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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 7 Documents
Search results for , issue " Vol 31, No 2 (2016): MAY" : 7 Documents clear
HUMAN CAPITAL VERSUS THE SIGNALING HYPOTHESES: THE CASE OF INDONESIA Hendajany, Nenny; Widodo, Tri; Sulistyaningrum, Eny
Journal of Indonesian Economy and Business Vol 31, No 2 (2016): MAY
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (354.082 KB) | DOI: 10.22146/jieb.15290

Abstract

Education positively affects a persons income. It can be explained in two ways. Firstly, education directly increases the productivity of a person, which is in accordance with the views of the theory of human capital. The second way is an indirect effect, in which education acts as a sign (signal) of a worker’s unobserved characteristics, as assessed by an employer who is considering hiring the person. This is consistent with the view of the signaling theory. Both views are often debated in literature. This paper examines the returns to education in Indonesia, separating out the credential effects from the pure years of schooling effects. We used survey data from the Indonesian Family Life Survey (IFLS) 2000, 2007, and 2014 to test the difference of the two theories in estimating the returns to education in Indonesia. This study used three models which consisted of the human capital model, the signaling model, and the hybrid model. The human capital model used the number of years of schooling as a variable representing education, the signaling model used dummy variables from the level of education achieved (elementary school, junior high school, senior high school, diploma, university), and the hybrid model combined both measures of the variables. The hybrid model allows for the separation of the impact of human capital based on an additional year of schooling, and the impact of signaling by the accomplishment of a particular certificate. The results of the study provide strong evidence of the presence of the returns to education either through the human capital or the signaling theories. Keywords: education, human capital, signaling, returns to education 
THE EFFECT OF BUDGETS’ PROPORTION AND NON-FINANCIAL FACTORS ON THE AUDIT RESULTS OF LOCAL GOVERNMENTS’ FINANCIAL STATEMENTS IN INDONESIA Nurdiono, Nurdiono; Sugiri, Slamet; Halim, Abdul; Gudono, Gudono
Journal of Indonesian Economy and Business Vol 31, No 2 (2016): MAY
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (335.507 KB) | DOI: 10.22146/jieb.15288

Abstract

Local governments’ financial statements that obtain unqualified opinion until the end of 2011 were still relatively few in number. This study aims to empirically examine the effect on the audit results of the financial statements of local governments in Indonesia of the budgets’ proportion, the effectiveness of the internal audit, the follow-up to the Supreme Audit Board’s findings, the Supreme Audit Board’s opinions from earlier periods, and the competence of the available human resources to understand the audit results of the Supreme Audit Board. Budget management has become very important since it lays out a detailed plan for the expenditure and revenue of the local governments, so that it can be accountable to the public. This study used a sample of 434 Indonesian Local Governments’ financial statements of 2011 and a logistic regression analysis. This study used primary and secondary data to uncover the phenomena that the local governments’ financial statements which received an unqualified opinion from the Supreme Audit Board were still relatively few in number. The results of this study showed that the budgets’ proportions of local governments are negatively significant in affecting the audit results of the financial statements of the local governments. The Supreme Audit Board’s opinions from earlier periods positively influenced the audit results of the financial statements of local governments. Whereas the variables of the effectiveness of internal controls, the follow-up to the Supreme Audit Boards’ findings, and the competence of the human resources do not significantly influence the audit results of the financial statements of local governments. The results of this study can contribute both theoretically and practically to the quality of the local governments’ financial statements. Keywords: budgets’ proportion, human resources, competency, opinions, audit quality. 
IN DEFENSE OF A LIBERAL EDUCATION Nugroho, Wisnu Setiadi
Journal of Indonesian Economy and Business Vol 31, No 2 (2016): MAY
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (62.727 KB) | DOI: 10.22146/jieb.23562

Abstract

A book review dealing with the liberal arts importance and the critiques made on the discipline taught in academic curriculum. The followings are the data about the book:Keyword:Education, Liberal Arts, American Education SystemPublisher:W.W. Norton & Company. Inc. 2015. New YorkLength:200 pagesPrice:$23.95 (hardcover)Reading rating:8 (1 = very difficult; 10 = very easy)Overall rating:3 (1 = average; 4 = outstanding)
CONTAGIOUS EFFECTS OF OIL PRICES ON ASIAN STOCK MARKETS’ BEHAVIOUR Wan, Jok-Tong; Lau, Evan; Brahmana, Rayenda Khresna
Journal of Indonesian Economy and Business Vol 31, No 2 (2016): MAY
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (654.823 KB) | DOI: 10.22146/jieb.15275

Abstract

The main objective of this study is to examine the stock markets’ shock due to the effect of the price of oil in the East Asia Region. Particularly, this study examines if there is stock market interdependence during global oil price shocks (sudden changes) for a sample of five total oil importers (the Philippines, Hong Kong SAR, Taiwan, South Korea, and Japan), four net oil importers (Indonesia, Singapore, Thailand, and China), and one net oil exporter (Malaysia) between 1999 and 2014. From the result, an oil price change is collectively found to have a small but significant positive impact on the stock markets, in particular where a sudden decrease in oil prices tends to cause a stock market downturn and volatility. The world economy’s spending, financial investments in oil futures and foreign investment by oil rich nations are some underlying motives for inducing this oil-stock positive relation. The same direction of time-varying conditional correlations is found across East Asian stock markets during negative oil price shocks. The integration among East Asian stock markets is inducing the oil shock contagion to be transmitted from direct oil-affected countries (South Korea, Hong Kong, and Singapore) to non-direct oil affected countries’ (Japan and Taiwan) stock markets. In spite of a long practiced ASEAN+3 macroeconomics surveillance process and Early Warning System (EWS) which can be customized for stock markets to prevent or detect the oil risk, hedging against initial oil-affected stock markets and a stronger influence by the East Asian countries in the global world of oil and capital investment are strongly suggested.Keywords: oil price; capital market integration; stock market behaviour
HOUSEHOLD FOOD DEMAND IN INDONESIA: A TWO-STAGE BUDGETING APPROACH Widarjono, Agus; Rucbha, Sarastri Mumpuni
Journal of Indonesian Economy and Business Vol 31, No 2 (2016): MAY
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (354.215 KB) | DOI: 10.22146/jieb.15287

Abstract

A two-stage budgeting approach was applied to analyze the food demand in urban areas separated by geographical areas and classified by income groups. The demographically augmented Quadratic Almost Ideal Demand System (QUAIDS) was employed to estimate the demand elasticity. Data from the National Social and Economic Survey of Households (SUSENAS) in 2011 were used. The demand system is a censored model because the data contains zero expenditures and is estimated by employing the consistent two-step estimation procedure to solve biased estimation. The results show that price and income elasticities become less elastic from poor households to rich households. Demand by urban households in Java is more responsive to price but less responsive to income than urban households outside of Java. Simulation policies indicate that an increase in food prices would have more adverse impacts than a decrease in income levels. Poor families would suffer more than rich families from rising food prices and/or decreasing incomes. More importantly, urban households on Java are more vulnerable to an economic crisis, and would respond by reducing their food consumption. Economic policies to stabilize food prices are better than income policies, such as the cash transfer, to maintain the well-being of the population in Indonesia Keywords: Urban, Two-Stage Budgeting, QUAIDS, Price and Income elasticity 
MOTIVATION FOR INDIVIDUALS’ INVOLVEMENT WITH FAN PAGES Abdillah, Willy
Journal of Indonesian Economy and Business Vol 31, No 2 (2016): MAY
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (353.561 KB) | DOI: 10.22146/jieb.15292

Abstract

This research examines the empirical model of individuals’ involvement with fan pages. The research model was developed based on the social influence factors and the brand post popularity model. The research employed an online survey questionnaire. 300 samples were collected by using a purposive sampling technique, and analyzed using the Partial Least Square (PLS) method. The results showed that identification, interactivity, informational content and valence of comment were the motivating factors for the intent to become involved with fan pages. It was indicated that the brand popularity model was not the only relevant model to explain the social computing phenomenon in the context of fan pages, but social influence factors also play a part. The implications for stakeholders and further research are discussed. Keywords: Social influence factors, brand post popularity factors, intention, and involvement with fan pages
THE EFFECT OF INDIVIDUAL MORALITY AND INTERNAL CONTROL ON THE PROPENSITY TO COMMIT FRAUD: EVIDENCE FROM LOCAL GOVERNMENTS Puspasari, Novita; Suwardi, Eko
Journal of Indonesian Economy and Business Vol 31, No 2 (2016): MAY
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (322.482 KB) | DOI: 10.22146/jieb.15291

Abstract

This paper aims to examine the influence of individual morality and internal controls on individuals’ propensity to commit accounting fraud at the local government level. This is a quasi- experimental research paper. Individual morality and internal controls are hypothesized to be having an interaction with each other in influencing the propensity to commit accounting fraud. Individuals who have low levels of moral principles are hypothesized to have the tendency to commit accounting fraud in the absence of any internal controls. To test this, a 2x2 factorial experiment was conducted involving 57 students from the Masters in Economics Development programme at Gadjah Mada University. The result shows that there is an interaction between individual morality and internal controls. The absence of internal controls does not cause an individual with high moral principles to commit accounting fraud. However, individuals with low morality levels tend to commit accounting fraud when internal controls are absent. Keywords: Accounting Fraud, Morality, Internal Controls, Local Government

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