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Wuri Handayani, Ph.D.
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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
PENDEKATAN KOREKSI KESALAHAN DALAM PERSAMAAN SIMULTAN STUDI KASUS: PENDAPATAN DAN PENAWARAN UANG DI INDONESIA Pasaribu, Syamsul Hidayat; Saleh, Samsubar
Journal of Indonesian Economy and Business Vol 16, No 1 (2001): January
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Abstract

This paper attempts to introduce and apply the error correction method to estimate the simultanous-equation models and compares its results with the similar method in the case of single equation model.The empirical results show that the estimations in the case of simultanous-equation models have the similar conclusions with the case of single equation models since the fitted values of dependent variables in the reduced-form estimations are relatively close to its actual values. On the other hand, they will be quite diffrence if the fitted values of dependent variables in the reduced-form estimations quite differ from its actual values.The results show that short-run changes in money supply (M) and investment (I) have significant and positive effects on income (Y) while government expenditure (G) is insignificant and that about 0,9151% of the discrepancy between the actual and the long-run, or equilibrium, value of Y is corrected each year by the single equation assumption and 0,8706% by the simultanous-equation assumption.The results also show that short-run changes in income (Y) have significant and positive effects while interest rate (R) is insignificant on money supply (M) and that about 0,2327% of the discrepancy between the actual and the long-run, or equilibrium, value of M is corrected each year by the single equation assumption and 0,2346% by the simultanous-equation assumption.Keywords: ordinary least square, two stages least square, error correction method.
PERKEMBANGAN EKONOMI REGIONAL DAERAH ISTIMEWA YOGYAKARTA TRIWULAN IV-2004 Sumartono, Djarot; A.W., Herdiana; Moesa, Ameriza M.; Jatna, Mardianto
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
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Abstract

Economic performance of Yogyakarta Province in the fourth quarter of 2004 (QIV-2004) tended to decrease slightly, as reflected by negative growth of Gross DomesticRegional Product (GDRP) of -6.92%, in line with the initial forecast. The negative growthof the regional economy was mainly attributable to the developments of three economicsectors during QIV-2004, these are (i) Agriculture sector, (ii) Finance, Ownership, andBusiness Service sector, (iii) Services sector. Based on GDRP negative growth ofYogyakarta Province in the past three quarters, it is predictable that the economy in theyear 2004 could be able to grow at estimated rate 4,88%, which is higher than previousyear economic growth. On the other hand, overall inflationary pressure in Yogyakarta Cityrose, indicated by quarterly inflation of Consumer Price Index (CPI) of QIV-2004 was2.66% (quarter to quarter) and cumulative CPI inflation through December 2004 was6.95% (year to date), higher than National CPI inflation (6.40%). The inflationary pressure particularly during QIV-2004 was driven by increased domestic demand due to a seasonal factor of religious events i.e. Idul Fitri, Christmas Eve and New Year Eve. Meanwhile, in general banking performance consisting of commercial & rural banks during QIV-2004 was relatively stable, despite of slightly decreased banks’ asset and deposits as of November 2004 which is recorded 1.00% and 1.35% respectively. In contrast, total credits grew from Rp4,699 billions (Sept’04) to Rp5,013 billions (Nov’04) as well as NonPerforming Loans Ratio somewhat declined from 2.50% to 2.45.%.Keywords : economic growth, CPI inflation and banking performance.
COMPETENCY, ENTREPRENEUR CHARACTERISTIC AND BUSINESS PERFORMANCE: STUDY OF THE PEMPEK BUSINESS IN PALEMBANG Soejono, Fransiska; Mendari, Anastasia Sri; Rinamurti, Micheline
Journal of Indonesian Economy and Business Vol 30, No 1 (2015): January
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Abstract

The purpose of this study was to examine empirically the effects of entrepreneurial compe-tencies and characteristics on business performance. Previous studies found that competencies and entrepreneurial characteristics significantly influenced business performance. A quantita-tive method was used and 122 respondents were involved as the sample in this study, who were pempek business owners in Palembang, South Sumatra. The results indicated an effect from entrepreneurial competencies on business performance. It was also found that the entrepre-neurs’ characteristics (owners’ ages) significantly affected the businesses’ performance. This implication requires some sort of course or program for the entrepreneurs to improve their competence to direct the owners to gain better business performance. The growing age of the business owners requires equal insights to ensure age does not stop the owners from improving their business’ performance.Keywords: competency, characteristics, performance, age, entrepreneur
INEQUALITY OF DISTRIBUTION AND POVERTY INCIDENCE IN THE ADJUSTMENT PERIOD AND ANALYSIS OF ECONOMIC CRISIS IMPACT IN INDONESIA Wahyuni, Heni
Journal of Indonesian Economy and Business Vol 19, No 3 (2004): July
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Abstract

Artikel ini menganalisis faktor-faktor yang mempengaruhi ketimpangan distribusipendapatan di Indonesia selama awal pembangunan (adjustment period) dan sebagaidampak krisis ekonomi menggunakan unbalanced panel method untuk 26 propinsi diIndonesia (tidak termasuk Timor Timur, Bangka Belitung, Banten, dan Gorontalo) untukperiode 1980-2002.Selama periode awal pembangunan (adjustment period), meskipun kemiskinan diIndonesia mengalami penurunan yang signifikan, namun ketimpangan distribusi cenderung konstan. Lebih jauh, isu ini menghangat sejak Indonesia mengalami keterpurukan akibat krisis ekonomi tahun 1997-1998.Studi empiris ini memberikan hasil bahwa semua variabel sosial ekonomi, yaituexpenditure per capita, school enrolment, poor people, average household size, populationdensity, dan revenue per capita, dan variabel yang menunjukkan krisis ekonomi signifikanmempengaruhi ketimpangan distribusi di Indonesia. Permasalahannya kemudian bukansaja ketimpangan distribusi, namun juga munculnya isu disintegrasi yang semakin marak.Oleh karena itu dalam artikel ini direkomendasikan bahwa kebijakan pemerintahseharusnya difokuskan kepada variabel kebijakan yang signifikan mempengaruhiketimpangan distribusi di Indonesia termasuk di dalamnya implementasi desentralisasiyang masih merupakan tantangan besar dalam menjawab isu disintegrasi.Kata kunci: Inequality, poverty, economic crises, adjusment period
ANALISIS PERTUMBUHAN ENDOGEN: DAMPAK LIBERALISASI PERDAGANGAN DI SEKTOR INDUSTRI MANUFAKTUR INDONESIA, 1979-1997 Arief, M. Irsan; Sugiyanto, Catur
Journal of Indonesian Economy and Business Vol 18, No 2 (2003): April
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Abstract

Trade liberalization in recent years has been part of important world agenda in anattempt to create an unlimited relationship. The endogenous growth literature provides persuasive support that stresses the importance of international trade levels for economic growth. This research uses endogenous growth approach to analyze the effect of international trade on manufacturing industry sector of Indonesia, and importantly to find out the impact in relation to trade liberalization in 1985.The panel data is used and the trade deregulation policy is captured by using dummy variable. A piecewise linear regression model is applied. Observation covers 26 manufacturing sectors between 1979 and 1997.In general, the results show that trade variables used to measure productivity growth rate have small effect on output growth. There is also a positive effect of export growth in one year time lag on productivity but it lesser than that of the imported input growth. We confirm that trade deregulation in 1985 contribute to the increase in productivity of the manufacturing sectors, especially the export oriented firms. Nevertheless, the relatively smaller effect of trade variables than production variables can be a sign of low productivity rate in international trade that is expected to lead the growth of Indonesian manufacturingindustry.Keywords: Trade liberalization, productivity, growth, Indonesian manufacturing industry.
STUDENT PERCEPTION ON BUSINESS ETHICS Suwardi, Eko; Artiningsih, Arika; Novmawan, M. Ridwan
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
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Many research conducted on the behavior of business persons and their perception on businessethics. However, rarely similar study deals with the perception of students on businessethics. Indeed, students are our future generation who are going to have substantial role inIndonesian business and economy. Therefore this study focuses on students as a proxy for futurebusiness players in this country (Trawick and Draden, 1980). We compare among groups ofstudents based on their maturity, formal business ethic education, gender and specific professionalbackgrounds. The results of analysis show that in general students have good perceptionon business ethics. Further, there is a significant different perception on business ethics amongstudents with different academic maturity, professional background. Student with businessbackground are less ethical compare to those are with non-business background. This may consistentwith previous evidence found that ethical principles need to be introduced more tobusiness students. In contrast, there is no different perception on business ethics among studentwith different gender groups and formal business ethics course. This could be business ethicsformal education takes time to be internalized by participants or student with no formalbusiness ethics course also learn business ethics from other sources.Keywords: students, perceptions, business ethics
ANALISIS KENDALA-KENDALA POTENSIAL PENERAPAN TOTAL QUALITY SERVICE PADA PERGURUAN TINGGI Purnama, Nursya’bani
Journal of Indonesian Economy and Business Vol 17, No 2 (2002): April
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Abstract

The succes of Higher Educational Institution in competing is highly depends on how the institution gives the satisfaction to customers through the creation of quality service. Many corporations have got their success because they are able to apply quality management principles. Total Quality Service (TQS) is a service quality management that can be used as strategic tools for Higher Educational Institution in the effort to get sustainable service quality improvement. In order to apply the TQS successfully, a Higher Educational Institution must be able to identify existing constraints.This research is intended to find potential constraints on the application of TQS and it was conducted in the Private University, School of Business, and Academy of Management/Accounting in Yogyakarta. This research is also to test the differences of potential constraints on the application of TQS among the Higher Education, that is Private University, School of Business, and Academy of Management/Accounting. Instruments used in this research are the same as the research instruments used by the previous research conducted by Ngai and Cheng (1999). The respondents of this research are faculties who have structural position in the Faculty of Economics in Private University, School of Business, and Academy of Management/Accounting.This research findings show that, in general, the potential constaints on the application of TQS in the Higher Education are cultural and employee factor, infrastructural factor, and organizational factor. Other findings also show that infrastructural factor is the main constraint, and is followed by cultural and employee factor, and organizational factor. By using a hypothetical testing with 95% confidence level, the conclusions of the findings are follow: there are no significant differences of the potential constraints on the application of TQS in the higher education; there are no significant differences of the potential constraint on the application of TQS between Private University and School of Business; and there are significant differences of the potential constraint on the application of TQS between Private University and Academy of Management/Accounting, and School of Business with Academy of Management/ Accounting.Keywords: potential constraints, Total Quality Service, service quality, customer
HUBUNGAN ANTARA PERTUMBUHAN INDUSTRI, PERDAGANGAN INTERNASIONAL TERHADAP KONSENTRASI INDUSTRI DAN PERTUMBUHAN EKONOMI DI JAWA TIMUR Santosa, Bambang Heru
Journal of Indonesian Economy and Business Vol 21, No 3 (2006): July
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Abstract

Objectives of the study is to analyze causal relationships among five variables. Thefirst three, development of industry influenced to the development of economy (economicgrowth), to concentration of industry, and to welfare. Second, concentration of industrypushed the economic growth. The third three, the international trade influenced toconcentration of industry, to economic growth, and to welfare. Finally, the impact ofeconomic growth to welfare.This analysis using structural equation modeling (SEM) and found that five of eightrelationships were significant and the rest were insignificant. First, development ofindustry negatively influenced concentration of industry. Second, international tradepushed concentration of industry. Third, concentration of industry also pushed economicgrowth. Fourth, international trade positively influenced economic growth. Finally, theeconomic growth positively influenced welfare. The development of industry wasinsignificant influence to the economic growth, and positively influenced to welfare. It isnegativite relation was caused by dispersion of the location of industry, so resulted loweconomies of scale. International trade was negatively influenced welfare.Policy implication obtained from the whole analyses, especially for the East JavaProvincial Government. In order to improve performance of the economy, it is suggestedemploying the Integrated Territory-provincial Planning based on comparative advantageamong regions.Keywords: industry; manufacturing; concentration; cultural regions; structural; Interdependency; territorial; integrated.
PENGARUH STRUKTUR KEPEMILIKAN, PERILAKU MANAJEMEN LABA, FREE CASH FLOW HYPHOTESIS DAN ECONOMIC VALUE ADDED: PENDEKATAN PATH ANALYSIS1 Wilopo, Wilopo; Mayangsari, Sekar
Journal of Indonesian Economy and Business Vol 17, No 4 (2002): October
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This paper investigates whether ownership structures, earnings management, growth opportunities, free cash flow hyphotesis are related to firm performance, as measured by economic value added. This paper use sample nonregulated companies during crisis period, 1998-2001. We find that during this period the management creates value. Our result also suggest that blockholders and free cash flow hyphotesis have indirect effects to economic value added through corporation policy, such as investing and financing. Interestingly, earnings management have direct effect to economic value added. These results imply that separation of management group ownership and control has significantly more negative relation to creating value in countries with low shareholders protection, as in emerging markets, whereas large blockholders have significantly more positive relation.Keywords: Ownership Structures, Earnings Management, Free Cash Flow Hyphotesis, Economic Value Added
THE ROLE OF COMPENSATION IN PROJECT’S MANAGER EVALUATION OF TERMINATING AN UNPROFITABLE PROJECT Kusuma, Indra Wijaya
Journal of Indonesian Economy and Business Vol 19, No 1 (2004): January
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Teori agensi mengindikasikan bahwa manajer proyek yang mempunyai informasi privatdan insentif untuk melakukan shirking akan melakukan tindakan yang disfungsional berupa meneruskan proyek yang diketahui tidak menguntungkan. Isu ini harus diteliti secara luas dengan setting/skenario dan sampel yang berbeda. Tujuan penelitian ini adalah untuk menguji perilaku shirking dari manajer proyek ketika mereka harus menghentikan proyek yang tidak menguntungkan. Tujuan berikutnya adalah untuk menguji peran konpensasi untuk mencegah perilaku shirking.Penelitian ini menggunakan metoda eksperimental dengan memanipulasi dua kondisiyaitu informasi privat dan insentif untuk melakukan shirking. Partisipan dalam eksperimen ini adalah 138 mahasiswa kelas eksekutif program Magister Manajemen Universitas Gadjah Mada. Hasil penelitian tidak mendukung perilaku yang diprediksi oleh Harrell dan Harrison (1994). Manajer yang mempunyai informasi privat dan insentif untuk shirking menghentikan proyek yang tidak menguntungkan (walaupun terdapat kecenderungan namun tidak signifikan secara statistis).Bertentangan dengan harapan, penelitian ini juga menemukan bahwa kompensasi(bonus dan pinalti) meningkatkan kecenderungan manajer untuk melanjutkan tindakanyang disfungsional ini. Selanjutnya, penelitian ini menunjukkan bahwa mahasiswa wanita, usia muda, kurang berpengalaman, mempunyai latar belakang pendidikan bisnis pada level strata satu, dan belum menikah mempunyai kecenderungan untuk melanjutkan proyek yang tidak menguntungkan. Hasil yang demikian mungkin disebabkan oleh faktor risiko yang mempengaruhi perilaku mereka.Penelitian selanjutnya harus dilakukan untuk memeriksa ketidakkonsistenan dalamisu ini dengan mempertimbangkan beberapa kelemahan. Penggunaan sampel yang berupa manajer akan memberikan hasil yang lebih kuat daripada menggunakan proksi mahasiswa eksekutif magister manajemen. Penggunaan skenario lain (terutama skema konpensasi yang berbeda) untuk menguji isu ini juga diperlukan. Penelitian selanjutnya juga perlu mempertimbangkan faktor preferensi terhadap risiko dan locus of control. Seseorang yang mempunyai locus pegawasan internal akan cenderung untuk melanjutkan proyek yang tidak menguntungkan karena ia merasa mampu untuk mengubah keadaan.Kata kunci: Masalah agensi, asimetri informasi, insentif untuk shirking, penghentianproyek yang tidak menguntungkan

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