The Effect of Auditor’s Reputation, Underwriter’s Market Share and Spread on Underpricing of Indonesian Initial Public Offerings

The presence of capital market supporting professions and institutions such as auditor and underwriter are required by the Indonesia Stock Exchange (IDX) to assist issuing company in the process of going public. Using a total of 156 non-financial firm IPOs listed on IDX during the period 2007-2017, the main purpose of this paper is to investigate the effect of auditor’s reputation, underwriter’s market share and spread on level of underpricing, The method used in this paper is pooled Ordinary Least Squares (OLS) regression. Findings of this paper showed that underwriter’s market share and auditor’s reputation have a significant negative effect on level of underpricing, while underwriter’s spread is insignificant to underpricing. This paper concludes that in Indonesia underpricing is lower for IPO firm that associated with reputable auditor and high-market share underwriter. Also, underwriters use their spread to substitute underpricing rather than using it as a complemen

The Effect of Firm-Characteristics and Corporate Governance on Corporate Social Responsibility and Future Firm Performance

This study aims to determine firm-specific characteristics (profitability, leverage, and size) and corporate governance (board size, board independence, women board of directors, and audit committees) affect the performance of Corporate Social Responsibility (CSR) and the effect of CSR performance on the future performance firms in the next 1-3 periods by mining sector companies listed on the Indonesia Stock Exchange in 2008-2017. The method used is Ordinary Least Square (OLS) regression with the type of panel data. The findings of this study that profitability, size, board size, board independence, and women of board are not related to CSR performance in mining companies. However, leverage and audit committees affect CSR performance in mining companies. CSR performance affects future firm performance during the 1st period after the CSR performance of mining companies. This study provides new knowledge and contributes to further research regarding factors that affect CSR performance and CSR performance can provide company performance in the next periods. These results can encourage companies to disclose CSR performance because there seems to be a positive influence on future performanc

Accounting Students’ Perception and Interest in Auditor Profession: The Role of Learning Experience and Setting

The purpose of this study is to examine the role of learning and teaching in forming interest in auditor profession, by adjusting an experience as a learning experience and replacing work setting with learning setting. It explains the role of the learning experience (affective aspects) and learning setting (cognitive aspects) to form students’ perception and interest in auditor profession. This study tests path analysis among motivation, learning experience, learning setting, social, perception, and interest. The questionnaire was distributed directly to 5th-semester students in Accounting Department in one of a state university in Indonesia who had taken auditing courses. Questions were given to measure all constructs using a Likert scale of 1 to 5. Motivation in learning audit has a crucial role in forming interest. The learning experience encourages interest, whereas learning setting does not. Social aspect represented by parents and peers also have influences on building interest. However, motivation, learning setting, and learning experience do not form perception. Perception related to status, value, and career prospect of auditor also does not affect interest. Limitation of this study is limited samples and the need to improve indicators of perception to result better findings. This study implicates that students’ interpersonal interaction with lecturers, parents, and peers is important. Lecturers could build motivation, provide a learning experience, and increase interest in the particular profession. Parents and peers could direct interest

Investment-Cash Flow Sensitivity and Financial Constraints: Indonesia Evidence

Capital market imperfection has made the firms rely on internal cash flow as an investment funding (Investment-cash flow sensitivity). Using data from a sample of 139 non-financial firms listed in Indonesia Stock Exchange from 2010 to 2017, this paper examines whether Investment-cash flow sensitivity (ICFS) could be found in Indonesia and to test by how much ICFS in financially constrained and unconstrained firms are. The method used in this study is panel data set using E-views 9 Software to estimate investment-cash flow sensitivity. In addition, we construct financial constraints measure by extracting Principal Component Analysis with three different measures, the probability of paying a dividend, bond ratings, and firm size. The result shows that cash flow is positive and statistically significant to investment. Furthermore, Investment-cash flow sensitivity is found to be higher for financially constrained firms. To conclude, this paper provides a supporting evidence the precense of ICFS in Indonesi

Capitalism in Tourism – Marxist: Analysis of Enjoy Jakarta

Enjoy Jakarta is a new slogan from Provincial Government of DKI Jakarta to promote tourism in Jakarta. Through the tagline of Enjoy Jakarta, the Provincial Government of DKI Jakarta through the Department of Tourism and Culture wants to retail Jakarta as an attention-grabbing city to visit. Based on the website www.jakarta-tourism.go.id, there are all recommendations regarding with tourism in Jakarta, ranging from history and culture of Jakarta, events, destinations, to brochures and electronic guidebooks, which can be downloaded. It is fascinating to see on how content from the Enjoy Jakarta website sells countless capitalist products, such as in destination categories, events, and up to the basic information. This paper performs a critical analysis of “Enjoy Jakarta” tourism by utilizing Marxist analysis method. This analysis is carried out using the Marxist rationale teaching and applying these Marxist concepts to the public art form created by the media. Marxist analysis is done on the content embedded in the website of www.jakarta- tourism.go.id. The results of this study indicate that tourism in Jakarta is displayed in the form of selling products of capitalism. Tourism is identic by shopping at malls, savoring culinary in famous restaurant brands, and various activities organized by the bourgeoisie

Potentials of Social Media as Media Facility of Tourism Promotion Based on Community Participation

The potential of social media as a media of tourism promotion is vastly massive. Nevertheless, the problem is on how to get social media can be widely known and has abundant followers for the publicized content could be accepted by the crowd. Normally, social media of a tourism promotion is integrated with conventional media like television, radio and newspapers. What if a region does not have large funds to interact with the conventional media, such issue be overcome with community participation. Community participation here is by involving various elements of society in the targeted region to participate in promoting the tourism potentials through their social media respectively. Such first step is considered more effective than creating the social media from the scratch. Local governments can facilitate to create a community in quest to capture users of social media in their area, so that local governments can easily regulate and manage social media users in promoting tourism in their respective regions

Synergy of Government and Private in Strategic Planning of Tourism Region Development

Tourism is one of the most promising fields to support the economic development of a region. As one of the source of locally generated revenues (PAD), the government and private sector should form a synergy in formulating strategic planning for tourism development in the region. The purpose of this study is to analyze the synergy of government and private party in formulating strategic planning at Wisata Bahari Lamongan (WBL). This research is a qualitative descriptive research. Data acquired from observation, interview, and documentation. The selection of informants was done by purposive sampling technique. Data analysis technique is done by utilizing Miles & Huberman interactive model. The results of this study indicate that WBL's strategic planning process involves monitoring, preparation, implementation and evaluation. The long-term aims of the WBL are structured in outstanding mission vision, yet there are weaknesses in the WBL mission that there is no specific mission to overcome the decline of the visitors. The outcomes also indicate that there is a low synergy between government, private, and community in WBL development planning. Communication and coordination in policy formulation is a major cause of low synergy among stakeholders.

Online Media Analysis in Tourism Reporting: Policy Study of Detik Travel Redaction And Tribunnews Travel

Media editors that focused on tourism news have different routines than editors of political, legal, economic, or news event have. This study aims to analyse the role of online mass media, specifically one, which focused on tourism news (travel) in preparing its redaction policy. This research utilizes the pattern of information search by tourists from Pan, editorial policy, and web traffic optimization. Online media that acted as the object of this research is Detik Travel and Tribunnews Travel. The research approach used is qualitative descriptive by interview with executing editor from both media. This study reveals the editorial of both online media think through the needs of end-users in presenting the content. To find out the users’ needs, editors conduct a research on Google Trend, and social media. In addition, the two editors of the online media involve them, the tourists, in contribute to the content and become a community of travellers on the media, so that the editor can acquire the latest information and surely needed by tourism information enthusiasts

Marketing Communication Tourism Purbalingga District (Study of Communication Analysis of Digital-Based Tourism)

The number of tourism objects in Purbalingga that are worth to be known and to be visited by all of us. Therefore, the tourism objects are very necessary to be informed to attract as much as possible potential tourists. Spreading information of tourism objects for tourist can happen in various ways, one of them that now very popular is the usage of internet/digital media. Because it can reach audience more widely. Methodology of this research is descriptive qualitative. Determination of informants are using purposive sampling, which is representative. There are two types of data source: which are primary data source and secondary data. The techniques of collecting data are in-depth interviews, observation, and documentation. The way of analyzing data are reduction, data presentation and integrated conclusion drawing. The results showed that the communication of tourism objects by using digital-based are very effective and efficient. Social media is also very helpful in disseminating tourist information in Purbalingga, and also Purbalingga tourism community that is intensively promoting Purbalingga tourism objects. Theoretically, Purbalingga tourism marketing strategy based on digital communication that is used is Kotler and Keller's theory. The elements are advertisement; sales promotion, events and experiences, public relations and publicity, direct marketing, interactive marketing, word of mouth marketing, sales personnel. Those elements of communication are supported by the internet

Educational Tourism on Screen (ETOS)

Community participation in maintaining natural resources, culture, independence and intelligence in the utilization of technology will contribute great as a tourist attraction. Educational Tourism on Screen (ETOS) requires smart people to communicate and apply technology to support development, especially in tourism. Counseling about the importance of technology related to the improvement of education for people in tourist areas to be one that gets special attention. In addition the team of extension organizers also needs to upgrade its ability in the field of tourism and technology in order to promote certain areas of tourism. ETOS concept will lead to the application of education and the introduction of tourism through the computer screen or smartphone only with a scan on the writings or audio related tourism term in question and then on the screen will appear detail explanation of the term you want to search. Technology becomes an important tool in this application. It needs a lot of refinement and support so ETOS ideas can come true