How to cite this paper
Wijayanti, H., Supian, S., Chaerani, D & Shui, A. (2024). Financial optimization modeling on asset liability management with weighted goal programming.Decision Science Letters , 13(4), 951-966.
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Abdollahi, H. (2020). Multi-objective programming for asset-liability management: The case of Iranian banking industry. International Journal of Industrial Engineering and Production Research, 31(1), 75–85. https://doi.org/10.22068/ijiepr.31.1.75
Aidi, A., Setiawan, T. W., & Junaidi, A. (2022). Analysis of Financial Health Level Using the Z-Score ( Altman ) Method in Transportation Companies Listed on the Indonesia Stock Exchange for the 2019-2021 Period. 3(4), 461–473.
Alam, T. (2022). Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming. Applied System Innovation, 5(6), 128. https://doi.org/10.3390/asi5060128
Alamoudi, M. H., & Bafail, O. A. (2022). BWM—RAPS Approach for Evaluating and Ranking Banking Sector Companies Based on Their Financial Indicators in the Saudi Stock Market. Journal of Risk and Financial Management, 15(10), 0–20. https://doi.org/10.3390/jrfm15100467
Alarjani, A., & Alam, T. (2021). Lexicographic Goal Programming Model for Bank’s Performance Management. Journal of Applied Mathematics, 2021. https://doi.org/10.1155/2021/8011578
Allen-Moyer, K., & Stallrich, J. (2022). Incorporating Minimum Variances into Weighted Optimality Criteria. American Statistician, 76(3), 262–269. https://doi.org/10.1080/00031305.2021.1947375
Avakh Darestani, S., Palizban, T., & Imannezhad, R. (2022). Maintenance strategy selection: a combined goal programming approach and BWM-TOPSIS for paper production industry. Journal of Quality in Maintenance Engineering, 28(1), 14–36. https://doi.org/10.1108/JQME-03-2019-0022
Azaro, K., Djajanto, L., & Sari, P. A. (2020). The Influence of Financial Ratios and Firm Size on Firm Value (An Empirical Study on Manufacturing Companies Sector Consumers Goods Industry Listed in Indonesian Stock Exchange in 2013–2017). 136(Ambec 2019), 142–147. https://doi.org/10.2991/aebmr.k.200415.028
Banik, S., & Bhattacharya, D. (2018). Weighted Goal Programming Approach for Solving Multi-Objective De Novo Programming Problems. International Journal of Engineering Research in Computer Science and Engineering (IJERCSE), 5(2), 2394–2320.
Bărbută-Misu, N., Madaleno, M., & Ilie, V. (2019). sustainability Analysis of Risk Factors A ff ecting Firms ’ Financial Performance — Support for Managerial Decision-Making. Sustainability, 11(18), 1–19. https://doi.org/https://doi.org/10.3390/su11184838
Bhat, D. A. (2020). A review of asset liability management models. https://doi.org/10.31235/osf.io/ub69x
Ciptawan, & Frandjaja, B. O. (2022). The Impact Of Current Ratio And Gross Profit Margin Towards Financial Distress In Technology Sector Companies Listed In Indonesia Stock Exchange For Period 2016-2020. Journal of Industrial Engineering & Management Research, 3(1), 197–214. https://doi.org/https://doi.org/10.7777/jiemar
Dalessandro, A. (2013). Effective Strategies for Assets and Liabilities Management. 1–19. https://doi.org/https://dx.doi.org/10.2139/ssrn.2394622
Dianti, N., & Putri, H. (2021). Financial Ratio Analysis To Assess The Company’s Financial Performance On Cv. Fortuna Motorindo Diponegoro Branch Surabaya City. Journal of Economy, Accounting and MManagement Science, 2(2), 114–122. http://wastu.unmerbaya.ac.id/index.php/wastu/index
Emin Öcal, M., Oral, E. L., Erdis, E., & Vural, G. (2007). Industry financial ratios-application of factor analysis in Turkish construction industry. Building and Environment, 42(1), 385–392. https://doi.org/10.1016/j.buildenv.2005.07.023
Fajar, A. (2021). Comparative Analysis of Financial Statements PT . Indofood Sukses Makmur Tbk. International Journal of Multicultural and Multireligious Understanding, 8(3), 244–253. https://doi.org/http://dx.doi.org/10.18415/ijmmu.v8i3.2485
Goh, C. (2019). Optimizing Accounting Decision Making Using Goal Programming. Journal of Corporate Accounting and Finance, 30(1), 161–168. https://doi.org/10.1002/jcaf.22369
Harinurdin, E. (2022). The Influence of Financial Ratio and Company Reputation on Company Stock Prices Financial Sector. MDPI Proceedings, 83(47), 12. https://doi.org/https://doi.org/10.3390/ proceedings2022083047
Hasanaj, P., & Kuqi, B. (2019). Analysis of Financial Statements. Humanities and Social Science Research, 2(2), p17. https://doi.org/10.30560/hssr.v2n2p17
Hasbiyati, I., Desri, R., & Gamal, M. D. H. (2023). Pre-Emptive Goal Programming Method for Optimizing Production Planning. BAREKENG: Jurnal Ilmu Matematika Dan Terapan, 17(1), 0065–0074. https://doi.org/10.30598/barekengvol17iss1pp0065-0074
Hastings, N. A. J. (2009). Physical Asset Management. In Physical Asset Management. Springer Science & Business Media. https://doi.org/10.1007/978-3-319-14777-2_2
Ho, H. P. (2019). The supplier selection problem of a manufacturing company using the weighted multi-choice goal programming and MINMAX multi-choice goal programming. Applied Mathematical Modelling, 75, 819–836. https://doi.org/10.1016/j.apm.2019.06.001
Hoe, L. W., Siew, L. W., & Fun, L. P. (2021). Optimizing the financial management of electronic companies using goal programming model. Journal of Physics: Conference Series, 2070(1). https://doi.org/10.1088/1742-6596/2070/1/012046
Hussain, A., & Kim, H. (2020). Goal-Programming-Based Multi-Objective Optimization in O ff -Grid Microgrids. Sustainability, 12(8119), 1–18. https://doi.org/doi:10.3390/su12198119
Jayathilaka, A. K. K. R. (2020). Operating Profit and Net Profit : Measurements of Profitability. Open Access Library Journal, 7, 1–11. https://doi.org/10.4236/oalib.1107011
Kara, Y. (2019). Measuring the Sustainability of Cities in Turkey with the Analytic Hierarchy Process. Open Journal of Social Sciences, 07(04), 322–334. https://doi.org/10.4236/jss.2019.74025
Karagul, B. Z. (2018). Financial and Technical Analysis of Insurance Sector with Goal Programming Model. Sigma Journal of Engineering and Natural Sciences, 36(2), 1–23.
Khazri, B. S., Dehghan, A., & Aslizadeh, A. (2018). Design and optimization of the asset and liability model based on the multiple-objective decision-making view. Industrial Engineering and Management Systems, 17(2), 311–317. https://doi.org/10.7232/iems.2018.17.2.311
Lakshmi, K. V., Harish Babu, G. A., & Uday Kumar, K. N. (2021). Application of goal programming model for optimization of financial planning: Case study of a distribution company. Palestine Journal of Mathematics, 10(Special Issue 1), 144–150.
Lam, W. S., Lam, W. H., & Lee, P. F. (2021). Decision Analysis on the Financial Management of Shipping Companies using Goal Programming Model. 2021 International Conference on Decision Aid Sciences and Application (DASA).
Lumbantobing, I. P., Sulivyo, L., Sukmayuda, D. N., & Riski, A. D. (2020). The Effect of Debt to Asset Ratio and Debt to Equity Ratio on Return on Assets in Hotel, Restaurant, and Tourism Sub Sectors Listed on Indonesia Stock Exchange for the 2014-2018 Period. International Journal of Multicultural and Multireligious Understanding, 7(9), 176. https://doi.org/10.18415/ijmmu.v7i9.1982
Mashkour, S. C. (2020). Analysis Of Prof . Dr . Saoud Chayed Mashkour Alamry Muthanna University First Edition. Analysis of Financial Statements, January, 1–208. https://www.researchgate.net/publication/338385318_ANALYSIS_OF_FINANCIAL_STATEMENTS
Omrani, H., Valipour, M., & Emrouznejad, A. (2019). Using Weighted Goal Programming Model for Planning Regional Sustainable Development to Optimal Workforce Allocation: An Application for Provinces of Iran. Social Indicators Research, 141(3), 1007–1035. https://doi.org/10.1007/s11205-018-1868-5
Otaka, S. (2020). Rethinking the Concept of Equity in Accounting: Origin and Attribution of Business Profit. Accounting, Economics and Law: A Convivium, 777–795. https://doi.org/10.1515/ael-2019-0018
Pelekh, U. V., Khocha, N. V., & Holovchak, H. V. (2020). Financial statements as a management tool. Management Science Letters, 10(1), 197–208. https://doi.org/10.5267/j.msl.2019.8.003
Peykani, P., Sargolzaei, M., Botshekan, M. H., Oprean-Stan, C., & Takaloo, A. (2023). Optimization of Asset and Liability Management of Banks with Minimum Possible Changes. Mathematics, 11(12), 2761. https://doi.org/10.3390/math11122761
Prasad, A. V. S., & Reddy, Y. R. (2018). Comparison of two weighted goal programming models for financial management of a health care system. 3(2), 363–369.
Razavi, S., Jakeman, A., Saltelli, A., Iooss, B., Borgonovo, E., Plischke, E., Lo, S., Iwanaga, T., Becker, W., Tarantola, S., Guillaume, J. H. A., Jakeman, J., Gupta, H., Melillo, N., Rabitti, G., Chabridon, V., Duan, Q., Sun, X., Kucherenko, S., & Maier, H. R. (2021). The Future of Sensitivity Analysis : An essential discipline for systems modeling and policy support. Environmental Modelling and Software, 137(104954). https://doi.org/10.1016/j.envsoft.2020.104954
Rezaei, J. (2015). Best-worst multi-criteria decision-making method. Omega (United Kingdom), 53, 49–57. https://doi.org/10.1016/j.omega.2014.11.009
Roy, A., Gilbert, S. M., & Lai, G. (2022). The Implications of Strategic Inventory for Short-Term vs. Long-Term Supply Contracts in Nonexclusive Reselling Environments. Manufacturing and Service Operations Management, 24(5), 2629–2647. https://doi.org/10.1287/msom.2022.1114
Schulte, J., & Nissen, V. (2023). Sensitivity analysis of combinatorial optimization problems using evolutionary bilevel optimization and data mining. Annals of Mathematics and Artificial Intelligence, 91, 309–328. https://doi.org/https://doi.org/10.1007/s10472-022-09827-w
Siew, L. W., Hoe, L. W., & Fun, L. P. (2020). Optimizing the Asset and Liability Management of Telecommunication Company using Goal Programming Model. Journal of Electronic & Information Systems, 2(2), 24–29. https://doi.org/10.30564/jeisr.v2i2.2497
Sotoudeh-Anvari, A., Sadjadi, S. J., Molana, S. M. H., & Sadi-Nezhad, S. (2018). A new MCDM-based approach using BWM and SAW for optimal search model. Decision Science Letters, 7(4), 395–404. https://doi.org/10.5267/j.dsl.2018.2.001
Tanwar, J., Vaish, A. K., & Rao, N. V. M. (2020). Mathematical Modeling of Management in Banks Using Goal Programming and Ahp. Indian Journal of Finance and Banking, 4(4), 1–19. https://doi.org/10.46281/ijfb.v4i4.899
Wijayanti, H., Supian, S., Chaerani, D., & Shuib, A. (2023). Optimization of Asset Liability Management on Textile and Garment Companies using Goal Programming Model. Proceedings of the 8th International Conference on the Applications of Science and Mathematics, 15–24.
Xu, Q., Fernando, G., Tam, K., & Zhang, W. (2020). Financial report readability and audit fees: a simultaneous equation approach. Managerial Auditing Journal, 35(3), 345–372. https://doi.org/10.1108/MAJ-02-2019-2177
Yi, H. D., Park, S., & Kim, J. (2019). The effects of business strategy and inventory on the relationship between sales manipulation and future profitability. Sustainability (Switzerland), 11(8), 1–18. https://doi.org/10.3390/su11082377
Yohn, T. L. (2018). Research on the use of financial statement information for forecasting profitability. Accounting & Finance Research, 60(3), 3163–3181. https://doi.org/10.1111/acfi.12394
Aidi, A., Setiawan, T. W., & Junaidi, A. (2022). Analysis of Financial Health Level Using the Z-Score ( Altman ) Method in Transportation Companies Listed on the Indonesia Stock Exchange for the 2019-2021 Period. 3(4), 461–473.
Alam, T. (2022). Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming. Applied System Innovation, 5(6), 128. https://doi.org/10.3390/asi5060128
Alamoudi, M. H., & Bafail, O. A. (2022). BWM—RAPS Approach for Evaluating and Ranking Banking Sector Companies Based on Their Financial Indicators in the Saudi Stock Market. Journal of Risk and Financial Management, 15(10), 0–20. https://doi.org/10.3390/jrfm15100467
Alarjani, A., & Alam, T. (2021). Lexicographic Goal Programming Model for Bank’s Performance Management. Journal of Applied Mathematics, 2021. https://doi.org/10.1155/2021/8011578
Allen-Moyer, K., & Stallrich, J. (2022). Incorporating Minimum Variances into Weighted Optimality Criteria. American Statistician, 76(3), 262–269. https://doi.org/10.1080/00031305.2021.1947375
Avakh Darestani, S., Palizban, T., & Imannezhad, R. (2022). Maintenance strategy selection: a combined goal programming approach and BWM-TOPSIS for paper production industry. Journal of Quality in Maintenance Engineering, 28(1), 14–36. https://doi.org/10.1108/JQME-03-2019-0022
Azaro, K., Djajanto, L., & Sari, P. A. (2020). The Influence of Financial Ratios and Firm Size on Firm Value (An Empirical Study on Manufacturing Companies Sector Consumers Goods Industry Listed in Indonesian Stock Exchange in 2013–2017). 136(Ambec 2019), 142–147. https://doi.org/10.2991/aebmr.k.200415.028
Banik, S., & Bhattacharya, D. (2018). Weighted Goal Programming Approach for Solving Multi-Objective De Novo Programming Problems. International Journal of Engineering Research in Computer Science and Engineering (IJERCSE), 5(2), 2394–2320.
Bărbută-Misu, N., Madaleno, M., & Ilie, V. (2019). sustainability Analysis of Risk Factors A ff ecting Firms ’ Financial Performance — Support for Managerial Decision-Making. Sustainability, 11(18), 1–19. https://doi.org/https://doi.org/10.3390/su11184838
Bhat, D. A. (2020). A review of asset liability management models. https://doi.org/10.31235/osf.io/ub69x
Ciptawan, & Frandjaja, B. O. (2022). The Impact Of Current Ratio And Gross Profit Margin Towards Financial Distress In Technology Sector Companies Listed In Indonesia Stock Exchange For Period 2016-2020. Journal of Industrial Engineering & Management Research, 3(1), 197–214. https://doi.org/https://doi.org/10.7777/jiemar
Dalessandro, A. (2013). Effective Strategies for Assets and Liabilities Management. 1–19. https://doi.org/https://dx.doi.org/10.2139/ssrn.2394622
Dianti, N., & Putri, H. (2021). Financial Ratio Analysis To Assess The Company’s Financial Performance On Cv. Fortuna Motorindo Diponegoro Branch Surabaya City. Journal of Economy, Accounting and MManagement Science, 2(2), 114–122. http://wastu.unmerbaya.ac.id/index.php/wastu/index
Emin Öcal, M., Oral, E. L., Erdis, E., & Vural, G. (2007). Industry financial ratios-application of factor analysis in Turkish construction industry. Building and Environment, 42(1), 385–392. https://doi.org/10.1016/j.buildenv.2005.07.023
Fajar, A. (2021). Comparative Analysis of Financial Statements PT . Indofood Sukses Makmur Tbk. International Journal of Multicultural and Multireligious Understanding, 8(3), 244–253. https://doi.org/http://dx.doi.org/10.18415/ijmmu.v8i3.2485
Goh, C. (2019). Optimizing Accounting Decision Making Using Goal Programming. Journal of Corporate Accounting and Finance, 30(1), 161–168. https://doi.org/10.1002/jcaf.22369
Harinurdin, E. (2022). The Influence of Financial Ratio and Company Reputation on Company Stock Prices Financial Sector. MDPI Proceedings, 83(47), 12. https://doi.org/https://doi.org/10.3390/ proceedings2022083047
Hasanaj, P., & Kuqi, B. (2019). Analysis of Financial Statements. Humanities and Social Science Research, 2(2), p17. https://doi.org/10.30560/hssr.v2n2p17
Hasbiyati, I., Desri, R., & Gamal, M. D. H. (2023). Pre-Emptive Goal Programming Method for Optimizing Production Planning. BAREKENG: Jurnal Ilmu Matematika Dan Terapan, 17(1), 0065–0074. https://doi.org/10.30598/barekengvol17iss1pp0065-0074
Hastings, N. A. J. (2009). Physical Asset Management. In Physical Asset Management. Springer Science & Business Media. https://doi.org/10.1007/978-3-319-14777-2_2
Ho, H. P. (2019). The supplier selection problem of a manufacturing company using the weighted multi-choice goal programming and MINMAX multi-choice goal programming. Applied Mathematical Modelling, 75, 819–836. https://doi.org/10.1016/j.apm.2019.06.001
Hoe, L. W., Siew, L. W., & Fun, L. P. (2021). Optimizing the financial management of electronic companies using goal programming model. Journal of Physics: Conference Series, 2070(1). https://doi.org/10.1088/1742-6596/2070/1/012046
Hussain, A., & Kim, H. (2020). Goal-Programming-Based Multi-Objective Optimization in O ff -Grid Microgrids. Sustainability, 12(8119), 1–18. https://doi.org/doi:10.3390/su12198119
Jayathilaka, A. K. K. R. (2020). Operating Profit and Net Profit : Measurements of Profitability. Open Access Library Journal, 7, 1–11. https://doi.org/10.4236/oalib.1107011
Kara, Y. (2019). Measuring the Sustainability of Cities in Turkey with the Analytic Hierarchy Process. Open Journal of Social Sciences, 07(04), 322–334. https://doi.org/10.4236/jss.2019.74025
Karagul, B. Z. (2018). Financial and Technical Analysis of Insurance Sector with Goal Programming Model. Sigma Journal of Engineering and Natural Sciences, 36(2), 1–23.
Khazri, B. S., Dehghan, A., & Aslizadeh, A. (2018). Design and optimization of the asset and liability model based on the multiple-objective decision-making view. Industrial Engineering and Management Systems, 17(2), 311–317. https://doi.org/10.7232/iems.2018.17.2.311
Lakshmi, K. V., Harish Babu, G. A., & Uday Kumar, K. N. (2021). Application of goal programming model for optimization of financial planning: Case study of a distribution company. Palestine Journal of Mathematics, 10(Special Issue 1), 144–150.
Lam, W. S., Lam, W. H., & Lee, P. F. (2021). Decision Analysis on the Financial Management of Shipping Companies using Goal Programming Model. 2021 International Conference on Decision Aid Sciences and Application (DASA).
Lumbantobing, I. P., Sulivyo, L., Sukmayuda, D. N., & Riski, A. D. (2020). The Effect of Debt to Asset Ratio and Debt to Equity Ratio on Return on Assets in Hotel, Restaurant, and Tourism Sub Sectors Listed on Indonesia Stock Exchange for the 2014-2018 Period. International Journal of Multicultural and Multireligious Understanding, 7(9), 176. https://doi.org/10.18415/ijmmu.v7i9.1982
Mashkour, S. C. (2020). Analysis Of Prof . Dr . Saoud Chayed Mashkour Alamry Muthanna University First Edition. Analysis of Financial Statements, January, 1–208. https://www.researchgate.net/publication/338385318_ANALYSIS_OF_FINANCIAL_STATEMENTS
Omrani, H., Valipour, M., & Emrouznejad, A. (2019). Using Weighted Goal Programming Model for Planning Regional Sustainable Development to Optimal Workforce Allocation: An Application for Provinces of Iran. Social Indicators Research, 141(3), 1007–1035. https://doi.org/10.1007/s11205-018-1868-5
Otaka, S. (2020). Rethinking the Concept of Equity in Accounting: Origin and Attribution of Business Profit. Accounting, Economics and Law: A Convivium, 777–795. https://doi.org/10.1515/ael-2019-0018
Pelekh, U. V., Khocha, N. V., & Holovchak, H. V. (2020). Financial statements as a management tool. Management Science Letters, 10(1), 197–208. https://doi.org/10.5267/j.msl.2019.8.003
Peykani, P., Sargolzaei, M., Botshekan, M. H., Oprean-Stan, C., & Takaloo, A. (2023). Optimization of Asset and Liability Management of Banks with Minimum Possible Changes. Mathematics, 11(12), 2761. https://doi.org/10.3390/math11122761
Prasad, A. V. S., & Reddy, Y. R. (2018). Comparison of two weighted goal programming models for financial management of a health care system. 3(2), 363–369.
Razavi, S., Jakeman, A., Saltelli, A., Iooss, B., Borgonovo, E., Plischke, E., Lo, S., Iwanaga, T., Becker, W., Tarantola, S., Guillaume, J. H. A., Jakeman, J., Gupta, H., Melillo, N., Rabitti, G., Chabridon, V., Duan, Q., Sun, X., Kucherenko, S., & Maier, H. R. (2021). The Future of Sensitivity Analysis : An essential discipline for systems modeling and policy support. Environmental Modelling and Software, 137(104954). https://doi.org/10.1016/j.envsoft.2020.104954
Rezaei, J. (2015). Best-worst multi-criteria decision-making method. Omega (United Kingdom), 53, 49–57. https://doi.org/10.1016/j.omega.2014.11.009
Roy, A., Gilbert, S. M., & Lai, G. (2022). The Implications of Strategic Inventory for Short-Term vs. Long-Term Supply Contracts in Nonexclusive Reselling Environments. Manufacturing and Service Operations Management, 24(5), 2629–2647. https://doi.org/10.1287/msom.2022.1114
Schulte, J., & Nissen, V. (2023). Sensitivity analysis of combinatorial optimization problems using evolutionary bilevel optimization and data mining. Annals of Mathematics and Artificial Intelligence, 91, 309–328. https://doi.org/https://doi.org/10.1007/s10472-022-09827-w
Siew, L. W., Hoe, L. W., & Fun, L. P. (2020). Optimizing the Asset and Liability Management of Telecommunication Company using Goal Programming Model. Journal of Electronic & Information Systems, 2(2), 24–29. https://doi.org/10.30564/jeisr.v2i2.2497
Sotoudeh-Anvari, A., Sadjadi, S. J., Molana, S. M. H., & Sadi-Nezhad, S. (2018). A new MCDM-based approach using BWM and SAW for optimal search model. Decision Science Letters, 7(4), 395–404. https://doi.org/10.5267/j.dsl.2018.2.001
Tanwar, J., Vaish, A. K., & Rao, N. V. M. (2020). Mathematical Modeling of Management in Banks Using Goal Programming and Ahp. Indian Journal of Finance and Banking, 4(4), 1–19. https://doi.org/10.46281/ijfb.v4i4.899
Wijayanti, H., Supian, S., Chaerani, D., & Shuib, A. (2023). Optimization of Asset Liability Management on Textile and Garment Companies using Goal Programming Model. Proceedings of the 8th International Conference on the Applications of Science and Mathematics, 15–24.
Xu, Q., Fernando, G., Tam, K., & Zhang, W. (2020). Financial report readability and audit fees: a simultaneous equation approach. Managerial Auditing Journal, 35(3), 345–372. https://doi.org/10.1108/MAJ-02-2019-2177
Yi, H. D., Park, S., & Kim, J. (2019). The effects of business strategy and inventory on the relationship between sales manipulation and future profitability. Sustainability (Switzerland), 11(8), 1–18. https://doi.org/10.3390/su11082377
Yohn, T. L. (2018). Research on the use of financial statement information for forecasting profitability. Accounting & Finance Research, 60(3), 3163–3181. https://doi.org/10.1111/acfi.12394