Sustainable Collaboration in Business, Technology, Information and Innovation (SCBTII)
ANALYSIS OF CONSUMER ENGAGEMENT IN TELKOMSEL FACEBOOK ACCOUNT: A CONTENT ANALYSIS
The high level of social media usage in society were used by most companies to communicate with their consumers. Telkomsel is one of the largest telecommunication company in Indonesia that used this beneficial social media to communicate and interact to their customer in this digital era. The existence of consumer engagement enables the occurrence of two-way communication between consumers with brands or companies so that mutual understanding for both parties occured from this interaction. Consumer engagement in social media can be seen from the number of likes and share of the company's brand page in social media based on four dimensions of brand experience which are perceptual experience, social experience, epistemic experience, and embodied experience. This research studied how perceptual experience, social experience, epistemic experience, and embodied experience influenced consumer engagement in Telkomsel’s Facebook account. Data collection method in this research is collect by taking data from brand post from account Facebook Telkomsel in November and October 2017 with the total number of brand post of 413 posts. Poisson regression are used to to determine the influence of brand experience to customer engagement. Based on the results of data processing, it is found that that Perceptual, Epictemic, and Embodied Experience have a positive relationship oncustomer engagement in Telkomsel Facebook account. Meanwhile, Social experience did not contribute to customer engagement. Based on the results of this research, Telkomsel should pay more attention to manage in their facebook account content to improve brand experience for their costumers as it been founded that customer that have more experience also have higher engagement to company. Keyword: Content Analysis, Costumer Engagement, Facebook, Poisson Regression
Copyright (c) 2019 Sustainable Collaboration in Business, Technology, Information and Innovation (SCBTII)
THE ROLE OF MANAGEMENT STYLE OF OWNER OR MANAGER OF CULINARY SMES IN EMPLOYEE ENGAGEMENT THROUGH INTERNAL COMMUNICATION
Culinary business owners, especially those with small and medium-scale businesses, have entirely control over the company. Control of the owner of the company is very influential on all decisions regarding human resources in the company. Therefore, the owner or manager of SMEs management style influences the decision making in employee recruitment, human resource development, intrapersonal relationship and communication within the company. The purpose of this paper is to show the owner or manager of culinary SMEs influences to internal communication and its implication to employee engagement within the company. Qualitative research conducted, a total seven owner and one general manager of culinary SMEs in Bandung were interviewed. To collect data, the author conducted a semi-structured interview method. All interviews consist of 8 structured and recorded questions for transcription purposes. The findings of the study show that the management style of the owner or manager influences the internal communication within the company. The management style of the owner or manager influenced by the size of the company itself. Employee engagement could be achieved through internal communication, however, in the culinary business cannot be achieved fully only by the company's internal communication. Small business grasps employee engagement through informal communication with family-working culture and formal communication in medium business with team building and training. Keywords: Employee engagement, Internal communication, Management style, SMEs
RECOMMENDATION TO INCREASE POINT REWARD REDEMPTION IN ABC POIN CASE STUDY
ABC Poin as a CRM program of ABC company must be improved to keep the customers satisfy and loyal so they do not move to other operators’ product. According to ABC Poin in 2017, the ABC Poin spending of the customer was low with the percentage of 17,8%. On the other hand, the average ABC customers had churn for 9,77% from the active customers in 2017. The low spending on ABC Poin indicated that this program was not effective as CRM program of the company to maintain the relation with its customers and as the main strategy of ABC company to decrease customer’s churn. Through this research, the effect was measured by LoS (Length of Stay), tier, redeem frequency, merchant, and redeem target towards the participation of ABC Poin customers loyalty program based on the ABC Poin spending transaction history. Moreover, this research clustered the participant of ABC Poin customer’s loyalty program to know the characteristics of each participant’s cluster in this program as a recommendation for a strategy to improve ABC Poin spending. The analysis technique used in this research was linear regression technique. Based on the analysis, it was known that the effect of Length of Stay, tie, redeem frequency, merchant and redeem target toward redeem percentage or the participation in the ABC Poin customer loyalty program showed a significant relationship. The evaluation model could be seen by the R square value of 0.794 which meant that the independent variable in the model was able to explain the percentage redeem variable of 79,4%, while the rest of 21,6% was explained by the variable outside the model. By using Silhouette Index as evaluation tool in the clustering by using K-means, there were five optimal clusters with the index which reached 0.639. From the analysis with K-means clustering was resulted in the customer’s characteristic of each from the 5 clusters. The strategy to increase ABC Poin spending was made concerning People, Process, and Technology. People meant that the professional service which gave personal touch to the customer and the awareness of ABC Point program. Process was about the improvement of merchant’s business acquisition process and benefit differentiation business process from ABC Poin according to the customer’s tier, while technology was regarding the usage of customer’s data analytic so the company could make a targeted offering or campaign to the customer. Keywords: Poin; Reward; Redemption; Linear Regression; Clustering; K-Means; Personalized Marketing.
STRATEGIES TO INCREASE PURCHASE OF DATA PACKAGES FOR TELKOMSEL KARTUHALO CUSTOMERS
The number of Telkomsel customers as of March 2018 is 196.3 million, which 105.8 million are customers with active user data categories. Based on data from Telkomsel, it can be seen that the majority of Telkomsel customer data usage is dominated for the use of Communication, Social, and Video. That Telkomsel can do Clustering based on customer behavior and make a combination of data packages that match with the characteristics of each group, it will make it a new breakthrough for Telkomsel to increase data package purchases. The purpose of this study was to determine the characteristics of kartuHALO customers and determine the number of clusters that match with the characteristics obtained. Then determine the right strategy for Telkomsel to increase the purchase of data packages for KartuHalo customers The theory approach used in this research is Marketing Mix, Pricing Strategy, Market Segmentation, Customer Behavior, and Personalized Marketing. Data collection method is done by using kartuHalo customer population data along with pre-defined variables that have been determined based on expert opinions which are then tested for significant variables using the Random Forest algorithm. Then from the variables chosen based on ranking used for cluster formation with the K-Means method. Analysis and processing of data is done using SPSS modeler software Keywords: Clustering, K-Means, Personalized Marketing
THE INFLUENCE OF BRAND EQUITY TOWARD INDONESIAN PREPAID SIM CARD CUSTOMERS’ PURCHASE DECISION
As the most popular prepaid SIM card in Indonesia, Simpati still has the majority of sales in Indonesia although its price of prepaid cards are more expensive than competitors' products. However customers still prefer prepaid cards Simpati and use prepaid cards Simpati. This study investigated the effect of brand equity in the purchasing decision of prepaid cards Simpati in Bandung. The purpose of this study was to determine and analyze how much influence brand equity consisting of brand awareness, brand association, perceived quality, and brand loyalty on consumer purchasing decisions in subscribing to prepaid cards Simpati. The method used is quantitative type of research is a descriptive study and causal. Sampling was done by sampling method with sub nonprobability sampling technique that is incidental sampling. Respondents were examined in this study of 100 people who are users of prepaid cards Simpati in Bandung. The results showed that the brand equity has significantly influence the purchase decision of prepaid cards Simpati in Bandung, with simultaneous influence of 60% while the rest of 40% influenced by other factors not described in this study and based on the partial test results known that brand equity has significantly influence the purchase decision of prepaid cards Simpati in Bandung, Indonesia. Keywords : Brand Equity, Brand Awareness, Brand Association, Perceived Quality, Brand Loyalty, Purchasing Decision
THE INFLUENCE OF INDUSTRY ENVIRONMENT AND COMPANY ASSET ON STRATEGIC INNOVATION AND THE IMPLICATION ON BUSINESS VALUATION OF DIGITAL INDUSTRY IN INDONESIA
Today’s value of Digital company overcome challenges from the products of the new digital and Over the Top (OTT) players that has become more integrated into customer’s lifestyle. The new digital and OTT players potentially degrading the value of existing Digital companies. This will contribute to the unoptimized value of today’s Digital companies that allegedly caused largely by Strategic Innovation aspect where has been the major capital of most digital players. This condition is also associated with the problems in the leveraging Company's Assets and strategy to adapt and align with Industry Environments as well. This study aims to assess the influence of the Industry Environment and Company Assets on Strategic Innovation and its implications on the Business Valuation of Digital industry in Indonesia. This research is conducted by using Quantitative Research approach. The unit of analysis is the Digital product companies in Indonesia, with the unit of observation is the management of the companies. Data collected through 200 samples. Structural Equation Modelling (SEM) is used as analytical and technical tool in this study. This research found Business Valuation of Digital Company in Indonesia is largely affected by the development of Strategic Innovation. Company Asset gives a greater influence in developing Strategic Innovation compares to Industry Environment. Company is now need a comprehensive strategy to leverage Company Asset to shape Strategic Innovation to maintain and grew the business value. Keywords : Industry Environment; Company Asset; Strategic Innovation; Business Valuation.
EFFECT OF CUSTOMER SATISFACTION, SWITCHING COST, VARIETY SEEKING, CUSTOMER VALUE ON TELKOMSEL CUSTOMER LOYALTY IN CIREBON DISTRICT
Telkomsel, which is one of the major telecommunications companies, has succeeded in controlling the cellular telecommunications industry in Indonesia. To increase customer loyalty, Telkomsel must provide good value to customers. Low loyalty is caused by several factors that are felt by customers from companies where they buy products/services. Telkomsel experienced a significant increase in customer transfers. The Length of Stay (LOS) category under 3 months describes a customer whose majority will churn. The purpose of this study was to determine the effect of customer satisfaction, switching cost, customer value, and variety seeking on the loyalty of Telkomsel customers. The object used in this study is the customer of Telkomsel area Cirebon, the number of samples is 384 users. Data analysis in this study using Structural Equation Modeling (SEM) using the help of LISREL software. The results of the study state that customer satisfaction, switching costs, customer value have a direct influence on the loyalty of Telkomsel customers. Keywords: Customer Satisfaction, Switching Cost, Customer Value, Variety Seeking, Customer Loyalty, Telkomsel
THE IMPACT OF ACQUISITION ON FINANCIAL PERFORMANCES OF NON-FINANCIAL ACQUIRER COMPANIES
This research is scrutinized the impact of acquisitions on the financial performance of the selected non-financial acquirer companies in Indonesia. The population of this study is 23 non-financial companies that were involved in acquisition during 2013-2015 based on Commission for the Supervision of Business Competition (KPPU) data. The paired Sample t-test shows that there was significant difference in DER, between pre and post acquisition. But there were no significant differences in CR, TATO, NPM and EPS between pre and post the acquisition. Key words: Acquisitions; acquirer companies; financial performance; financial ratios.
COMPARISON OF CAPITAL ASSET PRICING MODEL (CAPM) AND MULTIFACTORS MODEL IN PREDICTING STOCK RETURNS
Risk and returns are the two most important items to be considered by an investor in making the investment decision. Because of this importance, there are models tthat can be used in predicting stock returns. This study use Capital Asset Pricing Model (CAPM) and Multifactor model in predicting the returns of companies in the manufacturing sectors of the Indonesia Stock Exchange which are Astra International (ASII), Indofood Sukses Makmur (INDF), Kalbe Farma (KLBF), Holcim Indonesia (SMCB), and Semen Gresik (SMGR). Results shows that apart from the KLBF that cannot be predicted using the multifactor models because of the problem in using the multifactor model, the multifactor model outperform the CAPM in predicting the return of the other stocks Keywords: risk; return; Manufacturing sector; Capital Asset Pricing Model; Multifactor model
DOES CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE AFFECT STOCK RETURN? (AN EMPIRICAL STUDY IN INDONESIA CRUDE PETROLEUM AND NATURAL GAS INDUSTRY)
The Government of Republik Indonesia has enforced an obligation for oil and gas mining companies to carry out Corporate Social Responsibility (CSR) activities and disclose them in annual reports. In addition to complying with the obligation, disclosing CSR can also show a good image to the public that the company does not only pursue profit but also conducting sustainable development. CSR disclosure is expected to be one of the considerations of investors and potential investors in making a decision to choose the place of investment. Commonly, the more interested investors, the higher the stock price, thus the higher the stock return. It usually occurs when the disclosure information is released to the public. This study aims to determine whether CSR disclosure can affect stock return. The research was conducted in the oil and gas mining sub-sector of the Indonesia Stock Exchange (IDX) within 2013-2015. Applying panel data regression, the results of this study indicate that CSR disclosure has a significant positive effect on stock return with leverage and firm size as the control variables. Keywords: CSR disclosure, stock return, leverage, company size
ENTREPRENEURSHIP EDUCATION, ENTREPRENEURIAL EXPERIENCES, AND CREATIVITY AFFECT ENTREPRENEURIAL INTENTION IN BUSINESS PROGRAM STUDENTS IN TELKOM UNIVERSITY
Entrepreneurs have been contributing a lot not only to the economics of a country but also creating many changes in people’s life. Recently, entrepreneurship has become a topic that likely being discussed by academics, scholars, businessmen, and government in Indonesia. There have been so many studies about entrepreneurship in terms of personal characteristics, personal motivations, planned behaviours, etc. However, the factors which decide one’s decision to start a venture still not completely found out. Therefore, the purpose of this study is to examine whether entrepreneurship education, entrepreneurial experiences, and creativity affect to entrepreneurial intention by using the descriptive qualitative method, multiple regression, ANOVA, and partial test. The results from 266 Business Administration students batch 2015 and 2016 in Telkom University found that entrepreneurship education is relevant in the desire of students to be entrepreneurs, while experience does not appear to be an important determinant. On the other hand, creativity highly influences students in pursuing entrepreneurial activities. Creativity is highly involved in entrepreneurial intention and students who have engaged in Entrepreneurship course had higher Intentions to start a new venture. Therefore, Business Administration Program needs to improve its entrepreneurship and Creativity & Innovation courses. Keywords: Entrepreneurship Education, Entrepreneurial Experiences, Creativity, Entrepreneurial Intenion
THE LOCATION DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN INDONESIA: DOES REGIONAL CHARACTERISTICS AND INDUSTRY AGGLOMERATION MATTER?
The important role of FDI in the economy has been widely discussed and it is not surprising that most countries including the ASEAN region such as Indonesia compete in attracting FDI. This has resulted in unequal distribution of FDI location across the country and in the provinces within countries. This study investigates the location determinants of FDI flow within Indonesia provinces using the regional data set from 2003 to 2014, in order to address two objectives (1) To investigate the FDI location pattern among the different provinces and across sectors in Indonesia, and (2) To examine the determinants of FDI location choice across the economic sector. The results show that FDI from Japan to Indonesia by sector has flowed to manufacturing (63.5%), services (34%), and primary sector (2.5%) and mainly invested in the Java island such as West Java, Jakarta, East Java, and Banten. The estimation results generally support the existing literature that agglomeration was among the most important determinants of the regional distribution of FDI in Indonesia. The province market size, wages, and infrastructure were also important considerations for Japanese FDI. However, evidence regarding of quality of labor was less consistent as a determinant of FDI flows. Keywords: FDI; Location choice; Industry Agglomeration; Regional Characteristics, Indonesian provinces
SERVICE EXCELLENCE AND SERVICE RECOVERY: THE IMPACTS ON CUSTOMER SATISFACTION AND LOYALTY
Based on data from the Ministry of Trade of the Republic of Indonesia, service has the highest contribution, which reached 52% from 2010 – 2016. Transportation service is one of service industry having strategic roles in human life. The growth of transportation sector shows the direct economy growth thus this sector has a strategic role for national economy. The method implemented in this study is quantitative method with Structural Equation Modelling (SEM). The technique of data collection for primer data was interview and questionnaire. For sampling technique, this study implemented purposive sampling with 400 respondents. The result showed that Service Excellence (X1) and Service Recovery (X2) influenced simultaneously to Satisfaction (y), which gained 0.506 = 50.6%. Meanwhile, Service Excellence (X1), Service Recovery (X2) and Customer Satisfaction (Y) influenced simultaneously to Customer Loyalty (z), which gained 0.831 = 83.1%. The rest of 16.90% was influenced by other undefined factors. Keywords: Service Excellence; Service Recovery; Customer Satisfaction; Customer Loyalty
STATE-OWNED ENTERPRISES AS THE DRIVING FORCE OF INDONESIAN ECONOMIC GROWTH: COMPARASION INDONESIAN AND JAPAN
Infrastructure development that is being promoted to encourage increased investment can be a measure of a country's economy. Measuring the good and bad economy of a country can be seen from handling the country's financial performance. State-owned enterprises (SOEs) are companies managed by the government that can be used as a benchmark for a country's financial performance. The performance of state-owned companies can attract investors if they are gradually positive. The aim of the study was to find out the financial performance of state-owned enterprises and to compare between state-owned infrastructure companies in Indonesia and Japan. Secondary data used in this study is the company's financial statements for 2014-2017. The object of research is the state-owned enterprise infrastructure sector in Indonesia and Japan. In analyzing financial performance, this study uses financial ratios and Wilcoxon Sign Rank Test. The results of this study can show the company's financial performance that has increased or decreased. To improve the performance of each company can compare with a better company. Keywords: State-owned Enterprise; Financial Performance; Comparison Country; Indonesia; Japan
MODERN TAX ADMINISTRATION SYSTEM IN TAXPAYER COMPLIANCE
This study aims to determine the effect of the implementation of a modern tax administration system on taxpayer compliance in the KPP Pratama Garut. The research method used is descriptive analysis method. With data collection techniques namely library research, field research through interviews and questionnaires distributed to WP OP are effective at the KPP Pratama Garut. The data analysis technique used is simple linear regression and the sample method used is simple random sampling. This study uses SPSS 23 and Microsoft Excel 2010 software. The results of this study indicate that the implementation of the modern tax administration system has a positive and significant effect on taxpayer compliance in the KPP Pratama Garut. The amount of influence given by the implementation of the modern tax administration system variable to taxpayer compliance is 6.4% while the remaining 93.6% is influenced by other factors not examined in the study. Keywords: Modern tax administration system, Taxpayer compliance.
HOW FAR WILL MARKET RISK AFFECT THE CREDIT RISK-MOVEMENT OF INDONESIAN BONDS?
Credit risk can be calculated using the credit spreads in the measurement of additional yield rates to be taken into account. According to Rizal, et al. (2008), credit spreads rate it is a premium that compensates the risks faced by bond holders. During global crisis in 2008, risk of financial failure rapidly spread thoughout the world, including Indonesia, as seen from the turmoils in capital market and money market. This case demands investors to be more thorough in assessing the credit risk of debt instruments. Besides credit risk, bonds are also strongly correlated to market risk through the macro economy of a nation (Bielecki & Kurtowski, 2002). This study explored the influence of macroeconomic variables including interest rates, Rupiah exchange rate, and the return of the Composite Stock Price Index (IHSG) towards the bond credit spreads rate in Indonesia. The result of this study shows that the return of the IHSG did not have any significant influence on the credit spreads rate. However, the interest rates and Rupiah exchange rates had significant and positive influence on the creadit spreads rate of both long-term and short-term bonds in Indonesia. The positive direction showed that when increases occurred in those two variables, the credit spreads rate of bonds would increase as well. Increases in the credit spreads rate of bonds indicated higher risk that investors would experience as stock issuers had more burden in fulfilling their obigations to the investors. Keywords: credit risk; credit spreads rate; market risk; interest rate; Rupiah exchange rate; return of the Composite Stock Price Index; Indonesian bond
CAN SWALLOW'S NEST CONTRIBUTE GREATLY TO LOCAL OWN REVENUE? EVIDENCE ON ONE OF THE LOCAL GOVERNMENTS IN INDONESIA
Swallow nests are one of the efforts carried out by some people in Indonesia. For this effort, entrepreneurs are taxed by the local government. The swallow's nest tax is one of the sources of local tax and local own revenue. The purpose of this study was to analyze the amount of the contribution of swallow's nest tax to local revenue. The results show that the tax of swallow's nest contributes very low to the local own revenue. Keywords: regional tax; swallow nest tax; local own revenue.
TOURISM POTENTIAL, PRODUCTIVITY OF SMALL AND MEDIUM ENTREPRISES (SMES) : IMPACT ON THE IMPLEMENTATION OF LABOR IN SOUTH GARUT, WEST JAVA, INDONESIA
Based on physiography, Garut regency could be clarified into 4 (four) strata, consist of the North Garut, Central Garut, Southwest Garut, and South Garut regions. The South Garut area is now a good road, and can be used. even the road can go back and forth by car for 4 hours from the city of Garut. Especially beach attractions that are charming and interesting to visit. This potential is the capital of the developing aspects of tourism and SME (small and medium enterprises) and also act as in employment. This study was conducted to examine the role of tourism and SME on employment in South Garut, West Java, Indonesia. The sample used 67 of the population of 210 SME. The dependent variable of this study is labor absorption while the independent variable is tourism and SME productivity. This study uses multiple linear regression analysis. The results showed that SME productivity and had a very significant influence on changes in labor in the SME variable. This study uses SPSS 23 and Microsoft Excel 2010 software. Keyword : Tourism, SMEs Productivity, labor absorption, South Garut
Cultural Dimension Analysis as an Antecedent to Internet Banking Adoption in Indonesia
There are several reasons that underlie the interest of banks to implement information systems Internet Banking. One of them is the bank realized that the growth of Internet users in Indonesia took place very rapidly [1]. The aim of this study was to determine the effect inter construct that directly and indirectly affect the behavior of users in the use of internet banking by adopting a model UTAUT [2]. Sampling technique used is nonprobability sampling with the type of convenience sampling, in which a sample is taken by collecting information from members of the population who would gladly give it. Who are the customers of the bank Mandiri, BCA, BRI and BNI in Bandung Raya and Medan are using Internet banking may be respondents in this study by distributing questionnaires to be filled in the customers using internet banking. A total of 305 questionnaires processed from the two cities, Bandung and Medan. This study uses the method of analysis PLS (Partial Least Square) [3] with 2.0 SmartPLS program to test the causality in the model that has been proposed. The study found that Masculinity is a strong determinant affecting Utility Expectancy. Uncertainty avoidance is a strong determinant for influence trust and privacy. User satisfaction was found a strong influence on effort expectancy and utility expectancy. Utility expectancy as well as the most influential on Behavioural Intention. Keywords: culture, internet banking, UTAUT, Bandung and Medan, PLS
DEVELOPMENT HISTORY OF PUBLIC SECTOR FINANCIAL MANAGEMENT
It cannot be denied that the public sector carries a large influence in a country. The development of the public sector has an impact on changes in the life of society and state in various aspects, such as social, cultural, political and economic. For this reason, the management of public sector organizations continues to improve, especially in the financial sector. Public sector organizations are entities that manage public funds. As time goes by, the public became increasingly concerned about public sector financial management. The requirement of the public to realize public sector financial management to be more transparent and accountable continue to be voiced. Therefore, on this occasion, the author aims to raise the historical theme of the development of public sector financial management through the study of literature. Keywords: Public Sector Organizations; Public Finance; Public Services; Public Sector Financial Management
MEASUREMENT OF PERSONAL PROJECT MANAGER COMPETENCE AS A MEDIA TO IMPROVE PROJECT SUCCESS
The project manager is one of the factors that has a very important role in running the project. Until now, one of the success of the project is not independent of the role of a project manager. In this study, the project manager's personal competence was measured by using a framework from the Project Manager Competency Development Framework. Measurements are made by means of assessments carried out in 360 degrees. The project manager is assessed by the project team, superiors, and teamwork partners. Measurements were made in one of the major telecommunications companies in Bandung with a project value of up to billions. The company experienced a project failure that experienced delays many times in the past year. After the assessment is carried out, a competency analysis is conducted on the project manager and a self-assessment gap analysis of the respondents, the results of the research show that the competence of the project manager in the company is already good. This proves that project success is not always determined by the competence of a project manager. Keyword: assessment; project; competence; PMCDF; 360 degrees
VALUATION ANALYSIS FOR FAIR VALUE OF SHARES OF PT. GARUDA INDONESIA TBK. USING THE FREE CASH FLOW TO FIRM (FCFF) METHOD AND RELATIVE VALUATION METHOD
Economic Impact Research proves the travel and tourism industry is a booming business. The report also found that 2017 was a big year for the global travel and tourism sector as a whole, which grew 4.6 percent or 50 percent faster than the global economy as a whole, which experienced a growth rate of 3 percent in 2017. The growth of the industry affects the growth of users of air transportation services. It was seen by the increase in the number of air passengers in Indonesia average of the last 5 years at 8.47 percent. PT. Garuda Indonesia Tbk (GIAA) as one of the major airlines in Indonesia should enjoy the growth of flight service users. But the fact has not been matched by GIAA's stock performance in recent years. This research aims to valuate the fair value per share of GIAA as a comparison with prices in the market. This research is also intended to determine whether prices on the market are undervalued or overvalued. Information used in this research was in the form of secondary data of financial statement of GIAA, financial report of comparable companies, and stock prices of comparable companies. The analytical method used in determining the fair value of shares is Discounted Cash Flow (DCF) and Relative Valuation in three scenarios: optimist, moderate, and pessimist. DCF uses the Free Cash Flow to Firm (FCFF) approach. Relative Valuation Analysis begins by comparing similar companies in the same business field, choosing and determining multiple in accordance with the comparison company. Multiple used were: Price Earnings Ratio (PER), Price to Book Value (PBV), and Price to Sales Ratio (P/S). Keywords: Free Cash Flow to Firm, Relative Valuation, Price to Earning Ration, Price to Book Value, Garuda Indonesia
STOCK VALUATION IN INDONESIA BANKING INDUSTRY USING DIVIDEND DISCOUNTED MODEL AND FREE CASH FLOW TO FIRM METHODS
The objective of this research is to valuate intrinsic value from four banks in Indonesia, those are BCA, BNI, BRI and BTN. These four banks have the highest stock price increment compared to stock market price increment from LQ45, Kompas100, Finance Sector, and Infobank15 index, in five years period from 2013 until 2018. We use two methods to do valuation of those four banks, namely Discounted Dividend Model (DDM) with single scheme and Free Cash Flow to Firm (FCFF) with three schemes. Those there schemes that will be used in FCFF methods are optimistic, moderate and pessimistic schemes, which are differentiated by each revenue growth. These three growths will provide options for the investors to match valuation results with the company financial condition. We use these two valuation methods so that we can compare which method will generate intrinsic value that approaching the market value. This research will calculated twenty intrinsic value from each banks, and those intrinsic value will be compared with market value. The proximity of intrinsic value and market value will be calculated with the delta or spread value between intrinsic and market value. We recommend to do valuation with the same banks with different valuation methods for the next research. Keyword : Valuation, Devident Discount Model , Free Cashflow to Firm, Stock Value, Stock Market
WEBSITE DESIGN QUALITY COMPONENTS AS TRUST AND SATISFACTION FORMERS AND ITS IMPLICATIONS FOR CONSUMER INTENTION AND BEHAVIOR: STUDY ON ONLINE TRAVEL AGENTS IN INDONESIA
The quality of the website is important as a way to understand whether the company has provided information and interaction for website users' satisfaction. Therefore, creating an effective website is very necessary to be loyal and maintain loyal customers. This study tries to continue some of the previous research efforts through empirical testing of modification models in the Indonesian context. This research was conducted quantitatively through descriptive research design, data is collected through online surveys with samples from Generation Y in Jabodetabek area. Hypothesis is tested using structural equation modeling (SEM) approach. From the results of this study, it can be concluded that the variables that have a positive and significant influence are; information design toward satisfaction, navigation and visual design toward trust, navigation and visual design toward satisfaction, satisfaction towards revisit attention, e-loyalty, and purchase behavior. While variables that have a negative and insignificant effect are information design toward trusts, and variables that have a negative but significant influence are trust variables toward revisit intention, e-loyalty, and purchase behavior. Keywords: Website Design Quality, Online Travel Agent, Consumer Behavior, Consumer Intention
THE IMPACT OF DISCONFIRMATION AND INVOLVEMENT TOWARD HOPE AND REGRET, AND THEIR IMPLICATIONS ON CONTINUED USE OF APPLICATIONS: A STUDY ON GO-JEK PLATFORM
In this globalization era, the proliferation of features of application in our smartphones can be a double-edged sword, because on one hand, the application can have a positive impact on helping consumers everyday, but on the other hand, the application can also cause negative impact like regret. Research on regret has a view on the side of consumers and companies, and the implication for companies still have to be looked at more deeply. In addition, this study also seeks to expand the results of previous studies related to disconfirmation, involvement, hope, anticipated inaction regret, satisfaction, and continued IS use as driving factors of consumer behavior on the performance and benefits of smartphone applications that are being received. This research was conducted quantitatively through descriptive research design, data is collected through online surveys with samples from Generation Y in Jabodetabek area. Hypothesis is tested using structural equation modeling (SEM) approach. In Go-Jek Application, involvement is the driving factor of the positive attitude of consumers toward hope and anticipated inaction regret, and disconfirmation is the driving factor of the positive attitude of consumers toward only hope. Keywords: consumer behavior; disconfirmation; anticipated regret; continued IS use; mobile application
MODEL OF ENTREPRENEURSHIP DEVELOPMENT IN SUSTAINABLE TOURISM
Purpose - The sustainability of entrepreneurship in the tourism sector is very dependent on the process of synergy between tourism actors who have an orientation towards tourism sustainability. For this continuity, surely, a rail is needed in the form of a strategy that allows for the right direction. Thus, the aim of this paper is to develop a conceptual model for studying sustainable entrepreneurship in the tourism sector through the development of value creation strategies. Methodology. In the process of developing the model, the authors take an existing model which is then developed through analysis of literature that is considered to support the research objectives Findings - The proposed model provides a systematic and systematic view of entrepreneurial sustainability in the tourism sector and contains various levels of analysis through value creation strategies to maintain sustainability in tourism. Originality/value - The suggested model is a step towards sustainable entrepreneurial measurement in tourism through a value creation strategy, so as to make a valuable contribution to future research design. This paper provides an important foundation for innovative, responsible and sustainable policymaking in the tourism sector Katakunci : Sustainable Entrepreneurship; Value Creation Strategy, Tourism.
CONQUERING ACCULTURATIVE STRESS IN FIRST-YEAR UNDERGRADUATE STUDENTS: CONCEPTUAL REVIEW
During the first-year stage, students often encounter stressful process stemming from the difficulty of adaptation. The transition into a university environment has reflected numerous cultural incompatibilities has reflected high stressful conditions and unsuccessful adaptation. This life-events could express acculturative stress which interferes adaptation of the first-year student in an academic environment. This study reviews the attempt of conquering acculturative stress condition toward strengthening adaptability of first-year students. By integrating the extant literature in three major topics (ex: acculturative stress, coping strategy, and student adaptation), this study evaluates a conceptual model that shows how acculturative stress can response and manage changes within first-year stage capacity to adapt in academic and surrounded cultures. Based on the literature review process, coping strategy play as mediating factors between acculturative stress and adaptation. There are at least six moderating variables (emotional intelligent, spiritual intelligent, motivation, demographic, social support and personality) may differentiate the first-year student in managing acculturative stress toward adaptation The resulting variable is the most comprehensive of its kind to date. The research propositions pave the way for empirical testing. Keywords: acculturative stress, coping strategy, adaptation, first-year students, change management
ANALYSIS AND PROPOSED SERVICE QUALITY IMPROVEMENT OF DIETPLUS BANDUNG
The trend of healthy lifestyle in Indonesia is increasing significantly. The fact certainly opens opportunities for Dietplus to offer facilities, services, and foods to support the healthy lifestyle for the community, especially in Bandung. The objectives of this research are to investigate the quality of services and find out the priority aspects for the improvement process of Dietplus. Another objectives of this research is to identify service quality preference based on customers demography (i.e gender, age, occupation). To achieve these objectives, this research uses the SERVQUAL method compiled by Parasuraman et al. From the findings on this research, almost all gap of dimension and attribute have a positive score. This condition shows if Dietplus still failed to meet its customer expectation, except T1, one of the attributes on the tangible dimension. This research also provide several priority recommendations for Dietplus to improve their service quality in according to the customer’s gap and customer’s expectation. The priority dimension for improvement are reliability, responsiveness, and empathy which consists of R4, R5, R6, RS7, RS8, RS9, E12 dan E13 Keywords : Healthy catering , service quality, improvement, SERVQUAL
DIGITAL MARKETING MODEL OF FB ADS AND INSTAGRAM IN INCREASING SMES SALES VOLUME
The purpose of this research is to find out how the digital marketing model using FB_Ads and Instagram can increase the sales volume for micro businesses in Pamalayan village, sub-district. Cijeungjing Ciamis. This study uses Naturalistic Research Methods with a Qualitative data approach. The results of this study are the formation of a digital marketing model that is most suitable for SMEs which uses very low costs but can reach a market as wide as possible. The conclusion of this study is that the Digital Marketing Model of FB_Ads and Instagram in Increasing Sales Volume For MSMEs must be done in an all-digital era, the FB_Ads Marketing Model is easy to do by users even though they don't know much about information technology, FB_Ads for SMEs is most suitable using page post engagement type (likes, share, comment) and Store visits. FB_Ads can target markets (by region, gender, age, interest). While Instagram is the second most widely used social media because it is simple and easy to use, its success lies in the ability of users to use followers and targets that are targeted. Keywords: Digital Marketing Model, FB_Ads, Instagram, Sales Volume, SMEs.
IDENTIFYING FINANCIAL DISTRESS FIRMS : A CASE STUDY ON PROPERTY AND REAL ESTATE COMPANIES LISTED IN INDONESIAN STOCK EXCHANGE
The objective of this study is to investigate the simultaneous and partial effects between ratio of liquidity, leverage, profitability and sales growth to financial distress in property companies listed in Indonesian Stock Exchange in 2013-2017. Sampling technique used in this study is purposive sampling technique. Sample in this study is as many as 38 samples within 5 years; therefore, a total of 190 company samples were obtained. Technique of analysis used in this study is logistic regression analysis using application of SPSS 24.0. Based on the research result, the ratio of liquidity, leverage, profitability and sales growth variables affect financial distress by 61.3%, and the rest of 38.7% is affected by other factors outside the research variables. Partially, liquidity variable has a positive effect to financial distress and profitability variable has a positive effect to financial distress. On the other hand, leverage variable proxied with sales growth has no effect to financial distress. Keywords: Liquidity; Leverage; Profitability; Sales Growth, and Financial Distress