The IFRS-16 will shortly be implemented worldwide, where the operating lease is effectively removed, and all operational leases are qualified as debt. The operational lease is a major source and is important for off-balance sheet financing in Indonesia. Therefore, the implementation of IFRS-16 will probably hurt Indonesian business. The contract and/or service level agreements on the retrofits for the energy efficiency product can relieve the business owner from cash flow and new debts. This study established a framework for a critical comparative study; compare and assess the possibility of the retrofit financial practices under the current taxes regime, and the possibility upon IFRS-16 implementation to better understand the favorable measures for retrofit practitioners and future customers to handle the disputes. Triangulate the findings of comparative study and questionnaire survey to develop recommendation for the future researchers, practitioners and the government. The result indicates that the benefits of the retrofits financing implementation beat the cost and complexity posed by the enactment of new IFRS standards. Thus, the impact of the IFRS-16 and taxation are being considered as a part of business constraints that should be addressed together and able to manage the disputes over misperception on retrofits aspects with taxes officers.
For decades, the subsidy had prompted excessive and wasteful while offering little motivation to boost energy efficiency or reduce domestic greenhouse gas emissions. This paper aimed to measure household subsidy energy by examining the relationship between the other ten variables. The Logarithmic Mean Divisia Index (LMDI) and decomposition index were deployed to recognize the determinant effects that drive household's subsidy energy consumption. This study also presented an ARDL model applied. The robustness of the Granger Causality, Long-run, and Short-run causality during 1990-2017 was assessed. Based on LMDI, we found out that Population, Income Per Capita, Ratio National Renewal Energy over Fuel Fossil, Gross Capital Stock, Urban Household Consumption, and Ratio Household Subsidy were the positive factors that aggravate the change in household energy subsidy. The negative sign of Ratio National Energy Intensity effect, Ratio Fossil Renewal Energy effect, Ratio Capital Labour substitution, and Ratio Household over Labour Force signified the decreasing significance of less household energy subsidy. On the ECM, we identified a negative sign speed-of-adjustment and significant at 1%. It implied that all the ten variable effects were converging in the long run after an experience shocks. The equation parameters were considered stable since the CUSUM gets inside the two critical lines. Additional RESET test of the stability to ascertain whether the estimated model was linear or correctly specified has been performed.
There were three important IPO anomalies: the positive average initial return (improperly called short-term 'underpricing'), the long-term underperformance, and hot/cold IPO. The EVENT STUDY model explained the 'underpricing' based on the assumption that the underwriter sets the initial price equal to the market-perceived true value and investors were rational. IPO prices are affected by demand and supply. The idea of the model was to explore pump-and-dump and flipping patterns exhibited upon IPO anomalies event in Indonesia. Pump-and-dump is the strategy to manipulate stock prices, while flipping was stocks bought at the IPO and sold at early days ta listing date. This strategy oftentimes exhibits anomalous behavior. Some implications of this model for the IPO market were positive 1st-day initial return (IR) and a negative relation cumulative average abnormal 5-days abnormal return (CAAR-5days) for flipping strategy. The other was a relationship between underperformance cumulative average 30-days abnormal returns (CAAR-30days) and cumulative average 5-days (CAAR-5days) abnormal returns in terms of pump-and-dump strategy. Using the relation between the Characteristics (Size of issue, Board and Floating rate) and Macroeconomics Condition (Central Bank Rate, Inflation rate, USD/IDR exchange, and GDP growth), and the IR, a CAAR-5days and a CAAR-30days, this EVENT STUDY explained the existence of the pump-and-dump and flipping pattern in the Indonesian stock exchanges. The Authors implemented a multivariate analysis of variance (MANOVA) to test hypotheses regarding the effect of a three-variables dependent (the initial return, a 5-days abnormal return, and a 30-days abnormal return) into several dependent variables. Using the IPO data taken from 2015-2019, the paper found that this EVENT STUDY explained the existence of pump-and-dump and flipping patterns at the early trading of IPO stocks in the Indonesia Exchange Market.
This paper explores the experiential teaching of ‘work & innovation-based’ learning entrepreneurship through a Lean Startup Methodology (LSM). The LSM is a practical framework for entrepreneurship students to test whether their new innovation idea meets customers’ expectations. The iterative approach, according to LSM, to develop new innovation- based products is used and LSM was compiled into a number of principles. The students have been forced to implement LSM in early-phase ventures. This study investigated several factors that influenced prospective young entrepreneurs in Entrepreneurship Education within students, based on a sample of 225 university students. The research model used the ‘Non-Equivalent Groups Design’ (NEGD) framework for both ‘observed group’ and ‘control group’. The results of this study showed that “Perceived Desirability” and “Perceived Feasibility” have impacted on Entrepreneurial Intentions in an integrated environment of higher education. The descriptive statistic and MANOVA Analysis were used to analyze the Entrepreneurial Intentions of young digital talents.
This paper to set up an initial model in developing the model for Energy Saving Companies in Indonesia in assessing alternative financing for Energy Efficiency Saving in Indonesia. The reviewed for all the energy efficiency saving advantages cover the upfront investment costs are presented. The model is using the Analytic Hierarchy Process (AHP) and life cycle cost (LCC) analysis, with sensitivity analysis, is presented under possible a game-theory process. On some occasions, these alternative financing values are comparing to other similar investment returns as well as the risks
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