: State-Owned Enterprises (SOEs) is one of the actors of economic activity in the national economy that is based on economic democracy (Republic Act NO.19, about SOE, 2003). Therefore management is based on economic democracy, then in running economy activities need to follow the market mechanism and oriented to profit. The emergence of legislation SOE No. 19 of 2003 that, because of the role of SOEs in the public welfare is not optimal, management and supervision needs to be done professionally and management of state-owned enterprises need to adjust to the economic development and the business is rapidly increasing, both nationally and Internationally. Development of business in an increasingly open economy situation needs to be grounded with the means and skills recognition system that can drive the company towards increased efficiency and competitiveness. Government efforts to improve the performance of state-owned companies, among others, the implementation of corporate governance practices and to maximize the implementation of financial management functions that include corporate funding decisions and dividend policy. Motivated researchers conducted this study to examine the influence of corporate governance, funding decisions, and dividend policy on profitability performance and the implications for stock prices. (Empirical studies, especially state-owned enterprises listed on the Stock Exchange in 2008-2011).