bluuebunny/crossref_metadata_2025 huggingface dataset:
Restoration of Budget Control: How It Should Be? A Case Study of The Local Government of Indonesia
Authors: Damayanti Ratna Ayu
Published: June 2021

Objective - This research aim is to examine the phenomenon of budget control and deviant behavior in order to answer the question: "how should budget control in the government sector be in order to effectively prevent deviant behavior such as budgetary slack?" The study focuses on local governments in Indonesia, where such controls have not been able to combat budgetary slack, which has led to widespread corruption.

Methodology/Technique - This study uses the Habermas method to criticize budgetary control practices that continue in the present day.

Findings - By creating a public space over localized wisdom-based control, known as an informal control system, the weakness of formal control systems in overcoming budgetary slack with be reduced.

Novelty - This study takes a critical approach, while most previous studies have adopted a positivistic approach or an interpretative study.

Type of Paper: Empirical.

Keywords: Budget; Budget Control; Budgetary Slack; Local Wisdom; Public Sector, Indonesia.

JEL Classification: M10, M14, M19.
The Accounting Conservatism of the Adoption of IFRS in Indonesia
Authors: Juniarti Juniarti , Raharjo Devi Tirta , Monica Regina
Published: June 2021

Objective - The Indonesian Accounting Standard Authority has required companies to adopt the International Financial Reporting Standard (IFRS) since its adoption in 2012. The new standard emphasizes relevance, while the previous standard focused on conservative issues. While the IFRS does not specifically aim to reduce conservatism, this aspect is no longer the emphasis of the new standard. There are concerns about whether the IFRS reduces conservatism and the research on this issue are still uncertain. Hence, this study aims to determine the level of conservatism in the period following the adoption of the IFRS. The study also aims to examine the outcome of the adoption of the IFRS since its adoption in Indonesia in 2012.

Methodology/Technique - Using the accounting conservatism model developed by Basu (1997), the authors compare firm conservatism before and after the adoption of the IFRS. The sample includes companies listed on the Indonesian Stock Exchange between 2006 and 2016. There are 3.742 firm-years that consist of 394 companies from various industrial sectors. The data is analyzed using a Pooled Least Square method.

Findings - The results show that conservatism was high prior to the adoption of the IFRS. Further, accounting earnings are more sensitive to the negative return than to the positive return before the adoption of the IFRS. However, in the post-adoption period, sensitivity to negative return has decreased. This means that the adoption of the IFRS has reduced levels of conservatism. The Indonesian Accounting Standard Authority may rely on these results to evaluate the mandatory policy of IFRS.

Novelty - This study explores the prevalence of conservatism within firms prior to, and following, the adoption of the IFRS using longitudinal data.

Type of Paper Empirical

Keywords: Conservatism; Earning Quality; IFRS Adoption; Indonesia; Pre and Post-adoption.

JEL Classification: M41, M48.
Implementation of Economic Empowerment Model Based on Export Opportunities Towards the ASEAN Economic Community (A Case Study of Wonogiri Regency)
Authors: Istiqomah Nurul , Supriyono Supriyono , Mafruhah Izza
Published: June 2021

Objective - This researchcarries three objectives. First, it aims to analyse the variables that affect readiness in facing the AEC. Second, it aims to analyse aspects that can affect the preparation of the empowerment model based on the economic potentials of the Wonogiri community for export opportunities. Finally, it aims to see how the proposed model can be implemented as an empowerment model.

Methodology/Technique - The analytical tools used in this research include a descriptive statistical analysis and the Analytical Hierarchy Process (AHP) is used to determine aspects affecting the preparation of the empowerment model. In the Qualitative analysis of the implementation of the empowerment model, data will be drawn from focus group discussions and in-depth interviews.

Findings - Results show that factors affecting the success of empowerment on communities include education age, capital, business types, and entrepreneurial experiences. Priority variables noted in the preparation of the empowerment model include three aspects: internal aspects of business players and community, institutional aspects, and external aspects. Results also indicate that the model is applicable for the empowerment efforts of business players and community in the Wonogiri regency in facing the AEC.

Novelty - Community empowerment model for the AEC has not been specifically conducted in Wonogiri. Thus, in drawing up a strategic plan for the years 2016-2020 as contained in RPJMD Wonogiri, the government has only planned for the empowerment programs in general.

Type of Paper: Empirical

Keywords: Economic Empowerment Model, Analytical Hierarchy Process, Wonogiri Regency, Indonesia.
The Establishment of Social Entrepreneurship Movements as A Response to The Transformation of Governments' Social Policies (The Case of Four EAEU Countries)
Authors: Dzhunushalieva Gulnara
Published: June 2021

Objective - This article summarizes research into the social entrepreneurship movement based on databases which include respondents from the following countries: the Kyrgyz Republic, Republic of Belarus, Republic of Kazakhstan and Russian Federation. This article tries to relate the efficiency of social policy to social issues.

Methodology/Technique - We selected 180 acting social enterprises and 36 from 4 post-soviet countries and conducted interviews and observations to create a database. Based on defined key criteria, different types of social actors were classified and grouped.

Findings - The findings indicate that state funding for social services and social protection has fallen dramatically due to a sharp decline in GDP and in the residual shares of GDP allocated for social policy. Our analysis indicates that countries which experienced a transformation of government social policy have a greater variety of social actors. Through the database, we were able to define and classify 8 typical groups of social actors. Two of them - social activists and social reformers - can help a nation to create a new stable system for target social groups.

Novelty - Originality of the findings of this article.

Type of Paper: Empirical

Keywords: Social entrepreneurship; social reformer; social activists, social policy; problem solution; social groups; social issues
Mental Accounting in Managers' Preferences Related to Aggregation Versus Disaggregation Income Statement Items
Authors: Shanti Shanti
Published: June 2021

Objective - The objective of this study is to observe the mental accounting of managers when choosing between aggregate or disaggregate items in income statements. Managers who experience mental accounting may behave opportunistically because they may consider cost-benefits based on which of the two has a higher utility.

Methodology/Technique - The analytical tools used in this research include a descriptive statistical analysis and the Analytical Hierarchy Process (AHP) is used to determine aspects affecting the preparation of the empowerment model. In the Qualitative analysis of the implementation of the empowerment model, data will be drawn from focus group discussions and in-depth interviews.

Findings - The test results of the research experiment using MANOVA Test (Factorial Design) with SPSS 23 found that overall, the managers will support the presentation of aggregate or disaggregate based on which one of the two has a higher utility. Therefore, managers' preferences related to items of gains and losses in the income statement are consistent with mental accounting.

Novelty - The outcome of this study could be used to explain how the parties involved in external financial reporting and voluntary disclosure behave in accordance with the principles of the theory of mental accounting.

Type of Paper: Empirical

Keywords: Mental Accounting; Aggregation; Disaggregation; Gain; Loss.
Accounting Students' Perceptions of AEC 2015 on Public Accounting Profession
Authors: Dianita Mirna , Hadian Niki
Published: June 2021

Objective - The economic growth of a country isvery importantbecause it reflects the country's economic development and success. This study's objective is to examine how accounting students' perceptions of the public accounting profession are taken into account in facingthe AEC 2015. In that regard, this study gauges how Indonesian companies can fulfil their needs to be more competitive in meeting the goals of the AEC 2015.

Methodology/Technique - This study is qualitative in nature thus analysis will be descriptive. Questionnaires were distributed to currently activestudents of accounting in Indonesia. The samples were extracted from a nonprobability sampling technique. The 339 respondents were selected based on a set of basic considerations. In this context, the participants must have knowledgeof the AEC 2015 and are currently studying in public accountancy as a profession All were from Indonesia.

Findings - Results drawn from the respondents indicate that they do not deeply understand the description of the AEC 2015.Majority of the respondents (27.4%) understood that the implementation of the AEC 2015 will make goods and services flow freely and majority (39.8%) also feel that they have a good ability in speaking with almost half of them assuming that they also write well in English. With regards to their competence in accountingafter graduation, more than half (52.2%) of the respondents agreethat the competence of public accountants from the host country will not be able to compete with those from ASEAN countries.

Novelty - This paper enables accounting students to understand the challenges they face ahead,especially for those who are prospective successors to the Indonesian nation.

Type of Paper: Empirical

Keywords: AEC 2015, Public Accounting Profession, Accounting, Accounting Students Perceptions
A Study on The Behavioural Aspects of Retail Investors for Investment Decision Making in Telangana State
Authors: Boda Jhansi Rani , Sunitha G. , Ray Parag
Published: June 2021

Objective - Investment is the commitment of funds which have been saved from the current consumption with an expectation of favorable future returns. Investment behavior is concerned with choices made about the purchase of a significant number of securities for an individual or institutional account. Individual investment behavior is relatively a new area of research in behavioral finance. This study aims to identify the various behavioral patterns of retail investors and their investment decision making in the newly formed Telangana state of India.

Methodology/Technique - Data were collected from a sample of 200 retail investors via a structured questionnaire. Factor analysis was then conducted to critically identify the behavioral patterns of the retail investors.

Findings - The findings of this study indicate that the two behavioral factors of Heuristics and Prospect have significant impact on the investment decision making attitudes of the retail investors.

Novelty - As a newly formed state in India, the Telangana state provides potential investment opportunities for retail as well as institutional investors. It is thus, highly imperative to explore how retail investors make investment decisions especially in the newly formed Telangana State in India

Type of Paper: Empirical

Keywords: Behavioral Factors; Behavioral Finance; Investment Behavior; Investment Decision Making; Retail Investor.
Valuing the Economic Impact of Flood Mitigationin Central Java, Indonesia
Authors: Gravitiani Evi , Suryanto Suryanto
Published: June 2021

Objective - This research aims to map and identify the areas vulnerable to flood in Central Java Province, Indonesia, using Geography Information System (GIS) and value the economic impact on flood mitigation using Contingent Valuation Methods (CVM).

Methodology/Technique - The data regarding geographical, demographical, socio-economic, and topographical condition collected from local governments in Central Java Province, Meteorology and Geophysics Board, the Statistical Bureau, and Planning and Development Boar.

Findings - Spatial analysis with GIS provides evidence that Surakarta, Sragen, and Sukoharjo districts are more vulnerable to flood than other districts in Central Java Province. This evidence points the need to conduct a thorough study on these areas.

Novelty - This research contributes to empirical study, methodology, and policy implications.

Type of Paper: Empirical

Keywords: Spatial Analysis; Flood Impact; Local Wisdom; Economic Valuation; Willingness to Pay.

JEL Classification: C21, Q51, Q54.
Political Communication Factors Affecting University Students' Political Participation
Authors: Rujichok Kritiya , Obayavath Sudithinee
Published: June 2021

Objective - The purposes of this research were to examine and study political communication factors affecting university students' political participation.

Methodology/Technique - The population was 2,613 university students from all over Thailand. Quantitative methodology was applied to survey students' opinions. The research instrument was a questionnaire. The statistics used for data analysis were percentage, mean, standard deviation and factor analysis. The factors affecting political participation were analyzed and used to find an effective strategy to promote political participation.

Findings - The research results showed that the factors affecting knowledge building in politics were family, university and classmates. Students' political decision making was based on their role models, e.g. idols, actors and musicians. The students did not agree with vote buying; however, they could not stop family or community leaders from doing it because of the seniority-based culture.

Novelty - The results provide suggested guidelines for developing students' political participation.

Type of Paper: Empirical

Keywords: Political Communication; Student Political Participation; Political Attitude; Political Knowledge; Political Public Consciousness.

JEL Classification: D83, H10
Modeling the Effect of Healthcare Expenditure and Education Expenditure on Labour Productivity: A Study on OIC Countries
Authors: Abdul Wahab Abdul Azeez Oluwanisola , Kefeli Zurina
Published: June 2021

Objective - The possibility of healthcare expenditure and education expenditure are becoming a thought-provoking issue for numerous governments globally, in spite of the fact that healthcare is unique and vital rudiments of well-being. On the other hand, education is the strength and spinal column of ground-breaking thoughts. Nevertheless, with an ageing population and ballooning protracted health difficulties, the preservation of the quality of life demands improved healthcare and education expenditure on the part of government. However, this study scrutinizes the effect of healthcare expenditure and education expenditure on labour productivity using Organization of Islamic Cooperation (OIC) countries as a case study.

Methodology/Technique - The research utilized pooled-panel data method with data from 1990 to 2015.

Findings - The result of the findings shows that there is the statistical significant relationship between healthcare expenditure, education expenditure and labour productivity in OIC countries.

Novelty - Research suggests that healthcare and education is a mechanism to stimulate the productivity of labour in OIC countries.

Type of Paper: Empirical

Keywords: Education Expenditure; Healthcare Expenditure; Labour Productivity; OIC Countries.

JEL Classification: H51, H52, J24.
Vulnerability and Willingness to Pay for Coping with Flood in Klaten Regency, Central Java, Indonesia
Authors: Suryanto Suryanto , Sutrisno Sutrisno , Gravitiani Evi , Susilowati Fitri
Published: June 2021

Objective - The focus of this research is the analysis of vulnerability and factors that influence willingness to pay (WTP) to cope with flood. Other result of this research is economic valuation of flood impact on paddy field in particular.

Methodology/Technique - This research used the descriptive and quantitative method. Its data were collected through direct interviews with 380 respondents. Its samples were scattered in 11 sub-districts and 94 villages. The representatives of each village were 4 respondents, by adding two respondents from Wedi Sub-district and 2 respondents from Cawas Sub-district. Proportional sampling technique was employed to determine the research samples with criteria: very close (<50 m), close (50-100 m), and far (> 100 m) from the river. Its data were analyzed by using contingent valuation methods (CVM).

Findings - The results of the research are as follows. Many activities have been implemented to mitigate flood in Klaten Regency, but many problems have been encountered due to the limitations of Government Budget (APBD). The variables of income of family/household, water level, distance, and loss have a significant effect on the WTP. In majority, the respondents (72.27%) have the WTP for flood mitigation activities with the average WTP of 15,391 IDR.

Novelty - Economic valuation of flood mitigation programs and activities is required as to further enhance the role of the community, taking into account factors affecting the WTP. The local government should take advantage of the public's WTP to support flood mitigation activities among neighbourhood, village, sub-district and regency.

Type of Paper: Empirical

Keywords: Vulnerability; Flood Mitigation; Contingent Valuation; Willingness to Pay (WTP).

JEL Classification: D12, H84.
A Policy Framework to Support Household-Based Snack Food Industry in East Sumba Regency for Poverty Alleviation
Authors: Kusumastuti Ratih Dyah , Viverita Viverita , Rachmawati Riani
Published: June 2021

Objective - This research aims to develop a policy framework to support household-based snack food industry in the East Sumba regency for poverty alleviation.

Methodology/Technique - A qualitative method is applied to enable exploration. A benchmarking analysis with the snack food industry in Garut, West Java, also is conducted to gain insights of the success factors and challenges faced by the industry there.

Findings - Most informants say that the East Sumba regency has a high production of food crops and fruit; thus, it has potential to develop a household-based food industry to improve the local economy, i.e., a food and snacks industry based on raw materials such as maize, cassava, sweet potatoes, peanuts, and bananas. The regency also has a long coastline; therefore, coconut, fish, and seaweed-based food industries also are a potential for development in the area.

Novelty - This study findings propose a policy framework for poverty alleviation through the creation of new entrepreneurs producing local snack foods. The creation of new entrepreneurs will increase employment and it should be done by the local government must implement policies that develop the management skills in four functional management aspects, which must be supported by specific policies in community leadership, community culture and mindset, public–private partnerships, government support, and infrastructures.

Type of Paper: Empirical

Keywords: Poverty Alleviation; Household-Based Industry; Food industry; East Sumba; Indonesia.

JEL Classification: L26, P46.
Micro, Small and Medium Enterprises (MSMEs) Coaching Program
Authors: Hamzani Umiaty , Achmad Dinarjad
Published: June 2021

Objective - This study aims to examine and analyze micro small and medium enterprises (MSMEs) coaching program and to obtain an empirical evidence regarding the effect of MSMEs coaching program on the quality of financial statements.

Methodology/Technique - This study was conducted using quantitative descriptive method and statistical analysis using a sample of 50 entrepreneurs in several MSMEs coaching program institutions in Pontianak, West Kalimantan.

Findings - The result shows that all objectives of MSMEs coaching program classified as good with the value of mean above 3.43. Furthermore, the hypothesis proposed in this study shows that MSMEs coaching program has a significant effect on the quality of financial statements.

Novelty - The study findings useful for future references in implementing coaching program.

Type of Paper: Empirical

Keywords: Coaching Program; Entrepreneur; MSMEs; Quality of Financial Statements.

JEL Classification: I21, L26.
The Canvas Model as a Strategy for Improving Financial Profits: A Casey Study of Online Businesses in Indonesia
Authors: Hermawan Francisca , Wijayanti Sri Hapsari , Aba Fransiskus X Lara
Published: June 2021

Objective - The aim of this study is to identify how the strategy of online businesses can be improved to increase financial profits. The focus of this study is on online businesses selling flowers, taking into consideration the fact that the freshness of flowers does not last long, and that the price and quality of flowers fluctuates depending on climatic conditions.

Methodology/Technique - The data used in this research is primary data, obtained by distributing questionnaires for market research, tested against 57 respondents. The respondents were selected using non-probability sampling with a purposive sampling technique. The results of the validation test r count > r table, with 5% significance, shows that businesses providing flower arrangements are in high demand.

Findings - The results of the model business identification canvas and the profit and loss projections indicate that the choice of the business strategy series for cut flowers on each element is accurate. The results of the analysis of the strengths and threats also identifies that selling price varies depending on the types of flowers used in an arrangement, and accessories used.

Novelty - This research studies how the types of flowers used, the design of an arrangement, accessories used, packaging, and family ownership of a business can effect the interest of potential customers in the Fiore shop in Afrodite.

Type of Paper: Empirical.

Keywords: SWOT; Canvas Models; Communication; Online Business; Indonesia.

JEL Classification: C50, C53, C59.
The Demand for Different Types of Childcare by Working Mothers in Palembang, South Sumatera, Indonesia
Authors: Lupikawaty Marieska , Bemby Bambang
Published: June 2021

Objective - This study aims to analyse the factors effecting the different demand on childcare services made by working mothers, focusing on two types of childcare.

Methodology/Technique - The analysis method used is a logit regression with a binary dependent variable worth. The respondents are working mothers who with young children, living in Palembang. This research uses primary data to perform the data collection, through the use of questionnaires and interviews.

Findings - The results show that the cost of daycare and the hours spent in daycare have an affect on a working mother's choice of the type of daycare used.

Novelty - This study represents a different approach from previous studies because: (i) the study examines whether the cost of child care has an effect on a working mothers' choice of the type of daycare and (ii) the study also tests whether the number of hours mothers leave their children in daycare has an effect on their choice of daycare.

Type of Paper: Empirical.

Keywords: Demand; Child Care; Working Mothers; Palembang; Indonesia.

JEL Classification: J10, J13.
The Strategic Role of Management of Human Resources to Prevent Corruption
Authors: Soehari Tjiptogoro Dinarjo , Djumarno Djumarno
Published: June 2021

Objective - Corruption is the greatest threat for growth and stability in an organization. The eradication of corruption has been achieved through instruments, law enforcement and inspectorate measures, but corruption levels in Indonesia are still not as low as other ASEAN countries such as Singapore and Malaysia. It is therefore necessary to expand the measures taken to eradicate corruption not only in terms of legal measures, but also within human resource management strategies.

Methodology/Technique - This research uses a quantitative explorative technique using SPSS, a dependent variables of Prevent Corruption (Y), and independent variables of Organizational Culture (X1), Competence (X2), Leadership (X3) and Internal Control (X4). The study sample is the Directorate General of a Ministry in Indonesia with a population of 525 people, and a sample of 149 people.

Findings - The study found that: (1) The regression equation model is Y = 0.014 + 0.972 X1 + 0,030 X2 - 0,053 X3 + 0,049 X4, RSq = 0,969, F = 1095,574; (2) culture is the most dominant factor in preventing corruption; (3) Competence, Leadership and Internal Control have no significant effect on the prevention of corruption; (4)

Novelty - In the absence of improvements to existing policies, the rate of corruption in Indonesia is around 0.014 on a scale of 1-5.

Type of Paper: Empirical

Keywords: Corruption; Prevention; Organizational Culture; Competence; Leadership; Internal Control.

JEL Classification: M20, M38, M39.
Contemporary Frontier Transformation for Inclusive Growth: The Dual Role of "Smart" Competitiveness Factors
Authors: Patluang Kritsada
Published: June 2021

Objective - This paper aims to contribute to inclusive development literature by empirically verifying that some "smart" or "knowledge-and innovation-related" competitiveness enhancing factors, besides raising competitiveness and growth, enable inclusiveness and sustainability. Methodology/Technique - The methodology used includes making ranks of frontier, advanced countries based on World Economic Forum data regarding competitive quantities and qualities of smart factors and growth and inclusive and sustainable outcomes. Then, a Spearman's rank correlation analysis is used to determine the similarities between each factor rank and each outcome rank. Findings - The smart factors show a significant relationship with both growth and inclusiveness/sustainability outcomes; this may be a target for use as policy instruments to promote both growth and inclusiveness. The study found that higher levels of business-sophistication and network-related training, access and use of existing-technology, and ICT utilization factors contribute to higher levels of growth and also infer higher levels of employment, intergeneration eco-adjusted savings and lower levels of inequality, poverty and carbon intensity. Novelty - Given that current government and international organization policies aimed at improving competitiveness/growth vis-à-vis inclusiveness/sustainability remain separated, the results of this study may assist in improving the collaboration between these two objectives. The policy implications of this study include: certain dual competitive-inclusive enhancing policies can be suitably designed and targeted to uplift smart elements and the acceleration of inclusiveness and sustainability alongside the competitiveness-growth nexus. Further, developing countries may learn to leapfrog the development frontier without developing competitiveness and inclusiveness/sustainability separately, but rather each at a time. Type of Paper: Empirical. Keywords: Competitiveness; Inclusive Development; Smart Policy; Sustainability; Frontier Transformation. JEL Classification: O20, O32, O38, O43, P48, Q30, Q50.
Causality of Economic Growth and Openness in ASEAN-5
Authors: Yacoub Yarlina , Lestari Nindya
Published: June 2021

Objective - This study aims to determine the relationship between FDI and trade and its effect on economic growth in ASEAN-5 countries using the Engel-Granger causality method.

Methodology/Technique - The study uses OLS panel regression analysis to identify the relationship between the variables in each country. The results of the Engel-Granger causality test indicate that there is a two-way relationship between economic growth and FDI, and economic growth and international trade.

Findings - When tested together through panel regression, it is concluded that the best model is a random effect method (REM) in which FDI and international trade significantly influence economic growth in the same direction. However, the relationship between FDI and international trade and its effect on economic growth in Indonesia, the Philippines and Thailand was negative, whilst in Malaysia and Singapore the relationship has a directional trend.

Novelty - To reinforce the FDI inflows, authorities should continue the progressive reduction of barriers, and increase the sophistication of quality exports to compete in the global market. This paper is the first of its kind to analyze the role of both FDI and exports in the ASEAN5 economies using panel analysis.

Type of Paper: Empirical.

Keywords: Economic Growth; FDI; Openness; Engle-Granger Causality.

JEL Classification: F02, F10, F41.

DOI: https://doi.org/10.35609/jber.2019.4.1(1)
The Influence of Global Stock Index and the Economic Indicators of Stock Investment Decision by Foreign Investors in the Indonesian Stock Exchange
Authors: Nidar Sulaeman Rahman , Diwangsa Erwin Jaya
Published: June 2021

Objective - The objective of this study is to determine how the movement of several indices and indicators of the global economy affect the change in investment by foreign fund flows in the Indonesia Stock Exchange (BEI).

Methodology/Technique - Some global stock indices used in this study comprise the Dow Jones index, the Nikkei 225 index, the Shanghai index (SSE) and the Singapore Index (STI). Data were taken monthly from March 2009 to June 2014.

Findings - The results obtained from this study indicate that the Dow Jones index and the STI index have a significant positive effect on the movement of foreign investmentsin the Stock Exchange. In contrast, the movement of world oil prices and exchange rate of the IDR/USD have a significant negative effect on the movement of foreign investments in the BEI.

Novelty - The results of this study reinforces that the depreciation of the rupiah against the USD is an indication that the fundamentals of the Indonesian economy is not strong enough.

Type of Paper: Empirical

Keywords: Dow Jones, Nikkei 225 Index, Shanghai Index (SSE), STI Index, World Oil Prices, World Gold Price, Exchange Rate IDR/USD
Development and Shari'ah issues of the Takaful industry in Malaysia – Effects of the Regulatory Framework on the Implementation and Growth
Authors: Othman Muhamad Badri
Published: June 2021

Objective - This paper aims to discuss and analyse whether the participation of long established conventional insurance conglomerates will be positive towards the development of the Takaful, particularly in the aspect of the operators' compliance towards Shari'ah requirements.

Methodology/Technique - The study reviews literature in related area.

Findings - Findings indicate that the merger and acquisition (M&A) which have taken place recently by other foreign insurers with our local Takaful operators show that the growth of this industry is promising for years to come for the foreign insurers to tap into our Takaful market.

Novelty - The study attempts to provides insight on effect of foreign companys' merger and acquisition strategies in Takaful market.

Type of Paper: Review

Keywords: Islamic finance; Islamic Financial Services Act 2013; merger and acquisition; Shari'ah compliance; Takaful.
How to Build Satisfaction and Customer Loyalty with a Focus On Complaints Handling (Review of the Scientific Literature)
Authors: Salim Agus , Setiawan Margono , Rofiaty Rofiaty , Rohman Fatchur
Published: June 2021

Objective - The purpose of this study is to examine and explain the effect of bank service quality and the handling of customer complaints on customer loyalty in public sector banks in Jakarta. This bank has been the subject of several complaints to the Indonesian Consumers Foundation and the Financial Services Authority.

Methodology/Technique - The variables in this study are: bank service quality 19 indicators, handling of customer complaints 4 indicators, 29 indicators of customer loyalty, and customer satisfaction 4 indicators.

Findings - The research displays the proposed conceptual model, namely the main determining features of customer loyalty.

Novelty - The study developed framework for future research.

Type of Paper: Review

Keywords: Bank Service Quality; Handling of Customer Complaints; Customer Satisfaction; Customer Loyalty; Public Sector Banks; Indonesia.

JEL Classification: D11, D21, G21.
Political Risk and Stock Returns in Indonesia
Authors: Amtiran Paulina Yuritha , Indiastuti Rina
Published: June 2021

Objective - The research aims to find the relationship between the political risk with stock returns.

Methodology/Technique - Using the purposive sampling, secondary data on 30 companies listed in Indonesia Stock Exchange (BEI) of the year 2007-2015. Analysis technique used is weighted least square regression

Findings - The results of study Political risks significantly positively associated with stock returns. These results imply a change from the shock of political risk will affect cost of capital of the company increased, causing the company's stock price will go up which in the end impact on improving the company's stock returns obtained.

Novelty - The study implies Shock due to the change of political risk has a direct impact on the company's financial condition primarily of the cost of capital companies because it involves policy and investment decisions are made in Indonesia.

Type of Paper - Empirical

Keywords: BEI; Market Capitalization; Market Returns; Political Risk; Stock Returns.

JEL Classification: G30, G32.
The Role of Firm Strategy to Intervene the Influence of Corporate Social Performance on Corporate Financial Performance
Authors: Aprillianto Bayu , Sayekti Yosefa
Published: June 2021

Objective - A Corporate Social Responsibility (CSR) implementation has been implemented since over 50 years ago. All of the CSR implementation divided into two categories, namely Strategic CSR and Non-Strategic CSR. A Strategic CSR implementation should consider the firm strategy based on the CSR concept and firm strategy. Some empirical studies have tested the influence of CSR on Corporate Financial Performance. The results of those studies are still inconclusive.

Methodology/Technique - The purpose of this study is to analyze firm strategy as intervening variable between Corporate Social Performance and Corporate Financial Performance. This study used capital intensity and product differentiation to measure the firm strategy. The samples were 33 companies of LQ-45, listed in Indonesian Stock Exchange.

Findings - The results did not indicate that firm strategy intervenes the influence of Corporate Social Performance on Corporate Financial Performance, both directly and indirectly.

Novelty - The research suggests future studies to employ the other ratios representing Firm Strategy that will strengthen the literature.

Type of Paper - Empirical

Keywords: Corporate Financial Performance; Corporate Social Performance; Firm Strategy; Non-Strategic CSR; Strategic CSR.

JEL Classification: L25, M14, M41
Burnout Dimensions with Work-Family Conflict among Hotel Employees: Flow Experience as Mediating Role
Authors: Kasa Mark , Hassan Zaiton
Published: June 2021

Objective - It is a known fact that hotel employees are constantly working in a demanding work environment. The gruelling demand of the day-to-day operations and stress will eventually lead to the burnout dimensions (exhaustion and disengagement). This may have adverse effects to their relationship with their family members. Interestingly, Malaysian's cultural dimension – collectivism; may explain this in a rather interesting discussion. Previous studies had revealed fascinating findings of a relationship between the burnout dimensions with work-family conflict (WFC) and how flow mediates the relationship between burnout dimensions with WFC

Methodology/Technique - A primary survey of 233 hotel employees in Kuching, Malaysia revealed that indeed there is a correlation between the relationships and that flow mediates the variables.

Findings – The results obtained from this study suggest the importance of hotel organizations in utilizing some proactive actions to promote flow experience among their employees. This article also discloses the practical implications and provides suggestions for future research in the similar field of study.
Novelty - The research provides supported suggestions for proactive action to eliminate burnout at workplace.

Type of Paper - Empirical

Keywords: Burnout dimensions; Disengagement; Exhaustion; Flow; Hotel industry; Work-family conflict.

JEL Classification: J21, J24, J51.
Utilizing City Festival as an Event Marketing for Creative Industry Product (Case Study of Jember Fashion Carnaval)
Authors: Farida Lilik , Putri Nadia Azalia , Sudarsih Sudarsih
Published: June 2021

Objective - This study discusses the role of tourism event marketing in promoting creative industry products in a city by taking a case study in Jember district. Jember has third largest fashion carnival in the world named Jember Fashion Carnaval (JFC) which is held annually. JFC is capable of being a magnet of Jember tourism in recent years. That big potential of JFC can be utilized as a tourism event marketing. Hopefully, JFC is able to be a market for creative industries in Jember, given that the main problem of creative industries in Jember is related to marketing capability. JFC utilization as an event marketing requires a quadruple helix model approach, where local government, universities, creative industries, and society work together and synergically.

Methodology/Technique - This study is designed using analytical descriptive approach.

Findings – This study concluded that creating JFC as an event marketing in promoting creative industry product in Jember applies active synergy between government, academics, industries, and society. Government can act as creative industry promotor and supporter of facility and infrastructure; academics can contribute as source of knowledge, technology, and creative human resources; industries can develop their own enterprise using knowledge and experience transfer; and community can act as program partner related to JFC and creative industries.
Novelty - The research based on the analytical descriptive approach suggests marketing challenge of creative industries with new product development and innovation.

Type of Paper - Review

Keywords: Creative industry; Event marketing; JFC

JEL Classification: M31, M37.
Is Financial Reward Still an Important Motivator for the Indonesian Multi-Generational Workforce?
Authors: Hartijasti Yanki , Darpita Surya Dwi Kusuma
Published: June 2021

Objective - Considering the importance of work motivation in the workplace for staff performance and organizational success, employers need to be sensitive and focusing more on work motivation of their employees to avoid losing them. However, previous studies still have conflicting results on this issue whether there is a significant difference on intrinsic and extrinsic motivators or not among employees from Baby Boomers, Gen X and Gen Y because many studies find generation is not the only driver influencing work motivators. The objectives of this study are to investigate whether a three-generation workforce differs in the level of work motivators and whether differences in generational work motivation are better explained by gender, education, or types of job to design effective human resources development programs.

Methodology/Technique - Using survey method to collect data, 415 respondents who work in a manufacturing company were gathered and analyzed by applying descriptive and multivariate analysis. Intrinsic and extrinsic motivators were the subscales of work motivators.

Findings – Results indicate that all generations are intrinsically motivated, in which Gen Y employees are found to have higher intrinsic motivators than Gen X and Baby Boomers. However, this study reveals that financial rewards are still considered as an important motivator for the three generations.
Novelty - The study presents evidence that work motivators should not only be measured based on generational alone because other factors, such as gender, education, and types of job, can give impact to various outcomes.

Type of Paper - Empirical

Keywords: Intrinsic Motivators; Extrinsic Motivators; Financial Rewards; Gen Y; Gen X; Baby Boomers; Indonesian Workplace.

JEL Classification: J28, J33, M52, M54.
Digital Video as a Promotional Media and Brand Equity of a Product That has an Influence on Consumer Buying Interest (A Research of Social Media Active Users)
Authors: Hapsari Ayuningtyas Yuli
Published: June 2021

Objective - The research aims to test influence of promotion in social media and effect of brand equity on Consumer Buying Interest.

Methodology/Technique - This research uses descriptive verification method that examines many as 115 respondents with 15-40 years of age category, because it is an age of active users of social media such as: Instagram, YouTube, Facebook, etc. This study also uses primary data is based on interviews during the pre-survey and distribute questionnaires. After that at the time of processing the data, this study using multiple regression analysis as a verification method to measure how much digital video as a media campaign on consumer buying interest as well as to determine how much influence the brand equity on consumer buying interest as active users of social media

Findings – After passing the calculations using regression and t-test, promotion through social media consisting of online communities and forums, blogs and social networks has a very strong influence on consumer buying interest compared to brand equity. This can be enhanced by strengthening social networking through social media to increase product sales, many companies still believe that social media as a low-cost promotional media but can increase sales, more promotion in social media will increase brand equity in the minds of consumers, so that in the end will benefit both sides.
Novelty - The research conducted in the context of Indonesia with original data on brand equity effect on confidence of consumers.

Type of Paper - Empirical

Keywords: Digital Video; Promotion; Brand Equity; Consumer Buying Interest; Social Media.

JEL Classification: M31, M37
Exploring Consumer Decision-making Processes Regarding the Adoption of Mobile Payments: A Qualitative Study
Authors: Bhimasta Raden Agoeng , Suprapto Budi
Published: June 2021

Objective - The main objective of this study is to gain deeper understanding on the decision-making process of how and why consumers are adopting mobile payment in Indonesia.

Methodology/Technique - The study was a qualitative study that included an experiment to the research design. A total of six young people were voluntarily participated in the study. Our finding provides explanation of salient factors that might drive or hinder the adoption in five different stages of innovation-diffusion process.

Findings – Overall, our finding indicated that the attractiveness of rewards was an intriguing factor that greatly influences consumer decision whether to use mobile payment or not.
Novelty - The uniqueness of our study lies on the use of innovative approaches to address the mobile payment adoption issues from different perspective than prior literatures.

Type of Paper - Empirical

Keywords: Consumers' Decision-Making; Financial Technology; Innovation-Decision Process; Mobile Payment Adoption; Technology Adoption.

JEL Classification: M15, M31.
Power Distance as A National Culture Observed in Organizational Scope
Authors: Zagladi Arief Noviarakhman
Published: June 2021

Objective - Cultural factors have significant roles in creating behavior in an organization. This research claims that national culture like power distance that is usually measured in a national scope actually can have a better result when it is measured in the organizational scope. The goal of this research is to find out the level of power distance among private lecturers in Banjarmasin, Indonesia, and compare it to Hofstede's power distance for the whole country.

Methodology/Technique - This research uses explanatory research that tries to understand the degree of power distance among private university lecturers in Banjarmasin. The populations used were all lecturers in private colleges in Banjarmasin City. The samples used were 86 lecturers who have become a lecturer for at least 2 years. The analysis is done through a descriptive quantitative method measuring the level of power distance among lecturers in Banjarmasin and with confirmatory factor analysis (CFA) to understand which indicators that have the strongest influence in creating power distance culture among lecturers in Banjarmasin.

Findings – The results of the research show that power distance culture is low among the lecturers in Banjarmasin City, with indicator "The level of authority used by the leader" as the lowest factor. The result also finds that the indicator "subordinates Exclusion in decision-making" as the strongest indicator to form power distance culture.
Novelty - This research conducted in the context of Indonesia using primary data.

Type of Paper - Empirical

Keywords: National culture; Organizational culture; Power distance; Hofstede; Banjarmasin City.

JEL Classification: M50, M54.
Women, Climate Change and Economic Problems in the Family
Authors: Oedjoe Mientje Ratoe , Fanggidae Rolland Epafras
Published: June 2021

Objective - The role of women in Indonesia, particularly in East Nusa Tenggara in domestic activity very dominant. This study focuses on the efforts made by women cope with the impacts of climate change.

Methodology/Technique - Methods used are mixture of quantitative and qualitative research. While the location of the research conducted in Kupang regency, East Nusa Tenggara.

Findings – The study of the results showed that, women are still playing a dominant role in getting a sufficient supply of staple foods and meal replacements basic needs and outside work done in the event of extreme climatic impacts on the ocean.
Novelty - This research looks at the optimal empowerment of women's role in addressing climate change and learn to know how the role of women in the economic field in the face of climate change impacts.

Type of Paper - Empirical

Keywords: Climate Change; Women; Women's Roles; Gender; Family.

JEL Classification: J16, Q10, Q50.
The Influence of Brand Equity and Green Marketing on Consumer's Decision to Purchase Honda Beat Series in Surabaya
Authors: Putra Syaifurrizal Wijaya , Gumanti Tatang Ary
Published: June 2021

Objective - Brand equity and green marketing are becoming increasingly relevant to brand competition. Brand equity and green marketing of a product are able to influence a costumer's purchasing decision (Kotler and Armstrong, 2007). This study aims to test the relationship between brand equity, green marketing, and the decision to purchase certain goods.

Methodology/Technique - The study uses a sample of 120 respondents, all of whom are purchasers of a Honda Beat Series vehicle, and who live in Surabaya. The data is analyzed using multiple linear regression.

Findings – The study examines the purchase of the Honda Beat Series motorcycle in Surabaya City, in the East Java Province, Indonesia. East Java is regarded as a province with the highest selling rate; in 2014, the province recorded a market share of 17.1%. This study found that brand equity and green marketing both have a significant positive effect on a consumer's decision to purchase.
Novelty - This study assesses the efficacy of Honda's green marketing strategy, through the use of the PGM-Fi system, which is considered to set them apart from its competitors.

Type of Paper - Empirical

Keywords: Brand Equity; Green Marketing; Marketing; Decision to Purchase; Regression Analysis.

JEL Classification: M30, M31.