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Indonesia's increasing economic growth has intensified competition in the business world, particularly in the Indonesian banking sector, from conventional to sharia-compliant. Furthermore, the entry of foreign banks has made business activities in Indonesia increasingly complex. The stock market is a crucial source of funding for companies. Publicly listed companies can increase their funding sources by selling ownership in the capital market. Dividends are the distribution of company earnings to shareholders in the form of cash, assets, or other forms. Dividend policy is a policy for sharing company profits with shareholders, which is announced in the form of dividends and retained earnings for the benefit of company growth. The proportion of dividends distributed to shareholders depends on the company's profitability and dividend policy. The percentage of profits distributed to shareholders in the form of dividends is called the Dividend Payout Ratio.Differences in calculations in determining financial ratios in banking companies are an interesting focus in this study. The study results show quite significant results between financial ratios and managers' decisions in making dividend policy decisions. In the future, the results of this study are expected to be a consideration and reference for investors who want to enter the world of investment, especially in the banking sector.

This study examines the legal implications of the regulation of foreign investment (FDI) and domestic investment within the Indonesian legal system, as well as its relation to national economic sovereignty. The background of this research is rooted in the need of developing countries, including Indonesia, to attract investment in order to promote economic growth while still safeguarding national interests as mandated by the constitution. This research employs a normative juridical method with statutory and conceptual approaches. The results show that although foreign and domestic investments are regulated under a single legal framework through Law Number 25 of 2007, there are significant differences in terms of legal subjects, business entities, as well as ownership and sectoral restrictions. These differences do not constitute discrimination, but rather reflect the state’s protective legal policy. On the other hand, foreign investment brings positive impacts such as capital inflow, technology transfer, and market expansion. However, it also poses potential risks, including economic dependency and reduced policy autonomy. Therefore, a balance between investment openness and regulatory control is necessary to ensure that economic sovereignty is maintained and the benefits of investment can be optimally realized for society.

Presidential Regulation Number 10 of 2021 on Investment Business Fields introduces a fundamental transformation in Indonesia’s investment regulatory regime by replacing the previous negative list approach with a positive list system. This regulatory shift significantly affects the structure of investment liberalization, particularly in the industrial sector, which serves as the backbone of the national economy. This study aims to analyze the regulatory changes introduced by Presidential Regulation 10/2021 and examine their juridical and practical implications for the investment climate and industrial business actors. Using a normative juridical method through the analysis of legislation, policy documents, and academic literature, this research finds that the regulation enhances investment openness, expands foreign ownership, simplifies risk-based licensing, and strengthens legal certainty through the classification of priority business fields, mandatory partnerships with cooperatives/MSMEs, and conditioned business categories. However, its implementation still faces challenges, including the harmonization of sectoral regulations, regulatory–political dynamics, and the government’s supervisory capacity. Overall, Presidential Regulation 10/2021 has the potential to strengthen the attractiveness of the industrial sector and its integration into global value chains, yet its effectiveness strongly depends on consistent implementation and cross-sector policy alignment.   Keywords: Presidential Regulation 10/2021, investment regulation, investment liberalization, industrial sector, investment policy.  

This study aims to analyze the legal provisions on land rights for foreign nationals in the Indonesian land law system and to examine the validity and legal consequences of nominee agreements in the control of land rights by foreign investors. The background of this study is based on the practice of using nominee agreements (borrowing names) by foreign nationals to control land in Indonesia, which legally contradicts the provisions of the Basic Agrarian Law (UUPA) which prohibits ownership of land rights by foreign parties. This study uses a normative legal research method with a legislative approach and a conceptual approach. The legal sources used include primary, secondary, and tertiary legal materials that are analyzed qualitatively. The results of the study indicate that the regulation of land rights for foreign nationals in the Indonesian legal system is limited to use rights, lease rights, or through certain legal entities such as Foreign Investment Limited Liability Companies (PT PMA). Meanwhile, the practice of nominee agreements is a form of legal smuggling that contradicts the basic principles of national agrarian law, so that the agreement can be declared null and void. In addition, this practice creates legal uncertainty and has the potential to harm the state and society because it obscures the status of land ownership. In conclusion, firm law enforcement and regulatory harmonization between agrarian and investment law are needed to ensure legal certainty and safeguard state sovereignty over land, without hindering foreign investment in Indonesia.

This study aims to examine the factors influencing the level of sustainability report disclosure based on OJK regulations in KBMI 3 banking companies listed on the Indonesia Stock Exchange in 2023. The level of sustainability disclosure is measured using the Sustainability Report Index (SR Index), constructed through content analysis of indicators stipulated in POJK No. 51/POJK.03/2017. The independent variables analyzed in this study include firm size, profitability proxied by Return on Assets (ROA) and Return on Equity (ROE), foreign ownership, and firm age. This research employs a quantitative explanatory approach using secondary data obtained from annual reports and sustainability reports. Data were analyzed using multiple linear regression with SPSS. The results indicate that firm size, foreign ownership, and firm age have a positive and significant effect on the level of sustainability report disclosure. Conversely, profitability measured by ROA and ROE does not have a significant effect. Simultaneously, all independent variables significantly influence sustainability report disclosure. These findings suggest that structural and ownership characteristics play a more dominant role in determining sustainability disclosure than financial performance, reflecting the regulator-driven nature of sustainability reporting in the Indonesian banking sector.

This study examines the influence of foreign ownership, return on assets (ROA), and firm size on environmental, social, and governance (ESG) disclosure among energy sector companies listed on the Indonesia Stock Exchange (IDX) during 2022–2024. The sample was selected through purposive sampling, including firms that consistently published annual and sustainability reports in accordance with the Global Reporting Initiative (GRI) standards. ESG disclosure was measured as the proportion of disclosed GRI indicators to the total applicable indicators. Multiple linear regression analysis shows that foreign ownership and firm size significantly enhance ESG disclosure, while ROA has no significant effect. These results support legitimacy theory, suggesting that companies increase ESG transparency primarily to secure societal acceptance and maintain their social license to operate. In the energy sector, where environmental sensitivity and public scrutiny are high, ownership structure and firm scale emerge as stronger determinants of ESG disclosure than short-term profitability.

This paper explores the involvement of International Civil Law in the implications of foreign divorce on land rights by paying attention to the principles contained in International Civil Law. In terms of writing, the author will analyze Decision No. 19/Pdt.G/2014/PN.Sgr. as a review of facts that will be analyzed in accordance with the scope of International Civil Law using relevant research methods. The author reviews that the research method used to compile this writing is juridical-normative based on the applicable laws and regulations and in accordance with what is the subject of discussion. In addition, this paper also pays attention to the theory of legal protection by Philipus M. Hadjon and the principles contained in International Civil Law as supporting aspects in the preparation of this analysis. To strengthen the argument, the author also compares several provisions related to the status of land ownership by foreign parties and the application of pre-marriage agreements as an alternative settlement. The final result of this writing will highlight the correctness of the judge's decision based on the author's analysis and provide suggestions that are considered relevant as solutions that can be offered.

Land ownership in Indonesia has both philosophical and juridical dimensions closely linked to citizenship status. According to the Basic Agrarian Law (UUPA) of 1960, only Indonesian citizens are entitled to hold full ownership rights over land. This study aims to analyze the philosophical and juridical foundations of citizenship as a prerequisite for land ownership and its implications for social justice and national sovereignty. The research employs a normative legal method with statutory, conceptual, and philosophical approaches. Data are obtained through literature review of legislation, court decisions, and scholarly works, including Ahmad Muhammad Mustain Nasoha’s views on citizenship in the agrarian law context. The results indicate that restrictions on foreign land ownership are not merely administrative policies but a philosophical manifestation of the idea that land is essential to state sovereignty and public welfare. Juridically, this regulation reinforces the principles of nationality and distributive justice within Indonesia’s agrarian legal system. The study concludes that citizenship as a requirement for land ownership functions as a legal safeguard of the nation’s right to the land and a means to achieve social justice.  

Cross-national marriages between Indonesian citizens and foreign nationals generate complex legal issues concerning land ownership and citizenship. The Basic Agrarian Law (UUPA) and Citizenship Law No. 12 of 2006 have yet to harmonize their provisions regarding property rights within mixed-nationality marriages. This study aims to analyze the interrelation between land law and citizenship in cross-national marriages and evaluate their legal certainty. The research employs a normative-empirical approach by reviewing statutory regulations, case law, and interviews with land officials. The findings reveal a normative conflict between the prohibition of land ownership by foreign nationals and the constitutional right of Indonesian citizens married to foreigners to acquire joint property rights. Such disharmony leads to legal uncertainty and potential violations of property rights. The study concludes that reforming Indonesia’s land and citizenship law is crucial to accommodate international marriage dynamics and ensure legal certainty for all citizens.

This study offers an in-depth comparative assessment of land registration systems in Indonesia, Malaysia, the Netherlands, and Australia, acknowledging that variations in historical evolution, legal infrastructures, and administrative mechanisms have shaped each country’s approach to land governance. These foundational distinctions play a crucial role in determining how effectively each nation provides legal certainty, secures land ownership rights, and administers land records with accuracy and efficiency. The analysis explores how differing registration models—ranging from deeds-based to title-based systems—impact levels of transparency, reliability, and public trust in land management institutions. Furthermore, the study identifies the strengths, limitations, and operational challenges within each framework, demonstrating that no single system is universally superior. Instead, the effectiveness of land registration practices depends on how well they align with the socio-legal context, institutional capacity, and administrative heritage of each region. The findings emphasize the importance of context-specific policy formulation, suggesting that land administration reforms should not merely replicate foreign models but must be adapted to local legal traditions and governance needs. Overall, this research underscores the necessity of designing land registration systems that enhance legal protection, promote efficient land administration, and strengthen the long-term security of landowners’ rights across diverse jurisdictions.

The study try to investigate how corporate governance practices affect tax avoidance in manufacturing companies (listed on IDX, 2021-2023). The five independent variables are foreign ownership, audit committee, audit quality, independent board of commissioners, and institutional ownership, which are analyzed to obtain findings on their influence on tax avoidance, proxied by the Effective Tax Rate (ETR). The findings of the study show tax avoidance is not significantly affected by these five independent variables, either individually or collectively. These findings indicate that tax avoidance in manufacturing companies is not directly affected by the corporate governance mechanisms measured through these variables. This research provides implications for regulators and companies in evaluating the effectiveness of implementing various principles of good corporate governance in the oversight of tax policies.

Carbon emissions in Indonesia continue to increase in line with the growing energy consumption needed to meet public demands. Energy sector companies, which contribute significantly to carbon emissions, are expected to take responsibility for their operational activities. One form of accountability is through carbon emission disclosure as a means of transparency to stakeholders. This study aims to examine the impact of institutional ownership, managerial ownership, and foreign ownership on carbon emission disclosure. The research objects are energy sector companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2023 period. The study utilizes secondary data derived from annual reports, with a sample of 35 companies and 95 observations in total. Hypothesis testing was conducted using the t-test. The results indicate that institutional ownership and foreign ownership have a positive effect on carbon emission disclosure, while managerial ownership has a negative effect on carbon emission disclosure.

This study aims to analyze the effect of capital structure, firm growth, audit quality, and foreign ownership on firm value, proxied by Price to Book Value (PBV), in consumer cyclical sector companies listed on the Indonesia Stock Exchange during 2018–2022. The analytical method used is panel data regression with the Random Effect Model (REM) approach. The results show that capital structure has a positive and significant effect on firm value. Conversely, firm growth, audit quality, and foreign ownership do not significantly affect firm value. These findings support signaling theory, which suggests that the use of debt within a reasonable threshold can boost investor confidence and enhance firm value. Therefore, it is recommended that corporate management focus on optimizing capital structure rather than relying solely on firm growth or external factors such as audit quality or foreign investors to improve firm value.

Mixed marriages between Indonesian citizens (WNI) and foreign nationals (WNA) often give rise to legal issues, particularly in divorce cases involving the division of marital property. A key challenge arises from the restriction on land ownership for foreign nationals under the Basic Agrarian Law. This study examines Decision Number 146/Pdt.G/2021/PA.Dps, in which an Indonesian wife was accused of extortion against her foreign husband in the context of a mixed marriage divorce. Using a normative juridical method and a descriptive-analytical approach, the study finds that the wife’s act of withholding her husband’s documents does not constitute extortion, but rather a form of self-protection due to the husband's failure to provide financial support. The findings emphasize that the division of marital assets in mixed marriages must consider the provisions of the Marriage Law, the Compilation of Islamic Law for Muslim couples, and the Basic Agrarian Law, especially regarding land ownership by foreign nationals. Therefore, resolving property disputes in mixed marriages requires a careful legal approach to ensure compliance with applicable laws.  

Indonesia is a unitary state comprised of thousands of islands and vast seas. Land is a vital asset for both the people and the state; therefore, its control, use, and preservation must be regulated fairly to prevent misuse, particularly by foreign parties. This study focuses on the extent to which the limitations on land ownership by foreign nationals (FNs), as established by national law, can be effectively applied in cases occurring beyond Indonesia's jurisdiction.The aim of this research is to examine how the principle of lex rei sitae, the doctrine of cross-border inheritance law, and the concept of ordre public in Indonesian law interact with one another in order to formulate legal policies that uphold agrarian justice and national sovereignty, while also adapting to global changes. The findings of this study reveal that the principles of lex rei sitae and ordre public serve not merely as grounds for legal rejection, but as fundamental pillars in shaping land ownership policies for foreign nationals based on fairness, proportionality, and sustainability. By implementing a legal system that is firm, consistent, yet flexible, Indonesia is able to safeguard its national sovereignty while also fostering international trust as a rule-of-law state capable of facing global challenges without losing its national identity.

Globalization has increased the interest of Foreign Nationals (WNA) in owning property in various countries, whether for residential purposes, holidays, or investment. Indonesia and Malaysia, as two Southeast Asian nations, have different regulatory approaches regarding property ownership by WNA. This research aims to analyze the legal provisions, identify similarities and differences in regulations, and evaluate their impact on the investment climate and legal protection for WNA in both countries. The research method used is comparative law, focusing on the legal basis, forms of ownership, limitations, and legal protection. The findings indicate that Indonesia tends to be protective of land ownership by foreign parties, strictly regulated through the Basic Agrarian Law (UUPA) No. 5 of 1960, which limits WNA to Right of Use (Hak Pakai) and Right to Build (Hak Guna Bangunan/HGB) with limited durations. In contrast, Malaysia adopts a more liberal and pro-investment approach, allowing WNA to own property as freehold or leasehold based on the National Land Code 1965 and the Malaysia My Second Home (MM2H) program. The implications of these differences are that Indonesia's restrictive policies may reduce the attractiveness of foreign investment due to legal ambiguity and limitations in secondary transactions. Meanwhile, Malaysia offers greater legal certainty and economic appeal through freehold ownership, despite social risks such as rising property prices. This study concludes that Malaysia has a more foreigner-friendly system for property ownership, while Indonesia maintains a cautious principle. It is suggested that Indonesia consider agrarian reforms that are more transparent and provide legal certainty that balances national interests with foreign investment attractiveness.

Corporate Governance and Cross-listing are considered crucial factors in promoting corporate transparency and accountability, particularly in sustainability reporting based on Environmental, Social, and Governance (ESG) standards. A strong governance structure is believed to enhance the quality of ESG disclosure, while Cross-listing serves as an external pressure that reinforces a company's commitment to global reporting standards. This study aims to examine the influence of board size, board independence, institutional ownership, audit committee size, and Cross-listing status on the quality of ESG disclosure. The research focuses on companies in the energy and basic materials sectors listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period, using ESG data sourced from Bloomberg. The sample consists of 18 companies with a total of 73 observations selected through purposive sampling. Hypotheses were tested using multiple linear regression analysis. The results show that board size, board independence, institutional ownership, and Cross-listing have a positive and significant effect on the quality of ESG disclosure. Conversely, audit committee size has a negative and significant effect. These findings indicate that both internal pressure through governance mechanisms and external pressure through Cross-listing on foreign exchanges play an important role in driving the quality of corporate ESG disclosure.

Research This aiming For test and analyze difference performance Indonesian Islamic bank finance with Malaysian Islamic banks seen based on GCG (Good Corporate Governance). GCG (Good Corporate Governance) is assessed using the Board of Commissioners Independent , Ownership Institutional , Ownership Managerial , Foreign Ownership , Audit Committee , Board of Directors and Sharia Supervisory Board . Financial performance measured with Return on Assets (ROA) Ratio . Research This is study quantitative , and the sources of data obtained namely secondary data . Population study This is banking sharia in Indonesia and Malaysia. Research sample totaling 8 banks sharia , 4 Indonesian sharia banks and 4 Malaysian sharia banks with use report finance every year and have complete data with variables used during 2020-2023 . Retrieval sample research determined with purposive sampling technique . Variables dependent in study This is performance finance and variables its independence is is GCG (Good Corporate Governance). The method used is documentation and data analysis using analysis statistics descriptive . The test used is the Shapiro-Wilks normality test and the Mann-Whitney difference test using SPSS test tool . Based on the Mann-Whitney test shows that there is the difference in GCG (Good Corporate Governance) on the DPS ( Sharia Supervisory Board) indicator and the ROA (Return on Asset) indicator of Malaysian Islamic banks is greater superior compared to with Islamic banks Indonesia . Research This conclude that GCG (Good Corporate Governance) can increase performance finance and banking ROA (Return on Asset) sharia in Indonesia and Malaysia.

This research examines the legal status of nominee agreements within Indonesia's civil law system and their legal consequences for the parties involved. Amid increasing foreign investment in Indonesia, the phenomenon of nominee agreements has created tension between global economic interests and the principle of nationalism in land ownership. Using normative legal research methods with statutory and conceptual approaches, this research analyzes nominee agreements within the framework of the Indonesian Civil Code and the Basic Agrarian Law. The findings reveal that nominee agreements have no valid legal status as they contradict Articles 21 and 26 paragraph (2) of the Basic Agrarian Law and fail to fulfill the lawful cause requirement under Article 1320 of the Civil Code. Doctrinally, these agreements fall under the category of absolute nullity (void ab initio) as they constitute a form of legal circumvention (fraus legis). The legal consequences for all parties are detrimental, Indonesian citizens acting as nominees potentially face criminal charges and loss of land rights, while foreign citizens as beneficial owners have no legal protection for their investments.

The impact of globalization has brought significant changes in economic development in the world, rapid progress in several sectors such as transportation, technology, information and communication makes it easy for companies to develop their business by not only becoming local companies, but transforming into multinational companies. This study aims to test and analyze the effect of tax burden, exchange rate, and foreign ownership on transfer pricing in food and beverage sub-sector companies listed on the IDX for the period 2020-2022. This type of research is correlational research with a quantitative approach. The sample in this amounted to 51 financial reports obtained from 17 food and beverage sub-sector companies listed on the IDX during the 3-year period. The analysis method used is statistical method with the help of IBM SPSS 26 application. The results show that the tax burden and exchange rate partially have a negative effect on transfer pricing, while the foreign ownership variable has a positive effect on transfer pricing, and the tax burden, exchange rate, and foreign ownership variables simultaneously have no effect on transfer pricing.