http://amar.fekon.unand.ac.id/index.php/amar Andalas Management Review (AMAR) is published twice a year by The Management Institute, Faculty of Economics, Andalas University Institute of Management (Lembaga Manajemen), Faculty of Economics, Andalas University en-US Andalas Management Review 2476-9282 http://amar.fekon.unand.ac.id/index.php/amar/article/view/3 This study aims to find the explanation of positive stock return on average in cross-sectional cum-dividend and ex-dividend date, which may give profit opportunity for arbitrageur. The empirical model based on Sharpe (1964) CAPM theory and Fama and French (1992) model is tested with additional variables of dividend yield, trading volume, and idiosyncratic risk. The strong positive alpha occurs on CAPM and Fama-French empirical model, meanwhile its explanatory power disappear on the final model which involves all variables. Except for the excess market return, other variables have no explanatory power to the excess stock return. It is also found that dividend yield negatively explains the excess capital gain during the ex-date. Edwin Hendra Copyright (c) 2016 Andalas Management Review http://creativecommons.org/licenses/by-sa/4.0 2016-09-19 2016-09-19 1 1 1 16 http://amar.fekon.unand.ac.id/index.php/amar/article/view/4 The research objective is to study the influence of experiential marketing on loyalty and customer satisfaction. The experiential marketing concept contains sense, feel, think, act and relate which became the predictor variable (X), customer satisfaction the intervening variable (Z), and loyalty variable the bound variable (Y). In this research, primary and secondary data were used. The primary data were obtained from many sources such as journals, books, magazines, and internet, while the primary data were obtained from questioners. The respondents were both male and female students learning in the English Village Pare, and have taken the course for two months. The number of sample respondents was 140 which were derived in non-random, while the data analysis method used path analysis by operating smart PLS Software. The validity and reliability of the data were examined before they were declared valid and reliable. From the results, it is found that experiential marketing variable influences customer satisfaction in spite of only sense, feel, and think dimensions. The influence is not only stuck on the satisfaction, yet from the satisfaction, there is a positive and significant influence on loyalty. Nuri Purwanto Mardiastutik Mardiastutik Copyright (c) 2016 Andalas Management Review http://creativecommons.org/licenses/by-sa/4.0 2016-09-19 2016-09-19 1 1 17 38 http://amar.fekon.unand.ac.id/index.php/amar/article/view/8 The present study analyzes a case study of a family business companies in Indonesia named PT. Karya Adhi Sejahtera (KAS). This company recently is facing two decision alternatives namely is to choose a medical equipment project bids or is to choose the information system project bids. The problem arises when there is a different view from the chief executive officer (CEO) and the other members of board of directors (BOD) on viewing this two opportunities. While the CEO wanted to concern on the second alternative as a new business, the other members of BOD think that it would be better if the company concern on the first alternative considering their scarcity of resources. The present study examines which alternative is better based on the needs and objectives of the company. The methods used are The Opportunity Wheel and the PrOACT methods. From the two methods above, it is concluded that the best alternative is to concern on the first alternative (medical equipment project bids) rather than the second one. Ami Fitri Utami Copyright (c) 2016 Andalas Management Review http://creativecommons.org/licenses/by-sa/4.0 2016-09-19 2016-09-19 1 1 39 54 http://amar.fekon.unand.ac.id/index.php/amar/article/view/10 A new consumer group, The Student Penny Pinchers, is identified based on the characteristics of the Eat Drink and Be Merry and Frugalist groups. This is the target market of UQ (University of Queensland) Sandwich Bar, a vendor of the new fast food trend ‘Healthy Fast Food’. The consumer behaviour model is used to evaluate the characteristics of the Student Penny Pinchers, specifically their motivation, lifestyle characteristics, reference group influences and decision process. The outcomes of this analysis have implications for UQ Sandwich Bar’s marketing strategy, namely to address The Student Penny Pinchers concerns with price, health and convenience. Dian Rani Yolanda Copyright (c) 2016 Andalas Management Review http://creativecommons.org/licenses/by-sa/4.0 2016-09-19 2016-09-19 1 1 55 70 http://amar.fekon.unand.ac.id/index.php/amar/article/view/9 After prominent and influential paper of upper echelons theory was published, extensive investigation on the effect of top leaders on companies begins. However, long standing research on Top Management Teams (TMTs) has not produced conclusive findings. Meanwhile, the practical significances of TMTs remain in favorable sounding. This study was focusing on conceptual review of previous studies to identify what problems caused the inconsistencies. After reviewing previous findings, three main problems were found. Those problems related to the out of tune treatment of diversity variables, inappropriate theoretical mechanism, and incomprehensiveness of use intervening variables. Further discussion of results was provided in the last part of this paper. Arief Prima Johan Copyright (c) 2016 Andalas Management Review http://creativecommons.org/licenses/by-sa/4.0 2016-09-19 2016-09-19 1 1 71 84 http://amar.fekon.unand.ac.id/index.php/amar/article/view/7 The objective of this study is to examine the impact of intangible assets on organizational performance. Intangible assets explained in this study are knowledge management, intellectual capital and organizational learning capability. This research was conducted at public universities located in West Sumatra. This research includes the survey research using questionnaires as the main data collections tool and a quantitative approach. Data were collected to the public universities’ lecturers and analyzed to test the hypotheses of this study. Method of data analysis in this study uses a statistical model with multiple linear analyses. Intangible assets were measured by using the concept of behavior. Moreover, it was found that knowledge management and intellectual capital significantly related to organizational performance. These results supported the organizational learning capability as moderating variable which influenced the relationship between knowledge management and organizational performance. The model stresses the importance of intangible assets that support the organizational performance at public universities. The results of this study indicate that at public universities in West Sumatra, improvement of intangible assets will lead to higher levels of organizational performance. It is advised for the public universities to obtain high ranking of international rating institutions such as webometrics. The results of this study are expected to provide benefits to all stakeholders who have interest in higher educations especially in intangible assets and performance. Hendra Lukito Copyright (c) 2016 Andalas Management Review http://creativecommons.org/licenses/by-sa/4.0 2016-09-19 2016-09-19 1 1 85 100