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.

This study investigates the role of property quality in shaping booking intentions within the dynamic landscape of the hospitality sector. A comprehensive approach, integrating qualitative and quantitative methodologies, is employed, utilising Airdna’s dataset spanning from July 2016 to June 2020. Multiple regression models, including interaction terms, are applied to scrutinise the moderating role of property quality. The study unveils unexpected findings, particularly a counterintuitive negative correlation between property quality and booking intentions in Model 7, challenging conventional assumptions. Theoretical implications call for a deeper exploration of contextual nuances and psychological intricacies influencing guest preferences, urging a re-evaluation of established models within hospitality management. On a practical note, the study emphasises the significance of continuous quality improvement and dynamic strategies aligned with evolving consumer expectations. The unexpected correlation prompts a shift towards more context-specific approaches in understanding and managing guest behavior, offering valuable insights for both academia and the ever-evolving landscape of the hospitality industry.

This research aims to analyze the strategic role of the Islamic organizations Muhammadiyah and Al-Washliyah in the electoral dynamics of North Sumatra. The background for this study stems from the significant influence these organizations hold in the social, educational, and political spheres of the region, leveraging their extensive membership base and organizational structure. The urgency of this research arises from the need to understand how religious organizations shape political outcomes, which is crucial for developing more inclusive governance strategies. Employing a qualitative descriptive methodology, this study explores how these organizations mobilize support during elections and influence policies through their educational and social programs. Findings reveal that Muhammadiyah and Al-Washliyah effectively utilize mass mobilization and social movement theories to maintain their influence in the political landscape of North Sumatra, subtly navigating and shaping local politics through strategic engagement and advocacy.

This research aims to assess the impact of bargaining power on budget implementation while also considering the deviation in capital expenditure as a moderating factor. The research sample included 34 provincial governments in Indonesia between 2019 and 2022. The sample determination method used purposive sampling, so the final sample size was 134 observations. The research employed panel data regression to test the hypotheses and continued with the Chow, Lagrange multiplier, and Hausman tests. The study results indicate that bargaining power has a positive and significant effect on budget implementation, with the deviation in capital expenditure not diminishing its impact. The research’s practical implication is that regional governments must effectively manage their revenues to finance regional spending needs through regional tax intensification and extensification policies. The study contributes to signaling theory by highlighting that regional governments can finance regional spending needs through fiscal independence and society’s involvement. It also contributes to agency theory by demonstrating that capital expenditure deviation in the form of information asymmetry in regional governments does not reduce their ability to finance regional expenditure needs. Nonetheless, the study suggests that the proxies used in this research are limited, and further exploration of other proxies to measure tested variables. This research provides new knowledge for stakeholders regarding the dynamics of regional budgeting, especially regarding assessing the impact of bargaining power on budget implementation and considering deviations in capital expenditure as a moderating factor.

Many questions of control theory are well studied for systems which satisfy to the relative degree definition. If this definition is fulfilled then there exists linear state-space transform reducing system to a very convenient canonical form where zero dynamics is a part of system’s equations. Algorithms of such reduction are well-known. However, there exist systems which don’t satisfy this definition. Such systems are the subject of investigation in the presented paper. To investigate their properties here we suggest to consider an analogue of the classical relative degree definition – the so-called column-wise relative degree. It turned out that this definition is satisfied in some cases when classical relative degree doesn’t exist. We introduce this notion here, investigate it properties and suggest algorithm for reducing systems to the column-wise relative degree compliant form if possible. It is possible to show that systems with column-wise relative degree also can be reduced to a convenient canonical form by a linear state-space transformation. Some problems arise from the fact that some systems which do not have relative degree can be reduced to a form with it using linear inputs or outputs transform. Here we show that this is an interesting mathematical problem, which can be solved with the help of properties of relative degree, formulated and proved in this paper.

Hybrid nanofluids have several potential applications in various industries, including electronics cooling, automotive cooling systems, aerospace engineering, and biomedical applications. The primary goal of the study is to provide more information about the characteristics of a steady and incompressible stream of a hybrid nanofluid flowing over a thin, inclined needle. This fluid consists of two types of nanoparticles: non-magnetic nanoparticles (aluminium oxide) and magnetic nanoparticles (ferrous oxide). The base fluid for this nanofluid is a mixture of water and ethylene glycol in a 50:50 ratio. The effects of inclined magnetic fields and joule heating on the hybrid nanofluid flow are considered. The Runge-Kutta fourth-order method is used to numerically solve the partial differential equations and governing equations, which are then converted into ordinary differential equations using similarity transformations. Natural convection refers to the fluid flow that arises due to buoyancy forces caused by temperature differences in a fluid. In the context of an inclined needle, the shape and orientation of the needle have significantly affected the flow patterns and heat transfer characteristics of the nanofluid. These analyses protest that raising the magnetic parameter results in an increase in the hybrid nanofluid thermal profile under slip circumstances. Utilizing the potential of hybrid nanofluids in a variety of technical applications, such as energy systems, biomedicine, and thermal management, requires an understanding of and ability to manipulate these effects.