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INDONESIA
Jurnal Manajemen Bisnis
Published by Universitas Muhammadiyah Yogyakarta
ISSN : 20868200     EISSN : 26226308     DOI : 10.18196/mb
Core Subject : Economy,
Economics, Econometrics & Finance
Jurnal Manajemen Bisnis is a bilingual English peer-reviewed journal published twice a year (in March and September) by Universitas Muhammadiyah Yogyakarta in Collaboration with the Association of Management Department of Muhammadiyah Universities (APSMA PTM). Since its first issued in March 2010, Journal of Management Business has been aimed at facilitating a better comprehension of research-based management business sciences among academicians and researchers and thus to give a positive contribution and influence on the world of management business sciences
Arjuna Subject : -
Articles 6 Documents
 1 
Search results for , issue "Vol 12, No 1: March 2021" : 6 Documents clear
Non-Mutually Exclusive Trade-off and Pecking Order Theories: A Study in Indonesia Pamungkas, Wihandaru Sotya; Surwanti, Arni
Jurnal Manajemen Bisnis Vol 12, No 1: March 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v12i1.9542

Abstract

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.
The Phenomenon of Dividend Announcement on Stock Abnormal Return (Case in ASEAN Countries) Hariyanto, Ikka Tiaraintan; Murhadi, Werner Ria
Jurnal Manajemen Bisnis Vol 12, No 1: March 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mabis.v12i1.9001

Abstract

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.
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) Santoso, Wahyu; Utama, Cynthia Afriani
Jurnal Manajemen Bisnis Vol 12, No 1: March 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v12i1.9344

Abstract

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. 
Leader-Member Exchange Paradigm in RSUD Dr. Saiful Anwar Malang Sutrisno, Timotius F.C.W; Teofilus, Teofilus; Silaswara, Diana; Rusmi, Nanduta Sito
Jurnal Manajemen Bisnis Vol 12, No 1: March 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mabis.v12i1.9041

Abstract

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.
Mobile Payment Products in Indonesia: Is it a Lifestyle or a Need? Setiobudi, Auditia; Sudyasjayanti, Christina; Singgih, Kevin Julianto; Gadi, Aiman Fauzi
Jurnal Manajemen Bisnis Vol 12, No 1: March 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v12i1.9440

Abstract

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.
Family Ownership Structure, Independent Directors, and Independent Commissioners: Effects on Leverage Yolanda, Yoke; Utama, Cynthia Afriani
Jurnal Manajemen Bisnis Vol 12, No 1: March 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mabis.v12i1.9525

Abstract

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.

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