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Petra International journal of Business Studies (IJBS)
Published by Universitas Kristen Petra Surabaya
ISSN : -     EISSN : 26216426     DOI : https://doi.org/10.9744/ijbs
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Petra IJBS (Petra International Journal of Business Studies, ISSN: 2621-6426) is a peer-reviewed journal published under the Master of Management program, Faculty of Economics, Petra Christian University (MM FE UKP). The journal serves as a vessel for exchanging business knowledge to scholars and practitioners, which publish their scholarly works twice a year (June and December).
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Articles 13 Documents
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Search results for , issue "Vol. 8 No. 2 (2025): DECEMBER 2025" : 13 Documents clear
Understanding Moslem Friendly Tourism in the Lombok Island: A Halal Tourism Literacy Role Didy Ika Supryadi; Lalu Edy Herman Mulyono; Santi Nururly; Himawan Sutanto; Taufan Handika Putra
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.246-256

Abstract

This study aims to examine the impact of information overload on the purchase behavior of millennials residing in Java. This study aims to identify the contribution of halal tourism literacy based on self-efficacy theory to visit decisions by integrating push and pull motivation theory as a bridge. Based on this theoretical framework, this study aims to analyze the relationship between halal tourism literacy, internal motivation, and external motivation in encouraging visit decisions. This research was conducted using primary data, namely by distributing questionnaires online via Google Forms and disseminating them through social media, namely Instagram, Line, and WhatsApp. The sampling technique used was purposive sampling, with a sample size of 150 respondents. Data processing uses Partial Least Squares (Smart-PLS) version 3.2.9. This study found that halal tourism literacy does not directly influence the decision to visit, but halal tourism literacy indirectly influences the decision to visit through internal motivation. Similarly, external motivation can mediate the relationship between halal tourism literacy and the decision to visit. This study contributes to resolving the controversy in previous research regarding the influence of halal tourism literacy on travel decisions. This study adds to the existing literature. Instead of relying solely on Halal Tourism Literacy, this study integrates Push and Pull Motivation Theory as a mediating framework, showing that internal and external motivations play a key role in driving the decision to visit Lombok Island. This study offers a more comprehensive, empirical approach, providing valuable insights for tourism stakeholders to focus on Halal compliance and the motivating factors that enhance the appeal of Muslim-friendly destinations.
When Fear of Missing Out Meets Fatigue: Understanding How Social Media Dynamics Shape Travel Intentions in West Sumatra Astri Yuza Sari; Ofanto Ofanto; Hari Setia Putra; Fitria Ridhaningsih; Jefriyanto Jefriyanto
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.236-245

Abstract

In today’s digital landscape, the Fear of Missing Out (FoMO) has become a strong psychological driver influencing how people choose travel destinations, particularly when those places gain popularity on social media. However, the constant stream of curated posts can also trigger social media fatigue (SMF), reducing enthusiasm for travel. This study investigates how FoMO affects tourists’ intentions to visit destinations in West Sumatra and explores whether SMF mediates this relationship. Data were collected through an online questionnaire distributed via Instagram and WhatsApp among users who regularly engage with travel-related content. A total of 500 valid responses were analyzed using SmartPLS to test both direct and mediating effects. The findings highlight how digital and psychological factors jointly shape travel behavior and offer destination marketers insights into creating authentic, sustainable social media strategies that balance online excitement with emotional well-being.
The Impact of Strategic Renewal on Startup Performance: The Role of Digital Transformation and Market Pressure in SaaS-Based Startups in Jakarta and Surabaya Robertus Adi Nugroho; Bernardus Aris Ferdinan; Maria Indah Lestari Sepungan
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.219-235

Abstract

The performance of a newly formed business is critical. This is especially true for organizations that are in fast-changing and intensely competitive markets. This study examines business performance and strategic renewal with particular emphasis on digital transformation as a mediator and market pressure as a moderator. Grounded in the Dynamic Capability Theory, the study sampled 181 Software as a Service (SaaS) startups in Jakarta and Surabaya, and the data were analyzed using PLS-SEM. The study found that strategic renewal and digital transformation (β = 0.647; p < 0.001) and organizational performance (β = 0.874; p < 0.001) are all significantly and positively correlated. The lack of evidence for the impact of strategic renewal on performance (β = 0.016; p = 0.753) suggests that there is no relationship, which is indicative of full mediation, with the implication that digital transformation is a full mediator. In addition, market pressure positively moderates the relationship between digital transformation and performance (β = 0.120; p = 0.017), underscoring the importance of industry competition. The study also contributes to dynamic capability theory by demonstrating the relationships among strategic renewal, digital transformation, and performance. The main practical implications from the research is that strategic plans should be combined with agile responsive digital market strategy plans.
Corporate Financial Decisions, Financial Stability, and Firm Value in Indonesian Manufacturing Firms Sugeng Haryanto; Retna Safriliana; Nanda Arsy Mutiah; Muhammad Umar Ariefudin; Yanuar Bachtiar
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.206-218

Abstract

This study aims to analyze the effect of corporate financial decisions on firm value, with financial stability as a moderating variable. Firm size and firm age variables are used as control variables. Financial decisions consist of investment decisions, financing decisions, and dividend decisions. We include firm size and firm age as control variables. This study was conducted on manufacturing companies that went public on the Indonesian Stock Exchange. This study was conducted on manufacturing companies that went public on the IDX. The number of company samples was 123, and the number of analysis data was 1,230. The analysis technique used was moderated regression analysis (MRA). The study's findings indicate that financial decisions have a positive effect on firm value. Financial stability is able to strengthen the company's financial decisions on firm value. The study's findings show that corporate stability is essential information for investors.
Financial Wellness Gen Z: The Influence of Financial Literacy, Behavior, Stress, Religiosity, Locus of Control, and FOMO Windi Tri Pani; Susnaningsih Muat
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.195-205

Abstract

This study aims to determine the effect of financial literacy, financial behavior, financial stress, religiosity, locus of control, and fear of missing out (FOMO) on the financial wellness of Generation Z in Riau Province. Generation Z is a productive age group facing a transition from education to work, marked by consumerist patterns, social media influence, and financial management challenges. This study uses a quantitative approach, employing an online survey, to reach Generation Z in 10 districts and 2 cities in Riau Province. The sample used in this study was 402 respondents selected through purposive sampling. The respondents were Generation Z individuals born in 1997-2007, domiciled in Riau Province, and data analysis was conducted using SPSS and SmartPLS software version 4. The research findings show that financial literacy, behavior, and locus of control have a significant positive effect on financial wellness. Financial stress and religiosity have a positive but insignificant impact on financial wellness. Meanwhile, fear of missing out (FOMO) negatively impacts the financial wellness of Gen Z in Riau Province.
The Effect of Corporate Governance, Firm Size, and Dividend Policy on Firm Value Fajrianti Fajrianti; Ibram Pinondang Dalimunthe
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.186-194

Abstract

The valuation of a firm serves as a crucial metric for investors, as it encapsulates the entity's total performance and market perception.  This study assesses the impact of corporate governance, firm size, and dividend policy on corporate value.  Corporate governance is assessed using the ASEAN Corporate Governance Scorecard (ACGS); company size is quantified by the natural logarithm of total assets (SIZE); dividend policy is evaluated by dividends per share (DPS); and company value is determined by the price-to-book value (PBV) ratio.  This research employs a quantitative methodology.  The population comprises non-cyclical consumer sector firms listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023, amounting to 125 companies.  A purposive sample was conducted, yielding 69 companies and 345 data points.  Panel data regression analysis was performed using EViews 12.  The study's findings indicated that firm size adversely affects firm value, whereas the dividend policy positively influences it.  Conversely, corporate governance does not exert a substantial impact on the company's worth.
The Influence of Work Motivation, Reward, Work Environment, and Job Satisfaction on Employee Performance in Concrete Iron Companies in Indonesia Angela Jovita Listyarini; Sukmo Hadi Nugroho
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.174-185

Abstract

Work Motivation plays a crucial role in driving employees to contribute effectively to a company. Reward and Work Environment act as key supporting elements that help employees attain job satisfaction and enhance their performance. This study aims to examine how Work Motivation, Reward, Work Environment, and Job Satisfaction influence Employee Performance within Concrete Iron Companies in Indonesia. The research utilized a saturated sample method, involving all staff employees in the concrete iron industry, with a total of 180 respondents. Data analysis was performed using the Structural Equation Model (SEM) method using SmartPLS 3.29. The findings indicate that Reward positively influences both Work Motivation and Job Satisfaction. Additionally, Work Environment and Work Motivation both positively affect Job Satisfaction. Furthermore, Work Motivation and Job Satisfaction each have a positive impact on Employee Performance, as does Work Environment. The managerial implication of this research highlights the importance of fostering work motivation, job satisfaction, and employee performance among employees to generate overall positive outcomes for the company.
Highlighting the Strategic Value of Green Process Innovation in the Basic Materials Sector Nanda Atika Sari; Alfonsa Dian Sumarna
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.271-280

Abstract

As awareness of environmental and social issues increases, responsible business practices, such as green accounting, Corporate Social Responsibility (CSR) disclosure, and green process innovation, are increasingly recognized for their role in creating long-term value. This study aims to empirically examine the impact of three sustainability initiatives (green accounting, CSR disclosure, and green process innovation) on company profitability in the basic materials sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2020-2024 period. Green accounting and CSR disclosure have not been proven to have a significant impact on company profitability. However, different findings were found for green process innovation, which showed a positive and significant effect on profitability. This implies that companies' efforts to integrate innovative practices that reduce environmental impacts into their operational processes tend to correlate with improved financial performance. Green process innovation has been empirically proven to have a positive influence, as it can serve as a source of competitive advantage that is difficult to imitate (inimitable), thereby driving profitability. Companies should allocate more resources to developing green process innovations, such as energy efficiency, waste recycling, and low-emission technologies. Investments in R&D and collaborations with third parties can be effective strategies for accelerating innovation.
The Moderating Role of ESG Disclosure on The Relationship Between Growth Opportunities, Financial Constraints, and Investment Decisions Tessa Vanina Soetanto; Adelina Proboyo; Lianto Lianto
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.166-173

Abstract

This study investigated the role of ESG disclosure in moderating the relationship between growth opportunities, financial constraints, and corporate investment decisions. While growth opportunities usually encourage firms to invest more, financial constraints often limit their capability to do so. ESG performance, reflecting a company’s commitment to sustainable and responsible practices, influences how firms navigate these two conflicting forces. 174 firm-year observations of publicly listed manufacturing companies in Indonesia from 2017–2023 were analyzed and processed using the Least Squares Dummy Variable (LSDV) estimator, clustered by year, in Stata 19. The results showed that ESG disclosure significantly moderated the relationship between financial constraints and investment decisions, but did not moderate the relationship between growth opportunities and investment decisions.  The result suggests that manufacturing firms should adopt more ESG practices to improve access to financing and make better investment decisions.
Understanding How Local Food Experiences and Cultural Competence Influence Culinary Tourist Behavior Sesilya Kempa; Felix Hartono; Devi Destiani Andilas
Petra International Journal of Business Studies Vol. 8 No. 2 (2025): DECEMBER 2025
Publisher : Master of Management, School of Business and Management, Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/petraijbs.8.2.157-165

Abstract

Traditional cuisine is a cultural element with significant potential for driving tourism development, making understanding the psychological mechanisms that influence tourist intentions crucial. Four dimensions of experience—novel, authentic, sensory, and social experience—were examined to determine how each contributed to the formation of behavioral intentions through cultural competence. Data were collected from 101 domestic tourists who had visited Surakarta as a sample and analyzed using SmartPLS 4.0. The results showed that sensory and social experiences significantly influenced behavioral intention through increased cultural competence. Conversely, novel and authentic experiences did not show a significant mediating effect. These findings emphasize the importance of optimizing sensory and social aspects in designing Surakarta culinary tourism experiences and offer managerial implications for developing culture-based destination strategies.

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