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INDONESIA
Jurnal Management Risiko dan Keuangan
Published by Universitas Brawijaya
ISSN : 29640695     EISSN : 29640695     DOI : -
Core Subject : Science,
Decision Sciences, Operations Research & Management
Publish all forms of quantitative and qualitative research articles and other scientific studies related to the field of Risk Management and Finance.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Strategi dan Menejemen
Articles 58 Documents
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PENGARUH TATA KELOLA PERUSAHAAN, LIKUIDITAS, DAN LEVERAGE TERHADAP KESULITAN KEUANGAN Diah Oktavianti Janah; Ubud Salim
Jurnal Management Risiko dan Keuangan Vol. 1 No. 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aims to analyze the effect of corporate governance using proxies of managerial ownership, institutional ownership, size of the board of directors, size of the board of commissioners and liquidity using proxies of current ratio and leverage using proxies of debt to total asset ratio on financial distress. The sample in this study used company in the textile and garment industry subsector listed on the Indonesia Stock Exchange (IDX) in the 2018 - 2020 period. The sampling in this study used the purposive sampling method, and obtained a sample of 13 textile and garment companies with a total sample of 39 samples. The data analysis method used classical assumption test, multiple linear regression analysis, and hypothesis testing (F test, T-test, and coefficient of determination) using the SPSS 25 program. The results of this study indicate that the managerial ownership has no significant effect on financial distress, institutional ownership has no significant effect on financial distress, size of the board of directors has no significant effect on financial distress, size of the board of commissioners has no significant effect on financial distress, current ratio has significant effect on financial distress, debt to total asset ratio has significant effect on financial distress.
PENGARUH HERDING BEHAVIOR DAN OVERCONFIDENCE TERHADAP KEPUTUSAN INVESTASI Deva Ayu Prisiliya; Moeljadi Moeljadi
Jurnal Management Risiko dan Keuangan Vol. 1 No. 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The Covid-19 pandemic which began at the end of 2019 resulted in increased pu­blic awareness of investment. The increase in public awareness of investing in the capital mar­­ket occurs because people are starting to realize the importance of investing to protect their money. This study aims to analyze the effect of herding behavior and overconfidence on the investment decisions of young East Java investors in the Capital Market. This type of re­search is explanatory research with a quantitative approach. Explanatory research is research that explains the relationship between variables through hypothesis testing. This study has 113 young investors sample in East Java obtained through the distribution of google form questionnaires using the purposive sampling technique. This research uses multiple re­gression analysis methods with the SPSS application. The results of this study indicate that herd­ing behavior and overconfidence variables have a significant effect on the investment de­cisions of young investors in East Java. This research implies that investors must be more ca­reful in making their investment decisions to avoid herding and overconfidence behavior that can harm their investment.
PENGARUH STRUKTUR MODAL, PROFITABILITAS, DAN PERTUMBUHAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN Syaifurridzal Nawianto; Atim Djazuli
Jurnal Management Risiko dan Keuangan Vol. 1 No. 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The company's growth rate plays an important role in determining the high value of the company. This study aims to determine and analyze how much the influence of capital structure, profitability, and company growth have on the value of the automotive sub-sector companies listed on the Indonesia Stock Exchange for the period 2015 – 2019. This research is explanatory research with a quantitative approach. The data sources are financial reports from five automotive sub-sectors listed on the Indonesia Stock Exchange for the period 2015 – 2019. The data collection used in this study was carried out through the documentary method or documentation and literature study. The results show that hypothesis 1 shows that there is no significant effect between capital structure on firm value, hypothesis 2 shows that there is a significant influence between profitability on firm value, hypothesis 3 shows that there is no significant effect between firm growth on firm value, and hypothesis 4 shows that there is a simultaneous influence between capital structure, profitability and company growth on firm value.
LEVERAGE, RISK BASED CAPITAL, UNDERWRITING RESULT, DAN PROFITABILITAS PERUSAHAAN ASURANSI DI INDONESIA Patrick Immanuel Sinaga; Nur Khusniyah Indrawati
Jurnal Management Risiko dan Keuangan Vol. 1 No. 2 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The objective of this research is to analyze the effect of leverage, risk-based capital, and underwriting result on profitability. Leverage (proxied by debt-to-equity ratio), risk-based capital, and underwriting result are used as the dependent variables estimated to be influential to profitability, i.e. the dependent variable, which is proxied by return on equity. This study was conducted on insurance companies listed on the Indonesia Stock Exchange. The data was obtained by accessing the website of the Indonesia Stock Exchange and the companies’ published annual reports. Using purposive sampling, eight listed companies during the 2016-2020 were selected as the sample. The results of the multiple linear regression have led to findings that leverage positively and significantly affects profitability and that risk-based capital and underwriting result do not affect it. The findings of this study can be used by insurance company managers to maintain their superior financial performance by optimizing profitability and controlling leverage.
PENGARUH GOOD CORPORATE GOVERNANCE, STRUKTUR KEPEMILIKAN, DAN UKURAN PERUSAHAAN TERHADAP KINERJA KEUANGAN Rosita Wandari; Atim Djazuli
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This research was conducted in light of Indonesia’s low score in good corporate governance application and cases of bad corporate governance in 2020. The unfavorable instances involved PT Jiwasraya and PT Asabri, insurance companies. This is ironic since financial industry is one of investor’s favorite sectors. The objective of this study is to assess and analyze the effect of good corporate governance, ownership structure, and firm age on the financial performance of financial-sector companies listed on the Indonesia Stock Exchange in the period of 2016-2020. Applying purposive sampling technique, 18 companies were selected as the sample. The data of this research was analyzed using multiple linear regression. This study finds that the size of board of commissioners, managerial ownership, and firm size positively and significantly influence financial performance, that institutional ownership negatively and significantly affects the performance, and that the proportion of board of commissioners, size of board of directors, and audit committee do not significantly influence it. In general, the dimensions of good corporate governance are not quite influential on financial performance, while ownership structure and firm size significantly affect the performance.
PENGARUH KEBIJAKAN DIVIDEN, PROFITABILITAS, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN Qomarotul Badriyah; Toto Rahardjo
Jurnal Management Risiko dan Keuangan Vol. 1 No. 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The food and beverage sub-sector companies have experienced a decline in stock prices, especially in 2020. The value of the company describes the level of welfare of the shareholders. The high and low value of the company can be seen from the company's stock price. The objective of this research is to identify the effects of dividend policy, profitability, and leverage on firm value. This quantitative research uses secondary data concerning companies in the sub-sector of food and beverages listed on the Indonesia Stock Exchange in the period of 2014-2020. The samples were selected using purposive sampling technique with several criteria. The population in this study uses 28 annual reports of food and beverage sub-sector companies and 7 companies that meet the criteria in determining the sample. Since multiple regression was used in this study, classical assumption test was also performed. The results of this study indicate that dividend policy has a positive effect on firm value. Profitability has a positive effect on firm value. Leverage has a positive effect on firm value. Therefore, companies must pay attention to their dividend payout ratio, profitability, and leverage in order to improve their values.
PENGARUH INFLASI, NILAI TUKAR KURS, SUKU BUNGA SBI TERHADAP HARGA SAHAM Indah Eka Putri Pramesti Nurdianingsih; Toto Raharjo
Jurnal Management Risiko dan Keuangan Vol. 1 No. 3 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The purpose of this research is to identify the effect of inflation, USD’s exchange rate, and SBIinterest rate on stock prices. Using purposive sampling, nine companies listed on the IndonesiaStock Exchange from 2017 to 2021 were selected as the sample. The independent variables areinflation, USD’s exchange rate, and SBI interest rate, and the dependent variable is stock prices. The multiple linear regression analysis performed in this study has led to findings that inflation and USD’s exchange rate significantly affect stock prices and that SBI interest rate does not influence the stock prices.
ANALISIS POTENSI FINANCIAL DISTRESS BERDASARKAN MODEL PREDIKSI ALTMAN MODIFIKASI Nabila Khairunnisa; Toto Rahardjo
Jurnal Management Risiko dan Keuangan Vol. 1 No. 2 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The objective of this research is to predict the potential of financial distress in cement companies listed on the Indonesia Stock Exchange in the period of 2016-2020. Using saturated sampling method, all five companies were selected as the sample, who were observed for five years. This quantitative study uses discriminant analysis. The variables of this research were referred to the study of Edward I. This study uses the modified Altman consisting of working capital to total assets (WC/TA), retained earnings to total assets (RE/TA), earnings before interest and taxes to total assets (EBIT/TA), and book value of equity to book value of debt (BVE/BVD). The results of the analysis suggest that the four variables above are able to significantly distinguish cement companies that are under financial distress and those which are not because the F test and the Wilks’ Lambda test resulted in the significance value of < 0.05. In addition, WC/TA ratio is the dominant predicting variable in differentiating the two groups of companies as it has the highest loading value, i.e. 0.840.
PENGARUH RASIO LIKUIDITAS, RASIO PROFITABILITAS, RASIO MANAJEMEN UTANG, DAN RASIO AKTIVITAS TERHADAP RETURN SAHAM Rosalia Septia Nagari; Pusvita Yuana
Jurnal Management Risiko dan Keuangan Vol. 1 No. 2 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The purpose of this study is to analyze the effects of liquidity ration profitability ratio, debt management ratio, and activity ratio on stock return. This explanatory research uses quantitative approach in explaining the relationship of a variable with the others. Secondary data compiled from the annual reports of food and beverages companies listed on the Indonesia Stock Exchange was used in this research. Using purposive sampling technique, nine companies that meet the criteria were selected as the sample. The hypotheses were tested based the multiple linear regression analysis. The independent variables in this study are liquidity ratio that was measured using Current Ratio (CR), profitability ratio that was measured using Return on Assets (ROA), debt management ratio that was measured using Debt-to-Equity Ratio (DER), and activity ratio that was measured using Total Assets Turnover (TATO). The dependent variable is stock return. This study finds that, in partial ways, there are insignificant effects of financial performance that was measured using CR, DER, and TATO on stock return and that there is a positive and significant effect of financial performance that was measured using ROA on stock return.
ANALISIS PROFITABILITAS PERBANKAN SEBELUM DAN SESUDAH MENERAPKAN FINTECH Faiza Bela Salsabila; Himmiyatul Amannah Jiwa Juwita
Jurnal Management Risiko dan Keuangan Vol. 1 No. 1 (2022)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The rapid development of information technology and the internet, which are more becoming community-oriented, has an impact on the emergence of financial technology or what is often called fintech. Collaboration between Fintech and Banking institutions will bring benefits to each party. This research is intended to measure the effect of the collaboration between banking and fintech. This research is a quantitative study with comparative analysis that aims to measure the differences in profitability levels as measured by the ratio of Return On Assets (ROA), Return on Equity (ROE), Net Interest Margin (NIM), and Operating Expenses on Operating Income (BOPO) between before and after implementing fintech in banking with a sample of government banks listed on the IDX for the 2015-2020 period that have collaborated with fintech startups. Data analysis used Paired T Test and Wilcoxon Ranked Signed Test. The results showed that there were significant differences in ROA, ROE, and NIM at 3 out of 7 Banks after implementing fintech, but the difference was a decrease. The implication of this research is that there is still a need for improvement in banking and there is still a need for adjustments from banks to remain profitable while following technological advances.

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