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Journal of Indonesian Economy and Business

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Published by Universitas Gadjah Mada

ISSN : 20858272 EISSN : 23385847 DOI : -

Core Subject : Economy,

Economics, Econometrics & Finance

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.

Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)

Articles 989 Documents

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HEALTH COST IN INDONESIA: EVIDENCES FROM IFLS AND SUSENAS DATA Muhammad Ryan Sanjaya
Journal of Indonesian Economy and Business (JIEB) Vol 22, No 1 (2007): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Artikel ini menggunakan pendekatan statistik deskriptif dari data Susenas danIFLS untuk mengetahui biaya dan pola pengeluaran untuk kesehatan masyarakatIndonesia. Dari data Susenas 2004 diketahui bahwa mayoritas rumah tanggamenggunakan pendapatan mereka sendiri untuk membiayai pengeluaran kesehatan,dan hanya sedikit yang menggunakan asuransi kesehatan maupun kartu sehat. Secarastatistik terbukti bahwa pola pengeluaran penduduk kota berbeda dan lebih tinggidibandingkan dengan masyarakat pedesaan. Juga ditemukan bahwa pengeluaranuntuk kesehatan berkorelasi positif dengan pengeluaran rumah tangga. Sementaradari data Indonesia Family Life Survey (IFLS) tahun 2000 ditemukan bahwa pangsapengeluaran untuk kesehatan lebih rendah dibandingkan data yang didapat dariSusenas. Ongkos transportasi ke fasilitas medik menambah pengeluaran untukkesehatan terutama bagi penduduk desa karena keterbatasan akses terhadap fasilitasfasilitastersebut. Meskipun penelitian ini memakai dua basis data namun hasil yangdidapat tidak dapat diperbandingkan secara langsung mengingat keduanya memilikimetode, karakteristik, dan periode waktu yang berbeda.Kata kunci: health economics, economic development, Susenas, Indonesia Family Life Survey

INSTITUTIONAL OWNERSHIP AND AGENCY CONFLICT CONTROLLING MECHANISM Leo Indra Wardhana; Eduardus Tandelilin
Journal of Indonesian Economy and Business (JIEB) Vol 26, No 3 (2011): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

The research investigates ownership structure in Indonesia in context of agency theory for non-financial firms listed on the Indonesian Stock Exchange for 2000-2007 periods.The uniqueness of characteristic of ownership structure in Indonesia, which is dominated by large institutional shareholders motivated researcher to examine the impact and its relationship to agency conflict and balancing off agency theory in Indonesian companies.In this condition, it is certainly indicating that the existing conflict is not between managers and owners but majority and minority. The study argues that in low level ownership, controlling institutional shareholder expropriates the minority shareholders. However, when the ownerships comes to higher level, the controlling shareholder will make agency conflict lower since monitoring hypothesis becoming relevant in such level. In other words, the study argues that nonlinear relation between agency conflict which is proxied by firm’s performance ratios and controlling institutional ownership exist. Nevertheless, the study argues that debt and dividend policy can also be used to reduce the conflict. Thus, the study also examines the simultaneous relationships among the mechanisms used to reduce agency conflict.The result indicates that when controlling institutional shareholder has significant amount of shares, they will actively monitor the manager to ensure them making value.However, when the ownership is insignificant, controlling shareholder will harm firm value due to expropriation of controlling shareholder. Therefore, nonlinear relationshipexists between controlling institutional shareholder and agency conflict. Second, debt policy and dividend policy can be used to reduce the conflict. The last, it is found thatbalancing off agency theory is not applied among all policies. The only bidirectional relationship is between institutional ownership and debt policy.Keywords: controlling institutional ownership, agency theory, balancing off agency theory, debt policy, dividend policy

THE IMPACT OF TRADE ON CHILD LABOR: EVIDENCE FROM SELECTED SAARC AND ASEAN COUNTRIES Rossazana Ab-Rahim; Bilal Tariq
Journal of Indonesian Economy and Business (JIEB) Vol 32, No 1 (2017): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Past studies have tended to investigate the relationship between trade and child labor under the traditional trade theories, while assuming that the trade in homogenous goods and the results show inconclusive evidence of a relationship. Hence, it would be interesting to investigate the trade effects of differentiated goods on child labor in the setting of the new trade theory. This study attempts to investigate the trade-induced child labor effects (selection, scale and technique effects) in selected Asian countries over the period from 1999 to 2013. The countries consist of the major South Asian Association for Regional Cooperation (SAARC) countries, namely: Bangladesh, India, Pakistan, Nepal, and Sri Lanka and selected ASEAN countries, namely: Cambodia, Indonesia, the Philippines, and Thailand, where child labor is most common. The results of this study confirm that the total impact of trade on child labor also needs to account for the selection effect, in addition to the scale and technique effects. The findings imply trade liberalization hampers the child labor market in the context of the trade in differentiated goods.

REFORMULATING POLICY ON FREQUENCY USAGE FEES AS NON-TAX STATE REVENUE: URGENCY AND ITS IMPLICATIONS Haula Rosdiana
Journal of Indonesian Economy and Business (JIEB) Vol 25, No 2 (2010): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Spectrum/frequency is a backbone of telecommunication industry and an input to produce various goods and services. Because of its being a limited resource, by tradition it has come to be owned by the state. Many governments levy usage fees/charges to establish a managed spectrum environment or to generate national fiscal income. This varies in different countries. Government of Indonesia levies several taxes and fees/charges totelecommunication operators. As a result, there are double or multi-tax costs of taxation, which can distort productivity. This phenomenon shows that government should considerreformulating frequency usage fees policy in order to minimize the cost of taxation, promote teledencity, affordability, and growth of telecommunication industry. Moreover, many researches have showed that telecommunication industry could accelerate GrossNational Product (GNP).This study describes all taxes and fees/charges applied to telecommunication industry in Indonesia, comparing them to those of some other countries, and analyze frequencyusage fees based on the theory of earmarking tax. An alternative way to reformulate levy policy on frequency usage fee is analyzed by simulating its impacts using system dynamic.The result shows that taxes and fees/charges applied to telecommunication industry increased cost of taxation, and government should simplify in order to give them moreopportunity to increase their productivity resulting in products of good quality and affordable price. Furthermore, it is better for government to levy frequency usage feesbased on earmarking concept, so the frequency regulator can optimize its role to manage spectrum effectively and efficiently. Moreover, the government can provide public anduniversal services, especially in rural areas.Keywords: Frequency Fees, Earmarked Tax, Cost of Taxation, Supply side tax policy

THE DIFFERENCE IN CONSUMER RISK PERCEPTION BETWEEN CELEBRITY ENDORSER AND EXPERT ENDORSER IN COLLEGE ADVERTISEMENTS Euis Soliha; Naila Zulfa
Journal of Indonesian Economy and Business (JIEB) Vol 24, No 1 (2009): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This research aims to examine the difference in consumer risk perception between celebrity and expert endorser in advertisement. We proposed two hypothesis, H1: There is a difference in consumer risk perception between an expert endorser and celebrityendorser in college advertisement. H2: There is a difference in consumer risk perception between an expert endorser and a celebrity endorser in college advertisement, which is moderated by the consumer product knowledge.Experimental design was employed in this study with Statistical Experimental-Completely Randomized Design. This was conducted on three groups to test H1 and six groups to test H2. To test H1, the participant of each group was given full color print ads using celebrity endorser, expert endorser and nonendorser in advertisement. We gofurther splitting each group with high and low consumer product knowledge to test H2.The participants of this research are 200 students of SMA 7 Semarang. We use One Way Anova to test H1 and two ways Anova to test H2. Our findings showed that there is a difference in consumer risk perception between an expert endorser and celebrity endorser in college advertisement. We also found that there is no differencein consumer risk perception between an expert endorser and a celebrity endorser in college’s advertisement, which is moderated by the consumer product knowledge. We also found that there is difference in consumer’s perceived performance risk, consumer’sperceived financial risk and consumer’s social risk between an expert and celebrity endorser in College advertisement. On the other hand, we found there is no difference in consumer perceived psychological risk between an expert and celebrity endorser in College advertisement.Keywords: celebrity endorser, expert endorser, consumer risk perception, consumer product knowledge.

THE ROLE OF TECHNOLOGY IN REGIONAL DEVELOPMENT: TFP AND ECONOMETRICS ANALYSIS Adiwan F. Aritenang
Journal of Indonesian Economy and Business (JIEB) Vol 28, No 1 (2013): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

The development in Indonesia regions has been unbalance over the years. In Indonesia, significant differences on local governance capacities and natural resources lead to variation of regional economic development. Following economic theory, technology and innovation are expected to solve regional unbalanced development through optimizing local endowments and human capital. This paper aims to explore the role of technology and knowledge in regional economic development. The total factor productivity (TFP) measurement and econometrics analysis are conducted to explore technology contributions on regional economic development in Indonesia regions. The paper finds that technology level contributes significantly to economic growth, complementary with manufacturing industry. In addition, regional expenditure on education and research and development (R&D) are insignificant to economic growth. These findings confirm the role of industries in regional economic development.

EXAMINING THE MODERATING EFFECT OF DEMOGRAPHIC FACTORS OF BOARD OF DIRECTORS ON THE ASSOCIATION BETWEEN CORPORATE GOVERNANCE AND EARNINGS MANAGEMENT Sakina Nusarifa Tantri; Mahfud Sholihin
Journal of Indonesian Economy and Business (JIEB) Vol 27, No 1 (2012): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study aims to investigate whether corporate governance affects earnings management and if so whether such effect is moderated by age, gender, and educationalbackground of board of directors. Using Moderated Regression Analysis, this study examines a sample of 55 companies listed in the Indonesia Stock Exchange for the period of 2005 to 2009. The results show that corporate governance negatively affects earnings management. Further analyses reveal that the association is moderated by age, gender, and educational background of board of directors. Keywords: corporate governance, earnings management, age, educational background, gender.

THE ECONOMIC FACTORS AND OTHER VARIABLES THAT AFFECT THE EMPOWERMENT OF THE MICRO-BUSINESSES RUN BY FARMING COMMUNITIES IN VILLAGES AROUND THE FOREST AREAS Yoyo Sunaryo Nitiwijaya; Hajanirina Andrianantenaina
Journal of Indonesian Economy and Business (JIEB) Vol 31, No 3 (2016): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This research is conducted in Kuningan regency, West Java, Indonesia and aims to analyze the economic, social, institutional, and cosmopolitan factors which affect the empowerment of the communities of micro-business entrepreneurs. It attempts to investigate the problems that persist for this community, in that the people living near the forest are heavily dependent on it, and on their agricultural activities. They have to face institutional regulations and competition from immigrants. Due to the nature of the data, the complexity of the structured relationship, the multiple endogenous variables; SEM or Structural Equation Modeling is used to analyze and confirm the extant association between the studied variables in a covariance based approach assisted by AMOS. The results suggest that the micro-business community is strongly influenced by the dynamics of the institutional businesses in the village, their social interactions, economic capabilities and cosmopolitan drives with the immigrant communities. It shows the efficiency and importance of the institutional community while dealing with micro-businesses’ agrarian economic empowerment. Improvement in the regulations is necessary and is expected to improve the partnership between the government and private and public entities, to cope with the economic development of society in such communities, and others which may share the same characteristics.

OWNERSHIP TYPE AND COMPANY PERFORMANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE Fransiska Soejono
Journal of Indonesian Economy and Business (JIEB) Vol 25, No 3 (2010): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study is aimed to test the difference in performance among companies with various types of ownership (foreign, state, and private) on a sample of 206 companieslisted in ISE (Indonesian Stock Exchange) between 1999-2006 resulting in 795 company year observations. The ANCOVA model and multiple comparison methods are used to test the hypothesis that private-owned companies have better performance than state-owned enterprises and foreign-owned companies have better performance than private-owned companies. Contrary with the hypothesis, the result shows that state-owned enterprises have better performance than private-owned companies. The possible explanation for this is because state-owned enterprises have more experience than private-owned companies (based on LogAge). State-owned firms may get some special facilities (including the easiness to get debt funding) from government. The result also shows that foreign-owned companies have better performance than private-owned companies which support the hypothesis. Foreign-owned companies have more experience in managing enterprises than private-owned companies. Furthermore, foreign-owned companies in some industries tend to be more active in doing investment than private-owned companies. There are some implications of these results. First, different ownership type gives different effect to thecompany’s performance. Second, government can consider foreign ownership in its privatization policy.Keywords: Ownership type, Performance, Experience, Investment.

THE INTERDEPENDENCE BETWEEN THE FINANCIAL SECTOR AND BUSINESS SECTOR IN ASEAN 4 COUNTRIES Aulia Keiko Hubbansyah; Zaafri Ananto Husodo
Journal of Indonesian Economy and Business (JIEB) Vol 33, No 1 (2018): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

In this study, we analyze the dynamic interactions between the financial sectors and the business sectors in the ASEAN-4 countries (Indonesia, Malaysia, Thailand and Singapore). To do that, we apply the newly generalized version of the Vector Autoregressive Framework (VAR) spillover index approach proposed by Diebold and Yilmaz (2012) as our method of analysis. Based on quarterly data of each variable over the period from the first quarter of 1984 to the fourth quarter of 2015 for the ASEAN-4 countries, this study finds that: 1) Spillovers between the variables move in a diverse manner over the period of analysis for each country, 2) The variable that acts as the dominant crisis transmitter in each country is different for each country, 3) The interdependence between the variables became stronger, both within and across the countries, during the crisis period. In particular, the business sectors played a leading role during the onset of the crisis, while the financial sectors took their places as the dominant source of spillovers as the crisis deepened. 4) Credit growth in Thailand was found to be the dominant transmitter of shocks to the ASEAN-3 countries. Overall, these results suggest that the strength and movement of the spillovers between the financial and business sectors changed from time to time along with the changes that happened in the economies.

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Home Page

OAI Link

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Contact Name Wuri Handayani, Ph.D.

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Editorial Address Faculty of Economics and Business, Universitas Gadjah Mada Jalan Sosio Humaniora No. 1, Yogyakarta 55281

Location Kab. sleman, Daerah istimewa yogyakarta INDONESIA

Abstract

Abstract

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Abstract

Abstract

Abstract

Contact Name
Wuri Handayani, Ph.D.

Contact Email
-

Phone
-

Journal Mail Official
-

Editorial Address
Faculty of Economics and Business, Universitas Gadjah Mada Jalan Sosio Humaniora No. 1, Yogyakarta 55281

Location
Kab. sleman,

Daerah istimewa yogyakarta

INDONESIA