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INDONESIA
Journal of Business and Management
Published by Institut Teknologi Bandung
ISSN : 22523898     EISSN : 22523308     DOI : -
Core Subject : Science,
Decision Sciences, Operations Research & Management
Journal of Business and Management (JBM)is an online journal that is published three times a year. It publishes research papers that give rigorous theoretical and practical insight of business and managament. JBM aims to provide a forum for the dissemination of theory application and research in all areas of business and management, including but are not limited to marketing, business strategy, decision science and decision-making, strategic negotiation, finance, business risk, knowledge management, human capital management, technology management, entrepreneurship, and others relevant subjects. It is intended for researchers, students, business practitioners, and entrepreneurs to publish their ideas and experiences, and share their knowledge on business and management issues.
Arjuna Subject : -
Articles 9 Documents
 1 
Search results for , issue "Vol 3, No 7 (2014)" : 9 Documents clear
Investment Decision Based on Financial Performance Analysis and Market Approach Valuation of Indonesian Construction Sector Makarim, Rahmat Faikar; Noveria, Ana
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

Investment is one of the tools for a company in gaining additional capital. This research will seeks the analysis of company financial performance and valuation as the fundamental tools in making investment decision on Indonesia construction sector, represented by 5 listed construction sector companies, which are PT Adhi Karya (ADHI), PT Wijaya Karya (WIKA), PT Nusa Konstruksi Enjiniring (DGIK), PT Total Bangun Persada (TOTL), and PT Surya Semesta Internusa (SSIA). By analyzing the financial performance, could be obtained the financial health condition of the company that will represent the company future to attract the investors. While the market approach valuation is used to see whether the company is undervalued or overvalued. Due to the development of Indonesia into a developed country, this sector has a high demand of work that make it always able to generate high net sales and profit for the past few years. This makes this sector one of the most secure stock to investing in. Moreover, the under value of their share price will give the investors possibilities of high return and probable increase of stock price on the future.Keywords: Construction sector, financial ratios, valuation, market approach, financial performance.
Optimal Portofolio Analysis with Risk-free Assets using Index-tracking Portfolio Optimization Model Pinasthika, Nasha; Surya, Budhi Arta
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

Constructing optimal portfolio to the desired expected return is one of the main concerns of every investor. This research aimed for constructing and comparing two approaches of stocks portfolio optimization model with an addition of risk-free assets on two different models. The classical Markowitz mean-variance model is further compared with an index-tracking model introduced by Edirisinghe. Additional risk-free asset in the portfolio is intended to give investors an option to lower the risk through diversification. The stocks analyzed for the research are stocks traded in Jakarta Composite Index (JCI) under the period of 2007 – 2012. Results shown that additional risk-free asset lowers the risk significantly for both Markowitz and the index-tracking portfolios, with the index-tracking diversified portfolio has a lower risk than the benchmark index. The index-tracking portfolio also gives a higher beta than the Markowitz MV portfolio. This increase in beta depends on the index variance, in this case JKSE variance, and also the asset covariance matrix. During the back testing, the performance of both Markowitz MV portfolio and index-tracking portfolio do not track the index performance. However, the portfolios which use index-tracking method outperform the portfolios constructed using the Markowitz MV model.Keywords: Investment, Index-tracking, Portfolio Optimization, Mean-variance Optimization
Change management Strategy of Digital Television Broadcasting (DTV) Implementation in TVRI Stasiun Jawa barat using Adkar Model and Positive Psychological Capital Fawzy, Reza Marta; Bangun, Yuni Ros
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

According to the regulation of Ministry of Communication and Informatics Republic of Indonesia Number 32 Year 2013 about the Implementation of Digital Television Broadcasting and Multiplexing Broadcasting through Terrestrial System, all of broadcasting institutions particularly TVRI has to pioneer the implementation of digital television broadcasting (DTV) from analogue TV in Indonesia which must be completed in 2018. The transformation is aimed to create better quality TV in Indonesia which also can encourage new business opportunities. The implementation of DTV is run gradually. The implementation generates change management especially related to budget aspects and human resources. In this research, the data collection was accomplished by distributing questionnaires for 75 employees in TVRI Stasiun Jawa Barat and interviewing Board of Directors and Chief of Information and Technology of TVRI Stasiun Jawa Barat during June until August 2014. This research has purpose to formulate the strategy of change management in TVRI Stasiun Jawa Barat. In compiling change management strategy, researcher will use ADKAR model to approach the process of change plan. Researcher also use Positive Psychological Capital to measure the characteristics of human resources needed for achieving DTV program. In the final of the research, the researcher proposed several recommendations such as strategic communication implementation and strategy of encouraging employees’ skills to support DTV program in accordance the change management in TVRI Stasiun Jawa Barat can be done effectively. Keywords: Change Management, ADKAR Model, Positive Psychological Capital, Digital Television Broadcasting
Determinants of Capital Adequacy Ratio (CAR) 19 Commercial Banks in Indonesia Based on Risk Based Bank Rating Nuviyanti, Nuviyanti; Anggono, Achmad Herlanto
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

Bank Indonesia issued some considerations for commercial banks in order to create healthy banking system and have ability to compete with worldwide should be preparing Minimum Capital Adequacy Ratio that meets with the international standards. Capital Adequacy ratio means amount of capital to ensure that banks can handle risk exposures. Implementing the Minimum Capital Adequacy Ratio must be adjusted to risk profile for absorb the potential losses on risk exposure as well as to fulfilling the minimum capital requirement. The objective of this research is to deteminants of capital adequacy ratio based on risk based bank rating 19 commercial bank in Indonesia.The research involved the use of Multiple Regression Linier based on Ordinary Least Square estimation technique to determine the affect of the independent variables - Good Corporate Governance measured by operating expense to operating income ratio and net interest margin, Risk Profile measured by non performing loan ratio and loan to deposit ratio, Earning measured by return on asset ratio and return on equity – Secondary data were obtained from condensed financial statement conventional bank quarterly that derived from Bank Indonesia covering 2008 to 2013. Using significant level of 5%. The result analysis obatained from coefficient corelation (), T test and F test. The research found  that operating expense to operating income ratio, loan to deposit ratio, return on equity ratio have negative significant affect with capital adequacy ratio in the other hand non performing loan ratio and return on asset ratio have positive influence with capital adequacy ratio. While variables that most affecting with dependent  variable is return on asset ratio that has coefficient value of  2.546153. Keywords : Capital Adequacy Ratio, Risk Based Bank Rating, Commercial Bank in Indonesia
Social Responsibility Satoe Indonesia in Order to Improve the Quality of Education in Papakmanggu Village Luthfi, Muhammad; Rudito, Bambang
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

Researchers do an analysis of the ability of a child who has graduated from PAUD Program  at Rumah Pintar Papakmanggu, in Kampung Papakmanggu, Desa Cibodas, Kecamatan Pasirjambu, Kabupaten Bandung to get picture in detail how conditions PAUD graduate who has entered the primary school level. Researchers will conduct interviews to teachers SDN Papakmanggu, where all the PAUD graduates school there. The result from this study is, PAUD in Rumah Pintar Papakmanggu. Research that has been carried out, explaining that PAUD programs have provided positive for a change to the children who attend PAUD programs for free, this is evidenced by the results of research conducted on teacher elementary in Papakmanggu on the ability of children who attend PAUD states that children who attend PAUD has advantages in terms of cognitive aspects such as having the ability to read, write, and count is not owned by a child who does not follow the PAUD.Keyword: PAUD, Social Responsibilty, Rumah Pintar, Satoe Indonesia, and Early Childhood
Analysis on PT Semen Indonesia Organizational Culture Based on Organizational Cultural Assessment Instrument (OCAI) Zulfikar, Rachmat Calief; Gustomo, Aurik
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

Up until now, PT. Semen Indonesia has been dominating the cement industry competition in Indonesia. In the other sides, the South East Asia region will encounter a new phenomenon in 2015 which is ASEAN Economic Community (AEC) with the mission of making ASEAN region as a region with free movement of goods, services, investment, skilled labor, and a free flow of capital, that have the program of improving the implementation of ASEAN Free Trade Area (AFTA) which will eliminate any cost of tariff for goods trading from any ASEAN region countries. That means the competition that PT. Semen Indonesia will encounter is not only against other Indonesian private companies, but also with other ASEAN countries’ companies. This research’s objectives is to assess the current condition of PT. Semen Indonesia’s organizational culture and also the preferred organizational culture by PT. Semen Indonesia’s employees by using Organizational Culture Assessment Instrument (OCAI. The result shows that the current organizational culture in PT. Semen Indonesia is balanced without any tendency to any category of organizational cultural framework. While for the preferred condition by PT. Semen Indonesia’s employees, the culture tends to Entrepreneurial and Clan Culture.Keywords: Semen Indonesia, Organizational Culture, OCAI, AEC, AFTA
Analysis of Corporate Leadership Culture Internalization in Groupe Danone Indonesia Head Office Syirodj, Muhammad; Gustomo, Aurik
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

In this globalization era, business competition will be very tight. By 2015, there will be the AEC (ASEAN Economic Community). ASEAN will become a single market and single production base where there is flow of goods, services, investment and skilled labor is free, as well as freer capital flows among ASEAN countries. Organization with strong culture is very helpful to enhance the performance of the employees that leads to the goal achievement and increases the overall performance of the organization. Danone is one of the world’s biggest and most successful food companies. Groupe Danone has leadership culture that must be implemented by all employees. This culture should go along through the behavior of employees. Employee performance affected by the corporate culture, that is why companies need to ensure that the corporate culture embraced by every employee. This research’s objective is to know Groupe Danone Indonesia corporate leadership culture condition and design also to analyze the existence condition of corporate leadership culture. Groupe Danone Indonesia has four dimension of corporate leadership culture; Committed, Open, Doer, and Empowered (CODE). From the research by questionnaire, empowered dimension is in very good category. Besides, committed, open, and doer are in acceptable category but still need to be improved.Keywords: Groupe Danone Indonesia, Organizational Culture, Corporate Culture, AEC.
Financial Performance Assessment of PT Bumi Resources Tbk in Comparison with other Coal Mining Companies and Estimating the Company Value Farizan, Radhitya Avila; Soekarno, Subiakto
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

In the latter half of 2009 until the beginning of 2011, Indonesian coal mining industry experiences an escalation as the increase of global coal mining prices. However from the year 2011 to 2013, coal price is declining. This condition caused by the oversupply of global coal productions. PT Bumi Resources Tbk (BUMI), one of the local mining companies has experienced a downward in the stock price and uncertainties regarding its feature prospect in the long run. This caused by the coal price that significantly decline. From the explanation above, author would like to analyze the company performance and make a comparison with the other local coal mining companies using several methods which are trend analysis, cross-section analysis, common-size financial statement analysis, and DuPont system of analysis. The benchmarking companies are the listed coal mining companies in Indonesia Stock Exchange. From the analysis that has been conducted, the financial performance of PT Bumi Resources Tbk is below the other benchmarking companies caused by several financial issues. Therefore, PT Bumi Resources require improvements to its financial performance to compete with the other coal mining companies. Based on income approach valuation, it indicates that PT Bumi Resources has experienced undervalue. It indicates that PT Bumi Resources Tbk has an opportunity to increase its value. Suggestions that can be given to PT Bumi Resources Tbk are effectively manage the level of debt, to be more effective in using its capital, and consider the cost and operating efficiency in order to improve the financial performance and compete better with the other coal mining companies.Key words: BUMI, financial performance, ratio, valuation
Lebaran Rituals and Consumption Pattern: An Exploratory Study in South jakarta Assilmi, Najwa; Fachira, Ira
Journal of Business and Management Vol 3, No 7 (2014)
Publisher : Journal of Business and Management

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Abstract

Purpose- Lebaran is a religious celebration for Muslims all around the world. Each year in Indonesia, which is the home of the biggest Muslims in the world, Lebaran has become a major phenomenon that is affecting the Indonesia’s retail and economic condition. The purpose of this research is to examine how Lebaran rituals affect consumers’ consumption as shown in feasting ritual as part of Lebaran. This exploratory study examines three different groups: people who are hosting the Lebaran feast, people who visit, and people who do both. Design/Methodology/Approach- A quantitative research was done with distributing questionnaire to a total of 120 samples of married South Jakarta female with children. A descriptive analysis was conducted to compare the different result of the three different groups. Findings- The majority of all three groups spent 25% more on Lebaran month rather than their regular month. The host & guest group seems to spent more spendings on main feast than those from the host only the guest only group. For main feast, most decision maker are done by the mother alone. Most respondents from all three group also choose to shop main feast at Supermarket rather than traditional market. The shopping information was get from their own peers rather than traditional media. The variance of product is the most important attributes to a store according to all three groups. For small feast, the majority of customers choose to purchase their food rather than made it themselves. The spendings from those from the host group and host & guest group is more than those who are guest only. The majority from all three groups purcOhase their food through their friends rather than special order or the supermarket. The shopping information was also mostly from their peers. The shopping attributes priority was similar to the main feast, which is the variation of product. This result shows that the customer’s social circle become an highly influential source for shopping for Lebaran. Research Limitations- This research is intended to explore the behavior of consumers and their consumption prior to Lebaran day. Due to the limitation of time and resource the sample taken might not represent the whole Indonesian behavior. The generality of the findings are limited to a certain area in South Jakarta. Practical Implications- Business owner can take benefit by starting a more personal marketing mix starting at the mother’s social circle. The availability of a product also needs to become a priority for customers on Lebaran. Originality/Value- This study is applied in Indonesia which Islam is the majority religion but also a country who hold many traditional rituals. The topic is the Lebaran phenomenon which is  a fuse between traditional culture and religious activities to find out the consumption tendencies of different type of Indonesian customer constitute the originality of this study.Keywords: marketing

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