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Gadjah Mada International Journal of Business
ISSN : 14111128     EISSN : 23387238     DOI : -
Core Subject : Economy,
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.
Arjuna Subject : -
Articles 617 Documents
Is Physical Evidence Still Valid? A Study of Low Cost Carriers in Indonesia Soelasih, Yasintha
Gadjah Mada International Journal of Business Vol 17, No 3 (2015): September-December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

Physical evidence has been widely accepted as variable that has impact on satisfaction, specifically in airline service. However, this study showed some opposite result for low cost airlines in Indonesia. It revealed that physical evidence has no effect on the passengers’ satisfaction but the fares and its service quality to passengers.’ This study collected sample of 317 passengers from commercial domestic flights at terminal 1, 2, and 3 at Soekarno Hatta airport in Cengkareng, Indonesia. The variables used in this study were: fares, service quality, physical evidence, passengers’ satisfaction levels and repeat buying. Two variables, i.e.: service quality and physical evidence were treated as second order. This study used Structural Equation Modeling (SEM) for verification analysis. The result revealed that there was no effect of physical evidence on the passengers’ satisfaction. It also found that repeat buying demonstrated the passengers’ satisfaction.
Analysis of The Influence of Liquidity, Credit and Operational Risk, in Indonesian Islamic Bank’s Financing for The Period 2007-2013 Diallo, Ousmane; Fitrijanti, Tettet; Tanzil, Nanny Nanny
Gadjah Mada International Journal of Business Vol 17, No 3 (2015): September-December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The purpose of this paper is to analyze the influence of credit, liquidity and operational risks in six Indonesian’s islamic banking financing products namely mudharabah, musyarakah, murabahah, istishna, ijarah and qardh, in order to try to discover whether or not Indonesian islamic banking is based on the “risk-sharing” system. This paper relies on a fixed effect model test based on the panel data analysis method, focusing on the period from 2007 to 2013. The research is an exploratory and descriptive study of all the Indonesian islamic banks that were operating in 2013. The results of this study show that the Islamic banking system in Indonesia truly has banking products based on “risk-sharing.” We found out that credit, operational and liquidity risks as a whole, have significant influence on mudarabah, musyarakah, murabahah, istishna, ijarah and qardh based financing. There is a correlation between the credit risk and mudarabah based financing, and no causal relationship between the credit risk and musharaka, murabahah, ijarah, istishna and qardh based financing. There is also correlation between the operational risk and mudarabah and murabahah based financing, and no causal relationship between the operational risk and musharaka, istishna, ijarah and qardh based financing. There is correlation between the liquidity risk and istishna based financing, and no causal relationship between the liquidity risk and musharaka, mudarabah, murabahah, ijarah and qardh based financing. A major implication of this study is the fact that there is no causal relationship between the credit risk and musharakah based financing, which is the mode of financing where the islamic bank shares the risk with its clients, but there is an influence of credit risk toward mudarabah mode financing, a financing mode where the Islamic bank bears all the risk. These findings can lead us to conclude that the Indonesian Islamic banking sector is based on the “risk sharing” system.
AKNOWLEDGEMENT IJB, Gama
Gadjah Mada International Journal of Business Vol 17, No 3 (2015): September-December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

Aknowledgement
Investigating the Effects of Consumer Innovativeness, Service Quality and Service Switching Costs on Service Loyalty in the Mobile Phone Service Context Farzana Quoquab; Nor Liza Abdullah; Jihad Mohammad
Gadjah Mada International Journal of Business Vol 18, No 1 (2016): January-April
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (323.447 KB) | DOI: 10.22146/gamaijb.9286

Abstract

The objective of this study is to examine the effects of consumer innovativeness, service quality, service switching costs and service satisfaction on service loyalty among mobile phone service users. A cross sectional survey was employed which yielded 535 responses. Structural equation modelling using the AMOS version 2.0 was utilized to test study the hypotheses. Test results reveal that service satisfaction, service switching costs and service quality are the three antecedents that directly influence service loyalty. However, consumer innovativeness does not have any direct effect on service loyalty. Moreover, service satisfaction is found to be a partial mediator between ‘service quality’ and ‘service loyalty’. Findings from this study will develop insights to enable policy-makers, managers and marketers to better strategize and effectively implement loyalty programs and prevent their customers from switching. This will enhance value creation for both their users and for the industry.
The Link between HR Attributions and Employees’ Turnover Intentions Juliana Caesaria Tandung
Gadjah Mada International Journal of Business Vol 18, No 1 (2016): January-April
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (207.186 KB) | DOI: 10.22146/gamaijb.9287

Abstract

Human Resources Management (HRM) is part of the organizational functions that contribute to the effectiveness of a firm’s performance, and brings an organization a competitive advantage through the implementation of its Human Resources (HR) practices. HR practices adopted by management are perceived or attributed subjectively by individual employees, and can in turn affect the employees’ attitudes and behavior (e.g. Job satisfaction and turnover intention). The purpose of this study is to contribute to the process-based approach by investigating the effect of HR attributions on turnover intentions, with job satisfaction playing a mediating role. The analysis is on the individual level, with 454 respondents from various organizations within the Netherlands. The results show that HR attributions can affect the turnover intention, through the presence of job satisfaction. Thus, it can be said that it is important to always consider the employees’ attitudes and behavior when examining their perception of HR practices, and in predicting their intention to leave.
The Green Shoe Option’s Effectiveness at Stabilizing the IPO’S Stock Price on the Indonesian Stock Exchange (2000-2013) Siti Saadah; Yunia Panjaitan
Gadjah Mada International Journal of Business Vol 18, No 1 (2016): January-April
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (198.789 KB) | DOI: 10.22146/gamaijb.9292

Abstract

The increased of price volatility due to positive initial returns will reduce investor confidence and impact on the overall market. Market stabilization mechanism is needed to control the price volatility. This research is intended to explore the effectiveness of Green-Shoe Option in reducing stock price volatility after IPO. This study is done through GARCH model development intended to identify the volatility of IPO shares price. This research compares the volatility price of company shares that apply Green shoe option at IPO with companies that do not apply it. The result of this research on companies that conduct IPO on 2000-2013 periods showed that the green shoe option stabilization program which was used by the issuers was effective in muffing the stock prices’ volatility. Therefore, according to researchers Green Shoe Option stabilization program can be used to prevent or ease the drop of shares price under Public offering.
The Javanese Lunar Calendar’s Effect on Indonesian Stock Returns Robiyanto, Robiyanto; Siti Puryandani
Gadjah Mada International Journal of Business Vol 17, No 2 (2015): May-August
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (198.618 KB) | DOI: 10.22146/gamaijb.6906

Abstract

It is very possible for an investor to take a decision based on superstitions and common beliefs. Actually, Indonesia has a specific calendar system called the Javanese lunar calendar. The Javanese calendar contains several special days because of their sacred characteristics such as “Kamis Wage” (Thursday Wage) and “Jum’at Kliwon” (Friday Kliwon). The day of Friday Kliwon is often considered to be the most frightening which is similar to Friday the Thirteenth in Western culture. This study tried to scrutinize the impact of those sacred days on Indonesian stock returns. By applying GARCH-M, the finding shows that the Javanese lunar calendar does not have any impact on the Indonesian stock returns, but does affect the investors’ risk aversion level. This study has proven that, in terms of risk aversion, investors’ behavior in Indonesia is influenced by superstition.
Debunking the Monday Irrationality through the External Affection of Investors Rayenda Brahmana; Chee-Wooi Hooy; Zamri Ahmad
Gadjah Mada International Journal of Business Vol 18, No 1 (2016): January-April
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (305.477 KB) | DOI: 10.22146/gamaijb.9293

Abstract

This study aims to reveal the mechanism of the influences of the full moon and high temperatures on investors’ Monday irrationality. In contrast to other studies, this research was built under a retroductive approach by using a time series quasi experimental study. Investors were directly assessed for their irrationality by using an adapted psychometric test on 4 occasions. The results indicate that there were indeed effects of the full moon and high temperatures on investors’ irrationality. Because the full moon and high temperatures frequently occurred on Mondays, it is most probably those two variables that were the drivers of the Monday irrationality. In the end, we concluded that the rational behaviour assumption can no longer be held. Instead of rationality, the investors were quasi rational. The utility function of Von Neumann-Morgenstern in decision making has to be replaced by the hedonic utility.
The Role of Emotional and Rational Trust in Explaining Attitudinal and Behavioral Loyalty: An Insight Into SME Brands Chuan Huat Ong; Salniza Md. Salleh; Rushami Zien Yusoff
Gadjah Mada International Journal of Business Vol 18, No 1 (2016): January-April
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (255.617 KB) | DOI: 10.22146/gamaijb.9285

Abstract

Brand trust is a powerful asset for Small and Medium size Enterprises (SMEs) to retain good relationships with their loyal customers, to ensure their long term survival. However, SME managers first need to understand the consequences of the two unique emotional and rational components of trust on attitudinal and behavioral loyalty, because both loyalty dimensions have unique consequences for a brand’s performance. Hence, this study aims to answer two research issues: (1) Do brand intentions and brand reliability influence both attitudinal loyalty and behavioral loyalty? (2) Which component of trust explains attitudinal and behavioral loyalty more? Data were obtained from 210 customers through the use of an intercept survey method on successful SME brands in the restaurant industry. The findings revealed that emotional and rational trust influenced both attitudinal and behavioral loyalty. Despite that, customers have a higher tendency to exhibit attitudinal and behavioral loyalty when a brand can be relied upon to deliver on its promises.
Exploring Conflict Management Using Qualitative Approach Zaleha Yazid
Gadjah Mada International Journal of Business Vol 17, No 1 (2015): January-April
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (235.413 KB) | DOI: 10.22146/gamaijb.6150

Abstract

This paper focuses on qualitative methods in researching the area of conflict management, specifically in Self-Managed Project Team (SMPT). The research aims to explore the evolvement of conflict management strategies in SMPT as this type of team is given the responsibility to solve problems and make decision by themselves. The inductive approach will overcome the limitation of quantitative method in management research as one of its objectives is to explain the different elements of the explored social system and their interconnection. Hence, it aims at the contextual understanding of social behavior rather than extensive measurement. This paper also includes the research activities in details such as the data collection methods which involved semi-structured interviews and weekly telephone interviews. The findings of the research proposed that conflict management strategies in SMPT changes over time from confrontation and cooperative style towards avoidance due to the issues of reputation and the deadline.

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