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This study examines how financial literacy affects financial inclusion, social capital, and cognition in stock investors. Prospective investors or investors can manage per-sonal finances in the future. This research involves many samples with cross-sectional data. This research consists of the independent variables, financial literacy, and the dependent variables consist of financial inclusion, social capital, and cognition. The dependent variable of financial inclusion consists of access, quality, usage, and welfare; social capital consists of the dimensions of collective action, bonding, bridging and trust, and cognition. The independent variable of financial literacy consists of the dimensions of skill, behavior, knowledge, and attitude. The collected respondents were taken from 165 respondents, and they were analyzed using the structural equation modeling. After processing the data, it shows that the effect of financial literacy and cognition on financial inclusion is supported, and financial literacy on social capital cognition is supported. Meanwhile, social capital towards inclusion literacy needs to be supported. Based on the results, stock investors must be more careful in choosing investment products/institutions to avoid fraud.

Simple nucleophilic aliphatic substitution gives access to mono- and diphosphine ligands with a CpC group in the backbone. The monophosphine ligand coordinates to gold(I) via the phosphine site, to thallium(I) via the cyclopentadienyl site and to ruthenium(II) via a combination of both, resulting in an ansa-type structure. Coordination with the cyclopentadiene site is not possible for the diphosphine ligand. In this case, monodentate coordination to gold(I) and bidentate coordination to the [PdCl(μ2-Cl)]2, the [Rh(CO)(μ2-Cl)]2, and the Rh(CO)Cl fragment is observed, showing the variability in coordination modes possible for the long-chain diphosphine ligand. Ligands and complexes were characterized by means of NMR and IR spectroscopy, elemental analysis and X-ray structure analysis.

Purpose – This study aims to examine the effect of service quality on customer satisfaction and the impact of customer satisfaction on customer loyalty among banking service users in Indonesia. Design/methodology/approach – The population of this study consists of customers aged 18 years and above who use the mobile banking service provided by Bank Central Asia, one of the largest banking companies in Indonesia in terms of market capitalization. Purposive sampling was used to obtain a sample of 194 respondents who met the research criteria. Findings – The results of this study indicate that the reliability, customer service and support, and responsiveness variables have a significant positive influence on customer satisfaction, while the privacy and security variable was found to have no significant impact on customer satisfaction. Additionally, customer satisfaction was found to have a significant positive effect on customer loyalty. Research limitations/implications – The data for this study primarily came from East Java, Indonesia, highlighting the need for future research using longitudinal data to investigate the causal relationships between variables. Practical implications – The findings of this study can provide valuable insights into the influence of electronic service quality on customer loyalty in the Indonesian banking industry. It offers banks a deeper understanding of consumer behavior and the crucial satisfaction factors that drive long-term decision-making in banking services. Originality/value – This paper offers novelty by addressing the digitalization trend and competitive challenges faced by banking service providers in achieving customer satisfaction within the digital economic ecosystem. It specifically focuses on customers of Bank Central Asia, a leading banking company in Indonesia. The value of this paper lies in its insights for banking professionals, researchers, and policymakers in navigating the digital landscape and enhancing customer-centric digital banking services.

A dissecção da axila no tratamento do câncer da mama tem sido questionada quanto aos seus objetivos. No passado próximo a intenção era curativa: presentemente tem sido indicada principalmente para oferecer informação de extensão da doença (comprometimento de linfonodos por tumor) e tratamentos complementares, principalmente a quimioterapia adjuvante. Apenas alguns subgrupos de mulheres têm-se beneficiado realmente da quimioterapia adjuvante: as pré-meno-pausadas com linfonodos axilares comprometidos com tumor. Uma vez decidida a dissecção axilar, ainda resta a questão de saber se deve ser radical, ou limitada a níveis I e II (até músculo peitoral menor). Muitos centros importantes de câncer indicam a dissecção limitada da axila, que em média retira cerca de 10 linfonodos, alegando que desta forma não há risco de edema importante do braço e conseguem boa informação prognóstica e bom controle tumoral da axila. Aqueles que indicam a dissecção radical alegam que esta é a única forma de se obter informação real da situação axilar. Algumas pacientes podem ter linfonodos livres de tumor na parte baixa da axila, mas com tumor no ápice axilar ("skip metastasis") e a única forma de descobri-lo seria através da dissecção radical. Como a dissecção radical da axila pode causar edema do braço, é importante questionara real indicação da mesma. Pacientes em pós-menopausa e com axila clinicamente negativa talvez pudessem ter a alternativa de não dissecara axila de forma radical (e com isso não correr o risco de edema do braço), sem aumentara chance de falha de tratamento. O presente artigo discute o problema da dissecção da axila no tratamento do câncer da mama e mostra dados de 148 pacientes que fizeram tratamento conservador no Centro de Oncologia Campinas, metade das quais sem dissecção da axila.

The purpose of this research is to examine the effect of SRI index on abnormal return of added to and deleted stocks of two countries, Indonesia (SRI-KEHATI) and Malaysia (FTSE4GBM). The effect was examined using CAAR of the stock around index announcement. This research was conducted using event study methodology. The samples used in this research are all the stocks that were added to and deleted from SRI-KEHATI index on 2009-2018 announcements and FTSE4GBM index on 2014-2018 announcements. The result of hypothesis test shows that SRI index announcement has negative significant effect to the added stocks to SRI-KEHATI’s CAAR before announcement, after announcement and cumulative periods, to added stocks to FTSE4GBM’s before announcement and cumulative periods, and to deleted stocks from FTSE4GBM’s after announcement and cumulative periods. SRI index announcements has positive significant effect to the deleted stocks from SRI-KEHATI’s CAAR before announcement. Information on SRI index announcements has effects to the decisions made by investors. Indonesian investors reacted negatively toward added stocks but not choosing deleted stock either after announcements. Malaysian investors reacted negatively toward both added and deleted stocks, added stocks are perceived better even if positive CAAR are insignificant after announcements.

The purpose of this study was to examine the influence of demographic factors such as gender, age, education, occupation, income, and investment experience on investor behavior bias such as overconfidence bias, disposition effects, herding bias, and mental accounting. This type of research was causal research with a quantitative approach, and the analytical method used was the analysis of SEM (structural equation modeling). This research was conducted by distributing questionnaires to investors listed on the Indonesia Stock Exchange with a minimum age of 17 years. The results showed that overconfidence bias was influenced by investment experience while disposition effect was influenced by age, income level, and investment experience. Herding bias was influenced by age and occupation while mental accounting was influenced by income level.

Michael Wessolly,1,2,* Susann Stephan-Falkenau,3,* Anna Streubel,3 Robert Werner,3 Sabrina Borchert,1,2 Sergej Griff,3 Elena Mairinger,1 Robert FH Walter,1,4 Torsten Bauer,5 Wilfried EE Eberhardt,4,6 Torsten G Blum,5 Kurt W Schmid,1 Jens Kollmeier,5 Thomas Mairinger,1,* Fabian D Mairinger1,2,* 1Institute of Pathology, University Hospital Essen, University of Duisburg-Essen, Essen, Germany; 2German Cancer Consortium (DKTK), Partner Site University Hospital Essen, Essen, Germany; 3Department of Tissue Diagnostics, Helios Klinikum Emil Von Behring, Berlin, Germany; 4Ruhrlandklinik, West German Lung Center, University Hospital Essen, University of Duisburg-Essen, Essen, Germany; 5Lungenklinik Heckeshorn, Helios Klinikum Emil Von Behring, Berlin, Germany; 6Department of Medical Oncology, West German Cancer Center, University, Hospital Essen, Essen, Germany*These authors contributed equally to this workCorrespondence: Michael Wessolly Research Group: Translational Cancer Research, Institute for PathologyUniversity Hospital Essen, Hufelandstraße 55, Essen D-45147, GermanyTel +49 201 723 – 83035Fax +49 201 723 – 3880Email michael.wessolly@uk-essen.deBackground: Immune checkpoint inhibition, especially the blockade of PD-1 and PD-L1, has become one of the most thriving therapeutic approaches in modern oncology. Immune evasion caused by altered tumor epitope processing (so-called processing escapes) may be one way to explain immune checkpoint inhibition therapy failure. In the present study, we aim to demonstrate the effects of processing escapes on immunotherapy outcome in NSCLC patients.Patients and Methods: Whole exome sequencing data of 400 NSCLC patients (AdC and SCC) were extracted from the TCGA database. The ICB cohort was composed of primary tumor probes from 48 NSCLC patients treated with nivolumab. Mutations were identified by targeted amplicon-based sequencing including hotspots and whole exomes of 22 genes. The effect of mutations on proteasomal processing was evaluated by deep learning methods previously trained on 1260 known MHC-I ligands. Cox regression modelling was used to determine the influence on overall survival.Results: In the TCGA cohort, processing escapes were associated with decreased overall survival (p= 0.0140). In the ICB cohort, patients showing processing escapes in combination with high levels of PD-L1 (n=8/48) also showed significantly decreased overall survival, independently of mutational load or PD-L1 status.Conclusion: The concept of altered epitope processing may help to understand immunotherapy failure. Especially when combined with PD-L1 status, this method can be used as a biomarker to identify patients not suitable for immunotherapy.Keywords: massive parallel sequencing, NSCLC, immunotherapy, epitope, processing escape, deep learning

Purpose: This study aims to analyze and identify determinants of working capital of manufacturing firms listed on Indonesia and the Philippines Stock Exchanges. This study focuses on working capital because firms with inadequate working capital may experience operational difficulties and lead to financial distress. Thereby, firms must have adequate working capital. Design/Methodology/Approach: The study employed panel data, with the final sample for Indonesia was 630 years of observation, while for the Philippines, the sample used was 210 years of observation. The sample of the study was manufacturing firms listed on Indonesia and the Philippines Stock Exchanges. Findings: The study results in the Indonesian sample show that profitability and growth opportunities have a significant positive effect on working capital. Asset tangibility, firm age, and leverage have a significant negative effect on working capital. While operating cash flow and firm size have no effect on working capital. In comparison, the results in the Philippines sample show that profitability has a significant positive effect on working capital. Asset tangibility and leverage have a significant negative effect on working capital. While operating cash flow, growth opportunities, age, and firm size have no effect on working capital. Research Limitations: This study has limitations, namely observations done only on manufacturing firms listed on Indonesia and the Philippines Stock Exchanges. Further research can use a sample with broader coverage in the service sector and expand variables that might affect working capital requirements, especially in the Covid-19 pandemic. Practical Implications: For a firm’s decision-makers, this present study can be used as a reference in making decisions related to working capital management. Bad decision-making in determining the amount of working capital may lead to high capital costs and financial distress. Originality/Value: What factors affect the amount of working capital is an attractive topic for many researchers today. Poor working capital management will result in a firm not being able to meet its maturing obligations and may lead to financial distress. The use of samples in developing countries, namely Indonesia and the Philippines, that is relatively similar, making this present study unique. By using samples in developing countries, this study can investigate differences in results between developing countries.

Background: Gastrin-releasing peptide receptors (GRPRs) are molecular imaging targets in multiple malignancies. Recently, NeoBOMB1, a 68Ga-labelled antagonist to GRPRs, was developed for PET. Here we report the outcome of a Phase I/IIa clinical trial (EudraCT 2016-002053-38) describing diagnostic properties and covariates influencing uptake of 68Ga-NeoBOMB1 in oligometastatic gastrointestinal stromal tumor (GIST) patients. Methods: Nine patients with advanced GIST using PET/CT (computed tomography) were included. After kit-based 68Ga-NeoBOMB1 preparation with a licensed 68Ge/68Ga generator, 3 MBq/kg body weight were injected intravenously. PET/CT included dynamic and static PET scans 5, 12 and 18 min and 1, 2, and 3–4 h post injection (first six patients) and static PET scans 2 and 3–4 h post injection (last three participants). Tumor targeting was assessed on a per-lesion and per-patient basis. Results: Six patients showed visible radiotracer uptake in at least one tumor lesion. Seventeen out of 37 tumor lesions exhibited significant 68Ga-NeoBOMB1 uptake (median SUVmax 11.8 [range 2.8–51.1] 2 h p.i. and 13.2 [range 2.5–53.8] 3–4 h p.i) and improved lesion-to-background contrast over time. Five lesions (13.5%) were identified only by 68Ga-NeoBOMB1-PET, with no correlation on contrast-enhanced CT. Three patients showed no radiotracer accumulation in any lesions. Tracer uptake correlated with male sex (p < 0.0001), higher body mass index (p = 0.007), and non-necrotic lesion appearance (p = 0.018). There was no association with whole-lesion contrast enhancement, hepatic localization, mutational status, or disease duration. Conclusions: 68Ga-NeoBOMB1-PET exhibits variable tumor uptake in advanced-stage GIST patients, correlating with lesion vitality based on CT contrast uptake, opening the possibility of a theragnostic approach in selected cases.

This study aims to analyze the effect of good corporate governance towards idiosyncratic risk as a proxy with corporate governance variable as board size, independent director, women, firm size, firm performance, and firm age. The object of this study uses companies listed in the Indonesia Stock Exchange and Philippine Stock Exchange using agency theory. This study uses quantitative approach and multiple linear regression to analyze the data. The target populations of this study are manufacturing companies that listed in Indonesia Stock Exchange and Philippine Stock Exchange in 2014-2018 which are equal to 615 and 200 year observations. The results in Indonesia showed that board size, women, and firm age had negatif effect on idiosyncratic risk. On the other hand, firm size do not show the effect on idiosyncratic risk and firm performance had positive effect on idiosyncratic risk. However, the results in Philippine showed that board size had positive effect on idiosyncratic risk. While, women and firm size do not show the effect on idiosyncratic risk but firm performance and firm age had negatif effect on idiosyncratic risk.

A heterogeneous Janus-type palladium interphase catalyst was obtained by selective surface modification of a hollow mesoporous silica material. The catalyst comprises hydrophobic octyl groups on one side of the silica nanosheets and single-site bis-imidazoline dichlorido palladium(II) complexes on the other. The structure of this composite material has been analyzed by means of elemental analysis, atomic absorption spectroscopy, BET surface analysis, TGA, SEM and solid-state CP-MAS 13C and 29Si NMR spectroscopy. The catalyst showed extraordinary activity for the aqueous-phase oxidation of styrene to acetophenone using 30% hydrogen peroxide as the oxidant. An 88% yield of acetophenone could be achieved after 60 min.

The Cu-catalyzed alkyne-azide 1,3-dipolar cycloaddition variant provides a highly efficient entry to conjugated triazolyl-substituted (oligo)phenothiazine organosilicon derivatives with luminescence and reversible redox characteristics. Furthermore, by in-situ co-condensation synthesis several representative mesoporous MCM-41 type silica hybrid materials with embedded (oligo)phenothiazines are prepared and characterized with respect to their structural and electronic properties. The hybrid materials also can be oxidized to covalently bound embedded radical cations, which are identified by their UV/Vis absorption signature and EPR signals.

In radiotherapy of abdominal and thoracic tumors, respiratory motion is a problem for an accurate treatment. Most current motion compensation techniques rely on externally acquired breathing signals of the patient. The systems in clinical use usually work with 1D surface motion signals to describe internal structure respiratory motion patterns. As a 1D signal is not able to describe complex motion patterns and breathing variations, in this work the Microsoft Kinect, which can record multidimensional respiratory surface motion signals, is proposed to be used instead. For the Kinect, a clinically acceptable measurement setup is designed and Kinect measurements are compared to the Varian RPM system (clinical standard). The results show that the signals are well aligned. An additional comparison of Kinect signals from different regions of interest on the chest further reveals variations between them. This illustrates that the use of a system that provides multidimensional signals is worthwhile; the knowledge about breathing variations could be applied for optimization of current clinical workflows.

Kaid Darwiche,1 Paul Zarogoulidis,1,2 Leslie Krauss,3 Filiz Oezkan,1 Robert Fred Henry Walter,1,4 Robert Werner,4 Dirk Theegarten,4 Leonidas Sakkas,5 Antonios Sakkas,5 Wolfgang Hohenforst-Scmidt,6 Konstantinos Zarogoulidis,1 Lutz Freitag11Department of Interventional Pneumology, Ruhrlandklinik, West German Lung Center, University Hospital, University Duisburg-Essen, Essen, Germany; 2Pulmonary Department, Oncology Unit, G Papanikolaou General Hospital, Aristotle University of Thessaloniki, Thessaloniki, Greece; 3CytoViva, Inc, Auburn, AL, USA; 4Institute of Pathology and Neuropathology, University Hospital of Essen, University of Duisburg-Essen, Essen, Germany; 5Pathology Department, G Papanikolaou General Hospital, Thessaloniki, Greece; 6II Medical Department, Coburg Regional Clinic, University of Wuerzburg, Coburg, GermanyBackground: There are currently many techniques and devices available for the diagnosis of lung cancer. However, rapid on-site diagnosis is essential for early-stage lung cancer, and in the current work we investigated a new diagnostic illumination nanotechnology.Methods: Tissue samples were obtained from lymph nodes, cancerous tissue, and abnormal intrapulmonary lesions at our interventional pulmonary suites. The following diagnostic techniques were used to obtain the samples: endobronchial ultrasound bronchoscopy; flexible bronchoscopy; and rigid bronchoscopy. Flexible and rigid forceps were used because several of the patients were intubated using a rigid bronchoscope. In total, 30 tissue specimens from 30 patients were prepared. CytoViva® illumination nanotechnology was subsequently applied to each of the biopsy tissue slides.Results: A spectral library was created for adenocarcinoma, epidermal growth factor receptor mutation-positive adenocarcinoma, squamous cell carcinoma, usual interstitial pneumonitis, nonspecific interstitial pneumonitis, typical carcinoid tumor, sarcoidosis, idiopathic pulmonary fibrosis, small cell neuroendocrine carcinoma, thymoma, epithelioid and sarcomatoid mesothelioma, cryptogenic organizing pneumonia, malt cell lymphoma, and Wegener's granulomatosis.Conclusion: The CytoViva software, once it had created a specific spectral library for each entity, was able to identify the same disease again in subsequent paired sets of slides of the same disease. Further evaluation of this technique could make this illumination nanotechnology an efficient rapid on-site diagnostic tool.Keywords: lung cancer, endobronchial ultrasound, spectral imaging, diagnosis

This study examined the effect of idiosyncratic risk and liquidity of shares on stock return. It used data of 50 companies on the Indonesia Stock Exchange 2009-2011 period. The independent variable was the idiosyncratic risk and the liquidity of the shares, as well as control variables such as firm size. Using panel data and pooled least square, result show that idiosyncratic risk had a significant negative effect on stock return, liquidity of the shares had significant positive and significant negative effect of firm size. This implied that firms with small idiosyncratic risk that small investors will be preferred, so the demand from individuals and institutions simultaneously will push stock prices and provide a higher return

This study aims to test whether active strategies with Moving averages are superior to the passive strategy Buy-and-Hold Strategy in stock portfolios formed based on LQ45 index. Research method used in the research begins with the collection of data which is then processed and analyzed. Subsequently Application ChartNexus used in order to form MA5&MA20 and MA10&30. Lastly the research compare return from active strategies (moving average) and the passive strategy (buy-and-hold strategy). The results of this study indicate that passive strategy with buy-and-hold strategy is able to outperform the moving average active strategy when the market is bullish.

This research aims to analyse effectivity of technical analysis moving average compare to buy and hold strategy on index LQ-45 (as emerging market) and S&P500 (as developed market). Using descriptive approach, this research analysed by metastock program with moving average exponential crossovers method. This research data samples use LQ45 and S&P500 from year 2001-2011. The findings of this research indicate that technical analysis more effective when economic situation on crisis (bearish). Whereas buy and hold strategy more effective on good economic condition (bullish). The results consistent for LQ-45 and S&P500.

A Mobil Composition of Matter (MCM)-41 type mesoporous silica material containing N-propylacridone groups has been successfully prepared by co-condensation of an appropriate organic precursor with tetraethyl orthosilicate (TEOS) under alkaline sol–gel conditions. The resulting material was fully characterized by means of X-ray diffraction (XRD), N2-adsorption–desorption, transmission electron microscopy (TEM), IR and UV–vis spectroscopy, as well as 29Si and 13C CP-MAS NMR techniques. The material features a high inner surface area and a highly ordered two-dimensional hexagonal pore structure. The fluorescence properties of the organic chromophore can be tuned via complexation of its carbonyl group with scandium triflate, which makes the material a good candidate for solid state sensors and optics. The successful synthesis of highly ordered MCM materials through co-condensation was found to be dependent on the chemical interaction of the different precursors.

This research is done for the purpose of finding out the effect of Good Governance practice can reduce earnings management practice done by company. This research uses companies registered in manufacture sector in Indonesia Stock Exchange observation period 2005-2007 as samples. Last sample used in this research is 384 years of observation. This research uses OLS method. The result shows that only 2 variables have significant effect to Earning Management practice which is CEO Duality and controlling shareholder existence. Other independent variables such as independent commissioner and audit committee and also shareholder coalition outside the controlling shareholder don’t have any effect to earning management practice in the company. Control variable like coverage analyst and debt don’t have any effect either, to earning management practice existence.

This research aims to test dividend signaling theory in an Indonesian capital market. Signaling theory states that dividend policy has information content that can influence to share price. Examination of theory of signaling is related to research phenomena in other countries indicating that by percentage there is degradation of company which is pay dividend and there even exist mentioning this as phenomenon of disappearing dividend. Examination of theory of signaling is also related to the research result showing the existence or inexistence of the influence of dividend policy to share price. Besides, in this research is also conducted by examination of agency theory. This research of agency theory tests the influence of: (1) Free Cash Flow to share price, (2) Structure of Ownership to share price, and (3) Structure of ownership to dividend policy. This research also tests life cycle theory, seen influence of cycle of company life to dividend policy. Companies which enter in growth phase tend not to pay a lot of dividend, compared to company at matured step. This research use quantitative approach by using method of path analysis. This research use samples in the form of company allocating dividend for period 1995-2005 which listed on PT Jakarta Stock Exchange. Final samples which are utilized in this research are equal to 1052 year observation. This research also tests sensitivity, widened time of even from 1 day at especial model, becoming 5 and 10 day. Besides test of sensitivity is also conducted changed approach of market model become mean adjusted model in determining expected return.Research finding indicates that signaling theory still relevant in influencing movement of share price. Besides, research finding also supports agency theory told by Jensen in seeing influence of free cash flow to share price. For the influence of structure of ownership to share price, the result supports entrenchment argument. While influence of structure of ownership to dividend policy found by result which do not support agency theory. Life Cycle theory in this research is obtained by result which is research confirmation before all, where there are influence of cycle step of company life to dividend policy. Abstract in Bahasa Indonesia : Penelitian ini bertujuan untuk menguji teori signaling deviden pada kondisi pasar modal di Indonesia. Teori signalling menyataan bahwa kebijakan deviden memiliki kandungan informasi, sehingga hal ini dapat berpengaruh terhadap harga saham. Pengujian teori signalling ini berkaitan dengan fenomena penelitian di manca negara yang menunjukkan bahwa secara persentase terjadi penurunan perusahaan yang membayarkan deviden. Penelitian ini juga melakukan pengujian teori keagenan. Dalam penelitian ini teori keagenan dipergunakan untuk menguji pengaruh: (1) Aliran Kas Bebas terhadap harga saham, (2) Struktur Kepemilikan terhadap harga saham, dan (3) Struktur kepemilikan terhadap kebijakan deviden. Penelitian ini juga menguji teori daur hidup, dengan melihat pengaruh tahapan daur hidup perusahaan terhadap kebijakan deviden. Perusahaan yang masuk dalam tahap pertumbuhan cenderung untuk tidak membagikan deviden, dibandingkan dengan perusahaan pada tahapan matang. Penelitian ini menggunakan pendekatan kuantitatif dengan menggunakan metode path analysis. Penelitian ini menggunakan sampel berupa perusahaan yang membagikan deviden untuk periode 1995-2005 yang terdaftar di PT Bursa Efek Jakarta. Jumlah sampel yang digunakan dalam penelitian ini adalah sebesar 1052 tahun observasi. Dalam penelitian ini juga dilakukan uji sensitifitas dengan memperlebar waktu even dari 1 hari pada model utama, menjadi 5 dan 10 hari. Selain itu uji sensitifitas juga dilakukan dengan mengganti pendekatan market model menjadi mean adjusted model dalam menentukan expected return. Temuan penelitian menunjukkan bahwa teori signalling masih relevan dalam mempengaruhi pergerakan harga saham. Selain itu, temuan penelitian juga menunjukkan dukungan pada teori keagenan yang dikemukakan Jensen dalam melihat pengaruh aliran kas bebas terhadap harga saham. Untuk pengaruh struktur kepemilikan terhadap harga saham, ditemukan hasil yang mendukung argumen entrechment. Sedangkan pengaruh struktur kepemilikan terhadap kebijakan deviden ditemukan hasil yang tidak mendukung teori keagenan. Teori daur hidup dalam penelitian ini diperoleh hasil yang menkonfirmasi penelitian sebelumnya, dimana terdapat pengaruh tahapan daur hidup perusahaan terhadap kebijakan deviden. Kata kunci: signaling theory, agency theory, life cycle theory.

This study aimed to analyze the factors that influence underpricing on IPO. Variables used in this research is Underwriter Reputation (RU), Auditor Reputation (RA), Company Age (AGE), firm size (SIZE), Financial Leverage (FL), Return on Equity (ROE) and Total Asset Turnover (TATO) , This study uses a quantitative approach with a model of multiple linear regression analysis. This study used a sample of companies that conduct an Initial Public Offering (IPO) in the period 2004 to 2014 that are listed in the Indonesia Stock Exchange. The number of observations used in this study were 204 observations. The results showed that the companies doing IPOs in the period 2004-2014, the variable underwriter reputation, auditor reputation, and return on equity significantly negative effect on underpricing, while variable firm age, firm size, financial leverage, and total asset turnover negative not significantly to underpricing

The purpose of this study is to determine the effect of the following corporation’s variables: value, size, debt policy, growth, liquidity, dividend policy on managerial and institutional ownership in the base and chemical industry sector listed on the Indonesia stock exchange during 2010 through 2014. The findings showed that: (i) Corporation’s value and size variables have significant negative effect on managerial ownership; liquidity variable has significant positive effect on managerial ownership. On the other hand, debt policy, growth and dividend policy variables have non-significant negative effect on managerial ownership. (ii) Corporation’s value and size variables have significant positive effect on institutional ownership; debt policy variable has significant negative effect on institutional ownership, while growth, liquidity and dividend policy variables have non-significant positive effect on institutional ownership.

This study aimed to analyze the factors that influence the dividend policy and its impact on future earnings growth. Variable used include size, leverage¸ lagged dividend policy, growth, and profitability. This study uses a quantitative approach to the analyze and use two stages least square as a model. This study used a sample of firm in the sector of consumer goods industry that distribute the minimum dividend 2 times on 2010-2014. The results showed that variable size, dividend payment of the previous period, and profitability has a positive and significant impact on dividend policy. While variable growth leverage and significant negative effect on dividend policy. For the second model variables profitability have a significant negative effect on the future earnings growth. While the variable leverage has significant negative effect on the future earnings growth. Other variables such as dividend policy, size, and growth have no significant effect on future earnings growth.

This study aims to describe investor behavior in stock, mutual fund, and bank deposit. The psychology elements that are used in this research are mental accounting, representativeness, familiarity, considering the past, overconfidence, data mining, social interaction, fear and greed, status quo, and emotion. This research uses primary data with a help of questionnaire. The total respondent of this research is 110 people. Data collected by spreading questionnaire manually and online with the help of Google doc. The results showed that most of the respondents give positive respond to all of the elements. The element that has the highest mean value is familiarity element. It means that the respondent think that before they invest in something, they need to know first about that investment.

Indonesian government issued various regulations and policies of market liberalization and provide the widest opportunities both local and foreign investors to trade. Stock market liberalization should improve market efficiency is similar to the stock markets of developed countries. Intensive research conducted by Fama and French succeeded in explaining the performance of stocks in developed countries with three factors model approach. This study tried to model the stock markets of Indonesia and the added factor of foreign ownership is considered by some to dominate price movements. This study used a sample of 269 firms from 2008 to 2011 period. The study uses panel data regression. The results showed the market factor, size and book-to-market has a positive effect on returns while foreign ownership factors do not affect significantly.

This research objective is to observe the influences of good corporate governance, analyst coverage, company life cycle, investment opportunities set, size, and profitability towards the dividend policy. This study employs the corporate data from Indonesian Stock Exchange during 2005-2008 and weighted least square methods. The latest sample is 279 years of observation. The result shows that only life cycle stage of the company and its profitability are influential towards the dividend policy. The findings show that the relationship between the good corporate governance is consistent with the hypothesis but not significant.