Tulus Haryono

Leverage, Firm Value and Competitive Strategy: Evidence from Indonesia

We study the agency theory by re-examining the effect of financial leverage on firm value. Moreover, we introduce a contingency variable: firm competitive strategy. To do so, we study non-financial firms listed on the Indonesia Stock Exchange from 2007 through 2013, resulting in 2,438 observations. Using the panel data technique, after controlling for firm-specific characteristics and industry differences, we find that leverage has a positive effect on firm value. Going deeper, we find that this effect is stronger for firms that apply a cost leadership strategy, differentiation strategy, or focused strategy.

The impact of career development on employee performance: an empirical study of the public sector in Indonesia

Abstract This article examines the influence of career development on employee performance in public sector, mediated by perceived organizational support, work motivation, and affective commitment. By analyzing the perceptions of 250 civil servants in 15 regional branches of Ministry of Finance of Indonesia, and using structural equation analysis with SmartPLS 2.0 program, the findings reveal that career development has positive direct influence on perceived organizational support, motivation, and affective commitment. However, career development has no direct influence on performance. The indirect examination shows that mediating variables are perceived to have significant influence in strengthening that relationship. These findings theoretically imply that career development may be dependent on the extent to which organization is capable of providing perceived organizational support and motivation in promoting affective commitment and performance. Practically, these findings reveal the importance of both Indonesian’s central and local government to implement performance-based rewards.

Is Studentsâ Religiosity Moderating Word of Mouth in Islamic Private Higher Education?

Marketing communications by Word of Mouth or WOM universally important role in business success and is one of the marketing communication strategy, a strong impact on the performance of marketing, as well as playing an important role in influencing the purchasing decision back. WOM can be an alternative marketing communications for a private university based Islamic religion that have had difficulty in promoting the institution. The research aims to analyze the influence of service quality on WOM marketing communications. Another research aim is to analyze the role of satisfaction as a mediator, and the role of religiosity as moderator effect of service quality on WOM marketing communications. Respondents are students of University of Muhammadiyah Malang and University of Islam Malang who had conducted WOM. Data collected by questionnaire and analyzed using SEM PLS. The analysis showed that the service quality has no direct effect on WOM marketing communications. Service quality has direct effect on satisfaction, and satisfaction has direct effect on WOM. Another result is religiosity did not moderate the influence of satisfaction on WOM.

Behavioural model of buying intention of counterfeited products

This research was to test the influence of price and quality perception on attitude toward the counterfeited products, subjective norm as the moderator of price and quality perception influence on the attitude toward them, the attitude influence toward the counterfeited products on the buying intention for them and to test subjective norm as the moderator of attitude influence toward the counterfeited products on the buying intention for them. This research was started from field empirical observation. Participants as experiment subject in this research were the university students. The data analysis plan was done experimentally and hierarchical regression analysis was used to test the determining effect directly or indirectly on subjective norm variable. Research results showed that subjective norm had a role in influencing the buying process of the counterfeited products. That role was shown by the existence of subjective norm ability in strengthening the relationship between price fittingness and attitude.

PENGARUH KUALITAS PELAYANAN B2B PERBANKAN SYARI’AH DAN CULTURAL FIT PADA KEPUASAN, LOYALITAS, DAN REKOMENDASI POSITIF

Artikel ini bertujuan untuk mengatasi kesenjangan tentang teori dasar tentang kualitas layanan dalam hubungan pemasaran. Artikel ini hendak menguji pengaruh strategi peningkatan kualitas pelayanan B@B perbankan syariah dan culture fit terhadap kepuasan konsumen, loyalitas dan rekomendasi positif. Kajian ini juga berusaha mendemonstrasikan keterkaitan antara variabel-variabel. Sampel yang diambil secara praktis terdiri atas 200 responden: pemilik usaha, pemimpin organisasi/perusahaan dan manajer keuangan yang memanfaatkan transaksi elektronik dari BSM Kudus dan Pati, baik sebagai kreditur, debitur maupun pengguna layanan BSM lainnya. Hasil analisis koefisien path menunjukkan bahwa dimensi empati, tangible, keandalan, kepatuhan, dan culture fit berpengaruh secara langsung maupun tidak lengsung terhadap kesetiaan nasabah. Kata Kunci: Hubungan Pemasaran, Kualitas Layanan, Culture Fit THE INFLUENCE OF SERVICE QUALITY OF B2B SHARIA BANKING AND CULTURE FIT TOWARD CUSTOMER SATISFACTION, LOYALTY AND POSITIVE RECOMMENDATIONS Abstract This goal of this article is to overcome the research gap by developing the basic theory of the service quality in relationship marketing. This article examines effect of strategy of improving service qaulity of B2B sharia banking and culture fit toward customer satisfaction, loyalty and positive recommendation. The study also seeks to demonstrate the interdependence between variables. Convenience samples are 200 respondents: business owners, heads of organizations/companies and financial managers who make use of electronic transactions of BSM Kudus and Pati, whether as a creditor, debitor or other services of BSM. Result of path coefficient analysis shows that the dimensions of empathy, tangibles, reliability, compliance and cultural fit directly or indirectly have effect on loyalty. Keywords: Marketing Relationship, Service Quality, Cultural Fit