Does Overseas Investment Raise Corporate Environmental Protection? Evidence from Chinese A-List Companies

This paper uses the relevant data of China’s listed companies from 2010 to 2018 to test the impact of overseas investment on corporate environmental protection and further examines whether the heterogeneity of the company and the heterogeneity of the host country changes this effect. The research results show that the environmental protection of overseas investment companies is significantly higher than that of other companies. The impact of overseas investment on corporate environmental protection is dynamic, and it only helps improve corporate environmental protection after three years of investment. This article is conducive to causally identifying the logical relationship between overseas investment and corporate environmental protection. The policy significance is that the government can rationally guide companies to invest abroad, and oversea investment will help enhance corporate environmental protection.

Perlindungan Hukum Terhadap Tenaga Kerja Lokal dalam Undang-undang Nomor 11 Tahun 2020 tentang Omnibus Law Cipta Kerja

Regulatory problems and the disharmony of laws and regulations in labor law in Indonesia have forced the government to reform the rules through the omnibus law which aims to reduce the unemployment rate in Indonesia. The concept of a state of law (rechtsstaat) adopted by the Indonesian state includes the protection of human rights as well as legal certainty and is based on the law. Economic development is very important for improving people's welfare. The purpose of this study is to analyze the regulation of the omnibus law of work copyright for local workers in foreign investment companies in Indonesia and the form of legal protection of the omnibus law of work copyright for workers. The type of research used is the type of normative law research with a statutory approach and a conceptual approach. The legal materials used are primary, secondary, and tertiary. The technique of collecting legal materials by analyzing and citing applicable laws and regulations from books, literature, and other sources. The results of the study reveal that the omnibus law concept is one of the breakthroughs to reorganize current regulations. To minimize the occurrence of disharmony and overlapping of existing laws and regulations, the omnibus law is a good plan for structuring regulations. The Indonesian people must formulate new policies that are able to make Indonesia compete with countries in the world to attract investment. These policies must be able to restore the wheels of the slumped Indonesian economy. Regulatory reform is expected to help ensure that laws and regulations in all areas of activity are fully responsive to changing economic, social and technological conditions that surround them.

UKURAN PERUSAHAAN MEMODERASI DETERMINAN AUDIT DELAY

The time span between the issuance date of the audit report and the closing date of the financial year is called the audit delay. This study aims to examine the effect of good corporate governance represented by the board of commissioners and audit committee, leverage, auditor switching, profitability, on audit delay with company size as a moderating variable. This research was conducted at trade service and investment companies listed on the Indonesia Stock Exchange in 2015-2019. The number of samples was selected by purposive sampling method is 268 samples from 56 companies for five years. The type of data used is secondary data in the form of financial statements of trade service and investment companies. The data analysis technique used is Moderated Regression Analysis. The results showed that the board of commissioners and audit committee, leverage, profitability have an effect on audit delay, while auditor switching has no effect on audit delay. Company size moderates the effect of leverage and profitability on audit delay, but company size is unable to moderate the effect of auditor switching on audit delay. Keywords: good corporate governance, board of commissioners, audit committee, leverage, auditor switching, profitability, company size, audit delay

US SEC examination priorities for 2021: what you need to know

Purpose To summarize the U.S. Securities and Exchange Commission Division of Examinations’s recently published 2021 examination priorities. Design/methodology/approach Features short summaries of select aspects of the SEC Division of Examinations’ recently published 2021 examination priorities. Findings The SEC’s priorities for 2021 examinations include retail investor protection; information security; operational resiliency; financial technology and innovation, including digital assets; anti-money laundering; LIBOR transition, and selected areas for registered investment advisers. Practical implications Firms should consider the SEC examination priorities as they conduct their annual reviews of policies, procedures and business activities. Where firms observe deficiencies in their own practices, adjustments should be made before they find themselves the subject of an SEC investigation, examination or enforcement action. Originality/value Practical guidance for investment advisers, investment companies, municipal advisors, and broker-dealers from experienced broker-dealer, securities and investment management lawyer.

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.

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&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&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.

Legalitas Perusahaan Penanaman Modal Asing Untuk Mendatangkan Tenaga Kerja Asing ke Indonesia di Tengah Pandemi Covid-19

Novel Coronavirus (Covid-19) is a contagious virus which attacks the respiratory system and has swept the entire world, including Indonesia. This virus has a very high transmission rate and affects various sectors in Indonesia, such as the economic sector. The Indonesian government always strives to maintain a positive investment climate for foreign investors. With the spread of the Covid-19 virus, countries around the world have closed access to their countries. This includes Indonesia. PT. PMA Virtue Dragon Nickel Industri (VDNI), a foreign investment company in Indonesia which holds a permit from the Ministry of Manpower (KEMENAKER) to bring in foreign workers in the context of building a smelter amidst the Covid-19 pandemic. This caused a polemic in Indonesia because despite various labor problems, the Indonesian Government gave permission to bring foreign workers to Indonesia during the Covid-19 pandemic. Therefore, this paper is a juridical analysis will be carried out regarding the legality of foreign investment companies bringing in foreign workers in the middle of the Covid-19 pandemic. Keywords: Foreign Worker; Covid -19; Legality.AbstrakNovel Coronavirus (Covid-19) adalah sebuah virus menular yang menyerang sistem pernafasan yang melanda seluruh dunia tidak terkecuali di Indonesia. Dengan tingkat penularan yang sangat tinggi hal ini tentunya memperngaruhi berbagai sektor di Indonesia termasuk dalan sektor ekonomi. Pemerintah Indonesia tentunya selalu berupaya untuk menjaga iklim investasi yang positif bagi penanaman modal asing. Dengan menyebarnya virus Covid-19 negara – negara di dunia menutup akses masuk ke negaranya, temasuk Indonesia. PT. PMA Virtue Dragon Nickel Industri (VDNI) salah satu perusahaan penanaman modal asing yang ada di Indonesia dan memegang izin dari Kementerian Tenaga Kerja (KEMENAKER) untuk mendatangkan tenaga kerja asing dalam rangka pembagunan smelter ditengah pandemi Covid-19. Hal ini kemudian menimbulkan polemik di Indonesia karena ditengah berbagai permasalahan ketenagakerjaan Pemerintah Indonesia memberikan izin untuk mendatangkan Tenaga Kerja Asing ke Indonesia di tengah pandemi Covid-19. Oleh karena itu dalam penulisan ini akan dilakukan analisa yuridis mengenai legalitas perusahaan penanaman modal asing untuk mendatangkan tenaga kerja asing di tengah pandemi Covid-19Kata Kunci: Tenaga Kerja Asing; Covid-19; Legalitas.

Determinants of Capital Structure in Pakistani Listed Firms (The Case of Pakistani Listed Firms)

The sample data was comprised of non-financial firms listed on Karachi Stock Exchange, Pakistan from 1993 to 2002 excluding banks, insurance companies, and investment companies. We were taken the debt to total assets ratio as a proxy for leverage (dependent variable) that was measured following ways mentioned in previous studies (Jensen (1986), Harris and Revive (1990) and Banerjee, et al., 2000). For potential determinants of leverage, we study four independent variables namely tangibility, size, growth and profitability. Variables affecting leverage ratio were calculated by dividing the total debt by total assets and 3-variables were significantly related to leverage ratio whereas the remaining variables were not statistically significant in having relationship with the debt ratio. Our results showed that tangibility variable confirms tradeoff theory, Growth (GT) variable confirms the agency theory hypothesis and Profitability (PF) confirms the predictions of pecking order theory.