Impact of Financial Performance and Economic Value Added (EVA) On Stock Returns before and after Covid-19 Pandemic: A Case Study of Telecommunications Companies Listed on IDX

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This research aims to investigate the impact of financial performance and Economic Value Added (EVA) on stock returns of telecommunication companies listed in the Indonesia Stock Exchange before and after the COVID-19 pandemic. Financial performance in this research is proxied by Return on Assets (ROA), Return on Equity (ROE), Price-Earnings Ratio (PER), Debt-to-Equity Ratio (DER), Net Profit Margin (NPM), and Earnings per Share (EPS). The study employs a purposive sampling method and selects 10 companies in the telecommunication sub-sector for analysis. The type of research used is a quantitative research design, including Panel Data regression analysis and the Wilcoxon Signed Ranks Test. The findings of this study show that ROA, ROE, and PER significantly impacted stock returns before COVID-19, however, this impact did not exist after the pandemic; DER, NPM, and EPS consistently affect stock returns both before and after the pandemic; and EVA only becomes significant after the pandemic. Simultaneously, ROA, ROE, PER, DER, NPM, EPS, and EVA influenced stock returns before COVID-19, but they did not have any impact after the pandemic. Despite these individual shifts, there are no significant differences in overall financial performance metrics and stock returns between the before and after COVID-19 periods. Future research should consider additional financial metrics or external factors such as market volatility, inflation rates, or industry-specific variables to provide a more comprehensive understanding of stock return determinants.

Modeling Contaminant Transport from a Red Mud Pond – A Case Study from South India

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The present study focused on impact assessment of redmud pond on groundwater using numerical groundwater flow and contaminant transport modeling using pertinent data including water quality and 2D electrical resistivity imaging data. The observed groundwater depths range from 1.2 to 25.8 meters below ground level with deeper levels observed in upstream and higher elevated regions in the study area. Elevated pH and electrical conductivity (>3000 μS/cm) characterize the Redmud ponds, while other groundwater samples meet BIS drinking water standards. Major ion concentrations contouring indicates high total dissolved solids (TDS) around Redmud ponds due to leakage and in the downstream due to domestic sewage pollution. Most locations adhere to BIS drinking water limits except for one downstream site. The resistivity data indicated hard formations (>18 m depth) with resistivity >500 Ohm.m, weathered basalt (12-18 m, 60-150 Ohm.m), and saturated water (12 m, 1-5 Ohm.m). Contaminated aquifers (<1 Ohm.m) are detected up to 3 m depth, and noticed accumulating contaminated water (27 m depth) in the NW corner of the Redmud pond from seepage. Predominant groundwater flow from the Redmud pond towards public water bodies and streams is highlighted by simulated contaminant transport model. Collaboration and comprehensive management are recommended to protect the watershed’s environmental integrity and public health.

Comparative Analysis of Pra-Post Merger and Acquisition Financial Performance Reviewed From EVA, MVA and Financial Ratio Methods (Empirical Study of Non-Financial Sector Companies Listed on the IDX for the Period 2015-2020)

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This study aims to compare the pre-post M&A financial performance of non-financial companies listed on the Indonesia Stock Exchange (IDX) in the 2-year period before mergers and acquisitions (M&A), in the year of M&A, and 2 years after M&A. Performance was measured using Economic Value Added (EVA), Market Value Added (MVA), and financial ratios. The research sample consisted of 22 companies selected by purposive sampling, and secondary data were analyzed from financial statements. Partial analysis was conducted with the Wilcoxon Sign Test because the data was not normally distributed, while simultaneous analysis used the MANOVA test with the STATA version 17 application. The results of simultaneous testing showed no significant difference in financial performance between before and after M&A. However, partial test results found significant differences in MVA variables in the period 2 years before, 1 and 2 years after M&A, as well as in the year of M&A. In addition, the ROA variable also shows significant differences in the 2-year period before, 1 and 2 years after M&A. However, the effect of M&A on MVA and ROA variables tends to be negative.

Blistering Skin and Blood Loss: A Rare Case of Epidermolysis Bullosa with Severe Anemia

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This case report examines an infant presenting with Epidermolysis Bullosa (EB) and severe anemia, highlighting the complexities of managing this condition. Despite receiving comprehensive care, EB significantly impacts patients’ quality of life due to chronic pain and psychosocial challenges. Effective management requires a multidisciplinary approach, with emphasis on wound care, pain management, and nutritional support. Targeted therapies, such as gene editing and protein replacement, offer promising avenues for improving outcomes in EB patients, emphasizing the importance of understanding underlying genetic mutations. Collaboration among healthcare professionals, researchers, and advocacy groups is essential for advancing EB management and enhancing patient care. This case underscores the urgent need for continued research efforts to address the unique challenges posed by EB and provide better support for affected individuals.

Genetic and Molecular Aspects of Ischemic Stroke

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Stroke remains a leading cause of disability and death worldwide, with significant public health implications. Ischemic stroke is classified into various subtypes based on etiology, including large-artery atherosclerosis, small-vessel occlusion, and cardioembolism. The middle cerebral artery is often the most affected. The concept of the ischemic core and penumbra is crucial in understanding stroke pathology, where the core suffers irreversible damage, and the penumbra is at high risk if reperfusion is not timely. Genetic predispositions play a significant role in ischemic stroke, with heritability estimates around 37.9%. Monogenic causes account for 1-5% of cases, while polygenic factors are more prevalent. Genome-wide association studies (GWAS) have identified numerous genetic loci associated with ischemic stroke, revealing the complex genetic architecture of the disease. Molecular pathways such as neuroinflammation, excitotoxicity, oxidative stress, apoptosis, and autophagy are involved in the pathophysiology of ischemic stroke. Understanding these pathways offers potential therapeutic targets. This review aims to synthesise recent genetic studies and provide insights into future directions for research and clinical practice in ischemic stroke, emphasising the importance of personalised medicine and targeted therapies.

Influence of Individual Consideration on Organizational Performance on private Universities in Nairobi County, Kenya

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Rethinking Tanzania’s Foreign Policy Paradigm: An Examination of the Evolution of Economic Diplomacy from 2001 to 2004

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This comprehensive review of Tanzania’s foreign policy since 2001 provides a nuanced examination of the country’s shift towards economic diplomacy, with a specific focus on the factors that contributed to this transformation. The article delves into the underlying reasons behind the initiation of this new foreign policy approach in 2001, despite its official launch occurring in 2004, and explores the complex interplay of global shifts, domestic transitions, and local institutional factors that drove Tanzania’s changing international relations in the early 2000s. A thorough analysis of primary and secondary scholarly sources reveals the strategic calculations, external pressures, and policy debates that motivated Tanzania’s post-Cold War foreign policy realignment and its timing. The article traces the intellectual and political influences on President Mkapa and his advisors that shaped the framing of economic cooperation as Tanzania’s new diplomatic priority, highlighting the key imperatives of regime stability, regional integration, and engaging emerging powers amidst declining terms of trade that prompted Tanzania’s foreign policy shift. The new vision, which blended liberalization with Tanzania’s historical principles, sought to balance change and continuity by redefining the country’s diplomatic priorities. This study concludes that systemic global factors, coupled with domestic restructuring, precipitated Tanzania’s earlier-than-conventionally-understood adoption of economic diplomacy, underscoring the complexity of international relations and the need for a nuanced understanding of the factors that shape them.

Oil Palm Expansion: Aspects and Gender Roles in Rural Oil Palm Farm Households

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This paper comprehends that commercialization in Indonesia, especially in the plantation sector, has increased every year. In this paper, the focus of this research is on oil palm plantations which are expected to increase every year. One of the actors playing a role in this expansion is farmer households. The purpose of this paper is to analyze and describe gender aspects and roles in oil palm farmer households. This research used qualitative and quantitative approaches. There were 20 informants in the study for qualitative data and 80 respondents for quantitative data. The types of data used in this research were secondary data and primary data. Primary data were obtained through observation, in-depth interviews, and questionnaires, while secondary data were obtained from literature studies and documents related to this paper. The results of this study reveal that this expansion changes and influences gender aspects in oil palm farmer households, such as increasing women’s working time due to entering productive sectors, and the emergence of new sources of economic income for women.

Company Financial Health Assessment of Pt. Properti Aset Kemakmuran: in Response to the Ongoing Company Financial Projection

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This study delves into the company’s financial health of PT. Properti Aset Kemakmuran, a subsidiary of one of the biggest State-owned Enterprise (SOE) in Indonesia, PT. Induk Aset Kemakmuran. The company is engaged in the field of asset & property development of PT. Induk Aset Kemakmuran, and currently executing a five yearly Company Long-Term Plan for the period of 2021-2025 that contains three financial projection schemes: Conservative, Base, and Aggressive scheme. During the strategic planning period, PT. Properti Aset Kemakmuran had only achieved the Conservative scheme that was prone to pessimistic targets, rather than the Base scheme that is projected as the middle standard scheme. Therefore, the author conducted an in-depth company financial health assessment consisting of Company’s Strategic Analysis and Company Financial Health Assessment that utilizes Financial Ratio Benchmarking & Financial Health Scoring with Government Regulation of the Decree of State-owned Enterprises Ministry Number KEP-100 / MBU / 2002 on the Health Assessment of State-owned Enterprises, in order to observe the contributing factors and company’s financial health that caused the low revenue achievement – based on the current financial projection scheme. The analysis concludes that there is a congruence between the financial achievement and Company’s Strategic Analysis & Company Financial Health Assessment. The company’s low revenue achievement was indicated and signified by its low Company’s Financial Health level result and Strategic Analysis’ result, that are lack of Digitalization & Digitization and lack of Sustainable Competitive Advantages.