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INDONESIA
Journal of Indonesian Economy and Business
ISSN : 20858272     EISSN : 23385847     DOI : -
Core Subject : Economy,
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.
Articles 989 Documents
FINANCIAL CRISIS AND ITS IMPACTS ON POVERTY IN INDONESIA Mubyarto, Mubyarto
Journal of Indonesian Economy and Business Vol 18, No 1 (2003): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

Krisis keuangan di Asia Timur menyebar dari Thailand ke Indonesia dan negara-negara lainnya di kawasan Asia Timur melalui pasar uang dan pasar modal di mana matauang lokal terdepresiasi dengan cepat dan dalam jumlah yang besar.Akibat dari krisis tersebut terhadap kemiskinan sangat cepat karena depresiasi matauang lokal mengindikasikan kenaikan harga-harga umum secara tiba-tiba, terutama harga makanan yang sebagian besar merupakan produk impor. Inflasi tersebut kemudian dengan serius mempengaruhi rakyat miskin karena mereka tidak mampu untuk mencukupi kebutuhan pangan. Konsekuensinya, kemiskinan meningkat dan proporsi populasi yang berada di bawah garis kemiskinan meningkat pula.Untungnya, inflasi yng tinggi pada tahun 1998 sebesar 78 persen dapat dikontroldengan cepat dan inflasi tersebut menurun hingga hanya 2 persen pada tahun 1999 dankemudian kembali ke “normal” sekitar 10 persen pada periode 2000-2001. Penurunanharga bahan pangan secara otomatis pula menurunkan jumlah rakyat miskin hingga 50persen. Ini disebut sebagai “transient poverty”.Indonesia pada saat ini masih menghadapi krisis keuangan dan perbankan, namunposisi ekonomi masyarakat, termasuk rakyat miskin, telah kembali ke keadaan normal.Ekonomi rakyat memang membuktikan kemampuannya untuk bertahan di tengah krisis.Namun demikian, sangat disayangkan bahwa media masih terus membesar-besarkan krisis keuangan yang merefleksikan kepentingan sektor swasta agar tidak perlu ditekan untuk mengembalikan utang mereka yang sangat besar jumlahnya.Kata kunci: Krisis moneter, kemiskinan sementara, IDT.
ILMU EKONOMI DAN PEMBANGUNAN INDONESIA (A DEVELOPMENT MANIFESTO FOR INDONESIA) Mubyarto, Mubyarto; Bromley, Daniel W.
Journal of Indonesian Economy and Business Vol 17, No 1 (2002): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

Economic development must be thought of as a process in which a gradual and self-reinforcing evolution of institutions (“working rules”) gets underway, all the while being informed and guided by the explicit purpose of: (1) encouraging economic growth; (2) enhancing the equality with which the benefits of that growth are shared; and (3) assuring that natural assets are not degraded in a manner that will compromise in the future either continued growth, or continued sharing of the benefits of growth. We see that institutions are central to growth, poverty alleviation, and sustainability. We also see that economic growth – increases in per capita GDP (or GNP) – is not sufficient unless it is also accompanied by a simultaneous and plausibly sustainable decrease in social inequality, and unless growth is not destructive of future growth and development.The process of economic development must incorporate three central ideas. These concepts concern ethics, law, and economics. Ethics concern collective perceptions of what is good and just not only in the present, but in terms of objectives to be pursued in the future. Law concern the application of the collective power to mediate and to enforce that ethical consensus – always with an eye to the future. Economics concerns the calculation of profit and loss predicated upon: (1) the ethical base of the nation state as a going concern; and (2) upon the legal foundations that give substance and content to the prior ethical foundations of that nation state.Keywords: Poverty Alleviation, Institutional Economics, People’s Economy.
ANALISIS ARAH KAUSALITAS (CAUSAL ORDERING) Gudono, Gudono
Journal of Indonesian Economy and Business Vol 21, No 1 (2006): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

When researchers test a model that represents the effect an independent variable onanother—dependent-- variable, many researchers commonly do not further investigateabout the correctness of the causal direction of the model. Hypothesis testing of suchmodel is generally done by assuring that the model coefficients are statisticallysignificant assuming that the direction of the causality is indeed correct. Hence, thedirection of the causality of these models is simply ex ante assumed, which means that thedirection could be incorrectly stated. The effect of this mistake could be enormous,particularly if findings of the study, which adopt an incorrect causal order, are used forpolicy makingt. This study discusses two approaches in testing the causal ordering of amodel, i.e., the Granger and Sim’s tests as well as SCDTs test of causality, which couldbe either used in an experimental or nonexperimental setting. Findings of two empiricalresearches written by Gudono (2006) and Chong and Chong (2002) are discussed andused as an illustration.(Keywords: causal ordering, lagged- regression, the sequential Chi-Square Differences tests (SCDTs), Type I, Type II, and Type III errors).
THE IMPACT OF SEC RULING ON THE STOCK RETURNS: THE CASE OF OIL AND GAS COMPANIES Suwardjono, Suwardjono
Journal of Indonesian Economy and Business Vol 17, No 3 (2002): July
Publisher : Journal of Indonesian Economy and Business

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Abstract

Studi-studi peristiwa (event studies) dalam bidang akuntansi menuntut identifikasi peristiwa yang berkaitan langsung dengan masalah akuntansi. Studi peristiwa tidak sekadar mengambil peristiwa yang monumental atau sensasional dan mengukur pengaruhnya terhadap reaksi pasar modal. Penelitian ini mengidentifikasi peristiwa yang erat kaitannya dengan standar akuntansi yang menyangkut pemilihan metoda akuntansi. Metoda kos penuh atau full cost (FC) dan metoda usaha sukses atau successful efforts (SE) menjadi fokus penelitian ini.Penelitian ini menguji apakah peristiwa penolakan pemberlakuan kembali standar akuntansi yang telah lama ditunda penerapannya ditanggapi secara berbeda oleh investor perusahaan FC dan SE. Penelitian ini menjawab teori tentang pengaruh balik (reversal effect) dari peristiwa yang sebelumnya ditanggapi pasar secara negatif. Secara khusus, penelitian ini menguji hipotesis apakah investor untuk perusahaan FC menanggapi secara lebih positif terhadap keputusan penolakan pemberlakuan kembali SFAC No. 19 dibanding investor untuk perusahaan SE.Reaksi pasar diukur atas dasar return abnormal dan return abnormal kumulatif. Pengujian dengan basis return abnormal tidak mendukung hipotesis sedangkan pengujian berbasis return abnormal kumulatif mendukung hipotesis. Hal ini menunjukkan bahwa, dalam jendela peristiwa tertentu, return abnormal kumulatif mungkin lebih banyak mengandung informasi dalam perioda return abnormal.Kata kunci: return abnormal, return abnormal kumulatif, kos penuh, minyak dan gas bumi, standar akuntansi, studi peristiwa, usaha sukses.
RETHINKING OF MY EXPERIENCE AS A MINISTRY OF FINANCE: STABILIZATION IN A PERIOD OF TRANSITION; INDONESIA 2001 –2004 Boediono, Boediono
Journal of Indonesian Economy and Business Vol 20, No 4 (2005): October
Publisher : Journal of Indonesian Economy and Business

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Abstract

Artikel ini menggambarkan bagaimana proses kebijakan ekonomi dilakukan dalampraktek berdasarkan pengalaman di Indonesia sewaktu masa pemerintahan Megawati2001-2004. Pada tahun 2001 ekonomi Indonesia mengalami ketidakstabilan makro yangbersumber dari hilangnya kepercayaan para pelaku ekonomi terhadap kebijakanpemerintah. Di sini ditunjukkan langkah-langkah apa yang diambil untuk mengembalikankepercayaan tersebut, hambatan-hambatan apa yang dihadapi dalam praktek terutamakarena Indonesia juga sedang mengalami masa transisi politk yang mendasar. Prinsipekonomi yang melandasi kebijakan pemerintah cukup sederhana, namun yang rumit adalah penerapannya dalam praktek. Hambatan politik-ekonomi itu satu per satu diselesaikan dan hasilnya adalah ekonomi Indonesia yang stabil dalam tahun 2004. Satu hal yang belum dapat dicapai pada waktu itu adalah bagaimana meningkatkan investasi dan pertumbuhan ekonomi yang cukup tinggi untuk mengurangi pengangguran dan kemiskinan. Ini memerlukan pembenahan struktural untuk memperbaiki iklim usaha dan iklim investasi yang sifatnya berjangka menegah dan panjang. Inilah tantangan yang harus ditanggulangi oleh pemerintahan sekarang tanpa mengorbankan stabilitas ekonomi yang sudah dicapai.Keywords: Government policy, fiscal policy, monetary policy.
PENGARUH VARIABEL INTERVENING KECUKUPAN ANGGARAN DAN KOMITMEN ORGANISASI TERHADAP HUBUNGAN ANTARA PARTISIPASI PENGANGGARAN DAN KINERJA MANAJER DI INDONESIA Supriyono, R.A. Supriyono
Journal of Indonesian Economy and Business Vol 19, No 3 (2004): July
Publisher : Journal of Indonesian Economy and Business

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Abstract

This study explores the linkages budget participation and managers performance inIndonesia. In the theoretical model budget participation affects totally to managersperformance and this affects can directly or indirectly via two intervening variable: budgetadequacy and organizational commitment. To test the relationship, a survey questionnairewas administered to managers of going public corporation in Bursa Efek Jakarta (BEJ).Results of path analysis support the hypothesized relationships.Keywords: budget participation, manager performance, budget adequacy, organizationalcommitment
THE DILUTION EFFECT OF ACCOUNTING INFORMATION1 Hartono, Jogiyanto
Journal of Indonesian Economy and Business Vol 18, No 4 (2003): October
Publisher : Journal of Indonesian Economy and Business

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Abstract

Riset ini meneliti efek gabungan antara kejutan-kejutan dividen dan laba. Dengan menggunakan belief-adjustment theory yang dikenalkan oleh Hogarth and Einhorn’s (1992), riset ini menguji perilaku dari reaksi investor terhadap waktu (timing) dari pengumuman-pengumuman dividen dan laba. Teori ini memprediksi bahwa untuk kejutan-kejutan konsisten yang terjadi pada waktu bersamaan, mereka mempunyai pengaruh yang lebih kecil di return saham dibandingkan dengan kejutan-kejutan konsisten yang terjadi secara berurutan (hipotesis ini disebut dengan hipotesis efek dilusi atau the dilution effect hypothesis).Hipotesis-hipotesis efek dilusi ini didukung di satu dari empat skenario yaitu terjadi pada waktu kejutan-kejutan laba positip. Hipotesis-hipotesis ini tidak didukung untuk kejutan-kejutan dividen negatip, kejutan-kejutan dividen positip dan kejutan-kejutan laba negatip.Key words: the dilution effect, belief adjustment theory, belief revision, Hogarth and Einhorn, behavioral finance, behavioral accounting, behavioral market research, contemporaneous announcements, simultaneous announcements, joint announcements, noncontemporaneous announcements, sequential announcements, mixed evidence, consistent evidence.
APPLICATION OF DELPHI METHOD IN PRIORITIZATION OF CRITICAL SUCCESS FACTORS OF TQM FOR THE INDONESIA’S OIL AND GAS INDUSTRY Ciptono, Wakhid Slamet
Journal of Indonesian Economy and Business Vol 20, No 3 (2005): July
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Abstract

The study describes the use of the policy Delphi method in building consensus for theprioritization of critical success factors of TQM (CSFs of TQM). The use of multi attributedecision analysis for supporting the qualitative data analysis (multifactor evaluationprocess, analytic hierarchy process, and NVivo) has been considered the foremosttechnique for examining the manages needs and the weightings of preferences from thepanel of managers for each CSFs of TQM in the most objective way available. Two roundof Delphi surveys were conducted. A significant consensus on the weighted evaluation ofthe six CSFs of TQM and the consistency ratio were obtained from twenty managers. Theresults vividly reveal that the Delphi method is a powerful and appropriate technique forderiving objective opinions in a rather subjective area such as the multi-attribute model for the prioritization of the CSFs of TQM.The results of qualitative data analysis (using MFEP) indicate that training to improveproducts/services provides the first priority (the weighted evaluation 0.184; 0.224; and0.169 for top level managers, middle kevel managers, and low level managers); followed by Quality Improvement, Top Management Commitment, Supplier Involvement, Cross-Functional Relationships among SBUs, and Supervisory Leadership.In addition, the qualitative data analysis (using AHP) also provides a set of sufficientlyconsistent CSFs of TQM was obtain after the second round of Delphi questionnaire. Theresult of consistency ratio (CR) shows that the managers had highly satisfactory inassessing the prioritization of CSFs of TQM (CR = 0.0456). Therefore, these CSFs of TQMwere supported the results from the quantitative data analysis.Oil and gas managers in Indonesia can use these qualitative data results in concertwith other critical quality management practices to help them in there word-class company initiatives. The researcher recommended the use of Delphi method as an objective and rigorous determining consensus. Researchers can also use this method to combine qualitative and quantitative research approaches into mixed methodology or triangulation.Keywords: Delphi Method, Qualitative Data Analysis, Critical Success Factors of TQM,Multifactor Evaluation Process, Analytic Hierarchy Process, and NVivo.
GERAKAN SENDAWAR MAKMUR DI KABUPATEN KUTAI BARAT: HIDUP DAN BEREKONOMI TANPA PEMERINTAH Hamid, Edy Suandi; Prapti, Endang Sih; Hudiyanto, Hudiyanto; Mubyarto, Mubyarto; Indroyono, Puthut
Journal of Indonesian Economy and Business Vol 18, No 3 (2003): July
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Abstract

The development of ekonomi rakyat in an isolated kampung, kecamatan, or kabupaten is becoming very important in the era of regional autonomy. One of this kabupaten is West Kutai in the Province of East Kalimantan. The size of the kabupaten is 31,629 km2 (as large as the size of Central Java Province) but the population is only 144.000 people (while Central Java’s is 35 million people) with the population density of only 4.5/km2. It is clear that it needs “more” population to exploit the rich natural resources. The 48% poverty is alarming to all concerned and the Bupati is doing everything possible to reduce poverty “as soon as possible” by introducing a mass movement called “Gerakan Sendawar Makmur” (Prosperous Sendawar Movement).Keywords: autonomy, participation, poverty alleviation, cultural economics.
MANAGING SPILLOVER OF CONTROL IN ALLIANCES BETWEEN COMPETING FIRMS Wahyuni, Sari; Lee, Yoong Hon
Journal of Indonesian Economy and Business Vol 22, No 3 (2007): July
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Abstract

Bagaikan buah simalakama, stratejik aliansi sesama industri (aliansi horizontal)selalu mengalami dilema antara bekerja sama dan berkompetensi. Di samping itu,mereka menghadapi risiko bahwa core competence mereka nantinya dapat terserap olehpartner aliansi yang notabene kompetitor mereka juga. Untuk itu perusahaan perlumelakukan “black box protection”. Dengan melakukan kualitatif studi antaraperusahaan Belanda dan Amerika, paper ini mengetengahkan sebuah framework yangakan sangat membantu para manajer aliansi dalam mengelola “black box protection”mereka. Penelitian ini menemukan bahwa ada tiga variabel penentu yang bisa dijadikantolok ukur kapan kita harus membagi dan melindungi core competence kita: tipepengetahuan; hubungan dengan kompetitor; dan kecepatan perubahan teknologi.Kata kunci: spillover of control, Trojan Horse, black box protection, control, core competence

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