MERGERS AND CORPORATE GOVERNANCE, REFORMS OF THE STATE-OWNED ENTERPRISES IN INDONESIA Submitted for the Degree of Master of Arts (Research)

Mergers and corporate governance: reforms of the state-owned enterprises in I The Government of Indonesia has maintained its ownership of the State-Owned Enterprises (SOEs) to achieve various, and sometimes contradictory, economic and political objectives. Although there have been efforts to improve the efficiency and productivity of the SOEs, the performance of the enterprises has remained unsatisfactory for some decades. The study explored how mergers have been used as one of the strategies to improve the efficiency and productivity of the state enterprises in 1988 and 1998. The case study approach allowed the researcher to examine the relationships between various factors that influenced the plantation company, P T Perkebunan Nusantara VIII's performance. Management reforms, the implementation of the mergers, internationa