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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
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Articles 26 Documents
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Search results for , issue "Vol. 15 No. 1: March 2024" : 26 Documents clear
Family Ownership as a Moderator Variable on Board, Leverage, and Environmental Performance Haninun, Haninun; Damayanti, Tri; Rahayu, Ni Putu Widhia; Aminah, Aminah; Graisman.P, Naufal
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.21505

Abstract

Research Aims: This study aims to examine family-listed companies by determining the effects of leverage, board, and ownership on environmental performance in Indonesia.Design/Methodology/Approach: A total of 130 family-listed companies were examined using the unbalanced panel method. Board resources diversity also stimulated increased strategic opportunities in deciding the companies plans, regarding the conceptual framework prioritizing dependence theory.Research Results: The results showed that leverage and board significantly-negatively and significantly-positively impacted environmental performance, respectively. Family ownership also strengthened both impacts and transformed a negative direction into a positive effect. This strengthening was due to the important role of ownership in decision-making processes, such as the impact on external stockholders and costs related to environmental performance considered a non-financial strategic issue.Theoretical Contribution/Originality: The results obtained contribute to developing the relationship between family ownership, ecological education, expert management board, leverage, and environmental performance in Indonesian family-listed companies, specifically in uncertainty economics. Therefore, future studies should be conducted on family companies in the country, implementing the present experimental outcomes as references.Practitioners/Policy Implications: This study leads us to the belief in agency theory, where the control of shareholders largely influences management decisions and includes environmental issues. According to family business stakeholder method, the participants are the most influential actors majorly affecting decision-making, including decisions to overcome environmental problems. The large leverage observed also proves that management commonly adopts risk-averse behaviour, showing the ability to generate efficient costs and comply with the shareholder control direction.Limitations/Implications: The experimental scope was considered limited, as a detailed case account was not provided due to the inability to track environmental performance levels. Since multiple experimental aspects required subsequent evaluation, the knowledge prioritizing the thinking patterns of management and controlling shareholders about environmental issues was highly recommended.
Sectoral Herding During Global Rare Events: Evidence from the Indonesian Capital Market Hariyanto, Dedi; Brahmana, Rayenda Khresna; Wendy, Wendy
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.21601

Abstract

Research Aims: This research aims to examine the effects of increased levels of herding on abnormal returns during rare events.Design/Methodology/Approach: Time series regression including all stocks across 9 sectors in the Indonesia Stock Exchange from 1997 to 2020, totaling 5,615 observations is used. The primary model is predicated on three factors derived from Fama-French and prospect theory to incorporate herding as a primary risk factor in assessing the impact of on abnormal returns during rare events.Research Results: The results show that various events produce impacts on herding behavior across different sectors. During bearish market conditions, this behavior manifests significant negative effect leading to greater abnormal returns. Conversely, positive and significant anti-herding behavior is observed in bullish market conditions. Rare events do not necessarily induce herding behavior but may lead to anti-herding behavior.Theoretical Contribution/Originality: In this research, the variables are developed from the Efficient Market Hypothesis, Capital Asset Pricing Model, prospect theory, and market integration theory. The estimation model is grounded in prospect theory and the contribution addresses the research gaps.Practitioners/Policy Implications: The provision of insights to stakeholders in the capital market regarding the impact of rare events on financial behaviors influences investors' decision-making processes in stock investments.Research Limitations/Implications: The measurement of herding refers to Chang et al. (2000) due to the availability of aggregate data from the Indonesian Stock Exchange. Comprehensive micro-level data is not unavailable and the accessibility of complete micro-level data can be conducted. The presence of these data in the capital markets of other countries should be investigated.
Analysis of Religiosity, Trust in Leader, and Team Cohesion on Green Organizational Citizenship Behavior Mediated by Green Employee Engagement Arifin, Noor; Muafi, Muafi; Yulianto, Dwi Hery; Veisz, Adrienn
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.21620

Abstract

Research aims: This study aims to analyze the impact of religiosity, trust in leaders, and team cohesion on green organizational citizenship behavior (Green OCB) through green employee engagement.Design/methodology/Approach: The study was conducted on 315 employees of Bank Syariah Indonesia using a multiple-stage cluster sampling technique with a purposive sampling method. Data was collected through a validated and reliable questionnaire, and analyzed using the Amos SEM application for hypothesis testing. Research finding: The research shows that religiosity significantly affects green employee engagement (P = 0.000). Trust in the leader, on the other hand, has an insignificant effect on green employee engagement (P = 0.426). Additionally, team cohesion has a significant effect on green employee engagement (P = 0.000). Furthermore, religiosity and team cohesion significantly affect Green OCB, with values of P = 0.002 and P = 0.028, respectively. Trust in the leader was found to have an insignificant effect on Green OCB (P = 0.680). It is important to note that trust in the leader did not significantly affect Green OCB after Z-testing. However, green employee engagement was found to mediate the relationship between religiosity and team cohesion on Green OCB, with values of (P = 0.003) and (P = 0.012), respectively. Theoretical Contribution/originality: This research contributes to the theory regarding the relationship between religiosity and trust in leaders within the context of green employee engagement. However, it indicates that trust in leaders does not appear to influence Green OCB. Instead, the study suggests that religiosity and team cohesion may play a significant role in increasing Green OCB. Additionally, the research underscores the mediating role of green employee engagement in the relationship between religiosity, trust in leaders, team cohesion, and Green OCB, particularly among employees in Islamic banking companies. Practitioners Contribution/implications: This research provides guidance for practitioners in Islamic banking to implement business models, with a particular emphasis on the importance of reliability for employees and leaders. This emphasis stems from its significant impact on the implementation of green management within the company. Research limitation/implications: The research data relies on perceptual measures, which may not fully capture the behavior of all respondents. Future research should consider factors such as the distribution of respondents, the frequency and timing of longitudinal studies, and other relevant variables that can be integrated into the model to provide a more comprehensive understanding.
The Mediating Role of Job Satisfaction in the Relationship Between Human Resource Management Practices and Turnover Intention Hanifa, Muhammad; Widagdo, Bambang; Rumijati, Aniek
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.19059

Abstract

Research aims: This study examines the mediating role of job satisfaction among employees of a Power Generation Company in Indonesia and its relationship with compensation, training, career development, and turnover intention.Design/Methodology/Approach: This research utilized a cross-sectional survey involving 263 respondents representing all employees. The Partial Least Square Structural Equation Model (PLS-SEM) approach was employed to analyze the data, and SmartPLS was used to process multiple independent variables and test quantitative data.Research findings: The research findings indicate that compensation and career development do not have a significant direct effect on turnover intention. However, training and job satisfaction have a significant direct impact on turnover intention. The indirect relationship reveals that career development, through the mediating variable of job satisfaction, has no significant relationship with turnover intention. However, compensation and training, through the mediating variable of job satisfaction, have a significant relationship with turnover intention.Theoretical Contribution/Originality: The current study aims to expand on the existing literature by examining job satisfaction as a mediating variable between HRM practices (compensation, training, and career development) and employees' intention to leave (turnover intention).Practitioners/Policy Implications: Companies must provide satisfactory employee job satisfaction, as job satisfaction is a key mediating factor in the relationship between compensation and training that can influence turnover intention.Research Limitations/Implications: The practical implications of this study suggest that companies should strive to retain their employees by ensuring their well-being. The research findings indicate that providing employees with more training and certifications may increase their likelihood to seek opportunities at other companies. This outcome aligns with the human capital theory, as the knowledge, competence, and skills acquired by employees become inherent qualities associated with the employees themselves.
The Role of Perceived Organizational Support (POS) and Employee Satisfaction to Enhance Employee Engagement: Do Gender and Tenure Matter? Eviana, Nova
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.19529

Abstract

Research aims: The research investigated the conjecture that employee engagement is notably intensified in the presence of perceived organizational support (POS) and employee satisfaction. Additionally, the study explored the discrete impacts of the interconnections between these variables, considering gender and employee tenure. Design/Methodology/Approach: This study employed primary quantitative research methods through cross-sectional surveys. The hypotheses were tested using SEM-PLS with the assistance of Smart PLS.Research findings: The findings unveiled that POS indirectly influences employee engagement through its effect on employee satisfaction. Furthermore, employee satisfaction directly and positively contributes to heightened employee engagement. Neither gender nor tenure exhibits identifiable effects on the correlations between the constructs. It is ascertained that POS holds a higher degree of significance in cultivating employee engagement.Theoretical Contribution/Originality: The study empirically confirmed the enhanced employee engagement through POS and employee satisfaction, elucidating the mediating role of satisfaction, highlighting the significance of POS, and offering actionable managerial insights for human resource strategies.Practitioners/Policy Implications: It is recommended that managerial efforts be directed toward formulating human resource strategies that amplify POS.Research Limitations/Implications: Limited number of respondents due to the period of COVID-19 recovery.
Consumer Behaviour in Online Travel: How Does Continuous Purchase Behaviour Formed in Digital Age? Pratminingsih, Sri Astuti; Zulganef, Zulganef; Purwaningdyah, Sri Wiludjeng Sunu; Syafie, Nur Aima
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.19755

Abstract

Research aims: This study aims to understand the role of perceived ease of use, information service function, consumer expectation, and user satisfaction in determining continuous purchase behavior in online travel application users, while considers consumer experience as a moderating variable.Design/Methodology/Approach: This study is carried out using quantitative approach. The data is collected by distributing online questionnaire to users of e-travel application in West Java, Indonesia chosen using purposive sampling. The data is processed using Structural Equation Modeling with Partial Least Square (SEM PLS).Research findings: The results indicate that perceived ease of use, information service function, consumer expectation, and user satisfaction can explain customers’ continuous purchase behavior. In addition, consumer experience can moderate the relationship between user satisfaction and continuous purchase behavior, by which higher experience strengthens the relationship. Theoretical Contribution/Originality: This study contributes to enrich the understanding of how user satisfaction affects continuous purchase behavior by looking at the variables of perceived ease of use, information service function, and user expectation.Practitioners/Policy Implications: This study can be of interest to service providers, especially e-travel application, to provide a good, easy to understand services, as well as information and comfort for its users to remain loyal in using the application.Research Limitations/Implications: This study is only limited to one object, namely users of e-travel application. Future research can use different objects and consider additional variables such as review credibility and perceived enjoyment in determining continuous purchase behavior.
Analyzing the Impact of Islamic Literacy, Technology, and Experience on MSME Performance: The Role of Spirituality as a Moderating Variable Widyakto, Adhi; Souisa, Johanis; Kusumawati, Citra Andriani; Widyarti, Endang Tri
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.19859

Abstract

Research Aims: This study aims to explore the influence of Islamic financial literacy, Islamic fintech, and financial experience on the performance of Micro, Small, and Medium Enterprises (MSMEs), considering spirituality as a potential moderating variable.Design/Methodology/Approach: Employing a sample of 126 MSME owners in Semarang, this research utilizes Hair’s model of calculations. The analytical method applied is multiple regression analysis using the third version of the SmartPLS software.Research Findings: The findings indicate that Islamic financial literacy, Islamic financial technology, and financial experience have a positive and significant impact on MSME performance. However, spirituality did not significantly moderate the relationship between Islamic financial literacy, Islamic fintech, and financial experience on MSME performance.Theoretical Contribution/Originality: This study contributes to the resource-based view theory by examining how a firm’s capabilities and internal resources, conceptualized as a bundle of resources and capabilities, interact with external spiritual values to influence MSME performance. It also addresses the role of internal resources in fostering competition within firms to achieve their goals.
Determinants of Company Value: Empirical Evidence from Consumer Goods Industrial Companies in Indonesia Purnama, Maria Goreti; Yuniarti, Sari; Terdpaopong, Kanitsorn; Subiyantoro, Edi; Khouroh, Umu
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.20114

Abstract

Research Aims: Investors focus on a company's value before investing, which can benefit shareholders. This study, thus, investigates how factors like liquidity, debt, profits, growth, and investment opportunities affect a company's value, with dividend policy playing a role.Design/Methodology/Approach: This study examined companies in the consumer goods industry listed on the IDX from 2018 to 2021. The authors collected data from 71 selected companies using purposive sampling. The analysis method employed was Moderating Regression Analysis (MRA).Research Findings: The findings demonstrated that Debt to Asset Ratio (DAR), Return on Assets (ROA), and Investment Opportunity Set (IOS) strongly affected Price to Book Value (PBV) positively. However, Current Ratio (CR) and Growth did not significantly affect PBV. Additionally, the Dividend Payout Ratio (DPR) did not influence the relationship between CR, DAR, and Growth with PBV. Also, it did moderate the relationship between ROA and IOS with PBV.Theoretical Contribution/Originality: The research findings contribute to our understanding of the factors that impact the market value of companies in the consumer goods industry listed on the IDX.Practitioners/Policy Implications: It is crucial to examine specific variables that have a significant impact on PBV, while other variables may not play a vital role. This can help practitioners, academics, and investors make more informed decisions based on in-depth analysis of company performance and value.Research Limitations/Implications: The limitations include limited panel data, a single industry focus, the absence of supportive data on individual company investment variations, and no consideration of industry risk, market policies, or investor preferences.
Intention to Buy Halal Cosmetic Products by Young Adult Muslim Iriani, Sri Setyo; Sanaji, Sanaji; Sayuti, Nazura Mohamed; Arshad, Azlin Syafinaz
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.20207

Abstract

Research aims: This paper aims to determine and analyze the influence of personal attitudes, subjective norms, and perceptions of controlling behavior of young adult Muslims on purchase intention of halal cosmetic products and factors that have the most significant influence on purchase intentionDesign/Methodology/Approach: The research approach is quantitative, the population in this study is an infinite number of Indonesian young adult Muslim women, using convenience and purposive sampling as a sampling technique with 120 respondents. Data collection technique using an online questionnaire via Google formResearch findings: This research found that subjective norms and perceived behavioral control influence purchase intention on halal cosmetic products among young adult Muslim women. This research also found that personal attitude did not influence the purchase intention of halal cosmetic products among young adult Muslim women.Theoretical Contribution/Originality: This study explores awareness about halal cosmetic products in addition to contributing to the literaturePractitioners/Policy Implications: This research implies that cosmetic manufacturers need to apply a halal label to their cosmetics to enter the market of young adult Muslim womenResearch Limitations/Implications: This study has several limitations, including the dissemination of online questionnaires has not been able to capture respondents optimally; and have not been able to do in-depth interviews to explore why the variable has an effect or not
Psychological Empowerment and Innovative Work Behavior: The Role of Transformational Leadership as Moderating Variable Aristana, I Nengah; Wibawa, I Wayan Sucipta; Wisnawa, I Made Bayu
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.20274

Abstract

Research aims: The objective of this research is to explore the effect of psychological empowerment on innovative work behavior with transformational leadership as a moderator.Design/Methodology/Approach: This research was designed using a quantitative approach where data was collected using questionnaires distributed to 190 employees of export SMEs in Bali. The gathered data was examined using Smart PLS 3.2.9 software.Research findings: The research found that psychological empowerment and its dimensions positively affected innovative work behavior. In addition, transformational leadership fully moderated the link between psychological empowerment and innovative work behavior. The limitation of the research indicated bias due to self-assessment reports. Meanwhile, the practical implications contribute to expanding understanding of the role of transformational leadership as a moderator. Thus, leaders have a reference in policy making.Theoretical Contribution/Originality: The theoretical contribution of this research contributes to the knowledge of on innovative work behavior by exploring psychological empowerment.Practitioners/Policy Implications: Practical implications contributed to expanding understanding of the moderating role of transformational leadership. Hence, leaders have a reference in policy making.Research Limitations/Implications: The sample used is still limited to the export SME sectors in Bali. This research uses a causality approach. Thus, the data reported is self-assessment.

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