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PENGARUH E-SERVICE QUALITY, KESADARAN MEREK, KEPERCAYAAN, WORD OF MOUTH, DAN KEPUASAN TERHADAP LOYALITAS PELANGGAN: Studi Pada Pelanggan Tiktok Shop Murhadi, Werner Ria; Reski, Eva Cahaya
Jurnal Ilmiah Bisnis dan Ekonomi Asia Vol 16 No 2 (2022): Jurnal Ilmiah Bisnis dan Ekonomi Asia
Publisher : LP2M Institut Teknologi dan Bisnis Asia Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32815/jibeka.v16i2.471

Abstract

This study aims to analyze e-service quality, brand awareness, trust, word of mouth, and satisfaction with customer loyalty at TikTok shops (study on TikTok shop customers). Data were collected through a survey with 151 respondents. The study used primary data obtained from the distribution of online questionnaires. The respondents are Indonesian people who have made purchases on the TikTok Shop application. Non-probability sampling was used for sampling. This research uses a structural equation modeling approach. In this study, it was found that there is a positive influence between E-service Quality and customer trust. The study also found that E-service Quality had a positive effect on customer satisfaction and a positive effect on Brand Awareness on customer trust. Other findings are that there is a positive influence on Brand Awareness on customer satisfaction, and the results also found a positive influence on customer satisfaction on customer loyalty. Meanwhile, Word of Mouth's effect on customer trust was not found, and there was no significant effect between customer trust and customer loyalty.
None Memimpin Pasar dengan Optimalisasi Distribusi: Formulasi Strategi bagi PT. Avia Avian, Tbk.: None Novina, Emma; Murhadi, Werner R
JIMEK : Jurnal Ilmiah Mahasiswa Ekonomi Vol. 7 No. 02 (2024): JIMEK VOLUME 7 NO 2 2024
Publisher : Fakultas Ekonomi Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/jimek.v7i02.6021

Abstract

The aim of this research was to analyze the strategies that companies can adopt to overcome intense market competition. The study focused on strategy formulation, employing a quantitative method that included strategic management steps applicable to PT. Avia Avian, Tbk. in the paint and coatings industry. The research involved examining the company's internal and external environments to identify the strengths, weaknesses, opportunities, and threats (SWOT) of PT. Avia Avian, Tbk. The results of the SWOT analysis were then incorporated into several matrices, including EFE, IFE, CPM, TOWS, SPACE, BCG, IE, GSM, and QSPM. The strategy recommended for PT. Avia Avian, Tbk. was market penetration, considering the global trend of decreasing consumer standards for paint purchases and shifts in national urbanization patterns that favor the company's position. This strategy enables the company to optimize the distribution of its centers throughout Indonesia.
The Role of ESG (Environmental, Social, Governance) on Dividends and Firm Value: The Moderation Effect of Audit Quality Handajani, Clarissa Dominique Effendi; Murhadi, Werner R.
Media Ekonomi dan Manajemen Vol 40, No 1 (2025): January 2025
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56444/mem.v40i1.5397

Abstract

This research will examine the influence of ESG (Environmental, Social, Governance) and its components on dividends and firm value. Furthermore, the quality and credibility of information in the market will also influence stakeholder assessments. The important role of audit quality in providing assurance on this information is needed. By using multiple linear regression on 252 firm years from companies listed in IDX 2020-2023 that meet the sample criteria, it was found that ESG has not been able to significantly influence dividends and firm value. However, environmental can influence dividends in a positive way, while governance can influence firm value in a negative way. Even though dividends and audit quality can influence firm value in a positive way, audit quality still cannot increase the influence of dividends on firm value. Audit quality also cannot increase the influence of ESG on dividends. In this case, inefficient ESG practices followed by poor audit quality are the main factor of this insignificant influence. It takes time for ESG investments to influence company performance, which has an impact on high dividend payout ratios and firm value.
STRATEGIC MANAGEMENT PT PHAPROS TBK Pusparani, I Gusti Ayu; Murhadi, Werner R.
International Journal of Social Service and Research Vol. 4 No. 11 (2024): International Journal of Social Service and Research
Publisher : Ridwan Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46799/ijssr.v4i11.1100

Abstract

The pharmaceutical industry is one of the most competitive industries in the world. This paper aims to discuss the shortcomings, weaknesses, threats, opportunities, and strategies that PT Phapros Tbk can implement to realize the company's vision. This research contributes to the field of strategic management by providing a comprehensive analysis of the pharmaceutical industry's internal and external environment using SWOT analysis. In addition, this paper provides a practical framework for understanding and addressing strategic challenges. The research results show that the pharmaceutical and herbal medicine industries have a strong and recognizable identity in both domestic and international markets. This study could include a focus on sustainable and innovative production techniques for herbal and medical device products.
Strategy Formulation For PT Sido Muncul Tbk in Market Competition Sugiarto, Shiefanny Delicia; Murhadi, Werner R.
Jurnal Ekonomi Vol. 13 No. 03 (2024): Jurnal Ekonomi, Edition July -September 2024
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This research aims to analyze various strategic options that can be implemented by PT Sido Muncul. PT Sido Muncul is a company that operates in the field of natural health products such as herbal medicine and other herbal supplements. Up till now, various products from the company have spread widely throughout Indonesia constantly and have even entered the global market. The key concept of this research includes strategy formulation for the company and the results will show how the company's internal and external analysis produces strengths, weaknesses, opportunities and challenges (SWOT). This research will also present measurements through various other matrices such as EFE (External Factor Evaluation) and IFE (Internal Factor Evaluation), CPM (Competitive Profile Matrix), TOWS (Threats, Opportunities, Weaknesses, Strengths), SPACE (Strategic Position and Action Evaluation ), BCG (Boston Consulting Group), IE (Internal-External), GSM (General Strategic Matrix) and QSPM (Quantitative Strategic Planning Matrix). Based on the research results using the matrix measurements above, the strategy recommendation obtained for PT Sido Muncul is to carry out a market penetration strategy to reach an even larger market share. Through a market penetration strategy, apart from being able to increase competitiveness in a wider market, the company can also experience significant growth in the future.
Analisis Strategi PT Pakuwon Jati Tbk Putri, Made Wulan Ranjani Yunantara; Murhadi, Werner R.
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 1 (2025): Dinasti International Journal of Economics, Finance & Accounting (March-April 2
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i1.4049

Abstract

This research analyzes the management strategy of PT Pakuwon Jati Tbk, this company is one of the largest property developers in Indonesia. This research evaluates company performance through external analysis which includes PESTEL and Porter's Five Forces and internal analysis which includes value chain and SWOT. This research uses strategic tools in analysis, namely the TOWS Matrix, Space Matrix, IE Matrix, and BCG Matrix as well as the Grand Strategy Matrix to then draw strategic priority decisions using QSPM. The results show that Pakuwon is in a strategic position to capitalize on opportunities in the growing property market with superblock innovation and a focus on sustainability. The recommended strategy is market development to expand the reach of the lower middle segment through cost efficiency and innovative design, as well as product development to increase competitiveness through technology integration. It is hoped that the implementation of this strategy can strengthen Pakuwon's position in the property industry and increase its economic contribution in Indonesia.
The Effect of Overconfidence, Representative, Anchoring, and Availability Biases on Investment Decisions and Market Efficiency Werner Ria Murhadi; Daniel Irvansyah; Putu Anom Mahadwartha
Matrik : Jurnal Manajemen, Strategi Bisnis, dan Kewirausahaan Volume 18 Nomor 2 Tahun 2024
Publisher : Faculty of Economics and Business Udayana University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/MATRIK:JMBK.2024.v18.i02.p03

Abstract

This study looks at how behavioral biases affect investment choices and market efficiency. This research was conducted because many millennials invest on a bandwagon without having a good understanding of investment. This kind of study use the structural equation modeling analysis method. The study's findings indicate that the bias variable overconfidence behavior can strongly influence perceived market efficiency. Nevertheless, choices about investments are unaffected by the overconfidence bias, representational bias, anchoring, and availability behavior. The variable investment decision significantly influences perceived market efficiency. Investors with investment experience above five years and a high income can make a difference in investment decisions chosen by investors. This study theme's practical application relates to the findings of overconfidence bias, which has a substantial detrimental impact on investors' perceptions of market efficiency. A high degree of confidence among investors can lead to illogical judgments and disregarding all dangers, resulting in inefficient market circumstances. Keyword: anchoring, financial behavior, investment decision, market efficiency, overconfidence
The Influence of Business Ethics, Organizational Governance, and Corporate Social Responsibility on the Financial Performance of Companies Listed on the Indonesia Stock Exchange Stephanie Stephanie; Werner Ria Murhadi
Journal of Economics and Business UBS Vol. 12 No. 3 (2023): Special Issue
Publisher : UniSadhuGuna Business School

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52644/joeb.v12i3.290

Abstract

Sustainability issue nowadays requires companies in Indonesia to act strategically and not only focus on financial performance, but also social and environmental aspects. Corporate social responsibility is seen as an obligate and one way to comply with the business ethics value as generally required by society. However, the differences in the company’s stakeholders’ needs could cause variation of corporate governance system, which sometimes does not follow the ethics value. This research aims to look over the effect of ethics (generally) to corporate governance practices and implementation of corporate social responsibility in Indonesia, also towards the company’s financial performance. The sample of this research is the companies listed in the IDX80 index of Bursa Efek Indonesia. The data collection technique used is the purposive sampling method and data collected will be analyzed using linear regression method. This research proved that ethics affecting the corporate governance system and corporate social responsibility practices, but there’s no prove that corporate governance system and corporate social responsibility affect the corporate financial performance.
Good Corporate Governance and Earning Management Practices: An Indonesian Cases Werner R. Murhadi
Jurnal Manajemen Maranatha Vol 10 No 2 (2011)
Publisher : Universitas Kristen Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jmm.v10i2.82

Abstract

This research is done for the purpose of finding out the effect of Good Governance practice can reduce earnings management practice done by company. This research uses companies registered in manufacture sector in Indonesia Stock Exchange Observation period 2005-2007 as samples. Last sample used in this research is 384 years of observation. This research uses OLS method. The result allows that only two variables have significant effect to Earning Management practice which is CEO Duality an controlling stakeholder existence. Other independent variable such as independent commissioner and audit committee and also shareholder coalition outside the controlling shareholder don't have any effort to earning management practice in the company. COntrolvariable like covergence analyst and debt don't have anny effect either, to earning management practice existence.Keywords: good corporate governance, earning management, coverage analyst, debt.
Portofolio dengan Menggunakan Model Indeks Tunggal dan Metode Z Werner R. Murhadi
Jurnal Manajemen Maranatha Vol 12 No 2 (2013)
Publisher : Universitas Kristen Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jmm.v12i2.163

Abstract

This study aimed to establish the optimal portfolio using a single index model approach and Z methods. This study used a sample of companies included in the LQ-45 period February 2009-January 2013. The results showed that the portfolio returns by using a single index models and Z methods did not give different results.The use of a single index model can provide a smaller risk than the use of Z method. The use of a single index model produces 11 stocks included in the portfolio, while the Z method produces 6 stocks included in the portfolio. The results indicated Z method is more suitable to investors who have limited funds and limited time.
Co-Authors Adrian Christianto Afifi, M. Fiyan Agnes Lestari Anastasia Handoyo Andajani, Erna Andrena Novita Santoso Ardi Sanjaya Hamdani Ardi Sanjaya Hamdani, Ardi Sanjaya Arif Herlambang Arif Herlambang Arif Herlambang Ayrin Corina Bertha Silvia S. Bertha Silvia S. Bertha Silvia Sutedjo Bertha Silvia Sutejo Budi Sutanto Budi Sutanto Budy Wijaya Hermawan Chandya, Chandya CHRISTHA MEIRIN D.S. Cindy Priscillia Cintya Yuliana Limantara Cleming Tedjokusumo Cynthia Kartika Tjandra Daniel Irvansyah Danny Adisurya Deddi Marciano Deddy Marciano Deliana Azaria Deliana Azaria Desi Teliana Silim Elvarina, Elinda Elvina Yohana Santoso Eman Christianto, Eman Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Endang Ernawati Eva Cahaya Reski Fanny Melyana Fellicia Hadi Seputro Fransisca Soetjiono Fransisca Soetjiono Gideon Subagyo Goenadi, Gracia F. Handajani, Clarissa Dominique Effendi Hariyanto, Ikka Tiaraintan Harroviantin, Francisca Herlambang, Arif Irbahiya Aqsa Griselda Jemmi Halim Liem Jemmi Halim Liem Jenni , Jenni Jenni, Jenni Jeremiah Jovan Piettojo Jessica Ang Jesslyn Fransisca Darmawan Joshua Nathanael Kania Ester Gunawan Klara Petra Theodora Targanski Lewi Odianto Utomo Liliana Inggrit Wijaya Liliana Inggrit Wijaya Liliana Ingrit Wijaya Loddy Li Putra Loddy Li Putra Lukito, Excel Nathaniel Marcella Julia Shira Maria Lavenia Meita Tri Herlina Michael Alfian Camdesus Jondar Michael Mark Tranggono Mudji Utami Mudji Utami Mudji Utami Mudji Utami Mudji Utami Natalie Winter Natica Ardani Nobertus Purnomo Lastu Novina, Emma Octaviano, Fransisco Purnomo, Dominikus Kresna Widya Pusparani, I Gusti Ayu Putri, Made Wulan Ranjani Yunantara Putu Anom Mahadwartha Putu Anom Mahadwartha Putu Anom Mahadwartha Putu Anom Mahadwartha Putu Anom Mahadwartha Ratna Widyanti W Ravito Zakaria Pramudhani Regina Vanessa Tjipta Reski, Eva Cahaya Reynaldi Kalata Hendra Richard Irawan Ricky Adiyanto Ricky Setiawan Ricky Setiawan Ricky Wijaya Siek Ricky Wijaya Siek, Ricky Wijaya Samuel Pramana Dwidjaja Setiadi, Maria B.B. Sheila Citra Wijaya Shirlen Nathania Fuandy Sidarta Hermin Sidarta Hermin Silvia Chandra Putri Stephanie Stephanie Stephanie Stephanie Stephanus Rivan Limanjaya Sugiarto, Shiefanny Delicia Sukianto Abadi Sukianto Abadi Susanto, Giovani Anggasta Synta Sutanto Tjoputri, R. Shinta Amelia Tri Wahyuni tri wahyuni Vania Beatrice Vincent Wati, Annisa Mahdia Wayan Karsana Wirata Wirata Wisyelia Tjiangdiono Wiyono, Imandy Yustine Xuân, Phan Thị Hồng Yohanes Patrik Adventus Banda Zunairoh, Zunairoh