Christian Herdinata
Universitas Ciputra Surabaya, Indonesia

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Banking Services and Financial Performance of MSMEs in Indonesia’s Fashion Industry: A Resource-Based View Analysis Reni Fitriani; Murpin Sembiring; Tommy Christian Efrata; Christian Herdinata
Jurnal Ilmiah Manajemen Kesatuan Vol. 14 No. 2 (2026): JIMKES Edisi March 2026
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v14i2.5015

Abstract

This study investigates the complex interrelationships between business innovation, financial management, banking services, and financial performance among fashion industry MSMEs in Indonesia. This study employed a quantitative research design with both descriptive and explanatory components. Drawing on data from a comprehensive sample across key regions, we employ structural equation modeling to examine both direct relationships and mediation effects. Our findings reveal that business innovation functions as the predominant driver of financial performance through dual mechanisms: a strong direct pathway and an indirect pathway mediated by banking services. Contrary to theoretical expectations, financial management practices primarily enhance performance through banking service utilization rather than through direct effects. Banking services emerge as a crucial mediating mechanism that translates organizational capabilities into enhanced financial outcomes. These results extend resource-based theory by illuminating specific pathways through which organizational capabilities generate competitive advantage and enhance financial intermediation theory by demonstrating that intermediation benefits are contingent on firm-level capabilities. For practitioners and policymakers, our study underscores the strategic importance of innovation development while highlighting how financial management practices can optimize external financial relationships. The research contributes to both theoretical advancement and practical understanding of capability-performance linkages in emerging economy contexts.
Digital Transformation on Competitive Advantage through Customer Experience in Indonesian Companies Ervina Abdul Gani; Christian Herdinata; Liliana Dewi
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 6 (2025): JIMKES Edisi November 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i6.3978

Abstract

Despite the rapid growth of digital transformation in Indonesia, many firms still face challenges such as limited digital literacy, unequal infrastructure, and high implementation costs, which hinder their ability to fully leverage technology to enhance customer experience and achieve a competitive advantage. Drawing on Dynamic Capability Theory, this research examines how digital transformation initiatives influence competitive advantage through enhanced customer experience in the context of a developing economy. The data for this research were collected using an online questionnaire of 350 managers and business leaders from Indonesian companies that have implemented digital transformation initiatives. The sampling criteria included companies with at least one digital transformation initiative implemented in the past two years and respondents with direct involvement in digital transformation programs. Using structural equation modeling for analysis, this study’s results reveal that digital transformation positively influences both directly and indirectly to competitive advantage through customer experience mediation. The findings of this study indicate that customer experience takes a significantly mediating role in translating digital transformation efforts into competitive advantages. Furthermore, the research demonstrates that despite implementation challenges in developing countries, companies can successfully leverage digital transformation to enhance their competitive position through improved customer experience.
Analysis of the Influence of Liquidity, Intellectual Capital, and Capital Structure on Financial Performance in Property Companies Listed on the Indonesia Stock Exchange Putri Ningsih Pribadi; Wiliam Santoso; Christian Herdinata
Journal Research of Social Science, Economics, and Management Vol. 5 No. 5 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i5.1218

Abstract

This study aims to analyze the influence of liquidity, intellectual capital, and capital structure on the financial performance of property companies listed on the Indonesia Stock Exchange (IDX). The research uses a quantitative approach with financial data from property companies over a specific period. Liquidity is measured using the current ratio, intellectual capital is assessed through the Value Added Intellectual Coefficient (VAIC) method, and capital structure is evaluated using the debt-to-equity ratio. Financial performance is measured by return on assets (ROA). The data are analyzed using multiple regression analysis to determine the relationships between the variables. The findings suggest that liquidity has a positive and significant effect on financial performance, while intellectual capital and capital structure show mixed results, with intellectual capital having a significant positive impact and capital structure showing no significant effect. These results highlight the importance of liquidity management and intellectual capital in enhancing financial performance in the property sector. The study provides valuable insights for property companies and investors, emphasizing the need for efficient capital management and leveraging intellectual assets to improve profitability and competitiveness in the market.