2024-03-29T08:46:12Z
https://jurnal.ugm.ac.id/jieb/oai
oai:jurnal.ugm.ac.id:article/6203
2018-11-09T06:53:01Z
jieb:ART
nmb a2200000Iu 4500
"140505 2014 eng "
2338-5847
2085-8272
dc
TASK-TECHNOLOGY FIT AND PERSON-JOB FIT: A BEAUTY CONTEST TO IMPROVE THE SUCCESS OF INFORMATION SYSTEMS
Suryani, Woro Dwi
Universitas Gadjah Mada
Sumiyana, Sumiyana
Universitas Gadjah Mada
Array
This study raises the issue that information system success could be enhanced by complementing other factors. This study investigates the success of information systems by inducing2 the task-technology fit (TTF) and person-job fit (PJF) into the DeLone and McLean model. This study aims to examine, among the two induced factors, which one is able to explain and improve the success of the information systems implementation. The results of this study indicate that the TTF explains the models’ goodness of fit better than that of the PJF when induced into the modified DeLone and McLean model. This study implies this in terms of both theory and practice. Theoretically, this research presents an alternative research model that can be used to investigate the success of information systems by considering the aspect of the users’ cognitive suitability (the cognitive fit theory). Furthermore, practically, this study suggests the importance of focusing on users’ skills and competencies and, subsequently, management should do so. Additionally, the TTF recommends a simple proposition that it could be attached immediately into the individuals’ skills and competencies. However, the PJF needs to be deeply embedded in the job’s qualifications and recruitment policies.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-05-05 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6203
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 2 (2014): May
eng
Copyright (c) 2014 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6204
2018-07-25T07:03:18Z
jieb:ART
nmb a2200000Iu 4500
"140505 2014 eng "
2338-5847
2085-8272
dc
THE IMPACT ON FARM PROFITS OF A COMPANY’S PARTNERSHIP WITH A POTATO FARM
Hamidi, Hirwan
University of Mataram
Array
This research aims to explain the impact of the partnership on potato farms’ profits in Sembalun District, West Nusa Tenggara Province. To achieve this goal, we looked at 142 farmers, comprising of 111 partnered farmers and 31 non-partnered farmers. The conclusions from our profit function analysis were: (i) the partnership had a positive impact on potato farmers’ profits in Sembalun District, West Nusa Tenggara Province; (ii) productivity, input costs, and labor costs had a significant influence on profits as an impact of the partneship. In this context, it is recomended that the local government encourage and facilitate potato farmers who have not yet established a partnership to enter such an arrangement with the company, so that their productivity and incomes increase. In addition, the local government is expected to build storage facilities for potato seeds. Future research should search for potato seeds that can replace the imported ones.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-05-05 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6204
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 2 (2014): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6205
2018-07-25T07:03:18Z
jieb:ART
nmb a2200000Iu 4500
"140505 2014 eng "
2338-5847
2085-8272
dc
PRICE STABILIZATION AND IPO UNDERPRICING: AN EMPIRICAL STUDY IN THE INDONESIAN STOCK EXCHANGE
Husnan, Suad
Universitas Gadjah Mada
Hanafi, Mamduh M.
Universitas Gadjah Mada
Munandar, Muhammad
Universitas Gadjah Mada
Array
We attempt to investigate IPO underpricing and stabilization activities. We find IPO underpricing of around 25% in the Indonesia market. Return distribution for the first 30-trading days shows a positive skew, the distribution becomes closer to normality as the period lengthens. We then develop and test five algorithms to detect IPO intervention. An important goal of this paper is to develop an algorithm that will be able to detect IPO intervention using public data. We find that the number of closing prices that are equal to the offer prices and the skewness of the IPO return in the first 30-trading days are the ‘best’ stabilization measures. Having found “the best measures”, then we investigate under what conditions IPO intervention is more intensive. We find that underwriters tend to stabilize more on more expensive IPOs.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-05-05 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6205
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 2 (2014): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6206
2018-07-25T07:03:18Z
jieb:ART
nmb a2200000Iu 4500
"140505 2014 eng "
2338-5847
2085-8272
dc
DEVELOPING A MEASURE OF LOCAL GOVERNMENT’S FINANCIAL CONDITION
Ritonga, Irwan Taufiq
Universitas Gadjah Mada
Array
This study develops an instrument to measure the financial condition of local governments (LG) in Indonesia. The instrument will serve as an early warning system for local governments’ financial management. The instrument to measure their financial condition consists of six dimensions, namely short-term solvency, long-term solvency, budgetary solvency, service-level solvency, financial flexibility, and financial independence. Each dimension has its own indicators. There are a total of eighteen indicators examined in this study. These indicators are combined to form a composite index, called a Financial Condition Index (FCI). The reliability and validity of the composite index is analyzed and the results show that the measures developed in this study are reliable and valid. In addition, the instrument possesses the criteria of a good measure: it is theoretically sound, a comprehensive assessment, it has predictive ability, distinctive ability, it is practical, objective, and a resistant to manipulation and gaming.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-05-05 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6206
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 2 (2014): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6207
2018-07-25T07:03:18Z
jieb:ART
nmb a2200000Iu 4500
"140505 2014 eng "
2338-5847
2085-8272
dc
THE IMPACTS OF COUNTRY-OF-ORIGIN, PRODUCT INVOLVEMENT, AND PRODUCT FAMILIARITY ON PRODUCT EVALUATION
Nugroho, Sahid Susilo
Universitas Gadjah Mada
Rostiani, Rokhima
Universitas Gadjah Mada
Gitosudarmo, Indriyo
Universitas Gadjah Mada
Array
One of the most interesting phenomena in global business is the existence of a product’s country-of-origin (COO). COO as an informational cue has been proven to affect consumer’s purchasing decisions in terms of their perception towards the product’s attributes as well as their overall evaluation of the product. The objective of this study is to investigate the impacts of country-of-origin on product evaluation in the Indonesian market by considering consumers’ product familiarity and consumers’ product involvement. Consumers’ perception of the product’s country-of-origin is assumed to have a significant influence on consumers’ considerations in evaluating the product prior to purchase. This impact is supposedly moderated by the extent that consumers are familiar with the product’s attributes and to what extent the product is important and interesting to them. A survey design was employed to test the proposed linkages among the variables.
The target population of the survey was Indonesian consumers of imported products. The sample unit is the person who has experience in buying or consuming foreign products. The sample of 307 persons was drawn from Yogyakarta. This study examined televisions to represent a high involvement product. The country stimuli are Korea and Indonesia . The study applied the regression analyses and hierarchical moderated regression to test the proposed hypotheses. The study found that: (1) Indonesian consumers associate positively a product’s country-of-origin with their decision in evaluating the product for both Indonesian and Korean products, (2) Indonesian consumers consider the level of economic development of the countryof- origin in evaluating the product, in which the effect of the country-of-origin is stronger for a Korean product than an Indonesian product, (3) Indonesian consumers with different levels of product familiarity do not evaluate a product differently for both Indonesian and Korean products, (4) Indonesian consumers with different levels of product involvement evaluate a Korean product differently.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-05-05 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6207
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 2 (2014): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6210
2018-07-25T06:08:44Z
jieb:ART
nmb a2200000Iu 4500
"140119 2014 eng "
2338-5847
2085-8272
dc
INFLUENCE OF WORK-FAMILY CONFLICT AND FAMILY-WORK CONFLICT ON EMPLOYEES’ TURNOVER INTENTIONS WITH GENDER, SOCIAL SUPPORT AND INDIVIDUAL VALUE AS MODERATING EFFECTS
Yunita, Putu Irma
Universitas Gadjah Mada
Kismono, Gugup
Universitas Gadjah Mada
Array
work interfering with family-WIF and family interfering with work-FIW) and its influences on turnover intention. This research also examined the moderating effect of gender, social support and individual values on the relationship between the work-family conflict and turnover intentions. The participants of this study were 210 low and middle managers of four and five star hotels in Bali. This sample consisted of 126 males and 84 females. Multiple regression and hierarchical methods were used to test the proposed hypotheses. The result showed that WIF positively and significantly influences the turnover intention but FIW did not. It was also found that social support significantly moderates the relationships between variables studied, but gender and individual value had no impact on it.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-01-19 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6210
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 1 (2014): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6211
2018-07-25T06:11:02Z
jieb:ART
nmb a2200000Iu 4500
"140119 2014 eng "
2338-5847
2085-8272
dc
PREDICTING INTENDED UNETHICAL BEHAVIOUR AMONG COLLEGE OF ECONOMICS AND BUSINESS STUDENTS: AN EMPIRICAL STUDY AT UNIVERSITAS GADJAH MADA
Winahjoe, Sari
Universitas Gadjah Mada
Sudiyanti, Sudiyanti
Universitas Gadjah Mada
Array
This study attempted to examine the intention to act in an unethical manner among the economics and business students in Universitas Gadjah Mada by applying the Theory of Planned Behaviour. Attitude, subjective norms, perceived personal outcome, perceived social acceptance, and perceived behavioural control were included in predicting this intention. A total of 208 students participated in the main investigation. Using ordinal regression, 3 hypothetical unethical situations were proposed to measure the students’ intended behaviour: (1) having the class attendance list signed by a classmate; (2) cheating in an examination or quiz; and (3) knowingly plagiarising someone else’s work. The results confirmed that attitude was the strongest predictor of a student’s intention to act in an unethical manner. The study findings also supported subjective norms as the second strongest predictor, which was followed by perceived personal outcome and perceived social acceptance as determinants of such behavioural intention. Meanwhile, the findings demonstrated that perceived behavioural control was the weakest predictor of intention. Analysis for each situation, implications for practitioners, specifically university teachers and education policy makers, and further research recommendations are also discussed.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-01-19 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6211
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 1 (2014): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6212
2018-07-25T06:13:23Z
jieb:ART
nmb a2200000Iu 4500
"140119 2014 eng "
2338-5847
2085-8272
dc
EARNINGS ANNOUNCEMENTS AND COMPETING INFORMATION: THE INDONESIAN EVIDENCE
Sulistiawan, Dedhy
Universitas Surabaya
Hartono, Jogiyanto
Universitas Gadjah Mada
Tandelilin, Eduardus
Universitas Gadjah Mada
Supriyadi, Supriyadi
Universitas Gadjah Mada
Array
The main purpose of this study is to provide empirical evidence of the relationship between investors’ responses to two events, which are, (1) earnings anouncements, and (2) technical analysis signals, as competing information. This study is motivated by Francis, et al. (2002), whose study used stock analyst’s recommendations as competing information in the U.S stock market. To extend that idea, this study uses technical analysis signals as competing information in the Indonesian stock market. Using Indonesian data from 2007-2012, this study shows that there are price reactions on the day of a technical analysis signal’s release, which is prior to earnings announcements. It means that investors react to the emergence of competing information. Reactions on earnings announcements also produce a negative relationship with the reaction to a technical analysis signal before an earnings announcement. This study gives evidence about the importance of technical analysis as competing information to earnings announcements.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-01-19 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6212
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 1 (2014): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6213
2018-07-25T06:15:32Z
jieb:ART
nmb a2200000Iu 4500
"140119 2014 eng "
2338-5847
2085-8272
dc
ACCOUNTABILITY AND PERFORMANCE: EVIDENCE FROM LOCAL GOVERNMENT
Nisriani Manafe, Mesri Welhelmina
Artha Wacana Christian University
Akbar, Rusdi
Universitas Gadjah Mada
Array
Local government accountability attracts attention since the issuance of the Presidential Instruction Number 7 of 1999 on Accountability Reporting of the Performance of Government Institutions (Instruksi Presiden No. 7 Tahun 1999 tentang Laporan Kinerja Instansi Pemerintah). In practice, this accountability is not as was expected. One indication of the causal factor of the failure of the accountability implementation program is that it is considered as an obligation to describe and to justify the behavior of the accountability actors. The objective of this study is to empirically examine the correlation between the requirements of various types of accountability with negative perception of the work context and the work performance of the accountability actors. It contributes to the empirical evidence for the correlation among the various types of accountability obligation and the work performance based on the institutional theory with mixed method, which is a quantitative approach with PLS and a qualitative approach with thematic analysis. Its samples are 201 SKPD officers in the local government of Nusa Tenggara TimurProvince. The results of the study show that the conflict in the accountability requirement has significant impact on the work context with negative perception at different levels, but does not have any significant impact on the work performance of the accountability actors.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-01-19 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6213
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 1 (2014): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6214
2018-07-25T06:18:20Z
jieb:ART
nmb a2200000Iu 4500
"140119 2014 eng "
2338-5847
2085-8272
dc
CAN PRODUCT LEADERSHIP BE A PREDICTOR OF A CUSTOMER’S LOYALTY?
Santosa, MS. Eric
Universitas Stikubank
Array
Leading companies commonly employ a particular strategy to cover a market. They might choose product leadership, service support excellence, customer intimacy strategy, as well as a combination of them. The use of these strategies is obviously to gain more customers, since the product becomes a choice as an effect of the brand equity strengthening. While firms are very concerned with customer loyalty to maintain a stable sales volume, a question arises whether the brand equity has an effect on the customer’s loyalty. Logically, if a strategy can develop the product’s brand equity which in turn propels cutomers to buy it, it will hopefully improve customers’ loyalty as well. Therefore, this study is designed to answer the questions, (1) which strategy (among the three) adds power to the brand equity, (2) the brand equity is influential to the customer’s loyalty, and (3) the product leadership can predict the customer’s loyalty. Three antecedents of brand equity are employed, i.e. product leadership, service support excellence, and customer intimacy. These three variables, along with brand equity can also indicate as predictors of customer’s loyalty. A sample consisting of 100 respondents withdrawn through a judgment method. Data were analyzed by Amos 5.0 and SPSS 16.0. The results denote that the relationships between product leadership and customer intimacy to brand equity, also brand equity to customer’s loyalty are significant. On the contrary, the relationship of service support excellence to brand equity and the relationship of product leadership to customer’s loyalty are trivial.
Faculty of Economics and Business, Universitas Gadjah Mada
2014-01-19 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6214
Journal of Indonesian Economy and Business (JIEB); Vol 29, No 1 (2014): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6215
2017-10-27T03:04:47Z
jieb:ART
nmb a2200000Iu 4500
"130902 2013 eng "
2338-5847
2085-8272
dc
PUBLIC FIRM'S BACKGROUND ON THE PERFORMANCEGOVERNANCE RELATION: EVIDENCE FROM INDONESIA
Setiawan, Kusdhianto
Universitas Gadjah Mada
Junarsin, Eddy
Universitas Gadjah Mada
Yuliati, Sri Handaru
Universitas Gadjah Mada
This study purports to test two governance issues in Indonesian listed firms. To explore corporate
governance mechanisms in Indonesia, we ought to understand that listed firms on the
Indonesian capital market came from two initial business backgrounds: (1) private firms, which
had been private businesses before going public; and (2) Badan Usaha Milik Negara (stateowned
enterprises), which were owned by the Indonesian government and managed by
government-appointed management. Although both types of the firms have gone public, their
differences might remain intact, such as differences in size, lines of business, market share, and
the efficiency of corporate governance. Using 442 raw sample from all firms listed on the
Indonesian Stock Exchange during 2003-2012, we find that governance characteristics and
performance relation does differ between previously SOE firms and previously private firms.
However, we do not find evidence of distinct financial performance between previously SOE
firms and previously private firms.
1 Corresponding author. We are grateful for the research
grant provided by the Faculty of Economics and Business,
Universitas Gadjah Mada.
Keywords: SOE firms, private firms, corporate governance, firm performance, firm background
Faculty of Economics and Business, Universitas Gadjah Mada
2013-09-02 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6215
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 3 (2013): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6216
2017-10-27T03:03:58Z
jieb:ART
nmb a2200000Iu 4500
"130902 2013 eng "
2338-5847
2085-8272
dc
THE INFLUENCE OF INDIVIDUAL AND SITUATIONAL FACTORS ON LOWER-LEVEL CIVIL SERVANTS’ WHISTLE-BLOWING INTENTION IN INDONESIA
Winardi, Rijadh Djatu
Universitas Gadjah Mada
The purpose of this research is to examine empirically the influence of individual and
situational factors on the whistle-blowing intentions among lower-level civil servants in Indonesia.
This research proposes a conceptual model where individual and situational factors influence
the whistle-blowing intention among lower-level civil servants. More precisely this study
used three variables as individual factors based on the theory of planned behaviour (the attitude
toward whistle-blowing, the subjective norm, and the perceived behavioural control).
Two vignettes were used to manipulate three situational factors (the seriousness of wrongdoing,
the status of the wrongdoer, and the personal cost of reporting). A survey questionnaire was
distributed to 106 civil servants from government institutions in Indonesia by using convenience
sampling. There are six hypotheses that were tested by using multiple regression analysis.
This research found that individual and situational factors successfully predicted a whistleblowing
intention. Specifically, research results indicate there are five antecedents of whistleblowing
intention among lower-level civil servants in Indonesia labelled: the attitude toward
whistle-blowing, the subjective norm, the perceived behavioural control, the seriousness of
wrongdoing, and the status of the wrongdoer. Further implications for practice and research
are also discussed.
Keywords: whistle-blowing intention, lower-level civil servants, theory of planned behaviour,
individual factors, situational factors.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-09-02 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6216
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 3 (2013): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6217
2017-10-27T03:03:30Z
jieb:ART
nmb a2200000Iu 4500
"130902 2013 eng "
2338-5847
2085-8272
dc
INSTITUTIONAL AND SPATIAL EFFECTS ON MANUFACTURING PERFORMANCE IN CENTRAL JAVA PROVINCE: THE NEW INSTITUTIONAL ECONOMICS AND THE NEW ECONOMIC GEOGRAPHY PERSPECTIVE
Ahmad, Abdul Aziz
Universitas Jenderal Soedirman
Soepono, Prasetyo
Universitas Gadjah Mada
Jaya, Wihana Kirana
Universitas Gadjah Mada
In the economic view, the manufacturing sector is important in relationship to its role in economic
growth and the whole economy. This empirical work examines why manufacturing disparity
exists, and what institutional and spatial factors empirically have an important effect on
the manufacturing sector development in Central Java Province, Indonesia. The variables that
are identified that have an influence on the manufacturing performance are ethno linguistic,
legal rules, bureaucratic financial performance, democracy, city fascination, regional location
index, the manufacturing base, infrastructure, the labor force, the intermediary finance institution
and the types of regional administration (regency and city). To analyze it, this research
uses the spatial econometric method on its methodological analyses. It is used to reduce the
potential problem that arose in the cross section and panel data which had spatial interaction,
and spatial structure. This empirical work shows that all of the institutional variables have
positive and significant effects on the dependent variable. The other result is that every spatial
variable also tends to have a positive and significant impact on manufacturing development.
For economic policy, labor activity, the roles of financial intermediaries and infrastructure
variables also have a positive effect on the manufacturing development.
Keywords: manufacturing disparity, spatial econometrics, institutional, ethno linguistic,
regional location index
Faculty of Economics and Business, Universitas Gadjah Mada
2013-09-02 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6217
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 3 (2013): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6218
2017-10-27T03:02:43Z
jieb:ART
nmb a2200000Iu 4500
"130902 2013 eng "
2338-5847
2085-8272
dc
CRITICAL OUTLOOK AT SPECIAL ECONOMIC ZONE IN ASIA: A COMPARISON BETWEEN INDONESIA, MALAYSIA, THAILAND AND CHINA
Wahyuni, Sari
Universitas Indonesia
Astuti, Esther Sri
Student at Mastrich University, the Netherlands
Utari, Karina Miaprajna
Managing Director SKY MAP
Special Economic Zones (SEZ) have been proven to help countries in fostering economic
growth. The aim of this research is to try to help the government to improve SEZ policies in
Indonesia by providing a benchmark with other SEZ countries in China, Malaysia, and
Thailand. While China has the most established SEZ program, Malaysia and Thailand also
have highly-regarded SEZs and investment incentives. These neighboring countries have
developed SEZs in significant quantities but the greatest returns have come from a subsection of
large-scale zones with favorable locations, good planning and access to resources. Thailand
has a smaller number of zones, but a higher rate of successful zones, such as the automobile
cluster which became the anchor of automotive production in Asia. How Indonesia’s position
compares to these three Asian countries is the main question of this study.
Keywords: special economic zone, foreign investment, benchmarking, competitiveness, China,
Malaysia, Thailand
Faculty of Economics and Business, Universitas Gadjah Mada
2013-09-02 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6218
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 3 (2013): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6219
2018-11-09T06:56:35Z
jieb:ART
nmb a2200000Iu 4500
"130902 2013 eng "
2338-5847
2085-8272
dc
CONSERVATISM AND THE COST OF EQUITY CAPITAL: A MULTI-DIMENSIONAL MEASUREMENT APPROACH
Gamaliel, Hendrik
Universitas Sam Ratulangi
Sugiri, Slamet
Universitas Gadjah Mada
Array
Conservatism is a permanent phenomenon and issue in the accounting practice. It has been
developing in two forms, ex ante and ex post, measured in various ways—the accruals,
valuation model, and book-to-market measures. Prior studies document inconclusive findings
on the association between conservatism and the cost of equity capital. These inconsistent
findings motivate us to examine whether the various measures of conservatism have different
effects on the relationship between conservatism and the cost of equity capital. We
find that the accruals measure explains the relationship, while the valuation model and
book-to-market measures do not. Our findings suggest that different measures of conservatism
relate differently to different articulations. Researchers, therefore, should be cautious in
interpreting the relationship between conservatism and the cost of equity capital.
Keywords: ex ante and ex post conservatism, cost of equity capital, various measures of
conservatism
Faculty of Economics and Business, Universitas Gadjah Mada
2013-09-02 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6219
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 3 (2013): September
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6220
2018-07-26T09:15:38Z
jieb:ART
nmb a2200000Iu 4500
"130902 2013 eng "
2338-5847
2085-8272
dc
ASYMMETRIC INFORMATION IN THE IPO UNDERWRITING PROCESS ON THE INDONESIA STOCK EXCHANGE: PRICING, INITIAL ALLOCATION, UNDERPRICING, AND PRICE STABILIZATION
Utamaningsih, Arni
Politeknik Negeri Padang
Tandelilin, Eduardus
Universitas Gadjah Mada
Husnan, Suad
Universitas Gadjah Mada
Sartono, R. Agus
Universitas Gadjah Mada
Array
This study examines the IPO trading based on asymmetric information among heterogeneous investors. An underwriter plays an active role in the process of the IPO where underpricing is a central issue. The underwriter(s) manages the IPO trading by determining the offered price range and a discriminatory treatment between institutional and individual investors. The underwriter prioritizes institutional investors, especially when they show strong buying interests at the time of book building. The results prove that underpricing is higher when the IPO pricing is closer to the upper limit of the price range. We find that underpricing is higher when the allocation of shares to institutional investors is larger.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-09-02 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6220
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 3 (2013): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6221
2018-11-12T05:40:48Z
jieb:ART
nmb a2200000Iu 4500
"130505 2013 eng "
2338-5847
2085-8272
dc
CONVERGENCE OF INCOME AMONG PROVINCES IN INDONESIA,1984-2008: A PANEL DATA APPROACH
Kharisma, Bayu
University of Padjadjaran, Bandung
Saleh, Samsubar
University of Gadjah Mada
Array
This paper aims to analyze the income dispersion and test both absolute convergence and conditional convergence of income among 26 provinces in Indonesia during 1984- 2008 using static and dynamic panel data approach. Using the σ convergence analysis indicated that income dispersion measured by coefficient variation occurred in 1984-2008 generally experienced fluctuation. Factors influencing income dispersion rate were the impact of the economic crisis, the period of fiscal decentralization in Indonesia, the impact of the Bali bombing, impact of rising fuel prices in October 2005 and the earthquake in Jogjakarta and Central Java. Dynamic panel data estimation with system GMM produced an efficient and consistent estimator to overcome the problems of instrument validity. In addition, it is also dedicated to minimize the risk of bias due to endogeneity problem. There was a strong indication of the existence of absolute convergence and conditional convergence among 26 provinces in Indonesia during 1984-2008. Thus, there was evidence that the economy of poorer provinces tends to grow faster compared to the more prosperous provinces, and this progress meant that there was a tendency to catch up. Based on the system GMM estimation, it is found that the provinces in Java havefaster speed of convergence comparatively to those outside Java.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-05-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6221
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 2 (2013): May
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6222
2018-11-12T05:40:48Z
jieb:ART
nmb a2200000Iu 4500
"130505 2013 eng "
2338-5847
2085-8272
dc
THE EFFECT OF SOCIAL CAPITAL ON LOAN REPAYMENT BEHAVIOR OF THE POOR (A Study on Group Lending Model (GLM) Application In Islamic Microfinance Institution)
Sanrego, Yulizar D.
Institute for Research and Community Empowerment (IRCE)
TAZKIA University College of Islamic Economics
Antonio, M. Syafi’i
Department of Islamic Economics
TAZKIA University College of Islamic Economics
Array
Market failures in the financial system may be indicated by the absence of opportunities for the poor to get financial services. This also happens in the practice of Islamic banking. For this reason it is popping up a lot of non-market institutions - Islamic Microfinance Institutions (IMFi) is one of them which tried to cover up the weaknesses of banking practices. However, the development IMfi is not effective in alleviating poverty and not much different behavior from most banks. In turn, appear Islamic Microfinancebased groups in the hope of further empowering the poor and ensure that financial services can be viable and able to repay their loans with three main approaches that implemented simultaneously; (1) spiritual approach (2) financial approach and (3) social approach. This study wanted to prove empirically that Islamic Microfinance -based groups can ensure that the poor deserve to get financial services and are able to repay their loan on time. Using Structural Equation Model the study proved that Social Capital values which embedded within the Islamic Microfinance-based groups influence the behavior of the poor in repaying their debts. As a policy recommendation, Islamic Bank should consider to prefer Islamic Microfinance-based groups as partners in the realization of their linkage program for the poor so that poverty alleviation program can be optimally implemented.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-05-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6222
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 2 (2013): May
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6223
2018-11-12T05:40:48Z
jieb:ART
nmb a2200000Iu 4500
"130505 2013 eng "
2338-5847
2085-8272
dc
SELF EMPOWERMENT MODEL OF THE POOR IN IMPROVING SOCIAL WELFARE (Studies in the District of Alang-Alang Lebar Palembang, Indonesia)
Rohima, Siti
Sriwijaya University
Suman, Agus
Universitas Brawijaya Malang, Indonesia
Manzilati, Asfi
Universitas Brawijaya Malang, Indonesia
Ashar, Khusnul
Universitas Brawijaya Malang, Indonesia
Array
Poverty is a very complex problem. So many ways that has been done by the Government but not yet provide optimal results. Any measures taken to overcome poverty often only temporary. There needs to be alternative measures to alleviate poverty through the empowerment one. Self-empowerment for the poor in improving the standard of living and welfare research studies conducted in the District of Alang-Alang Palembang. This study is a qualitative study using interaksionime symbolic approach. In interaksionime symbolic of human behavior and interaction shown by the symbol and meaning, and should be able to translate the meaning and significance of the symbol. This research suggests a model of self-empowerment of the poor through social capital and internal self. In the self-empowerment, poor individuals may act as subjects rather than just the object of poverty reduction. Self-empowerment model in addition supported by a good social capital is also supported by internal self. Internal to include prayer, effort, initiative and tawakal. Self-empowerment is done individually capable of affecting every movement of the poor themselves are to change for improving the living standards and the shackles of poverty, but it can provide motivation to work harder and improve the ethical attitudes and work for productivity increases and is thus able to increase revenue. Empowerment supported by internal social capital and good self will bring individual creativity in doing self-empowerment. This condition can increase income and improve the lives of poor and better than ever before so that poor people more prosperous and achieve the expected welfare.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-05-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6223
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 2 (2013): May
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6224
2018-11-12T05:40:48Z
jieb:ART
nmb a2200000Iu 4500
"130505 2013 eng "
2338-5847
2085-8272
dc
DEVELOPING THE ENTREPRENEURSHIP INCUBATOR MODEL TO INCREASE STUDENTS INDEPENDENCE OF ENTREPRENEURSHIP MENTALITY
Suranto, Suranto
University of Muhammadiyah Surakarta
Rahmawati, Rahmawati
University of Sebelas Maret Surakarta
Array
This research aims to develop a model of entrepreneurial incubator for students in entrepreneurship learning. The model developed by the incubator includes: the empowerment of learners, the concept of problem, problem solution, through the structure of the incubator models doing, empowering, facilitating, and evaluating. This research was a research and development. The steps taken in the development of the model were: (1) designing a model, designing questionnaires, and validating the model, by measuring the goodness of fit; (2) testing the model to measure the applied model. In model validation, the data were collected from 130 students who got incubator treatment selection using the simple random sampling technique. The instrument used for data collection was a questionnaire. The data were analysied using the concept of SEM (Structural Equation Modeling). The method used in experimental field trials was the experimental group and control group (pretest-posttest control group design). The subjects of the tryout were 75 students of informatics engineering course who were not the subjects of the incubator program (the control group) and 75 students of chemistry education, chemistry, mathematics education, mathematics, biology education, and biology were referred to as the experimental group (program subject to the incubator). The data were collected through interviews and questionnaires. The data were analyzed using t-test trials to find out a significant difference in the behavior of the experimental group and control group. The results of the study of the entrepreneurship incubator model development is otherwise valid according to the probability (p) 0.0685, Goodness of Fit Model (GFI) 0.8256, Adjusted Goodness of Fit Index (AGFI) 0.7706, Comparative Fit Index (CFI) 0.9883, and the Root Mean Square Error of Approximation (RMSEA) 0.054. This model is considered effective because it can increase the independence of learners. The result of the confirmatory analysis (CFA) shows that each latent variable is proved to be formed by the manifests of one dimension. The model is applied to have a positive impact on enhancing the
students tendency in mental independence, after receiving treatment assistance incubators. Latent variable-power is reflected by the manifest: (a) the technical capabilities in writing, (b) awareness for entrepreneurship, (c) motivation for entrepreneurship, (d) the excess of self to self-employed, (e) the lack of self to self-employed, (f) access to other party to entrepreneurship, and (g) networking for entrepreneurship. While professionals have a manifest latent variables: (a) believing in themselves to entrepreneurship, (b) being independent for entrepreneurship, (c) being resilient and determined to entrepreneurship, (d) perseverance up to entrepreneurship, (e) writing creatively on entrepreneurship. Manifest variables in the form of mental self-reliance has increased after the mentoring model of entrepreneurial incubator. This suggests that the better the model of mentoring incubator, the better it will form a mental model of the entrepreneurial independence.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-05-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6224
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 2 (2013): May
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6225
2018-11-12T05:40:48Z
jieb:ART
nmb a2200000Iu 4500
"130505 2013 eng "
2338-5847
2085-8272
dc
DETERMINANTS OF EMPLOYEES’ ATTITUDE TOWARD UNION MEMBERSHIP (Study Case In A Logistics Company In Indonesia)
Dewantoro, Ranggapati Siswara
Universitas Indonesia
Sobri, Riani Rachmawati
Universitas Indonesia
Syaebani, Muhammad Irfan
Universitas Indonesia
Array
This research examines the determinants of employees’ attitude toward union membership. These factors are represented by job-related predictor such as; employees’ job dissatisfaction, job stress, and consultative managerial style. Apart from these job-related predictor variables, the cultural orientation played a role in this research such as; individualism and collectivism both horizontal and vertical. After performing resgression testing, the result shows that almost all variables are affecting employees’s attitude toward union membership except horizontal collectivism variable.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-05-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6225
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 2 (2013): May
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6226
2018-11-12T05:40:48Z
jieb:ART
nmb a2200000Iu 4500
"130505 2013 eng "
2338-5847
2085-8272
dc
PERSONALITY AND COGNITIVE FACTORS IN INFORMATION SYSTEM MIGRATION PROCESS
Abdillah, Willy
Universitas Bengkulu
Array
This study predict potential resistance of IT adoption from perspective of cognitive and personality. Research conducted on 30 employees of PT. Berau Coal and 54 employees of PDAM Boyolali who are undergoing the process of migration of ERP and e-billing. Nonprobability sampling procedure was using in this research with purposive-judgment techniques. Primary data retrieved through a questionnaire with a closed question format. Hypothesis testing conducted using Partial Least Square with software applications 2.0.M3 version SmartPLS. The results show only the cognitive factors have positively influence on intention to adopt ERP and e-billing. This finding reinforces that the development of IT adoption theory will lead to perceptual factors. Also, this finding indicates that the employees of PT. Beraucoal and PDAM Boyolali have great intentions to use IT in term of ERP and ebilling migration process. Managerial implication and further researches are discussed.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-05-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6226
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 2 (2013): May
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6227
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
ENVIRONMENTALLY ADJUSTED PRODUCTIVITY GROWTH OF INDONESIAN RICE PRODUCTION
Mariyono, Joko
Pancasakti University, Tegal
Array
Productivity of Indonesian rice agriculture needs to grow substantially to ensure national food security. However, the environmental cost should be taken into account. This study aims to analyse productivity growth of rice by decomposing it into technological change, scale effects, allocative efficiency and technical efficiency. Environmental cost associated with the use of environmentally detrimental inputs is internalised to obtain environmentally adjusted productivity growth. The result indicates that total factor productivity growth is driven by technological change and social efficiency effects. Environmentally adjusted productivity growth is less than conventional productivity growth. Some policies to increase the environmentally adjusted productivity growth are proposed.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6227
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6228
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
THE IMPACT OF EDUCATION ON ECONOMIC GROWTH IN INDONESIA
Reza, Faizal
Universitas Gadjah Mada
Widodo, Tri
Universitas Gadjah Mada
Array
Does education promote economic growth? The aim of this study is to find out the impact of education on economic growth in Indonesia. This research employed panel data technique to investigate the relationship between education and economic growth in Indonesia during the period 1996-2009. The empirical results show that education per worker has a positive and significant impact on economic growth. The estimates of panel model suggest that a 1% increase in average education per worker will lead to about 1.56% increase in output. By using instrument analysis, researchers found that Jawa Timur is a province with highest economic growth in Indonesia. In contrast, Bengkulu experiences the lowest position with the lowest economic growth. The results show us that there are still substantial disparities within the provinces in Indonesia.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6228
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6229
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
SPATIAL SMALL AREA ESTIMATION FOR DETERMINATION OF UNDERDEVELOPED VILLAGES IN THE PROVINCE OF YOGYAKARTA (DIY) IN 2011
Husna, Lilis Nurul
Badan Pusat Statistik (BPS) RI
Sarpono, Sarpono
Badan Pusat Statistik (BPS) RI
Array
Indonesia's poverty alleviation programs are implemented by two approaches target, those are the pockets (areas) of poverty and the poor households. Related with poverty alleviation programs targeting poor areas, in the Medium Term Development Plan (RPJM) 2010-2014, the government through the Development Backward Areas Ministry (KPDT) has determined the backward or underdeveloped regions at the level of district/city. There is no district/city in the province of Yogyakarta (DIY) are classified as underdeveloped region, but in 2011 the poverty rate in DIY is the highest compared with other provinces in Java and Bali. Therefore, the classifications of underdeveloped areas are not optimal if applicable only within the district, but it needs to be seen in the smaller scope, such as village. The main purpose of this study is to determine the underdeveloped villages in DIY in 2011. The average per capita household expenditure is a key indicator in measuring poverty. Susenas data can only be used to estimate the average per capita household expenditure to the level of district. Therefore, to obtain the estimated value in village level, this study used Small Area Estimation approach by combining census data (Podes 2011) and survey data (Susenas 2011). This study used Geographically Weighted Regression (GWR) with Adaptive Gaussian Kernel Bandwidth weighting function. GWR is a linear regression model that produces the local parameters in all locations. GWR parameters estimated are performed by Weighted Least Squares (WLS) method which involving spatial aspects. The results found that there were 13 underdeveloped villages in DIY. Furthermore, the Local Indicator of Spatial Association (LISA) is used to look at the tendency of cluster in underdeveloped villages. Then, maps are used to compare characteristic of underdeveloped villages among others.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6229
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6230
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
THE INFLUENCE OF INFORMATION, ORGANIZATIONAL OBJECTIVES AND TARGETS, AND EXTERNAL PRESSURE TOWARDS THE ADOPTION OF PERFORMANCE MEASUREMENT SYSTEM IN PUBLIC SECTOR
Wijaya, Anthonius H. Citra
Cendrawasih University
Akbar, Rusdi
Universitas Gadjah Mada
Array
This research studies the use of performance measurement systems (PMS) in public sector. It provides empirical evidence on the influencing factors determined by the use of PMS in Indonesian local government. Institutional theory, especially institutional isomorphism, is utilized as a theoretical lens to further explain the findings. The factors under examination are information, goals and objectives of the organization and external pressure. The context of the study is the Provincial Government of Yogyakarta (including Bantul, Gunungkidul, Kulonprogo, Sleman, and the City of Yogyakarta). This research uses mixed research method and employs Partial Least Square (PLS) and Thematic Content Analysis (TCA) to analyze and interpret the data. The results shows that information and external pressures have a positive and significant effect on the use of PMS in local government operations. In turn, information regarding incentive has a positive and significant effect on the use of PMS. In short, goals and objectives of the organization, information and external pressures influence the use of PMS.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6230
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6231
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
PROSPECTOR-DEFENDER STRATEGY, AUDITOR INDUSTRY SPECIALIZATION, EARNINGS MANAGEMENT THROUGH REAL ACTIVITIES, AND EARNINGS QUALITY
Andayani, Wuryan
Brawijaya University, Malang
Warsono, Sony
Universitas Gadjah Mada
Array
This study observed the influence of the company prospector-defender strategy and auditor industry specialization toward the earnings management through real activities and earnings quality. An important finding in this study confirmed that the auditor industry specialization could not restrict the earnings management and the company‘s prospector strategy could restrict the earnings management. On the contrary, defender strategy could not restrict the earnings management. Another finding proved that the auditor industry specialization influence the earnings response coefficient (ERC) and investors’ response. Besides the auditor industry specialization, as well as the prospector and defender strategies, other factors also affected influence ERC are leverage, company size, stock return, beta and market return. The interaction among the prospector and defender strategies and unexpected earnings neither influence the CAR nor the investors’ response. This was probably because the investors pay attention to the strategy used by the company. However, there were any interaction variables: industry specialization auditor, leverage, stock return, beta and market return influence the CAR and investors’ response.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6231
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6232
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
INTERACTIONS AMONG INSIDER OWNERSHIP, DIVIDEND POLICY, DEBT POLICY, INVESTMENT DECISION, AND BUSINESS RISK
F., Indri Erkaningrum
ASMI Santa Maria Yogyakarta
Array
The study of interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk is still conducted. This research aims at investigating the influencing factors of insider ownership, dividend policy, debt policy, investment decision, business risk, and the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk. The samples of the research are 137 manufacturing companies listed in the Indonesia Stock Exchange from the year 2006 to 2010. The three stages least square simultaneous equation model is used to analyze the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk. The analysis result of insider ownership equation shows that investment, business risk, and size have negative influence on insider ownership. Insider ownership, debt and business risk give negative impact to dividend that is shown on equation of dividend. Negative impact of dividend, business risk, and profitability to debt is shown on equation of debt. The analysis result of investment equation shows that insider ownership and business risk have negative influence on investment, whereas profitability and sales growth have positive influence on investment. The analysis result of business risk equation shows that insider ownership, dividend, investment, and size have negative influence on business risk, whereas variability of earnings has positive influence on business risk. The analysis result of the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk shows that: 1) there are reciprocal interactions among insider ownership, investment, and business risk; 2) there are reciprocal interactions between dividend and debt; 3) there are reciprocal interactions between dividend and business risk; 4) insider ownership influences dividend; 5) business risk influences debt. The empirical evidence of interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk helps the companies to make financial policy minimize agency problem.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6232
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6233
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
THE ROLE OF TECHNOLOGY IN REGIONAL DEVELOPMENT: TFP AND ECONOMETRICS ANALYSIS
Aritenang, Adiwan F.
Regional Technology Researcher Agency for Assessment and Application of Technology Indonesia
Array
The development in Indonesia regions has been unbalance over the years. In Indonesia, significant differences on local governance capacities and natural resources lead to variation of regional economic development. Following economic theory, technology and innovation are expected to solve regional unbalanced development through optimizing local endowments and human capital. This paper aims to explore the role of technology and knowledge in regional economic development. The total factor productivity (TFP) measurement and econometrics analysis are conducted to explore technology contributions on regional economic development in Indonesia regions. The paper finds that technology level contributes significantly to economic growth, complementary with manufacturing industry. In addition, regional expenditure on education and research and development (R&D) are insignificant to economic growth. These findings confirm the role of industries in regional economic development.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6233
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6234
2018-11-12T06:11:43Z
jieb:ART
nmb a2200000Iu 4500
"130101 2013 eng "
2338-5847
2085-8272
dc
ACCOUNTING FUNDAMENTALS AND VARIATIONS OF STOCK PRICE: METHODOLOGICAL REFINEMENT WITH RECURSIVE SIMULTANEOUS MODEL
Sumiyana, Sumiyana
Universitas Gadjah Mada
Baridwan, Zaki
Universitas Gadjah Mada
Array
This study investigates association between accounting fundamentals and variations of stock prices using recursive simultaneous equation model. The accounting fundamentals consist of earnings yield, book value, profitability, growth opportunities and discount rate. The prior single relationships model has been investigated by Chen and Zhang (2007), Sumiyana (2011) and Sumiyana et al. (2010). They assume that all accounting fundamentals associate direct-linearly to the stock returns. This study assembles that all accounting fundamentals should associate recursively.
This study reconstructs the model and found that only the first two factors could influence stock returns directly, while the three remaining factors should relate precedently to the earnings yield and book value. This study suggests that new reconstructed relationships among accounting fundamentals could decompose association degree between them and the movements of stock prices. Finally, this study concludes that this methodological refinement would improve the ability of predicting stock prices and reduce stock price deviations. It implies that accounting fundamentals actually have higher value relevance in the new recursive simultaneous equation model than that in single equation model. It also entails that relationship decompositions revitalize the integration of the adaptation and the recursion theories.
Faculty of Economics and Business, Universitas Gadjah Mada
2013-01-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6234
Journal of Indonesian Economy and Business (JIEB); Vol 28, No 1 (2013): January
eng
Copyright (c) 2013 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6235
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
INFRASTRUCTURE IMPROVEMENT AND ITS IMPACTS ON THE INDONESIAN ECONOMIC PERFORMANCE
Irawan, Tony
Bogor Agricultural University
Hartono, Djoni
University of Indonesia
Irawan, Ferry
Fiscal Policy Office – the Ministry of Finance
Yusuf, Arief Anshory
Padjadjaran University
Array
Indonesian government shows their big commitment on the improvement of infrastructure which is reflected in some regulations and policies made. It is supported by many empirical evidences that show the importance of infrastructure improvement on the economic performance. This paper developed a Computable General Equilibrium (CGE)
model to analyze the impacts of infrastructure on the Indonesian economy by introducing several types of infrastructure and discussing the impacts of it on the poverty level. The results suggest that improvement on any types of infrastructure is expected to increase the economic growth, raise the government revenue, raise the factors’ income and reduce the poverty level. Improvement on the public work of agriculture, land transportation and telecommunication are still being preferable options comparing to others. Interestingly, even though the public work of agriculture is usually located in rural areas, the model suggests that the improvement on this sector will result higher impact on the urban household rather than to the rural household.
Keywords: infrastructure, CGE, policy, poverty.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6235
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6236
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
BANK RISK AND MARKET DISCIPLINE
Taswan, Taswan
STIKUBANK University
Tandelilin, Eduardus
Universitas Gadjah Mada
Husnan, Suad
Universitas Gadjah Mada
Hanafi, Mamduh M.
Universitas Gadjah Mada
Array
This paper investigates the issue of bank risk taking. Specifically we investigate two main issues: (1) determinants of bank risk, and (2) market discipline to the banks either in implicit, explicit guarantee systems, and all periods. Using Indonesian data, we find that domestic, foreign, and ownership concentration have positive impact on bank risk. Bank shareholders engage in entrenchment behaviour, rather than convergence behaviour. We further find that charter value and compliance to regulation have negative impact on bank risk. Next, we find that market disciplines the banks. Market disciplines the banks at the
same degree in implicit and explicit deposit guarantee systems. Our findings highlight the importance of paying close attention to banks ownership, charter value, and compliance to regulation. Furthermore, since we find that market disciplines the Banks at the same degree in explicit and implicit guarantee systems, we need to investigate this issue further.
This finding highlights research potential in the future: to investigate disciplining behaviour from various types of depositors.
Keywords: bank ownership, market discipline, risk, entrenchment, convergence, and deposit insurance
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6236
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6237
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
PRIVATE INFORMATION ARRIVAL AT INDONESIA STOCK EXCHANGE, REALITY OR IMAGINARY? U-SHAPED RETURN VARIANCE CURVE VERIFICATION
Mihardjo, Setiyono
Universitas Gadjah Mada
Sumiyana, Sumiyana
Universitas Gadjah Mada
Array
This research investigates occurrence of private information arrival in Indonesia Stock Exchange (IDX). The occurrence comes from overnight nontrading session as well as lunch-break hour. Lunch-break return variance decreases two times in comparison with early morning and lately afternoon return variances. This variance is due to private information arrival. This study finds that opening prices form the full day U-shape. It means that opening price causes stock mispricing. It also be concluded that lunch-break session produces the bottom line on the U-shape to move downward. U-shaped curve during morning until the end-afternoon session occurs. Therefore, the line formation
implies the existence of private information arrival that is in short-lived.
Keywords: U-shaped curve, private and public information
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6237
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6238
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
SOCIAL CAPITAL IN NON-BARTER TRANSACTION CHAIN IN PASAR BLANTE KAWANGKOAN, NORTH SULAWESI PROVINCE
Kimbal, Rahel Widiawati
Manado State University
Suman, Agus
Brawijaya University
Ashar, Khusnul
Brawijaya University
Manzilati, Asfi
Brawijaya University
Array
The research aims to find out the forms as well as the function of social capital in the chain of economic activity in Pasar Blante (Blante market), one of the traditional markets in Kawangkoan, North Sulawesi, particularly its non-barter transaction. This research employs phenomenology-qualitative research method by involving triangulation as the method of data gathering. Spradley Model is chosen to analyze data. The results of the research highlight kinds of social capital embodied in non-barter transaction in Pasar Blante which comprises trust, network, norms. These important factors are reflected in transaction chain involving many agents such as (1) the cattle’s owner; (2) maantung; (3) tukang blante; (4) cukong; and (5) the buyers.
The contribution of social capital on non-barter transaction among people involving in economic activity are embodied in (1) The transparent transaction resulting in lower information
cost among people taking part in that activity; (2) Free information access which enables them to obtain credible information on getting qualified cattles with highly economical value; (3) Appreciation on someone’s ownership shown in high-sense of belonging and responsibility on
taking care all cattles in Pasar Blante without additional charge; (4) Commitment on contact agreement which minimizes the cancellation on transaction; (5) The transaction needs no written document which legalizes the ownership of the buyer; (6) The availability of cattle’s food which in turn reduces the cattle’s food consumption cost; (7) Fast access on marketing which is supported by all parties involving in the transaction as well as all elements of society. Moreover, this research elucidates that non-barter transaction also support other transactions such as barter transaction and trade-in transaction. Finally, this non-barter transaction proves to be contributive to increase the local revenues and generates the economic activity in the area.
Keywords: social capital, traditional market, transaction, chain, non-barter.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6238
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6239
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
A CROSS-CULTURAL STUDY ON THE VALUE STRUCTURE OF MOBILE INTERNET USAGE: COMPARISON BETWEEN INDONESIA AND JAPAN
Wardani, Ranti Yulia
STIE YKPN, Yogyakarta
Warsono, Sony
Universitas Gadjah Mada
Array
The number of mobile Internet users has been growing rapidly worldwide. Access to the Internet via mobile cellular networks has also grown rapidly. The effects of different
culture of mobile Internet would be interesting to be investigated. The research objective is to investigate the usage pattern differences of mobile Internet users in Indonesia and Japan and to interpret them within the framework of a value structure. The data collection technique used in this study was the survey method. The same questionnaire written in mother language of each country was given to respondents in Japan and Indonesia directly. The result shows that value structures (functional value, emotional value, social value, and monetary value) simultaneously affect the satisfaction of mobile Internet usage of Indonesian respondents, which affect the satisfaction of Japanese respondents. Social
value did not significantly affect the satisfaction of mobile Internet usage of Japanese respondents. The implications of cross-cultural differences of mobile Internet will be discussed in this paper. This paper will be ended with discussion, conclusion with practical implications and limitations.
Keywords: mobile Internet, cross cultural, m-commerce, Indonesia, Japan.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6239
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6240
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
HIDDEN ACTION IN THE CASE OF TAX DISPUTES IN INDONESIA
Dwiputri, Inayati Nuraini
Universitas Gadjah Mada
Array
This research aimed to conduct a study for tax dispute cases in Indonesia, which refers to the behavior of the Supreme Court’s verdict and indication of hidden action done by taxpayer in an effort to win tax disputes and to analyze the taxation regulations especially on the case of tax disputes. The research data are Supreme Court’s verdicts 2004-2010 on the tax disputes cases.
This research uses descriptive and logistic regression analysis. The result shows the Supreme Court’s verdict has different way of treating tax year, the length of processing
disputes, and the difference of calculation between taxpayers and tax apparatus. The analysis indicates that hidden action is done by taxpayers in an effort winning the tax disputes. The higher difference of calculation, the higher probability for taxpayers to win the tax disputes. The longer processing time of tax disputes on the level of Supreme Court the higher probability for taxpayers winning the disputes. This indicates the public functionary’s involvement in hidden action by taxpayers. The hidden action done can be in the form of corruption, collusion, and bribery. The analysis of taxation regulation indicates that Indonesian taxation regulations have not been implemented well and
deviation is still found.
From this research result and the reference to the previous researches, it is identified that the Indonesian government is required to do things such as: 1) promoting the quality
of tax apparatus either intellectually or through moral behavior; 2) promoting the obedience of taxpayer by promoting the benefits of paying tax especially for taxpayers; 3) inviting citizens/societies and social institution to fight against corruption; 4) promoting the obedience to the taxation regulation for taxpayers and tax apparatus; 5) designing a better taxation institution; 6) shortening the time for the process of disputes.
Keywords: hidden action, corruption, the Supreme Court’s verdict, taxpayers.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6240
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6241
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
REMINDER EFFECT AND ANCHORING-ADJUSTMENT IN EARNINGS ANNOUNCEMENT: IMPLEMENTATION OF PRIORPERIOD BENCHMARK DISCLOSURE STRATEGY
Wahyuni, Sri
STIE Mahardhika Surabaya
HM, Jogiyanto
Universitas Gadjah Mada
Array
The purpose of this study is to provide empirical support regarding the reminder effects and anchoring-adjustment in earnings announcements. This study is important to explain
the cognitive mechanism in processing the information that the consequences can affect the judgments of investors in evaluating company performance. The research of behavioral
accounting often focuses on the consideration in the framework of investment decision making mechanism based on a systematic and accurate. Prior researches have described strategic disclosure of prior-period benchmark in earnings announcement that focuses on the transitory gain or loss, which, in turn, influences investor’s judgments (Schrand & Walther 2000; Krische 2005). Using strategic reference-point theory from psychology and Hogarth & Einhorn’s (1992) belief-adjustment theory, this paper extends such research by investigating how investors behave differently to reminder effect and anchoringadjustment. The experimental results suggest that reminder effects and anchoring of information can influences investor’s judgments in evaluating of company performance.
Keywords: reminder effect, anchoring-adjustment, cognitive mechanism, strategic reference-point theory, belief- adjustment theory
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6241
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6242
2018-11-12T06:21:15Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
EFFECTIVENESS ANALYSIS OF “SHANGRI-LA ACADEMY PROGRAM” TOWARDS EMPLOYEES’ WORKING MOTIVATION AT SHANGRI-LA HOTEL SURABAYA
Fandianto, Lina
Universitas Kristen Petra
Sutanto, Eddy M.
Universitas Kristen Petra
Array
This research has taken place at Shangri-La Hotel Surabaya, an international management hotel. The population of research is 573 respondents. The purpose of this research is to understand the effectiveness of Shangri-La Academy Program and the employees’ working motivation at Shangri-La Hotel Surabaya. The analysis technique uses descriptive quantitative analysis. The result of research showed that there is a dependency between Shangri-La Academy Program and employees’ working motivation Shangri-La Hotel Surabaya.
Keywords: employee’s working motivation, Shangri-La Academy Program
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6242
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 3 (2012): September
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6243
2018-11-12T06:27:47Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
PSYCHOLOGICAL BIASES IN INVESTMENT DECISIONS: AN EXPERIMENTAL STUDY OF MYOPIC BEHAVIOR IN DEVELOPING CAPITAL MARKETS
Wendy, Wendy
Tanjungpura University, Pontianak
Asri, Marwan
Universitas Gadjah Mada
Array
This paper attempts to analyze the psychological biases that affect investors in making risky investment decisions based on the theory of Myopic Loss Aversion (MLA). The data
were obtained from two sources (students and stock investors) which in turn were manipulated by two types of treatment (frequent and infrequent), using a mixed design of betweenwithin subjects with a 2 x 2 factorial. The experimental result showed the consistency of the two groups of participants to the theory of the MLA. Analysis of the gender showed that the boldness levels of the male participants and female participants in the group of investors were the same, while in the student group, gender showed a significant influence. Other findings included a "shock-effect" experienced by the participants during the experiment.
Keywords: behavioral finance, myopic loss aversion, frequent-infrequent, gender, and shock-effect
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6243
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6244
2018-11-12T06:28:16Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
BANKING MARKET DISCIPLINE IN INDONESIA AN EMPIRICAL TEST ON CONVENTIONAL AND ISLAMIC BANK
Hasan, Hasan
Wahid Hasyim University
Tandelilin, Eduardus
Universitas Gadjah Mada
Array
A sound banking system is vital in supporting a sound and strong economy. One of the important pillars of a sound banking system is market discipline, which is the reaction of
the market makers on the risks taken by banks as a form of supervision and discipline. The objectives of this paper are to examine: (i) the existence of market discipline by depositors in the deposit insurance era by the Indonesia Deposit Insurance Corporation (LPS); (ii) the difference in market discipline by depositors before and after the policy of increasing the value of deposit covered; (iii) the difference between market discipline by depositors of Islamic banks with conventional banks. The data used are annually individual bank data from the Indonesian Banking Directory (DPI) in 2005-2009. The dependent variable is the change in deposits, which is used as proxy for market discipline in t period. The independent variables used are CAR, APB, NIM, and LDR as proxy of financial risk/fundamental condition of the bank in t-1 period. The result indicates the existence of
market discipline in Indonesia and also shows that market discipline is detected stronger in the period 2005-2007 than the period 2008-2009. This study also indicates that market
discipline by depositors of Islamic banks are stronger than those of conventional.
Keywords: market discipline, deposit insurance, Islamic and conventional banks.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6244
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6245
2018-11-12T06:28:51Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
MODEL OF POOR SOCIETY EMPOWERMENT THROUGH OPTIMIZING THE POTENTIAL OF ZAKAT: A Case Study in Lampung Province
Hayati, Keumala
Lampung University
Caniago, Indra
Informatics and Business Institute (IBI) Darmajaya
Array
Previous research found a large zakat potential in Lampung province that reached Rp 644 billion (opinion 2 percent from GDRP) and Rp1.3 trillions (opinion 4.3 percent from
GDRP). This potential could assist the government in tackling poverty. Based on this potential, further research was to design Model of Poor Empowerment through Optimizing
the Potential of Zakat.
The method used is a case study. There were five propositions developed, namely: (1) Optimization of the collection of zakat requires synergy role between LAZ/BAZIS (Zakat Executor Institution), government and society, (2) Empowerment Program of the poor through productive zakat by LAZ could be done by using Community-Based Development, (3) the distribution of zakat in the effort of empowering the poor requires synergy programs between LAZ and the government, (4) the appropriate organizational structure of LAZ is Geographic structure, and (5) Management of collection and distribution of zakat depends on a reliable information system.
The result shows that the role of government is as obligatory zakat regulator either to individuals, companies, and government agencies. Furthermore, Muzakki consisting of individuals, corporations and government agencies collected their zakat to LAZ/BAZIS. In the case of zakat distribution, government and LAZ should work together so the government's poverty reduction programs and LAZ empowerment of the poor program will be mutually synergistic and will not overlap each other. LAZ could also run the program of the Community-Based Development. The study also found LAZ should use geographical organizational structure. This structure allows the formation of decentralized LAZ regency/city. Further LAZ works need the support of a reliable information system.
Keywords: Empowerment of the poor, zakat potential, synergy between government and LAZ poverty reduction program, Community Based Development.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6245
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6246
2018-11-12T06:29:36Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
RELATED PARTIES’ TRANSACTION AND EARNINGS MANAGEMENT: A CASE IN INDONESIA
Sumiyana, Sumiyana
Universitas Gadjah Mada
Febrianto, Rahmat
Universitas Andalas
Array
This study investigates the association between related parties’ transactions and earnings management in Indonesia. Firm's executives officers accompanied by board of director members usually engage in related parties’ transactions to expropriate the firm’s resources. Therefore, they have incentives to manage earnings either to increase their
perquisites or possibly to mask such expropriation.
This study presents evidence that earnings management is positively associated with certain types of related parties’ transactions. Overall, this study concludes that concerns
about related parties’ transactions as a factor associated with earnings management are warranted, especially for certain related parties’ transactions. There are purchase costs from subsidiary or parent companies and expenses incurred from the firm’s related parties’ transactions.
Keywords: related parties’ transactions, perquisite, earnings management.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6246
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6247
2018-11-12T06:30:22Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
BAD NEWS ANNOUNCEMENT ON INVESTOR’S MONDAY IRRATIONALITY: INSIGHT FROM MALAYSIA
Brahmana, Rayenda
Universiti Sains Malaysia
Hooy, Chee-Wooi
Universiti Sains Malaysia
Ahmad, Zamri
Universiti Sains Malaysia
Array
The lack of empirical dossiers on the examination of the weekend effect causes intrigues us to investigate its determinant in the trading behaviour perspective. Employing
one traditional interaction dummy model, and one day-by-day model, we found the market index and size-based portfolios of weekend effect have been driven by the attention of investor. Further, under the attention bias hypothesis, we confirm that investor’s irrationality during Monday is the driver of the anomaly because of its heuristical bias judgment. We address the difficulties that investors face on searching the thousands of stocks they can potentially deal on the first trading day as the rationalization. In a short, our findings surmise that attention bias is the driver of investor irrationality on Monday and resulting Weekend Effect.
Keywords: weekend anomaly, bad news, attention bias, Malaysia stock market
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6247
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6248
2018-11-12T06:30:54Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
THE INFLUENCES OF JAVANESE CULTURE IN POWER OF MAKING DECISIONS IN INDONESIAN UNIVERSITIES: CASE STUDIES IN MM PROGRAMMES
Santoso, Budi
Universitas Gadjah Mada
Array
This study aims to explore the influence of Javanese cultural values in power of the processes of making decisions in the Indonesian university settings. The case-study method
is used in this study. The choice of particular universities in Yogyakarta and Surakarta to be studied is based on a number of criteria, namely, location in central Java, accredited and non-accredited institutions, similarity of programmes and the year of foundation, and ease of access by this study, to obtain one-to-one interviews. The findings show that Javanese cultural values, including loyalty to the top level of the hierarchy, obedience to superiors and the desire for conflict avoidance are power to control the decision-making processes in the universities. Furthermore, the practice of using that power is maintained because of social acceptance. However, the findings do not represent a model of the healthy institution in which autonomy and empowerment are emphasized on.
Keywords: Javanese culture, founding fathers, loyalty, obedience, seniority, and case study
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6248
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6249
2018-11-12T06:31:24Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
MOTIVATION AND CONSEQUENCE OF INDIVIDUAL’S INVOLVEMENT IN SOCIAL NETWORK SITES: A STUDY OF SOCIAL COMPUTING OF INTER COLLECTIVISTINDIVIDUALIST CULTURAL VALUE
Abdillah, Willy
Universitas Gadjah Mada
HM, Jogiyanto
Universitas Gadjah Mada
Handoko, Hani
Universitas Gadjah Mada
Array
This research aims to examine the empirical model of social computing. Research model is developed upon the social influence factors, technology acceptance model, psycho-social wellbeing, and culture value. Research design employed online survey questionnaire. Data of 433 samples were analyzed using Partial Least Square (PLS) technique. Results suggest that proposed model has met criteria of goodness-of-fit model and indicated that Identification and Compliant are the motivation factors of desire to involve in social network sites (SNS) and involvement in SNS predicts depression and loneliness. This research also finds that motivation of individual to involve in SNS and its impact are different among collectivist and individualist. Implications for stakeholders and further research are discussed.
Keywords: social computing, social influence factors, psychosocial wellbeing, social network sites, individual culture values, and PLS.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6249
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6250
2018-11-12T06:31:42Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
THE MODERATION EFFECT OF COMMITMENT TO SUPERVISOR AND INTERNET EXPERTISE ON WORK STRESSOR AND EMPLOYEE CYBERLOAFING: THE STUDY ON EMPLOYEE OF LOCAL GOVERNMENT OF SURAKARTA
Runing S., Hunik Sri
Sebelas Maret University
Cahyadin, Malik
Sebelas Maret University
Array
The aims of this study are to examine the effect of work stressor on employee cyberloafing, to examine the influence of the commitment to supervisor on employee cyberloafing, to examine the influence of work stressor on employee cyberloafing with commitment to supervisor as a moderating variable, and to examine the influence of work stressor on employee cyberloafing with internet expertise as a moderating variable.
Through purposive sampling method, 199 samples were taken from employees of local government. The employees have an internet access when doing their task. Data analysis using hierarchical regression analysis show that hypothesis 1a, 1b and 3f were supported.
The role ambiguity and role conflict has a significant positive effect on cyberloafing. It means, the higher the role ambiguity and the role conflict are, the higher employee
cyberloafing will be. Further, the higher the employee overload is, the higher the employee cyberloafing will be if they have high internet expertise.
Keywords: role ambiguity, role conflict, role overload, commitment, and cyberloafing.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6250
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 2 (2012): May
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6251
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
THE TRANSFER PROBLEM IN INDONESIA AND POLICY RESPONSES
Asmara, Amri Anjas
Fixed Income and Derivative Trading Division Indonesia Stock Exchange (IDX)
Array
This paper examines the implications of, and policy responses to the transfer problem phenomenon, which is the interaction between surging capital inflows and real exchange rate. In particular, this paper identifies three episodes of large net private capital inflow to Indonesia during 1995 - 2010. Episodes of large capital inflows are often associated with real exchange rate appreciations. In turn, these conditions could undermine economic competitiveness in terms of price.
This paper adopts theoretical framework that leads to test the long-run co-movements of real exchange rates and capital inflows. This long run relationship is modeled on the
cointegration framework. The Full-Modified Ordinary Least Square (FMOLS) is used to provide optimal estimates of cointegration regressions, dealing with endogeneity and
serial correlation effect in the regressors that result from the existence of the cointegrating relationships.
Controlling for relative output levels, degree of openness, and the terms of trade, time series empirical evidence presented evidence supporting the existence of a significant
transfer problem in Indonesia. Moreover, using disaggregated measure of inflows, this paper finds that portfolio investment has the most significant impact on REER appreciation
in Indonesia.
A comprehensive assessment of various policy responses to the transfer problem leads to two major conclusions. First, the problematic relationship between REER apreciation
and capital inflows would be more moderate in which the authorities exercised countercyclical fiscal. It means that greater fiscal restraint would also help ease pressures for real appreciation of the exchange rate. Second, aggressive sterilization could be the first line of defense against REER apreciation during surge of capital inflows.
Keywords: Transfer Problem, Real Effective Exchange Rate, Capital Inflows, Cointegration, Full-Modified Ordinary Least Squared (FMOLS)
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6251
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6252
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
EXPLORING THE INDONESIAN ECONOMIC LANDSCAPE AND STRUCTURAL CHANGE
Firdaus, Muhammad
Institut Pertanian Bogor
Kurniawan, Budi
Institut Pertanian Bogor
Mulatsih, Sri
Institut Pertanian Bogor
Array
In assessing the economic impact of a sector or a group of sectors on a single or multiregional economy, input-output analysis has been proven to be a popular method.
This paper explores the degree of structural change of the Indonesian economy using the input-output frame work. It examines how linkages among economic sectors have evolved from 1971-2008 and identifies which economic sectors exhibited the highest inter-sectoral linkages. The study finds that manufacturing consistently becomes the key sector in the Indonesian economy. Indonesian cannot afford to leapfrog the industrialization stage and largely depend on a service-oriented economy when the potential for growth still lies primarily in manufacturing. The graphical presentation of inter-industry relationship through the “Multiplier Product Matrix” (MPM) and its associated “economic landscape” provides a visualization of the Indonesian economic landscape for selected years and how it has changed over time.
Keywords: economic landscape, structural change, input output model, key sector
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6252
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6253
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
THE IMPACT OF MANUFACTURING CONCENTRATION ON REGIONAL INEQUALITY: A CASE OF REGENCY IN JAVA REGION, INDONESIA
Wahyudi, Setyo Tri
Brawijaya University
Jantan, Mohd Dan
Universiti Utara Malaysia
Array
Concentration of manufacturing is an interesting topic in location of economic activity since manufacturing was the leading sector in the Indonesian economy. The previous
studies demonstrated that firms were localized in major metropolitan areas as well as a set of emerging regions. The paper aim to complement the findings of the previous studies
related to geographical concentration of manufacturing industry by exploring the impact of manufacturing concentration on regional inequality in the regency in Java during the 1998-2007. The Theil index and the location quotient index are employed in order to analysis the inequality and the location of manufacturing industry in Java region.
The study found that the Theil index shows an increasing trend implying that the inequality of the manufacturing industry within regencies has increase. While, the inequality between regency shows a decreasing trend over the period of observation implying that the manufacturing industry in Java spreads only in several regencies. The location quotient index shows an increasing trend that reveals the economy of some regencies are more dependent in manufacturing industry and at the same time it shows that several new manufacturing areas has emerged in Java.
Keywords: concentration, inequality, manufacturing, Java region
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6253
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6254
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
MATRIX INDEX OF INCOME VARIETIES OF INDONESIAN LABOR FORCE AND ITS APPLICATION IN INDONESA
Canon, Syarwani
State University of Gorontalo
Array
Matrix Index of Income Varieties (MIVP) is an index, which is developed from the variety co efficiency and statistic χ2 so that it will produce output totally as shown by Index of Williamson/Theil, as regionally as Index of Theil, sectorally as Index of Gini.
Besides, Matrix Index of Income Varieties (MIIV) is able to identify which individual/ sector/region influence the draw of income inequalities above or below the average. In application, MIIV will produce a maximal outcome if it is combined with Labor Force Productivity Index.
The outcome of MIIV/MIVP in Indonesia shows that the high-income inequalities in Indonesia are influenced by the contribution of regional economy, regional labor force contribution, the characteristic of regional economic sector, and regional potentials of each province.
Keywords: income distribution, total, region, sector, regional sector
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6254
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6255
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
DOES LEGAL TRANSPLANTATION WORK? THE CASE OF INDONESIAN CORPORATE GOVERNANCE REFORMS
Harijono, Harijono
Universitas Kristen Satya Wacana Salatiga
Tanewski, George
Monash University
Array
This study examines the impact of corporate governance reforms by analysing the relation between firms’ operating performance and key ownership structure and corporate
governance variables on a sample of firms listed on the Jakarta Stock Exchange between the periods 1993 to 2007. Contrary to widespread belief that reforms in Indonesia have
failed, this paper provides empirical evidence in support of the positive impact of corporate governance reforms. While the impact of family control, the firms’ business group affiliation, divergence between cash flow and control rights and political connection are all negatively associated with firms’ operating performance (ROA) for the pre-reform
period (i.e., 1993-1999), these negative effects disappear during the post-reform period (i.e., 2001-2007), except for family control. More importantly, the relationship between
family control and operating performance is negative only when the family’s control right exceeds their cash flow right. This study provides some empirical evidence and insights to
both regulators and development assistance agencies on the effectiveness of Indonesian corporate governance reforms.
Keywords: corporate governance reform, controlling shareholders, firm performance, Indonesia
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6255
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6256
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
EXAMINING THE MODERATING EFFECT OF DEMOGRAPHIC FACTORS OF BOARD OF DIRECTORS ON THE ASSOCIATION BETWEEN CORPORATE GOVERNANCE AND EARNINGS MANAGEMENT
Tantri, Sakina Nusarifa
Universitas Gadjah Mada
Sholihin, Mahfud
Universitas Gadjah Mada
Array
This study aims to investigate whether corporate governance affects earnings management and if so whether such effect is moderated by age, gender, and educational
background of board of directors. Using Moderated Regression Analysis, this study examines a sample of 55 companies listed in the Indonesia Stock Exchange for the period of 2005 to 2009. The results show that corporate governance negatively affects earnings management. Further analyses reveal that the association is moderated by age, gender, and educational background of board of directors.
Keywords: corporate governance, earnings management, age, educational background, gender.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6256
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6257
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
THE SIGNIFICANCE OF ISLAMIC ECONOMICS STUDY IN DISCIPLINE OF MODERN ECONOMICS
Suryani, Suryani
STAIN Malikussaleh Lhokseumawe
Array
The development of Islamic economic practices in Indonesia shows an encouraging fact. Since the last fifteen years, the development of Islamic economic discourses in Indonesia has attracted the attention of many academicians and practitioners. From the academic view, the development of Islamic economics is marked by many educational institutions that offer training programs and courses of Islamic economics. Islamic economics study should lead to formation and internalization of Islamic values in the economiclife. Therefore, the suitable teaching method to increase the quality of Islamic economics is competency-based curriculum that combines textual and contextual approach. Both approaches should be incorporated in formal and nonformal education.
Thus the development of Islamic economics are expected to line between conceptual and business practices in accordance with recent guidance that will eventually form an Islamic economic system truly in accordance with basic principles of sharia.
Keywords: education, islamic economics.
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6257
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6258
2018-11-12T06:32:49Z
jieb:ART
nmb a2200000Iu 4500
"120301 2012 eng "
2338-5847
2085-8272
dc
THE IMPOSSIBILITY OF REVIVING DINAR AND DIRHAM CURRENCY SYSTEM IN THE MODERN ECONOMY WORLD
Muflih, Muhammad
The State Polytechnic of Bandung (POLBAN)
Array
This study proves that in the discourse of fiqh, Islamic history, and Islamic banking the position of the concept of reviving the currency of dirham and dinar is very weak.
Indicators that justify the conclusion of this study are: (1) there is a correspondence with historical evidence of inflation in the Islamic world, (2) there is correspondence with thoughts of fiqh, (3) there is a correspondence with modern syariah financial concept, and (4) there is a correspondence with Islamic banking attitude.
This study is written to challenge the idea of Ahmad Hasan, Hifzu Rab, Khan-Mirakhor, Meera-Larbani, and ‘Umar Vadillo who state that inflation problem in Islamic world is best solved by reapplying the currencies of dinar and dirham as bases of transaction mediation. The inaccuracy of conclusion of the modern Islamic economist figures was shown by many historical facts showing the turmoil in values of these two gold bills in time of inflation. Other reasons for the fragility of these two currencies are;(i) lack of support of the fiqh expert in strengthening these currency systems as way out of the inflation-affected transaction, (ii)lack of support of fiqh experts to urge Islamic worlds to use only dinar and dirham as official currency,(iii) lack of support of Islamic banking experts to revive the use of dinar and dirham as transaction bases and remedy for inflation-affected transaction. The facts showed that the chosen system taken by fiqh and Islamic banking experts in settling the inflation-affected transaction was the strengthening of mu‘âmalah transaction system instead of alternating the currency system. The outcome of the strengthening the mu‘âmalah transaction system is a concept of price adjustment.
The concept of price adjustment gives a strong implication to modern Islamic banking as an instrument of the mu‘âmalah transaction system support when facing inflation cases.
Keywords: inflation, islamic banking, dinar, dirham
Faculty of Economics and Business, Universitas Gadjah Mada
2012-03-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6258
Journal of Indonesian Economy and Business (JIEB); Vol 27, No 1 (2012): January
eng
Copyright (c) 2012 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6259
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
REGIONAL ECONOMIC MODELLING FOR INDONESIA: IMPLEMENTATION OF IRSA-INDONESIA5
Resosudarmo, Budy P.
The Australian National University Canberra, Australia
Yusuf, Arief A.
Padjadjaran University Bandung, Jawa Barat, Indonesia
Hartono, Djoni
University of Indonesia Depok, Jawa Barat, Indonesia
Nurdianto, Ditya A.
The Australian National University Canberra, Australia
Array
Ten years after Indonesia implemented a major decentralisation policy, regional income per capita disparity and excessive rate of natural resource extraction continue to be pressing issues. There are great interests in identifying macro policies that would reduce regional income disparity and better control the rate of natural extraction, while
maintaining reasonable national economic growth. This paper utilises an inter-regional computable general equilibrium model, IRSA-INDONESIA5, to discuss the economy-wide
impacts of various policies dealing with the development gap among regions in the country, achieving low carbon growth, and reducing deforestation. The results of simulations conducted reveal that, primarily, the best way to reduce the development gap among regions is by creating effective programs to accelerate the growth of human capital in the less developed regions. Secondly, in the short-term, the elimination of energy subsidies and/or implementation of a carbon tax is effective in reducing CO2 emission and producing higher economic growth, while in the long-run, however, technological improvement, particularly toward a more energy efficient technology, is needed to maintain a relatively low level of emission with continued high growth. Thirdly, if reducing deforestation means reducing the amount of timber harvested, it negatively affects the economy. To eliminate this negative impact, deforestation compensation is needed.
Keywords: computable general equilibrium, development planning and policy, environmental economics
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6259
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6260
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
THE IDENTIFICATION OF STRUCTURAL BREAK AT TIME SERIES DATA ON INDONESIAN ECONOMY 1990Q1-2008Q4: THE APPLICATION OF ZIVOT AND ANDREWS’ EXPERIMENT
Mustafa, Rahman Dano
Universitas Khairun Ternate
Array
Before the 1997/1998 economic crisis that enhanced the fluctuation of some Indonesian macroeconomic indicators, Indonesian economic indicators seemed to run quite well as to make it attractive as business destination. The economic turbulence has brought about the enhancement of its macroeconomic indicators fluctuation: the depreciation of Indonesian Rupiah’s exchange rate, the sharp contraction of GDP, the ever-increasing inflation pressure, and the interest rate hike.
The objective of this paper is to identify the right timing of the major structural break on Indonesian economy through the application of Zivot and Andrew’s procedure (ZA)
(Zivot and Andrews, 1992), with time series data in the period of Q1 1990-Q4 2008. The ZA model empirical test outcome shows that endogenously the significance of structural break for most macroeconomic variables necessitates at least one hypothesis of null unit root that can be rejected for most of the investigated variables. The potential structural break in series (ADF-test) also allows some originally non-stationary-unit contained variables to turn into a stationary ones. These results are statistically significant as the endogenously appropriate break (ZA-test) coexisted with the Indonesian financial-crisis shocks in 1997/1998.
Keywords: structural break, unit root test, macroeconomic time series and Indonesian economy
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6260
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6261
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
MARKET RETURN, VOLATILITY AND TRADING VOLUME DYNAMICS AFTER ECONOMIC CRISIS
Djohanputro, Bramantyo
PPM School of Management
Array
This paper attempts to explore the relationships of return – trading volume and volatility – trading volume. Trading volume may represent a proxy of information, liquidity, and
momentum. The up and down of trading volume, therefore, contain certain information that can be extracted by traders to make investment decision. Regressions of market return
on its lags, volume, and conditional variance and regressions of volatility on its lags, volume, and conditional variance are employed. Traders may respond positive information
differently from negative information. To accommodate such behaviour, threshold autoregressive conditional heteroskedasticity or TARCH is employed. Using market data of Indonesia Stock Exchange between economic crisis and before sub-prime mortgage crisis (from year 2000 to 2007) indicate the existence of return – volume relationships as well as volatility – return relationships albeit not very strong. There is also an indication that traders respond positive information differently from negative information concerning
return movements but there is no indication concerning volatility movements.
Keywords: return, volatility, volume, TARCH
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6261
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6262
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
THE INFLUENCE OF SATISFACTION AND RELATIONSHIP MARKETING ON LOYALTY WITH INDIVIDUAL CHARACTERISTICS AS A MODERATOR: A Case Study on Islamic Banking Customers in East Java
Arwani, Mokhamad
Muria Kudus University
Suprehatin, Suprehatin
Bogor Agriculture University
Array
Prospects to attract customers to the Islamic banks do not seem to be very promising. This is mainly due to the fact that customers who had joined conventional banks are
reluctant to change their accounts to Islamic banks. Customer loyalty of Islamic banks has been considered relatively low (34%) as compared to that of conventional banks. The purpose of this paper is to analyze the influence of satisfaction and relationship marketing on loyalty. 112 eligible respondents of Islamic bank customers were collected using a designed questionnaire. Structural Equation Modeling (SEM) was employed in the analysis. Findings suggest that in the context of Islamic banks, personal characteristics have a direct impact on customer loyalty, and it does seem to be a moderating variable influence of satisfaction and relationship marketing to customer loyalty. Satisfaction does not directly affect loyalty, but it indirectly affects loyalty through relationship marketing.
Keywords: customer satisfaction, relationship marketing, personal characteristics, loyalty, Islamic banks.
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6262
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6263
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
INSOLVENT FOREIGN PRIVATE BANK: A STUDY ON MERGER AND LIQUIDATED BANKS
Haryati, Sri
STIE Perbanas Surabaya
Array
The purpose of this research was to apply the result of the previous studies on predictive models of banks soundness in the year of 1999-2004 in private national banks, in which the result showed poor performance as was indicated by Z-score calculation of the discriminatory function of the cut-off position on less soundness and unsoundness level.
The study also examined whether the financial ratios that must be published according to SEBI No. 7/10/DPNP March 2005 are able to predict the level of banks soundness when
they were implemented on the the discriminatory function.
The research population was Indonesian Foreign Private Bank (BUSN). The secondary data used in this research were publications of financial statement during the five-year
perception time (2004-2008). The result of the research showed that the discriminatory function of previous research could apply to predict the soundness level of private foreign
banks in the period 2004-2008 and the financial ratios according to SEBI7/10/DPNP publication in March 2005 were not enough to predict the soundness ratings of Indonesia’s Foreign Private Banks.
Keyworlds: soundness level of bank, Z-score, financial ratios
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6263
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6264
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
THE CORRELATION AMONG THE FACTORS OF IMPLEMENTATION, THE SYSTEM DEVELOPMENT, AND THE RESULT OF PERFORMANCE MEASUREMENT SYSTEM: A Study Conducted in The Regency of Sumba Timur
Kuba Yowi, Linda Rambu
STIE Kriswina Sumba
Array
This study is aimed to examine the relationship among factors determining the success or failure of the implementation of performance measurement systems with the development of performance measurement systems, performance accountability, and the use of performance information in the government institutions and to examine the impacts of the development of performance measurement systems on the performance accountability and the use of performance information.This research was carried out in the Local Government of East Sumba Regency. The research respondents were the government officers of Echelon II, III, and IV. The samples were selected using purposive sampling.
509 questionnaires were distributed and 267 were used. Data were analyzed using Ordinary Least Square (OLS).
This research finds that organization culture and resources have relationship with the development of performance measurement systems. In contrast, the limited information
systems, difficulties in determining the performance metrics, management commitment, decision-making authority, and training do not have relationship with the development of
performance measurement systems. The limited information systems, difficulties in determining the performance metrics and training do not have relationship with the performance
accountability, but management commitment, decision-making authority, organization culture, and resources have relationship with the performance accountability. The difficulties in determining the performance metrics, decision-making authority, organization culture, and resources have relationship with the use of performance information, whereas the limited information systems, management commitment, and training do not have relationship with the use of performance information. Further, the development of performance measurement systems directly influences the performance accountability and the use of performance information and indirectly influences the use of performance information through the performance accountability.
Keywords: performance measurement, performance accountability, performance information, local government
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6264
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6265
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
INSTITUTIONAL OWNERSHIP AND AGENCY CONFLICT CONTROLLING MECHANISM
Wardhana, Leo Indra
STIE YKPN Yogyakarta
Tandelilin, Eduardus
Universitas Gadjah Mada
Array
The research investigates ownership structure in Indonesia in context of agency theory for non-financial firms listed on the Indonesian Stock Exchange for 2000-2007 periods.
The uniqueness of characteristic of ownership structure in Indonesia, which is dominated by large institutional shareholders motivated researcher to examine the impact and its relationship to agency conflict and balancing off agency theory in Indonesian companies.
In this condition, it is certainly indicating that the existing conflict is not between managers and owners but majority and minority. The study argues that in low level ownership, controlling institutional shareholder expropriates the minority shareholders. However, when the ownerships comes to higher level, the controlling shareholder will make agency conflict lower since monitoring hypothesis becoming relevant in such level. In other words, the study argues that nonlinear relation between agency conflict which is proxied by firm’s performance ratios and controlling institutional ownership exist. Nevertheless, the study argues that debt and dividend policy can also be used to reduce the conflict. Thus, the study also examines the simultaneous relationships among the mechanisms used to reduce agency conflict.
The result indicates that when controlling institutional shareholder has significant amount of shares, they will actively monitor the manager to ensure them making value.
However, when the ownership is insignificant, controlling shareholder will harm firm value due to expropriation of controlling shareholder. Therefore, nonlinear relationship
exists between controlling institutional shareholder and agency conflict. Second, debt policy and dividend policy can be used to reduce the conflict. The last, it is found that
balancing off agency theory is not applied among all policies. The only bidirectional relationship is between institutional ownership and debt policy.
Keywords: controlling institutional ownership, agency theory, balancing off agency theory, debt policy, dividend policy
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6265
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6266
2018-11-12T06:38:03Z
jieb:ART
nmb a2200000Iu 4500
"110901 2011 eng "
2338-5847
2085-8272
dc
ANTECEDENT AND CONSEQUENCE OF SOCIAL COMPUTING BEHAVIOR FOR SOCIAL NETWORK SITES: PERSPECTIVE OF SOCIAL INFLUENCE THEORY
Abdillah, Willy
Universitas Bengkulu
Array
This research is a preliminary study to develop and examine the adoption model of social computing. Research model is developed upon the Social Influence Factors, Technology Acceptance Model, and Psychosocial Dysfunction. Research design was employed online and self-administered survey questionnaire. Data of 116 samples were analysed using Partial Least Square (PLS) technique. Results suggest that proposed model has met criteria of goodness-of-fit model and indicate that identification is an antecedent of desire to involve in social network sites (SNS) and involvement in SNS predicts psychosocial dysfunction. Implications for stakeholders and further research are discussed.
Keyword: social computing, social influence factors, psychosocial dysfunction, and social networking sites.
Faculty of Economics and Business, Universitas Gadjah Mada
2011-09-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6266
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 3 (2011): September
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6267
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
THE RISE OF CHINA AND ITS IMPLICATION ON INDONESIA-UNITED STATES TRADE
Putriani, Diyah
Universitas Gadjah Mada
Azzani, Meikha
Universitas Gadjah Mada
Array
The purpose of this study is to analyze the impact of Chinese renminbi exchange rate againts the United States (US) dollar, on the bilateral export of Indonesia to the US.
Johansen cointegration test and Ordinary Least Square (OLS) regression are employed to examine one impact. This research is limited only in the long-run aspect. The Johansen
test shows that there are long-run relationships amongs variables involved such as GDP, Real Exchange Rate (RER), RER Volatility, and dummy variables. Empirical test result
shows that there are positive significant impacts of the Chinese renminbi on the Indonesia’s exports to the US, implying that the relationship between Chinese exports and
Indonesia export are complementary in the US market.
Keywords: Indonesia, China, the United States, renminbi, cointegration, OLS
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6267
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6268
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
CONVERGENCE OF GDRP PER CAPITA AND ECONOMIC GROWTH AMONG INDONESIAN PROVINCES, 1988-2008
Gunawan, Diah Setyorini
Universitas Jenderal Soedirman
Array
In this paper, we analyze the condition among province in Indonesia especially about the convergence or divergence in gross domestic regional product. This research used
secondary data for the 1988-2008 periods. We divide the periods as four episodes, based on the presidential terms. They are 1988-1999, 1999-2001, 2001-2004, and 2004-2008.
Entrophy Theil index, coefficients of variation, Kuznets’ hypothesis test, absolute convergence, and conditional convergence were used in this research. This research found
that the convergence in gross domestic regional product happened in every period of the presidential leadership in Indonesia. We also found that regional economic growth in
Indonesia is determined by gross domestic regional product per capita, oil and gas resources, general allocation funds and revenue sharing funds.
Keywords: convergence, regional economic growth, gross domestic regional product
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6268
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6269
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
LIVESTOCK PRODUCTS DEMAND IN INDONESIA: CHOOSING BETWEEN AIDS AND ROTTERDAM DEMAND MODELS
Ummul Muzayyanah, Mujtahidah Anggriani
Hiroshima University
Maharjan, Keshav Lall
Hiroshima University
Array
This paper examines the livestock products demand in Indonesia. This objective is accomplished by estimating a food demand model using Almost Ideal Demand System
(AIDS) and Rotterdam model, and choose an appropriate demand model which best fits the data. A test to choose among the alternative joint model specifications is provided and the methodology is applied to data on demand for livestock products i.e. meat, egg, and milk. . To make consistency with Rotterdam form, first difference LA/AIDS is applied in this study. The estimated parameters find the reasonable sign and significant for the most part of the coefficient. Own price elasticity shown negative sign, indicating that meat, egg and milk are sensitive to prices except for egg in the first differences LA/AIDS model. Real
expenditure has significantly effect to the consumption of livestock products. The joint model approach was used to select the appropriate model in this study results that the first difference LA/AIDS or the Rotterdam models are both appropriate to represent Indonesian livestock products demand. For the discrimination of the models, the goodness-of-fit (adjusted R2), forecasting accuracy (RMSE) and the elasticity of the demand models are also considered to measure the best model. The first difference LA/AIDS model fits well as reflected by its higher adjusted R2 and the lower RMSE relative to the Rotterdam model.
The LA/AIDS model accommodates the high elasticities better than the Rotterdam, since AIDS performed well.
Keywords: livestock products demand, Rotterdam model, Almost Ideal Demand System (AIDS) model, joint model
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6269
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6270
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
ZAKAT POTENTIAL AS A MEANS TO OVERCOME POVERTY (A STUDY IN LAMPUNG)
Hayati, Keumala
Universitas Lampung
Caniago, Indra
Informatics and Business Institute (IBI) Darmajaya
Array
Zakat is a compulsory service run by the Muslims who are able to implement it. Zakat is a means of income redistribution and also can support development of human resources as well as enhance economic growth in Indonesia, particularly in the Lampung Province.
The purposes of this study were to explore the potential of zakat and to analyze the role of zakat in empowering poor communities in Lampung Province. This research result showed that zakat potential in Lampung Province was quite large; Rp644.18 billions with the 2% opinion and Rp1.38 billions with the 4.3% opinion. Meanwhile the Regional Government of Lampung Province in 2007 and 2008, for example, budgeting for social services reached Rp29.15 billions and Rp21.01 billions respectively, including other poverty reduction programs. Therefore, zakat potential should attract the government's attention as one solution to reduce poverty in Indonesia. Zakat is not only the provision of voluntary charity, but it is an obligation that must be paid by Muslims who received the zakat obligation. The results of the analysis showed zakat's potential in empowering poor
communities in each district/city in the province of Lampung. Based on the standards meet the needs of the poor with an income of one dollar per day, from ten districts in Lampung
province, only two districts were capable of removing the poor families from the poverty line, those are Bandar Lampung and Metro. While the potential zakat of eight other
districts had not been able to remove poor families from the poverty line due to the small acquisition of GDRP. This research showed that empowerment of the poor could be done based on the potentials of zakat in each district, the greater the GDRP, the greater the zakat potential that could be obtained. Even if the zakat potential was excessive than the poverty level in the district, it could be used as cross-subsidies with other districts in greater need.
Keywords: Zakat Potential, poverty reduction
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6270
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6271
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
DO OVERCONFIDENT INVESTORS TRADE EXCESSIVELY IN THE CAPITAL MARKET? EVIDENCES IN AN EXPERIMENTAL RESEARCH SETTING
Kufepaksi, Mahatma
University of Lampung
Array
The existence of overconfident investors in capital markets has been the subject of much researches in the past. Using the market data, these previous researches demonstrates that overconfident investors tend to trade excessively, leading to losses. The current experimental research addresses these issues in the Indonesia Capital Market. According to its methodology, participants are classified into three groups based on their score of overconfidence: moderate, more overconfident, and less overconfident investors. The research design employs the state of no available market information, good news signals, and bad news signals as treatments. The result demonstrates that the more overconfident investors perform higher trading value than those who are less overconfident in all artificial
markets leading to transaction losses, except that in the bad news market. In that bad news market, the more and the less overconfident investors gain profits, and the moderate
investors suffer from trading losses.
Keywords: overconfidence, excessive trading, profit and loss
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6271
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6272
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
CORPORATE GOVERNANCE IMPLEMENTATION AND PERFORMANCE ASSESMENT USING THE CGCG’s UGM RATING MODEL: COMMERCIAL BANKS IN INDONESIA
Artiningsih, Arika
Universitas Gadjah Mada
Novmawan, M. Ridwan
Universitas Gadjah Mada
Warsono, Sony
Universitas Gadjah Mada
Array
The purpose of this research is to examine the implementation of Good Corporate Governance (GCG) in Commercial Banks before and after the policy of The Bank Indonesia Regulation (PBI) Number 8/4/PBI/2006 concerning Good Corporate Governance Implementation for Commercial Banks. Center for Good Corporate Governance Universitas Gadjah Mada (CG CGCG UGM) rating model was employed to measure CG implementation in Commercial Banks which calculate both company organs and Corporate Governance (CG) basic principles in a universal framework. From the company organs perspective, a CG system consists of five (5) organs interacting each others, which are board of directors, board of executives, boards of commissioners/committees, auditors, and stakeholders. Meanwhile, from the CG basic principles perspective, a CG system should fulfill five (5) CG principles, which are Transparency, Accountability & Responsibility, Responsiveness, Independency, and Fairness. Therefore, the CG framework and rating model use The information technology as the main pillar in the application of CG. As for measuring banking performance, CAMEL ratio--which consist of the Capital Adequacy Ratio (CAR), Non Performing Loan (NPL), Management (Man), Net Interest Margin (NIM), and Loan to Deposit Ratio (LDR)--was applied. In conclusion, Using CGCG UGM rating model, it is discovered hat CG
implementation at Indonesian banking system was improved subsequently to the issuance of PBI. Whereas on its performance, the significant changes were indicated by only two ratios, i.e. LDR and MAN. This research depicts Bank Indonesia effectiveness as regulator at providing CG implementation guide on PBI. This research reveals for the urge for Indonesian banking industry to boost GCG implementation for their rating and performance
improvement.
Keywords: corporate governance asessment, CAMEL, commercial banks, corporate governance
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6272
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6273
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
ACCOUNTING FUNDAMENTALS AND VARIATIONS OF STOCK PRICE: FORWARD LOOKING INFORMATION INDUCEMENT
Sumiyana, Sumiyana
Gadjah Mada University
Array
This study investigates a permanent issue about low association between accounting fundamentals and variations of stock prices. It induces not only historical accounting
fundamentals, but also forward looking information. Investors consider forward looking information that enables them to predict potential future cash flow, increase predictive power, lessen mispricing error, increase information content and drives future price equilibrium. The accounting fundamentals are earnings yield, book value, profitability, growth opportunities and discount rate or they could be called as five-related-cash flow factors. The forward looking information are expected earnings and expected growth opportunities. This study suggests that model inducing forward looking information could improve association degree between accounting fundamentals and the movements of stock prices. In other words, they have higher value relevance than not by inducing. Finally, this
study concludes that inducing forward looking information could predict stock price accurately and reduce stock price deviations from their fundamental value. It also implies
that trading strategies should realize to firm’s future rational expectations.
Keywords: earnings yield, book value, profitability, growth opportunities, discount rate, accounting fundamentals, forward looking, value relevance
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6273
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6274
2018-11-12T06:54:15Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
ACCOUNTING PERFORMANCE AS AN ANTECEDENT FACTOR OF CHIEF EXECUTIVE OFFICER TURNOVER IN INDONESIA
Lindrianasari, Lindrianasari
University of Lampung
Nurdiono, Nurdiono
University of Lampung
Ivana, Einde
University of Lampung
Array
This study is aimed to provide empirical evidence about the usefulness of accounting information in the issue of CEO turnover. Previous research shows the results that CEO
turnover is inconclusive with respect to its antecedent factors and consequences. It is also very rarely observed in Indonesia, and therefore strongly encourages the author to
conduct this study. The samples of this study is all the companies performing turnover (either routine or non-routine) at the level of the company's top leaders in office as
President Director. The sample included 81 CEOs which experienced turnover from 1998 to 2006 period, and compared with a control group referring to companies that does not perform CEO turnover during the observation period (nine years). The final sample that we used for testing the accounting data is as much as 140 companies, consisting of 81 companies that performed turnover and 59 companies that did not. The results of study show that accounting data (i.e. total assets, total sales, ROA, ROE and earnings), indicates a significant negative effect on turnover decisions, while current ratio does not. In additional tests, we find that the accounting performance on non-routine turnover compares favourably with CEO turnover on the type of routine. This result indicates a bargaining position of CEOs at a company that does change regularly. Meanwhile, worse accounting performance will have the potential for CEOs to be replaced (down position or enter into a council of commissioners) and even be laid off from the company.
Keywords: CEO turnover, accounting performance, antecedent factors
Faculty of Economics and Business, Universitas Gadjah Mada
2011-05-01 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6274
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 2 (2011): May
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6275
2018-11-13T01:45:23Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
COMPARATIVE STUDY OF THE ECONOMIC DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN PAKISTAN, INDIA AND INDONESIA
Azam, Muhammad
Abdul Wali Khan University Mardan-Pakistan
Array
In this study an attempt has been made to investigate the effects of economic factors on foreign direct investment (FDI) inflows into Pakistan, India and Indonesia. Simple log
linear regression model for each country has been used and the method of least squares has been applied. Empirical results show that market size, domestic investment, trade
openness, and physical infrastructure are the important economic determinants of FDI.
Further, this study also found that the empirical results of the economic determinants of India matched with empirical results of Pakistan except two determinates (i.e., trade
openness and government consumption), while that of Indonesia do not match with Pakistan and India. For attracting more FDI into Pakistan and India, the management authorities’ needs to ensure economic and political stability, provision of infrastructure, peace and security, encouraging domestic investment and adoption of appropriate macroeconomic stabilization policy. Furthermore, this study recommend the same measures for Indonesia and suggest that more future research work are required for empirical investigation of determinants of FDI in Indonesia, to enhance the desirable level of FDI into the country.
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6275
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c) 2011 Journal of Indonesian Economy and Business
oai:jurnal.ugm.ac.id:article/6276
2017-10-31T02:27:17Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
THE POLITICS OF BANK SUPERVISION
Sukarman, Widigdo
Universitas Gadjah Mada and Universitas Negeri Manado
The bank supervision function and efficacy of monetary policy are often a trade-off for the central bank. An increasingly integrated financial system and the occurrence of bank crises during the 1980s raised the question: are central banks efficient in overseeing banks and is there a requirement for integrated supervision, either under the central bank or separate? The debate among academics and policymakers has never been settled without the guarantee that one alternative will ensure optimal bank supervision. This development has led to periodic changes in the form of supervision chosen. As the basic economic choice has been unsatisfactory, this study approaches the problem using path-dependence theory, which observes historical factors of bank development as well as the constellation of domestic politics in choosing these alternatives.
Keywords: path-dependence, bank supervision, politics, country-specific
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6276
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6277
2017-10-31T02:28:02Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
GLANCING METEOR SHOWER OVER INDONESIA: VOLATILITY SPILLOVERS FROM A MAJOR STOCK MARKET TO INDONESIAN STOCK MARKET AND CURRENCY
Setiastuti, Sekar Utami
Durham University
During the deepest financial crisis in mid 2007-2009, increasing volatility of Indonesian stock market index were captured. Increasing volatility of the series is a
common event since the volatility of financial market around the globe is increasing likewise. Yet, whether it is a sign of volatility spillover or comovement still emerges as a
mystery.
This paper seeks to explain the causes of the increasing volatility in domestic currency and stock market. To investigates the hypothesis in tranquil and crisis periods, the
observation period of January 2, 2003 to May 31, 2010 is splitted into two sub-periods with different levels of volatility. Using VAR-EGARCH on daily stock market index of Indonesia (IDX), S&P 500, and the bilateral exchange rate, we documented the existence of meteor shower and heatwaves in Indonesia stock market and exchange rate during crisis period. This finding implies that in crisis period, Indonesian stock market and exchange rate volatility were not only affected by market specific factors, but were also
affected by volatility of the major stock market. We also captured asymmetric affects in the model which suggests that negative shock in the major stock market will increase the volatility of domestic stock market more than positive shock will.
Keywords: volatility spillovers, comovement, contagion, VAR-EGARCH
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6277
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6278
2017-10-31T02:28:36Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
THE GLOBAL ECONOMIC CRISIS AND ITS IMPACT ON INDONESIA’S EDUCATION
Kuncoro, Mudrajad
Universitas Gadjah Mada
This paper will examine to what extent the unprecedented global financial crisis has affected the Indonesia’s economy. The differences between Indonesia’s experience of the
global financial crisis (GFC) and Asian Financial Crisis (AFC) in 1997–98 will be illuminated. The government’s priority on the development of education— together with achieving quality growth, reducing poverty, creating jobs, improving infrastructure— have accelerated the economic recovery and improved key indicators in education. Despite
budgetary adjustments, the Indonesian government continues to prioritize investment in education. As a result, the GFC has not affected number of students in Indonesia
significantly. The GFC has not affected the interest of students to get higher education at the Indonesia’s universities.
Keywords: global financial crisis, Asian financial crisis investment, economic recovery
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6278
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6279
2017-10-31T02:29:11Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
THE BUSINESS PERSPECTIVES STRATEGY TOWARDS THE TKI (INDONESIAN MIGRANT WORKERS) MARKET
Sihombing, Haeryip
Universiti Teknikal Malaysia
Yaakob, Moh. Yuhazri
Universiti Teknikal Malaysia
Safarudin, Mochamad
Ministry of Trade Republic of Indonesia
The business prospects and opportunities of the migrant workers’ (TKI) market are still wide open. This is shown by the year to year remittances incremental of TKI that
corresponds to the beneficial opportunity of the business players to optimize their exploration of this market. In reality, the current efforts and strategy in this exploration,
however, are still not utilised effectively in terms of competitive advantage. Therefore the initiative strategy towards product differentiation and innovation of the offered service should be explored and optimised based on the sustainable beneficial prospects for the business. As described briefly in this paper through a case of business innovation towards differentiation, the proposed strategies such as localization and two-sided markets are required for business organisations to unlock their product innovation strategies towards TKI (as their customer) through the innovative solution against the poverty.
Keywords: TKI, remittance, poverty, differentiated, solution
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6279
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6280
2017-10-31T02:29:39Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
LOCAL OWN REVENUE MOBILIZATION IN INDONESIA
Mahi, B. Raksaka
University of Indonesia
Decentralization policy in Indonesia has given an increase of authority to local government in managing their own local finance. One of the characteristics of the decentralization policy is to increase local taxing power, with the objective to optimize local own revenue in supporting local spending. Given the current data observation, it is obvious that many local governments do not have significant local own revenue to support their local spending. This paper-adopting tax elasticity method-attempts to evaluate the present local own revenue optimization. Furthermore, by adopting a decomposition of tax elasticity, this paper also attempts to elaborate factors affecting local own revenue
collection.
The estimated local own revenue elasticity show that most taxes and user charges, which are the main sources of local own revenue, are considered not a buoyant tax. More
analysis using a decomposition of tax elasticity shows that tax to base elasticity is weak, suggesting that local governments need to improve discreationary tax changes at local level, such as local base changes, collection changes, and enforcement changes. The analysis also shows that some local tax bases are not responsive to the economic growth, which leads to the recommendation to improve local business environment, such as streamlining local regulations and reducing harmfull local taxes and user charges.
Keywords: local finance, local government owned revenue, fiscal decentralization, local tax elasticity, local tax base, nuisance local taxes, local economic growth
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6280
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6281
2017-10-31T02:30:29Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
PUBLIC SECTOR EFFICIENCY IN INDONESIA (FISCAL DECENTRALIZATION ERA, 2001 –2008
Kirana, Mayanggita
Diponegoro University
Saleh, Samsubar
Universitas Gadjah Mada
While many developing countries have devolved public responsibilities to local governments in recent years, some studies have examined whether decentralization
actually leads to greater public sector allocation efficiency. This paper approaches this question by assessing the efficiency of government expenditure on public sector under
fiscal decentralization. The area of public expenditure is of great importance making the findings have strong implications with regard to public sector efficiency.
We compute public sector performance (PSP) and public sector efficiency (PSE) indicators, comprising of composite and 9 sub indicators, for 33 provinces in Indonesia.
The first 6 sub indicators are opportunity indicators that take into account education, health outcomes, poverty, gender equality, quality of public infrastructure (transportation
and energy). 3 order indicators reflect the standard musgravian tasks for the government: allocation, distribution, and stabilization. The input and output efficiency of public sectors across provinces is then measured using a non-parametric production frontier technique.
Free Disposable Hull (FDH) analysis is used to estimate the extent of slack in government expenditures. The study finds significant differences in PSP and PSE, which suggests a
large potential for expenditure savings in many provinces. All these findings suggest diminishing marginal products of higher public spending.
We also estimate a semi parametric model of the public sector production process by regressing FDH analysis output scores on non discretionary variables using the Tobit procedure. We show that inefficiency is strongly related to GDP per capita, human development index, and degree of fiscal dependence. The central message of this paper is that increasing budgetary allocations for public sector may not be the only or most effective way to increase public sector outcome, and that more attention should be given to increasing the efficiency of expenditure.
Keywords: fiscal decentralization public sector performance, public sector efficiency, free disposable hull, Tobit
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6281
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6282
2017-10-31T02:30:58Z
jieb:ART
nmb a2200000Iu 4500
"110105 2011 eng "
2338-5847
2085-8272
dc
THE IMPACT OF REDDI ON INSTITUTIONS INCOME: A SOCIAL ACCOUNTING MATRIX APPROACH
Ulya, Nur Arifatul
Ministry of Forestry Republic of Indonesia
Indonesia is one of the three largest tropical forest countries. Indonesia's forest area is about 120.35 million hectares or about 60% of Indonesia’s land area. Indonesia’s forest is not only important for the people of Indonesia both in terms of its ecologic and economic role, but also important for the global environment, particularly in relation to climate change. Forests could become carbon storage in large quantities, but also can be a source of carbon emissions.
Indonesia's forests currently facing problems of deforestation and degradation, which contributed approximately 20% of global CO2 emissions, so that the Indonesian government put a high attention on the issue of REDD (Reducing Emissions from Deforestation and Forest Degradation). REDD schemes is expected to assist Indonesia in reducing deforestation and forest degradation for forest sustainability and provide economic income from carbon trading.
This paper aims to identify the impact of carbon trading under Reducing Emissions from Deforestation and Forest Degradation in Indonesia (REDDI) scheme on income of
institutions that consist of households, companies and government using the Social Accounting Matrix (SAM) approach. Accounting multiplier is used to calculate the impact of REDDI scheme on institutions income in the year 2005.
The results indicate that the impact of REDDI on institution income for the minimum scenario is U.S.$ 0.68 billion whereas for the maximum scenario is U.S. $. 28.86 billion
REDDI give the greatest impact on households’ income (59.66%) than followed companies (28.17%) and government (12.17%).
Keywords: carbon trading, deforestation, degradation, forest
Faculty of Economics and Business, Universitas Gadjah Mada
2011-01-05 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6282
Journal of Indonesian Economy and Business (JIEB); Vol 26, No 1 (2011): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6283
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
APPLICATION OF RULE OF LAW BY JURISDICTION SYSTEM ON ILLEGAL LOGGING CASE IN INDONESIA 2002-2008
Permana, Yudistira Hendra
Universitas Gadjah Mada
The aim of this research is to analyze behavior of Supreme Court’s judge on detention period sentence for illegal logging defendants in Indonesia from year 2002 through 2008.
The first analysis is censored normal regression method using detention period indictment by prosecutor, detention period sentence by district court, defendant’s gender, appeal
effort, defendant’s age, and defendant’s job variables. Those variables are used to analyze how each variable affect on Supreme Court’s verdict on detention period sentence for
illegal logging defendants in Indonesia. Second analysis is descriptive statistic involves three levels of jurisdiction’s considerations (prosecutor, district court, and Supreme
Court) on determining detention period sentence for illegal logging defendants in Indonesia and suitability those three levels of jurisdiction to law. Research’s result shows
that detention period indictment by prosecutor, detention period sentence by district court, and defendant’s age significantly affect on Supreme Court’s verdict on detention period sentence for illegal logging defendants in Indonesia. But, on the other hand there is unsuitable verdict made by those three levels of jurisdiction to law.
Keywords: court’s verdict, illegal logging, censored normal regression
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6283
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6284
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
THE EFFECTS OF CHANGES IN MINIMUM WAGE ON EMPLOYMENT IN THE COVERED AND UNCOVERED SECTORS IN INDONESIA
Pratomo, Devanto Shasta
University of Brawijaya
This study examines the effects of changes in minimum wage on employment in the covered and uncovered sectors in Indonesia using an individual micro-level data set from
1989 to 2003. Since the Indonesian Labor Force Survey data are not a panel, this study applies pooled cross-sectional time-series methodology to explore the impact of the
minimum wage across individual workers. All of the equations are analyzed separately in urban and rural labor markets, as well as the male and female labor market. The results suggest that an increase in minimum wage is more likely to decrease the covered sector employment and to increase the uncovered sector employment. These results also indicate a displacement effect from the covered sector to the uncovered sector, as suggested by the two-sector model. In addition, this study found the displacement effect is stronger for women, indicating that female workers are the more likely to be hurt as the result of an increase in minimum wage. Compared to urban areas, the effects in rural areas are somewhat lower, indicating that minimum wage is less binding, given the dominance of the
traditional agriculture sector.
Keywords: Minimum Wage, Employment, Covered Sector, Uncovered Sector
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6284
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6285
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
STRATEGY IMPLEMENTATION: THE EFECT OF DECENTRALIZATION, PARTICIPATION IN BUDGET SETTING, AND MANAGERS’ ATTITUDE ON PERFORMANCE
Riyanto, Bambang
Universitas Gadjah Mada
The performance of a business unit, to a large extent, is determined by the quality of its strategy and how well the strategy is implemented. This study examines the effect of
strategy implementation on performance. In particular, it investigates the extent to which the fit between two crucial strategic supporting systems, namely decentralization and
budget system, and managers’ attitude with the strategy of SBU on performance. It is argued that the more consistent the level of decentralization, degree of participation in the
budget system and managers’ attitude with the SBU strategies, the higher the performance will be, and vice versa. Unlike most prior studies, the hypothesis was tested by adopting the system of fit approach. Responses from 75 divisional managers of 75 diversified companies are analyzed. The results show that managers pursuing a strategy of differentiation (cost leadership) report high performance when they worked in highly (less) decentralized structures, are given more (less) opportunity to participate in the budget process, and had strongly positive attitude toward their jobs and their firms. These findings are consistent with the basic premise of strategy implementation that different strategies should be supported with different configuration of organizational structure and process to achieve optimal results.
Keywords: strategy implementation, decentralization, participation, attitude, system of fit.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6285
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6286
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
DISTORTION OF CAPACITY ON INTER-REGIONAL TRADE OF IMT-GT: STUDY CASES ON FOUR SELECTED PROVINCES IN SUMATRA, INDONESIA)
Avianto, Benito Rio
International Economic Cooperation and Financing of ASEAN Division
The objective of the paper was to understand the impact of sub regional economic cooperation, known as the Indonesia-Malaysia-Thailand Growth Triangle (IMT- GT), on
trade sector in Indonesia. The approach of research based on export macro information by provinces and commodities.
The method used in the analytical framework was a fixed effect method. The regional study covered Nanggroe Aceh Darussalam, North Sumatera, West Sumatera Barat, and
Riau provinces, and the commodities involved CPO, coffee and rubber, with 1990-2008 data series.
Based on pooled regression, the IMT-GT, there was a significant impact on export from the four provinces to Malaysia and Thailand for all based years. One might focus on commodity level that, in fact, CPO was the only one coomodity that had a significant impact within the IMT GT region. In addition, Thai Bath and Malaysian Ringgit, with
respect to GDP for both countries, had significant influenced on Export;, especially after the IMT GT endorsed.
Keywords: IMT-GT, Province, export, CPO, coffee, and rubber export, pooled regression
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6286
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6287
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
HYPOTHESIS TESTS ON HALL PERMANENT INCOME (HPI): THE CASE OF INDONESIA
Maryatmo, R.
Universitas Atma Jaya Yogyakarta
This paper is focused on the test of Hall Permanent Hypothesis. Hall hypothesizes that economic agents have perfect information on their life time income. Since economic agents have perfect information on their life time income, they tend to hold their inter-temporal consumption to be equal. There are three ways to test the Hall hypothesis. The three ways are Dickey Fuller, Augmented Dickey Fuller, Cambell and Mankiw tests. The results are inconsistent each others. The finding tends to support that the interest rate transmission mechanism for inter-temporal consumption is not working in Indonesia. The interest rate in Indonesia tends to be higher than of the neighboring countries. The interest rate in Indonesia tends to be high because of the high inflation rate, and inefficient banking practice. It is interesting to plan further research on staggering high inflation and inefficient banking practice in Indonesia.
Keywords: Hall income permanent hypothesis, inflation, Indonesia.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6287
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6288
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
OWNERSHIP TYPE AND COMPANY PERFORMANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE
Soejono, Fransiska
STIE MUSI Palembang
This study is aimed to test the difference in performance among companies with various types of ownership (foreign, state, and private) on a sample of 206 companies
listed in ISE (Indonesian Stock Exchange) between 1999-2006 resulting in 795 company year observations. The ANCOVA model and multiple comparison methods are used to test the hypothesis that private-owned companies have better performance than state-owned enterprises and foreign-owned companies have better performance than private-owned companies. Contrary with the hypothesis, the result shows that state-owned enterprises have better performance than private-owned companies. The possible explanation for this is because state-owned enterprises have more experience than private-owned companies (based on LogAge). State-owned firms may get some special facilities (including the easiness to get debt funding) from government. The result also shows that foreign-owned companies have better performance than private-owned companies which support the hypothesis. Foreign-owned companies have more experience in managing enterprises than private-owned companies. Furthermore, foreign-owned companies in some industries tend to be more active in doing investment than private-owned companies. There are some implications of these results. First, different ownership type gives different effect to the
company’s performance. Second, government can consider foreign ownership in its privatization policy.
Keywords: Ownership type, Performance, Experience, Investment.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6288
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6289
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
THE IMPACT OF FX (FOREIGN CURRENCY EXCHANGE) ON THE BOTTOM LINE OF TEXTILE/SHOES INDUSTRIES LISTED IN INDONESIA STOCK EXCHANGE 2006-2008
Subekti, Hendro
Universitas Gadjah Mada
During 2006-2008, Indonesia has been experiencing depreciation of IDR against world currency US$. The situation was triggered by global crisis October 2008, and IDR currency plunged. Furthermore, 17 textile/shoes industries publicly listed in ISX have been severely hit by depreciation of IDR The “Huge Loss of Bottom Line” in 2008 was recorded (IDR 617 billions) more than half of trillion IDR. To be curious the most of industry are manufacturer-exporter.
Year 2007, national textile industry overwhelmingly reports the export sales of US$ 10.05 billion and the raw material import was US$ 2.04 billions. By these facts, Income contribution from textile/shoes industries sector was US$ 8.01 billion and became a mile stone of the achievement. Depreciation of IDR currency is an advantage to the exporter as product become cheaper for foreign buyer while import goods costly to foreign seller.
The aim of this research is to describe the impact of FX on the bottom line of the Textile/Shoes Industries listed in ISX during 2006-2008, a period when the profit performance has been fallen sharply in line with the depreciation of IDR currency. By using the mathematical regression equation is surprisingly proven that FX adversely impact to the “bottom line” of the industry. The equation model selected Net Income as dependent variable while Operating Profit, Financial Charges and FX (Forex) as the independent variable.
From the outcome of the research, the dilemma between operation and financial leverage is revealed. Depreciation IDR was negatively reduced the “bottom line” this was
mainly due to higher FX loss. By the end of December 2008, 17 shoes/textile industries have been suffered a huge loss of FX, and recorded FX Loss (IDR 564 billions), in connection with “high financial leverage denominated in US$ currency”. The snapshot of balance sheet position is called “Net Short Asset to US $”. Only 5 Industries were making money among 17 industries during 2008. Only one company had already “hedged” their exposure to FX. Only one company who reported profit show “debt to equity ratio” is much lower than average industry (US Textile Manufacturing) However, under the operational expectation, the depreciation of IDR currency encourage better performance of “export oriented company”. This is the dilemma that textile/shoes industries have been exposed to financial risk in one side and on the other side operational risk (competitiveness).
Keywords: net short asset to US$, financial leverage and financial risk, operational risk, foreign exchange loss, depreciation of IDR.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6289
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6290
2015-06-25T15:40:53Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
NON-FINANCIAL FACTORS IN THE GOING-CONCERN OPINION
Junaidi, Junaidi
Universitas Teknologi Yogyakarta
Hartono, Jogiyanto
Universitas Gadjah Mada
This paper describes the influence of tenure, auditor reputation, disclosure, and the size of the client company on a going concern opinion. Audit opinion issued by the auditor
is expected by users of the quality of information, because as the basis for investment decisions. Going-concern audit opinion is an opinion issued by auditors to ascertain
whether the company can maintain its existence. Studies on the factors that affect the audit opinion have been carried out both overseas and in Indonesia. The factors used are vary and the results are not conclusive. This study uses 89 sample firms listed on the Indonesia Stock Exchange in 2003-2008. Logit regression analysis shows that the tenure, auditor reputation, disclosure has a significant on going-concern opinion while the client company size has no effect on going-concern opinion.
Keywords: tenure, auditor reputation, disclosure, size, going-concern opinion
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6290
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 3 (2010): September
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6291
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
TRADE SPECIALIZATION INDICES: TWO COMPETING MODELS
Saleh, Samsubar
Universitas Gadjah Mada
Widodo, Tri
Universitas Gadjah Mada
Revealed Comparative Advantage (RCA) index by Balassa (1965) is intensively applied in empirical studies on countries’ comparative advantage or trade specialization.
Asymmetric problem in the criteria of RCA index encourages Dalum et al. (1998) and Laursen (1998) to make Revealed Symmetric Comparative Advantage (RSCA) index. These
two indexes are commonly employed in econometric models for analyzing countries’ trade specialization. This paper aims to compare theoretically and empirically the two
competing econometric models, one using RCA and the other using RSCA. The ASEAN countries’ comparative advantages are presented for the empirical case studies. This
paper concludes that RSCA can, to some extent, reduce the “outlier problem” of RCA in the econometric model; therefore, the model using RSCA can be more statistically reliable
than the model using RCA. The two econometric models might not be suitable for forecasting purposes since the estimated values could theoretically violate their criteria of
comparative advantage and disadvantage. In the cases of ASEAN countries, we find empirically that the model using RSCA is statistically more reliable than the one using
RCA. The ASEAN countries have exhibited de-specialization.
JEL classification: F10, F14, F17
Keywords: Revealed Comparative Advantage (RCA), Revealed Symmetric Comparative Advantage (RSCA).
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6291
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6292
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
INDUSTRIALIZATION AND DE-INDUSTRIALIZATION IN INDONESIA 1983-2008: A KALDORIAN APPROACH
Priyarsono, D.S.
Bogor Agricultural University
Lestari, Titi Kanti
Statistics Indonesia
Dewi, Diah Ananta
Statistics Indonesia
Economists have for a long time discussed the causes of economic growth and the mechanisms behind it. Kaldor viewed advanced economies as having a dual nature very
similar to that of developing countries, with an agricultural sector with low productivity and surplus labour, and a capital intensive industrial sector characterized by rapid technical change and increasing returns. The transfer of labour resources from the agricultural sector to the industrial sector depends on the growth of the latter’s derived demand for labour. With this background this study attempts to show the periods when the Indonesian economy indicated the processes of industrialization and deindustrialization. It
also attempts to identify whether the economy experienced positive deindustrialization (i.e., showed signs of economic maturity where service sector substituted the role of industrial sector as the engine of growth) or negative deindustrialization (i.e., showed signs of economic stagnancy where industrial sector could not grow rapidly enough to absorb surplus labour from agricultural sector). Lastly, this study attemps to analyze several factors that might be responsible for the process of the deindustrialization.
Keywords: industrialization, deindustrialization, economic growth
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6292
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6293
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
GLOBAL DETERMINANTS OF ENTRY MODE CHOICE
Tulung, Joy Elly
Universitas Sam Ratulangi
Since several decades, a lot of academic attention has been given to entry mode decisions of firms, and which factors, in which contexts, are important determinants to take into consideration. Especially interesting for researchers is what influences the choice for a certain entry mode. A general limitation of this research stream seems to be that the
empirical testing is limited to firms of a particular part of the world. This paper has developed six propositions. These propositions all concern a certain variable which
influences the entry mode choice. The variables have been justified in the transaction cost theory, the resource based. Following the theories, the relationship between asset
specificity, R&D intensity, firm size and international experience is said to be positive with the entry mode choice, and cultural distance and country risk are negatively related. Most propositions have been confirmed. view and institutional theory. These variables are asset specificity, R&D intensity, firm size, cultural distance, country risk and international
experience.
Keywords: Entry mode theory, transaction cost theory, resource based view, institutional theory
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6293
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6294
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
BUSINESS STRATEGIES THROUGH FIT MANAGEMENT OF HUMAN CAPITAL AS COMPETITIVE ADVANTAGE
Sihombing, Haeryip
Universiti Teknikal Malaysia Melaka
Saptari, Adi
Universiti Teknikal Malaysia Melaka
bin Yaakob, Mohd Yuhazri
Universiti Teknikal Malaysia Melaka
Many organizations fail to interpret what the competitive advantages of their business. Based on lean philosophy about waste, one of the reasons is to unlock (by understanding
and take advantages) of their employee’s potential. This paper proposes a conceptual framework of the so-called ‘Fitted Management’. The concept discusses two issues i.e. 1)
‘Fitted Management’, an integrated concept of performance challenges, performance measurement and performance management combined with the vision and missions into
competitive management; 2) ‘Human Transformation’, a conceptual model to support the first concept. It discusses the processing of exploring human capabilities (in organization)
and how to manage this (to fit with the organization) as well as business competition in dynamic market and business climates.
Keywords: human capital, competitive advantage, lean, performances, fitted management.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6294
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6295
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
THE APPLICATION OF E-TOURISM IN SMALL AND MEDIUM-SCALE TOURISM IN INDONESIA: A STRATEGIC MANAGEMENT VIEW
Hussein, Ananda Sabil
Universitas Brawijaya
Widagdo, Untoro
Universitas Brawijaya
Asriwulan, Yeni
Universitas Brawijaya
Tourism sector is one of state’s income that cannot be separated from the roles of small and medium scale business unit. In accordance with the development of science and technology, tourism sector cannot be separated with the application of information technology commonly called as E-Tourism. In general, E-Tourism is an application of information technology in the field of tourism in order to achieve effectiveness and efficiency in promoting the tourism sectors in Indonesia. Its application in tourism sector can be used as a medium to promote virtual promotion in order to get wider markets. It is also known that most of the tourists who come to Indonesia are from developed countries and they are familiar with the application of ICT. By applying E-Tourism tourists and
prospective ones are able to access tourism information fast and accurately. It is beneficial for small and medium-scale businessmen. The article attempts to give a description about the effects of E-Tourism on small and medium-scale business unit in Indonesia. It is expected that those involved in tourism business are able to formulate a strategic
marketing that can provide competitive advantages, while for researchers it is hoped that the article will be beneficial for future research related to E-Tourism .
Keywords: Tourism, small and medium scale business unit, E-Tourism, ICT, Strategic
marketing
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6295
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6296
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
FINANCIAL AND NON-FINANCIAL FACTORS INFLUENCING INTERNET FINANCIAL AND SUSTAINABILITY REPORTING (IFSR) IN INDONESIA STOCK EXCHANGE
Almilia, Luciana Spica
STIE Perbanas Surabaya, Indonesia
Internet Financial and Sustainability Reporting (IFSR) is voluntary in nature. With no specific regulations on IFSR, there is a disparity of IFSR practices among companies.
Some companies disclose only partial financial statement using a low level of technology, while others disclose full sets of financial reports using sophistications of the web such as multimedia and analytical tools. Sustainability (1999) addressed the benefits (global reach, immediacy, ease of updating, transparency, link ability, and interactivity) of
reporting social and environmental information on the website and thus the factors that affect decision of whether or not to use this communication medium. By placing
information on the firm’s website, users can search, filter, retrieve, download, and even reconfigure such information at low cost in a timely fashion.
The purpose of this study was to examine financial variables that affect Internet Financial and Sustainability Reporting (IFSR) of listed in Indonesia Stock Exchange companies. The ordinal logistic regression used to examine variables that affect Internet Financial and Sustainability Reporting (IFSR). The sample of this research is companies that listed in Indonesia Stock Exchange. The 203 observations were divided into three categories: 87 companies not providing financial and sustainability report in the internet (No website), 62 companies providing financial and sustainability report in the internet with low index (Low Index) and 54 companies providing financial and sustainability report
in the internet with high index (High Index). The result shows that firm size, majority shareholders, auditor size and industry type as a determinant factor of internet financial
and sustainability-reporting index in Indonesia, whereas leverage and profitability not statistically significant as determinant factors of internet financial and sustainability
reporting index in Indonesia.
Keywords: internet financial reporting, website, traditional financial reporting, internet, financial statement, voluntary disclosure.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6296
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6297
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
REFORMULATING POLICY ON FREQUENCY USAGE FEES AS NON-TAX STATE REVENUE: URGENCY AND ITS IMPLICATIONS
Rosdiana, Haula
University of Indonesia
Spectrum/frequency is a backbone of telecommunication industry and an input to produce various goods and services. Because of its being a limited resource, by tradition it has come to be owned by the state. Many governments levy usage fees/charges to establish a managed spectrum environment or to generate national fiscal income. This varies in different countries. Government of Indonesia levies several taxes and fees/charges to
telecommunication operators. As a result, there are double or multi-tax costs of taxation, which can distort productivity. This phenomenon shows that government should consider
reformulating frequency usage fees policy in order to minimize the cost of taxation, promote teledencity, affordability, and growth of telecommunication industry. Moreover, many researches have showed that telecommunication industry could accelerate Gross
National Product (GNP).
This study describes all taxes and fees/charges applied to telecommunication industry in Indonesia, comparing them to those of some other countries, and analyze frequency
usage fees based on the theory of earmarking tax. An alternative way to reformulate levy policy on frequency usage fee is analyzed by simulating its impacts using system dynamic.
The result shows that taxes and fees/charges applied to telecommunication industry increased cost of taxation, and government should simplify in order to give them more
opportunity to increase their productivity resulting in products of good quality and affordable price. Furthermore, it is better for government to levy frequency usage fees
based on earmarking concept, so the frequency regulator can optimize its role to manage spectrum effectively and efficiently. Moreover, the government can provide public and
universal services, especially in rural areas.
Keywords: Frequency Fees, Earmarked Tax, Cost of Taxation, Supply side tax policy
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6297
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6298
2015-06-25T15:40:41Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
FACTORS AFFECTING FOOD SECURITY IN RURAL AREAS IN YOGYAKARTA PROVINCE
Susilo, Y. Sri
Universitas Atma Jaya
The purpose of this research is to identify and analyze the factors influencing the food security of rural society in the Province of Daerah Istimewa Yogyakarta (DIY). The
location included several sub districts in the Regency of Sleman, Bantul, Kulon Progo, and Gunungkidul. Data utilized in this research were primary and secondary data. Primary
data were compiled by survey and interviews. Secondary data were compiled from various publication sources. Data analyzed with multinomial logit regression model.
Factors influencing the food security of rural society in the Province of Daerah Istimewa Yogyakarta are based on three basic groups that are economy (income), socioculture
(gender, kind of food, way of fertilization, technique of cultivation and knowledge of ecology) and ecology (land capability, land suitability, irrigation) ceteris paribus. The
three factors cannot be separated in the equilibrium of eco-economy, eco-culture and ecology models.
Keywords: food security, rural society, multinomial logit, DIY.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6298
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 2 (2010): May
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6299
2015-06-25T15:40:26Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
INFRASTRUCTURE POLICY IN INDONESIA: NEW DIRECTIONS
McCawley, Peter
ANU College of Asia and the Pacific, Australia
Indonesia faces an infrastructure crisis. The infrastructure crisis is part of a broader challenge of mobilising investment capital to support overall development. The basic
arguments of this article are as follows. First, long-term development in Indonesia will be held back unless increased amounts of priority infrastructure can be provided. Second, the required infrastructure projects will not be constructed unless bottlenecks holding back the investments can be overcome. Third, bottlenecks appear to fall into two main types: financial and real constraints to growth. Fourth, more emphasis on a commercial approach to the provision of infrastructure in Indonesia which emphasises competition
and responsiveness to stakeholders is needed.
Keywords: infrastructure; finance; markets; prices
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6299
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 1 (2010): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6300
2015-06-25T15:40:26Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
THE INFLUENCE OF IMPLEMENTING QUALITY MANAGEMENT TOWARDS PURCHASING PERFORMANCE AND COMPETITIVE ADVANTAGE MAKING
Harsasi, Meirani
Universitas Terbuka, Tangerang-Indonesia
Radhi, Fahmy
Universitas Gadjah Mada, Yogyakarta-Indonesia
This study examined the effect of quality management practices on purchasing performance and competitive advantage. The data were collected through questionnaires
consisting of 152 manufacturing companies in West Java, by using purposive sampling method. The hypotheses were tested by using Structural Equation Modeling (SEM.)
The results indicate that quality management practices in purchasing had significant influence on purchasing performance, while quality performance had also significant
influance on competitive advantage. Another finding was that quality management practices in purchasing had significant influence on the quality performance mediated by
purchasing performance.
Keywords: quality management practices in purchasing, purchasing performance, quality
performance, competitive advantage
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6300
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 1 (2010): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6301
2015-06-25T15:40:26Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
THE IMPACT OF CONTRACT FARMING ON THE PROFIT OF VIRGINIA TOBACCO FARMING IN LOMBOK ISLAND, WEST NUSA TENGGARA
Hamidi, Hirwan
Universitas Mataram, Lombok-Indonesia
This study aims at explaining the impact of contract farming on the profit of Virginia tobacco farming in Lombok Island. Does partnership influence profit? We used survey
data of 147 farmers, they are partners of tobacco processors and independent farmers. By utilizing profit function analysis, it is concluded that: (1) partnership positively affected the profit of Virginia tobacco farming in Lombok Island; (2) productivity, prices of tobacco, fertilizers (NPK, KNO), pesticide, kerosene, and labor wage significantly affected the profit. These are followed by: (1) that farmers should reduce the use of human labor, while partner company and local government should endeavor to find alternative technology to substitute human labor with machinery labor; (2) that the government is recommended to continue subsidy provisionof at least for short term program until cheaper alternative fuels, such as coal, solar energy, biomass energy, or others, are available.
Keywords: impact, partnership, profit, Virginia tobacco
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6301
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 1 (2010): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6302
2015-06-25T15:40:26Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
DECENTRALIZATION AND ITS IMPACT ON PRIMARY EDUCATION OUTCOMES
Purwanto, Deniey Adi
Institute for Development of Economics and Finance (INDEF)
Development outcomes nowadays not only measured by the successful of economic growth but more comprehensively by the achievement of human development. Obviously
education has been place a one substantial factor not only as a basic human right but also in international development. Meanwhile after more than 8 years of decentralization in
Indonesia, many concerns arise regarding the decentralization impacts. One of the considerable questions is on how far the fiscal decentralization has enhanced education development achievement. Therefore, a set of fiscal decentralization variables used in this paper to analyze their roles on primary education outcomes. Enrollment Rate used as dependent variable to represent the primary education outcomes. Regional characteristics were also utilized to improve the robustness of the result.
Using panel data set of 434 sub provincial regions (districts and cities) in Indonesia, the estimation result show that fiscal decentralization instrument played a significant role
on primary education outcomes. Furthermore, DAK seems to have a greater impact on primary education outcomes than DAU. Additionally the estimation result also shows that
there is still a significant disparity among sub provincial region in primary education achievement. The results suggest that fiscal decentralization instrument rearrangement substantially needed next to the education development equalization in all sub provincial region. This way, decentralization will foster more favorable outcomes in education development outcomes hopefully.
Keywords: decentralization, primary education, panel data.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6302
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 1 (2010): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6303
2015-06-25T15:40:26Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
RECONCILING INDUSTRIAL CLUSTERS AND URBAN SYSTEMS THROUGH REGIONAL NETWORK GOVERNANCE: A CASE OF CENTRAL JAVA PROVINCE
Nugroho, Prihadi
Universitas Diponegoro
The location distribution of industrial clusters is often associated with their proximity to production factors geographically and economically. Many studies show how industrial clusters can maximise inter-firm social and economic benefits through a process of collective efficiency and flexible specialisation. Particularly this condition can be achieved with a support of well-articulated urban systems where the integration of public service provisions can be established to reduce total transactional costs. In fact, most regions in Indonesia fail to present appropriate urban systems for ensuring the delivery of resources across regions. Moreover, the practices of decentralised developments since the past few years have been neglecting the importance of strengthened urban system following the tendency of governments to look after local developments. As a result, the industrial clustering approach which is implemented by some local governments only creates institutional obstacles and additional costs due to the lack of intergovernmental cooperation. Regarding this issue a regional network governance should be encouraged to provide coordination milieu between governments in developing industrial clusters altogether. This attempts may be useful to cutting off the regional differences of transactional costs that the respective clusters must cope with.
Keywords: industrial clusters, urban systems, regional network governance
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6303
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 1 (2010): January
eng
Copyright (c)
oai:jurnal.ugm.ac.id:article/6304
2015-06-25T15:40:26Z
jieb:ART
nmb a2200000Iu 4500
"150228 2015 eng "
2338-5847
2085-8272
dc
FINANCIAL CRISIS VERSUS DEBATE ON URBAN SPACE, CHALLENGE, AND RESEARCH AGENDA
Sutriadi, Ridwan
University of Florida
Unstable economic conditions due to the financial crisis in 1997 and 2008 have made it necessary for Indonesia to seek alternative ways to escape such uncertain global economic conditions. In doing so, several development policies and innovative scenarios have been applied by the Indonesian Republic. The government has also attempted to relate such initiatives with global development actors, starting from the policy level up until the formulation of action plans. Nevertheless these efforts must be accompanied by a comprehensive approach, covering all activity aspects from the actors of development to collectively participate in development. This may also effect development of Indonesian urban space of which cannot be separated from such global conditions.
This article attempts to describe the impacts of development beyond the limits of administration as a result of globalization, occurring particularly in large cities, but also involving other cities Indonesia. In relation to this, the discourse on ‘space’ emerges in the context of urban planning, whether remaining to be oriented towards physical
organization, or shifted to the new paradigm of which tends to view space as a product of global economic situations, community conditions, as well as values of local culture and
foreign values (imported from the west). Therefore, this article begins its discussion on urban systems within the context of globalization and financial crisis, then proceeding with discussions concerning impacts towards urban structure, regional competition, urban identity, followed by discussions on financial crisis and the debate on urban space, and finally concluded with the research agenda.
Paradigm shifts have become one of the most urgent matters to study considering the challenges of inter-regional competition, regional autonomy, and financial crisis.
Furthermore, this study may assist the space planners in better understanding the reasons that cause failures of policy and planning implementation that have been formulated. This article aims to awaken academicians in developing a research agenda in line with the debates of understanding urban space (particularly in times of financial crisis) but also serves as a critic and enrichment towards the literature related to global impacts towards urban structure, regional competition, and urban identity.
Keywords: globalization, space, urban structure, regional competitiveness, urban identity.
Faculty of Economics and Business, Universitas Gadjah Mada
2015-02-28 00:00:00
application/pdf
application/pdf
https://jurnal.ugm.ac.id/jieb/article/view/6304
Journal of Indonesian Economy and Business (JIEB); Vol 25, No 1 (2010): January
eng
Copyright (c)
a3d2d98a727d6a9f6ed290791240a896