| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 137-156 |
| Abstraksi Narasi | : | This paper empirially examines the short-and long-run relationships between financial development and economic growth during the post-1997 financial crisis in Indonesia by employing a battery of times-series techniques, such as Autoregressive Distributed Lag (ARDL) model, vctor error correction model (VECM), variance decompositions (VDCs), and impulse-response functions (IRFs). Based on the ARDL (2,0,1,2) model, the study finds that there exists along-run equilibrium between economic growth and financial depth, share of investment, and inflation. In the long run, inflation is found to be the only variable which significantly (negatively) affects economic growth, implying a crucial role of maintaining a low rate of inflation in promoting the economic growth in the country.As for the dinamic casualties among the variables, the study finds the bidirectional causation between economis growth and investment, while the unidirectional causation is only found running from financial depth to investment. The finding of independence between economic growth and financial development supports the view of "the independent hypothesis" of Lucas (1988). Finally, based on VDCs and IRFs, the study documents that the variations in the economic growth respond more shocks in the price stability (inflation), followed by investment and financial development. Our finding indicate that policy makers want to promote growth, attention shpuld be focused on long-run policies, i.e, maintaining the low rate of inflation. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 187-215 |
| Abstraksi Narasi | : | The purpose of this study is to examine how leader-member exchange (LMX) similarity might affect exchange quality between coworkers. This research also investigates the relationships of LMX and CWX (coworker exchange) to employees` organizational commitment and job satisfication. Each rspondent from 76 nurses at three hospitals in Semarang were asked to rate the quality of the relationship he/she had with his/her supervisor, resulting in 76 LMX ratings. They were also asked to rate the quality of their relationships with each of their coworkers. A dyad was created where we had complete information on two employees rating one another. Once paired, a total of 146 dyads with complete LMX, CWX, and work attitude data acquired. The results of this research indicate that the inreaction between two coworkers` LMX scores predicts CWX quality is positively related to job satisfaction, but not to organizational commitment. Furthermore, after controlling for LMX, a grater diversity in a worker`s CWX relationship is negatively associated to his/her organizational commitment, but not to his/her job satisfaction. The interaction of CWX quality and CWX diversity, however, does not predict work attitude. |
| Nama Pengarang | : | R. Budi Prawoto, Tri Wikaningrum, M. Shabri Abdul Majid, Jogiyanto Hartono, Nofie Iman, Wijantini, Hardo Basuki |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 273-290 |
| Abstraksi Narasi | : | This paper aims to analize Indonesian position among the trading behavior in four selected ASEAN countries (according to their import-and-export products0 using cointegrations analysis. The demands for export and import are estimated before the monetary crisis erupted (1963-1995) using the dynamic OLS (DOLS) method. The Johansen Maximum Likelihood (JML) approach is also employed to compare the result obtained. The result show that foreign income has a significant impact on export demand, suggesting that foreign disturbance in the form of economic activities is likely to be transmitted to these countries. The Marshall learner conditions are easily met for the cases of Malaysia and Thailand (DOLS and JML). For Indonesia and the Philippines, the sum of the price elsticities of export and import demand are less than unity. This can be explained by the J-curve, in which the currency depreciations will first worsen the trade balance before it improves, and it tajes a long time to affect the trade balance. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 81-99 |
| Abstraksi Narasi | : | This study examines the causal effect of existing relationship amongst green purchasing, which are attitudinal and behavioral approaches, consumer values, ecological affect, ecological knowledge, and green purchase intention. The survey result provides a a reasonable support for the validity of the proposed model. Specifically, the finding from structural equation model confirms the influence of consumer values orientation, ecological affect, and ecological knowledge on their attitudes towards green purchase intention. The implication of this research is relevant to Indonesian government and green markers to finetune their environmental programs. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 61-79 |
| Abstraksi Narasi | : | This paper purports to study the effectiveness of financial development to Malaysian economic growth utilizing quarterly data. In view of the priority given to dinamic relationship in conducting this study, Vector Autoregressive (VAR) method which encompasses Jahansen-Juselius` Multivariate cointegration. Vector Error Correction Model (VECM), Impulse Response Function (IRF), and Varian Decomposition (VDC) are used as empirical evidence. The result reveals a short-term and long-term dynamic relationship between financial development and economic growth. The activity is proven as clear as policy implication. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 41-60 |
| Abstraksi Narasi | : | An earlier study on the determinants of inventories investment has been proposed by Lovel (1961). however, the study fails to mention the effects of financial variables. The puzzle prevails on account of imperfect ca[ital markets. This implies that interest rate generally affects inventory investment indirectly through the debt channel. For instance, in the period of tght monetary policy, increasing interest rates have a negative impact on the present value of frms` collateralizable net worth. In addition, they also weaken frim`s balance sheets as interest expenses also rise up. in imperfect capital markets, this fact indicates an increase in the amount of external financing that frims need, a rise in the premium on external financing that they face, and a reduction in their accumulation of assets, their spending and their production. Given the low adjustment cost that characterizes firms, it will be inventories that firms will finally reduce. Therefore, this paper is contributes to the isue of monetary policy transmission in Malaysia. Our specific attention is limited to the channel of monetary policy an a frim`s inventory. Using micro data, we try to take into account the relevance of the frim`s balance sheet conditions in the transmission of monetary policy. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 1-18 |
| Abstraksi Narasi | : | This study investigates the efficiency and productivity performance of the national private banks in Indonesia during the period pf 2002-2004. The data consist of 21 national private banks including two Islamic banks. Productivityis measured by the Malmquist Index using Data Envelopment Analysis (DEA) technique. Overall, the result shows that the Total Factor Production (TFP Index of the national private banks has considerably increased for the whole industry, in which technical change is fgound to be more importantsource of productivity growth to thw Indonesian banking industry compared to efficiency change. Furthermore, the result also shows that the efficiency of two Islamic banks is above the average efficiency of the national private banks. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 19-39 |
| Abstraksi Narasi | : | An event study window analysis of Data Envelopment Analysis (DEA) is employed in this study to investigate the effect of mergers and aquisitions on Singapore domestic banking groups` efficiency. The result suggest that the mergers have resulted in a higher post-merger mean overall efficiency of Singaporeean banking groups. However, from the scale efficiency perspective, our finding do not support further consolidation in the Singaporean banking sector. We find mixed evidence of the efficiency characteristics of the acquirers and target banks. Hence, the findings do not fully support the hypothesis that a more (less) efficient bank becomes the aquirer (target). In most cases, our result further confrim the hypothesis that the aquiring bank`s mean overall efficiency improves (deteriorates) post-merger resulted from the merger with a more (less) efficient bank. Tobit regresion model is employed to determine factors affecting bank performance, and the results suggest that bank profitability has a significantly positive impact on bank efficiency, whereas poor loan quality has a significantly negative influence on bank performance. |
| Nama Pengarang | : | Dilla Noverita, Fadzlan Sufian, Mohd. Azmi Omar et al, Abdul Ghafar b. Ismail, Zakaria b. Bahari, Rosilawati Amiruddin et al, M.F. Shellyana Junaedi |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 101-129 |
| Abstraksi Narasi | : | John Clements Consultants Inc. (JCCI) is long established and yhe largest consulting company in Philippines. Its main buiness focuses on human resource development, especially recruitment and training. Headquarter is in Philippines and its business has grown throughout the world, especially in the Asia- Pacific, Middle-east and United States. As multinational company, JCCI has to maintain and develop the relationship with all susidiaries effeciently. In this case, using qualitative approach and focusing on the relationship with Indonesian subsisiary, this reasearch assesses how headquarters of JCCI formulates and implements company policies governing the relationship between headquarters and subsidiaries. It explores how the headquarters controls, communicates, makes decisions, plans strategy, and gives authority to the subsidiaries. moreover, this research analyses how JCCI applies "think globally - act locally" strategy in its global operations and developing relationship with subsidiaries. It brings the issues of all challenges and obstacles the company has in dealing with subsidiaries. Finally, this research recommends alternative strategis to leverage the realtionship between headquarters and subsidiaries more efficiently and minimize the obstacles in cross-cultural management so that the company will be able to strengthen its position in global service market. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 367 - 406 |
| Abstraksi Narasi | : | This paper examines long run comovements between Malaysian stock market and the two largest stock markets in the world: the US and Japan. By employing time-series analysis.i.e., cointegration, variance decompositions, and impulse response functions, the paper seeks to investigate which market actually leads the Malaysian stock market before, during, and after the 1997 Asian financial crisis periods. The results indicate that there is a comovement of these markets only in the post crisis period. the Japanese stock market is found to significantly move the Malaysian stock market compared to U.S. stock market for the post-crisis period. At the same time, there seems to be a growing proportion of bilateral trade between Malaysia and Japan during the mentioned period. this finding seems to be consistent with the view that the stronger the bilateral trade ties between two countries, the higher the degree of comovements (Masih dan Masih 1999: Bracker et.al. 1999; Pretorius 2002; Ibrahim 2003; Kearney and Lucey 2004). our finding implies that the opportunities of gaining abnormal profits through investment diversification during the post-crisis period in the Malaysian and Japanese stock markets are dimnishing as the markets move towards a greater integration. this further implies that any development in the Japanese economy has to be taken into consideration by the Malaysian government in designing policies pertaining to Malaysian stock market. |
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