CRYPTOCURRENCIES OR CAPITAL MARKETS. COMPARATIVE ANALYSIS OF INVESTMENT EFFICIENCY IN 2011-2020

Cryptocurrencies have become an important element of the global financial system and a frequent investment tool in the last decade. The aim of this paper is to compare the efficiency of investments in the cryptocurrency market with investments in global capital markets. The study used the quotations of the analyzed instruments in the years 2011-2020. The investment efficiency was estimated using Sharpe and Sortino ratios. Research has shown that investments in cryptocurrencies were the most effective. They brought, on average, the highest daily rates of return, but on the other hand, they were characterized by the highest risk. Such a result could have been significantly influenced by the widespread persistence of ultra-low interest rates and a decline in the attractiveness of debt securities. The best results were obtained for investments in bitcoin and ethereum, which have the largest share of cryptocurrency market capitalization.

Useful paths for identifying Lean Six Sigma improvement opportunities

PurposeThe goal of this work is to clarify seven useful DMAIC Analyze phase options for developing process improvement opportunities required for successful projects.Design/methodology/approachUsing a scientific method problem solving structure, IO possibilities are shown to be predicted by rejecting a conceptual testable hypothesis.FindingsSeven analysis paths are identified that enable learners to develop multiple IO discovery strategies and to narrow tool selection options. Four benefit areas for identifying analysis paths are given: improved training, continuous improvement foundation, leadership support and framework clarification.Research limitations/implicationsAny starting list of analysis paths for developing IOs would be incomplete. The diversity of application experiences and tools will add to the current list.Practical implicationsLearners participating in LSS activities are aware of management's expectation that they will develop IOs to justify the LSS investment. Tool-focused training may leave some learners unclear about the multiple possible sources for IOs. Identifying useful analysis paths with associated tools for IO discovery will address any learner's Analyze phase uncertainty and facilitate expanded opportunities.Originality/valueAny successful LSS project must discover IOs to develop improvement actions. Clarifying IO discovery alternatives will encourage team brainstorming on Analyze phase investigative options. This framework identifying LSS improvement paths will assist practitioners in training and communicating with leadership and learners the range of approaches for developing improvement actions.

Investments in the cryptocurrency market or the commodity exchange. Which is more efficient?

Cryptocurrencies have become an essential element of the global financial system, and in recent years also a frequent investment tool. The aim of the study is to check whether investments in cryptocurrencies are more effective than in commodities on commodity exchanges. The study was conducted based on the daily quotations of the analyzed instruments in 2011–2020. The investment efficiency level was estimated using Sharpe’s and Sortino’s indicators. The research results showed that, on average, over the entire period under study, investments in cryptocurrencies were burdened with the highest risk, but at the same time achieved the highest daily rates of return. As a result, they were much more effective investment tools than gold, silver and WTI. The advantage of cryptocurrencies could be due to the long-term persistence of ultra-low interest rates and the reduced attractiveness of investment in debt securities. Bitcoin and etherum with the largest shares in cryptocurrency market capitalization have proven to be the most effective investment tools.

Risk of Investment in Cryptocurrencies

Subject and purpose of work: Cryptocurrencies are a phenomenon that has been strengthening its place in the world of finance for over ten years and which is becoming a frequent investment tool. The aim of this study is to compare the level of risk measures of investments in the cryptocurrency market with investments in global capital markets in 2011-2020. Materials and methods: The study used the quotations of the analysed instruments. The level of risk was estimated using standard deviation and semi-standard deviation of daily logarithmic rates of return. Results: Investment in cryptocurrencies is more risky than in shares of the largest international companies. The level of risk decreases with the duration of the cryptocurrency presence on the market. Conclusions: Achieving extraordinary rates of return generates an increased demand and volatility of cryptocurrencies’ quotations. The level of risk of investing in cryptocurrencies is much higher than in the indexes of global capital exchanges.

Economic Assessment of Solar Milling Plants as an Investment Tool: A Case of Katete District-Zambia

The purpose of this study was to assess the economic impact of the solar milling plants to the local people in Katete District, Zambia. The specific objectives were to assess the performance of the solar milling plans, the effect of solar milling plants on mealie meal prices on the local market, the effect of solar milling plants on job creation in the district, and to find out challenges that co-operators are facing in managing the solar milling plants in the district for economic development, suggesting measures to be put in place to see to it that the program was sustainable. The research employed a qualitative research design, and extensive literature reviews were conducted in order to have a broader understanding of the research. The data was collected using the structured questionnaires and interview guide. The main findings of the research were that the hypothesis was rejected because there were no immediate economic benefits of the solar milling plants to the local people of Katete District. Following the results of the research, the solar milling plants were underperforming and underutilized in the district. Solar milling plants had no effect on the price of mealie meals in the district. Solar milling plants had a 40% effect on job creation in the district, and the study concluded that there were no immediate economic benefits brought about by solar milling plants in the district at the time of the study.

Investing into ETF – Exchange Investment Funds in Digital Economy

The article explains the notion of exchange investment funds as a tool of investing on stock exchange in conditions of digital economy. It studies attainable today tools for investing into exchange investment funds, structure, working mechanism, as well as goals and objectives of investment funds as a separate tool for investment. The authors identify the key aims of investing into investment funds available on the exchange and the sequence of using this investment tool. They show opportunities and threats of investing into exchange investment funds for the investor and necessary analytical tools for investing into exchange investment funds and also provide characteristics, which are essential for estimating and selecting investment funds by the investor. The article explains such terms as controlling company, liquidity, dividend yield, fund index, replication and demonstrates expediency of using tools of investing into investment funds for beginners and experienced investors. The authors research the present trends on the finance exchange in view of investing into exchange investment funds and come to the conclusion about basic preconditions for investing into investment funds.

PERTANGGUNGJAWABAN PELAKU MONEY LAUNDERING MELALUI BINANCE COIN

<p><em>The results of this research in this article show that the existence of virtual money in trade as a means of investment and payment in Indonesia can be said to be illegal when viewed from Law Number 7 of 2011 concerning Currencies. Digital money users in Indonesia are widely used in terms of business, which if traced in Indonesia there are already digital money such as Bitcoin and Binance Coin and others. Then, there is also the responsibility of perpetrators of money laundering crimes who use digital money as an investment tool that has a negative impact on the State of Indonesia, especially those related to this business because the person or group who committed the crime uses technological advances with dirty goals so that the perpetrator can be caught law using Law No. 8 of 2010 concerning The Prevention and Eradication of Money Laundering.</em></p><p><strong><em>Keywords</em></strong><em>: Money laundering, digital currency, criminal liability</em></p><p> </p><p>Hasil penelitian dalam artikel ini menunjukkan eksistensi uang virtual dalam perdagangan sebagai alat investasi dan pembayaran di Indonesia dapat dikatakan tidak sah penggunaannya jika dilihat dari Undang-undang Nomor 7 Tahun 2011 Tentang Mata Uang. Pengguna uang digital di Indonesia banyak dipakai dalam hal bisnis, yang jika ditelusuri di Indonesia sudah ada uang digital seperti Bitcoin dan Binance Coin dan lain-lain. lalu, ada pun tanggung jawab pelaku tindak pidana pencucian uang yang memakai uang digital sebagai sarana alat investasi berdampak negative bagi Negara Indonesia, terutama yang menyangkut terkait bisnis ini disebabkan orang atau kelompok yang melakukukan kejahatan tersebut menggunakan kemajuan teknologi dengan tujuan yang kotor sehingga pelaku bisa di hukum menggunakan Undang-undang No. 8 Tahun 2010 tentang pencegahan dan pemberantasan tindak pidana pencucian uang.</p><p><strong>Kata Kunci: </strong>Pencucian uang, mata uang digital , pertanggung jawaban pidana</p>

Examining the effectiveness of fundamental analysis in a long-term stock portfolio

Over the past decade, a number of modern and sophisticated methods have been developed to optimize the composition of equity portfolios. Most of these methods are based on complex mathematical or financial modelling. Less emphasis has been placed on companies’ internal data, while in recent years external data have become increasingly important. However, for long-term investments, the dominance of external data is not necessarily an efficient way to construct an appropriate portfolio. In this paper, we highlight the phenomenon that complex mathematical models, the based on simpler fundamental indicators can also be an efficient investment tool for in making investment decisions. Our results show that our hypothesis has been confirmed that some basic-based indicators can achieve alpha returns. Our analysis is based on financial reporting data in the form of various financial indicators. We used the S&P500 index as benchmark. A comparative analysis of the stock portfolio created illustrates that basic analysis can be more effective than a chosen market-based stock index. By the end of the period under review, the portfolio based on the selected five core financial indicators had a market capitalization 1.68% higher than the benchmark. The alpha return achieved also demonstrates that even simpler models can be efficient and effective in creating an equity portfolio.

ANALISIS PENYELESAIAN SENGKETA DALAM KEGIATAN USAHA JASA KEUANGAN PASAR MODAL DI INDONESIA

Capital Markets can also be interpreted as a professional institution that deals with securities buying and selling transactions, the capital market as a long-term investment tool that is currently becoming a trend in the community. But it cannot be denied that along with the development of the capital market in Indonesia it has caused problems or also disputes in the process of capital market activities in Indonesia. The problem in this research is how do the procedures and dispute resolution processes in business activities in the financial services sector after the procedures and processes in the settlement of Capital Market disputes, we must also know the legal consequences of the disputes in the financial services business of the Capital Market? The research method used a normative and empirical juridical approach, the data used are secondary data and primary data. Studies conducted with literature studies and field studies, data analysis used is qualitative juridical. The results show that the procedure and capital market dispute resolution process can be carried out either litigation or non-litigation, but the joint parties usually choose a non-litigation path in the procedure, if through non-litigation the parties must go through internal mediation first if the internal mediation fails involving the Financial Services Authority (OJK) as a facilitator in the process of resolving the problems after the process at the financial services authority did not get an agreement, the settlement could be continued through the Sengekta Alternative Settlement Agency (LAPS) and the Capital Market Arbitration Agency (BAPMI).

Legal regulation of cryptocurrency in Ukraine

Introduction. Cryptocurrency is a relatively new financial market instrument, but due to a lack of the fundamental principles of the legal regulation and legal regulation of market of cryptocurrency, individuals and legal entities, who have at their disposal the virtual assets are effectively deprived of an effective way to protect their ownership of such assets. The following key features of cryptocurrency are outlined: lack of control and restrictions on financial transactions, anonymity, the possibility of using it as an investment tool, the speed of transactions, a high degree of security. The purpose of the paper is explores the question of definition of legal essence, the maintenance of cryptocurrency is investigated. Results. Nature and legal uncertainty does not allow it to be identified with any of the related concepts (money, securities, currency value, means of payment, currency, money surrogate, etc.). That is, cryptocurrencies are currently in Ukraine outside the scope of legal regulation. The analysis of definition of a concept of cryptocurrency in the draft law on circulation of cryptocurrencies in Ukraine is carried out; prospects for the legislative implementation of cryptocurrency in Ukraine, in addition, the author draws attention to the novelties of the legislation on financial monitoring, namely certain provisions of the Law of Ukraine “On Prevention and Counteraction to Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of Weapons of Mass Destruction Proliferation”. Conclusion. The analysis of the characteristics of cryptocurrency leads to a conclusion that the cryptocurrency can be understood as electronic money. The paper presents a vision of further trends in the use of cryptocurrency in everyday life and business environment, opens up an opportunity for further research in the field of the cryptocurrency market, further development of Ukraine and integration to the world financial system.