Journal of Indonesian Economy and Business <p style="text-align: justify;"><img style="display: block; margin-left: auto; margin-right: auto;" src="/v3/public/site/images/jieb/homepageImage_en_US_(1).jpg" width="331" height="455"></p> <p style="text-align: justify;">Journal of Indonesian Economy and Business (JIEB), with registered number print ISSN&nbsp;<strong><a title="ISSN" href=";search[]=MUST=issnl=0215-2487&amp;currentpage=1&amp;size=10" target="_blank" rel="noopener">2085-8272</a></strong>; online ISSN&nbsp;<a title="Check ISSN" href=";search[]=MUST=issnl=0215-2487&amp;currentpage=1&amp;size=10" target="_blank" rel="noopener"><strong>2338-5847</strong>, </a>is a scientific, open access, peer-reviewed journal whose objectives is to publish original research papers related to the <strong>Indonesian economy and business issues</strong>. This journal is also dedicated to disseminating the published articles freely for international academicians, researchers, practitioners, regulators, and public societies.</p> <p style="text-align: justify;">The journal welcomes authors from any institutional backgrounds and accepts rigorous empirical research papers with any methods or approach that is relevant to the Indonesian economy and business context or content, as long as the research fits one of three salient disciplines: economics, business, or accounting.&nbsp;</p> <p style="text-align: justify;">The JIEB is Internationally indexed in <a href="" target="_blank" rel="noopener">SCOPUS</a>, EBSCOHost (<a href="">Business Source Corporate Plus</a>&nbsp;and&nbsp;<a href=";sid=d9b01640-fc29-4180-b733-0ef52c7990ab%40sessionmgr4006&amp;bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&amp;jid=BL33">Business Source Complete</a>),&nbsp;<a href="">EconLit</a>,&nbsp;<a href="">ProQuest</a>,&nbsp;<a href=";user=9VyQpCoAAAAJ&amp;view">Google Scholar</a>,&nbsp;<a href="">DOAJ</a>,&nbsp;<a href="">Microsoft Academic Search</a>, and ACI (<a title="ACI" href=";id=634">ASEAN Citation Index</a>). &nbsp;Furthermore, this journal has been nationally accredited by the Directorate-General for Research Strengthening and Development, the Ministry of Research and Technology for Higher Education, Republic of Indonesia (Decree No. 148/M/KPT/2020) in <a href="">SINTA 2 (Indonesian Science &amp; Technology Index).</a></p> <p style="text-align: justify;"><img style="display: block; margin-left: auto; margin-right: auto;" src="/v3/public/site/images/jieb/Akreditasi_JIEB.JPG" width="522" height="346"></p> <p style="text-align: justify;">&nbsp;</p> en-US <p><strong>Copyright</strong></p> <p>Upon acceptance of an article, authors transfer copyright to the JIEB as part of a journal publishing agreement, but authors still have the right to share their article for personal use, internal institutional use, and for any use permitted under the CC BY-SA license</p> <div> <p><strong>Open Access</strong></p> </div> <p>Articles are freely available to the public without any subscription with permitted reuse. For open access articles, permitted third party (re)use is defined by the following Creative Commons user licenses:&nbsp;<em><strong>Creative Commons Attribution (CC BY-SA)</strong>.</em></p> (Widya Paramita, Ph.D) (Maria Wintang Rarasati) Tue, 12 Sep 2023 00:00:00 +0700 OJS 60 The Impact of Workplace Ostracism Induced by Co-Worker Envy on Psychological Empowerment and Organizational Commitment <p><strong>Introduction/Main Objectives</strong>: Ostracism is a painful workplace experience that may influence employees' attitudes and behavior. This study aims to analyze how workplace ostracism impacts employees’ psychological empowerment and commitment through the co-worker envy mechanism. <strong>Background Problems</strong>: Previous studies mostly focused on ostracism and its effect on employees and organizations, and demonstrated inconsistency concerning the relationship between it and commitment. <strong>Novelty</strong>: The current study fills a gap, namely the inconsistencies of previous studies into the direct effect of workplace ostracism on organizational commitment.&nbsp;<strong>Research Methods</strong>: Data were collected from employees in the information and communication technology sectors in Indonesia. To collect the data, we used a self-report questionnaire to assess the employees’ perceived co-worker envy, perceived workplace ostracism, psychological empowerment, and commitment. Out of 499 online survey questionnaires filled out by the respondents, 201 responses met the criteria. Partial least squares structural equation modelling (PLS-SEM) was used to test the proposed hypotheses. <strong>Findings/Results</strong>: The result indicates that co-worker envy positively influences workplace ostracism. The resulting workplace ostracism indirectly leads to lower commit­ment, via employee psychological empowerment as a mediator. <strong>Conclusion</strong>: Taken together, the results of the study give additional and more substantial empirical evidence to the workplace ostracism literature.</p> Risgiyanti, Joko Suyono, Harmadi, Suryandari Istiqomah Copyright (c) 2023 Journal of Indonesian Economy and Business Mon, 11 Sep 2023 00:00:00 +0700 High Tax Burden Reduces Competitiveness: A Study of the Cocoa Industry in Indonesia <p><strong>Introduction: </strong>Due to its large production in Indonesia, cocoa beans have the potential to be one of the commodities that can increase state revenue, as they provide higher value-added than unprocessed cocoa beans. Domestic cocoa bean output has not been able to meet the needs of the domestic cocoa processing industry; hence cocoa bean imports have increased year after year. On the other hand, domestic processed cocoa producers must incur a significant tax burden to import cocoa beans. Finally, the total tax paid in the cocoa industry is substantial. It also makes domestic processed cocoa goods unable to compete with imported products.<strong> Background Problems</strong>: This study analyzes the tax policies' effects on the cocoa industry's local-oriented and export-oriented business processes.<strong> Novelty: </strong>This study provides critical insights into a comprehensive overview of tax policy on the processes of the cocoa business, whereas previous studies only addressed tax policies in one area of the cocoa industry, either the upstream, intermediate, or downstream sectors. <strong>Research Methods: </strong>This study applied a qualitative approach and collected the data through a literature study and in-depth interviews. <strong>Results: </strong>The findings revealed that tax policies on the local-oriented and export-oriented business processes of cocoa vary. The export-oriented downstream cocoa industry can utilize the facilities of a bonded zone, where the tax policy differs from that of a non-bonded zone.<strong> Conclusions: </strong>There are differences in the tax policies for cocoa's local and export-oriented business processes. The main issue for the local-oriented business processes is VAT. The imposition of VAT on cocoa beans is ultimately detrimental to farmers.</p> Murwendah, Wina Desyani Copyright (c) 2023 Journal of Indonesian Economy and Business Mon, 11 Sep 2023 00:00:00 +0700 The Role of Receiving Technology on Employee Performance: Job Satisfaction as Mediation <p><strong>Introduction/Main Objectives:</strong> The development of information technology today has resulted in the acceptance of technology being strongly influenced by transformational leadership, system quality, and facilitating conditions, as well as how it can affect employee performance and job satisfaction. <strong>Background Problems</strong>: Research on how job satisfaction mediates the relationship between employee performance and acceptance still needs to be improved. This research discusses how transformational leadership, facilitating conditions, and system quality shape technology acceptance and employee performance, primarily determined by job satisfaction, especially the mediating effect of job satisfaction on the relationship between techno­logy acceptance and employee performance. <strong>Novelty</strong>: Inconsistencies both in theory and empirically making it necessary to re-test transformational leadership, system quality, and conditions that facilitate technology acceptance and analyze the effect of technology acceptance on employee performance through job satisfac­tion, both directly and indirectly, in a study of the Ternate City Government. <strong>Research Method</strong>: 117 respondents were involved in this study. The respondents were determined through purposive sampling. The data were analyzed using partial least squares (PLS) version 3. Seven hypotheses were proposed in this study. <strong>Findings</strong>: The research findings indicate that system quality and facilitating conditions can predict technology acceptance and employee performance can predict job satisfaction. The results of this study confirm the indirect mediating function of job satisfaction in the relationship between technology acceptance and employee performance. <strong>Conclusion</strong>: The Municipal Government of Ternate must improve system information management and offer even better facilitating conditions for implementation to increase the acceptance of the technology.</p> Abdullah W. Jabid, Rinto Syahdan, Johan Fahri, Irfandi Buamonabot Copyright (c) 2023 Journal of Indonesian Economy and Business Mon, 11 Sep 2023 00:00:00 +0700 Does Heuristic Bias Matter for Long and Short-Term Investment Decision-Making During the COVID-19 Pandemic? <p><strong>Introduction/Main Objectives</strong>: This study examines the effect of heuristic behavior on investment decision-making in the long- and short-term during the COVID-19 pandemic in the Indonesian capital market. <strong>Background Problems</strong>: Traditional finance cannot fully explain how investors behave in the capital market. Investors will tend to use heuristics when making investment decisions because humans have cognitive limitations, as explained in the bounded rationality theory. Especially during the COVID-19 pandemic, investors have shown their irrationality due to the high uncertainty and panic caused by the COVID-19 pandemic. This phenomenon can only be explained by behavioral finance. <strong>Novelty</strong>: This study examines the effect of bias on the invest­ment decision-making of investors who make long-term and short-term investments. Previous studies only tested the impact of bias directly, without differentiating the length of time of the investment. <strong>Research Methods</strong>: This study used partial least squares structural equation modelling (PLS-SEM) with WarpPLS tool. Testing the moderating effect was undertaken using multi-group analysis (MGA). <strong>Finding/ Results</strong>: The results of this study indicate that anchoring and availability bias have a positive effect on investment decision-making, while representativeness bias has no significant impact. Investment time moderates the effect of representativeness bias on irrational investment decision-making, while anchoring and availability bias are not supported. <strong>Conclusion</strong>: Anchoring and availability heuristics will increase irrational investment decisions, while the effect of representativeness heuristics on irrational investment decisions will decrease when investors make long-term investments.</p> Wahyu Febri Ramadhan Sudirman, Muhammad Ikhsan Alif, Anggun Pratiwi Copyright (c) 2023 Journal of Indonesian Economy and Business Mon, 11 Sep 2023 00:00:00 +0700 Managing Consumers’ Adoption of Artificial Intelligence-Based Financial Robo-Advisory Services: A Moderated Mediation Model <p><strong>Introduction/Main Objectives: </strong>This study investigates the determinants of willingness to use financial robo-advisory services. The study aims to identify the intertwined roles of perceived value, perceived risk, and perceived financial knowledge in consumers’ acceptance of financial robo-advisory services. <strong>Background Problem: </strong>Fintech and AI-based applications have opened up new prospects for financial management, but studies into the adoption and implementation of robo-advisors are limited and scant. <strong>Novelty: </strong>The study offers novel insights by exploring the direct and indirect effects of perceived value and risk on consumer deci­sions around adopting robo-advisory services. The study also identifies other major drivers of robo-advisory service adoption and formulates a comprehensive model. <strong>Research Methods:</strong> A quantitative method using a deductive approach was applied, with PLS-SEM performed on a sample of 285 respondents from Bangladesh. The sample was gathered using a purposive sampling method. <strong>Findings/Results: </strong>Findings revealed that while relative advantage and perceived innovativeness positively affected perceived value and adoption intention, complexity negatively impacted perceived value and adoption intention. The findings also highlighted that attitude had a negative effect on perceived risk and intention to adopt robo-advisory services. The mediating impact of perceived value and risk in predicting the relationship between relative advantage, attitude and behavioral intention to adopt robo-advisory services was also identified. Moreover, the study revealed that perceived financial knowledge moderated the relationship between perceived value and behavioral intention. <strong>Conclusion: </strong>This study contributes to the existing body of literature by showing the intertwined roles of perceived value, perceived risk, and perceived financial knowledge in consumer acceptance of robo-advisory services. The study provides meaningful insights for financial institutions, and policymakers seeking to make robo-advisory services more reliable and acceptable to consumers through innovative service design and positioning.</p> Dewan Mehrab Ashrafi Copyright (c) 2023 Journal of Indonesian Economy and Business Mon, 11 Sep 2023 00:00:00 +0700