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Determinants of Company Value: Empirical Evidence from Consumer Goods Industrial Companies in Indonesia Purnama, Maria Goreti; Yuniarti, Sari; Terdpaopong, Kanitsorn; Subiyantoro, Edi; Khouroh, Umu
Jurnal Manajemen Bisnis Vol 15, No 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.20114

Research Aims: Investors focus on a company's value before investing, which can benefit shareholders. This study, thus, investigates how factors like liquidity, debt, profits, growth, and investment opportunities affect a company's value, with dividend policy playing a role.Design/Methodology/Approach: This study examined companies in the consumer goods industry listed on the IDX from 2018 to 2021. The authors collected data from 71 selected companies using purposive sampling. The analysis method employed was Moderating Regression Analysis (MRA).Research Findings: The findings demonstrated that Debt to Asset Ratio (DAR), Return on Assets (ROA), and Investment Opportunity Set (IOS) strongly affected Price to Book Value (PBV) positively. However, Current Ratio (CR) and Growth did not significantly affect PBV. Additionally, the Dividend Payout Ratio (DPR) did not influence the relationship between CR, DAR, and Growth with PBV. Also, it did moderate the relationship between ROA and IOS with PBV.Theoretical Contribution/Originality: The research findings contribute to our understanding of the factors that impact the market value of companies in the consumer goods industry listed on the IDX.Practitioners/Policy Implications: It is crucial to examine specific variables that have a significant impact on PBV, while other variables may not play a vital role. This can help practitioners, academics, and investors make more informed decisions based on in-depth analysis of company performance and value.Research Limitations/Implications: The limitations include limited panel data, a single industry focus, the absence of supportive data on individual company investment variations, and no consideration of industry risk, market policies, or investor preferences.

Kapabilitas Dinamik dan Keunggulan Bersaing: Dinamisme Lingkungan Moderator ataukah Driver? Irany Windhyastiti; Khouroh, Umu; Windhyastiti, Irany; Ratnaningsih, Christina Sri
Jurnal Samudra Ekonomi dan Bisnis Vol 12 No 1 (2021)
Publisher : Fakultas Ekonomi Universitas Samudra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33059/jseb.v12i1.2322

The aim of this study is to investigate the role of environmental dynamism in relation to dynamic capabilities and competitive advantage. This study uses a quantitative approach and type of explanatory research. The survey was conducted at 130 MSMEs in Malang Raya. Hypothesis testing using SEM-PLS. The findings of the study prove that environmental dynamism is a driver for dynamic capability, while providing evidence that environmental dynamism acts as a negative moderator for achieving competitive advantage. Another finding is that dynamic capabilities have a major effect on competitive advantage while simultaneously acting as fully mediating environmental dynamism with competitive advantage. The implication is important for MSMEs to develop dynamic capabilities in order to deal with environmental dynamism so that MSMEs can increase competitive advantage because if they do not develop dynamic capabilities, environmental dynamism will reduce MSME's competitive advantage.

Efek Moderasi Kebijakan Dividen pada Profitabilitas terhadap Nilai Perusahaan Manufaktur Irany Windhyastiti; Febriana, Melati; Windhyastiti, Irany; Khouroh, Umu; Ratnaningsih, Christina Sri
Business Management Research Vol 3, No 1 (2024): January 2024
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/bismar.v3i1.13458

This research aims to determine the effect of dividend policy as a moderating variable on the influence of profitability on firm value. The population used in this research includes all manufacturing companies listed on the IDX from 2018 to 2022 and the sample was obtained using a purposive sampling method with predetermined criteria and resulted in 9 selected companies from 22 companies. The data analysis technique used is moderated regression analysis (MRA) using the SPSS (Statistical Program for Social Science) appli cation to calculate research data. The results of the research show that: ROA has a negative and significant influence on company value, ROE has a positive and significant influence on company value, Dividend policy has a positive and insignificant influence on value company, Dividend policy is unable to moderate the influence of ROA and ROE on company value

Peran Promosi Penjualan “Korean Wave” sebagai Mediator Brand Ambassador dengan Minat Beli Konsumen Produk “Somethinc” Angelia, Monica; Khouroh, Umu
Business Management Research Vol 2, No 1 (2023): January 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/bismar.v2i1.9529

This study investigates the effect of brand ambassadors and sales promotion on purchase intention and the mediating role of sales promotion in the relationship between brand ambassadors and purchase intention. The research was conducted through a closed survey and Partial Least Square modeling on a sample of consumers who had used cosmetic “somethinc”. The results of the study show that brand ambassadors do not influence consumers’ purchase intention, on the contrary, sales promotion influences purchase intention positively. Another finding is that sales promotion mediates the relationship between brand ambassadors and purchase intention. Therefore, this paper highlights the importance of paying attention to sales promotions that are used to increase purchasing intention which ends in purchasing decisions. Although the findings of this study are limited to brand ambassadors and sales promotion, this opens the way for further research on this topic, especially regarding the various perceptions of sales promotion carried out and appropriate sales promotion techniques, both among academics and marketing practitioners.

Peran Influencer dalam Investasi Cryptocurrency: Literasi Keuangan Digital Mediator ataukah Moderator? Wijaya, Lientang; Kusuma, I Gede Wahyu Artha; Khouroh, Umu
Business Management Research Vol 3, No 2 (2024): July 2024
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/bismar.v3i2.14050

In the context of significant growth in cryptocurrency in Indonesia, investment influencers on social media often provide information that affects investment behavior. Digital financial literacy becomes crucial in ensuring wise investment decisions, especially in understanding the risks and potential benefits of cryptocurrency. This research explores the role of influencers in cryptocurrency investments in Indonesia, with a focus on digital financial literacy as a mediating factor. Data were collected using a survey method with a sample of 100 respondents. Data analysis employed SEM-PLS. The study results indicate that influencers and digital financial literacy affect cryptocurrency investment decisions. Digital financial literacy acts as a mediator, not a moderator. These findings highlight the importance of comprehensive financial education in addressing this increasingly popular investment trend.

Peran Mediasi Strategi Coping dalam Hubungan antara Stres dengan Kinerja Akademik Mahasiswa Kelas Karyawan Ningsih, Tasya Aprilia; Musnaini, Musnaini; Khouroh, Umu
Business Management Research Vol 3, No 1 (2024): January 2024
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/bismar.v3i1.13457

This research is exploratory in nature and aims to explore the relationship between stress, coping strategies, and academic performance among working-class students. The research adopted a survey questionnaire design. Data on the causes of stress among working-class students and its impact on their academic performance were collected using a questionnaire. The research sample was working-class students. In total, 50 complete and valid questionnaires were obtained for further analysis. The data were analyzed using SEM-PLS. The results show that stress does not impact performance, but the coping strategies used can mediate this impact. The conceptual model developed in this research can provide a basis for how to address stress in order to improve academic performance and understand how the academic environment should be designed to address these issues.

Unlocking The Puzzle: Locus of Control, Fintech and Financial Literacy in Shaping Financial Behavior Kiswanti, Hanny Mahasih; Khouroh, Umu; Yuniarti, Sari; Begum, Farhana; Herdiyanti, Indyah
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 7, No. 4, December 2023
Publisher : Faculty of Economics, Universitas Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29259/sijdeb.v7i4.371-392

This study is intended to analyze the financial management behavior of merchants in Pasar Besar, Malang City interms of locus of control and fintech perspectives by presenting financial literacy as a mediation variable. The research design used is quantitative with explanatory research methods. The study population is merchants in Pasar Besar, Malang City with probability sampling techniques using the simple random sampling method. Data analysis techniques using partial least square-structural equation model (PLS-SEM). The results showed that locus of control and fintech have a significant positive effect on financial management behavior; Locus of control and fintech have a significant positive effect on financial literacy. The results also stated that financial literacy can mediate the influence of locus of control and fintech on financial management behavior.

The Effect of Employee Engagement and Work-life Balance to Employee Performance with Job Satisfaction as a Mediation Variable in Lavalette Hospital Malang Panji Arik Indraswara; Umu Khouroh; Andini Risfandini
ePaper Bisnis : International Journal of Entrepreneurship and Management Vol. 1 No. 3 (2024): September : ePaper Bisnis : International Journal of Entrepreneurship and Manag
Publisher : Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/epaperbisnis.v1i3.88

Hospitals are a health service industry which are now increasingly required to continue to adapt to developments and provide the best service for the community. Now, the current very tight competition requires hospitals to continue to improve the quality of their services. Lavalette Hospital is developing and continues to strive to provide the best service to the community by improving the performance of human resources. There are many factors that can influence employee performance, including employee engagement, work-life balance and job satisfaction as factors that can strengthen this influence. For this reason, this research aims to analyze the influence of employee engagement, work-life balance on employee performance with job satisfaction as a mediating variable at Lavalette Hospital Malang. The sample in this study was 167 respondents consisting of PWT and PWTT employees using a simple random sampling. The data collection technique uses a Google form which is distributed to respondents. Data analysis was carried out using SEM PLS analysis using SmartPLS 4.0. The research results showed that:1.Employee engagement has a significant effect on job satisfaction, 2.Work-life balance has a significant effect on job satisfaction,3.Employee engagement has a significant effect on employee performance,4.Work-life balance has a significant effect on employee performance,5.Job satisfaction has a significant effect on employee performance,6.Employee engagement has a significant effect on performance employees with job satisfaction as a mediating variable,7.Work-life balance does not have a significant effect on employee performance with job satisfaction as a mediating variable.

Determinants of Company Value: Empirical Evidence from Consumer Goods Industrial Companies in Indonesia Purnama, Maria Goreti; Yuniarti, Sari; Terdpaopong, Kanitsorn; Subiyantoro, Edi; Khouroh, Umu
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.20114

Research Aims: Investors focus on a company's value before investing, which can benefit shareholders. This study, thus, investigates how factors like liquidity, debt, profits, growth, and investment opportunities affect a company's value, with dividend policy playing a role.Design/Methodology/Approach: This study examined companies in the consumer goods industry listed on the IDX from 2018 to 2021. The authors collected data from 71 selected companies using purposive sampling. The analysis method employed was Moderating Regression Analysis (MRA).Research Findings: The findings demonstrated that Debt to Asset Ratio (DAR), Return on Assets (ROA), and Investment Opportunity Set (IOS) strongly affected Price to Book Value (PBV) positively. However, Current Ratio (CR) and Growth did not significantly affect PBV. Additionally, the Dividend Payout Ratio (DPR) did not influence the relationship between CR, DAR, and Growth with PBV. Also, it did moderate the relationship between ROA and IOS with PBV.Theoretical Contribution/Originality: The research findings contribute to our understanding of the factors that impact the market value of companies in the consumer goods industry listed on the IDX.Practitioners/Policy Implications: It is crucial to examine specific variables that have a significant impact on PBV, while other variables may not play a vital role. This can help practitioners, academics, and investors make more informed decisions based on in-depth analysis of company performance and value.Research Limitations/Implications: The limitations include limited panel data, a single industry focus, the absence of supportive data on individual company investment variations, and no consideration of industry risk, market policies, or investor preferences.

The Role of E-Wallets, Service Quality, and Social Entrepreneurship in Enhancing Business Competitiveness Irany Windhyastiti; Prastyawan, Ayub; Puspaari, Ernita Dian; Windhyastiti, Irany; Khouroh, Umu
Journal of Entrepreneurship and Business Vol. 5 No. 3 (2024): Journal of Entrepreneurship and Business (October)
Publisher : Program MM Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jeb.v5i3.6507

Purpose: This paper investigates the impact of using e-wallets, service quality, and social entrepreneurship on the competitiveness of MSMEs participants. Method: This study used a sample of 105 respondents who were active members of MSMEs in Sukun Market. These respondents ranged in age from 17 to 72 years old, indicating a broad spectrum of age groups and experiences, which provides a broad understanding of the demographic involved in MSMEs within this area. The method employed in this research included validity and reliability tests to examine the research instrument: a questionnaire, determination coefficient (R-Square), F-Square testing, and hypothesis testing. The testing was conducted using simple regression analysis. Result: The result of the study indicates that the use of e-wallets, service quality, and social entrepreneurship has a 66 percent influence on the competitiveness of MSMEs participants. Therefore, the variables have a positive and significant effect on the competitiveness of MSMEs participants in Sukun Market, Tanjungrejo Village, Malang City.

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