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Business Management Analysis Journal (BMAJ)
Published by Universitas Muria Kudus
ISSN : 26230690     EISSN : 26553813     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Business Management Analysis Journal (BMAJ) with E-ISSN 2655-3813 and P-ISSN 2623-0690 is a journal published by Management Department, the Economics and Business Faculty, Universitas Muria Kudus. BMAJ publishes twice in a year (on April and October) consisting 6 articles and accepting articles in the fields of financial, human resources, marketing, operation, strategic with the standard of research method for publication.
Arjuna Subject : -
Articles 110 Documents
 7   8   9   10   11 
FACTORS AFFECT FINANCIAL DISTRESS IN CONVENTIONAL BANKING LISTED ON THE INDONESIAN STOCK EXCHANGE Muchtar, Susy; Sari, Wahyuni Rusliyana; Elgi, Afrizal; Martinistiyas, Catur Rahayu; Elgammal, Mohammed
Business Management Analysis Journal (BMAJ) Vol 8, No 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.15199

Abstract

COVID-19 and the Russian-Ukrainian conflict caused global inflationary pressure. This condition enables banks worldwide to implement a policy of increasing interest rates, which can lead to high inflation. High inflation can cause financial distress in various sectors, including banking, which is a crucial sector in the economy. This research aims to identify the factors that contribute to financial distress. The sample used in the study consisted of 35 conventional banks listed on the Indonesia Stock Exchange from 2018 to 2022, and a logistic regression analysis was employed. The results of discriminant analysis in this study indicate that banks with a high solvency ratio may face a higher probability of financial distress. In contrast, higher profitability ratios decrease the risk of financial distress. Our results can encourage regulators and policymakers to adopt policies that maintain capital adequacy and increase banking profits, thereby avoiding financial distress, especially during economic downturns. It is hoped that the results of this research will serve as a reference for conventional banks to prevent financial distress by optimizing capital management and enhancing bank profitability.
PRODUCT UNIQUENESS VALUE ADVANTAGE TO IMPROVE MARKETING PERFORMANCE Khasanah, Imroatul; Astuti, Sri Rahayu Tri
Business Management Analysis Journal (BMAJ) Vol 8, No 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.15113

Abstract

This study investigates how product uniqueness value advantage mediates the relationship between product innovation and marketing performance. Data were gathered from 342 food-producing SMEs in Central Java, Indonesia. The owners and managers of food product SMEs in Central Java are the respondents of this study's survey. Data collection was conducted over a three-month period using structured questionnaires distributed directly and supplemented by interviews. The research model includes five assumptions that were investigated using Structural Equation Modelling (SEM). Product innovation, product uniqueness value advantage, long-term competitive advantage, and marketing performance were the variables studied. The findings suggest that all hypotheses have a favorable and significant effect. Among these, product uniqueness value advantage has the greatest influence on marketing performance. Several recommendations are suggested to utilize this advantage and thus boost marketing performance: SMEs should: actively and quickly create new product variations for the market; be creative in creating food products that showcase unique qualities that suit consumer tastes; (3) strive to be leaders in launching new product concepts; and (4) be flexible and responsive to changing market trends, especially when it comes to adjusting to the food industry's explosive growth. The findings of this study have several limitations that must be addressed in future research. The impact of sustainable competitive advantage on marketing success is minimal compared to the influence of other variables. To better understand its impact on marketing performance, future research could examine increasing the number of indicators for the sustainable competitive advantage variable to provide a more comprehensive measure of this concept. 
PERSON-JOB-AND ORGANIZATION FIT DURING THE COVID-19 PANDEMIC AND THE IMPACT ON EMPLOYEE SATISFACTION AND PERFORMANCE Widyawati, Sapta Rini; Widnyana, I Wayan; Da Costa, Carla Alexandra De Jesus
Business Management Analysis Journal (BMAJ) Vol 8, No 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.14635

Abstract

This paper discusses person-job-fit (PJF) and person-organization-fit (POF) during the Covid-19 pandemic, and their impact on employee satisfaction and performance. The data was obtained from the distribution of electronic questionnaires to employees working in Indonesia. Data analysis using path analysis model. The results show that PJF and POF during the Covid-19 pandemic were quite good, even though the environment had forced them to work with a new system, namely work from home. In addition, PJF proved to be positively and significantly associated with job satisfaction, but not significant with performance. While the POF proved to be positively and significantly related to satisfaction and performance. Thus, this study failed to prove a mediating effect of satisfaction on the relationship between PJF and POF with performance. When compared between the two, POF has a greater role than PJF in explaining job satisfaction.
Analysis of Visitors' Multisensory Experiences Towards Mental Health Benefits in Outdoor Destinations Roostika, Ratna; Kusumawati, Rizqi Adhyka; Mumpuni, Punik; Kuntari, Titik
Business Management Analysis Journal (BMAJ) Vol 8, No 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.14136

Abstract

This study explores the increasing trend of traveling outdoors after the COVID-19 pandemic. There is still limited research in Indonesia exploring the role of multisensory experiences on tourists’ mental health benefits. Two main theories are used “the Attention Restorative Theory (ATR) and the Theory of Grounded Cognition, as the basis for developing the research model. This study aims to analyze the impact of the multisensory experience of outdoor tourism on place attachment, the perception of environmental restoration, and the perception of mental health benefits. This study examined 278 respondents who visited city parks and outdoor tourist sites in Yogyakarta and its surroundings. Using quantitative approaches and PLS statistical tools, it was found that the influence of multisensory experiences affects place attachment, perception of environmental restoration, and mental health benefits. The perception of environmental restoration also affects the mental health benefits. Only place attachment does not affect the mental health benefits of visiting outdoor destinations.  The implication for marketing strategies is that tourism should be designed to provide mental health benefits or balance between physical and mental health.
Analysis of Visitors' Multisensory Experiences Towards Mental Health Benefits in Outdoor Destinations Roostika, Ratna; Kusumawati, Rizqi Adhyka; Mumpuni, Punik; Kuntari, Titik
Business Management Analysis Journal (BMAJ) Vol. 8 No. 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.14136

Abstract

This study explores the increasing trend of traveling outdoors after the COVID-19 pandemic. There is still limited research in Indonesia exploring the role of multisensory experiences on tourists’ mental health benefits. Two main theories are used “the Attention Restorative Theory (ATR) and the Theory of Grounded Cognition, as the basis for developing the research model. This study aims to analyze the impact of the multisensory experience of outdoor tourism on place attachment, the perception of environmental restoration, and the perception of mental health benefits. This study examined 278 respondents who visited city parks and outdoor tourist sites in Yogyakarta and its surroundings. Using quantitative approaches and PLS statistical tools, it was found that the influence of multisensory experiences affects place attachment, perception of environmental restoration, and mental health benefits. The perception of environmental restoration also affects the mental health benefits. Only place attachment does not affect the mental health benefits of visiting outdoor destinations.  The implication for marketing strategies is that tourism should be designed to provide mental health benefits or balance between physical and mental health.
Person-Job-And Organization Fit During the Covid-19 Pandemic and The Impact on Employee Satisfaction And Performance Widyawati, Sapta Rini; Widnyana, I Wayan; Da Costa, Carla Alexandra De Jesus
Business Management Analysis Journal (BMAJ) Vol. 8 No. 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.14635

Abstract

This paper discusses person-job-fit (PJF) and person-organization-fit (POF) during the Covid-19 pandemic, and their impact on employee satisfaction and performance. The data was obtained from the distribution of electronic questionnaires to employees working in Indonesia. Data analysis using path analysis model. The results show that PJF and POF during the Covid-19 pandemic were quite good, even though the environment had forced them to work with a new system, namely work from home. In addition, PJF proved to be positively and significantly associated with job satisfaction, but not significant with performance. While the POF proved to be positively and significantly related to satisfaction and performance. Thus, this study failed to prove a mediating effect of satisfaction on the relationship between PJF and POF with performance. When compared between the two, POF has a greater role than PJF in explaining job satisfaction.
Product Uniqueness Value Advantage to Improve Marketing Performance Khasanah, Imroatul; Astuti, Sri Rahayu Tri
Business Management Analysis Journal (BMAJ) Vol. 8 No. 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.15113

Abstract

This study investigates how product uniqueness value advantage mediates the relationship between product innovation and marketing performance. Data were gathered from 342 food-producing SMEs in Central Java, Indonesia. The owners and managers of food product SMEs in Central Java are the respondents of this study's survey. Data collection was conducted over a three-month period using structured questionnaires distributed directly and supplemented by interviews. The research model includes five assumptions that were investigated using Structural Equation Modelling (SEM). Product innovation, product uniqueness value advantage, long-term competitive advantage, and marketing performance were the variables studied. The findings suggest that all hypotheses have a favorable and significant effect. Among these, product uniqueness value advantage has the greatest influence on marketing performance. Several recommendations are suggested to utilize this advantage and thus boost marketing performance: SMEs should: actively and quickly create new product variations for the market; be creative in creating food products that showcase unique qualities that suit consumer tastes; (3) strive to be leaders in launching new product concepts; and (4) be flexible and responsive to changing market trends, especially when it comes to adjusting to the food industry's explosive growth. The findings of this study have several limitations that must be addressed in future research. The impact of sustainable competitive advantage on marketing success is minimal compared to the influence of other variables. To better understand its impact on marketing performance, future research could examine increasing the number of indicators for the sustainable competitive advantage variable to provide a more comprehensive measure of this concept. 
Factors Affect Financial Distress in Conventional Banking Listed on the Indonesian Stock Exchange Muchtar, Susy; Sari, Wahyuni Rusliyana; Elgi, Afrizal; Martinistiyas, Catur Rahayu; Elgammal, Mohammed
Business Management Analysis Journal (BMAJ) Vol. 8 No. 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.15199

Abstract

COVID-19 and the Russian-Ukrainian conflict caused global inflationary pressure. This condition enables banks worldwide to implement a policy of increasing interest rates, which can lead to high inflation. High inflation can cause financial distress in various sectors, including banking, which is a crucial sector in the economy. This research aims to identify the factors that contribute to financial distress. The sample used in the study consisted of 35 conventional banks listed on the Indonesia Stock Exchange from 2018 to 2022, and a logistic regression analysis was employed. The results of discriminant analysis in this study indicate that banks with a high solvency ratio may face a higher probability of financial distress. In contrast, higher profitability ratios decrease the risk of financial distress. Our results can encourage regulators and policymakers to adopt policies that maintain capital adequacy and increase banking profits, thereby avoiding financial distress, especially during economic downturns. It is hoped that the results of this research will serve as a reference for conventional banks to prevent financial distress by optimizing capital management and enhancing bank profitability.
Global Commodity Price Spillovers and Domestic Demand Dynamics in Indonesia: An Empirical Analysis Martaliah, Nurfitri; Harkeni, Asti; Trismi A, Linda; Hardianti, Veni; Dewi, Fitchi Utama; Afdloli, Muhammad Ikhwan
Business Management Analysis Journal (BMAJ) Vol. 8 No. 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Global commodity prices have experienced high volatility over the past decade due to structural shifts in global demand, geopolitical tensions, the COVID-19 pandemic, and the ongoing energy transition. As an open economy, Indonesia is highly vulnerable to external shocks, which can influence domestic demand through price and exchange rate transmission mechanisms. This study aims to analyze the spillover effects of global commodity price fluctuations on Indonesia’s domestic demand, focusing on three key commodities—crude oil, coal, and cinnamon—over the 2015–2024 period.The research employs a Vector Error Correction Model (VECM) using annual time series data. This model allows for simultaneous analysis of short- and long-run relationships between global prices, domestic prices, exchange rates, per capita income, and domestic demand. Stationarity was tested using the Augmented Dickey–Fuller (ADF) test, cointegration through the Johansen method, and dynamic analysis using Impulse Response Function (IRF) and Forecast Error Variance Decomposition (FEVD).The results reveal a significant long-run relationship between global commodity prices and domestic demand in Indonesia. In the short run, increases in global and domestic prices significantly reduce domestic demand, whereas per capita income has a positive effect. The IRF analysis indicates that global price shocks produce the strongest negative response on domestic demand in periods 2–3 before gradually stabilizing. FEVD results show that global prices contribute the largest share (38.2%) to long-term variations in domestic demand.These findings confirm that global price volatility plays a crucial role in shaping Indonesia’s domestic demand dynamics. Therefore, policies aimed at stabilizing domestic energy prices, strengthening exchange rate management, diversifying strategic commodities, and boosting household income are essential to maintain purchasing power and enhance economic resilience.
Understanding Purchase Intention Toward Augmented Reality Through The Perspective of The Technology Acceptance Model (TAM) Theory: A Study on Indonesian Gen Z Muna, Nilna; Chasyim, Melati Ayu; Retnasamy, Vithyacharan
Business Management Analysis Journal (BMAJ) Vol. 8 No. 2 (2025): Business Managament Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v8i2.15936

Abstract

The purpose of this study is to examine how Augmented Reality Adoption (ARA) affects Purchase Intention (PI) among Indonesian Generation Z consumers, using Positive Attitude (PA) as a mediating variable. The study uses the Technology Acceptance Model (TAM) to explain how users' purchasing decisions are influenced by their perceptions of AR's usefulness, enjoyment, and interactivity. 270 respondents were given online questionnaires as part of a quantitative approach, and Partial Least Squares Structural Equation Modeling (PLS-SEM) was utilized to evaluate the data. The findings demonstrate that PA has a considerable beneficial impact on PI and that ARA considerably affects both PA and PI. Furthermore, the association between ARA and PI is partially mediated by PA, suggesting that customers are more prepared to make purchases when they are feeling well. However, this study only includes respondents from Generation Z and excludes other mediating factors like perceived ease of use or consumer trust. To better understand AR-based consumer behavior, future research is advised to use a mixed-method approach and incorporate more variables.

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