Diah Setyawati Dewanti
Department of Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Yogyakarta

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Cultural Dimensions and Sustainable Stock Exchanges Returns in the Asian Region Susilo Nur Aji Cokro Darsono; Wing-Keung Wong; Nguyen Tran Thai Ha; Hafsah Fajar Jati; Diah Setyawati Dewanti
Journal of Accounting and Investment Vol 22, No 1: January 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (790.451 KB) | DOI: 10.18196/jai.v22i1.10318

Abstract

Research aims: The aim of this paper is to examine the effect of four cultural dimensions such as power distance index (PDI), individualism (IDV), uncertainty avoidance index (UAI), and long-term orientation (LTO) on the sustainable investment return in Asian sustainable stock exchanges.Design/Methodology/Approach: Quantitative research method was applied for this research. Monthly sustainable stock indices from seven Asian countries for the period 2015-2019 were considered. This research employed the Ordinary Least Square (OLS) regression and Feasible Generalized Least Square (FGLS) regression with id and time fixed effect.Research findings: The outcomes of our empirical investigation underlined the fact that: (i) an increase in power distance (PDI) would increase the market returns in the Asian region; (ii) individualism (IDV) had a positive and significant impact on the market returns, and the increase of individualism in the Asian countries would lead to the higher sustainable stock returns; (iii) increase in the uncertainty of avoidance (UAI) by investors in the Asian region would lead to the higher stock returns; (iv) the long term orientation (LTO) had a significant and positive impact on market returns. It showed that if the investor had a long-term orientation on the sustainable stock exchange in the Asian region, it would lead to increased stock returns.Theoretical contribution/Originality: This research's theoretical contribution is to present the causal relations of cultural differences on the sustainable investment return in the Asian region.Practitioner/Policy implication: This research’s implication is to increase the concern of individual investors, portfolio managers, and investment companies regarding the cultural dimension effect on sustainable investment.Research limitation/Implication: The limitations still exist in this research, such as: (1) limited data for sustainable stock indices in the Asian region; (2) this research mainly focused on four cultural dimensions instead of six dimensions in Hofstede's model; (3) the future research should include the control variables and some other financial variables related with the sustainable investment.
The Effect of Halal Foods Awareness on Purchase Decision with Religiosity as a Moderating Variable Inar Anggraini; Diah Setyawati Dewanti
Journal of Economics Research and Social Sciences Vol 4, No 1: February 2020
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.040116

Abstract

This study aims to examine and explain the effect of halal food awareness on purchase decisions with religiosity as a moderating variable. The sample in this study is Muslim consumers in Indonesia and Thailand. Purposive sampling technique was applied by criteria of samples required is Muslim consumers in Indonesia and Thailand. The number of samples is 200 respondents, included 150 Indonesian respondents and 50 Thai respondents. The analysis is done using Moderated Regression Analysis (MRA) with SPSS 23.0 software. The finding of this study shows that respondent has a high-level awareness of halal foods in Indonesia and Thailand. Halal food awareness has a positive and significant impact on purchase decisions for Muslims living in Indonesia. Halal food awareness has a positive and significant impact on purchase decisions for Muslims living in Thailand. Finally, the higher level of religiosity cannot strengthen the effect of awareness on a purchase decision.
Tourism Development Strategies on CBT of Pindul Cave, Gunungkidul Regency Muhammad Raditya Fajar Syuhada; Diah Setyawati Dewanti
Journal of Economics Research and Social Sciences Vol 4, No 2: August 2020
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.v4i2.10112

Abstract

The purposes of this research are to determine the strengths, weaknesses, opportunities and threats of Pindul Cave Tourism Object as well as create the best strategies in efforts to developing Pindul Cave Tourism Object to increase community income. This research used a descriptive approach, by collecting data in the form of primary data. The analysis technique used in this research are observation, interviews, Focus Group Discussion and documentation. The subjects on this research are managers of tourism object such as Government Tourism Office, Secretary of District, POKDARWIS of Pindul Cave, and tourism stakeholders, seller of bakso tusuk, parking guards, guide. The analysis tool of this research is SWOT analysis. Based on SWOT analysis identifications of Pindul Cave Tourism Object development strategies the results of data collected are; 1) internal factors of Pindul Cave Tourism Object which are strengths and weaknesses that can support and inhibit the development of tourism object. 2) external factors of Pindul Cave Tourism Object which are strengths and weaknesses that can support and inhibit the development of tourism object. 3) the best strategy can be executed by Pindul  Cave Tourism Object which is SO strategy (Strengths and Opportunities).