Market Interest Research Articles

INTEREST RATES IN INDONESIAN BANKS' ASYMMETRIC BEHAVIOR AND DEGREE OF PASSTHROUGH

Interest rate changes result in a trade-off between reducing inflation and capital inflows. Capital inflow will reduce money market interest rates as low as possible, followed by lower lending and deposit rates. On the other hand, it is difficult to lower the benchmark interest rate due to inflation pressure. The asymmetric movement of lending and deposit interest rates to the benchmark interest rate has caused disturbances to the monetary transmission mechanism. The results of the estimated error-correction model for variable lending rates found that the long-term passthrough of Indonesian banks was significant but could have been better on interest rates on working capital loans and investment loans. This study shows an asymmetrical behavior in banking interest rates in Indonesia. The passthrough degree is typically slow when there is a decrease in the benchmark interest rate.

Study on the China's real interest rate after including housing price factor into CPI.

The Chinese economy has undergone a long-term transition reform, but there is still a planned economy characteristic in the financial sector, which is financial repression. Due to the existence of financial repression, China's actual interest rate level should be lower than the Consumer Price Index (CPI). However, based on official China's interest rates and CPI, over half of the years China's actual interest rate remained higher than CPI by our calculation from 1999 to 2022. This is inconsistent with the financial repression that exists in China, and the main reason is the calculation methods of China's CPI. China's CPI measurement system originated from the planned economy era, which did not fully consider the rise in housing purchase prices, so the current CPI measurement system can be more realistically presented by taking the rise in housing prices into consider. The core idea of this study is to mining relevant official statistical data and calculate the proportion of Chinese residents' expenditure on purchasing houses to their total expenditure. By taking the proportion of house purchases as the weight of house price factor, and taking the proportion of other consumption as the weight of official CPI, the Generalized CPI (GCPI) is formulated. The GCPI is then compared with market interest rates to determine the actual interest rate situation in China over the past 20 years. This study has found that if GCPI is used as a measure, China's real interest rates have been negative for most years since 1999. Chinese residents have suffered the negative effects of financial repression over the past 20 years, and their property income cannot keep up with the actual losses caused by inflation. Therefore, it is believed that China's CPI calculation method should be adjusted to take into account the rise in housing prices, so China's actual inflation level could be more accurately reflected. In view of the above, deepening interest rate marketization reform and expand channels for financial investment are the future development goals of China's financial system.

Use of covalent dynamic networks as binders on epoxy‐based carbon fiber composites: Effect on properties, processing, and recyclability

AbstractComposites are gaining widespread market interest due to their outstanding mechanical properties and light weight. However, this growth is hindered by the lack of sustainable recycling solutions. This research aims to integrate reversible chemistries to advanced carbon fiber‐reinforced composite materials for recycling in a so‐called eco‐design, circular approach. Diene and dienophile reactions are generated at the surface of the carbon fiber allowing a bond–debond interaction with the epoxy matrix. The application of the Diels–Alder adduct on the fiber modifies its polarity and structure. This research assesses a biobased and synthetic epoxy equivalent and demonstrates that this newly developed interphase chemistry has a direct impact on the crosslinking efficiency of the resin, as well as on their interlaminar properties. Furthermore, it has been observed that depending on the type of resin, these changes can have differing impacts on final properties of the composite, reducing the crosslinking density up to 50% in some modifications while in others the Tg remains constant.

Converter Kit Technology Commercialization Strategy as A Solution for The Acceleration of The Electric Motor Vehicle Program

In Indonesia, motorcycle ownership is more than other motorized vehicles. However, the more motorbikes are used, the more vehicle emissions are released. So we need transportation solutions that are more environmentally friendly and energy efficient such as electric motorbikes which can be obtained with a converter kit by still utilizing existing conventional motorbike parts as provided by PT. A B C. However, many challenges were encountered in the commercialization of the converter kit from PT ABC, such as limited and uncertain suppliers, limited introduction to the market, and unpreparedness of Human Resources in product management. This study aims to analyze the constraints on the commercialization process of converter kit products as a basis for designing supply chain engineering proposals and appropriate business engineering. Based on the analysis of TRL and Goldsmith, it shows that the product is at TRL 8 or has fulfilled the requirements, but still has various obstacles. Based on the SWOT analysis, the company still has several shortcomings due to limited market interest, marketing strategies implemented, and price volatility. The results show that there is a business strategy design using the Business Model Canvas method to accelerate technology commercialization, one of which is through the expansion of existing partnership and marketing systems.

Tail risk in the Chinese stock market: An AEV model on the maximal drawdowns

This paper proposes a novel autoregressive extreme value (AEV) framework with covariates to capture the time-dependent dynamics of financial tail risk. Using the intra-day maxima of 5-minute potential drawdowns for CSI300 in the Chinese stock market, the study estimates an AEV(1,1) model with the effects of the foreign exchange market, interest rate market, and commodity futures market. The empirical results suggest that the commodity futures market plays a role in driving the maximal drawdown. Moreover, the tail index of AEV sensitively captures the clustering of tail behaviors in the Chinese stock market. Finally, the backtesting evidence further demonstrates that AEV exhibits satisfactory forecasting performance for Value-at-Risk in the Chinese stock market.

Design of a multiproduct reactive distillation system for DEC and EMC production

Multiproduct processes are gaining interest as part of the development of intensified structures. In this work, an optimal design of a flexible diethyl carbonate (DEC) and ethyl methyl carbonate (EMC) multiproduct process is developed. DEC is a main product that is commonly produced through multi-reaction dimethyl carbonate (DMC) transesterification. However, EMC, an intermediate product, also has a significant market interest. This work explores the use of a multiproduct process that integrates a reactive and a separation column to produce either DEC or EMC. The design was obtained aided by a process optimization task with genetic algorithms tied to Aspen Plus rigorous simulations. The results show that a common design for the production of both products can be obtained, with total annual cost savings of 22% with respect to a base design taken from the literature. Additionally, an initial dynamic analysis shows that the multiproduct process can be controlled in the face of feed flow and composition disturbances.

PENGARUH PENGETAHUAN INVESTASI, LITERASI KEUANGAN, RISIKO INVESTASI DAN EFIKASI KEUANGAN TERHADAP MINAT INVESTASI MAHASISWA DI PMS

Globalization has led to the emergence of a variety of investment products that are readily available to students for investing, particularly those enrolled in study programs in Islamic Financial Management and Islamic Economics who have taken courses on Islamic capital markets. In actuality, there is still not much enthusiasm in investing. This research was conducted to test the influence of investment knowledge, financial literacy, investment risk, and financial effectiveness on student investment interest in the Sharia capital market on students of Sharia Financial Management and Sharia Economy at UIN Sayyid Ali Rahmatullah Tulungagung. The method adopted for this study is a quantitative method. 245 students served as the main source of research data through the use of a questionnaire in data gathering. Data testing using SPSS 25 for validity tests, reliability tests, normality tests, multicolinearity tests and determination coefficient tests. Research results show that investment knowledge, financial literacy, financial effectiveness have a positive and significant impact on investment interest. Investment risk has a negative and significant impact on investment interest. Investment knowledge, financial literacy, investment risk, and financial effectiveness simultaneously have a positive and significant impact on student investment interest in the Sharia capital market

Evaluasi Kinerja Generator Microbubble Terhadap Kondisi Nutrisi dan Respon Pertumbuhan Kailan (Brassica Oleraceae) Secara Hidroponik Sistem DFT Di Dalam Greenhouse

The kailan plant (Brassica oleraceae) has high commercial potential due to its high nutritional content, delicious taste, and high market interest. Kailan could be cultivated through hydroponic planting by utilizing limited land. The DFT hydroponic system is an option due to faster and constant growth, shorter harvest period, and easy maintenance. If the power goes out, the plants can still survive. One of the weaknesses is the limited oxygen availability due to poor circulation. This study aimed to determine the effect of using a microbubble generator to enrich oxygen on nutritional conditions and the growth response of kailan plants compared to plant growth without a microbubble generator. The applied method in this study was to compare nutritional content and plant growth responses between using a microbubble generator and without utilizing a microbubble generator. The results showed that using the microbubble generator affected nutrients' concentration, temperature, and pH and positively impacted plant growth responses: number of leaves, root condition and plant weight at harvest period.

The asymmetry and uncertainty effects on the response of the yield curve to Brazilian monetary policy

We investigate the influence of the Central Bank of Brazil’s Monetary Policy Committee (COPOM) decisions on the term structure of interest rate. We consider four possible drivers of market movements: (i) the effective surprise in the decision compared to market expectations; (ii) the asymmetric market responses to positive or negative changes in the monetary policy interest rate; (iii) the influence of economic uncertainty around meetings; and (iv) the effects of these changes on market behavior over time. We find that the monetary surprise coefficients have negative values for long-term rates. Moreover, we find an asymmetric response of the sign of the change in the monetary policy interest rate. There is evidence that, in general, positive changes in the interest rate are more difficult to predict by the market. Higher uncertainty increases the effect of the monetary policy surprise component in the short-term and reduces the effect in the long-term yield rates. Moreover, there is a reduction in the impact of the surprise component on the Brazilian interest rate market over time.

Digital Marketing Strategy to Attract New Customer for Dental Clinic (Case Study: Bandung Dental Center)

Recently, there has been a growing interest in online marketing within the healthcare industry, including dental care. Utilizing the internet and social media platforms has become crucial for reaching the target audience effectively. While positive word-of-mouth remains significant for dental clinics, having a strong online presence and an appealing website can greatly contribute to attracting new patients. Bandung Dental Centre aims to enhance its services and compete with other clinics through digital marketing. The general manager of Bandung Dental Centre expressed dissatisfaction with the clinic’s performance, observing a decline in the number of patients which has resulted in stagnant revenue growth. The author conducted a survey among 52 customers to evaluate the influence of the internet and social media on their decision to visit dental clinics. The survey results highlight customer service as the most influential variable, while the clinic’s reputation and dentists had a negative impact on customers. Therefore, these aspects require evaluation and improvement. The author provides recommendations to enhance Bandung Dental Centre’s digital marketing strategy, including Instagram Optimization, SEO improvement, Google Maps optimization, and the possibility of hiring a digital marketing agency. Furthermore, an implementation plan was developed to guide BDC staff in executing these strategies, even without a specific budget for hiring a digital marketing agency.

Retracted: Correlation Analysis of Interbank Money Market Interest Rate and Financial Crisis Based on Neural Network Model

Retracted: Correlation Analysis of Interbank Money Market Interest Rate and Financial Crisis Based on Neural Network Model

Biotechnological Applications of Products Released by Marine Microorganisms for Cold Adaptation Strategies: Polyunsaturated Fatty Acids, Antioxidants, and Antifreeze Proteins

Marine organisms have developed a series of defense and adaptation strategies, permitting them to live and survive in peculiar environments, ranging from temperate to tropical and polar regions, high to low salinity areas and different light conditions, as well as are constantly exposed to variations induced by climate change and human activities. These defense strategies include the production of molecules and enzymes which may have applications for humans as well. In this review, we summarized the studies on bacterial and microalgal polyunsaturated fatty acids, antioxidants, and antifreeze proteins, which can find applications in different market sectors, such as feed and cosmetic fields. For all the aforementioned compounds, the compound annual growth rate is expected to increase by 5.35–36.3% in the near future, as the market interest toward these products is on the rise. Both industries and researchers are focused on developing mechanisms to reduce production time and costs, improve yields, and discover new proteins.

Foreign Investment, State Capitalism, and National Development in Borneo: Rethinking Brunei–China Economic Relations

Faced with dwindling oil and gas reserves, Brunei has been hard-pressed to diversify its reliance on hydrocarbon. China has emerged as an attractive prospect to the Brunei government, especially since the launch of the Belt and Road Initiative. This article analyses a few major Chinese projects in Brunei and postulates three interrelated arguments. Firstly, Chinese investors have targeted Brunei's natural resources and fiscal incentives. These firms have minimal interest in the Sultanate's small domestic market as they eye the export sector. Secondly, these projects have been orchestrated by China's provincially-owned state-owned enterprises (SOE) and private firms, instead of centrally- controlled SOEs. State support has generally been channelled to these projects in an at-arm's length manner. Thirdly, while Brunei is relatively skilled in attracting Chinese investors to further its own political economic goals, at least in the short-run, it is uncertain whether such capital exports have helped in ameliorating the structural limits of the country’s economy.

Using social robots for language learning: are we there yet?

Along with the development of speech and language technologies and growing market interest, social robots have attracted more academic and commercial attention in recent decades. Their multimodal embodiment offers a broad range of possibilities, which have gained importance in the education sector. It has also led to a new technology-based field of language education: robot-assisted language learning (RALL). RALL has developed rapidly in second language learning, especially driven by the need to compensate for the shortage of first-language tutors. There are many implementation cases and studies of social robots, from early government-led attempts in Japan and South Korea to increasing research interests in Europe and worldwide. Compared with RALL used for English as a foreign language (EFL), however, there are fewer studies on applying RALL for teaching Chinese as a foreign language (CFL). One potential reason is that RALL is not well-known in the CFL field. This scope review paper attempts to fill this gap by addressing the balance between classroom implementation and research frontiers of social robots. The review first introduces the technical tool used in RALL, namely the social robot, at a high level. It then presents a historical overview of the real-life implementation of social robots in language classrooms in East Asia and Europe. It then provides a summary of the evaluation of RALL from the perspectives of L2 learners, teachers and technology developers. The overall goal of this paper is to gain insights into RALL's potential and challenges and identify a rich set of open research questions for applying RALL to CFL. It is hoped that the review may inform interdisciplinary analysis and practice for scientific research and front-line teaching in future.

A monetary policy–based explanation of swap spreads in China

AbstractThe dynamics of swap spreads in China cannot be explained by commonly recognized factors documented in the literature. A unique feature of China's financial system is that commercial banks are not only long‐term loan providers but also dominant bond investors. Thus, the loan prime rate (LPR) is an opportunity cost for commercial banks' bond holdings. However, the LPR is largely determined by the central bank and often deviates significantly from equilibrium. In contrast, the swap rate is largely determined by the market. Our illustrative model and empirical evidence show that the LPR and funding availability affect bond yields more than swap rates, while volatility in the money market interest rate affects swap rates more than bond yields. Therefore, the swap spread is largely driven by the monetary policy. We also show that swap spreads can be a predictor of excess returns on bonds but not swaps.

Effect of Money Market Operations on Industrial Productivity in Nigeria

Nigeria's industrial zone is often seen as an instrument of economic development, and the financial sector is frequently seen as the fuel that accelerates the growth of that sector. These two areas are bound to interact in a way that benefits both. To that end, this study evaluated the impact of money market activities on industrial production in Nigeria. Quantitative data (time series data) was sourced from the Central Bank of Nigeria's statistics bulletin in 2021. The findings discovered that the interest rate was a highly predictive and negative factor for industrial sector production in Nigeria, but had little to no influence on production directly. But there exists a strong positive correlation amid the money supply and industrial production in Nigeria. Findings suggest that money market interest rates should be decreased and maintained by regulatory bodies at current levels. It is the job of the central bank to make sure there is always enough cash on hand for productive endeavours.

Analysis of Coffee Shop Business Strategy in Bandar Lampung

MSMEs boost Indonesia's economy. MSMEs create jobs and reduce poverty in Indonesia, accounting for 56% of business investment and 97% of household work. The number of coffee shops indicates market interest in them. Coffee shops are now used for studying, meeting, and hanging out with friends. Teenagers visit Bandar Lampung City's MSME businesses. Shop and cafe owners benefit from the market segmentation of young people. Even though young people and teenagers love it, a coffee shop must innovate and grow to survive because so many businesses can copy it. This study used quantitative and descriptive qualitative methods. This method collects, analyzes, and interprets data. This chapter's matching and decision stage matrices use EFE, IFE, QSPM data. Early in strategy formulation, the input tool measures subjectivity. The strategist can better generate, prioritize, evaluate, and choose strategies in the Quantitative Strategic Planning matrix by making minor decisions about the relative importance of external and internal factors in the input matrix

Relationship Between Regulatory Interest and Market Interest Rates in Vietnam: Quantitative Analysis Perspective

The article studies the relationship between regulatory interest and market interest rates in Vietnam from 2015 – 2022. This relationship has been mentioned in many theories and empirical studies in different countries and in different periods. In order to explain it, the research team collected data on the refinancing rate – which represents the regulatory interest rates and lending rates – representing the market interest rates from 2005 to 2022. The data is collected quarterly and analyzed using Eviews8 software to build a linear regression model showing the relationship between regulatory interest rates and market interest rates during the research period. In this article, the research team divides the research period into three phases: 2005Q1 – 2011Q4, 2012Q1 – 2016Q4, 2017Q1 – 2022Q4. The results of the linear regression model show that for the period 2005Q1 – 2011Q4, when the regulatory interest rate increases by 1%, the market interest rate increases by 1%, the market interest rate increases by 0.7326%; for the period 2012Q1 – 2016Q4, when the regulatory interest rate increases by 1%, the market interest rate increases by 0.5943%; for the period 2017Q1-2022Q4, when the regulatory interest rate increases by 1%, the market interest rate increases by 0.2269%. This shows a positive relationship of regulatory interest rate and market interest rate. In addition, for the period 2012Q1-2016Q4, the research team added trend variables and for the period 2017Q1-2022Q4 the research team added trend variables and dummy variables to the regression model. It also proves that the market interest rate in the research period is governed by the trend and volatility of the economy. From the research results, the research team made several exchanges and discussions to improve the effectiveness of the interest rate management policy in order to achieve the goal of stabilizing the macro economy and supporting economic growth.

BONO GETİRİLERİ, BIST-100 İLE BANKA KARLILIĞI ARASINDAKİ İLİŞKİ

The purpose of this study is to analyze the impact of bond return index (proxy for market interest rate) as well as BIST-100 (proxy for economic activity) upon bank profitability. The scope of this paper is Turkey. Data covers quarterly period between 2011 and 2021, data structure is panel data. Panel Dynamic Ordinary Least Squares (DOLS) is used in econometric analysis conducted in this study. ROA ratio of commercial bank, participation banks (non-interest banking industry) and investment & development banks are used as dependent variable; on the other hand, all-bond return index (as a reference for bond market interest rates) and BIST-100 return index are used as explanatory variables. Finding of the analysis indicate that the bond yield index (BOND) and the stock return index (BIST100) have a positive and statistically significant impact on the return on assets (ROA) of banks.

THE INFLUENCE OF MOTIVATION AND MINIMAL CAPITAL ON STUDENTS' INTEREST IN INVESTING IN THE ISLAMIC CAPITAL MARKET AT THE EX-RESIDENCE OF PATI

The desire to invest in Indonesian society including student is still very low, especially investment in the capital market. This is because of the views of the community and students who think that invesment contains risks and requires a lot of capital. In this reseacrh, the purpose to do knowing the effect of motivation and minimal capital on investment interest in the capital market in Pati Ex-residency students. The population in this research were students of the former residency of starch which included STAI Pati, IPMAFA, IAIN Kudus, University of Muria Kudus, STIKES BAKTI UTAMA, and UNISNU Jepara with a total sample of 102 students. Sampling method with random sampling technique. The method used to analyze the data is multiple linear regression. The results of this study indicate that motivation, minimal capital has an effect on the interest of Ex-Residency Pati students to invest in the islamic capital market.