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Innovation Driven Enterprise, Sustainable Business and Firm Financial Performance Rijanto, Arief
The Asian Journal of Technology Management (AJTM) Vol 11, No 1 (2018)
Publisher : School of Business and Management Institut Teknologi Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12695/ajtm.2018.11.1.2

Abstract

Abstract Innovation should be followed by profitable commercialization to have a sustainable business. Teece (1986) identified that it is often not the innovator who introduces a new process, product or service who profits the most from an innovation, but instead suppliers, cooperators, customers and competitors. In emerging markets, especially in Indonesia, it is challenging to do innovation due to the lack of infrastructure. This study explores innovation-driven enterprise relationships with firm financial performance measures by firm profitability. To identify the innovation-driven enterprise financing capabilities and innovation, the study used company age, R&D expense, sales, sales growth, debt ratio and retained earnings as independent variables. Firm profitability performance was measured by return on assets (ROA). R&D expenses of innovation-driven enterprises had a positive correlation with firm financial performance. Sales and retained earnings had a positive correlation with R&D expense. However, company age, debt ratio and sales growth had a weak negative correlation with corporate innovation activities. Retained earnings had a positive correlation and was the biggest determinant of firm profitability. It was shown that innovation-driven enterprises in Indonesia are financing their innovation with retained earnings (internal financing) and not debt (external financing).Keywords: Innovation, sustainable business, financial performance, R&D expense, internal financing
Dampak Rumor Terhadap Volatilitas Harga Saham Studi Empiris Di Bursa Efek Indonesia Rijanto, Y. Arief
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 3, No 3 (2010): December 2010-March 2011
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1098.473 KB)

Abstract

Financial Flexibility in Highly Regulated Market: Indonesian Telecommunication Case during Tariff Pricing War Rijanto, Y. Arief
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 8, No 2 (2015): August-November 2015
Publisher : Universitas Prasetiya Mulya

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Abstract

Financial Flexibility in Highly Regulated Market: Indonesian Telecommunication Case during Tariff Pricing War Y. Arief Rijanto
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 8, No 2 (2015): August-November 2015
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.8.2.1142

Abstract

THE IMPACT OF ESG PERFORMANCE TO FIRM PERFORMANCE AND MARKET VALUE David Junius; Adriel Adisurjo; Y. Arief Rijanto; Yang Elvi Adelina
Jurnal Aplikasi Akuntansi Vol 5 No 1 (2020): Jurnal Aplikasi Akuntansi, Oktober 2020
Publisher : Program Studi Diploma III Akuntansi Fakultas Ekonomi dan Bisnis Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/jaa.v5i1.84

Abstract

This research aims to investigate the impact of ESG performance on firm performance and market value. Total samples used are 271 listed companies (1355 firm-years observations) in five years period (2013-2017), which consisted of four ASEAN countries (Indonesia, Malaysia, Singapore, and Thailand). This study is analyzed using multiple regression analyses with the random-effect model and descriptive statistic. The independent variable is ESG Score; the dependent variables are three performance indicators (Return on Assets, Return on Equity, and Tobin’s Q) and Price-Earnings ratio; the control variables are firm size, firm's age, financial leverage, and industry. This research contributes to broadening the scope of the literature review regardings ESG performance by analyzing it on developing countries and also by using rarely used dependent variables, market value. The finding in this research is there is no significant influence from ESG Score to Firm Performance and Market Value because ESG Score is not yet a part of firm performance measurement. This research is limited in conducting lag effect research with the lag period of only one year, and also the number of companies that already have ESG scores is limited.
Hubungan Kausalitas Antara Profitabilitas dan Pengungkapan Corporate Social Responsibility (CSR) Desy Ayu Trianingsih; Raihan Rahadi; Retno Yuliati; Arief Rijanto
Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management and Banking) Vol 4, No 3 (2018): Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management, and B
Publisher : STIE Indonesia Banking School

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35384/jemp.v4i3.207

Abstract

Penelitian ini bertujuan untuk menguji hubungan kausalitas antara profitabilitas perusahaan dan pengungkapan Corporate Social Responsibility (CSR). Penelitian ini merupakan penelitian pertama di In-donesia yang menguji hubungan kausal antara profitabilitas dan pengungkapan CSR dengan menggunakan granger causality. Sampel penelitian terdiri dari 227 perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia (BEI) dari tahun 2010-2015 dengan metode purposive sampling. Hasil dari penelitian ini menun-jukan bahwa 1) Profitabilitas berpengaruh signifikan positif terhadap pengungkapan CSR; 2) Pengungka-pan CSR tidak berpengaruh signifikan terhadap profitabilitas; 3) Tidak adanya hubungan kausalitas antara profitabilitas dan pengungkapan CSR dengan menggunakan metode Granger Causality. Hasil dari penelitian ini sejalan dengan penelitian yang dilakukan oleh Hirigoyen dan Poulain-Rehm (2015). Keterbatansan penelitian ini adalah pada pengukuran CSR yang diukur berdasarkan tingkat pengungka-pannya, bukan pada kualitas kegiatan CSR itu sendiri. Hasil penelitian berguna sebagai bahan pertim-bangan bagi manajemen perusahaan dan pemerintah sebagai pembuat kebijakan mengenai pentingnya pengungkapan CSR bagi stakeholder. Rendahnya pengungkapan CSR yang ada di Indonesia hendaknya mendorong pemerintah untuk memberlakukan peraturan hukum yang tegas serta menerapkan reward dan punishment untuk meningkatkan tingkat pengungkapan CSR.
Pengaruh Modal Intelektual terhadap Kinerja Perusahaan pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Adryan Virgandhie; Herlianti Rizkia; Arief Rijanto; Retno Yuliati
Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management and Banking) Vol 3, No 2 (2017): Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management, and B
Publisher : STIE Indonesia Banking School

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35384/jemp.v3i2.203

Abstract

Penelitian ini bertujuan untuk menguji pengaruh modal intelektual terhadap kinerja perusahaan yang ber-dasarkan pada kinerja pasar yang diukur dengan Tobin’s Q. Penelitian terdahulu yang menghubungkan modal intelektual dan Tobin’s Q masih terbatas di Indonesia. Pada penelitian ini Intellectual Capital (IC) diukur dengan VAIC (Value Added Intellectual Capital) yang memiliki tiga komponen yaitu VACA (Value Added Capital Employed), VAHU (Value Added Human Capital), dan STVA (Structural Capital Value Added). Penelitian ini menggunakan sampel perusahaan non keuangan sejumlah 220 perusahaan yang terdaftar di BEI selama periode tahun 2012-2016. Hasil penelitian menunjukan bahwa VAIC dan komponen IC berupa VACA dan VAHU berpengaruh positif terhadap kinerja perusahaan, sementara kom-ponen IC lainnya berupa STVA berpengaruh negatif terhadap kinerja perusahaan. Temuan ini dapat men-jadi masukan yang berguna bagi manajemen untuk dapat mengelola modal intelektual yang dimiliki dengan efektif dan efisien agar perusahaan mampu menciptakan keunggulan kompetitif secara berkelanju-tan. Selanjutnya, pemangku kepentingan dapat melihat kualitas dari proses perusahaan dalam menciptakan nilai tambah dan keunggulan berkompetitif.
Covid-19’s Impact on Financial Planning in Short-Term and Long-Term Perspectives Imelda Simanungkalit; Fabiola Widi Dwi Pangestu; Kevin Simbolon; Rina Astikawati; Zulfikar Zulfikar; Arief Rijanto
PERWIRA - Jurnal Pendidikan Kewirausahaan Indonesia Vol 5 No 1 (2022): PERWIRA - Jurnal Pendidikan Kewirausahaan Indonesia
Publisher : Perkumpulan Pendidik Kewirausahaan Indonesia (Perwira Indonesia)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/perwira.5.1.32-54

Abstract

This research investigates psychological factors including underconfidence bias, analytical/intuitive decision-making approach, self/significant other orientation, and time orientation that influence people's financial planning in short and long-term perspectives under the Covid-19 pandemic situation. The data were collected from the online survey by using a convenience sampling technique. A total of 331 valid responses were scaled on 7 Likert-type questions. Multiple regression analyses were performed in analyzing the hypotheses. This study provides empirical insight into the relationship between psychological factors and financial planning in the short and long-term perspectives. The results indicate both financial planning in short and long-term perspectives is positively associated with analytical decision-making style, time orientation, self, and other orientation. Underconfidence bias is negatively associated only with long-term financial planning but, in contrast, is not supported by evidence to a short-term perspective. Finally, intuitive-decision making is not correlated with financial planning in short-term perspective. This study helps individuals to design better personal financial planning and financial institution to develop more relevant financial services for targeted clients. This study uses consumer behavior's perspective and figures out the gap in consumer behavior literature, especially investigating the underconfidence bias effect on Indonesian's financial planning.