Financial Performance and Health Assessment Analysis and Measurement of State Owned Enterprise (SOE) Construction Companies Listed in Indonesia Stock Exchange Before and After the Government of Indonesia Infrastruct Development BOOM In 2014/2015

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Helmi, Ahmad and Daryanto, Wiwiek Mardawiyah (2020) Financial Performance and Health Assessment Analysis and Measurement of State Owned Enterprise (SOE) Construction Companies Listed in Indonesia Stock Exchange Before and After the Government of Indonesia Infrastruct Development BOOM In 2014/2015. International Journal of Business, Economics and Law, 21 (2). pp. 1-18. ISSN 2289-1552

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Abstract

Decades of under-investment, lack of infrastructure development and combined with poor asset management conditions left Indonesia with a significant infrastructure deficit conditions. Late 2014, the elected President Joko Widodo tried to solve the issue and improved the competitiveness level of the Indonesian economy by focusing its effort on infrastructure development. These massive infrastructure development decisions taken by the Government of Indonesia (GoI), means opportunities for companies engaged within the construction sector, especially for construction companies with State-owned Enterprises (SOE) status. The GoI decisions appointing SOE construction companies as the main contractors and developers of the GoI key infrastructure projects means automatic revenue growth for the companies. In contrary, based on the January 2015 and January 2020 stock price data of SOE Construction Company listed in Indonesian Stock Exchange (IDX), all four (4) SOE construction companies stock price declined by 45.37% on average. On the contrary, within the same period, the Jakarta Composite Index (IHSG) increased by 20.35%. This research aimed to measure and analyze the financial performance and the health assessment of the SOE construction companies before the infrastructure development boom era (2011-2014 period) and after the infrastructure development boom era (2015-2018 period). Eight (8) financial ratio measurements, as per the Ministry of SOE Decree No. KEP-100/MBU/2002 (Decree), were used to analyze the financial performance and health assessment of SOE Construction Company. And, to see how significance the differences were, Paired t-test was used to measure the significant differences before and after the infrastructure development boom. It was found out that the financial performance and health assessment of SOE construction companies were declined and there were significant differences before and after the infrastructure development boom era.

Item Type: Article
Subjects: H Social Sciences > HG Finance
Divisions: Research And Community Empowerment > Journals
Depositing User: Dr. Wiwiek Mardawiyah Daryanto
Date Deposited: 17 Nov 2020 02:44
Last Modified: 21 Dec 2021 06:22
URI: http://repository.ipmi.ac.id/id/eprint/936

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