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Model Development of Sustainable Island Ecotourism in Seribu Islands Regency: NRBV, ISM, and DEMATEL Approaches Untung Setiyo Purwanto; Aryo Sahid Sujiwo
Winter Journal: IMWI Student Research Journal Vol. 7 No. 2 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i2.105

Island ecotourism plays a crucial role in achieving sustainable development goals; however, its development is inherently complex. This study aimed to identify key elements of island ecotourism based on the Natural Resource-Based View (NRBV), analyze the interrelationships among these elements, determine their hierarchical structure, and classify them into relevant categories. Data were collected through a survey involving 12 expert respondents and 64 visitors. The study was conducted on Tidung Island and Untung Jawa Island in the Seribu Islands Regency, Jakarta Province, between August and October 2024. The data were analyzed using the Delphi method, MICMAC, ISM, and DEMATEL approaches. The findings identified key elements of island ecotourism with strong influence on sustainable development. These included unique local resources, effective green marketing, supportive and consistent government policies, adequate facilities and infrastructure, high-quality products and services, and the promotion of environmental awareness and appreciation. The results indicate that these elements collectively play a critical role in shaping sustainable island ecotourism development. These findings provide a strategic framework for stakeholders and policymakers in formulating development strategies. In particular, emphasis should be placed on strengthening unique local resources, green marketing practices, and consistent government policy support to ensure the long-term sustainability of island ecotourism.

The Effect of Flexible Working Arrangements and Work-Life Balance on Job Performance With Employee Engagement As an Intervening Variable (Case Study of The Deputy For Industry and Investment) Siti Safaria; Alief Nurunnahdliyah
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.82

This study is motivated by the fluctuation in pension fund investment returns in Indonesia despite the continuous growth in total assets and investment value. The study aims to examine the effect of asset allocation strategies on pension fund investment returns and to test the moderating role of interest rates. The study employs secondary data for the period 2020–2024 obtained from pension fund financial statements and the Bank Indonesia policy rate. The sample consists of 35 pension funds with 175 observations selected using purposive sampling. Data were analyzed using panel data regression and moderation testing. The results indicate that deposits, government securities, and equities have no significant effect on investment returns, while corporate bonds have a positive and significant effect. Interest rates are found to strengthen the relationship between asset allocation and pension fund investment returns.

The Effect of Servant Leadership and Work Culture on Account Officer Performance With Reward as A Moderating Variable (A Study At PT Permodalan Nasional Madani Mekaar Yogyakarta Branch) Trihanung Wulandriyo; Siti Safaria
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.86

Variations in the performance of Account Officers (AOs) at PT Permodalan Nasional Madani (PNM) Mekaar Yogyakarta Branch, as reflected in differences in lending distribution across operational areas, indicate challenges in human resource management. This condition highlights the need for organizations to not only focus on achieving performance targets but also to strengthen leadership practices and organizational work culture to ensure sustainability. This study aims to empirically examine the effect of servant leadership and work culture on the performance of Account Officers (AOs), as well as to analyze the moderating role of the reward system in these relationships. This research employs a quantitative approach with a correlational research design. Primary data were collected through a structured survey using closed-ended questionnaires with a five-point Likert scale, distributed to active Account Officers at PT PNM Mekaar Yogyakarta Branch. Respondents were selected using a purposive sampling technique based on predefined criteria. Data analysis was conducted using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS 3 Professional software to test the relationships between variables simultaneously and to identify moderating effects. The findings of this study are the better the work culture, the better the performance; the better the servant leadership, the better the performance; the better the rewards, the better the performance; moderation of rewards strengthens the relationship between servant leadership and performance; moderation of rewards strengthens the relationship between work culture and performance.

The Effect of Asset Allocation Strategy on Pension Funds Investment Returns: The Moderating Role of Interest Rates Rista Eva Fitriyana; Aldrin Herwany
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.87

This study is motivated by the fluctuation in pension fund investment returns in Indonesia despite the continuous growth in total assets and investment value. The study aims to examine the effect of asset allocation strategies on pension fund investment returns and to test the moderating role of interest rates. The study employs secondary data for the period 2020–2024 obtained from pension fund financial statements and the Bank Indonesia policy rate. The sample consists of 35 pension funds with 175 observations selected using purposive sampling. Data were analyzed using panel data regression and moderation testing. The results indicate that deposits, government securities, and equities have no significant effect on investment returns, while corporate bonds have a positive and significant effect. Interest rates are found to strengthen the relationship between asset allocation and pension fund investment returns.

The Effect of Work-Life Balance and Leadership Style on Employee Turnover Intention Through Job Satisfaction as An Intervening Variable Intan Masito; Siti Safaria
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.88

This study aims to determine the effect of work-life balance and leadership style on turnover intention through job satisfaction as an intervening variable. The case study for this research was conducted at PT. Permodalan Nasional Madani, Jember Branch. The basis for this study is the issue of turnover intention, or the desire of employees to leave the company, which is one of the challenges currently faced by PT. Permodalan Nasional Madani, Jember Branch. As we know, a high number of turnover intentions greatly affects the development of the company's business. The data used in this study were obtained from 391 employees who filled out a questionnaire provided by the researcher, with a deadline of 5 days. The results of this study indicate that a good work-life balance improves job satisfaction. However, even with a good work-life balance, turnover intention cannot be reduced. High job satisfaction can reduce turnover intention. A good leadership style improves job satisfaction. However, even with a good leadership style, turnover intention cannot be reduced. Job satisfaction mediates work-life balance in reducing turnover intention. Job satisfaction also mediates leadership style in reducing turnover intention.

The Effect of Job Fit And Psychological Well-Being on The Quality of Financing Decisions, With Analytical Accuracy as a Mediator Among Credit Risk Analysts (CRA) at Pnm Siti Safaria; Elizabeth Yuli Parlina
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.89

This research aims to analyze the influence of human resource factors (HR) on the quality of financing decisions on Credit Risk Analyst (CRA) at PT Permodalan Nasional Madani (PNM). The research object includes 106 CRAs spread across 58 ULaMM branch offices throughout Indonesia, with variations in the number of CRAs per branch ranging from 1 to 3 people according to the workload and volume of financing proposals. The research used a quantitative approach with path analysis to test seven hypotheses that included direct and indirect influences between variables. The results of the study show that the suitability of CRA human resource placement has a positive and significant effect on the accuracy of financing analysis. Similarly, the psychological health of CRA has a positive and significant effect on the accuracy of financing analysis. The accuracy of financing analysis has subsequently been proven to have a positive and significant effect on the quality of financing decisions. However, the suitability of CRA's human resource placement and CRA's psychological health do not directly affect quality financing decisions. This study finds that the accuracy of financing analysis fully mediates the relationship between the suitability of CRA human resource placement and financing decision quality, as well as between CRA psychological health and financing decision quality. This implies that improving financing decisions requires strengthening financing analysis competence, rather than relying solely on placement or psychological factors.

The Effect of Compensation and Leadership on Employee Loyalty With Job Satisfaction as A Mediating Variable (A Case Study at PT Permodalan Nasional Madani, Solo Branch) Ade Vebruanito Nistadi; Djoko Hanantijo
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.90

This study aims to analyze the influence of leadership and compensation on employee work loyalty at PT Permodalan Nasional Madani (PNM) Solo Branch, as well as the mediating role of job satisfaction in that relationship. Employee work loyalty is a strategic resource that significantly impacts the company’s competitive advantage. This study uses a quantitative approach, with data collected through surveys distributed to employees of PT PNM Solo Branch. The research population consists of 120 individuals, all of whom are treated as research respondents. Data collection was conducted through a questionnaire using a continuous rating scale (CRS) of 1–10 (Strongly Disagree—Strongly Agree). The data were processed using SmartPLS. The results of this study indicate that good compensation can improve job satisfaction, and good leadership can also improve job satisfaction. However, regardless of how good the compensation is, it cannot increase loyalty. In contrast, good leadership can increase loyalty. The higher the job satisfaction, the higher the loyalty. Job satisfaction can mediate and strengthen the relationship between compensation and loyalty, and it can also mediate and strengthen the relationship between leadership and loyalty

Analysis of The Influence of Training Effectiveness and Employee Engagement on Employee Retention Through Organizational Commitment as an Intervening Variable Yoseph Yunianto P. Pardede; Siti Safaria
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.91

This study aims to analyze the influence of Training Effectiveness and Employee Engagement on Employee Retention with Organizational Commitment as an intervening variable at PT Mitra Bisnis Madani (PT MBM), an affiliated company (PPU Perusahaan Partner Usaha) of PT Permodalan Nasional Madani (PNM). PNM is a non-bank financial institution in Indonesia that focuses on empowering micro, small, and medium enterprises (MSMEs), as well as cooperatives. PNM is a subsidiary of BRI and is part of the Ultra Micro Holding. Its main services include microfinance through programs such as PNM Mekaar (for underprivileged women) and PNM ULaMM. PT Mitra Bisnis Madani focuses on car and motorcycle rental activities to support PNM’s operations in empowering MSMEs and faces various challenges related to managing employee competencies and workloads effectively to achieve optimal performance. This study examines the relationship between Training Effectiveness and Employee Engagement on Employee Retention, with Organizational Commitment as an intervening variable, using the path analysis method. Data were collected through a survey using a questionnaire distributed to all employees of PT Mitra Bisnis Madani across Indonesia. The variables studied include Training Effectiveness, Employee Engagement, and Employee Retention, with Organizational Commitment as the intervening variable. This research provides strategic recommendations for PT Mitra Bisnis Madani in managing these factors to achieve organizational sustainability

Persuasive Communication, Fear of Missing Out (FOMO), and Impulse Buying in Live Shopping: A Literature Review Adinda Astari; Azhar Malik; Muhammad Ibrahim
Winter Journal: IMWI Student Research Journal Vol. 7 No. 1 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i1.94

The development of live shopping has brought significant changes to business communication patterns and consumer behavior in the era of social commerce. Direct interaction between hosts and audiences through digital platforms such as TikTok and Shopee creates a form of persuasive communication capable of influencing emotions and consumer purchasing decisions rapidly. This study aims to analyze the relationship between persuasive communication, Fear of Missing Out (FOMO), and impulse buying behavior in digital live shopping activities. The research employs a qualitative approach using a literature study method, reviewing various national and international journals published between 2020 and 2025. Data were obtained from academic databases such as Google Scholar, ScienceDirect, Scopus, and ResearchGate. The results indicate that persuasive communication by live shopping hosts plays a critical role in capturing attention, fostering emotional engagement, and building consumer trust. Communication strategies employed include emotional appeal, urgency marketing, scarcity strategy, social proof, and real-time interaction with the audience. Moreover, live shopping features such as countdown timers, limited stock, flash sales, and notifications of other users’ purchase activities reinforce consumers’ sense of FOMO. This psychological condition, in turn, encourages impulse buying, leading to spontaneous purchases without prior planning. Applying the S-O-R (Stimulus–Organism–Response) model, these stimuli trigger FOMO as the organism and generate unplanned purchases as the response. Therefore, the success of live shopping depends not only on product quality but also on creating interactive, emotional, and socially engaging digital experiences.

The Impact of Fluctuations in Fuel Prices and the Rupiah Exchange Rate on the Operational Management Efficiency of Shipping Companies Dony Ari Nugroho; Sofyan Halim
Winter Journal: IMWI Student Research Journal Vol. 7 No. 2 (2026): Winter Journal: IMWI Student Research Journal
Publisher : Institut Manajemen Wiyata Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52851/wt.v7i2.108

Fuel oil (BBM) prices and the rupiah exchange rate are two external economic variables that significantly influence the cost structure of shipping companies, particularly in an archipelagic country such as Indonesia. This study aimed to examine the effects of fuel price fluctuations and rupiah exchange rate movements on the efficiency of shipping operational management. The study employed a quantitative descriptive-verification approach using secondary time-series data, including high-speed diesel (HSD) and marine fuel oil (MFO) prices, the rupiah exchange rate against the US dollar, ship fuel consumption, and operational costs per voyage. The data were analyzed using multiple linear regression and could be extended to panel data regression for cross-fleet observations. The results indicated that increases in fuel prices raised ship operational costs and potentially reduced maritime transportation volume, while rupiah depreciation increased the costs of fuel procurement, spare parts, and vessel maintenance due to dependence on imported components. Operational efficiency could be improved through information technology-based fuel consumption monitoring, optimization of vessel economic speed (slow steaming), and budget planning that accounted for exchange rate fluctuations and energy cost sensitivity. This study contributed an operational efficiency strategy framework for shipping companies that is adaptive to energy price pressures and exchange rate volatility.

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Contact Name
Zulkarnain

Contact Email
akun.imwi@gmail.com

Phone
+6281221433640

Journal Mail Official
akun.imwi@gmail.com

Editorial Address
https://winter.imwi.ac.id/index.php/winter/editorial-team

Location
Kota sukabumi,

Jawa barat

INDONESIA

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Zulkarnain

Contact Email akun.imwi@gmail.com

Phone +6281221433640

Journal Mail Official akun.imwi@gmail.com

Editorial Address https://winter.imwi.ac.id/index.php/winter/editorial-team

Location Kota sukabumi, Jawa barat INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Zulkarnain

Contact Email
akun.imwi@gmail.com

Phone
+6281221433640

Journal Mail Official
akun.imwi@gmail.com

Editorial Address
https://winter.imwi.ac.id/index.php/winter/editorial-team

Location
Kota sukabumi,

Jawa barat

INDONESIA