During a global crisis, like COVID-19, investors are often uncertain how to decide for their portfolios: Should they hedge or even sell? The purpose of this quantitative, comparative study was to investigate how three different hedging models (HM) perform in comparison. The research question was: what HM with exchange traded funds is most profitable for U.S. stock portfolios? In this study, GARCH (1, 1) models, hedging coefficients, simple moving average (SMA), and t-tests were computed. To sell a portfolio seemed the most profitable strategy during a crisis with (rSMA(24) = 4.37% per month), with $5,000 initial investment during 2000-2019. However, if the investor is indecisive, then a hedge strategy could buy the investor time with (rHedged = 1.87% % per month) during market uncertainties. The paper is relevant for investors and portfolio managers who have to decide hedge or sell a portfolio during a crisis, since an analysis of three different HMs in comparison is provided.

The purpose of this study is to determine the effect of tax avoidance on the cost of debt on sector of food and beverage manufacturing companies in Indonesia. This research is a quantitative study that analyzes the effect of tax avoidance on the cost of debt with managerial opportunism as a moderating variable. The cost of debt is one important component that must be considered because it can affect company sustainability. Tax avoidance is also one of the management strategies that can affect rising debt costs if managers behave opportunistically to increase debt costs due to avoiding taxes that must be paid by companies. This study used a food and beverage sub-sector manufacturing company for 4 years of observation, namely from 2014-2017. We used multiple regressions with SPSS 23 for hypotheses tested. The results of this study indicate that tax avoidance affects the cost of debt. Whereas the managerial opportunism can be weakens the effect of tax avoidance on the cost of debt.

The purpose of the study was to analyze the effect of satisfaction on word of mouth customers of Islamic banks in Central Sulawesi Province. This study applied two survey methods, i.e., descriptive survey and explanatory survey and was conducted from January to May - July 2018. Samples were Islamic bank customers in Central Sulawesi Province. The sample size of the study was 345 respondents spreading in several Islamic banks in Central Sulawesi Province, which included: Syariah Mandiri KC Palu Bank, Syariah Mandiri KC Luwuk Bank, BNI Syariah Bank, Muamalat Bank, BRI Syariah Bank. The variables of the study were customer satisfaction and word of mouth. The results of the study showed that customer satisfaction was classified as a good category, with the mean score was 3.62. The mean value for WOM intention was 3.55 (good category), positive valence WOM value was 3.61 (good category), negative valence WOM value was 3.59 (good category), WOM content value was 3,77 (good category). The satisfaction had a significant effect on the word of mouth Islamic bank customers in Central Sulawesi with a p-value = 0.036 (p <0.05). It can be concluded that if satisfaction increases, the desire of Islamic bank customers in Central Sulawesi to do WOM would also increase.

This study is a follow-up study of research on stock prices that have been conducted by researchers, but this research focuses on the fundamental analysis of the impact of financial ratios before and after being published on stock prices. As in the signal theory that management will always try to give a positive signal to the market to be captured well so as to increase the value of the company which is reflected in the entity's stock price on the exchange, one of which is by publishing financial statements. This study analyzes more deeply the effect of financial ratios including Return On Assets (ROA), Net Profit Margin (NPM) and Debt to Equity Ratio (DER) on stock prices before and after the publication of financial statements. Using panel data with STATA, it was found that the effect of ROA and NPM on stock prices after publication was stronger than before publication, while the effect of DER was found to be the opposite. With these results concluded that financial ratios are still one of the benchmarks used by investors in their transactions in the stock market.

The accountants are demanded to have competent competence in making financial statements that are technically and technologically qualified. So in the era of industrial revolution 4.0, the accountant profession is also required to understand big data that stores a lot of information, not only financial data but also non-financial aspects. According to Abdillah (2016) states that Internet Financial Reporting is one of the voluntary disclosures because no regulations are governing what content should be presented by the company's website. Most publicly listed companies have a personal website that provides essential company information. In conclusion, an accountant profession must understand the internet financial reporting system or disclosure of corporate financial reporting through the company's website is one of the methods that must be studied by the accounting profession. This study aims to examine the effect of Return on Equity, Quick Ratio, and Debt to Equity Ratio on Internet Financial Reporting and Company Size as a Moderating Variable. The results of this study indicate that Return on Equity, Quick Ratio to Internet Financial Reporting cannot be moderated by Company Size, whereas Debt to Equity Ratio to Internet Financial Reporting can be reduced by Company Size.