Indonesia corporate governance after financial crisis

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Indonesia corporate governance after financial crisis

  1. 1. SEMINAR ISSUES AND CHALLENGES IN CORPORATE GOVERNANCEINDONESIACORPORATE GOVERNANCE AFTER ASIAN FINANCIAL CRISIS Presented by:R A J A A B U M A N S H U R M AT R I D I 810083 SHAHRIL BUDIMAN 810089 J U N R I A N A 810058 COLGIS MPM ROOM SUNDAY, 16 DECEMBER 2012
  2. 2. CONTENTS.Corporate governance pillar. Indonesia Corporate Governance Timeline.The causes of financial crisis In INDONESIA Indonesia CORPORATE GOVERNANCE AFTER ASIAN FINANCIAL.Asian corporate governance CRISIS association towards Indonesia CG Presented by: RAJA ABUMANSHUR MATRIDI 810083 SHAHRIL BUDIMAN 810089 JUNRIANA 810058
  3. 3. OFINTRODUCTION Understanding Corporate Governance
  4. 4. OF Independency Responsibility TransparencyKaen,Shaw, 2003 OECD
  5. 5. INDONESIA CORPORATE GOVERNANCE TIMELINE 1996, 199716 Bank 2004 Bank Indonesia had Closed, followed by Dagang Bali and 2005 Bank more than Bank Aspac were Global closed 38 banks in 1999 liquidation 200 Banks
  6. 6. INDONESIA CORPORATE GOVERNANCE Factors causing the crisis in Indonesia:First, concentration of ownership Second, ineffective oversight Third, lack of transparency in the implementation of corporate mergers and acquisitions Fourth, overly high dependency on external funding Fifth, inadequate supervision by the creditors Asian Development Bank (Daniri, 2006)
  7. 7. Three activities of Indonesia government in implementing CG: Establish a national policy• 2004: Sectoral code, audit commitee code, commissioner independent code• 2006: to create a check and balance situation, enforcement of transparency and accountability, and realization of social responsibility for the companys survival Enhance the regulatory framework• 1998, Indonesia Bank act• 1999, anti corruption act• 1999, competition act• 2003, SOEs act Build a private sector initiative Daniri (2006), Rifai (2009)
  8. 8. Assessment of developmentCorporate Governance In Indonesia
  9. 9. Assessment of developmentCorporate Governance In Indonesia
  10. 10. CommitmentTransparencyAccountabilityResponsibilityIndependenceFairnessCompetenceMissionLeadershipCollaboration
  11. 11. What is the results ofIndonesia’s Code of good corporate governance
  12. 12. Reference• Daniel. (2003). Corporate Governance in Indonesian Listed Companies – A Problem of LegalTransplant, 15 Bond Law Review.• Hanazaki, Masaharu., Liu, Qun. (2003, July). The Asian Crisis and Corporate Governance:Ownership Structure, Debt Financing, and Corporate Diversification. Center for Economic Institutions Working Paper Series Number 2003-18.• Kaihatu, Thomas S. (2006, March). Good Corporate Governance and their Application in Indonesia. Journal Management and Entrepreneurship, Volume 8, Number 1, pp. 1-9.• Kamal, Miko. (2011) Concept of Corporate Governance in Indonesia: Study of Corporate Governance Code. Journal Management Technology, Volume 10, Number 2.• Kurniawan, Dudi M., and Indriantoro, Nur. (2000). Corporate Governance in Indonesia. From The Second Asian Roundtable on Corporate Governance: The Role of Disclosure in Strengthening Corporate. Governance and Accountability. Hongkong, China.• Lemmon, Michael., and Lins, Karl. (2001, April) Ownership Structure, Corporate Governance, and Firm Value: Evidence from the East Asian Financial Crisis. William Davidson Working Paper Number 393.• Lukviarman, N. (2004). Implementation Constraints of Good Corporate Governance in Indonesia.• Study Team. (2010). Study about Guidance of Good Corporate Governance in Countries’ Member of ACMF. Jakarta: Ministry of Finance of Republic Indonesia, National Agency of Capital Market, and Financial Institutions.• Tabalujan. (2002). Why Indonesian Corporate Governance Failed – Conjectures Concerning Legal Culture. 15 Columbia Journal of Asian Law
  13. 13. THANKS FOR YOUR AT T E N T I O N

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