Kamis, 6 Juli 2017 Fakultas Ekonomi dan Bisnis UI menyelenggarakan sidang terbuka dalam rangka penganugerahan gelar Doktor Program Pascasarjana Ilmu Manajemen (PPIM) kepada Bapak Mardianto E. Danusaputro (Manajemen Stratejik) Lulusan ke 228 dari PPIM dengan disertasi berjudul ‘’Impact Of Strategic Consensus and Satisfying Decision on Buying and Selling Performance : Comparative Analysis and Success Factors in The Private Equity Industry in South East Asia”.
This study investigates organizations’ risk-based decision making; that is, risk behavior that is influenced by both external factors such as industry dynamism and also internal factors such as goals and resources. Top management team (TMT) in the private equity industry engage in activities of buying and selling companies, with the goal of delivering returns (gains) to investors. In this study, private equity companies in South East Asia, focusing on Indonesia, Singapore, Malaysia, Thailand, and Vietnam were asked a series of questions relating to their buying and selling decision making process resulting in 46 respondents for Buy decision and 35 respondents for Sell decision. The two sample sets werem analysed separately using structural equation model (SEM). The empirical results show that the decision making process of TMT in private equity industry in SE Asia is different for Buying compared to Selling situations whereby in Buying situations, the process is influenced by rational decision making, organization support, strategic consensus, strategic commitment, effective negotiation, and satisfying decision. In comparison, for Selling situations, the process follows the same flow except it excludes rational decision making. This may be caused by certain industry practices such as time limitation or limited offers that could force a private equity company to sell even if it may not deliver the most optimum benefit fot the bottom line. Morever, this study shows how composition of TMT members, and allocation of resources, together with external factors may impact the decision making process. In summary, this study tries to enrich our understanding the drivers of the decision making steps when in situations of buying versus selling for the dynamic private equity industry.
Keywords: decision making, buy companies, sell companies, priate equity, Southeast Asia, loss, gain