77,594 research outputs found
Why CEOs invest in Corporate Social Responsibility initiatives: evidence on Shariah compliant firms
No full textThe aim of this article is to investigate the motivation of CEOs to invest in Corporate Social Responsibility (CSR) activities. To carry out this analysis, we assess a sample of US conventional and Shariah Compliant (SC) firms, from Dow Jones Indices. As SC firms undergo business and financial screening, they are expected to follow different managerial styles and capital structures as compared to conventional firms. This comparison is important in view of the growing size of the Islamic Financial Services Industry that has surpassed total asset values of USD 2.00 Trillion. Existing literature argues that, for conventional firms, CEOs spend on CSR either to promote their private benefits (agency view) or to reduce conflicts among shareholders (conflict resolution view). Our results provide evidence that across both types of firms, CEOs do not invest in CSR initiatives to pursue selfish motives but to resolve conflicts among stakeholders to maximize firm value. The findings are also robust across different specifications and methods in order to address endogeneity issues. This article contributes to the growing literature on managerial styles, capital structure and Islamic Finance, carrying out important implications for the investment industry and for the long-term value of the firm
Financial Analysis in Predicting Potential Bankruptcy Before and During Covid-19 Pandemic Using Z-score Method (Case Study at PT. Air Asia Indonesia Tbk, PT. Panorama Sentrawisata Tbk, and PT. Hero Supermarket Tbk)
No full textFinancial Analysis in Predicting Potential Bankruptcy Before and During Covid-19 Pandemic Using Z-score Method (Case Study at PT. Air Asia Indonesia Tbk, PT. Panorama Sentrawisata Tbk, and PT. Hero Supermarket Tbk)
Thesis by: Siti Fathonah Ulul Azmi
Thesis Advisor: Drs. Riwayadi, MBA, Ak, CA, CPMA., CSRA., CRP
ABSTRACT
This study aims to analyze the financial condition of company before and during covid-19 pandemic using the method of predicting potential bankruptcy, namely Altman Z-score method against three companies from different business sector. The type of this study is descriptive research and used quantitative data obtained from the official websites of the Indonesia Stock Exchange. The results of the Altman Z-score method indicate that the financial condition of PT. Air Asia Indonesia Tbk is -9.66 (2019) and -13.00 (2020), which means the company was in a distress zone both before and during the covid-19 pandemic. PT. Panorama Sentrawisata Tbk was in a gray zone with a z-score of 1.57 (2019) before the pandemic and distress zone during the pandemic with the z-score amount is -0.39 (2020). Meanwhile, PT. Hero Supermarket Tbk before the pandemic is in the safe zone as indicate by z-score 3.06 (2019), but during the pandemic the financial condition becomes worse or distress as indicate by z-score 1.27 (2020).
Keywords: Financial Analysis, Financial Distress, Altman Z-score, Bankruptcy, Covid-19
The Benefits of Being Economics Professor A (and not Z)
No full textAlphabetic name ordering on multi-authored academic papers, which is the convention in the economics discipline and various other disciplines, is to the advantage of people whose last name initials are placed early in the alphabet. As it turns out, Professor A, who has been a first author more often than Professor Z, will have published more articles and experienced afaster growth rate over the course of her career as a result of reputation and visibility. Moreover, authors know that name ordering matters and indeed take ordering seriously: Several characteristics of an author group composition determine the decision to deviate from the default alphabetic name order to a significant extent.performance measurement, incentives, economists, name ordering
Final word on Jersey Dutch
No full textIn this article, William Z. Shetter compares and contrasts the dialects that developed between different Dutch colonies in the New World. He explores in-depth the nuances of Jersey Dutch, and provides theories to explain how Dutch and colonial languages blended. The article is reprinted from American Speech, December 1958, Volum XXXIII, No. 4
ANALISIS PENGELOLAAN DANA ZAKAT PRODUKTIF PROGRAM Z-MIE GAESS UNTUK MENINGKATKAN PRODUKTIVITAS USAHA MUSTAHIQ BAZNAS KABUPATEN TULUNGAGUNG
No full textSkripsi dengan judul “Analisis Pengelolaan Dana Zakat Produktif Program Z-MIE GAESS Untuk Meningkatkan Produktivitas Usaha Mustahiq BAZNAS Kabupaten Tulungagung” yang ditulis oleh Muhammad Wifaqul Azmi, NIM.126404203061. Fakultas Ekonomi dan Bisnis Islam, Jurusan Bisnis dan Manajemen, Program Studi Manajemen Zakat dan Wakaf, Universitas Islam Negeri Sayyid Ali Rahmatullah Tulungagung yang dibimbing oleh Dr. Ahmad Supriyadi, M.Pd.I.
Kata kunci: Zakat produktif, pemberdayaan ekonomi, mustahiq, BAZNAS, Z-MIE GAESS
Penelitian ini dilatarbelakangi oleh peran strategis zakat produktif dalam meningkatkan kemandirian ekonomi mustahiq. Fokus penelitian diarahkan pada Program Z-MIE GAESS yang digagas BAZNAS Kabupaten Tulungagung sebagai inovasi pemanfaatan dana zakat untuk usaha kuliner berbasis mie. Tujuan penelitian ini adalah untuk menganalisis pengelolaan zakat produktif melalui program Z-MIE GAESS dan menilai dampak program Z-MIE GAESS terhadap produktivitas usaha mustahiq.
Metode yang digunakan adalah penelitian kualitatif dengan pendekatan deskriptif. Data diperoleh melalui observasi, wawancara mendalam, dan dokumentasi di Kantor BAZNAS Kabupaten Tulungagung serta pada beberapa mustahiq penerima program. Analisis data dilakukan dengan model Miles, Huberman, dan Saldana melalui tahapan kondensasi data, penyajian data, dan penarikan kesimpulan.
Hasil penelitian menunjukkan bahwa pengelolaan dana zakat produktif dalam Program Z-MIE GAESS dilakukan secara sistematis melalui tahapan sosialisasi, seleksi penerima berdasarkan SKTM, usia produktif, dan komitmen, pelatihan pembuatan mie, pemberian sarana usaha berupa rombong dan perlengkapan dagang, serta monitoring dan pendampingan. Program ini sesuai dengan prinsip zakat produktif menurut Yusuf Qardhawi, yaitu pemberdayaan dan kemandirian mustahiq. Namun, efektivitasnya belum maksimal karena pendampingan masih bersifat administratif, keterbatasan akses pasar, serta lemahnya inovasi usaha.
Dampak program menunjukkan hasil yang beragam. Sebagian kecil mustahiq yang mampu bertahan dan berinovasi sehingga usahanya berkembang. Namun mayoritas peserta tidak dapat melanjutkan usaha karena lemahnya mental kewirausahaan, kurangnya perencanaan usaha, serta rendahnya minat pasar. Dengan demikian, keberhasilan program sangat dipengaruhi oleh kombinasi modal ekonomi, mental kewirausahaan, dan pendampingan berkelanjutan
Logarithmic variance profiles and the corresponding f-1 spectra of temperature fluctuations in turbulent Rayleigh-Bénard convection
No full textWe report experimental results for the temperature variance 2(z) and the corresponding frequency spectra P(f) in turbulent Rayleigh-Bénard convection (RBC) in a cylindrical sample of aspect ratioT= D/L = 1:00 (D = 1:12 m is the diameter and L = 1:12 m the height). The measurements were conducted in the Rayleigh-number range 1011 < Ra < 1:35 1014 and Pr ' 0:8. For Ra = 1:35x1014, 2(z) could be described well by a logarithmic dependence on the vertical position z in a range of z 1 < z < z 2 with z 1 ' 70 and z 2 = 0:1L. Here L=(2Nu) is the thickness of a thin thermal sublayer adjacent to the horizontal plate where the heat flux (denoted by the Nusselt number Nu) is carried mostly by thermal diffusion. In the log layer, we found that the temperature spectra had a significant frequency range over which P(f) f with close to 1. As Ra decreased, increased so that the log layer became thinner. At Ra = 2:05 1011, z 2 < z 1 and therefore there was no range for a log layer. Correspondingly, the temperature spectrum near the horizontal plate did not have the f1 scaling form either
Statistics of the subgrid scales after the shock-turbulence interaction
No full textThe interaction of a normal shock with isotropic turbulence (IT) represents a basic problem for studying some of the phenomena associated with high speed flows, such as hypersonic flight, supersonic combustion and Inertial Confinement Fusion (ICF). In general, in practical applications, the shock width is much smaller than the turbulence scales and the upstream turbulent Mach number is modest. In this case, recent high resolution shock-resolved Direct Numerical Simulations (DNS) (Ryu and Livescu, J. Fluid Mech., 756, R1, 2014) show that the interaction can be described by the Linear Interaction Approximation (LIA). By using LIA to alleviate the need to solve the shock, DNS post-shock data can be generated at much higher Reynolds numbers than previously possible. Here, such results with Taylor Reynolds number around are used to investigate the properties of the subgrid scales (SGS). In particular, it is shown that the shock interaction decreases the asymmetry of the SGS dissipation PDF as the shock Mach number increases, with a significant enhancement in size of the regions and magnitude of backscatter
Transition to turbulence in a qblique shock-wave/boundary-layer interaction at M=15
No full textDirect numerical simulations are carried out for different forcing techniques to trigger transition during the interaction between an oblique shock-wave and a laminar boundary-layer at M = 1.5. Three forcing methods are used: a) forcing of oblique unstable modes, whose shape and behaviour are determined by the local linear stability theory, b) broadband free-stream acoustic disturbances, and c) a cold plasma flow control device. While the oblique-mode breakdown is dominant for low-amplitude forcing, long streaky structures drive the transition process in a high-amplitude disturbance environment. LES are also performed on the experimental setup by the Institute of Theoretical and Applied Mechanics (ITAM) from Novosibirsk State University with cold plasma actuation. As well as the disturbance type, the effect of Reynolds number and forcing amplitude will be investigated
Triangular Constellations in Flows
No full textParticles advected on the surface of a fluid can exhibit fractal clustering. The local structure of a fractal set is described by its dimension , which is the exponent of a power-law relating the mass in a ball to its radius : . It is desirable to characterise the {\em shapes} of constellations of points sampling a fractal measure, as well as their masses. The simplest example is the distribution of shapes of triangles formed by triplets of points, which we investigate for fractals generated by chaotic dynamical systems. The most significant parameter describing the triangle shape is the ratio of its area to the radius of gyration squared. We show that the probability density of has a phase transition: is independent of and approximately uniform below a critical flow compressibility , which we estimate. For the distribution appears to be described by two power laws: when , and when
Preferential concentration of particles in compressible turbulence
No full textThe behavior of particles in compressible turbulence has been seldom investigated to date despite its importance in many natural and industrial flows. Direct numerical simulations of particle-laden compressible isotropic turbulence are performed to study the preferential concentration of particles and the underling mechanisms. It turns out that heavy particles tend to concentrate in regions of low enstrophy and high fluid density (i.e, strain regions between vortex rings), especially the particles of Kolmogorov scale, which show the largest number density. Due to the compressibility, fluid particles do not distribute uniformly as in incompressible case, but show a tendency to bunch up in high density zones. The preliminary result might give some insights into compressible turbulent transport, dispersion and mixing as well as the subgrid-scale modeling for large-eddy simulation of particle-laden compressible flows
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