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All Journal Brilliance: Research of Artificial Intelligence Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen
Zainal Abdul Haris
Politeknik Negeri Malang, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Mathematics Social Sciences Other

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Latar Belakang Penjualan Bisnis (Studi Kasus Penjualan PT HM Sampoerna kepada PT Philip Morris Indonesia) Zainal Abdul Haris
Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen Vol. 1 No. 1 (2015): Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen
Publisher : Jurusan Akuntansi Politeknik Negeri Malang

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Abstract

This descriptive research is to know the internal factors which become the background of PT HM Sampoerna (HMS) in selling its business to PT Philip Morris Indonesia (PMI). Mutation data of the number of shares issued and the company's share market price movements in 1995 to 1997 and 1999 to 2001 are used as a basis to describe the back-ground of the sale by refer to the internal factors – developed by Cavendish in collaboration with Corporate Finance LLP, Deloitte, and Fair Market Valuation – which become the background for the prin-cipal owner to sells their business. The results shows that the internal factors that become the background of HMS to sell their business is: a) A desire to realize the owner’s major capital asset. HMS major capital asset capitalization is Rp10.600 per share, a premium value is 19.77% above the average share market Rp8.688; b) One or more approaches have been received from prospective buyers or an approach has been received from a credible buyer or buyers of the business. PMI is a po-tential buyer who its bid price was received by HMS, and c) The recognition that the business has reached a premium value. Rp10.600 is the premium value that is recognized although in the period 1995 to 2001 – without data 1998 - the price of the share market on average had reached Rp14.931 and the highest price of the share market had reached Rp28.975. Abstrak Penelitian deskriptif ini adalah untuk mengetahui faktor internal yang menjadi latar belakang PT HM Sampoerna (HMS) menjual bisnisnya kepada PT Philip Morris Indonesia (PMI). Data mutasi jumlah lembar saham dari modal ditempatkan dan pergerakan harga pasar saham perusahaan tahun 1995 sampai dengan 1997 dan 1999 sampai dengan 2001 digunakan sebagai dasar untuk mendeskripsikan latar belakang penjualan tersebut dengan mengacu pada faktor-faktor internal – disusun oleh Cavendish bekerjasama dengan Corporate Finance LLP, Deloitte, dan Fair Market Valuation – yang menjadi latar belakang bagi pemilik prinsipal untuk menjual bisnis mereka. Hasil penelitian menun- jukkan bahwa faktor-faktor internal yang menjadi latar belakang pen- jualan bisnis HMS adalah: a) Keinginan untuk merealisasikan aset mo- dal utama pemilik atau peluang untuk mengkapitalisasi. Kapitalisasi a- set modal utama HMS adalah Rp10.600 per saham, yaitu nilai Premium 19.77% di atas harga pasar saham rata-rata Rp8.688; b) Satu atau lebih pendekatan telah diterima dari calon pembeli atau pendekatan telah di- terima dari pembeli atau para pembeli kredibel dari bisnis. PMI merupakan calon pembeli potensial yang harga penawarannya diterima oleh HMS, dan c) Pengakuan bahwa bisnis telah mencapai nilai premium. Rp10.600 merupakan nilai premium yang diakui walaupun di antara kurun waktu tahun 1995 sampai dengan tahun 2001 – tanpa data tahun 1998 – harga pasar saham rata-rata pernah mencapai Rp14.931 dan harga pasar saham tertinggi pernah mencapai Rp28.975.
Clustering-Based Identification of Governance Risks in Campus Environments Sumiadji Sumiadji; Usman Nurhasan; Zainal Abdul Haris
Brilliance: Research of Artificial Intelligence Vol. 5 No. 2 (2025): Brilliance: Research of Artificial Intelligence, Article Research November 2025
Publisher : Yayasan Cita Cendekiawan Al Khwarizmi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47709/brilliance.v5i2.7205

Abstract

The growing implementation of governance models in higher education institutions has raised new challenges in accountability and performance. Although risk management and analysis in governance has received some attention in the literature, there is a lack of studies focusing on the use data-driven clustering algorithms. The current research focuses on the development and assessment of a web-based risk management information system that incorporates clustering principles to identify and map non-academic governance risks. The study followed the CRISP-DM framework and analyzed 678 risks from the Internal Audit Unit (SPI) of Politeknik Negeri Malang. The system employs K-Means clustering analysis to classify the risks into tiers based on performance indicators, budget, and risk severity. The system is equipped with data upload, preprocessing, logging, and cluster visualization modules. A comparative analysis of K-Means, DBSCAN, and Hierarchical Clustering showed that K-Means yields the best cluster quality with a Silhouette Score of 0.48, in comparison to DBSCAN (-0.705) and Hierarchical clustering (-0.395) . The developed system generated five distinct clusters corresponding to risks of varying settlement priority viz. very high, high, medium, low, and very low. The functional and usability assessments of the system confirmed that it provides automated and actionable insights on risks in a user-centric manner. The study has demonstrated the clustering of governance risks in higher education using K-Means is feasible. The incorporation of predictive analytics and real-time data would best support the research in active risk avoidance.
Co-Authors Sumiadji Sumiadji Usman Nurhasan