Pengaruh privatisasi melalui Initial Public Offering terhadap efisiensi dan kinerja kesehatan keuangan BUMN (studi kasus BUMN konstruksi)

Harahap, Mahruddin (2021) Pengaruh privatisasi melalui Initial Public Offering terhadap efisiensi dan kinerja kesehatan keuangan BUMN (studi kasus BUMN konstruksi). Masters thesis, IPB University.

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One of the business sectors of BUMN that conducts privatization is construction. There are a number of BUMNs engaged in the construction sector in Indonesia. Among the SOEs, there are 4 SOEs that have privatized, namely PT Adhi Karya (Persero) Tbk, PT Wijaya Karya (Persero) Tbk, PT Pembangunan Perumahan (Persero) Tbk and PT Waskita Karya (Persero) Tbk. The four companies privatized through Initial Public Offering (IPO). On average there was a significant increase in all indicators after each of the Construction SOEs conducted privatization. Improvement of SOE financial indicators after privatization is one of the objectives of privatization. However, with the positive increase in performance indicators, it is necessary to re-evaluate in depth whether it has an impact on improving the performance of the financial health and efficiency of the BUMN. Based on the foregoing, this study aims to analyze the performance of financial health before and after privatization, measure efficiency before and after privatization, and analyze and efficiency before and after privatization then analyze the factors that affect the level of efficiency. Based on the results of the study through a statistical approach, the first conclusion is that on average there are no significant differences between the financial health performance conditions of BUMN Construction before and after privatization. The second conclusion obtained is that all BUMN Construction are relatively more efficient before privatization than after privatization. The third conclusion is found that of the variables tested, there are 3 factors that influence the efficiency of construction SOEs, namely total assset, economic growth and interest rates.

Item Type: Thesis (Masters)
Uncontrolled Keywords: efisiensi, kinerja kesehatan keuangan, privatisasi, Data Envelopment Analysis, DEA efficiency, financial health performance, privatization.
Subjects: Manajemen Keuangan
Depositing User: SB-IPB Library
Date Deposited: 25 Mar 2022 08:18
Last Modified: 25 Mar 2022 08:18

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