Investment Counsel Research Articles

CREATIVE ECONOMY IMPROVEMENT WITH ENTREPRENEURSHIP FOR THE PEOPLE OF SEMARANG CITY

<p>In facing business competition, the empowerment of human resources needs to be optimized so that people can be competitive, independent and able to compete with other products on the market in the era of the industrial revolution 4.0. The era of revolution 4.0 is a challenge in itself for MSMEs so that efforts are made to overcome these problems, namely socialization of Entrepreneurship and product innovation, socialization of Digital Marketing, socialization of Digital Payment, and investment counseling. The debriefing process requires the role of Community Service Program so that the goals can be created, namely the welfare of the community and educating businessman in business development in the future. This is expected that businessman will be able to create product improvement steps, and several aspects that need to be considered in running a business so that businessman in the Mangunharjo RW 03 will be more independent and innovative in facing business competition in the era of the industrial revolution 4.0.</p>

KEBIJAKAN FISKAL ZAKAT DAN PAJAK PADA PEREKONOMIAN (Studi Komparatif Ekonomi Islam, Klasik dan Keynes)

This paper studies difference of analysis policy of fiscal religious obligatory (zakat) and tax in chartered investment counsel Classic, Keynes and Islam chartered investment counsel. In Islam chartered investment counsel there is religious obligatory which must be packed into model calculation earnings, because religious obligatory that with existence of religious obligatory will give larger one in economics through effect multiplier compared to chartered investment counsel system Classical and Keynes which only apply tax. It also argues that given the requirements of Muslim countries a direct tax and zakat on personal consumption expenditure. It would be comparable effect of direct taxes and zakat on their systems. Its introduction would help in financing a high level of economic development. Since it is highly anti-inflationary, its introduction would help in controlling inflation and achieving much desired price stability. More importantly, an expenditure tax by favoring saving vis-ai-vis consumption would expand zakat base. In order to realize these advantages an attempt is made in this paper to develop a workable model of an expenditure tax and zakat which would incorporate within itself the shariah based prescriptions. Profit and loss sharing, categorization of saving the creation of national equity fund are some of its prominent features.

PENGARUH NILAI TUKAR RUPIAH SERTA TINGKAT SUKU BUNGA TERHADAP PENERIMAAN PAJAK PADA DIREKTORAT JENDERAL PAJAK

Acceptance receiving of Tax is one of source of acceptance receiving of biggest state compared to acceptance receiving from sector migas and acceptance receiving of other state. Tax gives contribution of acceptance receiving 70,46 % to APBN the year 2007.Acceptance receiving of Tax cannot be independent separated from macro factor of other chartered investment counsel of sebagimana has been disumsikan at the time of compilation APBN, like chartered investment counsel growth, rupiah conversion value, level of interest rate, level of the price of commodity exchange incorporated at international market, and commodity exchange incorporated production rate in country. Macro factor of the chartered investment counsel haves the character of dynamic and changes as according to condition of run economics at that moment while acceptance receiving plan of Pajak has been specified beginning of year as according to pegging of Anggaran and Pendapatan Belanja Negara.To check whether there or is not there influence from alteration of macro factor of the chartered investment counsel to tax acceptance receiving, hence at this research will be studied about rupiah conversion value influence, and level of interest rate to acceptance receiving of tax at Tax Directorate General.To answer the problems, data collected from various sources and analysed with associative method ( relationship) is having the character of interaktif resiprokal or is each other influence. Research variable data collected to be checked with linear regression passed testing of linierity and testing of classic assumption.Result of research shows existence of influence signifikan to level of rupiah conversion value, and level of interest rate to acceptance receiving of good tax x'selfly ( parsial ) and also joinly ( simultan ).

EKONOMI MELAYU DALAM TATANAN EKONOMI ISLAM

This article discuss Malay economics in Islam economics order, between of jejula (Arisan) skim , garden pawn skim, pedua skim, promise sales skim, jetty money sales skim (having deposit), installment sales skim and all. This study concludes all these study behavior of Malay chartered investment counsel becoming the culture based on to Islam chartered investment counsel. This caused that exercise of culture done by Malay public is not quit of conceited al-Qur'an and Hadis

Inter-region Economic Analysis to Improve Economic Development Maritime In North Maluku Province

The main purpose of this research to analysis sector and sub-sector development of chartered investment counsel maritime between regions which is bases sector in sub-province and opportunity of job activity at sub-sector fishery of sub-province in North Maluku with observation PDRB sub-province/town during five years (2009-2013). Then, analyses development policy strategy of chartered investment counsel maritime North Maluku. By using technique analyses LQ, multiplier effect, and AHP. The result of analysis shows sub-province Halmahera South and second archipelago Sula of the sub-province that there is sector and sub-sector bases which at most when in comparing to sector and sub-sector bases there is sub-province/town province North Maluku, multiplier effect opportunity of job activity at sub-sector fishery happened in the year 2010 that there is in sub-province/city West Halmahera, South-east Halmahera, East Halmahera North Halmahera, and city of Tidore archipelago’s. In the year of 2013, multiplier effect sub-sector fishery catches there is at sub-province West Halmahera, South Halmahera, and the city of Tidore archipelagoes. Development policy strategy of chartered investment counsel maritime human resource, public service, natural resources with fishery & oceanic requirement in making a preference for development of chartered investment counsel maritime of North Maluku. Keywords: Economic Between Regions, Pre-Eminent Sector, Development Economic Maritim JEL Classification: O18, R11

ECONOMIC MACRO INFLUENCE STUDY, CAPITAL, AND LIQUIDITY TO FINANCIAL PERFORMANCE AT LOCAL DEVELOPMENT BANK IN INDONESIA BEFORE AND AFTER AREA AUTONOMY

Purpose of this research is to know influence macro economic, capital, and liquidity to financial performance at local development bank (BPD) in Indonesia.This research is research explanatory, with research unit of all (population) Local Development Bank in Indonesia. Based on Indonesia Bank data there are 26 local development bank in Indonesia. Data collecting is done by using secondary data in the form of publication financial statements of local development bank of all Indonesia from the year 1996 until the year 2005 (during 10 years). Financial statements obtained from Indonesia bank head office and research bureau info bank. Research type applied is the causal relation by using census and secondary's data collecting and data analysis done through structural equation model (SEM). Result of this research indicates that : 1) macro variable of chartered investment counsel either before and also after area autonomy shows different result, before area autonomy doesn't have an effect on significant to financial performance, while after area autonomy influential significant; 2) variable capital influential significant to financial performance before area autonomy, while after area autonomy doesn't have an effect on significant; 3) variable liquidity before area autonomy influential significant to financial performance, and after area autonomy doesn't have an effect on significant.Keyword: macro economic, capital, liquidity, and financial performance.

PENGARUH KREDIT PERBANKAN TERHADAP PERTUMBUHAN INDUSTRI MANUFAKTUR DALAM MENUNJANG PERTUMBUHAN EKONOMI INDONESIA

This research works through about influence between banking credit insuranceansies with industrial growth of manufacture. Besides also studies about vesting influence of credit insuranceansi to economic growth in Indonesia. Based on research done, obtained result that level of credit insuranceansi given to manufacture industry will affect at improvement of output at company. So equally, the many vestings of credit insuranceansi compares linear with industrial improvement of manufacture. At research hereinafter, happened the relation of concurrent between industrial growths of manufacture with chartered investment counsel growth. Where when industrial growth of manufacture increased hence will cause improvement at chartered investment counsel growth. Manufacture industry is one of economic sector, which if manufacture industry increased hence its the contribution is ever greater to chartered investment counsel growth. So growth of chartered investment counsel can increase

Enableness Model of Woman Pass Processing Technology Virgin Coconut Oil to Increase Earning Of Public in District Of Tombulu Sub-Province Minahasa

Indium increasing earnings of weak chartered investment counsel public passed enableness of woman indium district Tombulu sub Provinc Minahasa has got processing technology help of Virgin Coconut Oil because the area has coconut palm potency that is big enough ace a whole haves an indium with all public life aspects. Pass the technology help is principal activity from chartered investment counsel public weakened indium powered of women which only work area indium domestic to reach hopeful future. Purpose of research is to know is processing technology of virgin coconut oil (VCO) to is able to open employment to all woman indium district Tombulu sub province Minahasa and how powered of woman indium processing of VCO to can increase public earnings. Hereinafter Population amounts to 40 respondents and sample is 36 this respondents and usage research quantitative data by using correlation analysis poroduk moment. Hereinafter from result of research ace according to hypothesis expressing that Terdapat enableness model of woman Pas processing Teknologi of Virgin Coconut Oil to increase earnings of public indium district Tombulu Sub Province Minahasa hence result of his(its there is enableness model of consumer woman Tecnology processing of Virgin Coconut Oil to increase earnings of public indium District Tombulu Sub Province Minahasa (r = 0.784) pertained the strong relationship. To determine level of contribution (determinant determinant coefficient) variable X to variable y with formula KP= r 2 x100% = 0.784x2x100% = 61.46 mean enableness model influence of processing technology consumer woman of virgin coconut oil to increase earnings of public 61.46 % and the rest 38.54% determined by other variable. To test signifikan t calculate is 5.256. And t tables of is 1.697. Simply t calculate > from table t or 5.256>1.697 hence inferential that correlation variable X and Y There is enableness of woman Pas processing Teknologi of Virgin Coconut Oil to increase earnings of public indium district Tombulu Sub-Province Minahasa. Thereby enableness model of woman processing technology of Virgin Coconut Oil to increase earnings of public indium District Tombulu Sub-Province Minahasa it is significant. Therefore enableness model of woman fit processing technology of Virgin Coconut Oil is an activity of government to strengthen power and powered group of light indium public experiencing poorness problem. Keyword: Woman enableness, Technological usage

HUBUNGAN KAUSALITAS INVESTASI DENGAN PERTUMBUHAN EKONOMI INDONESIA

This research aim to know how the relation of causality between investment, in this case governmental investment and investment of private sector with growth of Indonesia. Data applied is data time series during 36 years and is secondary data. There are some variable applied in this research, that is: growth of chartered investment counsel proxy with value GDP, investment of government proxy with disbursement of government, investment of foreign private sector (PMA) and investment of domestic private sector (PMDN). Method applied analyst to the relation of causality is with approach of model Vector Auto Regression (VAR). To test there are no of the relation of causal between variable is applied [by] causality test Granger. Result of testing of Granger indicates that there are three the relation of concurrent. Based on the result, hence chartered gross domestic product (GDP), governmental investment and investment of domestic private sector (PMDN) in significant influences investment of foreign private sector (PMA) and not happened on the contraryDOI: 10.15408/sjie.v2i1.2370

Can prospect theory be used to predict an investor’s willingness to pay?

Cumulative prospect theory (CPT) is widely considered to be the most successful descriptive theory for decision making under risk and uncertainty. Sophisticated methods have been developed to reliably elicit CPT parameters on an individual basis. The aim of this paper is to analyze whether such methods are suited to be applied in real world situations, particularly in the context of investment counseling for retail investors. Specifically, we examine whether CPT parameters elicited via standardized computer tools are successful in predicting an individual’s preference for different structured financial products. Surprisingly, we find only low predictive power of the elicited CPT parameters on the WTP. Using a second set of experiments, we examine possible explanations for the low prediction quality. Overall, we have to conclude that it is too much of a leap to draw conclusions about the attractiveness of complex financial products from CPT parameters elicited via simple lotteries.

Can Prospect Theory be Used to Predict an Investor's Willingness to Pay?

Cumulative prospect theory (CPT) is widely considered to be the most successful descriptive theory for decision making under risk and uncertainty. Sophisticated methods have been developed to reliably elicit CPT parameters on an individual basis. The aim of this paper is to analyze whether such methods are suited to be applied in real world situations, particularly in the context of investment counseling for retail investors. Specifically, we examine whether CPT parameters elicited via standardized computer tools are successful in predicting an individual’s preference for different structured financial products. Surprisingly, we find only low predictive power of the elicited CPT parameters on the WTP. Using a second set of experiments, we examine possible explanations for the low prediction quality. Overall, we have to conclude that it is too much of a leap to draw conclusions about the attractiveness of complex financial products from CPT parameters elicited via simple lotteries.

The Winners’ Game

Practitioners of the investment management profession are underperforming for their clients and for their profession because of three errors: defining their mission as “beating the market,” allowing the values of their profession to be eclipsed by the economics of the business, and not providing much-needed investment counseling. The solution is to incorporate investment counseling into the heart of their client–manager relationship.

PEDAGANG KAKI LIMA (PKL) SEBAGAI ALTERNATIF SOLUSI DALAM MENGATASI KEMISKINAN DAN PENGANGGURAN

Solution to overcome the unemployment problems can be done by the way of making someone who expert in entrepreuneur. Because an entrepreuneur hardly assists government in chartered investment counsel recovery. Because they stand in adding national production, creates job activity opportunity, assists government to lessen unemployment, assists government in development averaging, adds resource of stock-exchange for government, adds source of national income with paying tax, and assists government in enriching nation.

POTENSI SUMBERDAYA EKONOMI DAERAH: SEBUAH TINJAUAN ASPEK EKONOMI BAGI USAHA MIKRO KECIL MENENGAH

Potency effort for micro, small and medium-size enterprises in Indonesia very potential to be developed in the effort absorbtion of labour and at the same time prosperity public. The many small business emerging in when crisis to give indication that Indonesia chartered investment counsel potency still need to be developed furthermore. Its the expansion is till now unable to be pushed by innovation factor and usage of information of technology. Effort for small and medium-size enterprises in Indonesia can be developed in: First, expansion of real soul and entrepreneurs character. Needs more entrepreneurses in Indonesia borne by pushed by vision and innovation. Second, skilled expansion enlarges business; small business activity which there are having to constructed and developed. Third, direction and excellence expansion competes nation. Interaction and the relation of the existing inter-states more influenced by chartered investment counsel factor. Therefore to can become pre-eminent nation and considered, hence Indonesia must soon finds and develops excellence of its the core.Keywords: Economic Resourses, Micro Small and Medium-size Enterprises.

ANALISIS PERTUMBUHAN SEKTOR PERBANKAN DI INDONESIA TAHUN 2001-2008

Intention of this research is to know level of growth of banking credit in Indonesia and know macro variable influence that is resident amounts, earnings of perkapita and amount of money supplies to growth of banking credit. Analyzer applied to know resident growth influence, income percapita, amount of money supplies to growth of credit is doubled linear regression test with statistical test two directions that is T test and F test and test ekonometrika that is classic assumption test (multikolinierity test, heteroskedastisity test, autocorrelation test). Result of research at doubled linear regression shows growth of number of residents to growth of credit influential significant. while earnings growth of percapita doesn't have an effect on significant to growth of credit and growth of amount of money supplies influential significant to growth of credit. Based on conclusion to macro variable of chartered investment counsel can be cought up with growth of credit as according to ability of Negara to be realized secure and prosperous public.

Wilmington Trust Corp. (DE)

AbstractCommercial Banking (MIC: SIC: 6022 NAIC: 522110)Wilmington Trust is a financial holding company that is engaged as a relationship management company. Co.'s operations are comprised of three businesses: Regional Banking, which offers commercial banking services; Corporate Client Services, which serves institutional clients and provides trustee, agency, and administrative services in jurisdictions in the U.S., the Caribbean, and Europe with legal, tax, and creditor protections; and Wealth Advisory Services, which offers financial planning, investment counseling, asset management, fiduciary, trust, estate settlement, private banking, tax preparation, mutual fund, broker‐dealer, insurance, business management, and family office services.

DETERMINAN INVESTASI DI DAERAH: STUDI KASUS PROPINSI DI INDONESIA

The main purpose of this research is to test the determinant of investment locations in 26 provinces in Indonesia between 1993-2003 using dynamics method of panel. Factors affecting to investment locations in Indonesia are indicator of market size which is growth rate PDRB (X1), infrastructure indicator i.e. number of electricity capacity (X2), indicator spatial which is deensity (X3), indicator manpower that is labour force (X4) and wages/UMP (X5), and last of economic indicators that is export/ level of chartered investment counsel openness (X6). The result concludes that all variables applied in stationary research has at data level (I0), equally all variables have owned degree of the same integration. Result of testing of panel co integration with approach of parametric indicates that Group rho-Statistic to have coefficient 8432 while Group PP-Statistic has coefficient co integration of 9193. The coefficient co integration by using Group ADF-Statistic is 2540. Probability each testing method indicates that variable applied by co integrating at level of significance at 5%. From total 7 testing panel, got result that all research variable of co integrating or on a long term research variable has direction of the same movement Keywords: investments, panel dynamic, unit root panel, and cointegration panel

Determinants of Local Investment: Case Study in Provinces in Indonesia

The main purpose of this research is to test the determinants of local investment in 26 provinces in Indonesia since 1993-2003 using dynamic panel method. Factors affecting local investment in Indonesia are market size indicator which is growth rate PDRB (X1), infrastructure indicator i.e. number of electricity capacity (X2), indicator spatial which is deensity (X3), indicator manpower that is labour force (X4) and wages/UMP (X5), and last of economic indicators that is export/ level of chartered investment counsel openness (X6). The result concludes that all variables applied in stationary research has at data level (I0), equally all variables have owned degree of the same integration. Result of panel test cointegration using parametric approach indicates that Group rho-Statistic coefficient is 8432 while Group PP-Statistic coefficient co integration is 9193. The coefficient co integration by using Group ADF-Statistic is 2540. Probability of each testing method indicates that variable applied by cointegrating at level of significance at 5%. From total 7 testing panel, got result that all research variable of co integrating or on a long term research variable has direction of the same movement Keywords: investments, panel dynamic, unit root panel, and cointegration panel

The great soft dollar debate

The Securities and Exchange Commission (SEC) has defined “soft dollar” practices as arrangements under which products or services, other than execution of securities transactions, are obtained by an investment adviser from or through a broker‐dealer in exchange for the direction by the adviser of client brokerage transactions to the broker‐dealer. In the wake of the mutual fund scandals of 2003, soft dollar practices have come under increased scrutiny by the SEC, the U.S. Congress, and others. This article is based on testimony presented by the Investment Counsel Association of America (ICAA) to the U.S. Senate Committee on Banking, Housing, and Urban Affairs at a hearing on soft dollars held on March 31, 2004. The article outlines the following positions: (1) the SEC should ensure that there is adequate disclosure about soft dollar practices, combined with appropriate inspection and enforcement of regulations governing such practices; (2) the consequences of abolishing soft dollars ‐ an outcome that would require Congressional action ‐ most likely would affect smaller investment advisory firms adversely, create entry barriers for new investment advisory firms, and diminish the quality and availability of proprietary and third‐party research; (3) investment advisers should be required to keep appropriate records relating to soft dollar arrangements and to develop and implement internal controls and procedures designed to ensure that soft dollar arrangements are supervised, controlled, and monitored; and (4) eliminating the use of soft dollars for third‐party research would harm investors, diminish the availability of quality research, provide a regulatory‐driven advantage for full‐service brokerage firms, disadvantage third‐party research providers, and result in less transparency to investors, regulators, and market participants.

The Winner's Game

While lots of attention gets paid to avoiding the loser9s game of high-turnover stock-picking and market timing, all too many investors—and all too many investment professionals—spend all too little time on the winner9s game of developing and adhering to the long-term investment policies most likely to achieve the real and specific needs of each investor. Sound investment counseling, made widely available, could save most investors from unnecessary disappointment and could provide professional success and personal satisfaction to investment managers.