Showing papers in "Journal of economics, finance and management studies in 2022"

Use of the E-Filing System by MSME Actors during the COVID-19 Pandemic

Abstract: This study aims to determine the effectiveness of e-filing system usage for MSME taxpayers in Indonesia during the COVID-19 pandemic. Community activities’ restrictions on national scale cause taxation activities are also carried out online, including tax reporting accomplished by utilizing the e-filing system. The method used in this study is descriptive qualitative method with a literature study approach. Most of the literature data used is the implementation of e-filing system for MSME taxpayers during the COVID-19 pandemic in the year between 2020-2022. The results of the literature review showed that MSME taxpayers gave a positive response to the convenience and benefits provided by e-filing system. On the other hand, there are still MSME taxpayers who do not understand the system’s operation, thus requiring further assistance and socialization from the tax authorities.

Analysis of the Effect Liquidity, Leverage, Profitability and Sales Growth on Financial Distress (Altman Z-Score) (Empirical Study of Retail Sub - Sector Companies Listed on the Indonesia Stock Exchange (IDX) 2015-2019

Abstract: Financial distress is a condition when a company is experiencing financial difficulties, resulting in the company being unable to pay its obligations and leading to bankruptcy. This study was conducted to examine the liquidity ratio (Current Ratio), leverage (Debt to Equity Ratio), profitability (Return on Equity), and sales growth to financial distress (Altman Z-Score) in retail sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2015-2019 period. The number of selected samples is 16 companies and has been determined using the purposive sampling method. The data collected is in the form of financial statements for the 2015-2019 periods. The analytical method used is the panel data regression method with the Common Effect model. The results of this study indicate that the current ratio, debt to equity ratio, sales growth have a positive effect on financial distress (Altman Z-Score), while return on equity does not affect financial distress (Altman Z-Score).

Analysis On The Impact Of Firm Size, Return On Equity, Debt To Equity Ratio, And Dividend Pay-out Ratio Towards Stock Price On LQ45 Companies Listed In Indonesia Stock Exchange

Abstract: This Research use simultaneous or sequential approach to find the impact of firm size, return on equity, debt to equity ratio, and dividend pay-out ratio towards stock price. This research uses quantitative approach, such as linear regression. 64 companies that act as the population was further filtered by using purposive sampling method which results in 27 companies left and with the total of 4-year financial year, the total sample for this research is amount to 108. Adjusted R square amount to 0.566 means that the independent variable (firm size, return on equity, debt to equity ratio, and dividend pay-out ratio) only explained 56.6% of the dependent variable. The rest 44.4% is being explained by other variables that was not in this research. The partial test identify that partially firm size has a significant positive impact on the stock price, return on equity does not have a significant impact towards stock price, but has a positive relationship. Debt to equity ratio have a significant negative impact towards stock price, and dividend pay-out ratio partially does not have impact on stock price and have a negative relationship. Simultaneously, firm size, return on equity, debt to equity ratio, and dividend pay-out ratio have a significant impact towards stock price on companies that was listed in LQ45 index in Indonesia Stock Exchange.

Assessing the Stability of the Oil and Gas Production in Common Fields: Application of Game Theory

Abstract: One of Iran's oil and gas reservoirs' characteristics is that some of Iran's huge reservoirs are shared with its neighbors. Iran's common oil and gas fields with its neighbors are among the most valuable income and national wealth sources, so production delays cause irreparable damage to the national economy. Therefore, this research attempts to use game theory to investigate the optimal production of common oil and gas fields onshore and offshore. For this purpose, the existing revenues and production costs of oil and gas fields have been identified and extracted by reviewing the research literature. Yadavaran oil field and South Pars gas field were selected as case studies. After developing the model using mathematical optimization, the values of decision variables, optimal production rate, optimal selling price, and optimal profit for each player in each common field were calculated. The results of solving the designed games showed that the best strategy and Nash equilibrium for Iran is the strategy of cooperation.

The Influence of Leadership Style, Work Incentives and Work Motivation on the Employees Performance of Regional Revenue Agency

Abstract: Employee performance is something that needs to get the attention of an organization in order to achieve the goals that have been proclaimed. This study aims to determine the effect of leadership style, work incentives and work motivation on employee performance at the Banyuwangi Regency Revenue Agency. The population in this study were employees of the Banyuwangi Regency Regional Revenue Agency, which totaled 101 employees. The sampling method used is a saturated sampling technique or census. The measuring instrument in the form of a questionnaire was used to conduct this research. Validity test and reliability test are used to test whether the measuring instrument is feasible to use or not. The data analysis method in this study uses PLS (Partial Least Square) using the Smart PLS application program. The results of the statistical test of this study state that leadership style has a significant effect on employee performance. Work incentives have a significant effect on employee performance. Work motivation has a significant effect on employee performance.

The Effect of Profitability, Capital Structure and Investment Decisions on Firm Value with Leverage as an Intervening Variable in FnB Sector Companies Listed on the IDX

Abstract: This study aims to determine and analyze the effect of profitability, capital structure and investment decisions on leverage and firm value in FnB Sector companies listed on the Indonesia Stock Exchange in 2017-2019. The population of this study are all FnB companies listed on the IDX in 2017-2019 with a total of 26 companies. The sample technique is purposive sampling with the criteria for the availability of company financial statements up to 2019 and positive profitability, obtained a sample of 13 companies. The data analysis technique used statistical description and path analysis. The results showed that there was no significant effect between profitability, capital structure, investment decisions and leverage on firm value. Profitability and investment decisions have a significant effect on leverage.

Debt-Equity Ratio and Financial Performance of Listed Companies at the Nairobi Securities Exchange, Kenya

Abstract: Firm financial performance is essential for corporate survival and prosperity. Financial leverage may be used to enhance corporate financial performance, but it can also occasion financial distress and bankruptcy if not carefully managed. At the Nairobi Securities Exchange, a number of firms face poor financial performance, and financial distress, commonly associated with excessive leverage and bankruptcy. The purpose of this study was to determine the effect of debt-Equity ratio on financial performance of listed companies at Nairobi Securities Exchange. The study was grounded on dynamic tradeoff and pecking order theories. Positivist research paradigm with explanatory design using linear regression model on panel data obtained from a survey of 38 listed companies at Nairobi Securities Exchange over the period 2010 to 2019 was used. The data was mined from financial statements filed at the Nairobi Securities Exchange. Controlling for Firm size, Sales growth and operational efficiency, the study found Debt Equity ratio (ꞵ= -.1633009 p= 0.000) negatively related to Return on Equity and statistically significant at 0.05. The study recommended reduction in long-term or short-term debt or both or increase in equity finance for overall reduction in debt-equity ratio to enhance Return on Equity. Further, the study recommends deepening of Kenya’s capital market to permit optimal capital structure adoption by firms. The study contributes to knowledge by establishing the state of financial leverage at Nairobi Securities Exchange, to policy by establishing the need for deepening of capital market at NSE and to theory by confirming the relevance of dynamic tradeoff and pecking order theories at the bourse. The study scope was limited to firms listed at NSE. A similar study covering East Africa capital market is recommended. Further, a study to explore the limiting factors in Kenya’s capital market is recommended.

The Impact of Smart Phone Applications on Improving Marketing Performance of Banking Services in Jordanian Commercial Banks

Abstract: This study aimed to identify the impact of smart phone applications in its dimensions (ease of use, ease of access to customers, speed of information handling, and response) in improving the marketing performance of banking services in its dimensions (number of customers, number of banking services, and sales volume). The descriptive analytical approach was used, and the study population consisted of (13) commercial banks. Electronically survey set was distributed to the study sample. The SPSS program was used for the purposes of statistical analysis and testing the study hypotheses. The study found that there is a statistically significant impact at the level of significance of (α≤0.05) for the impact of smart phone applications in its dimensions (ease of use, ease of access to customers, speed of dealing with information, and response) in improving the marketing performance of banking services by its dimensions ( number of customers, number of banking services, and sales volume) in Jordanian commercial banks, The study recommended a number of recommendations, and the most is: adoption of smart phone applications is become highly necessarily by the marketing departments in Jordanian commercial banks due to its technical advantages in terms of easy access to customers, speed and providing banking services to customers, customers privacy toward their banking transactions, ease of meeting the customer's needs at any time, and the ease of targeting customers of different groups, which has a significant role in improving the marketing performance of banking services.

Just Imagine Financial Planning Software That Does This

Abstract: Very little research has been done on strategic financial planning software programming. Today's approach is to perform a single simulation, calculation, or utility application and assume the results apply to all times and allocations for all future ages. But time periods change with age as do allocation characteristics over time. This paper steps back to look at financial planning software programming as a foundational strategy to model retirement income while aging that same retiree over time, meaning looking at all the possible future time periods as well as all prudent allocations over those possible future time periods. Additionally, research to date has focused on “early stage” retirement meaning the retirement event occurs sometime in the retiree’s age-60’s. In other words, the inception of retirement. Little research has been done looking at the transition into later stage ages or later allocations for portfolio income distributions through “late stage” retirement years. It is not enough to know how to initiate retirement. It is also necessary to know how to sustain retirement spending prudently, as well as how spending decisions ripple through age to future bequest balances. This paper reviews concepts on how to imagine that transition to and through late-stage retirement and develop better software programming using a data cloud concept to accomplish that early-to-late stage retirement income modeling based on research evidence. The author is a practitioner nearing nearly three decades specializing in research and application of drawdown of portfolios for supplemental retirement income, clinically with many different retirees of many different ages all at the same moment in time. The author also has numerous research papers published in the Journal of Financial Planning and numerous other published papers leading to the thoughts in these referenced papers and below. The author suggests integrating many different disciplines is important to advancing retirement income planning into more focused modeling, rather than today’s single simulation approach.

Financial Deepening and Small and Medium Scale Enterprises (SMEs) Output in Nigeria

Abstract: The study examined the relationship between financial deepening (FD) and entrepreneurial growth (EG) in Nigeria for the period of 1986-2021 (36years). This was done in respect to the measures of FD, namely; Ratio of Broad Money Supply to Gross Domestic Product (M2/GDP), Ratio of Private Sector Credit to Gross Domestic Product (PSC/GDP), Ratio of Market Capitalization to Gross Domestic Product (MCAP/GDP) and Ratio of Loans to Small and Medium Scale Enterprises to Gross Domestic Product (LSMSE/GDP) in relation to EG was proxied by Small and Medium Scale Enterprises Output (SMSEO) in Nigeria. The data for the study was sourced from Central Bank of Nigeria (CBN) Statistical Bulletin and World Bank Development Indicators. Then, the stationary and normality tests was carried out, followed by the descriptive statistics, correlation and multiple regression tool of analysis with the aid of E-VIEW 9.0 statistical package. The results showed that M2/GDP, PSC/GDP, MCAP/GDP and LSMSE/GDP have positive and negative significant effect on SMSEO in Nigeria. Hence, the study indicated that FD had a considerable impact on EG in Nigeria. The report proposed that the CBN compel deposit money Banks (DMBs) to extend greater loan facilities to entrepreneurs (private sector), including young graduates and new entrepreneurs, without collateral to enable them to participate in successful businesses. In addition, venture capital firms should be developed to aid in EG, resulting in the production of value and wealth.

Climate Impact and Corporate Communication: The European and Italian Situation and the Issb Proposal Outlined in Exposure Drafs S2 Climate-Related Disclosure - 29 March 2022

Abstract: On 29 March 2022, the International Sustainability Standard Board (ISSB), an emanation of the IASB, issued two Exposure Drafts: IFRS S1 General Requirement for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosure. This article will only deal with Draft S2, which proposes a very comprehensive formal and substantive reporting structure concerning the issue of the climate impact of companies' production activities. It must read Draft S2 in the light of Draft S1 since both documents refer to the same rules of conduct and the same formal structure of the external report. The two Drafts S1 and S2 interpreted as documents that form part of a single global vision of corporate communication, show how the ISSB wants to overcome the duality of financial reporting/sustainable disclosure and propose a unified idea of corporate communication. This is also demonstrated by the proposal, contained in Draft S1 and taken up by Draft S2 as an explicit reference to what was stated in the First Draft, to communicate financial reporting and all reports on sustainability and climate change to third parties on the same date and with the same communication tool.

International Shopping Environment Variables To Increase Customer Satisfaction And Repurchase Intention Of Furniture Store In Indonesia

Abstract: The retail industry sector is one of the marketing products which selling goods directly to consumers. In general the retail industry is a business activity selling various kinds of goods for direct and indirect consumption. In the trade chain, retail business is at the very end of the distribution process of goods and services. Therefore the presence of Mitra10 is very influential in the development of the retail industry, particulary in Surabaya. This study aims to analyze the effects of variables such as Merchandise Value, Internal Shop Environment, Interaction With Staff, Merchandise Variety towards Repurchase Intentions through Customer Satisfaction of the customers of the Mitra10 in Surabaya. The sample in this study is men and women, aged 18-50 who live in Surabaya. Total respondents who make purchase for personal needs and have made purchases within 2 times in the last 3 months. Data were analysed using the SPSS 22, according to the characteristics of respondents using snowball technique. Based on data analysis is that from six proposed hypotheses, all hypotheses are supported

The Influence of Competence, Teacher Performance and Principal Leadership on the Quality of Education at the Malang Mardiwiyata Foundation

Abstract: The purpose of this study was to describe the variables of Competence, Teacher Performance, Principal Leadership and Education Quality. Analyzing the effect of the variables of competence, teacher performance, and principal leadership simultaneously on the quality of education. Analyzing the variables of competence, teacher performance, and principal leadership partially on the quality of education, as well as knowing to analyze among the variables of competence, teacher performance, and principal leadership which have a dominant influence on the quality of education at the Mardiwiyata Malang Foundation. The population in this study were teachers at the Mardiwiyata Foundation, Malang, totaling 105 people. The sampling technique in this study used the method of questionnaires, interviews, and interviews. The data analysis technique used in this research is multiple linear regression analysis. The results showed that competence, teacher performance, and principal leadership simultaneously affect the quality of education. Competence, teacher performance, and principal leadership partially affect the quality of education, and competence is the dominant influence on the quality of education at the Mardiwiyata Foundation Malang.

Effect of Return on Assets, Return on Investment, Debt to Equity Ratio, and Current Ratio on Firm Value (Case Study on Manufacturing Companies in the Food and Beverage Sub-Sector Listed in the 2017-2021 Period)

Abstract: The purpose of this study is to determine the effect of ROA, ROI, DER, and CR on firm value in food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange during 2017 – 2021. Any data required is official data from annual financial reports originating from BEI. The method in taking the sample using the method of purpose sampling. There is a test used consisting of the classical assumption test which is part of the normality test, multicollinearity test, autocorrelation test, heteroscedasticity test, panel data regression test, coefficient (R2), hypothesis (T test), hypothesis (F test). Adjusted R Square value has 41.1% influence on firm value and the rest 58.9% influenced by other variables. The results of the research are: (1) the return on assets, Return on Investment, Debt to aquity ratio variables have an effect on firm value. (2) Current ratio variable has no effect on firm value. (3) The effect of ROA, ROI, DER, CR simultaneously on firm value.

Financial Analysis of Business Feasibility and Maggot Black Souldier Fly Cultivation Development Strategy

Abstract: This study aims to analyze financial feasibility and develop strategies for developing Black Souldier Fly (BSF) maggot cultivation business. The research location in Omah Maggot Warna Warni, which is located in the village of Puntir Martopuro, Purwosari Pasuruan, was chosen with the consideration of having good prospects for BSF maggot cultivation. Respondents include 4 resource persons who are directly involved in maggot cultivation. The analysis used is a quantitative financial analysis by calculating the value (Net B/C, NPV, IRR, and Payback Period and BEP) with a discount factor (DF) of 11 percent. Sensitivity analysis was used to determine the sensitivity of BSF maggot cultivation to a decrease in production which was conditioned by a 10% to 40% decrease in production. Descriptive analysis with SWOT analysis is used to find strategies for developing Maggot Cultivation Business. The results showed that maggot cultivation was profitable to cultivate. This business is feasible because the NPV and Net B/C values are greater than 1, and the IRR value is higher than the interest rate. Based on the SWOT analysis, it shows that the position of the internal-external matrix of the Omah Maggot Warna Warni maggot cultivation business is in quadrant II or the growth and development strategy with the IFAS factor value of 2.39 and EFAS 3.03. This phase shows that the colorful Omah Maggot maggot cultivation business is undergoing a growth stage and must be developed because it has great potential to develop. The priority of the BSF maggot cultivation development strategy is to improve the quality of maggots, expand network marketing, and increase the use of cultivation technology and collaborate with the local government for the development of the Colorful Omah Maggot maggot cultivation business.

Impact of Credit Facilities to Private Sector Businesses on Nigeria’s Real Gross Domestic Product (RGDP), 1980 – 2021

Abstract: The research looked at how provision of credit facilities to private sector businesses did (or didn’t) affect the rate of economic expansion in Nigeria between the years 1980 and 2021. We used log-linear multiple regression to investigate both the short-term and the long-term dynamics of the connection between credit facilities to private businesses and overall economic expansion. The empirical findings demonstrated that provision of financial resources to private sector businesses had a considerable and favourable impact on economic expansion in Nigeria between the years 1980 and 2021. The findings also demonstrated that Nigeria's economic climate is adversely affected by the country's exchange rate and interest rate. In the short run, government spending in Nigeria has a big and beneficial impact on real gross domestic product (RGDP), but in the longer run, it has a detrimental impact on the economy. As a result, the report suggests that the government should make it a priority to ensure that private businesses have simple access to credit facilities. It is imperative that the public sector and the private sector work together to develop a fruitful partnership, with the public sector acting as a facilitator and the private sector committing to adhering to the rules and providing goods and services that are of high quality at prices that are competitive. In addition, the study suggested that Nigeria government should focus its policymaking efforts on achieving an optimal exchange rate, interest rate, and level of government expenditure to the private sector. This is so that these factors will have a stronger effect on the level of productivity in the private sector, thereby fostering faster economic growth.

Does Romanian Emigration Influence Labour Force?

Abstract: The present paper contributes to the studies on Romanian emigration by assessing the link between emigration and labour force. After the elimination of Schengen visa and adhesion to the European Union, the low incomes and the competition on the European Union market influenced and intensified the Romanian emigration, which reached 3 mil. in 2020. However, the number of available jobs followed a similar trend like emigration, being on an increasing trend starting with 2010. In light of this, the first questions that arises are: There is any connection between migration and labour force? and What is the impact of migration on the labour force? The purpose of this paper is to assess the influence of migration on the labour force in Romania using the main four dimensions of migration: emigration, remittances, return migration and immigration.

Predictive Software Engineering: Transform Custom Software Development into Effective Business Solutions

Abstract: The paper examines the principles of the Predictive Software Engineering (PSE) framework. The authors examine how PSE enables custom software development companies to offer transparent services and products while staying within the intended budget and a guaranteed budget. The paper will cover all 7 principles of PSE: (1) Meaningful Customer Care, (2) Transparent End-to-End Control, (3) Proven Productivity, (4) Efficient Distributed Teams, (5) Disciplined Agile Delivery Process, (6) Measurable Quality Management and Technical Debt Reduction, and (7) Sound Human Development.

Meeting the Challenges of Sustainable Women Entrepreneurship Development in North Eastern Nigeria

Abstract: In recent years, women's sustainable development has become a major concern. In today's world, the economic sustainability of women is seen as a key indicator of progress for any country; thus, social scientists, economists, policymakers, reformers, and non-governmental organizations (NGOs) place a premium on their economic sustainability. Since insurgency has drastically changed the social-economic responsibility of women in this area, the paper in this accord set out to till out specific challenges in which women entrepreneurship development is faced in the north-eastern region, as most male folk have been killed and some irreversibly injured. The paper discovered that the majority of these difficulties are sociological, but a few are financial, such as religion, underage marriage, inadequate educational exposure, and limited access to capital, using qualitative review process. It concludes by recommending that the government and all other relevant parties in this region effectively implement policies and programs to boost female education, raise awareness and promote literacy, mitigate economic marginalization, prevent household frictions, and demands for further research in this field.

The Role of Finance Literacy Moderation on the Influence of Lifestyle and Financial Technology on the Consumption Behavior of the Millennial Generation in the City of Denpasar, Bali-Indonesia

Abstract: The millennial generation is currently facing various challenges including limited financial resources and the rising cost of living. Therefore, knowledge in personal financial management is needed to help them make the right financial decisions. The character of the millennial generation who is impulsive in shopping and has poor financial planning must immediately be given a solution for consumptive behavior that occurs because of excessive consumption intentions. This research aims to analyze the moderating role of financial literacy on the influence of lifestyle and financial technology on the consumptive behavior of the millennial generation in Denpasar. Data were collected through a questionnaire instrument (Likert Scale) which had been tested for validity and reliability. While the sample is determined as many as 95 people with incidental sampling technique. Furthermore, the collected data were analyzed using the SEM-PLS analysis technique. The result of the research is that lifestyle and the use of financial technology directly have a positive and significant impact on the consumptive behavior of the millennial generation in Denpasar City. Second, financial literacy directly has a positive and insignificant effect on the consumptive behavior of students. This positive coefficient value indicates the opposite direction, meaning that the better the increase in financial literacy of the millennial generation, the more consumptive behavior will increase. Third, there is a positive and significant influence on the interaction of financial literacy with lifestyle and the interaction of financial literacy with the use of lifestyle technology on consumptive behavior.

Factors Influencing Effective Talent Acquisition of the Small and Medium-Sized Enterprises in China

Abstract: With the Pandemic job economy and growing Chinese economy to compete with that of US, competition for talent is high. Small businesses may feel at a disadvantage when recruiting new employees. How can small businesses effectively acquire talent going forward? Small businesses are constantly in a fight for talent. In today’s job market, experienced and talented workers have many options to choose from. As a small business owner, how do you ensure that you get the best people to join your company when you can’t match the same salaries and benefits as larger companies? On top of that, because you are running a lean operation makes it even more vital for you to hire the right people who have the necessary skills to help your business grow [1].

Increasing Community Trust and Satisfaction Based on Organizational Performance and Local Government Innovation

Abstract: This paper aims to determine and analyze the impact of organizational performance and government innovation on community satisfaction and public trust in the employees of the Banyuwangi Regency Population and Civil Registration Office. The total population is 1,749,773 people from all villages in Banyuwangi Regency spread over 200 villages. With the Slovin method, a sample of 400 respondents was obtained. Descriptive analysis is used to describe the description of respondents related to gender, age and education level as well as a description of the research variables used. The measuring instrument used was tested by testing the validity and reliability of the data. Hypothesis testing in this study uses SEM analysis using WarpPLS statistical software version 6.0. After analyzing the results of this research, it is found that organizational performance has a significant effect on community satisfaction. The second result is that local government innovation has a significant effect on community satisfaction. The third result is that organizational performance has a significant influence on public trust. The fourth result is: local government innovation has a significant effect on public trust. The fifth result is: community satisfaction has a significant effect on public trust. The sixth result is: organizational performance has an indirect effect on public trust through community satisfaction. The seventh result is that local government innovation affects public trust through community satisfaction.

Effect of Selected Macroeconomic Variables on Budget Deficit in Kenya

Abstract: Macroeconomic stability has been a concern to many economies as it shows the economic health of a nation. Kenya has had unsustainable and persistent fiscal deficit which has been phenomenal in the recent past despite several economic reforms being established in an attempt to stabilizing the economy. The study was informed by the persistent increase in the budget deficit in Kenya amidst economic stagnation and macroeconomic instability. This therefore led to an attempt to establish the effect of selected macroeconomic variables on the budget deficit in Kenya. The specific objectives were to determine the effect of interest rates; exchange rate; inflation and money supply on budget deficit in Kenya. The study sought to evaluate the significant effect of the selected macroeconomic variables on budget deficit in order to formulate the policy consideration to the economic problem. The study was guided by the Keynesian which was the main theory of the study. The Mundell-Fleming and Ricardian Equivalence theories were also employed as addition theories to back up the study. The study methodology was based on an explanatory design for time series data covering 30 years from 1991 to 2020. Autoregressive distributed lag error correction model (ARDL) estimation was adopted to analyze and infer results of the study. The CUSUM model stability test indicated that the model was stable and the model coefficient was reliable. Diagnostic test results showed there was no autocorrelation (p=0.1510>2.062), no heteroscedasticity (p=0.0903>21.47), and there was no multicollinearity (vif=1.34). Shapiro wilk normality test indicated that the variables of the study were normally distributed. The ADF unit root test indicated that there was unit root and co-integration test confirmed that the variables had a long run relationship. The findings of the study were: interest rate had a positive significant effect on budget deficit in the long run ( β_1=0.0404, <0.05); exchange rate had a positive significant effect on budget deficit ( β_2=0.4189, <0.05); inflation had a negative insignificant effect on budget deficit ( β_3=-0.001, >0.05). Money supply had a positive insignificant effect on Budget deficit ( β_4=0.00004, >0.05). The ARDL long-run results showed that the explanatory variables had Adjusted R2=0.4666 impact on the budget deficit and an F-statistics of 135.5802. The study therefore concluded that interest rate had a positive effect on the budget deficit in the long run. Increasing interest rates in the economy ends up driving budget deficit upwards in the long run. The same was true when the variable of concern is exchange rate. The study findings recommend that there is need for the government to ensure there is stability in macroeconomic variables. This is because there was a significant link between the budget deficit and the selected macroeconomic variables. A strive by the government to reduce budget deficit would mean an adjustment in macroeconomic variables to suit the purpose. These adjustments may include reducing the interest rate in the economy. A reduction in the interest rates in the economy would end up reducing the budget deficit.

The Effect Of Technology Acceptance Model On Online Shopping Behavior On Generation Z

Abstract: The study is aimed to develop a model that predict intention to shop online on Generation Z. the factors is derived from TRA and TPB that included perceived usefulness, perceived ease of use, and attitude toward online shopping. SEM-PLS used to analyze the data from 287 respondents. The result is that all of the hypotheses are significant which concluded that there is significant impact of perceived usefulness and perceived ease of use toward intention to shop online through attitude toward online shopping.

Macroeconomic Drivers of Economic Growth

Abstract: Kenya's GDP growth is hampered by high fiscal deficits, high interest rates, and volatile exchange rates. As a result, the economy has experienced sluggish cycles of low economic growth, prompting policymakers to revise their policies. Kenya's ability to address macroeconomic instability hinges on its ability to increase economic growth. Divergent perspectives on the relationship between selected macroeconomic variables and economic growth is revealed by additional evidence. The goal of this research was to see how certain macroeconomic drivers affected economic growth. The study was based on the theory of endogenous growth. The study, which was based on the philosophical paradigm of positivism, used an explanatory research design and secondary data from the Kenya Bureau of Statistics, which covered the years 1990 to 2020. In the empirical analysis, the study used the bound test to test for a long-run relationship and the Autoregressive Distributed Lag model (ARDL) to evaluate the relationship between the variables. The data was tested for stationarity using the Augmented Dickey Fuller method. The long run ARDL results showed that the coefficients of exchange rate 0.080 (p-value 0.033 < 0.05), lending interest rate -0.172 (p-value 0.011 < 0.05), and broad money supply 0.242 (p-value 0.001 < 0.05) all had a significant impact on economic growth. The results of this study will be useful in forming fiscal and monetary policy, as well as in informing the government about potential solutions to economic growth challenges. According to the study, CBK policymakers should pursue policies that ensure exchange rate stability, determine effective lending interest rates, and keep the fiscal deficit in line with Kenya's economic growth.

The Effect of Price and Product Quality on Purchasing Decisions of Teh Hitam Celup Tambi (Study on Consumers of PT Perkebunan Tambi Wonosobo)

Abstract: PT Perkebunan Tambi is a tea company in Wonosobo district which produces various kinds of tea, one of which is the Tambi Black Tea. Based on sales data for Tambi Black Tea Dips from 2017 to 2021 sales of Tambi Dip Black Tea are very volatile, especially in 2020 it experienced a very drastic decline reaching -68.9% as a result of the impact of the Covid-19 pandemic. This study aims to prove the effect of price and product quality on purchasing decisions of Tambi Black Tea Celup in Wonosobo. This type of research is explanatory research with purposive sampling and accidental sampling techniques. Data collection used in this study by submitting questionnaires to respondents. The number of samples in this study amounted to 97 respondents in Wonosobo Regency who had bought or consumed Tambi Dip Black Tea. The data analysis method used was validity test, reliability test, correlation coefficient, determination coefficient test, simple regression analysis and multiple regression analysis, then significance test (t test and F test) using the SPSS for Windows version 25.0 program. The results of this study show that partially price contributes 25.7% and product quality 27.2% to purchasing decisions. Meanwhile, price and product quality simultaneously contributed 30.9% to purchasing decisions. Based on these results, it can be seen that the price partially has a significant negative effect on the purchasing decision variable. Product quality partially has a significant positive effect on purchasing decision variables. Price and product quality simultaneously have a significant influence on purchasing decision variables. Suggestions from this study are for companies to evaluate pricing and product packaging as well as procedures for presenting products so that they can attract consumers to purchase Tambi Celup Black Tea.

The Effect of Martial Law on Transfer Pricing in Ukraine

Abstract: The purpose of this study was to describe the current state of tax control over transfer pricing in Ukraine. Analysing the effect of war and martial law on the tax system on the whole and transfer pricing as well, I would like to say that the situation shook the system, but nevertheless, it managed to rehabilitate itself and survive, in turn, standing on wartime slats. The practical significance of the study lies in the complex analysis and evaluation of the current situation of the transfer pricing processes taking place in Ukraine. For Ukraine, in practice, the experience of European countries and case law can be found, which have formed a number of important and progressive legal positions and conclusions to improve control in the field of transfer pricing. The practical novelty of the obtained results consists in a comprehensive analysis of the impact of transfer pricing on the current state of tax management in general. While the EU countries and the UK introduce additional temporary taxes on excess profits on electricity production between 2021 and 2023, as well as on excess profits received from activities in the oil, gas, coal and oil refining sectors, Ukraine introduces an income tax for all companies in any industries in the amount of 2% of the turnover, in order to keep the business afloat. In particular, I would like to note the effectiveness of the work within the framework of the EU4PFM international project, which made it possible, even in wartime, not only to preserve the achievements of pre-war times, but also to start the development of new software products and OECD support for the harmonization of Ukrainian legislation with EU norms in the context of the further integration of Ukraine into the European Union. The main goal of this work is to determine the effectiveness of transfer pricing in Ukraine today, as well as to assess the development prospects for Ukraine in this direction.

A Study of The Effect of Brand Ambidexterity on Brand Performance, Brand Reputation and Brand Commitment (Case Study: Kaleh Brand in Iran)

Abstract: Today, brand is a strategic requirement for organizations, which allows the creation of greater values for customers and sustainable competitive advantages of companies. Creating a strong brand in the market is the primary goal of many organizations. A strong brand can build up customer confidence for the purchase of goods and services, giving them a greater appreciation of the intangibles. Given the importance of the brand in marketing studies, this paper was conducted to investigate the effect of brand ambidexterity on brand performance and commitment. The research population consists of all customers of Kaleh brand in Rasht, Iran. Since the population size was not known, a sample size of n= 384 people was selected using the Cochran's formula for infinite population as well as Krejcie & Morgan table to ensure sampling adequacy. Structural equation modeling (SEM) using partial least squares (PLS) method were also used for data analysis. The results show that brand ambidexterity (exploitation and exploration) affects brand performance. The results also suggested that brand performance affects brand image, brand reputation and brand commitment.

The Influence of Debt to Equity Ratio and Current Ratio to Return on Equity and Price to Book Value: Subsector Food and Baverages Industry of Company Listedat Indonesian Stock Exchange Period 2014-2019

Abstract: Market confidence in a company is determined by the size of the company's value. This trust is not only in the current financial performance but includes the company's prospects in the future. Reilly & Brown (2011) said that among the methods that can be used to determine firm value is by comparing stock prices to relevant variables that affect the stock value such as price to book value (PBV). The price to book value (PBV) is the comparison between the market price per share and the book value per share or the comparison between the market value (market price) and its book value (original value). Based on previous research, there are several factors that can affect firm value, including: funding decisions, dividend policy, investment decisions, CSR, company growth, and company size. Some of these factors have an inconsistent relationship and influence on firm value. This study aims to determine the effect of DER and CR on ROE and PBV in the Food and Beverages industry sub-sector companies listed on the Indonesia Stock Exchange for the period 2014-2019. The company that became the population in this study were 32 with a sample of 12 companies determined by purposive sampling method. Research data processing and hypothesis testing using path analysis techniques with SPSS version 22 application tools. The results of this study indicate that, simultaneously or partially DER and CR have a positive and significant effect on ROE, DER and CR simultaneously have a negative and significant effect on PBV, but partially DER and CR have a negative and insignificant effect on PBV. ROE has a positive and significant effect on PBV, and ROE is proven to be an intervening variable or a mediating variable for the effect of DER and CR on PBV.

Analysis of the Effect of Profitability, Company Size and Growth Opportunity toward Firm Value with Capital Structure as Intervening Variable in Consumer Goods Companies Listed on Indonesia Stock Exchange period 2018-2020

Abstract: This research was conducted to analyze whether profitability, company size and growth opportunity influence firm value with capital structure as an intervening variable toward consumer goods companies listed on Indonesia Stock Exchange period 2018-2020.This research selects 30 consumer goods companies listed on Indonesia Stock Exchange periode 2018 to 2020 as research objects using purposive sampling method. The results show that Profitability and Firm Size have a positive and significant effect on Capital Structure, while Growth Opportunity have no significant effect on Capital Structure. Profitability and Capital Structure have positive significant effect on firm value, while firm size and growth opportunity have no significant effect on firm value. Capital Structure cannot be intervening variable toward the effect of Profitability, Company Size and Growth Opportunity on Firm value.