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Sautma Ronni Basana
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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 53 Documents
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THE EVALUATION OF BERMASA VILLAGE PROGRAM ON PLANNING AND BUDGETING FOR VILLAGE DEVELOPMENT IN MANDIRI VILLAGE, BANTAN SUB-DISTRICT Pebiona, Gressila; Fiddin, Fachroh
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.4.1.31-39

Abstract

This research aims to determine the evaluation of the BERMASA Village Program in planning and budgeting, compari­sons between Mandiri villages in Bantan sub-district, and the obstacles faced by village governments in Mandiri Village, Bantan sub-district, in formulating planning and budgeting for the Village Based Program. This is a qualitative descriptive study that uses primary and secondary data. The informants in this research consist of the Village Head, Village Secretary, Village Treasurer, Chair of the Village Consultative Body, and Chair of the Development Implementation Team. The research data was obtained from four Mandiri villages, namely Bantan Tengah, Selatbaru, Berancah, and Pasiran. The data collection techniques used in this study were interviews, observations, and documentation. The research findings show that the evaluation of the BERMASA Village Program in planning and budgeting for village development in Mandiri Village, Bantan sub-district, is in accordance with the Regulation of the Bengkalis Regent No. 74 of 2021 concerning Guidelines for Financial Aid Management, which specifically applies to the BERMASA Village Program, and the Decree of the Head of the Department of Community Empowerment and Village Affairs of Bengkalis Regency No. 073/KPTS/XI/2022 concerning Technical Guidelines for the Use of Financial Assistance, which specifically applies to the BERMASA Village Program. The village government always involves the community in the planning and budgeting process, and decision-making is always based on a deliberative system from the hamlet to the village level. The comparison between Mandiri villages for the received budget funds of IDR 1,000,000,000 consists of mandatory and optional activities. However, the obstacles faced by the village government are related to the implementation of determining activities and unforeseen conditions.
HUMAN RIGHTS DISCLOSURE ON PANDEMIC REPORTING PERIOD IN INDONESIA Tjondro, Elisa; Sugianto, Andrew; Allan, Allan; Kusuma, Richard
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.4.1.40-49

Abstract

The study aims to explain the effect of the pandemic reporting period, non-executive board, audit committee, and family ownership on increasing human rights disclosure. The pandemic of COVID-19 has created an economic pandemonium globally, including in Indonesia. Indonesia's independent agency of the FSA issued a public notice in March 2020, extending the reporting period to May 2020, extending two months. This extension has created an opportunity for companies to announce their human rights practice disclosure facing the oncoming turbulent times. UNGP-BHR and the Indonesian State Law No. 39 of 1999 about Human Rights are used as the disclosure index checklist. Our study uses 345 non-financial sectors listed on the Indonesia Stock Exchange (IDX) with an observation period of 2017 - 2019. The data analysis technique is panel regression. The result shows that the pandemic reporting period, the non-executive board, and the audit committee have positively affected human rights disclosure. The 2019 annual report recorded that human rights disclosure was higher in the pandemic reporting period than in the 2017 and 2018 annual reports. This research implies that companies consider the oncoming turbulent times caused by the pandemic in disclosing last year's human rights disclosure. The non-executive board and the audit committee have a spirit of UNGPs that encourages companies to implement human rights in their operations.
FAMILY OWNERSHIP MATTERS FOR INVESTORS IN INDONESIA'S MINING COMPANIES Purnamawati, I Gusti Ayu; Yuniarta, Gede Adi; Suwena, Kadek Rai; Heryanda, Komang Krisna; Hatane, Saarce Elyse
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.4.1.17-30

Abstract

This study aims to determine the effect of family ownership, financial performance, return on assets, return on equity, liquidity, and capital structure on market value. Secondary data was obtained based on annual reports and financial statements in mining companies listed on the IDX in 2016-2020 through Indonesia Stock Exchange (IDX). Data were obtained from the Bloomberg database. The method used to collect samples is purposive and consists of 35 mining companies in Indonesia. The panel data method was considered appropriate in this study, and multiple regression was used to examine the data. The results show that total assets and return on assets positively affect market value. The ratio of return on equity and liquidity in financial performance and capital structure has no significant effect on market value. The existence of family ownership is favourable for a firm’s market value. The sample in this study was limited to the manufacturing sector. This industry was chosen because its market value is quite volatile and family ownership is quite large. On average there are 40% of the total observations are family-owned companies. The interesting findings in this study are that family ownership does matter in gaining the investors’ attention.
GREEN SUPPLY CHAIN SYNERGY: HOW INTEGRATION AND RISK MANAGEMENT DRIVE FINANCIAL PERFORMANCE Lydia Christian; Sautma Ronni Basana; Zeplin Jiwa Husada Tarigan
International Journal of Financial and Investment Studies (IJFIS) Vol 5 No 1 (2024): OCTOBER 2024
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.5.1.1-12

Abstract

Companies strive to win the competition to maintain sustainability. This study aims to analyze the effect of supply chain integration on financial performance through green supply chain management and supply chain risk management in manufacturing companies in East Java. This study employs a quantitative approach, utilizing a causal research design, with 90 respondents from manufacturing companies that have implemented environmentally friendly practices. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (SmartPLS 4.0) to examine the relationship between research variables. The results indicate that supply chain integration affects both green supply chain management and supply chain risk management, but it does not directly impact financial performance. Green supply chain management and supply chain risk management have been shown to have a positive effect on financial performance. Manufacturing companies with supply chain integration do not directly influence financial performance; instead, they do so through well-managed green supply chains and by mitigating supply chain risk. The results of the study emphasize the importance of synergy between supply chain integration, green supply chain, and supply chain risk management in building a sustainable and resilient supply chain. The theoretical contribution of this research is to broaden the understanding of the relationship between integration, sustainability, and risk in the context of the manufacturing industry in developing countries. The practical contribution of the research results provides manufacturing managers with guidance to strengthen internal and external coordination in implementing green management and risk management, thereby improving operational efficiency and financial performance.
THE IMPORTANCE OF FINANCIAL FLOW DIGITALIZATION AND SUPPLY CHAIN INTEGRATION IN INCREASING COMPETITIVENESS THROUGH SUPPLY CHAIN RESILIENCE Hendry Sugianto Setiawan; Zeplin Jiwa Husada Tarigan
International Journal of Financial and Investment Studies (IJFIS) Vol 5 No 1 (2024): OCTOBER 2024
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.5.1.13-24

Abstract

This study aims to analyze the effects of digitalization of financial flows in the supply chain and supply chain integration on firm competitive advantage through supply chain resilience in manufacturing companies in East Java. This study uses a quantitative, survey-based approach. Data were collected through questionnaires from respondents working in medium- and large-scale manufacturing companies who met the criteria of having at least 3 years of work experience and understanding the company's supply chain activities. Data analysis was conducted using the Structural Equation Modeling-Partial Least Squares (SEM-PLS) method. The results show that digitalization of financial flows in the supply chain has a positive and significant effect on supply chain integration and resilience. However, digitalization of financial flows does not directly affect a firm's competitive advantage. Supply chain integration has been shown to affect supply chain resilience and a firm's competitive advantage. The research findings also show that supply chain resilience has a positive and significant effect on a firm's competitive advantage. These results confirm that digitalization of financial flows in the supply chain does not directly create competitiveness but rather serves as a supporting capability that strengthens supply chain integration and resilience. Thus, companies need to manage financial digitalization, supply chain integration, and supply chain resilience in an integrated manner to build a more sustainable competitive advantage.
THE EFFECT OF SUPPLY CHAIN COLLABORATION ON SUPPLY CHAIN PERFORMANCE THROUGH PRODUCTION TECHNOLOGY, NEW PRODUCT DEVELOPMENT, AND PRODUCT KNOWLEDGE Enny Novijanti; Hotlan Siagian
International Journal of Financial and Investment Studies (IJFIS) Vol 5 No 1 (2024): OCTOBER 2024
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.5.1.25-42

Abstract

Manufacturing companies are making a quick effort in anticipation of erratic business changes. Internal changes were made to adapt to the company's external conditions. Partnerships are needed to connect internal and external parties through supply chain collaboration, thereby improving supply chain performance and increasing competitiveness. Data collection from 99 manufacturing companies. The hypothesis was tested using partial least squares software. The data processing results indicate that supply chain collaboration positively influences product technology, product knowledge, new product development, and supply chain performance. The company's product technology has a positive impact on improving product knowledge, new product development and supply chain performance. The results of the hypothesis test also show that supply chain performance is influenced by product knowledge and new product development. The contribution of the theory of research results to enrich supply chain theory in producing product technology, product knowledge, and company competitiveness. A practical contribution is to provide guidance for company managers to carry out supply chain collaboration to improve performance and competitiveness.
THE INFLUENCE OF VENDOR CAPABILITY ON SUPPLY CHAIN COLLABORATION AND FIRM PERFORMANCE WITH SUPPLIER INTEGRATION AS VARIABLE MODERATING Rosalia Maria da Silva; Zeplin Jiwa Husada Tarigan; Hotlan Siagian
International Journal of Financial and Investment Studies (IJFIS) Vol 5 No 1 (2024): OCTOBER 2024
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.5.1.43-55

Abstract

Fuel supply shortages and price fluctuations pose significant challenges to the sustainability of fuel station business performance. These conditions require companies to strengthen vendor capabilities, integrate with supply chain partners, improve inventory management, and collaborate with them. This study aims to analyze the influence of vendor competency on vendor-managed inventory and supply chain collaboration, and the influence of vendor-managed inventory and supply chain collaboration on business performance, with supplier integration as a moderating variable. This study used a quantitative, survey-based approach. Data were collected via a Google Form questionnaire from 70 permanent fuel station employees. The sampling technique used was purposive sampling, while data analysis was conducted using Partial Least Squares-Structural Equation Modeling (PLS-SEM). The results show that vendor competency has a positive and significant effect on vendor-managed inventory but not on supply chain collaboration. Supplier integration has a positive and significant effect on vendor-managed inventory and supply chain collaboration. However, supplier integration moderates the relationships between vendor competency, vendor-managed inventory, and supply chain collaboration in a negative direction. In addition, vendor-managed inventory and supply chain collaboration have been shown to have a positive and significant effect on business performance. These findings suggest that improvements in fuel station business performance are more effectively achieved by strengthening inventory management systems, integrating information, and collaborating across the supply chain, rather than simply improving individual vendor competencies.
THE INFLUENCE OF COUNTRY-OF-ORIGIN SUSTAINABILITY PERCEPTION ON CONSUMER PURCHASE INTENTION FOR CHINESE ELECTRIC VEHICLES IN INDONESIA Nadia Adeline; Alvincia Tamara; Ruth Srininta Tarigan
International Journal of Financial and Investment Studies (IJFIS) Vol 5 No 1 (2024): OCTOBER 2024
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.5.1.54-62

Abstract

This study examines whether a country's environmental reputation influences consumer decisions to purchase its electric vehicles (EVs), focusing on Indonesian consumers' perceptions of Chinese EVs. Specifically, it investigates how perceptions of China's sustainability efforts affect purchase intention through the mediating roles of perceived quality and perceived environmental benefit. A quantitative approach was employed, surveying 218 Indonesian consumers familiar with or considering Chinese EVs using a five-point Likert scale questionnaire. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal that positive perceptions of China's sustainability initiatives significantly enhance both perceived quality and perceived environmental benefit of Chinese EVs. However, while both factors improve with a stronger green reputation, only perceived quality directly and substantially increases purchase intention; perceived environmental benefit, though valued by consumers, does not independently drive buying decisions. This suggests that while sustainability matters to buyers, product quality remains the decisive factor in purchasing choices. Future research could explore different cultural contexts and employ mixed-methods approaches to gain deeper consumer insight.
THE INFLUENCE OF LITERACY, TOLERANCE, AND EXPERIENCE ON INVESTMENT DECISIONS OF GENERATION Z IN SURABAYA Kevin Halim; Leonardo Christian Susanto; Sautma Ronni Basana
International Journal of Financial and Investment Studies (IJFIS) Vol 6 No 1 (2026): APRIL 2026
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.6.1.1-10

Abstract

The increasing participation of Generation Z in the Indonesian capital market needs to be balanced with the ability to make rational investment decisions in accordance with their risk profile. This study aims to analyze the influence of financial literacy, risk tolerance, and investment experience on the investment decisions of Generation Z investors in Surabaya. The study used a quantitative explanatory approach with a purposive sampling technique. The study respondents consisted of 225 Generation Z investors aged 18–29 years, domiciled in Surabaya, owning shares in the capital market, and having a customer fund account. Data were collected through an online questionnaire and analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results showed that financial literacy had no significant effect on investment decisions. Risk tolerance had a positive and significant effect on investment decisions. Investment experience also had a positive and significant effect. These three variables explained 33.0% of the variation in investment decisions. These findings indicate that Generation Z investment decisions are more determined by readiness to face risks and direct experience in the capital market than by mastery of basic financial concepts. Therefore, investment education programs need to focus on fundamental analysis, technical analysis, investment simulations, and portfolio risk management.
THE INFLUENCE OF INFORMATION TECHNOLOGY USE ON DIGITAL PAYMENT USE WITH SOCIAL MEDIA COMMUNITY AS A MODERATING VARIABLE Maria Natalia Damayanti Maer
International Journal of Financial and Investment Studies (IJFIS) Vol 6 No 1 (2026): APRIL 2026
Publisher : Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijfis.6.1.11-19

Abstract

This study examines the influence of information technology use on digital payment use, with social media communities as a moderating variable. A quantitative approach was used with primary data collected from 202 Surabaya residents who had used mobile payments for shopping and participated in social media communities. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that information technology use has a positive relationship with digital payment use, although the effect is significant only at the 10% level. Social media communities have a stronger positive relationship with digital payment use. The interaction between information technology use and social media communities is also positive and significant at the 10% level, providing cautious support for the moderating effect. These findings suggest that the use of digital devices, internet access, service applications, and transaction information can support digital payment use, particularly when users also obtain information, recommendations, and assistance through social media communities. For businesses and service providers, technology development should therefore be supported by credible communication and community engagement. The study contributes to the discussion of digital payment use by showing that technological use and the social environment may work together in shaping user behavior.

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