Management Analysis Journal https://journal.unnes.ac.id/sju/index.php/maj en-US maj@mail.unnes.ac.id (Kris Brantas Abiprayu) maj@mail.unnes.ac.id (Tegar Setiawan) Wed, 06 Jun 2018 00:00:00 +0000 OJS 3.1.1.2 http://blogs.law.harvard.edu/tech/rss 60 Front Matter 7.2 https://journal.unnes.ac.id/sju/index.php/maj/article/view/27229 ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/27229 Sat, 17 Nov 2018 15:00:28 +0000 Winner Loser Anomaly in Indonesia https://journal.unnes.ac.id/sju/index.php/maj/article/view/22988 <p>This research examines the market overreaction on the mining companies listed in Indonesia Stock Exchange from 2013 to 2017. The population in this research are all of the mining companies that list in the Indonesia Stock Exchange. The sample are selected according to the criteria of purposive sampling method. Market overreaction are measured by the abnormal return and indicated with ACAR loser portfolio outperformed of ACAR winner portfolio. The result shows that the ACAR loser portfolio doesn’t outperform of ACAR winner portfolio. The significance value of one sample t-test more than 0,05. This research conclude that the overreaction phenomenon on the mining companies in Indonesia Stock Exchange was not found.</p> Rizki Amelia, Andhi Wijayanto ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/22988 Sat, 17 Nov 2018 13:51:55 +0000 The Effect of Perceived Usefulness and Perceived Risk to the Utilization of Internet Banking (Study on BRI Internet Banking Customers in Semarang City) https://journal.unnes.ac.id/sju/index.php/maj/article/view/27227 <p>This study aims to analyze the effect of perceived usefulness and perceived risk of consumers to internet banking utilization. The population of this study is the bank’s customers who use BRI’s internet banking in semarang city with the number of samples are 50 respondents by using purposive sampling technique. The result of this study shows that the significance value of simultaneous hypothesis test &lt; 0.05, thus H<sub>o</sub> is rejected. It means that H<sub>o</sub> stating both perceived usefulness and perceived risk variable significantly affect to the participation of BRI bank members in Semarang city is accepted. In addition, the partial hypothesis of t-test for the perceived usefulness variable is 5.949 with the significance value &lt; 0.05, thus H<sub>o</sub> is rejected. The test result of perceived risk variable obtained t count value equal to 3.925 with the significance value &lt;&nbsp; 0.05, then H<sub>o</sub> is rejected. It means that the performance of hypothesis (H<sub>1</sub>) stating the perceived usefulness and perceived risk variable significantly influence to the success of BRI bank in Semarang city is accepted. The conclusion of this study is that the higher perceived usefulness and perceived risk to the consumer will enhance the success of internet banking utilization. The recommendation for&nbsp; the future research is that they should consider other variables which have effect to the internet banking utilization.</p> Tubagus Fahmi, Bayu Wiratama ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/27227 Sat, 17 Nov 2018 14:26:05 +0000 The Influence of Service Quality and Store Atmosphere on Customer Loyalty through Customer Satisfaction https://journal.unnes.ac.id/sju/index.php/maj/article/view/23337 <p><em>This study aims to determine the direct indirect influence of </em><em>service quality</em><em>, </em><em>store atmosphere</em><em> and </em><em>customer satisfaction</em><em> as an intervening variabl</em><em>e</em><em> on </em><em>customer</em><em> loyalty. The population</em><em> of</em><em> this research is </em><em>customer of Martabak Platinum Ruby Pekalongan Cafe</em><em>. The number of sample is 1</em><em>16</em><em> respondents with purpose sampling technique through likert scale questionnaire. Data analysis using descriptive percentage and path analysis. The results show that </em><em>service quality</em><em> affect </em><em>customer</em><em> loyalty, </em><em>store atmosphere</em><em> affect </em><em>customer</em><em> loyalty and </em><em>customer satisfaction</em><em> influence </em><em>customer</em><em> loyalty and mediate the influence of </em><em>service quality</em><em> and </em><em>store atmosphere</em><em> on </em><em>customer</em><em> loyalty. </em></p> Fatin Furoida, Ida Maftukhah ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23337 Sat, 17 Nov 2018 14:29:59 +0000 The Effect of Meaning of Work and Psychological Empowerment on Affective Commitment with Work Engagement as an Intervening Variable https://journal.unnes.ac.id/sju/index.php/maj/article/view/23477 <p>This study aimed to determined the effect of meaning of work (X1) and psychological empowerment&nbsp; (X2) on affective commitment (Y2) with work engagement (Y1) as an mediating variable of Kesambi Hijau Hotel employees Semarang. This research is quantitative research. The population in this research is 49 employees. Sampling in this research using saturated sampling system, obtained sample size that must be used is 49 employees. Analytical methods used are instrument test (validity and reliability), classical asumption test, multiple linear regression test, and path analysis test with SPSS version 21. Data collection method using interview, qustionnaire, and library study. The results showed that all of hypothesis could be accepted. The results of this study demonstrated that meaning of work and psychological empowerment had a significant positive effect on affective commitment. Meanwhile, work engagement could be a mediating variable in the relationship between work engagement and psychological empowerment on affective commitment. Suggestion from this research that the organization should motivate employees to have spirit to achieve the goals and ilvolve employees in decision making so employees eill feel bound so that employees affective commitment will also increase.</p> Lia Diniyati, Ketut Sudarma ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23477 Sat, 17 Nov 2018 14:33:44 +0000 Catering Theory of Dividend in Dividend Policy: Evidence From Indonesia https://journal.unnes.ac.id/sju/index.php/maj/article/view/23030 <p>This study aims to examine the possibility of companies in paying dividend if there are&nbsp; investors demands for dividends. Researcher used purposive sampling for determine the sample.Sample are used as many as 527 companies with total&nbsp; are 4375 observations during 2007-2016. The data analysis technique used logistic regression in Eviews 9. The results show that&nbsp; investors demands for dividends (catering incentives) were measured by dividend premiums have a positive and significant correlation to dividend payout decisions. It means that companies have bigger probability for paying dividend if the are investors demands. Probability of companies to pay dividend up 2.19 times&nbsp; for increasing a unit of dividend premium.</p> Dewi Riyanti, Arief Yulianto ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23030 Sat, 17 Nov 2018 14:36:26 +0000 Influence of Store Atmosphere, Product Knowledge and Brand Image toward Purchase Decision through Word of Mouth https://journal.unnes.ac.id/sju/index.php/maj/article/view/23858 <p>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 &lt; 0.05. While the test of intervening obtained by the total value of the indirect &gt; direct effect, that store atmosphere of 0.1519 &gt; 0.142, product knowledge of 0.427 &gt; 0.327, and brand image of 0.5185 &gt; 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.</p> Iin Nur Aisah, Wahyono Wahyono ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23858 Sat, 17 Nov 2018 14:39:42 +0000 Television Advertising Effectiveness in Mediating Advertising Creativity and Advertising Frequency Influence toward Customer Purchase Intention https://journal.unnes.ac.id/sju/index.php/maj/article/view/23543 <p>The purpose of this study is to examine the direct and indirect influence of television advertising creativity and advertising frequency on purchase intention using advertising effectiveness as a mediation variable. Purchase intention influencing customers to purchase decision. Without any purchase intention, customer will not visit to e-commerce site. The respondents in this study were customer e-commerce JD.id in Semarang City. The sample in this study is intended as the representative of total population,116 sample who were taken by purposive sampling technique. This research utilized path analysis method with SmartPLS 3.0 program. Based on the hypothesis test, the results show that the advertising creativity was significantly has positive effect on purchase intention, but advertising frequency has no significant effect on purchase intention. In addition, advertising effectiveness significantly have positive effect on purchase intention. Mediation test shows that advertising effectiveness mediates the effect of the advertising creativity and advertising frequency on customer purchase intention.</p> Yogi Saputro, Dorojatun Prihandono ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23543 Sat, 17 Nov 2018 14:41:01 +0000 The Influence of Institutional Ownership, Profitability, Liquidity, Dividend Policy, Debt Policy on Firm Value https://journal.unnes.ac.id/sju/index.php/maj/article/view/24878 <p>The purpose of this study is to determine whether institutional ownership, Return on Assets (ROA), Return on Equity (ROE), current ratio (CR), dividend payout ratio (DPR), and debt to equity ratio (DER) affects the firm value. The population is manufacturing companies which is listed in Indonesia Stock Exchange period 2012-2016. The sample in this study is 14 companies with purposive sampling method. Firm value is proxied by Price to Book Value (PBV), profitability is proxied by Return on Assets &nbsp;(ROA) and Return on Equity &nbsp;(ROE), liquidity is proxied by Current ratio (CR), dividend policy is proxied by Dividend Payout Ratio (DPR), and debt policy is proxied by Debt to equity ratio (DER). Methods of data analysis using descriptive statistical analysis and multiple regression analysis by using a eviews 9 program. The result show that th institutional ownership, ROA, and DPR have no effect on firm value, ROE have positive effect on firm value, CR and DER have negative effect on firm value.</p> Dewi Sukmawardini, Anindya Ardiansari ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/24878 Sat, 17 Nov 2018 14:43:15 +0000 The Effect of Work Overload on Job Performance with Emotional Exhaustion as Mediating Variable (Study at Employee of Production Department PT. ROYAL KORINDAH Purbalingga) https://journal.unnes.ac.id/sju/index.php/maj/article/view/23838 <p>The purpose of this study was to deteminate the influence of work overload on job performance the mediating of emotional exhaustion. The population of this study is employees of PT. Royal Kotindah Purbalingga. A total samples is 96 employees, and used proportionate random sampling. Methods of data collection used documentation &nbsp;&nbsp;&nbsp;and quetionnaires. Methos of data analysis used descriptive analysis, classical assumption test, regression analysis, and path analysis. Data analysis used SPSS softwere for windows version 21. The result of this study show that work overload and emotional exhaustion have a negatiff significant effect on job performance. In addition, the result also show that work overload have a positive significant on emotional exhaustion. Futhermore, this study finds that emotional exhaustion mediates the relationship work overload on job performance.</p> Novi Astuti, Palupiningdyah Palupiningdyah ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23838 Sat, 17 Nov 2018 14:46:50 +0000 Pull Factor and Push Factor Influences on the Volatility of Foreign Investment Flows in Indonesian Capital Market https://journal.unnes.ac.id/sju/index.php/maj/article/view/23854 <p>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&nbsp; Conditional Heteroscedasticity&nbsp; (ARCH) and Generalized&nbsp; Autoregressive&nbsp; Conditional&nbsp; 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<strong>)</strong>. 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.</p> Chakimatuzzahroh Chakimatuzzahroh, Rini Setyo Witiastuti ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23854 Sat, 17 Nov 2018 14:49:31 +0000 Impact of Empowering Leadership on Employee Creativity by Motivation to Learn and Trust in Leader as a Mediation https://journal.unnes.ac.id/sju/index.php/maj/article/view/25141 <p>The purpose of this study is to determine the effect of empowering leadership on the employee creativity by motivation to learn and trust in leader as a mediation variable. The population in this study is all State-Owned Bank Employees in Semarang City. Methods of data collection using observation, interviews, and questionnaires. Sampling technique using multi-stage sampling technique. The sample size is 220 people. Methods of data analysis using descriptive analysis, goodness-fit model analysis, regression analysis, and path analysis. Data analysis using Structural Equation Model (SEM) with WarpPLS version 6.0. The results show that empowering leadership positively influences motivation to learn, trust in leader, and employee creativity. In addition, the results of the study also showed that motivation to learn and trust in leader have a positive effect on employee creativity. Furthermore, the motivation to learn and trust in the leader is able to mediate between empowering leadership on employee creativity. The conclusion of this research is to produce a creative employee, it takes the role of a leader who can empower his subordinates. The ability of leaders to empower their subordinates will have a good impact on their employees, especially increasing the motivation to learn and trust in leaders. So that employees are optimal in expressing their creativity in the workplace. Suggestions for state-owned banking management that is more able to pay attention to the needs of employees and give confidence in subordinates to participate in solving problems.</p> Yayuk Fitriani, Nury Ariani Wulansari ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/25141 Sat, 17 Nov 2018 14:52:59 +0000 Does Sharia Banking Performance Have Varietion between the Region? https://journal.unnes.ac.id/sju/index.php/maj/article/view/23843 <p>The purpose of this research is to know the geographical influence on the performance of Islamic banking which are in different regions. The population in this research is the whole Islamic banking that operations in four regions (Asia, America, Europe, and Africa). Sample based on purposive sampling method there are 16 Islamic banking which comprises 13 banks came from the Asian continent, 1 bank of Americas, 1 banks from continental Europe, and 1 bank comes from the African continent. Methods of analysis used in this study are the analysis of multiple linear regression analysis tools with Eviews 9. The results of the research show that the geographical location of positive and significant effect on the performance of Sharia banking. Variable non-performing financing (NPF) a negative and significant effect on the performance of Sharia banking. Financing to Deposit Ratio (FDR) positive significant effect on the performance of Islamic banking while the Debt to Equity Ratio (DER) does not affect the performance of Islamic banking.</p> Rini Listia Mugiarti, Moh. Khoiruddin ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/23843 Wed, 06 Jun 2018 00:00:00 +0000 Back Matter 7.2 https://journal.unnes.ac.id/sju/index.php/maj/article/view/27230 ##submission.copyrightStatement## https://journal.unnes.ac.id/sju/index.php/maj/article/view/27230 Sat, 17 Nov 2018 15:02:08 +0000