PENGATURAN SAHAM PERUSAHAAN DALAM REZIM HUKUM INDONESIA DAN SINGAPURA SEBAGAI PEMBENTUKAN PASAR TUNGGAL ASEAN
Downloads
Ideas to harmonize the regulation of ‘corporate shares' (CS) in the corporate law of Indonesia and Singapore discussed in order to start up and embody the ASEAN Single Market. This article focused on different minimum standards and requirements (MS&R) in the transaction CS within two different corporate laws of Indonesia and Singapore. It is necessary to employ a conceptual approach, especially corporate share as a very basic of a company, to have a comparative legal analysis to reach a solution. Furthermore, it is to harmonize such standars and requirements on the CS transaction. It is necessary to use the theory of negative regional economic integration that significantly different with the conservative theory aplied inthe EU. As a result, the different regulation of CS between those two different company law regimes should be simplified by withdrawing their similiarities of MS&R. This may create an avenue to achieve the ASEAN's single market in 2015. This new standar (model) would ease the process harmonization in which companies of ASEAN Countries can make a cross-ownership of CS by the mergers and acquisitions of transactions that timely make a strong position in the business competition regionally. I conclude that harmonization of MS&R of CS provided in company laws of Indonesia and Singapore would become a cornerstone for the ASEAN Single Market in which obstacle of joint market has been minimized or even abolished. However, harmonization of MS&R of CS should be in the corridor of sustainable global justice in the ASEAN market competition.Therefore, I recommend that both Indonesia and Singapore should develop a corporate culture in the spirit of the ASEAN Single Market, and review the regulation regarding company law of both countries, especially the CS and legal procedures of the cross-border mergers transaction and acquisition.
Downloads
Anderson, Anne M; Gupta, Parveen P., "A Cross Country Comparison of Corporate Governance and Firm Performance: Do Financial Structure and the Legal System Matter?”, Journal of Contemporary Accounting and Economics, available at http://www.ssrn.com, diakses tanggal 10 Febuari 2009.
Armour John, et.all, "How do Legal Rules Evolve? Evidence from A Cross-Country Comparison of Shareholder, Creditor and Worker Protection”, Center for Business Research, University of Cambridge Working Paper No. 382, July 2009.
Backer, Larry Cata', Harmonizing Law in an Era of Globalization-Convergence, Divergence, and Resistance: An Introduction and Analysis, in Backer, Larry Cata', (ed.), Harmonizin Law in an Era of Globalization, USA, Carolina Academic Press, 2007.
---------, Comparative Corporate Law: United States, European Union, China, and Japan: Case and Materials, Durham-North Carolina, Carolina Academic Press, 2002.
Blazo, Ondrej, Harmonization of Competition Law in Globalized Economy and European Law, Durham-North Carolina, Carolina Academic Press, 2002.
Borgers, Mtthias, "Function and aims of Harmonization after the Lisbon Treaty: a European Perspective”, 2009, available at http://www.ssrn.com”, diakses tanggal 29 Febuari 2009.
Brand, Oliver, "Conceptual Comparison: Towards A Coherence Methology of Comparative Legal Studies”, BROOK. Journal International Law, vol. 32, no.2.
Cumming, Douglas, Johan, Sofia, Regulatory Harmonization and the Development of Private Equity Market, USA, Carolina Academic Press, 2008.
Enriques, Luca, "Company Law Harmonization Reconsidered: What Role for the EC?”, European Corporate Governance Institute/ECGI Working Paper Series in Law, no. 53/2005, available at: http://www.ecgi.org/wp, diakses tanggal 3 Maret 2009
Flesner, Christian Twigg-, "Some thoughts on the Harmonization of Commercial Law and gthe impact on Cross-border Transaction”, in Christian Twigg-Flesner and Gonzalo Villalta Puig, (eds.), Boundries of Commercial Law and Trade Law, Sellier European Law Publishers, available at: http://www.sellier.de, diakses tanggal 3 Maret 2009.
Fuady, Munir, Hukum Tentang Merger, Bandung, Cipta Aditya Bakti, 2002.
Hopt, Klaus J. "Comparative Company Law”, ECGI Working Paper Series in Law, 2006, see at www.ecgi.org/wp, http://www.ssrn.com, diakses tanggal 3 Januari 2010.
Kansil, CST, Kansil, Christine S.T, Seluk Beluk Perseroan Terbatas Menurut Undang-undang No. 40 Tahun 2007, Jakarta, Rineka Cipta, 2009.
KPPU, "Terbanyak, Merger Perusahaan Lokal 2011”, Hukumonline, diakses tanggal 10 Januari 2012.
Leebron, W., "Lying Down with Procrustes: An Analysis of Harmonization Claims”, Working Paper No. 111, The Center for Law and Economic Studies, Columbia University School of Law, January 31, 1995.
Mamlyuk, Borris N., "Russia & Legal Harmonization: An Historical Inquiry into IP Reform as Global Governance and Resistence”, Washington University Global Law Review, vol.10, 2011.
Misawa, Mitsuru, "A Recent Reform of Japanese Banking Law-Comparison of the US and Japanese Legal System For Banking Agencies”, Banking Law Journal, June 2006.
Monti, Mario, "A New Strategy For The Single Market”, Report to the President of the European Commission, 9 May 2010.
Nottage, Luke, "Convergence, Divergence, and Midle Way in Unifying or Harmonization Private Law”, The Center for Law and Economic Studies, Columbia University School of Law, January 31, 1995.
Reuter, Thomson (Pickering Pacific Analysis), "ASEAN 6 – M&A Deals”, Singapore, 2010, tersedia pada www.pickeringpacific.com, diakses tanggal 3 Januari 2010.
Stefan, Paul B., "The Futility of Unification and Harmonization in International Commercial Law”, University of Virginia School of Law, Legal Studies Working Paper Series, no. 99-10, available at: http://www.ssrn.com, diakses tanggal 3 Januari 2010.
UNCTAD, "Global Investment Trends”, Chapter I, World Investment Report 2012, Toward a New Generation of Investment Policies.
Waller, Spencer Weber, "Public Choice Theory and the International Harmonization of Antitrust”, available at: http://www.ssrn.com, diakses tanggal 3 Januari 2010.
Wilets, James D., "A Unified Theory of International Law, The State, and Individual: Transnational Legal Harmonization in the context of Economic and Legal Globalization”, U Pa. J. Int'l L., vol. 31, no.3, 2010.
Wyckaert, Marieke, Koen Geen, "Cross-border Merger and Minority Protection: An Open-ended harmonization”, Utrech Law Review, vol. 4, Issue I (March), igtur, 2008.
