Ilomata International Journal of Management <p>Ilomata International Journal of Management With ISSN: <a title="Portal ISSN" href="" target="_blank" rel="noopener"><span style="font-family: helvetica; font-size: small;"><span style="font-family: helvetica; font-size: medium;">2714-8963</span></span> (Online)</a> - <a title="Portal ISSN" href="" target="_blank" rel="noopener"><span style="font-family: helvetica; font-size: small;"><span style="font-family: helvetica; font-size: medium;">2714-8971</span></span> (Print)</a> is published by <a href="" target="_blank" rel="noopener">Yayasan Sinergi Kawula Muda</a>, published original scholarly papers in the field of management science, both private or public sector, business management, finance, education, communication, logistics, human resources, hospitality and tourism. Ilomata International Journal of Management is published four times a year (January, April, July, October), and in cooperation with the <a href="">Asosiasi Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia</a>. Ilomata International Journal of Management is indexed in Science Technology Index, Directory of Open Access Journal (DOAJ), Garba Referral Digital (GARUDA), Google Schoolar, Crossref, Dimensions, and has currently been cited 31 times from 19 articles in the Scopus database (Update August 28, 2023) <a href=";sort=cp-f&amp;st1=Ilomata+International+Journal+of+Tax+and+Accounting&amp;sid=08f161d84a0515763336b0837dc27995&amp;sot=b&amp;sdt=b&amp;sl=56&amp;s=ALL%28Ilomata+International+Journal+of+Management%29&amp;cl=t&amp;ss=plf-f&amp;ws=r-f&amp;ps=r-f&amp;cs=r-f&amp;origin=searchbasic&amp;zone=queryBar&amp;sessionSearchId=08f161d84a0515763336b0837dc27995&amp;limit=10">Citedness in Scopus</a>. Please visit this page <a href="" target="_blank" rel="noopener"></a> to submit an article to this journal. <a title="Journal History" href="">Journal History</a></p> en-US <p><a href="" rel="license"><img style="border-width: 0;" src="" alt="Creative Commons License"></a><br>This work is licensed under a <a href="" rel="license">Creative Commons Attribution 4.0 International License</a>.</p> [email protected] (Novianita Rulandari) [email protected] (Putri Ayu Lestari) Wed, 10 Jul 2024 02:08:58 +0000 OJS 60 Determinants of Corporate Value in Indonesia: Testing the Interaction Effect of Firm Age <p>This study aims to examine the effect of capital structure, profitability, institutional ownership, and company size on corporate value in Indonesia, by considering firm age as a moderation variable. This research focuses on primary consumer sector companies on the Indonesia Stock Exchange (IDX) and obtained 295 panel data observations. Moderated regression analysis is used to estimate the interaction model of firm age on the relationship between independent variables and corporate value. The results showed that capital structure and company size had a positive influence on company value, while profitability and institutional ownership did not have a significant influence. Furthermore, firm age moderates the capital structure, as well as changes the direction of influence of institutional ownership and firm size on firm value. However, firm age does not moderate the influence of profitability on firm value. The implication of this study is the importance of considering other firm value proxies, as well as the need for grouping and testing in different economic conditions to increase the external validity.</p> Stevani, Wendy Copyright (c) 2024 Stevani Tjhou, Wendy Wed, 10 Jul 2024 02:23:13 +0000 Transforming Organizational Culture in a State-Owned Construction Firm: Insights from the Competing Values Framework <p>This study investigated the type of organizational culture in a state-owned construction firm using the Competing Values Framework. Diagnosing the organizational culture is essential to identifying the gap between the current and preferred cultures, and guiding the development of transformation programs. Data was collected from 58 participants using validated and reliable instruments applicable across various industries and countries. Descriptive analysis categorized the organizational culture, revealing a gap between the current and preferred types. The current culture was evenly spread across clan, adhocracy, market, and hierarchy types, whereas the preferred culture leaned towards market culture. To bridge this gap, a transformation program emphasizing transformational leadership and human resources functioning as business partners is necessary. The study faced limitations, including a relatively low response rate, although managerial responses were robust. The use of an ipsative rating scale precluded causal statistical analysis, suggesting future research might benefit from a Likert-type scale for more sophisticated analyses, including individual comparisons. This research provides a practical case of organizational culture transformation, emphasizing the shift towards a market culture in response to industry developments and business competition. Leaders are encouraged to consider individual characteristics, offer personal attention, develop a visionary approach, and communicate purposes with humility. Human resource functions should align HR practices with the company‚Äôs strategy and leverage unique employee capabilities. The study highlights the need for an ambidextrous culture and suggests that effective cultural shifts can be achieved through vertical and horizontal alignment.</p> Gugup Kismono, Stephen Gunawan Copyright (c) 2024 Gugup Kismono, Stephen Gunawan Wed, 10 Jul 2024 02:26:37 +0000 Testing Interaction Effect of Firm Size on Net Trade Credit: Another Perpective from Indonesian Capital Market <p>This research takes a different perspective by only using trade credit from third-party transactions. This research uses primary consumer sector corporates listed on the Indonesia Stock Exchange with a purposive sampling method, obtaining a total of 235 data points. The results of this study indicate that capital structure and efficiency positively affect net trade credit. Conversely, firm age has a negative affect net trade credit When interacted with firm size, the firm age significantly has a positive effect on net trade credit. Meanwhile, efficiency consistently has a positive effect on net trade credit. The interaction effect of firm size on these factors tends to weaken. This study provides implications for the importance of using trade credit from third parties as creditworthiness, as well as further evidence regarding formal financing in the redistribution theory in Indonesian corporations.</p> Andre, Wendy Copyright (c) 2024 Andre, Wendy Wed, 10 Jul 2024 02:30:49 +0000 Increasing Tourist Satisfaction Through Service Quality: The Mediating Role of Memorable Tourism Experience <p>In the tourism sector, tourist satisfaction is the primary determinant for assessing the effectiveness of managing tourism destinations and the long-term viability of tourism enterprises. Tourist satisfaction becomes crucial to discern the influential factors that impact the tourist's satisfaction. This research seeks to elucidate the direct effect of service quality on tourist satisfaction and its indirect effect mediated through memorable travel experiences. This study employed a quantitative research design, utilizing cross-sectional surveys with questionnaire instruments. The validity and reliability of the questionnaire instrument were assessed through a sample of 30 respondents. A total of 204 tourists, selected using an accidental sampling technique, participated in research conducted in Jakarta Old Town. The collected data was subjected to Structural Equation Modeling (SEM PLS). The findings from the tests reveal that service quality exerts a direct and significantly positive impact on tourist satisfaction, and it also exerts an indirect influence mediated through the creation of memorable travel experiences. Hence, it is imperative for the management of Jakarta Old Town to consistently enhance the quality of services to cultivate memorable tourism experiences. These remarkable travel experiences foster an emotional bond that can instigate the development of contentment and other favorable behaviors.</p> Nova Eviana Copyright (c) 2024 Nova Eviana Wed, 10 Jul 2024 02:35:07 +0000 Exploring Accountability and Transparency in Government Agency Management: A Literature Review <p>Public bureaucratic practices are frequently criticized for being impolite, unfriendly, discriminatory, and for having service systems that are non-transparent, complicated, and do not guarantee certainty in terms of time and costs. These issues arise from a lack of transparency and accountability in public service implementation. Transparency involves the freedom to access information, while accountability ensures that activities are carried out responsibly and answerable to the public. This research explores the relationship between accountability and transparency in government agency management through a literature review. The study analyzes 30 journals from state and private universities, published between 2018 and 2023, to understand their impact on government performance. Data was collected from Google Scholar using the keywords "accountability and transparency." Strict criteria and limitations were applied to ensure the relevance and suitability of the data for this research. The findings emphasize the importance of accountability and transparency in improving the performance of government entities at various levels, including regional, city, and village governments, as well as organizations. These concepts are crucial for addressing issues related to performance, finance, and budget management. The study highlights the need for further research to explore these relationships in depth and to develop frameworks for better public service delivery. By integrating accountability and transparency into government operations, public trust can be restored, and the efficiency and effectiveness of public services can be significantly enhanced. This literature review serves as a reference for future studies and practical applications aimed at improving the management and performance of government agencies and organizations.</p> Syati Irawati, Atma Hayat, Asrid Juniar, Sri Astuti Handayani Copyright (c) 2024 Syati Irawati, Atma Hayat, Asrid Juniar, Sri Astuti Handayani Wed, 10 Jul 2024 02:40:33 +0000 The Influence of Financial Inclusion, Financial Planning, and Financial Attitudes on the Financial Management of Culinary MSME Owners Lubuk Pakam <p>Actively improving the economy and reducing unemployment in Indonesia is played by Micro, Small and Medium Enterprises. Financial management holds significance in business operations., including financial inclusion, financial planning, and financial attitudes to ensure optimal business financial management. This study aims to assess the impact of Financial Inclusion, Financial Planning, and Financial Attitudes on Financial Management. The goal of this research is to enhance understanding and become a basis for legislators and local governments to focus more on improving the financial management of MSME businesses. Using a quantitative approach, this research involved culinary MSME owners in Lubuk Pakam District as a population. Samples were taken using purposive sampling techniques and the Lemeshow formula to obtain 96 respondents. The data collected is original or first hand (primary) data. Various tests such as validity, reliability, multiple regression, normality, Kolmogorov-Smirnov, multicollinearity, heteroscedasticity, as well as F, t tests, and coefficient of determination were included in the data analysis. It is known that financial management of culinary MSME owners in Lubuk Pakam District is influenced positively and significantly by financial planning and financial attitudes, while financial inclusion does not show a significant influence. Overall, financial inclusion, financial planning and financial attitudes contributed 78.50% to financial management, meanwhile, the remaining 21.50% was attributed to factors or variables that were not included in this study. For future research, it is suggested to include additional independent variables and increase the sample size to achieve a more comprehensive insight into how other variables affect financial behavior.</p> Ayu Andini, Andri Soemitra, Budi Dharma Copyright (c) 2024 Ayu Andini Liswandi, Andri Soemitra, Budi Dharma Wed, 10 Jul 2024 02:45:33 +0000 Enhancing SME Business Savings through HR Practices and Financial Literacy <p>This study explores how human resource (HR) practices influence business savings in small and medium enterprises (SMEs) through the mediation of financial literacy and savings motives. The primary objective is to determine the extent to which HR practices enhance business savings by improving employees' financial literacy and motivating savings behavior. Addressing the gap in integrating HR strategies with financial education, this research employs a quantitative approach using structural equation modeling (SEM) via Smart PLS 3. Data were collected from 241 SME employees through structured questionnaires. The results indicate that HR practices significantly boost business savings, primarily by enhancing financial literacy among employees. Although HR practices positively impact savings motives, these motives alone do not significantly mediate the relationship with business savings. The study concludes that incorporating financial literacy into HR practices is essential for fostering better financial decision-making and achieving substantial business savings. Consequently, SMEs should prioritize financial education within their HR strategies to improve their financial outcomes.</p> Efriyani Sumastuti Sumastuti Copyright (c) 2024 Efriyani Sumastuti Sumastuti Wed, 10 Jul 2024 02:48:06 +0000 Effect of Self-Service Technology on Customer Satisfaction in Islamic Banks in Indonesia : FEBI UINSU Students <p>With the advancement of technology, particularly in the banking sector, innovations like ATMs and Mobile Banking have significantly evolved. However, there are accompanying challenges such as security vulnerabilities and network disruptions, which can lead to customer apprehension and dissatisfaction. This research aims to explore the impact of Digital Banking with Self-Service Technology (ATM and Mobile Banking) on Customer Satisfaction in Sharia Banks. The study employs a quantitative research approach with primary data collected through questionnaires from a sample of 50 respondents. Data analysis utilizes SPSS version 23. The findings indicate that both M-Banking and ATM services significantly influence customer satisfaction. Statistical tests, including partial and simultaneous tests, reveal significance levels &lt; 0.05, underscoring the impact of M-Banking and ATM services on enhancing customer satisfaction. Implications from this research underscores the critical role of M-Banking and ATM services in shaping customer satisfaction within Sharia Banks. By addressing security concerns and optimizing network reliability, banks can enhance customer trust and loyalty. Insights from this study can guide banks in refining their digital strategies, improving service quality, and ultimately fostering stronger customer relationships in the digital banking era.</p> Agung Nugraha, Rahmat Daim Harahap, Wahyu Syarvina Copyright (c) 2024 Agung Nugraha, Rahmat Daim Harahap, Wahyu Syarfina Wed, 10 Jul 2024 02:51:02 +0000 BUMDes Management Strategy in Improving Community Economic Welfare <p>This research aims to find BUMDes management strategies to improve the economy of village communities. The method used is a qualitative method by conducting field interviews, then the results are analyzed using the SWOT method. The results show that in the SWOT analysis BUMDes has not carried out its management optimally, and has not been able to improve the economic welfare of the village community, thus the impact of the establishment of BUMDes has not been felt by the community in Suka Damai Timur Village. The results of the SWOT matrix analysis, namely strategies (S-O), (W-O), (S-T), (W-T), found that BUMDes must implement several strategies to improve the economy of village communities, namely by conducting strategic business partnerships, Diversifying Products and Services, Carrying out Integrated Livestock Development, Opening Livestock and Technology Training Centers, Improving Marketing and Distribution Networks, Utilizing technology as a means of promotion, Improving facilities and infrastructure, Increasing Funding and Facilities, Technology Training on Social Media, Proposing Pilot Projects to Government and Investors, Minimizing Competition, Utilizing Strategic Locations to Attract More Customers, Developing Sustainability and Risk Management Programs, Improving Services and Community Involvement, Training&nbsp;&nbsp;&nbsp; and Increasing Capacity, Diversifying Revenue Sources, Increasing Transparency and Accountability. By implementing these strategies, it is hoped that BUMDes will be able to drive the economy of Sukadamai Timur village, so that BUMDes can contribute to improving the economy of the people in the village. So that BUMDes can achieve its goals that have been regulated by the government in accordance with the function of creating the BUMDes.</p> Muhammad Luis, Muhammad Yafiz, Nurul Jannah Copyright (c) 2024 Muhammad Luis, Muhammad Yafiz, Nurul Jannah Wed, 10 Jul 2024 00:00:00 +0000 Exploring Entrepreneurial Risk-Taking Among University Students: A Thematic Analysis <p>This study explores why university students embark on entrepreneurial risk-taking activity and to gain insight into how they perceive and cope with the risks when they start business ventures. A qualitative case study is conducted with ten university students by examining business undertakings they want to do after graduation. Thematic analysis method is employed to recognize patterns in the data and identify important themes. The findings show that the students have various motivations and resources to initiate entrepreneurial endeavors. The motivations identified here include personal, social, economic and capability reasons; while the resources entail soft and hard skills, marketing skill and also skills from training activities. The students are also capable of identifying several entrepreneurial risks and devising plans to mitigate them. The identified risks relate to personality risk, market and capability risks, decision risk, and also risks from external factors. Whereas the mitigations comprise of improving various aspects of marketing, business decision, product design, and the capabilities in general. The findings of this study have implications for business education to inform the design and scope of entrepreneurial teaching and programs in preparing the students for planning and devising appropriate business strategy, and also for nurturing genuine motivation and equipping them with the precise set of the required skills. Future study should pursue two streams of researches namely, quantitative research for examining more concrete variables relate to entrepreneurial motivation, risk and skill, and also longitudinal research for confirming how the perceived risks previously identified manifesting in real business life.</p> Pranoto Effendi Copyright (c) 2024 Pranoto Effendi Wed, 10 Jul 2024 02:58:07 +0000 Analysis of the Cycle Selling Skill System in Increasing Sales of Health Insurance Products <p>In this context, the sale of health insurance products is an important factor for insurance companies to meet the needs of a growing market. Insurance companies need to develop effective sales skills. This research aims to provide a better understanding of the sales skills required in the health insurance industry, as well as to identify effective strategies and solutions in increasing sales of health insurance products. The research method used in this study is a qualitative approach. By relying on data collected from observations, interviews and documentation, the results of this study explain that the implementation of the cycle selling skill system at PT Chubb Life Insurance Indonesia Medan has provided positive results in increasing sales of health insurance products. However, this success requires continuous efforts in agent training, use of technology, and product innovation to face existing challenges and maximize sales opportunities, insurance agents can increase health insurance sales more effectively. The stages in this analysis help insurance agents understand the needs of potential customers, provide appropriate solutions, and handle objections that may arise.</p> Khairani Putri, Annio Indah Lestari, Nurul Jannah Copyright (c) 2024 Khairani Putri, Annio Indah Lestari, Nurul Jannah Wed, 10 Jul 2024 03:01:50 +0000