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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  [28 journals]
  • Can Backward-looking and Forward-looking Information Debias Prospect
           Effect in Earnings Announcement'

    • Authors: Jogianto Hartono, Sri Wahyuni
      Pages: 227 - 246
      Abstract: This study examines the important issue of whether additional pieces of information about the earnings’ characteristics (their quantitative description and predicted earnings) can debias the prospect effect of the earnings’ announcement. The prospect effect bias can be mitigated by the availability of clear information and an integrated disclosure. Additional information that is included with the previous information will make the investors’ beliefs stronger  and it will debias any psychological effects.This research confirms the prospect effect’s bias that investors react more negatively when evaluating a company’s performance after a negative earnings information disclosure rather than react positively in evaluating the performance for a positive earnings information disclosure. The results also show that when additional pieces of information, such as a quantitative description and predicted earnings are added, they can mitigate the prospect effect’s bias. Additional information of predicted earnings as forward-looking oriented information has a stronger debiasing effect than that of additional information of a quantitative description as backward-looking oriented information.
      PubDate: 2017-12-22
      DOI: 10.22146/gamaijb.26282
      Issue No: Vol. 19, No. 3 (2017)
       
  • Linking Corporate Risk Disclosure Practices with Firm-Specific
           Characteristics in Saudi Arabia

    • Authors: Norsiah Ahmad, Omer Saeed Habtoor, Nor Raihan Mohamad, Mohd Hassan Che Haat
      Pages: 247 - 266
      Abstract: This study explores Corporate Risk Disclosure practices (CRD) in the annual reports of Saudi (non-financial) listed companies and investigates the relationship between the Saudi firm-specific characteristics and the level of such practices. Using content analysis of a sample of 307 company-year observations over the period of 2008-2011, the results indicate that Saudi Arabia provides a moderate level of CRD among the developed and developing countries. However, the content of this CRD is found to be of a low quality, by including non-financial, qualitative, neutral, or non-time-specific information. In addition, the unbalanced panel regression analysis shows a significant positive influence of firm size and audit firm size on the level of CRD. This indicates that Saudi companies which disclose higher risk-related information are those characterised by their larger size, and are audited by the Big 4 audit firms. This study contributes to the risk literature by providing an initial understanding of the CRD practices and their variations in light of the firm-specific characteristics in emerging markets in general and Arab countries in particular..
      PubDate: 2017-12-22
      DOI: 10.22146/gamaijb.26769
      Issue No: Vol. 19, No. 3 (2017)
       
  • The Influence of Financial Literacy, Risk Aversion and Expectations on
           Retirement Planning and Portfolio Allocation in Malaysia

    • Authors: Nurul Shahnaz Mahdzan, Amrul Asraf Mohd-Any, Mun-Kit Chan
      Pages: 267 - 288
      Abstract: The two objectives of this paper are to examine the effect of financial literacy, risk aversion and expectations on retirement planning; and, to investigate the effect of these antecedents on the retirement portfolio allocation. Data was collected via a self-administered questionnaire from a sample of 270 working individuals in Kuala Lumpur, Malaysia. Logistic and ordered probit regressions were employed to analyse the first and second objective, respectively.  The results from the logistic regression indicate that future expectations significantly influence the probability of planning for retirement. Meanwhile, individuals with higher financial literacy and lower risk aversion are more likely to hold risky assets in their retirement portfolios. Subsequently, two-sample t-test and one-way ANOVA tests were conducted to further examine the differences in financial literacy, risk aversion and expectations, across demographic subgroups. The study contributes to the literature by holistically incorporating the behavioural aspects that affect retirement planning and by exploring an uncharted issue of retirement planning—namely, the retirement portfolio allocation.
      PubDate: 2017-12-22
      DOI: 10.22146/gamaijb.24441
      Issue No: Vol. 19, No. 3 (2017)
       
  • Consumer Attitudes Toward Advertisement and Brand, Based on the Number of
           Endorsers and Product Involvement: An Experimental Study

    • Authors: Tanti Handriana, Wahyu Rahman Wisandiko
      Pages: 289 - 306
      Abstract: Utilizing endorsers in the advertising industry to promote products is currently on the rise, and employing celebrities as the endorsers is still the marketers’ favorite method. This study aims to analyze the influence of the number of endorsers and the product’s involvement on the consumers’ attitude towards the advertisement and the brand. The research’s approach used a 2x2 factorial experimental design. A total of 120 undergraduate students, who were further divided into 4 groups, were selected as the respondents of this study. The results show the differences in consumer attitudes towards advertisements and the brand, based on the number of endorsers and the product’s involvement. The study also reveals that if there is low involvement with the product, multiple celebrity endorsements will generate a better consumers’ attitude towards it than a single celebrity endorsement. Multiple celebrity endorsements will also generate a better attitude among the consumers towards the brand than a single celebrity endorsement will produce.
      PubDate: 2017-12-22
      DOI: 10.22146/gamaijb.18338
      Issue No: Vol. 19, No. 3 (2017)
       
  • Comparing Risks and Benefits for Value Enhancement of Online Purchase

    • Authors: Priyanka Sinha, Saumya Singh
      Pages: 307 - 327
      Abstract: In a developing economy, the acceptability of e–retailing is not very new, but the potential of online marketing in market research and analysis is still largely unexplored. This article is an attempt to understand the psyche of Indian online consumers. As consumers have their own preconceived notions toward this growing purchasing environment, it becomes important for e-retailers to understand the consumers’ perceptions and attitudes toward online purchases. This paper integrates the dimensions of the risks and benefits with the Theory of Planned Behavior (TPB) to understand how consumers adopt their online purchase processes. Four hundred and sixty-eight valid responses were analyzed using structural equation modeling on AMOS 21 to identify the relationship between the different factors and the intention to purchase online. The paper concludes that consumers’ purchase intentions are jointly determined by their attitude towards online purchases and the subjective norm. Furthermore, their attitude is determined by the sub-dimensions of perceived benefits (hedonic benefit, convenience benefit, economic benefit and variety) and the sub-dimensions of perceived risk (product risk and financial risk).
      PubDate: 2017-12-22
      DOI: 10.22146/gamaijb.10512
      Issue No: Vol. 19, No. 3 (2017)
       
 
 
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