Evaluasi kinerja keuangan perusahaan pulp dan kertas indonesia

Syahran, Rinaldi (2016) Evaluasi kinerja keuangan perusahaan pulp dan kertas indonesia. Masters thesis, Institut Pertanian Bogor.

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Abstract

The Indonesian government made the pulp and paper industry as a strategic sector in 2013. Determination of pulp and paper industry as a strategic sector is a sign that the Indonesian government is serious about developing this industry. They are serious in developing existing companies in this industry. In the same year, producer margins for pulp and paper products in the Asian market is low. However, there are still four of the seven companies that recorded net income. There are three companies that loss in 2013. Two of the four companies that recorded net profit recorded a decrease in net profit from 2012 to 2013. One company was not recorded a decline in net profit recorded an operating loss. One other company recorded net income and profit, has a small net profit. Based on that reason, the Indonesian pulp and paper companies need evaluated its performance. This study aimed to evaluate the financial performance of pulp and paper company in Indonesia. Financial ratios and economic value added that derived from financial statement data are used as the research method. Excel Software is used to input raw data and process them. There are seven Indonesian pulp and paper companies based on data for the study from 2009 to 2013. However, only 6 were taken as an example by the completeness of the data in the study from 2009 to 2013. The six companies were used as an example are Fajar Surya Wisesa, Indah Kiat Pulp & Paper, Toba Pulp Lestari, Indonesia Kertas Basuki Rahmat, Suparma and Paper Factory Tjiwi Kimia. Alkindo Naratama is a company that is not used in this study. The six companies are investigated based on financial ratios and economic value added. The result is Pabrik Kertas Tjiwi Kimia has the most satisfactory liquidity during the 2009-2013 period. The reason is the value of the company's liquidity ratio is the most satisfying among other companies. Pabrik Kertas Tjiwi Kimia have satisfactory profitability performance during the 2009-2013 period. The reason is profitability of Pabrik Kertas Tjiwi Kimia meet the criteria for 5 years. Pabrik Kertas Tjiwi Kimia have satisfactory solvency during the 2009-2013 period. The reason is profitability Pabrik Kertas Tjiwi Kimia meet the criteria for 5 years. The financial performance of the entire pulp and paper company based on financial ratios still unsatisfactory. The financial performance of pulp and paper company based on economic value added also unsatisfactory during the 2009-2013 period. Financial performance of pulp and paper are unsatisfactory based on financial ratios and economic value added produce recommendations for the each companies. This is so that each company can improve its financial performance. Inventories were reduced, raising cash, and also reducing current debt is a recommendation to increase the company's liquidity. The company's profitability improved through the creation and growth in net profit. Solvency increased by raising the total debt and also reduce the use of debt to buy assets. Economic value added increased by increasing profits and reducing costs.

Item Type: Thesis (Masters)
Additional Information: 21(50)Sya e
Uncontrolled Keywords: Kinerja Keuangan, Rasio Keuangan, Economic value added,Financial Performance, Financial Ratio, Economic value added.
Subjects: Manajemen Keuangan
Depositing User: SB-IPB Library
Date Deposited: 02 Feb 2017 02:24
Last Modified: 29 Oct 2019 03:21
URI: http://repository.sb.ipb.ac.id/id/eprint/2804

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