2024-03-28T08:44:40Z
https://journal.ugm.ac.id/index/oai
oai:jurnal.ugm.ac.id:article/5352
2017-01-26T07:40:09Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5352
2017-01-26T07:40:09Z
Gadjah Mada International Journal of Business
Vol 16, No 2 (2014): May-August; 93-109
The Impact of Message Framing and Source Credibility on Breastfeeding Intention: A Social Marketing Approach
Hussein, Ananda Sabil; Faculty of Economics and Business, Universitas Brawijaya
Manna, Valerie; Faculty of Agribusiness and Commerce, Lincoln University Canterbury
Cohen, David; Faculty of Agribusiness and Commerce, Lincoln University Canterbury
2014-05-02 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5352
Though highly recommended by health organizations worldwide, breastfeeding an infant from birth for a period of several months is not universal. There is thus a need to investigate appropriate and effective means to promote this breastfeeding behavior. This study, rooted in a social marketing perspective, tests the impact of message framing and source credibility on the behavioral intention to breastfeed. A 2 x 2 factorial experiment was conducted in Indonesia, an especially relevant setting given that the percentage of Indonesian women who breastfeed is low compared to other countries. Two hundred and seventy nine pregnant women participated in this study. The findings of this study indicate that the interaction between message framing and source credibility has a significant effect on a person’s attitude and intention to provide exclusive breastfeeding. In addition, this study finds that attitude is an essential determinant of intention.
oai:jurnal.ugm.ac.id:article/5354
2017-01-26T07:40:09Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5354
2017-01-26T07:40:09Z
Gadjah Mada International Journal of Business
Vol 16, No 2 (2014): May-August; 111-142
The Role of Relational Reward Benefits for Developing the Non-Financial Value of a Customer to an Organization: Structural Equation Modeling Approach
Kristiani, Enny; Graduate School of Management and Business, Bogor Agricultural University (IPB)
Sumarwan, Ujang; Graduate Program of Management and Business-Graduate School-Bogor Agricultural University
Yuliati, Lilik Noor; Graduate School of Management and Business, Bogor Agricultural University
Saefuddin, Asep; Graduate School of Management and Business, Bogor Agricultural University
2014-10-30 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5354
en
Research on the customer value to an organization has been widely explored, yet most studies only determined on the financial value based on the customer’s purchasing behavior. The value of customers beyond their purchasing behavior –defined as the relational worth - has not been commonly captured yet. This non-financial value is one of the drivers in retaining customers, hence it becomes a crucial factor in preserving the profitability of the organization. For this reason, this paper aims to examine the customer non-financial valuations of a loyalty reward program. The scope of the study covered a reward program involving consumer exertions in the context of a Frequent Flyer Program (FFP) offered by an airline in Indonesia. The hypotheses are empirically tested with a sample of FFP members conducted through an online survey (n=475). The data were statistically analyzed using structural equation modeling (SEM) as a first order construct. Results indicate that the perceived social rewards lead to an affective and normative commitment as well as consumers’ satisfaction, while the economic reward did not have an effect on developing affective bonds with members for long-term relationships. The relational benefit offered through the FFP creates affectively and normatively committed members who produce relational behaviors, in terms of WOM, immunity, openness and acquiescence of the members to the airline. Furthermore, the FFP members produced social behaviors toward the airline when they felt satisfied with their relational exchanges.
oai:jurnal.ugm.ac.id:article/5387
2014-11-20T05:07:56Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5387
2014-11-20T05:07:56Z
Gadjah Mada International Journal of Business
Vol 4, No 3 (2002): September-December; 347—359
AN EMPIRICAL EXAMINATION OF THE DIVIDEND INFORMATION CONTENTS IN THE BALANCE SHEET: A Signaling Approach*
Sartono, R. Agus; Faculty of Economics & Business, Universitas Gadjah Mada, Yogyakarta
Sri Asih, Anna Maria; Master of Management, Faculty of Economics & Business, Yogyakarta
2013-09-04 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5387
dividend; balance sheet; signaling; role; clarificatory; Indonesia
This study examines whether the changes in the financial statements and dividends can together provide a better information transmittal system to deliver missing private information on the firm using Indonesian firms as the sample. In doing so, this study consider three components in evaluating the dividend signaling theory: the expected content favorableness, the sign of dividend change, and the role of dividend signal. Thefinding shows that in Indonesia, the market reactions to the dividend announcements depend on the role of dividend signals, whether it is confirmatory, clarificatory, or unclear. The other finding shows that this market is more concern to the content expected favorableness rather than to the dividend sign.
oai:jurnal.ugm.ac.id:article/5388
2014-11-20T05:07:56Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5388
2014-11-20T05:07:56Z
Gadjah Mada International Journal of Business
Vol 4, No 3 (2002): September-December; 373—395
ASSESSING ACCOUNTABILITY OF PERFORMANCE MEASUREMENT SYSTEM AND LOCAL GOVERNMENT BUDGETARY MANAGEMENT
Mardiasmo, Mardiasmo; Faculty of Economics & Business, Universitas Gadjah Mada, Yogyakarta
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5388
Performance measurement system is an assessment tool, which assesses strategy implementation through financial and non-financial measures. Budget is one of the financial measures used to assess strategy implementation. It is a primary instrument of many function of decision, which is used as a tool to achieve organization goals. Public sector management has to fulfill vertical and horizontal accountability. To have a deeper understanding pertains to performance measurement system andlocal government budgetary management, this study assessed the existing performance measurement system and local government budgetary management in six municipal/districts. The result showed that the existing performance measurement system is an improper management tool, and that accountability of local government budgetary management is dominated by vertical accountability rather than horizontal accountability. It issuggested that each municipal/district should have its own revenue indica-tor and saving, increase its cost awareness and health and education sectordevelopment budget, implement New Public Management, and reform itsresponsibility system from vertical accountability to horizontal account-ability.
oai:jurnal.ugm.ac.id:article/5389
2014-11-20T05:07:56Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5389
2014-11-20T05:07:56Z
Gadjah Mada International Journal of Business
Vol 4, No 3 (2002): September-December; 297-313
DOES SIZE MATTER?: Technical Efficiency and Industry Size in Indonesia
Richard V. Llewelyn, Richard V.; Petra Christian University, Surabaya
Sutrisno, Wang; Petra Christian University, Surabaya
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5389
firm size; manufacturing sector; non-parametric; technical efficiency
The debate over which size industry is best suited for Indonesiacontinues with proponents of both large and small sizes pointing out the benefits of each. However, little empirical analysis has been done regarding economic matters such as technical efficiency. Nonparametric analysis of technical efficiency for three sizes of firms in seven manufacturing sectors is estimated using linear programming techniques. Aggregated input and output data from BPS from 1991 to 1997 are used.Household size firms are found to be most efficient relative to the other sizes for five of the seven sectors analyzed. Large firms are relatively more efficient in ‘Food, Beverage, and Tobacco’ sector. Small companies are relatively less efficient than household firms in all but one case, but relatively more efficient than large firms in five of seven sectors. The results validate and perhaps explain the duel economy in Indonesia with both large and small firms existing in the same industry.When each sector is analyzed for each firm size, the ‘Non-MetallicMineral Products Other Than Petroleum and Coal’ sector is most efficient for all sizes of firms. The least efficient sector is the ‘Chemical and Plastics’ industry.The results suggest that government policy should be focused oncreating a stable environment for business, which promotes growth of efficient businesses, either large or small. Specific policies and intervention for small business development are not necessary, given the relative efficiency of small firms in Indonesia.
oai:jurnal.ugm.ac.id:article/5390
2014-11-20T05:07:56Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5390
2014-11-20T05:07:56Z
Gadjah Mada International Journal of Business
Vol 4, No 3 (2002): September-December; 327—346
REAL STOCK RETURNS, INFLATIONARY TRENDS AND REAL ACTIVITY: Evidence from Malaysia
Majid, M. Shabri Abdul; International Islamic University Malaysia (IIUM)
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5390
ARIMA; Fama’s (1981) proxy effect; Fisher hypothesis; inflationary trends; Philips curve; real stock returns
This study explores the relationship between real stock returns and inflationary trends in the Malaysian economy. It attempts to test for the relationship between real stock return and inflation in light of Fisher hypothesis that asserts the independence of real stock return and inflation and Fama’s (1981) proxy effect framework which states that the negative real stock returns-inflation is indirectly explained by a negative real economic activity-inflation and a positive real stock returns-real economicactivity relationships. The finding shows that real stock returns are independent of inflationary trends in accordance with the Fisher hypothesis, which implies that the Malaysian stock market provides a good hedge against inflation. The Fama’s proxy hypothesis is then tested to check for the consistency of the relationships. The positive relationship between inflation and real economic activity and the positive relationship betweenreal stock returns and real economic activity that totally contradicts the Fama’s proxy hypothesis however are found, to some extent, be consistent with the explanation of conventional macroeconomic theories of the Philip’s curve.
oai:jurnal.ugm.ac.id:article/5391
2014-11-20T05:07:56Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5391
2014-11-20T05:07:56Z
Gadjah Mada International Journal of Business
Vol 4, No 3 (2002): September-December; 361—371
SIZE EFFECT AND STOCK BEHAVIOR DURING THE EXPANSION AND CONTRACTION PHASES OF ECONOMIC CYCLE: An Empirical Evidence from Indonesian Stock Market
Asri, Marwan
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5391
Banz (1981) and Reiganum (1981) claim that, in terms of returncreation, small firms tend to perform better than large firms. They implicitly claim that the phenomena (which is known as size effect) is stable and exists over the period of examination. This study intends to investigate the existence of size effect in Indonesian market and more specifically, to test whether stages of economic cycle (expansion and contraction stages) determine the existence of the effect. The results of the study show that size effect does exist in the market for the whole period of observation (1991-2001). However, when the period is divided into two parts according to the stage of economic cycle, the statistical analysis results are not supportive to the conclusion about the size effect.
oai:jurnal.ugm.ac.id:article/5392
2014-11-20T05:09:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5392
2014-11-20T05:09:47Z
Gadjah Mada International Journal of Business
Vol 5, No 1 (2003): January-April; 79-95
DETERMINANTS OF ENTREPRENEURIAL INTENTION: The Case of Norwegian Students
Indarti, Nurul; Faculty of Economics & Business, Universitas Gadjah Mada, Yogyakarta
Krinstiansen, Stein; Development Studies
Programme in the Department of Economics at Agder University College
2003-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5392
instrumental readiness; entrepreneurial intentions; entrepreneurship; locus of control; need for achievement; self-efficiency
This paper aims to identify determinants of entrepreneurial intentions among young people. The empirical basis is Norwegian students, while an objective is also to create a basis for comparative studies among different economic and cultural contexts. Independent variables in the study include demographic factors and individual background, personality traits, and contextual elements like access to capital and information. The individual perceptions of self-efficacy and instrumental readiness are the variables that affect entrepreneurial intentions most significantly. Age, gender and educational background have no statistically significant impact. Generally, the level of the entrepreneurial intentions among Norwegian students is relatively low, which may be explained by social status and economic remuneration of entrepreneurs compared with employees in the Norwegian context.
oai:jurnal.ugm.ac.id:article/5393
2014-11-20T05:09:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5393
2014-11-20T05:09:47Z
Gadjah Mada International Journal of Business
Vol 5, No 1 (2003): January-April; 33-56
FACTORS AFFECTING EFFECTIVENESS OF CHANGE INITIATIVES: Evidence from Malaysian Firms
Ismail, Mohd Nazzari; Faculty of Business and Accounting,
University of Malaya
Ahmad, Shreen; Malaysian Communications & Multimedia Commission
2003-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5393
leadership style; managing change; management support; organization vision; successful change outcomes
This paper investigates various system models and change guidelines that deal with the dynamics of successful change. It seeks to find out whether Malaysian organizations which have achieved successful change outcomes would have also managed the change process in accordance to the general guidelines derived from the literature on effective management of change. Primary data for this study was obtained by conducting a mailed questionnaire survey among executives and managers of seventeen Malaysian organizations. The main method of analysis is by looking at the correlation between an organization’s scores on the relevant items in the change process scales and the organization’s perceived effectiveness of change, as measured by the organization’s change effectiveness scores.The general finding confirms and reinforces the literature on effective change management. It was found that organizations that were perceived by staff to have achieved successful change outcomes, were also perceived to have managed the change processes well in accordance to general principles derived from research on organizational change.
oai:jurnal.ugm.ac.id:article/5394
2014-11-20T05:09:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5394
2014-11-20T05:09:47Z
Gadjah Mada International Journal of Business
Vol 5, No 1 (2003): January-April; 1-14
NORMATIVE MODERATORS OF IMPULSE BUYING BEHAVIOR
Negara, Danes Jaya; University of Palangkaraya, Kalimantan Tengah
Dharmmesta, Basu Swastha; Faculty of Economics & Business, Universitas Gadjah Mada, Yogyakarta
2003-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5394
buying impulsiveness; impulse buying; normative evaluations
Prior research has presented the moderating role of normative evaluations in the relationship between the impulsive buying trait and consumers’ buying behaviors. In this article the authors show that consumer tendency to buy something spontaneous, unreflectively and immediately can be perceived as a factor which describes buying impulsiveness. This article also shows conceptual and empirical evidence that there is some support for the moderating role of normative evaluations in the relationship between buying impulsiveness and impulse buying behaviors. Significance occurs when consumers believe that act on impulse is suitable. The result suggests that consumers’ normative evaluation can moderate the link between the trait and behavioral aspects of impulse buying.
oai:jurnal.ugm.ac.id:article/5395
2014-11-20T05:09:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5395
2014-11-20T05:09:47Z
Gadjah Mada International Journal of Business
Vol 5, No 1 (2003): January-April; 97-107
PERCEPTIONS OF HUMAN RESOURCES MANAGERS ON TELECOMMUTING CONCEPT: Implementation in Malaysian Firms
Karia, Noorliza; School of Management, Universiti Sains Malaysia, Penang
Zainuddin, Yuserrie; School of Management, University of Science Malaysia
Abu Hassan Asaari, Muhammad Hasmi; Universiti Sains Malaysia, Penang
2003-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5395
quality of work life; telecommuting; telework; telecommuting
Telecommuting concept has been a new phenomenon for most ofMalaysian firms, especially for human resource managers. Further, the drive towards promoting the telecommuting concept need to be done as part of paradigm change as Malaysia is becoming an industrialized nation–Vision 2020 of the Prime Minister. This study was conducted on the Malaysian human resource managers in representing their firm’s stand on the telecommuting concept. The purpose of this paper is to explore the level of acceptance of the telecommuting concept by the human resource managers. It was discovered that high percentage of the human resource managers shown their concern on the acceptance of the telecommutingconcept.
oai:jurnal.ugm.ac.id:article/5396
2014-11-20T05:09:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5396
2014-11-20T05:09:47Z
Gadjah Mada International Journal of Business
Vol 5, No 1 (2003): January-April; 15-32
PROMOTING INTRA-FIRM TRANSFER OF KNOWLEDGE THROUGH COMPETITION AND SHARING A Field Study
Jermias, Johnny; Faculty of Business
Administration, Simon Fraser University, Burnaby, British Columbia
2013-09-03 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5396
This paper examines three main concerns about intra-firm transfer on knowledge in the management accounting and strategic management literature: the ability of real-world organizations to learn productively, the levels of aggregation in which the productive learning occurs, and the types of management interventions that are both desirable and productive. Based on a field study conducted in several business units of a multinational corporation, this paper reports how management makes conscious andsystematic efforts to transform ideas from the best practice within the company as well as from its competitors.The company uses Management By Olympic Systems to accelerate learning through competition and sharing. The system utilizes Olympic principles and integrates individual and team concepts to achieve the Olympic targets. A broad range of Olympic targets in terms of financial and non-financial linked to the company’s incentive systems is used to improve business operations, to motivate managers and employees, and to meet stakeholders’ expectations.
oai:jurnal.ugm.ac.id:article/5397
2014-11-20T05:09:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5397
2014-11-20T05:09:47Z
Gadjah Mada International Journal of Business
Vol 5, No 1 (2003): January-April; 57-77
TAX COSTS AND CORPORATION DIVIDEND POLICY: Evidence from the 1986 U.S. Tax Reform Acts
Utama, Siddharta; Faculty of Economics and Master
of Management Program, Indonesia University
2003-02-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5397
dividend policy; organizational form; tax cost; tax reform act
Scholes and Wolfson (1992) predict that following the 1986 TaxReform Act, the tax cost of the corporate form relative to that of the partnership form (the incremental tax cost) increased significantly. This study hypothesizes that since dividends represent a tax disadvantaged form of income relative to capital gains, then in response to an increase in incremental tax costs, corporations would decrease their dividend payout ratios. The response is expected to be stronger for corporations owned byshareholders with long investment horizons because the tax cost saved from decreasing dividend payout ratios is an increasing function of shareholders’ investment horizon. The empirical tests support the hypothesis and show a negative relationship between the change in incremental tax costs and the change in dividend payout ratios for firms with long average investment horizons.
oai:jurnal.ugm.ac.id:article/5398
2014-11-20T05:09:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5398
2014-11-20T05:09:47Z
Gadjah Mada International Journal of Business
Vol 5, No 1 (2003): January-April; 109-128
WHAT A FIRM TAKES TO COMPETE IN CONDITIONS OF ECONOMIC ADVERSITY
Sseyonga, Muyanja; Mbale University
2003-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5398
core competence; economic distress; globalization; knowledge; outsourcing
This article attempts to identify the key factors that underpin thesuccess of firms in conditions of economic distress. Such factors encompass astute management with the skill and experience in a variety of competitive moves and maneuvers; adoption of low-cost -low price strategies; more use of scenario planning rather than mere replication of past company actions; sufficient liquidity to exploit opportunities availed by economic downturn;and exploiting the advantages of knowledge management. Better incorporation of information technology, proper use of currency risk management methods, smart globalization that incorporates both government and non-government elements, favors the formation of joint ventures with local businessmen, and investment of ample time in the understanding the customs, values, and traditions of local societies elevate company’s com-petitive advantages over rivals which enhances the company’s capacity to deal with economic distress. It is incontrovertible, however, that the success of firms must be backed by strong and appropriate macroeconomic management by governments with respect to fiscal, monetary and trade policies.
oai:jurnal.ugm.ac.id:article/5399
2014-11-20T05:19:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5399
2014-11-20T05:19:37Z
Gadjah Mada International Journal of Business
Vol 15, No 1 (2013): January - April; 27 - 44
Detecting the Existence of Herding Behavior in Intraday Data: Evidence from the Indonesia Stock Exchange
Setiyono, Setiyono; Faculty Economics and Business, Universitas Gadjah Mada, Indonesia
Tandelilin, Eduardus; Faculty Economics and Business, Universitas Gadjah Mada, Indonesia
Hartono, Jogiyanto; Faculty Economics and Business, Universitas Gadjah Mada, Indonesia
Hanafi, Mamduh M.; Faculty Economics and Business, Universitas Gadjah Mada, Indonesia
2013-03-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5399
Finance
destabilize; herd behavior; stock market price
This study attempts to investigate the issue of the existence of institutional herding in the stock market. The existence is detected in the intraday trade data from the Indonesia Stock Exchange (IDX) during up, down, and stable market condition over the period 2003-2005. By using the model of Lakonishok et al. (1992), it is found that the intensity of the existence of institutional herding at the IDX, on average, is 8.4 percent. Institutional investors do not seem to lead their transactions ina certain characteristic of stock. Most of them follow positive-feedback trading strategy while others follow negative-feedback trading strategy. This study also found that the existence of herd behavior at the IDX did not destabilize the market price in a subsequent period.
oai:jurnal.ugm.ac.id:article/5400
2014-11-20T05:19:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5400
2014-11-20T05:19:37Z
Gadjah Mada International Journal of Business
Vol 15, No 1 (2013): January - April; 45 - 60
Explaining IT Outsourcing Satisfaction using Domberger’s Theory: An SME Perspective
Yap, Ching-Seng; Graduate School of Business, Universiti Tun Abdul Razak
Lim, Yet-Mee; Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman
Lee, Teck-Heang; Department of Business Studies, Help University
2013-03-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5400
customer satisfaction; Domberger’s Theory; Malaysia; IT outsourcing; SMEs
IT outsourcing has emerged as an important tool for enabling organizations to gain access to specific skills and services, focus on their core competencies, and reduce the cost of IT service provision. With the increasing number of IT outsourcing failures, it is timely to identify the determinants of IT outsourcing satisfaction. This study investigates the types of IT function outsourced and examines the factors influencing customer satisfaction in IT outsourcing in Malaysian small- and medium-enterprises. Using an email questionnaire survey, data are collected from 100 firms listed on the Directory of Small and Medium Enterprises in Malaysia. Drawing from Domberger’s Theory of the Contracting Organization, four hypotheses are developed and tested in this study. Using the PLS path modelling technique, the findings show that focus on core competency, cost reduction, access to IT expertise and skills, and flexibility are positively related to customer satisfaction in IT outsourcing. The paper includes implications and recommendations for future studies.
oai:jurnal.ugm.ac.id:article/5401
2014-11-20T05:19:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5401
2014-11-20T05:19:37Z
Gadjah Mada International Journal of Business
Vol 15, No 1 (2013): January - April; 1 - 26
Identification and Risk Management In The Expenditure Process: Risks Leading to Deadline Slippage and Costs, and Building Projects
Challal, Abdelhak; Studies and Research Laboratory in Applied Mathematics (LERMA)
Mohammed V University- Mohammadia School of Engineering Rabat, Agdal Morocco
Tkiouat, Mohamed; Studies and Research Laboratory in Applied Mathematics (LERMA)
Mohammed V University- Mohammadia School of Engineering Rabat, Agdal Morocco
2013-03-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5401
action; delay; indicator; mapping; measure; risk
The objective of this research is the design of a mapping of risks which are mainly related to the processes of expenditure. The research also serves to identify the actions and the necessary measures to control risks and the delays of completing a construction project. The literature from the last two decades related to this field was examined. A quantitative analysis of risks in the expense process of building projects sample representing various regions of Morocco allows identifying the risks and ranking them by determining their occurrences and impacts. Eight major risks, 43 measures, 52 actions and 10 performance indicators are linked to these risks have been identified.
oai:jurnal.ugm.ac.id:article/5402
2014-11-20T05:19:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5402
2014-11-20T05:19:37Z
Gadjah Mada International Journal of Business
Vol 15, No 1 (2013): January - April; 61 - 77
Knowledge Sharing, Absorptive Capacity and Innovation Capabilities: An Empirical Study on Small and Medium Enterprises in North Sulawesi, Indonesia
Wuryaningrat, Nikolas Fajar; Faculty of Economy Manado State University, Indonesia
2013-03-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5402
absorptive capacity; innovation capability; knowledge donating; knowledge collecting; knowledge sharing
The capability of a firm to instill innovation depends on its knowledge resources. This capability can be utilized by facilitating knowledge sharing and absorptive capacity in the context of small and medium enterprises. The purpose of this research is to examine how knowledge sharing can be transformed into innovation capabilities. Research suggests that knowledge sharing will first influence absorptive capacity before knowledge can be transformed to innovation capabilities. This research was conducted in North Sulawesi which has excellent economic growth by involving small and medium enterprises. The results show that knowledge donating and knowledge collecting positively influence SME’s innovation capabilities if absorptive capacity is also developed. In other words, the result of the research gives us empirical evidence that new knowledge created from knowledge sharing can be transformed into innovation capabilities if it is supported by higher absorptive capacity.
oai:jurnal.ugm.ac.id:article/5403
2014-11-20T05:19:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5403
2014-11-20T05:19:37Z
Gadjah Mada International Journal of Business
Vol 15, No 1 (2013): January - April; 79 - 94
Phenomoenology Study on Financial Performance and Management Accountability of Special Autonomy Funds Allocated for Education at the Province of Papua, Indonesia
Agustinus, John; School of Economics Jayapura Port Numbay, Jayapura, Indonesia
2013-03-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5403
accountability; finance; special autonomy
Special autonomy in education is regarded as a great blessing for the Papua people. They have high expectation that Special autonomy funds allocated for education will elevate their living quality including school provisions and living standard. The population of the research, however, perceived that such wishes and expectations did not match with the reality. It is assumed that there had been mismanagement of the funds. The study is aimed at reviewing special autonomy financial performance and its management accountability. The study is performed through a qualitative approach with a phenomenological strategy— a study which is conducted at particular setting in a real live (natural setting) to investigate and understand phenomena. The data were collected from government employee, NGO officers, the target population, and other resources by observation, in-depth interviews, and library reviews. The results show that local government officials lack of capacity in handling the funds and there had been poor budget management as indicated from four management functions —planning, executing, reporting, and monitoring of educational funds— which were not implemented appropriately. A concept as a set of law and regulation that shapes Special Autonomy fund management of Papua Province is needed. Therefore, an integrated mechanism of building compliance and control system of educational funds management is necessary to reach the Value for Money (effectiveness, efficiency, and economics) of education budget. It is recommended that knowledge building and understanding on the financial performance as mandated in Special Autonomy Article will strengthen the achievement of the target as stated in the vision, mission, and objectives which supported by a construct culture of transparency, frankness, accuracy, and accountability.
oai:jurnal.ugm.ac.id:article/5404
2014-11-20T05:23:22Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5404
2014-11-20T05:23:22Z
Gadjah Mada International Journal of Business
Vol 5, No 2 (2003): May-August; 145-166
A MECHANISM AND DETERMINANTS OF AN AGENCY-COST EXPLANATION FOR DIVIDEND PAYMENTS
Hartono, Jogiyanto; Faculty of Economics & Business, Universitas Gadjah mada
Ratnaningsih, Dewi; Faculty of Economics, University of Atmajaya, Yogyakarta
2003-06-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5404
agency-cost; agency theory; dividend puzzle; dividend mechanism; instrumental variable; investment opportunity set; shareholders; wealth
This study explains the dividend puzzle using the agency-cost frame work suggested by Easterbrook (1984). Easterbrook hypothesized that shareholders in firms, who increase cash dividend payout and ‘simultaneously' raise debts to finance their investments are likely to be wealthier than those in firms who only increase their cash dividend payout. He provided the mechanism that shareholders use the dividend payments to force managers to go to the capital markets to raise funds. Therefore, he argued that dividend policy influences the financing policy. A system of simultaneous equation using three-stage generalized least square method is used to test the hypotheses. Among the variables to proxy the investment opportunity set, market-to-book ratio, market-to-book assets ratio and accounting earnings-per-share-to-price ratio are the best proxies. Attempt is made to obtain better proxies for the investment opportunity set using an instrument variable method. The system is robust to alternate investment opportunity variables as well as to the instrumental variables. The findings are as follows. For the firms that increase cash dividend payout and raise debt simultaneously, (a) dividend policy is not a shareholders' mechanism, but a manager's accounting-based decision with accounting earnings and retained earnings as the major determinants, (b) dividend policy influences financing policy, but not the other way around, (c) increasing dividend payment decreases shareholders' wealth, but increasing debt subsequently increases shareholders' wealth with a net effect positive to shareholders' wealth, and (d) dividend policy is independent from investment policy.
oai:jurnal.ugm.ac.id:article/5405
2014-11-20T05:23:22Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5405
2014-11-20T05:23:22Z
Gadjah Mada International Journal of Business
Vol 5, No 2 (2003): May-August; 249-269
CAN ACCOUNTING INFORMATION ACT AS A PROXY FOR EX ANTE UNCERTAINTY IN INITIAL PUBLIC OFFERINGS?
Gumanti, Tatang Ary
2003-06-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5405
accounting information; ex-ante uncertainty; initial public offering (IPO), under pricing
This paper reviews and summarizes previous works and the rationale for the proposition that accounting information is in fact value relevant in the determination of an initial public offering IPO).Theoretical and empirical evidence has indicated that certain accounting measures can he used as proxies for total firm risk, that is, they could determine the riskiness of a corporation. The literature also advocates that accounting information is relevant in determining the value and thus the riskiness of a corporation through the use of accounting analysis. Since most of the information available in the prospectus is accounting information, it is arguable that this information represents a potential source for assessing the issuing firm. Some scholars have also advocated the possibility of using accounting information in assessing the value of firm making an IPO. Numerous papers have provided analytical and empirical evidence of the association between accounting numbers and the value of IPOs. The conclusion generally comes to show that information in the prospectus is value relevant concerning the IPO. The paper shows that it is indeed an arguable to use accounting information in the valuation of an IPO. Accordingly, it is an empirical issue whether accounting information has the property in explaining the ex-ante uncertainty of an IPO.
oai:jurnal.ugm.ac.id:article/5406
2014-11-20T05:23:22Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5406
2014-11-20T05:23:22Z
Gadjah Mada International Journal of Business
Vol 5, No 2 (2003): May-August; 131-144
FROM ACTION LEARNING TOTHETEACHING ORGANIZATION: An Experiential Approach
Pawitra, Teddy; Prasetiya Mulya Business School
Chan, K. C.; Chatered Institute of Marketing
2003-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5406
This paper expounds action learning for effective change leadership development using the learning-teaching helix as a paradigm for individual’s introspection. Which consists of five phases—Awareness phase (as certain your strengths and weaknesses). Alignment phase (identify your core competence). Action phase (synthesize your work, business and management skills), Adoption phase (becoming a leader) and Assurance phase (excel as an educator cum coach). In addition, to succeed, the individual has to plan, strategize, prioritize and integrate. As a holistic manager the individual needs to think, feel and do to evolve from continuous action learning to the cycle of teaching for continuous innovation in organizational performance capabilities.
oai:jurnal.ugm.ac.id:article/5407
2014-11-20T05:23:22Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5407
2014-11-20T05:23:22Z
Gadjah Mada International Journal of Business
Vol 5, No 2 (2003): May-August; 207-219
SERVICE QUALITY: Understanding customer Perception and Reaction, and Its Impact on Business
Ndubisi, Nelson Oly; Entrepreneurial Marketing at the Griffith Business School, Queensland Australia
2003-06-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5407
commensalism; customer perception and reaction; mutualism; parasitism; service quality; symbiosis
This paper is an attempt to explain the process and outcomes of customer services levels and how they shape customer perceptions (of their relationship with services providers) and reactions. As an entirely conceptual work, this paper proposes a model for understanding the pathway and the end of good and bad customer service. Implications of the study on theory and practice are discussed.
oai:jurnal.ugm.ac.id:article/5408
2014-11-20T05:23:22Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5408
2014-11-20T05:23:22Z
Gadjah Mada International Journal of Business
Vol 5, No 2 (2003): May-August; 189-206
The Consumption Paradigm in Marketing
Ardianto, Eka; Prasetiya Mulya Graduate School of Management, Jakarta
2003-08-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5408
consumption; paradigm; marketing
This article elaborates consumption paradigm in marketing. In background, this paper reviews different perspectives of consumption: economic perspective and marketing perspective. In ontology, this work describes various issues regarding consumption view. In epistemology, this article demonstrates how marketers especially researches explore the consumption phenomena. In methodology, the article describes experiential marketing –one of applied consumption paradigm in marketing, which could be an alternative choice of marketing practices.
oai:jurnal.ugm.ac.id:article/5409
2014-11-20T05:23:22Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5409
2014-11-20T05:23:22Z
Gadjah Mada International Journal of Business
Vol 5, No 2 (2003): May-August; 167-188
THE RELATIONSHIPS BETWEEN SUPPLIER PARTNERSHIP, ENVIRONMENTAL VARIABLES ANDFIRM PERFORMANCE IN RETAIL INDUSTRY
Soehadi, Agus W.; Prasetiya Mulya Business School of Management, Jakarta
2003-08-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5409
environmental variables; firm performance; retail industry; suppliers partnership
Partnership with suppliers is becoming a critical activity in retail industry to strengthen their competitive position. However, evidence suggested that partnership efforts do not reach their potential due to the effect of external factors. This article presents a comprehensive model that depicts the links among the supplier partnership, environmental variables and firm performance. Data for testing the model were collected by sending a questionnaire to a sample of retail industry in Indonesia. Hypothesized links depicted in the research model were tested using structural equation modeling. The findings show that supplier partnership affects positively firm performance in general term as well as across components of performance measurement. The empirical results suggest that the effect of environmental variables on supplier partnership is: market turbulence has a positive effect, competitive intensity and demand volatility have a negative effect.
oai:jurnal.ugm.ac.id:article/5410
2014-11-20T05:23:22Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5410
2014-11-20T05:23:22Z
Gadjah Mada International Journal of Business
Vol 5, No 2 (2003): May-August; 221-247
WHY MANUFACTURING INDUSTRY PERSISTED TO CLUSTER SPATIALLY IN JAVA?
Kuncoro, Mudrajad; Faculty of Economics & Business, Universitas Gadjah Mada, Yogyakarta
2003-06-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5410
agglomeration; concentration; NTT; NCT; NEG
This paper attempts to examine which theory is best in explaining the geographic concentration in Java, an island in which most of the Indonesia’s large and medium manufacturing industries have located overwhelmingly. Using the regional specialization index as a measure of geographic concentration of manufacturing industry and pooling data over the period 1991-J996, our econometric analysis integrates the perspectives of industry, region (space), and time. The most striking result is that most of the NCT (Neo-Classical Theory) hypotheses can be rejected. Moreover, most of the findings support the NTT (New Trade Theory) and NEG (New Economic Geography). Our findings suggest that manufacturing firms in Java seek to locate in more populous and densely populated areas to enjoy both localization economies and urbanization economies, as shown by the significance of scale economies and income per capita. The interplay of agglomeration economies is intensified by the imperfect competition of Java's market structure. This paper gives empirical evidence with respect to path dependency hypotheses. This finding supports the NEG's belief that history matters: older firms tend to enhance regional specialization. In addition, the results, as shown by statistical significance of its regional dummy, suggest that most of the specialized industries in Java have better access to infrastructure.
oai:jurnal.ugm.ac.id:article/5434
2014-11-25T02:05:13Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5434
2014-11-25T02:05:13Z
Gadjah Mada International Journal of Business
Vol 14, No 1 (2012): January - April; 35 - 59
Developing a Seasonal Cash Demand Simulation for Agricultural Cooperatives (Village Unit Cooperative) in Indonesia
Santoso, Budi; Program Magister Manajemen, Universitas Mataram, Indonesia
2012-01-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5434
Irrespective of the success of the Indonesian Government to achieve self-sufficiency of rice in 1985, and the rice price stabilization, paddy growers still suffer from a very low price for their produce. Koperasi Unit Desa (KUDs) –in Indonesian, or Village Unit Cooperative (VUC) have been entrusted with the marketing of rice paddies although their performance has always been less than satisfactory. One problem experienced by the KUDs is not having sufficient cash to purchase and process paddies into rice. The purpose of this study is to develop and validate a simulation model to represent cash flows during one paddy plantation season for a KUD (VUC). The simulation model is a decision support tool that enables a KUD’s (VUC) management to determine the maximum quantity of paddies to be purchased; the minimum borrowing and additional borrowing; and the earnings before taxes. An investigator- administrated questionnaire was used to collect historical data of the twenty randomly selected KUDs (VUC) on Lombok Island to validate the sub-models of the simulation model. The Kolmogorov- Smirnov Goodness of Fit (two-sample), linear regression, correlation and t- tests were used to validate the simulation model. The validation results have shown that the sub-models of the simulation model are valid, and these may contribute to the valid results of the simulation model. This study has found that the limitations of the paddy storage building, drying floor, and milling machine owned by the KUDs (VUC) may restrict the KUDs (VUC) from buying the entire paddies harvested. Therefore, further research is needed to find out the minimum capacities of those facilities enabling the KUDs (VUC) to work efficiently.Keywords: agricultural cooperatives (Village Unit Cooperative); seasonal demands; cash flows; simulation; validation
oai:jurnal.ugm.ac.id:article/5435
2014-11-25T02:05:13Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5435
2014-11-25T02:05:13Z
Gadjah Mada International Journal of Business
Vol 14, No 1 (2012): January - April; 1 - 16
Does Environmental Uncertainty Affect Entrepreneurs’ Orientation and Performance? Empirical Evidence from Indonesian SMEs
Herani, Rina; Faculty of Economics and Business, Universitas Gadjah Mada, Indonesia
Andersen, Otto; University of Agder (UiA), Norway
2012-01-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5435
business performance; entrepreneurial orientation; environmental uncertainty
Small and medium enterprises (SMEs) have a critical role in economic growth in Indonesia and become the backbone for job creation, poverty alleviation, and safeguard during the crisis. However, they are highly exposed to uncertain environments. The present study aimed to investigate the influence of SMEs’ entrepreneurial orientation on business performance when uncertain environments exist. A total of 152 Indonesian SMEs were studied in order to assess this relationship. Moderated regression analysis is performed as the main statistical procedures to analyse the moderating role of environmental uncertainty on the influence of entrepreneurial orientation on business performance. Surprisingly, the result of the present study did not confirm the previous predominant studies which found that entrepreneurialorientation dimensions are positively associated with business performance in growing in an uncertain environment. Indonesian entrepreneurs were reluctant to innovate, be proactive, and take risks when an uncertain environment exists. The present study was an endeavour to provide better insight in explaining the inconsistent and ambiguous findings from existing literature.
oai:jurnal.ugm.ac.id:article/5436
2014-11-25T02:05:13Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5436
2014-11-25T02:05:13Z
Gadjah Mada International Journal of Business
Vol 14, No 1 (2012): January - April; 17 - 33
Does Knowledge Stickiness Affect a Firm’s Innovation Capability? Empirical Evidence From Indonesian Furniture SMEs
Indarti, Nurul; Faculty of Economics and Business, Universitas Gadjah Mada
2012-01-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5436
Knowledge Management
furniture SMEs; Indonesia; innovation capabilities; knowledge stickiness
This study aims to examine the relationship between knowledge stickiness and a firm’s innovation capability in the context of developing countries, i.e., Indonesia. The main research question addressed by this study is: does knowledge stickiness affect a firm’s innovation capability? Using data from 100 small- and medium-sized furniture enterprises (SMEs), the study finds that product innovations are predominant over process and organizational ones. However, incremental innovations are often more preferred than radical ones. This study also finds that the firms absorb knowledge from various sources to undertake innovations. Buyers, Internet, and suppliers are the significant sources, for sensory, coded, and theoretical knowledge. Buyers are also the main source of a great extent of various knowledge domains related to product, process, and organizational innovations. In general, the furniture firms do not pay considerable attention to planning stages when introducing innovations, as indicated by the fact that not all innovations are preceded by initiatives, except for really new processes and organizational innovations whose impact on the firms’ revenue is less visible. Out of four dimensions of knowledge stickiness used in this study, three of them (i.e., knowledge interconnectedness, sensory knowledge, and coded knowledge) are proven to have significant impact on a firm’s innovation capability. We find, knowledge interconnectedness and coded knowledge have a positive impact, while sensory knowledge influences a firm’s innovation capability in a negative direction. All in all, this study provides empirical evidence that knowledge stickiness has a significant impact on a firm’s innovation capability (explains 36% of total variance).
oai:jurnal.ugm.ac.id:article/5437
2014-11-25T02:05:13Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5437
2014-11-25T02:05:13Z
Gadjah Mada International Journal of Business
Vol 14, No 1 (2012): January - April; 61 - 75
Is Earnings Management Informational or Opportunistic? Evidence from ASEAN Countries
Wardani, Dewi Kusuma; Universitas Sarjanawiyata Tamansiswa, Indonesia
Kusuma, Indra Wijaya; Faculty of Economics and Business, Universitas Gadjah Mada, Indonesia
2012-01-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5437
This study explores the informational and opportunistic characteristics of earnings management in ASEAN countries. Earnings management has an impact on the profitability of the companies. A positive relation between earnings management and future profitability reveals that earnings management is informational. However, negative a relation between earnings management and future profitability indicates that earnings management is opportunistic. This study uses data from the OSIRIS database. Four hundred and eighty five (485) companies from the Philippines, Indonesia, Malaysia, Singapore, and Thailand are used as a sample. This study focuses on 2 types of earnings management: (1) accrual earnings management and (2) real earning management. Modified Jones model is used for the accrual earnings management. Real earnings management follows Roychowdury (2006). The results show that the characteristics of earnings management are not consistent. Real earnings management is informational in Thailand, but opportunistic in Indonesia. Accruals earnings management is informational in the Philippines, but opportunistic in Malaysia. Country factors such as culture may explain the inconsistency of the results in ASEAN.Keywords: accruals earnings management; ASEAN countries; future profitability; informational; opportunistic; real earnings management
oai:jurnal.ugm.ac.id:article/5438
2014-11-25T02:05:13Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5438
2014-11-25T02:05:13Z
Gadjah Mada International Journal of Business
Vol 14, No 1 (2012): January - April; 77 - 96
The Link of Abnormal Accrual Mispricing and Value- Glamour Stock Anomaly: Evidence from the Indonesian Capital Market
Ekawati, Erni; Universitas Kristen Duta Wacana, Indonesia
2012-01-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5438
The purpose of this study is to investigate whether abnormal accrual mispricing acknowledged in accounting literature is a manifestation of documented value-glamour anomaly in finance literature. This study proposes the traditional value-glamour proxies (sales growth, book-to-market, earningprice, cash flows-price, and size) and CFO/P ratio (ratio of operating cash flows and stock price) to explain the mispricing of abnormal accruals. Using a sample of 540 firm-year observations of companies listed on the Jakarta Stock Exchange (JSE) from the period of 1993 to 2003, the study finds that individually, only either the E/P or CFO/P ratio can pick up the mispricing attributed to abnormal accruals. These results can be interpreted as follows: (1) as captured by E/P ratio, abnormal accrual mispricing is due to the market’s inability to understand managers’ attempts to manage reported earnings; (2) as captured by the CFO/P, the market is unable to assess the persistence of cash flows. From a practical standpoint, this study has simplified the research agenda related to asset pricing. The result suggests that a researcher can control for the abnormal accrual mispricing and the value-glamour anomaly parsimoniously via just one variable, E/P ratio.Keywords: business performance; entrepreneurial orientation; environmental uncertainty
oai:jurnal.ugm.ac.id:article/5439
2014-11-25T02:05:47Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5439
2014-11-25T02:05:47Z
Gadjah Mada International Journal of Business
Vol 14, No 2 (2012): May - August; 183 - 208
A Comparative Analysis of the Productivity of Islamic and Conventional Mutual Funds in Indonesia: Data Envelopment Analysis (DEA) and General Least Square (GLS) Approaches
Abd. Majid, M. Shabri; Syiah Kuala University, Banda Aceh, Indonesia
Maulana, Hartomi; Islamic Economic Forum for Indonesian Development (ISEFID), Malaysia
2012-05-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5439
Data Envelopment Analysis (DEA); efficiency; Generalized Least Square (GLS); Indonesia; Islamic capital market; Mutual funds
This paper is an extended version of our earlier study (Abd. Majid and Maulana 2010) to further re-examine the relative efficiencies of selected Islamic and conventional mutual funds companies in Indonesia during the period 2004 to 2007 and their determinants. To measure their efficiencies, the output-input data consisting of a panel of conventional and Islamic mutual funds companies are empirically examined based on the most commonly used non-parametric approach, namely, Data Envelopment Analysis (DEA). It also attempts to investigate the influence of the mutual funds companies’ characteristicson efficiency measures using the Generalized Least Square (GLS) estimation. The study finds that, on average, the Indonesian mutual funds companies experienced a decrease in Total Factor Productivity (TFP) growth. It is mainly caused by a decline in both efficiency and technical efficiencies, where the efficiency change is largely contributed by the changes in pure efficiency rather than scale efficiency. Additionally, the study also documents that the funds size negatively affects efficiency. This indicates that due to its diseconomies of scale, a larger mutual funds company is less efficient than a smaller funds company. Finally, in comparing the efficiency of the mutual funds companies, the study finds that, on average, the Islamic unit trust companies perform more poorly than their conventionalcounterparts.
oai:jurnal.ugm.ac.id:article/5440
2014-11-25T02:05:47Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5440
2014-11-25T02:05:47Z
Gadjah Mada International Journal of Business
Vol 14, No 2 (2012): May - August; 123 - 138
Enhancing Cross-Cultural Training Efficacy on Expatriate Adjustment through Emotional Intelligence and Social Capital
Susanto, Ely; Department of Public Policy and Management (DPPM), Faculty of Social and Political Sciences, Universitas Gadjah Mada, Yogyakarta, Indonesia
Rostiani, Rokhima; Department of Management, Faculty of Economics and Business, Universitas Gadjah Mada, Yogyakarta, Indonesia
2012-05-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5440
cross-cultural training; emotional intelligence; expatriate adjustment; social capital
Cross cultural training is widely believed to make a positive contribution to expatriate adjustment. In practice, however, it is very costly and sometimes ineffective for expatriates. Therefore, there is a growing importance placed on increasing the cost effectiveness or enhancing the efficacy of crosscultural training by functioning individual expatriate’s social capital and emotional intelligence as moderating variables towards expatriate’s adjustment and performance. To do so we blend ideas drawn from social capital theory and emotional intelligence to develop the structure that underlies the logic of this paper. Thus, this paper uses social capital and emotional intelligence theories to enrich extant literature on expatriate adjustment
oai:jurnal.ugm.ac.id:article/5441
2014-11-25T02:05:47Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5441
2014-11-25T02:05:47Z
Gadjah Mada International Journal of Business
Vol 14, No 2 (2012): May - August; 139 - 162
Exploratory Study on Alignment Between IT and Business Strategies
Reksoatmodjo, Wahyuni; Faculty of Engineering, Universitas Gadjah Mada, Yogyakarta, Indonesia
Hartono, Jogiyanto; Faculty of Economics & Business, Universitas Gadjah Mada, Yogyakarta, Indonesia
Djunaedi, Achmad; Faculty of Engineering, Universitas Gadjah Mada, Yogyakarta, Indonesia
Utomo, Hargo; Faculty of Economics & Business, Universitas Gadjah Mada, Yogyakarta, Indonesia
2012-05-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5441
compatibility; connectivity; integration; IT infrastructure flexibility; knowledge and skills of IT staff; modularity; strategic alignment
Interaction and linkages between business and information technology (IT) strategies remain a primary concern among executives. This study aims to gain an in depth understanding of how companies achieve alignment and the policy framework that underlies the efforts, particularly those that are associated with the most dominant factor that contributes to the establishment of strategic alignment, namely IT infrastructure flexibility. For that purpose, the study explored four companies engaged in the field of oil, electricity, and communication by adopting interpretive case study. Data were gathered using triangulation methods via field interviews, artifacts, document analysis, as well as direct observation. The textual data were elaborated by an intentional analysis in order to guide the study in exploring the phenomenon. The study identified elements that reflect IT infrastructure flexibilities namely connectivity, compatibility, modularity, IT staff knowledge and skills, and integration. Those elements cover both technical and behavioral dimensions of a company’s components that need to be included in the consideration during the planning phase
oai:jurnal.ugm.ac.id:article/5442
2014-11-25T02:05:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5442
2014-11-25T02:05:47Z
Gadjah Mada International Journal of Business
Vol 14, No 2 (2012): May - August; 163 - 182
The Perspectives to Understand Social Marketing as an Approach in Influencing Consumer Behavior for Good
Mayasari, Iin; Universitas Paramadina, Jakarta, Indonesia
2012-05-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5442
Marketing
behavioral change perspective; relationship perspective; social marketing
This study is a conceptual paper and highlights perspectives to understand social marketing as an approach to bring about voluntary and socially desirable consumer behavior. The perspective is considered as an alternative way to comprehend consumer behavior change for good as a multi-factor driven action. Hence, social marketing is also considered as a discipline that can be analyzed from multiple perspectives including a behavioral change perspective and a relationship perspective. Each perspective is elaborated by doing a review of existing literature and research. This study shows that social marketing is not only the application of marketing programs to shape consumer behavior, but also a process involving individual, society, and government to make a better life of society.
oai:jurnal.ugm.ac.id:article/5443
2014-11-25T02:05:47Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5443
2014-11-25T02:05:47Z
Gadjah Mada International Journal of Business
Vol 14, No 2 (2012): May - August; 99 - 122
The Relationship between Humanness and Knowledge Sharing in Malaysia Empirical Evidence from Malaysian Managers
Boom, Ilona H.; Faculty of Economics and Business, University of Groningen
Pennink, Bartjan W.; Faculty of Economics and Business, University of Groningen
2012-05-01 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5443
culture; humanness; knowledge sharing; Malaysia
This paper explores whether there is a relationship between humanness and the willingness to share knowledge in Malaysia. Furthermore, the differences between the Malay, Chinese and Indian ethnicities are researched for the presence of humanness and the willingness to share knowledge. Two hundred and fourteen respondents from privately owned companies participated in this research showing that there is a strong relationship between humanness and knowledge sharing. However, the differences between the three ethnicities are small, which is a surprising finding. It can be concluded that people-oriented managers (one of the ways to express humanness) are more willing to share knowledge, and differences between ethnicities have no influence in this matter. From these results, it can be recommended to managers and organizations in Malaysia that they pay more attention and be aware of their management style.Stressing the humanness aspects more as they are described could improve the knowledge transfer within companies.
oai:jurnal.ugm.ac.id:article/5444
2014-11-27T04:46:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5444
2014-11-27T04:46:37Z
Gadjah Mada International Journal of Business
Vol 15, No 3 (2013): September - December; 211-230
A Case Study of an Internationalization Process of a Private Higher Education Institution in Malaysia
Abdul Rahim, Abu Bakar; Prince Sultan University
Asmat Nizam, Abdul Talib; Universiti Utara Malaysia
2013-12-11 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5444
case study; higher education institution; internationalization; Malaysia
The increasing competition and commercialization of higher education has led to the internationalization of Higher Education Institutions (HEIs) around the world. While internationalization appears to be inevitable, differences are apparent in its definitions, depth, scope and mode. The main aim of this paper is to assess the internationalization efforts of Malaysian HEIs through a case study on the internationalization process of one private HEI. The case highlights various weaknesses of the internationalization effort in the institution. The symptoms and the causes of the problems in the institution corroborate similar findings in other studies involving the internationalization of HEIs. Suggestions and recommendations are presented to enable other organizations that wish to undertake similar internationalization efforts to learn from the case study institution’s experience.
oai:jurnal.ugm.ac.id:article/5445
2014-11-27T04:46:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5445
2014-11-27T04:46:37Z
Gadjah Mada International Journal of Business
Vol 15, No 3 (2013): September - December; 231-247
How Does Procedural Fairness Affect Performance Evaluation System Satisfaction? (Evidence from a UK Police Force)
Mahfud, Sholihin; Universitas Gadjah Mada
2014-12-11 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5445
performance evaluation system satisfaction, procedural fairness, trust, UK Police Force
This paper investigates whether, and if so, how procedural fairness affects performance evaluation system satisfaction in a UK Police Force. Employing a survey method with samples of detective inspectors and detective chief inspectors with significant managerial responsibilities in a UK Police Force, this study finds that procedural fairness affects performance evaluation system satisfaction. Further analysis reveals that the effect of procedural fairness on performance evaluation system satisfaction is mediated by trust. This study provides empirical evidence on how procedural fairness affects performance evaluation system satisfaction. The results of this study may benefit the designer of performance evaluation systems in police organizations.
oai:jurnal.ugm.ac.id:article/5453
2014-11-27T04:46:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5453
2014-11-27T04:46:37Z
Gadjah Mada International Journal of Business
Vol 15, No 3 (2013): September - December
Social Entrepreneurial Intention among Business Undergraduates: An Emerging Economy Perspective
Noorseha, Ayob; Bank Rakyat School of Business and Entrepreneurship, Universiti Tun Abdul Razak, Malaysia
2013-12-21 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5453
en
Social entrepreneurs are viewed as having the abilities to combat social and economic problems in which government, businesses, and non-profits may not be able to solve the problems alone. Consequently, with the collaboration among these sectors, more social enterprises can be established to create social values and development in a nation, specifically among the emerging economies. Therefore, it is timely to investigate what motivates undergraduates to develop social entrepreneurial intention. Drawing from the entrepreneurial models of Shapero and Sokol (1982) and Kruger and Brazeal (1994), this study aims to examine the social entrepreneurial intention among undergraduates from the perspective of an emerging economy. The proposed conceptual model differs from the existing entrepreneurial intention studies by adding the concepts of empathy and social entrepreneurship exposure as the antecedents to perceived desirability and perceived feasibility of social enterprising start-up, which in turn link to social entrepreneurial intention. Using the quota sampling technique, data were collected from 257 business and economics undergraduates from both public and private higher education institutions in Malaysia. The survey instrument was adapted from prior related studies, for instance, Davis (1983) for empathy; Shapero and Sokol (1982) for social entrepreneurship exposure; Krueger (1993) for perceived desirability and perceived feasibility; and Chen et al. (1998) for social entrepreneurial intention. Partial least squares path modelling was used to analyze the hypothesized relationships in the proposed conceptual framework. It is hoped that the findings of this study will shed light on the existing literature of social entrepreneurship, specifically the social entrepreneurial intention studies from the emerging economies perspective.
oai:jurnal.ugm.ac.id:article/5454
2017-01-26T07:47:29Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5454
2017-01-26T07:47:29Z
Gadjah Mada International Journal of Business
Vol 14, No 3 (2012): September-December; 213-228
What Factors Constitute Structures of Clustering Creative Industries? Incorporating New Institutional Economics and New Economic Sociology into A Conceptual Framework
Ismalina, Poppy; Faculty Economics and Business, Universitas Gadjah Mada
2012-11-27 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5454
en
Creative industries tend to cluster in specific places and the reasons for this phenomenon can be a multiplicity of elements linked mainly to culture, creativity, innovation and local development. In the international literature, it is pretty well recognized that creativity is frequently characterized by the agglomeration of firms so that creative industries are not homogeneously distributed across the territory but they are concentrated in the space. Three theories are becoming the dominant theoretical perspectives in agglomeration economies theory and they are increasingly being applied in industrial clusters analysis to study the effect of clustering industries. The theories are Marshall’s theoretical principles of localization economies, Schmitz’s collective efficiency and Porter’s five-diamond approach. However, those have adequately theorized neither the institutionalization process through which change takes place nor the socio-economic context of the institutional formations of clustering creative industries. This text begins by reviewing three main theories to more fully articulate institutionalization processes of an economic institution. Specifically, this paper incorporates new institutional economics (NIE) and new economic sociology (NES) to explain the processes associated with creating institutional practices within clustering creative industries. Both streams of institutional theory constitute that economic organizations are socially constructed. Next, this text proposes the framework that depicts the socio-economic context better and more directly addresses the dynamics of enacting, embedding and changing organizational features and processes within clustering creative industries. Some pertinent definitions are offered to be used in a conceptual framework of research about how economic institutions like clustering creative industries constitute their structures.
oai:jurnal.ugm.ac.id:article/5461
2017-01-26T07:40:09Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5461
2017-01-26T07:40:09Z
Gadjah Mada International Journal of Business
Vol 16, No 2 (2014): May-August; 143-166
Dynamic Marketing and Service Innovation for Service Excellence
Hariandja, Evo S.; School of Business and Management, Bandung Institute of Techmology (ITB), Indonesia
Simatupang, Togar M.; School of Business and Management, Bandung Institute of Techmology (ITB), Indonesia
Nasution, Reza A.; School of Business and Management, Bandung Institute of Techmology (ITB), Indonesia
Larso, Dwi; School of Business and Management, Bandung Institute of Techmology (ITB), Indonesia
2014-06-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5461
en
This study aims at creating a framework describing how the interaction capabilities between dynamic marketing and service innovation can influence service excellence. In this study market sensing, market learning, market targeting or positioning are classified as dynamic marketing capabilities (DMC), while sensing, seizing, and transformi ng are classified as service innovation capabilities (SIC). Hence, the drivers of service excellence for the framework being developed are divided into three main categories: dynamic marketing capability, service innovation capability, and their interaction. The findings of the study on three hotels, ranging from 4-star to 5-star hotels and operating in Indonesia, suggest that both capabilities and their interaction play their roles in achieving service excellence.Abstrak: Riset ini bertujuan untuk menciptakan kerangka yang menggambarkan bagaimana kapabilitas interaksi antara pemasaran dinamik dan inovasi jasa dapat mempengaruhi keunggulan layanan. Dalam riset ini, penginderaan pasar, pembelajaran pasar, target pasar serta positioning diklasifikasikan sebagai kapabilitas pemasaran dinamik (DMC), sementara penginderaan (sensing), merebut (seizing), dan transforming diklasifikasikan sebagai kapabilitas inovasi jasa (SIC). Oleh karena itu, penggerak keunggulan layanan untuk kerangka yang dikembangkan dibagi menjadi tiga kategori utama: kapabilitas pemasaran dinamik, kapabilitas inovasi jasa, dan interaksi diantara kedua kapabilitas. Temuan studi pada tiga hotel yang dijadikan sebagai studi kasus di hotel bintang 4 (empat) dan 5 (lima) yang beroperasi di Indonesia, menunjukkan bahwa kedua kapabilitas dan interaksinya memainkan peran mereka dalam mencapai keunggulan layanan.
oai:jurnal.ugm.ac.id:article/5462
2017-01-26T07:40:09Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5462
2017-01-26T07:40:09Z
Gadjah Mada International Journal of Business
Vol 16, No 2 (2014): May-August; 167-183
Fraud Firms and the Matching Principle: Evidence from Korea
Hong, Jooyeon; School of Business, Sungkyunkwan University, Korea
Paek, Wonsun gamaijb@gmail.com; School of Business, Sungkyunkwan University, Korea
2014-06-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5462
en
This paper examines whether the degree of matching for poor-performing fraud firms varies depending on the strength of the causal relation between expenses and revenues. A stronger causal relation exists between revenues and operating expenses than between revenues and total expenses that include non-operating expenses as well as operating expenses. Fraud firms have stronger incentives for managing earnings. Given that managing earnings is easier when using non-operating items than when using operating items, the degree of matching is (not) lower for fraud firms than for non-fraud firms at the strong (weak) level of the causal relation between revenues and expenses. Empirical results suggest that the degrees of matching are different between fraud and non-fraud firms only at the strong level of the causal relation between revenues and expenses. This result implies that the investigation of the matching model at a strong level of the causal relation between revenues and expenses is more effective than that at a weak level of the causal relation, with regard to examining the degree of matching for fraud firms. This study contributes to the literature by providing evidence on the importance of the level of the causal relation when examining the degree of matching.
oai:jurnal.ugm.ac.id:article/5463
2017-01-26T07:40:09Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5463
2017-01-26T07:40:09Z
Gadjah Mada International Journal of Business
Vol 16, No 2 (2014): May-August; 185-200
A Comparative Analysis of the Quality of Islamic and Conventional Banks’ Asset Management in Indonesia
Abd. Majid, M. Shabri; Department of Islamic Economics, Faculty of Economics, Syiah Kuala University, Banda Aceh
Musnadi, Said; Department of Management, Faculty of Economics, Syiah Kuala University, Banda Aceh
Putra, Indra Yadi; Department of Management, Faculty of Economics, Syiah Kuala University, Banda Aceh
2014-06-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5463
en
This research empirically and comparatively examines the quality of conventional and Islamic banks’ asset management in Indonesia during the period 2009-2011. Four general conventional banks [i.e., Bank Mandiri Indonesia (BMI), Bank Rakyat Indonesia (BRI), Bank Central Asia (BCA), and Bank Nasional Indonesia (BNI)] and four Islamic banks (Bank Muamalat, Bank Syariah Mandiri, Bank Syariah Mega Indonesia, and Bank Syariah BRI) were, respectively, explored. Specifically, the purpose of this study is to compare the quality of the Islamic and conventional banks’ asset management with the CAMEL (capital, asset, management, earning, and liquidity) method. It also attempts to analyse the influences of the ROA (Return on Asset), TLTA (Total Loan to Total Assets), and OITL (Operating Income to Total Liabilities) on the quality of the banks’ asset management. The CAMEL method was used to evaluate the quality level of the banks’ asset management, while the multiple regression analysis was then adopted to explore the determinants of the quality of the banks’ asset management. The study documented that Bank Syariah BRI was the best performing bank, with the highest CAMEL score of 50.33, while Bank Mandiri Indonesia was the worst performer with the lowest CAMEL score of 26.33. As a group, the Islamic banks were found to have better rankings, i.e., positions 1, 2, 3, and 6, while the conventional banks were found in 4, 5, 7, and 8, respectively. The study proved that the Islamic banks have a better asset management quality compared to their conventional counterparts. The Islamic banks were also proved to be better able to withstand the risks, particularly the financing risk.
oai:jurnal.ugm.ac.id:article/5464
2017-01-26T07:41:06Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5464
2017-01-26T07:41:06Z
Gadjah Mada International Journal of Business
Vol 16, No 1 (2014): January-April; 1-22
Interest Rates Targeting of Monetary Policy: An Open Economy SVAR Study of Malaysia
Karim, Zulkefly Abdul; Faculty of Economics and Management Universiti Kebangsaan Malaysia
Karim, Bakri Abdul; Faculty of Economics and Business, Universiti Malaysia Sarawak (UNIMAS)
2014-02-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5464
en
This paper examines the implementation of monetary policy during the interest rates targeting in a small-open economy (i.e. Malaysia) by using an open-economy structural VAR (SVAR) study. It tests the effect of foreign shocks upon domestic macroeconomic fluctuations and monetary policy, and examines how effective monetary policy is in influencing macroeconomic variables. The results show that during interest rates targeting, monetary policy plays a significant role in affecting macroeconomics variables. This finding suggests that monetary policy has an important role as a stabilization policy in a small-open economy.
oai:jurnal.ugm.ac.id:article/5465
2017-01-26T07:41:06Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5465
2017-01-26T07:41:06Z
Gadjah Mada International Journal of Business
Vol 16, No 1 (2014): January-April; 23-38
Explaining the Informal Sector in Indonesia from the Transaction Costs Perspective
Gultom, Yohanna M. L.; Faculty Economics and Business, Universitas Gadjah Mada
2014-02-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5465
en
The informal sector in Indonesia is massive, and has become a challenge to the growth of the open market economy. Explanations of the cause of informality have shifted over time from structural dualism to excessive government regulation. This paper argues that merely focusing on the high cost regulation may not reveal the bottom line of informality. Assessment and elaboration of infomality need the help of the transaction cost approach that suggests that informality in the economy exists due to the high-transaction-cost institutional framework. To support the argument, this paper provides a preliminary study on the transaction costs borne by firms in the industrial manufacturing sector based on two industrial surveys conducted by BPS-Statistics Indonesia, which are the 2009 survey on medium and large-scale enterprises (MLEs) and the 2010 survey on micro and small-scale enterprises (MSEs). This paper shows that micro and small-scale enterprises with no legality bore the least transaction costs compared to those operating legally, both micro and small-scale, as well as medium and large-scale enterprises. Consequently, regulatory reforms aimed at reducing transaction costs, not merely aimed at reducing official costs and simplifying procedures, are the keys to achieving economic growth while ensuring full participation of the private sector.
oai:jurnal.ugm.ac.id:article/5466
2017-01-26T07:41:06Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5466
2017-01-26T07:41:06Z
Gadjah Mada International Journal of Business
Vol 16, No 1 (2014): January-April; 39-53
Stock Market Integration: Are Risk Premiums of International Assets Equal?
Setiawan, Kusdhianto; Faculty Economics and Business, Universitas Gadjah Mada
2014-02-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5466
en
This paper studies previous research on capital market integration and applies a simple international capital asset pricing model by considering the incompleteness in market integration and heteroscedasticity of the market returns. When we disregarded those two factors, we found that stock markets were integrated and the law of one price on risk premiums prevails. However, when the factors were considered, the markets were just partially integrated.
oai:jurnal.ugm.ac.id:article/5467
2017-01-26T07:41:06Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5467
2017-01-26T07:41:06Z
Gadjah Mada International Journal of Business
Vol 16, No 1 (2014): January-April; 55-68
Abusive Supervision Scale Development in Indonesia
Wulani, Fenika; Faculty of Business, Widya Mandala Catholic University, Surabaya
Purwanto, Bernadinus M; Faculty of Economics and Business, Universitas Gadjah Mada, Yogyakarta
Handoko, Hani; Faculty of Economics and Business, Universitas Gadjah Mada, Yogyakarta
2014-02-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5467
en
The purpose of this study was to develop a scale of abusive supervision in Indonesia. The study was conducted with a different context and scale development method from Tepper’s (2000) abusive supervision scale. The abusive supervision scale from Tepper (2000) was developed in the U.S., which has a cultural orientation of low power distance. The current study was conducted in Indonesia, which has a high power distance. This study used interview procedures to obtain information about supervisor’s abusive behavior, and it was also assessed by experts. The results of this study indicated that abusive supervision was a 3-dimensional construct. There were anger-active abuse (6 items), humiliation-active abuse (4 items), and passive abuse (15 items). These scales have internal reliabilities of 0.947, 0.922, and 0.845, in sequence.
oai:jurnal.ugm.ac.id:article/5468
2017-01-26T07:41:06Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5468
2017-01-26T07:41:06Z
Gadjah Mada International Journal of Business
Vol 16, No 1 (2014): January-April; 69-88
Technology Readiness and E-Commerce Adoption among Entrepreneurs of SMEs in Bandung City, Indonesia
Astuti, Novika Candra; School of Business and Management, Institut Teknologi Bandung
Nasution, Reza Ashari; School of Business and Management, Institut Teknologi Bandung
2014-02-28 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5468
en
The emergence of internet-based electronic commerce offers considerable opportunities for companies to expand their customer base, enter new product markets, and rationalize their business. The Indonesian government has initiated and implemented a series of plans and activities to promote technology use to increase SMEs’ performance. Despite such efforts, technology adoption rate are still low. Therefore, it is important to understand the factors affecting an entrepreneurs’ decision on internet adoption, by measuring technology readiness (TR). The purpose of this study is to investigate TR and the extent to which E-commerce is adopted amongst entrepreneurs. This study is replication of Parasuraman’s study on the Technology Readiness Index (TRI). Questionnaires were distributed using a convenience sampling method to 190 entrepreneurs of SME in Bandung city. The findings indicate that entrepreneurs are moderate in terms of their TR. There are significant differences in terms of TR across entrepreneurs’ backgrounds (gender, age, education, and income). In relation to internet adoption by those surveyed, as their use of media promotion is still low, there were only 36.3 percent who adopted it. The results clearly indicate the need to provide support to SMEs to adopt and use e-commerce. These results have implications not only for managers of SMEs but also for government agencies in developing countries such as Indonesia. The findings have implications for researchers and practitioners by identifying TR drivers (optimism and innovativeness), and barriers (discomfort and insecurity), that contribute to effectively leveraging the Internet in an important area for SMEs.
oai:jurnal.ugm.ac.id:article/5470
2014-11-27T04:46:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5470
2014-11-27T04:46:37Z
Gadjah Mada International Journal of Business
Vol 15, No 3 (2013): September - December; 249-267
Social Entrepreneurial Intention among Business Undergraduates: An Emerging Economy Perspective
Ayob, Noorseha; ank Rakyat School of Business and Entrepreneurship, Universiti Tun Abdul Razak
Yap, Ching Seng; Graduate School of Business, Universiti Tun Abdul Razak
Sapuan, Dewi Amat; Graduate School of Business, Universiti Tun Abdul Razak
Rashid, Md Zabid Abdul; Graduate School of Business, Universiti Tun Abdul Razak
2014-09-29 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5470
en
Social entrepreneurs are viewed as having the abilities to combat social and economic problems in which government, businesses, and non-profits may not be able to solve the problems alone. Consequently, with the collaboration among these sectors, more social enterprises can be established to create social values and development in a nation, specifically among the emerging economies. Therefore, it is timely to investigate what motivates undergraduates to develop social entrepreneurial intention. Drawing from the entrepreneurial models of Shapero and Sokol (1982) and Kruger and Brazeal (1994), this study aims to examine the social entrepreneurial intention among undergraduates from the perspective of an emerging economy. The proposed conceptual model differs from the existing entrepreneurial intention studies by adding the concepts of empathy and social entrepreneurship exposure as the antecedents to perceived desirability and perceived feasibility of social enterprising start-up, which in turn link to social entrepreneurial intention. Using the quota sampling technique, data were collected from 257 business and economics undergraduates from both public and private higher education institutions in Malaysia. The survey instrument was adapted from prior related studies, for instance, Davis (1983) for empathy; Shapero and Sokol (1982) for social entrepreneurship exposure; Krueger (1993) for perceived desirability and perceived feasibility; and Chen et al. (1998) for social entrepreneurial intention. Partial least squares path modelling was used to analyze the hypothesized relationships in the proposed conceptual framework. It is hoped that the findings of this study will shed light on the existing literature of social entrepreneurship, specifically the social entrepreneurial intention studies from the emerging economies perspective.
oai:jurnal.ugm.ac.id:article/5472
2014-11-27T04:46:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5472
2014-11-27T04:46:37Z
Gadjah Mada International Journal of Business
Vol 15, No 3 (2013): September - December; 287-303
FDI and Economic Growth — Does the Quality of Banking Development Matter?
Haji Mohd, Nor Hakimah; Faculty of Management and Muamalah, Kolej Universiti Islam Antarabangsa Selangor
Low, Soo-Wah; UKM-Graduate School of Business, Universiti Kebangsaan Malaysia
Md Nor, Abu Hassan Shaari; Faculty of Economics and Management, Universiti Kebangsaan Malaysia
Ghazali, Noor A.; UKM-Graduate School of Business, Universiti Kebangsaan Malaysia
2014-09-29 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5472
en
This study examines the role of banking development quality in the FDI-growth nexus from 1998 to 2009. Banking development quality is measured using two standardized intermediation cost indicators and an index of banking development quality that is constructed based on the following indicators: overhead costs to total assets and net interest margin. The results for developed countries show that, on its own, FDI is negatively related to economic growth. However, when FDI is interacted with a banking development quality index, the quality of banking development is found to play a positive role in influencing the effects of FDI on economic growth. This suggests that the quality of banking development serves as an absorptive capacity that allows developed countries to benefit from the positive growth effects of FDI. On the contrary, for emerging countries, the findings indicate that banking development quality plays no role in influencing the impact of FDI on economic growth. This implies that the quality of banking development in emerging countries has yet to reach a level that allows it to importantly influence the growth effects of FDI.
oai:jurnal.ugm.ac.id:article/5473
2014-11-27T04:46:37Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5473
2014-11-27T04:46:37Z
Gadjah Mada International Journal of Business
Vol 15, No 3 (2013): September - December; 269-285
Efficiency of S&P CNX Nifty Index Option of the National Stock Exchange (NSE), India, using Box Spread Arbitrage Strategy
Girish, G. P.; IBS Hyderabad, ICFAI Foundation For Higher Education (IFHE) University, Andhra Pradesh
Rastogi, Nikhil; Institute of Management Technology (IMT) Hyderabad
2014-09-29 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5473
en
Box spread is a trading strategy in which one simultaneously buys and sells options having the same underlying asset and time to expiration, but different exercise prices. This study examined the efficiency of European style S&P CNX Nifty Index options of National Stock Exchange, (NSE) India by making use of high-frequency data on put and call options written on Nifty (Time-stamped transactions data) for the time period between 1st January 2002 and 31st December 2005 using box-spread arbitrage strategy. The advantages of box-spreads include reduced joint hypothesis problem since there is no consideration of pricing model or market equilibrium, no consideration of inter-market non-synchronicity since trading box spreads involve only one market, computational simplicity with less chances of mis-specification error, estimation error and the fact that buying and selling box spreads more or less replicates risk-free lending and borrowing. One thousand three hundreds and fifty eight exercisable box-spreads were found for the time period considered of which 78 Box spreads were found to be profitable after incorporating transaction costs (32 profitable box spreads were identified for the year 2002, 19 in 2003, 14 in 2004 and 13 in 2005) The results of our study suggest that internal option market efficiency has improved over the years for S&P CNX Nifty Index options of NSE India.
oai:jurnal.ugm.ac.id:article/5474
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Gadjah Mada International Journal of Business
Vol 15, No 2 (2013): May-August; 99-112
Service Quality and the Mediating Effect of Corporate Image on the Relationship between Customer Satisfaction and Customer Loyalty in the Malaysian Hotel Industry
Cheng, Boon-Liat; Bank Rakyat School of Business and Entrepreneurship, Universiti Tun Abdul Razak
2014-06-29 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5474
en
Service quality is vital to the success of any service organization. The rapid growth of the Malaysian hotel industry in the 2000’s forced hotel operators to seriously recognize the importance of service improvement in order to gain competitive advantage. This study aims to examine the impact of service quality on customer satisfaction, and how customer satisfaction subsequently affects customer loyalty in the hotel industry in Malaysia. This study also investigates the mediating effect of corporate image on the relationship between customer satisfaction and customer loyalty. A systematic sampling approach was adopted to collect data through self-administered questionnaires from 500 hotel guests. Preliminary data analysis, descriptive analysis, reliability test and regression analysis were adopted to ana-lyze the reliability of items and the hypothesized relationships in the proposed research model. The findings revealed that perception of service quality is significantly related to customer satisfaction, which in turn generates positive customer loyalty in the hotel industry. Besides, corporate image is found to be a partial mediator in the relationship between customer satisfaction and customer loyalty. Overall, the find-ings of this study would help hotel operators to formulate and implement effective marketing manage-ment strategies to cope with the keen competition in the hotel service industry.
oai:jurnal.ugm.ac.id:article/5475
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Gadjah Mada International Journal of Business
Vol 14, No 3 (2012): September-December; 229-252
In Search for Anchors The Fundamental Motivational Force in Compensating for Human Vulnerability
Riyono, Bagus; Faculty of Psychology, Universitas Gadjah Mada
Himam, Fathul; Faculty of Psychology, Universitas Gadjah Mada
-, Subandi; Faculty of Psychology, Universitas Gadjah Mada
2012-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5475
en
The purpose of this study is to develop a new integrative theory of motivation drawn from the existing theories and data. The method used is a combination of meta-ethnography and grounded theory. The second phase of the study employed a thought experiment to test the newly developed theoretical propositions of motivational force. The first phase of the study revealed a central phenomenon for the occurrence of motivational force, i.e. “In Search for Anchors,” which is a result of the paradox between freedom to choose and human vulnerability. “Freedom to choose” is the central factor of a motivational model that includes “urge,” “challenge,” “incentive,” and “meaning.” These five factors are motivational sources, which have holistic-dynamic-integrative interaction. Human vulnerability is the other side of the motivational model that comprises risk, uncertainty, and hope that ignite motivational force. The dynamic interaction of risk, uncertainty, and hope is represented in a mathematical formula that produces the strength of the force, (R – H)2 x U, which can be potrayed in a “twin-peak” curve. The thought experiment was conducted to test the hypothetical formula. The result shows that the “twin-peak” hypothesis is supported but the shape of the curve is found to be not symmetrical. The data show that hope is the strongest motivational force, therefore the formula is modified into = (R – U)2 x H. The implication of the study and the utility of the new theory are discussed.
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Gadjah Mada International Journal of Business
Vol 14, No 3 (2012): September-December; 253-266
The Impact of Public Capital Investments on the Revenue Growth of Medium Enterprise in Indonesia
Tirtosuharto, Darius; Regional Economic and Inflation Division, Economic Research and Monetary Policy Department,
Bank of Indonesia
2012-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5476
en
Public capital investment represents the role of state and local governments in supporting greater capacity of private enterprises to gain success in a market economy measured by revenue growth. Medium enterprises are considered as the catalysts for economic growth and competitiveness particularly in developing countries due to efficiency and flexibility in an adverse economic environment. Using aggregate data of 30 states (provinces) in Indonesia from 1997-2002, the impact of public capital investment on the revenue growth of medium enterprise is examined. The paper finds that only medium enterprises in the industrial and trading sector benefited from public capital investments and the most optimum capital investment is in transport infrastructure.
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Gadjah Mada International Journal of Business
Vol 14, No 3 (2012): September-December; 267-302
An Alternative to Optimize the Indonesian’s Airport Network Design: An Application of Minimum Spanning Tree (MST) Technique
Lusiantoro, Luluk; Faculty Economics and Business, Universitas Gadjah Mada
Ciptono, Wakhid Slamet; CIPTONO, Wakhid Slamet, earned his Ph.D. (2010) from the Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia. Previously, he completed his M.B.A. (1993) in Strategic Operations and Entrepreneurship Management and his M.P.M. (1993) in Project and Program Management at Western Carolina University, North Carolina, U.S.A. He is a lecturer, researcher, and consultant at the Department of Management, Faculty of Economics and Business, Universitas Gadjah Mada. Currently, he is the Director of Master Management (MM/MBA) Program, Faculty of Economics and Business, UGM-Jakarta. He was the Director of Research and Development Management, Faculty of Economics (1999-2002); and was the Director/ Project Manager of Project Implementation Unit/ Japan Bank for International Cooperation (2005-2006), UGM. His main areas of research include Strategic Operations Management, Program/Project Management, Asset (Realty) Management, Total Quality and Innovation Management, Strategic Entrepreneurship Management, Supply/Demand-Chain Management, and Metaknowledge Management.
Author contact’s details: Master of Management Program (MM/MBA Program), Faculty of Economics and Business, Universitas Gadjah Mada, Jl. Teknika Utara 1, Yogyakarta 55281, Indonesia; Phone: +62 274 562222, 511036, Fax. +62 274 564388; e-mail: wakhidsciptono@mmugm.ac.id.
2012-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5477
en
Using minimum spanning tree technique (MST), this exploratory research was done to optimize the interrelation and hierarchical network design of Indonesian’s airports. This research also identifies the position of the Indonesian’s airports regionally based on the ASEAN Open Sky Policy 2015. The secondary data containing distance between airports (both in Indonesia and in ASEAN), flight frequency, and correlation of Gross Domestic Regional Product (GDRP) for each region in Indonesia are used as inputs to form MST networks. The result analysis is done by comparing the MST networks with the existing network in Indonesia. This research found that the existing airport network in Indonesia does not depict the optimal network connecting all airports with the shortest distance and maximizing the correlation of regional economic potential in the country. This research then suggests the optimal networks and identifies the airports and regions as hubs and spokes formed by the networks. Lastly, this research indicates that the Indonesian airports have no strategic position in the ASEAN Open Sky network, but they have an opportunity to get strategic positions if 33 airports in 33 regions in Indonesia are included in the network.
oai:jurnal.ugm.ac.id:article/5478
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Gadjah Mada International Journal of Business
Vol 14, No 3 (2012): September-December; 303-315
Does Auditor Tenure Reduce Audit Quality?
Junaidi, -; Faculty of Informatics Technology and Business, Universitas Teknologi Yogyakarta (UTY)
Miharjo, Setiyono; Faculty of Economics and Business, Universitas Gadjah Mada
Hartadi, Bambang; Faculty of Informatics Technology and Business UTY
2012-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5478
en
Reduced auditor independence and the rise of corporate accounting manipulations have caused trust of the users in audited financial statements to begin to decline, so users of financial statements are questioning whether public accountants are independent parties. This research issue is related to the Decree of the Minister of Finance No. 17 in 2008 about public accountant services. Giving attestation services, in the form of financial statements about an entity, are conducted by the audit firm for no longer than 6 consecutive fiscal years and by a public accountant for 3 consecutive fiscal years at the longest. The purpose of this research is to examine empirically the influence of auditor tenure on audit quality. Auditor tenure is measured as the length of the auditor-client relationship. Audit quality is measured by the propensity of auditors to issue a going-concern opinion. This study uses a sample of firms listed on the Indonesia Stock Exchange during the 2003-2008 period. Research analysis uses logit model to measure the effect of auditor tenure on the auditors’ propensity to publish a going-concern opinion. The hypothesis which states that the length of auditor tenure influences negatively the propensity of auditors to issue a going-concern opinion is statistically supported. This research is expected to provide empirical evidence about the importance of limiting of the auditor-client relationship.
oai:jurnal.ugm.ac.id:article/5480
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Gadjah Mada International Journal of Business
Vol 13, No 3 (2011): September-December; 209-226
The Behavior of Indonesian Stock Market: Structural Breaks and Nonlinearity
Setianto, Rahmat Heru; Department of Management Faculty of Economics and Business, Universitas Airlangga
Abdul Manap, Turkhan Ali; Department of Economics, Kulliyyah of Economics and Management Sciences, International Islamic University
2011-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5480
en
This study empirically examines the behaviour of Indonesian stock market under the efficient market hypothesis framework by emphasizing on the random walk behaviour and nonlinearity over the period of April 1983 - December 2010. In the first step, the standard linear unit root test, namely the augmented Dickey-Fuller (ADF) test, Phillip-Perron (PP) test and Kwiatkowski-Philllips-Schmidt-Shin (KPSS) test identify the random walk behaviour in the indices. In order to take account the possible breaks in the index series Zivot and Adrews (1992) one break and Lumsdaine and Papell (1997) two breaks unit root test are employed to observe whether the presence of breaks in the data series will prevent the stocks from randomly pricing or vice versa. In the third step, we employ Harvey et al. (2008) test to examine the presence of nonlinear behaviour in Indonesian stock indices. The evidence of nonlinear behaviour in the indices, motivate us to use nonlinear unit root test procedure recently developed by Kapetanios et al. (2003) and Kruse (2010). In general, the results from standard linear unit root test, Zivot and Adrews (ZA) test and Lumsdaine and Papell (LP) test provide evidence that Jakarta Composite Index characterized by a unit root. In addition, structural breaks identified by ZA and LP test are corresponded to the events of financial market liberalization and financial crisis. The nonlinear unit root test procedure fail to rejects the null hypothesis of unit root for all indices, suggesting that Jakarta Composite Index characterized by random walk process supporting the theory of efficient market hypothesis.
oai:jurnal.ugm.ac.id:article/5481
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Gadjah Mada International Journal of Business
Vol 13, No 3 (2011): September-December; 227-247
The Causality between Corporate Governance Practice and Bank Performance: Empirical Evidence from Indonesia
Utama, Cynthia A.; Research Fellow, Faculty of Economics and Business, University of Indonesia
Musa, Haidir; Head of Macroeconomic Analyst Unit, Indonesia Stock Exchange
2011-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5481
en
The aim of this study is to examine the existence of causality between corporate governance practice and performance of commercial banks in Indonesia. We also investigate the influence of age, capital adequacy, and type of commercial banks on bank performance and examine the influence of the bank size, foreign ownership, and listing status on corporate governance practice. The result shows that corporate governance practice, bank size and capital adequacy ratio have positive influences on bank performance in Indonesia. However, bank performance does not influence corporate governance practice. This study also finds that regional banks have better performance than private banks. The results of the study support the Central Bank’s efforts to enhance CG practices in the banking sector, to strenghten banks’ capital base and its policy to encourage banks to merge to become larger.
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Gadjah Mada International Journal of Business
Vol 13, No 3 (2011): September-December; 249-266
Investigating the Joint Effects of Strategy, Environment and Control Structure on Performance
Gani, Lindawati; Master of Accounting and Accounting Profession Education, Faculty of Economics and Business, Universitas Indonesia, Jakarta
Jermias, Johnny; Faculty of Business Administration, Simon Fraser University, Burnaby, British Columbia
2011-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5482
en
The purpose of this study is to investigate the effects of misfit between competitive environment, business strategy and control structure on performance. We argue that the misfit between competitive environment, business strategy and control structure has significant negative implications on shareholder value creation associated with firms’ Joint Venture formation. Based on data of publicly-traded US manufacturing firms that announce a joint venture formation, we found that firms that have perfect fit are valued higher than those with both strategy and structural misfits and also those with structural misfit. Contradictory results were found when comparing firms with perfect fit with those that have strategy misfit. Further analyses indicate that all those strategy misfit firms operate in high entry barriers, where firms can compete effectively using either innovation or cost efficiency strategy due to the fact that they possess resources that are difficult to be imitated by their competitors.
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Gadjah Mada International Journal of Business
Vol 13, No 3 (2011): September-December; 267-286
The Attitudinal and Behavioral Effects of Nonfinancial Measures
Agritansia, Putri Paramita; Faculty Economics and Business, Universitas Gadjah Mada
Sholihin, Mahfud; Faculty Economics and Business, Universitas Gadjah Mada
2011-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5483
en
A recent study by Lau and Moser (2008) found that the use of nonfinancial measures for managerial performance evaluation is positively associated with managerial performance via procedural fairness and organizational commitment. It is not clear, however, whether the findings are generalizable to other contexts. Using very different samples, the objectives of this study are to reexamine and to extend Lau and Moser’s model. Our paper is only able to partially support their model, suggesting that management control systems should be designed to fit the contexts.
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Gadjah Mada International Journal of Business
Vol 13, No 3 (2011): September-December; 287-305
An Investigation on the Audit Committees Effectiveness: The Case for GLCs in Malaysia
Jamil, Nurul Nazlia; Kuliyyah of Economics and Management Sciences, International Islamic University Malaysia
Nelson, Sherliza Puat; Kuliyyah of Economics and Management Sciences, International Islamic University Malaysia
2011-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5484
en
Financial reporting quality has been under scrutiny especially after the collapse of major companies. The main objective of this study is to investigate the audit committee’s effectiveness on the financial reporting quality among the Malaysian GLCs following the transformation program. In particular, the study examined the impact of audit committee characteristics (independence, size, frequency of meeting and financial expertise) on earnings management in periods prior to and following the transformation program (2003-2009). As of 31 December 2010, there were 33 public-listed companies categorized as Government-Linked Companies (GLC Transformation Policy, 2010) and there were 20 firms that have complete data that resulted in the total number of firm-year observations to 120 for six years (years 2003-2009). Results show that the magnitude of earnings management as proxy of financial reporting quality is influenced by the audit committee independence. Agency theory was applied to explain audit committee, as a monitoring mechanism as well as reducing agency costs via gaining competitive advantage in knowledge, skills, and expertise towards financial reporting quality. The study is important as it provides additional knowledge about the impact of audit committees effectiveness on reducing the earnings management, and assist practitioners, policymakers and regulators such as Malaysian Institute of Accountants, Securities Commission and government to determine ways to enhance audit committees effectiveness and improve the financial reporting of GLCs, as well as improving the quality of the accounting profession.
oai:jurnal.ugm.ac.id:article/5486
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Gadjah Mada International Journal of Business
Vol 13, No 2 (2011): May-August; 107-123
Ethical Ideology and Ethical Judgments of Accounting Practitioners in Malaysia
Ismail, Suhaiza; Faculty of Economics and Management Sciences, International Islamic University Malaysia
Mohd Ghazali, Nazli A.; Faculty of Economics and Management Sciences, International Islamic University Malaysia
2011-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5486
en
The paper intends to explore the ethical ideology and ethical judgments of accounting practitioners in Malaysia. The objectives of this study are twofold. First, the paper intends to examine the factors that contribute to the different ethical ideology among Malaysian accounting practitioners. Second, it aims to investigate the influence of demographic factors and ethical ideology on ethical judgments of accounting practitioners. The study used Forsyth’s (1980) Ethics Position Questionnaire instrument to examine the ethical ideology of the accountants and adopted ethics vignettes used by Emerson et al. (2007) to assess the ethical judgments of the respondents. From the statistical analysis, this study found that age and gender have a significant impact on ethical judgment but not on ethical ideology. In addition, idealism and relativism have a significant influence on ethical judgment, especially in a legally unethical situation.
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Gadjah Mada International Journal of Business
Vol 13, No 2 (2011): May-August; 125-142
An Examination of the Mediating Effect of Islamic Work Ethic on the Relationships between Transformational Leadership and Work Outcomes
Rokhman, Wahibur; Sekolah Tinggi Agama Islam Negeri (STAIN) Kudus
Rivai, Harif Amali; Andalas University, Padang
Adewale, Abideen; International Islamic University
2011-06-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5487
en
This study investigates the role of Islamic work ethic as mediator between transformational leadership and work outcomes (organizational commitment, job satisfaction and turnover intention). This study used a sample of 370 employees from 60 Islamic microfinance institutions in Central Java, Indonesia. The results of Structural Equation Modeling (SEM) indicate that transformational leadership has a positively significant impact on Islamic work ethic. The findings also noted that Islamic work ethic directly and positively affect both organizational commitment and job satisfaction on the one hand, and negatively influences turnover intention on the other. Overall the model supported that Islamic work ethic has a significant role to mediate the the relationship betweem transformational leadership and work outcomes. Implication, limitation and suggestion for future research are discussed.
oai:jurnal.ugm.ac.id:article/5488
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Gadjah Mada International Journal of Business
Vol 13, No 2 (2011): May-August; 143-159
The Impact of Financial, Non-Financial, and Corporate Governance Attributes on The Practice of Global Reporting Initiative (gri) Based Environmental Disclosure
Frendy, -; Faculty Economics and Business, Universitas Gadjah Mada
Kusuma, Indra Wijaya; Faculty Economics and Business, Universitas Gadjah Mada
2011-06-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5488
en
Business entities are able to exert their influence on particular stakeholders for the benefit of their interest by managing the information they disseminate to the public, particularly if there is no regulation on such issue in place. Accordingly, the extent of accounting information disclosed to the public, specifically voluntary environmental information, is determined by the internal characteristics of the business entities. The objective of this research is to test the financial, non-financial, and corporate governance attributes of Indonesian public companies which contribute to the extent of environmental information disclosure in Indonesia. This research measured the extent of Indonesian public companies’ environmental disclosure using Environmental Disclosure Index (EDI) as a dependent variable. The index is developed from the parameters under environmental protocols of the Global Reporting Initiative (GRI) G3 framework. Samples of 35 Indonesian public companies are purposively chosen for each of the year from 2005-2008 to form a total of 140 observations.The testing results conclude that size of company, economic performance, and industry sensitivity positively affect environmental disclosure. This research is limited by an assumption that Indonesian public companies employ annual report as the primary means to publicize financial and non-financial information to public.
oai:jurnal.ugm.ac.id:article/5489
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Gadjah Mada International Journal of Business
Vol 13, No 2 (2011): May-August; 161-183
SME Internationalization Intelligence Information and Knowledge on International Opportunities
Senik, Zizah Che; School of Business Management, Faculty of Economics and Management, Universiti Kebangsaan Malaysia
Md. Sham, Ridzuan; Universiti Kuala Lumpur, Malaysia, Malaysian France Institute
2014-12-01 15:51:21
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5489
en
Small and medium enterprises (SMEs) internationalization intelligence, referring to the process of gathering information and knowledge on international opportunities, is crucial to initiate SMEs’ internationalization. The literature has stressed organizational resources, networks and information sharing as means to acquire internationalization intelligence, suggesting that the resource-based, network and social capital perspectives can be adopted to explore this issue. However, previous literature still lacks evidence on how SMEs acquire relevant intelligence, and who or what are involved with the process. To address this lack of evidence, we interviewed 54 SME owners/key personnel in the manufacturing sector to: identify sources of internationalization intelligence; examine how those sources assist SMEs to internationalize; and develop propositions on internationalization intelligence. Analyzing the data using NVivo, four themes emerged including institutions, business associates, personal efforts, and other means. The analysis suggests internationalization intelligence occurs mainly through the networks of the SME owners/key personnel, built on their firm’s resources through their internal and external information sharing activities, indicating the need of the SMEs to position themselves in their environments. These findings are developed into propositions. The study indicates multiple perspectives in conceptualizing the process of internationalization intelligence. This study advances a conceptualization of internationalization intelligence, and offers avenues for future research.
oai:jurnal.ugm.ac.id:article/5490
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Gadjah Mada International Journal of Business
Vol 13, No 2 (2011): May-August; 185-203
Paternalistic Leadership and Employee Responses in Javanese Culture
Irawanto, Dodi W.; Management Department, Faculty of Economics and Business, Brawijaya University, Malang
Ramsey, Phil L.; chool of Management, Massey University, Palmerstone North
2011-06-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5490
en
While much has been written about leadership research, little effort has been made to identify what constitutes effective leadership in an Indonesian cultural context. Paternalistic leadership is an emerging body of research that has been adapted to the Indonesian context. Javanese cultural values provide a foundation for an Indonesian form of Paternalistic Leadership (PLI). In this study, 178 civil servants in the province of Yogyakarta Special Region, where surveyed in order to examine their responses to the dimensions of PLI. Results suggested that effective PLI emphasises a leader’s visibility, benevolence and courage. Authority and impartiality need to be expressed in ways that align with traditional Javanese values. Suggestions of the direction for further study are presented.
oai:jurnal.ugm.ac.id:article/5491
2017-01-26T07:49:41Z
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Gadjah Mada International Journal of Business
Vol 13, No 1 (2011): January-April; 1-20
Sustainability of TQM Implementation Model In The Indonesia’s Oil and Gas Industry: An Assessment of Structural Relations Model Fit
Ciptono, Wakhid Slamet; Faculty Economics and Business, Universitas Gadjah Mada
Ibrahim, Abdul Razak; epartment of Marketing and Information Systems, Faculty of Business and Accountancy, University of Malaya
Sulaiman, Ainin; Department of Marketing and Information Systems, Faculty of Business and Accountancy, University of Malaya
Syed A. Kadir, Sharifah Latifah; Faculty of Business and Accountancy, University of Malaya
2011-02-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5491
en
This study purposively is to conduct an empirical analysis of the structural relations among critical factors of quality management practices (QMPs), world-class company practice (WCC), operational excellence practice (OE), and company performance (company non-financial performance or CNFP and company financial performance or CFP) in the oil and gas companies operating in Indonesia. The current study additionally examines the relationships between QMPs and CFP through WCC, OE, and CNFP (as partial mediators) simultaneously. The study uses data from a survey of 140 strategic business units (SBUs) within 49 oil and gas contractor companies in Indonesia. The findings suggest that all six QMPs have positive and significant indirect relationships on CFP through WCC and CNFP. Only four of six QMPs have positive and significant indirect relationships on CFP through OE and CNFP. Hence, WCC, OE, and CNFP play as partial mediators between QMPs and CFP. CNFP has a significant influence on CFP. A major implication of this study is that oil and gas managers need to recognize the structural relations model fit by developing all of the research constructs simultaneously associated with a comprehensive TQM practice. Furthermore, the findings will assist oil and gas companies by improving CNFP, which is very critical to TQM, thereby contributing to a better achievement of CFP. The current study uses the Deming’s principles, Hayes and Wheelwright dimensions of world-class company practice, Chevron Texaco’s operational excellence practice, and the dimensions of company financial and non-financial performances. The paper also provides an insight into the sustainability of TQM implementation model and their effect on company financial performance in oil and gas companies in Indonesia.
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Gadjah Mada International Journal of Business
Vol 13, No 1 (2011): January-April; 21-43
Development of Micro, Small and Medium Enterprises and Their Constraints: A Story from Indonesia
Tambunan, Tulus T. H.; Center for Industry, SME and Business Competition Studies, University of Trisakti
2011-02-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5492
en
The main aim of this paper is to discuss recent development of micro, small and medium enterprises (MSMEs) and their current problems in Indonesia, based on analysis of secondary data on their performance focusing on their contribution to gross domestic product (GDP) and productivity, and their constraints. It shows that their GDP share is larger than that of large enterprises (LEs). But it is mainly because their number is huge, while their productivity is low. Their main constraints are mainly high cost of raw materials, marketing difficulties, and lack of capital.
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Gadjah Mada International Journal of Business
Vol 13, No 1 (2011): January-April; 45-64
The Formulating Growth Strategy of Aceh Port System in Indonesia: An AHP Approach
Subhan, Muhammad; Institute for Aceh Strategic Development (IASD), and Senior Lecturer (Visiting), Department of International Business, Universiti Utara Malaysia
Abdul Ghani, Ahmad Bashawir; Senior Lecturer, Department of International Affairs, Universiti Utara Malaysia
2011-02-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5494
en
The main objective of this study is to investigate the growth strategy of Aceh’s ports in order to develop a better position of those ports in the dynamic and competitive environment along the Malacca straits. Using the analytic hierarchy process (AHP) approach, this study examines priority perspectives on strategy formulation from 25 individuals representing relevant parties in the Aceh port industry such as government officials, port authorities and managements, experts, academicians and consultants, and port user associations. Six potential strategies related to resources, competencies, market share, opportunity share, cooperation, and competitiveness were examined. The findings show that the resource-based strategy and the competence-based strategy are ranked as first and second important strategy respectively while the opportunity share strategy ranked as the least important strategy. This study provides new insights into the implications of using various strategy formulations for port growth in developing countries and provides a significant practical contribution to the port authorities.
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Gadjah Mada International Journal of Business
Vol 13, No 1 (2011): January-April; 65-83
The Effects of Shopping Orientations, Consumer Innovativeness, Purchase Experience, and Gender on Intention to Shop for Fashion Products Online
Nirmala, Ratih Puspa; Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
Dewi, Ike Janita; Faculty of Economics, Sanata Dharma University
2011-02-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5495
en
Nowadays, many fashion retailers or marketers use the power of internet to promote and sell their products. This research examines the effects of consumers’ shopping orientations (brand/fashion consciousness, shopping enjoyment, price consciousness, convenience/time consciousness, shopping confidence, in-home shopping tendency), consumer innovativeness, online purchase experience for fashion products, and gender on consumers’ intention to shop for fashion products online. Data were collected through online surveys from the population of internet users in Indonesia, aged between 15 and 30 years old (generation Y), who had bought or browsed fashion products through the internet (N=210). This research is a quantitative research which uses purposive sampling and multiple regression analysis. Results show that the effects of several shopping orientations (shopping enjoyment, price consciousness, in-home shopping tendency), consumer innovativeness, online purchase experience for fashion products, and gender, are significant on consumers’ intention to shop for fashion products online. Furthermore, gender is marginally significant related to consumers’ intention to shop for fashion products online. Surprisingly, women tend to have lower intentions to shop for fashion products online compared to men.
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Gadjah Mada International Journal of Business
Vol 13, No 1 (2011): January-April; 85-101
Analysis of the Effect of Olfactory, Approach Behavior, and Experiential Marketing toward Purchase Intention
Anggie, Cherish; Pelita Harapan University
Haryanto, Jony Oktavian; Satya Wacana Christian University
2011-02-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5496
en
The drive of retail business competition is getting tighter and causing retailers to seek to entice consumers to be regular and faithful at their stores. Retailers need to understand consumer behavior in order to obtain what is desired by consumers. Therefore, consumer behavior needs to be studied considering various factors which can influence consumer decisions to buy a product. The emergence of BreadTalk in Indonesia in the bakery industry with a different concept bakery store has caused rapid development in this industry. One strategy used by BreadTalk to encourage consumers to visit, feel the different experience, and ultimately to increase consumer purchase intention is to use dimensional olfactory as one of the elements in the store ambience. With this phenomenon, this study aims to find the significant influence of the olfactory, approach behavior, experiential marketing toward purchase intention. Collecting data in this study was done by spreading questionnaires to students of the University of Pelita Harapan, who had visited and shopped at BreadTalk Supermal Karawaci. The questionnaires were distributed to 150 respondents. The variables that exist in the study are measured using the Likert scale. The sample collection technique used was a non-probability sampling technique of sampling with a purposive sampling method. The data are then processed by using reliability analysis, validity, and methods of structural equation modelling analysis. From the results of this study the significant influence from olfactory to 3 variables mentioned above can be seen.
oai:jurnal.ugm.ac.id:article/5502
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Gadjah Mada International Journal of Business
Vol 12, No 3 (2010): September - December; 355-376
Alliance formation: A Study of the Malaysian Automobile Supporting Industry
Abdul Ghani, Ahmad Bashawir; University Utara Malaysia, Malaysia
Tull, Malcolm; Murdoch Business School, Australia
2010-09-05 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5502
Competition in global industries is shifting increasingly from inter-firm rivalry to rivalry between networks of firms. Strategies of individual firms are thus contingent on the degree of interdependence that exists between them and the parent firm in the network. The present study examines the effect of network affiliation on a member firm’s decision to enter a foreign market and international strategic alliance formation. Affiliate firms have two options available to them: (1) enter into a competitive strategic alliance with a competitor or (2) enter into a symbioticstrategic alliance with the parent firm of the network organiza-tion. We tested this assertion using data from archival sources on sixty-five Japanese automobile suppliers that had set up strategic alliances in Malaysia and that belonged to various inter-organizational networks. Results indicate that when affili-ate firms are dependent on the parent firm, they prefer to form symbiotic strategic alliances. Conversely, affiliate firms prefer competitive strategic alliances with competitors when they are not dependent on the parent firm. ALLIANCE FORMATIONA Study of the Malaysian Automobile Supporting IndustryKeywords: automobile industry; joint venture; mode of entry; networks; strategic alliances
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Gadjah Mada International Journal of Business
Vol 12, No 3 (2010): September - December; 325-354
Sources of Labor Growth in Malaysian Manufacturing Sector
Tin, Poo Bee; Faculty of Economics and Management, Univeristi Kebangsaan Malaysia
Rashid, Zakariah Abdul; Executive Director Malaysia Institute of Economic Research (MIER)
2010-09-05 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5503
The manufacturing sector plays an important role in Malaysianindustrial development. High growth rates and technology expan-sion in the manufacturing sector resulted in a substantial increasein demand for labor. This process of rapid growth and changes in thedemand for labor were also accompanied by changes in laborstructure and skills. At the same time, the range of activities andproducts became more diversified and, correspondingly the compo-sition of manpower sub sectors changed significantly. This studyemployed the input-output Structural Decomposition Analysis (SDA).The analysis computed the compositional manpower change as aresult of decomposition. The result of this study indicates thatsources of labor growth in the manufacturing sector were favored bychanges in the final demand structure. Within the changes in thefinal demand structure, changes in domestic demand structure werethe dominant source of employment growth between 1978 and 1991and the overall period 1978-2000. However, from 1991 to 2000,employment change was due mainly to changes in export structure.Changes in the structure of domestic demand had a relatively strongand increasing effect on service workers, production and relatedworkers, transport equipment operators, laborers, and clerical andrelated workers during the 1978-1991 period. Changes in the exportstructure were the main factor that had an increasing effect on the employment of high skill workers and sales workers. However,during the second sub period of 1991-2000, manpower growth wasexports structure driven.Keywords: input-output; labor; manufacturing; structural decomposition analysis
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Gadjah Mada International Journal of Business
Vol 12, No 3 (2010): September - December; 295-323
Survey on the Use of Derivatives in Indonesia
Lantara, I Wayan Nuka; Graduate School of Business Administration, Kobe University, Japan
2010-09-05 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5504
This paper provides survey evidence on the use of derivatives among firms listed on the Indonesian Stock Exchange. The finding shows that the participation rate in the use of derivatives is 28.8 percent, much lower than those found in developed countries. For the derivatives non-users, insignificant risk exposure is reported as the most important rationale for not using derivatives. Consumer goods industry constitutes the largest proportion of firms using derivatives. The majority of respondents utilize derivatives to hedge against financial risks rather than to speculate. Foreign currency risk and interest rate risk are the most important types of risks faced with by respondents. Using the Chi-square and the Fisher’s exact tests, the result corroborates the size effect hypothesis, where the use of derivatives is more popular among large firms than small firms. A SURVEY ON THE USE OF DERIVATIVES IN INDONESIAKeywords: derivatives; hedging; risk management
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Gadjah Mada International Journal of Business
Vol 12, No 3 (2010): September - December; 377-391
The Application of Choice-Based Conjoint Model to Study Government Authorities Preference: A Case of Traffic-Subsidy-Pollution Related Policy in Indonesia
Gudono, Gudono; Faculty of Economics and Business, Universitas Gadjah Mada
2010-09-05 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5505
According to the UN, air pollution kills more than 3 millionpeople each year (UN-Habitat 2007). Despite the magnitude ofthe impact, delays in making decisions about the environmentare quite common among governments worldwide. The purposesof this study are twofold. First, the study is to investigate therelative strength of attributes of environmental policy such asmethods of vehicle restriction, percentage of reduction in lead (and CO2) content, and percentage of subsidy reduction. Second, the study is to test government choice when it facesconservative, “scientific,” and popular policy alternatives. Toachieve both objectives this research uses an experimentalmethod. The orthogonal design is adopted for stimuli presenta-tion and conjoint analysis is used for data analysis. The re-search participants are students of an accounting graduateprogram of a state university in Java (Indonesia).The results suggest CO2/lead reduction has the strongesteffect on policy maker preference. In addition, those policymakers tend to prefer the status quo condition which indicatesconservative views. This is demonstrated by the tendency of theirchoice on an alternative policy package which requires minimum changes compared with the existing policies (a maximumutility of 64.3 percent vs. 28.6 percent and 7.1 percent of otheralternatives). In addition, bureaucrats tend to play “safe”(namely the reduction of lead content in gasoline) when thepossibility of resistance is imminence. Some consequences of theresearch findings are also discussed. Keywords: conjoint analysis; mixed environmental; public policy; utility function
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Gadjah Mada International Journal of Business
Vol 12, No 3 (2010): September - December; 393-414
The Conceptual Framework of a Knowledge-Based Performance Management System
Wibisono, Dermawan; School of Business and Management, Institute of Technology Bandung (ITB)
Khan, Mohammed K.; School of Engineering, Design and Technology, University of Bradford, England (UK)
2010-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5506
analytical hierarchy process (AHP); expert system; GAP analysis;knowledge-based (KB); performance management system (PMS)
Designing a Performance Management System (PMS) is anintegral part of management control systems. This paper presents ahybrid framework for the design of a PMS for the Indonesiancontext, and the tailor-made design is expected to overcome theshortcomings of earlier models. The present hybrid PMS modelseeks to improve the earlier research models using the followingnovel approaches: (1) implementation of a Knowledge-Based (KB)expert system, (2) Gauging Absences of Prerequisite (GAP) analysis, and (3) Analytical Hierarchy Process (AHP) methodology in anintegrated KBPMS. The paper shows that the present hybrid (KB-AHP-GAP) approach to developing a PMS model is a realisticmethodology. The combination of the KB-AHP-GAP approachallows detailed benchmarking of the PMS existing in an Indonesiancompany. Furthermore, this approach can assist in identifying andprioritising the key decisions that need to be executed to overcomethe existing PMS shortcomings.symbiotic strategic alliances. Con-versely, affiliate firms prefer competitive strategic alliances withcompetitors when they are not dependent on the parent firm.
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Gadjah Mada International Journal of Business
Vol 12, No 3 (2010): September - December; 415-434
The Moderating Effect of Procedural Justice on the Effectiveness of the Balanced Scorecard in Improving Managerial Performance through Organizational Commitment
Supriyadi, Supriyadi; Faculty of Economics and Business, Universitas Gadjah Mada
2010-09-05 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5507
This study extends prior studies on the effectiveness of theBalanced Scorecard (BSC) to improve managerial performancedone by Lau and Mosser (2008) and Lau and Sholihin (2005).Specifically, the study empirically tests the moderating effects ofprocedural justice on the relationship between the financial andnonfinancial dimensions of BSC and managerial performance. Italso tests the impact of organizational commitment on performance.Based on survey data from 76 respondents, the results indicate thatperceived procedural justice in the use financial and nonfinancialdimensions of the BSC is associated with managers’ organizationalcommitment. It further finds that organizational commitment ispositively related to performance. The study extends the literatureby providing empirical evidence about the moderating effect ofprocedural justice on the relationship between the financial andnonfinancial dimensions of BSC and organizational commitment.Keywords: balanced scorecard; organizational commitment; financial measures;managerial performance; moderating effect; nonfinancial measures;procedural justice
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Gadjah Mada International Journal of Business
Vol 12, No 2 (2010): May - August; 189 - 229
Accounting Fundamentals and the Variation of Stock Price: Factoring in the Investment Scalability
Sumiyana, Sumiyana; Faculty of Economics and Business, Universitas Gadjah Mada
Baridwan, Zaki; Faculty of Economics and Business, Universitas Gadjah Mada
Sugiri, Slamet; Faculty of Economics and Business, Universitas Gadjah Mada
Hartono, Jogiyanto; Faculty of Economics and Business, Universitas Gadjah Mada
2010-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5508
This study develops a new return model with respect to accounting fundamentals. The new return model is based on Chen and Zhang (2007). This study takes into account theinvestment scalability information. Specifically, this study splitsthe scale of firm’s operations into short-run and long-runinvestment scalabilities. We document that five accounting fun-damentals explain the variation of annual stock return. Thefactors, comprised book value, earnings yield, short-run andlong-run investment scalabilities, and growth opportunities, co associate positively with stock price. The remaining factor,which is the pure interest rate, is negatively related to annualstock return. This study finds that inducing short-run and long-run investment scalabilities into the model could improve the degree of association. In other words, they have value rel-evance. Finally, this study suggests that basic trading strategieswill improve if investors revert to the accounting fundamentals.Keywords: accounting fundamentals; book value; earnings yield; growth opportunities; shortrun and longrun investment scalabilities; trading strategy;value relevance
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Gadjah Mada International Journal of Business
Vol 12, No 2 (2010): May - August; 139 - 158
Mediation Analysis Using the Hierarchical Multiple Regression Technique: A Study of the Mediating Roles of World-Class Performance in Operations
Ciptono, Wakhid S.; Faculty of Business and Accountancy, University of Malaya,
Kuala Lumpur, Malaysia
Ibrahim, Abdul Razak; Faculty of Business and Accountancy, University of Malaya,
Kuala Lumpur, Malaysia
Sulaiman, Ainin; Faculty of Business and Accountancy, University of Malaya,
Kuala Lumpur, Malaysia
2010-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5509
company performance; critical factors of quality management practices; Indonesia; oil and gas industry; operational excellence practice; world-class company practice
The changing environment in an organization is forcing the organization to find a plan of integrated management framework and adequate performance measurement. Failure to plan basically means planning failure for the business. Finding the critical factors of quality management practices (QMP), themediating roles of the contextual factors of world-class performance in operations (i.e., world-class company practices or WCC, operational excellence practices or OE, company nonfinancial performance or CNFP), and the company financial performance would enable the company to facilitate the sustainability of TQM implementation model.This empirical study aims to assess how TQM—a holistic management philosophy initially developed by W. Edward Deming, which integrates improvement strategy, management practices, and organizational performance—is specifically implemented in the oil and gas companies operating in Indonesia. Relevant literature on the TQM, the world-class performance in operations (world-class company and operational performance), the company performance (financial and non-financial performances), and the amendments of the Law of the Republic of Indonesia concerning the oil and gas industry, and related research on how the oil and gas industry in Indonesia develops sustainable competitive advantage and sustainable development programs are reviewed in details in our study. The findings from data analysis provide evidence that there is a strong positive relationship between the critical factors of quality management practices and the company financial performance mediated by the three mediating variables, i.e., world-class company practices, operational excellence practices, and company non-financial performance.
oai:jurnal.ugm.ac.id:article/5510
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Gadjah Mada International Journal of Business
Vol 12, No 2 (2010): May - August; 231 -255
The Response of Performance to Merger Strategy in Indonesian Banking Industry: Analyses on Bank Mandiri, Bank Danamon, and Bank Permata
Lestari, Murti; Faculty of Business, Duta Wacana Christian University
Arsyad, Lincolin
2010-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5510
This study analyzes the responses of performances of BankMandiri, Bank Danamon, and Bank Permata to merger strategy.This paper harnesses the quantitative approach with structuralbreak analysis method and impulse response function. Theplausible findings indicate that the merger of Bank Permataproduces a better performance response in comparison to theconsolidation of Bank Mandiri and the merger of Bank Danamon.The merger of Bank Permata does not result in performanceshocks, and the structural break does not prevail either. On theother hand, the consolidation of Bank Mandiri and the mergerof Bank Danamon result in structural breaks, particularly in thespread performance. In order to return to the stable position, themergers of Bank Mandiri and Bank Danamon require a longertime than does the merger of Bank Permata. This researchindicates that for large banks, the mergers and acquisitions(retaining one existing bank) will deliver a better performanceresponse than will the consolidations (no existing bank).Keywords: impulse response function; merger; structural break
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Gadjah Mada International Journal of Business
Vol 12, No 2 (2010): May - August; 159 - 187
Unusual Market Activity Announcements: A Study of Price Manipulation on the Indonesian Stock Exchange
Hanafi, Mamduh M.; Faculty of Economics and Business, Universitas Gadjah Mada
2010-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5511
We investigate stocks involved in the Unusual Market Activity (UMA) Announcements. The Indonesian Stock Exchange occasionally issues UMA announcements when it suspects that there are unusual price increases (positive UMAs) or price decreases (negative UMAs), as well as unusual increases in trading volumes. We believe that UMA announcements signal a high probability that stocks are being manipulated. We find no differences in fundamentals and trading variables between stocks in the UMA announcements and those not in the UMA announcements. Any stock is vulnerable to market manipulation. Stocks in the UMA announcements do not exhibit reversal patterns, suggesting that price effect is permanent. UMAs seem to convey relevant information, which is most likely in the form of insider type of information.Keywords: emerging market; price manipulation; unusual market activity announcement.
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Gadjah Mada International Journal of Business
Vol 12, No 2 (2010): May - August; 257 -287
What Drive the Damage to Post-Merger Operating Performance?
Soegiharto, Soegiharto; School of Business YKPN, Yogyakarta, Indonesia
2010-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5512
This study examines whether bidders’ post-merger operat-ing performance are affected by their CEO behavior, premiumspaid to the target firms, the period of mergers, the method ofpayment, the industry of merged firms, capital liquidity, andtheir pre-merger operating performance. Testing the U.S. suc-cessful merger and acquisition data for the period of 1990s, thisstudy finds that in-wave mergers, intra-industry mergers, thepayment of lower premiums, and better pre-merger operatingperformance drive the bidders to produce better post-mergeroperating performance. Three measures of CEO behavior—themain predictor scrutinezed in this study—are proposed andexamined, and the results demonstrate that the effects of thesemeasures on post-merger operating performance are mixed,suggesting that each of the behavioral measures designed in thisstudy may capture CEO behavior in different ways.Keywords: capital liquidity; CEO overconfidence; merger waves, method of pay-ment operating performance
oai:jurnal.ugm.ac.id:article/5513
2014-12-02T02:27:40Z
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Gadjah Mada International Journal of Business
Vol 12, No 1 (2010): January - April; 75 - 115
An Analytical Assessment of Assurance Practices in Social Environmental and Sustainable Reporting in the United Kingdom and North America
Manurung, Annisa Melissa; Faculty of Economics & Business Universitas Gadjah Mada, Yogyakarta, Indonesia
Basuki, Hardo; Faculty of Economics & Business Universitas Gadjah Mada, Yogyakarta, Indonesia
2010-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5513
assurance; sustainability; transparency and accountability
The objective of this study is to continue and extend previous studies in evaluating the extent to which current assurance practices promote transparency and accountability to stakeholders. This is carried out by conducting an empirical analysis of the content of assurance statements accompanying a sample of non-financial reports short-listed for the Association of Chartered Certified Accountants (ACCA) U.K. Sustainability Reporting Award and the CERES-ACCA Sustainability Reporting Award from 2006 to 2008. The findings of this study show that several new trends in social, environmental and sustainability assurance can be observed. Firstly, accountants tend to limit their intended readership to management only and state a disclaimer for other potential readers. This diminishes the transparency and stakeholder accountability of the reporting. Secondly, there is even stronger evidence that management has the control over the scope of the assurance engagement and over what information gets publicly disclosed. The evidence is shown in the fact that in many assurance statements prepared by accountants, only selected parts of the reports are being assured, with no indication that it is not management who selects these parts. Finally, the recent practices of assurance engagements represented by the sample in this study have not improved the transparency and stakeholder accountability of social, environmental and sustainable reporting. Similar to the two previous studies, we assert that a generally accepted standard is needed to promote assurance statements that add meaningful values to the reliability of social, environmental and sustainability reporting.
oai:jurnal.ugm.ac.id:article/5514
2014-12-02T02:27:40Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5514
2014-12-02T02:27:40Z
Gadjah Mada International Journal of Business
Vol 12, No 1 (2010): January - April; 55 - 74
An Empirical Assessment of the Role of Organizational Citizenship Behavior in Explaining Academic Success: Some Evidence from East Malaysian Sample
Chooi Hwa, Magdalene Ang; Labuan School of International Business and Finance, Universiti Malaysia Sabah.
Ramayah, T; School of Management, Universiti Sains Malaysia
2010-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5514
academic success; organizational citizenship behavior; East Malaysia.
Management researchers have consistently reported the significant role of organizational citizenship behavior (OCB) in predicting individual success in organizational settings. This topic, however, has been largely ignored in the business education environment. Given the demonstrable benefits of OCB enactment in terms of influencing performance evaluations and organizational rewards, we emphasize the importance of examining the role of OCB in predicting student performance and their eventual career success. This endeavor holds important implications for students who are on the threshold of entering the industry. Using a self-administered questionnaire, we collected data from a total of 177 undergraduate students from two different schools in a Malaysian public university. Analysis reveals that of the three distinct dimensions of OCB, only one (consisting of altruism and courtesy items) has influences on both measures of student performance (i.e., productivity and cumulative grade point average). Implications of these findings are discussed.
oai:jurnal.ugm.ac.id:article/5515
2014-12-02T02:27:40Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5515
2014-12-02T02:27:40Z
Gadjah Mada International Journal of Business
Vol 12, No 1 (2010): January - April; 117 - 133
Inflation Dynamics in Indonesia: Equilibrium Correction and Forward-Looking Phillips Curve Approaches
Insukindro, Insukindro; Faculty of Economics and Business,
Universitas Gadjah Mada, Yogyakarta
Sahadewo, Gumilang Aryo; Department of Economics, Boston University
2010-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5515
correction; forward-looking; GMM; inflation; Phillips curve
A series of relatively high inflation characterize Indonesian economy, especially during the economic crisis. Economists generally agree that high inflation is one of the major economic problems, and that economic authorities need to cope with such a problem. Therefore, it is essential to understand the behavior of inflation in Indonesia. The aim of this paper is to estimate the inflation dynamics in Indonesia using equilibrium correction and forward-looking Phillips Curve approaches. Previous empirical studies show that the equilibrium correction or backward-looking approach may explain the inflation dynamics in Indonesia. The backward-looking specification does not have to be the proper model even if the fact shows that the specification holds. The major innovation of this paper is the application of a forward-looking Phillips curve model. The empirical results—estimated using the Generalized Method of Moments (GMM)—show that the forward-looking Phillips Curve approach dominates the backward-looking behavior. It indicates that after a credible monetary policy announcement, for instance, the former model predicts that economic agents will change their behavior quickly. Therefore, the policy will affect the economy more rapidly
oai:jurnal.ugm.ac.id:article/5516
2014-12-02T02:27:40Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5516
2014-12-02T02:27:40Z
Gadjah Mada International Journal of Business
Vol 12, No 1 (2010): January - April; 31 - 54
The Importance and Usefulness of Corporate Annual Reports in Malaysia
Mohd. Ghazali, Nazli Anum; International Islamic University
2010-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5516
The purpose of this study is to examine the perceived importance and usefulness of corporate annual reports in Malaysia and to determine if there is a difference between the perceptions of preparers and users of corporate annual reports. Data for this study were collected using a questionnaire survey conducted in late 2006 and early 2007. Preparers are represented by chief financial officers while users by investment analysts. The mean scores for preparers and users are compared using the independent samples t test and the non-parametric Mann-Whitney test to determine if there are any statistically significant differences in their opinions. The findings reveal that preparers rank the annual report as the most important source of corporate information. Users, on the other hand, rank the annual report as the second most important after the visits to companies. However, the difference in the mean scores of preparers and those of users on the importance of annual reports is not significant at 5 percent level. The difference in the mean scores for the visits to companies is, on the other hand, statistically significant at 5 percent level. An implication for this finding is whether the annual report serves the information needs of analysts for decision-making purposes. An opportunity thus arises for future research to examine information needs of analysts and if there is a gap between information provided in annual reports and that required by analysts. Keywords: corporate annual reports; disclosure; Malaysia; transparency
oai:jurnal.ugm.ac.id:article/5517
2014-12-02T02:27:40Z
gamaijb:ART
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https://journal.ugm.ac.id/gamaijb/article/view/5517
2014-12-02T02:27:40Z
Gadjah Mada International Journal of Business
Vol 12, No 1 (2010): January - April; 1 - 30
The Influence of Multinationality on Determinants of Change in Debt Level: Empirical Evidence from Indonesia
Utama, Cynthia A.; Faculty of Economics University of Indonesia
Rahmawati, Santi; Faculty of Economics University of Indonesia
2010-01-15 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5517
This study aims to investigate whether: (1) the change in debt level is affected by agency problems, the probability of bankruptcy, firm size, and profitability; (2) the change in debt level is affected by multinationality (i.e., multinational corporations (MNCs) or domestic corporations (DCs)) and whether multinationality affects the relationship of agency problems, probability of bankruptcy, size, and profitability to the change in debt level. This study finds that in general, the change in debt level is negatively affected by the probability of bankruptcy and size. Furthermore, the changes in debt level for Indonesian MNCs are negatively affected by the probability of bankruptcy, firm size, and profitability. The negative effects of size and profitability on the change in debt level support the view of the Pecking Order Theory. However, for domestic companies, none of the determinants has a significant effect on the change in debt level. We also find that: (1) only size has a negative influence on the change in debt level when we include all interactive terms in the model; (2) if we include one interactive variable at a time, the probability of bankruptcy, firm size, and profitability have negative influences on the change in debt level; in addition, a positive impact of agency problems on the change in debt level is more pronounced for MNCs compared to DCs. Overall, we conclude that multinationality affects the relationship between agency problems and the change in debt level.Keywords: capital structure; Indonesia leverage; multinational corporations
oai:jurnal.ugm.ac.id:article/5518
2014-12-02T02:28:51Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5518
2014-12-02T02:28:51Z
Gadjah Mada International Journal of Business
Vol 11, No 3 (2009): September - December; 361 - 391
Factors Affecting Choice in A Multi-Stage Model: The Influence of Saliency and Similarity on Retrieval Set and the Implication of Context Effect on Consideration Set
Santosa, Eric; Unisbank, Semarang
2009-09-14 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5518
consideration set; context effect; retrieval set
While it is considered a new paradigm in consumer research, the multi-stage model of consumer decision-making remains unclear as to whether brands are easily retrieved. Likewise, the process of consideration, after particular brands are successfully retrieved, is still in question. This study purports to investigate the effects of saliency and similarity on the ease of retrieval. In addition, referring to some studies of context effect, the effects of attraction, compromise, and assimilation are examined to observe whether they contribute to consideration. A within-subject design is employed in this study. Previously, three preliminary studies are arranged to determine the dominants, new entrants, attributes, and other criteria nominated in the experimental study. The results turn out to be supporting the hypotheses.
oai:jurnal.ugm.ac.id:article/5519
2014-12-02T02:28:51Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5519
2014-12-02T02:28:51Z
Gadjah Mada International Journal of Business
Vol 11, No 3 (2009): September - December; 341 - 359
Investigating the Impacts of Customer Satisfaction on Firm Performance
Leo, Lianny; Faculty of Economics, University of Indonesia
Gani, Lindawati; Faculty of Economics, University of Indonesia
Jermias, Johnny; Faculty of Business Administration Simon Fraser University, Burnaby, British Columbia
2009-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5519
customer satisfaction; firm performance; non-financial measures
The purpose of this study is to investigate the impact of customer satisfaction on firm performance. We argue that a firm’s financial performance will be positively affected by its ability to satisfy its customers. By satisfying its customers, a firm increases its ability to acquire new customers, retain existing customers, and increase customer profitability. Based on sample of firms listed on the Indonesian Stock Exchange, we hypothesize and find that customer satisfaction is positively and significantly related to firm performance in terms of return on assets and market value of equity. These findings are consistent with the view that customer satisfaction is a leading indicator of financial performance.
oai:jurnal.ugm.ac.id:article/5520
2014-12-02T02:28:51Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5520
2014-12-02T02:28:51Z
Gadjah Mada International Journal of Business
Vol 11, No 3 (2009): September - December; 393 - 408
Psychological Factors and Reference Potential of Market Mavens
Puspa, Jofi; Justus-Liebig University
2009-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5520
attitude; knowledge; market maven; reference value; trust; word-of-mouth communication
The function of a market maven in the information transfer processes is apparently related to one’s psychological states such as inherent knowledge and involvement level. Understanding reference potential of mavens seems to be relevant to comprehend the implicit value of a maven in the communication process. This study shows that (1) apparently, maven groups can be clearly distinguished from a non-maven group on the basis on inherent personal knowledge level and involvement level; (2) market mavens have a high reference potential which confirmed their function in WOM-information.
oai:jurnal.ugm.ac.id:article/5521
2014-12-02T02:28:51Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5521
2014-12-02T02:28:51Z
Gadjah Mada International Journal of Business
Vol 11, No 3 (2009): September - December; 301 - 316
The Impact of Government Debt Issuance on Short-Term interest rates in Indonesia
Adiningsih, Sri; Faculty of Economics & Business, Universitas Gadjah Mada
2009-08-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5521
crowding out; ECM; government debt instrument
This paper analyzes whether the expansionary fiscal policy funded by issuing debt instruments in financial markets will increase short-term interest rates. If the expansionary fiscal policy increases interest rates, which decrease private spending especially investment, crowding out occurs. This is interesting because global economic crisis has encouraged many countries to run large budget deficits to stimulate the economy. Indonesia has also run budget deficit during this crisis and even in years before. The impact of such a policy can be significant because Indonesia’s debt market is still narrow and shallow. Therefore, its capability of absorbing the government debt instruments without influencing the private sector funding is limited. This study tests whether the crowding out occurs in Indonesia using a time series econometric model inspired by Cebula and Cuellar’s model. The Cointegration Regression and Error Correction Model (ECM) are used in this study. Monthly data from April 2000 to December 2008 are used for overnight real interbank call money interest rates, real net government bond issues in trading, real narrow money supply, real rate of one-month Certificate of Bank Indonesia, growth of Gross Domestic Product, and real net international capital flows. This empirical study shows that the crowding out problem occurred in Indonesia during the period. This indicates that financing budget deficit in Indonesia by issuing debt instruments in the financial markets has a negative impact on the private sector.
oai:jurnal.ugm.ac.id:article/5522
2014-12-02T02:28:51Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5522
2014-12-02T02:28:51Z
Gadjah Mada International Journal of Business
Vol 11, No 3 (2009): September - December; 409 - 441
The Implementation of Corporate Social Responsibility (CSR) in Central Java Earthquake: A Preliminary Study on Consumer Belief, Attitude, and Purchase Intention
Hendarto, Kresno Agus; Forestry Research Institute of Mataram, Nusa Tenggara Barat
2009-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5522
attitude; belief; corporate social responsibility; Law No. 40/2007; purchase intention; Yogyakarta earthquake
In Indonesia, Law No. 40/2007 paragraph 74 on Limited Liability Corporation regulates corporate social responsibility (CSR). Although CSR is mandatory for Indonesian resource-based firms, only four months after its enactment, six parties have asked for a judicial review to the Constitution Court as to the mandatory implementation of CSR. They argue that the mandatory implementation of CSR might result in legal uncertainty, render businesses inefficient, decrease competitiveness, and trigger discriminative treatments. Using the cases of CSR after the earthquake in Yogyakarta, this paper aims at answering the question of whether the implementation of CSR will lead to a decrease in competitiveness. Harnessing a mixed method of qualitative and quantitative approaches, this paper examines the models of beliefs, attitudes, and purchase intentions of consumers toward a company implementing CSR. The first phase of this study used a focus group discussion (FGD) to collect data from those who had benefited from CSR, and was analyzed using the content analysis. The results of the first phase then became the basis for the second phase. In the second phase, data were collected by surveying parents of school children whose school buildings were reconstructed by CSR programs, and answers were analyzed using the partial least squares analysis. Results show that the conjecture that the implementation of CSR will result in a decrease in competitiveness is not true. It is evident that CSR program affects the attitudes of consumers toward the firm, and that attitude fully mediates the relation between beliefs and purchase intentions toward the products of the firm implementing CSR.
oai:jurnal.ugm.ac.id:article/5523
2014-12-02T02:28:51Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5523
2014-12-02T02:28:51Z
Gadjah Mada International Journal of Business
Vol 11, No 3 (2009): September - December; 317 - 340
The Pro-poor Policy of Microfinance in Indonesia
Nugroho, Agus Eko; Economic Research Center, Indonesian Institute of Sciences (P2E-LIPI)
2009-09-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5523
Indonesia; microfinance; poverty
This paper discusses and proposes the policy issues associated with the development of microfinance industry in Indonesia. Despite its capability of financing small-scale businesses, the development of the microfinance industry is far behind that of commercial banks. The policy focus on developing sound financial practices of microbanks has ignored the role of semi-formal and informal microfinance institutions (MFIs) in serving poor people. Compliance with the sound banking practices could inevitably drive microbanks away from serving the poor. Regarding the capability of informal and semi-formal MFIs of outreaching the poor, the challenges to microfinance policy in Indonesia is to develop inclusive financial systems through which the progress of microbanks goes in a parallel direction with the developments of semi-formal and informal MFIs, such as cooperatives and rotating saving and credit associations (ROSCAs).
oai:jurnal.ugm.ac.id:article/5524
2014-12-02T02:29:48Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5524
2014-12-02T02:29:48Z
Gadjah Mada International Journal of Business
Vol 11, No 2 (2009): May - August; 275 - 293
Corporate Social Responsibility and Marketing: What Works and What Doesn’t
Darsono, Licen Indahwati; Faculty of Economics, Widya Mandala Chatolic University Surabaya
2009-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5524
corporate social responsibility (CSR); intention; marketing; attitude
Many companies choose to portray themselves as seeking the moral high ground and playing active role in society. This introduces an idea of corporate social responsibility. It has been argued that corporate social responsibility enhances corporate image (attitudinal dimension) and financial performance. However, some studies find negative impact of corporate social responsibility. Thus, it is debatable whether or not it pays organizations to play active role in society. This paper explores the importance of trust for making corporate social responsibility works. This paper also evaluates attitude and intention within relative attitudinal framework. The associations between trust, attitude and intention are also discussed and reviewed. Finally, a set of managerial implications is developed to address the problems peculiar to the corporate social responsibility and marketing.
oai:jurnal.ugm.ac.id:article/5525
2014-12-02T02:29:48Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5525
2014-12-02T02:29:48Z
Gadjah Mada International Journal of Business
Vol 11, No 2 (2009): May - August; 167 -189
Customers’ Perceptions on the Objectives, Characteristics and Selection Criteria of Islamic Bank in Thailand
Lateh, Nasrina; BASF, Asia-Pacific Service Centre Sdn.Bhd.
Ismail, Suhaiza; International Islamic University Malaysia
Ariffin, Noraini Mohd; International Islamic University Malaysia
2009-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5525
characteristics; Islamic bank; selection criteria; Thailand
Due to relatively new establishment of islamic bank in Thailand and paucity of empirical research undertaken in the area, this study intends to capture the perceptions of Thai customers towards the objectives and characteristics of the islamic bank. In addition, this study aims to determine the important bank selection criteria as perceived by the customers and the differences in the perceptions of moslem and non-moslem customers were identified. The study surveys a sample of 462 respondents. The empirical findings show that the Thai customers know that the essential characteristic of the islamic bank is interest prohibition. They tend to support the idea that the islamic bank should strive to achieve its social objectives more than the commercial objectives. In addition, the results showed that there are differences between the Thai moslem and non-moslem customers’ preferences toward various bank selection criteria. The moslems highly considered the interest-free saving facilities, while the non-moslems tended to concern more about its reputation and image, and knowledgeable and competent personnel.
oai:jurnal.ugm.ac.id:article/5526
2014-12-02T02:29:48Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5526
2014-12-02T02:29:48Z
Gadjah Mada International Journal of Business
Vol 11, No 2 (2009): May - August; 229 - 252
Integration of Stock Markets between Indonesia and Its Major Trading Partners
Karim, Bakri Abdul; Faculty of Economics and Business, Universiti Malaysia Sarawak
Majid, M. Shabri Abdul; Kulliyah of Economics and Management Sciences, Interantional Islamic University of Malaysia
Abdul Karim, Samsul Ariffin; Universiti Teknologi Petronas
2009-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5526
ARDL; Indonesia; international portfolio diversification; stock market integration; trading partners
Using Autoregressive Distributed Lag (ARDL) and Vector Autoregressive (VAR) frameworks, this study examines the integration between the emerging stock market of Indonesia and its major trading partners (i.e., Japan, the U.S., Singapore, and China). During the period of July 1998 to December 2007, the Indonesian stock market is found to be integrated with its major trading partners. Thus, this implies that there is a limited room available for investors to gain risk-reduction benefits through diversifying their portfolio in those markets. Meanwhile, in the short run, the Indonesian market responds more to shocks in the U.S. and Singapore than in Japan and China. In designing policies pertaining to its stock market, the Indonesian government should take into account any development in the stock markets of its major trading partners, particularly the U.S. and Singaporean markets.
oai:jurnal.ugm.ac.id:article/5527
2014-12-02T02:29:48Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5527
2014-12-02T02:29:48Z
Gadjah Mada International Journal of Business
Vol 11, No 2 (2009): May - August; 253 - 273
Managerial Views of Supply Chain Collaboration: An Empirical Study
Sridharan, Ramaswami; University of Newcastle
Simatupang, Togar M; School of Business and Management, Bandung Institute of Technology
2009-05-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5527
channel relationships; collaboration; incentive alignment; information sharing; New Zealand; supply chain management; survey research
This paper is carried out to empirically examine managerial perceptions on the relationship between supply chain collaboration practice and operational performance. The framework suggests that collaborative practice is characterised by three distinct factors: (1) decision synchronisation, (2) information sharing, and (3) incentive alignment, which enable the chain members to effectively match supply with customer demand. An important question is whether or not collaborative practice leads to better operational performance. A survey research was employed to assess the relationship between collaborative practice and operational performance of New Zealand companies. The survey results show significant positive impacts of key factors of collaborative practice on operational performance. The findings suggest that information sharing, decision synchronisation, and incentive alignment are important determinants of operational performance. This study demonstrates that the chain members need to understand the role of different key factors of collaborative practice that can be redesigned to leverage operational performance.
oai:jurnal.ugm.ac.id:article/5528
2014-12-02T02:29:48Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5528
2014-12-02T02:29:48Z
Gadjah Mada International Journal of Business
Vol 11, No 2 (2009): May - August; 149 - 165
Model of Islamic Monetary Operation for Liquidity Management in Islamic Banking: Case of Indonesia 2000-2009
Ismal, Rifki; Faculty of Economics, University of Indonesia
2009-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5528
Indonesia Sharia Certificate (SBIS); currency in circulation; islamic banking; open market operation (OMO); reserves requiremen; Sharia
The paper attempts to construct the model of islamic monetary operation for liquidity management in islamic banking. Particularly, the model investigates variables that determine the role of the central bank in managing liquidity. Firstly, it explores the related conventional models and chooses one to find general variables involved in monetary operations for managing liquidity. Secondly, it formulates the islamic model after considering the islamic monetary operation principles, characteristics of both islamic monetary instruments and Indonesian islamic banking industry. Specifically, it models Bank Indonesia’s islamic monetary instrument called Bank Indonesia Sharia Certificate (SBIS). Thirdly, the model points out that the volume of SBIS is influenced by reserves requirement, currency in circulation, and prior auctions of SBIS. It means that the application of islamic OMO is not significantly different from monetary instrument in conventional OMO. Therefore, the paper suggests the issuance of islamic investment monetary instruments to implement the ideal islamic monetary instrument and OMO.
oai:jurnal.ugm.ac.id:article/5529
2014-12-02T02:29:48Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5529
2014-12-02T02:29:48Z
Gadjah Mada International Journal of Business
Vol 11, No 2 (2009): May - August; 191 - 228
What Drives the Payment of Higher Merger Premiums?
Soegiharto, Soegiharto; STIE YKPN, Yogyakarta
2009-05-14 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5529
CEO’s behavior; merger; merger waves; overconfidence; premium
This study examines whether the premiums paid to targets firms are affected by bidder CEO overconfidence, merger waves, method of payment, industry of merged firms, and capital liquidity. Using merger data for the period spanning from 1991 to 2000, this study finds that CEOs pay less premiums in cash mergers and pay more premiums for mergers undertaken during the year of high capital liquidity. Moreover, the findings also demonstrate that CEOs tend to pay higher merger premiums for mergers that occur during merger waves and in high capital liquidity year. CEOs’ behavior, which is the main variable examined in this study, does not show any significant effect on the premiums paid. This suggests that the effect of CEO overconfidence on the premiums paid may be exaggerated.
oai:jurnal.ugm.ac.id:article/5530
2014-12-02T02:30:41Z
gamaijb:ART
v2
https://journal.ugm.ac.id/gamaijb/article/view/5530
2014-12-02T02:30:41Z
Gadjah Mada International Journal of Business
Vol 6, No 1 (2004): January-April; 1-27
Electronic Commerce Success Model: A Search for Multiple Criteria
Achjari, Didi; Faulty of Economics & Business, Universitas Gadjah Mada, Yogyakarta
Quaddus, Mohammed A.; Graduate School of Business, Curtin University of Technology
2004-01-12 00:00:00
Gadjah Mada International Journal of Business by Master in Management, Faculty Economics and Business, Universitas Gadjah Mada is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
url:https://journal.ugm.ac.id/gamaijb/article/view/5530
electronuic commerce; internet; LISREL; structural equation model
The current study attempts to develop and examine framework of e-commerce success. In order to obtain comprehensive and robust measures, the framework accomodates key factors that are identified in the literature concerning the success of electronic commerce. The structural model comprises of four exogenous variables (Internal Driver, Internal Impediment, External Driver and Exgternal Impediment) and one endogenous variable (Electornic Commerce Success) eith 24 observed variables. The study that was administered within large Australian companies using questionaire survey concluded that benefits for both internal organization and external parties from the use of e-commerce were the main factor tro predict perceived and/or expected success of electronic commerce.
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