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Perdana Wahyu Santosa
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Research of Finance and Banking
Published by Santoso Academy Network
ISSN : 2987288X     EISSN : 29872871     DOI : https://doi.org/10.58777/rfb
Core Subject : Economy,
Economics, Econometrics & Finance
The Research of Finance and Banking RFB is an open access and peer review journal that publishes theoretical and empirical research articles, review papers, and case studies on all major financial and banking topics. The journals mission is to offer a forum for growing scholarly research on corporate finance, banking, financial institutions, and the money and capital markets in which they operate. The Journal emphasizes theoretical advancements and their application, empirical, practical, and policy oriented research in finance and banking and other local and international financial institutions and markets.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 5 Documents
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Search results for , issue "Vol. 1 No. 2 (2023): October 2023" : 5 Documents clear
The Effect of Good Corporate Governance on Financial Distress Fadila Angraini
Research of Finance and Banking Vol. 1 No. 2 (2023): October 2023
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rfb.v1i2.116

Abstract

This research aims to examine the influence of Good Corporate Governance as proxied by the Board of Directors, Independent Commissioners, Audit Committee, and Institutional Ownership on Financial Distress partially or simultaneously. The research method used is quantitative and uses secondary data, namely service companies, one of which is the transportation sector listed on the Indonesia Stock Exchange. The sample used was 7 issuers, and the results were obtained using a purposive sampling method. The analytical method used is multiple linear regression analysis techniques with Spss Version 25 software. This research shows that overall, the size of the Board of Directors, Independent Commissioners, Audit Committee, and Institutional Ownership variables partially or simultaneously influence Financial Distress. This research can guide companies to understand the importance of mitigating financial risks by implementing strong GCG principles. It can include debt management, monitoring financial policies, and making wise investment decisions. The implications of this research can guide investors and creditors in assessing the risks and return potential associated with well-managed companies in terms of governance. The implication is that external stakeholders can use this information to support their investment decisions.
Comparative Analysis of Financial Performance before And during Covid-19 Pandemic Astuti, Muthia; Simon, Zainal Zawir
Research of Finance and Banking Vol. 1 No. 2 (2023): October 2023
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rfb.v1i2.131

Abstract

This study assesses the financial performance of technology sector firms listed on the IDX by utilizing various financial ratios, including Return on Assets, Total Assets Turnover, Current Ratio, Debt to Equity Ratio, and Sales Growth. The study employs a quantitative approach with multiple regression analysis, and the research relies on secondary data gathered from financial reports spanning from the third quarter of 2018 to the second quarter of 2021. The sample selection method employed purposive sampling, resulting in a sample size of nine companies. The normality of the data was assessed using the Kolmogorov-Smirnov method, revealing a non-normal distribution. As a result, the non-parametric Wilcoxon Signed Rank test was applied. The findings indicate significant disparities in the financial performance of technology sector companies listed on the IDX before and during the Covid-19 pandemic, particularly in metrics such as Total Assets Turnover, Current Ratio, Debt to Equity Ratio, and Sales Growth. However, the Return on Assets variable did not significantly differ before and during the Covid-19 pandemic. These insights can be valuable for stakeholders such as investors, creditors, and regulators in comprehending the associated risks and potential impacts when considering investment or extending credit to these entities
Do Environmental Management Systems, Environmental Performance, and Firm Size Influence Greenhouse Gas Emission Disclosures? Wulansari, Neng Elga; Maysaroh Chairunnisa, Nurlaila; Susanti, Neneng Lasmita
Research of Finance and Banking Vol. 1 No. 2 (2023): October 2023
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rfb.v1i2.136

Abstract

This study aims to investigate whether the variables related to environmental management systems, environmental performance, and company size impact the reporting of greenhouse gas emissions. This research adopts a quantitative approach, utilizing secondary data from annual and sustainability reports selected through purposive sampling. Information was gathered from official company websites and the Indonesian Stock Exchange (BEI). The study encompasses 68 samples from an unbalanced panel data set of 28 companies from 2019 to 2021. The analytical methodology employed in this research involves panel data regression analysis. The results indicate that environmental management system variables and company size do not significantly influence greenhouse gas emission disclosures. However, it was observed that company size does have a notable positive effect on reporting greenhouse gas emissions. These findings offer valuable insights for governments and other institutions aiming to enhance environmental policies and foster improved greenhouse gas emission transparency within the industrial sector.
Comparing Black-Scholes and GARCH Models in Long Strangle Option Strategies for LQ45 Index Hendrawan, Riko; Safar, Abdul
Research of Finance and Banking Vol. 1 No. 2 (2023): October 2023
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rfb.v1i2.137

Abstract

This study compared the Black-Scholes and GARCH models in a long strangle strategy applied to the LQ45 index using closing price data from 1998 to 2021. It aimed to assess the benefits, calculate returns during crises and non-crisis periods, and evaluate performance through Average Mean Square Error (AMSE). The Black-Scholes model consistently outperformed GARCH in one- and three-month options. One-month options had an average return of 28.64%, and three-month options, 43.31%. In crises, Black-Scholes delivered average profits of 43.36% for one-month and 45.14% for three-month options. In non-crisis conditions, profits averaged 26% for one-month and 42.84% for three-month options. Model performance varied by option type and market context. Black-Scholes excelled in one-month call options (1.268% error), while GARCH performed better in one-month put options (1.0981% error). For three-month options, GARCH outperformed in call options (1.270% error), and Black-Scholes dominated put options (3.117% error). In summary, the choice between models should consider market conditions, favoring GARCH during crises and Black-Scholes in non-crisis scenarios.
Examining Stock Return Drivers in Garment and Textile Firms on the Indonesia Stock Exchange Sihombing, Pardomuan; Melitana, Cyndi Loisa; Oktavia, Dinda
Research of Finance and Banking Vol. 1 No. 2 (2023): October 2023
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rfb.v1i2.140

Abstract

The problem of this research was entering the era “New Normal” has become an opportunity for economic players to invest in the capital market. Due to the unstable economic conditions, Therefore, investors need to conduct fundamental analysis in macro and micro economics so that their investments can obtain high stock returns the objective of this research was analysis of Factors Affecting Stock Returns with Firm Sizeas Moderating Variable in the Garment and Textile Industry Listed on the Indonesia Stock Exchange (IDX) 2016-2020. The methodology of this research was the collection of data using the scondary data by annual report firm Garment and Tekstil in BEI. The samples used in research as many as 16 firm with technique purposive sampling. The results of the study showed that there is no effect significant of ROE, DER, DER onstock returns. There is a significant negative effect of Interest Rates and Firm Size on stock returns. Variable Firm Size was also not proven to play a moderating role in the influence of ROE, DER, and CR, but Firm Size was able to significantly moderatinge the effect of interest rates on stock returns of garment and textile companies 2016-2020.

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