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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).
Arjuna Subject : -
Articles 198 Documents
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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.
The Effect of ESG Performance on Firm Value and Financial Distress with ESG Controversies as A Moderating Variable Daniel Godwin Sihotang; Sylvia Veronica Siregar
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.8.2.257-270

Abstract

This study aims to analyze the impact of Environmental, Social, and Governance (ESG) performance on firm value and financial distress among non-financial companies listed on the Indonesia Stock Exchange (IDX) during the period 2018–2024, with ESG Controversies serving as a moderating variable. Firm value is measured using Tobin’s Q, while financial distress is assessed through the Altman Z-Score. The research dataset consists of 276 company-year observations obtained from Thomson Reuters (Refinitiv) and annual financial reports. Regression results indicate that ESG performance does not have a statistically significant effect on either firm value or financial distress. However, ESG Controversies are found to significantly moderate the relationship between ESG performance and firm value. The interaction between ESG Score and ESG Controversies suggests that ESG-related Controversies weaken the positive effects of strong ESG performance, thereby reducing the potential benefits for firms. On the other hand, this interaction does not show a significant influence on financial distress. These findings suggest that while ESG performance alone has not yet directly influenced financial outcomes, the presence of ESG Controversies can diminish the positive perception of ESG performance and affect market valuation. This study contributes to the existing ESG literature, particularly in emerging markets like Indonesia, by highlighting that beyond ESG scores, reputational factors such as ESG Controversies must also be effectively managed. Practically, this implies that companies should proactively avoid controversial ESG issues to maintain stakeholder trust and enhance long-term sustainability.
Understanding Patient Satisfaction Using SERVQUAL-Kano: The Moderating Role of Patient Trust and the Mediating Role of Waiting Time Tolerance Rafelito Kharisma Rahardjo; Desak Made Febri Purnama Sari; Gede Sri Darma; Putu Dyah Permatha Korry
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.8.2.144-156

Abstract

This study examines factors influencing patient satisfaction at private primary healthcare facilities (FKTP) in Bali, focusing on SERVQUAL dimensions, waiting time tolerance, patient trust, and Kano model attributes. Using a quantitative design and Partial Least Squares Structural Equation Modelling (PLS-SEM) on data from 188 respondents, the study found that assurance and patient safety significantly influence patient satisfaction, while tangibility, reliability, empathy, and responsiveness did not show significant effects. Assurance and responsiveness positively influence waiting time tolerance, which itself positively influences satisfaction. Waiting time tolerance did not mediate the relationship between SERVQUAL dimensions and satisfaction. Patient trust did not directly influence patient satisfaction but negatively moderated the impact of tangibility on satisfaction. Kano model attributes – categorized as attractive, one-dimensional, and must-be – showed no significant direct effect on satisfaction, reflecting their asymmetric and non-linear nature. The findings suggest that private FKTP should prioritize maintaining high assurance and patient safety standards alongside attractive features such as 24-hour service and patient feedback systems. Integrating patient safety into the SERVQUAL framework is recommended in the healthcare sector. Future research should explore patient satisfaction through longitudinal and qualitative approaches to better capture the dynamic nature of healthcare service quality.
Effect of Supplier–Buyer Collaboration, Product Innovation, Process Innovation, and Quality Management Adoption on Firm Performance Ronaldo Richard Gunawan; Hotlan Siagian; Zeplin Jiwa Husada Tarigan
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.8.2.131-143

Abstract

Cooperation between companies, such as manufacturers and suppliers, can stabilize raw material procurement, ensuring the production process meets customer needs. Companies need to adopt quality management to innovate processes and products and achieve good performance. This study aims to examine the influence of supplier-buyer collaboration on firm performance through product innovation, process innovation, and Quality Management Adoption.  Distribution of questionnaires to 103 manufacturing companies in East Java using purposive sampling techniques. The results of data processing using PLS version 4 software found that supplier-buyer collaboration has a direct influence on quality management adoption and innovation processes, but not on product innovation. The quality management adoption that is formed has a direct impact on the innovation process, product innovation, and firm performance. Companies that innovate processes can also innovate products, thereby further improving company performance. Periodic product innovation can enhance a firm's performance. The practical contribution of this research provides top management with insight to commit to building sustainable collaboration with suppliers to support innovation processes and quality management systems. It is recommended that companies adopt the ISO system to implement a standard quality system as needed. Terrorist contributions can strengthen the integration of quality management and supply chain management within the framework of a resource-based view.

Page 20 of 20 | Total Record : 198

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