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Sautma Ronni Basana
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ijfis.editor@petra.ac.id
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INDONESIA
International Journal of Financial and Investment Studies
Published by Universitas Kristen Petra Surabaya
ISSN : -     EISSN : 27453952     DOI : https://doi.org/10.9744/ijfis
Core Subject : Economy,
Economics, Econometrics & Finance
International Journal of Financial and Investment Studies (IJFIS) e-ISSN: 2745-3952 is a peer-reviewed journal that aims at the dissemination and advancement of research in the areas of economics and finance with a specific focus on financials and investments. The aim of the Journal is to provide a platform to researchers, practitioners, academicians, and professionals associated with the field of financials and investments. To encourage and promote research across a wide breadth of areas pertaining to financials and investments. Preference will be given to comparative studies that take global and regional perspectives as well as comprehensive single country studies that address critical policy issues and have significant global and regional implications.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 43 Documents
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THE EFFECT OF COMMODITY SUPERCYCLE AND DOMESTIC MARKET OBLIGATION ON PROFITABILITY RATIO (NET PROFIT MARGIN, RETURN ON ASSET) CASE STUDY ON COAL MINING ISSUERS IN INDONESIA STOCK EXCHANGE Muhammad Alfan Wildani
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.63-68

Abstract

The Covid-19 pandemic has resulted in economic paralysis due to the economy and human mobility. This resulted in demand for commodities that occurred simultaneously with conditions that were already improving, causing the supply to be unable to meet demand because the world's industrialized countries continued to boost their economic activities. This led to a very large demand for commodities, opening up coalescing commodities in general which soared simultaneously and formed a super cycle in commodities. Coal commo­dities that occur very quickly are certainly very profitable for coal mining companies. Based on the results of the regression in the study, it shows an increase in the reference price of coal which in this study uses the price of coal at Newcastle Port. It can be seen that one point of increase in the price of coal will affect an increase of 0.173 in return on assets and 0.111 in the net profit margin of coal mining issuers listed on the Indonesia Stock Exchange. The influence of the independent variable supercycle commodities, which in this study uses coal samples and the Domestic Market Obligation (DMO) policy, proved to have an effect and positive value on the dependent variable.
FACTORS INFLUENCING THE ENGAGEMENT OF MILLENNIAL EMPLOYEES IN SURABAYA-INDONESIA Bella Vania; Winda Christanto; Juliana Caesaria Tandung; Ruth Srininta Tarigan
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.69-78

Abstract

Engaged employees tend to produce better results, which no doubt will bring benefits to organizations. Unfortunately, in Indonesia, only 25% of Millennial employees are engaged, while Millennial employees have occupied 35% of the total workforce. This research aims to identify the influence of the seven determinants of employee engagement, namely work environment, leadership, co-worker relationship, training and career development, compensation, organizational policies, and workplace well-being, on the engagement level of Millenial employees in one of the fastest growing industry in Indonesia, which is the Cafe and Restaurant Industry. The initial 115 data have been gathered, and multiple regression analysis shows that the seven determinants explained 93.6% of the variance in employee engagement (Adjusted R2=0.936, F=239.174, p<.000). Furthermore, only five factors show a significant individual influence on the engagement level: leadership (b=328, p<.000), co-worker relationship (b=.239, p<.004), training and career development (b=254, p<.011), compensation (b=383, p<.001), and workplace well-being (b=176, p<.005). Implications for these findings are discussed in the full paper.
THE MATURITY LEVEL OF ENTERPRISE RISK MANAGEMENT IMPLEMENTATION IN MEDIUM-SIZED PRIORITY SECTOR COMPANIES IN EAST JAVA Pwee Leng; Basuki Basuki; Rahmat Setiawan
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.79-93

Abstract

This study aims to measure the maturity level of Enterprise Risk Management in medium-sized priority sector companies in East Java. Studies on the application of ERM were previously focused more on big companies and tended to be carried out abroad and still gave inconsistent results. In addition, the number of studies on previous ERM that addressed the practice of its application on companies has not been that many. There are several studies on ERM conducted in Indonesia, however, the research objective focuses on the financial services industry referring to large companies listed on the Indonesia Stock Exchange. Although several studies have yielded significant results for application in medium-sized companies, they are only centered on construction services companies. There are 16 indicators used to measure the maturity level of ERM implementation in this study that have been adjusted to the characteristics of medium-sized industrial companies in Indonesia. The results of this study indicate that all medium-sized industrial companies in East Java have implemented integrated risk management (ERM) and have reached the optimal maturity level in implementing ERM. The results of the study also found that the automotive and electronics industry sectors are 2 industrial sectors that have the highest level of maturity in implementing ERM. Meanwhile, the lowest maturity level occurred in the food and beverage industry sector.
COMPARISON OF INVESTMENT STRATEGIES IN INNOVATION AND NON-INNOVATION PORTFOLIOS WITH PORTFOLIO OPTIMIZATION Otniel William Hartanto; Sautma Ronni Basana
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.101-109

Abstract

This study aims to examine whether asset allocation strategies to the innovation sector can provide superior portfolio performance to investors. This type of research is comparative research using secondary data sources. The sample used is ETFs (Exchange Traded Funds) from investment companies namely BlackRock and Ark Invest since 2015. The focus of this study is to compare the performance of portfolios without an allocation to innovation assets and portfolios with allocations to innovation assets. This study analyzes the difference in performance between the two portfolios for various weightings and several portfolio optimization approaches, such as 'equal weighting' (1/N), optimality Lagrange, minimum-variance (MinVar), mean-variance (MV), and market-value weighted strategy.
WILLINGNESS TO PAY FOR TOURISTS TAX IN PREMIUM DESTINATIONS: LABUAN BAJO CASE STUDY Reynaldo Angga Siagian; Ni Wayan Noviana Safitri; Thyophoida W. S. Panjaitan
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.94-100

Abstract

The government is trying to break away from dependence on the exploitation of natural resources, so in recent years, it has focused on tourism. The Covid-19 pandemic has greatly impacted the tourism sector, but in 2022 the level of foreign tourist visits to Indonesia is slowly starting to improve. Labuan Bajo is one of the areas targeted by the government to be developed in the tourism sector to make premium destination spots, in supporting the existence of tourism, various infrastructures are built so that they can become world-class destinations. In addition, Labuan Bajo also offers natural tourism products that require sustainability to maintain their natural habitat and certainly require considerable costs in conducting regular monitoring and maintenance. The existence of high development and operational costs, the government needs to find ways to obtain optimal state revenue, especially in terms of taxes charged to tourists. The revenue obtained from the tourism tax is a very important financial source for the government and tourism authorities to ensure the sustainability of the tourism sector and can improve the quality of destinations given to visitors to tourist attractions. In an effort by tourism policymakers to create an efficient and fair tax system in tourist destinations, it is very important to understand tourists' perceptions of willingness to pay (WTP), tax rates, and optimal allocation. This research is a qualitative study, and the purpose of this study is to evaluate the tourism tax charged to tourists as compensation to get optimal regional income and to measure the willingness to pay tourists. The ability to pay is necessary to know how much the government can attract taxes to get optimal local revenue but not be too burdensome for tourists. This research will also explore tourist perceptions regarding taxes and what things need to be developed so that absorption from state and regional budgets can be effective in developing destination areas, especially in a sustainable manner. The approach used in data collection using semi-structured in-depth interviews with international tourists visiting Labuan Bajo, East Nusa Tenggara. This research is expected to be used by policymakers to understand the optimal value of tourism taxes to be able to develop their regions.
THE EFFECT OF FINANCIAL LITERACY AND DEMOGRAPHICS ON THE SAVING BEHAVIOR OF THE MILLENNIAL GENERATION Stephanie Lie; Dewi Astuti; Mariana Ing Malelak
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.110-118

Abstract

This study aims to determine the influence of financial literacy and demographics on the saving behavior of the millennial generation in Kupang City. This research was conducted by distributing online questionnaires and face-to-face to the millennial generation in Kupang City. In this study, as many as 100 respondents were used. The researcher used dummy variable regression. The results of the analysis show that financial literacy, dummy income 2 and 3, education level, age, and gender do not have a significant effect on the saving behavior of the millennial generation in Kupang City. Dummy income 1 has a significant effect on the saving behavior of the millennial generation in Kupang City.
THE IMPACT OF ATTITUDES, SELF-EFFICACY, AND SUBJECTIVE NORMS TOWARD Z-GENERATION’S INTENTION TO CHOOSE THE ACCOUNTING MAJOR Darmasaputra Alan; Saarce Elsye Hatane; Marchelio Eka Cipta Lieantono; Stefanie Stella Sonbay; Yonatan Tri Eka Putra
International Journal of Financial and Investment Studies (IJFIS) Vol 3 No 2 (2022): OCTOBER 2022
Publisher : Finance and Investment Program, School of Business and Management - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.3.2.119-130

Abstract

The purpose of this research is to examine the roles of family, advisor, and teacher as part of the subjective norm toward high school students’ intention to choose an accounting major at the higher education level. The high school students are the Z-generation. Employing partial lease analysis is to predict model parameters and results of several closed survey questions to validate statistical findings with a total of 351 Indonesian high school students as the respondents. These millennials’ intention to choose the accounting major is positively influenced by their attitudes toward the accounting profession; their self-efficacy; and their supporters (the subjective norms). There are three parties as the supporters of these students: parents, advisors, and teachers. The results imply that parents have the highest influence on the students’ decisions to join the accounting major in the university. However, the existence of advisors and teachers raises the students’ self-efficacy which replaces the position of parents’ opinion. This research contributes to planned behavior literature by comparing the roles of parents and teachers, including advisors, toward the students’ behavior. Moreover, the self-confidence of the students in their ability in accounting encourages them to choose the accounting major in their higher education.
THE EFFECT OF PERCEIVED RISK, SUBJECTIVE NORM, BRAND REPUTATION ON THE ATTITUDE AND THE INTENTION TO USE DIGITAL BANK SERVICES IN INDONESIA Hartono, Nicholas Bram Yoevanto; Jaolis, Ferry; Wijaya, Serli
International Journal of Financial and Investment Studies (IJFIS) Vol 4 No 1 (2023): APRIL 2023
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.4.1.1-8

Abstract

The penetration of internet use in the world and in Indonesia has increased quite significantly in the last five years. This growth has been supported by a number of factors forming positive attitudes (the attitude toward using digital banks) and driving the intentions to adopt digital banking services (the intention to use digital banks), such as perceived risk, brand reputation, and subjective norms. Samples were purposively selected in the age range of 25-76 and the responses to the self-administered questionnaire were processed using SEM-PLS. The results of the research demonstrate that only subjective norms are able to substantially alter the attitude toward and the intentions toward using digital banks. Attitude toward using a digital bank is a key process that partially explains the influence of brand reputation and subjective norms on the intention to use a digital bank.
FINANCIAL MANAGEMENT BEHAVIOR AMONG STUDENTS: THE INFLUENCE OF DIGITAL FINANCIAL LITERACY Clarence, Johann; Pertiwi, Dewi
International Journal of Financial and Investment Studies (IJFIS) Vol 4 No 1 (2023): APRIL 2023
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.4.1.9-16

Abstract

The goal of this study is to investigate how digital financial literacy affects the financial management behavior of students who use digital banking services in Surabaya. Primary data were obtained from questionnaires distributed to students in Surabaya. Using the SmartPLS 4 program, the partial least square structural equation modeling (PLS-SEM) technique was employed for data analysis in this study. The findings of this study indicate that students in Surabaya who utilize digital banking services have a substantial impact on their saving behavior when they are financially literate, digital financial literacy has a significant effect on the spending behavior of students who use digital bank services in Surabaya, digital financial literacy has a significant effect on investment behavior of students who use digital bank services in Surabaya. In short, this research can contribute to helping students in Surabaya to deepen their understanding of digital financial literacy.
THE EFFECT OF CELEBRITY ENDORSEMENT ON PURCHASE INTENTION Tarigan, Ruth Srininta; Tandung, Juliana Caesaria; Sutrisno, Ansell Kevyn; Viriyani, Viriyani
International Journal of Financial and Investment Studies (IJFIS) Vol 4 No 1 (2023): APRIL 2023
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.4.1.50-62

Abstract

The utilization of celebrity endorsement as a marketing strategy has gained widespread popularity across various industries, including the electronic industry. The objective of this study is to assess the correlation between celebrity endorsement and purchase intention, specifically through brand image. The analysis compares the relationship between variables at two levels: industry and brand, each at varying levels of maturity. Results indicate that at the industry level, brand image plays a positive mediating role in the relationship between celebrity endorsement and purchase intention, despite a negative direct relationship between the two. At the brand level, celebrity endorsement has a negative impact on purchase intention for Samsung, while exhibiting no significant effect on Vivo brand. However, brand image positively mediates the relationship between the two. Furthermore, multigroup analysis reveals that the difference in effect between the two brands is not statistically significant.

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