Information Transmission among Multiple Investors: A Micro Perspective Revealed by Motifs

We build the shareholderco-holding network(SCN)based on common shareholding data from 2007 to 2017.Considering the node attributes and the link weights, we reveal the basic structure and dynamic evolution of the SCN from two aspects: motif identification and motif evolution.Research on motifidentificationshows that although closed motifs have a low proportion, they are statistically significant.Further,research on the motif evolution shows that all motif structures have a higher tendency to disappear. The motifs containing financial investment company shareholders tend to disappear, while the motifs containing general corporate shareholders tend to remain unchanged during the evolution process.In short, we have developed the local motif structure of the SCN, which helps understand how information is transmitted among multiple investors.

Faktor - Faktor yang Memengaruhi Profitabilitas pada Perusahaan Subsektor Investment Company di BEI Periode 2015 – 2019

<p><em>The aim of this study is to determine and analyse the effect of </em><em>ESOP, leverage, and the size of the company partially and simultaneously to the profitability of the Investment Company Subsector Company in IDX Period 2015-2019. The data used in this study is library studies and documentation. Sample selection in this study using nonprobability purposive sampling technique. The data analysis method used is multiple linear regression analysis. The results prove that ESOP and company size partially have no significant effect on profitabilitas, but leverage has a significant effect on profitability. Then simultaneously ESOP, Leverage, and Company Size have no effect on profitability. The results of research with Agency theory and signal theory, ESOP is expected to increase the loyalty of the company manager to the owner of the company in improving profitability, and ESOP does not affect the contribution of profitability information of a company in assessing the condition of a company, between the relationship of the manager and the owner of the company. Leverage, in the explanation of signal theory is one of the factors that influence in providing information to investors on the profitability of acompany. Size of the company is determined by the management steps to manage the company's profit as best as possible, which we know companies with large scale does not necessarily have a good company performance also in improving its profitability. This research is expected to help companies to improve the profitability of thecompany.</em></p><p><strong><em>Keywords:</em></strong><em> ESOP, leverage, company size, profitabilitas</em></p>

LQ45 Stock Portfolio Selection using Black-Litterman Model in Pandemic Time Covid-19

The world was shocked by the emergence of a virus that spread very quickly to several countries including Indonesia at the end of 2019. This virus infection is called Corona Virus Disease 2019 (Covid-19). The outbreak of Covid-19 not only threatens human lives but also disrupts various economic, financial, and business activities, especially in Indonesia. A stock portfolio is a collection of financial assets in a unit that is held or created by an investor, investment company, or financial institution. The Black-Litterman model of the stock portfolio is a portfolio model that involves the CAPM equilibrium return and investor views. The purpose of this study is to determine the stock portfolio with the Black-Litterman model using company data listed in the LQ45 stock index from January 2020 to June 2020. Four of the twenty-nine LQ45 stocks were selected as assets in the stock portfolio. The stock portfolio containing the four stocks, namely ICBP, KLBF, MNCN, and TLKM with the Black-Litterman model resulted in an expected return of 2.07% and a risk of 2.82%.

Fintech companies face investment company status challenges

Purpose To inform readers of the challenges that fintech companies can have regarding investment company status, using two recent examples. Design/methodology/approach The article provides an introduction to the subject, discusses two examples of fintech companies that had investment company status challenges, and provides concluding remarks regarding each. Findings Navigating investment company status can be challenging for fintech companies, and in some cases, as was the case with the two companies discussed in the article, it may be necessary, or at least advisable, to seek to obtain an order from the SEC. Practical implications It is important for fintech companies to evaluate their investment company status in early stages and continue to monitor their status thereafter, particularly if they are considering a public offering. Originality/value Technical guidance from experienced investment company status lawyers.

SEC updates regulatory framework for good faith determinations of fair value

Purpose To explain the new U.S. Securities and Exchange Commission (“SEC”) Rule 2a-5 (the “Fair Value Rule”) under the Investment Company Act of 1940 (the “1940 Act”), which addresses the valuation practices of registered investment companies and business development companies. Design/methodology/approach Provides an overview of the Fair Value Rule, followed by a more detailed summary of the key provisions, including relevant guidance provided by the SEC in the release adopting the Fair Value Rule. Findings The Fair Value Rule establishes a specific framework, a standard of baseline practices across funds, and a set of required functions that must be performed in order to determine in good faith the fair value of a fund’s investments for purposes of applying Section 2(a)(41) of the 1940 Act. Originality/value Practical guidance from experienced investment management lawyers.

Ransomware Attack: Rescue-checklist Cyber Security Awareness Program

Ransomware attacks have been spreading broadly in the last few years, where attackers deny users’ access to their systems and encrypt their files until they pay a ransom, usually in Bitcoin. Of course, that is the worst thing that can happen; especially for organizations having sensitive information. In this paper we proposed a cyber security awareness program intended to provide end-users with a rescue checklist in case of being attacked with a ransomware as well as preventing the attack and ways to recover from it. The program aimed at providing cyber security knowledge to 15 employees in a Sudanese trading and investment company. According to their cyber behaviour before the program, the participants showed a low level cyber security awareness that with 72% they are likely of being attacked by a ransomware from a phishing email, which is well known for spreading ransomware attacks. The results revealed that the cyber security awareness program greatly diminished the probability of being attacked by a ransomware with an average of 28%. This study can be used as a real-life ransomware attack rescue plan.

The reaction of Asian-Pacific investment company returns to U.S. equity returns

This study is relevant to investors who wish to diversify their investment portfolio by investing in U.S.-based investment companies that invest in specific Pacific Basin countries to better understand the diversification benefits of such investments. The purpose is to examine the daily returns of selected U.S.-based, country-focused (Pacific Basin) investment companies to see if those returns accurately reflect the changes of the equity indices of the corresponding Pacific Basin market on the following trading day. The method used is that the reactions of daily investment company returns compared to U.S. market daily returns are examined for Japan, South Korea, and Australia for the period 2006–2010. These return reactions are compared to the home-country returns. Next, for the period from 2011 to 2015, the examination is broadened to include U.S.-based investment companies that invest in Taiwan, Singapore, China, and Indonesia. The results show that investment company share prices on “day t” tend to overreact to changes in the S&amp;amp;P 500 on “day t”, relative to “day t+1” changes in the corresponding Pacific Basin market index – often by more than 100%. Finally, the study shows that on “day t+1” these investment company share prices exhibit a reversal. These findings indicate that the diversification benefits of investing in these Pacific Basin investment companies are reduced due to this increased volatility. S&amp;amp;P 500 returns are accompanied by significantly larger returns on the Pacific Basin investment company shares than are actually realized in the home country on the following day, suggesting that the diversification benefits are not being fully realized.