FINANCIAL PERFORMANCE MEASUREMENT OF STATE-OWNED ENTERPRISES UNDER AVIATION TO SUPPORT VISIT WONDERFUL 2018 IN INDONESIA

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Daryanto, Wiwiek Mardawiyah (2018) FINANCIAL PERFORMANCE MEASUREMENT OF STATE-OWNED ENTERPRISES UNDER AVIATION TO SUPPORT VISIT WONDERFUL 2018 IN INDONESIA. International Journal of Business, Economics and Law, 16 (1). pp. 25-39. ISSN 2289-1552

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Abstract

Visit Wonderful Indonesia (VIWI) 2018 is currently one of the main concerns of the government, with a target of 17 million of foreign tourists by 2018 to18 destinations across Indonesia. This situation requires an excellent performance of State-Owned Enterprises (SOEs) under aviation, which is ruled by the Ministry of Transportation. This study aims to analyze and measure the financial health conditions of the two SOEs under aviation i.e PT Angkasa Pura I (AP I) and PT Angkasa Pura II (AP II) in 2011-2015. The Decree No.KEP-100/MBU/2002 of Indonesia Ministry of SOEs on June 2002 provides the mandatory of measuring and rating the financial health condition of SOEs. The results of eight financial ratios investigating; 1) return on equity, 2) return on investment, 3) cash ratio, 4) current ratio, 5) collection period, 6) inventory turnover, 7) total asset turnover, 8) total equity to total asset, then be validated by the said Ministry of SOEs Decree to conclude the yearly financial health conditions of each SOEs. The result shows that in 2011 - 2015, both SOEs achieved financial healthy condition levels, although AP II was better performance than AP I as shown in the rating as follows; AP I (BBB, BBB, BBB, A, and A); and AP II (AA, AA, A, A, and A). However, AP I was successfully achieve the highest levels in 2014 and 2015, from B to A levels. This study has added the knowledge in the financial literature. It also gives a strong insight for managers in aviation industry about the financial performance. Therefore, the managers could make decisions to increase both market share and profitability. Keywords: financial performance, financial ratios, SOEs, VIWI, aviation

Item Type:	Article
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HE Transportation and Communications H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance
Divisions:	Research And Community Empowerment > Journals
Depositing User:	Rizky Amalia
Date Deposited:	17 Jan 2020 10:51
Last Modified:	22 Dec 2021 04:11
URI:	http://repository.ipmi.ac.id/id/eprint/428

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