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The effect of EVA and REVA's financial performance on shareholder value creation in the healthcare industry during the COVID-19 pandemic Sanga, Marianus Hendrilensio; Yopie Kefi, Darwin; Sanam, Yefta
Enrichment : Journal of Management Vol. 13 No. 6 (2024): February
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v13i6.1831

Abstract

This study investigates the effect of value-added profitability metrics, specifically Economic Value Added (EVA) and Refined Economic Value Added (REVA), on shareholder value creation proxy by Market Value Added (MVA) in the Indonesia’s healthcare industry before and during the COVID-19 pandemic. We employed ordinary least squares (OLS) panel data regression model, with variable dummy to accommodate the COVID-19 pandemic. It uses a sample size of 14 companies, including 4 healthcare service sector companies and 11 pharmaceutical sector companies. The result: 1) EVA and REVA have significant influence in explaining the shareholder value creation of the healthcare industry in Indonesia before and during the pandemic. EVA had a positive effect on MVA in two periods, while REVA is negatif during the pandemic. 2) EVA and REVA metrics are superior in explaining shareholder value creation over traditional accounting metrics (ROCE, ROE and EPS). The implications: for academics, the calculation of EVA and REVA must be done properly and correctly, especially in calculating the cost of capital in order to provide accurate results. While, for practisioners, the consistency of value-added metrics shows the urgency of its application in evaluating financial performance and shareholder value creation in Indonesia and specifically the healthcare industry
The effect of financial literacy in the management of BUMDes (The Case study of BUMDes administrators in Nekamese district, Kupang Regency - NTT) Kefi, Darwin Yopie; Sanga, Marianus Hendrilensio; Seran, Patrisius; Aryuditha, Verylyanny
Jurnal Mantik Vol. 9 No. 2 (2025): August: Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v8i6.6135

Abstract

This study investigates how the management ability of Village-Owned Enterprises (BUMDes) in the Nekamese District correlates with knowledge about finance. This research will examine how the understanding and skills of BUMDes administrators about finance in financial management. It is hoped that the results will provide better insight into how important financial literacy is in improving the performance of BUMDes and provide appropriate policy recommendations to improve financial literacy at the local level. This research will be conducted on BUMDes administrators in 11 villages in Nekamese District, Kupang Regency with a total of 10 respondents. This research is qualitative, and the data analysis tool used in this study is Nvivo (Non-Numerical Unstructured Data Indexing Searching, and Theorizing). NVivo is used to code and analyze data, presenting the results of data analysis in the form of drawings, diagrams, or graphs for thematic, content, comparative, and even analytical purposes, and even to analyze associative, unidirectional, and symmetrical relationships. The results of this study show that BUMDes managers in the Nekamese District have a basic understanding of financial concepts and principles. Respondents showed awareness of the importance of transparency, participation, and financial stability in managing BUMDes. However, there is room for improvement in terms of the implementation of more structured and strategic financial management methods, such as the use of more diversified financial instruments and comprehensive long-term financial planning. Developing the capacity of managers in these aspects can help BUMDes achieve more optimal and sustainable performance
Packaging and Marketing Training for Products of Waste Processing Sites in Mangrove Tourism Area, West Oesapa Village, Kupang City Fanggidae, Jappy Parlindungan; Nino, Indawati Jauhar; Manafe, Janri Delastriani; Setyorini, Tuti; Dioh, Septia Sakalini; Kefi, Darwin Yopie; Latupeirissa, David Samuel; Tarigan, Surya Setiadi; Sanga, Marianus Hendrilensio; Dima, Rohani Purnamasari
Society : Jurnal Pengabdian Masyarakat Vol. 4 No. 1 (2025): Januari
Publisher : Edumedia Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55824/jpm.v4i1.481

Abstract

This community service activity aims to improve the skills of the 3R Waste Management Site (Recycle, Reuse, Reduce) management group in the mangrove ecotourism area of Oesapa Beach, Kupang, NTT. This TPS was built through collaboration between the government and local communities, aiming to manage waste and support economic improvement through organic fertilizer production. However, there are obstacles in the marketing of these organic fertilizers, including unattractive packaging and limited sales points in tourist areas. This service method consists of several stages: preparation, implementation, evaluation, and reporting. At the preparation stage, partner problems are identified. The implementation stage includes training on packaging fertilizer products that are neater and more attractive and marketing strategies in tourist areas, which are delivered through workshops and hands-on practice. The evaluation was carried out by comparing the condition of the partners before and after the training. The results of the activity showed an increase in skills in product packaging and the ability to design more effective marketing strategies, which can be seen from the increase in consumer interest in organic fertilizer products. The positive impact of this activity is expected to support the sustainability of the 3R TPS management group's business and contribute to environmental and economic preservation of the local community through more optimal waste management.
Peran On the Job Training dan Psychological Ownership Terhadap Employee Engagement dengan Kinship sebagai Pemediasi Kefi, Darwin Yopie; Sanga, Marianus Hendrilensio; Seran, Patrisius
Public Policy Jurnal Aplikasi Kebijakan Publik dan Bisnis
Publisher : Lembaga Penelitian & Pengabdian Masyarakat (LPPM) STIA Said Perintah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51135/PublicPolicy.v5.i1.p304-319

Abstract

The study aims to investigate on-the-job training and psychological ownership in Micro, Small, and Medium Enterprises (MSMEs) in ApasA, Kupang City, NTT. It employs a quantitative approach using questionnaires for data collection. Probability sampling method was used with a sample size of 42 individuals. Data analysis utilized Structural Equation Modeling-Partial Least Square (SEM-PLS) through Smart PLS version 3 software. Results show that on-the-job training does not significantly influence employee engagement, but psychological ownership positively impacts it. Kinship does not mediate the relationship between training or psychological ownership and employee engagement. These findings can help MSME management design more efficient human resource development strategies.
The Effect of Liquidity on the Financial Performance of Companies in the Property, Real Estate and Building Construction Sectors Listed on the Indonesia Stock Exchange in 2023 Sanga, Marianus Hendrilensio; Situmorang, Resvina; Seik, Merlinda Friday; Bangngu, Sani Alesya; Taus, Stefani Petriana Welhelmina
Science Journal Get Press Vol 2 No 1 (2025): January, 2025
Publisher : CV. Get Press Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69855/science.v2i1.97

Abstract

The property and real estate sector requires large investments and long business cycles, which requires developers to have solid financial strategies and adequate liquidity. However, the relationship between liquidity and financial performance is still debated, as excess liquidity can indicate inefficiencies. Purpose: analyze the effect of liquidity on financial performance in property and real estate companies listed on the Indonesia Stock Exchange. Methods: A quantitative approach with a descriptive and causal design to measure the relationship between the liquidity and financial performance of property and real estate companies. Secondary data is obtained from the annual financial statements of companies listed on the IDX in 2023, with sampling using a census involving all companies in this sector. Results: The Current Ratio has a significant negative effect on ROA while the Quick Ratio has no effect on ROA. Meanwhile, F-Statistic value shows that liquidity has no effect on financial performance. Implications: The importance of balanced liquidity management to support the profitability and efficiency of the company's operations. Conclusion: Adequate liquidity needs to be optimized without sacrificing the potential for productive investment.