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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
Can Backward-looking and Forward-looking Information Debias Prospect Effect in Earnings Announcement? Jogianto Hartono; Sri Wahyuni
Gadjah Mada International Journal of Business Vol 19, No 3 (2017): September-December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (269.142 KB) | DOI: 10.22146/gamaijb.26282

Abstract

This study examines the important issue of whether additional pieces of information about the earnings’ characteristics (their quantitative description and predicted earnings) can debias the prospect effect of the earnings’ announcement. The prospect effect bias can be mitigated by the availability of clear information and an integrated disclosure. Additional information that is included with the previous information will make the investors’ beliefs stronger  and it will debias any psychological effects.This research confirms the prospect effect’s bias that investors react more negatively when evaluating a company’s performance after a negative earnings information disclosure rather than react positively in evaluating the performance for a positive earnings information disclosure. The results also show that when additional pieces of information, such as a quantitative description and predicted earnings are added, they can mitigate the prospect effect’s bias. Additional information of predicted earnings as forward-looking oriented information has a stronger debiasing effect than that of additional information of a quantitative description as backward-looking oriented information.
INTRAGROUP COOPERATION VS. INTRAGROUP COMPETITION: A Meta-Analytical Study Ainun Na'im
Gadjah Mada International Journal of Business Vol 6, No 3 (2004): September-December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (43.883 KB) | DOI: 10.22146/gamaijb.5552

Abstract

This study examines whether intragroup cooperation outperforms intragroup competition. Intragroup cooperation is a work setting when individuals in a group perceive that their goal attainments are positively related; while intragroup competition is a work setting when individuals in a group perceive that their goal attainments are negatively related. Performance is defined as group productivity level, speed of solving problems, and quality of the group outcomes.Meta-analytical method is used to test the hypothesis. The method combines and compares eight studies from various research disciplines i.e., education, psychology, organization, and business and accounting. The studies being analyzed also vary in terms of the research and experimental setting such as manufacturing operations and problem solving games.Meta-analytical study is relatively rare in Indonesia, so that this study is important to introduce and to show the importance and the benefit of the analysis for concluding a large number and different research in a similar domain of research question.  In a simple term, a meta-analysis is a quantitative literature review. However, the analysis has a more powerful procedure (than the conventional literature review) to indicate more clearly, and in quantitative terms, the consistency, the differences and similarities of previous studies.The author found that intragroup cooperation outperforms intragroup competition is held across different experimental subject educational backgrounds such as education, psychology, and business and accounting. However, the extent of the difference in performance is higher in the subjects with psychology background than that of the subjects with business and accounting background. The reason is that business and accounting subjects are more exposed to competitive environments than those whose backgrounds are psychology and sociology.
THE RELATIONSHIPS BETWEEN SUPPLIER PARTNERSHIP, ENVIRONMENTAL VARIABLES ANDFIRM PERFORMANCE IN RETAIL INDUSTRY Agus W. Soehadi
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 | Download Original | Original Source | Check in Google Scholar | Full PDF (1649.197 KB) | DOI: 10.22146/gamaijb.5409

Abstract

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.
The Relationships among Customer Value, Satisfaction and Behavioral Intentions: A General Structural Equation Model Wahyuningsih Wahyuningsih
Gadjah Mada International Journal of Business Vol 7, No 3 (2005): September-December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (277.705 KB) | DOI: 10.22146/gamaijb.5584

Abstract

The objective of this paper is to present a comprehensive framework of relationships among customer value, satisfaction, and behavioral intentions. Before testing the model, literature review on the three constructs is presented. From this review, three hypotheses are proposed and tested in this study: (1) Customer value is antecedent to customer satisfaction, (2) Customer value has a direct link to behavioral intentions, and (3) The relationship between customer value and behavioral intentions is mediated by customer satisfaction. Structural Equation Modeling using AMOS 5 was employed to test the model. The result suggests that the relationship between customer value and behavioral intentions is mediated by customer satisfaction.
Efficiency of S&P CNX Nifty Index Option of the National Stock Exchange (NSE), India, using Box Spread Arbitrage Strategy G. P. Girish; Nikhil Rastogi
Gadjah Mada International Journal of Business Vol 15, No 3 (2013): September - December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (255.272 KB) | DOI: 10.22146/gamaijb.5473

Abstract

Box spread is a trading strategy in which one simultaneously buys and sells options having the same underlying asset and time to expiration, but different exercise prices. This study examined the efficiency of European style S&P CNX Nifty Index options of National Stock Exchange, (NSE) India by making use of high-frequency data on put and call options written on Nifty (Time-stamped transactions data) for the time period between 1st January 2002 and 31st December 2005 using box-spread arbitrage strategy. The advantages of box-spreads include reduced joint hypothesis problem since there is no consideration of pricing model or market equilibrium, no consideration of inter-market non-synchronicity since trading box spreads involve only one market, computational simplicity with less chances of mis-specification error, estimation error and the fact that buying and selling box spreads more or less replicates risk-free lending and borrowing. One thousand three hundreds and fifty eight exercisable box-spreads were found for the time period considered of which 78 Box spreads were found to be profitable after incorporating transaction costs (32 profitable box spreads were identified for the year 2002, 19 in 2003, 14 in 2004 and 13 in 2005) The results of our study suggest that internal option market efficiency has improved over the years for S&P CNX Nifty Index options of NSE India.     
Who Moves the Malaysian Stock Market— the U.S. or Japan?: Empirical Evidence from the Pre-, During, and Post-1997 Asian Financial Crisis Rosylin Mohd. Yusof; M. Shabri Abd. Majid
Gadjah Mada International Journal of Business Vol 8, No 3 (2006): September-December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (537.161 KB) | DOI: 10.22146/gamaijb.5616

Abstract

This paper examines long run co-movements between Malaysian stock market and the two largest stock markets in the world: the U.S. and Japan. By employing time-series analysis, i.e., cointegration, variance decompositions, and impulse response functions, the paper seeks to investigate which market actually leads the Malaysian stock market before, during, and after the 1997 Asian financial crisis periods. The results indicate that there is a co-movement of these markets only in the post crisis period. The Japanese stock market is found to significantly move the Malaysian stock market compared to U.S. stock market for the post-crisis period. At the same time, there seems to be a growing proportion of bilateral trade between Malaysia and Japan during the mentioned period. This finding seems to be consistent with the view that the stronger the bilateral trade ties between two countries, the higher the degree of co-movements (Masih and Masih 1999; Bracker et al. 1999; Pretorius 2002; Ibrahim 2003; Kearney and Lucey 2004). Our finding implies that the opportunities of gaining abnormal profits through investment diversification during the post-crisis period in the Malaysian and Japanese stock markets are diminishing as the markets move towards a greater integration. This further implies that any development in the Japanese economy has to be taken into consideration by the Malaysian government in designing policies pertaining to Malaysian stock market.
Psychological Factors and Reference Potential of Market Mavens Jofi Puspa
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (62.31 KB) | DOI: 10.22146/gamaijb.5520

Abstract

The function of a market maven in the information transfer processes is apparently related to one’s psychological states such as inherent knowledge and involvement level. Understanding reference potential of mavens seems to be relevant to comprehend the implicit value of a maven in the communication process. This study shows that (1) apparently, maven groups can be clearly distinguished from a non-maven group on the basis on inherent personal knowledge level and involvement level; (2) market mavens have a high reference potential which confirmed their function in WOM-information.
Business Location and Success: The Case of Internet Café Business in Indonesia Nurul Indarti
Gadjah Mada International Journal of Business Vol 6, No 2 (2004): 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 (389.771 KB) | DOI: 10.22146/gamaijb.5543

Abstract

This research aims to examine the relationship between business location decision and business success. The case is Internet café business in Indonesia. This research is addressed to answer these main questions: (1) what factors do underlie location decision for an Internet café business?; and (2) does location decision determine success of Internet café business? A field research is conducted to answer these questions.Factor analysis applied to 17 location factors reveals five underlying dimensions of business location decision. They are centrality, business environment, business venue, cost, and labor. Based on responses from 93 Internet cafés in three locations (i.e. Yogyakarta, Surabaya, and Lombok), the author finds that favorable location of business is positively related to business success. More specifically, a regression analysis reveals that availability of utilities, proximity to schools/universities and security affect business success in a positive direction, while proximity to highways, being in commercial center affect in a negative direction. The independent variables explain 23 percent of total variance.
Explaining IT Outsourcing Satisfaction using Domberger’s Theory: An SME Perspective Ching-Seng Yap; Yet-Mee Lim; Teck-Heang Lee
Gadjah Mada International Journal of Business Vol 15, No 1 (2013): 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 (206.442 KB) | DOI: 10.22146/gamaijb.5400

Abstract

IT outsourcing has emerged as an important tool for enabling organizations to gain access to specific skills and services, focus on their core competencies, and reduce the cost of IT service provision. With the increasing number of IT outsourcing failures, it is timely to identify the determinants of IT outsourcing satisfaction. This study investigates the types of IT function outsourced and examines the factors influencing customer satisfaction in IT outsourcing in Malaysian small- and medium-enterprises. Using an email questionnaire survey, data are collected from 100 firms listed on the Directory of Small and Medium Enterprises in Malaysia. Drawing from Domberger’s Theory of the Contracting Organization, four hypotheses are developed and tested in this study. Using the PLS path modelling technique, the findings show that focus on core competency, cost reduction, access to IT expertise and skills, and flexibility are positively related to customer satisfaction in IT outsourcing. The paper includes implications and recommendations for future studies.
Balance Sheet Vulnerability and Macroeconomic Management in Indonesia Miranda Swaray Goeltom
Gadjah Mada International Journal of Business Vol 7, No 2 (2005): 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 (891.493 KB) | DOI: 10.22146/gamaijb.5575

Abstract

The economic and financial crises hitting Indonesia in 1997 have triggered a significant economic downturn. A critical issue addressed is how common shocks during crisis period have brought about macroeconomic outcome. The paper briefly discusses the problems, response and lessons learnt in the country’s effort to restore the economy to its long-term potential growth path. By examining balance sheet conditions across sectors in the economy, it is shown that even though some progress has been achieved, overall balance sheet conditions are still vulnerable to further shocks that may hit the economy, so that efforts to restore economic growth and stability face substantial challenges. Considering these constraints, Indonesian macroeconomic policy makers focus their efforts on strengthening financial markets, among others, by developing bond markets and implementing banking architecture. However, various constraints will remain unless the government speeds up the necessary reforms, mostly institutional in nature.

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