This study aims to test the effect of working capital management on firms’ profitability and the effect of this relationship on sustainable growth. Our sample firms are 136 manufacturing firms listed in the Indonesian Stock Exchange from 2010 to 2017. We use data panel regression with fixed effect estimation model to analyze our data. The results demonstrate that working capital significantly affects firms’ profitability. However, working capital management does not exhibit a significant direct influence on sustainable growth but a significant indirect influence through firms’ profitability. Thus, this study suggests that firms need to manage their working capital to increase their profits and eventually to achieve sustainable growth. This study contributes by including sustainable growth in the analysis of the relationship between working capital and firm performance. In addition, this study will likely contribute to managers in efforts to increase sustainable growth for their enterprises through working capital management.

In practice, there are some aspects which contribute to decision making process. One of those aspects is psychological aspect which cannot be separated from human being. Psychological aspect in the study of finance is called as the study of behavioral finance (cognitive bias, emotional bias, and social bias) could lead to investor's irrationality in decision making. This study aimed to analyze the influence of dissonance bias, overconfidence bias, and herding bias to investment decision in Investor Club of Satya Wacana Christian University (SWCU). This study utilizes the purposive sampling method. The sample in this study covers the whole investor in Investor Club of SWCU. The results of this study indicate that: (i) Cognitive dissonance bias has an insignificant influence to investment decision ; (ii) Overconfidence bias has a positive and significant influence to investment decision; (iii) Herding bias has an insignificant influence to investment decision. This means that investors tend to use the emotional aspect rather than on the cognitive and social aspects of investment decision making. As a result investors are overconfident of their ability and the outcome of investment decisions is not maximal and can cause losses.

The research aims to investigate the effects of capital structure and profitability on firm value with Good Corporate Governance (GCG) as its moderating variable. This study uses annual financial report data obtained from 27 companies listed in the Index Business 27 for years 2014-2016. Data collection techniques using purpose sampling method with a sample of 23 companies. Analysis of this study using with STATA 11 program. The results show that the capital structure does not significantly affect the value of the company with Good Corporate Governance as a moderating variable, while profitability significantly influences the value of the company with GCG as its moderating variable.

Developing microfinance in rural areas by considering local wisdom in Sumba-island becomes an urgent issue due to limited access to formal financial services experienced by the majority of the villagers. This study aims at describing the forms of local wisdom in rural microfinance to overcome problems of access to financial services. This is in line with the government program of financial inclusion for villagers in the remote area. This study uses the qualitative method in the form of a case study in Mbatakapidu village in East Sumba region. Data was collected through observation and focus group discussion with community leaders and several non-government organizations. The findings show the existence of local wisdom in saving and investing by the villagers to overcome the limited access to formal financial services. In addition, there is evidence of village development using a bottom-up approach by considering the local wisdom to reduce poverty through microfinance development. Thus, culture-led development might be an alternative policy for the local government in developing microfinance.

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