Journal of Indonesian Economy and Business最新文献

{"title":"The Relationship between Asia Pacific Markets during the Financial Crisis: VAR-Granger Causality Analysis","authors":"Hayun Kusumah, Marwan Asri, K. Setiawan, B. Setiyono","doi":"10.22146/jieb.v37i2.1474","DOIUrl":"https://doi.org/10.22146/jieb.v37i2.1474","url":null,"abstract":"Introduction/Main Objectives: This study investigates the relationships between equity markets during the Asian financial crisis and the subprime mortgage crisis in Asia-Pacific. Background Problems: The advantages of market integration are under scrutiny in the midst of global financial crises, which have many implications for international asset pricing and regulators to develop strategies to protect economies. During the crises, the equity markets responded with different patterns, and it is important to understand in more detail the market relations during each crisis, especially for the less and more integrated markets. Novelty: We provide in-depth analysis to compare the market relationships during two extremely different financial crises originating from less integrated markets (i.e., emerging ones) and more integrated markets (i.e., developed ones), based on the prices which give a direct measurement and clear interpretation. This research provides a significant contribution by showing new findings in the form of a comparison of market relations during two extremely different crises in the Asia-Pacific region. Research Methods: This study employs time-series data from economic territories based on the Morgan Stanley Capital International (MSCI) Asia-Pacific classification and the United States. We conducted analysis using the vector autoregressive, Granger causality test, and impulse response, to point out the market relationships during the crises or turmoil periods. Finding/Results: The results show that the Asian financial crisis affected the emerging markets more and this indicates the unidirectional causality relationships among them. Meanwhile, the subprime mortgage crisis affected all the markets, but more indicated the bidirectional relationships, especially the developed markets. Conclusion: Although these two financial crises were global in nature, the effects on the region were different. The origin of the shock and the level of market integration affected the market relationships differently during the crises.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"59 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84947436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Exploring Citizen’s Satisfaction with the Infrastructure of Services at a Local Seaport in Ternate, North Maluku","authors":"Johan Fahri","doi":"10.22146/jieb.v37i2.3449","DOIUrl":"https://doi.org/10.22146/jieb.v37i2.3449","url":null,"abstract":"Main objective: This research aims to explore the aspects of citizen satisfaction with basic government infrastructures, using a specific seaport as the site for the research. Background problems: Their impacts of on people’s lives of basic infrastructures that the Indonesian government is currently developing should be measured, particularly how satisfied citizens are with these infrastructures. Extant literature indicates there has been limited discussion using qualitative research—which has mainly used the grounded theory approach—to understand citizen satisfaction. This context has rarely been used to explore users’ satisfaction with the local seaport. Novelty: This current research offers theoretically grounded and real aspects of citizen satisfaction that lead to a testable model to enrich a comprehensive conversation of customer satisfaction in the public sector. Methods: This research has used a grounded theory approach to define and explore, in depth, the main aspects of satisfaction felt by citizens who are the customers frequently using the seaport to enable their mobility between the islands. Results: The results identify five main aspects of citizen satisfaction when using local seaports. These aspects were used to revisit the dimensions of SERVQUAL. The sentiments of the users were also recognized and analyzed as a part of an overall evaluation of the satisfaction. Conclusion: While previous studies have provided a great deal of evidence on citizen satisfaction, the results of this study are drawn from an in-depth examination of those earlier pieces of evidence, including those regarding emotions and sentiments. Future studies are also recommended to overcome some of the limitations of this research.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"36 6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78014921","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of Cognitive and Affective Involvement on Intention to Use and Word of Mouth: The Case of Zoom Users In Indonesia","authors":"Nur Halimah Siahaan, Aldini Nofta Martini, M. Halim","doi":"10.22146/jieb.v37i2.1403","DOIUrl":"https://doi.org/10.22146/jieb.v37i2.1403","url":null,"abstract":"Introduction/Main Objectives: This study investigates affective and cognitive involvement that reflects psychological ownership and consumer-brand identification in the use of zoom application. Background Problems: The Zoom application was proposed because of its increasing popularity amid the Covid-19 pandemic. The selection of the zoom meeting application is the right way to find out how much the users want to continue this application both for themselves and to promote it to others by word of mouth (WOM). Novelty: This study examines the effect of cognitive and affective involvement on continuance intention to use and WOM by examining the mediating role of consumers’ psychological ownership and consumer-brand identification. Research Methods: 200 responses were analyzed using structural equation modeling (SEM) to test this study’s hypotheses. Finding/Results: The findings support the mediating role of the extent of consumer’s psychological ownership in describing the effect of affective involvement and continuance intention to use of a brand. In addition, the results support the mediating role of the extent of consumer-brand identification in describing the relationship between affective involve­ment and continuance intention to use a brand and engage in WOM promotion. Conclusion: These findings expand and unite existing theory on involvement and a continuing intention to use and engage in WOM.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"34 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81345766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of Financial Compensation for Farmland Acquisition on Household Welfare: The Yogyakarta International Airport Development Case","authors":"Y. Purbawa","doi":"10.22146/jieb.v37i2.1499","DOIUrl":"https://doi.org/10.22146/jieb.v37i2.1499","url":null,"abstract":"Background Problems: Land acquisition is a major issue in development policy, and compensation is often described as being inadequate; meanwhile, adequate compensation is the key element of fairness. Main Objectives: The objective of this study is to examine the impact on household welfare of financial compensation for farmland acquisition for new airport development. Novelty: This study utilizes land acquisition for the new Yogyakarta International Airport (YIA) because this area provides a reasonable case for evaluation. Research Methods: A quasi-experimental design is used to draw a causal relationship. A questionnaire survey has been conducted with 452 households, consisting of 207 households in the treatment group and 245 households in the control group. Finding/Results: On average, the financial compensation for the farmland acquired for the new airport development increased a household’s total annual income by as much as 32.06%, especially the income that was generated from self-owned business and farmland activity, and it also increased their total annual expenditures by as much as 26.55%, especially those related to food, energy (LPG and fuel), vehicles, internet and phone, religion, social relationships, and insurance. Conclusion: This study highlights that financial compensation for farmland acquisition for tertiary industry, specifically a new airport development, has a positive impact on both the total annual income and the total annual expenditures.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88758728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Role of Digital Marketing Interventions in E-Advocacy Leverage Capacity: A Culinary Business Breakthrough to Counter the COVID-19 Pandemic","authors":"A. Setiawan, Annisa Pratiwi Hendraningsih, S. Rahayu, A. S. Dewi","doi":"10.22146/jieb.v37i2.3995","DOIUrl":"https://doi.org/10.22146/jieb.v37i2.3995","url":null,"abstract":"Introduction/Main Objectives: This research aims to study the important factors behind achieving the e-advocacy leverage capacity that determines the success of a business in the sphere of digital marketing. Background Problems: In response to the increasing competition in the world of online culinary businesses due to the COVID-19 pandemic, businesses have to enhance strategic marketing to improve consumer loyalty. Novelty: This research model contributes to the development of a concept about consumer advocacy from the perspective of strategic marketing, which is still a limited area of study. Research Methods: The research model was applied to 220 respondents (Indonesian culinary business owners) using a survey that was processed with AMOS SEM. Finding/Results: This research convincingly identifies two significant building factors for e-advocacy leveraged capacity, namely promotional attractiveness and digital affinity direction. Conclusion: Companies’ marketing strategies focus not only on maintaining close customer relations but also on ways to intervene with customers so that they are willing to advocate products or brands through digital media.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83213649","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Calibrating the Final Results of the Hay System of Job Evaluation Using Urgency, Seriousness, and Growth (USG) Analysis in Indonesia","authors":"Haspul Naser Haspul Naser, Nurwulan Kusuma Devi, Nurul Wahdini","doi":"10.22146/jieb.v37i1.1475","DOIUrl":"https://doi.org/10.22146/jieb.v37i1.1475","url":null,"abstract":"Introduction/ Main Objectives: The research argues that the job evaluation process may not reflect a sense of justice, that is, in most cases, the decisions of the board of directors (BOD) appear to be biased. Background Problems: Lack of transparency and unfairness in job evaluations may create disharmony in the workplace. Novelty: The researchers used the Urgency, Seriousness, and Growth (USG) analysis to find the root cause of employees’ dissatisfaction because of unfairness in the final job size, which may impact the wages. The researchers were also required to be familiar and have experience with the Hay System. Research Methods: To adjust the job size and to promote fairness, the Hay System needs to be strengthened with the USG analysis. This study uses a qualitative approach and requires a more in-depth analysis to obtain the best results. Findings/ Results: The job evaluation only refers to the Hay System. The job analysis, benchmark, and survey are not used as a reference or to interview the managers. If the Hay system is solely used, the final result of the job evaluation can be biased;. therefore, it is necessary to get a second opinion to create a sense of fairness. One of the tools to calibrate the final result of job evaluation is the USG analysis. Conclusion: USG analysis is to provide a second opinion and can also strengthen the job size analysis with the job reference level.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"76 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82408714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Scholarly Examination of Tax Compliance: A Bibliometric Analysis (1960-2021)","authors":"F. Fauzan, M. Ibrahim, A. Jahja","doi":"10.22146/jieb.v37i1.2718","DOIUrl":"https://doi.org/10.22146/jieb.v37i1.2718","url":null,"abstract":"Introduction/Main Objectives: Tax compliance plays a significant role in ensuring government has revenue for its expenditure. Thus, tax compliance should be understood thoroughly. Background Problems: Since tax compliance is important, a scholarly examination with bibliometric analysis is needed. This study aims to map past and current research on tax compliance to direct future research. Novelty: To the best of our knowledge, no article discusses tax compliance using bibliometric analysis. Research Methods: This study uses the bibliometric method to observe 715 documents on tax compliance research publications from the Scopus database from 1960-2021. Metadata was analyzed using Microsoft Excel for frequency analysis, VOSviewer for data visualization, and Harzing's Publish or Perish for citation metrics. Finding/Results: The number of publications on tax compliance has grown significantly. Most articles were published in journals and conferences, mainly in English. The most widely cited articles and most co-authors come from the United States, Australia, Europe, Malaysia, and Indonesia. This study identifies the widely discussed themes and possible themes for future research. Conclusion: Tax compliance studies are increasing in number and are being carried out with a multidisciplinary approach by authors from various countries. This paper also proposes some future avenues of tax compliance research. In future research, it is recommended to extend the use of databases and to include more fields in search queries.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"26 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77939710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Trusting Beliefs of Users and the Intention to Continue Making Purchases via Social Commerce","authors":"G. Susilo, Utpala Rani, S. Khotijah","doi":"10.22146/jieb.v37i1.1402","DOIUrl":"https://doi.org/10.22146/jieb.v37i1.1402","url":null,"abstract":"Introduction/Main Objectives: This study aims to examine the influence of a user’s trusting beliefs on the intention to continue making purchases via social commerce. Indonesia is ranked 4th in the world for the most active online users of social media. Thus, it is necessary to investigate the influence of those variables. Background Problems: Social networks contribute to online trading by providing platforms for social commerce. The author chose the trusting beliefs concept and linked it to online users’ trust in social commerce. Novelty: Trusting beliefs variables are fundamental in shaping online users’ behaviors, but no prior research has investigated the effect of trusting beliefs on the intention to make purchases via social commerce. This study presents new research that provides a comprehensive model related to social commerce. Research Methods: This research uses purposive sampling of people who are required to have social media accounts and who have made purchases via social commerce at least once with data taken from surveys. The research uses Structural Equation Modelling (SEM). Finding/Results: This study proves that all trusting beliefs variables are supported and significant, but there is one hypothesis that is not supported (H4). Empirically, this indicates that active users are not necessarily engaging in online shopping using their social media. Conclusion: This study provides insights into the potential role of trusting beliefs driving continuing purchases in the context of social commerce research. We suggest that the sellers need to give customers-to-be more frequent and wider product reviews information so they can get results in terms of stronger product image and motivate them to make purchases via social commerce.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89776295","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Property Price, Capital Inflows, and Financial System Stability in ASEAN-5 Economies: A Simultaneous Analysis","authors":"Sonia Anggun Andini, T. Falianty","doi":"10.22146/jieb.v37i1.1406","DOIUrl":"https://doi.org/10.22146/jieb.v37i1.1406","url":null,"abstract":"Introduction/Main Objectives: This study aims to estimate the impact of capital inflows on property prices and financial system stability (FSS) in ASEAN-5 and the simultaneous relationship between the two dependent variables. During the observation period of this study, there were large capital inflows to ASEAN 5 countries after the 2008-2009 financial crisis; on the other hand property prices showed an increase in that period. Background Problems: This study indicates the simul­taneous relationship between two dependent variables. In fact, using only a single equation for variables that have a simultaneous relationship can cause endogeneity problems, so the results obtained become unreliable/ biased. Novelty: The novelty of our research is we fill a gap in the previous studies by examining the relationship of property prices and financial system stability with the simultaneous method so as to solve the endogeneity problem that exists. Research Methods: We use the 2SLS simultaneous panel model to solve endogeneity problems. Finding/ Results: The results show that the massive capital inflows to ASEAN-5 countries caused a significant increase in property prices. Conclusion: This study confirms that property prices and financial system stability have simultaneous relationships. On the one hand, the impact of property prices on the financial system stability is positive and significant. On the other hand, testing the effect of the financial system stability on property prices does not show significant results.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"35 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73339019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Water Rights Dilemma in Indonesia: Coase Theorem and Game Theory Approach","authors":"Andar Ristabet Hesda","doi":"10.22146/jieb.v37i1.1400","DOIUrl":"https://doi.org/10.22146/jieb.v37i1.1400","url":null,"abstract":"Introduction/Main Objectives: This paper aims to explain Indonesia's water rights dilemma and propose a potential solution to solve it using the Coasian and game theory approaches. Background Problems: Developing a mechanism that supports the citizens (and farmers) in the area surrounding water plants, maintains firm productivity, builds social cohesion, and promotes environmental improvement remains an ongoing concern. Novelty: This study utilizes the Coasian and game theory approaches to solve Indonesia's water rights dilemma. Research Methods: This research employs a game theory simulation representing the Coasian strategy in handling externalities. Findings/Results: The implementation of Coasian bargaining might be promising in solving the water rights dilemma in Indonesia. The necessary condition is high farmer commitment during the bargaining process, and the sufficient condition is a reduction of transaction costs. Conclusion: The strategies in lowering transaction costs can be accomplished by establishing an independent multidisciplinary research team, involving a government element as a mediatory body, and creating an advisory firm. This research team would aim to close the gap in institutional deficiency. The government would have a significant role in reducing the transaction cost by defining, enforcing, and transferring property rights. Lastly, the advisory firm would help to focus all business activities, operationalize agreements, and conduct monitoring.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"35 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80862106","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}