Judul: Analisis struktur Modal yang Optimum pada Perusahaan Telekomunikasi yang Terdaftar di BEI
Abstrak: Capital structure is an equalization between the use of own capital and the loan. Weighted average cost of capital (WACC) concept is used on the condition when the company apply combination of several sources of fund. From this research it is known that the telecommunication industry has capital structure which is dominated by Common Stocks with an average proportion of 54.21%, bonds about 38,90% and the rest is preferred stock 9,81%. From the WACC calculation, it can be seen that the telecommunication industry has the WACC about 12,41%. while, based on the calculation of firm value, the company in sector of telecommunication industry has average firm value which is higher than the book value. By the WACC and firm value calculation, PT. Indosat Tbk. has capital structure that’s optimum, and PT. XL Axiata Tbk. does not quiet optimum. It is expected that PT. XL Axiata Tbk. can minimalized the cost of capital to increasing the firm value. Meanwhile, the WACC concept does not apply to PT. Telekomunikasi Indonesia Tbk.
Keyword: optimal capital structure, cost of capital, firm value, capital Structure

Judul: Penentuan Struktur Modal yang Optimum Pada Perusahaan Makanan dan Minuman yang Terdaftar di BEI
Abstrak: Increasing competition in the business in line with the economic development requires the company to undertake the development or expansion of the company. A company must have an optimal capital structure in order to survive in the industry. The combination of this capital structure will affect the cost of capital to be issued by the company. If the optimal capital structure is said to have a low capital cost. This study was conducted to analyze the determination of an optimal capital structure in companies in the food and beverage industry. The data used are secondary data obtained from the financial statements of PT Mayora Indah Tbk, PT Tiga Pilar Sejahtera Tbk, PT Indofood Sukses Makmur Tbk, and PT Indofood CBP Sukses Makmur Tbk are processed using the method of calculating the cost of capital (COC) and Weight Average Cost of Capital (WACC). The results showed that PT Tiga Pilar Sejahtera Tbk and PT Indofood Sukses Makmur Tbk already have an optimal capital structure.
Keyword: company value, food and beverage company, cost of capita, capital structure

Judul: Macroalgae development as feeding stimulants for the adult sea urchin (Tripneustes gratilla Linnaeus 1758)
Abstrak: Development of artificial feed for somatic growth and gonad quality is one of the focus of research on sea urchin aquaculture activities. Palatability is important factor when developing artificial feed for aquaculture diets. This study investigated the effects of macroalgae (Sargassum polycystum, Gracilaria lichenoides, and Ulva reticulata) as feeding stimulants to artificial diets consumption and gonad profile for the adult sea urchin Tripneustes gratilla, by three feeding trials. Previously starved T. gratilla were held in replicated (3X) 50 L aquaria with recirculation water system (in the first feeding trial) and flow through water system (in the second and third feeding trial). In the first feeding trial, preference of T. gratilla for dried macroalgae was assessed in choice feeding experiment. T. gratilla displayed significant preference for the agar containing dried U. reticulata at 20% agar weight over nine other diets treatment when they were offered simultaneously. Total protein, energy and the ratio of protein to energy in the dried macroalgae had no correlation on agar consumption by T. gratilla. Three artificial diets were made by incorporating one of each of these dried macroalgae at 5% feed weight used in the second feeding trial. Although no significant difference in artificial diets containing dried macroalgae, urchins fed diets containing dried macroalgae consumed more than basal diet when they were offered as single diet. These results indicate that dried macroalgae added to the artificial diets act as feeding stimulants and increasing the acceptability of artificial sea urchin diets. The third feeding trial used dried U. reticulata as feeding stimulant to artificial diet. Data suggest that artificial diet containing 10% dried U. reticulata boosting feed consumption and significantly increasing nutrient accumulation, gonad index, egg diameter and fix gonad color.
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