Download or read book Privatisation Policy in Indonesia written by Dedi Purwana and published by . This book was released on 1999 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analysed privatisation policy in Indonesia. The dissertation addressed a number of privatisation issues related to the Indonesian experience. These issues were (a) the performance of public enterprises (PEs); (b) the main feature of public sector reform; (c) the rationales for privatisation; (d) the main feature of privatisation policy; and (e) the impact of privatisation on the performance of privatised firms. In discussing the above issues, this study used a qualitative descriptive method and was based mainly on secondary data. This study also examined three privatised firms and analysed their two-year financial and operating performance before and after privatisation. The financial and operating performance measurements were profitability, efficiency, capital expenditure, productivity, employment, leverage and dividend payment. The study found that the Indonesian government started its privatisation policy in 1988 to accompany deregulation and public sector reform. The policy was mostly driven by inefficient and uncompetitive PEs, redistribution of wealth and income, the government financial burden in regard to inefficient PEs, and structural adjustment policy proposed by the international institutions such as the IMF, the World Bank and the ADB. Privatisation policy was designed to initiate a process of transfer ownership and to establish an environment of public private partnership. Divestiture and non-divestiture were two privatisation modalities exercised by the government. In the former model, the government issued PE shares in the capital market or direct placement by strategic investors. Meanwhile, in the latter model, the government relaxed PEs to do partnership with private sector in form of financial arrangements such as Built Operate Transfer (BOT), contract management, and joint operation scheme. The study also concluded that privatisation program in Indonesia had encountered ownership problem, lack of transparency, stakeholder resistance, inappropriate pricing formulation and inflexible mechanism. Despite all these problems, privatisation has significantly improved the financial and operating performance of the three privatised firms in regard to their profitability, efficiency, productivity, investment, employment, leverage and dividend payment. The findings cannot be generalised as they are related to the particular sector examined in this study. Therefore, the study has recommended further research in the field by involving a large sample size, various privatisation techniques and different time setting.
Download or read book Indonesia Privatization Programs and Regulations Handbook Volume 1 Strategic Information and Regulations written by IBP, Inc. and published by Lulu.com. This book was released on 2016-05-05 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2011 Updated Reprint. Updated Annually. Indonesia Privatization Programs and Regulations Handbook
Download or read book Indonesia Privatization Programs and Regulations Handbook Volume 1 Strategic Information and Regulations written by IBP USA and published by Lulu.com. This book was released on 2009-03-20 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2011 Updated Reprint. Updated Annually. Indonesia Privatization Programs and Regulations Handbook
Download or read book Economic Reform Deregulation and Privatization written by Mari Pangestu and published by . This book was released on 1996 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises six papers analysing policy reform in Indonesia from 1982 to 1996 and evaluates the factors which led to these reforms.
Download or read book Privatization of State Controlled Enterprises in Indonesia 1983 1993 written by Choirul Djamhari and published by National Library of Canada = Bibliothèque nationale du Canada. This book was released on 1996 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Privatization in Indonesia written by Benyamen N. Supit and published by . This book was released on 1996-06-01 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a study of privatization in Indonesia. Privatization is defined as the transfer of ownership control or functions from the public to a private sector. After an overview of the terminology used in describing privatization and the current theory of privatization, this thesis examined four performance factors of Indonesia's economy: crises and reform, sustaining development, the growth challenge, and public sector. The study analyzes the public enterprise's role in economic development. Further, it examines privatization purpose and the privatization process with respect to evaluation and selection of public enterprises. The study further indicates the priority for privatizing public enterprises. Finally, the author suggests considerations and requirements for management in a privatization program.
Download or read book Are State owned Enterprises Successful Vehicles for Attaining Their Government Objectives written by Andriati Fitriningrum and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to examine whether Indonesian Badan Usaha Milik Negara (BUMN) or State-Owned Enterprises (SOE) are successful vehicles for attaining government socio-economic and financial objectives. The motives for undertaking this study arise from the importance of SOEs in national economic and socio-political roles in developing countries like Indonesia, even after their privatisation. This thesis identifies the implications of policy changes for the Indonesian government's objectives for SOEs. First, an historical examination of changes in the institutional and economic environment in Indonesia (Chapters 6-8) identifies substantial impacts on the evolution of the structure of SOEs and the government's objectives for SOEs. The first stage of this analysis reveals that the "see-sawing" of economic policy between centralisation and market orientation led to changes in the structure and objectives of the SOEs. Initially, the state enterprises established during the Indonesianisation period (1945-1958) had multiple socio-political objectives with little concern for economic of financial objectives. The reforms during the nationalisation period (1958-1966) included the restructuring of previously nationalised companies as Perusahaan Negara, and the introduction of profit objectives for some Perusahaan Negara. In the corporatisation period (1966 - present), the Perusahaan Negara were reformed and divided into three types of entities: Persero, Perum and Perjan. The Persero are incorporated entities that have both commercial and social welfare objectives. The Perum are incorporated entities that are not commercial but have profit objectives and social welfare objectives. The Perjan are not incorporated (remaining as state agencies) and have only social welfare objectives. Perusahaan Negara poor performance and fiscal problem in the early 1980s encouraged the reform of Perusahaan Negara structure as Badan Usaha Milik Negara (BUMN/SOE). The introduction of partial-privatisation policy in 1991 encouraged profit and efficiency objectives for SOEs that could potentially be privatised. The implementation of fast track privatisation in 2002 caused significant changes in the SOEs structure and objectives. The government encouraged all SOEs to implement corporatisation principles in which emphasise financial objectives such as profit and efficiency. The government eliminated the Perjan structure, which it considered to have become a barrier to the implementation of full corporatisation and fast track privatisation. In practice, social welfare and non-economic remained a major Badan Usaha Milik Negara (BUMN/SOE) objectives. From the late 1990s, external pressure from international financial institutions was a significant factor in the government's efforts to privatise the SOEs. In the second part of the historical analysis in this thesis, privatisation is shown to be a major influence on policies and SOEs' objectives. Privatisation represents a fundamental change in the government-stated objectives and policies for SOEs, and included the introduction of an 'open market' policy, development of domestic capital market activities, and full implementation of corporatisation principles. However, privatisation in Indonesia is constrained by the 1945 Constitution of Indonesia regarding the control policy, which leads to different categories of SOEs with respect to privatisation and the importance of economic or financial objectives. There are now three categories of SOEs: those that have been identified as not available for privatisation, those that can be privatised but are still fully owned by the government, and those that have been privatised. As a consequence of the constitutional barrier and political interests, most privatisations of SOEs were partial. The continuation of government control over these partially privatised SOEs increased the potential for conflict between the greater emphasis on financial objectives arising from private investors and the government's continuing socio-political objectives for these SOEs. This is emphasised in analysis of the most intensive period of privatisation (2002-2004). An examination of SOEs objectives in practices shows that privatisation policy makes some differences in regards to the government objectives and treatment for the SOEs. In addition to three different categories of SOEs, privatisation policy encourages the importance of profit and efficiency objectives which apply to all SOEs. In contrast, the content analysis (Chapters 8-9) reveals that the government inconsistency in implementing the new profit and efficiency policies and caused the absence of profit and efficiency objectives as part of the government objectives for numbers of SOE. The potential conflicting objectives arises between the government and SOEs when the SOEs have to deal with the pressure and changes from their markets. Building on the conceptually conflicting objectives identified in the historical analysis, the thesis then empirically assesses the extent of apparent conflicts within government objectives, and between the government's and SOEs objectives, and the implication on the performance of SOEs with respect to government objectives. First, the extent of apparent conflicts emerges as the government introduces profit and efficiency objectives, while in practice; the government has never made any changes in the government-stated objectives for each individual SOE. Second, the company constitution and management objectives are more likely to make changes of the objectives in order to accommodate the changes in their market. Next, identifies the objectives for which objective (proxy) performance measures are available: these are financial performance and financial performance that represent the social welfare. Using these measures, the different types of performance of SOE's are regressed against indicators of government-stated objectives for SOEs, whether the objectives make a different or affect the SOEs performance. Examination of the relations between the government-stated objectives and SOEs financial performance shows some weak negative relations between the government-stated objectives and SOEs financial performance. The reliance of many Indonesian SOEs on non-core business income (such as subsidies and asset disposals) and external financial support (such as soft loans from government-controlled lenders) indicates the inconsistency between the SOEs financial objectives and achieving the government's social welfare and non-economic objectives.
Download or read book Privatisation Policy and Performance written by Paul Cook and published by Prentice Hall. This book was released on 1995 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection analyzes the success of market liberalisation and privatization policies in the developed world and in transitional and developing countries' economies. The book analyzes the privatization issues that dominate the policy agenda in the West, Eastern Europe, Latin America, South East Asia and Africa; offers an international comparison of privatization policies, experience and performance; and presents a non-technical, discursive approach overall. This work is intended for use on courses in Development Economics, East European Economics, Economics of Transition, Economic Policy, and Industrial Economics or Public Sector Economics where the emphasis is on privatization issues. No prerequisite required.
Download or read book Indonesia Inc written by Tanri Abeng and published by Cavendish Square Publishing. This book was released on 2001 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the authors account of the challenges facing this businessman in the bureaucracy as he tries to make economic sense of the vast, and money-losing State-Owned Enterprises (SOE's) in Indonesia. His mission: to reform and provatise the SOEs in order to take pressure off the national buedget, attract investment, improve management skills, and change a vureaucratic culture for a commercial one focused on competition. The book covers an 18 month period, from March 1997 to the end of 1998, a period when Indonesia's economy was in crisis and the country's edconomic policies were being overhauled. The author recounts his experiences and lessons learnt which provides a model and method for others in simolar situations.
Download or read book Governance and Privatisation in Indonesia written by Ahmad Dermawan Habir and published by . This book was released on 2002 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Privatisation Law written by Aikaterini Argyrou and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last twenty years Indonesia and Greece have been seeking to profitably privatise the majority of their state-owned enterprises (SOEs) and assets. This obligation is either imposed by international institutions such as the International Monetary Fund (IMF) and the World Bank in order to repay their international external debts or by fiscal arrangements which require the elimination of their public financial deficits and the maintenance of their governmental spending. Both countries are struggling to develop, organise and institutionalise an efficient privatisation framework, to attract private investment and generate stable cash flows. In exploring the historical background of their economic development and contemplating on the recent financial Greek crisis by making a comparison with the past Indonesian financial crisis (1997-1998), their route in this privatisation path seems mutual.In the introduction to the article, the authors will briefly demonstrate the historical and economic reasons which led both countries to aspire towards privatisation. The development of the Indonesian and Greek privatisation schemes and policies will be thoroughly examined. A comparative analysis will reveal to what extent the privatisation processes in both countries have caused negative impacts. A detailed description of the existing legal regimes will provide a clear view of the present legal frameworks applicable to privatisation in these countries. The chapter will conclude with a normative analysis which generates useful observations and recommendations on how a Corporate Social Responsibility (CSR) framework could be introduced into the current privatisation schemes to alleviate the negative impacts of the privatisation process.Implementing this CSR framework would embrace the principles of social justice, general interest and sustainable development as described in the Indonesian 1945 Constitution and the Greek Constitution of 1975. Particularly, the authors will examine how a CSR new policy could be implemented in the new privatisation vehicle currently established by the Greek government, under the name Hellenic Republic Asset Development Fund (HRADF). Furthermore, the authors will explore how some particular aspects of CSR could be introduced in a new Indonesian ministerial regulation about the privatisation of SOEs.
Download or read book Design and Implementation of Privatisation in Indonesia written by Irnanda Laksanawan and published by . This book was released on 2008 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of the Private Sector in Indonesia written by Mari Pangestu and published by . This book was released on 1991 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Privatisation Failures in Indonesia written by Ross H. McLeod and published by . This book was released on 2002 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reclaiming Public Water written by Belén Balanyá and published by . This book was released on 2005 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance A Policy Maker s Guide to Privatisation written by OECD and published by OECD Publishing. This book was released on 2019-03-21 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policy makers and privatisation experts agree that it is critical to “get privatisation right.” A well-planned and executed transaction, backed by sound rationales, institutional and regulatory arrangements, good governance, and integrity can have consequences on future divestment activity by enhancing investor confidence while gaining the support of stakeholders and the public.
Download or read book Privatization written by John R. Nellis and published by World Bank Publications. This book was released on 1992-01-01 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governance, as defined by the World Bank in its 1992 report, Governance and Development, is the manner in which power is exercised in the management of a country's economic and social resources for development. The report deemed it is within the Bank's mandate to focus on the following: -the process by which authority is exercised in the management of a country's economic and social resources -the capacity of governments to design, formulate, and implement policies and discharge functions. Also available: Governance: The World Bank's Experience (ISBN 0-8213-2804-2) Stock No. 12804.
