<p>Construction of new road network ring, was actually giving an indirect impact on the socio-economic to the surrounding population. The existence of Ambarawa Ring Road is alleged to give effect to the business group pancake merchants who are members of the UKM Mekar Sari.</p><p>The method used in this research is qualitative method with phenomenological approach. Researchers describe the research subjects are traders pancake incorporated in one business group SME Ngampin Ambarawa village called Mekar Sari totaling 40 people as actors who are the target of observation or informants in a study conducted by the researchers. In this study, the types and sources of data used are primary data and secondary data.</p><p>Negative impacts to the ring road is a decrease in turnover of each of the traders pancake that is because the users prefer to go straight through the roundabout Ambarawa while the positive impact that arises in the presence of a ring road, traders are more willing to be creative that is willing to innovate products with try flavors and display products such as jackfruit, banana and sow meses cheese. It is intended to draw back buyers. This area actually has the potential and the need to touch or redirection location lots crossed by vehicles. They just need a lot of people know that they are still there, and what they contributed still feasible to provide a sensation with their typical food when passing on the street Ambarawa.</p>

The existence of a research gap compared to previous studies related to the effect of the relationship between institutional ownership and investment opportunity set on firm value in Indonesia is interesting to review. This study aims to reveal the relationship of these influences by adding capital structure as a moderating variable that serves to strengthen it against firm value. The research variables are the ratio of market value to book value of assets, institutional ownership, debt-to-equity ratio and free cash flow. The research timeframe is 2019–2021, using data taken from companies in the manufacturing sector in the Indonesian Capital Market (IDX). Data sampling was carried out using the purposive sampling method. Data analysis to determine the relationship of these effects and hypothesis testing were performed using multiple regression. The empirical research findings indicate that the investment opportunity set has a positive effect on increasing firm value, while capital structure has a negative effect on decreasing it. Institutional ownership and free cash flow do not determine firm value, so free cash flow does not serve as a control variable. The main finding of this study is revealing that capital structure plays a role in strengthening the effect of the relationship between investment opportunity sets on firm value. Acknowledgments This research is an independent study that is not funded by donor agencies.

<p><em>A small industry has a strategic role in driving the economy. One of the potential small industries to be developed is the tempe industry. This study aims to analyze the benefits and feasibility tempe crafts manufacturer in Lamper Tengah Village, Semarang Selatan District which is the largest tempe industry area in Semarang City so that the results of the analysis can be taken into consideration to further develop their business.</em></p><p><em>This research design uses quantitative methods. This research is a case study so business owners making tempeh in Semarang City is used as a source to obtain information needed in research. The data used are primary and secondary. Data collection techniques carried out by interview, observation, and recording. Data obtained analyzed using profit analysis  <em>Ï€ = TR-TC  </em>and to find out business feasibility using the formula  <em>R / C  </em>Ratio.</em></p><p><em>The results of this study indicate that the average total cost incurred by tempe producers in Lamper </em><em>Tengah Village</em><em> per month is Rp 16,916,210.70. The average amount of tempe produced was 18,108 packs with an average price of Rp. 2,500, so that the average monthly income earned by tempe craftsmen is Rp 45,270,556 and the average profit gained is Rp 28,354,355. The business of making soybean tempe has an efficiency value of 2.68, meaning that every one rupiah the costs incurred will get an income of 2.68 times the cost incurred, then the tempe industry business in </em><em>Lamper Tengah</em><em> </em><em>Village </em><em>is feasible to continue and can even be invested in industrial development the tempe.</em><em></em></p><p><strong><em>Keywords</em></strong><em>:</em> <em>Profit, Business Feasibility, Tempe Crafts</em><em> Man</em><em>ufacturer</em><em></em></p>

<h3><em>Mico Small and Medium Enterprises (MSMEs) play a very important role in stability, job creation and economic development of the nation. Thus, MSMEs need to acquire the attention of all parties by paying attention to the potential that exists in each region especially in the era of Asean Economic Community (AEC). This research is generally aimed to describe: MSMEs Strategy in facing AEC. This research uses descriptive explorative approach by analyzing MSMEs strategy in facing AEC. The survey was conducted on five featured clusters of MSMEs in Semarang City namely batik cluster, food processing cluster, handicraft cluster, tourism cluster and milkfish cluster. The population of this study consists of MSMEs entrepreneurs who joined MSMEs clusters in the city of Semarang. Selection of Semarang city as a research location is determined based on the consideration of economic development plan aspect especially in the field of trade. Determination of the MSMEs entrepreneur samples is done purposively based on the consideration of homogeneity and real condition of MSMEs clusters in Semarang City. The number of employer samples is 78 people. Data obtained from the field of research are analyzed descriptively by using Internal-External Matrix model. This study resulted in the conclusion that to face the era of AEC, the appropriate strategies for MSMEs in Semarang city is the strategy of growth through horizontal integration.</em></h3>