This study aims to determine the Disclosure of Enterprise Risk Management (ERM) and The Disclosure of Intellectual Capital (IC) that can affect the level of information asymmetry in LQ45 companies in 2019. This study uses multiple linear regression analysis method with data collection on ERM and IC disclosure using content analysis method. The results of this study indicate that ERM disclosure is significantly negatively related to the level of information asymmetry. Meanwhile, IC disclosure has an insignificant negative relationship with information asymmetry. The limitation of this study is that there are other variables that are no less important in determining information asymmetry besides ERM and IC. In addition, the sampling in this study was only limited to 33 samples, due to the limited time that the researcher had. Suggestions from this study are, it is hoped that further researchers can disclose IC and ERM using other methods such as focus groups, panel discussions, and peer reviews so that the results obtained are more objective in using the data.

This study aims to determine the spillover effect on the ASEAN stock market, which is influenced by the turmoil of the world's financial stock market centres, namely the United States, Japan and the United Kingdom, and to determine the pattern of influence of financial centres on countries in ASEAN. The data used in this research is time series data. Then an analysis of each country index was carried out, which the author obtained from the 2003-2019 period, and then the author used it to find emerging markets that were influenced by developed countries. This study uses the Dynamic Conditional Correlation-Generalized Autoregressive Heteroscedatic Model (DCC-GARCH) so that it is possible to examine the transmission of volatility between two different stock markets together. Based on the research results, it was found that there was a spillover effect from financial centre countries to emerging market countries in ASEAN. Besides that, there is also a finding that the spillover effect between the stock market of financial centers and developing country markets has varying results in the observation period. The 2008 financial crisis, which stemmed from the US financial crisis, caused significant changes to the ASEAN-5 stock market. This can be seen from the increasing influence or spillover effect of the American stock market, namely the SP500 and FTSE100, the most significant impact during and after the 2008 crisis.