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PREDICTION ANALYSIS OF BANKRUPTCY USING THE ZMIJEWSKI MODEL ON CONSTRUCTION SUBSECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE Ilfa Hanafi; Anwar, Muh. Ilham Wardhana Haeruddin, Siti Hasbiah, Muh Ichwan Musa
BORJUIS: JURNAL OF ECONOMY Vol. 1 No. 4 (2024): BORJUIS: JOURNAL OF ECONOMY
Publisher : Adisam Publisher

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Abstract

This research aims to analyze bankruptcy predictions for construction sub-sector companies listed on the Indonesia Stock Exchange using the Zmijewski model. This research uses secondary data in the form of financial statements and closing stock prices of each company for the period 2017-2021. The sampling was conducted using purposive sampling techniques, and 15 companies that met the predetermined criteria were obtained. The research results indicate that out of 15 companies, PT Acset Indonusa Tbk, PT Adhi Karya (Persero) Tbk, and PT Waskita Karya (Persero) Tbk are predicted to be at risk of bankruptcy. The calculation results of stock returns indicate that the decrease and increase in stock returns do not correlate with the predicted bankruptcy outcomes of the company.
ANALYSIS OF THE STRATEGIC ENVIRONMENT IN THE DEVELOPMENT OF BUSINESS SERVICES BULUKUMBA Suhaeni Suhaeni; Nurman, Chalid Imran Musa, Hety Budiyanti, Muhammad Ilham Wardhana Haerudin
BORJUIS: JURNAL OF ECONOMY Vol. 2 No. 1 (2024): BORJUIS: JOURNAL OF ECONOMY
Publisher : Adisam Publisher

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This study aims: (1) to describe the management of the Kurirta Bulukumba service enterprise, (2) to analyze the internal and external environment of Kurirta bulukumba services company, (3) to define the formulation of the business development strategy used in Kurirta Bullukumba Service Company, and (4) to described the results of the analysis Strenghts, Weaknesses, Opportunities and Threats in Kurerta Bulukumbas service company. This type of research is qualitative research with a descriptive approach. The total sample in this study was 15 people from Kurirta Bulukumba's employees and partners. Data collection is done using observations, interviews, lifts and documentation. The data analysis was carried out using the SWOT Analysis method with the help of Internal Strategic Factor Analysis Summary (IFAS) and External Strategic Faktor Analysis summary (EFAS). The results from IFAS, EFAS were 1.96 and 1.16 which indicated that the company was in the quarter I position (positive, positive) where the company is in a strong position and opportunity. So it can be formulated the strategy used for the company is an aggressive strategy or growth strategy that is the expansion of new territory using the extensive network and the experience of the area that Kurirta Bulukumba has.
THE INFLUENCE OF USER SATISFACTION ON REINTENTION TO USE MEDIATED BY E-TRUST IN SHOPEE ECOMMERCE AMONG MANAGEMENT STUDENTS AT MAKASSAR STATE UNIVERSITY Musdena Musaat; M. Ilham Wardhana Haeruddin; Ilma Wulansari Hasdiansa; Siti Hasbiah; Rahmat Riwayat Abadi
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 5 (2025): MAY
Publisher : CV. Adiba Aisha Amira

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Abstract

This study examines the relationship between user satisfaction, e-trust, and the intention to reuse Shopee eCommerce among management students at Makassar State University. With the proliferation of online shopping platforms, understanding factors influencing users' intention to continue using specific platforms is crucial for both academic research and practical applications. The theoretical framework is grounded in the Technology Acceptance Model (TAM) and the Trust-Commitment Theory, which posit that user satisfaction and e- trust significantly influence users' behavioral intentions in electronic commerce contexts. Data were collected through a structured questionnaire distributed to a sample of management students who have experience using Shopee eCommerce. Results from the analysis indicate a positive relationship between user satisfaction and the intention to reuse Shopee. Furthermore, e-trust mediates the relationship between user satisfaction and reuse intention, suggesting that trust in the platform acts as a significant mechanism through which user satisfaction translates into continued usage intentions. These findings contribute to both theoretical and practical implications for eCommerce platforms, suggesting strategies to enhance user satisfaction and build trust among users to foster loyalty and repeat usage. Limitations and avenues for future research are also discussed.
THE INFLUENCE OF AUTHORITARIAN LEADERSHIP STYLE AND WORK ENVIRONMENT ON THE ORGANIZATIONAL COMMITMENT OF MAKASSAR CLASS 1 PRIVATE EMPLOYEES Fresiska; Hety Budiyanti; Tenri Sayu Puspitaningsih Dipoatmodjo; M. Ilham Wardhana Haeruddin; Rezky Amalia Hamka
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 1 (2025): JULY
Publisher : CV. Adiba Aisha Amira

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This research aims to determine the influence of authoritarian leadership style and the work environment on the organizational commitment of employees at the Makassar Class 1 Detention Center. This research uses a quantitative type of research using a descriptive approach method. The population in this study was 175 employees and the sample used was 120 respondents. Data collection was carried out using questionnaires, observation, interviews and documentation methods. The data analysis technique used is multiple linear regression analysis using statistical product and service (SPSS) 25. The results of the research show that the authoritarian leadership style has an insignificant influence on the organizational commitment of employees at the Makassar Class 1 Detention Center with a value of 0.450 > 0.050 and a calculated t value of -.758 < t table of 2.358. The work environment has a significant influence on the organizational commitment of employees at the Makassar Class 1 Detention Center with a value of 0.000 < 0.050 and a calculated t value of 6.129 > t table of 2.358. The authoritarian leadership style and work environment both have a significant influence on the organizational commitment of employees at the Makassar Class 1 Detention Center with a calculated F value of 26.983 > F table of 3.16 or a sig of 0.000 < 0.050.
THE EFFECT OF BRAND IMAGE ON PURCHASE DECISION THROUGH FEAR OF MISSING OUT (FOMO) ON THE PRODUCT MIE GACOAN IN THE CITY OF MAKASSAR Muhammad Dzul Akbar; Tenri Sayu Puspitaningsih Dipoatmodjo; Muhammad Ilham Wardhana Haerudin; Muh. Ichwan Musa; Ilma Wulansari Hasdiansa
NETIZEN: JOURNAL OF SOCIETY AND BUSSINESS Vol. 2 No. 5 (2025): MEI
Publisher : CV. ADIBA AISHA AMIRA

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Abstract

This study aims to analyze the effect of Brand Image on Purchase Decision with Fear of Missing Out (FoMO) as a mediating variable for Mie Gacoan products in Makassar City. This research applied a quantitative method by distributing questionnaires to 202 respondents. The collected data were analyzed using Partial  Least Square (PLS). The results show that Brand Image has a positive and significant effect on both Fear of Missing Out and Purchase Decision. Additionally, Fear of Missing Out positively influences Purchase Decision. The study also confirms that Brand Image indirectly affects Purchase Decision through Fear of Missing Out as a mediating variable. This research concludes that Brand Image and FoMO play an essential role in influencing consumer purchasing decisions, particularly among young consumers who are actively engaged on social media.
THE INFLUENCE OF SERVICE QUALITY AND PRICE ON CUSTOMER LOYALTY THROUGH CUSTOMER SATISFACTION AS AN INTERVENING VARIABLE IN ONLINE TRANSPORTATION GRABBIKE (Study on Management Students at Makassar State University)   Uhud Darmawan Natsir; Juliyati, Nurul Fadilah Aswar, Chalid Imran Musa, Muhammad Ilham Wardhana Haeruddin, Muhammad Said
Jurnal Ekonomi dan Bisnis Vol. 3 No. 6 (2025): JEBI: Jurnal Ekonomi dan Bisnis
Publisher : CV. Adiba Aisha Amira

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Abstract

The purpose of this study was to determine the effect of service quality and price on customer loyalty through customer satisfaction as an intervening variable in Grabbike online transportation (for management students, Makassar State University). The sample used was 100 Grabbike customers who had been selected based on predetermined criteria. The data analysis technique was carried out by questionnaire, observation and literature study. The data analysis technique used in this study uses SmartPLS version 3. Based on the results of the study, it shows that the service quality variable has a positive and significant effect on customer loyalty. Service quality variables have a positive and significant effect on customer satisfaction. The price variable has a positive but insignificant effect on customer loyalty. The price variable has a positive and significant effect on customer satisfaction. The customer satisfaction variable has a positive and significant effect on customer loyalty. Service quality variables have a positive and significant effect on customer loyalty through customer satisfaction. The price variable has a positive and significant effect on customer loyalty through customer satisfaction.
THE EFFECT OF SHOPEE E-COMMERCE TRUST ON CUSTOMER LOYALTY THROUGH THE INTERVENING VARIABLE OF PURCHASING DECISIONS (STUDY ON STUDENTS OF THE FACULTY OF ECONOMICS AND BUSINESS, MAKASSAR STATE UNIVERSITY) Fathurrahman Fathurrahman; Uhud Darmawan Natsir; Muhammad Ilham Wardhana Haeruddin; Siti Hasbiah; Ilma Wulansari Hasdiansa
JIEKA: Jurnal Integrasi Ekonomi, Keuangan, dan Akuntansi Vol. 1 No. 2 (2025)
Publisher : Adiba Aisha Amira

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.17061265

Abstract

The purpose of this study was to determine the effect of Shopee's E-Commerce Trust on Customer Loyalty in active students of the Faculty of Economics and Business, Universitas Negeri Makassar through Purchasing Decisions as an Intervening Variable. The sample used was 100 Shopee consumer respondents who had been selected based on predetermined criteria. The data collection technique was carried out by questionnaire and literature study. The data analysis technique consists of an Outer Model (Measurement Model) consisting of Convergent Validity, Discriminant Validity, Multicollinearity, and Composite Reliability, then the Structural Model (Inner Model) with the R-Square test, Patch Coefficients, Total Indirect Effect, and Goodness of Fit test. Based on the results of the study, it shows that the E-commerce Trust variable has a positive and significant effect on Customer Loyalty, the Purchasing Decision variable has a positive and significant effect on Customer Loyalty, the E-commerce Trust variable has a positive and significant effect on Purchasing Decisions, and the E-commerce Trust variable has a positive and significant effect on Customer Loyalty through Purchasing Decisions.
Pengaruh Gaya Kepemimpinan dan Budaya Organisasi terhadap Loyalitas Pengurus Himpunan Pelajar Mahasiswa Indonesia Parepare Komisariat Univeritas Negeri Makassar Rukma Inna; Ilham Wardhana H; Burhanuddin Burhanuddin; Zainal Ruma; Rezky Amalia Hamka
Jurnal Rimba Riset Ilmu manajemen Bisnis dan Akuntansi Vol. 4 No. 2 (2026): Mei: Riset Ilmu Manajemen Bisnis dan Akuntansi
Publisher : Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/rimba.v4i2.2553

Abstract

This study aims to determine the influence of leadership style and organizational culture on the loyalty of the HIPMI Parepare Commissariat, Makassar State University (UNM) administrators. The research variables consist of leadership style as the first independent variable (X₁), organizational culture as the second independent variable (X₂), and administrator loyalty as the dependent variable (Y). The study population was all 40 active HIPMI Parepare Commissariat administrators at UNM during the study period. The sampling technique used was saturated sampling (census), thus the entire population was included as respondents. Data were obtained through questionnaires and analyzed using multiple linear regression with the help of SPSS. The results show that leadership style has a positive and significant effect on administrator loyalty, organizational culture has a positive and significant effect on administrator loyalty, and simultaneously, both leadership style and organizational culture have a significant effect on administrator loyalty. These findings indicate that the more effective the leadership style implemented and the stronger the organizational culture developed, the higher the level of administrator loyalty to the organization. The synergy between participatory leadership and a healthy organizational culture can create a conducive organizational environment, increase commitment, and strengthen organizational sustainability.
The Investigation-Based Literature on the Reference Group and Buying Intention M. Ilham Wardhana Haeruddin
Southeast Asia Journal of Business, Accounting, and Entrepreneurship Vol. 4 No. 1 (2026): MARCH TO JUNE 2026 - SAINS
Publisher : PT Smart Media Makassar

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Abstract

Buying intention is a central construct in consumer behavior research because it bridges attitudes and the likelihood of action in markets. One of the most influential determinants of buying intention is the reference group—individuals or collectives that consumers use as a benchmark for beliefs, evaluations, and behaviors. This investigation-based literature review synthesizes theory and evidence on how reference groups shape consumer buying intention through mechanisms such as normative influence (pressures to comply), informational influence (belief formation via credible others), value internalization, and identity signaling. Drawing primarily on foundational perspectives from social psychology, consumer socialization, and marketing science, the review connects reference-group effects to established explanatory models including the Theory of Planned Behavior, Social Comparison Theory, and Self-Concept theories. It also integrates more recent developments such as online social influence and platform-mediated word-of-mouth, where visibility, algorithmic curation, and network dynamics alter how social cues are interpreted. Methodologically, the paper emphasizes an “investigation-based” approach: mapping constructs to testable propositions, contrasting causal pathways, and consolidating measurement strategies used in prior empirical studies. The review concludes that buying intention is shaped not only by whether consumers are influenced, but by how, when, and under what conditions influence becomes salient—particularly depending on product type, consumer involvement, cultural context, and trust in the reference source. The paper provides a research agenda for future experimental and longitudinal designs to refine causal inference.
Slicing the Market: STP Analysis of Fast-Food Purchase Behavior in Makassar Muhammad Ilham Wardhana Haeruddin
International Humanity Advance, Business & Sciences Vol 3 No 3 (2026): January
Publisher : PT Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59971/ijhabs.v3i3.1004

Abstract

This study seeks to examine the impact of segmentation, targeting, and positioning on consumer purchasing decisions at fast food establishments in Makassar City. This study employs a quantitative methodology utilising a survey technique through questions administered to 180 respondents selected via the Hair formula. The data were subjected to validity tests, reliability tests, and multiple linear regression to assess the partial and simultaneous effects among factors. The research findings indicate that segmentation and targeting exert a favourable and considerable influence on purchase decisions, however positioning does not demonstrate a meaningful partial effect. The three STP variables concurrently exert a substantial impact on customer purchase decisions. These findings confirm that effective segmentation and targeting methods are more influential in improving purchase decisions than placement in the context of fast food restaurants in Makassar.