Purpose -The purpose of this paper is to evaluate how much influence good corporate governance (GCG) has on corporate value, as well as moderating effect of stock return and financial performance on the influence of GCG on corporate value. Design/methodology/approach -This study was an explanatory study. The unit of analysis was the companies listed in LQ45 in Indonesian Stock Exchange and the sources of data were ICMD, annual report and financial reports of the companies. Indonesian Stock Exchange was selected as the setting of the study since Indonesian Stock Exchange is one of trading places for various types of companies in Indonesia, and it provides complete information on company's financial data and stock price. The population was 84 companies listed in LQ45 in Indonesian Stock Exchange between 2010 and 2016. Findings -The higher GCG, independent commissioners proportion, institutional managerial and public ownerships resulted in higher corporate value. MBE and PER stock return is a moderating variable in the influence of GCG on corporate value. Financial performance is moderating variable in the influence of GCG on corporate value. Originality/value -Based on the previous studies, it may be concluded that there is a gap between the influence of GCG on corporate value and the influence of stock return on financial performance, and moderating variable is needed to evaluate the influence of GCG on company performance, more particularly stock return and financial performance. This discrepancy creates opportunity for conducting an in-depth study on those variables. Its novelty is correlation between stock return and financial performance as moderation. Previous studies used these as mediating variables. This study is going to generate different finding as it is conducted in different setting (country where this study is conducted), type of industry, research period and using different method of analysis.

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Purpose The purpose of this paper is to observe and analyze the influence of good corporate governance (GCG) and financial architecture on stock returns and financial performance and its implication for corporate value. Design/methodology/approach The data were analyzed using generalized structured component analysis. The unit of analysis for this research was LQ45 listed companies at the Indonesian Stock Exchange, taking data from the Indonesia Capital Market Directory (ICMD), and the annual reports and financial reports of these companies. The population researched was as many as 84 companies. For the sample, LQ45 companies with annual reports, financial reports and long-standing, continuous ICMD membership were examined using “purposive sampling.” The research sample was about 22 companies assessed over the course of five years (i.e. 110 samples). Findings First, GCG has a significant and negative relationship to stock returns; second, financial architecture has a significant and positive relationship to stock returns, financial performance and corporate value; third, stock returns have a significant and positive relationship to financial performance and corporate value; and fourth, financial performance has a significant and positive relationship to stock returns and corporate value. Originality/value The originality of this research is to be found in its examination and analysis of relationships between stock returns and financial performance, which was discovered to be reciprocal, namely, the relationship between the variables occurring affected each other (causality alternating with turning), whereas in previous studies the relationship between variables was unidirectional. Besides the research undertaken before, an analysis was made to understand the influence of GCG on stock returns, corporate value and financial performance. There are differences in the results between studies that support the conjecture that financial architecture has a significant positive effect on financial performance and corporate value, and also that financial architecture has a significant positive effect on financial performance and corporate value. Given those existing differences, this study reexamines the effect of financial architecture on financial performance and corporate value.

Lipases are valuable biocatalysts because they act under extremely mild conditions, are stable in organic solvents, show broad substrate specificity and exhibit high stereoselectivity. Lipases play important role in various industries such as detergent, cosmetics, flavor, pharmacy and synthesis of organic compounds. The increasing of lipases requirements in industries is goading research to get new lipases resources commited. One of potential lipase resource is Azospirillum sp.JG3 bacteria from Microbiology Laboratory of Biology Faculty University of Jenderal Soedirman. The specific targets of this research are to get crude extract of lipase and investigate its biochemical characteristics. The method used were rejuvenation of Azospirillum sp.JG3 bacteria, inoculum production, determination of optimum production time and bacterium growth phase, extraction and production of lipase to get crude extract, and characterization the biochemical properties of lipase crude extract. The research resulted that crude extract of lipase from Azospirillum sp.JG3 had optimum temperature at 40 °C and optimum pH at pH 7. The lipase was a metalloenzyme with Ca 2+ as its cofactor. The lipase was stable in three organic solvents tested, (chloroform, n-hexane and ether).

Cancer is one of diseases caused by cell division that is uncontrollable. Cervical cancer is a cancer that suffered by many women. Alternative medicine of cancer disease is use black garlic. Black garlic is the result of processing the garlic with high temperature and humidity without addition of other substances. In that process occur Maillard reaction that cause changes in the color, smell, and taste of the original on the garlic. Such reaction also lead to an increase some bioactive compounds such as S-allyl cysteine (SAC), amino acids, flavonoids, and polyphenols. To determine the toxic properties of black garlic extract, it is necessary to do isolation of polyphenolic compounds and toxicity test against Artemia salina leach. When calculated by SPSS application, the obtained LC 50 values of black garlic extract on the aging prosess time variations of 30 days and 40 days showed concentration of 682.433 and 572.403 ppm.