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"Penelitian ini menginvestigasi efek dari mekanisme corporate governance terhadap rating sukuk. Proksi dari mekanisme corporate governance adalah blockholders, kepemilikan institusional, kepemilikan insider, kualitas audit, komite audit, jumlah dewan komisaris dan persentase dewan komisaris independen. Proksi tersebut merupakan variable independen dimana variable dependen nya merupakan rating sukuk. Model ordered logistic regression (logit) digunakan untuk menguji hipotesis. Sampel penelitian adalah sukuk yang dikeluarkan perusahaan pada periode 2005 - 2012, dan data diambil dari Bursa Efek Indonesia dan PT Pefindo. Hasil penelitian empiris menemukan bahwa komite audit mempengaruhi secara signifikan pada rating sukuk perusahaan. Untuk meningkatkan rating dari sukuk, penelitian ini merekomendasikan bahwa keberadaan dari komite audit menjadi perhatian serius bagi perusahaan yang mengeluarkan sukuk dalam meningkat kan rating sukuk

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This study investigated the effect of corporate governance mechanism to sukuk ratings. The proxies of corporate governance are blockholders, institutional ownership, insider ownership, quality of audit external, audit committees, number of commissioner, and percentage of independent commissioners. Those proxies are independent variables, and the dependent variables are sukuk rating. Ordered Logistic regression (logit) is used to examine the hipothesis. The samples are sukuk that issued on period 2005-2012, and data are collected from Indonesia Stock Exchange and PT Pefindo.

The results of empirical studies have found that the audit committee as an indicator of corporate governance mechanisms affect the rating of corporate sukuk significantly. To be able to increase the rating of the sukuk is the study recommends that the existence of audit committees must be a serious concern for companies that issue a sukuk in improving the rating of the sukuk."

"Penelitian ini menguji pengaruh mekanisme corporate governance terhadap peringkat surat utang yang diterbitkan oleh perusahaan di Indonesia yang bergerak pada sektor industri perbankan dan keuangan. Tata kelola perusahaan dilihat dari segi efektivitas peran organ dewan komisaris dan komite audit yang dinilai menggunakan checklist scoring. Komponen yang dinilai terdiri atas segi independensi, aktivitas, ukuran, dan kompetensi. Penelitian ini menggunakan peringkat surat utang yang dikeluarkan PT Pefindo sebagai lembaga pemeringkat. Berdasarkan sampel perusahaan tahun 2010-2015 sebanyak 130 observasi, hasil pengujian dari model ordererd logit menunjukkan terdapat hubungan positif signifikan peringkat surat utang dengan tata kelola perusahaan.

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This research examined the effect of corporate governance mechanism on the firms bond rating in Indonesia, specifically on banking and financial industries. The corporate governance viewed in terms of board of commissioners and audit committee's effectiveness then assessment based on questions checklist scoring. Scoring components consisted of independence, activity, size, and competence.

This study used bond rating issued by PT Pefindo as a rating agency. Based on sample of 130 firm-year during 2010-2015, the results of ordered logit model showed strong evidence for a positive relationship between bond rating and corporate governance."

"Penelitian ini bertujuan untuk menganalisis pengaruh mekanisme corporate governance yang diproksikan dengan kepemilikan institusional, kepemilikan block (lebih dari 5%), dewan komisaris independen, kepemilikan manajerial, ukuran dewan komisaris, komite audit, dan kualitas audit berpengaruh terhadap peringkat obligasi korporasi pada perusahaan yang terdaftar di bursa efek indonesia periode 2007 - 2011. Penelitian ini menggunakan data panel sejumlah 70 observasi dengan pengujian model menggunakan ordered probit. Penelitian ini membuktikan bahwa blockholder (dengan kepemilikan saham minimal 5%), ukuran dewan komisaris, ukuran perusahaan, dan return on asset berpengaruh signifikan terhadap peringkat obligasi. Penelitian tidak membuktikan adanya pengaruh signifikan di antara kepemilikan saham institusional, kepemilikan saham manajerial, persentase dewan komisaris independen, ukuran komite audit, kualitas audit, dan leverage terhadap peringkat obligasi.

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This study analyzes the effect of corporate governance mechanisms are proxied by institutional ownership, block ownership (more than 5%), independent board, managerial ownership, board size, audit committee, and audit quality effect on corporate bond ratings of companies listed on the Indonesian Stock Exchange in 2007-2011 period. This study uses panel data to test a number of 70 observations using an ordered probit models.

This study proves that blockholder (own at least 5% of shares), board size, firm size, and return on assets have significant effect on bond ratings. This study does not prove the existence of significant effect among institutional ownership, managerial ownership, the percentage of independent board, audit committee size, audit quality, and leveraged on bond rating."

"[Penelitian ini bertujuan untuk menganalisis pengaruh peringkat corporate governance terhadap kinerja keuangan periode 2008-2012. Pengujian ini dilakukan menggunakan metode regresi data panel, dimana variabel dependen adalah kinerja keuangan yang diproksikan oleh earning per share, Return on Assets, dan Return on Equity sedangkan peringkat corporate governance sebagai variabel independen. Terdapat tiga model dalam penelitian ini, yaitu menggunakan nilai dari masing-masing variabel dependen. Hasil penelitian pada model pertama menunjukkan bahwa peringkat corporate governance tidak memiliki pengaruh yang signifikan terhadap kinerja keuangan perusahaan. Model kedua dan ketiga memiliki pengaruh yang signifikan terhadap kinerja keuangan.

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The aim of this study is to analyze the effect of the corporate governance rating on firm performance in 2008-2012. Hypotheses were tested using the estimation

method of panel data whereby the dependent variable is the firm performance, which uses earning per share, return on assets, and return on equity as indicator, while the corporate governance rating as the independent variable. There are three models in this study, which uses the value of each variable dependent. The results of the study on the first model indicate that the corporate governance rating do not have an influence on the firm performance while on the second and third models indicate that the corporate governance rating have an influence on the firm

performance.;The aim of this study is to analyze the effect of the corporate governance rating on

firm performance in 2008-2012. Hypotheses were tested using the estimation

method of panel data whereby the dependent variable is the firm performance,

which uses earning per share, return on assets, and return on equity as indicator,

while the corporate governance rating as the independent variable. There are three

models in this study, which uses the value of each variable dependent. The results

of the study on the first model indicate that the corporate governance rating do not

have an influence on the firm performance while on the second and third models

indicate that the corporate governance rating have an influence on the firm

performance., The aim of this study is to analyze the effect of the corporate governance rating on

firm performance in 2008-2012. Hypotheses were tested using the estimation

method of panel data whereby the dependent variable is the firm performance,

which uses earning per share, return on assets, and return on equity as indicator,

while the corporate governance rating as the independent variable. There are three

models in this study, which uses the value of each variable dependent. The results

of the study on the first model indicate that the corporate governance rating do not

have an influence on the firm performance while on the second and third models

indicate that the corporate governance rating have an influence on the firm

performance.]"

"One principle of corporate governance is disclosure and transparancy. This principle stipulates that reliable disclosure is made on all material matters regarding the corporation. By applying this principle, information asymmetry can be reduced and thus negative consequences of adverse selection and moral hazard problems can minimized. This paper assesses the extent of regulation on disclosure in Indonesia and reviews the evidence on the disclosure level among publicity listed companies in Indonesia. In Indonesia, private mechanism to control the negative consequences on information asymemetry is not effective since the roe of board of directors / commissioners and banks / creditors is minimum in monitoring the firms' actions. Further the capital and labor markets are not well developed. Without proper regulation the amount of information produced by these companies as expected is in adwquate. In recent years, there has been significant improvement in the regulation of disclosure in Indonesia. Badan Pengawas Pasar Modal (Capital Market Monitoring Agency) has issued a number of rules that enforce disclosure and that protect the interest of minority shareholers. The accounting standards are harmonized with the international Accounting Standards while the due process in preparing the standards has been intensified. Empirical evidences, however, find that in general the disclosure level among publicitu listed companies in Indonesia is low. Even for mandatory disclosure, the compliance rate is not satisfactory. This low level of disclosure despite the enhancement of disclosure requirement by the regulating bodies suggests that the enforcement of the disclosure requirements by the regulating bodies suggests that the enforcement of the regulations needs to be improves. The paper concludes with some policy recommendations to improve the disclosure level in Indonesia. "

"Penelitian ini bertujuan untuk menganalisis pengaruh mekanisme corporate governance yang diproksi dengan persentase kepemilikan saham terbesar, ukuran dewan komisaris, dan efektivitas komite audit terhadap pemilihan auditor eksternal pada perusahaan non jasa keuangan yang terdaftar di Bursa Efek Indonesia. Penelitian ini menggunakan klasifikasi auditor Top 10 dan non Top 10 sebagai proksi dari kualitas audit yang akan dipilih perusahaan. Penelitian menggunakan 434 observasi selama periode 2009-2010. Hasil penelitian menunjukkan adanya pengaruh positif signifikan antara persentase kepemilikan saham terbesar, ukuran dewan komisaris, dan efektivitas komite audit terhadap pemilihan auditor eksternal oleh perusahaan.

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This study aimed to analyze the impact of corporate governance mechanism, proxied by largest shareholder, board size, and audit committee's effectiveness on external auditor choice in non financial service companies listed on the Indonesia Stock Exchange. This study used Top 10 and non Top 10 auditor classification as a proxy of audit quality that will be chosen by the company. This study used 434 observations over the period 2009-2010. The results showed that there are significant positive effects of largest shareholder, board size, and audit committee's effectiveness on external auditor choice by the company."

"Penelitian ini bertujuan untuk menguji hubungan antara corporate governance, managerial incentives, dan corporate tax avoidance. Untuk melihat kesimpulan yang berbeda di sepanjang distribusi tax avoidance, penelitian ini menggunakan quantile regression untuk menunjukkan hubungan antara corporate governance dengan tax avoidance. Penelitian ini menemukan hubungan positif antara corporate governance dan tax avoidance pada tingkat yang rendah, tetapi ditemukan hubungan sebaliknya pada tingkat tax avoidance yang tinggi. Hasil ini menunjukkan bahwa terdapat hubungan yang lebih kuat antara corporate governance dengan tax avoidance pada tingkat yang ekstrim. Selain itu penelitian ini juga menemukan hubungan negatif antara managerial incentives dan tax avoidance.

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The aim of the research is examine the link between corporate governance, managerial incentives, and corporate tax avoidance. Agency problems may lead managers to make difference decisions regarding tax compliance. Manager may see tax avoidance as an investment like other similar opportunity. To see a broaden view along the level of tax avoidance, this research use quantile regression to exhibit link between corporate governance and tax avoidance. This research find a positive relation between corporate governance mechanism for low level of tax avoidance, but a negative relation for high levels of tax avoidance. These results indicate that these governance mechanism have a stronger relation with more extreme levels of tax avoidance. Meanwhile this research find a negative influence between managerial incentives and tax avoidance."

"[ABSTRAKSaat ini tersedia beberapa jenis informasi harga sukuk, namun investorberhak mengetahui seberapa signifikan perbedaan antara data dari sumber yangsatu dengan yang lainnya, sehingga investor memiliki keyakinan dalam investasipada instrumen sukuk. Penelitian ini bertujuan untuk mengetahui perbedaanantara imbal hasil dan risiko Sukuk Ijarah dari Bursa Efek Indonesia (IDX) danIndonesian Bond Pricing Agency (IBPA).Kesimpulan dari penelitian ini adalah bahwa terdapat perbedaan yangsignifikan secara statistik dari risiko sukuk ijarah antara yang menggunakan dataharga Bursa Efek Indonesia (IDX) dan data harga Indonesian Bond PricingAgency (IBPA), akan berkaitan dengan tingkat kepercayaan publik dan investoratas validitas data harga sukuk di pasar sekunder.

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ABSTRACTSeveral types pricing information of sukuk are available today, butinvestors are entitled to know how significant the difference between data fromone source to another, so that investors have confidence of investing in sukukinstrument. This study aims to determine differences between returns and risksRisk Adjusted Return (RAR) Sukuk Al-Ijara from Indonesian Stock Exchange(IDX) and Indonesian Bond Pricing Agency (IBPA).The conclusion of this study shows that there is a statistically significantdifference of Sukuk Al-Ijara risks between the use of the Indonesian StockExchange (IDX) and Indonesian Bond Pricing Agency (IBPA), it will be relatedwith public and investor trust in addition of sukuk data price validity in secondarymarket.;Several types pricing information of sukuk are available today, butinvestors are entitled to know how significant the difference between data fromone source to another, so that investors have confidence of investing in sukukinstrument. This study aims to determine differences between returns and risksRisk Adjusted Return (RAR) Sukuk Al-Ijara from Indonesian Stock Exchange(IDX) and Indonesian Bond Pricing Agency (IBPA).The conclusion of this study shows that there is a statistically significantdifference of Sukuk Al-Ijara risks between the use of the Indonesian StockExchange (IDX) and Indonesian Bond Pricing Agency (IBPA), it will be relatedwith public and investor trust in addition of sukuk data price validity in secondarymarket., Several types pricing information of sukuk are available today, butinvestors are entitled to know how significant the difference between data fromone source to another, so that investors have confidence of investing in sukukinstrument. This study aims to determine differences between returns and risksRisk Adjusted Return (RAR) Sukuk Al-Ijara from Indonesian Stock Exchange(IDX) and Indonesian Bond Pricing Agency (IBPA).The conclusion of this study shows that there is a statistically significantdifference of Sukuk Al-Ijara risks between the use of the Indonesian StockExchange (IDX) and Indonesian Bond Pricing Agency (IBPA), it will be relatedwith public and investor trust in addition of sukuk data price validity in secondarymarket.]"

"Penelitian ini bertujuan untuk menganalisis pengaruh corporate culture dalam pembentukan strategi integrated marketing communication (IMC) serta dampaknya terhadap market performance di industri perbankan Indonesia. Industri perbankan Indonesia menghadapi persaingan yang ketat dan perlu adanya inovasi secara internal dari perusahaan perbankan untuk menjaga relevansi dan daya saing. Penelitian ini mengumpulkan data melalui survei online kepada manager bank di Indonesia dan menggunakan PLS SEM sebagai metode analisis. Hasil penelitian menunjukkan bahwa corporate culture berpengaruh positif terhadap implementasi IMC melalui 4 dimensi, Message consistency, Interactivity, Organizational alignment, dan Stakeholder-centered Strategic Focus. Controlling culture memiliki pengaruh positif lebih besar dibandingkan collaborative culture. IMC yang efektif berpengaruh positif pada pertumbuhan market performance melalui 3 dimensi, Sales-Related Performance, Brand advantage, dan Customer satisfaction. Kesimpulannya, integrasi corporate culture yang mendukung dan strategi IMC yang efektif dapat meningkatkan market performance di sektor perbankan Indonesia.

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This study aims to analyze the influence of corporate culture on the formation of integrated marketing communication (IMC) strategies and their impact on market performance in the Indonesian banking industry. The Indonesian banking industry faces intense competition and requires internal innovation from banking companies to maintain relevance and competitiveness. This study collected data through an online survey of bank managers in Indonesia and used PLS SEM as the analytical method. The results show that corporate culture has a positive influence on the implementation of IMC through four dimensions: Message consistency, Interactivity, Organizational alignment, and Stakeholder-centered Strategic Focus. Controlling culture has a greater positive influence compared to collaborative culture. Effective IMC positively impacts market performance growth through three dimensions: Sales-Related Performance, Brand advantage, and Customer satisfaction. In conclusion, the integration of supportive corporate culture and effective IMC strategies can improve market performance in the Indonesian banking sector."