Indonesia Conference Directory

Corresponding Author
Ratna Ayu Gitasari

Institutions
a) Master of Management, Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia
*ra.gitasari[at]gmail.com
b) Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia

Abstract
Telecommunication companies reach a critical point. The high level of investment, competition from technology companies and dynamic customer behavior make the company have to make a strategy so that the company can continue to grow and be able to run its business. PT XL Axiata Tbk (XL) to conduct M&A towards PT Axis Telekom Indonesia (AXIS) in 2014. This research links it with connecting it with two companies engaged in the analysis field post-M&A. Evaluations carried out in this study were published in the XL period before M&A (2011-2013) up to five years after M&A (2014-2018). Based on the results of the synergy effects, the results of revenue synergies and the synergy of cost for several aspects (semi-variable cost & fixed cost) showed positive values. While financial synergy found a negative value (on average). The opportunity for XLs growth shows positive when integrating M&A but shows negative post-M&A.

Keywords
Merger, aqcuisition, synergy, XL, Axis, growth opportunity, value added

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/ZxPJRuFjzYBT

Corresponding Author
Yandhy Yuliansyah

Institutions
Faculty of Economics and Business, Telkom University
Jalan Gegerkalong Hilir No.47, Bandung 40251, Indonesia

Abstract
Information and Communication Technology Industry (ICT) is very important for the country and has become one of main factors in driving economic growth in various developed and developing countries. Along with technological developments and the level of competition in the ICT industry, efficiency is one of the important factors for companies to be able to survive and improve the competitiveness of companies. This study uses panel data and the Stochastic Frontier Analysis (SFA) method to analyse and compare the technical efficiency of 30 the most valuable brands ICT companies in the Southeast Asia and East Asia regions for the period 2013 to 2017. The model used in this study is the SFA Translog Production Function with 4 input variables (capital, labor, other input, and time) and 3 explanatory variables (firms size, firm age, and GDP per capita). The results of data processing using the Frontier 4.1 program indicate that the technical efficiency of 30 ICT companies from 9 countries in Southeast Asia and East Asia has increased with an average annual growth trend of 0.93%. Based on its location, companies operating in the East Asia region have higher average technical efficiency values compared to companies in the Southeast Asia region. Companies operating in Japan, China and the Philippines have the highest average value of technical efficiency of companies, while companies in Thailand, Malaysia and Indonesia have the lowest average value of technical efficiency.

Keywords
Technical Efficiency, Stochastic Frontier Analysis, Translog, ICT, Information and Communication Technology, Southeast Asia, East Asia

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/PQFXZKy9zMwC

Corresponding Author
Ratna L Nugroho

Institutions
Telkom University

Abstract
Women entrepreneurship has been growing and contributing significantly to economic activities, and it may also reduce unemployment, especially in developing countries. In Indonesia and Zimbabwe, entrepreneurship has become a very popular option among women. The high rate of entrepreneurship as a career choice among females is attributed to factors that are specific to females in these two countries, which may also possibly relate to other countries. The purpose of this paper is to understand the variables and their interrelationships that lead to sector crowding in entrepreneurship among females in Harare, Zimbabwe and Bandung, Indonesia. A phenomenological and comparative qualitative approach to research was adopted for this study to help the researcher gain deeper understanding of experiences of Bandung and Harare female entrepreneurs with respect to their to issues that influence their choice of sector to venture their business into in total early stage entrepreneurial activity (TEA). With a purposive sampling technique, 3 women from Bandung and 3 women from Harare active women entrepreneurs will sampled for the study. A multiple case study strategy, in-depth face-to-face interviews, and participant observation will be used to solicit responses from participants included in the study. The study focused solely on sector choices of women entrepreneurs and the barriers to enter male dominated sectors in Harare and Bandung. More so, the sample is quite small which may not represent the experiences of the whole population. Originality/value – As a first of its kind as a comparative study in the Harare and Bandung context, little is known in extant literature until now with regard to sector preferences in women entrepreneurship in both these cities. This study therefore seeks to bridge this gap.

Keywords
women entrepreneur, Indonesia, Zimbabwe, qualitative method

Topic
Entrepreneurship

Link: https://ifory.id/abstract/2VrGvQkxHgfW

Corresponding Author
BINTI MOHD ALI SALSIAH

Institutions
Multimedia University
Faculty of Management
Jalan Multimedia
63100 Cyberjaya
Selangor, Malaysia

Abstract
One of the government initiatives to facilitate desired growth in economy is to continue providing tax incentives. Tax incentives will reduce overall tax burden and the excess of the cash flows can be used to finance the growth in capital expenditures and many other investments. Unfortunately, determining a tax incentive-s costs and benefits is inherently difficult because it is unknown if the firm would make the investment without the incentives. Review of recent studies has made progress measuring the tax incentive effectiveness, however, the findings are inconclusive. This suggests that another explanation is needed for the firm-s decisions to take up the tax incentive, i.e., the willingness to ay higher tax instead. This study aims to fill the gap by investigating if the utilization of tax incentive by SMEs within manufacturing sector reduces the overall tax burden measured by effective tax rate (ETR) and significantly reduces earnings management exercise related to tax avoidance practices. Further, this study will also investigate factors associated to the firms with higher tax paid (ETR) to understand is these firms refuse to take up the tax incentives available and willing to pay higher tax instead

Keywords
Effective Tax Rate; SMEs; Manufacturing: Reporting Quality

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/FWZKmeyGN6wc

Corresponding Author
Azeria Ra Bionda

Institutions
a) Master of Management, Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia
*azeriarabionda[at]gmail.com
b) Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia

Abstract
This research aimed to describe an overview of the analysis effect of financial performance on Cumulative Abnormal Returns of companies listed on the Indonesia Stock Exchange before and after merger and acquisitions for the period of 2014-2018 based on calculation of financial ratios and Cumulative Abnormal Returns using the event study approach. The purpose of this research is providing the result of merger and acquisitions that there are synergies and values added for the Cumulative Abnormal Returns of the companies based on the calculation of financial ratio to the companies- financial ratios that have an effect on the Cumulative Abnormal Returns of the companies listed on the Indonesia Stock Exchange before and after merger and acquisitions for the period of 2014-2018 using the event study approach. To calculate the financial performance of the companies, this research using the parameters of financial ratios such as; Return on Equity (ROE) and Tobin-s Q Ratio. In addition to these financial ratios, this research also calculates Cumulative Abnormal Returns. The results of this research indicate that there is a significant difference in Return on Equity (ROE) before and after merger and acquisitions while Tobin-s Q Ratio and Cumulative Abnormal Returns have no significant differences before and after merger and acquisitions. Return on Equity (ROE) and Tobin-s Q Ratio do not have a statistically significant effect on Cumulative Abnormal Returns before and after merger and acquisitions.

Keywords
Merger; Acquisitions; Return on Equity (ROE); Tobin-s Q Ratio; Cumulative Abnormal Returns; Event Study

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/txzVd3J8RA9W

Corresponding Author
syafrizal syafrizal

Institutions
1) Faculty of Economics and Business, Universitas Andalas
2) Faculty of Economics and Business, Universitas Andalas

Abstract
The rapid growth of internet user has facilitated the growth of e-commerce business in Indonesia. This study aims to analyze the effect of electronic service quality and perceived justice of electronic service recovery toward satisfaction and loyalty of online shopper. Survey questionnaire was conducted to 338 of online shopper in Padang, Indonesia. Research instrument of this study were adapted from previous studies. Research data was analyzed by using structural equation modelling with the help of Smart PLS 3.0 software. The results of this study show that electronic service quality has positive significant effect on satisfaction and loyalty. In addition, perceived justice of electronic service recovery also has positive significant influence on satisfaction and loyalty.

Keywords
e-servqual; e-service recovery; satisfaction and loyalty

Topic
Digital Marketing

Link: https://ifory.id/abstract/JNEWKUHup7Lt

Corresponding Author
Mediany Kriseka Putri

Institutions
Telkom University

Abstract
The Social Rehabilitation Organization For People With Disability Sensory Blind (BRSPDSN) is a rehabilitation and social protection center for people with disabilities - in this case blind people-under the auspices of the Director General of Social Rehabilitation of the Indonesian Ministry of Social Affairs. In this institution there are some clients who want to become entrepreneurs but it is very difficult for them to compete with normal people, due to our clients have not had entrepreneurial quality to build a business and motivation for entrepreneurship yet. The purpose of this study is to determine the impact of entrepreneurial characteristics on entrepreneurship motivation of the BRSPDSN Wyata Guna Bandung clients. This study uses causality method by quantitative approach and analyzed by multiple linear regression. The sampling technique in this study is non-probability-quota sampling with 100 clients as our respondents with minimum age (17 years and above). The software for data processing is using SPSS software. The results out that only self-esteem and resukt orientation influences entrepreneurship motivation partially, while simultaneously all independent variables influence entrepreneurship motivation. This research suggest improving of client-s self-esteem through increasing meeting intensity in order to checking business plan result previously and future visions.

Keywords
Entrepreneurial Traits, Motivation for Entrepreneurship, Multiple Linear Regression Test

Topic
Entrepreneurship

Link: https://ifory.id/abstract/rtafU98LdW6B

Corresponding Author
Avenira -

Institutions
a) Master of Management, Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia
*avenira.kasim[at]gmail.com
b) Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia

Abstract
Top management accountable in making financing decision in a company are the Chief Executive Officer (CEO) and Chief Financial Officer (CFO) as they have full responsibility to manage the company so that it can realize its vision and mission. The aims of this study are (1) to investigate whether top management-s gender influences financing decision of a company, (2) to investigate whether top management-s age influences financing decision of a company, (3) to investigate whether top management-s reputation influences the financing decision of a company. The population in this study are all non-financial companies listed in Indonesia Stock Exchange (IDX) in 2017. The selection of samples uses purposive sampling method. Data collection in this study are obtained from secondary data. A regression model is performed to test hypothesis 1,2 and 3. Upon analyzing, researcher obtains the following results. Hypothesis 1 (effect of top management-s gender) shows there is no significant impact from top management-s gender on financing decision making. Likewise, hypothesis 2 (effect of top management-s age) shows there is no significant impact on decision making. However, on the third hypothesis (effect of top management-s reputation) shows there is a negative correlation between Chief Executive Officer (CEO)-s reputation and his/her financing decision, while Chief Financial Officer (CFO)-s reputation has little to no impact to the decision.

Keywords
financing decision, Chief Executive Officer, Chief Financial Officer, top management, gender, age, reputation

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/vwmerCFVfMAb

Corresponding Author
Astri Wulandari

Institutions
a) School of Applied Science Telkom University
Jl. Telekomunikasi Terusan Buah Batu Bandung, West Java, Indonesia 40257, astri.wulandari[at]tass.telkomuniversity.ac.id
b) School of Applied Science Telkom University
Jl. Telekomunikasi Terusan Buah Batu Bandung, West Java, Indonesia 40257, bethani[at]tass.telkomuniversity.ac.id
c) School of Applied Science Telkom University
Jl. Telekomunikasi Terusan Buah Batu Bandung, West Java, Indonesia 40257, fanni.husnul[at]tass.telkomuniversity.ac.id
d) School of Applied Science Telkom University
Jl. Telekomunikasi Terusan Buah Batu Bandung, West Java, Indonesia 40257, wiedyasastika[at]tass.telkomuniversity.ac.id

Abstract
Marketing activities on the company are very important, where the success or failure in the product sales process is the end result of marketing activities. The more successful of the marketing process will have an impact on the sale of products that can generate profits from a company. Internal marketing is a line that connects employees and banks. External Marketing is a line that connects customers and banks. Furthermore, Interactive Marketing is a line that connects employees and customers. This research is looking for the influence of internal marketing (IM), external marketing (EM), and interactive marketing (ITM) on the decision to become customers of Bank Mandiri in Bandung. The research method used quantitative method with Multiple Linear Regression. The sampling method used was purposive sampling with the number of respondents as many as 400 people. From the results of the study, the contribution of internal marketing (X1), external marketing (X2), and interactive marketing (X3) variables have a simultaneous influence on the customer decision variable (Y) of 0.894 or 89.4%. The remaining 10.6% is influenced by other factors that cannot be explained in this study.

Keywords
Internal Marketing (IM), External Marketing (EM), Interactive Marketing (ITM), Purchasing Decision

Topic
Digital Marketing

Link: https://ifory.id/abstract/uvjYqDUErkeA

Corresponding Author
Alfian Sulthoni

Institutions
Faculty Economy & Business, University of Indonesia

*alfiansulthoni[at]gmail.com

Abstract
The global market at 21st century demands highly skilled workforce that is creative, innovative, intellectually active, and capable of critical thinking. This study examines the factors impacting employee creative and innovative undertakings at work in power generation company with a focus on transformational leadership and organizational culture. This study uses survey design, simple regression analyses to test three hypotheses. Data were collected from 158 (143 males and 15 females) randomly selected staff at PT PJB UP Muara Tawar aged between 25 and 50 years. Employees finished questionnaires consisting of validated scales of employee creativity and innovation, transformational leadership and organizational culture in the research. It was concluded that transformational leadership (t:7,768 dan sig: 0,00) and appropriate organizational culture (t:3,635 dan sig:0,00) are important factors to improve and maintain employee creativity and innovation in the PT PJB UP Muara Tawar. It was recommended that companies can facilitate employee creativity and innovation by promoting and investing in transformational leadership training of their managerial staff as well as continuously promoting creative and innovative organizational culture.

Keywords
Employee creativity, innovation, transformational leadership and organisational culture

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/bxJQpK4TXjCZ

Corresponding Author
Risca Septi Widyawati

Institutions
School of Economics and Business, Telkom University, Bandung, Indonesia

Abstract
Tourism is one of the fastest growing sectors in the world and becomes one of the leading sectors in Indonesia. The Indonesia government has determined four super priority tourist destinations in order to achieve 20 million foreign tourists and 275 million domestic tourists in 2019. Moreover, a social network provides essential information that raises a new paradigm known as smart tourism. The geotag-social network can identify tourists- preferences, perceptions, and also attitudes from their posts on Instagram toward tourist destinations. Instagram becomes a popular media social to share photos equipped with information about geotags. It is important for the government and tourism management to understand tourists- preferences and interests to make a better strategy and policy. This study provides an alternative method to evaluate the super-priority tourist destinations using data mining shared on social media. This study identifies the pattern of tourist visits using time window strategy to separating between tourists and locals and tourists- interest related to their expressions of the tourist destinations using topic modeling which generally describes the scenery, favorite spots, and events. The result of this paper can be used as a consideration in determining favorite tourist destinations based on tourists- preferences on social media.

Keywords
Data Analytics; Topic Modeling; Instagram Geotag; Super Priority Tourism Destinations

Topic
Digital Technology For Business

Link: https://ifory.id/abstract/LzBWqAJgPnx7

Corresponding Author
Tigor Samuel Sibarani

Institutions
University of Indonesia

Abstract
MSMEs are economic drivers that are currently needed to support Indonesias growth. The increasing number of MSMEs has little impact on economic growth (GDP) because MSMEs cannot develop their own businesses to a larger scale, lack marketing creativity, and competitive advantage to be able to compete with products from abroad. This study aims to encourage sales and competitiveness through the implementation of marketing event promotion activities for Panglima Kopi MSMEs.

Keywords
coffee industry, promotion, Event Marketing, Micro Small and Medium Enterprises (MSMEs)

Topic
Entrepreneurship

Link: https://ifory.id/abstract/FgZYDEA2fRmk

Corresponding Author
Elfindah Princes

Institutions
School of Graduate Program
Bina Nusantara University, Jakarta - Indonesia

Abstract
Education is a must, as one of the best promising industries and will still be one for many years to come. With the increasingly remarkable numbers of new schools raising their flags, the number of schools shutting down are also high. The school innovations hold a very important role in this phenomena. Wrong school innovations will lead to dissatisfactions and in longer term, the students will leave school. Good school innovations are needed to keep progressing in number and profit. A mixed method study is done to analyse this fact by patterning the consumer behaviour (parents) from different income levels. The research is done in Jakarta, where the social gap is high to make the research more accountable. There are two hypotheses, first the income level does not directly influence the consumer satisfaction, second the educational background directly influences the consumer satisfaction to school innovation. With the assumption that product knowledge using thorough explanation are given to address this issue and fill in the gap of knowledge to the parents with lower level of knowledge. By doing this, school innovations will be translated to the parents better and prevent any dissatisfactions, increasing satisfaction and school performance.

Keywords
school innovations, consumer behaviours, satisfaction, school performance

Topic
Digital and Innovative Education

Link: https://ifory.id/abstract/FR8bcYynzxjf

Corresponding Author
Peri Kusdinar

Institutions
Telkom University

Abstract
This study aims to analyze the influence of E-Service Quality and the Dimensions on Buying Experience data package prepaid customers in Telkomsel via MyTelkomsel. Service Quality needs to be analyzed due to very high purchase transactions, but there are many failed purchase transactions seen in Telkomsels Big-Data. E-Service Quality Dimensions namely E-S-Qual (Efficiency, Fulfillment, System availability, Privacy) and E-RecSQUAL (Responsiveness, Compensation, Contact). This research is quantitative research with descriptive analysis techniques, where data collection method uses secondary data sourced from Telkomsels Big-Data. Using Purposive sampling technique, there are 164,394 samples. This study uses Logistic Regression analysis method using SPSS to perform testing. Based -on Overall Fit Test, chi-square value is 100242.134 with df 7 and Sig.model is 0,000( <0.05), it can be concluded that simultaneously E-Service Quality has significant effect on Buying Experience. Partial testing shows that each dimension of E-Service Quality has significant effect on Buying Experience, where significance of each variable is <0.05. Determination Coefficient is 0.941, which means variability of dependent variable that can be explained by independent variable is 94.1%. Regression with Hosmer and Lemeshow, Chi-square is 6.342 with Significance(p):0.096. because significance value >0.05, can be concluded model can predict the value of its observations.

Keywords
E-Service Quality, E-S-Qual, E-RecSQUAL,Buying Experience, Customer Experience, Customer Satisfaction, Data Services and Logistic Regression

Topic
Digital Marketing

Link: https://ifory.id/abstract/y9Gbdcrafwxj

Corresponding Author
Aditia Wirayudha

Institutions
Telkom University

Abstract
Employee performance is one of the important factors to achieve company goals. One of the factors to improve the employee performances is giving motivation for work. As for the form of motivational work among them is the fulfillment of the needs. One of the theories the fulfillment of needs is hygiene factors and motivator factors. The purpose of this research is to know in a descriptive the value of hygiene factors, motivator factors, and employee performances. In addition, the other goal is to figure out the significance of the influence of hygiene factors and motivators factors on employee performance of Group II in Indusrti Hilir Teh PT Perkebunan Nusantara VIII partially and also simultaneous. This type of research based on the data is quantitative research, while based on the type of research is descriptive research, and based on the goal is verification research. The respondents in this study amounted to 30 employees. Type of data collection using the questionnaire and conduct studies of the literature. The sampling that it use is census and hypothesis testing that using descriptive analysis processed through Microsoft Excel and multiple regression analysis processed through SPSS software. Based on the results of the data, it was knew that the variable of hygiene factors in this company was good rated by employees with score 72,62%. The variable of motivator factors in this company was good rated by employees with 72,68% of value. The variable performance was good rated by employees with 77,57% of value. Meanwhile the result of the influence test it showed that there is no significant effect between hygiene factors and motivator factors on performance of employees with the t-score for -0.432 which is smaller than t-table for 2,052. At the same time, based on influence tests of motivator factors to employee performance have significant influence with t-score 2,238 which is wider than t-table for 2,052. It also found that simultaneous influence tests compared hygiene factors and motivator factors to performance have unsignificant influence with F score 2,931. It is fewer than F table for 3,35. Based on the results of the study, authors suggest to improve employee performance in this company. It is better to this company to add facilities such as canteen and prayer room so the employee could manage their time efficiently. Furthermore, this company should keep their quality of the program they made related to motivator factors.

Keywords
Hygiene Factors, Motivator Factors, Employee Performance

Topic
Digital Talent Management

Link: https://ifory.id/abstract/3CVb4yTLv8Xu

Corresponding Author
Fenny Hapsari J. Ariyani

Institutions
Universities Indonesia

Abstract
This study tested the difference of reputation and number of underwriters influence on the performance of post-IPO stocks in the long term. The study was conducted on 101 sample data consisting of 53 IPO samples supported by Single Underwriters and 48 IPO samples supported by Underwriter Syndication. The difference test in average post-IPO stock returns was carried out on IPOs that supported by high and low reputation underwriters and IPOs that supported by Single and Syndicated Underwriters. The results showed that there were significant differences in IPOs supported by high and low reputations

Keywords
Underwriter reputation, stock performance, IPO

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/6yEPR4n9xbtq

Corresponding Author
Irma Nilasari

Institutions
1. Faculty of Business & Management
Universitas Widyatama
Bandung, Indonesia
Email: Irma.nilasari[at]widyatama.ac.id

2. Faculty of Economic & Business,
Telkom University
Bandung, Indonesia
Email: dodietricahyono[at]telkomuniversity.ac.id

Abstract
In 2017, the global recorded music industry players- revenue from music streaming exceeded the revenue from other music formats. It because of music streaming offers many benefits for listeners, which includes high quality, no need for stored devices, a huge array of music library, easy to listen, etc. In order to gain exponential growth of music listeners, the music streaming providers rely on viral marketing. Unfortunately, the elements that construct viral marketing effect are different between one country to another. This research focuses on the Indonesian key elements of viral marketing that drive the music streaming user-s attitudes of JOOX Indonesia (as a popular music streaming provider in Indonesia). The present study collected data by using google form and finally used 455 valid response as respondents. The data then analyzed by using factor analysis and multiple regression. The factor analysis discovered that from four dimensions of viral marketing (i.e. informativeness, entertainment, irritation, and source credibility) only two dimensions emerged, which are: entertainment, and trusted information (as a merged factor from irritation and source credibility). The multiple regression analysis found that both variables were significantly affect the JOOX Indonesia user-s attitudes. Some recommendations for JOOX Indonesia and also for future researches are being discussed in the last section.

Keywords
Viral marketing, User-s attitude, Music streaming, JOOX-Indonesia

Topic
Digital Marketing

Link: https://ifory.id/abstract/Uph4JqgEKM36

Corresponding Author
MIRA BUDI OCTAVIANI

Institutions
Master of Management, University of Indonesia

Abstract
Infrastructure is the absolute necessity of a country where the increase in infrastructure is proportional to the increase in GDP of a country. With the limitation of the availability of funds from a country, there is a funding scheme involving private parties, such as Public-Private Partnership. The purpose of this study is to determine the PPP project determinants in performance, especially for the debt providers on PPP financing schemes as reference in the selection of debt providers is involved so that it becomes one of the preventive efforts of PPP project failures . This paper is based on processed data, namely the Project Database of Private Participation in Infrastructure (PPI) World Bank Project Database from 1990 to 2017 that there were 364 projects of 7050 projects which were canceled or distressed from 128 countries. In the process of empirical analysis that uses several independent variables namely GDP growth, total national debt, average growth rate of GDP, government support, tax, inflation rate, multilateral / bilateral support, type of contract, and total asset debt provider. In this study also do estimating the influence of debt providers involved in funding PPP projects which is the most financing structure use debt instead equity. As for data processing, this empirical study uses probit regression on the types of projects that cancelled / distressed. The results show that the type of project influences the failure of the PPP project, that the greenfield type tends to give success to the PPP project. In addition, a significant relationship is also indicated by the independent variable involvement of the debt provider. From the results of this project, the smaller the failure of the project.

Keywords
Public-Private Partnership, distressed, cancelled, World Bank Database, infrastructure, probit regression, debt provider

Topic
Financial Technology

Link: https://ifory.id/abstract/46QtfHhgDFkB

Corresponding Author
CHOY YOKE CHONG

Institutions
Faculty of Management, Multimedia University,
Persiaran Multimedia, 63100, Cyberjaya, Malaysia.

Abstract
Institutions are the fundamental determinant of economic growth. A good institutional quality ensures the efficiency of resources allocation on productive economic activities to improve economic performance of the country. Therefore, pertaining a high quality of institution among the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) countries will be important to ensure continuing economic performance after the withdrawal of United States from the original TPP agreement. As a result, this study aims to investigate how institutional quality can improve the economic performance of member countries within CPTPP. An unbalanced panel data for 10 members of CPTPP (without Brunei) covering from year 2002 to 2015 were analyzed using the Least Square Dummy Variable (LSDV) model. An inversed-U shape of relationship was detected implying a nonlinear impact of institutional quality on the economic performance among CPTPP countries. The economic performance improved with better quality of institutions. However, a reverse relationship was found after the threshold level of institutional quality at the level of 0.638. This finding implying that countries with institutional quality of above 0.638 will hinder economic performance. Therefore, CPTPP countries can enjoy improvement in economic performance if their institutional quality to be kept below the threshold value.

Keywords
CTPPP, debt, economic performance, institutional quality, nonlinear

Topic
Strategic Management & Ecosystem Business

Link: https://ifory.id/abstract/LVCwxuPkMvh4

Corresponding Author
Rangga Firmansyah

Institutions
(a) Interior Design Study Program, School of Creative Industries, Telkom University, Indonesia
(b) Research Fellow, Halal Product Research Institute, Universiti Putra Malaysia (UPM), Malaysia
(c) Faculty of Design and Architecture, Universiti Putra Malaysia (UPM), Malaysia
(d)Faculty of Design and Architecture, Universiti Putra Malaysia (UPM), Malaysia
(e) Department of Architecture, Universitas Islam Indonesia, Yogyakarta, Indonesia

Abstract
The aspect of ergonomic in interior design is one of the centers of attention a designer has to take into account since it greatly relates to human-s health as the end user in the long term. Putting aside ergonomic factors will result in health problems, a few to mention, such as musculoskeletal pain, spine pain (due to backbone abnormal), and others. There are a number of researches discussing this topic; yet, mostly their scope is restricted to residential context, occupational, and other commercial facilities. In the Indonesian context, traditionally Islamic educational institutions, such as pesantren, has been excluded in many studies. Therefore, the present study aims to observe the existing interior design based on ergonomic perspective in pesantren (Islamic educational institution) context in relation to the factors of students health. The study used a qualitative research method through a literature review of previous researches related to this topic. In addition, secondary data of interview results with some experts in this field is taken into consideration to get the design parameter for the learning space area in Islamic boarding school based on the ergonomic aspect.

Keywords
Islamic boarding school, ergonomic, learning space, design parameters

Topic
Digital and Innovative Education

Link: https://ifory.id/abstract/edajQWyk34hg

Corresponding Author
Ratna L Nugroho

Institutions
Telkom University

Abstract
Entrepreneurship is one of the fields where the concept of career has found application as an analytical tool. However, considerable gaps exist in operationalization and measurement of this concept. Using the qualitative in-depth interview which collected from entrepreneurship training participants, this paper addresses some of these gaps. Meanwhile, the need for this research stemmed from the fact that in today-s new world of young generation, the new world of work, organizations and markets are demanding new skill sets, innovative approaches to delivery and increasingly higher performance levels. The impacts of technology and globalization and the demand for entrepreneurs have brought a new era in economies and organizations, resulting in new career realities. The purpose and direction of the young entrepreneurs- career is no longer confined to a single employer boundary. Therein lies the opportunity for young generation to understand, manage and leverage this dynamic context for entrepreneurship career progression and growth through the accumulation and implementation of relevant and valued career capital. This research investigated the three components of entrepreneurial careers for the young generation, particularly in Bandung City, Indonesia. This research examine how entrepreneurial careers are shaped by three components, namely motivations (knowing-why), knowledge (knowing-how), and relationships (knowing-whom). The findings of this research could provide an insightful platform for further research by exploring the presence of those three components in another city around Indonesia.

Keywords
entrepreneurial careers, young generation, qualitative method, entrepreneurship training

Topic
Entrepreneurship

Link: https://ifory.id/abstract/MzCqnEgY2Vxj

Corresponding Author
Fajar Ramdhani Kurnia

Institutions
a) Master of Management Dept.,Telkom University, Gegerkalong Hilir Street, Bandung, Indonesia
*fajar.ramdhani.kurnia[at]gmail.com

Abstract
This study aims to estimate the fair value of stock prices from technology-based companies listed on NASDAQ, Apple Inc. (AAPL), Alphabet Inc. (GOOG) and Microsoft Corp. (MSFT). This study uses the Discounted Cash Flow (DCF) method with the Free Cash Flow to Firm (FCFF) approach and the Relative Valuation (RV) method with the Price to Book Value (PBV) and Price to Earning Ratio (PER) approaches. Both methods are applied in three scenarios, namely: pessimistic, moderate and optimistic. The results of these two methods are used to provide advice to the relevant parties. Using the DCF - FCFF method, in a pessimistic scenario, investors are advised to sell or not buy all the shares because the stock is all overvalued. In the moderate scenario, investors are advised to sell or not buy MSFT shares because it is overvalued and buy shares of AAPL and GOOG because they are undervalued. In the optimistic scenario, investors are advised to buy the shares of the three companies because all shares are in an undervalued condition. Using the RV - PER approach, in all scenarios, investors are advised to buy AAPL shares. While the RV - PBV approach, specifically in the pessimistic scenario, is recommended to buy MSFT shares and buy GOOG shares in two other scenarios. Future studies are expected to minimize the calculation variables that are subjective in nature and do calculations with other methods to produce more accurate information for investors and companies.

Keywords
Valuation; Discounted Cash Flow; Intrinsic Value; Relative Valuation; Technology-based Company

Topic
Financial Technology

Link: https://ifory.id/abstract/zEnCwTP3M7du

Corresponding Author
Riko Hendrawan

Institutions
Telkom University

Abstract
SRI-KEHATI stock index from the years of 2013-2018 experience a fluctuating phenomenon with an increasing tendency. As well as monthly return that experiencing volatile conditions, with the lowest range of return occurring in April 2015 at -9.931% and the highest return occurring in February 2013 at 8.956%. This shows the relationship between return and risk, where risk is a form of deviation from return. A portfolio is a process of minimizing risk without reducing expected returns. In this study, portfolio formation will be formed based on Tobin-s Q and Price to Book Value ratios which will be grouped into 3 categories, namely low, medium and high during 2013-2018. Formation of portfolios will also be formed based on the annual active strategy, the semester active strategy and the passive strategy. After the portfolio is formed, evaluation of portfolio performance will be conducted using the Sharpe Index, Treynor Index, and Jensen Index. The results showed that portfolios formed by the low Tobin-s Q ratio were consistently able to provide the highest return (above average and market / IHSG) even though also consistently provide the highest risk, on the annual active strategy, the semester active strategy and the passive strategy. This shows the harmony between the results of research with the theory of high-risk high return. Overall, the annual active strategy has the largest accumulated rate of return, followed by the semester active strategy and then the passive strategy. The results of portfolio performance evaluations show that portfolios formed by low Tobin-s Q ratio and high Price to Book Value consistently have the highest value (above the market /IHSG), on the Sharpe Index, Treynor Index, and Jensen Index.

Keywords
Stock Portofolio, Tobin-s Q, Price to Book Value

Topic
Financial Technology

Link: https://ifory.id/abstract/PMEufY4Jh7qg

Corresponding Author
Eko Wahyudi

Institutions
a) Master of Management, Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia
*ekowahyudi2002i[at]gmail.com
b) Faculty of Economics and Business, Universitas Indonesia
Kampus UI Salemba, Jakarta, Indonesia

Abstract
This study aims to develop a perceivable financial statement format at SME Four Coffee. The research conducted by using a qualitative method, while data analysis technique used descriptive analysis with a qualitative approach. Data collection techniques used are in-depth interviews, observation, and documentation. The researcher also describes, interpret and explain the situation at hand, together with intervening in order to make improvements to the research object. Based on the analysis, SME Four Coffee yet has the desirable correct financial statement format as internal decision-making materials and reference data for prospective creditors or investors. The results of this research are the utilization of web-based accounting software by doing optimization and customization of the output produced to obtain a desirable financial statement presentation. The use of accounting software does not always provide an output that is in accordance with the expectation of the SME so that further customization is required over the output. On the other hand, by accepting technological advances such as accounting software technology is also very useful for SME to speed up the process and reduce human error in order to build a perceivable financial statement.

Keywords
Financial statement, Web-based application, Accounting software, SMEs, Four Coffee

Topic
Digital Technology For Business

Link: https://ifory.id/abstract/vJWrVDATKXEf

Corresponding Author
Riko Hendrawan

Institutions
Telkom University

Abstract
This study is aimed to estimate the fair value of textile and garment companies share.. The companies being studied are listed in Indonesia Stock Exchange, using data from 2013 – 2017 as the basis for 2018-2022 projection. The methodology for company valuation was The Dividend Discounted Model and Relative Valuation. Relative Valuation was applied using the combination of Price to Earnings Ratio and Price to Book Value. Using these methods, three scenarios were developed, namely; pessimistic to represent industry average conditions, moderate to represent most likely conditions and lastly, optimistic scenario to represent the conditions above industrial growth. The results showed that using the Dividend Discounted Model method, the fair value of RICY, TRIS, PBRX and SRIL shares in the pessimistic, moderate and optimistic scenario was overvalued. Except RICY, in the optimistic scenario was undervalued. The RV PER-PBV method shows that the value of RICY-TRIS-PBRX-SRIL is still within the IDX market range Q1-2018. The recommendation for investors is to buy shares under undervalued conditions and sell them in overvalued conditions. The result can be further validated by taking examples from different industry sectors.

Keywords
Fair Value, Textile and Garment Companies, Valuation

Topic
Financial Technology

Link: https://ifory.id/abstract/VgmWU6RHYj7Z

Corresponding Author
Cut Irna Setiawati

Institutions
(a*), (b) Business Administration, Telkom University
Jl. Telekomunikasi N0.1, Bandung, Indonesia
*irnacut[at]telkomuniversity.ac.id

Abstract
This study aims to analyze the family business named Ponyo Restaurant (PR) from the Three Dimensions of Family Business Development, which covers the dimensions of family, ownership, and business so that current PR sustainability is known. This research is descriptive qualitative. Data was collected by in-depth interviews with 6 PR key persons and then the data was analyzed to map stakeholders then formulate a business strategy. The research results obtained are first, based on Family-Ownership: Ownership is under the control of one person while the others are passive owner. In terms of Business-Family Members: The next generation is undergoing a training period and the owner has a good and increasing performance. In terms of Share Ownership: (1) shareholders come from family members who directly manage the company, (2) owners and future generations manage the business together, and (3) the owners are ready to hand over the reins of leadership. In terms of Business-Ownership of Shares: (1) the organizational structure between owners and managers as the center, (2) shareholders develop PR systems, and (3) run organizational routines properly. From the side of the Employees: there are employees who work due to family relationships. Lastly in terms of Employee-Ownership: employees have ownership or share rights due to their partners or grandchildren directly from the owner.

Keywords
Family Business, Ownership, Restaurant Enterprise

Topic
Entrepreneurship

Link: https://ifory.id/abstract/d6b9mrLYgfj8

Corresponding Author
Rio Aurachman

Institutions
a) Telkom University
Jalan Telekomunikasi Nomor 1, Bandung 40257
*rioaurachman[at]telkomuniversity.ac.id

Abstract
Some prominent researches show that students are unable to solve a real problem because of lack of understanding about physical world concept. This research try to contribute in designing Inquiry Based Learning on logistic engineering, industrial engineering, and computer programming learning activities, especially for transportation problem. It was found that some improvement could be done to develop Inquiry based learning such as by assignments learning method, by accommodating complicated concepts, and by explaining the connection of the current course with the previous course.

Keywords
Engineering Teaching, Inquiry Based Learning, 5E

Topic
Digital and Innovative Education

Link: https://ifory.id/abstract/b8VhK7fxZT9A

Corresponding Author
Sharmini Gopinathan

Institutions
Multimedia University

Abstract
A shift in music-consumption formats have caused on-demand music streaming to increase in popularity. Currently, millions of people from all over the world consider it to be the most convenient way to listen to music. This study aims to investigate the role of information quality, system quality, service quality and trustability on user satisfaction among Malaysian music streamers. Utilising the data attained from 250 respondents, the relationships in the model were examined and analysed using Partial Least Squares (PLS). The results of this study revealed that information quality, system quality, service quality and trustability have significant positive effects on user satisfaction. This study may be considered as one of the first to examine user satisfaction in the context of music streaming. Hence, more models could be developed in the future to investigate user satisfaction towards music streaming platforms.

Keywords
Music Streaming; Information Systems; User Satisfaction

Topic
Design, Innovation, And Brand Management

Link: https://ifory.id/abstract/ghkDcWeJpvYG

Corresponding Author
Riko Hendrawan

Institutions
Telkom University

Abstract
The volatility phenomenon of stock returns shows the return and risk faced by investors in investment activities. One method that can be used by investors to get maximum profit while compressing the risk into the minimum level is by diversifying its investments through portfolios. This study aims to determine the simulation results ofoptimal stock portfolio establishment with active and passive strategy using price to book value and price earning to growth ratio approach and the results of the Sharpe, Treynor, and Jensen performance evaluations on the established portfolio. This research appertains in quantitative research. The object of the research was the IDX30 Index and 17 of 30 companies which consistently classified into the IDX30 Index for the 2013-2018 period were selected as the research sample. The results showed that the High PBV gave the highest level of rate of return with a relatively low rate of risk on the implementation of passive strategy and annual-s active strategy, whereas, in the semester active strategy, Low PEG gave the highest rate of return with the lowest risk. Overall the semesters active strategy has the highest accumulated rate of return with the lowest risk.This result match with the purpose of optimal portfolio establishment. Moreover, the results of the performance evaluation show that in the semesters active strategy, Low PEG gives the best score based on the results of the performance evaluation of Sharpe, Treynor and Jensen index.

Keywords
Optimum Portfolio, PBV, PEG

Topic
Financial Technology

Link: https://ifory.id/abstract/XQ8T4bqHztry