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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
Reaksi Pasar Modal Indonesia terhadap Pengumuman Kenaikan Harga BBM 22 Juni 2013
Management Analysis Journal Vol 3 No 1 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i1.3352

Abstract

SARI Tujuan dari penelitian ini adalah untuk mengetahui reaksi pasar modal dengan melakukan penelitian perbedaan abnormal return dan volume perdagangan sebelum dan setelah kenaikan harga BBM 22 Juni 2013. Penelitian ini menggunakan pendekatan event study, sampel yang digunakan dalam penelitian sebanyak 37 perusahaan sampel. Hasil dari penelitian ini menunjukkan bahwa pasar modal bereaksi terhadap peristiwa pengumuman kenaikan BBM 22 Juni 2013. Berdasarkan hasil uji beda rata-rata terhadap abnormal return pada periode sebelum dan sesudah pengumuman menunjukkan tidak adanya perbedaan yang signifikan, sedangkan untuk hasil uji beda rata-rata trading volume activity (TVA) menunjukkan adanya perbedaan yang signifikan pada periode sebelum dan sesudah peristiwa pengumuman kenaikan harga BBM 22 Juni 2013. Kata Kunci : Abnormal Return, Event Study, Kenaikan BBM, Trading Volume Activity (TVA). ABSTRACT The purpose of this research is to know the reaction of capital market by using a research about the differences of abnormal return and trading volume activity before and after refined fuel oil increment at June 22th 2013. This research use event study approach, the sample that use in this research are 37 companies sample. The result of this research showed that capital market reacted towards announcement of refined fuel oil increment phenomenon at June 22th 2013. Based on the result of the different average experiment towards abnormal returnin before and after announcement showed there not significant differences, whereas the result of different average experiment trading volume activity (TVA) showed there has differences in before and after announcement of refined fuel oil phenomenon on June 22th 2013. Keywords : Abnormal Return, Event Study, Refined Fuel Oil Increment, Trading Volume Activity (TVA).
Pengaruh Analisis Kebangkrutan Model Altman terhadap Harga Saham Perusahaan Manufaktur
Management Analysis Journal Vol 3 No 1 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i1.3354

Abstract

Abstract This study aims to help investors determine the health of companies listed in DES during 2008-2013 period by using the first model of Altman Z – Score, Z = 1.2 X1 + 1.4 X2 + 3.3 X3 + 0.6 X4 +0.999 X5, and analyze Z - Score influence on stock prices. The stock price was taken on 28th day after the company published financial statements. 36 manufacturing companies were sampled by purposive sampling. Z - Score calculation results showed that there were 2 potentially bankrupt companies, 9 companies in grey category, and 25 other companies are healthy. Simple regression analysis results showed that the value of the Z - Score does not affect the stock price. However, the result of the simultaneous multiple regression analysis on financial ratios of the Z - Score affects the stock prices, partially showed the ratio of WC/TA and S/TA negatively affect the stock price; ratio EBIT/TA have a positive effect on stock prices; ratio of RE/TA and MVE/BVD has no effect on stock prices. Keywords: Altman Z - Score, Financial Ratios of Z - Score, Share Price. Abstrak Penelitian ini bertujuan untuk membantu investor mengetahui tingkat kesehatan perusahaan manufaktur yang terdaftar dalam DES periode 2008-2013 dengan menggunakan model Altman Z-Score pertama yaitu Z = 1,2X1 + 1,4X2 + 3,3X3 + 0,6X4 +0,999X5 dan menganalisis pengaruh Z-Score terhadap harga saham. Harga saham diambil hari ke-28 setelah laporan keuangan perusahaan dipublikasikan. 36 perusahaan manufaktur diambil sebagai sampel berdasarkan purposive sampling. Hasil penghitungan Z-Score menunjukkan terdapat 2 perusahaan berpotensi bangkrut, 9 perusahaan masuk kategori grey/ rawan, dan 25 perusahaan lainnya sehat. Hasil analisis regresi sederhana menunjukkan nilai Z-Score tidak berpengaruh terhadap harga saham. Namun, hasil analisis regresi berganda secara simultan rasio keuangan pembentuk Z-Score berpengaruh terhadap harga saham, secara parsial menunjukkan rasio WC/TA dan S/TA berpengaruh negatif terhadap harga saham; rasio EBIT/TA berpengaruh positif terhadap harga saham; rasio RE/TA dan MVE/BVD tidak berpengaruh terhadap harga saham. Keywords: Altman Z-Score, Rasio Keuangan Pembentuk Z-Score, Harga Saham
Pengendalian Persediaan Bahan Baku dengan Metode Economic Order Quantity (EOQ) pada Salsa Bakery Jepara
Management Analysis Journal Vol 3 No 1 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i1.3355

Abstract

Abstrak Persediaan yang optimal dalam perusahaan merupakan salah satu faktor yang penting dalam kinerja perusahaan. Jenis penelitian kuantiitatif, digunakan untuk mengkaji penerapan metode Economic Order Quantity (EOQ) dalam pengendalian persediaan bahan baku di Salsa Bakery Jepara. Hasil penelitian diperoleh jumlah persediaan optimal dengan metode Economic Order Quantity (EOQ) tepung terigu pada triwulan 4 tahun 2012 sebanyak 112 karung frekuensi 7 kali, persediaan pengaman 19 karung, melakukan pemesanan ulang (ROP) ketika persediaan di gudang tersisa 39 karung, total biaya sebesar Rp 2.308.133. Triwulan 1 tahun 2013 sebanyak 100 karung frekuensi 8 kali, safety stock 19 karung, reorder point 39 karung, total biaya Rp 2.499.363. Triwulan 2 tahun 2013 sebanyak 100 karung frekuensi 8 kali, safety stock 14 karung, reorder point 34 karung, total biaya Rp 2.533.428. Triwulan 3 tahun 2013 sebanyak 102 karung frekuensi 8 kali, safety stock 14 karung, reorder point 35 karung, total biaya Rp 2.562.375. Jumlah persediaan optimal dengan metode Economic Order Quantity (EOQ) gula pasir triwulan 4 tahun 2012 sebanyak 25 karung frekuensi 7 kali, safety stock 4 karung, reorder point 8 karung, TIC Rp 1.340.016. Triwulan 1 tahun 2013 sebanyak 23 karung frekuensi 8 kali, safety stock 3 karung, reorder point 8 karung, TIC Rp 1.337.374. Triwulan 2 tahun 2013 sebanyak 24 karung frekuensi 8 kali, safety stock 3 karung, reorder point 8 karung, TIC Rp 1.336.443. Triwulan 3 tahun 2013 sebanyak 25 karung frekuensi 8 kali, safety stock 6 karung, reorder point 11 karung, TIC Rp 1.381.075. Perhitungan persediaan tepung terigu dan gula pasir lebih optimal menggunakan metode Economic Order Quantity, dibanding dengan menggunakan metode konvensional. Salsa Bakery dianjurkan menggunakan metode Economic Order Quantity. Kata Kunci: Economic Order Quantity (EOQ), Persediaan Bahan Baku, Reorder Point (ROP), Safety Stock (SS), Total Inventory Cost (TIC), abstrack Optimal inventory within the company is one of the important factors in the performance of the company. This research is kuantiitatif, used to study in depth the application of Economic Order Quantity (EOQ) of raw materials in inventory control at Salsa Bakery Jepara. After using Economic Order Quantity (EOQ) method, results of the research were obtained the optimal amount of inventory, flour in quarter 4 in 2012 was 112 sacks, the frequency was 7 times, safety stock was 19 sacks, 39 sacks as a reorder point, TIC Rp 2.308.133. Quarter 1 in 2013 was 100 sacks; the frequency was 8 times, safety stock was 19 sacks, reorder point was 39 sacks, TIC Rp 2,499,363. Quarter 2 in 2013 was 100 sacks, the frequency was 8 times, safety stock was 14 sacks, 34 sacks as a reorder point, TIC Rp 2.533.428. Quarter 3 in 2013 was 102 sacks, the frequency was 8 times, safety stock was 14 sacks, 35 sacks as reorder point, TIC Rp 2.562.375. Optimal amount of inventory used the Economic Order Quantity (EOQ) sugar in quarter 4 in 2012 was 25 sacks, frequency was 7 times, safety stock was 4 sacks, 8 sacks was reorder point, TIC Rp 1.340.016. Quarter 1 in 2013 was 23 sacks, the frequency was 8 times, safety stock was 3 sacks, 8 sacks was reorder point, TIC Rp 1.337.374. Quarter 2 in 2013 was 24 sacks, the frequency was 8 times, safety stock was 3 sacks, 8 sacks was reorder point, TIC Rp 1.336.443. Quarter 3 in 2013 was 25 sacks, frequency was 8 times, safety stock was 6 sacks, 11 sacks was reorder point, TIC Rp 1.381.075. The calculation of inventory flour and sugar is more optimal if using Economic Order Quantity, than using conventional methods. Salsa Bakery recommended using Economic Order Quantity. Keywords: Economic Order Quantity (EOQ), Raw Material Inventory, Reorder Point (ROP), Safety Stock (SS), Total Inventory Cost (TIC),
Pengaruh Kepemimpinan Transformasional Disiplin Kerja terhadap Kinerja Karyawan
Management Analysis Journal Vol 3 No 2 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i2.3938

Abstract

The research is to analyze the influence of leadership transformational, motivation and discipline on the employees work performance. Sample in this research totaled 54 employees. Sampling techniques using nonprobability sampling and the sampling technique is saturated so the entire population used samples. Variable this research consisting of leadership transformational, motivation, discipline and performance. Data collection methods used were questionnaires. Analysis of the data used is descriptive analysis of the percentage, multiple linear regression analysis and the coefficient of determination with SPSS 21. The results showed transformational leadership, motivation and discipline work simultaneously affect the performance of the employee. This research is expected to enter for the KSU Prima Mandiri Pati to improve the performance of employees by means of a leaders capable of being wise in any decision making so that more employees are disinclined toward its leader. Besides leader is considered necessary to pay close attention to more of its empolyees by conducting communication to an employee on the outside working hours. Supervision against the employee at the time of the working hours in progress can be minimize errors an employee in worked so as the quality of work that is produced is getting better.
Pengaruh Kualitas Produk dan Kualitas Pelayanan terhadap Loyalitas Pelanggan
Management Analysis Journal Vol 3 No 2 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i2.3939

Abstract

The objective of the study is to analyze the good effects of product and service quality to the customers loyalty Shop. The population of this study was shop customers Lima Jaya Shop, Pekalongan as much 100 respondents using Proportionate Random Sanpling method. The method used in collecting the data was a questionnaire which was measured by liker scale. Based on the partial test, direct influence of product quality to customer loyalty is 0,020 and direct influence of service quality to customer loyalty is 0,002. This study concludes that there is product quality and service quality are positive and significant partially store customer loyalty. Manajerial implications for the store should have to improve the low dimensional as product durability and conformance of products by providing quality product that include material qualification, theoretical implications of further research are expected to examine other variables such as the belief that it is possible to have a variable effect on customer loyalty.
Pengaruh Kepuasan Kerja dan Gaya Kepemimpinan Transformasional terhadap Keinginan Keluar Karyawan dengan Komitmen Organisasi sebagai Variabel Mediasi (Studi Kasus Di CV. Putra Tama Jaya)
Management Analysis Journal Vol 3 No 2 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i2.3940

Abstract

The purpose of this study is to know there any direct and indirect relationship between job satisfaction, organizational commitment and transformational leadership styles and relationship to turnover intention. The population is 294 people Blockboard production employees of CV Putra Tama Jaya and 170 samples obtained using the Slovin formula. Methods of data collection using questionnaires, methods of descriptive analysis, multiple regression analysis and partial and path analysis using SPSS for Windows version 16. The results, there is a direct effect of job satisfaction on employee turnover intention (0.025<0.05), job satisfaction on organizational commitment (0.007<0.05). of organizational commitment on the turnover intention (0.023<0.05), transformational leadership style to organizational commitment (0.000<0.05), so that H1, H2, H3, and H4 is accepted, there is no direct relationship of transformational leadership style against the turnover intention (0.984> 0.05) H5 is not acceptable. Organizational commitment does not mediate the relationship between job satisfaction and the turnover intention against the wishes of transformational leadership style H6 and H7 out so not accepted.
Analisis Pengaruh Profitabilitas, Pertumbuhan Penjualan, Ukuran Perusahaan dan Umur Perusahaan terhadap Struktur Modal Usaha Mikro Kecil dan Menengah Kerajinan Kuningan di Kabupaten Pati
Management Analysis Journal Vol 3 No 2 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i2.3951

Abstract

The purpose of this study was to determine the effect of profitability, sales growth, firm size, and age of the company on the capital structure. The population in this study was 40 Micro, Small and Medium Enterprises (SMEs) in Pati regency brass handicrafts. Samples were taken using a sampling method that is saturated by using the whole population there is as much as 40 SMEs. Methods of data analysis used in this study is multiple linear regression. The results showed variable profitability pelelitian significant positive effect on capital structure, sales growth variable significant positive effect on capital structure, company size significantly negative on capital structure, and firm age significant positive effect on the capital structure. The conclusions of this study are variable profitability, sales growth, firm size, and firm age are all factors that determine the capital structure of SMEs. For further research in order to add some other variables than those used in this study in order to find a more varied results
Pengaruh Citra dan Kepercayaan terhadap Loyalitas Nasabah melalui Kepuasan Nasabah
Management Analysis Journal Vol 3 No 2 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i2.3952

Abstract

The purpose of this study is to determine the effect of directly or indirectly image and confidence in the loyalty through customer satisfaction of BRI Unit Sedan, Branch Rembang. The populations in this research are customers of BRI Unit Sedan, Branch Rembang. The number of samples taken in this study were 100 clients by using purposive sampling. Data collection methods used is questionnaires and documentation. Analysis of the data used is descriptive analysis and path analysis. The results of this study indicate that there is the influence of image and trust on customer loyalty through customer satisfaction BRI Unit Sedan, Branch Rembang. The conclusions of this study is the higher the company's image, it will increase satisfaction and loyal ty. And for the trust, the higher the trust, it will increase customer satisfaction and loyalty as well
Current Ratio, Debt to Equity Ratio, Total Asset Turnover, Return on Asset, Price to Book Value sebagai Faktor Penentu Return Saham
Management Analysis Journal Vol 3 No 2 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i2.3953

Abstract

The purpose ofthis studyistoexamineandanalyze thefinancial ratio is measuredwithCurrent Ratio, Debt to Equity Ratio, Total Asset Turnover, Return On Asset, Price to Book Value towards share return. The populationin this study areallReal Estate and Property Industri Listed inthe indonesia stock exchange since period 2012-2013, with the total of47companys. Thestudysamplewas takenby purposive sampling method, with the total of 31company. This study usesdata analysisof multiple linear regression analysis to estimated of dependent variable’s value from independent variable’s. Based onthe research results, it can be known that only price to book value has a significant effect toward share return and for current ratio, debt to equity ratio, total asset turnover, return on asset has not a significant effect toward share return.
Pengaruh Kreativitas Iklan dan Endorser terhadap Proses Keputusan Pembelian Konsumen Mie Sedaap
Management Analysis Journal Vol 3 No 2 (2014): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v3i2.3954

Abstract

The problem in this research is how creativity and endorsers influence the purchase decision process. The purpose of this study was to investigate the influence of advertising creativity and endorser of the purchase decision process. The population in this study is the Faculty of Economics, University of Semarang and consume ever watched an ad Mie Sedaap. The sample usedis determinedby the cluster sampling a total sample of 98 respondents. Methods of data analysis using descriptive analysis and multiple linear regression are in byusing SPSS22. The results showed that simultaneous hypothesis testing and endorser advertising creativity positive and significant impacton the buying decision process. While the partial test results show that advertising creativity positive and significant impacton the buying decision process while the endorser is also positive and significant impacton the buying decision process.The conclusionsin this study is the better creativity the nadvertising will in crease the purchase decision process and the better the endorser is used, it will increase the purchase decision process and the buying decision process would increase if advertising and endorser creativity is also enhanced

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