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Transformasi Kinerja Keuangan BUMN Pasca-Danantara: Pendekatan DuPont Analysis Kurnia Kurnia; Sahabuddin Nanda; Wa Ode Rayyani
Jurnal Maksipreneur Vol 15 No 2 (2026)
Publisher : Universitas Proklamasi 45

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30588/jmp.v15i2.2593

Abstract

The formation of Danantara is a strategy to transform SOE governance through investment consolidation. This research analyzes changes in the financial performance of nine banking and non-banking SOEs before and after Danantara's integration using the DuPont analysis. The results indicate that Return on Equity (ROE) in both sectors experienced a short-term decline due to transition costs and structural adjustments. ROE patterns differed across sectors, with the banking sector relying more on asset efficiency, while the non-banking sector was influenced by interest expense management and operating margins. These findings suggest that Danantara's impact is sectoral, so performance evaluation and synergy-strengthening strategies need to be adapted to the characteristics of each SOE business.
Co-Authors Abbas, Ahmad Abdi, Muhammad Nur Abdul Thalib Ade Trianna Agus Prasetyo Ahmad Abbas Ahmad Abbas Alamsjah SE Alamsjah, Alamsjah Amelia Rezki Septiani Amin Amin, Amelia Rezki Septian Ananda Fajarwati Andayaningsih, Sri Andi Rasdiyanti Andi Rustam Arif, Muhammad Faisal Arizah, Ainun Arjuna Sam, Rifki Arman, Andi Asri Jaya Awanda Lestari Buia Ayaz, Mohammad Azzahra , Wa Ode Nayla Fatimah Basri Basir Beloan, Bertha Burhanuddin Burhanuddin Cisilia Doodoh Da'a, Fitrianti Darwis Said, Darwis Dian Anggraini Dyastiarini, Astri Edi Prayogo Endang Winarsi Evi Nurul Husna Farman, Safril Fauda, Nurul Febrianggi, Ayu Firman syah Fuada, Nurul Haerani Haeranti Syam Hanafi, Kartini Handayani, Fany Arista Hannani Herdiana Herdiana Herman Callo Hernita Arifuddin Hesti Pratiwi Hidayat, Julia Husna, Evi Nurul I Wayan Sujana Idrawahyuni Idrawahyuni Idrawahyuni, Idrawahyuni Ihsanul, Muhammad Ilham Akbar Wafir Inar Andriani Ismail Badollahi Ismail Rasulong Jumiati Jumiati Khaerullah Khairunna Istiqamah Halim Khusnul Khatima Asrul Kurnia Kurnia Laras Lestari Lestari, Nurma Linda Arisanty Razak Linda Arisanty Razak Linda Razak Maha Radwan Mairi, Marsya Utani Mande, Henni Mardinatul Munawwara Marshanda Sultan Masud, Anis Anshari Mediaty Mira Mira Mohamad Ilham Mohammad Ayaz Muchran, Muchriady Muh. Alamsyah Perdana Putra Muh. Syarif Ahmad Muhaimin Muhaimin Muhaimin Muhaimin Muhammad Adil, Muhammad Muhammad Arjun Muhammad Nur Abdi Mutia Sirwaty mutiara mutiara Nabila Hidayani Nadhirah Nagu Nadiya Nur Fadilla Neks Triani Nur Lisal Nur Rezki Amalia Nur Sriani Nur'Izzah Amaliah Yusuf Nurafni Ansar Nuraini Nuraini Nuranisa Al Azighah Nurhalija, Nurhalija Nurhikmah SR Nurinaya, Nurinaya Nurlina Nurlina Nurul Iqza Nurul Nadya Nurwazaila, Nurwazaila Pasigai, Moh. Aris Pratiwi, Hesti Radwan, Maha Ramadana Ratna Ayu Damayanti Ratna Marta Dhewi Razak, Linda Arisanty Rini Purnamasari Risma Risma Rustam, Andi Sahabuddin Nanda Sahrullah Sahrullah Sahrulllah, Sahrulllah Salam, Silviana Salwa Khaerunniza Samsinar Samsinar Sarfiah, Sarfiah Satriani , Nilla Satriani, Nilla Satriawana Sentot Imam Wahjono Sentot Imam Wahjono Siskayanti Siti Hadija Siti Irmayanti Siti Suleha Sri Andriani Sri Andyaningsih Sri Utami Sunarti Sunarti Swasti, Tri Ika Syafika Nur Sabina Syahadat, Edy Fitriawan Syamsul, Nur Zhafika Syarifuddin, Safria Tangke, Paulus Triani, Neks W Warda Wafir, Ilham Akbar Wahyudi, Fiqi Wahyuni, Idra Wahyuni, Nia Wijaya, Cinby Cantika Yusran, Sri Wahyuni Pratiwi Yusuf , Yusfi Tsabita Nanda Zalkha Soraya