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<![CDATA[The Indirect Impact of Busy Directors on the Relationship of Family Structure and Cash Flow Sensitivity of Cash (Empirical Research in Indonesia’s Manufacturing Sector 2013-2017) ]]>
<![CDATA[Santoso, Wahyu]]>;
<![CDATA[Utama, Cynthia Afriani]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mb.v12i1.9344
<![CDATA[Research aims: This research aimed to determine the impact of family structure on the cash flow sensitivity of cash (CFSC) in the manufacturing sector. It also investigates the indirect impact of busy directors as a moderating effect.Design/Methodology/Approach: Based on a sample of Indonesia’s manufacturing companies from 2013 to 2017, the researcher uses GLS regression models on this panel data calculated with robustness fit test at the firm’s level.Research findings: It indicated that family structure has a impact positively on cash flow sensitivity of cash and statistically significant. Meanwhile, the indirect impact of busy directors found to have a impact negatively and weakened on the relationship of family structure and CFSC, it also indiciated that quality of busy directors is an tool of corporate governance that is effectively to monitor of every family firm’s decisions.Theoretical contribution: This article enriches previous literature by justifying the impact of busy directors on the relation between every each of family’s firm decision and CFSC. Furthermore, it showed us a metric for agency problems that is the sensitivity of cash to corporate cash flows.Implication policy: Based on POJK regulations, the context of busy directors in this research refers to the roles and duties of the Board of Commissioners (BOC) which concurrently hold positions for other public companies.Research Limitation/Implication: The implications suggest that almost most of Indonesian family corporation are tend to expropriate minority by extracting rents through coporate cash flow sensitivity of cash behavior. ]]>
<![CDATA[Leader-Member Exchange Paradigm in RSUD Dr. Saiful Anwar Malang ]]>
<![CDATA[Sutrisno, Timotius F.C.W]]>;
<![CDATA[Teofilus, Teofilus]]>;
<![CDATA[Silaswara, Diana]]>;
<![CDATA[Rusmi, Nanduta Sito]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mabis.v12i1.9041
<![CDATA[Research aims: The study was conducted to discuss the phenomenon of destructive leadership, cynicism, and employee performance that occurred at Dr. Saiful Anwar Malang Hospital. The purpose of this study is to look at the effect of destructive leadership on employee performance, the effect of cynicism on employee performance, and the moderation effect of cynicism on destructive leadership and employee performance at Dr. Saiful Anwar Malang Hospital.Design/Methodology/Approach: This study employed a partial least square (PLS) multivariate statistical technique. Sampling used a saturated sampling method, and the respondents were all employees of the Finance Department from 50 hospitals. The Likert scale was utilized as a measurement tool for the questionnaire.Research findings: This study's results indicated that the destructive leadership variable positively and significantly influenced the employee performance variable. Based on the questionnaire results, it was known that Dr. Saiful Anwar Malang Hospital’s employee performance had a positive nature in responding to the existence of destructive leadership so that performance was maintained.Theoretical contribution/Originality: Companies can develop strategies to anticipate destructive leadership and weaken cynicism because both attitudes can impact employee performance.Practitioner/Policy implication: This research is expected to provide insight into leaders’ and employees' behavior regarding the phenomenon of destructive leadership and cynicism to improve employee performance because companies with a positive culture can undoubtedly make employees comfortable so that they will do work optimally.Research limitation/Implication: This research’s implication shows that the employees’ behavior in Dr. Saiful Anwar Malang Hospital was very good because employees could show positive attitudes even with pressures, such as destructive leadership and cynicism.]]>
<![CDATA[Mobile Payment Products in Indonesia: Is it a Lifestyle or a Need? ]]>
<![CDATA[Setiobudi, Auditia]]>;
<![CDATA[Sudyasjayanti, Christina]]>;
<![CDATA[Singgih, Kevin Julianto]]>;
<![CDATA[Gadi, Aiman Fauzi]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mb.v12i1.9440
<![CDATA[Research aims: This study aims to explore consumers’ preferences and perceptions of the use of mobile payments in Indonesia.Design/Methodology/Approach: This study used a comparison of Cronbach's Alpha and Cronbach’s Alpha if Item Deleted to find items preferred by mobile payment users. Factor analysis was employed to get consumers' perceptions of using mobile payment.Research findings: The results of this study found that consumer preferences for the use of mobile payments were compatible with their needs, helped complete work/needs, were used by the social environment, were easy to use, and made consumers happy. Meanwhile, consumers’ perceptions of mobile payment were formed from three factors: perceived ease of use, intention to use mobile payment, and mobile payment self-efficacy.Theoretical Contribution/Originality: This study examines the use of mobile payments in Indonesia further.Practitioners/Policy Implications: Mobile payments are not only a lifestyle because the products’ benefits are increasingly numerous and varied.Research Limitations/Implications: This research was only conducted in Java.]]>
<![CDATA[Family Ownership Structure, Independent Directors, and Independent Commissioners: Effects on Leverage ]]>
<![CDATA[Yolanda, Yoke]]>;
<![CDATA[Utama, Cynthia Afriani]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mabis.v12i1.9525
<![CDATA[Research aims: The purpose of this research was to examine the direct relationship between family ownership structure and leverage as well as the indirect impact of independent commissioners and independent directors on the relationship between family ownership structure and leverage.Design/Methodology/Approach: This research applied a purposive sampling technique that resulted in 22 Indonesian manufacturing public firms operating from 2010 to 2018 as the research sample. The panel data were collected from Thomson Reuters, and family ownership data were manually collected from company annual reports. This research employed multiple regression analysis with four models.Research findings: The results indicated that family ownership structure was negatively significant to leverage. The independent director was not proven to strengthen the relationship between family ownership structure and leverage but rather was partially proven to do so yet the independent commissioner could not strengthen the relationship between family ownership structure and leverage.Theoretical contribution/ Originality: This research was contributed to develop the relationship between ownership structure in family companies by involving independent commissioners and independent directors.Practitioner/Policy implication: This research’s result can help companies make financing decisions and mitigate agency problems.Research limitation/Implication: The limitations of this research were the sample only focused on manufacturing public firms and Indonesia Stock Exchange has implemented regulations to eliminate the rule requiring each company to have an independent director, which became effective as of December 28, 2018.]]>
<![CDATA[The Determinants of Meat Import Performance in ASEAN Countries ]]>
<![CDATA[Putri, Adelia Erlita]]>;
<![CDATA[Sulistiyani, Endang]]>;
<![CDATA[Indrasari, Febrina]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mb.v12i1.10636
<![CDATA[Research aims: The objective of this research is to analyze the effect of Gross Domestic Product, exchange rate, and distance on the meat import performance of ASEAN countries both partially and simultaneously.Design/Methodology/Approach: Purposive sampling method was adopted to determine the research sample. The data used were the annual secondary data of ASEAN countries in the period of 2012-2018, collected from trademap.org, World Bank, and macmap.org. Multiple Linear Regression was employed to analyze the data.Research findings: The regression analysis results showed that GDP and exchange rate did not affect meat import performance. Meanwhile, distance had a partially significant negative effect on meat import. However, GDP, exchange rate, and distance had a significant effect on meat imports simultaneously.Theoretical contribution: Previous researchers have used economic distance in their study to see its impact on imports. Nevertheless, there has not been much research done using geographical distance as an antecedent variable. The distant market has to incur large-fixed costs, which can only be supported if the export value is large. The negative impact of distance on imported meat must be taken seriously. AANZFTA supposedly gives a contribution to the member countries thoroughly to export goods and services. It is to increase per capita income so that it can be used to improve the transportation system.Implication policy: ASEAN officials are suggested to encourage the member countries to provide better transportation facilities to eliminate geographical distance barriers and further support SMEs and other business actors' engagement. Due to the limitation of this research, it is suggested that further research should consider using other commodities to measure the import performance.]]>
<![CDATA[How Multidimensional Approach of Entrepreneurial Orientation (EO) Effect Firm Performance: A Critical Review ]]>
<![CDATA[Diandra, Didip]]>;
<![CDATA[Azmy, Ahmad]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mabis.v12i1.9743
<![CDATA[Research aims: This research aims to have a better understanding of relationship between EO and firm performance, a critical review of multidimensional approach to EO-firm performance is conducted in this paper.Design/Methodology/Approach: This is a qualitative research method which follow rigor of literature review and matrix review process from the selected papers. This paper aims to synthesize, evaluate the review, and then represent the dimension of EO on firm performance from multidimensional approach.Research findings: This study advances integrative framework to represent EO dimensions which explicates some pathways for entrepreneurs to implement EO on their business organization, else, in order to elevate sustainable growth. Also, this study concludes the most effective EO recipes for firm performance.Theoretical contribution/ Originality: This study does not only discuss the importance of EO in firm performance but also describe on how firms able to attain best performance in uncertain condition. The author stated innovativeness and competitive aggressiveness as the best EO recipes for enhancing firm performance.Practitioner/Policy implication: This study gives beneficial information to entrepreneurs about EO dimensions for enhancing firm performance.Research limitation/Implication: The study is limited to ten selected papers that confirms the application of EO dimensions on firm performance. Future research should explore more factors that explain EO-Firm relationship]]>
<![CDATA[The Role of Memorable Tourism Experiences in the Relation between City Image and Visitor Engagement Toward Re-Visit Intention to Yogyakarta City ]]>
<![CDATA[Ahsanah, Ulfah]]>;
<![CDATA[Artanti, Yessy]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mabis.v12i1.9138
<![CDATA[Research Aims: The purpose of this paper is to analyze and discuss the influence of city image and visitor engagement on re-visit intention through memorable tourism experiences as a mediation variable.Design/Methodology/Approach: The research sampling techniques used was nonprobability sampling by judgmental sampling methods. The respondents involved 220 visitors who had visited Yogyakarta city two times in the last two years. Path analysis was employed to analyze the dataResearch Findings: The results showed that visitor engagement had no significant impact on re-visit intention, while city image and memorable tourism experiences significantly affected re-visit intention. Similarly, city image and visitor engagement significantly influenced memorable tourism experiences.Theoritical Contribution/ Originality: The empirical results of this study provide tenable evidence that the proposed Path analyse designed to consider city image visitor engagement, memorable tourism experience, and revisit intention simultaneously is acceptable, although the previous researchers have not explained the relationship between variables as a wholePractitioner/Policy Implication: The results of this study indicate that the city of Yogyakarta is able to sell and market the image of the city and its tourism performance related to culture well to tourists, so that tourists have long-term memorable memories related to the city of Yogyakarta, especially women aged 15-30 years, even though based on the research results there is no emotional attachment to tourists when traveling to Yogyakarta.Research Limitation/Implication: In conducting this research, the researchers have limitations in data retrieval due to a COVID-19 outbreak that made many tourists not visiting tourist destinations, resulted in tourism-related groups even quieter and online questionnaires could not spread properly.]]>
<![CDATA[Non-Mutually Exclusive Trade-off and Pecking Order Theories: A Study in Indonesia ]]>
<![CDATA[Pamungkas, Wihandaru Sotya]]>;
<![CDATA[Surwanti, Arni]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mb.v12i1.9542
<![CDATA[Research aim: This study aimed to strengthen empirical evidence that the trade-off (TOT) and pecking order (POT) theories in Indonesia are non-mutually exclusive.Design/methodology/approach: This study employed a sample of 636 manufacturing companies from 2014 to 2018.Research finding: The results revealed that companies in Indonesia used a Capital Structure consistent (CS) with the TOT and POT, or in other words, the TOT and POT theories are non-mutually exclusive.Theoretical contribution/originality: This study is different from previous research on data analysis strengthened by separating underleveraged and overleveraged companies.Practitioner/Policy implication: CS in Indonesia is following the TOT if it is underleveraged and according to POT if it is overleveraged.Research limitation/implication: This study has the limitation of only using a sample of manufacturing companies in Indonesia. Subsequent research can provide comprehensive results by increasing the sample of all companies excludes the financial sector.]]>
<![CDATA[The Phenomenon of Dividend Announcement on Stock Abnormal Return (Case in ASEAN Countries) ]]>
<![CDATA[Hariyanto, Ikka Tiaraintan]]>;
<![CDATA[Murhadi, Werner Ria]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/mabis.v12i1.9001
<![CDATA[Research aims: to examine the existence of stock’s abnormal return after dividend announcement activity.Design/methodology/approach: event study with 1.330 samples of dividend announcement in ASEAN countries during 2018. The research period was 21 days around the dividend announcement’s date.Research findings: this analysis's results agreed with the dividend signaling theory hypotheses, where the increase, decrease, or constant dividends could be an informative aspect for investors. Theoritical contribution/originality: it was shown by the presence of a positive abnormal return between an increase and a constant dividend, while a negative abnormal return between decrease dividends.Practitioner/policy implication: in the ASEAN capital market, it could be concluded that the change of dividend nominal would signal the firm’s prospect.Research limitation/implication: this research used the earliest dividend announcement before revision. Suggestions for further research are to pay attention to announcements of changes in dividend distribution dates and nominal revision, whether they contain information for investors, which will affect stock price movements.]]>
<![CDATA[The Indirect Impact of Busy Directors on the Relationship of Family Structure and Cash Flow Sensitivity of Cash (Empirical Research in Indonesia’s Manufacturing Sector 2013-2017) ]]>
<![CDATA[Santoso, Wahyu]]>;
<![CDATA[Utama, Cynthia Afriani]]>
<![CDATA[ Jurnal Manajemen Bisnis Vol 12, No 1: March 2021 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
Show Abstract
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DOI: 10.18196/mb.v12i1.9344
<![CDATA[Research aims: This research aimed to determine the impact of family structure on the cash flow sensitivity of cash (CFSC) in the manufacturing sector. It also investigates the indirect impact of busy directors as a moderating effect.Design/Methodology/Approach: Based on a sample of Indonesia’s manufacturing companies from 2013 to 2017, the researcher uses GLS regression models on this panel data calculated with robustness fit test at the firm’s level.Research findings: It indicated that family structure has a impact positively on cash flow sensitivity of cash and statistically significant. Meanwhile, the indirect impact of busy directors found to have a impact negatively and weakened on the relationship of family structure and CFSC, it also indiciated that quality of busy directors is an tool of corporate governance that is effectively to monitor of every family firm’s decisions.Theoretical contribution: This article enriches previous literature by justifying the impact of busy directors on the relation between every each of family’s firm decision and CFSC. Furthermore, it showed us a metric for agency problems that is the sensitivity of cash to corporate cash flows.Implication policy: Based on POJK regulations, the context of busy directors in this research refers to the roles and duties of the Board of Commissioners (BOC) which concurrently hold positions for other public companies.Research Limitation/Implication: The implications suggest that almost most of Indonesian family corporation are tend to expropriate minority by extracting rents through coporate cash flow sensitivity of cash behavior. ]]>
