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Abstrak :
Penggabungan usaha atau megjer merupakan salah satu strategi perusahaan untuk memacu pertumbuhan perusahaan dan meningkatkan nilai untuk pemegang saham. Potensi penambahan nilai bagi pemegang saham dapat terjadi apabila terdapat sinergis dari penggabungan usaha tersebut, dimana nilai perusahaan gabungan lebih besar dari pada jumiah nilai masing-masing perusahaan apabila kedua perusahaan tersebut beroperasi scbagai dua entitas bisnis yang berbeda. Menilik dari kondisi-kondisi yang dialami cleh PT Multistrada Arah Sarana Tbk ("MASA'") dan PT Prasidha Aneka Niaga Tbk ("PSDN"), dimana PSDN sedang mengalami kesulitan keuangan namun memiliki prospek masih baik, sedangkan MASA memerlukan kepastian pasokan bahan baku untuk menunjang kontinuitas produksinya. maka mejer merupakan salah satu wacana yang dapat dipertimbangkan baik oleh manajemen maupun pemegang mayoritas kedua perusahaan untuk meningkatkan nilai perusahaan Langkah yang harus dilakukan sebelum melakukan merjer adalah dengan melakukan evaluasi secara menyeluruh perusahaan yang akan diakuisisi serta melakukan penilaian terhadap pcrusahaan sehingga diperoleh harga akuisisi yang layak. Untuk mencari nilai sinergi yang terjadi dari penggabungan usaha tersebut, dilakukan valuasi terhadap nilai masing-masing perusahaan scbagai entitas bisnis tersendiri dan valuasi nilai perusahaan pasca meger. Nilai sinergi diperoleh dengan mencari selisih nilai perusahaan pasca merjer dan nilai total kedua perusahaan sebelum merjer......Business mergers or mergers are one of the company's strategies to spur company growth and increase shareholder value. The potential for additional value for shareholders can occur if there is a synergy from the merger, where the value of the combined company is greater than the total value of each company if the two companies operate as two different business entities. Judging from the conditions experienced by PT Multistrada Arah Sarana Tbk ("MASA'") and PT Prasidha Aneka Niaga Tbk ("PSDN"), where PSDN is experiencing financial difficulties but has good prospects, while MASA requires certainty in the supply of raw materials to support the continuity of production. then the merger is one discourse that can be considered by both the management and the majority holders of the two companies to increase the value of the company. The step that must be taken before carrying out a merger is to conduct a thorough evaluation of the company to be acquired and conduct an assessment of the company in order to obtain a reasonable acquisition price. To find the value of the synergy that occurs from the business merger, an evaluation of the value of each company as a separate business entity is carried out and the valuation of the post-merger company value. The synergy value is obtained by finding the difference between the post-merger company value and the total value of the two companies before the merger

Abstrak :
Tesis ini membahas tentang sinergi antara lembaga penelitian dan pengembangan dengan industri dalam upaya mendorong pemanfaatan hasil-hasil penelitian agar dapat dijadikan produk yang dapat dimanfaatkan oleh industri / masyarakat. Penelitian ini akan menggali pandangan dan persepsi dari pihak-pihak yang terlibat langsung yaitu industri dan lembaga / pusat penelitian dan pengembangan di kawasan Pusat Penelitian Ilmu Pengetahuan dan Teknologi (Puspiptek) Serpong, Kabupaten Tangerang Selatan. Penelitian ini menggunakan pendekatan kualitatif dengan disain deskriptif. Hasil analisis menunjukkan bahwa Puspiptek belum maksimal dalam mensinergikan kompetensi iptek yang dimiliki antar laboratorium-laboratorium / pusat penelitian yang berada di kawasannya dan antara laboratorium-laboratorium / pusat penelitian yang berada di kawasannya dengan industri yang terkait. Sehingga para pelaku litbang belum maksimal dalam mengembangkan inovasi teknologi yang dimiliki untuk menciptakan produk baru berbasis teknologi. Dalam penelitian ini, peneliti merekomendasikan alternatif kebijakan Resource Management (back-office) yang berfungi membentuk jaringan sumber daya yang dimiliki oleh laboratorium-laboratorium di kawasan Puspiptek dan Business Management (front-office) yang berfungsi untuk menyusun strategi serta mengembangkan dan memasarkan berbagai potensi yang dimiliki Puspiptek.

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This thesis discusses the synergy between research institutions and development with industry in effort to encourage the utilization of research results in order to be a product that can be utilized by the industry / community. This study will explore the views and perceptions of the parties directly involved and the institutions of industrial / research and development center in the Research Center for Science and Technology (Puspiptek) Serpong, South Tangerang Regency. This study used a qualitative approach with a descriptive design. The analysis showed that Puspiptek not maximized in science and technology competencies synergize inter-owned laboratories / research center located in the region and between the laboratories / research center located in the region with related industries. So that the perpetrators have not been maximize up in R & D to develope technological innovations that have to create new technology-based products. In this study, researchers recommend policy alternatives Resource Management (back-office) that form a functioning network of resources owned by the laboratories in the region Puspiptek and Business Management (front-office) that serves to strategize and develop and market a range of potential Puspiptek owned.

Abstrak :
[ABSTRAK
Dalam menghadapi perekonomian yang semakin global, Pemerintah menginginkan BUMN-BUMN memiliki daya saing. Untuk mewujudkan hal tersebut, upaya yang dilakukan Pemerintah adalah dengan mengeluarkan kebijakan yang mendorong terjadinya sinergi di antara BUMN, Anak Perusahaan BUMN, dan Perusahaan Terafiliasi BUMN. Kebijakan untuk mendorong terjadinya Sinergi BUMN tersebut, saat ini diterapkan oleh pemerintah melalui Peraturan Menteri BUMN Nomor: Per-15/MBU/2012. Sinergi yang dimaksud dalam peraturan tersebut pada dasarnya adalah dorongan untuk saling melakukan penunjukan langsung di antara BUMN, anak perusahaan dan perusahaan terafiliasinya. Terhadap hal tersebut, KPPU menilai Kebijakan Sinergi BUMN bertentangan dengan prinsip persaingan usaha yang utamanya tercermin dalam putusan dan saran atas perkara nomor 07/KPPU-I/2013.

Penelitian ini dilakukan untuk mengetahui bagaimana perspektif kebijakan dan ekonomi persaingan usaha terhadap Kebijakan Sinergi BUMN. Guna menjawab hal tersebut, penelitian ini akan melakukan analisis dengan menggunakan data kualitatif dan data kuantitatif dengan pembatasan studi pada industri jasa teknologi informasi. Data kualitatif dianalisis dengan menggunakan metode penelitian non-doctrinal legal research, sedangkan data kuantitatif dianalisis dengan cara melakukan perhitungan konsentrasi industri. Dari analisis kualitatif yang dilakukan, dapatlah disimpulkan bahwa secara material Kebijakan Sinergi BUMN memiliki beberapa kekurangan yang dapat berdampak terhadap kompetisi ataupun efisiensi. Kendati demikian, oleh karena secara legal formal Kebijakan Sinergi BUMN tetap dapat dilakukan maka diperlukan beberapa perbaikan dalam aturan pelaksanaannya sehingga Kebijakan Sinergi BUMN menjadi tidak berpotensi merugikan persaingan secara luas. Adapun dari pengolahan data kuantitatif yang dilakukan, dapat diketahui bahwa pada industri jasa teknologi informasi khususnya pasar data center services, Kebijakan Sinergi BUMN dapat berpotensi membatasi persaingan. Hal tersebut terlihat dari angka pertumbuhan kinerja pelaku usaha pesaing, meningkatnya penguasaan pasar dan rendahnya efisiensi Perusahaan Terafiliasi BUMN.

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ABSTRACT
In the face of an increasing global economy, Government wants State-Owned Enterprises (SOE) to be more competitive. In order to realize that goal, Government made an effort by issuing policies that foster synergy among SOEs, its Subsidiaries, and Affiliated Companies of the SOE. Currently, policy to encourage business synergy between SOEs is implemented by the Government through SOE?s Minister Regulations No. Per-15 / MBU / 2012. Synergy that stipulated in the minister regulations is basically to permit and encourage procurement with direct appointment method among SOEs, its subsidiaries, and Affiliated Companies of the SOE. On the contrary, the Antitrust Commission considers such kind of policy is against to the principles of competition. Such consideration was mainly reflected in the Commision verdicts and suggestion on case number 07 / KPPU-I / 2013.

This research was conducted to determine how the perspective of antitrust economic and policy towards synergy of the SOEs. To answer this, this research performed analysis using quantitative and qualitative data. Such data is limited to the information technology services industry. Qualitative data was analyzed by using non-doctrinal legal research method, while quantitative data was analyzed by calculating industry concentration. From the qualitative analysis carried out, it can be concluded that the SOE? Synergy Policy contains some risks that can influence competition and efficiency. However, because SOE? Synergy Policy still can be legally implemented, some policy-improvements are needed to ensure that implementation of the policy will not harm competition. From the quantitative data processed, it can be known that competition in information technology services industry in particular market of data center services is potentially damaged by the SOE? Synergy Policy. This is evident from the performance of the competitors as well as market share and efficiency of Affiliated Companies of the SOE.;In the face of an increasing global economy, Government wants State-Owned Enterprises (SOE) to be more competitive. In order to realize that goal, Government made an effort by issuing policies that foster synergy among SOEs, its Subsidiaries, and Affiliated Companies of the SOE. Currently, policy to encourage business synergy between SOEs is implemented by the Government through SOE?s Minister Regulations No. Per-15 / MBU / 2012. Synergy that stipulated in the minister regulations is basically to permit and encourage procurement with direct appointment method among SOEs, its subsidiaries, and Affiliated Companies of the SOE. On the contrary, the Antitrust-Commission considers such kind of policy is against to the principles of competition. Such consideration was mainly reflected in the Commision?s verdicts and suggestion on case number 07 / KPPU-I / 2013. This research was conducted to determine how the perspective of antitrust economic and policy towards synergy of the SOEs. To answer this, this research performed analysis using quantitative and qualitative data. Such data is limited to the information technology services industry. Qualitative data was analyzed by using non-doctrinal legal research method, while quantitative data was analyzed by calculating industry concentration. From the qualitative analysis carried out, it can be concluded that the SOE? Synergy Policy contains some risks that can influence competition and efficiency. However, because SOE? Synergy Policy still can be legally implemented, some policy-improvements are needed to ensure that implementation of the policy will not harm competition. From the quantitative data processed, it can be known that competition in information technology services industry in particular market of data center services is potentially damaged by the SOE? Synergy Policy. This is evident from the performance of the competitors as well as market share and efficiency of Affiliated Companies of the SOE.;In the face of an increasing global economy, Government wants State-Owned Enterprises (SOE) to be more competitive. In order to realize that goal, Government made an effort by issuing policies that foster synergy among SOEs, its Subsidiaries, and Affiliated Companies of the SOE. Currently, policy to encourage business synergy between SOEs is implemented by the Government through SOE?s Minister Regulations No. Per-15 / MBU / 2012. Synergy that stipulated in the minister regulations is basically to permit and encourage procurement with direct appointment method among SOEs, its subsidiaries, and Affiliated Companies of the SOE. On the contrary, the Antitrust-Commission considers such kind of policy is against to the principles of competition. Such consideration was mainly reflected in the Commision?s verdicts and suggestion on case number 07 / KPPU-I / 2013. This research was conducted to determine how the perspective of antitrust economic and policy towards synergy of the SOEs. To answer this, this research performed analysis using quantitative and qualitative data. Such data is limited to the information technology services industry. Qualitative data was analyzed by using non-doctrinal legal research method, while quantitative data was analyzed by calculating industry concentration. From the qualitative analysis carried out, it can be concluded that the SOE? Synergy Policy contains some risks that can influence competition and efficiency. However, because SOE? Synergy Policy still can be legally implemented, some policy-improvements are needed to ensure that implementation of the policy will not harm competition. From the quantitative data processed, it can be known that competition in information technology services industry in particular market of data center services is potentially damaged by the SOE? Synergy Policy. This is evident from the performance of the competitors as well as market share and efficiency of Affiliated Companies of the SOE.;In the face of an increasing global economy, Government wants State-Owned Enterprises (SOE) to be more competitive. In order to realize that goal, Government made an effort by issuing policies that foster synergy among SOEs, its Subsidiaries, and Affiliated Companies of the SOE. Currently, policy to encourage business synergy between SOEs is implemented by the Government through SOE?s Minister Regulations No. Per-15 / MBU / 2012. Synergy that stipulated in the minister regulations is basically to permit and encourage procurement with direct appointment method among SOEs, its subsidiaries, and Affiliated Companies of the SOE. On the contrary, the Antitrust-Commission considers such kind of policy is against to the principles of competition. Such consideration was mainly reflected in the Commision?s verdicts and suggestion on case number 07 / KPPU-I / 2013. This research was conducted to determine how the perspective of antitrust economic and policy towards synergy of the SOEs. To answer this, this research performed analysis using quantitative and qualitative data. Such data is limited to the information technology services industry. Qualitative data was analyzed by using non-doctrinal legal research method, while quantitative data was analyzed by calculating industry concentration. From the qualitative analysis carried out, it can be concluded that the SOE? Synergy Policy contains some risks that can influence competition and efficiency. However, because SOE? Synergy Policy still can be legally implemented, some policy-improvements are needed to ensure that implementation of the policy will not harm competition. From the quantitative data processed, it can be known that competition in information technology services industry in particular market of data center services is potentially damaged by the SOE? Synergy Policy. This is evident from the performance of the competitors as well as market share and efficiency of Affiliated Companies of the SOE., In the face of an increasing global economy, Government wants State-Owned Enterprises (SOE) to be more competitive. In order to realize that goal, Government made an effort by issuing policies that foster synergy among SOEs, its Subsidiaries, and Affiliated Companies of the SOE. Currently, policy to encourage business synergy between SOEs is implemented by the Government through SOE’s Minister Regulations No. Per-15 / MBU / 2012. Synergy that stipulated in the minister regulations is basically to permit and encourage procurement with direct appointment method among SOEs, its subsidiaries, and Affiliated Companies of the SOE. On the contrary, the Antitrust-Commission considers such kind of policy is against to the principles of competition. Such consideration was mainly reflected in the Commision’s verdicts and suggestion on case number 07 / KPPU-I / 2013. This research was conducted to determine how the perspective of antitrust economic and policy towards synergy of the SOEs. To answer this, this research performed analysis using quantitative and qualitative data. Such data is limited to the information technology services industry. Qualitative data was analyzed by using non-doctrinal legal research method, while quantitative data was analyzed by calculating industry concentration. From the qualitative analysis carried out, it can be concluded that the SOE’ Synergy Policy contains some risks that can influence competition and efficiency. However, because SOE’ Synergy Policy still can be legally implemented, some policy-improvements are needed to ensure that implementation of the policy will not harm competition. From the quantitative data processed, it can be known that competition in information technology services industry in particular market of data center services is potentially damaged by the SOE’ Synergy Policy. This is evident from the performance of the competitors as well as market share and efficiency of Affiliated Companies of the SOE.]

Abstrak :
Banyaknya penyalahguna narkotika yang ditempatkan di Lapas menjadi tantangan sendiri bagi Badan Narkotika Nasional (BNN) dengan Kementerian Hukum dan HAM (Kemenkumham) dalam memenuhi kebutuhan rehabilitasi bagi mereka. BNN sebagai leading sektor pelaksanaan P4GN dan Kemenkumham sebagai instansi pelaksana perlu bersinergi dalam upaya rehabilitasi penyalahguna narkotika di Lembaga Pemasyarakatan (Lapas) agar dapat menekan laju prevalensi penyalahgunaan narkotika nasional. Tujuan penelitian ini adalah untuk mengetahui bagaimana sinergi yang terjalin antara BNN dan Kemenkumham dalam upaya rehabilitasi narapidana narkotika di Lapas, dan bagaimana kendala sinergi dan penyelenggaraan layanan rehabilitasi di Lapas. Penelitian ini menggunakan metode kualitatif, teknik pengambilan data melalui wawancara, observasi, dan dokumentasi. Peneliti menggunakan sejumlah teori dan konsep dalam penelitian ini, yaitu teori sinergi, konsep pemasyarakatan, dan rehabilitasi. Hasil dari penelitian ini ditemukan bahwa sinergi antara BNN dengan Kemenkumham dalam upaya rehabilitasi narkotika di Lapas sudah terjalin sejak lama, namun bersifat dinamis. Adapun faktor yang mempengaruhi sinergi tersebut adalah anggaran, kebijakan pimpinan, dan kebijakan pemerintah. Pada awalnya BNN dan Kemenkumham bekerja sama menginisiasi program rehabilitasi di Lapas namun sejak BNN menghentikan dukungan anggaran ke Lapas, Kemenkumham berinisiatif melanjutkan program tersebut dengan menggunakan anggaran sendiri. Sinergi masih banyak bersifat prosedural dan administratif namun terbatas dalam hal implementasinya sehingga dibutuhkan kebijakan yang mengakomodasi sinergi tersebut, dukungan anggaran, sarana prasarana, peningkatan kemampuan petugas rehabilitasi, supervisi, monitor dan evaluasi yang dapat mengoptimalkan penyelenggaraan rehabilitasi narkotika di Lapas. ......The large number of narcotics abusers placed in prisons is a challenge for the National Narcotics Agency (BNN) and the Ministry of Law and Human Rights (Kemenkumham) in meeting their rehabilitation needs. BNN as the leading sector in the implementation of P4GN and the Ministry of Law and Human Rights as the implementing agency need to synergize in efforts to rehabilitate narcotics abusers in prisons to reduce the prevalence of narcotics abuse nationwide. The purpose of this study was to find out the synergy that exists between BNN and the Ministry of Law and Human Rights in the rehabilitation of narcotics prisoners in prisons, the obstacles to synergy and the implementation of rehabilitation services in prisons. This study uses qualitative methods, data collection techniques through interviews, observation, and documentation. Researchers used several theories and concepts in this study, namely the theory of synergy, the concept of correctional, and rehabilitation. The results of this study found that the synergy between BNN and the Ministry of Law and Human Rights in narcotics rehabilitation efforts in prisons has existed for a long time, but the policies are dynamic. The factors that influence the synergy are the budget, leadership policies, and government policies. At first BNN and Kemenkumham worked together to initiate rehabilitation in prisons, but since BNN stopped budget support to prisons, Kemenkumham has taken the initiative to continue the program with its own budget. Synergies are still mostly procedural and administrative in nature but limited in terms of implementation. Policies needed to accommodate these synergies are budget support, infrastructure, capacity building for rehabilitation officers, supervision, monitoring and evaluation that can optimize the implementation of rehabilitation in prisons.

Abstrak :
Tesis ini membantu pengambil kebijakan di Departemen Tenaga Kerja dan Transmigrasi R.I. dalam menentukan strategi yang tepat untuk melakukan Revitalisasi BLK UPTD di Era Otonomi Daerah dengan menggunakan pendekatan Analytical Hierachy Process (AHP). Penelitian ini adalah penelitian kuantitatif dengan desain deskriptif. Hasil penelitian menyarankan bahwa pensinergian UU Nomor 32 tahun 2004 tentang Pemerintahan daerah dengan UU Nomor 13 tahun 2003 tentang Ketenagakerjaan perlu segera dilaksanakan agar BLK UPTD memiliki legitimasi dan regulasi yang jelas dalam upaya menseragamkan pola manajemennya dengan BLK UPTP sehingga Revitalisasi BLK UPTD dapat berjalan dengan cepat dan akurat. ......This Thesis helps policy maker in the Department of Manpower and Transmigration to decide the correct strategy to do revitalization of BLK UPTD in the Regional Autonomy Era by using the Analytical Hierarchy Process (AHP). This Research is a quantitative research with descriptive design. The result of this research suggest that the synergy between Law 32 year 2004 conceming the Regional Government and Law 13 year 2003 conceming Manpower need to be done immediately so that the BLK UPTD has a clear legitimating and regulation in order to synchronize the management pattem with the BLK UPTD so that the revitalization of BLK UPTD can be done immediately and accurately.

Abstrak :
ABSTRAK
Negara Kesatuan Republik Indonesia yang secara konstitusional dan secara politik telah diterima sebagai bentuk final sistem keanekaraman Indonesia. Namun demikian, dalam praksis kehidupan bermasyarakat, berbangsa dan bernegara di Indonesia selalu djumpai fenomena sosiologik dan politik yang mencerminkan terjadinya paradoks antara semangat dan komitmen kolektif bernegara kesatuan Republik Indonesia dengan kasus-kasus etnosentrisme, fanatisme kelompok, kedaerahan seperti sukuisme, kolusi, nepotisme, dan putra daerahisme dalam kehidupan bermasyarakat, berbangsa, dan bernegara. Implementasinya dalam kehidupan bermasyarakat, berbangsa, dan bernegara, merupakan hal yang sangat fundamental bagi terbentuknya jiwa dan nasionalisme bangsa guna tetap tegak-kokohnya Negara Kesatuan Republik Indonesia. Tantangan utama dari program yang didesain untuk membantu individu mengelola konflik adalah bahwa referensi budaya dan identitas mereka secara sosiologis dan psikologis berbeda dengan pihak yang berkonflik dengan mereka. Dinamika tugas Polri sebagai institusi yang berkewajiban menjaga keamanan dan ketertiban masyarakat menjadi semakin kompleks dengan adanya tantangan tersebut.

Abstrak :
Dalam menghadapi perekonomian yang semakin global, Pemerintah menginginkan BUMN-BUMN memiliki daya saing. Untuk mewujudkan hal tersebut, upaya yang dilakukan Pemerintah adalah dengan mengeluarkan kebijakan yang mendorong terjadinya sinergi di antara BUMN, Anak Perusahaan BUMN, dan Perusahaan Terafiliasi BUMN. Kebijakan untuk mendorong terjadinya Sinergi BUMN tersebut, saat ini diterapkan oleh pemerintah melalui Peraturan Menteri BUMN Nomor: Per-15/MBU/2012. Sinergi yang dimaksud dalam peraturan tersebut pada dasarnya adalah dorongan untuk saling melakukan penunjukan langsung di antara BUMN, anak perusahaan dan perusahaan terafiliasinya. Terhadap hal tersebut, KPPU menilai Kebijakan Sinergi BUMN bertentangan dengan prinsip persaingan usaha yang utamanya tercermin dalam putusan dan saran atas perkara nomor 07/KPPU-I/2013. Penelitian ini dilakukan untuk mengetahui bagaimana perspektif kebijakan dan ekonomi persaingan usaha terhadap Kebijakan Sinergi BUMN. Guna menjawab hal tersebut, penelitian ini akan melakukan analisis dengan menggunakan data kualitatif dan data kuantitatif dengan pembatasan studi pada industri jasa teknologi informasi. Data kualitatif dianalisis dengan menggunakan metode penelitian non-doctrinal legal research, sedangkan data kuantitatif dianalisis dengan cara melakukan perhitungan konsentrasi industri. Dari analisis kualitatif yang dilakukan, dapatlah disimpulkan bahwa secara material Kebijakan Sinergi BUMN memiliki beberapa kekurangan yang dapat berdampak terhadap kompetisi ataupun efisiensi. Kendati demikian, oleh karena secara legal formal Kebijakan Sinergi BUMN tetap dapat dilakukan maka diperlukan beberapa perbaikan dalam aturan pelaksanaannya sehingga Kebijakan Sinergi BUMN menjadi tidak berpotensi merugikan persaingan secara luas. Adapun dari pengolahan data kuantitatif yang dilakukan, dapat diketahui bahwa pada industri jasa teknologi informasi khususnya pasar data center services, Kebijakan Sinergi BUMN dapat berpotensi membatasi persaingan. Hal tersebut terlihat dari angka pertumbuhan kinerja pelaku usaha pesaing, meningkatnya penguasaan pasar dan rendahnya efisiensi Perusahaan Terafiliasi BUMN.

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In the face of an increasing global economy, Government wants State-Owned Enterprises (SOE) to be more competitive. In order to realize that goal, Government made an effort by issuing policies that foster synergy among SOEs, its Subsidiaries, and Affiliated Companies of the SOE. Currently, policy to encourage business synergy between SOEs is implemented by the Government through SOE?s Minister Regulations No. Per-15 / MBU / 2012. Synergy that stipulated in the minister regulations is basically to permit and encourage procurement with direct appointment method among SOEs, its subsidiaries, and Affiliated Companies of the SOE. On the contrary, the Antitrust-Commission considers such kind of policy is against to the principles of competition. Such consideration was mainly reflected in the Commision?s verdicts and suggestion on case number 07 / KPPU-I / 2013. This research was conducted to determine how the perspective of antitrust economic and policy towards synergy of the SOEs. To answer this, this research performed analysis using quantitative and qualitative data. Such data is limited to the information technology services industry. Qualitative data was analyzed by using non-doctrinal legal research method, while quantitative data was analyzed by calculating industry concentration. From the qualitative analysis carried out, it can be concluded that the SOE? Synergy Policy contains some risks that can influence competition and efficiency. However, because SOE? Synergy Policy still can be legally implemented, some policy-improvements are needed to ensure that implementation of the policy will not harm competition. From the quantitative data processed, it can be known that competition in information technology services industry in particular market of data center services is potentially damaged by the SOE? Synergy Policy. This is evident from the performance of the competitors as well as market share and efficiency of Affiliated Companies of the SOE.

Abstrak :
ABSTRACT
Penelitian ini dilakukan untuk mengetahui pengaruh aktivitas merger dan akuisisi terhadap kinerja keuangan perusahaan yang diproksikan dengan rasio keuangan seperti, return on asset, return on equity, dan operation profit margin. Selain itu juga untuk memberikan bukti mengenai perbandingan kinerja perusahaan untuk setiap jenis merger atau akuisisi. Sampel yang digunakan dalam penelitian ini meliputi 3 perusahaan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2010¬2012. Penelitian ini menggunakan pengujian hipotesis Paired Simpel T-test dan uji R-squared serta uji asumsi klasik seperti uji heteroskedesitas dan mulikolinearitas. Kinerja tersebut diukur dengan membandingkan rasio keuangan perusahaan lima tahun sebelum dan lima tahun setelah merger dan akuisisi. Masil penelitian menunjukkan bahwa aktivitas merger dan akuisisi tidak menghasilkan sinergi bagi perusahaan, serta dapat disimpulkan bahwa hasil merger dan akuisisi tidak memiliki perbedaan yang signifikan.

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ABSTRACT
This research aims to examine the effect of merger and acquisition activity on operational and market performance of the firms which can be measured using financial ratios, such as, return on equity, return on asset and operating profit margin. Moreover, to give evidence about firms performance comparison among the type of merger and acquisition. Sample of this research consists of 3 firms at the Indonesian Stock Exchange from 2010-2012. This research using paired sample t-test, and R-squared. The synergy is measured by examining some pre- and post-merger and acquisition financial ratios (five years before and five years after). The results showed that merger and acquisition didn't provide synergy for the firms. The results also leading to a conclusion that merger.

Abstrak :
Penelitian ini dilakukan untuk mengetahui pengaruh aktivitas merger dan akuisisi terhadap kinerja operasional dan kinerja pasar perusahaan yang diproksikan oleh rasio-rasio keuangan seperti current ratio, total asset turnover, debt equity ratio, net profit margin, return on equity, return on asset, dan tobin?s q ratio. Selain itu juga untuk memberikan bukti mengenai perbandingan kinerja perusahaan untuk setiap jenis merger atau akuisisi. Sampel yang digunakan dalam penelitian ini meliputi 30 perusahaan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2000- 2008. Penelitian ini menggunakan pengujian hipotesis uji t sampel berpasangan, uji t sampel independen, dan uji wilcoxon. Sinergi diukur dengan membandingkan rasio keuangan perusahaan tiga tahun sebelum dan tiga tahun setelah merger dan akuisisi. Hasil penelitian menunjukkan bahwa aktivitas merger dan akuisisi tidak menghasilkan sinergi bagi perusahaan dan dari semua rasio keuangan hanya debt equity ratio yang mengalami penurunan signifikan, serta dapat disimpulkan bahwa hasil merger dan akuisisi semuanya sama bagi semua jenis merger dan akuisisi. ...... This research aims to examine the effect of merger and acquisition activity on operational and market performance of the firms which can be measured using financial ratios, such as current ratio, total asset turnover, debt equity ratio, net profit margin, return on equity, return on asset, and tobin?s q ratio. Moreover, to give evidence about firm?s performance comparison among the type of merger and acquisition. Sample of this research consists of 30 firms at the Indonesian Stock Exchange from 2000-2008. This research using paired sample t-test, independent sample t-test, and wilcoxon test. The synergy is measured by examining some pre- and post-merger and acquisition financial ratios (three years before and three years after). The results showed that merger and acquisition didn?t provide synergy for the firms and only debt equity ratio showed a significant decline of all financial ratios. The results also leading to a conclusion that merger and acquisition outcomes were similar for all merger and acquisition types.