Distribusi - Journal of Management and Business

CONTRARIAN STRATEGY: EVIDENCE OF PRICE REVERSAL ON WINNER-LOSER PORTFOLIOS

Iwan Kusmayadi — 2024-09-29

This study aims to analyze the effectiveness of the contrarian strategy by demonstrating the existence of price reversal phenomena in winner-loser stock portfolios on the Indonesia Stock Exchange (IDX). This research differs from previous studies by comprehensively exploring the Indonesian stock market (IDX), which has characteristics distinct from developed countries. Thus, this research contributes new insights to the investment literature in emerging markets. The research approach is quantitative, utilizing monthly data in the form of stock closing prices from all companies listed on the IDX from January 2020 to June 2023, totaling 866 companies, with a selected sample of 670 companies. The hypothesis was tested using an independent sample t-test. The results show that the winner and loser stock portfolios experienced price reversal in the first month after the formation period. However, in the second and third months, the winner stock portfolio did not experience a price reversal but showed significant changes. Meanwhile, the loser stock portfolio experienced price reversals in the first, second, and third months after the formation period. Both portfolios exhibit significant differences in AAR and CAAR values, leading to the general conclusion that price reversal symmetry occurred. Such conditions present opportunities for investors or traders, serving as signals to make contrarian decisions buying loser stocks or selling winner stocks. This phenomenon also provides evidence of the winner-loser anomaly in the Indonesian capital market.

IMPLEMENTING SOCIAL MEDIA MARKETING STRATEGY FOR MICRO-ENTERPRISE IN FASHION RETAIL

Lady Lady — 2024-09-29

This research aimed to enhance the online presence of Satia Collection, a micro-enterprise in Batam, Indonesia, through strategic use of social media platforms. Social media accounts were established on Instagram, Facebook, Linktree, and Canva, along with a new brand logo and Google Maps registration to improve customer accessibility. The results showed a significant increase in reach and in-teraction on Instagram, along with a notable rise in WhatsApp messages through Instagram and Facebook links. The implementation of Instagram ads led to tre-mendous customer engagement, demonstrating the effectiveness of digital mar-keting strategies. The study highlights the importance of content quality over fre-quency in driving user engagement and underscores the need for retail entrepre-neurs to leverage technological advancements. Facebook, WhatsApp, and Insta-gram emerged as the most-used social media networks, with WhatsApp playing a crucial role in customer-centered marketing due to its affordability and ease of use.

THE EFFECT OF PRODUCT QUALITY AND PRICE ON LOYALTY OF TELKOMSEL PREPAID CARD USERS WITH CUSTOMER SATISFACTION AS A MEDIATING VARIABLE

Dela Puspita — 2024-09-29

This study aims to examine the Influence of Product Quality and Price on the Loyalty of Telkomsel Prepaid Card Users with Customer Satisfaction as a Mediating Variable. This research employs a quantitative method with a sample size of 101 respondents who are Telkomsel card users in Sungai Penuh City, calculated based on the Lemeshow formula. Data was collected using a questionnaire distributed online via Google Forms and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results of the study show that price has a positive effect on customer satisfaction. Price does not have an effect on consumer loyalty. Customer satisfaction has a positive effect on consumer loyalty. Product quality has a positive effect on customer satisfaction. Product quality does not have an effect on consumer loyalty. The study also proves that customer satisfaction does not mediate the relationship between price and consumer loyalty, but customer satisfaction does mediate the relationship between product quality and consumer loyalty.

BALANCED SCORECARD DESIGN AS A MODEL FOR MEASUREMENT OF PUSKESMAS PERFORMANCE IN EAST LOMBOK DISTRICT

Erwin Saputraji — 2024-09-29

The objective of this study is to develop a performance measuring model based on the balanced scorecard framework at the UPT Puskesmas Suela in East Lombok Regency, using the Analytic Hierarchy Process (AHP) technique. This research employed qualitative approaches. Data were gathered with a paired comparison questionnaire employing the Analytic Hierarchy Process (AHP) scale. The performance evaluation of community health centers is conducted using four reference standards, including the financial perspective, community perspective, internal business process perspective, and development and learning perspective. Utilizing this technique for data processing is beneficial in making judgments based on many factors. The research findings indicate that the primary criterion of utmost importance for community health centers is finance, with a weight of 0.465450. The subsequent prioritization criterion is society, assigned a weight of 0.214555. Additionally, both the internal business process criteria and development and learning criteria hold equal significance, each with a weight of 0.112321. Related indicates that Puskesmas as a public sector agency focuses on improving performance on financial perspectives.

EFFECTIVENESS OF IMPLEMENTING GREEN FINANCE, GREEN INVESTMENT, AND ENVIRONMENT COST IN INCREASING COMPANY VALUE IN THE MINING SECTOR

Wina Yusnia — 2024-09-29

Companies cannot solely rely on financial performance but must also consider non-financial performance. The ability to predict environmental impacts allows companies to take anticipatory measures through various sustainable business plans, thereby mitigating risks and preventing greater environmental damage. This study aims to determine the influence of Green Finance, Green Investment, and Environment cost on firm value. Employing a quantitative approach with primary data, the study utilized purposive sampling on a sample of 9 companies and 45data. Multiple linear regression analysis, coupled with classical assumption tests and hypothesis testing, was conducted. The findings reveal that Green Finance exerts a significant positive impact on firm value, while Green Investment demonstrates no significant influence. Environmental costs, however, exhibit a significant positive correlation with firm value. The implications of this research suggest that mining companies ought to prioritize environmental factors to enhance firm value. Collectively, all three factors contribute significantly to firm value.

THE EFFECT OF GREEN ACCOUNTING AND ENVIRONMENTAL COST IMPLEMENTATION ON FINANCIAL PERFORMANCE IN FOOD AND BEVERAGE COMPANIES

Nur’aini Nur’aini — 2024-09-29

The purpose of this study is to determine whether green accounting and environmental costs affect the financial performance of food and beverage companies listed on the Indonesia Stock Exchange from 2021 to 2023. This research uses a purposive sampling technique, thus the secondary data utilized is based on specific criteria obtained from the annual reports and sustainability reports. A total of 66 samples (consisting of 22 companies) over three (3) years were used and analyzed using the Statistical Program for Social Science version 29 software. The data analysis employed includes descriptive statistical analysis, classical assumption tests, multiple linear regression analysis, and hypothesis testing. The independent variables include green accounting, measured using the dummy variable PROPER, and environmental cost, measured by the allocation of funds for community development programs against profit. The dependent variable is financial performance, measured by return on assets. The results indicate that green accounting does not significantly affect financial performance, whereas environmental cost has a negative impact on financial performance.

NETFLIX AND TELKOMSEL BUNDLING: DOES SYMBOLIC VALUE MATTER IN CO-BRANDING

Ardianta Gede Pamungkas — 2024-09-29

The Subscription Video on Demand market in Indonesia has seen substantial growth, but Netflix's market share dropped by 10% in Q2 2022, losing about 2 million subscribers. To boost customer purchase intention, Netflix partnered with Telkomsel, a leading telecommunication provider, to offer a bundled package. This study explores the mediating role of brand attitude between symbolic value, perceived benefits, and customer purchase intention for the Netflix-Telkomsel bundle. Using an associative quantitative approach and a sample of 100 respondents, data were analyzed with Partial Least Squares (PLS). The results reveal that symbolic value insignificantly influences purchase intention or brand attitude. However, perceived benefits positively and significantly impact both purchase intention and brand attitude. Brand attitude also positively influences purchase intention and mediates the effect of perceived benefits on purchase intention, but not that of symbolic value. Prospective customers prioritize perceived benefits over symbolic value when deciding to purchase the Netflix-Telkomsel bundle.

DOES RISK MANAGEMENT AFFECT BANK PERFORMANCE?

Angelina Julia Renaldi — 2024-09-29

The objective of this research is to analyze the impact of risk management on bank performance. Risk management is measured through credit risk, liquidity risk, operational risk, leverage, loan growth, and bank capital. Meanwhile, bank performance is measured through ROA (return on assets) and ROE (return on equity). The sample in this study consists of Rural Banks (BPR) in the province of West Kalimantan. Data were collected from the financial statements for the years 2018 until 2022 available on the Financial Services Authority (OJK) website. According to OJK data, there are 21 BPR’s in West Kalimantan resulting in a total of 105 data points used in this study. The analytical method applied is panel regression, tested using the E-Views application. The results show that credit risk, liquidity risk, and operational risk have a negative effect on ROA, while leverage and bank capital have a positive effect on ROA. In contrast, loan growth does not affect ROA. Additionally, credit risk, leverage, operational risk, and bank capital have a negative impact on ROE, whereas liquidity risk and credit growth do not affect ROE.