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INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES
International Research Journal of Business Studies (IRJBS), with registered number ISSN 2089-6271 (Print) and ISSN 2338-4565 (Online), is an open access and peer-reviewed scientific journal published by Prasetiya Mulya Publishing, Universitas Prasetiya Mulya. IRJBS published three times a year (December-March, April-July, and August-November).
Articles
129
Articles
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Trends and Impacts of Different Barriers on Bangladeshi RMG Industry‚??s Sustainable Development

Hasan, Md Morshadul ( School of Finance, Nanjing Audit University ) , Parven, Tanjina ( Department of Agricultural Economics, Bangabandhu Sheikh Mujibur Rahman Agricultural University ) , Khan, Shajib, Mahmud, Appel, Yajuan, Lu

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

The main objective of this research is to investigate the trends and impacts of different barriers to Bangladeshi Ready-Made Garments (RMG) industry‚??s growth and development. The influencing factors or barriers have identified and their impact has explored in this research. The trends of identified factors have shown with their specific reasons. Data of this research have collected from the apparel industry in Dhaka and Gazipur City Corporation area using different techniques based on random sampling from its fixed population specified by BGMEA. It has been found that most of the factors have a decreasing trend with mostly moderate impacts on the RMG industry‚??s growth and development. The most important reason for this research is to help the investors who are going to invest in Bangladeshi apparel sector by showing the actual scenario. There has a few past research related to the impact on growth and development.¬†https://doi.org/10.21632/irjbs.11.3.245-260

Determinants of the Stock Price Volatility in the Indonesian Manufacturing Sector

Handayani, Heny ( Sekolah Tinggi Ilmu Administrasi Lembaga Administrasi Negara (STIA LAN) Bandung ) , Muharam, Harjum ( Universitas Diponegoro ) , Mawardi, Wisnu ( Universitas Diponegoro ) , Robiyanto, Robiyanto ( Satya Wacana Christian University )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

This study aimed to analyze the influence of return on equity, debt to equity ratio, sales growth, firm size, cash ratio, and dividend payout ratio to stock price volatility companies listed on the Indonesia Stock Exchange in the period 2011-2015. The population of this study are all manufacturing companies listed in Indonesia Stock Exchange (BEI) in the period 2011 to 2015. It obtained eight companies samples with technique purposive sampling method. The data analysis technique used is the regression model panel then be adjusted again by using GARCH (Generalized Autoregressive Conditional Heteroskedasticity).The results showed that the volatility of the stock price only have effect without any effect ARCH-GARCH therein. Determining the best models of each prediction is based on estimated volatility GARCH (p, q). The determination of whether there is influence of the factors believed to be the determinants of stock price volatility was done by using panel data regression analysis. The results of panel data regression analysis showed that the companys stock price volatility in the research samples can be explained by 4.84% by ROE, CR, DER, DPR, company size and sales growth while the remaining 95.16% explained by other variables outside the research. Only sales growth has significant positive effect on stock price volatility. https://doi.org/10.21632/irjbs.11.3.179-193

Does Board Diversity Influence Financial Performance?

Tarigan, Josua ( Petra Christian University ) , Hervindra, Christoforus ( Petra Christian University ) , Hatane, Saarce Elsye ( Petra Christian University )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

This study extends the empirical evidence on the diversity on board and its impact to the financial performance in Indonesian context. Board diversity, as the independent variable uses three indicator variable of gender diversity, nationality diversity, and education diversity. Aside from traditional proportion measurement, Blau Index also used to measure the heterogeneity degree of each proxy of diversity in this study. This research is focused on the manufacturing companies since manufacturing industry is the largest contributor to the Indonesian GDP. The observation in this research including 525 firm-years from 105 listed manufacturing companies. The result of the study reveals that the heterogeneity in terms of nationality is beneficial for the company as it gives a positive impact to the financial performance measures, while gender and education heterogeneity is proven otherwise. https://doi.org/10.21632/irjbs.11.3.195-215 

The Effect of Company Characteristics and Corporate Governance on the Practices of Intellectual Capital Disclosure

Isnalita, Isnalita ( Departement of Accountancy, Universitas Airlangga ) , Romadhon, Fitri ( Departement of Accountancy, Universitas Airlangga )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

This study aimed to reveal the effect of company characteristics, company size, profitability,¬†leverage,¬†liquidity, and industry type; and corporate governance¬†structure, consisting of the audit firm size and the independent commissioners‚?? composition, on the¬†intellectual capital¬†disclosure.¬†This research applied quantitative approach by testing seven independent variables through multiple linear regression analysis.¬†The samples taken were 80 annual reports from companies listed in the LQ-45 index in the year 2012-2013.¬†The method employed to select the samples was¬†purposive sampling.¬†Content analysis¬†was applied to analyze the¬†intellectual capital disclosure.¬†This study revealed that only the company size showed significant positive impact to the¬†disclosure¬†of intellectual capital,¬†while profitability,¬†leverage,¬†liquidity, industry type, the audit firm size, and the independent commissioners composition did not bring significant effect.¬†In addition, based on the results of content analysis it can be concluded that the¬† intellectual capital disclosure ¬†is quite low, amounting to 46.9%, with relational capital¬†amounted to 34.74%, 32.54%¬†of structural capital, and ¬†human capital¬†reached 32.71%.¬†https://doi.org/10.21632/irjbs.11.3.217-230¬†

Determinants of Micro-Insurance Demand in Jimma Zone

Asmare, Aregu ( Jimma University, Department of Management ) , Worku, Abel ( Department of Accounting and Finance, College of Business and Economics )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

Vulnerability to risk is a constant factor in the lives of the poor and a cause of persistent poverty. Micro insurance offers one approach to mitigate risk, yet demand is relatively low in developing countries. Low demand is a complex issue and many factors influence a household‚??s decision to buy micro insurance. Thus, the aim of study was investigating determinants of micro insurance demand in Jimma Zone. The data used in this study was cross sectional data which collected from households using structured questioner and in-depth interview with officials of insurance companies and microfinance institutions that provides micro insurance product. The collected data was analyzed using multinomial logistic regression model. The findings of the study show that household size, employment status, level of education, adequacy of micro insurance supply, delivery channel, premium, monthly income, Insurable asset, financial literacy, trust and risk aversion has significant impact on the demand for micro insurance products, whereas age, gender, adverse selection and moral hazard, religion and peer influence has insignificant impact on household‚??s demand for micro insurance products.¬†¬†https://doi.org/10.21632/irjbs.11.3.145-157¬†

Employees Work Stress Level in the Hospital

Puteri, Lolyta Aditya ( Department of Management, Faculty of Economics and Business, Universitas Indonesia ) , Syaebani, Muhammad Irfan ( Department of Management, Faculty of Economics and Business, Universitas Indonesia )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

Workers in the health industry are more likely having a higher level of stress compare to other professions in other sectors. Work stress impacts adverse consequences such as fatigue, absenteeism, turnover, customer dissatisfaction, and for health professionals, in particular, it will lead to incorrect diagnosis and curative action. The study aims to identify the source of stress in the hospital among three divisions; medical professional, medical support, and general support as a case study to 181 employees at a hospital in Depok city. Job stress survey (JSS) is selected to measure employee work stress based on three indicators: job stress, job pressure, and lack of organisational support. Job stress survey maps the severity of stress, the frequency of stress, and the index of stress for all those three indicators. The research design is quantitative and uses analysis of variance (ANOVA) to test the different level of stress among three divisions. The result indicates the level of stress is different among three divisions based on stress severity. However, the difference is insignificant on stress frequency and stress index on two indicators namely job pressure and lack of organisational support. Among three divisions, professional medical workers experience the highest level of stress. The implication of the research is discussed. https://doi.org/10.21632/irjbs.11.3.231-243

Connectivity of Actors and Diffusion of Ideas in HR Systems Configuration Process in Multinational Subsidiaries in Indonesia

Rupidara, Neil Semuel ( Universitas Kristen Satya Wacana )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 3 (2018): December 2018 - March 2019
Publisher : Universitas Prasetiya Mulya

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Abstract

The process of Human Resource (HR) systems configuration is overlooked in HR literature. Analysing the process, this article examines the phenomenon of connectivity and the diffusion of ideas among HR actors and other actors outside companies. Three case studies of multinational subsidiaries in Indonesia were conducted. Data were collected through interviews, observations, and corporate documents and were analysed using a quasi-grounded approach. The findings show similarities among elements of HR systems across the cases. The ideas constituting the HR systems within each companies were adopted through a variety of channels of diffusion. This article proposes a typology of connectivity of actors that enabling the diffusion and adoption of ideas across companies. https://doi.org/10.21632/irjbs.11.3.159-177 

Service Recovery and Its Effect on Students‚?? Satisfaction, Trust, and WOM Communication

Harsono, Soni ( Departement of Management STIE Perbanas Surabaya )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 2 (2018): August-November 2018
Publisher : Universitas Prasetiya Mulya

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Abstract

This study aims to examine the effect of service recovery, using distributive justice, procedural justice, and interactional justice approaches, on students‚?? satisfaction, trust, and WOM at excellent, flagship and non-flagship private universities in East Java, Indonesia. A total of 240 students participated in this study. Sampling was conducted using convenience sampling technique. Data analysis was done using regression assisted by SPSS and WarpPLS program. The results of this study provide university managers understanding that the low bargaining position perceived by the students has an impact on various aspects of teaching and learning process which eventually leads to the levels of students‚?? satisfaction, trust, and WOM. This study also suggests what should be done in the service recovery policy made by each university to increase the students‚?? satisfaction, trust, and positive WOM.Keywords:¬† Service recovery, Satisfaction, Trust and Word of mouth (WOM)¬†https://doi.org/10.21632/irjbs.11.2.93-112

Corporate Finance and Firm Value in the Indonesian Manufacturing Companies

Handriani, Eka ( Faculty of Economics and Business, University of Darul Ulum Islamic Centre Sudirman, Jl. Tentara Pelajar No. 13, Ungaran, Central Java, Indonesia ) , Robiyanto, Robiyanto ( Faculty of Economics and Business Satya Wacana Christian University Jl. Diponegoro No. 52-60 Salatiga 50711 Central Java Indonesia )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 2 (2018): August-November 2018
Publisher : Universitas Prasetiya Mulya

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Abstract

This study examines the impact of dividend policy, investment decision, and funding policy on firm value in the Indonesian manufacturing companies. This study was conducted by using 178 manufacturing companies listed in the Indonesia Stock Exchange (IDX) during the period 2009 - 2016. Samples were taken by using a purposive sampling method. This study aims to examine the firm value‚??s main determinants of the manufacturing companies in Indonesia based on basic theory of capital structure through building theoretical model. Partial Least Square through path analysis was used to analyze the data. The findings show that dividend policy, investment decision, and funding policy have a positive impact on the Indonesian manufacturing companies‚?? firm value. This study supports the theory of pecking order and agency theory.¬†Keywords: Dividend policy, Investment decision, Funding Policy, Firm Value, Pecking Order Theory, Agency Theory¬†https://doi.org/10.21632/irjbs.11.2.113-127

Herding Behavior in Indonesian Investors

Fransiska, Maria ( Universitas Katolik Indonesia Atma Jaya Jl Jenderal Sudirman No 51 Jakarta Selatan ) , Sumani, Sumani ( Universitas Katolik Indonesia Atma Jaya Jl Jenderal Sudirman No 51 Jakarta Selatan ) , Pangestu, Stevanus ( Universitas Katolik Indonesia Atma Jaya Jl Jenderal Sudirman No 51 Jakarta Selatan )

INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 2 (2018): August-November 2018
Publisher : Universitas Prasetiya Mulya

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Abstract

This research attempts to investigate the herding behavior of the companies that invested in IDX LQ45 Index during 2014 through 2016. Herd behavior is the tendency of investors to follow other investors‚?? actions in the market. LQ45 was chosen as it comprises the most heavily-traded stocks of the Indonesian Stock Exchange. This research used Vector Autoregressive model to determine the effects of size and market return on the herding behavior. The Granger causality test suggests that there are dynamic interactions: (i) between size and herding behavior; and (ii) between market return and herding behavior. In addition, Variance Decomposition and Impulse Response reveal that market capitalization (size) has variable of the greater role in defining herding behavior, compared to that of market return.¬†¬†Keywords: Herding Behavior, LQ 45, stock index, Vector Autoregression (VAR)¬†https://doi.org/10.21632/irjbs.11.2.129-143