The Analysis of Pre-Merger and Post-Merger of Good Corporate Governance Implementation in PT CIMB Niaga Tbk
Keywords:
good corporate governance, mergerAbstract
This study aims to examine the performance of Good Corporate Governance in merger companies. This study would like to outline the difference between pre-merger and post-merger Good Corporate Governance Performance. This study uses secondary data obtained from annual report of PT CIMB Niaga listed in Indonesia Stock Exchange (IDX) from 2007-2020. The author uses qualitative coding method in analyzing the data. Data analysis uses is content analysis design to analyze and understanding the text. The result of this study shows that merger give positive impact in Good Corporate Governance growth.
References
Agusyani, N. K., Sujana, E., & Wahyuni, M. A. (2016). Pengaruh Whistleblowing System dan Kompetensi Sumber Daya Manusia Terhadap Pencegahan Fraud pada Pengelolaan Keuangan Penerimaan Pendapatan Asli Daerah (Studi Pada Dinas Pendapatan Daeah Kabupaten Buleleng). e-JournalS1 Ak Univeristas Pendidikan Ganesha, vol: 6 No: 3.
Allen, B., & Reser, D. (1990). Content Analysis in Library and Information Science Research. Library and Information Science research, 12(3), 251-262.
Alleyne, P. H., & Pike, R. (2013). Towards a conceptual model of whistle-blowing intentions among external auditors. The British Accounting Review, Vol. 45 No. 1, pp. 10-23.
Alleyne, P., Charles-Soverall, W., Broomey, T., & Pierce, A. (2017). Perceptions, Predictors, and Consequences of Whistleblowing among Accounting Employees in Barbados. Meditary Accountancy Research, 241-267.
Amihud, Y., & Lev, B. (1981). Risk Reduction as a Manegrial Motive for Conglomerate Merger. Bell Journal of Economics, 12(2), 605-617.
Asquith, P. (1983). Merger Bids, Uncertainty and Stockholder Returns. Journal of Financial Economics, 11(1-4), 51-83.
Beams, F., Anthony, J., Bettinghaus, B., & Smith, K. (2012). Advanced Accounting. New Jersey: Pearson Prentice Hall.
Berg, B. (2001). Qualitative Research Methods For The Social Science. Boston: Allyn and Bacon.
Bjorkelo, B. E., & Matthiesen, S. (2010). Predicting proactive behaviour at work: exploring the role of personality as an antecedent of whistleblowing behaviour. Journal of Occupational and Organizational Psychology, Vol. 83 No. 22, pp. 371-394.
Bowie, N. (1982). Business Ethics. New Jersey: Prentice-Hall.
Bradley, J. (1993). Methodological Issues and Practices in Qualitative Research. The Library Quarterly, 63(4), 431-449.
Bradley, M., Desai, A., & Kim, E. (1988). Synergistic Gains from Corporate Acquisitions and Their Division Between the Stockholders of Target and Acquiring Firms. Journal of Financial Economics, 21(1), 3-40.
Brealey, R. A., Myers, S., & Marcus, A. J. (2008). Fundamentals of Corporate Finance. New York: McGraw-Hill.
Brennan, & Kelly. (2007). Sebuah Studi Tentang Whistleblwoing Antara Auditor Peserta Pelatihan. The British Accounting Review, Vol. 39(1): 61-87.
Chinn, R. (2000). Corporate Governnace Handbook. London: Gee Publishing Ltd.
Dandekar, N. (1990). Can Whistleblowing be Fully Legitimated? A Theoretical Discussion. Business & Porfesional Ethics Journal, 89-108.
Daniri, M. A. (2005). Good Corporate Governanace: Konsep dan Peneraapaannyaa di Indonesiaa. Jakartaa: Ray Indonesiaa.
Daniri, M. A. (2005). Good Corporate Governnace dan Penerapannya di Indonesia. Jakarta: Ray Indonesia.
Dasgupta, S., & Kesharwani, A. (2010). Whistleblowing: A Survey Literature. The IUP Journal Corporate Governance, Vol IX, No. 4, pp. 57-70.
De Wever, B., Schellens, T., Valcke, M., & Van Keer, H. (2006). Content Analysis Schemes to Analyze Transcripts of Online Asynchronous Discussion Groups: A Review . Journal Computers and Education, 46(1), 6-28.
Denzin, N. (2002). Interpretive Interactionism (2nd ed., Vol. 16). London: Sage.
Eaton, T., & Akers, M. (2007). Whistleblowing and Good Governance. The CPA Journal, Vol. 77 No.6, pp. 66-71.
Ejoor, F. W., Okechukwu, E. U., & Iroegbu, F. N. (2018). Merger and Acquisition as a Growth Strategy in Business Organization: A Study of Nigeria Banking Sector. Journal of Business and Management, 61.
Erkmen, T., Caliskan, A. O., & Esen, E. (2014). An Empirical Research about Whisteblowing behavior in accounting context. Journal of Accounting and Organizational Change, 229-243.
Essen, M. V., Engelen, P.-J., & Carney, M. (n.d.). Does 'Good' Corporte Governance Help in a Crisis? The Impact of Country-and Firm-Level Governance Mechanism in the European Financial Crisis.
Foster, G. (1986). Financial Statement Analysis (Prentice-Hall Series in Accounting) (2nd ed.). New Jersey: Prentice-Hall International.
Gaughan, P. (2011). Mergers, Acquisitions and Corporate Restructuring (5th ed.). Hoboken: John Wiley & Sons.
Giddens, & Anthony. (1986). Kapitalisme dan Teori Sosial Modern: Suatu Analisis Karya Tulis Marx, Durkheim, dan Max Weber. Jakarta: UI-Press.
Haleblian, J., Devers, C. E., McNamara, G., Carpenter, M. A., & Davidson, R. B. (2009). Taking Stock of What We Know About Mergers and Acquisitions: A Review and Research Agenda. Journal of Management, 469-502.
Hanafi, M. M. (2014). Manajemen Keuangan (1st ed.). Yogyakarta: BPFE.
Hsieh, H.-F., & Shannon, S. (2005). Three Approaches to Qualitative Content Analysis. Qualitative Health Research, 15(9), 12-77.
IAI. (2015). Pernyataan Standar Akuntansi Keuangan 2015. Jakarta: IAI.
Jensen, M. (1986). Agency Cost of Free Cash Flow, Corporate Finance and Takeovers. American Economic Review, 76.
Jumingan. (2011). Analisis laporan keuangan. Jakarta: PT. Bumi Aksara.
Kaen, F. (2003). A Blueprint for Corporate Governance: Stregy, Accountability, and the Preservation of Shareholder Value. USA.
Kripendorff, K. (2004). Content Analysis an Introduction to Its Methodology 2nd Edition. London: Sage Publiction.
Lincoln, Y., & Guba, E. (1985). Naturalistic Inquiry. Beverly Hills: Sage Publications.
Martynova, M., Oosting, S., & Renneboog, L. (2006). The Long-Term Operating Performance of European Mergers and Acquisitions. Finance Working Paper, 77-116.
Mayring, P. (2000). Qualitative Content Analysis: Theoretical Foundation, Basic Procedures and Software Solution. Forum Qualitative Social Research, I(2), 139-148.
Meta, A. (2010). Analisis Manajemen Laba dan Kinerja Keuangan Perusahaan Pengakuisisi Sebelum dan Sesudah Merger dan Akuisisi yang Terdaftar di Bursa Efek Indonesia Tahun 2008-2009. Semarang: Universitas Diponegoro.
Miles, M., Huberman, A., & Saldana, J. (1994). Qualitative Data Analysis. Canada: Sage Publications.
Miller, L.-B., & Lester, R. (2010). Family Ownership and Acquisition Behavior in Publicly-Traded Company. Strategic Management Journal, 201-223.
Moin, A. (2003). Merger, Akuisisi dan Divestasi (Vol. I). Yogyakarta: Ekonisia.
Monks, R. A., & Minow, N. (2003). Corporate Governance 3rd Edition. Blackwell Publishing.
Morck, R., Shleifer, A., & Vishny, R. (1990). Do Managerial Objectives Drive Bad Acquisitions? Journal of Finance, 45(1), 31-48.
Myers, S., & Majluf, N. (1984). Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have. Journal of Financial Economics, 13(2), 187-221.
Nugroho, V. O. (2015). Pengaruh Persepsi Karyawan Mengenai Whistleblowing System Terhadap Pencegahan Fraud dengan Perilaku Etis Sebagai Variable Intervening. Yogyakarta: Universitas Negeri Yogyakarta.
Patel, P., & King, D. R. (2015). Defensive Acquisitions in Medium-Sized Family Firms. The Routledge Companion to Mergers and Acquisitions, 57-73.
Patton, M. Q. (2002). Qualitative Research and Evalution Methods (3rd ed.). Sage Publications Inc.
Payamta, & Setiawan, D. (2004). Analisis Pengaruh Merger dan Akuisisi Terhadap Kinerja Perusahaan Publik di Indonesia. Jurnal Riset Akuntansi Indonesia, 7(3), 265-282.
Peni, E., & Vahamaa, S. (2011). Did Good Corporate Governance Improve Bank Performance During Financial Crisis? Journal of Financial Services Research.
Pilloff, S., & Santomero, A. (1996). The Value Effects of Bank Mergers and Acquisitions. Journal of Money, Credit and Banking, 28(3), 294-310.
Prasanna, D. P. (2014). Whistleblower Mechanism For Good Corporate Governance. Journal of Business and Management, 01-06.
Qusqas, F., & Kleiner, B. (2001). The Difficulties of whistleblowers finding employment. Management Research News, Vol. 24 Nos 3/4, pp. 97-100.
Rhodes-Kropf, M., Robinson, D., & Viswanathan, S. (2005). Valuation Waves and Merger Activity: The Empirical Evidence. Journal of Financial Economics, 77(3), 561-603.
Riffe, D., Lacy, S., & Fico, F. (1998). Analysing Media Messages: Using Quantitative Context Analysis in Research. Mahwah: Lawrence Erlbaum Associates.
Roll, R. (1986). The Hubris Hypothesis of Corporate Takeovers. Journal of Business, 59(2), 197-216.
Schilling, J. (2006). On the Pragmatics of Qualitative Assessment: Designing the Process for Content Analysis. European Journal of Psychological Assessment, 22(1), 28-37.
Seputro, E. (2002). Pengaruh Merger dan Akuisisi terhadap Profabilitas, Effisiensi, dan Nilai Guna Perusahaan. Magister Management UGM: Thesis, Unpublished.
Seth, A., Song, K., & Pettit, R. (2000). Synergy, Managerialism or Hubris? An Empirical Examination of Motives for Foreign Acquisitions of U.S Firms. Journal of International Business Studies, 31(3), 387-405.
Shleifer, A., & Vishny, R. (1989). Management Entrenchment: The Case of Manager-Specific Investments. Journal of Financial Economics, 25, 123-139.
Simon, H. (2009). Hidden Champions of The 21st Century: Success Strategies of Unknown World. Dordrecht: Springer.
Sjahrial, D. (2014). Manajemen Keuangan Lanjutan Edisi Revisi. Jakarta: Mitra Wacana Media.
Smith, H. (1975). Strategies of Social Research: The Methodological Imagination (4th ed.). New Jersey: Prentice Hall.
Sugiyono. (2012). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: Alfabeta.
Sweeney, P. (2008). Hotlines Helpful for Blowing The Whistle. Finance Executive, Vol. 24(24): 28-31.
Syaefulah, I., Purnamasari, P., & Maemunah, M. (2018). The Influence Internal Audit Performance Quality and Effectiveness of Whistleblowing Against Fraud Prevention. Prosiding Akuntansi, Volume 4, No. 2.
Tampubolon, M. (2013). Manajemen Keuangan . Jakarta: Mitra Wacana Media.
Tesch, R. (1990). Qualitative Research: Analysis Types and Software Tools. New York: The Falmer Press.
Tirthayatra, I. B. (2005). Peraturan BAPEPAM Atas Merger dan Akuisisi. Jakarta: Warta BAPEPAM-LK.
Tirthayatra, I. M. (2005). Peraturan BAPEPAM Atas Merger dan Akuisisi. Jakarta: Warta BAPEPAM-LK.
Trautwein, F. (1990). Merger Motives and Merger Prescriptions. Strategic Management Journal, 11, 283-295.
Tugiman, H. (2006). Standar Profesional Audit Internal. cetakan ke 9.
Utari, D., Purwanti, A., & Prawironegoro, D. (2014). Manajemen Keuangan: Edisi Revisi. Jakarta: Mitra Wacana Media.
Vinten, G. (1999). A Whistleblowing Code for Educational Institution. Interntional Journal of Educational Management, Vol. 13 No. 3, pp.150-157.
Weber, R. (1990). Basic Content Analysis (2nd ed.). Canada: Sage Publications.
Worek, M., Massis, A. D., Wright, M., & Veider, V. (2018). Acquisition, Disclosed Goals and Firm Characteristics: A Content Analysis of Family and Nonfamily Firms. Journal of Family Business Strategy.
Worek, M., Massis, A. D., Wright, M., & Veider, V. (2018). Acquisitions, Disclosed Goals and Firm Characteristics: A Content Analysis of Family and Non-Family Firms. Journal of Family Business Strategy, 9, 250-267.
Yunus, H. (2011). Etika Bisnis dan Tinjuan Peraturan Perundang-undangan: Memastikan Sektor Swasta Melaksanakan Program Anti Korupsi untuk Menciptakan Sistem Integritas Nasional. Indonesia: Forum Diskusi Fakultas Hukum Universitas Indonesia.
Zarkasyi, M. W. (2008). GoodCorporate Governance pada badan usaha manufaktur, perbankan, dana jasa keuangan lainnya. Bandung: Alfabeta.
