Gadjah Mada International Journal of Business
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The effects of listing status on a firm’s lease accounting: Evidence from South Korea
Get PDFThis study examines how the listing status affects a firm’s choice of lease accounting, using 7,023 firm-year observations that record either an operating or a capital lease from 2001 to 2013 in Korea. We find that unlisted firms are more likely to opt for operating leases, and to have a higher ratio of operating leases than listed firms are. These results indicate that unlisted firms tend to prefer operating leases which can be used as a tool to avoid increasing debt levels and to benefit from off-balance sheet financing (or unrecorded liabilities), compared to listed firms. This study contributes to the current accounting literature as it is the first to provide empirical evidence regarding the impact of the listing status on a firm’s lease accounting
Is a Mobile Phone a Disruptive Innovation in the Workplace?
Get PDFExtant literature on technology adoption in the workplace generally analyses a single technology, thereby preventing us from a comprehensive understanding about the use of multiple technologies at work. As the usage of mobile devices becomes ubiquitous, knowing how the use of multiple technologies influence individual and group-related tasks is becoming more critical. Therefore, the objective of this study is to understand how managers perform their duties and functions and what technologies are utilized. This study adopts a qualitative study design by conducting in-depth interviews with eight managers employed in the public sector. We found four categories of convergence of mobile and fixed technologies in the workplace: supplementary, complementary, high-degree of integration, and full integration. The technology convergence is mainly influenced by the nature of the managerial work. Most importantly, mobile device is yet a disruptive innovation in the workplace, although its full integration with the fixed technology can be promoted
Using Real Options for the Evaluation of Venture Projects
Get PDFThis paper considers the peculiarities of the application of the real options method for assessing the economic efficiency of venture investments in innovative projects from the venture fund’s position. The results of the practical use of the author’s approach for the evaluation of venture investments with real options are analyzed. The paper shows the applicability of the real options concept to the valuation of the effectiveness of venture capital investments. The use of the real options method raises the accuracy of the estimation and enhances the instruments of the venture fund in evaluating the economic efficiency of innovative projects
Stock Return Synchronicity and Analysts’ Forecast Properties
Get PDFUsing stock return synchronicity as a measure of a firm’s information environment, our research investigates how the firms’ stock return synchronicity affects analysts’ forecast properties for the accuracy and optimism of the analysts’ annual earnings forecasts. Stock return synchronicity represents the degree to which market and industry information explains firm-level stock return variations. A higher stock return synchronicity indicates the higher quality of a firm’s information environment, because a firm’s stock price reflects more market-level and industry-level information relative to firm-specific information. Our study shows that stock return synchronicity positively affects the forecast properties. Our finding shows that when stock return synchronicity is high, analysts’ annual earnings forecasts are more accurate and less optimistically biased
The Link between HR Attributions and Employees’ Turnover Intentions
Get PDFHuman Resources Management (HRM) is part of the organizational functions that contribute to the effectiveness of a firm’s performance, and brings an organization a competitive advantage through the implementation of its Human Resources (HR) practices. HR practices adopted by management are perceived or attributed subjectively by individual employees, and can in turn affect the employees’ attitudes and behavior (e.g. Job satisfaction and turnover intention). The purpose of this study is to contribute to the process-based approach by investigating the effect of HR attributions on turnover intentions, with job satisfaction playing a mediating role. The analysis is on the individual level, with 454 respondents from various organizations within the Netherlands. The results show that HR attributions can affect the turnover intention, through the presence of job satisfaction. Thus, it can be said that it is important to always consider the employees’ attitudes and behavior when examining their perception of HR practices, and in predicting their intention to leave
The Green Shoe Option’s Effectiveness at Stabilizing the IPO’S Stock Price on the Indonesian Stock Exchange (2000-2013)
Get PDFThe increased of price volatility due to positive initial returns will reduce investor confidence and impact on the overall market. Market stabilization mechanism is needed to control the price volatility. This research is intended to explore the effectiveness of Green-Shoe Option in reducing stock price volatility after IPO. This study is done through GARCH model development intended to identify the volatility of IPO shares price. This research compares the volatility price of company shares that apply Green shoe option at IPO with companies that do not apply it. The result of this research on companies that conduct IPO on 2000-2013 periods showed that the green shoe option stabilization program which was used by the issuers was effective in muffing the stock prices’ volatility. Therefore, according to researchers Green Shoe Option stabilization program can be used to prevent or ease the drop of shares price under Public offering
Accounting and Accountability in Religious Organizations: An Islamic Contemporary Scholars’ Perspective
Get PDFThe purpose of this article is to discuss the views and opinions of contemporary Muslim scholars on organisational accountability in Islam. The paper is based on in-depth semi-structured interviews and a review of the relevant documents. Eighteen interviews with twelve Muslim scholars, two ulamas (mufti), two organisational donors, and two relevant government officers, both in Indonesia and in Malaysia were, respectively, conducted. The Muslim scholars interviewed perceived that accounting and accountability activities are not contradictory to Islamic teachings. The accountability relationship in Islam is viewed as not only fulfilling the legal requirements, but also fulfilling the relationship with God. The findings clearly indicate that a formal accountability mechanism is strongly encouraged in Islam, and financial reporting is viewed as essential in enhancing the accountability of Islamic religious organizations. Therefore, any organization dealing with community funds must demonstrate its financial accountability formally; i.e., through written reports. Thus, public or community trust in the organisation cannot replace the accountability mechanism
Alliance entrepreneurship and entrepreneurial orientation: the mediating effect of knowledge transfer
Get PDFToday’s rapidly changing business environment has impelled companies to cooperate with their competitors gaining more competitive advantages by achieving win-win situation. Thereby, building alliances as one of the cooperative strategies has been adopted by many enterprises, consequently attracting great attention of numerous scholars. Nevertheless, the alliance literature seems to lack studies in the domain of entrepreneurship. Accordingly, this paper aims to extend entrepreneurship into the field of alliances highlighting two phenomenal concepts: alliance entrepreneurship and entrepreneurial orientation. Hence, the relationship between these two constructs together with the mediating role of knowledge transfer between alliance partners are investigated. We used Structural Equation Modeling with Partial Least Squares (PLS-SEM) technique under two sections of measurement model and structural model assessment in order to analyze data. The results gathered from Iran’s automotive industry confirmed the positive significant impact of alliance entrepreneurship on partners’ entrepreneurial orientation and the mediating effect of knowledge transfe
The Role of Emotional and Rational Trust in Explaining Attitudinal and Behavioral Loyalty: An Insight Into SME Brands
Get PDFBrand trust is a powerful asset for Small and Medium size Enterprises (SMEs) to retain good relationships with their loyal customers, to ensure their long term survival. However, SME managers first need to understand the consequences of the two unique emotional and rational components of trust on attitudinal and behavioral loyalty, because both loyalty dimensions have unique consequences for a brand’s performance. Hence, this study aims to answer two research issues: (1) Do brand intentions and brand reliability influence both attitudinal loyalty and behavioral loyalty? (2) Which component of trust explains attitudinal and behavioral loyalty more? Data were obtained from 210 customers through the use of an intercept survey method on successful SME brands in the restaurant industry. The findings revealed that emotional and rational trust influenced both attitudinal and behavioral loyalty. Despite that, customers have a higher tendency to exhibit attitudinal and behavioral loyalty when a brand can be relied upon to deliver on its promises
Issues, Challenges and Problems with Tax Evasion: The Institutional Factors Approach
Get PDFTax evasion, particularly in developing countries is a debatable issue. Evasion is a disease and needs to be minimized so that the black economy or hidden economy can be mitigated. This paper attempts to reveal the determinants of tax evasion from the institutional perspectives. The objective of this study is to identify the determinants of tax evasion a decade after the introduction of a Self-Assessment System (SAS). Three institutional perspectives of the determinants of tax evasion were examined, namely the probability of being detected, the role of the tax authority and the complexity of the tax system. The results suggested that the complexity of the system, and the probability of being detected had a significant impact on tax evasion. The results of this study could possibly contribute to the body of knowledge in lieu of combating tax evasion, as well as being an input to tax administrators and policymakers into which ways the determinants can affect compliance. The findings also provide an indicator for tax administrators of the relative importance of the tax system in assisting with the design of tax education programs, simplifying tax systems and developing a wider understanding of taxpayers’ behavior