The Rational and Irrational Factors Underlying Property Buying Behavior

Property buying behavior is part of the development of financial behavior. This research will be focused on the buyers perspectives on residential and commercial properties in Bali Island of Indonesia. Rational and irrational factors are the factors underlying the property buying process. The Physical, Location, Environment, Finance factors were part of the rational; while Psychological (over-confidence, conservatism bias, information and familiarity, herd behavior, mental accounting, and loss aversion), Emotion, Intuitional, Socialization, Evaluation were the irrational part. The purpose of this study was, first, to determine the factors that distinguish buyers behavior toward purchasing a property; second, to determine the factors that distinguish buyers behavior between buyers intending to live in compared to those seeking to invest. The study sample consisted of individuals who are prospective buyers and those who have bought property in Bali. Data were analyzed using Discriminant Analysis. The results showed that only financial factor that had significant impact on buyer decisions. Furthermore, this study also showed that there were significant differences in factors between buyers intending to live in compared to those seeking to invest. The factor were psychology, emotion, intuitional, and evaluation

MODEL NILAI PASAR APARTEMEN DAN KESEDIAAN MEMBAYAR VIEW APARTEMEN DI SURABAYA

Penelitian ini bertujuan untuk menguji pengaruh faktor fisik dan lokasi terhadap nilai apartemen serta kesediaan membayar konsumen pada view apartemen. Variabel yang digunakan adalah view dari apartemen, fasilitas umum, fisik, dan lokasi. Pengambilan sampel dilakukan pada pemilik apartemen dan konsumen yang berminat membeli apartemen di Surabaya. Metode yang digunakan adalah regresi berganda dengan dummy variabel. Hasil penelitian menunjukkan view taman, view golf, jumlah kamar, luas, akses ke pusat perbelanjaan, rumah sakit, sekolah, dan ke tempat kerja berpengaruh pada nilai apartemen. Konsumen juga menunjukkan willingness to pay pada view apartemen dengan tingkat persentase kesediaan pada view laut dan kota sebesar 2,1% hingga 4%, view taman, kolam renang, dan gunung sebesar 1,1% hingga 2%, view pertanian sebesar 4,1% hingga 6%, dan view golf sebesar 4,1% hingga 8%

Investors Willingness to Pay in Commercial Property

The research objective is to determine willingness to pay investors in property commercial. After that, to find the influence factors of legal, economic, physical, and environmental to willingness to pay investors. Population of this study is investors who desire or have purchased commercial property especially from middle economic class. This analysis uses binomial logistic regression method. The result showed that percentage of willingness to pay by investor is 2.1% - 15%. The results showed that factors of legal, economic, physical, and environmental significant influence to willingness to pay investors in commercial property. The indicators ROI (Return on Investment), building finishing quality, view, and accessibility showed significant partially influence to willingness to pay investors

Effects of Subjective Norms, Perceived Behavioral Control, Perceived Risk, and Perceived Usefulness towards Intention to Use Credit Cards in Surabaya, Indonesia

Credit cards are becoming one of the most-used method of payment, both domestic and overseas. Consumers need not hassle with carrying cash to pay, hence reducing the risk of losing your money. Credit cards however, have their own drawback as it can be hacked, resulting in the breach of personal information by a third party, and abusing it to make transactions unknown to the card owner. This phenomenon is still in debate among credit card holders. As such, the purpose of this study is to test the effects of subjective norms, perceived behavioral control, perceived risk, and perceived usefulness towards the intention to use credit cards. Psychological factor and risk level becomes a challenge to card holders when they are making a transaction. Purposive sampling technique is used to gather data through questionnaire spread in both hardcopy and online to 100 credit card owners in Surabaya. Data is then processed using Partial Least Square (PLS). Analyzation result shows subjective norms, perceived behavioral control, and perceived usefulness significantly affects the intention to use credit cards, while perceived risk does not. The result of this study shows that by fully understanding both the advantages and disadvantages of credit cards, consumers can use it to make better financial planning, and not making transactions that leads to a certain lifestyle

The impact of fiavel constraints on travel intention

Rapid mass transportation has enabled people to travel from one place to another easily. How-ever, tourists have some constraints that affect their intention to travel, like interpersonal constraints (interac-tion factors or the relationship between individual� characteristics), intrapersonal constraints (individual psy-chological states and leisure preferences) and structural constraints (intervening factors between leisure preference and participation). The study is to find the impacts of the trilogy of constraints on travel intention. Factor regression analysis is used to analyze data of 159 respondents. The results of the study show interper-sonal constraints have positive but insignificant impact on travel intention; while intrapersonal and structural constraints have negative and significant impacts on travel intention. Thus, it is very useful for tourism and travel industries to accommodate tour packages to minimize the constraints. Keywords: interpersonal constraints, intrapersonal constraints, structural constraints, travel intentio

Opportunistic Manager and Capital Structure Decision of Property Companies in Indonesian Capital Market

Abstract. An opportunist manager in property companies tend to take opportunity for himself while aggrieving the owner over the decision. This study focuses on determining the effect of managerial opportunism on capital structure decisions within property companies. Control from blockholders and capital market conditions plays a role in controlling opportunistic managers towards funding decisions. The data collected covers 25 property companies from 2000-2016 listed on Indonesia Stock Exchange. The analysis of data uses logistic regression that is able to measure capital structure decision on dummy variable. The conclusion shows that managerial opportunism and capital market condition influence the decision of capital structure, while outside blockholders on the other hand gives no effect. The contribution of the study indicates that the role of managers in company is deeply influential, that every manager who acts opportunistically would degrade the company's performance and harms the shareholders as well as investors.Keywords: agency conflict; capital structure decision; managerial opportunism; outside blockholders; stock market conditionAbstrak. Peran manajer pada perusahaan properti yang opportunis cenderung mengambil kesempatan untuk dirinya, sehingga pemilik perusahaan dirugikan. Penelitian ini bertujuan untuk mengetahui pengaruh managerial opportunism di perusahaan sektor properti terhadap keputusan struktur modal. Kontrol dari outside blockholders dan stock market condition akan berperan dalam mengendalikan manajer yang oportunis dalam pengambilan keputusan pendanaan. Pengambilan data dimulai dari tahun 2000-2016 dan diperoleh 25 perusahaan sektor properti yang terdaftar di Bursa Efek Indonesia. Analisa data menggunakan regresi logistic yang mampu mengukur keputusan struktur modal dengan dummy variabel. Hasil penelitian menunjukkan managerial opportunism dan stock market condition berpengaruh terhadap keputusan struktur modal, sedangkan outside blockholders tidak berpengaruh terhadap keputusan pendanaan. Implikasi dari penelitian ini menunjukkan bahwa peran manajer dalam perusahaan adalah penting, sehingga setiap manajer yang bertindak oportunis akan menurunkan kinerja perusahaan dan merugikan pemegang saham serta investor.Kata kunci: konflik keagenan; keputusan struktur modal; managerial opportunism; outside blockholders; stock market conditio

The impact of travel constraints on travel intention

Rapid mass transportation has enabled people to travel from one place to another easily. However, tourists have some constraints that affect their intention to travel, like interpersonal constraints (interaction factors or the relationship between individual� characteristics), intrapersonal constraints (individual psychological states and leisure preferences) and structural constraints (intervening factors between leisure preference and partici-pation). The study is to find the impacts of the trilogy of constraints on travel intention. Factor regression analysis is used to analyze data of 159 respondents. The results of the study show interpersonal constraints have positive but insignificant impact on travel intention; while intrapersonal and structural constraints have negative and significant impacts on travel intention. Thus, it is very useful for tourism and travel industries to accommodate tour packages to minimize the constraints

The influence of cashless payment usage and protection against financial inclusion in micro and small enterprises in Kediri

This study examines the effect of the use of cashless payment system and the protection of cashless payment users on financial inclusion in MSEs in Kediri. The sample used in this study amounted to 400 respondents. Data were collected using an online questionnaire via Google Form. The data analysis method used in this study is PLS. The analysis test results show that there is a significant effect of using the cashless payment system on financial inclusion in MSEs (Micro and Small Enterprises) Kediri

The Influence of Financial Threat on Go-Jek Drivers' Willingness to Change Financial Behavior in Surabaya, Indonesia

Abstract. During the COVID-19 pandemic, Go-Jek drivers have experienced economic difficulties due to a decline in online orders from consumers. This decline and the fear of contracting the virus have prompted Go-Jek drivers to try various alternatives to be able to meet their daily necessities. This study aims to determine the effect of financial threat on the willingness to change financial behavior among Go-Jek drivers in Surabaya, Indonesia. Data was collected through a questionnaire distributed online using Google Forms, Instagram as well as offline, so that 100 respondents could be obtained. After the data was collected, it was processed through SEM-PLS to examine the relationship of economic hardship, debt, anxiety, and financial threat to willingness to change financial behavior. On the one hand, the results of the analysis show that debt and anxiety had a significant effect on financial threat, and that financial threat had a significant effect on the willingness to change financial behavior. On the other hand, they indicated that economic hardship did not have a significant effect on financial threat. Difficult financial conditions affected Go-Jek drivers' psychological conditions, and they had to be willing to change their financial behavior to survive; hence, psychological factors and financial knowledge have an influence on individuals in terms of their ability to make wise financial decisions.Keywords: Economic hardship, debt, anxiety, financial threat, willingness to change financial behaviorAbstrak. Selama pandemic COVID-19, driver Go-Jek mengalami kesulitan ekonomi disebabkan sulit mendapatkan pesanan secara online dari konsumen. Aktivitas pesanan online yang menurun serta ketakutan tertular virus mendorong driver Go-Jek untuk berusaha berbagai cara agar tetap dapat memenuhi kebutuhan hidupnya. Penelitian ini bertujuan untuk mengetahui pengaruh financial threat terhadap willingness to change financial behavior pada driver Go-Jek di Surabaya. Pengumpulan data dilakukan melalui kuesioner yang disebarkan secara online menggunakan google form, instagram serta offline, sehingga diperoleh 100 responden. Setelah data terkumpul, maka data diolah menggunakan SEM-PLS untuk menguji pengaruh economic hardship, debt, anxiety dan financial threat terhadap willingness to change financial behavior. Hasil analisis menunjukkan debt dan anxiety berpengaruh signifikan terhadap financial threat. Financial threat berpengaruh signifikan terhadap willingness to change financial behavior. Sebaliknya, economic hardship tidak berpengaruh terhadap financial threat. Kondisi keuangan yang sulit mempengaruhi kondisi psikologi driver Go-Jek, sehingga dibutuhkan kerelaan untuk mengubah perilaku keuangan agar tetap dapat bertahan, dimana faktor psikologi dan pengetahuan finansial memiliki pengaruh pada diri sendiri untuk dapat mengambil keputusan finansial dengan bijaksana.Katakunci: Economic hardship, debt, anxiety, financial threat, willingness to change financial behavio

The Impact of Perceived Financial Literacy and Parental Norm towards Money Management of Bidikmisi Student

This research examines the impact of perceived financial literacy and parental norms on money management. I collected the data by spreading online and printed questionnaires towards 100 respondents of students who got Bidikmisi scholarship from several universities in Indonesia. Then, the data was processed by SmartPLS. The result of the research shows that perceived financial literacy and parental norms significantly influence money management of students who got Bidikmisi scholarship. So, the role of parents in terms of educating the children about finance shapes the knowledge of the students to manage the scholarship to fulfill the needs of the college