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INDONESIA
Journal of Indonesian Economy and Business
Published by Universitas Gadjah Mada
ISSN : 20858272     EISSN : 23385847     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
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.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 12 Documents
 1   2 
Search results for , issue "Vol 23, No 1 (2008): January" : 12 Documents clear
Overconfident Behavior in a Security Market, the Implication of Self Deceptive Behavior in Price Discovery Processes – A Market Experiment Kufepaksi, Mahatma
Journal of Indonesian Economy and Business Vol 23, No 1 (2008): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

People may suffer from overconfidence in their daily activities. According to psychological research, less informed individuals may suffer from overconfidence. Empirical research shows that investors suffer from transaction losses due to overconfidence. This current research is an experimental research project that addresses these issues. According to the research design, all investors are classified into three groups based on their scores of overconfidence, namely the less informed investors, the rational (average) investors, and themore informed investors. In order to observe the responses of the groups of investors when they receive valuable information, the research employs four different types of treatments consisting of the condition of no market information, the provision of guidance of security prediction, the good news and the bad news.The research demonstrates that the less informed investors are inclined to assess the precision of their knowledge and information excessively so that they produce a higher mean of prediction and price errors than those of the more informed investors in all experimentalmarket sessions, except in the market session of good news. The phenomenon indicates that less informed investors conduct a self deceptive behavior. The result of the research also shows that although the less informed investors have higher mean of prediction or price errors, they have a chance to gain profit as long as they are able to deliver the predicted value of the security accurately which is closer to the market price that reflects the expected price ofthe majority of the market players.Keywords: Overconfidence, self-deception, price (prediction) error; transaction losses
MENINGKATKAN DAYA SAING PEREKONOMIAN NASIONAL: PELAJARAN DARI INDUSTRI TERPILIH Sambodo, Maxensius Tri
Journal of Indonesian Economy and Business Vol 23, No 1 (2008): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This paper aims to analyze the condition of Indonesian comparative advantage, based on internal and external factors analysis. Based on selected industries namely synthetic fiber, pulp and paper, travel goods and photographic and field research from five provinces, there are some lessons need to be done by government. There are threemajor findings from this study. First, there is no improvement in competitiveness without increasing value added and productivity. Second, high local content will help the industries to gain competitiveness. Third, currently, contribution of total factorproductivity and labor productivity are quite low for enhancing competitiveness. The study suggests government needs to develop up stream industries for supporting down stream industries. Further, promoting good and clean governance need to be part ofmicroeconomic reform.Keywords :Comparative advantage, value added, productivity, good and clean governance
Derajat Persaingan Industri Perbankan Indonesia: Setelah Krisis Ekonomi Kusumastuti, Sri Yani
Journal of Indonesian Economy and Business Vol 23, No 1 (2008): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This paper analyses the influence of economic crisis and the subsequent reforms on the oligopolistic nature of the Indonesian banking industry. Since the crisis, there have beensubstantial changes in competitive environment. How did these changes affect a banking industry in which the three teen largest banks accounted for over 70 per cent of market share? To estimate the degree of competition, we apply Bresnahan’s (1989) conjectural variation model. Using estimation models based on microeconomic foundations, this method allows us to derive the index of the firm’s market power that is calculated as the deviation of the market piece from the marginal coat as known as Lerner index. Theestimated indicates that the Lerner index showed a rising trend in the post-crisis period. This result indicates the possibility of a decline in the degree of competition.Keywords: Indonesian banking industry, degree of competition, Brenahan’s conjectural variation, Lerner index.
What Can We Learn From a Failure of Alliances? A Case Study between Dutch and American Companies Wahyuni, Sari
Journal of Indonesian Economy and Business Vol 23, No 1 (2008): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

Penelitian-penelitian terdahulu menunjukkan bahwa banyak stratejik alliansi yang kandas di tengah jalan. Kendati aliansi tersebut diawali dengan komitmen yang tinggi dan diikuti dengan usaha yang berkesinambungan untuk menghasilkan aliansi yang sukses tapitetap saja banyak aliansi yang terhenti di tengah jalan. Pertanyaan utama yang diajukan dalam riset ini adalah: Faktor-faktor penting apa sajakah yang perlu dipertimbangkan manajer untuk membentuk aliansi yang sukses? Dengan menggunakan kualitatif riset,penelitian ini berusahan menggali faktor-faktor penting tersebut. Studi kasus antara Avebe dan Noveon merupakan sebuah contoh alliansi internasional yang diwarnai dengan hubungan yang sangat harmonis anta wakil perusahaan di dalam alianasi tersebut, hampir tidak ada konflik di antara mereka dan kerjasama ini berhasil membuat produk yang sangat unggul di dunia pertekstilan. Anehnya, aliansi ini kandas setelah 4 tahun berjalan. Pelajaran berharga yang dapat kita petik dari kerjasama lintas budaya ini diharapkan dapat membantupara manajer dalam mengembangkan aliansi mereka.Keywords: Strategic Alliances, Failure, Partner Contribution, Control, Conflict, Interdependency, Communication
MENGEJAR PERINGKAT HDI*) NEGARA-NEGARA DI LINGKUNGAN ASEAN: Bechmarking Indonesia dan Vietnam Suryadi, Ace
Journal of Indonesian Economy and Business Vol 23, No 1 (2008): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This article is to aim at scrutinizing factors that have explained the extent to which magnitude and rank of the Human Development Index of Indonesia had or had not improved in the last 8 year. Within this period, the Indonesia’s HDI has been consistently ranked at the 7th position after Vietnam’s, and Indonesia has won the race with this country only in 2004 and 2006.Nevertheless, Indonesia has a great potential to manage some measurable improvement through learning from other ASEAN countries’ experiences. Vietnam is the immediate choice for Indonesia to benchmark for the future HDI improvement. In the HDI 2007, Indonesia is already in favor in three out of the four indicators used to constitute the composite HDI, such as Literacy, Combine GER, and GDP per-capita, whereas Vietnam only is in the life expectancy. In the absence of weighting in the process of compositing the index, Indonesia has to accept the fact that its HDI is lower than that of Vietnam. In the future Indonesia needs being well organized and better coordination in managing HDI improvement affairs to make sure that the right data are timely collected and reported and the better policies on human development are implemented for more Jurnal Ekonomi dan Bisnis Indonesia, Vol 23 No.1,Januari 2008 effective human development programs.Keywords: Angka Harapan Hidup, Angka Melek Aksara, Human Capital, Human Development Index, Manpower Requirement Approach, Partsipasi Pendidikan, Pendapatan Perkapita, Rights Base Approach.
THE 5 STRATEGY TO ENHANCE INDONESIA’S AGRO-BASED INDUSTRY COMPETITIVENESS Joewono, Handito Hadi
Journal of Indonesian Economy and Business Vol 23, No 1 (2008): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

Within the period of 1995-2000, the international competitiveness of Indonesia agrobasedindustry sector had declined, down under the position of Thailand and China which areused as benchmark in this study. The decreasing of Indonesia domestic competitivenesswithin the same periode of time was more frustrated. This study was also find the linkage ofIndonesia agro-based industry sector to Thailand and China.This study had an objective to analyse the competitiveness position of agro-basedindustry sector in Indonesia by analysing input-output in some Asia’s countries, especiallybetween Indonesia, Thailand, and China. Specifically, the purpose of this study are : (1)Measuring the change of agro-based industry competitiveness in Indonesia, Thailand, andChina; (2) Analysing the linkage between agro-based industry sector in Indonesia with theeconomy of Thailand and China; and (3) Calculating and analysing structural growth factorsof agro-based industry sector in Indonesia, Thailand, and China.The analysis in this study used multilateral I-O model and data from Asian I-O Table1995 and 2000 to get the competitiveness score through IIC (Index of InternationalCompetitiveness) and IDC (Index of Domestic Competitiveness), inter-country linkages, keysector and sources of growth through structural decomposition.This study founds that Indonesia had no primary source of growth in agro-basedindustry that could be used in the future development. Structural growth factor in agro-basedindustry sector in Indonesia did not have a pattern, while Thailand was supported bytechnological change factor, and China was supported by export expansion factor.Based on the above findings, this study come to some recommendations to increaseIndonesia agro-based industry competitiveness as follows : (1) Developing agro-basedindustry as a key economic sector, (2) Increasing productivity, (3) Strengthening domesticcompetitiveness, (4) Increasing marketing-based competitiveness, (5) Developing technologybasedeconomy.Keywords: competitiveness, linkages, sources of growth, agro-based industry
THE 5 STRATEGY TO ENHANCE INDONESIA’S AGRO-BASED INDUSTRY COMPETITIVENESS Handito Hadi Joewono
Journal of Indonesian Economy and Business (JIEB) Vol 23, No 1 (2008): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (149.271 KB) | DOI: 10.22146/jieb.6349

Abstract

Within the period of 1995-2000, the international competitiveness of Indonesia agrobased industry sector had declined, down under the position of Thailand and China which are used as benchmark in this study. The decreasing of Indonesia domestic competitiveness within the same periode of time was more frustrated. This study was also find the linkage of Indonesia agro-based industry sector to Thailand and China. This study had an objective to analyse the competitiveness position of agro-based industry sector in Indonesia by analysing input-output in some Asia’s countries, especially between Indonesia, Thailand, and China. Specifically, the purpose of this study are : (1) Measuring the change of agro-based industry competitiveness in Indonesia, Thailand, and China; (2) Analysing the linkage between agro-based industry sector in Indonesia with the economy of Thailand and China; and (3) Calculating and analysing structural growth factors of agro-based industry sector in Indonesia, Thailand, and China. The analysis in this study used multilateral I-O model and data from Asian I-O Table 1995 and 2000 to get the competitiveness score through IIC (Index of International Competitiveness) and IDC (Index of Domestic Competitiveness), inter-country linkages, key sector and sources of growth through structural decomposition. This study founds that Indonesia had no primary source of growth in agro-based industry that could be used in the future development. Structural growth factor in agro-based industry sector in Indonesia did not have a pattern, while Thailand was supported by technological change factor, and China was supported by export expansion factor. Based on the above findings, this study come to some recommendations to increase Indonesia agro-based industry competitiveness as follows : (1) Developing agro-based industry as a key economic sector, (2) Increasing productivity, (3) Strengthening domestic competitiveness, (4) Increasing marketing-based competitiveness, (5) Developing technologybased economy.
OVERCONFIDENT BEHAVIOR IN A SECURITY MARKET, THE IMPLICATION OF SELF DECEPTIVE BEHAVIOR IN PRICE DISCOVERY PROCESSES – A MARKET EXPERIMENT Mahatma Kufepaksi
Journal of Indonesian Economy and Business (JIEB) Vol 23, No 1 (2008): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (170.283 KB) | DOI: 10.22146/jieb.6354

Abstract

People may suffer from overconfidence in their daily activities. According to psychological research, less informed individuals may suffer from overconfidence. Empirical research shows that investors suffer from transaction losses due to overconfidence. This current research is an experimental research project that addresses these issues. According to the research design, all investors are classified into three groups based on their scores of overconfidence, namely the less informed investors, the rational (average) investors, and the more informed investors. In order to observe the responses of the groups of investors when they receive valuable information, the research employs four different types of treatments consisting of the condition of no market information, the provision of guidance of security prediction, the good news and the bad news. The research demonstrates that the less informed investors are inclined to assess the precision of their knowledge and information excessively so that they produce a higher mean of prediction and price errors than those of the more informed investors in all experimental market sessions, except in the market session of good news. The phenomenon indicates that less informed investors conduct a self deceptive behavior. The result of the research also shows that although the less informed investors have higher mean of prediction or price errors, they have a chance to gain profit as long as they are able to deliver the predicted value of the security accurately which is closer to the market price that reflects the expected price of the majority of the market players.
MENINGKATKAN DAYA SAING PEREKONOMIAN NASIONAL: PELAJARAN DARI INDUSTRI TERPILIH Maxensius Tri Sambodo; Ahmad Helmy Fuady; Latif Adam; Purwanto Purwanto
Journal of Indonesian Economy and Business (JIEB) Vol 23, No 1 (2008): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (171.779 KB) | DOI: 10.22146/jieb.6350

Abstract

This paper aims to analyze the condition of Indonesian comparative advantage, based on internal and external factors analysis. Based on selected industries namely synthetic fiber, pulp and paper, travel goods and photographic and field research from five provinces, there are some lessons need to be done by government. There are three major findings from this study. First, there is no improvement in competitiveness without increasing value added and productivity. Second, high local content will help the industries to gain competitiveness. Third, currently, contribution of total factor productivity and labor productivity are quite low for enhancing competitiveness. The study suggests government needs to develop up stream industries for supporting downstream industries. Further, promoting good and clean governance need to be part of microeconomic reform.
DERAJAT PERSAINGAN IINDUSTRI PERBANKAN INDONESIA: SETELAH KRISIS EKONOMI Sri Yani Kusumastuti
Journal of Indonesian Economy and Business (JIEB) Vol 23, No 1 (2008): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (147.015 KB) | DOI: 10.22146/jieb.6351

Abstract

 This paper analyses the influence of economic crisis and the subsequent reforms on the oligopolistic nature of the Indonesian banking industry. Since the crisis, there have beensubstantial changes in competitive environment. How did these changes affect a banking industry in which the three teen largest banks accounted for over 70 per cent of market share? To estimate the degree of competition, we apply Bresnahan’s (1989) conjectural variation model. Using estimation models based on microeconomic foundations, this method allows us to derive the index of the firm’s market power that is calculated as the deviation of the market piece from the marginal coat as known as Lerner index. The estimated indicates that the Lerner index showed a rising trend in the post-crisis period. This result indicates the possibility of a decline in the degree of competition. 

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