This study intends to improve job performance during the Covid-19 pandemic at startup companies in Indonesia. In this study, the variables tested were job satisfaction, job innovation, Indonesian culture control, and job performance. Increasing job performance is deemed necessary in facing the economic crisis caused by the Covid-19 pandemic. Job innovation, job satisfaction, and culture control are deemed necessary in improving job performance. The population of this study are managers of start-up companies in Jakarta, Banten, and West Java. This research data obtained by distributing questionnaires to startup managers. This is a quantitative study with primary data. The sample technique used was purposive sampling. Structural Equation Model using Partial Least Square statistical software was used to analyze data. The results of this study indicate a change in the pattern of work performed by startup companies in running their business. Before the Covid-19 pandemic, employees worked in offices for seven hours, but after this pandemic, they change work patterns, moving them to work from home. Working from home requires companies to exercise better control and leadership patterns so that employees can work comfortably.

At present, the payment system in Thailand changes from a paper-based system to a cashless payment system. A coin has its two sides, so the cashless payment has its advantages and disadvantages. This article describes the general advantages and disadvantages of a cashless society in Thailand in the COVID-19 situation. The cashless payment in Thailand consists of credit cards, automated teller machines, direct debit, mobile/Internet banking, e-Wallet, PromptPay, and QR code. The cashless payment is able to assist the government for tax collection accuracy and facilitates users to make financial transactions more transparent and efficient. In addition, the cashless system provides benefits to businesses in which they are able to increase sales and expand business by providing convenient, safe and faster services to customers in making payment for goods/services. It assists businesses to save time and cost of cash management and reduce the paperwork. The cashless payment made the life of students, housewives, and elderly people very easy to carry out financial transactions and there is no need to meet the financial institution staff. This payment system needs advanced technology system skills, a smartphone, and a technology facility. Finally, the cashless payment can reduce the spreading of COVID-19.

Stability and sustainability of the biggest banks in any country are extremely important. When big banks become unstable and vulnerable, they typically stop lending. The resulting credit squeeze pushes the economy into recession or a slow growth path. The present study examines the financial stability and sustainability of the 30 large banks operating in the six Gulf Cooperation Council countries. These banks represent 70% of the GCC banking market. Monte Carlo simulation was attempted assuming that key drivers can vary randomly by twenty percent on either side of the current values. The conclusions are drawn based on 300 simulation trails of the five-year forecast balance and income statement of each bank. Year 2020 is not favorable for the GCC countries because of the COVID-19 pandemic and low oil prices, though the future years may be better. The study identifies several banks, which may become financially unsustainable because the simulations indicate the possibility of negative profitability, unacceptably low capital ratios and potential for heavy credit losses during periods of economic turbulence, which is the current situation due to the COVID-19 pandemic. Through simulation the paper is able to throw light on which factors lead to bank instability and weakness.

The implementation of physical or social distancing during the Covid-19 pandemic has an implication on the shifting of conventional to online business activities. This study aims to explore how financial support, perceived benefits, external pressure determine social media marketing as well as understanding the role of internet and e-business technology (IEBT) that occurs in this relationship. This study adopted a quantitative study with Structural Equation Modeling (SEM)-based variance Partial Least Square (PLS), which aims to enhance understanding of the relationship between variables. The surveyed population of this study came from 123 small- and medium-sized enterprise (SME) owners in East Java of Indonesia, using an online survey and selected with the convenience random sampling method. The findings of this study indicated that the perceived benefits and external pressure have a positive effect on the adoption of IEBT. However, financial support failed in explaining SMEs’ adoption of IEBT. This study confirmed that the adoption of IEBT has successfully mediated the influence of financial support, perceived benefits, and external pressure on social media marketing. Despite the samples solely collected from East Java, this study is the first step in research related to the social media marketing in SMEs in Indonesia.

This study aims to assess the impacts of COVID-19 on International Financial Reporting Standards (IFRS), because of the problems associated with changing and amending the financial reports according to the policies established based on the circumstances of the epidemic. The study sample targeted several international financial reports that were amended based on epidemic conditions. The revised financial reporting period provides standardized reporting procedures for financial transactions worldwide despite the pandemic. Therefore, IFRS has been used to reduce challenges in financial reporting by monitoring the duration of social distancing while reporting matters to eliminate confirmed uncertainty and judgment. After analyzing the data obtained through global search engines, the results conducted provided evidence that COVID-19 affects financial reporting in companies around the world. Therefore, companies face difficulty reporting finances based on the challenging environment that the pandemic represents. Besides, IFRS fair value measurements consider the prices that were predicted according to current market values. The contexts of the changing the standards by IFRS to curb the effects of the COVID19 financial reporting was attained through evaluation of the online files that were randomly selected and filtered to obtain valid data.

This study aims to investigate the effects of restrictions in economic activity on the spread of COVID-19 in the Philippines. This research employs daily time-series data of confirmed new COVID-19 cases, Apple mobility trends (i.e., use of public transport to destinations, volume of people driving, and amount of walking to destinations) and Google community mobility (i.e., visits to transit stations, visits to workplaces, and staying-at-home) indicators covering the period February 17 to September 11, 2020. The analysis starts by establishing the correlation pattern of new confirmed COVID-19 daily infections to each independent variable. The results show negative linear correlation of the number of new COVID-19 daily infections with less visit to transit station, increase stay-at-home, less use of public transport, and less amount of walking to destinations. Interestingly, the number of new COVID-19 daily infections indicates some form of positive linear correlation with visits to workplaces and volume of people driving. Moreover, employing robust least square regression via the method of MM-estimation, major findings reveal that across mobility measures, staying-at-home has the highest impact on reducing the spread of COVID-19, followed by visiting transit stations less, less use of public transport, less amount of walking, and less workplace visits.

The COVID 19 pandemic has led to a new global recession and is still causing a lot of issues because of the delays in the employment of people. This scenario has severe consequences for many countries’ labor markets in the world. This problem’s complexity and importance requires an integrated method of subjective and objective evaluation rather than intuitive decisions. This research aims to investigate sustainable indexes for assessing the unemployment problem by using a Multi-Criteria Decision-Making Model (MCDM). Grey theory and Decision Making Trial and Evaluation Laboratory (GDEMATEL) are deployed to transform the experts’ opinions into quantitative data. The analysis based on 20 crucial criteria is employed to determine the weights of sustainability of unemployment problems. The results revealed that the top ten of determinants are Economic growth, Industrialization, Foreign direct investment, Real GDP per capita, Education level, Trade Openness, Capacity Utilization Rate, Urbanization, Employability skills, Education system expansion, which have the most significant effects on the unemployment rate under COVID 19 impacts. Furthermore, GDEMATEL could effectively assess the sustainable indicators for unemployment problems in “deep and wide” aspects. The study proposes the Grey MCDM model, contributes to the literature, provides future research directions, and helps policymakers and researchers achieve the best solutions to the unemployment problems under “economic shocks.”

This research is a literacy study regarding the implementation and management of the economic role of haria as a new strategy in overcoming the problem of the global financial crisis that has hit the middle of the COVID-19 pandemic. The research method comes from previous studies to compare the capitalist, socialist, and sharia economic systems. In response to various economic uncertainties, both internal and external, the ability to seize opportunities and transform has become the key to economic resilience. Islamic economics can be an alternative in responding to the dynamics of the global and national economy. Several things need to be taken into consideration in fulfilling the sharia economy and the primary strategy chosen must come from the inputs given by the stakeholders, including business actors, associations, regulators as well as experts, and academicians. The primary strategy in implementing the sharia economy also requires the support of various parties in order to develop sustainability. Strengthening regulation and governance is one of the fundamental factors. Optimization of the sharia economy based social sector such as Zakat, Infaq, Sadaqah, and Waqaf can be optimized both for collection and distribution so that the concept of sharing can certainly support the development and the economy both nationally and globally.

The purpose of the research is to analyze the behavioral intention to adopt social media in SMEs affected by the COVID-19 crisis, based on the TOE Model. This study uses the TOE framework as a theoretical basis. This research is important because COVID-19 has destroyed most of the SMEs, and SMEs are exposed to social media technology to market their products. The success of social media adoption has helped SMEs to be able to rise from adversity. Respondents in this study were 250 SMEs in the Special Region of Yogyakarta, Indonesia. The data analysis technique used is structural equation modeling with AMOS. The results of this study indicate that SMEs affected by the COVID-19 crisis have a high awareness of social media and have a high intention to adopt social media as a way to market their products and connect with customers. The intention to adopt social media is significantly influenced by the technological context, organizational context, environmental context, and social media awareness. The findings of this study suggest that in times of crisis due to the COVID-19 pandemic, the Government support is needed. The Government needs to open services for SMEs whose businesses are affected by the pandemic.

This study tests and analyzes the influence of empowering leadership on employee creativity which is mediated by psychological empowerment. Researchers conduct survey method on state-owned bank employees (ABC Bank) in Pacitan, East Java, Indonesia. Purposive sampling is selected with Likert scale as measurement. The population of this study is 166 respondents, who are permanent employees of the ABC Bank. The data analysis technique used is SPSS 24. The results of this study find that: (1) there is an influence of empowering leadership on psychological empowerment, (2) there is an influence of empowering leadership on individual creativity, (3) there is an influence of psychological empowerment on individual creativity, and (4) the influence of empowering leadership on individual creativity is mediated by psychological empowerment. This study ignores other types of leadership. Further study is needed to examine other types of leadership besides empowering leadership. The level of analysis of this study is individual, so further study could examine empowering leadership conceptualized at the group level because followers will be influenced not only by the dyadic relationship with the leader, but also by the dynamics of the members of the empowered group. This study provides theoretical enrichment from the aspect of empowering leadership, especially at the individual level. Leaders can increase employee creativity by empowering them to do their jobs. Additionally, by creating a work environment that ensures employees feel empowered psychologically.

This study aims to examine the effect of perceived usefulness (PU), perceived ease of use (PEU), trust (TR), subjective norm (SN), and attitude (AT) on customer’s Intention to Adopt Internet Banking (IAIB) at Islamic banks and conventional banks before and during the Covid-19 pandemic in Indonesia. The research model is based on the Theory of Planned Behavior (TPB) and the Technology Acceptance Model (TAM). This study involves 213 respondents for Islamic banks and 410 respondents for conventional banks from 25 provinces in Indonesia. Data was analyzed using partial least square (PLS) regression with the Structural Equation Model (SEM) method. The result of data analysis confirms several hypotheses taken from the literature. The results before the Covid-19 pandemic showed that AT and SN influence IAIB in Islamic banks. Whereas in conventional banks, AT, PU, SN, and TR influence IAIB. While during the Covid-19 pandemic, it shows that the AT, PU, IB, SN, and customer TR influence IAIB in Islamic banks and conventional banks. From the analysis, it was found that the PEU variable did not have a significant effect on the intention of customers of Islamic banks and conventional banks to use Internet banking.

Past literatures have not studied the impact of real-world events or information on the return and volatility of virtual currencies, particularly on the COVID-19 event, day-of-the-week effect, daily high-low price spreads and information flow rate. The study uses the ARMAGARCH model to capture Bitcoin’s return and conditional volatility, and explores the impact of information flow rate on conditional volatility in the Bitcoin market based on the Mixture Distribution Hypothesis (Clark, 1973). There were 3,064 samples collected during the period from 1st of January 2012 to 20th April, 2020. Empirical results show that in the Bitcoin market, a daily high-low price spread has a significant inverse relationship for daily return, and information flow rate has a significant positive relationship for condition volatility. The study supports a significant negative relationship between information asymmetry and daily return, and there is a significant positive relationship between daily trading volume and condition volatility. When Bitcoin trades on Saturday & Sunday, there is a significant reverse relationship for conditional volatility and there exists a day-of-the-week volatility effect. Under the impact of COVID-19 event, Bitcoin’s condition volatility has increased significantly, indicating the risk of price changes. Finally, the Bitcoin’s return has no impact on COVID-19 events and holidays (Saturday & Sunday).

This paper examines the effect of COVID-19 pandemic on the Philippine stock exchange, peso-dollar rate and retail price of diesel using robust least squares regression and vector autoregression (VAR). The robust least squares regression using MM-estimation method concluded that COVID-19 daily infection has negative and statistically significant effect on the Philippine stock exchange index, pesodollar exchange rate and retail pump price of diesel. This is consistent with the results of correlation diagnostics. As for the VAR model, the lag values of the independent variable disclose significance in explaining the Philippine stock exchange index, peso-dollar exchange rate and retail pump price of diesel. Moreover, in the short run, the impulse response function confirmed relative effect of COVID-19 daily infections and the variance decomposition divulge that COVID-19 daily infections have accounted for only minor portion in explaining fluctuations of the Philippine stock exchange index, peso-dollar exchange and retail pump price of diesel. In the long term, the influence levels off. The Granger causality test suggests that COVID-19 daily infections cause changes in the Philippine stock exchange index and peso-dollar exchange rate in the short run. However, COVID-19 infection has no causal link with retail pump price of diesel.

This study aims to add insight into the effectiveness of e-training, e-leadership, work-life balance, and work motivation on millennial generation employees’ performance in today’s work life amid the outbreak of the COVID-19 pandemic that requires to work more online. Unlike previous generations, millennials are technology-literate, intent on succeeding quickly, give up easily, and seek instantaneous gratification. The population in this study are millennial generation employees at one of Honda motorcycle dealers in Jakarta, Indonesia. The number of samples collected was 200. The sampling technique used is the side probability method, with proportional random sampling technique. The research method used is an associative quantitative approach through survey methods and Structural Equation Modeling. Data were collected through questionnaires distributed to millennial generation employees, with results then processed through the Lisrel 8.5 program. The results of this study show, first, that e-training, e-leadership, and work-life balance have positive effect on work motivation. Second, e-training, e-leadership, work-life balance, and work motivation have positive effect on employees’ performance. The findings indicate that companies must pay attention to the factors of e-training, e-leadership, and work-life balance to keep employees motivated and to maintain optimal employee performance, especially during the COVID-19 pandemic through working online.

Credit capital from customers’ savings deposit (CSD) of banks has an important meaning in the business activities of the banking industry. There are many factors that influence the CSD satisfaction with banks. Certain changes have been made when there are fluctuations due to COVID-19. The article is based on an analysis assessing the factors that influence the CSD satisfaction of Vietnamese commercial banks in the context of COVID-19. The authors use a sample of 1,639 CSD. The results show that there are three variables that positively affect CSD satisfaction, including legal provisions of the Central bank (Legal), policies and mechanisms of commercial banks (Policy), and products of commercial banks (Product). Accordingly, in order to contribute to strengthening this capital mobilization of savings deposit, the Central bank of Vietnam needs to play a pivotal role in the regulations of the banking system to ensure its stability; control well monetary policy, interest rates, and inflation to keep a stable position in the economy; and provide timely financial support packages to enhance the confidence of CSD. Moreover, Vietnamese commercial banks need flexible policies and mechanisms to stimulate CSD; strengthen support on deposit rates for CSD; and diversify products to easily adapt to each CSD’s situation.

In this paper, we propose the new time-varying coefficient GARCH-in-Mean model. The benefit of our model is to allow the risk-return parameter in the mean equation to vary over time. At the end of 2019 to the beginning of 2020, the world witnessed two shocking events: COVID-19 pandemic and 2020 oil price war. So, we decide to use the daily data from December 2, 2019 to May 29, 2020, which cover these two major events. The purpose of this study is to find the dynamic movement between risk and return in four major oil markets: Brent, West Texas Intermediate, Dubai, and Singapore Exchange, during COVID-19 pandemic and 2020 oil price war. For the European oil market, our model found a significant and positive risk-return relationship in Brent during March 26-April 21, 2020. For the North America oil market, our model found a significant positive risk return relationship in West Texas Intermediate (WTI) during March 12-May 8, 2020. For the Middle East oil market, we found a significant and positive risk-return relationship in Dubai during March 12-April 14, 2020. Lastly, for the South East Asia oil market, we found a significant positive risk return relationship in Singapore Exchange (SGX) from March 9-May 29, 2020.

Purpose: This research aims to explore the level of air pollution in Jakarta, the epicenter of COVID-19 Pandemic in Indonesia and its surrounding provinces during the first month of the Pandemic. Research design, data and methodology: This study uses data, which have been obtained real time from API (Application Programming Interfaces) of air quality website. The measurements of Air Quality Index (AQI), temperature, humidity, and other factors from several cities and regencies in Indonesia were obtained eight times a day. The data collected have been analyzed using descriptive statistics and mapped using QGIS. Results: The finding of this study indicates that The Greater Jakarta Area experienced a decrease in pollutant levels, especially in the Bogor area. Nevertheless, some areas, such as the north Jakarta, have exhibited slow reduction. Furthermore, the regions with high COVID-19 confirmed cases have experienced a decline in AQI. Conclusions: The study concludes that the air quality of three provinces, Jakarta, Banten, and West Java, especially in cities located in the Jakarta Metropolitan Area during COVID-19 pandemic and large-scale social restrictions, is getting better. However, in some regions, the reduction of pollutant concentrations requires a longer time, as it was very high before the pandemic.

The outbreak of a recent strain of Coronavirus, known as ‘COVID-19’, has spread sharply from China across the globe, resulting in a dramatic recession in the global economy. This uncertainty has therefore negatively influenced the business perspective and the various formulated strategies that may not considered such [extreme] circumstances. Using baseline analysis and archival data, this paper reports some of the major implications of COVID-19 on global business and strategy and puts forward suggested research agenda as potential future directions for organizations. In order to survive and remain sustainable, this paper argues that businesses need to revisit their strategies during current COVID-19 crises from three perspectives, including supporting human resources financial commitment, forming crossfunctional teams and connecting with their supply chains, as well as investing in corporate social responsibility and doubling down efforts with regard to partnerships. The study also represents a preliminary analysis to the implications of COVID-19 on the business and strategies across the globe and is considered the first such in the field of business, as to date all research papers on COVID-19 have been published in medical-related journals. Directions for future research are also proposed at the end of this study.

This study investigates the behavior of foreign investors in the Stock Exchange of Thailand (SET) in the time of coronavirus disease 2019 (COVID-19) as to whether trading is abnormal, what strategy is followed, whether herd behavior is present, and whether the actions destabilize the market. Foreign investors’ trading behavior is measured by net buying volume divided by market capitalization, whereas the stock market behavior is measured by logged return on the SET index portfolio. The data are daily from Tuesday, August 28, 2018, to Monday, May 18, 2020. The study extends the conditional-regression model in an event-study framework and extracts the unobserved abnormal trading behavior using the Kalman filtering technique. It then applies vector autoregressions and impulse responses to test for the investors’ chosen strategy, herd behavior, and market destabilization. The results show that foreign investors’ abnormal trading volume is negative and significant. An analysis of the abnormal trading volume with stock returns reveals that foreign investors are not positive-feedback investors, but rather, they self-herd. Although foreign investors’ abnormal trading does not destabilize the market, it induces stock-return volatility of a similar size to normal trade. The methodology is new; the findings are useful for researchers, local authorities, and investors.

Purpose: This study uses ‘Autoregressive Integrated Moving Average Model’ to predict the impact of a sharp drop in the base rate due to COVID-19 at the present time when government policies for stabilizing house prices are in progress. The purpose of this study is to predict implications for the direction of the government's house policy by predicting changes in house transaction prices and house rental prices after a sharp cut in the base rate. Research design, data, and methodology: The ARIMA intervention model can build a model without additional information with just one time series. Therefore, it is a time-series analysis method frequently used for short-term prediction. After the subprime mortgage, which had shocked since the global financial crisis in April 2007, the bank's interest rate in 2020 is set at a time point close to zero at 0.75%. After that, the model was estimated using the interest rate fluctuations for the Bank of Korea base interest rate, the house transaction price index, and the house rental price index as event variables. Results: In predicting the change in house transaction price due to interest rate intervention, the house transaction price index due to the fall in interest rates was predicted to change after 3 months. As a result, it was 102.47 in April 2020, 102.87 in May 2020, and 103.21 in June 2020. It was expected to rise in the short term. In forecasting the change in house rental price due to interest rate intervention, the house rental price index due to the drop in interest rate was predicted to change after 3 months. As a result, it was 97.76 in April 2020, 97.85 in May 2020, and 97.97 in June 2020. It was expected to rise in the short term. Conclusions: If low interest rates continue to stimulate the contracted economy caused by COVID-19, it seems that there is ample room for house transaction and rental prices to rise amid low growth. Therefore, In order to stabilize the house price due to the low interest rate situation, it is considered that additional measures are needed to suppress speculative demand.