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IMPACT OF FUNDAMENTAL MACROECONOMIC FACTORS, COST EFFICIENCY, FIRMS POLICIES WITH SYSTEMATIC RISK AS MEDIATOR ON ISLAMIC FINTECH WELFARE PERFORMANCE : EVIDENCE FROM AN INDONESIA'S ISLAMIC FINTECH INSTITUTION Dody Suhermawan; Mahjudin Mahjudin; Djoko Soelistya
Journal of Managerial Sciences and Studies Vol. 1 No. 2 (2023): Agustus : Journal of Managerial Sciences and Studies
Publisher : PT. Mawadaku Sukses Solusindo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61160/jomss.v1i2.9

This study tries to answer some questions on the impact of Fundamental Macroeconomic Factors, Cost Efficiency, Firms Policies to Islamic Fintech Walfare from economically emerging country like Indonesia. The analysis was conducted gradually by placing systematic risk and firm performance as intervening variables. This research, in specific, aims to test the gradual effect of macroeconomic fundamental factors on firm performance and firm value. The theoretical base applied to support this research was two established financial theories, such as agency and capital structure theory. This study used the samples of the Islamic Fintch Institution that listed in Indonesia's stock exchange, which the stocks actively traded in Indonesia's Stock Exchange. The data used was panel data, namely, the data of cross section and time series from the period of 2017 to 20019. The research results are; first, the macroeconomics variables (inflation, interest rate, exchange rate, and economic growth) have significant effect on systematic risks. On the other hand, systematic risks have significant effect on firm performance, and firm performance has significant effect on firm value. Second, the variables of firm policy (manager incentive and financial leverage) have significant effect on firm performance, and firm performance has significant effect on firm value. However, capital expenditure has insignificant effect on firm performance and firm value rather than manager incentive and financial leverage. Third, special findings from this research are that there is gradual process in influencing firm value so that firm performance has the role as intervening variable, which is the variables mediating the effects of macroeconomic variable (exchange rate), systematic risk, and firm policy (manager incentive) in Islamic financial technology welfare.

An Empirical Review of Determinants Influencing Firm Collaboration and Their Impact on Competitive Performance Dody Suhermawan; Yeni Ika Pratiwi; Mahjudin Mahjudin
Journal of Managerial Sciences and Studies Vol. 3 No. 2 (2025): Agustus: Journal of Managerial Sciences and Studies
Publisher : PT. Mawadaku Sukses Solusindo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61160/jomss.v3i2.79

Achieving a sustainable competitive advantage is essential for improving marketing performance in highly dynamic business environments. One strategic approach to attaining this objective is through relationship learning, which enables firms to enhance their organizational learning capabilities by facilitating systematic information exchange, fostering shared learning platforms, and aligning behaviors with stakeholder expectations. Relationship learning is not limited to dyadic firm-stakeholder interactions but also encompasses insights obtained from external sources such as scientific publications and academic research. By integrating both internal and external knowledge, firms can develop a comprehensive understanding of their strategic environment, allowing them to formulate more adaptive and effective marketing strategies. The establishment of mutual understanding through continuous collaborative efforts between customers and suppliers serves as a foundation for influencing behavioral alignment and strategic coherence. This dynamic learning process significantly contributes to the development of a firm’s competitive advantage, thereby strengthening its marketing performance over time.

Forecasting Equity Market Performance: A Comparative Analysis of Linear Regression, Random Forest, and LSTM Approaches Dody Suhermawan; Krisna Didit Wiwaha; Muchammad Ilham SAM
Journal of Managerial Sciences and Studies Vol. 3 No. 2 (2025): Agustus: Journal of Managerial Sciences and Studies
Publisher : PT. Mawadaku Sukses Solusindo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61160/jomss.v3i2.85

This research explores the predictive capabilities of three distinct modeling approaches—Linear Regression, Random Forest, and Long Short-Term Memory (LSTM)—in forecasting stock prices using data from 29 companies, including the S&P 500 index, spanning from January 1, 2000, to June 27, 2024. Through the utilization of historical time-series data, the study evaluates model performance based on key statistical indicators: Mean Squared Error (MSE), Root Mean Squared Error (RMSE), and the coefficient of determination (R²). The findings indicate that while Random Forest outperforms Linear Regression in terms of accuracy, the LSTM model consistently delivers superior results, attributed to its strength in capturing sequential dependencies within financial data. These insights contribute to the growing body of literature in financial analytics by highlighting the comparative strengths of traditional, ensemble-based, and deep learning methods for stock market prediction. Furthermore, the study opens up avenues for integrating advanced temporal models into future financial forecasting frameworks.

Integrating Employee Well-Being into HRM for Effective Distance Working Implementation Dody Suhermawan; Almira Vidhayandika M
Journal of Managerial Sciences and Studies Vol. 3 No. 2 (2025): Agustus: Journal of Managerial Sciences and Studies
Publisher : PT. Mawadaku Sukses Solusindo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61160/jomss.v3i2.91

Purpose - The growing adoption of remote work has raised important questions regarding the role of human resource management (HRM) practices in safeguarding employee well-being. While well-being-oriented HRM has been recognized as an essential framework for supporting happiness, health, and social connectedness in traditional organizational settings, its relevance in remote work arrangements remains ambiguous. The reduced physical presence and visibility of employees in remote contexts may diminish the effectiveness of such practices, thereby warranting a deeper empirical investigation. Aims - This study seeks to examine whether well-being-oriented HRM maintains its capacity to enhance employee well-being in remote working environments, as compared to conventional, on-site contexts. More specifically, it aims to evaluate how distinct domains of well-being-oriented HRM are associated with different facets of employee well-being—including psychological well-being (happiness, job satisfaction, and engagement), physical well-being (strain and health), and relational well-being (social connectedness). Additionally, the moderating role of remote work intensity is assessed to determine whether variations in the extent of remote work influence these relationships. Design - The empirical analysis was conducted using a two-wave dataset collected from 258 Indonesian state-owned manufacturing enterprises. By differentiating between remote and non-remote work settings, the study applies a comparative lens to assess both the direct associations of well-being-oriented HRM with well-being outcomes and the potential moderating influence of remote work intensity. This approach allows for a nuanced understanding of how HRM practices function across varying organizational work arrangements. Findings - The results indicate that well-being-oriented HRM continues to exert a positive influence on employee well-being in remote work contexts, particularly in terms of happiness (engagement and job satisfaction) and health (strain reduction). However, variations emerge across domains of HRM, as certain practices appear more effective in enhancing happiness and health-related outcomes than others.

MEASURING THE CORRELATION COGNITIVE DISSONANCE BIAS, HIND SIGHT BIAS, OVER CONFIDENCE BIAS AND SELF-CONTROL BIAS TO INVESTMENT DECISION ON STOCK OPTION Dody Suhermawan; Almira Vidhayandika M
Journal of Managerial Sciences and Studies Vol. 2 No. 3 (2024): Desember: Journal of Managerial Sciences and Studies
Publisher : PT. Mawadaku Sukses Solusindo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61160/jomss.v2i3.106

Researchers want to know the effects of cognitive dissonance bias, hindsight bias, overconfidence bias, and self-control bias on Stock Option investment decisions. The researcher uses the technical analysis of convergent validity test, discriminant validity test, outer model test, inner model test, rsquare, hypothesis test and Sobel test. The program used is SmartPLS 3 trial version with a sample of 224 respondents with predetermined criteria. The results show that the cognitive dissonance bias variable on Stock Option investment decisions has no significant effect, the hindsight bias variable has no effect on Stock Option investment decisions, overconfidence bias has a positive but not significant effect on Stock Option investment decisions. This is because the T-statistic value is less than 1.97. While the self-control variable can have a positive and significant effect on Stock Option investment decisions.

Product Innovation, Organizational Ambidexterity, and Marketing Performance of SMEs During Crisis Recovery: Evidence from the Food and Beverage Sector in Indonesia. Dody Suhermawan
Journal of Managerial Sciences and Studies Vol. 4 No. 1 (2026): April: Journal of Managerial Sciences and Studies
Publisher : PT. Mawadaku Sukses Solusindo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61160/jomss.v4i1.124

Micro, Small, and Medium Enterprises (MSMEs) constitute a strategic pillar of economic resilience and inclusive growth in emerging economies, particularly in Indonesia. Despite their substantial contribution to employment generation, regional development, and national income, MSMEs remain highly vulnerable to environmental turbulence, especially during periods of economic disruption such as the COVID-19 pandemic. This study investigates the relationship between product innovation, organizational ambidexterity, and marketing performance among SMEs operating in the food and beverage processing sector in Serang City, Banten Province. Specifically, the study examines the direct influence of product innovation on marketing performance, the effect of product innovation on organizational ambidexterity, the impact of organizational ambidexterity on marketing performance, as well as the mediating and moderating roles of organizational ambidexterity. A quantitative explanatory approach was employed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). Data were collected from 170 SMEs selected through random sampling based on predefined business criteria. The findings reveal that product innovation significantly enhances marketing performance and organizational ambidexterity. Organizational ambidexterity also exerts a strong positive influence on marketing performance and acts as a significant mediating mechanism in the innovation–performance relationship. However, the moderating effect of organizational ambidexterity weakens the direct relationship between product innovation and marketing performance. The study highlights the strategic importance of balancing exploratory and exploitative organizational capabilities in strengthening SME competitiveness under uncertain business conditions. The findings contribute to strategic management and marketing capability literature while offering managerial insights for SME sustainability, adaptive innovation, and market resilience in emerging economies.

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