Harjum Muharam

Development of Ozone Technology Rice Storage Systems (OTRISS) for Quality Improvement of Rice Production

This research has been carried out by using ozone to address the rapidly declining quality of rice in storage. In the first year, research has focused on the rice storage with ozone technology for small capacity (e.g., household) and the medium capacity (e.g., dormitories, hospitals). Ozone was produced by an ozone generator with Dielectric Barrier Discharge Plasma (DBDP). Ozone technology rice storage system (OTRISS) is using ozone charateristic which is a strong oxidizer. Ozone have a short endurance of existence and then decompose, as a result produce oxygen and radicals of oxygen. These characteristics could kill microorganisms and pests, reduce air humidity and enrich oxygen. All components used in SPBTO assembled using raw materials available in the big cities in Indonesia. Provider of high voltage (High Voltage Power Supply, 40-70 kV, 23 KH, AC) is one of components that have been assembled and tested. Ozone generator is assembled with 7 reactors of Dielectric Barrier Discharge Plasma (DBDP). Rice container that have been prepared for OTRISS have adjusted so can be integrated with generator, power supply and blower to blow air. OTRISS with a capacity of 75 kg and 100 kg have been made and tested. The ability of ozone to eliminate bacteria and fungi have been tested and resulted in a decrease of microorganisms at 3 log CFU/g. Testing in food chemistry showed that ozone treatment of rice had not changed the chemical content that still meet the standard of chemical content and nutritional applicable to ISO standard milled rice. The results of this study are very likely to be used as an alternative to rice storage systems in warehouse. Test and scale-up is being carried out in a mini warehouse whose condition is mimicked to rice in National Rice Storage of Indonesia (Bulog) to ensure quality. Next adaptations would be installed in the rice storage system in the Bulog.

Ozone production by Dielectric Barrier Discharge Plasma for microbial inactvation in rice

Research on ozone production by using silent plasma or Dielectric Barrier Discharge Plasma (DBDP) and implemented for microbial inactivation in rice has been done. The plasma reactor for ozone generating were reactor with multi-point-plane (MP-P) reactor and spiral-cylender (S-C) reactor configurations. The high voltage AC has been used with voltage up to 40 kV and maximum frequency 23 kHz. For implementation in rice, this research used a Randomized Block Design (RBD) with 5 treatments and 4 replications in each treatment. Exposure time was varied such as: 0, 30, 60, 90, and 120 minutes. Total bacteria and molds (fungi) has been detected by using Total Plate Count (TPC) methods with nutrient broth as media for bacteria and, we found that MP-P Reactor needed less voltage comparing with S-C Reactor for the same cocentration ozone. Ozone generated by DBDP can reduce the population of bacteria and fungi in rice. The exposure for 90 minutes can eliminate 58.41% population of bacteria, and 26.23% population of fungi. Through analysis of variance known that ozone treatment is significantly affect the total bacteria at significance level of 5% and 1% (P <;0.05). However, treatment of fungi shown no significant effect, even at the 5% significance level (P> 0.05). Subtances of water, fat, and protein in rice was not change before and after ozone treatment.

Development of ozone technology fish storage systems for improving quality fish production

Development of ozone technology fish storage system (OTFIS) to maintain the quality of the fish has been done. The ozone technology fish storage system (OTFIS) can be applied in the fishing boat, fish storage in the Fish Auction Market, fish storage in the means transport for fish. In this research, we produced a prototype that was integrated by the fish container and ozone generator. We used Dielectric Barrier Discharge Plasma (DBDP) technology for ozone generator. The characterization of ozone generator has been carried out and showed that ozone generator can produce ozone concentration from 0.5 ppm to 12 ppm. The ozone concentration in the area is very suitable to be used in food technology. The ozone treatment was performed on red tilapia representing the white-fleshed fish with ozone concentrations from 0.5 ppm to 4.5 ppm. The results of this treatment showed that organoleptic and TVBN of fish were still appropriate with Indonesian National Standard (INS). Beside that, TPC testing has been done on the red tilapia showed that the higher the ozone concentration the smaller the remaining of bacteria colonies. Similarly, for a variable of time, the longer the exposure to ozone the less the remaining of colonies. The results of this study have been adapted to realize of OTFIS with a size of 50 cm × 50 cm × 100 cm (250 liters) and can accommodate as much as 100 kg of fish.

Government Bond Yield Volatility and It's Determinants: The Case of Indonesia Government Bond

This research is conducted from gaps of research findings regarding factors influencing government bond yield. The aim of this research is to develop a model of government bond yield determinants and to test hypothesis about the effect of inflation, foreign reserves, local interest rate, stock market return, exchange rate, foreign interest rate, world oil prices, real sector performance, and conditional variances on government bond yield. Time series process and multifactor models are employed. The model combines two approaches called Multifactor EGARCH-M Model. The population is Indonesian government bond, denominating in IDR and has a fixed coupon rate. The sample selected is five years tenor bond. The findings are: (1) Indonesia’s government bond yield has volatility clustering as measured by GARCH process; (2) based on adjusted R2, logL, Akaike Information Criterion (AIC) and Schwarz Criterion (SC), Multifactor EGARCH-M Model is the best model among six models developed; (3) as a proxy of market risk and default risk, GARCH-M has the biggest effect on its yield followed by non gold reserve; (4) the other variables having influences on government bond yields are: local interest rate, stock market return, exchange rate, foreign interest of rate, and world oil price. Inflation and real sector performance have no effect on government bond yields.

The Influence of Fundamental Factors to Liquidity Risk on Banking Industry: Comparative Study between Islamic Bank and Conventional Bank in Indonesia

Bank and risk are two things that cannot be separated from each other. Both conventional and Islamic banks are more or less similar in risk summary. One of the critical risk is liquidity risk that caused by bank disabilities on meeting their maturity dates of depositors. Therefore it needs further observations to control their liquidity risk. This study investigates the influence of CAR, profitability ratios, NIM, liquidity gaps, and RLA belongs to liquidity risk on banking industry. The population of this study consists of conventional and Islamic banks. The selection of samples uses purposive sampling method. The samples are divided into 3 conventional banks and 3 Islamic banks. The study is based on secondary data in a period of five years, i.e. 2007-2011. The statistical analysis of secondary data has been divided into three, which are descriptive, regression and hypothesis testing. The study finds negative and significant influence of CAR and ROE to liquidity risk on conventional banks, while ROA and RLA have positive and insignificant effect. In Islamic banks, the research finds positive and significant impact of NIM and ROE to dependent variable, whereas liquidity gaps and RLA have insignificant affect. Liquidity gaps have positive and significant effect to liquidity risk in conventional banks, while ROA has positive direction in Islamic banks. In addition, NIM in first model and CAR in second model is found to be negative and insignificant at 5% significance level.

Applying an international CAPM to herding behaviour model for integrated stock markets

Development of financial globalization in the form of stock market integration experiences a trend which is getting stronger. The analysis models in the field of finance and investments should be able to adjust to these developments. This adjustment includes the models used to detect the existence of herding behavior. All this time, the herding behavior model of individual stocks towards market consensus has been referring to CAPM theory. The basic assumption of CAPM is that financial assets at a domestic stock market are segmented from the financial assets’ movement at the global market. Therefore, this paper aims to provide an alternative view in the form of an international herding model that should be applied in the context of an integrated stock market. The model was created with reference to the international CAPM. This paper combined ICAPM method and international CSAD model to identify herding for eight stock markets, the sample period being from January 2003 to December 2016. The result found that for segmented stock markets, represented by China Received: September, 2017 1st Revision: October, 2017 Accepted: November, 2017 DOI: 10.14254/20718330.2017/10-4/3 Journal of International Studies S ci en ti fi c P a pe rs

VAR Analysis on Mutual Relationship between Stock Price Index and Exchange Rate and the Role of World Oil Price and World Gold Price

This study aims to analyze the influence of world oil price and world gold price on mutual relations between exchange rate and stock price index. This study uses monthly data of exchange rate (IDR/US

Liquidity Risk on Banking Industry: Comparative Study Between Islamic Bank and Conventional Bank in Indonesia

) and JCI from January 2000 to January 2013. Co integration test was used in analyzing long-term relationships between variables. VAR model was used in determining whether world oil prices and world gold price affect the exchange rate and stock index, and analyze the interrelationships between exchange rate and stock price index. Impulse Response Analysis is used to determine the response of exchange rate and the stock price index on world oil price shocks and world gold price shocks. Analysis of Variance Decomposition is used to determine the role of world oil prices and world gold prices in explaining the movement of exchange rate and JCI. Co integration analysis results show that all the variables, ie, world oil prices, gold prices, exchange rates and JCI have long run co integration. The analysis showed that the world oil price has significant effect on the exchange rate but has no effect on JCI; the world gold price has no effect on exchange rate and JCI; exchange rate has significant effect on JCI and vice versa. Granger causality test showed that JCI and exchange rate have bidirectional relationship. Impulse Response Analysis results indicate that the world oil price shocks responded negatively by exchange rate; shocks in world gold prices responded negatively by JCI and exchange rate; exchange rate changes responded positively by JCI, and JCI changes responded positively by exchange rate.

The World Oil Price Movements and Stock Returns in Several Southeast Asia’s Capital Markets

Liquidity Risk on Banking Industry: Comparative Study Between Islamic Bank and Conventional Bank in Indonesia. Conventional and Islamic banks approximately are similar in risk summary. Therefore it needs further observations to control their liquidity risk. This study investigates the influence of CAR, profitability ratios, NIM, liquidity gaps, and RLA belongs to liquidity risk on banking industry. The statistical analysis concluded that there are negative and significant influence of CAR and ROE to liquidity risk on conventional banks, while ROA and RLA have positive and insignificant effect. In Islamic banks, a positive and significant impact of NIM & ROE to dependent variable, whereas liquidity gaps and RLA have insignificant affect.