Service Innovation Strategic Consensus: A Lesson from the Islamic Banking Industry in Indonesia

Muafi MUAFI,Erlina DIAMASTUTI,Argo PAMBUDI 한국유통과학회 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.11

This study aims to analyze the agreement of service innovation using contingency approach (manager personality, organizational structure) moderated by leadership agility. The study has been carried out on Islamic banking companies’ managers in Indonesia, from East Java and Yogyakarta region using purposive sampling technique with questionnaire and interviews as the method of data collection. The total number of respondents in the sample is 184. This sample is then analyzed using Euclidience Distance Simple Regression and Simple Regression Moderation method. The results prove that: (1) there is a partial fit between incremental strategy with reactive personality and mechanical organizational structure, which increases the service performance; (2) there is a partial fit between radical strategy with proactive personality and organic organizational structure, which increases the service performance; (3) leadership agility is able to strengthen the fit of the relationship between incremental innovation strategy and reactive personality toward service performance; (4) leadership agility is able to strengthen the fit the relationship between radical innovation strategy and proactive personality toward service performance; (5) leadership agility is able to strengthen the fit of the relationship between incremental innovation strategy and mechanical organizational structure toward service performance; and (6) leadership agility is able to strengthen the fit of the relationship between radical innovation strategy and organic organizational structure toward service performance

A Nexus among Strategic Orientation, Social Network, Knowledge Sharing, Organizational Innovation, and MSMEs Performance

MUAFI, Muafi Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.6

This study wants to test the nexus among resource orientation, market orientation, social network, and knowledge sharing toward organizational innovation, and the nexus between organizational innovation and MSMEs performance. Questionnaires and interviews are conducted with some MSMEs actors in Central Java Province, Indonesia, in Klaten Regency and Pekalongan City. These two areas have creative MSMEs, especially Batik MSMEs that have been very large and known worldwide. The sampling technique is done purposively with certain criteria for the respondents. The data analysis technique is done using Partial Least Square. This study provides recommendations about strategic practice and policy (resource and market), social network, and knowledge sharing in increasing organizational innovation, and the impact of organizational innovation toward MSMEs performance. It also offers a comprehensive model of the determinant factor of organizational innovation by considering the aspect of strategic orientation, social network, and knowledge sharing. Other unique aspects that are also important to consider are social network and the importance of knowledge sharing in improving MSMEs Performance. The respondents are still limited in two areas, namely, Pekalongan and Klaten, so it still cannot represent the whole population. These areas also have different orientation of production process approach, namely, synthetic and natural dyes.

Innovation Culture and Process in Mediating Human Capital Supply Chain on Firm Performance

MUAFI, Muafi,SISWANTI, Yuni,DIHARTO, Awan Kostrad,SALSABIL, Imanirrahma Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.9

The purpose of this study is to examine and analyze the effect of human capital supply chain on the firm performance mediated by innovation culture and innovation process on small- and medium-sized construction enterprises (SMEs) in Indonesia. A survey has been distributed to all construction SMEs that have direct involvement in construction work (contractors and subcontractors). The construction SMEs including medium- and small-scale construction services in three Provinces, namely, the special region of Yogyakarta, East Java, and Central Java. Through purposive sampling technique, primary data is collected by giving a questionnaire to the owner/manager of construction SMEs. The target sample in this study was 200 respondents who have been operating for a minimum of two years. 154 valid questionnaires could be processed. Data analysis uses structural equation modeling with AMOS 24. The results of the study conclude that there is a positive effect on human capital supply chain on firm performance mediated by innovation culture and innovation process, while innovation culture does not affect firm performance. In sum, the innovation culture mediates the relationship between human capital supply chain and firm performance, and the innovation process mediates the relationship between human capital supply chain and firm performance.

Green Human Resources Management and Its Impact on Supply Chain and Business Performance: An Empirical Study in Indonesia

MUAFI, Muafi,KUSUMAWATI, Rizqi Adhyka Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.5

This study focuses on green human resources management (GHRM), which is currently a strategic issue in almost every service or manufacturing company, including courier service SMEs in Indonesia. This study intends to analyze the relationship between GHRM and supply chain organizational learning (SCOL), supply chain performance (SCP), and business performance (BP) still rarely studied. The population encompasses all courier service SMEs in the Special Province of Yogyakarta (DIY) and East Java, Indonesia. The study targets courier service SMEs that meet certain conditions; 130 SMEs responded from the target of 200 SMEs. Partial Least Square statistical technique is used. The results show that conventional HRM practices are increasingly being abandoned by courier companies in Indonesia, particularly in Special Province of Yogyakarta and East Java. Although GHRM has a negative and non-significant effect on BP, GHRM has a positive effect on SCOL and SCP. SCOL has a significant positive effect on SCP and BP. Furthermore, SCOL mediates the relationship between GHRM and SCP and SCOL mediates the relationship between GHRM and BP. Likewise, SCP has a positive effect on BP. In addition, SCP mediates the relationship between GHRM and BP. SCP also mediates the relationship between SCOL and BP.

Digital Entrepreneurship in Indonesia: A Human Capital Perspective

MUAFI, Muafi,SYAFRI, Wirman,PRABOWO, Hadi,NUR, Sofyan Ashari Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.3

Digital technology has become a new economic and social force, reshaping traditional business models, strategies, structures, and processes. This is a challenge for human capital to develop continuously in this dynamic era; one of the solutions is digital entrepreneurship. Digital entrepreneurship focuses on creating new ventures and transforming existing businesses by developing novel digital technologies or novel usage. Further, digital technology has also enabled the growth of the sharing economy, linking owners and users, and disrupting the previous dualism of businesses and customers. This paper provides a novel contribution regarding the emerging concept of Digital Entrepreneurship. Based on a qualitative literature review and interview with university staff, lecturers, and students in four large public and private universities in West Java and DIY Province, an interpretative framework for Digital Entrepreneurship has been proposed, which comprises of the following components: motivation (the rationale for the adoption of digital technology for academic entrepreneurship), stakeholders (the stakeholders involved through digital technology to achieve the academic entrepreneurship goal), process (the processes of academic entrepreneurship supported by digital technologies), and business form (the emerging forms of digital academic entrepreneurship). This research also shows several alternative government policies to improve digital entrepreneurship in the academic environment.

The Role of Corporate Governance in the Corporate Social and Environmental Responsibility Disclosure

Erlina DIAMASTUTI,Muafi MUAFI,Alfiana FITRI,Nur Elisa FAIZATY 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.1

The objective of this study is to examine the direct and indirect influences of government’s role, organizational commitment, and media exposure on the corporate social and environmental responsibility disclosure (CSERD) of 42 Indonesian state-owned enterprises (SOEs) with good corporate governance as the mediator. This study uses a quantitative approach with path analysis to test the hypothesis. The sample in this study was directors of 42 state-owned enterprises in Indonesia. The data was collected using a questionnaire with items assessed on a five-point Likert scale. This study finds that 1) the government’s role, organizational commitment, and media exposure have direct influences on good corporate governance and corporate social responsibility disclosure; 2) the government’s role and organizational commitment have significant influences on corporate social and environmental responsibility disclosure with the mediation of good corporate governance, indicating that government’s role and the organizational commitment are factors affecting Indonesian state-owned enterprises; and 3) the media exposure through good corporate governance mediation does not have a significant effect on corporate social and environmental responsibility disclosure. This means that media exposure is only one of the tools for CSERD, while SOEs have no obligation to disclose CSER through website or printed media.

Information and Communication Technology Adoption in Small- and Medium-Sized Enterprises: Demographic Characteristics

KUSUMA, Hadri,MUAFI, Muafi,AJI, Hendy Mustiko,PAMUNGKAS, Sigit Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.10

This study examines the acceptance factors, barriers, benefits, and strategies for resolving Information and Communication Technology (ICT) adoption and usage problems based on the different demographic characteristics of SMEs. The demographic characteristics investigated are gender, educational qualifications, age, managerial status, and years of business experience. To the best of our knowledge, this paper is the first to examine a more comprehensive demographic characteristics in the context of ICT adoption. A survey using self-administered questionnaires was conducted to retrieve information from SME owners/managers in Pekalongan, the local city of Indonesia. The items in the questionnaire were discussed with various experts in the field and a pilot study was conducted prior to the distribution of the research instrument. The study made some interesting findings. No significant differences were found in the SMEs' adoption factors between the demographics of gender groups and educational qualifications. However, significant disparities were found to exist among the age compositions, managerial status, and years in business. Additionally, younger managers/owners of SMEs find it easier to understand the background factors of ICT adoption. Lastly, older managers/owners are more likely to stick to the organizational status quo, be less able to learn new technology, and more likely to avoid risky decisions.

Empowering Leadership and Individual Creativity: The Mediation Role of Psychological Empowerment in Facing Covid-19 Pandemic

Yuni SISWANTI,Muafi MUAFI 한국유통과학회 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.11

This study tests and analyzes the influence of empowering leadership on employee creativity which is mediated by psychological empowerment. Researchers conduct survey method on state-owned bank employees (ABC Bank) in Pacitan, East Java, Indonesia. Purposive sampling is selected with Likert scale as measurement. The population of this study is 166 respondents, who are permanent employees of the ABC Bank. The data analysis technique used is SPSS 24. The results of this study find that: (1) there is an influence of empowering leadership on psychological empowerment, (2) there is an influence of empowering leadership on individual creativity, (3) there is an influence of psychological empowerment on individual creativity, and (4) the influence of empowering leadership on individual creativity is mediated by psychological empowerment. This study ignores other types of leadership. Further study is needed to examine other types of leadership besides empowering leadership. The level of analysis of this study is individual, so further study could examine empowering leadership conceptualized at the group level because followers will be influenced not only by the dyadic relationship with the leader, but also by the dynamics of the members of the empowered group. This study provides theoretical enrichment from the aspect of empowering leadership, especially at the individual level. Leaders can increase employee creativity by empowering them to do their jobs. Additionally, by creating a work environment that ensures employees feel empowered psychologically.

Antecedents and Consequences of Cyberloafing in Service Provider Industries: Industrial Revolution 4.0 and Society 5.0

Syahrial SHADDIQ,Siswoyo HARYONO,Muafi MUAFI,Dessy ISFIANADEWI 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.1

Cyberloafing is activity deviation at the workplace where employees intentionally avoid doing their job during working hours that results in a decrease in productivity. Particularly in the context of this study, cyberloafing activity is the usage of the Internet while working. Yet, studies on the antecedents and consequences of cyberloafing in the context of industrial revolution 4.0 and society 5.0 have not been conducted. This research used a purposive convenient sampling of 280 employees in the business services branches in Indonesia, particularly the representative business service branches located in some cities and regencies, including Yogyakarta City, Sleman Regency, and Bantul Regency (Special Region of Yogyakarta) and its surroundings. The results show 3 antecedents of cyberloafing and 1 consequence of cyberloafing which influence each other. Furthermore, these findings have filled the existing gaps regarding the antecedents and consequences of cyberloafing in service provider industries in the context of industrial revolution 4.0 and society 5.0. From the results of this research, it can be concluded that the five hypotheses proposed in this study are supported. The antecedents and consequences of cyberloafing have been tested and proven in this study as a contribution to science and technology.

Sharia Stock Reaction Against COVID-19 Pandemic: Evidence from Indonesian Capital Markets

RYANDONO, Muhamad Nafik Hadi,MUAFI, Muafi,GURITNO, Agung Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.2

The purpose of this study is to explore the reaction of sharia stock in the Indonesian capital market to the global Covid-19 pandemic. The method used in this study is an event study with a Market Adjusted Model (MAM) approach. The population of this study is shares listed on the Indonesian Stock Exchange (IDX), with the sample chosen from the Jakarta Sharia (Islamic) Index. The result of this study found that the global Covid-19 pandemic is bad news, with the indicators as follows: a) the average expected return is negative; b) the average actual return is negative; c) the average abnormal return is negative, and d) the increase selling action of stock as a cut loss strategy. There is a negative abnormal return and significant Trading Volume Activity (TVA) before, during, and after the announcement of the global Covid-19 pandemic. However, this study found no difference in abnormal return and TVA before and after the announcement of the global Covid-19 pandemic. From these results, this study indicates that the sharia stocks in the capital market in Indonesia can respond quickly to the information that existed. Therefore, the capital market of Indonesia is a capital market with a semi-strong efficient form.