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All Journal Journal of Economics and Management Scienties
Ilham Pakawaru
Universitas Tadulako
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Library & Information Science Social Sciences

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Analisis Dampak ESOP Terhadap Kinerja Keuangan dan Produktivitas Karyawan PT BRI di BEI 2020-2024 Ramlah Ramlah; Sugianto Sugianto; Fikry Karim; Ilham Pakawaru
Journal of Economics and Management Scienties Volume 8 No. 3, June 2026
Publisher : SAFE-Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37034/jems.v8i3.469

Abstract

This study analyzes the impact of the Employee Stock Ownership Plan (ESOP) on the financial performance and employee productivity of PT Bank Rakyat Indonesia (Persero) Tbk during the 2020–2024 period, employing a descriptive quantitative approach. Financial performance was measured via Return on Assets (ROA) and Return on Equity (ROE), while productivity was measured using operating income per employee. Analytical methods included descriptive statistics, a one-sample t-test, simple linear regression, and Pearson correlation analysis. Statistical results indicate that: (1) ROA and ROE did not differ significantly from national banking industry benchmarks (t-ROA=1.094, p=0.335; t-ROE=1.543, p=0.198; p>0.05), indicating financial performance stability; (2) the employee productivity trend showed a significant increase (β=73.644; R²=0.787; p=0.045), with a Pearson correlation of r=0.887 (p=0.045) and absolute growth of 96.90%-rising from IDR 334.12 million (2020) to IDR 658.02 million per employee (2024). These findings confirm hypotheses H1 and H2, support Agency Theory and Human Capital Theory, and imply that the ESOP serves as a strategic mechanism for corporate governance and human capital development in the post-pandemic recovery era.
Co-Authors Fikry Karim Ramlah Ramlah Sugianto Sugianto