Gadjah Mada international journal of business最新文献

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Does a deposit insurance scheme induce moral hazard among bankers? Evidence from an experiment with bankers 存款保险计划是否会在银行家中引发道德风险?来自银行家实验的证据
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-12-30 DOI: 10.22146/GAMAIJB.38873
Gumilang Aryo Sahadewo, B. M. Purwanto, Rimawan Pradiptyo
{"title":"Does a deposit insurance scheme induce moral hazard among bankers? Evidence from an experiment with bankers","authors":"Gumilang Aryo Sahadewo, B. M. Purwanto, Rimawan Pradiptyo","doi":"10.22146/GAMAIJB.38873","DOIUrl":"https://doi.org/10.22146/GAMAIJB.38873","url":null,"abstract":"The implementation of a deposit insurance scheme entails a trade off. On one hand, as shown in theoretical and empirical studies, a deposit insurance scheme reduces the likelihood of a bank run. On the other hand, a deposit insurance scheme induces moral hazard among bankers that may lead to bank failures. We rigorously test the effect of different deposit coverage limit and the implementation of a differential premium treatment on bankers’ behaviors in the deposit and credit market. We do so by designing a laboratory experiment that involves real bankers as participants. We find that the coverage limit treatments do not have any effect on deposit rate offer. Nevertheless, we find that a high deposit coverage limit induces smaller banks to have a higher share of risky projects. This is evidence of moral hazard particularly among small banks.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46612816","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}
引用次数: 3
Gold VS Bond: What Is the Safe Haven for the Indonesian and Malaysian Capital Market? 黄金与债券:印尼和马来西亚资本市场的避风港是什么?
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-12-30 DOI: 10.22146/GAMAIJB.27775
R. Robiyanto
{"title":"Gold VS Bond: What Is the Safe Haven for the Indonesian and Malaysian Capital Market?","authors":"R. Robiyanto","doi":"10.22146/GAMAIJB.27775","DOIUrl":"https://doi.org/10.22146/GAMAIJB.27775","url":null,"abstract":"This study scrutinizes the potency of gold and bonds as safe haven assets for the Indonesian and Malaysian capital markets, because some previous studies have been undertaken in established market settings. The research period for this study was from June 2008 to September 2016. The quantile regression technique was used to analyze the data. The results of this study indicated that gold did not have a role as a safe haven for the Indonesian capital market, but did have a role as the safe haven for the Malaysian capital market. This study also found that Indonesian government bonds, Malaysian government bonds, and Malaysian corporate bonds could not act as safe haven assets. In contrast, corporate bonds in Indonesia had the potency to perform the function of a safe haven for stocks on the Indonesian Stock Exchange. ","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46779607","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}
引用次数: 19
MOTIVATIONAL FACTORS OF THE COLLABORATIVE CONSUMPTION IN THE ERA OF SHARING ECONOMY 共享经济时代协同消费的动机因素
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-12-30 DOI: 10.22146/GAMAIJB.27552
I. Mayasari, Handrix Chrisharyanto
{"title":"MOTIVATIONAL FACTORS OF THE COLLABORATIVE CONSUMPTION IN THE ERA OF SHARING ECONOMY","authors":"I. Mayasari, Handrix Chrisharyanto","doi":"10.22146/GAMAIJB.27552","DOIUrl":"https://doi.org/10.22146/GAMAIJB.27552","url":null,"abstract":"The aim of this study was to analyze the motivational factors of collaborative consumption in the era of the sharing economy, as a part of consumers’ behavior by online media platforms. Collaborative consumption is about people’s willingness to share and to collaborate to meet certain needs. The study used the qualitative method with interviews for the data’s collection. The context of the study was using consumers who had experience of using Airbnb, Go-Jek, and selling their product via online media. Twenty-four respondents were obtained for the interviews. The length of each interview was approximately 1.5 hours. The analysis of this shifting consumption across its different facets provided an analysis of the motivational aspect of sharing resources, and the change in consumer consumption patterns. The motivational research examined the underlying reasons for consumers to act, and to undertake collaborative consumption; home sharing and selling second-hand goods were analyzed from the perspectives of their economic aspects, utility reasons, social orientation, emotional aspects, ecological aspects and personal values.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45354500","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}
引用次数: 18
Financial Flexibility as an Investment Efficiency Factor in Asian Companies 财务灵活性作为亚洲公司投资效率因素
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-08-30 DOI: 10.22146/GAMAIJB.26239
V. Cherkasova, E. Kuzmin
{"title":"Financial Flexibility as an Investment Efficiency Factor in Asian Companies","authors":"V. Cherkasova, E. Kuzmin","doi":"10.22146/GAMAIJB.26239","DOIUrl":"https://doi.org/10.22146/GAMAIJB.26239","url":null,"abstract":"This study explores the impact of a company’s financial flexibility on the effectiveness of its investments.The number of companies that have financial flexibility was calculated with the application of thespare debt capacity method. The research identifies the impact of financial flexibility on investment activity and on the level of suboptimal investments. The data from 1,736 companies in theAsian region, during the 2005-2015time period, are presented. The Asian region has unique institutional, economic and commercial environments that present a great basis for this paper. The results of the research reveal that financially flexible companies spend more on their investment expenditure and conduct more effective investment policiesby reducing the level of over- and underinvestment. Financial flexibility helps companies to make effective investments during a crisis period, but the difference in the flexibility between developed and developing countries and between large and small companies was not observed.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42803267","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}
引用次数: 17
Modeling of Stochastic Volatility to Validate IDR Anchor Currency 印尼卢比锚定货币的随机波动模型验证
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-08-30 DOI: 10.22146/GAMAIJB.26006
D. Nugroho, Tundjung Mahatma, Yulius Pratomo
{"title":"Modeling of Stochastic Volatility to Validate IDR Anchor Currency","authors":"D. Nugroho, Tundjung Mahatma, Yulius Pratomo","doi":"10.22146/GAMAIJB.26006","DOIUrl":"https://doi.org/10.22146/GAMAIJB.26006","url":null,"abstract":"This study aims to assess the performance of stochastic volatility models for their estimation of foreign exchange rate returns' volatility using daily data from Bank Indonesia (BI). The model is then applied to validate the anchor currency of Indonesian rupiah (IDR). Two stylized facts are incorporated into the models: A correlation between the previous returns and their conditional variance, and return errors following four different error distributions namely Normal, Student-t, non-central Student-t, and generalized hyperbolic skew Student-t. The analysis is based on the application of daily returns data from nine foreign currency selling rates to IDR from 2010 to 2015, including the AUD, CHF, CNY, EUR, GBP, JPY, MYR, SGD, and USD. The main results are: (1) Mixed evidence of positive and negative relationships between the return and its variance were found, especially significant correlations being found for the IDR/AUD, IDR/CHF, IDR/JPY, IDR/SGD, and IDR/USD returns series; (2) the model with the generalized hyperbolic skew Student's t-distribution specification for the returns error provides the best performance; and (3) anchoring the IDR to established hard currencies is more appropriate than anchoring it to other currencies.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48837853","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}
引用次数: 9
CUSTOMERS’ PERCEIVED FAIRNESS; FAST FOOD CHAIN RESTAURANTS IN INDONESIA 顾客公平感;印尼的快餐连锁店
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-08-30 DOI: 10.22146/gamaijb.30136
Hety Budiyanti, Shine Pintor Siolemba Patiro
{"title":"CUSTOMERS’ PERCEIVED FAIRNESS; FAST FOOD CHAIN RESTAURANTS IN INDONESIA","authors":"Hety Budiyanti, Shine Pintor Siolemba Patiro","doi":"10.22146/gamaijb.30136","DOIUrl":"https://doi.org/10.22146/gamaijb.30136","url":null,"abstract":"This study aims to investigate interrelationships among perceived service fairness, emotions, and behavioral intentions in a fast food chain restaurant context. we use terms that are commonly use on the study of fairness or justice perception. This study uses purposive sampling and the survey method to generate our sample which consists of 800 respondents from big cities in Indonesia, namely: Jakarta, Semarang, Surabaya, Medan, and Makassar. The data are analyzed using Structural Equation Modeling (SEM). The results show different roles for each fairness perception in relation to peoples’ emotions and behavioral intentions, based on the Mehrabian-Russel model. Three fairness variables (price fairness, outcome fairness and interactional fairness) have positive and significant effects on customers’ positive emotions, while, procedural fairness does not influence the formation of a positive emotion. Furthermore, a positive emotion has a positive influence on a customer’s behavioral intention. Data collected in this study are limited to the context of the restaurant industry, therefore, precaution must be taken when generalizing these results to other industries. The results of this study can serve as guidelines for managers in the restaurant industry to develop effective and efficient strategies for ensuring their services’ perceived fairness and its impact on both customers’ retention rates and the companies’ financial gains.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":"29 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138541645","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}
引用次数: 10
International Equity Placement Strategic Alliance: Exploring Stakeholder Support 国际股权配售战略联盟:利益相关者支持探索
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-08-30 DOI: 10.22146/gamaijb.22291
Harimukti Wandebori
{"title":"International Equity Placement Strategic Alliance: Exploring Stakeholder Support","authors":"Harimukti Wandebori","doi":"10.22146/gamaijb.22291","DOIUrl":"https://doi.org/10.22146/gamaijb.22291","url":null,"abstract":"An International Equity Placement Strategic Alliance (IEPSA) is a strategic alliance of shared ownership between partners of different nationalities. In 1998, the Indonesian government initiated the IEPSA to privatize its State-Owned Enterprises (SOE). Problems arose due to the lack of stakeholders’ support, although it was able to improve the performance of the SOE. Variables within the stakeholders’ support and the relationship among stakeholders were the keys to bring the IEPSA into prevalence; they comprised of its transparency, share price, the degree of the internal relationship, fulfilment of the budget deficit, company restructuring, unprecedented moment, restricted shares in the market, the existence of the floor price, and the plan for the IEPSA. The research reveals that the dimensions of the share price and the degree of the internal relations are the required bases for the government to formulate and implement a strategy to secure the stakeholders’ support (involvement) using the matrix of a general strategy to secure their support.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":"55 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138541652","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}
引用次数: 3
Mediation Effects of Subjective Norms on the Relationship between Career Advancement and Job Characteristics and Knowledge Sharing Behavior among the Tanzanian Healthcare Professionals 坦桑尼亚卫生保健专业人员职业发展与工作特征、知识共享行为关系的主观规范中介作用
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-08-30 DOI: 10.22146/GAMAIJB.23740
Mohamedi Abbasi Balozi, Siti Zubaidah Othman, M. Isa
{"title":"Mediation Effects of Subjective Norms on the Relationship between Career Advancement and Job Characteristics and Knowledge Sharing Behavior among the Tanzanian Healthcare Professionals","authors":"Mohamedi Abbasi Balozi, Siti Zubaidah Othman, M. Isa","doi":"10.22146/GAMAIJB.23740","DOIUrl":"https://doi.org/10.22146/GAMAIJB.23740","url":null,"abstract":"This paper intends to examine the mediating effects of subjective norms on the relationship between career advancement and job characteristics and knowledge sharing behavior. Based on the social exchange theory, we establish a research model which contains job and organizational factors. We distributed 650 questionnaires, but only 439 questionnaires were returned and usable. The hypotheses were tested using Partial Least Squares Structural Equation Modeling (PLS-SEM). The study examines knowledge sharing behavior and its determinants. The results reveal that career advancement, job characteristics and subjective norms are positively and significantly related to knowledge sharing behavior. The findings depict that subjective norms have a partial positive and significant mediating effect on knowledge sharing behavior. This paper intends to identify knowledge sharing behavior and its determinants in Tanzanian healthcare institutions and among healthcare professionals. This is because there are only a few such studies in the context of Tanzania; therefore, this study offers a theoretical foundation for future studies and practical implications for administrators and practitioners.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46125151","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}
引用次数: 7
GAINS FROM INTERNATIONAL DIVERSIFICATION AND DOMESTIC PORTFOLIO IN EMERGING STOCKS MARKETS: PHILIPPINE AND INDONESIAN PERSPECTIVES 新兴股票市场的国际多元化收益和国内投资组合:菲律宾和印尼视角
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-08-08 DOI: 10.22146/GAMAIJB.37900
E. Tandelilin
{"title":"GAINS FROM INTERNATIONAL DIVERSIFICATION AND DOMESTIC PORTFOLIO IN EMERGING STOCKS MARKETS: PHILIPPINE AND INDONESIAN PERSPECTIVES","authors":"E. Tandelilin","doi":"10.22146/GAMAIJB.37900","DOIUrl":"https://doi.org/10.22146/GAMAIJB.37900","url":null,"abstract":"The study was organized into two major concerns: first, identifying the gains from international diversification in emerging stock markets from the Philippine and the Indonesian perspectives and determining which perspective yields the greater gains; and second, determining how many securities must be included to obtain an optimal investment portfolio from the Philippine and Indonesia perspectives.The empirical results indicate that there are gains from international diversification, both from the Philippine and Indonesian perspectives, in two to eight emerging stock markets. Generally the gains are greater from the Indonesian perspective than the Philippine perspective in all countrycombinations.Further, this study found that the number of stocks needed to form an optimum domestic investment portfolio was bigger for the Indonesian investor‘s perspective (at 15 stocks) than for the Filipino investor (14).","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41679965","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}
引用次数: 2
THE PREDICTIVE ABILITY OF EARNINGS VERSUS CASH FLOW DATA TO PREDICT FUTURE CASH FLOWS: A FIRM-SPECIFIC ANALYSIS 收益与现金流数据对未来现金流的预测能力:一项针对企业的分析
IF 0.7
Gadjah Mada international journal of business Pub Date : 2018-08-08 DOI: 10.22146/GAMAIJB.37910
S. Supriyadi
{"title":"THE PREDICTIVE ABILITY OF EARNINGS VERSUS CASH FLOW DATA TO PREDICT FUTURE CASH FLOWS: A FIRM-SPECIFIC ANALYSIS","authors":"S. Supriyadi","doi":"10.22146/GAMAIJB.37910","DOIUrl":"https://doi.org/10.22146/GAMAIJB.37910","url":null,"abstract":"This study evaluated the value-relevance of accounting information (earnings and cash flows) in Indonesia to predict a firm’s future operating cash flows. The predictive usefulness of earnings and cash flows in association with future cash flows is of interest for three reasons. They include providing empirical evidence on the relevant accounting information to assess a firm’s future cash flows, information about the behavior and properties of Indonesian accounting information, and evidence of – or at least providing a basis for evaluating–the validity of the IndonesianAccounting Standards Committee (KPSAK) assertion on the usefulness of accounting information to assess future cash flows.The study evaluated three cash flow prediction models that employed cash flow, earnings, and a combination of earnings-cash flow variables. The models were applied on a firm-specific data set. The data used in this study were semi-annual data for the 61 sample firms (manufacturing firms)listed in the Jakarta Stock Exchange (JSX) spanning the years 1990-1997. The results of this study supported the proposed hypothesis that cash flow data provided better information to assess a firm’s future cash flows than earnings data. Since this study employed manufacturing firms only, future research is necessary to evaluate the robustness of the results to otherpopulations of firms and/or by using an alternative deflator of earnings and cash flows, such as consumer price index (CPI) or market value of the firms. Further extensions of this study include additional refinements of the prediction models on an industry-specific basis and disaggregating cash flow variables into operating, investing, and financing components in order to measure the value-relevance of the statement of cash flows.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44873630","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}
引用次数: 1
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