Article Per Year (5 Year)
p-Index From 2020 - 2025
2.619
P-Index
This Author published in this journals
All Journal Program Kreativitas Mahasiswa - Gagasan Tertulis ODONTO Dental Journal Padjadjaran Journal of Dentistry JURNAL PENDIDIKAN TAMBUSAI Jurnal Samudra Ekonomi dan Bisnis Abdi Dosen : Jurnal Pengabdian Pada Masyarakat Jurnal Ilmiah Edunomika (JIE) Jurnal Riset Akuntansi Kontemporer Economics and Digital Business Review Nusantara Hasana Journal Jurnal Akuntansi dan Keuangan (JAK) Jurnal Widya Odonto dental journal Grimsa Journal of Science Engineering and Technology Media Hukum Indonesia (MHI) Berkala Ilmiah Kedokteran dan Kesehatan Masyarakat
Mutiara Annisa
Jurusan Teknik Kelautan, Fakultas Teknologi Kelautan, Institut Teknologi Sepuluh Nopember Surabaya
Religion Agriculture, Biological Sciences & Forestry Humanities Biochemistry, Genetics & Molecular Biology Chemical Engineering, Chemistry & Bioengineering Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Dentistry Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Health Professions Immunology & microbiology Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Nursing Physics Public Health Social Sciences Other

Published : 17 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search
Journal : Jurnal Akuntansi dan Keuangan (JAK)

 1 
THE INFLUENCE OF STATE CAPITAL PARTICIPATION, STRATEGIC ORIENTATION, AND ACCOUNTABILITY ON THE FINANCIAL PERFORMANCE OF STATE-OWNED ENTERPRISES: A PANEL DATA FEM ANALYSIS (2021–2024) Annisa, Mutiara; Yanti, Harti Budi
Jurnal Akuntansi dan Keuangan (JAK) Vol 30 No 2 (2025): JAK Volume 30 No 2 Tahun 2025
Publisher : Faculty of Economics and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23960/jak.v30i2.4091

Abstract

This study aims to analyze the influence of State Capital Participation (PMN), strategic orientation, accountability, good corporate governance (GCG), and risk management on the financial performance of State-Owned Enterprises (SOEs) in Indonesia during the 2021–2024 period. Using a quantitative approach with panel data and the Fixed Effect Model (FEM), the research involved 62 SOEs with a total of 217 observations. The results show that, simultaneously, the five independent variables significantly affect financial performance as measured by net profit after tax. However, individually, none of the variables show a statistically significant impact. These findings suggest that PMN and internal strategies have not yet delivered direct short-term improvements in profitability, likely due to external factors such as government intervention, long-term projects, and post-pandemic economic conditions. Furthermore, the implementation of GCG, accountability, and risk management tends to have long-term effects that are not immediately reflected in financial outcomes. This study contributes to the understanding of how structural and strategic factors interact in shaping SOE performance and recommends that policymakers and SOE leaders enhance coordination between fiscal support and internal governance reforms to achieve sustainable financial outcomes.
Co-Authors Alfikri, Muhammad Nabil Andria Zulfa Archadian Nuryanti Azhari, Saiful Dessi Susanti Dwita Sakuntala Efendi, Bakhtiar Eva Juniati Fachrunniza, Yunda Fajri, Ridho Laksamana Faried, Annisa Ilmi Ferina, Ika Fitria Anisa, Risa Gozali, Efva Hamid, Nur Liyana Binti Hamzah, Ruth Harsini Harsini Ilham Khoirul Irsyad Isha Frandika Hutama Kanina, Puteri Aulia Rizqi Lia Nazliana Nasution Luthfi Adnan, Muhammad Mahmudi Mahmudi Muhammad Yusuf Mutia Farida, Mutia Nazliana Nasution, E Lia Nazliana Nasution, Lia Nurhuda, Mhd Parhusip, Austin Alexander Ramadhi, Ade Wahyu Ridhani, Ridhani Rusiadi, E Senjarani, Baiq Bening Siana, Yusti Sihotang, Mutiah Khaira Siti Chamdalah Sitorus, Mhd Gifari Suhendi Suhendi Timoria, Timoria Toruan, Antonius Wirayuda, Fatah Yanasta Yudo Pratama Yanti, Harti Budi