test the effect of green accounting, profitability, and leverage on the financial performance of companies in the basic materials, industrials, and consumer non-cyclicals sectors listed on the Indonesia Stock Exchange (IDX) during 2018–2022.   Design/methodology/approach – This quantitative study uses panel data regression analysis processed with EViews 13 software. The data consist of companies listed on the IDX within the specified sectors and period.   Findings – The results show that green accounting and leverage have a positive but not significant effect on financial performance. In contrast, profitability has a positive and significant effect on financial performance.   Originality/value – This study provides empirical evidence on the role of green accounting in relation to financial performance in Indonesian listed companies, contributing to sustainability accounting literature in emerging markets.
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

Purpose – This study aims to describe Environmental, Social, and Governance (ESG) values and Return on Invested Capital (ROIC) of companies included in the IDX ESG Leaders index.     Design/methodology/approach – This research uses a descriptive quantitative approach with purposive sampling. The sample consists of 12 companies during the 2020–2024 period. ESG values were measured using Global Reporting Initiative (GRI) indicators, while ROIC was analyzed descriptively.   Findings – The results indicate that companies are increasingly focusing on and implementing ESG practices across environmental, social, and governance dimensions. In addition, ROIC levels show that these companies have been able to generate returns from their invested capital.   Originality/value – This study provides a descriptive overview of ESG implementation and financial performance (ROIC) in ESG-indexed companies in Indonesia, highlighting the integration of sustainability practices with profitability outcomes.
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

Purpose – This study aims to analyze the effects of financial behavior and financial literacy on investment interest among graduate students of the Faculty of Economics and Business, Universitas Brawijaya, with locus of control as a moderating variable.    Design/methodology/approach – This replication study uses a quantitative approach with primary data collected through surveys. Respondents were selected using purposive sampling. The data were analyzed using multiple linear regression to test the relationships among variables.   Findings – The results show that financial behavior and financial literacy significantly influence investment interest. However, locus of control does not moderate the relationship between financial literacy and investment interest.   Originality/value – This study contributes to behavioral finance literature by examining the combined effects of financial behavior, financial literacy, and psychological factors on investment interest in a university student context.
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

Purpose –  This study aims to analyze the effects of financial ratios, foreign flow, inflation, and interest rates on stock returns of banking companies listed on the Indonesia Stock Exchange during the COVID-19 pandemic (2020–2021).    Design/methodology/approach – This descriptive quantitative study uses secondary quarterly data obtained from the Indonesia Stock Exchange, Bank Indonesia, and Mirae Asset Sekuritas. The sample consists of 39 banking companies selected through purposive sampling. The independent variables include non-performing loans, loan-to-deposit ratio, operational efficiency ratio, foreign flow, inflation, and interest rate. Data were analyzed using multiple linear regression.   Findings – The results show that non-performing loans, operational efficiency ratio, and inflation have significant effects on stock returns. In contrast, loan-to-deposit ratio, foreign flow, and interest rate do not have a significant effect on stock returns.   Originality/value – This study provides empirical evidence on how both internal banking performance indicators and macroeconomic factors differently influence stock returns during the COVID-19 crisis period in Indonesia.
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

Purpose – This study aims to implement the Material Requirement Planning (MRP) method to manage raw material inventory in cigarette production by identifying the most efficient lot sizing technique, determining optimal inventory quantities, and developing an effective procurement plan.   Design/methodology/approach – This research uses a quantitative descriptive approach based on demand data, raw material composition, production 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 methods, and MRP techniques.   Findings –  The results show differences in total inventory costs across methods, including EOQ (Rp 52,042,771.2), Part Period Balancing (Rp 41,707,679.53), and more efficient results using Wagner-Whitin Algorithm, Lot-for-Lot, and Period Order Quantity (POQ) with the lowest cost of Rp 30,019,632.81. The POQ method is identified as the most efficient due to its interval-based ordering system.   Originality/value – This study provides a comparative analysis of multiple lot sizing techniques within the MRP framework in the cigarette industry, highlighting the effectiveness of POQ in minimizing inventory costs through interval-based ordering strategies.
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

Purpose –  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.    Design/methodology/approach –  This explanatory quantitative research collected data from 153 respondents selected through purposive sampling using questionnaire-based instruments. Data were analyzed using Partial Least Squares – Structural Equation Modeling (PLS-SEM).   Findings – The results show that both financial literacy and technological advances have a positive and significant effect on the interest in investing in cryptocurrency assets among Generation Z.   Originality/value – This study highlights the combined role of financial literacy and technological accessibility in shaping cryptocurrency investment interest, providing insights for financial institutions, regulators, and digital investment platforms.
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

Purpose – This study aims to analyze quality control in Omah Tempe’s tempe production using Statistical Process Control (SPC) and to evaluate improvement actions through Failure Mode and Effect Analysis (FMEA).   Design/methodology/approach – This research uses a descriptive quantitative approach based on production data from December 27, 2024, to January 26, 2025. Data were collected through observation, interviews, and documentation. SPC tools (check sheet, control chart, Pareto diagram, and cause-and-effect diagram) were applied to identify defect types and causes, while FMEA was used to prioritize corrective actions using the Risk Priority Number (RPN).    Findings – The study identifies thirteen causes of production defects, including limited workforce, unhygienic worker behavior, weak supervision, inconsistent fermentation, and raw material issues. The results indicate that these factors significantly contribute to production defects in tempe manufacturing.   Originality/value – This study integrates SPC and FMEA methods to provide a structured approach for identifying defects and prioritizing improvements in small-scale food production, particularly in traditional tempe industries.
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

Purpose –  This study aims to examine the influence of lifestyle, financial technology, and financial literacy on millennials’ decisions in Malang City to invest in digital gold.    Design/methodology/approach – This explanatory quantitative research tests causal relationships among variables using hypothesis testing. The sample consists of 120 respondents selected through non-probability purposive sampling. Data were analyzed using multiple linear regression with SPSS version 27.   Findings – The results show that lifestyle, financial technology, and financial literacy each have a positive and significant effect on investment decisions, both partially and simultaneously.   Originality/value – This study integrates behavioral, technological, and financial literacy factors to explain digital gold investment decisions among millennials, offering a more comprehensive view of modern investment behavior.
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

Purpose – This study aims to examine the effect of herding behavior and anchoring bias on investment decisions, with risk tolerance as an intervening variable among Generation Z in Jabodetabek.    Design/methodology/approach – This explanatory research uses a quantitative approach to test causal relationships between variables. The sample consists of 143 respondents collected through online questionnaires. Data were analyzed using Partial Least Squares (PLS) with SmartPLS version 4.0.   Findings – The results show that herding behavior and anchoring bias have a significant direct effect on investment decisions. Both variables also significantly influence risk tolerance, which in turn significantly affects investment decisions. Additionally, risk tolerance mediates the relationship between herding behavior, anchoring bias, and investment decisions.   Originality/value – This study contributes to behavioral finance literature by highlighting the mediating role of risk tolerance in linking cognitive biases and investment decision-making among Generation Z investors.

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