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Abstrak :
Penelitian ini membahas mengenai perkembangan Bursa Efek Jakarta sejak tahun 1997 hingga 2007. Sejak tahun 1997 krisis monteter yang menghantam Indonesia sangat mempengaruhi Bursa Efek Jakarta. Dalam perdagangan selama tahun 1997-1998, Indeks Harga Saham Gabungan turun drastis dari 700-an menjadi 300-an poin. Hal ini terjadi akibat memburuknya situasi Indonesia selama masa krisis, menyebabkan kepanikan para investor. Di sisi terlihat para pelaku pasar modal melihat masa depan pasar modal di dunia mengarah pada penggabungan usaha. Sejak tahun 1998 wacana merger Bursa Efek Jakarta dengan Bursa Efek Surabaya mulai muncul, namun gagal. Pada tahun 2005 wacana merger muncul kembali dan mendapat dukungan pemerintah pusat. Program ini dilakukan pada masa kepemimpinan Direktur Utama Bursa Efek Jakarta Erry Firmansyah. Merger ini kemudian berhasil dilaksanakan pada tahun 2007. Dengan adanya merger pasar modal Indonesia menjadi kian besar dan juga modern. Penelitian ini sendiri menggunakan metode sejarah melalui tahap heuristik, kritik, interpretasi dan historiografi. ......This study discusses the development of the Jakarta Stock Exchange from 1997 to 2007. Since 1997 the monetary crisis that hit Indonesia greatly affected the Jakarta Stock Exchange. In trading during 1997-1998, the Composite Stock Price Index fell drastically from the 700s to the 300s points. This occurred due to the worsening situation in Indonesia during the crisis, causing panic among investors. On the other hand, capital market players see the future of capital markets in the world as leading to business mergers. Since 1998, the discourse on the merger of the Jakarta Stock Exchange with the Surabaya Stock Exchange began to emerge, but failed. In 2005 the merger discourse reappeared and received the support of the central government. This program was carried out during the leadership of the President Director of the Jakarta Stock Exchange, Erry Firmansyah. This merger was then successfully implemented in 2007. With the merger, the Indonesian capital market has become bigger and more modern. This research uses the historical method through the stages of heuristics, criticism, interpretation and historiography.

Abstrak :
[ABSTRAK
Krisis rupiah di tahun 1997-1999 adalah gejolak besar bagi ekonomi Indonesia dimana pertumbuhan ekonomi anjlok, sistem perbankan lumpuh, diikuti dengan konsekuensi sosial dan politik yang pahit. Diyakini jika otoritas moneter daan pembuat kebijakan lainnya dapat mengantisipasi krisis tersebut, segala konsekuensi yang tidak diinginkan tersebut dapat dikurangi dan mungkin dihindari. Sistem pendeteksian dini untuk krisis rupiah diharapkan dapat memberi waktu para pembuat kebijakan untuk mengantisipasi datangnya krisis. Namun salah satu faktor sukses yang kritikal dalam pembentukan sistem tersebut adalah seleksi indikator. Penelitian ini menerapkan Indication & Warning Intelligence (I&W)untuk sistem pendeteksian dini krisis rupiah dengan produk akhir berupa set indikator yang dianggap efektif memprediksi krisis rupiah. Dengan I&W diseleksi lima indikator, yang selanjutnya diuji keefektifannya dengan metode regresi logit, yang menyatakan bahwa terdapat tiga indikator yang dapat memprediksi krisis rupiah secara signifikan yang adalah: 1) Real Effective Exchange Rate, 2) Deposit Money Bank?s Foreign Asset Growth, dan 3) Inflasi.

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ABSTRACT
Currency crisis in Indonesia that took place in 1997-1999 was a major shock to the economy which plunge the growth, collapse the banking system with its bitter social and political consequences. It is acknowledged that if the monetary authority could anticipate such shock, the result would not be as devastating, it could be far lessen, and hopefully avoided. Early warning system for currency crisis is crucial for policy makers to anticipate the coming crisis with enough preparation. One of the most important factor in framing that system is indicators selection. This research apply Indication & Warning Intelligence (I&W) to early warning system of rupiah crisis with indicator set as its end product. With I&W five indicators are selected, which underwent further significance test with logistic regression method. This method results in three indicators being the most effective in predicting rupiah crisis, namely: 1) Real Effective Exchange Rate, 2) Deposit Money Bank?s Foreign Asset Growth, and 3) Inflation.;Currency crisis in Indonesia that took place in 1997-1999 was a major shock to the economy which plunge the growth, collapse the banking system with its bitter social and political consequences. It is acknowledged that if the monetary authority could anticipate such shock, the result would not be as devastating, it could be far lessen, and hopefully avoided. Early warning system for currency crisis is crucial for policy makers to anticipate the coming crisis with enough preparation. One of the most important factor in framing that system is indicators selection. This research apply Indication & Warning Intelligence (I&W) to early warning system of rupiah crisis with indicator set as its end product. With I&W five indicators are selected, which underwent further significance test with logistic regression method. This method results in three indicators being the most effective in predicting rupiah crisis, namely: 1) Real Effective Exchange Rate, 2) Deposit Money Bank’s Foreign Asset Growth, and 3) Inflation., Currency crisis in Indonesia that took place in 1997-1999 was a major shock to the economy which plunge the growth, collapse the banking system with its bitter social and political consequences. It is acknowledged that if the monetary authority could anticipate such shock, the result would not be as devastating, it could be far lessen, and hopefully avoided. Early warning system for currency crisis is crucial for policy makers to anticipate the coming crisis with enough preparation. One of the most important factor in framing that system is indicators selection. This research apply Indication & Warning Intelligence (I&W) to early warning system of rupiah crisis with indicator set as its end product. With I&W five indicators are selected, which underwent further significance test with logistic regression method. This method results in three indicators being the most effective in predicting rupiah crisis, namely: 1) Real Effective Exchange Rate, 2) Deposit Money Bank’s Foreign Asset Growth, and 3) Inflation.]

Abstrak :
ABSTRAK
Penelitian ini bertujuan untuk memberikan bukti empiris akan pengaruh kepemilikan pemerintah terhadap kualitas laba perusahaan selama periode krisis keuangan global 2008. Pada dasarnya, kepemilikan pemerintah terhadap perusahaan dipercaya dapat mempengaruhi insentif pelaporan keuangan, sehingga kualitas laba dari kedua jenis perusahaan, BUMN dan perusahaan non-BUMN, dapat berbeda. Proksi yang digunakan dalam penelitian ini untuk mengetahui kualitas laba adalah discretionary accruals. Penelitian ini menemukan bahwa perusahaan milik pemerintah memiliki kualitas laba yang lebih buruk dibandingkan dengan perusahaan non-BUMN. Penelitian ini berbeda dengan penelitian lainnya karena menggunakan kualitas laba sebagai proksi untuk mengetahui pengaruh dari kepemilikan pemerintah, bukan performa perusahaan

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ABSTRACT
This research aims to examine the effect of government ownership on earnings quality during global financial crisis 2008 In Indonesia. In particular, state-ownership of companies is believed to influence reporting incentives, which may differ the earnings quality between state-owned enterprises and non-state-owned enterprises. This research uses discretionary accruals as the proxy of earnings quality. This research finds that the earnings quality of state-owned enterprises in Indonesia is lower than their counterparts?non-state-owned enterprises?even during global financial crisis 2008. While many studies test the effect of government ownership during global financial crisis by using performance as a proxy, this research uses earnings quality of companies as the main proxy.;