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Factors Determining Bank Competitive Strategy:
An Empirical Study on Local Development Banks (LDBS) in Indonesia

  • Page: 169
  • Authors: Ahmad IRFAN, Ina PRIMIANA, Aldrin HERWANY, Erie FEBRIAN
  • Abstract: Many studies have been investigating determinants of the company's competitive strategy. Nevertheless, there have insufficient studies conducted to investigate the determinants of competitive strategy on banking industry, particularly on Local development banks (LDBS). This study is aimed at filling in the literature. This study surveyed top executives of twenty-six local development banks in Indonesia and employed PLS approach to answer the research questions. The result shows that three groups of variables, i.e., innovation management, company resource management, and adoption of technology influence the development of competitive strategy in local development banks.
  • JEL Classification: O16, G21, C83
  • Key words: competitive strategy. LDBS. PLS, innovation management, company resource management

Influence of the Human Resources Practices on the Employees Attachment. Empirical Study within the Companies in the Processing Industry

  • Page: 183
  • Authors: Liviu ILIES, Daniel METZ
  • Abstract: The purpose of this study is to show a series of results obtained during a research whose objective was the elaboration of an analysis and assessment model of human resources management practices in order to identify the factors that determine the performance of the management system for the purpose of perfecting it, within the organizations in the processing industry in Romania. The study aims to show the importance of the influence that the human resources practices have on the employees attachment towards the organizations they are a part of. The research has as base quantitative methods of analysis, therefore, as a tool for gathering data was used the survey based on questionnaire, composed of sets of simple questions, using a measurement scale of the agreement of Likert type, from 1 to 5 (1 = total disagreement - 5 = total agreement). The study is based on questioning a number of 463 employees within 27 companies in the processing industry in Romania. Among the main conclusions obtained, we mention that, the perception of the questioned employees on the human resources practices within the analyzed organizations is relatively good, respectively the attachment of the employees towards the organizations is also relatively good. We have identified that there is a strong and positive association between the human resources practices and the employees attachment, therefore, the organizations questioned need to make efforts in order to improve the human resources practices for consolidating the employees attachment.
  • JEL Classification: M10; M12
  • Key words: employee attachment; human resources practices; motivation; reward

Marketing Performance of Traditional Batik in Yogyakarta Based on Entrepreneurship Orientation and Environment Factors

  • Page: 195
  • Abstract: The purpose of this paper is to analyze the entrepreneurship orientation and environment factors that influence to improve the marketing performance of traditional batik. Through verification method can be the result of causal relationships between variables. The survey was conducted on 124 Batik’s medium small industries in Yogyakarta by using PLS analysis. The study results that entrepreneurship orientations and environment factors can improve the marketing performance of Batik’s medium small industries in Yogyakarta. Environment factors as opportunities and resources used well so that it can directly affect the marketing performance. A prominent entrepreneurship orientation is innovative and proactive. Innovation did only limit to the promotion of while medium small industries are known as a source of innovative products because it has adequate resources and finds the uniqueness than other product.
  • JEL Classification: M3
  • Key words: entrepreneurial orientation, environmental factor, marketing performance

The Corporate Goal Issue in the Post-Transition Economies and its Possible Implications for Financial Management

  • Page: 205
  • Authors: Sasho ARSOV
  • Abstract: After acknowledging the advantages of the shareholder wealth maximization objective, a sample of companies from four post-transition economies (Slovenia, Croatia, Serbia and Macedonia) is analyzed with regards to the extent to which this objective has been accepted by the company managers. The analysis is done as a survey of the data published in their websites and the results show that apart from the progress made in terms of transparency and corporate governance, the value maximization objective is only occasionally recognized as an ultimate corporate goal. Although there are differences among the countries, in general, the company managers seem to have not yet developed the sense of utmost accountability towards their shareholders. This situation is likely to have implications on the decision-making process, especially in the field of financial management, since many of its principles are based on value maximization as ultimate objective and its absence might cast doubt on the soundness of the decisions made under such circumstances. This is especially necessary to have in mind with regards to the capital structure, capital budgeting decisions, dividend policy and the most striking example is the portfolio management decisions made under the assumption of aligned interests between the managers and shareholders, when this is unlikely to be true.
  • JEL Classification: G11, G12, G31, G32
  • Key words: corporate governance, shareholder, stock market, value maximization

Intention to Do Whistleblowing in Government Institutions: An Experimental Study

  • Page: 220
  • Authors: Muhammad IKBAL
  • Abstract: This study aims to examine the effect of the provided reporting channels on intention of individuals to disclose fraud actions (whistleblowing), moderated by rewards and guaranteed protection. The approach used is an experiment by assigning graduate students in public sector financial management as participants. The results show that although reporting channels were provided, they did not automatically make individuals whistleblowing even if when reward was provided, it did not significantly affect individuals’ whistleblowing. However, when a treatment was given on the experimental model by providing a guarantee of protection for whistleblowers, it was seen that there was significant effect on the strong intention from individuals whistleblowing, the implication of this study is the importance of protection for whistleblowers, so that the disclosure of fraud will be more effective.
  • JEL Classification: M42
  • Key words: Whistleblowing, reporting channels, reward, guaranteed protection

Time to Default in Credit Scoring Using Survival Analysis

  • Page: 234
  • Authors: Ana Maria SANDICA, Monica DUDIAN
  • Abstract: Credit risk assesment has been dominated by logistic and probit regression techniques. As the use of credit scoring has expanded over the past 20 years, concerns have been raised about whether its use may unfairly affect minorities. The aim of this paper is to investigate the behavioral of gender variable in different credit scoring models and what are the benefits of using this variable. The first result shows that females have a probability of surviving 22 months of 75%; conversely, for the male group, the probability of surviving the same time is slightly more than 75%. Adding education as variable, we observe that male with university degree recorded a survival probability of 90% after 20 months, male with high school 75% while female with high school only 50%. The hazard for female is in average 1.12 times the hazard for males. The results show that the single and divorced females survive more than males in the same marital status.
  • JEL Classification: C34, C35, D61, D81, G21, J16
  • Key words: credit scoring, survival analysis, proportional hazards, default

Examining the Determinants of China’s Inward FDI Using Grey Matrix Relational Analysis Model

  • Page: 254
  • Authors: Hang JIANG, Jan-Yan LIN, Yi-Chung HU
  • Abstract: Grey relational analysis (GRA) model is an important part of grey system theory, which is used to ascertain the relational grade between an influential factor and the major behavior factor. Most of GRA models are mainly applied to the field in which the behavior factor and influential factor are the cross-sectional or time series data in a given system. However, owing to the panel data contains plenty information including individual and time
    characteristics, the traditional GRA model cannot be applied to panel data analysis. To overcome this drawback, the grey matrix relational analysis model is applied to measure the similarity of panel data from two dimensions of individual and time on the basis of the definition of the matrix sequence of a discrete data sequence. This paper examines the determinants of inward foreign direct investment (IFDI) in China using grey matrix relational analysis model. The study finds that the GDP per capita, enrollment of regular institutions of higher education, and internal expenditure on R&D are the key factors of IFDI.
  • JEL Classification: F210, R110, C60
  • Key words: grey matrix relational analysis model, grey relational analysis, panel data, inward foreign direct investment

Identify the Important Decision Factors of Online Shopping Adoption in Indonesia

  • Page: 266
  • Authors: Lailatul HIJRAH
  • Abstract: The objective of this study is to identify factors encouraging a consumer to engage in online shopping activities. The expected contribution of this study is for online entrepreneurs, in order to develop the most suitable business strategy, so that it will be clearly identified and sorted out which factors are the most important and the main motivation of Indonesian consumers to shop via online by using responses from respondents who usually shop online and offline in 3 cities in Indonesia, Jakarta, Surabaya and Samarinda. The research instruments were developed by conducting FGDs on relevant groups, either academics, online shopping activists, suppliers and courier businessmen in Jakarta, Surabaya and Samarinda Cities in effort to extract any information that encourages consumers to online shopping. After conducting FGD, the researcher produced 48 items proposed for factor analysis and after extracted to form eleven constructs, some items were removed because they had less loading factors. The eleven constructs or dimensions are trust, risk, consumer factors, website factors, price, service quality, convenience, subjective norm, product guarantee, variety of products and lifestyle. The implications of this study provide valuable insights about consumer decisions to online shopping or not online shopping.
  • JEL Classification: M31
  • Key words: trust, risk, consumer factors, website factors, price, service quality, convenience, subjective norm, product guarantee, variety of products and lifestyle

Eco - innovation - a Factor for Increasing the Competitiveness of the Economy in the Context of Sustainable Development

  • Page: 284
  • Authors: Alexandra-Ioana LAZĂR
  • Abstract: Changes have their sources in external or internal factors and may only produce a slight adjustment from a functional and structural point of view or may lead to a redesign of its essence. Efficiency refers to the ability to identify the most appropriate services, the use of appropriate technologies and the introduction of the best procedure.
    The only way to reduce environmental impacts is technological innovation and companies should consider the challenge of sustainable development by investing in the R&D sector.
    This paper involves treating two key concepts, innovation as a pillar of the environment for sustainable development and competitiveness. In this context, special attention is given to sustainable innovation.
    The beneficial effect of applying eco-innovation cannot be achieved without the existence of technological capacity. Adopting eco- efficient technologies involve substantial costs and requires a strong learning process based on R&D. So we considered it necessary to analyze the impact of the R&D sector on the eco-innovation based on econometric model, using linear regression. The analysis confirms the dependence of eco-innovation on R&D spending and in order to demonstrate the validity of this result we used the Eviews program.
  • JEL Classification: O10, O32
  • Key words: eco-innovation, R&D, competitiveness

A Critical Synthesis of Scientific Research on Business Models and Business Model Components

  • Page: 297
  • Authors: Roxana CLODNIȚCHI
  • Abstract: The current volatile economic environment, globalization and evermore shorter technology cycles impact the way business is done today. Business modelling proves itself as an instrument, which may impact decisively the success or failure of a business. This is why both the business and academic community critically address this issue. The aim of this article is to contribute to the development of a unifying research agenda by synthesising the most relevant scientific research and studies. The author reviewed and analysed the scientific theoretical framework on this subject from the past 15 years. The research result consists in a systematisation on past approaches on business modelling stressing the components as they are defined by contemporary scholars. By doing this, the author aims at reconciling the fragmented and only partially overlapping definition of the concept of “business model”.
  • JEL Classification: L20, M10
  • Key words: business models, business model components, business model elements, business model definition




The Bucharest University of Economic Studies (ASE)
Faculty of Management, Department of Management
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