{"title":"Board of Directors Structure and Firm Performance: Evidence from Indonesia and Malaysia","authors":"Elisa Fajarwati, R. S. Witiastuti","doi":"10.15294/maj.v11i1.51672","DOIUrl":"https://doi.org/10.15294/maj.v11i1.51672","url":null,"abstract":"The purpose of this study is to identify the influence of board size, independent director, board meeting frequency and women director on firm performance. Type of this research is a quantitative research using secondary data. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange and Bursa Malaysia in 2015-2019. The sampling method used was purposive sampling consisting of 120 companies in Indonesia Stock Exchange and 209 companies in Bursa Malaysia. The data analysis method used is multiple regression analysis which is preceded by the selection of a panel data estimation model using the Eviews 9 software. The results of the model test show that the best panel data estimation model is using the random effect model. The results showed that board size and board meeting frequency have a significant positive effect on the performance of manufacturing companies in Indonesia Stock Exchange and Bursa Malaysia. Independent directors has a significant positive effect on firm performance in Bursa Malaysia, but have a significant negative effect on firm performance in Indonesia Stock Exchange. Women directors has a significant positive effect on firm performance in Indonesia Stock Exchange, but has significant negative effect on firm performance in Bursa Malaysia.","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47300250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Ridloah, Rizkia Duwi Putri, V. Noekent, Achmad Nauval Waliuddin
{"title":"Dividend Policy and Stock Price Volatility: A Study on Indonesian Manufacturing Companies","authors":"S. Ridloah, Rizkia Duwi Putri, V. Noekent, Achmad Nauval Waliuddin","doi":"10.15294/maj.v11i1.53223","DOIUrl":"https://doi.org/10.15294/maj.v11i1.53223","url":null,"abstract":"The purpose of this study was to examine and analyze the effect of dividend policy on stock price volatility in manufacturing companies listed on Indonesia Stock Exchange from 2019-2020. This study also examines other factors that ar thought to have an effect on dividend policy and stock price volatility, such as: firm size, earning voolatility, and leverage. This research method uses a quantitative approach, using secondary data derived from the company’s annual financial report. Purposive sampling method uses in this study. The sample used was 62 companies with a total of 124 observations. This study use multiple regression method. SPSS 16 is an analytical tool used in this study. The empirical findings of this study indicate that dividend policy has a negative effect on stock price volatility. If the dividends paid increases, the possibility of stock price volatility will decrease. The control variable of firm size dan leverage have no effect on stock price volatility. Furthermore, it is also found that there is a positive influence between the control variable of earning volatility and stock price volatility.","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44182212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Transformational Leadership and Perceived Leadership Effectiveness on Organizational Commitment of Public Sector Workers in Kwara State, Nigeria","authors":"Abdulmumin Yinka Ajia","doi":"10.15294/MAJ.V10I1.43641","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.43641","url":null,"abstract":"The importance of leadership in organizational outcome cannot be overstated. This study showed that perceived leadership effectiveness predicts positive organizational outcome in Nigeria better than transformational leadership when paired together. However, because of its inherent positive attributes, transformational leadership when augmented by leadership effectiveness and practices can make public institutions more effective and efficient in its service delivery and in its response to the citizenry. Findings from this survey research support the general theory that leadership is a major determinant of organizational outcome and supports the universal applicability of transformational leadership theories. Article Information Article History: Received December 2020 Approved January 2021 Published March 2021","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"115-130"},"PeriodicalIF":0.0,"publicationDate":"2021-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46121466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Effect of Tourism Experience on Revisit Intention through Destination Image and Satisfaction","authors":"Noveliana Violla Atmari, V. W. Putri","doi":"10.15294/MAJ.V10I1.45503","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.45503","url":null,"abstract":"The purpose of this study to examine the influence of tourism experience on revisit intention mediated by destination image and satisfaction. Sampling technique using the accidental sampling and purposive sampling with sample of 240 respondents. Respondents were taken from visitors who had been to Sanggaluri Park Purbalingga twice or more and aged 17 years or over. Method of data collection using the questionnaire. The data analysis method uses the Structural Equation Model Partial Least Square (SEM-PLS) with the Smartpls program. The direct test result show the result of tourism experience has a direct effect on destination image, tourism experience has a direct effect on satisfaction, tourism experience has a direct effect on revisit intention. Article Information Article History: Received March 2021 Approved March 2021 Published March 2021","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"85-94"},"PeriodicalIF":0.0,"publicationDate":"2021-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48521772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Financial Performance Comparation of Private and Government Bank: Rural Bank Case","authors":"Syam Widia, Widya Prananta","doi":"10.15294/MAJ.V10I1.46009","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.46009","url":null,"abstract":"The purpose of establishing rural bank/ Bank Perkreditan Rakyat known as BPR is to improve the regional economy through credit as financial support for inclusive society. Meanwhile, the contribution of BPR/BPRS (Conventional/Sharia) owned by the Local Government to the regional economy is still small in number. It reflected in the share of productive loans/financing channeled by Local Government BPR lower than private BPR/BPRS. This study aims to Analyze Performance Difference in Private Rural Banks and Rural Banks Owned by Local Government in Central Java Province using financial performance ratios. The financial performance ratios were Capital Adequacy Ratio (CAR), Quality of earning assets, Non-Performing Loan (NPL), Loan to Deposit Ratio (LDR), and Return on Assets (ROA). The method used to analyze data is Different Tests using Independent T-test. This study used SPSS Version 23 analysis tool. The sample of this research is BPR owned by Local Government of Central Java, and Private owned BPR in Central Java Province from 2016 to 2019. Selection of sample by using purposive sampling. Based on Independent T-Test, there is a difference in the ratio of Quality of earning assets and LDR between BPR owned by Local Government and Private Rural Bank, while for the ratio of NPL, CAR, and ROA there is no difference. Article Information Article History: Received March 2021 Approved March 2021 Published March 2021","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"77-84"},"PeriodicalIF":0.0,"publicationDate":"2021-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42763309","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Heterogeneity of Speed of Adjustment Capital Structure Across Industrial Sectors","authors":"Bibit Robiatun, R. S. Witiastuti","doi":"10.15294/MAJ.V10I1.45317","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.45317","url":null,"abstract":"This study aims to analyze heterogeneity of speed of adjustment on basic industry, consumer goods, and misceleeneous companies. The population in this study uses basic industry, consumer goods, and miscellenoeus companies listed on the Indonesia Stock Exchange in 2009-2018 period. The method of determining the sample using a pusposive sampling technique based on criteries determined by researchers. We employ two-step partial adjustment model and use measure of book leverage and firm characteristic; profitability, size, tangibility, and growth which has an influence leverage target to estimate speed of adjustment. For three industries, there is evidence of heterogeneity of speef adjustment. The result showed that speed of adjustment 24% of basic industry, 37.1% of consumer goods, and 27.3% of miscellaneous industry. Article Information Article History: Received February 2021 Approved March 2021 Published March 2021","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"103-114"},"PeriodicalIF":0.0,"publicationDate":"2021-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42429831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gender Diversity, Board Composition, Intellectual Capital and Its Effect on Firm Performance","authors":"Rehgita Ayu Lestari","doi":"10.15294/MAJ.V10I1.45522","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.45522","url":null,"abstract":"The purpose of this study was to analyze the influence of gender diversity, board of directors, board of commissioner, independent commissioner, and intellectual capital on firm performance. The population in this study is all consumer goods industry sector companies listed on the Indonesia Stock exchange for the period 2014-2018. Sampling in this study using purposive sampling, as many as 40 companies were selected as samples with a total 200 observation. The analysis method used in this research is regression analysis with fixed effect model approach and hypothesis testing. The result showed that the board of directors, the proportion of independent commissioner, and intellectual capital have positve and significant effect on firm performance. Menwhile, gender diversity and the board of commissioner have no effect on firm performance. The advice provide is for investors and companies to pay attention and conside the variables that effect on firm performance such as the board of directors, the proportion of independent commissioners and intellectual capital as a consideration to assess the firm performance. As forfurther research, the gender diversity variable can be measured using other proxies such as the blau index or so on. Firthermore, researcher are also expected to add other independent variables that affect on firm performance such as political connection, firm size, and manajerial ownership. Article Information Article History: Received March 2021 Approved March 2021 Published March 2021","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"62-76"},"PeriodicalIF":0.0,"publicationDate":"2021-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46639035","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Mediated Moderation Model: Personality, Team Psychological Safety and Team Performance","authors":"Tarman Budianto","doi":"10.15294/MAJ.V10I1.45586","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.45586","url":null,"abstract":"Team performance as the foundation of organization in dealing with the complexity of the work and increasing the its competitiveness. Literature have shown that team psychological safety is an important predictor of team performance. This study use Trait Activation Theory to develop and present a model that aims to find the interaction between personality, team psychological safety and team performance. Regarding personality framework, this study uses the perspective of The Five-Factor Model. The results suggest that: First, the indirect effects of Conscientiousness personality on team performance will be stronger in (a) work that requires freedom and (b) work with high attention/detail requirements. Second, the indirect effects of extraversion personality on Team performance will be stronger in (a) jobs that require high social skills, (b) jobs with a high level of competition requirements, and (c) work where someone must often deal with unpleasant responses. Third, the indirect effect of openness personality on team performance will be stronger in (a) work that requires freedom and (b) work with high requirements of creativity.","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"95-102"},"PeriodicalIF":0.0,"publicationDate":"2021-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47893923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Control Mechanisms and Leadership Styles: A Conceptual Framework for Innovation Projects","authors":"Andy Susilo Lukito-Budi","doi":"10.15294/MAJ.V10I1.42688","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.42688","url":null,"abstract":"This is a conceptual paper discussing how to undertake innovation in an organization as a project, and the components of the structure and leadership style as factors that support the implementation of the project. It reviews previous research related to organizational, leadership and control theories. It focuses on introducing the role of leadership and control structures into innovation projects. The suggested structure to be adopted is a mixed combination of organic and mechanical structures. This article argues the importance of the existence of a control mechanism to regulate the project; this functions as a set of tools to control the dynamics of the organizational structure in the project. It also reveals transformational leadership as the most suitable leadership style to control and deliver a successful innovation project. At the end, this article proposes several propositions to be tested further in empirical work. Some discussions about optional research methods are also presented. Article Information Article History: Received November 2020 Approved January 2021 Published March 2021","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"11-22"},"PeriodicalIF":0.0,"publicationDate":"2021-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42011955","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Organizational Justice and Organizational Citizenship Behavior: The Mediating Roles of Organizational Commitment and Leader Member Exchange","authors":"Aditya Fuad Hasyim, Palupiningdyah Palupiningdyah","doi":"10.15294/MAJ.V10I1.43916","DOIUrl":"https://doi.org/10.15294/MAJ.V10I1.43916","url":null,"abstract":"This study aims to examine the effect of organizational justice on organizational citizenship behavior with organizational commitment and leader-member exchange as mediating variables for sewing employees of PT. Apparel One Indonesia 1. The sample used is 92 respondents with the sampling technique using purposive sampling. The data collection method used a questionnaire. Methods of data analysis using descriptive statistical tests with analysis tools, namely SmartPLS 3.0. The conclusion of this study is that organizational justice cannot improve organizational citizenship behavior either directly or through organizational commitment. However, organizational justice can increase organizational citizenship behavior only when through mediation of leader-member exchange. Recommendations for companies are that during the recruitment process, it is better to choose employees who are truly competent so that tasks can be distributed according to the employees’ abilities. In addition, employees must be involved in every decision making so that employees will feel needed and recognized which in turn will bring out commitment to employees Article Information Article History: Received November 2020 Approved December 2020 Published March 2021","PeriodicalId":31589,"journal":{"name":"Management Analysis Journal","volume":"10 1","pages":"1-10"},"PeriodicalIF":0.0,"publicationDate":"2021-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49417207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}