Abstract
References
- A. Books Amirudin and H. Zainal Asikin, (2006). Pengantar Metode Penelitian Hukum, Jakarta: Raja Grafindo Persada. Anggraini, AM. Tri, (2006), Perpektif Penetapan Harga Menurut Persaingan Usaha dalam Masalah-Masalah Hukum Ekonomi Kontemporer, Jakarta: Fakultas Hukum Universitas Indonesia Lembaga Studi Hukum Ekonomi. Balfas, Hamud, M.(2012).Hukum Pasar Modal Indonesia,Jakarta: Tatanusa. Choirie, Effendy, (2003). Privatisasi Versus Neo-Sosialisme Indonesia, Jakarta: Pustaka LP3ES. Folsom, Ralph H. and Michael W. Gordon,(1995), International Business Transactions, St. Paul: West Publishing Hotchkiss, Carolyn, (1994), International Law for Business, Singapore: McGraw-fbll. Ibrahim, Johnny.(2006). Teori dan Metodologi Penelitian Hukum Normatif, Malang: Bayumedia Publishing. -----------, (2009), Hukum Persaingan Usaha Filosofi, Toeri dan Implikasi Penerapannya di Indonesia, Malang: Bayumedia Publishing. Nadapdap,Binoto. (2009). Hukum Acara Persaingan Usaha, Jakarta:Jala Permata Aksara. Nugroho, Susanti Adi. (2014).Hukum Persaingan Usaha di Indonesia: Dalam Teori dan Praktik serta Penerapan Hukumnya, Jakarta: Kencana Prenadamedia Group. Robert, Ang. (1997). Pintar Pasar Modal Indonesia, Jakarta: Mediasoft Indonesia. Sitompul, Asril. (1999).Due Diligence dan Tanggung Jawab Lembaga-Lembaga Penunjang pada Proses Penawaran Umum, Bandung: Citra Aditya Bakti. ----------, (2004). Pasar Modal Penawaran Umum dan Permasalahannya, Cetakan Ke-III, Bandung: Citra Aditya Bakti. Soemitro, Ronny Hanitijo.(1988). Metodologi Penelitian Hukum dan Jurimetri, Jakarta: Ghalia Indonesia. B. Journals, Theses and Dissertations Kartika, Mega. (2009). "Peran dan Tanggungjawab Underwriter dalam Perjanjian Full Commitment di Pasar Perdana”, (Thesis Faculty of Law, University of North Sumatra, Medan, 2009). Pakpahan, Kadiman. (2003). "Strategi Investasi di Pasar Modal", Journal of The Winners, Vol.4 No.2, (September 2003). Wiradiputra, Ditha, Pengantar Hukum Persaingan Usaha, Module for Retooling Program under Employee Graduates at Priority Disiciplines under TPSDP (Technology and Profesional Skills Development Sector Project) at DIKTI Jakarta on 14th September 2004. C. Regulations The Contitution of the Republic of Indonesia 1945 Indonesia, Law No. 8 of 1995 about Capital Market, LN year 1995 No 64, TLN No 3608. Indonesia,Law No. 5 of 1999 about Prohibition of Monopolistic Practices and Unfair Competition, LN year 1999 No. 33,TLN No. 3817 Indonesia, Law No. 40 Year 2007 about Limited Liability Company, LN year 2007 No 106, TLN No 4756. Bangko Sentral NG Pilipinas, Manual of Regulations for Non-Bank Financial Institutions D. Other Sources Kontan, "Perang Fee Penjamin Emisi Makin Sengit" http://investasi.kontan.co.id/news/perang-fee-penjamin-emisi-makin-sengit accessed on 5 September, 2017 at 13:29 WIB Pos Kupang “Perang Tarif Penjamin Emisi Tidak Sehat” http://kupang.tribunnews. com/2010/03/27/ perang-tarif-penjamin-emisi-tidak-sehat accessed on 5 September, 2017 at 13:51 WIB Hukum Online, “Ada Indikasi Persaingan Usaha Tidak Sehat dalam Tarif Obligasi” http://www.hukumonline. com/berita/baca/hol10454/ada-indikasi-persaingan-tidak-sehat dalam-perang-tarif-obligasi accessed on September 5, 2017 at 11:31 WIB
THE URGENCY OF MINIMUM FEE DETERMINATION FOR UNDERWRITER BOND COMPANIES TO PREVENT THE POTENTIAL OF UNFAIR COMPETITION IN THE CAPITAL MARKET IN INDONESIA
Abstract
This research
aims to analyze the potential of unfair competition in the underwriter
companies of bond issuances and to analyze the urgency of the minimum fee
determination to prevent the potential of unfair competition in the capital
market in Indonesia. The main method uses in this research is literature study
to obtain the objective results. Literature study to do towards some regulations,
journals, scientific papers, newspapers and other sources which are further
analyzed by the researcher. While the type of research used is normative juridical.
The results of this research are: The first,
there is potential of unfair competition in the underwriter companies of bond
issuances that enables small companies are bankrupt. This is due to the
underwriter tariff is too low and not worth with the risk borne. For
example the fee for underwriters reaches zero percent, whereas the
underwriter's duties are so numerous and the risks are huge, especially in full
commitment agreement. This ways are used
by the large securities companies to switch off the opponent. The second, the
minimum fee determination of underwriter companies is very important to prevent
unfair competition. This is due to there is no regulation concerning the
minimum fee of underwriter companies in Indonesia. Despite
there are the provisions of Article 20 of Law No. 5 of 1999 about Prohibition
of Monopolistic Practices and Unfair Competition which prohibits businesses do
selling at a loss, but the arrangement concerning about fee for the underwriter
is not necessarily being a subject to this regulation because the mechanism
entirely submitted to the market. Under these conditions, the government should
make a minimum threshold for the underwriter companies to prevent unfair
competition in the form of regulation.
References
- A. Books Amirudin and H. Zainal Asikin, (2006). Pengantar Metode Penelitian Hukum, Jakarta: Raja Grafindo Persada. Anggraini, AM. Tri, (2006), Perpektif Penetapan Harga Menurut Persaingan Usaha dalam Masalah-Masalah Hukum Ekonomi Kontemporer, Jakarta: Fakultas Hukum Universitas Indonesia Lembaga Studi Hukum Ekonomi. Balfas, Hamud, M.(2012).Hukum Pasar Modal Indonesia,Jakarta: Tatanusa. Choirie, Effendy, (2003). Privatisasi Versus Neo-Sosialisme Indonesia, Jakarta: Pustaka LP3ES. Folsom, Ralph H. and Michael W. Gordon,(1995), International Business Transactions, St. Paul: West Publishing Hotchkiss, Carolyn, (1994), International Law for Business, Singapore: McGraw-fbll. Ibrahim, Johnny.(2006). Teori dan Metodologi Penelitian Hukum Normatif, Malang: Bayumedia Publishing. -----------, (2009), Hukum Persaingan Usaha Filosofi, Toeri dan Implikasi Penerapannya di Indonesia, Malang: Bayumedia Publishing. Nadapdap,Binoto. (2009). Hukum Acara Persaingan Usaha, Jakarta:Jala Permata Aksara. Nugroho, Susanti Adi. (2014).Hukum Persaingan Usaha di Indonesia: Dalam Teori dan Praktik serta Penerapan Hukumnya, Jakarta: Kencana Prenadamedia Group. Robert, Ang. (1997). Pintar Pasar Modal Indonesia, Jakarta: Mediasoft Indonesia. Sitompul, Asril. (1999).Due Diligence dan Tanggung Jawab Lembaga-Lembaga Penunjang pada Proses Penawaran Umum, Bandung: Citra Aditya Bakti. ----------, (2004). Pasar Modal Penawaran Umum dan Permasalahannya, Cetakan Ke-III, Bandung: Citra Aditya Bakti. Soemitro, Ronny Hanitijo.(1988). Metodologi Penelitian Hukum dan Jurimetri, Jakarta: Ghalia Indonesia. B. Journals, Theses and Dissertations Kartika, Mega. (2009). "Peran dan Tanggungjawab Underwriter dalam Perjanjian Full Commitment di Pasar Perdana”, (Thesis Faculty of Law, University of North Sumatra, Medan, 2009). Pakpahan, Kadiman. (2003). "Strategi Investasi di Pasar Modal", Journal of The Winners, Vol.4 No.2, (September 2003). Wiradiputra, Ditha, Pengantar Hukum Persaingan Usaha, Module for Retooling Program under Employee Graduates at Priority Disiciplines under TPSDP (Technology and Profesional Skills Development Sector Project) at DIKTI Jakarta on 14th September 2004. C. Regulations The Contitution of the Republic of Indonesia 1945 Indonesia, Law No. 8 of 1995 about Capital Market, LN year 1995 No 64, TLN No 3608. Indonesia,Law No. 5 of 1999 about Prohibition of Monopolistic Practices and Unfair Competition, LN year 1999 No. 33,TLN No. 3817 Indonesia, Law No. 40 Year 2007 about Limited Liability Company, LN year 2007 No 106, TLN No 4756. Bangko Sentral NG Pilipinas, Manual of Regulations for Non-Bank Financial Institutions D. Other Sources Kontan, "Perang Fee Penjamin Emisi Makin Sengit" http://investasi.kontan.co.id/news/perang-fee-penjamin-emisi-makin-sengit accessed on 5 September, 2017 at 13:29 WIB Pos Kupang “Perang Tarif Penjamin Emisi Tidak Sehat” http://kupang.tribunnews. com/2010/03/27/ perang-tarif-penjamin-emisi-tidak-sehat accessed on 5 September, 2017 at 13:51 WIB Hukum Online, “Ada Indikasi Persaingan Usaha Tidak Sehat dalam Tarif Obligasi” http://www.hukumonline. com/berita/baca/hol10454/ada-indikasi-persaingan-tidak-sehat dalam-perang-tarif-obligasi accessed on September 5, 2017 at 11:31 WIB
Details
| Journal Section | Articles |
|---|---|
| Authors | |
| Publication Date | December 27, 2017 |
| Submission Date | October 1, 2017 |
| Published in Issue | Year 2017Volume: 3 Issue: 9 |
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