PERWIRA - Jurnal Pendidikan Kewirausahaan Indonesia
Vol 2 No 2 (2019): PERWIRA - Jurnal Pendidikan Kewirausahaan Indonesia

Identifying Ultimate Controlling Shareholders In Indonesian Public Companies: an Empirical Survey

Achmad Sobirin (Unknown)
MZ. Fahruddin (Unknown)
Andiana Rosid (Unknown)

Article Info

Publish Date
12 Dec 2019

Abstract

This paper aims to identify the ultimate ownership of public companies that are listed on the Indonesia Stock Exchange (IDX) during 2014-2017 period. Identification techniques used in this study are: (1) tracking the ownership structure; (2) measuring the level of control; (3) determining the majority ownership, and (4) finding the ‘controlling shareholder’ narrative in the annual report. Based on tim research analyze, this paper found that the ultimate ownership of public companies in Indonesia 2014-2017 was concentrated in the ultimate family owners (54.43%), corporations (31.05%) and the state (7.49%). Beside it, 89.43% of families use the indirect ownership structure (pyramid ownership). In addition, more than 50% of the ultimate family ownership place their family members in the Board of Commissioner (BOC) and Board of Directors (BOD).

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Journal Info
PERWIRA - Jurnal Pendidikan Kewirausahaan Indonesia
Website

Abbrev

perwira

Publisher

Universitas Prasetiya Mulya

Subject

Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education

Description

Ranah kajian PERWIRA adalah tema-tema terkini pendidikan dan tata kelola kewirausahaan. Visi penerbitan PERWIRA adalah menjadi acuan akademis tentang pendidikan dan tata kelola kewirausahaan. Misi PERWIRA meliputi: - Memberi sumbangan kajian kewirausahaan dan pengelolaan usaha. - Mengembangkan ...