ANALISIS KEPEMILIKAN ASING DAN NILAI PERUSAHAAN NON-KEUANGAN YANG TERDAFTAR DI BEI

This study aims to analyse impact of foreign ownership to value of non-financial companies listed on Indonesia Stock Exchange.The independent variables consist of Total Foreign Ownership, Foreign Institution Ownership, and Foreign Company Ownership. The variables control consist of size, age, dummy director. Variable dependent is Company Value, using Tobins'Q ratio. The research sample is 72 companies with purposive sampling sampling technique. Period of data is 5 years, from 2014-2018. Data panel regression using as data analysis method. The results showed that Total Foreign Ownership and Foreign Institution Ownership positively and still significantly at level of <15%. While Foreign Company Ownership has a positive but insignificant relationship to the value company. Size, Age, dummy director is not influence to value company. Penelitian ini bertujuan untuk menganalisis pengaruh kepemilikan asing terhadap nilai perusahaan pada perusahaan non-keuangan yang terdaftar di Bursa Efek Indonesia. Variabel independen terdiri dari Kepemilikan Asing Total, Kepemilikan Institusi asing, dan Kepemilikan Perusahaan Asing. Variabel kontrol terdiri dari Ukuran perusahaan, Umur Perusahaan, dan dummy Direksi. Variabel dependen adalah Nilai Perusahaan, diukur dengan Tobin’s Q. Sampel penelitian sebanyak 72 perusahaan yang ditentukan dengan teknik purposive sampling. Periode data 5 tahun, yakni dari 2014-2018. Metode analisis data yang digunakan adalah regresi data panel. Hasil penelitian menunjukan Kepemilikan Asing Total dan Kepemilikan Institusi Asing berpengaruh positif dan masih signifikan pada tingkat < 15% terhadap Nilai Perusahaan. Sementara Kepemilikan Perusahaan Asing memiliki pangaruh positif tetapi tidak signifikan terhadap Nilai Perusahaan. Ukuran Perusahaan, Umur Perusahaan, dan dummy direksi tidak berpengaruh terhadap Nilai Perusahaan.

Dissolution of Marriage: An Interrelation between Legal and Social Aspects

The paper deals with the legal institution of dissolution of marriage in the context of creating conditions for the marriage preservation. It is concluded that it is necessary to change the procedure of dissolution of marriage in order to ensure the possibility of reconciliation of spouses, for example, to determine the powers of the court to refer the case to a specialist, who performs conciliation (mediator or psychologist), if this procedure is free of charge for spouses. Given the importance of preservation of the family when there are minor children in the family, the possibility of reconciliation must also be extended. The second approach to changing the existing law in the area of marriage dissolution with regard to the grounds, may include the transition to the concept of “divorce/ sanction” (including its flexible application). This approach is widely used in foreign legislation, it has long been traditional for domestic law and is approved in legal consciousness. The third approach may involve the modification of law enforcement practices relating to post-divorce upbringing of children, which indirectly motivates one party to divorce, even though this practice does not correspond either to the law or to social expediency. As a possible option, we recommend the use of the foreign institution of “joint guardianship” adapted in our system of law as determination of the place of residence of the child on a parity basis.

Case Report: Pancytopenia as an indicator for lysosomal storage disease (Gaucher's Disease)

Introduction: Lysosomal storage disorders are a rare group of diseases with genetic origin in which Gaucher Disease (GD) stands out as the most frequent. GD type 1 is the most common form of this condition, and patients with this pathology present with unexplained cytopenias, in addition to hepatosplenomegaly, bone involvement, and in other cases neurological disorders. A case of a patient is presented, whose results showed thrombocytopenia and leukopenia in addition to hepatosplenomegaly. In Latin America, there are very few reported cases of this clinical entity, and information on this disease is very limited. Case: We present a case of a patient diagnosed with GD, who presented with thrombocytopenia and leukopenia in addition to hepatosplenomegaly, with the aim of emphasizing the importance of early recognition of this pathology, especially in patients with unexplained cytopenia’s or hepatosplenomegaly’s. In suspicion of GD, enzymatic quantification of β-glucocerebrosidase was performed, showing its deficit in addition to alteration in the GBA gene. Unfortunately, enzymatic replacement could not be done because the Cerazyme (imiglucerase for injection) is not available in Ecuador. Nevertheless, the patient was treated with analgesic (1g of paracetamol generally three times a day) and vitamin supplements (Dayamineral). Currently the patient is waiting for transfer to a foreign institution; she continues with bicytopenia and hepatosplenomegaly, her conditions are expected to be remit once the enzymatic treatment has been administered. Conclusion: We believe that the timely recognition of this disease will allow the initiation of enzymatic replacement therapy in an effective manner, in order to reduce morbidity and improve the clinical aspects of the patient.

Sharing a laugh at others: Humorous convergence in French conversation

The aim of this article is to clarify the fuzzy notion of “successful humour”. It focuses on humorous sequences in French face-to-face interactions which are both successful and have a same type of target: a collective “Other” (foreign culture, a French or foreign institution, a French or foreign socio-professional group). It will be shown that laughing about/at others (with all the aggressiveness this could imply) is not inconsistent with the necessary collaborative aspect of the conversation.On the contrary, the necessary collaboration between the participants will be highlighted through analysing humour in two different but complementary ways. Firstly, analysing humour through one specific target (the collective “Other”) will show that the participants rely on shared knowledge to display fictitious identities allowing them to construct humour. Secondly, a structural analysis of successful humorous sequences will deepen the notion of successful humour, highlighting two different structures: a two-part structure and a three-part structure. While the terms “successful humour” will be restricted to the former, the notion of “humorous convergence” will be proposed to refer to the latter.This study is based on 51 successful humorous sequences extracted from three face-to-face interactions audio- and video-recorded in an anechoic room at Aix-Marseille University, France

Os pesquisadores, as publicações e os periódicos da área de Finanças no Brasil: Uma análise com base em currículos da plataforma Lattes

This paper analyzes the scientific output of Finance researchers in Brazil. Using a proprietary software to download information directly from the Lattes platform it was possible to verify the profile and the tendencies of research in the area of Finance in the national territory. The main results of the study show that most of the researchers of Finance are relatively young with respect to their career, with PhD finished in between the years of 2005 and 2014, and located in the southeastern part of the country. The scientific output of Brazilian researchers in international journals is small in comparison to the total of publications. The number of published papers has risen exponentially, however the quality of the papers, measured by Qualis, has decreased. An analysis of the productivity of the researchers show that the most productive authors have two common attributes: PhD degree obtained in a foreign institution and the productivity scholarship from CNPQ.

Foreign institutional investor trading in Chinese A-share markets

Purpose – This paper addresses the topic “The interaction between financial institutions and firms in the nonfinancial sectors” in the special issue of “Banking and finance in China.” The purpose of this paper is to examine the trading behavior and price effects of foreign institutions under the celebrated Qualified Foreign Institutional Investor (QFII) scheme on all non-financial firms in the Chinese A-share markets. Design/methodology/approach – Using quarterly equity-level foreign institution transactions from 2005Q1 to 2011Q4 in the Chinese A-share market, the author finds a positive and significant contemporaneous relationship between foreign flows and equity returns. For each quarter, the author sorts the stocks into ten portfolios based on the percentage of foreign flows, and employs the bivariate vector autoregression (VAR) model to examine the contemporaneous association in detail. Findings – Foreign institutions in the Chinese A-share markets do not show positive or negative feedback trading; however, their flows have a strong impact on future equity returns because of informational advantage. Additionally, different associations are found between foreign flows and equity returns. Research limitations/implications – Constraints on data availability exist, and a quarterly dimension is too coarse to provide a statistically precise result, although certain related papers use quarterly dimension data. Further research is required using higher frequency data. Originality/value – This paper provides a first look at foreign institution trading patterns and price effects on local equity returns in the Chinese A-share markets. Additionally, the equity level data allow the author to exclude the stocks that were not bought by foreign institutions and to detect the “pure effect” of foreign flows on equity returns.

Navigating the International Academic Job Market

ABSTRACTGiven the extraordinarily competitive academic job market in the United States, this article explores a relatively new prospect for American-trained political science PhD graduates: teaching at a foreign institution. The article proceeds in two parts. First, it discusses various benefits and challenges associated with working abroad. Second, it provides practical guidance for candidates considering the international job market.

Outsourcing of Medical Surgery and the Evolution of Medical Telesurgery

With rising and often unreasonable costs in the U.S. healthcare system, Americans are becoming more inclined to seek cheaper alternatives. In some cases, Americans do not have to search for such alternatives on their own because their employers are offering them incentives to receive care from a foreign institution. Employees can go abroad to countries, such as India, in order to receive medical services for prices that are at least half of what the procedure would cost in the U.S. This emerging market seems to be beneficial to all involved except U.S. healthcare providers; however, this outsourcing of healthcare services sends a powerful international message. It seems that the U.S. has a healthcare system that cannot adequately serve all economic classes of the American public. In contrast, though India has the proper facilities and professionals, there are concerns regarding malpractice litigation, postoperative care, and possible negative effects on the Indian public. Having given consideration to all affected constituencies, it seems that the outsourcing of medical procedures is in the best interest of lower- and middle-class Americans as well as medical professionals in India. In reality, though medical tourism is receiving much attention, it will most likely not be a pressing concern for the American market in the near future. A widening discrepancy in the Indian public may, however, be cause for nearer concern. This new trend does foreshadow a push for more preventative changes in the business of U.S. healthcare, such as the development of information technology specific to the growing international healthcare market. Whereas, it will initially be beneficial to send patients abroad, with the evolution of technology, the latter ideal will instead be to have medical professionals abroad that care for patients located in the U.S.

Outsourcing of Medical Surgery and the Evolution of Medical Telesurgery

With rising and often unreasonable costs in the U.S. healthcare system, Americans are becoming more inclined to seek cheaper alternatives. In some cases, Americans do not have to search for such alternatives on their own because their employers are offering them incentives to receive care from a foreign institution. Employees can go abroad to countries, such as India, in order to receive medical services for prices that are at least half of what the procedure would cost in the U.S. This emerging market seems to be beneficial to all involved except U.S. healthcare providers; however, this outsourcing of healthcare services sends a powerful international message. It seems that the U.S. has a healthcare system that cannot adequately serve all economic classes of the American public. In contrast, though India has the proper facilities and professionals, there are concerns regarding malpractice litigation, postoperative care, and possible negative effects on the Indian public. Having given consideration to all affected constituencies, it seems that the outsourcing of medical procedures is in the best interest of lower- and middle-class Americans as well as medical professionals in India. In reality, though medical tourism is receiving much attention, it will most likely not be a pressing concern for the American market in the near future. A widening discrepancy in the Indian public may, however, be cause for nearer concern. This new trend does foreshadow a push for more preventative changes in the business of U.S. healthcare, such as the development of information technology specific to the growing international healthcare market. Whereas, it will initially be beneficial to send patients abroad, with the evolution of technology, the latter ideal will instead be to have medical professionals abroad that care for patients located in the U.S.

Outsourcing of Medical Surgery and the Evolution of Medical Telesurgery

With rising and often unreasonable costs in the U.S. healthcare system, Americans are becoming more inclined to seek cheaper alternatives. In some cases, Americans do not have to search for such alternatives on their own because their employers are offering them incentives to receive care from a foreign institution. Employees can go abroad to countries, such as India, in order to receive medical services for prices that are at least half of what the procedure would cost in the U.S. This emerging market seems to be beneficial to all involved except U.S. healthcare providers; however, this outsourcing of healthcare services sends a powerful international message. It seems that the U.S. has a healthcare system that cannot adequately serve all economic classes of the American public. In contrast, though India has the proper facilities and professionals, there are concerns regarding malpractice litigation, postoperative care, and possible negative effects on the Indian public. Having given consideration to all affected constituencies, it seems that the outsourcing of medical procedures is in the best interest of lower- and middle-class Americans as well as medical professionals in India. In reality, though medical tourism is receiving much attention, it will most likely not be a pressing concern for the American market in the near future. A widening discrepancy in the Indian public may, however, be cause for nearer concern. This new trend does foreshadow a push for more preventative changes in the business of U.S. healthcare, such as the development of information technology specific to the growing international healthcare market. Whereas, it will initially be beneficial to send patients abroad, with the evolution of technology, the latter ideal will instead be to have medical professionals abroad that care for patients located in the U.S.