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INDONESIA
Business and Finance Journal
ISSN : 25274872     EISSN : 2477393X     DOI : https://doi.org/10.33086/bfj
Core Subject : Economy,
Business and Finance Journal UNUSA (p-ISSN: 2527-4872; e-ISSN: 2477-493X) is a scientific peer-reviewed journal published by Faculty of Economics and Business, Universitas Nahdlatul Ulama Surabaya, Indonesia. Since Established in 2016, BFJ is intended Provide a medium for dissemination of original and quality research on various topic in business, finance and economics.
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Articles 221 Documents
A Comparative Analysis of Firm Risk Influence on Working Capital Investment Decisions in Developed and Emerging Economies Pitt, Lucian J
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.5921

Abstract

This study delves into the correlation between a company's decision to invest in working capital and a diverse range of internal (firm-specific) and external risks. Employing dynamic panel data estimation, it analysed data from 2,996 firms in developed and emerging economies. The findings robustly support the anticipated relationship between a company's risks and its investment in working capital, except market risks. Furthermore, the study uncovers that this correlation is more pronounced for firms in developed economies than those in emerging economies, potentially attributable to more accessible access to working capital funding and more formal planning processes. These results significantly contribute to filling a gap in academic research in corporate finance relating to the influence of firm risk on working capital investment decisions in developed and emerging economies.
THE INFLUENCE OF MARKETING MIX ON PURCHASING DECISIONS OF HERBAL MEDICINE CONSUMERS AT CV AA wisanggeni, helmi; hermeindito
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6026

Abstract

The increasing demand for herbal medicine, particularly in the form of jamu, in Indonesia presents a business opportunity for jamu producers. The growing number of jamu producers has led to intense competition, prompting companies to meet consumer needs, expand their market reach, and innovate to maintain and dominate the market with their products. This research aims to determine the influence of the 4Ps marketing mix on consumer purchase decisions for CV AA's jamu products. This study adopts a quantitative approach. The population consists of consumers who purchase CV AA's jamu products throughout Indonesia. Based on the Slovin formula, the sample size for this study is determined to be 141 individuals. Data collection is done through an online questionnaire using Google Forms, and the analysis technique used is multiple linear regression. The results of this study show that product, price, promotion, and place have a positive and significant influence on consumer purchase decisions for CV AA's jamu products. To improve consumer decisions, CV AA should continually enhance the quality of its jamu products, set competitive prices that align with the value offered, utilize effective promotional channels, and improve distribution efficiency while ensuring product availability in various sales locations.
COMPANY PERFORMANCE AND ESG DISCLOSURE: DOES COUNTRY GOVERNANCE MATTER? (EVIDENCE FROM SOUTHEAST ASIA) Prasetyo, Doni Iwan; Y Anni Aryani
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6063

Abstract

This study aims to examine the effect of ESG disclosure on company performance and to analyze the moderating effect of country governance on the relationship between ESG and company performance. The study population comprises real estate companies operating in five Southeast Asian countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand (ASEAN-5). The findings reveal that ESG disclosure negatively affects firm performance, highlighting a divergence from the increasing global emphasis on sustainability issues. This indicates that Southeast Asian stakeholders may still undervalue the importance of investments in ESG-related areas. However, the study also finds that good national governance significantly moderates this relationship, mitigating the adverse effects of ESG disclosure on firm performance. This underscores effective governance's crucial role in enhancing ESG practices' benefits. The research provides valuable insights for policymakers and business leaders in the region, emphasizing the need for improved governance structures to support sustainable business practices.
DESIGNING SERVICE BLUEPRINT AT THE HOTEL LABORATORY OF CIPUTRA UNIVERSITY agustina, karina enny; Hermeindito
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6095

Abstract

The tourism industry has recovered from the effect of pandemic covid-19, that makes the stakeholders in the hospitality sector must be able to respond; including hotel managers and higher education institutions that have tourism and hospitality study programs. However, this phenomenon is inversely proportional to the number of workers in the tourism industry who have tourism education up to a bachelor’s degree. This shows that there is a need for useful learning facilities to accelerate the competency of Hospitality graduates, such as the availability of practical laboratories and hotel systems that are operated to resemble real activities. The object of this research is the Ciputra University Laboratory Hotel which operates on March 2023 with a fluctuative occupancy rate. The operational activities of the Hotel Laboratory are handled by staff (internship students) who changes every day which makes a great possibility of service inconsistencies delivered to the hotel guests, therefore it is necessary to have a service system that can be used as a reference for the services delivered to the guests hotel in a form of a service blueprint. This research uses a qualitative approach with triangulation of data sources, the number of informants are 8 people represented by experts in the field of hotel management, internal management of the Hotel Laboratory and customers (guests) of the Hotel Laboratory. The final results of this research is represented in a form of service blueprint chart that can be implemented by employees (internship students) who are working at the Hotel Laboratory of Ciputra University.
STRATEGY FOR IMPROVING THE QUALITY OF DINE IN SERVICES AT MIE MAPAN RESTAURANT Riesthandie; Nadlifatin, Reny; Krisprimandoyo, D. Agung
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6232

Abstract

This study aims to measure service quality at Mie Mapan, especially during on-site dining, prove the relationship between service quality and repurchase intention and brand image, and determine the improvement strategies that need to be done. This study involved 145 customers of Mie Mapan restaurants in four branches, namely Mie Mapan Rungkut, Mie Mapan Barata, Mie Mapan Kusuma Bangsa and Mie Mapan MERR. The data obtained is then analyzed using SEM-PLS to prove the hypothesis. SERVQUAL and IPA methods are used to measure service quality and level of importance according to customers. Then the QFD method is used to determine the improvement strategy needed. The results of this study indicate that there is a significant influence between service quality on purchase intention, service quality on brand image, and brand image on purchase intention. This study also shows that the brand image variable is able to mediate the effect of service quality on purchase intention. The quality of service at Mie Mapan in the restaurant where the research was conducted is still considered low. There are four significant indicators to improve performance, namely: restaurant cleanliness, the appropriateness of cutlery, speed and accuracy of service and menu variations. The improvement strategy that needs to be done is to always renew cutlery regularly, check and monitor employee discipline, improve employee skills, provide facilities, and add menu variations.
SUSTAINABLE DIGITAL-BASED HUMAN RESOURCE CAPACITY MODEL DESIGN TOWARDS A BLUE ECONOMY TOURISM AREA IN TANJUNG WIDORO VILLAGE, MENGARE ISLAND, GRESIK REGENCY Mujanah, Siti; UROHMAN, TAUFIQ; Ridwan, M. Sihab
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6251

Abstract

The potential for blue economy tourism on Tanjung Widoro Village, Mengare Island, Gresik, East Java requires the support of competent human resources and community participation for management that supports economic improvement and environmental sustainability. This study aims to design a digital-based sustainable human resource capacity model using a qualitative approach with in-depth interviews. The research results show that the digital-based sustainable HR capacity model includes continuous training in technical, managerial and digital aspects, strengthening the organization through local leadership, collaborative work culture, functional organizational structure and fair incentives, institutional reform to move towards tourism villages, and use of digital technology for HR management and marketing. HR capacity development requires the support of local communities, government, business players and educational institutions. This approach is expected to create digital-based sustainable human resources that support tourism management without damaging marine ecosystems.
ACCOUNTABILITY OF USING BALANCED SCORECARD : PERFORMANCE MEASUREMENT MODEL OF SIDOARJO REGIONAL GENERAL HOSPITAL 2020-2022 Nufaisa; Islami, Diany Natasya Fara
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6315

Abstract

Sidoarjo Regional General Hospital (RSUD) is a Regional Public Service Agency. RSUD Sidoarjo has a responsibility towards public accountability for its performance, especially in terms of financial and service performance. The method used as a performance measurement tool is the balanced scorecard. This study aims to examine the effect of accountability on each of the balanced scorecard perspectives (financial, customer, internal business processes, learning and growth) to measure the performance of Sidoarjo Hospital for the period 2020 – 2022. The results in this study indicate that accountability has a positive effect on financial perspectives, customer perspectives, internal business process perspectives, learning and growth perspectives.This research provides input for the management of Sidoarjo Hospital in order to maximize the resources they have so that they can increase hospital revenue and make budget efficiencies, and carry out socialization of the innovations created.
DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN D-8 COUNTRIES: THE ROLE OF THE CORRUPTION PERCEPTION INDEX (CPI) AS A MODERATING VARIABLE Agitsna Alya Rizqa; Ghafur Wibowo , Muhammad
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6360

Abstract

Foreign investment is pivotal in mitigating inequality within a country, particularly regarding financial aspects. Corruption levels can affect foreign investment flows in multiple ways: it may either deter foreign direct investment by diminishing its appeal to investors or serve as a stimulus to boost such investments. This study enhances understanding by incorporating exports as an independent variable and the Corruption Perception Index (CPI) as a moderating variable, aiming to refine the relationship between economic growth, exchange rates, and exports in influencing foreign direct investment. The research employs panel data regression analysis and moderated regression analysis (MRA) across D-8 countries from 2017 to 2022. Findings indicate that exports significantly impact foreign direct investment, whereas economic growth and exchange rates do not. The CPI moderates the relationship between economic growth and exports on FDI, weakening it, but situs big77 strengthens the link between exchange rates and FDI. Elevated economic growth and high export values imply that investors might resort to bribery to expand their global market share and enhance production processes to satisfy high demand. The stability of the exchange rate mirrors technological advancements, creating a corruption-free virtuous cycle that fosters increased investment.
Analysis of Turnover Intention Factors Using the Partial Least Square Structural Equation Modeling (SEM-PLS) Method Bahari, Annisa Indira Larashati; Nadlifatin, Reny; Anshori, Mohamad Yusak
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6365

Abstract

The decline in human resources and high turnover rates continue to be global issues that organizations need to address. PT XYZ faces a significant challenge with a fixed employee turnover rate of 10% in 2023. Given the high turnover rate, it's crucial to identify the factors influencing employees' intentions to leave in order to mitigate this trend. This study aims to develop a research model that incorporates six variables: job stress, job satisfaction, compensation, commitment, work environment, and turnover intention, which will be tested through 13 hypotheses. Data collection will be conducted through purposive sampling of employees at PT XYZ, using questionnaires distributed via Google Forms and analyzed using the SEM-PLS method. The findings indicate that job satisfaction, compensation, and a supportive work environment significantly negatively impact job stress and turnover intention, while job stress significantly positively affects turnover intention. No significant effects of commitment on job stress or turnover intention were found, suggesting that commitment alone may not be a strong independent factor in managing job stress or retention. The implications of this study suggest that the company should enhance job satisfaction, adjust compensation, and improve the work environment while reducing job stress to decrease turnover intention.
INFLUENCE OF SERVICE QUALITY REGARDING INTENTTIONS TO REVISIT INTENTION THROUGH PATIENT SATISFACTION AT THE WIYUNG HEALTH CENTER, SURABAYA CITY Rahmawati, Nor Endah; Wardoyo, Dewie Tri Wijayati; Kistyanto, Anang
Jurnal Bisnis dan Keuangan Vol 9 No 2 (2024): Business and Finance Journal
Publisher : Universitas Nahdlatul Ulama Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/bfj.v9i2.6519

Abstract

Public health centers as institutions that provide health services need to have human resources capable of providing good quality services to the community. This research aims to analyze the influence of service quality on patient satisfaction at the Wiyung Health Center, to analyze the influence of service quality on the revisit intention, to analyze the influence of patient satisfaction on the revisit intention, and to analyze whether patient satisfaction mediates the relationship between service quality and revisit intention to Wiyung Health Center. The sampling method used in this research was a survey of patients using accidental sampling with a questionnaire. The population in this study were patients who visited the Wiyung Surabaya Health Center, with a total number of patients taken in December 2023 of 6,484 people, and samples were taken from the population using the Slovin formula of 377 people. Data analysis was carried out using descriptive statistics, with tools used in the research using the Structural Equation Model (SEM) method approach with Partial Least Squares (PLS). Based on the results of data analysis, it was obtained: 1) service quality has a positive and significant effect on patient satisfaction; 2) Service quality has a positive and significant effect on revisit intention; 3) Patient satisfaction has a positive and significant effect on revisit intention; 4) Patient satisfaction has a significant effect mediates the relationship between service quality and revisit intention to Wiyung Health Center. Suggestions for the Wiyung Health Center are: 1) needs to promote through social media and brochures for the health equipment it has; 2) needs to conduct an analysis of material needs and plan the purchase of sufficient health equipment; 3) need to create a Customer Care service; 4) needs to carry out excellent service training.