Jasa Marga Research Articles

The Effect of Motivation, Job Satisfaction, Organizational Culture and Work Environment on Organizational Commitment to Employees:

This study aims to determine the effect of motivation, job satisfaction, organizational culture, and work environment on organizational commitment to employees of PT. Jasa Marga Pandaan-Malang. This study uses quantitative methods. The type of research used is descriptive research. The population in this study were all employees of PT. Jasa Marga Pandaan-Malang, which has 96 employees. Sampling using the saturated sample technique resulted in 96 respondents. Data collection techniques used are questionnaires and interviews. The analytical technique used in this research is multiple linear regression using SPSS version 18 program. The results of this study indicate that the simultaneous test of motivation, job satisfaction, organizational culture, and work environment variables have an influence on organizational commitment of PT. Jasa Marga Pandaan-Malang. The variable that has the most significant effect on organizational commitment is the work environment variable. Keywords – Motivation; Job satisfaction; Organizational culture; Work environment; Organizational Commitment

Pengaruh Kompensasi, Kompetensi, Dan Motivasi Pada Produktivitas Kerja Pegawai Pt. Jasa Marga (Persero) Tbk. Cabang Palikanci

There is job dissatisfaction that some employees at PT. Jasa Marga (Persero) Tbk. The Palikanci branch resulted in low work productivity. This study took a sample of 58 employee respondents. The technique of taking using purposive sampling was collected through a questionnaire instrument aimed to determine the effect of compensation, competence, and motivation on work productivity. The analysis technique uses multiple regression analysis. It was found that there was a positive and significant influence between the variables of compensation, competence, motivation on work productivity at PT. Jasa Marga (Persero) Tbk. Palikanci branch either partially or simultaneously. So it is necessary to pay attention to the company so that it can pay more attention to the amount of compensation given and appreciation of employee competence to increase work productivity. Likewise, high motivation must be evaluated to increase work productivity which will help the company achieve its goals.

Formulasi Strategi Bisnis PT Jalan Tol Perkasa

PT Jalan Tol Perkasa (PT JTP) is one of the strategic units of the PT. Jasa Marga (Persero), Tbk. (JSMR) which operates in the field of toll road development and maintenance. With the Covid19 pandemic, JTP needs to formulate the appropriate business strategy so that it can be implemented in order to achieve the business revenue and profit targets for the 2020-2022 period. This research is an applied research that uses a business strategy formulation framework from David & David (2016). Through this framework, the quality of JTP's strategic response to potential opportunities and threats from the external environment is evaluated through the External Factors Evaluation (EFE) matrix, while JTP's strengths and weaknesses are evaluated through the Internal Factors Evaluation (IFE) matrix. The development of alternative strategies is carried out using two matrices: an internal-external matrix (IE) and a SWOT matrix (Strength, Weakness, Opportunity, Threat). From the IE matrix, it is known that JTP is in a position to hold and maintain, where the alternative business strategies that should be taken are market penetration and product development. From the SWOT matrix, three strategies can be implemented: obtaining maintenance work on all Jasa Marga Group and Non Jasa Marga toll roads, implementing Performance Based Maintenance Contracts (PBMC) with long-term contracts, and innovating maintenance products. Finally, the priority strategy that will soon be implemented is determined using the Quantitative Strategic Planning Matrix (QSPM) matrix.

Nilai Perusahaan pada Struktur Modal Optimal PT. Trans Marga Jateng dan PT. Jasamarga Surabaya Mojokerto Tahun 2020

In order to maintain the company's ability to fulfill its liabilities, PT. Jasa Marga (Persero) Tbk will takes a corporate action strategy to strengthen capital structure for the Toll Road Subsidiaries (/APJT). APJT selected are PT. Trans Marga Central Java (/PT. TMJ, is the operator of Semarang-Solo toll road) and PT. Jasamarga Surabaya Mojokerto (/PT. JSM, is the operator of Surabaya-Mojokerto toll road) because of its capability to fulfill their solvents. Corporate action strategy done by analyze related with company performance baluation, optimal capital structure analysis. For Company performance valuation, analyze is done with company's financial ratios. From the calculation and analysis of profitability ratios; liquidity ratios and solvency ratios, PT. TMJ and PT. JSM during year 2015-2019 showed fair good performance. The composition of the capital structure to obtain optimal value for PT. TMJ and PT. JSM are range from 60:40 to 30:70 for the composition of debt and equity. The results of the company valuation using Discounted Cash Flow (DCF) method show that the company value of PT. TMJ, with a capital structure composition of 60:40 worth IDR. 25,862,- /share and with a capital composition of 70:30 share value of PT. TMJ in the amount of IDR.10,418,- /share. As for PT. JSM with a capital structure composition of 60:40 is IDR. 2,709,- /share and with a capital composition of 70:30 the share value of PT. JSM is IDR. 911,- /share. From analyze result, Management should pay more attention in capital expense due it’s effect in Optimizing Capital Structure, then from that Optimal Capital structure, APJT can reduce debt portion dan increasing uts equity portion through several strategy

Fundamental Analysis And Technical Analysis Before Covid-19: Empirical Study On LQ45 Indexed Shares In BEI

Stock investment has the potential to provide returns. Determining a portfolio is the first step for investors in investing. Commonly used stock analysis is fundamental analysis and technical analysis. The purpose of this study is to present a fundamental and technical analysis of company shares indexed by LQ45 on the Indonesia Stock Exchange (BEI) for the 2015-2019 period. The research method used is descriptive statistics. The sample of this study used a purposive sampling technique so that there were 17 companies collected. The results of fundamental analysis show that Gudang Garam Tbk, Matahari Department Store Tbk, Bukit Asam (Persero) Tbk, Surya Citra Media Tbk, and Unilever Indonesia Tbk have good ratio values. As for technical analysis, Gudang Garam Tbk Jasa Marga (Persero) Tbk Surya Citra Media Tbk Waskita Karya (Persero) Tbk shows a buy signal.

PENGARUH KECANGGIHAN TEKNOLOGI INFORMASI, DUKUNGAN MANAJEMEN PUNCAK DAN KOMPETENSI KARYAWAN AKUNTANSI TERHADAP EFEKTIVITAS SISTEM INFORMASI AKUNTANSI

Accounting information System is said to be effective when information provided by the system can serve the needs of system users. Therefore, the purpose of this research is to analyze the sophistication of information technology, peak management support and employee competence accounting towards the effectiveness of accounting information system in PT. Jasa Marga (Persero) TBK Branch Palikanci-Cirebon. Where PT Jasa Marga (Persero) TBK will gradually reimburse the cash transaction system into a non-cash transaction at all toll gates. With the implementation of 100% non-cash transactions are gradually expected to help early socialization to road users. This study used a questionnaire that was distributed to 39 respondents consisting of the Finance Division, the operational Division and the Human Resources division of PT. Jasa Marga (Persero) TBK branch of Palikanci-Cirebon. This type of research is (basic research). The data analysis methods used in this study were multiple regression analysis. The results showed that the sophistication of information technology and top management support has an effect on the effectiveness of accounting information systems, whereas accounting employee competence has no effect on the effectiveness of the system Accounting information. Keywords: Effectiveness of accounting information systems, sophistication of information technology, top management support, accounting employee Competence

Analysis of Gempol Muslim Society’s Interest on The Use of E-Toll Card

This research is motivated by problems often occuring on toll roads, especially during transactions at the gate. Transactions that occur between officers and drivers take a long time because toll officials have to check the origin of the vehicle to determine the rate, then calculate the change. To anticipate congestion on toll roads, especially during peak days and hours because the queues at the toll booths are too long, a higher speed is required in making toll payments using the electronic toll service (e-Toll) at the Automatic Toll Gate (GTO). This research is a qualitative research, the data is obtained by natural setting. Data collection techniques were carried out by observation, interviews and documentation. The outline in collecting the data is that the author will find out about whether the Muslim community of Gempol knows about the e-Toll card, the community uses e-Toll for what reasons, then the researcher will find out the extent of interest in using e-Toll cards in the region of Gempol. The results showed that; first, the interest of the Gempol Muslim community in using e-Toll cards is still low because it is far from the target number. According to predictions of Jasa Marga employees, it still reached 17 percent as of January 2018, while the target figure is 100 percent. In addition, there are also many pros and cons of the bank's new product in the form of e-Toll. E-Toll card has no significant relationship with reducing congestion, although as of October almost 100% of toll gates in Indonesia use GTO, but for congestion it could be due to vehicle volume, road engineering, accidents, narrowing of lanes, reduction of lanes, number of gates tolls, and the number of toll gates opened. Second, the factors influencing the Muslim community of Gempol on the use of e-Toll cards are government regulations, the influence of advertisements and the public feel the benefits obtained from e-Toll.

Penilaian Tingkat Kesehatan Keuangan Perusahaan Berdasarkan SK Menteri No. KEP-100/MBU/2002 (Studi Kasus PT Jasa Marga (Persero) Tbk Periode 2014 – 2018)

This research aims to measure the level of financial health of PT. Jasa Marga (Persero) Tbk. 2014 - 2018 period based on SK. Minister of BUMN No. KEP-100 / MBU / 2002 and this research focuses on one aspect, namely the financial aspect. This research uses 8 analysis aspect, namely ROE, ROI, Cash Ratio, Current Ratio, Collection Periods, InventoryxTurnover (ITO), TotalsAsset Turnover (TATO), and TMS againstwTA. This research method using descriptive method. The type of data used is quantitative data. The data source used is secondary data obtained from financial reports through www.jasamarga.com. Based on the results of the analysis that has been done, the level of financial health of PT. Jasa Marga (Persero) Tbk in 2014 received the predicate A (Healthy). In 2015 received the predicatewA (Healthy). In 2016 received the predicate BBB (Less Healthy). Inz2017 received the predicate BBB (Less Healthy). In 2018 received thewpredicate BBB (Less Healthy).

PENGARUH STRES KERJA, BEBAN KERJA, LINGKUNGAN KERJA TERHADAP KINERJA KARYAWAN PT. JASA MARGA (PERSERO) TBK CABANG BELMERA

Employee performance can be relied on by several factors that can improve or enhance employee performance. These factors include work stress, excessive workload and a work environment that is not conducive. This study aims to analyze the effect of work stress, workload, and work environment on employee performance at PT. Jasa Marga (Persero) Tbk Belmera Branch. Data were collected from questionnaires from 50 respondents for statistical analysis. The statistical analysis used is descriptive analysis and multiple linear regression analysis. The results showed that Job Stress (X1), Workload (X2) and Work Environment (X3) had a positive and significant effect on Employee Performance (Y) at PT. Jasa Marga (Persero) Tbk, Balmera Branch, Medan, either partially or simultaneously. The findings above illustrate that the company can implement measures to prevent work stress, workload and create a work environment to achieve more optimal employee performance.

Pengaruh CR, DER, dan ROA terhadap Nilai Perusahaan pada PT Jasa Marga Tbk Tahun 2010-2019

This study aims to analyze the effect of current ratio, the ratio of debt to equity, and the ratio of the rate of return on assets to firm value at PT jasa marga (PERSERO) Tbk in 2010-2019. This study uses multiple linear regression statistical methods. The independent variables used in this study are current ratio (CR), debt to Equity (DER), and return on assets (ROA) while the dependent variable is price to book value (PBV) which is a proxy for firm value. The results obtained indicate that simultaneously the current ratio, debt to equity ratio and asset return ratio variables have a significant effect on firm value. Then partially current ratio and assets return ratio variables have no significant effect on firm value while debt to equity ratio has a negative significant effect on firm value.

Risk analysis of toll road KPS project with SSM (Soft System Methodology) at Gempol – Banyuwangi toll road

Indonesia has a big dream of catching up with infrastructure development with other countries such as Malaysia and Thailand. The toll road as a pioneer of economic development in the future was built to connect Merak to Banyuwangi through the infrastructure of the Trans Java Toll Road. Gempol-Pasuruan, Pasuruan-Probolinggo, and Probolinggo Banyuwangi Toll Roads are the last tipping points and one of the concessionaires is PT. Jasa Marga Probolinggo Banyuwangi. Toll road construction is not free from limited infrastructure financing in Indonesia and the risks of this project disrupt project performance and affect the cost of the project, project time, and building quality. Soft System Methodology (SSM) method can help solve the problem of project risks starting from identifying the risks of project implementation and analyzing the risks that might occur. This research was conducted using the purposive sampling technique to collect respondent data from 3 toll roads and then analyze it with a probability risk test, consequence risk test, and soft system methodology (SSM). It can be concluded that the risk of obstacles in the mountainous region, relocation of roads that intersect with community social facilities is the most extreme risk which hinders the implementation of the construction of these 3 toll road projects.

PENGARUH PELATIHAN DAN DISIPLIN KERJA TERHADAP KINERJA KARYWAN PT. JASA MARGA DI GERBANG TOL CIKAMPEK UTAMA

To determine the effect of training and work discipline on the performance of employees of PT. Jasa Marga at the Main Cikampek Toll Gate. This research is included in the category of causal associative research using a quantitative approach. The study population was all employees of PT. Jasa Marga who served at the Main Cikampek Toll Gate. This research sampling technique using simple random sampling. This study used a sample size with the Slovin formula. Analysis method with simple and multiple linear regression. The result partially or simultaneous training and work discipline have a positive and significant effect on the performance of employees of PT. Jasa Marga Main Cikampek Toll Gate is good.

Analisis Faktor Yang Berhubungan Dengan Postur Kerja Karyawan di Kantor Pusat PT Jasa Marga (Persero) Tbk

Work posture is the position of the body when doing work activities. Incorrect work posture is often caused by the location of equipment or facilities, workplace layout, inappropriate work environment conditions, or a combination of several of these factors. Any body position can cause discomfort and fatigue if maintained for a long time, including workers in the office. Therefore this study will be carried out Observation ns of workers at the Head Office of PT. Jasa Marga who works for 8 hours per day using a computer. To minimize the level of injury risk by knowing and identifying work postures on workers using computers. To assess the ergonomic risk of office workers that can cause Musculoskeletal Disorder is by observing ROSA. This research is a quantitative study with a cross-sectional study design. The statistical test used is Chi-square. And using simple random Sampling as many as 88 people. Univariate test results of this study showed that as many as 50 people have a high-risk work posture. based on the results of the bivariate test, it was found that the variables associated with work posture using the ROSA method were anthropometri factors and sports activity factors with p value 0.006 and 0.042. To prevent or reduce high-risk work posture should do modify or replace workstation in the office, and perform workplace stretching exercise when the muscles begin to tense.

ANALISIS PERAN INSPEKTORAT UTAMA DALAM PENCEGAHAN FRAUD (STUDI PADA BADAN PEMERIKSA KEUANGAN REPUBLIK INDONESIA)

ABSTRACT In 2017, there were two cases of fraud which involved Supreme Audit Institution’s (BPK) auditors at the Ministry of Village, Disadvantaged Regions Development and Transmigration; and at PT Jasa Marga. These incidences indicate that the roles of BPK’s Inspectorate Office are not yet optimal in preventing fraud. This research aims at obtaining a description and comprehension about the process of fraud prevention conducted by the Inspectorate Office, and to analyze the reasons why fraud cases persist in the process of inspection performed by BPK auditors, despite the many efforts of fraud prevention by the Inspectorate Office.This research was conducted on the Inspectorate Office which is in charge of performing monitoring on the implementation of all BPK employees’ duties and functions. This research uses a qualitative method with a case study approach. The data collection technique used in this research is semi-structured, in-depth interview using an interview guide. Additionally, this research also uses a document review technique on activity performance reports and internal regulations in the BPK.The research results show that the Inspectorate Office has performed the five types of fraud prevention efforts in the BPK, namely prevention, deterrence, disruption, identification, and prosecution. Whereas the persistence of fraud in the process of examination conducted by the BPK is caused by three factors, namely pressure that comes from needs or lifestyle, opportunity which emerges due to weaknesses in the internal control system, and rationalization.

Return Portofolio Optimal Menggunakan Single View Black-litterman Model dengan Pendekatan ARIMA (Autoregressive Integrated Moving Average)

At this time stock investment is one investment option. To obtain optimal profits a stock portfolio is needed.
 A portfolio is a combination of several shares. To form a portfolio, a model is needed to achieve an optimal portfolio. This research uses Single View Black-Litterman Model with ARIMA (Autoregressive Integrated Moving Average) approach. The selected shares are PT. Jasa Marga (JSMR), PT. Unilever Indonesia (UNVR), and PT. Waskita Karya (WSKT).

Pengaruh Likuiditas terhadap Harga Saham PT. Jasa Marga (Persero) Tbk

This study aims to determine whether there is a significant effect between Liquidity on Share Prices at PT. Jasa Marga (Persero) Tbk. Liquidity as the independent variable while the Stock Price as a Bound Variable. The cause of Jasa Marga's share price decline is because the company will enter an expansion cycle. This increase was due to the increase in debt to the Bank to finance land bailouts to the Subsidiaries which was quite high. This condition is considered to have influenced the downward trend in share prices of PT. Jasa Marga (Persero) Tbk. This type of research is associative using secondary data, the population used is financial statement data for 12 years starting in 2007 - 2018 while the sample in this study is financial statement data for 5 years, namely in 2014 - 2018. The sampling technique using Purposive Sampling. Collection techniques using documentation and study of literature. Data analysis techniques using Current Ratio, Simple Linear Regression Analysis, Simple Correlation Coefficient, Simple Determination Coefficient, and One-Sample t-Test Analysis. The results of the Current Ratio value have fluctuated for 5 years, but losses have increased very high in 2015, 2016, and 2018. Current Ratio has a significant effect on the Stock Price

Model Kemitraan CSR untuk Pengembangan UMKM yang Berkelanjutan: Studi Kasus Program Kemitraan pada PT Jasa Marga (Persero) Tbk

This research aims to examine Corporate Social Responsibility (CSR) Partnership Program to find an optimal and sustainable partnership model between State-owned Enterprises (SOEs) and Micro Small and Medium Enterprises (MSMEs) to advance the people's economic sector. This research was qualitative research with a case study approach. Data collection techniques used in this research were in-depth interviews, observation, and literature studies. In-depth interviews were conducted with 3 informants chosen as representatives of PT Jasa Marga (Persero) Tbk and 6 informants were taken as participants in Focus Group Discussions representing MSMEs fostered partners in the Jagorawi - Cikampek Toll network area. Informants were selected using a purposive sampling technique. The results showed that the CSR partnership model between SOEs and MSMEs is based on mutual respect, transparency, good communication and trust, mutual benefit to those involved, and has a consistent commitment from both parties.

VALUE AT RISK PADA PORTOFOLIO SAHAM DENGAN COPULA ALI-MIKHAIL-HAQ

Investment is one alternative to increase assets in the future. Investors can invest in a portfolio to reduce the level of risk. Value at Risk (VaR) is a measuring tool that can calculate the worst loss over a given time period at a given confidence level. GARCH (Generalized Autoregressive Conditional Heteroskedasticity) is used to model data with high volatility. The teory of copula is a powerful tool for modeling joint distribution for any marginal distributions. Ali-Mikhail-Haq copula from Archimedean copula family can be applied to data with dependencies τ between -0.1817 to 0.3333. This research uses Ali-Mikhail-Haq copula with a Monte Carlo simulation to calculate a bivariate portfolio VaR from a combination stocks of PT Pembangunan Perumahan Tbk. (PTPP), PT Bank Tabungan Negara Tbk. (BBTN), and PT Jasa Marga Tbk. (JSMR) in the period of March 3, 2014 - March 1, 2019. The results of VaR calculation on bivariate portfolio for next 1 day period obtained the lowest VaR is owned by bivariate portfolio between PTPP and JSMR with a weight of 30% and 70% at confidence level of 99%, 95%, and 90% respectively are 4.014%, 2.545%, and 1.876%.Keywords: Value at Risk, GARCH, Ali-Mikhail-Haq Copula, Monte Carlo

EVALUASI SISTEM PENGENDALIAN INTERNAL ATAS PROSEDUR PENERIMAAN PENDAPATAN TRANSAKSI TOL NONTUNAI (E-TOLL) PADA PT JASA MARGA (PERSERO) TBK. CABANG PURBALEUNYI

PT Jasa Marga (Persero) Tbk. Purbaleunyi Branch is a state-owned enterprise service, as enforcement and services for the toll road. In providing services that are effective, efficient, safe, comfortable, and ease the accessibility of toll roads for users, a non-cash toll payment system is implemented (e-toll). The implementation of internal control at PT Jasa Marga (Persero) Tbk. Purbaleunyi Branch still has weaknesses, such as the placement of employees are placed unsuitable with their education and proficiency causing inefficient work. Moreover, there is no written policy on standard operating procedures regarding receipt of e-toll income and job rotation that are not routinely do so that the vulnerability of fraud occurs. This study aims to evaluate the implementation of internal control on the non-cash receipt of toll transaction procedure (e-toll) that applied by PT Jasa Marga (Persero) Tbk. Purbaleunyi Branch. The method used in this research is descriptive analytics method by taking interviews, observation, and documentation. The analytics tool used in this study is a control matrix based on the Committee of Sponsoring Organizations.Based on the results of this research, it can be concluded that internal control on the non-cash receipt of toll transaction procedure (e-toll) at PT Jasa Marga (Persero) Tbk. Purbaleunyi Branch has been adequate and effective.

ANALISIS PENGARUH LIKUIDITAS, STRUKTUR AKTIVA, FREE CASH FLOW, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN UTANG (DER) PADA PT JASA MARGA Tbk PERIODE 2009-2018

<em>This research is based on the problems of the company PT Jasa Marga Tbk which has a problem with the performance of the company which is indicated by the DER of companie increased during the period 2009-2018. The purpose of this research is to analyze the influance of direction and significance of Liquidity, Asset Structure, Free Cash Flow and Company Size on Debt Policy (DER) in PT Jasa Marga Tbk for the period 2009-2018. The population and sample in this study were PT Jasa Marga Tbk. The analysis model used in this study is a multiple linear regression model. The results of the multiple linear regression analysis showed that (1) the influance of Liquidity (CR) on Debt Policy (DER) was positive and significant (2) the influance Asset Structure on Debt Policy (DER) was negative and not significant (3) the influance of Free Cash Flow on Debt Policy (DER) is positive and significant (4) the influance of Company Size on Debt Policy (DER) is positive and significant.</em>