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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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THE IMPACT OF RISING FOOD PRICES ON FARMERS’ WELFARE IN INDONESIA Albertus Girik Allo; Elan Satriawan; Lincolin Arsyad
Journal of Indonesian Economy and Business (JIEB) Vol 33, No 3 (2018): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Food prices regularly change due to various factors such as the policy on imports. This paper analyzes the impact of changes in food prices including rice, red onions, and garlic, on farmers’ welfare. The Quadratic Almost Ideal Demand System (QUAIDS) was used to estimate the demand function for food commodities, and the Compensating Variation (CV) was used to estimate the impact of price changes both immediately and in the short-term. This study contributes an idea of how the government makes its policies on food prices and imports, and how they provide benefits for farmers in Indonesia. Data were collected from the 2014 National Socio-economic Survey (SUSENAS). The research results indicated that income improvement led to the increase in rice, red onion and garlic consumption. The dynamics of income, own-price and cross-price elasticity varied, depending on demography, the social economic condition, and the geographic location of the household. The short-term impact of imported products on welfare changes was larger than the immediate impact.

THE IMPLEMENTATION OF RISK MANAGEMENT AND ITS EFFECT ON GOOD COOPERATIVE GOVERNANCE AND SUCCESS Sugiyanto Sugiyanto; Anggi Andriani Rahayu
Journal of Indonesian Economy and Business (JIEB) Vol 33, No 3 (2018): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

The Cooperative success must be support by Good Cooperative Governance and implementation of risk management. This study identifies risk management, especially in savings and loan cooperatives, and to test and prove empirically the effects of the implementation of risk management on good cooperative governance and the cooperative success. The research method used a descriptive quantitative analysis and saturation sampling techniques; while the size of the population was 73 persons, consisting of various cooperatives’ boards of directors, supervisors, managers, and administrators. The primary data needed in this study were obtained by using a survey method which involved questionnaires and conducting structured interviews. This study uses a statistical approach by using path analysis. The result of this study shows that two categories of risks can be identified, which are minor and insignificant risks. A minor risk includes the credit risk and strategic risk, and an insignificant risk includes six risks: market risk, liquidity risk, operational risk, legal risk, reputation risk and compliance risk. Based on the statistical analysis, the indication is that there is no effect from the implementation of risk management on a cooperative’s success, but there is an effect from the implementation of risk management on good cooperative governance, and good cooperative governance has an effect on a cooperative’s success. Indirectly, a cooperative’s success is not influenced by the implementation of risk management, but it is influenced by the implementation of risk management through good cooperative governance as an intervening variable.

DO TAX STRUCTURES AFFECT INDONESIA ECONOMIC GROWTH? Heru Iswahyudi
Journal of Indonesian Economy and Business (JIEB) Vol 33, No 3 (2018): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This paper investigates how changes in the tax structure may affect Indonesia’s long-run economic growth.* The growth effects of the mix of income taxes and consumption taxes are examined using a set of panel growth regressions, which account for indicators of the tax structure, as well as both the accumulation of physical capital and human capital. The results suggest that income taxes may not exert a statistically significant impact on long-run growth, while consumption taxes may have a positive and statistically significant impact. These results, however, are not robust to changes in the regression’s specifications. Hence, although previous studies predict that the mix of direct and indirect taxes may be an important determinant of long-run growth, this paper provides evidence that, in practice, this mix is unlikely to have an impact on the long-run economic growth of Indonesia. It is therefore suggested that policy makers could instead focus their attentions on directing tax reform in Indonesia toward improving tax administration and the equity of the tax system.

SHOPPING EXPERIENCE AND SUBJECTIVE WELL-BEING: AN EMPIRICAL STUDY Ananda Sabil Hussein
Journal of Indonesian Economy and Business (JIEB) Vol 33, No 3 (2018): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

While a traditional marketer aims to enhance customer loyalty, a social marketer focuses on the creation of individual well-being. To date, some social marketing programs have been launched to enhance individual well-being. However, only a few studies have been oriented to investigate subjective well-being, in the domain of traditional marketing. Previous studies have indicated that service quality is an important determinant of subjective well-being for a service organization’s customers. However, this notion is not enough as service quality only captures performance of service in the level of attribute. For that reason, this introduces the notion of experience quality as the determinant of subjective well-being. To have a better knowledge about the relationship between these constructs, this study also inserted the notion of customer satisfaction and perceived shopping enjoyment as mediating variables. Two hundred respondents participated in this study. These respondents were recruited at department stores in Malang, a city in the Province of East Java. A self-administered survey was conducted to collect the data. A Covariance Based Structural Equation Model (CBSEM) was employed to analyze the data. The results of a Confirmatory Factor Analysis (CFA) confirmed the model proposed. The structural model showed that the experience of shopping has significant effects on customer satisfaction, perceived shopping enjoyment, and subjective well-being. However, this study failed to prove the mediating effects of customer satisfaction and perceived shopping enjoyment in the relationship between the shopping experience and subjective well-being. Upon the completion of this study, both theoretical and practical contributions were provided.

DETERMINANTS OF BANK PROFITABILITY: THE CASE OF THE REGIONAL DEVELOPMENT BANK (BPD BANK) IN INDONESIA Heyvon Herdhayinta; R.A. Supriyono
Journal of Indonesian Economy and Business (JIEB) Vol 34, No 1 (2019): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Introduction: The Regional Development Bank (BPD Bank) is expected to be a strong, highly competitive bank, which will contribute to the growth and even distribution of sustainable regional economies. Background Problem: A review by the Financial Service Authority (OJK) of the BPD Bank’s business growth indicates the low competitiveness of the BPD Bank, relative to other commercial banks. Novelty: Limited prior studies have been conducted on the profitability determinants of the BPD Bank, especially in Indonesia, and previous studies have only focused on the internal determinants of profitability. Hence, this research aims to analyze both the internal and external profitability determinants of the BPD Bank in Indonesia. Research Method: This study analyzes 135 observations in total from all 27 BPD banks in Indonesia for five years, from 2011 to 2015. This research measured bank profitability using ROA and ROE as the dependent variables. The independent variables are the internal and external determinants of bank profitability. The internal determinants of profitability consist of TA, TCORCAP, CAR, NPL, LDR, OE/OI and NIM; whilst the external determinants include TMS, INF and BIRATE. Findings: The findings of this study show that the profitability of the BPD Bank, as measured by its Return on Assets (ROA) and Return on Equity (ROE), is significantly determined internally by the total assets, LDR, OE/OI, and NIM and externally by the BIRATE and inflation. Those variables have positive relationships with profitability, except for OE/OI and inflation, which have negative relationships with profitability. In addition, two hypotheses are only partially supported, in which the total core capital and CAR show negative relationships only with ROE. Conclusion: The findings of this paper provide a deeper insight to help manage the profitability of the BPD Bank, which eventually can promote sustainable economic development.

TARIFF ELIMINATION UNDER THE TRANS-PACIFIC PARTNERSHIP AND ITS IMPACT ON INDONESIA’S TRADE BALANCE Pritish Kumar Sahu
Journal of Indonesian Economy and Business (JIEB) Vol 34, No 1 (2019): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Introduction: Indonesia has signed, and is in the process of signing, many bilateral and regional Free Trade Agreements (FTAs). Whether these trade agreements will benefit Indonesia on the economic front or not is still a matter for discussion. Background Problem: Signing TPP, raises many questions as to how this would affect the countries in Asian regions, including Indonesia. Novelty: Considering the criticism of CGE (Computer General Equilibrium) model, this paper uses the SMART simulation model, based on a partial equilibrium approach, to estimate the aggregate and commodity-level gains and losses for Indonesia with its partner countries during the post-tariff elimination period. Research Method: This study uses the World Bank’s World Integrated Trade Solution (WITS) Database. This database contains trade data for all the countries under a different nomenclature viz. at the two-digit, four-digit, and six-digit level. We use the HS-classified nomenclature at the six-digit level in order to estimate the impact of the removal of tariffs on Indonesia’s trade, i.e. both exports and imports. Findings: The finding reveals that if Indonesia does not take part in the Trans-Pacific Partnership Agreement, it will still have a trade surplus of $1.6 billion with the Trans-Pacific countries but joining the bloc would result in a trade deficit of $19 million. Joining the bloc would increase the imports from Japan, followed by the United States and Australia as against an increase in exports to the United States, followed by Malaysia and Vietnam. The post Trans-Pacific Partnership period will have many implications for Indonesia, it may face difficulties exporting to the member countries, even with an existing trade agreement, while in the long run the Trans-Pacific Partnership bloc could limit Indonesia’s trade prospects with these Pacific Rim countries and it may limit Indonesia influencing WTO outcomes. Conclusion: Trade agreements seem to have benefited Indonesia’s economy and its people in many ways over the years, even though it has an important cost for some people.

TEENS AND THE HANG OUT LIFESTYLE: WHAT DRIVES TEENS SATISFACTION AND ATTITUDINAL LOYALTY? Risca Fitri Ayuni
Journal of Indonesian Economy and Business (JIEB) Vol 34, No 1 (2019): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Introduction: Satisfying teens consumer group is critical to retain a larger market share in the future. Creating teens’ experience and value seems to be fundamental for enhancing both satisfaction and loyalty in cafes industry. Background Problem: This study examines the impact of customers’ experiences and the hedonic quality on teenagers’ satisfaction and attitudinal loyalty. Novelty: This study provides a new and comprehensive model of customer experience by adding hedonic value as a subjective experience to evaluate satisfaction and attitudinal loyalty. Research Method: Questionnaires were used to collect the data. Purposive sampling was chosen to select the respondents. Two hundred Indonesian teens participated in this study. In order to achieve the aim of this study, SPSS 23 and Partial Least Square (PLS) 3 were used. Seven out of ten hypotheses proposed in the study were supported. Findings: Three dimensions of customer experience (staff interaction, customer interaction and physical environment) have a significant effect on customers’ satisfaction, but only one dimension (physical environment) has an effect on customers’ attitudinal loyalty. An additional finding of this research is that all the hedonic quality dimensions (except hedonic emotional) have an effect on customers’ satisfaction. Lastly, customers’ satisfaction has a significant effect toward customers’ attitudinal loyalty. Conclusion: The findings suggested that a cafe’s manager or owner should pay attention to their customers’ experiences and their hedonic quality, in order to create customer satisfaction and enhance their attitudinal loyalty toward the cafe.

ECONOMIC BEHAVIOR OF MICRO AND SMALL BUSINESS HOUSEHOLDS IN A BRANCHLESS BANKING SYSTEM Ktut Silvanita Mangani; Yusman Syaukat; Bustanul Arifin; Mangara Tambunan
Journal of Indonesian Economy and Business (JIEB) Vol 34, No 1 (2019): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Introduction: This study aims to analyze how the existence of branchless banking in rural areas affects the economic behavior of the micro and small business households, and vice versa. Background Problem: Within the framework at inclusive finance program, Indonesia has implemented the branchless banking model. However, the impact of the branchless banking system to micro and small business household has not discussed yet. Research Method: The research was conducted in Bogor District, with many remote villages adjacent to Jakarta, a capital city of Indonesia. A total of 97 samples of micro and small business households were selected from 13 sub-districts. The estimation was conducted using 2SLS method. The model describes the existing condition that explains the uniqueness of the economic behavior of the micro and small business households in a branchless banking system. Novelty: Studies related to branchless banking generally analyzed from the perspective of banking institutions. However, this study focusses on supply side, namely it analyzDe the household economic behavior using simultaneously equation model. Findings: The results show that the presence of branchless banking agents, as measured by the value of the transactions conducted by the households, have little effect on the economic behavior of the micro and small business households. On the other hand, the economic behavior variables which are expected to affect the value of the transactions do not occur. The results explain that the utilization of the banking services provided through agents in the branchless banking system is in the form of payment transactions. In addition, the presence of branchless banking in rural areas has not affected production activities and vice versa. Conclusion: This study suggests a further study to find out the factors that make business actors unwilling to perform financial transactions related to their production activities through branchless banking agents.

ACCOUNTABILITY PRESSURE AS DEBIASER FOR CONFIRMATION BIAS IN INFORMATION SEARCH AND TAX CONSULTANT’S RECOMMENDATIONS Fauzan - Misra; Slamet Sugiri; Eko Suwardi; Ertambang Nahartyo
Journal of Indonesian Economy and Business (JIEB) Vol 34, No 1 (2019): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Introduction: This study examines the influence of accountability pressure toward information search behavior and the subsequent tax recommendation. Background Problem: Prior research has shown that tax consultants are subject to confirmation bias during their information search when providing recommendations to their clients. Nevertheless, less attention has been given to identifying boundary condition or mitigating factors. This study proposes accountability pressure to mitigate such bias. Novelty: This study broadens the understanding of the effect of different accountability pressures on an individual’s effort and judgement making. Research Method: The research was conducted by an experimental approach using a 1x2 between-subjects design using an Internet-based instrument. Accountability pressure is manipulated into 2 levels (strong or weak). The experiment involved 82 tax professionals. Findings: The results show that accountability pressures influence the depth of the consultant information search. That is, a tax consultant those faced a high accountability pressure performed a deep search, while those who faced a weak accountability pressure conducted a shallow search. Then, a deep search leads to more conservative recommendations, while a shallow search leads to an aggressive recommendation. Furthermore, the results of interaction and simple effect tests show that the information search depth can mitigate confirmation bias occurred during information search processes. Conclusion: These findings imply that accountability within the organization needs to get more attention from tax consultants. While any prior research found that confirmation bias was proofed to have pervasive character and hard to be eliminated, this study pointed out that the accountability pressure could mitigate such bias.

ANALISIS DAMPAK STRUKTUR KEPEMILIKAN PADA KEBIJAKAN HUTANG DALAM MENGONTROL KONFLIK KEAGENAN Erni Masdupi
Journal of Indonesian Economy and Business (JIEB) Vol 20, No 1 (2005): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6515

This study examines the impact of ownership structure and some control variables on corporate debt policy (debt ratio) in an agency theory context. Control variables are dividend payment, firm size, asset structure, firm profitability and tax rate. This study is based on the previous study by Moh’d et al., (1998), which found that ownership structure of the firms’s equity (insider ownership, shareholder dispersion and institutional investor) is important in explaining corporate debt policy in a agency theory context.This study is focused on all firm listed on Jakarta Stock Exchange, except financial and insurance firms from 1992 to 1996. The method of analysis is using pooling. The method of data collection is purposive sampling. There are 100 firms year observation.The result of the study shows that insider ownership and institutional investor to be significant and negative determinant of the corporate debt policy (debt ratio). It also indicates that shareholder dispersion is insignificant determinant of debt ratio.Keywords: Debt Ratio, Ownership Structure, Agency Theory, Insider Ownership, Shareholder Dispersion and Institutional Investor.

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Home Page

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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

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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