Duas décadas de atuação do Ministério Público Federal em crimes contra o mercado de capitais: lacunas, prioridades e perspectivas

Low capital market literacy in Indonesian society is the cause of the low investment value in the capital market. It led to the establishment of the Indonesia Stock Exchange (IDX) investment gallery (IG). Its existence as a means of education and socialization is expected to increase capital market inclusion. This study analyzes the impact of the IG’s existence on investment interest in the capital market by taking a sample of West Java as the province with Indonesia’s largest population. The authors find that the public interest in visiting IG increases every year by an average of 38%, this is accompanied by an increase in opening new accounts in the capital market, with an average increase of 48% each year. The statistical tests results show that the greater the number of IGs, the greater the number of transactions in the capital market (p < 0.05). The results of this research can certainly be an input for the IDX to increase the number and activities of IG throughout Indonesia to increase Indonesia’s economy through capital market literacy and inclusion, besides that this research also produces a structured and systematic capital market education model. The research results can also reference countries with developing capital markets to adopt the IDX policies in attracting investors, especially domestic investors.

This study aims to analyze and obtain empirical evidence of the influence of financial literacy and demographic factors on public interest in investing in the capital market. This research is a quantitative research with data collection methods using questionnaires distributed to the public in DKI Jakarta with the condition that people who already have income which are 4,836,980 correspondents. A minimum sample of 100 respondents is obtained by calculating the sample using the Slovin technique and data processing is assisted by using SPSS statistical software, the feasibility test of the data in this study uses validity and reliability tests, while for the analytical method using descriptive analysis, classical assumption test, multiple linear regression analysis and hypothesis testing. The results of this study are financial literacy has no significant effect on people's interest in investing in the capital market, while demographic factors have a significant effect on public interest in investing in the capital market but after a feasibility test on the two independent variables the results are both variables have a significant effect on people's interest in investing in the capital market. capital market

Investment is something that is usually done by every individual, both in real assets and financial assets. Financial assets in the capital market, such as buying stocks or bonds, are something new for Indonesians to invest in compared to other countries that have developed very rapidly. The reason for the lack of public interest in investing in the capital market is due to the lack of knowledge about investment in this sector. This study aims to further examine sociodemographic factors as moderating variables that determine the interest of the people of Medan in investing in the capital market. The analysis technique of Moderated Regression Analysis (MRA) is a data analysis technique used in this study. The results of this study were conducted at a level of 5% which states that partially knowledge and sociodemography have a positive effect, while perception has no effect. In addition, sociodemography moderates by weakening the relationship between knowledge and public interest in investing in the capital market, while sociodemography moderates by strengthening the relationship between perceptions of people's interest in investing in the capital market. Meanwhile, simultaneously each variable influences people's interest in investing in the capital market.

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With the Capital Markets Union (CMU) project, the European Union is pursuing the goal of establishing a true single market for capital in Europe. To this end, the European Union has taken numerous measures. Nevertheless, markets remain fragmented, partly because capital market regulation diverges across Member States. Therefore, more courageous reforms are needed than those envisaged in the European Commission’s action plans. The proclaimed goal of a capital markets’ enhanced single rulebook can best be achieved through a codification of the regulatory frameworks. This book explains the idea of codification, looks at the added value of a European Capital Markets Code (ECMC), and elaborates on the goals of the future codification act. The regimes should be brought together in a single legal act in the form of a regulation and organized in a systematic way in order to reduce complexity thereby facilitating accessibility of capital markets law. The book also discusses possible contents of a European Capital Markets Code, addresses approaches to regulatory reforms, and explores the role of private enforcement.

This study aims to determine the factors that influence public interest in investing in the capital market in the people of Semarang Regency, Indonesia. This study uses a quantitative approach. The research sample is the community or residents of Semarang as many as 62 people. The instrument used is a questionnaire. Data processing using SPSS program. The method of analysis with multiple linear regression model. In this research, the data analysis technique and variable measurement used validity test, reliability test, and classical assumption test. The results of the research test are that the variables of knowledge, income, and motivation have a significant positive effect on people's interest in investing in the capital market. While the risk variable has no significant effect on public interest in investing in the capital market.Keywords: Intention, knowledge, income, motivation, risk, investment

This research is entitled The role of capital markets in increasing economic growth in Indonesia. The aim of this research is to determine: 1) The contribution of the capital market in economic growth, 2) Trends in the capital market in Indonesia's growth 3) Opportunities and challenges faced by the capital market in Indonesia. In implementing a country's national economic development, funding is needed from the government and society, while one alternative source of funding is the capital market. The capital market is a place to trade securities issued by institutions and professions related to securities. The research method used was a literature review. The role of the capital market in national economic growth can be seen through its influence on macroeconomic indicators such as the real exchange rate, inflation rate and economic growth as measured by Gross Domestic Product. And the development of the capital market in Indonesia is moving positively, which can be reflected in the increase in public interest in investing in it. This can be observed from the growth in the number of investors registered with the Indonesian Central Securities Depository (KSEI) through single investor identification (SID).

Agency Problems, Auditing, and the Theory of the Firm: Some EvidenceAuthor(s): Ross L. Watts and Jerold L. ZimmermanSource: Journal of Law and Economics, Vol. 26, No. 3, (Oct., 1983), pp. 613-633Published by: The University of Chicago PressStable URL: http://www.jstor.org/stable/725039Accessed: 29/06/2008 23:14

Indonesia’ level of financial inclusion and literacy index in the Islamic capital market is quite slow for around 0,022% and 0,01% eventhough Indonesia is a country with largest Muslim majority (85% o population). Furthermore, the fact shows that Indonesia is the country with the 4th highest grwoth in the capital market industry in Asia-Pacific throughout 2017. The potential for growth and development of Islamic capital market in Indonesia is very high, but not followed by the growth rate of financial literacy and inclusion index especially in the capital market sector. The aim of this paper is to identify a new strategic approach that is applicable to increase Islamic financial literacy and inclusiveness in terms of Islamic capital market. This study uses a qualitative method with literature from journal articles, government reports, news, and others in reviewing, identifying, and knowing the strategies o be implemented. The result shows that there were six specific strategies used in increasing the literacy index and inclusion index of Islamic capital market, namely, rebranding negative investment stereotypes, building sustainable promotions and campaigns through offline and online platforms, creating an integrated online market for capital market product.

Globalised educational environments and national pressures increasingly drive European universities and faculties within them to adopt both competitive (as opposed to co-operative) and strategic (rather than ad hoc) approaches towards the internationalisation of their activities. This study examines the degrees of implementation of competitive and/or strategic approaches to internationalisation of a sample of 92 European business schools. Several possible antecedents of competitive and strategic orientations towards internationalisation are considered including coercive, normative and mimetic influences, risk aversion, resource availability and institutional priorities. The level of a business school's autonomy from its host university is also hypothesised to affect internationalisation decisions. It seems from the results that engagement with internationalisation activities is widespread and that, apart from risk aversion, all of the above variables typically impact on the total extent of a business school's internationalisation activities. A number of these variables also appear to encourage the application of strategic and competitive approaches towards internationalisation. An important implication of this study is that business schools which to date have not fully recognised and accepted the implications of the Bologna Declaration will increasingly face severe disadvantages vis-à-vis international recruitment and operations as they become ‘left behind’ by rivals that have already taken Bologna on board.

Venture Capital has grown dramatically in European countries during the past decade. Despite lack of entrepreneurial culture, fragmented market, lack of capital mobility, state domination, ineffective second tier market in Europe, the venture capital flows continued unabated throughout 1980s. However, the growth rate of venture capital has not been at the same rate in all the European countries. It has been observed that the process of venture flows is affected by the various environmental factors. An attempt is made in this paper to analyse the process of venture capital flows, identify the environmental factors and venture capital flows in five European countries namely United Kingdom, Germany, France, Italy and Spain over a period of nine years. The empirical results clearly indicate a high degree of relationship between venture capital flows and stock market indices, initial public offerings, interest rates and technology in all the five European countries. Capital gains tax rate has no impact or little impact on venture capital flows in Germany, Italy and Spain. In case of United Kingdom and France, there is a positive relationship between capital gains tax and venture capital flows. The findings of the study have far reaching implications for the venture capitalist, investors, entrepreneurs and researchers. Constructive policy related to interest rates, technology, capital market and capital gains tax is crucial for the growth of venture capital industry and hence entrepreneurial growth. Finally, the study had identified few specific areas for further research in venture capital industry both in Europe and India.

Public awareness, interest and knowledge of the Capital Market is still very low. In an effort to introduce to the public related activities in the capital market, socialization activities are needed. Capital Market Socialization was carried out in the Srengseng Sawah Village District of Jagakarsa District, which was the first activity of capital market socialization. This capital market socialization is one of the education programs which is expected to increase public awareness and interest in the capital market, so that the number of investors in Indonesia can increase and the investment climate becomes better to improve the Indonesian economy. In addition, the community is getting smarter in investing their funds, and is expected to provide benefits for family welfare.

This chapter takes its point of departure in United Nations (UN) and OECD business governance instruments as examples of emerging transnational governance to address public interests and social expectations and needs through norms for transnational economic activity and institutions to promote and enforce such norms. This is discussed from the interaction between the UN Framework (2008) and Guiding Principles on Business and Human Rights (2011) and the 2011 revision of OECD’s Guidelines for Multinational (and other) enterprises. These are evidence of active governmental involvement in shaping CSR through transnational normative standards and social risk-based due diligence recommendations, and the reactive and proactive enforcement and promotional role of National Contact Points under OECD’s Guidelines. We discuss this from the perspective of public authorities’ rationality leading them to address public interests through CSR. We show that a public interest and transnational law take on authorities’ soft or hard efforts to shape business activity through CSR offers a perspective that differs from the previous literature on the public–private connection between CSR and public interests. It adds to the literature by focusing first and foremost on CSR as a way to implement public policy interest through business activity rather than the strategic interest of business, and because it shows that CSR is shifting from implicit or even explicit business focus on assisting in governmental tasks to explicit public regulatory focus aiming at reducing business-related infringement of public interests.

&lt;span&gt;According to article 68 of the Capital Market Law (CM Law) states that accountants registered with the Financial Services Authority (FSA) who examine the financial statements of issuers and other parties carrying out activities in the capital market are required to submit a confidential notification to the FSA within three days at the latest. The things that may be reported are violations committed against the provisions of the CM Law or its implementing regulations; or things that could endanger the financial condition of the institution or the interests of its customers. When performing audit actions, the auditor that supports the stock market faces a conundrum. the conflict between society’s interests and the company’s objectives. This study aims to examine how accountants can report financial reports that are suspected of violating applicable laws and regulations and the accountant’s dilemma between regulators or the public interest and issuers as the party paying accountants according to the agency theory. This research uses normative juridical method. This study concludes that accountants can report to regulators after obtaining written explanations from the directors so that reporting cannot be done as soon as possible. Accountants in providing an opinion have a dilemma. The originality of this study highlights the need for professionalism and independence in those who support the capital market. In the event of a violation, capital market support specialists, including auditors, are required to notify the authorities. The appropriate authorities should be informed of the audit’s preliminary findings.&lt;/span&gt;

Purpose: This study aims to analyze capital market regulation through the lens of philosophical principles to evaluate the balance between transparency for the public interest and the protection of individual privacy rights in achieving justice. Methodology/Approach: This research adopts a normative legal method supported by conceptual and philosophical approaches. The study analyzes primary legal instruments, secondary literature, and tertiary references through qualitative library research to examine regulatory tensions between transparency and privacy in Indonesia’s capital market governance. Results/Findings: The findings show that Rawlsian justice, Kantian autonomy, and utilitarian ethics are useful frameworks for evaluating the ethics of capital market regulation. Although Indonesia’s Capital Market Law and OJK regulations emphasize transparency, investor data privacy remains inadequately protected. Adopting stronger data protection standards, such as the GDPR, alongside local principles of maslahah and subsidiarity, can enhance regulatory fairness and reduce burdens on small market participants. Conclusions: The study concludes that harmonizing transparency and privacy requires risk-based, ethically informed reforms that are responsive to technological changes. Strengthening the integration between capital market law and personal data protection is essential for creating a more just and sustainable regulatory framework. Limitations: This research is limited to theoretical-normative analysis and focuses primarily on the Indonesian legal context, which may affect its broader applicability. Contribution: The study contributes to the intersection of legal philosophy, capital market regulation, and data governance by proposing a value-based framework for balancing transparency and privacy. Its implications are particularly relevant for lawmakers, regulators, and legal scholars in emerging economies.