Consumption Sector Research Articles

The Time-Varying Impact of Oil Price Changes on the Consumer Sector: Evidence from the Russia-Ukraine Conflict

The impact of changes in oil prices has always had a more or less significant impact on various industries, often affecting the whole body, so the impact of oil price changes has been a hot topic of research. There is still a gap in the literature in terms of the statistically significant impact of oil price changes caused by the large-scale war between Russia and Ukraine, which radiates to the consumer sector. This paper collects WTI and Brent crude oil settlement prices, as well as consumption indices, from three months before the outbreak of the Russia-Ukraine conflict to the present. To achieve smoothness, a VAR model is built using the log-return series of the three data sets, and impulse response plot analysis concludes that there is indeed a significant correlation between the two crude oil prices and the consumption index. An ARMA-GARCH model was later developed to quantify the correlation and derive specific values for the volatility brought about by changes in the prices of the two crude oils on the consumer sector returns.

Influence of Corporate Firm Characteristics on Tax Avoidance in Nigeria: A Study of Consumer Sector of the Economy

This study investigated corporate firm characteristics and tax avoidance of consumer goods companies that are quoted in Nigeria. The variables of corporate firm characteristics (firm size (FSIZE), firm profitability (FPROF) and firm leverage (FLEVE)) were analysed to determine their influence on tax avoidance (TAXA). For the objective of the study to be achieved, twenty- six (26) quoted companies on the Nigeria Stock Exchange (NSE) from the consumer sector of the economy were cautiously selected and analyzed for the period (2016-2020). The study employed the panel least squares (PLS) regression by using E-view 9.0 packages for the data to be analyzed. The findings of the result showed that firm size (FSIZE), firm profitability (FPROF) and firm leverage (FLEVE) were found to be significant and having positive influence on tax avoidance (TAXA). In view of the findings, it was therefore recommended that the independent variables of firm size (FSIZE), firm profitability (FPROF) and firm leverage (FLEVE) should be given considerable attention when considering corporate firm characteristics as it relates to tax avoidance of consumer goods companies that are quoted in Nigeria.

Key factors influencing the development of the chocolate market

The modern consumer is becoming an increasingly active and selective shopper every year. According to the Deloitte consumer research center, 38% of Russian consumers prefer to visit stores even when they are not in dire need. It is important for such consumers to see new products on the shelf, study them and make a decision about buying such goods in the short term, taking into account all the information on the labeling. To a large extent, the consumer sector is influenced by global trends, which are reflected in domestic consumption due to their popularity among customers through promotion through social networks in the context of a healthy lifestyle and support from manufacturers and retailers through the production and introduction of "trendy" products into the production and assortment matrix. In this regard, confectionery products in general and chocolate, as a significant product in the volume of industry revenues at the expense of value, are becoming one of the most studied product categories by consumers. This is due to innovations within the category and the impact of the consumption of calorie products on the health and appearance of the consumer.

A System Dynamic Analysis of Urban Development Paths under Carbon Peaking and Carbon Neutrality Targets: A Case Study of Shanghai

In 2021, under the carbon peaking and carbon neutrality targets of China, Shanghai declared that it would peak carbon emissions by 2025. This would require the formulation of specific and effective implementation paths of low-carbon development. This paper conducts a dynamic study on Shanghai’s carbon dioxide emissions by establishing a system dynamic model of Shanghai’s economy-energy-carbon emission. It studies the implementation path of Shanghai’s carbon peaking and carbon neutrality targets by scenario analysis. The results show that under the Baseline Scenario, Shanghai’s carbon emissions will peak by 2035, which is later than what the government promised. However, the Carbon-Peak and Deep-Low-Carbon Scenarios suggest that Shanghai can achieve the carbon peaking target in 2025, and the CO2 emission intensity will drop by 89.2% and 92.4%, respectively, by 2060. Improving the industrial energy utilization efficiency and the proportion of clean electricity is crucial for Shanghai to reduce carbon emissions. The transportation sector will become the main sector of urban energy consumption in the late stage of carbon neutralization. Without considering carbon sinks, the costs of achieving carbon neutrality for the three scenarios are approximately 5.68 billion, 2.79 billion and 1.96 billion USD, respectively. Finally, this paper puts forward relevant suggestions on promoting the transformation of energy structure, and strengthening specific emission reduction measures of various departments, to provide references for Shanghai’s policy formulation.

WATER USE AND SUPPLY IN THE NORTHERN REGION OF BAJA CALIFORNIA, MEXICO

The demographic and economic growth in the northern region of the Mexican state of Baja California has led to increased water use and competition for this resource among diverse consumer sectors. The regional dynamism has made it increasingly difficult to meet the demand for water provision. The aim of this investigation was to allocate the water withdrawn from the Mexicali Valley and San Luis Río Colorado (SLRC) aquifers in a scenario of water scarcity among the various consumer sectors by municipality of the states of Baja California and Sonora, as well as to determine the price that would allow for a reduction in the amount of water taken from the aquifers. A spatial equilibrium model was formulated and validated, considering fixed supply and functions of demand. The 2019 results show that the total demand for water from municipalities in residential, commercial, industrial, agricultural and livestock sectors were 197.2, 21.7, 16.7, 758 and 5.7 hm3, with Tijuana standing out in the first three sectors, whereas Mexicali and SLRC were highlighted in the farming sector. Regarding the water price, the Tijuana, Tecate, and Ensenada municipalities pay a high tariff for its use, whereas Mexicali and SLRC pay the lowest tariffs. A 10 % reduction in water availability would be achieved if the price in the agricultural sector in Mexicali and SLRC increased by 20 and 22 %, respectively, over the base price. As the price rises, the demand in this sector for both municipalities would decrease by 2.6 %.

Prediksi Financial Distress Perusahaan Sektor Industri Consumer Cyclical

This study attempts to investigate five company performance variables that affect the probability of financial distress in companies in the cyclical consumer sector. Companies have demand patterns that are strongly influenced by the business cycle, and face stiff competition in their own industries, both domestically and globally. On the other hand, the current massive technological developments have disrupted many companies in the cyclical consumer industry sector. Meanwhile, conditions that make it more difficult for companies around the world in general are the arrival of the COVID-19 pandemic that has hit the world since the end of 2019 until now has not ended. This study uses a binary logistic regression analysis technique with a sample of 10 cyclical consumer industrial sector companies during 2017-2021. The research findings show that there are three variables that have a significant negative effect on financial distress, namely: (1) cash flow from operating activity, (2) cash flow from financing activity, and (3) price – earnings ratio. Thus, if these companies can improve the performance of these three variables, they will be able to reduce financial distress. However, efforts to improve these three factors have encountered obstacles due to the arrival of the COVID-19 pandemic since the end of 2019 until now, which has not been completed, and even tends to exacerbate the company's financial difficulties.

Peran komite audit pada sustainability disclosure

The purpose of the study was to analyze the effect of size, independence, frequency of meetings, and financial expertise of audit committee members on sustainability disclosure. The sample was taken using a purposive sampling method, and the sample was public goods and consumption sector companies from 2015 to 2019. The number of sample companies was 37, with some observations during 2015 – 2019 as many as 185 company years—tests using balanced panel regression using E-Views. The assessment of sustainability disclosure in the annual report uses the 2016 GRI index, which consists of universal (100), economic (GRI 200), environmental (GRI 300) and social (GRI 400) standards. The test results provide empirical evidence that the number of audit committee members has a negative effect on sustainability disclosure. The expert background of the audit committee members in the fields of accounting and finance has a positive effect on sustainability disclosure. The sustainability disclosure will be more qualified if the audit committee members have a financial background. Other independent variables, such as independence and meeting frequency, do not affect sustainability disclosure. This research implies that the amount and background of knowledge or expertise of audit committee members in the financial sector can improve the quality of sustainability disclosure.

Tinjauan Kinerja Keuangan dan Kebijakan Dividen terhadap Nilai Perusahaan

The consumer goods industry is one of the sectors that can increase the country's economic growth and can survive in any conditions so that it has the best performance opportunity than other sectors. the goods industry is able to contribute to the country by 58% even the consumption sector index has only decreased by 5.5% since the last 10 years. This study was conducted to determine the effect of financial performance in the form of profitability, leverage, liquidity and dividend policy on firm value, the theory used is signal theory. The population uses the consumer goods industrial sector for the period 2017-2021 as many as 76 companies and a sample that can be opened is 14 companies using purposive sampling technique. Analysis in this study using SPSS software, data analysis used descriptive statistics, classical assumption tests include normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. For the hypothesis use, t test, and the coefficient of determination (R2) using multiple linear regression analysis. The results of this study indicate that profitability and dividend policy have a significant positive effect on firm value, while leverage and liquidity have no significant effect on firm value.

Pengaruh kepemilikan keluarga terhadap kinerja perusahaan dengan biaya keagenan sebagai variabel moderasi

Family ownership still dominates the companies’ ownership structure in Indonesia. However, family ownership can also have a positive or negative impact on the company’s performance the previous studies related to the impact of family ownership on the company’s performance provides different results. The purpose of the study was to examine the effect of family ownership on the company’s performance with agency cost as a moderating variable. It took the sample of 13 manufacturing companies in the industrial and consumption sectors listed on the Indonesia Stock Exchange for the 2017-2020 periods. They were taken using a purposive sampling method. The data were analyzed using multiple linear regressions. The results showed that family ownership has a positive effect on the company’s performance, which means the greater the percentage of family ownership, the better the company's performance. It also showed that agency cost did not moderate the effect of family ownership on company performance. It can be implied that family ownership has a strong motivation to supervise company management to improve company performance.

Convergence Analysis of Social Sector Expenditure and its Components: Evidence from the Indian States

ABSTRACT This paper examines the convergence of public expenditure and its major components using sub-national data from India. By employing the panel club convergence test, the paper finds convergence in per capita public expenditure across Indian states implying that distribution policies of public expenditure are effective and fair across the states. Subsequently, the convergence of per capita total social sector expenditure and its major components are studied. The results support the evidence of convergence for total social sector expenditures and in the case of its components, we find that six of the nine components display regional convergence. Three components, namely, per capita education, sports, art and culture expenditure; per capita social security and welfare expenditure; and per capita rural development expenditure display the evidence of divergence and the presence of multiple transition paths. From the policy perspective, these three components of social expenditures need greater attention by the state governments as these expenditures are important for social cohesion, sustainable development, and achieving millennium development goals.

An Empirical Analysis of the Impact of Digital Economy on Manufacturing Green and Low-Carbon Transformation under the Dual-Carbon Background in China.

The deep integration of digital economy and green development has become an inevitable requirement and an important aid in achieving the goal of carbon peaking and carbon neutrality and promoting high-quality economic development. At the same time, the manufacturing industry is the main sector of energy consumption and carbon emissions in China and the main force for achieving the carbon peaking and carbon neutrality goals. This paper constructs a mathematical model to measure the scale of the digital economy development and the efficiency of the green, low-carbon transformation of the manufacturing industry. It builds a panel data model to study the effect of the development of the digital economy on the green, low-carbon transformation of the manufacturing industry based on data of 30 Chinese provinces from 2016 to 2020. The results find that (1) there is a significant positive effect of the digital economy on the green, low-carbon transformation of the manufacturing industry, with an impact coefficient of 0.477, and this finding remains significant in the robustness test. (2) A further test of the mediating effect finds that the digital economy can drive the green, low-carbon transformation of the manufacturing industry by enhancing technological innovation, and it shows a partial mediating effect that accounts for 28% of the total effect. (3) In the regional heterogeneity analysis, it is found that the effect of the digital economy in promoting manufacturing transformation is more prominent in the central region, and the impact coefficients are 0.684, 0.806, 0.340, and 0.392 for the east, central, west, and northeast regions, respectively. This study can provide a theoretical basis and policy support for governments and enterprises.

OPTIMALISASI PEMBIAYAAN MUSYARAKAH DALAM PEMBANGUNAN EKONOMI

This study aims to determine the development of musyarakah financing in Indonesia. The research method used is descriptive method with content analysis or content analysis. Broadly speaking, this writing systematic is more of a narrative nature that collects secondary data from BPS, opinions of experts, journals, books and articles published on the internet related to musyarakah financing in Indonesia. The results of the study show that musharaka financing continues to show increasing growth from year to year. As a form of financing that focuses on the productive sector, musyarakah financing needs to be further increased compared to murabahah financing which focuses on the consumptive sector.

The role of lending in the context of economic sanctions and criminal law protection of public relations in the credit sphere

The article is devoted to identifying the role of lending for the parties to loan relations and the economy as a whole in the conditions of economic sanctions and inflationary risks by analyzing the number of borrowers and the volume of overdue accounts payable in the business and consumer sectors, as well as the dynamics of lending in February and March 2022.
 The author makes the conclusion about the growth of overdue debts, a decrease in the number of consumer loans issued and focuses on the real, rather than nominal, guarantee of criminal protection of creditors’ rights, traces the dependence of the development of the monetary system and the economy of the region and the country as a whole.
 The article presents statistics on bringing persons to criminal responsibility and imposing punishments in 2021 for crimes in the credit sphere that violate the relationship between the creditor and the debtor, the conclusion is made about the actual non-demand of Articles 176, 177 of the Criminal Code of the Russian Federation and the application of Article 159.1 of the Criminal Code of the Russian Federation. An attempt has been made to identify some problems of law enforcement of legislative norms and to give a detailed analysis of objective and subjective signs of the elements of crimes: “Illegal receipt of a loan”, “Malicious evasion of repayment of accounts payable” in comparison with “Fraud in the field of lending”.
 As a result, the author makes the conclusion that the effectiveness of the criminal law prohibition and prescription does not always consist in the application of the norm, it manifests itself in achieving the goal of crime prevention.

Benefit analysis and preliminary decision-making of electrical and thermal energy storage in the regional integrated energy system

The ambitious goal of decarbonization has promoted regional integrated energy system (RIES), which enables interaction between energy consumption and supply sectors with different characteristics to improve energy application efficiency. Compared with single energy storage, multiple energy storage (MES) may have the potential to provide better flexibility and lower costs, but the necessity of applying and the preliminary decision-making principles have not been very clear to users and investors. To solve this problem, this study based on the typical RIES framework on the demand-side, firstly proposes multi-dimensional evaluation indexes from the aspects of renewable energy consumption, carbon emission reduction, load shifting and economic property; then, taking a commercial area as a case, develop the optimal operation strategy of the minimum total daily cost to analyze the operation and synergistic benefits under four scenarios; influencing factors such as energy storage capacity, load demand and region types are considered though sensitivity analysis; finally, suggestions for the preliminary decision-making of MES are given. The results show that the combination of electricity and thermal energy storage can realize the complementary advantages of single energy storage technology, making the contribution of different kinds of energy storage benefits more balanced on the basis of reducing the total cost, which significantly improves the flexibility of the energy system; the electricity-thermal energy storage has obvious advantages in the four functional areas involved herein; however, as the storage capacity increases to the saturation value, the marginal effect appears, and the corresponding total benefits tend to stabilize gradually. The preliminary decision-making of applying energy storage is carried out according to the external and internal levels, respectively according to the control requirements of energy storage investment cost, the allocation of renewable energy in the target area, as well as the regional energy consumption structure and specific needs. This principle can provide a reasonable basis for decision-makers and promote the application and development of multiple energy storage.

Pengaruh Profitabilitas, Deviden Payout Ratio, Struktur Modal Dan Cash Holding Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Sektor Konsumsi Di Bursa Efek Indonesia (BEI)

In the all-digital era, it is very easy for people to participate in transactions in the capital market. Many people judge a company based on the high / low value of a company's shares. This research has a purpose as to examine the impact of profitability, dividend payout ratio, capital structure, & cash holding on the increase/decrease in company value. In this research that we made, we agreed to use quantitative research methods, the method is to collect numerical data (quantitative) and analyzed statistically, in this case we use the SPSS application. The data we use in this research is secondary data which is obtained through the Indonesia Stock Exchange (IDX) website or www.idx.co.id. The total cooperate that we researched are 12 consumer sector manufacturing companies. The period/year of the financial statements studied is 2017-2020 (4 years) as the total data is 48 data. The results of the research show that the value of X (Profitability, Dividend Payout Ratio, Capital Structure, and Cash Holding) has a significant impact on the value of Y (Company Value). Meanwhile, simultaneously, it shows that the value of X (Profitability, Dividend Payout Ratio, Capital Structure, and Cash Holding) has an insignificant positive/negative impact on Y (Company Value).
 
 Keywords : Profitability, Dividend payout ratio, Capital structure, Cash holding

Revealing the impact of a water-economy nexus-based joint tax management policy on the environ-economic system: An advanced exploration of double dividend strategies and multi-scale response mechanisms

Economic growth is constrained by water scarcity, and a unified policy analysis framework is required to enhance the coordinated development of the environ-economic system from the perspective of wastewater management. Thus, a multi-scale water-economic double dividend mechanism model (MWED) is first developed to (i) derive strategies for simultaneously achieving water scarcity mitigation and economic increase through compounding wastewater tax (WT) policies and reduced value-added tax (RVT) policies; (ii) explore the internal response mechanisms at the sectoral scale in the central region; and (iii) reveal the responses of economic output and multiple water resources in external regions under the cascading effects. This integrated approach of a computable general equilibrium model, an ecological network analysis, and a multi-regional input-output analysis is applied to Shanxi Province, China, a representative water-scarce region. The double dividend strategies of WT_6 yuan/ton*RVT_2%, WT_8 yuan/ton*RVT_2.5%, and WT_10 yuan/ton*RVT_3% were conducive to alleviating water scarcity and stimulating economic growth by adjusting the production structures or upgrading treatment technologies to reduce wastewater discharge, reducing the use of water-intensive energy sources to condense direct water consumption, and enhancing the connection between low water consumption sectors and advantageous economic sectors to optimize the virtual water network structure. Based on complex inter-regional relationships, these cascading effects can stimulate the economic output of other provinces and alleviate prevailing water scarcities by increasing virtual water inflows in economically developed regions and decreasing direct water consumption in economically undeveloped regions. The ability of water-rich regions to reconcile differences in water resource endowments can be further strengthened.

Drinking water consumption habits during intermittent service in Sector Riberas de Sacramento, Chihuahua, Mexico

Abstract The perception of a service provided can be obtained using subjective surveys based on the population's physical, economic and social characteristics. This study focuses on the use of standardized surveys to obtain users' perception of a drinking water service, as well as measuring domestic consumption with water meters and pressure data, using specialized recorders to identify daily patterns in water use and consumption. Factors can be identified indicating drinking water use patterns among the sector's inhabitants throughout the day, week and month, and taking climatic factors into account, by analyzing consumption habits and the related measurements. An important point that is defined is the demand factor, to indicate key points in estimating existing and future demand based on an intermittent supply. The study includes a proposal for a management model based on the demand factor, with which the sector's consumption needs are solved and drinking water supply is efficient. The results obtained gave us an overview of water losses, awareness of the value of the drinking water service, and the users' interest in taking care of it.

Capital Structure, Accounting Conservatism, Agency Cost, dan Firm Value

The purpose of this research is to evaluate how capital structure, accounting conservatism, and agency cost impact firm value. The financial reports companies listed on the IDX in 2019–2021 are data utilized in this analysis. The website of the Indonesian Stock Exchange (IDX) supplied the information for this research. There are 671 companies listed in 2019, 716 in 2020, and 769 in 2021. The samples in this research are non-cylicals consumer sector companies. There are 87 companies which was fit the criteria. The study aimed to investigate whether capital structure, accounting conservatism, and agency cost had an effect on firm value. Consequently, there was no effect of the company's capital structure on firm value. This indicates that shareholders are not too focused on capital structure to assess a company. However, companies that had high agency costs followed by good management. Thus, firm value was also high because it could be taken into consideration by shareholders to oversee management actions to support a better firm value. Then, accounting conservatism which showed caution over uncertainty in maintaining the quality of reported earnings. Accounting conservatism has a negative effect on firm value, this indicates that shareholders prefer companies that do not carry out accounting conservatism so that there is no early recognition of losses and company profits remain high.

PENGARUH KINERJA KEUANGAN, KEPEMILIKAN SAHAM DAN REPUTASI AUDITOR TERHADAP INTERNET FINANCIAL REPORTING PADA PERUSAHAAN SEKTOR KONSUMSI YANG TERDAFTAR DI BEI

This study aims to obtain empirical evidence regarding research on the Effect of Financial Performance, Share Ownership and Auditor Reputation on Internet Financial Reporting (On Consumption Sector Companies Listed on the Indonesia Stock Exchange). This study aims to determine the ability of Financial Performance, Share Ownership and Auditor Reputation to influence Internet Financial Reporting. Go public companies that apply Internet Financial Reporting (IFR) on the company's website tend to use the services of a public accountant who has a high auditor reputation with the aim of providing positive value to the company so that disclosure of information or company financial statements is disclosed through Internet Financial Reporting. This study examines the relationship between the independent variable and the dependent variable, while the method of determining the sample is purposive sampling. This type of research uses a quantitative approach, which means as a research method based on the philosophy of positivism, is used to examine certain populations or samples, collect data, use research instruments, analyze quantitative or statistical data, with the aim of testing predetermined hypotheses. The results showed that; financial performance has no effect on internet financial reporting; share ownership has an effect on internet financial reporting; auditor's report has no effect on internet financial reporting; and Financial performance, share ownership, and auditor's report together have an effect on internet financial reporting.

Profitabilitas Memediasi Likuiditas dan Leverage Terhadap Kebijakan Dividen Perusahaan Manufaktur Sektor Industri Barang dan Konsumsi

The reason for this research is to know the role of profitability as an intervening variable in influencing liquidity and leverage on dividend policy. The population used is manufacturing companies in the industrial sector of goods and consumption listed on the Indonesia Stock Exchange in the period 2017 – 2020. The method used in determining the sample uses the purposive sampling method. It was obtained that 20 companies were observed for 4 years so the total observed data was 80. Using data analysis techniques, namely path analysis, outlier test, classical assumption test, hypothesis testing and , detection of mediating effect (Sobel test) with the help of tools SPSS data analysis software. The results of the study explain that liquidity and leverage have a positive and significant effect on profitability. Liquidity and Leverage have no effect on dividend policy, while profitability has a positive and significant effect on dividend policy. Profitability is able to mediate the effect of the relationship between Liquidity and Leverage on Dividend Policy through an indirect effect that is greater than the direct effect and is also evidenced by using the Sobel Test.