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Anjani, Nike Putri; Baidlowi, Imam; Kasnowo, Kasnowo

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

Most agencies recognize the importance of work discipline as a foundation for shaping obedient and responsible employees. At KSP Semarak Dana Mojokerto, the implementation of work discipline, workload distribution, and motivation has been carried out to improve performance. However, issues such as low discipline, workload imbalance, and uneven motivation still persist, affecting employee performance. This study aims to examine the influence of work discipline and workload on employee performance, with work motivation as an intervening variable. The research was conducted through questionnaire distribution to employees. The population consisted of all active employees of KSP Semarak Dana Mojokerto. A total of 35 respondents were selected using non-probability sampling with the census or total sampling method. Data analysis was performed using path analysis with the SPSS 25 program. The results indicate that work discipline has a positive and significant effect on employee performance, while workload does not significantly affect performance. Work discipline also has a positive and significant effect on motivation, and workload has a positive and significant effect on motivation. However, motivation is not able to significantly mediate the relationship between work discipline or workload and employee performance at KSP Semarak Dana Mojokerto.

Fikri, Aris Cendikia; Mubarrok, Ujang Syahrul; Akbar, Taufik

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to explain and test hypotheses regarding the influence of customer experience and product variation on consumer purchase decisions at Mie Judes Sambi Kediri, with brand image as a mediating variable. This research uses an associative approach with a quantitative method. The sampling technique employed is purposive sampling, involving 100 respondents who are consumers of Mie Judes Sambi. Data were collected through questionnaires, observations, documentation, and literature studies. The analysis technique used is Structural Equation Modeling (SEM) based on Partial Least Square (PLS), processed using SmartPLS version 4.1.1.2, which includes testing the outer model, inner model, and hypothesis testing. The results of the study indicate that customer experience and product variation have a positive and significant effect on brand image and purchase decisions. Brand image also has a significant influence on purchase decisions. Furthermore, brand image is proven to significantly mediate the influence of customer experience and product variation on purchase decisions. These findings affirm that enhancing customer experience and providing product variations that align with consumer preferences play a crucial role in building a strong brand image, which ultimately impacts consumer purchase decisions at Mie Judes Sambi Kediri.

Fadilah, Dita; Rimawan, M.; Ovriyadin, Ovriyadin

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to analyze the effect of Total Asset Turnover (TATO) and Debt to Equity Ratio (DER) on stock prices at PT Unilever Indonesia Tbk for the period 2014 to 2023. This research uses a quantitative approach with an associative type of research. The data used is secondary data obtained from the company's annual financial statements and the official website of the Indonesia Stock Exchange. The data analysis method used is multiple linear regression, preceded by classical assumption tests to validate the model. The results show that partially, DER has a significant effect on stock prices, while TATO does not have a significant effect. However, simultaneously, both TATO and DER have a significant influence on stock prices. This indicates that the company’s capital structure plays an important role in influencing stock value in the capital market. Therefore, it is recommended that company management be more prudent in managing debt and improving asset utilization efficiency to attract investors and maintain the company’s stock price stability in the market.

Sari, Nurita; Munandar, Aris; Nurhayati, Nurhayati

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to analyze the financial performance differences of Bank Syariah Indonesia before and after the merger based on three key ratios: Financing to Deposit Ratio (FDR), Operational Expenses to Operating Income (BOPO), and Return on Assets (ROA). A comparative quantitative approach was applied using financial statement data from the 2017–2024 period, analyzed with normality tests and paired sample t-tests. The normality test results indicate that all data are normally distributed. The paired sample t-test reveals no significant difference in the FDR ratio before and after the merger, while significant differences are found in BOPO and ROA. These findings indicate that the merger affected the efficiency and profitability of the bank, but not directly the effectiveness of fund distribution. The study implies that Bank Syariah Indonesia needs to strengthen operational efficiency and asset management post-merger. Future researchers are encouraged to include non-financial variables and apply qualitative approaches to gain more comprehensive insights.

Heryanto, Heru; Apriadi, Deri

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to determine the effect of work environment and work discipline on employee performance. The type of research used is quantitative research. The study was conducted at the Official Honda Tridjaya Motor Subang Motorcycle Dealer. The number of respondents was 35 people. This study distributed questionnaires to employees. Data processing and analysis techniques used SPSS version 25. The results of the study stated that the Work Environment and Work Discipline had a significant effect individually and a significant effect together on the Performance of Employees at the Official Honda Tridjaya Motor Subang Motorcycle Dealer.A comfortable work environment and a high level of discipline will improve employee performance.

Azizeh, Fahrothul; Nadhiroh, Umi; Wahyu Arida, Ririn

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to explain and also prove the hypothesis regarding the effect of total asset turnover (TATO), debt to equity ratio (DER), current ratio (CR), and net profit margin (NPM) on profit changes in coal sub-sector companies listed on the Indonesia Stock Exchange in 2020-2021. The study uses quantitative research using purposive sampling techniques, the population is coal sub-sector companies and a sample of 32 financial reports from 8 companies in 2020-2023. The analytical techniques used are descriptive analysis, panel data estimation methods, classical assumption tests, t-tests (partial), F-tests (simultaneous), and coefficients of determination (R2). The results of the research that has been conducted, it can be concluded that total asset turnover partially does not have a significant effect on profit changes. The debt to equity ratio variable partially has a positive and significant effect on profit changes. The current ratio variable partially has a positive and significant effect on profit changes. The net profit margin variable partially has no effect on profit changes with. Simultaneously, the variables total asset turnover, debt to equity ratio, current ratio, and net profit margin influence changes in profit.

Raya, Diki Kurnia; Widuri, Trisnia; Nadhiroh, Umi

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to determine whether there is a significant difference in stock returns before and after stock splits among companies listed in the LQ-45 Index on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. A stock split is a corporate action believed to provide a positive signal to investors. This research uses a quantitative approach with an event study method. The sample consists of 14 companies that carried out stock splits while being listed in the LQ-45 Index. Stock returns are calculated using an 11-day event window and a 60-day estimation period. The data analysis technique employed is the paired sample t-test to examine the difference in returns. The results show a significant difference, with a p-value of 0.006 < 0.05. However, the difference is negative, as most companies experienced a decline in stock returns after the stock split. This decrease may be caused by investors engaging in profit-taking after the stock split euphoria, or due to the short observation period, which may not have fully captured the market’s response. The author recommends that companies carefully consider the timing and implications of stock splits and ensure transparent communication with investors.

Ariani, Bella; Idris, Ahmad; Widuri, Trisnia

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This research is motivated by significant fluctuations and a decline in profits for companies in the clothing and luxury goods subsector listed on the IDX for the period 2021-2023, indicating potential financial difficulties. This research aims to evaluate the company's condition using four prediction models, namely Altman-ZScore, Springate, Fulmer, and Taffler, and to determine the most suitable model for the sector. The method applied is quantitative comparative with a purposive sample of 11 companies, using financial statement data from 2021-2023 and analyzed using the formulas for each predictive model. The research findings indicate that the four models produce different predictions regarding the company's financial condition. Additionally, there are differences in the accuracy levels of the four models. The Springate and Taffler models achieved the highest accuracy rate of 85%, followed by Altman at 67% and Fulmer at 64%. The findings of this study confirm that the Springate model is the most reliable tool for early warning for companies and stakeholders, enabling faster preventive measures to prevent bankruptcy.

Karlina, Leni; Badar, Muhammad; Irawan, Ikba

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to analyze the effect of training and human resource development on employee performance at the Social Service Office of Bima City. The research was motivated by the low level of employee productivity, limited budget allocation for development programs, and the tendency of some employees to delay task completion. The study employs a quantitative approach with an associative method. The population consists of 59 employees, with a sample of 35 civil servants selected through purposive sampling. Data were collected using questionnaires, observation, interviews, and documentation. The analysis techniques include validity and reliability tests, classical assumption tests, multiple linear regression, t-test, and F-test. The findings show that both training and human resource development have a significant and positive impact on employee performance. Training improves employee skills, while development efforts enhance competencies to meet organizational demands. The study suggests that structured training and development programs should be optimized to improve public service performance.

Nafis, Moh. Abi Adhurun; Widiawati, Hestin Sri; Linawati, Linawati

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

The Dividend Payout Ratio (DPR) changes in food and beverage companies listed on the Indonesia Stock Exchange between 2019 and 2023, which reflect shifts in dividend policy, are what spurred this study.  Dividend policy is important since it helps to win over investors.  Nonetheless, management frequently has to decide whether to pay dividends or keep profits for investments.  Finding out how management ownership, profitability, leverage, and business size affect dividend policy in food and beverage companies listed on the Indonesia Stock Exchange is the aim of this study. This study is classified as a quantitative causality study.  50 food and beverage firms made up the sample, which was selected using a purposive sampling technique.  The SPSS version 25 multiple linear regression software was used to examine these data.  This study demonstrates that the dividend policy of companies in the food and beverage sector listed on the Indonesia Stock Exchange is influenced, in part, by management ownership, profitability, leverage, and company size.  Conversely, the dividend policy of companies in the food and beverage sector listed on the Indonesia Stock Exchange is influenced by management ownership, profitability, leverage, and company size.

Fadilah, Nur; Badar, Muhammad; Jaenab, Jaenab

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to examine the influence of competence, job placement, and work discipline on employee performance at the Samsat Office of Bima Regency. The research applies a quantitative approach using a survey method. Data were collected through questionnaires distributed to 30 civil servants selected using purposive sampling. The data analysis techniques include validity and reliability tests, multiple linear regression, t-test, and F-test. The results show that competence, placement, and work discipline each have a positive and significant influence on employee performance, both partially and simultaneously. The coefficient of determination indicates that 45.2% of the variance in performance is explained by the three variables. These findings suggest that improving employee competence through training, placing staff according to their skills, and consistently enforcing work discipline can enhance employee effectiveness and productivity. The study has important implications for human resource management in public institutions, particularly in improving service quality through better employee performance.

Damayani, Dila; Murdiyanto, Edi; Mahaputra, Agung Pambudi

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to analyze and determine whether or not there are differences in financial performance between cigarette sub-sector companies listed on the Indonesia Stock Exchange in 2016 - 2023. This type of research uses quantitative research with a comparative method. Sampling was carried out using the purposive sampling method and four companies were obtained. The data used in this study are secondary data using the company's annual financial reports. Hypothesis testing was carried out using the Kruskal-Wallis test for non-normally distributed data and the One-Way ANOVA test for normally distributed data. The results of the study indicate that there are significant differences between the financial performance of PT HM Sampoerna Tbk, PT Gudang Garam Tbk, PT Wismilak Inti Makmur Tbk, and PT Indonesian Tobacco Tbk as seen from the liquidity ratio (Current Ratio), solvency ratio (Debt To Asset Ratio), activity ratio (Total Asset Turn Over), and profitability ratio (Return On Asset).

Haq, Iyanul; Muchlis Djuniarsah; Syafri, Syafri

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

Penelitian ini bertujuan untuk menganalisis pengaruh angka kemiskinan terhadap indikator pendidikan di Kota Semarang selama kurun waktu 2020–2024. Kemiskinan dan pendidikan merupakan dua masalah sosial yang saling terkait erat dan menjadi tantangan besar di wilayah perkotaan, terutama pascapandemi COVID-19. Penelitian ini menggunakan metode deskriptif kuantitatif dengan menggunakan data sekunder dari Badan Pusat Statistik (BPS) dan Dinas Pendidikan Kota Semarang. Variabel yang dianalisis meliputi angka kemiskinan sebagai variabel bebas, dan angka partisipasi sekolah, rata-rata lama sekolah, dan angka putus sekolah sebagai variabel keterikatan. Analisis data dilakukan dengan menggunakan regresi linier sederhana untuk menguji pengaruh kemiskinan terhadap pencapaian pendidikan. Hasil penelitian menunjukkan bahwa angka kemiskinan berpengaruh signifikan terhadap indikator pendidikan di Kota Semarang. Penurunan angka kemiskinan cenderung terjadi dengan peningkatan angka partisipasi sekolah dan rata-rata lama sekolah, serta penurunan angka putus sekolah. Temuan ini menekankan pentingnya intervensi kebijakan terpadu yang membahas penanggulangan kemiskinan dan peningkatan akses dan kualitas pendidikan untuk memutus siklus kemiskinan antargenerasi di Kota Semarang.   Kata Kunci:  kemiskinan, pendidikan, regresi linier sederhana, angka partisipasi sekolah, rata-rata tahun sekolah, sekolah di Kota Semarang, Kota Semarang

Muklis, Moh; Rosadi, Muhammad Iqbal; Rohman, Abdur

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to analyze the digital marketing strategies implemented by clothing stores in the Telang area from a sharia economic perspective. In the digital era, business actors are required to adapt to technology, including in terms of promotion and marketing. The approach used in this study is descriptive qualitative, with data collection through observation, interviews, and documentation. The results of the study show that most business actors have utilized social media such as WhatsApp, Instagram, and Facebook Marketplace to market their products. The strategies implemented are mostly in line with the principles of sharia economics such as honesty (ṣidq), openness (tabligh), and amanah. However, some practices that are not in accordance with sharia are still found, such as the use of photos that do not match the original product (gharar) and excessive promotion (tadlis). The main inhibiting factors in the implementation of sharia digital strategies are limited digital literacy and infrastructure. Therefore, ongoing assistance and training in sharia-based digital marketing are needed to improve understanding and business practices in accordance with Islamic values.

Ulayya, Jihan; Bayangkara, Agasta Veda; Ramawati, Diah Bintang; Lintang, Queendira; Damayanti, Citra +1 more

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

The purpose of this study was to see how promotions and live streaming features impact the decision of Shopee users to purchase fashion products in the 2022 intake. This quantitative study involved 54 respondents from a population of 117 students selected through a simple random sampling method. Primary data were collected through online questionnaires and analyzed using multiple regression using SPSS. Validity, reliability, classical assumptions, and hypothesis tests were also conducted. The study shows that students of Economics Education, Sebelas Maret University, 2022 intake significantly choose fashion products because of promotions and Shopee's live streaming features. Promos are considered to be able to save consumer spending, thus increasing interest and enthusiasm for transacting through the Shopee application. Meanwhile, the live streaming feature makes it easier for consumers to see products directly, assess quality, and make purchases more practically. As for further researchers, it is recommended to add other variables (for example, consumer trust), compare with other e-commerce platforms, use mixed methods, analyze different user segments, and examine the long-term impact on brand loyalty.

Azzuhra, Dirra; Putri, Juliana

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This article discusses risk management strategies in the face of global market uncertainty triggered by the process of globalization and economic interconnection. Through a literature review, it highlights the importance of a proactive, flexible and collaborative approach that integrates various aspects such as politics, economics, technology and human resources. The use of modern technologies such as artificial intelligence (AI) and big data analysis is key in accelerating risk detection and appropriate decision-making. In addition, strengthening human resources, investment diversification, building risk reserves, and cross-departmental and external collaboration are considered key strategies to improve organizational resilience and competitiveness amid global uncertainty. The results of this study provide recommendations for organizations to adopt a comprehensive and sustainable approach to risk management to maintain business stability and sustainability in the era of globalization.

Maharani, Aulia Hari; Ramadhani, Siska; Irwana, Natasia; Noviyanti, Indah

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to evaluate the extent to which service quality, store atmosphere, and the implementation of proactive strategies contribute to business strategy at CV MM Acing Jaya located in Pangkalpinang. This study uses a quantitative approach with data collection techniques through distributing questionnaires to 71 respondents consisting of customers and business partners of the company. Multiple linear regression analysis was used to test the research hypothesis consisting of three independent variables (service quality, store atmosphere, and proactive strategy) and one dependent variable (business strategy). The results showed that store atmosphere and proactive strategy had a positive and significant effect on business strategy, while service quality showed no significant effect. The findings suggest that the creation of a supportive store atmosphere and the implementation of responsive and innovative strategies are important factors in strengthening the competitiveness of ritel companies. This research provides a practical contribution for businesses in developing business strategies that are more adaptive and oriented to consumer needs.

Jinan, M Ghilman Nur; Ulya, Putri Adibah; OktalianSyah, Resti Kusumawati; Shafrani, Yoiz Shafwa

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

Islamic microfinance institutions (IMFIs) in Indonesia have experienced notable progress in line with the growing public interest in Islamic economic principles. However, the competition between Islamic and conventional microfinance sectors is becoming increasingly intense. The LKMS BTM Artha Surya Cooperative, located in Tegal Regency, is currently facing pressure due to this competitive environment and must formulate an effective strategy to sustain and grow its business. This study aims to formulate a strategy using the Blue Ocean Strategy framework as an alternative to overcoming business rivalry. A qualitative approach was employed, gathering primary data through interviews and field observations at BTM Artha Surya Tegal, supported by secondary sources from relevant literature. The findings reveal that BTM Artha Surya has undergone transformation into Baitul Tanwil Muhammadiyah (BTM) Artha Surya and now provides various Sharia-compliant financing services. This research further elaborates on the murabahah financing process, including the recognition, measurement, and disclosure practices implemented in the financial statements of BTM Artha Surya Tegal.

Saputro, Riko Fajar; Tarigan, Djoesept Harmat

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

Non-Civil Servant Government Employees (PPNPN) are a vital component in the operational activities of an organization. However, their performance management faces challenges in efficiency and standardization. This scientific paper examines the potential implementation of Google Sites as a platform for PPNPN performance management. The analysis focuses on the existing regulatory framework. The proposed model leverages the integration of Google Sites with Google Forms, Google Sheets, and other supporting applications provided by Google to digitize the performance management cycle, from planning, monitoring, and evaluation (based on indicators such as integrity, discipline, teamwork, communication, and service), to documentation and feedback. The main advantages of this platform include administrative efficiency, increased data transparency and accessibility, centralized data management, potential for consisten process, collaboration, and cost-effectiveness. Nevertheless, its implementation faces significant challenges related to the digital literacy gap among PPNPN with diverse roles, data security and privacy issues in the public sector, the need for robust change management, feature limitations compared to specialized HRIS systems, particularly in the Ministry of Finance where the research object's office is located, and the necessity for adequate supporting infrastructure. This research concludes that Google Sites offers a technically viable solution, but its success highly depends on the organizational and human resource readiness of both the HR managers and the PPNPN themselves.

Hidayat, Nurul; Warani, Tofel; Pangestu, Muhamad Agung; Mikal, Ribkayanti

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

Micro, Small, and Medium Enterprises (MSMEs) play a vital role in supporting regional economic development. However, inefficient inventory management remains a significant challenge in operational effectiveness. This study aims to analyze raw material inventory control at Kebab & Burger Foursist MSME in Tarakan City using the Economic Order Quantity (EOQ) and Reorder Point (ROP) methods. A descriptive quantitative approach was employed, utilizing annual sales data, ordering costs, and storage costs of main raw materials. The results indicate that the implementation of EOQ and ROP effectively determines the optimal purchase quantity and reorder timing, thereby minimizing total inventory costs and reducing the risk of stockouts or overstocking. The use of POM-QM for Windows software enhances the accuracy of the analysis. The implications of this study offer practical solutions for MSME actors in managing raw material procurement more efficiently and systematically.