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"The number of takeover transactions is relatively less compared to other corporate actions bypublicly-listed companies, (e.g. IPOs, rights issues, or material transactions). There is no researchthat explains or contextualizes this fact, but one may speculate that this may be due to (a) the existenceof block-holders in Indonesia’s corporate structure profile (structural barrier) or (b) because itis costly to carry out a takeover in light of the existing Mandatory Tender Offer (MTO) requirements(legal barrier). This article focuses on the latter problem, aiming to address the practical and legalissues pertaining to takeover transactions in Indonesia with respect to the existence of the MTO.Pursuant to the prevailing rule, in a takeover of publicly-listed companies that results in a change ofcontrol, a MTO/mandatory bid requirement must be followed with the potential acquirer making anoffer to purchase all of the remaining shares of the target company according to a certain minimumprice formula. Specifically the article discusses practical and creative strategies that prospectivecontrollers employ to avoid the mandatory bid/MTO requirement, and how these strategies impactthe principle of minority shareholders’ protection.."

"Shari’ah stock market is also affected by many highly interrelated economic, social, political andother factor, same as the conventional stock market, the interaction between macroeconomic variablesand Shari’ah stock market creating volatility in the stock price as a response towards severalshocks. The sensitivity of Shari’ah stock market towards shocks happened related with the futureexpectation of micro and macro factor in one country which can be predict or unpredictable.There are six macroeconomic variables that used in this research; inflation, exchange rate, interestrate, dow jones index, crude oil palm price, and FED rate. Using vector error correction model(VECM), the result shows that domestic macroeconomic variables that significantly affect IndonesiaShari’ah compliance for long term, while for international macroeconomic variables the selectedvariable such as FED rate and Dow Jones Index are not significantly affected Indonesia Shari’ahcompliance both in short term and long term."

"This article contributes to country specific result on the responses of sector stock indices to crudeoil price changes. Using linear and asymmetric models and by studying the association of crude oiland stock price, this article aims to explain about the short-term responses of Indonesian sector stockindices to crude oil price changes. Besides, we also try to figure out whether there are asymmetricresponses within. Our findings suggest that the strength and the sensitivity of this association varyacross sectors, and the effects are positive for all sectors. We also find strong significance of asymmetryreactions for Agriculture and Consumer Goods sector stock returns due to changes in crudeoil price."

"The purpose of this research is to examine the influence of good corporate governance mechanismabout earnings management in companies listed in Indonesian Stock Exchange during 2006 to2010. The independent variables include the size of commissioner board, independent commissionerboard percentage, size of audit committee, and commissioner meeting frequency. The dependent variableis earnings management which is measured by discretionary revenue model (Stubben, 2010).Size of company is used as the control variable in this research. The population of this research is465 samples from companies listed at Indonesian Stock Exchange during 2006 to 2010. The samplingmethod used in this research is purposive sampling method. In addition, the data analysis methodused is regression analysis and descriptive statistics. The result of this research indicates that themechanism of good corporate governance which is represented by the size of commissioner board,independent commissioner board percentage, size of audit committee, and commissioner meeting frequencydo not have any significant impact on earnings management. However, the result shows thatcompany size gave positive influence toward earning management."

"ABSTRAKThis research examines Chief Executive Officer (CEO) turnover and market reaction in Indonesia. The sample of this research consists of 213 CEO turnover announcements for Indonesia Stock Exchange during 2000?2010 period. T-tests were used to investigate the effect of CEO turnover announcement on abnormal stock return during the event windows periods. The results of this research show that there is positive reaction on the CEO turnover announcements. This research considers both routine and non routine CEO turnover processes. This research finds that both turnover processes have information content to investor. This research also finds positive reaction on the announcements of outsider incoming CEO, while investors do not react on the announcement of insider incoming CEO. Thus, this research provides evidence that CEO turnover announcement have informationcontent."

"Following the blueprint of the ASEAN integration 2015, the integration of the financial marketsin this region will increase. This study investigates the existence of a volatility spillover from the Singaporeanstock market into Indonesia, including its transmission pattern. Singapore, as an advancedcountry in the ASEAN region, has played an important role as the information leader in the market ofthis region, so that it is very possible that the shocks in the Singapore?s stock market will be transmittedto another stock market in this region. Using TGARCH (1,1) model specification regarding thedata of the daily return of the Indonesia market index (IHSG) for the period of January 2008 ? August2012, it is observed that the shock that took place in the Singapore stock market is immediately transmittedto the Indonesia stock market with two important asymmetric patterns. The transmission ofthe shock from the Singapore stock exchange becomes stronger when this market (1) experiences anegative return, and (2) is in the bearish phase."