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This study aims to analyze the impact of the USD/CNY exchange rate and the Federal Reserve interest rate on the stock returns of Volkswagen AG. Volkswagen AG is chosen as the object of analysis because it is a multinational corporation with significant exposure to the Chinese market, making it highly sensitive to fluctuations in global economic conditions, particularly exchange rate movements and monetary policy changes. The study adopts a quantitative research approach using multiple linear regression analysis to examine the relationships between variables. The data used are monthly secondary data covering the period from 2017 to 2023, resulting in 84 observations. The dependent variable in this study is Volkswagen AG stock returns, while the independent variables consist of the USD/CNY exchange rate and the Federal Funds Rate. The empirical results show that the USD/CNY exchange rate has a negative and statistically significant effect on Volkswagen AG stock returns, indicating that currency depreciation or appreciation plays a crucial role in influencing investor sentiment and firm valuation. In contrast, the Federal Funds Rate does not show a statistically significant effect on stock returns during the observed period. However, the simultaneous test indicates that both variables jointly have a significant influence on Volkswagen AG stock returns. Overall, the findings suggest that exchange rate risk is more dominant than U.S. monetary policy in affecting the stock performance of Volkswagen AG over the study period.

This paper discusses the role of the global minimum tax in addressing tax avoidance by multinational corporations in Indonesia. This policy is the result of an agreement between the OECD/G20 (Organization for Economic Co-operation and Development) in the Base Erosion and Profit Shifting (BEPS) 2.0 project, which aims to reduce global tax avoidance practices by multinational corporations (MNEs). With a minimum rate of 15%, the GMT is expected to create fiscal justice and strengthen the tax base in developing countries like Indonesia. This research uses a qualitative approach based on a review of literature from the OECD, IMF, and academic journals. The analysis shows that the implementation of the GMT has positive potential in increasing state revenues, but also poses administrative challenges and the risk of reducing investment competitiveness. The Indonesian government needs to adjust tax regulations and strengthen fiscal administration capacity to optimize the benefits of this policy. This study also confirms the importance of international cooperation in the successful implementation of the GMT and reducing the potential for tax avoidance by multinational corporations. Furthermore, regular monitoring and evaluation are needed to assess the impact of this policy on the Indonesian economy and to ensure that the implementation of the GMT does not hinder economic growth and investment in strategic sectors.

Transfer Pricing is one of the many terms for policies regulated by national and multinational companies in determining the transfer price of a transaction, be it the price of services, goods, or intangible assets. The main purpose of transfer pricing is to evaluate and measure company performance, but in practice transfer pricing is often used by multinational companies to minimize the amount of tax paid through price engineering that is transferred between divisions or between companies that have special relationships. A special relationship is an ownership relationship between one company and another company and this relationship occurs because of a relationship between one party and another that is not contained in an ordinary relationship. Based on the company's point of view, transfer pricing is very useful for reducing costs and corporate income tax. However, from the government's point of view, transfer pricing engineering carried out in transfer pricing practices can reduce potential government revenue, especially from the tax sector because multinational companies tend to shift their tax obligations from countries with high taxes to countries with low taxes. Thus, to regulate the transfer price, the law gives authority to the tax authorities to re-determine the amount of the transfer price between parties who have a special relationship.

indonesia, the world's 15th largest economy, receives less foreign direct investment than any other developing country, both within and outside its region, with a population of 270 million people and abundant natural resources. According to Indonesia's Central Bureau of Statistics, the country's BPD at that time stood at US$1.49 Trillion. Over the past ten years, foreign direct investment into Indonesia has continued to increase. Multinational companies are companies that consist of various other companies that provide foreign investment opportunities and conduct activities that increase the value of the entity. In addition, multinational companies also have an important role in the global economy and are also leaders in various industrial sectors. The purpose of this research is to find out Multinational Companies that have an important role in the Indonesian economy. This research method uses a qualitative method by collecting research data from previous researchers as a reference. The results of the research we found show that the role of multinational companies has both positive and negative impacts. The positive impact for Indonesia is that they give Indonesia the opportunity to develop its economy through foreign exchange, besides that Multinational Companies also develop digitalization technology for the Indonesian economy. In addition to the positive impact, there are also negative impacts of MNCs, namely, dependence on foreign technology and components, limiting the development of domestic industries, limited technology transfer and development of local companies, decreased domestic investment due to the oligopolistic nature of MNCs, the last is environmental degradation and social inequality caused by MNC operations.

This study aims to analyze the influence of green accounting in carbon tax management in multinational companies in the manufacturing sector. Green accounting is an accounting approach that includes environmental asppects in finansial reporting, aiming to reduce environmental costs and support corporate sustainability. Using quantitative metodts, this study analyzed data form the sustainability report of five manufacturing companies listed on the IDX in 2022. The result of thr analysis show that carbon tax does not have a significant influence on the implementation of green accounting. This show that the implementation of green accounting os more influenced by other factors besides carbon tax policy. These findings reinforce the importance of exploring additional factors that can support the effective implementation of green accounting.

This study aims to analyze the relationship between Authentic Leadership, Organizational Support, and Job Demands on Employee Resilience, with Job Satisfaction serving as a mediating variable. The research focuses on employees of multinational companies in Semarang, utilizing a quantitative approach with regression analysis to evaluate direct, indirect, and interaction effects among the variables.The findings reveal that Authentic Leadership does not significantly influence Employee Resilience directly, though it demonstrates a positive trend, indicating its potential role in creating a supportive work environment for resilience development. Similarly, Organizational Support shows no significant direct effect on Employee Resilience, suggesting that individual perceptions of organizational support may be influenced by other unexamined factors. Job Demands, while having a positive relationship with Employee Resilience, are also not statistically significant, implying that well-managed work demands may positively contribute to resilience without imposing excessive stress.Job Satisfaction as a mediating variable does not significantly explain the relationship between independent variables and Employee Resilience. Additionally, the interaction effects between Job Satisfaction and the independent variables (Authentic Leadership, Organizational Support, and Job Demands) are not significant. These findings suggest that while Job Satisfaction remains essential, its mediating or moderating role in this context is limited.Nevertheless, the overall regression model, which incorporates all variables and interactions, is statistically significant (F = 16.369; p < 0.001), indicating that the combination of these factors collectively influences Employee Resilience. This highlights the importance of considering multiple organizational factors to enhance employee adaptability and productivity.

This article discusses the role and strategies of multinational companies, with a focus on Nestlé Indonesia, in supporting economic development. Nestlé, as an example of a multinational company, operates in various countries and contributes to local economic growth through investment and innovation. This research identifies the scope of multinational companies and the strategies implemented by Nestlé in facing global challenges and complying with international regulations. In addition, this article highlights the importance of appropriate regulations to support the existence of multinational companies in the global market, as well as their positive impact on the national economy.

the impact of multinational corporations (MNCs) in influencing the sources of international law. MNCs play a significant role in the global economy, especially in developing countries, which require foreign investment. The existence of MNCs contributes to the formation and amendment of international treaties, even though these companies are not directly recognized as subjects of international law. The sources of international law evolve over time, including international treaties, international custom, court decisions, as well as scholarly teachings. While MNCs do not have the capacity to litigate in the International Court of Justice, they can play a role in international arbitration and influence the legal policies of the countries in which they operate. The influence of MNCs on the economies of developing countries often leads to the inability of those countries to enforce national laws, due to fears of loss of investment. Therefore, while there is debate over the status of MNCs in international law, they still have a major impact in shaping and influencing the rules of international law through economic cooperation and international treaties.

This study aims to explore the impact of bilateral political volatility on the investment decisions of multinational corporations (MNCs) through a qualitative literature review approach. The analysis reveals that instability in bilateral political relations significantly influences investment decisions, particularly through regulatory uncertainty, geopolitical risks, and disruptions in stakeholder relationships. Companies with strong political connections are better equipped to manage these risks compared to those without similar networks. Mitigation strategies such as geographical diversification and strategic partnerships are identified as key solutions for addressing geopolitical instability. While providing valuable strategic insights, this study is limited to specific geographical and sectoral contexts. These findings highlight the need for further research with broader geographical and sectoral scopes to support strategic decision-making by multinational corporations in increasingly dynamic geopolitical environments.

The aim of this research is to explore in more depth the aspects of Islamic education in the Dinasti Umayyah era. This research uses the library research method, namely using library materials as the main data source in exploring information from the concepts of previous experts. The results of the research show that among the achievements of civilization is the educational aspect which has grown to develop well. Education grew and developed along with the development of Islam, showing its connection to its history. The Dinasti Umayyah, as the first dinasti in the century of expansion, was involved in conquest, consolidation, and forming a multinasional and multicultural empire. They consciously pay attention to educational issues which result in the growth of various scientific treasuresThe impact was felt especially in the European world, where the Dinasti Umayyah succeeded in reclaiming and developing this heritage, which we in Indonesia can also feel.

Multinational corporations are involved in a country's economic sector because they are important in absorbing labor and increasing a country's per capita income. The purpose of this study is to highlight the importance of detailed knowledge about multinational companies that may have some impact on Indonesia's economy. The research method used is a qualitative research method using the technique of collecting library research data using multiple references and information from relevant institutions of the Indonesian economy. The findings show that the role of multinational corporations has both positive and negative impacts. On the positive side, the role of Multinationals could provide Indonesia with adequate opportunities to develop the country's economic sector through Indonesia's foreign exchange contributions. Apart from that, Indonesia is attracting attention from other countries as other countries believe that Indonesia can increase foreign investment due to Indonesia's rich resource potential and emphasis on labor wages in developing countries like Indonesia increasingly recognized. On the negative side, the Indonesian government does not emphasize multinational companies in terms of domestic trade and industry regulations, providing opportunities for domestic companies to compete domestically.

Perusahaan multinasional memiliki keterlibatan dalam sector perekonomian suatu negara karena memiliki entitas yang penting dalam menyerap tenaga kerja hingga meningkatkan pendapatan per kapita suatu negara. Tujuan dari penelitian ini adalah mengetahui peranan secara rinci dari perusahaan multinasional yang dapat memunculkan dampak tertentu bagi perekonomian di Indonesia. Metode penelitian yang digunakan adalah metode penelitian kualitatif, dengan teknik pengumpulan data studi pustaka melalui beberapa referensi serta informasi dari lembaga terkait dengan perekonomian di Indonesia. Hasil penelitian menunjukkan bahwa peranan perusahaan multinasional menimbulkan efek positif serta efek negative. Dari sisi positif, peranan perusahaan multinasional dapat memberikan kesempatan yang tepat bagi Indonesia untuk mengembangkan sector perekonomian negara dengan adanya sumbangsih devisa negara. Selain itu, Indonesia akan makin dikenal oleh negara lain karena negara lain percaya bahwa Indonesia dapat meningkatkan investasi asing karena latar belakang potensi sumber daya Indonesia yang melimpah dan penekanan pada upah pekerja di negara berkembang seperti Indonesia. Di sisi negative, apabila pemerintah Indonesia tidak memberikan penekanan pada perusahaan multinasional mengenai regulasi internal perdagangan dan industri di Indonesia maka akan mempersempit peluang perusahaan domestic dalam bersaing di negara sendiri.

Kemampuan Bahasa Inggris siswa-siswa SMK Mandala Bhakti Surakarta harus diperbaiki. Salah satu indikator rendahnya kemampuan Bahasa Inggris para siswa adalah skor English Proficiency Test yang berequivalensi dengan TOEIC rata-rata masih berkisar 200 sementara nilai maksimalnya adalah 990. Pada umumnya, para siswa belum mengetahui strategi dalam mengerjakan English Proficiency Test yang berequivalensi dengan TOEIC yang terdiri dari tujuh bagian yang berbeda yaitu (1) Listening: photos (2) Listening: question and response (3) Listening: short conversation (4) Listening: short talks (5) Grammar: Incomplete sentences (6) Grammar: text completion (7) Reading comprehension. Pelatihan sangat diperlukan oleh para siswa karena TOEIC adalah tes yang sekarang ini banyak dipakai untuk kepentingan bekerja di perusahaan multinasional maupun internasional.       Masalah rendahnya skor English Proficiency Test yang berequivalensi dengan TOEIC para siswa di SMK Mandala Bhakti Surakarta diminimalisir oleh tim dengan cara memberikan pelatihan intensif TOEIC preparation serta memberikan strategi jitu untuk mengerjakan soal-soal TOEIC dengan cepat dan tepat pada para siswa. Sebelum melaksanakan kegiatan, tim terlebih dahulu melakukan studi pendahuluan melalui observasi dan wawancara, baik dengan guru- guru Bahasa Inggris maupun siswa-siswa SMK Mandala Bhakti. Observasi dilakukan dengan cara memberikan pre-test English Proficiency Test yang berequivalensi dengan TOEIC untuk memperoleh data tentang kondisi kemampuan Bahasa Inggris mereka dan langsung menganalisis tingkat kesulitan tertinggi pada rata-rata siswa sehingga tim dapat mengetahui kebutuhan materi yang akan digunakan untuk pelatihan. Tim juga akan melakukan wawancara terhadap guru-guru Bahasa Inggris untuk mengetahui latar belakang secara umum siswa-siswa di SMK Mandala Bhakti dan kondisi kemampuan Bahasa Inggris para siswa. Studi pendahuluan ini dilakukan agar kegiatan pengabdian kepada masyarakat ini dapat memberikan kontribusi pada siswa-siswa SMK Mandala Bhakti dalam meningkatkan pemahaman dan ketrampilan Bahasa Inggris khususnya dalam mengerjakan TOEIC dengan hasil yang optimal. Hasil dari studi pendahuluan digunakan oleh tim untuk menyusun rencana pengajaran, materi, serta metode pembelajaran yang akan digunakan dalam pelatihan TOEIC.       Kegiatan pelatihan berlangsung selama dua bulan dengan intensitas pertemuan satu kali seminggu dalam durasi 100 menit tiap pertemuan. Lama waktu yang dibutuhkan ini terkait dengan pertimbangan agar kegiatan pelatihan tidak mengganggu kegiatan belajar mengajar di sekolah tersebut. Peserta pelatihan berjumlah 100 siswa kelas XI yang terdiri dari siswa program keahlian farmasi dan keperawatan.       Setelah pre-test, pelatihan TOEIC, dan evaluasi berlangsung, diharapkan siswa-siswa SMK Mandala Bhakti khususnya kelas Farmasi XII-2 dan XII-3 dan Keperawatan XII-1 dan XII-2 memiliki kemampuan penguasaan dalam mengerjakan soal-soal English Proficiency Test yang berequivalensi dengan TOEIC yang memadai terutama dalam tiga kemampuan dasar yang dilatihkan yaitu listening, structure, dan reading comprehension. Di samping itu, pelatihan ini juga ditujukan agar siswa-siswa terbiasa dengan tipe-tipe soal English Proficiency Test yang berequivalensi dengan TOEIC dan mengenali strategi cepat untuk menjawabnya dengan cepat dan tepat. Kemampuan ini diharapkan akan menunjang pencapaian tujuan sekolah yang menggunakan hasil tes English Proficiency Test yang berequivalensi dengan TOEIC sebagai sertifikat pendamping ijazah bagi para lulusan sekolah tersebut. Kata Kunci: Pelatihan,TOEIC, strategi, pre-test

Multinational Corporation is company that operated in many products, markets and cultural, because they, have many company’s branch in foreign. So Multinational Corporation need Global Information System for coordinating their company's branch. Global Information System can connect between everyone involved decision making. Coordinating can done more effective and efficient with Global Information System, because Global Information System can give coordinating's support unlimited time and place.