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"Pada artikel ini, saya menguji hubungan antara institutional ownership dan tingakatan corporate social performance untuk beberapa negara berkembang di Asia Tenggara. Berdasarkan beberapa artikel yang telah diuji sebelumnya, bagaimana institutional ownership mempengaruhi tingkatan corporate social performance diukur bedasarkan data yang tersedia di Asset4 database dan beberapa indikator yang berbeda untuk mengukur variabel dependen, corporate social performance, dan menguji variabel independen berdasarkan spesifikasi dari setiap indikator dari data yang didapatkan dari ORBIS database. Artikel ini menyumbangkan hasil mengenai hubungan antara institutional ownership kepada corporate social performance. Hubungan tersebut dianalisa lebih dalam dengan membandingkan mengenai beberapa tipe penanam modal institusi yang berbeda dan dipidahkan kedalam dua kategori, yaitu pressure-sensitive atau pressure-insensitive juga lokasi geografis dari setiap investor. Artikel ini memberikan hasil bahwa banyaknya jumlah penanam modal internasional memiliki pengaruh yang positif kepada corporate social performance. Penanam modal internasional yang bersifat Pressure-sensitive tidak memiiki efek corporate social performance.

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In this article, I examine the relationship between institutional ownership and the level of corporate social performance for several emerging countries in Southeast Asia. Basing upon several articles, how institutional ownership affects the level of corporate social performance is measured by using data from the Asset4 database and several other indicators to measure the dependent variable, corporate social performance, and examining the independent variable based on specifications of each indicator of the data obtained from ORBIS database. The article provides conclusions pertaining to the significant relationship of institutional ownership towards corporate social performance. This relationship is analyzed even further for different types of institutional investors based on two categories, whether they are pressure-sensitive or pressure- insensitive and their geographic locations. Further findings conclude that that a larger proportion of foreign institutional investors are positively correlated with corporate social performance. Moreover, pressure-sensitive institutional investors will have no impact to corporate social performance."

"Skripsi ini membahas peran Komite Audit dan Audit Internal dalam perwujudan good corporate governance pada salah satu BUMN di Indonesia, yaitu PT Wijaya KaryaTbk. Penelitian ini adalah penelitian kualitatif dengan desain deskriptif. Pendekatan yang dilakukan adalah dengan metode studi pustaka serta melakukan wawancara terstruktur kepada beberapa organ perusahaan yang menjadi sorotan dalam pembahasan. Hasil dari penelitian penulis adalah bahwa Komite Audit dan Audit Internal di PT Wijaya Karya Tbk. telah melaksanakan tata kelola perusahaan yang baik sesuai dengan standar yang ditetapkan oleh Kementerian BUMN dan Bapepam. Selain itu, Komite Audit dan Audit Internal WIKA telah memiliki koordinasi kerja yang sangat baik dalam menjalankan tugas-tugasnya.

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This study discusses the role of Audit Committee and Internal Audit in the embodiment of good corporate governance in one of SOEs in Indonesia, namely PT Wijaya Karya Tbk. This study is a qualitative research with descriptive design. The approach taken is using literature study method and conducting structured interview to several company organs which are highlighted in this study. The result of this study that WIKA has already implemented good corporate governance in accordance with standards established by Ministry of SOEs and Indonesia Capital Market Supervisory Agency. In addition, the Audit Committee and Internal Audit WIKA has a very good job of coordination in carrying out their duties."

"This research investigated whether corporate governance mechanism affects the firm's bond rating in Indonesia. Specifically, investigation on whether corporate governance components, which are represented by ownership structure and influence, financial transparency and disclosure and board structure, affect the firm's bond rating.This research used several corporate governance mechanisms developed by Bursa Efek Jakarta and bond rating classification developed by Pefindo andKasnic. Ordered logit model is selected to test the research problem.Using firm s characteristic as controlling variable, this research found that the firm s bond rating is: (1) negatively associated with the number of block holders that own at least 5% ownership on the firm; (2) positively associated with percentage of institutional ownerships- (3) positively associated with the size of public accounting firm, and (4) positively associated with existence of audit committee. The relationship between percentage of insider, board size and percentage of independent board with bond rating is not supported by empirical data."

"ABSTRAKThe purpose of our study is to empirically investigate the relation betweencertain corporate governance mechanisms and the likelihood of a companyhaving accounting problem, as evidenced by a misstatement of its earnings.We use public listed firms in JSE as our sample, with total samples of 160firms-years. Our study finds that proportion of independent board, proportion ofinstitutional ownership, and audit quality is significantly have negativerelationship with the probability of restatement. These results suggest that thosegovernOJtce mechanisms are able to prevent misstated financial misstatement.But, we find that three governance mechanisms board size, existence of auditcommittee, and block holders - do not have significant relationship with theprobability of restatement.Keywords: restatement, corporate governance, independent board, board size,audit committee, institutional ownership, block holders, audit quality."

"Financial statement fraud has cost market participants, including investors, employees, creditors, andpensioners. Capital market participants expect active and vigilant corporate governance to ensure the quality,integrity, and transparency of financial information. Financial statement fraud is a serious threat to marketparticipants? confidence in published audited financial statements. Financial statement fraud has recentlyreceived considerable attention from the business community, accounting profession, academicians, andregulators. This paper sheds light on the factors that may increase the likelihood of financial statement fraud.This study empirically tests the impact of board of commissioners and audit committee effectiveness, ownershipstructure, bank monitoring, and the firm life cycle on the probability of accounting fraud. Hypothesis testingwas carried out by using logistic regression model using fraud data from BAPEPAM-LK (Indonesia StockExchange Supervisory Agency) during the years of 2005-2011. The result of this study indicates that theaudit committee effectiveness and controlled family ownership reduce the fraud probability. However, theeffectiveness of board commissioners, foreign ownership, bank monitoring, and the firm life cycle do not haveany effect on fraud probability.AbstrakKecurangan pelaporan keuangan menimbulkan kerugian bagi pelaku pasar, antara lain investor, pegawai,kreditur. Kecurangan ini juga merupakan ancaman yang serius bagi para pelaku pasar modal. Pelaku pasar modalmengharapkan laporan keuangan yang transparan, berkualitas, dan dapat dipercaya integritasnya. Penelitianini bertujuan menguji pengaruh efektifitas peran dewan komisaris dan komite audit, struktur kepemilikan,peran monitoring bank, dan siklus hidup perusahaan terhadap probabilita terjadinya kecurangan pelaporankeuangan. Pengujian hipotesis dilakukan dengan menggunakan metode regresi logistik dengan menggunakandata sanksi yang dikenakan pada perusahaan yang melakukan kecurangan pelaporan keuangan, yang diperolehdari Bapepam-LK dari tahun 2005 sampai dengan 2011. Hasil penelitian ini menunjukkan bahwa efektifitasperan komite audit dan struktur kepemilikan keluarga berpengaruh negatif terhadap probabilita terjadinyakecurangan pelaporan keuangan. Hal ini mengindikasikan efektifitas komite audit dan kepemilikan yangdikendalikan oleh keluarga dapat mengurangi probabilita terjadinya kecurangan pelaporan keuangan. "

"Penelitian ini bertujuan untuk menguji negative entrenchment dan alignment effect pemegang saham pengendali akhir terhadap tingkat pengungkapan sukarela serta efektifitas dewan komisaris dan komite audit terhadap pengaruh negative entrenchment effect atas tingkat pengungkapan sukarela. Penelitian ini menggunakan sampel dari perusahaan manufaktur yang terdaftar di BEI tahun 2012-2013. Hasil penelitian menunjukkan adanya pengaruh negatif dan signifikan dari entrenchment effect yang menurunkan tingkat pengungkapan sukarela, serta menunjukkan bahwa alignment effect tidak berpengaruh signifikan terhadap tingkat pengungkapan sukarela. Hasil penelitian juga menunjukkan efektifitas dewan komisaris dan komite audit tidak terbukti memperlemah hubungan negative entrenchment effect dengan tingkat pengungkapan sukarela.

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This research aims to examine the negative entrenchment and alignment effect of the ultimate controlling shareholders on the level of voluntary disclosure as well as board of commissioner and audit committee effectiveness on the relationship of negative entrenchment effect with the level of voluntary disclosure. This research used a sample of companies listed on the Indonesia Stock Exchange in 2012-2013.

The results of this research indicate a negative and significant influence of the entrenchment effect that lowers the level of voluntary disclosure, and show that alignment effect does not significantly influence the level of voluntary disclosure. The research also showed the board of commissioner and audit committee effectiveness are not proven that negative entrenchment effect weakens the level of voluntary disclosure."

"Penelitian ini bertujuan untuk menginvestigasi hubungan antara aktivitas transfer pricing yaitu pengeluaran research and development, multinasionalitas, dan pemanfaatan tax haven serta efektivitas komite audit terhadap transfer pricing aggressiveness. Transfer Pricing Aggressiveness dalam penelitian ini diperlihatkan oleh aktivitas-aktivitas yang dilakukan perusahaan secara terstruktur untuk menghindari pajak perusahaan secara grup dalam jumlah besar. Kegiatan transfer pricing yang agresif tercermin dari banyaknya transaksi yang tidak arm?s length antara pihak-pihak terkait. Transfer pricing yang agresif ini ditunjukkan dengan menggunakan indeks transfer price yang merupakan pengungkapan atas transaksi-transaksi yang berkaitan dengan transfer pricing dengan pihak berelasi. Sampel penelitian ini menggunakan perusahaan multinasional non keuangan yang terdaftar di BEI pada rentang tahun 2011 hingga 2013. Hasil penelitian membuktikan bahwa aktivitas transfer pricing yang ditandai dengan adanya pengeluaran research and development memiliki pengaruh secara negatif terhadap transfer pricing aggressiveness. Sementara itu, multinasionalitas dan pemanfaatan tax haven terbukti memiliki pengaruh secara positif terhadap transfer pricing aggressiveness. Hasil penelitian juga membuktikan bahwa efektivitas komite audit terbukti memiliki pengaruh negatif terhadap transfer pricing aggressiveness.

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This research aims to investigate the relationship between transfer pricing activities, which are the research and development expenditure, multinationalities, and the utilization of tax havens as well as the effectiveness of the audit committee against the transfer pricing aggressiveness.

Transfer pricing aggressiveness in this study are shown by the activities of the companies, which are structured to avoid corporate tax group in large numbers. Aggressive transfer pricing activities reflected in the number of transactions that are not arm's length between related parties. Transfer pricing aggressiveness is shown by transfer pricing index, which is the disclosure of transactions relating to transfer pricing with related parties. The sample of this research is multinational companies that are listed in the Indonesian Stock Exchange from 2011 to 2013.

The results prove that the transfer pricing activity characterized by the research and development expenditure have a negative influence on transfer pricing aggressiveness. Meanwhile, multinationalities and utilization of tax havens have a positive influence on transfer pricing aggressiveness. The results also demonstrate that the effectiveness of the audit committee proved to have a negative effect on transfer pricing aggressiveness."

"Penelitian ini bertujuan untuk mengetahui kinerja portofolio saham Sustainable and Responsible Investment (SRI) di Bursa Efek Indonesia (BEI). SRI adalah suatu konsep dimana investor tidak hanya mempertimbangkan kinerja keuangan, namun juga aspek non-keuangan pada perusahaan seperti Environmental, Social, and Governance (ESG). Apakah kinerja portofolio SRI di BEI lebih baik dibandingkan dengan kinerja portofolio konvensional dan portofolio syariah? Pada penelitian ini akan dibentuk portofolio SRI dari indeks Sri-Kehati (SRI), portofolio konvensional dari indeks LQ45, dan portofolio syariah dari Jakarta Islamic Index (JII). Kinerja tiga portofolio tersebut akan dibandingkan berdasarkan nilai alpha yang diperoleh dari Capital Asset Pricing Model (CAPM), Fama and French Three Factor Model (FF3F), dan Fama and French Five Factor Model (FF5F), juga berdasarkan rasio sharpe, rasio treynor dan rasio sortino. Hasil penelitian ini menunjukkan bahwa kinerja potofolio SRI di BEI lebih baik dibandingkan dengan kinerja portofolio konvensional dan portofolio syariah. Kinerja yang baik tersebut terjadi karema rata-rata excess return portofolio SRI yang bernilai positif selama periode penelitian.

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This study aims to determine the performance of the Sustainable and Responsible Investment (SRI) stock portfolio on the Indonesia Stock Exchange (BEI). SRI is a concept in which investors not only consider financial performance, but also non-financial aspects of companies such as Environmental, Social, and Governance (ESG). Is the performance of the SRI portfolio on the IDX better than the performance of conventional portfolios and sharia portfolios? In this study, an SRI portfolio from the Sri-Kehati index (SRI) will be formed, a conventional portfolio from the LQ45 index, and a sharia portfolio from the Jakarta Islamic Index (JII). The performance of the three portfolios will be compared based on the alpha value obtained from the Capital Asset Pricing Model (CAPM), Fama and French Three Factor Model (FF3F), and Fama and French Five Factor Model (FF5F), also based on the sharpe ratio, treynor ratio and ratio sortino. The results of this study indicate that the performance of the SRI portfolio on the IDX is better than the performance of conventional portfolios and sharia portfolios. This good performance occurs because the average excess return of the SRI portfolio is positive during the study period."

"Penelitian ini bertujuan untuk menguji secara empiris pengaruh manajemen laba akrual terhadap likuiditas saham. Penelitian ini juga bertujuan untuk menguji peranan mekanisme pengawasan perusahaan yaitu efektivitas corporate governance dan spesialisasi auditor terhadap hubungan tersebut. Sampel yang digunakan adalah 176 perusahaan non-keuangan yang terdaftar di Bursa Efek Indonesia pada tahun 2010-2012 dengan menggunakan regresi data panel. Hasil penelitian ini menunjukkan manajemen laba akrual bersifat oportunistik sehingga berpengaruh negatif terhadap likuiditas saham. Hasil penelitian ini juga menunjukkan bahwa corporate governance yang berkualitas mengurangi pengaruh negatif manajemen laba akrual terhadap likuiditas saham. Sedangkan auditor spesialis tidak terbukti mempengaruhi hubungan tersebut. Hal ini mengindikasikan peran corporate governance penting dalam mengurangi (mendorong) manajemen laba akrual yang oportunis (efisien) sehingga meningkatkan likuiditas saham perusahaan.

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This study aimed to empirically examine the effect of accrual earnings management on stock liquidity. This study also aimed to examine the role of the company's monitoring with the effectiveness of corporate governance and auditor specialist on this relationship. The samples used were 176 non-financial companies listed on the Indonesia Stock Exchange in 2010-2012 using panel data regression. The result of this study indicate that accrual earnings management are opportunist as negatively affect on stock liquidity. The results of this study also indicate that corporate governance reduce the negative relationship of accrual earnings management and stock liquidity. While there is no evidence that auditor specialist affect that relationship. This indicates the role of corporate governance are important in reducing (push) opportunistic (efficient) accrual earnings management thereby increasing stock liqudity."

"ABSTRAKPenelitian ini bertujuan untuk meneliti pengaruh manajerial overconfidenceterhadap imbal jasa audit di Indonesia. Penelitian ini juga menguji pengaruhkomite audit sebagai variabel pemoderasi dampak manajerial overconfidenceterhadap imbal jasa audit di Indonesia. Manajerial overconfidence adalah manajeryang memprediksi arus kas yang terlalu optimistis atau terlalu meremehkankemungkinan rugi perusahaan. Sampel yang digunakan adalah perusahaan yangterdaftar di Bursa Efek Indonesia pada tahun 2014 dan 2015. Hasil penelitian inimenunjukan bahwa manajerial overconfidence terbukti berpengaruh negatifterhadap imbal jasa audit di Indonesia karena hubris effect atas pelaporankeuangan mendominasi efek risiko pelaporan keuangan. Komite audit tidakterbukti mampu berperan sebagai pemoderasi pengaruh manajerial overconfidenceterhadap imbal jasa audit di Indonesia.

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ABSTRACTThis purpose of this study is to provide empirical evidence about the effectmanagerial overconfidence on audit fee in Indonesia. This research also examinesthe influence of audit committee as the moderator effect of managerialoverconfidence on audit fee in Indonesia. Managerial overconfidence is managerstend to overestimate the projected future cash flows of projects but underestimatethe impact of adverse events. Sample in this study is listed firms on IndonesiaStock Exchange on 2014 and 2015. This result showed that managerialoverconfidence has negative effect on audit fee in Indonesia because the hubriseffect dominates the financial reporting risk effect. There is no evidence that auditcommittee can act as a moderating effect of managerial overconfidence on auditfee in Indonesia."