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"Abstract. The purpose of this study is to know how the profitability (gross profit margin, operating profitmargin, return on asset, return on equity dan return on investment) of PT Adhi Karya, as an object of thisstudy, before and after IPO 2004-2008 period. This research is qualitative descriptive interpretive. The datawere collected from company financial statement 2000 – 2008 which four years before and after the IPO andexcluded 2004 as the year of IPO. The research result showed that only gross profit margin, operating margindan net profit margin which have a better performance after IPO. From Kruskall Wallis test profitability has abetter finance performance after IPO."

"Portfolio is basically related to how one allocates a number of stocks into various investment types that results on optimal profits. By making diversification, investor may reduce the rate of risk and at the same time optimize the rate of expected return. Based on that, this research raises the problem of how to design an optimal portfolio simulation, i.e. a combination of liquid shares LQ 45 listed in Jakarta Stock Exchange (Now is known as Indonesia Stock Exchange, after the merger with Surabaya Stock Exchange) in the period of 2002-2007 by using Single Index Model and Constant Correlation Model. Single Index Model is a model of portfolio analysis using the account of Excess Return to Beta (ERB) Ratio and value of C* to gain optimal shares on portfolio. The procedure of Constant Correlation Model is exactly parallel to the case of Single Index Model. However, unlike in the Single Index Model, all securities are ranked by Excess Return to Standard Deviation (ERS) instead of Excess Return to Risk. After securities are ranked using the above ratio, securities with greater Excess Return to Standard Deviation and Cut off Point (C*) are included into the optimal portfolio."

"Terhadap perusahaan yang ingin mendapatkan pendanaan untuk mengembangkan usahanya selain dari lembaga perbankan atau lembaga keuangan lainnya bisa melalui pasar modal. Dalam menawarkan saham, emiten wajib membuat prospektus yang merupakan informasi secara tulisan yang terkait initial public offering suatu emiten, dimana tujuannya pemegang saham publik tertarik untuk membeli efek atau saham yang dikeluarkan oleh emiten. Dalam menyampaikan prospektus tersebut tentunya wajib memuat informasi dan fakta material yang ditentukan oleh Otoritas Jasa Keuangan dan Bursa Efek Indonesia. Otoritas Jasa Keuangan dan Bursa Efek Indonesia, telah mengeluarkan beberapa pengaturan terkait dengan penyampaian prospektus. Prospektus merupakan dokumen utama bagi pemegang saham publik untuk menentukan apakah akan memesan atau tidak atas efek yang ditawarkan tersebut. Dalam penyampaian prospektus tersebut Otoritas Jasa Keuangan dan Bursa Efek Indonesia berperan untuk memeriksa kecukupan fakta material yang disampaikan dalam prospektus. Begitu juga konsultan hukum pasar modal selaku profesi penunjang pasar modal wajib menyampaikan fakta material dalam prospektus. Sehingga dalam hal Otoritas Jasa Keuangan dan Bursa Efek Indonesia maupun konsultan hukum tidak melakukan kewajibannya maka turut bertanggungjawab atas kelalaian yang dilakukan berdasarkan Pasal 111 Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal. Begitupun pemegang saham publik wajib diberikan perlindungan hukum atas saham yang telah dibeli berdasarkan informasi yang tidak disampaikan oleh emiten dalam prospektus berdasarkan Pasal 30 Undang-Undang Nomor 21 Tahun 2011 Tentang Otoritas Jasa Keuangan dan Pasal 111 Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal.

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For the companies that required funding to develop their business apart from banking institutions or other financial institutions can go through the capital market institutions. In offering shares the prospective issuer must prepare a prospectus which is in writing information related to the initial public offering of an issuer in which the objective of prospective public shareholders will interested in ordering securities or shares issued by the prospective issuer. In submitting the prospectus, the prospective issuer is obliged to fulfill all of the information and material fact determined by Financial Service Authority and Indonesia Stock Exchanges. The Financial Service Authority and Indonesia Stock Exchanges has issued several regulations related to the submission of prospectus. Prospectus is the main document for potential public shareholders to determine whether or not to buy the offered shares. For process of submission of the prospectus, the Financial Service Authority and Indonesia Stock Exchanges in charge of reviewing the fulfillment of material fact in prospectus. Capital market legal consultant as one of the capital market supporting professionals obliged to submit material fact in prospectus. In case that the Financial Service Authority and Indonesia Stock Exchanges and legal consultant did not comply with their obligation, therefore each of them responsible for the default based on Article 111 Law Number 8 Year 1995 on Capital Market. In hence, public shareholders required to have legal protection on shares that have been purchased based on information not submitted by prospective issuers based on Article 30 law number 21 Year 2011 on Financial Service Authority and Article 111 Law Number 8 Year 1995 on Capital Market."

"Abstract. The Indonesian government has attempted to increase the function of excise duty as the source of revenueand consumer goods controller by expanding excise-taxed goods on carbonated soft drinks. This research aimed to learnthe background, the government?s effort, and the revenue potential of carbonated soft drinks. The result showed that theexpanding of the goods are based on their nature and characteristics of excise-taxed goods?regulated in Law No. 39 of2007 as goods whose consumption must be limited, whose distribution must be controlled, and whose usage produces anegative impact on the health of the people and the environment; as well as goods whose usage is taxed for the sake ofjustice. The efforts done by the government are to revise the Excise Law, to conduct a deep study and internal socialization,and to establish accountable human resources. It is hoped that eventually the implementation of excise duty on carbonatedsoft drinks would increase state revenue without at the same time neglecting programs of people?s health improvement."

"Abstract. The first objective of this study is to analyze what kind of sector industry which is selected by foreign investorin Indonesia. Second, to analyze what kind of financial firm characteristic of stocks which is selected by foreign investor.This study used a quantitative approach by using secondary data from financial reports and historical data from IndonesianStock Exchange. Researcher used multivariate regression to analyze the correlation between stocks selected by foreigninvestor with financial firm characteristic. Based on the result, foreign investor are overweight stocks from ConsumerGoods Industry. Dividend yield, beta, and book to market are financial firm characteristic which is significantly influencethe stock selection by foreign investor."

"Abstract. This research examines the behavior of stock returns and trading volumes around the ex-dates of rightsissue offerings by firms listed in Jakarta Stock Exchange (now is known as Indonesia Stock Exchange, after themerger with Surabaya Stock Exchange) in the period of 2002-2007. This research describes the effect of warrantsissue which is combined with some rights issue. The methods of research used are event study, to examine thebehavior of abnormal returns and trading volumes around the ex-dates of rights issue; and regression, to helpdiscriminate among various hypotheses and identify factors that explain the abnormal stock returns associatedwith rights issue. The results are categorized in three sample groups: (1) a group of firms issuing rights withwarrant, (2) a group of firms issuing rights without warrants, and (3) a group of firms issuing rights in between2001-2006. Abnormal returns in this research are associated negatively with the amount of capital raise relativeto existing capital, and positively with the stock returns variance and the offer price as a fraction of firm?s stockprice."

"Abstract. The legal foundation change on the local governance affects the change of status, role, and functionof the sub-district’s head. In the past a sub-district’s head is the person in full charge of an area, however nowhe is only part of local apparatuses who get his authority if there is a delegation from the Regent/Mayor. Toincrease the role of the sub-district head in its area, the local government of Depok did some empowermentefforts. The research aims to analyze the sub-district head empowerment done by the local government ofDepok by doing case study in three sub-districts in Depok, i.e. Beji, Sukmajaya, and Pancoran Mas. Theparadigm of the research is positivistic with qualitative technique of data collecting thorugh in-depth interviewand literature study. The result of the research shows that the empowerment done by the local governmentof Depok is not optimal. The sub-district organization is merely considered complimentary, therefore has lesstrategic authority."

"Abstract. The purpose of this research is to explain whether any impact of recruitment to the selection, the recruitmentimpact to the performance and selection impact to the performance of employee of the General Secretariat ofDepartment of Energy and Mineral Resources. The approach which has been used in this research is descriptiveand data processing by using Structural Equation Modeling (SEM) Technique. The sample of this research is 120employees. The result of this research shows that selection significantly is affected by recruitment and so that theperformance is significantly affected by selection, however, recruitment is indirectly affected the performance byselection process."

"The research aims to analyze the tax incentive policy for the donation given to research and development activities in Indonesia, as stated in Law No. 36 of 2008 on the Income Tax. The research is descriptive and uses qualitative approach. The result of the research shows that the tax incentive policy for the donation given to research and development activities in Indonesia successfully increases the number of donations and therefore support the increase of innovative products of the research and development activities."