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THE SUCCESS OF MALAYSIAN SMEs FINANCING AND THE POTENTIAL OF ISLAMIC FINANCE IN MITIGATING THE ISSUE OF FINANCIAL ACCESSIBILITY AMONG THE INDONESIAN SMEs.

Mohd Thas Thaker, Hassanudin ( Faculty of Business, Economics and Accounting HELP University, Malaysia ) , Sakaran, K Chandra ( Faculty of Business, Economics and Accounting HELP University, Malaysia )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

This study attempts to provide some understanding about SMEs’ access to finance in Malaysia using Islamic finance and its successfulness. The innovation that taking place in the Malaysia financial landscape has benefits the SMEs in accessing financial assistance without relying on the traditional mode of financing. The role of government of Malaysia is also undisputable in supporting the progression of SMEs via various policy implementation. Apparently, in the context of Indonesia, the role SMEs is also undeniable in boosting up the growth of Indonesian economy. Statistically speaking, SMEs in Indonesia represent about 99 percent in all economic sector and involved labor participation of almost 95 percent. Although the contributions are wider, the issue of financial accessibility is still become one of the main hurdles that block the development of SMEs in Indonesia. Therefore, the present study has used content analysis to critically look at the success of SMEs financing in Malaysia based on Islamic financing provides some recommendations based on Malaysian SMEs financing successfulness for Indonesian authority to further restructure and enhance their existing financial assistance to the SMEs based on Islamic financing.

Determinant of The Financial Literacy: Case Study on Career Woman in Indonesia

Dewanty, Novia ( universitas negeri surabaya ) , Isbanah, Yuyun ( Department of Management, Economic Faculty. Universitas Negeri Surabaya )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

Financial literacy is one of the relevant facts in improving the economy. The purpose of this study was to examine the influence of demographic factors (i.e., marital status, education level, income, and age) and financial socialization agent on financial literacy. Using online and offline questionnaire survey from 100 respondents in Surabaya, East Java, and the study revealed that education level, personal income, and financial socialization agent, give the positive effect, while the marital status and age does not affect financial literacy. This result implies that the government can focus on educating the development and improvement of financial literacy for the society. It is believed to be a step forward in practicing financial planning from an early age to solve problems with financial management using financial knowledge, financial attitude, and financial behavior.DOI: 10.15408/etk.v17i2.6681

Building Consumer-Based Brand Equity in Retail Banks: A Quantitative Study On a Pakistani Star Bank

Ahmed, Afzal ( Shaheed Zulfikar Ali Bhutto Institute of Science and Technology ) , Talreja, Suman ( PhD Scholar at SZABIST University Karachi ) , Naz, Hina ( Postgraduate student at SZABIST University Karachi )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

Firms are striving to increase their brand equity that ultimately leads to an increase in profitability. The purpose of the study is to identify the causal relationship of endorsers credibility with Brand credibility and its meditating role on consumer-based brand equity in the banking sector of Pakistan. 384 active HBC account holders taken as the sample and data collected through a comprehensive questionnaire. Correlation and regression analysis were conducted to test the factors of attractiveness, expertise, trustworthiness, and popularity on Brand credibility and further its effect on Brand equity. The results suggest that in banking sector firm Expertise of endorser is the most significant factor followed by trustworthiness and popularity that influence brand credibility and attractiveness does not have any impact on brand credibility. The study provides an understanding of brand building strategy, and it also highlights a clear brand differentiation strategy for bank brands.DOI: 10.15408/etk.v17i2.6728

The Determinants of Performance-Based Budgeting in The Public Sector

Mardi, M. ( Universitas Negeri Jakarta ) , Viranti, Monnica Mezia ( Universitas Negeri Jakarta ) , Purwohedi, Unggul ( Universitas Negeri Jakarta )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

The aim of the study is to examine the effect of organizational commitment, leadership style, and human resource quality on performance-based budgeting in the public sector.The Population for this research is the employees of Planning Bureau, Ministry of Transportation of The Republic of Indonesia, and the samples in this research were 58 employees. The data is collected by conducting a survey through questionnaires. We conducted data analysis process including validity and reliability test of instruments, classical assumption test, and hypothesis testing using multiple linear regression. The result shows that organizational commitment has an effect on performance-based budgeting as well as human resource quality. On the other hand, leadership style has no effect on performance-based budgeting.

Are Stock Prices a Random Walk? An Empirical Evidence of Asian Stock Markets

Rehman, Seema ( Shaheed Zulfikar Ali Bhutto Institute of Science & Technology (SZABIST), Karachi ) , Chhapra, Imran Umer ( Shaheed Zulfikar Ali Bhutto Institute of Science & Technology (SZABIST), Karachi ) , Kashif, Muhammmad ( Shaheed Zulfikar Ali Bhutto Institute of Science & Technology (SZABIST), Karachi ) , Rehan, Raja ( University Kuala Lumpur, Kuala Lumpur )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

Investigating if the market is efficient is an old issue as market efficiency is imperative for channeling investments to best-valued projects and its importance endures. There is contradictory evidence in the literature provided by empirical researches. The primary purpose of this research has been to find out whether share prices are a random walk process by applying multiple unit root tests, Runs Test and newly developed State Space Model. The empirical findings of the study provide sufficient evidence that the stock prices of KSE 100 Index, S & P BSE 500 Index, and CSE All Share Index is not a random walk process and are thus weak form inefficient hypothesis. In this study, the concept of the random walk is examined considering only the stock markets while bypassing the other asset markets. This research supply exciting facts about independent samples from Pakistan, India, and Bangladesh and complement the existing literature on emerging markets.DOI: 10.15408/etk.v17i2.7102

Destination Image of Tourist: Effect of Travel Motivation and Memorable Tourism Experience

Dagustani, Dani ( STIE EKUITAS BANDUNG Student Doctoral Program Padjadjaran University ) , Kartini, Dwi ( Universitas Padjadjaran ) , Oesman, Yevis Marty ( Universitas Padjadjaran ) , Kaltum, Umi ( Universitas Padjadjaran )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

The eco-tourism area of the southern coast of West Java is the focus of research since the area is less well known as a tourist destination. Also, there is a reluctance of tourists to visit again, and tourists find ordinary. The purpose of this study is to examine the influence model of travel motivation and impressive tourism experience towards the destination image. The method used is verification analysis by using Structural Equation Model (SEM). The survey conducted on 302 respondents, i.e., tourists who visited the eco-tourism area of the southern coast of West Java. The results showed the motivation of travel and tourism experience significantly influence the image of tourism destinations. Tourism area managers need to design strategies to improve the image of the region by providing tourist stimulation in the form of exciting information and offers eco-tourism products-themed for tourist with a memorable approach to traveling experiences.DOI: 10.15408/etk.v17i2.7211

Business Valuation of Islamic Banks in Merger Plan To Become An Indonesia’s State-Owned Islamic Bank

Ahdizia, Khulifa ( Universitas Padjadjaran ) , Masyita, Dian ( Universitas Padjadjaran, Bandung, Indonesia ) , Sutisna, S. ( Universitas Padjadjaran )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

Indonesia needs a sizeable Islamic bank to confront the ASEAN Economic Community (MEA) in 2020, so it can compete with existing Islamic banks in ASEAN. Then there was a plan to merge several Islamic banks into Governments Islamic banks. This study aims to analyze from the business valuation point of view about the Islamic banks merger plan in Indonesia and to calculate the value of synergy if the bank merged. Company valuation used DCF-FCFE method and PBV. Islamic banks those were simulated merged are BSM, BRIS, and BNIS. Based on the study there is a synergy when the three banks merged. So, the merger plan of Islamic bank is feasible.DOI: 10.15408/etk.v17i2.7238

Design Thinking for Creating an Increased Value Proposition to Improve Customer Experience

Kleber, Daniel Marco-Stefan ( University of Applied Sciences Kaiserslautern )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

Purpose of this conceptual study is the identification of design thinking approaches and underlying logic for increasing the value proposition to improve customer experience in today´s dynamic and fast-changing business environment. Method of research based on content analysis of distinctive streams in the literature on design thinking for delivering the increased value proposition. Core elements of design thinking were identified and combined with service-oriented thinking logics aiming at providing superior value proposition and thus to improve customer experience. Furthermore, the article elaborates on the delimitation of Design thinking from Designerly thinking, and a new model for enhancing customer value propositions, the wheel of Design thinking, was developed based on core elements of Design thinking approaches. This approach has a potential to shape and redefine existing markets and to improve adjustment of products and services to dynamic customers´ needs and demands.DOI: 10.15408/etk.v17i2.7311

Evaluation Of Macroprudential Policy On Credit Growth In Indonesia: Credit Registry Data Approach

Dana, Badara Shofi ( Department of Economics and Development Studies Universitas Jember, Jl. Kalimantan 37, Jember 68121, East Java, Indonesia Email: badara.dana@gmail.com )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

Macro-prudential policies have an essential role in mitigating the imbalances in the financial sector that stem from procyclical credit growth. This study aims to evaluate macro-prudential policy in mitigating risk on procyclical credit growth with a registry data approach. Structural Vector Autoregression (SVAR) analysis method is used to evaluate macro-prudential policy in influencing credit growth. The results show LTV instruments can reduce credit growth but not to procyclical mitigation. Dissimilar results in the implementation of CCB and GWM + LDR instruments are capable of procyclical credit mitigation. Policies that can be done by the central bank are the establishment of an early warning system in macro-prudential policy as well as strengthening of Countercyclical Buffer (CCB), Loan to Value (LTV) instruments and Minimum Reserve Requirement + Loan Funding Ratio (GWM + LFR) in capturing systemic risks from various sources which further strengthens the assessment and surveillance.DOI:10.15408/etk.v17i2.7324

The Impact of ASEAN-Korea Free Trade Agreements on Indonesian Export of Manufacturing Goods

Mareta, Bernadheta Mia Tri ( Universitas Indonesia Ritsumeikan University )

ETIKONOMI Vol 17, No 2 (2018)
Publisher : Faculty of Economic and Business

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Abstract

Along with an attempt to promote the export performance of manufacturing goods, the number of investigation about the potential benefit or harm of free trade agreements is still weak in Indonesia. This paper highlights the effect of ASEAN-Korea Free Trade Agreement (AKFTA) on Indonesian export of manufacturing products since AKFTA as one of the significant initiatives in Southeast Asia is expected to boost Indonesian export. By using augmented gravity models with panel data, this paper investigates the presence of trade creation and trade diversion effects on Indonesian export with 20 trading partners, covering a 26-year period from 1990-2015. Fixed effects with least square dummy variable (LSDV) models are applied to tackle the endogeneity problems of FTA by controlling the unobserved heterogeneity. The results showed that trade diversion outweighs trade creation effects in almost all categories, confirming a decrease in export from member to non-member countries.DOI: 10.15408/etk.v17i2.7342