International Journal of Financial Engineering最新文献

{"title":"Reconstructing the Debt Restructuring Mechanism in the Indonesian Law on Bankruptcy and Suspension of Debt Payment Obligations","authors":"Krista Yitawati, A. Sulistiyono, Pujiyono Pujiyono","doi":"10.37394/232032.2023.1.8","DOIUrl":"https://doi.org/10.37394/232032.2023.1.8","url":null,"abstract":"The purpose of the Suspension of Debt Payment Obligations (SDPO) is to prevent a debtor who is in trouble for whatever reason, lacks money, or finds it difficult to obtain credit, from being declared bankrupt. The current Indonesian Bankruptcy Law lacks a debt restructuring mechanism. There need to be improvements to ensure quality, transparency of objectivity and implementation mechanisms, honesty and legal certainty. This study aims to reconstruct the debt restructuring mechanism through the SDPO in the Indonesian Bankruptcy Law to provide legal certainty and benefit for all parties. This research has an Indonesian national scope. This is normative legal research that applies the statute and comparative approaches. Results show that Law Number 37 of 2004 still does not provide a legal framework for an effective corporate reorganization or debt restructuring. This law should be a system created to prepare agreements between creditors and debtors to negotiate based on an analysis of future events. Debtors often fail to postpone their obligation to pay debts not because the debtor did not submit a reconciliation plan, but because an agreement was not reached in the reconciliation process. As Law Number 37 of 2004 does not regulate the form of debt restructuring and company reorganization (including the payment process, payment period, and interest rate reduction) to save the debtor’s company, it is still difficult for the debtor’s company to pay off its debts.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"187 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85096379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of Information Intensity and Characteristics of IT Functions on Fraud Moderated by IT Governance","authors":"Agung Budiwibowo, E. S. Astuti, Muhammad Saifi, Mohammad Iqbal","doi":"10.37394/232032.2023.1.14","DOIUrl":"https://doi.org/10.37394/232032.2023.1.14","url":null,"abstract":"This study aims to determine the relationship of each information intensity variable and the characteristics of the IT function on fraud moderated by IT governance. The method used in this study is inferential analysis, namely Structural Equation Modelling (SEM) with the WarpPLS approach to analyze sample data and the result are applied to the population eich is expected to provide information regarding the relationship between the influence of information intensity and IT function characteristics on fraud moderated by IT governance. From this study, it was found that each Information Intensity and IT Function Characteristics variable had a significant effect on fraud. In addition, it was found that IT Governance is a moderating variable that has a significant effect on the relationship between Information Intensity and IT Function Characteristics on Fraud. There is no research that investigates the influence of IT Governance as a moderating variable in the relationship between the influence of Information Intensity and IT Function Characteristics on Fraud because the theory of the influence of IT Governance in the relationship between these variables is the latest theory which is the development of previous research on the relationship between Information Intensity and IT Function Characteristics of Fraud.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"290 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80772462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Evaluation of the Provisions of the Labor Code of 2019 From the Requirements of ISO 26000:2013","authors":"Dao Mong Diep","doi":"10.37394/232032.2023.1.10","DOIUrl":"https://doi.org/10.37394/232032.2023.1.10","url":null,"abstract":"Corporate social responsibility has been widely applied in many countries, especially developed economies, since the last decades of the twentieth century. Businesses that perform well on social responsibility will be supported by the community; enhance their reputation; and ultimately, improve their business performance. The article evaluates the impact of corporate social responsibility regulations under the Labor Code 2019 on labor relations in correlation with ISO 26000:2013. Based on that, the article proposes a number of recommendations to improve the regulations on corporate social responsibility under the Labor Code 2019 to be in compliance with the requirements of ISO 26000: 2013.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"97 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78954640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cryptocurrency: Value Formation Factors and Investment Risks","authors":"O. Pakhnenko, P. Rubanov, O. Girzheva, L. Ivashko, Igor Britchenko, L. Kozachenko","doi":"10.37394/232032.2023.1.1","DOIUrl":"https://doi.org/10.37394/232032.2023.1.1","url":null,"abstract":"Scientific sources demonstrate different attitudes of researchers to cryptocurrencies because they treat them as a category of currency, virtual money, commodity, etc. Accordingly, the relation to the valuation and risk of cryptocurrency as an investment object is different. The purpose of the article is to identify cryptocurrency value formation factors and determine the risks of investing in cryptocurrency. Cryptocurrency is simultaneously considered a currency, an asset with uncertain income, and a specific product, the price of which is determined by the energy costs for mining new cryptocurrency blocks. Thus, the paper examines the risks of investing in cryptocurrency from several positions. First, the study identifies the factors of formation of the value and risk of cryptocurrency as ordinary money based on comparing cryptocurrency with traditional money. Unlike traditional money, cryptocurrency is not tied to the economic performance of a particular country; also, central banks do not control or regulate their mining. Instead, the cryptocurrency emissions depend on the computational capacity of the equipment used for their mining. As a financial asset, cryptocurrency can be a “financial bubble” because their value increasing often exceeds the cost of mining. On the other hand, given the emergence of cryptocurrency as a phenomenon of the information economy, the paper analyses the impact of specific technical features (cryptographic hashing algorithm, the complexity of creating new blocks, the technology of verification of mining operations, etc.) on the risk of investing in cryptocurrency assets.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"12 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86674882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Relationship between Transformation Leadership, Job Satisfaction and Employee Motivation in the Tourism Industry","authors":"Nguyen Quang Vinh, Luc Manh Hien, Quang Hung Do","doi":"10.37394/232032.2023.1.4","DOIUrl":"https://doi.org/10.37394/232032.2023.1.4","url":null,"abstract":"The objective of this study is to investigate the relationship between transformation leadership, job satisfaction, and employee motivation in the Vietnam tourism industry (VTI). In the study, data were collected from 207 respondents from different organizations related to the tourism industry, then partial least squares structural equation modeling (PLS-SEM) was employed for the analysis. The findings indicate that the paths between inspirational communication, personal recognition, supportive leadership, vision, and job satisfaction are highly significant. However, the intellectual stimulation does not positively affect job satisfaction. In addition, the path of job satisfaction and employee motivation is significant. This research also shows that there is only supportive leadership has a direct positive effect on employee motivation. The findings can be used as reference for tourism company managers to consult and improve their knowledge, skills, and leadership qualities.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135640351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Influence of Service Quality on Customer Loyalty Is Mediated by Customer Satisfaction in Islamic Bank","authors":"Bakti Setyadi, F. Fitriasuri, Sulaiman Helmi, Efan Elpanso, Destina Paningrum","doi":"10.37394/232032.2023.1.6","DOIUrl":"https://doi.org/10.37394/232032.2023.1.6","url":null,"abstract":"Providing quality service is one of the strategies to achieve business success in the service sector, especially in getting customer satisfaction and loyalty. This study focuses on knowing the empirical model and analyzing the effect of service quality on customer loyalty mediated by customer satisfaction. The type of research used in this research is explanatory research. The sample consisted of 150 customers from the Palembang branch of Islamic Banks selected by a simple random sampling technique. The research instrument is in the form of a questionnaire that has been tested for the level of validity and reliability using CFA analysis. This study uses a complex causality model tested with the PLS-SEM technique. The study’s results resulted in a fit structural model which showed that service quality had a significant direct effect on customer loyalty. Service quality has a substantial immediate impact on customer satisfaction. Furthermore, information obtained shows that customer satisfaction partially mediates the impact of service quality on customer loyalty.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"34 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84706644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Role of Human Resources Competence, Internal Control System, And Financial Accountability in Enhancing Organizational Performance: The Moderator Role of Human Resource Managers","authors":"A. El-khateeb, A. Almohtaseb, Jehad M. Alfarajat","doi":"10.37394/232032.2023.1.2","DOIUrl":"https://doi.org/10.37394/232032.2023.1.2","url":null,"abstract":"This study examines the role of internal control systems, human resource competencies, and financial accountability in organizational performance as viewed by human resource managers. The research was carried out in Jordanian business organizations. The sample included executives from 130 companies listed on the Amman Stock Exchange. A questionnaire was created and distributed to collect data, which was then analyzed using SPSS version 25. According to the study, financial accountability, internal control systems, and human resource competencies all contribute to the improvement and enhancement of organizational performance, and human resource managers play an important role in this. According to the study, organizations should strive to include such components at all levels to achieve effectiveness and gain a competitive advantage.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"89 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85649379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determining the Bancrupt Contingency as the Level Estimation Method of Western Ukraine Gas Distribution Enterprises’ Competence Capacity","authors":"Kostiantyn Pavlov, Olena Pavlova, Nelia Chorna, Roman Chornyi, Oksana Novosad, Anton Demchuk","doi":"10.37394/232032.2023.1.3","DOIUrl":"https://doi.org/10.37394/232032.2023.1.3","url":null,"abstract":"The purpose of this work is to deepen the methodological provisions and develop practical recommendations with the purpose of increasing the competitiveness level of gas distribution network operators. To achieve this goal by systematizing and unifying different approaches, we developed our own approach to determining the competitiveness level of gas distribution network operators. Nowadays, most approaches and methods are formed with the obligatory use of expert assessment methods, which, in its turn, predetermines relatively subjective judgments and results. The results of our research have proven the significantly increased exigency for measures to prevent possible bankruptcy of gas distribution network operators functioning in the western region of Ukraine with the practical application of both foreign and domestic approaches. In the process of conducting a comprehensive analysis of financial and economic indicators and those reflecting the results of economic activity of gas distribution network operators functioning in the western region of Ukraine, the following approaches have been used in our study with the involvement of: 1) E. Altman’s Two-Factor Model; 2) E. Altman’s Five-Factor Model (Altman, 1977; 2020); 3) R. Lis’s bankruptcy prediction model; 4) Richard Taffler’s model; 5) W. Beaver’s coefficient; 6) O. Tereshchenko’s model; 7) Matviychuk’s model. Ultimately based on the study above, the following conclusions can be drawn as a method of assessing the of gas distribution network operators’ competitiveness: the existing models for diagnosing bankruptcy of enterprises are characterized by ambiguity; as for example, if R. Lis’s model indicates a low bankruptcy level, then other models prove the opposite situation; domestic diagnostic models need to be improved, as they were developed in the early 2000s and disregard current trends in functioning of enterprises. The article examines the methodological approaches to the level of competitiveness assessment of gas distribution network operators functioning in Ukraine. In our opinion, this fully corresponds to the thematic focus of the journal.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135640352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Economic Security of the Enterprise Within the Conditions of Digital Transformation","authors":"Yuliia Samoilenko, Igor Britchenko, Iaroslava Levchenko, Peter Lošonczi, Oleksandr Bilichenko, Olena Bodnar","doi":"10.37394/232032.2023.1.5","DOIUrl":"https://doi.org/10.37394/232032.2023.1.5","url":null,"abstract":"In the context of the digital economy development, the priority component of the economic security of an enterprise is changing from material to digital, constituting an independent element of enterprise security. The relevance of the present research is driven by the need to solve the issue of modernizing the economic security of the enterprise taking into account the new risks and opportunities of digitalization. The purpose of the academic paper lies in identifying the features of preventing internal and external negative influences (threats) in order to guarantee the effective and stable functioning and dynamic social development of the enterprise in the context of digitalization. The research methods are as follows: general scientific research methods, in particular, logical analysis, theoretical substantiation, methods of induction and deduction, formalization and generalization, statistical observation. Results. It has been proposed to introduce the concept of “digital security of the enterprise” for replacing the concept of “information component of economic security” in order to bring the terminology in line with new economic realities. The implementation of the “black box” model has made it possible to identify the latest risks and threats to the economic security of an enterprise within the conditions of the digitalization that differs from the existing ones. The assessment of enterprises’ digital security of the European Union member states has revealed that the digital security level does not depend on the size of the country, however, it is influenced by the institutional environment (in particular, digital development tools in the EU) and the size of enterprises. Also, within the framework of the research, an assessment of the digital security level of enterprises in the context of digitalization has been proposed. In order to characterize enterprises by the level of digital security, a calculation procedure using the coefficient method has been proposed.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"152 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135478663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A state-dependent dual risk model","authors":"Lingjiong Zhu","doi":"10.1142/s2424786323500020","DOIUrl":"https://doi.org/10.1142/s2424786323500020","url":null,"abstract":"In a dual risk model, the premiums are considered as the costs and the claims are regarded as the profits. The surplus can be interpreted as the wealth of a venture capital, whose profits depend on research and development. In most of the existing literature of dual risk models, the profits follow the compound Poisson model and the cost is constant. In this paper, we develop a state-dependent dual risk model, in which the arrival rate of the profits and the costs depend on the current state of the wealth process. Ruin probabilities are obtained in closed-forms. Further properties and results will also be discussed.","PeriodicalId":54088,"journal":{"name":"International Journal of Financial Engineering","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135239055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}