On Tuesday, November 4, 2025, the Faculty of Economics and Business at Trisakti University held an Open Doctoral Promotion Session in Economics with a concentration in Accounting at Campus A, Hendriawan Sie (S) Building, 8th floor. During the event, Dr. Asri Zaldin, SE., Ak., M.Ak., CA, CPA, Asean CPA was awarded his doctorate with a grade of “Very Satisfactory,” becoming the 191st graduate of the doctoral program with a concentration in accounting.

The dissertation, entitled “The Effect of Fintech Innovation, Diversification, and Institutional Ownership on Default Probability, Moderated by Non-Performing Loans in Banking in ASEAN,” examines the effects of Fintech Innovation, Diversification, and Institutional Ownership on Default Probability, moderated by Non-Performing Loans. This research provides a novel approach to measuring Non-Performing Loans by incorporating climate risk in line with SDG 13.

The examination was chaired by Prof. Dr. Yolanda Masnita Siagian, MM., CIRR., CMA, CPMA (Asia), accompanied by Prof. Dr. Etty Murwaningsari, Ak., MM., CA, Head of the Doctoral Program in Economics, Accounting Concentration and Promoter, and co-promoter Dr. Sekar Mayangsari, Ak., CA., CMA. The examining panel consisted of Prof. Dr. Titik Aryati, Ak., M.Sc., CA, Dr. Harti Budi Yanti, S.E., Ak., M.Si, Dr. Indra Saputra, M.Si., Ak., CA, External Examiner Prof. Dr. Aminullah Assagaf, S.E., M.M., M.Ak.

 The significance of this research is the development of a new measurement for net non-performing loans, namely the credit granting ratio, which refers to the Financial Services Authority Circular Letter Number 9/SEOJK.03/2020 concerning transparency and publication of conventional commercial bank reports, taking into account potential climate risks. The use of SEOJK Number 9/SEOJK.03/2020 is essential as a more appropriate and relevant alternative measurement for business risk.

 The results of this study indicate (1) there is no positive effect of fintech innovation on the probability of default, (2) there is a negative effect of diversification on the probability of default, (3) there is no negative effect of institutional ownership on the probability of default, (4) there is no positive effect of non-performing loans moderating fintech innovation on the probability of default, (5) there is no negative effect of non-performing loans moderating diversification on the probability of default and (6) there is no negative effect of non-performing loans moderating institutional ownership on the probability of default. The sensitivity test uses climate risk as a measure of non-performing loans and provides consistent results with the primary test. The expansion test using four ASEAN countries, such as Indonesia, Malaysia, Thailand, and Singapore, found a new dimension of impairment loss reserves with a very significant effect.

With this achievement, Dr. Asri Zaldin is expected to contribute to encouraging companies to commit to budget risk mitigation, green budget allocation, and cybersecurity to create a budget risk management system that can increase risk awareness, help control the negative impacts of climate change and global warming, and improve corporate data cybersecurity.