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Article
Publication date: 4 September 2019

Suhadak Kurniati

This paper aims to examine the influence of good governance on corporate value, in which the stock returns and financial performance act as the mediator of the relationship among…

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Abstract

Purpose

This paper aims to examine the influence of good governance on corporate value, in which the stock returns and financial performance act as the mediator of the relationship among them.

Design/methodology/approach

This research was conducted on companies go public listed on the Indonesia Stock Exchange and was included in 2011 to 2017 LQ45 index list, with samples taking a purposive sampling approach through four criteria. Data analysis using WarpPLS with indicator approaches are formative (mutually exclusive between indicators).

Findings

The findings are as follows: good corporate governance has a significant influence on stock returns in a negative direction; good corporate governance has no significant influence on financial performance; good corporate governance has no significant influence on company value; stock returns have a significant influence on financial performance in a positive direction; financial performance has a significant influence on stock returns with a positive direction; stock returns significantly influence the value of the company in a positive direction; financial performance has a significant influence on the company value in a positive direction.

Originality/value

The novelty in this study is that the relationship between stock returns and financial performance is reciprocal, which is the relationship among variables that affect each other (back and forth causality), in which in the previous study, the relationship between variables is only one direction; besides, the previous study conducted an analysis to find out the influence of good corporate on stock returns, company value and financial performance separately, with mixed results.

Details

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 6
Type: Research Article
ISSN: 1472-0701

Keywords

Open Access
Article
Publication date: 5 December 2018

Suhadak Suhadak, Kurniaty Kurniaty, Siti Ragil Handayani and Sri Mangesti Rahayu

The purpose of this paper is to evaluate how much influence good corporate governance (GCG) has on corporate value, as well as moderating effect of stock return and financial…

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Abstract

Purpose

The purpose of this paper is to evaluate how much influence good corporate governance (GCG) has on corporate value, as well as moderating effect of stock return and financial performance on the influence of GCG on corporate value.

Design/methodology/approach

This study was an explanatory study. The unit of analysis was the companies listed in LQ45 in Indonesian Stock Exchange and the sources of data were ICMD, annual report and financial reports of the companies. Indonesian Stock Exchange was selected as the setting of the study since Indonesian Stock Exchange is one of trading places for various types of companies in Indonesia, and it provides complete information on company’s financial data and stock price. The population was 84 companies listed in LQ45 in Indonesian Stock Exchange between 2010 and 2016.

Findings

The higher GCG, independent commissioners proportion, institutional managerial and public ownerships resulted in higher corporate value. MBE and PER stock return is a moderating variable in the influence of GCG on corporate value. Financial performance is moderating variable in the influence of GCG on corporate value.

Originality/value

Based on the previous studies, it may be concluded that there is a gap between the influence of GCG on corporate value and the influence of stock return on financial performance, and moderating variable is needed to evaluate the influence of GCG on company performance, more particularly stock return and financial performance. This discrepancy creates opportunity for conducting an in-depth study on those variables. Its novelty is correlation between stock return and financial performance as moderation. Previous studies used these as mediating variables. This study is going to generate different finding as it is conducted in different setting (country where this study is conducted), type of industry, research period and using different method of analysis.

Details

Asian Journal of Accounting Research, vol. 4 no. 1
Type: Research Article
ISSN: 2443-4175

Keywords

Article
Publication date: 31 January 2024

Endrit Kromidha and Nia Kurniati Bachtiar

This study explores resilience learning from uncertainty, taking a holistic view by considering individual, firm and contextual factors. Resilience development is understood by…

Abstract

Purpose

This study explores resilience learning from uncertainty, taking a holistic view by considering individual, firm and contextual factors. Resilience development is understood by focusing on how uncertainty is related to entrepreneurs and their environment, suggesting that developing resilience needs to be a continuous learning process.

Design/methodology/approach

This qualitative study explores factors related to entrepreneurial uncertainty, resilience and learning. Evidence is drawn from interviews with rural entrepreneurs in two regions of Indonesia, and analyzed using a rigorous approach to generate codes, second-order themes and aggregate dimensions for the theoretical contributions.

Findings

Uncertainty readiness, uncertainty response and uncertainty opportunity for resilience emerge as the key learning areas from this study. They are related to resilience on a personal, community and systemic level. The proposed framework relates learning from uncertainty to the process of developing resilience for entrepreneurs and their communities.

Originality/value

This study proposes a framework based on resilience motivation and learning from uncertainty as usual. It explores the relationships between uncertainty readiness, responses and opportunities with personal, relational and systemic resilience factors. This contributes to entrepreneurship behavior research at the intersection of organization studies and management in the socio-economic and often informal context of developing countries.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 30 no. 4
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 8 May 2023

Yuni Tri Hewindati, Sri Kurniati Handayani, Aminudin Zuhairi and Raflen Aril Gerungan

This article presented the results of studies that examined the appropriateness of the content, readability of printed learning materials and the effectiveness of external…

Abstract

Purpose

This article presented the results of studies that examined the appropriateness of the content, readability of printed learning materials and the effectiveness of external resources in ecology course offered at Universitas Terbuka. To integrate external resources, links to their websites were provided in the printed materials.

Design/methodology/approach

An in-depth interview with a content expert was employed to review the course content, while digital and printed learning materials were reviewed for readability and to determine the usefulness of the external resources. A total of 47 students completed surveys and a focus group discussion that included in-depth interviews were conducted with 21 selected students.

Findings

The results revealed that the content of ecology course was conceptually valid. However, two key aspects needed to be emphasized, including the application of ecology phenomena for further development of the science and its applications in real-life situations. Regarding readability, students stated that the course materials were easily comprehended. In terms of the benefit, 79% of the students found the external resources interesting and helpful in understanding the learning materials.

Practical implications

Printed learning materials were crucial for students, specifically those residing in remote areas. Therefore, the institution should ensure that the materials were high-quality, easy to comprehend and enriched with up-to-date content/materials through scannable links to external resources.

Originality/value

The value added to the findings of this study was that the provision of links to external resources within printed learning materials improves students' understanding of the course content.

Details

Asian Association of Open Universities Journal, vol. 18 no. 2
Type: Research Article
ISSN: 1858-3431

Keywords

Article
Publication date: 27 November 2019

Nurdin Sobari, Andyan Kurniati and Hardius Usman

This study aims to analyze the behavior of Indonesian Muslim consumers toward halal wellness services, especially to determine the effect of Islamic attributes providing halal…

1707

Abstract

Purpose

This study aims to analyze the behavior of Indonesian Muslim consumers toward halal wellness services, especially to determine the effect of Islamic attributes providing halal wellness services and customer religious commitment as a moderating variable on customer satisfaction and loyalty.

Design/methodology/approach

The study was carried out by surveying 260 respondents from 13 Muslim salon outlets in the Jabodetabek area as research samples. Furthermore, a quantitative approach with moderated regression analysis is used as an analytical tool to test the research hypothesis.

Findings

The study found that embedding Islamic attributes in a halal service correlated positively with customer satisfaction. Four of the six dimensions of Islamic attributes that provide halal wellness services have a significant influence on customer satisfaction and loyalty. In addition, it was found that the moderating effect of religious commitment variables was only significant on two Islamic attributes, namely, Muslim goods and services and halal labeled products.

Research limitations/implications

This study was conducted with samples taken from only one brand of muslimah salon in Jabodetabek area. So that generalization needs to be done with caution.

Practical implications

The paper includes implications for the marketing strategy of halal wellness services industry including the importance of experiential marketing strategy, the moderation between fiqh law compliance and customer convenience and the service customization based on customer preferences.

Originality/value

This paper gives an understanding of the behavior of halal wellness service users on how halal service attributes affect user satisfaction and loyalty.

Article
Publication date: 14 September 2023

Bo Li, Ruxiao Xing, Wenya Guo and Shixiang Tang

This study aims to analyze and discuss whether and how consumer-to-manufacturer (C2M) mode empowered by e-commerce retail platforms’ big data affects the stock returns of firms in…

Abstract

Purpose

This study aims to analyze and discuss whether and how consumer-to-manufacturer (C2M) mode empowered by e-commerce retail platforms’ big data affects the stock returns of firms in supply chains.

Design/methodology/approach

This study selects 195 companies affected by four C2M events as samples and empirically analyzes the impact mechanisms of C2M mode on supply chain firms’ stock returns by event study.

Findings

This paper finds that C2M announcements own a positive impact on the stock returns of supply chain firms. Further, the results show that the business and financial characteristics play a significant impact on the relationship between the C2M mode and firm stock return performance. For example, C2M mode leads to huge stock returns when firms cooperate with the platforms related to their business content. In addition, the business scope can strengthen the positive promotion of C2M mode in stock returns, while business concentration weakens the positive promotion of C2M mode in stock returns.

Originality/value

The results found in this paper can provide practical guidance for the firms in supply chains to further apply C2M mode from the business characteristics and financial performance view.

Details

Nankai Business Review International, vol. 14 no. 4
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 13 January 2022

R.M. Qudsi Fauzi, Meri Indri Hapsari, Sri Herianingrum, Sunan Fanani and Tuti Kurnia

This paper aims to identify the factors that hinder the successful empowerment of waqf land in Indonesia empirically by applying the analytic networking process (ANP).

Abstract

Purpose

This paper aims to identify the factors that hinder the successful empowerment of waqf land in Indonesia empirically by applying the analytic networking process (ANP).

Design/methodology/approach

In this study, after the waqf land problem criteria were introduced, an ANP model was developed and applied to identify the main problem, solution and strategy as a framework to guide stakeholders to produce policy recommendations appropriately and optimally.

Findings

The results showed that the main priority of the problem is the nadzir aspect. Furthermore, each criterion’s problems are a low public trust, unprofessional nadzir (waqf manager), a huge number of idle waqf lands, the absence of waqf certificates and non-economic waqf lands utilisation. Meanwhile, the main priorities for each aspect of the solution are socialisation and education to the community, nadzir certification, utilisation of information technology for the administration of waqf land governance, waqf land certification and innovation of waqf land development projects. Then, the long-term strategic priority is optimising the community’s role in the empowerment of waqf land.

Research limitations/implications

The development of the ANP model would give the institutions a modest, flexible and convenient approach to evaluate the barriers present in waqf land. However, ANP requires greater effort because it is a highly complex methodology that compels a study to use more numerical calculations in assessing composite priorities.

Originality/value

Not many studies on waqf land issues in Indonesia have been discussed empirically. Most of these studies are in the form of descriptive studies. This study introduces the ANP approach to illustrate the main problems of waqf land empowerment in Indonesia. ANP is a new approach to the decision-making process through a process that produces a general framework for treating decisions without making assumptions regarding independence between elements.

Details

International Journal of Ethics and Systems, vol. 38 no. 3
Type: Research Article
ISSN: 2514-9369

Keywords

Book part
Publication date: 25 August 2020

Ma. Regina M. Hechanova, Lynn C. Waelde and Alicia N. Torres

Southeast Asia (SEA) is a region highly susceptible to earthquakes, volcanic eruptions, and tsunamis, though the region has been underrepresented in disaster mental health…

Abstract

Southeast Asia (SEA) is a region highly susceptible to earthquakes, volcanic eruptions, and tsunamis, though the region has been underrepresented in disaster mental health research. This chapter addresses risk factors for SEA, including its disaster-prone location, the psychological toll of frequent disasters, and stigma and shame and lack of psychoeducation about psychological help-seeking. Collectivism, strong family ties, and religious faith are among SEA’s resilience factors. Culture should be heavily accounted for in mental health and psychosocial support (MHPSS), considering the wide array of cultural differences in spirituality, affect and expression, power distance, and gender and masculinity in SEA. Because culture affects treatment satisfaction, treatment engagement, and treatment outcomes, future research should explore how aspects of SEA culture impact accessibility and engagement in MHPSS.

Details

Resistance, Resilience, and Recovery from Disasters: Perspectives from Southeast Asia
Type: Book
ISBN: 978-1-83909-791-1

Keywords

Book part
Publication date: 25 August 2020

Grant J. Rich and Skultip (Jill) Sirikantraporn

After decades of focus on disaster, crisis, and trauma itself, in recent years more attention has been devoted to the study of human strengths and resilience, as reflected in the…

Abstract

After decades of focus on disaster, crisis, and trauma itself, in recent years more attention has been devoted to the study of human strengths and resilience, as reflected in the rise of positive psychology and strengths-based social work. In particular, psychological growth after trauma has been increasingly studied, and one of the official terms referring to the phenomenon is posttraumatic growth (PTG). The PTG literature reflects work on positive psychology, trauma recovery, and resilience. The main components associated with PTG are new possibilities, interpersonal growth, personal growth, appreciation for life, and spiritual change (Calhoun & Tedeschi, 2014). These domains have been tested and measured with a scale, the Posttraumatic Growth Inventory. While PTG and related concepts such as resilience have been studied in various populations, they have not yet been investigated extensively in Southeast Asia (SEA) populations. This chapter explores the psychological examination of resilience and PTG in the SEA context, with some discussion of the background of both positive psychological concepts and PTG research cross-culturally, and their application to the SEA region specifically. Brief relevant trauma history of the region, such as human-made and natural hazards impacting the region’s individuals and communities, and similarities and differences in the results of these traumas will be described. Implications for broader international work as well as cultural and clinical implications also will be discussed in this chapter.

Details

Resistance, Resilience, and Recovery from Disasters: Perspectives from Southeast Asia
Type: Book
ISBN: 978-1-83909-791-1

Keywords

Book part
Publication date: 9 November 2023

Harmono Harmono, Sugeng Haryanto, Grahita Chandrarin and Prihat Assih

This chapter focuses on testing optimal capital structure theory: The role of intervening variable debt to equity ratio (DER) on the influence of the financial performance…

Abstract

This chapter focuses on testing optimal capital structure theory: The role of intervening variable debt to equity ratio (DER) on the influence of the financial performance, Ownership Structure of Independent Board of Commissioners (IBCO), Audit Committee (ACO), and Institutional Ownership on Firm Value. The research design was explanatory research using path analysis. Using purposive sampling, 61 manufacturing companies, observation period from 2014 to 2018 with 286 N samples. The research novelty empirically can prove the role of intervening variable DER on the effect of return on assets (ROA) on firm value and shows the market response to the ROA is fully reflected by DER, indicating the existence of an optimal capital structure. The role of DER on the effect of ROE and IBCO on firm value is a partial mediation with the inverse direction. This phenomenon shows that the mechanism of forming a balance between the responses of investors and creditors relates to debt financing.

Details

Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from SEA
Type: Book
ISBN: 978-1-83797-285-2

Keywords

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