Analisis Sistematis Manajemen Risiko Keuangan dalam Pengambilan Keputusan Investasi Perusahaan Publik di Indonesia: Systematic Literature Review (SLR)

Yuki Dwi Darma; Pujiharta Pujiharta; Dea Tri Ananda

doi:10.30640/ekonomika45.v13i1.5573

Authors

Yuki Dwi Darma Universitas Pelita Bangsa
Pujiharta Pujiharta Universitas Pelita Bangsa
Dea Tri Ananda Universitas Pelita Bangsa

DOI:

https://doi.org/10.30640/ekonomika45.v13i1.5573

Keywords:

Financial Risk Management, Investment Decisions, Market Volatility, Public Companies, Systematic Literature Review

Abstract

The purpose of this study is to see how financial risk management affects investment decisions made by public companies in Indonesia. During the period 2020–2025, the study was conducted using the Systematic Literature Review (SLR) method, which uses secondary data from various scientific databases, including Google Scholar, Scopus, Crossref, and Semantic Scholar. After a selection process through inclusion, exclusion, and quality assessment criteria, 28 relevant articles were identified for further analysis. The study shows that the quality of investment decisions made by public companies in Indonesia is significantly influenced by financial risk management. Financial risk management (financial risk), business risk (business risk), and operational risk are the three most common dimensions of financial risk management. In addition, there are a number of additional variables that influence investment decision making; these include macroeconomic conditions, investor intentions, subjective norms, and transparency of financial statements. In addition, there are also financial behavioral variables such as overconfidence, accounting mentality, and risk perception. Although various contemporary financial risk management theories have been developed, Indonesia still faces several problems in its application. These include human resource shortages, suboptimal corporate risk culture, and lack of improvement in the application of data-based risk management technology. This research is expected to help investors, public companies, regulators, and academics make better investment decisions about financial risk management.

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