The initiation of tapering, sparked by heightened inflation in the United States, reverberates across global markets, with notable implications for Indonesia. This study delved into the nuanced impact of tapering on Sharia-compliant stocks in both Indonesia and Malaysia. The rationale behind selecting Sharia stocks for analysis lies in their composition, featuring companies boasting low debt-to-asset and equity ratios, thereby positing robust resilience in the face of the Federal Reserve’s implementation of tapering. Employing a time series dataset with a weekly sampling period spanning from January to September 2022, the analysis adopted the Error Correction Model (ECM) within a multiple regression framework to circumvent potential spurious regression pitfalls. The results of this study indicate that the impact of tapering off policy in Indonesia has a positive impact in the short term and long term, while in Malaysia it tends to be insignificant in the short term and has a positive impact from the US 10-year bond yield variable and a negative impact from US 1-Year Treasury Bills. This result is interesting because it differs from the general theory. The causal factors include the agility of the Indonesian central bank in maintaining the benchmark interest rate spread with the Fed, the economic stability of both countries, and the increasing trend of coal, with Indonesia being one of the largest producers of the commodity. Investors, in navigating these intricate dynamics, may find strategic insights derived from this research invaluable for shaping their investment decisions. while government policymakers may use them as a reference for shaping policies related to Sharia stock investments, including the incorporation of artificial intelligence.

Indonesia, an emerging archipelagic nation, possesses abundant natural resources spanning marine, land (including forests and water sources), and diverse biological riches. The agricultural sector emerges as a pivotal driver of growth across the country, exhibiting extensive distribution. Consequently, there is an urgent imperative for comprehensive research to bolster and optimize the performance of this sector. This study aims to meticulously analyze and scrutinize macroeconomic variables aimed at enhancing Indonesia’s agricultural sector. Through the utilization of a dynamic panel model, the study zeroes in on crucial variables: economic growth in the agricultural sector, farmer terms of exchange, human development index, population density, inflation, average daily wages, and lagged economic growth data from each province in Indonesia. The best model for dynamic panel testing, employing both First Difference Generalized Method of Moments (FD-GMM) and Generalized Method of Moments System (SYS-GMM) approaches, is identified as the SYS-GMM model. This model exhibits unbiased and consistent estimation, as evidenced by the Arellano-Bond (AB) test and Sargan test results. The analysis conducted using this selected model reveals notable findings. Lagging agricultural sector performance, human capital measured by the Human Development Index (HDI), and farmers’ exchange rates are found to significantly and positively influence the economic growth of the agricultural sector. Conversely, inflation exerts a significant and negative impact on sectoral growth. However, wage levels and population density do not demonstrate a significant partial effect on the economic growth of the agricultural sector.

Divorce for female civil servants in Indonesia is more complex than for non-civil servants due to a pseudo-administrative process. This condition requires submitting a written application for divorce permission to their agency and proceeding through multiple lengthy stages. During this process, women must verbally disclose sensitive personal details to state authorities. Failure to obtain written permission or to report the divorce within a specific period can result in disciplinary action. This paper examines how female civil servants protect their privacy while seeking divorce permission, focusing on managing personal information, controlling divorce-related details at work, and handling the information turbulence that arises. The researcher collected data from 12 female civil servants at Indonesia’s Directorate General of Taxes (DGT) who had applied for divorce permission. The findings reveal the subjective experiences and strategies women civil servants use to manage sensitive personal issues. The quasi-administrative nature of the divorce permit process introduces complexities that extend beyond formal procedures. Regulations governing the submission of divorce permits, overseen by government agencies, often add to the burden these women face, neglecting their privacy and psychological well-being. Impartial individuals and gender preferences in the verification team can exacerbate distress. Therefore, revising the divorce permit regulations to enhance privacy and sensitivity is crucial. The study recommends early information about the process and communication training for maintaining privacy.

Illegal, unreported, and unregulated fishing (IUU fishing) crimes by rogue fisheries companies are rife in the sea waters of Riau Province. However, this issue is rarely reported by those provincial journalists in the online media where they work. In fact, in Riau, there are 163 online media companies and 600 competent journalists; 200 of them live in capture fisheries center areas. Apart from the journalist competency factor, the decision to make IUU fishing news can also be influenced by the fisheries company intervention that committed the crime. Besides, the policy role of media leaders—editors, editors-in-chief, and media owners—also determines journalists’ decisions to make those news stories. This research aims to analyze the influence of journalist competence and fishing company intervention on the decision to make IUU fishing news, as well as the role of media leader policy as mediators in these influences. This survey involved 100 competent journalists as respondents. Data collection was carried out through a questionnaire containing a number of closed statements measured on a 5-point Likert scale, which was distributed to respondents. The data were analyzed using the Structural Equation Modeling (SEM) method. The research results show that the fishing company intervention has a negative and significant influence on the decision to make IUU fishing news in Riau, while journalist competence does not. Additionally, media leader policy was found to play a significant role in mediating the influence of fisheries company intervention and journalist competence on the decision to make IUU fishing news. The leader policy could prevent journalists from making IUU fishing news if fisheries companies, who are responsible for those crimes, intervene and request it. Those actions of media leaders need to be questioned because they can hamper the media’s function as a means of disseminating information, educating the public, and implementing social control, especially those related to combating IUU fishing crimes.

Catastrophes, like earthquakes, bring sudden and severe damage, causing fatalities, injuries, and property loss. This often triggers a rapid increase in insurance claims. These claims can encompass various types, such as life insurance claims for deaths, health insurance claims for injuries, and general insurance claims for property damage. For insurers offering multiple types of coverage, this surge in claims can pose a risk of financial losses or bankruptcy. One option for insurers is to transfer some of these risks to reinsurance companies. Reinsurance companies will assess the potential losses due to a catastrophe event, then issue catastrophe reinsurance contracts to insurance companies. This study aims to construct a valuation model for catastrophe reinsurance contracts that can cover claim losses arising from two types of insurance products. Valuation in this study is done using the Fundamental Theorem of Asset Pricing, which is the expected present value of the number of claims that occur during the reinsurance coverage period. The number of catastrophe events during the reinsurance coverage period is assumed to follow a Poisson process. Each impact of a catastrophe event, such as the number of fatalities and injuries that cause claims, is represented as random variables, and modeled using Peaks Over Threshold (POT). This study uses Clayton, Gumbel, and Frank copulas to describe various dependence characteristics between random variables. The parameters of the POT model and copula are estimated using Inference Functions for Margins method. After estimating the model parameters, Monte Carlo simulations are performed to obtain numerical solutions for the expected value of catastrophe reinsurance based on the Fundamental Theorem of Asset Pricing. The expected reinsurance value based on Monte Carlo simulations using Indonesian earthquake data from 1979–2021 is Rp 10,296,819,838.

The Government of Indonesia has modernized the toll road transaction system by implementing the multi-lane free-flow (MLFF) project, set to operate commercially by the end of 2024. This project leverages Global Navigation Satellite System (GNSS) technology to identify vehicles using toll roads and establish a transaction mechanism that allows the MLFF Project Company to charge road users according to distance, vehicle category, and tariff levels. The project has result in a complex business arrangement between the Indonesia National Toll Road Authority (INTRA), Toll Road Companies (TRCs), and the MLFF Project Company. The aim of this paper is to review the regulatory and institutional framework of the MLFF project and analyze its challenges. The methodology employed is a qualitative framework for legal research, utilizing international literature reviews and current regulatory frameworks. The study assesses the proposed transaction architecture of the project and identifies commercial, political, and other risks associated with its implementation. Based on the analysis, the research identifies opportunities for regulatory improvements and better contracting arrangements. This research provides valuable insights into the regulatory landscape and offers policy recommendations for the Government to mitigate the identified risks. This contribution is significant to the academic field as it enhances understanding regulatory and institutional challenges in implementing advanced toll road systems.