ECO-LABELING AND INTERNATIONAL TRADE AGREEMENTS: THE CASE OF MARINE STEWARDSHIP COUNCIL CERTIFICATION FOR INDONESIA'S SHRIMP POTENTIAL MARKET

Abstrak Artikel ini membahas analisis biaya dan manfaat dari Marine Stewardship Council (MSC) untuk ekspor udang putih (Litopenaeus vannamei) dan udang windu (Penaeus monodon) dari Indonesia. Penerapan MSC pada produk perikanan memang tidak wajib, tetapi dapat mempengaruhi kinerja eskpor Indonesia. Perhitungan analisa biaya dan manfaat untuk proyek MSC menggunakan beberapa pilihan yang dihitung ke dalam empat komponen analysis yang terpisah (Proyek, Privat, Efisiensi, dan kelompok penerima manfaat). Dengan menggunakan data tahun 2018 dan jangka waktu investasi selama 20 tahun, kajian ini membandingkan hasil investasi yang menerapkan standard MSC dengan hasil investasi yang tidak menerapkan standard MSC dengan mempertimbangkan hambatan dari biaya perdagangan internasional. Secara keselurahan, studi ini menunjukkan bahwa the Net Present Values (NPVs) and Internal Rate of Returns (IRRs) bersifat konsisten untuk semua pilihan analysis. Studi ini juga menyimpulkan bahwa berdasarkan hasil dari analisis pasar, Amerika Serikat adalah pasar yang menjanjikan bagi produk udang Indonesia yang berlabelkan MSC. Pemerintah Indonesia akan menikmati 13% kenaikan pendapatan dari pajak keuntungan bisnis tersebut, meskipun proyek ini tidak memberikan dampak perubahan kepada tenaga kerja tidak terampil. Oleh karena itu, studi ini merekomendasikan pemerintah Indonesia untuk mempromosikan program MSC untuk perikanan berkelanjutan, terutama bagi peningkatan kinerja eskpor udang Indonesia. Kata Kunci: Kebijakan Perdagangan, Perikanan Tangkap, Keberlanjutan, Cost-Benefit Analysis Abstract This paper discusses the cost and benefits analysis of the Marine Stewardship Council (MSC) for Indonesia's exports of white shrimp (Litopenaeus vannamei) and tiger prawns (Penaeus monodon). The MSC adoption is voluntary, but it is likely to affect the performance of Indonesia's exports. We use several options applied separately in four components analysis in performing the social cost and benefit analysis (Project, Private, Efficiency, and Referral Group). Using the 2018 data and a 20-year investment period, this study compares the investment results applying the MSC standard with the results without investing in the MSC procedures concerning the trade cost barriers. Overall, the results reveal that the Net Present Values (NPVs) and Internal Rate of Returns (IRRs) are consistent for all options in all feasibility component analyses. It concludes that based on market analysis, the US market is the promising market as a primary export destination for Indonesian shrimp products with MSC label. The government will benefit by 13% from profit taxes, while this project does not affect unskilled labor benefits. Therefore, it recommends that the Indonesian government take more action to promote the MSC program for sustainable fisheries and boost shrimp export performance. Keywords: Trade Policy, Capture Fisheries, Sustainability, Cost-Benefit Analysis JEL Classification: F13, Q22, Q56, H43

Impact of recycling sustainability on organizational performance

This is empirical research focusing on the impact of recycling sustainability on Organizational performance in Nigeria. To achieve the objective of this study, a sample of 10 publishing houses in four major cities in Delta State was adopted, and these cities include Asaba, Warri, Sapele, and Oghara. Given that Nigeria is the regional publishing powerhouse in West Africa with newspaper publications selling in the whole region, likewise, textbook publishers in Nigeria dominate the regional market. The industry contributes about 10% of the GDP and is one of the fastest-growing in the manufacturing sector. Unfortunately, Nigeria does not produce most of the raw materials for publishing. All paper materials used in Nigeria are imported, and the costs are rising with the reliability of the sources dwindling. In addition, the publishing industry in Nigeria is faced with a high rate of waste and returns. The study focused on the impact of adopting recycling sustainability as a possible solution to the dwindling raw materials, increasing costs, and high rate of returns. It used a stratified random sampling approach and a descriptive research design.

Valuating hydrocarbon pipeline facility service beyond 20–25 year economic life: Accounting for residual value

The 20–25 years economic life for hydrocarbon pipelines in the investment decision model is at wide variance with historical statistical records of more than 90-percent world-wide. Opinions diverge, from service type to the product quality, and materials resilience as basis for this premise. While, financial experts consider time to fully depreciate a capital investment, irrespective of the rate of returns, engineers consider operational availability and reliability duration. The risk is that actual residue values of pipelines worldwide are erroneously omitted in every project’s economics Cash-flow computation, thus eroding the investment decision quality. Statistics showed that more than 60-percent of pipelines worldwide have already exceeded the 25 years economic life, while more than 40-percent have operated more than 30-years and above. This theoretical appraisal identified a gap in the economic model in handling multi-criteria risk management uncertainties like hedging, weighting, etc., and highlighted the exigency to craft and assign numeric residue values for pipelines in the investment Cash-flow models.

Analysis of Return and Risk of Cryptocurrency Bitcoin Asset as Investment Instrument

This study aims to explore the potential use of the cryptocurrency bitcoin as an investment instrument in Indonesia. The return obtained from bitcoin cryptocurrency is compared to other investment instruments, namely stock returns, gold and the rupiah exchange rate. The research period was carried out based on research data from 2011 to 2020. This study employee compares means test (t test) and analysis of variance (F test) on rate of return of bitcoin investment. The bitcoin return compare to the rate of return form the others investments instruments namely exchange rate, gold and stock. The study collected 120 data of each investments instruments: bitcoin, exchange rate, gold and stock from various of sources during 2011–2020. Then, we calculate the return and risk of individual investment instruments. The results showed that the bitcoin currency had the highest rate of return 18% with a standard deviation of 61% compared to exchange rate, gold and stock returns. While the rate of return for the others investment instruments showed less than 0.5% with standard deviation less than 5%. The rate of return bitcoin has significance difference compare to the rate of return of exchange rate, gold and stock. The study contribute for the investors who would like to invest on bitcoin. The investors should understand the characteristic of bitcoin in term of rate of returns and also the risk. This study also contributes to government of Indonesia on crypto currency development. The Indonesia government should adopt and regulate on crypto currency in the future to secure the investor and economic growth.

PENGARUH PENGETAHUAN PASAR MODAL, PERSEPSI RISIKO INVESTASI, PENGGUNAAN TEKNOLOGI TERHADAP PERILAKU MAHASISWA BERINVESTASI DI PASAR MODAL (Studi Empiris pada Galeri Investasi di Purwokerto)

This study aims to determine and analize effect of capital market knowledge, risk investment perception and use of technology towards the student’s investing behavior in the capital market. The population is the student’s who are members of the Investment Gallery Universitas Jenderal Soedirman and Islamic Investment Gallery Universitas Muhammadiyah Purwokerto. The sampling method used is purposive sampling. The data sample was obtained as many as 143 respondents. The result of this research indicates that capital market knowledge has a positive impact to the student’s investing behavior in the capital market, risk investment perception and use of technology have no impact to the student’s investing behavior in the capital market. Implication of the research is the most basic student’s must have as the investor. Investors need a basic understanding of the capital market, stocks as an investment in the capital market and rate of returns. Knowledge will support skills in analyzing, choosing and making a decision.

A Study of Life Internal Rate of Return

Life insurance, not included as a part of the legal obligation in some countries, is one of the investment approaches that might not stand high in the public favor for some people since this is a type of investments that the investor cannot know beforehand the exact return, and the returns completely depend on uncertainty of the policy specification in some circumstances. Similar to the other kinds of investment, investors in life insurance products have been seeking a tool for investment evaluation. However, currently there are no accurate tools that can provide the value of the investment in a life insurance product sensitive to the uncertainty. Internal rate of return is the basic tool that buyers or bankers may apply in order to find the rate of return of this type of investment. The investment decision tool is one of the most important keys that investors have utilized upon making their decisions on investments. Therefore, in this research, we propose a new mathematical model with applications for investment decision, being an extension of the internal rate of return by taking into account the life probability, considering different types of life insurance policies, and other factors specified on life insurance investments such as the premium, the death benefit, the maturity value, the sum insured, the lapse rate, the surrender value, the annuity certain, and the lapse rate with different genders and ages. This newly proposed model is named as the "Life Internal Rate of Return" or Life-IRR model. By using the sample data for both males and females aged 30 years old with expected benefit of 100,000 baht for different types of life insurance policies which are endowment plan, whole life plan and retirement plan, the results show that, for males, the highest life rate of returns is that obtained from the retirement plan (3.633692%), and the lowest life internal rates of returns is that obtained from the endowment plan (2.384443%), while the whole life plan offers moderate life rate of returns of 2.427941%. For females, the highest life rate of returns is that obtained from the retirement plan (3.335189%), and the lowest life internal rates of returns is that obtained from the whole life plan (2.104658%), while the endowment plan offers moderate life rate of returns of 2.308062%. The sensitivity analyses of the life internal rates of return perform the natural characteristics of life insurance.

Estimating the economic return to education in Ghana: a gender-based perspective

PurposeThe increasing rate at which individuals, especially, females in Ghana are seeking higher education calls for an estimation of the returns to schooling and education in Ghana.Design/methodology/approachThe study employs the Mincer equation to a representative cross-sectional micro-data from Ghana using OLS and instrumental variable (IV) methodologies. The paper uses spouse's education as instruments in the IV estimation.FindingsReturn to schooling was found to be higher for females than males, likewise, membership of an old student associations and location of the household. Returns to education increases as the level of education rises whilst the rate of returns initially increases but fall as labour market experience rises. The study also found that the rates of return to education were higher for Christian, followed by Muslim and believers of other lesser-known religion in Ghana.Research limitations/implicationsReturn to schooling was found to be higher for females than males. Likewise, individuals who are members of an old student association and are in urban areas were found to have a higher return to schooling than individuals who are not members of an old student association and are in rural areas. Returns to education increases as the level of education rises whilst the rate of returns initially increases but fall as labour market experience rises. The study also found that the rates of return to education were higher for Christian, followed by Muslim and believers of other lesser-known religion in Ghana.Practical implicationsWage determination process is different for males and females, across religion and residency. The higher returns to schooling for females imply education is a good investment for women and girls and should be a development priority.Social implicationsThe higher returns to schooling for females imply an investment in girl's education should be a development priority.Originality/valueThe paper extends the existing literature by focussing on the role of religion, old student's association (alma mater) and gender on the differential earning returns to schooling.

Earnings and Investment Differentials Between Migrants and Natives: A Study of Female Street Vendors in Bengaluru City

This article explores whether there exists any difference in the earnings of self-employed migrant and native street vendors in a metro city, and if so, in what ways this difference is prominent. In order to accomplish the objective, we have collected data from women street vendors from Bengaluru city. The results depict that although there is no significant difference in the earnings between native and migrant street vendors, a significant difference exists in the size of investments made by them, that is, to earn the same amount of income, migrants need to invest more than natives. Moreover, the results, based on the Oaxaca–Blinder decomposition method, indicate that the pre-labour market endowment factors do not make a significant contribution to the overall difference in the rate of returns. The difference, instead, mainly exists because of the coefficient differences, which can be attributed to discrimination.

INVESTMENT RISK MANAGEMENT BASED ON QUOTATIONS OF OIL COMPANIES, OIL AND DOLLAR

With the non-random movement of the prices of exchange trading objects in mind, by means of the methods and tools of chaos theory, it is possible to show that price changes are subject to the laws of deterministic chaos. This is a new look at this subject compared to the statistical methods that have been used for years, which in most cases assume that the distribution of the rate of returns of the examined series is normal. The aim of the study is to determine the nature of the changes in oil, dollar and Polish fuel prices: whether they are random or determined. In addition, the second aim is to investigate the cause and effect relationship between the price changes of the above-mentioned stocks. Tools such as rescaled range analysis, mean and variance stability analysis and technical analysis will be used. Conclusions resulting from the examination of the three indicated values should be interesting for capital market participants. The article ends with a short-term forecast for WIG-oil&gas.

Economic analysis of two giant land snail marketing in Ibadan, Oyo State, Nigeria

The study examined the marketing and uses of two species of Giant African Land Snails (Archachatina marginata and Achatina achatina) in four (4) different market locations in Ibadan Oyo state, Nigeria. The data were collected using a structured and validated questionnaire administered interpersonally to 160 snail marketers in four randomly selected markets in selected Local Government Area (LGA) situated in Ibadan. Data collected were analysed using descriptive and inferential statistical tools; these include frequencies, mean, median, mode and multiple regression. Findings from the socioeconomic characteristics revealed that majority (98.1 %) of the respondents were female and only 1.9 % were male. Majority (91.9 %) of marketers were married with 27.5 % in the 31–40 years age group. Majority (89.4 %) raised their capital through personal savings and had over 16 years of marketing experience. All respondents (100 %) were involved in wholesale marketing of different species of snail whereas 65 % of them were into both wholesale and retail marketing. Also, 88.8 % were engaged in marketing of both species only. Most (70 %) of the respondents’ generated income per year was between ₦10,000–₦49,999 ($26–$130). All marketers ascertained that the major purpose of snail is for consumption. Also, the budgetary analysis (costs and returns) revealed that marketing of Archachatina marginata and Achatina achatina is a profitable business among the marketers with a high rate of return on investment. The most efficient market for both snail species was Sango market with efficiency values 1.77 and 1.82 for A. achatina and A. marginata, respectively. The coefficient of multiple determination, R2 value of 0.689 indicated that 68.9 % of the variation in the marketing price of snail is explained by transportation cost, cost price of snail and market tariff. The marketing efficiency was greater than one in all markets which showed that the markets were efficient in the marketing of Archachatina marginata and Achatina achatina. The study concluded that snail marketing is profitable given the market efficiencies and rate of returns on investment. Policy recommendation towards reduction in cost of transportation and market tariff is suggested as this would bring about improved market efficiencies and more returns.