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Journal of Indonesian Economy and Business
Published by Universitas Gadjah Mada
ISSN : 20858272     EISSN : 23385847     DOI : https://doi.org/10.22146/jieb.v37i2.3449
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Journal of Indonesian Economy and Business (JIEB), with registered number print ISSN 2085-8272; online ISSN 2338-5847, is open access, peer-reviewed journal whose objective is to publish original research papers related to the Indonesian economy and business issues. This journal is also dedicated to disseminating the published articles freely for international academicians, researchers, practitioners, regulators, and public societies. The journal welcomes authors from any institutional backgrounds and accepts rigorous empirical research papers with any methods or approach that is relevant to the Indonesian economy and business context or content, as long as the research fits one of three salient disciplines: economics, business, or accounting. The JIEB is Internationally indexed in SCOPUS, EBSCOHost (Business Source Corporate Plus and Business Source Complete), EconLit, ProQuest, Google Scholar, DOAJ, Microsoft Academic Search, and ACI (ASEAN Citation Index). Furthermore, this journal has been nationally accredited by the Directorate-General for Research Strengthening and Development, the Ministry of Research and Technology for Higher Education, Republic of Indonesia (Decree No. 148/M/KPT/2020) in SINTA 2 (Indonesian Science & Technology Index).
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 77 Documents
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Video-On-Demand Streaming Services Subscription Antecedents and Consequences: The Uses and Gratifications Theory Approach Shofwah Syafira; Basu Swastha Dharmmesta
Journal of Indonesian Economy and Business Vol 39 No 3 (2024): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v39i3.8176

Abstract

Introduction: This study aims to examine the impact of affective gratification, tension release, cognitive gratification, perceived risk, and viewing addiction on subscription behavior as antecedents and its consequence namely customer engagement. Background Problems: The need for satisfaction is a trigger for media use. As time passes, research on media use through use and audience gratification approaches will always be needed, so this should be carried out in the context of streaming services. Novelty: This research focuses on streaming services using the uses and gratifications theory approach. Similar research has focused on the theoretical implications of usage attitudes, but this research has implications for actual usage behavior, namely subscription behavior. Research Methods: Data have been collected using an online survey with purposive sampling and then analyzed using partial least squares structural equation modeling. Findings: The results suggest that only five of the 13 hypotheses proposed are supported. Companionship and cognitive gratification do not affect subscription behavior, while perceived risk did not impact subscription behavior negatively. Conclusion: The results of this study indicate that streaming service subscribers are more concerned with functional benefits, such as service usability, variety of content, entertainment, and relaxation media. Furthermore, the implications of this research provide benefits both theoretically and practically
Risk-Based Premiums of Insurance Guarantee Schemes: A Machine-Learning Approach Citra Amanda; Ananta Dian Pradipta
Journal of Indonesian Economy and Business Vol 39 No 2 (2024): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v39i2.9323

Abstract

Introduction/Main Objectives: This study explores the application of machine-learning techniques to risk-based premium calculations for insurance guarantee schemes within the Indonesian insurance market. This study aims to develop a risk-based premium calculation model using machine-learning techniques in the Indonesian context. Background Problems: A gap exists in determining risk-based premiums for both the life and non-life insurance sectors within the Indonesian insurance market. Identifying and understanding the key variables that significantly influence risk-based capital (RBC) is important, and this research addresses this need. Novelty: This paper is the first to apply machine learning to calculate risk-based premiums in the context of the Indonesian insurance market. The distinction between the life and non-life insurance sectors in terms of the importance of its variables and itsselection of an optimal model further enrich its unique approach. Research Methods: We employed gradient-boosted and decision-tree models to identify key factors impacting risk-based capital. Furthermore, we leveraged clustering techniques to categorize companies into distinct risk tiers, aiming to enable more precise risk-based premium rate calculations. Finding/Results: The findings reveal significant differences between the life and non-life insurance sectors in terms of key variables that impact their risk-based capital. These insights lead to the categorization of insurance companies into distinct risk tiers whichhelps to more accurately calculate risk-based premiums. Conclusion: Machine learning can serve as a powerful tool in refining insurance risk management practices, ultimately benefiting insurers, policyholders, and regulators alike.
Socio-Demographic Determinants of Insurance Literacy among University Students in Indonesia Reza Yamora Siregar; Nada Serpina
Journal of Indonesian Economy and Business Vol 39 No 3 (2024): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v39i3.9389

Abstract

Introduction/Main Objectives: This research aims to investigate the level of insurance literacy among economics and business students and identify the socio-demographic factors impacting the level of insurance literacy. Background Problems: Low insurance literacy has long been identified as the cause behind the weak insurance penetration growth in Indonesia. College students area potential market for the development and deepening of the insurance sector. Novelty: However, hardly any studies have been published that assess the insurance literacy of university students in Indonesia. This study also presents a unique view of students’ insurance knowledge across different universities in Indonesia, providing an understanding of the factors contributing to their literacy level. Research Methods: We conduct the commonly applied ordinary least squares test on the survey data collected using stratified random sampling. Findings/Results: The test results conclude that students from universities in Java, who have mothers who graduated from college, come from middle-income families, and live in Java have significantly higher insurance literacy levels compared to the rest of the students. However, gender and residency do not seem to significantly impact insurance literacy. Conclusion: Our study shows that socio-demographic factors influence university students’ level of insurance literacy. These findings provide valuable information for policymakers and insurance firms to target this potential market with their insurance products.
Rural Government Cooperation Intensity and Leadership in Fostering the Innovation Capabilities of Rural Microbusinesses Ardy Wibowo; Defia Ifsantin Maula; Dani Fikri Setiawan; Muhammad Hisam
Journal of Indonesian Economy and Business Vol 39 No 3 (2024): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v39i3.10068

Abstract

Introduction: The growth of rural entrepreneurship significantly impacts economic growth and the well-being of rural communities. Background Problem: Innovation is crucial for entrepreneurs' success, with rural government playing a pivotal role in rural societies. Novelty: This study overviews the role of rural government in fostering entrepreneurial innovation, focusing on inter-organizational collaboration and the village head's leadership style. Research Method: Employing a quantitative survey methodology, the study undertook direct surveys of 300 rural micro- and small-scale entrepreneurs from diverse industries in Indonesia. A simple random sampling technique was used to ensure a representative sample of the population. Data were analyzed using Structural Equation Modeling—Partial Least Squares. Findings: The analysis reveals that rural government cooperation and transformative leadership positively influence entrepreneurs' perceptions of organiza­tional support. In turn, perceived organizational support significantly impacts the desire for knowledge sharing and innovation capability enhancement. This study diverges from previous research by examining the mediating roles of knowledge sharing and perceived organizational support in innovation capability enhancement. It confirms that perceived organizational support is a vital mediator in the relationship between government cooperation intensity, transformational leadership, and innovation capability. Conclusions: The findings underscore the need for rural governments to practice effective cooperation and leadership and provide consistent support. Such strategies facilitate a supportive environ­ment that fosters knowledge sharing and significantly boosts rural entrepreneurs' innovation capabilities.
Do the Characteristics of Startup Founders Matter for Funding Performance? Rayenda Khresna Brahmana; Doddy Setiawan; Evan Lau; Maria Kontesa
Journal of Indonesian Economy and Business Vol 39 No 3 (2024): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v39i3.11841

Abstract

Introduction/Main Objectives: Based on the upper echelons theory, this research examines the role of startup founders' characteristics on startup funding performance (SFP). This study considers the founder's experience, education, and gender as the characteristics that positively affect the SFP. Background Problems: While academia and industry emphasize the importance of startup funding performance (SFP), the empirical evidence on its determinant has received less attention. Yet, upper echelons theory addresses the importance of a leader's characteristics in increasing the organization's performance. Therefore, the current study focuses on investigating the role of startup founders' characteristics in the SFP. Novelty: The current study proposes the founder's characteristics as the key factor for startup funding. Unlike previous studies, this study utilized a survey design to answer the research question. Additionally, this study is the pioneer for entrepreneurial finance studies in gauging the upper-echelons framework. Research Methods: This research collected information from 228 Indonesian Startups through a survey. The estimation model is estimated using robust cross-sectional OLS regression and logistic regression. For robustness purposes, this study tackles the endogeneity issue by using two-stage least squares (TSLS) and PLS-SEM. Finding/Results: The regression results (including the two-stage least square approach) reveal that education and gender play a significant role in SFP but not experience. Moreover, it shows that higher education would increase a startup's probability of having better funding. Meanwhile, male entrepreneurs have lower funding performance than women entrepreneurs. Conclusion: Our study surmises that the education of the founders is crucial for startup financing in Indonesia. It also shows that the experience of founders has a trivial effect. It supports the upper echelons theory, emphasizing the pivotal role of founders' characteristics in entrepreneurial finance. Policy-wise, focusing on education can enhance startup success while addressing gender disparities is crucial. However, limitations exist, suggesting the need for longitudinal studies and broader sample sizes. Future research could explore managerial abilities and cultural factors, offering fresh insights into the literature.
Revolutionizing Civil Servant’s Work Behavior through Flexible Working Spaces: Digital Transformation &Green Practices at the Ministry of Finance Senja, Puput Yanita; Silviani, Wahyu Dian; Puspita, Rosana Eri
Journal of Indonesian Economy and Business Vol 40 No 1 (2025): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v40i1.5821

Abstract

Introduction/Main Objectives: The COVID-19 pandemic forced the Ministry of Finance of the Republic of Indonesia to carry out a digital transformation by employing the concept of the Flexible Working Space (FWS) to ensure its civil servants can use the Work From Anywhere (WFA) system, including the Work From Home (WFH) system. These concepts are expected to help civil servants to optimize their performance. Background Problems: FWS has been practiced for two years, but detailed information on how the civil servants’ green work behavior has helped in maintaining their performance has not been investigated. Novelty: The researchers also studied how the digital transformation has changed the working practices among civil servants at the Ministry of Finance, and do they employ more green practices now? Discussion about the civil servants' green work behavior during this digital transformation is still limited. Research Methods: This study applied a qualitative technique to analyze the data obtained from an online qualitative survey, focus group discussions (FGD), observations and docu­mentation. These research data were validated through a triangulation approach before being analyzed using the theory of planned behavior (TPB). Finding/ Results: The positive aspects of the Ministry of Finance’s digital transformation, which occurred during the pandemic, are civil servants can work faster, more efficiently, more flexibly, and they are more focused, but they have less contact with other people. While the identified disadvantage is that the internet network is occasionally unstable, thus disrupting the learning and discussion processes. The civil servants at the Ministry of Finance had used several green practices before the pandemic began, such as saving water, saving electricity, and to some extent they had gone plasticless and paperless. After the pandemic happened and FWS was implemented, these practices became more prominent, producing better results compared to the results before the pandemic. The pandemic also brought other advantages, including carbon emissions reductions and time savings. Conclusion: The FWS concept in the Ministry of Finance changed the work behavior related to the digital transformation, and the green work behavior of the civil servants. This is based on the TPB which includes attitudes, subjective norms, and behavioral control. Digital transformation using the FWS concept has had positive and negative impacts on the civil servants' green work behavior, and in maintaining their performance.
Internal Whistleblowing and Perceptions of Organizational Politics, Pressure, and Professional Commitment Risty, Ilyona; Aprilia Beta Suandi; Alif, Muhammad Ikhsan
Journal of Indonesian Economy and Business Vol 40 No 1 (2025): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v40i1.8600

Abstract

Introduction/Main Objectives: This study examines the influence of organizational political perceptions of internal whistleblowing intention, specifically investigating the role of professional commitment on the pressure felt by employees within the framework of the conservation of resources theory. Background Problems: Previous research has focused on what factors can increase internal whistleblowing intention, while there are contextual factors that cannot be ignored, specifically the state of the working environment that may hinder such intention. Novelty: This research investigates a different phenomenon from the point of view of an environment that creates a negative perception while also linking it to the professional commitment to the impact of internal whistleblowing intentions. Research Methods: This study employs a questionnaire-based survey method targeting employees of banks affiliated with the Association of Stated-Owned Banks in Indonesia. The sample consists of 115 participants and the data were analyzed using structural equation modeling (SEM). Findings/Results: The findings of this research suggest that employees' views on organizational politics and the corresponding pressure hinder their willingness to report violations. Nevertheless, a strong level of professional dedication does not lessen the impact of organizational politics on perceived pressure. This underscores the necessity for organizations to cultivate a cooperative atmosphere that can diminish the adverse perceptions of organizational politics. Conclusion: This research carries particular importance, notably within the financial industry, illustrating how the interactions among organizational politics, pressure, and professional commitment influence employees' tendency toward internal reporting of misconduct. Further, this research enriches the discourse on internal whistleblowing, providing a richer conceptualization of its determinants from both environmental and situational perspectives.
What Drives Youth to Shop for Local Fashion Online? Extending the Planned Behavior Theory and Ethnocentrism Kartikasari, Dwi; Zuliarni, Sri; Hati, Shinta Wahyu; Anggraini, Ria; Sari, Desi Ratna; Andayani, Nur Rahmah
Journal of Indonesian Economy and Business Vol 40 No 1 (2025): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v40i1.9131

Abstract

Introduction: Local businesses and lawmakers in emerging economies are under tremendous pressure to compete with foreign entities and comprehend consumer behavior in the setting of increasing interna­tionalization and the growing significance of e-commerce. Main Objectives: By adding to the theory of planned behavior and consumer ethnocentrism, this study aims to find the factors that affect people's intentions to buy local products in the context of e-commerce, fashion, youth, and Indonesia. Methods: Nonprobability snowball online sampling on social media was conducted to collect 651 valid responses. Findings/Results: We used a variance-based partial least squares structural equation model to show that attitudes, perceived behavioral control, subjective norms, and consumer ethnocentrism, directly and indirectly, affect people's intentions to buy local goods online. Conclusions: In our structural model, we stress how vital consumer ethnocentrism and subjective norms are as internal and external factors for consumers. Implications: We encourage managers of local businesses and future researchers to include these concepts in their marketing plans and research. Novelty: This research shows that consumers react differently to the opposite sign of consumer ethnocentrism when they deal with subjective norms as an outside factor because of competitive mediation. Limitations: The generalizability of our findings to different countries, situations, and product categories is limited, so we suggest future research expand beyond our scope.
Exploring the Dynamics of Work Satisfaction and Innovation Among Young Lecturers in Post-Pandemic Indonesia Dara, Despinur; Saparuddin, Saparuddin
Journal of Indonesian Economy and Business Vol 40 No 1 (2025): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v40i1.9972

Abstract

Introduction/Main Objectives: This study purposes to investigate the complex relationship among work autonomy, work crafting, work satisfaction, and innovative work behaviour. Background Problems: How autonomy, crafting, and work satisfaction relate and, more collectively, affect young lecturers' innovative work behaviours within the shifting educational circumstances in Indonesia is a major concern. Novelty: This research has groundbreaking importance because it applies the self-determination theory to this particular academic context of Indonesia. It emphasises the impact of cultural variations on the motivation and behaviour of young lecturers. It offers an innovative perspective on how young lecturers may be innovative and adaptable in the face of pedagogical and technical changes that are occurring at a fast rate. Research Methods: The study uses a mixed method approach in which 382 young lecturers from state universities in Indonesia participate in surveys, in-depth interviews, and participatory observations. By using structural equation modelling (SEM) by Lisrel and systematically coded by NVIVO, it becomes possible to analyse the complex interrela­tionships between the variables. Finding/Result: Work crafting on work satisfaction and work satisfaction on innovative behaviour has a significant positive impact. In contrast, work autonomy has no significant influence on lecturer work satisfaction. Excessive autonomy and interference without assistance will lower lecturer work satisfaction. In a dynamic educational environment, encouraging young lecturers to use creative teaching techniques and having institutional support can boost their creativity. Conclusion: What is brought into sharp focus through this study is the balance of autonomy with adequate support for young lecturers in a world that is rapidly developing in terms of digital education. Thus, pressure exists in universities to ensure young lecturers enjoy convenience in their work and support them to ensure they obtain the institutional support and work tools required in the digital era.
The Relationships between ESG Responsibility, Earnings Management, and Tax Aggressiveness: Evidence of the Halo Effect from Indonesia Ekawati, Erni
Journal of Indonesian Economy and Business Vol 40 No 1 (2025): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.v40i1.10099

Abstract

Introduction/Main Objectives: Sustainable firms should develop competitiveness by seeking interconnections between financial and non-financial goals. This research investigates the halo effect to shed light on the motives behind environmental, social, and governance (ESG) responsibility and tax aggressiveness engaged in by the firms dealing with real earnings management (REM). Background Problems: Do higher ESG scores improve corporate value due to corporate credibility and ethical practices, or due to the motive of doing good to cover up irresponsible practices? Novelty: Only a few studies have investigated the motivation of Indonesian companies in carrying out ESG, associated with REM and tax aggressiveness to test for a halo effect. Research Methods: This study is based on a sample of manufacturing companies listed on the Indonesia Stock Exchange between 2015 and 2019. Panel data regression models are used in testing the hypotheses. Finding/ Results: ESG scores have a positive effect on market value. The halo effect is present in manufacturing firms practicing REM. Firms entering into REM have significantly higher ESG scores. REM has a negative effect while ESG scores have a positive effect on tax aggressiveness. Conclusion: ESG scores could increase firms’ value. However, the presence of the halo effect results in higher ESG scores for firms engaging in REM. The REM activity prevents firms from aggressive tax planning, while governance responsibility encourages them to do so. The halo effect opens up the opportunity to engage in REM and tax aggressiveness. Thus, the government requires scrutiny considerations in order to avoid the unfavorable side effects of ESG enforcement.

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