The purposes of this study are to test and prove empirically he effects of own local revenues, general allocation funds, special allocation of funds and revenue-sharing to regional expenditure district/city in East Kalimantan province. The population in this study is the realization of budget reports from 14 districts/cities in East Kalimantan 2009-2013 period.The technique of selecting samples in this study uses purposive sampling method with the amount of data that is processed as many as 58. The data were analyzed using multiple linear regressions with SPSS.The result shows that; Own Local Revenue has an influence on regional expenditure. General Allocation Fund has an influence on regional expenditure, and revenue sharing fund also affect regional expenditure, while the special allocation fund had no effect on regional expenditure. Simultaneously that Own Local Revenue, General Allocation Fund, Special Allocation Fund and revenue sharing Fund affect the regional expenditure in the Districts/Cities of East Kalimantan Province.The resultalso shows that the adjusted R-square is 0.892 or 89.2 % means that the regional expenditure can be affected by variables own local revenues, general allocation funds, special allocation fund and revenue-sharing, while the remaining 10.8 % is influenced by other factors not examined in this study.

A B S T R A K

No abstract

The capital market is one of the investment alternatives for investors. Investors who are willing to invest in the stock market can invest in the Indonesian Stock Exchange (BEI). One index that is often overlooked by investors when they invest in the Indonesia Stock Exchange is the Composite Stock Price Index (CSPI), because through the movement of the Composite Stock Price Index, the investors can see whether market conditions are excited or lethargic. Some things that need to be considered by investors in investing is the exchange rate of the dollar, dow jones index and the interest rate of the certificate of Bank Indonesia. This study aims to test and prove empirically the effect of the dollar exchange rate, the Dow Jones index, and the interest rate of the certificate of Bank Indonesia upon the composite stock price index during the period January 2005 to January 2015. The sampling technique used in this study is purposive sampling with the number of the data processed as many as 121. the data analyzed is conducted by means of multiple linear regression method. The results show that the variables of Dollar exchange rate , Dow Jones, and the Interest Rate of Bank Indonesia Certificate simultaneously affect the Composite Stock Price Index (CSPI), whereas in partial the Dollar exchange rate does not affect the Composite Stock Price Index. Dow Jones Index has a positive influence on the Composite Stock Price Index and the rate of interest Bank Indonesia Certificate negatively affects the Composite Stock Price Index. One of the three variables that has the greatest influence or dominant on the Composite Stock Price Index is the Dow Jones index.

The study aims to measure each Sharia mutual fund performance and compare with market performance in Indonesia. Sharia mutual fund investment instruments in Indonesia have positive developments over the period from 2012 to 2017. These positive developments add to the option of investment instruments for public, especially investors who put forward the principles of Sharia. This research was conducted so that the public could have scientific information about Sharia mutual funds that have the best performance. The study found consistent results regarding Sharia mutual funds with the best performance on Sharpe and Jensen measurement methods. The best performing Sharia mutual fund by using those methods was PNM Syariah, while the lowest-performing mutual fund was PNM Amanah Syariah if measured by using Sharpe Index and PNM Ekuitas Syariah if measured by using Jensen Alpha. Different results were found when Sharia mutual fund performance was measured using Treynor Ratio Information Ratio, where the best Sharia mutual fund performance was by Manulife Syariah Sectoral Amanah mutual fund while the lowest performance was by Cipta Syariah Equity mutual fund. This findings are expected to be useful for Sharia-based investors.