Dr. Aldy Fariz Achsanta
Senior Researcher
Dr. Aldy Fariz Achsanta is a faculty member at the Faculty of Economics and Business, Universitas Sebelas Maret. He holds a Ph.D. in Banking and Finance from Université de Limoges, France. His teaching experience spans both Université de Limoges and UNS, delivering courses such as Financial Management, Fintech, and Econometrics. His research interests include bank ownership structure, banking risk, and financial stability, with publications in journals like Economic Modelling and Eurasian Economic Review. He has been involved in both international and local research projects, including the PHC Nusantara initiative and regional regulation drafting for poverty alleviation.
Publications
- Trinugroho, I., Achsanta, A. F., Pamungkas, P., & Sajidan, S. (2025). The impact of investment on environmental quality: evidence from Indonesian Provinces. International Journal of Trade and Global Markets, 21(1), 1–13. https://doi.org/10.1504/IJTGM.2025.146310
- Rahmadany, A. N., Risfandy, T., Achsanta, A. F., & Rifai, B. (2024). Liquidity and credit risks during the COVID-19 pandemic: evidence from a dual banking system. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-11-2023-0407
- Achsanta, A. F., Pamungkas, P., Trinugroho, I., Gunarto, & Goestjahjanti, F. S. (2023). How Do Banks Set Their Propping Behavior Through Related Party Transactions During a Bail-In Regime? Evidence From an Emerging Market. International Journal of Economics and Management, 17(1), 53–59. https://doi.org/10.47836/ijeam.17.1.04
- Anam, M. C., Setyowati, A., & Achsanta, A. F. (2025). Country’s development and renewable energy adoption. IOP Conference Series: Earth and Environmental Science, 1438(1). https://doi.org/10.1088/1755-1315/1438/1/012082
- Anggraeni, V., Achsanta, A. F., & Purnomowati, N. H. (2023). Measuring opportunities: Transforming Indonesia’s economy through utilizing natural resources for sustainable development through green economy indicators. IOP Conference Series: Earth and Environmental Science, 1180(1). https://doi.org/10.1088/1755-1315/1180/1/012011
- Arifin, T., Achsanta, A. F., & Trinugroho, I. (2023). Do academics in the boardroom create value for firms? Entrepreneurial Business and Economics Review, 11(2), 157–170. https://doi.org/10.15678/EBER.2023.110208
- Trinugroho, I., Achsanta, A. F., Pamungkas, P., Saputro, N., & Yuniarti, S. (2023). Democracy, economic growth, and income inequality: Evidence from province level data. Cogent Economics and Finance, 11(1). https://doi.org/10.1080/23322039.2023.2220244
- Achsanta, A.F., Lepetit, L., Tarazi, A. (2022). Government ownership of banks: Implication for minority shareholder. Economic Modelling, 16(1), 83–94.
- Saragih, J.J., Achsanta, A.F. (2022). Does high market power benefit government banks? Evidence from an emerging country. International Journal of Economic and Management, Volume 112, July, 105842.
- Achsanta, A.F., Risfandy, T., Pamungkas, P., Trinugroho, I. (2021). Related bank deposits: Good or bad for stability? Eurasian Economic Review.
