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Financial Health of Leading SOEs: Altman Z-Score Analysis on LQ45 Issuers Rasid, Ayub Usman; Olilingo, Fahrudin Zain; Hasanuddin, Hasanuddin; Gani, Roydah
Journal of International Conference Proceedings Vol 8, No 1 (2025): 2025 ICPM Malaysia Proceeding
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v8i1.3912

Abstract

This study aims to evaluate the financial health of selected state-owned enterprises (SOEs) listed in the LQ45 index during the 2019–2023 period using the Altman Z-Score method. This approach combines five key financial ratios to assess the bankruptcy potential of firms. Secondary data were collected from annual financial reports and analyzed longitudinally and cross-sectorally. The results reveal that only PT Bukit Asam (PTBA) and PT Telkom Indonesia (TLKM) consistently remained in the safe zone (Z 2.99), while most other companies, particularly in the banking and infrastructure sectors, were classified in the grey or distress zones, indicating a significant bankruptcy risk. These findings highlight the financial resilience disparities across sectors within SOEs, despite structural support from the government. The study concludes that the Altman Z-Score model serves as an effective early warning tool for assessing financial risk, although sector-specific interpretation, especially for the financial services industry, is necessary. The implications suggest that corporate management should enhance operational efficiency, strengthen capital structure, and establish early warning systems based on financial ratios to improve long-term financial resilience.
Sustainable Coffee Production through FMEA-FMECA and DMAIC Integration: A Case Study of Pinogu Coffee Producer Lahay, Idham Halid; Olilingo, Fahrudin Zain
Journal of International Conference Proceedings Vol 8, No 1 (2025): 2025 ICPM Malaysia Proceeding
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v8i1.3948

Abstract

Sustainable coffee production has become increasingly crucial amid the challenges of climate change and growing consumer demand for eco-friendly products. This study explores the integration of Failure Modes and Effects Analysis (FMEA), Failure Modes, Effects, and Criticality Analysis (FMECA), and the Define, Measure, Analyze, Improve, Control (DMAIC) methodology to enhance sustainability practices at a Pinogu coffee producer. By combining risk identification with data-driven quality improvement, the research provides a comprehensive framework for addressing production inefficiencies and quality issues. The implementation of FMEA-FMECA effectively identified critical failure modes impacting product quality and operational performance, while DMAIC supported continuous improvement through waste reduction and process optimization. The findings demonstrate that aligning risk management tools with quality enhancement strategies offers a viable model for sustainable agricultural practices. This study not only delivers practical guidance for the coffee industry but also contributes valuable insights to the broader discourse on sustainable supply chain management in agribusiness.
Analisis Kontribusi Retribusi Pasar Terhadap Pendapatan Asli Daerah Kabupaten Gorontalo pulukadang, putri ayimi; Olilingo, Fahrudin Zain; Abdul, Irawati
Jurnal Akuntansi, Manajemen dan Ilmu Ekonomi (Jasmien) Vol. 5 No. 06 (2025): Vol. 5 No. 06 (2025): Jurnal Akuntansi, Manajemen dan Ilmu Ekonomi (Jasmien)
Publisher : Cattleya Darmaya Fortuna

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54209/jasmien.v5i06.1704

Abstract

This study aims to analyze the contribution and effectiveness of market levies to Local Own-Source Revenue (PAD) in Gorontalo Regency. Market levies are one component of PAD that has great potential, but their realization is often below the set target. This study uses a descriptive quantitative approach with secondary data in the form of market levy and PAD revenue reports for Gorontalo Regency from 2019 to 2024. The analysis technique used is contribution and effectiveness analysis. The results show that the contribution of market levies to PAD in Gorontalo Regency is very low, with an average contribution of less than 1% per year. However, the effectiveness of market levy collection shows varying results. In some years, the effectiveness is relatively high, even exceeding 100%, while in other years it is still below the target. Factors that influence these achievements include the level of trader compliance, the efficiency of the collection system, the quality of market facilities, and supervision from the local government. The conclusion of this study is that market levies have not made a significant contribution to the Gorontalo Regency's PAD. Therefore, strategic efforts are needed to optimize management and collection in order to increase regional revenue in a sustainable manner.
Analisis Produktivitas Jagung di Kecamatan Pulubala, Kabupaten Gorontalo Abdullah, Arlan; Olilingo, Fahrudin Zain; Akib, Fitri Hadi Yulia
Jurnal Economic Resource Vol. 8 No. 2 (2025): September - February
Publisher : Fakultas Ekonomi & Bisnis Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57178/jer.v8i2.1912

Abstract

This study aims to analyze the influence of production factors, including seeds, fertilizer, land area, labor, pesticides, and capital, on corn productivity in Pulubala District, Gorontalo Regency. The research employs a quantitative approach, with primary data collected through questionnaires, interviews, and observations of 100 respondents. Data analysis was conducted using multiple linear regression with SPSS, complemented by classical assumption tests, including normality, multicollinearity, and heteroscedasticity tests. The results indicate that, simultaneously, all independent variables significantly affect corn productivity. Partially, seeds, fertilizer, labor, and capital have a positive and significant effect, whereas land area and pesticides have a negative and significant effect. The coefficient of determination (R²) of 0.705 indicates that 70.5% of the variation in corn productivity can be explained by the independent variables in the model, while the remaining 29.5% is influenced by other factors outside the study. Descriptive analysis also shows that the average corn productivity in Pulubala District reaches 5.085 tons per hectare