Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis
Jurnal Relevansi: Jurnal Ekonomi, Manajemen, dan Bisnis is a peer-reviewed journal. Ekombis invites academics and researchers who do original research in the fields of economics, management, and accounting, including but not limited to: Economics Monetary Economics, Finance, and Banking International Economics Public Economics Economic development Regional Economy Management Science Marketing Financial management Human Resource Management International Business Entrepreneurship
Articles
140 Documents
<![CDATA[Evaluating the Financial Health of Islamic Banks: A CAMEL Approach at PT BPRS HIK MCI ]]>
<![CDATA[Santosa Santosa]]>;
<![CDATA[Agniya Thahira]]>;
<![CDATA[Ana Rimbasari]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.371
<![CDATA[This study aims to analyze the financial soundness of PT BPRS HIK MCI using the CAMEL framework, which comprises Capital, Asset Quality, Management, Earnings, and Liquidity, within the context of recent economic dynamics. The research employs a quantitative approach with a descriptive-analytical design. Secondary data were obtained from the financial statements of PT BPRS HIK MCI for the observed period. Data analysis was conducted by calculating financial ratios representing each CAMEL component and comparing the results with the applicable banking soundness standards. The findings indicate that the overall financial soundness of PT BPRS HIK MCI falls into the healthy category. The capital adequacy ratio reflects the bank’s ability to absorb potential risks, asset quality remains within acceptable limits, operational efficiency is relatively well maintained, profitability demonstrates positive performance, and liquidity is sufficient to support the bank’s intermediation function. These results suggest that the bank’s risk management practices and financial management have been implemented effectively. This study provides managerial implications emphasizing the importance of strengthening capital structure, improving financing quality, enhancing operational efficiency, and maintaining adaptive liquidity management to ensure the sustainability and stability of Islamic rural banks amid economic uncertainty.]]>
<![CDATA[Optimal Investment Strategy Selection: Real Options Approach in Indonesia’s Oilfield Drilling Services ]]>
<![CDATA[Muhammad Reihant Muzadi]]>;
<![CDATA[Oktofa Yudha Sudrajad]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.374
<![CDATA[This study develops an analytical framework to select the optimal investment strategy for an Indonesian state-owned oilfield services company, addressing CAPEX gaps and comparing static and dynamic valuation approaches under uncertainty. The study employs a case-based quantitative valuation design. Discounted Cash Flow (DCF) is used as the A case-based quantitative design uses Discounted Cash Flow (DCF) to assess project feasibility in varying demand scenarios, while Real Options Valuation (ROV), supported by Monte Carlo simulation, evaluates the value of managerial flexibility. DCF shows the project is unfeasible in low demand but viable in base and high scenarios. ROV, incorporating flexibility, provides higher investment values, turning a negative NPV in the low-demand case into a positive Total Investment Value (TIV), indicating strategic viability under uncertainty. Integrating Real Options Valuation into the firm’s capital budgeting process improves investment decision making compared with relying on Discounted Cash Flow alone. The analysis focuses on a single Indonesian state-owned oilfield services company, with uncertainty primarily in market demand and volatility, limiting generalizability to other firms or environments. This study provides a decision-making framework for investment strategy selection in oilfield services by comparing DCF and ROV, showing how option value influences decisions under uncertainty through simulation-based valuation.]]>
<![CDATA[Job Demands and Performance Among Oil Palm Harvesters: Testing Work Stress Mediation ]]>
<![CDATA[Mohammad Abiyyu Rendragraha]]>;
<![CDATA[Endang Parahyanti]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.375
<![CDATA[This study examined whether job demands predict job performance among oil palm harvesters and whether work stress mediates this relationship from the job demands–resources (JD-R) perspective. A cross-sectional correlational survey was conducted with 215 oil palm harvesters at PT X, Central Kalimantan. Data were analyzed using structural equation modeling (SEM) with the maximum likelihood (ML) estimator in JASP, including an indirect-effect test for mediation. Job demands did not significantly predict work stress (β= 0.072; p= 0.350), and the indirect effect through work stress was not significant (β= −0.016; p= 0.363). Job demands positively predicted job performance (β= 0.650; p< 0.001), whereas work stress negatively predicted job performance (β= −0.514; p< 0.001). In this plantation context, job demands appear to function more as performance-relevant (challenge-like) requirements rather than stress-inducing burdens, whereas work stress, when present, remains detrimental to performance. The study is limited by cross-sectional self-report data from a single firm and an all-male sample, and job resources were not measured. Nevertheless, it clarifies a non-mediated pathway and points to strengthening resources and stress management as targeted levers for sustaining performance.]]>
<![CDATA[Strategic Diversification and Core Competence in a Mid-Sized Construction Firm ]]>
<![CDATA[Wahyu Surya Agung]]>;
<![CDATA[Harimukti Wandebori]]>;
<![CDATA[Socrates Rudy Sirait]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.376
<![CDATA[This study examines how a mid-sized Indonesian construction firm can strategically diversify while protecting its core competencies. It uses a sequential explanatory mixed-methods single-case design of WSA Construction + Planning, combining semi-structured interviews and document analysis, triangulated with sector reports and internal performance indicators. Related diversification options that align with market attractiveness and strategic fit, particularly institutional healthcare projects and sustainability consulting, emerge as the most promising paths, whereas unrelated real estate ventures increase strategic and execution risk. The evidence highlights the role of dynamic capabilities in sequencing and integrating diversification moves without diluting the core business. The most defensible approach is phased, competence-adjacent diversification supported by disciplined execution and performance monitoring to safeguard the firm’s distinctive capabilities. As a single-case study, the findings support analytical rather than statistical generalization, and scenario-based projections remain sensitive to implementation quality and market conditions. This article offers an integrated, practice-oriented framework that links external market analysis, VRIN-based capability assessment, and Balanced Scorecard-informed governance to guide diversification decisions in mid-sized construction firms in emerging markets.]]>
<![CDATA[Information Quality and Digital Self-Efficacy on PLN Mobile Usage: Mediating Role of Behavioral Control ]]>
<![CDATA[Sinung Mugiaji]]>;
<![CDATA[Arief Budiman]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.379
<![CDATA[This study investigates the determinants of actual engagement within the PLN Mobile application by examining information quality and digital self-efficacy as primary antecedents. It evaluates the mediating role of perceived behavioral control in linking system attributes to actual user behavior. An explanatory quantitative design with a causal-verificative approach was applied to data from 540 active users in South and Central Kalimantan. Using purposive sampling, structural relationships were analyzed through Partial Least Squares -Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The findings reveal that information quality and digital self-efficacy significantly enhance both perceived behavioral control and actual usage. Perceived behavioral control acted as a significant partial mediator. The structural model explains 81.7% of the variance in behavioral control (R²= 0.817) and 94.7% in actual application usage (R²= 0.947), indicating strong explanatory power. These results confirm that psychological empowerment driven by information quality and digital confidence plays a key role in sustaining digital engagement. The sustainable utilization of digital public services in the energy sector depends largely on consumer psychological empowerment through reliable information systems and user-focused digital support. This study focuses on the Kalimantan Selatan Middle Region (Kalselteng) and uses cross-sectional data. It integrates the theory of planned behavior and the information systems success model to explain digital service adoption.]]>
<![CDATA[Sensemaking of Sustainable Invesment: Fintech’s Role Shaping Retail Investor’s Green Intention in Indonesia ]]>
<![CDATA[Ni Luh Laksmi Rahmantari]]>;
<![CDATA[I Gusti Ayu Lia Yasmita]]>;
<![CDATA[Made Mulia Handayani]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.382
<![CDATA[This study examines retail investors’ intentions to invest in sustainable financial products through fintech in Indonesia, focusing on green values, digital appeal, and social interaction amid limited ESG understanding. The study applies Interpretative Phenomenological Analysis (IPA) with 15 investors, using semi-structured interviews and thematic analysis based on Sensemaking Theory. Investment intention is driven by moral motivation, digital cues, and social influence, with investors relying more on perceived plausibility than factual verification. Fintech also serves as a space for the construction of collective meaning. Fintech functions not only as a transactional tool but also as a platform that shapes perceptions of sustainable investment, highlighting the need for stronger ESG literacy, transparency, and regulation. The qualitative approach and small sample size limit the generalizability of the findings. This study offers deeper insights into investor behavior in fintech-based sustainable finance and provides practical implications for reducing greenwashing and improving authentic sustainable investment practices.]]>
<![CDATA[Knowledge, Leadership, and Experience: Determinants of Patient Safety Culture ]]>
<![CDATA[Ni Luh Putu Asrini Dewi]]>;
<![CDATA[Endang Suswati]]>;
<![CDATA[Sugeng Mulyono]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.383
<![CDATA[Patient safety culture is a critical component of healthcare quality and is influenced by both individual and organizational factors. This study examines the roles of knowledge level and leadership style in shaping patient safety culture, while considering length of service (tenure) as an intervening variable. A quantitative explanatory design was employed using structural equation modeling-partial least squares (SEM-PLS). The study involved 40 healthcare professionals (doctors, nurses, and midwives) at Permata Husada Pleret Hospital, Yogyakarta, who were selected using total sampling. Data were collected using validated questionnaires and analyzed to assess the direct and indirect relationships among the variables. Knowledge level (β = 0.312; p < 0.05) and leadership style (β = 0.354; p < 0.05) significantly influenced patient safety culture. Length of service (tenure) also had a significant effect (β = 0.267; p < 0.05). The indirect effects indicate that tenure partially transmits the influence of knowledge (β = 0.077; p < 0.05) and leadership (β = 0.080; p < 0.05) on patient safety culture. The model explained 60.0% of the variance in patient safety culture (R² = 0.600), indicating moderate-to-strong explanatory power. Patient safety culture is shaped by the combined influence of knowledge, leadership and tenure. However, tenure should be interpreted cautiously as organizational exposure rather than purely experiential learning. Given the small sample size and single-hospital setting, the findings should not be generalized. Future studies should incorporate larger, multicenter samples to improve external validity.]]>
<![CDATA[Islamic Work Culture and Environment Effects on Employee Engagement: The Mediating Role of Job Satisfaction ]]>
<![CDATA[Nindy Briliany Wizha]]>;
<![CDATA[Hastin Umi Anisah]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.389
<![CDATA[This study examines the physical work environment and Islamic work culture as key job resources within the Job Demands–Resources (JD-R) framework. It analyzes their direct and indirect effects on employee work engagement through job satisfaction as a mediating mechanism at PT Bersama Ukhuwah Sejahtera Banjarmasin. This study used a quantitative explanatory approach. Data from 111 employees were collected using saturated sampling and analyzed with PLS-SEM in SmartPLS 4. The structural model explained 68.3% of the variance in job satisfaction and 61.9% in work engagement. The work environment and Islamic work culture significantly increased both job satisfaction and work engagement. Job satisfaction acted as a partial mediator in both relationships. Among Islamic work culture indicators, Amanah emerged as the most dominant dimension influencing engagement. Sustainable employee engagement in Islamic-oriented organizations requires strengthening workplace resources and institutionalizing Amanah-centered values, both operating through enhanced job satisfaction. This study was limited to a single organization in Banjarmasin and used a cross-sectional design, restricting generalizability and causal inference. Self-reported data may also introduce common method bias. The study integrates JD-R theory with Islamic management principles and provides practical HR insights for improving engagement through workplace conditions and Amanah-based accountability.]]>
<![CDATA[Customer Satisfaction as a Mediator of Digital Marketing and Spiritual Value on Patient Loyalty ]]>
<![CDATA[Annisa Ratnaningtyas]]>;
<![CDATA[Martaleni Martaleni]]>;
<![CDATA[Tri Cicik Wijayanti]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.399
<![CDATA[This study examines the mediating role of customer satisfaction in the relationship between digital marketing, spiritual value, and patient loyalty in pesantren-based hospitals. A quantitative approach using Structural Equation Modeling-Partial Least Squares (SEM-PLS) was applied. Data were collected from 160 patients at Yasyfin Darussalam Gontor Hospital using a structured Likert-scale questionnaire. The findings show that digital marketing and spiritual values significantly influence customer satisfaction. Spiritual value directly impacts patient loyalty, whereas digital marketing influences loyalty indirectly through satisfaction. Customer satisfaction was the strongest mediator. Integrating digital marketing strategies with spiritual services enhances patient satisfaction and loyalty. Customer satisfaction plays a key role in linking these factors to the long-term loyalty of patients. This study contributes to the literature by demonstrating the combined impact of digital marketing and spiritual care on patient loyalty, highlighting the importance of addressing both technological and emotional needs in healthcare settings. This study is limited by its focus on a single hospital with a sample size of 160 patients. The cross-sectional design restricts the ability to capture changes in patient loyalty over time, and other influencing factors such as service quality were not considered.]]>
<![CDATA[Mutation and Work Environment Effect on Employee Performance with Compensation as Mediation Variable ]]>
<![CDATA[Agung Danu Wibowo]]>;
<![CDATA[Agus Sudigdo]]>
<![CDATA[ Jurnal Relevansi : Ekonomi, Manajemen dan Bisnis Vol 10 No 1 (2026): Jurnal Relevansi: Ekonomi, Manajemen dan Bisnis ]]>
Publisher : <![CDATA[LPPM STIE KRAKATAU ]]>
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DOI: 10.61401/relevansi.v10i1.402
<![CDATA[This study aims to analyze the effect of job rotation and work environment on the performance of patrol vessel crew members at the Ministry of Marine Affairs and Fisheries, with compensation as a mediating factor. The population consisted of patrol vessel crew members across Indonesia, with a sample of 133 respondents. A quantitative approach using path analysis was employed to examine the direct and indirect effects of the variables. The results show that compensation can mediate the effect of the work environment on performance, but it does not mediate the effect of job rotation on performance. This study is limited to employees of the Directorate General of Marine and Fisheries Resources Surveillance (Ditjen PSDKP), which may restrict the generalizability of the findings to other public sector organizations with different contexts and work systems. Based on these findings, the Ministry of Marine Affairs and Fisheries can redesign its job rotation policy to focus on enhancing employees’ experience, skills, and competence. Policies regarding the work environment and compensation should be integrated to improve patrol vessel crew performance while ensuring their welfare and loyalty, considering the high risks and remote locations involved.]]>
