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Management Analysis Journal
ISSN : 22526552     EISSN : 25021451     DOI : 10.15294/maj
Core Subject : Science,
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 905 Documents
Pengaruh Servant Leadership terhadap Kinerja Karyawan dengan Burnout sebagai Variabel Intervening Aji, Muhammad; Palupiningdyah, Palupiningdyah
Management Analysis Journal Vol 5 No 3 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i3.9754

Abstract

Human resource issues becomes the significant challenge for the company management. A new approach in leadership could simultaneously increase the employee's personal growth and repair the quality and services. An effort to achieve that condition at the workplace is necessary to be applied by a leadership model known as servant leadership. This study aims to investigate the influence of self-leadership to the employee performance with bornout as the intervening variable on the employees of PT. Inti Roda Makmur Persada Tbk Tangerang. The population of this study is all the employees of PT. Inti Roda Makmur Persada Tbk Tangerang. Sampling technique using proportionate random sampling, there are 64 respondents. The methods of collecting the data are observation, questionnaires and literature. Data analysis using linear regression and line analysis. The result showed that t value is proved that servant leadership contributes positive and significant impact on the burnout. The second research results obtained proven that servant leadership gives positive influence and significant impact on the performance directly. The third result showed that burnout give negative effect And significant on the performance directly. And the next result showed that servant leadership to performance by burnout give negative affect and significant.
Analisis Pengendalian Pesediaan Bahan Baku dengan Menggunakan Metode Economic Order Quantity (EOQ) pada Perusahaan Roti Bonansa fajrin, Eldwidho hanarista; Slamet, Achmad
Management Analysis Journal Vol 5 No 4 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i4.9944

Abstract

ABSTRACT Fajrin, Eldwidho Hanarista. 2015. “Analisis Pengendalian Persediaan Bahan Baku Dengan Menggunakan Metode Economic Order Quantity (EOQ) Pada Perusahaan Roti Bonansa”. Manajemen Keuangan. Fakultas Ekonomi. Universitas Negeri Semarang. Pembimbing Prof. Dr. H. Achmad Slamet, M.Si Key Word : Economic Order Quantity (EOQ), Raw Material Supply, Safety Stock (SS), Reorder Point (ROP), Total Inventory Cost (TIC) Optimal of raw material supply is an important factor in the fluency of the production process in a company. These raw materials can be controlled by using certain methods, one of that is a Economic Order Quantity (EOQ) method which has a better level of calculation accuracy than conventional methods. This study is quantitative research, which has a goal to examine more deeply about the use of methods Economic Order Quantity (EOQ) in the control of raw materials companies Bread bonanza. The object of this study is the number of purchases, the amount of inventories, amount of usage of raw materials used in production, as well as a booking fee and the cost of storage of raw materials. The result showed the optimal inventory of raw flour materials using EOQ method is 3009kg with a frequency of purchase as 30 times, safety stock is 504kg and ROP done at the time the raw material warehouse at 1188kg and TIC Rp 12,559,196.00. Optimal supplies of sugar with EOQ method is 1244 kg, with a frequency of purchase as 20 times, safety stock is 412 kg and ROP should be done at the time the raw material warehouse is 578kg while the TIC Rp3.461.934,00. Conclusions from this research is the calculation method of EOQ in counting raw materials wheat flour and sugar more efficiently than with conventional methods. This can be prove from the results of the comparison TIC more efficient use EOQ method to save costs and is able to increase profits. Suggestions for management of Bonansa company is to use EOQ method in process of controlling raw materials companies.
Analisis Kinerja Reksa Dana Saham dengan Metode Sharpe, Treynor dan Jensen Anggara, Aldias wahyu; Yulianto, Arief
Management Analysis Journal Vol 6 No 1 (2017): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v6i1.10270

Abstract

Tujuan dari penelitian ini adalah memberikan informasi kinerja Reksa Dana saham berdasarkan metode Shrape, Treynor dan Jensen. Penelitian ini merupakan penelitian deskriptif dengan menggunakan pendekatan kuantitatif. Populasi penelitian adalah Reksa Dana saham periode 2012-2014. Sampel penelitian sebanyak 58 Reksa Dana saham dengan metode purposive sampling. Alat analisis dalam penelitian ini adalah metode pengukuran kinerja berdasarkan risk adjusted return yang meliputi metode Sharpe, Treynor, dan Jensen dengan aplikasi microsoft excel. Selama periode pengamatan (2012-2014) terdapat Reksa Dana saham yang konsisten berkinerja positif dan outperform. Reksa Dana tersebut adalah RHB OSK Alpha Sector Rotation dan SAM Indonesian Equity Fund, oleh karena itu kedua Reksa Dana tersebut adalah Reksa Dana yang layak dijadikan pilihan berinvestasi.
Fenomena Anomali Pasar di Bursa Efek Indonesia dan Bursa Efek Singapura Khoidah, Indah; Wijayanto, Andhi
Management Analysis Journal Vol 6 No 1 (2017): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v6i1.10373

Abstract

Ada tiga macam bentuk teori pasar efisien, salah satunya adalah pasar efisien bentuk lemah dimana investor tidak dapat menggunakan informasi masa lalu untuk memprediksi nilai di masa sekarang. Sementara itu, anomali pasar efisien merupakan hal yang bertentangan dengan teori pasar efisien. Tujuan dari penelitian ini adalah untuk mengetahui apakah terjadi fenomena Monday Effect, Weekend Effect, dan Month of The Year Effect pada Bursa Efek Indonesia dan Bursa Efek Singapura. Populasi penelitian ini merupakan data harga penutupan harian IHSG dan STI periode 12 Februari 2014 – 12 Februari 2016. Teknik sampling yang digunakan adalah sampling jenuh untuk pengujian Monday Effect & Month of The Year Effect sedangkan purposive sampling untuk pengujian Weekend Effect. Metode analisisnya menggunakan model ANOVA dan analisis regresi linear. Hasil dari penelitian ini menunjukkan bahwa pada uji hipotesis pertama dan kedua terjadi kesamaan hasil pengujian, yaitu ditemukan fenomena Monday Effect pada Bursa Efek Indonesia dan Bursa Efek Singapura. Uji hipotesis ketiga dan keempat juga terdapat kesamaan hasil, yaitu tidak ditemukan fenomena Weekend Effect pada kedua bursa. Uji hipotesis kelima dan keenam ditemukan perbedaan hasil pengujian fenomena Month of The Year Effect, dalam hal ini Bursa Efek Indonesia terjadi pada bulan Februari sedangkan di Bursa Efek Singapura pada bulan Januari & Agustus. Berdasarkan hasil penelitian, penulis menyarankan agar peneliti selanjutnya dapat menggunakan teknik analisis yang berbeda dan investor dapat memperhatikan hari maupun bulan perdagangan sebelum mengambil keputusan investasi.
The Determinants of Capital Structure on Consumer Goods Company Period 2011-2014 Riyantina, Riyantina; Ardiansari, Anindya
Management Analysis Journal Vol 6 No 1 (2017): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v6i1.10581

Abstract

Struktur modal penting bagi perusahaan karena mempengaruhi nilai perusahaan secara langsung. Perusahaan memiliki struktur modal yang berbeda meskipun dalam industri yang sama. Penelitian ini bertujuan untuk mengetahui pengaruh struktur aktiva, leverage operasi, profitabilitas, ukuran perusahaan, risiko bisnis dan pertumbuhan penjualan terhadap struktur modal perusahaan. Populasi dalam penelitian ini adalah perusahaan consumer goods yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2011-2014. Teknik purposive sampling digunakan untuk menentukan sampel. Hasil uji regresi linier berganda menunjukkan bahwa empat variabel independen yang mempengaruhi struktur modal yaitu struktur aktiva, leverage operasi, profitabilitas dan ukuran perusahaan. Sedangkan risiko bisnis dan pertumbuhan penjualan tidak berpengaruhi terhadap struktur modal. Kesimpulan dari penelitian ini yaitu struktur aktiva, leverage operasi dan ukuran perusahaan berpengaruh positif signifikan terhadap struktur modal. Profitabilitas berpengaruh negatif signifikan terhadap struktur modal. Risiko bisnis dan pertumbuhan penjualan berpengaruh positif tidak signifikan terhadap struktur modal. Saran yang disampaikan yaitu untuk memperhatikan komponen struktur modal, agar struktur modal perusahaan memiliki komposisi yang ideal. Hasil penelitian ini dapat dijadikan sebagai referensi penelitian selanjutnya.
Aplikasi Single Index Model dalam Pembentukan Portofolio Optimal Saham LQ45 dan Jakarta Islamic Index Oktaviani, Berlian Nanda; Wijayanto, Andhi
Management Analysis Journal Vol 5 No 3 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i3.10651

Abstract

The aim of this study is to constructing optimal portfolio from LQ45 stocks and Jakarta Islamic Index stock in 2013-2015 as well as calculating the portfolio’s return, risk and it’s performance. Sample of this study are 29 listed companies from LQ45 and 19 listed companies from JII selected by purposive sampling method. This study applying Sharpe’s single index model to constructing an optimal portfolio and Jensen’s Index to measure the portfolio performance. The result of calculations using Sharpe’s single index model that includes the LQ45 optimal portfolio with the proportion of funds that of UNVR as 52.15%, AKRA as 28.77% and ICBP as 19.06%. The LQ45 portfolio has return as 1.77% along with risk as 2.73% with performance as 0.0147709. The portfolio formed from JII along with the proportion of funds is UNVR as 50.80%, AKRA as 27.63%, ICBP as 18.31%, WIKA as 3.97%. The JII portfolio has return as 1.77%, risk as 2.93% with performance 0.0150893. The conclusions of this study is to diversify with a single index model proved to be more favorable and unfavorable views of portfofolio performance compared to the performance of IHSG. Suggestion related to this study is conventional investor may pick LQ45 portfolio and Islamic investor may select JII portfolio as their investment policy.
Reaksi Pasar terhadap Pengumuman Penerbitan Sukuk Mudharabah dan Obligasi Konvensional Purwaningsih, Purwaningsih; Khoiruddin, Moh.
Management Analysis Journal Vol 5 No 4 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i4.10915

Abstract

This research aims to analyse market reaction toward sukuk mudharabah and conventional bonds issue announcement that indicated with abnormal return and trading volume activity. Population in this research is all of sukuk mudharabah and conventional bonds issue announcement registered in IDX period 2012-2015. This research used event study with 21 days of windows period (t-10 to t+10). Samples of this research consist of 5 sukuk mudharabah issue announcements and 65 conventional bonds issue announcements based on purposive sampling method. Analysis methods used in this research are t-test and Paired Samples T-Test. The results of this research show that there are significant abnormal return around the date of sukuk mudharabah issue announcement on t-10, t-8, t-6, and wheres significant abnormal return around the date of conventional bonds issue announcement on t-7, t-3, t-1, t-3, t-4, t-7. In addition, there is no significant difference between trading volume activity before and after to sukuk mudharabah and conventional bonds issue announcement. The market react slow and prolonged so there is not happened market efficiency semi-strong form in information and decision.
Membangun Consumer Loyalty melalui Social Media MARLIYA, NOVA MEI; WAHYONO, WAHYONO
Management Analysis Journal Vol 5 No 3 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i3.11032

Abstract

This study aims to knowing the marketing strategies applied to the company through social media and promotions that can influence and build consumer loyalty. The population in this study is all Zalora consumer. The number of samples is 110 respondents. The sampling technique is Purposive Sampling. The data collection is using the questionnaire/question form. The method of data analysis is using SEM analysis (Structural Equation Modelling) with tool analysis is IBM SPSS AMOS 21 program. The results of the study shows that the research design using variable social media, product position, promotion, purchase decision, satisfaction, and loyalty that these models generally well/fit accepted by the result of calculation of index values that meet the criteria for goodness of fit index. The hypothesis presented in this study are 10 hypothesis with 5 hypothesis result has a significant influence (p<0.05) and 5 other hypothesis has a not influence with significant value (p>0.05). The conclusion of this study proves that the higher implementation of social media, it can improve on consumer loyalty, while promotion of the applied can’t influence on consumer loyalty.
Pengaruh Struktur Kepemilikan dan Komisaris Independen terhadap Biaya Keagenan Perusahaan yang Masuk dalam Indonesia Most Trusted Companies Pratiwi, Rafika; Yulianto, Arief
Management Analysis Journal Vol 5 No 3 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i3.11119

Abstract

The divergences between shareholder and manager take agency cost. This study aims to investigate the influence of managerial ownership, institutional ownership, and independent commissoner on agency cost. Population of this study is firms that occur to Indonesia Most Trusted Companies Based on Investor 2007-2015, published by SWA business megazine. The number of sample is 106 observation data through purposive sampling method. Based on linier regression model, the result is managerial ownership and institutional ownership have no significant affect on agency cost, whereas independent commissioner has positif and significant affect on agency cost. So, if proportion of independent commissioner increase, agency cost will increase.
Pengaruh Kepemimpinan Transformasional dan Kualitas Kehidupan Kerja pada Organizational Citizenship Behavior melalui Komitmen Organisasional Aisyah, Lilis Nur; Wartini, Sri
Management Analysis Journal Vol 5 No 3 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i3.11519

Abstract

Purpose of this research is to explain transformational leadership, quality of work life, and affect on organizational citizenship behavior trhough organizational commitment. The population in this research was all production employee’s PT Ungaran Indah Busana Semarang with of 94 respondents. Method sampling used by proportional stratified random sampling. Method of data collection used questionnaires that measure used a likert scale. The method of analysis in this research used proggame SPSS 21.0 for windows. Result show that transformational leadership to have influence of organizational citizenship behavior amount 0.013, quality of work life to have influence of organizational citizenship behavior amount 0.041, transformational leadership to have influence of organizational commitment amount 0.015, quality of work life to have influence of organizational commitment amount 0.046, and organizational commitment as a mediating variables influence transformational leadership and quality of work life on organizational citizenship behavior mounted to 0.262. Conclusion from this research was more increase of transformational leadership and quality of work life, so it will be increase organizational commitment so it can increased organizational citizenship behavior. Advice for the company is to increased employee motivation at work

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