Drivers of Stock Market Development in Nigeria: Does Openness Matter?

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The stock market represents a major source of long-term funds. However, the Nigerian stock market lacks depth due to the weak regulatory system and legal framework. Extant studies have shown that both institutional quality and openness are enablers of the stock market. An analysis of the effects of institutional quality and openness on the development of the Nigerian stock market from 1996 to 2021 is therefore crucial. The Auto Regressive Distributive Lag (ARDL) method is used to analyze data from World Bank databases and the Lane-Milesi Ferreti index, with results showing that institutional quality has a positive and significant impact on stock market development in Nigeria. Meanwhile, development of the stock market, institutional quality, and openness are related over the long term based on the ARDL bounds test. A further finding revealed that the development of Nigeria’s banking sector and the exchange rate had positive (negative) effects on the development of the stock market, respectively. Additionally, stock market liquidity contributed to development of the market. This study came to the conclusion that an enabling stock market in Nigeria could be strengthened by the interaction of institutional quality and openness. The study concludes that strengthening Nigeria’s governance institutions through the creation of an appropriate legal framework is necessary to ensure political stability and the absence of violence in the country’s political system. Besides, the government really needs to grant autonomy to agencies in charge of tackling corruption to enable them to enjoy simultaneous openness. Monetary authorities should also ensure exchange rate stability and improved credit for domestic investment activities.

Performance Improvement of Procurement Activities in Reaching KPI On-Time Delivery and Purchase Requisition to Purchase Order by Implementing E-RFQ Tools and Developing Team Collaboration and Communication

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Procurement activity in for an aircraft industry in Indonesia has suffered most during pandemic few years ago. The progress of Procurement at certain company is not that different. Moreover, one of the main problems in Procurement Division at the company is KPI On-Time Delivery target has not yet been achieved for aircraft commodities, especially for AEI. During these last 5 years, the procurement progress only achieved 48,5% on time, while the target is above 90% of total procurement activity. So far, mitigations has already been taken in order to reduce the delay rate. It give an impact, but the delay rate is higher than the target. The purposes of this study is to increase the On-Time progress and decrease the delay. this study uses conduct several analyses. Internal analysis using SWOT analysis method, while finding the root cause use method 5 Why’s Analysis method. Also, there are quantitative analysis and qualitative analysis. Qualitative analysis is done by using DMAIC Method to analyze the problem in a larger scope, while quantitative analysis is done to analyze the procurement data with Regression Analysis. The root cause of it was PR which could not be converted to PO because of the long-lasting RFQ and EQ process. The second root cause is miscommunication in the preparation of ordering aircraft materials. For the issue of the RFQ and EQ process is solved by developing and using e-RFQ Evaluation Tools to make sure that the quotation process and feedback from the supplier are done faster than using the manual method. For the miscalculation problem with improving teamwork and communication. The recommendation is to conduct research further regarding strategy purchasing.

Investment Project Analysis of a Medium Range (MR) Tanker Ships Purchase in an Attempt to Maintain the Economic Productivity of the Company (Case Study: PT XYZ)

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PT. XYZ is a spin-off charter out business of its host company that specifically focuses on providing charter out services in the shipping industry. This research was carried out in response to the requirement to rejuvenate the vessels owned by PT XYZ taking into consideration the age of the ships. In total, there will be 7 ships that was used as an object of this research, considering the replacement program options of either acquiring newbuild vessels or secondhand ships. Newbuild Ship investment will use a 9.09% hurdle rate, including the weighted average cost of capital (WACC) of 7.09% and a risk premium of 2% in the analysis. This hurdle rate will be used as comparative data to the required rate of return for the related project (IRR>Hurdle Rate). There is a total of 2 ship in the overall project that will be replaced with a newbuild ship, Project 1 and Project 2. These investment projects will be conducted from 2024-2026 period. The capital structure for newbuild projects consisted of 75% debt and 25% equity. Secondhand ship investment will use an 9.59% hurdle rate, including the weighted average cost of capital (WACC) of 7.09% and a risk premium of 2.5% in the analysis. There is a total of 5 ships in the overall project that will be replaced with secondhand ship, Project 3-7. These investment projects will be conducted from 2024-2026 period. The capital structure for secondhand projects consisted of 75% debt and 25% equity. Based on the financial assessments of the projects, the findings consistently demonstrate positive results. As a result, it can be inferred that the seven projects are both viable and feasible to undertake. The primary objective is to guarantee that these projects make a positive contribution to the company’s economic productivity.

Shariah Stocks, Sukuk, and Shariah Mutual Funds on the Economic Growth of Indonesia: The Role of Exchange Rate

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This study aims to analyze the influence of Shariah stocks, Sukuk, and Shariah mutual funds on Indonesia’s economic growth during 2012-2021, with the exchange rate as a moderating variable. The research utilized a quantitative approach and secondary data from the Financial Services Authority, the Central Statistics Agency, and the Bank of Indonesia. Descriptive statistics, normality tests, multicollinearity tests, autocorrelation tests, heteroskedasticity tests, and multiple linear regression analyses were employed to test the hypotheses. The findings revealed that Shariah stocks, Sukuk, and Shariah mutual funds significantly impacted Indonesia’s economic growth. Individually, Sukuk and Shariah mutual funds positively influenced economic growth, while Shariah stocks did not have a significant effect. Furthermore, the exchange rate moderated the relationship between Shariah stocks, Sukuk, and Shariah mutual funds and economic growth. The implications of this study highlight the importance of developing the Shariah financial market in Indonesia and the need for supportive policies to foster its growth. However, this study is limited by secondary data and a limited period. Future research should consider expanding the scope of data and extending the time frame to gain a more comprehensive understanding of the influence of Shariah stocks, Sukuk, and Shariah mutual funds on Indonesia’s economic growth.

Proposed Marketing Strategy to Enhance Brand Awareness for Wisata Murah Indonesia

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Tourism is one of the industries most impacted by the COVID-19 pandemic. As the virus recedes, the tourism industry is experiencing a revival, resulting in increased competition. Nevertheless, numerous businesses are unable to regain their prepandemic positions. Wisata Murah Indonesia is among the companies facing this situation due to the company’s lack of brand awareness. This research aims to raise awareness and develop a new marketing strategy for Wisata Murah Indonesia in order to boost revenue. This research uses two methods of analysis, namely the qualitative method and the quantitative method to conduct internal and external analysis. The outcomes were then used as the foundation for a SWOT analysis, which was followed by a TOWS analysis and a QSPM analysis to identify possible implementation strategies. This analysis results in a new business strategy to increase revenue at Wisata Murah Indonesia is to create affordable, trend-based special tour packages and to add passport and visa-making services so that customers are attracted by the convenience of travel. Additionally, raise awareness by conducting online and offline promotions. Online promotions include collaborating with influencers and adding new marketing channels, namely TikTok and YouTube. Offline promotion is by making tour packages with special prices or discounts for offline purchases, such as at the Travel Fair. Wisata Murah Indonesia can also improve their brand reputation to increase customer loyalty and potential customers.

Implementation Analysis of e-Government Gadget Mobile Application For License (GAMPIL) with UTAUT 2 Model to Achieve SDG Target 8.2 “Technological Improvement and Innovation” For Bandung City SMEs

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The government’s current focus is on advancing the digitization of MSMEs with the “ensuring sustainability and inclusive growth” program, this is in line Sustainable Development Goals (SDGs) number 8 concerning decent work and economic growth with target 8.2. The Bandung Government (DMPPSTP) provides a convenient solution for MSME activists in the city of Bandung in applying for business licenses through the GAMPIL (Gadget Mobile Application for License) application to make it easier for MSMEs to apply for business licenses, so that the economy continues to grow. and sustainable.This study analyzes the implementation of the GAMPIL application launched by the DMPSTP as a convenient solution for MSME activists in the city of Bandung in applying for business permits.The method used in this study is to use a mix method approach. The data was collected by distributing questionnaires to 101 MSME respondents in Bandung using GAMPIL, and interviewing 5 related sources. Based on the descriptive results, the variables performance expectancy, effort expectancy and price value are included in the very high category, while the facilitating condition and socialization variables are in the bottom two places with high categories for facilitating conditions and low for socialization variables. Variables that influence behavioral intention are price value, habit and perceived security and risks. The variables that influence usage behavior are facilitating condition and behavioral intention variables. As for the moderating variable, only the experience variable moderates behavioral intention towards usage behavior.

Vermitechnology: A Sustainable Approach to Manage Organic Waste in Urban Areas

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Vermicomposting is the natural process of compost formation by converting organic wastes into organic fertiliser utilising earth worms and cow dung. It is being widely used for solid waste management. Many species of earthworms are utilised in this process such as Eisenia fetida, Eudrilus eugeniae, Eisenia andrei, Lampito rubellus and Drawida willis. They feed on the organic waste to produce vermicompost, vermiwash and more earthworms as resultant products. Composting process with this technique takes around 28-120 days and it depends upon the type of worms and organic waste used. Kirori Mal College of the University of Delhi is pioneer in adopting the vermicomposting on a large scale. It has put 15 beds in place in its nursery. This set of fifteen composting beds is able to utilise about 1.7 tons of dry leaves in a single cycle and converts them into very nutritious fertilizer. As we could run four such cycles in a year, the Kirori Mal College has the potential of consuming about seven tons of dry leaves annually and put it to a better use, which otherwise, would have been a responsibility of the Municipal Corporation of Delhi. Along with the vermicompost, the process also produces vermiwash, a concentrated liquid fertilizer, which is stored and is being utilized after dilution. The vermicomposting also leads to rapid multiplication of earthworms, which can be sold in the market and the spare ones can be utilised for the next cycle. Vermicomposting for the disposal of the dry organic waste is very cost effective and energy efficient.

The Correlation between Study Behavior and Depression among Thai and International High School Students in Bangkok

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Depression significantly impacts people’s behavior and relationships with their loved ones by negatively influencing their emotions and actions. In Bangkok, there is an increasing prevalence of depression among Thai and international high school students due to variances in study habits. Thus, we conducted cross-sectional survey research to determine the correlation between study behavior and depression in Thai high school students. An online questionnaire was employed in this study to gather information on the study habits, including time management, of Thai and international students. To determine if study habits among Thai and international students are associated with depression, we employed the standard deviation, Ttest, and Pearson Correlation Coefficient. According to the information we have obtained, we have discovered that Thai high school students are more likely than international students to experience depression, which strongly shows that their academic curriculum is significantly more strenuous and stressful (p-value of 5.58). The outcomes of this study should aid in advancements in education and mental health research by promoting therapies, educational practices, and interventions by analyzing teenage problems, academic stress, and mental health.

Financial Feasibility Study in the Construction of the “Katering Nusantara” Project in the New National Capital of Indonesia (IKN) PT. XYZ

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The development of an Indonesia new national capital requires a significant workforce, with over 260,000 construction workers needed for the phase 1 construction between 2022 and 2024. To support this massive undertaking, PT. XYZ received an opportunity to provide catering services for 4,500 employees involved in building the nation’s capital, known as Katering Nusantara. Recognizing the potential of the catering industry as a stimulant for corporate growth, PT. XYZ expanded its product line, from only focusing on inflight catering to remote industrial catering. While the inflight catering business relies on flight availability and aviation infrastructure, the industrial catering segment offers more flexibility and opportunities for growth through participating in tenders at various factories across Indonesia. As part of the study, a financial feasibility analysis will be conducted to evaluate the investment in Katering Nusantara, considering factors such as investment costs and overall feasibility. Financial feasibility study conducted in this project to allow PT.XYZ assess the potential risk and return associated with the Katering Nusantara project. The investment of Katering Nusantara will cost Rp5,275,990,000 and will be funded using debt and equity. In the research reveal that the payback period 3.82 years, with a Net Present Value (NPV) of Rp. 11,647,468,485, a profitability index 2.21, and Internal Rate of Return (IRR) of 45%, which surpasses cost of capital 14.38%. This suggests that PT.XYZ should proceed with the implementation of the Katering Nusantara project. At the same time, it is important to note that the project’s financial performance is sensitive to changes in catering sales prices, emphasizing the need for cost optimization and alternative pricing strategies to mitigate potential fluctuations.

Analysis of the Leadership Role on Employee Well-being. Study Case: HKBP District VIII DKI Jakarta

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Employee well-being is high on the corporate agenda because companies and their boards of directors connect and correlate it with success. Employees’ eligibility for perks, insurance, and medical care is frequently determined by socioeconomic considerations. This means that disadvantaged groups are frequently left behind, although they require the most assistance. HKBP or Huria Kristen Batak Protestan is one of the largest church organizations among Protestant churches in Indonesia and Southeast Asia. As one of the largest churches in this country, HKBP should be an organization that can set an example in terms of organizational governance that is characterized by being clean, transparent, visionary, has access to the public, and is based on the needs of the congregation. But the hope to be an example, an example organizationally has not been realized properly because of turmoil from internal problems that went wrong.

Currently, by looking at HKBP’s internals, it has even caused turmoil, and many inequalities and made HKBP’s management far from what we expected. There are even terms for HKBP wetland and dryland HKBP. Of course, this fact cannot be denied, even though all HKBP servants have made promises to be willing to be placed anywhere to preach the gospel. The struggle for churches that are wetlands and those who have financial resources is certainly one of the evaluation materials and a weakness of HKBP’s financial decentralization, where this does not at all reflect the life of God’s servants who should receive the assigned placement for each individual. This also shows that well-being is not evenly distributed and creates gaps among servants.

This study aims to identify leadership roles to employee well-being, such as Job Performance, Ethics or Personal Characteristics, Communication or Feedback, and Justice or Fairness. To determine what has to be addressed and developed by leaders to improve the well-being of employees in HKBP District VIII DKI Jakarta can be seen from a leadership role on employee well-being indicators, such as Positive Emotions, Engagement, Relationship or Positive Relationships, Meaning, and Achievement (PERMA). Based on this research, the priority that must be improved in Leadership is Justice or Fairness. HKBP District VIII DKI Jakarta has to level up and maintain the existing program, such as seminars about self-development in leadership and annual programs to intensify the bond between the leader and fellow church ministries.