(B. Ekonomi)
A Comprehensive Research on Indonesian State-owned Enterprises: Strategies, Privatization,
Strategic Leadership, Governance, and Performance
Prabowo, Muhammad Agung; Untoro, Wisnu; Trinugroho, Irwan
Fakultas Ekonomi UNS, Penelitian, BOPTN UNS, Hibah Fundamental, 2012
In the first year, this study focuses on the efficiency and performance of SOEs compared to their private-owned counterparts. We have three empirical researches for the first years. Firstly, we analyze the efficiency difference, measured by labor surplus and employee productivity, between partially privatized (publicly traded) SOEs and private owned enterprises (POEs) for non-financial firms. We find that partially privatized Indonesian SOEs have higher employee productivity than that of their private owned counterparts. No difference of labor surplus is found between state-owned and private-owned firms.
Secondly, we examine the accounting performance difference, measured by return on investment and profit margin, between partially privatized SOEs and POEs for non-financial firms. We interestingly find that government ownership of firms lead to a higher accounting performance measured by the ratio of return on assets and the profit margin ratio.
