FACTORS AFFECTING SOLVENCY IN INSURANCE COMPANIES IN INDONESIA 2015–2019 PERIOD

Firm size, investment return ratios, self-retention ratios, and underwriting results are all being examined in this research to see how they affect solvency (proxied by the Risk Based Capital ratio). In this study, 74 insurance businesses registered with the Financial Services Authority (OJK) between 2015-2019 were studied. Using the purposive sampling method, a fair sample of 40 insurance companies was drawn over the course of five years. Consequently, the total number of observations was 200. Eviews 11, a program for panel data regression analysis, is used in this research. According to the findings of this study, insurance companies' solvency is affected by the Self-Retention Ratio and Underwriting Results. While the Firm Size and Investment Return Ratio have no effect on the solvency of insurance companies.

Simulation Study on Modified Weibull Distribution for Modelling of Investment Return

The Weibull distribution is one of the most popular statistical models extensively applied to lifetime data analysis such as survival data, reliability data, wind speed, and recently in financial data, due to itsts flexibility to adaptably imitate different families of statistical distributions. This study proposed a modified version of the two-parameter Weibull distribution by incorporating additional parameters in the internal rate of return and insurance claims data. The objective is to examine the behaviour of investment return on the assumption of the proposed model. The proposed and the existing Weibull distribution parameters have been estimated via a simulated annealing algorithm. Experimental simulations have been conducted mimicking the internal rate of return (IRR) data for both short time (small sample) and long-term investment periods (large samples). The performance of the proposed model has been compared with the existing two-parameter Weibull distribution model in terms of their R-square (R2), mean absolute error (MAE), root mean squared error (RMSE), Akaike’s information criterion (AIC), and the Kolmogorov-Smirnov test (KS). The numerical simulation revealed that the proposed model outperformed the existing two-parameter Weibull distribution model in terms of accuracy, robustness, and sensitivity. Therefore, it can be concluded that the proposed model is entirely suitable for the long-term investment period. The study will be extended using the internal rate of return real data set. Furthermore, a comparison of the various Weibull distribution parameter estimators such as metaheuristics or evolutionary algorithms based on the proposed model will be carried out.

Risk Management Based on NPV-at-Risk: A Case Study in Floating Solar Power Plant Project

There are some unpredicted factors in floating solar power plants that can affect the investment return value. This research aimed to develop an NPV-at-risk based risk management analysis on the floating solar power plant. This research proposed six-staged solutions: communication and consultation, context assignment, risk identification, risk analysis, risk evaluation, and risk mitigation. This study took place in a floating solar power plant in Indonesia. This research showed that some unpredicted risks, such as irradiation, operation and maintenance costs, inflation, and interest rate, could contribute to the investment return. This procedural proposal could be applied in the management of the income realization based on the income projection.

Analisis Pengaruh Kinerja Keuangan Terhadap Return Saham Pada Perusahaan PT. Ramayana Lestari Sentosa Tbk

Penelitian ini dilakukan untuk mengetahui secara parsial dan simultan kinerja keuangan terhadap return saham pada perusahaan PT. Ramayana Lestari Sentosa selama tahun 2010-2019. Jenis penelitian ini berbentuk deskriptif kuantitatif maksudnya dalam penelitian ini untuk mencari kecil atau besarnya suatu pengaruh terhadap suatu objek yang diteliti. Alat analisis yang digunakan dalam penelitian ini adalah dengan menggunakan rasio Earning Per Share, Price Earning Rato0, Debt to Equity Ratio, Return on Investment, Return on Equity, dan analisis regresi linear berganda. Hasil penelitian ini adalah Earning per Share berpengaruh positif tapi tidak signifikan terhadap return saham PT. Ramayana Lestari Sentosa Tbk. Hal ini dibuktikan dengan hasil uji parsial yang menunjukkan nilai thitung lebih kecil dari nilai ttabel dan nilai signifikan lebih besar dari nilai alfa. Price earning ratio berpengaruh positif tapi tidak signifikan terhadap return saham PT. Ramayana Lestari Sentosa Tbk. Hal ini dibuktikan dengan hasil uji parsial yang menunjukkan nilai thitung lebih kecil dari nilai ttabel dan nilai signifikan lebih besar dari nilai alfa. Return on investment berpengaruh positif tapi tidak signifikan terhadap return saham PT. Ramayana Lestari Sentosa Tbk. Hal ini dibuktikan dengan hasil uji parsial yang menunjukkan nilai thitung lebih kecil dari nilai ttabel dan nilai signifikan lebih besar dari nilai alfa. Return on equity berpengaruh positif tapi tidak signifikan terhadap return saham PT. Ramayana Lestari Sentosa Tbk. Hal ini dibuktikan dengan hasil uji parsial yang menunjukkan nilai thitung lebih kecil dari nilai ttabel dan nilai signifikan lebih besar dari nilai alfa. Earning per share, debt to equity ratio, price earning ratio, return on investment, dan return on equity secara simultan berpengaruh positif tapi tidak signifikan terhadap return saham PT. Ramayana Lestari Sentosa Tbk. Kata kunci : Return Saham dan Kinerja Keuangan

On Calculating Method of the Kelly Criterion for Financial Investment in Single Risky Asset with Various Distributions of Returns

In this paper, the expectation of the reciprocal of first-degree polynomials of non-negative valued random variables is calculated. This is motivated to compute the Kelly criterion, which is the optimal solution of the maximization of the expected logarithm of the investment return. As soon as the expectation of the reciprocal of first-degree polynomials of asset returns is calculated, which is our main interest, the Kelly criterion can be obtained by using the ordinary optimization technique or applying the appropriate algorithm.