Articles
Analisis Kinerja Keuangan Pada Dana Pensiun Bank BJB
Endang Ruchiyat;
Disman Disman;
Nugraha Nugraha;
Maya Sari
BRILIANT: Jurnal Riset dan Konseptual Vol 6, No 2 (2021): Vol 6, No 2 (2021): Volume 6 Nomor 2, Mei 2021
Publisher : Universitas Nahdlatul Ulama Blitar
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DOI: 10.28926/briliant.v6i2.597
Kinerja keuangan dana pensiun sangat penting untuk diukur sebagai pertanggungjawaban manajemen kepada berbagai pihak yang berkepentingan.. Penelitian ini bertujuan menganalisis kinerja keuangan dana pensiun melalui Program Pensiun Manfaat Pasti (PPMP) untuk peserta dan pihak yang berhak. Berdasarkan survei yang dilakukan oleh Otoritas Jasa Keuangan (OJK) pada tahun 2013 dan 2016, tingkat pemahaman masyarakat Indonesia terhadap dana pensiun meningkat dari 7,13% tahun 2013 menjadi 10,91% tahun 2016, demikian juga tingkat kepesertaannya meningkat dari 1,53% tahun 2013 menjadi 4,66% tahun 2016. Peserta dana pensiun di Indonesia hanya membayar iuran untuk dana pensiun rata-rata sekitar 3% dari penghasilannya, yang sangat kecil jika dibandingkan dengan Malaysia yang sebesar 12%. Metode penelitian ini menggunakan deskriptif kuantitatif dengan data primer dan sekunder untuk periode 2013 - 2018. Pengukuran kinerja keuangan dilakukan dengan menggunakan analisis tren, analisis profitabilitas, analisis efisiensi, dan pertumbuhan dana pensiun. Hasil penelitian menunjukkan bahwa kinerja keuangan Dana Pensiun bank BJB tumbuh dengan baik dari tahun ke tahun, dan rasio kecukupan dana berada dalam keadaan Dana Terpenuhi dan menunjukkan kualitas pendanaan Tingkat I
Interaction between Gender and Cognitive Factor toward Investment Decision
Tiar Lina Situngkir;
Nugraha Nugraha;
Disman Disman;
Yayat Supriyatna
Jurnal Keuangan dan Perbankan Vol 26, No 2 (2022): APRIL 2022
Publisher : University of Merdeka Malang
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DOI: 10.26905/jkdp.v26i2.7021
This study aims to analyze whether there is an influence of irrational behaviour of individual investors in determining investment decisions. The irrational behaviour studied in this article are overconfidence and risk aversion. To increase the complexity, the moderating variables of gender and income level are used to sharpen the influence on investment decisions. The data used are primary data collected from 161 individual investor respondents. The data available in this study were analysed using the Moderated Regression Analysis Technique. From the data processing results, it was found that irrational behaviour proxied by overconfidence and risk aversion has an influence on investors in determining investment decisions. It is proven that risk aversion interacts with gender in influencing investment decisions. At the same time, gender does not interact with the independent variable in influencing investment decisions. JEL : G4, G41
The Impact of Funding Liquidity on European Bank Risk-Taking Behaviour
Yasir Maulana;
Nugraha Nugraha;
Maya Sari;
In Min
Jurnal Akuntansi dan Pajak Vol 22, No 2 (2022): JAP : Vol. 22, No. 2, Agustus 2021 - Januari 2022
Publisher : ITB AAS INDONESIA
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DOI: 10.29040/jap.v22i2.3867
Funding liquidity as the bank ability to generate funds by disbursing assets to meet short-term financial liabilities is very important because of bank intermediary activities. This study conduct to measure the effect of funding liquidity on bank risk-taking behaviour. We used the panel data regression method for data processing with Pooled Least Square (PLS), Fixed Effect Model (FEM), and Random Effect Model (REM). As this study uses bank data from different countries as well as banking and regulatory conditions that different over time, it is predicted that regression parameters are not constant between time and sample. The data period of public-listed commercial bank in Europe are from 2004 to 2016. The result of this study shows that the problem of low profitability in European banks may trigger banks to take bigger risks to achieve higher profits. These results indicate that European banks with higher levels of funding liquidity tend to have more aggressive risk-taking behavior in the future. Bank risk-taking behavior in response to increased liquidity was generally lower during the global financial crisis period. This could be due to increased risk aversion and a tighter monitoring process during this period.
PERTUMBUHAN PENJUALAN DAN UKURAN PERUSAHAAN TERHADAP STRUKTUR MODAL PERUSAHAAN BARANG KONSUMSI YANG TERDAFTAR PADA BURSA EFEK INDONESIA PERIODE 2018-2020
Mirza Abdi Khairusy;
Nugraha Nugraha;
Ahmad Johan;
Mayasari Mayasari
Progress: Jurnal Pendidikan, Akuntansi dan Keuangan Vol 5 No 1 (2022): Progress: Jurnal Pendidikan Akuntansi dan Keuangan
Publisher : FKIP, Universitas Banten Jaya
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DOI: 10.47080/progress.v5i1.1622
In research on sales growth and company measurements on the capital structure of goods companies, the aim is to identify the effect of the growth variable of each sales and the size variable in each company on the capital structure variable. This research is included in the type of causal and population research in the study, namely companies for consumer goods (Customer Good Industry) listed on the Indonesia Stock Exchange for the period 2018 - 2020 as many as 23 companies. The data used are secondary data using multiple regression analysis, and partial test (t test) using the SPSS (Statistical Package for the Social Sciences) 26 for windows program. The results of the study partially that the Sales Growth Variable has a significant positive effect on the Capital Structure Variable, the Size Variable in the company which has a significant effect on the Capital Structure Variable so that simultaneously on the sales growth variable and the Company Size Variable which affects the Capital Structure Variable.
DIVIDEND POLICY, PROFITABILITY AND CAPITAL TOWARDS BANKING VALUE
Ernawati Ernawati;
Nugraha Nugraha;
Maya Sari
JURNAL MANAJEMEN DAN BISNIS SRIWIJAYA Vol 18, No 3 (2020): Volume 18, Nomor 3, Tahun 2020
Publisher : Program Studi Magister Manajemen FE Unsri
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DOI: 10.29259/jmbs.v18i3.13178
ABSTRACTResearch purpose – This study aims to test the influence of dividend policy, profitability, and capital on banking value. This research was conducted on banking financial sector companies included in the Indonesia Stock Exchange LQ45 index for the period 2015-2019. Methods – Samples were selected using a non-probability sampling method with purposive sampling. Data analysis with multiple linear regression techniques. Result – The results showed that dividend policy has no significant influence on the value of the company. Banking profitability also has no influence on the value of the company. Meanwhile, banking capital has a positive and significant influence on the company's value. The success of the company depends largely on the company's ability to raise capital, because insufficient capital will hinder the development of the company. Banking capital that continues to increase above the average banking standard shows the ability of banking capital is very good, this means that the ability of existing capital in the banking system is able to cover possible losses in credit activities and trading of banking securities. Limitations of research - There are two proxies, dividend policy and profitability policies that have not given evidence of the company's value and the small value of R2 is the material for further research. Originality - This study discusses the function of financial management as measured by financial decisions, and discussions on banks listed in LQ45 with variable testing separately.
Hubungan Sentimen Investor, Volume Perdagangan dan Kebijakan Moneter Pada Perkembangan Pasar Modal di Indonesia
Putri Fariska;
Nugraha Nugraha;
Mochamad Malik Akbar Rohandi
Jurnal Manajemen Bisnis Performa Vol 17, No 1 (2020)
Publisher : Universitas Islam Bandung
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DOI: 10.29313/performa.v17i1.6670
ABSTRACT The growth of the capital market greatly influences a positive or negative sentiment that can come within the country or abroad which leads to a policy of a country. The purpose of this study is to determine the relationship between investor sentiment, trade volume and monetary policy taken by the government on the development of the capital market in Indonesia during the last ten years. Using the granger causality test in Vector Autoregression (VAR) and Impulse Response Function (IRF) analysis modeling to capture dynamic and casual relationships between variables in the 2011-2020 period. From the results of this study it is known that investor sentiment and monetary policy have an influence on trading volume. capital market in Indonesia where the relationship is only one way. Another finding that resulted is that the response received by trading volume if a shock occurs to investor sentiment is convergent, initially the response given during the shock will eventually disappear and will not leave a permanent impact. However, if a shock occurs in monetary policy, the response to trading volume will be negative and convergent, while investor sentiment will be positive and convergent. Keywords: Investor Sentiment, Trading Volume, Monetary Policy, Capital Market ABSTRAK Perkembangan pasar modal sangat berpengaruh pada suatu sentimen positif atau negatif yang dapat berasal dari dalam negeri maupun luar negeri yang mengarah pada suatu kebijakan suatu negara. Tujuan dari penelitian ini adalah untuk mengetahui hubungan sentimen investor, volume perdagangan dan kebijakan moneter yang diambil pemerintah terhadap perkembangan pasar modal di Indonesia selama sepuluh tahun terakhir. Menggunakan tes uji kausalitas granger pada pemodelan analisis Vector Autoregression (VAR) dan Impulse Response Function (IRF) untuk menangkap hubungan dinamik dan kasual antar variabel pada periode 2011 - 2020. Dari hasil penelitian ini diketahui bahwa sentimen investor dan kebijakan moneter mempunyai pengaruh pada volume perdagangan pasar modal di Indonesia dimana hubungan yang terjadi hanya bersifat searah. Temuan lainnya yang dihasilkan adalah respon yang diterima oleh volume perdagangan jika terjadi guncangan pada sentimen investor adalah bersifat konvergen, pada awalnya respon yang diberikan selama masa guncangan pada akhirnya akan menghilang dan tidak akan meninggalkan dampak yang permanen. Namun apabila terjadi guncangan pada kebijakan moneter maka respon volume perdagangan akan bersifat negatif dan konvergen sedangkan sentimen investor akan bersifat positif dan konvergen. Kata kunci: Sentimen Investor, Volume Perdagangan, Kebijakan Moneter, Pasar Modal
ANALYSIS IMPLEMENTATION OF NATIONAL FINANCIAL INCLUSION STRATEGY CONNECTED WITH SHARIA FINANCIAL INCLUSION
munir nur komarudin;
Nugraha Nugraha;
Dikdik Harjadi;
Fany Oktaviani
Indonesian Journal Of Business And Economics Vol 2, No 2 (2019)
Publisher : Universitas Kuningan
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DOI: 10.25134/ijbe.v2i2.2377
ABSTRACT The purpose of this research is to know the effect of financial education, community property rights, intermediation facilities and financial distribution channels, financial services to the government sector and consumer protection to Islamic financial inclusions. The sampling technique useda random sampling method and thesample isobtained 100 respondents. The independent variables (x) include: financial education, communityproperty rights, intermediation facilities and financial distribution channels,financial services in the government sector and consumer protection. This research used a quantitative approach with descriptive and verification methods and methods ofdata analysis using multiple linear regression analysis.The result of this study indicate that the implementation a five pillars of SNKI (The national strategy of financial inclusion) has a positiveand significant impact on Islamic financial inclusion, it’s mean that if the implementation a five pillars of SNKI had increased automatically the Islamic financial inclusion would be increased. Key Words: Financial Education, Community Property Rights, Intermediation Facilities and Financial Distribution Channels, Financial Services to the Government Sector Consumer Protection and Islamic Financial Inclusion
PERILAKU KEUANGAN IBU RUMAH TANGGA PENGGUNA E-WALLET OVO DI KECAMATAN KEDAWUNG CIREBON
Indri Ferdiani Suarna;
Nugraha Nugraha;
Maya Sari
Jurnal Ilmiah Manajemen Ubhara Vol 3, No 2 (2021): JURNAL ILMIAH MANAJEMEN UBHARA
Publisher : Prodi Magister Manajemen Fakultas Ekonomi dan Bisnis Universitas Bhayangkara Jakarta Raya
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DOI: 10.31599/jmu.v3i2.977
ABSTRAK Era digitalisasi dengan perkembangan teknologi dan informasi yang cepat saat ini, berdampak pada bidang perekonomian salah satunya dilihat dari sistem transaksi yang mengalami pergeseran alat transaksi tunai menjadi non-tunai atau transaksi uang elektronik. Perilaku pengelolaan keuangan mengacu pada tingkat kemampuan keuangan pengelolaan harian pribadi seseorang mulai dari perencanaan, penganggaran, pemeriksaan, pengeloaan, penyimpanan, pencarian, serta pengendalian. Rendahnya tingkat pengetahuan keuangan di Indonesia masih menjadi salah satu penghambat dalam perkembangan E-wallet diantaranya aplikasi OVO. Pengalaman dalam mengelola keuangan dengan menggunakan OVO pun masih perlu dipertimbangkan . Penelitian ini secara khusus memiliki tujuan untuk mengetahui pengaruh pengetahuan keuangan,pengalaman keuangan terhadap perilaku keuangan ibu rumah tangga pengguna OVO di kecamatan Kedawung Cirebon. Metode penelitian dengan kuantitatif dan analisis deskriptif. Penelitian ini dilakukan kepada 80 orang responden pengguna OVO dengan menggunakan teknik non-probability sampling melalui purposive sampling dengan SPSS 24 .Hasil penelitian menyatakan bahwa pengetahuan keuangan berpengaruh secara positif dan significan terhadap perilaku keuangan ,pengalaman keuangan berpengaruh perilaku keuangan , pengetahuan keuangan dan pengalaman keuangan berpengaruh secara bersamaan terhadap perilaku keuangan. Kata Kunci: Pengguna OVO , Ibu Rumah Tangga , Pengetahuan Keuangan,Pengalaman Keuangan Dan Perilaku Keuangan
Portfolio Asset Allocation Decisions: A Meta-Analysis
Gusni Gusni;
Nugraha Nugraha
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 4 No. 2, June 2020
Publisher : Faculty of Economics, Universitas Sriwijaya
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DOI: 10.29259/sijdeb.v4i2.95-102
Portfolio asset allocation decisions are not passive as mention in the modern portfolio theory, because many factors that can influence it. The purpose of this study is to explain the portfolio asset allocation decisions based on the results of previous research studies by using a meta-analysis approach. The meta-analysis was carried out from a systematic review of the literature review. This study uses secondary data gathered from the various reputable journal by using 14 relevance research that has been published for the period of 2005 – 2019. The result explains that various empirical evidence of many studies on portfolio asset allocation decisions systematically can provide an overview of research trends and types of research conducted by researchers. Most of the studies are quantitative research, use a more behavioral approach, and provide new insights related to factors that can influence investors in making portfolio asset allocation decisions
Return on Assets, Likuiditas dan Ukuran Perusahaan Terhadap Struktur Modal
Marwan Effendi;
Nugraha Nugraha
Agregat: Jurnal Ekonomi dan Bisnis Vol. 2 No. 1 (2018): Maret
Publisher : Universitas Muhammadiyah Prof. DR HAMKA.
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The purpose of this research is to know the effect of ROA, Liquidity and Firm Size on Capital Structure of Micro Finance Institution Company (LKM) registered in Otoritas Jasa Keuangan in 2016 up to Mei 2017. The object of research which then operationalized consists of Return On Assets (ROA), Liquidity and Firm Size as independent variable and Capital Structure is operated as dependent variable. The method in this research is quantitative verification. The population used is a conventional Microfinance Institution (LM) registered in the Otoritas Jasa Keuangan in 2016 up to May 2017 of 147 companies, and the financial data of that period from all populations is used for research samples. Data analysis technique using multiple linear regression statistic with simultaneous significance test with F test. The result of F Test statistic shows that regression model can be used to draw conclusion and predict about ROA, Liquidity, Firm Size to CapitalStructure in the future. Hypothesis test results accept that ROA, Liquidity and Company Size negatively affect the Capital Structure.