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Article
Publication date: 21 November 2023

Morrison Hendrik Riwu Kore, Rofikoh Rokhim, Riani Rachmawati and Lily Sudhartio

The purpose of this research was to examine the influence of entrepreneurial orientation on social performance and the influence of social performance on financial performance of…

Abstract

Purpose

The purpose of this research was to examine the influence of entrepreneurial orientation on social performance and the influence of social performance on financial performance of microfinance institutions (MFIs) in Indonesia. These tests use environmental dynamism as antecedents.

Design/methodology/approach

The research was conducted on a sample of 235 CEOs/top leaders of MFIs spread across all provinces in Indonesia. Data collection used survey questionnaires. Data testing used SPSS version 25, and structural modeling used Amos version 25.

Findings

The findings show that entrepreneurial orientation significantly influences the social performance of MFIs in Indonesia. Entrepreneurial orientation does not influence financial performance but must go through social performance mediation. Social performance has a significant effect on financial performance. The importance of MFIs improves social performance (depth and breadth of reach) to improve financial performance.

Practical implications

MFIs need to increase social contribution and responsibility to improve social performance which will impact financial performance.

Originality/value

Entrepreneurial orientation influence on financial performance goes through social performance. Social performance includes the depth of the reach to contribute to improving the quality of life of people experiencing poverty around the MFI's operations and the social responsibility of MFIs to the community through scholarships, free medical assistance, basic food assistance and building/renovating houses of worship and others.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-06-2023-0478

Details

International Journal of Social Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 19 October 2020

Harianto Lim and Rofikoh Rokhim

The purpose of this paper is to examine the factors affecting profitability of pharmaceutical company in Indonesia. While research and development has been the main discussed…

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Abstract

Purpose

The purpose of this paper is to examine the factors affecting profitability of pharmaceutical company in Indonesia. While research and development has been the main discussed issues in pharmaceutical sector development, scant attention has been paid to profitability factors determined by financial ratio specifically. The industry itself faces significant disruption with the implementation of universal health coverage in Indonesia. This study investigates the factors affecting profitability in an Indonesian pharmaceutical company after the national health insurance policy implementation.

Design/methodology/approach

This research is based on five independent variables (IVs) with six measurements that were empirically examined for their relationship with profitability. These variables are firm size (as measured by total sales), company efficiency (assets turnover), liquidity (current ratio), market power (the Lerner index) and a firm's growth (as measured by sales growth and sustainable growth rate). Data of ten pharmaceutical companies listed on the Indonesia Stock Exchange covering the period of 2014–2018 were extracted from companies' annual reports. Pooled ordinary least squares regression and fixed effects were used to analyze the data.

Findings

The findings show strong and positive relationships between liquidity and sustainable growth rate with profitability as measured by return on equity (ROE), return on assets (ROA) and earning per share (EPS), except EPS for liquidity. Further, both firm size and market power show positive significant relationships with ROA but negative significant relationships with EPS. Sales growth and company efficiency (as measured by assets turnover ratio) have no significant relationship with profitability.

Research limitations/implications

Due to data availability, the data include only listed pharmaceutical companies in the Indonesia Stock Exchange.

Practical implications

These results benefit internal users (such as managers, shareholders and employees). They can realize the determinants of enhancing the profitability of their company after the implementation of universal health coverage from the Indonesian government (JKN – Jaminan Kesehatan Nasional) since 2014. On the other side, other external users (such as investors, creditors, newly established pharmaceutical companies and tax authorities) also may get advantages of these results. It is clear that a significant impact happened upon this new policy implementation, and how an Indonesian pharmaceutical company will be profitable in the future. The relevance of company's business strategy (product and customer portfolio, competitor intelligence, etc.) with the profitability factors from this study can be further scrutinized as further consideration for both internal and external users.

Originality/value

This study differs from previous studies in many ways; first, it focuses on pharmaceutical companies in Indonesia. Previous studies have concentrated on different countries and companies in other sectors, such as services, banking and financial institutions or on industrial organizations. Second, this study analyzes the data from pharmaceutical companies' annual reports since 2014. There was a significant event of universal health coverage (national health insurance) implementation from the Indonesian government. Third, the study used ROE, ROA and EPS as indicators of profitability. Last but not least, the results of the study provide empirical evidence that firms with significant market power, good liquidity and well-managed sustainable growth rate improve operating income and ultimately enhance profitability.

Details

Journal of Economic Studies, vol. 48 no. 5
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 19 December 2019

Rofikoh Rokhim and Irma Octaviani

This paper aims to examine whether Sharia mutual fund managers are able to gain abnormal returns from what is called the Ramadhan effect.

Abstract

Purpose

This paper aims to examine whether Sharia mutual fund managers are able to gain abnormal returns from what is called the Ramadhan effect.

Design/methodology/approach

The authors use GARCH regression on daily data of domestic Sharia mutual fund performance in Indonesia and Malaysia over the period of 2007-2017.

Findings

The authors find that the Ramadhan effect is not a strong predictor of Sharia fund excess return in Indonesia and Malaysia, and they identify a positive Ramadhan abnormal return on the Malaysia Sharia Equity Fund. This result shows there is size effect on sharia fund excess return in Indonesia and value effect on Sharia Balanced Fund in both markets. It is suggested that the effect of market excess return in Indonesia is stronger than in Malaysia.

Research limitations/implications

The samples are limited to Sharia Funds over the period 2007-2017.

Practical implications

The authors suggest that size and value effect could be considered to develop the selection and timing strategies to explore the Ramadhan effect.

Originality/value

This study focuses on Indonesia and Malaysia, the two largest Islamic Stock Markets in Southeast Asia and examines specific on Sharia Mutual Fund (equity and balanced fund). It also compares differences in total performance measures between the Ramadhan period and non-Ramadhan period.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 13 no. 1
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 14 August 2017

Rofikoh Rokhim, Sari Wahyuni, Permata Wulandari and Fajar Ayu Pinagara

The purpose of this paper is to analyze the potential of remote areas in Indonesia and find out the important variables that influence key success factors of Local Economic…

1180

Abstract

Purpose

The purpose of this paper is to analyze the potential of remote areas in Indonesia and find out the important variables that influence key success factors of Local Economic Regional Development (LERD) program in several areas.

Design/methodology/approach

A series of structured interviews were conducted with the chairman and staff of local government, academician, private sectors and locals who are induced to work together to improve quality of life, create new opportunities and fight poverty in Bau-Bau, Singkawang and Kupang. Subsequently, the results from the structured interviews were analyzed using qualitative analysis to arrive at the model of LERD in Indonesia.

Findings

The findings show that variables that influence the key success factors of LERD in this research are resources endowment, social capital and local support as independent variables; entrepreneurial strategy as moderating variable; and perceived performance as dependent variable.

Research limitations/implications

This study was conducted only in Indonesia which focused on local economic regional development in Indonesia. Despite this limitation, the findings of this study enable the construction of a general model that highlights LERD in chosen areas. The model is also expected to give an idea of how to develop economic region.

Originality/value

The paper adds to the literature on LERD by enabling researchers and practitioners to understand the model of LERD in Indonesia.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 11 no. 4
Type: Research Article
ISSN: 1750-6204

Keywords

Article
Publication date: 16 August 2022

Rofikoh Rokhim, Iin Mayasari, Permata Wulandari and Handrix Chris Haryanto

The purpose of this study is to examine the effect of extrinsic aspects of the technology acceptance model, namely, information quality, functionality, accessibility, user…

Abstract

Purpose

The purpose of this study is to examine the effect of extrinsic aspects of the technology acceptance model, namely, information quality, functionality, accessibility, user interface design, system quality, functionality, facilitating conditions and computer playfulness as well as intrinsic aspects, namely, perceived self-efficacy, enjoyment and learning goals. orientation on perceived usefulness and perceived ease of use in the context of the learning management system (LMS) as a system to support employee learning and development. This study also analyzes the effect of perceived ease of use on perceived usefulness and analyzes the effect of these two variables on the intention to adopt a LMS. This study included 3,205 respondents who are employees of banking companies in Indonesia and who used the LMS for their learning and self-development needs during the COVID-19 pandemic.

Design/methodology/approach

This research is a quantitative study that uses online surveys to collect data and partial least squares statistical tools to analyze survey data.

Findings

The results showed that accessibility alone had no effect on perceived usefulness and perceived ease of use, while enjoyment had no effect on the intention to use LMS and perceived ease of use and functionality had no effect on the intention to use LMS.

Research limitations/implications

This research focuses on the concept of technology acceptance with extrinsic and intrinsic aspects. This research context involves employees working in the banking sector with the adoption of the LMS.

Practical implications

LMS in banking companies can be optimized by providing online training and reducing the operational costs of employee training. By using LMS, companies can offer online courses to employees and track progress in distance learning, become a learning choice and information dissemination during the pandemic and also support future business continuity.

Originality/value

This study focuses on testing the technology adoption model on LMSs in the banking sector by adding extrinsic aspects, namely, system quality, facilitating conditioning, computer playfulness and user interface design, and combining intrinsic aspects, namely, perceived self-efficacy, enjoyment and learning goal orientation.

Details

VINE Journal of Information and Knowledge Management Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2059-5891

Keywords

Article
Publication date: 8 July 2022

Rofikoh Rokhim, Arief Wibisono Lubis, Ida Ayu Agung Faradynawati, Winalda Ajaniara Perdana and Andrew Deni Yonathan

The purpose of this study is to simultaneously examine the role of microfinance from the business and social lenses by using the creating shared value (CSV) framework by Porter…

Abstract

Purpose

The purpose of this study is to simultaneously examine the role of microfinance from the business and social lenses by using the creating shared value (CSV) framework by Porter and Kramer (2011) in the context of Indonesia.

Design/methodology/approach

A survey among more than 170,000 borrowers of two specific credit schemes by PT Bank Rakyat Indonesia Tbk., the largest microfinance provider in Indonesia, was conducted to understand the perceptions of borrowers on the benefits of microcredit under the CSV framework.

Findings

The result confirms that, overall, the debtors acknowledged the importance of the loans in various aspects of CSV. The highest levels of importance were recorded in the case of stimulating the increase of business revenue growth, business productivity and fulfilling the needs of consumers. Disaggregating the results based on respondents’ demographic characteristics, it is shown that the findings in both credit schemes have a relatively similar pattern in terms of origin, business sectors and the borrowing purpose from.

Originality/value

There have been limited studies that examine the impact of microfinance from both the business and social perspectives. Most studies only use one of these. Implementing the CSV framework allows the authors to fill in the gap and understand how microfinance provides business and social benefits.

Details

International Journal of Ethics and Systems, vol. 39 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 2 June 2021

Rofikoh Rokhim, Iin Mayasari and Permata Wulandari

This study aims to analyze the adoption of the people entrepreneurship credit with online platform – a government-sponsored subsidy of small and medium enterprises to reduce…

Abstract

Purpose

This study aims to analyze the adoption of the people entrepreneurship credit with online platform – a government-sponsored subsidy of small and medium enterprises to reduce poverty and to improve welfare – in the Central Java, Indonesia. The objective of the research is also to analyze the motivation of small and medium enterprises to adopt the credit with online platform in supporting business activities. The research framework used the technology acceptance model – the effect of perception of usefulness, perception of ease of use, subjective norm and four As – availability, affordability, awareness, acceptability and trust – to analyze them as the determinants on the intention to adopt the People Entrepreneurship Credit.

Design/methodology/approach

The quantitative method with survey was deployed in the study by distributing questionnaires. The number of collected data was 380 credit users, and the criteria used for the respondents were the small entrepreneurs with the use of the people entrepreneurship credit as the micro credit program.

Findings

Results indicated that perception of usefulness, perception of ease of use, subjective norm, availability, trust and affordability have direct effect on the intention to adopt the credit. Interestingly, the strongest direct effect on the adoption intention was more likely to come from the perception of ease of use. Meanwhile, awareness and acceptability have no direct effect on the intention to adopt.

Originality/value

This study provides new theoretical insights regarding the implementation of technology acceptance model to analyze the intention to adopt and the analysis of four As concept. The findings of the study will provide a better strategy for banking as service industries in formulating the program of credit access for the entrepreneurs to run the business properly.

Details

Journal of Research in Marketing and Entrepreneurship, vol. 23 no. 1
Type: Research Article
ISSN: 1471-5201

Keywords

Article
Publication date: 8 August 2016

Rofikoh Rokhim, George Adam Sukoco Sikatan, Arief Wibisono Lubis and Mohammad Irwan Setyawan

This study aims to investigate whether microcredit programme has a positive impact on productive poors. Several areas of investigation include clients’ borrowing behaviour, level…

Abstract

Purpose

This study aims to investigate whether microcredit programme has a positive impact on productive poors. Several areas of investigation include clients’ borrowing behaviour, level of savings and before-and-after psychological well-being comparison.

Design/methodology/approach

A case-study survey of 398 clients of a microcredit programme run by a charity organisation in Jakarta, Indonesia, was conducted in 2012. Descriptive statistics and cross-tabulation analyses were then performed to show the variation of different variables among the respondents and how they correlate with socio-demographic indicators.

Findings

The result shows an indication that microcredit brings positive impact on the clients’ welfare; however, the effect is not linear and there might be an optimum borrowing frequency. Moreover, the output also suggests that age, level of income and level of savings are three important determinant of borrowing behaviour.

Research limitations/implications

Although the result can be justified, it is necessary to be cautious about its generalisability because of limited number of sample and non-randomised sample selection.

Originality/value

Although the microcredit programme examined in this study has been operating since 2010, there is by far no comprehensive study to assess its impact on the welfare of the clients. This study attempts to fill in the gap by providing an analysis on how microcredit programme increases the welfare of the clients. In addition, as part of the continuous improvement programme, the study also identifies a number of factors that might indicate the clients’ borrowing behaviour.

Details

Humanomics, vol. 32 no. 3
Type: Research Article
ISSN: 0828-8666

Keywords

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