In an emerging market, the firm value has become an important variable for raise capital and sustainable-performance within the national economic development that conducted within Indonesian as the most economically-charged. The purpose of this study is to examine an effects of corporate governace perceptions ındex (CGPI), debt to equity ratio (DER), size of firm, and exchange rate, on state owned enterprises (SOEs) financial performance, and their implication on SOEs values that listed on the Indonesia Stock Exchange in 2013-2018. Furthermore, the quantitative approach conducted within inquiry this research that used Eviews ver. 9.0 for analysis the panel data. Hence, the SOEs that listed on the Indonesia Stock Exchange in 2013-2018 as the populations. This study found that CGPI, DER, and exchange rate have significant affected on SOEs Financial Performance that listed in Indonesia Stock Exchange and the simultaneously contributions with R-square of 0.975 and except firm size that is not significant. Finally, the results also indicate firms may have to these variables and financial performance was a significant impact on SOEs values, within the R-square of 0.874, even if SOEs are not doing business in our country and sustainability business.

This study analyzes the policy implementation of Government Capital Funds (GCF) for the Indonesia Logistics Bureau (Perusahaan Umum Badan Urusan Logistik, Perum BULOG) to support national food security. This study also aims to identify any obstacles and determine the development of an effective policy model for implementing the policy. This study uses qualitative methods, and the primary data was obtained from informants using the snowball technique collected from in-depth interviews. The result of this study is that the implementation of GCF fund utilization could have been more optimal in achieving the set targets due to several obstacles. These obstacles include the incomprehensiveness and inconsistencies in GCF policy planning, the difficulty of undertaking land acquisition and obtaining an environmental license,  GCF funds are much less than the total needs that should be met, and the discontinuation of the RASTRA Program for low-income families and poor food security governance. In addition, developing an implementation model for the effective use of GCF funds requires strengthening the authority of national food security management institutions. This study recommends that the government upgrade the status of Indonesia's Logistics Bureau to become a ministry-level institution. The relationship pattern with the National Food Agency must also be strengthened for better food policy governance.