How to transpose your rich data into panel (Data Stacking / Transpose)


If you are in finance research area, and you are using panel data, the most annoying part is stacking/transpose your time series into panel data. Hereby, I give you the macros in excel (even though I know many software such Tableau can do it faster) to do in a click.

Yet, when you want to run it, adjust it with the number of your column. Mine is 6, and the data that has to be stacked/transposed is from column 2. Therefore, the i = 2 to 6.

Happy trying

Copy paste this to your macros (open your excel –> view –> macros –>view macros –> create –> copy paste –> run)

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Game of Academic Publication: A Memo for Indonesian Lecturers


“Publish or perish” is a famous jargon in academia world, and yet, it is not well-known among Indonesian lecturers. Questions such “Why should we publish?”, “Why Scopus?” or “What is impact factor?” are common questions asked by Indonesian lecturers in facing a recent research regulation imposed by Indonesian higher education ministry.

Interestingly, the recent incentive scheme from the ministry, which will give Rp50 Million to Rp 100million per publication, attracts many attentions of Indonesian lecturers. The criterion is pretty easy: has impact factor than 0.1 and cited more than 3 times (for the Rp50million). Surprisingly, this criterion creates noise on social media among Indonesia lecturers. It goes to one conclusion which is many of Indonesian lecturers are still illiterate about the game of publication, and perhaps, the minister may also mislead this game of publication.

The main question in this game of publication is “why should we publish?” Idealistically, the findings of research are to improve the society. If there is no research about polio vaccine or green energy, what the world would be. Yet, this ideal situation has changed into a strange new direction. It forces academia to publish and publish for the sake of quantity. Look at the new regulation, such as professors have to have two publications, or doctorate candidate has to have one publication, or even undergraduate has to publish nowadays. Why? It is simply because of the university ranking game.

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Corporate Political Investment 101


This upcoming Indonesia presidential election presents the issues of corporate political investment. For instance, many Islamic-based media and blogs accuse that one of the candidates, Joko Widodo, is prepared by catholic-Chinese group to be the next president for the sake of business interest. Similar condition is also faced by another candidate: Prabowo Subianto, where there are anonymous bloggers argued that gigantic corporation and corruption case-linked corporation are supporting him for the sake of penalty-free or legal suit-free. In short, whether it is right or gossip, there is an accusation of corporate involvement in the presidential election, which is well-known as corporate political investment.

What is corporate political investment? Does it true exist? How will it affect the election? What are the benefits of political investment for firms? This writing is corporate political investment 101 (for beginner) which introduces the corporate political investment by exploring its definition, its effects on politics and presidential campaign, and its cost-benefit for corporation. Continue reading

Politik Kebencian


Kampanye pemilihan presiden (pilpres) Indonesia sudah dimulai. Setiap calon presiden (capres) mencari cara untuk menarik suara rakyat Indonesia agar dipilih pada tanggal 9 Juli mendatang. Apa lacur, bukan adu argumentasi atas visi, misi, atau rencana strategis pembangunan Indonesia yang ditonjolkan, tetapi serangan personal, mulai dari latar belakang agama, sejarah masa lalu, atau pun kepahaman atas perihal teknikal administrasi Negara. Sun Tzu dalam art of the war menuliskan “Untuk memenangkan pertempuran, Jika lawan adalah orang yang mudah marah atau tersinggung, berusahalah untuk mengganggu dia. Berpura-puralah menjadipihak yang lemah, supaya ia bisa tumbuh sombong dan kehilangan akal”. Apakah strategi politik kebencian ini yang sedang dimainkan kedua capres?

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PhD student Candidate in Faculty of Economics and Business Universiti Malaysia Sarawak



I purposely write that so someone who are aiming to pursue PhD in Malaysia can see me. Because there is no my name in faculty website so far. So, at least, this is the way to know others that I am exist. haha


My research area is Experimental Economics, Behavioural Finance, Carbon-emission Economy and Corporate Governance. The subjects are such Political Connection, Ownership Expropriation, Behavioural Asset Pricing, Impact of Carbon policy, Impact of carbon footprint, mood and consumption, etc. Hopefully, someone out there read this and pursue his/her study in Sarawak under me. Haha

my email is