Detail Foreign Ownership and Corporate Governance Practices in Indonesia (presented in Global Public Policy an Multi-Jurisdiction Governance, Dauphine, 21-22 September 2006) Bibliografi Author: Chevalier, Alain ; Prasetyantoko, A. Ico Tri ; Rokhim, Rofikoh Topik: capital structure; corporate governance; foreign ownership Bahasa: (EN )     Penerbit: Universite Paris IX     Tempat Terbit: Dauphine    Tahun Terbit: 2006     Jenis: Papers/Makalah - pada seminar internasional Fulltext: text - Paper 7 - Dauphine.pdf (198.26KB; 4 download) Abstract The main question of this paper is whether foreign ownership participation makes corporate governance practices better in developing countries, especially in the case of Indonesia. We focus on the capital structure choice of the firms to examining the governance practices. In this paper, it is shown that firms with foreign ownership participation are essentially more prudent in their financing policies than local firms. This finding can shed light on the role of foreign enterprises in developing countries, which is commonly supposed as an important actor in installing sound institution in the business and economic environment. In Indonesia, where most companies commonly prefer to shortterm debt by neglecting prudent financing policies, MNCs tend to be more professionally managed in their financing policies. It is likely common in developing countries where MNCs perform better than local ones. This is consistent with many arguments supposing that MNC is an agent of transformation in diffusing specific asset, knowledge and culture, including governance practices, in developing countries. Even though, local or domestic institutional context should be considered as an important factor inducing directly the firm behaviour. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

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