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Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang
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Management Analysis Journal
ISSN : 22526552     EISSN : 25021451     DOI : https://doi.org/10.15294/maj
Core Subject : Economy,
Management Analysis Journal (MAJ), provides a forum for the full range of scholarly study of the language and literature.
Articles 49 Documents
Exploring Psychological Determinants in Using Jasa Titip with an Approach of Theory of Planned Behavior and Perceived Trust Sitanggang, Rosalina; Fachira, Ira
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.v14i3.26818

Abstract

The purpose of this study is to explore Theory Planned Behavior with Perceived Trust for analyzing the behavior of consumers in the purchase decision making process of exclusive and inclusive products using jasa titip. The preliminary study determined that this service maintains the purchase of cheaper luxury products even though the local product has the same advantages. Following that, this study uses a quantitative method approach with Partial Least Square Structural Equation Modeling for the analysis data process to know about the perspective from the user of jasa titip. The result of this study confirms that attitude, subjective norms, perceived behavioral control, and perceived trust is a strong determiner from consumers while making a decision in purchasing exclusive products through the jasa titip. Thus, this study was interpreted as a theoretically and empirically studied in a new online shopping method on social media.
The Impact of Corporate Funding Policies on Firm Value: A Comparative Study of Debt, Profit, and Free Cash Flow in Transportation and Logistics Companies Hadyan, Deni; P Sitorus, Alvin David; Arifin
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.v14i3.28740

Abstract

This study addressed the critical role of Indonesia's transportation and logistics sector in national economic growth, which faced significant pressure from COVID-19 impacts (15.04% decline) and state expenditure cuts (IDR 306.7 trillion). Prior research revealed inconsistent findings on how funding policies affect company value, highlighting a key knowledge gap. The study examined the comparative impact of company debt, profit, and free cash flow on firm value within this sector. Using quantitative methods, financial data from 19 Indonesian-listed transportation/logistics companies (2018–2023, n = 104 observations) were analyzed via multiple linear regression. Results indicated that debt significantly reduced firm value (β = -0.166, p = 0.006), while profit (β = 0.172, p = 0.042) and free cash flow (β = 0.042, p = 0.009) increased it. These findings suggest that optimizing profit retention and cash flow management, while minimizing excessive debt, enhances company resilience and investor appeal.
Analysis of the Influence of Work Engagement and Work-Life Balance on Employee Productivity through Employee Well-Being in the Service Industry with a Hybrid Work Environment Alamudi, Abdul Kadir
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.v14i3.31402

Abstract

This research aims to analyze the effects of work engagement and work-life balance on employee productivity, with employee well-being as a mediating variable. The background of this research is based on changes in work models that now widely adopt a hybrid work system, especially in the service industry. This study uses a quantitative approach with an explanatory research design. A total of 400 respondents working in a hybrid manner in the service industry in the Surabaya area were selected using the Lemeshow method. Data were collected through questionnaires and analyzed using Structural Equation Modeling (SEM) based on SmartPLS. The results show that work engagement has a positive and significant impact on work productivity and employee well-being. Work-life balance does not have a significant effect on work productivity, but it has a significant effect on employee well-being. Employee well-being has a significant positive impact on work productivity and serves as a significant mediating variable between work engagement and work-life balance on productivity. This study suggests the importance of improving employee well-being as a way to enhance productivity in a hybrid work system.
The Effect of Self Efficacy and Emotional Intelligence on Employee Performance through Work Engagement M. Jelvin Andrea Alza; Slamet Widodo
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.v14i3.32013

Abstract

The Indonesian banking industry is characterized by intense competition, requiring every bank to optimize employee performance to maintain customer trust, reputation, and long-term sustainability. Previous studies have highlighted the role of psychological factors in enhancing employee outcomes, yet the interplay between emotional intelligence, self-efficacy, and work engagement in shaping performance remains underexplored, particularly in regional banks. This study addresses this research gap by examining the effects of emotional intelligence and self-efficacy on employee performance at PT Bank Bengkulu, with work engagement as a mediating variable. This research employed a quantitative, explanatory approach. The population comprised 864 employees across PT Bank Bengkulu’s branch network, from which 274 employees were selected using cluster random sampling. Data were gathered through structured questionnaires and analyzed using the covariance-based structural equation modeling (CB-SEM) approach. The outer model evaluated construct validity and reliability, while the inner model tested hypotheses regarding direct and indirect effects. The findings revealed that both emotional intelligence and self-efficacy positively and significantly affect employee performance, and each also directly enhances work engagement. However, work engagement itself showed no significant impact on performance, nor did it mediate the relationships between the two psychological factors and performance. The results imply that internal psychological strengths particularly emotional intelligence and self-efficacyserve as direct drivers of employee effectiveness, independent of engagement.
The Influence of CSR, Environmental Investment, Environmental Performance, Environmental Disclosure and Financial Performance (Empirical Study on Manufacturing Companies Registered on the IDX) Siregar, Nella Astria; Zoraya, Intan
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.v14i3.32015

Abstract

This study aims to evaluate the influence of Corporate Social Responsibility (CSR), environmental investment, environmental performance, and environmental disclosure on the financial performance of companies. The research is motivated by the crucial role of sustainability practices and corporate social responsibility in supporting financial outcomes, particularly in the manufacturing sector, which has a significant environmental impact. A quantitative approach was employed using multiple linear regression analysis. The sample consists of manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2019–2023, with a total of 195 observations. The findings reveal that, simultaneously, all four independent variables significantly affect financial performance. Partially, CSR and environmental performance make a significant positive contribution to enhancing financial performance, while environmental investment shows a negative effect and environmental disclosure has a significant negative impact on financial performance. The implication of this study is that companies need to carefully assess the effectiveness of their environmental investment allocation and disclosure strategies to ensure that they create added value for financial performance without reducing their commitment to sustainability.
Enhancing Consumer Loyalty through Product Quality and Word of Mouth in MSME's Istanti, Fredianaika; Maftukhah, Ida; Azizah, Zainab; Kusuma, Nadia Ingrida
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.v14i3.32365

Abstract

MSMEs contribute to labor absorption and drive local economic growth. This study aims to analyze the role of product quality and word of mouth on consumer loyalty through consumer satisfaction as an intervening variable among MSME product users in Semarang City. This research is motivated by the important role of MSMEs in employment and their contribution to driving local economic growth. Therefore, understanding the factors influencing consumer loyalty is crucial for maintaining the sustainability of MSME businesses. The approach used in this study is quantitative with an explanatory research method. Data analysis was conducted using SEM (Structural Equation Modeling) based on PLS (Partial Least Squares) to examine the relationships between the variables studied. The study population was MSME product users in Semarang City. The sampling technique used was purposive sampling with 200 respondents. Data collection was conducted through questionnaires. The results show that product quality has a positive and significant effect on consumer loyalty. Word of mouth has a positive and significant effect on consumer loyalty. Consumer satisfaction has a positive and significant effect on consumer loyalty. Product quality has a positive and significant effect on consumer satisfaction. Word of mouth has a positive and significant effect on consumer satisfaction. Furthermore, customer satisfaction has been shown to mediate the influence of product quality and word of mouth on customer loyalty. The implications of this research indicate that improving product quality and optimizing word of mouth, both directly and through increased customer satisfaction, can be an effective strategy for MSMEs to build and maintain customer loyalty in Semarang City. These findings are expected to provide a basis for MSMEs and policymakers to design programs to improve product quality and strengthen word-of-mouth promotion in a more targeted manner.
Driving Green Product Purchase Intention through the Elaboration Likelihood Model: The Roles of Para-Social Interaction and Information Quality in Live-Streaming E-Commerce Prananta, Widya; Prihandono, Dorojatun; Wiratama, Bayu; Febriatmoko, Bogy; Dwi Praatmana, Nanang
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.v14i3.33458

Abstract

This study examines how Information Quality and Para-Social Interaction influence Green Product Purchase Intention in live-streaming e-commerce using the Elaboration Likelihood Model (ELM). Driven by rising sustainable consumption trends, it explores their impact through Subjective Product Knowledge as a mediator, extending ELM by integrating cognitive and affective cues in Indonesia’s growing digital market. Data were collected from 140 young consumers (aged 17–37) in Semarang, Indonesia, who engage in live-streaming e-commerce. The analysis tested hypotheses, revealing that Information Quality enhances Subjective Product Knowledge, which drives purchase intention, while Para-Social Interaction directly and indirectly affects both. Subjective Product Knowledge mediates these relationships. This offers a novel application of ELM in sustainable consumer behavior in de-veloping countries. Practically, businesses can use high-quality information and trusted streamers to boost green product sales in global markets.
Cognitive Drivers of Investment Behavior: Analyzing the Mediation-Moderation Model on Herding Behavior among Gen-Z Investors Siti Aisjah; Wildan Fadhila; Cicik Retno Wati; Atim Djazuli; Sri Palupi Prabandari
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.v14i3.33498

Abstract

This study examined the influence of herding behavior on investment behavior with risk tolerance as a mediator and financial literacy as a moderator. Since Investment participation among young generations in Indonesia has grown significantly, yet behavioral biases such as herding continue to undermine rational decision-making Previous studies reported inconsistent findings regarding the direct impact of herding on investment behavior, leaving an important research gap. A quantitative approach was employed using survey data from 386 Gen Z investors in East Java, analyzed with SEM-PLS. The results confirmed that herding significantly affected both investment behavior and risk tolerance, while risk tolerance strongly influenced investment behavior and partially mediated the herding–investment link. Moreover, financial literacy strengthened the effect of herding on investment behavior. The findings imply that improving financial literacy and strengthening risk management education are essential for fostering rational investment decisions. Future research should expand the demographic scope and additional psychological and social factors to the model.
Drivers of Employee Performance: The Role of Institutional Support in Elevating Career Growth Mursidah, Siti; Khoiruddin, Moh; Septantri, Lidiadni
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.v14i3.30388

Abstract

This study aims to analyze the relationship between scientific publication productivity and the academic promotion of lecturers. Scientific publication productivity is a crucial indicator of academic performance, making it important to explore the factors that influence lecturers’ publication productivity to design more effective strategies for improving the quality and quantity of publications. This quantitative study involved 112 lecturers (15% of those promoted in the last five years), using surveys and secondary institutional data. Regression analysis was used to examine the effect of scientific publication productivity on academic promotion, and the data were analyzed using descriptive and statistical methods. The results show that institutional support is the strongest factor influencing academic promotion. Institutional support, research experience, and publication quality significantly affect scientific publication productivity. Moreover, publication productivity mediates the relationship between institutional support and publication quality with academic promotion. These findings imply that improving academic promotion at the local level requires two key strategies: strengthening institutional support and enhancing scientific publication productivity.