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Journal of Indonesian Economy and Business

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Published by Universitas Gadjah Mada

ISSN : 20858272 EISSN : 23385847 DOI : -

Core Subject : Economy,

Economics, Econometrics & Finance

Journal of Indonesian Economy and Business (JIEB) is open access, peer-reviewed journal whose objectives 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 author from any institutional backgrounds and accepts rigorous empirical or theoretical research paper with any methods or approach that is relevant to the Indonesian economy and business content, as long as the research fits one of three salient disciplines: economics, business, or accounting.

Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)

Articles 14 Documents

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Search results for , issue "Vol 29, No 2 (2014): May" : 14 Documents clear

DEVELOPING A MEASURE OF LOCAL GOVERNMENTâS FINANCIAL CONDITION Ritonga, Irwan Taufiq
Journal of Indonesian Economy and Business Vol 29, No 2 (2014): May
Publisher : Journal of Indonesian Economy and Business

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This study develops an instrument to measure the financial condition of local governments(LG) in Indonesia. The instrument will serve as an early warning system for local governmentsâfinancial management. The instrument to measure their financial condition consists of sixdimensions, namely short-term solvency, long-term solvency, budgetary solvency, service-levelsolvency, financial flexibility, and financial independence. Each dimension has its own indicators.There are a total of eighteen indicators examined in this study. These indicators are combinedto form a composite index, called a Financial Condition Index (FCI). The reliability andvalidity of the composite index is analyzed and the results show that the measures developed inthis study are reliable and valid. In addition, the instrument possesses the criteria of a goodmeasure: it is theoretically sound, a comprehensive assessment, it has predictive ability, distinctiveability, it is practical, objective, and a resistant to manipulation and gaming.Keywords: financial condition, local government, short term solvency, long term solvency,budgetary solvency, service-level solvency, financial flexibility, financial independence

UNDERSTANDING SOCIAL ENTERPRISES IN INDONESIA: Budiarto, Teguh; Purnomo, Boyke R.; Rostiani, Rokhima; Paramita, Widya; Audita, Handini; Virgosita, Risa
Journal of Indonesian Economy and Business Vol 29, No 2 (2014): May
Publisher : Journal of Indonesian Economy and Business

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Entrepreneurship has been one of the biggest growth topics in the past decades. Someentrepreneurs engage in socially active activities that are strongly embedded in their entrepreneurialactivities and are known as social entrepreneurship. This research maps the presence ofsocial enterprises in Indonesia by investigating the personal and organizational contexts of thesocial entrepreneurs. Qualitative research was conducted by engaging in in-depth interviewswith 8 social enterprises in Indonesia. The findings of this research result in a unique andinteresting map of the presence of the social entrepreneurs that contributes significantly to theextant literatures of social entrepreneurship.* We would like to thank the anonymous reviewer andparticipants in the APCBSS 2014 Conference for theinsightful discussions, comments and advice for thispaper.Keywords: Social entrepreneurship, small and medium enterprise, entrepreneurship, strategy

THE IMPACTS OF COUNTRY-OF-ORIGIN, PRODUCT INVOLVEMENT, AND PRODUCT FAMILIARITY ON PRODUCT EVALUATION Nugroho, Sahid Susilo; Rostiani, Rokhima; Gitosudarmo, Indriyo
Journal of Indonesian Economy and Business Vol 29, No 2 (2014): May
Publisher : Journal of Indonesian Economy and Business

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One of the most interesting phenomena in global business is the existence of a productâscountry-of-origin (COO). COO as an informational cue has been proven to affect consumerâspurchasing decisions in terms of their perception towards the productâs attributes as well astheir overall evaluation of the product. The objective of this study is to investigate the impacts ofcountry-of-origin on product evaluation in the Indonesian market by considering consumersâproduct familiarity and consumersâ product involvement. Consumersâ perception of theproductâs country-of-origin is assumed to have a significant influence on consumersâ considerationsin evaluating the product prior to purchase. This impact is supposedly moderated by theextent that consumers are familiar with the productâs attributes and to what extent the productis important and interesting to them. A survey design was employed to test the proposedlinkages among the variables.The target population of the survey was Indonesian consumers of imported products. Thesample unit is the person who has experience in buying or consuming foreign products. Thesample of 307 persons was drawn from Yogyakarta. This study examined televisions torepresent a high involvement product. The country stimuli are Korea and Indonesia . The studyapplied the regression analyses and hierarchical moderated regression to test the proposedhypotheses. The study found that: (1) Indonesian consumers associate positively a productâscountry-of-origin with their decision in evaluating the product for both Indonesian and Koreanproducts, (2) Indonesian consumers consider the level of economic development of the countryof-origin in evaluating the product, in which the effect of the country-of-origin is stronger for aKorean product than an Indonesian product, (3) Indonesian consumers with different levels ofproduct familiarity do not evaluate a product differently for both Indonesian and Koreanproducts, (4) Indonesian consumers with different levels of product involvement evaluate aKorean product differently.Keywords: country-of-origin, product evaluation, Korea, TV Product

TASK-TECHNOLOGY FIT AND PERSON-JOB FIT: A BEAUTY CONTEST TO IMPROVE THE SUCCESS OF INFORMATION SYSTEMS Suryani, Woro Dwi; Sumiyana, Sumiyana
Journal of Indonesian Economy and Business Vol 29, No 2 (2014): May
Publisher : Journal of Indonesian Economy and Business

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This study raises the issue that information system success could be enhanced by complementingother factors. This study investigates the success of information systems by inducing2the task-technology fit (TTF) and person-job fit (PJF) into the DeLone and McLean model. Thisstudy aims to examine, among the two induced factors, which one is able to explain andimprove the success of the information systems implementation.The results of this study indicate that the TTF explains the modelsâ goodness of fit betterthan that of the PJF when induced into the modified DeLone and McLean model. This studyimplies this in terms of both theory and practice. Theoretically, this research presents an alternativeresearch model that can be used to investigate the success of information systems byconsidering the aspect of the usersâ cognitive suitability (the cognitive fit theory). Furthermore,practically, this study suggests the importance of focusing on usersâ skills and competenciesand, subsequently, management should do so. Additionally, the TTF recommends a simpleproposition that it could be attached immediately into the individualsâ skills and competencies.However, the PJF needs to be deeply embedded in the jobâs qualifications and recruitmentpolicies.Keywords: DeLone and McLean Model, inducement, task-technology fit, person-job fit

THE IMPACT ON FARM PROFITS OF A COMPANYâS PARTNERSHIP WITH A POTATO FARM Hamidi, Hirwan
Journal of Indonesian Economy and Business Vol 29, No 2 (2014): May
Publisher : Journal of Indonesian Economy and Business

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This research aims to explain the impact of the partnership on potato farmsâ profits inSembalun District, West Nusa Tenggara Province. To achieve this goal, we looked at 142farmers, comprising of 111 partnered farmers and 31 non-partnered farmers. The conclusionsfrom our profit function analysis were: (i) the partnership had a positive impact on potatofarmersâ profits in Sembalun District, West Nusa Tenggara Province; (ii) productivity, inputcosts, and labor costs had a significant influence on profits as an impact of the partneship. Inthis context, it is recomended that the local government encourage and facilitate potato farmerswho have not yet established a partnership to enter such an arrangement with the company, sothat their productivity and incomes increase. In addition, the local government is expected tobuild storage facilities for potato seeds. Future research should search for potato seeds that canreplace the imported ones.Keywords: impact, partnership, profit, potato

PRICE STABILIZATION AND IPO UNDERPRICING: AN EMPIRICAL STUDY IN THE INDONESIAN STOCK EXCHANGE Husnan, Suad; Hanafi, Mamduh M.; Munandar, Muhammad
Journal of Indonesian Economy and Business Vol 29, No 2 (2014): May
Publisher : Journal of Indonesian Economy and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar

We attempt to investigate IPO underpricing and stabilization activities. We find IPOunderpricing of around 25% in the Indonesia market. Return distribution for the first 30-tradingdays shows a positive skew, the distribution becomes closer to normality as the periodlengthens. We then develop and test five algorithms to detect IPO intervention. An importantgoal of this paper is to develop an algorithm that will be able to detect IPO intervention usingpublic data. We find that the number of closing prices that are equal to the offer prices and theskewness of the IPO return in the first 30-trading days are the âbestâ stabilization measures.Having found âthe best measuresâ, then we investigate under what conditions IPO interventionis more intensive. We find that underwriters tend to stabilize more on more expensive IPOs.Keywords: IPO, Indonesia, underpricing, stabilization

TASK-TECHNOLOGY FIT AND PERSON-JOB FIT: A BEAUTY CONTEST TO IMPROVE THE SUCCESS OF INFORMATION SYSTEMS Woro Dwi Suryani; Sumiyana Sumiyana
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 2 (2014): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study raises the issue that information system success could be enhanced by complementing other factors. This study investigates the success of information systems by inducing2 the task-technology fit (TTF) and person-job fit (PJF) into the DeLone and McLean model. This study aims to examine, among the two induced factors, which one is able to explain and improve the success of the information systems implementation. The results of this study indicate that the TTF explains the models’ goodness of fit better than that of the PJF when induced into the modified DeLone and McLean model. This study implies this in terms of both theory and practice. Theoretically, this research presents an alternative research model that can be used to investigate the success of information systems by considering the aspect of the users’ cognitive suitability (the cognitive fit theory). Furthermore, practically, this study suggests the importance of focusing on users’ skills and competencies and, subsequently, management should do so. Additionally, the TTF recommends a simple proposition that it could be attached immediately into the individuals’ skills and competencies. However, the PJF needs to be deeply embedded in the job’s qualifications and recruitment policies.

THE IMPACT ON FARM PROFITS OF A COMPANY’S PARTNERSHIP WITH A POTATO FARM Hirwan Hamidi
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 2 (2014): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This research aims to explain the impact of the partnership on potato farms’ profits in Sembalun District, West Nusa Tenggara Province. To achieve this goal, we looked at 142 farmers, comprising of 111 partnered farmers and 31 non-partnered farmers. The conclusions from our profit function analysis were: (i) the partnership had a positive impact on potato farmers’ profits in Sembalun District, West Nusa Tenggara Province; (ii) productivity, input costs, and labor costs had a significant influence on profits as an impact of the partneship. In this context, it is recomended that the local government encourage and facilitate potato farmers who have not yet established a partnership to enter such an arrangement with the company, so that their productivity and incomes increase. In addition, the local government is expected to build storage facilities for potato seeds. Future research should search for potato seeds that can replace the imported ones.

PRICE STABILIZATION AND IPO UNDERPRICING: AN EMPIRICAL STUDY IN THE INDONESIAN STOCK EXCHANGE Suad Husnan; Mamduh M. Hanafi; Muhammad Munandar
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 2 (2014): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

We attempt to investigate IPO underpricing and stabilization activities. We find IPO underpricing of around 25% in the Indonesia market. Return distribution for the first 30-trading days shows a positive skew, the distribution becomes closer to normality as the period lengthens. We then develop and test five algorithms to detect IPO intervention. An important goal of this paper is to develop an algorithm that will be able to detect IPO intervention using public data. We find that the number of closing prices that are equal to the offer prices and the skewness of the IPO return in the first 30-trading days are the ‘best’ stabilization measures. Having found “the best measures”, then we investigate under what conditions IPO intervention is more intensive. We find that underwriters tend to stabilize more on more expensive IPOs.

DEVELOPING A MEASURE OF LOCAL GOVERNMENT’S FINANCIAL CONDITION Irwan Taufiq Ritonga
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 2 (2014): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study develops an instrument to measure the financial condition of local governments (LG) in Indonesia. The instrument will serve as an early warning system for local governments’ financial management. The instrument to measure their financial condition consists of six dimensions, namely short-term solvency, long-term solvency, budgetary solvency, service-level solvency, financial flexibility, and financial independence. Each dimension has its own indicators. There are a total of eighteen indicators examined in this study. These indicators are combined to form a composite index, called a Financial Condition Index (FCI). The reliability and validity of the composite index is analyzed and the results show that the measures developed in this study are reliable and valid. In addition, the instrument possesses the criteria of a good measure: it is theoretically sound, a comprehensive assessment, it has predictive ability, distinctive ability, it is practical, objective, and a resistant to manipulation and gaming.

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Home Page

OAI Link

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Contact Name Wuri Handayani, Ph.D.

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Editorial Address Faculty of Economics and Business, Universitas Gadjah Mada Jalan Sosio Humaniora No. 1, Yogyakarta 55281

Location Kab. sleman, Daerah istimewa yogyakarta INDONESIA

Abstract

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Contact Name
Wuri Handayani, Ph.D.

Contact Email
-

Phone
-

Journal Mail Official
-

Editorial Address
Faculty of Economics and Business, Universitas Gadjah Mada Jalan Sosio Humaniora No. 1, Yogyakarta 55281

Location
Kab. sleman,

Daerah istimewa yogyakarta

INDONESIA