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Wuri Handayani, Ph.D.
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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 12 Documents
Search results for , issue "Vol 20, No 1 (2005): January" : 12 Documents clear
DO ACCOUNTING STANDARDS EXPLAIN DIFFERENCES IN EARNINGS-PRICE RATIOS OF JAPANESE AND U.S. FIRMS? Kusuma, Indra Wijaya
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This study examines the variation in earnings-price ratios across Japanese and U.S.firms. Previous literature documents that Japanese firms have consistently lower earnings-price ratios than U.S. firms. The differences in earnings-price ratios have been primarilyattributed to differences in Japanese and U.S. accounting standards. However, Aron(1991)and French and Poterba (1991) provided a conflicting evidence on the argument ofaccounting standards that are the only cause of the differences in earnings-price ratios Theobjective of this study is to examine the issue that Japanese firms lower earnings priceratios is attributable to the differences in the accounting standards..The results show that adjusting Japanese earnings does not entirely eliminate thedifferences in the earnings-price ratios between Japanese and U.S. firms. On the average,the accounting standard differences account for 52 percent of the differences in theaverage earnings-price ratios of Japanese and U.S. firms.Controlling for differences in accounting standards does not eliminate the differences inthe earnings-price ratios of the Japanese and U.S. firms. It is appropriate to conclude thatalthough differences in accounting standards occur between Japanese and U.S. firms, it isnot the only factor that contributes to the differences in the earnings-price ratios ofJapanese and U.S. firmsKeywords: Earnings price ratio, Japanese earnings adjustment, U.S. firms, Japanese firms.
PENGARUH KOMITMEN ORGANISASI, KEINGINAN SOSIAL, DAN ASIMETRI INFORMASI TERHADAP HUBUNGAN ANTARA PARTISIPASI PENGANGGARAN DENGAN KINERJA MANAJER Supriyono, R. A. Supriyono
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This study investigates the influence of organizational commitment, social desirability,and information asymmetry on the relationship between budgeting participation andmanager performance. The previous results of such relationship indicate inconsistency. Tounderstand such relationship contingency approach is needed. Contingency approach is anidea that such relationship is suspected to be influenced by various factors or variableswhich are conditional and called moderating variables. This study analyzes the influence oforganizational commitment, social desirability, and information asymmetry on therelationship between budgeting participation and manager performance.To test such relationship survey questionnaires are used. The questionnaires were sentto the manager of goi public companies in Jakarta Stock Exchange (JSX). Moderatingregression analysis (MRA) was applied to test the objective of the research. The test resultsindicate that: (1) budgeting participation and manager performance have positiverelationship and statistically significant, (2) organizational commitment, social desirability,and information asymmetry has positive and statistically significant influence on therelationship between budgeting participation and manager performanceKeyword: budgeting participation, organizational commitment, social desirability, information asymmetry, and manager performance.
ANALISIS DAMPAK STRUKTUR KEPEMILIKAN PADA KEBIJAKAN HUTANG DALAM MENGONTROL KONFLIK KEAGENAN Masdupi, Erni
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This study examines the impact of ownership structure and some control variables on corporate debt policy (debt ratio) in an agency theory context. Control variables are dividend payment, firm size, asset structure, firm profitability and tax rate. This study is based on the previous study by Moh’d et al., (1998), which found that ownership structure of the firms’s equity (insider ownership, shareholder dispersion and institutional investor) is important in explaining corporate debt policy in a agency theory context.This study is focused on all firm listed on Jakarta Stock Exchange, except financial and insurance firms from 1992 to 1996. The method of analysis is using pooling. The method of data collection is purposive sampling. There are 100 firms year observation.The result of the study shows that insider ownership and institutional investor to be significant and negative determinant of the corporate debt policy (debt ratio). It also indicates that shareholder dispersion is insignificant determinant of debt ratio.Keywords: Debt Ratio, Ownership Structure, Agency Theory, Insider Ownership, Shareholder Dispersion and Institutional Investor.
PERKEMBANGAN EKONOMI REGIONAL DAERAH ISTIMEWA YOGYAKARTA TRIWULAN IV-2004 Sumartono, Djarot; A.W., Herdiana; Moesa, Ameriza M.; Jatna, Mardianto
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

Economic performance of Yogyakarta Province in the fourth quarter of 2004 (QIV-2004) tended to decrease slightly, as reflected by negative growth of Gross DomesticRegional Product (GDRP) of -6.92%, in line with the initial forecast. The negative growthof the regional economy was mainly attributable to the developments of three economicsectors during QIV-2004, these are (i) Agriculture sector, (ii) Finance, Ownership, andBusiness Service sector, (iii) Services sector. Based on GDRP negative growth ofYogyakarta Province in the past three quarters, it is predictable that the economy in theyear 2004 could be able to grow at estimated rate 4,88%, which is higher than previousyear economic growth. On the other hand, overall inflationary pressure in Yogyakarta Cityrose, indicated by quarterly inflation of Consumer Price Index (CPI) of QIV-2004 was2.66% (quarter to quarter) and cumulative CPI inflation through December 2004 was6.95% (year to date), higher than National CPI inflation (6.40%). The inflationary pressure particularly during QIV-2004 was driven by increased domestic demand due to a seasonal factor of religious events i.e. Idul Fitri, Christmas Eve and New Year Eve. Meanwhile, in general banking performance consisting of commercial & rural banks during QIV-2004 was relatively stable, despite of slightly decreased banks’ asset and deposits as of November 2004 which is recorded 1.00% and 1.35% respectively. In contrast, total credits grew from Rp4,699 billions (Sept’04) to Rp5,013 billions (Nov’04) as well as NonPerforming Loans Ratio somewhat declined from 2.50% to 2.45.%.Keywords : economic growth, CPI inflation and banking performance.
APAKAH LOKASI MENENTUKAN KESUKSESAN BISNIS? KASUS BISNIS APOTEK DI YOGYAKARTA DAN SURAKARTA Indarti, Nurul; Wahyudi, Erlisetya; Chandra, Ramelan
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

This study aims to identify location factors of pharmacy business and their associationwith business success. Respondents of survey are 82 pharmacy businesses in Yogyakartaand Surakarta. Regression analysis reveals that there are five location factors that havesignificant relationship with business success. These factors are proximity to main road,proximity to hospital/clinics, availability of business venue, proximity to housing, and beingin business centre. Altogether these factors explain 49.8% of total variance. In addition tofavourable location, other factors are also identified to be important in the pharmacybusinesses. These factors include complete assortment of medicines, affordable prices,relationship with doctors, and customer service related factors.Keywords: location factor, business success, pharmacy business.
ANALISIS KANDUNGAN INFORMASI DAN EFEK INTRA INDUSTRI PENGUMUMAN STOCK SPLIT YANG DILAKUKAN OLEH PERUSAHAAN BERTUMBUH DAN TIDAK BERTUMBUH Almilia, Luciana Spica; Kristijadi, Emanuel
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

The objective of this research is to examine empirically about the information contentand intra industry effect of stock split announcement. The analysis include three aspects:information content, risk (beta) and intra industry effect of stock split announcement bygrowth firm and not growth firm.The sample of this research is 79 reporter firm (consist of 59 growth firm and 20 notgrowth firm) and 166 non reporter firms during the period of 1997 – 2002. The result ofthis research show that stock split has information content which is negatively respondendand statistically significant responded by the market around the date of stock splitannouncement. The difference between beta growth firms and not growth firms after stocksplit announcement is significant. The intra industry effect of stock split announcement iscompetitive effect.Keywords: stock split, intra industry effect, competitive effect, information content
ANALISIS DAMPAK STRUKTUR KEPEMILIKAN PADA KEBIJAKAN HUTANG DALAM MENGONTROL KONFLIK KEAGENAN Masdupi, Erni
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6515

Abstract

This study examines the impact of ownership structure and some control variables on corporate debt policy (debt ratio) in an agency theory context. Control variables are dividend payment, firm size, asset structure, firm profitability and tax rate. This study is based on the previous study by Moh?d et al., (1998), which found that ownership structure of the firms?s equity (insider ownership, shareholder dispersion and institutional investor) is important in explaining corporate debt policy in a agency theory context.This study is focused on all firm listed on Jakarta Stock Exchange, except financial and insurance firms from 1992 to 1996. The method of analysis is using pooling. The method of data collection is purposive sampling. There are 100 firms year observation.The result of the study shows that insider ownership and institutional investor to be significant and negative determinant of the corporate debt policy (debt ratio). It also indicates that shareholder dispersion is insignificant determinant of debt ratio.Keywords: Debt Ratio, Ownership Structure, Agency Theory, Insider Ownership, Shareholder Dispersion and Institutional Investor.
ANALISIS KANDUNGAN INFORMASI DAN EFEK INTRA INDUSTRI PENGUMUMAN STOCK SPLIT YANG DILAKUKAN OLEH PERUSAHAAN BERTUMBUH DAN TIDAK BERTUMBUH Almilia, Luciana Spica; Kristijadi, Emanuel
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6562

Abstract

The objective of this research is to examine empirically about the information contentand intra industry effect of stock split announcement. The analysis include three aspects:information content, risk (beta) and intra industry effect of stock split announcement bygrowth firm and not growth firm.The sample of this research is 79 reporter firm (consist of 59 growth firm and 20 notgrowth firm) and 166 non reporter firms during the period of 1997 ? 2002. The result ofthis research show that stock split has information content which is negatively respondendand statistically significant responded by the market around the date of stock splitannouncement. The difference between beta growth firms and not growth firms after stocksplit announcement is significant. The intra industry effect of stock split announcement iscompetitive effect.Keywords: stock split, intra industry effect, competitive effect, information content
APAKAH LOKASI MENENTUKAN KESUKSESAN BISNIS? KASUS BISNIS APOTEK DI YOGYAKARTA DAN SURAKARTA Indarti, Nurul; Wahyudi, Erlisetya; Chandra, Ramelan
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6563

Abstract

This study aims to identify location factors of pharmacy business and their associationwith business success. Respondents of survey are 82 pharmacy businesses in Yogyakartaand Surakarta. Regression analysis reveals that there are five location factors that havesignificant relationship with business success. These factors are proximity to main road,proximity to hospital/clinics, availability of business venue, proximity to housing, and beingin business centre. Altogether these factors explain 49.8% of total variance. In addition tofavourable location, other factors are also identified to be important in the pharmacybusinesses. These factors include complete assortment of medicines, affordable prices,relationship with doctors, and customer service related factors.Keywords: location factor, business success, pharmacy business.
DO ACCOUNTING STANDARDS EXPLAIN DIFFERENCES IN EARNINGS-PRICE RATIOS OF JAPANESE AND U.S. FIRMS? Kusuma, Indra Wijaya
Journal of Indonesian Economy and Business Vol 20, No 1 (2005): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6564

Abstract

This study examines the variation in earnings-price ratios across Japanese and U.S.firms. Previous literature documents that Japanese firms have consistently lower earnings-price ratios than U.S. firms. The differences in earnings-price ratios have been primarilyattributed to differences in Japanese and U.S. accounting standards. However, Aron(1991)and French and Poterba (1991) provided a conflicting evidence on the argument ofaccounting standards that are the only cause of the differences in earnings-price ratios Theobjective of this study is to examine the issue that Japanese firms lower earnings priceratios is attributable to the differences in the accounting standards..The results show that adjusting Japanese earnings does not entirely eliminate thedifferences in the earnings-price ratios between Japanese and U.S. firms. On the average,the accounting standard differences account for 52 percent of the differences in theaverage earnings-price ratios of Japanese and U.S. firms.Controlling for differences in accounting standards does not eliminate the differences inthe earnings-price ratios of the Japanese and U.S. firms. It is appropriate to conclude thatalthough differences in accounting standards occur between Japanese and U.S. firms, it isnot the only factor that contributes to the differences in the earnings-price ratios ofJapanese and U.S. firmsKeywords: Earnings price ratio, Japanese earnings adjustment, U.S. firms, Japanese firms.

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