The purpose of this paper is to analyze the importance of quality in university governance in Indonesia. The researcher designed this study with an approach of qualitative research approach with Focus Group Discussion (FGD) method. Participants come from 25 universities throughout Indonesia. Participants are leaders of higher education ranging from the head of the study program to the rector. The result of the focus group discussion shows that the quality of higher education will decrease if there is the scarcity of qualified lecturers. Declining quality of higher education will affect the number of students. Finally, if the student decline happens continuously, then higher education can close. So quality is a top priority in university governance.

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This study as a model estimation of factors that influence the financial distress of State-Owned Enterprises. This study contributes to the gap in an earlier study using a logistic model which classifies companies with indicators one for companies experiencing financial distress and a zero for the company is not experiencing financial distress, so it is not possible to do research specifically on one group of firms, for example, companies that experience financial distress. This study uses a marginal approach in measuring financial distress that is proxy with a marginal score with a more realistic and proven mathematics and accounting calculations. For the company's management with state, companies can use these results as a reference in evaluating the achievements of past operating performance, or to formulate strategies and policies in the future of corporate planning in order to achieve the level of marginally better scores or financial distress. This study needs to be continued by using secondary data corresponding realization of audited financial statements, so the result is more realistic and relevant because it uses the data of financial statements that meet the accounting standards.

This study aims to analysis the effect of macroeconomic variables on the overall return of company shares which is a proxy with changes in the composite stock price index.This study uses secondary data in a period of 20 months from November 2016 to June 2018. While the analysis technique uses multiple linear regression This study found that macroeconomic variables consisting of inflation rates, interest rates, money supply, and foreign exchange rates, stock returns have a significant effect on companies on the Indonesia Stock Exchange.

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