Interests Of Investors Research Articles

Social Media, Friendships, and Financial Literacy Drive Millennial Investments

This study explores the factors influencing millennial interest in investing, focusing on social media usage, investment understanding, and friendships. Using a quantitative approach, data was gathered from 100 respondents through questionnaires and analyzed with IBM SPSS 16. The results indicate that social media usage, investment knowledge, and friendships each significantly affect millennials' interest in investing, both individually and collectively. These findings highlight the pivotal role of digital platforms, financial literacy, and social networks in shaping investment behaviors among millennials. Highlight: Social media usage significantly influences millennials' investment interest. Investment understanding is crucial for millennials' investment decisions. Friendships play a key role in shaping millennial investment behaviors. Keywoard: Millennials, Investing, Social Media, Financial Literacy, Friendships

A review of the limitation of legitimate expectation principle in FET Claims in energy regulatory disputes: Can a balance be achieved?

This article explores the intricate interplay between the right of states to regulate in the context of environmental regulations aimed at decarbonization and an investor's right to investment protection, particularly focusing on the Fair and Equitable Treatment (FET) standard in international investment law. With the increasing importance of environmental regulations such as the US Greenhouse Gas Standards and Guidelines for Fossil Fuel-Fired Power Plants, in the transition to cleaner energy sources, the potential economic impacts on investments and resulting investment disputes could be huge, making the balancing of these competing interests a topical issue. The article delves into the prominence of the FET standard in investment protection and its evolution in international investment law. It argues that the limitation on the legitimate expectation element of the FET standard in modern times poses challenges in balancing states' rights to regulate with the protection of foreign investments in decarbonization disputes. The author asserts that recent developments in international investment law, exemplified by treaties like the EU-Canada Comprehensive Economic and Trade Agreement (CETA) and the United States-Mexico-Canada Agreement (USMCA), signal a shift towards prioritizing states' right to regulate over investment protection. By analyzing the limitations on legitimate expectation and investment protection in modern times and the implications for energy investments in the era of decarbonization, the article aims to shed light on the complexities of reconciling the competing interests of states and investors in the evolving landscape of international investment law. Ultimately, this author contends that achieving a balance between these interests is increasingly challenging and may require a reevaluation of the prevailing norms in investment protection.

The impact of renewable energy sources on economic recovery in Ukraine

The current economy of Ukraine is marked by the urgent need to explore pathways for post-war economic recovery. Considering the severe damage inflicted on the country's energy infrastructure, restoring energy capacity and providing energy resources to both industries and private consumers are becoming critical issues. The conversation surrounding alternative energy sources and renewable energy technologies is gaining traction in this regard. These technologies are often called green technologies, as they prioritize preserving natural resources and promoting the sustainable use of various resources. It is evident that the financing of green technologies requires government involvement; however, a vital responsibility of the state should be to foster a market environment that incentivizes investors to contribute financially to green initiatives, highlighting the complexity and multifaceted nature of the issue at hand. Given this topic's significance, this study aims to assess the impact of renewable energy source utilization on Ukraine's economic recovery efforts. To accomplish this, the following tasks will be undertaken: conducting a statistical analysis of the renewable energy landscape in Ukraine, identifying the primary mechanisms for financing renewable energy projects, and performing a SWOT analysis of the renewable energy sector to gauge potential investor interest. The methodological framework for this research includes statistical analysis and SWOT analysis, which help clarify the strengths, weaknesses, opportunities, and threats associated with adopting green technologies in Ukraine. The findings suggest that one of the principal avenues for financing green technologies should involve green bonds, which serve as a means to attract investments from individuals and organizations to pursue ambitious projects focused on resource conservation and environmental safety. Additionally, the statistical analysis indicates that while Ukraine possesses significant potential for renewable energy development, progress in this area hinges on securing investment resources.

The impact of sustainable development on the relevance of accounting information and financial activities: Evidence from Thailand.

This study investigates the impact of sustainable development on the relevance of accounting information and financial activities of companies listed on the Stock Exchange of Thailand (SET). The results reveal that earnings per share and book value per share have a positive effect on market value, implying that higher earnings signal strong financial performance, thereby attracting more investor interest. Short-term and long-term debt financing have a negative effect on market value, suggesting that debt financing leads to increased financial risk. Current asset and fixed asset investments have a positive effect on market value by signaling confidence in operational performance. Dividend payouts have a positive effect on market value, demonstrating a commitment to returning value to investors, resulting in a stronger firm reputation and investor perception. However, firms that adhere to sustainable development guidelines face more complex dynamics. The results show that both earnings per share and book value per share have a negative effect on market value, suggesting that while they report high earnings per share and book value per share, these financial metrics cannot alleviate investor skepticism regarding sustainability as a cost of the firm. Short-term debt financing has a positive effect on market value because it provides a flexible and efficient way to fund sustainable investments without diluting equity or incurring long-term debt obligations, while the implications of long-term debt financing and current asset investments are insignificant. Furthermore, the significant positive effect of fixed asset investment underscores the potential long-term benefits of sustainability, despite high initial costs. Lastly, the non-significant negative impact of dividend payouts on market value suggests that the overall effect may also depend on various factors. These results support the idea of efficient market theory, which posits that investors may have negative reactions to what they perceive as financial burdens, diminishing the importance of positive financial metrics and altering market value. This study recommends that policymakers should carefully design regulations and incentives to support sustainable investments. Such approaches may include establishing specific funds, tax incentives, subsidies, and soft loans. Additionally, policymakers need to promote transparency and consistent reporting on the long-term financial benefits of sustainability, which can help reduce investor skepticism and foster a more positive market response. Finally, firms should clearly communicate their long-term sustainability efforts and benefits to investors and various stakeholders, leading to a positive interpretation of the firm's commitment to sustainable development.

INTEREST RATES AND INVESTOR RETURNS: A STUDY OF DYNAMICS IN ISLAMIC BANKING

This study aims to evaluate the effect of interest rates on stock returns for investors in Islamic banking in Indonesia. The study employs a descriptive quantitative method and utilizes simple regression analysis to evaluate the impact of interest rates on investor stock returns. The findings indicate that fluctuations in interest rates do not affect the stock returns of investors in Islamic banking in Indonesia. This can be attributed to the fact that Islamic banks operate under a profit-sharing system rather than an interest-based system. Furthermore, Indonesia's predominantly Muslim population places significant importance on Sharia compliance, which serves as a primary consideration for investors in Islamic banking. This indicates that interest rates do not influence investors interest in investing in Islamic banks.

Decoding the Factors Influencing the Investment Preferences of Investors of Bangalore

Introduction: Bangalore, as a metropolitan city, hosts a diverse population, with the largest migrant community in India. Many residents work in Bangalore city to secure their livelihoods and pursue financial prosperity for an improved quality of life. The larger population prefers traditional asset categories like gold, real estate, and saving accounts to grow their wealth. In the modern era, there has been a transformation towards finding alternative investment avenues, including equity, mutual funds, systematic investment plans, insurance products, cryptocurrency, and bank deposits. The economic terrain in Bangalore is experiencing a shift, mixing traditional avenues like gold, real estate, and post office which engage inquiry of modern alternatives such as equities, mutual funds, SIPs, and cryptocurrencies. This transformation prompts fascinating queries: What encourages investors to investigate these innovative options? This study finds the emerging preferences of Bangalore, demonstrating the factors driving towards modern avenues. In addition, it shows a) key factors helping investors to optimize their strategies and b) financial firms targeting to craft investment-oriented financial asset mix adapted to the various requirements of each demographic factor in Bangalore's ever-changing investment environment. Objectives: This study aims to analyze the evolving investment preferences of Bangalore's diverse population, particularly focusing on the shift from traditional assets like gold and real estate to modern investment avenues such as equity, mutual funds, and cryptocurrencies. It seeks to identify the key factors influencing this transition and understand how different demographic groups approach wealth-building in Bangalore’s dynamic economic landscape. Methods: A demographic-based analysis is conducted to explore investment preferences among Bangalore residents. The study segments investors by factors such as age, income, occupation, and financial goals. Data collection includes surveys and statistical analysis, allowing a comparison of preferences between traditional and modern investment options. The study also examines the factors that influence these choices, such as risk tolerance, financial literacy, and economic aspirations. Results: The results indicate a clear shift in Bangalore's investment landscape. While traditional assets like gold, real estate, and savings accounts remain popular, there is a growing interest in alternative investments like equity, mutual funds, and cryptocurrencies. Younger and middle-income investors, in particular, are showing increased interest in high-growth options like systematic investment plans (SIPs) and equities. Financial goals and risk tolerance significantly impact preferences, with younger demographics more inclined to explore high-risk, high-reward investments, while older groups prefer stable, low-risk options. Conclusion: The findings highlight a growing demand for diverse investment options among Bangalore’s residents. Financial institutions can leverage these insights to design investment products tailored to the unique needs of each demographic group. By offering a mix of traditional and modern assets, firms can help investors optimize their portfolios and align with the city’s evolving financial landscape. This customer-centric approach has the potential to support Bangalore’s economic growth by providing investors with adaptable and strategic financial solutions.

Double Materiality Approach and Sustainable Business Model Paradigm: A Three-Fold Analysis

Adopting the United Nations 2030 Agenda for Sustainable Development, governments commit to the 17 goals and 169 associated targets in areas of critical importance for humanity and planet, while companies manifest a growing interest in playing a significant role to SDGs prioritisation. Researchers, policymakers, stakeholders, and analysts are all preoccupied about responsible ways of redesigning the business model to mitigate the growing concerns, such as companies’ failures, global multidimensional crisis, and sustainability-related issues. Under the light of institutional theory, legitimacy theory, stakeholder theory, the aim of this research is to investigate how environmental, social and governance (ESG) policies and practices included in a sustainable business model may respond to the double materiality approach in order to contribute to a balance among divergent interests of managers, investors, and other stakeholders. The financial materiality is conceptualized using ESG data, that mainly targets investor’s needs. Stakeholder materiality, is concerned with external impact of companies, embodied in societal-level outcomes measured as the number of SDGs addressed in corporate reporting. In this study, company-year data are collected from Refinitiv Eikon database, starting with 2015, until current reporting period and analysed using frequency, univariate and correlation analyses. Based on Levene homogeneity, the ANOVA parametric t-test results are validated by Mann-Whitney Wilcoxon and Krushkal Wallis non-parametric tests. Three main research questions are responded. First, the findings examine and discuss the evolution of sustainability reporting measured with ESG scores, decomposed by the three pillars and ten categories, along with the SDGs prioritisation. Second, statistically significant differences in ESG and SDGs variables reported by various groups clustered on industry-related corporate characteristics are discussed. Third, the significant associations between ESG measures and SDGs are analysed from the double materiality perspective. The study contributes to the academic and practical understanding of the evolving business model under normative dimension of institutional theory, incorporating the decision to engage in current sustainability frameworks and policies.

Factors Affecting Muslims' Decision in Tangerang Selatan During Recession to Make Sharia Investment

The pandemic has had a significant impact on the global economy, including Indonesia, which experienced a recession in 2020. However, a unique phenomenon occurs in the Islamic capital market, where Islamic stocks show stability and even experience significant increases during the recession. The study explores how the recession affects the decision of Muslims in Indonesia to invest in Sharia and whether Sharia investment can be an effective solution to deal with a recession. Data from the Central Statistics Agency and the Financial Services Authority shows that the sharia capital market in Indonesia continues to grow, especially in the form of sharia stocks and sharia mutual funds. This study aims to analyze the factors that affect the decision of the Muslim community to make sharia investments during the recession due to the COVID-19 pandemic. This study uses quantitative methods with respondents from various sectors of the Muslim community in Indonesia, including students, office workers, and entrepreneurs. The results of this study found that the decisions of the Muslim community have a significant influence on Islamic investment, with the results of the t-test showing a t-count value of 25.366 and a determination coefficient (R²) of 86.8%. This means that most of the variations in sharia investment can be explained by community decisions, while the remaining 13.2% is influenced by other variables. The conclusion of this study is that increasing Islamic financial literacy and religious understanding can be an effective strategy to encourage interest in Islamic investment in Indonesia. This research is expected to be a reference for financial institutions and policymakers in improving accessibility and education related to Sharia investment.

The Choice of Optimal Risk Retention Forms from the Perspective of Asymmetric Information

The risk retention rule requires issuers to retain part of their securities and share the interests of investors. The different forms of risk retention chosen lead to different financing effects of enterprises. In order to explore the optimal choice of risk retention forms in different environments, according to asset pricing theory and asset securitization practice combined with risk retention rules, we obtain issuer payoff models under three forms of risk retention. Through numerical simulation and economic meaning analysis, we draw the following conclusions: hybrid retention can not only alleviate the side effects of horizontal retention but also reduce the proportion of vertical retention, which can improve the issuer payoffs; horizontal retention is more suitable for situations where asset pool losses are small or asset volatility is large, while vertical retention is the opposite. Therefore, we suggest that securities issuers should consider the assets of enterprises and macroeconomic situations to choose the optimal form of risk retention.

ANALYSIS OF FACTORS AFFECTING STOCK PRICES OF COMPANIES IN THE AGRICULTURE SECTOR

Based on data from BPS (Statistics Indonesia) for 2019-2021, the agricultural sector in Indonesia dominated employment and attracted investment interest from various parties. This study analyzes the impact of fundamental analysis and macroeconomic variables on the fluctuations in stock prices of agricultural sector companies from 2019 to 2023. The aim is to examine the effects of Return on Assets (ROA), Price-Earnings Ratio (PER), Debt to Equity Ratio (DER), and Earnings Price Ratio (EPR) on the stock price movements of agricultural sector companies listed on the Indonesia Stock Exchange (IDX). The study employs a descriptive analysis method, involving the collection, organization, and analysis of data to accurately depict the investigated issue. Data collection was conducted at the IDX from 2019 to 2023 through library research methods, using secondary data in the form of financial reports of agricultural sector companies available on www.idx.co.id. The study utilizes a simple regression analysis model with Eviews 6.0 software to process statistical and econometric data. The panel data combines time series and cross-section data, analyzed using fixed effect and random effect approaches to estimate the regression model. Estimation methods include pooled regression/pooled least squares, assuming constant coefficients for each time and space. The research results indicate that the LSDV/FEM panel regression model is the best, with variables such as DER, Earnings Per Share (EPS), PER, ROA, world oil prices, and the rupiah exchange rate collectively having a significant impact on stock prices in the agricultural sector. Additionally, classical assumption analysis shows that the data is stationary, normally distributed, free from multicollinearity, heteroscedasticity, and autocorrelation. The managerial implication of these findings is that investors should consider purchasing stocks in the agricultural sector, taking into account fundamental conditions, macroeconomic factors, and technical analysis.

A Study on Comprehensive Analysis of Fintech Unicorn Companies In India

This analysis of Indian fintech unicorn companies explores their significant impact on India’s financial landscape and global fintech. Motivated by their rapid growth and role in promoting financial inclusion, the study also examines the regulatory environment and the substantial investor interest these companies attract. Key focus areas include the competitive landscape, global implications, and gaps in existing knowledge. The research methodology incorporates literature reviews and industry report analysis, assessing historical valuation data, financial statements, and key metrics of selected companies. Findings reveal a vibrant fintech ecosystem in India, with startups specializing in digital payments, lending, and insurance. Valuation trends among these unicorns vary, highlighting the industry’s dynamism. A moderate positive correlation between investment and revenue underscores the role of funding in driving growth. The study provides valuable insights for policymakers, investors, and industry leaders, aiding strategic decisions and enhancing understanding of Indian fintech’s global influence.

Corporate Sustainability Reporting and Financial Performance: An Empirical Analysis of Indian Listed Companies

This empirical analysis examines the relationship between corporate sustainability reporting and financial performance among Indian listed companies. In recent years, sustainability has gained prominence in corporate strategy due to increasing regulatory requirements, investor interest, and stakeholder expectations. The study explores how sustainability reporting, as disclosed through corporate sustainability reports (CSR), affects the financial performance of companies. Using a sample of Indian companies listed on major stock exchanges, the study analyzes data on sustainability disclosures, financial performance indicators (such as return on assets, return on equity, and market valuation), and various control variables. The analysis employs statistical methods, including regression models, to identify the correlation and potential causal linkages between sustainability reporting and financial performance. The findings suggest a positive relationship between comprehensive sustainability reporting and financial performance, indicating that companies with better sustainability practices tend to experience higher financial returns and market valuation. The results also highlight the role of regulatory frameworks, industry-specific factors, and company size in shaping the strength of this relationship. This study contributes to the growing body of literature on corporate sustainability by providing insights specific to the Indian context, where sustainability reporting practices are evolving. It suggests that companies engaging in transparent and detailed sustainability reporting may achieve not only environmental and social benefits but also financial gains, making sustainability a strategic priority for long-term value creation.

Resolving Disputes in International investment through Arbitration

This paper brings forth an extensive analysis of the role of arbitration in resolving disputes in international investment, providing a comparative study of the existing frameworks and emerging alternatives. As cross-border investments continue to grow, disputes between foreign investors and host states have become increasingly common. International arbitration has emerged as the preferred method for resolving such conflicts due to its neutrality, enforceability, and flexibility. The paper explores the key legal instruments governing international investment arbitration, including Bilateral Investment Treaties (BITs), Free Trade Agreements (FTAs), and multilateral agreements like the Energy Charter Treaty. It also examines the two most widely used procedural frameworks: the International Centre for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL), comparing their distinct approaches to arbitration. While arbitration has proven effective, it faces growing criticisms, including high costs, lengthy proceedings, and concerns about transparency and arbitrator impartiality. The research also highlights regional initiatives, particularly in Latin America and China, which reflect diverse approaches to investment dispute resolution. By comparing these frameworks and emerging trends, the paper sheds light on the strengths, weaknesses, and future direction of international investment arbitration, emphasizing the need for a more transparent, equitable, and accessible system to balance the interests of investors and host states. The analysis concludes by assessing the potential impact of these reforms on the future of international investment law.

Connectedness between green bonds, clean energy markets and carbon quota prices: Time and frequency dynamics

In this paper, we investigate the time and frequency dynamics of connectedness among green assets such as green bonds, clean energy markets, and carbon prices. Using daily price data, we explore return spillovers across these green financial markets by applying the novel framework on time and frequency dynamics proposed by Baruník and Krehlík (2018). This allows us to identify the direction of spillovers among our variables, and decompose the connectedness to differentiate between short-term and long-term return spillovers. Our results indicate that green bonds and carbon prices act as net receivers of shocks, but mainly in the short-term. We also observe a low level of connectedness among our clean energy markets across both low and high frequency bands, even during times of economic or political crisis. Additionally, there are periods in which connectedness between the clean energy assets is driven by the long-term. In periods of economic and political stability, carbon prices may also provide an interesting diversifying tool for short-term investors. Our results should be of interest for investors and portfolio managers who focus on green financial markets, by strengthening the notion that green financial markets can offer diversification opportunities, for both short-term and long-term investors. Policy makers could also benefit from our insights on conectedness in their work on short-term and long-term climate policies. This paper is the first to use this framework to investigate systematic risks within green financial markets.

PENGUJIAN DECISION MAKING MODEL DENGAN MEDIASI FINANCIAL LITERACY DAN RISK TOLERANCE DALAM MEMPREDIKSI PERILAKU INVESTASI MAHASISWA

This study aims to test the investment decision model among college students by integrating financial literacy and risk tolerance as mediating variables. The sample in this study were students who had invested. The data analysis technique used in this research is Structural Equation Modeling (SEM). Testing includes measurement models (outer model) and structural models (inner model). The results of this study indicate that mental accounting, herding behavior, and risk preference directly affect investment interest. Risk tolerance can mediate the effect of herding behavior on investment interest. In addition, financial literacy can mediate the influence between mental accounting and risk preference on investment interest. Furthermore, interest is the dominant factor in driving investment decisions. This research contributes theoretically by expanding the investment decision-making model, especially among students.

Problems and challenges of development of Ukraine: investment and personnel aspect

In the conceptual and methodological sense, the article considers war as a force majeure factor, the action of which has multifaceted negative consequences in the form of increasing risks of physical destruction of human and material resources, deterioration of their quality parameters, in particular, the mental and physical state of health of the population. The magnitude and scope of the loss of national wealth as a result of the full-scale war of the Russian Federation against Ukraine deepened the previously formed contradictions and asymmetries of a diverse nature in the economic system of our country. Socio-economic consequences are manifested in large-scale emigration, the appearance of forcibly displaced persons, a shortage of qualified labor, an asymmetry between demand and its supply in the domestic labor market, and a decrease in the number of jobs. Restoration of life-supporting objects of national wealth is considered as an objective prerequisite for the existence and victory of our state in this war. The article substantiates the leading role of state regulation in recovery by using a set of forms and methods of centralized influence on its organization and planning, presents the principles of participation of international partners in it. In the context of the leading role of the regulatory influence of the state on the reconstruction processes of Ukraine, the need for a systematic approach to solving the tactical and strategic tasks of restoring the economic potential of our country is substantiated. When developing and choosing a model for its restoration, priority should be given to the economic interests of domestic investors, employers, and workers. It was determined that its implementation allows to ensure the achievement of multifaceted positive results in the reconstruction of the economy of Ukraine. Objectively necessary prerequisites for the latter are the management of modernization processes by representatives of Ukrainian entrepreneurship, whose activities are based on the principles and principles of corporate social responsibility of business. In the conditions of war, this involves ensuring the functioning and development of enterprises located in the territory controlled by our state, employment of forcibly displaced persons, improvement of their welfare, compliance with laws and payment of all taxes, establishment of public-private partnership between socially responsible business and state institutions. Investing in rebuilding the economic potential of Ukraine is considered an objective phenomenon that is under the influence of state regulatory levers, the use of which is aimed at creating a favorable investment climate in the country. The negative impact on its state due to the lack of effective taxation, imperfection of land legislation, irrationality of the banking system, the absence of a national state credit investment company functionally aimed at identifying investment priorities with their technical and economic justification, control over the provision of benefits, the annexation of Crimea, the occupation of parts of the eastern oblasts and the conduct of military operations there, shelling of populated areas, which increases the likelihood of investment risks.

The impact of venture capital subscription on price deviation of private placement: evidence from China

Purpose The purpose of this study is to examine the role of venture capital (VC) in supporting corporate growth and innovation through participation in private placements. While VC provides essential financial support to companies, it remains unclear whether this involvement serves a strategic investment role or a purely financial one. This study seeks to elucidate the role of VC by analyzing changes in the price discount of private placements following VC participation. Design/methodology/approach The authors take the private placement events of China A share listed companies from April 2005 to January 2023 as the sample, and examine the influence of VC subscriptions on price discount rate. Findings VC subscriptions to private placements increase information asymmetry, consequently raising the discount rate. This relationship is influenced by the transaction characteristics and information environment. Specifically, VC subscriptions further elevate the discount rate when VC are geographically dispersed from the issuers, possess industry expertise in the issuers’ sector, allocate raised funds for asset restructuring or non-digital investments and when the issuers are in their growth stages. Moreover, the positive correlation between VC subscriptions and the discount rate is more pronounced under conditions of lower internal control quality and weaker external media supervision. Higher discount rates in VC-subscribed private placements result in lower R&D investment and investment efficiency by the issuers, leading to larger-scale VC sell-offs and ultimately diminishing the market and financial performance of the issuers. Practical implications The issuers should diligently assess the behaviors and motives of VC and selectively choose issuance targets and methods to manage risks associated with price deviations in private placements. Additionally, this study recommends that regulatory authorities develop a more detailed regulatory framework that considers transaction characteristics and the information environment. This strategy should help optimize external regulatory measures like media coverage and protect the interests of small and medium-sized investors. Originality/value This study extends research on the “name chasing” motive and certification effect of VC in private placements, enriches the literature on the mechanisms forming discount rates and provides insights for refining regulatory policies on private placements.

Game-theoretic optimization strategy for maximizing profits to both end-users and suppliers in building rooftop PV-based microgrids

Rooftop photovoltaic (PV) with battery storage offers a promising avenue for enhancing renewable energy integration in buildings. Creating microgrids with backup power from closely spaced solar buildings is widely recognized as an effective strategy. Nevertheless, a notable gap exists between the preferences and priorities of electricity consumers residing in these solar-powered buildings and the interests of microgrid investors. The electricity consumers focus on decreasing the levelized cost of energy, while the microgrid investors focuses on achieving high net profit. This study proposes a novel game theory-based microgrid optimal design approach for designing power generations of the microgrid system and PV installation with battery storage on the building roofs, considering the different requirements and interests of electricity consumers and microgrid investors. The design optimization is framed around the Nash Equilibrium of the Stackelberg game, incorporating a bi-level optimization cycle that addresses the conflict and cooperation of electricity consumers and microgrid investors. A win-win situation can be yielded using the developed optimal design approach compared to conventional optimal design approaches. The results demonstrate a significant improvement, with the microgrid power generation yielding a large net profit (up to 0.08 USD/kWh) and concurrently reducing the levelized cost of energy by approximately 14 %.

Corporate Social Responsibility and Country Governance: An International Comparative Study Amid the COVID-19 Pandemic

This paper assesses the association of ESG scores with stock returns and highlights the moderating role of the COVID-19 pandemic and the country’s governance. The study uses panel data regression models to assess the relationship between ESG factors and stock returns, focusing on the moderating role of country governance and the COVID-19 pandemic. The results reveal that governance quality significantly enhances the positive effects of ESG practices on returns, particularly during times of crisis. These suggest that higher overall ESG scores are related positively to financial performance, and this relation is enhanced during the COVID-19 pandemic. Specifically, the two dimensions of ESG that matter most are environmental and governance. Country-level governance is important because firms in well-governed countries amplify the benefits of high ESG scores. The opposite is true for the higher controversies scores, whose bad financial outcome is magnified during the pandemic. These results present an argument for the resilience of firm financial performance, dependent on strong ESG practices and governance frameworks. This holds great interest for investors and policymakers in associating good ESG considerations with the effective management of financial risks, leading to sustainable returns during periods of widespread economic uncertainty.

LEGAL POLITICS OF FORESTRY LICENSING IN THE PERSPECTIVE OF INDONESIAN LAWS AND REGULATIONS

The purpose of this research is to see how the legislation on forestry licensing regulations before and after the Job Creation Law. This research uses normative juridical conceptual, statutory, and historical types. The study found that the politics of forestry law has a significant impact as it relates to the dominance and stakes between an economy focused on investment interests and sustainable forest area cover during the development process. Previous problems related to forest management were not addressed by the legal regulations related to licensing in the forestry sector of the CK Law. However, the provisions of the CK Law focus on the exploitation of forest resources, which may exacerbate carbon emissions as investment in forest utilization increases. On the one hand, the changes made to the provisions of the Forestry Law in the CK Law are expected to increase investment because they simplify licensing, allow multi-businesses, and allow foreign investment to enter. On the other hand, the changes have a negative impact on natural resource management because they remove commitments to maintain certain forests, confirm and maintain differences in the utilization of forest products between large entrepreneurs and traditional communities, and marginalize communities.