A Management Decision Process for Corporate Action

2021 ◽  
Vol 1 (1) ◽  
pp. 56-68
Author(s):  
Jeli nata Liyas
Keyword(s):  
Decision Process ◽  
Product Innovation ◽  
Stock Exchange ◽  
Stock Splits ◽  
Management Decision ◽  
Equal Rights ◽  
Management Decisions ◽  
Public Companies ◽  
Corporate Action ◽  
The Government

Corporate Action namely every action of the issuer that gives equal rights to all shareholders such as Dividends, Right Issues and Stock Splits. Dividend is the distribution of company profits to shareholders based on the percentage of ownership of capital owners. Management decisions in seeking new capital or funds through the stock exchange floor are usually for debt repayment actions, company goals, expansion through product innovation in improving and maintaining company stability for better prospects in the future so as to encourage the government to build a better economy in the next period. Corporate action applies to all companies, not limited to public companies. Several forms of corporate action that are generally carried out by issuers include the distribution of dividends, both cash and shares,

scholarly journals ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KETEPATAN WAKTU PENYAMPAIAN LAPORAN KEUANGAN PADA PERUSAHAAN PROPERTI DAN REAL ESTATE YANG TERDAFTAR DI BEI PERIODE 2016-2018

2020 ◽  
Vol 12 (1) ◽  
pp. 96-108
Author(s):  
Mariya Ulfah ◽  
Penta Widyartati
Keyword(s):  
Real Estate ◽  
Hypothesis Testing ◽  
Stock Exchange ◽  
Financial Statements ◽  
Financial Statement ◽  
Company Size ◽  
Financial Reports ◽  
Public Companies ◽  
Significance Level ◽  
The Government

Timeliness of financial statements has been regulated by the government in accordance with regulations issued by the Otoritas Jasa Keuangan (OJK) which states that public companies are required to submit financial reports no later than the fourth month after the financial year ends. But some companies that are not timely in presenting their financial statements. This study aims to find empirical evidence about the influence of company size, liquidity, profitability, leverage, auditor's opinion, and KAP's reputation on the timeliness of financial statement submission. The population in this study are property and real estate sub-sector services companies listed on the Indonesia Stock Exchange (Bursa Efek Indonesia (BEI)) for the period of 2016-2018, as many as 47 companies. The sample in this study were 35 companies taken by purposive sampling method. The dependent variable is, the timeliness of financial statement submission. While the independent variables in this study are company size, liquidity, profitability, leverage, auditor's opinion, and KAP's reputation. Data collection methods using the method of library research and documentation methods. Hypothesis testing uses logistic regression at a significance level of 5 percent. The results of hypothesis testing indicate that firm size variables significantly influence the timeliness of financial statement submission with a significance value of 0.024 <0.05. Liquidity variable does not affect the timeliness of financial statement submission with a significance value of 0.437> 0.05. The profitability variable does not affect the timeliness of financial statement submission with a significance value of 0.753> 0.05. The leverage variable does not affect the timeliness of the delivery of financial statements with a significance value of 0.512> 0.05. The auditor's opinion variable has a significant effect on the timeliness of the delivery of the financial statements with a significance value of 0.025 <0.05. KAP reputation variable does not affect the timeliness of financial statement submission with a significance value of 0.998> 0.05.

scholarly journals KEPATUHAN PAJAK, NORMA SOSIAL MASYARAKAT , PENEGAKAN HUKUM, DAN MORAL PAJAK PERUSAHAAN AGRO PADA BURSA EFEK DI INDONESIA

2018 ◽  
Vol 2 (1) ◽  
pp. 137
Author(s):  
Yustina Peniyanti Jap
Keyword(s):  
Law Enforcement ◽  
Social Norms ◽  
Public Perception ◽  
Social Norm ◽  
Stock Exchange ◽  
Tax Compliance ◽  
Primary Data ◽  
Public Companies ◽  
The Government ◽  
Tax Payments

Indonesian annual tax receipts in the government budgets are mostly below 100%, indicating that the tax role in fiscal policy has not been satisfactory. Economic growth based on the fiscal policies applied by the Indonesian government is not followed by tax payments by the Indonesians. It indicates that not all of the tax payers complies their payment according to the tax due from the regulations. The purpose of the study is to examine and analyze the effect of social norm, taxation, law enforcement, and moral taxpayer to the tax compliance of agro sector public companies listed on the Indonesia Stock Exchange. The method used is descriptive quantitative and linear regression, using primary data from the responses to questionnaires involving 14 company respondent. Hypothesis testing is done by t-test and F-test using SPSS software. The result of the analysis and discussion demonstrate that social norms taxpayers, law enforcement and taxpayer Moral partially and simultaneously have a positive and significant effect on Compliance on paying taxes. The result also prove that in order to improve taxpayer compliance government can not rely solely on law emforcement (inspections and fines), but there are many other factors that also contribute to determine tax compliance such as social norms and taxpayersmoral which is a reflection of public perception of the administration of taxation and government.  Keywords: tax compliance, social norm, law enforcement, taxpayers moral.   

scholarly journals The The Effect of Audit Firm Age and Audit Tenure on Audit Quality (An Empirical Study on Trusted Company Awardees Listed in Indonesia Stock Exchange 2011-2016)

2019 ◽  
Vol 7 (1) ◽  
pp. 1293-1314
Author(s):  
Judith Gallena Sinaga ◽  
VICTOR C. SINAGA
Keyword(s):  
Audit Quality ◽  
Stock Exchange ◽  
Secondary Data ◽  
Listed Companies ◽  
Firm Age ◽  
Government Regulations ◽  
Public Companies ◽  
Quality Audit ◽  
Audit Firm ◽  
The Government

INTRODUCTION: Indonesia’s go public companies are the backbones of its economy.  As of January 2019, there are 620 listed companies in Indonesia Stock Exchange. The Indonesian Institute for Corporate Directorship yearly acknowledges listed companies and gives award categorized as the most trusted, trusted and fairly trusted companies every year.  This study aimed to explain the effect of audit firm age and audit tenure on audit quality for the trusted company awardees from 2011-2016.    METHOD: An explantory method is used in this study since it depicts the cause and effect relationship.  Data gathered will be processed,analyzed, presented, interpreted and concluded in a way that it will clarifies the matters about audit firm age and audit tenure on audit quality. There were 36 firm year observation as sample which was derived the companies that were awarded for six consecutive years.  A multivariate analysis was used in processing and analyzing the secondary data.    RESULTS: The findings partially showed that audit firm age has no significant effect on audit quality while audit tenure showed that there is a significant effect on audit quality.  In addition to the findings mentioned, it simultaneously showed that audit firm age and audit tenure on audit quality.       DISCUSSION AND RECOMMENDATION: When the two variables are combined it affects the audit quality.  This means that the two variables, audit firm age and audit tenure should go hand in hand together in achieving audit quality.   Audit firm age, although not significant, must be taken into consideration.  The longer the firm, it is expected to increase audit quality.  Audit tenure has to do with objectivity in which it will lead to audit quality.  Long tenure is avoided by following the government regulations.  As much as possible, in every audit engagement, audit work must appear to be very objective, unbiased, and impartial thus resulting to high audit quality.  As for recommendation, researcher must add more samples in order to be more representative.  Also, other variables may be taken into consideration as a proxy for audit quality.     Keywords: Indonesian Institute for Corporate Directorship, most trusted, audit firm age, audit tenure  

Corporate governance implementation rating in Indonesia and its effects on financial performance

2017 ◽  
Vol 17 (2) ◽  
pp. 250-265 ◽  
Author(s):  
Agus Wahyudin ◽  
Badingatus Solikhah
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Positive Impact ◽  
Stock Exchange ◽  
Market Performance ◽  
Continuous Assessment ◽  
Public Companies ◽  
Content Type ◽  
The Government ◽  
And Performance

Purpose The purpose of this paper is to investigate the effect of corporate governance (CG) implementation rating conducted by the Indonesian Institute for Corporate Governance (IICG) on the financial performance of the selected companies. Design/methodology/approach This paper is a hypothesis testing study to analyze CG implementation of 88 firms listed on the Indonesian Stock Exchange. The samples are companies that participated in the Corporate Governance Perception Index (CGPI) Awards in 2008-2012. A panel data regression analysis is conducted on the data collected from IICG reports and its financial statements. Findings The awareness regarding good corporate governance (GCG) enforcement in Indonesian companies has already increased. The listed companies that participated in CGPI Awards during 2008-2012 always experience an increase in both quantity and quality. CG rating of go-public companies in Indonesia affects their accounting-based financial performance, such as return on assets, return on equity and earnings per share. However, CG implementation rating is not directly responded by the Indonesian stock market and has not yet been able to increase the company’s growth in the short term. Research limitations/implications In this study, CGPI rating in a related year is linked to market performance in the same year. Thus, further research may link CGPI rating to market performance in the next year, as the findings of this study show that GCG implementation is not directly responded by the market. Practical implications GCG implementation is required by stakeholders, as it may give a long-term positive impact. Thus, the government needs to stipulate regulations to increase the commitment of the company in implementing GCG. The company can improve the internal factors of the organization that does not support the establishment of GCG based on the findings during the survey of CGPI. Finally, investors and creditors may consider the CGPI rating for their investment decisions. Originality/value This study contributes to the literature in two ways. First, this study uses the comprehensive CG rating in Indonesia. Previous studies on CG rating focused on internal mechanism; in this study, the rating was assessed using four stages of continuous assessment: self-assessment, document evaluation, paper assessment and company visit, which was conducted by an independent team. Second, this study uses the CG index (compliance, conformance and performance) associated with a variety of accounting-based and market-based performance variables: financial performance, market value and growth.

ANALISIS PENGARUH ROE, UKURAN PERUSAHAAN, TINGKAT INFLASI DAN TINGKAT KURS TERHADAP RETURN SAHAM

2019 ◽  
Vol 1 (1) ◽  
pp. 99-107
Author(s):  
Frihardina Marsintauli
Keyword(s):  
Exchange Rate ◽  
Stock Returns ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Secondary Data ◽  
Positive Influence ◽  
Infrastructure Development ◽  
Public Companies ◽  
Return On Equity ◽  
The Government

The infrastructure development is one of the supporting factors in the movement of a economic country. For over the past four years, the government has been focus on building transportation infrastructure and utilities as they believe that expanding infrastructure can contribute to economic growth and investment later. There is an increase in companies in the infrastructure, utilities and transportation sectors from 2016 to 2018, there were an increase in 24 public companies. This proves that investment in the infrastructure, utilities and transportation sectors is considered to be very proftable for investors. The purpose in this study is to empirically study the effect of fnancial performance (Return On Equity), size, inflation rate and exchange rate on stock returns of infrastructures, utilities and communications company listed on the Indonesia Stock Exchange in observations from 2016-2018 using multiple regression method with SPSS. This study is using secondary data from Indonesia Stock Exchange (JSX) Yearly Statistics, ofcial website of Bank Indonesia, website Yahoo Finance on 2016-2018. Population research consists of 75 listed companies and fnal result with purposive sampling method for this research by using 24 companies. The hypothesis test result showed that ROE have positive influence to stock return and on the other hand there is no signifcantly influence for size’s company, inflation and exchange rate.

Rencana Aksi Korporasi private placement yang Dilakukan oleh PT. SLJ GLOBAL, Tbk. terhadap CARRIEDO Limited

2020 ◽  
Vol 2 (2) ◽  
pp. 215
Author(s):  
Arvi Alvianda
Keyword(s):  
Development Strategy ◽  
Research Method ◽  
Business Development ◽  
Public Companies ◽  
Share Ownership ◽  
Private Placement ◽  
Corporate Action ◽  
Percentage Share ◽  
Rights Issue ◽  
Debt Payment

One of the most important elements in the framework of the business development strategy of public companies (issuers) is the addition of capital. The addition of capital can be done in two ways, namely Capital Increase by providing Pre-emptive Rights and Capital Additions without Giving Pre-emptive Rights. Providing Rights is the same as Rights Issue, while without giving Rights can be equated with Private Placement. However, generally people are more familiar with calling private placement with the term Right Issue without Preemptive Rights. Arrangements regarding Preemptive Rights are regulated in POJK No.32/POJK.04/2015 concerning Addition of Company Capital By Providing Pre-emptive Rights, while without providing Preemptive Rights is regulated in POJK No.38/POJK.04/2014 concerning Capital Increase of Public Companies without Giving Pre-emptive Rights. The research method is used a normative juridical method. The research specifications are used descriptive-analytical. From the results of the study it can be concluded that the Capital Increase without Giving Preemptive Rights is carried out by PT. SLJ GLOBAL Tbk, by issuing new shares to creditors as a form of debt payment is one of the best ways for the Company. This method proved to be able to reduce debt and increase the paid up capital of the Company, as well as making the Creditor as a new shareholder. However, corporate action through the issuance of new shares without giving HMETD, so that there are additional new investors, resulting in a percentage share ownership of each of the existing shareholders has decreased. (Dilution).

JUSTICE AND SOCIAL CHANGE FOR INCLUSIVE EDUCATION IN INDONESIA AND ASEAN FOR DISABLED PERSONS (STUDY ON PEOPLE AFFECTED BY LEPROSY)

2017 ◽  
Vol 1 (1) ◽  
pp. 1-5
Author(s):  
Nuah Perdamenta Tarigan ◽  
Christian Siregar ◽  
Simon Mangatur Tampubolon
Keyword(s):  
Inclusive Education ◽  
Local Governments ◽  
Disabled Persons ◽  
Equal Rights ◽  
Central Java ◽  
The People ◽  
Asean Countries ◽  
The Government ◽  
The Moment ◽  
The Right

Justice that has not existed and is apparent among the disabilities in Indonesia is very large and spread in the archipelago is very large, making the issue of equality is a very important thing especially with the publication of the Disability Act No. 8 of 2016 at the beginning of that year. Only a few provinces that understand properly and well on open and potential issues and issues will affect other areas including the increasingly growing number of elderly people in Indonesia due to the increasing welfare of the people. The government of DKI Jakarta, including the most concerned with disability, from the beginning has set a bold step to defend things related to disability, including local governments in Solo, Bali, Makassar and several other areas. Leprosy belonging to the disability community has a very tough marginalization, the disability that arises from leprosy quite a lot, reaches ten percent more and covers the poor areas of Indonesia, such as Nusa Tenggara Timur, Papua, South Sulawesi Provinces and even East Java and West Java and Central Java Provinces. If we compare again with the ASEAN countries we also do not miss the moment in ratifying the CRPD (Convention of Rights for People with Disability) into the Law of Disability No. 8 of 2016 which, although already published but still get rejections in some sections because do not provide proper empowerment and rights equality. The struggle is long and must be continued to build equal rights in all areas, not only health and welfare but also in the right of the right to receive continuous inclusive education.

Pengaruh Intellectual Capital, Profitabilitas, Dan Leverage Terhadap Nilai Perusahaan Pada Perusahaan Sektor Properti, Real Estate, Dan Konstruksi Bangunan Yang Terdaftar Di Bursa Efek Indonesia

2018 ◽  
Vol 9 (2) ◽  
pp. 1-14
Author(s):  
Haryani Chandra ◽  
Hamfri Djajadikerta
Keyword(s):  
Real Estate ◽  
Intellectual Capital ◽  
Firm Value ◽  
Stock Price ◽  
Stock Exchange ◽  
Value Added ◽  
Simple Random Sampling ◽  
Positive Influence ◽  
Public Companies ◽  
Equity Ratio

Go public companies have main purpose to increase firm value consistently. Increased firm value can reflect the increase in the prosperity of shareholders. The purpose of this research is to determine whether intellectual capital, profitability, and leverage have an influence on firm value. This research is expected to help companies to determine the focus on managing the factors those have an influence towards firm value and help investors and potential investors to make investment decisions. This research is conducted on firms listed in property, real estate, and building construction sector in Indonesia Stock Exchange during 2010 until 2015. Samples are selected by simple random sampling method. The research method used is the regression analysis. Intellectual capital is measured by value added intellectual coefficient (VAIC), profitability is measured by return on assets (ROA), leverage is measured by debt- to-equity ratio (DER), and firm value is measured by the year-end closing stock price. The results showed that intellectual capital, profitability, and leverage have partially a significant positive influence on firm value. In addition, intellectual capital, profitability, and leverage have significant influence simultaneously on firm value. Keywords: firm value, intellectual capital, leverage, profitability

scholarly journals Special Solicitude: Religious Freedom at America’s Public Universities

Laws ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 30
Author(s):  
William E. Thro
Keyword(s):  
First Amendment ◽  
Religious Freedom ◽  
Public Universities ◽  
Religious Organizations ◽  
Equal Rights ◽  
Religious Groups ◽  
Religious Expression ◽  
University Campuses ◽  
The Supreme Court ◽  
The Government

Rejecting the Obama Administration’s argument that the First Amendment requires identical treatment for religious organizations and secular organizations, the Supreme Court held such a “result is hard to square with the text of the First Amendment itself, which gives special solicitude to the rights of religious organizations.” (Hosanna-Tabor, 565 U.S. at 189). This “special solicitude” guarantees religious freedom from the government in all aspects of society, but particularly on public university campuses. At a minimum, religious expression and religious organizations must have equal rights with secular expression and secular organizations. In some instances, religious expression and religious expression may have greater rights. The Court’s 2020 decisions in Espinoza v. Montana Department of Revenue, and Our Lady of Guadalupe School v. Morrissey-Berru, reinforce and expand the “special solicitude” of religion. Indeed, Espinoza and Our Lady have profound implications for student religious groups at America’s public campuses. This article examines religious freedom at America’s public universities. This article has three parts. First, it offers an overview of religious freedom prior to Espinoza and Our Lady. Second, it briefly discusses those two cases. Third, it explores the implications of those decisions on America’s public campuses.

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