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Management Analysis Journal
Published by Universitas Negeri Semarang
ISSN : 22526552     EISSN : 25021451     DOI : 10.15294/maj
Core Subject : Science,
Decision Sciences, Operations Research & Management
Management Analysis Journal (MAJ) is an open-access electronic journal focusing on scientific work on the field of business. This journal applies the theory developed from business research and connects it to actual business situations. The articles within this journal are published quarterly (March, June, September, and December). This journal is maintained and issued by Departement of Management, Faculty of Economics, Universitas Negeri Semarang. MAJ has been accredited by National Journal Accreditation (ARJUNA) Managed by Ministry of Research, Technology, and Higher Education, Republic Indonesia with Third Grade according to the decree No. 23/E/KPT/2019.
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Articles 13 Documents
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Search results for , issue "Vol 11 No 4 (2022): Management Analysis Journal" : 13 Documents clear
An Additional Evidence: Pecking Order Theory in Indonesia Pratiwi, Yosi Setya; Yulianto, Arief
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.63562

Abstract

The paper aims to determine the leverage deviation and the impact of firm size on the leverage deviation. We have collected 504 pooled data from the Indonesia Stock Exchange (IDX) from 2009 to 2020. The model estimates have been analyzed by OLS regression, where regress, the deviation of leverage, and firm size is the explanatory variable. Our spurious prevention model controls growth and tangible assets. Our finding is that the company's overleverage is greater than the under leverage of 504 units of observation. OL type companies, characterized by asset volatility with firm size and lower debt ratio, tend to follow the POT hierarchy. They prefer debt issuance over equity; the actual leverage is lower than the target leverage. In contrast, companies characterized by UL with higher volatility in assets in place with firm size and higher debt ratio than OL tend to follow the PDT hierarchy. As a result, they issue equity over debt, and then large companies issue equity in the presence of information asymmetry. It is possible that the modal structure is dynamic and will require testing of time series or data panels. We leave that explicit analysis for future research.
Are There Differences in Perception of Predictors of Satisfaction with Work Among Pharmaceutical Executives? A WarpPLS Multigroup Assessment Oamen, Theophilus Ehidiamen; Ihekoronye, Maduabuchi Romanus
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.58987

Abstract

Pharmaceutical sales executives are an essential human resource workforce in medicine supply. These executives come from diverse demographic groupings, which may influence their perceptions and feelings about work engagement (WE) and employer responsiveness (EPR), and consequently influence satisfaction with work (SW). The study aimed to evaluate group differences in the hypothesized influence of WE and EPR on SW. An online questionnaire was administered to a random sample of 369 pharmaceutical executives in Nigeria. Composite-based partial least squares structural equation modeling (PLS-SEM) in WarpPLS software provided the multigroup analysis framework to investigate these hypothesized differences at p<0.05. The overall model revealed adequate model fit and quality with high predictive relevance. WE positively influenced EPR (β=0.592, p<0.001, strong effect ƒ²=0.350) and SW (β=0.519, p<0.001, moderate effect ƒ²=0.298). EPR positively influenced SW (β=0.101, p=0.025, small effect ƒ²=0.041). Non-pharmacist respondents compared to pharmacists had a higher path coefficient in WE influencing SW (β=0.564 vs. β=0.359, p=0.035). Group differences in gender and type of pharmaceutical company were not significant. Participants were more concerned about optimal work situations than having positive or negative feelings about work. The study suggests that non-pharmacist executives show greater adaptability and higher engagement with work, and hence were better satisfied at work.
Leveraging Customer Experience, Brand Image and Store Atmosphere for Millennials Loyalty: An Empirical Analysis of Mediation Nanggong, Ardiwansyah; Mohammad, Ali; Sabila, Alfa
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.56488

Abstract

The increasing population and unique consumer behavior of millennials is a challenge for companies in offering products and retention this segment. The current study aims to investigate the millennial loyalty behavior and its brand-atmosphere mechanism in formatting customer experience. The study on visitors to Warunk Upnormal in Gorontalo was 170 samples of respondents with purposive sampling through questionnaires. Regression data analysis used SPSS Process Macro 3.4 program and mediation check conducted with Sobel test. The research findings indicate that brand image and store atmosphere have a direct and significant effect on customer experience but not significantly on consumer loyalty. Furthermore, the customer experience dimensions have a different impact in mediating the relationship between brand image and store atmosphere in increasing consumer loyalty. This study reinforce the role of the experiential economy in exploring millennial consumer behavior.
Customer Clustering Using The K-Means Clustering Algorithm in Shopping Mall in Indonesia Iksan Adityo Mulyo; Jerry Heikal
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.61894

Abstract

interest in purchasing a product is difficult because the number of visitors varies. As a marketing plan strategy, it is supposed to market the new product similar to customers' interests. This study aims to identify the customer's characteristics, product categories and target segmentation in the shopping mall using the K-Means Clustering algorithm. There were ten variables, age, sex, annual income, spending score, marital status, home location, work location, product interest, social media and children. The application of SPSS V.25 assisted data processing. The total population in this study were 200 participants. In this case, there were 3 clusters with each persona. First Cluster was Gadget Lovers, the second Cluster was Beauty Influencer, and 3rd Cluster was Mature Beauty. The target segment was the customer with profile men & women ages 29 and 40 years old and annual incomes IDR 65,000,000 and 87,000,000, with Instagram as their favorite social media. The product that should be more focused on was Gadget (hand phone & Tablet + accessories) since 1st Cluster (Gadget Lovers) & 2nd the Cluster (Beauty Influencers), who had a total of 58% of the total population, was likely to buy that product in Shopping Mall. Based on the author's buyer persona, Online Valuable Proposition (OVP) for this product is Trusted.
Analyzing Factors of Turnover Intention at PT. Sumber Alfariya Trijaya Tbk Nindhita, Yoga; Saputro, Purnomo Herry; Prawani, Dwi
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.63693

Abstract

Turnover intention is a problem in many companies today. This study aims to determine the effect of job satisfaction, work stress, compensation, and career development on shop employee turnover intention at PT. Sumber Alfariya Trijaya Tbk. Semarang branch. This study uses quantitative methods, with descriptive and statistical types of analysis. The population in the study was 449 people and 82 respondents were taken. Sampling using a simple random sampling technique, respondents are employees of PT. Sumber Alfariya Trijaya Tbk Semarang. The analytical model used in this study is multiple linear regression. The F test also shows that all the independent variables in this study simultaneously affect the turnover intention of PT. Sumber Alfariya Trijaya Tbk. Semarang and the variable that has the dominant influence is the variable job satisfaction. The practical implications of the results of this study are that PT. Sumber Alfariya Trijaya Tbk. The Semarang branch needs to provide more compensation to employees to reduce the turnover rate. For career development and the level of employee job satisfaction needs to be maintained and it is necessary to reduce the level of work stress of employees.
A Systematics Literature Review of SMEs Entrepreneurial Orientation Pahlevi, Reza Widhar; Retnaningdiah, Dian; Kurnianingsih, Retno; Prasojo, Eko; Samsudin, Muhammad Agus
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.63899

Abstract

This study aims to analyze the systematic literature analysis of international scientific articles on the theme of SMEs entrepreneurial orientation research, data search from the perspective of keywords, research locations and subjects, as well as the research methods used. This study reviews 786 international articles and presents the main findings. First. The first theme in SMEs entrepreneurial orientation research is related to the concept of the right strategy that is very necessary for SMEs entrepreneurs, entrepreneurial orientation is one of the important factors that can drive the success of a business. Second, exploratory and case studies are the dominant data sets used. Third, research on entrepreneurial orientation in both developing and developed countries has almost the same number of studies. Fourth, based on bibliometric techniques using Vosviewer. Recommend further research agenda to exploring these four themes, it will further contribute to the development of SMEs entrepreneurial orientation in the future.
Work-Life Balance: Conceptualization, Antecedents and Consequences Wulansari, Nury Ariani; Harsono, Mugi
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.64061

Abstract

The notion of work-life balance (WLB), which integrates two primary dimensions, engagement in work and non-work life, and minimum conflict between social role in one’s work and in one’s life has evolved from a review of much of the literature in previous research. Beside that, the identification of antecedent variables from both individual and organizational levels that could affect WLB and explained their influence on WLB are also examined in this study. To fully comprehend the differences in the factors that are able to influence WLB and are affected on WLB, identification of the consequent variables from the influence of WLB is also collected. From this identification process, future study path will be identified, and these directions will have consequences of leaving gaps for in-depth investigations and implications managerial policies related to WLB.
Study of Science Philosophy: Behavioral Bias and Investment Decisions Andhi Wijayanto; Mugi Harsono
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.64064

Abstract

bjectives This paper aims to develop a theoretical and research framework by identifying behavioral biases in investment decisions and reviewing the existing literature in the field of behavioral biases related to behavior finance from the perspectives of ontology, epistemology, and axiology. This is because behavioral biases in management, and in particular financial management, remain an interesting research area. The study by Parveen, Satti, and Bashir (2021) demonstrates that heuristics and behavioral biases do exist and impact the decisions made by Pakistani investors during COVID-19. Pakistani investors have suffered a loss due to their faulty thinking. The Pakistani stock market exhibited features of dual process theory and prospect theory throughout this outbreak. Investors can employ both gut feelings and rational analysis. Since this study illuminates the impact of COVID-19 on emerging stock markets like Pakistan's, it contributes to the expanding body of scholarship on behavioral finance in developing nations.
Determinants of Banks Rentability Listed on The Indonesia Stock Exchage (IDX) Period 2016-2019 Dwi Endah Pratiwi; Anindya Ardiansari
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.50031

Abstract

The main purpose of this study to analyze the effect of CAR, LDR, LTA, SRR, NPL, OC and GDP on bank rentability (ROA). Population in this study are all companies is the banking sub-sector listed on the Indonesia Stock Exchange period 2016-2019. The sampling method used purposive sampling, resulting in a sample of 27 companies. This study using multiple linear regression analysis with Eviews 9 software as an analytical tool. The results showed that CAR had positive and insignificant effect on ROA, LDR had positive and insignificant effect on ROA, LTA had positive and insignificant effect on ROA, SRR had negative and insignificant effect on ROA, NPL had negative and significant effect on ROA, OC had negative and significant effect on ROA, and GDP has negative and significant effect on ROA.
Covid-19 Outbreak and New Normal Policy to The Reaction of The Indonesian Capital Market: An Event Study Analysis Milhah Alfionita; Dwi Cahyaningdyah
Management Analysis Journal Vol 11 No 4 (2022): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v11i4.58533

Abstract

This study aims to determine whether there is a difference in the average abnormal return on shares of the tourism, hotel, restaurant, transportation, and pharmaceutical sub-sectors before and after the outbreak of the Covid-19 pandemic and the implementation of the new normal policies in Indonesia. This research is quantitative research with an event study approach using a purposive sampling method to determine the number of samples. The study period was limited to 5 days before the event (t-5) and 5 days after the event (t+5). The test tool used in this research is the Wilcoxon signed rank test. The results of this study showed that during the announcement of the Covid-19 pandemic in Indonesia, there was a significant difference in the average abnormal return and no significant difference in the average trading volume activity in the shares of tourism, hotel, restaurant, and the pharmaceutical sub-sector. In addition, there was no significant difference in the average abnormal return and average trading volume activity in the transportation sub-sector shares. Meanwhile, the announcement of the new normal policies showed that there was no significant difference between the average abnormal return and average trading volume activity in the shares of tourism, hotel, restaurant sub-sector, and transportation sub-sector. Moreover, there was a significant difference between the average abnormal return and average trading volume activity in shares of the pharmaceutical sub-sector.

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