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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
THE EFFECT OF MANAGERIAL ORIENTATION ON SALESPERSONS’ JOB SATISFACTION Purwanto, BM.
Journal of Indonesian Economy and Business Vol 18, No 4 (2003): October
Publisher : Journal of Indonesian Economy and Business

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Abstract

Studi ini mengungkap efek orientasi manajerial terhadap kepuasan kerja tenaga penjual. Kepuasan kerja merupakan konstruk yang sangat penting bagi manajer karena memiliki efek yang signifikan terhadap perilaku dan kinerja tenaga penjual. Responden adalah tenaga penjual jasa asuransi jiwa dari 12 perusahaan asuransi jiwa yang beroperasi di Indonesia. Data dikumpulkan dengan menggunakan kuesioner. Two-step approach to SEM digunakan untuk menguji model hubungan struktural antara konstruk-konstruk yang mencerminkan orientasi manajerial (komitmen manajemen terhadap kualitas layanan, pemberdayaan, evaluasi berdasar perilaku, dan evaluasi berdasar hasil) dan kepuasan kerja. Hasil pengujian menunjukkan bahwa komitmen manajemen terhadap kualitas layanan akan mendorong manajemen untuk memberdayakan tenaga penjualnya. Manajemen yang berupaya memberdayakan tenaga penjual cenderung menggunakan sistem evaluasi berdasar perilaku dari pada menggunakan sistem evaluasi berdasar hasil. Evaluasi berdasar perilaku berefek positif terhadap kepuasan kerja, sedangkan evaluasi berdasar hasil cenderung berefek negatif terhadap kepuasan kerja tenaga penjual.Keywords: salesperson, management commitment to service quality, empowerment, behavior-based evaluation, outcome-based evaluation, job satisfaction, two-step approach to SEM.
NILAI EKONOMI KONSERVASI SAUJANA BUDAYA KAWASAN BOROBUDUR Sebuah Eksperimen Pilihan Soeroso, Amiluhur
Journal of Indonesian Economy and Business Vol 22, No 3 (2007): July
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Abstract

The values of Borobudur cultural landscape has conferred important meaningsin many aspects for those who live in its surrounding area. However, its culturallandscape (natural and cultural horizon) is constantly facing of degrading quality whichaffecting the future existence of Borobudur’s site.This research aims to explore and monetarily quantify the benefit of Borobudurcultural landscape to support the conservation efforts using choice experimentframework. Data were obtained from sample visitors and structured questionnaire arechosen for assessment of economic benefit using choice experiment, an “expressedpreferences” method to assess the total economic benefit of conservation zone.The results indicate that the total economic benefit of Borobudur area is veryhigh. Consequently, the public loss, which is caused by poor management policy, will bevery high in financial term. Therefore, the survival of Borobudur’s site in the future willfully depends on its sustainable development policy.Keywords: Borobudur, saujana budaya, nilai ekonomi, sustainable development.
PENGALAMAN ORGANISASI, EVALUASI TERHADAP KINERJA DAN HASIL KARIR PADA KANTOR AKUNTAN PUBLIK: PENGUJIAN PENGARUH GENDER Kuntari, Yeni; Kusuma, Indra Wijaya
Journal of Indonesian Economy and Business Vol 16, No 1 (2001): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

During the last few years, there has been an increase in the number of women working in the field of accounting, specifically working as a public accountant. As a consequence, there has been an increasing gender issue in career opportunity, pro-fession accountability, performance evaluation, conpensation, and career promotion. Having the interesting development of the gender issue, this research has two objectives. Firstly, this research will observe the effect of gender difference to the organizational experience, performance evaluation, and career outcomes in accounting firm. Secondly, this research will observe the relationship between variable of organizational experience and variable of performance evaluation, and also relation-ship between variable of performance evaluation and the variable of career outcomes. The samples of this research are auditors and supervisors working in major accounting firm. The test of hypothesis will use Analysis of variance and correlation. The result of the research shows that in term of organizational experience, performance evaluation and career outcomes, there is no significant difference between male auditor and female auditor. The research test indicates that there is a positive correlation between variable of organizational experience and variable of performance evaluation, and also between variabel of performance evaluation and variable of career outcomes.Keywords: gender, kepuasan kerja, akuntan publik, pengalaman organisasi, hasil karir.
KONTRIBUSI INVOLVEMENT DAN TRUST IN A BRAND DALAM MEMBANGUN LOYALITAS PELANGGAN Darsono, Licen Indahwati; Dharmmesta, Basu Swastha
Journal of Indonesian Economy and Business Vol 20, No 3 (2005): July
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Abstract

Customer loyalty is the most valuable asset for the company. Many researchs found thatcustomer loyalty had a positive effect on company’s profitability. The purpose of thisresearch is to investigate involvement and trust in a brand (as cognitive and conativeantecedent of loyalty) contribution to building loyalty. The object of this research is facialwhitening product, and the subjects are women. Survey has been done in two centrallocations in Yogyakarta.This research found that involvement and trust in a brand has a positive effect onrelative attitude as attitudinal dimension of loyalty, relative attitude has a positive effect on repeat patronage as behavioral dimension of loyalty. This research also found a strongsupport about relative attitude’s role as a mediator of involvement-repeat patronagerelationships and trust in a brand-repeat patronage relationships. Therefore, involvementand trust in a brand are mediated by relative attitude to contribute to bulding loyalty.Key words: involvement, trust in a brand, relative attitude, repeat patronage
INTERNAL CASH FLOWS, INSIDER OWNERSHIP, INVESTMENT OPPORTUNITY, DAN CAPITAL EXPENDITURES: SUATU PENGUJIAN TERHADAP HIPOTESIS PECKING ORDER DAN MANAGERIAL Hamidi, Masyhuri
Journal of Indonesian Economy and Business Vol 18, No 3 (2003): July
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Abstract

The objectives of this study are to observe the impact of internal cash flows, insider ownership, and investment opportunity on the capital expenditure in two different theories. Those theories are: (1) the pecking order hypothesis and (2) the managerial hypothesis, tested in Indonesian case.On the one hand, the pecking order hypothesis postulates that managers can choose the level of capital expenditure to maximize the wealth of current shareholders without considering insider ownership in the company. On the other hand, according to the managerial hypothesis, managers whose ownership proportions are small tend to use higher level of internal cash flows to finance the capital expenditure than that which would maximize the wealth of current shareholders.This study is predicated on Griner and Gordon’s study (1995) and focused on manufacturing companies listed in BEJ. The data used in this study are taken from the period of 1993-1996. There are 64 companies chosen based on purposive sampling.The result of this study shows that the internal cash flows and the investment opportunity have positive and significant impact on the capital expenditures. However, the impact of insider ownerships on the capital expenditures is not significant. Eventually, this study substantiates the pecking order hypothesis.Keywords: Pecking Order Hypothesis, Managerial Hypothesis, Internal Cash Flows, Insider Ownership, Investment Opportunity, Capital Expenditures
ANALISIS PENGARUH HARI PERDAGANGAN TERHADAP RETURN SAHAM: PENGUJIAN WEEK-FOUR EFFECT DAN ROGALSKI EFFECT DI BURSA EFEK JAKARTA Cahyaningdyah, Dwi
Journal of Indonesian Economy and Business Vol 20, No 2 (2005): April
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Abstract

The paper investigates the day of the week effect in Jakarta Stock Exchange by using 73active stocks during 2001-2003 period. The findings indicate that there is a day of the week effect in JSX. The highest and the lowest return are observed on Friday and Monday,respectively. Analysis of week-four effect in JSX find this phenomenon does not exist inJakarta Stock Exchange. This study shows that Monday effect occurs not only in the lasttwo weeks (fourth and fifth weeks) but also in the first three weeks.Investigation about relationship between Monday effect and Friday’s return indicatesthat the negative mean return observed on Monday is not only the consequence of negative return occurring in earlier trading session. Futhermore, non-negative return on Friday also contributes to Monday effect. Further investigation shows that Rogalski effect presents in April. Finally, the study shows the Monday’s return is only positive in April.Key words : Monday effect, week-four effect, Rogalski effect.
ANALYSIS OF MARKET TIMING TOWARD LEVERAGE OF NON-FINANCIAL COMPANIES IN INDONESIA Wulandari, Vera Pipin; Setiawan, Kusdhianto
Journal of Indonesian Economy and Business Vol 30, No 1 (2015): January
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Abstract

ABSTRACTThis study aimed to examine the effect of market timing on leverage on non-financial compa-nies in Indonesia. Market timing was tested on the hot and cold market conditions. Hot and cold markets are determined by the monthly market to book ratio. A hot (cold) market occurs when the average market to book ratio of a particular month is above (below) the value of the moving average of the monthly market to book ratio. This study also aimed to test whether non-financial companies in Indonesia persistently applied leverage policies. This study used two research models. The first model was a panel data with a sample size of 77 non-financial companies listed on the Indonesian Stock Exchange from 2002-2013.The second model was a cross section data with a sample size of 157 non-financial companies that conducted their IPO in Indonesia from 2003-2013. The dependent variable in both the research models was leveraget (levt). The independent variables were markett and leveraget-1 (levt–1). The control variables were profitabi-lityt-1 (proft-1); and sizet-1. The results of this study indicated that market timing affected the lev-erage of non-financial companies listed on the Indonesian Stock Exchange. However, market timing did not affect the leverage of non-financial companies that had their IPO in Indonesia. The non-financial companies in Indonesia were not persistently applying a leverage policy. The capital structure of non-financial companies in Indonesia changed because of the influence of variable profitability and size (which supports the pecking order and trade off theory).Keywords: market timing theory, leverage, hot and cold market, market to book ratio
PARTIAL LEAST SQUARES: ANOTHER METHOD OF STRUCTURAL EQUATION MODELING ANALYSIS Achjari, Didi
Journal of Indonesian Economy and Business Vol 19, No 3 (2004): July
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Abstract

Structural Equation Modeling (SEM) adalah salah satu cara analisis data multivariatyang popular di kalangan peneliti di bidang bisnis, seperti akuntansi dan sistem informasi.Para peneliti sebelumnya telah mengenal SEM berbasis kovarian seperti yang digunakandalam LISREL dan AMOS. Sebenarnya masih ada lagi jenis SEM yaitu yang dikenalsebagai Partial Least Squares (PLS). Jenis ini menawarkan alternatif terhadap SEMberbasis kovarian yang persyaratan penggunaannya cenderung lebih banyak dan rumit.Paper ini bertujuan untuk memberikan pemahaman mengenai Partial Least Squares.Berbagai aspek PLS seperti manfaat, keterbatasan, persyaratan penggunaan termasukprosedur evaluasi modelnya juga dibahas.Keywords: Structural Equation Modeling (SEM), LISREL, Partial Least Squares (PLS),Research Methodology, Reflective and Formative Indicators
DAMPAK TRAGEDI BOM DI LEGIAN KUTA TERHADAP PERAN SEKTOR PARIWISATA DALAM PRODUK DOMESTIK REGIONAL BRUTO (PDRB) BALI Erawan, I Nyoman
Journal of Indonesian Economy and Business Vol 18, No 2 (2003): April
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Abstract

This paper aim to measure the negative impact of The Bombing Tragedy for the role of the tourism sector in Bali’s Gross Domestic Regional Product (GDRP), and to study the impact for the various sub sectors which support tourism in Bali. As tourism is the key sector for the economic development of Bali, the tragic event of The Legian Kuta Bombing is considered to have a strong negative impact for the economy of Bali.The use of the Input-Output Analysis confirmed that the bombing tragedy had reduced the role of tourism in GDRP of Bali from 59.95 percent in the year 2000 to just 47.42 percent in 2002. Economic sectors which strongly received the negative impact are: Trade sector, Hotels and Restaurants, Transportation and Communication, Manufacturing, and Agriculture, Animal Husbandry, Forestry, and Fishery.Consequently, it is the responsibility of The Local Government of Bali, together with the Central Government of Indonesia, to revive the image of Indonesia and Bali particularly as a save destination for the tourist.In the intermediate and longer term, the sectoral development strategies of Bali have to be redefined to accomodate the rapid changes that occur, which suggest the implementation of the study of Sustainable Community Tourism Development in Bali.Keywords: Tourism, Tourism Income Multiplier Effect, Input-Output Analysis, GDRP, SCTD.
WILLIAMSON MODEL: AN APPLICATION OF INSTITUTIONAL TRANSFORMATION IN THE INDONESIAN DGT Jaya, Wihana Kirana; Rahajeng, Anggi; Bastian, Indra
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
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Abstract

A reform of tax administration in Indonesia has been carried out in several stages from 1983to 2009. However, the changes are limited to the tax system of the DGT, it being the tax governingbody in Indonesia, which has still has not managed to meet the tax revenue target (reflectedthrough a tax ratio). A lack of authority caused the DGT (DGT) to face some difficulties inreaching the target and demonstrating the expected performance. The goal of this paper is tostress the needs of institutional transformation in DGT. By using the Williamson Model, thisstudy focuses on evaluating the DGT institutionally and creating an alternative institutionaltransformation of the DGT. The international and domestic results of ascertaining bestpractices conclude that the DGT needs to change gradually, not with a ‘big bang’, and byproviding the more flexible authority by remaining in the structure of Traditional Departmentor Single Directorate in the Ministry of Finance (SDMOF) which would lead to an organizationstructure which is semi-autonomous or a Unified Semi-autonomous Body (USB) that covers allthe systems of taxation such as service, assurance, law enforcement and supporting roles.Keywords: tax governing body, Indonesian DGT (DGT), institutional transformation, williamson model

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