Small food businesses have difficulty accessing banks for financing. The growth of the sharing economy through financial technology (FinTech) makes it possible for small enterprises to receive access for credit. However, not all small business owners want to receive financing from FinTech companies. This study aims to analyze factors affecting FinTech adoption in small enterprises and its impact on business sustainability. The modified UTAUT 2 model was applied in this study. There were 184 small food business owners participating as respondents. To analyze the causal relationship between variables, Structural Equation Modeling (SEM) was implemented using a Partial Least square (SEM-PLS). The results of the research found that knowledge, safety perceptions, performance expectations, social influence, facilitation conditions and price values affect FinTech adoption by small food business owners. Moreover, FinTech adoption influences small food business sustainability. Several important recommendations for researchers, the FinTech industry and policy makers are formulated.

Accounting conservatism is a precautionary principle in reporting financial statements. This principle slows down the recognition of income and accelerates the recognition of costs, resulting in low profits and assets, and high costs and debt. This study aims to analyzing the effect of leverage, financial distress and profitability as independent variable to accounting conservatism in mining companies as dependent variable. The sample of this study used 20 listed companies. This research are using secondary data published by the company and BEI. Methods in this study using multiple regression analysis processed with software Eviews 10. The results showed that independent variables together significantly affect the changes in accounting conservatism. Profitability variables have a negative and significant effect on accounting conservatism of mining companies. Keywords: accounting conservatism, financial distress, leverage, mining, profitability.ABSTRAKKonservatisme akuntansi adalah suatu prinsip kehati-hatian dalam pelaporan laporan keuangan. Prinsip ini memperlambat pengakuan pendapatan dan mempercepat pengakuan biaya, sehingga menghasilkan laba dan aset cenderung rendah, serta biaya dan hutang cenderung tinggi. Tujuan dari penelitian ini adalah untuk menganalisis pengaruh leverage, financial distress dan profitabilitas terhadap konservatisme akuntansi pada perusahaan pertambangan di Indonesia tahun 2013–2017. Data penelitian ini adalah laporan keuangan dari 20 sampel perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia. Metode analisis yang digunakan adalah analisis linear berganda data panel menggunakan program Eviews 10. Hasil pengujian menunjukkan bahwa secara parsial menunjukkan bahwa leverage dan financial distress tidak berpengaruh terhadap konservatisme akuntansi. Variabel profitabilitas berpengaruh negatif signifikan terhadap konservatisme akuntansi perusahaan sektor pertambangan.Kata kunci: financial distress, konservatisme akuntansi, leverage, pertambangan, profitabilitas.

<em>The company should demonstrate good financial performance to attract investors by financial performance based on value-added and market value. The objectives of this study at PT SA limited were: (1) To analyze the financial performance by Economic Value Added (EVA) method, (2) To analyze the financial performance by Market Value Added (MVA) method. The results showed the company was not able to add economic value to the company, which proved by EVA in 2008 was higher than in 2009. It is concluded that the company can not afford to pay obligations to investors as expected. However, different result showed by MVA, which indicates the company succes to managed the investor confidence over a given capital by increasing the value of capital invested. MVA showed results in 2008, the value of MVA was positive, and in 2009, the company's MVA achieved a significant increase in the amount of 379.42% from the previous year. The share price continued to increase making the MVA values continue to rise.</em>

The availability of investment opportunity set at state-owned companies and the dividend policy taken by state-owned company management should be signals in the company's efforts to improve performance. Therefore, both the Investment Opportunity Set (IOS) and dividend policy can be factors driving corporate performance. Thus, state owned-companies can further enhance firm value. We examined the effect of the IOS and dividend policy on company performance and firm value. The sample used in this study was the state-owned company listed at the Indonesia Stock Exchange and observed for 5 years, from 2013 to 2017. Data were collected using a purposive sampling method. This study had 13 sample companies that were processed using the panel data regression method. We found the first result revealed that dividend policy had a positive effect on company performance, which had a positive effect on firm value. Besides, the IOS was observed to have a positive impact on firm value. The second result showed that the IOS did not affect the company's performance, and dividend policy did not influence the firm's value. Thus, those results proved that the company's performance could provide a signal to the firm's value.

Dividends are a tool that can be an essential source of information for investors or other stakeholders as it contains information that can provide a signal about the company's prospects (dividend signaling theory). This study aims to examine the effect of dividend policy on company performance through moderation of investment opportunity set (IOS) and free cash flow (FCF) and examine the effect of the application of corporate governance on dividend policy and company performance. Based on purposive sampling technique obtained a sample of 71 companies that meet the criteria. The study was conducted using panel data regression method. The results showed that dividend policy had a significant negative effect on company performance in the following year. IOS has a positive and insignificant effect on company performance, while FCF has a positive and significant effect on company performance. IOS variable is able to moderate the relationship of dividend policy on company performance in the following year, while FCF is not able to moderate the influence of dividend policy on company performance in the following year. In addition, the corporate governance mechanism has an insignificant effect on dividend policy which shows that the corporate governance mechanism is still not effective in increasing the number of dividends paid to shareholders. AbstrakDividen adalah alat yang dapat menjadi sumber informasi penting bagi investor atau pemangku kepentingan lain karena berisi informasi yang dapat memberikan sinyal tentang prospek perusahaan (teori pensinyalan dividen). Penelitian ini bertujuan untuk menguji pengaruh kebijakan dividen terhadap kinerja perusahaan melalui moderasi set kesempatan investasi (IOS) dan arus kas bebas (FCF) dan menguji pengaruh penerapan tata kelola perusahaan terhadap kebijakan dividen dan kinerja perusahaan. Berdasarkan teknik purposive sampling diperoleh sampel sebanyak 71 perusahaan yang memenuhi kriteria. Penelitian dilakukan dengan menggunakan metode regresi data panel. Hasil penelitian menunjukkan bahwa kebijakan dividen memiliki pengaruh negatif yang signifikan terhadap kinerja perusahaan pada tahun berikutnya. IOS memiliki efek positif dan tidak signifikan pada kinerja perusahaan, sedangkan FCF memiliki efek positif dan signifikan terhadap kinerja perusahaan. Variabel IOS mampu memoderasi hubungan kebijakan dividen dengan kinerja perusahaan di tahun berikutnya, sedangkan FCF tidak mampu memoderasi pengaruh kebijakan dividen terhadap kinerja perusahaan di tahun berikutnya. Selain itu, mekanisme tata kelola perusahaan memiliki pengaruh yang tidak signifikan terhadap kebijakan dividen yang menunjukkan bahwa mekanisme tata kelola perusahaan masih belum efektif dalam meningkatkan jumlah dividen yang dibayarkan kepada pemegang saham.