ANALYSIS OF ENTERPRISE FINANCIAL PERFORMANCE BEFORE AND AFTER TO BUILD OF STATE OWNED ENTERPRISES (SOEs) HOLDING IN THE AFFILIATION OF THE HOLDING MINING INDUSTRY INDONESIA

Rahma Wiyanti, Rosita Wulandari

Abstract


SOEs restructuring withholding policies is expected to strengthen the financial, efficiency and potential development of SOEs. The government formed a mining holding company consisting of PT. Bukit Asam, Tbk; PT. Timah, Tbk; PT. Aneka Tambang, Tbk., PT. Indonesia Asahan Alumunium , Tbk and PT. Freeport Indonesia. However, PT. Freeport Indonesia did not become a sample in the study because it was not listed on the IDX. PT. Indonesia Asahan Alumunium was appointed as the Mining Industry Holding which changed the name to Mining Industry Indonesia (MIND ID), is expected to achieve the restructuring goal. Achievement of restructuring objectives can be measured by assessing the financial performance of the company each period and comparing the period before the formation of the holding with after the formation of the holding. Financial Performance is measured by financial ratios (Liquidity, Leverage and Profitability). Testing with the One-Sample T-Test Hypothesis Test results in financial ratios that have increased certain periods compared to the previous period is Leverage ratios (DER and ICR), Liquidity Ratios (CR, QR and Cash Ratio) and profitability ratios (PM). However, the Paired sample T-Test by comparing the financial performance before and after the formation of a SOEs holding turned out to show the results of no significant changes.


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References


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