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Resilience and Employee Well-being in Times of Political Demonstrations: A Literature Review Abdulah, Budiman; Sandopart, Dewa Putu Yohanes Agata L.
Airlangga Journal of Innovation Management Vol. 6 No. 4 (2025): Airlangga Journal of Innovation Management
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/ajim.v6i4.81721

Abstract

This study presents the results of an analysis of scientific trends and developments related to resilience and employee well-being during the period 2020–2025, encompassing 225 articles, 214 keywords, and 622 authors, with particular attention to issues concerning social dynamics and political demonstrations. This research aims to (1) map the development of publications and citation trends related to resilience and employee well-being; (2) identify the most influential authors, countries, and research collaborations; (3) evaluate the main themes and shifts in research focus throughout the study period; and (4) assess the extent to which resilience and employee well-being are linked to the context of political demonstrations in the global literature. This study employs a bibliometric approach, reviewing publication counts, citation trends, geographical distribution of research, and dominant themes. The results indicate an increase in the number of publications from 25 articles in 2020 to 48 articles in 2024, followed by a slight decrease in 2025 (45 articles). Citation trends declined from an average of 33.6 in 2020 to 1.36 in 2025, reflecting a time lag in the accumulation of scientific impact. The most prominent topics include employee well-being and well-being, followed by burnout, job satisfaction, and employee engagement. These findings illustrate that employee resilience and well-being have become a matter of international concern and that research specifically examining the relationship between the two and political demonstrations remains limited. In practical terms, this study recommends the need for organizational strategies and public policies that improve mental health support, work flexibility, and employee well-being holistically.
The Mediation of Buying interest to Shopping Lifestyle and Discount on Product Purchase Decision Abdulah, Budiman; Sandopart, Dewa Putu Yohanes Agata L.; Hapsari, Denintha Dwi
Widya Cipta: Jurnal Sekretari dan Manajemen Vol. 8 No. 2 (2024): September
Publisher : Universitas Bina Sarana Informatika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31294/widyacipta.v8i2.12230

Abstract

This study aims to determine the effect of shopping lifestyle on buying interest, discounts on buying interest, buying interest in purchasing decisions, shopping lifestyle on purchasing decisions through buying interest and discounts on purchasing decisions through product buying interest in the Shopee Indonesia marketplace. This study uses a quantitative approach, with an unknown population and a sample of 200 respondents. The sampling technique uses a statistical calculation method, namely using the Hair et al formula. While the type of sample used is purposive sampling, the analysis method uses Structural Equation Modeling (SEM) SmartPLS software version 3.0. The results showed that shopping lifetsyle had a positive and significant effect on purchase intention, discount had a positive and significant effect on purchase intention, purchase intention had a positive and significant effect on purchasing decisions, shopping lifestyle had a positive and significant effect on purchasing decisions through purchase intention, discount had a positive and significant effect on purchasing decisions through purchase intention. The practical implications of this research are expected to help shopee companies to maintain sales promotions by providing discounts to their consumers, because shopping lifestyle and discounts have a significant influence on buying interest and purchasing decisions.
Deviations in the Initial Public Offering (IPO) Process as the Root of Stock Price Manipulation: A Case Study of Issuers in Indonesia for the 2020–2025 Period Sandopart, Dewa Putu Yohanes Agata L.; Adek, Lie; Sandopart, Dewa Ayu Indiana Ida Loemongga; Wijayanti, Erma
Journal of Economics and Management Vol. 4 No. 1 (2026): Journal of Economics and Management, March 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i1.459

Abstract

This study analyzes deviations in the Initial Public Offering (IPO) process as the root of stock price manipulation among issuers in Indonesia for the 2020-2025 period. Using a qualitative approach with a multiple case study method, this research examines three issuers sanctioned by the Financial Services Authority (OJK): PT Berkah Beton Sadaya Tbk (BEBS), PT Repower Asia Indonesia Tbk (REAL), and PT Multi Makmur Lemindo Tbk (PIPA). Data were collected through in-depth interviews with 12 informants consisting of former OJK/Indonesia Stock Exchange (IDX) officials, capital market practitioners, academics, investigative journalists, and legal practitioners, as well as document analysis of prospectuses, financial statements, and OJK documents. The results identify four forms of IPO deviations: manipulation of material fact information, share allotment engineering, due diligence procedure violations, and discrepancies in the use of IPO funds. The BEBS case demonstrates how IPO deviations create structural conditions that facilitate pump-and-dump schemes through 57 nominee accounts, generating manipulative profits of IDR 14.5 trillion. This study identifies five factors causing weak detection and prevention: regulatory factors, law enforcement, corporate governance, market structure, and economic incentives. These findings confirm the OJK's statement that the root of stock price manipulation originates from deviations in the IPO process and emphasize the need for stronger supervision and enforcement.
Violations of the Prudential Principle and Fraudulent Practices in Indonesia’s Capital Market: A Case Analysis of OJK Sanctions Against Listed Firms Sandopart, Dewa Putu Yohanes Agata L.; Adek, Lie; Sandopart, Dewa Ayu Indiana Ida Loemongga; Wijayanti, Erma
Journal of Economics and Management Vol. 3 No. 3 (2025): Journal of Economics and Management, December 2025
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v3i3.461

Abstract

This research investigates how breaches of the prudential principle contribute to fraud within Indonesia’s capital market, focusing on listed entities penalized by the Financial Services Authority (OJK). Utilizing a qualitative multiple-case study approach, the analysis centers on four prominent cases: PT Repower Asia Indonesia Tbk (REAL), PT Multi Makmur Lemindo Tbk (PIPA), PT Bliss Properti Indonesia Tbk (POSA), and PT Mirae Asset Sekuritas Indonesia. Secondary data were gathered from OJK official statements, sanction rulings, national media reports, and legal documents spanning 2022–2025. Through pattern-matching and cross-case synthesis, three recurring violation patterns emerged: inadequate customer due diligence by underwriters, submission of inaccurate information during share subscription and allocation, and lapses in directors’ internal oversight. Fraudulent schemes primarily involved masking true beneficial ownership via nominee structures and offshore vehicles, alongside the fictitious recognition of assets financed by IPO proceeds. OJK’s enforcement strategy demonstrates a tiered, proportionate approach that extends to market intermediaries and, in select instances, crosses national borders. A notable systemic flaw identified is an enforcement delay of up to two years, which may weaken deterrence. The study validates the applicability of the fraud pentagon framework in emerging markets and offers actionable recommendations for enhancing risk-oriented supervision.
Resilience of Poultry SMEs: Sustainable Innovation for Environmental Management in Jakarta: A Literature Review Sandopart, Dewa Putu Yohanes Agata L.
Journal of Economics and Management Vol. 2 No. 3 (2024): Journal of Economics and Management, December 2024
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v2i3.464

Abstract

This study analyzes the development of the topic of SME resilience and sustainable innovation published between 2021 and 2024. Based on an analysis of 92 registered documents, it was found that the number of publications each year has grown by 27.23% annually, reflecting rapid development in this field. The majority of the publications are scholarly articles with an average document age of 1.38 years, indicating that this topic is highly relevant and receiving significant attention in the current period. Furthermore, these documents have been well received in the academic community, with an average citation per document of 5,228. The study also reveals widespread collaboration among authors, with 307 authors involved, 34.78% of whom are international, indicating a global dimension to this research. Topics discussed include resource management, operational efficiency, and the social and environmental impacts of SMEs. Overall, the results of this study show that SME resilience and sustainable innovation are gaining significant attention in the academic community, driven by international collaboration and innovative approaches to addressing sustainability challenges in business.
The Influence of Cristiano Ronaldo's Individual Record Achievements on Sponsor Firms' Abnormal Stock Returns: A Case Study of Nike and Herbalife Sandopart, Dewa Putu Yohanes Agata L.
Journal of Economics and Management Vol. 1 No. 3 (2023): Journal of Economics and Management, December 2023
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v1i3.499

Abstract

This study analyzes the influence of Cristiano Ronaldo's individual record achievements on the abnormal stock returns of sponsoring companies, focusing on Nike and Herbalife as case studies. The phenomenon of elite athlete endorsement has become a common practice in corporate marketing strategy; however, the literature remains limited in explaining the mechanism through which positive athletic performance affects shareholder value. This research employs a qualitative approach with a multiple-case study design. Data were collected through in-depth interviews with 12 informants comprising financial analysts, sports marketing experts, and retail investors, as well as document analysis of financial reports, analyst reports, and media coverage from the 2017–2023 period. The findings reveal that Cristiano Ronaldo's individual record achievements exert an asymmetric influence on abnormal stock returns: Nike demonstrates a positive response characterized by increased trading volume and investor sentiment, whereas Herbalife shows no significant response. Four key moderating factors are identified: brand-athlete congruence, investor profile, framing in analyst reports, and macroeconomic context. This study concludes that the effectiveness of athlete endorsement in creating shareholder value is not automatic but depends heavily on the alignment between the athlete's image and the sponsor's brand identity. The theoretical implication extends congruence theory into the domain of behavioral finance, while the practical implication guides corporate management in evaluating endorsement investments.
Investor Expectation Management Strategies through IPO Roadshow and Book-building Processes Sandopart, Dewa Putu Yohanes Agata L.
Jurnal Ekonomi, Manajemen, dan Bisnis Vol. 3 No. 2 (2025): Jurnal Ekonomi, Manajemen dan Bisnis
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Kalibra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/emis.v3i2.477

Abstract

This study explores investor expectation management strategies implemented by issuers and underwriters during the roadshow and book-building process of Initial Public Offerings (IPOs) on the Indonesia Stock Exchange. Employing a qualitative approach with an instrumental case study design, this research analyzes three main issuers representing the technology, consumer, and infrastructure sectors during the 2021-2025 period. Data were collected through in-depth interviews with 24 participants (issuer management, underwriters, institutional investors, and regulators), participant observation at three roadshow sessions, and document analysis of prospectuses and order book data. Thematic analysis yielded six main themes: (1) construction of corporate value narrative through selective framing, (2) two-stage price negotiation reflecting fundamentals and sentiment, (3) management of oversubscription and scarcity perception, (4) iterative feedback mechanisms between stages, (5) strategy differentiation based on issuer characteristics, and (6) implementation challenges and ethical risks. The main findings indicate that small technology companies employ aggressive strategies with the highest underpricing level (28.6%), while large infrastructure companies employ conservative strategies with the lowest underpricing (8.2%). This study confirms and extends Okamoto's (2023) two-step price adjustments model to the Indonesian emerging market context. The novelty lies in the systematic mapping of communication tactics used by management and underwriters in managing heterogeneous investor expectations. Policy implications include recommendations for adopting hybrid IPO auction models and strengthening supervision of selective disclosure practices during roadshows.
Dividend Policy Adaptation Strategies of New Issuers toward Capital Market Expectations: A Phenomenological Study Sandopart, Dewa Putu Yohanes Agata L.
Jurnal Ekonomi, Manajemen, dan Bisnis Vol. 3 No. 2 (2025): Jurnal Ekonomi, Manajemen dan Bisnis
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Kalibra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/emis.v3i2.478

Abstract

This study aims to explore the dividend policy adaptation strategies employed by new issuers in responding to capital market expectations following an initial public offering (IPO). Using an interpretative phenomenological approach, this study involved 12 informants from 8 companies that conducted IPOs on the Indonesia Stock Exchange during the 2021–2023 period. Data were collected through semi-structured in-depth interviews, document analysis, and field notes. Data analysis followed the six-stage Interpretative Phenomenological Analysis (IPA) method. The findings identified four superordinate themes: signaling conformity (adherence to market signals), reported by 83.3% of informants; dividend smoothing, confirmed by all informants (100%); strategic decoupling (separation of formal policy from actual practice), identified in 58.3% of informants; and dividend theater (dividend narration as symbolic performance), which represents the original contribution of this study. The analysis reveals that the dividend policy of new issuers is not merely a rational financial decision but rather a social phenomenon shaped by collective market expectations and institutional legitimacy pressures. This study enriches signaling theory, agency theory, and institutional theory by incorporating processual and contextual dimensions. Policy implications recommend strengthening the Financial Services Authority’s oversight of earnings management practices and mandating new issuers to present more realistic dividend projections in their prospectuses.
Endorsement Communication Strategies in Building Consumer Trust: A Phenomenological Study of Social Media Followers Sandopart, Dewa Putu Yohanes Agata L.
Jurnal Ekonomi, Manajemen, dan Bisnis Vol. 1 No. 2 (2023): Jurnal Ekonomi, Manajemen dan Bisnis
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Kalibra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/emis.v1i2.483

Abstract

The proliferation of endorsement practices on social media has created a paradox: on one hand, it enhances product visibility, yet on the other, it triggers consumer skepticism due to the ambiguity between organic and commercial content. This study aims to explore how social media followers interpret endorsement communication strategies in building—or conversely, eroding—consumer trust. Employing an interpretative phenomenological approach, this research involved in-depth interviews with 23 informants who are active followers of at least three influencer accounts on Instagram and TikTok. The principal findings identify ten interrelated patterns of consumer consciousness: authenticity radar, transactional fatigue, selective trust construction, parasocial compensation, value resonance, digital literacy as a modulator, temporal trust fluctuation, social proof calibration, disclosure cynicism, and post-purchase dissonance. This research contributes to the development of an updated Influencer Trust Decay Theory and offers practical implications for brands and endorsers in designing sustainable communication strategies.
From Celebrity to Speculator – Retail Investor Experiences with Controversial Endorsements and Stock Price Dynamics in Indonesia’s Emerging Market Sandopart, Dewa Putu Yohanes Agata L.
Jurnal Ekonomi, Manajemen, dan Bisnis Vol. 4 No. 1 (2026): Jurnal Ekonomi, Manajemen dan Bisnis
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Kalibra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/emis.v4i1.484

Abstract

Celebrity endorsements and financial influencers have become a significant phenomenon in the Indonesian capital market, coinciding with a rise in stock manipulation cases driven by public figure recommendations. Regulatory authorities have documented numerous alleged capital market violations, including pump-and-dump schemes involving influencers. This study aims to explore in depth how retail investors experience and respond to controversial endorsements, and how these dynamics shape their perceptions of stock prices. Employing a qualitative approach with an instrumental case study design, the research involved interviews with 25 retail investors in Jakarta, Surabaya, and Medan who had invested in stocks promoted by endorsers. The findings identify three experiential patterns: FOMO-driven herding triggered by endorser authority, cognitive dissonance following losses attributable to recommendations, and resilience signaling as a self-defense mechanism. This study contributes by integrating source credibility perspectives with behavioral finance and offers policy implications for capital market regulators in managing influencer activity.