Anggoro is a full-time faculty in Bandung Institute of Technology (ITB) School of Business and Management. He finished his bachelor study in Finance, Gadjah Mada University (2003) with the final project of state-owned enterprise corporate restructuring impact on financial performance in PT. Telekomunikasi Indonesia, Tbk, and MBA in business risk and finance with cum laude from ITB (2009). In 2003, he also received International Course on International Economics & Business Management from University of Applied Sciences Schmalkalden, Thuringen, Germany, and now pursuing his PhD in France.

His master thesis is concerned with risk management in the financial industry. His career stretched from a junior economist in Penelitian dan Pengembangen Ekonomi (PPE) Gadjah Mada University (2004), Procurement Analyst in ConocoPhillips Indonesia (2009), expert staff of Indonesia President Unit for Development Monitoring and Oversight/UKP4 (2011), and ITB lecturer (2011-today). Today he is part of the Department of Finance in the faculty.

He has an interest in corporate finance, economics, and financial institutions such as capital markets and banking issues. His papers such as “Modigliani-Miller Revisited: Capital Structure Impact on Indonesia’s Cigarette Companies Value” (2013), “Cointegration Analysis of Indonesian Money Market Term Structure: Testing for Expectation Hypothesis“ (2013), and “Advantages of Investing on Sharia Financial Instruments Using Modern Portfolio Theory Approach” (2014), accepted various Best Paper awards from international conferences he presented in.

He published a number of books, which are “History of Economic Thoughts” (2018), “Growth and Stability: A Collection of Essays in Public Media” (2016), both of which are in Indonesian language, and “Financial Intermediation and Market Discipline in Indonesian Banking Sector” (2014).

He is now a research fellow and teaching fellow in France, where he is pursuing his PhD.

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‘Menghadang’ atau mendukung Undang-Undang, ada kaidahnya. -anggorobudinugroho.com
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PERASAAN MENDERITA – Kompas, Kamis 14 Februari 2019

Anggoro Budi Nugroho, Ekonom. “Miseriae sensu”, dalam bahasa Latin artinya ‘perasaan menderita’. Ungkapan ini menunjukkan sebuah perasaan akan sulitnya hidup yang selalu ada dalam setiap zaman,...

Curriculum Vitae



    • Bachelor of Economics, Gadjah Mada University
    • MBA with cum laude, ITB School of Business
    • PhD (Cand.) in France


    • Economic Researcher, PPE University of Gadjah Mada Faculty of Economics and Business.
    • Lecturer, School of Business and Management (SBM),
      Bandung Institute of Technology (ITB), Indonesia
    • Expert Staff, Indonesia President Office for Development Acceleration and Oversight (UKP4), Jakarta
    • Expert Team. West Java Province Parliamentary Decree (Raperda) analysis on Entrepreneurship
    • Selection Team. Republic of Indonesia Commission for General Election (KPU), for West Java Province team members
    • Research fellow and Reaching fellow in France.


History of Economic Thoughts

Bahasan buku tentang lintasan pemikiran ekonomi dari zaman ke zaman, berikut berbagai fakta yang jarang diketahui oleh masyarakat, dan bermaksud...


  • Advantages of Investing on Sharia Financial Instruments Using Modern Portfolio Theory Approach, 2014. 7th Asia-Pacific Business Research Conference (Best Paper Award)
  • Proving Modigliani and Miller Theories of Capital Structure: The Research on Indonesia’s Cigarette Companies. 2013. International Journal of Economic Sciences, Vol. II No. 3. International Institute for Social and Economic Sciences (IISES), 7th International Academic Conference, Prague, Czech Republic (Best Paper Award)
  • Term Structure Examination of Indonesian Money Market: Some Efficiency Issues. 2011. SIBR International Conference, Kuala Lumpur, Malaysia. (Best Paper Award)

ABN 2024