Financial Management Practices Research Articles

DINAMIKA MANAJEMEN KEUANGAN DAN PENGARUHNYA TERHADAP KINERJA PERUSAHAAN: Studi Kasus Pada PT Indomarco Prismatama

PT Indomarco's financial management practices are analyzed using a qualitative descriptive approach to understand the complexity and dynamics of managing financial resources. The study reveals that financial management is a dynamic area that requires a deep understanding of business strategies and the ability to adapt to market changes. This research provides valuable insights for practitioners and academics to develop more effective and responsive financial strategies. Understanding the dynamics of financial management is crucial for achieving optimal financial performance, and PT Indomarco's financial strategies are designed to address these challenges. Thus, PT Indomarco's financial management practices are a testament to the importance of understanding and adapting to market changes.

Financial Governance and Logistics in Re-Election: Case Study of the 2020 Labuhanbatu Regency KPU

This research delves into the financial and logistical management practices employed by the General Election Commission (KPU) of Labuhanbatu Regency during the 2020 Regent and Deputy Regent elections, with a particular focus on the subsequent re-voting processes. Following elections, it's common for unsuccessful candidates to contest results, leading to legal challenges and, in some cases, re-voting. Labuhanbatu Regency's experience is noteworthy as it underwent re-voting twice. Utilizing a qualitative research approach with a descriptive framework, this study reveals that the financial and logistical governance by the Labuhanbatu KPU was effectively executed, ensuring smooth re-voting procedures, minimizing the likelihood of errors, and bolstering public trust in democratic processes. Recommendations stemming from this research advocate for the recruitment of polling station (TPS) officers based on merit and experience to enhance service quality. Moreover, it underscores the importance of sustaining effective financial and logistical management practices to preempt future re-voting scenarios, even in the absence of significant hurdles.

DEVELOPMENT OF THE VALUE BASE MANAGEMENT CONCEPT AND ITS ROLE IN MAXIMIZING THE VALUE OF THE CORPORATE ENTERPRISE

The purpose of the study is to critically review and summarize the main world approaches to building Value Base Management and to substantiate, on this basis, recommendations for its implementation in the domestic practice of financial management. The article describes the evolution of VBM development and conceptual approaches to corporate enterprise management. The objective necessity of transforming approaches to the management of corporate enterprises from traditional financial models to value-based management is substantiated. It is established that VBM is not only one of the main directions of improving the efficiency of management decisions, but also has a significant impact on the value of a corporate enterprise in the long term. The article proves that the use of the value-based concept of enterprise financial management implies the selection of appropriate methods and tools at all levels of management aimed at sustainable value reproduction. 
 The article considers the process of transformation of the VBM concept and its main elements. A comprehensive analysis of the main approaches and models to business valuation is presented. A comparative characterization of VBM and the traditional approach to corporate enterprise management is systematized and provided. 
 The generalization of the economic content of management theories has allowed to substantiate that VBM differs significantly from the previously accepted management criteria and is a more effective concept of equity management than other systems. It should be borne in mind that the value of an enterprise, on the one hand, is an indicator of its sustainable development, and on the other hand, it is a regulator of value distribution for various participants in economic relations, so, of course, the management mechanism should focus on the key factors of value creation

The Impact of Personal Financial Management and Emotional Intelligence on Financial Well-being with The Mediation of Risk Management Attitude

This study investigates the intricate relationships among personal financial management, emotional intelligence, risk management attitude, and financial well-being. The study employs a random sampling technique with a sample size of 41 individuals from Bank Mandiri KCP Solo Slamet Riyadi. Path analysis, using the SmartPLS software, is utilized to explore direct and indirect effects. The results reveal a significant positive impact of personal financial management on risk management attitude and financial well-being. However, emotional intelligence is not found to be a significant predictor of risk management attitude or financial well-being. The study concludes that effective personal financial management practices play a crucial role in enhancing financial well-being, both directly and indirectly through influencing risk management attitudes. These findings provide insights for interventions and educational programs aimed at improving individuals' financial resilience and satisfaction by emphasizing responsible financial habits and decision-making.

Mapping the role of financial management in healthcare: Bibliometric analysis of Middle Eastern region

The study aims to emphasize the importance of financial management within the healthcare sector using bibliometric analysis techniques like influential authors, countries, journals, and publications. The researcher used the Scopus database for the extraction of required data. For this purpose, several relevant keywords and synonyms related to financial management in healthcare were used as advanced search options in the Scopus database. The bibliometric keyword cluster analysis indicated that financial management plays a significant role in health insurance, funding, cost, expenses, financing, and insurance related to healthcare units in Middle Eastern regions. The most influential top 5 countries for research in the financial management of healthcare units in the Middle Eastern region are Iran, Lebanon, Egypt, UAE, and Saudi Arabia respectively. Similarly, the most influential journal in this domain is “Eastern Mediterranean Health Journal published by World Health Organization”. Additionally, the most influential authors in this research domain are Ammar, Walid S from Lebanon, and Rashidian, Arash from Iran. The findings of this bibliometric study are specifically important for practitioners, administrators, and policymakers in the healthcare sector of the Middle East region for making valuable decisions regarding financial management practices.

Accountability And Financial Transparency Of Mosques Based On Sharia Enterprise Theory (Case Study Of Masjid Al-Muhajirin Desa Sidoraharjo)

This research aims to determine the accountability and transparency practices of financial management carried out by the administrators of the Al-Muhajirin Mosque, Sidoraharjo Village, South Sukamaju sub-district, North Luwu district. This research uses a qualitative approach based on interviews, observation and documentation. The data analysis technique used in this research is descriptive qualitative. The results of the research show that in its financial management, the Al-Muhajirin Mosque has done things that reflect responsibility (accountability) and openness (transparency) based on enterprise sharia theory, namely related to the awareness of the Mosque Committee/Manager that their duties are trust and worship of Allah. The management also realizes that reporting the mosque's financial accountability is not only to the community/congregation and donors but also to Allah SWT. Apart from that, mosque funds have been used for worship of Allah and there is nothing to cover up.

Strategic Financial Management: Unraveling the Dynamics of Sustainable Business Growth at SMEs Enterprises in Indonesia

This article delves into the dynamics of sustainable business growth at Small and Medium-sized Enterprises (SMEs) in Indonesia through the lens of strategic financial management. Employing a qualitative methodology, the study conducts a thorough literature review and library research to unravel key insights into the financial strategies adopted by SMEs for achieving sustainability in a dynamic business environment. The research explores various dimensions of strategic financial management, including capital structure, financial risk management, and investment decisions, within the context of SMEs in Indonesia. By synthesizing existing literature, the article aims to provide a comprehensive understanding of how SMEs navigate financial challenges and capitalize on opportunities to foster sustainable growth. The findings highlight the significance of tailored financial strategies for SMEs, emphasizing the need for agility and adaptability in response to market fluctuations and regulatory changes. The article discusses successful case studies and identifies common challenges faced by SMEs in Indonesia, shedding light on effective financial management practices that contribute to long-term viability.

PELATIHAN JURU BUKU KSP/USP KOPERASI BERBASIS KOMPETENSI SKKNI KABUPATEN/KOTA DI PROVINSI SUMATERA SELATAN

Cooperatives as economic entities based on the principles of togetherness and shared prosperity require the existence of bookkeepers who are skilled and knowledgeable in managing finances and administration. Training for KSP/USP Cooperative Bookkeepers Based on Competency in Districts/Cities in South Sumatra Province has had a positive impact on the competency, skills and knowledge of Savings and Loans Cooperative/Usp bookkeepers. The training methods used include a practical approach with a focus on direct application in the cooperative context. The training participants consisted of cooperative bookkeepers from various cooperatives in different regions in South Sumatra province. Training focuses on basic understanding of organizational management, cooperative accounting, cash flow management, accurate financial reporting, and the application of technology in administration. The training results showed a significant increase in the bookkeeper's technical skills and conceptual knowledge after attending the training. Participants also reported increased confidence in managing their day-to-day administrative tasks. Apart from that, this training also encourages collaboration between cooperatives and the exchange of best practices in financial management. The final result is that participants are provided with a certificate from BNSP. In conclusion, competency-based training has proven effective in improving the skills and knowledge of cooperative bookkeepers. This has important implications in increasing the operational efficiency of cooperatives as well as increasing members' and stakeholders' trust in cooperative financial management

The Effect of Financial Planning on Consumer Debt Management: The Role of Financial Literacy, Self-Efficacy, and Financial Motivation

This qualitative study investigates the complex interplay between financial literacy, financial behavior, self-control, debt management, and financial well-being. Utilizing in-depth interviews with a purposively selected group of individuals engaged in financial planning to manage personal or household debt, the research aims to explore how financial literacy, self-efficacy, and financial motivation mediate the relationship between financial planning and consumer debt management. The methodology encompasses a thematic analysis of participants' narratives to identify and interpret the underlying themes related to financial management practices. Findings reveal a multifaceted relationship where financial literacy emerges as a foundational element, enhancing participants' ability to manage debt effectively. High financial self-efficacy, influenced by literacy, motivates proactive financial behaviors, leading to improved financial well-being. Conversely, low self-control and procrastination were identified as significant barriers to effective debt management. The study also highlights the pivotal role of quantitative literacy and material values in shaping financial behavior, with strong quantitative skills and lower materialism associated with forward-looking financial decisions. These insights underscore the need for comprehensive financial education that addresses not only the cognitive aspects of financial decision-making but also the psychological factors influencing financial behaviors. Tailoring financial education to individual needs and contexts is critical for enhancing financial literacy, self-efficacy, and motivation, ultimately leading to better debt management and financial health.

Analyzing the Challenges in Executing the Budget of Maniema Province

This article delves into the persistent issues surrounding the execution of the budget within the Maniema Province. Through a comprehensive examination of various factors such as financial management practices, institutional capacity, and governance structures, the study identifies key hurdles impeding effective budget execution. Drawing on empirical data and qualitative analysis, the article offers insights into the root causes of these challenges and proposes practical recommendations to enhance fiscal transparency, accountability, and efficiency in budget implementation processes within the Maniema Province.

Determinants of Accountability for Financial Management of Non-Profit Organizations in Indonesia with the Internal Control and Supervision Environment as Moderation Variables

This study aims to examine the determinants of financial management accountability in non-profit organizations. Utilizing a quantitative methodology employing Partial Least Squares (PLS) analysis, the study assessed 14 hypotheses, relying on coefficient values and significance levels for hypothesis validation. While the choice of analysis model and rationale behind its selection were not explicitly elucidated, the study ensured rigor through pilot testing of the questionnaire to establish validity and reliability. From 140 distributed questionnaires, 87 were returned, and 79 met the inclusion criteria for analysis. The findings suggest a significant positive influence of transparency, fund type, financial statement presentation, and accessibility on financial management accountability. Additionally, internal control factors such as transparency, fund types, financial statement presentation, accessibility, and internal supervision underscore the importance of these elements in bolstering accountability. However, it is noteworthy that the direct impact of the control environment on financial management accountability was not observed within the study's context. While the identification and operationalization of the studied variables were not extensively detailed, it is acknowledged that the relatively small sample size and the focus solely on non-profit organizations in Indonesia may constrain the generalizability of the findings. Nonetheless, this research provides valuable insights into the factors influencing accountability practices in NGO financial management, potentially benefiting stakeholders and contributing to the existing literature on financial management, particularly within the realm of non-profit entities.

Integrated and systematic Best Practices of "Financial Management in Education" in Southeast Asia

Effective financial management is critical to school success. Financial management and finance in education are crucial. Since educational institutions are not profit-driven, the community and parents must ensure that each is used to improve the quality and quantity of instruction. Numerous researchers have explored the best financial management practices in education, but more research is needed. Comprehensive research is required to determine the best educational financial management approaches. Financial management practices like budgeting, resource allocation, cost control, and financial responsibility must be studied in educational settings. According to this study, different approaches in different educational environments affect student progress, school effectiveness, and economic viability. Further comparative research on financial management methods in educational institutions or across nations is needed. This study reviews the literature on efficient financial management practices in education. The systematic literature review (SLR) method and 7P flow diagram are used for analytical systematic reviews. This study addresses demographic questions in current scholarly works on optimal financial management approaches in education, including nation, research methodology, and participant count. Examining the latest academic works on education's strategic trajectory and financial management components will help determine the best financial management methods for education and future study. The systematic research shows excellent financial management strategies in education. Western and Southeast Asian demographic literature shows little research on the best financial management strategies for schooling. This comprehensive and systematic review of educational literature on optimal tactics and fiscal administration seeks to identify education's best practices. This research's structure and review of difficulties will improve school leaders' strategic financial management. It will underpin future research and policymaking. By filling this research gap, education policymakers, school administrators, and financial managers can get evidence-based advice on the best financial management strategies to improve resource allocation, educational quality, and long-term financial viability.

Impacts of the Expected Credit Loss Model on Pro-Cyclicality, Earnings Management, and Equity Management in the Portuguese Banking Sector

This article delves into the pro-cyclicality of loan loss provisions (LLPs) and earnings management, along with equity management, in Portuguese banks against the backdrop of implementing the IFRS 9’s expected credit loss (ECL) model. It concentrates on how LLPs mirror economic cycles and financial management practices, providing valuable insights into the operational dynamics of the Portuguese banking sector, marked by distinct economic and regulatory challenges. The research examined a sample of five Portuguese commercial banks, chosen from a group of seventeen in the Portuguese Banking Association. Data spanning from 2013 to 2022 were manually gathered. A multiple linear regression model was employed to scrutinize the relationship between LLPs and variables indicative of economic cycles and the earnings and equity management. The methodology use was a multiple linear regression model. The analysis indicates a pro-cyclicality in LLPs within the Portuguese context, with a positive response of LLPs to economic indicators like unemployment. Contrarily, the extent of earnings and equity management under the ECL model was less marked compared to the incurred credit loss (ICL) model, suggesting the impact of more stringent regulatory measures. The research corroborates the pro-cyclicality of LLPs in Portuguese banks under the ECL framework, underscoring the necessity for ongoing monitoring and refinement of models for forecasting and recognizing credit losses. The findings point to an area for improvement in financial management practices, despite regulatory enhancements, to promote transparency and ensure financial stability.

Risk Mitigation and Value Creation: Exploring Innovative Financial Management Practices in Global Enterprises

Risk mitigation and value creation are essential components of financial management practices in global enterprises. This article aims to explore innovative financial management practices adopted by global enterprises to mitigate risks and create value. Employing a qualitative method, this study conducts a comprehensive literature review and library research to gather relevant data. Through the review of existing literature, various innovative financial management practices are identified, including risk assessment frameworks, hedging strategies, financial derivatives utilization, and dynamic asset allocation models. Additionally, the study evaluates the impact of these practices on risk reduction and value enhancement in global enterprises. The findings reveal that innovative financial management practices contribute significantly to risk mitigation by providing enterprises with tools and techniques to identify, assess, and manage risks effectively. Moreover, these practices facilitate value creation through improved decision-making processes, enhanced operational efficiency, and optimized resource allocation. Furthermore, the study examines the challenges and opportunities associated with the adoption of innovative financial management practices in the global business environment. Key challenges include regulatory compliance, technological integration, and organizational culture alignment, while opportunities include increased competitiveness, enhanced stakeholder confidence, and sustainable growth. Overall, this study provides insights into the importance of innovative financial management practices in addressing contemporary challenges and opportunities faced by global enterprises

Green Growth and Beyond: The Influence of Environmental Practices, Financial Management, Market Access, and Digital Integration on the Resilience and Sustainability Business Practices of MSMEs in Indonesia

This study looks into how market accessibility, digital integration, financial management, and environmental practices affect the sustainability and resilience of Micro, Small, and Medium-Sized Enterprises (MSMEs) in Indonesia. Data analysis is done using Structural Equation Modeling with Partial Least Squares (SEM-PLS) in a quantitative manner using a sample of 274 MSMEs. The diversity of the sample with respect to industry sectors, geographic regions, and company sizes is demonstrated by descriptive statistics. The structural model findings show positive and substantial correlations between the elements under investigation and company resilience and sustainability, while the measurement model analysis validates the validity and reliability of the constructs. The results are stable, as supported by bootstrapping analysis, and the model fit indices show good predictive relevance. The findings are interpreted in the discussion, which also provides policymakers and business practitioners with useful insights. The study adds to our theoretical understanding of MSME dynamics and offers guidance on how to develop resilient and sustainable business practices.

Analisis Akuntabilitas dan Transparansi Laporan Keuangan pada Kelurahan Gundaling II Kecamatan Berastagi Kabupaten KARO

This research aims to analyze the level of accountability and transparency in the financial reports of Gundaling II Subdistrict and identify practices that influence community involvement in the supervision and use of public funds. Qualitative research methods are used by collecting data through analysis of financial reports, interviews with related parties, and direct observation of the financial management process. The results of the analysis show that although financial reports have generally been prepared well, there are still several areas where aspects of accountability and transparency need to be improved. These findings highlight the need to improve financial management procedures, use technology to improve transparency, and expand public participation in financial oversight. The implication of this research is the importance of implementing more transparent and accountable practices in local government financial management in order to increase community involvement and trust in the use of public funds.

Assessing the influence of financial management practices on organizational performance of small- and medium-scale enterprises

Purpose Optimal application and commitment toward financial management practices enhance organization performance. This study aims to assess the influence of financial management practices on organizational performance of small- and medium-scale enterprises. Design/methodology/approach Data were collected from 45 small-sized and 72 medium-sized firms. Data supported the hypothesized relationships. Construct reliability and validity were established through confirmatory factor analysis. The conceptual model and hypotheses were evaluated by using structural equation modeling. Findings The results indicate that working capital significantly influenced organizational performance. Capital budget management significantly influenced organizational performance. A non-significant influence of asset management on organizational performance was observed. Research limitations/implications The generalizability of the findings will be constrained due to the research’s SMEs focus and cross-sectional data. Practical implications The study’s findings will serve as valuable pointers for stakeholders and decision-makers of SMEs in the development of well-articulated and proactive financial management systems to ensure competitiveness, sustainability, viability and financial competences. Originality/value The study adds to the corpus of literature by evidencing empirically that financial management practices significantly influenced SMEs’ performance.

Manajemen Keuangan Pribadi pada Siswa Mattayom di Sekolah Sangkom Islam Wittaya School

This research aims to analyze the practices of personal financial management among Mattayom students at Sangkom Islam Wittaya School. The research employed survey and interview methods with Mattayom class students, along with qualitative analysis. Findings reveal that a significant number of Mattayom students have limited understanding of personal financial management. Despite receiving regular allowances, a lack of awareness regarding the importance of budgeting and saving makes them vulnerable to financial instability. Educational factors, spending patterns, and social influences also contribute to students' financial management practices. Therefore, this research recommends the development of an integrated financial education program within the school curriculum. It is expected to assist Mattayom students in enhancing their personal financial management skills and preparing them to face future financial challenges.

Efficiency and financial risk management practices of microfinance institutions

AbstractMicrofinance institutions (MFIs) have evolved in different and complex ways to solve various market frictions, with some of them providing a wide range of financial products and using different lending technologies to reach poor and underserved populations. As a result, some MFIs are more efficient than others, but are efficiency gains aligned with risk management practices? The specific characteristics of the microfinance industry make the answer to this question less obvious than that of commercial banks. This paper tries to shed light on these issues by analysing the efficiency and risk management of MFIs and describing the potential implications of these relationships for the microfinance industry. After considering several measures of financial risk management ratios commonly used in the microfinance literature, our results show that cost efficiency improves asset quality and solvency of MFIs, but also reduces the need for holding idle cash or liquid assets. The results of this paper can help academics, policymakers, and regulators to better understand the impact of cost efficiency on financial risks management practices in the microfinance industry.

CAPITAL STRUCTURE MODEL (Empirical Study on IDX 2020-2022)

The food and beverage industry are constantly evolving and shaped by consumer preferences, making it crucial for companies to consider the various factors that impact their revenue streams. Analyzing the structure of a company's assets and the rate of its sales growth are crucial factors to consider, as they greatly influence the financial management practices of the company. Asset structure means what a company owns, and sales growth shows if the company is making more or less money. The aim of this research is to examine how the capital structure is influenced by asset structure, sales growth, and the role of profitability in mediating this connection. The study utilized a quantitative research methodology. The research population consisted of companies in the food and beverage subsector on the IDX from 2020 to 2022. A total of 23 companies were selected as the sample over a 3-year period, resulting in 69 data points using purposive sampling technique. The data analysis involved multiple linear regression analysis with the assistance of SPSS version 17. The study's results show that both the composition of assets and the growth in sales have a favorable and noteworthy influence on the structure of capital. Additionally, profitability plays a role in connecting the asset structure with the capital structure, as well as linking sales growth with the capital structure.