The Role of the Capital Market in Defense Industry Funding from the Perspective of Benefit and Risk Analysis

Cucun Cunayah; Sri Sundari; Suwito

doi:10.55927/ijba.v5i1.13706

Authors

Cucun Cunayah Universitas Pertahanan Republik Indonesia
Sri Sundari Universitas Pertahanan Republik Indonesia
Suwito Universitas Pertahanan Republik Indonesia

DOI:

https://doi.org/10.55927/ijba.v5i1.13706

Keywords:

Defense Industry, Capital Market, Benefit Analysis, Funding Risk

Abstract

The defense industry requires significant funding to achieve self-sufficiency and reducing reliance on imported defense equipment. This research aims to analyze the benefits and risks if the government considers the option of funding the state-owned defense industry through the capital market. This alternative has been successfully implemented in several countries. This research employs qualitative methods by collecting secondary data obtained through a literature study, including journal articles, books, and research-related sources. The techniques used include data collection, data reduction, data presentation, data analysis, and drawing conclusions. The research results indicate that funding through the capital market offers multiple benefits but also poses potential risks that must be mitigated through a series of appropriate policies to safeguard the country's strategic interests.

Downloads

Download data is not yet available.

References

Manurung, A. H. (2010). Kaya dari Bermain Saham, Pandua Jitu Investasi di Lantai Bursa. PT. Kompas Media Nusantara.

Afrihan, M. D., Sanny, L., Setiadi, N. J., & Gunadi, W. (2024). Minimum Essential Force (MEF) Strategy: A Systematic Literature Review in the Context of Globalization. KnE Social Sciences, 158–171. https://doi.org/10.18502/kss.v9i32.17434

Ferdianto, A. (2024, August 19). Anggaran Kemenhan Paling Jumbo Tembus Rp 165,2 Triliun di 2025, Ini Kata Pengamat. https://nasional.kontan.co.id/news/anggaran-kemenhan-paling-jumbo-capai-rp-1652-triliun-2025-ini-kata-pengamat

Aryati, D., Ningsih, N., Halkis, M., Susanto, R., Studi, P., Asimetris, P., Pertahanan, S., Pertahanan, U., & Indonesia, R. (2024). Pertimbangan Etika Dalam Pengembangan Teknologi Militer: Tinjauan Filsafat Ilmu Pertahanan. Jurnal Kewarganegaraan, 8(1).

Corporatewatch.org. (2015, June 15). BAE Systems Company Profile. https://corporatewatch.org/bae-systems-company-profile/

Fakhruddin. (2013). Go Public. Elex Media Komputindo.

gopublic.idx.co.id. (n.d.). Persyaratan IPO. Retrieved December 21, 2024, from https://gopublic.idx.co.id/how-to-ipo/

Haill, O. (2021, August 4). MPs Call for Government to Expand “Golden Share” Scheme for UK Defence Sector. https://www.proactiveinvestors.co.uk/companies/news/956842/mps-call-for-government-to-expand--golden-share--scheme-for-uk-defence-sector-956842.html

Hanafi, & Soediantono, D. (2022). Kajian Literatur Hubungan Penerapan Sistem Manajemen Mutu ISO 9001:2015 Dengan Kinerja operasional dan Organization’s Performance Pada Industri Pertahanan. Journal of Industrial Engineering & Management Research, 3(4), 32–40. https://doi.org/10.7777/jiemar.v2i3

id.investing.com. (2024, December 23). Lockheed Martin Corporation (LMT). https://id.investing.com/equities/lockheed-martin

indonesiadefense.com. (2024, March 21). Pengamat Sarankan 4 Strategi untuk Pemerintahan Prabowo Terkait Masalah Keamanan di Kawasan. https://indonesiadefense.com/pengamat-sarankan-4-strategi-untuk-pemerintahan-prabowo-terkait-masalah-keamanan-di-kawasan/

Irfan, M., Nidar, S. R., Azis, Y., & Widianto, S. (2023). Self-reliant in defense industries: Case study Indonesia. Cogent Business and Management, 10(3). https://doi.org/10.1080/23311975.2023.2262715

Irwanto, H. Y., Mariani, L., & Sarjito, A. (2022). Evaluasi Industri Pertahanan dalam rangka Kemandirian Alutsista dengan Bercemin pada Industri Pertahanan Negara Maju.

Jaja Suteja. (2015). Kajian Struktur Kepemilikan Perusahaan Terbuka di Indonesia. Universitas Pasundan.

londonstockexchange.com. (2024, December 23). BAE System PLC. https://www.londonstockexchange.com/stock/BA./bae-systems-plc/company-page

Mohamad, O. :, Nurulloh, I., Simbolon, L., & Deksino, G. R. (2022). Membangun Akuntabilitas Industri Pertahanan Indonesia.

Mustofa, A., & Cahyono, H. (2014). Analisis Kontribusi Pasar Modal sebagai Sarana Pendanaan Usaha bagi Perusahaan serta Multiplier Effect yang ditimbulkannya dalam Perekonomian.

Oemry, A. F. (2021). Analisis Yuridis Alih Teknologi Dalam Pengadaan Alutsista Sebagai Upaya Revitalisasi Industri Pertahanan Nasional (Vol. 2, Issue 2). http://jurnal.bundamediagrup.co.id/index.php/iuris

Putri, J. (2016). Pengaruh Struktur Modal Terhadap Nilai Perusahaan pada Perusahaan Manufaktur Go Publik (Studi Kasus Sektor Makanan dan Minuman). In JOM FISIP (Vol. 3, Issue 2).

Rahman, G. P., & Triadi, I. (2023). Peran Hak Kekayaan Intelektual Pada Industri Pertahanan Di Indonesia. Jurnal Ilmu Sosial Dan Humaniora, 3(3), 1–8.

Sarjito, A. (2023). Evaluasi Dampak Penanaman Modal Asing Terhadap Industri Pertahanan Indonesia. Bisnis Dan Industri (EBI), 05(02), 1–10. http://jurnal.cic.ac.id/1|

Stojkov, B. (2024, April 1). 10 Biggest Military Companies in the World (2024). https://finbold.com/guide/10-biggest-military-companies-in-the-world/

Susdarwono, E. T. (2020). Pokok-Pokok Pikiran Mengenai Pembangunan Kemandirian Industri Pertahanan Indonesia dalam Undang-Undang Nomor 16 Tahun 2012 tentang Industri Pertahanan. In Jurnal Ius Constituendum | (Vol. 5).

Susdarwono, E. T., Setiawan, A., & Husna, Y. N. (2020). Kebijakan Negara terkait Perkembangan dan Revitalisasi Industri Pertahanan Indonesia dari Masa ke Masa. In Jurnal USM Law Review (Vol. 3).

wikipedia. (n.d.). Perusahaan Terbuka. Retrieved December 12, 2024, from https://id.wikipedia.org/wiki/Perusahaan_terbuka

Yudho Wibowo, S., Lestari, A., & Nugroho, H. (2022). Model Pendanaan Industri Pertahanan di Indonesia. Journal of Industrial Engineering & Management Research, 3(6), 28–33. https://doi.org/10.7777/jiemar