Achmad Sobirin, Muh. Zakki Fahruddin, Andiana Rosid (2016) Defining Family Business Listing In Indonesia Stock Exchange (idx)

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A study on family business has encountered rapid development in recent decades. The crucial issue which has been attention is how to define a family business. Then, some of these definitions supported by the studies of characteristics, performance and strategy bring up various results due to the difference in definitions by some experts and nations. In Indonesia, the database needs of family business become increasingly difficult if considering that each company is not required by regulation to declare itself as a family business. In this article, we attempt to present some approaches to identify public businesses in order to make comprehensive databases of family business in Indonesia. From the three models of approach (ownership, involvement and potential) we employed, the identification results showed that 214 (42,54%) of 503 go public businesses listed in Indonesia Stock Exchange belonged as family firms. Among the results, 148 companies were obtained through ownership approach, 56 companies were identified through involvement approach, and 10 companies were considered potential as family firms.

Keywords: Family Business, Database, Go Public, Indonesia