Gadjah Mada International Journal of Business
Gadjah Mada International Journal of Business (GamaIJB) is a peer-reviewed journal published three times a year (January-April, May-August, and September-December) by Master of Management Program, Faculty of Economics and Business, Universitas Gadjah Mada. GamaIJB is intended to be the journal for publishing articles reporting the results of research on business, especially in the context of emerging economies.
The GamaIJB invites manuscripts in the various topics include, but not limited to, functional areas of management, accounting, international business, entrepreneurship, business economics, risk management, knowledge management, information systems, ethics, and sustainability.
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Factors Affecting Choice in A Multi-Stage Model: The Influence of Saliency and Similarity on Retrieval Set and the Implication of Context Effect on Consideration Set
Santosa, Eric
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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While it is considered a new paradigm in consumer research, the multi-stage model of consumer decision-making remains unclear as to whether brands are easily retrieved. Likewise, the process of consideration, after particular brands are successfully retrieved, is still in question. This study purports to investigate the effects of saliency and similarity on the ease of retrieval. In addition, referring to some studies of context effect, the effects of attraction, compromise, and assimilation are examined to observe whether they contribute to consideration. A within-subject design is employed in this study. Previously, three preliminary studies are arranged to determine the dominants, new entrants, attributes, and other criteria nominated in the experimental study. The results turn out to be supporting the hypotheses.
The Pro-poor Policy of Microfinance in Indonesia
Nugroho, Agus Eko
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This paper discusses and proposes the policy issues associated with the development of microfinance industry in Indonesia. Despite its capability of financing small-scale businesses, the development of the microfinance industry is far behind that of commercial banks. The policy focus on developing sound financial practices of microbanks has ignored the role of semi-formal and informal microfinance institutions (MFIs) in serving poor people. Compliance with the sound banking practices could inevitably drive microbanks away from serving the poor. Regarding the capability of informal and semi-formal MFIs of outreaching the poor, the challenges to microfinance policy in Indonesia is to develop inclusive financial systems through which the progress of microbanks goes in a parallel direction with the developments of semi-formal and informal MFIs, such as cooperatives and rotating saving and credit associations (ROSCAs).
Investigating the Impacts of Customer Satisfaction on Firm Performance
Leo, Lianny;
Gani, Lindawati;
Jermias, Johnny
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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The purpose of this study is to investigate the impact of customer satisfaction on firm performance. We argue that a firmâs financial performance will be positively affected by its ability to satisfy its customers. By satisfying its customers, a firm increases its ability to acquire new customers, retain existing customers, and increase customer profitability. Based on sample of firms listed on the Indonesian Stock Exchange, we hypothesize and find that customer satisfaction is positively and significantly related to firm performance in terms of return on assets and market value of equity. These findings are consistent with the view that customer satisfaction is a leading indicator of financial performance.
Psychological Factors and Reference Potential of Market Mavens
Puspa, Jofi
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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The function of a market maven in the information transfer processes is apparently related to oneâs psychological states such as inherent knowledge and involvement level. Understanding reference potential of mavens seems to be relevant to comprehend the implicit value of a maven in the communication process. This study shows that (1) apparently, maven groups can be clearly distinguished from a non-maven group on the basis on inherent personal knowledge level and involvement level; (2) market mavens have a high reference potential which confirmed their function in WOM-information.
The Impact of Government Debt Issuance on Short-Term interest rates in Indonesia
Adiningsih, Sri
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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This paper analyzes whether the expansionary fiscal policy funded by issuing debt instruments in financial markets will increase short-term interest rates. If the expansionary fiscal policy increases interest rates, which decrease private spending especially investment, crowding out occurs. This is interesting because global economic crisis has encouraged many countries to run large budget deficits to stimulate the economy. Indonesia has also run budget deficit during this crisis and even in years before. The impact of such a policy can be significant because Indonesiaâs debt market is still narrow and shallow. Therefore, its capability of absorbing the government debt instruments without influencing the private sector funding is limited. This study tests whether the crowding out occurs in Indonesia using a time series econometric model inspired by Cebula and Cuellarâs model. The Cointegration Regression and Error Correction Model (ECM) are used in this study. Monthly data from April 2000 to December 2008 are used for overnight real interbank call money interest rates, real net government bond issues in trading, real narrow money supply, real rate of one-month Certificate of Bank Indonesia, growth of Gross Domestic Product, and real net international capital flows. This empirical study shows that the crowding out problem occurred in Indonesia during the period. This indicates that financing budget deficit in Indonesia by issuing debt instruments in the financial markets has a negative impact on the private sector.
The Implementation of Corporate Social Responsibility (CSR) in Central Java Earthquake: A Preliminary Study on Consumer Belief, Attitude, and Purchase Intention
Hendarto, Kresno Agus
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada
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In Indonesia, Law No. 40/2007 paragraph 74 on Limited Liability Corporation regulates corporate social responsibility (CSR). Although CSR is mandatory for Indonesian resource-based firms, only four months after its enactment, six parties have asked for a judicial review to the Constitution Court as to the mandatory implementation of CSR. They argue that the mandatory implementation of CSR might result in legal uncertainty, render businesses inefficient, decrease competitiveness, and trigger discriminative treatments. Using the cases of CSR after the earthquake in Yogyakarta, this paper aims at answering the question of whether the implementation of CSR will lead to a decrease in competitiveness. Harnessing a mixed method of qualitative and quantitative approaches, this paper examines the models of beliefs, attitudes, and purchase intentions of consumers toward a company implementing CSR. The first phase of this study used a focus group discussion (FGD) to collect data from those who had benefited from CSR, and was analyzed using the content analysis. The results of the first phase then became the basis for the second phase. In the second phase, data were collected by surveying parents of school children whose school buildings were reconstructed by CSR programs, and answers were analyzed using the partial least squares analysis. Results show that the conjecture that the implementation of CSR will result in a decrease in competitiveness is not true. It is evident that CSR program affects the attitudes of consumers toward the firm, and that attitude fully mediates the relation between beliefs and purchase intentions toward the products of the firm implementing CSR.
The Implementation of Corporate Social Responsibility (CSR) in Central Java Earthquake: A Preliminary Study on Consumer Belief, Attitude, and Purchase Intention
Kresno Agus Hendarto
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
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DOI: 10.22146/gamaijb.5522
In Indonesia, Law No. 40/2007 paragraph 74 on Limited Liability Corporation regulates corporate social responsibility (CSR). Although CSR is mandatory for Indonesian resource-based firms, only four months after its enactment, six parties have asked for a judicial review to the Constitution Court as to the mandatory implementation of CSR. They argue that the mandatory implementation of CSR might result in legal uncertainty, render businesses inefficient, decrease competitiveness, and trigger discriminative treatments. Using the cases of CSR after the earthquake in Yogyakarta, this paper aims at answering the question of whether the implementation of CSR will lead to a decrease in competitiveness. Harnessing a mixed method of qualitative and quantitative approaches, this paper examines the models of beliefs, attitudes, and purchase intentions of consumers toward a company implementing CSR. The first phase of this study used a focus group discussion (FGD) to collect data from those who had benefited from CSR, and was analyzed using the content analysis. The results of the first phase then became the basis for the second phase. In the second phase, data were collected by surveying parents of school children whose school buildings were reconstructed by CSR programs, and answers were analyzed using the partial least squares analysis. Results show that the conjecture that the implementation of CSR will result in a decrease in competitiveness is not true. It is evident that CSR program affects the attitudes of consumers toward the firm, and that attitude fully mediates the relation between beliefs and purchase intentions toward the products of the firm implementing CSR.
Factors Affecting Choice in A Multi-Stage Model: The Influence of Saliency and Similarity on Retrieval Set and the Implication of Context Effect on Consideration Set
Eric Santosa
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
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DOI: 10.22146/gamaijb.5518
While it is considered a new paradigm in consumer research, the multi-stage model of consumer decision-making remains unclear as to whether brands are easily retrieved. Likewise, the process of consideration, after particular brands are successfully retrieved, is still in question. This study purports to investigate the effects of saliency and similarity on the ease of retrieval. In addition, referring to some studies of context effect, the effects of attraction, compromise, and assimilation are examined to observe whether they contribute to consideration. A within-subject design is employed in this study. Previously, three preliminary studies are arranged to determine the dominants, new entrants, attributes, and other criteria nominated in the experimental study. The results turn out to be supporting the hypotheses.
The Pro-poor Policy of Microfinance in Indonesia
Agus Eko Nugroho
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
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DOI: 10.22146/gamaijb.5523
This paper discusses and proposes the policy issues associated with the development of microfinance industry in Indonesia. Despite its capability of financing small-scale businesses, the development of the microfinance industry is far behind that of commercial banks. The policy focus on developing sound financial practices of microbanks has ignored the role of semi-formal and informal microfinance institutions (MFIs) in serving poor people. Compliance with the sound banking practices could inevitably drive microbanks away from serving the poor. Regarding the capability of informal and semi-formal MFIs of outreaching the poor, the challenges to microfinance policy in Indonesia is to develop inclusive financial systems through which the progress of microbanks goes in a parallel direction with the developments of semi-formal and informal MFIs, such as cooperatives and rotating saving and credit associations (ROSCAs).
Investigating the Impacts of Customer Satisfaction on Firm Performance
Lianny Leo;
Lindawati Gani;
Johnny Jermias
Gadjah Mada International Journal of Business Vol 11, No 3 (2009): September - December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
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DOI: 10.22146/gamaijb.5519
The purpose of this study is to investigate the impact of customer satisfaction on firm performance. We argue that a firm’s financial performance will be positively affected by its ability to satisfy its customers. By satisfying its customers, a firm increases its ability to acquire new customers, retain existing customers, and increase customer profitability. Based on sample of firms listed on the Indonesian Stock Exchange, we hypothesize and find that customer satisfaction is positively and significantly related to firm performance in terms of return on assets and market value of equity. These findings are consistent with the view that customer satisfaction is a leading indicator of financial performance.