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"Litter production is one of the major nutrient enrichments in a mangrove forest. Investigation on nutrient components in litter will lead to evaluation of nutrient accumulation. Therefore, this research aimed to 1) evaluate litter production in tropical mangrove forest at Klong Khone, Samut Songkhram province, Thailand; 2) investigate carbon, nitrogen and phosphorus contents in litter; and, 3) observe sediment quality and existing mangrove condition in the study area. Litter and sediment were collected at Klong Khone, Samut Songkhram province in September-October 2015. Litter samples were analyzed for biomass production, and composition of carbon, nitrogen and phosphorus. Sediment samples were analyzed for pH, salinity, water content, grain size composition, organic carbon, total nitrogen and total phosphorus. Results showed that leaf, branch, and fruit litter production were 65.02, 47.94 and 19.03 g DW/m2/month, respectively. Carbon, nitrogen, and phosphorus content in the litter were 20.36, 0.37 and 4.47 mg/g DW leaf litter, respectively. The value of pH, salinity and water content of sediment ranged from 6.66-7.50, 3.30-9.28 ppt and 52.24-69.65%, respectively. Sediment was composed of fine sand (0.125-1 mm) 7.68%, silt (0.06-0.125 mm) 6.13%, and clay (smaller than 0.06 mm) 86.19%. By using statistical analysis (t-test), results showed no difference of all parameters between months. However, during the research, it was found that organic carbon decreased 2.37 mg C/g DW sediment; meanwhile nitrogen and phosphorus increased 0.44 mg N and 0.12 mg P /g DW sediment, respectively. Finally, carbon, nitrogen and phosphorus accumulation by litterfall were found to be 1877, 34 and 734 mg/m2/month, respectively. These results will help in clarifying nutrient dynamic pathway by mangrove trees which play an important role in coastal and estuarine ecosystem restoration."

"Tujuan utama penelitian ini adalah menganalisis dampak manajemen modal kerja terhadap kinerja perusahaan dan nilai perusahaan pada perusahaan manufaktur terpilih di Indonesia dan Thailand. Data sekunder untuk penelitian berasal dari Bursa Efek Indonesia dan Bursa Efek Thailand. Database 216 perusahaan dipilih untuk periode sepuluh tahun dari 2008-2017. Penelitian ini mencakup analisis empiris untuk memeriksa apakah manajemen modal kerja yang lebih efisien meningkatkan profitabilitas perusahaan dan nilai perusahaan. Cash Conversion Cycle menjadi alat ukur untuk menghitung efisiensi manajemen modal kerja. Ada dua pengukuran kinerja dalam penelitian ini, Tobin's Q digunakan sebagai indikator nilai perusahaan, sementara itu, ROA (Return On Asset) digunakan sebagai indikator profitabilitas pada perusahaan manufaktur. Penelitian ini menggunakan data panel dan analisis regresi untuk menguji hipotesis. Hasil penelitian menunjukkan hal yang serupa bagi kedua negara bahwa terdapat pengaruh yang signifikan negatif antara Cash Conversion Cycle dengan profitabilitas perusahaan manufaktur baik di Indonesia maupun Thailand. Sementara itu, Cash Conversion Cycle terbukti tidak mempengaruhi nilai perusahaan baik itu di Indonesia maupun di Thailand.

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The main objective of this research to provide an analyze of the impact of working capital management on firms performance and firms value in selected manufacturing firms in Indonesia and Thailand. The secondary data was derived from Indonesia Stock Exchange and Thailand Stock Exchange. Database of 216 companies is selected for the ten-year period from 2008-2017. The research includes an empirical analysis to examine if more efficient working capital management improves firms’ profitability and firms’ value. Cash conversion cycle is the measuring tools to calculate the efficiency of working capital management. There is two performance measurement in this study, Tobin’s Q used for examined market valuation, meanwhile, ROA (Return On Asset) used as represent profitability on manufacture firms. This study used panel data and regression analysis to test the hypothesis. The results of the study show similar things for both countries that there is a significant negative effect between cash conversion cycle and manufacturing firm’s profitability in Indonesia and Thailand. Meanwhile, the cash conversion cycle proved to have no significant effect on firms’ value both in Indonesia and in Thailand."

"ABSTRAKPenelitian ini bertujuan untuk mengetahui faktor-faktor yang memengaruhi struktur modal perusahaan yang bergerak di bidang hospitality di Negara ASEAN-4 dan terdaftar di Bursa Efek masing-masing Negara selama periode penelitian yaitu tahun 2009-2017. Faktor-faktor yang diuji pengaruhnya terhadap struktur modal perusahaan adalah profitabilitas, ukuran perusahaan, tangibilitas aset, tingkat pertumbuhan, risiko saham, kondisi pasar, tingkat pajak, tingkat inflasi, rating dan populasi muslim. Estimasi model yang dilakukan dengan menggunakan metode Panel Least Square. Dari hasil regresi yang dilakukan profitabilitas, ukuran perusahaan, risiko, tingkat pajak, dan jumlah penduduk muslim memberikan pengaruh signifikan terhadap keputusan struktur modal.

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ABSTRACTThe aim of this study is to explore the impact of profitability, size, asset tangibility, growth, stock variance, stock return, tax rates, inflation, investment grade and muslim population toward capital structure of company in hospitality sector. Hospitality sector is highly prone to economic fluctuations and began booming with increasing affordability of overseas travel. This study seeks to examine the effect of several factors on capital structure in the period of 2009 to 2017. This panel least square is being employed in the model estimation. The finding reveals that only five factors play an important role in influencing capital structure of hospitality sector."