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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
Pull Factor and Push Factor Influences on the Volatility of Foreign Investment Flows in Indonesian Capital Market Chakimatuzzahroh, Chakimatuzzahroh; Witiastuti, Rini Setyo
Management Analysis Journal Vol 7 No 2 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i2.23854

Abstract

The purpose of this study is to determine the factors that affect the flow of foreign investment into the Indonesian Stock Market that includes the factors of return, risk, and inflation derived from foreign markets/ global (push factor) and from the domestic market (pull factor). Testing is done by using analysis model Autoregressive Conditional Heteroscedasticity (ARCH) and Generalized Autoregressive Conditional Heteroscedasticity (GARCH). Testing is done with six estimation models among them ARCH, GARCH, ARCH-M (2,1), ARCH-M (2,2), Treshold Autoregressive Conditional Heteroscedasticity (TARCH), dan Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH). Using the significance of estimation parameters, goodness of fit model, Akaike’s Information Criterion test, Schwarz Information test, and ARCH effect test, found the best model is ARCH-M (2,1) estimation model. The results of testing with ARCH-M (2,1) model showed that the return and domestic risk (pull factor) significantly have a relation with the flow of foreign investment in Indonesia Stock Exchange, while return , risk, global inflation (push factor), and domestic inflation have no significant effect.
The Impact of Female Diectors on Dividend Policy Maftucho, Wiwit Nur; Khoiruddin, Moh.
Management Analysis Journal Vol 7 No 3 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i3.23857

Abstract

The purpose of this study is to explain whether there is any effect of female directors towards dividend policy in developing countries, and whether state ownership moderates the effect of female directors towards dividend policy in developing countries. The population in this study is a non-financial company listed on the Indonesia Stock Exchange and Malaysia stock exchange on the period 2011-2015. The number of samples is 145 data for companies in Indonesia Stock Exchange and 1145 data for companies in Malaysia stock exchange by using purposive sampling method. The dividend payment variables are proxied by the Dividend Payout Ratio (DPR) and Dividend Yield (YIELD), female directors is proxied by the percentage of female directors, the state ownership is proxied by the percentage of share ownership by the government. Censored regression analysis using Eviews9 is used for data analysis. Based on the regression model used, it is found that there is effect of female directors on dividend policy in Indonesia, whereas there is no effect of female directors on dividend policy in Malaysia. However, positive state ownership moderates the effect female directors towards dividend policyt at companies in Malaysia.
Influence of Store Atmosphere, Product Knowledge and Brand Image toward Purchase Decision through Word of Mouth Aisah, Iin Nur; Wahyono, Wahyono
Management Analysis Journal Vol 7 No 2 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i2.23858

Abstract

Word of mouth has an important role in improving purchase decision that supported with unique and interesting store atmosphere, good product knowledge and positive brand image. However, some previous studies showed different result that by unique and interesting store atmosphere, good product knowledge and positive brand image to word of mouth and purchase decision for the company. The purpose of this study is to examine the direct influence of store atmosphere, product knowledge, and brand image, on Purchasing Decision and its indirect influence through word of mouth. Sample in this study are 115 consumers in the city of Semarang with sampling incidental sampling technique. The analysis technique used path analysis with SPSS program version 21. The result showed that store atmosphere, product knowledge, and brand image had positive effect and significant on purchase decision with significance < 0.05. While the test of intervening obtained by the total value of the indirect > direct effect, that store atmosphere of 0.1519 > 0.142, product knowledge of 0.427 > 0.327, and brand image of 0.5185 > 0.513. The conclusions of this study proved that store atmosphere, product knowledge, and brand image had positive effect and significant on purchase decision by direct effect and indirectly through word of mouth.
The Influence of Family Controlled, Family Leadership and Profitability to Dividend Policy Rochana, Anis; Wijayanto, Andhi
Management Analysis Journal Vol 7 No 3 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i3.23958

Abstract

The aim of this study was to examine the effect of family controlled, family leadership and profitability towards dividend policy (study on familyfirmlisted on Indonesia Stock Exchange period 2012-2016). The population in this study was family company listed on Indonesia Stock Exchange period 2012-2016. The number of samples obtained based on purposive sampling technique as many as 20 companies. The Result of hypothesis test showed that family ownership had negative effect on dividend policy. Family member had negative effect on dividend policy. Family leadership had positive effect on dividend policy. Profitability had negative effect on dividend policy. So, it can be concluded that firms which were led by CEOs who came from family member often tend to distribute dividends.
The Effect of Abusive Supervision on Employee Silence with Perceptions of Organizational Politics and Organizational Justice as Mediation Sulastri, Iis; Wulansari, Nury Ariani
Management Analysis Journal Vol 7 No 4 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i4.23976

Abstract

The purpose of this study is to explain the effect of abusive supervision on employee silence with perceptions of organizational politics and organizational justice as mediator. The population of this study was all employees of a developing textile and garment company in the Semarang District. The sampling method used a multi-stage random sampling with a sample of 199 respondents. Methods of data collection used observation, interviews and questionnaires that were measured using a Likert scale. Methods of analysis of this study used the software of WarpPLS 6.0. The results show that abusive supervision and perceptions of organizational politics have a positive effect on employee silence. abusive supervision has a positive effect on perceptions of organizational politics, but abusive supervision has a negative effect on organizational justice. In addition, organizational justice has a negative effect on employee silence. Perceptions of organizational politics and organizational justice as a partial mediating role on the effect of abusive supervision on employee silence. Suggestions for the company that the company can reduce the high of employee silence with giving treatment employees fairly and supervisor should improve its supervision system.
Influence of Sales Promotion, Hedonic Shopping Motivation and Fashion Involvement Toward Impulse Buying through a Positive Emotion. Andani, Kiki; Wahyono, Wahyono
Management Analysis Journal Vol 7 No 4 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i4.24105

Abstract

This study aims to determine the direct indirect influence of sales promotion, hedonic shopping motivation, fashion involvement and positive emotion as an intervening variable on impulse buying. The population of this research is customer of House of Smith Semarang. The number of samples is 100 respondents with incidental sampling technique through likert scale questionnaire. Data analysis using descriptive percentage and path analysis. The results show that sales promotion, hedonic shopping motivation, fashion involvement service affect impulse buying and positive emotion influence impulse buying and mediate the influence of sales promotion, hedonic shopping motivation, fashion involvement.
The Influence of Electronic Word-of-Mouth and Destination Image on Visit Decision through Visit Intention as Intervening Variable Aryianto, Muhammad Zaenal; Prihandono, Dorojatun
Management Analysis Journal Vol 7 No 3 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i3.24122

Abstract

Now, internet and social media impact on many human life aspects, such as consumer behaviour on traveling in Indonesia. This research aims to exemine the influence of electronic word of mouth and destination image on visit decision. This research also proves the influence of visit intention as an intervening variable. Population are tourists of Panjang Island Jepara. The sampling technique used was purposive sampling technique, the respondents was 116. The data collection method used was questionnaire method. The data analysis used was path analysis. The research variables are electronic word of mouth, destination image, visit decision, and visit intention. Results showed that destination image had a positive and significant influence on visit decision. Meanwhile, electronic word of mouth had no significant influence on visit decision. Results also showed that visit intention had a role as an intervening variable between electronic word of mouth and destination image on visit decision.
The Effect Of Good Corporate Governance Towards Company Financial Performance Agustina, Dwi; Ardiansari, Anindya
Management Analysis Journal Vol 8 No 2 (2019): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v8i2.24129

Abstract

The aims of this study were to describe and analyze the effect of good corporate governance on company financial performance. The population in this study was companies listed as participant of corporate governance perception index during the period 2010-2016. The sample in this research was 105 observations which consisted of 15 companies and observation through purposive sampling method which was based on certain criteria. Analysis technique which was used in this research was simple linear regression analysis with eviews 9 program. The results of this research indicated that good corporate governance had insignificant positive effect on company financial performance. The adjusted R Square value was 0.252689 showed the ability of good corporate governance variable to explain company financial performance that was 25.27% while the rest was 74.73% could be explained by other variables. 74.73% (100% -25.27%). The conclusion of this research is GCG variable has no significant effect on company financial performance. Suggestion for company management should maintain its rate on CGPI. For the investors before investing, investors should choose companies that have good CGPI ratings. For the next researcher should replace or add other research variables, such as capital structure and financial statements quality.
The Effect of Place Branding, Promotion and Tourism Product Attribute on Decision to Visit Through The Destination Image Fuadillah, Nanda; Murwatiningsih, Murwatiningsih
Management Analysis Journal Vol 7 No 3 (2018): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i3.24135

Abstract

The purpose of this study is to know the effect of place branding, promotion and attributes of tourism products to the decision to visit through the image of the destination. The population in this study is the visitors of Teluk Penyu beach tourism destination of Cilacap regency. The number of samples in this study were 150 respondents with Accidental sampling technique. Data analysis using Path Analysis with SPSS program version 21, where variables used include place branding (X1), promotion (X2), tourism product attribute (X3), destination image (Z1), Decision to visit (Y1). The result of the research found that all hypothesis of direct effect proposed is accepted where the significance value is <0,050, whereas for the intervening test obtained the total value of indirect effect> direct influence. This proves the hypothesis both directly and indirectly in this study are all accepted. Conclusion the better place branding, promotion and tourism product attributes can affect the image of the destination that will impact on the decision to visit.
Effect of Foreign Investment Flow, World Capital Market, Foreign Exchange and Country Risk to the Capital Market Return in Indonesia Setiaji, Fajar; Wijayanto, Andhi
Management Analysis Journal Vol 8 No 1 (2019): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v8i1.24137

Abstract

This study aims to determine the effect of foreign investment flow, World capital market (MSCI-World Index), rupiah exchange rate against US dollar and country risk (EMBI +) on Indonesia capital market return. The test is done by using multiple linear regression models. The test also uses stationery test data using Augmented Dicky Fuller Test (ADF) method. Then the Classic Assumption Test (Normality Test, Multicollinearity Test, Heteroscedasticity Test, and Autocorrelation Test), Hypothesis Testing includes Partial Test (t-test statistic), Goodness of Fit Test, and simulation test (statistic F test). The test result of this research by using multiple linear regression shows that the variable of foreign investment flows have a positive and significant effect on the return of Indonesian capital market, the variable risk country has no significant negative effect on the return of Indonesian capital market, while the world capital market variable and the rupiah exchange rate against US dollar significantly influence the return of Indonesia capital market.

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