The Effect of COVID-19 Pandemic on Corporate Dividend Policy in Indonesia: The Static and Dynamic Panel Data Approaches

This research examines the effect of the crisis due to the COVID-19 pandemic on dividend policy in Indonesia. The purposive sampling method was used to collect data from corporates listed on the IDX from 2014 to 2020 and analyzed using static and dynamic panel data approaches. The fixed-effect models (FEM) were selected for the static panel data regression. Meanwhile, the first difference-generalized method of moments (FD-GMM) and system-generalized method of moments (SYS-GMM) were used for determine the robustness of the estimated dynamic panel data. The results showed that the crisis due to the pandemic led to higher dividend distribution on SYS-GMM. Furthermore, companies maintained the dividend level as a positive signal for investors which lifted the sluggish trade condition in the capital market. Profitability and previous year dividends positively affect dividend policy robustly. Furthermore, the results showed that age affects dividend policy on FD-GMM. Financial leverage has a robust effect, and firm size has an effect on FD-GMM in different directions, while investment opportunity does not affect dividend policy. Statistically, the FEM selected that violates the best linear unbiased estimation was proven to form parameters that were not much different from the estimates produced by the dynamic model, both from the coefficient of influence direction and significance, and the omitted variable bias occurs as evidenced in the robust test with dynamic model was solved. This research is also used as a reference for considering investors’ investment decisions in the new normal condition. Therefore, dividend policy can be considered as a positive signal to investors with the ability to stock trading activities in the capital market.

Variation of the Descriptive Grain Size Distribution Along Cores From the Sebkha of Sidi El Hani, Eastern Tunisia

In this chapter, cores were the object of descriptive classifications of the grain size distribution, which were meant to describe the grain size continuous variability within cores and to correlate between them. The statistical treatment of the crude data was done on the basis of two different methods (the method of moments statistics and the method of inclusive graphic statistics) to compute statistical parameters of the grain size distribution such as mean and median. The correlations between cores were done on the basis of sand/silt/clay percentages. Even though it has given special care to test different methods of studying the grain size distribution, this study has not deviated from its primary purpose of investigating the filling of the playa; correlations between different cores were meant to infer their sedimentary dynamics.

Tác động của tăng trưởng cho vay bất thường đến rủi ro ngân hàng thương mại Việt Nam

Nghiên cứu này nhằm đánh giá ảnh hưởng của tăng trưởng cho vay bất thường đối với rủi ro của ngân hàng Việt Nam, sử dụng dữ liệu bảng cân bằng, bao gồm 390 quan sát của 30 ngân hàng từ năm 2007 đến năm 2019. Bằng phương pháp hồi quy gộp (Pooled OLS), mô hình hiệu ứng cố định (Fixed effects model), mô hình hiệu ứng ngẫu nhiên (Random effects model) và phương pháp GMM (Generalized method of moments. Kết quả cho thấy, tăng trưởng cho vay bất thường bước đầu đã giúp các ngân hàng giảm bớt rủi ro. Tuy nhiên, mối quan hệ này là hình phi tuyến tính và không đồng nhất. Kết quả cho thấy, việc theo đuổi cho vay quá nhiều có nhiều khả năng dẫn đến việc ngân hàng phải chấp nhận rủi ro lớn hơn. Từ kết quả nghiên cứu bài viết đưa ra một số gợi ý nhằm hạn chế rủi ro ngân hàng đó là việc theo đuổi cho vay quá nhiều có nhiều khả năng dẫn đến việc ngân hàng phải chấp nhận rủi ro lớn hơn.

MODELING THE ANTENNA INPUT IMPEDANCE BY THE METHOD OF MOMENTS

The paper presents a comparison of excitation source models when modeling antennas by the method of moments. By using a set of adjacent edges when specifying the impact, it is possible to obtain correct results when the computational grid of the antenna model is more frequent. This is shown on the example of a symmetric electric vibrator.