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Market Competition and Agency Problem: a Study in Indonesian Manufacturing Companies Nugroho, Ahmad Cahyo; Stoffers, Jol
JDM (Jurnal Dinamika Manajemen) Vol 11, No 1 (2020): March 2020 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v11i1.21684

Abstract

This research examines the relationship between firm investment and market competition, market position and market position as market leader. This study analyzes agency problems in manufacturing companies’ investment decisions by considering market competition, since market competition is considered as one of essential factor that affect the firm investment. Further, high competition signals company’s increased investment, that leads to business efficiency. Investment decisions are important for companies to survive, and more competitive companies are likely to conduct more risky activities, especially regarding capital expenditures for investments. This study uses the dynamic panel data method, which includes annual financial report of 100 listed manufacturing companies on IDX from 2007 to 2016. The companies were selected after sorting using several criteria, such as completeness of financial report and being registered on IDX during the period. Results suggest that leverage improves management control functions, and competition increases a company’s investments to maintain its position in the market. Competition is not strengthened or weakened by sales growth and there are indications of herding behavior following market leaders.
How Do Online Reviews on YouTube Construct Perception? Fatmasari, Fajria; Febrianto, Dedi; Nugroho, Ahmad Cahyo
ADMAN: Journal of Contemporary Administration and Management Vol 1 No 3 (2023): December 2023
Publisher : PT. LITERASI SAINS NUSANTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61100/adman.v1i3.95

Abstract

Online reviews are a step to communicate various brands or products. Product reviews usually contain product features, advantages, and disadvantages, as well as other products for comparison. Electronic product reviews conducted online on YouTube channels are the object of this research. With certain criteria, five videos were obtained as review objects that will be studied in this research. The 458 dataset of audience comments on this review will be studied qualitatively using machine learning in the form of software of Nvivo, as well as internet ethnography and pragmatics. From the analysis results, it is known that each electronic product review video provides positive, negative or neutral perceptions and attitudes from the audience. Audience sentiment is formed from product features, images of reviewers, how it was reviewed, and product image. By the limitation of the research, it needs to be developed further with different methods and objects to provide more input to producers or reviewers.
Short-Term Impact of COVID-19 Pandemic in Indonesian Stock Prices Nugroho, Ahmad Cahyo; Herlambang, Sigit; Gusnanto, Arief
JDM (Jurnal Dinamika Manajemen) Vol 13, No 2 (2022): September 2022
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v13i2.35255

Abstract

The Indonesian stock market is unique because of its economic relations with China and the United States, the world’s two biggest economies that are severely impacted by the COVID-19 pandemic. This study examines the short-term impact of the COVID-19 pandemic on stock price movements on the Indonesian stock exchange. Our investigation identifies patterns of market responses in terms of stock price movements in the period. We find that the outbreak has affected, in terms of market response, the manufacturing and non-manufacturing stocks similarly. The impact of the outbreak seems to be felt by almost all economic sectors in a similar way. However, based on the result, the investors’ perception of the finance sector is more favorable relative to the other sectors during the pandemic. Several stocks identified have the potential to re-bounce if market conditions return to normal.
Market Competition and Agency Problem: a Study in Indonesian Manufacturing Companies Nugroho, Ahmad Cahyo; Stoffers, Jol
JDM (Jurnal Dinamika Manajemen) Vol 11, No 1 (2020): March 2020
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v11i1.21684

Abstract

This research examines the relationship between firm investment and market competition, market position and market position as market leader. This study analyzes agency problems in manufacturing companies’ investment decisions by considering market competition, since market competition is considered as one of essential factor that affect the firm investment. Further, high competition signals company’s increased investment, that leads to business efficiency. Investment decisions are important for companies to survive, and more competitive companies are likely to conduct more risky activities, especially regarding capital expenditures for investments. This study uses the dynamic panel data method, which includes annual financial report of 100 listed manufacturing companies on IDX from 2007 to 2016. The companies were selected after sorting using several criteria, such as completeness of financial report and being registered on IDX during the period. Results suggest that leverage improves management control functions, and competition increases a company’s investments to maintain its position in the market. Competition is not strengthened or weakened by sales growth and there are indications of herding behavior following market leaders.
The Influence of Financial Literacy and Financial Attitude on Investment Behavior: The Mediating Effect of Self-Control in Generation Z Ahmad Cahyo Nugroho; Istiharini Istiharini
Jurnal Ilmiah Manajemen Kesatuan Vol. 14 No. 3 (2026): JIMKES Edisi Mei 2026
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v14i3.5206

Abstract

The expansion of digital technology increases Generation Z’s involvement in financial markets, yet also elevates the risk of impulsive and speculative choices driven by behavioral biases. This study aims to evaluate the influence of financial literacy and financial attitude on investment behavior among Generation Z in Jakarta, while explicitly examining self-control as an intervening mechanism. Utilizing a quantitative approach with an explanatory research design, primary data were gathered through structured online questionnaires from 200 active investors selected via non-probability purposive sampling. Data processing was executed using Partial Least Squares-Structural Equation Modeling (PLS-SEM) managed through SmartPLS. The empirical findings reveal that financial literacy and financial attitude exert direct, positive, and significant influences on self-control and investment behavior. Self-control serves as a vital psychological bridge that partially mediates both relationships, demonstrating that cognitive knowledge and positive mindsets are significantly optimized when channeled through personal self-discipline. These insights carry substantial practical implications for financial educators and policymakers, indicating that successful youth financial initiatives must look beyond mere conceptual knowledge by comprehensively redesigning educational frameworks to actively cultivate future-oriented mindsets and digital self-regulation techniques.