bluuebunny/crossref_metadata_2025 huggingface dataset:
Screening of microscopic fungi isolated from charcoal and wooden samples for Protease production
Authors: Nivedha T. , Logeshwaran B. , Jeyavel Karthick P.
Published: April 2024

Proteases, otherwise called proteinases or proteolytic chemicals, have a place with a gathering of hydrolases. Microorganisms are the most well-known wellsprings of business chemicals because of their physiological and biochemical properties. Fungus from charcoal and wooden sample were secluded by sequential weakening agar plate method. The fungal disengages were to begin with evaluation of their capacity to create protease based on zone of clearance on skimmed milk agar plate. The segregates that gave excessive positive consequences in screening were identified as Aspergillus fumigatus, Fusarium species, Mucor recemossus, Penicillin citrium with the aid of inspecting the morphology and Lacto - phenol cotton blue (LPCB) staining procedure. Among those disconnects, Aspergillus fumigatus which constrained from charcoal floor, exhibited the maximum noteworthy protease movement confirming the use of the clean sector across the colony that is brooded at room temperature at a pH of round 7 for a hundred and twenty hours at 28 ˚C. Three fungal disengages chosen by beginning tests were exposed to extracellular protease creation in protease creation medium. The outcomes showed that three fungi could be utilized in the creation of protease compounds and in the upscale for modern creation.
Csp3-Csp2 Coupling of Isonitriles and (Hetero)arenes through a Photoredox-Catalyzed Double Decyanation Process
Authors: Martín María , Romero Rafael Martín , Portolani Chiara , Tortosa Mariola
Published: April 2024

Herein we demonstrate the ability of isonitriles to be used as alkyl radical precursors in a photoredox-catalyzed transformation involving selective C-N cleavage and Csp3-Csp2 bond formation. This protocol allows for the preparation of functionalized heteroarenes from readily available isonitriles through a decyanation process. The reaction is general for primary, secondary and terciary substrates, including amino acid derivatives and druglike molecules.
Water clustering modulates activity and enables hydrogenated product formation during carbon monoxide electroreduction in aprotic media
Authors: Fejzic Hannah , Kumar Ritesh , Gomes Reginaldo , He Lilin , Houser Theodore , Kim Jaemin , Molten Nora , Amanchukwu Chibueze
Published: April 2024

Water solvation plays a critical role in a wide range of electrochemical transformations, but its role is often convoluted since it is typically used as both solvent and proton source. Here, we experimentally control water speciation and activity using aprotic solvent media during carbon monoxide reduction reaction (CORR). Remarkably, we show that aprotic solvents that support microheterogeneous water-water clusters leads to significant amounts of CORR products (methane and ethylene) with a maximum ethylene Faradaic efficiency of 22% in acetonitrile (χH2O = 0.2); the first report of heterogeneous CORR to C2+ products using water as a proton source in an aprotic solvent. In contrast, microhomogeneous systems – where water integrates into the solvents’ intermolecular binding network and has lower activity – primarily support undesired hydrogen evolution reaction (HER). Insights gained expand our understanding of water activity and nonaqueous electrolyte design for other important transformations reactions beyond CO reduction such as CO2RR and HER.
Assessing Heavy Metal Contamination in Singed Goat Meat: Insights from Hot Water and Scrap Car Tire Singeing on Public Health and Environmental Safety
Authors: Gideon Mathew , Muazu Usman , Mamman Abakeyah James , Duniya Emmanuel Kambai
Published: April 2024

The study investigated the presence of heavy metals, including cadmium, copper, lead, zinc, and iron, drinking water, hot water singed goat meat (AS) and scrap car tire singed goat meat (AU) in Kakuri abattoir of Kaduna Metropolis. Cadmium was not detected in all the samples tested. Copper concentrations were 0.016 mg/kg in AS and 0.013 mg/kg in AU, indicating a 23% decrease. Lead was not detected in AS and 0.011 mg/kg in AU, with a substantial percentage increase. Zinc concentrations were 0.110 mg/kg in AS and 0.969 mg/kg in AU, displaying a significant 780.91% increase. Iron concentrations were 0.816 mg/kg in AS and 2.343 mg/kg in AU, showing a notable 187.25% increase. Although all concentrations remained below under the ECR RML= European Commission Regulation (2006) Recommended maximum limit (RML) for meat samples and WHO 2011 for Drinking Water, AU exceeded the limit for iron by 0.343 mg/kg. The elemental composition within car tires follows a distinct order: Zinc (Zn) > Copper (Cu) > Lead (Pb) > Cadmium (Cd), which is consistent with the concentration of these metals in the study. This research underscores the importance of employing appropriate techniques to balance regulatory compliance and industrial viability, ensuring the sustainable utilization of hides and skins while minimizing environmental and health risks.
Going Dewey: Reclassifying a Curriculum Materials Collection
Authors: Levesque Christopher , Jimmerson Bianca
Published: April 2024

Library staff developed a project to reclassify the Curriculum Materials Collection of a specialty library on the campus of a regional comprehensive university from its custom classification system derived from those developed during the 1960s and 1970s to Dewey Decimal Classification. While this system had the advantage of browsability for patrons who were familiar with previous use, its unusual nature made training patrons and staff challenging. The transition to Dewey is expected to ease training and use, enhance resource sharing, and allow student teachers to transfer their library skills to their new schools.
Enhancement of system performance using PeSche scheduling algorithm on multiprocessors
Authors: Sreenath M. , Vijaya P. A.
Published: April 2024

The scheduling techniques have been investigated by the job execution process in a system to maximize multiprocessor utilization. Dynamic Power Management (DPM) and Dynamic Voltage and Frequency Scaling (DVFS) represent two general strategies for lowering energy use. Performance enhanced Scheduling (PeSche) is a proposed scheduling algorithm designed for an optimal solution. CodeBlocks were utilized to run extensive simulations. In terms of computing performance (average waiting time and average turnaround time), the PeSche scheduling algorithm outperformed recently reported scheduling algorithms such as SJF, RR, FCFS, Priority, and SJF-LJF. The PeSche scheduling algorithm yielded better results by assigning priority in terms of energy-time ratio, programming running time, total energy, and total time than existing algorithms. In comparison to Minimum Energy Schedule (MES) and Slack Utilization for Reduced Energy (SURE), PeSche consumed less energy.
WORKING CAPITAL MANAGEMENT AND FINANCIAL PERFORMANCE: EVIDENCE FROM ALTERNATIVE ENERGY FIRMS IN THE UK
Authors: Ebire Kolawole , Onmonya Lucky , Ofikwu Christopher , Adegbenro Deborah
Published: April 2024

Purpose: This study examined the impact of working capital management on the financial performance of alternative energy in the UK from 2015 to 2022. The proxy used includes receivable turnover, payable turnover, inventory turnover and return on asset. The study employs an ex-post facto research design using panel data from the sampled firms' annual reports.
 
Methodology: The panel data were analysed using descriptive statistics, correlation matrix and panel regression analysis. The Hausman specification test showed that the fixed effect was more appropriate.
 
Findings and Conclusion: The findings show that receivable turnover has a significant positive impact on the return on assets of the alternative firm in the UK. In addition, payable turnover has a significant negative effect on return on assets, while the findings on inventory turnover have an insignificant impact on return on assets. These findings imply that working capital management significantly affects the financial performance of alternative energy firms in the UK. Based on the conclusion, the study recommends that oil and gas firms increase their net cash flow from operating activities to increase their financial performance.
 
Originality/Value: Globally, it is acknowledged that many companies fail due to poor working capital management. This study contributes to knowledge by examining the effect of working capital management on the financial performance of alternative energy firms in line with sustainable development goals in achieving a sustainable UK economy. This has not been previously studied.
SUSTAINABILITY-ORIENTED INNOVATION AND CSR: A QUANTITATIVE RESEARCH IN BRAZILIAN MULTINATIONALS
Authors: Pinto Karen Esteves Fernandes , Oliveira Junior Moacir Miranda , Fernandes Carolina Cristina
Published: April 2024

Objective: The purpose of this study is to analyze the relationship between Sustainability-Oriented Innovation (SOI) and Corporate Social Responsibility (CSR) in Brazilian multinationals.
 
Theoretical Framework: The theoretical framework provides relevant information on CSR and SOI, which forms the basis for the development of hypotheses.
 
Method: To collect data, an e-survey was conducted with Brazilian multinationals operating in various industries and segments, resulting in 60 valid questionnaires. The data was analyzed through multivariate analysis, employing canonical correlation and multiple linear regression procedures.
 
Results and Discussion: The results of the multivariate analysis empirically supported five hypotheses (h1, h2, h3, h4, and h5). However, the results did not support the hypothesis that predicted a positive correlation between SOI practices and CSR as a differentiation strategy.
 
Research Implications: The practical and theoretical implications of this research are significant, particularly in shedding light on emerging market multinationals, with a specific focus on Brazilian companies. By specifically examining Brazilian multinationals, this research fills a crucial gap in the literature, offering insights into the unique challenges and opportunities faced by firms from an emerging market like Brazil.
 
Originality/Value: The findings of this study provide valuable guidance for Brazilian multinational corporations seeking to enhance their CSR initiatives and SOI practices. By understanding the relationships between CSR, SOI, and other key variables, these companies can develop more effective strategies to navigate global markets while simultaneously addressing social and environmental concerns.
The Influence of Gender and Training Sector on the ICT Competency of Pre-Service Teachers in Vietnam: Using the UNESCO ICT Competency Framework
Authors: Thao Trinh Thi Phuong , Thi-Nga Hoang , Hang Nguyen Thi Thu , Minh Thai Doan Thi , Linh Ha Thi Kim , Hong Nhung Nguyen Do , Huong Giang Nguyen Do , Dinh Ngo Van
Published: April 2024

Information and communication technology (ICT) is a powerful educational change and reform tool. Teachers are a direct subject in promoting the application of information technology (IT), and the ability to integrate technology into teaching affects the application of IT in teaching. Integrating ICT into education requires teachers to be competent in using ICT. In other words, teachers are required to have sufficient ICT competence to use ICT for education. Faced with this requirement, teacher training schools have made positive changes to improve the ICT capacity of pedagogy students and prepare graduates to perform their duties in the context of digital transformation in education today. This study collected information on pre-service teachers’ competency in using ICT as future teachers in Vietnam. Using the ICT competency framework of UNESCO, the research surveyed 1698 fourth year teaching students (pre-service teachers) from 10 provinces in 3 regions of Vietnam. The results indicate that although pre-service teachers in Vietnam are well educated on ICT policy issues in education, for the issue of ICT exploitation to support curriculum implementation and assessment, they still need ICT skills to support effective teaching and learning methods. In addition, there are significant differences in gender and training specialization in some aspects, such as the application of digital skills and the use of ICT in organization and administration. These results are the basis for in-depth research into establishing influencing factors and measures to improve the ICT application competency of pre-service teachers, contributing to ensuring the quality of education in Vietnam.
Strengthening Students' Responsible Character through Civic Education Learning: An Action Research in Indonesia
Authors: Sartika Rika , Maftuh Bunyamin , Nurdin Encep Syarief , Budimansyah Dasim
Published: April 2024

Character education is one of the fundamental pillars of education because education not only aims to develop specific skills and knowledge but also fosters certain attitudes, norms, and values in students. One of the values that needs to be cultivated in students is the value of responsibility. The purpose of this study is to investigate learning strategies that strengthen and develop responsibility in civic education classes. To accomplish the objective, action research method was employed. In total, 120 students (70 males and 50 females) from one of popular universities in West Java, Indonesia, who were from various regions, participated in the study. The three steps carried out in this action research are the first, pre-action analysis, which is carried out to map initial conditions related to the values of responsibility. Second, implementation, this stage is an action effort given to achieve what is desired, accompanied by reflection. and third; evaluation , namely assessing the extent of success of the given action. This study presents five learning steps in developing students' responsibility through civic education learning. These five steps consist of conceptualization, identification, internalization, actualization, and evaluation. This study concludes that these five steps significantly increased students' responsibility in civic education classes by 62.50%. this study contributes by providing educators with didactic guidance in developing students’ responsibility through civics education. The main contribution of this research is to present practical methodological guidelines for academics and practitioners in instilling the values of responsibility in the civic education learning process.
Typical Challenges Faced by Sub-Urban State Primary Schools Implementing Inclusive Education in Indonesia
Authors: Sunardi Sunardi , Prakosha Donni , Sugini Sugini , Anwar Mohammad , Martika Tias
Published: April 2024

The aim of this study was to determine the common obstacles that Indonesian state primary schools have in attempting to provide inclusive education since there are gaps between sub-urban with urban areas. The objects were five state primary schools in one supervisory area in Central Java, one of which was the appointed inclusive school in the area. The four focuses of the research were the physical facilities, teacher perceptions, peer perceptions, and parents’ perceptions. Questionnaires were used to collect data from the headmasters, teachers, peers and parents of children with special needs. The results indicated that peers and parents of children with disabilities tended to have positive attitudes towards children with disabilities. Teachers had positive attitudes towards children with disabilities, but not to inclusive education. Another significant challenge was the limited physical school facilities, including building accessibility. The implication of these findings is that the development of inclusive education in sub-urban areas in Indonesia needs to pay attention to the physical facilities and teacher training.
Optimal Portfolio Formation with Combination of LQ45 Stocks and Corporate Bonds
Authors: Soraya Arditya
Published: April 2024

The objective of investors to invest their money was to maximize return, although they were subject to constraints, primarily risk, so this study aims to provide an alternative to the formation of portfolios and corporate bonds to obtain optimal returns with acceptable risk. The alternative model is to combine Graham's stock selection model with the formation of an optimal portfolio model, namely the Markowitz model. The results of the selection using the Graham model of defensive investors and aggressive investors are 9 and 13 stocks, respectively, of the 45 stocks listed on the LQ45 index. From the selected stocks, the optimal portfolio is formed using the Markowitz model. The results show that the Markowitz model optimizing portfolio provides better performance (reward to variability ratio) than the LQ45 portfolio index with a yield difference of 13.68 – 20.24% per year. Furthermore, the selection of corporate bonds for the optimal portfolio resulted in 8 corporate bonds with a portion of each bond, and this portfolio can generate rates of 8.88% per annum.JEL: G10, G11, G12
Exchange Rate Volatility and Economic Growth: Managed Floating and Free-Floating Regime
Authors: Utomo Felicia Grace Ratnasari , Saadah Siti
Published: April 2024

Indonesia's economy has been in its worst period. At that time, economic growth was below zero percent. One of the reasons is the high volatility of exchange rates in 1997-1998 when the exchange rate regime was transferred from managed floating to free-floating. Now, the high volatility of the exchange rate is feared to have an impact on the economy, especially economic growth, because it is one of the main focuses of the government's current achievements. Therefore, this study aims to see whether volatility impacts Indonesia's economic growth, especially in two different exchange rate regimes, managed floating and free-floating. This empirical research is based on quarterly data for 1994 - 2020, using the estimation method of Generalized Autoregressive Conditional Heteroskedasticity (GARCH) and Vector Autoregressive Model (VAR). The result shows that exchange rate volatility has a significant negative effect on economic growth, while the exchange rate regime moderates the impact of exchange rate volatility on economic growth.
Factors involved in adopting mobile banking for Sharia Banking Sector using UTAUT 2
Authors: Yuliana Putri Dewi , Aprianingsih Atik
Published: April 2024

The technology development and covid 19 that hit in 2020 have triggered an increase in digital transactions in Indonesia in recent years. The condition of the Indonesian people, which is dominated by the productive age classified as digital savvy, further strengthens the opportunities and challenges for digital transformation in almost all industrial fields. This study was aimed at determining the important factors for consumers in behavioral intentions to adopt mobile banking. The model examining the factors in this study used constructs in the unified technology acceptance user technology (UTAUT) extension theory, UTAUT 2. The other constructs were perceived value for non-monetary value and perceived credibility, which was an additional construct to predict behavioral intentions. This study used a questionnaire involving 305 respondents randomly as a cross-generational sampling in Indonesia. Structural Equation Method (SEM) and smartPls 3.0 software were used to analyze the data. It was found that perceived value was the strongest predictor of an individual's behavioral intention to adopt mobile banking. Furthermore, performance expectancy, facilitating conditions, habit and perceived credibility (except effort expectancy, social influence and hedonic motivation) were also significant predictors of consumer behavioral intentions. This research is expected to shed insight into the adoption of mobile banking and can help the banking industry, in particular Sharia banking in Indonesia, in launching a strategy to increase market share through digitalization of banking, especially mobile banking services.
Coal Prices and Foreign Ownership on the Capital Structure of Indonesian Coal Companies
Authors: Pratiwi Hanum Amalia Budhi , Achsani Noer Azam , Irawan Toni
Published: April 2024

This paper investigated the effect of coal prices and foreign ownership on the capital structure of coal companies in the Indonesian stock exchange. This study used debt to equity ratio (DER) to proxy capital structure and control variables, i.e., size, liquidity, and profitability. This study employed the statistic descriptive analysis and regression analysis of panel data and covered quarter data of 23 coal companies listed in the Indonesian stock exchange in a 3-year time horizon (2018-2020). This study concludes that ten out of 23 coal companies have more than 100% DER. Based on the sources of liabilities, debt originating from third parties is the primary source of debt for coal companies listed on the IDX in 2018-2020. The next order of sources of debt in a row is bank loans, debts from related parties, lease payables, bonds, and dividends. The result showed that ten out of 23 companies have a more than 100% capital structure value. The panel data regression analysis showed that capital structure significantly impacts coal prices, foreign ownership, size, liquidity, and profitability. As one of the main coal exporters, Indonesia has a good bargaining position in the international market. An investor can use the movement of coal prices as one of the criteria for deciding to invest in this industry.
The Mediating Effect of Debt Equity Ratio on The Effect of Current Ratio, Return on Equity and Total Asset Turnover on Price to Book Value
Authors: Colline Fredella
Published: April 2024

The research conducted here has two aims: firstly, it endeavors to examine the impacts of liquidity, Profitability, and activity ratio on capital structure as well as the firm value; and, secondly, it attempts to examine the role of capital structure as a mediator. We conduct the test with multiple regression and path analysis over 2020 – 2021 quarterly, with Eviews 8 software. Some companies in the technology sector are taken as samples. Besides, we also analyze financial statement data from Indonesia Stock Exchange. The result indicates Current Ratio, Return on Equity, Debt Equity Ratio significantly affect the Price Book Value, while Total Asset Turnover does not. The Current Ratio does not significantly affect the Debt Equity Ratio, while Total Asset Turnover and Return on Equity have significant negative effects. Path Analysis has confirmed that the Debt Equity Ratio cannot mediate the effect of the Current Ratio and Return on Equity on Price Book Value. However, it fully mediates the effect of Total Asset Turnover on Price Book Value. This finding of the present study supports the pecking order and static theory. The novelty of this research is that there is still little research on debt equity ratio as a mediator. There is no research especially on the technology sector, using those factors to determine the firm value. This research also uses the latest data of financial statements.
Can Social Responsible Investment and Gold be a Good Diversifier for Indonesia Sharia Investors?
Authors: Agustin Isnaini Nuzula
Published: April 2024

The COVID-19 Pandemic persists after the global financial crisis resumption of financial turbulence. This vulnerabilities phenomenon compelled investors to restructure their portfolio by implementing a well-diversification strategy. The Sharia Investment and Environment Social Governance (ESG) Investment are two types of investment that enormously attract investors' interest, partly due to their resilience in times of crisis. This study examines the market integration between Sharia stocks, ESG stocks, and Gold and empirically compares its integration in the period before and during the covid-19 Pandemic. The data used were daily closing prices on two Indonesia Sharia indices, ESG index and Gold price from January 2, 2015, to August 31, 2021. Through Johansen Cointegration, the results ascertain the cointegration among variables, implying limited diversification opportunities among assets in the long run. Vector Error Correction Model found the significant short-term relationship between the Sharia stock index and ESG investment in the pre-pandemic period but turned out to be insignificant during the Pandemic. Further, the finding confirms the Gold's ability as a good diversifier for both assets in the pre-pandemic period. However, during the Pandemic, it suggests that gold can indeed provide diversification gains only for the ESG index. Our results have imperative implications about the asset allocation under portfolio optimization.
Stock Indices Forecasting: A Comparison of Holt-Winters Seasonality and Dynamic Harmonic Regression
Authors: Ponziani Regi Muzio
Published: April 2024

This research aims to investigate the performance of various time-series forecasting approaches in predicting stock indices in Indonesia. This research compared the performance of additive Holt-Winters seasonality, multiplicative Holt-Winters seasonality, and Dynamic Harmonic regression. The stock indices being forecast are SRI-KEHATI, LQ45, and IHSG. Forecasting SRI-KEHATI index is the novelty in this research. SRI-KEHATI index contains all the companies that comply with the requirements regarding sustainability and concerns for the environmental impact of the companies operations. Decompositions of SRI-KEHATI, LQ45, and IHSG reveal that the trend and seasonality components are all existent within all indices. The results showed that Holt-Winters models are superior to Dynamic Harmonic Regression. Multiplicative Holt-Winters seasonality forecast best for SRI-KEHATI and LQ45. Additive Holt-Winters excelled at predicting IHSG. Although Dynamic Harmonic Regression had less accuracy, its performance was still very outstanding since its mean average percentage errors never exceeded 8%. The result signifies the excellence of the Holt-Winters model for predicting stock indices and also shows that Dynamic Harmonic Regression also scores high in accuracy. Both models validate the time variance notion of the stock market proposed by Boudreaux (1995). The practical benefit for Investors is that this research enables investors to forecast the stock indices in the future and make adjustments in their trading strategy thereof.
Implementation of Service Recovery on Behavioral Intentions through Perceived Value in Banking Services During the Covid 19 Pandemic
Authors: Hidayatullah Syarif , Patalo Ryan Gerry , Sulistyorini Ery
Published: April 2024

Banking is a financial intermediary or liaison institution whose activities are aimed at collecting funds from the wider community (clients) and distributing them to people in need of funds. So that customer needs can be met and bank growth and bank financing can be increased. The Covid-19 virus pandemic has affected several activities, including the banking sector. Therefore, in order for the banking sector to continue to operate and survive in the midst of the corona virus pandemic, banks must be able to mitigate risks appropriately and carefully, as well as employ a variety of innovative strategies in the current uncertainty. Objectives of this study: 1. To identify and analyze the impact of partial and simultaneous service recovery and perceived value on behavioral intentions at BNI Malang, 2. To identify and analyze the indirect impact of service recovery on behavioral intention through perceived value in BNI Malang. The type of research used is explanatory research. With the study site at BNI Malang, the study targets are people who have been at BNI Malang. The population in this study was 100 respondents. The data analysis methodology used quantitative descriptive analysis and path analysis.
Leverage, Product Diversification, and Performance of Life Insurance Companies in Indonesia
Authors: Septina Fanny
Published: April 2024

The insurance sector is often faced with dynamic economic changes. Product adjustments to new policies and the availability of funding for the company's operational activities are crucial. This study aims to observe the effect of leverage on the financial performance of life insurance companies and examine the moderation of product diversification on the relationship of leverage to the financial performance of life insurance companies. The study also aims to confirm the pecking-order theory related leverage funding and the synergistic- effect theory about diversification product strategy. Firm-size variables and dummy periods are used as control variables. Leverage is proxied by the ratio of total debt to total equity, product diversification uses the Herfindahl index, and financial performance is proxied by return on equity. The research sample are 25 life insurance companies in Indonesia registered with the Financial Services Authority (OJK) and have published financial reports for the period of 2016 to 2020. The data analysis method uses panel regression analysis with the estimation approach of the Chow Test, the Hausman Test, the Lagrange Multiplier Test, and the moderated regression analysis. The results show that leverage has a significant negative effect on the performance of life insurance companies, and product diversification significantly strengthens the effect of leverage on the performance of life insurance companies. Firm size has a significant positive effect, while the dummy period variable has no significant effect on the performance of life insurance companies. Company with high or low leverage, both must be able to see the potential and current market risks then adjust policies. For both creditors and investor can take advantage of information to provide funding and investment on the relationship between the use of leverage and the life insurance company's product diversification strategy. Finally, the regulatory authorities of the insurance sector present as controllers of life insurance companies in serving their customers.JEL: G2, G22, M11
Comparison of Microeconomics and Stock Returns Relationships in Financial Sector in 2019 and 2020
Authors: Aurelia Mei Siang Jemima , Nugraha Edwin Setiawan
Published: April 2024

Stock return is crucial to analyze before making investment since gaining return is the main objective. The analyzing can implement fundamental analysis which involves microeconomics variables of company. According to IDX, financial sector generates the highest return, unfortunately it is still volatile. Moreover, since COVID-19 pandemic, economic situation becomes unstable. This research aims to analyze and compare partial and simultaneous relationship of microeconomics variables (Book Value Per Share, Price to Book Value, Price Earning Ratio, Debt to Equity Ratio, Net Profit Margin and Debt Ratio) with stock return in financial sector main board companies in 2019 (before COVID-19 pandemic) and 2020 (during COVID-19 pandemic). Multiple linear regression is implemented and resulting that in 2019, only Price to Book Value, Price Earning Ratio and Net Profit Margin have significant relationship with stock return. In 2020, only Price Earning Ratio and Debt to Equity Ratio have significant relationship with stock return. For both years, simultaneous relationship between all microeconomics variables and stock return are found. The result can be used for investor and main board financial sector companies.
Financial Integration, Technology Transfer, Labor Productivity Growth and Economic Growth on Pre-and-During COVID-19 Crisis: Evidence from G20 Countries
Authors: Fahri Luki Okta , Imamah Nur , Darmawan Ari
Published: April 2024

This study investigates the role of financial integration, technology transfer, and labor productivity growth in economic growth pre-and-during the COVID-19 pandemic crisis. The data collected is panel data from 20 countries of the G20 in the period 2018Q4–2021Q1. By using fixed-effects regression, the results showed that foreign direct investment had a significant effect on economic growth during the COVID-19 crisis, while foreign portfolio investment did not. Furthermore, labor productivity growth has been proven to play a role in moderating foreign portfolio investment, foreign direct investment, and technology transfer in pre-crisis economic growth. However, entering into the COVID-19 crisis stage, labor productivity growth is no longer proven to be moderating, due to a major lockdown policy that led to a decline in labor productivity. This study contributes to helping policymakers with various considerations and sets realistic expectations about the role of financial integration and technology transfer in the recovery of economic growth due to the global crisis.
Digital Banking Balanced Scorecard
Authors: Frederica Diana , Augustine Yvonne
Published: April 2024

The study aims to find reliable banking performance indicators by developing the concept of a balanced scorecard. The research employs the method of literature review and measurement quality testing through validity and reliability tests using SmartPLS 3.0. The study found 21 indicators known as Digital Banking Balanced Scorecard. The theoretical implication of this research is that the development of the concept of balanced scorecard has four perspectives and 21 indicators. The contribution of this research is that the banks may take the Digital Banking Balanced Scorecard measurement to assess their performance, especially for those that have implemented banking digitalization. To ensure continuity of bank’s operation, the management needs to perform an analysis on performance required for a strategic decision making. The accurate measurement or reliable indicator for banking performance is, therefore, needed, so that the company management can make decision on the basis of the company's real conditions in the current digitalization era.
The Determinants of Financial Distress in Emerging Country: Empirical Evidence from Indonesia
Authors: Rachman Rathria Arrina
Published: April 2024

This research strives to foresee corporate financial distress by applying three different perspectives that cover firms’ internal and external conditions namely accounting-based, market-based and macroeconomic models. Financially distressed and non-distressed corporations are analyzed using binomial logistic regression. Seven different models are employed to observe the effects of ten independent variables on financial distress, as well as to predict more accurately the possibility of firms defaulting. By exploring 257 public corporations listed on the Indonesia Stock Exchange over 10 years and utilizing 2,570 observations, the main finding suggests that when the accounting, market, and macroeconomic models are combined, it provides a better understanding of corporate failure than either model. Moreover, the results also indicate five factors that significantly determine the likelihood of a company’s financial distress: liquidity, profitability, asset productivity, market capitalization, and leverage. Accordingly, companies should keep a close watch on their accounting ratios and market indicators carefully to avoid bankruptcy. This research contributes to the finance and economic literature by paving the way for the development of an alternative perspective for predicting corporate failure in emerging markets.
COVID-19 Pandemic, Dividend Policy, and Stock Market Reaction: Evidence from the Manufacturing Companies in Indonesia
Authors: Hartono Powell Gian , Raya Muhammad Yaasiin
Published: April 2024

This study aimed to examine the impact of the COVID-19 crisis on the dividend policy of Indonesia’s manufacturing companies and the stock market reaction to this corporate action in 2020. The purposive sampling technique was used to select 87 manufacturing companies to examine the impact of the crisis on dividend policy from 2014 to 2020, while the market reaction was tested on 42 companies. Data were analyzed using the dynamic panel data regression with the SYS-GMM estimation method, as well as the one sample T-test and the Wilcoxon sign-ranked tests. The findings showed that Indonesia’s manufacturing companies formulated a positive dividend policy during the COVID-19 pandemic. The stock market reaction to this corporate action was weak, meaning it became sluggish during a crisis. These results indicate that the effort to signal the market positively was ineffective. Therefore, companies must formulate corporate actions or other managerial policies to reduce capital market sluggishness in crisis. They should also implement an optimal dividend policy to increase their value to contribute to the Indonesian economy, specifically in crisis conditions, such as the COVID-19 pandemic.
CAN FOREIGN OWNERSHIP MODERATE THE RELATIONSHIP CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE?
Authors: Fibriyanti Yenni Vera , Widagdo Ari Kuncara
Published: April 2024

COVID-19 is a global health pandemic that is currently sweeping the world and had huge impact on the world economy. Currently, all countries, including Indonesia, are paying attention to how the development of this pandemic is, as evidenced by the many media that inform the development of the pandemic and the response given by the government in overcoming it. This study was conducted with the aim of investigating how the influence provided by government information and policies related to COVID-19 on returns and stock volatility in Indonesia. Empirical findings from this study show that information on the COVID-19 pandemic (GSVI Covid), the number of positive cases, death rates, and the government tightening index during the pandemic, seem to have a negative effect on stock returns and vice versa have a positive effect on volatility. Meanwhile, with the information on the COVID-19 vaccine (GSVI Vaksin), fiscal policy in the form of growth in government spending, as well as monetary policy in the form of growth in the money supply is said to have a positive influence on stock returns, as well as reduce excessive volatility in the market.
The Islamic financial literacy and market discipline: Does gender have the moderating role?
Authors: Widyastuti Umi , Soma Abdul Mukti
Published: April 2024

This study contributes to examine the effect of Islamic financial literacy on market discipline and to confirm whether gender can employ as moderating variable in this model. The primary data was collected from 93 academicians who invest in Sharia mutual funds. Based on the data analysis, this study proved that there is a positive impact of Islamic financial literacy on investment’s withdrawal behaviour which indicated the market discipline. Moreover, a multi group analysis results that Islamic financial literacy has higher influence for female Sharia mutual fund’s investors in withdrawing their investments. But, the influence of Islamic financial literacy on market discipline among gender is not significantly different, therefore gender could not employ as a moderating variable in this model.JEL: G2, G23
Stock Selection and Market Timing Ability to Increase Indonesia's Equity Mutual Fund Performance
Authors: Sihombing Pardomuan , Manurung Arifin Hasudungan , Zakchona Elia
Published: April 2024

This study investigates the effect of stock selection, market timing, and fund size on the mutual fund’s performance with Covid-19 as a moderating variable. The sample data is limited to the listed conventional mutual funds supervised by the financial service authorization from 2014 to 2021, denominated in Rupiah currency, have a complete report, and have more than Rp 350 billion in fund equities. The sample data implements twenty-eight of the listed conventional mutual funds and is examined by a random method of Panel data multi-regression with moderated regression analysis (MRA). The result shows that market timing positively affects, and Covid-19 can enhance the effect of stock selection on the mutual fund’s performance. Meanwhile, stock selection, fund size, and Covid-19 do not affect the mutual fund’s performance. Covid-19 cannot moderate the effect of market timing and fund size on the mutual fund’s performance. Fund managers highlight market timing as a crucial indicator of obtaining more returns, and Covid-19 is the best moment to select and collect potential stock at affordable prices and trade them to get more returns after the crisis. DOI: 10.26905/jkdp.v27i4.11047
The approach to developing Ireland’s first national health protection strategy and lessons learnt, December 2021 to October 2022
Authors: Kelly Ciara , Gallagher Joan , Odewumi Lola , Conway Robert , Black Mary E , Concannon Kristin , Marron Louise , Doherty Lorraine
Published: April 2024

The COVID-19 pandemic highlighted the importance of strengthening health protection worldwide. To address this as a public health priority in Ireland, between December 2021 and October 2022 the first national Health Protection Strategy (2022–2027) for the Irish Health Service Executive (HSE) was developed. We describe the approach taken to develop a first national health protection strategy for Ireland, and highlight the key lessons learned. Key steps in strategy formation included detailed stakeholder analysis, exploration of the context for the strategy and development of a comprehensive consultation plan. Two stakeholder consultation workshops were held. The first focused on defining strategic vision, aim and objectives, the second verified objectives and identified enablers. A subsequent e-consultation invited feedback from wider stakeholders. The published strategy outlines 10 strategic objectives and 11 enablers. Key lessons identified from the strategy development process include the importance of clear leadership and oversight, the value of identifying the context for change, ensuring adequate consultation planning, taking a multidisciplinary approach with strong stakeholder engagement and the need to maintain a strategic perspective. Lessons from our experience can support colleagues internationally to strategically set out their priorities for health protection beyond COVID-19.
Outbreak of carbapenemase-producing Citrobacter farmeri in an intensive care haematology department linked to a persistent wastewater reservoir in one hospital room, France, 2019 to 2022
Authors: Regad Marie , Lizon Julie , Alauzet Corentine , Roth-Guepin Gabrielle , Bonmati Caroline , Pagliuca Simona , Lozniewski Alain , Florentin Arnaud
Published: April 2024

In 2019–2022, a prolonged outbreak of oxacillinase (OXA)-48-producing Citrobacter farmeri due to a persistent environmental contamination, occurred in our haematology intensive care unit. In April 2019, we isolated OXA-48-producing C. farmeri from rectal samples of two patients in weekly screenings. The cases had stayed in the same hospital room but 4 months apart. We screened five patients who had stayed in this room between the two cases and identified a third case. Over the following 3 years, five other cases were detected, the last case in September 2022. In total, eight cases were detected: seven colonised with the bacterium and one infected with a lethal outcome. All cases stayed in the same hospital room. We detected OXA-48-producing C. farmeri from a shower, washbasin drains and wastewater drainage of the bathroom of the hospital room. Molecular typing confirmed that all C. farmeri isolates from the environment and the cases were indistinguishable. Despite bundle measures to control the outbreak, the bacterium persisted in the system, which resulted in transmission to new patients. A design defect in the placement of wastewater drains contributed to the persistence and proliferation of the bacterium. The room was closed after the last case and the bathroom rebuilt.
Preserving Harmony in Bali: An Environmental Philosophy Approach to Tackling Over-tourism
Authors: Saputro Bagus Adi , Adha Muhammad , Ulmi Siti Azri
Published: April 2024

Bali, a beautiful island in the Indonesian archipelago, has been a centre of world tourism for the last few decades. However, the influx of tourists has contributed significantly to the island's economic development; the phenomenon of 'over-tourism' has taken hold and has been in the spotlight in recent years. Over-tourism is characterized by several negative impacts, including environmental degradation, social disruption, and economic instability. This paper attempts to delve deeper into addressing that issue by using ecological epistemology as a foundation for understanding the interconnectedness of the natural and social worlds. It can be used to understand how over-tourism affects the environment, the local community, and the tourism industry. In addition, cybernetic epistemology is a framework for understanding how systems can rethink and adapt to changes. It can be used to understand how the tourism industry can be managed more sustainably. Therefore, in this context, ecological epistemology and cybernetic epistemology can be used to understand and address the issue of over-tourism in Bali. Furthermore, they offer different perspectives and methods that can be used to complement each other. By using both approaches, we can develop more comprehensive and effective solutions to this complex problem, especially in identifying the relevance of Tri Hita Karana's local wisdom in dealing with over-tourism in Bali. Tri Hita Karana is a Balinese philosophy that emphasizes the harmony between humans, nature, and the gods. It could be argued that this local wisdom could be used to help address the challenges of over-tourism in Bali. Another point to consider through cybernetic epistemology is that we can also analyse the obligation of moral beings in protecting the environment, whether Tri Hita Karana is still relevant in over-tourism, how the epistemology of the environment becomes possible in Tri Hita Karana, and how moral action can be done to create harmonisation.
Ethical Review of Relation Between Formal and Informal Leaders in Building National Resilience in Bondowoso Regency, East Java
Authors: Sukri Ridwan Ahmad , Effendhy Syafiq
Published: April 2024

What is meant by national resilience? National resilience is

a dynamic condition of all aspects of national life that contains tenacity,

strength, and toughness with the ability to develop national strength to face

and overcome all threats, challenges, obstacles, and disturbances, both coming

from within and outside the country, directly or indirectly. Endangering the

integrity, identity, and survival of the nation, and the struggle to achieve

national goals. National resilience is a fundamental need that must be pursued

so that a nation continues to exist. Indonesia's national security has

experienced disruption in the form of the Covid-19 pandemic. Bondowoso Regency

responded in various ways to face and anticipate possible obstacles in the

future. Of course, these efforts cannot be separated from the roles of leaders.

Leaders play an important role in mobilizing and optimizing the resilience

potential that exists in society. In Bondowoso, where the majority of the

population is Madurese, there are at least two types of leaders: formal and

informal. Formal and informal leaders in Bondowoso Regency actually have good

relations with each other, synergize, and collaborate. Like Madurese society in

general, the Bondowoso people have local wisdom in the form of a hierarchy of

leaders that must be obeyed, and formal leaders such as the government are in

fourth place. This article focuses on an ethical review of the relationship

between formal and informal leaders in building strong community resilience. The

model of good relations between leaders in society can be a model for building

national resilience that can be imitated by other ethnic groups in Indonesia,

because in various ethnic groups in Indonesia, there are two types of leaders:

formal and informal.