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"Abstract. This study aims to analyze the influence of corporate governance structure on underpricing when firms perform an Initial Public Offering (IPO). This study is based on the signaling theory, stating that the existence of proper corporate governance structure at the time the firm conducting IPO will give the firm a high quality signal to potential investors. The corporate governance structure tested includes the size of Board of Commissioners (BOC), the level of independence of the Board of Commissioners, and the existence of an audit committee. The hypothesis testing is done using a multiple regression model with a sample of 95 observations from firms doing IPOs listed on the Indonesia Stock Exchange during the period of 2005-2012. The results of this study provide empirical evidence that: (1) the size of Board of Commissioners is negatively correlated and affects underpricing, (2) the level of independence of the Board of Commissioners has no effect on underpricing, (3) the existence of an audit committee has no effect on underpricing, (4 ) corporate governance structure (the BOC size, the independence of the Board of Commissioners, and the existence of audit committees) simultaneously has a positive and significant correlation to underpricing. Abstrak. Penelitian ini bertujuan untukmenganalisis pengaruhstruktur corporate governance terhadap underpricing pada saat perusahaan melakukan Initial Public Offering (IPO). Penelitian ini didasarkan pada teori sinyal (signaling theory) yang menyatakan bahwa keberadaan struktur corporate governance yang baik pada saat perusahaan melakukan IPO akan memberikan sinyal kualitas perusahaan yang tinggi kepada investor potensial. Struktur corporate governance yang diuji meliputi jumlah anggota dewan komisaris, tingkat independensi dari dewan komisaris, dan keberadaan komite audit. Pengujian hipotesis dilakukan menggunakan model regresi berganda dengan sampel 95 observasi dari perusahaan yang melakukan IPO yang tercatat di Bursa Efek Indonesia selama periode 2005-2012. Hasil penelitian ini memberikan bukti empiris bahwa: (1) jumlah anggota dewan komisaris berkorelasi negatif dan berpengaruh terhadap underpricing, (2) tingkat independensi dari dewan komisaris tidak memiliki pengaruh terhadap underpricing, (3) keberadaan komite audit tidak memiliki pengaruh terhadap underpricing, (4) struktur corporate governance (jumlah anggota dewan komisaris, independensi dewan komisaris, dan keberadaan komite adit) secara simultan memiliki korelasi positif dan signifikan terhadap underpricing."

"Abstract. Ownership structure has a direct relationship with company’s capital structure where the cost of capital is the main component in the calculation of economic value added to measure the value of the firm. This research aims to analyze the effect of ownership structure that consists of managerial ownership, public ownership, institutional ownership, and government ownership on economic value added, used as a measurement of the firm value. This research uses an unbalanced panel data of 182 observations data of all listed companies in the period of 2007-2011 that issued dividend regularly every year during the research’s year. The result shows: (1) managerial ownership has no significant effect on economic value added, (2) public ownership has a significant positive effect on economic value added, (3) institutional ownership has a significant positive effect on economic value added, (4) government ownership has no significant effect on economic value added, (5) ownership structure (managerial ownership, public ownership, institutional ownership, government ownership) simultaneously has a significant positive effect on economic value added.Abstrak. Ownership structure memiliki keterkaitan secara langsung dengan struktur modal perusahaan dimana biaya modal merupakan komponen utama dalam penghitungan economic value added guna mengukur nilai perusahaan. Penelitian ini bertujuan untuk menganalisis pengaruh struktur kepemilikan yang terdiri dari kepemilikan manajerial, kepemilikan publik, kepemilikan institutional, dan kepemilikan pemerintah terhadap economic value added yang digunakan sebagai sebuah pengukuran nilai perusahaan. Penelitian ini menggunakan unbalanced panel data sejumlah 182 data observasi dari sampel seluruh perusahaan yang listed selama periode 2007-2011 dan menerbitkan dividen secara rutin setiap tahunnya selama tahun penelitian. Hasil penelitian menunjukkan bahwa: (1) kepemilikan manajerial tidak memiliki pengaruh signifikan terhadap periode economic value added, (2) kepemilikan public memiliki pengaruh positif secara signifikan terhadap economic value added, (3) kepemilikan institusional memiliki pengaruh positif secara signifikan terhadap economic value added, (4) kepemilikan pemerintah tidak memiliki pengaruh signifikan terhadap economic value added, (5) struktur kepemilikan (kepemilikan manajerial, kepemilikan publik, kepemilikan institusional, kepemilikan pemerintah) secara simultan memiliki pengaruh positif secara signifikan terhadap economic value added."

"Abstract. There is an increasing trend among investors to consider Good Corporate Governance (GCG) in determining company incentives are to be invested in. Obviously, investors would prefer to make INVESTMENTS in companies that adopt Good Corporate Governance rather than otherwise. This view has eventually led to a belief that GCG can give added values not only to the adopting company, but also to the stakeholders. This research analyzes the impacts of family ownership and founding CEO/chairperson on a company?s costs of debt. This topic is chosen in consideration that there are still a lot of family-owned companies in Indonesia. The research uses a positivist-quantitative paradigm and the samples are 64 family-owned companies listed at the Indonesia Stock Exchange from 2007 to 2009. The research also uses a random effect model. The results of the research indicate that family ownership has positive but insignificant impacts, while founding CEO/chairperson has no impacts on a company?s costs of debt."

"Abstract. The aim of this study is to find out if the concentration of the biggest shareholder, the control rights and the ratio ofcash flow rights-control rights of the controlling shareholders contributed to profitability. This study uses purposive samplingtechnique in collecting the data and linear panel regression in analysing the panel data. The result of this study shows that theownership concentration of the biggest shareholders has positive impact to company profitability as big shareholders havebigger incentive and thus better chance to do supervision upon the management. The study also found that the control rightsconcentration of controlling shareholders have negative effect to profitability since more concentrated power of the controllingshareholders made the shareholders position stronger and may incline them to gain individual profit which in turn will reducethe company’s profit. On the contrary, higher ratio of cash flow rights to-control rights contributed positively to profitabilitybecause higher cash flow rights will tend to prevent the controlling shareholders from expropriating the company’s assets."

"The purpose of this research paper is to analyze the implementation of corporate governance at the Regional Development Banks, or locally known as Bank Pembangunan Daerah, in Indonesia. The focus of this study is on the role and the position of the governing body or board as well as the relations between governance in micro context and macro condition in the framework of institutional theory. The kind of paradigm that is used in this research paper is the post-positivist paradigm by using mixed methods. To analyze the implementation of corporate governance, this research paper is using several key actors: BOD's Size, Board of Commissioners Size, Board of Independent Commissioners Size, Audit Committee's Size, Block-holder Ownership, Risk Monitoring Committee, and Nomination and Remuneration Committee. The results of this research paper indicate that Bank Pembangunan Daerah merely fulfill the requirements of important tools in the implementation of corporate governance. In the end, this will influence the manageability of risk management and compliance process. This condition has positioned the importance of the existence of board in the form of both board of commissioners and board of directors in the management and the achievements of the performance of Bank Pembangunan Daerah (BPDs). In the perspective of corporate governance theorizing that is related to the institutional approach, board can be the balancing power in the context of the diversity of agents that display the relationship patterns not only in the micro-level that involve principal, management, and employees, but also in the macro condition such as legal system in the forms of regulations, social and cultural system, and political system in the form of relations between companies and both legislative and executive institutions. This is related to the strong influence of bureaucracy and political institutions that demonstrate the emergence of conflicting objectives and political interference in the management of Bank Pembangunan Daerah. This condition emerges as the consequences of the existence of Bank Pembangunan Daerah as regional-owned enterprises (BUMDs) that has dual functions, namely as a business enterprise that focuses on making profits as well as an agent of regional development and providing services to the public.

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Penelitian ini menganalisis pelaksanaan corporate governance pada Bank Pembangunan Daerah. Kajian difokuskan pada peran dan kedudukan board serta hubungan antara tata kelola pada konteks mikro dan kondisi makro dalam kerangka pendekatan institutional theory. Penelitian ini menggunakan paradigma post positivs dengan menggunakan mix method. Untuk menganalisis pelaksanaan corporate governance, penelitian ini menggunakan proksi: BOD Size, Board of Commisioner Size, Board of Independent Commisioner Size, Audit Commite Size, Blockholder Ownership, Risk Monitoring Committee, dan Nomination and Remuneretion Committee. Hasil penelitian menunjukkan bahwa Bank Pembangunan Daerah baru sebatas memenuhi ketentuan pemenuhan organ-organ penting dalam pelaksanaan corporate governance. Hal ini pada akhirnya mempengaruhi pengelolaan manajemen risiko (risk management) dan compliance process. Kondisi ini memposisikan pentingnya keberadaan board dalam wujud dewan komisaris maupun direksi dalam pengelolaan dan pencapaian kinerja Bank Pembangunan Daerah (BPD). Dalam perspektif teorisasi corporate governance yang terkait dengan pendekatan institusional, board dapat menjadi kekuatan penyeimbang dalam konteks keberagaman aktor (agent) yang menunjukkan pola hubungan tidak saja dalam tataran mikro yang melibatkan pemilik (principal), management, dan pekerja, tetapi juga kondisi makro seperti sistem hukum dalam bentuk regulasi, sistem sosial dan budaya, dan sistem politik dalam bentuk hubungan antara perusahaan dengan lembaga legislatif dan eksekutif. Hal ini berkaitan dengan kuatnya pengaruh birokrat dan institusi politik yang menunjukkan munculnya conflicting objective dan political interference dalam pengelolaan Bank Pembangunan Daerah. Kondisi ini muncul sebagai konsekuensi dari keberadaan Bank Pembangunan Daerah sebagai Badan Usaha Milik Daerah (BUMD) yang memiliki fungsi ganda yaitu sebagai entitas bisnis yang berorientasi pada pencapaian keuntungan dan juga sebagai agent of regional development dan melayani kepentingan masyarakat."

"Hingga saat ini Indonesia masih menghadapi masalah korupsi atas keuangan negara yang masih tinggi meskipun upaya perbaikan sistem laporan keuangan yang berkualitas sudah diterapkan. Di sisi lain, dengan sistem desentralisasi dan pemilihan langsung atas lembaga legislatif dan eksekutif pemerintahan, divided government akan mendorong terjadinya proses checks and balances yang juga dapat mengurangi korupsi. Penelitian ini bertujuan untuk melihat peran sistem pelaporan keuangan sebagai bentuk dari good governance dan peran divided government terhadap korupsi. Dengan tidak menggunakan variabel korupsi yang berupa persepsi karena bersifat subjektif dan cenderung bias, studi ini menggunakan data korupsi yang bersifat inkracht sehingga dapat menggambarkan kasus korupsi yang sebenarnya terjadi.Hasil studi menunjukkan bahwa good governance dengan indikator opini BPK yang diperoleh pemerintah kabupaten/kota belum bersifat substantif menggambarkan penggunaan keuangan negara. Akibatnya korupsi masih tetap terjadi pada wilayah yang sudah memperoleh opini terbaik. Sedangkan divided government yang seharusnya mendorong adanya checks and balances justru memunculkan ruang untuk negosiasi dan membuat peluang terjadinya korupsi semakin besar. Terlepas dari hal itu, upaya pemberantasan korupsi pada era pertama presiden Jokowi lebih baik dibandingkan periode sebelumnya.

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Indonesia still faces the problem of corruption in the country's finances which are still high even though efforts to improve the quality of the financial report system have been implemented. Furthermore, with a decentralized and direct election system of the legislative and executive institutions, divided government will encourage the process of checks and balances which can reduce corruption. This study aims to investigate the role of financial reporting systems as a representation of good governance and the role of divided government against corruption. Instead of using corruption perception variables which are subjective and susceptible to be biased, this study uses inkracht corruption data that can describe corruption cases that actually occur.

The results of the study show that good governance approached by Audit Board of the Republic of Indonesia (Badan Pemeriksa Keuangan - BPK) opinion indicators obtained by district/city governments have not been substantively describing the use of state finances. As a result, corruption still occurs in the regions even for those which have obtained the best opinion. Whereas divided government, which should encourage checks and balances, promotes situations for negotiations and makes the chances of corruption occurring even greater. Despite on that fact, efforts to eradicate corruption in President Jokowi's first era were better than the previous government."

"Abstract. This research focused on the influence of both simultaneous and partial administrative reform towards the community's participation in rural development within the National Program of Rural Self-help Community Empowerment (NPR-SCE) in the Province of West Java. This study used a combination of qualitative and quantitative research methods. The findings of this research revealed that the community's participation increased inthe development of rural areas through four major activities included in the administrative reform. The results of this research aimed at increasing the participation of the community in rural development through administrative reform, which can be introduced and explained by good governance.Abstrak. Penelitian ini difokuskan pada pengaruh reformasi administrasi, baik secara simultan maupun parsial, terhadap partisipasi masyarakat dalam pembangunan pedesaan dalam program nasional pedesaan swadaya masyarakat pemberdayaan (npr-sce) di propinsi jawa barat. Penelitian ini menggunakan metode kombinasi penelitian, yaitu metode kualitatif dan kuantitatif. Temuan penelitian menunjukkan bahwa peningkatan partisipasi masyarakat dalam pembangunan pedesaan melalui reformasi administrasi yang dilakukan terdapat dalam empat kegiatan utama. Hasil penelitian ini adalah meningkatkan partisipasi masyarakat dalam pembangunan pedesaan melalui reformasi administrasi, dapat dijelaskan melalui perkenalan pendekatan tata kelola pemerintahan yang baik."

"This study is motivated by two purposes, first of all it is to observe various analysis of accountability intended to public sector of government and business, while expert's analysis of civil society including non government organization (NGO) is rare. Secondly , to observe the increasing demand of accountability to civil society, in particularly NGO. This study is intended to discuss how the local NGO accountability , YLPMD of Lampung in the perspectives of governance, based on reviewing literature and documentation. This study viewed YLPMD from perspectives of administrative accountability and political accountability."

"Departed from the innovative programs during the period of Joko Widodo in Surakarta that are still made as the model of the local public service reform, this article aims to discover and analyze the innovations of the Municipal Government of Surakarta (as known as Solo), the revitalization of the traditional market and the management of the street vendors, under the leadership of Joko Widodo (known also as Jokowi) as the mayor (2005 ? 2012) by using to Sound Governance Model. The research uses positivist approach through several data collection techniques, such as, in-depth interview with the program performing actors in the local government and the beneficiary actors; observation; and literature review. The data was collected throughout 2012 ? 2013 after Joko Widodo is no longer the incumbent Mayor, in order that the information of the innovations sustainability can be noticed. The outcome was analyzed as univariate and descriptively towards the dimensions of Sound Governance Model. The study suggests that there is a novel approach in running the innovative program of the traditional market revitalization and the street vendors management through an adaptive environmental development without discarding the orientation toward society-empowerment in Surakarta. Even so, the manifestation of the sound governance has not been related to the refinement of the positive impact for the stakeholders like traders, due to lack grounded from their substantive needs, poor performance management, and also the lacking stakeholder engagement in the program monitoring and evaluation. In contrast to previous existing reports, this research also suggests that the coherence between leadership and administrative capacity is inevitable for the sustainability of the innovation practices.

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Berangkat dari program inovasi semasa kepemimpinan Joko Widodo di Surakarta yang tetap dijadikan model bagi reformasi pelayanan bagi masyarakat daerah, artikel ini bertujuan mengungkap dan menganalisis program-program inovasi Pemerintahan Kota Surakarta, revitalisasi pasar tradisional dan penataan pedagang kaki lima (PKL), semasa kepemimpinan Joko Widodo sebagai walikota (2005 ? 2012) menurut Model Sound Governance. Dengan pendekatan positivist melalui teknik pengumpulan data berupa wawancara mendalam terhadap para aktor di pemerintahan kota yang menjalankan program dan aktor penerima manfaat, observasi, dan studi kepustakaan, data dikumpulkan pada kurun waktu 2012 ? 2013 setelah Joko Widodo tidak menjadi walikota agar informasi keberlanjutan program inovasi tampak. Hasilnya dianalisis secara univariat secara deskriptif terhadap dimensi-dimensi Sound Governance. Hasil kajian menunjukkan terdapat kebaruan pendekatan dalam pelaksanaan program inovasi revitalisasi pasar tradisional dan penataan PKL melalui daya adaptif terhadap perkembangan lingkungan tanpa meninggalkan orientasi pada pemberdayaan masyarakat di Kota Surakarta. Pun demikian, manifestasi sound governance tersebut belum bertalian dengan peningkatan dampak positif bagi para pemangku kepentingan, seperti pedagang, karena tidak beranjak dari kebutuhan riil mereka dan kekeliruan pengelolaan kinerja, juga miskin pelibatan dalam monitoring dan evaluasi program. Berbeda dengan kajian dan pemberitaan secara umum, telaah ini juga menunjukkan bahwa koherensi antara kepemimpinan dan kapasitas administrasi menjadi tak terelakkan bagi keberlangsungan praktik inovasi."

"Abstract. Centralized approach is no longer perceived as effective in managing natural resources such as the forest. In line with the good governance movement, practices of forest resource management have changed from one-bureaucratic show into partnership. Consequently, the concept of transparency, accountability, and broader public participations should be institutionalized to improve the sustainability of forest management. By using the experience of Banyumas? forest communities as case studies, this research aims to examine the extent to which the practice of good governance in forest management develops and influences the sustainability of forest management. Since this study was been intended to reveal the process of governance practices at the level of community-based organization, it uses the descriptive-qualitative approach in its analysis. The result of this study shows that participatory forest monitoring, transparency and accountable asset utilization have been practiced by the local forestry organization in their forest management. The researcher also found that strong traditions and local leadership contributes positively to good governance practices by providing cultural dialogue forum, social control and a spirit of volunteering.Abstrak. Sumber daya alam seperti hutan tidak lagi efektif untuk dikelola dengan pendekatan terpusat. Sejalan dengan gerakan pemerintahan yang baik, praktik pengelolaan sumber daya hutan telah berubah dari satu-cara birokrasi kepada cara-cara kemitraan. Akibatnya, konsep transparansi, akuntabilitas, dan partisipasi publik yang lebih luas harus dilembagakan untuk meningkatkan kelestarian hutan. Dengan menggunakan pengalaman masyarakat di hutan Banyumas sebagai studi kasus, penelitian ini bertujuan untuk menguji sejauh mana praktek gerakan pemerintahan yang baikdidalam pengelolaan hutan untuk mengembangkan dan mempengaruhi kesesuaian pengelolaan hutan. Karena penelitian ini telah dimaksudkan untuk mengungkapkan proses praktek tata kelola pada tingkat masyarakat berbasis organisasi, penelitian ini menggunakan pendekatan deskriptif-kualitatif dalam analisisnya. Hasil dari penelitian ini menunjukkan bahwa penyertaan dalam pemantauan hutan , transparansi dan akuntabilitas dalam pemanfaatan aset telah dipraktekkan oleh organisasi kehutanan setempat dalam pengelolaan hutan. Saya juga menemukan bahwa tradisi yang kuat dan kepemimpinan lokal memberikan kontribusi positif bagi praktek tata kelola yang baik dengan menyediakan forum dialog budaya, kontrol sosial dan semangat sukarela."