Jurnal Ilmu Manajemen dan Ekonomika

Do Investment Decisions Matter for Firm Value? An Empirical Analysis of Financial Firms

Yosua — 2025-12-24

This study examines the impact of investment decisions, dividend policy, profitability, and firm size on firm value in financial sector companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023. Employing a quantitative approach with purposive sampling, 25 financial companies were selected based on specific criteria, including consistent listing, dividend distribution, and financial reporting in Indonesian Rupiah. Classical assumption tests confirmed the validity of the regression model, and hypothesis testing was conducted using F-test and t-test. The findings reveal that profitability has a significant positive effect on firm value, while dividend policy and investment decisions do not exhibit a significant impact. Interestingly, firm size shows a significant negative effect, possibly due to regulatory pressures and post-pandemic operational challenges. These results highlight the dominant influence of regulatory compliance and investor focus on financial performance rather than expansion-oriented strategies. The adjusted R² value of 0.230 indicates that 23% of the variation in firm value is explained by the studied variables, suggesting that other factors outside the model may also significantly influence firm value.

The Impact of Lifestyle, Price and Brand Image on Purchasing Decisions of iPhone Consumers In Semarang City

Katherine Grasia Septiana — 2025-12-24

The current rapid development of smartphone technology, with innovations increasingly enriching the user experience. iPhones are in high demand due to several key factors that make them different and more attractive to consumers compared to other smartphones. The purpose of this study is to determine how lifestyle, price, and brand image influence iPhone purchasing decisions in Semarang City. The population is people living in Semarang City. This research method is purposive sampling. Data were collected through Google Form and obtained 100 respondents. Using SPSS 24, the research findings show that consumer lifestyle in Semarang City does not significantly influence iPhone purchasing decisions. In Semarang City, iPhone purchasing decisions are influenced by price and brand image. Conclusion: Price and brand image influence purchasing decisions, these variables can increase purchasing decisions, while lifestyle does not influence purchasing decisions. Price and brand image can influence purchasing decisions simultaneously, so companies need to consider these two factors in their iPhone product marketing strategies.

The Influence of Search Engines and Generative AI on Trust, Satisfaction, and Purchase Intention: An Experimental Study

Widyarso Roswinanto — 2025-12-24

This study examines the effects of digital information search media (search engines versus generative AI) and product type (goods versus services) on consumer responses. Using a 2 × 2 factorial experimental design and ANCOVA analysis, data were collected from 146 respondents aged 20–40 years. The variables measured include trust, satisfaction, and purchase intention. The results show that media type has no significant effect on dependent variables, while product type significantly influences trust and satisfaction but not purchase intention. A significant interaction effect between media type and product type is found for trust and satisfaction, indicating that generative AI is preferred for goods, whereas both media perform similarly for services.

Correlation Between Data Adjustment and Property Time on Market: Evidence from Jakarta Indonesia

Edy Riyanto — 2025-12-24

Property valuation in emerging markets often relies on asking prices due to limited access to verified transaction data. This reliance requires a data-type adjustment to reduce the gap between asking and transaction prices. Meanwhile, literature suggests a potential relationship between price concessions and time on market (TOM). This study aims to examine whether listing duration is significantly correlated with the magnitude of data-type adjustment in Jakarta’s residential property market. Using 331 verified transaction data from the Directorate General of State Assets (DJKN), the research applies descriptive statistics, chi-square tests, and polychoric correlation analysis. The results show that although 67.7% of properties were sold within six months, no significant correlation was found between TOM and data-type adjustment (r = 0.08, p = 0.74). Instead, the role of intermediaries such as brokers and agents appeared to have greater influence on narrowing the gap between asking and transaction prices. The findings indicate that the price–duration trade-off commonly reported in developed markets does not apply in Jakarta. This study highlights the importance of empirical evidence in determining adjustment practices and provides practical implications for valuers, brokers, and policymakers in emerging markets.

The Effect Of Risk Management On Listed Indonesian Banking Financial Performance (Period 2019-2023)

Andito Wibisono Putra Susanto — 2025-12-24

This study aims to examine the influence of management risks including credit risk, liquidity risk, operational risk, and market risk on banking financial performance. The method used is quantitative with 33 samples of banks listed on the Indonesia Stock Exchange for the period 2019–2023. The sampling technique used purposive sampling. Data analysis was performed by multiple regression using Eviews12 software. The results of the study indicate that market risk (NIM) has a positive effect on (ROA) banking financial performance, while credit risk (NPL), liquidity risk (LDR), and operational risk (BOPO) have a negative effect on (ROA) banking financial performance. The study contributes to the testing of banking risk management using the perspective of agency theory and portfolio theory. The results of this study provide implications for regulators in implementing government policies to help banks reduce risk in improving banking financial performance. Implications for investors in considering and being careful in making investment decisions in banking companies.

The Influence of Social Media Marketing, Performance Expectancy, and Social Influence on Purchase Intention: Evidence from Bibit App

Mauliddinia Iftikhar Agnany — 2025-12-24

This study analyzes the influence of Social Media Marketing Activities (SMMA) on Brand Equity and Purchase Intention, as well as the impact of Brand Equity on Electronic Word of Mouth (E-WOM). Additionally, it examines the roles of E-WOM, Performance Expectancy (PE), and Social Influence (SI) in shaping Purchase Intention among Instagram followers of the Bibit investment application. Using a quantitative approach, data were collected from 100 respondents via convenience sampling. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The results indicate that SMMA significantly affects Brand Equity, and Brand Equity strongly influences E-WOM. However, SMMA and E-WOM were found to have no significant impact on Purchase Intention. In contrast, PE and SI proved to have a positive and significant influence on Purchase Intention. These findings suggest that for high-involvement products such as digital investment applications, functional value and social influence are more decisive in shaping purchase decisions than promotional activities or online recommendations.

Exploring Job Crafting Among State Civil Apparatus: A Descriptive Qualitative Study

Indri Hapsari Khansa — 2025-12-24

This study analyzes job crafting practices among civil servants at the Department of Manpower and Transmigration of East Java Province (Disnakertrans Jatim). Using a qualitative descriptive design, data were collected through in-depth interviews with five purposively selected employees. Thematic analysis reveals that employees engage in all three dimensions of job crafting, though the extent of implementation varies. Relational crafting emerged as the most dominant dimension for strengthening social capital and work coordination. Cognitive crafting is utilized by employees to redefine the meaning of their work, while task crafting remains limited to informal adjustments due to bureaucratic constraints. These findings underscore that job crafting serves as a crucial mechanism for employee adaptability in the public sector. Practically, this study recommends the need for flexible organizational structures, increased autonomy, and enhanced inter-unit collaboration to optimize public service performance.