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Model bisnis agregator berbasis daring komoditas sayuran
Full text linkHorticultural commodities continue to grow and develop as commodities that are in great demand by consumers. Vegetables are consumed more by the population in Indonesia both at low and high income levels. Development of horticultural products is still faced with various kinds of problems, including obstacles in the process of horticultural product trading. The main problem in the horticultural product trading system is the inefficiency of the distribution process of horticultural products from producers to consumers. Today, there are modern actors called aggregators who play a role in aggregating vegetable products from farmers to be distributed to consumers by utilizing information technology that is currently growing rapidly, namely the internet. Aggregators are basically collectors and intermediaries. But the concept to be developed is how an intermediary business model plays a role in creating profits for farmers, comprehensively from upstream to downstream. This can be done by packaging products and services that can be provided by aggregators based on information and communication technology using the internet.
The purpose of this study is to design an online-based aggregator business model that is implemented in vegetable commodities. Methodology This study uses a survey method by conducting in-depth structured interviews and questionnaires. Descriptive analysis is carried out using value chain analysis. Expert resource persons were selected by purposive sampling with non-probability sampling techniques, in addition farmers were selected based on quota sampling. Then this study conducted a Focus Group Discussion (FGD) to analyze the value chain in making a road map of the aggregator value chain for online vegetable commodities. In-depth interviews with experts were conducted to determine key elements and priorities using hard system methods, namely Interpretive Structural Modeling (ISM) and Analytical Network Process (ANP) analysis to create an aggregate business model based on vegetable commodities online.
The results of interviews with online farmer partner farmers to see the position of farmers in the agricultural era 4.0 using 6 elements of management namely man, material, method, machine, money, market. Processing results show that the position of the farmer partner aggregator is in the agricultural position 3.0. in the elements of money, machine, method, and man. The market and material elements of the aggregator partner farmer's position are in the agricultural position 4.0. Of the 6 management elements, only 2 management elements are already in position 4.0. This shows that online aggregator partner farmers have utilized the market using information and communication technology (ICT) as well as materials, especially materials used by farmers in the cultivation process, starting with quality seeds or organic material. The results of the Focus Group Disscussion (FGD) using the value chain analysis questionnaire produce a value chain road map that shows that a series of activities carried out by online aggregators include upstream and downstream activities where farmers are not only suppliers / producers to aggregators but can be aggregate consumers in the process The core provides input.
Strategic policy modeling techniques on the aggregator of the value chain road map using a hard system, namely Interpretive Structural Modeling (ISM) analysis by formulating the structure through the analysis of complex system elements to determine the key elements based on the processing of interviews with 6 online aggregator owners. This ISM analysis yields 5 key elements and sub-elements in the online commodity aggregator business model of vegetable commodities 1) core process; 2) Actors who play a role; 3) Services; 4) Obstacles 5) Strategic policies.
5 elements of ISM processing results from the value chain road map are used to build the Analytic Network Process (ANP) framework and are processed to obtain priority elements and formulate strategic policies using. This processing involved 7 experts consisting of academics, online aggregator experts, and the government. ANP results show that the business model of vegetable commodity-based online aggregators starts with a strategic policy which is a priority cluster in this model, namely the policy to improve internet and network infrastructure because all business activities carried out by the aggregator utilize the internet network. The priority of service clusters is e-commerce, clusters of the main actors that play a role are farmers, the core process clusters are marketing downstream products, clusters of unstructured network infrastructure. The distinctive feature of this business model for vegetable commodities is that the delivery process using a cooler will keep vegetable commodities from breaking down quickly and through online technology through applications and websites will speed up the delivery process from farmers directly to consumers. Farmers who are familiar with the internet will be able to become online aggregator partners, but for farmers who are not familiar with the internet, they can continue to be an aggregator partner but through a contact first.
Managerial implications are based on the core process and the main function of the aggregator as an intermediary for marketing agricultural products that utilize ICT, so e-commerce services are the most important service to be developed. Input providers need to be developed because the aggregator is connected to farmers so that the aggregator is able to act as an input provider for partner farmers. The aggregator acts as a collaborator of each agribusiness sub-system. There are three main actors who keep the top order, namely farmers, government, and consumers.
Theoretical implications obtained from this study are as follows: 1) Intermediaries as modern actors who use ICTs in this case online aggregators can change the agribusiness system which in theory in the agribusiness system intermediary position is on the downstream side but in this study the aggregator becomes a collaborator between upstream , cultivation (on farm), as well as downstream. 2) In the theory of value chain governance by Gereffi et al. revealed that there are several forms of value chain governance. The online aggregator value chain road map obtained in this study shows that with the help of technology the value chain governance has been integrated from the material to the end user, the level of coordination used is also high connected to each other through applications
Model prediksi kegagalan bpr/bprs berbasis tata kelola
Full text linkResearch on the analysis of BPR/BPRS failure predictions is motivated by increasing of BPR/BPRS are determined into the status of Banks under Supervision Status (BDPK). BPR/BPRS in BDPK status which can not be resolved by the banking supervisory institution (currently OJK, previously Bank Indonesia), then submitted as a failed bank to LPS. After analyzing the fulfillment of requirements to be rescued, none of the BPR/BPRS failed to be saved. This means that all BPR/BPRS failed were liquidated. Since LPS operated in 2005 until now, it is recorded that from a total of 1,915 BPR/BPRS that have been operating until 31 December 2017, 184 banks have placed BDPK status, and 84 banks (45%) have had their business licenses revoked by BI/OJK, not including self liquidation.
Based on the results of a study conducted by LPS in 2016, the main cause of the increasing of BPR/BPRS being liquidated was due to fraud committed by the owners, management, and bank employees. The findings of the LPS for the deviations include fictitious lending, loan installments that are not recorded in bank’s bookeeping, withdrawal of deposits without the permission from customers, and loans that are not supported by adequate collateral.
Capital Adequacy Ratio (CAR) is used by OJK as consideration to determine whether BPR/BPRS in BDPK status or not. If the troubled bank has a CAR of less than 4% (four percent), the banking supervisory institution determines the bank's status as BDPK.
The purpose of this research are first to test the financial ratio analysis, which is the CAR calculated based on financial statements published by BPR/BPRS, is reliable for predicting bank failure. Second, to develop a failure model for BPR/BPRS based on governance implementation. This research is expected to be input for LPS in developing bank failure prediction analysis especially BPR/BPRS. For OJK, this research is expected to be input in conducting bank restructuring actions, especially BPR/BPRS, for example, it must conduct a financial statement audit by a public accountant regardless of the number of assets owned by BPR/BPRS, provisions regarding the concurrent position between shareholders, commissioners and/or directors .
This research was conducted by making a forecasting of BPR/BPRS CAR data published before BDPK. The analysis technique used is the ARIMA forecasting technique, trend analysis and sign tests.
Fraud occurs because of weak implementation of good governance (good corporate governance). This study examines several variables as proxies for weaknesses in governance implementation, namely (1) incompleteness of the statement of responsibility if the bank fails from the commissioner; (2) incompleteness statement of responsibility if the bank becomes a failed from the board of directors; (3) there is a dual role between shareholders and members of the board of directors; (4) the status of the BPR/BPRS status previously stipulated as BDPK; (5) the compliance of BPR/BPRS in paying premiums with the right amount, has an influence on the probability of failure of the BPR/BPRS.
Furthermore, based on test results, using stepwise analysis and logistic regression modeling is made.
The results showed that CAR of BPR/BPRS calculated based on financial reports published by BPR/BPRS every quarter is not reliable to predict failure of BPR/BPRS. In addition, the results of the study also prove that there is a significant influence on the weakness of governance implementation in the failure of BPR/BPRS, namely (1) there is a dual role between shareholders and directors; (2) compliance of BPR/BPRS in paying premiums with the right amount; (3) completeness of the responsibility letter from the directors; (4) completeness of the responsibility letter from the commissioner; and (5) the status of the BPR/BPRS previously has been determined as BDPK.
Based on the results of the study, the BPR/BPRS failure prediction model based on governance implementation is as follows:
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Where:
Pi
:
BPR/BPRS probability failed
X1
:
The dual roles of shareholders and members of the board of directors
X3
:
Compliance with the bank in paying premiums with the right amount
X5
:
Incomplete statement letter from directors
X6
:
Incomplete statement letter from the controlling shareholder
X8
:
Bank has been designated as BDPK
Managerial implications on the results of this study are the need to improve the governance of BPR/BPRS, namely (1) policies regarding the prohibition of the dual roles of shareholders and BPR/BPRS board of directors; (2) eliminates exceptions for BPR/BPRS not to report audits finance by public accountants; (3) implementation of sanctions for controlling shareholders or BPR/BPRS board of directors members who do not submit a responsibility letter to LPS to comply with all provisions of the LPS guarantee program and are personally responsible for negligence and/or illegal actions that result in losses or endanger business continuity bank; and (4) increased supervision by OJK with more focus on the implementation of good corporate governance
Dampak peristiwa politik dan ekonomi terhadap indeks harga saham gabungan dan indeks LQ45
Full text linkPolitical and economic events which occured in Indonesia or other country
will affect the performance of Indonesian capital market. Events which occured are
very important to be analyzed because at that time the country's economy became
unstable. It has an impact on the dynamics of the stock market price index and
trading volume activity which had become very volatile because investors will
respond to the events which occured. The objectives of this study are: 1) Analyze
the differences of abnormal returns that found in Indonesia Composite Index and
the LQ45 index between before and after event, 2) Analyze the differences of
trading volume activity in Indonesia Composite Index and the LQ45 index between
before and after event, 3) Analyze the forms of market efficiency of Indonesia
Composite Index and LQ45 index on each event.
Event study method is used with an estimation window for 100 days and an
event window for 1 day until 10 days before and after the event. In addition, a
statistical paired sample test was used to test the significance of an event against the
dynamics of Indonesia Composite Index and LQ45 index returns and volume. The
result of the analysis show that the 2016 US presidential election had a significant
negative impact on the return and volume of Indonesia Composite Index. The BI
rate cut from 6.75 percent to 6.5 percent in 2016 also had a significant positive
impact on the return and volume of Indonesia Composite Index. Meanwhile, other
events did not have a significant impact on the return and volume of Indonesia
Composite Index and LQ45 index.
The result of the event study analysis and paired sample test in this study
indicate that investors have anticipated the occurrence of the event because there
were a lot of issues before the event, so that the predicted events will not have
significant impact on stock returns and volume. In addition, it was found that the
LQ45 index does not fluctuate too much on each event so that the LQ45 index can
be an alternative option for investors to make investment decisions at the time of a
similar event that is likely to occur again in the future
Strategi penguatan usaha penggilingan padi kecil di kabupaten indramayu
Full text linkThe number and capacity of rice mills currently exceeding the amount of grain production causes the struggle for raw materials so that rice mills are difficult to produce at full capacity. Rice milling businesses in Indramayu Regency are dominated by small rice milling businesses (PPK) with low quality and yield. This study aimet at analyzing the internal and external factors of PPK businesses as well as formulating alternative strategies and determining priority strategies of efforts to strengthen PPK businesses. Sampling is done by using a non-probability sampling method with a purposive sampling technique. Respondents were selected from the internal milling business of a number of 20 PPK businesses and three large rice milling businesses (PPB) as well as external PPK businesses namely the Head of Procurement Section of the Indramayu Bulog Regional Sub-Division and the Bogor Agricultural University teaching staff of milling and rice experts. The preparation of the PPK strengthening business strategy was carried out using the strategy formulation techniques integrated into the three-stage decision making framework, namely the input stage, the matching stage and the decision stage. The input stage uses the EFE and IFE matrices while the matching stage uses the IE and SWOT (strength, weakness, opportunity, and threat) matrices. At the decision stage to prioritize PPK business strengthening strategies using the QSP matrix. The EFE matrix showed the availability of raw materials (rice) from farmers as the main opportunity and increasingly modern machinery technology as the biggest threat. The IFE matrix showed the proximity to raw material sources and markets is a major strength and lagging technology and the simplest machine configuration is the biggest weakness. Based on the IE matrix, PPK businesses are in quadrant IV and the SWOT matrix produced seven alternative strategies consisting of (1) Intermediate PPK business partners to invest in mechanical drying machines; (2) Add skilled workers; (3) The government helps access market price information; (4) Building partnerships with PPB; (5) Revitalization of tools and machinery; (6) Looking for sources of capital through investors; and (7) The government fosters existing and regulating milling businesses for new milling businesses. At the decision stage, using the QSP matrix produced a strategic priority that must be made by the PPK business, namely to build partnerships with the PPB business
Pengaruh keadilan organisasi dalam penilaian kinerja terhadap kepuasan penilaian dan kinerja karyawan di ptpn perkebunan nusantara v pekanbaru
Full text linkPerformance appraisal is an important aspect in company HR management for measuring employee performance based on established performance standards. Since 2012, management of PTPN V implemented a competency-based performance appraisal system (CBPM) which replaced the DP2K performance appraisal system. One indicator of the effectiveness of the performance appraisal system is the employee acceptance to the system because employees feel fairness in performance appraisal and employees feel satisfied with the performance appraisal. This study aims to analyze organizational justice in performance appraisal and its influence on satisfaction toward performance appraisals and employee performance at PTPN V Pekanbaru.
This study is a causal descriptive approach with survey’s strategies. Data collection used an online questionnaire for managerial employees with 196 respondents from all job positions in PTPN V. The sampling technique used was purposive sampling. Data analysis used is descriptive and inferential statistical analysis. Descriptive analysis is carried out by analyzing mean values, analysis of range criteria, analysis of different test of mean and crosstab analysis. Inferential statistics for testing the research hypotheses used are multivariate statistics, namely the analysis of structural equation modeling (SEM) with the Partial Least Square (PLS) approach using SmartPLS version 3.2.7.
The results of the study showed that organizational justice in the performance appraisal at PTPN V had run well and the employees expressed satisfaction with the performance appraisal. SEM analysis shows that organizational justice in performance appraisal has a significant effect on satisfaction toward performance appraisal with a loading factor of 0.854. Organizational justice in performance assessment has a significant direct effect on employee performance with a loading factor of 0.392. The satisfaction toward performance appraisal does not influence to employee’s performance, so it’s does not mediate the indirect effect of organizational justice on performance appraissal to the employee’s performance. This can be interpreted that organizational justice is very important in the implementation of performance appraisal because it has a contribution to increase employee satisfaction and performance
Strategi pengembangan usaha rumput laut di kabupaten buton sulawesi tenggara
Full text linkSeaweed is a huge resource in Indonesia which is a potential to be developed. This shows that the great potential of seaweed in Indonesia to be developed and become a superior product of Indonesian export commodities is very important. Southeast Sulawesi Province has one province that has lower seaweed production than other provinces in Sulawesi. Nevertheless, this province has the widest land area of 54,770 hectares.
Buton Regency is one of the districts in Southeast Sulawesi which has a very high potential for seaweed development, which is 9 825 hectares, but until 2016 this is much lower if you see the potential for development carried out by the local government. Thus it is very important to develop a seaweed business strategy in Buton Regency. This study aims to 1) Factors influence the development of seaweed business in Buton Regency; 2) Alternative strategies for developing seaweed business in Buton Regency; 3) Priority strategies and managerial implications for enhancing seaweed business development in Buton Regency.
Research methods were using Internal Factor Evaluation Matrix (IFE) and External Factor Evaluation Matrix (EFE), SWOT Matrix, and QSPM Matrix. Total respondent of this research is 5 respondents, conducted with interview in February 2018. IFE/EFE Matrix result showed factors influence the development of seaweed business consists of the main strength factor that are superior cultivation commodities, the main weakness factor of not been able to fulfil the demand, the main opportunity factor from big market demand, and the main threat factor of ice-ice disease. The results of the SWOT Matrix in this study resulted in 8 alternative strategies, those are 1) Expansion of seaweed cultivation area; 2) Increasing institutional role in each stakeholder of seaweed (farmers, distribution, marketing and government); 3) Strengthening the market price strategy; 4) Enhancement of productivity, quality and competitiveness of seaweed; 5) Intensive government participation in HR development, guidance and training; 6) Evaluation and analysis of risk management of seaweed cultivation in Buton Regency; 7) Application of appropriate technology, in improving risk management of seaweed cultivation; and 8) Improvement of infrastructure and system implementation of seaweed industry in Buton Regency.
Decision making in this study was using the Quantitative Planning Matrix Strategy (QSPM) that showed alternative seaweed business development strategies that have the highest priority is a strategy to expand the area of seaweed cultivation, so that with the expanded area of seaweed cultivation, seaweed production is expected to increase
Analisis faktor-faktor yang mempengaruhi keputusan penggunaan jasa go-ride pada pt.go-jek indonesia
Full text linkThe development of communication and information technology is increasingly rapid, will encourage creating something more efficient, easy and bring benefits, both for users and their own creators. Indeed the development of information technology aims to provide convenience for its users for several issues that continue to be received in daily life. PT. Gojek Indonesia or Go-jek, which was founded in 2011, is one of the companies that is engaged in saying that it provides mobile phone-based online transportation services that can be enjoyed by the general public through an application called Go-jek. The existence of alternative public transport service innovations is known as the real-time ride sharing system. As one of the services provided by Go-ride, it provides convenience for the community in determining the use of transportation services to support their activities.
This study aims to analyze the factors that influence the use of Go-ride services and analyze the process of use decisions that are done by Go-ride consumers. Predictive factor variables are price, promotion, service quality, word of mouth, brand image, and purchasing decision. This research was conducted on 130 respondents who were selected by purposive sampling with the criteria of the respondents being GO-RIDE users who had made transactions at least three times in the past week and were active in Jakarta. Data is collected by filling out questionnaires distributed online. Data were analyzed using the Path Analysis method which was supported by SPSS statistical software.
From the results of the data that have been processed, it can be concluded that the results of this study are oral marketing (word of mouth), price , perceived service quality and Brand affect the decision to use or purchase
Perilaku penggunaan internet banking sebagai alat transaksi finansial
Full text linkIndonesian people mostly use internet services for chatting aplication, meanwhile the using of internet service for accessing banking services still has a very small percentage. One of banking services that uses internet access is internet banking. Bank XYZ is the first national bank that introduce internet banking in massive. The introduction of internet banking to customers is important, because the using of internet banking could provide benefits to companies such as business expansion, customer loyalty, revenue and cost improvement, and competitive adventage. Because of those benefits, the using of internet banking has to be improved. There are two types transaction in internet banking, financial and non-financial transactions. The usage of Bank XYZ internet banking for financial transactions is still below the target, which is less than 50 percent. There are eight latent variables used in this study. Those variables are perceived ease of use, perceived usefulness, visibility, enjoyment, social influence, attitude toward using, behavioral intention and actual usage. This study uses the Technology Acceptance Model (TAM) approach. The objectives of this study are (1) to analyze the effect of perceived usefulness, perceived ease of use, visibility, enjoyment, and social influence on attitudes toward using, (2) to analyze the effect of perceived usefulness and attitude toward behavioral intention, (3) to analyze behavioral intention towards the actual usage of internet banking financial transactions, and (4) to formulate managerial implications that could be applied in developing internet banking for the company's business in the future.
The study was conducted in September 2018 to November 2018. The sampling technique in this study was convenience sampling with a total sample of 130 respondents. The criteria of the respondents are XYZ Bank customers who have used internet banking at least for six months. Statistical tests using the technique of Structural Equation Modeling (SEM) using LISREL 8.5.1 software, and descriptive analysis was using SPSS 24. Based on the results of the study, the majority of respondents were women and the age range of respondents was in productive age (26-35 years). The respondent's educational background was dominated by undergraduate and the majority of respondents were private employees. The financial transaction menu that became favorite to be used was transferring funds. Half of the respondents used internet banking more than once a week.
Based on a model-specific level evaluation, this research model had good fit model. Based on the model compatibility test, all indicators had fulfilled the requirements of validity and reliability. The results of this study were perceived ease of use was significant toward perceived usefulness, perceived usefulness was significant toward behavioral intention, visibility and enjoyment were significant toward attitude, attitude toward using significantly influences behavioral intention and behavioral intenton was significant toward actual usage. Visibility and enjoyment affected the actual usage indirectly .
The managerial implications that could be applied are management should be focus on targeting private employees. In addition, management should improve the appearance and features to enhance the sense of comfort and provide a pleasant experience when using internet banking. Management should increase advertising which shows that internet banking has been widely used by the surrounding community
Pengaruh kapitalisasi pasar saham dan variabel makroekonomi terhadap indeks harga saham gabungan di bursa efek indonesia
Full text linkStock market has an essential role in national economy as it provides an overview about the country’s economic condition and stock market serves two functions in an economy. First, as a means for a company to obtain funds from the public for business development. Second, as a means for public to invest in financial instruments like stock, bond, mutual fund, etc. People can place their money acording to the characteristics of profit and risk of each instrument.
The place of stock market transaction in Indonesia is Indonesia Stock Exchange (IDX) which was established through the merger between Jakarta Stock Exchange and Surabaya Stock Exchange on November 30, 2007. The merger was undertaken to improve national stock market efficiency which is expected to promote an increased attractiveness and industrial competitiveness in the international level. In addition, merger also stimulates the change of market capitalization. The change of capitalization is influenced by the existence of price change and the issuance or reduction of stock recorded in the exchange.
The post-merger IDX experienced an immensely rapid growth. IDX’s market capitalization value at the beginning of the merger was Rp 1 076.49 trillion, the number of listed companies were 396, the new issuers were 17, and the delisted companies were 6. Those data keep improving until the market capitalization in 2017 amounted to Rp 7 052.39 trillion, the number of listed companies were 566, listing listed companies were 37, and delisted companies were 8. The growth of capitalization has an impact on stock price change. The projection of Indonesia Composite Index (ICI) which amounted to 1.355,41 at the beginning of IDX’s establishment also went up to 6.355,65 at the end of 2017.
Aside from capitalization, there are many factors influencing stock price or stock return, both macro and micro-economic ones, leading to an ICI fluctuation. Macro factors are economic and non-economic. Macroeconomic factors are detailed in several economic variables, such as inflation, interest rate, exchange rate, economic growth rate, world oil price, world gold price, and regional stock index. Non-economic macro factors include domestic political events, social events, as well as international law and politics. The influence of macro factors on stock price is not always the same.
This research aimed to analyze the impact of stock market capitalization and macroeconomic variables on ICI and formulate recommendations of strategy to enhance stock investment markets capitalization after 10 years of merger. The macroeconomic variables analyzed were inflation, world oil price, world gold price, and Hang Seng regional index.
This research used quantitative and qualitative data approach. Quantitative data comprised ICI, stock market capitalization, inflation, world oil price, world gold price, and Hang Seng Index. Secondary data were obtained from internet, in the form of quarterly time series data from January 2008 until December 2017, which were processed from monthly data using average method. The qualitative data used were sourced from 4 experts in IDX and 2 experts in Bank Indonesia. Eviews 6 software was utilized to support this research in data analysis.
The analysis model used in this research was Error Correction Model (ECM). This model is used to correct the regression equation between variables which are individually non-stationary to return to its equilibrium value in long run, provided that there is cointegration linkage between the variables that make up the equation. The formulation of strategy recommendations made use of Analytical Hierarchy Process (AHP) to capture respondents’ opinion regarding the strategy to enhance stock investment capitalization and optimization in IDX.
The results of this research showed that in general, all independent variables in the long run had a positive and significant impact, except inflation which had a negative and significant impact. In short run, stock market capitalization and Hang Seng Index had a positive and significant impact, while SBI interest rate had a positive and insignificant impact. Inflation and world oil price had a negative and significant impact, while world gold price had a negative and insignificant impact. Error Correction Term coefficient had an impact of -0.207329 with a negative and insignificant direction at the significance level of 5%. It showed that the adjustment mechanism process or adjustment process in the long run equilibrium lasted for 5 quarters.
Stock market capitalization both in short run and long run had a positive and significant impact and more dominant impact than the impact of macroeconomic variables. In consequence, a strategy to enhance stock investment capitalization and optimization in IDX was required. The recommended strategy was a strategy to encourage an increased investment in large-cap stock so that ICI can continue to grow and be more resistant to macroeconomic turmoil. Based on the results of AHP vertical analysis, factors that become a priority in the strategy is the policy (monetary and capital markets), actor priorities Indonesia Stock Exchange and Bank Central Indonesia a priority objective of the investment climate and economic stability conducive. Recommended alternative strategy to increase investment in large-cap stocks
Pengaruh openness personality, online trust, celebrity endorsement, dan perceived value terhadap minat beli melalui instagram
Full text linkThe existence of internet is perfectly needed. In 2016 internet users had reached 132.7 million people (51.7%) from the total population Indonesia citizens (APJII 2016). However, based on the Press Conference number 53 in 2018 the internet users reached 143.26 million people (54.68%) from the total population of Indonesia citizens. This proved that there was a huge increase of 10.56 million people (2.98%).
According to APJII (2017), internet users in Indonesia may vary from people in the age group of 13-18 years old (16.68%), 19-34 years old (49.52%), 35-54 years old (29.55%) and above 54 years old (4.24%). This proved that the biggest internet users were people in the age group of 19-34 years.
One of the most common part of internet is social media. Based on the research conducted by APJII (2017), the biggest usage of social media platforms in Indonesia are Instagram (82.6%), Facebook (66.5%) and Path (49.6%). This research was also supported by Jakpat (2016) as there was a huge increase in the number of online seller in instagram from 26.02% in 2015 to 60% in 2017.
There are five latent variables used in this research, such as openness personality and celebrity endorsement as independent variables, online trust and perceived value as intervening variables, and purchase intention as dependent variable. The purpose of this research are (1) to identity openness personality, online trust, celebrity endorsement, perceived value, and purchase intention by instagram, (2) to analyze the effect of openness personality to online trust, (3) to analyze the effect of online trust and celebrity endorsement to perceived value, and (4) to analyze the effect of openness personality, online trust, celebrity endorsement, and perceived value to purchase intention.
This research used cross sectional design method. The quantitative approach is carried out by online survey methods to respondents. The data was collected from August to September 2018. The respondents were determined by purposive sampling technique. Respondents of this research were 20-35 aged people who bought the latest clothing or cosmetic products through instagram in the last several months. This research used the sample of 249 respondents. Data processing technique used in this research is SEM (Structural Equation Modeling) with AMOS 22 software and descriptive analysis using SPSS 22.
Based on the results of the study, it is found that the majority of respondents are women in the age group of 20-25 years old and undergraduate students. The last purchased products other than clothing and cosmetics are accessories, the number of products purchased is 1-2 pieces, the frequency of purchases is 1-2 times, the reason for seeing celebrity endorsers is to attract attention. Instagram usage behavior is to look at vacation spot recommendations in cosmetics products, while in instagram, clothing behavior products are looking at food reviews.
Based on the evaluation of overall model fit, this research model includes good fit and marginal fit so it is feasible to do hypothesis test. The result of this study on clothing and cosmetics products are the effect of openness personality is significantly positive to online trust, online trust is significantly positive to perceived value, celebrity endorsement is significantly positive to perceived value, online trust is significantly positive to purchase intention, perceived value is significantly positive to purchase intention, and celebrity endorsement significantly positive to purchase intention. For clothing, the effect of openness personality is significantly positive to purchase intention. For cosmetics, the effect of openness personality is not significantly positive to purchase intention.
The managerial implications of clothing products are maintaining online trust and perceived value. For perceived value can be maintained by providing more detailed information about the clothing products sold. For online trust can be maintained in an honest way to consumers. Celebrity is used to promote clothing products that have the ability to attract the attention of consumers and are an idol in the Millennial generation. Online cosmetics and celebrity endorsement cosmetic products are retained because they have an important role in buying interest. For online trust can be maintained in an honest way to consumers. Celebrity is used to promote cosmetic products that have the ability to attract the attention of consumers and are an idol in the Millennial generation