OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE
This study is aimed to test the difference in performance among companies with various types of ownership (foreign, state, and private) on a sample of 206 companies listed in ISE (Indonesian Stock Exchange) between 1999-2006 resulting in 795 companyyear observations. The ANCOVA model and multiple co...
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| Format: | Article |
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[Yogyakarta] : Universitas Gadjah Mada
2010
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| _version_ | 1826033112682856448 |
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| author | Perpustakaan UGM, i-lib |
| author_facet | Perpustakaan UGM, i-lib |
| author_sort | Perpustakaan UGM, i-lib |
| collection | UGM |
| description | This study is aimed to test the difference in performance among companies with
various types of ownership (foreign, state, and private) on a sample of 206 companies
listed in ISE (Indonesian Stock Exchange) between 1999-2006 resulting in 795 companyyear
observations. The ANCOVA model and multiple comparison methods are used to test
the hypothesis that private-owned companies have better performance than state-owned
enterprises and foreign-owned companies have better performance than private-owned
companies. Contrary with the hypothesis, the result shows that state-owned enterprises
have better performance than priva1e-owned companies. The possible explanationfor this
is because state-owned enterprises have more experience than private-owned companies
(based on LogAge). State-owned firms may get some special facilities (including the
easiness to get debt funding) from government. The result also shows that foreign-owned
companies have better performance than private-owned companies which support the
hypothesis. Foreign-owned companies have more experience in managing enterprises than
private-owned companies. Furthermore,foreign-owned companies in some industries tend
to be more active in doing investment than private-owned companies. There are some
implications of these results. First, different ownership type gives different effect to the
company's performance. Sec.ond, government can consider foreign ownership in its
privatizationpolicy. .
Keywords: Ownership type, Performance, Experience, Investment. |
| first_indexed | 2024-03-05T23:11:37Z |
| format | Article |
| id | oai:generic.eprints.org:27853 |
| institution | Universiti Gadjah Mada |
| last_indexed | 2024-03-05T23:11:37Z |
| publishDate | 2010 |
| publisher | [Yogyakarta] : Universitas Gadjah Mada |
| record_format | dspace |
| spelling | oai:generic.eprints.org:278532014-06-18T00:24:02Z https://repository.ugm.ac.id/27853/ OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE Perpustakaan UGM, i-lib Jurnal i-lib UGM This study is aimed to test the difference in performance among companies with various types of ownership (foreign, state, and private) on a sample of 206 companies listed in ISE (Indonesian Stock Exchange) between 1999-2006 resulting in 795 companyyear observations. The ANCOVA model and multiple comparison methods are used to test the hypothesis that private-owned companies have better performance than state-owned enterprises and foreign-owned companies have better performance than private-owned companies. Contrary with the hypothesis, the result shows that state-owned enterprises have better performance than priva1e-owned companies. The possible explanationfor this is because state-owned enterprises have more experience than private-owned companies (based on LogAge). State-owned firms may get some special facilities (including the easiness to get debt funding) from government. The result also shows that foreign-owned companies have better performance than private-owned companies which support the hypothesis. Foreign-owned companies have more experience in managing enterprises than private-owned companies. Furthermore,foreign-owned companies in some industries tend to be more active in doing investment than private-owned companies. There are some implications of these results. First, different ownership type gives different effect to the company's performance. Sec.ond, government can consider foreign ownership in its privatizationpolicy. . Keywords: Ownership type, Performance, Experience, Investment. [Yogyakarta] : Universitas Gadjah Mada 2010 Article NonPeerReviewed Perpustakaan UGM, i-lib (2010) OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE. Jurnal i-lib UGM. http://i-lib.ugm.ac.id/jurnal/download.php?dataId=10916 |
| spellingShingle | Jurnal i-lib UGM Perpustakaan UGM, i-lib OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE |
| title | OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE |
| title_full | OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE |
| title_fullStr | OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE |
| title_full_unstemmed | OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE |
| title_short | OWNERSHIP TYPE AND COMPANY PERFOR11ANCE: EMPIRICAL STUDIES IN THE INDONESIAN STOCK EXCHANGE |
| title_sort | ownership type and company perfor11ance empirical studies in the indonesian stock exchange |
| topic | Jurnal i-lib UGM |
| work_keys_str_mv | AT perpustakaanugmilib ownershiptypeandcompanyperfor11anceempiricalstudiesintheindonesianstockexchange |