Harjum Muharam
Departemen Manajemen Fakultas Ekonomika dan Bisnis Universitas Diponegoro

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Analisis Determinan Kebijakan Dividen dengan Ukuran Perusahaan sebagai Variabel Moderasi (Studi Empiris pada Perusahaan Pertambangan Indonesia Tahun 2016-2020) Eli Maslika ‘Atin; Harjum Muharam
Diponegoro Journal of Management Volume 11, Nomor 4, Tahun 2022
Publisher : Faculty of Economics and Business Diponegoro University

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Dividend policy in the company is a crucial matter because it can affect the valueof the company in the future. To support this, increasing the value of the company is one ofthe main goals of the company. A higher dividend payout will relatively increase the share price, which means an increase in the value of the company. The complexity of thecompany's activities has increased the conflict of interest between stakeholders and company management. The company makes a clear distinction between ownership, operations and management. This division allows management to prioritize the interests of the company or its owners. These phenomena and gaps are the basis for conducting this research. This research has the aim of explaining and knowing the determination of dividend policy in mining companies in Indonesia, either in the form of significance or in the formof influence. Data retrieval from this study involved 46 companies with a total of 230 data which were analyzed using the classical assumption test and processed with the SPSS version 21 program. Based on this research, it was found that profitability has a positive and significant effect on dividend policy. In addition, liquidity has a negative and significant effect on dividend policy. In this study, it was also found that the company's growth had a negative and significant effect on dividend policy. Then lastly, company size which is a moderating variable has a positive and significant effect on the dependent variable of dividend policy
DAMPAK JANGKA PENDEK PANDEMI COVID-19 TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) DAN INDEKS SEKTORAL Khairunnisa Nadhifah Syahfiraputri; Harjum Muharam
Diponegoro Journal of Management Volume 11, Nomor 3, Tahun 2022
Publisher : Faculty of Economics and Business Diponegoro University

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The study aims to analyze the short-term impact of the Covid-19 pandemic on the Composite Stock Price Index and Sectoral Indexs. This study calculated the expected return and abnormal return from each industry sector with the capital asset pricing model (CAPM) formula. From the results of the count can also be calculated Cummulative Abnormal Return (CAR) and Cummulative Average Abnormal Return Market (CAARM). The results of the study were divided into several sub-windows with the timeline of the Indonesian government's policy in dealing with the Covid-19 pandemic. The results showed that the Covid-19 Pandemic had a significant negative effect on the Composite Stock Price Index and Sectoral Index in certain sub-windows.
ANALYSIS OF THE INFLUENCE OF SOCIAL MEDIA TO BRAND EQUITY ON CUSTOMER SATISFACTION AND DECISION OF ZERO TO ONE Ditania Tiara Imrohati; Harjum Muharam
Diponegoro Journal of Management Volume 11, Nomor 5, Tahun 2022
Publisher : Faculty of Economics and Business Diponegoro University

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As a business accelerator, Zero to One provides services to help many startups to grow with a tailored approach. However, the company's customer base has shrunk, and the social media platform's performance has suffered significantly. As a result, Zero to One expected that analyzing the influence of social media on brand equity could be a way to show their branding in a broader market and introduce it to the Northern Netherlands. To answer the main question, qualitative research will be used in this research. Researchers took the decision to conduct interviews about the company's situation. Researchers obtain secondary data from various credible sources. Furthermore, data from interviews with other start-up companies regarding their demand in branding and marketing will be used to collect primary data. Secondary data obtained from studies, surveys, or tests conducted by others or for other research are used to answer questions. The findings identify the relationship between social media sharing elements that influence brand association and brand equity. Based on the results of the study, it is known that social media has affected Zero to One's brand equity, although not as a major aspect in influencing purchasing decisions. However, the results show that social media is still the best choice to increase Zero to One's brand equity.
ANALISIS PENGARUH KEBERAGAMAN DEWAN DIREKSI TERHADAP KEMUNGKINAN FINANCIAL DISTRESS DENGAN ROA DAN FIRM SIZE SEBAGAI VARIABEL KONTROL (Studi Kasus pada Bank Umum yang Terdaftar di BEI pada Tahun 2016-2020) Dahniar Fara Fatima; Harjum Muharam; Danes Quirira Octavio
Diponegoro Journal of Management Volume 12, Nomor 2, Tahun 2023
Publisher : Faculty of Economics and Business Diponegoro University

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ABSTRACT This study aims to analyze the relationship between the board of director diversity and financial distress. This research used board of director size, gender diversity, age diversity, and nationality diversity as the independent variable, while financial distress measured with Altman Z-Score was adopted as the dependent variable. This research also implemented control variables using ROA and firm size. The sample used in this study is conventional bank listed on Indonesia Stock Exchange in 2016-2020. A total of 36 conventional banks were used as the sample obtained using the purposive sampling method. The analytical method used in this research is binomial logistic regression analysis using IBM SPSS 25. The result of this study discovered that board of director size has a negative significant effect on financial distress. Meanwhile, gender, age, and nationality diversity does not affect financial distress. The score of Nagelkerke R-Square is 29,1% which means there are 70,9% of factors not included in this research that affect the possibilities of financial distress
PENGARUH CORPORATE SOCIAL RESPONSIBILITY (CSR) TERHADAP FINANCIAL PERFORMANCE, FINANCIAL STABILITY, DAN FINANCIAL INCLUSION PADA PERUSAHAAN PERBANKAN (Studi pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia Periode 2016- 2020) Amelia Sabela Cahyaningrum; Harjum Muharam
Diponegoro Journal of Management Volume 12, Nomor 1, Tahun 2023
Publisher : Faculty of Economics and Business Diponegoro University

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ABSTRACT This study aims to analyze the effect of corporate social responsibility on financial performance, financial stability, and financial inclusion of Indonesian banking companies for the 2016-2020 period. Financial performance is measured using return on assets (ROA), return on equity (ROE), earnings per share (EPS), and net profit margin (NPM). Financial stability is measured using Z-Score, and financial inclusion is measured using the number of bank branches (NOBB) and the number of bank ATMs (NOBA) per 100,000 adult population. The independent variable used in this study is corporate social responsibility (CSR) and is followed by control variables consisting of leverage (LEV), tangibility, company age (AGE), and company size (SIZE). The samples used in this study were collected from 33 banking companies listed on the Indonesia Stock Exchange (IDX) with complete data needed to calculate the variables in the study in the 2016-2020 period. Samples were taken using purposive sampling method. Research data obtained from Bloomberg and the company's annual financial statements. The data was processed using Ordinary Least Square (OLS) regression analysis and Hypothesis Test with the help of the SPSS version 26 and Eviews 10 application programs. The results show that CSR, tangibility and firm size have a significant influence on all three factors. However, high firm age has no impact on the financial stability of banks, while high leverage levels reduce financial inclusion
A MARKETING STRATEGY ANALYSIS: MARKET ENTRY PLAN OF FLOCUS TO INDONESIAN MARKET Valentino Nedya Kresno Aji; Harjum Muharam
Diponegoro Journal of Management Volume 12, Nomor 3, Tahun 2023
Publisher : Faculty of Economics and Business Diponegoro University

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ABSTRACT Flocus is a textile company pioneering sustainable and regenerative textile solutions based on kapok fiber, and it has been creating a responsible supply chain for kapok since 2016. By doing what they can do best such as planting kapok trees in Indonesia to cover the increasing demand and planting kapok in areas where the desertification risk is high to help the poor and delicate ecosystem to find a new balance, testing and investing the wide range of applications of kapok, and building partnership with companies to help them using kapok for a wide range of products. Since Flocus has invested in Indonesia for its supply chain, the company is thinking of entering the Indonesian market by offering its Fibers, Yarns, Fabrics, and Non-Woven products with a B2B business model in order to increase its profit. Flocus wants to expand its operations and market in Indonesia by creating a new sustainable kapok supply chain in Semarang and trying to sell its products to the locals. This expansion would be in the hope of increasing their revenue and creating a better sustainable supply chain. This study examines the enter plan to Indonesia market, including market segmentation, market size, and market growth. These studies are critical for the Flocus entrance strategy to succeed. This paper also examines cultural variations that have a large impact on marketing techniques, such as people's ideas, behaviors, and communication. The research method that the researchers will use is primary and secondary data with SWOT and PESTLE analysis. The result shows that Flocus can get into the market by selling its product in massive volume or small volume, with massive volume it means that Flocus will sell its product to another company or manufacturer, and small volume means that Flocus will sell its product more towards the consumer. The strategy to compete in Indonesian market is to target middle to big company or manufacturer, why this is a better approach than targeting small company is because there is not a lot of big textile or garment manufacturer in Indonesia, and usually in Indonesia, the small company is buying product from big company instead of creating on their own this is because the machinery in Indonesia is costly and not a lot of small company can afford it. So, targeting middle to big company is better than targeting small company.