Template-Type: ReDIF-Article 1.0 Author-Name: Ha-Yeon Jang Author-X-Name-First: Ha-Yeon Author-X-Name-Last: Jang Author-Name: Young-Min Lee Author-X-Name-First: Young-Min Author-X-Name-Last: Lee Title: Investigating the perception of the elderly on the future of labour market Abstract: This study aims to explore the future labour market, which faces significant changes, using Q methodology. The Ken-Q Analysis program was used to analyse the result. The results found that elderly workers' perceptions about the future labour market can be divided into four categories: 'positive future acceptance', 'pessimistic human-machine collaboration', 'pessimistic job polarisation', and 'ultra-pessimistic frustrated job seeker'. Based on the study results, the study seeks to suggest directions for Korea's employment policies to brace for the future labour market and suggest implications for international countries to develop for new employment policy. Journal: Int. J. of Trade and Global Markets Pages: 71-80 Issue: 1 Volume: 13 Year: 2020 Keywords: elderly; elderly workers; future labour market; Q methodology. File-URL: http://www.inderscience.com/link.php?id=104905 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:71-80 Template-Type: ReDIF-Article 1.0 Author-Name: Adefemi A. Obalade Author-X-Name-First: Adefemi A. Author-X-Name-Last: Obalade Author-Name: Paul-Francois Muzindutsi Author-X-Name-First: Paul-Francois Author-X-Name-Last: Muzindutsi Title: Validating the adaptive market hypothesis in the Tunisian stock market Abstract: We investigated how the adaptive market hypothesis (AMH) offers better explanations for stock return behaviour than the popular efficient market hypothesis (EMH) in the Tunisian Stock Market (TSE). Daily stock index returns from April 1999 to February 2018 were employed. We performed linear and non-linear predictability tests to test whether the TSE undergoes time-varying efficiency. Dummy regression models were performed to determine whether market conditions influence return predictability. Our findings show that the TSE witnessed the era of predictability and unpredictability. We found high return predictability during high volatility period but low predictability during the bull and bear conditions. We submit that the AMH is valid in the TSE. Journal: Int. J. of Trade and Global Markets Pages: 42-51 Issue: 1 Volume: 13 Year: 2020 Keywords: return predictability; AMH; adaptive market hypothesis; EMH; efficient market hypothesis; BDS test. File-URL: http://www.inderscience.com/link.php?id=104906 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:42-51 Template-Type: ReDIF-Article 1.0 Author-Name: Anjar Priyono Author-X-Name-First: Anjar Author-X-Name-Last: Priyono Author-Name: Siti Nursyamsiah Author-X-Name-First: Siti Author-X-Name-Last: Nursyamsiah Author-Name: Baziedy Aditya Darmawan Author-X-Name-First: Baziedy Aditya Author-X-Name-Last: Darmawan Title: Network-based dynamic capabilities in internationalisation of SMEs: case studies in emerging economy Abstract: This study aims to identify how networks support firms to penetrate foreign markets, and how networks improve their capability to better fulfil the needs of markets abroad. A multiple case study research design was used to explore the use of networks to support dynamic capabilities of small and medium enterprises (SMEs). The study used various sources of data and data collection methods to enable researchers to undertake triangulation. Data analysis demonstrated that with the support of networks, SMEs gain a number of benefits, including obtaining scarce resources, knowledge acquisition and overcoming resource constraints. This study thus suggests that the managers of SMEs should attempt to convert their networking capabilities into routines, so that these capabilities are not embedded in certain people only. Journal: Int. J. of Trade and Global Markets Pages: 11-20 Issue: 1 Volume: 13 Year: 2020 Keywords: SMEs internationalisation; networking; dynamic capabilities; knowledge acquisition; resource orchestration. File-URL: http://www.inderscience.com/link.php?id=104907 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:11-20 Template-Type: ReDIF-Article 1.0 Author-Name: Sam'un Jaja Raharja Author-X-Name-First: Sam'un Jaja Author-X-Name-Last: Raharja Author-Name: Anindita Citra Dewakanya Author-X-Name-First: Anindita Citra Author-X-Name-Last: Dewakanya Title: Impact of electronic word-of-mouth on brand awareness in the video game sector: a study on Digital Happiness Abstract: Electronic word-of-mouth (e-WOM) plays a vital role in marketing. By using technology, it is much easier for the consumer to share about brand, product or service. The purpose of this study is to analyse the impacts of e-WOM on the brand awareness of the video game developed by Digital Happiness, the company with international audience. Here, the research method used is of quantitative type. Data were collected from literature studies and questionnaires. Sample size is 63 respondents from whom the data were collected using random sampling. The data were analysed using simple regression analysis. Results show that e-WOM affects brand awareness. Any increase of e-WOM will increase the brand awareness. Journal: Int. J. of Trade and Global Markets Pages: 21-30 Issue: 1 Volume: 13 Year: 2020 Keywords: electronic word-of-mouth; brand awareness; DreadOut; Digital Happiness. File-URL: http://www.inderscience.com/link.php?id=104908 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:21-30 Template-Type: ReDIF-Article 1.0 Author-Name: Imam Ghozali Author-X-Name-First: Imam Author-X-Name-Last: Ghozali Author-Name: Khoirunurrofik Author-X-Name-First: Author-X-Name-Last: Khoirunurrofik Title: Fiscal decentralisation and capital expenditure composition of regional government in Indonesia Abstract: This study analyses the impact of fiscal decentralisation on the composition of regional government spending using unbalanced panel data of districts and cities in Indonesia during 2011-2015. Fiscal decentralisation, in terms of spending, increases the composition of capital expenditure in traditional infrastructure that give Indonesian comparative advantages in international trade. However, its also decreases the composition of capital expenditure in human capital infrastructure. Therefore, the local governments must keep maintaining a reasonable spending for human capital infrastructure to improve its quality and increase the competitiveness of Indonesian human resources for facing the era of free trade and labour mobility. Journal: Int. J. of Trade and Global Markets Pages: 81-88 Issue: 1 Volume: 13 Year: 2020 Keywords: fiscal decentralisation; regional spending; infrastructure; human capital. File-URL: http://www.inderscience.com/link.php?id=104909 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:81-88 Template-Type: ReDIF-Article 1.0 Author-Name: Siwapong Dheera-aumpon Author-X-Name-First: Siwapong Author-X-Name-Last: Dheera-aumpon Title: Misallocation and manufacturing TFP in Thailand after the 1997 Asian financial crisis Abstract: This paper evaluates the degree of resource misallocation and its effect on aggregate productivity in the Thai manufacturing sector after the 1997 crisis. This paper uses plant-level data from Thailand's Industrial Surveys. The results indicate that misallocation slightly decreases during 1999-2000 but significantly increases during 2000-2002. A change in misallocation, therefore, can slightly explain an increase in productivity during 1999-2000, but cannot explain an increase in productivity afterward. Different from other countries enjoying a decrease in misallocation for years after a crisis, Thailand has a decrease in misallocation for only a few years before experiencing an increase in misallocation again. Journal: Int. J. of Trade and Global Markets Pages: 118-125 Issue: 1 Volume: 13 Year: 2020 Keywords: crisis; manufacturing; misallocation; productivity; TFP; total factor productivity; Thailand. File-URL: http://www.inderscience.com/link.php?id=104910 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:118-125 Template-Type: ReDIF-Article 1.0 Author-Name: Marcellia Susan Author-X-Name-First: Marcellia Author-X-Name-Last: Susan Author-Name: Hamfri Djajadikerta Author-X-Name-First: Hamfri Author-X-Name-Last: Djajadikerta Title: Determinants of e-money adoption: an empirical study Abstract: Electronic-money (e-money) does work not only as a substitute for physical cash but also as a system that made payments on goods and services possible that facilitate transactions in both domestic and global markets. This research is conducted to analyse certain factors that determine the behavioural intention and adoption of e-money. Data concerning adoption readiness (perceived ease of use, perceived usefulness and social influence), perceived credibility, behavioural intention and adoption of e-money were processed using structural equation modelling to ensure the relationships between research variables. The results indicate that perceived credibility positively affects behavioural intention and behavioural intention positively affects e-money adoption. Journal: Int. J. of Trade and Global Markets Pages: 98-105 Issue: 1 Volume: 13 Year: 2020 Keywords: adoption readiness; behavioural intention; e-money adoption. File-URL: http://www.inderscience.com/link.php?id=104911 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:98-105 Template-Type: ReDIF-Article 1.0 Author-Name: Wanniwat Pansuwong Author-X-Name-First: Wanniwat Author-X-Name-Last: Pansuwong Title: Business model and business model innovation: scholarly incongruence and implications to entrepreneurial firms Abstract: Recent entrepreneurship research emphasise the importance of the emerging knowledge in business model and business model innovation as they can be considered critical for businesses to disrupt and compete effectively in the dynamic international business markets. To date, there still is incongruence in conceptualisation of these terminologies and inconsistent empirical findings, conclusions and implications. This study reviews definitions/concepts that influence and present significant implications to scholars in the field and implications to entrepreneurial firms following the narrative literature review approach. The study presents a more congruent trend of understanding of the concepts while justifying their implications to contemporary entrepreneurial firms. Journal: Int. J. of Trade and Global Markets Pages: 31-41 Issue: 1 Volume: 13 Year: 2020 Keywords: business model; business model innovation; entrepreneurial firms; incongruence. File-URL: http://www.inderscience.com/link.php?id=104912 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:31-41 Template-Type: ReDIF-Article 1.0 Author-Name: Felizia Arni Rudiawarni Author-X-Name-First: Felizia Arni Author-X-Name-Last: Rudiawarni Author-Name: I. Made Narsa Author-X-Name-First: I. Made Author-X-Name-Last: Narsa Author-Name: Bambang Tjahjadi Author-X-Name-First: Bambang Author-X-Name-Last: Tjahjadi Title: Are emotions exacerbating the recency bias?: An experimental study Abstract: This research aims to examine whether emotions can affect the recency bias in judgement and decision making (JDM). This study finds that the effect of recency bias is so strong that emotion does not affect the recency bias experienced by participants when making decisions. Further analysis shows that humans tend to weigh negative information more heavily than positive information. This research contributes to behavioural finance research in which this research incorporates an element of emotion in the recency bias, where this is so far known, is still not widely researched, especially in emerging market. Journal: Int. J. of Trade and Global Markets Pages: 61-70 Issue: 1 Volume: 13 Year: 2020 Keywords: recency bias; emotion; JDM; judgement and decision making; experimental study. File-URL: http://www.inderscience.com/link.php?id=104913 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:61-70 Template-Type: ReDIF-Article 1.0 Author-Name: Renáta Pitoňáková Author-X-Name-First: Renáta Author-X-Name-Last: Pitoňáková Title: Measuring trade specialisation of Slovakia on extra EU market Abstract: The paper copes with trade specialisation of Slovakia on extra EU market. Revealed comparative advantages (RCA) were identified for good categories in 2009, 2013 and 2017. The results indicate stability of trade pattern and increase in the level of specialisation between 2013-2017. The machinery and transport equipment sector was identified as the most competitive. The outcomes show prerequisites of Slovakia for maintaining its comparative advantages in automobile manufacture but at the same time reveal a need to diversify existing export structure. Journal: Int. J. of Trade and Global Markets Pages: 3-10 Issue: 1 Volume: 13 Year: 2020 Keywords: export; comparative advantages; SITC; specialisation. File-URL: http://www.inderscience.com/link.php?id=104914 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:3-10 Template-Type: ReDIF-Article 1.0 Author-Name: Ikeu Kania Author-X-Name-First: Ikeu Author-X-Name-Last: Kania Author-Name: Dini Turipanam Alamanda Author-X-Name-First: Dini Turipanam Author-X-Name-Last: Alamanda Author-Name: Fajar Sidiq Adi Prabowo Author-X-Name-First: Fajar Sidiq Adi Author-X-Name-Last: Prabowo Author-Name: Abdullah Ramdhani Author-X-Name-First: Abdullah Author-X-Name-Last: Ramdhani Author-Name: Raden Roro Karina Fitria Author-X-Name-First: Raden Roro Karina Author-X-Name-Last: Fitria Title: The key metrics of traditional market revitalisation from tenant's perspective Abstract: The revitalisation of traditional markets in the city of Bandung have long drawn the attention of the municipal government. Since the party defines the existence of traditional markets, the satisfaction of traditional market tenants should be a key performance metric that is used to guide the efforts and measure the success of revitalisation. Surprisingly, studies that investigate factors of tenant satisfaction are scarce; therefore, this study aims to contribute to closing that gap. An exploratory design is used as the method of this study. The factors that contribute to tenant satisfaction are found to be traditional market governance, service and facilities quality and environmental management. Interestingly, market governance is found to contribute the most to tenant satisfaction. These findings show that evaluating current market governance practices must be the first step in improving the competitiveness of traditional markets in Bandung. Journal: Int. J. of Trade and Global Markets Pages: 89-97 Issue: 1 Volume: 13 Year: 2020 Keywords: tenant satisfaction; traditional market; traditional market revitalisation; exploratory factor analysis. File-URL: http://www.inderscience.com/link.php?id=104918 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:89-97 Template-Type: ReDIF-Article 1.0 Author-Name: Tri Damayanti Author-X-Name-First: Tri Author-X-Name-Last: Damayanti Author-Name: Haninun Haninun Author-X-Name-First: Haninun Author-X-Name-Last: Haninun Author-Name: Lindrianasari Lindrianasari Author-X-Name-First: Lindrianasari Author-X-Name-Last: Lindrianasari Author-Name: Aminah Aminah Author-X-Name-First: Aminah Author-X-Name-Last: Aminah Author-Name: Nurdiawansyah Nurdiawansyah Author-X-Name-First: Nurdiawansyah Author-X-Name-Last: Nurdiawansyah Title: Board characteristics and environmental performance in Indonesian family business Abstract: This study investigates the impact of board characteristics on environmental performance in listed Indonesian family companies. We analysed 130 listed family firms using unbalanced panel method. Results reveal that board characteristics do not affect environmental performance, i.e., agency problem II. Environmental performance is a strategic non-financial issue, and it has several consequences, including external stakeholders and costs. Environmental performance is also not influenced by family ownership. This finding is important in the international market because many Indonesian family businesses deal with several foreign investors and international business. Journal: Int. J. of Trade and Global Markets Pages: 106-117 Issue: 1 Volume: 13 Year: 2020 Keywords: environmental strategy; management family decision and incentives; family coalition. File-URL: http://www.inderscience.com/link.php?id=104919 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:106-117 Template-Type: ReDIF-Article 1.0 Author-Name: Dedhy Sulistiawan Author-X-Name-First: Dedhy Author-X-Name-Last: Sulistiawan Author-Name: Felizia Arni Rudiawarni Author-X-Name-First: Felizia Arni Author-X-Name-Last: Rudiawarni Author-Name: Yie Ke Feliana Author-X-Name-First: Yie Ke Author-X-Name-Last: Feliana Title: Examining trading strategies using trend following indicators for Indonesian stock market Abstract: This study aims to examine the reliability of the technical analysis (TA) approach in Indonesian stock exchanges, specifically moving-average trading rule to determine buy/sell signals. Using ten-year data from 2008-2017, our study examines various exponential moving average (EMA) lengths ranging from shorter duration to longer duration. After considering transaction fee, the findings indicate that EMA are profitable indicators in Indonesian stock markets. Furthermore, this study also finds that higher (lower) return are produced by longer (shorter) EMA lengths. These results contribute to international investors for country-picking strategy including trading strategy in emerging markets. Journal: Int. J. of Trade and Global Markets Pages: 52-60 Issue: 1 Volume: 13 Year: 2020 Keywords: technical analysis; exponential moving average; trend following indicator; trading strategy. File-URL: http://www.inderscience.com/link.php?id=104921 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:52-60 Template-Type: ReDIF-Article 1.0 Author-Name: Purichat Rodpai Author-X-Name-First: Purichat Author-X-Name-Last: Rodpai Author-Name: Jongrak Hong-ngam Author-X-Name-First: Jongrak Author-X-Name-Last: Hong-ngam Title: Strategic management in a public hospital by balanced scorecard and economics analysis Abstract: The objective of this study was to examine the overall management efficiency of a public hospital in the Northeastern region, Thailand by using the data envelopment analysis (DEA) and Balanced Scorecard (BSC) framework. The study was conducted in three phases including: 1) measuring the organisational performance efficiency using the DEA; 2) analysing the organisational strategic plan and formulating a strategy map to explain connections between strategic objectives based on the main perspectives of the BSC (financial, customer, internal process, and learning and growth); 3) interviewing hospital administrators about the overall strategic management of the hospital to determine how to improve management strategies to maximise balance and efficiency. Journal: Int. J. of Trade and Global Markets Pages: 126-133 Issue: 1 Volume: 13 Year: 2020 Keywords: balanced scorecard; DEA; data envelopment analysis; management; efficiency. File-URL: http://www.inderscience.com/link.php?id=104928 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:1:p:126-133 Template-Type: ReDIF-Article 1.0 Author-Name: Sri Rahayu Author-X-Name-First: Sri Author-X-Name-Last: Rahayu Author-Name: Tulus Haryono Author-X-Name-First: Tulus Author-X-Name-Last: Haryono Author-Name: Mugi Harsono Author-X-Name-First: Mugi Author-X-Name-Last: Harsono Author-Name: Ahmad Ikhwan Setiawan Author-X-Name-First: Ahmad Ikhwan Author-X-Name-Last: Setiawan Title: Examining brand affect mediation roles: trends and implications for tablet PCs market Abstract: This study aimed at examining the brand affect mediation role of brand intention and brand reliability influences towards purchase loyalty and attitudinal loyalty for the customers of tablet personal computers (hereafter: tablet PCs) in Indonesia. The country took 82% of the products market share of tablet PC in the South East Asia Region in 2014, and this figure is believed to remain high in recent years. A number of 195 university fresh-students in Yogyakarta, the city of education in Indonesia, were selected in a purposive sampling technique to fill out a tablet PC usage questionnaire. The data were analysed by using structural equation modelling (SEM). The results indicate brand affect's mediating role, brand intention and brand reliability positive effect on customers' loyalty, trend's volatility in purchasing tablet PCs, and brand intention and brand reliability's different effect towards attitudinal loyalty. Suggestions for managerial implications and research in the future are presented. Journal: Int. J. of Trade and Global Markets Pages: 144-160 Issue: 2 Volume: 13 Year: 2020 Keywords: brand intention; brand reliability; brand affect; purchase loyalty and attitudinal loyalty. File-URL: http://www.inderscience.com/link.php?id=106748 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:2:p:144-160 Template-Type: ReDIF-Article 1.0 Author-Name: Muhammad Kholid Arif Rozaq Author-X-Name-First: Muhammad Kholid Arif Author-X-Name-Last: Rozaq Author-Name: Asri Laksmi Riani Author-X-Name-First: Asri Laksmi Author-X-Name-Last: Riani Author-Name: Mugi Harsono Author-X-Name-First: Mugi Author-X-Name-Last: Harsono Author-Name: Ahmad Ikhwan Setiawan Author-X-Name-First: Ahmad Ikhwan Author-X-Name-Last: Setiawan Title: Exploring digital competing capability in the intention to adopt e-commerce (toward a conceptual model) Abstract: This paper explores the inconsistencies in the relationship between technology readiness dimension and technology adoption intention along with the existing phenomenon of low e-commerce adoption in Indonesia. The advantage of this research lies in the synthesis to gain and propose a new variable to bridge the inconsistencies. The new variable, digital competing capability, is what distinguishes this research from the previous studies on e-commerce adoption. The propositions for this research were developed from and based on three main theories, namely resource-based view (RBV), competitive advantage, and organisational adaptation. This research is expected to contribute to the development of technology adoption concept, with the appearance of digital competing capability as a new variable. This theoretical contribution helps filling the gaps in previous researches, aiming at strengthening the relationship between technology readiness and e-commerce adoption. Further researches to show empirical model results are highly recommended. Journal: Int. J. of Trade and Global Markets Pages: 199-219 Issue: 2 Volume: 13 Year: 2020 Keywords: e-commerce; digital competing capability; technology readiness; e-commerce adoption; MSME; micro; small and medium enterprises. File-URL: http://www.inderscience.com/link.php?id=106750 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:2:p:199-219 Template-Type: ReDIF-Article 1.0 Author-Name: Joko Suyono Author-X-Name-First: Joko Author-X-Name-Last: Suyono Author-Name: Hunik Sri Runing Sawitri Author-X-Name-First: Hunik Sri Runing Author-X-Name-Last: Sawitri Author-Name: Sinto Sunaryo Author-X-Name-First: Sinto Author-X-Name-Last: Sunaryo Author-Name: Ana Shohibul Mansur Author-X-Name-First: Ana Shohibul Author-X-Name-Last: Mansur Author-Name: Risgiyanti Author-X-Name-First: Author-X-Name-Last: Risgiyanti Title: Follower characteristics, obedience, and constructive resistance: the role of co-production leadership Abstract: Co-production leadership is an emerging leadership model which is not a leader-centred. It involves leaders and followers working together to determine organisational outcomes. The followers' personal characteristics will determine the extent to which followers are involved in the leadership process. Followers also have a variety of beliefs about their role, both in the traditional perspective and within the framework of a partnership with leaders. This makes the co-production leadership model influences follower behaviours in the form of compliance and constructive resistance. This study aimed to develop a model of co-production leadership by examining the followers' characteristics as a predictor, and its impact on the follower behaviours, such as compliance and constructive resistance. This research was conducted on a political party, which has not been done in previous studies. To test the model developed in this study, partial least square (PLS) analysis was employed. Journal: Int. J. of Trade and Global Markets Pages: 182-198 Issue: 2 Volume: 13 Year: 2020 Keywords: co-production leadership; individualism; collectivism; proactive personality; obedience; constructive resistance. File-URL: http://www.inderscience.com/link.php?id=106752 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:2:p:182-198 Template-Type: ReDIF-Article 1.0 Author-Name: Yeterina Widi Nugrahanti Author-X-Name-First: Yeterina Widi Author-X-Name-Last: Nugrahanti Author-Name: T. Sutrisno Author-X-Name-First: T. Author-X-Name-Last: Sutrisno Author-Name: Aulia Fuad Rahman Author-X-Name-First: Aulia Fuad Author-X-Name-Last: Rahman Author-Name: Endang Mardiati Author-X-Name-First: Endang Author-X-Name-Last: Mardiati Title: Do firm characteristics, political connection and corporate governance mechanism affect financial distress? (Evidence from Indonesia) Abstract: The objectives of this study are to evaluate the impact of firm characteristics (firm size, liquidity, profitability, and leverage), political connection and corporate governance mechanism (independent board of commissioner, institutional ownership, and board of commissioner size) on the level of financial distress. Altman Z-score is used to measure financial distress in this study. Purposive sampling was conducted and 576 firm-years non-financial companies listed in Indonesian Stock Exchange during 2014-2016 were acquired as the samples. For testing the hypotheses, unbalanced panel data regression with a random effect model was used. The findings showed that firm size, liquidity, profitability, and institutional ownership had a negative impact on financial distress; while leverage and the political connection had a positive impact on financial distress. The hypotheses testing results also showed that an independent board of commissioner and board of commissioner size did not influence financial distress. Journal: Int. J. of Trade and Global Markets Pages: 220-250 Issue: 2 Volume: 13 Year: 2020 Keywords: financial distress; firm size; liquidity; profitability; leverage; political connection; independent board of commissioner; institutional ownership; the board of commissioner size. File-URL: http://www.inderscience.com/link.php?id=106753 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:2:p:220-250 Template-Type: ReDIF-Article 1.0 Author-Name: Mohamad Harisudin Author-X-Name-First: Mohamad Author-X-Name-Last: Harisudin Author-Name: R. Kunto Adi Author-X-Name-First: R. Kunto Author-X-Name-Last: Adi Author-Name: Noor Anita Kusuma Pratama Author-X-Name-First: Noor Anita Kusuma Author-X-Name-Last: Pratama Title: Performance improvement strategies based on balanced scorecard for rural cooperative: the case of Indonesia Abstract: This study is intended to identify the problems affecting the cooperative performance, and ultimately to formulate an applicable strategic plan to improve the cooperative performance. The results show that: (1) The cooperative performance is considered good from financial perspective, poor from customer's perspective, good from internal business processes perspective, and decent from learning and growth perspective. (2) The issues affecting the cooperative performance are: lack of employee's discipline due to the absence of attendance management system, large number of competitors, low capability of employees, declining number of members, many passive members, lack of members' loyalty, and untimely payment from partner companies for dairy sales. (3) The applicable strategies to improve the cooperative performance are: applying appropriate attendance management system, applying innovations in cooperative business, and improving employee productivity in generating income for village unit cooperative. Journal: Int. J. of Trade and Global Markets Pages: 161-181 Issue: 2 Volume: 13 Year: 2020 Keywords: balanced scorecard; performance; cooperative; strategic; performance. File-URL: http://www.inderscience.com/link.php?id=106757 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:2:p:161-181 Template-Type: ReDIF-Article 1.0 Author-Name: Yu Hsing Author-X-Name-First: Yu Author-X-Name-Last: Hsing Title: Exchange rate movements and aggregate output: the case of China Abstract: Applying an extended IS-MP-AS model (Romer, 2000), this paper finds that real GDP in China has a positive relationship with real depreciation during 1990-2005 and the real stock price and a negative relationship with real depreciation during 2006-2016, the lagged US real interest rate, the real oil price and the expected inflation rate. Therefore, during 1990-2005, the benefits of real depreciation such as more exports overwhelmed the costs of real depreciation such as higher import costs, higher inflation and less capital inflows whereas during 2006-2016, the benefits of real appreciation such as lower import costs, lower inflation, and more capital inflows dominated its negative effects such as less exports. Journal: Int. J. of Trade and Global Markets Pages: 135-143 Issue: 2 Volume: 13 Year: 2020 Keywords: currency depreciation or appreciation; deficit spending; stock prices; world interest rates; oil prices. File-URL: http://www.inderscience.com/link.php?id=106758 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:2:p:135-143 Template-Type: ReDIF-Article 1.0 Author-Name: Suryanto Author-X-Name-First: Author-X-Name-Last: Suryanto Author-Name: Evi Gravitiani Author-X-Name-First: Evi Author-X-Name-Last: Gravitiani Author-Name: Akhmad Daerobi Author-X-Name-First: Akhmad Author-X-Name-Last: Daerobi Author-Name: Fitri Susilowati Author-X-Name-First: Fitri Author-X-Name-Last: Susilowati Title: Crop insurance as farmers adaptation for climate change risk on agriculture in Surakarta residency-Indonesia Abstract: This paper aims to examine variables that influence willingness to adaptation, besides to estimate production loss due to climate change. Specific goals can be split into three parts: the first step was to do mapping by geographic information systems (GIS). The second step was to assess economic losses by using production loss tools. Finally, the last step was identify the factors that affect farmers' decisions to adapt the climate changes risk. The research method used was a quantitative method by surveying areas classified as vulnerable to crop failure. There were 380 householders involved in this research. The approach used was the contingent valuation method (CVM). The results indicated that 128,154 hectares of agricultural land were vulnerable to natural disasters; whereas 41,704 hectares were vulnerable to drought. The estimated loss in these areas was more than 207 billion IDR, derived from the vulnerable agricultural land area to flooding or drought, and then multiplied by the potential loss of production. One policy to overcome injuries included crop insurance. However, the results revealed that 93% of respondents were not willing to pay premium of crop insurance. The willingness to pay for premium rate was less than 50,000 IDR per harvest period. It implies that the implementation of crop insurance in Indonesia still requires government subsidies. Journal: Int. J. of Trade and Global Markets Pages: 251-266 Issue: 2 Volume: 13 Year: 2020 Keywords: climate change; adaptation; crop insurance; willingness to pay; WTP; vulnerability; risk management; flood; drought; farmer. File-URL: http://www.inderscience.com/link.php?id=106771 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:2:p:251-266 Template-Type: ReDIF-Article 1.0 Author-Name: Zeenat Fatima Author-X-Name-First: Zeenat Author-X-Name-Last: Fatima Author-Name: Mohd. Shamim Author-X-Name-First: Mohd. Author-X-Name-Last: Shamim Title: The dynamic nexus between GDP, consumption and exports of BRICS counties: an ARDL cointegration analysis Abstract: The study empirically examines the consumption and export-led growth strategy of BRICS countries. The country-specific time series data have been used to examine the short and long-run impact between the gross domestic product (GDP), export and consumption from 1989 to 2016. The autoregressive distributed lag (ARDL) and error correction method are applied for the equilibrium-adjustment analysis. The ARDL bound test confirms the long-run cointegration between the variables of Brazil, Russia, India and China (BRIC) and fails to indicate any cointegration in South Africa series. Hence, the empirical evidence shows that both the strategies play a significant role in disequilibrium correction of BRIC countries whereas system analysis has been done in Brazil and Russia series. It implies that Brazil and Russian economic systems have bi-directional long-run causality. However, India and China series have uni-directional long-run causality from export and consumption to GDP whereas South Africa series has only short-run causality. Journal: Int. J. of Trade and Global Markets Pages: 267-287 Issue: 3 Volume: 13 Year: 2020 Keywords: BRICS; consumption; trade; cointegration analysis. File-URL: http://www.inderscience.com/link.php?id=108776 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:3:p:267-287 Template-Type: ReDIF-Article 1.0 Author-Name: Ali Muktiyanto Author-X-Name-First: Ali Author-X-Name-Last: Muktiyanto Author-Name: Ancella Anitawati Hermawan Author-X-Name-First: Ancella Anitawati Author-X-Name-Last: Hermawan Author-Name: Rini Dwiyani Hadiwidjaja Author-X-Name-First: Rini Dwiyani Author-X-Name-Last: Hadiwidjaja Title: The role of management control systems in the performance of higher education through good university governance Abstract: Management control systems (MCSs) encourage university management to focus on achieving the expected performance. Unfortunately research on MCS in the public sector, has been very limited especially in the universities. It has been argued that MCS affects the Performance of Higher Education albeit in a weak manner. However, there are certain other variables that influence the role of MCS on higher education performance. Good university governance (GUG) is one of them. Kim (2008) states that GUG factors determine the success of management, quality control and organisational performance. This study seeks to examine the role of GUG under the influence of MCS on Performance. A study of 70 undergraduate accounting study programs in Indonesia using structural equation model has shown that MCS does affect performance. The effect is more pronounced with GUG being a mediator between MCS and performance. This suggests that the role of GUG should be optimised to enhance the role of MCS. Journal: Int. J. of Trade and Global Markets Pages: 288-310 Issue: 3 Volume: 13 Year: 2020 Keywords: management control system; higher education; performance; GUG; good university governance. File-URL: http://www.inderscience.com/link.php?id=108777 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:3:p:288-310 Template-Type: ReDIF-Article 1.0 Author-Name: Edi Cahyono Author-X-Name-First: Edi Author-X-Name-Last: Cahyono Author-Name: Tulus Haryono Author-X-Name-First: Tulus Author-X-Name-Last: Haryono Author-Name: Budhi Haryanto Author-X-Name-First: Budhi Author-X-Name-Last: Haryanto Author-Name: Mugi Harsono Author-X-Name-First: Mugi Author-X-Name-Last: Harsono Title: The role of gender in the relationship between abusive supervision and employee's organisational citizenship behaviour in Indonesia Abstract: The purpose of this paper is twofold; first, to examine the relationship between employee's perception of abusive supervision and their organisational citizenship behaviour (OCB) and, second, to investigate the moderating role of gender differences on this relationship. Data were collected from 104 employee's working in an Indonesian hotel through self-report questionnaires. The finding of the study confirms that abusive supervision is negatively related to subordinates' OCB. The study also reveals that women employees OCB lower often than their men counterpart, when they perceive their supervisors to be abusive. The study's implications for theory and practice are discussed, its limitations are identified, and directions for future research are suggested. Journal: Int. J. of Trade and Global Markets Pages: 311-322 Issue: 3 Volume: 13 Year: 2020 Keywords: abusive supervision; gender; OCB; organisational citizenship behaviour. File-URL: http://www.inderscience.com/link.php?id=108778 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:3:p:311-322 Template-Type: ReDIF-Article 1.0 Author-Name: Katharina Radler Author-X-Name-First: Katharina Author-X-Name-Last: Radler Author-Name: Vito Bobek Author-X-Name-First: Vito Author-X-Name-Last: Bobek Author-Name: Romana Korez Vide Author-X-Name-First: Romana Korez Author-X-Name-Last: Vide Author-Name: Tatjana Horvat Author-X-Name-First: Tatjana Author-X-Name-Last: Horvat Title: Buying motives as demand factors for life insurances in emerging and developed markets: the case of Romania and Austria Abstract: This paper aims to explore buying motives as demand factors for life insurances and private pensions in emerging and developed markets, based on the comparative analysis of findings of surveys and interviews conducted in Romania and Austria.1 The comparative analysis between the quantitative research has shown that in Romania several more factors were influencing the steps between having no intention, the intention and the decision to buy a life insurance and private pension product than in Austria. However, trust in insurance companies and the central role of the sales agents have shown to be decisive for wanting to buy or having already acquired a life insurance in both countries. In Austria it is a personal choice, if the customer wants to invest in life insurance, in Romania, however, it is a challenge related to the regulatory and economic perspective of the country. Journal: Int. J. of Trade and Global Markets Pages: 323-347 Issue: 3 Volume: 13 Year: 2020 Keywords: life insurances; demand factors; buying motives; emerging markets; Romania; Austria. File-URL: http://www.inderscience.com/link.php?id=108779 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:3:p:323-347 Template-Type: ReDIF-Article 1.0 Author-Name: Suk-Jun Lim Author-X-Name-First: Suk-Jun Author-X-Name-Last: Lim Author-Name: Jeong-Yeol Park Author-X-Name-First: Jeong-Yeol Author-X-Name-Last: Park Author-Name: Hyun-Jung Nam Author-X-Name-First: Hyun-Jung Author-X-Name-Last: Nam Author-Name: Sun-Hwa Park Author-X-Name-First: Sun-Hwa Author-X-Name-Last: Park Title: The moderating role of ASEAN-Korea FTA on the relationship between trade and South Korean outward FDI Abstract: This study examines the determinants of outward Korean foreign direct investment (FDI) in ASEAN countries and the moderating role of the ASEAN-Korea FTA. We utilised the generalised least squares (GLS) with 170 country-year panel data obtained from 10 ASEAN countries and South Korea from 2000 to 2016. The trade volume between ASEAN countries and South Korea had a positive impact on outward FDI of South Korea, supporting the complementary relationship between trade volume and FDI. Also, the moderating effect of ASEAN-Korea FTA on the relationship between trade and FDI was found. It implies that the implementation of ASEAN-Korea FTA stimulates not only outward FDI of South Korea but also the effective economic integration among countries. Thus, we suggest that ASEAN-Korea FTA would be a good way to establish a cooperative framework among countries and improve these countries' economic welfare. Journal: Int. J. of Trade and Global Markets Pages: 348-365 Issue: 3 Volume: 13 Year: 2020 Keywords: FDI; foreign direct investment; ASEAN-Korea free trade agreement; GLS; generalised least squares. File-URL: http://www.inderscience.com/link.php?id=108781 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:3:p:348-365 Template-Type: ReDIF-Article 1.0 Author-Name: Seyedeh Hashemiyeh Mirrezaei Author-X-Name-First: Seyedeh Hashemiyeh Author-X-Name-Last: Mirrezaei Title: A new approach on effective control regarding e-commerce risks in stock exchange market focusing on cloud computing (a caste study: Tehran Stock Market) Abstract: Effective risk control is as significant as maximising the return of investment for investors; therefore, it is essential to examine patterns and tools of the effective risk control for investors. By using local and global optimisation algorithms, the approach minimises risk-based control patterns, draws and compares its performance boundaries. For this purpose, after testing the normal distribution of returns of selected companies, parametric nonlinear planning patterns are introduced for all three effective risk control models. Using optimisation algorithms and Matlab software, the optimisation function is based on fuzzy hierarchical analysis method, fuzzy DEA and an intelligent optimisation model in the cloud environment to do the comparison. For economic users of the stock exchange, the cloud environment was an unsafe media, and the cloud itself is considered a risk. The study findings show the fuzzy optimised model can better understand the cloud environment and the risks more effectively than other models. Journal: Int. J. of Trade and Global Markets Pages: 367-377 Issue: 4 Volume: 13 Year: 2020 Keywords: effective risk control; optimisation of risk detection methods; fuzzy analysis; cloud computing; stock exchange; computer networks; XenPump; economic users; business; employees; e-commerce. File-URL: http://www.inderscience.com/link.php?id=111121 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:4:p:367-377 Template-Type: ReDIF-Article 1.0 Author-Name: Andrew Muhammad Author-X-Name-First: Andrew Author-X-Name-Last: Muhammad Author-Name: Jada M. Thompson Author-X-Name-First: Jada M. Author-X-Name-Last: Thompson Author-Name: Karen L. DeLong Author-X-Name-First: Karen L. Author-X-Name-Last: DeLong Title: Implications of KORUS on US beef in South Korea Abstract: We examined the competitiveness of US beef in South Korea and assessed how the US-Korea free trade agreement (KORUS) impacted preferences for imported beef products by exporting source (USA, Australia, and the rest of world). Since KORUS entered into force in 2012, US beef exports to Korea have increased 87% and the US is now the leading beef exporter to Korea. Overall, results indicated limited competition across exporting countries as evidenced by the insignificant cross-price estimates. However, we did find evidence of habit formation for US beef which indicates the success of KORUS for the US beef industry and underscores the critical desire to maintain this agreement. When examining how habit formation changed after the implementation of KORUS, we find clear evidence of an increase in preferences for US chilled beef in the South Korean market. Journal: Int. J. of Trade and Global Markets Pages: 378-393 Issue: 4 Volume: 13 Year: 2020 Keywords: beef; demand; KORUS; imports; Rotterdam model; South Korea; USA. File-URL: http://www.inderscience.com/link.php?id=111123 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:4:p:378-393 Template-Type: ReDIF-Article 1.0 Author-Name: Folasade Bosede Adegboye Author-X-Name-First: Folasade Bosede Author-X-Name-Last: Adegboye Author-Name: Romanus Osabohien Author-X-Name-First: Romanus Author-X-Name-Last: Osabohien Author-Name: Felicia Omowunmi Olokoyo Author-X-Name-First: Felicia Omowunmi Author-X-Name-Last: Olokoyo Author-Name: Oluwatoyin Augustina Matthew Author-X-Name-First: Oluwatoyin Augustina Author-X-Name-Last: Matthew Title: Foreign direct investment, globalisation challenges and economic development: an African sub-regional analysis Abstract: Foreign direct investment (FDI) inflow is a global phenomenon for Africa and developing economies alike. It is expected that globalisation would foster inflow of foreign capital, technology transfer and consequently economic development. This study aimed at examining the effect of FDI on economic development for developing economies in the SSA sub-region. The study used pooled data for 39 SSA countries for the period within years 2000 and 2018. The analysis method used for the examination was the fixed effect least square dummy variable regression model. The study found that FDI is tangibly significant in relation to economic development for SSA sub-region that depended less on it. The study recommends that, the government of SSA subregion should consider the extent to which they would exploit existing opportunities that globalisation affords vis-à-vis the inherent threats in order to maximise the gains and minimise the losses by guiding carefully the sector that foreign investment flows into. Journal: Int. J. of Trade and Global Markets Pages: 414-433 Issue: 4 Volume: 13 Year: 2020 Keywords: FDI; foreign direct investment; globalisation; economic development; African sub-regions; SSA; foreign capital; technology transfer; domestic investment. File-URL: http://www.inderscience.com/link.php?id=111124 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:4:p:414-433 Template-Type: ReDIF-Article 1.0 Author-Name: Boubellouta Bilal Author-X-Name-First: Boubellouta Author-X-Name-Last: Bilal Author-Name: An Lian Author-X-Name-First: An Author-X-Name-Last: Lian Title: The nominal devaluation and real devaluation: the case of Algeria Abstract: This paper explores the relationship between nominal and real effective exchange rates (REERs) using time series data over the period 1994-2018_for_Algeria. The autoregressive distributed lag (ARDL) and error correction method have been employed to test the long run and short run relationship. The estimations indicate that the nominal devaluation not only leads to real devaluation in long-run but also in the short-run. However, this relationship has become unstable after the collapse in oil prices and higher international food prices in the past few years. The main contributions of this paper are: (1) there is no study focused on the impact of nominal on REER for Algeria in recent years. (2) This is the first study examining the impact of the nominal devaluation on real devaluation by incorporating the structural reforms during the 1990s and the structural international world price hike in food and agriculture products after 2011. Journal: Int. J. of Trade and Global Markets Pages: 394-413 Issue: 4 Volume: 13 Year: 2020 Keywords: nominal devaluation; real devaluation; ARDL bounds testing; error correction method; cointegration; Algerian dinar; Algeria. File-URL: http://www.inderscience.com/link.php?id=111125 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:4:p:394-413 Template-Type: ReDIF-Article 1.0 Author-Name: Fabrizio Lanzafame Author-X-Name-First: Fabrizio Author-X-Name-Last: Lanzafame Author-Name: Michele Limosani Author-X-Name-First: Michele Author-X-Name-Last: Limosani Author-Name: Fabio Monteforte Author-X-Name-First: Fabio Author-X-Name-Last: Monteforte Title: The effect of digital financial innovation on structural transformation and the labour market Abstract: This paper focuses on the possible impact of more efficient credit allocation on a country's processes of structural transformation. We develop a dynamic version of a small-scale general equilibrium model for a dual economy, in which labour reallocation is accompanied by involuntary unemployment in the modern sector, whose degree of financial efficiency varies over time. Counterfactual simulations indicate that structural transformation is faster in economies with greater financial efficiency, because the incentives for intersectoral migration are greater. That is, from the very outset of the transition the expected utility of working in the modern sector is greater. In our simulations, the greater flow of labour does not translate into higher unemployment rates. Journal: Int. J. of Trade and Global Markets Pages: 434-453 Issue: 4 Volume: 13 Year: 2020 Keywords: structural change; dual economy; labour reallocation; intersaectoral migration; financial efficiency; credit allocation; labour market; efficiency wages; unemployment; digital economy. File-URL: http://www.inderscience.com/link.php?id=111126 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:4:p:434-453 Template-Type: ReDIF-Article 1.0 Author-Name: Mirna Indriani Author-X-Name-First: Mirna Author-X-Name-Last: Indriani Author-Name: Ratna Mulyany Author-X-Name-First: Ratna Author-X-Name-Last: Mulyany Author-Name: Indayani Author-X-Name-First: Author-X-Name-Last: Indayani Title: Behaviour towards investments in Islamic capital market: an exploratory study Abstract: This study aims to explore the behaviour of academicians in Indonesia towards investment in Islamic capital market (ICM). The concept of behaviour is analysed through the dimensions of the awareness and attitude. Four propositions were tested to identify whether there is any difference in the awareness and attitude based on demographic profiles and level of knowledge in ICM. The questionnaires were distributed with 280 responses were collected. Descriptive and non-parametric tests were performed to analyse the data. The findings uncovered relatively high level of awareness towards investment in ICM among the academicians yet their participation in the ICM activities is very limited. Religious motivation was found to be the main reason for investing. There was no difference in the awareness and attitude based on demographic factors. However there was significant difference in the attitude based on religion and awareness as well as attitude based on the level of knowledge about ICM. Journal: Int. J. of Trade and Global Markets Pages: 454-474 Issue: 4 Volume: 13 Year: 2020 Keywords: awareness; attitude; behaviour; investor; Islamic investment; capital market; religious motivation; Islamic capital market. File-URL: http://www.inderscience.com/link.php?id=111129 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:13:y:2020:i:4:p:454-474