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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 9 Documents
Search results for , issue "Vol 16, No 2 (2001): April" : 9 Documents clear
MENGATASI KRISIS MONETER MELALUI PENGUATAN EKONOMI RAKYAT Mubyarto Mubyarto
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The Indonesian economy in the year 2000 grew 4,77 percent after only 0,23 percent growth in the previous year, due to the strong growth of physical investment and export. Any economy that is growing 5 percent a year with inflation below 10 percent is certainly not in crisis condition. However, the “complete loss of investor confidence” indeed has not restored because of political uncertainty and insecurity. The paper argues that the dualistic nature of the Indonesian economy and the important role of the ekonomi rakyat (people’s economy) is instrumental in explaining the phenomena. Another phenomenon that must be considered is the wide regional variation, meaning that the economic and monetary crisis affecting Java’s economy negatively, may become “bonanza” to other regions producing export commodities. The regional variation especially in the Human Development Index also means that indeed backward regions should be able to learn from other regions having better quality of human resources. Finally lessons can be learned from countries like India and China that has not liberalized their economy too far. The 1997 crisis has taught a hard lesson to Indonesia.
AN EXPLORATORY STUDY ON THE REAL-TIME STRATEGIC FACTORS OF CORPORATE REAL ESTATE ASSET MANAGEMENT [CREAM] PRACTICES: EVIDENCE FROM INDONESIAN COMPANIES Wakhid Slamet Ciptono; Budi Wiryawan
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

Memasuki era transformasi (reformasi) nasional dan otonomi daerah, organisasi publik dan bisnis Indonesia dituntut untuk mampu mengembangkan daya saing, efisiensi, dan keefektifannya guna melakukan proses perubahan secara kreatif dan berkesinambungan (sustainable). Setiap organisasi perlu membangun strategi perubahan secara proactive dan interactive (real-time strategic) untuk menjadi the leader of crisis. Studi ini menjelaskan penerapan real-time strategic dengan memotret praktik manajemen aset bangunan perusahaan (corporate real-estate asset management or CREAM) di Indonesia. Dengan menggunakan cluster analysis—dari 97 perusahaan yang menjadi responden—44 perusahaan (45%) berada dalam kelompok pasif, 37 perusahaan (38.10%) berada dalam kelompok selektif, dan 16 perusahaan (16.50%) berada dalam kelompok aktif. Hal ini menunjukkan potret perusahaan di Indonesia belum efisien dalam mengelola aset bangunannya. Dalam kondisi krisis multidimensional saat ini, berbagai kesalahan tipe I dan tipe III (mismanagement creates high level of inefficiency and high cost economy) menjadi suatu budaya yang harus segera dilakukan pembenahan secara sistematik, total, dan beorientasi pada program. Studi ini memberikan gambaran bagaimana bangsa Indonesia hijrah dari belenggu KKN (inactive and reactive strategic) menuju Indonesia Baru (a good corporate and government governance; proactive and interactive or real-time strategic) melalui corporate real estate asset management (CREAM).
STABILITAS DAN PREDIKTABILITAS BETA SAHAM: STUDI EMPIRIS DI BURSA EFEK JAKARTA Eduardus Tandelilin; I Wayan Nuka Lantara
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The purpose of this research is to empirically analyze the stability and predictability of beta of common stocks in the Jakarta Stock Exchange (JSX). This is accomplished by first correcting the bias of beta using four-lead and four-lag versions of the Fowler and Rorke method. This study used the weekly returns of 95 stocks traded in the JSX from the first week of January 1994 to the last week of December 1996. The weekly Composite Index of the JSX was used as the proxy for market return. The stability and predictability of beta were studied over three 52-week periods by using the matrix transition test and correlation test. The result indicates that there is stability and predictability of common stocks during this research period. There is also an indication that portfolio betas are more stable and predictable than individual betas.
ANALISIS KINERJA SURAT BERHARGA SETELAH PENAWARAN PERDANA (IPO) DI INDONESIA Arum Prastiwi; Indra Wijaya Kusuma
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

Numerous studies examined the performance of initial public offerings in some countries. The studies documented two phenomenon: short-run underpricing and long-run underperformance. The purpose of this study is to investigate stocks performance after Initial Public Offerings (IPO) in Indonesia. Monthly abnormal return was used as a proxy for performance using Market-Adjusted Model. The short term performance is based on the 3 months performance and the long-term performance is based on 24 months. The number of the sample is 78 company that issued IPO in 1994 – 1997. Results from one sample t-test show that in the short run there are large positive mean and median excess returns of 39.07 percent and 21.04 percent respectively. The long run mean abnormal return was dropped until –238.83 percent and –243.22 percent respectively for stocks that were bought in the initial market and in the aftermarket. This result is consistent with studies in numerous countries. In the long run, the performance was underperformed. Result from paired comparison t-test confirms that in the long run the performance was worse (underperformed) than in the short run.
STUDI EKSPLORASI TENTANG PENYEBARAN TEKNOLOGI INFORMASI UNTUK USAHA KECIL DAN MENENGAH Hargo Utomo
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

This paper investigates factors contributing to the diffusion and adoption of IT within small and medium-sized firms in Indonesia. Both quantitative and qualitative approaches were used to answer detailed research questions about IT diffusion at the level of the firm. Based on the exploratory nature of the study, it is believed that internal innovative capabilities of firms have a prominent role in facilitating IT diffusion. This factor is made up of three proxy variables: level of IT knowledge, level of IT investment and coherent IT strategy reflecting the circumstances by which small and medium-sized firms are able to respond to possible technological changes. The existence of government support is also a contributing factor to the diffusion and adoption of IT. However, weak relationship between the institutions and industry groups could inhibit the diffusion and adoption of IT within firms.
INDUSTRI GULA NASIONAL DI PERSIMPANGAN JALAN: MAMPU BERTAHAN ATAU TERSINGKIR M. Husein Sawit
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The Indonesian sugar industry is having shocked recently. The price of sugar in the world market has dropped significantly and the imported sugar cannot be controlled properly. Since January 2000, Government had imposed tariff of 25% for white sugar; however, the effective tariff must be lower due to miss management in the implementation of the policy. The government has protected heavily the sugar industry for a long time, and when the monetary crisis came almost all of them were abolished. Since then, the inefficient sugar industry directly faced competition with the world efficient sugar industry. The purpose of this article is to analyse the constrains for increasing efficiency and productivity of sugar mills in Java, and the constrains faced when it is expanded to the outer island of Java. In the long run, the sugar industry has to be designed in such a way in order to be expanded to the dry land areas and to the outer island of Java, managed by private sector.
RESPON PROFESI AKUNTAN MANAJEMEN INDONESIA TERHADAP PERGESERAN PERAN PROFESI TERSEBUT DALAM ERA TEKNOLOGI INFORMASI Mulyadi Mulyadi
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The shifting role of management accounting profession has demanded a radical change on the core competence of the profession. The Management Accountant Compartment of Indonesian Institute of Accountants has responded strategically to the change, in order for the profession to adapt to the new environment. It published a very fundamental statement on management accounting, concerning the framework for formulating the competencies of management accounting profession. Using the framework, then, it formulated the new roles and the core competencies of management accounting profession needed to fulfill the roles. This article describes the strategic steps taken by the Indonesian management accounting professional organization in responding to the radical change in its environment.
TINJAUAN BUKU: PROSPEK OTONOMI DAERAH DAN PEREKONOMIAN INDONESIA PASCA KRISIS EKONOMI Puthut Indroyono
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

Sejak Januari 2001, ekonomi Indonesia memasuki era baru yang disebut Era Otonomi Daerah, mengacu pada penerbitan 2 undang-undang yaitu UU No. 22/1999 tentang Pemerintahan Daerah dan UU No. 25/1999 tentang Perimbangan Keuangan Antara Pusat dan Daerah. Dalam rangka “pengecekan lapangan” prospek pelaksanaan ke-2 UU tersebut telah terbit buku hasil penelitian “Prospek Otonomi Daerah dan Perekonomian Indonesia Pasca Krisis Ekonomi” (Januari 2001).
KAUSALITAS ANTARA EKSPOR DAN PERTUMBUHAN EKONOMI Aliman Aliman; A. Budi Purnomo
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 2 (2001): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The debate about the role of exports in the development of economic theory has emerged since the 1950s. In the macroeconomic theory, the relationships between export and economic growth and / or national income is an identity because export is a part of national income, but in development economics, heavily concern over matters wether export make prosperity (wealth) or suffering to a nation. Jung and Marshall (1985) examine four viewpoints characterize equally plausible hypothesis of relationships between export and economic growth: (1) export-led growth hypothesis, (2) internally generated export hypothesis, (3) export-reducing growth hypothesis and (4) growth-reducing export hypothesis. The empirical result using real national income and real export data over 1969–1997 suggests that error correction causality tests show bidirectional pattern, but according to the value of error correction term, adjustment coefficient reaction, Granger-causality test (1969) and final prediction error (FPE) show unidirectional causality from real national income to real export. Thus, over the period 1969-1997, Indonesia supported internally generated export hypothesis.

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