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Privatization and Firm Performance: a Study of Indonesia’s State-owned Enterprises Soejono, Fransiska; Heriyanto, Heriyanto
JDM (Jurnal Dinamika Manajemen) Vol 9, No 2 (2018): September 2018
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v9i2.14970

Abstract

This study aimed to examine the differences in the company’s performance before and after privatization. This study also examined the differences in performance before and after privatization on specific sub-samples of the data which is based on privatization method. Government policy of carrying out the privatization toward SOEs is still pro and contra. Various Privatization methods offer its weaknesses and strengths. There are different opinions on the best method for SOE privatization in Indonesia. The population is all companies which execute the privatization method. Secondary data were used namely financial statement which was taken from the Indonesia Stock Exchange, and the company’s website. Data were analyzed using normality test data. In addition, the paired t-test by using normally distributed data assumption was used to test the hypothesis. The results showed that Direct method privatization positive and significant changes in measuring Total Asset Turnover. Performance conducted Privatization through the capital markets showed different results. Test on the capital market method of data showed a similar effect with an analysis on the entire data (without separating the privatization method used) that occur significant performance degradation, especially in measuring Total Asset Turnover, Debt Ratio and Return On Equity. Conducted Management/ Employee Buy-Out (MBO) privatization implied a substantial reduction in measuring Debt Ratio and Return on Equity Performance.
Market Reaction to Indonesia Golden Ring Award Soejono, Fransiska
JDM (Jurnal Dinamika Manajemen) Vol 8, No 2 (2017): September 2017
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v8i2.12763

Abstract

This research is attended to analyze market reaction to announcement of Golden Ring Award period 2008-2015. Indonesia Golden Ring Award (IGRA) which was originally called as GRA is a form of award for the telecommunications industry in which the assessment team consist of the journalists who are daily covering the telecommunications industry  It used an event study methodology to empirically evidence. The research samples are focused on 6 telecommunication firms listed in Indonesian Stock Exchange with judgement sampling technique. The secondary data consists of daily closing price of shares and composite stock price index with an estimation period during 21 days by using a market adjusted model. Hypotheses are tested by one sample t-test, paired t-test and independent sample t-test. There is significant market reaction to announcement of Golden Ring Award. The second Hypothesis also accepted i.e. there is a significance in different market reaction between the firms getting Golden Ring Award and the firms not getting Golden Ring Award, especially in best operator category. Whereas in best value added category, market didn’t show significant reactions. This result gives implication related to the efficient capital market Hypothesis i.e. semi strong form efficiency are proven.
HUBUNGAN TINGKAT LITERASI DAN PERENCANAAN KEUANGAN Mendari, Anastasia Sri; Soejono, Fransiska
Modus Vol. 31 No. 2 (2019): MODUS
Publisher : Faculty of Business and Economics Universitas Atma Jaya Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24002/modus.v31i2.2412

Abstract

ABSTRACTThis study aims to determine the financial planning of lecturers in Palembang and analyze its relationship with the financial literacy index. The data analysis method used in this study is descriptive analysis, validity, reliability, and normality test data. Hypothesis testing uses Pearson correlation test. The number of respondents in this study was 153 respondents. Data collection techniques use survey techniques with questionnaires. The results showed that the average lecturer was good enough in terms of implementing the steps of financial planning and debt management. The lecturer has realized the importance of insurance but lacks understanding of the insurance products needed. Lecturers are still not optimal in investing. The lecturer realizes the importance of preparing a pension fund, but the average lecturer does not have a retirement plan. Lecturers consider inheritance planning to be important, but they have not planned their inheritance too much. The results of the study also show that there is a relationship between financial literacy and financial planning.Keywords: financial literacy; financial planning; financial managementABSTRAKPenelitian ini bertujuan untuk mengetahui perencanaan keuangan para dosen di Palembang dan menganalisis hubungannya dengan indeks literasi keuangan. Metode analisis data yang digunakan adalah analisis deskriptif, uji validitas, reliabilitas, dan normalitas data. Pengujian hipotesis dilakukan dengan menggunakan uji Pearson correlation. Jumlah responden adalah 153. Pengumpulan data dilakukan menggunakan metode survei dengan kuesioner. Hasil penelitian ini menunjukkan bahwa rata-rata dosen telah melakukan perencanaan keuangan dan manajemen hutang dengan langkah-langkah yang baik. Para dosen juga sudah memahami pentingnya asuransi, namun kurang mengetahui tipe produk asuransi yang mereka butuhkan. Para dosen juga belum optimal dalam melakukan investasi. Para dosen memahami akan pentingnya menyiapkan dana pensiun, namun rata-rata dosen tidak memiliki perencanaan pensiun. Para dosen memandang warisan sebagai hal yang penting, namun mereka belum memiliki banyak perencanaan mengenai hal tersebut. Hasil penelitian ini juga menunjukkan adanya hubungan antara literasi keuangan dan perencanaan keuangan. Kata kunci: literasi keuangan; perencanaan keuangan; manajemen keuangan
Pelatihan dan Trik Literasi Keuangan Digital Bagi Mahasiswa Fadilla, Fadilla; Yuliani, Yuliani; Soejono, Fransiska
Community Engagement and Emergence Journal (CEEJ) Vol. 6 No. 6 (2025): Community Engagement & Emergence Journal (CEEJ)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ceej.v6i6.9588

Abstract

Pendidikan tentang pentingnya literasi keuangan seyogianya harus dimiliki oleh mahasiswa. Literasi keuangan merupakan kemampuan individu dalam memahami, mengelola, dan mengambil keputusan yang tepat terkait keuangan pribadi maupun keluarga. Kegiatan pengabdian ini dilakukan untuk memberikan pengetahuan dan trik pengelaolaan keuangan kepada Masiswa agar mahasiswa dapat mengatur keuangan mereka lebih baik lagi serta sejak dini mempersiapkan investasi. Kegiatan ini dilakukan pada hari Sabtu tanggal 19 Juli 2025 bekerja sama dengan MCG Learning Center. Metode pengabdian adalah cerama, diskusi dan pelatihan. Hasil kegiatan ini adalah meningkatnya pengetahuan dan pemahaman mahasiswa tentang literasi keuangan digital hal ini terlihat pada hasil Post test yang bernilai 4 dari nilai pre-test sebelelumnya 3.