Jurnal Siasat Bisnis
Jurnal Siasat Bisnis (JSB) is a peer review journal published twice a year (January and July) by Management Development Centre (MDC)-Department of Management, Faculty of Economics, Universitas Islam Indonesia. JSB) addresses the broad area of management science and its applications in industry and business. It is particularly receptive to research relevant to the practice of management within the emerging regions and its effects beyond. It covers studies on how management work is done (descriptive) and/or should be done (normative) in diverse organisational forms, either in profit or non-profit firms, private or public sector institutions, or formal or informal social networks. We welcome qualitative studies with high-quality, rigorous methods, and strong impact on the field. Topics covered include, but not strictly limited to: 1. Business and management strategy 2. Marketing management 3. Operations management 4. Computing and technology management 5. Finance and investment management 6. Innovation and knowledge-based management 7. Entrepreneurship 8. Organisational behaviour and people management 9. Corporate social responsibility 10. Islamic business and management
Articles
375 Documents
<![CDATA[Enhancing employee retention in the education sector: The role of training and satisfaction ]]>
<![CDATA[Ni Kadek Suryani]]>;
<![CDATA[Gede Santanu]]>;
<![CDATA[Ni Ketut Karwini]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 27, NO 2 (2023) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol27.iss2.art6
<![CDATA[Purpose – This paper aims to examine the factors that influence employee retention and turnover in the education business sector. Design/methodology/approach This research was conducted at private university in Bali, Indonesia. This study also include 115 lecturers and academic staff respondents. The data were collected by online questionnaire with a Likert scale of 5 and it was processed through the structural equation modelling-based partial least squares. Findings – This study found that training is positively related with job satisfaction and employee retention, and negatively affects employee turnover. Research limitations – This study is unable to generalize the issue due to the data collection that just from a single university, further studies may expand to cover additional demographics and industries for resulting more helpful and comprehensive results. Practical implications – This study gives practice a crucial contribution as it provides valuable guidance on how universities develop and retain talent. Providing regular training companies can retain employees. Originality/value – This result answers the research hypothesis and stated that the most crucial factor in determining the employees leaving is job satisfaction.]]>
<![CDATA[Unveiling the hidden power: How ESG enhanced Indonesian companies' financial flexibility ]]>
<![CDATA[Ayudya Shinta Yunica]]>;
<![CDATA[Rofikoh Rokhim]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 27, NO 2 (2023) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol27.iss2.art4
<![CDATA[Purpose – The company’s investors and lenders increasingly see that ESG is an important aspect to implement and disclose that can determine their investment or lending decision. This decision can impact the firm's capital inflow and financing capability, which can affect the company's financial flexibility. This study aims to show the effect of ESG on financial flexibility and the mediating role of financial constraints. Design/methodology/approach – This study used companies listed on the Indonesia Stock Exchange from 2015 to 2021 as a sample. The final sample included 233 unbalanced panel data points from 48 listed firms. Path analysis and Sobel test are used to test the mediating role of financial constraint. Findings – The results revealed a notable positive influence of ESG performance on financial flexibility. However, both the path analysis and Sobel test findings indicated that financing constraints were unsuccessful in mediating the relationship between a company's ESG performance and financial flexibility, as the direct effect remained stronger. Research limitations/implications – This study only use enterprises from Indonesia as samples. Secondly, this study applied conventional methodologies commonly used in the existing literature to quantify variables. Third, this study relied on Refinitive ESG rating data and did not compare the ESG ratings from multiple institutions. Practical implications – This research's findings prove to company management that adopting ESG practices in Indonesia can positively influence cash flow and financial flexibility. As a result, it incentivizes companies to be more open to voluntarily disclosing ESG-related information. Originality/value – Little research has discussed whether ESG affects financial constraints and financial flexibility in Indonesia. This study also studies the differences in the effect of ESG performance on financial flexibility directly and indirectly through financial constraint as a mediator, which has not been covered in previous studies.]]>
<![CDATA[Customer satisfaction as a mediator between service quality and customer loyalty: a case study of Bank Central Asia ]]>
<![CDATA[Cleming Tedjokusumo]]>;
<![CDATA[Werner R. Murhadi]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 27, NO 2 (2023) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol27.iss2.art3
<![CDATA[Purpose – This study aims to examine the effect of service quality on customer satisfaction and the impact of customer satisfaction on customer loyalty among banking service users in Indonesia. Design/methodology/approach – The population of this study consists of customers aged 18 years and above who use the mobile banking service provided by Bank Central Asia, one of the largest banking companies in Indonesia in terms of market capitalization. Purposive sampling was used to obtain a sample of 194 respondents who met the research criteria. Findings – The results of this study indicate that the reliability, customer service and support, and responsiveness variables have a significant positive influence on customer satisfaction, while the privacy and security variable was found to have no significant impact on customer satisfaction. Additionally, customer satisfaction was found to have a significant positive effect on customer loyalty. Research limitations/implications – The data for this study primarily came from East Java, Indonesia, highlighting the need for future research using longitudinal data to investigate the causal relationships between variables. Practical implications – The findings of this study can provide valuable insights into the influence of electronic service quality on customer loyalty in the Indonesian banking industry. It offers banks a deeper understanding of consumer behavior and the crucial satisfaction factors that drive long-term decision-making in banking services. Originality/value – This paper offers novelty by addressing the digitalization trend and competitive challenges faced by banking service providers in achieving customer satisfaction within the digital economic ecosystem. It specifically focuses on customers of Bank Central Asia, a leading banking company in Indonesia. The value of this paper lies in its insights for banking professionals, researchers, and policymakers in navigating the digital landscape and enhancing customer-centric digital banking services.]]>
<![CDATA[Using interpretive structural modelling and quality cost model to solve project completion delay in shipyard case study in PT X ]]>
<![CDATA[Ngurah Ayu Happy Susilawati]]>;
<![CDATA[Desi Adhariani]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 27, NO 2 (2023) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol27.iss2.art2
<![CDATA[Purpose – This research proposes an alternative method to solve completion delay issue and optimized the strategy using ISM technical method and Quality Cost Model application. Design/methodology/approach – Data was acquired from 120 questions from company key persons that involved in project for last 5 years. The instruments processed using ISM analysis to measure the relationship among causes, then using Quality Cost Model to solve. Findings – This research shows that factors of late payment from client, delays in bank credit processing, bad weather, and design changes by owners are the root causes of delays. Further analysis using the Theory of Constraint (TOC) shows that financial constraint issues influence the decreased throughput and increase operating cost. Further management use five sequential steps to improve the management and P-A-F models as one of strategic cost management tools applied to the root causes to determine the optimum cost strategy to solve the problem. Research limitations/implications – This research was conducted using a case study method, and the conclusion related to problem and root cause may not be applied totally to other companies, but the framework may be applicable. Future research can investigate other issue using TOC framework, combine TOC with other models to conduct root cause analysis, and the COQ model implementation in shipyard management. Practical implications – This research demonstrates that management can use Interpretative Structural Modelling (ISM) analysis to determine the root cause, then analyse and overcome the issues using TOC framework. COQ model approach to sharpening the decision, and prioritize the resources allocation. Originality/value – This research combine ISM, TOC, and PAF Quality Cost Model approach for decision making which can be a management tool in strategic cost management.]]>
<![CDATA[The The business longevity of SMEs based on entrepreneurial orientation and government policies in facing disruption challenges ]]>
<![CDATA[Abdul Azis Bagis]]>;
<![CDATA[Akram Sukma]]>;
<![CDATA[Santi Nururly]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 27, NO 2 (2023) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol27.iss2.art5
<![CDATA[Purpose ─ This paper aims to examine the role of entrepreneurial orientation for SMEs in building business continuity in eastern Indonesia and highlight strengthening government support for the sustainability of post-covid SME entities. Design/methodology/approach ─ A random sampling approach was used to select the respondents, with closed questions used for a sample of 400 SME owner-managers in eastern Indonesia using the structural equation modelling technique (PLS-SEM). Findings ─ The results show that the ability of SME owner-managers to build business longevity is determined more by their strong entrepreneurial orientation than by government support. In the context of this study, the government’s support policy for SMEs in eastern Indonesia is ineffective. Limitations/research implications – This research selects the characteristics of the living company by Geus, which positions business entities as living beings, as an indicator of business longevity. Practical implications - Based on research results, the sustainability of SMEs in eastern Indonesia can be built based on the owner-managers entrepreneurial orientation. Meanwhile, government support still needs to be maximized. Originality/value ─ The contribution of three determinants of government support to SMEs is analyzed to determine the acceleration of the survival of SMEs after Covid.]]>
<![CDATA[The role of financial accountability control in improving financial performance ]]>
<![CDATA[Novandalina, Arini]]>;
<![CDATA[Khajar, Ibnu]]>;
<![CDATA[Ghoniyah, Nunung]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 28, NO 1 (2024) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol28.iss1.art8
<![CDATA[Purpose – This study aims to describe the effect of diversity of knowledge and financial capabilities on accountability for behavior control and improvement of financial performance.Design/methodology/approach – The population in this study were all branches of the Baitul Maal Wat Tamwil Sharia Savings and Loans Cooperative (KSPPS BMT) in Central Java. The sample used purposive sampling to obtain 146 respondents. Data were analyzed using the Structural Equation Modeling (SEM) analysis technique with the application of Analysis Moment of Structural (AMOS 24).Findings – The results of the study explain the increase in financial performance based on Behavioral Accounting Theory and Human Resource Management Theory. The behavior control accountability model shows that perceived interest and intention in self-confidence to control accountability behavior as indicated by behavioral intention, perceived behavioral control, process and financial accountability can affect financial performanceResearch limitations/implications – Where the factors of diversity of knowledge and financial capability in shaping accountability for behavior control and impact on financial performance will offer a deeper understanding of the supporting factors for accountability for behavior control and also have an impact on efforts to improve financial performance.Practical implications – A better understanding of the factors influencing improvement efforts should assist accountants in information processing, quality of judgments, accounting problems that arise with accounting users and preparers, and the use of information in accounting decision making.Originality/value – Using and explaining about improving financial performance based on Behavioral Accounting Theory and Human Resource Management Theory. The behavior control accountability model shows that perceived interest and intention in self-confidence to control accountability behavior as indicated by behavioral intention, perceived behavioral control, process and financial accountability can affect financial performance]]>
<![CDATA[Revealing the power play: Unraveling the dynamic environment's influence on intangible resources and sustainable competitive advantage ]]>
<![CDATA[Rahmat, Muhammad Wadud]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 28, NO 1 (2024) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol28.iss1.art1
<![CDATA[Purpose – The objective of this study is to examine the impact of the dynamic environment on the relationship between intangible resources and sustainable competitive advantage in large and medium-sized manufacturing firms operating across various sectors.Design/methodology/approach – The research sample was selected using cluster random sampling, which is based on company size, namely large and medium-sized companies only, totalling 257 companies as the unit of analysis. A questionnaire was utilized to collect data. While the study employed residual technique and the Hayes (2012) method for variable assessment, the primary method used was a causal analysis.Findings – The findings indicate that the dynamic environment does not act as a moderating variable, implying that the sustainability of the organization is unaffected by the firm’s dynamic environment.Research limitations/implications – Research findings can play a pivotal role in corporate strategy, enabling companies to reach a sustainable competitive advantage by closely monitoring environmental changes. Practical implications – This research can assist companies in developing business strategies that are more adaptive to environmental changes, enabling them to actively monitor and identify emerging opportunities and threats. By doing so, companies can take appropriate steps to maintain their competitive advantage.Originality/value – Previous researchers have rarely conducted this research, primarily due to a lack of understanding on how to effectively connect dynamic environments with intangible resources in order to achieve sustainable competitive advantage.]]>
<![CDATA[Profitability and dividend policy: How does free cash flow explain this relationship? ]]>
<![CDATA[Januarsi, Yeni]]>;
<![CDATA[Sanusi, Fauji]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 28, NO 1 (2024) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol28.iss1.art4
<![CDATA[Purpose – This study aims to examine the possible explanations for the inconsistency between profitability and dividend policy association. It also aims to carefully investigate the explanations of the free cash flow regarding the profitability-dividend policy relationship while specifying the shape of the moderating variables.Design/methodology/approach –This study uses LQ45-listed enterprises as research sample and adopt hierarchical moderating analysis as our methods. This study also uses 10-year observations from 2012-2020 with 170 firm-years observations represented by 17 companies.Findings – The results showed a positive association between profitability and dividend policy, suggesting that higher profit was capable of inducing firms to provide more dividend payments for the stockholders. Furthermore, increasing free cash flow strengthened the profitability-dividend policy relationship and it play a role as a pure moderator between both variables. Research limitations/implications – As this study use LQ45 sample firms, the interpretation from the research funding should be carefully made and generalizations should be done with caution. Also, current study does not include managerial characteristics as potential factors to influence dividend policy due to data limitation. Practical implications – This study provide implication for managers by suggesting that the free cash flow condition of a company may be essential for deciding dividend payout policy when firms can create good profitability. Firms need to maintain its fee cash flow level to gain benefit as a driver to create favorable dividend policy for stockholders. Originality/value – This study adds essential contribution to the moderating role literature by distinguishing the type of moderating role of free cash flow on the relationship between dividend policy and profitability. In addition, this study also incorporates hierarchy regression analysis which is different from prior similar study.]]>
<![CDATA[The impact of board characteristics on executive compensation: evidence from Jakarta Islamic Index Company ]]>
<![CDATA[Ishak, Khodijah]]>;
<![CDATA[Zarefar, Arumega]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 28, NO 2 (2024) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol28.iss2.art4
<![CDATA[Purpose – This study aims to examine the effect of board characteristics on CEO compensation. The board characteristics examined in this study include board independence and gender diversity consisting of woman on board and independent woman board on CEO compensation.Design/methodology/approach – The population in this study is a company belonging to the Jakara Islamic Index (JII) at the Indonesian Stock Exchange for the period 2012 - 2016. The sample in this research was determined by purposive sampling method with a total sample of 75 annual reports.Findings – The results show that independent board gender diversity consisting of female boards and independent female boards has no effect on CEO compensation.Research limitations/implications – The sample of this study is a company with shares included in the Jakarta Islamic Index on the Indonesian Stock Exchange (IDX) with an observation period of 2012-2016. Hypothesis testing in this study using multiple linear regression analysis.Practical implications – Boards to oversee and control the actions of opportunists manager, and define the most important decisions of companies, one of which compensation for the CEO, so that corporate objectives can be achieved. With the larger board size will increase oversight function of the board to act opportunistically manager so control oversight of CEO compensation more stringent design and can be defined more precisely.Originality/value – Research on the role of women in board composition is gaining attention, but not much has been explored in a country with a strong patriarchal culture like Indonesia.]]>
<![CDATA[The smart effort to build up an innovative organizational culture in a skincare company ]]>
<![CDATA[Handoko, Yunus]]>;
<![CDATA[Anjaningrum, Widiya Dewi]]>
<![CDATA[ Jurnal Siasat Bisnis VOL 28, NO 1 (2024) ]]>
Publisher : <![CDATA[Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia ]]>
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DOI: 10.20885/jsb.vol28.iss1.art3
<![CDATA[Purpose – The research objective was to examine the predominant errand of work engagement (WE) and the physical work environment (PWE) in the development of innovative organizational culture (IOC) by contemplating the mediating factors of innovative work behaviour (IWB) and employee performance (EP).Design/methodology/approach – The research was conducted through a questionnaire survey of all employees of PT. Alzena Skincare Indonesia, 175 people who produced quantitative primary data. Through the PLS-SEM high-level analysis, the validity and reliability of the questionnaire were checked, and each research hypothesis was evaluated in detail.Findings – The research results showed that an ‘IOC’ in a skincare company can be developed, and ‘WE’ is the principal aspect. However, it was still essential for the company to heed the ‘PWE’. The partial mediating role of ‘IWB’ and ‘EP’ accelerated the formation of an ‘IOC’. Meanwhile, serial mediation of ‘IWB’ and ‘EP’ only supported ‘WE’ in building ‘IOC’, not the ‘PWE’.Research limitations/implications – This research was still limited to PT. Alzena Skincare Indonesia employees, so the results cannot be generalized to other types of businesses. Thus, further research is compulsory to test the research model on other objects and look for other factors that can encourage creation of an innovative organizational culture.Practical implications – The practical implication of this research was that skincare company managers need to build ‘IOC’ by strengthening ‘WE’ and improving the ‘PWE’ that supports it. These two factors created ‘IWB’ and improved ‘EP’, ultimately forming an ‘IOC’.Originality/value – It still needed to uncover research that examined the effect of ‘WE’ and the ‘PWE’ on ‘IOC’, especially if it was serially mediated by ‘IWB’ and ‘EP’. So, the complex model was the main novelty of this study.]]>
