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Company Value Before and During COVID-19: Evidence from the Property and Real Estate Industry in Indonesia 2019冠状病毒病之前和期间的公司价值:来自印度尼西亚房地产行业的证据
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.1.3
W. M. Daryanto
Abstract. The objective of this research is to gauge the impact of financial performance and maturing long-term debt on firm's value during the COVID-19 pandemic. The study comprises the collection of data on nine big property-sector companies and analysis via quantitative methods, namely panel-data-regression models. Its results demonstrate that only commercial property revenue and COVID-19 had a substantial negative impact on firms’ value. Meanwhile, F-Test findings indicate that the independent variable had an influence on the firms’ value, at a p-value of (0.0037). This means that commercial property income may be used to describe the worth of major firms in the property sector, which investors should consider when selecting investments. Furthermore, property- and real- estate-sector companies should provide policies and regulations to safeguard commercial income toward maintaining their assets and surviving in the COVID-19 era. This study fills a research gap by exploring effects on the property and real estate industry during the COVID-19 crisis, as a benchmark for comparison. Keywords: COVID-19, firm value, financial performance, maturing long-term debt
摘要本研究的目的是衡量2019冠状病毒病大流行期间财务业绩和到期长期债务对公司价值的影响。该研究收集了九家大型房地产公司的数据,并通过定量方法(即面板数据回归模型)进行了分析。其结果表明,只有商业地产收入和COVID-19对公司价值产生实质性的负面影响。同时,f检验结果表明,自变量对企业价值有影响,p值为(0.0037)。这意味着商业地产收入可以用来描述房地产行业主要公司的价值,这是投资者在选择投资时应该考虑的。此外,房地产和房地产企业应制定政策和法规,保障商业收入,以维护资产并在新冠肺炎时代生存。本研究通过探索新冠肺炎危机对房地产行业的影响,填补了研究空白,作为比较的基准。关键词:新冠肺炎,企业价值,财务绩效,到期长期债务
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引用次数: 0
The Role Of Work From Home In Improving Work–Life Balance 在家工作在改善工作与生活平衡中的作用
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.1.7
Eka Warmi Yanti, N. A. Wulansari
Abstract. The purpose of the study was to examine the impact of work from home on work–life balance through work engagement. The population of the study included staff from Badan Pendapatan Pengelolaan Keuangan dan Aset Daerah (BPKAD) of the Jalur Pantura (Blora, Rembang, and Pati). The number of samples was calculated based on the method of maximum likelihood estimation (MLE) proposed by Hair et al., and a total sample of 120 respondents was obtained using the proportional random sampling method. The data were collected through questionnaires. The data analysis method used partial least squares structural equation modeling (PLS-SEM) with the SmartPLS 3.0 test tool. Results show that home-based work has a negative and marginal impact on work–life balance and a positive and significant impact on work engagement. Further, work engagement has a positive and significant impact on work–life balance. Indirect results indicate that work engagement may mediate the effects of work from home on work–life balance. Keywords: Work from Home, Work Engagement, Work–Life Balance, Public Sector, State Civil Apparatus
摘要本研究的目的是通过工作投入来检验在家工作对工作与生活平衡的影响。研究对象包括Jalur Pantura (Blora、Rembang和Pati)的Badan Pendapatan Pengelolaan Keuangan dan Aset Daerah (BPKAD)的工作人员。样本数量根据Hair等人提出的最大似然估计(MLE)方法计算,采用比例随机抽样方法获得120名受访者的总样本。数据是通过问卷调查收集的。数据分析方法采用偏最小二乘结构方程模型(PLS-SEM),使用SmartPLS 3.0测试工具。结果表明,在家工作对工作与生活的平衡有负向的边际影响,对工作投入有正向的显著影响。此外,工作投入对工作与生活平衡有显著的正向影响。间接结果表明,工作投入可能中介在家工作对工作与生活平衡的影响。关键词:在家办公,工作投入,工作与生活平衡,公共部门,国家民用机构
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引用次数: 0
Measuring The Gig Economy in Indonesia: Typology, Characteristics, and Distribution 衡量印尼零工经济:类型、特征和分布
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.3.7
M. Y. Permana, N. Izzati, Media Wahyudi Askar
Abstract. Work in the gig economy is defined as short-term and task-based jobs mediated by digital platforms. In Indonesia, the emergence of an online motorcycle taxi driver platform in 2015 marked the discourse about the gig economy as the future alternative of jobs on the one hand, and as a new form of exploitation of labor on the other hand. This study is the first to define the typology of the gig economy and identify the platforms of the gig economy service providers in Indonesia. Furthermore, this study estimates the number of gig economy workers by using micro data from the National Labor Force Survey (Sakernas) released by the Central Statistics Agency. It was found that 0.3 to 1.7% of Indonesian workers participated in the gig economy as their primary job. This study also compares the characteristics of gig workers in the transportation sector and in the other service sectors with the overall demographics of the workforce. It was found that gig workers shared more characteristics with the formal workers than with the informal workers. Finally, this study maps the distribution of gig workers throughout Indonesia at the city/district level. It can be concluded that the gig economy is an urban phenomenon. Most gig workers in the transportation sector are concentrated in the provincial capital and in Metropolitan Jakarta. Meanwhile, gig workers in other service sectors are distributed more in tier 2 cities in Java. Keywords: Gig economy, gig worker, digital worker, labor economics, jobs
摘要零工经济中的工作被定义为以数字平台为中介的短期任务型工作。在印度尼西亚,2015年在线摩托车出租车司机平台的出现,一方面标志着“零工经济”作为未来替代工作的话语,另一方面也是一种新的劳动剥削形式。这项研究首次定义了零工经济的类型,并确定了印尼零工经济服务提供商的平台。此外,该研究还利用中央统计局发布的全国劳动力调查(Sakernas)的微观数据估算了零工经济工作者的数量。调查发现,0.3至1.7%的印尼工人将零工经济作为他们的主要工作。本研究还比较了交通运输部门和其他服务部门零工工人的特征与劳动力的总体人口结构。研究发现,零工工人与正式工人相比,具有更多的共同特征。最后,本研究绘制了印尼城市/地区零工的分布情况。可以得出结论,零工经济是一种城市现象。交通运输部门的大多数零工工人集中在省会和大都市区雅加达。与此同时,其他服务行业的零工更多地分布在爪哇的二线城市。关键词:零工经济,零工工人,数字工人,劳动经济学,就业
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引用次数: 0
Consumers Choice Decision Towards Electric and Conventional Motorcycles 消费者对电动摩托车和传统摩托车的选择决定
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.1.1
P. F. Belgiawan, Nadine Maura Ikhsani, S. Arsallia
Abstract. Air pollution is one of the most pressing emerging issues in Indonesia. To reduce emissions, people need to shift from conventional to electric motorcycles (EM). However, the number of conventional motorcycles (CM) in Indonesia is still far above electric, and there is no certainty whether the market will adopt it. Therefore, this research aims to identify significant factors that influence consumers’ decision in choosing electric or conventional motorcycles and to identify preferred motorcycle type, as well as to calculate the elasticity of each factor. Choice modeling analysis is used to estimate the probability of choosing motorcycles and the attributes that influence the decision. Data is collected through an online survey sent to 470 respondents. This research used three methods in processing the data: factor analysis, multinomial logistic regression, and demand elasticities analysis. Based on the result of this research, it is found that the significant factors are purchase price, charging times, driving range, and attitude towards each motorcycle type. Additionally, it is found that most of the respondents prefer electric motorcycles to conventional ones. The results suggested that motorcycles manufacturers should consider selling EM with lower prices, develop fast charging technology, and improve driving range, while the government should provide incentives for EM users. Therefore, this research supports findings to decrease air pollution in Indonesia by increasing the use of EM. Keywords: Electric vehicles, motorcycles, choice modeling, significant factors, stated preference
摘要空气污染是印尼最紧迫的新问题之一。为了减少排放,人们需要从传统摩托车转向电动摩托车(EM)。然而,印尼传统摩托车(CM)的数量仍然远远高于电动摩托车,市场是否会采用它也不确定。因此,本研究旨在找出影响消费者选择电动或传统摩托车决策的重要因素,并确定偏好的摩托车类型,并计算每个因素的弹性。选择建模分析用于估计选择摩托车的概率和影响决策的属性。数据是通过向470名受访者发送的在线调查收集的。本研究使用因子分析、多项逻辑回归和需求弹性分析三种方法来处理数据。根据本研究的结果,发现购买价格、充电次数、续驶里程和对每种摩托车类型的态度是影响车主购买摩托车的显著因素。此外,我们发现大多数受访者更喜欢电动摩托车而不是传统摩托车。结果表明,摩托车制造商应考虑降低电动汽车的销售价格,发展快速充电技术,提高续驶里程,而政府应对电动汽车用户提供激励措施。因此,本研究支持通过增加EM的使用来减少印度尼西亚空气污染的研究结果。关键词:电动汽车,摩托车,选择模型,显著因素,声明偏好
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引用次数: 0
Entrepreneurial Orientation and Marketing Performance: The Mediating Role of Energizing Professional Networks 创业导向与营销绩效:激励职业网络的中介作用
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.2.5
Sisno Riyoko, Widodo Widodo
Abstract. This article addresses the study controversy (research gap) of entrepreneurial orientation regarding marketing performance. The case study at hand, fashion SMEs, must present a distinct advantage due to intense competition. This advantage does not lie in how to create new products, but in how to build professional networks. Hence, the present article aims to develop a model for strengthening professional networks based on an entrepreneurial orientation to improve marketing performance. The population in this study comprises the leaders of fashion SMEs in Central Java, Indonesia. The sampling method employs a purposive 250 technique. The analysis technique uses SEM AMOS software. The results of the study show that proactiveness, risk-taking, and innovation have a significant and positive effect on professional network energy and marketing performance. In addition, the energy of professional networks mediates a strong relationship between proactiveness, risk-taking, and innovation in terms of marketing performance. Keywords: Proactiveness, risk-taking, innovativeness, energizing professional networks, marketing performance
摘要本文解决了创业导向与营销绩效的研究争议(研究缺口)。在激烈的竞争中,时尚中小企业必须呈现出明显的优势。这种优势不在于如何创造新产品,而在于如何建立专业网络。因此,本文旨在建立一个基于创业导向的专业网络强化模型,以提高营销绩效。本研究的人口包括印度尼西亚中爪哇时尚中小企业的领导者。抽样方法采用有目的的250技术。分析技术采用SEM AMOS软件。研究结果表明,主动性、冒险精神和创新精神对职业网络能量和营销绩效有显著的正向影响。此外,在营销绩效方面,专业网络的能量在主动性、冒险精神和创新之间具有很强的中介关系。关键词:主动性、冒险性、创新性、激活专业网络、营销绩效
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引用次数: 0
A Hydroponic Vegetable Business Development Strategy: A Case Study of CV Casa Farm 水培蔬菜经营发展策略:以CV Casa农场为例
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.3.1
Ayutyas Sayekti, Deta Alifia Almi Putri
Abstract. The Business Development Strategy for CV Casa Farm emerged from an analysis of the external and internal environments mapped using a SWOT matrix with a focus on weaknesses and opportunities. Several production problems, such as yellowing of vegetables, rotting roots, and the spread of disease that caused production failures and planting media waste, could be reduced to minimize costs and increase productivity to meet the demand for vegetables in the city of Bandung. Problems were also identified with management and governance, such as overlaps in the allocation of tasks causing unfavorable work performance and decreased productivity. Applying IoT technology could increase vegetable weight by 37.7% and reduce production failures from 12.85% to 7.14%. Based on non-financial factors, including the market, production, organization and management, human resources, and collaboration, the implementation of IoT technology was judged to be feasible. Based on a financial and partial analysis, the investment feasibility obtained NPV> 0 of Rp1,247,103,045.33, with a Net B/C value of 2.63, Gross B/C of 1.62, IRR acquisition of 31%, a payback period of four years and three months, and an increased profit of Rp27,849,345.00, the business development strategy was judged to be feasible using IoT Simon Kori technology because it met the investment criteria and brought additional benefits. In the sensitivity analysis, a 20% decrease in the product selling price was shown to have an impact on the feasibility of implementing IoT. An incremental net benefit analysis indicates that the net benefit from applying IoT technology would be Rp2,402.477,276.13. Keywords: CV Casa Farm, hydroponic vegetable, IoT technology, productivity improvement, SWOT
摘要CV Casa Farm的业务发展战略是通过使用SWOT矩阵对外部和内部环境进行分析得出的,重点是弱点和机会。可以减少一些生产问题,如蔬菜发黄、根部腐烂以及导致生产失败和种植介质浪费的疾病传播,以尽量减少成本并提高生产力,以满足万隆市对蔬菜的需求。还确定了管理和治理方面的问题,例如任务分配中的重叠导致不利的工作绩效和生产力下降。应用物联网技术可使蔬菜重量提高37.7%,使生产不良率从12.85%降低到7.14%。基于市场、生产、组织管理、人力资源、协作等非财务因素,判断物联网技术的实施是可行的。通过财务和局部分析,投资可行性获得NPV>为Rp1,247,103,045.33,净B/C值为2.63,总B/C值为1.62,IRR收购率为31%,投资回收期为四年零三个月,增加利润为Rp27,849,345.00,使用IoT Simon Kori技术的业务发展策略符合投资标准并带来额外收益,因此判断为可行。在敏感性分析中,产品销售价格下降20%会对实施物联网的可行性产生影响。增量净效益分析表明,应用物联网技术的净效益为Rp2,402.477,276.13。关键词:CV Casa农场,水培蔬菜,物联网技术,生产率提高,SWOT
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引用次数: 0
Customer Relationship Proneness: Is It Important for Customer Loyalty? 顾客关系倾向:对顾客忠诚重要吗?
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.2.2
Mauritz Edo Soumutul
Abstract. As customer satisfaction and loyalty are crucial elements in increasing company profits, companies must strive to establish good relationships with customers, including in mobile services. Opinions in previous research differ regarding the effect of customer extroversion on satisfaction toward impacting customer loyalty. The present study provides related input and potential solutions. It employs relationship marketing theory with the mediating variable of customer relationship proneness (CRP) added in, testing previous research and ultimately not finding a significant relationship between customer personality (extroversion) and customer satisfaction. Data was obtained via the survey method and structural equation modeling (SEM). The questionnaire serving as the main instrument of data collection is measured by a Likert scale, having been administered to 140 customers of mobile service providers. The findings have practical implications for identifying the effects of personality on customer satisfaction and obtaining customer loyalty in mobile services. This information can better enable mobile service providers to target and retain customers. Keywords: Conscientiousness, extroversion, customer relationship proneness, customer satisfaction, customer loyalty
摘要由于客户满意度和忠诚度是增加公司利润的关键因素,公司必须努力与客户建立良好的关系,包括移动服务。从顾客外向性对顾客满意的影响到顾客忠诚的影响,以往的研究观点不一。本研究提供了相关的输入和可能的解决方案。运用关系营销理论,加入顾客关系倾向(CRP)作为中介变量,对以往的研究进行检验,最终没有发现顾客性格(外向型)与顾客满意之间存在显著的关系。数据通过调查法和结构方程模型(SEM)获得。问卷作为数据收集的主要工具,通过李克特量表进行测量,已对移动服务提供商的140名客户进行了管理。研究结果对于识别个性对移动服务客户满意度的影响,获得客户忠诚度具有实际意义。这些信息可以使移动服务提供商更好地定位和留住客户。关键词:尽责性、外向性、顾客关系倾向、顾客满意、顾客忠诚
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引用次数: 0
The Effect of Transformational Leadership on Business Performance Through Business Agility Expedition Services 变革型领导对企业绩效的影响——基于业务敏捷探索服务
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.2.6
E. Permana
Abstract. The Covid-19 pandemic has put pressure on various business sectors because social distancing policies have resulted in significantly reduced interactions between humans. So expedition services are the choice to meet most human needs. So that the shipping service business is a business that is experiencing rapid development during the pandemic. This study aims to analyze: 1) the influence of transformational leadership on the business performance of courier service, 2) the influence of transformational leadership on the business agility of courier service, 3) the influence of business agility on the business performance of courier service. The analysis technique used Structural Equation Model (SEM) with SmartPLS. The data was collected through the dissemination of questionnaires. Research respondents are shipping service companies with the criteria for joining the Association of Indonesian Express, POS and Logistics Delivery Service Companies (ASPERINDO). The results of the analysis showed that transformational leadership affects performance; transformational leadership affects business agility, and agility affects the company's performance. The results of the statistic test showed that all constituent dimensions of the model are at a high level. It means that the results of this study confirmed that the Covid-19 pandemic becomes a blessing for the courier service business. People's habits of shopping online during the pandemic are believed to not be significantly reduced even though the pandemic is over. This research recommends courier service companies maintain market agility and operational agility by improving digital capacity. In the future, research that involves the digital capability of the courier service business is needed during the pandemic. Keywords: Transformational leadership, agility, performance, courier service, COVID-19
摘要新冠肺炎大流行给各行各业带来了压力,因为保持社会距离政策导致人与人之间的互动大大减少。因此,探险服务是满足大多数人类需求的选择。因此,在疫情期间,航运服务业是一个快速发展的行业。本研究旨在分析:1)变革型领导对快递业务绩效的影响,2)变革型领导对快递业务敏捷性的影响,3)业务敏捷性对快递业务绩效的影响。分析技术采用结构方程模型(SEM)和SmartPLS。数据是通过散发调查表收集的。调查对象是符合加入印尼快递、POS和物流配送服务公司协会(ASPERINDO)标准的航运服务公司。分析结果表明,变革型领导影响绩效;变革型领导影响业务敏捷性,而敏捷性影响公司的绩效。统计检验结果表明,模型各组成维度均处于较高水平。这意味着,研究结果证实,新冠肺炎疫情对快递业来说是一件好事。据信,即使疫情结束,人们在疫情期间的网上购物习惯也没有明显减少。本研究建议快递公司通过提高数字化能力来保持市场敏捷性和运营敏捷性。未来,需要在疫情期间开展涉及快递业务数字化能力的研究。关键词:变革型领导,敏捷性,绩效,快递服务,COVID-19
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引用次数: 0
Factors Influencing Willingness to Invest in Peer-to-Peer Lending 影响p2p借贷投资意愿的因素
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.1.4
Ferdinand Surjadi, Jonathan Gunawan, Sherine Amanda Feryanto, Willy Gunadi
Abstract. The present study examines factors which influence willingness to invest in peer-to-peer lending. While many other studies have discussed peer-to-peer lending, few have focused on the lender's perspective or on the expected return variable. This quantitative study uses the non-probability sampling method with 157 online questionnaire respondents from Jakarta and Tangerang, along with the PLS method of analysis. The results obtained from SmartPLS show that company reputation and expected return had a positive influence on trust and that trust, in turn, had a positive influence on willingness to invest. Conversely, perceived risk was shown to have no influence on trust. From this research, it can be concluded that if a peer-to-peer lending platform desires to be more successful, it should consider focusing on improving the company's reputation and on setting a higher rate of return, rather than on the risk perceived by lenders. Keywords: peer-to-peer lending platforms, lenders, perceived risk, trust, willingness to invest
摘要本研究考察了影响个人对个人借贷投资意愿的因素。虽然许多其他研究都讨论过p2p借贷,但很少有人关注贷款人的观点或预期回报变量。本定量研究采用非概率抽样的方法,对雅加达和丹格朗157名在线调查对象进行调查,并采用PLS分析方法。从SmartPLS获得的结果表明,公司声誉和预期回报对信任有积极影响,信任反过来对投资意愿有积极影响。相反,感知风险对信任没有影响。从这项研究中可以得出结论,如果一个p2p借贷平台想要更成功,它应该考虑把重点放在提高公司的声誉和设定更高的回报率上,而不是放在贷款人感知的风险上。关键词:p2p借贷平台,出借人,感知风险,信任,投资意愿
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引用次数: 0
Transformational Leadership and Affective Commitment in the Public Sector: The Role of Public Service Motivation as a Mediator 公共部门变革型领导与情感承诺:公共服务动机的中介作用
Pub Date : 2022-01-01 DOI: 10.12695/jmt.2022.21.2.1
Ismed Hanafi, H. Tjahjono, Meika Kurnia Puji Rahayu DA
Abstract. Public service motivation (PSM) has become a popular topic discussed in various studies concerning the public sector. However, there is still limited literature discussing PSM, transformational leadership, and affective commitment simultaneously. Therefore, this study aims to examine the role of transformational leadership on affective commitment in the public sector by considering PSM as a mediating variable in the Indonesian context. This study applies a quantitative approach based on data collected from 172 Customs and Excise employee respondents. Primary data was obtained through a purposive sampling method and analyzed using a structural equation model (SEM). The results indicate a positive and significant influence of transformational leadership on PSM, PSM on affective commitment, and transformational leadership on affective commitment. However, the findings show that PSM does not mediate the effect of transformational leadership on affective commitment. The study also addresses some theoretical contributions and managerial implications concerning these topics. Keywords: Transformational leadership, affective commitment, public sector, public service motivation, mediating variable
摘要公共服务动机(Public service motivation, PSM)已成为各种公共部门研究的热门话题。然而,同时讨论PSM、变革型领导和情感承诺的文献仍然有限。因此,本研究旨在通过考虑PSM作为印度尼西亚背景下的中介变量来研究变革型领导对公共部门情感承诺的作用。本研究采用定量方法,收集了172名海关雇员的调查数据。通过目的抽样方法获得原始数据,并使用结构方程模型(SEM)进行分析。结果表明,变革型领导对员工的情感承诺、情感承诺和变革型领导对员工的情感承诺有显著的正向影响。然而,研究结果表明,PSM并没有中介变革型领导对情感承诺的影响。本研究还提出了有关这些主题的一些理论贡献和管理意义。关键词:变革型领导、情感承诺、公共部门、公共服务动机、中介变量
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引用次数: 1
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Jurnal Manajemen Teknologi
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