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All Journal Jurnal Siasat Bisnis Jurnal Manajemen Teknologi Business and Management Review Jurnal Keuangan dan Perbankan Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Jurnal Bisnis dan Manajemen Jurnal Manajemen Indonesia JAF- Journal of Accounting and Finance Devotion: Journal of Research and Community Service International Journal of Multidisciplinary: Applied Business and Education Research Action Research Literate (ARL) Indonesian Journal of Multidisciplinary Science Journal of Social Research Research of Economics and Business Research of Finance and Banking
Riko Hendrawan
Telkom University
Religion Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Medicine & Pharmacology Public Health Social Sciences

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An Efficiency Study in Indonesian Telecommunication Company Using Data Envelopment Analysis DEA Amin, Kokoh Kabul; Hendrawan, Riko
Journal of Social Research Vol. 2 No. 10 (2023): Journal of Social Research
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/josr.v2i10.1432

Abstract

PT. Telekomunikasi Indonesia, Tbk (Telkom), as a state-owned company, has a dual mission, namely as a business company that must be managed professionally, as well as being mandated by the Indonesian government to accelerate the development of information technology, telecommunications, and digital infrastructure to improve the Indonesian economy. Until early 2018, Telkom with Indihome fixed broadband products had reached 3 million customers and a market share of 57.69%. However, that is only 4.50% of the 2019 IBP household penetration target. Telkom is required to increase productivity, especially the number of customers and revenue, while the allocation of available resources is limited and varies in each region. Another condition is the significant reduction in staff due to massive retirements and differences in employee productivity levels in each division. This research aims to determine and compare the efficiency level of 7 Telkom Regional Divisions for the 2016-2018 period using the DEA Data Envelopment Analysis method, with data collection based on the census. The analysis process goes through two stages, namely using the DEA Data Envelopment Analysis method, Constant Return to Scale (CRS/CCR), output-oriented. The next step is to measure the strength of the relationship between each input/output variable on efficiency using Pearson's correlation. The results of the study concluded that Divisions E and B have the highest efficiency values. On the other hand, Division G is the lowest. The variables that have the strongest correlation with the level of efficiency are the number of employees (input), the number of customers (output), and business income (output).
Valuation of Indonesian Cable Company with Free Cash Flow to Firm and Relative Valuation Harjono, Sucipto; Hendrawan, Riko
Journal of Social Research Vol. 2 No. 10 (2023): Journal of Social Research
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/josr.v2i10.1433

Abstract

During 2014 - 2018, cable companies in Indonesia showed an 8.52% average annual revenue growth. Unfortunately, analysts are responding to this growth negatively. Hence, In this study, we will conduct a valuation of six cable companies in Indonesia that are listed on the Indonesia Stock Exchange (IDX). We evaluate using two methods, namely Free Cash Flow to Firm (FCFF) to get the Intrinsic Value of shares, Relative Valuation using Price to Book Value ( PBV), and Price to Earnings Ratio (PER) to validate the intrinsic value. The valuation results consider three scenarios: optimistic, moderate, and pessimistic. In the optimistic scenario, the Intrinsic Value of JECC, KBLI, and VOKS shares are overvalued in all scenarios, while IKBI, KBLM, and SCCO are undervalued throughout the scenario. Validation using PBV for the optimistic scenario, all companies are considered overvalued. For the moderate scenario, the PBV of IKBI, KBLI, and VOKS are overvalued, while JECC, KBLM, and SCCO are undervalued. As for the pessimistic scenario, only the PBV of IKBI is overvalued. Validation using PER for the optimistic scenario, the PER of IKBI, JECC, KBLM, and SCCO are overvalued, while the PER of KBLI and VOKS are undervalued. For the moderate scenarios, the PER of IKBI and SCCO are overvalued, while the PER of JECC, KBLI, KBLM, and VOKS are undervalued. Whereas for the pessimistic scenario, only the PER of IKBI is overvalued, while JECC, KBLI, KBLM, SCCO, and VOKS are undervalued.
Can the Implementation of Sharia Banks’ Roadmap Increase Their Performance? (Evidence from Indonesia 2012-2017) Hendrawan, Riko; Akbar, Lily M; Aminah, Wiwin
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 12 No. 2 (2020)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v12i2.15929

Abstract

The purpose of this research is to compare the efficiency of 11 Sharia Banks in Indonesia and its impact on their performance. This study relies on the quarterly data from 2012-2017 and applied Data Envelopment Analysis to measure their performance. The result of the T-test shows that the P-value for two tail = 0.706. So based on this trend the P-value is greater than α = 0.05 (P-value> α). In the condition of P-value> α, H1 is rejected, meaning that there is no change in the value of efficiency between the period 2012-2014 and the period 2015-2017. This research shows that the efficiency of Islamic banking has not occurred during the implementation of the 2012-2017 Indonesian Sharia Banking Roadmap. Furthermore, the highest efficiency value during the period before implementation was 0.92 with an average efficiency value of 0.57. This means that during this period there was room to increase efficiency by 0.35. Meanwhile the period after implementing the highest efficiency value was 0.87 with an average efficiency value of 0.59. This means that during this period there was room to increase efficiency by 0.28. This means that during the 2012-2017 period, there was no significant difference in efficiency levels during the 2012-2014 period (before the implementation) and the 2015-2017 period (after the implementation of the Islamic banking road map). AbstrakTujuan dari penelitian ini adalah untuk membandingkan efisiensi dari 11 Bank Syariah di Indonesia dan dampaknya terhadap kinerja bank tersebut. Penelitian ini menggunakan data setiap kuartal selama tahun 2012 hingga tahun 2017 dan menggunakan Data Envelopment Analysis untuk mengukur kinerja. Hasil penelitian ini menunjukan bahwa selama implementasi Roadmap, perbankan syariah belum menunjukan kenaikan efisiensi. Sementara itu, sebelum implementasi tersebut, nilai efisiensi tertinggi perbankan syariah sebesar 0,92, sedangkan rata-rata nilai efisiensinya sebesar 0,57. Ini berarti bahwa ada ruang untuk meningkatkan level efisiensi sebesar 0,35. Sedangkan pada periode implementasi, nilai efisiensi tertingi perbankan syariah sebesar 0,87, dan ratarata nilai efisiensinya sebesar 0,59. Ini berarti ada ruang untuk meningkatkan level efisiensi sebesar 0,28. Hasil penelitian juga menunjukan bahwa, secara keseluruhan periode tahun 2012 hingga tahun 2017, hasil t-test menunjukan nilai P-value for two tail = 0.706. Ini berarti P-value> α, dan menolak H1, sehingga tidak terdapat perbedaan level efisiensi selama periode 2012-2014 (sebelum implementasi) dan periode 2015 – 2017 (setelah implementasi)  
Co-Authors Adrianov, Bobby Afina, Syadza Akbar, Lily M Al-Farisi, Ade Salman Alimuddin, Almand Fuad Amin, Kokoh Kabul Anggadi Sasmito Ariful Ulya Dwipanca Adi Nugraha Enggar Pratiwi Farida Titik Kristanti Fitriyani, Maya Gayuh T Permana Gede Teguh Laksana Hadiana, Riza Harjono, Sucipto Kristian WA Nugroho Muhammad Bayu Aji Sumantri Muhammad Chalil Gilbran Nurul Rachma Fadhyla Pebri Yanida Putra, Fikri Dzuraeka Rifqi Dzakiri Safar, Abdul Salehudin Eka Saputra Alrasidi Setiawan, Rian Soelistyo, Alex Teika Trikartika Gustyana Tendi Haruman Tendi Haruman Wibowo, Teguh Arie Wiwin Aminah