Profitability of Contrarian Strategies: Evidence From the Stock Exchange of Mauritius

The aim of this paper is to assess the profitability of contrarian strategies on the Stock exchange of Mauritius. Using data from 2001 till 2009 for all 40 listed companies on the official market, the study shows little support in favour of the contrarian effect. In particular, the losers portfolio seems to outperform the winners portfolio in one out of nine strategies. However, when considering the market return, negative excess returns are noted for all portfolios across all strategies, providing strong support for a passive portfolio management strategy and weak support for overreaction hypothesis. In addition, the Size, Price, Earnings to Price (E/P) and Book to Market (B/M) Effect has been tested. The results suggest that the average market return is greater than size-based portfolios and price-based portfolios. However, when accounting for the E/P and the B/M effect, there seems to be a strategy which can beat the market. Nevertheless, most strategies for E/P and B/M portfolios indicate insignificant excess returns. In general, the results of this paper are undoubtedly in sharp contrast with most popular studies in developed markets. However, it is observed that investors on the SEM may not possess similar characteristics to those of well-advanced markets. In particular, according to Harvey (1995), emerging market countries are sometimes relatively isolated from capital markets of other countries

Analisis Tingkat Pelayanan Jalan Andi Djemma Kota Makassar

Kota Makassar yang merupakan salah satu kota metropolitan di Indonesia yang berkembang sangat pesat. Pembangunan yang terjadi seiring dengan pertumbuhan ekonomi kota Makassar yang berada di atas pertumbuhan ekonomi nasional. Salah satu pembangunan yang juga memberikan pelayanan kepada masyarakat yaitu pelayanan jalan raya dalam mendukung perkembangan transportasi darat di Kota Makassar. Penelitian ini bertujuan untuk: 1) menggambarkan kondisi fasilitas ruas jalan Andi Djemma , dan 2) menjelaskan tingkat pelayanan ruas jalan Andi Djemma . Penelitian ini merupakan penelitian survei. Waktu penelitian dilakukan pada bulan Mei s/d Oktober 2017. Survei arus lalu lintas dilakukan selama sepekan dengan periode waktu pukul 07.00 – 09.00; 12.00 – 14.00; dan 16.00 – 18.00. Variabel pada penelitian ini adalah 1) Kapasitas ruas jalan, 2) Tingkat pelayanan ruas jalan, dan 3) Persepsi masyarakat. Teknik pengumpulan data yang digunakan adalah metode survei dengan cara pengamatan dan perhitungan lalu lintas dilapangan dengan secara langsung. Survey arus lalu lintas dilakukan dengan perhitungan manual. Teknik analisis data yang digunakan dalam mengolah hasil penelitian adalah analisis deskriptif kuantitatif. Hasil penelitian menunjukkan bahwa 1) Fasilitas jalan Andi Djemma belum memadai seperti marka jalan, rambu, trotoar, dan zebra cross; dan 2) Pelayanan jalan Andi Djemma mencapai tingkat F, yang berarti sering terjadi kemacetan. Hal ini terutama disebabkan oleh Volume lalu lintas dan Hambatan Samping

Analisis Dinamika Ketahanan Pangan di Kabupaten Jember

Food stability is not only in term of enough food availability but also capability to access including to buy food and there is no dependency to another countries. The research focused in Jember Regency. The research was aimed to explain that the enough food availability is not meant guarantee the food stability particularly for household rate. The analyze method that used are descriptive, stability food analyse that conducted by Sumarwan and Sukandar (1998) and Angka Kecukupan Gizi/AKG (nutrient sufficiency number) for household that including energy sufficiency rate and protein sufficiency rate. The results show that (1) the available food in Jember Regency in 1991 – 2006 for six commodity including rice and corn are surplus, whereas soybean, peanut, cassava and sweet potato are minus, (2) Arjasa and Jelbuk subdistrict are linear decreasing in stability food, (3) AKG average number in Panduman village, Jelbuk Subdistrict as 59,51% that meant have not food stability category, (4) AKG average in Puger Wetan Village, Puger Subdistrict as 80,39% that meant have food stability category. Keywords: Stability food, Availability food, Household stability food and AK

Etos Kerja Pegawai Negeri Sipil pada Kantor Kecamatan Galesong Selatan Kabupaten Takalar

: Etos kerja menjadi salah satu tolok ukur terhadap keberhasilan Pegawai Negeri Sipil dalam melaksanakan pekerjaannya sebagai abdi negara dan abdi masyarakat. Penelitian ini ditujukan untuk memperoleh informasi dan menjelaskan mengenai etos kerja Pegawai Negeri Sipil pada Kantor Kecamatan Galesong Selatan. Metode penelitian yang digunakan adalah deskriptif-kuantitatif yang dimaksudkan untuk menggambarkan data penelitian secara interpretatif berlandaskan teori dengan menggunakan tabel frekuensi skor. Hasil penelitian menunjukkan bahwa etos kerja pegawai negeri sipil ditinjau dari aspek ide individualisme / independensi termasuk kategori baik. Namun demikian, indikator manajemen waktu ternyata termasuk dalam kategori buruk disebabkan masih banyak pegawai yang belum dapat mengelola waktunya dengan baik dalam melaksanakan pekerjaannya. Di samping itu, etos kerja pegawai negeri sipil ditinjau dari aspek pengaruh positif bekerja terhadap individu termasuk dalam kategori sangat baik, yang ditunjukkan dari bagaimana pegawai pada kantor tersebut melaksanakan tugas dan tanggung jawabnya dengan baik karena setiap pegawai selalu beranggapan bahwa pekerjaan yang ia kerjakan akan menghasilkan sebuah pengaruh yang positif bagi meraka. Oleh karena itu, manajemen waktu yang baik sangat diperlukan demi terwujudnya efektivitas dan efisensi dalam penyelenggaraan pemerintahan di Kantor Kecamatan Galesong Selatan.Kata kunci : Etos kerja, Pegawai negeri sipil, Kantor kecamatan. Abstract : Work ethic became one of the benchmarks for the success of the Civil Service in carrying out his job as a public servant. This study aims to obtain information and explain about the work ethic of the Civil Service in South Galesong District. The method used is descriptive-quantitative method that intended to describe the data in interpretive research based theory using frequency table scores. The result of this study showed that the work ethic of civil servants, in terms of individualism/independency aspects, is categorized good. However, in terms of time management indicator is categorized bad because still there are many employees have not been able to manage their time properly in doing their job. In addition, the work ethic of civil servants in terms of positive influence aspects to individuals is categorized excellent that showed in how well the employees carrying out their duties and responsibilities. This was based on the view of every employee that often assumes the work he is doing will produce a positive influence on himself. Therefore, adequate time management is necessary in order to achieve effectiveness and efficiency in governance at South Galesong Subdistrict.Keywords : Work ethics, Civil service, Office of subdistrict

Study on Comparative Advantage of Mining Sector in South Sulawesi Province, Indonesia

Mining sector is an important sector that contributes to regional development therefore, it has to be managed sustainably. This became basis of this study. Problem examined was comparative advantage of  mining toward South Sulawesi. This study used multidimensional scaling and input-output analysis. Those analyses used input-output table data of 2010 in classification of 11 economic sectors and GDRP of 24 districts/cities of South Sulawesi in 2012-2016 which was obtained from BPS (Central Bureau of Statistics) South Sulawesi. Results showed that final value of the mining sector in South Sulawesi was Rp9,007,814,000,000, describing role of mining sector as relatively small compared to other sectors. Shift share described economic growth of mining sector in Luwu Timur was faster than other districts. Export base (LQ) and shift share ere indicators that showed that Luwu Timur was superior to other districts. LQ value from Luwu Timur was 9.39 indicating that mining sector was self-sufficient and able to fulfill its need from its own production. Multidimensional scaling analysis in perceptual map showed that the mining sector in East Luwu had comparative advantage based on LQ and shift share. Perceptual Map showed that Luwu Timur was the district that held the largest role in mining sector in economy of South Sulawesi when compared to other. This role was due to existence of the operated largest nickel laterite mining company in Indonesia

Penetapan Rekomendasi Pemupukan N, P, Dan K Tanaman Duku Berdasarkan Analisis Daun

Duku mempunyai perakaran yang dalam, sehingga sulit untuk memperoleh sampel tanah yang representatif pada daerah tersebut, sehingga lebih tepat menggunakan analisis daun. Status hara daun merupakan gambaran status hara aktual dalam tanah. Penelitian bertujuan untuk menentukan kategori status hara N, P, dan K, serta rekomendasi pemupukan optimum berdasarkan status hara tersebut pada tanaman duku. Penelitian dilaksanakan di Kecamatan Kumpeh Ulu, Kabupaten Muaro, Jambi pada Bulan Desember 2008 sampai dengan April 2012. Rancangan penelitian menggunakan acak kelompok dengan lima ulangan. Perlakuan dosis pupuk N (0, 400, 800, 1.200, dan 1.600 g N) , P (0, 500, 1.000, 1.500, dan 2.000 g P2O5), K (0,600, 1.200, 1.800, dan 2.400 g K2O/tanaman/tahun). Hasil penelitian menunjukkan bahwa status hara N sangat rendah (< 1,81%), rendah (1,81 ≤ N < 2,82%), dan sedang (≥ 2,82%), status hara P sangat rendah (< 0,09%), rendah (0,09 ≤ P < 0,17%), dan sedang (≥ 0,17%), serta status hara K sangat rendah (< 1,16%), rendah (1,16 ≤ K < 2,19%), dan sedang (≥ 2,19%). Rekomendasi pemupukan pada tanaman duku untuk status hara sangat rendah yaitu 858 g N, 1.770 g P2O5, dan 1.900 g K2O/tanaman/tahun, untuk status hara rendah, 588 g N, 1.335 g P2O5, dan 1.107 g K2O/tanaman/tahun, sedangkan berdasarkan pendekatan multinutrien 920 g N, 1.565 g P2O5, dan 1.488 g K2O/tanaman/tahun (biaya produksi terendah). Rekomendasi pemupukan N, P, dan K berdasarkan analisis daun dapat diterapkan pada pertanaman duku di Indonesia dan meningkatkan produksi serta kualitas buah duku. Duku has been deep roots making it difficult to obtain a representative sample of soil at the root zone, so the more appropriate used of leaf analysis. Leaf nutrient status was picture of the actual nutrient status of the soil. The aimed of this study was to determine leaf N, P, K level category and recommendation study determine the optimum fertilizer rate for each nutrient level category on duku plant. The experiment was conducted at Kumpeh Ulu District, Muaro Jambi Regency, in Jambi Province, from December 2008 to April 2012. Each treatments were arranged in randomized block design with five replications. The treatments were N (0, 400, 800, 1,200, 1,600 g N/plant/year), P (0, 500, 1,000, 1,500, 2,000 g P2O5/plant/year), and K (0, 600, 1,200, 1,800, 2,400 g K2O/plant/year). The results showed that leaf nutrient status of N was very low (< 1.81%), low (1.81 ≤ N < 2.82%), and medium (≥ 2.82%), status of P was very low (< 0.09%), low (0.09 ≤ P < 0.17%), and medium (≥ 0.17%); status of K was very low (< 1.16%), low (1.16 ≤ K < 2.19%), and medium (≥ 2.19%). Fertilizer recommendation rate on duku plant for very low nutrient status were 858 g N, 1,770 g P2O5, and 1,900 g K2O/plant/year, low nutrient status were 588 g N, 1,335 g P2O5, and 1,107 g K2O/plant/year, multinutrient approach were 920 g N, 1,565 g P2O5, dan 1,488 g K2O/plant/year (lower production cost). Recommendation of fertilizer N, P, and K based on leaves analysis can be applied on duku in Indonesia and increase production and fruit quality of duku