A Critical Review on The Job Creation Omnibus Law-Forming Process

This study aims to conduct a critical study of the process of formulating the "omnibus law" on job creation from the perspective of legal politics and good governance through a normative method using a conceptual and statute approach and utilizing secondary and primary legal materials which are then critically analyzed through prescription. The results of this study ultimately conclude that from a legal political perspective, the process of forming this law is very problematic and procedurally flawed. In addition, this law is a response from policymakers who are political in nature to a complex situation which in fact creates complex derivative problems as well. This is inseparable from the nature of the omnibus law itself, which lacks democracy, participation, reduces accuracy and prudence in its preparation, and has the potential to exceed the provisions in the constitution. Therefore, based on the good governance point of view, the process of forming the Omnibus Law on Job Creation has not fulfilled the principles of good governance in the form of the principles of legitimacy, transparency, accountability, responsiveness, and the rule of law. The principles of effectiveness and efficiency in the principles of good governance in this Law can still be considered

Chaos control in six-dimensional power system via adaptive synergetic approach

In view that researchers only control some low-dimensional chaotic power system models, this paper aims at controlling chaos in a complex six-dimensional power system model. By introducing the dynamic model of an energy storage device and static synchronous compensator, an adaptive synergetic control scheme is proposed for the model to suppress its chaotic oscillation. Since the designed controller will inevitably contain complex derivative terms of a controlled power system according to the conventional controller design process, a novel adaptive synergetic control scheme is proposed. The presented adaptive controller for the chaotic power system can completely suppress its chaotic oscillation. The prominent advantages of the proposed control scheme are that it can avoid complex derivative terms of the controlled system and can avoid chattering as in the sliding mode control method. Simulations validate the effectiveness and robustness of the proposed scheme.

The Issues and Improvement Plans of Pricing and Accounting of the Structured Derivatives : The Case of Zero-Coupon Callable Bond

This study aims to deal with the valuation and accounting of complex derivative instruments. This study attempts to propose a convergence plan by presenting a pricing (fair value evaluation) alternative that considers the accounting process. In this paper, we choose a ZCCB as a representative structured derivative and conduct a case study. Regarding the expected maturity of ZCCB, there is a need to adjust the historical expected maturity by reflecting the implied expected maturity. As a result of simulation and empirical analysis, it can be seen that the greatest feature of the expected maturity distribution is the Bi-Modal distribution redeemed immediately after the non-call period or at the maturity of the ZCB. Therefore, when using expected maturity, it would be more meaningful to use ZCB maturity date or just after non-call period date rather than the average. Regarding whether ZCCB's SPPI test is satisfied, the ZCCB return rate is determined according to market input variables and bond issuance conditions and is already fixed at issuance, so it can be judged that the SPPI condition is satisfied.