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Asia-Pacific Management and Business Application
Published by Universitas Brawijaya
ISSN : 22528997     EISSN : 26152010     DOI : -
Asia-Pacific Management and Business Application journal (APMBA) is a scholarly journal, publishing internationally leading research across all areas of management. APMBA continuously seeking articles that challenge the affect of globalization through business world through critically informed empirical and theoretical investigations, and present the latest thinking and innovative research on major management topics, while still being accessible and interesting to non-specialists.
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Articles 5 Documents
Search results for , issue "Vol. 14 No. 1 (2025)" : 5 Documents clear
Examining the Impact of Factors on Firm Value with Corporate Social Responsibility as a Moderator: A Generalized Method of Moments Approach in the Consumer Non-Cyclicals Industry Pangestuti, Dewi Cahyani; Tri Siswantini; Alfida Aziz; Heni Nastiti
APMBA (Asia Pacific Management and Business Application) Vol. 14 No. 1 (2025)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2025.014.01.1

Abstract

The non-cyclical consumer sector, which is defined by the production of essential goods, has demonstrated a notable degree of resilience in the face of economic fluctuations. Despite this stability, the dynamics influencing firm value in this sector remain complex. A plethora of literature has been published on topics such as dividend policy, profitability, sales growth, market risk, and inflation. Nevertheless, the role of Corporate Social Responsibility (CSR) as a moderating variable has received less attention. The objective of this study is to address this lacuna by examining the manner in which CSR influences the relationship between these factors and firm value. The objective of the present study is twofold: first, to provide insights into the potential long-term and short-term effects of these variables, and second, to explore the relationship between the variables and the potential effects on the patient's well-being. This study employs the Generalized Method of Moments (GMM) to examine dynamic panel data from 87 companies operating within the Consumer Non-Cyclicals sector and listed on the Indonesia Stock Exchange from 2017 to 2023. The findings of the study demonstrate a positive correlation between profitability and firm value, while market risk and inflation exhibit a negative relationship with firm value. CSR was found to moderate the relationship between profitability, market risk, and inflation but did not moderate the effects of dividend policy or sales growth on firm value. However, its role is context-dependent and does not universally apply to all financial variables.
Comparing Returns: Do Indonesian Government Bonds Underperform Mutual Funds and Stocks? Irianto, Kurniawan Budi; Kamaludin, Kamaludin; Usman, Berto
APMBA (Asia Pacific Management and Business Application) Vol. 14 No. 1 (2025)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2025.014.01.2

Abstract

Investment has long been common among Indonesians, with gold traditionally favored. Recently, younger generations have begun diversifying into capital market instruments such as stocks, mutual funds, and Indonesian government bonds (ORI). While these options offer higher return potential, they also carry greater risk. Retail investors often face obstacles such as limited capital, time constraints, and lack of accessible information, which can hinder optimal investment decisions. This study compares the returns of stocks, mutual funds, and ORI from February 22, 2021, to February 15, 2024. A modified present value formula is used to evaluate each investment, incorporating all cash flows coupon payments, cash dividends, and stock dividends throughout the investment period. This approach addresses a common gap in investment prospectuses, where present value considerations are frequently omitted by investment managers, leading to less accurate return assessments. Findings show that, on average, stocks deliver the highest returns, followed by ORI, with mutual funds yielding the lowest. These results provide practical insights for retail investors aiming to make more informed decisions based on return potential adjusted for the timing of payments.
Strategic Communication of Superordinate Identity in International Marketing: Evidence from Malaysia Madani to Reduce Indonesian Tourism Avoidance Nirwana, Maya Diah; Kriyantono, Rachmat; Mashuri , Ali; Hakim , Muhammad Lukman
APMBA (Asia Pacific Management and Business Application) Vol. 14 No. 1 (2025)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2025.014.01.3

Abstract

Cross-border tourism in Southeast Asia is often hindered by identity-based biases and intergroup animosity, particularly towards immigrant communities. Grounded in Social Identity Theory, this study investigates whether the strategic communication of a superordinate identity framed through Malaysia’s inclusive Malaysia Madani campaign can reduce Indonesian tourism avoidance among Malaysian youth. A one-way between-subjects experimental design was implemented with 92 university students (aged 18–24), randomly assigned to either a treatment group exposed to Malaysia Madani narratives or a control group completing a neutral activity. Participants assessed immigrant population threat, immigrant animosity, cultural openness, perceived authenticity communication, and tourism avoidance using validated 7-point Likert scales. Findings revealed that superordinate identity exerted statistically significant but theoretically inconsistent effects on tourism avoidance via threat or animosity. However, cultural openness significantly moderated the relationship between identity and tourism avoidance, whereas authenticity communication did not. These results underscore the pivotal role of cultural openness in international marketing communication strategies aimed at reducing tourism resistance. Theoretically, the study advances identity-based marketing discourse; practically, it suggests that professionals in marketing and tourism should design campaigns that strengthen inclusive identity and foster openness to re-engage reluctant travellers and revitalise regional tourism.
An Integrated Model of Shared Leadership on Entrepreneurial Team Performance : Evidence From Indonesia Andika; Radityo Putro Handrito; Ana Sofia Aryati
APMBA (Asia Pacific Management and Business Application) Vol. 14 No. 1 (2025)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2025.014.01.4

Abstract

Building an entrepreneurial enterprise with a team is a dynamic process and requires effective teamwork. Thus, The idea of shared leadership as a team leadership approach is crucial. Based on social exchange theory, Through knowledge sharing as a moderator and team trust and creativity as a mediator, we examine how shared leadership might enhance team performance.  To test our hypotheses, data were collected from 71 entrepreneurial teams (306 members and 73 supervisors) through combined online and offline surveys. Aggregated at the team level, Smart PLS 3.0 was used to analyze the data and evaluate the suggested model. Findings reveal that team performance is greatly improved by shared leadership, with trust and creativity partially mediating this effect. Contrary to expectations, knowledge sharing did not moderate the relationship This study advances the literature by introducing team creativity as a previously underexplored mediating mechanism in the link between team performance and shared leadership. Moreover, the use of dyadic data from both leaders and team members strengthens the methodological rigor by mitigating common method bias and enhancing the robustness of the findings. The findings highlight the critical role of building trust and encouraging creativity in boosting team effectiveness, providing meaningful insights for improving entrepreneurship programs in Indonesia and promoting long-term success.
Examining Technical, Human-Social, and Methodological Influences on K-Worker Competency: A Comparative Analysis of Experienced vs. Novice Economics Students at Telkom University Iman Santoso, Teguh; Galuh Tresna Murti; Moch Aminudin Hadi; Muhammad Nurwaskita Alamsyah
APMBA (Asia Pacific Management and Business Application) Vol. 14 No. 1 (2025)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2025.014.01.5

Abstract

The Indonesian labor market faces a significant and persistent skills gap, particularly among knowledge-intensive industries, where Knowledge-workers require specialized competencies. This study seeks to address this gap by examining the roles of technical, human-social, and methodological competencies in enhancing K-worker preparedness among economics students at Telkom University. A cross-sectional survey of 1,401 students evaluates the impact of these competencies and explores how previous work experience affects competency development. Results reveal that each competency—technical, human-social, and methodological—meaningfully contributes to overall Knowledge-worker readiness, with technical skills emerging as the most influential factor in job preparedness. Surprisingly, work experience does not strongly moderate these competency impacts, highlighting that foundational skill development within the curriculum remains paramount for fostering employability. These findings emphasize the need for competency-based education frameworks that prioritize foundational skills to meet the ASEAN labor market's demands. The study provides actionable insights for higher education policymakers and curriculum designers in Indonesia, suggesting that a stronger focus on comprehensive competency-based training can better equip graduates for competitive regional workforce integration. Continuous professional development initiatives are also highlighted as crucial, enabling graduates to adapt and grow in their careers. This research contributes to ongoing discussions on bridging educational outcomes with industry needs and reinforces the role of curriculum reform in promoting workforce competitiveness across Southeast Asia.

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