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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 13 Documents
Search results for , issue "Vol 29, No 3 (2014): September" : 13 Documents clear
MONETARY AND FISCAL POLICY ANALYSIS: WHICH IS MORE EFFECTIVE? Yunanto, Muhamad; Medyawati, Henny
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

Fiscal policy is an adjustment in the income and expenditure of government as stipulated inthe state budget in order to achieve better economic stability and pace of development. Themain objective of this study was to measure and analyze Fiscal and Monetary Policy of theGross Domestic Product (GDP). Fiscal Policy Multiplier (FPM) and Monetary PolicyMultiplier (MPM) are used to answer the debate where more effective between fiscal policy andmonetary policy. Short-term models derived through error correction model (ECM), which alsoforms the derivative equation. A system of simultaneous equations two stage least squares(TSLS), is used to describe the sensitivity analysis (response) of shocks to the policy change ofimportant macroeconomic indicators. The results showed that during the study period,Indonesias monetary policy more effective than fiscal policy.Keywords: monetary policy, fiscal policy, Mundell-Flemming Model
THE EFFECT OF GCG IMPLEMENTATION AND RISK PROFILE ON FINANCIAL PERFORMANCE AT GO-PUBLIC NATIONAL COMMERCIAL BANKS Haryati, Sri; Kristijadi, Emanuel
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

The research tests the effect of the risk profile and the application of corporate governanceon financial performance at go-public national commercial bank. The data were taken fromtheir financial statement and GCG assessment published during 2008-2010, analyzed usingSEM with generalized structured component analysis (GSCA). It shows that risk profile has nosignificant and positive effect on the financial performance. Among the four risk profiles,liquidity risk has the best discriminate validity. However, GCG has significant and positiveeffect on the financial performance, and only financial and non financial transparency has thebest convergent validity. Banks five financial performance indicators have good validity.Beside, ROA, NIM and CAR have good validity in which ROA has the highest loading estimate.Keywords: good corporate governance, risk profile, profitability, capital
STUDENT PERCEPTION ON BUSINESS ETHICS Suwardi, Eko; Artiningsih, Arika; Novmawan, M. Ridwan
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

Many research conducted on the behavior of business persons and their perception on businessethics. However, rarely similar study deals with the perception of students on businessethics. Indeed, students are our future generation who are going to have substantial role inIndonesian business and economy. Therefore this study focuses on students as a proxy for futurebusiness players in this country (Trawick and Draden, 1980). We compare among groups ofstudents based on their maturity, formal business ethic education, gender and specific professionalbackgrounds. The results of analysis show that in general students have good perceptionon business ethics. Further, there is a significant different perception on business ethics amongstudents with different academic maturity, professional background. Student with businessbackground are less ethical compare to those are with non-business background. This may consistentwith previous evidence found that ethical principles need to be introduced more tobusiness students. In contrast, there is no different perception on business ethics among studentwith different gender groups and formal business ethics course. This could be business ethicsformal education takes time to be internalized by participants or student with no formalbusiness ethics course also learn business ethics from other sources.Keywords: students, perceptions, business ethics
WILLIAMSON MODEL: AN APPLICATION OF INSTITUTIONAL TRANSFORMATION IN THE INDONESIAN DGT Jaya, Wihana Kirana; Rahajeng, Anggi; Bastian, Indra
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

A reform of tax administration in Indonesia has been carried out in several stages from 1983to 2009. However, the changes are limited to the tax system of the DGT, it being the tax governingbody in Indonesia, which has still has not managed to meet the tax revenue target (reflectedthrough a tax ratio). A lack of authority caused the DGT (DGT) to face some difficulties inreaching the target and demonstrating the expected performance. The goal of this paper is tostress the needs of institutional transformation in DGT. By using the Williamson Model, thisstudy focuses on evaluating the DGT institutionally and creating an alternative institutionaltransformation of the DGT. The international and domestic results of ascertaining bestpractices conclude that the DGT needs to change gradually, not with a ‘big bang’, and byproviding the more flexible authority by remaining in the structure of Traditional Departmentor Single Directorate in the Ministry of Finance (SDMOF) which would lead to an organizationstructure which is semi-autonomous or a Unified Semi-autonomous Body (USB) that covers allthe systems of taxation such as service, assurance, law enforcement and supporting roles.Keywords: tax governing body, Indonesian DGT (DGT), institutional transformation, williamson model
INTERNET SEARCH TRAFFIC AND ITS INFLUENCE ON LIQUIDITY AND RETURNS OF INDONESIA STOCKS: AN EMPIRICAL STUDY Usman, Berto; Tandelilin, Eduardus
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

The development of advanced information technology has become a standard in the processof improving corporate value. This is seen through the high level of investors’ awareness of thebrand and information that company holds (Da, Engleberg, and Gao, 2011; Bank, Larch, andGeorge, 2011; Joseph, Wintoki, and Zhang, 2011). Among the information providers, internetplays an important role not only in accessing information, but also as a medium that can beapplied to publish a wide range of financial reports or news to attract investors. This study aimsto examine the effect of investors’ attention towards returns, liquidity and volatility of stockreturns. The results indicate that investors’ attention which is represented by Google Insightcontributes positively and significantly to the explanation of returns, liquidity, and volatility ofstock returns in Indonesian manufacturing firms. Also, the phenomenon of informationtechnology usage can be one of the considerations for investors in order to discover what typesof company’s criterion that is appropriate to be included in their investment portfolio.Keywords: investors’ attention, returns, liquidity, volatility of stock returns
TEACHING OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS AND THE PROSPECTS FOR TEACHING IT IN DEVELOPING COUNTRIES: A SURVEY Sanjaya, Muhammad Ryan
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

The rising trend of behavioral and experimental economics is observed through a survey ofthe top 100 academic institutions in economics and econometrics. The survey found that thissubject is relatively popular with around 44% of academic institutions offering this course toundergraduate students. Another survey on publication interest found a surge since 2002 thatwas experienced by this subject along with only a few other subjects such as labor economicsand business economics. Lastly, four short experiments on undergraduate students wereconducted in Indonesia to explain economics, and this activity seems to support the studentcenteredlearning that has since became the focus of the Directorate General of HigherEducation in Indonesia.Keywords: behavioral and experimental economics, economics teaching, developing countriesJEL codes: A12, A22, D03
STUDENT PERCEPTION ON BUSINESS ETHICS Eko Suwardi; Arika Artiningsih; M. Ridwan Novmawan
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 3 (2014): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (47.262 KB) | DOI: 10.22146/jieb.6472

Abstract

Many research conducted on the behavior of business persons and their perception on business ethics. However, rarely similar study deals with the perception of students on business ethics. Indeed, students are our future generation who are going to have substantial role in Indonesian business and economy. Therefore this study focuses on students as a proxy for future business players in this country (Trawick and Draden, 1980). We compare among groups of students based on their maturity, formal business ethic education, gender and specific professional backgrounds. The results of analysis show that in general students have good perception on business ethics. Further, there is a significant different perception on business ethics among students with different academic maturity, professional background. Student with business background are less ethical compare to those are with non-business background. This may consistent with previous evidence found that ethical principles need to be introduced more to business students. In contrast, there is no different perception on business ethics among student with different gender groups and formal business ethics course. This could be business ethics formal education takes time to be internalized by participants or student with no formal business ethics course also learn business ethics from other sources.
ISLAM AND THE MORAL ECONOMY: THE CHALLENGE OF CAPITALISM Sumiyana .
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 3 (2014): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (177.514 KB) | DOI: 10.22146/jieb.23586

Abstract

This is a book review on Islam and the moral economy that highlights the challenge of capitalism.
WILLIAMSON MODEL: AN APPLICATION OF INSTITUTIONAL TRANSFORMATION IN THE INDONESIAN DGT Wihana Kirana Jaya; Anggi Rahajeng; Indra Bastian
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 3 (2014): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (285.708 KB) | DOI: 10.22146/jieb.6473

Abstract

A reform of tax administration in Indonesia has been carried out in several stages from 1983 to 2009. However, the changes are limited to the tax system of the DGT, it being the tax governing body in Indonesia, which has still has not managed to meet the tax revenue target (reflected through a tax ratio). A lack of authority caused the DGT (DGT) to face some difficulties in reaching the target and demonstrating the expected performance. The goal of this paper is to stress the needs of institutional transformation in DGT. By using the Williamson Model, this study focuses on evaluating the DGT institutionally and creating an alternative institutional transformation of the DGT. The international and domestic results of ascertaining best practices conclude that the DGT needs to change gradually, not with a ‘big bang’, and by providing the more flexible authority by remaining in the structure of Traditional Department or Single Directorate in the Ministry of Finance (SDMOF) which would lead to an organization structure which is semi-autonomous or a Unified Semi-autonomous Body (USB) that covers all the systems of taxation such as service, assurance, law enforcement and supporting roles.
INTERNET SEARCH TRAFFIC AND ITS INFLUENCE ON LIQUIDITY AND RETURNS OF INDONESIA STOCKS: AN EMPIRICAL STUDY Berto Usman; Eduardus Tandelilin
Journal of Indonesian Economy and Business (JIEB) Vol 29, No 3 (2014): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (322.916 KB) | DOI: 10.22146/jieb.6477

Abstract

The development of advanced information technology has become a standard in the process of improving corporate value. This is seen through the high level of investors’ awareness of the brand and information that company holds (Da, Engleberg, and Gao, 2011; Bank, Larch, and George, 2011; Joseph, Wintoki, and Zhang, 2011). Among the information providers, internet plays an important role not only in accessing information, but also as a medium that can be applied to publish a wide range of financial reports or news to attract investors. This study aims to examine the effect of investors’ attention towards returns, liquidity and volatility of stock returns. The results indicate that investors’ attention which is represented by Google Insight contributes positively and significantly to the explanation of returns, liquidity, and volatility of stock returns in Indonesian manufacturing firms. Also, the phenomenon of information technology usage can be one of the considerations for investors in order to discover what types of company’s criterion that is appropriate to be included in their investment portfolio.

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