Rohmad Fuad Armansyah
Sekolah Tinggi Ilmu Ekonomi Perbanas Surabaya

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A Study Of Investor Financial Behavior on Online Trading System in Indonesian Stock Exchange: E-Satisfaction, E-Loyalty, And E-Trust Rohmad Fuad Armansyah
Journal of Economics, Business, & Accountancy Ventura Vol 23, No 1 (2020): April - July 2020
Publisher : STIE Perbanas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v23i1.2176

Abstract

The online trading system allows traders to enter orders directly into the system via electronic media immediately and directly. This condition will affect the level of customer satisfaction while increasing customer loyalty. This research examines financial behavior in terms of satisfaction, trust, and loyalty in the use of an online trading system in the Indonesian stock exchange. Data was collected through an electronic questionnaire for the Indonesia Stock Exchange investors using convenience sampling. As many as 255 respondent data were obtained and processed using PLS-SEM (Structural Equation Modeling-Partial Least Square) approach. The results show that financial behavior, e-trust, e-satisfaction have an effect on the creation of e-loyalty of online trading system users in the Indonesia Stock Exchange. This suggests that the online trading system providers must improve their system's perceived satisfaction, including the features of advice and support in making purchasing decisions.
Modeling the Financial Crisis in Indonesia Rohmad Fuad Armansyah; Moch Bisyri Effendi
Journal of Economics, Business, & Accountancy Ventura Vol 20, No 2 (2017): August - November 2017
Publisher : STIE Perbanas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v20i2.1127

Abstract

The purpose of this paper is to construct the model of the financial crisis in Indonesia through exchange market pressure index approach by using Multivariate Adaptive Regression Spline. This research used secondary data from the Central Bank of Indonesia from 2005 to 2014, consisting  of 120 observations. The dependent variables is  exchange market pressure index, and the independent variables consist of 11 macro economics variable. This research used the MARS 2.0 software, to build the model. The results shows 53.9% accuracy model of MARS and it obtains the smallest value of GCV that is 1.84, and the international interest rate of US Prime Rate is the most influential variable towards the exchange market pressure index. The results also provide additional knowledge regarding the indicators that can lead to the financial crisis based on the model established by the MARS approach. The implication is that the variable of international interest rate of US Prime Rate through the MARS approach can be an early warning system against the crisis that probably will happen, especially in Indonesia.