Gadjah Mada International Journal of Business
Gadjah Mada International Journal of Business (GamaIJB) is a peer-reviewed journal published three times a year (January-April, May-August, and September-December) by Master of Management Program, Faculty of Economics and Business, Universitas Gadjah Mada. GamaIJB is intended to be the journal for publishing articles reporting the results of research on business, especially in the context of emerging economies.
The GamaIJB invites manuscripts in the various topics include, but not limited to, functional areas of management, accounting, international business, entrepreneurship, business economics, risk management, knowledge management, information systems, ethics, and sustainability.
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SERVICE QUALITY: Understanding customer Perception and Reaction, and Its Impact on Business
Ndubisi, Nelson Oly
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This paper is an attempt to explain the process and outcomes of customer services levels and how they shape customer perceptions (of their relationship with services providers) and reactions. As an entirely conceptual work, this paper proposes a model for understanding the pathway and the end of good and bad customer service. Implications of the study on theory and practice are discussed.
The Consumption Paradigm in Marketing
Ardianto, Eka
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This article elaborates consumption paradigm in marketing. In background, this paper reviews different perspectives of consumption: economic perspective and marketing perspective. In ontology, this work describes various issues regarding consumption view. In epistemology, this article demonstrates how marketers especially researches explore the consumption phenomena. In methodology, the article describes experiential marketing âone of applied consumption paradigm in marketing, which could be an alternative choice of marketing practices.
A MECHANISM AND DETERMINANTS OF AN AGENCY-COST EXPLANATION FOR DIVIDEND PAYMENTS
Hartono, Jogiyanto;
Ratnaningsih, Dewi
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This study explains the dividend puzzle using the agency-cost frame work suggested by Easterbrook (1984). Easterbrook hypothesized that shareholders in firms, who increase cash dividend payout and âsimultaneously raise debts to finance their investments are likely to be wealthier than those in firms who only increase their cash dividend payout. He provided the mechanism that shareholders use the dividend payments to force managers to go to the capital markets to raise funds. Therefore, he argued that dividend policy influences the financing policy. A system of simultaneous equation using three-stage generalized least square method is used to test the hypotheses. Among the variables to proxy the investment opportunity set, market-to-book ratio, market-to-book assets ratio and accounting earnings-per-share-to-price ratio are the best proxies. Attempt is made to obtain better proxies for the investment opportunity set using an instrument variable method. The system is robust to alternate investment opportunity variables as well as to the instrumental variables. The findings are as follows. For the firms that increase cash dividend payout and raise debt simultaneously, (a) dividend policy is not a shareholders mechanism, but a managers accounting-based decision with accounting earnings and retained earnings as the major determinants, (b) dividend policy influences financing policy, but not the other way around, (c) increasing dividend payment decreases shareholders wealth, but increasing debt subsequently increases shareholders wealth with a net effect positive to shareholders wealth, and (d) dividend policy is independent from investment policy.
THE RELATIONSHIPS BETWEEN SUPPLIER PARTNERSHIP, ENVIRONMENTAL VARIABLES ANDFIRM PERFORMANCE IN RETAIL INDUSTRY
Soehadi, Agus W.
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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Partnership with suppliers is becoming a critical activity in retail industry to strengthen their competitive position. However, evidence suggested that partnership efforts do not reach their potential due to the effect of external factors. This article presents a comprehensive model that depicts the links among the supplier partnership, environmental variables and firm performance. Data for testing the model were collected by sending a questionnaire to a sample of retail industry in Indonesia. Hypothesized links depicted in the research model were tested using structural equation modeling. The findings show that supplier partnership affects positively firm performance in general term as well as across components of performance measurement. The empirical results suggest that the effect of environmental variables on supplier partnership is: market turbulence has a positive effect, competitive intensity and demand volatility have a negative effect.
CAN ACCOUNTING INFORMATION ACT AS A PROXY FOR EX ANTE UNCERTAINTY IN INITIAL PUBLIC OFFERINGS?
Gumanti, Tatang Ary
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This paper reviews and summarizes previous works and the rationale for the proposition that accounting information is in fact value relevant in the determination of an initial public offering IPO).Theoretical and empirical evidence has indicated that certain accounting measures can he used as proxies for total firm risk, that is, they could determine the riskiness of a corporation. The literature also advocates that accounting information is relevant in determining the value and thus the riskiness of a corporation through the use of accounting analysis. Since most of the information available in the prospectus is accounting information, it is arguable that this information represents a potential source for assessing the issuing firm. Some scholars have also advocated the possibility of using accounting information in assessing the value of firm making an IPO. Numerous papers have provided analytical and empirical evidence of the association between accounting numbers and the value of IPOs. The conclusion generally comes to show that information in the prospectus is value relevant concerning the IPO. The paper shows that it is indeed an arguable to use accounting information in the valuation of an IPO. Accordingly, it is an empirical issue whether accounting information has the property in explaining the ex-ante uncertainty of an IPO.
WHY MANUFACTURING INDUSTRY PERSISTED TO CLUSTER SPATIALLY IN JAVA?
Kuncoro, Mudrajad
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This paper attempts to examine which theory is best in explaining the geographic concentration in Java, an island in which most of the Indonesiaâs large and medium manufacturing industries have located overwhelmingly. Using the regional specialization index as a measure of geographic concentration of manufacturing industry and pooling data over the period 1991-J996, our econometric analysis integrates the perspectives of industry, region (space), and time. The most striking result is that most of the NCT (Neo-Classical Theory) hypotheses can be rejected. Moreover, most of the findings support the NTT (New Trade Theory) and NEG (New Economic Geography). Our findings suggest that manufacturing firms in Java seek to locate in more populous and densely populated areas to enjoy both localization economies and urbanization economies, as shown by the significance of scale economies and income per capita. The interplay of agglomeration economies is intensified by the imperfect competition of Javas market structure. This paper gives empirical evidence with respect to path dependency hypotheses. This finding supports the NEGs belief that history matters: older firms tend to enhance regional specialization. In addition, the results, as shown by statistical significance of its regional dummy, suggest that most of the specialized industries in Java have better access to infrastructure.
FROM ACTION LEARNING TOTHETEACHING ORGANIZATION: An Experiential Approach
Pawitra, Teddy;
Chan, K. C.
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This paper expounds action learning for effective change leadership development using the learning-teaching helix as a paradigm for individualâs introspection. Which consists of five phasesâAwareness phase (as certain your strengths and weaknesses). Alignment phase (identify your core competence). Action phase (synthesize your work, business and management skills), Adoption phase (becoming a leader) and Assurance phase (excel as an educator cum coach). In addition, to succeed, the individual has to plan, strategize, prioritize and integrate. As a holistic manager the individual needs to think, feel and do to evolve from continuous action learning to the cycle of teaching for continuous innovation in organizational performance capabilities.
FROM ACTION LEARNING TOTHETEACHING ORGANIZATION: An Experiential Approach
Teddy Pawitra;
K. C. Chan
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
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DOI: 10.22146/gamaijb.5406
This paper expounds action learning for effective change leadership development using the learning-teaching helix as a paradigm for individual’s introspection. Which consists of five phases—Awareness phase (as certain your strengths and weaknesses). Alignment phase (identify your core competence). Action phase (synthesize your work, business and management skills), Adoption phase (becoming a leader) and Assurance phase (excel as an educator cum coach). In addition, to succeed, the individual has to plan, strategize, prioritize and integrate. As a holistic manager the individual needs to think, feel and do to evolve from continuous action learning to the cycle of teaching for continuous innovation in organizational performance capabilities.
SERVICE QUALITY: Understanding customer Perception and Reaction, and Its Impact on Business
Nelson Oly Ndubisi
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
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DOI: 10.22146/gamaijb.5407
This paper is an attempt to explain the process and outcomes of customer services levels and how they shape customer perceptions (of their relationship with services providers) and reactions. As an entirely conceptual work, this paper proposes a model for understanding the pathway and the end of good and bad customer service. Implications of the study on theory and practice are discussed.
The Consumption Paradigm in Marketing
Eka Ardianto
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
Show Abstract
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Full PDF (1268.624 KB)
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DOI: 10.22146/gamaijb.5408
This article elaborates consumption paradigm in marketing. In background, this paper reviews different perspectives of consumption: economic perspective and marketing perspective. In ontology, this work describes various issues regarding consumption view. In epistemology, this article demonstrates how marketers especially researches explore the consumption phenomena. In methodology, the article describes experiential marketing –one of applied consumption paradigm in marketing, which could be an alternative choice of marketing practices.