It has been established in the literature that the trading behavior of international investors may increase market vulnerability, especially for emerging markets. Consequently, this study examines whether positive feedback trading exists in the Nigerian stock market. Both descriptive and inferential analyses are carried out on monthly data covering the period 2013 to 2020. Specifically, the ARDL bounds testing approach is employed. Findings indicate that positive feedback trading exists in the market, as stock returns have positive and significant influence on foreign portfolio inflows. The results further show that this trading pattern becomes more prominent with rising economic growth. The findings again reveal that the exchange rate and the interest rate explain the foreign portfolio inflows in the Nigerian market. The study’s outcomes lend support for the pull theory in explaining the foreign portfolio inflow. However, no evidence is found in support of the push theory, as an explanation for the foreign portfolio inflow as the “OPEC basket crude oil price” is insignificant. It is thereby recommended that regulators should adopt measures that will help foreign investors to be better informed about the Nigerian market, in order to reduce their positive feedback trading behavior. Moreso, there is a need for the government to put in place policies targeted toward enhancing the growth of the stock market and the economy. In this way, the negative impact of such trading behavior will be minimal, as short-term trading by foreign investors will be reduced and the foreign portfolio inflows will be sustainable.
{"title":"A Test of Positive Feedback Trading among Foreign Portfolio Investors in Nigeria","authors":"R. Abdulkadir","doi":"10.22146/gamaijb.69984","DOIUrl":"https://doi.org/10.22146/gamaijb.69984","url":null,"abstract":"It has been established in the literature that the trading behavior of international investors may increase market vulnerability, especially for emerging markets. Consequently, this study examines whether positive feedback trading exists in the Nigerian stock market. Both descriptive and inferential analyses are carried out on monthly data covering the period 2013 to 2020. Specifically, the ARDL bounds testing approach is employed. Findings indicate that positive feedback trading exists in the market, as stock returns have positive and significant influence on foreign portfolio inflows. The results further show that this trading pattern becomes more prominent with rising economic growth. The findings again reveal that the exchange rate and the interest rate explain the foreign portfolio inflows in the Nigerian market. The study’s outcomes lend support for the pull theory in explaining the foreign portfolio inflow. However, no evidence is found in support of the push theory, as an explanation for the foreign portfolio inflow as the “OPEC basket crude oil price” is insignificant. It is thereby recommended that regulators should adopt measures that will help foreign investors to be better informed about the Nigerian market, in order to reduce their positive feedback trading behavior. Moreso, there is a need for the government to put in place policies targeted toward enhancing the growth of the stock market and the economy. In this way, the negative impact of such trading behavior will be minimal, as short-term trading by foreign investors will be reduced and the foreign portfolio inflows will be sustainable.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48487008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines the association between a firm’s financial distress and audit report lags. Through this analysis, we intend to reveal whether auditors consider theclients’ financial distress when performing external audits. This study employs 2,786 firmyear observations from 2011 to 2018. The sample of this study consists of companies listedon the Korea Composite Stock Price Index (KOSPI) and the Korea Securities Dealers Automated Quotation (KOSDAQ). We perform OLS regression analysis to test our hypothesis. The OLS regression analysis is conducted through the SAS and STATA programs.We find that there is a significant and positive association between financial distress andaudit report lags. The audit report lags increase as the likelihood of clients’ financial distress increases. The results indicate that audits take different amounts of audit effort whenauditors consider financial distress as a business risk when they conduct audits. In otherwords, we provide evidence that auditors increase the amount of audit effort when thelikelihood of clients’ financial distress is high. In the absence of studies on how externalauditors respond to audited firms' financial distress, this study analyzes whether externalauditors change their audit efforts by assessing the audited firms' financial distress. Second, the empirical result that external auditors actually follow the guidelines related tobusiness risk and financial distress specified in the Korean Auditing Standards supportsthe effectiveness of the business risk-related regulations specified in the Korean AuditingStandards
{"title":"Financial Distress and Audit Report Lags: An Empirical Study in Korea","authors":"Jihwan Choi, Hyung Ju Park","doi":"10.22146/gamaijb.72251","DOIUrl":"https://doi.org/10.22146/gamaijb.72251","url":null,"abstract":"This study examines the association between a firm’s financial distress and audit report lags. Through this analysis, we intend to reveal whether auditors consider theclients’ financial distress when performing external audits. This study employs 2,786 firmyear observations from 2011 to 2018. The sample of this study consists of companies listedon the Korea Composite Stock Price Index (KOSPI) and the Korea Securities Dealers Automated Quotation (KOSDAQ). We perform OLS regression analysis to test our hypothesis. The OLS regression analysis is conducted through the SAS and STATA programs.We find that there is a significant and positive association between financial distress andaudit report lags. The audit report lags increase as the likelihood of clients’ financial distress increases. The results indicate that audits take different amounts of audit effort whenauditors consider financial distress as a business risk when they conduct audits. In otherwords, we provide evidence that auditors increase the amount of audit effort when thelikelihood of clients’ financial distress is high. In the absence of studies on how externalauditors respond to audited firms' financial distress, this study analyzes whether externalauditors change their audit efforts by assessing the audited firms' financial distress. Second, the empirical result that external auditors actually follow the guidelines related tobusiness risk and financial distress specified in the Korean Auditing Standards supportsthe effectiveness of the business risk-related regulations specified in the Korean AuditingStandards","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44211617","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Voting decisions have become a strategic tool to analyze whether voters consider an incumbent's economic policies make it worthwhile re-electing the incumbent. If a strong correlation between the information on economic policies and the election results could be proved, evidence would thus be found that government accounting captures data on the attributes of government finances, consistent with the information incorporated by constituents in their voting decisions. This study investigates the association between government accounting information and local election outcomes and observes two regional government clusters that held local elections in 2017 and 2018, in which 198 incumbents ran for office again. By employing regression analysis, this study finds that several accounting information items impact the vote acquisition of the incumbents. The specific finding is that budget accounting information has a more decisive influence on votes for the incumbents than financial accounting information does. The result implies budgetary accounting information that represents service performance is beneficial for gaining votes. The limitation that should be considered is the emphasis on the assumption of voter rationality, in which the voters accumulate performance information on the incumbents for their voting decisions. It is highly improbable that voters will allocate time to collecting and reading government financial statements on purpose.
{"title":"Does Government Accounting Information Matter to Gain Votes? Evidence from Local Elections in Indonesia","authors":"Dyah Purwanti","doi":"10.22146/gamaijb.64668","DOIUrl":"https://doi.org/10.22146/gamaijb.64668","url":null,"abstract":"Voting decisions have become a strategic tool to analyze whether voters consider an incumbent's economic policies make it worthwhile re-electing the incumbent. If a strong correlation between the information on economic policies and the election results could be proved, evidence would thus be found that government accounting captures data on the attributes of government finances, consistent with the information incorporated by constituents in their voting decisions. This study investigates the association between government accounting information and local election outcomes and observes two regional government clusters that held local elections in 2017 and 2018, in which 198 incumbents ran for office again. By employing regression analysis, this study finds that several accounting information items impact the vote acquisition of the incumbents. The specific finding is that budget accounting information has a more decisive influence on votes for the incumbents than financial accounting information does. The result implies budgetary accounting information that represents service performance is beneficial for gaining votes. The limitation that should be considered is the emphasis on the assumption of voter rationality, in which the voters accumulate performance information on the incumbents for their voting decisions. It is highly improbable that voters will allocate time to collecting and reading government financial statements on purpose.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45741286","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nurul Shahnaz Mahdzan, Mohd Edil Abd. Sukor, Rozaimah Zainudin, F. Zainir, Wan Marhaini Wan Ahmad
This study compares the level of financial well-being (FWB) and its antecedents(financial stress, financial behaviour, financial literacy, and the internal locus of control(LOC)) across individuals of different employment categories in Malaysia. Second, it investigates the relationship between those antecedents and FWB and compares the differences in the strength. Data were collected from 1,867 respondents from four employmentgroups using a questionnaire-based survey. Descriptive statistics and analysis of variance (ANOVA) were conducted to achieve the first research objective, and ordinary leastsquares (OLS) regression was used to achieve the second research objective. The resultsindicate that FWB and its antecedents of Malaysian employees vary considerably acrossemployment categories. The FWB of the unemployed and private-sector workers is significantly lower than their government sector and self-employed counterparts. Financialstress, financial behavior, and an internal LOC are the most determinative of employees’FWB, however, they have varying degrees of impact across different employment categories. The results relate to employers and policymakers in formulating strategies to promotehigher FWB among Malaysian employees, based on their employment categories.
{"title":"A Comparison of Financial Well-Being and Its Antecedents Across Different Employment Categories in Malaysia","authors":"Nurul Shahnaz Mahdzan, Mohd Edil Abd. Sukor, Rozaimah Zainudin, F. Zainir, Wan Marhaini Wan Ahmad","doi":"10.22146/gamaijb.73947","DOIUrl":"https://doi.org/10.22146/gamaijb.73947","url":null,"abstract":"This study compares the level of financial well-being (FWB) and its antecedents(financial stress, financial behaviour, financial literacy, and the internal locus of control(LOC)) across individuals of different employment categories in Malaysia. Second, it investigates the relationship between those antecedents and FWB and compares the differences in the strength. Data were collected from 1,867 respondents from four employmentgroups using a questionnaire-based survey. Descriptive statistics and analysis of variance (ANOVA) were conducted to achieve the first research objective, and ordinary leastsquares (OLS) regression was used to achieve the second research objective. The resultsindicate that FWB and its antecedents of Malaysian employees vary considerably acrossemployment categories. The FWB of the unemployed and private-sector workers is significantly lower than their government sector and self-employed counterparts. Financialstress, financial behavior, and an internal LOC are the most determinative of employees’FWB, however, they have varying degrees of impact across different employment categories. The results relate to employers and policymakers in formulating strategies to promotehigher FWB among Malaysian employees, based on their employment categories.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42037533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nowadays, consumption patterns concern consumers since they have negative impacts on environmental sustainability. Marketers have conducted some efforts to create eco-friendly products. This condition has caused research into green marketing to grow significantly. Various studies have been conducted to examine consumers' behavior intentions toward green products. However, the theory applied to explain the phenomenon still has the potential to be developed. Thus, in this study, the researchers examine the consumers' switching intention from conventional cosmetics to green cosmetics, by applying the migration theory and the push-pull-mooring framework. The push factors are explained by the dissatisfaction variable and the low-quality variable. The alternative attractiveness variable explains the pull factor. Meanwhile, the mooring factors are explained by variety-seeking and the unfavorable subjective norm variables. PLS-SEM is used to analyze 198 consumers of conventional cosmetics. The results indicate that the pull factor is the main factor that supports the consumers' switching intention to green cosmetics, and the second is the push factor. Furthermore, the mooring factors are proven to moderate the effect of the pull factor on consumers' switching intention. On the other hand, the mooring factors are not shown to moderate the influence of the push factors on the consumers' switching intention.
{"title":"The Effect of Push, Pull, and Mooring Factors on Customers’ Switching Intention to Green Cosmetics","authors":"Asri Sekar Mawar Firdausi, Basu Swahtha Dharmmesta","doi":"10.22146/gamaijb.69863","DOIUrl":"https://doi.org/10.22146/gamaijb.69863","url":null,"abstract":"Nowadays, consumption patterns concern consumers since they have negative impacts on environmental sustainability. Marketers have conducted some efforts to create eco-friendly products. This condition has caused research into green marketing to grow significantly. Various studies have been conducted to examine consumers' behavior intentions toward green products. However, the theory applied to explain the phenomenon still has the potential to be developed. Thus, in this study, the researchers examine the consumers' switching intention from conventional cosmetics to green cosmetics, by applying the migration theory and the push-pull-mooring framework. The push factors are explained by the dissatisfaction variable and the low-quality variable. The alternative attractiveness variable explains the pull factor. Meanwhile, the mooring factors are explained by variety-seeking and the unfavorable subjective norm variables. PLS-SEM is used to analyze 198 consumers of conventional cosmetics. The results indicate that the pull factor is the main factor that supports the consumers' switching intention to green cosmetics, and the second is the push factor. Furthermore, the mooring factors are proven to moderate the effect of the pull factor on consumers' switching intention. On the other hand, the mooring factors are not shown to moderate the influence of the push factors on the consumers' switching intention.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46673906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Resekiani Mas Bakar, Fitriani Ayu, Lukman Nadjamuddin
The current service trend does not merely involve face-to-face interactions, including smiling (high-contact-service) by service employees, but also using methods such as texting (low-contact service). Sincere and insincere smile studies have used a method involving dynamic (videos) and static stimuli (photographs). However, research into the different types of smiles is still limited to methods using a vignette. This study aims to examine the effect of the type of smile on customer satisfaction using a vignette and video. A total of 139 people participated in 2 (smile: sincere versus insincere) x 2 (media: vignette versus video) groups. The study found that there is an influence from the type of smile on customer satisfaction. A sincere smile using video produces greater customer satisfaction than using a vignette does, because the emotional contagion process through video is more real than it is through a vignette. The interesting finding from this study is that there is a gap in the insincere smile condition between using video and a vignette. The dissatisfaction of customers is greater when served with an insincere smile by text (vignette), compared with a face-to-face interaction by video. Video could only capture the muscle movement on a person’s cheeks (zygomaticus major), but it could not see the muscle wrinkles formed around the eyes (orbicularis oculi), compared to a vignette. This study implies that although the standard operational procedure (SOP) for service demands friendliness, a customer can feel whether a server’s smile is genuine or fake. The customer’s dissatisfaction toward an insincere smile will be higher with a low-contact service using text than a high-contact service with video.
{"title":"Is Service with a Smile Enough to Satisfy Customers? Sincere and Insincere Smiles via Video and Vignette","authors":"Resekiani Mas Bakar, Fitriani Ayu, Lukman Nadjamuddin","doi":"10.22146/gamaijb.46227","DOIUrl":"https://doi.org/10.22146/gamaijb.46227","url":null,"abstract":"The current service trend does not merely involve face-to-face interactions, including smiling (high-contact-service) by service employees, but also using methods such as texting (low-contact service). Sincere and insincere smile studies have used a method involving dynamic (videos) and static stimuli (photographs). However, research into the different types of smiles is still limited to methods using a vignette. This study aims to examine the effect of the type of smile on customer satisfaction using a vignette and video. A total of 139 people participated in 2 (smile: sincere versus insincere) x 2 (media: vignette versus video) groups. The study found that there is an influence from the type of smile on customer satisfaction. A sincere smile using video produces greater customer satisfaction than using a vignette does, because the emotional contagion process through video is more real than it is through a vignette. The interesting finding from this study is that there is a gap in the insincere smile condition between using video and a vignette. The dissatisfaction of customers is greater when served with an insincere smile by text (vignette), compared with a face-to-face interaction by video. Video could only capture the muscle movement on a person’s cheeks (zygomaticus major), but it could not see the muscle wrinkles formed around the eyes (orbicularis oculi), compared to a vignette. This study implies that although the standard operational procedure (SOP) for service demands friendliness, a customer can feel whether a server’s smile is genuine or fake. The customer’s dissatisfaction toward an insincere smile will be higher with a low-contact service using text than a high-contact service with video.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43967129","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study’s aim is to conduct an empirical investigation of the impact of supply chain practices on firm performance. The prime objective of the paper is to study the impact of information-sharing practices and inventory management on firm performance. To realize the specified objective of the study, data were gathered from 170 individuals who are familiar with the supply chain practices of the companies and analyzed using structural equation modeling (SEM). The result shows a significant direct and indirect effect of information sharing and inventory management practices on firm performance. Generally, the results show that higher information-sharing practices and better inventory management practices lead to greater firm performance; and higher information-sharing leads to improved inventory management, which in turn leads to greater firm performance. Theoretically, the result provides evidence of the effects of information sharing and inventory management on the supply chain practices’ performance in a firm. The managerial implications of the results are enhancing information sharing and inventory management practices by adopting, internalizing, and building information technology into all the business operations to enhance information sharing and inventory management practices to enhance firm performance.
{"title":"The Impact of Information Sharing and Inventory Management Practices on Firms’ Performance in Supply Chain Practices","authors":"D. Gebisa","doi":"10.22146/gamaijb.69616","DOIUrl":"https://doi.org/10.22146/gamaijb.69616","url":null,"abstract":"This study’s aim is to conduct an empirical investigation of the impact of supply chain practices on firm performance. The prime objective of the paper is to study the impact of information-sharing practices and inventory management on firm performance. To realize the specified objective of the study, data were gathered from 170 individuals who are familiar with the supply chain practices of the companies and analyzed using structural equation modeling (SEM). The result shows a significant direct and indirect effect of information sharing and inventory management practices on firm performance. Generally, the results show that higher information-sharing practices and better inventory management practices lead to greater firm performance; and higher information-sharing leads to improved inventory management, which in turn leads to greater firm performance. Theoretically, the result provides evidence of the effects of information sharing and inventory management on the supply chain practices’ performance in a firm. The managerial implications of the results are enhancing information sharing and inventory management practices by adopting, internalizing, and building information technology into all the business operations to enhance information sharing and inventory management practices to enhance firm performance.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46557811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines the relations between the CEO type (owner CEO vs. professional CEO) and earnings management over 9,266 firm-years from 2011 to 2020 in Korea. Two earnings management measures, accrual management and real activity management (abnormal cash flow from operations, abnormal production cost, and abnormal discretionary expense), are considered as means to avoid reporting losses or earnings decreases. We partition the sample into two groups based on the type of CEO (owner CEO vs. professional CEO) and investigate whether earnings management is used for achieving earnings targets (small profit or small earnings increases) for each group. We find all earnings management measures are significant at the 5% level or better in the direction of aggressive earnings management in the owner CEO sample, while all but one measure (abnormal production cost) are insignificant in the professional CEO sample. Our findings suggest that an owner CEO is more likely to manage earnings to achieve small profit or small earnings increases compared to a professional CEO.
{"title":"CEO Type and Earnings Management to Avoid Loss or Earnings Decreases: Evidence from South Korea","authors":"Kyunga Na, Yun-jeong Lee, Hagyeong Yu","doi":"10.22146/gamaijb.72880","DOIUrl":"https://doi.org/10.22146/gamaijb.72880","url":null,"abstract":"This study examines the relations between the CEO type (owner CEO vs. professional CEO) and earnings management over 9,266 firm-years from 2011 to 2020 in Korea. Two earnings management measures, accrual management and real activity management (abnormal cash flow from operations, abnormal production cost, and abnormal discretionary expense), are considered as means to avoid reporting losses or earnings decreases. We partition the sample into two groups based on the type of CEO (owner CEO vs. professional CEO) and investigate whether earnings management is used for achieving earnings targets (small profit or small earnings increases) for each group. We find all earnings management measures are significant at the 5% level or better in the direction of aggressive earnings management in the owner CEO sample, while all but one measure (abnormal production cost) are insignificant in the professional CEO sample. Our findings suggest that an owner CEO is more likely to manage earnings to achieve small profit or small earnings increases compared to a professional CEO.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47242892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Entrepreneurship is a personality attribute that enables a person to discover resources passionately through a combination of new strategies to generate significant market value. Therefore, this research aims to examine the importance of the intellectual agility-resonance of businesses in all industrial sectors in Indonesia. Quantitative data were collected from 303 small and medium-sized micro-enterprises and analyzed using SEM-PLS line analysis. The result showed that the intellectual agility-resonance of entrepreneurial creativity increases satisfaction. Furthermore, empirical research on aspects like psychological well-being, financial optimism, job risks, and outcomes show what can be achieved through intellectual agility-resonance. Theoretically, entrepreneurial creativity is an intellectuality that comes from the dimension of the source of competitive excellence.
{"title":"Improving Entrepreneurial Satisfaction Through Creativity and Intellectual Agility-Resonance: Evidence from Indonesia","authors":"Roymon Panjaitan, Echan Adam, Muhammad Hasan","doi":"10.22146/gamaijb.69387","DOIUrl":"https://doi.org/10.22146/gamaijb.69387","url":null,"abstract":"Entrepreneurship is a personality attribute that enables a person to discover resources passionately through a combination of new strategies to generate significant market value. Therefore, this research aims to examine the importance of the intellectual agility-resonance of businesses in all industrial sectors in Indonesia. Quantitative data were collected from 303 small and medium-sized micro-enterprises and analyzed using SEM-PLS line analysis. The result showed that the intellectual agility-resonance of entrepreneurial creativity increases satisfaction. Furthermore, empirical research on aspects like psychological well-being, financial optimism, job risks, and outcomes show what can be achieved through intellectual agility-resonance. Theoretically, entrepreneurial creativity is an intellectuality that comes from the dimension of the source of competitive excellence.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47183676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
P. A. Mahadwartha, F. Ismiyanti, Zunairoh Zunairoh
This study tests three behavioral biases: the gambler’s fallacy, the halo effect, and the familiarity effect. The novelty is the behavioral bias in bullish and bearish markets, based on different investors’ risk profiles. The questionnaire used a Likert scale. This study argues that bullish and bearish markets, and different risk profiles, affect investors’ behavioral bias. The gambler’s fallacy occurs when markets are bullish and partially when markets are bearish. The halo effect without risk profile does not occur in either market, and the familiarity effect occurs in both markets. Investors with a very conservative risk profile will experience behavioral bias, especially the gambler’s fallacy and the familiarity effect, with bullish and bearish markets. Investors with a conservative risk profile will partially experience the halo effect in bullish markets.
{"title":"The Gambler’s Fallacy, the Halo Effect, and the Familiarity Effect Based on Risk Profile: Bullish and Bearish Market in Indonesia Stock Exchange","authors":"P. A. Mahadwartha, F. Ismiyanti, Zunairoh Zunairoh","doi":"10.22146/gamaijb.64801","DOIUrl":"https://doi.org/10.22146/gamaijb.64801","url":null,"abstract":"This study tests three behavioral biases: the gambler’s fallacy, the halo effect, and the familiarity effect. The novelty is the behavioral bias in bullish and bearish markets, based on different investors’ risk profiles. The questionnaire used a Likert scale. This study argues that bullish and bearish markets, and different risk profiles, affect investors’ behavioral bias. The gambler’s fallacy occurs when markets are bullish and partially when markets are bearish. The halo effect without risk profile does not occur in either market, and the familiarity effect occurs in both markets. Investors with a very conservative risk profile will experience behavioral bias, especially the gambler’s fallacy and the familiarity effect, with bullish and bearish markets. Investors with a conservative risk profile will partially experience the halo effect in bullish markets.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41413352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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