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Valuation Analysis of HYBE Co., Ltd.
Get PDFHYBE Co. Ltd is considered as a strong player in the Korean entertainment industry since they record an all-time highest operating profit of 130.1 billion won in 2020, surpassing all of the other publicly-listed companies in the industry, namely SM, YG and JYP Entertainment. However, a lot of investors claim that HYBE Co., Ltd.'s stocks are overvalued. This study aims to estimate the intrinsic value per share of HYBE Co. Ltd., and determine whether the share price of the company is undervalued or overvalued. The methodology that is used for this research is Discounted Cash Flow with Free Cash Flow to the Firm method. The result of the valuation is an intrinsic value for HYBE Co., Ltd. of KRW109,677, which is less than the market share price of KRW160,000. Therefore, the company is overvalued by the market, in which the author will provide recommendations for investors. Keywords: Free Cash Flow to the Firm, HYBE Co., Ltd, Valuatio
Transformational Leadership and Affective Commitment in the Public Sector: The Role of Public Service Motivation as a Mediator
Get PDFAbstract. Public service motivation (PSM) has become a popular topic discussed in various studies concerning the public sector. However, there is still limited literature discussing PSM, transformational leadership, and affective commitment simultaneously. Therefore, this study aims to examine the role of transformational leadership on affective commitment in the public sector by considering PSM as a mediating variable in the Indonesian context. This study applies a quantitative approach based on data collected from 172 Customs and Excise employee respondents. Primary data was obtained through a purposive sampling method and analyzed using a structural equation model (SEM). The results indicate a positive and significant influence of transformational leadership on PSM, PSM on affective commitment, and transformational leadership on affective commitment. However, the findings show that PSM does not mediate the effect of transformational leadership on affective commitment. The study also addresses some theoretical contributions and managerial implications concerning these topics.Keywords: Transformational leadership, affective commitment, public sector, public service motivation, mediating variableAbstrak. Motivasi Pelayanan Publik (MPP) telah menjadi topik popular yang dibahas di berbagai penelitian tentang sektor publik. Namun demikian, literatur yang mendiskusikan MPP dengan kepemimpinan transformasional dan komitmen afektif secara bersamaan masih terbatas. Oleh karenanya, studi ini bertujuan untuk menguji peran kepemimpinan transformasional terhadap komitmen afektif di sektor publik dengan mempertimbangkan MPP sebagai variabel pemediasi dengan konteks Indonesia. Studi ini menggunakan pendekatan kuantitatif berdasarkan data yang didapat dari 172 responden Bea dan Cukai. Data primer diperoleh melalui purposive sampling method dan selanjutnya diolah dengan menggunakan Structural Equation Model (SEM). Hasil penelitian menunjukkan bahwa terdapat pengaruh positif dan signifikan antara kepemimpinan transformasional terhadap MPP, MPP terhadap komitemen afektif dan kepemimpinan transformasional terhadap komitmen afektif. Namun demikian, MPP terbukti tidak memediasi pengaruh kepemimpinan transformasional terhadap komitmen afektif. Kontribusi secara teoritis dan implikasi manajerial juga disajikan dalam penelitian ini.Kata kunci: Kepemimpinan transformasional, komitmen afektif, sektor publik, motivasi pelayanan publik, variable pemedias
Stock Valuation and Business Performance of PT Indo Tambangraya Megah, Tbk.
Get PDFThe aims of this study are to recalculate intrinsic value of ITMG with the factors that might affect the valuation in mind and evaluating its business performance. External, internal, and business model analysis were carried out to know about the business from top to down. Linear regression modelling is used to know the effect of global coal price to ITMG’s revenue. Absolute valuation model such as DCF analysis was conducted to know the intrinsic value of ITMG stock price. Relative valuation model such as PER and EV/EBITDA were used to compare ITMG with its peers. Based on DCF analysis, the intrinsic value per share of ITMG is IDR 15,910 per share and it has margin of safety 34% to the current market price with close price at 26 April 2021. Current market price for ITMG is IDR 11,850 and since the intrinsic value is higher than the current market price then the stock is undervalued. For the PER, ITMG is the highest in 2020, and for the EV/EBITDA is the second lowest in 2020 compared to its peers. The recommendation for the investor would be to buy ITMG stocks. Keywords: Absolute valuation, DCF, intrinsic value, relative valuation, stock
The Influence of Social Media Marketing and Digital Textile Printing on Consumer Engagement: A Study of Indonesian Batik Industry
Get PDFThe Indonesian batik industry is undergoing technological-oriented changes, namely utilization of social media marketing and digital textile print strategies. Consumers argue that it threatens the traditional batik’s cultural sustainability and alters the original quality and storyline. The purpose of this research is to analyse the effects of the technological modernization of the batik industry to the consumer engagement, attitudes, and loyalty chain. The examined data collected will help raise awareness and actions taken from various stakeholders to ultimately help preserve and protect the sacred art and business of Indonesian batik.This qualitative research uses a natural semi-structured interview method with credible Jakarta-based batik consumers to represent the descriptive primary data collection, while secondary data gained from online peer-reviewed journals and articles are all analysed using the content analysis method.Findings imply that social media marketing and digital textile print technologies have a highly effective cognitive influence to the different coexisting batik market segments engagement chain. They are more likely to engage with online influencers and enthusiast communities as it catalyses emotional attachments to the brands thus impacting purchasing decisions. Both segments still prefer the hand-made products but some are empathetic towards the digital printed ones’ circumstances. Keywords: Consumer Engagement, Digital Textile Print, Indonesian Batik, Social Media MarketingConsumer Engagement, Digital Textile Print, Indonesian Batik, Social Media Marketin
Evaluation of Alternative Solutions to Recover Deferred Oil Production Due to Facility Constraint: Case Study of Bravo Gathering Station in an Oil Company, PT XYZ
Get PDFBravo is one of PT. XYZ's biggest oil fields and its fluid production is treated at Bravo Gathering Station. Lately, Bravo GS has been facing a serious production problem. Several oil producers are shut-in as the field production exceeds the processing capacity. This has resulted a significant amount of deferred-oil-production (DOP) and revenue loss. This research aims to identify the root cause and figure out the solution to eliminate constraints. Brainstorming and Focus Group Discussions with experts is extensively used in this research during problem analysis and alternative creation using Value Focused Thinking (VFT) approach. Multiple alternative solutions are developed, using safety, economic performance, cost efficiency, and execution cycle time as the decision criteria. Analytical Hierarchy Process is used in this research for decision making process, and Experts are requested to provide rating on pairwise comparisons of each criterion and alternative based on their technical knowledge and experience. The 3rd alternative solution which reduce the incoming water production through the water shut-off (WSO) job appears to be the best alternative solution according to the consolidated AHP result. The result indicates that this alternative has a very strong upside on safety, cost efficiency, and execution cycle-time criteria among other alternatives. Keywords: Deferred Oil Production (DOP), Constrained Production, Value-Focused Thinking (VFT), Analytical Hierarchy Process (AHP
Antecedents of Supply Chain Technology Adoption: A Theoretical Framework and Future Directions
Get PDFIn today's dynamic business environment, supply chain is a crucial part of business operations. Technologies play an important role in the success of the supply chain. Although the technology is widely used in many industries, but the adoption of SCT for SMEs is limited. The objectives of this study are to identify the factors affecting SCT adoption, determines the relationship between the factors affecting the adoption of SCT and identify the types of technologies used by SMEs in Malaysia. Previous studies used only a limited viewpoint approach to SCT adoption. Thus, the researcher proposed an integration model based on Diffusion of Innovation (DOI) and Technology Organization-Environment (TOE) theory to explore the determinants that affect the adoption intention of SCT. This study will employ a quantitative approach. Data will be collected through a questionnaire on the SMEs in Klang Valley, Malaysia. It will be analyzed using Structural Equation Modelling (SEM) via partial Least Square (PLS). The results will contribute to a better understanding of the determinants affecting SCT adoption among SMEs in Malaysia subsequently can lead to improved business performance with the utilization of the SCT.Keyword:Diffusion of Innovation (DOI), Supply Chain Management (SCM), Supply Chain Technology (SCT), Small and Medium Enterprises (SMEs), Technology Organization-Environment (TOE
How Business Survive the Covid-19 Pandemic: Insights form Indonesia
Get PDFThe current paper aims to identify how businesses in Indonesia respond and adapt in the Covid-19 crisis. It focuses on news reported in publicly available and accessible outlets, i.e., national and regional newspapers, and business magazines. The study draws upon qualitative research approach using an archival study. The empirical case illustrates how firm utilize to flexibility alter its strategy during the pandemic. This paper present four typology of strategy based on level of innovation and their impact that are survival, synchronizing, stretching and shifting in respond to crisis. This research discovers how Indonesia business select and carry out business strategies by exploring the initiatives and innovation of the firms. In the time of crisis Indonesia companies have to choose specific strategy for each of based on their capabilities. Among the limitations, reliance on publicly available and accessible data sources, single country context, exploratory in nature and data sources are mostly published in Bahasa. This research offers contribution to knowledge of flexibility of business strategies in respond to crisis. This paper is supported by Indonesia Endowment Fund for Education (LPDP). Keywords: Recovery strategies, Covid-19, Indonesi
Cynicism and Organizational Change Capabilities as a Predictor for the Project Performance of Ciputra University Students
Get PDFThis study discusses cynicism that affects Organizational Change Capabilities on changes in Change Performance in the business start-up project of Ciputra University students. Data collection techniques used in this study used a questionnaire distributed to fellow students who have business projects and at least have a CEO and 2 (two) members. Sampling was carried out with the saturated sampling method and produced 95 questionnaires that were feasible for analysis. In examining the phenomenon of cynicism, in the ability of organizations to organizational performance, this study uses a multilevel analysis technique with a unit analysis unit for start-up project teams. Because the data collected is divided into two levels, the team level (data from the CEO) to assess organizational capability (OCC) & organizational performance (CP) and individual level (data from project members) to assess organizational capability (OCC) & cynicism (Cynicism), then an aggregation of data from individual levels is carried out so that the data can be analyzed at the same level. This research is expected to provide insight and learning to business start-up projects of Ciputra University cynicism (Cynicism) students that affect organizational capability (Organizational Change Capabilities) on changes in organizational performance (Change Performance) in running a business. The results of this study indicate that the organizational ability variable (OCC) influences organizational performance (CP) and if cynicism variable (Cynicism) moderate organizational capability (OCC) then the effect will increasingly affect organizational performance (CP).Keyword:Cynicism, Organizational Change Capabilities, Change Performance, Aggregation, Moderation
The Effect of Korean Brand Ambassador Towards Luxury Brand Purchase Intention
No full textLuxury brands will be really different for the next five year. They started to move from chasing American and European markets to rich millennials in Asia. Asia became the highest region that contributed for Dior revenue in 2020 with 34% and 8% for the Japan market only. Those numbers are very high and we can conclude that Asian market buying power for luxury brands is high. The phenomena of the Korean wave make luxury brands use the artist for their ambassadors, and also use the fanatic fans to increase their brand awareness. However it has not been tested if the strategy works for the luxury brand market penetration and increases the purchase intention. The objective of this research is to identify the factors that influence the purchase intention of a luxury brand by using Korean Brand ambassador and to understand the effect of Korean brand ambassador for luxury brands on purchase intention in Indonesia. In this study research used quantitative methods by collecting data through survey questionnaires and judgmental sampling as the sampling method with the total of 148 respondents that are luxury brand consumers, also using PLS-SEM to analyze the result of the survey. The result shows that celebrity endorsement positively impacted luxury brand purchase intention through brand trust, brand psychological ownership, and brand attitude.
EVALUATING PERFORMANCE TO IMPROVE CAPACITY EFFECTIVITY AND TIME OF SERVICE: STUDY CASE PT BERKAH MULTI CARGO
No full textThis paper aims to evaluate design layout depot container to improve the performance of existing capacity to be more efficient. The design of the layout depot container can now be said to have not followed a good design so that it needs to change the container depot design as a whole so that the existing capacity in each depot can be maximized.Data collection is a very important method in a study. Data collection in this study through field observations for 7 days at 09.00-16.00 where at this hour were the busiest and active hours in each depo. As for historical data, it will use production data from Depo CCC-CDC for 2015 to 2018. Where this data includes container flow data that goes to the Banjarmasin CCC-CDC depot.Based on the results of interviews that have been conducted, many say that the container service time is long because the position of the container is piled up by another container, so it is necessary to shift the container first. Shifting containers vary from 1 box to 3 boxes. With this container shifting, it can be concluded that container arrangement still needs to be improved and the costs that come out become bigger.The effect of fuel consumption greatly affects the cost because the price for subsidized Solar fuel is Rp 5.150.00 and Solar Industry is Rp 11,020.00. With a better arrangement on the container, depot can reduce shifting containers will affect the cost of Reach Stacker because the costs incurred by Reach Stacker is quite large. Truck costs will also decrease because the fuel consumption will also decrease because trucks will be served faster and require less time in the container depot. Reduce waiting times for service and control of parking vehicles in the container stacking area.Keywords: Capacity, Container, Depot Container, Layout, Shiftin