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Penelitian ini bertujuan untuk menguji secara empiris terjadinya fenomena flypaper effect pada pendapatan asli daerah dan dana alokasi umum terhadap belanja daerah di Provinsi Jawa Timur. Flypaper effect dapat terjadi jika suatu daerah memiliki pendapatan asli daerah yang rendah, sehingga pemerintah daerah tersebut memiliki ketergantungan terhadap dana transfer dari pusat. Ketergantungan dana transfer dari pusat menjadi hal yang menarik di tengah penerapan otonomi daerah yang semakin mapan. Penelitian ini menganalisis 37 kabupaten/kota dari total 38 kabupaten/kota di Provinsi Jawa Timur, satu kabupaten/kota dikeluarkan dari sampel penelitian karena data yang tidak tersedia. Metode penelitian yang digunakan adalah metode penelitian kuantitatif dengan teknik analisis analisis regresi linear berganda. Hasil penelitian menunjukkan bahwa pendapatan daerah dan dana alokasi umum berpengaruh terhadap belanja daerah di Provinsi Jawa Timur. Pengujian lebih lanjut menunjukkan terjadinya fenomena flypaper effect di Provinsi Jawa Timur.Kata kunci: Belanja Daerah, Dana Alokasi Umum, Flypaper Effect, Pendapatan Asli Daerah

Covid-19 Pandemic has caused massive changes. Lockdown policy set by the government to suppress the rate of transmission of the virus has had huge impact on the economy. Many companies must suffer losses, even have to declare bankruptcy. Operational activities had been limited that caused the company no longer being able to rely on internal funding to finance its business. The company is faced with a choice of external funding decisions, that is increasing debt (on liability side) or issue shares (on the equity side). This study aims to examine the effect of capital structure during the pandemic on financial performance. This research conducted on 121 companies from consumer non-cyclicals, transportation & logistic, and banking sector listed on Indonesia Stock Exchange. The results show that during the pandemic companies tend to prefer to increase debt than equity. Further testing shows that the companies with dominant debt capital structure have positive effect on financial performance. Meanwhile, the companies with a dominant equity capital structure have no significant effect.Keywords: debt, equity, financial performance, pandemicABSTRAKPandemi Covid-19 menyebabkan perubahan yang sangat masif. Kebijakan lockdown yang dilakukan oleh pemerintah untuk menekan laju penularan virus memberikan dampak yang sangat besar bagi perekonomian. Banyak perusahaan yang harus mengalami kerugian, bahkan harus mengumumkan kebangkrutan. Kegiatan operasional perusahaan yang terbatas mengakibatkan perusahaan tidak lagi dapat mengandalkan pendanaan internal untuk membiayai usahanya. Perusahaan dihadapkan pilihan keputusan pendanaan eksternal, yaitu menambah utang (di sisi liabilitas) atau menerbitkan saham (di sisi ekuitas). Penelitian ini bertujuan untuk menguji pengaruh struktur modal di masa pandemi terhadap kinerja keuangan. Pengujian dilakukan ke 121 perusahaan dari perusahaan sektor barang konsumen non-primer, transport dan logistik, dan perbankan yang terdaftar di Bursa Efek Indonesia. Hasil penelitian menunjukkan bahwa di masa pandemi, perusahaan cenderung lebih memilih menambah utang dibandingkan ekuitas. Pengujian lebih lanjut menunjukkan bahwa sampel perusahaan dengan struktur modal dominan utang menunjukkan hasil berpengaruh positif pada kinerja keuangan. Sedangkan pada sampel perusahaan dengan struktur modal dominan ekuitas menunjukkan hasil tidak signifikan.Kata kunci: ekuitas, kinerja keuangan, pandemi, utang

This study examines the effects of state equity ownership on the relationship between corporate social responsibility investment and tax avoidance. Using a 474 firm-year observation sample of Indonesian companies from 2015 to 2018, we use the ordinary least square and subgroup analysis regressions to estimate the model with various proxies for tax avoidance. The results show that the companies with higher CSR investment have lower tax avoidance behavior in various proxies. In other words, companies with higher social responsibility performance will make lower tax savings. Furthermore, companies with state equity ownership have a lower relationship between CSR spending activities and tax avoidance than nonSEO companies. This research has several implications: First, this study uses total CSR expenditure as a proxy for CSR investment. Further research can create categories based on the type or dimension of CSR. Second, the research sample for state equity ownership is very small, and the next research can use a paired sample. This paper highlights the implication of CSR investment on taxation in Indonesia, and its findings have implications for regulators. Regulators can encourage the company's CSR activities, but the impact of these activities may differ depending on each company's motives, especially tax avoidance.

The aim of this research is to examine the relationship between innovation and performance in culinary sector MSME in Indonesia. This research also examines the mediating role of competitive strategies on the correlation of innovation in SME performance. This study proceeds using a quantitative approach and Partial Least Square (PLS) through SmartPLS software. The sample of this study consisted of 201 SMEs in Indonesia (specially in Surabaya) that engage in the food and beverage (culinary) sector, and the researcher used an accidental sampling technique to collect data. The result revealed that process innovation was directly, positively, and significantly related to the performance of SMEs. Furthermore, the analysis found that competitive strategies, including cost leadership, differentiation, and focus, mediated a partial relationship between innovation and SME performance and had a full mediation of innovation in SME performance. This study shows that SMEs with process innovation can more easily achieve superior performance than SMEs which implement product-oriented innovation. This research focused on SMEs in Surabaya, so it is necessary to be careful in generalizing the results to other locations or business sectors.