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.

The distribution of [α/Fe] in the Milky Way disc

Using a sample of red giant stars from the Apache Point Observatory Galactic Evolution Experiment (APOGEE) Data Release 16, we infer the conditional distribution p([α/Fe] | [Fe/H]) in the Milky Way disk for the α-elements Mg, O, Si, S, and Ca. In each bin of [Fe/H] and Galactocentric radius R, we model p([α/Fe]) as a sum of two Gaussians, representing ‘low-α’ and ‘high-α’ populations with scale heights z1 = 0.45 kpc and z2 = 0.95 kpc, respectively. By accounting for age-dependent and z-dependent selection effects in APOGEE, we infer the [α/Fe] distributions that would be found for a fair sample of long-lived stars covering all z. Near the Solar circle, this distribution is bimodal at sub-solar [Fe/H], with the low-α and high-α peaks clearly separated by a minimum at intermediate [α/Fe]. In agreement with previous results, we find that the high-α population is more prominent at smaller R, lower [Fe/H], and larger |z|, and that the sequence separation is smaller for Si and Ca than for Mg, O, and S. We find significant intrinsic scatter in [α/Fe] at fixed [Fe/H] for both the low-α and high-α populations, typically ∼0.04-dex. The means, dispersions, and relative amplitudes of this two-Gaussian description, and the dependence of these parameters on R, [Fe/H], and α-element, provide a quantitative target for chemical evolution models and a test for hydrodynamic simulations of disk galaxy formation. We argue that explaining the observed bimodality will probably require one or more sharp transitions in the disk’s gas accretion, star formation, or outflow history in addition to radial mixing of stellar populations.

Type II SN Light Curves from the Caltech Core Collapse Project

We presented our analysis of a sample of type II supernova (SN) light curves measured by the Caltech Core Collapse Project (CCCP). CCCP is a large observational program which made use of the robotic 60-in and the Hale 200-in telescopes to obtain optical photometry, spectroscopy and IR photometry of 49 nearby core-collapse supernovae (SNe). It provides a fair sample of core-collapse events, with well-defined selection criteria, and uniform, high-quality optical/IR observations. Our goal is to characterize the little-studied properties of core-collapse supernovae as a population. Preliminary data indicate a diverse set of sub-populations including “standard” type IIP supernovæ, declining supernovæ (at different rates) and slowly rising peculiar supernovæ. Work is in progress to map and quantify that diversity better. It is hoped that a single tunable formula will be able to describe most light-curve shapes, thereby helping us attain a better understanding of the physical mechanisms underlying these results.

Post-Issue Operating Performance Of Nasdaq IPOs

In the ’90s bullish stock markets, it was the IPO which created the bubble of ‘excessive exuberance’, particularly in the technology-heavy NASDAQ market. In our study we have taken a fair sample of NASDAQ IPOs issued during 1990-2000 in order to examine the post-issue operating performance of these IPOs. We have found that during 1990-1995, the mean post-issue one-month return was 1.67%, the mean six-month return was 4.28%, and the mean one-year return was 5.23%, respectively. This could be compared with the results for the 1996-2000 period when the mean one-month return was 3.29%, mean six-month return was 16.96%, and the mean one-year return was 19.97%, respectively. As for the debt/asset and debt/equity ratios for the same two periods, the former was 11.98% and 15.23% for the two periods, and the latter ratio was 5.38% in 1990-1995 and 3.13% in 1996-2000. This clearly shows that the NASDAQ bubble was mainly created by the equity issues, not by the issuance of debt securities. Using the multiple regression equations, we also have found that only the first-day closing price was consistently and negatively associated with annual returns. Obviously, the phenomenon of initial underpricing played a big role in determining the annual return of the NASDAQ IPOs during the last decade in the U.S. securities markets.

[The Methodology of Science]

This chapter focuses on the method of induction. The technique of induction consists wholly in learning how to take fair samples of the facts in question and how to observe these facts accurately and adequately. This kind of induction seems to be especially prominent in the organic sciences. However, a great deal of scientific work now consists of the forming and testing of hypotheses. In such cases, the inductive process is more complex. The technique of induction now involves at least four distinct processes: (1) the choice of a good hypothesis; (2) the computation of certain consequences, all of which must be true if the hypothesis is true; (3) the choice of a fair sample of these consequences for a test; and (4) the actual test of each of these chosen consequences.

Galaxy Interactions in the Local Volume

Imaging of a large number of faint galaxies with the Hubble Space Telescope reveals a significant excess of interacting and peculiar objects among them (Griffiths et al., 1994, Burkey et al., 1994). Being expected in general, this result needs, however, to be expressed quantitatively. To estimate evolutionary changing of the relative number of interacting galaxies, δint(z), from their redshift z, one must determine reliably the local value, δint(0). But due to a subjective manner of definition of interacting galaxy system, the published values of δint(0) differ from one author to another several times. The most appropriate sample to estimate δint(0) would be quite a representative sample of very nearby galaxies, which is restricted by their distance or radial velocity. Below we consider data on such a fair sample, named the Local Volume (=LV), which is the most complete one at the present moment.

TQM in practice: a survey of Singapore’s manufacturing companies on their TQM practices and objectives

Presents the findings of a survey on total quality management (TQM) practices of Singapore’s manufacturing companies. Details that the sample comprised 27 companies of different country origins, they came from different industries and together, the companies employed more than 16,000 people, which is approximately 5 per cent of Singapore’s manufacturing labour force, thus, in the view of the writers, representing a fair sample. Confirms from the findings that TQM is well established in Singapore, especially among medium‐ to large‐sized manufacturing companies, although not in all its facets, hence giving a mixed picture. Fails to confirm that the practice of TQM in companies of different country origins was significantly different, though Japan probably had an edge.

The 3-D Distribution of Abell Clusters

The Struble & Rood catalogue (Ap. J. Supp, 63, 543) of all measured Abell cluster redshifts is analysed, with corrections for the selection biases. This contains 533 redshifts with |b| ≥ 30°, z ≤ 0.3 compared with 104 in the sample of Bahcall & Soneira (Ap. J.270, 20). Although the catalogue contains biases in angular position (redshifts are preferentially measured in apparent “supercluster” regions) the information on redshift clustering is effectively unbiased since one cannot tell a priori whether pairs of clusters close on the sky are really associated in redshift. Thus the distribution of redshift differences for pairs of given angle & distance classes, f(Δz|θ,D1,D2), is a fair sample of the true distribution. Then by normalising to the “correct” angular correlation function, we obtain the joint distribution f(Δz,θ) and hence ξ(r). In practice, in the estimation of ξ we assign each pair a weight a where where wA is the correlation or cross correlation for the appropriate subset of the whole Abell catalogue. This gives ξ(r) ≈ (r/20 h−1Mpc)−1.8, just slightly smaller than the result of Bahcall & Soneira, but here ξ(r) ≈ 0 for r ≥ 50−1Mpc.

Multistate Demography and its Data: A Comment

Much of sociology and practically all of demography deal with transitions of people from one state at a certain moment to another state a year or more later. It is now clear that all such calculations of transition or movement are formally identical with what may be called the basic migration problem. The arithmetic for handling people moving from the single to the married state is identical with that for them moving from New York to Pennsylvania. The papers in this issue cover a wide range of substantive problems and exemplify several points concerning the methodology of demography. They provide a fair sample of multidimensional theory, of the means of application to data, and of the results of that application. They demonstrate the advantage of incorporating several demographic processes in a single model, even though they leave some questions unanswered.