Majalah Ilmiah Bijak
type: channel
description: Majalah Ilmiah Bijak is a scientific journal of Administrative Science Business, published by Institut Ilmu Sosial dan Manajemen STIAMI / STIAMI Institute. The Journal of Business Administration is published 2 (two) times a year, every March and September, which contains the results of the study of Business Administration Studies. This journal aims to disseminate the results of thought and scientific analysis in the field of Business Administration Sciences. ISSN Media cetak : 1411-0830 ISSN Media online : 2621-749X Email : journalbijak@gmail.com Email : journalbijak@stiami.ac.id
publisher: Institut Ilmu Sosial dan Manajemen STIAMI
language: en
publication name: Majalah Ilmiah Bijak
issn: 1411-0830
copyright: This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License Please find the rights and licenses in Majalah Ilmiah Bijak By submitting the article/manuscript of the article, the author(s) agree with this policy. No specific document sign-off is required. License The commercial use of the article will be governed by the Creative Commons Attribution license as currently displayed on Creative Commons Attribution-ShareAlike 4.0 International License. 2. Author(s)' Warranties The author warrants that the article is original, written by stated author(s), has not been published before, contains no unlawful statements, does not infringe the rights of others, is subject to copyright that is vested exclusively in the author and free of any third party rights, and that any necessary written permissions to quote from other sources have been obtained by the author(s). 3. User Rights Majalah Ilmiah Bijak spirit is to disseminate articles published are as free as possible. Under the Creative Commons license, Majalah Ilmiah Bijak permits users to copy, distribute, display, and perform the work for non-commercial purposes only. Users will also need to attribute authors and Majalah Ilmiah Bijak on distributing works in the journal and other media of publications. 4. Co-Authorship If the article was jointly prepared by more than one author, any authors submitting the manuscript warrants that he/she has been authorized by all co-authors to be agreed on this copyright and license notice (agreement) on their behalf, and agrees to inform his/her co-authors of the terms of this policy. Jurnal Bijak will not be held liable for anything that may arise due to the author(s) internal dispute. Majalah Ilmiah Bijak will only communicate with the corresponding author. 5. Miscellaneous Majalah Ilmiah Bijak will publish the article (or have it published) in the journal if the article’s editorial process is successfully completed. Jurnal Bijak editors may modify t…
items: Macroeconomic Consequences of Trump Era Protectionist Policies on Global Trade and Business Stability
items: Sustainable Nature Tourism Business Development in the MICE Industry Era: A Bibliometric Analysis
items: Enhancing Employee Performance Through Organizational Climate and Job Satisfaction: Evidence from a Private University
items: Enhance Customer Satisfaction in An Indonesian Cargo Service Company
items: Religion, Halal Logo, Extrinsic Halal Awareness in Influencing Muslim Attitudes Towards Halal Food
items: Implementation of Application Based Audits to Increase Auditor Effectiveness in Detecting Fraud
items: The Influence of Risk Perception, Trust, and Perceived Benefits and The Decision to Use QRIS in MSMEs in Bangli Regency
items: Motivation, Engagement, and Work-Life Balance: Key Drivers of Employee Performance at An Indonesian Bank
items: Dynamic Capability on Business Performance through Ambidextrous Innovation in The Coffee Business
items: The Influence of Perceived Value and Brand Image on Customer Citizenship Behavior is Mediated by Customer Loyalty
items: Risk Management in Strategic Decision Making: A Case Study of Culinary MSME’s in Surabaya
items: Enhancing Innovation and Creativity as Key Drivers of Organizational Culture among Private University Lecturers
items: The Measuring Health Clinic Success: A Balanced Scorecard Approach to Improve Performance and Service
items: The Influence of Social Media Marketing Activities, Brand Equity, and Celebrity Endorsement on Purchase Intention for Coffee Beverages on Instagram
items: The Effect of Management, Motivation, and Discipline Implementation on Employee Job Satisfaction: A Survey at The Indonesian Public Health Center
items: Driving Customer Loyalty through Product and Digital Service Quality: The Mediating Role of Satisfaction in PLN Mobile
items: Economic Evaluation of Cardiovascular and Diabetes Prevention in Primary Care: A Systematic Review
items: The Mediating Role of Customer Service in the Relationship between Price and Internet Speed on Customer Satisfaction
items: Corporate Social Responsibility and Financial Performance: Insights from Manufacturing Firms Listed on the IDX
items: The Role of E-WOM Credibility and Online Engagement in Shaping Online Purchase Intention: An Empirical Study
items: eWOM on Tokopedia Marketplace to Enhancing Purchase Decisions: The Role of eWOM Information Usefulness and eTrust
items: Marketing Analysis of Kopi Kenangan: Enhancing Customer Purchase Decisions
items: The Role of University-based Business Incubation and Innovation Hubs in Accelerating Student Entrepreneurial Learning
items: Digital Marketing Strategies for attract Millenial Travelers to Hotel Santika Premiere ICE BSD City
items: Exploration of the Influence of Price and Customer Reviews on Body Lotion Purchase Decisions: A Study on Teenage Users
items: Integrating Halal and Thayyib Principles into Global Logistics Operation: A Comparative Analysis in Malaysia, UAE, and Indonesia
items: Work-Life Balance and Employee Performance: The Mediating Roles of Job Engagement, Satisfaction, and Stress : A Case in an Indonesian Private University
items: Impact of Price Perception, Service Quality, and Brand Image on Customer Satisfaction in Hajj And Umrah Travel Services
items: Building Human Resources Characteristics in Public Services: A Phenomenological Study on Civil Servants
items: The Influence of ESG and Dividend Policy on Firm Value: The Moderating Role of Financial Performance in Multinational Consumer Goods Companies Listed in Indonesia and Malaysia (2019–2023)

Macroeconomic Consequences of Trump Era Protectionist Policies on Global Trade and Business Stability
type: item
description: The swift integration of cryptocurrencies into mainstream financial s ystems has attracted a growing number of new investors to conventional markets. This segment entering digital asset environments for the initial time is distinctly exposed to inherent dangers like unpredictable price fluctuations, uncertainty in regulations, security threats and limited protections for members. This investigation aims to study how perceptions of monetary peril influence the investment choices of these fledgling contributors. By utilizing a quantitative, cross-sectional, correlational design, the research gathered primary data from 300 initial cryptocurrency buyers through an online structured questionnaire. The data was analyzed using descriptive statistics, factor analysis, correlation, multiple direct regression and moderation analysis. Key results indicate that heightened perceptions of fiscal risk,particularly regarding capital depletion and unstable markets,are significantly associated with cautious investment behaviors for example preferring long-term possession of assets and avoiding leverage. Additionally, the work found demographic variables such as age and income moderate the strength of these links. Grounded in the Conservation of Resources theory, the analysis offers a psychological explanation for the resource-preserving strategies embraced by new crypto investors. By focusing on an understudied population within the behavioral finance domain, this examination contributes to theoretical understanding of financial decision-making under ambiguity and furnishes practical insights for fintech platforms, investor education programs and regulatory frameworks aimed at enhancing the security and inclusiveness of digital monetary markets.
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Achmad Daengs
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2025-09-30
publication date: 2025-09-30
starting page: 655
ending page: 663
doi: 10.31334/7rmv3685

Sustainable Nature Tourism Business Development in the MICE Industry Era: A Bibliometric Analysis
type: item
description: This research aims to investigate the development of scientific research publications related to the development of sustainable natural tourism businesses in the industrial era of meetings, incentives, conferences, and exhibitions (MICE) for the period 2013-2023 on Google Scholar based on keywords and authors using the software Harzing Publish or Perish and VosViewer ver 1.6.20. The findings revealed that out of a total of 1000 searches for international publications with the keyword nature tourism business, only 989 publications were found with the highest total publications in 2013 of 177 publications and the lowest in 2023 of 6 publications. The journal with the highest publication rating is Tourism Management Perspectives with 129 publications. Elsevier Science Publishers is the publisher with the highest publication achievement, namely 307 documents. Cluster 1 in red is the one most associated with the natural tourism business from 2018 to 2023 consisting of 12 items including Airbnb, big data, business analytics, business intelligence, consumer, food, hospitality business, hotel, internet, product, technology, tourist experience, and value. It can be concluded that the development of natural tourism business publications has decreased over the last 10 years. Improvements can be made through research that focuses on MICE activities as shown in the findings regarding the presence of technology keywords. The expected implication is that the results of these findings can contribute to the development of nature tourism business research in the future, especially in looking for references and factors related to this theme
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Hendrata Yudha Wardana
creator: Tulus Suryanto
creator: Juhary Ali
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2025-09-30
publication date: 2025-09-30
starting page: 646
ending page: 654
doi: 10.31334/pacsme21

Enhancing Employee Performance Through Organizational Climate and Job Satisfaction: Evidence from a Private University
type: item
description: Employees play an important role in determining organizational success. A positive organizational climate and high job satisfaction are expected to improve employee performance and support organizational growth. This study aims to analyze the influence of organizational climate on employee performance with job satisfaction as a mediating variable. The research was conducted on non-academic employees at a private university “X”. The sample consisted of 50 employees with a minimum working period of 20 years, selected using purposive sampling techniques. Data were analyzed using Structural Equation Modeling (SEM) with AMOS 16.0 to examine the mediating role of job satisfaction.The results show that organizational climate has a significant effect on employee performance (p = 0.000). Job satisfaction also significantly affects employee performance (p = 0.000). However, organizational climate does not significantly influence job satisfaction (p = 0.154), and job satisfaction is not able to mediate the relationship between organizational climate and employee performance (p = 0.214). These findings indicate that improving organizational climate directly contributes to better employee performance, while job satisfaction does not function as an intervening variable in this relationship. The study highlights the importance of creating a supportive organizational climate to enhance employee performance in higher education institutions.
subject: Articles
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subject: Array
  topic: keywords
creator: Dijah Julindrastuti
creator: Iman Karyadi
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-12
publication date: 2026-05-12
starting page: 623
ending page: 633
doi: 10.31334/bijak.v22i2.5785

Enhance Customer Satisfaction in An Indonesian Cargo Service Company
type: item
description: This study aims to determine a more appropriate marketing strategy at PT. Amanah Cargo Jaya Mandiri in order to increase customer satisfaction. The method used in this study is a qualitative method with IFE, EFE, IE, and SWOT (Strength, Weakness, Opportunities, Threats) analysis.The results of the study indicate that the marketing strategy implemented by PT. Amanah Cargo Jaya Mandiri is able to increase customer satisfaction but additional strategies are needed to increase customer satisfaction. PT. Amanah Cargo Jaya Mandiri is in a good position, has opportunities, and is able to continue to expand and provide better services in order to increase customer satisfaction and increase growth in order to obtain maximum profit.
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Kasmad Kasmad
creator: Yuditio Yuditio
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-12
publication date: 2026-05-12
starting page: 614
ending page: 622
doi: 10.31334/bijak.v22i2.5784

Religion, Halal Logo, Extrinsic Halal Awareness in Influencing Muslim Attitudes Towards Halal Food
type: item
description: The research aims to analyze religious awareness and halal logos against extrinsic halal awareness and attitudes. Variable research consists of variable endogenous attitudes and extrinsic halal awareness as well as variable exogenous religiosity, and halal logo. The type of research is quantitative with a perverted instrument using the Likert scale. The study population was a Muslim community with a sample count of 161 with sampling techniques being judgment sampling. The analysis tool used is SEM AMOS. The results of the study are that consumer religion has a negative and insignificant influence on extrinsic halal awareness, a halal logo has a positive and significant influence on halal awareness, extrinsic religion has a positive and significant influence on attitudes. halal logos have a positive and significant influence on attitudes. extrinsic halal awareness has no significant and positive influence on attitudes
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Nur Aida
creator: Nur Sitti Khumairoh
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-11
publication date: 2026-05-11
starting page: 552
ending page: 563
doi: 10.31334/bijak.v22i2.5778

Implementation of Application Based Audits to Increase Auditor Effectiveness in Detecting Fraud
type: item
description: Fraud in the business world is a major problem that can undermine auditor credibility and reduce the quality of financial reports. Auditors are required to be able to detect indications of fraud more accurately, but the limitations of traditional methods often make fraud detection less than optimal. Digital transformation in audit practice, through the implementation of simple applications, presents new opportunities. This study aims to analyze the role of application-based auditing on auditor effectiveness in detecting fraud. Primary data was obtained from 60 auditors from Public Accounting Firms (KAP) in Central Java with a minimum experience of three years. Data analysis was conducted using descriptive statistics, instrument testing, classical assumption tests, and simple linear regression. The results show that the application of application-based auditing has a positive and significant effect on auditor effectiveness in detecting fraud. This study emphasizes the importance of utilizing digital audit technology to improve audit quality. Recommendations for further research include expanding the audit sample by expanding the research area and adding variables such as auditor competence, ethics, and independence.
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Dewi Saptantinah Puji Astuti
creator: Abeta Betriyana
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-11
publication date: 2026-05-11
starting page: 607
ending page: 613
doi: 10.31334/bijak.v22i2.5776

The Influence of Risk Perception, Trust, and Perceived Benefits and The Decision to Use QRIS in MSMEs in Bangli Regency
type: item
description: Technological advances have brought digital payment innovations such as QRIS that provide efficiency for Micro, Small, and Medium Enterprises (MSMEs). However, in Bangli Regency, the level of use of QRIS in buying and selling transactions and other transactions. is still the lowest compared to other areas in Bali. This study aims to analyze the influence of Perception of Trust Risk and Perception of Benefits on the Decision to Use QRIS simultaneously and partially in MSMEs in Bangli Regency. The research method is associative with a quantitative approach. The population used in this study is all MSMEs in Bangli Regency that have not used the QRIS digital payment method, which is as many as 340 MSMEs. The sample was determined using the random sampling method, so that 77 respondents were obtained as samples. Using data analysis methods are multiple linear regression analysis, determination analysis, t-test (partial), and f-test (simultaneous) using SPSS 25 software. The results of the study show that simultaneously Risk Perception, Trust, and Benefit Perception have a significant effect on the decision to use QRIS. Partially, Risk Perception has a significant negative effect, while Trust and Benefit Perception have a significant positive effect on the decision to use QRIS in MSMEs in Bangli Regency.
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Pande Putu Suryawati
creator: Ade Maharini Adiandari
creator: Bagus Arya Wijaya
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-10
publication date: 2026-05-10
starting page: 595
ending page: 606
doi: 10.31334/bijak.v22i2.5769

Motivation, Engagement, and Work-Life Balance: Key Drivers of Employee Performance at An Indonesian Bank
type: item
description: This study investigates the effects of work engagement, work motivation, and work-life balance on employee performance at Bank X. Utilizing Structural Equation Modeling (SEM) and Partial Least Squares (PLS), the research reveals that work motivation significantly and positively influences employee performance, indicating that higher motivation leads to better job performance. Conversely, while work engagement demonstrates a positive correlation with performance, its effect is statistically insignificant, suggesting that merely enhancing engagement is insufficient without supportive factors such as motivation and a conducive work environment. Additionally, work-life balance positively impacts performance, yet this is also not statistically significant, highlighting the need for improved implementation of work-life balance policies. Overall, the findings emphasize the interconnectedness of motivation, engagement, and work-life balance in enhancing employee productivity. The study provides actionable recommendations for Bank X, including the development of motivational programs, the implementation of flexible work policies, and the establishment of a positive organizational culture. By adopting these strategies, Bank X can foster a more productive and satisfying work environment, ultimately enhancing overall employee performance.
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Dewi Rogayah
creator: Laura Lahindah
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-09
publication date: 2026-05-09
starting page: 586
ending page: 594
doi: 10.31334/bijak.v22i2.5767

Dynamic Capability on Business Performance through Ambidextrous Innovation in The Coffee Business
type: item
description: Objectives: In the context of rising global competition and shifting consumer demands, coffee enterprises face increasing pressure to innovate while maintaining consistent business performance. This study investigates the role of dynamic capabilities in enhancing business performance through the mediating mechanism of ambidextrous innovation within the Indonesian coffee industry. Methodology: Adopting a quantitative, explanatory research design, the study collected primary data from 362 decision-makers representing various types of coffee businesses, including cafés, roasteries, and producers. Using structural equation modeling with Partial Least Squares (PLS-SEM), the study tested both direct and indirect relationships among dynamic capabilities, ambidextrous innovation, and business performance. Finding: The findings reveal that dynamic capabilities—specifically sensing, seizing, and reconfiguring—positively influence both exploitative and explorative innovation strategies, which in turn significantly improve multiple dimensions of business performance. Moreover, ambidextrous innovation was found to partially mediate the relationship between dynamic capabilities and performance outcomes, underscoring its strategic importance in resource-constrained environments. The study contributes to the theoretical development of dynamic capabilities and innovation management by extending the application of Conservation of Resources (COR) Theory to the context of small and medium-sized enterprises in emerging markets. Conclusion: It also offers practical insights for managers and policymakers seeking to foster innovation-driven growth in the agri-food and service sectors.
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Eva Rachmawati
creator: Vanessa Gaffar
creator: Lili Adi Wibowo
creator: Puspo Dewi Dirgantari
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-09
publication date: 2026-05-09
starting page: 574
ending page: 585
doi: 10.31334/bijak.v22i2.5763

The Influence of Perceived Value and Brand Image on Customer Citizenship Behavior is Mediated by Customer Loyalty
type: item
description: The dynamics of contemporary business competition require companies to understand consumer behavior, which is not only limited to purchasing activities, but also extends to active participation in supporting brands through customer citizenship behavior. Previous research has shown that perceived value and brand image play important antecedents in shaping customer loyalty, but the mechanism by which these two variables influence customer citizenship behavior through loyalty mediation still requires further investigation. This study aims to analyze the influence of perceived value and brand image on customer citizenship behavior with customer loyalty as a mediating variable. The research method used a quantitative design with an explanatory research approach and a purposive sampling technique on 35 respondents who met the research criteria. Data were collected through a structured questionnaire using a 5-point Likert scale and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0 software. The results showed that perceived value had a positive and significant effect on customer citizenship behavior (β = 0.287, p < 0.05), while brand image had no significant effect (β = 0.231, p > 0.05). Both antecedent variables were shown to have a significant effect on customer loyalty, with perceived value showing a stronger influence (β = 0.456) than brand image (β = 0.318). Customer loyalty partially mediated the relationship between perceived value and customer citizenship behavior (β = 0.177, p < 0.05), but did not mediate the relationship between brand image and customer citizenship behavior. The research model was able to explain 65.1% of the variability in customer citizenship behavior. The study concluded that companies need to prioritize increasing perceived value through strategies that focus on superior product quality and excellent customer service to encourage customer citizenship behavior, as well as developing comprehensive loy…
subject: Articles
  topic: section
subject: Array
  topic: keywords
creator: Dodi Ria Atmaja
creator: Muniroh
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-07
publication date: 2026-05-07
starting page: 564
ending page: 573
doi: 10.31334/bijak.v22i2.5760

Risk Management in Strategic Decision Making: A Case Study of Culinary MSME’s in Surabaya
type: item
description: This research aims to get a better understanding of how small and medium-sized enterprises (SMEs) in Surabaya's food sector are incorporating risk management into their strategic decision-making processes. Even though they have already had a significant impact on Indonesia's economy, these culinary MSMEs face several financial, operational, and commercial challenges that might hinder their continued success in the future. Thus, a qualitative case study was conducted on five food-related MSMEs situated in Surabaya that had just undergone strategic changes. Based on in-depth interviews and participatory observation, the data was analyzed using theme coding and risk matrices according to ISO 31000 (2018). The analysis found that the two biggest operational risks are supply delays and being too reliant on vendors. Financial risk comes from fluctuations in prices, whereas market risk is characterized by variations in consumer preference. In response to these challenges, MSMEs have turned to digitalization, menu expansion, partnerships with local suppliers, and pre-order systems, among other strategies. Through enhancing corporate resilience, these strategies demonstrate a realistic and systematic application of risk management ideas. To bridge the gap between theory and practice regarding risk management implementation among MSMEs situated in urban regions, the study's results may be used by policymakers and business development programs to construct risk-aware support mechanisms. In the end, it proves that even tiny businesses with little resources can benefit greatly from organized risk analysis when making strategic choices.
subject: Articles
  topic: section
creator: Irra Chrisyanti Dewi
creator: Fabiola Leoparjo
creator: Otje Herman Wibowo
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-25
publication date: 2026-01-25
starting page: 545
ending page: 551
doi: 10.31334/bijak.v22i2.5510

Enhancing Innovation and Creativity as Key Drivers of Organizational Culture among Private University Lecturers
type: item
description: Private Higher Education Institutions (PTS) play a strategic role in developing superior human resources in Indonesia. However, the main challenge faced is the lack of integration of character values ​​and multiculturalism in the organizational culture of lecturers, which impacts weak academic innovation and creativity. To address this challenge, the government issued Permendikbud No. 12 of 2022 as a regulation emphasizing the importance of character development and multicultural education in higher education environments. This study aims to analyze the implementation of this regulation in developing an organizational culture for lecturers in PTS that supports a collaborative, innovative, and integrative work climate. The study used a descriptive qualitative approach with data collection techniques including in-depth interviews, observations, and documentation studies conducted at Esa Unggul University. Data were analyzed using thematic analysis using the Miles & Huberman model. The results show that the implementation of Permendikbud No. 12 of 2022 still faces obstacles such as resistance to change, low lecturer understanding, and limited structural and leadership support. However, character values ​​such as integrity and responsibility, as well as multicultural awareness, can act as catalysts for the formation of an organizational culture that encourages innovation and cross-cultural collaboration. An organizational culture built on a foundation of character values ​​and multiculturalism has been shown to increase lecturers' motivation, productivity, and adaptability in facing global dynamics. These findings provide strategic recommendations for private university leaders to strengthen transformative leadership, design ongoing training, and develop internal policies based on national regulations.
subject: Articles
  topic: section
creator: Facmi Tamzil
creator: Puspita Chairunnisa
creator: Silvia Ratna Juwita
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-25
publication date: 2026-01-25
starting page: 538
ending page: 544
doi: 10.31334/bijak.v22i2.5509

The Measuring Health Clinic Success: A Balanced Scorecard Approach to Improve Performance and Service
type: item
description: A health clinic is a primary healthcare facility (PHF) that provides health services with organized professional staff and comprehensive medical facilities to deliver continuous care, including diagnosis and treatment of patients' illnesses. As a service company in the healthcare sector, this clinic plays an important role in providing medical services to the community. This study aims to evaluate the performance of a Health Clinic using the Balanced Scorecard (BSC) approach. Within the BSC framework, there are four main perspectives used to assess performance: 1) Financial Perspective; 2) Customer Perspective; 3) Internal Business Processes Perspective; and 4) Growth and Learning Perspective. The type of research conducted is descriptive qualitative, with primary and secondary data sources collected from 2021 to 2023. The use of BSC in this study is expected to provide knowledge management, skills, and systems that support the development of employee creativity and management, thereby increasing efficiency, consistency, and timeliness in service delivery. As a result, the services provided can offer benefits and improve customer satisfaction, ultimately contributing to increased company profits. The research findings indicate that the clinic's performance across the four perspectives shows varied results: the financial perspective, with indicators such as ROI and Debt to Asset Ratio, shows suboptimal results; the customer perspective, with customer acquisition indicators, shows good results, but customer satisfaction levels are still lacking; the internal business process perspective indicates that outpatient waiting times are still insufficient, while emergency department waiting times are rated good; and the growth and learning perspective shows positive results in employee retention and productivity.
subject: Articles
  topic: section
creator: Dewi Agustya Ningrum
creator: Eka Maulid Diana
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-20
publication date: 2026-01-20
starting page: 529
ending page: 537
doi: 10.31334/bijak.v22i2.5503

The Influence of Social Media Marketing Activities, Brand Equity, and Celebrity Endorsement on Purchase Intention for Coffee Beverages on Instagram
type: item
description: In today's era of globalization, business competition to attract consumer purchase interest has intensified, particularly among coffee beverage products on social media. This study was conducted to examine the influence of Social Media Marketing Activities, Brand Equity, Celebrity Endorsement on Purchase Intention for Fore Coffee products on Instagram. This research uses a quantitative method with SPSS software. The respondents in this study are consumers who have consumed beverages from Fore Coffee at least twice in the past month, with a total of 115 respondents. The data collection technique used in this study was a questionnaire distributed via Google Form. The results of this study found that Social Media Marketing Activities have a positive and significant influence on Purchase Intention, Brand Equity has a positive and significant influence on Purchase Intention, and Celebrity Endorsement also has a positive and significant influence on Purchase Intention. Furthermore, Social Media Marketing Activities, Brand Equity, and Celebrity Endorsement collectively have a positive and significant influence on Purchase Intention for Fore Coffee products on Instagram.
subject: Articles
  topic: section
creator: siti mariam
creator: Hauzan Afif Prakoso
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-13
publication date: 2026-01-13
starting page: 497
ending page: 510
doi: 10.31334/bijak.v22i2.5493

The Effect of Management, Motivation, and Discipline Implementation on Employee Job Satisfaction: A Survey at The Indonesian Public Health Center
type: item
description: Health services provided by community health center employees can run optimally if they are supported by good management, employee work motivation, job satisfaction, and high discipline so that they can improve employee performance. This type of research is quantitative and has a descriptive analysis approach. The sample was 48 Community Health Center employees obtained using a total sampling technique. Data was collected by questionnaire and then analyzed by multiple linear regression using SPSS 25.0 software. The research results showed that the implementation of BLUD (The Regional Public Service Agency) service management, work motivation, work discipline and job satisfaction were in the high category. The results of statistical tests obtained the BLUD management service variable with a coefficient of 0.368 and ap value of 0.000, motivation with a coefficient of 0.395 and ap value of 0.001, and work discipline with a coefficient of 0.007 and ap value of 0.007, so it can be concluded that these three variables have an influence on job satisfaction. The BLUD management variables, motivation and discipline together influence employee job satisfaction at the Sukahening Tasikmalaya Community Health Center with ap value of 0.000.
subject: Articles
  topic: section
creator: Detya Okti Murni
creator: Kosasih
creator: Ayu Laili Rahmiyati
creator: Etty Sofia Mariati Asnar
creator: Farida Yuliaty
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-13
publication date: 2026-01-13
starting page: 485
ending page: 496
doi: 10.31334/bijak.v22i2.5492

Driving Customer Loyalty through Product and Digital Service Quality: The Mediating Role of Satisfaction in PLN Mobile
type: item
description: This study explores the impact of product quality and digital service quality on customer loyalty, with customer satisfaction as an intervening variable, focusing on PT. PLN (Persero) UP3 Cikupa in Tangerang Regency. In an era marked by rapid digital transformation, the adoption of digital services like PLN Mobile, a mobile application introduced by PLN in 2016, has significantly impacted how the company interacts with its customers. This research aims to understand how product quality and digital services influence customer satisfaction and, subsequently, their loyalty to the company. A quantitative approach was used, involving the collection of primary data through questionnaires distributed to 100 respondents who were users of PLN Mobile in the study area. The study applies multiple regression analysis to test the relationship between the variables. The results indicate that both product quality and digital service quality have a significant positive impact on customer satisfaction. Furthermore, customer satisfaction acts as a mediator between these factors and customer loyalty. It was found that improvements in the quality of PLN Mobile's product features, usability, and service reliability directly enhance customer satisfaction, which in turn fosters customer loyalty. These findings highlight the importance of continuously improving digital products and services to maintain long-term customer relationships and enhance competitive advantage in the utility sector. Additionally, the research underscores the significance of integrating customer feedback and maintaining high service standards in digital platforms to meet the evolving expectations of customers in the digital age. This study contributes valuable insights into the strategic management of digital service quality and customer satisfaction in the energy sector, providing recommendations for PLN (Persero) to refine its service offerings and enhance customer loyalty.
subject: Articles
  topic: section
creator: Alfi Diana Maryatia
creator: Endang Tjajaningsih
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-08
publication date: 2026-01-08
starting page: 469
ending page: 484
doi: 10.31334/bijak.v22i2.5488

Economic Evaluation of Cardiovascular and Diabetes Prevention in Primary Care: A Systematic Review
type: item
description: Cardiovascular disease (CVD) and diabetes are major contributors to global morbidity and mortality. Prevention programs implemented in primary care settings—such as the WHO HEARTS initiative and lifestyle-based diabetes interventions—have gained attention for their potential clinical and economic impact. To systematically review economic evaluations of cardiovascular and diabetes prevention programs delivered in primary health care, focusing on cost-related outcomes and economic value. A systematic search of PubMed, Scopus, and ScienceDirect identified studies published from 2016 to 2025 that reported economic outcomes of CVD or diabetes prevention interventions in primary or community healthcare. Data extracted included intervention types, cost estimates, quality-adjusted life years (QALYs), incremental cost-effectiveness ratios (ICERs), and cost drivers. Study quality was assessed using the CHEERS checklist. Twelve studies met inclusion criteria. Most demonstrated favorable cost-effectiveness, with ICERs ranging from USD 105 to USD 14,011 per QALY. Integrated programs addressing both hypertension and diabetes were generally more cost-efficient. Medications, diagnostics, and human resources were the primary cost drivers. Economic evaluations indicate that preventive interventions for CVD and diabetes in primary care are cost-effective across various health system contexts. Scalable models like HEARTS, when adapted locally, can support both health impact and efficient resource use
subject: Articles
  topic: section
creator: Aulia Abdillah Ramadhan
creator: Kurnia Sari
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-08
publication date: 2026-01-08
starting page: 462
ending page: 468
doi: 10.31334/bijak.v22i2.5487

The Mediating Role of Customer Service in the Relationship between Price and Internet Speed on Customer Satisfaction
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description: Customer satisfaction in internet services is a critical factor in maintaining user loyalty, especially for major service providers like Indihome. Despite offering a wide range of packages with varied prices and internet speeds, Indihome continues to face customer dissatisfaction due to discrepancies between expectations and actual service quality, primarily regarding perceived high prices and inconsistent internet speeds. Additionally, customer service frequently becomes a focal point of complaints, with issues related to delayed responses and inadequate problem-solving, further exacerbating the dissatisfaction when service quality does not meet expectations. This study aims to investigate the impact of pricing and internet speed on customer satisfaction, with customer service functioning as a mediating variable. Adopting a quantitative research approach, this study utilizes a survey method to collect data from Indihome users who have been subscribed for over a year. The data were analyzed using Structural Equation Modeling (SEM) with Partial Least Squares (PLS-SEM) to evaluate the relationships among variables. The findings indicate that both pricing and internet speed have a significant and positive effect on customer satisfaction, while customer service plays a mediating role that strengthens these relationships. The results highlight the importance of customer service quality in mitigating the negative perceptions associated with high prices and unstable internet speeds. The study contributes to the theoretical understanding of customer satisfaction by incorporating customer service as a mediating factor and offers practical implications for service providers to enhance user experience through improved customer support mechanisms.
subject: Articles
  topic: section
creator: Agung Pujianto
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-01-01
publication date: 2026-01-01
starting page: 454
ending page: 461
doi: 10.31334/bijak.v22i2.5485

Corporate Social Responsibility and Financial Performance: Insights from Manufacturing Firms Listed on the IDX
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description: CSR is also a program aimed at achieving sustainable development goals, as in this case, the company not only seeks benefits in terms of profits and tax contributions to the government but also provides benefits to society and the environment, especially during the COVID-19 pandemic. Objective: To understand and analyze the effect of CSR on financial performance in DER, to understand and analyze the effect of CSR on financial performance in GPM, and to understand and analyze the effect of CSR on financial performance in NPM. Method: This research is quantitative in nature, testing hypotheses on the causal effects between variables, using panel data regression analysis. The data used are secondary time series and cross-sectional data from 2015 to 2019 for 7 manufacturing companies listed on the Indonesia Stock Exchange (BEI), with model selection based on alternatives of common effect, fixed effect, and random effect. Results: The study concludes that for the independent variable DER, the best model is REM, while for the GPM variable, the best model is FEM, and for the NPM variable, the best model is CEM. Furthermore, the significant test results show that CSR significantly reduces DER, while CSR also has a significant impact on financial performance in generating both gross profit and net profit relative to sales.Recommendation: Based on the research findings, it shows that CSR contributes to financial performance, making it easier for companies to attract investors to further develop the company and provide benefits for stakeholders
subject: Articles
  topic: section
creator: Ani Nuraini
creator: Tiwi Nurhastuti
creator: Maya Sova
creator: Sakti Brata Ismaya
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-31
publication date: 2025-12-31
starting page: 443
ending page: 453
doi: 10.31334/bijak.v22i2.5483

The Role of E-WOM Credibility and Online Engagement in Shaping Online Purchase Intention: An Empirical Study
type: item
description: This study aims to analyze the influence of electronic word of mouth (eWOM) credibility and online engagement intentions on online purchase intentions among e-commerce consumers in Indonesia. This study uses a quantitative approach with Partial Least Squares Structural Equation Modeling (PLS-SEM) analysis techniques. Respondents totaled 198 people who were selected purposively, with the criteria of active social media users and having made e-commerce transactions in the last three months. The results show that eWOM credibility and online engagement intentions have a positive and significant effect on online purchase intentions. This research contributes to the development of digital marketing strategies and enriches the literature on consumer behavior in the digital context.
subject: Articles
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creator: Tri Andari Ratna Widyastuti
creator: Audra Fahrezy Putra
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2026-05-12
publication date: 2026-05-12
starting page: 634
ending page: 645
doi: 10.31334/bijak.v22i2.5421

eWOM on Tokopedia Marketplace to Enhancing Purchase Decisions: The Role of eWOM Information Usefulness and eTrust
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description: The purpose of this study is to discuss the role of ewom information usefullnes and etrust in mediating ewom information quality, ewom information quantity, ewom information credibility on epurchase decision on Tokopedia.The method used in this study is quantitative, while the analysis technique used is descriptive and verification analysis. The population in this study is all Tokopedia users during 2024, which according to Databoks in 2024 Tokopedia users numbered 18 million.This research was conducted with 130 generation z male respondents, the sampling technique used Hair's theory with SEM-PLS data analysis techniques.This study found that ewom information quality has no effect on etrust and ewom information usefulness, then ewom information quantity has an influence on etrust and ewom information usefulness. eWom information credibility has an influence on etrust and ewom information usefulness. eWom information usefulness and etrust affect ePurchase Decision.This research also provides a view for Tokopedia, which must increase new innovations to attract female consumers, so that its market reach is wider, as it is known that Tokopedia is mostly used by men, it could be due to the lack of information factors needed on Tokopedia
subject: Articles
  topic: section
creator: Mawa Syahputri
creator: Citra Savitri
creator: Syifa Pramudita Faddila
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2025-11-21
publication date: 2025-11-21
starting page: 426
ending page: 442

Marketing Analysis of Kopi Kenangan: Enhancing Customer Purchase Decisions
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description: This research examines the marketing strategy of Kopi Kenangan, a Grab-and-Go coffee brand founded in 2017. On its first day, it sold 700 cups of coffee, showing strong market interest. The company uses the 4P marketing mix (Product, Price, Place, Promotion) effectively, supported by product innovation and active social media promotion. Kopi Kenangan targets Millennials and Gen Z, who often visit coffee shops to relax and socialize. The brand offers a unique customer experience through tasty, affordable drinks, modern café designs, and free WiFi. This research uses a qualitative narrative method, based on secondary data from journals, articles, and market reports. The analysis includes content analysis and SWOT analysis. The results show that Kopi Kenangan has strong brand recognition and market opportunities, but also faces competition and potential risks. Its success lies in building a positive brand image, maintaining high product quality, and using smart marketing strategies. While image attracts interest, product quality is a key factor in actual purchasing decisions. To sustain growth, Kopi Kenangan must continue to innovate, maintain quality, and stay connected with the preferences of young consumers. This study gives valuable insights for businesses aiming to thrive in the competitive coffee market by appealing to the younger generation
subject: Articles
  topic: section
creator: Haryadi Sarjono
creator: Indira Ausani Gading
creator: Nazwa Fatima
creator: Aisyah Rahma Randy
creator: Syakira Fakhriya Jasmine
creator: Kalea Okta Putri
creator: Boyke Setiawan Soeratin
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2025-11-21
publication date: 2025-11-21
starting page: 412
ending page: 425

The Role of University-based Business Incubation and Innovation Hubs in Accelerating Student Entrepreneurial Learning
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description: This research investigates the role of university business incubation and innovation hubs in student entrepreneurial learning. Universities worldwide have increasingly established incubation centres and innovation hubs to foster student entrepreneurship. However, despite these initiatives, their effectiveness in facilitating entrepreneurial learning remains largely unexplored. The objective of this study is to bridge this gap by examining the impact of university incubation and innovation hubs on the development of student entrepreneurs. The study used a case-study research approach, and gather comprehensive data from students of Bayero University, Kano, who have undergone the incubation program within the university. The data was collected through a closed-ended questionnaire on students' experiences with university-based entrepreneurship support programs, including seminar, business ideas competition, hackathon, business plan competition, coaching/mentorships, and study tour/industry. The Statistical Package for Social Science (SPSS) is the tool used for the data analysis and presentation. Analysis techniques such as descriptive statistics, correlation and regression analysis are conducted, and the result indicated significant effect of the programs of the university innovation and incubation hubs on students venture start-up, except for seminar. About 30 students’ businesses were registered to fruition in 2022-2023 and millions of naira were won as grants by students from different donors. Furthermore, the study identifies key challenges encountered by students in leveraging these initiatives and propose strategies for enhancing their effectiveness. The implications of the findings derived from this research are manifold. The results provide valuable insights for university administrators, policymakers, and educators seeking to optimize entrepreneurship education programs within their institutions
subject: Articles
  topic: section
creator: Muazu Hassan Muazu
creator: Shukurat M. Bello
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2025-11-20
publication date: 2025-11-20
starting page: 401
ending page: 411

Digital Marketing Strategies for attract Millenial Travelers to Hotel Santika Premiere ICE BSD City
type: item
description: This study analyzes digital marketing strategies for attract millennial travelers (aged 25–40) to Hotel Santika Premiere ICE BSD City, based on trends for 2024–2025. The background is rooted in the dominance of millennials in the domestic travelers market (72% rely on digital recommendations) and the urgency of digital transformation post-pandemic. A descriptive qualitative method through case study was employed, with data collection techniques including in-depth interviews (5 informants: marketing manager, social media staff, millennial guests), participatory observation, and document analysis. The research findings indicate that the MySantika app is the key driver behind a 30% increase in direct bookings, with three critical features: Exclusive Discounts (25% interest vs. OTAs), leveraged through Ramadan promotions (10% discount & free breakfast), Digital Check-in/out (15% guest satisfaction), saving 5 minutes of waiting time through OTP verification and PMS integration, and Personalized Recommendations based on machine learning (20% conversion rate), tailored to room preferences and nearby activities. Supporting strategies include Instagram visual content optimization (Reels/Stories with 40% engagement), Collaboration with local influencers (live session Santai Sore Ramadhan), integration of digital payment methods (OVO / QRIS / PayLater). The main challenges are the limited features of MySantika for the international market and dependence on internet connectivity. Recommended solutions include expanding the global loyalty program and developing an offline mode feature. The research conclusion emphasizes that the combination of mobile apps, interactive content, and personalization is an effective strategy to reach millennials. The practical implication encourages continuous technology-based innovation to sustain growth in the digital era.
subject: Articles
  topic: section
creator: Rosim
creator: Githa Siswara
creator: Firdaus Suwarta
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0
date: 2025-11-03
publication date: 2025-11-03
starting page: 380
ending page: 387

Exploration of the Influence of Price and Customer Reviews on Body Lotion Purchase Decisions: A Study on Teenage Users
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description: This study explores the influence of pricing strategies and online customer reviews on the purchasing decisions of teenage users regarding body lotion, specifically focusing on the Scarlett Whitening brand available through the Shopee e-commerce platform. Utilizing a quantitative research approach, data was collected from 112 adolescent respondents in Depok through structured questionnaires. The findings reveal that both pricing and online reviews significantly impact purchase intentions among Gen Z consumers, who exhibit a strong preference for products that balance quality and affordability. The results indicate that competitive pricing and positive online reviews enhance the attractiveness of beauty products, while the integration of social media and influencer marketing further amplifies these effects. The study underscores the necessity for brands to cultivate a positive online reputation and engage with credible influencers to effectively capture the attention and loyalty of this discerning consumer group. Overall, the research highlights the critical role of eWOM (electronic word-of-mouth) and pricing in shaping the purchasing behavior of Gen Z in the beauty skincare market.
subject: Articles
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creator: Anisa Arizona
creator: Dewinta Khana Elvasandora
rights: Copyright (c) 2025 Majalah Ilmiah Bijak
date: 2025-09-06
publication date: 2025-09-06
starting page: 347
ending page: 353
doi: 10.31334/bijak.v22i2.4196

Integrating Halal and Thayyib Principles into Global Logistics Operation: A Comparative Analysis in Malaysia, UAE, and Indonesia
type: item
description: This paper examines how the concepts of halal and thayyib have evolved from basic religious dietary laws to broader principles guiding global industry practices. It explores how these principles are integrated into halal logistics systems in Malaysia, the UAE, and Indonesia. While Malaysia and the UAE have well-developed halal logistics systems, Indonesia is working to strengthen its own through regulations like Law No. 33 of 2014. However, challenges remain in Indonesia, including industry misunderstanding, infrastructure limitations, and regulatory delays. A real challenge is the postponement of the implementation of halal certification requirements until further notice, which was originally scheduled to start in October 2024. This qualitative study uses comparative analysis, literature reviews, and expert interviews to understand these challenges and proposes using ICT to improve halal logistics. The study's novelties include a comprehensive comparative analysis of halal logistics implementation across three countries, the integration of the conceptualization of halal and thayyib in Islam with halal value chain theory and institutional theory, and the emphasis on ICT's role in enhancing logistics efficiency. The study concludes that success in halal logistics requires coordinated efforts from policymakers, industry players, and technological advancements.
subject: Articles
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creator: Dwi Yunanto
creator: Euis Amalia
creator: Desmadi Saharuddin
rights: Copyright (c) 2025 Majalah Ilmiah Bijak
date: 2025-09-06
publication date: 2025-09-06
starting page: 354
ending page: 368
doi: 10.31334/bijak.v22i2.4867

Work-Life Balance and Employee Performance: The Mediating Roles of Job Engagement, Satisfaction, and Stress : A Case in an Indonesian Private University
type: item
description: The performance of educators is a crucial factor in achieving the effectiveness of educational institutions. However, in recent years, the performance of educators at X University in Surabaya has declined. One factor suspected to influence performance is work-life balance. This study aims to analyze the effect ofWork-life balance on employee performance, both directly and through job engagement, job satisfaction, and job stress as mediating variables. This study employs a survey method to analyze the influence of work engagement, job satisfaction, and work stress on the performance of educators at Wijaya Kusuma University Surabaya. Data were collected using a systematically designed questionnaire to measure these variables. The results indicate thatWork-life balance contributes to improving employee performance. Job engagement and job satisfaction strengthen this relationship, while job stress can hinder optimal performance achievement. Therefore, educational institutions need to implement policies that support a balance between work and personal life, such as flexible work arrangements and stress management programs, to create a more productive and conducive work environment.
subject: Articles
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creator: Kharis Marpudianto
creator: Yuniningsih Yuniningsih
creator: Hesty Prima Rini
rights: Copyright (c) 2025 Majalah Ilmiah Bijak
date: 2025-09-06
publication date: 2025-09-06
starting page: 335
ending page: 346
doi: 10.31334/bijak.v22i2.4775

Impact of Price Perception, Service Quality, and Brand Image on Customer Satisfaction in Hajj And Umrah Travel Services
type: item
description: This study aims to examine and analyze the Perception of Price, Service Quality, and Brand Image on Customer Satisfaction of Hajj and Umrah Travel. The sample used in this study is Bawazier Travel PT. Sutan Alzahira Wisata. Data were collected using a census method and analyzed using multiple linear regression. Based on this study, it can be concluded that Bawazier Travel customer satisfaction is significantly influenced by price perception, service quality, and brand image. Respondents showed a high level of satisfaction with prices commensurate with benefits, satisfactory service, and Bawazier Travel's reputation as a trusted Umrah travel. Perceptions of reasonable prices, friendly and timely service quality, and a positive brand image also play a major role in increasing customer satisfaction. Therefore, to maintain and increase satisfaction, Bawazier Travel needs to continue to offer competitive prices, maintain service quality, and strengthen its brand image in the eyes of customers.
subject: Articles
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creator: Shynta Permata
creator: Heri Susanto
creator: Rumna Rumna
rights: Copyright (c) 2025 Majalah Ilmiah Bijak
date: 2025-09-06
publication date: 2025-09-06
starting page: 369
ending page: 379
doi: 10.31334/bijak.v22i2.5324

Building Human Resources Characteristics in Public Services: A Phenomenological Study on Civil Servants
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description: This study aims to understand, analyze and describe the focus of Building Characteristics of State Civil Apparatus Employees in carrying out their duties and functions as public service lecturers - state servants who are required to serve student learning, research and community service in university and government environments. The method used by the researcher in this study is a Qualitative method with a Phenomenological Study approach. The data collection technique is based on secondary data processes, namely books, scientific journals, laws and regulations and seminar results as well as empirical data, namely; through the process of observation and interviews. The research informants are Academic Staff, Students and Lecturers of State Civil Apparatus Employees at Esa Unggul University and Lecturers at government higher education institutions.The results of the study found by the researcher, that "Building the Character of State Civil Apparatus Employees or Civil Servants is not easy to quickly change the characteristics of nature, character, behavior and motivate to build public services. First. ASN/PNS employees have characteristics if they carry out and implement laws and regulations and standard operating procedures (SOP) of government organizations. Second. State Civil Apparatus Employees are committed to implementing the Pledge (oath) in implementing laws and regulations. Third. ASN employees have a responsibility to the development and progress of the nation, especially universities and to distribute the moral values of the nation and the unitary state of the Republic of Indonesia. Fourth. Building cooperation between government institutions and other universities - for the activities of the Tri Dharma of universities and Fifth. Collaborative in carrying out public services that are trustworthy, have integrity, are professional and independent. Changing the character of State Civil Apparatus employees requires a strong leader, who has the capacity, integri…
subject: Articles
  topic: section
creator: Muniroh Muniroh
creator: Pawenary Pawenary
rights: Copyright (c) 2025 Majalah Ilmiah Bijak
date: 2025-03-09
publication date: 2025-03-09
starting page: 224
ending page: 232
doi: 10.31334/bijak.v22i1.4752

The Influence of ESG and Dividend Policy on Firm Value: The Moderating Role of Financial Performance in Multinational Consumer Goods Companies Listed in Indonesia and Malaysia (2019–2023)
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description: This study aims to test whether there is an influence of Environment, Social and Governance (ESG) and Dividend Policy on Company Value (PBV) with Financial Performance (ROA) as a moderating variable. This study uses samples of Indonesian and Malaysian manufacturing companies respectively during the period 2019-2023. The sample was taken using a purposive sampling method, so the number of samples used in this study was 125 financial reports and sustainability reports from 25 (Indonesia 18 and Malaysia 7) manufacturing companies during the period 2019-2023. Hypothesis testing used in the study uses panel data regression analysis and moderated regression analysis (Moderated Regression Analysis) with the help of E-VIEWS software. The results of the hypothesis test prove that in Indonesia ESG and dividend policy have no effect on PBV. However, there are differences in Indonesia and Malaysia. Then the results of the test together (Indonesia and Malaysia) ROA is unable to strengthen ESG against PBV and ROA is able to strengthen Dividend Policy against PBV.
subject: Articles
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creator: Misrudi Misrudi
creator: Firman Tatariyanto
creator: Nofryanti Nofryanti
rights: Copyright (c) 2025 Majalah Ilmiah Bijak
date: 2025-06-30
publication date: 2025-06-30
starting page: 233
ending page: 252
doi: 10.31334/bijak.v22i1.4644