| Nama Pengarang | : | Sari Wahyuni, Pervez N. Ghauri, Theo J.B.M. Postma, Gumanti, Tatang Ary, Catur Sugiyanto, Ahmad Yunianto, Johnny Jermias, A. Harijono, Mahfud Sholihin, Chong M. Lau, Sugiri, Slamet |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 273-299 |
| Abstraksi Narasi | : | Empirical research indicates that strategic alliances, like other organisational forms, emerge as an adaptive mechanism to market uncertainty, and their developments over time reflect the co-evolution of distinctive firm capabilities and of industry and market activities. Interestingly, most strategic alliances go through similar coevolutionary cycles in terms of their motives and capabilities toward the cooperative relationship. Studies in this area show that alliance failure is an outcome of the co-evolutionary adjustment to changes in the market, the competitive dynamics between partners, and assessment of efficiency of the alliance as an alternative governance structure. It is thus critical to adopt a dynamics perspective and historical observations of cooperative process. This paper attempts to distil, derive and integrate theories across different perspectives into a unified framework that offers a better understanding of alliance process development. Our analysis shows that we can divide strategic alliance development into three phases of development: formation, operation abnd evaluation. we further endeavour to seek the important factors that should be taken into account in each stage of their life. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 221-247 |
| Abstraksi Narasi | : | This paper attempts to examine which theory is best in explaining the geographic concentration in Java, an Island in which most of the Indonesia`s large and medium manufacturing industries have located overwhelmingly. Using the regional specialization index as a measure of geographic concentration of manufacturing industry and pooling data over the period 1991-1996, our econometric analysis integrates the perspectives of industry, region (space), and time. The most striking result it that most of the NCT (Neo-Classical Theory) hypotheses can be rejected. Moreover, most of the findings support the NTT (New Trade Theory) and NEG (New Economic Geography). Our findings suggest that manufacturing firms in Java seek to locate in more populous and densely populated areas to enjoy both localization economies and urbanization economies, as shown by the significance of scale economies and income per capita. The interplay of agglomeration economies and income per capita. The interplay of agglomeration economies is intensified by the imperfect competition of Java`s market structure. This paper gives empirical evidence with respect to path dependency hypotheses. This finding supports the NEG`s belief that history matters: older firms tend to enhance regional specialization. In addition, the results as shown by statistical significance of its regional dummy, suggest that most of the specialized industries in Java have better access to infrastructure. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 167-188 |
| Abstraksi Narasi | : | Partnership with suppliers is becoming a critical activity in retail industry to strengthen their competitive position. However, evidence suggested that partnership efforts do not reach their potential due to the effect of external factors. This article presents a comprehensive model that depicts the links among the supplier partnership, environmental variables and firm performance. Data for testing the model were collected by sending a questionnaire to a sample of retail industry in Indonesia. Hypothesized links depicted in the research model were tested using structural equation modeling. The findings show that supplier partnership affects positively firm performance measurement. The empirical results suggest that the effect of environmental variables on supplier partnership is: market turbulence has a positive effect, competitive intensity and demand volatility have a negative effect. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 189-206 |
| Abstraksi Narasi | : | This article elaborates consumption paradigm in marketing. In background, this paper reviews different perspectives of consumption: economic perspective and marketing perspective. In ontology, this work describes various issues regarding consumption view. In epistemology, this article demonstrates how marketers especially researchers explore the consumption phenomena. In methodology, it offers many choices of method coul be used. Finally in axiology, the article describes experiential marketing -one of applied consumption paradigm in marketing, which could be an alternative choice of marketing practices. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 207-219 |
| Abstraksi Narasi | : | This paper is an attempt to explain the processes and outcomes of customer services levels and how they shape customer perceptions (of their relationship with services providers) and reactions. As an entirely conceptual work, this paper proposes a model for understanding the pathway and the end of good and bad customer service. Implications of the study on theory and practice are discussed. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 131-144 |
| Abstraksi Narasi | : | This paper expaounds action learning for effective change leadership development using the learning-teaching helixas a paradigm for individual`s introspection. Which consists of five phases-Awareness phase (ascertain your strengths and weaknesses), Alignment phase (identify your core competence), Action phase (synthesize your work, business and management skills), Adoption phase (becoming a leader) and Assurance phase (excel as an educator cum coach). In addition, to succeed, the individual has to plan, strategize, priorotize and integrate. As a holistic manager the individual needs to think, feel and do to evolve from continuous innovation in organizational performance capabilities. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 249--269 |
| Abstraksi Narasi | : | This paper reviews and summarizes previous works and the rationale for the proposition that accounting information is in fact value relevant in the determination of an initial public offering (IPO). Theoretical and empirical evidence has indicated that certain accounting measures can be used as proxies for total firm risk, that is, they could determine the riskiness of a corporation. The literature also advocates that accounting information is relevant in determining the value and thus the riskines of a corporation through the use of accounting analysis. Since most of the information available in the prospectus in accounting information, it is arguable that this information represents a potential source for assessing the issuing firm. Some scholars have also advocated the possibility of using accounting information in assessing the value of firm making an IPO. Numerous papers have provided analytical and empirical evidence of the association between accounting numbers and the value of IPOs. The conslusion generally comes to show that information in the prospectus is value relevant concerning the IPO. The paper shows that it is indeed and arguable to use accounting information in the valuation of an IPO. Accordingly, it is an empirical issue whether accounting information has the property in explaining the ex ante uncertainty of an IPO. |
| Nama Pengarang | : | Ratnaningsih, Dewi, Jogiyanto Hartono, Gumanti, Tatang Ary, K.C. Chan, Teddy Pawitra, Nelson Oly Ndubisi, Ardianto, Eka, Agus W. Soehadi, Mudradjad Kuncoro |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 145-166 |
| Abstraksi Narasi | : | This study explains the dividend puzzle using the agency-cost framework suggested by Easterbook (1984). Easterbook hypothesized that shareholders in firms, who increase cash dividend payout and simultaneously raise debts to finace their investments are likely to be wealthier than those in firms who only increase their cash dividend payout. He provided the mechanism that shareholders use the dividend payments to force managers to go to the capital markets to raise funds. Therefore, he argued that dividend policy influences the financing policy. A system of simultaneously equation using three-stage generalized least square method is used to test the hypotheses. Among the variables to proxy the investment opportunity set, market-to-book ratio are the best proxies. Attempt is made to obtain better proxies for the investment opportunity set using an instrument variable method. The system is robust to alternate investment opportunity variables as well as to the instrumental variables. The findings are as follows. For the firms that increase cash dividend payout and raise debt simulatneously, (a) dividend policy is not a shareholders` mechanism, but a manager`s accounting-based decision with accounting earnings and retained earnings as the major determinants, (b) dividend policy influences financing policy, but not the other way arround, (c) increasing dividend payment decreases shareholders` wealth, but increasing debt subsequently increases shareholders` wealth with a net effect positive to shareholders` wealth, and (d) dividend policy is independent from investment policy. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 109-128 |
| Abstraksi Narasi | : | This article attempts to identify the key factors that underpin the success of firms in condition of economic distress. Such factors encompass astute management with the skill and experience in a variety of competitive moves and maneuvers; adoption of low-cost-lowprice strategies; more use of scenario planning rather than mere replication of past company actions; sufficient liquidity to exploit opportunities availed by economic downturn; and exploiting the advantages of knowledge management. Better incorporation of information technology, proper use of currency risk management methods, smart globalization that incorporates both government and nongovernment elements, favors the formation of joint ventures with local businessmen, and investment of ample time in the understanding the customs, values, and traditions of local societies elevate company`s competitive advantages over rivals which enhances the company`s capacity to deal with economic distress. It is incontrovertible, however, that the success of firms must be backed by strong and appropriate macroeconomic management by governments with respect to fiscal, monetary and trade policies. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 57-77 |
| Abstraksi Narasi | : | Scholes and Wolfson (1992) predict that following the 1986 Tax Reform Act, the tax cost of the corporate form relative to that of the partnership form (the incremental tax cost) increased significantly. This study hypothesizes that since dividends represent tax disadvantaged form of income relative to capital gains, then in response to an increase in incremental tax costs, corporations would decrease their dividend payout ratios. The response is expected to be stronger for corporations owned by shareholders with long investment horizons because the tax cost saved from decreasing dividend payout ratios is an increasing function of shareholders` investment horizon. The empirical tests support the hypothesis and show a negative relationship between the change in incremental tax costs and the change in dividend payout ratios for firms with long average investment horizons. |
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