Analisis Mekanisme dan Penerapan Akad pada Pembiayaan Kepemilikan Emas:

Gold is becoming an attractive commodity as an investment option in the future. Gold is also an item with a high demand and many benefits ranging from asset protection, precautionary interests, Hajj savings needs, and investments. Islamic banks then see this potential by providing gold ownership financing products. The financing of gold ownership can be accommodated by Islamic banks. Purchases with the installment method can be done and become an alternative way for people to be able to invest in gold commodities. Gold becomes attractive on the basis of the consideration that gold is an object that has a value that tends to be stable so that it can be useful as a protector of property from the risk of inflation. This study uses qualitative research with a qualitative descriptive approach. The data collection technique used is the interview and documentation method. Interviews were conducted with BJB Syariah Bank Pajajaran Branch. The results showed that the mechanism and application of the contract on gold ownership financing products at the Pajajaran branch of BJB Syariah Bank generally involved third parties as suppliers who provided goods in the form of gold which became the object of the transaction. The contracts used in this product are Murabahah and Rahn contracts, Murabahah contracts for gold ownership financing products at Bank BJB Syariah Pajajaran Branch, namely for buying and selling gold between customers and BJB Syariah banks with agreed agreements and margins. While the rahn contract is for storing gold until a predetermined time. Keywords: Gold Ownership Financing, Murabahah Contract, Rahn Contract

Review of Cash Flow Statement of Selected Companies of Steel Industry (Tata Steel and Sail)

The main objective of this study is to assess the ability of the enterprise to generate cash and cash equivalents of the industry. The researcher has selected two companies on the basis of the judgemental sampling method and the researcher has used for the data analysis like mean, trend analysis, and pair “t” test. The researcher has found out the review of the cash flow statement of TATA Steel and SAIL shows the cash inflow and cashes outflow of both the companies, which represents similar solvency and liquidity of both the companies. Thus, investors can invest in both companies because both companies have a sound cash position. So, it should be easy to identify the best investment option for investors. The cash flow statements of the selected two industries of steel sectors have been analysed using different parameters. The selected steel industries are TATA Steel and Steel Authority of India Limited (SAIL). The comparative evaluation of the cash flow statement describes the various variables of cash inflows and outflows of cash of both the industries and the similarity in inflows and outflows of cash. There are 12 variables that were very similar and the data of both the industries were available for the study period. From the analysis, it is concluded that both industries have more similarities in the cash inflow and cash outflow of cash flow statement.

A Study on the Behaviour of Investors and their Risk-Return Perception with Special Reference to Salem City

This project coins about The Indian investment market. Investment is actually an asset that's created to permit money to grow. The wealth created can be used for a variety of objectives such as situations. Investing would be different things to different people. While investing for a few people mean fixing money to realize a profit, for a few others it also can mean investing time or effort for a few future benefits like investing in one self’s skills or health. Investment helps to channel household savings to the corporate sector, which is utilized to develop the industrial and service sectors and their own use. Today, investors have several options of investment with different peculiarities matching their needs. The funds allocated by the investors to various investment avenues depend largely on the investment objectives perceived by them. Investment examination has become essential for any retail investor. The success of investments is totally dependent on the satisfaction of the investors during the post-investment period and investors’ confidence. The uncertainty of expected return may be a vital part of the investment option. The variations in returns from the expectations of the investors cause risk and therefore the subjective analysis of varied attributes helps for the avoidance of the danger. Theoretically, risk and return go hand in hand, i.e., the upper the danger, the more the return. However, the risk- return knowledge of the investors on different investments might be differing from each other. In this paper, an attempt is made to study the investors’ perception of risk-return of investment and to find the investor's investment pattern.

Significant financial ratios to assess the company's financial policy effectiveness

Subject. This article fixates on the financial ratios used to assess the financial policies of companies. Objectives. The article aims to form a base group of financial ratios enabling to measure the effectiveness of company's financial policy implementation. Methods. For the study, I used a correlation analysis, critical review of subject-matter literature, and the systems approach. Results. The article presents a set of financial ratios that can be used to assess the effectiveness of financial policy implemented by companies. Conclusions and Relevance. Taken in totality, the described financial ratios can serve as an objective information basis to assess the effectiveness of companies' financial policies. The findings can be useful for company management to evaluate the financial policy, for investors to choose the best investment option, and for financial market participants.

Methods of multi-criteria evaluation of economic efficiency of investment projects

In the context of globalization and fierce competition in world markets, the high level of investment activity in the country is a key to economic and innovative development. The high level of wear and tear of fixed assets in developing countries gives special relevance to solving the problem of attracting investments for production development. Hence, for the investment management system choosing an optimal variant among several available investment projects is one of the most responsible stages of ensuring the stable operation and sustainable development of an enterprise. In this regard, the aim of the article is to develop a comprehensive multi-criteria approach to choose the best investment option. The article analyzes the existing methodological approaches to assess the economic efficiency of the investment projects, identifies their advantages and disadvantages. A multi-criteria method of investment project evaluation is proposed, which is characterized by the absence of restrictions on the number of individual evaluation indicators and the possibility for the investor to determine the significance of every indicator using weights independently. The use of the proposed methodology by enterprises will improve the quality of management decisions at the stage of choosing the optimal investment option.

MUNICIPAL SOLID WASTE: REVERSE LOGISTICS PERFORMANCE DETERMINES OPPORTUNITY COST OF BULK TIPPING

The opportunity cost concept refers to quantifying the opportunities lost upon choosing one investment option over a more economical alternative. The present study applies the concept to the process of choosing the best investment option for managing municipal solid waste. In a case study in Brazil, the options on the table are bulk collection and tipping versus reverse logistics with selective collection and sale of recovered components. The use of relative monetary values renders the results general and applicable in other scenarios. The bulk tipping option represents the reference cost of 100. The research postulates a linear relation between the opportunity cost of bulk tipping (y) and the efficiency of reverse logistics operations (x). Zero efficiency means bulk collection and tipping of all waste. Full efficiency means capture of all recyclable items, which in the case study amount to 80% of waste. Various intermediate points confirm the relationship that takes the form y=0.968x. The result shows that opportunity cost is dynamic in as much as changes of technologies and administrative procedures move it along that line. It also illustrates to municipal administrations the immediate economic effect of implementation and stepwise improvement of reverse logistics.

Performance of Mutual Funds: A Comparative Study of Prominent Multi Capital and Large Capital Funds

The purpose of this paper is to compare the performance of prominent multi capital and large capital funds. We examine the performance of 10 prominent funds under both the selected categories has been analyzed during the period of study from 2013 to 2018. Their performance has also been compared against two most diversified benchmark indices of India such as BSE 200 and Nifty 500. We have also attempted to find out whether there is any considerable difference in the performance of the two categories of funds or not. To do so, we employ One-way Analysis of Variance (ANOVA) for the comparison of mutual funds as an econometric methodology for a period of study from 2013 to 2018 for a sample of 20 Indian mutual funds. From the empirical findings, we find that the mutual fund schemes under both the categories such as Multi Capital Funds and Large Cap Funds have generated good returns over the period and that too with a reasonable risk. Therefore, it is very safe to conclude that they are good investment option for an investor. In terms of performance of these mutual funds, the average monthly returns generated by the funds in each category are numerically different, but this difference has not been found statistically significant. At the same time, there is no significant difference between these funds and NIFTY 500 as well as these funds and BSE 200 in terms of their returns. JEL Codes: G32, G20, O16.