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All Journal Asia-Pacific Management and Business Application
I Putu Astawa
Tourism Business Management, Bali State Polytechnic, Bali
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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The Impact of Local Culture on Financial Performance in Property Firms in Bali I Putu Astawa; Putu Sudika
APMBA (Asia Pacific Management and Business Application) Vol 3, No 2 (2014)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (723.734 KB) | DOI: 10.21776/ub.apmba.2014.003.02.3

Abstract

The research studies local culture reflected through pray, hard work, honesty, tatwamasi and gotong royong influencing property sales and company assets. Fifty companies are qualified as sample of sixty one property companies actively operated in 2013. Data is collected through questionnaire having tested for its reliability and validity before distributed to those fifty companies. The collected data is analyzed with multiple  regression. Result shows that hard work, honesty, tatwamasi and gotong royong culture that well implemented are able to improve property sale and assets ownership. Result of the study has implication that in order to improve financial performance, local culture should be included as variable in performance measurement. Result of the study gives contribution to Schein’s organizational culture (2004) that colored with local culture; therefore, values believed in an organization are able to improve performance.
Co-Authors Putu Sudika