The objective of this study is to emphasize the effect of enterprise risk management (ERM) and control variable i.e: firm size, leverage, profitability, sales growth, shares volatility, and dividend policy toward firm value. This research employs multiple regressions as tool of analysis. The object of this research is construction and property firms that listed on BEI in period 2012-2014. The result of this research showed that ERM and control variable have a significant effect on firm value. However, partially, ERM doesn't have significant effect on firm value. Further more leverage and sales growth variable have significant effect on firm value. The other funding is that size, leverage and dividend policy have significant correlation on ERM.

This research aimed at identifying whether Bank Umum Syariah (BUS), as the result of spin-off of Unit Usaha Syariah (UUS), has better performance compared to the period when they were still in the form of UUS. There are 4 out of 5 BUSes as a result of spin-off us as samples. The results indicate that: 1) the spin-off of UUS to become BUS has successfully increased the market share of each BUS; 2) there is no significant difference in the profitability before and after spin-off in most sample; 3) no significant difference related to the operational efficiency.

This study has the purpose to examine the influence of political events on the volatility of stocks traded on the Indonesia Stock Exchange (IDX). Furthermore, this study also sees whether such political events also influence the shares that have direct links with the participants in presidential elections. The political event that was examined was the Indonesian Presidential Election held in 2014. We use the daily data on the shares of all companies listed on the Indonesia Stock Exchange (IDX) in 2014. Analysis and hypothesis testing were performed using the GARCH (Generalized Auto Regressive Conditional Heteroscedasticity) estimation and its derivatives namely EGARCH (Exponential GARCH) and TARCH (Threshold GARCH). This study findings that the 2014 Presidential Election asymmetrically affected stock return volatility on IDX and contrary to the leverage effect, which means that positive shocks (good news) have better influence than negative shocks (bad news). Out of all listed companies that have direct links with participants in the presidential election, 3 companies have their stock volatility affected by this Presidential Election; some with symmetric effect and some others with asymmetric effect.

Many have seen a remarkable increase in environmental, social, and governance (ESG) practices in the context of natural resource management. ESG is practically known to help achieve the Sustainable Development Goals (SDG) with more responsible management of natural resources. Yet, limited economic literature exists to illuminate how natural resource management can affect the quality of economic development. This paper attempts to develop and test a theoretical model to understand the interlinkage between natural resource rent, ESG performance, and the quality of economic development at the country level. This study employs a data set of OECD countries during the period of 2000-2017. The path analysis model is used to define the relationship between the measured variables. Our empirical study shows a negative association between ESG performance and natural resource rent; in other words, better human development inhibits corruption and promotes improved ESG performance. This study observes the presence of bidirectional Granger causality between natural resource rent and ESG performance. It is suggested that ESG performance is more likely to be affected by the quality of institutions, rather than by the economy size. Good institutions enable the economy to reach optimum resource allocation.

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