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INDONESIA
Jurnal Keuangan dan Perbankan
Published by Universitas Merdeka Malang
ISSN : -     EISSN : -     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Arjuna Subject : -
Articles 9 Documents
 1 
Search results for , issue "Vol 27, No 2 (2023): April 2023" : 9 Documents clear
The Effect of Firm Location on Corporate Dividend Policy: Study in Indonesia Capital Market Hakim, Muhammad Saiful; Liu, Chih Liang
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.9355

Abstract

This research explored the effect of firm location in Indonesia on corporate dividend policy. The location variable in this research was represented by firm location in Jakarta, which is the capital city of the state, and firm location on Java, where three largest cities in Indonesia are situated. The empirical results of this research indicated that firms that are situated on Java Island had a tendency to have lower payout ratios than their counterparts off the island. Meanwhile, there were no empirical proofs showing that firms in Jakarta had different payout ratios. This depicts that firms that are situated beyond a financial hub have the drive to pay more dividends to their shareholders, signaling the presence of greater information asymmetry for such firms. The result still consistent after considering several robustness tests include, using alternative proxy for dividend policy, exclude crisis period and exclude upper and lower group in research sample.DOI: 10.26905/jkdp.v27i1.9355  
Financial Literacy, Financial Fragility, and Financial Well-being Among Generation-Z University Students in Indonesia Jasen, Lie; Kim, Sung Suk
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.9402

Abstract

This research aims to investigate the correlation between financial literacy and financial fragility as well as financial well-being, along with identifying what factors influence these three financial components. We create an online questionnaire and distribute it to 317 university students that are part of Generation-Z students in Indonesia. The data analysis method uses the logistic regression model and marginal effect analysis. The research’s findings shows that educational background of father and the behavior of recording transactions are the factors influencing financial literacy. In addition, the level of financial fragility and financial well-being has been found to be affected by the father’s education, parent’s income, and investment experience. It is also proven that financially literate people are capable of withstanding unexpected financial crisis. Finally, the result shows that financial literacy is a key to achieving financial well-being at an early age. Therefore, policy maker should be aware of this situation and increase financial education for young generations.DOI: 10.26905/jkdp.v27i2.9402
The Influence of Variables That Can Affect Firm Value in the Banking Industry on the Indonesia Stock Exchange Arsyana, Adhyasta Cakra Whisnu; Hwihanus, Hwihanus
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.11010

Abstract

This study aims to analyze the influence of macro fundamentals and financial risk with capital structure, ownership structure, company characteristics, and financial performance as intervening variables on company value with indicators of stock price, earnings per share, and price to book value. This research is quantitative descriptive with a random sampling technique of ten samples from forty-seven banks in Indonesia in 2019-2022 listed on the Indonesia Stock Exchange. The analysis technique uses Partial least Square (PLS). The results showed that macro fundamentals have a significant effect on company value, company characteristics have a considerable impact on financial performance, financial risk has a significant effect on company characteristics, financial risk has a substantial effect on ownership structure, financial risk has a significant impact on capital structure, and capital structure has a significant effect on financial performance. In addition to the six hypotheses, it shows insignificant, so the company's value is influenced by macro fundamentals, financial risk, capital structure, company characteristics, ownership structure, and financial performance it just 33%. DOI: 10.26905/jkdp.v27i2.11010
CEO Narcissism and CEO Overconfidence on Firm Performance: The Role of Capital Structure as Mediating Variable Candy, Candy; Delfina, Delfina
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.9767

Abstract

Chief Executive Officers (CEO) have an important role in a company’s future, including the financial decisions of a company. Therefore, this study investigates the role of capital structure as a variable that mediates the effect of CEO narcissism and CEO overconfidence towards the performance of Indonesian infrastructure companies that are listed on the Indonesia Stock Exchange. This study obtained 39 companies as a study sample from 2017 to 2021 and analyzed them using the multiple linear regression method. This study found that capital structure is negatively affected by CEO narcissism, and positively affected by CEO overconfidence. Capital structure doesn’t affect Return on Asset (ROA) but negatively affects Return on Equity (ROE). CEO narcissism doesn’t affect firm performance as measured by ROA but positively affects ROE. Unlike the CEO overconfidence doesn’t affect either ROA or ROE. Moreover, the capital structure can mediate the impact of CEO narcissism and overconfidence on ROE, but it cannot mediate the impact on ROA. The results of this study contribute to academics as well as corporate knowledge as research regarding CEO narcissism and CEO overconfidence is uncommon and can be useful as a reference for companies.
Efficiency of Commercial Banks in Indonesia After the Covid-19 Pandemic Andriansyah, Fajar; Julia, Aan
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.9776

Abstract

The impact of the Covid-19 pandemic has caused the condition of the banking sector, both conventional and sharia, in Indonesia to be unstable due to the policy of limiting the Covid-19 pandemic period which affects the efficiency of bank performance on credit and financing activities disbursed as well as bank operations. This research aims to measure the level of efficiency of Conventional Commercial Banks (CCB) and Sharia Commercial Banks (SCB) in Indonesia after the Covid-19 pandemic and to find out whether or not there is a difference in efficiency between CCB and SCB after the Covid-19 pandemic. The method used in this study is a quantitative method with a Data Envelopment Analysis (DEA) analysis model and a different test with the inputs used, namely capital, assets, deposits, and operational costs, then the output consists of credit and financing realization, as well as operating income. The results showed that CCB achieved an average efficiency level of 98.8 percent and SCB achieved an average efficiency level of 98.6 percent, which means that both banks have reached high efficiency levels after the Covid-19 pandemic. Then CCB and SCB experienced fluctuations that tended to be the same, so that the results of different tests showed a probability value of 0.9138 and greater than 0.05, then H0 was accepted which means that there is significantly no difference between the efficiency of CCB and SCB after the Covid-19 pandemic. DOI: 10.26905/jkdp.v27i4.9776
Competition in Microfinance Institutions: Does Voluntary Saving Product Have a Moderating Role? Nisa, Chaerani; Viverita, Viverita; Chalid, Dony Abdul
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.11014

Abstract

This study investigates the effect of competition and the moderating role of voluntary savings on the outreach and sustainability of Microfinance Institutions (MFIs). The study uses data from 39 countries and 609 MFIs from 2004 to 2018. Unit of analysis in this study includes all MFIs in the Mix Market database. It uses Boone Indicator to measure competition. In addition, this study uses the random effects model to regress the model. We find that competition corresponds with decreased outreach and sustainability, but the value is insignificant.  The first research question is how competition affects MFIs’ outreach and sustainability, and the second research question is whether voluntary savings can work as a moderating variable in the relationship between competition and MFIs’ outreach and sustainability. Findings of this study provide guidance to MFIs and regulators regarding the ideal form for MFIs whether they should prioritize lending or expand their services to include voluntary savings. DOI: 10.26905/jkdp.v27i4.11014
Stock Selection and Market Timing Ability to Increase Indonesia's Equity Mutual Fund Performance Sihombing, Pardomuan; Manurung, Arifin Hasudungan; Zakchona, Elia
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.11047

Abstract

This study investigates the effect of stock selection, market timing, and fund size on the mutual fund’s performance with Covid-19 as a moderating variable. The sample data is limited to the listed conventional mutual funds supervised by the financial service authorization from 2014 to 2021, denominated in Rupiah currency, have a complete report, and have more than Rp 350 billion in fund equities. The sample data implements twenty-eight of the listed conventional mutual funds and is examined by a random method of Panel data multi-regression with moderated regression analysis (MRA). The result shows that market timing positively affects, and Covid-19 can enhance the effect of stock selection on the mutual fund’s performance. Meanwhile, stock selection, fund size, and Covid-19 do not affect the mutual fund’s performance. Covid-19 cannot moderate the effect of market timing and fund size on the mutual fund’s performance. Fund managers highlight market timing as a crucial indicator of obtaining more returns, and Covid-19 is the best moment to select and collect potential stock at affordable prices and trade them to get more returns after the crisis. DOI: 10.26905/jkdp.v27i4.11047
Size Management and Cost Stickiness On Rural Banks Johan, Ardilla Mahardhika; Prabowo, Ronny
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.9909

Abstract

This study examines the effect of a managerial incentive on the cost behavior of rural banks (BPR or Bank Perkreditan Rakyat) as a consequence of the enactment of FSA-R 5/2015. This study hypothesizes that rural banks with core capital less than IDR 3 billion will exhibit higher anti-sticky cost behavior. The regression analysis of a sample of 242 rural banks in Central Java Province in 2015-2019 empirically demonstrates evidence that rural banks with core capital less than IDR 3 billion reduce more costs when sales decline than those with core capital above IDR 3 billion, implying that these rural banks exhibit greater anti-sticky cost behavior. This cost behavior is motivated by a managerial incentive to increase their core capital by engaging in size management. This study also documents that rural banks with core capital below IDR 3 billion exhibit the highest anti-sticky cost behavior in 2015, when the regulation was initially implemented. Overall, this study underscores the importance of size management incentives in explaining firms' cost behavior.  DOI:10.26905/jkdp.v27i4.9909
The Effect of Cash Flow and CSR Moderated by Corporate Governance Wardana, Nofrizal Bagas; Mutyarawati, Herlita; Purwidyasari, Scholastica Meillia; Lestari, Henny Setyo; Leon, Farah Margaretha
Jurnal Keuangan dan Perbankan Vol 27, No 2 (2023): April 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i2.10685

Abstract

This study analyzes and examines the effect that cash flow has on financial distress and corporate social responsibility through moderation by the role of corporate governance. The sample of companies applied is manufacturing companies in Indonesia and listed on the Indonesia Stock Exchange with the period 2019-2021. The samples that fit the criteria were found to be 44 companies. The data obtained through purposive sampling and using secondary data from the annual report published by each company. The results of this study indicate that financial distress t-1 has a positive effect on financial distress significantly. corporate social responsibility does not affect financial distress. Corporate governance has a positive effect on financial distress significantly. Cash flow has a negative and significant effect on financial distress. Leverage has a negative and significant effect on financial distress. Asset tangibility does not affect financial distress. Corporate governance moderates the effect of corporate social responsibility on financial distress.DOI: 10.26905/jkdp.v27i4.10685

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