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Wuri Handayani, Ph.D.
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Faculty of Economics and Business, Universitas Gadjah Mada Jalan Sosio Humaniora No. 1, Yogyakarta 55281
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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 16 Documents
Search results for , issue " Vol 24, No 1 (2009): January" : 16 Documents clear
A STUDY ON THE CORE CURRICULUM OF ACCOUNTING AS THE COMPETENCIES BUILDER OF THE ACCOUNTING GRADUATES (A Study on The Accounting Graduates Who Work at Private Companies, State Companies, Non-Profit Organizations, And Public Accountant Firms in Surabaya) Zuhroh, Diana; Parawiyati, Parawiyati; Lisetyati, Eni
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

As generally known accounting graduates are considered to have low quality. Based on recent studies and practitioners experience, there are two reasons for this: (1) accounting curriculums are not matched with up to date practices, and (2) they were not introducedto real practices that they will face when they have finished their study. The objective of this study are (1) to obtain an empirical evidence about accounting practitioner competences, and (2) establishing a curriculum structure that is relevant with user needs.The study used and are sent questionnaire to two hundreds respondents (accounting practioners) in Surabaya. They asked to rate on one to five point Likert type scale the importance of accounting competents (in knowledge, skills, and ethics), and the importance of subjects needed in developing these competencies as well. The subjects listed based on goverment regulation No. 232/U/2000 and UU No. 045/U/2002. The scale is set low importance to one and high importance to five rating.This paper reports competencies and subjects listed on detail ranked in order of mean score. Competences and subjects with higher rank are needed in today practice. The Accounting Department is suggested to use this result in designing its curriculum for reducing gap between practice and education and to improve accounting graduates’ quality.Keywords : Competency, Curriculum , Accounting Education, Accounting Graduates.
STRENGTHENING FINANCIAL SYSTEM STABILITY THROUGH ENHANCING INTERMEDIARY FUNCTION AND EFFICIENCY OF BANK PEMBANGUNAN DAERAH (REGIONAL DEVELOPMENT BANK) Endri, Endri
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This paper analyzes the function of the regional development banks (BPD) as an intermediary institution using the loan to deposit ratio (LDR) and Bank Indonesia Certificate to deposit ratio (SDR) and efficiency performance with data envelopment analysis (DEA) approach with data during 2006-2007 covering 26 BPD in Indonesia. The result of study indicates that the regional development banks do not play its optimal role as the intermediary institution and efficiency performance do not achieve the level of maximum 100 persen. For getting the optimal function of banking intermediary and promoting better efficiencies, BPD needs to design some steps of the grand strategy that can be developed in the future, that is: the limitation of funds placed by BPD in Bank Indonesia Certificate notes, inter BPD networking, focus on market segmentation, diversification source of funds, and creating local credit guaranting institutions.Keywords: bank efficiency, bank intermediary, loan to deposit ratio (LDR), SBI to deposit ratio (SDR), data envelopment analysis (DEA)
THE CONCENTRATION PATTERN AND IMPLICATION OF 2001 FLIGHT DEREGULATION POLICY ON DOMESTIC COMMERCIAL FLIGHT INDUSTRY IN INDONESIA Istifadah, Nurul
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

To enhance competition in the transport market, the Government of Indonesia has, since 2001, implemented deregulation policy for the flight sector. Through the decree of Minister of Transportation No. 11/2001, the requirements to obtain a flight operator license are simplified and an airline company can operate even without having to have its own plane.This research aims to analyze the condition before and after the flight deregulation policy. In particular, the purposes of this research are: (1) to analyze pattern of concentration for domestic commercial flight industry; (2) to calculate index of concentration for domestic commercial flight industry; (3) to analyze the market structureof domestic commercial flight industry; and (4) to analyze the implications of the flight deregulation policy in 2001. The measurement and analysis of the concentration pattern of domestic commercial flight industry are conducted using Hirschman-Herfindahl index, concentration ratio, and entropy index.The results show that the concentration level of domestic commercial flight industry in Indonesia is smaller under the new policy than that under the regulated regime. Not only the number of airline companies increases, but the share of domestic flight market is also more diversed. While the structure of domestic commercial flight market in Indonesia is still oligopoly, it changes from rigid into less rigid.Keywords: Concentration ratio; Hirschman-Herfindahl index; Entropy index; Domestic commercial flight industries; Flight deregulation policy.
GLOBAL RECESSION AND ASIAN GROWTH: EXPERIENCE AND PROSPECTS Dowling, John Malcolm
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

The paper outlines current macroeconomic developments in industrial countries and explains how slower growth in these economies is being transmitted to developing economies in Asia. The macroeconomic outlook for industrial countries in 2009 is discussed along with the transmission mechanism that has brought the global downturn tothe Asian economies. Monetary and fiscal policy adjustments in Asian economies have been implemented to address the downturn in economic activity and these policies are discussed in some depth. All the major countries in East Asia, Southeast Asia and South Asia are analysed. The paper concludes with a brief review of the outlook for 2010.Keywords: global recession, monetary and fiscal policy, Asian economies, economic outlook.
NOISE AS THE IMPACT OF TRADING MECHANISM AND PERIODIC CLEARING PROCEDURES: SUBSTANTIVE EVIDENCE FROM INDONESIA STOCK EXCHANGE Sumiyana, Sumiyana
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

Sumiyana (2007b) investigates that noises occurred in Indonesia Stock Exchange. Especially, Sumiyanas’ research concludes that noise over trading and nontrading period, along with overnight and lunch break nontrading session, and the first and second trading session, had occurred. However, Sumiyana’s research does not identify who are responsible for the noise. This research used intraday data in Indonesia Stock Exchange. Samples of the data are the firms consecutively listed in LQ 45 indexes for the year of 2004-2006.This research attempts to identify who are responsible for the noise. This research studies effects of trading mechanism and clearing mechanism on the stock return behaviour. Finally, this research is enabling to differentiate the effect of trading mechanism from the effect of clearing mechanism. This research concludes that periodicclearing procedure at the beginning of the trading period is noisy. Therefore, this research suggests that trading mechanism in Indonesia Stock Exchange is inefficient. This research also hopefully recommends shifting from the periodic to continuous trading mechanism.Keywords: Intraday data, trading mechanism, trading and nontrading periods, stock return behaviour, noise, negative autocorrelation, clearing mechanism, periodic clearing procedure.
COMPETITIVENESS TOWARDS ASEAN ECONOMIC COMMUNITY Pangestu, Mari Elka
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (115.193 KB)

Abstract

ASEAN Economic Community will be the driving force of an economic integration within ASEAN countries, and between ASEAN countries and the rest of the world. Many believe the economic integration will realize ASEAN framework as a single market and production base, to increase competitive economic region, to support more equitable economic development, and as a stepping stone toward full integration into globaleconomy. Commitments of the implementation of AEC Blueprint by ASEAN member countries will be a crucial role to achieve the objective of the ASEAN Vision, Mission, and Targets.Keywords: AEC, ASEAN, Economic Community
THE DIFFERENCE IN CONSUMER RISK PERCEPTION BETWEEN CELEBRITY ENDORSER AND EXPERT ENDORSER IN COLLEGE ADVERTISEMENTS Soliha, Euis; Zulfa, Naila
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This research aims to examine the difference in consumer risk perception between celebrity and expert endorser in advertisement. We proposed two hypothesis, H1: There is a difference in consumer risk perception between an expert endorser and celebrityendorser in college advertisement. H2: There is a difference in consumer risk perception between an expert endorser and a celebrity endorser in college advertisement, which is moderated by the consumer product knowledge.Experimental design was employed in this study with Statistical Experimental-Completely Randomized Design. This was conducted on three groups to test H1 and six groups to test H2. To test H1, the participant of each group was given full color print ads using celebrity endorser, expert endorser and nonendorser in advertisement. We gofurther splitting each group with high and low consumer product knowledge to test H2.The participants of this research are 200 students of SMA 7 Semarang. We use One Way Anova to test H1 and two ways Anova to test H2. Our findings showed that there is a difference in consumer risk perception between an expert endorser and celebrity endorser in college advertisement. We also found that there is no differencein consumer risk perception between an expert endorser and a celebrity endorser in college’s advertisement, which is moderated by the consumer product knowledge. We also found that there is difference in consumer’s perceived performance risk, consumer’sperceived financial risk and consumer’s social risk between an expert and celebrity endorser in College advertisement. On the other hand, we found there is no difference in consumer perceived psychological risk between an expert and celebrity endorser in College advertisement.Keywords: celebrity endorser, expert endorser, consumer risk perception, consumer product knowledge.
TOWARD OPTIMUM SYNERGY OF MONETARY POLICY IN DUAL FINANCIAL/BANKING SYSTEM Ascarya, Ascarya
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

In a country adopting dual financial/banking system, where a conventional financial system coexists with an Islamic financial system, monetary authority has the responsibility to maintain financial/monetary stability and synergy of both systems. This study analyses and compares one of the main pillars of conventional monetary system and Islamic monetary system (i.e., interest system vs. profit-and-loss sharing/PLS system) and try to come up with the possible conduct of optimum monetary policy under dual financial/banking system. The results show that PLS system is superior to interest system in fairness, justice, efficiency, and stability. Therefore, the optimum synergy in the dual financial/banking system can be achieved when monetary policy in conventional systembenchmarks its policy rate to the PLS market return in Islamic financial market of Islamic system, which will ensure optimum market efficiency that maximize distributive social welfare and justice. Monetary policy in managing money supply is only a response to thedynamic activity in the real sector. While, active monetary policy can be conducted, not by altering M, but by altering V, i.e. to increase the flow of money in the economy by issuing central bank SUKUK with PLS market return to finance government projects, commercially as well as socially, in the real sector.Keywords: Islamic Monetary System, Islamic Financial System, Dual Banking Financial System
NOISE AS THE IMPACT OF TRADING MECHANISM AND PERIODIC CLEARING PROCEDURES: SUBSTANTIVE EVIDENCE FROM INDONESIA STOCK EXCHANGE Sumiyana, Sumiyana
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (279.402 KB) | DOI: 10.22146/jieb.6334

Abstract

Sumiyana (2007b) investigates that noises occurred in Indonesia Stock Exchange. Especially, Sumiyanas’ research concludes that noise over trading and nontrading period, along with overnight and lunch break nontrading session, and the first and second trading session, had occurred. However, Sumiyana’s research does not identify who are responsible for the noise. This research used intraday data in Indonesia Stock Exchange. Samples of the data are the firms consecutively listed in LQ 45 indexes for the year of 2004-2006.This research attempts to identify who are responsible for the noise. This research studies effects of trading mechanism and clearing mechanism on the stock return behaviour. Finally, this research is enabling to differentiate the effect of trading mechanism from the effect of clearing mechanism. This research concludes that periodicclearing procedure at the beginning of the trading period is noisy. Therefore, this research suggests that trading mechanism in Indonesia Stock Exchange is inefficient. This research also hopefully recommends shifting from the periodic to continuous trading mechanism.Keywords: Intraday data, trading mechanism, trading and nontrading periods, stock return behaviour, noise, negative autocorrelation, clearing mechanism, periodic clearing procedure.
COMPETITIVENESS TOWARDS ASEAN ECONOMIC COMMUNITY Pangestu, Mari Elka
Journal of Indonesian Economy and Business Vol 24, No 1 (2009): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (176.747 KB) | DOI: 10.22146/jieb.6330

Abstract

ASEAN Economic Community will be the driving force of an economic integration within ASEAN countries, and between ASEAN countries and the rest of the world. Many believe the economic integration will realize ASEAN framework as a single market and production base, to increase competitive economic region, to support more equitable economic development, and as a stepping stone toward full integration into globaleconomy. Commitments of the implementation of AEC Blueprint by ASEAN member countries will be a crucial role to achieve the objective of the ASEAN Vision, Mission, and Targets.Keywords: AEC, ASEAN, Economic Community

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