Ultima Management : Jurnal Ilmu Manajemen
Ultima Management : Jurnal Ilmu Manajemen merupakan Jurnal Ilmu Manajemen yang menyajikan artikel-artikel penelitian ilmiah dalam bidang manajemen serta isu-isu teoritis dan praktis terkini. Kajian mencakup Manajemen Stratejik, Manajemen Pemasaran, Manajemen Sumber Daya Manusia, Manajemen Keuangan, Kewirausahaan, Investasi, Technopreneurship dan topik-topik lain yang berkaitan dengan manajemen perusahaan. Jurnal Ultima Management diterbitkan oleh Program Studi Manajemen – Universitas Multimedia Nusantara (UMN) secara berkala setiap enam bulanan.
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<![CDATA[LEVERAGE EFFECT BETWEEN ISLAMIC STOCK AND SRI INDICES: CASE OF INDONESIA ]]>
<![CDATA[Nur Dhani Hendranastiti]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 14 No 2 (2022): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v14i2.2912
<![CDATA[Abstract- This paper examines the difference in leverage effect between the Islamic stock index and the SRI index using the Indonesian data for a period before and during-after the COVID-19 pandemic. The interrelated issues of health and environment, starting from the COVID-19 pandemic, energy use, and environmental issues can have a different effects on different asset classes. With the distinctive feature of the Islamic stock index and SRI index, it can attract investors who want to diversify their portfolio to hedge against the health and environmental crisis. This study aims to examine the volatility risk in ISSI and SRI-Kehati as an impact of various events in 2020-2022. This paper attempts to test the leverage effect for a longer period incorporating the various major events in 2020-2022. This study uses daily price index data of ISSI and SRI-Kehati Index for the period 10/04/2013-28/11/2022 and employed the ARMA-EGARCH models to answer the objectives. The results show that there is a leverage effect in ISSI and SRI-Kehati for a period before and during-after the COVID-19 pandemic although the magnitude is lower after the during-after pandemic. The leverage effect indicates that the negative return that occurred in the constituents of both indices leads to higher volatility, implying that both indices are not prone to various events. The lower magnitude of the leverage effect on SRI-Kehati can give better assurance for investors regarding the volatility risk of the index. Keywords: Islamic Stock Index; SRI Index; COVID-19; Crisis; Leverage Effect]]>
<![CDATA[MACROECONOMIC ANALYSIS OF THE INDONESIAN NICKEL INDUSTRY USING DEPEST ANALYSIS ]]>
<![CDATA[Pauline H.Pattyranie Tan]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 14 No 2 (2022): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v14i2.2933
<![CDATA[Abstract- The global push to accelerate the electric car industry is expected to increase world demand for nickel until 2030. Indonesia is the largest producer, with a Nickel production of 800,000 tons, or 30% of the world supply. The Indonesian government then responded to this global situation by issuing a law banning the export of 1.8% low-grade Nickel, in line with its policy of accelerating the national Strategic Project (PSN), focusing on nickel downstream (besides downstream other minerals and coal) to increase added value to strengthen the competitiveness of the national nickel industry on an international scale, suppressing imports and also creating energy independence. In an effort to achieve this downstream, it is necessary to carry out a macroeconomic analysis of the various opportunities and challenges faced in developing the Indonesian Nickel industry. This external analysis is the analysis Demography factors, Economy, Political, Ecological, and Social Technology (DEPEST). The results show: 1) Southeast Sulawesi has a demographic bonus with a low unemployment rate and the potential to be trained in trade and mining. 2) In terms of economic factors, Southeast Sulawesi Nickel has quite large reserves, and the LQ showed that the mining and quarrying sector has the highest comparative advantage compared to other basic sectors. 3) So far government regulations are accelerating the provision of added value to domestically manufactured products by relying on domestic raw materials. 4) The impact on socio-culture is to increase the community’s welfare around the mining area as long as it is carried out while maintaining environmental sustainability. 5) There is a promising technology for downstream Nickel. Keywords: Nickel Industry; Smelter; DEPEST Analysis]]>
<![CDATA[CONSUMER IMPULSE BUYING BEHAVIOUR: THE ROLE OF CONFIDENCE AS A MODERATING EFFECT ]]>
<![CDATA[Yokie Radnan Kristiyono]]>;
<![CDATA[Kimberly Gozali]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 14 No 2 (2022): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v14i2.2937
<![CDATA[Abstract- To evaluate impulse buying behaviour in consumers and how confidence moderates the variables being tested, which is an interesting phenomenon considering the fact that personal values and perceptions dictate each and every individual’s behaviour as a consumer. This research paper attempts to elaborate consumer behaviour of individuals who purchase on impulse through social comparison, materialistic tendencies, negative affectivity, and confidence levels of individuals. This research topic is relatively new as there hasn’t been any study done which examines impulse buying in Indonesian citizens with the following variables that have been conducted in Vietnam, let alone conducted under post Covid-19 conditions. The data gathered was obtained through a Google Forms questionnaire in which respondents had to use the Likert Scale to rate the agreeability of each statement. The data was compiled and processed using Smart-PLS 4 software. This research showed that social comparison and materialism positively impacted impulse buying but negative affect did not. Furthermore, confidence moderated the relationship between social comparison and impulse buying but did not moderate the relationship between impulse buying and social comparison. It can be concluded that everyone is unique in terms of behaviour and mindset which may benefit marketers to develop effective marketing strategies to induce purchasing behaviours. This research may also act as a reminder for consumers to spend wisely. Keywords: Impulse Buying; Social Comparison; Materialism; Negative Affect; Confidence]]>
<![CDATA[PENGARUH SOCIAL INFLUENCES TERHADAP STICKINESS PEMBELIAN POWERAMP PREMIUM ]]>
<![CDATA[Kevin, Kevin]]>;
<![CDATA[Wella, Wella]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 15 No 1 (2023): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v15i1.3000
<![CDATA[Abstract- Poweramp is an application that is divided into 2, freemium and premium, Poweramp application is a music player application that is ranked as number 1 in Google Play. Poweramp application can be downloaded through Google Play. Poweramp freemium have been downloaded by 45 million people, meanwhile Poweramp premium have been downloaded by 1 million people. There are significant differences between Poweramp freemium and premium application. This phenomenon is used as a basis for comparisons between free and paid applications that are increasingly appearing. Many free applications that actually deliver viruses and malware. Therefore, this research aims to analyze the factors that influence a person to download Poweramp freemium application and buying the Poweramp premium. In the process of doing this research, literature reviews from other relevant journals are needed. Amidst the research, a questionnaire is created with Google Form and is distributed to respondents that have already buy Poweramp premium application. There are in total 100 valid responses that is gathered from the respondents. The data that have been gathered are then analyzed with Partial Least Square method by using SmartPLS software. The stages that is needed to be done in PLS method are to rate the Measurement Model, Discriminant Validity, Reliability Test, Average Variance Extracted (AVE), and to analyze the hypothesis received from the output of Result for Inner Weights. Results from the research shows that social factors have significant influence towards people’s decision to download Poweramp freemium application, and continuing to buy Poweramp premium application. Keywords: Application; Poweramp; Social Factors; Stickiness; Partial Least Square]]>
<![CDATA[LEGAL AND ETHICAL ASPECT OF DOUBLE INSURANCE IN INDONESIA: A LITERATURE REVIEW ]]>
<![CDATA[Wongkar, Kanon Mommsen]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 15 No 1 (2023): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v15i1.3011
<![CDATA[Abstract- This paper examines the existence of legal as well as ethical aspects of marketing particularly in the insurance sector. The matter discussed in this paper is concerning double insurance practices whereas marketers within certain insurance companies still satisfy their customer with certain insurance coverage to any loss that is already covered under another insurance product with goal to gain profit from a claim. Insurance industry shows promising future recently. Nonetheless certain practices seem to break the rules. Among others is double insurance practices. Basically this is prohibited under Indonesian commercial code but somehow is still in practice nowadays. To avoid illegal as well as unethical activities concerning double insurance practices, it is required that Indonesia have National Database of Insurance Coverage where all coverages are registered under one system by which an insurance company may avoid double insurance prior to underwriting certain risk. This research is a literature research covering literature as well as regulation enforceable in Indonesia as well as other countries for comparison. The research shows that coordination of benefit and co-insurance mechanisms are allowed mechanisms of double insurance while the other mechanisms are prohibited. Principle of contribution and subrogation well known in insurance to avoid any loss caused by waiver and estoppel arisen from a double insurance practice. In managerial ground, ethical code of conduct as well as its application and evaluation is mandatory to avoid any possible flaw concerning double insurance. Keywords: Misrepresentation; Double Insurance; Marketing Ethics]]>
<![CDATA[PENGARUH SOCIAL MEDIA MARKETING TERHADAP CONSUMER BRAND ENGAGEMENT DAN BRAND KNOWLEDGE: STUDI EMPIRIS PADA AKUN INSTAGRAM MENANTEA ]]>
<![CDATA[Revaliana, Amanda]]>;
<![CDATA[Susilawaty, Lilis]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 15 No 1 (2023): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v15i1.3018
<![CDATA[Abstract - The growth of the F&B business is currently growing very rapidly in Indonesia, one of the F&B businesses currently growing rapidly is Menantea. This study aims to see the influence of social media marketing elements on Consumer Brand Engagement and Brand Knowledge on Instagram Menantea social media accounts. This study uses a quantitative approach and a sample of 155. The sampling method uses non-probability with convenience sampling techniques. Data were analyzed using Smart-PLS 3.0 software. The results of this study reveal that the elements namely EWOM, Interaction and Trendiness have a significant influence on Consumer Brand Engagement which has implications for brand knowledge. However, the variable elements, namely Entertainment and Customisation, are not significant to Consumer Brand Engagement on Menantea's Instagram social media accounts. For further researchers, they can conduct research on other social media platforms such as Tiktok or Twitter Menantea so that comparisons can be made, then they can study variables that can affect Consumer Brand Engagement and Brand Knowledge. Keywords: Brand Knowledge; Consumer Brand Engagement; Social Media Marketing Element]]>
<![CDATA[DETERMINAN MINAT MENGGUNAKAN APLIKASI REKSA DANA BIBIT PADA MAHASISWA ]]>
<![CDATA[Aliyah, Safa]]>;
<![CDATA[Medyawati, Henny]]>;
<![CDATA[Yunanto, Muhamad]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 15 No 1 (2023): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v15i1.3119
<![CDATA[Abstract- The purpose of this research was to analyze the effect of perceived ease of use, trust and product knowledge on interest in using the Aplikasi Reksa Dana Bibit on students/I Gunadarma University Faculty of Economics 2018. This research will also find the most dominant in the research model. The source of the data for this research is primary data obtained with a questionnaire instrument distributed via google form. The data in this study were successfully collected as many as 100 respondents who were valid and reliable. The test stages carried out in this study were: validity test, reliability test, normality, heteroscedasticity, multicollinearity, multiple linear regression, multiple linear coefficients, coefficient of determination, f test and t test were used to test the hypothesis. The sampling method in this study is non-probability sampling with purposive sampling technique.The results of this research is the variable perceived ease of use, trust and product knowledge had an effect on interest in using the Aplikasi Reksa Dana Bibit. The most dominant variable in this study was the product knowledge variable. Keywords: Aplikasi Bibit; Kepercayaan; Minat menggunakan; Persepsi Kemudahan Penggunaan; Pengetahuan Produk]]>
<![CDATA[TALENT ATTRACTION, TALENT RETENTION, AND TALENT MANAGEMENT AS A MEDIATING ON ORGANIZATION PERFORMANCE ]]>
<![CDATA[Sembiring, Edward]]>;
<![CDATA[Damayanti, Nur]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 15 No 1 (2023): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v15i1.3125
<![CDATA[Abstract- An effective human resource management system is related to people, policies, and systems that affect the workforce. An organization consists of labor, money, materials, and machines. When an organization prepares to compete globally, it must have skilled workers that strengthen their intelligence to develop the market and apply the best organizational learning practices. Human resource quantity and quality are directly proportional to organizational performance and productivity. One of the most difficult challenges in management is developing and retaining a workforce that contributes to organizational performance. This study investigates the impact of human resource management on talent attraction, talent management, and talent management on organizational performance in large-scale and coal maining companies. This study uses SPSS 2.6 version to analyze 119 respondents. Results of this study are talent attraction significantly impacts talent management, talent retention significantly influence talent management. Talent attraction significantly affects organizational performance, talent retention did not influence employee performance. Talent management has a significant influence on employee performance. Talent attraction has a significant impact on organizational performance mediated by talent management and talent management variable as a mediating variable helps talent retention by providing an indirect effect on organizational performance.. The limitations of this study are cross-sectional empirical studies and the variables in this study are measured based on the responses of top and middle management staff only. The research findings suggest that further research should examine other fields related to human resources, especially focusing on the influence of talent retention on organizational performance and talent attraction on organizational performance through talent management as a mediating variable with different dimensions and elements. Keywords: Mining Industry; Talent Attraction; Talent Retention; Talent Management; Organizational Performance]]>
<![CDATA[TECHNICAL ANALYSIS IN COMPANIES LISTED ON LQ45 ON THE INDONESIA STOCK EXCHANGE 2011–2018 ]]>
<![CDATA[Putra, Angga Sanita]]>;
<![CDATA[Miharja, Rediawan]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 15 No 1 (2023): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v15i1.3175
<![CDATA[Abstract- Technical analysis is an investment strategy known by investors to reduce the risks that occur in stock investments. The assumption of technical analysis that uses past data contradicts the efficient market hypothesis, where technical analysis cannot obtain abnormal returns in an efficient market, and not all markets are efficient because there are things that can interfere with market efficiency, namely behavioral finance and Indonesia is an emerging market capital. This study aims to compare how significant is the difference between return obtained through a technical analysis applying simple moving average strategy and return obtained from the buy hold strategy in the sideways period, bullish period, and also during the all period of both sideways and bullish. This will imply whether or not the market in Indonesia has been efficient. To compare the differences in returns in this study, t test was conducted with SPSS 23 for companies listed on LQ45 on the Indonesia Stock Exchange. From the results of the difference in returns in this study, it was found that the market in Indonesia was efficient in the weak form because of the non-significant difference of return of the simple moving average strategy and buy-hold-startegy. This result will provide a reference for investors to choose the best investment strategy in Indonesia. Research focuses on weak form efficient markets during the bullish and sideways periods. Further researchers can also examine the bearish market. Keywords: Technical Analysis; Efficient Market Hypothesis; Behavioral Finance; Emerging Market Capital; Simple Moving Average; Indonesia Stock Exchange]]>
<![CDATA[UNLOCKING PRIVATE INVESTMENT BY EXPANDING THE SCOPE OF EXISTING TOLL ROAD PPPs AGREEMENTS ]]>
<![CDATA[Azka, Fahmi Amika]]>;
<![CDATA[Hendranastiti, Nur Dhani]]>
<![CDATA[ Ultima Management : Jurnal Ilmu Manajemen Vol 15 No 1 (2023): Ultima Management : Jurnal Ilmu Manajemen ]]>
Publisher : <![CDATA[Universitas Multimedia Nusantara ]]>
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DOI: 10.31937/manajemen.v15i1.3180
<![CDATA[Abstract - The inability of governments in many developing countries to provide basic infrastructure has encouraged the adoption of Public Private Partnership (PPP) schemes. However, many developing countries fail to attract sufficient private investment from the PPP market. This paper develops alternative schemes that can minimize the funding gap and promote sustainable infrastructure investment through modified PPP agreements at later stages of the project life cycle by making special tariff adjustments on existing toll roads. To answer research questions, both conceptual model development and empirical analysis are utilized. The study collects both quantitative and qualitative data for analysis and interpretatio. The results indicate that expanding the scope of existing PPP agreements increases the net present value as it allows for larger cash inflows at the start, leading to a faster payback period. Additionally, this scheme reduces the need for cash deficiency support during the initial period of operation. The alternative schemes encourage lower support for government subsidies, offer a reasonable tariff for users, and provide an attractive investment return for private interests. Keywords: Public Private Partnership; Concession Agreement; Toll Road; Sustainable Investment, Funding Gap]]>
