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"ABSTRAK

Penelitian ini bertujuan untuk mengamati reaksi LQ45 yang berbasis di Bursa Efek Indonesia dengan peristiwa politik nasional. Penelitian ini berfokus pada dua event nasional politik, yaitu: Hasil Pemilihan Presiden tahun 2009 (Quick Count) dan 2014 (Quick Count). Metode studi peristiwa yang digunakan dalam penelitian ini, dengan menggunakan panjang sebelas hari untuk periode event window, lima hari sebelum dan lima hari setelah kejadian. Reaksi didekati dengan abnormal return yang signifikan dan perbedaan yang signifikan rata-rata abnormal return antara sebelum tanggal acara dan setelah tanggal event selama periode event window. Hasil penelitian menunjukkan berbagai signifikan abnormal return dari setiap peristiwa politik. Dan berdasarkan uji statistik, tidak ada perbedaan yang signifikan rata-rata abnormal return antara sebelum dan pasca pemilihan presiden pada tahun 2009 dan ada perbedaan yang signifikan rata- rata abnormal return antara sebelum dan pasca pemilihan presiden tahun 2014.

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ABSTRACT

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This research is aimed to observe reaction of LQ45 based in Indonesian Stock Exchange to the national political events. This research is focusing on two national political events, which are: The Presidential Election Results in 2009 (Quick Count) and 2014 (Quick Count). The event study method is applied in this research, using eleven days length for window event period, five days before and five days after the event. The reaction is approximated by significant abnormal return and significant difference of average abnormal return between before event date and after event date during the event window period. The results show various significant of abnormal returns from each political event. Based on statistical test, there are no significant differences of average abnormal return between pre and post presidential election in 2009 and there are significant differences of average abnormal return between pre and post presidential election in 2014.

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"Banyak rakyat Amerika yang menilai negaranya sebagai model demokrasi. Meskipun masih banyak kekurangan dalam sistem ketatanegaraan dan pemerintahan di Amerika, namun masyarakat Amerika setuju bahwa fondasi menuju sebuah masyarakat yang demokratis telah dijamin oleh Konstitusi dan undang-undang lainnya. Karena demokrasi Amerika masih jauh dari sempurna, banyak kalangan di Amerika memperdebatkan aturan permainan dalam pelaksanaan demokrasi ini.Konsep dasar dari demokrasi sebagai nilai dasar di Amerika adalah lahirnya suatu tatanan pemerintahan yang berdasarkan kehendak rakyat, pemerintah yang berdasarkan keinginan popular. Namun jika dilihat dari kacamata demokrasi, ada kecenderungan sistem pemilihan presiden melalui electoral college sedikit mengesampingkan beberapa esensi demokrasi, seperti kesamaan politik yang diterjemahkan dengan pemberian bobot suara yang sama: satu orang, satu suara.Namun sistem electoral college memang diterapkan sebagai kompromi politik yang dibuat oleh pendiri bangsa Amerika untuk memberikan bobot yang relatif lebih seimbang antara negara bagian besar dan kecil.Apapun sistem pemilihan yang diterapkan akan sangat berpengaruh kepada kepercayaan masyarakat terhadap proses dan pranata politik di suatu negara.Penulisan tesis ini bertujuan untuk mengkaji dan mengidentifikasi kelemahan dalam sistem pemilihan presiden yang seringkali menciptakan kontroversi dalam pemilihan presiden. Pengamatan utama dalam tulisan ini dititikberatkan pada sistem electoral college.Tesis ini menggunakan metode penelitian dari sumber kepustakaan dan menggunakan pendekatan kualitatif dalam pengkajiannya. Penulisan tesis ini melibatkan pengamatan sejarah dan kajian pranata-pranata.An Observation to the U.S. Presidential Election 2000: The Electoral College System as a Complementing Factor in American DemocracyMost Americans view the United States as a model democracy. Although there are still flaws in the American constitutional system and government structure, most Americans agree that the Constitution and other existing laws secure the foundations of a democratic society. Due to the imperfect nature of American democracy, many experts as well as the common people are still debating about the rule of the game in the application of democracy.

The basic concept of democracy as a core American value is the existence of a governing system that is by the will of the people, by means of popular support. But if we observe through the lenses of democracy, electing a president using the electoral college system tends to overlook several basic essence of democracy, namely that of political equality which supposed to provide an equal weight for each single vote cast: one person, one vote.

The electoral college system was adopted as a political compromise made by the founding fathers in America to provide a relatively equal weigh between the large and small states. Irrespective of the electoral system applied in a presidential election, it will influence the course which determines the people's confidence to the political process and institutions in a particular country.

The objective of this thesis is to study and identify the weaknesses in the existing presidential election system that often create controversies in the process. The focus of the study is on the electoral college mechanism. The research method used in this thesis was carried out through literature research and the qualitative approach was applied in its analysis. In order to understand the inter-linkages between the various aspects on this topic, the writing of this thesis used the historical and institutional perspectives."

"Penulis tertarik untuk meneliti kebijakan media massa cetak seperti Republika dalam memberitakan kampanye capres-cawapres Megawati Soekarnoputri-Hasyim Muzadi dan Susilo Bambang Yudhoyono-Jusuf Kalla pada Pemilu 2004, karena untuk pertama kalinya pemilihan presiden/wapres dilakukan secara langsung. Penelitian ini juga menarik untuk mengetahui partisipasi politik media massa dalam pelaksanan pemilu secara langsung.Teori Partisipasi Media, Teori Political Marketing, Teori Partisan dan Teori Transisi Demokrasi digunakan sebagai landasan penelitian ini. Metode penelitian yang digunakan adalah metode deskriptif-kualitatif. Pengumpulan data dilakukan melalui analisa berita, artikel, tajuk rencana dan foto dari dua pasangan capres-cawapres serta wawancara dengan Redaksi Pelaksana Republika dan dua anggota tim kampanye pasangan Megawati-Hasyim Muzadi dan SBY-Jusuf Kalla.Temuan penelitian ini menunjukkan lewat kebijakan pemberitaannya serta penekanan terhadap unsur informasi, aktualitas, dan pemberdayaan umat, Republika telah berpartisipasi dalam pemilu sebagai sumber informasi bagi masyarakat (pemilih). Namun, sesuai Teori Partisipasi Media, Republika juga memiliki keterbatasan ruang (halaman) dan waktu (deadline) sehingga informasi politik kepada pembaca tidak lengkap. Tidak lengkapnya informasi serta disaringnya infonnasi oleh redaksilredaktur membuat proses konsolidasi demokrasi lewat peran media massa cenderung tidak maksimal.Sesuai Teori Pers Libertarian, Republika tidak menghadapi ancaman kebebasan pers berupa pembredeilan dan sensor dari pemerintah (penguasa). Namun, Teori Pers Libertarian kehilangan relavansinya karena Republika menghadapi ancaman dari massa pendukung capres-cawapres. Sementara sesuai Teori Partisan, Republika dapat bersikap non-partisan karena tidak ada keterkaitan modal, manajemen redaksi, serta aliansi politik Republika terhadap capres-cawapres yang bertarung dalam Pemilu 2004.

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Writer was interested to study the mass media's policy such as Republika Daily in presenting the President-Vice President campaign news for Megawati Soekarnoputri - Hasyim Muzadi and Susilo Bambang Yudhoyono - Jusuf Kalla in Presidential Election 2004, because for the first time in Indonesia history the Election was held directly. The study is also interesting in its way to discover mass media politic participations in this direct Presidential Election.

The Media Participation Theory, Political Marketing Theory, Participants Theory and Democracy Transition Theory are used as the foundation and reference in this study. The method used in this study is descriptive-qualitative method. Data collecting being done throughout news analyzes, articles, reviews and photos of the two pairs of president-vice president candidates along with the interviews with the Republika's Implementation Editor and two members of Team Campaign from both pairs Megawati - Hasyim Muzadi and Susilo Bambang Yudhoyono - Jusuf Kalla.

The findings in this study have shown that throughout its news release policy and the stresses in information elements, actualizations, human resources, Republika had participated in the election as the source of information for the society (voters). However, as being said in the Media Participation Theory, Republika also had limitations in space (limited pages) and timelines (deadlines) that politic information could not received completely by its readers. The incomplete of information and the censored information by the editor had made the democracy consolidation process through the mass media tend to un-maximum.

In accordance to the Libertarian Press Theory, Republika did not facing any thread of press freedom such as a close down or bans from the government (the authority). However, the Libertarian Press Theory does lose its relevance for Republika did face the threads from the supporters of both pairs of candidates. Meanwhile, in accordance to the Participant Theory, Republika could act non-participant because of the lack of interrelatedness in its financial to the participants, editor's management, and politic alliances with the president-vice president candidates participating in the 2004 general election."

"ABSTRAKThis paper reviews the making of singapore's ethnic conflicts during the 1950s and 1960s, the rise of opposition forces during 1980s, the theory asserting that the group representation constituency has helped the minority groups enter the parliament, and contemporary ethnic concerns in 2017 presidential election. the authors argue that singapore's ceaseless memory of conflicting ethnic relations is the product of political management. the singapore government therefore creates an electoral system that ensures minority representations in politics, but is in fact favorable to the ruling party and its political elites from the majority group. as a result, the ruling party consolidates its power by strengthening negative stereotypes of the minority, and continues to reproduces ethnic disharmony"