| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 91-115 |
| Abstraksi Narasi | : | This paper investigates whether full cost (FC) and successful efforts (SE) accounting methods differ in their ability to provide earnings information to users through the use of quarterly forecasts of earnings per share (EPS). Specifically, this study compares the accuracy of financial analysts and mechanical models in forecasting quarterly EPS`s. This paper also examines whether the superiority of analyst forecasts over the mechanical forecasts found in previous studies is relevant and consistent in the oil and gas industry with respect to the accounting choice. Using quarterly actual and forecasted EPS`s data from 1991 through 1993 from the Institutional Brokers Estimates Systems (IBES) database, this study finds that forecats by analysts for FC firms are in general more accurate than forecasts for SE firms by any measure of errors for one-quarter through four-quarter ahead forecast horizons. This finding implies that the recommendation to abolish the FC method to account for exploration costs in the oil and gas industry may be inappropriate in terms of its usefulness to provide information to the market. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 17-30 |
| Abstraksi Narasi | : | The role of change agents in technological diffusion and innovation at firms level has been addressed in published litarature mostly within the context of the developed countries. However, the involvement of change agents in the diffusion and adoption of IT-based innovations by small and medium-sized firms in the developing countries is largely unexplored. The main research questions are why and how management decisions to adopt and use IT are influenced (if any) by the interactions of key people in firms with several identified change agents. Case studies are used as the preferred approach to answer the research questions and to understand the qualitative aspects of IT diffusion at the level of the firms. The study concludes that IT diffusion in small and medium-sized firms expose mixed institutional influences. The mechanism by which change agents are involved in IT diffusion is also unique and is claimed to be different from that is generally found on other studies in this area. Some policy implications are proposed by this study. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 67-89 |
| Abstraksi Narasi | : | This paper presents the results of a survey questionnaire used to investigate the effects of organization`s level of is evolution on the relationship between influence factors and AIS performance. This study focused on user involvement, user capability, management support, organization size and formalization of IS development as influence factors and on user AIS satisfaction and user system usage system usage as surrogates of AIS performance. This research considers the level of IS evolution of a company which is determined using stage hypothesis model as a moderating variable that affects the relationship between influence factors and AIS performance. The IS evolution stages were grouped together into prior and posterior stages and the questionnaire prepared for this study was constructed to measures the overall work environment and is to be completed by the manager of the IS departement (or equivalent). A total of forty-five completed questionnaires was received and the main findings of this study indicated that (1) user involvement for the success of AIS is more important in posterior stage of IS, and (2) in general , the benchmark variables in the stage hypotesis model which were used to measure the organization`s level of IS evolution, failed to classify firms into a stage. Another interesting finding suggested that the stage of growth, which was determined, based on data processing organization and user awareness benchmarks had similar effects on influence factors. Therefore, these benchmarks perhaps still appropriate to be used to determining the level of IS evolution of a company. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 1-16 |
| Abstraksi Narasi | : | Globalization is the intensification of the spatial organization of social relations and transactions, which put distant localities and local activities at a level of worldwide range, consequence and significance. These actives cluster into new reality like a globally operating market system and a globally developing technoscience. The question is to what extent a global civil society will come about too. At the level of internationally operating firms management styles will have to be developed to enhance the understanding of cultural heterogenity within this global civil society. Cultural complexity will increase due to the intensification of interactions and transactions. Within and between internationally operating firms. Communicative rationality in terms of dialogue and conversations should be reinforced to deal adequately with this complexity. Communicative rationality perceives language not only as a mere representation of an objective reality but also as a human practice in a social context. Firms operating as communities of practice will enhance through proper management styles the reciprocal understanding we need in a world economy. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 31-43 |
| Abstraksi Narasi | : | The separation of ownership and control in modern corporations creates two parties namely the managers who are the agents and the owners who are the principals. Usually, the agents do not work in the interests of the principals, which leads to the equity agency conflict. Agency theory suggests several ways of reducing this agency conflict which include increased insider ownership, debt policy and dividend policy among others. Several researches on these three policies have revealed an interdependent relationship among them. This study builds on this relationship to test whether the financial policies - debt and dividend policies can be substitutes for increased insider ownership in an effort to control agency conflict. Using a simultaneous equation analysis on cross sectional firm data, the results indicate that substitutability between debt and insider ownership occurs, but not such relationship was found between dividend and insider ownership. This is supported by the non-monotic relationship between dividend policy and insider ownership. The findings also point to the fact that in a bid to control equity agency conflict, the use of debt exacerbates the debt agency conflict. |
| Nama Pengarang | : | Abdul Rahim Abdul Rahman, Tandelilin, Eduardus, Turyasingura Wilberforce, Luchien Karsten, Soegiharto, Utomo, Hargo, Suwardjono, Basu Swastha Dharmmesta |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 117-126 |
| Abstraksi Narasi | : | This paper attempts to firstly, review the modern concept of corporate accountability especially within the context of classical economic view. The article will also examine the alternative models of corporate accountability as emerged for the past few years. The second objective of this paper is to give some insights into the present debates on accountability by synthesizing the relevance of Islamic concepts of morality in the context of modern corporations. Insights from the Islamic values suggest that it is no longer sufficient for accountability to be understood in the context of secular principal-agent and classical economic viewpoints. There are needs of acceptance by individuals and corporations as moral agents, to accept an obligation beyond worldly matters and encompasses the universal rights and goodness. The study of Islam provides a different dimension on accountability, whereby, the debates on corporate accountability need to start on values, not on standards, and on responsibilities not on rules. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 367-378 |
| Abstraksi Narasi | : | This study evaluated performance of various stocks portfolios that are formed with the use of accounting and market data such as Price Earnings Ratio (PER), Price to Book Value (PBV), Price to Sales Ratio (PSR), and Return on Equity (ROE) in the Jakarta Stock Exchange over the period of 1993 to 1998. Each portfolio consists of 25 equally weighted stocks and is formed besed on the level of PER, PSR, and ROE.The portfolio is also categorized based on their market capitalization. Various measures of performance are amployed to evaluate the portfolios. The results show that the performance of portfolio with low PER< PBV, and PSR is much better than that of heigh PER, PBV, and PSR. Further, the performance of large capitalization portfolios generally is worse than that of other portfolio. Finally, portfolios with high ROE tend to perform well, regardless of their capitalization. Our indings suggest that investors can generate superior returns by employing accounting market information. The results may also indicate some form of market inefficiency in the Jakarta Stock Exchange. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 349-366 |
| Abstraksi Narasi | : | This research intends to analyze the existence of Negative Earnings Effect on the Jakarta Stock Exchange. The Negative earnings Effect Hypothesis (NEEH) says that firms which announce negative Earnings per share (EPS) on their financial statement at the end of the year, will recover their condition and return to profitable operations and will be able to produce sigbificantly large, positive abnormal returns from their stocks in the subsequent year. The NEEH also argues that these firms reporting negative earnings will, in the year after the announcement, outperform firms reporting positive earnings by making larger earnings (EPS) changes. The NEEH argues that due to the loss announcement, the market does not anticipate this recovery possibility and misses a big invesment opportunity. The NEEH posits that by simply buying a loss-firm`s stock, one will earn a larger positive abnormal return in the following year. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 239-267 |
| Abstraksi Narasi | : | The Indonesian government has reduced its export taxes on the palm oil industry. The magnitude of the changes and their distributional consequences of the tax removal are impirical issues, and are uncertain in both short-and long-term. This paper estimates the impact of the elimination of the crude palm oil export tax on the Indonesian palm oil and coconut oil sectore. We constructed a model of Indonesian palm oil and coconut oil markets which includes relationships to explain: plantings, supply, demand, and exports. These relationships are somewhat unique in that these markets are modeled directly incorporating export taxes in the export function, and by using an inverse demand for cooking oils. We have investigated the use of time series procedures to specify the form of the statistical relationships. These estimated relationships were assessed using battery misspecification tests comparing their consistency with the underlying market structure, examining the findings from previous research, and evaluating their ability to provide more accurate representation of the market than traditional spectifications. After linearizing the estimated models, we measured the effect of removing the export tax in the palm oil market on the palm and coconut oil markets. The expport of crude palm oil increased immediately after the export tax was removed, decreased the availability of crude palm oil in the omestic market, reduced the amount of palm cooking oil produced, and increased the palm cooking price. The removal of the export tax also affected the coconut oil market, in such a way that it increased the price of coconut oil and increased the production of coconuts. Overall, the total quantity of cooking oil consumed and the total expenditure of cooking oil decreased, so did the supply of palm oil and coconut oil. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Gadjah Mada International Journal of Business |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 269-295 |
| Abstraksi Narasi | : | Although a number of economists and business strategists have recently become more interested in spatial analysis, very few has examined the phenomena of regional clusering in Indonesia using provincial and municipal data simultaneously. Using recent perspectives in the literature of clluster, our study demonstrates that Indonesia, and in particular Java, represents an excellent axample of both the uneven geographic distribution of manufacturing industry and the relationship between urbanization and industrial development. We found that GIS was a powerful tool to identify the location of manufacturing industry and industrial clusters. Indonsia contains many regional clusters. Indonesia contains many regional clusters within a fairly homogeneous economic and regulatory environment. Within Java, this study confirms that the L&M industrial clusters are associated with urban concentration. |
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