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INDONESIA
Indikator: Jurnal Ilmiah Manajemen & Bisnis
ISSN : 25986783     EISSN : 25984888     DOI : -
Core Subject : Science,
INDIKATOR is a scientific journal of management and business published three times a year in January, April and August. The journal scope and focus are human resource management, marketing and finance.
Arjuna Subject : -
Articles 266 Documents
Market Reactions to Religious National Holidays: Evidence from Idul Fitri and Idul Adha in Consumer Cyclical Firms Listed on the Indonesia Stock Exchange Hassan, Khothibul Umam; Prasetyo, Tri Joko
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 3 (2025)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v9i3.34641

Abstract

This study examines the impact of Islamic religious holidays Eid al-Fitr and Eid al-Adha on the Indonesian capital market, focusing on abnormal returns (AR) and trading volume activity (TVA) in the consumer cyclicals sector. Using an event study methodology, data from 70 companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022 were analyzed. The results indicate a significant market reaction to Eid al-Fitr, with abnormal returns observed on H−3 (three days before) and H+2 (two days after the event, suggesting investor anticipation of increased consumer spending. However, no significant AR or TVA anomalies were detected for Eid al-Adha, likely due to its lesser economic impact. Trading volumes showed no statistically significant changes during either holiday, aligning with the semi-strong form of the Efficient Market Hypothesis (EMH), which posits that public information is rapidly reflected in stock prices. These findings highlight the nuanced influence of cultural and religious events on market behavior, with Eid al-Fitr generating short-term inefficiencies while Eid al-Adha does not. The study contributes to the literature on behavioral finance and market efficiency in emerging economies, offering insights for investors and policymakers on holiday-driven market dynamics.
The Influence Capital Structure, Liquidity, Dividend policy, and Profitability to Firm Value Sriyanto, Edi; Hikmah, Khoirul; Sukarno, Agus
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 3 (2025)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v9i3.34149

Abstract

This study aims to examine the effect of capital structure, liquidity, dividend policy, and profitability on firm value. The research employs a quantitative approach using secondary data obtained from the financial statements of companies listed on the LQ45 Index of the Indonesia Stock Exchange. A purposive sampling technique was applied, resulting in 70 firm-year observations from 2020 to 2024. The data were analyzed using multiple linear regression with SPSS 20. The findings reveal that capital structure, liquidity, dividend policy, and profitability jointly have a significant impact on firm value. However, capital structure individually shows no significant effect. In contrast, liquidity, dividend policy, and profitability each demonstrate a positive and significant influence on firm value. These results suggest that firms can enhance their value by improving financial performance, particularly through maintaining adequate liquidity, implementing consistent dividend policies, and increasing profitability.
Mediating Role of Knowledge Sharing in Increasing Innovative Work Behavior in the Mandiri Inhealth Yogyakarta Salsabila, Tiara Aulia; Mardiana, Tri
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 3 (2025)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v9i3.32999

Abstract

This study aims to examine and analyze the mediating role of knowledge sharing in the relationship between organizational justice and employees’ innovative work behavior at the service office of PT Asuransi Jiwa Inhealth Indonesia in Yogyakarta. This research adopts a quantitative approach. The analytical method employed is path analysis using SmartPLS 4. The study population consisted of 174 employees, with a sample of 121 respondents selected through proportional stratified random sampling. The findings reveal that organizational justice positively and significantly affects both innovative work behavior and knowledge sharing. Furthermore, knowledge sharing also has a positive and significant effect on innovative work behavior. It is also found that knowledge sharing acts as a mediator in the relationship between organizational justice and innovative work behavior.
The Influence of Influencer Credibility on Purchase Intention of Cosmetic Products (A Study on Followers of the Influencer Tasya Farasya) Azzahra, Afifah; Roslina, Roslina
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 3 (2025)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v9i3.34638

Abstract

The rapid expansion of social media has led to the increasing use of influencers in digital marketing. This study examines the effect of influencer credibility comprising attractiveness, expertise, and trustworthiness on consumers’ purchase intention, with a focus on followers of TikTok influencer Tasya Farasya. Data were obtained from 180 respondents using purposive sampling and analyzed through multiple linear regression, t-tests, and the coefficient of determination (R²) using SPSS software. The findings reveal that attractiveness has no significant effect on purchase intention. In contrast, both expertise and trustworthiness significantly influence consumer intentions to purchase cosmetic products. This study contributes to the literature by clarifying which dimensions of influencer credibility drive consumer behavior. The results offer practical implications for the beauty industry in selecting credible influencers and for influencers in maintaining expertise and authenticity to enhance promotional effectiveness.
Behavioral Finance of MSMEs: The Role of Digital Finance, Financial Literacy, and Financial Attitude Maulani, Rury Indah; Risman, Asep
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 3 (2025)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v9i3.33232

Abstract

This study aims to examine the influence of digital finance, financial literacy, and financial attitudes on the financial management behavior of Micro, Small, and Medium Enterprises (MSMEs) in the City of Tangerang. The population in this research consists of 115,000 MSME actors. The sample used comprises 100 respondents, determined based on the Slovin formula. The sampling technique employed is simple random sampling. Data were collected through a survey method using a questionnaire as the research instrument. The data were analyzed using the Partial Least Square (PLS) software. The findings demonstrate that digital finance has a positive effect on financial management behavior, financial literacy positively influences financial management behavior, and financial attitudes also have a positive impact on financial management behavior.
The Influence of Perceived Organizational Support, Work Environment, and Organizational Commitment on Employee Performance with Organizational Citizenship Behavior as a Mediating Variable at PT Lembaga Keuangan Mikro BKD Mandiri Banyuwangi Nurananda, Prisa; Mardiana, Tri; Warsiki, A. Y. N.
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 3 (2025)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v9i3.34153

Abstract

This study was conducted at PT. Lembaga Keuangan Mikro BKD Mandiri Banyuwangi with the aim of examining the influence of perceived organizational support on employee performance, the influence of work environment on employee performance, the influence of organizational commitment on employee performance, the indirect influence of perceived organizational support on employee performance through organizational citizenship behavior as a mediating variable, the indirect influence of work environment on employee performance through organizational citizenship behavior as a mediating variable, and the indirect influence of organizational commitment on employee performance through organizational citizenship behavior as a mediating variable. This research employed a quantitative method using the SmartPLS 3.0 application through outer model testing, inner model testing, and hypothesis testing. The sample consisted of 88 employees who responded to a questionnaire, and all responses were declared valid and reliable. The results of this study indicate that perceived organizational support has a positive and significant effect on employee performance, the work environment has a positive and significant effect on employee performance, and organizational commitment has a positive and significant effect on employee performance. Furthermore, perceived organizational support has a positive and significant indirect effect on employee performance through organizational citizenship behavior as a mediating variable. Similarly, the work environment and organizational commitment also have positive and significant indirect effects on employee performance through organizational citizenship behavior as a mediating variable.
The Positioning of Coffee Shops Based on Consumer Perceptions: Study of Coffee Shops in Brebes Regency Aziz, Muhamad Syahrul; Iskandar, Khalid; Ikhwan, Syariefful
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 8, No 1 (2024)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v8i1.25394

Abstract

The coffee shops are starting to bloom in Indonesia and are attracting more and more coffee lovers. Coffee shop growth rates also occur in Brebes Regency. Many new coffee shop brands offer new facilities and concepts to the community, especially the Brebes Regency area, so that every coffee shop entrepreneur must know the positioning in order to survive in the competition. The purpose of this study was to determine the mapping of consumer perceptions of the 3 coffee shops included in the research object in Brebes Regency, namely Kelirumology Coffee, Rajaswa Coffee and Warkop 12 based on the attributes of service quality, brand, location, facilities, price, menu diversity, and atmosphere so that useful to know the positioning of the coffee shop. Positioning is determined by reading the perceptual maps generated based on multidimensional scaling (MDS) analysis. The research data were obtained from questionnaires, library research, and direct observation according to the research objectives. The analysis technique uses multidimensional scaling with a sample of 86 respondents from consumers who have visited the 3 coffee shops. The results showed that consumers have their own perception of each brand based on the attributes of service quality, brand, location, facilities, price, menu variety and atmosphere. On the perception map, the coffee shop brand Kelirumologi Kopi leads because it is in quadrant I with positive coordinates in each dimension. Coffee shop brand Warkop 12 is in quadrant III. The Rajaswa Coffee brand is in quadrant IV. The results of the Kelirumologi Coffee coffee shop mapping lead with superior menu diversity, prices and facilities. But Kelirumologi Kopi has a weakness in brand attributes. Rajaswa Coffee coffee shop ranks second with excellence in brand and location attributes. But Rajaswa Coffee has weaknesses in the attributes of service quality and menu variety. Coffee shop Warkop 12 last place with excellence in service quality and atmosphere. And Warkop 12 has weaknesses in the attributes of location and price.
The Effect of Corporate Governance Mechanisms and Intellectual Capital on Financial Performance with Company Value as an Intervening Variable Aprilia, Berliana; Pratiwi, Nila; Pondrinal, Muhammad
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 8, No 3 (2024)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v8i3.26888

Abstract

This study aims to determine how much influence corporate governance mechanisms and intellectual capital have on financial performance with firm value as an intervening variable. In this study, the object used is a Banking Company listed on the Indonesia Stock Exchange (BEI) in 2018-2022. The data collection method is through secondary data and library research with data sourced from quantitative data. This study used 41 samples of banking companies with purposive sampling method through descriptive statistical analysis and multiple linear regression analysis. Based on the research results obtained from the Partial Test (t test) obtained: (a) The corporate governance mechanism has no significant effect on firm value. (b) Intellectual Capital has a significant effect on firm value. (c) Corporate governance mechanisms have no significant effect on financial performance. (d) Intellectual capital has a significant effect on financial performance. (e) Firm value has no significant effect on financial performance. (f) Corporate governance mechanisms have no significant effect on financial performance through firm value. (g) Intellectual capital has no significant effect on financial performance through firm value.
The Influence of Work Discipline, Transformational Leadership Style, and Job Training on Employee Performance Rosallina, Monica Nathasya; Hikmah, Khoirul
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 8, No 2 (2024)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v8i2.25779

Abstract

Currently, the ability of human resources greatly determines the success of a company in achieving its goals. The purpose of this study is to determine the influence of work discipline, transformational leadership style, and job training on employee performance at Bank Kalteng Tamiang Layang. This study used quantitative methods with an associational descriptive approach using questionnaires as a data measuring tool. The population in this study amounted to 32 employees. Sampling technique using non-probability sampling. Data analysis in this study consisted of multiple linear regression analysis and hypothesis testing using SPSS application. The results of this study are known that the work discipline variable has a significance value of 0.848. The Transformational Leadership Style variable has a significance value of 0.255. The job training variable has a significance value of 0.192. So it can be concluded that work discipline, transformational leadership style, and job training have a positive and significant effect on employee performance at Bank Kalteng Tamiang Layang.
The Influence of Leadership, Organizational Commitment, and Work Environment on Employee Performance Ismansyah, Defrino; Parwoto, Parwoto
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 8, No 1 (2024)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v8i1.23359

Abstract

This study aims to determine the effect of leadership, organizational commitment and work environment on employee performance at PT Sugity Creatives Indonesia. The research method is associative research, with data collection through a questionnaire, literature study and interviews. Testing was carried out with a sample of 64 people using the purposive sampling method, measurement scales using Likert scale. On the analysis of data using multiple linear regression test with SPSS 26 program.Testing of partial variable results that showed leadership affected the employee performance with a level of significance of 0.007 < 0.05. organizational commitment has no effect on employee performance with a level of significance of 0.110> 0.05, and work environment affects employee performance with a level of significance of 0.032< 0.05. Therefore, it needs to be a serious concern for leaders in PT Sugity Creatives Indonesia affecting the performance of the employees, of some of the indicators that the author described based on a detailed questionnaire results are expected to increasingly see the performance of employees in PT Sugity Creatives Indonesia.