Papers by Liliana Inggrit Wijaya
Advances in economics, business and management research, Sep 30, 2023
This study examines the interrelation of internationalization and firm performance among manufact... more This study examines the interrelation of internationalization and firm performance among manufacturing sectors in Indonesia for the years 2021-2021. This is basic research with a quantitative approach using data panels on E-Views 10. The research used 20 companies that fulfill the terms of the period year, sector and have the component of variables. The results of this study show that internationalization has a significant effect on firm performance (ROA and ROS proxy), firm performance has a significant effect on internationalization (FATA proxy), but firm performance has an insignificant effect on internationalization (FSG proxy).
Jurnal Aplikasi Bisnis dan Manajemen
Manufacture sector becomes a focus of this research. The manufacturing sector was chosen because ... more Manufacture sector becomes a focus of this research. The manufacturing sector was chosen because the sector had the biggest GDP in 2016-2020. This research aims to analyze the effect of corporate social responsibility based on corporate philanthropy, leverage, and firm size on the company's financial stability. Financial stability was used as a dependent variable in this study. This research uses a quantitative approach and multiple panel data regression method. The object used in this research was 456 observation data on the Indonesian Stock Exchange from 2016-2020. This research shows that corporate philanthropy has an insignificant effect on financial stability in Indonesia. Leverage has a significant negative effect on financial stability in Indonesia. Firm size has a significant positive effect on financial stability in Indonesia. The conclusion is that corporate philanthropy does not affect financial stability, while the level of leverage and the company's size affect financial stability. In Indonesia, the role of corporate philanthropy has not been as decisive as in developed countries. Managerial implications show that the company's size impacts customer trust so that the company has better governance. In addition, companies also need to properly manage the problem of using debt. It is within the optimal point limit not to become a burden and risk to the company.
Jurnal keuangan dan perbankan, Apr 14, 2023
Regional development banks are intermediary institutions that can develop the national economy an... more Regional development banks are intermediary institutions that can develop the national economy and drive regional development through local government management. This study aims to analyze the effect of competition in regional development banks on efficiency with risk as a moderating variable. This study uses the regression panel data estimation technique based on data from regional development banks in Indonesia for the period 2016-2020, a total of 130 observations. The novelty of this study is that it is still rare to examine using a sample of regional development banks using the Leaner Index model to analyze bank competition. This study finds that competition negatively and significantly affects efficiency at regional development banks in Indonesia. Risk strengthens the impact of competition on efficiency. The unstoppable competition requires banks to make several efficiencies both from the micro and macro sides to survive. Regional development banks are very close to local governments, so they should be able to optimize investments in technology-based products and services and improve credit quality.
AMAR (Andalas Management Review), Jun 20, 2023
The purpose of this study is to find out what is the attraction or that makes people in Indonesia... more The purpose of this study is to find out what is the attraction or that makes people in Indonesia interested in buying electric vehicles. In this study using several variables, namely feelings of environmental responsibility, environmental values, environmental knowledge, perceptions of environmental advertising, perceptions of electric vehicles, and the intention of purchasing electric vehicles. This research is basic research and uses quantitative methods. The correlation and regression matrices used are then processed with the stages of measurement model and structural model. Respondents were obtained by distributing questionnaires to as many as 300 respondents who understood electric vehicles and / or environmental issues. The results showed significant results except for environmental knowledge and perceptions of environmental advertising on electric vehicles. Advertisements in circulation are still few and not affected by environmental knowledge so that purchase intentions cannot be encouraged through this.
Advances in economics, business and management research, Dec 6, 2022
This research analyzes the effect of dividend payout ratio, dividend yield, earnings volatility, ... more This research analyzes the effect of dividend payout ratio, dividend yield, earnings volatility, and debt-to-equity ratio on share price volatility in service sector enterprise indexed on the Indonesia Stock Exchange during the 2015-2019 period. This study used a quantitative approach with multiple linear regression. The findings of this study indicate that observations on the Indonesia Stock Exchange show that the dividend payout ratio has a compelling positive effect on share price volatility. This is because the higher the dividend yield, or the more enterprise pay dividends each year, the more volatile the stock price will be because the demand for the company's shares increases [1]. However, the dividend yield has no compelling adverse effect on share price volatility because investors prefer capital gains over dividends. After all, the tax imposed on dividends is higher. Then earnings volatility has a compelling positive effect. This is because, traditionally, profit has been used as an indicator to measure a company's financial performance [2]. Enterprise with consistent earnings are less likely to surprise investors with unexpected earnings announcements. The debt-to-equity ratio has a marginally favorable impact on stock price volatility. This is because, according to the tradeoff hypothesis, the company's decision to employ debt can be viewed as a way to avoid tax on loan interest payments and financial distress expenses produced by the growth of company debt.
Media ekonomi dan manajemen, Jan 4, 2022
This study aims at analyzing the effect of corporate social responsibility (CSR) and the level of... more This study aims at analyzing the effect of corporate social responsibility (CSR) and the level of use of debt on financial performance. The variables used in this study included corporate social responsibility, debt, age, size and employees. This study uses a quantitative paradigm with the least square regression panel data processing method. The population in this study is all non-financial sector companies included in the high profile industry category at the Indonesia Stock Exchange (ISE) for the 2015-2019 period. The results prove that CSR has a significant positive effect on financial performance as proxied by Tobin's Q. When a company's CSR is high, it will have a positive impact on its financial performance. Then, leverage has a negative effect on the performance because the higher the debt, the lower the company's performance.
Journal of Entrepreneurship and Business, Jun 14, 2023
This research analyses how ownership structure affects dividend policy. Method: Quantitative with... more This research analyses how ownership structure affects dividend policy. Method: Quantitative with a pool least square (PLS) regression model was used as a research method, and the research sample was drawn from all non-financial sector companies registered in IDX from 2017 to 2021. Independent variables such as family ownership, institutional ownership, and concentration ownership. This research also has a control variable such as return on assets, debt to equity ratio, firm size, firm age, free cash flow, and volatility (business risk). Result: This research found that family ownership, institutional ownership, concentration ownership, return on assets, firm size, age of firm, free cash flow, and volatility (business risk) all have a significant effect on dividend yield, but the debt to equity ratio has no effect.
Journal of Business and Banking, Sep 7, 2022
Manajemen dan Bisnis, Sep 15, 2022
This study aims the impact of ownership structure on dividend on manufacturing firms that registe... more This study aims the impact of ownership structure on dividend on manufacturing firms that registered on IDX and MYX during 2015-2019. This research uses regression method as quantitative measurement level. The research used objects as many as 455 and 500 observations on the Indonesia and Malaysia Stock Exchange Market. Clarification variables as the free factors in this inquire about are remote possession, family possession, and organization proprietorship. The comes about of the think about utilizing perceptions on IDX found that family proprietorship and regulation proprietorship have a critical positive impact, whereas remote proprietorship has an immaterial negative impact on dividen payout proportion. The results of the study using observations on the MYX proof that institutional ownership has a impact positive effect, while the rest has an inimpact positive on dividend payout ratio.
Journal of Asian Finance, Economics and Business, Mar 1, 2021
This study aims to analyze the benefits of corporate social responsibility (CSR) performance on c... more This study aims to analyze the benefits of corporate social responsibility (CSR) performance on corporate risk in controversial and noncontroversial industries. The hypothesis of this study is based on the conflicting effects of industry type on CSR and firm risk. The research sample consisted of 927 companies listed on the Indonesia Stock Exchange from 2016 to 2019. The main method for data processing was the ordinary least square method and subgroup analysis as a robustness test. The findings suggest that the performance of CSR can reduce corporate risk. However, the impact was only significant for non-controversial firms and weakened for controversial industries. These results support risk management and signaling theory. Firm risk in this study reflects the company's total risk, further research can categorize it into systematic and idiosyncratic risk. Besides, the number of samples of controversial industry research is not as much as noncontroversial; further research can use paired samples. Regulators can use the results to create a new policy regarding CSR implementation. This study contributes to the existing literature by showing that the ability of social responsibility to reduce corporate risk only works in non-controversial industries. This result may be due to the controversial industry receiving negative stigma from its stakeholders.
Ordinal by Ordinal Spearman Correlalion N ot Valid Csses 493 .439 105 .124 405 2.074 .027" .053c ... more Ordinal by Ordinal Spearman Correlalion N ot Valid Csses 493 .439 105 .124 405 2.074 .027" .053c a. Nol assuming the null hypothesis. b Using the asymptotic standard error assuming the null hypothesis c Based on normal approximation.
Indonesia is one of developing countries which also followed by the presence of the retail busine... more Indonesia is one of developing countries which also followed by the presence of the retail business and industries, especially for textile and clothing industry. The fact that retail industry affects the behavior and way of thinking in Indonesian society especially on the relation of satisfaction on loyalty became an interesting phenomenon to study. This study have the purpose to explore the phenomenon and trying to figure the heterogeneous shopping assessment in retail and how that experience may influence on consequent customer loyalty in different way. Data processing that used in this research is Structural Equation Modeling (SEM) with software AMOS 16.0. The researcher try to analyze and elaborate each relationship of satisfaction that respondents got in experienced, in which affecting on attitudinal, behavioral loyalty, and positive word of mouth. Demographic segmentation also conducted to divide consumer segments category based on gender, then compared those consumer segments in order to know the differences on the relationship of satisfaction-loyalty in each segment. The result shows that there are positive and significant relationships between satisfaction and loyalty dimensions. Moreover, another results shows that there are two latent segments where the strength of causal relationships are same in several causal relationship, also different in some causal relationship. The knowledge of this research may be beneficial towards store owner especially to clothing shops to create a great and memorable shopping experience for customers.
Proceedings of the 17 th International Symposium on Management (INSYMA 2020)
This research examines the effect of ownership structure and good corporate governance on firm pe... more This research examines the effect of ownership structure and good corporate governance on firm performance. The research variables used were foreign ownership, institutional ownership, government ownership, size of the board of commissioners, and size of non-financial sector companies on the Indonesia Stock Exchange throughout 2013-2017. This study deployed a quantitative approach through multiple linear regression analysis, with a total sample of 1,650 observations. The research findings were foreign ownership, government ownership; board commissioner size had a significant positive effect on firm performance while institutional ownership and firm size had a significant negative effect on firm performance.
CALYPTRA, Sep 1, 2017
Penelitian ini bertujuan untuk menguji keberadaan dan pengaruh Fama and French Three Factor Model... more Penelitian ini bertujuan untuk menguji keberadaan dan pengaruh Fama and French Three Factor Model dan Momentumterhadap return pada perusahaanperusahaan yang terdaftar di BEI periode 2010-2014.Temuan penelitian menunjukkan bahwa market return berpengaruh positif signifikan terhadap return baik secara simultan maupun terhadap return masing-masing portofolio. Size berpengaruh negatif signifikan terhadap return secara simultan, kemudian terhadap return masing-masing portofolio, size juga memiliki pengaruh negatif signifikan dimana return portofolio dengan size kecil lebih besar dibandingkan return portofolio dengan size besar. Book-to-market equity berpengaruh negatif tidak signifikan terhadap return secara simultan. Sedangkan terhadap masingmasing portofolio, book-to-market equity berpengaruh positif signifikan hanya pada portofolio dengan size kecil saja. Faktor momentum tidak berpengaruh secara signifikan terhadap return baik secara simultan maupun terhadap masing-masing portofolio.
Jurnal Aplikasi Bisnis dan Manajemen, May 31, 2023
The purpose of this study is to find out the influence of tobin's-q, return on asset, women as CE... more The purpose of this study is to find out the influence of tobin's-q, return on asset, women as CEO, board independence, institutional ownership, concentrated ownership, and firm size towards CEO compensation in companies listed on LQ-45 Index of the Indonesia Stock Exchange for the period of 2016-2020. This study uses a quantitative perspective with a linear regression model and data panel. The number of 205 data was observed continuously for five years according to the sample characteristics. Test model specifications with the Chow test and Hausman test shows that random effect models using white correction provide the most suitable results. The results showed that tobin's-q, women as CEO and firm sizes have a significant positive effect on CEO compensation. Meanwhile, institutional ownership has a significant negative effect on CEO compensation. The test results show return on assets and concentration ownership have no effect on CEO compensation. The contribution of this research can provide input for investors and management to understand the conditions of female executives' compensation and the factors that have fundamentally proven to affect the compensation of CEOs. Furthermore, these results have a strong reliability to be considered in designing executive compensation packages and good governance systems.
The Manager Review
Penelitian ini bertujuan untuk menganalisis pengaruh tata kelola perusahaan yang mempengaruhi uta... more Penelitian ini bertujuan untuk menganalisis pengaruh tata kelola perusahaan yang mempengaruhi utang perusahaan. Variabel yang digunakan adalah dewan komisaris, komisaris indepen, kepemilikan institusi, ukuran perusahaan, usia perusahaan, dan profitabilitass. Penelitian ini menggunakan pendekatan kuantitatif dengan model analisis linier berganda. Penelitian ini menggunakan sampel berupa badan usaha industri manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Jumlah sampel yang digunakan adalah 260 observasi. Hasil temuan dari penelitian ini menunjukkan bahwa dewan komisaris, dan ukuran perusahaan berpengaruh positif signifikan terhadap leverage sementara komisaris indepen, kepemilikan institusi, usia perusahaan dan profitabilitass berpengaruh negatif signifikan terhadap leverage pada perusahaan industri manufaktur yang terdaftar di BEI
Budapest International Research and Critics Institute (BIRCI-Journal)
Advances in economics, business and management research, Dec 6, 2022
The Covid-19 pandemic has had a very high impact on students' monthly expenses. This is indicated... more The Covid-19 pandemic has had a very high impact on students' monthly expenses. This is indicated by a decrease in pocket money, changes in the source of pocket money income, and a significant change in student spending. This study investigates the effect of family financial socialization on financial behavior mediated by self-efficacy. The survey was conducted online to 157 private and public undergraduate and postgraduate students in Indonesia, including questions about demographics, family financial socialization, financial behavior, and self-efficacy. The research model consists of three hypotheses tested using structural equation modeling. The results show that family financial socialization has a positive effect on financial behavior directly. Family financial socialization has a positive effect on financial behavior indirectly through self-efficacy.
Journal of Hunan University, Sep 11, 2021
This study analyzes the impact of corporate social responsibility (CSR) associated with idiosyncr... more This study analyzes the impact of corporate social responsibility (CSR) associated with idiosyncratic risk. This study involved corporate governance (CG) in strengthening the negative relationship between CSR and idiosyncratic risk in the Indonesia Stock Exchange to analyze thoroughly. The main design is quantitative research with data processing method used the panel most miniature square regression model with imbalance data for the 2016-2019 period and 551 samples. The results proved that CSR significantly reduces idiosyncratic risk. CSR in the environmental dimension is proven to be more sensitive and robust in reducing idiosyncratic risk. Institutional ownership and independent commissioners strengthen the negative influence of CSR on idiosyncratic risk. The results showed support for the theory of risk management, signaling, and corporate governance mechanisms. The better the CSR performance, the company can manage its resources and give a positive signal to stakeholders because the monitoring mechanism has succeeded in suppressing idiosyncratic risk. This study can be seen from its novelty in relating CSR to idiosyncratic risk by involving a monitoring mechanism for emerging capital markets, namely the Indonesian Stock Exchange. There are still little researches on CSR related to monitoring mechanisms. In addition, researchers concentrated on the idiosyncratic risk because the company's policies drive it.
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Papers by Liliana Inggrit Wijaya