STUDI FENOMENOLOGI: MEMAKNAI TATA KELOLA PERUSAHAAN PADA BISNIS KELUARGA BERETNIS TIONGHOA DI INDONESIA
DOI:
https://doi.org/10.25273/inventory.v2i2.3290Keywords:
Kewirausahaan, Manajemen, Akuntansi KeuanganAbstract
meaning, and state actions taken by parties involved in family business practices, especially those related to the governance, succession and organizational culture of Chinese ethnicity in Indonesia. The results of the literature study show that the source of strength of ethnic Chinese family businessmen lies in their behavior, where in general the social behavior of ethnic Chinese communities still refers to the beliefs of Confusionism teachings and traditional cultural values of their ancestors. The key to success in doing business with Chinese people is better known as the Guanxi, Ganqing, and Xinyong trilogy, which are the characteristics of human relations in the business world that still need to be explored more deeply whether it is appropriate to apply in Indonesia. In running an ethnic Chinese family business, family members are the main character.
To avoid agency conflicts and to perpetuate companies that have been pioneered by its predecessor, in some Chinese ethnic family companies in Indonesia a good governance in family business has been implemented through the distribution of share ownership (there is a percentage of ownership), then also a transparent succession process (starting from the deepest family) with the selection process and the transition stage. The progress of a family company can be
demonstrated by increasingly clear rules regarding ownership, management and governance.
Keywords: family corporate governance, trilogy (Guanxi, Ganqing, and Xinyong)
Downloads
References
Amran, N. A., & Ahmad, A. C. (2010).Family succession and firm performance among Malaysian companies.International Journal of Business and Social Science, 1 (2), 193-203.
Anderson, R. C., & Reeb, D. M. (2003). Founding-family ownership and business performance: Evidence for the S & P 500. The Journal of Finance, 58 (3), 1301-1328.
Aronoff, C. E. (1998).Megatrends in family business.Family Business Review, 11 (3), 181-185.
Arosa, B., Iturralde, T., & Maseda, A. (2010). Ownership structure and firm performance in non-listed firms: Evidence from Spain. Journal of Family Business Strategy, 1 (2), 88-96.
Athanassiou, N., Crittenden, W. F., Kelly, L. M., & Marquez, P.
(2002).Founder centrality effects on the Mexican family firm’s top management group: Firm culture, strategic vision and goals, and firm performance.Journal of World Business, 37 (2),139-150.
Block, J. H. (2010). R & D investments in family and founder firms: An agency perspective. Journal of Business Venturing, 27 (2), 248-265.
Cabrera-Suarez, K., Da Saa-Perez, P., & Garcia-Almeida, D. (2001). The succession process from a resource and knowledge based view of the family firm. Family Business Review, 14 (1), 37-47
Carter, D. A., Simkins, B. J., Simpson, W. G. (2003). Corporate governance, board diversity, and firm value.The Financial Review, 38 , 33-53
Chrisman, J. J., Chua, J. H., & Sharma, P. (1998). Important attributes of successor in family businesses: An exploratory
research. Family Business Review, 11 (1), 19-34.
Chinomona, R. (2012). The influence of dealers’ referent power and legitimate power in Guanxi distribution networks: The case of Taiwan's SME firms. African Journal of Business Management, 6 (37), 10125-10137
Claessens, S., Djankov, S., & Lang, L. H. P. (2000). The separation of ownership and control in East Asian corporation. Journal of Financial & Economics, 58 (112), 81-112.
Clarke, T., & Branson, D. (2012). Corporate governance. Sage Publications.
Cohen, A. (1974). Two-dimensional man, an essay on the anthropology of power and symbolism in complex society. USA: University of California Press.
Daily, C.,& Thompson, S. (1994). Ownership structure, strategic posture, and firm growth: An empirical examination.Family Business Review, 7 (3), 237–249.
Darmadi, S. (2012).Board structure in publicly-listed family-controlled firms: mitigating or exacerbating agency issues?. Retrived from http://ssrn.com/abstract=2147217
Davis, J. H., Schoorman, F. D., & Donaldson, L. (1997). Towards a stewardship theory of management.Academy of Management Review, 22, 20-47.
Deegan, C. (2004). Financial accounting theory. McGraw-Hill. Australia: Pty Ltd, NSW.
Donaldson, L., & Davis, J. H. (1991). Stewardship theory or agency theory: CEO governance and shareholder returns. Australian Journal of Management, 16, 49-64.
Dunn, T., & Holtyz-Eakin, D. (2000). Financial capital, human capital, and the transition to self-employment: Evidence from intergenerational links. Journal of Labor Economics, 18 (2), 282-305.
Dyer Jr., W. G., & Whetten, D. A. (2006). Family firms and social responsibility: preliminary evidence from the S&P 500. Entrepreneurship Theory and Practice, 30 (6), 785–802.
Dyer Jr., W. G. (2010). Are you the right type of family business? Organizational Dynamics, 39 (3), 269-278.
Eddleston, K. A., & Kellermans, F. W. (2007). Destructive and productive family relationships: A stewardship theory perspective. Journal of Business Venturing, 22 (4), 545-565.
Effendy, M. A. (2009).The power of good corporate governance.Teori dan implementasi. Jakarta: Salemba Empat.
Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of Management Review, 14, 57–74.
Eriksson, P., & Kovalainen, A. (2011). Qualitative methods in business research. London: SAGE Publications Ltd.
Fama, E., & Jensen, M. (1983). Separation of ownership and control.Journal of Law and Economics, 26 (2), 301-325.
Fekum (2011, 19 April). Pintu aman masa depan perusahaan keluarga. Warta Ekonomi, XXIII.
Gomper, P., Ishii, J., & Metrick, A. (2003). The corporate governance and equity prices.The Quaterly Journal of Economics, 118 (1), 107-155.
Handler, W. C. (1990). Succession in family firms: A mutual role adjustment between entrepreneur and next-generation family members. Entrepreneurship Theory & Practice, 15 (1), 37-51.
Haque, F., Arun, T., & Kirkpatrick, C. (2011). The political economy of corporate governance in developing economies: The case of Bangladesh. Research in International Business and Finance, 25(2), 169-182.
Harveston, P. D., Davis, P. S., & Lyden, J. A. (1997). Succession planning in family business: The impact of owner gender. Family Business Review, 10 (4), 373-396.
Hayton, J. C., George, G. & Zahra, S. A. (2002). National culture and entrepreneurship: A review of behavioral research. Entrepreneurship Theory and Practice, 26 (4), 33-52.
He, X., Wang, Z., Mei, L., & Lian, Y. (2010). The impact of founder turnover on firm performance: An empirical study in China. Journal of Chinese Entrepreneurship, 2 (2), 148-164.
Hofstede, G. (1980). Culture's consequences: international differences in work-related values. Beverly Hills CA: Sage Publications.
Hofstede, G (1991). Cultures and organizations: software of the mind. New York: McGraw-Hill USA.
Hsu, R. (2008). China fireworks. Hoboken, New Jersey: John Wiley & Son.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the business: Managerial behavior, agency costs and ownership structure. Journal
of Financial Economics, 13, 305-360.
Kaye, K., & Hamilton, S. (2004). Roles of trust in consulting to financial families.Family Business Review, 17 (2), 151-163.
Kelly, L. M., Athanassiou, N., & Crittenden, W. F. (2000). Founder centrality and strategic behavior in the family-owned firm. Entrepreneurship Theory andPractice, 25 (2), 27-42.
Kodrat, D. S. (2008).Siklus hidup perusahaan keluarga di Indonesia (Studi pada PT. Nyonya Meneer).Usahawan, 06 (37), 27-35.
Kuratko, D. (1993). Family business succession in Korean and U.S. firms. Journal ofSmall Business Management, 31 (2),132-136.
Kusumastuti, S., Supatmi., & Sastra, P. (2007). Pengaruh board diversity terhadap nilai perusahaan dalam perspektif corporate governance.Jurnal Akuntansi dan Keuangan, 9 (2), 88-98.
La Porta, R., Lopez-de-Silanes, F., & Shleifer, A (1999). Corporate governance around the world.Journal of Finance, 54 (2), 471-517.
Lam, W. (2011). Dancing to two tunes: Multi-entity roles in the family business succession process. International Small Business Journal, 29 (5), 508-533.
Langenberg, E. A. (2007) Guanxi and Business Strategy : Theory and implications for multinational companies in China. Heidelberg New York : Physica-Verlag.
Lansberg, I. (1988). The succession conspiracy.Family Business Review, 1 (2), 119-143.
Lansberg, I. (1999). Succeeding generations: realizing the dream of families in business. Boston, USA: Harvard Business School Press.
Lucky, E. O., Minai, M. S., & Isaiah, A. O. (2011). A conceptual framework of family business succession: Bane of family business continuity. International Journal of Business and Social Science, 2 (18), 106-113.
Lussier, R. N., & Sonfield, M. C. (2010).A six-country study of first, second, and third generation family business.International Journal of Entrepreneurial Behaviour & Research, 16 (3), 414-436.
McConaughy, D., Walker, M., Henderson, G., & Mishra, C. (1998). Founding family controlled firms: Efficiency and value. Review of Financial Economics, 7 (1), 1-19.
Moleong, L. J. (2011). Metodologi penelitian kualitatif. Edisi Revisi. Bandung: Remaja Rosdakarya.
Molly, V., Laveren, E., & Deloof, M. (2010). Family business succession and its impact on financial structure and performance.Family Business Review, 23 (2), 131-147.
Morck, R., & Yeung, B. (2004), Family control and the rent-seeking
society.Entrepreneurship Theory and Practice, 28 (4), 391-409.
Morris, M. H., Williams, R. W., & Nel, D. (1996). Factors influencing family business succession.International Journal of Enterpreneurial Behaviour and Research, 2 (3), 68-81.
Myers, M. D. (2009). Qualitative research in business & management. London: SAGE Publications Ltd.
Permatasari, L., & Mustamu., R. H (2015). Analisis proses suksesi pada perusahaan manufaktur farmasi. AGORA, 3 (2), 542-546.
Pounder, P. (2015). Family business insights: an overview of the literature. Journal of Family Business Management, 5 (1), 116 - 127
Sato, Y. (2003). Corporate governance in Indonesia: A study on governance of business groups. Asian Development Experiment, 2, 88-136.
Short, J. C., Payne, G. T., Brigham, K. H., Lumpkin, G. T. & Broberg, J. C. (2009). Family firms and entrepreneurial orientation in publicly traded firms: A comparative analysis of the S & P 500. Family Business Review, 22 (1), 9-24.
Siagian, F. T. (2011). Ownership structure and governance implementation: Evidence from Indonesia. International Journal of Business, Humanities and Technology, 1 (3),187.
Soedibyo, M. (2007, 9 September). Penerus perusahaan keluarga kadang tidak berlangsung lama.Suara Pembaruan, p. 2.
Strauss, A. & Corbin, J. (2009). Dasar-dasar penelitian kualitatif. Yogyakarta: Pustaka Pelajar.
Sugiyono. (2007). Menjawab stigma, mewariskan tradisi. Retrived
June, 14, 2007, from http://www.kabarejogja.com/
Susanto, A. B., Sujanto., Wijanarko., Himawan., Patricia., Mertosono., …& Ismangil, W. (2008). A strategic management approach, corporate culture & organization culture. From http://swa.co.id/tag/the-jakarta-consulting-group/
Susanto, A. B. (2009). Suksesi dalam family business; 70% gagal sampai generasi kedua. Retrived April, 17, 2009, from https://ifambiz.wordpress.com/
Susanto, A. B., & Susanto, P. (2013). The dragon network: inside stories of the most successful chinese family business. Singapore: John Wiley & Sons.
Suyono, E. (2015). Reaksi investor terhadap pemilihan auditor spesialis industri pada perusahaan keluarga di Bursa Efek Indonesia. Jurnal Keuangan dan Perbankan, 19 (1), 1-15.
Tirdasari, N. L., & Dhewanto, W. (2012). Family business succession in Indonesia: A study ofhospitality industry. Procedia - Social and Behavioral Sciences, 57, 69-74.
Tjoe, T. L. (2008).RahasiasuksesbisnisetnisTionghoa di Indonesia. Media Pressindo. Yogyakarta.
Villalonga, B., & Amit, R. (2006). How do family ownership, control and management affect firm value?.Journal of Financial Economics, 80, 385-417.
Ward, J. L. (1997). Growing the family business: Special challenges and best practices. Family Business Review, Family Firm Institute, 10 (4), 323-337.
Westhead, P. & Cowling, M. (1998). Family firm research: the need for a methodological rethink. Entrepreneurship Theory and Practice, 23 (1), 31-56.
Wheelen, T. L. and Hunger, J. D (2012). Strategic management and business policy. (13th ed). Pearson Prentice Hall.
Wulandari, I. S. (2009).Suksesi, nasib perusahaan keluarga di tangan generasi ketiga.Retrived 2009, 5, Februari, from https://iswekon.wordpress.com/author/.
Downloads
Published
Issue
Section
License
Authors who publish in this journal agree to the following terms:
Â
- The copyright of any article is held by its author.
- The author grants the journal, first publication rights with the work licensed concurrently under a Creative Commons Attribution License which allows others to share the work with an acknowledgment of authorship and the work's initial publication in this journal.
- Authors may make additional separate contractual arrangements for the non-exclusive distribution of the published journal version of the work (for example, posting it to an institutional repository or publishing it in a book), with acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (for example, in institutional repositories or on their websites) before and during the submission process, as doing so can lead to a productive exchange, as well as earlier and larger citation of the published work.
- Published articles and related materials are distributed under a Creative Commons Attribution-ShareAlike 4.0 International License