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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 IMPACT OF THE IMPULSE BUYING DIMENSION AND CHERRY PICKING: AN EMPIRICAL STUDY (Consumers Case Study in a mall in Central Jakarta) Endang Ruswanti
Journal of Indonesian Economy and Business (JIEB) Vol 31, No 1 (2016): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (537.891 KB) | DOI: 10.22146/jieb.10321

Abstract

The purpose of this research is to further test the contradictory research result. Mathai & Haridas’ findings (2014) stated that a discounted price did not influence impulse buying. Meanwhile Ruswanti, (2013) found that a discounted price tended to influence the consumers’ spontaneous shopping. Data discovered by Nielsen (2007) stated that apparently 85% of Indonesian consumers tend to buy things on an impulse. This research was in the form of a survey, the sample being 197 people, of whom 96 respondents were female, and males the other 101. The respondents ages were between 17-50 years old, those with an income of 3 million rupiahs numbered 83 persons, 64 people had an income above 5 millions rupiahs, and 50 respondents had an income above 10 million rupiahs. The technical design was a purposive sampling;70% of the consumers liked the discounted products, and bought something on the spur of the moment at least once. The regression analysis was with SPSS 19; the results show that the external, internal, situational environment, products’ variety, and sociocultural effects significantly influenced the cherry picking. The respondents with an income of above 3-5 million preferred spontaneous shopping. This research gives a contribution to the development of the consumers’ behavioral theory through impulse buying and cherry picking.Keyword: Impulsive Buying Dimension, Cherry Pick, Consumer’s Behavioral, Central Jakarta
HOW DOES CONGESTION MATTER FOR JAKARTA’S CITIZENS? Sonny Harry Budiutomo Harmadi
Journal of Indonesian Economy and Business (JIEB) Vol 30, No 3 (2015): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1866.894 KB) | DOI: 10.22146/jieb.10312

Abstract

Jakarta, as the biggest city in Indonesia, faces many problems, one of which is congestion, that produces a high cost economy. It is predicted that if the government does not take immediate action to solve this problem, there will be a potential loss of IDR65 trillion by 2020 (Bappenas, 2007). This consists of IDR28.1 trillion in operational costs and IDR36.9 trillion in opportunity costs from time lost. This study is aimed at estimating how much Jakarta citizens’ are willing to pay to overcome the congestion problem. By using the stated preference method, the estimation result shows that the annual cost of congestion in Jakarta is estimated at IDR50.2 trillion a year. Furthermore, this result can be used as a baseline for a cost-benefit analysis by the government to generate a better public transportation policy in Jakarta.Keywords: willingness to pay, congestion, stated preference method, conditional logit
THE RELATIONSHIP BETWEEN THE USE OF A PERFORMANCE MEASUREMENT SYSTEM, ORGANIZATIONAL FACTORS, ACCOUNTABILITY, AND THE PERFORMANCE OF PUBLIC SECTOR ORGANIZATIONS Muhammad Ahyaruddin; Rusdi Akbar
Journal of Indonesian Economy and Business (JIEB) Vol 31, No 1 (2016): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (467.966 KB) | DOI: 10.22146/jieb.10317

Abstract

This research studies the accountability and performance of public sector organizations. It provides empirical evidence about the relationship between the use of a performance measurement system and the organizational factors of accountability and organizational performance. We investigate the three roles of a performance measurement system (its operational use, incentive use, and exploratory use), and three organizational factors (contractibility, the legislative mandate, and management commitment). A mixed method approach with squential explanatory design was used to answer the research question. The hyphoteses testing used Structural Equation Modelling-Partial Least Square (SEM-PLS). Our findings were based on survey data from 137 SKPD officers in the local government of Yogyakarta Province, and showed that management commitment had a positive association with accountability and organizational performance. We also found a positive association between the legislative mandate and accountability. However, this research did not find any significant association among the three roles of the performance measurement system with accountability and organizational performance. Based on the institutional theory, our findings show substantial contributions by the institutional isomorphism, which was used in an appropriate manner to explain the context of public sector organizations, especially in the local government of Yogyakarta Province.Keywords: the use of performance measurement system, organizational factors, accountability, mixed method
FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA Sigit Setiawan
Journal of Indonesian Economy and Business (JIEB) Vol 30, No 2 (2015): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (677.427 KB) | DOI: 10.22146/jieb.9962

Abstract

This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relatively better than its financial depth, especially for financial markets, in which Indonesia ranks in the lower average group. From literature reviews, it can be inferred that the main factor driving the poor financial depth in Indonesia is non-competitiveness of the institutions; whereas the driving force of poor financial access in Indonesia are geographical constraints, poverty, a high income gap, and a less than effective national financial development policy.Keywords: financial sector, banking, capital markets, economic planningJEL Codes : E60, F36, F63, G28, O16
EXTENDED THEORY OF PLANNED BEHAVIOR AS MODEL OF ANABOLIC ANDROGENIC STEROID USE BY INDONESIAN BODYBUILDERS Shine Pintor Siolemba Patiro; Basu Swastha Dharmmesta; Sahid Susilo Nugroho; Bayu Sutikno
Journal of Indonesian Economy and Business (JIEB) Vol 31, No 1 (2016): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (494.21 KB) | DOI: 10.22146/jieb.10322

Abstract

This correlational study explored the psychological antecedents of Indonesian bodybuilders’ intentions to use anabolic–androgenic steroids (AAS), based on the Theory of Planned Behavior (TPB). The purpose of this research was to identify factors that influence an Indonesian bodybuilder’s intention to use AAS and offer a better understanding of AAS use behavior based on the extended Theory of Planned Behavior (TPB). The three predictor variables of (1) attitude, (2) subjective norms, and (3) perceived behavioral control accounted for the variation in the outcome measure of the intention to reuse the AAS. Likewise, (1) attitude and (2) intention accounted for of the variation in the outcome measure of the reuse of AAS. This research combined two methods which are qualitative and quantitative. The respondents who were used in this research are professional bodybuilders located in Jakarta, Bandung, Surabaya, and Yogyakarta. The result of this research shows that the attitude of bodybuilders in using AAS tends to have values that are adopted by themselves. The result of this research differs from Bagozzi et al (1989) who stated that attitude influenced behavior directly as a nonpurposeful reaction or indirectly through intention as an aimed response. The result of this research clearly shows that attitude can influence behavior directly as a purposeful reaction, because the bodybuilders consume AAS to achieve a particular purpose and it is strengthened by achievement value in themselves. This research suggests also that attitude and subjective norms are not causally independent. They appear to reflect similar beliefs and to influence each other. These results differ from Titah and Barki (2009), as suggested by Chang (1998) and Aarts et al. (1998), who stated that a person whose positive subjective norms move them toward overt behavior, it will lead to a positive attitude toward the behavior. Future research directions are suggested regarding several areas.Keywords: Theory of Planned Behavior; values; steroid; bodybuilders
ROAD INFRASTRUCTURE AND SPATIAL ECONOMIC DEPENDENCE IN THE WESTERN REGION OF JAVA Siti Herni Rochana; B. Kombaitan; Eka Purwanda
Journal of Indonesian Economy and Business (JIEB) Vol 30, No 3 (2015): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1149.299 KB) | DOI: 10.22146/jieb.10313

Abstract

The western region of the island of Java consists of three provinces, namely: West Java, Banten, and Jakarta, is a region that contributes significantly to the GDP of Indonesia. In 2010 the contribu-tion of the three provinces was 33.94% of the total GDP, and the remaining 66.06% came from the other 30 provinces. In spite of its high contribution, in terms of the value added by the western region of Java, there are inequalities between the regions. In the year 2010, Jakarta’s per capita income was ten times, or more, than that of Lebak. The existence of this problem in the income disparity between the regions in western Java raises questions relating to the spatial economic dependence of the west-ern region of Java. The unit analysis of the research is all the districts/cities in West Java, Banten, and Jakarta. The measurement used for the spatial economic dependence is Moran’s Index. Spatial varia-bles were comprised in the spatial weight matrix (matrix-W), which was formed using three approach-es: based on the distance, the neighbourhood, and the road transportation network. The economic variables in this study are the level of income per capita and economic growth. The results showed spatial economic dependence, based on distance and neighbourhood, tended to be low. Whereas, the spatial economic dependence based on road connectivity, especially freeways, showed a moderate correlation.Keywords: road infrastructure, spatial economic dependence, Moran’s Index, western region of Java.
A TEST OF GRAHAM'S AND LYNCH'S STOCK SCREENING CRITERIA ON SHARES TRADED ON THE INDONESIAN STOCK EXCHANGE (IDX) Dwi Kartikasari
Journal of Indonesian Economy and Business (JIEB) Vol 31, No 1 (2016): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (351.955 KB) | DOI: 10.22146/jieb.10318

Abstract

Benjamin Graham and Peter Lynch listed criteria for screening stocks, which investors could use to identify undervalued stocks that would outperform the market. Numerous tests have been conducted in the United States and other countries, but not yet in Indonesia. Thus, the author aims to test the applicability of Graham’s and Lynch’s formulation on shares traded on the Indonesian Stock Exchange (IDX) by screening stocks that meet the various sets of Graham's and Lynch's criteria and then measuring the performance of the portfolios over the years from 2010 to 2014. The author uses a simple linear regression to measure the performance of the portfolios against the IDX Composite (IHSG). The author discovered that investors who used the combined criteria of Lynch earned positive risk-adjusted returns, of 28.81 percent per year in 2010-2012 and 27.33 percent per year in 2012-2014. While investors who used a combination of two of Graham’s criteria obtained significant risk-adjusted returns of 47.55 percent annually in 2010-2012 and 5.92 percent annually in 2012-2014. However, investors who implemented a combination of three of Graham’s criteria did not earn positive risk-adjusted returns consistently during the research period. The increasingly complex criteria do not improve the performance of the portfolios, because when more criteria are used, less and less stocks can meet the criteria, hence the portfolios become more volatile and investors do not enjoy the benefits from diversification.Keywords: Graham; Lynch; Stocks; the Indonesia Stock Exchange (IDX)JEL Classification: G11, G17
THE POWER OF PRODUCT LEADERSHIP IN GENERATING CUSTOMERS’ INTENTIONS TO BUY: THE CASE OF DAGADU Markus Surkamta Eric Santosa
Journal of Indonesian Economy and Business (JIEB) Vol 30, No 2 (2015): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (309.595 KB) | DOI: 10.22146/jieb.9964

Abstract

Marketing products is frequently not easy. Besides the need for brands and/or products to be recognized by consumers, they must be prominent among the other brands and/or products, which hopefully in turn will develop an interest in them and the intention to buy. The prominent brands and/or products usually become so because they comprise of a number of factors, such as good quality, good design, and good customer value. In addition, the performances of thebrands and/or products really meet the consumers’ expectations, and conform to the consumers perceptions of them. While the consumers’ intentions to buy are generally generated by their attitudes and subjective norms, the purpose of this study is to investigate the influence of product leadership in producing the customers’ intention to buy through the customers’ perception of value and quality. Data were acquired from a sample which consisted of 100 respondents who were interested in and wanted to buy Dagadu T-shirts. The sample itself was withdrawn by using the judgment method. The data were then analyzed using Amos 5.0 and SPSS 16.0. The result showed that product leadership affected consumers’ perception of value and quality, which sequentially generated the consumers’ intention to buy through the consumers’ attitude and subjective norm.Keywords: product leadership, perceived quality, perceived value, intention to buy
FINANCIAL LITERACY AMONG UNIVERSITY STUDENTS: EMPIRICAL EVIDENCE FROM INDONESIA I Wayan Nuka Lantara; Ni Ketut Rai Kartini
Journal of Indonesian Economy and Business (JIEB) Vol 30, No 3 (2015): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (235.507 KB) | DOI: 10.22146/jieb.10314

Abstract

This study investigates the level of financial literacy among undergraduate and graduate students. The study also examines the association between the students’ demographic factors and their financial literacy rate. Data were collected by distributing 800 questionnaires to undergraduate and graduate students of Gadjah Mada University, Indonesia, covering cross educational majors, ages, gender, education levels, marital status, income, and work experience. Out of the sample, a total of 348 respondents returned completed questionnaires, which gave a response rate of 43.5 percent. The findings show that on average 45.39 percent of the respondents answered the questions correctly, which is relatively low compared to what other studies found in other countries, such as Chen and Volpe (1998) in the US (52.87 percent), or Beal and Delpachitra (2003) in Australia (53 percent). It also seems that male students, students with economics and business majors, those with higher incomes, and more work experience have a higher financial literacy rate. Using probit and tobit regression tests, the study revealed that education levels and academic disciplines are positively associated with the financial literacy rate.Keywords: financial information, literacy rate, education, finance, Indonesia
CHALLENGE-STRESS AND HINDRANCE-STRESS IN THE SOUTHEAST ASIAN HOTEL SECTOR Kamaazura Abu Abu; Ahmad Munir Mohd Salleh; Mohd Shaladdin Muda; Azlinzuraini Ahmad; Ruzita Manshor
Journal of Indonesian Economy and Business (JIEB) Vol 30, No 2 (2015): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (203.976 KB) | DOI: 10.22146/jieb.9953

Abstract

The hospitality industry is an entity that is continuously determined by varying new demands and the needs of its customers. This ever-changing and complex working environment has caused and become a source of stress for the hospitality industries’ workforce. Workplace stress is increasing from year to year and has become a focus of research interest in recent years.Responding to the demands of management who require a more precise understanding of the issues of workplace stress, researchers have conducted studies on a total of 115 respondents from a 3 star-hotel and a 4 star-hotel. The personnel involved came from the food and beverage departments, room services and the front offices, whose daily routines involved direct face toface serving activities and fulfilling their customers’ demands. Using the Statistical Package for Social Science (SPSS) version 19.0 and AMOS version 18.0, the results of Exploratory Data Analysis (EFA) and Confirmatory Data Analysis (CFA) have confirmed that there are two stress factors, namely challenge stress and hindrance stress. Both of these stress factors have asignificantly negative relation to one another. Understanding these dimensions in detail can help the hospitality organizations to be well prepared for the task of motivating their employees.Keywords: challenge-stress, hindrance-stress, service, Southeast Asia, hotel

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