Pub Date : 2023-12-29DOI: 10.47191/jefms/v6-i12-35
Masatoshi Hara
The economies of ASEAN countries have experienced growth, but many find themselves stuck in the "middle-income trap" for an extended period. Overcoming this trap is crucial as it is linked to issues such as limited job opportunities and unstable income, especially in Southeast Asia. To avoid this trap, promoting innovation is recommended, with the startup ecosystem seen as a key driver of economic growth since the 2010s. Accelerating business development through startup promotion has become a benchmark for achieving economic development. Encouraging entrepreneurship, particularly through startups, plays a significant role in boosting economies. Academic entrepreneurship, involving students, governments, and private enterprises, has emerged as an important approach. However, middle-income ASEAN economies, especially in the lower-middle-income bracket, face challenges in promoting academic entrepreneurship due to resource, funding, and connection limitations. To address this, a conceptual framework was developed to understand the theoretical relationship between the economic development stage and entrepreneurship through startups. Panel data analysis using natural logarithmic data revealed that entrepreneurship via startups is a significant predictor and a substantial factor in promoting economic development. Building on the panel data analysis results, a strategic framework for promoting economic development through entrepreneurship via startups was formulated through qualitative analysis. This involved integrating insights from academic entrepreneurship policies and the current development conditions in six selected middle-income ASEAN economies, along with the status of the startup ecosystem. Notably, there is a need for further development in financial and educational support to encourage young university students to establish companies in collaboration with governments and enterprises. Tailoring startup policies to the development status of each country is desirable.
{"title":"Fostering Academic Entrepreneurship for Economic Development: Challenges, Frameworks, and Strategies in ASEAN","authors":"Masatoshi Hara","doi":"10.47191/jefms/v6-i12-35","DOIUrl":"https://doi.org/10.47191/jefms/v6-i12-35","url":null,"abstract":"The economies of ASEAN countries have experienced growth, but many find themselves stuck in the \"middle-income trap\" for an extended period. Overcoming this trap is crucial as it is linked to issues such as limited job opportunities and unstable income, especially in Southeast Asia. To avoid this trap, promoting innovation is recommended, with the startup ecosystem seen as a key driver of economic growth since the 2010s. Accelerating business development through startup promotion has become a benchmark for achieving economic development. Encouraging entrepreneurship, particularly through startups, plays a significant role in boosting economies. Academic entrepreneurship, involving students, governments, and private enterprises, has emerged as an important approach. However, middle-income ASEAN economies, especially in the lower-middle-income bracket, face challenges in promoting academic entrepreneurship due to resource, funding, and connection limitations. To address this, a conceptual framework was developed to understand the theoretical relationship between the economic development stage and entrepreneurship through startups. Panel data analysis using natural logarithmic data revealed that entrepreneurship via startups is a significant predictor and a substantial factor in promoting economic development. Building on the panel data analysis results, a strategic framework for promoting economic development through entrepreneurship via startups was formulated through qualitative analysis. This involved integrating insights from academic entrepreneurship policies and the current development conditions in six selected middle-income ASEAN economies, along with the status of the startup ecosystem. Notably, there is a need for further development in financial and educational support to encourage young university students to establish companies in collaboration with governments and enterprises. Tailoring startup policies to the development status of each country is desirable.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"29 34","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139147701","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-28DOI: 10.47191/jefms/v6-i12-33
Imam Wahyudi, Errika Putri Tantia
This study aims to explore the role of the whistleblowing system in preventing fraudulent practices that often occur in a collective and corrupt society. Using an interpretive case study approach, the second researcher is an employee at the place that is the subject of the study so that the researcher acts as a complete participant (participant observation) and accordingly becomes the data source as well. In addition, the open interview technique with the informants also complements the data to confirm the understanding and subjective experience of the researchers. Data analysis was carried out using a subjective – reflexive approach. The results of the study show that although the company already has a whistleblowing system, it turns out that the system does not work because the collective culture prevents insiders from acting as whistleblowers.
{"title":"Whistleblowing Practice in a Collective and Corrupt Society – A Case Study","authors":"Imam Wahyudi, Errika Putri Tantia","doi":"10.47191/jefms/v6-i12-33","DOIUrl":"https://doi.org/10.47191/jefms/v6-i12-33","url":null,"abstract":"This study aims to explore the role of the whistleblowing system in preventing fraudulent practices that often occur in a collective and corrupt society. Using an interpretive case study approach, the second researcher is an employee at the place that is the subject of the study so that the researcher acts as a complete participant (participant observation) and accordingly becomes the data source as well. In addition, the open interview technique with the informants also complements the data to confirm the understanding and subjective experience of the researchers. Data analysis was carried out using a subjective – reflexive approach. The results of the study show that although the company already has a whistleblowing system, it turns out that the system does not work because the collective culture prevents insiders from acting as whistleblowers.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"45 25","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139151210","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-28DOI: 10.47191/jefms/v6-i12-34
Vinky Angelia Putri, Anggraeni Purwatiningsih, Adi Suprayitno
This study aims to answer two formulations of the problem regarding (1) the influence of the use of accounting information systems on the performance of MSMEs in Blitar Regency, and (2) the effect of the development of accounting information systems on the performance of MSMEs in Blitar Regency. Quantitative techniques were used for this study. Primary data from the completed questionnaires were used for analysis in this study. There are 31,433 MSMEs included in the population. 100 respondents are the sample size for this study. The Slovin formula is used in the sampling technique. The data analysis method used is validity, reliability, and classical assumption testing and hypothesis testing. Data analysis using multiple linear regression. It has been answered through this research that: (1) there is a significant influence on the use of accounting information systems on the performance of MSMEs in Blitar Regency, there is a significant influence on the development of accounting information systems on the performance of MSMEs in Blitar Regency.
{"title":"The Influence of the Use and Development of Accounting Information Systems on the Performance of MSMEs in Blitar Regency","authors":"Vinky Angelia Putri, Anggraeni Purwatiningsih, Adi Suprayitno","doi":"10.47191/jefms/v6-i12-34","DOIUrl":"https://doi.org/10.47191/jefms/v6-i12-34","url":null,"abstract":"This study aims to answer two formulations of the problem regarding (1) the influence of the use of accounting information systems on the performance of MSMEs in Blitar Regency, and (2) the effect of the development of accounting information systems on the performance of MSMEs in Blitar Regency. Quantitative techniques were used for this study. Primary data from the completed questionnaires were used for analysis in this study. There are 31,433 MSMEs included in the population. 100 respondents are the sample size for this study. The Slovin formula is used in the sampling technique. The data analysis method used is validity, reliability, and classical assumption testing and hypothesis testing. Data analysis using multiple linear regression. It has been answered through this research that: (1) there is a significant influence on the use of accounting information systems on the performance of MSMEs in Blitar Regency, there is a significant influence on the development of accounting information systems on the performance of MSMEs in Blitar Regency.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"14 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139150740","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-26DOI: 10.47191/jefms/v6-i12-28
Airlin Permata Sari, Taufiq Arifin
Developments regarding taxes in the national and international scope are exciting issues to follow. In carrying out its duties, the government's efforts to optimize tax revenue often conflict with companies. This study looked at 109 companies in the banking sector spread across ASEAN countries to analyze tax aggressiveness. Based on the findings, it can be concluded that the president director of publicity negatively affects tax aggressiveness. However, political connection do not affect tax aggressiveness. Similarly, leverage as a moderation variable in this study has the result of neither strengthening nor weakening the effect of president directors, publicity, or political connection on tax aggressiveness. Ultimately, this research can contribute to tax aggressiveness, which can be affected not only by the company's financial and internal factors but also by external factors, especially the general public, even though they have no interest in the company.
{"title":"Tax Aggressiveness: President Director Publicity and Political Connection","authors":"Airlin Permata Sari, Taufiq Arifin","doi":"10.47191/jefms/v6-i12-28","DOIUrl":"https://doi.org/10.47191/jefms/v6-i12-28","url":null,"abstract":"Developments regarding taxes in the national and international scope are exciting issues to follow. In carrying out its duties, the government's efforts to optimize tax revenue often conflict with companies. This study looked at 109 companies in the banking sector spread across ASEAN countries to analyze tax aggressiveness. Based on the findings, it can be concluded that the president director of publicity negatively affects tax aggressiveness. However, political connection do not affect tax aggressiveness. Similarly, leverage as a moderation variable in this study has the result of neither strengthening nor weakening the effect of president directors, publicity, or political connection on tax aggressiveness. Ultimately, this research can contribute to tax aggressiveness, which can be affected not only by the company's financial and internal factors but also by external factors, especially the general public, even though they have no interest in the company.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"31 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139155237","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-26DOI: 10.47191/jefms/v6-i12-30
Dwi Aprilia Nurhaliza, Nurul Qomariah, Toni Herlambang
Currently, cosmetic products to brighten the face are trending among teenagers and mothers. Demand for facial brightening products has increased significantly. This research aims to analyze and determine the impact of social media marketing on trust and purchasing decisions at the Scarlet Fitriajaya Banyuwangi Outlet. The research population was all Scarlet cosmetics users at the Scarlet Fitriajaya Banyuwangi Outlet. The number of samples was determined at 180 respondents with a minimum requirement of 10 times the number of variables studied (there are 3 types of variables). Descriptive analysis is used to describe respondents and research variables. Analysis of validity and reliability tests to test research measuring instruments. Hypothesis testing is also carried out to test the impact of independent and intervening variables on the dependent variable. The analysis results show that social media marketing has an impact on trust. Social media marketing has an impact on purchasing decisions. Trust has a positive impact on purchasing decisions.
{"title":"Mediation of Trust Variables: The Impact of Social Media Marketing on Purchasing Decisions at the Scarlet Fitriajaya Banyuwangi Outlet","authors":"Dwi Aprilia Nurhaliza, Nurul Qomariah, Toni Herlambang","doi":"10.47191/jefms/v6-i12-30","DOIUrl":"https://doi.org/10.47191/jefms/v6-i12-30","url":null,"abstract":"Currently, cosmetic products to brighten the face are trending among teenagers and mothers. Demand for facial brightening products has increased significantly. This research aims to analyze and determine the impact of social media marketing on trust and purchasing decisions at the Scarlet Fitriajaya Banyuwangi Outlet. The research population was all Scarlet cosmetics users at the Scarlet Fitriajaya Banyuwangi Outlet. The number of samples was determined at 180 respondents with a minimum requirement of 10 times the number of variables studied (there are 3 types of variables). Descriptive analysis is used to describe respondents and research variables. Analysis of validity and reliability tests to test research measuring instruments. Hypothesis testing is also carried out to test the impact of independent and intervening variables on the dependent variable. The analysis results show that social media marketing has an impact on trust. Social media marketing has an impact on purchasing decisions. Trust has a positive impact on purchasing decisions.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"3 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139157057","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-26DOI: 10.47191/jefms/v6-i12-29
Dwi Memi Setyorini, Nurul Qomariah, Ni Nyoman Putu Martini
Every organization, whether government-owned or private-owned, is required to continue to improve its performance in line with increasing competition in all lines of business. This research is aimed at analyzing and determining the impact of competence, work discipline and leadership on performance at the Bondowoso Regency Regional Revenue Agency. The population in this study were Bondowoso Regency Regional Revenue Agency employees, 67 Bondowoso Bapenda employees and 23 tax collection officers in each sub-district, so the total population in this study was 90 employees other than leaders. The entire population is used as a sample, so the sample in this study is a saturated sample. Description analysis, validity test analysis and reliability test as well as hypothesis analysis are used as analytical tools in this research. The results of this research are that competence, work discipline and leadership have a positive impact on the performance of Bondowoso Regency Regional Revenue Agency employees.
{"title":"Improving Performance Based on Competency, Work Discipline and Leadership at the Bondowoso Regency Regional Revenue Agency","authors":"Dwi Memi Setyorini, Nurul Qomariah, Ni Nyoman Putu Martini","doi":"10.47191/jefms/v6-i12-29","DOIUrl":"https://doi.org/10.47191/jefms/v6-i12-29","url":null,"abstract":"Every organization, whether government-owned or private-owned, is required to continue to improve its performance in line with increasing competition in all lines of business. This research is aimed at analyzing and determining the impact of competence, work discipline and leadership on performance at the Bondowoso Regency Regional Revenue Agency. The population in this study were Bondowoso Regency Regional Revenue Agency employees, 67 Bondowoso Bapenda employees and 23 tax collection officers in each sub-district, so the total population in this study was 90 employees other than leaders. The entire population is used as a sample, so the sample in this study is a saturated sample. Description analysis, validity test analysis and reliability test as well as hypothesis analysis are used as analytical tools in this research. The results of this research are that competence, work discipline and leadership have a positive impact on the performance of Bondowoso Regency Regional Revenue Agency employees.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"13 23","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139156208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-23DOI: 10.47191/jefms/v6-i12-27
Nurhayati Nurhayati, Bambang Suntowo, Sapto Roedy
This study aims to determine the prevention of mismanagement of village funds based on internal control. The method used in this research is qualitative. The object of this research is the Sumbermulyo Village Government which focuses on internal control in preventing misuse of village fund management. This research will later analyze internal control in preventing misuse of village fund management. Management of village funds refers to Permendagri No. 20 of 2018 concerning Village Financial Management, Permendes PDTT No. 7 of 2021 Concerning Priority for the Use of Village Funds for 2022 and PP No. 60 of 2014 concerning Village Funds Derived from the State Revenue and Expenditure Budget. Internal control refers to PP No. 60 of 2008 concerning the Government's Internal Control System. The results of this analysis indicate that the management of village funds and internal control at the Sumbermulyo Village Government are in accordance with applicable regulations so that this can prevent acts of fraud
{"title":"Analysis of Internal Control in Preventing Misappropriation of Village Funds: (Case Study on Sumbermulyo Village Government)","authors":"Nurhayati Nurhayati, Bambang Suntowo, Sapto Roedy","doi":"10.47191/jefms/v6-i12-27","DOIUrl":"https://doi.org/10.47191/jefms/v6-i12-27","url":null,"abstract":"This study aims to determine the prevention of mismanagement of village funds based on internal control. The method used in this research is qualitative. The object of this research is the Sumbermulyo Village Government which focuses on internal control in preventing misuse of village fund management. This research will later analyze internal control in preventing misuse of village fund management. Management of village funds refers to Permendagri No. 20 of 2018 concerning Village Financial Management, Permendes PDTT No. 7 of 2021 Concerning Priority for the Use of Village Funds for 2022 and PP No. 60 of 2014 concerning Village Funds Derived from the State Revenue and Expenditure Budget. Internal control refers to PP No. 60 of 2008 concerning the Government's Internal Control System. The results of this analysis indicate that the management of village funds and internal control at the Sumbermulyo Village Government are in accordance with applicable regulations so that this can prevent acts of fraud","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"7 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139162161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research aims to understand the development of rice imports, the factors driving rice imports, the impact of rice imports, and steps to increase production and reduce rice imports in Indonesia. This research uses a descriptive qualitative approach. Data collection uses secondary data from CNBC Indonesia YouTube news videos and rice import data from the Central Statistics Agency. The data analysis technique uses the Interactive Model from Miles et al. (2014). The research results show that based on data recorded at the Central Bureau of Statistics, Indonesia imported rice from 2000-2023 to maintain availability, strengthen rice reserves, anticipate El Nino events, and increase population. The impact of rice imports is to maintain the situation's stability, but if the policy is inappropriate, it can harm domestic farmers. Efforts that the government can make to increase production and reduce rice imports include implementing the steps successfully implemented by Cambodia, immediately creating a program to increase rice production, and focusing more on intensifying land productivity increases.
本研究旨在了解印尼大米进口的发展情况、推动大米进口的因素、大米进口的影响以及提高产量和减少大米进口的措施。本研究采用描述性定性方法。数据收集使用来自印尼 CNBC YouTube 新闻视频的二手数据和中央统计局的大米进口数据。数据分析技术采用 Miles 等人（2014 年）的互动模型。研究结果表明，根据中央统计局记录的数据，2000-2023 年印尼进口大米的目的是维持供应、加强大米储备、预测厄尔尼诺事件以及增加人口。大米进口的影响是维持局势稳定，但如果政策不当，就会损害国内农民的利益。政府可以采取的提高产量、减少大米进口的措施包括：实施柬埔寨成功实施的步骤，立即制定大米增产计划，并更加注重强化土地生产力的提高。
{"title":"Dynamics of Rice Imports in Indonesia: Analysis of Development, Causative Factors, Impacts and Solutions","authors":"Roudlotul Badi’ah, Dadang Wiratama, Mohamad Fahmi Yusuf, Desy Artika Sari, Dina Ulya Zunida","doi":"10.47191/jefms/v6-i11-57","DOIUrl":"https://doi.org/10.47191/jefms/v6-i11-57","url":null,"abstract":"This research aims to understand the development of rice imports, the factors driving rice imports, the impact of rice imports, and steps to increase production and reduce rice imports in Indonesia. This research uses a descriptive qualitative approach. Data collection uses secondary data from CNBC Indonesia YouTube news videos and rice import data from the Central Statistics Agency. The data analysis technique uses the Interactive Model from Miles et al. (2014). The research results show that based on data recorded at the Central Bureau of Statistics, Indonesia imported rice from 2000-2023 to maintain availability, strengthen rice reserves, anticipate El Nino events, and increase population. The impact of rice imports is to maintain the situation's stability, but if the policy is inappropriate, it can harm domestic farmers. Efforts that the government can make to increase production and reduce rice imports include implementing the steps successfully implemented by Cambodia, immediately creating a program to increase rice production, and focusing more on intensifying land productivity increases.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139198804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.47191/jefms/v6-i11-54
Dr Kyriazopoulos Georgios, Mavrommatis Georgios
This paper is prepared with the aim of establishing whether there is a possible bankruptcy of the Greek oil companies Listed on the Athens Stock Exchange in the last six years 2016-2021. This period under consideration also includes the two years of the 2019-2020 pandemic. Design/methodology/approach -The effort of this study is carried out using the Altman Z-Score model bankruptcy model for Emerging Markets. This paper focuses on bankruptcy, a situation which is a consequence of financial failure. Bankruptcy can happen to any organization or government body. The consequences of bankruptcy, as is known, are many and important. The main ones are the possible increase in unemployment, the decrease in the standard of living and in general the creation of a climate of economic discomfort. Findings -The results of this study indicate that the exit of the Greek economy from the Memorandum of the IMF and Eurozone lenders had a positive effect on the Greek oil companies listed on the Athens Stock Exchange, which is known as an emerging market. We must also note that the two years of the pandemic did not have a significant negative effects on bankruptcy issues for the same companies. Practical implications -The use of the two Altman's Z-Score model in this study, helps the stockholders and investors to have a conclude financial icon for stocks and bonds and make the right decisions. Originality/value -In order to avoid bankruptcy and therefore the negative consequences that accompany it, many economic scientists have made efforts to predict it. Its prediction can be lifesaving and ultimately prevent it. Among the many important models that have been made, for predicting bankruptcy is the Altman Z-Score bankruptcy model that has stood out because of its very good results in bankruptcy prediction. This particular model is implemented in Greece which is a country with such a strong economic crisis, which has plagued the Greek Economy since 2010, but also during the pandemic period where almost all corporate firms are struggling daily with bankruptcy. Specifically, the Z-Score Altman model will be applied comparatively for the years 2016-2021 to the companies ELIN S.A., MOTOR OIL and REVOIL S.A.E.P., ELPE S.A., which are listed on the Athens Stock Exchange, in order to establish whether there has been or if there is the possibility of bankruptcy of these companies during the time period of our study.
{"title":"Predicting Bankruptcy on Oil Companies Before and After the Pandemic Using Two Altman's Z-Score Models. Industrial and Emerging Markets. Evidence from Greece","authors":"Dr Kyriazopoulos Georgios, Mavrommatis Georgios","doi":"10.47191/jefms/v6-i11-54","DOIUrl":"https://doi.org/10.47191/jefms/v6-i11-54","url":null,"abstract":"This paper is prepared with the aim of establishing whether there is a possible bankruptcy of the Greek oil companies Listed on the Athens Stock Exchange in the last six years 2016-2021. This period under consideration also includes the two years of the 2019-2020 pandemic. Design/methodology/approach -The effort of this study is carried out using the Altman Z-Score model bankruptcy model for Emerging Markets. This paper focuses on bankruptcy, a situation which is a consequence of financial failure. Bankruptcy can happen to any organization or government body. The consequences of bankruptcy, as is known, are many and important. The main ones are the possible increase in unemployment, the decrease in the standard of living and in general the creation of a climate of economic discomfort. Findings -The results of this study indicate that the exit of the Greek economy from the Memorandum of the IMF and Eurozone lenders had a positive effect on the Greek oil companies listed on the Athens Stock Exchange, which is known as an emerging market. We must also note that the two years of the pandemic did not have a significant negative effects on bankruptcy issues for the same companies. Practical implications -The use of the two Altman's Z-Score model in this study, helps the stockholders and investors to have a conclude financial icon for stocks and bonds and make the right decisions. Originality/value -In order to avoid bankruptcy and therefore the negative consequences that accompany it, many economic scientists have made efforts to predict it. Its prediction can be lifesaving and ultimately prevent it. Among the many important models that have been made, for predicting bankruptcy is the Altman Z-Score bankruptcy model that has stood out because of its very good results in bankruptcy prediction. This particular model is implemented in Greece which is a country with such a strong economic crisis, which has plagued the Greek Economy since 2010, but also during the pandemic period where almost all corporate firms are struggling daily with bankruptcy. Specifically, the Z-Score Altman model will be applied comparatively for the years 2016-2021 to the companies ELIN S.A., MOTOR OIL and REVOIL S.A.E.P., ELPE S.A., which are listed on the Athens Stock Exchange, in order to establish whether there has been or if there is the possibility of bankruptcy of these companies during the time period of our study.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139202522","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.47191/jefms/v6-i11-55
Ratna Dewi, Maretha Ika Prajawati
Generally in a marriage, the man proposes to the woman. On the contrary, the famous and typical proposal custom in Lamongan is that a woman proposes to a man. This research aims to determine the motivation and ways of managing the finances of the Sendangagung Village community in carrying out the tradition of women proposing to men. This research was conducted in Sendangagung Village, Paciran District, Lamongan Regency. This research method is a qualitative research method with a descriptive approach. The subjects in this research were 5 informants who were selected using a purposive sampling technique where subject selection was based on certain criteria. Data collection was carried out using three methods, namely observation, interviews, and documentation. The research results show that there are two motivations behind the community carrying out the tradition of women proposing to men in Sendangagung Village, namely to maintain ancestral traditions and to respect the dignity of men. Regarding financial management, in the tradition of women proposing to men in Sendangagung Village, there are two ways, namely by investing and saving. The uniqueness of this tradition is a characteristic that cannot be found in other areas. So these traditions must be maintained and preserved as a form of pride in the culture of our country.
{"title":"Financial Management in the Tradition of Women Proposing Men","authors":"Ratna Dewi, Maretha Ika Prajawati","doi":"10.47191/jefms/v6-i11-55","DOIUrl":"https://doi.org/10.47191/jefms/v6-i11-55","url":null,"abstract":"Generally in a marriage, the man proposes to the woman. On the contrary, the famous and typical proposal custom in Lamongan is that a woman proposes to a man. This research aims to determine the motivation and ways of managing the finances of the Sendangagung Village community in carrying out the tradition of women proposing to men. This research was conducted in Sendangagung Village, Paciran District, Lamongan Regency. This research method is a qualitative research method with a descriptive approach. The subjects in this research were 5 informants who were selected using a purposive sampling technique where subject selection was based on certain criteria. Data collection was carried out using three methods, namely observation, interviews, and documentation. The research results show that there are two motivations behind the community carrying out the tradition of women proposing to men in Sendangagung Village, namely to maintain ancestral traditions and to respect the dignity of men. Regarding financial management, in the tradition of women proposing to men in Sendangagung Village, there are two ways, namely by investing and saving. The uniqueness of this tradition is a characteristic that cannot be found in other areas. So these traditions must be maintained and preserved as a form of pride in the culture of our country.","PeriodicalId":509310,"journal":{"name":"JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES","volume":"600 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139203910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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