Regulatory Adjustments Research Articles

Analysis of the relation between multicriteria decision-making methods and human decision strategies

Purpose This paper aims to investigate the relation between multiple criteria decision-making (MCDM) methods and the decision strategies used by the individual in the process of choosing in a specific context. Design/methodology/approach The method involves an experiment in an automobile-selling shop with 61 individuals performing the task of choosing a used vehicle independently: with and without the use of a decision support systems (DSSs) also using the Think Aloud verbal protocol. The paper used the descriptive statistics and signals test to test hypotheses. Findings The results prove the relation between two of the four analyzed decision-making (DM) strategies: additive difference and elimination by aspect. These two strategies exhibited significant differences for the TransparentChoice and M-MACBETH systems, being similar only for Visual PROMETHEE, and this system being the one that best facilitated the choice process for consumer goods, in this case, used vehicles. Research limitations/implications This study enhances understanding of decision strategies and multicriteria methods in used vehicle selection. Identifying Visual PROMETHEE as highly effective, it suggests that design and usability features play a pivotal role. However, limitations, such as the temporal cutoff and exclusion of electric vehicles, hinder a comprehensive grasp of DM processes in contemporary vehicle choices. Nonetheless, applying these insights to future contexts broadens theoretical contributions, highlighting a key potential of this study. Practical implications The study provides valuable insights into the factors influencing consumer decisions, potentially impacting purchasing patterns and, consequently, the used vehicle market. In addition, it underscores the need to tailor the design and functionalities of DSS to better align with users’ DM approaches, aiming to maximize the effectiveness and acceptance of these systems. Social implications The social contribution of this research lies in its ability to raise awareness among consumers about effective DM strategies, particularly those related to DSSs. This can be achieved through educational initiatives that inform consumers about the benefits of these systems when facing complex decisions, such as purchasing used vehicles. Furthermore, the study’s results have the potential to influence public policies in the automotive industry by allowing regulatory adjustments that promote practices aligned with consumer preferences and needs. This consumer-centric approach may lead to policies more tailored to market dynamics, fostering competitiveness and consumer satisfaction. Originality/value The innovative approach tested three types of DSS in an experiment, exploring their relationship with decision strategies in the specific context of used vehicle selection. This unique methodology contributes to the understanding of DM dynamics, particularly in the automotive scenario, providing a valuable perspective for literature and relevant professionals.

Towards Ending AIDS: The Additional Role of HIV Self-Testing in Thailand.

In 2022, 10% of an estimated 560,000 people living with HIV in Thailand were unaware of their HIV status. A well-established HIV program is a solid platform for integrating HIV self-testing (HST) as part of efforts to end AIDS. We analyzed how HST was integrated into the national HIV program and became a benefit package. In 2015, the National AIDS Prevention and Alleviation Committee included HST as a strategy to end HIV/AIDS by 2030. This led to collaboration between the Department of Disease Control (DDC), Food and Drug Administration (FDA), and partner networks, including civil society organizations, to amend policy regulations, allowing HIV testing outside health care facilities and facilitating HST registration. By 2024, 4 HST commercial products were registered by the Thai FDA. In 2020, the DDC launched pilot programs distributing HST kits through private pharmacies in Bangkok and online platforms. Preliminary findings showed feasibility in reaching key populations and adolescents. In 2023, HST was included in the Universal Health Coverage benefit package, providing free access to all citizens. Guidelines, e-learning, public awareness campaigns, and a reimbursement system of HST were developed and implemented. By September 2024, over 166,000 users had received HST kits. Leadership, scientific evidence, feasibility testing through pilots, regulatory adjustments, licensing, price negotiations by the National Health Security Office, and stakeholder and community engagement were key to the program's success. A nationwide distribution network through public and private health care facilities, including pharmacies, was a key enabling factor for HST delivery. HST is an additional intervention to increase awareness of HIV status and a key component in Thailand's effort to end HIV/AIDS.

Analisis Hukum Kendaraan Bermotor Pasca Penerapan Pasal 74 Undang-Undang Nomor 22 Tahun 2009

Article 74 of Law Number 22 of 2009 concerning Road Traffic and Transportation has underpinned the police's efforts in regulating the elimination of motor vehicles that do not meet operational standards. However, the implementation of this article often creates a legal dilemma for vehicle owners whose vehicles have been administratively abolished but still have a valid BPKB. This article explores the paradox between the legal and operational status of the vehicle, highlighting the discrepancy between the legality documents and the operational feasibility of the vehicle. Using Sudikno Mertokusumo's theory of legal certainty and Jeremy Bentham's theory of utilitarianism, this analysis seeks to provide recommendations for regulatory adjustments to address these disparities, ensure social justice, and improve compliance with safety and environmental standards. As a result, the application of Article 74 of Law Number 22 of 2009 concerning Traffic and Road Transportation to motor vehicles with BPKB which is declared "fraudulent" creates a legal dilemma for vehicle owners. Although the vehicle administratively has valid documents, it no longer meets operational standards, which reduces economic value and poses legal challenges for the owner

Directional and Strain-Specific Interaction Between Lactobacillus plantarum and Staphylococcus aureus.

The interaction between Lactobacillus plantarum and Staphylococcus aureus strains FRI-1169 and MN8, two original isolated strains from menstrual toxic shock syndrome (mTSS) cases, is a key focus for developing non-antibiotic strategies to control S. aureus-related infections. While the antagonistic effects of Lactobacilli species on S. aureus through mechanisms like organic acid and bacteriocin production are known, the molecular dynamics of these interactions remain underexplored. This study employs a proteomic approach to analyze the interactions between L. plantarum WCFS1 and S. aureus strains, FRI-1169 and MN8, during co-culture. We profiled differentially expressed proteins (DEPs) found in the spent media and cytosols of both bacteria, revealing distinct directional and strain-specific responses. The findings demonstrate that L. plantarum exerts a more pronounced effect on S. aureus, with more DEPs and upregulated proteins, while S. aureus showed fewer DEPs and more downregulated proteins. These strain-specific interactions highlight the complex metabolic and regulatory adjustments between these bacterial species. This research provides valuable insights into the molecular mechanisms of Lactobacillus-S. aureus antagonism and underscores the potential of proteomic analysis as a powerful tool for studying bacterial dynamics in co-culture systems.

ARTIFICIAL INTELLIGENCE TO OPTIMIZE THE ROLE OF NOTARIES IN RESOLVING LAND INHERITANCE DISTRIBUTION BASED ON CUSTOMARY LAW

The distribution of land inheritance often poses challenges, particularly within the context of customary law that varies by region. The role of notaries, recognized legally to draft authentic deeds in accordance with Article 16, Paragraph (1), letters a and b of Law No. 2 of 2014 on Amendments to Law No. 30 of 2004 on Notary Positions, is crucial in providing legal certainty and preventing disputes among heirs. In this era of technological advancement, artificial intelligence (AI) can assist notaries in expediting and simplifying the resolution of land inheritance issues more efficiently while adhering to applicable customary law provisions. The purpose of this research is to analyse the role of notaries in the resolution of land inheritance distribution under customary law and to explore the potential utilization of artificial intelligence in assisting this process. The research method used is normative juridical, using a statutory approach and an analytical approach. The research shows that artificial intelligence (AI) can assist notaries in document verification, heir identification, and the application of complex customary law. AI accelerates the process and reduces the potential for disputes, but it requires regulatory adjustments and increased technological literacy among notaries and the public. Artificial intelligence (AI) has significant potential to optimize the role of notaries in resolving land inheritance under customary law by accelerating processes, improving accuracy, and ensuring fairness. However, the successful implementation of AI requires clear regulations and collaboration between the government, legal institutions, and customary communities.

STATE REGULATION OF REINSURANCE ACTIVITIES IN UKRAINE DURING THE WAR

This paper examines the evolution of state regulation of reinsurance activities in Ukraine in the period 2022-2024, with a particular focus on the impact of the ongoing conflict with Russia. This paper examines the manner in which the regulatory framework has been adapted to the distinctive challenges posed by the war in order to stabilise the insurance market and ensure effective risk management. The objective of this study is to analyse the regulatory measures and their implications for the insurance and reinsurance sectors, with a particular focus on the changes implemented, their practical results and the broader implications for market stability. The primary objective of this paper is to undertake a comprehensive analysis and evaluation of the alterations in state-level regulation of reinsurance in Ukraine between the years 2022 and 2024. The objective is to identify the regulatory changes implemented to address the distinctive challenges posed by wartime conditions, evaluate their impact on the reinsurance industry, and discuss the broader economic implications. The study aims to provide a comprehensive understanding of the manner in which the regulatory framework has been adjusted in order to maintain industry stability and ensure effective risk management in an unstable environment. Methodology. This study employs a qualitative research methodology, utilising a combination of document analysis and expert interviews. The data was gathered from regulatory reports, policy documents, and statements issued by the National Bank of Ukraine and other pertinent authorities. The analysis is centred on a detailed examination of the key regulatory adjustments, the market responses to these changes, and the practical implications of these modifications. Results. The analysis revealed several significant changes in the reinsurance regulation in Ukraine during the reporting period: 1) strengthening of regulatory supervision; 2) revision of coverage requirements; 3) state and international financial support measures and co-operation with international reinsurers to stabilise the market and manage increased risks. The regulatory changes have had several practical implications for the reinsurance sector: increased financial stability through stronger solvency and capital requirements has improved the financial strength of insurers and reinsurers, helping them to manage the increased risks associated with the conflict. Value / Originality. This paper presents a comprehensive analysis of the regulatory adaptations in Ukraine's reinsurance sector during a period of significant political and economic upheaval. The paper offers valuable insights into the effective adjustment of state regulation in response to extraordinary circumstances, thereby contributing to the broader understanding of risk management in conflict-affected regions. The study is of particular relevance in the context of the prevailing geopolitical circumstances and the necessity to comprehend the manner in which extreme circumstances affect financial regulations. The study addresses a gap in the existing literature on crisis management in the financial sector, with a particular focus on the context of war. The originality of this study lies in its focus on the intersection of war and regulatory adaptation, a topic that has been largely overlooked in the existing literature. By analysing the regulatory responses and their outcomes, the paper makes a contribution to the development of strategies for effective crisis management in the financial and insurance sectors.

Legal Review of Ship Certification After the Issuance of Law Number 11 of 2020 Concerning Job Creation

This research examines the shift in authority and processes related to the certification of fishing vessels in Indonesia after the enactment of Law No. 11 of 2020 on Job Creation. The primary objective of this study is to analyze the legal force and implications of the transfer of authority from the Ministry of Transportation to the Ministry of Marine Affairs and Fisheries (KKP) in issuing fish vessel certifications. Using a normative juridical approach, this study investigates the procedural changes, challenges, and impacts of the new regulatory framework on fishing vessel safety and compliance. The findings show that the Job Creation Law simplifies licensing procedures while ensuring the safety and seaworthiness of fishing vessels. However, the study also highlights the challenges posed by a shortage of qualified inspectors, leading to delays in the certification process. This research underscores the need for regulatory adjustments and additional inspector training to align the maritime sector with the law’s goal of promoting safety and business efficiency.

Analysis of Legal Protection of Investors in Capital Markets: Perspective of Law No. 8 of 1995, Law No. 21 of 2011, and Law No. 11 Year 2020

Legal protection is a key element in strengthening aspects of law enforcement in a country, including in the economic and legal fields. This protection involves the interests of investors, for which investment law in a country must include regulations to protect investors and their invested capital. This research examines the legal protection of investors in the Indonesian capital market with reference to Law No. 8 of 1995 concerning the Capital Market, Law No. 21 of 2011 concerning the Financial Services Authority (OJK), and Law No. 11 of 2020 concerning Job Creation. The research method used is normative juridical with a statute approach and conceptual approach. The problem formulations in this study are: (1) How is the effectiveness of legal protection for investors based on the provisions of Law No. 8 of 1995 and Law No. 21 of 2011? (2) What significant changes does Law No. 11 of 2020 bring to the investor protection mechanism and its impact? This study found that Law No. 8 of 1995 and Law No. 21 of 2011 have provided a comprehensive legal framework for investor protection, but Law No. 11 of 2020 brought a number of changes that affect capital market regulation and investor protection. These changes, including regulatory adjustments and strengthened supervision, are expected to improve investor protection. This research emphasizes the importance of consistent implementation and effective law enforcement to achieve the goal of optimal legal protection.

Global dynamics of the IPO market: structural analysis and growth prospects

The global IPO (Initial Public Offering) market continues to play a critical role in raising capital for companies across various economic sectors. However, its dynamics remain ambiguous due to cyclical fluctuations driven by economic, financial, and regulatory factors. The relevance of this topic lies in the increasing importance of understanding the forces shaping IPO success, given the globalization of financial markets and growing competition. A thorough examination of the factors that determine IPO performance and the future prospects of this mechanism is vital for stakeholders.The purpose of this paper is to conduct a comprehensive structural analysis of the global IPO market's dynamics, identify the key drivers of its development, explore regional differences, and assess the market’s growth potential amid ongoing global transformations. The focus of the study is the global IPO market, with particular attention to its economic, financial, and regulatory dimensions.The methodological approach centers on structural market analysis, utilizing statistical and comparative methods to explore market dynamics across different regions. The research is further grounded in an analysis of macroeconomic indicators, regulatory changes, investment trends, and technological advancements that influence the IPO market.This study examines the impact of financial market globalization, regulatory adjustments, and technological innovations on the development of IPOs in various regions worldwide. The role of macroeconomic stability, interest rates, and market volatility in shaping IPO demand is also explored. In addition, the research delves into sectoral differences and regional trends, particularly the activity of IPO markets in the U.S., Europe, and Asia.The conclusion addresses the growth prospects of the global IPO market amid continuous shifts in the global economy and provides practical recommendations for companies considering public offerings and investors interested in IPO market opportunities. The study highlights how firms can navigate these volatile conditions and what investors should consider when participating in IPOs.

MUI'S STRATEGIC ROLE IN ISLAMIC BANKING: An Overview

Abstract This study explores the strategic role of the Indonesia Ulema Council (MUI) in the development and supervision of Islamic banking in Indonesia, with a focus on the contribution of the National Sharia Council (DSN MUI). MUI functions as a guardian of sharia principles, provides fatwas, conducts supervision, and plays a role in the development of sharia banking products. This study identifies challenges such as legal ambiguity and dualism of authority between the MUI, the Financial Services Authority (OJK), and Bank Indonesia (BI), as well as assessing the effectiveness of the MUI in carrying out its role. The findings show that although MUI contributes significantly to maintaining sharia compliance, these challenges affect its effectiveness. Using a qualitative approach, this review provides practical recommendations including regulatory adjustments to reduce legal ambiguity, increased coordination between MUI, OJK, and BI, improvement of supervision and accreditation mechanisms, and expansion of education and socialization regarding Islamic banking. With the implementation of this recommendation, it is hoped that MUI can strengthen its role in supporting sustainable and harmonious growth of Islamic banking. Abstract This study explores the strategic role of the Indonesia Ulema Council (MUI) in the development and supervision of Islamic banking in Indonesia, with a focus on the contribution of the National Sharia Council (DSN MUI). MUI functions as a guardian of sharia principles, provides fatwas, conducts supervision, and plays a role in the development of sharia banking products. This study identifies challenges such as legal ambiguity and dualism of authority between the MUI, the Financial Services Authority (OJK), and Bank Indonesia (BI), as well as assessing the effectiveness of the MUI in carrying out its role. The findings show that although MUI contributes significantly to maintaining sharia compliance, these challenges affect its effectiveness. Using a qualitative approach, this review provides practical recommendations including regulatory adjustments to reduce legal ambiguity, increased coordination between MUI, OJK, and BI, improvement of supervision and accreditation mechanisms, and expansion of education and socialization regarding Islamic banking. With the implementation of this recommendation, it is hoped that MUI can strengthen its role in supporting sustainable and harmonious growth of Islamic banking.

Evolution recovers the fitness of Acinetobacter baylyi strains with large deletions through mutations in deletion-specific targets and global post-transcriptional regulators.

Organelles and endosymbionts have naturally evolved dramatically reduced genome sizes compared to their free-living ancestors. Synthetic biologists have purposefully engineered streamlined microbial genomes to create more efficient cellular chassis and define the minimal components of cellular life. During natural or engineered genome streamlining, deletion of many non-essential genes in combination often reduces bacterial fitness for idiosyncratic or unknown reasons. We investigated how and to what extent laboratory evolution could overcome these defects in six variants of the transposon-free Acinetobacter baylyi strain ADP1-ISx that each had a deletion of a different 22- to 42-kilobase region and two strains with larger deletions of 70 and 293 kilobases. We evolved replicate populations of ADP1-ISx and each deletion strain for ~300 generations in a chemically defined minimal medium or a complex medium and sequenced the genomes of endpoint clonal isolates. Fitness increased in all cases that were examined except for two ancestors that each failed to improve in one of the two environments. Mutations affecting nine protein-coding genes and two small RNAs were significantly associated with one of the two environments or with certain deletion ancestors. The global post-transcriptional regulators rnd (ribonuclease D), csrA (RNA-binding carbon storage regulator), and hfq (RNA-binding protein and chaperone) were frequently mutated across all strains, though the incidence and effects of these mutations on gene function and bacterial fitness varied with the ancestral deletion and evolution environment. Mutations in this regulatory network likely compensate for how an earlier deletion of a transposon in the ADP1-ISx ancestor of all the deletion strains restored csrA function. More generally, our results demonstrate that fitness lost during genome streamlining can usually be regained rapidly through laboratory evolution and that recovery tends to occur through a combination of deletion-specific compensation and global regulatory adjustments.

A Study on the Influence of Business Environment on Small Industries in Uttar Pradesh

Particularly in regions with diverse economic landscapes such as Uttar Pradesh, the business environment stands as a crucial determinant for the sustainability and success of small enterprises. The objective of this research is to investigate the impact of the legal framework, economic conditions, and socio-cultural factors on shaping the business environment in Uttar Pradesh, with a specific focus on small businesses. A comprehensive understanding of the intricate dynamics within Uttar Pradesh's small industry sector and the broader business climate is essential for policymakers, business owners, and stakeholders. This knowledge can empower them to implement targeted interventions and initiatives, fostering a conducive environment for small businesses in the area. The study delves into the role of the business environment in contributing to Uttar Pradesh's $5 trillion share in India's GDP. Various aspects, including political stability, market dynamics, global integration, human capital, infrastructure development, regulatory adjustments, and environmental sustainability, are examined to elucidate their significance in cultivating a favourable business climate.

Application of tàawun (mutual assistance) in cross-subsidisation of surplus among different takaful operators: an exploratory study in Malaysia

Purpose This study aims to investigate the possibility of practicing cross-subsidisation of underwriting surplus among different takaful operators. It responds to the recent discussion paper published by Bank Negara Malaysia (BNM) on broader application of tàawun (mutual assistance), which seeks insights into cross-tàawun of underwriting surplus within takaful industry. Design/methodology/approach A qualitative, semi-structured interview is used to gather primary data, featuring 13 one-to-one interviews with selected Sharìah and operational experts in takaful. Open-ended questions are drafted according to BNM’s discussion paper to guide the interview. A content analysis method is used to delve into the topic based on scholarly papers, books and regulatory guidelines. A thematic analysis is applied to explore the qualitative data. Findings This study establishes the feasibility of cross-subsidisation of underwriting surplus in takaful. Given that participants are the rightful owners of the underwriting surplus, cross-tàawun is deemed permissible with participants’ consent. With the view that underwriting surplus belongs to the fund due to outright transfer of contributions by participants, the regulators have discretion to permit cross-tàawun. The authorities can make any decision if it serves the public interest. Furthermore, the study provides Sharìah and regulatory requirements to govern the practice of cross-tàawun in takaful. Respondents of the study advocate for policy reviews and regulatory adjustments to facilitate cross-subsidisation of takaful surplus. Practical implications This study significantly contributes to the existing body of knowledge in Islamic insurance studies. It offers valuable insights for the regulators to formulate the required policies and guides takaful operators to develop products accordingly. Moreover, the study supports Sharìah scholars in making informed decisions about cross-tàawun practices. Originality/value This study fills a critical gap in the existing literature by being the first to examine cross-subsidisation of underwriting surplus in takaful. The proposed cross-subsidisation of underwriting surplus will enhance sustainability of takaful funds and contribute to stability of takaful industry. As a foundation, this study encourages future research to explore other relevant aspects of cross-subsidisation of underwriting surplus in takaful operation.

Global resurgence: private asset reconstruction companies as legal catalysts for financial stability in India and beyond

Purpose This study aims to transcend geographical boundaries and provide insights into innovative strategies used by Indian Asset Reconstruction Companies (ARCs) in managing distressed assets. The study examines the origins, evolution, challenges and opportunities faced by ARCs to derive lessons that can be universally applicable and serve as a valuable blueprint for global investors and institutions seeking effective strategies in managing distressed assets. From a legal and compliance angle, this opens up many perspectives that would help plug loopholes and grey zones within the legal ambit for organisations and institutions. Design/methodology/approach The study invokes a critical review of existing literature, news, discussions and publicly available information from reliable sources such as the central bank’s websites to develop the viewpoints and provide recommendations. Findings ARCs face challenges, recovering only 19.15% of distressed assets in 2022. Despite constraints like funding, governance issues and regulatory hurdles, there is a substantial opportunity for investors in the Rs. 9.6 lakh crore non-performing assets. The study suggests strategic assessments by banks, emphasises ARCs’ roles in specific sectors and calls for regulatory adjustments. With diverse investors and favourable regulations, this evolving landscape offers significant global opportunities for policymakers and investors in distressed assets. Practical implications This study serves as a valuable guide for shaping resilient policies, fostering cross-border collaborations and optimising distressed asset management strategies on a global scale. Originality/value This study breaks new ground by examining the private ARCs sector within an emerging economy’s dynamics, presenting insights relevant to global distressed markets. This study serves as a unique resource for those navigating the complexities of distressed markets globally, providing insights that can inform strategies, policies and academic discussions in the broader financial landscape.

Post-pandemic: Innovations in Remote Education and Adjustments in Public Policy

The COVID-19 pandemic catalyzed a significant shift towards remote education, necessitating rapid innovations in educational technologies and methodologies, alongside substantial adjustments in public policy. This article explores the evolution of remote education during the post-pandemic period, highlighting technological advances, pedagogical changes, and increased efforts to improve accessibility. It also examines the corresponding shifts in public policy aimed at supporting these developments, including reforms in funding, data security, and regulatory adjustments. By analyzing challenges such as the digital divide, engagement issues, and policy alignment, the article provides insight into both successful implementations and areas requiring further improvement. Case studies illustrate how different regions have navigated these changes, offering lessons that can inform future strategies. The conclusion discusses the ongoing impact of these innovations and the crucial role of policy in shaping the future landscape of education.

FROM POLITICAL LEADERSHIP TO THE CRIMINALIZATION OF THE STRIKE ON THE STATE RAILWAYS. DECREE 1,157 GENERAL LAW OF RAILWAYS (1889-1931)

The Chilean State Railway Company implemented regulations aligned with the liberal world's political circumstances. Key laws included the State Railway Police Law (1863) and State Railway Administration Law (1868), amended multiple times. These regulations aimed at effective management, prioritizing good service, probity, and efficiency. Labor protests from the late 19th to early 20th centuries prompted regulatory adjustments.

EU legislators approve the electricity market reform

The European electricity market is on the brink of transformative regulatory changes designed to reshape its landscape fundamentally. These changes encompass measures aimed at ensuring market stability, enhancing efficiency, promoting investment in clean energy, and safeguarding stakeholders from energy crises. Central to these reforms is the promotion of Power Purchase Agreements (PPAs) and Contracts for Difference (CFDs) to stabilize markets. Considering that existing barriers are impeding PPAs widespread adoption, the new design of the electricity market prompts regulatory adjustments to streamline access while maintaining fair competition. Concurrently, the design of CFDs must navigate competition distortions and ensure long-term viability, posing challenges for the European Commission in aligning them with State aid rules. Efforts to boost market efficiency include the reduction of intraday gate closure times, effective January 2026, and the establishment of minimum bid sizes to optimize resource allocation and pricing mechanisms. Moreover, the regulatory framework prioritizes incentivizing investments in clean energy, underscoring Europe’s commitment to sustainability. Member states will wield the power to implement non-fossil flexibility support schemes, offering payments for available non-fossil flexibility capacity, thereby fostering the transition towards cleaner energy sources. Lastly, protective measures are being instituted to shield consumers and undertakings from energy crises, emphasizing the need for resilience and stability in the sector. As these reforms unfold, policymakers must delicately balance fostering innovation, ensuring competitiveness, and safeguarding stakeholders’ interests. This article delves into the complexities of these reforms, offering insights into their implications and challenges.

Management of Auxiliary Personnel at the Education, Youth, and Sports Office of the Special Region of Yogyakarta

This study analyzes the Management of auxiliary Personnel within the Department of Education, Youth, and Sports (Disdikpora) of the Special Region of Yogyakarta (DIY). Employing a qualitative approach through a case study method, data were gathered via interviews, observations, and documentation. Research informants comprised structural and functional officials within Disdikpora DIY and auxiliary Personnel from various operational units. Findings indicate that the Management of auxiliary Personnel within the Disdikpora DIY has been effectively established, encompassing planning, organization, implementation, and supervision/evaluation. Supporting factors include the involvement of various stakeholders, legal frameworks, official decrees, supportive leadership policies, opportunities for external collaborations, and cooperation between civil servants (PNS) and auxiliary Personnel. Despite encountering several challenges, measures have been taken to address them. Improvement needs to encompass regulatory adjustments, including gubernatorial regulations within DIY, welfare considerations, diploma adjustments, position qualifications, and job descriptions of auxiliary Personnel.

USES AND ABUSES OF PESTICIDES IN BANGLADESH

Bangladesh, spanning 148,460 km² with a 580 km coastline, confronts significant climate change challenges, experiencing rising temperatures and declining rainfall. With a population exceeding 170 million, its density could surpass 1200 people per km² by 2025, despite ranking 94th in land area and 8th in global population. Bangladesh ranks 3rd in rice and vegetable production and 10th in tropical fruits production: The country’s pesticide use ranks 29th globally, with substantial variations per hectare compared to leading countries like China and Japan. Pesticides play a vital role in Bangladeshi agriculture to combat pests and diseases. Fluctuations in registered formulations from 2010 to 2022 indicate regulatory adjustments and market shifts, with biopesticide registrations witnessing growth. The pesticide industry has flourished, with the number of companies expected to reach 802 by 2024, reflecting increasing demand and regulatory approvals. However, pesticide consumption has shown fluctuation, with increases in both usage and market value. The heavy treatment of vegetables like brinjal highlights the necessity for targeted pest management strategies. Despite the benefits of pesticides in enhancing yields, their misuse poses significant health and environmental risks, necessitating sustainable pest management practices to ensure long-term agricultural and environmental sustainability in Bangladesh.

How Sensitive Are Bank Market Values to Regulatory Adjustments of Capital?

Synopsis The research problem We measured the sensitivity of bank market values to capital and regulatory adjustments (RAs) applied to bank capital using a novel approach of measuring value relevance. Motivation or theoretical reasoning Regulators require banks to apply adjustments to book equity to calculate regulatory capital, where book equity is the starting point of the calculation of capital ratios. The regulators emphasize the benefits of these adjustments. Making banks hold more capital, the adjustments should contribute to the reduction of procyclical amplification of financial shocks throughout the banking system, financial markets, and the broader economy. However, RAs are underresearched: empirical research focuses on a few of them, such as the prudential filter on AFS securities, and their effects in specific circumstances. This prompts questions about the overall relevance of RAs. This paper then examines the sensitivity, expressed in elasticities, of market values to capital and RAs. Are adjustments, on their own or in aggregate, value relevant? Are market values more or less sensitive to different measures of bank capital, such as book equity, Tier 1, or total capital? Does the sensitivity evolve over time? And if so, why? The test hypotheses H1: The elasticity of bank book equity with respect to market value is 1. H2: The elasticities of RAs with respect to market values are 0. Target population US bank holding companies over the years 2001Q1–2022Q3. Adopted methodology We used panel data analyses to estimate log–log models. These models transform all variables such as market values and accounting values into logs. Analyses We used log–log models as an alternative to traditional additive-linear models because the coefficients of the latter are sensitive to sample choice, choice of time period, and outlier treatment. The response coefficients in log–log models are scale-free elasticities that measure, with some precision, the proportional change in the dependent variable associated with a proportional change in the independent variables. Findings Our results show that the sensitivity of bank book equity converges to 1 when market uncertainty is low and when banks’ Tier 1 ratios reach 12% of risk-weighted assets (RWAs). Market values are more sensitive to changes in capital of highly geared banks when market uncertainty is high, with shareholders responding positively in particular to increases in Tier 1 and total capital. This is consistent with risk-shifting by shareholders. Market values are generally less sensitive to prudential filters, such as those on unrealized gains and losses on AFS securities.