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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
STRUKTUR, KINERJA, DAN KLUSTER INDUSTRI ROKOK KRETEK: INDONESIA, 1996-1999 Simon Bambang Sumarno; Mudrajad Kuncoro
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 1 (2003): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6615

Abstract

This paper attempts to illuminate the dynamics of Indonesia’s clove cigarette industryusing Structure-Conduct-Performance (SCP) paradigm and industrial cluster approach.We employed concentration ratios (CR4, CR8, and IHH) and performance ratios in SCPanalysis. To identify industrial clusters, we used Geographic Information System (GIS) andsome tools of analysis, mainly size and specialization index. The structure of clove cigarette industry suggested that an oligopoly with high concentration has been found, albeit declined slightly over the period 1996-1999. As far as geographic concentration isconcerned, we found that this industy has clustered overwhelmingly in and around Kudus,Kediri, Surabaya, and Malang.Keywords: oligopolistic industry, concentration ratio, cluster
TOTAL AND INDIVIDUAL EFFECTS OF AN AGENCY-COST EXPLANATION FOR DIVIDEND PAYMENTS Dewi Ratnaningsih; Jogiyanto Hartono
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 1 (2003): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6616

Abstract

Penelitian ini menjelaskan dividend puzzle menggunakan teori biaya keagenan yangdiusulkan oleh Easterbrook (1984). Dia menghipotesiskan bahwa pemegang saham yangmenaikkan pembayaran dividen dan secara ‘simultan’ meningkatkan utang untukmembiayai investasinya lebih sejahtera dibandingkan dengan pemegang saham lainnyayang hanya meningkatkan pembayaran dividennya saja. Dia menyediakan mekanismebahwa pemegang saham menggunakan pembayaran dividen untuk memaksa manajer kepasar modal untuk menggalang dana. Argumen Easterbrook dibangun berdasarkan padabiaya pemonitoran keagenan. Biaya ini merupakan biaya yang signifikan dan pemegangsaham tidak dapat mendapatkan hasil sepenuhnya dari biaya pemonitoran yangdikeluarkan. Mereka hanya menerima manfaat sebesar proporsi kepemilikannya saja,karena beberapa manfaat akibat dari biaya pemonitoran ini akan juga diterima olehprisipal lain seperti pemegang obligasi. Suatu mekanisme untuk meningkatkankesejahteraan pemegang saham dilakukan untuk memaksa pemegang obligasi membagibeban biaya pemonitoran. Dengan demikian pemegang saham yang mampu memaksamanajernya mencari tambahan dana di pasar modal akan mendapatkan insentifmengurangi biaya pemonitoran keagenan.Kesejahteraan pemegang saham dipengaruhi oleh dua kebijakan yaitu, kebijakandividen (meningkatkan pembayaran dividen) dan kebijakan pendanaan (meningkatkanutang) secara ‘simultan’. Penelitian ini mencoba menginvestigasi kebijakan mana yangmempengaruhi yang lainnya. Penelitian ini selain meneliti efek keseluruhan dari keduakebijakan secara ‘simultan,’ juga meneliti efek individual dari masing-masing kebijakanterhadap kesejahteraan pemegang saham.Penelitian ini menemukan hasil mendukung hipotesis dari Easterbrook yaitu,perusahaan-perusahaan yang meningkatkan pembayaran dividen tunainya dan sekaligusmeningkatkan utang-utangnya benar-benar meningkatkan kesejahteraan pemegang saham.Meningkatkan pembayaran dividen akan menurunkan kesejahteraan pemegang saham,tetapi meningkatkan utang setelahnya akan meningkatkan kesejahteraan pemegang saham dengan efek total bersih berpengaruh positif terhadap kesejahteraan pemegang saham.Keywords: agency monitoring cost, dividend mechanism, dividend policy, financing policy,total effect, individual effect, shareholders’ wealth, investment opportunity set.
ANALISIS PERTUMBUHAN ENDOGEN DALAM OTONOMI DAERAH Bambang Ismawan
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 2 (2003): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6617

Abstract

Decentralization era is a momentum for mobilizing local resources to develop localcapital. Microfinance is the key to capital formation at the local level, solve the bigproblem of poverty and empower people’s socio economy. The strength of microfinance is based on people driven and it’s sustainability. Microfinance will contribute broad based development and development through equity.Keywords: Accessibility, people’s economy, self reliance, microfinance, microenterprise, sustainability
ANALISIS PERTUMBUHAN ENDOGEN: DAMPAK LIBERALISASI PERDAGANGAN DI SEKTOR INDUSTRI MANUFAKTUR INDONESIA, 1979-1997 M. Irsan Arief; Catur Sugiyanto
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 2 (2003): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6618

Abstract

Trade liberalization in recent years has been part of important world agenda in anattempt to create an unlimited relationship. The endogenous growth literature provides persuasive support that stresses the importance of international trade levels for economic growth. This research uses endogenous growth approach to analyze the effect of international trade on manufacturing industry sector of Indonesia, and importantly to find out the impact in relation to trade liberalization in 1985.The panel data is used and the trade deregulation policy is captured by using dummy variable. A piecewise linear regression model is applied. Observation covers 26 manufacturing sectors between 1979 and 1997.In general, the results show that trade variables used to measure productivity growth rate have small effect on output growth. There is also a positive effect of export growth in one year time lag on productivity but it lesser than that of the imported input growth. We confirm that trade deregulation in 1985 contribute to the increase in productivity of the manufacturing sectors, especially the export oriented firms. Nevertheless, the relatively smaller effect of trade variables than production variables can be a sign of low productivity rate in international trade that is expected to lead the growth of Indonesian manufacturingindustry.Keywords: Trade liberalization, productivity, growth, Indonesian manufacturing industry.
DAMPAK TRAGEDI BOM DI LEGIAN KUTA TERHADAP PERAN SEKTOR PARIWISATA DALAM PRODUK DOMESTIK REGIONAL BRUTO (PDRB) BALI I Nyoman Erawan
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 2 (2003): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6619

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.
EVALUASI DAMPAK PROGRAM PENANGGULANGAN KEMISKINAN BERSASARAN DI PROPINSI D.I. JOGJAKARTA Awan Santosa; Dadit G. Hidayat; Puthut Indroyono
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 2 (2003): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6620

Abstract

This research tries out the ESCAP’s manual on Impact Evaluation for PovertyAlleviation Program in the province of Yogyakarta Special Region. There are several indicators of program evaluation in this method, i.e.: income indicator, poverty reduction, efficiency in program delivery, financial viability, and other aspects. The program clasified into two categories, Self Employment Program (SEP’s) and Public Work Program (PWP’s). SEP carried out by giving revolving block grant to the poor and PWP is carried out by developing physical building as public utilities. The research produces quantitative estimate of program success/failure, which can be useful to evaluate or to improve the implementation of poverty alleviation programs in the future.Keywords: targeted Poverty Alleviation Program, self employment program, public work program, income generating, poverty reduction, efficiency in programdelivery, financial viability.
SUATU TINJAUAN MENGENAI KOPERASI UNIT DESA DAN KOPERASI SERBA USAHA DOSEN GADJAH MADA DILIHAT DARI STRUKTUR ORGANISASI, KEUANGAN DAN LAINNYA H. R. E. Djarkasih Satiakusumah
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 2 (2003): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6621

Abstract

Recently village Unit Cooperatives (KUD) as one kind of cooperatives to still unable to give sufficient economic services to the community and to realize its role in the national economy, since it still faces various obstacles, both internally and externally, it was necessary to increase the participation by their members.The writer also analyses KOSUDGAMA, to find out the differences of the businesssuccess of the two cooperatives in 2001 and 2002.So a comparative study to KOSUDGAMA in Yogyakarta by managers of KUD in West Java Province need to be done to obtain the experience of other cooperative in running business success.Keywords: Village Unit Cooperatives (KUD), KOSUDGAMA, Participation, Comparative Study, Business success.
THE AGRARIAN DISPUTE AND SOCIAL BASIS OF COLONIAL PLANTATION IN JAVANESE PRINCIPALITY: VIEWS FROM JAVANESE SOURCES Sri Margana
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 2 (2003): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (233.424 KB) | DOI: 10.22146/jieb.6622

Abstract

Masuknya sistem perkebunan kolonial pada akhir abad 19 di Indonesia menimbulkan berbagai perlawanan/konflik dari rakyat. Secara struktural konflik terjadi antara rakyat lemah dan elit desa di satu sisi, dengan perkebunan kolonial dan birokrasi di sisi yang lain. Namun menarik untuk dicermati apakah konflik tersebut hanya disebabkan sistem kapitalistik dan hegemoni bangsa Eropa terhadap Asia ataukah ada faktor lainnya. Tulisan ini menggambarkan proses dominasi perkebunan kolonial dengan latar belakang penentangan kolektif, berdasar struktur konflik di dalam perkebunan kolonial, kerajaan Jawa, dan rakyat desa. Penelitian ini juga menjawab pertanyaan mengapa suatu wilayah dengan tipologi ekonomi kolonial yang sama menghasilkan tingkat penolakan/perlawanan yang berbeda. Studi kasus yang diteliti adalah perusahaan gula Sewu Galur dan perusahaan nila Sumbernila di wilayah Pakualam pada akhir abad 19, dengan aktor-aktor perlawanan rakyat beserta persepsi hidup mereka. Konflik terjadi tidak hanya secara kolektif, melainkan secara individual yang dilatarbelakangi ketimpangan dan persaingan ekonomi. Konflik di perkebunan kolonial disebabkan adanya struktur lingkungan ganda (hybrydal environment) antara sistem agraria lama dan sistem kapitalisme perkebunan kolonial, selain juga karena struktur politik penjajahan.
THE IMPACT OF ACCOUNTING METHODS ON THE QUALITY OF EARNINGS: THE CASE OF OIL AND GAS INDUSTRY Suwardjono Suwardjono
Journal of Indonesian Economy and Business (JIEB) Vol 18, No 2 (2003): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6623

Abstract

Full cost (FC) dan successful efforts (SE) adalah dua alternatif metoda akuntansidalam memperlakukan pengeluaran untuk eksplorasi dan pengembangan dalam industri minyak dan gas bumi. Dalam tahun 1977, Financial Accounting Standards Board (FASB) meniadakan metoda kos penuh dan peniadaan tersebut segera dibatalkan oleh Securities and Exchange Commission (SEC) dalam tahun 1978. Berbagai studi telah membahas masalah ini dan memusatkan perhatian lebih pada reaksi pasar terhadap ketidakpastian status standar daripada reaksi pasar terhadap kandungan informasi laba (earnings).Penelitian ini menggali lebih jauh asosiasi antara metoda akuntansi dan variabilitas tanggapan pasar terhadap pengumuman laba.Tujuan penelitian ini adalah untuk menentukan apakah pasar bereaksi secara berbeda terhadap pengumuman laba antara perusahaan FC dan SE. Penelitian ini memberikontribusi pada literatur tentang earnings response coefficient (ERC) dengan caramembandingkan ERC untuk perusahaan FC dan SE dan sekaligus menawarkan model alternatif dalam pengukuran laba kejutan (unexpected earnings). Penelitian ini menguji perbedaan ERC secara cross-sectional dalam kaitannya dengan karakteristik perusahaan.Penelitian ini mendapati bahwa estimasi secara pooled cross-sectional mendukung temuan sebelumnya yaitu ERC untuk perusahaan SE secara statistis lebih besar daripada ERC untuk perusahaan FC terutama untuk perusahaan FC dalam selang return sebelum (termasuk) hari pengumuman laba.Keywords: successful efforts, full cost, quality of earnings, pooled cross-sectionalestimation, oil and gas industry
SPEED OF ADJUSTMENT AND TARGET DIVIDEND PAYOUT RATIO IN INDONESIA Eduardus Tandelilin
Journal of Indonesian Economy and Business (JIEB) Vol 17, No 1 (2002): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (173.237 KB) | DOI: 10.22146/jieb.6624

Abstract

Penelitian ini bertujuan untuk menganalisis kecepatan penyesuaian dan target rasio pembayaran dividen di Indonesia dengan menggunakan model Lintner. Sampel penelitian terdiri dari 975 perusahaan yang terdaftar di Bursa Efek Jakarta (BEJ) yang melakukan pembayaran dividen selama periode 1994 sampai dengan 1999. Penelitian ini menemukan empat hal penting, yaitu: pertama, selama berlangsungnya krisis moneter di Indonesia, jumlah perusahaan yang mengumumkan earning dan membayar dividen mengalami penurunan yang signifikan. Kedua, perusahaan-perusahaan di Indonesia selama periode 1994-1999 cenderung lambat melakukan penyesuaian pembayaran dividen mareka terhadap target dividennya, yaitu sekitar 0,36. Hasil ini menunjukkan kecenderungan yang lebih lambat dibanding hasil penelitian sebelumnya yang dilakukan oleh Sutojo dan Irianto (1990; 1995) selama periode 1986-1993, serta Selvi (1999) selama periode 1991-1996. Ketiga, perusahaan-perusahaan di Indonesia selama periode 1994-1999 membayarkan dividen bagi pemegang sahamnya sebesar 0,53 dari earning yang diperolehnya. Hasil ini lebih rendah dibanding temuan penelitian sebelumnya oleh Sutojo dan Irianto (1990;1995) dan Selvi (1999). Keempat, ada kecenderungan bahwa selama periode 1994-1999 investor di Indonesia lebih berorientasi pada capital gain. Hasil ini konsisten dengan hasil penelitian sebelumnya oleh Sutojo and Irianto (1990, 1995) serta Selvi (1999). Kata Kunci: Kecepatan penyesuaian, Rasio target pembayaran dividen, Model Lintner, Orientasi capital gain.

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