Vieira, Isabel
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A Study of Hospital Competition in Yogyakarta City with Huff’s Gravity Model and Valuation Methods Vieira, Isabel; Asmara, Gea Dwi
JAMPE (Journal of Asset Management and Public Economy) Vol. 3 No. 1 (2024)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v3i1.8922

Abstract

This analysis was conducted to identify the level of hospital competition in Yogyakarta City. The object of this study is 12 hospitals in Yogyakarta City. The analytical tools in this study consist of two methods. The ?irst method is the Huff’s Gravity Model used to estimate the probability of visits to each hospital so that the competition between hospitals can be known. The second method is the valuation method using the income approach to calculate the potential value of the hospital. The results of this study show that the largest visit probability and potential value are owned by RS PKU Muhammadiyah Yogyakarta with a probability value of 19.91% and a potential value of IDR 8,493,747,933,578 for an optimistic estimate, IDR 3,370,534,894,277 for a moderate estimate, and IDR 1,400,068,340,700 pessimistic estimate. The contribution of this research can be considered in making investment decisions, especially in planning the establishment of a new hospital or expanding the capacity of an existing hospital. For investors who will invest in the hospital industry, they should look for locations that are easily accessible and avoid building hospitals with lower types near hospitals with high types; this will affect the level of probability of visits to the hospital itself. If the level of visit opportunity is low, then the potential value that will be obtained will also be low.
Multilevel analysis of macroeconomic and institutional determinants of FDI in Newly Industrialized Countries Suripto, Suripto; Salim, Agus; Kurniawan, Mahrus Lutfi Adi; Khasanah, Uswatun; Athfal, Azkal Azkiya; Wong, Wing-Keung; Vieira, Isabel
Economic Journal of Emerging Markets Volume 18 Issue 2, 2026
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol18.iss2.art3

Abstract

Purpose — This study empirically examines how macroeconomic and institutional factors influence Foreign Direct Investment (FDI) flows in Newly Industrialised Countries (NICs), with particular emphasis on structural backwardness among NICs.Method — The analysis uses a Hierarchical Linear Modelling (HLM) approach based on multilevel panel data for 2013–2024. We tested the model in stages using the Null Model, Random Intercept Model, and Random Slope Model.Findings — The Null Model yields that cross-country differences, rather than temporal fluctuations, drive most of the variation in FDI across NICs. Graphical analysis confirms this cross-country heterogeneity, showing that institutional capacity and macroeconomic strength explain most of the variation in FDI across countries. The Random Slope Model further shows that GDP has a positive and significant effect on FDI, while Political Stability has a significant negative effect. Trade Openness, Government Effectiveness, and Voice and Accountability are not statistically significant, indicating that macroeconomic factors remain the dominant drivers of FDI.Implication — These findings emphasise the importance of strengthening economic foundations and institutional flexibility in the design of foreign investment policies in NICS countries.Originality — The main contribution of this research lies in its use of random-slope models of Voice and Accountability (VA) models within the HLM framework, enabling a deeper examination of institutional dynamics across NICs.