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Chrisanty V. Layman
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Milestone: Journal of Strategic Management
Published by Universitas Pelita Harapan
ISSN : -     EISSN : 27753565     DOI : -
Core Subject : Social,
Social Sciences
Milestone: Journal of Strategic Management aims to foster leading scientific research on international strategic business management. It provides a central and independent forum for the critical evaluation and dissemination of research and to publish the highest quality research with evaluation, evidence and conclusions that are relevant to strategic management while engaging strategic management scholars and practitioners. Milestone: Journal of Strategic Management places a strong emphasis on both knowledge and practice, facilitating the exchange of ideas and discoveries on research issues. The journal is intended to give both an academic and practical focus, reflecting the trends, interests in on going strategic initiatives, phenomenon related to business strategic management. This journal topic covers scientific publications related to business, strategic management, organizational behaviour, and international management.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Strategi dan Menejemen
Articles 5 Documents
 1 
Search results for , issue "Vol 5. No. 2 September 2025" : 5 Documents clear
Social and Emotional Drivers of Engagement with AI Virtual Influencers: A Qualitative Study in Indonesia Kembau, Agung Stefanus; Bernanda, Devi Yurisca; Kumaat, Arief Perdana; Lendo, Fresi Breatrix; Doa, Fidelia Novena
Milestone: Journal of Strategic Management Vol 5. No. 2 September 2025
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/ms.v5i2.9852

Abstract

The growing presence of AI-powered virtual influencers (VIs) on social media has introduced new dynamics in digital marketing, yet little is known about how consumers in emerging markets perceive and respond to these synthetic personas. This study investigates the factors that shape consumer acceptance of virtual influencers in Indonesia, focusing on the interrelationship between social influence, performance expectancy, emotional resonance, and willingness to engage. Employing a qualitative research design, 25 in-depth semi-structured interviews with Indonesian consumers aged 18–35 were conducted, reaching thematic saturation. Thematic analysis was conducted using NVivo 14, integrating both deductive and inductive coding strategies. Findings reveal four major themes and twelve subthemes: (1) social influence functions as a cultural endorsement mechanism, shaping normative beliefs; (2) performance expectancy is driven by informational credibility, entertainment value, and behavioral consistency; (3) emotional resonance—expressed through perceived authenticity and psychological comfort—is central to consumer attachment; and (4) willingness to use VIs is closely linked to digital identity projection and contextual social legitimacy. A clear majority of participants (around four out of five) described positive evaluations of VIs, while a minority expressed skepticism and emotional discomfort, highlighting ethical and psychological boundaries in AI–human interaction. The study contributes to a deeper understanding of how social and emotional mechanisms converge in shaping digital consumer behavior, offering practical insights for marketers and advancing theory on technology acceptance in culturally nuanced settings.
The Impact of Inflation and Interest Rates on Economic Growth in Southeast Asia: A Panel Data Analysis Samuel Eka Nathaniel; Bella Christine Princess Wantah; Zefanya Maureen Nathania; Michelle Angelique Nataputra; Ferdinand, Ferry Vincenttius
Milestone: Journal of Strategic Management Vol 5. No. 2 September 2025
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/ms.v5i2.9857

Abstract

Economic growth in Southeast Asia is influenced by a variety of macroeconomic variables, with inflation and interest rates being two of the most crucial. This study aims to examine the impact of inflation and interest rates on the economic growth (measured by GDP) of ten Southeast Asian countries from 2007 to 2023. Using a panel data regression approach, the analysis applies several econometric models including Pooled OLS, Fixed Effects Model, Random Effects Model, and spatial econometric models (Spatial Autoregressive Model/SAR and Spatial Error Model/SEM) to determine the most suitable model for the data. The results show that interest rates have a significant negative effect on GDP growth, suggesting that higher interest rates tend to reduce economic activity in the region. Inflation, while showing a weaker relationship, also negatively affects GDP in most models. Spatial analysis further reveals the presence of spatial dependence among Southeast Asia countries, indicating that the economic performance of one country is not isolated but affected by its neighbors. Among the models tested, the Spatial Error Model (SEM) is found to be the best fit based on statistical criteria, highlighting the importance of unobserved regional factors and spatial spillover effects. Policy implications include the need for coordinated regional monetary policies, maintaining inflation within manageable limits, and enhancing economic cooperation among Southeast Asia nations. While the R-squared values are relatively low, the statistical significance of the core variables underscores their relevance. This study contributes to the broader understanding of macroeconomic management and regional economic integration in Southeast Asia.
The Competitive Advantage of CCC in Integrated Services of Construction in Indonesia Li Wenjiang; Jacob Tan
Milestone: Journal of Strategic Management Vol 5. No. 2 September 2025
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/ms.v5i2.10025

Abstract

In the background of global infrastructure construction and the transformation of the construction industry to an integrated service model, this study draws on strategic management theory, especially Porter's theory of competitive advantage and the resource-based view (RBV), to explore the research questions: 1. What are the strategic factors that contribute to the competitive advantage of CCC? 2. How are the strategic factors applied/implemented to contribute to the competitive advantage of CCC. And draw the competitive advantages of CCC to maintain its leading position in the highly competitive integrated building services field. This study is mainly based on interviews, through qualitative research and literature analysis, to explore the factors that CCC uses to build differentiated competitive advantages. The development of CCC in Indonesia shows that Chinese enterprises should pay attention to the comprehensive balance of technical capabilities, quality control, social responsibility and employee development in the process of "going out" to achieve a high-quality and responsible international development path. The researchers hope that this study can provide some reference for peer companies to enhance their competitive advantages, and at the same time provide strategic inspiration for international customers and other researchers to understand how Chinese integrated building service providers can gain competitive advantages in the evolving global infrastructure ecosystem.
The Effect of Information Sharing and Trust on Supply Chain Management Performance with Long-Term Relationship as A Mediator: Evidence from SMEs in Yogyakarta Puspitasari, Saniyah
Milestone: Journal of Strategic Management Vol 5. No. 2 September 2025
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/ms.v5i2.10217

Abstract

This study investigates the effect of information sharing and trust on supply chain management (SCM) performance, with long-term relationship as a mediating variable. A census sampling technique was applied to 45 Small and Medium Enterprises (SMEs) in Yogyakarta’s Bakpia industry. Data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that information sharing (β = 0.405) and trust (β = 0.410) significantly influence long-term relationships. Long-term relationships, in turn, have a strong positive effect on SCM performance (β = 0.378). Information sharing also directly affects SCM performance (β = 0.367), while trust shows a weaker direct effect (β = 0.212). Indirectly, both information sharing (β = 0.149) and trust (β = 0.151) contribute to SCM performance through long-term relationships as a mediator. The total effect analysis further highlights that information sharing (β = 0.578) and trust (β = 0.499) enhance SCM performance, with long-term relationship showing the highest total effect (β = 1.149). These findings emphasize the critical mediating role of long-term relationships in strengthening supply chain collaboration, particularly where trust alone may not directly drive performance. The study contributes to SCM literature by providing empirical evidence from SMEs in the traditional food sector and offers practical implications for managers to prioritize both transparent information exchange and sustainable partnerships to improve supply chain outcomes.
Nilai Perusahaan Memediasi Financial Distress dan Firm Size terhadap Return Saham [Company Value Mediates Financial Distress and Firm Size on Stock Returns] Lusmeida, Herlina; Tiara Syahda Khalisah
Milestone: Journal of Strategic Management Vol 5. No. 2 September 2025
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19166/ms.v5i2.10296

Abstract

This study aims to provide empirical evidence regarding the effect of financial distress and firm size on stock returns through firm value. This study examines the variables of financial distress, firm size, stock returns and firm value in the property sector in 2021-2023 in the ASEAN Region 5. The method of sampling is purposive sampling. The type of data selected is panel data. This secondary data is taken from annual reports and financial statements available through S&P Capital IQ. The results of the study stated that financial distress does not affect the firm’s value. Firm size has a negative effect on the firm’s value. Financial distress has a negative effect on stock returns. Firm size has a negative effect on stock returns. Firm value has a positive effect on stock returns. Firm value does not significantly mediate the relationship between financial distress and stock returns. Firm value does not significantly mediate the relationship between firm size and stock returns. Academic implication for this research is enriching literature studies about firm value, financial distress and stock return.  Practical implication is Companies do not only need to maintain financial stability but also build reputation and credibility among investors as a strategic effort to improve their stock market performance. Abstrak Bahasa Indonesia: Penelitian ini bertujuan untuk memberikan bukti empiris mengenai pengaruh kesulitan keuangan dan ukuran perusahaan terhadap pengembalian saham melalui nilai perusahaan. Penelitian ini mengkaji variabel kesulitan keuangan, ukuran perusahaan, pengembalian saham, dan nilai perusahaan pada sektor properti tahun 2021–2023 di Kawasan ASEAN 5. Metode pengambilan sampel yang digunakan adalah purposive sampling. Jenis data yang dipilih adalah data panel. Data sekunder ini diambil dari laporan tahunan dan laporan keuangan yang tersedia melalui S&P Capital IQ. Hasil penelitian menyatakan bahwa kesulitan keuangan tidak memengaruhi nilai perusahaan. Ukuran perusahaan berpengaruh negatif terhadap nilai perusahaan. Kesulitan keuangan berpengaruh negatif terhadap pengembalian saham. Ukuran perusahaan berpengaruh negatif terhadap pengembalian saham. Nilai perusahaan berpengaruh positif terhadap pengembalian saham. Nilai perusahaan tidak memediasi hubungan antara kesulitan keuangan dan pengembalian saham secara signifikan. Nilai perusahaan tidak memediasi hubungan antara ukuran perusahaan dan pengembalian saham secara signifikan. Implikasi akademis dari penelitian ini adalah memperkaya studi literatur tentang nilai perusahaan, kesulitan keuangan, dan pengembalian saham. Implikasi praktisnya adalah perusahaan tidak hanya perlu menjaga stabilitas keuangan, tetapi juga membangun reputasi dan kredibilitas di kalangan investor sebagai upaya strategis untuk meningkatkan kinerja pasar sahamnya.

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