the company's value

debt then the debt yield advantage can increase the value of the company, Hidayat(2013), Profitability is the company's ability to earn income in a particular period. Fund investment decisions is a good allocation decisions come from within the company and outside the company, be it short-term investments and long-term Ning et al(2012), Research Dhani et al(2017), Concluded that the growth of the company and its capital structure does not affect the value of the company, while the effect on the profitability of the company's value. Sofia et al(2017), Indicates that the dividend policy and debt policy has no effect on the value of the company, while the investment decisions affecting the value of the

33 From the above statement can be concluded that the decline in the condition of the company after the crisis is sometimes not immediately followed by a decrease in stock value. In fact, the nominal value of shares requires a certain time lag to changes according to the condition of the company after the decrease or increase in operational performance. This does not include the risk that comes from the presence of a particular issue or cause the movement of the stock price becomes abnormal. With such conditions, researchers not use Tobin's q as a measure of company performance, but researcher use profitability ratios for measured the company performance. Profitability ratios indicate the ability of the company assets to generate operating profits. Profitability ratios focus on measuring the performance of the company's current and profitability ratios are not tied to stock (Ferdiana, 2012).

Based on the minutes of the extraordinary general meeting of the Company’s shareholders (EGMS) held on October 2, 1989, which were covered by notarial deed No. 4 of Amrul Partomuan Pohan, S.H., LLM., the shareholders approved, among others, the offering of 598,881,000 shares to the public. Based on the minutes of the EGMS held on March 18, 1991, which were covered by notarial deed No. 53 of the same notary, the shareholders approved the issuance of convertible bonds with a total nominal value of US$75 million. On June 20, 1991, in accordance with th e above- mentioned shareholders’ approval, the Company issued and listed US$75 million worth of 6.75% Euro Convertible Bonds (the “Euro Bonds”) on the Luxembourg Stock Exchange at 100% issue price, with an original maturity in 2001. The Euro Bonds were convertible into common shares starting August 1, 1991 up to May 20, 2001 at the option of the bondholders at the initial conversion price of Rp14,450 per share, with a fixed rate of exchange upon conversion of US$1 to Rp1,946.

The Company has entered into a Cross Currency Interest Rate Swap (CCIRS) transaction with Standard Chartered Bank, Jakarta Branch (SCB) to hedge its US$150 million debt to HC Finance B.V. Under the CCIRS, the Company will purchase U.S. dollars with a notional amount of US$150 million from SCB on March 8, 2009 (maturity date) for a fixed exchange rate of Rp9,358 to US$1. Also, SCB will pay the Company quarterly interest in U.S. dollars computed at the rate of 3 Months’ LIBOR + 1.80% per annum in exchange for the Company paying quarterly interest to the SCB in rupiah computed at the rate of 3 Months’ Sertifikat Bank Indonesia (SBI) + 1.99% per annum on the above-mentioned notional amount using the above exchange rate. The above interest payment period is the same with the interest payment period of the HC Finance B.V. loan. Based on an amendment to the CCIRS dated August 10, 2006, effective July 20, 2006, the quarterly interest to be paid by SCB to the Company will be at the rate of 3 Months’ LIBOR + 1.15% per annum, while the interest to be paid by the Company to SCB will be at the rate of 3 Months’ SBI + 1.33% per annum. As of December 31, 2006, the Company recognized the net liabilities on the CCIRS contract at fair value of Rp75,939,001,160, which is presented as “Long-term Derivative Liabilities” in the 2006 consolidated balance sheet. As of December 31, 2005, the Company recognized the net assets on the CCIRS contract at fair value of Rp84,171,508,110, which is presented as “Long-term Derivative Assets” in the 2005 consolidated balance sheet.

As described in Note 11, the Company has entered into a hedging transaction to hedge its US$150 million debt to HC Finance B.V. by using the Cross Currency Interest Rate Swap (CCIRS) instrument with Standard Chartered Bank, Jakarta Branch (SCB), with the same period with the HC Finance B.V. loan, which is 4 years. Under the CCIRS, the Company will purchase U.S. dollars with a notional amount of US$150 million from SCB at the maturity date on March 8, 2009 with a fixed exchange rate of Rp9,358 to US$1. Also, SCB will pay the Company quarterly interest at the rate of 3 Months’ LIBOR + 1.80% per annum. At the same time, the Company will pay interest to the SCB at the rate of 3 Months’ Sertifikat Bank Indonesia (SBI) + 1.99% per annum on the above-mentioned notional amount using the above exchange rate. The above interest payment period is the same with the interest payment period of the HC Finance B.V. loan. As of December 31, 2005, the Company recognized the net assets on the CCIRS contract at market value of Rp84,171,508,110, which is presented as “Long-term Derivative Assets - Net” in the 2005 consolidated balance sheet.

On March 8, 2005, the Company also entered into a hedging transaction using the Cross Currency Interest Rate Swap (CCIRS) instrument with Standard Chartered Bank, Jakarta Branch (Standard Chartered) for the same period with the HC Finance B.V. loan (see Note 11), which is 4 years. Under the CCIRS, the Company will purchase U.S. dollars with a notional amount of US$150 million from Standard Chartered at the maturity date on March 8, 2009 with a fixed exchange rate of Rp9,358 to US$1. Also, Standard Chartered will pay the Company quarterly interest at the rate of 3 Months’ LIBOR + 1.80% per annum. At the same time, the Company will pay interest to the Standard Chartered at the rate of 3 Months’ Sertifikat Bank Indonesia (SBI) + 1.99% per annum on the above-mentioned notional amount using the above exchange rate. As of June 30, 2005, the Company recognized the net receivables on the CCIRS contract at market value of Rp14,209,545,933, which is presented as part of “Other Receivables from Third Parties” in the 2005 consolidated balance sheet.

Principally, the sustainable and capability of the company based on IC, so the company’s resources can create value added. Edvinson and Malone (1997) in Ulum (2008) state the function of IC is a tool to determine company value and it is also supported by Abidin (2000) that market value occur since the entry of IC concept becomes the main factor to develop company value. Optimizing the company value is the goal of companies which can be seen by the company share price and the difference between share price with book value of asset that show the company hidden value. The bigger of intellectual capital (VAIC TM ), the more efficient of company capital utilization, so that will give value added contribution for the company. Further, the intellectual capital may also increase the competitive advantages and contribute to the company performance, so that the intellectual capital has impact to the company value and the financial performance improvement (Abdolmohammadi, 2005).

We found there are a mismatch results in several studies described before, some studies state that institutional ownership has a positive relationship to the value of the company, while others stated that institutional ownership has a negative effect on the value of the company and there are also found that institutional ownership has no significant effect on the value of the company. So that further research is necessary to provide empirical evidence about the effect of institutional ownership on company’s value. The title of this research is, “ The Effect of Institutional Ownership On Value of The Company Study Of Manufacturing Company Listed in Indonesia Stock Exchange Year 2010-2014 ”.

Deferred compensation is pay that was earned on current performance but is paid later to the employee. The compensation may include profit sharing plans, pensions, and stock-based plans like ESOPs. The payment by the employer can be deducted currently for tax purposes but the employee doesn't recognize it as income until it is received. In stock option plans, earnings in the plan are not taxable to the employee until the plan is distributed. Size of the plans are affected by the firm's stock value and encourage employees to take a more positive attitude about the company's future.

Abstract: This research aims to know the influence of good corporate governance the manufacturing sub sectors of food and drink that are listed on the Indonesia stock exchange period 2011-2016. For the measurement of the value of the company's researchers use the Price Earning Ratio (PER), while for corporate governance using the size of the Board of Directors, managerial ownership, firm size and Debt to equity Ratio (DER). The sample in this research company is a company manufacturing sub sector of the food and drink report financial report-row take part during the period 2011 – 2016. the results of this research show that the number of Directors, managerial and ownership of company size does not affect the value of the manufacturing companies listed on the Indonesia stock exchange period 2011- 2016. Debt equity ratio effects while significantly to the value of the company.

TPT of West Java which is exported includes five groups; namely fiber, yarn, textile, apparel, and others. When considering the export value of each group, the textile and clothing become very dominant. The export value of fiber, yarn and textile tends to decline. While the value of apparel exports to tend to increase. TPT of West Java which is exported includes five groups; namely fiber, yarn, textile, apparel, and others. When considering the export value of each group, the textile and clothing become very dominant. The export value of fiber, yarn and textile tends to decline. While the value of apparel exports to tend to increase. Sales of textiles in West Java began to decline. This is reasonable because the sales results are an important component of the company’s performance. If this happens then the company will have difficulty in maintaining and developing internal resources and excellence (uniqueness of resources), this is faced by textile products of West Java. Their resources are relatively less unique and less utilize the uniqueness of the regions in West Java, so compared to the textiles of India and China that have its own characteristics. Similarly, the results of preliminary research (2005) resulted in a significant influence over the uniqueness of resources on sale, so that companies that can not maintain and develop internal resources and superiority threatened bankruptcy. the existence of a TPT company is highly dependent on a number of existing strengths in the market in which the TPT company operates, in particular the power to always have the uniqueness of resources, product superiority, and good customer relations. The viability of a company depends on its own resources and what strategy is chosen in empowering these unique internal resources to respond to external threats and opportunities (Grönroos & Voima, 2013). Assert that if a company can match its internal resources with its external environmental opportunities, or use them to reduce or eliminate the impact on threats, then the company has achieved strategic feasibility (Sok & O’Cass, 2011). This is very relevant to the effort to maintain and increase the sales (sales) and profit (profit). But at this time after experiencing the 1997 economic crisis as described above, in general Textile companies in West Java experienced a significant decline, even many who closed the business. This is supposedly the low value of the offered product because it can not afford to shift the value and value creation, as the result of preliminary research (2005) that besides the uniqueness of resources, also the shift of value and value creation affects the sales.

Elucidation: Pursuant the provision of the Company’s articles of associations, the management of the Company which are the Board of Director and/or the Board of Commissioner are appointed and/or dismissed through GMS. Therefore, the Company proposes this agenda. b. Approval for granting a Corporate Guarantee by the Company which value is more than 50%

Bank of Indonesia stated that Indonesia becomes the second favorite country for investment after China. In addition, The Indonesia Stock Exchange(or Bursa Efek Indonesia (BEI)) as the stock exchange which becomes the benchmark of Indonesia's capital market has 525 issuers in February 2016 and has increased to 539 issuers in January 2017. The number of foreign-listed companies registered in 2013 is 94 companies and has increased to 103 companies by 2015. This illustrates that the field of investment in Indonesia has been in the spotlight from within the country and abroad, and already many national companies that can be a place to invest the investors. In addition, shareholders require information to determine the value of securities for decision making on purchase of stock. The main role of accounting is to provide information required by users such as evaluation of firms (Hashemi dan Akhlaghi, 2011). The Indonesian Assessment Standards (Standar Penilaian Indonesia or SPI) states that the valuation is the work process to provide an estimate and income on the economic value of an assessment object at certain times in accordance with the SPI and applicable regulations, while the assessor is a person who has the qualifications, skills and experience in conducting the valuation practice to obtain an economic value in accordance with the area of expertise held (SPI-KEPI 3.7.1 and 3.7.2).

In addition, Sudiyatno and Sari (2012) point out that the firm performance as a barometer of the success of the company will be seen as a benchmark for investors to invest their funds. High the firm performance will push the company's stock market price increases, as investors will respond positively as a signal to invest funds. As a representation of the firm value, the rising stock market prices show the firm value is also increasing. Therefore, the firm value are the factors that will determine the firm value through stock price increases.

Note payable ...... .............................................................................................. 50,000 Common stock, P8 par value ............................................................................. 80,000 Additional paid in capital (P6.66 per share) ...................................................... 66,667 Gain on debt discharge ...................................................................................... 3,333 To record settlement of note payable due in 2007

Note payable .... ..................................................................................... 50,000 Common stock, P8 par value ................................................................. 80,000 Additional paid in capital (P6.66 per share) .......................................... 66,667 Gain on debt discharge .......................................................................... 3,333 To record settlement of note payable due in 2007

Server-side applications typically make requests to other web services or databases, and these requests are usually asynchronous; the application does not stop to wait for the result to return. These requests may succeed or fail, and often the result contains the input to the next asynchronous request. For example, consider an application that can find the temperature at the user’s home. The application makes a request to a database to discover where the user lives, then makes a subsequent request to a weather service to get the temperature in that location. But if the database is missing an entry for a user, the subsequent request to the weather service must be skipped. In addition to sequencing the chain of asynchronous operations, an application must vary the sequence to cope with errors. The required logic can be a challenge to program.

Note payable ...... .............................................................................................. 5,000 Common stock, P8 par value ............................................................................. 8,000 Additional paid in capital (P6.66 per share) ...................................................... 6,666 Gain on debt discharge ...................................................................................... 60,334 To record settlement of accounts payable.

I declare that this thesis entitled “Implementation of Value Stream Mapping (VSM) in The Textile Manufacturing Company” is the result of my own research except as cited in the reference. This thesis has not been accepted for any degree and is not concurrently submitted in candidate of any other degree.

I was very impressed with the services provided by the F-Pico Kanto Recycling Factory, this can provide motivation and performance improvement and personal service in my organization. From this very short visit I can reap the conclusion, that the importance of waste management and recycling can increase revenue for the community.