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All Journal Jurnal Manajemen IJBE (Integrated Journal of Business and Economics) Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan YUME : Journal of Management MBIA Journal Of Management Science (JMAS) SULTANIST: Jurnal Manajemen dan Keuangan Jurnal Bisnis Dan Kajian Strategi Manajemen Progress: Jurnal Pendidikan, Akuntansi dan Keuangan Economics and Digital Business Review El-kahfi : Journal of Islamic economics Transekonomika : Akuntansi, Bisnis dan Keuangan JOURNAL OF HUMANITIES, SOCIAL SCIENCES AND BUSINESS (JHSSB) Jurnal Akutansi Manajemen Ekonomi Kewirausahaan (JAMEK) Sinomika Journal: Publikasi Ilmiah Bidang Ekonomi dan Akuntansi Journal of Applied Management Research Bulletin of Management and Business CASHFLOW : CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Journal of Management, Accounting, General Finance and International Economic Issues (MARGINAL) Journal of Scientific Research, Education, and Technology Kompeten: Jurnal Ilmiah Ekonomi dan Bisnis Economics and Business Journal Journal of Artificial Intelligence and Digital Business Jurnal Manajemen Innovative: Journal Of Social Science Research Benefit : Journal of Bussiness, Economics, and Finance DECISION : Jurnal Ekonomi dan Bisnis (JIMBE) (JUMPER) Southeast Asia Journal of Business, Accounting, and Entrepreneurship Entrepreneurship, Management, and Business Research Journal Jurnal Riset Bisnis, Manajemen, dan Ilmu Ekonomi IJHABS Jurnal Akuntansi Pajak dan Manajemen IJRE
Ruma, Zainal
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Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Environmental Science Health Professions Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Library & Information Science Public Health Social Sciences Other

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Journal : Economics and Business Journal

 1 
The Effect of Internal Motivation and External Motivation on The Performance of Honorary Teachers at State Junior High Schools in Tarowang District, Jeneponto Regency Ruma, Zainal
Economics and Business Journal (ECBIS) Vol. 1 No. 2 (2023): January
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (231.161 KB) | DOI: 10.47353/ecbis.v1i2.6

Abstract

This research aims to know and explain the effects of internal motivation (X1) and external motivation (X2) on teacher Performance (Y). To figure out the internal motivation influence (X1) partially towards the teacher's performance (Y) and external motivation influence (X2) partially towards the teacher's performance (Y). This research was conducted at SMP Negeri di Tarowang Kabuaten Jeneponto Sub-district. The population and samples in this study are all honorary teachers at SMP Negeri in Tarowang Sub-district of Jeneponto district amounting to 34 people. The data collection techniques are done by providing questionnaires and observations. The data analysis technique used is multiple linear regression through the SPSS 21 application. External motivation to the performance of the honorary teachers had a very strong relationship. The results of multiple linear regression analyses showed that the contribution given by internal motivation and external motivation to the performance of the honorary teacher of the state Junior high School in Tarowang sub-district of Jeneponto was 63%.
The Influence of Work Stress on Employee Work Motivation in Regional Assets and Financial Agency in Barru District Afriansyah; Dipoatmodjo, Tenri S.P.; Ruma, Zainal; Sahabuddin, Romansyah; Burhanuddin; Syahrul, Khaidir
Economics and Business Journal (ECBIS) Vol. 1 No. 6 (2023): September
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v1i6.10

Abstract

This research examines The Influence of Work Stress on Employee Work Motivation in Financial Institutions and Regional Assets of Barru Regency. The purpose of this research is to find out The Influence of Work Stress on Employee Work Motivation in Financial Institutions and Regional Assets of Barru Regency. This research approach is quantitative. This research was conducted at the Regional Financial and Asset Agency of Barru Regency. The sample used was 68 people. Data collection techniques in the form of observation, questionnaires and documentation. Data analysis techniques include validity test, reliability test, normality test, descriptive analysis, simple linear regression analysis, t test (partial) and coefficient determination test (r2). The research results show thatwork stress has a negative and effect onwork motivation. The higher the work stress experienced by employees, the morework motivationemployees are decreasing. When an employee in carrying out his duties, gets a high work load, will take actions that can reduce the quality of his work there by reducing motivation at work. So it is concluded thatwork stress havenegative influenceto work motivation at the Regional Financial and Asset Agency of Barru Regency.
The Influence of Green Training, Green Recruitment and Green Transformational Leadership on Sustainable Corporate Performance at PT Kima Makassar Ruma, Zainal
Economics and Business Journal (ECBIS) Vol. 2 No. 2 (2024): January
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v2i1.114

Abstract

The aim of this research is to evaluate the influence of Green Training, Green Recruitment, and Green Transformational Leadership on Sustainable Corporate Performance separately and simultaneously. In this research, a quantitative approach was used, and the sample was 100 people who worked at PT KIMA Makassar. The research results show that Green Training (X1) partially has a positive and significant impact on Sustainable Corporate Performance. The calculated t value is 3.165, lower than the t table value of 1.984, and the significance value is 0.003, less than 0.05. Apart from that, Green Training also has a positive and significant impact on Sustainable Corporate Performance, with a calculated t value of 4.181, which exceeds the t table of 1.984, and a significance value of 0.000 below 0.05. On the other hand, Green Transformational Leadership also has a positive impact on Sustainable Corporate Performance, with a calculated t value of 7.019, which exceeds the t table of 1.984, and a significance value of 0.000 below 0.05. Apart from that, a simultaneous test was carried out on the influence of Green Training (X1), Green Recruitment (X2), and Green Transformational Leadership (X3) on Sustainable Corporate Performance. The results show a calculated f of 78.706, which exceeds the f table of 2.70, and a significance value of 0.000 is less than 0.05.
The Influence of Online Shopping Applications on The Welfare of Traders in The Sungguminasa Traditional Market Area Ruma, Zainal
Economics and Business Journal (ECBIS) Vol. 1 No. 6 (2023): September
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v1i6.115

Abstract

This research investigates the impact of using online shopping applications on the welfare of traditional market traders in the Sungguminasa Traditional Market area. This study explores changes in business patterns, income, and living conditions of traditional market traders as a result of the penetration of online shopping applications. The research methods used include surveys, and interviews, to measure the extent to which online shopping applications influence their well-being. The results of this research provide valuable insight into economic and social changes in traditional markets due to continuously developing digital technology.
Optimal Portfolio Formation With Single Index Method: Study on Stocks Listed in the IDX High Dividend 20 Index on the Indonesia Stock Exchange for Period 2019-2022 Faisal, Fanny Indrayanti; Ruma, Zainal; Anwar; Budiyanti, Hety; Natsir, Uhud Darmawan
Economics and Business Journal (ECBIS) Vol. 1 No. 5 (2023): July
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v1i5.62

Abstract

This study aims to (1) find out the composition of shares that can be formed into an optimal portfolio of IDX High Dividend 20 shares listed on the IDX for the period 2019 - 2022 using the single index model. (2) Knowing the proportion of funds that must be invested in each of the IDX High Dividend 20 shares listed on the IDX for the 2019 - 2022 period which forms a portfolio. (3) Knowing the amount of return and risk from the optimal IDX High Dividend 20 portfolio recorded on the IDX for the period 2019 - 2022 using the single index model. The sample of this research is 29 company shares selected based on purposive sampling technique. Data collection techniques are carried out with documentation. Data analysis technique uses a single index model.The results of this study indicate that there are 12 company shares included in the optimal portfolio, namely ADRO of 11.9%, BBCA of 8.7%, BBRI of 2.5%, BMRI of 13.1%, LPPF of 3.5%, ITMG of 11.3%, PTBA of 0.6% , TOWR 0.5%, DMAS 2.2%, ANTM 14.5%, HEXA 25.3%, and MPMX 5.9%. The expected return that investors get from the optimal portfolio formed is 0.0279 or 2.79% per month. The portfolio risk borne by the investor on investment from the optimal portfolio is (portfolio variance of 0.0144 or 1.44% and a standard deviation of 0.12 or 12% per month.
The Effect of Sales Promotion and Brand Awareness on Iconnet Purchase Decisions at PT. Icon+ in Makassar City Ananda, Muhammad Fadly; Ruma, Zainal; Musa, Muh. Ichwan; Hasbiah, Siti; Wardhana Haeruddin, Muhammad Ilham
Economics and Business Journal (ECBIS) Vol. 1 No. 5 (2023): July
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v1i5.70

Abstract

The purpose of this study was to determine the effect of sales promotions and brand awareness on purchasing decisions for Iconnet at PT. Icon+ in Makassar City. The population in this study are Iconnet customers. Sampling in this study used the slovin formula so that 96 respondents were sampled. The type of research used is associative research. The data used is primary data obtained by distributing questionnaires to customers. The results of the study after being processed with SPSS 25 show that there is a partially significant effect between the independent variables on the dependent variable as evidenced by the t value of the sales promotion variable (X1) of 7.015 > t table of 1.661 with a sig. 0.000 < 0.05, and the calculated t value of the brand awareness variable (X2) is 2.873 > t table 1.661 with a significant value of 0.005 <0.05. Simultaneously there is a significant effect between the independent variable on the dependent variable as evidenced by the multiple linear regression equation Y = 4.565 + 0.302 X1 + 0.155 X2 +e and the significant effect of F count 41.345 > F table 3.094 with a significant level of 0.00 <0.05 The R Square value or the coefficient of determination of 0.471 indicates that 47.1% of the purchasing decision variable (Y) is influenced or can be explained by the independent variables of sales promotion and brand awareness, while the remaining 52.9% is explained by other variables not included in the this research. Based on this description.
The Effect of Cash Flow on Liquidity Levels at PT. Wijaya Karya (Persero) Tbk on the Indonesian Stock Exchange Nurjihanar, Nurul Mutmainnah; Ruma, Zainal; Anwar
Economics and Business Journal (ECBIS) Vol. 1 No. 1 (2022): November
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v1i1.98

Abstract

This research aims to determine the effect of cash flow on the level of liquidity at PT. Wijaya Karya (Persero) Tbk on the Indonesian Stock Exchange. The type of research used is descriptive quantitative. The research population is the financial statements of PT. Wijaya Karya (Persero) Tbk for 5 (five) periods, namely 2015-2019. The samples for this research are the balance sheet, profit and loss report and cash flow report of PT. Wijaya Karya (Persero) Tbk for 5 (five) periods, namely 2015-2019. The data in this research is secondary data with data collection techniques using documentation methods for company financial reports. The data analysis technique uses multiple linear regression analysis.Partial research results (t test) state that partial operating cash flow does not have a significant effect on liquidity. Meanwhile, the investment cash flow variable partially has a significant effect on the level of liquidity. And the partial funding cash flow variable has no significant effect on liquidity. Simultaneous research results (F test) state that operating cash flow, investment cash flow and funding cash flow have a value of Fcount > Ftable (3.275 > 2.95) and a significance value of < 0.05 (0.003 < 0.05), So it can be concluded that the operating cash flow, investment cash flow and funding cash flow variables simultaneously have a significant effect on the level of liquidity.
From Justice To Jazz: Exploring The Improvisational Flow Of Support And Citizenship Behaviour In The Hospitality Industry Dipoatmodjo, Tenri Sayu Puspitaningsih; Ruma, Zainal; Hamka, Rezky Amalia; Angreyani, Andi Dewi; Arif, Hery Maulana
Economics and Business Journal (ECBIS) Vol. 4 No. 1 (2025): November
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i1.246

Abstract

This study aims to analyze the effect of Procedural Justice on Organizational Citizenship Behaviour (OCB) through Perceived Organizational Support (POS) among hotel employees in Makassar City. The research is motivated by the declining extra-role behaviors of employees, which affect service quality, allegedly driven by perceived procedural injustice and low organizational support. Using a quantitative approach and Partial Least Squares Structural Equation Modeling (PLS-SEM), data were collected through questionnaires from employees of three- to five-star hotels. The results reveal that Procedural Justice has a positive and significant effect on both POS and OCB, directly and indirectly. Moreover, POS functions as both a mediator and a moderator, strengthening the relationship between procedural justice and OCB. The R² and Q² values indicate a high explanatory and predictive relevance, while the Goodness of Fit Index confirms the empirical adequacy of the model. These findings support the Social Exchange Theory (Blau, 1964) and Organizational Support Theory (Eisenberger et al., 1986), asserting that fairness and organizational support foster reciprocal relationships that motivate employees to engage in voluntary, extra-role behaviors. This study contributes theoretically by extending the application of social exchange theory within the hospitality context and provides practical implications for hotel management to enhance procedural justice and organizational support as strategies to improve employees’ organizational citizenship behaviour.
Economic Signals from Acquisition Premiums: A Re-Analysis of Stock Price Fluctuations to Assess the Impact of Shareholder Wealth in M&A Transactions Ruma, Zainal
Economics and Business Journal (ECBIS) Vol. 4 No. 1 (2025): November
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i1.146

Abstract

This study investigates the role of acquisition premiums in mergers and acquisitions (M&A) and their impact on shareholder wealth, focusing on five major Indian deals in pharmaceuticals, retail, banking, steel, and renewable energy sectors. Potential synergies often justify acquisition premiums ranging from approximately 15% to 40% above target companies’ market values. However, market responses suggest that such premiums may not consistently result in value creation for acquiring firms' shareholders. Empirical findings reveal mixed outcomes: Sun Pharma’s acquisition of Ranbaxy led to a 9.8% share price increase within five days, while Tata Steel’s high-premium acquisition of Bhushan Steel saw only a 1.7% gain. In contrast, deals like Reliance–Future Retail and Tata Power–Welspun Power showed minimal or negative returns, despite sizable premiums. These patterns indicate that premium size alone is not a reliable predictor of post-deal shareholder wealth creation. The study concludes that M&A success depends more on strategic fit, market timing, and sectoral dynamics than on the premium offered. This analysis contributes to the broader M&A discourse by offering evidence-based insights into how premium valuations can either maximise or dilute shareholder value, aiding investors, corporate strategists, and policy analysts in deal assessment
Co-Authors Abadi , Rahmat Riwayat Abadi, Rahmat Riwayat Abdi Akbar Idris Afriansyah Afriza, Fahril Agung Widhi Kurniawan AGUS AGUS Ahmad Ali Akbar, Wahyullah Alda, Natasya Alhayra, Abdul Rauf Amalia, Hilda Nur Amaliyah, Hasni Ananda, Muhammad Fadly Andi Mustika Amin Angreyani, Andi Dewi Anwar Anwar Anwar Anwar Anwar Ramli Aprilia, Nur Amanda Aprilia, Widya Aqilah, Iqian Fauziah Astuti, Andi Ria Azis, Muh Ilham Burhanuddin Burhanuddin Burhanuddin Burhanuddin, Umar Khalid Chalid Imran Musa Dahlan, Abd Halim Dangnga, M. Taslim Darmawinata, Widhi Nugraha Sumiharja Dipoatmodjo, Tenri S. P. Dipoatmodjo, Tenri S.P. Dipoatmodjo, Tenri Sayu Pupitaningsih Dwi Wulandari Edwin, Muhammad Farid Saputra Efendy, Kayla Putri Zalsabila Eli Rahmawati, Eli Enrico Sasiang, Hizkia Faisal, Fanny Indrayanti Fauzan, Muh Aghil Fazira, Erra Febinda Fiqram, Muh Haikal Friska, Silvi Haeruddin, Ilham Wardhana Haeruddin, M. Ilham Wardhana Haris, Nurfika Rezkiyanti Hasbiah, Siti Hasbiah, Sitti Haslip, M. Azwar Hayati, A. Zahratul Hery Maulana Arif Hety Budiyanti, Hety Hidir, Amrullah Ichwan Musa, Muh Ichwan Musa, Muhammad Ilham Wardhana Haeruddin, Muhammad Ilma Wulansari Hasdiansa imam, imamsatriaalam Iriani, Halizah Putri Irsad Mursalaat, A. Muh. Cakra Irwan, Shabrina Nurfadhilah Isman, Nurhasia Israf Pangeran, M Aco Jamnur, Adrian Maulana Jaya, Ikhlazul Amal Johnson, Nur Atifah Septira Kasibit, Fitriyani Khairinnisai K, Syarifah M. Ikhwan Maulana Haeruddin Mahiruddin, Rizky Amalia Manilet, Fadhil Mujahid Muhammad Fadli Muhammad, A Fadel Mukammil, Ahmad Musa, Muhammad Ichwan Natsir, Uhud Darmawan Nur Hidayah NurAfni NurAfni Nurdin, Ariza Zalzah Nurfadillah T, Rezki Nurjihanar, Nurul Mutmainnah Nurman Nurman Nurman Nurul Fadilah Aswar Nurwinda Paramaswary, Annisa Parawansa, Dian Anggraece Sigit Pasryb, A. Syahida Ulhaq Pradani Muhiding, A. Ifta Audia Putri Pratama A, Irfan Wahyudi Pualillin, Ermiaty Febrini Elviona Purwanto, Ananta Ade Putra, Ryan Pramana Rahayu, Riski Rahman, Fatmawati A. Rasyid, Muh. Futhail Rezky Amalia Hamka Ridwan, Rini Rizky Amelia Risno, Trisnojaya Romansyah Sahabuddin Roshinta, Maudy Rusadi, Rahmayani Adela Cesyta Rusly, Muh. Ammar Haitsam S, Aan Arivaldi Safitri, Nuravini Sapri, Ardiansyah Sari, Fitria Nirmala Sartika Sartika Sayba, Sayba Siti Hasbiah Sri Wulandari Suaib, Aulia Kasmawati Sukma, Sukma Sunanda, Ratu Multi Syahrul, Khaidir Tajuddin, Indriani Maulida Tawe, Amiruddin Tenri Sayu Puspitaningsih Dipoatmodjo Unde, Juliet Triani Wahyudi, Andi Muh. Reza Wardhana Haeruddin, Muh. Ilham Widiati, Ratna Trieka Wulandari, Friska Zahran, Muhammad Zulkarnaen, Muh. Faiq ] Idris, Abdi Akbar