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Management Analysis Journal
Published by Universitas Negeri Semarang
ISSN : 22526552     EISSN : 25021451     DOI : https://doi.org/10.15294/maj
Core Subject : Economy,
Economics, Econometrics & Finance
Management Analysis Journal (MAJ), provides a forum for the full range of scholarly study of the language and literature.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 76 Documents
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The Influence of Work Environment and Turnover Intention on Performance: Evidence From a Maritime Vocational Polytechnic Transelasi, Fajar; Rohmah, Nur
Management Analysis Journal Vol. 13 No. 3 (2024): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v13i3.18892

Abstract

This study aims to examine the effects of work environment and turnover intention on the performance of lecturers at Politeknik Ilmu Pelayaran Semarang. Limited research exists on work environment and turnover intention in the context of maritime vocational education, and inconsistencies in previous studies on turnover intention and lecturer performance further justify this investigation. Turnover intention is also crucial for identifying factors that influence an employee’s decision to stay with or leave the organization. This study employs a quantitative, causal approach to test the relationships between variables, with quantitative methods chosen for their generalizability within the maritime vocational education context. Due to the limited number of lecturers, a saturated sample of 30 respondents was used, all of whom were faculty members at Maritime Vocational Polytechnic. Data were analyzed using Variance-Based Structural Equation Modeling (VB-SEM). Findings indicate that both work environment and turnover intention have a positive and significant effect on lecturer performance. However, turnover intention does not mediate the relationship between work environment and performance, suggesting that other factors may shape performance outcomes. This implies that enhancing lecturer comfort and fostering a supportive work environment could further improve performance. Future research should explore factors underlying the positive influence of turnover intention on lecturer performance at PIP Semarang.
Impact of Task Variation and Job Knowledge on Employee Performance Through Value of Service Prasetyawan, Agung; Junaidi, Achmad; Irawati, Marsha Ayunita; Subekti, Heny
Management Analysis Journal Vol. 13 No. 2 (2024): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v13i2.18896

Abstract

This research aims to analyze the influence between task variation and knowledge of the job on employee performance using the value of services as the moderating variable. This research tries to fill the inconsistency of previous research findings and fill the existing literature gap. This research uses 133 active employees from Pemerintah Kota Semarang, that are collected by purposive sampling method. This research is quantitative research using Structural Equation Modelling (SEM). The result shows that task variation has a significant and positive influence on the value of service, but is not significant on employee performance. Furthermore, knowledge of a job has a positive and significant influence on the value of services and employee performance. This research also concludes that the value of service has a positive and significant mediate influence on employee performance.
Leverage, Fixed Assets, and Board Characteristic on Financial Performance of Non-Cyclicals Companies Muhammad Rizky; Sajida, Yusrina Almas; Lestari, Henny Setyo; Margaretha, Farah
Management Analysis Journal Vol. 13 No. 4 (2024): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v13i4.20072

Abstract

This study aims to analyze the impact of noncyclical company characteristics, board of director composition, and leverage on financial performance in Indonesia. The researcher uses quantitative research methodology to collect and analyze data. To investigate the impact of significant factors on each other, this study uses multiple linear regression analysis as its data analysis approach. The 66 sampled organizations all have data collected from their annual reports between 2019 and 2023. The result of the analysis shows that ROA and ROE impacted by the debt ratio. Tangible assets have an impact on ROE but not impact on ROA. Board size positively affects ROA but not affect on ROE. Board independence influences ROA but has no effect on ROE. ROA and ROE are impacted by firm size.
Good Corporate Governance and Company's Financial Performance with a Perspective Agency Theory in Companies Listed in The LQ45 Index Eka Oktafia; Siti Ridloah; Mochamad Akbar
Management Analysis Journal Vol. 14 No. 1 (2025): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v14i1.20099

Abstract

This study examines the impact of good corporate governance on the company's financial performance. The population in this study are companies listed in the LQ45 Index for the 2017-2021 period. This study used a purposive sampling technique and obtained 28 companies, with as many as 140 observations. The result shows that managerial ownership has no significant effect on the company’s financial performance. The variable size of the board of directors has a significant positive effect on the company's financial performance. The independent commissioner variable has no significant effect on the company's financial performance. Audit committee meeting variables and gender diversity have no significant effect on the company's financial performance. Firm size as a control variable has no significant effect on company finances, and leverage as a control variable has a significant negative effect on the company's financial performance. Further researchers are also advised to examine other factors related to good corporate governance
The Impact of User Experience on Consumer Well-Being Among Netflix Users Yesi Safita; Alfansi, Lizar
Management Analysis Journal Vol. 14 No. 1 (2025): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v14i1.22223

Abstract

This study aims to explore the influence of user experience on consumer well-being on Netflix. Consumers have many options in choosing entertainment content to watch on Netflix and choose content that has a positive impact on aspects of their lives so as to achieve consumer well-being. With the growing popularity of streaming services, this study focuses on factors such as self-image fit, convenience factor, functionality factor, brand loyalty, attachment to the brand community, and frequency of use. This study uses quantitative methods with multiple linear regression analysis, data collected through online surveys from Netflix users. The results showed that self-image conformity, convenience factor, functionality factor, brand loyalty, brand community attachment have a significant influence on consumer well-being variables while current consumption variables do not have a significant influence on consumer well-being variables. Future researchers are also in addition, future researchers are also advised to examine other factors related to consumer well-being.
Non-Linear Effects of Political Connections on Corporate Investment and the Moderating Role of Cash Holdings in Indonesian SOEs Wicaksari, Erisa Aprilia; Rini Setyo Witiastuti; Kris Brantas Abiprayu; Nabila Rifa Hanifah
Management Analysis Journal Vol. 13 No. 2 (2024): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v13i2.31681

Abstract

This study investigates the complex relationship between political connections and corporate investment, focusing on state-owned enterprises (SOEs) in Indonesia during the period 2018–2021. Drawing on agency theory and political economy frameworks, the research proposes a non-linear (inverted U-shaped) effect of political ties on firm-level investment decisions. Furthermore, the study examines the moderating role of cash holdings, positing that financial slack amplifies both the benefits and drawbacks of political affiliations. Using panel regression models with fixed effects, the analysis reveals a significant inverted U-shaped relationship between political connection intensity and investment levels, confirming the hypothesized non-linearity. Additionally, interaction terms show that cash holdings strengthen this non-linear pattern: firms with higher cash reserves are more sensitive to both the enabling and distortionary effects of political connections. These findings are robust to alternative specifications and contribute to the understanding of political capital’s nuanced role in corporate finance, especially within hybrid political-economic systems like Indonesia’s. The results suggest that while political connections may serve as strategic assets under certain conditions, they can also generate inefficiencies when unchecked.
Investor Attention and the Religious Sentiment: Empirical Evidence from Ramadan Return on the Indonesia Stock Exchange Kris Brantas Abiprayu; Dwi Cahyaningdyah; Salsabila Nadianisa Maruto; M. Iqrar Nusa Bhakti
Management Analysis Journal Vol. 13 No. 3 (2024): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v13i3.31682

Abstract

This study explores the influence of investor attention and religious sentiment—specifically during the holy month of Ramadan—on stock returns in the Indonesian capital market. Using the Market Attention Index (MAI), derived from Google Search Volume data, we examine how elevated public focus corresponds with return anomalies across 100 stocks from both syariah-compliant (ISSI) and conventional (LQ45) indices during the 2020–2023 Ramadan periods. Regression analysis reveals a statistically significant and positive relationship between MAI and intraday stock returns, underscoring the role of behavioral attention in asset pricing. Furthermore, dummy variables for specific Ramadan days—the 10th and 25th—also show positive return effects, supporting the notion that heightened religiosity and mood uplift during spiritually significant days influence investor sentiment. These findings align with behavioral finance theories and enrich prior research on the “Ramadan Effect” and “Holy Day Effect.” The results offer practical implications for trading strategies and policy design in Muslim-majority markets. By integrating digital behavior metrics and religious calendar events, this study contributes a novel framework for understanding asset price fluctuations during culturally sensitive periods in emerging markets.
Examining Business Performance of Indonesian MSMEs: Dynamic Capabilities that Matter Ongkowijoyo, Gracia; Phandy, Lindsey Brittany; Gandakusuma, Nielsen
Management Analysis Journal Vol. 14 No. 3 (2025): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v14i3.25473

Abstract

The study aims to examine the influence of various dimensions of DC—sensing, learning, and integrating/coordination capabilities—on the business performance of Micro, small, and medium-sized enterprises (MSMEs), as well as the potential moderating effect of firm scale. MSMEs are integral to Indonesia's economic framework. However, their resilience is challenged by economic crises and the COVID-19 pandemic, which emphasized the importance of dynamic capabilities (DC) in adapting to volatile environments. Using a quantitative approach, data were collected via questionnaires from 51 Indonesian MSMEs. Findings indicate that learning and integrating/coordination capabilities significantly enhance business performance, while sensing capability does not. Firm scale shows no moderating effect, suggesting uniform strategies across micro, small, and medium enterprises. This study enhances the existing DC theory by elucidating the specific contributions of its dimensions within resource-limited environments and offers practical recommendations for MSME managers to focus on skill enhancement and operational effectiveness to achieve sustained growth.
Integrated Marketing Communication Strategy of Proposed Homecare Cleaning Product through New Product Development Process: A Case Study of PT. Siklus Refil Indonesia Syarifah Khoiriyah; Dalimunthe, Gallang Perdhana
Management Analysis Journal Vol. 14 No. 3 (2025): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v14i3.25903

Abstract

The study aims to discover a new homecare cleaner product and its marketing strategy using New Product Development (NPD) and Integrated Marketing Communication (IMC) theory. PT. Siklus Refil Indonesia, the eco-friendly retail homecare cleaning company, faces a fall in revenue due to limited product development and inefficient marketing strategy. This study uses mixed methods involving home care cleaner users. The quantitative data is from the questionnaire, and the qualitative data is from nethnography, interviews, and the VRIO and PESTLE framework. The new product is developed based on the findings on netnography, and interviews strengthened with VRIO and PESTLE framework. The marketing strategy is defined based on IMC principles and insights from interviews and questionnaires. The findings are the new product to be developed is a multipurpose cleaner. The marketing strategy involves an integrated communication approach consisting of the eight channels tailor-made for the multipurpose cleaner, which are advertising, sales promotion, online and social media marketing, event and experience, mobile marketing, public relations and publicity, direct and database marketing, and personal selling.
Determinants of Customer Revisit Intention on Cafe in East Jakarta Rahmadila Alif Madia Putri; Atik Aprianingsih
Management Analysis Journal Vol. 14 No. 3 (2025): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v14i3.26714

Abstract

The purpose of this research is to determine the influence of marketing mix 7Ps on customer revisit intention while mediating customer satisfaction as a valuable advancement contribution to cafe industry in Indonesia. The research uses quantitative methodology using online survey with questionnaire that distribute to respondents. The methods used are Multiple linear regression analysis and Importance Performance Analysis, allowing researchers to investigate the influence between relevant variables. Total valid respondents are 226 Kedai Malabar loyal customers. The sample selection used a nonprobability purposive sampling technique with customers as population, loyal customers who are aged >20 years and have visited Kedai Malabar at least twice a year as samples. The results show that product, place, price, process, people, and physical evidence positively and significantly affect customers’ revisit intention. In contrast, the promotion does not has an significant effect impact on customer satisfaction for Kedai Malabar's revisit intention. To increase customer satisfaction, an IPA analysis found that Malabar should focus on improving physical evidence, place, price, and people variables.

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