How financial liberalization in Indonesia affected firms'capital structure and investment decisions

How did financial liberalization affect Indonesian firms? The authors analyzed real and financial indicators for the establishments in their panel of Indonesian manufacturing establishments for 1981-88. Their sample was not representative, but their evidence shows that economic reform had favorable effect on the performance of smaller firms. Liberalization helped reallocate domestic credit toward smaller firms to a level roughly proportionate to their contribution to value-added. Moreover, other firms were successful in replacing expensive domestic credit with cheaper foreign credit, releasing some domestic credit to establishments that lacked access to it. Nominal and real interest rates rose to very high levels, but real returns to capital assets remain high and have increased substantially for small and medium-size exporting establishments. For all groups, higher rates of financial leverage gave rise to extremely high returns on owned equity. Medium-size firms - both conglomerate and non-conglomerate - have had the highest rates of return to capital, financial leverage, and returns to equity. Financial reform has had a significant impact on firm's real and financial choices. Shifting from administrative allocations of credit to market-based allocations has increased borrowing costs, particularly for smaller firms, but it has also widened access to finance. The net effect appears to have been a decrease in the degree of market segmentation and a relaxation of financial constraints to the benefit of investment activity.Banks&Banking Reform,Environmental Economics&Policies,Financial Intermediation,Economic Theory&Research,Financial Crisis Management&Restructuring

Konsep Perubahan Hukum Dalam Menghadapi Perkembangan Teknologi

lmu pengetahuan dan teknologi adalah salah satu contoh dari hasil olah pikiran manusia yang kemudian disebut kebudayaan. Iptek terus berkembang sejalan dengan perkembangan manusia itu sendiri. Perkembangan Iptek harus juga sejalan dengan perkembangan hukum, agar tidak ada benturan hukum antar manusia sebagai pengguna Iptek. Penelitian ini merupakan penelitian kualitatif bersifat deskriptif, dengan jenis penelitian hukumnya adalah penelitian hukum normative. Hasil penelitian adalah menyimpulkan bahwa perubahan hukum dalam masyarakat diusahakan agar dapat menampung segala perkembangan baru, oleh karena itu hukum harus selalu berada bersamaan dengan peristiwa yang terjadi sesuai dengan pandangan modern, dan dalam membuat aturan undang-undang mengenai Teknologi Rekayasa Genetika khususnya terhadap manusia, pemerintah harus benar-benar memperhatikan konsep dasar dan tujuan undang-undang tersebut sesuai dengan jiwa bangsa Indonesia yang mencakup akal, rasa,kehendak, aspek raga, aspek individu, aspek makhluk sosial, aspek pribadi dan juga aspek kehidupan ketuhanannya.

PEMBENTUKAN KARAKTER DAN ETIKA ANAK SEJAK DINI DI DESA MERUBUN JAYA, KAB. SIMALUNGUN

Pembentukan karakter dan etika anak sangat penting dimulai mereka sejak dini, karena ketika anak kecil mereka lebih gampang meyerap apa yang diperbuat oleh yang lebih dewasa. Misalnya pada orangtua ataupun guru. Tujuan utama kegiatan KKN (Kuliah Kerja Nyata) ini adalah untuk menanamkan serta dapat menumbuhkan dan memberikan penguatan kepedulian masyarakat terutama orang tua desa Marubun Jaya pada lingkungan sosial-budaya sekitar dalam pembentukan pendidikan norma, etika dan karakter pada jaman saat ini. Penelitian ini menggunakan metode kualitatif, dengan teknik observasi, wawancara, pembelajaran dan dokumentasi. Program kerja ini melibatkan guru ngaji, guru sekolah MTs Muhammadiyah Marubun Jaya, orang tua, masyarakat/ warga sekitar, anak – anak yang diawali dengan pengamatan aktif. Hasil kegiatan KKN (Kuliah Kerja Nyata) ini memberikan hasil bahwasanya dengan terciptanya pembentukan etika dan karakter anak terhadap sekitar, anak – anak desa Marubun Jaya lebih menanggapi tentang pentingnya menjaga etika dan karakter. 30 hari kami melakukan pendekatan dan pengimplementasian kepada anak – anak dengan melalui kegiatan pemberantasan buta huruf Al – Quran membuat anak – anak lebih antusias. Maka dari itu, orang tua dan anak perlu dorongan secara bertahap dan  berkelanjutan dalam pembentukan etika dan karakter yang  berpotensi terhadap pribadi anak di masyarakat

Pertanggungjawaban Perusahaan Induk terhadap Perusahaan Anak dalam Hal Terjadinya Pencemaran Dan/atau Kerusakan Lingkungan Hidup

Group corporation as one of the effects of the fast growing economy, in the activities can also play a role in terms of pollution and/or environmental damage done by one or several subsidiaries. In this regard, the parent corporation may be subject to liability in certain cases where there is contamination and/or damage to the environment done by the subsidiary. Based on the results of research, it can be seen that the legal relationship between the parent corporation to the subsidiaries is the employment relationship or other relationship within the scope of work of the enterprise. The parent corporation may be subject to civil liability for pollution and/or environmental damage done by the subsidiary if the parent corporation controls the subsidiaries proven to perform actions within the scope of application of piercing the corporate veil. In addition, the parent corporation may also incur criminal liability if it is proved the parent corporation were also committing a crime of pollution and/or environmental damage done by the subsidiary. Based on this research, it is advisable to make a special provision of group companies in Limited Company Act. In addition, it should be prioritizing the use of criminal law in a law enforcement environment that affects the survival of human beings, as well as the need to increase the moral of businessmen for committing violations of environmental laws

Urban coral reefs: Degradation and resilience of hard coral assemblages in coastal cities of East and Southeast Asia

© 2018 The Author(s) Given predicted increases in urbanization in tropical and subtropical regions, understanding the processes shaping urban coral reefs may be essential for anticipating future conservation challenges. We used a case study approach to identify unifying patterns of urban coral reefs and clarify the effects of urbanization on hard coral assemblages. Data were compiled from 11 cities throughout East and Southeast Asia, with particular focus on Singapore, Jakarta, Hong Kong, and Naha (Okinawa). Our review highlights several key characteristics of urban coral reefs, including “reef compression” (a decline in bathymetric range with increasing turbidity and decreasing water clarity over time and relative to shore), dominance by domed coral growth forms and low reef complexity, variable city-specific inshore-offshore gradients, early declines in coral cover with recent fluctuating periods of acute impacts and rapid recovery, and colonization of urban infrastructure by hard corals. We present hypotheses for urban reef community dynamics and discuss potential of ecological engineering for corals in urban areas

Minat Petani Dalam Menggunakan Fungisida Nabati Sebagai Pencegah Penyakit Antraknosa Pada Tanaman Cabai Merah Keriting di Kecamatan Wih Pesam

The purpose of this study was to look at the level of interest and the factors that influence it in the use of vegetable fungicides as anthracnose disease prevention in curly red chili plants. This study was carried out from February 2023 to July 2023. Data collection methods included observation, questionnaires that had been tested for validity and reliability and interviews. Methods of data analysis using a Likert scale and multiple linear regression. The results of the study showed that the level of interest of farmers in the use of vegetable fungicides as a prevention of anthracnose disease in curly red chili plants was very high with an interest of 84.71%. The results of multiple linear regression on the factors that influence farmer interest are obtained by the following equation Y = 3.739 - 0.212X1 + 0.057X2 - 0.164X3 + 0.311X4 + 0.235X5 + 0.381X6. Simultaneously the variables of age, farming experience, land area, role of extension workers, community environment, and facilities and infrastructure have a joint effect on farmers' interests. Partially the variables of age, land area, role of extension workers, community environment, and facilities and infrastructure have a significant effect, while the variable farming experience has no significant effect