Fund Balance Research Articles

Pengaruh Pendapatan Asli Daerah (PAD), Dana Perimbangan, dan Pengeluaran Bidang kesehatan terhadap Indeks Pembangunan Manusia (IPM) Kabupaten Jombang Tahun 2007-2021

The aim of the research is to analyze the influence of a region's original income, balancing funds and health expenditure on the human development index (HDI) in Jombang Regency during the period 2007 - 2021. Using the multiple linear regression method by carrying out the Best Linear Unbiased Estimation (BLUE) test, and analysis hypothesis testing. The results of this research concluded that simultaneously the human development index (HDI) in Jombang Regency during the 2007-2021 period was influenced by local original income (PAD), balancing funds and expenditure in the health sector. However, only partial balancing funds can influence the human development index in Jombang Regency during the 2007-2021 period.

Recognising foreign solvent proceedings under the UNCITRAL Model Law on Cross-Border Insolvency: the Singaporean approach in Ascentra Holdings, Inc v SPGK Pte Ltd [2023] 2 SLR 421

To promote cooperation among stakeholders in different jurisdictions to facilitate coordinated insolvency proceedings, the United Nations Commission on International Trade Law (UNCITRAL) adopted the Model Law on Cross-Border Insolvency (MLCBI) in 1997. The MLCBI harmonises certain procedural aspects of the cross-border insolvency process, though states may choose to make modifications when adopting the MLCBI in their own legal systems. This was completed in Singapore in 2017, and the Singapore Model Law (SML) can now be found in the Third Schedule to the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed) (IRDA 2018). One topic that has been the subject of much debate internationally is whether foreign solvent proceedings can be recognised under the MLCBI or the corresponding provisions in various jurisdictions: the Nevada Bankruptcy Court first answered this question in the affirmative, but this was explicitly rejected by the High Court of England and Wales (EWHC) in Re Sturgeon Central Asia Balanced Fund Ltd (in liquidation) (No 2) (Re Sturgeon). In Ascentra Holdings, Inc (in official liquidation) v SPGK Pte Ltd (Ascentra), the Singapore Court of Appeal (SGCA) held that foreign proceedings concerning solvent companies may be recognised under the SML. This commentary addresses the salient points of the SGCA's judgment and highlights the positive impact of this gradual harmonisation of the approaches taken in different jurisdictions to the MLCBI. Through a comparative analysis of the conflicting Re Sturgeon decision, three additional justifications based on the preparatory documents pertaining to the MLCBI, relevant authorities in the UK and a purposive reading of the MLCBI are provided for the approach in Ascentra. It is contended in closing that these reasons support the argument for definitively overruling the Re Sturgeon decision in the UK.

OLG Model Analysis of Delayed Retirement and Social Pension Effects on Family-Based Elderly Care in China

Driven by the traditional concept of “Raising Children to Ensure Old-age Security”, China’s elderly care system has long relied on a family-centered approach, with intergenerational financial transfers (IFTs) serving as a major source of income for the elderly. However, as China’s population ages, the government’s plan to implement delayed retirement from 2025, along with pension reforms, is expected to reshape family-based eldercare and intergenerational financial dynamics. This paper employs an Overlapping Generation (OLG) model, grounded in unified growth theory, which incorporates a delayed retirement policy under the constraint of pension fund balance to examine the impact of adjusting the pension contribution rates (PCRs) and raising retirement age (RA) on IFT rates. The research findings indicate a negative correlation between RA, PCR, and IFT. Both policies have the potential to alleviate the burden on family-based eldercare. The integrated implementation of these two policies not only creates room for a phased reduction in pension contribution rates but also enables the effective utilization of senior workers’ expertise and experience.

The Effect of Fiscal Decentralization, Human Development Index (HDI), and Poverty Rate on Income Disparity in Sumatra Provinces

Income disparity is defined as the discrepancy in income distribution between different communities. The existence of high and low income levels can serve as a benchmark for a country, regardless of whether it is classified as developed or developing. The impact of income disparity has the potential to influence the sustainability of economic development at the regional and national levels. High income disparity has a deleterious effect on the political and economic stability of a country. This research employs a descriptive quantitative methodology. This research employs secondary data and panel data regression analysis tools. The data utilized in this study were procured from the Directorate General of Fiscal Balance and the Central Bureau of Statistics of all provinces within the Sumatra region. The research data set includes the Fiscal Balance Fund, the Human Development Index, the percentage of the population living below the poverty line, and the Gini Ratio Index for the past seven years, from 2017 to 2023. The findings of this study indicate that fiscal decentralization and poverty level exert a negative but insignificant influence on income disparity in the Sumatra region provinces. Conversely, the human development index exerts a negative and significant influence on income disparity in the same region.

Effect Of Funding Structure And Liquidity On The Financial Performance Of The Sugar Industry In Kenya

The main aim of this study was to determine the effect of funding structure on the financial performance of the sugar industry in Kenya. The relationship between funding structure and financial performance is crucial within Kenya's sugar industry, as it directly impacts resource allocation, expense management, and overall profitability. Inadequate financial management can result in liquidity challenges, affecting the sector's competitiveness and sustainability. Conversely, a well-balanced funding structure, incorporating both debt and equity, has the potential to strengthen financial stability. Stockholder, Trade-offs, and Pecking order guided the study. The study employed a correlational research design. The study's target population consisted of 16 sugar companies operational in Kenya. Purposive sampling was used to select 9 sugar companies. A total of 324 secondary data points from 2014 to 2022 were collected, including the cost of equity, debt, retained earnings, and economic value added, derived from financial statements and cash flows. The results showed a significant positive relationship between funding structure and Economic value added (coeff=0.863126, p=0.000<0.005). This reveals that Companies that maintain an appropriate funding structure are more likely to achieve higher Economic Value Added (EVA) over the long run. Given the positive long-term correlation between funding structure and EVA, it can be inferred that Kenyan sugar companies should prioritize maintaining a balanced funding structure to improve financial performance. The study concludes that funding structure has a significant relationship with economic value added

Forecasting health financing sustainability under the unified pool reform: evidence from China’s Urban Employee Basic Medical Insurance

ObjectiveThe integration of the health insurance fund pool may threaten the sustainability of the fund by increasing its expenditures through the exacerbation of the moral hazard of participations. The purpose of this paper is to assess and predict the impact of the single pool reform of China’s Urban Employee Basic Medical Insurance (UEBMI) on the expenditure and sustainability of the health insurance fund.MethodsIn this paper, we consider the pilot implementation of the single pool reform in some provinces of China as a quasi-natural experiment, and develop a staggered DID model to assess the impact of the single pool reform on medical reimbursement expenditure. Based on the results, an actuarial model is developed to predict the impact on the accumulated balance of China’s health insurance fund if the single pool reform is continued.ResultsWe found that the medical reimbursement expenditure would increase by 66.4% per insured person after the unified provincial-level pool reform. There is individual heterogeneity in the effects of the unified single pool reform on medical reimbursement expenditure, and the reimbursement expenditure of retired elderly has the largest increase. If the unified single pool reform is gradually promoted, the current and accumulated balance of the UEBMI pooling fund would have gaps in 2031 and 2042, respectively.ConclusionWe verified that a larger fund pool will bring unreasonable growth of fund expenditures, which will threaten the sustainable development of health insurance. To minimize the impact of the unified single pool reform on the sustainability of the health insurance fund, we suggest strengthening the monitoring of moral hazard behavior, promoting the delayed retirement system, and encouraging childbearing.

PENGARUH BELANJA MODAL DAN DANA PERIMBANGAN TERHADAP KINERJA KEUANGAN DAERAH DENGAN PENDAPATAN ASLI DAERAH SEBAGAI VARIABEL PEMODERASI

The purpose of this study was conducted to determine the effect of capital expenditures and balancing funds on regional financial. To find out Regional Original Income (PAD) as a moderating variable that moderates the relationship between Capital Expenditures and Balancing Funds on Regional Financial Performance in Regency and City Governments in the Riau Archipelago Province. The population is 7 districts/cities in the Riau Archipelago which were sampled with the 2011-2017 observation period. This study uses partial regression analysis (Partial Least Square / PLS) to test the five hypotheses proposed in this study. Each hypothesis will be analyzed using Smart PLS 2.0 software to examine the relationship between variables. The results showed that Capital Expenditures had no significant effect on Regional Financial Performance, as indicated by the t-statistic value of 0.029 which is smaller than the t-table value of 1.674. Balancing Funds obtained a p-value of 0.001 with a t-statistic value of 3.203 > 1.674, which means that Balancing Funds have a significant positive effect on Regional Financial Performance with a significance level above 5% (significant). The test results for Regional Original Income (PAD) moderate the relationship between Capital Expenditures obtaining a p-value of 0.347 with a t-statistic value of -0.941 <1.674 t-table which means that the Regional Original Income (PAD) variable moderates the relationship between Capital Expenditure of 0.85% which has no significant effect with significance on Regional Financial Performance above 5% (significant). Local Own Revenue (PAD) moderates the relationship between Balancing Funds on Regional Financial Performance with a p-value of 0.727 with a t-statistic value of 0.349 <1.674 which means that Regional Original Income (PAD) moderates the relationship between Balancing Funds that has no significant effect on Regional Financial Performance with a significance level below 5% (significant). The F table value is at 5% significance with df1 = 3 and df2 = (49-3) of 2.84. The Fhiung value of the regional financial performance variable (12.31) is greater than (<) the Ftable value (2.84), with this result there is a mutual influence between the variables Capital Expenditures, Balancing Funds on Regional Financial Performance.

Performance Evaluation and Risk Analysis of Mutual Funds: Insights from Recent Trends and Technological Advancements

Mutual funds, as a popular investment vehicle, pool resources from multiple investors to create diversified portfolios managed by professionals. This study explores the performance of mutual funds by analyzing various types, including equity, bond, and balanced funds, and their associated risks. Utilizing both primary and secondary data, the research evaluates mutual funds based on returns, investment patterns, and risk factors. It also examines the impact of recent technological advancements and regulatory changes on fund performance. The study highlights the benefits of mutual funds, such as diversification and professional management, while addressing potential risks including market, credit, and interest rate risks. By assessing the effectiveness of different mutual funds, the research aims to guide investors and improve capital allocation. The findings provide insights into how mutual funds contribute to individual financial goals and broader economic stability

Integrated Financial Strategies: Sinking Funds and Annuity Pricing in a Dynamic Market Environment

The study on "Integrated Financial Strategies: Sinking Funds and Annuity Pricing in a Dynamic Market Environment" seeks to investigate how sinking funds, annuity pricing, and dynamic market environments can be integrated within the context of integrated financial strategies. The study focuses on the following areas: (1) the application of actuarial tables and probability distributions to ascertain the proper values for annuities payments and sinking fund balances; (2) the role of the actuary science in sinking funding scheduling; (3) the effect of market factors, such as interest rates, inflation, and economic conditions, on the value and value of sinking investments; (4) the analysis of the relationship between market dynamics, including interest rates and time periods, and the value of a sinking asset, including the integration of the two financial instruments. The analysis revealed that changes in the interest rate and the number of periods directly influence the future value of the sinking assets. The integration of these financial instruments can help to optimize financial decision-making, enhance risk management, increase investment returns, improve financial planning, and lead to greater integration with other financial instruments, ultimately leading to better financial outcomes for both financial professionals and investors

Balancing Fund and Inclusive Economic Growth: East Java Provincial Study

One of the policies adopted by the government in development, especially in developing countries, is inclusive economic growth. This study examines how the effect of equalization funds as the main variables, as well as GDP per capita and open unemployment as control variables, on the Inclusive Economic Development Index (IDEI) as a proxy for inclusive economic growth. This research was conducted in 38 regencies/cities in East Java, in the period 2014-2020, using the PVECM Model as an analysis tool. In addition, this research also provides strategies and policy formulations in an effort to increase inclusive economic growth. The results show that in the long-term DAU and GDP per capita have a significant positive effect on inclusive development. Meanwhile, in the short term, DAK and GDP per capita have a positive insignificant effect. It can be concluded that the balancing fund supports inclusive economic development in East Java. Keywords: intergovernmental transfer funds, inclusive economic development index, inclusive economic growth

Impact of a new regulatory policy on thematic and monthly distribution funds in Japan

The Japan Financial Services Agency (JFSA), the country’s financial regulatory body, is concerned with business conduct surrounding mutual fund sales in Japan, especially regarding thematic and monthly distribution funds. The agency introduced a new regulatory policy in 2015 to encourage competition to provide high-quality, customer-oriented financial products and services. Unlike traditional regulation, this policy is based on the comply-or-explain approach, which does not mandate compliance. We utilize a difference-in-differences (DID) approach to examine whether this policy induces changes in the behavior of fund distributors regarding the promotion of these funds. We find that the effectiveness of the policy is not uniform. The policy has a limited impact on reducing fund flows and the size of thematic and monthly distribution funds among active funds, which include equity, bond, and balanced funds. By contrast, we find some evidence that the policy has reduced the fund flows and the size of equity thematic and monthly distribution funds relative to low-cost equity index funds. We find that the comply-or-explain approach alone may not suffice to regulate these fund sales, as distributors and managers can pursue their own interests. In addition, the effectiveness of the approach also depends on investors’ behavior, which may be hindered by a lack of sophistication in understanding the characteristics of these funds.

The Impact of Regional Original Income, Balancing Funds, and Fiscal Stress on Capital Expenditures and Regional Government Financial Performance

Over the last few years, the financial performance of district/city governments in Jambi province has decreased. This condition can be seen from the regional financial independence which is still very low. Therefore, this research aims to analyze more deeply the influence of local revenue, balancing funds, and fiscal stress on regional government financial performance, both direct and indirect influences through capital expenditure. This research is quantitative descriptive. The research was conducted in all districts/cities in Jambi province and used secondary data. Data was obtained through the BPK-RI Jambi Province Representative page in the form of audited regional government financial reports with an observation period from 2017-2022. The data analysis method uses the path analysis method. The study's findings demonstrate that original revenue that is largely generated locally and balancing funds have a major and favorable impact on capital spending. Capital spending is not significantly impacted by fiscal stress. The financial performance of local governments is not significantly impacted by local revenue or fiscal strain. The financial performance of local governments is significantly and negatively impacted by partly balancing funds. The financial performance of local governments is positively and significantly impacted by capital expenditures. Additionally, it was shown that capital spending might moderate the impact of balancing budgets on the financial performance of local governments. But, capital spending does not mitigate the impact of local revenue and fiscal strain on the financial performance of local governments. This research has implications for formulating policies to increase local original income, determining the allocation of capital expenditure and improving the financial performance of regional governments in districts/cities in Jambi province.

The Effect Of Economic Growth, Local Original Income And Equalization Fund On Capital Expenditure (Study On District/City Local Governments In Indonesia)

Capital expenditure is a budget expenditure for the acquisition of fixed assets and other assets that benefit more than one accounting period, including expenditures for maintenance costs that maintain or increase useful life, and increase capacity and asset quality. This study aims to examine the effect of Economic Growth, Local Original Revenue, and Balancing Funds on Capital Expenditure in District/City Regional Governments in Indonesia in 2022 both partially and simultaneously. This research uses quantitative methods, using secondary data obtained through the website of the Directorate General of Financial Balance and the website of the Central Statistics Agency. The sampling technique uses the purposive sampling method with a total sample of 218 District/City Regional Governments in Indonesia in 2022. The data analysis method in this study used multiple linear regression analysis. The results of the study show that the variables of Economic Growth, Regional Original Income, and Balancing Funds simultaneously affect Capital Expenditure. Partially, Economic Growth does not affect Capital Expenditure, while Regional Original Revenue and Balancing Fund affect Capital Expenditure.

Analysis of Capital Expenditures, Original Regional Income, and Balancing Funds on the Economic Growth of Jambi Province for the 2012 - 2021 Period

This study aims to determine the Analysis of Capital Expenditure, Local Own Revenue and Balancing Funds on Economic Growth in Regencies/Cities in Jambi Province. The type of research used in this research is quantitative research. The data processed is secondary data from Capital Expenditures, Regional Original Income, Balancing Funds and Regency/City Economic Growth in Jambi Province in 2012 – 2021. The results showed that simultaneously Capital Expenditure, Regional Original Income and Balancing Funds have a significant effect on Economic Growth in Jambi Province, this is proven by a significance value that is smaller than the probability (0.000 < 0.05). Partially, capital expenditure has a significant effect on economic growth in Jambi Province, as evidenced by a significant value that is smaller than the significant probability (0.0112 < 0.05) and partially Own-Owned Income has no significant effect on economic growth in Jambi Province, as proven by the value significance is smaller than the probability of significance (0.2067 > 0.05) while the Balancing Fund has a significant effect on Economic Growth in Jambi Province, as proven by the significance value which is smaller than the probability of significance (0.0000 < 0.05)

Pengaruh Pendapatan Asli Daerah dan Dana Perimbangan Terhadap Indeks Pembangunan Manusia Kabupaten/Kota NTB Tahun 2018-2022

This research aims to determine the influence of local original income (regional taxes and regional levies), and balancing funds (profit sharing funds, general allocation funds, and special allocation funds), on the Regency/City Human Development Index in NTB Province for 2018-2022. Data analysis uses panel data regression with the fixed effect model method. The results of this research show that: (1) Regional taxes do not have a significant effect on the Regency/City Human Development Index in NTB Province. (2) Regional levies do not have a significant effect on the Regency/City Human Development Index in NTB Province. (3) Profit Sharing Funds do not have a significant effect on the District/City Human Development Index in NTB Province. (4) General Allocation Funds do not have a significant effect on the Regency/City Human Development Index in NTB Province. (5) Special Allocation Funds have a positive and significant effect on the District/City Human Development Index in NTB Province. Keywords: Original Regional Income, Balancing Funds, Human Development Index, NTB Province.

A Study on Indian Mutual Funds

The Indian mutual fund industry performs a pivotal position in the U. S. A.'s monetary landscape, supplying a extensive spectrum of funding alternatives tailored to fulfill the numerous monetary desires and danger appetites of buyers. This studies paper goals to delve into the overall performance, strategies, and effect of mutual funds controlled via Asset Management Companies (AMCs) in India. It explores the variety of schemes available, inclusive of fairness funds, debt, liquid, gilt, and balanced funds, catering to each younger and pro buyer. The observe also examines the regulatory framework designed to defend traders' pastimes, emphasizing the enterprise's commitment to transparency and accountability. Furthermore, the paper investigates the evolving dynamics inside the mutual fund region, especially in light of growing competition among AMCs. It seeks to apprehend investor orientations in the direction of mutual budget, specializing in chance urge for food and alternatives for numerous schemes, plans, and alternatives regarding fee of returns, dividend frequency, and liquidity. Through comprehensive evaluation, the studies pursuits to provide insights that could manual AMC strategies and policies, in the end enhancing the overall investor revel in and fostering boom within the Indian mutual fund industry. KEYWORDS: Research Paper, NAV (Net Asset Value), SIP (Systematic Investment Plan), ELSS (Equity Linked Savings Scheme), AUM (Assets Under Management), Growth Option, Dividend Options.

The Influence of Fiscal Balance Funds and Regional Own-Source Revenues on Regional Expenditures

The purpose of this study is to examine the relationship between regional original income and general allocation funds as well as the spending patterns of regency and municipal administrations in West Sumatra Province from 2018 to 2022. Twenty regencies/cities and West Sumatra Province were selected for the sample using a comprehensive sampling technique within the allotted period. A t-test result of 7.788 and a significance level of 0.000 demonstrate that the General Allocation Fund does, in fact, have an effect on Regional Expenditures. There is a discrepancy between the calculated t-value (7.788) and the t-table value (1.987), which means that the significance value (0.000) is less than 0.05. There is no statistically significant relationship between regional original income and regional expenditures, as shown by the calculated t-test result of 1.389 and a significance value of 0.168. The comparison reveals that the calculated t-value (1.389) is lower than the t-table value (1.987), and that the significance value (0.168) is more than 0.05. However, Regional Expenditures are affected by both the General Allocation Fund and Regional Original Income, as shown by the F-test result of 51.233. This number is much lower than the 0.05 cutoff and higher than the 3.10 F-table value at the 0.000 level of significance.

Analysis of the Effect of Regional Original Revenue and Balance Funds on Gross Regional Domestic Product in Lombok Barat Regency in 2010-2022

Economic growth can detail many aspects of an economy. The purpose of this study was to analyze the effect of Regional Original Revenue and Balance Funds on Gross Regional Domestic Product in Lombok Barat Regency. This study uses descriptive research with a quantitative approach. The data collection technique used is literature study and documentation. The data used is secondary data from 2010-2022 obtained from the Central Bureau of Statistics and the Regional Financial and Asset Management Agency (BPAKD) of Lombok Barat Regency. The analysis method used in this research is multiple regression analysis with hypothesis testing using the classical assumption test, followed by a partial t test, a simultaneous f test, and a coefficient of determination (R²) test with a significant level of 5%. The results of the econometric criteria test research in this study did not have classical assumption deviations. Based on partial and simultaneous tests, it shows that Regional Original Revenue and Balance Fund have a positive relationship and have a significant effect on Gross Regional Domestic Product in Lombok Barat Regency. As for the coefficient of determination (R²) value of 98% is influenced by the amount of Regional Original Income and Balance Fund while the rest is influenced by other variables outside the model.

The Effect of Local Original Income (PAD), Transfer Funds (Balanced Funds), and Regional Economic Growth on the Regional Poverty Rate of West Nusa Tenggara Province (NTB)

One of the primary goals of any municipality is human development when it comes to regional development. Reducing poverty and improving community welfare and human resources are the primary goals. The poverty rate in NTB Province has dropped dramatically, and the income and economic growth in the area have increased, thanks to the many regional development initiatives that the province has launched. Finding out how local original income, balancing funds, and economic development influence the poverty rate in NTB province is the main objective of this research. Using a battery of tests and regression analysis, we compile a dataset consisting of panel data from ten NTB Province regencies and cities covering the years 2012–2022. The results obtained from this study show that local original funding (PAD) has a significant impact on reducing poverty rates and balancing funds that significantly reduce poverty rates in the NTB province. However, economic growth impacts increasing the poverty rate in NTB province, although not significantly. This may happen because Indonesia's economic growth fluctuates, thus affecting the increase in poverty. Fluctuations occur due to factors such as national economic conditions, supply-demand, government policies, etc. This can affect the economic growth of NTB, and it also impacts the increasing poverty rate in NTB. In addition, the increasing population is one of the factors that contribute to economic fluctuations and the increase of poor people in NTB.

Effectiveness of Local Revenue and Balance Funds on Capital Expenditure in Indonesian Local Government

Local revenues are revenues obtained by regions based on local regulations to finance regional expenditures, and balancing funds are sources of regional income received from the central government for equitable distribution of regional development in the context of implementing regional autonomy to achieve the objectives of granting autonomy to the regions. The purpose of this study is to determine the effect of regional own-source revenue and equalization funds partially on capital expenditures in provinces in Indonesia in 2020-2022. In this research, the author uses agency theory which outlines this theory provides a disclosure. This research uses a survey approach with a quantitative method research type. The data collection technique uses secondary data with secondary data documentation instruments. The population in this study are 34 provinces in Indonesia in 2020-2022 which will be sampled. The data is processed using the panel data regression statistical method. The results showed that local own-source revenue and equalization funds had a positive and significant effect on capital expenditures in provinces in Indonesia. This indicates that local own-source revenues and equalization funds, which are the largest part of regional revenues, are very capable of influencing the allocation of capital expenditures.