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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
IMPACT EVALUATION OF THE SCHOOL OPERATIONAL ASSISTANCE PROGRAM (BOS) USING THE MATCHING METHOD Eny Sulistyaningrum
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 (786.48 KB) | DOI: 10.22146/jieb.10319

Abstract

Investment in human capital, especially in children’s education, is considered to be among the most effective ways for countries to improve their national welfare and reduce poverty in the long term. The Government of Indonesia has promoted human capital investment, especially in children, by designing school subsidy programs. Since 2005, the school operational assistance program (BOS) has been the biggest school subsidy program in Indonesia during the last two decades. This paper evaluates the impact of BOS on children’s test scores at the early stage. This study uses Propensity Score Matching (PSM) to estimate the average treatment effect, in the absence of selection, on unobserved characteristics. The results confirm that BOS can increase student performance. The finding suggests that the Government of Indonesia needs to develop a subsidy program to provide a basic level of education for all students, especially for the poor, as the recent school subsidy program is only sufficient for school fees or even only enough for tuition fees if the students live in urban areas. The remainder of the education expenditures must be covered by the household.Keywords: School Subsidy, BOS, PSM, Test ScoresJEL: H52, I22, I25
DOES ECO-EFFICENCY REDUCE THE COST OF EQUITY CAPITAL? EMPIRICAL EVIDENCE FROM INDONESIA Lisa Alviani; Mahfud Sholihin
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 (176.261 KB) | DOI: 10.22146/jieb.9966

Abstract

The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings suggest that companies should implement ecoefficency.Keywords: cost of equity capital; eco-efficiency; ISO 14001; environmental accounting
HOUSEHOLD EXPENDITURE IN RESPONSE TO NATURAL DISASTERS Eny Sulistyaningrum
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 (717.84 KB) | DOI: 10.22146/jieb.10315

Abstract

Natural disasters have increased in their frequency, and the intensity of their destruction over the last ten years in Indonesia. Households usually respond to these difficulties by cutting their consump-tion, especially for non-essential goods. Arguably natural disasters are exogenous events, so this paper uses the exogenous variation from natural disasters as a natural experiment design to estimate the effect of disasters on household expenditure. When a certain group is exposed to the causal variable of interest, such as a disaster, and other groups are not, the Difference In Difference model (DID) can be used for estimation. Using a micro level survey data set from the Indonesian Family Life Survey (IFLS) which covers approximately 83 percent of the Indonesian population within the survey area, this paper examines the effects of natural disasters on household expenditure. This paper also examines whether there are any different impacts from different types of disasters. The finding is there are no significant effects of disasters on total household expenditure for households living in disaster regions, whether they are affected directly or not by the disaster.Keywords: natural disasters, household expenditure, DID, natural experiment
INFORMATION AND KNOWLEDGE OF PUBLIC SECTOR DECISION MAKERS: EXPERIMENTAL RESEARCH IN THE CONTEXT OF A LOCAL GOVERNMENT HOSPITAL IN INDONESIA Icuk Rangga Bawono; Abdul Halim; Beverley R. Lord
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 (130.479 KB) | DOI: 10.22146/jieb.9956

Abstract

This research aimed to test the previous result of experimental research on decision making by Dilla and Steinbart (2005), and to internalize the result in the context of a local government hospital in Indonesia. The subjects in this experiment were 80 members of the House of Representatives in the Cilacap, Brebes and Purbalingga regions in Indonesia. They were asked to evaluate the performance of a fictitious local government hospital and decide whether or notto increase its budget allocation for the coming year. Half of the subjects were given instruction in the performance measures applicable to hospitals; the other half proceeded straight to the experimental task. The first group were labelled “knowledgeable users”; the latter group were classified as “unknowledgeable”.The results of this experiment using real decision makers showed that the knowledgeable group tended to use the unique information given to them to measure performance and make budget allocation plans, whereas the unknowledgeable group used common measures. These results are consistent with Lipe and Salterio (2000), Dilla and Steinbart (2005) and Bawono etal. (2012), indicating that students may be reliable surrogates for real decision makers.Keywords: accountability, public sector, performance measurement, budget allocation plan, knowledgeable and unknowledgeable, decision makers
ROLE CONFLICT AND ROLE AMBIGUITY ON LOCAL GOVERNMENT INTERNAL AUDITORS: THE DETERMINANT AND IMPACTS Agil Novriansa; Bambang Riyanto
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 (380.759 KB) | DOI: 10.22146/jieb.10320

Abstract

The bureaucratic reform at the local government level in Indonesia that was instituted in 2012 has turned local government internal auditors into an important part of government governance systems. The role of local government internal auditors has been expanded to include not only the area of audit oversight, but also the areas of anti-corruption-related and consulting activities. These fundamental changes may potentially induce role conflict and role ambiguity among internal auditors. The objective of this study is to examine empirically the determinants and consequences of role conflict and role ambiguity among local government internal auditors. More specifically, this study attempts to examine the extent to which formalization determines role conflict and role ambiguity; it further tests the impact of role conflict and role ambiguity on commitment to independence and job performance. Questionnaires were distributed to 248 local government internal auditors from 12 Regional Inspectorates in the provinces of Yogyakarta, South Sumatra, and East Java. A total of 176 responses were received, and 124 useable responses from the 176 responses were analysed to test the hypotheses. Using Structural Equation Modelling-Partial Least Square the results show that: formalization is negatively related to role conflict and role ambiguity; role ambiguity has a negative impact on commitment to independence; role conflict has a positive impact on job performance; and role ambiguity has a negative impact on job performance. These findings serve as important external validity evidence on the phenomena associated with role conflict and role ambiguity that occur in the public sector, especially among internal auditors at local government institutions.Keywords: role conflict, role ambiguity, local government, internal auditors
THE STUDY OF INDONESIA’S READINESS TO COPE WITH DEMOGRAPHIC BONUS: A REVIEW OF POPULATION LAW Edie Toet Hendratno; Rachma Fitriati
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 (2256.803 KB) | DOI: 10.22146/jieb.10311

Abstract

The shift from a population mapping to investigate the population bonus on demographic aspect enhances the economic value this study might contribute for. Indonesian population as the fourth largest number requires some policies to cope with the millennium challenges. Improving nationwide database maintains government on-going strategy to manage its population that is expected to serve all stakeholders for any quest towards economic development. The study uses mixed method with the explanatory sequential strategy. The qualitative approach is used, using social network analysis, supported by desk study, in-depth interview, focus group discussion, and literature studies. This study attempts to provide for improvement to the extant regulations on identity card, mostly electronic-KTP. Demographic bonus is an interesting topic given that the younger the population, the higher the employment demand rate will be. Having systematic database bank and access is expected to alleviate the challenge on high population growth rate in Indonesia. Besides, recommendations are addressed to the policy maker (the Government), mostly on the review or amendment of the extant regulations that might not in line with the database systematic improvements. The study is a primary thesis from a review of population law, using multidisciplinary approach, i.e. population economics (demography), legal study, and public policy that can be used as a testing basis to answer further demographic bonus from an exploration of other scientific inquiries.Keywords: demographic economy, demographic bonus, population administration law, e-ID, social network analysis
THE MIDDLE-INCOME TRAP: IS THERE A WAY OUT FOR ASIAN COUNTRIES? Raisal Fahrozi Lubis; Putu Mahardika Adi Saputra
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 (315.665 KB) | DOI: 10.22146/jieb.10316

Abstract

This study aims at investigating the phenomena of the middle-income trap found in developing Asian countries, such as China, India, Indonesia, Malaysia, the Philippines, and Thailand. The effects of some of the determinant variables of per capita income, such as government expenditure, investment expenditure, high technology exports, factors of human capital (enrollment rates in secondary and tertiary education), and the dependency ratio are analyzed by using a factor analysis and regression analysis. The factor analysis is used to reduce the variable of the publics’ enrollment rate in secondary and tertiary education into the variable of the human capital factor. The findings of the study reveal that some variables, namely government expenditure, investment expenditure, high technology exports, and the factors of human capital, have positive effects in increasing the per capita income of a country. The variable of the dependency ratio, on the other hand, has a negative effect on a country’s per capita income.Keywords: Asian, middle-income trap, panel analysis, and slowdown.
THE CORRELATION AMONG THE FACTORS OF IMPLEMENTATION, THE SYSTEM DEVELOPMENT, AND THE RESULT OF PERFORMANCE MEASUREMENT SYSTEM: A Study Conducted in The Regency of Sumba Timur Linda Rambu Kuba Yowi
Journal of Indonesian Economy and Business (JIEB) Vol 26, No 3 (2011): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (181.2 KB) | DOI: 10.22146/jieb.6264

Abstract

This study is aimed to examine the relationship among factors determining the success or failure of the implementation of performance measurement systems with the development of performance measurement systems, performance accountability, and the use of performance information in the government institutions and to examine the impacts of the development of performance measurement systems on the performance accountability and the use of performance information.This research was carried out in the Local Government of East Sumba Regency. The research respondents were the government officers of Echelon II, III, and IV. The samples were selected using purposive sampling.509 questionnaires were distributed and 267 were used. Data were analyzed using Ordinary Least Square (OLS).This research finds that organization culture and resources have relationship with the development of performance measurement systems. In contrast, the limited informationsystems, difficulties in determining the performance metrics, management commitment, decision-making authority, and training do not have relationship with the development ofperformance measurement systems. The limited information systems, difficulties in determining the performance metrics and training do not have relationship with the performanceaccountability, but management commitment, decision-making authority, organization culture, and resources have relationship with the performance accountability. The difficulties in determining the performance metrics, decision-making authority, organization culture, and resources have relationship with the use of performance information, whereas the limited information systems, management commitment, and training do not have relationship with the use of performance information. Further, the development of performance measurement systems directly influences the performance accountability and the use of performance information and indirectly influences the use of performance information through the performance accountability.Keywords: performance measurement, performance accountability, performance information, local government
THE IMPACT OF FEMALE DIRECTORS ON FIRM PERFORMANCE: EVIDENCE FROM INDONESIA Triana .; Marwan Asri
Journal of Indonesian Economy and Business (JIEB) Vol 32, No 1 (2017): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (509.669 KB) | DOI: 10.22146/jieb.21994

Abstract

This research shows the impact of female directors on firm performance in Indonesia by using as its sample the public companies listed on the Indonesian Stock Exchange (IDX) from 2011 until 2015. There were 347 companies, with 1,735 samples observed. This research uses the multiple regression method. The model is a modified model from 9 recent articles published between 2012 and 2015. The empirical result shows that a female director has a positive significant effect on firm performance. The control variables, consisting of leverage, firm size and firm age have negative significance for firm performance. This research is conducted across 9 sectors of industrial classification, which support the International Finance Corporation (IFC) in increasing the number of female directors in Indonesia. For managers, this research will promote gender development in the boardroom, female executive training programmes as well as female representation on boards of directors. For regulators, this research may provide a contribution to gender representation in board’s policies, rules and regulations. This research can build awareness of women’s contributions to firms and encourage a greater female presence in the boardroom.
FINANCIAL AND NON-FINANCIAL FACTORS INFLUENCING INTERNET FINANCIAL AND SUSTAINABILITY REPORTING (IFSR) IN INDONESIA STOCK EXCHANGE Luciana Spica Almilia
Journal of Indonesian Economy and Business (JIEB) Vol 25, No 2 (2010): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (384.283 KB) | DOI: 10.22146/jieb.6296

Abstract

Internet Financial and Sustainability Reporting (IFSR) is voluntary in nature. With no specific regulations on IFSR, there is a disparity of IFSR practices among companies.Some companies disclose only partial financial statement using a low level of technology, while others disclose full sets of financial reports using sophistications of the web such as multimedia and analytical tools. Sustainability (1999) addressed the benefits (global reach, immediacy, ease of updating, transparency, link ability, and interactivity) ofreporting social and environmental information on the website and thus the factors that affect decision of whether or not to use this communication medium. By placinginformation on the firm’s website, users can search, filter, retrieve, download, and even reconfigure such information at low cost in a timely fashion.The purpose of this study was to examine financial variables that affect Internet Financial and Sustainability Reporting (IFSR) of listed in Indonesia Stock Exchange companies. The ordinal logistic regression used to examine variables that affect Internet Financial and Sustainability Reporting (IFSR). The sample of this research is companies that listed in Indonesia Stock Exchange. The 203 observations were divided into three categories: 87 companies not providing financial and sustainability report in the internet (No website), 62 companies providing financial and sustainability report in the internet with low index (Low Index) and 54 companies providing financial and sustainability reportin the internet with high index (High Index). The result shows that firm size, majority shareholders, auditor size and industry type as a determinant factor of internet financialand sustainability-reporting index in Indonesia, whereas leverage and profitability not statistically significant as determinant factors of internet financial and sustainabilityreporting index in Indonesia.Keywords: internet financial reporting, website, traditional financial reporting, internet, financial statement, voluntary disclosure.

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