Journal of Indonesian Economy and Business最新文献

{"title":"The Effect of Incentives and Leadership Styles on Creative Performance","authors":"Sariyatul Ilyana, M. Sholihin","doi":"10.22146/JIEB.59893","DOIUrl":"https://doi.org/10.22146/JIEB.59893","url":null,"abstract":"Introduction/Main Objectives: This study investigates whether the type of incentives offered and leadership styles interact to affect creative performance. Background Problems: Creativity is highly needed by companies to survive in a volatile business environment. Prior research found that management control systems and the leadership style were able to stimulate creativity. It is still unclear which type of incentives and leadership styles are able to stimulate creativity. Therefore, this research proposes a research question, what kind of management control systems and leadership style can improve creative performance? Novelty: This research focuses on comparing monetary and non-monetary incentives, based on competition, to produce the most creative ideas, but empirical studies into the context of creativity are still limited. Furthermore, this study investigates two different leadership styles and it sheds light on the fact that the leadership styles needed in a creative environment differ from those styles used in a non-creative environment. Research Methods: This study was conducted using a 2x2 between subject experimental design with two incentive treatments (tournament and recognition) and two leadership style treatments (directive and empowering). Finding/Results: Consistent with Lourenco (2016), monetary incentives (including tournaments) and non-monetary incentives (recognition) are substitutive. Furthermore, the empowering leadership style leads to a greater creative performance than the directive style does. The results indicate that, in the condition of a tournament incentive, empowering leadership is able to produce a higher creative performance than directive leadership can. Conclusion: There is no significantly difference between the effect of monetary incentives and non-monetary incentives on creative performance. This study’s result is consistent with the situational leadership theory, certain types of leadership are appropriate for certain environmental conditions. For improved creative performance, employees need to be empowered because they need the authority and freedom to develop ideas. This study provides knowledge about the impact of incentives and leadership styles on creative performance. Furthermore, this study provides practical knowledge for companies on how to improve creativity in the work environment by using certain incentives and leadership styles.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"60 1","pages":"14-30"},"PeriodicalIF":0.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79584583","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":"Impact of Information Quality on Customer Perceived Value, Experience Quality, and Customer Satisfaction from Using GoFood Aplication","authors":"T. S. Patma, Nilawati Fienaningsih, Karisma Sri Rahayu, I. G. Artatanaya","doi":"10.22146/JIEB.59810","DOIUrl":"https://doi.org/10.22146/JIEB.59810","url":null,"abstract":"Introduction/Main Objectives: The existence of technological advances in online transportation provides benefits to the community, and especially for the culinary industry; consumers no longer have to go to restaurants to buy food; it can be ordered through the Gojek application. The Gojek application makes it easy for people to buy food online. Various items of information about the restaurant are provided by Gojek’s online transportation service application. Background Problems: The government's appeal regarding COVID-19 requires people to stay at home, to support social distancing. Many activities must now be carried out at home, including eating. Along with the technological developments, people do not need to worry about staying at home because everything can be done from the home, with the GoFood application's support. Novelty: This study aims to determine and prove the effect of information quality on experience quality and customer perceived value, as well as satisfaction, from using the GoFood application in Malang City. This research is an update of the information gathered previously during the pandemic, which can be used as a reference for determining marketing strategies. Research Methods: This type of research is explanatory research through a quantitative approach, by conducting a direct survey of the application’s users, by using an online questionnaire. The research sample consists of 380 respondents. The sampling technique of this study was purposive sampling with the criteria that the Gojek application’s users had made purchases the application at least one times, and were aged 18 years and over, so the perceptions given would be quite clear and independent. Finding/Results: The results show that information quality has a positive and significant effect on experience quality, customer perceived value and customer satisfaction; experience quality has a positive and significant effect on customer perceived value; and customer perceived value has a positive and significant effect on customer satisfaction. Conclusion: This study reveals that the quality of the experience has a positive but insignificant effect on customer satisfaction. The result is a new finding from this study because there are differences in the previous studies' relationships between the variables. This study contributes that the stay-at-home appeal could increase the use of online applications to carry out activities.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"43 1","pages":"51-61"},"PeriodicalIF":0.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88449980","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 Kano Model: How the Pandemic Influences Customer Satisfaction with Digital Wallet Services in Indonesia","authors":"Vanesa Hana Budiarani, Rahmat Maulidan, Diki Putra Setianto, Ipuk Widayanti","doi":"10.22146/JIEB.59879","DOIUrl":"https://doi.org/10.22146/JIEB.59879","url":null,"abstract":"Introduction/Main Objectives: This study aims to evaluate the effectiveness of digital wallets service qualities using Kano Model. Understanding customer needs and satisfaction is crucial in developing products. Background Problems: In the “new normal” era, payment method is predicted to shift to digital wallets. For quality improvement, digital wallet companies should understand customer needs and satisfaction. This study used the Kano model to analyze customer needs and satisfaction in OVO and ShopeePay, two digital wallets widely used for online shopping transactions during COVID19. Novelty: Although studies into the Kano model implementation towards e-commerce exist, there are no specific studies on the model implementation concerning digital wallet payments amid COVID-19. The Kano model is significant in understanding which software products generate high customer satisfaction, which will give a greater influence, as well as necessary attributes for the customers. Research Methods: This study employed the Kano model as one of the most relevant method to measure customer satisfaction by measured of each attribute’s quality. Finding/Results: Most features of OVO and ShopeePay are categorized into the “must be” and “one dimensional” category. The satisfaction map results indicate that most items placed in the “indifferent” quadrant denote the unfulfilled customer expectations. Conclusion: OVO and ShopeePay should improve the items placed in the “indifferent” quadrant first. This study contributes empirically and theoretically by emphasizing the Kano model’s utility for digital wallet services and providing new insights for digital wallet companies and the government on Indonesians’ usage of digital wallets in the “new normal”.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"21 1","pages":"61-82"},"PeriodicalIF":0.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83280152","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 Google Search Volume Index on Underpriced IPOs and Divergence of Opinions","authors":"Megen Chivianti, Sukmawati Sukamulja","doi":"10.22146/JIEB.55759","DOIUrl":"https://doi.org/10.22146/JIEB.55759","url":null,"abstract":"Introduction/Main Objectives: The purpose of this paper is to examine the effect of the Google Search Volume Index (GSVI), as the moderating variable, on underpriced IPOs, as the independent variable, on the divergence of opinions, as the dependent variable. Background Problems: A divergence of opinions may arise when an error occurs while estimating the right price due to the unavailability of information or only having limited information. Before a company conducts an IPO, potential investors will look for information about the company and each one may interpret the data differently, which results in disagreements between the investors. The investors’ attention is a disagreement mechanism. Research Methods: This study employs the regression analysis of moderation variables with an absolute difference method (ADM) on a sample of 79 Indonesian companies that conducted an IPO between 2015 and 2019. Finding/Results: This study discovered a negative relationship between the initial return and market-adjusted turnover without an interaction effect in the model. The investors’ attention reduces disagreements about underpriced IPOs in the aftermarket. Conclusion: The result of this study found that investors’ attention reduces disagreements about underpriced IPOs proxied by the initial return, because investors closely monitor other information available on the Internet.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"3 1","pages":"1-13"},"PeriodicalIF":0.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91140352","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":"Digital Receipts of Online Transactions in the Reconciliation Process and the Preparation of Financial Reports","authors":"F. Kosadi, Wajib Ginting, Vina Merliana","doi":"10.22146/JIEB.59884","DOIUrl":"https://doi.org/10.22146/JIEB.59884","url":null,"abstract":"Introduction/Main Objectives: This research seeks to analyze the use of digital receipts and multi-platform e-commerces’ data integration and the influence they have on the process of reconciliation and the preparation of financial reports by micro, small, and medium-sized enterprises (MSMEs). Background Problems: The use of multi-platform online transactions requires the validation and conversion of the data, which can be an issue during the reconciliation process and the preparation of financial reports. The issue of the data’s integration is due to differences in the interfaces used for the multi-platform transactions and the MSMEs internal abilities. Novelty: The integration and treatment of online transactions via multi-platforms should an internal records or database for the MSMEs, the reconciliation process and preparing financial reports. Research Methods: This research uses a quantitative method with partial least squares structural equation modeling (PLS-SEM) analysis and descriptive analysis to reveal the reconciliation process and the conditions under which financial reports are prepared. Finding/Results: The problems of integrating data from various platforms into internal reports causes duplication of the internal reporting and a long reporting process and the chance of errors. The digital receipt is treated as proof of a manual transaction. Records’ duplication is a technical issue that causes delays in the processing time and reconciliation. None of the MSMEs have a machine-to-machine based (automized) reconciliation process. Conclusion : Transaction receipts from all the platforms affect the transactions’ recording, the reconciliation process, and the preparation of financial reports. Digital receipts provide high levels of confidence because of their completeness, accuracy, easiness, efficiency, simplicity, and suitability for use by MSMEs. The adoption of online sales and payments by MSMEs is highly effective, yet this has not been followed-up with the data’s integration into the reconciliation and accounting process for preparing financial reports.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"129 1","pages":"31-50"},"PeriodicalIF":0.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80350388","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":"Indonesian Demand for Online Shopping: Revisited","authors":"Syarifudin Yahya, Catur Sugiyanto","doi":"10.22146/JIEB.55358","DOIUrl":"https://doi.org/10.22146/JIEB.55358","url":null,"abstract":"Introduction/Main Objectives : This study aims to analyze the factors that influence online shopping. Data are aggregated at the national, island, and regional levels. The regions are categorized based on their level of demand for online shopping. Background Problems : The rapid development of information and communications technology contributes to the transformation of the digital economy. By using 281,185 internet users from the National Households Survey (Survei Sosial Ekonomi-Susenas) 2017 data, we found that the percentage of online shopping in Indonesia is 7.59%. Online shopping is concentrated on the island of Java, especially in the Greater Jakarta area (Jakarta, Bogor, Depok, Tangerang, and Bekasi). Novelty : This study analyzes online shopping from the point of view of economic development studies, especially related to the development of information technology and the digital economy. Research Methods : We used a binary logistic regression analysis to assess the effect of demographic, socio-economic, and spatial factors on an individual’s decision to shop online. Finding/Results : The results indicate that individuals who have a greater tendency to shop online are those who have a high income, are women, can access the internet using mobile phones, they are the spouses of the heads of households, are 25 to30 years old, live in urban areas, have graduated from college (especially with a diploma), and work in the tertiary sector. The higher that the share of online shopping is in an area, the more intense the influence of individual characteristics will be on the tendency to shop online, according to the demographic and socio-economic factors, while the spatial factors will fade away. Conclusion : Income, gender, internet access, and the shopper’s position in the household are factors that significantly influence individuals to shop online.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"32 10","pages":"188-203"},"PeriodicalIF":0.0,"publicationDate":"2020-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72372126","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":"Day-of-the-Week Effect and Investors’ Psychological Mood Testing in a Highly Mispriced Capital Market","authors":"Rizky Luxianto, Usman Arief, M. B. Prasetyo","doi":"10.22146/JIEB.54377","DOIUrl":"https://doi.org/10.22146/JIEB.54377","url":null,"abstract":"Research Aims: This research examines investors’ psychological moods which cause day-of-the-week anomalies in highly mispriced stock markets. Design/methodology/approach: We use a sample from the Indonesian capital market as, in the Asian region, this country is considered to have a highly mispriced capital market. We decompose the stock price index in Indonesia into speculative, less speculative, and non-speculative indexes. We employ the mean and variance regressions to control the heteroscedasticity and serial correlation. Novelties: Our novelties are two fold. We postulate a method to decompose stock price indexes in Indonesia (the JKSE, LQ 45, and Kompas 100) into speculative, less speculative, and non-speculative indexes. Secondly, we estimate the mean and variance levels simultaneously to get a robust estimation result of the anomaly. Research Findings: We empirically find that the behavior mood hypothesis is supported only during normal periods, when investors tend to be irrational and use their good mood to trade on speculative stocks on a Wednesday and sell them on Monday. In other periods, rationality and psychological effects play a role with Indonesian investors, when their mood is good they are more active in trading less speculative stocks, to avoid higher risks and earn higher returns from those less speculative and non-speculative stocks.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"13 1","pages":"257-269"},"PeriodicalIF":0.0,"publicationDate":"2020-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90399343","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":"Blue-Collar Workers Entrepreneurial Intentions and The Extended Theory of Reasoned Action: Incorporating SEM and Person-Item Map Analysis","authors":"Hermansyah Andi Wibowo, N. Indarti","doi":"10.22146/JIEB.52046","DOIUrl":"https://doi.org/10.22146/JIEB.52046","url":null,"abstract":"Introduction/Main Objectives: Blue-collar workers face major threats related to the development and application of Industry 4.0. Unfortunately, research on how they deal with this situation is scarce in the behavioral science literature. In this study, we attempt to fill this gap by emphasizing a methodological aspect of combining structural equation modeling (SEM) and person-item map analysis to the extended model of the theory of reasoned action. Novelty and Methods: We offer the notion of combining SEM and Rasch model analysis to explain the extended of theory of reasoned action. The respondents were blue-collar workers from Indonesia who have not yet started a business. Finding/Results: In line with our goal of applying intersubjective certification to the extended theory of reasoned action (TRA) model in the context of blue-collar workers, our results suggest that religiosity affects entrepreneurial intentions, both directly and indirectly, through attitude. The subjective norms have also been shown to influence the intention of blue-collar workers to become entrepreneurs. The extended TRA model has been proven empirically to have good predictive power, with a total effect of 83%. Conclusion: Regarding the sample issue, the person-item map is excellent for explaining our SEM-based findings. The idea of combining the Rasch model property, which is a persons-items map, requires more empirical support to promote its ability to illuminate SEM-based research explanations.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"36 1","pages":"204-235"},"PeriodicalIF":0.0,"publicationDate":"2020-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86920825","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 Levers of Control and Leadership Style on Creativity","authors":"M. Adi, Aegisia Sukmawati","doi":"10.22146/JIEB.55466","DOIUrl":"https://doi.org/10.22146/JIEB.55466","url":null,"abstract":"Introduction: This research aims to investigate how leadership assists the levers of control (LOC) to influence employees’ creativity. Background problem: Managing a company is challenging due to the numerous issues faced, including those relating to the employees’ creati­vity. Prior studies showed different results concerning how company controls constrained or enhanced the employees’ creativity. Previous studies explained that incentives can influence the employees’ creativity, but only temporarily. However, organizations require creativity continuously in order to sustain themselves. In response to this issue, it is essential to investigate other determinants that encourage employees’ creativity, and how the process is relevant to each organization’s core values. This study examines this through companies control systems and leadership aspects. Novelty: Our study attempts to complement previous studies and answer Spekle’s (2017) call. This study offers transformational leadership to strengthen employees’ creativity, aligned through the LOC. Research Methods: The data were collected via an online survey. The questionnaires were sent to startup companies’ employees who had worked in the creative divisions of those companies for a minimum of six months. There were 109 responses that we processed. This study used SEM-PLS to analyze the data. Finding/ Result: The LOC positively influenced employee creativity. The more leaders behaved as transformational leader, it strengthened LOC to influence employees’ creativity. Conclusion: This study shows that the dimensions used to establish the LOC should be integrated, to align the employees’ creative ideas for new methods of working. Furthermore, this study supports the prior research into the self-determination theory and answers Spekle et al (2017), that leadership is required to influence the employees. Particularly, companies should appoint appropriate leaders to encourage their employees’ creativity. Transformational leaders should be considered to be an option.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"32 1","pages":"236-256"},"PeriodicalIF":0.0,"publicationDate":"2020-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79289966","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":"Does Institutional Ownership and Bank Monitoring Affect Agency Conflicts? Evidence from an Emerging Market","authors":"Bagus Dwi Ariyono, B. Setiyono","doi":"10.22146/JIEB.53110","DOIUrl":"https://doi.org/10.22146/JIEB.53110","url":null,"abstract":"Introduction/Main Objectives: This study examines the effect of institutional ownership, proxied by government and private ownership, and bank monitoring on agency conflicts. Background Problems: The previous literature focused on agency conflicts, particularly those between managers and shareholders in developed markets, with much less evidence being presented from emerging ones. Novelty: We consider the role of creditors (the banks) in mitigating agency conflicts, and the managers’ irresponsible behavior, which in previous studies has been largely under-elaborated. Research Methods: Using 1,525 observations of 305 non-financial companies that were listed in the 2011-2015 period, we employ the generalized least squares method to deal with potential econometric concern such as autocorrelation and heteroscedasticity. Finding/Results: We find that institutional ownership and bank monitoring, proxied by the number of banks and the share of their loans, are negatively related to agency conflicts. Conclusion: Banks and institutional ownership lead to lower agency conflicts. However, one should mitigate free-rider problems emanated from these relationships.","PeriodicalId":31597,"journal":{"name":"Journal of Indonesian Economy and Business","volume":"35 1","pages":"171-187"},"PeriodicalIF":0.0,"publicationDate":"2020-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88728428","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}