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In this paper we study the effect of a ESG/SRI label on profitability, corporate governance, and firm market value, evidence from Indonesia’s top listed firms. Recent evidence indicates that listed firms with ESG/SRI label has better RoE, value, governance, and capacity for growth. The samples used in this study are companies that are included in the SRI-KEHATI Index members and outside the SRI-KEHATI index, which amount to 38 companies in the 2014-2018 period, total observations of 190. Least Square Dummy Variable (LSDV) is used as an analytical method to determine the effect of all the variables involved. We find significant effect of ESG/SRI label from profitability, corporate governance, and firm value. We do find that SRI label adds about 8.9 percentage points of RoE, however NON-SRI label adds about 18,6 percentage  points of firm’s value and more effective 10.2 percentage point of governance quality.AbstrakDalam penelitian ini kami mempelajari pengaruh perusahaan berlabel ESG/SRI pada profitabilitas, tata kelola perusahan, dan nilai perusahaan, pembuktian dari beberapa perusahaan besar yang terdaftar di dalam bursa Indonesia. Bukti terbaru menunjukkan bahwa perusahaan besar berlabel ESG/SRI mempunyai RoE, nilai, tata kelola, dan kapasitas untuk tumbuh lebih baik. Sampel yang digunakan dalam penelitian ini adalah Perusahaan yang masuk ke dalam anggota Indeks SRI-KEHATI dan di luar indeks SRI-KEHATI, yang berjumlah 38 perusahaan dalam periode 2014-2018, total observasi 190. Least Square Dummy Variable (LSDV) digunakan sebagai metode analisis untuk mengetahui perngaruh dari semua variabel-variabel yang digunakan. Hasil interpretasi menunjukkan bahwa ditemukan perbedaan signifikan dalam profitabilitas, tata kelola perusahaan, dan nilai perusahaan antara perusahaan SRI dan NON-SRI. Kami menemukan bahwa rasio ROE perusahaan berlabel SRI lebih tinggi sekitar 8.9%, sedangkan perusahaan NON-SRI untuk nilai perusahaan (Tobin’s Q) lebih tinggi 18.6% dan lebih efektif 10.2%  untuk kualitas tata kelola perusahaan.

Value at Risk (VAR) is a risk measurement method that use in risk investment calculation. VAR shows risk in nominal. This research calculate risk portfolio of stock using VAR method and measure whether VAR value overvalued or underestimated. Using historical simulation method is found VAR value tend to decrease when stock investment consist more stocks in the portfolio. Risk investment calculation consistent with standar devistion as risk measurement, which the more investment diversified the less the risk in the investment. Then, using backtesting reveal that VAR tend too high in portfolio consisting small number of stocks. VAR value can accepted in the portfolio that consist many stocks or the more investment diversified the more accurate VAR value as risk measurement.

The purpose of this paper is to determine the effect of environmental, social and corporate governance (ESG) performance on company dividend policy in Indonesia. This paper uses three controlled variables: firm size, firm age, and firm leverage. The data used in this research are secondary data from Thomson Reuters Eikon Database on 17 companies listed on the Indonesian Stock Exchange over 2011-2020. To analyze the data, this research uses Panel Data Regression Analysis with Common Effect Model aided by STATA 17. The results show that Environmental, Social and Corporate Governance performance has a positive and significant effect on company dividend policy in Indonesia. This paper adds value to the existing literature as it provides an overview of the impact of Environmental, Social and Corporate Governance, especially in relation to the performance of companies Indonesia. It can therefore provide a good basis for understanding of how Indonesian companies can be more appealing to investors.

The purpose of this paper are to examine and analyse returns of momentum and contarian portofolio on Islamic stocks listed on the Jakarta Islamic Index 30 (JII 30) for the period 2010-2018. The method used in this study is Jagedeesh and Titmant (1993). Winner portfolio is formed by buying stocks with the best return performance in the past and selling stocks with bad returns in the past. Whereas a loser portfolio is formed by buying shares of poor return performance in the past and selling stocks with good returns in the past. Formations and observations used 1,3,6 and 12 months. With portfolio weighting based on equal-weighted and value-weighted. Return of momentum portofolio when winner minus loser positive. Return of contarian portofolio when loser minus winner positive. Significant contours are determined by a one-sample t-test using SPSS 25. The study did not find any return on the Islamic stocks listed on JII 30 for the period 2010-2018. But investors can still use this strategy to increase investment returns on Islamic stocks. Because this strategy still provides positive returns.