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"Penelitian mengenai first-mover advantage (FMA) umumnya meneliti pengaruh menjadi first-mover/early entrants terhadap market share, performa perusahaan, dan survivability. Peneliti merasa bahwa propensity to switch adalah indikator relevan dan berguna, yang belum diteliti mengenai kaitannya dengan FMA. Penelitian terhadap customer switching behavior dilakukan dengan menggabungkan aspek dari teori FMA untuk melihat apakah terdapat atribut yang dimiliki first-mover memiliki pengaruh terhadap switch intention untuk berpindah ke late entrants. Penelitian dilakukan dalam industri jasa dompet digital atau biasa disebut e-wallet di Indonesia, dengan pengguna layanan OVO sebagai objek penelitian. Menggunakan model dengan kerangka push-pull-mooring, enam varibel diuji pengaruhnya terhadap switch intention, yaitu perceived risk, switching cost, attitude to pioneer, transfer trust, economic benefit, dan transaction convenience. Berdasarkan data dari 263 responden dari lima kota di Indonesia, model diteliti dengan Partial Least Squared Structural Equation Modelling (PLS-SEM). Hasil analisis penelitian menemukan bahwa transfer trust, economic benefit, dan transaction convenience memiliki pengaruh signifikan terhadap switching intention. Penelitian tidak menemukan hubungan signifikan dari perceived risk, switching cost, dan attitude to pioneer. Penelitian ini menghasilkan implikasi praktis dan teoritis

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Researches on first-mover advantage (FMA) generally studies the influence of being a first-mover on indicators such as market share, company performance, and survivability. Limited attention has been paid to propensity to switch, that we deemed as a relevant and useful indicator of FMA. We conduct a research on customer switching behavior that incorporates aspect of FMA theory to test whether attributes of first mover has significant influence on customers’ switching intention toward the late entrants. Research was done in e-wallet market in Indonesia with OVO (first-mover in the market) users as the research subject. Within push-pull-mooring (PPM) framework, a model was developed to test the influence of six variables on switching intention. The six variables tested are: perceived risk, switching cost, attitude to pioneer, transfer trust, economic benefit, and transaction convenience. Based on data analysis of 263 respondents from five major cities in Indonesia, the model is tested using Partial Least Squared Structural Equation Modelling (PLS-SEM) method. The results of the analysis conclude that transfer trust, economic benefit, and transaction convenience positively influences customers’ switching intention. The research did not find that perceived risk, switching cost, and attitude to pioneer; to assert influence on switching intention. The results yield both practical and theoretical implications"

"Nilai tukar dipercaya memiliki pengaruh signifikan dalam perekonomian Indonesia. Dengan asumsi tersebut, maka pengetahuan mengenai kondisi makro ekonomi dan mikrostruktur pasar valas menjadi sangat penting bagi pembuat kebijakan. Penelitian ini, difokuskan pada analisis kondisi mikrostruktur pasar valas Indonesia dan dampaknya terhadap fluktuasi nilai tukar Rupiah. Namun, mengingat selama periode penelitian (2008-2013) terdapat beberapa potensi structural break, maka selain mengaplikasikan metode uji ko-integrasi, VECM, Granger Causality, dan Impulse Response Function, serta OLS untuk mengkonfirmasi hasil penelitian, juga akan digunakan metode Zivot-Andrews dan Gregory-Hansen, serta uji BLUE.Hasil penelitian menunjukan seluruh metode yang digunakan memberikan hasil yang konklusif, bahwa permintaan valas korporasi domestik, suplai valas investor asing dan sentiment regional Asia signifikan mempengaruhi volatilitas nilai tukar Rupiah, Lebih lanjut, permintaan valas korporasi domestik merupakan faktor dominan yang mendorong Rupiah terus terdepresiasi, sehingga sangat dibutuhkan bauran kebijakan untuk memperbaiki kondisi tersebut.

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The exchange rate is believed to have significant influence in Indonesia's economy. With that assumption, the knowledge of the macro-economic conditions and the microstructure of the foreign exchange market is becoming very important for policy makers. This study, focused on the analysis of the microstructure of foreign exchange market conditions in Indonesia and its impact on the fluctuation of the Rupiah exchange rate. However, given during the study period (2008-2013) there are several potential structural break, then in addition to applying the method of cointegration test, VECM, Granger Causality and Impulse Response Function, as well as OLS to confirm the results of the research, the method will also be used Zivot-Andrews and Gregory-Hansen, and BLUE test.

The results showed all the methods used provide the conclusive results, that the domestic corporate demand for US Dollar, the supply of US Dollar from foreign investors and Asian regional sentiment significantly affect the fluctuation of the Rupiah exchange rate. Furthermore, the demand of US Dollar from domestic corporations is the dominant factor driving the rupiah continued to depreciate, so that the policy mix is needed to improve the condition."

"Laporan ini mengulas analisis strategis ekspansi Ultra Violette ke pasar tabir surya di Tiongkok. Kesuksesan mereka akhir ini melalui pendekatan berorientasi Barat, Ultra Violette harus beradaptasi untuk menakhlukan uniknya dinamika pasar Tiongkok. Untuk menjamin kesuksesan dalam dalam bersaing dengan perusahaan multinasional dan lokal mereka harus menyelarakan diri dengan preferensi sosiodemografis lokal. Melalui analisa SWOT, Porter’s Five Forces, dan STP model, Ultra Violette perlu menyesuaikan citra merek dan peningkatan aksesibilitas melalui menghadirkan situs web lokal, keterlibatan aktif di platform media sosial Tiongkok, dan kemitraan dengan pemimpin pendapat berpengaruh. Langkah-langkah ini akan memfasilitasi mulusnya transisi masuk serta menangkap demografi yang diinginkan.

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This report delves into the strategic analysis of Ultra Violette's expansion into the Chinese sunscreen market. Despite recent success, the brand's Western-centric approach necessitates adaptation for China's unique market dynamics. To ensure a successful entry it must navigate fierce competition, both multinational and domestic, while aligning with local sociodemographic preferences. Utilizing Porter's Five Forces, SWOT analysis, and the STP model, we find the need for brand image adjustment and enhanced accessibility. Strategies includes localized web presence, active engagement on popular Chinese social media platforms, and partnerships with influential opinion leaders. These will facilitate a smooth market entry, capturing intended demographics. "

"Penelitian ini menggunakan kepercayaan (agama) sebagai salah satu faktor yang membuat pasar saham bereaksi. Salah satu bentuk kepercayaan yang digunakan dalam penelitian ini adalah berpuasa di bulan Ramadhan. Untuk membuktikan bahwa reaksi pasar yang ditimbulkan berasal dari kondisi psikologis investor saat berpuasa, maka penelitian ini membagi bulan Ramadhan menjadi tiga yaitu, Ramadhan per sepuluh hari, Ramadhan sepuluh hari terakhir (hari ganjil dan hari genap), dan Ramadhan hari ke-27. Dengan menggunakan IHSG sebagai proksi pasar dan sembilan sektor IHSS sebagai robustness check, didapatkan hasil bahwa selama periode pengamatan (2000-2013), pasar saham di Indonesia tidak bereaksi terhadap adanya bulan Ramadhan. Adapun IHSG yang bereaksi pada hari ke-27 Ramadhan tidak didukung oleh reaksi dari sembilan sektor IHSS yang digunakan dalam penelitian ini.

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This study uses a belief (religion) as one of the factors that make the stock market reacts. One form of trust used in this study are fasting in the month of Ramadan. To prove that the market reaction comes from a psychological condition investors feel during fasting, the month of Ramadan this study divides into three, namely, per ten days of Ramadan, the last ten days of Ramadan (the odd and even days), and the 27th day of Ramadan. By using stock index as a market proxy and the nine sectors of IHSS as a robustness check, it is showed that during the period of observation (2000-2013), Indonesia's stock market does not react to the presence of the month of Ramadan. The JCI which reacts on the 27th day of Ramadan is not supported by the reaction of the nine sectors IHSS used in this study."

"Industri layanan Video on Demand berbasis langganan saat ini merupakan salah satu pasar platform yang termasuk baru dan sedang berkembang pesat salah satunya di Indonesia. Persaingan antar platform yang dinamis dan bergantung pada strategi eksklusivitas menimbulkan pertanyaan akan strukrur persaingan dalam pasar serta faktor-faktor yang mempengaruhi loylaitas dan perilaku berlangganan konsumen salah satunya dalam hal multihoming di tengah fragmentasi konten. Penelitian ini menggunakan analisis deskriptif kuantitatif untuk menyelediki karakteristik struktur persaingan pasar SVOD di Indonesia serta kuantitatif inferensial terhadap 211 responden dengan analisis PLS-SEM pada model ekstensi Unified Theory of Acceptance and Use of Technology 2 (UTAUT 2) untuk meneliti loyalitas dan perilaku multihoming. Hasil Penelitian menunjukkan struktur persiangan pasar oligopoli Bertrand dengan produk yang terdiferensiasi. Sementara faktor yang berpengaruh terhadap loyalitas pelanggan SVOD yaitu content, price value, performance expectancy, habit, consumer satisfaction dan social influence. Eksklusivitas juga berpengaruh positif secara tidak langsung melalui variabel content. Selain itu, pelanggan SVOD Indonesia masih cenderung melakukan singlehoming, namun keinginannya melakukan multihoming dipengaruhi oleh faktor performance expectancy dan social influence.

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The Subscription-based Video on Demand (SVOD) industry is currently one of the fastest growing emerging platform market, including in Indonesia. The dynamic competition between platforms that relies on exclusivity strategy raises the question of the current market structure as well as the factors affecting consumer loyalty and subscribing behavior especially in the case of multihoming in the face of fragmented content. This research applies quantitative descriptive analysis to investigate SVOD market structure characteristics in Indonesia, while also analysing the loyalty and multihoming behavior of 211 respondents using extended UTAUT2 model with PLS-SEM approach. The result of the study suggests Bertrand oligopoly with differentiated product as the current SVOD market structure in Indonesia. Meanwhile, the factors affecting SVOD consumer loyalty includes content, price value, performance expectancy, habit, consumer satisfaction, as well as social influence. Exclusivity as part of product diferentiation strategy also affects continuance intention indirectly through content. In addition, based on the survey result, SVOD subscribers in Indonesia still tend to singlehome, but the intention to multihome is affected mainly by the performance expectancy of multiple subscription as well as social influence."

"This research examines whether there is any market overreaction in Indonesia Capital Market during period 2003 - 2005. Market overreaction in this research means the short term overreaction indicated by stocks price reversal that has the highest positive and negative returns in one trading day..."

"Dalam beberapa dekade belakangan ini, krisis dunia finansial sering terjadi dan banyak investor dan mengalami kerugian karena ketdakmampuan estimasi risiko pasar. Dalam karya ini, model risiko Value at Risk (VaR) di hitung dengan mengaplikasikan extreme value theory untuk menghasilkan estimasi yang dinamis dengan memodelkan residuals dan membandingkan performanya dengan pendekatan standard normal distribution yang konvensional. Lebih dari itu, estimasi dari Expected Shortfall (ES) yang dinamis juga dianalisa. Hasil menunjukan bahwa EVT-based VaR & ES valid dan dapat diandalkan untuk mengestimasi kuantil yang lebih tinggi, terutama amat baik dalam estimasi negative returns. Terlebih lagi, ada indikasi bahwa ada pola/hubungan tingkat kegagalan estimasi risiko pasar dengan kondisi ekonomi tahun tertentu. Namun hubungan ini berkurang seiring meningkatnya kuantil yang digunakan untuk estimasi.

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In the recent decades, financial crisis happened quite often and many investors incurred high losses due to unforeseen market risk estimation. In this work, a well-known Value at Risk (VaR) is generated by applying extreme value theory to create dynamic estimation by modeling the residual and comparing its performance with the ubiquitous standard normal distribution approach. In addition, an estimation of dynamic Expected Shortfall (ES) is also analyzed. The results indicate that EVT-based VaR & ES are reliable in estimating higher quantile, especially in estimating negative returns. Moreover, there is an indication of correlation between the failure rate of market risk estimation and economic environment in certain year but this correlation diminishes as the quantile estimation gets higher."