Melola Discovery

← Melola Discovery

Open access Journal

Improving Risk Management Maturity in Ultra Micro SOE Holding Companies

Aptisi Transactions on Technopreneurship (ATT) · Vol. 8 No. 1 (2026) · pp. 310–324

DOI
10.34306/att.v8i1.675
ISSN
2656-8888, 2655-8807
Published
2026-02-12
Publisher
Pandawan
Language
en
License
creativecommons.org/licenses/by/4.0

Abstract

The dynamics of global business are highly developed along with technological advances. This also happens to state-owned enterprises which are then merged into Ultra Micro (UMi) holding consisting of PT Bank Rakyat Indonesia Tbk (BRI), PT Pegadaian, and PT Permodalan Nasional Madani (PNM). For this reason, it is necessary to have the right strategy to improve risk management maturity in this UMi holding. The research used the Analytic Hierarchy Process (AHP) approach. This research methodology is descriptive-analytical, with the aim of describing and analysing the factors that influence risk management in ultra-micro holding, as well as identifying the best alternative strategies based on the comparison of relevant criteria. The questionnaire was distributed to 16 respondents consisting of experts (lecturers, Financial Services Authority (OJK), Bank Indonesia (BI), BRI, PT Pegadaian, and PNM. These findings indicate that based on the priority of the most impactful factor is Leadership, the actor is Holding BOD, the goal is Improved leadership quality and holding risk culture, while the alternative strategy Evaluate and improve the holding's integration plan (HR, operational and business) including risk management aspects. This finding shows that leadership is very important in the process of margers and acquisitions in order to improve risk management maturity. This research contributes to achieving Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), and SDG 16 (Strong Institutions) by developing AHP-based strategies for improving risk management maturity in ultra-micro SOE holding companies, thereby enhancing their capacity to support inclusive economic development.

Keywords

Collaboration network of the authors

15 authors · 30 co-authorship links

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • IPB University
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Ujang SumarwanIPB University2
Arif Imam SurosoIPB University1
Trukan Sri BahukelingAffiliation unknown1
Agus BuonoAffiliation unknown1
Lilik Noor YuliatiIPB University1
Elke AlexandrinaAffiliation unknown1
Alfri AdiwijayaAffiliation unknown1
Muchlisina MadaniAffiliation unknown1
SyahidunAffiliation unknown1
Yasir Mustafa KareemAffiliation unknown1
Putri PuspitasariAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://att.aptisi.or.id/index.php/att/oai, first harvested 6 Nov 2026, last seen 6 Nov 2026.
Original metadata (oai_dc) 
<oai_dc:dc xmlns="http://www.openarchives.org/OAI/2.0/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:oai_dc="http://www.openarchives.org/OAI/2.0/oai_dc/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/  http://www.openarchives.org/OAI/2.0/oai_dc.xsd">
	<dc:title xml:lang="en">Improving Risk Management Maturity in Ultra Micro SOE Holding Companies</dc:title>
	<dc:creator xml:lang="en">Susetyono, Eko</dc:creator>
	<dc:creator xml:lang="en">Priyarsono, Dominicus Savio</dc:creator>
	<dc:creator xml:lang="en">Sukmawati, Anggraini</dc:creator>
	<dc:creator xml:lang="en">Nurhayati, Popong</dc:creator>
	<dc:subject xml:lang="en">AHP</dc:subject>
	<dc:subject xml:lang="en">Marger</dc:subject>
	<dc:subject xml:lang="en">Maturity</dc:subject>
	<dc:subject xml:lang="en">Risk Management</dc:subject>
	<dc:subject xml:lang="en">Ultra-Micro</dc:subject>
	<dc:description xml:lang="en">The dynamics of global business are highly developed along with technological advances. This also happens to state-owned enterprises which are then merged into Ultra Micro (UMi) holding consisting of PT Bank Rakyat Indonesia Tbk (BRI), PT Pegadaian, and PT Permodalan Nasional Madani (PNM). For this reason, it is necessary to have the right strategy to improve risk management maturity in this UMi holding. The research used the Analytic Hierarchy Process (AHP) approach. This research methodology is descriptive-analytical, with the aim of describing and analysing the factors that influence risk management in ultra-micro holding, as well as identifying the best alternative strategies based on the comparison of relevant criteria. The questionnaire was distributed to 16 respondents consisting of experts (lecturers, Financial Services Authority (OJK), Bank Indonesia (BI), BRI, PT Pegadaian, and PNM. These findings indicate that based on the priority of the most impactful factor is Leadership, the actor is Holding BOD, the goal is Improved leadership quality and holding risk culture, while the alternative strategy Evaluate and improve the holding's integration plan (HR, operational and business) including risk management aspects. This finding shows that leadership is very important in the process of margers and acquisitions in order to improve risk management maturity. This research contributes to achieving Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), and SDG 16 (Strong Institutions) by developing AHP-based strategies for improving risk management maturity in ultra-micro SOE holding companies, thereby enhancing their capacity to support inclusive economic development.</dc:description>
	<dc:publisher xml:lang="en">Pandawan</dc:publisher>
	<dc:date>2026-02-12</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://att.aptisi.or.id/index.php/att/article/view/675</dc:identifier>
	<dc:identifier>10.34306/att.v8i1.675</dc:identifier>
	<dc:source xml:lang="en">Aptisi Transactions on Technopreneurship (ATT); Vol. 8 No. 1 (2026): March; 310-324</dc:source>
	<dc:source xml:lang="id">Aptisi Transactions On Technopreneurship (ATT); Vol 8 No 1 (2026): March; 310-324</dc:source>
	<dc:source>2656-8888</dc:source>
	<dc:source>2655-8807</dc:source>
	<dc:source>10.34306/att.v8i1</dc:source>
	<dc:language>en</dc:language>
	<dc:relation>https://att.aptisi.or.id/index.php/att/article/view/675/449</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2026 Eko Susetyono, Dominicus Savio Priyarsono, Anggraini Sukmawati, Popong Nurhayati</dc:rights>
	<dc:rights xml:lang="en">https://creativecommons.org/licenses/by/4.0</dc:rights>
</oai_dc:dc>