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All Journal Jurnal DIALEKTIKA : Jurnal Ilmu Sosial KarismaPro
Dodi Siswanto
Prodi Manajemen Fakultas Ekonomi Universitas Al-Ghifari
Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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Political Risk and Market Reaction: Abnormal Return of the Indonesian Stock Exchange (IDX) During the 2025 Demonstration Event Dodi Siswanto; Agus Rohiman
Jurnal Dialektika: Jurnal Ilmu Sosial Vol. 23 No. 3 (2025): Jurnal Dialektika: Jurnal Ilmu Sosial
Publisher : Pengurus Pusat Perkumpulan Ilmuwan Administrasi Negara Indonesia (PIANI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63309/dialektika.v23i3.914

Abstract

This study aims to analyze the Indonesian capital market's reaction to the political demonstrations on August 29, 2025, as a form of non-electoral political risk that could potentially impact stock market performance. In the context of increasing financial market sensitivity to socio-political uncertainty, this study uses a quantitative explanatory approach with an event study method to test for abnormal returns (AR) and cumulative abnormal returns (CAR) on the Indonesian Stock Exchange (IDX) during the observation period. Secondary data were obtained from the daily closing prices of the IDX with an estimation window from July 1 to August 22, 2025, and a seven-day event window surrounding the event. The analysis results show that although no significant abnormal returns were found on the day of the event, there was a statistically significant negative cumulative abnormal return during the observation period, indicating that the political demonstrations exerted accumulative pressure on the stock market. These findings indicate that the Indonesian capital market reacts negatively to non-electoral political events, with an indirect and cumulative adjustment pattern, reflecting the characteristics of an emerging market with semi-strong efficiency. This research contributes to expanding the literature on political risk in emerging markets and provides practical implications for investors and policymakers to strengthen risk mitigation strategies and maintain market stability amidst domestic political uncertainty.
Job Satisfaction and Employee Loyalty as Performance Determinants Yayat Sudrajat; Dodi Siswanto
Jurnal Dialektika: Jurnal Ilmu Sosial Vol. 23 No. 3 (2025): Jurnal Dialektika: Jurnal Ilmu Sosial
Publisher : Pengurus Pusat Perkumpulan Ilmuwan Administrasi Negara Indonesia (PIANI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63309/dialektika.v23i3.921

Abstract

This study aims to analyze the influence of job satisfaction and employee loyalty on the performance of general department employees at Pamanukan Medical Center Hospital. The background of the study is based on the importance of psychological factors and employee engagement in improving the effectiveness and quality of services, especially in the health sector which demands professionalism, accuracy, and high responsibility. The study used a quantitative approach with a survey method by distributing questionnaires to 68 active general department employees of the hospital. Data were analyzed using descriptive and inferential statistics, including validity and reliability tests, multiple linear regression, and t-tests and F-tests with the help of SPSS software version 22. The results of the study indicate that job satisfaction and employee loyalty have a positive and significant effect on performance, both partially and simultaneously, with a high level of contribution. This finding confirms that satisfaction and loyalty are key factors in shaping optimal employee performance in a public service-based work environment. Theoretically, this study strengthens the model of the relationship between affective and normative factors in employee performance, while practically providing implications for hospital management in designing policies oriented towards improving psychological well-being and employee engagement to support organizational productivity and sustainability.
Co-Authors Agus Rohiman Ahmad Saepul Anwar Ashshidiqy, Muhammad Taufan Dini Ihtisam Fitri Nur Fauziah Harland Yusuf Herdijani, Dary Alifah Imel Meilani Nurjanah Lestari, Lindia Nuryani Aulia Eka Putri Risya Fierda Fhadillah Saumantari, Asri Yayat Sudrajat Yogi Sahrul Danda