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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 104 Documents
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The Effect of Capital Structure, Dividend Policy and Cash Holding on Firm Value Anandita, Diyah; Septiani, Dwi
Business Management Analysis Journal (BMAJ) Vol 6, No 1 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i1.9611

Abstract

This study examines the effect of Capital structure, Dividend Policy and Cash Holding on Firm Value in food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) in 2017-2021. This type of research is quantitative research and sampling methods using purposive sampling. The population in this study was 66 companies from food and beverage sub-sector companies listed on the Indonesia Stock Exchange. The sample of this study was 17 companies with a total of 85 observations. The study's results partially show that the Capital Structure does not affect the Firm Value, the dividend policy does not affect the Firm Value, and the Cash Holding variable positively and significantly affects the Firm Value. The study's results simultaneously showed that the Capital Structure, Dividend Policy and Cash Holding significantly affected the Firm's Value.
Board Capital, CEO Power and Investment Efficiency of Firms listed in Nairobi Securities Exchange in Kenya John Kipngetich Tarus
Business Management Analysis Journal (BMAJ) Vol 6, No 1 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i1.9648

Abstract

The paper's main aim was to determine the moderating effect of chief executive officer (CEO) power on the relationship between board capital and investment efficiency of listed firms in the Nairobi Securities Exchange. The study adopted a longitudinal, and 10 years of panel data was obtained using documentary analysis from audited financial statements of 33 listed firms consistently trading in the Nairobi Securities Exchange between 2012 and 2021. The hierarchical Fixed model was used to test the moderating effect. Results revealed that board financial expertise and interlock positively affected the investment efficiency of listed firms. The effect of board interlock on investment efficiency is more profound for firms with powerful CEO. However, CEO power did not moderate the relationship between the board's financial expertise on the investment efficiency of listed firms. The study was limited to firms listed in the Nairobi securities exchange. However, future research should be replicated beyond East Africa. Again, this study utilizes CEO power as a moderator, and other studies should consider other variables.
The Influence of Financial Technology, Financial Literacy and Financial Efficacy on Student’s Interest in Investing Diyah Santi Hariyani; Melania Rizqi Ayuningdiah; Arifiansyah Saputra
Business Management Analysis Journal (BMAJ) Vol 6, No 1 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i1.8572

Abstract

This study aims to analyze the effect of financial technology, financial literacy and financial efficacy on students' interest in investing in the capital market. The data source used is primary data by distributing questionnaires. The sampling technique used is purposive sampling with the criteria of active students who have received capital market training. This research is a quantitative study using SPSS for Windows ver 25.0 as a tool to test multiple linear regression analysis. The results of this study indicate that only financial technology and financial efficacy significantly affect students' interest in investing, and financial literacy has no significant effect. It is hoped that further research can develop other factors influencing investment intentions.
Influence of Audit Committee, Auditor Industry Specialization, and Audit Tenure on Audit Report Lag Larasati Farumi; Tertiarto Wahyudi; Nur Khamisah
Business Management Analysis Journal (BMAJ) Vol 6, No 1 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i1.8687

Abstract

This study examines the effect of audit committees, industry specialization auditors, and audit tenure on audit report lag with debt to equity ratio and KAP reputation as control variables. The type of data used in this study is secondary data in the form of the company's annual report. The population in this study are companies listed on the IDX in the 2018-2020 LQ45 index. The sampling method used was purposive sampling and obtained as many as 33 companies. The study results stated that the audit committee had a significant negative effect on audit report lag, industry specialization auditors had a significant positive effect on audit report lag, and audit tenure had no significant negative effect on audit report lag. Limitations in this study are the limitations of the sample and the method used. Future research is expected to be able to examine audit report lag from other perspectives, for example, in terms of auditor or client behavior.
Quo Vadis Brand Love? Role of Cognition-Affection-Behavior Model for Local Coffee Shops in Indonesia Dea Farahdiba
Business Management Analysis Journal (BMAJ) Vol 6, No 1 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i1.9741

Abstract

This study aims to identify the structural relationship between image, experience, love, trust, and brand loyalty for branded local coffee shops using the cognitive-affective-behavior (C-AB) model. One hundred thirty-five respondents participated in this study, and data analysis was performed using the SmartPLS statistical tool with the PLS-SEM method. It was found that brand image and experience had a significantly positive relationship with brand love and trust. Brand love and brand trust also have a significant positive relationship with brand loyalty, according to the assessment of Indonesian people on their favorite local coffee shop brands. This study contributes to the literature that the C-A-B model can explain the factors that form brand loyalty in the local coffee shop industry. In practice, brand love and brand trust owned by local communities form brand loyalty relationships in local products. This study also shows the mediating effect of brand love and brand trust for branded local coffee shops. Brand Love indirectly mediates the relationship between Brand Image and Brand Loyalty, but Brand Trust does not directly mediate the relationship between Brand Experience and Brand Loyalty. This study's main limitation is using the brand love mark only for brand love. The dimension of the brand love mark as Brand Respect can be included in future research.
The Moderating Role of Perceived Reward on Leadership Style and Policy Involvement Effects on Job Performance among Pharmaceutical Managers Theophilus Ehidiamen Oamen
Business Management Analysis Journal (BMAJ) Vol 6, No 1 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i1.9878

Abstract

Management and behavioral sciences literature has established a direct link between rewards and employee performance. However, limited research exists on the role of perceived reward on the effects of policy strategy involvement and leadership style on the performance of pharmaceutical managers. Intuitively, perceived rewards may have a potential impact on the behavior and attitudes of pharmaceutical managers toward work, and invariably job performance. Based on the incentive theory of motivation framework, the study explored the causal effect of leadership style, and policy involvement on job performance, and the moderating effect of perceived reward among pharmaceutical managers. Comparative differences in perception between operational and strategic managers were evaluated. A cross-sectional web-based questionnaire survey of a random stratified sample of managers (103 strategic and 138 operational) engaged in pharmaceutical marketing. Structural equation modeling was used to evaluate the developed model. Construct validity and fit measures of the hypothetical model were adequate. Policy strategy involvement and leadership style had a positive and significant influence on job performance. Moderation analysis showed that low perceived reward significantly weakened the impact of policy engagement on performance. Integrating improved managers’ involvement with policy and strategy development with commensurate rewards is an incentive strategy to improve managers’ job performance. The study was restricted to only two major managerial groups. More job-related behavioral constructs are required to improve the generalizability of findings, which is suggested for further research.
Federal Funds Rate Spillover Effect On Emerging Market Banking Liquidity And Capital – Evidence From Indonesia Ridho, Wahyu Fahrul
Business Management Analysis Journal (BMAJ) Vol 6, No 2 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i2.10162

Abstract

This paper examines the spillover effect of the fed fund rate (FFR) on emerging banking liquidity and capital in emerging markets, especially in Indonesia, using the Structural Equation Model (SEM). Data were collected from the Indonesia Central Bank and Financial Services Authority. Our model reveals a significant indirect negative relationship between FFR, banking liquidity, and capital. This relationship was examined both directly and indirectly using the model. While the FFR influence was robust, the impact on liquidity and capital was translated through the local bank rates. It is found that rising interest rates would still result in tighter liquidity to some extent. FFR also impacts capital decisions because the rising interest rate might incentivize managers to borrow from a lower market environment. Thus, observing the indirect relationship, the impact of the FFR depends on the local central bank monetary policy transmission to mitigate the spillover effect resulting from developed economy monetary policy.
The Effect of Foreign Direct Investment (FDI), Investment Portfolio, Exchange Rate, and Inflation on Current Account Balance (CAB) With Corruption Perception Index (CPI) As A Moderation Variable For The Period 1995-2022 In ASEAN-6 Wairooy, Fatimah Az-zahra; Endraswati, Hikmah
Business Management Analysis Journal (BMAJ) Vol 6, No 2 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i2.10846

Abstract

This study re-examines the effect of Foreign Direct Investment (FDI), portfolio investment, exchange rates, and inflation on the Current Account Balance (CAB), with the Corruption Perception Index (CPI) as a moderating variable for the 1995–2022 period in ASEAN-6. Hypothesis testing using MRA and panel data regression. This study took secondary data from The World Bank and Transparency International (TI). It used 168 samples obtained from six ASEAN countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. The results showed that Foreign Direct Investment (FDI) had a significant negative effect on Current Account Balance (CAB), portfolio investment had a significant positive effect on Current Account Balance (CAB), and exchange rates and inflation had no effect on Current Account Balance (CAB). In addition, the moderating variable used, namely the Corruption Perception Index (CPI), is proven to be able to moderate the four independent variables with a significant negative effect. This research is limited to ASEAN-6 countries and only uses CPI as a moderating variable. Suggestions for further research should be replicated outside ASEAN-6 and consider other variables.
Job Relevant Information on Government Managerial Performance: The Role of Affective Organizational Commitment Febrianti, Andin Vivian; Rohma, Frida Fanani
Business Management Analysis Journal (BMAJ) Vol 6, No 2 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i2.10645

Abstract

This study aims to investigate the moderating effect of affective organizational commitment on job-relevant information (JRI) on government managerial performance. The inconsistent results regarding the impact of JRI on government managerial performance lead to differences in perceptions of JRI functions. The inconsistency of the research results is possible due to phenomena that have yet to be caught in previous studies. Based on the goal-setting theory, this study captured the construct of affective organizational commitment. The research used a quantitative method using a survey of 56 Regional Government Organizations (RGO) with 180 respondents in Pasuruan Regency, East Java, Indonesia. The sampling method used judgment sampling, which obtained as many as 180 respondents. Testing the research hypothesis was carried out using SmartPLS 4.0. The study results show that job-relevant information encourages the government managerial performance of regional apparatus. The existence of affective organizational commitment impacts improving government managerial performance. Moreover, the findings of this study indicate that affective organizational commitment can strengthen JRI's influence on the government managerial performance of the local government apparatus. This research shows that the affective organizational commitment possessed by officials can encourage the influence of job-relevant information to improve the managerial performance of local government officials
Comparative Health Analysis Of Insurance Companies Owned By BUMN During The Covid-19 Pandemic In Indonesia Shoviana, Evi; Rohmah, Farida
Business Management Analysis Journal (BMAJ) Vol 6, No 2 (2023): Business Management Analysis Journal (BMAJ)
Publisher : Universitas Muria Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24176/bmaj.v6i2.11049

Abstract

This research aims to analyze and compare the financial health of government-managed Sharia insurance companies, both Sharia and non-sharia, which are included in BUMN during the COVID-19 pandemic. The data collection method in this research used a sample of ten insurance companies. The sampling technique in this research used purposive sampling. The data analysis method in the study uses paired difference test analysis (paired sample t-test). This research shows that ratios based on liquidity, ROA, ROE, RBC, Sharia, and non-Sharia insurance show healthy finances but not solvency ratios. Then, Sharia insurance companies and non-sharia state-owned companies have the same level of financial health. The limitations of this research are that several insurance companies need to have complete data used in research for two years because they look at financial health during the COVID-19 pandemic, the use of financial ratios in assessing the health of insurance companies still does not reflect the overall financial health condition, and the research sample is limited. It is hoped that future research can add operational and administrative aspects using quantitative and qualitative approaches, which have never been done so far, so the results will be better.

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