Arman Jaya
Department Of Management, Universitas Tanjungpura, Jl. Profesor Dokter H. Hadari Nawawi, Bansir Laut, Kec. Pontianak Tenggara, Pontianak, 78124, Pontianak, Indonesia

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Does corporate social responsibility moderate financial performance and firm size on firm value? Nathania Lauren; Ilzar Daud; Helma Malini; Giriati Giriati; Arman Jaya
International Journal of Applied Finance and Business Studies Vol. 11 No. 3 (2023): December: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v11i3.164

Abstract

The global socio-economic crisis has prompted businesses and stakeholders to consider sustainable development initiatives. Protecting firm value through sustainability initiatives was critical to help firms survive the crisis. This study aimed to investigate the moderating effect of Corporate Social Responsibility (CSR) on the relationship between financial ratios, firm size, and firm value during the post-pandemic era, as this period was the best time to fix the firm’s management strategy. The research focused on manufacturing firms that are publicly traded on the IDX from 2021 to 2022. This research employed a purposive sampling method, resulting in a sample size of 38 firms. This analysis technique employed the Multiple Linear Regression. The findings showed that profitability impacts firm value while liquidity, firm size, and CSR insignificantly affect firm value. CSR, as a moderation reduced the impact of profitability on firm value; however, it does not moderate the effects of firm liquidity and firm size on firm value. During the post-pandemic period, various business sectors are navigating economic challenges by implementing strategies to boost sales and strengthen stock values. Therefore, many businesses deprioritize sustainable development because it might increase costs, reducing profits and firm value
Does dividend policy mediate liquidity and profitability on firm value ? Mariana Oktasia; Wendy Wendy; Anwar Azazi; Yulyanti Fahruna; Arman Jaya
International Journal of Applied Finance and Business Studies Vol. 11 No. 3 (2023): December: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v11i3.182

Abstract

This research aims to analyze the effect of liquidity and profitability on firm value mediated by dividend policy. This research employs the panel data regression analysis method by employing Eviews 12. This research analyzes 19 companies on the LQ45 index during 2018-2022, which were selected using a non-probability purposive sampling method. The data source in this research is secondary data obtained through the Indonesia Stock Exchange (IDX) website and several company websites selected as samples for this research. The findings of this research indicate that liquidity (CR) doesn't have any influence on dividend policy (DPR), profitability (ROE) has a negative effect on dividend policy (DPR), liquidity (CR) and profitability (ROE) have a positive impact on firm value (PBV). However, dividend policy (DPR) doesn't influence firm value (PBV). In addition, the findings of this research also indicate that dividend policy (DPR) can not be a mediator in the interaction between profitability (ROE) and liquidity (CR) with firm value (PBV).
Pengaruh Entrepreneurial Orientation dan Market Orientation Terhadap Marketing Performance Pada UMKM di Indonesia Galang Setiadi; Bintoro Bagus Purmono; Arman Jaya; Nur Afifah; Harry Setiawan
eCo-Buss Vol. 8 No. 1 (2025): eCo-Buss
Publisher : Komunitas Dosen Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32877/eb.v8i1.2607

Abstract

Studi ini menganalisis bagaimana orientasi kewirausahaan dan orientasi pasar berkontribusi terhadap kemampuan pemasaran dan kinerja pemasaran UMKM yang beroperasi di Indonesia. Fenomena yang melatarbelakangi penelitian ini adalah jumlah UMKM di Indonesia sangat besar dibandingkan dengan negara tetangga seperti Thailand dan Malaysia. Hal ini menunjukkan UMKM menyumbang sebagian besar PDB Indonesia. UMKM juga menghadapi berbagai tantangan khas dalam hal inovasi, daya saing, dan pendekatan pemasarannya. Sampel pada penelitian ini berjumlah 258 responden dengan purposive sampling. Data dianalisis dengan menggunakan SmartPLS versi 4 dengan metode PLS-SEM. Hasil penelitian menunjukkan bahwa baik Entrepreneurial Orientation maupun Market Orientation memiliki pengaruh positif dan signifikan terhadap Marketing Capabilities dan Marketing Performance. Selain itu, Marketing Capabilities terbukti secara signifikan memediasi hubungan antara kedua variabel independen tersebut terhadap Marketing Performance. Temuan ini menegaskan bahwa kemampuan UMKM dalam berinovasi, mengambil risiko, memahami pasar, serta membangun strategi pemasaran yang adaptif menjadi kunci dalam meningkatkan kinerja mereka. Secara teoritis, penelitian ini memperkuat perspektif Resource-Based View dan Dynamic Capabilities, sementara secara praktis memberikan rekomendasi bagi pelaku UMKM dan pembuat kebijakan untuk meningkatkan kapabilitas pemasaran melalui penguatan orientasi kewirausahaan dan orientasi pasar. Dengan demikian, UMKM dapat lebih siap bersaing dan berkembang dalam era ekonomi digital.
What Drives Gen Z to Apply? an Exploration of Work Expectations, Social Media Use, and Organizational Attractiveness in Indonesia Adhelia Juwita Chairunnisa; Arman Jaya; Ana Fitriana; Titik Rosnani; Yuliyanti Fahruna
Journal of Educational Management Research Vol. 5 No. 3 (2026)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v5i3.2140

Abstract

This study aims to examine the influence of work expectations on intention to apply among Generation Z in Indonesia, with a particular focus on the mediating roles of social media use and organizational attractiveness in the context of digital recruitment. A quantitative explanatory approach was employed using a cross-sectional survey of 231 Generation Z individuals preparing to enter the labor market, and the data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings reveal that work expectations do not have a direct effect on intention to apply; however, they significantly influence both social media use and organizational attractiveness. Furthermore, social media use has a significant positive effect on intention to apply, whereas organizational attractiveness does not show a significant influence. Mediation analysis indicates that social media use fully mediates the relationship between work expectations and intention to apply, while organizational attractiveness does not act as a mediator. These results imply that social media serves as a critical mechanism in translating job seekers’ expectations into application intentions, highlighting the importance for organizations to optimize digital recruitment strategies through interactive, informative, and engaging social media content to effectively attract Generation Z talent.
How Do Social Support and Transfer Motivation Drive Training Effectiveness among Workers with Disabilities in Indonesia? Kania Salsabila; Ahmad Shalahuddin; Arman Jaya; Nurul Komari; Mazayatul Mufrihah
EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi Vol. 5 No. 3: Maret 2026
Publisher : CV. Ulil Albab Corp

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/ekoma.v5i3.15675

Abstract

Training programs for workers with disabilities are widely promoted to enhance labor market inclusion; however, empirical evidence explaining the mechanisms underlying training effectiveness remains limited, particularly in developing contexts such as Indonesia. This study examines how social support and training transfer motivation influence training effectiveness by integrating the Unified Model of Task-Specific Motivation and the Capability Approach. A quantitative cross-sectional survey was conducted among 106 Indonesian workers with disabilities who had participated in at least one formal training program. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to assess direct, indirect, and moderating effects. The results indicate that social support does not directly influence training effectiveness but significantly enhances training transfer motivation, which in turn positively affects training effectiveness and fully mediates the relationship. Transfer design does not significantly moderate the proposed relationships. These findings suggest that training effectiveness among workers with disabilities is primarily driven by motivational mechanisms that transform contextual support into sustained work application. The study contributes to disability-inclusive HRM literature by highlighting transfer motivation as a central explanatory mechanism for effective training outcomes.
How Do Islamic Job Satisfaction, Organizational Commitment, and Islamic Work Ethic Influence Intention to Leave in Islamic-Based Companies? Mini Arni; Muhammad Irfani Hendri; Arman Jaya; Nurul Komari; Mazayatul Mufrihah
EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi Vol. 5 No. 3: Maret 2026
Publisher : CV. Ulil Albab Corp

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/ekoma.v5i3.15771

Abstract

Employee retention remains a critical challenge for Islamic-based organizations, where value congruence and ethical climate strongly influence employee attitudes. Drawing on Social Exchange Theory, this study aims to examine the effect of Islamic Job Satisfaction on Intention to Leave, with Organizational Commitment as a mediator and Islamic Work Ethic as a moderator. A quantitative explanatory survey was conducted among 165 employees in Islamic-based organizations in Indonesia, and data were analyzed using Partial Least Squares Structural Equation Modeling (PLSc) in SmartPLS 4. The results indicate that Islamic Job Satisfaction significantly reduces Intention to Leave both directly and indirectly through Organizational Commitment. Organizational Commitment also shows a strong negative effect on Intention to Leave. Furthermore, Islamic Work Ethic moderates the relationships between Islamic Job Satisfaction and Organizational Commitment and between Organizational Commitment and Intention to Leave by weakening these effects. These findings highlight the crucial role of spiritual and ethical values as internal regulatory mechanisms that strengthen employee retention and provide important managerial implications for sustaining workforce stability in Islamic-based organizations.
The Role Of Employee Engagement In Mediating The Effects Of Meaningful Work, Hindrance Stressors, And Work-Life Balance On Quiet Quitting Among Generation Z Employees In Indonesia Zuliandra Adelia Putri; Barkah Barkah; Rizani Ramadhan; Arman Jaya; Hassanudin Hassanudin
JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) Vol. 12 No. 4 (2026): Agustus 2026
Publisher : Lembaga Komunitas Informasi Teknologi Aceh (KITA), Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/jemsi.v12i4.6700

Abstract

Quiet quitting has become a major issue in human resource management, changing how Generation Z employees view loyalty. This study looks at whether employee engagement connects meaningful work, hindrance stressors, and work-life balance to quiet quitting among Generation Z workers in Indonesia. Using a quantitative survey, we collected data from Generation Z employees and analyzed it with Structural Equation Modeling (SEM-PLS). The results show some unexpected patterns. Employee engagement did not act as a link, suggesting that enthusiasm for work and the choice to limit workload are not always connected. Only meaningful work was found to reduce quiet quitting, while hindrance stressors had no effect. Another surprising finding was that work-life balance actually increased quiet quitting, suggesting that some employees use withdrawal as a way to achieve balance. Based on these results, organizations should focus less on emotional retention and more on creating meaningful work and clear work boundaries, since high engagement alone does not prevent quiet quitting.