A leader is someone with certain softskill ability which can’t replaced by machine. Therefore, in this 4.0 revolution industries era a leader should keep their ability to solve every leadership problem and develop creative human resource. This study aims to develop a conseptual theory of transformational leadership as a basic framework to implement the development of creative human resources in organizations. A  comprehensive analysis was used to explain some popular leadership styles, such as transformational leadership style, transactional leadership style, charismatic leadership styles and literature on innovation and creativity for the development of human resource empowerment models. Results revealed that the concept of transformative leadership for a creative human resource development model is a process of managing the creativity of human resources that prioritizes credibility by developing new ideas that are unique and unusual, have benefits by changing the nature, function or condition, also converting to achieve organizational goals.

<span><span lang="EN">This study aims to examine the effect of company size, sales growth, and investment opportunity set for funding policies mediated by business risk. This study also involves asset growth variables as control variables. The object of the research is all manufacturing sector companies listed on the Indonesia Stock Exchange (IDX), with observation periods ranging from 2008 to 2013 that issued R&amp;D costs in their financial statements. The results showed that firm size had a positive and significant effect on capital structure, sales growth and asset growth had a positive but not significant effect, and the investment opportunity set had a negative and significant effect on capital structure. The effect of business risk on the capital structure is negative but not significant, while the company's size on business risk is negative but does not have a significant effect, sales growth and business risk are positive and have a significant effect, the investment opportunity set and business risks are positive and have a significant effect. The results also prove that business risk variables are not able to mediate the influence of company size, sales growth, and investment opportunity set in increasing corporate funding decisions</span></span>

Dividend policy is one of the important factors that supply the company's financial flows and operational activities. This study examines the determinants of dividend policy from the perspective of information asymmetry and institutional ownership. The research sample is the companies listed on Indonesia Stock Exchange that pay dividend consecutively from 2016 to 2020. The method of analysis is SEM-PLS operated with WarpPLS 8.0. The results showed that high information asymmetry between company management and shareholders encourages managers to reduce dividend payments for the purpose of providing company capital and production activities. Furthermore, the existence of institutional ownership supports managers' policies and prefers that company profits should be used to supply capital, not be distributed to shareholders. This finding is consistent with the pecking order theory and also implicates the need for a corporate governance system to be improved to give better protection to the investors.