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"Masalah permodalan dalam suatu usaha menjadi pertimbangan utama dalam bentuk usaha manapun. Koperasi yang menjadi seharusnya menjadi pilar utama ekonomi Indonesia kian lama semakin tersingkir oleh karena persaingan bidang usaha lainnya. Pasar Modal merupakan salah satu sarana yang sangat memberikan potensial besar bagi Koperasi untuk mencari modal pinjaman agar usaha Koperasi dapat menjadi besar. Namun, kenyataanya hingga saat ini belum ada Koperasi yang secara langsung melakukan transaksi di Pasar Modal khususnya melakukan penjualan Obligasi. Padahal menurut ketentuan Peraturan Perundang-Undangan yang berlaku Koperasi dimaksudkan untuk ikut serta dalam transaksi Pasar Modal untuk memberikan beban moral kepada ekonomi Indonesia.

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Capital issues in an effort to be a major consideration in any business. Co-Operatives which should be the main pillar of Indonesia's economy more and more marginalized by the other business sectors because of competition. Capital Markets is one of the very means of providing great potential for cooperation in order to seek capital loans can be great cooperative effort. However, the fact until now there is no direct Co-Operative transactions, especially in the Capital Market to sell bonds. Yet according to the provisions of Rule Legislation which applies Co-Operative intended to participate in capital market transactions to provide a moral burden to the economy of Indonesia."

"Dalam menciptakan sistem keuangan yang berkelanjutan, terdapat faktor-faktor yang berperan penting dalam mendukung sistem keberlanjutan tersebut, salah satunya dengan menerbitkan produk-produk berbasis ramah lingkungan seperti green bonds yang telah menjadi tren dalam beberapa tahun terakhir. Tidak hanya mendanai proyek-proyek berkelanjutan, lebih dari itu naiknya popularitas produk ini mendorong pentingnya pemahaman mengenai peran green bonds sebagai hedging instrument untuk menghadapi risiko pasar. Risiko pasar sendiri merupakan suatu ketidakpastian yang dapat diprediksi melalui berbagai strategi seperti tren volatilitas di masa lalu maupun implied volatility. Kedua strategi ini memiliki tujuan yang sama yaitu untuk meminimalisasi risiko ketidakpastian harga di masa depan. Melalui penelitian ini, penulis menemukan evidence dari significant time-varying causality diantara green bonds dan implied volatility di berbagai negara termasuk Indonesia, dan juga negara lainnya seperti Amerika, Eropa, dan emerging markets (EM). Penelitian ini menganalisa hedging effectiveness dari green bonds terhadap implied volatilities di Indonesia dan negara lainnya serta strategi manajemen portofolio yang dibutuhkan oleh investor untuk memaksimalkan hedging effectiveness. Penelitian ini menemukan bahwa dengan adanya significant time-varying causality, green bonds dapat menjadi hedging instrument yang efektif. Lebih lanjut, menggunakan regime-dependent trading strategies dapat meningkatkan hedging effectiveness dari green bonds dalam konteks risk-adjusted returns pada pasar modal Indonesia.

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One of the key components in building a sustainable financial system is the issuance of green bonds, an environmentally beneficial instrument that has gained popularity recently. Sustainable initiatives receive funding, but even more importantly, the growing demand for this product highlights how crucial it is to comprehend how green bonds function as a hedging tool against market risk. The actual market risk is an unknown that can be forecast using a variety of techniques, including implied volatility and historical volatility patterns.The objective of these two approaches is the same: to reduce the chance of future price volatility. By means of this study, the author discovered evidence of a noteworthy time- varying causal relationship between implied volatility and green bonds in a number of nations, including Indonesia, America, Europe, and emerging markets (EM). The effectiveness of green bond hedging against implied volatility in Indonesia and other nations is examined in this study, along with the portfolio management techniques investors must employ to optimize hedging efficacy. The results of this study indicate that green bonds can be a useful tool for hedging, with a considerable time-varying causal relationship. Furthermore, when considering risk-adjusted returns on the Indonesian capital market, the hedging efficacy of green bonds can be enhanced by employing regime-dependent trading strategies."

"[ABSTRACTHigh foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds

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ABSTRAKTingginya porsi kepemilikan asing pada Obligasi Negara (ON) domestikdapat meningkatkan likuiditas dan mengurangi biaya pinjaman pemerintah.Namun demikian, hal ini juga menyimpan risiko dalam hal sudden reversal.Penelitian ini mengamati perilaku investor asing di pasar ON domestik denganmempergunakan model vektor auto regresi (VAR). Dua faktor yangmempengaruhi perilaku asing di pasar ON domestik yaitu pull factor atau faktorinternal dan push factor atau faktor eksternal. Hasil temuan dari estimasi VARmenunjukkan bahwa harga minyak, sebagai faktor eksternal, secara positifmenggerakkan arus dana asing.Analisa dari hasil estimasi Impulse Response Function (IRF) menunjukkanbahwa gejolak dari arus dana asing secara negatif saling mempengaruhi yield ON,leading indicator, dan volatilitas nilai tukar, tetapi berpengaruh positif terhadaptingkat suku bunga. Berdasarkan analisa diatas, penelitian ini memiliki implikasikebijakan antara lain perlunya intervensi pemerintah di pasar sekunder melaluibuyback dan debt switch, pemberlakuan minimum holding period, memperkuatfungsi pengawasan dan supervisi, menembangkan kerangka Bond StabilizationFund (BSF), dan mempromosikan obligasi pembiayaan proyek;Tingginya porsi kepemilikan asing pada Obligasi Negara (ON) domestikdapat meningkatkan likuiditas dan mengurangi biaya pinjaman pemerintah.Namun demikian, hal ini juga menyimpan risiko dalam hal sudden reversal.Penelitian ini mengamati perilaku investor asing di pasar ON domestik denganmempergunakan model vektor auto regresi (VAR). Dua faktor yangmempengaruhi perilaku asing di pasar ON domestik yaitu pull factor atau faktorinternal dan push factor atau faktor eksternal. Hasil temuan dari estimasi VARmenunjukkan bahwa harga minyak, sebagai faktor eksternal, secara positifmenggerakkan arus dana asing.Analisa dari hasil estimasi Impulse Response Function (IRF) menunjukkanbahwa gejolak dari arus dana asing secara negatif saling mempengaruhi yield ON,leading indicator, dan volatilitas nilai tukar, tetapi berpengaruh positif terhadaptingkat suku bunga. Berdasarkan analisa diatas, penelitian ini memiliki implikasikebijakan antara lain perlunya intervensi pemerintah di pasar sekunder melaluibuyback dan debt switch, pemberlakuan minimum holding period, memperkuatfungsi pengawasan dan supervisi, menembangkan kerangka Bond StabilizationFund (BSF), dan mempromosikan obligasi pembiayaan proyek;Tingginya porsi kepemilikan asing pada Obligasi Negara (ON) domestikdapat meningkatkan likuiditas dan mengurangi biaya pinjaman pemerintah.Namun demikian, hal ini juga menyimpan risiko dalam hal sudden reversal.Penelitian ini mengamati perilaku investor asing di pasar ON domestik denganmempergunakan model vektor auto regresi (VAR). Dua faktor yangmempengaruhi perilaku asing di pasar ON domestik yaitu pull factor atau faktorinternal dan push factor atau faktor eksternal. Hasil temuan dari estimasi VARmenunjukkan bahwa harga minyak, sebagai faktor eksternal, secara positifmenggerakkan arus dana asing.Analisa dari hasil estimasi Impulse Response Function (IRF) menunjukkanbahwa gejolak dari arus dana asing secara negatif saling mempengaruhi yield ON,leading indicator, dan volatilitas nilai tukar, tetapi berpengaruh positif terhadaptingkat suku bunga. Berdasarkan analisa diatas, penelitian ini memiliki implikasikebijakan antara lain perlunya intervensi pemerintah di pasar sekunder melaluibuyback dan debt switch, pemberlakuan minimum holding period, memperkuatfungsi pengawasan dan supervisi, menembangkan kerangka Bond StabilizationFund (BSF), dan mempromosikan obligasi pembiayaan proyek;Tingginya porsi kepemilikan asing pada Obligasi Negara (ON) domestikdapat meningkatkan likuiditas dan mengurangi biaya pinjaman pemerintah.Namun demikian, hal ini juga menyimpan risiko dalam hal sudden reversal.Penelitian ini mengamati perilaku investor asing di pasar ON domestik denganmempergunakan model vektor auto regresi (VAR). Dua faktor yangmempengaruhi perilaku asing di pasar ON domestik yaitu pull factor atau faktorinternal dan push factor atau faktor eksternal. Hasil temuan dari estimasi VARmenunjukkan bahwa harga minyak, sebagai faktor eksternal, secara positifmenggerakkan arus dana asing.Analisa dari hasil estimasi Impulse Response Function (IRF) menunjukkanbahwa gejolak dari arus dana asing secara negatif saling mempengaruhi yield ON,leading indicator, dan volatilitas nilai tukar, tetapi berpengaruh positif terhadaptingkat suku bunga. Berdasarkan analisa diatas, penelitian ini memiliki implikasikebijakan antara lain perlunya intervensi pemerintah di pasar sekunder melaluibuyback dan debt switch, pemberlakuan minimum holding period, memperkuatfungsi pengawasan dan supervisi, menembangkan kerangka Bond StabilizationFund (BSF), dan mempromosikan obligasi pembiayaan proyek;Tingginya porsi kepemilikan asing pada Obligasi Negara (ON) domestikdapat meningkatkan likuiditas dan mengurangi biaya pinjaman pemerintah.Namun demikian, hal ini juga menyimpan risiko dalam hal sudden reversal.Penelitian ini mengamati perilaku investor asing di pasar ON domestik denganmempergunakan model vektor auto regresi (VAR). Dua faktor yangmempengaruhi perilaku asing di pasar ON domestik yaitu pull factor atau faktorinternal dan push factor atau faktor eksternal. Hasil temuan dari estimasi VARmenunjukkan bahwa harga minyak, sebagai faktor eksternal, secara positifmenggerakkan arus dana asing.Analisa dari hasil estimasi Impulse Response Function (IRF) menunjukkanbahwa gejolak dari arus dana asing secara negatif saling mempengaruhi yield ON,leading indicator, dan volatilitas nilai tukar, tetapi berpengaruh positif terhadaptingkat suku bunga. Berdasarkan analisa diatas, penelitian ini memiliki implikasikebijakan antara lain perlunya intervensi pemerintah di pasar sekunder melaluibuyback dan debt switch, pemberlakuan minimum holding period, memperkuatfungsi pengawasan dan supervisi, menembangkan kerangka Bond StabilizationFund (BSF), dan mempromosikan obligasi pembiayaan proyek, Tingginya porsi kepemilikan asing pada Obligasi Negara (ON) domestikdapat meningkatkan likuiditas dan mengurangi biaya pinjaman pemerintah.Namun demikian, hal ini juga menyimpan risiko dalam hal sudden reversal.Penelitian ini mengamati perilaku investor asing di pasar ON domestik denganmempergunakan model vektor auto regresi (VAR). Dua faktor yangmempengaruhi perilaku asing di pasar ON domestik yaitu pull factor atau faktorinternal dan push factor atau faktor eksternal. Hasil temuan dari estimasi VARmenunjukkan bahwa harga minyak, sebagai faktor eksternal, secara positifmenggerakkan arus dana asing.Analisa dari hasil estimasi Impulse Response Function (IRF) menunjukkanbahwa gejolak dari arus dana asing secara negatif saling mempengaruhi yield ON,leading indicator, dan volatilitas nilai tukar, tetapi berpengaruh positif terhadaptingkat suku bunga. Berdasarkan analisa diatas, penelitian ini memiliki implikasikebijakan antara lain perlunya intervensi pemerintah di pasar sekunder melaluibuyback dan debt switch, pemberlakuan minimum holding period, memperkuatfungsi pengawasan dan supervisi, menembangkan kerangka Bond StabilizationFund (BSF), dan mempromosikan obligasi pembiayaan proyek]"

"[ABSTRAKTingginya porsi kepemilikan asing pada Obligasi Negara (ON) domestikdapat meningkatkan likuiditas dan mengurangi biaya pinjaman pemerintah.Namun demikian, hal ini juga menyimpan risiko dalam hal sudden reversal.Penelitian ini mengamati perilaku investor asing di pasar ON domestik denganmempergunakan model vektor auto regresi (VAR). Dua faktor yangmempengaruhi perilaku asing di pasar ON domestik yaitu pull factor atau faktorinternal dan push factor atau faktor eksternal. Hasil temuan dari estimasi VARmenunjukkan bahwa harga minyak, sebagai faktor eksternal, secara positifmenggerakkan arus dana asing.Analisa dari hasil estimasi Impulse Response Function (IRF) menunjukkanbahwa gejolak dari arus dana asing secara negatif saling mempengaruhi yield ON,leading indicator, dan volatilitas nilai tukar, tetapi berpengaruh positif terhadaptingkat suku bunga. Berdasarkan analisa diatas, penelitian ini memiliki implikasikebijakan antara lain perlunya intervensi pemerintah di pasar sekunder melaluibuyback dan debt switch, pemberlakuan minimum holding period, memperkuatfungsi pengawasan dan supervisi, menembangkan kerangka Bond StabilizationFund (BSF), dan mempromosikan obligasi pembiayaan proyek.

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ABSTRACTHigh foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds.;High foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds.;High foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds.;High foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds.;High foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds.;High foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds.;High foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments? cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds., High foreign ownership of domestic government bonds (GB) could generateliquidity and reduce governments’ cost of borrowing. However, they also containrisk in the case of sudden reversal. This study investigates the behavior of theforeign investors in the domestic Indonesian GB market by applying the vectorauto regression (VAR) model. There are two factors that could determine foreignbehavior in the domestic GB market, namely pull (or internal) factors and push (orexternal) factors. The finding from the VAR estimation provides evidence that oilprice, as a push factor, positively drives foreign capital flows.Dynamic analysis from the Impulse Response Function (IRF) shows that theshock of foreign capital flows negatively respond to GB yield, leading indicator,and exchange rate volatility, and vice versa. However, it has a positive impact oninterest rates and vice versa. Based on its results, this study has important policyimplications, such as government intervention in the secondary market throughbuyback and debt switch, application of a minimum holding period, strengtheningthe control and supervision body, construction of a Bond Stabilization Fundframework, and promotion of project-financing bonds.]"

"Tesis ini membahas tentang regulasi privatisasi dan pelaksanaa privatisasi dari PT Garuda Indonesia Tbk. Penelitian ini berfokus pada latar belakang Kondisi APBN (Anggaran Pendapatan dan BelanjaNegara) sering mengalami defisit, sehingga pemerintah mengatasinya dengan cara restukturnisasi dan privatisasi perusahaan, untuk melaksanakan privatisasi banyak kendala yang dihadapi yaitu intervensi dan dari birokrasi ditambah rongrongan dari politisi yang tidak dapat dicegah,karena tidak jelasnya fungsi dan peran masing-masing. Kepastian hukum bagi pihak-pihak yang melakukan kegiatan di pasar modal, serta melindungi masyarakat pemodal atau investor dan kebijakkan privatisasi BUMN tersebut masih mempunyai kelemahan, dimana dalam UU No.19 Tahun 2003 tentang BUMN dan PP No.33 tahun 2005 jo PP No.59 tahun 2009 Tentang tata cara privatisasi persero tidak mengatur secara detail atau lengkap mengenai manajerial dari BUMN yang akan diprivatisasi serta tidak diaturnya bagaimana pengelolaan pihak swasta terhadap BUMN, sehingga tidak ada aturan main yang jelas mengenai pengelolaan manajerial sebelum dan sesudah terjadi privatisasi. Dalam kasus PT.Garuda IndonesiaTbk privatisasi sangat dibutuhkan untuk pembiayaan perusahaan. Tapi dalam pelaksanaannya perusahaan mendapat kendala dengan turunnya harga saham sehingga perusahaan sekuritas dirugikan untuk menyerap saham yang tidak laku. Jadi pemerintah harus lebih fokus dalam mengadakan privatisasi sehingga kasus seperti PT.Garuda Indonesia Tbk tidak terulang lagi.

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This thesis discusses the regulation of privatization and privatization of PT Garuda Indonesia Tbk. This study focuses on the background condition of the State Budget often experience a deficit, so that the government deal with it restukturisatio and privatization of the company, to carry out the privatization of many of the constraints faced by the intervention and of the bureaucracy plus the undermining of politicians that can not be prevented, because unclear functions and roles of each. Legal certainty for the parties who conduct activities in capital markets, and to protect investors or the investor community and the policy of privatization of state enterprises still have a weakness, which in the Act No.19 of 2003 SOEs and Government Regulation No.33 of 2005 jo No.59 of 2009 on procedures for privatization limited company does not regulate in detail or details on managerial to be privatized and no regulation of how the management of private parties against the state, so there are no clear rules regarding managerial management before and after the privatization. In the case of privatization PT.Garuda Indonesia Tbk is needed to finance the company. But in actual firms have constraints with lower stock price so that securities firms harmed to absorb the unsold stock. So the government should focus more on privatization held that cases such as PT.Garuda Indonesia Tbk will not happen again."

"Fokus dari tesis ini adalah pada pengembangan Repo sebagai lembaga pendanaan di Indonesia Indonesia, khususnya yang terkait dengan Equity Repo; Konsep repo di Indonesia setelah diterapkan Peraturan OJK No. 9 / POJK.04 / 2015; dan implementasi Repo konsep di Pengadilan Indonesia. Ada beberapa masalah mengenai konsep Repo sebagai perjanjian yang diatur, digunakan dalam praktik berbeda dan di pengadilan putusan di Pengadilan Indonesia terkait dengan hak milik dan prinsip pribadi hukum berdasarkan KUHPerdata Indonesia. Maka, penulis merumuskan dan membahas masalah berikut: 1. Bagaimana implementasi konsep Repo secara khusus Repo Ekuitas melalui Regulasi dan Pasar Modal di Indonesia ?; 2. Bagaimana hubungan antara konsep Repo sebagai perjanjian dengan konsep hak properti di Indonesia kerangka kerja hukum swasta Indonesia ?; 3. Bagaimana implementasi darikonsep hak properti tentang Repo sebagai perjanjian di Pengadilan Indonesia Aturan? Dalam kesimpulan ini, pengembangan Equity Repo di Indonesia masih belum optimal dan peraturan tentang Repo tidak konsisten sehingga ada urgensi untuk menyelaraskan konsep Repo sebagai kesepakatan dalam kerangka hukum Indonesia kerja. Penelitian ini menggunakan pendekatan yuridis normatif dengan deskriptif analitistipologi.

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The focus of this thesis is on the development of Repo as a funding institution in Indonesia Indonesia, specifically related to Equity Repo. The concept of repo in Indonesia after the implementation of OJK Regulation No. 9 / POJK.04 / 2015; and the implementation of the Repo concept in the Indonesian Courts. There are several issues regarding the concept of Repo as a regulated agreement, used in different practices and in court decisions in Indonesian Courts relating to property rights and personal legal principles based on the Indonesian Civil Code. So, the authors formulate and discuss the following issues: 1. How is the implementation of the Repo concept specifically Repo Equity through Regulations and Capital Markets in Indonesia ?; 2. What is the relationship between the concept of Repo as an agreement with the concept of property rights in Indonesia in Indonesias private legal framework ?; 3. How is the implementation of the concept of property rights regarding Repo as an agreement in Indonesian Court Rules? In this conclusion, the development of Equity Repo in Indonesia is still not optimal and the regulations on Repo are not consistent so there is an urgency to harmonize the concept of Repo as an agreement in the Indonesian legal framework. This study uses a normative juridical approach with analytical descriptive typology."

"Skripsi ini membahas tentang pengaruh kondisi makroekonomi Indonesia terhadap masuknya arus modal ke pasar saham dan obligasi dengan menggunakan metode adalah VECM (Vector Error Correction Model). Hasil penelitian ini diketahui bahwa pengaruh kondisi makroekonomi Indonesia terhadap arus investasi portfolio asing di Indonesia hanya berpengaruh pada jangka panjang sedangkan pengaruh yang dihasilkan pada jangka pendek tidak signifikan. Hal ini dapat dikarenakan oleh skala pasar Indonesia yang masih kecil sehingga pengaruh perekonomian global masih berperan lebih besar pada arus investasi ke Indonesia daripada pengaruh kondisi perekonomian Indonesia.

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This thesis focused on the Influence of Indonesia?s Macroeconomic condition to capital inflow in stock and debt market by using VECM (Vector Error Correction Model) method. The result of this research is the influence of Indonesia?s macroeconomic condition that only impact in long-term period whereas there is no significant influence in the short-term period. It happens due to the small Indonesia?s market scale; therefore, global economic give bigger influence to capital inflow in Indonesia than Indonesia economic condition."

"Dalam menghadapi Pandemi COVID-19, Pemerintah memberikan relaksasi kemudahan bagi para pelaku usaha agar perekonomian dapat berjalan dan mencegah krisis sistem keuangan. Pengecualian Prinsip Keterbukaan Informasi di bidang Pasar Modal merupakan salah satu relaksasi yang diatur dalam POJK No.37/POJK.04/2020, untuk memperbolehkan Emiten atau Perusahaan Publik Tertentu untuk tidak melakukan keterbukaan informasi. Namun, kebijakan ini dianggap menyalahkan prinsip keterbukaan informasi yang selama ini dikenal di bidang Pasar Modal dan melahirkan permasalahan hukum yaitu sensitivitas informasi dan perlindungan investor. Kebijakan ini juga dikenal di negara Amerika Serikat dan Australia, yang dinilai lebih memberikan perlindungan hukum kepada investor. Oleh karena itu, skripsi ini akan membahas dan menganalisis perbandingan pengaturan pengecualian prinsip keterbukaan informasi yang diatur di negara Amerika Serikat dan Australia, yang dapat memberikan rekomendasi untuk perbaikan peraturan di Indonesia. Bentuk penelitian dari skripsi ini adalah yuridis-normatif dengan tipologi penelitian deskriptif yang didukung oleh studi bahan pustaka dan wawancara sebagai alat pengumpul data. Berdasarkan perbandingan dengan Amerika Serikat dan Australia, dapat disimpulkan bahwa pengaturan Pengecualian Prinsip Keterbukaan Informasi di Indonesia belum melindungi pemegang saham dan memberikan kepastian hukum bagi Emiten. Selain itu, POJK No.37/POJK.04/2020 juga bertentangan dengan UU Pasar Modal yang merupakan peraturan inti pasar modal Indonesia. Oleh karena itu, disarankan perbaikan dan perubahan pengaturan pengecualian prinsip keterbukaan informasi pasar modal di Indonesia yang lebih komprehensif, jelas dan menyeluruh.

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The government provides relaxation policies for businesses to prevent financial system crises due to the Pandemic. The exclusion of the information disclosure principle in the capital market is one of the relaxations regulated in POJK No.37/POJK.04/2020, to allow Listed Companies not to disclose all the information about the company. However, the policy is considered to blame the information disclosure principle that has been known in the Capital Markets. The policy also gives legal problems, such as information sensitivity and investor protection. This policy is also known in the United States of America and Australia, which provides more legal protection to investors. Therefore, this thesis will discuss and analyze the comparison of regulations convened by the United States and Australia, which can provide Indonesia's regulatory improvement. The research form of this thesis is juridical-normative with a descriptive research typology supported by library study materials and interviews as a tool for collecting data. This research found that based on comparisons with the United States and Australia, it concludes that the exception of the information disclosure principle in Indonesia has not protected shareholders and provides legal certainty for issuers. In addition, POJK No.37/POJK.04/2020 is also contrary to the Indonesia Capital Market Law, the core regulation of Indonesia's capital market. Therefore, it is recommended that improvements and changes in the arrangement of exclusion arrangements for the information disclosure principle of capital market in Indonesia."

"Demi kemajuan ekonomi bangsa, setiap kegiatan perekonomian harus diatur dengan benar dan sesuai dengan prinsip-prinsip yang berlaku. Peraturan kegiatan ekonomi yang dibahas di dalam skripsi ini adalah Prosedur Privatisasi Badan Usaha Milik Negara melalui Pasar modal. Oleh karena itu, tujuan dari penelitian ini adalah untuk memberikan informasi mengenai pengaturan dalam prosedur Privatisasi beserta hambatan dari salah satu prosedur tersebut. Penelitian dengan metode Juridical Normative ini akan memberikan prinsip-prinsip yang harus dipenuhi dalam melakukan privatisasi. Penelitian ini juga mengkorelasikan peraturan yang mengatur dengan kesuksesan program dari Kepemerintahan 2014-2019. Penelitian ini pada akhirnya akan memberikan kesimpulan terkait permasalahan yang sering terjadi pada Privatisasi Badan Usaha Milik Negara melalui Pasar modal, serta akan pula memberikan saran demi kelancaran privatisasi tersebut.

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For the sake of economic progress of the nation, every economic activity must be regulated properly and in accordance with principles that apply. The regulations of economic activity discussed in this thesis are Privatization Procedures of State Owned Enterprises through Capital Market. Therefore, the purpose of this thesis is to provide information on the arrangements in the privatization procedures along with any barriers of the procedures. Using Juridical Normative method, this research will provide principles that must be fulfilled in privatization. This study also correlates the rules governing the success of the program from Government 2014 2019. This study will ultimately provide conclusions regarding the problems that often occur on the Privatization of State Owned Enterprises through capital market, and will also provide advice for smooth privatization. "