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THE RISK OF SUB-PRIME MORTGAGE CRISIS AND COVID-19 PANDEMIC: LESSON LEARNED FROM INDONESIA 次贷危机和COVID-19大流行的风险:从印度尼西亚吸取的教训
Pub Date : 2021-01-28 DOI: 10.17358/IJBE.7.1.73
C. Amanda
This study aims to analyze the risks in Indonesia's financial sector related to the sub-prime mortgage case in the United States and COVID-19 pandemic. This study uses a comparative analysis of the time series model from 2006 to 2020. The data includes stock index, exchange rate, and interest rate variables collected from Datastream. This study calculates the mean level of the model and the variance level of the model, namely ARMA, GARCH, and EGARCH. The results of this study are, in the three years before the sub-prime crisis, no autocorrelation for all variables, whereas the sub-prime crisis period showed the existence of autocorrelation. However, there is no autocorrelation during the COVID-19 pandemic. The stock index variable's optimal model is the GARCH model, while the exchange rate and interest rate use the EGARCH model. Furthermore, the financial sector's risk increased during the subprime mortgage crisis as indicated by an increase in stock index volatility, exchange rate, and interest rate from the pre-crisis period. Keywords: risk, ARMA, GARCH, EGARCH, sub-prime crisis, COVID-19
本研究旨在分析印度尼西亚金融部门与美国次贷案件和COVID-19大流行相关的风险。本研究采用2006 - 2020年的时间序列模型进行对比分析。数据包括从Datastream收集的股票指数、汇率和利率变量。本研究计算模型的均值水平和模型的方差水平,即ARMA、GARCH和EGARCH。本研究的结果是,在次贷危机前三年,所有变量都不存在自相关,而次贷危机时期则存在自相关。然而,在COVID-19大流行期间不存在自相关性。股指变量的最优模型为GARCH模型,汇率和利率的最优模型为EGARCH模型。此外,在次贷危机期间,金融部门的风险增加,表现为股指波动率、汇率和利率较危机前有所增加。关键词:风险,ARMA, GARCH, EGARCH,次贷危机,COVID-19
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引用次数: 3
MAPPING FINANCIAL POTENTIAL OF SMALL AND MEDIUM ENTERPRISES (SMEs) AND THE ECONOMIC SECTOR OF SERANG DISTRICT 绘制中小企业(sme)和雪朗地区经济部门的金融潜力
Pub Date : 2021-01-28 DOI: 10.17358/IJBE.7.1.30
Indri Arrafi Juliannisa, Tri Siswantini
The existence of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia is considered as an economic buffer for three main reasons: 1) better performance at producing a productive workforce; 2) productivity increase through investment and actively following changes in technology; and 3) flexibility advantage compared to large business. The number of human resources who have the potential to become SME actors in Serang District is currently quite large, and the industrial sector is a superior sector that provides the largest contribution to the GRDP of Serang District. The purposes of this study were to find out how to map the financial potential of SMEs in Serang District and how to grow and map the economic sector in Serang District. This study used quantitative and qualitative analysis techniques (mixed methods), focusing on field conditions and the community in the studied area. This study found things that could increase MSMEs' financial potential in Serang District, namely capital, licensing, and product quality and marketing. Based on LQ analysis, the agricultural sector's outputs could be exported and expand the trade market share in other countries. Besides, Serang District is located in quadrant 3, with five potential economic sectors that could be developed further. Other economic sectors' potentials could be explored by subsector and be developed further. Keywords: SME financial potential, regional economic potential, klassen typology, location quotient, regional economy
印度尼西亚的微型、小型和中型企业(MSMEs)的存在被认为是经济缓冲,主要有三个原因:1)在生产生产性劳动力方面表现更好;2)通过投资和积极跟随技术变化来提高生产率;3)与大型企业相比具有灵活性优势。目前,在雪朗区有潜力成为中小企业的人力资源数量相当多,而工业部门是对雪朗地区生产总值贡献最大的优势部门。本研究的目的是找出如何绘制中小企业在雪朗区的金融潜力,以及如何发展和绘制雪朗区的经济部门。本研究采用定量与定性相结合的分析方法(混合方法),以野外条件和研究区群落为重点。本研究发现,可以增加中小微企业在雪朗区的金融潜力,即资金,许可,产品质量和营销。根据LQ分析,农业部门的产出可以出口,扩大在其他国家的贸易市场份额。此外,雪朗区位于第三象限,有五个潜在的经济部门可以进一步发展。其他经济部门的潜力可分部门探索和进一步发展。关键词:中小企业金融潜力,区域经济潜力,klassen类型,区位商,区域经济
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引用次数: 2
ANALYSIS STRATEGIC ENTREPRENEURSHIP MODEL IN BOGOR CITY CULINARY SMEs 分析茂物市烹饪中小企业的战略创业模式
Pub Date : 2021-01-28 DOI: 10.17358/IJBE.7.1.1
Intan Widya Pertiwi, Lindawati Kartika
The growth of SMEs in Bogor city creates intense competition and requires businesses to be more strategic by utilizing business opportunities and seeking competitive advantage by adopting a strategic entrepreneurial model. The purpose of this study was to identify the management of strategic entrepreneurship in culinary SMEs in Bogor City and analyze the influence between the elements of input, processes, and output of the strategic entrepreneurship model. This research used descriptive analysis and the SEM-PLS method. The implementation of strategic entrepreneurship in Bogor City culinary SMEs has been in an excellent performance. It is based on the average results of each variable more than 3.4, which is categorized as very good. The results of SEM-PLS analysis showed that the environmental factors, organizations, and individuals influenced the orchestration of resources and strategic entrepreneurship affected the output of creating competitive advantage and creating wealth and benefits for individuals, organizations, and society. Keywords: competitive advantage, culinary, opportunities, strategic entrepreneurship, small medium enterprise (SMEs)
中小企业在茂物市的成长创造了激烈的竞争,并要求企业通过采用战略创业模式,利用商业机会和寻求竞争优势更具战略性。本研究旨在厘清茂物市烹饪中小企业的战略创业管理,并分析战略创业模式的投入、过程和产出要素之间的影响。本研究采用描述性分析和SEM-PLS方法。在茂物市实施战略创业的烹饪中小企业一直表现优异。它是基于每个变量的平均结果超过3.4,被归类为非常好。SEM-PLS分析结果表明,环境因素、组织和个人影响了资源的配置,战略创业影响了个人、组织和社会创造竞争优势和创造财富和利益的产出。关键词:竞争优势,烹饪,机遇,战略创业,中小企业
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引用次数: 2
CUSTOMER PREFERENCE AND SATISFACTION LEVEL TOWARD ORGANIC VEGETABLE ATTRIBUTE (CASE STUDY ON TOP BUAH SEGAR CIBUBUR) 消费者对有机蔬菜属性的偏好与满意程度(以top buah segarcibubur为例)
Pub Date : 2021-01-28 DOI: 10.17358/IJBE.7.1.53
Evy Fausiah, M. Sarma, M. Najib
With the increasing public awareness of healthy lifestyles, the demand for organic agricultural products, especially vegetable products, currently continues to increase day by day. Therefore, it will require sufficient information and knowledge about the characteristics, preferences, and satisfaction of consumers with the attributes of organic vegetables to be used as a basis for understanding the needs for organic vegetable consumption. This study aimed to analyze consumer preference for organic vegetables and consumer satisfaction with organic vegetables' attributes. The data collection method used was the purposive sampling technique through distributing questionnaires to 140 respondents. Meanwhile, the data processing methods used in this study were conjoint analysis, IPA, and CSI. The result of the calculation of customer preference in this research showed that packaging was an indicator that had the highest level of importance at 28.99 percent. Hence, it needs innovation by describing the benefits and nutritional content of organic vegetables to increase consumer appeal. Based on IPA results, two attributes' performance had the highest priority to be improved by the company: affordable organic vegetable prices and organic vegetable discounts. Thus, the discounted prices are needed on specific days such as the Anniversary of the company and holidays. Furthermore, based on the CSI calculation results, the customers were considered satisfied with the performance of Top Buah Segar Cibubur. Keywords: CSI, IPA, customer preference, customer satisfaction, organic vegetables
随着公众对健康生活方式意识的提高,目前对有机农产品,特别是蔬菜产品的需求日益增加。因此,需要有足够的信息和知识来了解消费者对有机蔬菜的特性、偏好和满意度,以此作为了解有机蔬菜消费需求的基础。本研究旨在分析消费者对有机蔬菜的偏好及消费者对有机蔬菜属性的满意程度。数据收集方法为目的抽样法,通过向140名受访者发放问卷。同时,本研究采用的数据处理方法为联合分析、IPA和CSI。本研究对顾客偏好的计算结果表明,包装是一个重要程度最高的指标,占28.99%。因此,它需要创新,通过描述有机蔬菜的好处和营养成分来增加消费者的吸引力。根据IPA的结果,两个属性的绩效是公司最优先需要改善的:可负担的有机蔬菜价格和有机蔬菜折扣。因此,在特定的日子,如公司周年纪念日和节假日,需要折扣价格。此外,根据CSI计算结果,客户认为Top Buah Segar Cibubur的性能是满意的。关键词:CSI, IPA,顾客偏好,顾客满意度,有机蔬菜
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引用次数: 0
SANTRIPRENEURSHIP: INTERNALIZING THE VALUES OF INDEPENDENCE IN THE DIGITAL ERA (CASE OF PONDOK PESANTREN IN MALANG RAYA) santrientrepreneurship:数字化时代独立价值观的内化(以malang raya pondok pesantren为例)
Pub Date : 2020-11-09 DOI: 10.17358/ijbe.6.3.282
I. Malá, H. Pratikto, A. Winarno
This study aimed to reveal the process of internalizing the self-reliance values of santri in the digital era at pondok pesantren Malang Raya, East Java. The approach of this study was descriptive and qualitative. The data were collected through in-depth interviews and observations with the respondents consisting of three kiai, five board of pondok pesantren, three teachers, and eight students. The data analysis used a simultaneous stage model consisting of approach, extracting, deepening, matching, interpretation, and presentation. The results showed that the character values implanted were the values of independence, namely not depending on others and not oriented to the company/employee organization. The value cultivation system was carried out using the kiai's teachings through learning based on the available ulama books and practical assignments to assist trading businesses, product processing, and services in pondok pesantren's cooperative. Utilization and understanding of the use of internet technology is very appropriate in the context of reducing the character ordering morality. Keywords: digital era, obedience to kiai, santri, values of independence
本研究旨在揭示东爪哇玛琅拉雅pondok pesantren的自力更生价值观在数位时代的内化过程。本研究采用描述性和定性相结合的方法。本研究的资料是透过深入访谈及观察收集而来,受访者包括3位教友、5位朋德堂议员、3位教师及8位学生。数据分析采用了由方法、提取、深化、匹配、解释和呈现组成的同步阶段模型。结果表明,被植入的人格价值观是独立的价值观,即不依赖他人,不以公司/员工组织为导向。价值培养系统是利用kiai的教导,通过学习现有的乌拉玛书籍和实际作业来协助pondok农民合作社的贸易业务,产品加工和服务。对网络技术的运用和理解,在降低人格秩序道德的背景下是非常恰当的。关键词:数字时代、服从、自律、独立价值观
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引用次数: 0
SETTING UP A BUSINESS ENVIRONMENT TO INTRODUCE A NEW MATERIAL FOR PACKAGING IN INDONESIA 在印尼建立一个商业环境,引进一种新的包装材料
Pub Date : 2020-09-28 DOI: 10.17358/ijbe.6.3.302
Andina Oktariani, Nyayu Lathifah Tirdasari, N. Hasanah, D. Indrawan
Along with the development of consumer behavior that focus on environment, it encourages company to use eco-friendly as attribute to the value preposition on generated product. Although Indonesian consumer aware of environment issues, still they prefer to choose another aspect instead of environmentally friendly on the product that bought by consumer. The aim of this research was to study the factors of environment business that able to support the success of new material development on the environmentally friendly packaging. The method that used in this research is factor analysis. The result of this research show that there are 2 (two) cluster of factors which supported the success of new material development on the environmentally friendly packaging, first factor is advocacy factor towards the innovation of using new material that competitive and logistic infrastructure factor of new material which supported by institutional network. The study is useful for policy maker to organize the right strategy formulation to be implemented on the development of new resource for the environmentally friendly packaging. Keywords: new material, packaging, eco-friendly, factor analysis
随着注重环境的消费者行为的发展,它鼓励公司使用生态友好的属性作为价值介词上产生的产品。虽然印尼消费者意识到环境问题,但他们仍然倾向于选择另一个方面而不是环保的产品。本研究的目的是研究环境业务的因素,能够支持新材料开发的成功对环境友好的包装。本研究采用的方法是因子分析法。研究结果表明,支持环保包装新材料开发成功的因素有2个集群,第一个是对新材料使用创新的倡导因素、机构网络支持的新材料竞争力和物流基础设施因素;研究结果可为政策制定者制定正确的环保包装新资源开发战略提供参考。关键词:新材料;包装;环保
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引用次数: 1
FACTORS AFFECTING USER BEHAVIOR OF TECHNOLOGY APPLICATION OF MANAGEMENT INFORMATION SYSTEM 影响管理信息系统技术应用用户行为的因素
Pub Date : 2020-09-28 DOI: 10.17358/ijbe.6.3.239
Lisa Rosiana, M. Hubeis, Eko Ruddy Cahyadi
This research aimed to determine the factors influencing the behavior of management information system users at the National Accreditation Committee. The theory used was based on the Technology Acceptance Model (TAM) theory extension, and the analytical method used was the Structural Equation Model (SEM). The factors were according to Davis's modified theory, where external factors were the quality of internet connection and leadership support. Internal factors included perceived ease of use and perceived usefulness, attitudes toward using, behavioral intention to use, and actual system use. This research was conducted on 128 respondents representing the Conformity Assessment Bodies (CABs). This research showed that leadership support had a significant effect on perceived ease of use and perceived usefulness. Meanwhile, the quality of the internet connection only affected the perceived usefulness. Leadership support, quality of internet connection, perceived ease of use, perceived usefulness, and attitudes toward using were factors that affected user behavior intention to use. This research's managerial implication is to strengthen the server and increase the leadership's motivation towards the CAB employees by socializing accreditation applications.
本研究旨在确定影响国家认可委员会管理信息系统用户行为的因素。所采用的理论是基于技术接受模型(TAM)理论的扩展,分析方法是结构方程模型(SEM)。根据Davis的修正理论,外部因素为网络连接质量和领导支持。内部因素包括感知易用性和感知有用性、对使用的态度、使用的行为意图和实际系统使用。这项研究是对代表合格评定机构(cab)的128名受访者进行的。本研究发现,领导支持对感知易用性和感知有用性有显著影响。同时,网络连接的质量只影响感知有用性。领导支持、网络连接质量、感知易用性、感知有用性和使用态度是影响用户行为使用意向的因素。本研究的管理启示是通过社会化认证申请,强化服务机制,提高领导对CAB员工的激励。
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引用次数: 2
HOW DOES TAX AVOIDANCE AFFECT FIRM VALUE? (LESSONS FROM SOE AND INDONESIAN PRIVATE COMPANIES) 避税如何影响公司价值?(国有企业和印尼私营企业的经验教训)
Pub Date : 2020-09-28 DOI: 10.17358/ijbe.6.3.215
Maulida Aulia Rezki, N. Achsani, H. Sasongko
Taxes are the main source of state revenue and become an important factor for the running of government and development of the country with the largest contribution coming from corporate income tax. Different objectives of business ownership result in different tax management. This study analyzes the characteristics of tax avoidance, determinants and influences on firm value in state-owned and private companies. This study uses secondary data sources in the form of quarterly company financial statements, company stock price reports, and other related data. Descriptive and panel data analysis were used to examine the sample in this study which includes non-financial companies that are continuously profitable and listed in the LQ45 index for the period February 2014 to July 2019. The results of the study explain that private companies are more dominant in tax avoidance conduct compared to State-Owned Enterprises (SOEs). The determinants that influence the tax avoidance of SOEs are ROA and firm size, whereas in private companies there are no determinants that have a significant effect. There is significant negative impact in State-owned companies from tax avoidance on the firm value, while private company does not have a significant effect.
税收是国家收入的主要来源,是政府运行和国家发展的重要因素,其中企业所得税贡献最大。不同的企业所有权目标导致不同的税收管理。本文分析了国有企业和民营企业避税的特点、决定因素及其对企业价值的影响。本研究使用的二手数据来源为公司季度财务报表、公司股价报告和其他相关数据。本研究采用描述性和面板数据分析来检验样本,其中包括2014年2月至2019年7月期间连续盈利并在LQ45指数中上市的非金融公司。研究结果解释了与国有企业相比,私营企业在避税行为中更占主导地位。影响国有企业避税的决定因素是总资产收益率和企业规模,而在私营企业中,没有任何决定因素具有显著影响。国有企业避税对企业价值有显著的负向影响,而民营企业不存在显著的影响。
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引用次数: 4
LAND RIGHT’S APPLICATION IN ACCORDANCE WITH THE USE OF EXISTING SPACE IN MEDAN CITY 棉兰市现有空间利用的土地权利运用
Pub Date : 2020-09-28 DOI: 10.17358/ijbe.6.3.292
A. Rangkuti, M. Lubis
One of the tasks of the Ministry of Agrarian and Spatial Planning/National Land Agency of the Republic of Indonesia is to provide types of land rights in each region throughout Indonesia. The purpose of this study is aimed for the institution of the National Land Agency throughout Indonesia to provide land rights based on the type of land allocation and its usage. This is a normative legal study in which data were collected through library research with the support of empirical data from the Land Agency of Medan. The allocation system, a type of land zone division system, is utilized by the Municipal Land Affairs Office of Medan to establish land rights. Building rights are granted by the Land Agency when a zone has been allocated as a trading area, although in practice there are still a lot of lands used for residential purposes. The designation system for the granting of land rights assigned by the Municipal Land Affairs Office of Medan, based on Regional Regulation No. 2 of 2015, failed to uphold justice for the people of Medan that applied for the rights to the land under their name. Therefore, a more applicable system is the existing spatial system or a system based on the land’s actual use in practice
印度尼西亚共和国土地和空间规划部/国家土地局的任务之一是在印度尼西亚全国每个区域提供各种土地权利。这项研究的目的是为了在印度尼西亚全国设立国家土地局,根据土地分配的类型及其用途提供土地权利。这是一项规范性的法律研究,其中的数据是通过图书馆研究收集的,并得到了棉兰土地局的实证数据的支持。划拨制度是土地分区制度的一种,是棉兰市土地事务办公室用来确立土地权利的制度。当一个区域被分配为商业区时,土地管理局会授予建筑权,尽管实际上仍有很多土地被用于住宅用途。棉兰市土地事务办公室根据2015年第2号地区条例分配的土地权利授予指定制度未能为以自己名义申请土地权利的棉兰人民伸张正义。因此,更适用的系统是现有的空间系统或实践中基于土地实际利用的系统
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引用次数: 0
SOCIAL ENTREPRENEUER IN ORGANIZATIONAL CULTURE AND ORGANIZATIONAL EFFECTIVENESS IN SUSTAINABILITY OF SEKOLAH PETERNAKAN RAKYAT NGUDI REJEKI KEDIRI 社会企业家在组织文化中的作用和组织效能在可持续性中的作用
Pub Date : 2020-09-28 DOI: 10.17358/ijbe.6.3.269
Nurus Sabani, A. Sukmawati, I. Sumertajaya
This study aimed to analyze the influence of social entrepreneurs, organizational culture, and organizational effectiveness for the sustainability of the Sekolah Peternakan Rakyat Ngudi Rejeki (SPR). The study population and sample were all members of the Sekolah Peternakan Rakyat Ngudi Rejeki, amounting to 31 SPR members. Interviews and questionnaires did the data collection, and the data was analyzed with the structural equation model - partial least square (SEM-PLS). The results showed that social entrepreneurs have a positive and significant effect on organizational culture, organizational effectiveness, and indirectly on organizational sustainability; organizational culture has a positive and significant effect on organizational effectiveness. Culture has not significantly or indirectly affected sustainability. Organizational effectiveness has not significant effect on organizational sustainability. Keywords: organizational culture, organizational effectiveness, organizational sustainability, Social entrepreneur, SPR
本研究旨在分析社会企业家、组织文化和组织效能对社会企业家组织可持续发展的影响。研究人口和样本都是Sekolah Peternakan Rakyat Ngudi Rejeki的成员,共31名特别方案资源成员。通过访谈和问卷进行数据收集,并采用结构方程模型-偏最小二乘法(SEM-PLS)对数据进行分析。结果表明:社会企业家对组织文化、组织效能有显著正向影响,对组织可持续性有间接影响;组织文化对组织效能有显著的正向影响。文化对可持续性没有显著或间接的影响。组织效能对组织可持续性的影响不显著。关键词:组织文化、组织效能、组织可持续性、社会企业家、战略资源
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引用次数: 0
期刊
Journal of Business and Entrepreneurship
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