| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 53-73 |
| Abstraksi Narasi | : | Unlike prudential regulations that are put in place prospectively to develop banks, procedures for dealing with banks in distress are generally determined on an ad hoc basis. Often the lack of clarity in the policy framework creates incentives for bank managers, shareholders, depositors, and regulators that undercut prompt resolution of financial distress. The result is often inaction, the accumulation of bad debts, and ultimately the assumption of losses by the state. This article argues that governmnet intervention to relieve financial distress should be institutionalized in a set of regulations that forces the authorities to comply with reporting and decisionmaking processes. Only in this way can inherent disincentives for dealing with distress be curtailed. |
| Nama Pengarang | : | Eichengreen, Barry, Thomas Glaessner, Mas, Ignacio, Miguel Kiguel, Stephen A. O''Connell, Stephen W. Salant, Harold Alderman et al |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 75-91 |
| Abstraksi Narasi | : | In recent years suggestions for reforming the provision and financing of infrastructure services in developing countries have focused on private participation. This alternative to public financing is seen as a way both to minimize the innefficiencies of public administration and to avoid the need for external borrowing. In fact, for much of the nineteenth century, infrastructure projects were privately financed and built. This approach, however, did not obviate the need for government intervention and foreign capital. Because of the difficulties of assessing projects, investors were reluctant to commit their funds, and governments turned to subsidies and loan guarantees to encourage investment. Often, however, government intervention only replaced one set of problems with another. Investor with government-guaranteed loans had no incentive to monitor the firm`s performance-a limitation that led to the diversion of funds and frustrated the public interest. This article draws out the implications of this experience for policymakers in developing countries today. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 355-378 |
| Abstraksi Narasi | : | Investigations to determine wheter program perceived value could influence program satisfaction, program card laoyalty and store loyalty are critical to elucidate the roles and significance of the constructs and advancing management practice. Accordingly, in line with this research dirction, this study aoms to assess the effects of program perceived value offered by few leading retail superstores and departmental stores in Malaysia on its members` loyalty towards the store. The data set utilized in this study has been obtained via quota sampling technique, where a sample of 153 retail loyalty programs` members was analyzed. An integrative conceptual model was developed and tested using Structural Equation Modelling using AMOS program. The results exemplify that program perceived value is a strong driver of program satisfaction and program card loyalty. Unexpectedly, program perceived value is not a significant predictor of store loyalty but, it has an indirect effect on store loyalty mediated by program satisfaction. Continuous plea in marketing management is to make marketing instruments more efficient. In recent years introduction of customer relationship marketing instruments is strongly advocated, both in marketing theory and practice. Several researchers (e.g., Berry 1983; berry and Parasuraman 1991; and Gronroos, 1994) have changed the focus of a marketing orientation from attracting short-term, discrete transactional customers retaining long-lasting, intimate customer relationships. In fact Roberts, Varki, Brodie (2003), further suggested that it is best to describe relationship marketing as the formation of "bonds" between the company and the customer. Achieving an effective relationship in a customer context is considered to be even more challenging than it is in a business-to-business context, given the generally more polygamous character of consumers as opposed to business customers (Keng and Ehrenberger 1984; Pressey and Matthews 1998) |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 335-353 |
| Abstraksi Narasi | : | The present research examines the influence of organizational justice (distributive justice and procedural justice) on predicting job performance (task performance and contextual performance). Survey data were drawn from a sample of 136 customer-contact employees within telecommunications industry in Malaysia. results of the regression analysis illustrate that the ditributive justice alone has a significant and positive relationship with task performance. On the other hand, only procedural justice is found to be significantly and positively related to contextual performance. Implications of the findings and dirrections for future research are highlighted. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 379-408 |
| Abstraksi Narasi | : | Managing customers loyalty becomes an important activity in marketing management. One of the reasons is that loyal consumers tend to make good financial performances to producer. Unfortunately, gaining a loyal cuatomer is not a trivial activity since there are gaps to understand consumer experience comprehensively. To fulfil the gaps this article explore imaginative experience of the community who adores its idol in the light of cultural perspective. The members of the community who adore its idol experience the imaginative experience. The author argues that the phenomena are cultural perspective, because they are meaningful to the members. Through narrative-dialogic ethnography, the author bulids the concepts of imaginative experience that through the imaginative media, the members do narrative-dialogic between `the realm of areal` and `the realm of afotik` then activate the imaginative relations in `the realm of aktinik`. Every member constructs its imaginative relations into imaginative constructions formed in a personal story. Managing imaginative experience could benefit the company. It can be the `Imaginative Experience Management` (IEM) that accomodates imaginative customers` experiences with the company`s products deeply and sustainably through managing the story of its consumers` imaginative experiences. It can also be linked to the customer loyalty programs. In this matter, IEM should be integrated with brand management. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 295-334 |
| Abstraksi Narasi | : | Deskripsi abstrak ringkas tidak tersedia untuk artikel ini. |
| Nama Pengarang | : | Sumiyana, Ciptono, Wakhid Slamet, Ardianto, Eka, Aizzat Mohd. Nasurdin, Soon Lay Khuan, Nor Asiah Omar, Rosidah Musa, Muhamad Azrin Nazri |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 409-453 |
| Abstraksi Narasi | : | This study examined the behavior of stock price variability over trading and nontrading periods, and daily return volatility. This study used intraday data in Indonesia Stock Exchange. Sample was taken from the firms listed in LQ 45 indexes for the year of 1999-2006. The beahvior of stock price variability and daily return volatility, according to previous theories, is influenced by the array of public and private information. This study concludes that return varians over trading and nontrading periods, along with overnoght and lunch break nontrading session, and the first and second trading session, has differed significantly. Subsequently, this study used size, trading volume, bid-ask spreads and up-down market as control avriables. This study contradicts to all prior studies. this study especially suggests contra evidence in comparisons with previous concepts and theories in regards to size, trading volume, bid-ask spreads, and up-down market as control variables. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 217-251 |
| Abstraksi Narasi | : | By abolising the tax credit on dividends received by tax-exempt financial institutions in 1997, the effective rate of tax for share- holders such as pension funds increases significantly, and the tax preference for dividends is significantly reduced. The tax-exempt shareholders mainly consist of pension funds insurance companies with respect to their pension business. This tax-exempt community is the most influential shareholders in many U.K. cmpanies, and their tax preference for dividends may have an important impact on corporate dividend policy. The objectve of this study is to examine whether the aggregate dividend payment changes following the 1997 abolition of the tax credit. Using aggregate data in time series from 1974 to 1999, this study finds that the percentage of forecast error in Linier`s model does not change significantly between the pre- and post-abolition periods. hence, there is no evidence that aggregate dividend payment decreases following the abolition of tax credit. this could be interpreted that the aggregate sample of U.K. firms indicate a little intention of changing their divident policies in response to the abolition of tax credit. this study is also investigates whether individual U.K. companies respond to the 1997 abolition of tax credit. The test result show that the majority of companies in the sample do not change their dividend policies after the abolition of tax credit. It is posible that companies are relauctant to cut their dividend payment since existing dividend payout could be sustained in the long-run. They also avoid sending negative signals to the market. Thus, companies typically chose to keep a dividend level relatively stable following the tax change in 1997. Only minority of the U.K. companies experience a decline in their dividend payment. This evidence supports the hypothesis that the abolition of tax credit on dividends resullts in a decrease in aggregate dividend payment in order to satisfy a tax clientele. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 157-186 |
| Abstraksi Narasi | : | This paper presents quantitative estimates of the indirect costs of financial distress and its determinnts. In order to measure the cost, this study estimates the annualized changes in industry-adjusted operation profit and sales from a year before the onset of distress to the resolution year, Using those approaches, the median of indirect financial distress cost is estimated between three and 11 percent annually. To the extent that the direct cost of financial distress rduces reported operating income, the estimate costs are overstated. The simple regressions analysis suggest that the indirect cost of financial distress significantly increases with size, leverage, number of creditors, and poor industry performance, but is not related to degree of bank loan reliance. The findings provide a weak support for the financial distress theory which suggests that conflicts of interst render the cost of financial distress. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 253-272 |
| Abstraksi Narasi | : | Strategic alignment has attracted the attention of researchers and practitioners for the last 15 years. This papaer reports findings from a survey on the impacts of strategic alignment on organizational peformance in the Indonesian banking industry. The survey was conducted through internet-based and postal questionnaires sent to selected companies. Structural Equation Modelling (SEM) is utilized to apprehend the strategic allignment concept as an emergent variable derived from the co-variation of level of business strategy and level of IS/IT strategy. Hence, we explore the role of this emergent concept as a determinant of organizational performance. Analysis of the data reveals a generally positive impact towards the organizational performance. |
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