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All Journal Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) Jurnal Keuangan dan Perbankan Kinerja Jurnal Widya Manajemen & Akuntansi JAM : Jurnal Aplikasi Manajemen Indonesian Journal of Business and Entrepreneurship (IJBE) International Research Journal of Business Studies (E-Journal) JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi) Abdimas Umtas : Jurnal Pengabdian kepada Masyarakat Business and Finance Journal Ekonis : Jurnal Ekonomi dan Bisnis Jurnal Bisnis dan Akuntansi MABIS: Manajemen dan Bisnis International Journal of Economics, Business and Accounting Research (IJEBAR) Revitalisasi : Jurnal Ilmu Manajemen Review of Management and Entrepreneurship Community Engagement and Emergence Journal (CEEJ) Jurnal Manajemen Jurnal Performa: Jurnal Manajemen dan Start-up Bisnis Jurnal Ilmiah Manajemen Kesatuan Budimas : Jurnal Pengabdian Masyarakat Jurnal Riset Manajemen dan Bisnis BIP'S : Jurnal Bisnis Perspektif Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi) Inkubis: Jurnal Ekonomi dan Bisnis Journal Research of Social Science, Economics, and Management Journal of Business Management and Economic Development International Journal of Review Management Business and Entrepreneurship (RMBE) International Research Journal of Business Studies Jurnal Manajemen Pendidikan Islam
Christian Herdinata
Universitas Ciputra
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Industrial & Manufacturing Engineering Social Sciences Other

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The Influence of Entrepreneurship Education and Its Implementation Herdinata, Christian
BIP's JURNAL BISNIS PERSPEKTIF Vol. 16 No. 2 (2024): Juli
Publisher : Universitas Katolik Darma Cendika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37477/bip.v16i2.554

Abstract

Research related to entrepreneurial education (EU) and its implementation is very important to develop entrepreneurial abilities. Therefore, this research was conducted to determine the influence of EU and its implementation in relation to entrepreneurial capacity (EC), entrepreneurial passion (EP) and entrepreneurial intentions (EI). EC is a person's ability to find, recognize and absorb opportunities before undertaking. Furthermore, PE is the motivating force to influence the recognition by seeing opportunities, the vision, the mission, the decisions and the perseverance to get involved in the business to be built. Furthermore, PE is a person's thinking to form new business concepts and have a career in it. world of entrepreneurship. This research uses a literature study method by reviewing the results of previous research following the steps: (1) identify the research topic to be studied; (2) collect library sources that are relevant to the research topic; (3) read and analyze these library sources comprehensively; (4) identify findings and information relevant to the research topic; (5) organize and compile the findings in the form of a research report. The results of this research show that the EU in its implementation influences the EC, the EP and the EI. Furthermore, this research shows that the EU, EC and EP influence EI. Therefore, educational institutions that want to develop entrepreneurial skills can implement a curriculum based on project-based learning and problem-based learning so that students can directly experience concrete entrepreneurial learning in terms of knowledge, skills and experience. so that they can increase their entrepreneurial intentions and can even develop the business that they have been running since they were students.
Control Mechanism and Value of Firm: Empirical Evidence from Indonesia Capital Market Herdinata, Christian; Tandelilin, Eduardus; Hermeindito, Hermeindito
International Research Journal of Business Studies Vol. 6 No. 1 (2013): April - July 2013
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.6.1.45-62

Abstract

This research discusses about the roles of institutional ownership and leverage as control mechanism over agency conflict and how it affects corporate performance. Agency conflict is a result of expropriation via tunneling on asset utilization. This study uses panel data with a sample of 136 companies in Indonesia between 2001-2012. Simultaneous model testing using Three Stage Least Square estimation technique is also used in this study. Results suggest that institutional ownership and leverage have a non-linear effect on asset utilization. Institutional ownership can be used as a control mechanism at higher levels of ownership. However, when the ownership surpasses certain level, institutional owners will be able to conduct expropriation through tunneling. Low-level leverage will result in expropriation through tunneling by institutional owners. On the other hand, higher level of leverage makes it possible to use leverage as control mechanism. This study also suggests that there is a substitutional correlation between the implementation of control mechanism and leverage. This research also proves that the effect of control mechanism on asset utilization will improvecorporate performance. This research does not specifically investigate the proportions of institutional ownership and leverage as borderline threshold which shows that the two variables can be used as control mechanism. It also implies that the control mechanism over agency conflict which happens as a result of expropriation through tunneling can be done using institutional ownership and leverage. Institutional ownership and leverage must, in this case, be conducted properly towards asset utilization so that it can improve corporate performance. This research provides evidence and solutions for agency conflicts that happen as a result of expropriation through tunneling. This study also contributes to the agency theory testing model by using simultaneousequation and considering non-linear testing method.
Sustainability Orientation, Crowdfunding Engegement Motivation, and Crowdfunding Success in Indonesia Ahmad Junaedi; Christina Whidya Utami; Christian Herdinata
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 4 (2025): JIMKES Edisi Juli 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i4.3389

Abstract

The development of the equity crowdfunding ecosystem in Indonesia, focusing on campaign sustainability is seen to increase the chances of fundraising success by increasing investor trust, social legitimacy, and emotional engagement. This study aims to analyze the effect of sustainability orientation on Equity Crowdfunding campaign performance on platforms regulated by Otoritas Jasa Keuangan, and to describe the mediating role of Crowdfunding Engagement Motivation. The approach applied is a systematic conceptual literature review, by searching for references related to sustainability, investor participation, and crowdfunding performance, then compiled through narrative synthesis. The results of the study indicate that campaigns that prioritize environmental and social elements can increase Crowdfunding Engagement Motivation such as individual value encouragement, community support, and mission alignment which ultimately encourage active investor behavior and success in fundraising. Thus, Crowdfunding Engagement Motivation functions as a positive link between sustainability orientation and Equity Crowdfunding outcomes. The practical implication is that entrepreneurs and managers of Equity Crowdfunding platforms in Indonesia should strategically prioritize sustainability values ​​in campaigns to increase investor participation and funding efficiency. This study is not an empirical study, but a conceptual synthesis that explains theoretical pathways and practical strategies in local Equity Crowdfunding.
Analysis of the Influence of Liquidity, Intellectual Capital, and Capital Structure on Financial Performance in Property Companies Listed on the Indonesia Stock Exchange Ningsih Pribadi, Putri; Santoso, Wiliam; Herdinata, Christian
Journal Research of Social Science, Economics, and Management Vol. 5 No. 5 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i5.1218

Abstract

This study aims to analyze the influence of liquidity, intellectual capital, and capital structure on the financial performance of property companies listed on the Indonesia Stock Exchange (IDX). The research uses a quantitative approach with financial data from property companies over a specific period. Liquidity is measured using the current ratio, intellectual capital is assessed through the Value Added Intellectual Coefficient (VAIC) method, and capital structure is evaluated using the debt-to-equity ratio. Financial performance is measured by return on assets (ROA). The data are analyzed using multiple regression analysis to determine the relationships between the variables. The findings suggest that liquidity has a positive and significant effect on financial performance, while intellectual capital and capital structure show mixed results, with intellectual capital having a significant positive impact and capital structure showing no significant effect. These results highlight the importance of liquidity management and intellectual capital in enhancing financial performance in the property sector. The study provides valuable insights for property companies and investors, emphasizing the need for efficient capital management and leveraging intellectual assets to improve profitability and competitiveness in the market.
Digital Transformation on Competitive Advantage through Customer Experience in Indonesian Companies Gani, Ervina Abdul; Herdinata, Christian; Dewi, Liliana
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 6 (2025): JIMKES Edisi November 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i6.3978

Abstract

Despite the rapid growth of digital transformation in Indonesia, many firms still face challenges such as limited digital literacy, unequal infrastructure, and high implementation costs, which hinder their ability to fully leverage technology to enhance customer experience and achieve a competitive advantage. Drawing on Dynamic Capability Theory, this research examines how digital transformation initiatives influence competitive advantage through enhanced customer experience in the context of a developing economy. The data for this research were collected using an online questionnaire of 350 managers and business leaders from Indonesian companies that have implemented digital transformation initiatives. The sampling criteria included companies with at least one digital transformation initiative implemented in the past two years and respondents with direct involvement in digital transformation programs. Using structural equation modeling for analysis, this study’s results reveal that digital transformation positively influences both directly and indirectly to competitive advantage through customer experience mediation. The findings of this study indicate that customer experience takes a significantly mediating role in translating digital transformation efforts into competitive advantages. Furthermore, the research demonstrates that despite implementation challenges in developing countries, companies can successfully leverage digital transformation to enhance their competitive position through improved customer experience.
Competition Intensity and Innovativeness in MSMEs: The Mediating Effect of Entrepreneurial-Based Intuitive Decision Making Afandi, Eka Prasetia; Herdinata, Christian; Soelistyo, Brandon Orlando
Jurnal Aplikasi Manajemen Vol. 23 No. 4 (2025)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/

Abstract

Empirical evidence explaining how MSMEs transform intense competitive pressures into sustainable innovation through internal strategic mechanisms remains limited, especially in developing countries like Indonesia. Addressing this gap is urgent to identify adaptive decision-making processes that enable MSMEs to remain innovative and resilient in a highly competitive, resource-constrained environment. This study aims to analyze the effect of business competition intensity on innovativeness and entrepreneurial-based intuitive decision making, as well as the impact of such decision making on innovativeness. This study method used purposive sampling and involved 413 MSME actors in East Java as respondents. The data were processed using descriptive analysis and Structural Equation Modeling (SEM) through the AMOS program (Analysis of Moment Structure). The results show that the intensity of business competition has a significant positive effect on both innovativeness and intuitive entrepreneurial decision-making. In addition, intuitive entrepreneurial decision-making also has a significant positive effect on innovativeness. The main novelty of this study is the finding that entrepreneurial-based intuitive decision making can act as a strong mediator in the relationship between business competition intensity and innovativeness. The implications of the study underscore the importance of synergy between entrepreneurial attitudes and intuition to improve decision quality and encourage corporate innovation, especially in a highly competitive environment.
The Role of Value Co-Creation On School Image and Parent Loyalty Ardiana Kurniasari; Christian Herdinata; Burhan Bungin
Nidhomul Haq : Jurnal Manajemen Pendidikan Islam Vol. 10 No. 3 (2025): Transformative Islamic education management
Publisher : Prodi Manajemen Pendidikan Islam Universitas KH Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/ndhq.v10i3.270

Abstract

Increasing competition among educational institutions and the growing involvement of parents in educational services have encouraged schools to adopt more collaborative and value-oriented strategies. However, empirical evidence on how parental value co-creation behavior contributes to school image and parental loyalty, particularly in the context of basic education, remains limited. This study investigates the role of parental value co-creation behavior in shaping school image and fostering parental loyalty in elementary education. Drawing on service-dominant logic, an integrated conceptual framework is proposed in which parental value co-creation behavior influences parental loyalty both directly and indirectly through school image. Data were collected from parents of elementary school students in Surabaya, East Java, Indonesia. A total of 370 online questionnaires were distributed, with 170 valid responses analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The results indicate that both parental participation behavior and parental citizenship behavior have a significant positive effect on school image. Furthermore, school image is found to positively influence parental loyalty and to mediate the relationship between value co-creation behavior and loyalty. These findings suggest that schools that actively encourage and facilitate parental involvement are able to create a supportive and collaborative educational environment, thereby strengthening institutional image and enhancing parental commitment. This study contributes to the limited literature on value co-creation in basic education by empirically demonstrating the mediating role of school image. Practically, the findings highlight the strategic importance of parental involvement as an educational marketing approach to improve school reputation and stimulate positive word-of-mouth. Future studies may involve other stakeholders and explore different regional contexts.
From Intellectual Capital to Firm Performance: The Mediating Role of Agile Strategy Capability in Digital Tourism Innovation Inke Rentandatu; Christian Herdinata; Tommy Christian Efrata
Inkubis : Jurnal Ekonomi dan Bisnis Vol. 8 No. 1 (2026): INKUBIS Jurnal Ekonomi Dan Bisnis
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/inkubis.v8i1.142

Abstract

Background: Research on intellectual capital and firm performance shows mixed results, especially in emerging markets. Most studies focus on direct effects and provide limited understanding of how intellectual resources are strategically transformed into performance outcomes. The mediating roles of agile strategy capability, digital platform capability, and service innovation have rarely been examined within an integrated framework. This study addresses this gap in tourism firms in Eastern Indonesia, a rapidly digitalizing yet structurally constrained emerging market. Objective: This study investigates how intellectual capital improves firm performance through agile strategy capability, with digital platform capability and service innovation as mediating mechanisms. Methods: Drawing on Dynamic Capability Theory and Resource Advantage Theory, this research applies a cross-sectional quantitative design. Data were collected from 280 C-level executives of resorts and hotels in Eastern Indonesia and analyzed using PLS-SEM. Results: Intellectual capital significantly strengthens agile strategy capability, which subsequently enhances service innovation and firm performance. Although intellectual capital also improves digital platform capability, digital platform capability does not significantly influence firm performance. Mediation analysis confirms that agile strategy capability plays a key mediating role, mainly through service innovation, while the digital platform pathway is not significant. Conclusion: Intellectual capital drives firm performance primarily through agile strategy capability and service innovation rather than digital platform capability alone. These findings highlight the importance of strategic agility and service innovation over technology investment in emerging tourism markets.
Generational Dynamic Convergence as a Mechanism for Reducing Intergenerational Friction Rendy Soewitoardjo; Thomas Stefanus Kaihatu; Christian Herdinata
Inkubis : Jurnal Ekonomi dan Bisnis Vol. 8 No. 1 (2026): INKUBIS Jurnal Ekonomi Dan Bisnis
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/inkubis.v8i1.158

Abstract

Background: As organizations play to the strength of generational diversity while working through challenges towards productivity and cohesion, generational diversity is a two-edged sword in the contemporary multigenerational workplace. Objective: This study seeks to create and validate the Generational Dynamic Convergence (GDC) construct that establishes the level of multigenerational diversity so as to diminish intergenerational friction and improve organizational performance in family-owned business in Surabaya, Indonesia. Methods: GDC encompasses four interconnected dimensions based on theories of social behavior, organizational culture, and generational identity: Environmental Perception, Innovation Implementation, Generational Inclusion, and Communication Styles. The reliability and relevance of the GDC dimensions are validated by an Exploratory Factor Analysis (EFA) of data from 120 family-owned businesses in Surabaya, Indonesia. Results: Results indicate that GDC has the ability to bridge the generational gap, promote cooperation, and can be the solution to generational friction by harnessing the respective strengths of Baby Boomers, Generation X, Millennials, and Generation Z and can, as such, serve as a catalyst in creating inclusive, adaptable, resilient, and high-performing organizational cultures. This can be avoided in future consideration as the framework can be extended to different geographical and organizational contexts, making the results and conclusions more generalisable and useful. Conclusion: This research is the first to both identify and validate the GDC construct through EFA and in doing so reveals four distinct dimensions of GDC and show that generational convergence can enhance collaboration, innovation and performance and simultaneously reduce intergenerational conflict.
Building Positive Word Of Mouth: The Strategic Role Of Customer Value And Trust In Tax Consulting Services Pertiwi, Mutiara; Dewi, Yuli Kartika; Herdinata, Christian
Community Engagement and Emergence Journal (CEEJ) Vol. 7 No. 4 (2026): Community Engagement & Emergence Journal (CEEJ)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ceej.v7i4.10782

Abstract

This study aims to empirically examine the influence of Customer Value and Trust on Word of Mouth (WOM) in the context of tax consulting services in Mojokerto, East Java. Using a quantitative approach and survey of 180 corporate taxpayers, this research analyzes the contribution of each variable to WOM after the consumption of tax consulting services. The results show that both Customer Value and Trust have a significant effect on WOM, both directly and through Trust as a mediating variable. The research model demonstrates strong predictive power with an R-Squared value for WOM of 0.896 and a Goodness of Fit of 0.796. The practical implication of this research is the importance for tax consulting firms to enhance customer value and build trust through high-quality service, transparency, and competence. These findings are expected to serve as a reference for companies, taxpayers, governments, and researchers on organic marketing strategies based on Word of Mouth in tax consulting services.
Co-Authors Adella Novita Candra Afandi, Eka Prasetia Ahmad Junaedi Angela Grace Santosa Angelica Satryo Annabella Claudia Kurniadi Annabella Claudia Kurniadi Aqwila, Daniella Claudia Ardiana Kurniasari Aria Ganna Henryanto Arviana, Vanessa Princessa Auditia Setiobudi Audrey Amadea Bramantyo, Paskalis Dio Burhan Bungin Christanty, Nanda Rika Christina Whidya Utami Cliff Kohardinata David Sukardi Kodrat Denny Bernardus Devi Rahnjen Wijayadne Eduardus Tandelilin Eric Harianto Erni Saputri Halim Erwin Setiawan Esfandiani Widyakin Farren Ardina Fitra Muhammad Fauzi Fransisca Desiana Pranatasari Gabriel Aprilia Gani, Ervina Abdul Gavrila Evania Prambudi Gunawan, Novita Cicilia Hana Chyntia Harijanto, Griffin Septian Hermeindito Inke Rentandatu Joko, Fx Agus Kevin kevin Krismi Budi Sienatra Kusuma, Meidiahna Liestya Padmawidjaja Liliana Dewi Linda Setyawati Mutiara Pertiwi Mutiara Pertiwi Ningsih Pribadi, Putri Nusabika, Awdiqit Dwi Olasode, Tikristini Putri, Ayu Novianti Kresna Radiany, Ade Asria Rama Septriduta Surya Negara Rendy Soewitoardjo Retika, Steward Robert Gain Santosa, Angela Grace Sembiring, Murpin Soelistyo, Brandon Orlando Sonata Christian Sudirman, Maya Paramitha Dewanty Susanto, Veronica Puspitasari Thomas Stefanus Kaihatu Tommy Christian Efrata Tri Cahyono Trianggoro Wiradinata Wiliam Santoso Yuli Kartika Dewi