The national intellectual capital of Indonesia was the worst among five major Southeast Asian countries (Lin, Edvinsson, Chen, & Beding, 2014). To overcome this issue, President Joko Widodo provides his direction and commitment in the development of human capital in Indonesia (World Economic...

Intellectual capital has gained increasing attention, and its importance has been acknowledged widely including in Indonesia. Despite the importance of intellectual capital, several researchers emphasise the limitation of such studies in non-developed countries. Furthermore, the majority of...

Tax policy is one of the most important policy in consideration of investment development in certain industry. Research by Newlon (1987), Swenson (1994) and Hines (1996) concluded that tax rate is one of the most important thing considered by investors in a foreign direct investment. One of tax...

Efficient market stated that stock’s return is indifferent in each trading day. But, the day of the week effects phenomenon made a different return in each single day in a week. This is an abnormal return which can affect investor in deciding investment strategy, portfolio selection, and...