Jurnal Manajemen dan Kewirausahaan
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EMPLOYEE PERFORMANCE: THE MODERATING ROLE OF LEADER-MEMBER EXCHANGE (A STUDY ON THE FAST-FASHION RETAIL INDUSTRY)
Full text linkThis study investigated the knowledge gap in the retail sector by exploring the relationship between job satisfaction, counterproductive work behavior, and organizational citizenship behavior on employee performance moderated by leader-member exchange. The quantitative study used a survey method to collect data with purposive sampling and technique. The survey was conducted on 150 employees from 17 Jakarta, Bogor, Depok, Tangerang, and Bekasi (JABODETABEK) outlets. The data was analyzed using the structural equation modeling partial least square technique processed with smart-pls 3.3.3 tools. The study\u27s findings were as follows: job satisfaction negatively and significantly affected counterproductive work behavior, counterproductive work behavior affected organizational citizenship behavior, and organizational citizenship behavior positively and significantly affected employee performance. In the meantime, leader-member exchange moderated job satisfaction\u27s effect on counterproductive work behavior and employee performance but did not moderate counterproductive work behavior\u27s effect on organizational citizenship behavior. The research had novelty from the aspect of a specific sample characteristic: the employees of the fast-fashion retail. It used a conceptual framework that combined theories of job satisfaction, counterproductive work behavior, organizational citizenship behavior, and leader-member exchange to explain employee performance, which had never been done in previous studies in the fast-fashion retail context
STOCK PORTFOLIO OPTIMIZATION IN BULLISH AND BEARISH CONDITIONS USING THE BLACK-LITTERMAN MODEL
Full text linkBullish and bearish phenomena characterize the development of the capital market. Therefore, this study aimed to identify and analyze bullish and bearish conditions in the Indonesian capital market to formulate an optimal portfolio. The sample consisted of 20 selected companies based on their substantial market capitali- zation. The results showed that from January 2011 to December 2020, the capital market experienced 77 bullish and 43 bearish months. The transition probability from bullish to bearish and bearish to bullish state was 15.67% and 56.14%. Furthermore, employing the Markov-switching model for determining market conditions and using the Black-Litterman model for portfolio construction proved advantageous for investors\u27 financial forecasting techniques and their potential to generate valuable insights to create a well-informed portfolio
UNDERSTANDING GEN Z INVESTMENT DECISIONS: CAPITAL MARKET LITERACY AND EMOTIONAL BIASES
Full text linkThis study aimed to advance behavioral economics, specifically behavioral finance bias and literacy, in Generation Z investment decisions. The research data used 389 Generation Z capital market investors who were members of the investor community group. The data analysis technique used the PLS-SEM approach. The study\u27s results revealed that capital market literacy, overconfidence bias, confirmation bias, and fear of better options wielded substantial influence over the investment decisions made by Generation Z individuals within the Indonesian capital market. Interestingly, it was observed that mental accounting exhibited an insignificant effect on these investment choices. These empirical insights not only enhanced comprehension of investors\u27 financial behaviors within the capital market but also offered valuable insights to stakeholders in the capital market ecosystem, aiding them in comprehending and addressing the behavioral biases inherent in the decisions of capital market investors
VALIDATING AN INSTRUMENT TO MEASURE OPEN INNOVATION PRACTICES IN RESEARCH COMMERCIALIZATION
Full text linkThe Open Innovation Practice is getting well known as an initiative to help increase the rate of commercializing research output. Implementing open innovation practices within academia is essential in facilitating collaboration, fostering knowledge sharing, and facilitating technology transfer between academic institutions and industries. This pilot study aims to investigate and assess the validity and reliability of the instrument used to measure open innovation practices. Quantitative methodology was employed in this study, and data were gathered via a survey from 109 respondents. The respondents are among the lecturers at public universities in Malaysia that are actively involved in the commercialization of research output. The descriptive analysis shows that the respondents often practice open innovation in commercializing their research output. During the Exploratory Factor Analysis (EFA), the findings indicated that the Kaiser-Meyer-Olkin (KMO) value for the open innovation practice is 0.885, showing no severe problem of multicollinearity and Barlett\u27s Test of Sphericity demonstrates a statistically significant result. No item is eliminated in this study. Meanwhile, the reliability test for nine instrument items in open innovation practice is accepted with Cronbach\u27s Alpha of 0.916. To conclude, the discovery from this study indicates that the instrument acquires high validity and reliability and is well prepared to be tested for future stages
INTRAPRENEURSHIP OF MIDDLE-LEVEL MANAGERS: HOW TO TRIGGER THEIR ACHIEVEMENT MOTIVATION?
Full text linkThis research aimed to find a way to trigger the achievement motivation of middle-level managers as intrapreneurs. It was quantitative research with data collected from 41 store managers in a national bicycle retail chain in Indonesia through 32-Likert scale questions. Path analysis measures the effect of three independent variables and one intervening variable on a dependent variable. The findings indicated that the achievement motivation of a middle-level manager was directly affected by the reward system and job satisfaction. However, they need management support to become intrapreneurs in the retail business. Management support had a significant direct effect on job satisfaction and a significant indirect and direct effect on achievement motivation. The work environment, reward system, and management support simultaneously directly affected achievement motivation. In short, these findings encourage companies to focus on management support to trigger the achievement motivation of middle-level managers. Job satisfaction, reward system, and work environment also contribute to reaching this objective consecutively
HERD INSTINCT BIAS, EMOTIONAL BIASES, AND INFORMATION PROCESSING BIASES IN INVESTMENT DECISIONS
Full text linkThe evolution of information during the COVID-19 pandemic has altered how investors invest. Investments can be made easily on a variety of digital platforms that provide easy access to information in investment decisions. Information media is expanding to promote investment decision making, boosting the rise and development of investor financial behavior bias. This study attempts to fill a knowledge gap in behavioral finance by concentrating on behavioral biases such as Herd Instinct Bias, Emotional Biases, and Information Processing Biases in capital market investment decisions. PLS-SEM (Partial Least Square-Structural Equation Modeling) was used to evaluate the data of 205 Indonesian capital market investors who are members of securities companies. The data confirm that overconfidence, herding bias, confirmation bias, and recency bias influence investor investment decisions, whereas endowment bias had no effect on investment decisions
HUMAN vs. ROBOT: THE APPLICATION OF SMART TECHNOLOGY IN THE HOTEL INDUSTRY
Full text linkThe current use of robotics, artificial intelligence, and service automation (RAISA) illustrated that innovation developed very quickly and had an enormous impact on how consumers use tourism services. This study aimed to determine how tourism and hospitality employees dealt with the pandemic, particularly when implementing the protocol called physical distance in the new normal era. This study also intended to discover our hospitality industry\u27s readiness to confront a new normal era by applying technology to serve guests. This study conducted semi-structured interviews with 15 stakeholders. The findings indicated that the government and hotel management exploit this occurrence to enhance service quality, explicitly emphasizing hotel consumer comfort and safety. It was posited that the issues associated with the interaction between humans and robots extend beyond budgetary considerations, readiness, and maintenance. A crucial aspect to consider was robots\u27 potential replacement of service uniqueness, particularly in developing countries. Integrating robotics and artificial intelligence (AI) inside the hotel industry may need to reevaluate the hospitality and tourism education curriculum
THE INFLUENCE OF CUSTOMER INSPIRATION ON SOCIAL MEDIA MARKETING TOWARD ARCHITECTURAL SERVICE PURCHASE INTENTION
Full text linkSocial media has been used as a marketing tool by architecture firms to generate purchase intention. However, inspiration as a motivating internal response is needed to achieve the marketing objective. This study aims to examine the effect of utilitarian content, hedonic content, and openness as antecedents of customer inspiration, the effect of customer inspiration on purchase intention, and the mediating role of customer inspiration between antecedents and purchase intention. A total of 395 respondents were taken as samples using simple random sampling, and the data was then analyzed with SmartPLS. Results show that utilitarian content, hedonic content, and openness positively affect customer inspiration, and customer inspiration positively affects purchase intentions. Additionally, customer inspiration also mediates the effect of utilitarian content, hedonic content, and openness on purchase intentions. This study contributes to the literature on customer inspiration from a customer-firm relationship perspective. Moreover, this study can give insight for architectural firms to effectively practice social media marketing by focusing on creating customer inspiration through the content provided and targeting the right potential customers in order to generate architectural design service purchase intention
WILLINGNESS TO EMBED SOCIAL SUSTAINABILITY: A CASE OF GEN Y AND GEN Z ENTREPRENEURS IN INDONESIA
Full text linkThis research aimed to explore the motivators and willingness of Gen Y and Gen Z entrepreneurs in Indonesia to embed social sustainability in their businesses. This research employed a quantitative method via an online survey questionnaire, which was conducted based on a convenience sample of Gen Y and Gen Z alumni and students from several universities in Indonesia. The data were processed using SEM-SmartPLS3.0. The research finding showed that instrumental and normative motivators affected the willingness to embed social sustainability, while relational motivators had no effect. Previously, social sustainability research involved established industries and companies. However, this research focused on upcoming Gen Y and Gen Z entrepreneurs. The recommendations provided by this research for developing a sustainable business strategy framework in terms of social dimension for Gen Y and Gen Z entrepreneurs, among others, include strengthening the indicators of normative and instrumental motivators, and the willingness to embed social sustainability
STAKEHOLDERS’ ATTITUDE TOWARD ECOTOURISM DEVELOPMENT IN RINJANI-LOMBOK GEOPARK: THE EVIDENCE FROM MOUNT RINJANI NATIONAL PARK
Full text linkBased on stakeholder and social exchange theory, this study examined a model of the relationship between stakeholder awareness, perception of impact (environmental, economic, and socio-cultural), and attitude toward ecotourism development in Mount Rinjani National Park (MRNP). The model was tested using a sample of 157 stakeholders. Data were collected by surveying and analyzing using the partial least squares. The results showed that only perception of the economic impacts of ecotourism partially mediated the relationship between awareness and attitude toward ecotourism development. From the perspective of stakeholder theory, the perceived impacts are heterogeneous. These differences will determine their attitude toward the level of support and participation. From the perspective of social exchange theory, the study showed that attitude toward ecotourism development is directly influenced by awareness of ecotourism and the perception of economic impact. The stakeholders on MRNT have a more compromising attitude toward ecotourism development to the socio-cultural and environmental impacts