ayu, kurnia purnama and Gamayuni, Rindu Rika and Agustina, Yenni (2018) Privatization of Bumn: The Effect of Ownership Structure on Performance and Firm Value. The Fifth International Conference on Governance and Accountability (ICGA) 2018. p. 95. ISSN 978-967-0760-05-6

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Abstract

This study aims to examine the effect of privatization of SOEs on the performance and value of the company. Privatization is the sale of state-owned company shares which causes the ownership structure of SOEs to no longer be concentrated as government property, but some of its shares turn into public property. The independent variables used in this study are government ownership, managerial ownership, foreign ownership and institutional ownership. While the dependent variable being tested is performance and firm value. This research also uses leverage as a control variable. Population in this research is BUMN that listed in The Indonesian Stock Exchange period 2015-2017. Based on the result of purposive sampling, the sample used was 42 samples from 14 selected SOE companies. Research data was analyzed using multiple regression analysis. The results show that government ownership and managerial ownership have no effect on company performance. While foreign ownership and institutional ownership have a positive and significant impact on company performance and value. The leverage control variable significantly affects the negative relationship to the relationship between government ownership, managerial ownership, foreign ownership and institutional ownership of company performance and value. This study proves that the privatization policy undertaken by the government of Indonesia to improve the performance and value of the company is the right step. In addition, SOEs also need to consider the level of leverage owned by SOEs because it will affect the level of performance and value of the company..

Item Type: Article
Subjects: H Social Sciences > HJ Public Finance
Divisions: Fakultas Ekonomi dan Bisnis (FEB) > Prodi Akuntansi
Depositing User: rindu rika
Date Deposited: 24 Mar 2020 02:32
Last Modified: 24 Mar 2020 02:32
URI: http://repository.lppm.unila.ac.id/id/eprint/18815

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