Journal Cover Gadjah Mada International Journal of Business
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  This is an Open Access Journal Open Access journal
   ISSN (Print) 1411-1128 - ISSN (Online) 2338-7238
   Published by Universitas Gadjah Mada Homepage  [27 journals]
  • Contextual-Based Knowledge Creation for Agroindustrial Innovation

    • Authors: Elisa Anggraeni, Machfud Machfud, Mohamad Syamsul Maarif, Hartrisari Harjomidjojo
      Pages: 97 - 122
      Abstract: This paper discusses the knowledge creation process in one department, in a higher educational context, and the possible actions to take to improve the efficiency and effectiveness of the knowledge creation system in it. We conducted a case study at one department of a university that strives to improve its innovations, in terms of their quantity and quality.We used a soft system methodology to investigate the knowledge creation system in the chosen department. From the study, we conclude that the department can be considered as a learning organization, within which its staff continually create, acquire and transfer knowledge. This department has a learning environment which is conducive, concrete learning processes, and leadership that reinforces learning. In the context of producing agroindustry innovations, the knowledge creation system in this department is considered to be less effective since it frequently happens more at individual or small group levels. To improve its effectiveness, the management may facilitate the institutionalization of knowledge creation processes at every phase of the interactions between tacit and explicit knowledge.
      PubDate: 2017-08-23
      DOI: 10.22146/gamaijb.23287
      Issue No: Vol. 19, No. 2 (2017)
  • Unveiling the Incidence of Interfirm Collaboration: Evidence from Research
           and Development Companies in Malaysia

    • Authors: Zurina Adnan, Johanim Johari, Hazman Shah Abdullah, Jasmine Ahmad
      Pages: 123 - 144
      Abstract: Nowadays, interfirm collaboration has become an increasingly popular strategy among many organizations in various industries, in order to remain competitive. Based on the contingency theory, this paper examines the moderating effect of interfirm collaboration on the relationship between Human Resource Management (HRM) practices and organizational performance. Interfirm collaboration refers to the collaboration strategies undertaken by R&D companies, with other companies in similar or diverse functional areas, including R&D, marketing, or manufacturing, to enhance performance.  Using data from 64 R&D companies, the hierarchical regression analyses showed that only collaboration in R&D and functional collaboration in manufacturing significantly moderated the relationship between HRM practices and organizational performance. Overall, the results provided partial support in the domain of the contingency theory. These results, however, are limited by the small sample size, which might have produced non-significant findings. Therefore, the generalization should be taken cautiously. Future research with a larger sample size is needed to confirm the findings.
      PubDate: 2017-08-23
      DOI: 10.22146/gamaijb.12541
      Issue No: Vol. 19, No. 2 (2017)
  • Female Directors and Firm Performance: Evidence from UK Listed Firms

    • Authors: Pananda Pasaribu
      Pages: 145 - 166
      Abstract: The impact of female directors on firm performance has lacked consistency in the previously conducted empirical studies, which may be due to the endogeneity problem, or certain characteristics (i.e. governance, industry, competition). This study examines the relationship between female directors and firm performance by addressing those problems. This study analyses all non-financial UK listed firms during the period 2004-2012 and employs several econometric models. The regression results indicate that there is little evidence that female directors have a positive and strong relationship with firm performance. But, further analysis reports that the UK’s small listed firms experience a positive significant effect, because small firms do not suffer from the problem of over-monitoring and they have more flexibility in composing their boards of directors.
      PubDate: 2017-08-23
      DOI: 10.22146/gamaijb.15619
      Issue No: Vol. 19, No. 2 (2017)
  • The Volatility–Variability Hypotheses Testing and Hedging Effectiveness
           of Precious Metals for the Indonesian and Malaysian Capital Markets

    • Authors: Robiyanto Robiyanto, Sugeng Wahyudi, Irene Rini Demi Pangestuti
      Pages: 167 - 192
      Abstract: This study evaluates the use of futures contracts for precious metals to hedge against stock market risks and their hedging effectiveness on the Indonesian Stock Exchange (IDX) and the Kuala Lumpur Stock Exchange (KLSE). This study found that gold was the most effective hedging instrument, since it produced the highest hedging effectiveness both on the IDX and the KLSE among the other precious metals. None of the hedged portfolios had a higher Sharpe’s ratio than the unhedged one on the IDX; however, all the hedged portfolios on the KLSE had a higher Sharpe’s ratio than the unhedged ones. Almost all the hedged portfolios could produce a higher Treynor’s ratio than the unhedged portfolios, both on the IDX and the KLSE. In general, this study concluded that studying some precious metals could reduce the investment risk, which was shown through the variance produced by the smaller portfolios, while gold can improve the risk-adjusted performance.
      PubDate: 2017-08-23
      DOI: 10.22146/gamaijb.26260
      Issue No: Vol. 19, No. 2 (2017)
  • Efficiency and Competition in the Malaysian Banking Market: Foreign versus
           Domestic Banks

    • Authors: Rossazana Ab-Rahim
      Pages: 193 - 221
      Abstract: The aim of this paper is to investigate efficiency performance of Malaysian banking market using data envelopment analysis approach in the context of the increasing presence of foreign banks. Specifically, two measures of efficiency are constructed, cost and profit efficiency by utilizing bank-level data of Malaysian commercial banks, over the period 2003 to 2014. The results obtained show the domestic banks are more efficient than the foreign banks counterparts for both measures of efficiency. Next, the Lerner Index approach is employed to measure competition and finally, Granger causality tests are undertaken to answer the question, does competition foster efficiency' The results of causality tests support a positive effect of competition on cost and profit efficiency of Malaysian banks. With regard to the financial liberalization, the findings imply that higher competitive pressure may be offset the market power of individual banks; however, eventually it will results in efficiency gains of Malaysian banks. 
      PubDate: 2017-08-23
      DOI: 10.22146/gamaijb.6106
      Issue No: Vol. 19, No. 2 (2017)
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