Public Firm's Background On The Performancegovernance Relation: Evidence From Indonesia  

Oleh:

Yulianti, Sri Handaru ; Junarsin, Eddy ; Setiawan, Kusdhianto

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Journal of Indonesian Economy & Business (Jurnal Ekonomi & Bisnis Indonesia) vol. 28 no. 3 (Sep. 2013), page 377-390.
Topik: SOE firms; private firms; corporate governance; firm performance; firm background
Fulltext: JIEB_28_03_377.pdf (203.83KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: II77 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study purports to test two governance issues in Indonesian listed firms. To explore corporate governance mechanisms in Indonesia, we ought to understand that listed firms on the Indonesian capital market came from two initial business backgrounds: (1) private firms, which had been private businesses before going public; and (2) Badan Usaha Milik Negara (stateowned enterprises), which were owned by the Indonesian government and managed by government-appointed management. Although both types of the firms have gone public, their differences might remain intact, such as differences in size, lines of business, market share, and the efficiency of corporate governance. Using 442 raw sample from all firms listed on the Indonesian Stock Exchange during 2003-2012, we find that governance characteristics and performance relation does differ between previously SOE firms and previously private firms. However, we do not find evidence of distinct financial performance between previously SOE firms and previously private firms. 1 Corresponding author. We are grateful for the research grant provided by the Faculty of Economics and Business, Universitas Gadjah Mada.

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